(2393,1,'2022-04-25 23:45:36','2022-04-25 23:45:36','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":2379,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/down-payment-on-summary-1024x343.png\" alt=\"\" class=\"wp-image-2379\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Use these essential money-saving tips so you and your bank account glide smoothly through the holiday season.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Butter up sales associates with your charm</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The nicer you are to store employees, the less you spend. “Nobody realizes that there are hidden discounts in almost every shop you walk into,” says Mark Ellwood, author of&nbsp;<em>Bargain Fever: How to Shop in a Discounted World</em>. “All it takes is a smile and a little charm.” Don’t assume there aren’t any discounts in a store just because you don’t see any sale signs. When you walk through the doors, exchange pleasantries with the first salesperson you see, then ask about any discounts for the day. Often, you will save a few bucks or learn to wait and come back for a sale in a few days.&nbsp;Make sure you know the nearly invisible ways stores trick you into spending more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Know your limits</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Don’t fret about buying your family an overload of presents for Christmas. They will also receive gifts from relatives and friends, so there’s no need to spoil them&nbsp;<em>too</em>&nbsp;much if you’re watching your budget. Jordan Page, author of the Fun Cheap or Free blog, recommends giving your kids two presents: the bigger gift from the parents and a smaller one from Santa. “Parents feel a lot of pressure about Santa gifts,” Page says. “This way it gives the parent more control and the kid is more understanding about what they do and don’t get for Christmas from Santa.” Use these psychology tricks to spend less in stores.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Embrace online shopping</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Surfing the web for Christmas presents is great for two reasons: You avoid the holiday crowds and it keeps you from grabbing more than you need. “At a brick and mortar store, I find things I never needed that I have to have, but online shopping restricts me,” says Sami Cone, author, blogger, and creator of the&nbsp;<em>Family Money Minute&nbsp;</em>podcast.&nbsp;“When I’m shopping online, I know what I want, I search it, and I buy it.” Here are more tips for saving money on holiday shopping.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Make a gift list</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Create a shopping plan at home so you’re not swayed by store marketing strategies. Play-it-by-ear shoppers never fail to overspend, but thrifty shoppers know how much they are going to spend and what they want to buy before they enter the store. These are the spending habits personal finance experts hate the most.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Opt for a layaway plan</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For people with a limited income, layaway plans are much gentler on your pocket book and credit score. You simply grab your item, bring it to the layaway desk, and pay off your purchase in feasible payment chunks. Once it’s all paid off, you can take it home with you! Burlington Coat Factory lets you layaway your purchases all year for a $5 service fee and 20 percent deposit toward your payment. Make sure to plan ahead for this option, otherwise you may not have your gifts in time for Christmas.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Grab a shopping buddy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most coupons require you to spend a certain amount of money to get the discount; the kicker is, you miss out on the deal if you didn’t plan on spending that much. If there’s a deal you just can’t turn down, take a friend shopping. You can pool your purchases and both nab the savings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Skip the mall</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As the saying goes, “one man’s trash is another man’s treasure.” Thrift stores and garage sales are hidden treasure troves filled with potential presents that won’t empty your wallet. “This time of year, tons of donations flood into thrift stores, from parents clearing out toy rooms to people doing some good,” Page says. Make sure you know which items to never buy online.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Download coupon apps</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Technology is every savvy shopper’s savings dream. Up to 78 percent of millennial parents use their smartphones to research products, check prices or availability, or even pay at the checkout, according to the National Retail Federation. A simple swipe of your finger allows apps like Shopular to show you all the sales in your favorite stores. RetailMeNot provides coupon and promo codes for both online and in-store shopping. This is the best time to buy thesecheap finds throughout the year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Buy experiences</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s easy to get caught up in the materialism of the holidays and forget the true meaning of Christmas: making memories. Instead of buying futile trinkets that will just gather dust, spend your shopping money on, say, a vacation or a zoo membership. Groupon is a handy site for snagging discounted rates on spa days, dinner dates, excursions, the theater, and more.&nbsp;&nbsp;“Our family would rather sacrifice the stuff so we can make memories together,” Cone says. These are a few bucket list vacations that are cheaper than a trip to Disney.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Don’t forget about price matching</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Skip the crazy Black Friday lines at the mall and hit up the stores in your neighborhood and you might score some deals. Before you make the trek out, call the store and ask about their price matching policies. If they say yes, go to the store and show the cashier a competing store’s sales ad on your phone or in a flyer so they can match their competitor’s sale price.&nbsp;If you can handle the crowds, many big retail stores like Target also tout their price match policies. “There are too many shops and not enough shoppers,” Ellwood says. “Shops need us more than you need them.” These are the money-saving secrets Target employees won’t tell you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Take your time when shopping online</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you’re not registered to every online store you shop in, you should be. Registered customers get a tailored shopping experience with product recommendations and insider knowledge on the latest promotions. Then add items to your virtual cart, close the window, and wait. If you’re patient, the retailer will remind you that there are items waiting in your basket. Often, they will send you a 10 to 20 percent off incentive to complete your transaction. Or try messaging an online customer service member and kindly ask if they can give you a discount.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Day-trip to an outlet mall</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you like designer brands but not their price, plan a trip with some friends and head to the outlets. Some outlet malls let you register for free as a VIP member, which scores you a coupon booklet. You can land even more savings by asking for another different coupon booklet at the outlet’s customer service center. These two options let you compare and contrast which coupon has the better savings. But don’t let the bargains veer you away from your gift list. Some outlet mall items are made specifically for the outlets, which means they were never sold at the higher price, so you’re not saving any money. Try out these fashion upgrades to make your outfits look expensive.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Think before you buy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Give yourself time to think about if a gift is worth purchasing for someone or just an impulse buy. Try counting to three or walking away to clear your mind. “In our family, we don’t buy things the first time we see it,” Cone said. “Sometimes just walking away removes the desire.” Never fall for these money-saving tips that don’t actually pay off.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Pace yourself</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A smart shopper thinks about Christmas shopping all year round. In the months leading up to Christmas, gradually shop little by little, which saves you from blowing hundreds of dollars in a single month. Experts recommend shopping for Christmas the week after the holiday ends so you can catch all the clearance items. “It allows you to have a fabulous, generous Christmas and still be able to do other things around the year,” Page says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Use discounted gift cards to buy presents</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Cardpool and Raise are both online marketplaces where people sell back their unused gift cards for up to 35 percent off. This way, you can add an additional discount to your marked-down store purchase. These are the best gift cards for everyone on your list.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Go halvsies on a gift</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Why pay full price for a gift when you can split the cost with a sibling or friend? “This way you’re not spending a lot of money and giving something with a little more meaning and use,” Cone says. Here are ridiculously easy ways to save money without feeling the pinch.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Create an online shopping browser</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are two add-ons every frugal shopper needs for their Google Chrome or Mozilla Firefox browsers:&nbsp;The Camelizer and Honey. “You can use these to torpedo the price of anything you buy online,” Ellwood says. The Camelizer is made for Amazon and displays an item’s price history and lets you set up a price alert when Amazon sells it at your desired price. When you’re ready to checkout in an online retail store, click on the Honey icon to scour the Internet for every discount code that applies to your purchase. Unfortunately, this add-on is still fairly new, so expect some glitches. Try pinching more pennies with sites like savings.com or do a Google search for discount codes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Let your kids use their own money</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If your child’s piggy bank is full and they’re old enough to buy their own presents for family and friends, there’s no need for you to cough up the cash for them. It gives you an opportunity to teach them how to save money and think creatively. “Don’t feel obligated to bail your kids out,” Page says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Don’t rely on Black Friday</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For some shoppers, Black Friday is an annual holiday tradition; for others, it’s five cups of coffee and a raging headache. The Black Friday hype is designed to lure shoppers into the store and buy things they don’t need for the sake of a bargain. And, some of the products are cheap because they were “Black Friday stock,” so you’re not really saving that much because they’d be sold for cheap anyway. “Black Friday is always a little bit of a bait and switch,” Ellwood says.&nbsp;Here are more Black Friday deals that you’re better off passing up.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Get crafty</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Get those creative juices flowing! Nothing says “I love you” more than a thoughtful homemade gift from the heart. Bake someone their favorite pie, scrapbook a photo album, or design personalized coupons for quality time. “One Christmas my husband and I were living paycheck to paycheck, so we made our presents,” Page says. “It was one of the most thoughtful Christmases we had.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>“Window shop” ahead of time</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Many stores release their Black Friday deals online a week before. If you scope out the prices ahead of time, you can gauge whether the price difference is worth the hassle of dealing with the Black Friday chaos. Make sure to avoid these Black Friday shopping mistakes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Shop in zen mode</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Play soothing music through your ear buds to mellow out before hitting the sales racks. Your brain’s dopamine levels, or “feel good” juices, may spike at the sight of a sale sign because it’s exciting to buy a nice, new item at a super low price. But this “shopping high” may also have its consequences. if you walk into a store overwhelmed by the numerous sales signs, your dopamine levels kick into overdrive, which may cause you to go on a spending frenzy that you may regret later. “Try to get yourself as calm as possible,” Ellwood says. “That will prevent the dopamine from highjacking your brain.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Set a Christmas dinner budget</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s not all about the presents; a Christmas feast is what truly brings everyone together. But when you’re cooking for a dozen or more, the dollar signs start to multiply.&nbsp;Set a budget for your food just like you would for presents. An app like Favado or websites like Deals to Meals help you track grocery deals and plan your meals around what’s on sale. When you don’t have to pay full price for food, you can afford to buy more for less and freeze it for later in the year, which is an added bonus. This is what the Royal family eats on Christmas Day, according to their personal chef.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Start a Christmas savings account</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Open up a savings account and deposit a piece of your paycheck each month; whether it’s a dollar a day or $50 a month, a little bit goes a long way. Some banks even have a monetary incentive to open a new account, like Capital One, which gives you $25 if you open a new account with a $250 deposit.&nbsp;“When people think Christmas, they think presents, but you may also have travel, stockings, and dinner. It’s an expensive season and this helps quell that,” Page says.&nbsp;Start these habits to become a good money saver.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Make a buck while you shop</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s just as easy to earn cash back as it is to spend it. All you need to know is where to go.&nbsp;The app Paribus automatically tracks your online purchases; if the item goes on sale after you purchase it, the app will automatically reimburse you for the price difference. Ebates gives you cash back for buying an item from more than 2,000 online retailers like Amazon and Walmart. Other apps like Ibotta deposit your rebate money into your PayPal account within a day. Shopkick is a rewards app that gives you points for simply entering a store and even more for when you buy, which eventually turns into cash.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Do a Black Friday dry run</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Hit up the shops you plan to visit a few days before they’re swamped with shoppers. Ask about their Black Friday sales and take pictures of the current items in the store to help you visualize what will be available on Friday. If you turn up Friday morning and there are new items that weren’t there before, they were most likely brought in specifically for Black Friday and never sold at a higher cost.&nbsp;Take a look at these easy ways to save $20 a day.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Always compare coupons</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Coupon comparisons are just as important as price comparisons. If you have different coupons for the same store, you may get a better deal with one versus the other. Some stores, like Kohl’s, even let you combine coupons.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Don’t be blinded by discounts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Bargains are for saving money, not spending it. The best discounts are for gifts that are on your list. You’re not saving your wallet by buying more than you planned. Here are last-minute Christmas gifts with free overnight shipping.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Organize a Secret Santa</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Large families with dozens of aunts, uncles, and cousins, this game is for you! Set a price limit and draw names out of a Santa hat to find out who you’re buying for. Not only does it ease the pressure of choosing tons of presents, but it also saves you a chunk of money if you’re not buying for everyone. These are the best Secret Santa ideas for your office.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Save your receipts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Price adjustments are your friend. If a sales item gets marked down lower, return it and buy it back immediately to get the new sale price and ensure you get the best bargain.&nbsp;Receipts are one of the everyday documents you should be shredding.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Stop being a Scrooge</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Christmas is a time of giving to others, not just yourself. Yet in 2015, more than half of shoppers polled spent an average of $132 on themselves, according to a National Retail Federation Survey. You’ll save time and money by spending less on you and more on loved ones.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Always pay in cash</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Keep your credit cards at home. It’s easy to accumulate credit card debt during the holidays by spending money you don’t have in your bank account. Cash is a tangible reminder of how much you physically have to spend.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Boost your holiday budget</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Try selling old clothes to a consignment shop, hosting a garage sale, filling out online surveys for $3&nbsp;at Pinecone Research, or running errands for strangers through TaskRabbit. You’ll have an extra $50 for Christmas shopping before you know it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Sign up for free online trials</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For the last-minute shopper, rush delivery fees to ensure gifts arrive in time can be debilitating.&nbsp;Avoid these extra costs by signing up for a free trial of Amazon Prime or ShopRunner. Amazon Prime and ShopRunner members receive free two-day shipping. ShopRunner members also receive exclusive deals on name brand products like Tommy Hilfiger for a one-time membership fee of $79. Plus, hundreds of online stores have designated December 18 as Free Shipping Day</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Learn from bargain hunters</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Start following blogs like The Krazy Coupon Lady and Cash Cow Couple to learn tips about stretching your dollar. The Krazy Coupon Lady teaches future frugal frannies how to become efficient couponers and also provides the latest steals and deals on items from laundry detergent to Back-to-School.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Throw a Christmas potluck</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Instead of shouldering the entire meal yourself, invite your guests to bring a homemade dish for Christmas dinner to cut your own cost and prep time. Create a Google spreadsheet to track what foods each person&nbsp;will bring or assign dishes for each guest to ensure you have a full feast.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Stack your savings</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The more bargains, the better. Maximize your savings and combine your discounted gift cards, rebate money, and coupons together to save anywhere from 5 to 25 percent off, or possibly more depending on what kinds of deals and discounts you have.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Beware of “goldilocks pricing”</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Retailers like to promote items in threes and the reason is sneaky. If there are three flat-screen TVs displayed at different prices, the shopper will most likely choose the mid-priced option. Shoppers often choose the mid-priced item for two reasons: the cheapest item means&nbsp;low quality and the most expensive item means you risk of paying too much, according to pricing expert and consultant, Mark Stiving’s blog post on Upstream Commerce. To avoid this trap, walk to a different department so you can evaluate your price options clearly.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Buy things in fours</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Four is the magic number when it comes to Christmas lists for your immediate family. Only buy four things for each person: something to wear, something needed, something wished for, and something to read. Remember this nifty trick and you’ll never overbuy again!&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Exchange “used gifts”</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Why buy new presents when your home is filled with potential ones already? Host&nbsp;a used gift exchange with friends and family. Give someone your favorite book, a China dish you’ve never used, or a candle.&nbsp; Just make sure it’s either&nbsp;thoughtful or&nbsp;only gently used, so you don’t look cheap.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.rd.com/list/save-money-holiday-shopping/\">click here.</a></p>\n<!-- /wp:paragraph -->','40 Savvy Tips to Save Money on Christmas Shopping','','inherit','closed','closed','','1909-revision-v1','','','2022-04-25 23:45:36','2022-04-25 23:45:36','',1909,'https://smartinsurance.tips/?p=2393',0,'revision','',0),(2392,1,'2022-04-25 23:45:00','2022-04-25 23:45:00','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":2390,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2022/04/dog-beach-md-headshot-1-1024x797.jpg\" alt=\"\" class=\"wp-image-2390\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Use these essential money-saving tips so you and your bank account glide smoothly through the holiday season.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Butter up sales associates with your charm</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The nicer you are to store employees, the less you spend. “Nobody realizes that there are hidden discounts in almost every shop you walk into,” says Mark Ellwood, author of&nbsp;<em>Bargain Fever: How to Shop in a Discounted World</em>. “All it takes is a smile and a little charm.” Don’t assume there aren’t any discounts in a store just because you don’t see any sale signs. When you walk through the doors, exchange pleasantries with the first salesperson you see, then ask about any discounts for the day. Often, you will save a few bucks or learn to wait and come back for a sale in a few days.&nbsp;Make sure you know the nearly invisible ways stores trick you into spending more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Know your limits</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Don’t fret about buying your family an overload of presents for Christmas. They will also receive gifts from relatives and friends, so there’s no need to spoil them&nbsp;<em>too</em>&nbsp;much if you’re watching your budget. Jordan Page, author of the Fun Cheap or Free blog, recommends giving your kids two presents: the bigger gift from the parents and a smaller one from Santa. “Parents feel a lot of pressure about Santa gifts,” Page says. “This way it gives the parent more control and the kid is more understanding about what they do and don’t get for Christmas from Santa.” Use these psychology tricks to spend less in stores.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Embrace online shopping</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Surfing the web for Christmas presents is great for two reasons: You avoid the holiday crowds and it keeps you from grabbing more than you need. “At a brick and mortar store, I find things I never needed that I have to have, but online shopping restricts me,” says Sami Cone, author, blogger, and creator of the&nbsp;<em>Family Money Minute&nbsp;</em>podcast.&nbsp;“When I’m shopping online, I know what I want, I search it, and I buy it.” Here are more tips for saving money on holiday shopping.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Make a gift list</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Create a shopping plan at home so you’re not swayed by store marketing strategies. Play-it-by-ear shoppers never fail to overspend, but thrifty shoppers know how much they are going to spend and what they want to buy before they enter the store. These are the spending habits personal finance experts hate the most.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Opt for a layaway plan</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For people with a limited income, layaway plans are much gentler on your pocket book and credit score. You simply grab your item, bring it to the layaway desk, and pay off your purchase in feasible payment chunks. Once it’s all paid off, you can take it home with you! Burlington Coat Factory lets you layaway your purchases all year for a $5 service fee and 20 percent deposit toward your payment. Make sure to plan ahead for this option, otherwise you may not have your gifts in time for Christmas.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Grab a shopping buddy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most coupons require you to spend a certain amount of money to get the discount; the kicker is, you miss out on the deal if you didn’t plan on spending that much. If there’s a deal you just can’t turn down, take a friend shopping. You can pool your purchases and both nab the savings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Skip the mall</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As the saying goes, “one man’s trash is another man’s treasure.” Thrift stores and garage sales are hidden treasure troves filled with potential presents that won’t empty your wallet. “This time of year, tons of donations flood into thrift stores, from parents clearing out toy rooms to people doing some good,” Page says. Make sure you know which items to never buy online.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Download coupon apps</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Technology is every savvy shopper’s savings dream. Up to 78 percent of millennial parents use their smartphones to research products, check prices or availability, or even pay at the checkout, according to the National Retail Federation. A simple swipe of your finger allows apps like Shopular to show you all the sales in your favorite stores. RetailMeNot provides coupon and promo codes for both online and in-store shopping. This is the best time to buy thesecheap finds throughout the year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Buy experiences</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s easy to get caught up in the materialism of the holidays and forget the true meaning of Christmas: making memories. Instead of buying futile trinkets that will just gather dust, spend your shopping money on, say, a vacation or a zoo membership. Groupon is a handy site for snagging discounted rates on spa days, dinner dates, excursions, the theater, and more.&nbsp;&nbsp;“Our family would rather sacrifice the stuff so we can make memories together,” Cone says. These are a few bucket list vacations that are cheaper than a trip to Disney.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Don’t forget about price matching</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Skip the crazy Black Friday lines at the mall and hit up the stores in your neighborhood and you might score some deals. Before you make the trek out, call the store and ask about their price matching policies. If they say yes, go to the store and show the cashier a competing store’s sales ad on your phone or in a flyer so they can match their competitor’s sale price.&nbsp;If you can handle the crowds, many big retail stores like Target also tout their price match policies. “There are too many shops and not enough shoppers,” Ellwood says. “Shops need us more than you need them.” These are the money-saving secrets Target employees won’t tell you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Take your time when shopping online</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you’re not registered to every online store you shop in, you should be. Registered customers get a tailored shopping experience with product recommendations and insider knowledge on the latest promotions. Then add items to your virtual cart, close the window, and wait. If you’re patient, the retailer will remind you that there are items waiting in your basket. Often, they will send you a 10 to 20 percent off incentive to complete your transaction. Or try messaging an online customer service member and kindly ask if they can give you a discount.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Day-trip to an outlet mall</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you like designer brands but not their price, plan a trip with some friends and head to the outlets. Some outlet malls let you register for free as a VIP member, which scores you a coupon booklet. You can land even more savings by asking for another different coupon booklet at the outlet’s customer service center. These two options let you compare and contrast which coupon has the better savings. But don’t let the bargains veer you away from your gift list. Some outlet mall items are made specifically for the outlets, which means they were never sold at the higher price, so you’re not saving any money. Try out these fashion upgrades to make your outfits look expensive.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Think before you buy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Give yourself time to think about if a gift is worth purchasing for someone or just an impulse buy. Try counting to three or walking away to clear your mind. “In our family, we don’t buy things the first time we see it,” Cone said. “Sometimes just walking away removes the desire.” Never fall for these money-saving tips that don’t actually pay off.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Pace yourself</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A smart shopper thinks about Christmas shopping all year round. In the months leading up to Christmas, gradually shop little by little, which saves you from blowing hundreds of dollars in a single month. Experts recommend shopping for Christmas the week after the holiday ends so you can catch all the clearance items. “It allows you to have a fabulous, generous Christmas and still be able to do other things around the year,” Page says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Use discounted gift cards to buy presents</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Cardpool and Raise are both online marketplaces where people sell back their unused gift cards for up to 35 percent off. This way, you can add an additional discount to your marked-down store purchase. These are the best gift cards for everyone on your list.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Go halvsies on a gift</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Why pay full price for a gift when you can split the cost with a sibling or friend? “This way you’re not spending a lot of money and giving something with a little more meaning and use,” Cone says. Here are ridiculously easy ways to save money without feeling the pinch.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Create an online shopping browser</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are two add-ons every frugal shopper needs for their Google Chrome or Mozilla Firefox browsers:&nbsp;The Camelizer and Honey. “You can use these to torpedo the price of anything you buy online,” Ellwood says. The Camelizer is made for Amazon and displays an item’s price history and lets you set up a price alert when Amazon sells it at your desired price. When you’re ready to checkout in an online retail store, click on the Honey icon to scour the Internet for every discount code that applies to your purchase. Unfortunately, this add-on is still fairly new, so expect some glitches. Try pinching more pennies with sites like savings.com or do a Google search for discount codes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Let your kids use their own money</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If your child’s piggy bank is full and they’re old enough to buy their own presents for family and friends, there’s no need for you to cough up the cash for them. It gives you an opportunity to teach them how to save money and think creatively. “Don’t feel obligated to bail your kids out,” Page says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Don’t rely on Black Friday</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For some shoppers, Black Friday is an annual holiday tradition; for others, it’s five cups of coffee and a raging headache. The Black Friday hype is designed to lure shoppers into the store and buy things they don’t need for the sake of a bargain. And, some of the products are cheap because they were “Black Friday stock,” so you’re not really saving that much because they’d be sold for cheap anyway. “Black Friday is always a little bit of a bait and switch,” Ellwood says.&nbsp;Here are more Black Friday deals that you’re better off passing up.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Get crafty</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Get those creative juices flowing! Nothing says “I love you” more than a thoughtful homemade gift from the heart. Bake someone their favorite pie, scrapbook a photo album, or design personalized coupons for quality time. “One Christmas my husband and I were living paycheck to paycheck, so we made our presents,” Page says. “It was one of the most thoughtful Christmases we had.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>“Window shop” ahead of time</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Many stores release their Black Friday deals online a week before. If you scope out the prices ahead of time, you can gauge whether the price difference is worth the hassle of dealing with the Black Friday chaos. Make sure to avoid these Black Friday shopping mistakes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Shop in zen mode</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Play soothing music through your ear buds to mellow out before hitting the sales racks. Your brain’s dopamine levels, or “feel good” juices, may spike at the sight of a sale sign because it’s exciting to buy a nice, new item at a super low price. But this “shopping high” may also have its consequences. if you walk into a store overwhelmed by the numerous sales signs, your dopamine levels kick into overdrive, which may cause you to go on a spending frenzy that you may regret later. “Try to get yourself as calm as possible,” Ellwood says. “That will prevent the dopamine from highjacking your brain.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Set a Christmas dinner budget</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s not all about the presents; a Christmas feast is what truly brings everyone together. But when you’re cooking for a dozen or more, the dollar signs start to multiply.&nbsp;Set a budget for your food just like you would for presents. An app like Favado or websites like Deals to Meals help you track grocery deals and plan your meals around what’s on sale. When you don’t have to pay full price for food, you can afford to buy more for less and freeze it for later in the year, which is an added bonus. This is what the Royal family eats on Christmas Day, according to their personal chef.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Start a Christmas savings account</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Open up a savings account and deposit a piece of your paycheck each month; whether it’s a dollar a day or $50 a month, a little bit goes a long way. Some banks even have a monetary incentive to open a new account, like Capital One, which gives you $25 if you open a new account with a $250 deposit.&nbsp;“When people think Christmas, they think presents, but you may also have travel, stockings, and dinner. It’s an expensive season and this helps quell that,” Page says.&nbsp;Start these habits to become a good money saver.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Make a buck while you shop</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s just as easy to earn cash back as it is to spend it. All you need to know is where to go.&nbsp;The app Paribus automatically tracks your online purchases; if the item goes on sale after you purchase it, the app will automatically reimburse you for the price difference. Ebates gives you cash back for buying an item from more than 2,000 online retailers like Amazon and Walmart. Other apps like Ibotta deposit your rebate money into your PayPal account within a day. Shopkick is a rewards app that gives you points for simply entering a store and even more for when you buy, which eventually turns into cash.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Do a Black Friday dry run</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Hit up the shops you plan to visit a few days before they’re swamped with shoppers. Ask about their Black Friday sales and take pictures of the current items in the store to help you visualize what will be available on Friday. If you turn up Friday morning and there are new items that weren’t there before, they were most likely brought in specifically for Black Friday and never sold at a higher cost.&nbsp;Take a look at these easy ways to save $20 a day.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Always compare coupons</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Coupon comparisons are just as important as price comparisons. If you have different coupons for the same store, you may get a better deal with one versus the other. Some stores, like Kohl’s, even let you combine coupons.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Don’t be blinded by discounts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Bargains are for saving money, not spending it. The best discounts are for gifts that are on your list. You’re not saving your wallet by buying more than you planned. Here are last-minute Christmas gifts with free overnight shipping.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Organize a Secret Santa</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Large families with dozens of aunts, uncles, and cousins, this game is for you! Set a price limit and draw names out of a Santa hat to find out who you’re buying for. Not only does it ease the pressure of choosing tons of presents, but it also saves you a chunk of money if you’re not buying for everyone. These are the best Secret Santa ideas for your office.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Save your receipts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Price adjustments are your friend. If a sales item gets marked down lower, return it and buy it back immediately to get the new sale price and ensure you get the best bargain.&nbsp;Receipts are one of the everyday documents you should be shredding.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Stop being a Scrooge</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Christmas is a time of giving to others, not just yourself. Yet in 2015, more than half of shoppers polled spent an average of $132 on themselves, according to a National Retail Federation Survey. You’ll save time and money by spending less on you and more on loved ones.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Always pay in cash</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Keep your credit cards at home. It’s easy to accumulate credit card debt during the holidays by spending money you don’t have in your bank account. Cash is a tangible reminder of how much you physically have to spend.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Boost your holiday budget</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Try selling old clothes to a consignment shop, hosting a garage sale, filling out online surveys for $3&nbsp;at Pinecone Research, or running errands for strangers through TaskRabbit. You’ll have an extra $50 for Christmas shopping before you know it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Sign up for free online trials</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For the last-minute shopper, rush delivery fees to ensure gifts arrive in time can be debilitating.&nbsp;Avoid these extra costs by signing up for a free trial of Amazon Prime or ShopRunner. Amazon Prime and ShopRunner members receive free two-day shipping. ShopRunner members also receive exclusive deals on name brand products like Tommy Hilfiger for a one-time membership fee of $79. Plus, hundreds of online stores have designated December 18 as Free Shipping Day</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Learn from bargain hunters</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Start following blogs like The Krazy Coupon Lady and Cash Cow Couple to learn tips about stretching your dollar. The Krazy Coupon Lady teaches future frugal frannies how to become efficient couponers and also provides the latest steals and deals on items from laundry detergent to Back-to-School.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Throw a Christmas potluck</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Instead of shouldering the entire meal yourself, invite your guests to bring a homemade dish for Christmas dinner to cut your own cost and prep time. Create a Google spreadsheet to track what foods each person&nbsp;will bring or assign dishes for each guest to ensure you have a full feast.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Stack your savings</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The more bargains, the better. Maximize your savings and combine your discounted gift cards, rebate money, and coupons together to save anywhere from 5 to 25 percent off, or possibly more depending on what kinds of deals and discounts you have.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Beware of “goldilocks pricing”</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Retailers like to promote items in threes and the reason is sneaky. If there are three flat-screen TVs displayed at different prices, the shopper will most likely choose the mid-priced option. Shoppers often choose the mid-priced item for two reasons: the cheapest item means&nbsp;low quality and the most expensive item means you risk of paying too much, according to pricing expert and consultant, Mark Stiving’s blog post on Upstream Commerce. To avoid this trap, walk to a different department so you can evaluate your price options clearly.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Buy things in fours</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Four is the magic number when it comes to Christmas lists for your immediate family. Only buy four things for each person: something to wear, something needed, something wished for, and something to read. Remember this nifty trick and you’ll never overbuy again!&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Exchange “used gifts”</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Why buy new presents when your home is filled with potential ones already? Host&nbsp;a used gift exchange with friends and family. Give someone your favorite book, a China dish you’ve never used, or a candle.&nbsp; Just make sure it’s either&nbsp;thoughtful or&nbsp;only gently used, so you don’t look cheap.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.rd.com/list/save-money-holiday-shopping/\">click here.</a></p>\n<!-- /wp:paragraph -->','40 Savvy Tips to Save Money on Christmas Shopping','','inherit','closed','closed','','1909-revision-v1','','','2022-04-25 23:45:00','2022-04-25 23:45:00','',1909,'https://smartinsurance.tips/?p=2392',0,'revision','',0),(2394,1,'2022-04-25 23:45:39','2022-04-25 23:45:39','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":2379,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/down-payment-on-summary-1024x343.png\" alt=\"\" class=\"wp-image-2379\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Use these essential money-saving tips so you and your bank account glide smoothly through the holiday season.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Butter up sales associates with your charm</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The nicer you are to store employees, the less you spend. “Nobody realizes that there are hidden discounts in almost every shop you walk into,” says Mark Ellwood, author of&nbsp;<em>Bargain Fever: How to Shop in a Discounted World</em>. “All it takes is a smile and a little charm.” Don’t assume there aren’t any discounts in a store just because you don’t see any sale signs. When you walk through the doors, exchange pleasantries with the first salesperson you see, then ask about any discounts for the day. Often, you will save a few bucks or learn to wait and come back for a sale in a few days.&nbsp;Make sure you know the nearly invisible ways stores trick you into spending more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Know your limits</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Don’t fret about buying your family an overload of presents for Christmas. They will also receive gifts from relatives and friends, so there’s no need to spoil them&nbsp;<em>too</em>&nbsp;much if you’re watching your budget. Jordan Page, author of the Fun Cheap or Free blog, recommends giving your kids two presents: the bigger gift from the parents and a smaller one from Santa. “Parents feel a lot of pressure about Santa gifts,” Page says. “This way it gives the parent more control and the kid is more understanding about what they do and don’t get for Christmas from Santa.” Use these psychology tricks to spend less in stores.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Embrace online shopping</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Surfing the web for Christmas presents is great for two reasons: You avoid the holiday crowds and it keeps you from grabbing more than you need. “At a brick and mortar store, I find things I never needed that I have to have, but online shopping restricts me,” says Sami Cone, author, blogger, and creator of the&nbsp;<em>Family Money Minute&nbsp;</em>podcast.&nbsp;“When I’m shopping online, I know what I want, I search it, and I buy it.” Here are more tips for saving money on holiday shopping.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Make a gift list</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Create a shopping plan at home so you’re not swayed by store marketing strategies. Play-it-by-ear shoppers never fail to overspend, but thrifty shoppers know how much they are going to spend and what they want to buy before they enter the store. These are the spending habits personal finance experts hate the most.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Opt for a layaway plan</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For people with a limited income, layaway plans are much gentler on your pocket book and credit score. You simply grab your item, bring it to the layaway desk, and pay off your purchase in feasible payment chunks. Once it’s all paid off, you can take it home with you! Burlington Coat Factory lets you layaway your purchases all year for a $5 service fee and 20 percent deposit toward your payment. Make sure to plan ahead for this option, otherwise you may not have your gifts in time for Christmas.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Grab a shopping buddy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most coupons require you to spend a certain amount of money to get the discount; the kicker is, you miss out on the deal if you didn’t plan on spending that much. If there’s a deal you just can’t turn down, take a friend shopping. You can pool your purchases and both nab the savings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Skip the mall</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As the saying goes, “one man’s trash is another man’s treasure.” Thrift stores and garage sales are hidden treasure troves filled with potential presents that won’t empty your wallet. “This time of year, tons of donations flood into thrift stores, from parents clearing out toy rooms to people doing some good,” Page says. Make sure you know which items to never buy online.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Download coupon apps</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Technology is every savvy shopper’s savings dream. Up to 78 percent of millennial parents use their smartphones to research products, check prices or availability, or even pay at the checkout, according to the National Retail Federation. A simple swipe of your finger allows apps like Shopular to show you all the sales in your favorite stores. RetailMeNot provides coupon and promo codes for both online and in-store shopping. This is the best time to buy thesecheap finds throughout the year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Buy experiences</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s easy to get caught up in the materialism of the holidays and forget the true meaning of Christmas: making memories. Instead of buying futile trinkets that will just gather dust, spend your shopping money on, say, a vacation or a zoo membership. Groupon is a handy site for snagging discounted rates on spa days, dinner dates, excursions, the theater, and more.&nbsp;&nbsp;“Our family would rather sacrifice the stuff so we can make memories together,” Cone says. These are a few bucket list vacations that are cheaper than a trip to Disney.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Don’t forget about price matching</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Skip the crazy Black Friday lines at the mall and hit up the stores in your neighborhood and you might score some deals. Before you make the trek out, call the store and ask about their price matching policies. If they say yes, go to the store and show the cashier a competing store’s sales ad on your phone or in a flyer so they can match their competitor’s sale price.&nbsp;If you can handle the crowds, many big retail stores like Target also tout their price match policies. “There are too many shops and not enough shoppers,” Ellwood says. “Shops need us more than you need them.” These are the money-saving secrets Target employees won’t tell you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Take your time when shopping online</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you’re not registered to every online store you shop in, you should be. Registered customers get a tailored shopping experience with product recommendations and insider knowledge on the latest promotions. Then add items to your virtual cart, close the window, and wait. If you’re patient, the retailer will remind you that there are items waiting in your basket. Often, they will send you a 10 to 20 percent off incentive to complete your transaction. Or try messaging an online customer service member and kindly ask if they can give you a discount.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Day-trip to an outlet mall</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you like designer brands but not their price, plan a trip with some friends and head to the outlets. Some outlet malls let you register for free as a VIP member, which scores you a coupon booklet. You can land even more savings by asking for another different coupon booklet at the outlet’s customer service center. These two options let you compare and contrast which coupon has the better savings. But don’t let the bargains veer you away from your gift list. Some outlet mall items are made specifically for the outlets, which means they were never sold at the higher price, so you’re not saving any money. Try out these fashion upgrades to make your outfits look expensive.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Think before you buy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Give yourself time to think about if a gift is worth purchasing for someone or just an impulse buy. Try counting to three or walking away to clear your mind. “In our family, we don’t buy things the first time we see it,” Cone said. “Sometimes just walking away removes the desire.” Never fall for these money-saving tips that don’t actually pay off.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Pace yourself</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A smart shopper thinks about Christmas shopping all year round. In the months leading up to Christmas, gradually shop little by little, which saves you from blowing hundreds of dollars in a single month. Experts recommend shopping for Christmas the week after the holiday ends so you can catch all the clearance items. “It allows you to have a fabulous, generous Christmas and still be able to do other things around the year,” Page says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Use discounted gift cards to buy presents</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Cardpool and Raise are both online marketplaces where people sell back their unused gift cards for up to 35 percent off. This way, you can add an additional discount to your marked-down store purchase. These are the best gift cards for everyone on your list.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Go halvsies on a gift</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Why pay full price for a gift when you can split the cost with a sibling or friend? “This way you’re not spending a lot of money and giving something with a little more meaning and use,” Cone says. Here are ridiculously easy ways to save money without feeling the pinch.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Create an online shopping browser</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are two add-ons every frugal shopper needs for their Google Chrome or Mozilla Firefox browsers:&nbsp;The Camelizer and Honey. “You can use these to torpedo the price of anything you buy online,” Ellwood says. The Camelizer is made for Amazon and displays an item’s price history and lets you set up a price alert when Amazon sells it at your desired price. When you’re ready to checkout in an online retail store, click on the Honey icon to scour the Internet for every discount code that applies to your purchase. Unfortunately, this add-on is still fairly new, so expect some glitches. Try pinching more pennies with sites like savings.com or do a Google search for discount codes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Let your kids use their own money</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If your child’s piggy bank is full and they’re old enough to buy their own presents for family and friends, there’s no need for you to cough up the cash for them. It gives you an opportunity to teach them how to save money and think creatively. “Don’t feel obligated to bail your kids out,” Page says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Don’t rely on Black Friday</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For some shoppers, Black Friday is an annual holiday tradition; for others, it’s five cups of coffee and a raging headache. The Black Friday hype is designed to lure shoppers into the store and buy things they don’t need for the sake of a bargain. And, some of the products are cheap because they were “Black Friday stock,” so you’re not really saving that much because they’d be sold for cheap anyway. “Black Friday is always a little bit of a bait and switch,” Ellwood says.&nbsp;Here are more Black Friday deals that you’re better off passing up.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Get crafty</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Get those creative juices flowing! Nothing says “I love you” more than a thoughtful homemade gift from the heart. Bake someone their favorite pie, scrapbook a photo album, or design personalized coupons for quality time. “One Christmas my husband and I were living paycheck to paycheck, so we made our presents,” Page says. “It was one of the most thoughtful Christmases we had.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>“Window shop” ahead of time</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Many stores release their Black Friday deals online a week before. If you scope out the prices ahead of time, you can gauge whether the price difference is worth the hassle of dealing with the Black Friday chaos. Make sure to avoid these Black Friday shopping mistakes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Shop in zen mode</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Play soothing music through your ear buds to mellow out before hitting the sales racks. Your brain’s dopamine levels, or “feel good” juices, may spike at the sight of a sale sign because it’s exciting to buy a nice, new item at a super low price. But this “shopping high” may also have its consequences. if you walk into a store overwhelmed by the numerous sales signs, your dopamine levels kick into overdrive, which may cause you to go on a spending frenzy that you may regret later. “Try to get yourself as calm as possible,” Ellwood says. “That will prevent the dopamine from highjacking your brain.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Set a Christmas dinner budget</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s not all about the presents; a Christmas feast is what truly brings everyone together. But when you’re cooking for a dozen or more, the dollar signs start to multiply.&nbsp;Set a budget for your food just like you would for presents. An app like Favado or websites like Deals to Meals help you track grocery deals and plan your meals around what’s on sale. When you don’t have to pay full price for food, you can afford to buy more for less and freeze it for later in the year, which is an added bonus. This is what the Royal family eats on Christmas Day, according to their personal chef.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Start a Christmas savings account</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Open up a savings account and deposit a piece of your paycheck each month; whether it’s a dollar a day or $50 a month, a little bit goes a long way. Some banks even have a monetary incentive to open a new account, like Capital One, which gives you $25 if you open a new account with a $250 deposit.&nbsp;“When people think Christmas, they think presents, but you may also have travel, stockings, and dinner. It’s an expensive season and this helps quell that,” Page says.&nbsp;Start these habits to become a good money saver.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Make a buck while you shop</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s just as easy to earn cash back as it is to spend it. All you need to know is where to go.&nbsp;The app Paribus automatically tracks your online purchases; if the item goes on sale after you purchase it, the app will automatically reimburse you for the price difference. Ebates gives you cash back for buying an item from more than 2,000 online retailers like Amazon and Walmart. Other apps like Ibotta deposit your rebate money into your PayPal account within a day. Shopkick is a rewards app that gives you points for simply entering a store and even more for when you buy, which eventually turns into cash.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Do a Black Friday dry run</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Hit up the shops you plan to visit a few days before they’re swamped with shoppers. Ask about their Black Friday sales and take pictures of the current items in the store to help you visualize what will be available on Friday. If you turn up Friday morning and there are new items that weren’t there before, they were most likely brought in specifically for Black Friday and never sold at a higher cost.&nbsp;Take a look at these easy ways to save $20 a day.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Always compare coupons</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Coupon comparisons are just as important as price comparisons. If you have different coupons for the same store, you may get a better deal with one versus the other. Some stores, like Kohl’s, even let you combine coupons.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Don’t be blinded by discounts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Bargains are for saving money, not spending it. The best discounts are for gifts that are on your list. You’re not saving your wallet by buying more than you planned. Here are last-minute Christmas gifts with free overnight shipping.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Organize a Secret Santa</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Large families with dozens of aunts, uncles, and cousins, this game is for you! Set a price limit and draw names out of a Santa hat to find out who you’re buying for. Not only does it ease the pressure of choosing tons of presents, but it also saves you a chunk of money if you’re not buying for everyone. These are the best Secret Santa ideas for your office.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Save your receipts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Price adjustments are your friend. If a sales item gets marked down lower, return it and buy it back immediately to get the new sale price and ensure you get the best bargain.&nbsp;Receipts are one of the everyday documents you should be shredding.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Stop being a Scrooge</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Christmas is a time of giving to others, not just yourself. Yet in 2015, more than half of shoppers polled spent an average of $132 on themselves, according to a National Retail Federation Survey. You’ll save time and money by spending less on you and more on loved ones.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Always pay in cash</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Keep your credit cards at home. It’s easy to accumulate credit card debt during the holidays by spending money you don’t have in your bank account. Cash is a tangible reminder of how much you physically have to spend.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Boost your holiday budget</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Try selling old clothes to a consignment shop, hosting a garage sale, filling out online surveys for $3&nbsp;at Pinecone Research, or running errands for strangers through TaskRabbit. You’ll have an extra $50 for Christmas shopping before you know it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Sign up for free online trials</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For the last-minute shopper, rush delivery fees to ensure gifts arrive in time can be debilitating.&nbsp;Avoid these extra costs by signing up for a free trial of Amazon Prime or ShopRunner. Amazon Prime and ShopRunner members receive free two-day shipping. ShopRunner members also receive exclusive deals on name brand products like Tommy Hilfiger for a one-time membership fee of $79. Plus, hundreds of online stores have designated December 18 as Free Shipping Day</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Learn from bargain hunters</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Start following blogs like The Krazy Coupon Lady and Cash Cow Couple to learn tips about stretching your dollar. The Krazy Coupon Lady teaches future frugal frannies how to become efficient couponers and also provides the latest steals and deals on items from laundry detergent to Back-to-School.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Throw a Christmas potluck</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Instead of shouldering the entire meal yourself, invite your guests to bring a homemade dish for Christmas dinner to cut your own cost and prep time. Create a Google spreadsheet to track what foods each person&nbsp;will bring or assign dishes for each guest to ensure you have a full feast.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Stack your savings</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The more bargains, the better. Maximize your savings and combine your discounted gift cards, rebate money, and coupons together to save anywhere from 5 to 25 percent off, or possibly more depending on what kinds of deals and discounts you have.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Beware of “goldilocks pricing”</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Retailers like to promote items in threes and the reason is sneaky. If there are three flat-screen TVs displayed at different prices, the shopper will most likely choose the mid-priced option. Shoppers often choose the mid-priced item for two reasons: the cheapest item means&nbsp;low quality and the most expensive item means you risk of paying too much, according to pricing expert and consultant, Mark Stiving’s blog post on Upstream Commerce. To avoid this trap, walk to a different department so you can evaluate your price options clearly.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Buy things in fours</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Four is the magic number when it comes to Christmas lists for your immediate family. Only buy four things for each person: something to wear, something needed, something wished for, and something to read. Remember this nifty trick and you’ll never overbuy again!&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Exchange “used gifts”</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Why buy new presents when your home is filled with potential ones already? Host&nbsp;a used gift exchange with friends and family. Give someone your favorite book, a China dish you’ve never used, or a candle.&nbsp; Just make sure it’s either&nbsp;thoughtful or&nbsp;only gently used, so you don’t look cheap.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.rd.com/list/save-money-holiday-shopping/\">click here.</a></p>\n<!-- /wp:paragraph -->','40 Savvy Tips to Save Money on Christmas Shopping','','inherit','closed','closed','','1909-autosave-v1','','','2022-04-25 23:45:39','2022-04-25 23:45:39','',1909,'https://smartinsurance.tips/?p=2394',0,'revision','',0),(2397,1,'2022-04-25 23:52:19','2022-04-25 23:52:19','<!-- wp:paragraph -->\n<p>A New York judge on Monday held former President Donald Trump in contempt, and fined him $10,000 per day, for failing to comply with a subpoena requiring he turn over documents to investigators conducting a sprawling financial fraud probe for New York Attorney General Letitia James.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Mr. Trump, I know you take your business seriously, and I take mine seriously, I hereby hold you in civil contempt and fine you $10,000 a day,\" said New York Supreme Court judge Arthur Engoron. The judge\'s written order will be filed tomorrow.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Trump attorney Alina Habba said after the hearing that they plan to appeal.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"large\"} -->\n<p class=\"has-large-font-size\"><strong>A New York judge on Monday held former President Donald Trump in contempt, and fined him $10,000 per day, for failing to comply with a subpoena requiring he turn over documents to investigators conducting a sprawling financial fraud probe for New York Attorney General Letitia James.</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Mr. Trump, I know you take your business seriously, and I take mine seriously, I hereby hold you in civil contempt and fine you $10,000 a day,\" said New York Supreme Court judge Arthur Engoron. The judge\'s written order will be filed tomorrow.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Trump attorney Alina Habba said after the hearing that they plan to appeal.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":2371,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/dog-beach-md-headshot.jpg\" alt=\"\" class=\"wp-image-2371\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->','Test Page','','publish','closed','closed','','test-page-3','','','2022-04-25 23:52:19','2022-04-25 23:52:19','',0,'https://smartinsurance.tips/?page_id=2397',0,'page','',0),(2398,1,'2022-04-25 23:52:19','2022-04-25 23:52:19','<!-- wp:paragraph -->\n<p>A New York judge on Monday held former President Donald Trump in contempt, and fined him $10,000 per day, for failing to comply with a subpoena requiring he turn over documents to investigators conducting a sprawling financial fraud probe for New York Attorney General Letitia James.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Mr. Trump, I know you take your business seriously, and I take mine seriously, I hereby hold you in civil contempt and fine you $10,000 a day,\" said New York Supreme Court judge Arthur Engoron. The judge\'s written order will be filed tomorrow.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Trump attorney Alina Habba said after the hearing that they plan to appeal.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"large\"} -->\n<p class=\"has-large-font-size\"><strong>A New York judge on Monday held former President Donald Trump in contempt, and fined him $10,000 per day, for failing to comply with a subpoena requiring he turn over documents to investigators conducting a sprawling financial fraud probe for New York Attorney General Letitia James.</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Mr. Trump, I know you take your business seriously, and I take mine seriously, I hereby hold you in civil contempt and fine you $10,000 a day,\" said New York Supreme Court judge Arthur Engoron. The judge\'s written order will be filed tomorrow.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Trump attorney Alina Habba said after the hearing that they plan to appeal.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":2371,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/dog-beach-md-headshot.jpg\" alt=\"\" class=\"wp-image-2371\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->','Test Page','','inherit','closed','closed','','2397-revision-v1','','','2022-04-25 23:52:19','2022-04-25 23:52:19','',2397,'https://smartinsurance.tips/?p=2398',0,'revision','',0),(2399,1,'2022-04-26 14:38:31','2022-04-26 14:38:31','<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Stay ahead of inflation by putting your money in high-yield savings accounts and investments.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":2225,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Money-1-1024x536.png\" alt=\"\" class=\"wp-image-2225\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">One million dollars might sound like a lot of money — and it is — but in 10 years it will probably sound like less money because it will have less buying power than it does today.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The reason is inflation, and it can impact how you plan for your financial future. Here’s a look at what inflation is and how it can affect your savings, as well as how to keep it from derailing your short- and long-term financial goals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What is inflation?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Broadly speaking, inflation is the rate of increase in prices for goods and services. It can happen because of an increase in the cost of producing those goods and services. Another reason could be that demand is higher than the supply, leading to price increases. Whatever the cause, as prices rise, you\'ll need more money to buy the same things you used to buy for less.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How inflation affects savings?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Along with a change in prices, inflation can affect your savings and how much you need to put away for unexpected financial emergencies. A good emergency savings fund should have enough money to cover three to six months of living expenses. But over time, if your expenses increase because of inflation, the amount you need to put away should increase, too, or else you could come up short in a pinch.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How much are prices rising?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Near the end of 2021, inflation topped 6% according to the Consumer Price Index, published by the Bureau of Labor Statistics. This index is one of the most common measures of inflation. So, if you kept cash in a safe — instead of depositing it in an interest-earning savings account — you would expect it to have 6% less spending power this time next year due to inflation if the rate stays the same. For historical context, the long-term average rate of inflation has generally been between 2% and 4% annually.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Where to put your money to help combat inflation?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You can’t stop inflation, but you can make your money work to try and keep up with it. These strategies can help.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Put short-term savings in a high-yield account</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The best savings accounts currently earn around 0.40% annual percentage yield and while that may not currently beat inflation, it is much more than the average savings rate of 0.06%, and will get you more money than the zero extra dollars you’d earn if you stash your cash in a safe. It\'s important to note that the role of your short-term savings is to provide easy access to your money when you need it, not necessarily keep up with inflation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You’ll want to get in the habit of adding up your monthly expenses on a regular basis and comparing the total to how much you have saved (remember that three to six months’ worth is ideal). If your savings balance needs a boost, consider setting up regular automatic deposits from checking to savings — you could transfer a certain amount each payday, for example — to build your rainy day fund.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Use investments for long-term savings</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If your short-term savings is fully funded and you are looking for ways to make your extra money work harder against inflation, consider that the stock market has had average returns in the past century of about 10% annually. There is no guarantee that future earnings will continue to match that rate, and when you factor in inflation, it could leave the real return closer to 4%. But even so, investments can be your best bet for earning long-term returns that beat inflation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you are saving for retirement, you can put your investments in a 401(k) or IRA and take advantage of valuable tax benefits, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Should I worry about the cost of inflation?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Inflation isn’t always bad news. As prices rise due to increased demand, businesses may need to hire more workers to fill that demand, which can lead to higher wages. In addition, government benefits, including Social Security, may have cost-of-living increases. If recipients are able to keep at least some costs low, it could mean more spending power.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Lower inflation rates, on the other hand, can lead to lower interest rates, which makes it harder for savers to earn high yields in their accounts. Overall, the Federal Reserve holds its long-term target rate for inflation at 2%.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You can’t control inflation, but you don’t have to let it erode your savings, either. Be smart about where you put your money, keep an eye on your expenses and you can reach your savings goals without missing a beat.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.nerdwallet.com/article/banking/how-to-stop-inflation-from-sinking-your-savings-goals\">click here.</a></p>\n<!-- /wp:paragraph -->','','','inherit','closed','closed','','2224-autosave-v1','','','2022-04-26 14:38:31','2022-04-26 14:38:31','',2224,'http://smartinsurance.tips/?p=2399',0,'revision','',0),(2400,1,'2022-04-26 14:40:07','2022-04-26 14:40:07','','Money-1','','inherit','open','closed','','money-1-2','','','2022-04-26 14:40:07','2022-04-26 14:40:07','',2224,'http://smartinsurance.tips/wp-content/uploads/2022/04/Money-1.png',0,'attachment','image/png',0),(2401,1,'2022-04-26 14:40:26','2022-04-26 14:40:26','<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Stay ahead of inflation by putting your money in high-yield savings accounts and investments.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":2400,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Money-1-1024x536.png\" alt=\"\" class=\"wp-image-2400\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">One million dollars might sound like a lot of money — and it is — but in 10 years it will probably sound like less money because it will have less buying power than it does today.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The reason is inflation, and it can impact how you plan for your financial future. Here’s a look at what inflation is and how it can affect your savings, as well as how to keep it from derailing your short- and long-term financial goals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What is inflation?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Broadly speaking, inflation is the rate of increase in prices for goods and services. It can happen because of an increase in the cost of producing those goods and services. Another reason could be that demand is higher than the supply, leading to price increases. Whatever the cause, as prices rise, you\'ll need more money to buy the same things you used to buy for less.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How inflation affects savings?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Along with a change in prices, inflation can affect your savings and how much you need to put away for unexpected financial emergencies. A good emergency savings fund should have enough money to cover three to six months of living expenses. But over time, if your expenses increase because of inflation, the amount you need to put away should increase, too, or else you could come up short in a pinch.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How much are prices rising?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Near the end of 2021, inflation topped 6% according to the Consumer Price Index, published by the Bureau of Labor Statistics. This index is one of the most common measures of inflation. So, if you kept cash in a safe — instead of depositing it in an interest-earning savings account — you would expect it to have 6% less spending power this time next year due to inflation if the rate stays the same. For historical context, the long-term average rate of inflation has generally been between 2% and 4% annually.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Where to put your money to help combat inflation?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You can’t stop inflation, but you can make your money work to try and keep up with it. These strategies can help.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Put short-term savings in a high-yield account</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The best savings accounts currently earn around 0.40% annual percentage yield and while that may not currently beat inflation, it is much more than the average savings rate of 0.06%, and will get you more money than the zero extra dollars you’d earn if you stash your cash in a safe. It\'s important to note that the role of your short-term savings is to provide easy access to your money when you need it, not necessarily keep up with inflation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You’ll want to get in the habit of adding up your monthly expenses on a regular basis and comparing the total to how much you have saved (remember that three to six months’ worth is ideal). If your savings balance needs a boost, consider setting up regular automatic deposits from checking to savings — you could transfer a certain amount each payday, for example — to build your rainy day fund.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Use investments for long-term savings</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If your short-term savings is fully funded and you are looking for ways to make your extra money work harder against inflation, consider that the stock market has had average returns in the past century of about 10% annually. There is no guarantee that future earnings will continue to match that rate, and when you factor in inflation, it could leave the real return closer to 4%. But even so, investments can be your best bet for earning long-term returns that beat inflation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you are saving for retirement, you can put your investments in a 401(k) or IRA and take advantage of valuable tax benefits, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Should I worry about the cost of inflation?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Inflation isn’t always bad news. As prices rise due to increased demand, businesses may need to hire more workers to fill that demand, which can lead to higher wages. In addition, government benefits, including Social Security, may have cost-of-living increases. If recipients are able to keep at least some costs low, it could mean more spending power.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Lower inflation rates, on the other hand, can lead to lower interest rates, which makes it harder for savers to earn high yields in their accounts. Overall, the Federal Reserve holds its long-term target rate for inflation at 2%.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You can’t control inflation, but you don’t have to let it erode your savings, either. Be smart about where you put your money, keep an eye on your expenses and you can reach your savings goals without missing a beat.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.nerdwallet.com/article/banking/how-to-stop-inflation-from-sinking-your-savings-goals\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Shore Up Your Savings Against Inflation?','','inherit','closed','closed','','2224-revision-v1','','','2022-04-26 14:40:26','2022-04-26 14:40:26','',2224,'http://smartinsurance.tips/?p=2401',0,'revision','',0),(2402,1,'2022-04-26 14:43:36','2022-04-26 14:43:36','','Home-improvement','','inherit','open','closed','','home-improvement-2','','','2022-04-26 14:43:36','2022-04-26 14:43:36','',2227,'http://smartinsurance.tips/wp-content/uploads/2022/04/Home-improvement.png',0,'attachment','image/png',0),(2403,1,'2022-04-26 14:43:50','2022-04-26 14:43:50','<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">When planning a house remodel, it can be tempting to skip to the exciting stage of choosing new paint colors, fixtures and fittings, but in order for any renovation to go smoothly, there are several things to think about before you even begin.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":2402,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Home-improvement-1024x536.png\" alt=\"\" class=\"wp-image-2402\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Know Your End Goal</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Before you decide&nbsp;how extensively to renovate, you need to know what your end goal is for your home. Are you renovating to raise the resale value of your home, or will you be staying put for years to come? Consider the condition of your neighborhood before you begin, and know which renovations are a good return on investment, and which will be considered overdoing it for the area. Having a specific plan in place for your future will help you decide how deep to go with your project.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Have a Budget</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Knowing your budget—and sticking to it—is one of the most important parts of renovation planning. Remember to add in a contingency fund for any unexpected costs—and expect to use it—as well as incidental costs like the cost of eating out for a kitchen reno, or even taking a hotel for a night or two.&nbsp;It can be easy to want a top-of-the-line renovation, but perhaps all you need are some&nbsp;cheap upgrades which will make your house look more expensive. Do your research and plan your budget before ever lifting a hammer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Consult the Calendar</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you\'re hoping for a brand new home for a particular event or holiday, make sure you look at your end date and work your way backward. Be sure to pencil in a few weeks to a month at the end for wiggle-room in case there are delays on the way to avoid disappointment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Do Your Research</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Take the time to chat with friends, family, and neighbors about the renovation work they have done, and the challenges they have faced during the process. Having a wealth of information from homeowners who have been in your shoes can be invaluable in the planning process, and this information may alter your end plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Know Your Limits</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">DIY renos are a great way to save money, have a sense of accomplishment, and involve the entire family, but they can turn disastrous if you don\'t know what you\'re doing. Know which tasks you can safely tackle, and which should be handled like the pros,&nbsp;like a potentially load-bearing wall, asbestos or lead paint.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Ask for References</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Any good contractor will have no problem providing references, and copies of liability insurance before a job begins. Don\'t rely solely on client testimonials, search out actual customers that can give you a firsthand account and answer any questions you may have. For any project, ask to see before and after images of a contractor\'s prior work, and most importantly—trust your gut and&nbsp;know which questions to ask.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Pack Up</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">To make any house remodel as simple as possible, declutter, pack up or move any items in the renovation zone. For a whole-home remodel, consider renting an offsite locker or onsite storage pod to keep all your belongings secure and clean during the process.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Consider Your Routine</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you\'re an experienced DIYer, you are likely good at working around the disruptions of a house remodel. However, if you\'ve hired a contractor for any part of the job, be sure to be clear about your daily routine, and work with the contractor to come up with start and end times that cause the least disruption in your family\'s day. After all, no one wants to encounter tradespeople while you\'re still in your bathrobe.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Establish Mission Control</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">There\'s nothing more frustrating than being in the middle of a job when you&nbsp;can\'t find the tool you need. Before you begin your remodel, reserve an area of your home to act as mission control to keep all your tools, materials, manuals and checklists in one place.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Protect the Kids</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A house remodel is a perfect way to&nbsp;get the kids involved in DIY, but for very little ones it can be dangerous too. Be sure to install child safety gates, electrical safety covers and store sharp tools well out of the way of curious tots, especially on off-hours where there may not be adequate supervision in the remodel zone.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Don\'t Forget the Pets</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The temporary chaos of a home under renovation can be stressful at the best of times for the human occupants of the house, let alone the four-legged family members. When doing a house remodel, consider the&nbsp;safety and care of your pets, which could mean having a family member or friend pet-sit while the bulk of the work is getting done. This is especially true when the doors will often be open to bring tools and materials in and out.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Plan For Outages</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If your home is lacking&nbsp;plumbing shut-off valves&nbsp;in the area you are working on, you may have to shut the water off at the main valve, leaving your home without access to running water. Plan ahead and place containers of water in the fridge for drinking, on the counter for cooking and have buckets of water available to flush the toilet. An easy way to do this is to fill the bathtub with water and place a bucket nearby to pour into the toilet bowl.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Make a Master List</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">To have the best chance of success, and to help in the budgeting process, make a master checklist of items you need, from administrative tasks like permits, right down to rollers for the paint. It\'s helpful to separate the list by items you have, and items you need to purchase. In the case of tools, making a list can help you decide which tools you can rent to save on costs versus purchasing new.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Create Drawings</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You don\'t have to be an engineer to create job drawings, and chances are you\'ll require some form of drawing to obtain a permit for your house remodel. Be sure to note square footage, heights and widths of doors and windows, and current locations for any services like electrical, gas or water.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Obtain Permits</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Many homeowners consider obtaining a building permit as an unnecessary headache which can slow down the renovation process, but permits are a necessary part of the process in most cases, which can come back to haunt you if not obtained in the first place. Building permits are necessary to ensure your house remodel meets structural and fire safety requirements and code inspectors in most jurisdictions can make you rip out non-conforming work if not up to snuff. This can create a very expensive headache when looking to sell your home down the road. It\'s always advisable to think ahead and ensure the permit process is followed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Plan a Reno-Free Zone</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Before starting all the mess of a remodel, it\'s a good plan to designate a renovation-free zone for your family to gather in semi-relaxation. Make sure you have everything you need in one place, such as a kettle or microwave, so you have one functional space to gather, eat or just unwind at the end of the day.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Schedule Cleanup</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">After a long day of renovating, it can be tempting to just turn the light off and leave the mess for tomorrow. Unfortunately, this can cause delays, lost tools and lost sanity along the way. Be sure to write in an ample amount of time in your renovation plan to tidy up at the end of the day. Your future self will thank you!&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Plan Ahead</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Even in a cosmetic remodel, there can be an opportunity to enhance the function or money-saving capability of your home. When ripping out an entire room, for instance, this may be the perfect time to&nbsp;add insulation to the walls, upgrade your electrical panel or add additional light or electrical fixtures. The key is to think ahead to how you will use the room, and take advantage of cosmetic updates to enhance the structure of your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Book the Help</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you know a renovation is on the horizon, it\'s time to call in favors from those handy family and friends. Give them ample time to arrange their schedule to help and provide plenty of reminders as the project approaches. (An offer of free food also helps!) If hiring a contractor, make sure you allow enough lead time to snag your desired timeline, otherwise you could be stuck waiting on them. Consider a&nbsp;message center&nbsp;to keep everyone informed as they come and go to make life easier on everyone.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Check the Weather</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Even if you\'re planning a spring or summer remodel, don\'t bank on having gorgeous weather to do it. Be sure to check the long and short-term forecasts before beginning a job, and schedule jobs that require outside access, like spray painting or wood cutting on days that have the best outlook. Consider heat and cold on days you may have to cut power to your furnace or air conditioner for comfortable working conditions and be sure to stay alert to unexpected changes in the weather. With these and other&nbsp;affordable home improvement tips, you\'ll be on your way to a successful house remodel in no time!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.familyhandyman.com/list/20-tips-for-planning-a-successful-house-remodel/\">click here.</a></p>\n<!-- /wp:paragraph -->','20 Tips for Planning a Successful House Remodel','','inherit','closed','closed','','2227-revision-v1','','','2022-04-26 14:43:50','2022-04-26 14:43:50','',2227,'http://smartinsurance.tips/?p=2403',0,'revision','',0),(2404,1,'2022-04-26 14:45:52','2022-04-26 14:45:52','','Small-Business','','inherit','open','closed','','small-business-3','','','2022-04-26 14:45:52','2022-04-26 14:45:52','',2230,'http://smartinsurance.tips/wp-content/uploads/2022/04/Small-Business.png',0,'attachment','image/png',0),(2405,1,'2022-04-26 14:45:58','2022-04-26 14:45:58','<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">To perfect your growth, emulate the successful strategies of industry giants.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":2404,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Small-Business-1024x536.png\" alt=\"\" class=\"wp-image-2404\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">When it comes to running a small business, you have to do much of the legwork yourself. For better or worse, you are the master of your fate, and the success of your organization lives and dies depending your ability to make strategic growth decisions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You may own a small business now, but planning for long-term growth means considering the possibility that you will not&nbsp;<em>always&nbsp;</em>be a small business. With the correct planning and execution, the entrepreneurial seed you plant today could grow into the multinational conglomerate of tomorrow.&nbsp;To plan for successful growth on that scale, it helps to look to the shoulders of other giants who began as small businesses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">One especially ubiquitous small-business-turned-next-generation superstar is Google. Combined with its parent company, Alphabet,&nbsp;Google is worth an estimated $1 trillion<a href=\"https://www.nytimes.com/2020/01/16/technology/google-trillion-dollar-market-cap.html\">.</a>&nbsp;The company is so influential that the term “Google” is now a verb in the dictionary.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you’re a small business owner looking to emulate the success of Google and other major growth-oriented companies, the following three tips will help your business replicate the Google playbook to achieve growth, attract investment and foster organizational success.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">1. Differentiate, differentiate, differentiate</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Before you can sail off into the sunset with a small business idea that will net you millions, you need an idea. But not&nbsp;just any idea. It would help if you had a business model that stands out from competitors for offering something others are not.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Think about Google. It’s certainly not the only search algorithm out there. Other big names in the industry include Bing, Yahoo!, Ecosia, Ask, and many others. At the same time, none of these companies do what Google does nearly as well. That’s because Google differentiates itself with a search algorithm that is constantly learning, evolving and growing. Its goal is simple: to provide users with the absolute best results instead of the most results.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Google’s playbook is about quality, not quantity. As such, they become rewarded for their attention to a market need that improves lives and solves problems for billions of people every single day.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Like Google, your product (and the very nature of your business) does not have to be entirely new. What’s important is that you develop an aspect of your business that&nbsp;<em>is&nbsp;</em>new. Instead of simply replicating previously successful businesses, create elements of a new model that will anticipate a market need that does not currently exist. If you can do this, you’ll be on the path toward steady growth in no time.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">2. Expand into new areas</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Google’s parent company, Alphabet, is spread across a variety of industries and owns some surprisingly big names: YouTube, the GPS app Waze, the exercising wearable textile brand Fitbit&nbsp;and more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The aforementioned is an integral part of any business playbook model. As an entrepreneur, it’s important not to put all of your eggs in one basket. If your small business revolves around a single product, business model or selling strategy, what will you do when the market need for that product, model or process stagnates?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Unfortunately, this is how many businesses fail. Startups that receive angel investment with hopes of turning their idea into a budding national company often flounder after spending all of their funds on a single, unattractive business model. Instead of relying on one vision or strategy, consider diversifying your business and solving a&nbsp;host&nbsp;of needs for your specific audience.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Google isn’t the only player that&nbsp;knows the value of expanding. Amazon began as a bookselling outlet, and Uber was not always a food-delivery service. Elon Musk started as the creator of PayPal — now his space exploration company has its sights set on Mars.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">When it comes to running a small business, no dream of expansion is too big. In truth, expanding when the time is right is quite possibly the best thing you can do for yourself&nbsp;and&nbsp;your business.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">3. Excel at your market niche</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Google knows that diversification and expansion are essential. Still, it never loses sight of its actual value as a business: providing top-notch search results for countless people every day.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The point of expansion and diversification is to safeguard yourself against the potential of an idea that does not pan out. However, once you’ve found an idea that&nbsp;<em>does&nbsp;</em>work and you connect with an audience that wants more of it, it’s essential to hone in your niche and become a top market player.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Becoming the best at what you do takes time, practice, investment and innovation. It’s probably the most rigid tip to replicate, and it’s not a “get rich quick” scheme. Simultaneously, if you pay attention to your craft, focus on building your business and create a business model that genuinely excels, you’ll set yourself up for positive growth in both the short and long term.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The biggest takeaway for entrepreneurs itching to replicate the growth strategies of Google is simple: Growth is all about learning. The more you study the growth patterns and systems of market giants like Google, the more prepared you will be when your business is ready for its next growth spurt. By differentiating your business model, expanding into new markets and excelling at the services and goods you provide, your business seed will grow wonderfully — and profitably.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.entrepreneur.com/article/370285\">click here.</a></p>\n<!-- /wp:paragraph -->','3 Growth Strategies Small Businesses Can Learn From Google','','inherit','closed','closed','','2230-revision-v1','','','2022-04-26 14:45:58','2022-04-26 14:45:58','',2230,'http://smartinsurance.tips/?p=2405',0,'revision','',0),(2406,1,'2022-04-26 14:47:34','2022-04-26 14:47:34','','Privacy','','inherit','open','closed','','privacy-2','','','2022-04-26 14:47:34','2022-04-26 14:47:34','',2233,'http://smartinsurance.tips/wp-content/uploads/2022/04/Privacy.png',0,'attachment','image/png',0),(2408,1,'2022-04-26 14:49:59','2022-04-26 14:49:59','','Leadership','','inherit','open','closed','','leadership','','','2022-04-26 14:49:59','2022-04-26 14:49:59','',2235,'http://smartinsurance.tips/wp-content/uploads/2022/04/Leadership.png',0,'attachment','image/png',0),(2410,1,'2022-04-26 14:51:02','2022-04-26 14:51:02','','Health','','inherit','open','closed','','health-2','','','2022-04-26 14:51:02','2022-04-26 14:51:02','',2238,'http://smartinsurance.tips/wp-content/uploads/2022/04/Health.png',0,'attachment','image/png',0),(2411,1,'2022-04-26 14:51:12','2022-04-26 14:51:12','<!-- wp:image {\"id\":2410,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Health-1024x536.png\" alt=\"\" class=\"wp-image-2410\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">There’s more to staying heart-healthy than just eating right and exercising regularly, namely getting enough shuteye.&nbsp;<br><br>Indeed, sleep plays an important role in overall health and well-being. By the same token, healthy diet, regular exercise&nbsp; and low stress may promote the sort of deep, restorative sleep that is essential for good cardiovascular health.<br><br>How much sleep do you need? The Centers for Disease Control and Prevention in Atlanta advises adults between 18 and 65 to aim for at least seven hours of good quality sleep per night.&nbsp;&nbsp;<br><br>Unfortunately, sleeping well is not the necessarily the norm. In fact, according to the National Heart, Lung, and Blood Institute of the National Institutes of Health, 50 million to 70 million American adults either don’t get any sleep on a regular basis or have a sleeping disorder.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How does sleep affect heart health?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Studies show short sleep duration or poor sleep quality, is associated with&nbsp;high blood pressure, elevated&nbsp;cholesterol&nbsp;and&nbsp;atherosclerosis. And habitual short sleep increases the chance of cardiovascular events.&nbsp;&nbsp;<br><br>Not getting enough restful sleep is also correlated with:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Poor diet / weight gain</strong><br>A study of 495 participants found an association between poor sleep quality, increased food intake and lower consumption of whole grains. And short sleep duration may lead to weight gain, even in those with a low risk for obesity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Diabetes&nbsp;<br></strong>An analysis of past studies suggests not getting enough Z’s significantly increases the risk of developing Type 2&nbsp;diabetes. In addition, losing as little as two hours of sleep per day may lead to increased insulin resistance and decreased glucose tolerance in lab conditions.<br><br>High blood sugar associated with diabetes can also increase cholesterol, blood pressure and triglycerides, ultimately damaging the nerves and blood vessels. As a result, people with Type 2 diabetes are twice as likely to have a&nbsp;heart attack&nbsp;or&nbsp;stroke.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Inflammation<br></strong>In lab studies, sleep restriction is associated with&nbsp;inflammation, and preliminary research suggests this may be true in the general population. This is important because inflammatory processes can elevate risk for cardiovascular disease.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Stroke, heart attack and death<br></strong>Researchers report a modest link between both short and long sleep duration, or nine hours or more at a time, and stroke. Short and long duration sleep are also associated with a greater risk of death.&nbsp; &nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">The link between sleeping disorders and heart disease</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Perhaps unsurprisingly, a growing body of research demonstrates a correlation between many sleeping disorders and cardiovascular health.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>People with common sleeping disorders such as obstructive&nbsp;sleep apnea&nbsp;or insomnia also are far more likely to have heart&nbsp;arrhythmias, plaque buildup,&nbsp;heart failure&nbsp;and&nbsp;coronary artery disease&nbsp;than the general public.</li><li>Evidence is mounting that neurological sleep disorders such as restless leg syndrome, which affects 7% to 10% of Americans, may increase the risk of heart disease, although more research is needed to better understand the connection.</li><li>In most people, blood pressure dips during sleep. However, that doesn’t always happen in people with Type 1 narcolepsy. Although more research is needed in this area, some suggest that this may increase the risk for heart problems.&nbsp; &nbsp;</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">The role of mental health</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">There’s a similar both-ways relationship between sleep and mental health: People with psychological disorders are more likely to develop sleep problems than those in the general population, and sleep problems may also increase the risk of developing certain mental illnesses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">This may affect heart health. Many studies have shown both daily stressors and traumatic stressful events increase the risk of cardiovascular disease. Loneliness, workplace stress, anger and hostility, anxiety, depression and even pessimism likewise impact overall health, increasing the risk to heart health.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Optimism, on the other hand, is associated with healthier living, including better sleep quality and a lower risk of cardiovascular disease and death from all causes.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In a recent scientific statement, the American Heart Association acknowledged the growing body of evidence pointing to the strong link between mental health, behaviors and physical health, noting data that suggest treating mental health can improve heart health.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What’s the takeaway?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">There’s a strong connection between mental health, sleep and overall physical health, specifically cardiovascular health.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Lifestyle factors such as diet and exercise may reduce the risk of heart disease, both directly and indirectly, by fostering better sleep. This, in turn, may lead to a better outlook and more energy – the very best kind of feedback loop.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What should I do if I have problems sleeping?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The CDC advises people to:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Go to bed and wake up at the same time every day, weekends included.</li><li>Sleep in a dark, quiet place set at a comfortable temperature.</li><li>Ban electronic devices from the bedroom. These can interfere with sleep.</li><li>Avoid caffeine, alcohol and large meals before hitting the pillow.</li><li>Exercise. Physical activity during the day makes it easier to fall asleep that night.&nbsp;</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Talk with your doctor or health care professional if you have symptoms of a sleep disorder or have tried such measures and still can’t get to sleep.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.heart.org/en/health-topics/sleep-disorders/sleep-and-heart-health\">click here.</a></p>\n<!-- /wp:paragraph -->','Sleep plays an important role in heart health','','inherit','closed','closed','','2238-revision-v1','','','2022-04-26 14:51:12','2022-04-26 14:51:12','',2238,'http://smartinsurance.tips/?p=2411',0,'revision','',0),(2412,1,'2022-04-26 14:53:18','2022-04-26 14:53:18','','Product-review-','','inherit','open','closed','','product-review-2','','','2022-04-26 14:53:18','2022-04-26 14:53:18','',2241,'http://smartinsurance.tips/wp-content/uploads/2022/04/Product-review-.png',0,'attachment','image/png',0),(2413,1,'2022-04-26 14:53:40','2022-04-26 14:53:40','<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Tips for the do-it-yourself car wash</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":2412,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Product-review--1024x536.png\" alt=\"\" class=\"wp-image-2412\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For many vehicle owners, washing a car by hand is a therapeutic act as beneficial for the person\'s state of mind as to the vehicle\'s appearance. That\'s good, because frequent washing is also the best way to maintain a new-car finish and detect blemishes and other potential issues, such as rust or loosening trim. But as simple as washing your car may seem, there are some things to watch for so that you don\'t accidentally scratch or degrade the finish.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Below are some basic car-washing tips. And if you prefer to use an automated, drive-thru car wash, be sure to learn&nbsp;which extras are worth the money.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What Kind of Products Should You Use?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Don\'t use household cleaning agents</strong>&nbsp;like hand soap, dishwashing detergent, or glass cleaner on the paint. These aren\'t formulated for use on a car\'s paint and may strip off the protective wax.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Do use a dedicated car-wash product</strong>, which is milder and specifically designed for use on automotive paint. Apply the suds with a large, soft natural sponge or a lamb\'s-wool mitt.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Grease, rubber, and road-tar deposits picked up from the road often accumulate around the wheel wells and along the lower edge of the body. These can be stubborn to remove and may require a stronger product, such as a bug-and-tar remover. Use a soft, nonabrasive cloth to remove these deposits, as they can quickly blacken your sponge.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Do use a separate sponge to clean the wheels and tires,</strong>&nbsp;which may be coated with sand, brake dust, and other debris that could mar the car\'s finish. Mild soap and water may work here; if not, a dedicated wheel cleaner may be required. Be sure the cleaner is compatible with the type of finish (paint, clear-coat, chrome, etc.) used on the wheels. A strong formula intended for mag wheels, for instance, can damage the clear coat that\'s used on the wheels that come on today\'s cars. To be on the safe side, choose a cleaner that\'s labeled as safe for use on all wheels.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Don\'t use a tire dressing product.&nbsp;</strong>These are often marketed as adding a shine to the tires. Many products claim to clean the sidewall, removing harsh dirt and oils that might degrade the rubber over time. And some products claim to act like a blocker or sunscreen for your tires, reducing the harmful aging effects of UV light and ozone that make rubber hard and brittle, leading to cracking. However, tire makers we spoke with say aftermarket products are not needed to preserve tires and that the shine is merely cosmetic. Bridgestone said their tires have antioxidants and waxes in the tire to protect them from the environment. A dull appearance may occur over time, but this is just the waxes migrating to the surface and actually helps protect the tire. Simple soap and water is all you need for the tires.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Do treat your car to a seasonal waxing</strong>&nbsp;to help protect it from the elements and give it a like-new shine.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Are There Any General Guidelines You Should Follow When Washing a Car?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Don\'t wash your car when the body is hot,</strong>&nbsp;such as immediately after driving it or after it has been parked in direct sunlight for awhile. Heat speeds the drying of soap and water, making washing more difficult and increasing the chances that spots or deposits will form.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Don\'t move the sponge in circles.&nbsp;</strong>This can create light, but noticeable scratches called swirl marks. Instead, move the sponge lengthwise across the hood and other body panels. And don\'t continue using a sponge that\'s dropped on the ground without thoroughly rinsing it out. The sponge can pick up dirt particles that can scratch the paint.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Do rinse all surfaces thoroughly with water</strong>&nbsp;before you begin washing to remove loose dirt and debris that could cause scratching. Once you begin, concentrate on one section at a time, washing and rinsing each area completely before moving on to the next one. This ensures that you have plenty of time to rinse before the soap dries. Start at the top, and then work your way around the car. Use a hose without a nozzle and let the water flow over the car from top to bottom. This creates a sheeting action that helps minimize pooling of water.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Do work the car-wash solution into a lather</strong>&nbsp;with plenty of suds that provide lots of lubrication on the paint surface. And rinse the sponge often. Using a separate bucket to rinse the sponge keeps dirt from getting mixed into the sudsy wash water.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How Should You Dry the Car When You\'re Done?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Don\'t let the car air dry,&nbsp;</strong>and don\'t expect a drive around the block to do an effective job. Either will leave watermarks caused by minerals in hard water. In addition, don\'t use an abrasive towel or other material that can leave hairline scratches in the paint.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Do use a chamois (natural or synthetic) or soft terry towels.</strong>&nbsp;If you choose towels, you may need several. It\'s best to blot the water up instead of dragging the towel or chamois over the paint. The drying process can be speeded up by using a soft squeegee to remove most of the water on the body, but be sure the rubber is pliable and that it doesn\'t pick up bits of dirt that can cause scratches.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Car Cleaning Tips</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Is the inside of your car starting to resemble a garbage can? On the \"Consumer 101\" TV show, Consumer Reports expert Jen Stockburger offers tips to host Jack Rico on how to make a vehicle’s interior look new again.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.familyhandyman.com/list/20-tips-for-planning-a-successful-house-remodel/\">cli</a><a href=\"https://www.consumerreports.org/car-repair-maintenance/how-to-wash-your-car-a5065989586/\">ck here.</a></p>\n<!-- /wp:paragraph -->','How to Wash Your Car?','','inherit','closed','closed','','2241-autosave-v1','','','2022-04-26 14:53:40','2022-04-26 14:53:40','',2241,'http://smartinsurance.tips/?p=2413',0,'revision','',0),(2414,1,'2022-04-26 14:54:16','2022-04-26 14:54:16','<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Tips for the do-it-yourself car wash</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":2412,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Product-review--1024x536.png\" alt=\"\" class=\"wp-image-2412\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For many vehicle owners, washing a car by hand is a therapeutic act as beneficial for the person\'s state of mind as to the vehicle\'s appearance. That\'s good, because frequent washing is also the best way to maintain a new-car finish and detect blemishes and other potential issues, such as rust or loosening trim. But as simple as washing your car may seem, there are some things to watch for so that you don\'t accidentally scratch or degrade the finish.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Below are some basic car-washing tips. And if you prefer to use an automated, drive-thru car wash, be sure to learn&nbsp;which extras are worth the money.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What Kind of Products Should You Use?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Don\'t use household cleaning agents</strong>&nbsp;like hand soap, dishwashing detergent, or glass cleaner on the paint. These aren\'t formulated for use on a car\'s paint and may strip off the protective wax.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Do use a dedicated car-wash product</strong>, which is milder and specifically designed for use on automotive paint. Apply the suds with a large, soft natural sponge or a lamb\'s-wool mitt.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Grease, rubber, and road-tar deposits picked up from the road often accumulate around the wheel wells and along the lower edge of the body. These can be stubborn to remove and may require a stronger product, such as a bug-and-tar remover. Use a soft, nonabrasive cloth to remove these deposits, as they can quickly blacken your sponge.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Do use a separate sponge to clean the wheels and tires,</strong>&nbsp;which may be coated with sand, brake dust, and other debris that could mar the car\'s finish. Mild soap and water may work here; if not, a dedicated wheel cleaner may be required. Be sure the cleaner is compatible with the type of finish (paint, clear-coat, chrome, etc.) used on the wheels. A strong formula intended for mag wheels, for instance, can damage the clear coat that\'s used on the wheels that come on today\'s cars. To be on the safe side, choose a cleaner that\'s labeled as safe for use on all wheels.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Don\'t use a tire dressing product.&nbsp;</strong>These are often marketed as adding a shine to the tires. Many products claim to clean the sidewall, removing harsh dirt and oils that might degrade the rubber over time. And some products claim to act like a blocker or sunscreen for your tires, reducing the harmful aging effects of UV light and ozone that make rubber hard and brittle, leading to cracking. However, tire makers we spoke with say aftermarket products are not needed to preserve tires and that the shine is merely cosmetic. Bridgestone said their tires have antioxidants and waxes in the tire to protect them from the environment. A dull appearance may occur over time, but this is just the waxes migrating to the surface and actually helps protect the tire. Simple soap and water is all you need for the tires.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Do treat your car to a seasonal waxing</strong>&nbsp;to help protect it from the elements and give it a like-new shine.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Are There Any General Guidelines You Should Follow When Washing a Car?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Don\'t wash your car when the body is hot,</strong>&nbsp;such as immediately after driving it or after it has been parked in direct sunlight for awhile. Heat speeds the drying of soap and water, making washing more difficult and increasing the chances that spots or deposits will form.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Don\'t move the sponge in circles.&nbsp;</strong>This can create light, but noticeable scratches called swirl marks. Instead, move the sponge lengthwise across the hood and other body panels. And don\'t continue using a sponge that\'s dropped on the ground without thoroughly rinsing it out. The sponge can pick up dirt particles that can scratch the paint.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Do rinse all surfaces thoroughly with water</strong>&nbsp;before you begin washing to remove loose dirt and debris that could cause scratching. Once you begin, concentrate on one section at a time, washing and rinsing each area completely before moving on to the next one. This ensures that you have plenty of time to rinse before the soap dries. Start at the top, and then work your way around the car. Use a hose without a nozzle and let the water flow over the car from top to bottom. This creates a sheeting action that helps minimize pooling of water.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Do work the car-wash solution into a lather</strong>&nbsp;with plenty of suds that provide lots of lubrication on the paint surface. And rinse the sponge often. Using a separate bucket to rinse the sponge keeps dirt from getting mixed into the sudsy wash water.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How Should You Dry the Car When You\'re Done?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Don\'t let the car air dry,&nbsp;</strong>and don\'t expect a drive around the block to do an effective job. Either will leave watermarks caused by minerals in hard water. In addition, don\'t use an abrasive towel or other material that can leave hairline scratches in the paint.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Do use a chamois (natural or synthetic) or soft terry towels.</strong>&nbsp;If you choose towels, you may need several. It\'s best to blot the water up instead of dragging the towel or chamois over the paint. The drying process can be speeded up by using a soft squeegee to remove most of the water on the body, but be sure the rubber is pliable and that it doesn\'t pick up bits of dirt that can cause scratches.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Car Cleaning Tips</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Is the inside of your car starting to resemble a garbage can? On the \"Consumer 101\" TV show, Consumer Reports expert Jen Stockburger offers tips to host Jack Rico on how to make a vehicle’s interior look new again.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.familyhandyman.com/list/20-tips-for-planning-a-successful-house-remodel/\">cli</a><a href=\"https://www.consumerreports.org/car-repair-maintenance/how-to-wash-your-car-a5065989586/\">ck here.</a></p>\n<!-- /wp:paragraph -->','How to Wash Your Car?','','inherit','closed','closed','','2241-revision-v1','','','2022-04-26 14:54:16','2022-04-26 14:54:16','',2241,'http://smartinsurance.tips/?p=2414',0,'revision','',0),(2415,1,'2022-04-26 14:56:14','2022-04-26 14:56:14','','PC-insurance-1','','inherit','open','closed','','pc-insurance-1-2','','','2022-04-26 14:56:14','2022-04-26 14:56:14','',2245,'http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-1.png',0,'attachment','image/png',0),(2416,1,'2022-04-26 14:56:37','2022-04-26 14:56:37','<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Prepaid Insurance Explained</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":2415,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-1-1024x536.png\" alt=\"\" class=\"wp-image-2415\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Prepaid insurance requires you to pay your premium before receiving the financial benefits of the policy. Insurers commonly offer prepayment for many types of insurance, including auto and homeowners insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Insurance companies often offer incentives to customers who prepay their premiums, but this type of plan requires making a large lump-sum payment. Learn how prepaid insurance works, and about its advantages and disadvantages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Key Takeaways</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>When you prepay your insurance premium, you pay for your policy in full in advance, and receive the coverage over a specified period following the payment.</li><li>Prepaying and monthly installments are the more common ways to pay an insurance premium.</li><li>Prepaying your insurance premium may qualify you for a reduced rate or a discount.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-8\">What Is Prepaid Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-10\">Prepaid insurance is coverage you pay for in full before you receive its benefits. For example, if you take out a mortgage to buy a new home, the lender may require you to pay a one-year homeowners&nbsp;premium&nbsp;at closing. When the policy goes into effect, you’ll then get the benefits of the coverage over a 12-month period.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-12\">How Prepaid Insurance Works?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-14\">In accounting, prepaid insurance is a type of prepaid expense. Other types of prepaid expenses can include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-17\" class=\"has-black-color has-text-color has-medium-font-size\"><li>License renewals</li><li>Maintenance contracts</li><li>Protection plans</li><li>Subscriptions</li><li>Warranties</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-20\">You must pay prepaid expenses upfront before you receive any type of benefit. For example, you might buy a one-year magazine subscription and receive one magazine per month for 12 months.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Important: Prepaid insurance works similarly to many products or services you pay for fully in advance. If you pay a six-month premium for a&nbsp;car insurance&nbsp;policy, the coverage will protect your automobile from the effective date until it’s time to renew the policy</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-25\">Prepaid Expense Accounting</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-27\">Prepaid insurance is a future expense, which you must pay upfront and receive its benefits over time. Prepaid insurance is an expenditure. However, once you make the premium payment, the policy’s coverage becomes an asset, which diminishes over time during the coverage period.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-30\">If you keep a ledger, enter the prepaid insurance payment as both a debit and credit. Let’s say you purchase a one-year home insurance policy for $1,200. Here’s how you will account for the expenditure and asset.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:table -->\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Date</strong></td><td><strong>Account</strong></td><td><strong>Debit</strong></td><td><strong>Credit</strong></td></tr><tr><td>1/1</td><td>Homeowners policy</td><td>$1,200</td><td>&nbsp;</td></tr><tr><td>1/1</td><td>Prepaid insurance</td><td>&nbsp;</td><td>$1,200</td></tr></tbody></table></figure>\n<!-- /wp:table -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-36\">Throughout the home insurance policy’s term, you will reduce the value of the asset. For example, the $1,200 prepaid policy will reduce in value by $100 each month, which you adjust in your ledger.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:table -->\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Date</strong></td><td><strong>Account</strong></td><td><strong>Debit</strong></td><td><strong>Credit</strong></td></tr><tr><td>2/1</td><td>Prepaid insurance</td><td>&nbsp;</td><td>$1,100</td></tr><tr><td>3/1</td><td>Prepaid insurance</td><td></td><td>$1,000</td></tr><tr><td>4/1</td><td>Prepaid insurance</td><td></td><td>$900</td></tr></tbody></table></figure>\n<!-- /wp:table -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-41\">Pros and Cons of Prepaid Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-43\">Like all financial products, prepaid insurance has both advantages and disadvantages to consider.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Pros</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Discounted premiums</li><li>No monthly payment</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Cons</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Lump-sum payment</li><li>Cancelation hassles</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-49\">Pros Explained</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-51\" class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Lower premiums</strong>: Many insures give you the option to make monthly payments for auto and home insurance policies. However, some providers offer a lower rate for paying premiums in full. If you can afford to make a lump-sum payment for a six- or 12-month policy, you could qualify for discounts and/or pay fewer fees, depending on the&nbsp;carrier. Some providers also offer a discount for paying your premium in two payments rather than monthly installments.</li><li><strong>No monthly payments</strong>: Another advantage to making one lump-sum payment is that you will not have to worry about making regular monthly payments. You can plan your monthly budget without the additional expense once you’ve prepaid.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-54\">Cons Explained</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-56\" class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Lump-sum payment</strong>: Prepaying an entire premium requires making a large lump-sum payment, which may be difficult for some people, depending on their cash flow. For example, some homeowners may have difficulty paying a $1,500 annual&nbsp;home insurance&nbsp;premium in a single payment. However, many providers offer monthly installment payment plans for car and homeowners insurance.</li><li><strong>Cancellation hassles</strong>: Paying monthly premium installments can make the cancellation process easier. For instance, if you decide to switch to a new carrier, you can time the change according to your billing cycle.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-59\">Prepaying your insurance premium might complicate the cancellation process. For example, if you pay your $1,500 annual home insurance premium in one payment, then sell your house six months into the policy’s term, the insurer will have to refund the unused premium. Although providers do issue prorated refunds, you may have to wait days or weeks to receive the money.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-62\">When canceling an insurance policy, you may incur&nbsp;a cancellation fee.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-64\">Alternatives to Prepaid Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-66\">While prepayment and monthly billing are standard ways to pay an insurance premium, some auto insurance companies offer pay-per-mile policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Note: Pay-per-mile car insurance policies vary by provider. Some charge a daily rate plus a mileage rate. For instance, you might pay $1.50 each day you drive plus $0.06 per mile.&nbsp;Other insurers charge a monthly insurance fee plus mileage. For example, you may pay a monthly fee of $30 plus $0.06 per mile.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Since your mileage varies from month to month, pay-per-mile programs do not offer a prepay option, only monthly billing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Tip: Pay-per-mile car insurance policies are designed to benefit customers who maintain low annual mileage, such as people who work from home, are stay-at-home parents, or are retirees.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-75\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-77\">Prepaid insurance is when you make one or two large payments in advance and receive the benefits of coverage throughout the policy’s term. It is a simple way to pay for coverage, but requires making a large payment rather than more-affordable monthly installments.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-80\">Prepaid insurance is attractive to some policyholders who can afford it because it often offers incentives such as premium discounts. Keep in mind it might take you a bit longer to cancel a policy that was prepaid.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.thebalance.com/what-is-prepaid-insurance-5219084\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is Prepaid Insurance?','','inherit','closed','closed','','2245-revision-v1','','','2022-04-26 14:56:37','2022-04-26 14:56:37','',2245,'http://smartinsurance.tips/?p=2416',0,'revision','',0),(2417,1,'2022-04-26 14:57:41','2022-04-26 14:57:41','','PC-insurance-3','','inherit','open','closed','','pc-insurance-3-2','','','2022-04-26 14:57:41','2022-04-26 14:57:41','',2248,'http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-3.png',0,'attachment','image/png',0),(2418,1,'2022-04-26 14:57:53','2022-04-26 14:57:53','<!-- wp:image {\"id\":2417,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-3-1024x536.png\" alt=\"\" class=\"wp-image-2417\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0\">You’re driving home from work, and a deer dashes across the road. Swerving to avoid it, you hop the curb and smash&nbsp;through the neighbor’s&nbsp;fence. Who pays to fix it?&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-2\">If you’re insured, your insurance company covers the cost, minus your deductible. This is the role of property damage liability insurance—coverage for damage you cause to another person’s property. Liability coverage is the most basic form of car insurance, and all states—except New Hampshire—require it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block-callout-heading_1-0\"><strong>KEY TAKEAWAYS</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Most states require car owners to buy property damage liability insurance.</li><li>This&nbsp;coverage pays for damage to someone else’s property, such as a fence, a lamppost, or another driver’s car.</li><li>It doesn’t cover damage to your own vehicle.</li><li>Minimum liability requirements vary by state.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-6\">How Does Property Damage Liability Insurance Work?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-7\">Property damage liability insurance usually makes up just one part of your&nbsp;car insurance&nbsp;policy. Car insurance policies typically contain the following coverage types:&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-9\" class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Bodily Injury Liability:&nbsp;</strong>If you or a covered family member cause injuries to someone else, bodily injury liability coverage helps to pay their medical bills and lost wages.&nbsp;</li><li><strong>Medical Payments or Personal Injury Protection (PIP):</strong>&nbsp;If you’re in an accident and you or a passenger are injured, medical payments coverage or PIP will pay for your medical payments, lost wages, and even funeral costs.&nbsp;</li><li><strong>Collision:&nbsp;</strong>Collision insurance pays for repairs or replacement costs for the policyholder’s vehicle after an accident.&nbsp;&nbsp;</li><li><strong>Comprehensive:</strong>&nbsp;Comprehensive coverage reimburses policyholders for losses from theft or weather damage.&nbsp;</li><li><strong>Uninsured/Underinsured Motorist Coverage:&nbsp;</strong>If you’re in an accident with a person who either doesn’t have insurance or doesn’t have enough insurance to cover your damages, uninsured/underinsured motorist coverage will pay for your car repairs and other expenses.&nbsp;</li><li><strong>Property Damage Liability:&nbsp;</strong>Property damage liability insurance covers repairs to another person’s car or property, such as a fence or building, when you are at fault in an accident. It also will pay for the removal of debris, such as a damaged tree or signs, that occurs after an accident.&nbsp;&nbsp;</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-11\">Liability coverage is typically written with three numbers, such as $50,000/$100,000/$50,000. The first number reflects your bodily injury coverage, the second number is your bodily injury coverage per incident limit, and the third number is the property damage liability portion.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-13\">Property damage liability doesn’t cover repairs for your own vehicle or your medical expenses, so you’ll need additional coverage to protect yourself, such as collision and comprehensive insurance.&nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-15\">How Much Property Damage Liability Insurance Is Required?&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-16\">How much property damage liability insurance you’re required to have depends on what state you live in. Below are the minimum requirements for each state and Washington, D.C.:&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ol id=\"mntl-sc-block_1-0-18\" class=\"has-black-color has-text-color has-medium-font-size\"><li>Alabama: $25,000</li><li>Alaska: $25,000</li><li>Arizona: $10,000</li><li>Arkansas: $25,000</li><li>California: $5,000</li><li>Colorado: $15,000</li><li>Connecticut: $20,000</li><li>Delaware: $10,000</li><li>District of Columbia: $10,000</li><li>Florida: $10,000</li><li>Georgia: $25,000</li><li>Hawaii: $10,000</li><li>Idaho: $15,000</li><li>Illinois: $20,000</li><li>Indiana: $25,000</li><li>Iowa: $15,000</li><li>Kansas: $25,000</li><li>Kentucky: $25,000</li><li>Louisiana: $25,000</li><li>Maine: $25,000</li><li>Maryland: $15,000</li><li>Massachusetts: $5,000</li><li>Michigan: $10,000</li><li>Minnesota: $10,000</li><li>Mississippi: $25,000</li><li>Missouri: $25,000</li><li>Montana: $20,000</li><li>Nebraska: $25,000</li><li>Nevada: $20,000</li><li>New Hampshire: $25,000</li><li>New Jersey: $5,000</li><li>New Mexico: $10,000</li><li>New York: $10,000</li><li>North Carolina: $25,000</li><li>North Dakota: $25,000</li><li>Ohio: $25,000</li><li>Oklahoma: $25,000</li><li>Oregon: $20,000</li><li>Pennsylvania: $5,000</li><li>Rhode Island: $25,000</li><li>South Carolina: $25,000</li><li>South Dakota: $25,000</li><li>Tennessee: $15,000</li><li>Texas: $25,000</li><li>Utah: $15,000</li><li>Vermont: $10,000</li><li>Virginia: $20,000</li><li>Washington: $10,000</li><li>West Virginia: $25,000</li><li>Wisconsin: $10,000</li><li>Wyoming: $20,000</li></ol>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-20\">How Much Does Property Damage Liability Coverage Cost?&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-21\">Since property damage liability coverage is required by law in most states, you’ll need to purchase coverage from an insurance company.&nbsp;How much your car insurance policy will cost&nbsp;is dependent on your location, vehicle, driving record, age, gender, insurance options, and coverage amounts.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-23\">Most drivers find liability-only policies insufficient. To give themselves more protection, 78% of insured drivers add collision coverage, according to the Insurance Information Institute.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-25\">Buying Car Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-26\">All cars require insurance. At a very least, owners should buy a policy that meets state-minimum bodily injury and property damage liability insurance requirements. For the best rates, shop for quotes from multiple car insurance companies.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.investopedia.com/what-is-property-damage-liability-insurance-5184803\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is Property Damage Liability Insurance?','','inherit','closed','closed','','2248-revision-v1','','','2022-04-26 14:57:53','2022-04-26 14:57:53','',2248,'http://smartinsurance.tips/?p=2418',0,'revision','',0),(2419,1,'2022-04-26 14:58:51','2022-04-26 14:58:51','','PC-insurance-4','','inherit','open','closed','','pc-insurance-4-2','','','2022-04-26 14:58:51','2022-04-26 14:58:51','',2251,'http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-4.png',0,'attachment','image/png',0),(2420,1,'2022-04-26 14:58:54','2022-04-26 14:58:54','<!-- wp:image {\"id\":2419,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-4-1024x536.png\" alt=\"\" class=\"wp-image-2419\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Buying life insurance sounds like a complicated decision, but most people can start shopping by making a simple comparison: term life vs. whole life insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Term life insurance is simple and offers coverage for a specified time period. Whole life insurance is more complex and offers coverage until death.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Money expert Clark Howard&nbsp;likes term life for most everyone. In this article, I’ll explain how term life and whole life insurance are different, I’ll compare the costs and I’ll give you the information to help you decide what’s right for your financial situation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>What Is Term Life Insurance?</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Term life insurance provides coverage for a specific period — usually 10, 20 or 30 years. Your beneficiary will receive a “death benefit,” or payout, from your insurance policy if you die during that term.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Sometimes called “pure” life insurance, term life insurance holds zero value unless you die. It’s&nbsp;<em>only</em>&nbsp;life insurance. It does not include any sort of investment component.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Term life insurance premiums, which is what insurance companies call your monthly payments, are much cheaper than premiums for whole life insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">When you buy term life insurance, your biggest decisions are how long of a term to purchase and the amount the policy would pay out. Keep in mind that life insurance is designed to replace your expected income and protect your family if you die prematurely.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">There are a lot of questionnaires and calculators to help you decide. But the bottom line is that you want to pick a term and an amount that will make sure that your spouse, children or other dependents remain financially secure if you die.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>What Is Whole Life Insurance?</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Whole life insurance offers you coverage for life. It’s permanent.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Your beneficiary will receive a payout when, not if, you die. Keep in mind you must pay the fixed-price monthly premium as long as you live.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Like term life insurance, you and your insurance company will need to agree on the amount your beneficiary will receive when you die.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The premiums are much more expensive than those for term life insurance. That’s because whole life insurance includes an investment component known as cash value.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>Explaining How Cash Value Works</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The details of each whole life insurance policy’s cash value differ. But generally speaking, they’re laced with fees and provide a low return on investment. Even worse, when you die, your family gets only the death benefit, and the insurance company keeps the cash value.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A whole life insurance policy works a bit like a mortgage: During the first few years, a large portion of your payments during the early years goes toward interest. More of your monthly payments go toward the principal as you get closer to paying off your house.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">With a whole life insurance policy, a higher percentage of your premium goes toward cash value when you first buy it. When you’re older, a higher percentage goes toward the actual insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">There are&nbsp;a few ways you can capture the cash value&nbsp;and prevent it from being a large, pointless payment to your insurance company. You can take out a loan against the cash value. You usually can use your cash value to pay for your premiums later in life. And you can surrender or cancel your policy and get back a percentage of your account’s cash value from your insurance company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The problem is, unless you’re a modern-day Nostradamus, it can be difficult to predict your own death. So the odds are on the insurance company’s side. Given a volume of whole life insurance policies, the insurance company will make a nice profit and a number of people will end up forfeiting all their cash value to the company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you do manage to tap into your cash value, you’ll often pay fees or not be able to collect the full amount.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>Term Life vs. Whole Life Insurance: Comparing Features</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:image {\"id\":174441} -->\n<figure class=\"wp-block-image\" id=\"attachment_174441\"><img src=\"https://i0.wp.com/clark.com/wp-content/uploads/2020/09/Term-vs.-Whole-Life-Insurance-1.png?resize=800%2C427&amp;ssl=1\" alt=\"Term vs. Whole Life Insurance: Here are the differences.\" class=\"wp-image-174441\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Term life insurance is simple, while whole life insurance is complicated.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">But it’s easy to explain term life vs. whole life insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Term life insurance offers cheaper monthly premiums.</li><li>Whole life insurance will pay out no matter when you die, while term life insurance will pay out only if you die within the specified term.</li><li>Whole life insurance includes an investment element called cash value.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>Term Life vs. Whole Life Insurance: Comparing Cost</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The chart below provides monthly price comparisons between term life and whole life insurance as of September 2020. I used 20- and 30-year term life policies because they are among the longest coverage periods and therefore the best comparison to whole life.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For term life, I averaged the monthly rates&nbsp;provided by Policygenius&nbsp;and&nbsp;Haven Life Insurance Agency&nbsp;for males and females at 25, 35 and 45 years old who are in good health. (The other options were excellent health and average health.)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For whole life, I used monthly rates&nbsp;provided by USAA&nbsp;for males and females of the same ages. I set the height and weight at 6’ and 180 pounds for the male and 5’8” and 150 pounds for the female. I selected no military background, no tobacco use in the last 12 months, no parent who died of cardiovascular disease before 60 and no history of medical conditions that required care from a doctor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:table -->\n<figure id=\"tablepress-226-no-4\" class=\"wp-block-table\"><table><thead><tr><th>Gender/Age</th><th>Policy Amount</th><th>20-Year Term Life</th><th>30-Year Term Life</th><th>Whole Life</th></tr></thead><tbody><tr><td><strong>Female/25</strong></td><td>$250,000</td><td>$14/month</td><td>$18/month</td><td>$127/month</td></tr><tr><td></td><td>$500,000</td><td>$20/month</td><td>$29/month</td><td>$245/month</td></tr><tr><td></td><td>$1 Million</td><td>$34/month</td><td>$51/month</td><td>$473/month</td></tr><tr><td><strong>Male/25</strong></td><td>$250,000</td><td>$16/month</td><td>$23/month</td><td>$142/month</td></tr><tr><td></td><td>$500,000</td><td>$25/month</td><td>$37/month</td><td>$273/month</td></tr><tr><td></td><td>$1 Million</td><td>$43/month</td><td>$68/month</td><td>$530/month</td></tr><tr><td><strong>Female/35</strong></td><td>$250,000</td><td>$15/month</td><td>$22/month</td><td>$167/month</td></tr><tr><td></td><td>$500,000</td><td>$24/month</td><td>$37/month</td><td>$322/month</td></tr><tr><td></td><td>$1 Million</td><td>$41/month</td><td>$67/month</td><td>$627/month</td></tr><tr><td><strong>Male/35</strong></td><td>$250,000</td><td>$17/month</td><td>$26/month</td><td>$185/month</td></tr><tr><td></td><td>$500,000</td><td>$28/month</td><td>$43/month</td><td>$359/month</td></tr><tr><td></td><td>$1 Million</td><td>$48/month</td><td>$79/month</td><td>$697/month</td></tr><tr><td><strong>Female/45</strong></td><td>$250,000</td><td>$27/month</td><td>$42/month</td><td>$232/month</td></tr><tr><td></td><td>$500,000</td><td>$45/month</td><td>$75/month</td><td>$450/month</td></tr><tr><td></td><td>$1 Million</td><td>$83/month</td><td>$142/month</td><td>$878/month</td></tr><tr><td><strong>Male/45</strong></td><td>$250,000</td><td>$33/month</td><td>$54/month</td><td>$261/month</td></tr><tr><td></td><td>$500,000</td><td>$57/month</td><td>$99/month</td><td>$507/month</td></tr><tr><td></td><td>$1 Million</td><td>$107/month</td><td>$191/month</td><td>$989/month</td></tr></tbody></table></figure>\n<!-- /wp:table -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>A Practical Example</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Take a look at the third example in the table above. A 35-year-old female with a $1 million policy ends up paying $492 annually for a 20-year term life policy or $7,524 annually for a whole life policy. That’s a difference of $140,640 in 20 years.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If she invested that money and got a 10% annual return (the approximate average for the S&amp;P 500 since it formed in 1926), she’d end up with $402,757.80. Remember, her beneficiary would still get the $1 million death benefit if she were to die during the 20-year term.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">With whole life insurance, her insurance company would take a chunk of her premium for commissions and fees. The remaining portion would grow but at a rate that’s historically much lower than the average of the S&amp;P 500.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">And if she died before finding a way to leverage that money, her beneficiary would get a $1 million payout, but the insurance company would keep every penny of her cash value.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>Term Life vs. Whole Life Insurance: Which Is the Best Choice?</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Term life insurance makes more sense for almost everyone, according to Clark.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you’re wealthy, there may be some tax implications that make a whole life insurance policy attractive. The IRS does not tax the cash value of a whole life policy as it accumulates; it’s tax-deferred. You can also borrow money, tax-free, from your cash value up to the amount you’ve paid into the policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You could also see the policy as a way to stash away cash for something you might need later in life such as long-term healthcare policy that could pay for nursing home or home healthcare.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For everyone else, the monthly premiums can be prohibitively expensive. Some people even end up abandoning their whole life insurance policies even though they’ve paid thousands in premiums over the years.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">One also has to consider that, for most people, investing on your own will provide a better return than using whole life insurance as an investment vehicle. According to Clark, a Roth IRA is a much more efficient way to save money for the future.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>A Simple Guide to Making Your Decision</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Here are the things you should consider to make your choice.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Choose term life if:</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>You don’t want to worry about affording whole life insurance premiums.</li><li>You want to make sure your loved ones have a way to replace your income if you die within the next 10 to 30 years.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Choose whole life if:</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>You’re a high-income earner (Clark says $400,000 or more annually) who wants to tap into your cash value as a tax-free loan.</li><li>You’re a wealthy individual in your 50s or 60s, and you’re buying it for investment or tax purposes.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">But again, Clark recommends term life policies in all most all circumstances.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">“There’s no more efficient way that exists to replace income than with a level term insurance policy. They’re cheap, they’re simple and the amount of coverage you can buy for a very small monthly amount is fantastic,” Clark said. “They’re never going to be able to buy the level of replacement of income with a whole life policy that they can afford to buy with the term.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>Other Types of Life Insurance Policies</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You may have heard of other types of life insurance. They’re essentially variations of whole life insurance. All three listed below include built-in cash value just like whole life insurance. Term life insurance is better for almost everyone.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Universal life insurance:</strong>&nbsp;A form of permanent life insurance that combines an investment element with lower premiums. The cash value earns interest based on the current market or minimum interest rate, whichever is greater.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Variable life insurance:</strong>&nbsp;A form of permanent life insurance that ties its cash value to sub-accounts that are similar to mutual funds. It’s a more volatile type of insurance because the rate of return on the investment portion of the policy is less predictable. The performance of its underlying securities determines the cash value.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>Final Thoughts</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Clark says it almost always makes more sense to choose term life insurance instead of whole life insurance. And as you saw in the table above, you can get better returns investing on your own rather than through your insurance policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you make good financial choices, you may not need any type of life insurance policy by the time you hit retirement age and you are more financially independent.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://clark.com/insurance/life-insurance/term-life-vs-whole-life-insurance/\">click here.</a></p>\n<!-- /wp:paragraph -->','Term Life vs. Whole Life Insurance: Understanding the Difference','','inherit','closed','closed','','2251-revision-v1','','','2022-04-26 14:58:54','2022-04-26 14:58:54','',2251,'http://smartinsurance.tips/?p=2420',0,'revision','',0),(2421,1,'2022-04-26 14:59:53','2022-04-26 14:59:53','','PC-insurance-5','','inherit','open','closed','','pc-insurance-5-2','','','2022-04-26 14:59:53','2022-04-26 14:59:53','',2254,'http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-5.png',0,'attachment','image/png',0),(2422,1,'2022-04-26 15:00:08','2022-04-26 15:00:08','<!-- wp:image {\"id\":2421,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-5-1024x536.png\" alt=\"\" class=\"wp-image-2421\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">As a homeowner, it’s your job to care for and protect your property, but&nbsp;home insurance&nbsp;companies&nbsp;offer policies that can help you with the protection part. Tree damage may not be the first thing that comes to mind when choosing coverage levels for your homeowner’s insurance, but if a tree falls on your home, it can damage your house and your possessions and cause financial devastation. The endless ‘what if’ scenarios can feel overwhelming, but as far as tree damage is concerned, it’s best to pick coverage rooted in caution and practicality.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Much like the Lorax speaks for the trees, we’ve outlined preventative measures you can take to care for or remove trees and protect your property from tree damage. We’ve also outlined scenarios where your home insurance might or might not cover damage caused by trees. Understanding the nuances of a standard homeowners insurance policy could help ensure you know what is covered if a tree wreaks havoc on your property and what damage you might be responsible for out of pocket.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Key statistics</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>2% of homeowner’s insurance losses were caused by property damage in 2019. Over a third of that property damage was due to natural causes, specifically wind and hail.</li><li>Insurance companies paid an average of $4,110 for settled tree claims. Seven percent of these claims were as a result of a fallen tree.&nbsp;</li><li>If a tree located on your neighbor’s property damages your house or property, your insurance company may try to collect from their insurance company. If successful, you could be reimbursed for your deductible.&nbsp;</li><li>If you have particularly valuable trees on your property, you should consider how much it would cost to replace them when determining&nbsp;how much homeowners insurance you need.&nbsp;</li><li>Standard homeowners insurance&nbsp;typically covers damages to trees and shrubs due to disasters or accidents like fire, lightning, vandalism and theft, but this coverage is typically limited to five percent of the amount of insurance on the structure of your home, and insurers will also usually cap coverage for any one tree, shrub or plant.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"tree-damage\">Does homeowners insurance cover tree damage?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Whether or not a homeowners insurance policy covers tree damage depends on the situation. In order for the damage to be covered, the cause of the tree falling must be due to a covered&nbsp;peril. Many homeowners know they can usually file a claim if a tree damages a covered structure, but you may not know that many home insurance policies also cover at least some portion of damage to the actual trees, shrubs or plants, as long as the damage was caused by a covered peril.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">So if a tree falls in your yard but does not damage your home or any other structure on your property, some portion of it may be covered by your home insurance policy. According to the Triple-I, this type of coverage will generally be capped at a certain percentage of your dwelling coverage limits. It’s important to note that most home insurance companies will not pay for tree or shrub removal, except in some cases where it is blocking a driveway or handicap access.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Every policy is different, however, so you should consider speaking with your insurance agent about what is and is not covered in your policy —&nbsp;<strong><em>before</em></strong>&nbsp;tree damage occurs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Tree damage causes typically covered by home insurance:</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Storms</li><li>Hail</li><li>Ice</li><li>A fire caused by lightning (and other apocalyptic events)</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Tree damage causes typically not covered by home insurance:</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Rot</li><li>Age</li><li>Flood</li><li>Earthquake</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"tree-removal\">Does homeowners insurance cover tree removal?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Homeowners insurance typically covers the removal of trees if they have fallen due to a covered peril and onto a covered structure, like your house, or if the tree is blocking an access point. Some situations where tree removal may be covered are:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>If a tree falls on an insured structure, such as your home itself or a garage</li><li>If a fallen tree is blocking a driveway</li><li>If a fallen tree is blocking a handicap-accessible ramp</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Situations where tree removal is not covered under your insurance policy should be carefully considered. If your home hasn’t been damaged by a fallen tree, but you want to preemptively remove trees on your property, it is unlikely to be covered — and could even have negative consequences.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For example, if the person responsible for removing the tree is injured during the process, you may risk legal repercussions as the property owner. Bodily injury liability is one of the more infrequent causes for insurance claims, but can be one of the most costly. From 2015-2019, according to the Triple-I, bodily injury and property damage was the second severest homeowner’s insurance claim, costing an average of&nbsp;$29,752.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Insurance companies consider your justification for tree removal to determine if it will be covered. They will likely not cover the removal if you’re worried about your yard aesthetic and find the tree unsightly. If an insured structure was hit, insurance providers may reimburse you for tree removal up to a specified dollar amount,&nbsp;usually ranging from $500-$1,000. If a covered structure was not hit, your insurance company is unlikely to pay for its removal, except, possibly, in the circumstances mentioned above. It’s important to check your policy and ask your agent to determine your exact coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"property-damage\">What to do when someone else’s tree damages your property?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A standard homeowners insurance policy should cover a tree that falls on your house, regardless of who owns the tree.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In some cases, the insurance company may try to collect the money needed to cover the damage from the neighbor’s insurance company in a process called subrogation, which may also cover the deductible for the homeowner whose property was damaged.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">However, if your neighbor’s tree has not fallen on your house, but it’s encroaching on your property, do you have the right to cut it?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Usually, it depends on whose yard has the tree trunk. If your neighbor’s tree branches and leaves cover portions of your yard, but the tree trunk is in his yard,&nbsp;it belongs to your neighbor.&nbsp;In that case, your local laws or HOA governance will likely determine whether overgrown trees that encroach on your property must be maintained by their owner.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Tree removal in these cases can lead to disputes between you and your neighbors who have differing opinions on the matter. Your HOA may get involved, or worse — your neighborhood Facebook page could become the battleground for the tree removal debate.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Another risky ‘what if’ is if your tree is damaging your neighbor’s property. It could cost you and your insurance provider to compensate for the damages, not to mention your reputation in the neighborhood. That’s why regular care and maintenance of your trees is typically a good idea.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"insurance\">How much to expect from the insurance company?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The payout from your insurance company after tree damage depends on several factors, including what type of property was damaged. If a covered peril causes damage to your house, you may be eligible to receive up to the limit of your policy’s&nbsp;dwelling coverage, depending on how much damage was done.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You can usually also file a claim for your personal belongings, if they were damaged, up to certain limits. Different categories of possessions have individual limits and high-value items may not be covered at all, unless you have added them with&nbsp;scheduled personal property insurance. You can choose to increase these limits, but it will likely cause&nbsp;your homeowners insurance premium&nbsp;to go up.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">How much you are reimbursed for your belongings and dwelling coverage also depends on whether you have&nbsp;actual cash value (ACV)&nbsp;or&nbsp;replacement cost value (RCV)&nbsp;on your policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If the tree itself that caused damage to your home was valuable, you might also be able to file a claim to replace it. As mentioned earlier, not all policies will cover the actual tree, and the ones that do will likely have certain coverage caps in place, so you will need to look at your policy or speak with an agent to see how much is covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Once a claims adjuster creates an estimate for each claim category, the insurance company subtracts your policy deductible from the amount you receive. Many homeowners insurance policies also cover some living expenses, such as hotels, up to certain limits if your home is uninhabitable while the damage is repaired.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"prevent\">How to prevent tree damage?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">It is your responsibility as a homeowner to maintain your trees properly. Damage caused by dead or rotting trees is not likely to be covered by homeowners insurance, and if a tree owned by you causes damage to someone else’s property or person, you might get sued. Here are a few things you can do to prevent trees from causing damage to structures and property:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Trim any trees on your property regularly, especially those with long branches.</li><li>Check for signs your trees are dead or dying (not on&nbsp;Healthline) by observing a year-round lack of leaves or hollow trunks.</li><li>Look for mushrooms, cracks or holes at the base of tree trunks to rule out rotting.</li><li>Consider removing trees that are leaning off-center that have a higher potential to fall.</li><li>Pay extra attention to trees that hang over your roof, driveway or power lines.</li><li>Consider having a tree expert examine the trees on your property periodically to look for signs or disease or rot, or to recommend preventative maintenance.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"faqs\">Frequently asked questions</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Does homeowners insurance cover diseased tree removal?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Diseased tree removal is generally considered routine maintenance and is not typically covered by a standard homeowners insurance policy. It is your responsibility to track the health of your trees and treat them when needed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">If a falling tree damages my roof, will that be covered by homeowners insurance?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A roof can be expensive to replace, but most standard policies will cover&nbsp;tree damage to a roof&nbsp;if the following perils caused it:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Fire or lightning</li><li>Windstorms and hail</li><li>Explosions</li><li>Riots, vandalism or theft</li><li>Damaged caused by aircraft or vehicles</li><li>Smoke</li><li>Volcanic eruptions</li><li>Falling objects</li><li>The weight of snow, ice or sleet</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In most cases, roof damage from a tree felled by floods or earthquakes is not covered. It is a good idea to purchase a separate policy to cover these perils if you live in an area prone to either. Note that insurance companies will typically only cover your roof if it is in good repair. If you are unsure of the specific coverages included in your policy, turn to your agent or insurance company for clarification.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Do trees add value to my home?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Arbor Day Foundation&nbsp;finds that planting trees in residential areas can increase property values anywhere from three to 15 percent. Trees can really spruce up a neighborhood and appeal to potential buyers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Removing dying or rotting trees can also&nbsp;increase the value of your home&nbsp;by eliminating that risk for future residents, according to Realtor.com. Remember that the cost of removing trees, even if diseased or rotting, is considered routine care and maintenance and is usually not covered by insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">What types of trees are the safest?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">It’s typically a good best practice to select trees that don’t forget their roots — literally. If you’re considering planting a tree or evaluating the type of tree on a property you’re looking to buy, look for healthy, strong roots. Bonus points if the tree is relatively low-maintenance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Some of the best trees for this can include oaks, maples, hickories and elm trees, according to Realtor.com. You might want to consult with a landscape expert to determine what trees are the best for your climate and property type.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">What types of trees can’t be trusted?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Simply put, trees that ain’t from ‘round these parts are better avoided. Experts advise picking trees best-suited for your environment and considering their native location. For example, non-native tree types like black locusts and box elders, native to the Southeast and Central/East regions, generally wouldn’t thrive in the desert climate of the Western U.S., according to Realtor.com.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">It’s also usually a good idea to avoid trees that attract invasive species of insects or trees with invasive roots. These types of trees can bring unwelcome visitors to your home or shift the foundation of your house entirely.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Trees with these types of roots include&nbsp;willows, hybrid poplars and silver maples, all of which have the potential to invade your sewer lines and drain pipes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Again, speaking with a landscape professional might be the best idea to determine what trees are right for your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.bankrate.com/insurance/homeowners-insurance/does-homeowners-insurance-cover-fallen-trees/\">click here.</a></p>\n<!-- /wp:paragraph -->','Homeowners insurance and tree damage','','inherit','closed','closed','','2254-revision-v1','','','2022-04-26 15:00:08','2022-04-26 15:00:08','',2254,'http://smartinsurance.tips/?p=2422',0,'revision','',0),(2423,1,'2022-04-26 15:00:56','2022-04-26 15:00:56','','PC-insurance-6','','inherit','open','closed','','pc-insurance-6-2','','','2022-04-26 15:00:56','2022-04-26 15:00:56','',2257,'http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-6.png',0,'attachment','image/png',0),(2424,1,'2022-04-26 15:01:04','2022-04-26 15:01:04','<!-- wp:image {\"id\":2423,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-6-1024x536.png\" alt=\"\" class=\"wp-image-2423\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You purchase&nbsp;home insurance&nbsp;to help financially protect you against the cost of repairs if your house gets damaged by life’s what-ifs. The good news is that your policy extends coverage well beyond the walls of your home, too. In many cases, that means that your home insurance will cover your fence in your yard.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Still, though, you do not get blanketed coverage for fence repairs from your homeowners insurance provider. The protection it extends to depends on why the fence was damaged, so it can be helpful to review your policy details. To make that easier, Bankrate summarized the key things you need to know about home insurance coverage for fences.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What part of a home insurance policy might cover fence damage?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Your home insurance policy includes different coverages, like dwelling insurance for your house itself and personal property coverage for your belongings. It also includes&nbsp;other structures coverage, which extends to things built on your property that do not attach to your home like sheds, detached garages and — you guessed it — fences.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A standard home insurance policy provides you with other structures coverage, typically&nbsp;10%<br>of your overall dwelling coverage, according to the Insurance Information Institute (Triple-I). So if your dwelling is insured for $400,000, you most likely have $40,000 in other structures coverage that can go toward things like fence repairs if damaged from a covered claim. The specific amount of other structures coverage is listed on the declaration page of your homeowners policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">As you look over your policy, it can also be beneficial to review to the&nbsp;covered perils, which are the instances in which your homeowners insurance will cover expenses. Almost all home insurance policies will provide coverage for fire, theft and windstorm claims, for example, but usually exclude coverage for floods and earthquakes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Generally, policies fall into two categories: those that cover named perils and those covering open perils. If you have a named-perils policy, your home insurance covers damage whenever something specifically listed or named in your policy occurs. With open perils, you get coverage unless the incident is specifically excluded.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In both cases, you would still have a deductible apply in the event of the claim. This means that the deductible amount you chose will be deducted from your insurance provider’s claim payout amount.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Look over your policy to understand when you would have protection — and what may be excluded. To get you started, we summarized some common instances of fence damage and whether or not they are considered insured losses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What kind of fence damage is covered by home insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Here is a quick look at some of the most common causes of fence damage and whether or not you could file a home insurance claim for them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Wear and tear</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Wear and tear is not covered by home insurance for your fence or any other part of your home. Your homeowners insurance company holds you responsible for performing the required maintenance around your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In fact, if you neglect maintenance, your claim could be denied. Say a strong wind blows over your fence. If your home insurance company finds that the fence was already falling apart because you were not maintaining it properly, coverage will most likely be denied.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Tree falls on the fence</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Whether the tree was on your property or your neighbors, you can&nbsp;file a claim through your home insurance, according to the Triple-I. If the tree is on your neighbor’s property and your insurance company finds that the limb or tree fell because your neighbor was negligent in their tree maintenance, it may try to recover the costs from your neighbor’s insurer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The same can hold true for you: if you fail to properly maintain your trees and one falls or drops a limb on your fence, your insurance company might deny coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Storms</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Standard home insurance policies offer coverage for repairs of damaged fences after a windstorm, hailstorm or a lightning strike.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">But if you live in a coastal area, especially if you are prone to hurricanes, your policy might exclude wind damage to fences from named tropical cyclones. Review your policy specifics to see if you should seek out a&nbsp;windstorm insurance&nbsp;endorsement or your policy may already include a separate windstorm deductible for named storms. A “hurricane deductible” is typically 1% to 5% of your home’s insured value.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Vandalism</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Homeowners insurance usually covers vandalism. So if your fence gets damaged by vandals or graffitied, your policy should pay out for the necessary repairs (up to your policy limits).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>A car hit the fence</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">While your home insurance can pay for repairs to a fence hit by a vehicle, you may also use the responsible driver’s property damage liability coverage, which is required in most states. In other words, because the damage is their fault, their car insurance liability coverage should pay for the property damage they caused to your fence.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Termites</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Termites, along with all other pests and infestations, are&nbsp;not covered&nbsp;by homeowners insurance. Your home insurance company considers termite damage a home maintenance issue, which means you will need to cover the cost of getting rid of the termites and repairing your fence.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How do you file a claim for fence damage?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Start by gathering evidence. Before you tackle any repairs or clean up, take pictures of the fence.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Then, determine if you want to contact your home insurance company. It may want to send a claims adjuster out to look at the fence before you start repairs or ask you to submit photos of the damage via its mobile app or claims website.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The main thing to consider here is your deductible. Say your home insurance deductible is $500. If you think the fence will only cost a couple hundred dollars to repair, you may want to skip filing a claim. Why? You would still be responsible for the repairs up to $500, and filing a claim can cause&nbsp;the cost of your home insurance&nbsp;to increase.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you think the damage will exceed your deductible and consequently want to file a home insurance claim, you can usually start the claims process by calling your insurance company or insurance agent, submitting the claim online via the insured’s website or through the insurer’s mobile app. Your insurance provider should give you the&nbsp;next steps for your claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">FAQs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Should I tell my home insurance company if I change my fence?</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you are cosmetically updating your fence, you probably do not need to notify your insurance provider. But if you plan to upgrade your fence and think the cost could cause you to be underinsured with your other structures coverage, you should review your policy details and speak to your insurance agent about your new fence so that you have adequate protection.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>What else is covered under other structures coverage?</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">As its name suggests, this coverage extends to structures on your property that are not attached to your house. That could be a fully finished detached garage or a simple backyard shed. Other structures also typically provides coverage for in-ground pools, driveways and gazebos.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Do I have enough other structures coverage?</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Remember that you usually get up to 10% of your dwelling insurance amount for other structures coverage. If you have multiple other structures or high-value ones, like in-law quarters with a kitchen and bath or an extremely long fence, the standard coverage limit might not be enough. In that case, contact your insurance professional to determine if you can increase your other structures coverage policy limit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.bankrate.com/insurance/homeowners-insurance/does-home-insurance-cover-fencing/?itm_source=parsely-api\">click here.</a></p>\n<!-- /wp:paragraph -->','Does home insurance cover fences?','','inherit','closed','closed','','2257-revision-v1','','','2022-04-26 15:01:04','2022-04-26 15:01:04','',2257,'http://smartinsurance.tips/?p=2424',0,'revision','',0),(2425,1,'2022-04-26 15:02:35','2022-04-26 15:02:35','','PC-insurance-8','','inherit','open','closed','','pc-insurance-8-2','','','2022-04-26 15:02:35','2022-04-26 15:02:35','',2260,'http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-8.png',0,'attachment','image/png',0),(2426,1,'2022-04-26 15:02:46','2022-04-26 15:02:46','<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A list of your belongings will make filing an insurance claim much easier.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":2425,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-8-1024x536.png\" alt=\"\" class=\"wp-image-2425\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"1\">In the event of a fire or other disaster, would you be able to remember all your possessions? Having an up-to-date home inventory will help you get your insurance claim settled faster, verify losses for your income tax return and help you purchase the correct amount of insurance. Here\'s how to create one.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Start your home inventory&nbsp;now</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you\'re just setting up a household, starting&nbsp;a home inventory&nbsp;is relatively simple. If you’ve been living in the same house for many years, however, the task of creating a list can seem daunting—but it doesn’t have to be. Get started here.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Pick an easy spot to start&nbsp;</strong>– A contained area—like your small kitchen appliance cabinet, your sporting equipment closet or your handbag shelf—is a great place to get started.</li><li><strong>List recent purchases</strong>&nbsp;– Another way to start is with recent purchases—get into the inventory habit and then go back tackle your older possessions.</li><li><strong>Include the basic information&nbsp;</strong>– In general, describe each item you record, and note where you bought it, the make and model, what you paid and any other detail that might help in the event you need to make a claim.</li><li><strong>Count clothing by general category –</strong>&nbsp;For example, \"5 pairs of jeans, 3 pairs of sneakers…\" Make note of any items that are especially valuable.</li><li><strong>Record serial numbers –&nbsp;</strong>Usually found on the back or bottom of major appliances and electronic equipment, serial numbers are a useful reference.</li><li><strong>Check coverage on big ticket items –&nbsp;</strong>Jewelry, art and collectibles may have increased in value and may need&nbsp;special coverage&nbsp;separate from your standard homeowners insurance policy. While you\'re making your home inventory list, check with your agent to make sure you have adequate insurance for these items&nbsp;<em>before</em>&nbsp;there is a loss.</li><li><strong>Don\'t forget off-site items</strong>&nbsp;– Your&nbsp;belongings kept in a self-storage facility are covered by your homeowners insurance, too. Make sure you include them in your inventory.</li><li><strong>Keep proof of value</strong>&nbsp;– Store sales receipts, purchase contracts, and appraisals with your list.</li><li><strong>Don\'t get overwhelmed</strong>&nbsp;– Once you\'ve started your inventory, keep going even if you can\'t get it all done immediately. It\'s better to have an incomplete inventory than nothing at all.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"fontSize\":\"large\"} -->\n<h2 class=\"has-large-font-size\">Use technology to make your home inventory easier</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A simple pencil and paper will suffice, but technology can make creating a home inventory much easier.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Take pictures –&nbsp;</strong>Create a photo record of your belongings. Capture important individual items as well as entire rooms, closets or drawers. Label your photos with what\'s pictured, where you bought it, the make or model—whatever information might be important to replacing and/or getting reimbursed for the item. Use your smartphone or digital camera—some give you the capability to put in the description of the item when saving the photo.</li><li><strong>Tape it&nbsp;</strong>– Walk through your house or apartment videotaping and describing the contents. For example, you might describe the contents of a kitchen cabinet: \"Poppies on Blue by Lenox, service for 12 that includes a dinner plate, salad plate, bowl, cup and saucer. Purchased in 2015.\"</li><li><strong>Use an app –&nbsp;</strong>There are many mobile app options that can help you create and store a room-by-room record of your belongings.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Keep your home inventory up-to-date and safely stored</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Your home inventory is only useful if it\'s accurate and you can access it to provide information to your insurance company in case of fire, theft or other destructive disaster. Regardless of the medium you\'ve used to create your list, keep it backed up and in a safe place.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Add significant new purchases to your list</strong>&nbsp;– Make it a habit to add the item information and receipts to your inventory while the details are fresh in your mind.</li><li><strong>Store a copy of your paper inventory outside the home</strong>&nbsp;– Keep it—along with applicable receipts and appraisals—in a safe deposit box or at a friend\'s or relative\'s home. Make at least one backup copy of your inventory document and store it separately. An easy way to make digital backup copies of your paper list is to take pictures of it on your smartphone.</li><li><strong>Backup digital files</strong>&nbsp;– Keep a copy on an external drive or online storage account.</li><li><strong>Understand your app</strong>&nbsp;– Be sure the information you input is backed up by the app developer and that you know how to access information when you need it.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.iii.org/article/how-create-home-inventory\">click here.</a></p>\n<!-- /wp:paragraph -->','How to create a home inventory?','','inherit','closed','closed','','2260-revision-v1','','','2022-04-26 15:02:46','2022-04-26 15:02:46','',2260,'http://smartinsurance.tips/?p=2426',0,'revision','',0),(2427,1,'2022-04-26 15:03:39','2022-04-26 15:03:39','','PC-insurance-9','','inherit','open','closed','','pc-insurance-9-2','','','2022-04-26 15:03:39','2022-04-26 15:03:39','',2263,'http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-9.png',0,'attachment','image/png',0),(2428,1,'2022-04-26 15:03:51','2022-04-26 15:03:51','<!-- wp:image {\"id\":2427,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-9-1024x536.png\" alt=\"\" class=\"wp-image-2427\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0\">There are certain types of&nbsp;insurance&nbsp;most people need to have. For example, if you own a home then homeowner\'s insurance may be standard. Auto insurance covers your vehicle while life insurance protects you and your loved ones in a worst-case scenario.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-2\">When your insurer gives you the policy document, it\'s important to read through it carefully to make sure you understand it. Your&nbsp;insurance advisor&nbsp;is always there for you to help you with the tricky terms in the insurance forms, but you should also know for yourself what your contract says. In this article, we\'ll make reading your insurance contract easy, so you understand their basic principles and how they are put to use in daily life.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block-callout-heading_1-0\"><strong>KEY TAKEAWAYS</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Life insurance contracts spell out the terms of your policy, including what\'s covered and what\'s not as well as what you\'ll pay.</li><li>A life insurance contract can contain terminology and jargon that you may not be immediately familiar with.</li><li>It\'s important to read through an insurance contract carefully before signing so you understand what you\'re agreeing to.</li><li>You should also review the contract to check for any errors that may affect your coverage or costs.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-6\">Insurance Contract Essentials</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-7\">When reviewing an insurance contract, there are certain things included that are typically universal.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-9\" class=\"has-black-color has-text-color has-medium-font-size\"><li><em>Offer and Acceptance.&nbsp;</em>When applying for insurance, the first thing you do is get the proposal form of a particular insurance company. After filling in the requested details, you send the form to the company (sometimes with a&nbsp;premium&nbsp;check). This is your offer. If the insurance company agrees to insure you, this is called&nbsp;acceptance. In some cases, your insurer may agree to accept your offer after making some changes to your proposed terms.</li><li><em>Consideration.&nbsp;</em>This is the premium or the future premiums that you have to pay to your insurance company. For insurers, consideration also refers to the money paid out to you should you file an&nbsp;insurance claim. This means that each party to the contract must provide some value to the relationship.</li><li><em>Legal Capacity.&nbsp;</em>You need to be legally competent to enter into an agreement with your insurer. If you are a minor or are mentally ill, for example, then you may not be qualified to make contracts. Similarly, insurers are considered to be competent if they are licensed under the prevailing regulations that govern them.</li><li><em>Legal Purpose.</em>&nbsp;If the purpose of your contract is to encourage illegal activities, it is invalid.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Important:</strong> You may not want to sign an insurance contract if you don\'t fully understand the terms without first consulting an insurance expert.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-13\">Contract Values</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-14\">This section of an insurance contract specifies what the insurance company may pay out to you for an eligible claim, as well as what you may pay to the insurer for a deductible. How these sections of an insurance contract are structured often depends on whether you have an indemnity or non-indemnity policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-16\">Indemnity Contracts</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-17\">Most insurance contracts are&nbsp;indemnity contracts. Indemnity contracts apply to insurances where the loss suffered can be measured in terms of money.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-19\" class=\"has-black-color has-text-color has-medium-font-size\"><li><em>Principle of Indemnity.&nbsp;</em>This states that insurers pay no more than the&nbsp;actual loss&nbsp;suffered. The purpose of an insurance contract is to leave you in the same financial position you were in immediately prior to the incident leading to an insurance claim. When your old Chevy Cavalier is stolen, you can\'t expect your insurer to replace it with a brand new Mercedes-Benz. In other words, you will be&nbsp;remunerated&nbsp;according to the total sum you have&nbsp;assured&nbsp;for the car.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-23\">There are some additional factors of your insurance contract that create situations in which the&nbsp;full value&nbsp;of an insured asset is not remunerated.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-25\" class=\"has-black-color has-text-color has-medium-font-size\"><li><em>Under-Insurance.&nbsp;</em>Often, in order to save on premiums, you may insure your house at $80,000 when the total value of the house actually comes to $100,000. At the time of partial loss, your insurer will pay only a proportion of $80,000 while you have to dig into your savings to cover the remaining portion of the loss. This is called&nbsp;under-insurance, and you should try to avoid it as much as possible.</li><li><em>Excess.&nbsp;</em>To avoid trivial claims, the insurers have introduced provisions like excess. For example, you have&nbsp;auto insurance&nbsp;with the applicable excess of $5,000. Unfortunately, your car had an accident with the loss amounting to $7,000. Your insurer will pay you the $7,000 because the loss has exceeded the specified limit of $5,000. But, if the loss comes to $3,000 then the insurance company will not pay a single penny and you have to bear the loss expenses yourself. In short, the insurers will not entertain claims unless and until your losses exceed a minimum amount set by the insurer.</li><li><em>Deductible.&nbsp;</em>This is the amount you pay in&nbsp;out-of-pocket expenses&nbsp;before your insurer covers the remaining expense. Therefore, if the deductible is $5,000 and the total insured loss comes to $15,000, your insurance company will only pay $10,000. The higher the deductible, the lower the premium and vice versa.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-27\">Non-Indemnity Contracts</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-28\">Life insurance&nbsp;contracts and most personal accident insurance contracts are non-indemnity contracts. You may purchase a life insurance policy of $1 million, but that does not imply that your life\'s value is equal to this dollar amount. Because you can\'t calculate your life\'s&nbsp;net worth&nbsp;and fix a price on it, an indemnity contract does not apply.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-30\">A life insurance contract typically includes the following:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-32\" class=\"has-black-color has-text-color has-medium-font-size\"><li><em>Declarations page:&nbsp;</em>This is often the first page of a life insurance policy and it includes the policy owner\'s name, the policy type and number, issue date, effective date, premium class or rate class and any riders you\'ve chosen to add on. If you purchased a term life policy, the declarations page should also specify the length of the coverage term.</li><li><em>Policy terms and definitions:&nbsp;</em>You may see a separate section in your life insurance contract that breaks down terms and definitions, including death benefit, premium, beneficiary and insurance age. Your insurance age may be your actual age or the nearest age assigned to you by the life insurance company.</li><li><em>Coverage details:&nbsp;</em>The coverage details section of a life insurance contract provides in-depth information about your policy, including how much you\'ll pay for premiums, when those payments are due, penalties for missing payments and who your policy\'s death benefits should be paid out to. For example, you may have just one&nbsp;primary beneficiary&nbsp;or a primary beneficiary with several&nbsp;contingent beneficiaries.</li><li><em>Additional policy details:&nbsp;</em>There may be a separate section in your life insurance contract that covers riders if you\'ve chosen to add any on.&nbsp;Riders&nbsp;expand your policy\'s coverage.&nbsp;Common life insurance riders&nbsp;include accelerated death benefit riders, long-term care riders and critical illness riders. These add-ons allow you to tap into your death benefit while still living if you need money to cover expenses related to a terminal illness.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-34\">When you\'ve determined that life insurance is something you need, it\'s important to compare the options carefully. For example, you may lean toward&nbsp;term life insurance&nbsp;versus&nbsp;permanent life insurance&nbsp;if you don\'t need lifetime coverage. Or you may prefer permanent coverage if you\'re treating life insurance like an investment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Tip: Using a&nbsp;life insurance calculator&nbsp;can help you determine what type and what amount of coverage you need.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-42\">Insurable Interest</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-43\">It is your legal right to insure any type of property or&nbsp;any event that may cause financial loss&nbsp;or create legal&nbsp;liability&nbsp;for you. This is called&nbsp;insurable interest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-45\">Suppose you are living in your uncle\'s house, and you apply for&nbsp;homeowners insurance&nbsp;because you believe that you may inherit the house later. Insurers will decline your offer because you are not the owner of the house and, therefore, you do not stand to suffer financially in the event of a loss. When it comes to insurance, it is not the house, car or machinery that is insured. Rather, it is the monetary interest in that house, car or machinery to which your policy applies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-47\">It is also the principle of insurable interest that allows married couples to take out insurance policies on each other\'s lives, on the principle that one may suffer financially if the spouse dies. Insurable interest also exists in some business arrangements, as seen between a&nbsp;creditor&nbsp;and&nbsp;debtor, between business partners or between employers and employees.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Tip: In life insurance contracts, someone with an insurable interest can include your spouse, your children or grandchildren, a special needs adult who is also a dependent or aging parents.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-51\">Principle of Subrogation</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-52\">Subrogation&nbsp;allows an insurer to sue a&nbsp;third party&nbsp;that has caused a loss to the insured and pursues all methods of getting back some of the money that it has paid to the insured as a result of the loss.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-54\">For example, if you are injured in a road accident that is caused by the reckless driving of another party, you will be compensated by your insurer. However, your insurance company may also sue the reckless driver in an attempt to recover that money.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-56\">The Doctrine of Good Faith</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-57\">All insurance contracts are based on the concept of&nbsp;<em>uberrima fides,</em>&nbsp;or the&nbsp;doctrine of utmost good faith. This doctrine emphasizes the presence of mutual faith between the insured and the insurer. In simple terms, while applying for insurance, it becomes&nbsp;your duty to disclose your relevant facts&nbsp;and information truthfully to the insurer. Likewise, the insurer cannot hide information about the&nbsp;insurance coverage&nbsp;that is being sold.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-59\" class=\"has-black-color has-text-color has-medium-font-size\"><li><em>Duty of&nbsp;Disclosure.</em>&nbsp;You are legally obliged to reveal all information that would influence the insurer\'s decision to enter into the insurance contract. Factors that increase the risks<em>—</em>previous losses and claims under other policies, insurance coverage that has been declined to you in the past, the existence of other insurance contracts, full facts and descriptions regarding the&nbsp;property&nbsp;or the event to be insured<em>—</em>must be disclosed. These facts are called material facts. Depending on these material facts, your insurer will decide whether to insure you as well as what premium to charge. For instance, in life insurance, your smoking habit is an important material fact for the insurer. As a result, your insurance company may decide to charge a significantly higher premium as a result of your smoking habits.</li><li><em>Representations and Warranty.</em>&nbsp;In most kinds of insurances, you have to sign a declaration at the end of the application form, which states that the given answers to the questions in the application form and other personal statements and questionnaires are true and complete. Therefore, when applying for fire insurance, for example, you should make sure that the information that you provide regarding the type of construction of your building or the nature of its use is technically correct.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-61\">Depending on their nature, these statements may either be representations or warranties.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-63\">A) Representations: These are the written statements made by you on your application form, which represent the proposed risk to the insurance company. For instance, on a life insurance application form, information about your age, details of family history, occupation, etc. are the representations that should be true in every respect. Breach of representations occurs only when you give false information (for example, your age) in important statements. However, the contract may or may not be void depending on the type of the misrepresentation that occurs</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-65\">B) Warranties: Warranties in insurance contracts are different from those of ordinary commercial contracts. They are imposed by the insurer to ensure that the risk remains the same throughout the policy and does not increase. For example, in auto insurance, if you lend your car to a friend who doesn\'t have a license and that friend is involved in an accident, your insurer may consider it a breach of warranty because it wasn\'t informed about this alteration. As a result, your claim could be rejected.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-67\">As we\'ve already mentioned, insurance works on the principle of mutual trust. It is your responsibility to disclose all the relevant facts to your insurer. Normally, a breach of the principle of utmost good faith arises when you, whether deliberately or accidentally, fail to divulge these important facts. There are two kinds of non-disclosure:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-69\" class=\"has-black-color has-text-color has-medium-font-size\"><li>Innocent non-disclosure relates to failing to supply the information you didn\'t know about</li><li>Deliberate non-disclosure means providing incorrect material information intentionally</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-71\">For example, suppose that you are unaware that your grandfather died from cancer and, therefore, you did not disclose this material fact in the family history questionnaire when applying for life insurance; this is innocent non-disclosure. However, if you knew about this material fact and purposely held it back from the insurer, you are guilty of fraudulent non-disclosure.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-73\">When you supply inaccurate information with the intention to deceive, your insurance contract becomes void.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-75\" class=\"has-black-color has-text-color has-medium-font-size\"><li>If this deliberate breach was discovered at the time of the claim, your insurance company will not pay the claim.</li><li>If the insurer considers the breach as innocent but significant to the risk, it may choose to punish you by collecting additional premiums.</li><li>In case of an innocent breach that is irrelevant to the risk, the insurer may decide to ignore the breach as if it had never occurred.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-77\">Other Policy Aspects</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-78\"><em>The Doctrine of Adhesion.</em>&nbsp;The&nbsp;doctrine of adhesion&nbsp;states that you must accept the entire insurance contract and all of its terms and conditions without bargaining. Because the insured has no opportunity to change the terms, any ambiguities in the contract will be interpreted in their favor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-80\"><em>Principle of Waiver and Estoppel</em>. A&nbsp;waiver&nbsp;is a voluntary surrender of a known right.&nbsp;Estoppel&nbsp;prevents a person from asserting those rights because they have acted in such a way as to deny interest in preserving those rights. Presume that you fail to disclose some information in the insurance proposal form. Your insurer doesn\'t request that information and issues the insurance policy. This is a waiver. In the future, when a claim arises, your insurer cannot question the contract on the basis of non-disclosure. This is estoppel. For this reason, your insurer will have to pay the claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-82\"><em>Endorsements</em>&nbsp;are normally used when the terms of insurance contracts are to be altered. They could also be issued to add specific conditions to the policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-84\"><em>Co-insurance</em>&nbsp;refers to the sharing of insurance by two or more insurance companies in an agreed proportion. For the insurance of a large shopping mall, for example, the risk is very high. Therefore, the insurance company may choose to involve two or more insurers to share the risk. Coinsurance can also exist between you and your insurance company. This provision is quite popular in medical insurance, in which you and the insurance company decide to share the covered costs in the ratio of 20:80. Therefore, during the claim, your insurer will pay 80% of the covered loss while you shell out the remaining 20%.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-86\"><em>Reinsurance</em>&nbsp;occurs when your insurer \"sells\" some of your coverage to another insurance company. Suppose you are a famous rock star and you want your voice to be insured for $50 million. Your offer is accepted by the Insurance Company A. However, Insurance Company A is unable to retain the entire risk, so it passes part of this risk<em>—</em>let\'s say $40 million<em>—</em>to Insurance Company B. Should you lose your singing voice, you will receive $50 million from insurer A ($10 million + $40 million) with insurer B contributing the reinsured amount ($40 million) to insurer A. This practice is known as reinsurance. Generally, reinsurance is practiced to a much greater extent by general insurers than life insurers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-88\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-89\">When applying for insurance, you will find a huge range of insurance products available in the market. If you have an insurance advisor or broker, they can shop around and make sure that you are getting adequate insurance coverage for your money. Even so, a little understanding of insurance contracts can go a long way in making sure that your advisor\'s recommendations are on track.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-91\">Furthermore, there may be times when your claim is canceled because you didn\'t pay attention to certain information requested by your insurance company. In this case, a lack of knowledge and carelessness can cost you a lot. Go through your insurer\'s policy features instead of signing them without delving into the fine print. If you understand what you\'re reading, you\'ll be able to ensure that the insurance product that you are signing up for will cover you when you need it most.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.investopedia.com/articles/pf/06/insurancecontracts.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Easily Understand Your Insurance Contract?','','inherit','closed','closed','','2263-revision-v1','','','2022-04-26 15:03:51','2022-04-26 15:03:51','',2263,'http://smartinsurance.tips/?p=2428',0,'revision','',0),(2429,1,'2022-04-26 15:04:38','2022-04-26 15:04:38','','PC-insurance-10','','inherit','open','closed','','pc-insurance-10-2','','','2022-04-26 15:04:38','2022-04-26 15:04:38','',2266,'http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-10.png',0,'attachment','image/png',0),(2430,1,'2022-04-26 15:04:48','2022-04-26 15:04:48','<!-- wp:image {\"id\":2429,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-10-1024x536.png\" alt=\"\" class=\"wp-image-2429\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Are you struggling with how to reduce&nbsp;workers’ compensation&nbsp;costs for your business? If not, do you understand the sizeable risk that workers’ compensation claims pose to your business, and do you have a plan in place for when these claims arise?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">From a simple muscle strain to more serious, long-term ailments, on-the-job injuries are no joke. As a business owner, your preparedness for these situations can determine the fate of your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You’re probably well-aware of the direct costs you pay in workers’ compensation insurance premiums, but you may not have considered the&nbsp;indirect costs&nbsp;of on-the-job accidents and injuries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You may have to train replacement employees, adjust work schedules, investigate accidents and implement corrective measures. You may lose productivity, have to repair damaged equipment and property, and deal with lower employee morale and absenteeism.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For an eye-opening look at just how much a workplace injury can cost your business, use the Occupational Safety &amp; Health Administration’s (OSHA)&nbsp;$afety Pays tool&nbsp;to calculate the direct and indirect costs to your business. You’ll see how much accidents and injuries, from a simple muscle strain to a more serious concussion, can set your company back.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">That’s why controlling workers’ compensations costs is so important to your bottom line. Here are three strategies to get you started:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">1. Set up a safety program</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Many injuries can be prevented before they occur.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Having a safety program helps you identify and eliminate workplace hazards that may cause accidents. The return-on-investment for such programs is well proven.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Various studies have shown that for every dollar invested in injury prevention, businesses see a $2 to $6 return, according to&nbsp;Safety and Health Magazine.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">This strong return may explain why many states, like California, require employers to have a written safety program.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Moreover, putting standards and procedures on paper shows that your company is committed to providing a&nbsp;safe work environment for employees.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How to set up a safety program?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Ready to start planning? The Occupational Safety and Health Administration offers many helpful tips and tools to kick off your health and safety plan. When drafting it, be sure to incorporate their&nbsp;seven core elements&nbsp;of recommended practices for health and safety programs:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ol class=\"has-black-color has-text-color has-medium-font-size\"><li>Management leadership: Make safety and health a core organizational value, establish safety and health goals and objectives and communicate them, provide adequate resources and support for the program and set a good example.</li><li>Worker participation: Involve workers and their representatives in all aspects of the program—including setting goals, identifying and reporting hazards, investigating incidents and tracking progress.</li><li>Hazard identification and assessment: Put procedures in place to continually identify workplace hazards and evaluate risks.</li><li>Hazard prevention and control: Cooperate with workers to identify and select methods for eliminating, preventing or controlling workplace hazards.</li><li>Education and training: Train all workers to understand how the program works and how to carry out the responsibilities assigned to them under the program.</li><li>Program evaluation and improvement: Establish processes to monitor program performance, verify program implementation and identify program shortcomings and opportunities for improvement.</li><li>Communication and coordination: Make a commitment to provide the same level of&nbsp;safety and health protection to all workers, and communicate hazards present at the worksite.</li></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you’re starting from scratch and have a perceivably safe work environment, you can get some extra help designing your safety program from a variety of sources at different prices. Consider using:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>A third-party consultant – Independent workplace safety consultants typically charge about $100/hour.</li><li>An industry-specific template – Some online companies sell downloadable safety program templates designed for different industries for approximately $100-$150.</li><li>Your workers’ compensation insurance carrier – Many carriers provide fee-inclusive safety consultation services to their customers.</li><li>Occupational Safety &amp; Health Administration – OSHA’s&nbsp;On-site Consultation Program&nbsp;offers free and confidential advice to small and medium-sized businesses. Although these services are “separate from enforcement,” be prepared to commit to completing&nbsp;OSHA’s recommendations.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">And remember, a safety program has to be more than the document. Only the support of top management and proper on-the-ground training will put it into practice (and make a real difference in employee safety, as well as controlling your workers’ compensation costs).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Once you have an effective health and safety plan up and running, you can also apply to participate in&nbsp;OSHA’s Voluntary Protection Programs (VPP).&nbsp;VPP officially recognizes employers and employees who have achieved exemplary occupational health.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In the program, management, labor and OSHA work cooperatively and proactively to prevent workplace fatalities, injuries and illnesses through a system focused on hazard prevention and control.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">VPP participants undergo a rigorous onsite evaluation by a team of safety and health professionals and are re-evaluated every 3 to 5 years to remain in the programs. VPP participants are exempt from OSHA programmed inspections while they maintain their VPP status. OSHA also offers several other&nbsp;cooperative programs&nbsp;aimed at preventing workplace injuries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">2. Build a return-to-work program</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Even with a sound safety program, accidents can still occur. When they do, a return-to-work program can create a direct cost benefit to the workers’ compensation claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">It’s often the case that the longer a workers’ compensation claim stays open, the more expensive the claim. For example, when injured employees return to work later, the claim must cover more replacement income.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The goal of a return-to-work program is to proactively help injured employees get back to work as soon as possible, even if it’s on a modified basis as they recover. This could include allowing an employee to work part-time or light-duty hours, coordinated in conjunction with the employee’s medical provider.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">An active return-to-work program can also have indirect cost benefits. It can help you maintain workplace ties with injured employees and avoid the alienation that can occur on both sides during a prolonged absence. And an early return-to-work lowers the chance that the employee will never return.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">3. Join a PEO</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Finally, joining a&nbsp;professional employer organization (PEO)&nbsp;can help manage workers’ compensation costs and claims, while also helping you navigate the safety challenges in your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A PEO can help you:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Choose workers’ compensation plan coverage. A PEO can cut the its workers’ compensation premiums by negotiating competitive programs with insurance providers</li><li>Evaluate the safety of your workplace and design a safety program that helps prevent injuries</li><li>Resolve claims efficiently when they occur</li><li>Manage relations with injured employees</li><li>Implement a return-to-work program that&nbsp;increases employee morale&nbsp;and reduces the length and cost of workers’ comp claims</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Bundled together, these efforts can make a big difference on workers’ compensation and the added, indirect costs of workplace injury. A good PEO’s safety services can go a long way toward fostering a high-return “culture of safety” at your organization.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.insperity.com/blog/workers-compensation-insurance-cost/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to reduce workers’ compensation costs? - 3 proven strategies','','inherit','closed','closed','','2266-revision-v1','','','2022-04-26 15:04:48','2022-04-26 15:04:48','',2266,'http://smartinsurance.tips/?p=2430',0,'revision','',0),(2431,1,'2022-04-26 15:30:41','2022-04-26 15:30:41','','Money-1-1','','inherit','open','closed','','money-1-1-2','','','2022-04-26 15:30:41','2022-04-26 15:30:41','',2294,'http://smartinsurance.tips/wp-content/uploads/2022/04/Money-1-1.png',0,'attachment','image/png',0),(2432,1,'2022-04-26 15:30:47','2022-04-26 15:30:47','<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Within the current world, there are a range of things that can influence someone’s saving habits. This means that it is more challenging than ever before to gain control over your finances and appreciate the process of saving for the future.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":2431,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Money-1-1-1024x536.png\" alt=\"\" class=\"wp-image-2431\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The term ‘financial literacy’ refers to taking the time to understand the world of finances a little more, and thinking about how you can save money through budgeting. There are a range of additional benefits that this can provide, including additional independence and being able to work towards your long-term goals.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">These are some of the benefits that come from improving your financial understanding and literacy, and why you should acknowledge your current savings habits to work towards a more secure future. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>Save For Retirement</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">So many people end up using their savings before they get the chance to retire, or reach retirement age. This can be due to a number of things, but one of the main reasons is poor financial planning and habits. Make sure that you investigate your current monthly expenses to see what you can cut back on.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Ensure that you are putting away a small amount each month if possible so that you have a higher amount saved for your retirement. Getting on top of your financial situation and improving your financial literacy is essential for you to increase your retirement savings.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Regardless of your age, you must have enough money in the right place that you can fall back on when needed. This includes medication, surgeries, and other things that will make your retirement a little more pricey. Ensure that you have prioritized saving for your retirement if you are closer to&nbsp;retirement age.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>Avoid Debt&nbsp;</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Another significant reason why you should improve your financial literacy is so that you can get a better understanding of your current income and allow for essential debt repayments. If you currently have a loan that needs to be repaid, or if you have a history of debt, then it could be worth changing your financial habits in order to avoid debt.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Try to change your priorities and consider implementing a stricter budget so that you do not fall into similar habits that are potentially damaging to your account and credit rating. Creating better savings habits can allow you to repay your debt, or make space in your monthly budget for debt repayments.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">This can prevent additional damage caused by debt collectors, credit agencies, and a harmful impact on your credit score overall that will impact your financial future.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>More Confidence And Independence</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Something that will come to anyone who works on the budget and financial literacy is an increased sense of independence and confidence. This is because you will be more aware of your current spending habits, and have the opportunity to reshape your budget and monthly outgoings.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">It could be worth taking a different approach to your finances so that you feel as if you have more control over your spending and have found the best deal with utilities and other regular bills. This can allow you to feel more confident and even treat yourself to something nice every so often.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">This can be an important part of somebody’s journey to financial literacy if you have a lower average income and find yourself regularly asking for help. Making sure that you know all the facts and how a range of things work within the financial world can allow you to be wiser with your money and save a small amount each month.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Knowing that you can support yourself if you need it can make you feel more independent and assured that you do not need to rely on anybody else in an urgent situation.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>Financial Security</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Part of the confidence that comes from improving your financial literacy stems from financial security. This can allow you to make bolder decisions and have a lot more clarity with your purchases in the future. Ensuring that you have a small amount of money saved over time can provide you with additional security.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you are interested in saving for a large purchase, have a baby on the way, or if you find yourself unemployed temporarily, a savings account or investment is a great thing to lean on when it is needed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Avoid asking loved ones for money as this can have a toll on your relationship with them over time, so it is worth putting a little money away when you have it that you can fall back on when it is needed.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>Credit Improvement For The Future</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Finally, it is worth making sure that you work on your finances so that you can improve your credit score. This is a three-digit number that banks and credit unions use to assess how likely you are to repay them over time.&nbsp;Whether you want a loan, or financing options for larger purchases including house mortgages, vehicle financing, or a vacation paid in instalments, your credit score can determine how flexible the corresponding institutions will be.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Make sure that you are creating better habits for the future so that your credit score will be higher. This can allow you more flexibility with the amount borrowed, repayment periods, and even achieve lower interest rates.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In some cases, this can be the difference between a smaller home and your dream location or building. Try to take better care of your finances now, so that you have additional security for the future. Higher credit scores can open all kinds of doors for you, so it is definitely worth maintaining it if possible.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>Summary</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">There are so many benefits that come from working on your finances and getting a better understanding of your financial literacy. Ensure that you figure out your main areas of weakness and that you are budgeting for regular bills and utilities that are necessary.&nbsp;Saving for the future can be done after this, but it could be worth seeking custom financial advice in more detail.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.finance-monthly.com/2022/02/why-is-financial-literacy-so-important/\">click here.</a></p>\n<!-- /wp:paragraph -->','Why Is Financial Literacy So Important?','','inherit','closed','closed','','2294-revision-v1','','','2022-04-26 15:30:47','2022-04-26 15:30:47','',2294,'http://smartinsurance.tips/?p=2432',0,'revision','',0),(2433,1,'2022-04-26 15:31:41','2022-04-26 15:31:41','','Money-2','','inherit','open','closed','','money-2-2','','','2022-04-26 15:31:41','2022-04-26 15:31:41','',2297,'http://smartinsurance.tips/wp-content/uploads/2022/04/Money-2.png',0,'attachment','image/png',0),(2434,1,'2022-04-26 15:31:55','2022-04-26 15:31:55','<!-- wp:image {\"id\":2433,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Money-2-1024x536.png\" alt=\"\" class=\"wp-image-2433\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Between turning the lights on in the morning, taking a hot shower, washing your clothes and countless other daily tasks, it’s impossible to avoid racking up a few utility bills each month.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Because these bills can add up quickly, this is a great category to look at when you’re hoping to reduce your monthly spending.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In this article, I’ll take a look at 15 steps you can take to reduce your monthly utility bills.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-15-ways-to-lower-your-utility-bills\"><strong>15 Ways To Lower Your Utility Bills</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The cost of your monthly utilities can vary greatly depending on your lifestyle, the time of year, the appliances you have and several other factors. In any case, you can lower your energy costs by making a few simple changes to your home and habits.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">To get started, make sure your utility bills are listed&nbsp;on your monthly budget. If you aren’t sure how much you typically spend on things like water and electricity, you can most likely&nbsp;<strong>view your past bills and usage online</strong>&nbsp;through each provider’s website.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">While you’re looking at your average utility costs online, check to see if there are any suggested tips for lowering&nbsp;your bill. The company may provide these based on your past usage. You can also try to identify any patterns, problems or usage spikes in your history that need to be corrected.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Once you have an idea of how much you currently spend on utility bills, follow these tips to reduce your usage and lower those expenses!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-1-set-up-zoned-heating-and-cooling\"><strong>1. Set Up Zoned Heating and Cooling</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":161691} -->\n<figure class=\"wp-block-image\"><img src=\"https://i0.wp.com/clark.com/wp-content/uploads/2020/04/How-to-save-on-utilities-1.png?resize=800%2C300&amp;ssl=1\" alt=\"Zoned heating and cooling\" class=\"wp-image-161691\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">One great way to lower your utility bills is by cutting down on your heating and air conditioning use. You can do this by dividing your home into zones that will let you heat or cool only the rooms or areas that are being used.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You can control each zone of your home with individual thermostats, or you can take a simpler approach for less upfront cost.&nbsp;<strong>Simply close all of the doors and vents in rooms that aren’t being used to reduce wasted energy</strong>. You can also set up fans throughout your home to increase or redirect airflow. And don’t forget to close off your fireplace when it’s not in use to prevent air from escaping.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-2-change-your-filters-and-keep-vents-clean\"><strong>2. Change Your Filters and Keep Vents Clean</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":218791} -->\n<figure class=\"wp-block-image\"><img src=\"https://i0.wp.com/clark.com/wp-content/uploads/2022/03/Check-your-vents.png?resize=800%2C300&amp;ssl=1\" alt=\"\" class=\"wp-image-218791\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Another way to ensure your heating and cooling systems aren’t being overworked is by changing your filters regularly and keeping your home’s vents clean.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Make sure that nothing is blocking your indoor and outdoor vents.&nbsp;<strong>There should be at least a foot of space to allow for proper airflow</strong>. That means that furniture in front of a vent should be pulled away from the wall, and any trees or bushes should be trimmed back or moved away from outdoor vents.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For the same reason, it’s important to change your filters regularly. Filters can quickly become clogged with dust, pet hair, dirt and other debris. Once a filter is clogged, the airflow is blocked. To prevent this,&nbsp;<strong>change your filters at least once a month</strong>. In between changes, you can use a handheld vacuum or vacuum extension to clear dust from filters and vents.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-3-insulate-the-attic-floors-and-walls\"><strong>3. Insulate the Attic, Floors and Walls</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">As you know, if it’s colder outside, heat will always leave your house if there’s no proper barrier to block its departure. For that reason, it’s important to insulate as much of your home as possible.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">According to the federal&nbsp;Energy Star&nbsp;program, “EPA estimates that homeowners can save an average of 15% on heating and cooling costs (or an average of 11% on total energy costs) by sealing their homes and adding insulation in attics, floors over crawl spaces and accessible basement rim joists.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Your attic, floors and walls are great places to start. Also be sure to check your ceiling fans, chimneys and ducts. Even outlets and light switches can be sources of air leaks, especially if they’re on an outside wall. You can typically find inexpensive outlet and switch plate seals at your local hardware store. These seals are designed to insulate electricity-sensitive areas and to prevent fires.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-4-seal-drafts-around-doors-and-windows\"><strong>4. Seal Drafts Around Doors and Windows</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":161693} -->\n<figure class=\"wp-block-image\"><img src=\"https://i0.wp.com/clark.com/wp-content/uploads/2020/04/How-to-save-on-utilities-3.png?resize=800%2C300&amp;ssl=1\" alt=\"Find air leaks\" class=\"wp-image-161693\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In addition to adding more insulation, be sure to check that drafts around doors and windows are sealed so that air isn’t escaping throughout the day. If you can feel air coming in from around your doors or windows, you may need to&nbsp;<strong>apply weatherstripping or caulk to stop the airflow</strong>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">These are both projects that you can do yourself with inexpensive weatherstripping or caulk from your local hardware store. If you aren’t sure whether you have leaks that need to be sealed or you aren’t able to seal them yourself, consider hiring a qualified contractor. The money you’ll save over time will be worth any initial investment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-5-use-an-electric-blanket\"><strong>5. Use an Electric Blanket</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Adjusting your thermostat too often or setting it to extreme highs and lows can cause huge spikes in your electricity bill. Instead of cranking up the heat, reach for an electric blanket. They’re perfect for keeping your bed warm throughout the night without heating your entire house. An electric blanket won’t pull nearly as much energy as your home heating system.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In addition to an electric blanket,&nbsp;<strong>consider other ways to adjust your body temperature instead of turning on the heat or air conditioning</strong>. Reducing the use of your thermostat is a great way to save on utility bills. Changing into something warmer or cooler, getting your heart rate up by moving around or turning on a fan are other great ways to do this.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-6-cook-strategically\"><strong>6. Cook Strategically</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":218792} -->\n<figure class=\"wp-block-image\"><img src=\"https://i0.wp.com/clark.com/wp-content/uploads/2022/03/Cook-smart.png?resize=800%2C300&amp;ssl=1\" alt=\"\" class=\"wp-image-218792\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">When you use your stovetop or oven, it generates a lot of heat. In the summer, that means your air conditioner will have to work harder to keep the space cool. In the winter, the extra warmth could be a great way to help give your heater a break. Keeping this in mind, try to&nbsp;<strong>cook indoors during the winter and outdoors during the summer</strong>.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you’re cooking something small, you may be able to&nbsp;<strong>use a toaster oven, air fryer, Instant Pot or microwave</strong>. These appliances use much less energy than an oven or stovetop, which means you’ll see savings on your electricity bill.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-7-use-your-dishwasher-wisely\"><strong>7. Use Your Dishwasher Wisely</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":218794} -->\n<figure class=\"wp-block-image\"><img src=\"https://i0.wp.com/clark.com/wp-content/uploads/2022/03/Dishwasher-tips.png?resize=800%2C300&amp;ssl=1\" alt=\"\" class=\"wp-image-218794\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">When it’s time to wash the dishes, use your dishwasher if you have one! Many dishwashers use less than five gallons of water per cycle, whereas washing dishes by hand can use up to four times that amount.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Try not to run the dishwasher until it’s completely full</strong>. Also, wash bigger pots and pans by hand to maximize the number of dishes you can fit into a single cycle.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">After you’ve put in your dishes and detergent, look at your settings. Instead of the manual “heat dry” setting,&nbsp;<strong>consider letting your dishes air-dry</strong>&nbsp;instead. This is a great way to reduce energy consumption, and if you run the dishwasher at night you’ll wake up to clean, dry dishes either way.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-8-cut-down-on-energy-spent-drying-clothes\"><strong>8. Cut Down on Energy Spent Drying Clothes</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In addition to air-drying your dishes, you can use the same trick on clothes for even more savings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Instead of using the tumble dry setting on your dryer, let your clothes air-dry naturally. You can hang them on a clothesline if you have one or create one by hanging string across the balcony or a room in your home.&nbsp;<strong>If you do need to use the dryer, throw a wool dryer ball in with the clothes</strong>&nbsp;to reduce the necessary running time.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">This is another chore that you should consider doing at night. Hanging up wet clothes to dry overnight ensures that everything will be ready to go when you wake up the next morning. This way, you can reduce energy costs from drying without ever feeling the difference.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-9-wash-your-clothes-on-cold\"><strong>9. Wash Your Clothes on Cold</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Washing your clothes in hot or warm water takes a lot of energy. You can cut down on this by switching to cold water. Try to use hot water only when washing soiled clothes. Aside from extreme cases like sickness or very dirty clothes,&nbsp;<strong>researchers at</strong>&nbsp;<strong>Consumer Reports&nbsp;agree that cold water is enough</strong>.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Lastly, try to wash large loads instead of smaller, more frequent ones. This is another great way to reduce the amount of energy your washer uses. That will, in turn, lower your next utility bill.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-10-use-less-water-when-flushing\"><strong>10. Use Less Water When Flushing</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":161696} -->\n<figure class=\"wp-block-image\"><img src=\"https://i0.wp.com/clark.com/wp-content/uploads/2020/04/How-to-save-on-utilities-6.png?resize=800%2C300&amp;ssl=1\" alt=\"Flush your toilet\" class=\"wp-image-161696\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The simple act of flushing your toilet uses more water than you’d expect. If you can reduce the amount of water you’re using per flush, you may be able to reduce your water bill as well. This is especially true if you have an older toilet.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you’re ready to replace your current toilet, consider a low-flow toilet. To conserve water with your current toilet, you can&nbsp;<strong>put a plastic bottle filled with water into your toilet tank</strong>. This will cause the toilet to use less water per flush.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Also, check for leaks periodically. To see if your toilet has a leak, put a few drops of food coloring into the tank. If the food coloring appears in the toilet bowl without flushing, there’s a leak that needs to be repaired.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-11-get-water-saving-showerheads-and-faucets\"><strong>11. Get Water-Saving Showerheads and Faucets</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":218795} -->\n<figure class=\"wp-block-image\"><img src=\"https://i0.wp.com/clark.com/wp-content/uploads/2022/03/Replace-your-showerhead.png?resize=800%2C300&amp;ssl=1\" alt=\"\" class=\"wp-image-218795\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Replacing your showerhead and faucets with more energy-efficient options will pay for themselves over time. Low-flow showerheads put out less than half the amount of water compared to traditional, older showerheads while still providing comparable pressure.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In addition to using less water, the most efficient showerheads hold water until they’re fully heated. That means you’ll be saving water when it would otherwise be running and heating up. You’ll also be reducing your energy costs by heating less water.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-12-insulate-your-water-heater-and-adjust-the-temperature\"><strong>12. Insulate Your Water Heater and Adjust the Temperature</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":161698} -->\n<figure class=\"wp-block-image\"><img src=\"https://i0.wp.com/clark.com/wp-content/uploads/2020/04/How-to-save-on-utilities-8.png?resize=800%2C300&amp;ssl=1\" alt=\"Insulate your water heater\" class=\"wp-image-161698\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Another great way to reduce energy and lower your utility bills is by lowering the temperature of your water heater. It’s most likely set too high anyway.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">“Although some manufacturers set water heater thermostats at 140º,&nbsp;<strong>most households usually only require them to be set at 120º</strong>,” according to the&nbsp;Department of Energy. “Set too high, or at 140º, your water heater can waste anywhere from $36 to $61 annually in standby heat losses.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If your water heater is five or more years old, you may want to&nbsp;<strong>consider buying a hot water heater jacket</strong>&nbsp;to insulate it. The Department of Energy reports that this alone can help you save 7% to 16% annually on your water heating bill. You can find&nbsp;step-by-step instructions&nbsp;online to complete this project yourself.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-13-buy-energy-efficient-appliances\"><strong>13. Buy Energy-Efficient Appliances</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You don’t have to invest in pricey new appliances just to cut down on energy costs, but when you are ready to upgrade, invest in energy-efficient options. If you aren’t sure where to start shopping,&nbsp;<strong>look for</strong>&nbsp;<strong>Energy Star-rated appliances</strong>. Products that earn this rating are certified to save energy and money over their lifespan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you are looking to upgrade your heating/cooling system, refrigerator or oven, take the time to research&nbsp;the best time and place to buy appliances.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-14-switch-to-energy-saving-light-bulbs\"><strong>14. Switch to Energy Saving Light Bulbs</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":161699} -->\n<figure class=\"wp-block-image\"><img src=\"https://i0.wp.com/clark.com/wp-content/uploads/2020/04/How-to-save-on-utilities-9.png?resize=800%2C300&amp;ssl=1\" alt=\"Replace your light bulbs\" class=\"wp-image-161699\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A cheap replacement that will help you reduce your energy usage and lower your utility bills is light bulbs.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The&nbsp;Department of Energy’s&nbsp;website says that switching to energy-efficient lighting is one of the fastest ways to cut your energy bills. In fact, it says that the average household saves about $225 in energy costs per year by using LED lighting.&nbsp;They recommend that you&nbsp;<strong>replace your home’s five most frequently used lights with bulbs that have earned the Energy Star rating</strong>.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In addition to using energy-efficient bulbs, consider setting up controls like timers and dimmers to reduce electricity usage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-15-consider-home-automation\"><strong>15. Consider Home Automation</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Taking things a step further, setting up home automation can help you save big money over time when it comes to energy costs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Home automation options include smart thermostats, lighting controls, smart power strips and more. Basically, it’s any technology that can remotely control and monitor your home’s systems.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Instead of having to worry about manually adjusting your thermostat throughout the day or remembering to turn off lights and appliances,&nbsp;<strong>home automation systems will monitor and reduce your energy use for you.</strong>&nbsp;That means you’ll be saving on your utility bills without having to change your day-to-day lifestyle at all!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Of course, keep in mind that this option comes with the upfront cost of whatever home automation system you decide to buy.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"h-final-thoughts\"><strong>Final Thoughts</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Overall, reducing your energy use in any way possible will help you lower your utility bills.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you aren’t sure where to start, begin by taking a walk through your home, cleaning any vents and changing any filters that haven’t been replaced in a while. Next, seal any drafts you can find. Make an effort to start using cold water when possible and let your clothes and dishes air-dry overnight. Lastly, lower your water heater temperature to 120º.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://clark.com/save-money/how-to-save-money-on-utilities/\">click here.</a></p>\n<!-- /wp:paragraph -->','How To Save Money on Utilities?','','inherit','closed','closed','','2297-revision-v1','','','2022-04-26 15:31:55','2022-04-26 15:31:55','',2297,'http://smartinsurance.tips/?p=2434',0,'revision','',0),(2435,1,'2022-04-26 15:32:51','2022-04-26 15:32:51','','Money-3','','inherit','open','closed','','money-3-2','','','2022-04-26 15:32:51','2022-04-26 15:32:51','',2300,'http://smartinsurance.tips/wp-content/uploads/2022/04/Money-3.png',0,'attachment','image/png',0),(2436,1,'2022-04-26 15:32:54','2022-04-26 15:32:54','<!-- wp:image {\"id\":2435,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Money-3-1024x536.png\" alt=\"\" class=\"wp-image-2435\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0\">Obtaining a&nbsp;mortgage&nbsp;is a crucial step in purchasing your first home, and there are several factors for choosing the most appropriate one. While the myriad of&nbsp;financing&nbsp;options available for first-time homebuyers can seem overwhelming, taking the time to research the basics of property financing&nbsp;can save you&nbsp;a significant amount of time and money.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-2\">Understanding the market&nbsp;where the&nbsp;property&nbsp;is located, and whether it offers incentives to lenders, may mean added financial perks for you. And by taking a close look at your finances, you can ensure that you&nbsp;are&nbsp;getting the mortgage that best suits your needs. This article outlines some of the important details that first-time homebuyers need to make their big purchase.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block-callout-heading_1-0\"><strong>KEY TAKEAWAYS</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Obtaining a mortgage is a crucial step in purchasing your first home, and there are several factors for choosing the best one.</li><li>Lenders will evaluate your creditworthiness and your ability to repay based on your income, assets, debts, and&nbsp;credit history.</li><li>As you choose a mortgage, you’ll have to decide between a fixed or floating rate, the number of years to pay off your mortgage, and the size of your down payment.</li><li>Conventional loans are&nbsp;mortgages&nbsp;that the government does not insure.</li><li>Depending on your circumstances, you may be eligible for more favorable terms through a Federal Housing Administration (FHA) loan, a U.S. Department of Veterans Affairs (VA) loan, or another type of government-guaranteed loan.</li><li>As a first-time homebuyer, you may be eligible for special programs that allow you to access deeply discounted homes and put low or no money down.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-8\">First-Time Homebuyer Requirements</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-9\">To be approved for a mortgage, you’ll need to meet&nbsp;several requirements&nbsp;depending on the type of loan for which you are applying.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-11\">To be approved specifically as a first-time homebuyer, you’ll need to meet the definition of a first-time homebuyer, which is broader than you may think. A first-time homebuyer is someone who has not owned a principal residence for three years, a single person who has only owned with a spouse, an individual who has only owned a residence not permanently affixed to a foundation, or an individual who has only owned a property that was not in compliance with building codes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You’ll generally need to have proof of income for a minimum of two years sufficient to pay the mortgage, a down payment of at least 3.5%, and a&nbsp;credit score&nbsp;of at least 620. However, as a first-time homebuyer, there are programs that can allow you to buy a home with a low income, $0 down, and credit scores as low as 500.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-15\">Loan Types</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-16\"><strong>Conventional Loans</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-17\">Conventional loans are&nbsp;mortgages&nbsp;that are not insured or guaranteed by the federal government. They are typically&nbsp;fixed-rate mortgages.&nbsp;They are some of the most difficult types of mortgages to qualify for because of their stricter requirements: a bigger&nbsp;down payment, higher&nbsp;credit score, lower&nbsp;debt-to-income (DTI) ratios, and the potential for a&nbsp;private mortgage insurance (PMI)&nbsp;requirement. However, if you can qualify for a conventional mortgage, they are usually less costly than&nbsp;loans that are guaranteed by the federal government.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-19\">Conventional loans are defined as either conforming loans or nonconforming loans. Conforming loans comply with&nbsp;guidelines, such as the loan limits&nbsp;set forth by&nbsp;government-sponsored enterprises (GSEs)&nbsp;Fannie Mae&nbsp;and&nbsp;Freddie Mac. These lenders (and various others) often buy and package these loans, then sell them as securities on the&nbsp;secondary market.&nbsp;However, loans that are sold on the secondary market must meet specific guidelines to be classified as conforming loans.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-21\">The maximum conforming loan limit&nbsp;for a&nbsp;conventional mortgage in 2022 is $647,200, although it can be more for&nbsp;designated high-cost areas. A loan made above this amount&nbsp;is called a&nbsp;jumbo loan, which usually carries a slightly higher interest rate. These loans carry more&nbsp;risk&nbsp;(since they involve more money), making them less attractive to the&nbsp;secondary market.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For nonconforming loans, the lending institution that is underwriting the loan, usually a&nbsp;portfolio lender, sets&nbsp;its own&nbsp;guidelines. Due to regulations, nonconforming loans cannot be sold on the secondary market.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-25\"><strong>Federal Housing Administration (FHA) Loans</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-26\">The&nbsp;Federal Housing Administration (FHA), part of the U.S.&nbsp;Department of Housing and Urban Development (HUD), provides various mortgage loan programs for Americans. An FHA loan has lower down payment requirements and is easier to qualify for than a conventional loan. FHA loans are excellent for first-time homebuyers because, in addition to lower up-front loan costs and less stringent credit requirements, you&nbsp;can make&nbsp;a&nbsp;down payment&nbsp;as low as 3.5%. FHA loans cannot exceed the statutory limits described above.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-28\">However, all FHA borrowers must pay a&nbsp;mortgage insurance premium, rolled into their mortgage payments.&nbsp;Mortgage insurance&nbsp;is an insurance policy that protects a mortgage lender or titleholder if the borrower&nbsp;defaults&nbsp;on payments, passes away, or is otherwise unable to meet the contractual obligations of the mortgage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-30\"><strong>U.S. Department of Veterans Affairs (VA) Loans</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-31\">The U.S.&nbsp;Department of Veterans Affairs (VA)&nbsp;guarantees&nbsp;VA loans. The VA does not make loans itself but guarantees mortgages&nbsp;made by qualified lenders. These guarantees allow veterans to obtain home loans with favorable terms (usually without a down payment).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-33\">In most cases, VA loans are easier to qualify for than conventional loans. Lenders generally limit the maximum VA loan to conventional mortgage loan limits.&nbsp;Before applying for a loan, you’ll need to request your eligibility from the VA. If you are accepted, the VA will issue a certificate of eligibility that you can use to apply for&nbsp;a loan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-35\">In addition to these federal loan types and programs, state and local governments and agencies sponsor assistance programs to&nbsp;increase&nbsp;investment or homeownership in certain areas.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-37\">Equity and Income Requirements</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-38\">Home mortgage loan pricing&nbsp;is determined by the lender in two ways, and both methods are based on the&nbsp;creditworthiness of the borrower. In addition to checking your&nbsp;FICO score&nbsp;from the&nbsp;three major credit bureaus, lenders will calculate the&nbsp;loan-to-value (LTV) ratio&nbsp;and the&nbsp;debt-service coverage ratio (DSCR)&nbsp;to determine the amount that they’re willing to loan to you, plus the interest rate.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">LTV is the amount of actual or implied equity that is available in the&nbsp;collateral&nbsp;being borrowed against. For home purchases, LTV is determined by dividing the loan amount&nbsp;by the&nbsp;purchase price&nbsp;of the home.&nbsp;Lenders assume that&nbsp;the more money you are putting up (in the form of a down payment), the less likely you are to default on the loan. The higher the LTV, the greater the risk of default, so lenders will charge more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For this reason, you should include any type of qualifying income that you can when negotiating with a mortgage lender. Sometimes an extra part-time job or other income-generating business can make the difference between qualifying or not qualifying for a loan, or in receiving the best possible rate. A&nbsp;mortgage calculator&nbsp;can show you the impact of different rates on your monthly payment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-46\">Private Mortgage Insurance (PMI)</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-47\">LTV also determines&nbsp;whether you&nbsp;will be required to purchase the PMI mentioned earlier. PMI helps to insulate the lender from default by transferring a portion of the loan risk to a mortgage insurer. Most lenders require PMI for any loan with an LTV greater than 80%. This translates to any loan in which you&nbsp;own&nbsp;less than 20% equity in the home.<sup>8</sup>&nbsp;The amount being insured and the mortgage program will determine&nbsp;the&nbsp;cost of mortgage insurance and how it’s collected.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-49\">Most mortgage&nbsp;insurance premiums&nbsp;are collected monthly, along with tax and property insurance&nbsp;escrows. Once&nbsp;LTV is equal to or less than 78%, PMI is supposed to be eliminated automatically. You&nbsp;may also be able to&nbsp;cancel PMI once the home has appreciated enough in value to give you&nbsp;20%&nbsp;home equity&nbsp;and a set period has passed, such as two years.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-51\">Some lenders, such as the FHA, will assess the mortgage insurance as a lump sum and capitalize it into the loan amount.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Important: As a rule of thumb, try to avoid PMI because it is a cost that has no benefit to you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-55\">There are ways to avoid paying for PMI. One is not to borrow more than 80% of the property value when purchasing a home; the other is to use home equity financing or a&nbsp;second mortgage&nbsp;to put down more than 20%.&nbsp;The most common program&nbsp;is called an&nbsp;80-10-10 mortgage. The 80 stands for the LTV of the first mortgage, the first 10 stands for the LTV of the second mortgage, and the second 10 represents your home equity.<sup>10</sup></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-57\">The rate on the second mortgage will be higher than the rate on the first mortgage, but on a blended basis, it should not be much higher than the rate of a 90% LTV loan. An 80-10-10 mortgage can be&nbsp;less expensive than&nbsp;paying for PMI. It&nbsp;also allows you to accelerate the&nbsp;payment of the second mortgage and eliminate that portion of the debt quickly so you can pay off your home&nbsp;early.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-59\">Fixed-Rate Mortgages vs. Floating-Rate Mortgages</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-60\">Another consideration is whether to obtain a fixed-rate or floating-rate (also called a variable-rate) mortgage. In a&nbsp;fixed-rate mortgage,&nbsp;the rate does not change for the entire period of the loan. The obvious benefit of getting a fixed-rate loan is that you know&nbsp;what the monthly loan costs will be for the entire loan period. And, if prevailing interest rates are low, then you’ve locked in a good rate for a substantial time.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-62\">A&nbsp;floating-rate mortgage, such as an&nbsp;interest-only mortgage&nbsp;or an&nbsp;adjustable-rate mortgage (ARM), is designed to assist first-time homebuyers or people who expect their incomes to rise substantially over the loan period. Floating-rate loans usually allow you to obtain lower introductory rates during the first few years of the loan, which allow you to qualify for more money than if you had tried to get a more expensive fixed-rate loan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-64\">Of course, this option can be risky if your income does not grow in step with the increase&nbsp;in&nbsp;interest rate. The other downside is that the path of market interest rates is uncertain: If they dramatically rise, then your loan’s terms will skyrocket with them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-66\">How Adjustable-Rate Mortgages (ARMs) Work</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-67\">The most common types of ARMs are for one-, five-, or seven-year periods. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-67\">The&nbsp;initial interest rate&nbsp;is normally fixed for a period of time and then resets&nbsp;periodically, often every month. Once an ARM resets, it adjusts to the market rate, usually by adding some predetermined spread (percentage) to the prevailing U.S.&nbsp;Treasury&nbsp;rate.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-69\">Although the increase&nbsp;is typically&nbsp;capped, an ARM adjustment can be&nbsp;more expensive than the prevailing fixed-rate mortgage loan to compensate the lender for offering&nbsp;a lower rate during the introductory period.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-71\">Interest-only loans are a type of ARM in which you only pay&nbsp;mortgage&nbsp;interest&nbsp;and not&nbsp;principal&nbsp;during the introductory period until the loan reverts to a fixed, principal-paying loan. Such loans can be very advantageous for first-time borrowers because only paying interest significantly decreases the monthly cost of borrowing and will allow you to qualify for a much larger loan. However, because you pay&nbsp;no principal during the initial period, the balance due on the loan does not change until you&nbsp;begin&nbsp;to repay the principal.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-73\">The DSCR determines your&nbsp;ability to pay&nbsp;the mortgage. Lenders&nbsp;divide your&nbsp;monthly net income&nbsp;by the mortgage costs to&nbsp;assess the probability that you&nbsp;will default on the mortgage. Most lenders will require DSCRs of greater than one. The greater the ratio, the greater the probability that you will be able to cover borrowing costs and the less risk that the lender assumes. The greater the DSCR, the more likely that a lender will negotiate the loan rate; even at a lower rate, the lender receives a better&nbsp;risk-adjusted return.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Warning: Mortgage lending discrimination is illegal.&nbsp;If you think that you’ve been discriminated against&nbsp;based on race, religion, sex, marital status, use of public assistance, national origin, disability, or age, there are steps that you can take. One such step is to file a report with either the&nbsp;Consumer Financial Protection Bureau (CFPB)&nbsp;or&nbsp;HUD.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-77\">Specialty Programs for First-Time Homebuyers</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-78\">In addition to all of the traditional sources of funding, there are several&nbsp;specialty programs&nbsp;for first-time homebuyers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-80\">ReadyBuyer</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-81\">The Federal National Mortgage Association’s (Fannie Mae’s) HomePath Ready Buyer program is designed for first-time buyers and provides up to 3% assistance toward closing costs on the purchase of a&nbsp;foreclosed&nbsp;property owned by Fannie Mae. To be eligible for the program, interested buyers have to complete a mandatory&nbsp;home-buying education course&nbsp;prior to making an offer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-83\">Individual Retirement Accounts (IRAs)</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-84\">Every first-time homebuyer is eligible to take up to $10,000 out of a&nbsp;traditional individual retirement account (IRA)&nbsp;without paying the 10% penalty for early withdrawal. The limit is per individual, so a couple could withdraw up to $10,000 each from their own IRAs for a total of $20,000 to put down. If a homebuyer wants to withdraw up to $10,000 for a home purchase from a&nbsp;Roth IRA, they can do so without penalty, as long as they’ve had the Roth account for at least five years. Note that this only exempts you from the penalty for early withdrawal. If you withdraw from a traditional IRA, you will still have to pay income tax on the money withdrawn.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-86\">Down Payment Assistance Programs</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-87\">Many states have down payment assistance programs for first-time buyers. Eligibility varies from state to state, but generally, these programs are geared toward lower-income individuals and public servants. HUD maintains a list of programs for each state.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What Credit Score is Needed to Buy a House?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Most conventional mortgages require a credit score of 620 or greater. However,&nbsp;Federal Housing Administration (FHA) loans&nbsp;can accept a credit score as low as 500 with a 10% down payment, or as low as 580 with a 3.5% down payment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What is the Average Interest Rate for a First-Time Homebuyer?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Interest rates depend on a variety of factors, including credit scores, down payment percentage, type of loan, and market conditions. There is no data to indicate that first-time homebuyers with similar&nbsp;creditworthiness&nbsp;and circumstances pay higher or lower interest rates than experienced homebuyers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Are There Any State Tax Credits for First-Time Homebuyers?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">While the first-time homebuyer tax credit was eliminated at the federal level in 2010, several states still offer state tax credits for first-time homebuyers. Additionally, some municipalities and counties offer property tax reductions for first-time homebuyers in their first year. Check with a local&nbsp;tax professional&nbsp;to see what you may be eligible for in your area.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-95\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-96\">If you’re&nbsp;looking for&nbsp;a home mortgage&nbsp;for the first time, you may find it difficult to sort through all the financing options. Take&nbsp;time to decide&nbsp;how much home you can actually afford and then finance accordingly. If you can afford to put down a substantial amount or have enough income to create a low LTV, then you will have more negotiating power with lenders and the most financing options. If you push for the largest loan, then you may be offered a higher risk-adjusted rate and private mortgage insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-98\">Weigh the benefit of obtaining a larger loan with the risk. Interest rates typically&nbsp;float&nbsp;during the interest-only period and will often adjust in reaction to changes in market interest rates. Also, consider&nbsp;the risk that your&nbsp;disposable income&nbsp;won’t rise along with the possible increase in borrowing costs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-100\">A good&nbsp;mortgage broker&nbsp;or&nbsp;mortgage banker&nbsp;should be able to help steer you through all the different programs and options, but nothing will serve you better than knowing your priorities for a mortgage loan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.investopedia.com/articles/mortgages-real-estate/08/homebuyer-financing-option.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Financing Basics for First-Time Homebuyers','','inherit','closed','closed','','2300-revision-v1','','','2022-04-26 15:32:54','2022-04-26 15:32:54','',2300,'http://smartinsurance.tips/?p=2436',0,'revision','',0),(2437,1,'2022-04-26 15:36:16','2022-04-26 15:36:16','','Productivity','','inherit','open','closed','','productivity-3','','','2022-04-26 15:36:16','2022-04-26 15:36:16','',2303,'http://smartinsurance.tips/wp-content/uploads/2022/04/Productivity.png',0,'attachment','image/png',0),(2438,1,'2022-04-26 15:36:29','2022-04-26 15:36:29','<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">High-performing employees are worth their weight in gold.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">High-performing employees’ have outstanding skills that distinguish them from their mediocre colleagues in the workplace. With a willingness to go above and beyond what is written in their job description, high performers keep the work flowing smoothly. But that’s not all -- they follow directions enthusiastically and are not afraid of challenges. What’s more, they exhibit creative thinking and leadership qualities, especially when decision-making is required. Striving to constantly develop new and existing skills&nbsp;increases their overall performance within the company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":2437,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Productivity-1024x536.png\" alt=\"\" class=\"wp-image-2437\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Managers with high-performing employees can rest assured knowing that these workers will exceed their expectations. Their unmatched skills set them apart from others. In fact, Apple and Google have stated that there is a&nbsp;huge gap between high performers and average employees.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>1. Initiative and self-direction.</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Instead of depending on managers or supervisors for direction, the high performer will carry out their own research. Self-direction drives them to seek apt information for completing a project. This could mean contacting others within the organization who has fitting knowledge. Better still, they’re prepared to attend conferences, sign up to training programs, read edifying books and even attend evening classes if required. Using initiative, they will boldly try new ways of working and take on more responsibilities to develop their career path.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>2. Feedback to develop performance.</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Being open to feedback and taking it constructively is crucial to the growth of an employee and their organization.&nbsp;High performers use feedback to evaluate their efficiency&nbsp;and look for areas where they can make an improvement. Therefore, they will actively seek feedback about their performance from management or supervisors&nbsp;to ensure they are always on track. In addition, feedback from other departments will provide scope for developing fresh, innovative ideas for the organization.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>3. Problem-solving at its best.</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"We can\'t solve problems by using the same kind of thinking we used when we created them.\"&nbsp; -- Einstein</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Fresh challenges present an opportunity for high performers to showcase their problem-solving skills. Instead of dodging complicated tasks, they seek various diagnostic methods such as asking questions, exploring the issue, reading case studies or even calling for emergency team meetings. They use a systematic approach. First, identify the challenge, then look at alternatives, followed by deciding on the best approach and lastly executing the most suitable solution.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>4. Time management to avoid slacking.</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Managing time effectively can save an organization money. High-performing employees are aware that time is money and put that understanding into practice. You won’t find them wasting work time on social media, procrastinating or turning up late in the mornings. They are dedicated to performing at their highest levels to get things done on or before the scheduled time. Handling time well could also mean negotiating less urgent tasks to other colleagues in the department.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>5. A personalized system developed for order.</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Staying focused is crucial for outstanding performance. A high-performing employee will develop a system for keeping their workday organized. And this starts with a clear, clutter-free desk. One principal factor that will reduce stress and tiredness is&nbsp;taking frequent breaks&nbsp;during the day.&nbsp; Other methods helping them stay on top are regular routines, using a checklist, developing a functional filing system,&nbsp;managing incoming emails&nbsp;and even keeping a work journal.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>6. A positive mindset to promote good energy.</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Having a positive mindset doesn’t necessarily mean the workday will flow without problems. But having the right attitude is key for knowing how to look on the bright side and deal with issues constructively. This thinking helps high-performers excel in the workplace. They have an air of excitement, produce superior work and outperform the employee with a negative outlook. Not only that, colleagues prefer to be around the person who is full of energy, optimistic and always engaged with their work. In contrast, a pessimistic employee dampens the atmosphere and moods of those around him.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>7. Healthy working relationships and networking skills.</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Building relationships is important to high performers because of their lean toward&nbsp;like-minded people. As a result, they develop strong networking skills by connecting with other sources to gather information and worthwhile knowledge for their organization, when needed. This performance constantly grows their networking relations and provide easy access to contacts inside and outside of the workplace. In short, the high performer\'s innovative attitude benefits the organization who will be more than willing to invest in their personal development. This, in turn, will add more value to their skills.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">To sum up, high-performing employees are worth their weight in gold. Their exceptional skills push them to continually perform at optimum levels to achieve superior results. Not only do they contribute to the bottom line and productivity of any organization, they are also on a successful career path.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.entrepreneur.com/article/310468\">click here.</a></p>\n<!-- /wp:paragraph -->','7 Traits of Supremely Productive Employees','','inherit','closed','closed','','2303-revision-v1','','','2022-04-26 15:36:29','2022-04-26 15:36:29','',2303,'http://smartinsurance.tips/?p=2438',0,'revision','',0),(2439,1,'2022-04-26 15:37:18','2022-04-26 15:37:18','','Small-Biz','','inherit','open','closed','','small-biz-2','','','2022-04-26 15:37:18','2022-04-26 15:37:18','',2306,'http://smartinsurance.tips/wp-content/uploads/2022/04/Small-Biz.png',0,'attachment','image/png',0),(2440,1,'2022-04-26 15:37:31','2022-04-26 15:37:31','<!-- wp:image {\"id\":2439,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Small-Biz-1024x536.png\" alt=\"\" class=\"wp-image-2439\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Looking for funding? Find out how to finance your startup without a traditional bank.</h2>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Venture capitalists can provide funding, networking and professional guidance to launch your business rapidly.</li><li>Generally, angel investors don\'t ask for any company shares or claim to be stakeholders of your business.</li><li>Businesses focused on science or research may receive grants from the government.</li><li><strong>This article is for small business owners who need information on alternatives to traditional bank loans.</strong></li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Starting your own company can be a daunting but rewarding process. While a great business plan is crucial for founders, financing is one of the most important elements a company needs to succeed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">However, financing a startup or small business can be a difficult, drawn-out process, especially for those with poor credit. While there is no minimum credit score you must have to&nbsp;get a business loan, traditional lenders have a range they usually consider acceptable.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you have a low credit score and no collateral to offer, consider an alternative loan. In this article, we break down 11 small business funding options, examine the benefits of alternative lending and provide tips on how to finance your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"why-is-it-difficult-for-small-businesses-to-get-loans-from-banks\">Why is it difficult for small businesses to get loans from banks?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Capital is difficult for small businesses to access for several reasons. It\'s not that banks are against lending to small businesses – they want to – but traditional financial institutions have an outdated, labor-intensive lending process and regulations that are unfavorable to local shops and small organizations.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The difficulty of accessing capital is exacerbated because many small businesses applying for loans are new, and banks typically want to see at least a five-year profile of a healthy business (for instance, five years of tax data) before extending an offer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"what-is-alternative-financing\">What is alternative financing?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Alternative financing is any method through which business owners can acquire capital without the assistance of traditional banks. Generally, if a funding option is based entirely online, it is an alternative financing method. By this definition, options such as crowdfunding, online loan providers and cryptocurrency qualify as alternative financing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"why-might-small-businesses-seek-alternative-financing\">Why might small businesses seek alternative financing?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">There are several reasons why small business owners might turn to business loan alternatives. Here are three of the most common.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Lower credit requirements:</strong>&nbsp;Traditional banks are almost certain to decline loans to borrowers with credit scores below a certain threshold that, though different for each loan provider, is often between 600 and 650.</li><li><strong>Easier qualification:</strong>&nbsp;Not all small business owners meet the additional requirements to apply and be approved for traditional loans. In these cases, business loan alternatives are helpful.</li><li><strong>Faster approval:</strong>&nbsp;Traditional bank loans can take weeks to be approved, whereas some business loan alternatives give you access to funding in as little as one week.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"business-financing-options-without-a-traditional-bank\">Business financing options without a traditional bank</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If your small business needs capital but&nbsp;doesn\'t qualify&nbsp;for a traditional bank loan, certain alternative financing methods and lenders may meet your needs. Here are some of the top financing options for startups and small businesses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">1. Community development finance institutions</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">There are thousands of nonprofit community development finance institutions (CDFIs) across the country, all providing capital to small business and microbusiness owners on reasonable terms, according to Jennifer Sporzynski, senior vice president for business and workforce development at Coastal Enterprises Inc<a href=\"https://www.ceimaine.org/\">.</a>&nbsp;(CEI).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"A wide variety of applications for loans come across our desk every week, many of them from ambitious startups,\" Sporzynski said. \"As a mission-oriented non-bank lender, we know from experience that many viable small businesses struggle to access the capital they need to get started, thrive and grow.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Lenders like CEI differ from banks in a few ways. First, many lenders look for a certain credit score, and that rules out a lot of startups. If banks see \"poor credit,\" that business will almost always end up in the \"no\" pile. CDFI lenders look at credit scores, too, but in a different way.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"We look for borrowers who have been fiscally responsible, but we understand that unfortunate things happen to good people and businesses,\" Sporzynski said. \"We seek to understand what happened and assess its relevance.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For instance, personal or family medical issues and job losses can all negatively impact a borrower\'s accounting, but those can all be explained. Also, CDFI lenders do not need nearly as much collateral as a traditional bank would. Other things can compensate for a lack of&nbsp;assets to be used as collateral.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">2. Venture capitalists</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Venture capitalists (VCs) are an outside group that takes part ownership of the company in exchange for capital. The percentages of ownership to capital are negotiable and usually based on a company\'s valuation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"This is a good choice for startups who don\'t have physical collateral to&nbsp;serve as a lien&nbsp;to loan against for a bank,\" said Sandra Serkes, CEO of Valora Technologies. \"But it is only a fit when there is a demonstrated high growth potential and a competitive edge of some kind, like a patent or captive customer.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The benefits of a VC are not all financial. The relationship you establish with a VC can provide an abundance of knowledge, industry connections and a clear direction for your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"A lot of entrepreneurs lack the skills needed to grow a business, and even though they can make money through sales, understanding how to grow a company will always be a lost cause in the beginning,\" said Chris Holder, author of&nbsp;<em>Tips to Success</em>&nbsp;and CEO and founder of the $100 Million Run Group. \"The guidance from an experienced investor group is the best thing, as the mentorship is key for everyone.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Did you know?</strong>&nbsp;The benefits of a VC are not all financial. The relationship you establish with a VC can provide an abundance of knowledge, industry connections and a clear direction for your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">3. Partner financing</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">With strategic partner financing, another player in your industry funds the growth in exchange for special access to your product, staff, distribution rights, ultimate sale or some combination of those items. Serkes said this option is usually overlooked.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"Strategic funding acts like venture capital in that it is usually an equity sale – not a loan – though sometimes it can be royalty-based, where the partner gets a piece of every product sale,\" she added.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Partner financing is a good alternative because the company you partner with is usually going to be a large business and may even be in a similar industry, or an industry with an interest in your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"The larger company typically has relevant customers, salespeople and marketing programming that you can tap right into, assuming your product or service is a compatible fit with what they already offer, which would surely be the case or there would be no incentive for them to invest in you,\" Serkes said.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">4. Angel investors</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Many think that&nbsp;angel investors&nbsp;and&nbsp;venture capitalists&nbsp;are the same, but there is one glaring difference. While a VC is a company (usually large and established) that invests in your business by trading equity for capital, an angel investor is an individual who is more likely to invest in a startup or early-stage business that may not have the demonstrable growth a VC would want.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Finding an angel investor can also be good in a similar way to gaining funding from a VC, albeit on a more personal level.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"Not only will they provide the funds, [but] they will usually guide you and assist you along the way,\" said Wilbert Wynnberg, an entrepreneur and speaker based in Singapore. \"Remember, there is no point in borrowing money just to lose it later. These experienced businesspeople can save you tons of money in the long run.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">5. Invoice financing or factoring</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">With invoice financing, also known as&nbsp;factoring, a service provider fronts you the money on your outstanding accounts receivable, which you repay once customers settle their bills. This way, your business has the cash flow it needs to keep running while you wait for customers to pay their outstanding invoices.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Eyal Shinar, CEO of small business&nbsp;cash flow management&nbsp;company Fundbox, said these advances allow companies to close the pay gap between billed work and payments to suppliers and contractors.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"By closing the pay gap, companies can accept new projects more quickly,\" Shinar said. \"Our goal is to help business owners grow their businesses and hire new workers by ensuring steady cash flow.\"&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">6. Crowdfunding</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Crowdfunding&nbsp;on platforms such as Kickstarter and Indiegogo can give a financial boost to small businesses. These platforms allow businesses to pool small investments from several investors instead of seeking out a single investment source.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"As an entrepreneur, you don\'t want to spend your investment options and increase the risk of investing in your business at such an early age,\" said Igor Mitic, co-founder of Fortunly. \"By using crowdfunding, you can raise the necessary seed funds to get your startup through the development phase and ready to be pitched to investors.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Tip:</strong>&nbsp;Read the fine print of equity crowdfunding platforms before choosing one to use. Some platforms charge payment-processing fees or require you to reach your full financial goal in order to keep any of the money you raised.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">7. Grants</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Businesses focused on science or research may receive&nbsp;grants from the government. The U.S. Small Business Administration (SBA) offers grants through the Small Business Innovation Research and Small Business Technology Transfer programs. Recipients of these grants must meet federal research and development goals and have a high potential for commercialization.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">8. Peer-to-peer or marketplace lending</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Peer-to-peer (P2P) lending is an option for raising capital that introduces borrowers to lenders through various websites. Lending Club and Prosper are two of the most notable P2P lending platforms in the U.S.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"In its simplest form, a borrower creates an account on a peer-to-peer website that keeps records, transfers funds and connects borrowers to lenders,\" said Kevin Heaton, CEO and founder of i3. \"It\'s Match.com for money. A key difference is in borrower risk assessment.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">According to the SBA, P2P lending can be a solid financing alternative for small businesses, especially given the post-recession credit market. One drawback of this solution is that P2P lending is available to investors in certain states only.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">This form of lending, made possible by the internet, is a hybrid of crowdfunding and marketplace lending. When platform lending first hit the market, it allowed people with little working capital to give loans to other people – peers. Years later, major corporations and banks began crowding out true P2P lenders with their increased activity. In countries with better-developed financial industries, the term \"marketplace lending\" is more commonly used.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">9. Convertible debt</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Convertible debt is when a business borrows money from an investor or investor group and the collective agreement is to convert the debt to equity in the future.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"Convertible debt can be a great way to finance both a startup and a small business, but you have to be comfortable with ceding some control of the business to an investor,\" said Brian Cairns, CEO of ProStrategix Consulting. \"These investors are guaranteed some set rate of return per year until a set date or an action occurs that triggers an option to convert.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Cairns believes another benefit of convertible debt is that it doesn\'t place a strain on cash flow while interest payments are accrued during the term of the bond. A drawback of this type of financing is that you relinquish some ownership or control of your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">10. Merchant cash advances</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A merchant cash advance is the opposite of a small business loan in terms of affordability and structure. While this is a quick way to obtain capital, cash advances should be a last resort because of their high expense. Many of the&nbsp;top merchant services&nbsp;offer this option, so check with your provider to see if this could be a form of capital to explore</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"A merchant cash advance is where a financial provider extends a lump-sum amount of financing and then buys the rights to a portion of your credit and debit card sales,\" said Priyanka Prakash, lending and credit expert at Fundera. \"Every time the merchant processes a credit or debit card sale, the provider takes a small cut of the sale until the advance is paid back.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Prakash says that while this appears to be convenient, cash advances can be very expensive and troublesome to your company\'s cash flow. If you can\'t qualify for a small business loan or any of the options above, only then should you consider this option.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">11. Microloans</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Microloans (or&nbsp;microfinancing) are small loans given to entrepreneurs who have little to no collateral. Microloans sometimes have restrictions on how you can spend the money, but they typically cover operational costs and working capital for equipment, furniture and supplies. One example of a small business microlender is Kabbage, which offers microloans of $2,000 to $250,000; you can learn more about it in our&nbsp;Kabbage review. Another example are SBA&nbsp;microloans&nbsp;administered by nonprofit organizations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"the-benefits-of-alternative-lending\">The benefits of alternative lending</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Startups can enjoy a few key benefits in securing funding from a nontraditional source, according to Serkes. She believes that with alternative loans, a business owner gets a strong, invested partner who can introduce them to new clients, analysts, media and other contacts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">These are some other benefits of working with a nontraditional lender.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Market credibility:</strong>&nbsp;The startup gets to \"borrow\" some of the goodwill that the strategic partner has built up, and working with an established investor lends weight to the brand.</li><li><strong>Infrastructure help:</strong>&nbsp;The larger partner likely has teams for marketing, IT, finance and HR – all of which are things a startup could \"borrow\" or utilize at a favorable rate.</li><li><strong>Overall business guidance:</strong>&nbsp;It\'s likely the strategic partner will join your board as part of the investment. Remember that they have a wealth of experience in business, so their advice and viewpoint will be invaluable.</li><li><strong>Relatively hands-off partnership:</strong>&nbsp;A strategic partner still has their own business to run, so they are unlikely to be very involved in the day-to-day operations of the startup. Occasional updates on your business, such as monthly or quarterly, are usually sufficient check-ins for them.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">All businesses need working capital to thrive. Without the appropriate business financing options, startup companies are likely to fail. Avoiding the traditional bank loan route might seem like an impossible feat, but there are a plethora of small business financing options readily available for entrepreneurs. Gathering the right market data research and implementing the best financing option for your company increases the chances of your business surviving for the long haul.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"how-can-small-businesses-prepare-to-apply-for-alternative-lending-options\">How can small businesses prepare to apply for alternative lending options?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Applying for financing entails much more than just filling out an application. To increase your chances of getting financing, small business owners should do their homework and have a strategy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Here are five tips to help you prepare your business for financing success:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ol class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Know how much you need to borrow upfront.</strong>&nbsp;When you apply for business loan alternatives, you\'ll likely find that many different loan amounts are available. Don\'t commit to borrowing more than you need; there may be penalties for early repayment or for not using your whole loan.</li><li><strong>Write a business plan with financial projections.</strong>&nbsp;While not all alternative financing providers will demand to see your business plan, many funding sources have this stipulation, so you should prepare your plan now.</li><li><strong>Do market research and know the conditions of your industry.</strong>&nbsp;Lenders may be more likely to approve borrowers in growing industries. As such, if you can prove that your company\'s sector or market primes your business to expand and succeed, present your argument firmly somewhere in your application. It also demonstrates your knowledge as an entrepreneur and business strategist.</li><li><strong>Know your credit score.</strong>&nbsp;Often, a credit score below a certain number is an immediate disqualifier for loan applications, even if your company is primed for rapid growth and you\'re working on repaying your loans. Find out your credit score, and if it is too low, work to improve it before seeking capital.&nbsp;</li><li><strong>Meet with a small business expert and attend training provided through the SBA.</strong>&nbsp;As with any important small business decision, you shouldn\'t go this one alone. Consult experts and seek training on how to apply successfully for the funding your company needs to thrive.</li></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">As a small business owner, you should also establish a strong online presence and pay attention to how your company looks online, because lenders will be reviewing this information, too. Online review sites such as Yelp, Angie\'s List and TripAdvisor help paint a picture of your operations and serve as an indicator of your overall business health. Social connections and customer relationships on social media can also play a role in a lender\'s decision to offer financing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"how-to-find-business-financing-options\">How to find business financing options?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Trying to find financing for your startup can easily turn into a full-time job. From building a network of investors to connecting with other founders, financing is at the heart of any business\'s success, but it can turn into a serious time commitment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">However, by working with the right investors and taking the time to be purposeful in your pitch, you can take important steps toward funding your company. Make no mistake; it will be difficult, but by being precise in your search, you can position yourself for success.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"What I find is when people get lots and lots of rejection and little progress, oftentimes they\'re just talking to the wrong investors,\" said Mike Kisch, founder and CEO of sleep technology company Beddr. \"If they had a better sense as to who the right investor was, they\'d see their success rate go up fairly dramatically.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"warm-introductions\">Warm introductions</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The key to obtaining funding as a startup is the \"warm introduction,\" according to Casey Berman, managing director of VC firm Camber Creek. Berman said startup founders can look to their immediate network to try to find opportunities. While this includes obvious connections – like&nbsp;friends and family&nbsp;or other startup owners – it\'s also important to consider professional services your company is using. If, for example, you work with a legal consultant or PR company, they may be able to help you find funding, he said.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The key, said Berman, is to partner with a company, whether it\'s an investment firm or a payroll processing service, that adds value to your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"The warm introduction goes a lot further than really any other potential avenue,\" he said. \"Any professionals that are surrounding the company should absolutely be the first stop and the first location a company goes to try to have access to venture capital and a warm introduction.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">This is how you can differentiate your startup from its peers. Building a network of individuals that help pull your company up is the best way to give your business the support it needs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">How to target a venture capitalist for business financing?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Venture capital may be the most difficult to secure, primarily because VCs have very specific investment strategies, want to invest for a relatively short period of time (three to five years) and may want to be involved in your business\' operations and decisions. VCs also usually want to invest sums larger than a few million dollars.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Most startups begin with early seed funding from friends and family, angel investors, or accelerators. If you\'re already past this step and are looking for longer-term funding, it\'s important to approach VC firms the right way. Kisch said it\'s crucial to find the right investor for the stage your business is in. There are thousands of VC firms out there, so think critically about your business and which investors make the most sense.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"Finding the right investor who is at the right stage of where your company is but [that] also has some exposure to the environment that you\'re going to be in – I think that\'s the best way that you\'re going to have a productive relationship,\" Kisch said.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Once you\'ve developed a shortlist of VCs that invest in your space and can provide the level of guidance and added value you\'re looking for, it\'s time to set up a formal process.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">With your list in hand, Berman recommends spending one to two weeks trying to make that initial contact with the company. Once you\'ve made contact, keep the company up to date on business developments and other information that are relevant to that investor. This ongoing conversation can help you build relationships with investors. When it\'s time to raise funding, you\'ll have to pitch the VC firms you\'ve been in constant communication with.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"The CEO really needs to commit to raising money and doing what\'s called a roadshow to get in front of a large number of venture funds to find the right partner,\" Berman said.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Berman said the whole process, from initial meetings to closing a deal, can take anywhere from 60 to 90 days, or even longer, so plan accordingly. He also recommended looking for funding well before your business will need it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">How to stay motivated?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">One of the biggest variables throughout this process is motivation. For a startup, rejection is part of the journey. Staying motivated during trying times can be difficult, but it will be the backbone of your business\'s success.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Kisch has been through five rounds of funding with various startups he\'s worked for. He said one thing that has been helpful for him throughout the screening process is that he has tried to maintain low expectations so that rejection doesn\'t overwhelm him. Rather than seeing it as a failure, Kisch sees rejection as part of the process.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"If someone says no, I just think, \'That\'s cool, I guess I\'m just one step closer to a yes,\'\" he said.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The other takeaway from rejection is how you adapt and respond. Kisch said that a stream of critical feedback allows you to better your product and hone your pitching skills.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">He said a good way to think about it is you\'re not getting rejected because your idea or product is bad; it\'s because it can be slightly improved or you haven\'t developed the&nbsp;skills to pitch&nbsp;it in the most effective way. This keeps the responsibility in your hands without adding any pressure. Everything is a work in progress, and even today\'s most successful companies had to deal with challenges at one point.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"Raising money from people is a very difficult thing,\" he said. \"You just have to sort of roll with it and be aware that there are a lot of companies that were initially rejected that became generation-defining companies.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.businessnewsdaily.com/1733-small-business-financing-options-.html\">click here.</a></p>\n<!-- /wp:paragraph -->','Small Business Financing Options That Bypass Traditional Banks','','inherit','closed','closed','','2306-revision-v1','','','2022-04-26 15:37:31','2022-04-26 15:37:31','',2306,'http://smartinsurance.tips/?p=2440',0,'revision','',0),(2441,1,'2022-04-26 15:38:19','2022-04-26 15:38:19','','Insurance-1','','inherit','open','closed','','insurance-1-2','','','2022-04-26 15:38:19','2022-04-26 15:38:19','',2309,'http://smartinsurance.tips/wp-content/uploads/2022/04/Insurance-1.png',0,'attachment','image/png',0),(2442,1,'2022-04-26 15:38:24','2022-04-26 15:38:24','<!-- wp:image {\"id\":2441,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Insurance-1-1024x536.png\" alt=\"\" class=\"wp-image-2441\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The average cost for homeowners insurance across the U.S. is $1,251 per year, or $104.25 per month, according to&nbsp;National Association of Insurance Commissioners data.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">This figure has been on the rise in recent years. That’s because of an increase in home repair and rebuilding costs, higher catastrophe losses due to extreme weather, and more people relocating to disaster-prone areas.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Your actual cost of homeowners insurance can vary widely based on the specific type of policy you choose, your location, and a host of other factors.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>Factors that affect the cost of homeowners insurance</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Your quote for a&nbsp;homeowners insurance&nbsp;premium takes many factors into account, including:&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Age of the home —</strong>&nbsp;Newer homes may have lower insurance costs than older homes. If a home is particularly old, you may struggle to find adequate coverage.</li><li><strong>Type of construction —</strong>&nbsp;Your house’s construction style can affect its risk of being damaged in a fire or storm. Frame houses, for example, may be more expensive to insure than brick homes.</li><li><strong>Location —</strong>&nbsp;The setting of your home can affect the price of insurance in either direction. For example, homes in urban areas may face a higher risk of crime, but have better fire protection services — while homes in rural areas may have the opposite dynamic. The quality of your area’s fire department is particularly important to homeowners insurance companies. Your city may have a fire protection class rating that insurers use to set prices.</li><li><strong>Deductible —</strong>&nbsp;A deductible is the amount you pay toward a repair before insurance kicks in. The higher your deductible, the lower your premium tends to be, but the more money you pay out of pocket when you file a claim.</li><li><strong>Amount of insurance coverage —</strong>&nbsp;You’ll want to buy enough insurance to cover the cost of replacing your home in the event of a total loss, making your total coverage highly dependent on real estate and construction costs. The more coverage you need, the higher&nbsp;price you’ll pay.</li><li><strong>Risk of natural disasters —</strong>&nbsp;Certain parts of the country are more prone to disasters like hurricanes, brush fires, and tornadoes. These areas may require you to pay higher premiums.</li><li><strong>Local laws and regulations —</strong>&nbsp;Homeowners insurance is heavily regulated, with rules varying from state to state that can affect insurance costs. Certain states may require specific levels of coverage, which can increase your cost.</li><li><strong>Your claim history —</strong>&nbsp;If you’ve filed numerous homeowners insurance claims in the past, you may face higher costs when you renew or purchase a new policy. This can happen even if the claims you filed weren’t your fault.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>What are the most expensive states for homeowners insurance?</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The most expensive states for homeowners insurance all lie on the Gulf Coast, an area at particular risk for hurricanes. All three states have been hit hard recently, with homeowners incurring billions in damages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Florida —</strong>&nbsp;$1,954 average annual premium, or $162.83 per month</li><li><strong>Louisiana —</strong>&nbsp;$1,906 average annual premium, or $158.83 per month</li><li><strong>Texas —</strong>&nbsp;$1,878 average annual premium, or $156.50 per month</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>What are the least expensive states for homeowners insurance?</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The three states with the least expensive homeowners insurance aren’t&nbsp;in areas traditionally prone to hurricanes or tornadoes. Their premiums are less than half the average premiums in the most expensive states.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Oregon —</strong>&nbsp;$731 average annual premium, or $60.92 per month</li><li><strong>Utah —</strong>&nbsp;$737 average annual premium, or $61.42 per month</li><li><strong>Idaho —</strong>&nbsp;$787 average annual premium, or $65.58 per month</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>Average cost of homeowners insurance by coverage amount</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Homeowners insurance policies generally have a&nbsp;dwelling coverage limit, or the maximum amount an insurance company will pay out to repair or replace a damaged house. More-expensive homes require you to buy a higher dwelling coverage limit, which can have a major effect on your premium.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Here’s the average cost of homeowners insurance by coverage amount, according to the National Association of Insurance Commissioners:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image -->\n<figure class=\"wp-block-image\"><img src=\"https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/03/931/523/CREDIBLE_USE_ONLY_cost-of-homeowners-insurance-by-coverage-amount.png?ve=1&amp;tl=1\" alt=\"\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>How to lower the cost of homeowners insurance</strong>?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If any of the average prices give you sticker shock, keep in mind that it’s possible to lower the cost when you&nbsp;buy homeowners insurance. Consider these strategies:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Bundle multiple insurance policies.</strong>&nbsp;You may have a number of different insurance policies, including auto insurance, life insurance, and business insurance. Some insurance companies may give you discounts if you choose to have multiple policies with the same company, which is called bundling.</li><li><strong>Take advantage of discounts.</strong>&nbsp;Some insurers will give you a discount on your policy if you do things like install a security system or sprinkler system.</li><li><strong>Increase your deductible.</strong>&nbsp;The higher your deductible, the more you\'ll pay out of pocket if you file a claim — but the lower your insurance premium will be.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\"><strong>Homeowners insurance FAQs</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Read on for the answers to a few of the most common questions people have about homeowners insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Why does homeowners insurance go up?</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The cost of your homeowners insurance may rise over time for a variety of reasons, and some of them are specific to your home. Your homeowners insurance may also get more expensive as your home ages, for example, since older homes tend to be more at risk of damage. You may face a higher premium if you have a history of filing homeowners insurance claims, even if they’re for issues that weren’t your fault.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Plus, factors beyond your home can influence rising prices. One of them is inflation: The price of construction, materials, and other items you’d need to repair or replace your home goes up over time, so your insurance does too. Your policy may automatically increase its coverage (and likely its cost) to keep up with overall inflation. Homeowners insurance rates may also go up in your area if your town has been hit by an unusual number of natural disasters or other catastrophes recently.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Does homeowners insurance affect your mortgage payment?</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Yes, in a way. You typically won’t pay your homeowners insurance company directly for your policy. Instead, you’ll pay for your homeowners insurance as part of your monthly mortgage payment, with your lender holding the money in an escrow account and making the premium payments on your behalf. This allows the lender to ensure your homeowners insurance is paid on time, protecting its investment as well as your own. If the cost of your&nbsp;homeowners insurance goes up, so will your mortgage payment.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>What’s not covered by homeowners insurance?&nbsp;</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Homeowners insurance policies generally spell out&nbsp;when damage to your home will be covered&nbsp;and when it won’t. (It usually depends on what caused the damage.) In most cases, your policy will cover damage from fire or storms but won’t cover flood damage or earthquakes. Your policy may or may not cover damage from hailstorms or windstorms.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Wear and tear is generally not covered under a homeowners insurance policy. Your vehicles generally aren’t covered, even if they’re damaged in an event that also damages your house, and your pets aren’t covered either.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You can usually see what’s not covered under your policy in the \"exclusions\" section, or you can speak with your insurance agent to find out.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.foxbusiness.com/personal-finance/cost-of-homeowners-insurance\">click here.</a></p>\n<!-- /wp:paragraph -->','What’s the average cost of homeowners insurance?','','inherit','closed','closed','','2309-revision-v1','','','2022-04-26 15:38:24','2022-04-26 15:38:24','',2309,'http://smartinsurance.tips/?p=2442',0,'revision','',0),(2443,1,'2022-04-26 15:39:25','2022-04-26 15:39:25','','Insurance-2','','inherit','open','closed','','insurance-2-2','','','2022-04-26 15:39:25','2022-04-26 15:39:25','',2312,'http://smartinsurance.tips/wp-content/uploads/2022/04/Insurance-2.png',0,'attachment','image/png',0),(2444,1,'2022-04-26 15:39:32','2022-04-26 15:39:32','<!-- wp:image {\"id\":2443,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Insurance-2-1024x536.png\" alt=\"\" class=\"wp-image-2443\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Event planning insurance operates on a principle familiar to top-notch event planners: Plan for the best, but always be prepared for the worst.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You already do this. Thanks to your careful wedding planning, for example, the bride’s dress is perfect on the big day. But when a small dog plants its grassy paws on the dress during pictures, your otherwise-invisible preparation saves the day. You open your go-bag for white towels, a stain stick, rubbing alcohol, baby powder, and chalk—and erase the mark in moments.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Event planning insurance operates on the same principle. The unforeseen can happen despite the best possible planning. Having insurance all zipped up in your ‘go-bag’ means that you are prepared and protected—no matter the unwanted circumstances impacting your business and events. Read on to learn the types of insurance you may need and the protection they provide.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Discover the event planning insurance your business needs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>1. Event planning liability insurance</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Liability insurance protects you financially if you’re sued for personal injury or property damage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">With liability insurance, if a guest or worker gets hurt or someone’s valuable possessions are damaged at your event, a lawsuit over these issues won’t drain every cent from your coffers and put you out of business. A liability insurance policy covers lawyers’ fees and any money awarded to the plaintiff.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Consider a client’s garden party where a glass pitcher of water slipped and shattered on the tile floor—not an accident you could lose your business over. But while you grabbed towels to soak up the water and an employee swept up the glass, a guest slipped in the water, fell, and broke his wrist in several places. This guest could feasibly come after your business to recoup his medical expenses.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Or, let’s say you caught that tilting pitcher of water just before it fell—but knocked over a valuable marble statue in the process. Your client might not want to swallow the lost value of that statue, opting instead to recoup it from your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">It’s your responsibility to take every precaution to ensure a safe event, such as following best practices for event safety and&nbsp;layout design, but an event completely free of risks is impossible. Liability insurance covers you when rare accidents happen.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Corporate event planners have legal teams to ensure proper coverage at all times and for various events. However, if you run your own business, you need to&nbsp;be your own legal team. Look into event planning liability insurance, as a protection for your business and to ensure you can work with the many venues that require the coverage. Like the cost of car insurance, it’s an expense that is well worth it when you consider the alternatives.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>2. Event planning professional liability insurance</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Professional liability insurance protects you financially if you’re sued by clients who are dissatisfied with your work. This type of insurance is sometimes called ‘errors and omissions insurance’, and in some industries it’s called ‘malpractice insurance’.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">It’s important to understand that a lawsuit can drain your company’s funds equally effectively whether or not you are at fault for a mistake, and whether or not the suit has merit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For example, let’s say a client just didn’t like your work: the balloons were the wrong shade of mauve and they file a lawsuit claiming you didn’t fulfill your contractual obligations. Professional liability insurance covers the fees for the lawyer you must now hire to get their unmerited case thrown out of court.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Or, more seriously, let’s say you missed the deadline for a venue deposit and the venue booked another event for that time-slot. Meanwhile, nonrefundable deposits for DJs, caterers, and florals were already made. Your client could bring a lawsuit to reclaim that lost money from your business. Professional liability insurance covers the legal fees for the lawsuit and court costs, as well as any damages the judge awards the client.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Nobody likes to think about having dissatisfied, litigious clients. But the truth is that planners often help people plan for important personal milestones and celebrations. When things go wrong, emotions can be very strained, and a lawsuit can land in your lap out of the blue.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>3. Event planning liquor liability insurance</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">This type of insurance protects you against personal injury and property damage claims when people have been drinking at an event.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If someone who has been drinking leaves the venue, gets in a fight, and injures someone,&nbsp; liquor liability insurance protects your business against a claim for the injured person’s medical bills. Same thing if an attendee runs their car into a fence on the way home from an event—your business won’t be on the hook for the cost of a new fence.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><br>There are two kinds of liquor liability insurance policies. Full policies are for venues like bars and restaurants that serve alcohol frequently. Event planners usually need the second type, known as host policies, which are designed for venues where alcohol is served occasionally, but not as a matter of routine.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>4. Hired and non-owned auto insurance</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">This type of insurance protects you against lawsuits for personal injury or property damage when an employee is driving for work. It covers vehicles that aren’t owned by the business: rental cars, buses, and employees’ personal vehicles.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You are also an employee of your business—this policy also covers you. “But wait,” you may say. “I’m driving my own car, and I already have auto insurance. I don’t need this!” Not so fast. Personal auto insurance generally does not cover driving for business purposes. If you’re driving your own car on the way to a site visit or an event, and get into an accident, this is the insurance policy that will provide financial protection.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":25533} -->\n<figure class=\"wp-block-image\"><img src=\"https://2lkcp81qv9i72rn88i4dfqq1-wpengine.netdna-ssl.com/wp-content/uploads/2019/08/Hand-Shake.png\" alt=\"\" class=\"wp-image-25533\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Help your clients make smart event insurance choices</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Creating events is a partnership between planner and client, and your clients also need the protection provided by event insurance and event cancellation insurance. For events held on your client’s property, direct them to speak with their homeowners, rental, or property insurance provider to make sure the coverage is sufficient if an injury or property damage occurs.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For events held off the client’s property (a wedding in a city garden, a company event in a historic building, a networking meeting at a hotel), homeowners and property insurance won’t cover damage or injury. Your clients will need short-term event insurance to cover the event. As their advisor, get acquainted with reliable insurance providers in a range of price-points and have the contact information of go-to agents on hand to share with clients.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Let your clients know event insurance generally starts under $200 and goes up from there, with the price varying depending on event type, size, activities, length, and other factors.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Your clients will also need event cancellation insurance. This covers financial losses when extreme weather, hospitalizations, and vendor no-shows force a cancellation of the event. The insurance does not, however, cover factors such as cold feet at a wedding or low ticket sales for a fundraiser.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":25526} -->\n<figure class=\"wp-block-image\"><img src=\"https://2lkcp81qv9i72rn88i4dfqq1-wpengine.netdna-ssl.com/wp-content/uploads/2019/08/PeopleOnSofa-1024x755.png\" alt=\"\" class=\"wp-image-25526\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How to find the right event insurance plans?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Insurance isn’t likely a favorite task or topic of conversation—for you or your clients. But getting insurance plans in place to protect your business and your clients from liability is essential. Here are some search tips to keep in mind as you decide on your insurance provider:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Accessibility.</strong>&nbsp;For some people, having a walk-in office and an agent to speak with face to face when choosing coverage or navigating a claim is important.</li><li><strong>Specialization.&nbsp;</strong>Most insurance companies cover events. But if you run a small planning company, an agency specializing in small businesses may be ideal. Some companies may also specialize in event coverage in your area.&nbsp;&nbsp;</li><li><strong>Cost.</strong>&nbsp;It’s simple—you need coverage with premiums that stay within your budget.&nbsp;</li><li><strong>Reviews.</strong>&nbsp;Explore online customer reviews and&nbsp;consumer guides&nbsp;that cover insurance. Pay attention to whether the consumer review site makes money when you link to an insurance company through them. This isn’t a dealbreaker, but the most trustworthy sites are transparent about their business model.</li><li><strong>Word of mouth.</strong>&nbsp;Talk with trusted mentors in the business about their experiences with insurance companies to help you narrow your choices.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Hopefully you’ll never have to make a claim, but with your insurance in order you can focus without worry on the fun stuff—planning outstanding events.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.socialtables.com/blog/event-planning/insurance/\">click here.</a></p>\n<!-- /wp:paragraph -->','The 4 Event Planning Insurance Plans You Need','','inherit','closed','closed','','2312-revision-v1','','','2022-04-26 15:39:32','2022-04-26 15:39:32','',2312,'http://smartinsurance.tips/?p=2444',0,'revision','',0),(2445,1,'2022-04-26 15:40:25','2022-04-26 15:40:25','','Insurance-4','','inherit','open','closed','','insurance-4-2','','','2022-04-26 15:40:25','2022-04-26 15:40:25','',2316,'http://smartinsurance.tips/wp-content/uploads/2022/04/Insurance-4.png',0,'attachment','image/png',0),(2446,1,'2022-04-26 15:40:33','2022-04-26 15:40:33','<!-- wp:image {\"id\":2445,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Insurance-4-1024x536.png\" alt=\"\" class=\"wp-image-2445\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">An insurance premium is the amount of money an individual or business pays for an insurance policy. Insurance premiums are paid for policies that cover healthcare, auto, home, and life insurance. Once earned, the premium is&nbsp;income for&nbsp;the insurance company. It also represents a liability, as the insurer must provide coverage for claims being made against the policy. Failure to pay the premium on the individual or the business may result in the cancellation of the policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block-callout-heading_1-0\"><strong>KEY TAKEAWAYS</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>An insurance premium is the amount of money an individual or business must pay for an insurance policy.</li><li>Insurance premiums are paid for policies that cover healthcare, auto, home, and life insurance.</li><li>Failure to pay the premium on the part of the individual or the business may result in the cancellation of the policy and a loss of coverage.</li><li>Some premiums are paid quarterly, monthly, or semi-annually depending on the policy.</li><li>Shopping around for insurance may help you find affordable premiums.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-5\">How an Insurance Premium Works</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-6\">When you sign up for an&nbsp;insurance policy, your insurer will charge you a premium. This is the amount you pay for the policy. Policyholders may&nbsp;choose from&nbsp;several options for&nbsp;paying their&nbsp;insurance premiums. Some insurers allow the policyholder to pay the insurance premium in installments—monthly or semi-annually—while others may require an upfront payment in full before any coverage starts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-8\">The price&nbsp;of the premium&nbsp;depends&nbsp;on a variety of factors, including:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-10\" class=\"has-black-color has-text-color has-medium-font-size\"><li>The type of coverage</li><li>Your age</li><li>The area in which you live</li><li>Any claims filed in the past</li><li>Moral hazard and adverse selection</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Important: </strong>There may be additional charges payable to the insurer on top of the premium, including taxes or services fees.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-14\">Auto Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-15\">For example, in an auto insurance policy, the likelihood of a claim being made against a teenage driver living in an urban area may be higher than a teenage driver&nbsp;in a suburban area. In general, the greater the risk associated, the more expensive the insurance policy (and thus, the insurance premiums).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-17\">Life Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-18\">In the case of a life insurance policy, the age at which you begin coverage will determine your premium amount, along with other risk factors (such as your current health). The younger you are, the lower your premiums will generally be. Conversely, the older you get, the more you pay in premiums to your insurance company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-20\">How Premiums Are Calculated</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-21\">Insurance premiums may increase after the policy period ends. The insurer may increase the premium for claims made during the previous period if the risk associated with offering a particular type of insurance increases, or if the cost of providing coverage increases.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-23\">Insurance companies generally employ&nbsp;actuaries&nbsp;to determine risk levels and premium prices for&nbsp;a given insurance policy. The emergence of sophisticated algorithms and artificial intelligence&nbsp;is fundamentally changing how insurance is priced and sold. There is an active debate between those who say algorithms will replace human actuaries in the future and those who contend the increasing use of algorithms will require greater participation of human actuaries and send the profession to a \"next level.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-25\">Insurers use the premiums paid to them by their customers and policyholders to cover liabilities associated with the policies they underwrite. They may also&nbsp;invest in the premium to generate higher returns. This can offset some costs of providing insurance coverage and help an insurer keep its prices competitive.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-27\">While insurance companies may invest in assets with varying levels of liquidity and returns, they are required to maintain a certain level of liquidity at all times. State insurance regulators set&nbsp;the number of liquid assets necessary&nbsp;to ensure&nbsp;insurers&nbsp;can&nbsp;pay claims.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-29\">Special Considerations</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-30\">Most consumers find shopping around to be the best way to find the cheapest insurance premiums. You may choose to shop around on your own with individual insurance companies. And if you are looking for quotes, it\'s fairly easy to do this by yourself online.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-32\">For example, the&nbsp;Affordable Care Act&nbsp;(ACA) allows uninsured consumers to shop around for health insurance policies on the marketplace. Upon logging in, the site requires some basic information such as your name, date of birth, address, and income, along with the personal information of anyone else in your household. You can choose from several options available based on your home state—each with different premiums, deductibles, and copays—the policy coverage changes based on the amount you pay.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-34\">The other option is to try going through an insurance agent or broker. They tend to work with a number of different companies and can try to get you the best quote. Many brokers can connect you to life, auto, home, and health insurance policies. However, it\'s important to remember that some of these brokers may be motivated by commissions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What Do Insurers Do With the Premiums?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Insurers use the premiums paid to them by their customers and policyholders to cover liabilities associated with the policies they underwrite. Some insurers invest in the premium to generate higher returns. By doing so, the companies can offset some costs of providing insurance coverage and help an insurer keep its prices competitive within the market.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What Are the Key Factors Affecting Insurance Premiums?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Insurance premiums depend on a variety of factors including the type of coverage being purchased by the policyholder, the age of the policyholder, where the policyholder lives, the claim history of the policyholder, and moral hazard and adverse selection. Insurance premiums may increase after the policy period ends, or if the risk associated with offering a particular type of insurance increases. It may also change if the amount of coverage changes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What Is an Actuary?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">An actuary assesses and manages the risks of financial investments, insurance policies, and other potentially risky ventures. Actuaries assess particular situations financial risks, primarily using probability, economic theory, and computer science.&nbsp;Most actuaries work at insurance companies, where their risk-management capabilities are particularly applicable in determining risk levels and premium prices for&nbsp;a given insurance policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.investopedia.com/terms/i/insurance-premium.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is an Insurance Premium?','','inherit','closed','closed','','2316-revision-v1','','','2022-04-26 15:40:33','2022-04-26 15:40:33','',2316,'http://smartinsurance.tips/?p=2446',0,'revision','',0),(2447,1,'2022-04-26 15:41:18','2022-04-26 15:41:18','','Insurance-5','','inherit','open','closed','','insurance-5-2','','','2022-04-26 15:41:18','2022-04-26 15:41:18','',2319,'http://smartinsurance.tips/wp-content/uploads/2022/04/Insurance-5.png',0,'attachment','image/png',0),(2448,1,'2022-04-26 15:41:28','2022-04-26 15:41:28','<!-- wp:image {\"id\":2447,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Insurance-5-1024x536.png\" alt=\"\" class=\"wp-image-2447\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Some states will allow you to share a renters insurance policy with your roommate, but it’s not always the best decision. You\'ll need more coverage, so you\'ll need to pay a higher premium, and, if you both need different types of insurance, that will be difficult to consolidate under one policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Having a roommate is a great way to save cash — on rent, on utilities, and even on groceries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">But what about with insurance? Can you team up on your renters insurance policy and split the bill, too?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The answer to that is more nuanced than you may think. While some insurance companies allow it, not all of them do. Even if they do, you may not want a shared policy due to the higher risk it comes with.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Can you share renters insurance with a roommate?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:image {\"id\":103214} -->\n<figure class=\"wp-block-image\"><img src=\"https://www.moneyunder30.com/wp-content/uploads/2021/09/shutterstock_1038686506.jpg\" alt=\"Should You Share Renters Insurance With Your Roommate? - Can you share renters insurance with your roommate?\" class=\"wp-image-103214\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">It’s possible to share a renters insurance policy, but it depends on your insurance carrier&nbsp;and&nbsp;the unique laws in your state.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Some states only allow policies to be shared between family members or spouses, so if you’re in one of these states (like Florida, for example), you won’t be able to split policies with an unrelated roommate.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If your state and insurance company&nbsp;<em>do</em>&nbsp;allow it, there are still some considerations you’ll want to take into account before&nbsp;signing up for a&nbsp;joint&nbsp;renters&nbsp;insurance&nbsp;policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Let’s look at a few of these together:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Coverage limits</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">First and foremost, you and your roommate should discuss coverage. Though adding them to your policy will cover them to some extent, it won’t protect all of their belongings unless you adjust the coverage limits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Let’s look at an example:&nbsp;if your policy currently covers up to $25,000 in damages and you add on a roommate — without increasing coverage — then you’ll now&nbsp;<em>split</em>&nbsp;that $25,000 should a disaster occur. That means you’ll each have just $12,500 in property protected.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">To make sure you’re both fully covered, you’ll need to increase your coverage limits to account for your roommate’s belongings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You should also check your lease, as many landlords require a certain amount of coverage per roommate. You’ll need to be sure your shared policy accounts for this, as well.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Budget</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Money is a big consideration when looking at insurance. While sharing renters insurance could make your insurance more affordable, it’s definitely not a given. Since you’ll need to increase your coverage limits to account for your roommate’s belongings, it could mean a higher premium, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">To see if sharing a renters policy would be best for your budget, be sure to get quotes both individually&nbsp;<em>and</em>&nbsp;as a pair, with the added coverage you’d need for both your belongings. This will allow you to compare the two costs side by side.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Risk</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Your stomach for risk is another consideration to keep in mind. After all, adding your roommate to your policy means increasing your risk. It makes you vulnerable to their incidents or mistakes, and any claim they file could hurt you — financially speaking.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">It’s true: insurance claims are reported to&nbsp;CLUE — the Comprehensive Loss Underwriting Exchange. This system is used by all kinds of insurance providers, including home and car insurers, to assess risk and price policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In short: having a claim reported on CLUE, even if it’s not your own,&nbsp;could mean higher premiums&nbsp;on other insurance policies, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Types of coverage</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You should talk to your roommate about what types of&nbsp;coverage&nbsp;<em>they</em>&nbsp;want. If they bring a high-dollar instrument to the property, they might want extra&nbsp;coverage&nbsp;to protect that&nbsp;personal possession&nbsp;in case of&nbsp;theft&nbsp;or damage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Similarly, you might want extra liability insurance in case your dog bites a guest or additional personal property coverage for your laptops and gaming system. All of these will come with higher premiums.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You’ll also need to agree on your deductible — or how much you’re willing to pay out of pocket when filing a claim. This will also impact your policy premium&nbsp;(lower-deductible policies typically come with higher costs).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Potential for disputes</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Finally, your status as roommates should also come into play. If a dispute between the two of you were to arise, it could cause problems. You may have trouble getting their half of the premium, or if your roommate steals or damages your belongings,&nbsp;you may not be able to file a claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If one roommate leaves, it could also complicate things with your coverage and policy. In general, if you’re young, your career is in flux, or you’re still in school, there’s a good chance one of you will need to move in the near future. If this happens, you’d need to reapply or update your existing policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Make sure you have a conversation with your roommate about all these possibilities before deciding to split a policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Is it a good idea to share renters insurance policies?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Typically, it’s best to have separate renters insurance policies, so you both assume your own risk.</strong>&nbsp;Having your own policy also ensures you’re only paying for coverage for your belongings — not those of your roommates, which may be more or less valuable.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you live with a family member, long-term significant other, or someone you really know and trust, sharing insurance might be a decent option, but make sure to weigh the risks vs. rewards before adding them to your policy. And remember: any claim they need to file could impact your insurance premiums for years to come.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Pros and cons of sharing a rental policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Pros:</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Potential affordability.&nbsp;</strong>You can split the costs of the premium.</li><li><strong>Ease and convenience.</strong>&nbsp;You’ll only need to fill out one application and can both report claims on the same policy.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Cons</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>More coverage is required.&nbsp;</strong>Just adding someone to your policy isn’t enough. If you want both your&nbsp;<em>and</em>&nbsp;their belongings protected, it will require higher coverage limits.</li><li><strong>Different coverages.</strong>&nbsp;You and your roommate may require different coverages. Your belongings may also hold different values, which would make splitting the cost of your policy unfair.</li><li><strong>Higher risk.&nbsp;</strong>You’re at risk if your roommate files a claim. It could mean higher premiums on other insurance products, too.</li><li><strong>Potential for disputes.&nbsp;</strong>Things could get complicated if a dispute arises or one roommate needs to leave.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How to share a policy with your roommate?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:image {\"id\":104324} -->\n<figure class=\"wp-block-image\"><img src=\"https://www.moneyunder30.com/wp-content/uploads/2021/09/shutterstock_1849149088.jpg\" alt=\"\" class=\"wp-image-104324\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you decide to share policies (and your state and insurance company allow it), here’s how it works — and how to reduce your risk along the way.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>1. Get to know your roommate</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You shouldn’t add just anyone to your insurance policy. Sharing a policy is best reserved for people you’re very close to — a sibling, family member, or potentially, a significant other. It should be someone you’ve known for a while and trust implicitly.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If your roommate fits the bill, make sure you talk to them about the consequences of sharing a policy, too. Let them know what claims could mean for each of you and make sure you’re on the same page about what coverages you want.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You should also discuss how claims money will be split&nbsp;<em>if</em>&nbsp;a claim occurs.&nbsp;According to&nbsp;Allstate, both roommates will need to endorse any check issued on a claim, so you’ll need a system for cashing the check and splitting the funds.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>2. Take a comprehensive inventory of all of your belongings</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Make note of each roommate’s belongings or, better yet, take a video of each roommate’s items — their furnishings, the contents of their closets and drawers, their electronics, and any other items of value. This will help you determine how much you’re both entitled to should one of you need to file a claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>3. Discuss your coverages</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You should sit down and have a talk about how much and what type of coverage you both want. You’ll need to think about how much you’re both willing to pay toward claims (the deductible) and what coverage limits you need. The inventory you took previously can help you calculate this number.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Make sure you discuss any special coverages you may want, too. Insurers sometimes offer add-ons for portable electronics, bikes, art, or collectibles.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>4. Make sure you’re both on the lease</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You’ll both need to be on the lease&nbsp;if you’re going to share an insurance policy. That means you can’t share a policy with a subletter or someone just temporarily staying with you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If your roommate is not already on the lease, get with your landlord to remedy it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>5. Work with your insurance agent&nbsp;<em>or</em>&nbsp;start getting quotes</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you already have a renter’s policy and want to add your roommate to yours, you’ll need to call up your insurance company to adjust the coverage and add the new policyholder.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you don’t yet have a policy or are just moving into a property, you can shop around for quotes. Keep in mind that not all insurers offer shared policies like this, so you may need to call a few before you’re able to begin the application process.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>6. File claims as necessary</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Once you have your shared policy, you can both file claims with your insurer. When your insurer issues a check, though,&nbsp;it will be issued to both of you, so be prepared to split the costs appropriately. The claim will also go on both of your records.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Summary</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In some cases,&nbsp;sharing&nbsp;renters&nbsp;insurance&nbsp;could make sense, but it’s rarely the best decision.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you do opt to share insurance, make sure you set clear expectations regarding how claims, bill payments, and coverage will be handled. You should also be prepared to take thorough stock of your belongings to ensure you’re getting appropriate coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.moneyunder30.com/share-renters-insurance-with-your-roommate\">click here.</a></p>\n<!-- /wp:paragraph -->','Should you share renters insurance with your roommate?','','inherit','closed','closed','','2319-revision-v1','','','2022-04-26 15:41:28','2022-04-26 15:41:28','',2319,'http://smartinsurance.tips/?p=2448',0,'revision','',0),(2449,1,'2022-04-26 15:42:11','2022-04-26 15:42:11','','Insurance-6','','inherit','open','closed','','insurance-6-2','','','2022-04-26 15:42:11','2022-04-26 15:42:11','',2331,'http://smartinsurance.tips/wp-content/uploads/2022/04/Insurance-6.png',0,'attachment','image/png',0),(2450,1,'2022-04-26 15:42:21','2022-04-26 15:42:21','<!-- wp:image {\"id\":2449,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Insurance-6-1024x536.png\" alt=\"\" class=\"wp-image-2449\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Electric cars may be cheaper to “fill up,” but they’re also more expensive to insure. They\'re filled with more expensive parts, and often require more expensive labor when they need repairs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you’re considering going electric for your next car purchase, you’re probably already relishing in the idea of blasting past the gas station so you can charge up at home for free.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">While EVs are undeniably cheaper to “fill up,” so to speak, they’re also more expensive to insure. Insurance companies aren’t quite sure what to make of electric cars and they’ve come up with some pretty valid reasons why they need to charge higher premiums to keep you covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Is electric car insurance more expensive?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":103601} -->\n<figure class=\"wp-block-image\"><img src=\"https://www.moneyunder30.com/wp-content/uploads/2021/09/shutterstock_1641881554.png\" alt=\"Is Electric Car Insurance Really More Expensive? - Is electric car insurance more expensive?\" class=\"wp-image-103601\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Electric car insurance, quite simply, is conventional auto insurance but for your electric car.&nbsp;<strong>The key&nbsp;difference&nbsp;between electric and conventional car insurance is&nbsp;price</strong>.&nbsp;<strong>Electric cars are, across the board,&nbsp;more&nbsp;expensive to insure.</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You might assume that electric cars would require some sort of specialized insurance like they have for ATVs or motor homes, but no; insurance companies basically treat them the same as gas-powered cars.&nbsp;This means that you’ll be able to purchase collision coverage, comprehensive coverage, and all that other good stuff you’re familiar with.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Why&nbsp;is it more expensive to insure an electric car?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Although your personalized auto insurance premiums are heavily driven by factors like where you park, how you drive, etc., one of the&nbsp;biggest&nbsp;ones is:&nbsp;how expensive will your car be to repair?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Electric cars are much more expensive to repair than gas-powered cars for a variety of reasons, including:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>They’re filled with more sensitive electronics</strong>&nbsp;which can easily get damaged in a fender bender. My neighbor’s daughter once bumped into a Tesla Model S at a stoplight doing under 15mph. Her Jeep had nary a scratch, while the Tesla suffered $12,000 in damage. Apparently, the impact dislodged several sensors throughout the car. Ouch.</li><li><strong>They&nbsp;generally require more specialized parts and labor</strong>&nbsp;to work on since they’re more like giant laptops than traditional automobiles. You can’t take them to the corner shop where Ed throws in a new radiator for $150. They almost always have to go back to the dealership, which holds a monopoly on parts and labor.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Are electric cars more expensive to insure than hybrids?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Yep, and for much the same reasons. Electric cars are more expensive to buy, made with more expensive parts, and are costlier to work on than hybrids.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What coverage do electric car drivers need?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you buy an electric car instead of a gas or hybrid one, will it change up how much collision, comprehensive, and other types of insurance you’ll need?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In a word,&nbsp;yes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Here’s a quick breakdown of which insurance types you’ll want more or the same of when you insure an electric car:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Property damage liability/Bodily injury liability – possibly more coverage.&nbsp;</strong>Liability doesn’t protect you or your car – it protects your net worth. If you have $25k worth of liability and cause $60k worth of damage, the other driver can sue you for the remaining $35k.&nbsp;Furthermore, they’re more likely to sue you if they think you’re rich and have the money to pay. That’s why drivers of “rich” looking electric cars like Teslas and Porsches might want to up their liability.</li><li><strong>Collision – definitely more coverage.</strong>&nbsp;Collision covers&nbsp;your&nbsp;repair bills after you cause an accident. Since even minor fender benders can cause $10,000+ worth of damage to electric cars, I&nbsp;strongly&nbsp;recommend getting at least $10k worth of collision coverage.</li><li><strong>Comprehensive –&nbsp;possibly more coverage.&nbsp;</strong>&nbsp;This covers damage your car suffers in a non-accident, like fire damage, hail damage, vandalism, theft, and generally unlucky stuff happening to your car. Even though your electric car is more sensitive to damage than a gas car (and more expensive to repair), you may still be okay skipping comprehensive coverage if you park your car in a safe area.</li><li><strong>Towing and labor – same coverage.&nbsp;</strong>Towing and labor helps to cover the cost of towing and roadside assistance. You’ll want towing coverage for your electric car in case you run out of battery or experience a breakdown.</li><li><strong>Uninsured motorist bodily injury/property damage – same coverage.&nbsp;</strong>As the name implies, UMBI and UMPD cover your costs if the driver who hit you doesn’t have enough insurance to cover your damage.&nbsp;<strong>When you consider the high costs of repairing your electric car&nbsp;and&nbsp;the fact that 1 in 8 drivers on the road is uninsured, according to the&nbsp;Insurance Information Institute, you’d be wise to shield your EV with uninsured motorist protection.</strong></li><li><strong>Personal injury protection (PIP) – same coverage.&nbsp;</strong>I recommend you purchase at least enough PIP coverage to meet your health insurance deductible plus one month of lost wages. There’s no reason that I can think of that you’d need to&nbsp;increase&nbsp;your PIP coverage in an electric car.</li><li><strong>Gap insurance –&nbsp;same coverage.&nbsp;</strong>If you leased your electric car, chances are the dealer baked gap insurance into the price. Give ‘em a call to confirm.&nbsp;<strong>If you&nbsp;financed&nbsp;your car, take a minute to compare how much you still owe on the car with its&nbsp;True Market Value. If the TMV is way lower, you’ll want gap insurance.&nbsp;</strong></li><li><strong>Rental reimbursement –&nbsp;same coverage.&nbsp;</strong>Rental car reimbursement coverage is self-explanatory, and the same principles apply as when insuring a gas car.&nbsp; Will the dealer give you a loaner while your EV is in the shop? If not, can you go without your EV for a while? If you answered “no” to both, treat yourself to some rental reimbursement coverage.</li><li><strong>Usage-based insurance –&nbsp;same coverage.&nbsp;</strong>There’s no reason owning an electric car should inherently push you towards UBI –&nbsp;unless&nbsp;you bought it with the specific intent to drive less.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Are electric cars still cheaper to own overall?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":103605} -->\n<figure class=\"wp-block-image\"><img src=\"https://www.moneyunder30.com/wp-content/uploads/2021/09/shutterstock_34516006.png\" alt=\"Is Electric Car Insurance Really More Expensive? - Are electric cars still cheaper to own overall?\" class=\"wp-image-103605\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you were primarily looking at buying an EV to save money on ownership costs, you might be bummed to read that they’re actually&nbsp;more&nbsp;expensive to insure.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">But will owning an EV save you money&nbsp;overall?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">EVs are more expensive to buy up front, and in 10 years, they’ll likely need a replacement battery service costing $10,000 or more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>So basically, EVs are expensive at 0 miles, expensive at 100,000 miles, and cheap for all those miles in between</strong>. The sweet spot, then, may be to buy a gently-used EV and flip it before it turns 10!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How can you save on electric car insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":104002} -->\n<figure class=\"wp-block-image\"><img src=\"https://www.moneyunder30.com/wp-content/uploads/2021/09/shutterstock_523890190.jpg\" alt=\"\" class=\"wp-image-104002\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you’re not too excited to&nbsp;pay way more than your current insurance rate on your new EV, here are some simple ways you can get your rates down:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Buy an EV that’s cheap to insure</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">As with conventional cars, certain EVs are cheaper to insure than others.&nbsp;Teslas are at the top of the range, unfortunately, because they’re so darn pricey to fix. But&nbsp;Chevy Bolts, Kia Niros, and Nissan Leafs are much cheaper.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Call your provider and hunt for discounts together</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">I know, it sounds a little ridiculous to call up your provider and ask “how can I pay you less,” but I swear it works.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">All you have to do is connect with a live agent over the phone and ask them if you qualify for a better rate. They’ll update your driver info first, then go down the list of possible discounts you may not be taking advantage of – especially any that are EV-related.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Opt-in to telematics programs</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Lastly, a great way to slash your EV insurance premiums is to opt into your provider’s telematics program. Telematics is just industry-speak for “thingy you plug into your car to grade your driving behavior for a discount.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Premium discounts for safe, mindful driving can be&nbsp;crazy.&nbsp;Your&nbsp;only challenge will be to resist stomping on the accelerator at every stoplight to feel the pull of that sweet electric motor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Summary</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Electric cars are&nbsp;more expensive to insure than their gas-powered equivalents for many reasons, including their perceived “luxury” status, sensitivity to damage, and high cost of repairs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">However, as EVs implement more safety tech and adoption becomes more widespread, that gap may narrow.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In the meantime, buying a gently-used EV and getting plenty of quotes is the best way to save on EV insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.moneyunder30.com/is-electric-car-insurance-really-more-expensive\">click here.</a></p>\n<!-- /wp:paragraph -->','Is Electric Car Insurance Really More Expensive?','','inherit','closed','closed','','2331-revision-v1','','','2022-04-26 15:42:21','2022-04-26 15:42:21','',2331,'http://smartinsurance.tips/?p=2450',0,'revision','',0),(2451,1,'2022-04-26 15:43:07','2022-04-26 15:43:07','','Insurance-7','','inherit','open','closed','','insurance-7-2','','','2022-04-26 15:43:07','2022-04-26 15:43:07','',2334,'http://smartinsurance.tips/wp-content/uploads/2022/04/Insurance-7.png',0,'attachment','image/png',0),(2452,1,'2022-04-26 15:43:14','2022-04-26 15:43:14','<!-- wp:image {\"id\":2451,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Insurance-7-1024x536.png\" alt=\"\" class=\"wp-image-2451\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">When&nbsp;building a home inventory&nbsp;of your belongings, items at the top of your list might be especially valuable possessions like art or fine jewelry. But while a standard policy for&nbsp;homeowners&nbsp;or&nbsp;renters&nbsp;insurance provides coverage for personal belongings, they are often limited for specific high-value items. Fortunately, most insurance companies offer ways to adjust your policy and ensure adequate protection for all your possessions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What valuable items might be in your home?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">When purchasing a home insurance policy, insurance carriers will ask if valuable personal belongings are kept in the home. The term “valuables” refers to an item that is expensive, rare or collectible. Insurance companies consider many items valuable, including:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Fine jewelry</li><li>Watches</li><li>Art</li><li>Furs</li><li>Fine china and silverware</li><li>Coin collections</li><li>Stamp collections</li><li>Firearms</li><li>Sporting equipment</li><li>Musical instruments</li><li>Cameras</li><li>Electronics</li><li>Medical devices</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Tips for insuring your valuable items</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Valuable items, like a wedding ring or antique collection, are likely prized possessions, and it’s important to get the right type of insurance and the right amount of coverage to protect them. Here are some tips for insuring expensive items:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Check what your policy covers</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Whether it’s homeowners or renters insurance, check to see what the policy covers and what coverage limits are for valuables. Note that most insurance policies have different coverage limits for damage and theft. Find out if the policy includes&nbsp;all perils or named perils coverage&nbsp;for personal property to determine what losses are covered under your policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Get your items appraised</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If unsure how much valuable items are worth, consider getting them appraised by a professional. An appraisal will help determine if an insurance policy’s coverage limits offer enough protection or if extra coverage is needed. Because some valuable items appreciate over time, it’s a good idea to get appraisals every few years to ensure their value is accurate and the coverage is sufficient.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Make a home inventory</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Every homeowner should have a home inventory of their personal belongings with a separate section for valuables. A home inventory is essentially a catalog of everything in the home and should include an image and description of each valuable item, plus the original value, date of purchase, place of purchase and the receipt if possible. Having a home inventory comes in handy when filing a personal property claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Upgrade to replacement cost coverage</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Most home and renters insurance policies reimburse damaged or stolen personal property at their&nbsp;actual cash value&nbsp;(ACV). With ACV, payouts for the damaged or stolen item include depreciation. Upgrading to a&nbsp;replacement cost value (RCV) policy&nbsp;helps ensure a payout for the item’s original cost without depreciation. Among&nbsp;the differences between RCV and ACV policies, the main one is that RCV policies are more expensive than ACV policies, but the claim payout is higher.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Purchase an endorsement</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">One good way to insure jewelry or other valuable items is to&nbsp;purchase a scheduled personal property endorsement. This add-on policy is available from most insurance companies, and it allows for an increase to the personal property coverage limit for specific items, like a fine art collection or firearm. Purchasing an endorsement will raise the premium but result in a higher payout after a covered loss.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Consider a buyer’s protection plan</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">When purchasing new valuable items, consider purchasing a buyer’s protection plan from the merchant. Popular with jewelry and electronics companies, a buyer’s protection plan offers coverage on top of what a standard home or renters insurance already includes. There is usually a monthly or annual fee, but it may cost less than buying an add-on policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How homeowners insurance covers valuables differently than renters insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Homeowners insurance and renters insurance both offer coverage for valuables, but the coverage limits vary. Typically, home insurance policies offer more coverage for valuable items than renters insurance policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Home insurance policies also include more options for valuables add-on coverage. It is important to determine coverage needs with either type of policy and purchase additional coverage if extra protection is needed for valuable personal belongings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:table -->\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Homeowners insurance</strong></td><td><strong>Renters insurance</strong></td></tr><tr><td>Higher valuables coverage limits</td><td>Lower valuables coverage limits</td></tr><tr><td>Covers items anywhere in the house</td><td>Covers items anywhere in the building</td></tr><tr><td>More options for add-on coverages</td><td>Few or no options for add-on coverages</td></tr><tr><td>More expensive premiums</td><td>Less expensive premiums</td></tr></tbody></table></figure>\n<!-- /wp:table -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Frequently asked questions</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>How do I create a home inventory?</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">To create a home inventory of your personal belongings, we suggest working room-by-room and writing down a list of all personal belongings. It should include things like furniture, electronics, valuables, appliances, clothing, sporting equipment and office equipment. Photograph each item and include a short description, date of purchase, place of purchase, serial number and original value. Any available receipts should be included with the inventory. It’s also a good idea to keep a digital and hard copy of the home inventory file in a safe place outside of the home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Is jewelry covered under homeowners insurance?</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Yes, jewelry is typically covered under a homeowners policy. However, every home insurance company treats valuables coverage differently. According to the Insurance Information Institute (Triple-I), many home insurance companies only include&nbsp;$1,500 in jewelry coverage&nbsp;with standard policies. For renters insurance, the limit could be even lower. It’s a good idea for the insured to determine what their specific policy includes and look into scheduled personal property coverage or other endorsements if more coverage is needed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.bankrate.com/insurance/homeowners-insurance/insuring-expensive-possessions/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to insure valuable items?','','inherit','closed','closed','','2334-revision-v1','','','2022-04-26 15:43:14','2022-04-26 15:43:14','',2334,'http://smartinsurance.tips/?p=2452',0,'revision','',0),(2453,1,'2022-04-26 15:43:57','2022-04-26 15:43:57','','Insurance-8','','inherit','open','closed','','insurance-8-2','','','2022-04-26 15:43:57','2022-04-26 15:43:57','',2337,'http://smartinsurance.tips/wp-content/uploads/2022/04/Insurance-8.png',0,'attachment','image/png',0),(2454,1,'2022-04-26 15:44:00','2022-04-26 15:44:00','<!-- wp:image {\"id\":2453,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Insurance-8-1024x536.png\" alt=\"\" class=\"wp-image-2453\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Whether your most valuable possessions are electronics, family heirlooms or a new piece of furniture, protecting your belongings is a priority for most homeowners or renters. Fortunately, if you have a&nbsp;homeowners, condo or renters insurance policy, you probably already have just that.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">All of these policy types almost always include contents insurance, also known as&nbsp;personal property coverage. That means that if your belongings are damaged by a covered peril — like a fire — your policy can pay out to help you replace what you lost.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">While other countries offer contents insurance as a standalone policy, in the U.S., this protection for your possessions comes standard with insurance policies for your residence (i.e., homeowners, renters or condo insurance). With a single policy that includes contents insurance, you can have peace of mind with a level of financial protection against a broad range of risks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What does home contents insurance cover?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">What is contents insurance, exactly? As its name suggests, it covers the contents of your home (up to your policy limits and barring exclusions).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In short, your personal property coverage applies to the vast majority of the belongings that you store in your house. Some insurance professionals make this concept easier to understand by saying that contents insurance covers anything that would fall out if your residence was turned upside down.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">While your contents insurance usually does not cover installed items — like your carpet or your hot water heater — your&nbsp;dwelling insurance&nbsp;probably does. This applies to home and condo owners. If you rent, your landlord is typically the one responsible for insuring built-in features.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Your contents insurance may also offer protections for&nbsp;things you store off-premises&nbsp;(up to a certain policy limit) and reimbursement if any of your guests’ belongings are damaged or destroyed by a covered peril. It will not, however, protect the possessions of any people who live with you long-term but are not related to you (e.g., tenants or roommates).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Note that your house and contents insurance only kicks in after a covered loss. So if a fire damages your couch, your policy will almost definitely provide coverage to repair or replace it. But if you spilled on it and now want a new one, a claim would likely be unsuccessful.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">What is typically covered:</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Furniture</li><li>Clothing</li><li>Electronics, including TVs and computers</li><li>Decor</li><li>Books</li><li>Sports equipment, including bikes</li><li>Dishes</li><li>Jewelry</li><li>Art</li><li>Appliances that are not built-in (e.g., blenders, toasters, mixers)</li><li>Firearms</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">What is not typically covered:</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>The&nbsp;full value of expensive items</li><li>Vehicles and aircrafts</li><li>Installed features like flooring, furnaces, cabinets, etc. (if you own a home, dwelling insurance will step in here)</li><li>Animals, including birds and fish</li><li>Items covered by a separate insurance policy (e.g., jewelry that has its own policy)</li><li>Belongings owned by any tenant or boarder</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Contents insurance coverage limits</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The Insurance Information Institute (III)&nbsp;indicates&nbsp;that most homeowners insurance policies offer contents insurance in the amount of 50-70% of your dwelling coverage. So if you have $300,000 of dwelling insurance, you can expect somewhere between $150,000 and $210,000 of house contents insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">As a renter or condo owner, because you lack a dwelling coverage amount to guide your limit, you get to set your own contents insurance limit, although your carrier may indicate a required or recommended minimum. Similarly, if you live in an area where you can purchase standalone contents insurance — like&nbsp;the UK&nbsp;or&nbsp;Australia&nbsp;— you will be able to buy a contents insurance policy with the coverage limit you want.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">In the event that you buy a contents insurance policy and get to pick your coverage limit, you may be best served by first creating a&nbsp;home inventory, or a comprehensive list of what you own. This will help you determine where you should set your policy limits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Additionally, whether you own a home or condo or rent, you do get a big say in how your buildings and content insurance works because you get to choose between the following two options.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Actual cash value versus replacement cost value</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Generally, policies include&nbsp;actual cash value&nbsp;(ACV) by default. This coverage factors in depreciation, meaning they will pay out the item’s actual cash value today after a covered loss. That means that if you were hoping to replace your TV from 2010 with a new one, you will be left covering a fair chunk of the expense yourself.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You do have an option to bump up your coverage level, though: you can choose&nbsp;replacement cost value&nbsp;(RCV). This type of contents insurance pays out to replace the item with the same type of item purchased at today’s prices.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">RCV can help you better maintain your quality of life after a covered loss, but it costs more. Expect your premiums to be somewhat higher if you opt for RCV over ACV.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Valuable item sublimits</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You will notice quite a few high-value items have been included in the list of what contents insurance covers. While personal property coverage usually will pay to help you replace the item, almost all policies place sub-limits on certain item types. For example, your policy might&nbsp;pay out up to $1,500&nbsp;to<br>replace stolen jewelry.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Read your policy to identify any specific sub-limits. If your house and contents insurance would not be sufficient to cover some of your more expensive belongings, you can explore specifically adding them to your insurance policy through a rider or endorsement (for an additional cost). Alternatively, you may be able to get a separate insurance policy for them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Do I need contents insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Most insurance experts recommend carrying some form of contents insurance. Most mortgage lenders require homebuyers to carry house and contents insurance in the form of a homeowners insurance policy, but although landlords commonly mandate renters insurance for their tenants, the personal property portion is usually optional and up to your preference.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Even if contents insurance is optional for you, it can go a long way in helping you recover after a disaster. With this type of coverage in place, you can replace or repair your belongings after a fire, theft, vandalism, windstorm, or other covered loss, up to policy limits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.bankrate.com/insurance/homeowners-insurance/contents-insurance/?itm_source=parsely-api\">click here.</a></p>\n<!-- /wp:paragraph -->','What is contents insurance?','','inherit','closed','closed','','2337-revision-v1','','','2022-04-26 15:44:00','2022-04-26 15:44:00','',2337,'http://smartinsurance.tips/?p=2454',0,'revision','',0),(2455,1,'2022-04-26 15:45:40','2022-04-26 15:45:40','','fIxNt1a','','inherit','open','closed','','fixnt1a','','','2022-04-26 15:45:40','2022-04-26 15:45:40','',2341,'http://smartinsurance.tips/wp-content/uploads/2022/04/fIxNt1a.png',0,'attachment','image/png',0),