(2215,1,'2022-03-07 21:05:59','2022-03-07 21:05:59','<!-- wp:image {\"id\":2214,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Uninsured-motorist-1024x536.png\" alt=\"\" class=\"wp-image-2214\"/></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\">About one in eight drivers don’t carry car insurance, according to a 2021 report from the&nbsp; Insurance Research Council. And what happens if you’re injured in a car crash caused by a driver who doesn’t carry liability car insurance? You can be stuck with some hefty out-of-pocket expenses like medical bills and health insurance deductibles.</p>\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 injuries cause you to miss work, you can also lose valuable wages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Fortunately, there’s special car insurance to alleviate this problem: Uninsured motorist (UM) coverage and underinsured motorist (UIM) coverage pay for medical bills and other expenses for you and your passengers if you’re in a car accident caused by:</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 driver who doesn’t carry any liability car insurance.</li><li>A driver who doesn’t have <em>enough</em> liability insurance to cover your medical bills.</li><li>A driver whose insurance company denies coverage or goes out of business.</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\">Uninsured motorist coverage can pay for:</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>Medical bills.</li><li>Lost wages if you can’t work because of the car accident.</li><li>Pain and suffering compensation.</li><li>Funeral expenses.</li><li>In some states, car damage.</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\">Some states require uninsured motorist coverage, while other states require that your insurance company offer you the coverage, which you can typically reject in writing if you don’t want it. If it’s optional in your state, UM coverage is worth considering.</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\">Breaking Down Uninsured Motorist Coverage Variations</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 four main types of coverage grouped under uninsured motorist coverage:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:table -->\n<figure id=\"footable_212421\" class=\"wp-block-table\"><table><thead><tr><th scope=\"col\">Insurance type</th><th scope=\"col\">How it works</th></tr></thead><tbody><tr><td><strong>Uninsured motorist bodily injury (UM or UMBI)</strong></td><td>Pays when an at-fault driver causes a car accident.</td></tr><tr><td><strong>Uninsured motorist property damage (UMPD)</strong></td><td>Covers damage to your car if it’s hit by someone without insurance. Some states allow you to use UMPD to cover hit-and-run accidents.</td></tr><tr><td><strong>Underinsured motorist bodily injury (UIM or UIMBI)</strong></td><td>Pays when another driver causes a car accident but they do not carry enough liability insurance to cover all your medical bills, lost wages, etc.</td></tr><tr><td><strong>Underinsured motorist property damage (UIMPD)</strong></td><td>Covers damage to your car if it’s hit by someone who does not carry enough liability insurance.</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\">Uninsured Motorist Coverage 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\">UM coverage is usually expressed as two numbers, such as 100/300. This translates 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>$100,000 bodily injury coverage per person.</li><li>$300,000 bodily injury coverage per accident.</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\">So if you have 100/300 and four passengers are injured, with high medical bills, your maximum UM payout is $300,000. However, you can generally turn to health insurance after your UM coverage is exhausted.</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 Uninsured Motorist Coverage Do I Need?</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 state requires uninsured motorist coverage, you must buy at least the state’s minimum. The minimum will typically be UM coverage in amounts that match your liability coverage amounts. For example, if you have liability limits of $100,000 for injury to one person and $300,000 for injuries in one accident (known as 100/300), you would buy 100/300 in UM coverage.</p>\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 chart with state requirements for uninsured motorist 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\">State Laws for Uninsured Motorist Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:table -->\n<figure id=\"footable_212423\" class=\"wp-block-table\"><table><thead><tr><th scope=\"col\">State</th><th scope=\"col\">Requirements for buying UM or being offered UM</th><th scope=\"col\">Can you reject UM in writing?</th><th scope=\"col\">Minimum UM coverage amount</th><th scope=\"col\">Is UMPD required? If so, minimum coverage amount</th><th scope=\"col\">UMPD deductible</th></tr></thead><tbody><tr><td>Alabama</td><td>Must be offered</td><td>Yes</td><td>25/50</td><td>No</td><td>N/A</td></tr><tr><td>Alaska</td><td>Must be offered</td><td>Yes</td><td>50/100</td><td>You can reject UMPD in writing; $25,000 minimum if you buy it</td><td>$250</td></tr><tr><td>Arizona</td><td>Must be offered</td><td>Yes, on a state-approved form</td><td>UM 15/30</td><td>No</td><td>N/A</td></tr><tr><td>Arkansas</td><td>UM must be offered. UIM must be offered if you buy UM.</td><td>Yes</td><td>UM - 25/50</td><td>You can reject UMPD in writing; $25,000 minimum if you buy it</td><td>$200</td></tr><tr><td>California</td><td>Must be offered</td><td>Yes</td><td>30/60</td><td>You can reject UMPD coverage</td><td>If you have collision coverage, UMPD only pays the deductible not covered by collision insurance, up to $3,500.</td></tr><tr><td>Colorado</td><td>Must be offered</td><td>Yes</td><td>25/50</td><td>May be offered at your request</td><td>N/A</td></tr><tr><td>Connecticut</td><td>Must be offered</td><td>Yes</td><td>20/40</td><td>No</td><td>N/A</td></tr><tr><td>Delaware</td><td>Must be offered</td><td>Yes</td><td>15/30</td><td>Acceptance of UM includes UMPD; $5,000</td><td>$250 (unless otherwise agreed in writing)</td></tr><tr><td>District of Columbia</td><td>UM is required</td><td>You can reject only UIM</td><td>UM - 25/50</td><td>Yes; $5,000</td><td>$200</td></tr><tr><td>Florida</td><td>Must be offered</td><td>Yes</td><td>10/20</td><td>N/A</td><td>N/A</td></tr><tr><td>Georgia</td><td>Must be offered</td><td>Yes</td><td>25/50</td><td>Yes; $25,000</td><td>$250, $500 or $1,000</td></tr><tr><td>Hawaii</td><td>Must be offered</td><td>Yes</td><td>UM - 20/40</td><td>N/A</td><td>N/A</td></tr><tr><td>Idaho</td><td>Must be offered</td><td>Yes</td><td>UM - 25/50</td><td>N/A</td><td>N/A</td></tr><tr><td>Illinois</td><td>Required</td><td>No</td><td>UM - 25/50</td><td>UMPD must be offered if you do not have collision insurance (you can reject in writing); $15,000</td><td>$250</td></tr><tr><td>Indiana</td><td>Must be offered</td><td>Yes</td><td>UM - 25/50 UIM - $50,000</td><td>You can reject UMPD; $10,000</td><td>Choose no deductible or a max of $300; deductible waived if your car was hit while legally parked and unoccupied</td></tr><tr><td>Iowa</td><td>Must be offered</td><td>Yes</td><td>UM - 20/40</td><td>N/A</td><td>N/A</td></tr><tr><td>Kansas</td><td>Required</td><td>You can only reject coverage that exceeds 25/50</td><td>25/50</td><td>N/A</td><td>N/A</td></tr><tr><td>Kentucky</td><td>UM must be offered; UIM is available upon request</td><td>Yes</td><td>25/50 or a $60,000 single limit for both UM and UMPD</td><td>N/A</td><td>N/A</td></tr><tr><td>Louisiana</td><td>Must be offered</td><td>Yes</td><td>15/30</td><td>UMPD available but not required</td><td>$250</td></tr><tr><td>Maine</td><td>Required</td><td>N/A</td><td>50/100</td><td>N/A</td><td>N/A</td></tr><tr><td>Maryland</td><td>Required</td><td>N/A</td><td>30/60</td><td>UMPD is required; $15,000</td><td>$50 - $250 (options in $50 increments)</td></tr><tr><td>Massachusetts</td><td>Required</td><td>N/A</td><td>20/40</td><td>N/A</td><td>N/A</td></tr><tr><td>Michigan</td><td>No requirement</td><td>N/A</td><td>N/A</td><td>N/A</td><td>N/A</td></tr><tr><td>Minnesota</td><td>Required</td><td>N/A</td><td>UM - 25/50</td><td>N/A</td><td>N/A</td></tr><tr><td>Mississippi</td><td>Must be offered</td><td>Yes</td><td>25/50</td><td>UMPD can be rejected; $25,000 minimum if you buy it</td><td>$200</td></tr><tr><td>Missouri</td><td>UM required</td><td>N/A</td><td>25/50</td><td>N/A</td><td>N/A</td></tr><tr><td>Montana</td><td>Must be offered</td><td>Yes</td><td>25/50</td><td>N/A</td><td>N/A</td></tr><tr><td>Nebraska</td><td>Required</td><td>N/A</td><td>UM - 25/50</td><td>N/A</td><td>N/A</td></tr><tr><td>Nevada</td><td>Must be offered</td><td>Yes</td><td>25/30</td><td>N/A</td><td>N/A</td></tr><tr><td>New Hampshire</td><td>Must be offered</td><td>You can reject UM in excess/umbrella policies only</td><td>25/50</td><td>Yes; $25,000</td><td>N/A</td></tr><tr><td>New Jersey</td><td>Required on standard policies</td><td>N/A</td><td>UM - 15/30</td><td>Yes; $5,000</td><td>N/A</td></tr><tr><td>New Mexico</td><td>Must be offered</td><td>Yes</td><td>25/50</td><td>Yes; $10,000</td><td>$250 maximum</td></tr><tr><td>New York</td><td>UM required, UIM is optional</td><td>N/A</td><td>25/50 for injury, 50/100 for death</td><td>N/A</td><td>N/A</td></tr><tr><td>North Carolina</td><td>UM required. UIM required if UM coverage exceeds 30/60</td><td>N/A</td><td>UM - 30/60</td><td>Yes; $25,000</td><td>$100</td></tr><tr><td>North Dakota</td><td>Required</td><td>N/A</td><td>25/50</td><td>N/A</td><td>N/A</td></tr><tr><td>Ohio</td><td>An insurer decides whether to offer it</td><td>N/A</td><td>25/50</td><td>Available upon your request, not to exceed $7,500</td><td>$250</td></tr><tr><td>Oklahoma</td><td>Must be offered</td><td>Yes</td><td>25/50</td><td>N/A</td><td>N/A</td></tr><tr><td>Oregon</td><td>UM is required. UIM is required if UM coverage is more than 25/50</td><td>N/A</td><td>25/50</td><td>Yes; $20,000</td><td>$200; $300 in hit-and-run claims</td></tr><tr><td>Pennsylvania</td><td>Must be offered</td><td>Yes</td><td>15/30</td><td>N/A</td><td>N/A</td></tr><tr><td>Rhode Island</td><td>Must be offered</td><td>Yes</td><td>25/50</td><td>Not required but $25,000 minimum coverage if you buy it</td><td>$200</td></tr><tr><td>South Carolina</td><td>UM is required</td><td>You can reject UIM</td><td>25/50</td><td>Yes; $25,000</td><td>$200</td></tr><tr><td>South Dakota</td><td>Required</td><td>N/A</td><td>25/50</td><td>N/A</td><td>N/A</td></tr><tr><td>Tennessee</td><td>Must be offered</td><td>Yes</td><td>25/50 or a $60,000 single limit</td><td>Yes; $15,000</td><td>$200</td></tr><tr><td>Texas</td><td>Must be offered</td><td>Yes</td><td>30/60</td><td>Yes; $25,000</td><td>$250</td></tr><tr><td>Utah</td><td>Must be offered</td><td>Yes</td><td>25/65 for UM; 10/20 for UIM</td><td>Required if you do not have collision coverage</td><td>$250</td></tr><tr><td>Vermont</td><td>Required</td><td>N/A</td><td>50/100</td><td>Yes; $10,000</td><td>$150</td></tr><tr><td>Virginia</td><td>Required</td><td>N/A</td><td>25/50</td><td>Yes; $20,000</td><td>$200</td></tr><tr><td>Washington</td><td>Must be offered</td><td>Yes</td><td>25/50</td><td>Required if you don’t have collision coverage, minimum of $10,000 in coverage</td><td>$100; $300 for hit-and-run claims</td></tr><tr><td>West Virginia</td><td>UM is required; UIM is optional</td><td>N/A</td><td>25/50</td><td>Yes; $10,000</td><td>$300</td></tr><tr><td>Wisconsin</td><td>UM is mandatory</td><td>UIM can be rejected</td><td>25/50 for UM; 50/100 for UIM</td><td>N/A</td><td>N/A</td></tr><tr><td>Wyoming</td><td>Must be offered</td><td>Yes</td><td>25/50</td><td>N/A</td><td>N/A</td></tr><tr><td></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\">Is Uninsured Motorist Coverage Necessary?</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 state doesn’t require UM coverage, you might be wondering if you should add it to your auto 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\">Here are some ways to decide:</p>\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 you have other insurance to cover car accident injuries?</strong>&nbsp;The primary function of uninsured motorist coverage is to pay medical bills after a car accident with an uninsured driver. If you have good health insurance, you may not feel you need UM coverage. But UM protection might be attractive if you have a high deductible health plan and would pay a large amount of money for a hospitalization.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">UM is a way to cover car accident injuries without paying co-insurance, copays and health insurance deductibles. UM also provides benefits that health insurance won’t, like money for pain and suffering and lost wages.</p>\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 average claim payment for UM for injuries is $32,879, according to the National Association of Insurance Commissioners’ most recent report.</p>\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 you have other insurance to cover car damage?</strong> In states where uninsured motorist property damage coverage is available, you may not need it. Collision insurance will also cover damage to your car if someone else hits it, and it will cover a wide variety of circumstances, not just an uninsured driver.</p>\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>Does your state have a lot of drivers without insurance?</strong>&nbsp;Approximately one in eight drivers nationwide are uninsured, but there’s wide variation among states, according to the Insurance Research Council. Mississippi has the highest rate of uninsured drivers (29.4%) and New Jersey the lowest (3.1%).</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\">Estimated Percentage of Uninsured Drivers by State</h3>\n<!-- /wp:heading -->\n\n<!-- wp:table -->\n<figure id=\"footable_212429\" class=\"wp-block-table\"><table><thead><tr><th scope=\"col\">State</th><th scope=\"col\">Percentage of uninsured drivers</th></tr></thead><tbody><tr><td>Mississippi</td><td>29.40%</td></tr><tr><td>Michigan</td><td>25.50%</td></tr><tr><td>Tennessee</td><td>23.70%</td></tr><tr><td>New Mexico</td><td>21.80%</td></tr><tr><td>Washington</td><td>21.70%</td></tr><tr><td>Florida</td><td>20.40%</td></tr><tr><td>Alabama</td><td>19.50%</td></tr><tr><td>Arkansas</td><td>19.30%</td></tr><tr><td>District of Columbia</td><td>19.10%</td></tr><tr><td>California</td><td>16.60%</td></tr><tr><td>Rhode Island</td><td>16.50%</td></tr><tr><td>Missouri</td><td>16.40%</td></tr><tr><td>Colorado</td><td>16.30%</td></tr><tr><td>Alaska</td><td>16.10%</td></tr><tr><td>Indiana</td><td>15.80%</td></tr><tr><td>Maryland</td><td>14.10%</td></tr><tr><td>Kentucky</td><td>13.90%</td></tr><tr><td>Oklahoma</td><td>13.40%</td></tr><tr><td>Wisconsin</td><td>13.30%</td></tr><tr><td>Idaho</td><td>13.20%</td></tr><tr><td>Ohio</td><td>13.00%</td></tr><tr><td>North Dakota</td><td>13.00%</td></tr><tr><td>Georgia</td><td>12.40%</td></tr><tr><td>Arizona</td><td>11.80%</td></tr><tr><td>Illinois</td><td>11.80%</td></tr><tr><td>Louisiana</td><td>11.70%</td></tr><tr><td>Iowa</td><td>11.30%</td></tr><tr><td>Kansas</td><td>10.90%</td></tr><tr><td>South Carolina</td><td>10.90%</td></tr><tr><td>Oregon</td><td>10.70%</td></tr><tr><td>Virginia</td><td>10.50%</td></tr><tr><td>Nevada</td><td>10.40%</td></tr><tr><td>Minnesota</td><td>9.90%</td></tr><tr><td>Hawaii</td><td>9.30%</td></tr><tr><td>Nebraska</td><td>9.30%</td></tr><tr><td>West Virginia</td><td>9.20%</td></tr><tr><td>Vermont</td><td>8.80%</td></tr><tr><td>Montana</td><td>8.50%</td></tr><tr><td>Delaware</td><td>8.50%</td></tr><tr><td>Texas</td><td>8.30%</td></tr><tr><td>South Dakota</td><td>7.40%</td></tr><tr><td>North Carolina</td><td>7.40%</td></tr><tr><td>Utah</td><td>6.50%</td></tr><tr><td>Connecticut</td><td>6.30%</td></tr><tr><td>New Hampshire</td><td>6.10%</td></tr><tr><td>Pennsylvania</td><td>6.00%</td></tr><tr><td>Wyoming</td><td>5.80%</td></tr><tr><td>Maine</td><td>4.90%</td></tr><tr><td>New York</td><td>4.10%</td></tr><tr><td>Massachusetts</td><td>3.50%</td></tr><tr><td>New Jersey</td><td>3.10%</td></tr><tr><td></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\">Are Hit-and-Run Accidents Covered by UM?</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 hit-and-run accident is typically defined as a car accident where the driver leaves the scene of the accident without exchanging insurance or contact information. A hit-and-run can occur between:</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>Cars</li><li>A car and property, like your fence or mailbox</li><li>A car and pedestrian</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\">Depending on your state, uninsured motorist insurance may cover damages if you’re the victim of a hit-and-run. A hit-and-run is generally covered under two uninsured motorist coverage types:</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>Uninsured motorist property damage</strong>&nbsp;pays for repairs if your car or property is damaged after a hit-and-run accident.</li><li><strong>Uninsured motorist bodily injury</strong>&nbsp;pays for medical bills if you’re injured in a hit-and-run accident.</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\">Keep in mind, UMPD isn’t available in all states. In states where UMPD is available, it may not cover hit-and-run accidents. If your state allows UMPD coverage for hit-and-run accidents, there may be a deductible.</p>\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 following states won’t allow UMPD coverage for hit-and-run accidents, but you can use your collision coverage to pay for car repairs:</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>California</li><li>Colorado</li><li>Georgia</li><li>Illinois</li><li>Louisiana</li><li>Ohio</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\">If you’re the victim of a hit-and-run, here are some steps you can take:</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>Pull over in a safe area.</strong>&nbsp;Make sure you and your passengers are OK. It’s not a good idea to chase the other driver.</li><li><strong>Record as many details about the accident as possible.</strong>&nbsp;Even if you didn’t get a look at the license plate, a description of the car (make, model, color) and driver can help during the insurance claim process. You want to take note of the time and location of the accident and get the contact information from any eye witnesses.</li><li><strong>Call the police.</strong></li><li><strong>Take photos of your car damage and the scene.</strong></li><li><strong>Call your insurance company.</strong></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\">Should I Buy UM Coverage for Property 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\">Unless your state requires UMPD coverage, you probably don’t need it if you already have collision insurance. That’s because collision coverage pays for damage to your car no matter who caused the accident. UMPD only pays in certain cases, but it may come with a lower deductible than what you chose for a collision deductible.</p>\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 average claim payment for UMPD is $1,926, according to the most recent numbers from the National Association of Insurance Commissioners.</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 it Mean to “Stack” 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\">Stacked insurance is when you make claims on two uninsured motorist policies. Stacking allows you to get more insurance money to cover medical bills if you’re injured in a car accident. Not all states allow stacking. Some car insurance companies have an “anti-stacking provision,” meaning you won’t be able to make multiple UM claims for a single car accident.</p>\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 can stack insurance, there are usually two ways to do this:.</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>Stack coverage for two vehicles that are insured under one policy.</li><li>Stack coverage for two vehicles that are insured under two policies in your name.</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\">Here are examples of how stacking might work.</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\">Stacking insurance within one policy</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\">Let’s say you have coverage for two cars on the same policy, both with $100,000 in UM bodily injury coverage. If you’re injured when an uninsured driver causes an accident with one of your cars, you can “stack” coverage and claim up to $200,000 in benefits.</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\">Stacking insurance from two policies</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\">In this scenario, you have coverage for two cars under two separate policies, both with $100,000 in UM coverage. If you’re injured when an uninsured driver hits one of your cars, you would stack UM benefits up to $200,000. Both policies must be in your name.</p>\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 some other things to consider about stacking 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><strong>You typically have to pay more to stack.</strong>&nbsp;You also need to elect stacking when you buy or renew a policy. You can’t add and use stacking after an accident.</li><li><strong>UM coverage is for car accidents caused by others.</strong>&nbsp;If you’re injured in a car accident that you caused, you can’t claim any UM benefits or stack.</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\">Here’s what to do if you’re making a claim by stacking uninsured motorist coverage:</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>If you’re injured in a car accident with a driver who does not have liability insurance,</strong>&nbsp;you’d make a claim on your own UM coverage for medical bills. If that doesn’t cover all your medical bills, you stack UM coverage from another car you own or another car insurance policy under your name.</li><li><strong>If you’re injured in a car accident with a driver who has some liability insurance but it doesn’t cover all of your medical bills,</strong>&nbsp;you first make a claim against the other driver’s liability insurance for your injuries. When that policy has paid out its maximum coverage, you then turn to your own UIM coverage. If you exhaust one of your UIM coverages, you stack from another car you own or from another car insurance policy in your name.</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\">Understand the Payout from an Uninsured Motorist Claim</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’s good to understand how uninsured motorist claims generally work, so that you’re not taken by surprise if you receive less than you expect. The underinsured motorist coverage amount you can claim is generally reduced by the amount of money you receive from another driver’s liability insurance. Here’s an example:</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>Let’s say you have $100,000 of UM coverage and you receive $50,000 from the other driver’s liability insurance, and total medical bills are $300,000.</li><li>Your UM coverage would likely only pay out $50,000 ($100,000 UM – $50,000 at-fault driver’s liability), meaning $200,000 wouldn’t be covered.</li><li>You generally don’t get your full UM ($100,000)&nbsp;<em>plus</em>&nbsp;the driver’s liability coverage ($50,000).</li><li>In this scenario, you might be expecting $150,000 total from insurance and get only $100,000.</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\">Some states, like Connecticut, have exceptions. Connecticut drivers can get UM “conversion” coverage, which means their UM payout will not be reduced by an at-fault driver’s liability insurance. Using the accident example above, a driver with conversion coverage would get their full UM ($100,000) plus the other driver’s liability payout ($50,000) for a total of $150,000.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">States such as Georgia offer you a choice. Georgia drivers are offered “uninsured motorist coverage—added on to at-fault liability limits.” You can reject this in writing and instead select “uninsured motorist coverage—reduced by at-fault liability limits.”</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 I Make an Uninsured Motorist Claim?</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 in a car accident and the at-fault driver doesn’t have any or enough liability insurance, contact your car insurance company and file a claim under your UM coverage (provided you have coverage).</p>\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 a few examples of UM accidents and claims.</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>You’re at a stop light and rear-ended by a driver who doesn’t have insurance.</strong> Since the at-fault driver doesn’t have insurance, file a UM claim with your car insurance company. You would make a claim under your uninsured motorist bodily injury (UMBI) coverage for your medical expenses and your uninsured motorist property damage (UMPD) coverage, if you have it, for damage to your car.</li><li><strong>You’re a pedestrian in a crosswalk and hit by a driver who does not have enough liability insurance to cover all of your medical expenses.</strong> First, make a claim with the at-fault driver’s car insurance company, or sue the driver, and get money from their liability insurance. Then you would file a claim with your own car insurance company under your underinsured motorist bodily injury (UIMBI) to cover additional expenses.</li><li><strong>Your vehicle is parked in a public parking garage. You find it has been hit and damaged, but the other driver didn’t leave their information.</strong> In this hit-and-run scenario, you would file a claim under your UMPD coverage (if your state allows it). If you don’t carry UMPD or your state doesn’t allow you to use it for hit-and-runs, file a claim through your collision coverage.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><br>To read the full article, <a href=\"https://www.forbes.com/advisor/car-insurance/uninsured-motorist-coverage/\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is Uninsured Motorist Coverage?','','inherit','closed','closed','','2213-revision-v1','','','2022-03-07 21:05:59','2022-03-07 21:05:59','',2213,'http://smartinsurance.tips/?p=2215',0,'revision','',0),(2217,1,'2022-03-08 19:08:30','2022-03-08 19:08:30','<!-- wp:image {\"id\":2211,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Cargo-1024x536.png\" alt=\"\" class=\"wp-image-2211\"/></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\">Despite insurance having been around for centuries, there is still a feeling that any form of insurance is a “grudge purchase”. By its nature, insurance is an intangible benefit, one that can only be tested under adverse circumstances, and frankly speaking as far as the relocation industry goes, there is nothing more unfavourable than cargo damage.</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-cargo-insurance\">What is cargo 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\">Cargo insurance is a type of insurance that covers/compensates a buyer or seller of goods against cargo damage or loss of cargo.</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=\"when-do-you-need-cargo-insurance\">When do you need cargo 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\">A move is long and rife with hazards. Your cargo will pass from hand to hand while on its way to you: whilst loading and unloading from trucks and containers; through ports and exam sites; and from warehouse clerk to warehouse clerk. Each step is necessary for your merchandise to ultimately reach you, but having your goods move through so many checkpoints increases the chance of 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\">We strongly recommend always getting cargo insurance to give yourself peace of mind and to save yourself from a huge hassle of sourcing replacements for damaged goods.</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=\"when-do-you-need-cargo-insurance\">What does cargo insurance cover?</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\">Cargo insurance usually covers damage caused by bad weather, loading and unloading, piracy, and other related risks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Federal law requires trucking company carriers to carry some carrier liability insurance, but the minimum requirement may not be enough protection for your shipment. Moreover, other carriers don’t have the same requirement. This is why we often recommend additional cargo insurance for our clients. It typically covers external causes of loss and damage to your shipment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Common triggers for cargo insurance include:</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>Natural disaster</li><li>Vehicle accidents</li><li>Acts of war</li><li>Piracy</li><li>Cargo abandonment</li><li>Customs rejection</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\">When a covered event causes damage to your shipment, cargo insurance pays up to the amount you insured it for, minus&nbsp;your deductibles.</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=\"when-do-you-need-cargo-insurance\">What does cargo insurance not cover?</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\">Additionally, freight and cargo insurance policies have exclusions. These are policy provisions that eliminate coverage for certain perils.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Individual freight insurance policies typically exclude:</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>Damages caused by your inadequate packing – If water seeps in and corrodes your shipment, the responsibility for the damage is on you.</li><li>Damages caused by faulty goods – If the carrier can show your product has a flaw that caused the damage, then they are not responsible for it.</li><li>Certain types of freight – Hazardous materials, certain electronics, or other types of cargo may be excluded, depending on your insurer.</li><li>Certain modes of transportation – Some freight insurance may exclude trucking. Others may exclude cargo ship, freight trains, or airplanes.</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\">The insurance industry does not have a standard cargo insurance form, so exclusions and inclusions vary widely.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Always set aside time to understand the insurance you are working with and do not hesitate to ask questions.</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-would-cargo-insurance-cost-you\">What would cargo insurance cost you?</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\">Cargo insurance pays the value of shipments, up to coverage limits, when shipments are lost or 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\">Indicate a price value to every insured item on your list. This price value is what it would cost to replace it at destination if it gets totally broken beyond repair. If you’re unsure about how some of your items like laptops, flat screen TVs may cost at your new destination, try googling for similar products from that country. Or, if your destination city is served by major online retailers like Amazon, you can search for a reference price from its website 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 final insurance premium is calculated with a simple formula:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><em>Total Value of Shipped items * Insurance Rate = Cost of Your Insurance</em></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=\"is-cargo-insurance-worth-it\">Is cargo insurance worth it?</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\">Cargo insurance protects your goods from physical loss or damage during transit. The main objective is to provide compensation should cargo fail to arrive safely at its destination. There are numerous types of cargo insurance policies and the cost and coverage vary. Policies can be applied to land, marine, or air shipments, or a combination of modes and can cover international or domestic shipping.</p>\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 up to you to consider your options and decide whether the cost of cargo insurance is justified. If you decide it is, shop around to find the best policy to suit your needs and budget. If you’re shipping unusual cargo, consider using an insurance firm that specializes in those goods or take out a single-shipment policy in consultation with your insurance agent.</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=\"when-do-you-need-cargo-insurance\">How much cargo insurance do you need?</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\">Some people may not be aware that their cargo is under-insured as they usually take the market value of their cargo to be the sum insured. Unintended under-insurance is especially common when taking up cargo insurance for transporting used or second-hand goods.</p>\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 insured should disclose to the insurer that the goods are used goods when taking up cargo insurance. Customers are also advised to check that the sum insured is the new replacement value of the used items at the final destination and also add all freight, landing charges and duty into the sum insured. If the insured does not take these precautions and the market value of used goods is less than that of new replacement goods because of depreciation or partial loss, an “average” may be applied and the insured may need to bear some 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\">The rationale behind this is that if the gross value of the goods arriving at the destination is higher than the sum insured when loss arises, the insurer may consider it as under-insured and may apply an “average”. Compensation will be deducted in proportion to the amount of under-insurance and the insured may need to bear the difference as a 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\">For example, if you ship a chair that actually costs $100 to replace but you declare its value to be $30, this would amount to under-insurance.<br>Over-insurance is undesirable as well as you would be paying an unnecessarily higher insurance premium to over-insure your items.</p>\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 safeguard against any unintended under-insurance,&nbsp;book&nbsp;a free consultation with your dedicated Relo Buddy.</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-is-cargo-insurance-calculated\">How is cargo insurance 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\">The cost of your insurance is calculated by a simple formula:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><em>Total Value of Shipped items * Insurance Rate = Cost of Your Insurance</em></p>\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>What is Total Value of Shipped Items?</strong>&nbsp;– Depending on your chosen type of insurance – Basic or Comprehensive – the total value of shipped items will either be a sum of individual item values, or one lump sum.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":4,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h4 class=\"has-black-color has-text-color has-large-font-size\">What does this mean?</h4>\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>Basic</strong>&nbsp;– Basic insurance coverage only takes effect if your entire container shipment goes missing, ie if one chair is missing but the rest of your items remain intact, no claims will be applicable. Hence, it is not necessary to detail each item’s discrete value. What matters is the lump sum amount of everything in that container.<br><strong>Comprehensive</strong>&nbsp;– Comprehensive coverage, as opposed to basic, covers both damages and missing items, and will be applicable for individual items, ie, if one TV cracks but the rest of the shipment is fine, the insurance company will insure you for the broken TV. Hence, choosing for comprehensive coverage is highly recommended.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:table -->\n<figure id=\"tablepress-11\" class=\"wp-block-table\"><table><thead><tr><th>COMPREHENSIVE</th><th>BASIC</th></tr></thead><tbody><tr><td>Higher Insurance Rates (3-6%)</td><td>Lower Insurance Rates (1-3%)</td></tr><tr><td>Covers both damaged and missing items</td><td>Covers only missing items</td></tr><tr><td>Individually damaged or missing items are claimable</td><td>Only claimable when entire shipping container is missing</td></tr><tr><td>Worth its value and highly recommended</td><td>Not the most value for money or effective coverage</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\"><strong>What affects insurance rates?</strong>&nbsp;– Basic coverage will definitely be cheaper than Comprehensive coverage&nbsp;<em>(caveat: Remember you get what you pay for!)</em></p>\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>The cost of your insurance</strong>&nbsp;is the product of your Total Value of Shipped Items and The Applicable Insurance Rates.</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-claim-cargo-insurance\">How to claim cargo 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\">Carriers are innocent until proven guilty. If damage or loss does happen, carriers will do everything within their power to limit their liability or to avoid it altogether. The burden to prove that the carrier was at fault is placed on you, and you will need to definitively prove that:</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>Loss occurred while the shipment was in the carrier’s care, custody, and control</li><li>The carrier was negligent in handling your shipment</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\">Here are the bite-sized steps taken from InterTrans Insurance’s&nbsp;instructions for preparation of loss.</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>Don’t delay your submission</strong><br>Claims have to be submitted to the Insurance company within a specific number of days of delivery. This can range from a week to two months. We strongly advice you to look out for this number on your insurance certificate</li><li><strong>Track important details<br></strong>Besides information that most would have at their fingertips, like email address, phone and street address, there may be some fields that would require specific information, such as&nbsp;<em>Packed by, unpacked by, In Storage?, Storage Location,</em>&nbsp;and&nbsp;<em>Storage dates.&nbsp;</em>Do take note of these details when you see them and keep a copy of them handy – write them down somewhere or star the email containing the attachment. Here’s a simple description of details that often gets misinterpreted:</li></ol>\n<!-- /wp:list -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Inventory Number</strong>&nbsp;– refers the “number” of the item as stated on the inventory list. All insurance companies would provide you with an inventory list. If they don’t, request for one.</li><li><strong>Item’s Room</strong>&nbsp;– refers to the room in which the item was before it was packed.&nbsp;<em>Example: kitchen, bedroom.</em></li><li><strong>Item Description</strong>&nbsp;– Describe the item you insured. If missing, be as detailed as possible.&nbsp;<em>Example: Bookcase, white stain, light brown, 90×198 cm,Adjustable feet,1 fixed shelf and 4 adjustable shelves.</em></li><li><strong>Damage</strong>&nbsp;– Indicate type:&nbsp;<em>damaged or missing</em>, and location of damage&nbsp;<em>(Example: screen/ top corner/ table leg etc)</em></li><li><strong>Item age &amp; acquired date</strong>&nbsp;– Do fill in the date you purchased as accurately as you possibly can. If an item is secondhand, then the item age would differ from the acquired date.</li><li><strong>Original Cost &amp; Replacement cost</strong>&nbsp;– Do fill in the original cost as accurately as you possibly can. For replacement cost, do a thorough online search to find the exact similiar item as much as possible and record the cost of the similar item.</li><li><strong>Amount claimed</strong>&nbsp;– If the claim is for damage, enter only the cost of repairing the item. If the claim is for loss, enter the replacement cost of the missing item or the amount stated on the valued inventory. The Underwriter reserves the right to require proof of ownership and/or value of any item claimed damaged or missing.</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\">Carriers strictly limit their liability. Even if you are able to prove that the transporter was at fault, you may still not get the full value of your goods. If you turn look at the back page of any Bill of Lading, you will find the fine print outlining exactly what a carrier agrees to cover.</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\">Final 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\">When getting Cargo insurance, always remember these tips:</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\">Avoid coverage gaps by asking questions</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 help avoid potential coverage gaps, we highly recommend that those unfamiliar with cargo insurance work with an experienced insurance agent to assist with determining answers to the following questions:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Who is responsible for insuring the goods—the buyer or the seller?<br>When does the title to the goods transfer from seller to buyer?<br>What are the insuring terms?<br>Where is the insurance company located? If a U.S. importer asks the seller to provide insurance, the insurer will likely be located overseas. This could make the claim process more complicated.”<br>Asking questions makes it more likely that you can get sufficient freight insurance coverage.</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\">Consider getting insurance through your freight broker</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 easiest and most common solution for occasional and low-volume shippers is to get cargo insurance coverage through the freight expeditor or broker. Not only can they usually get the best deals for small shippers, they have experience working with freight and cargo insurers as well.</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\">Work with an insurance agent with freight &amp; cargo insurance experience</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 any insurance policy, it helps to work with insurers and brokers who have experience. Providers with experience in multiple transportation modes, customs brokerage, and international shipment have better insight into your risks.</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, <a href=\"https://www.moovaz.com/blog/everything-you-need-to-know-about-buying-cargo-insurance/\">click her</a><a href=\"https://www.equipter.com/equipter-articles/contactor-insurance\">e.</a></p>\n<!-- /wp:paragraph -->','Everything You Need to Know About Buying Cargo Insurance','','inherit','closed','closed','','2210-revision-v1','','','2022-03-08 19:08:30','2022-03-08 19:08:30','',2210,'http://smartinsurance.tips/?p=2217',0,'revision','',0),(2216,1,'2022-03-08 19:07:18','2022-03-08 19:07:18','<!-- wp:image {\"id\":2211,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Cargo-1024x536.png\" alt=\"\" class=\"wp-image-2211\"/></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\">Despite insurance having been around for centuries, there is still a feeling that any form of insurance is a “grudge purchase”. By its nature, insurance is an intangible benefit, one that can only be tested under adverse circumstances, and frankly speaking as far as the relocation industry goes, there is nothing more unfavourable than cargo damage.</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-cargo-insurance\">What is cargo 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\">Cargo insurance is a type of insurance that covers/compensates a buyer or seller of goods against cargo damage or loss of cargo.</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=\"when-do-you-need-cargo-insurance\">When do you need cargo 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\">A move is long and rife with hazards. Your cargo will pass from hand to hand while on its way to you: whilst loading and unloading from trucks and containers; through ports and exam sites; and from warehouse clerk to warehouse clerk. Each step is necessary for your merchandise to ultimately reach you, but having your goods move through so many checkpoints increases the chance of 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\">We strongly recommend always getting cargo insurance to give yourself peace of mind and to save yourself from a huge hassle of sourcing replacements for damaged goods.</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=\"when-do-you-need-cargo-insurance\">What does cargo insurance cover?</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\">Cargo insurance usually covers damage caused by bad weather, loading and unloading, piracy, and other related risks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Federal law requires trucking company carriers to carry some carrier liability insurance, but the minimum requirement may not be enough protection for your shipment. Moreover, other carriers don’t have the same requirement. This is why we often recommend additional cargo insurance for our clients. It typically covers external causes of loss and damage to your shipment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Common triggers for cargo insurance include:</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>Natural disaster</li><li>Vehicle accidents</li><li>Acts of war</li><li>Piracy</li><li>Cargo abandonment</li><li>Customs rejection</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\">When a covered event causes damage to your shipment, cargo insurance pays up to the amount you insured it for, minus&nbsp;your deductibles.</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=\"when-do-you-need-cargo-insurance\">What does cargo insurance not cover?</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\">Additionally, freight and cargo insurance policies have exclusions. These are policy provisions that eliminate coverage for certain perils.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Individual freight insurance policies typically exclude:</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>Damages caused by your inadequate packing – If water seeps in and corrodes your shipment, the responsibility for the damage is on you.</li><li>Damages caused by faulty goods – If the carrier can show your product has a flaw that caused the damage, then they are not responsible for it.</li><li>Certain types of freight – Hazardous materials, certain electronics, or other types of cargo may be excluded, depending on your insurer.</li><li>Certain modes of transportation – Some freight insurance may exclude trucking. Others may exclude cargo ship, freight trains, or airplanes.</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\">The insurance industry does not have a standard cargo insurance form, so exclusions and inclusions vary widely.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Always set aside time to understand the insurance you are working with and do not hesitate to ask questions.</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-would-cargo-insurance-cost-you\">What would cargo insurance cost you?</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\">Cargo insurance pays the value of shipments, up to coverage limits, when shipments are lost or 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\">Indicate a price value to every insured item on your list. This price value is what it would cost to replace it at destination if it gets totally broken beyond repair. If you’re unsure about how some of your items like laptops, flat screen TVs may cost at your new destination, try googling for similar products from that country. Or, if your destination city is served by major online retailers like Amazon, you can search for a reference price from its website 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 final insurance premium is calculated with a simple formula:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><em>Total Value of Shipped items * Insurance Rate = Cost of Your Insurance</em></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=\"is-cargo-insurance-worth-it\">Is cargo insurance worth it?</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\">Cargo insurance protects your goods from physical loss or damage during transit. The main objective is to provide compensation should cargo fail to arrive safely at its destination. There are numerous types of cargo insurance policies and the cost and coverage vary. Policies can be applied to land, marine, or air shipments, or a combination of modes and can cover international or domestic shipping.</p>\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 up to you to consider your options and decide whether the cost of cargo insurance is justified. If you decide it is, shop around to find the best policy to suit your needs and budget. If you’re shipping unusual cargo, consider using an insurance firm that specializes in those goods or take out a single-shipment policy in consultation with your insurance agent.</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=\"when-do-you-need-cargo-insurance\">How much cargo insurance do you need?</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\">Some people may not be aware that their cargo is under-insured as they usually take the market value of their cargo to be the sum insured. Unintended under-insurance is especially common when taking up cargo insurance for transporting used or second-hand goods.</p>\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 insured should disclose to the insurer that the goods are used goods when taking up cargo insurance. Customers are also advised to check that the sum insured is the new replacement value of the used items at the final destination and also add all freight, landing charges and duty into the sum insured. If the insured does not take these precautions and the market value of used goods is less than that of new replacement goods because of depreciation or partial loss, an “average” may be applied and the insured may need to bear some 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\">The rationale behind this is that if the gross value of the goods arriving at the destination is higher than the sum insured when loss arises, the insurer may consider it as under-insured and may apply an “average”. Compensation will be deducted in proportion to the amount of under-insurance and the insured may need to bear the difference as a 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\">For example, if you ship a chair that actually costs $100 to replace but you declare its value to be $30, this would amount to under-insurance.<br>Over-insurance is undesirable as well as you would be paying an unnecessarily higher insurance premium to over-insure your items.</p>\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 safeguard against any unintended under-insurance,&nbsp;book&nbsp;a free consultation with your dedicated Relo Buddy.</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-is-cargo-insurance-calculated\">How is cargo insurance 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\">The cost of your insurance is calculated by a simple formula:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><em>Total Value of Shipped items * Insurance Rate = Cost of Your Insurance</em></p>\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>What is Total Value of Shipped Items?</strong>&nbsp;– Depending on your chosen type of insurance – Basic or Comprehensive – the total value of shipped items will either be a sum of individual item values, or one lump sum.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":4,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h4 class=\"has-black-color has-text-color has-large-font-size\">What does this mean?</h4>\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>Basic</strong>&nbsp;– Basic insurance coverage only takes effect if your entire container shipment goes missing, ie if one chair is missing but the rest of your items remain intact, no claims will be applicable. Hence, it is not necessary to detail each item’s discrete value. What matters is the lump sum amount of everything in that container.<br><strong>Comprehensive</strong>&nbsp;– Comprehensive coverage, as opposed to basic, covers both damages and missing items, and will be applicable for individual items, ie, if one TV cracks but the rest of the shipment is fine, the insurance company will insure you for the broken TV. Hence, choosing for comprehensive coverage is highly recommended.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:table -->\n<figure id=\"tablepress-11\" class=\"wp-block-table\"><table><thead><tr><th>COMPREHENSIVE</th><th>BASIC</th></tr></thead><tbody><tr><td>Higher Insurance Rates (3-6%)</td><td>Lower Insurance Rates (1-3%)</td></tr><tr><td>Covers both damaged and missing items</td><td>Covers only missing items</td></tr><tr><td>Individually damaged or missing items are claimable</td><td>Only claimable when entire shipping container is missing</td></tr><tr><td>Worth its value and highly recommended</td><td>Not the most value for money or effective coverage</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\"><strong>What affects insurance rates?</strong>&nbsp;– Basic coverage will definitely be cheaper than Comprehensive coverage&nbsp;<em>(caveat: Remember you get what you pay for!)</em></p>\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>The cost of your insurance</strong>&nbsp;is the product of your Total Value of Shipped Items and The Applicable Insurance Rates.</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-claim-cargo-insurance\">How to claim cargo 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\">Carriers are innocent until proven guilty. If damage or loss does happen, carriers will do everything within their power to limit their liability or to avoid it altogether. The burden to prove that the carrier was at fault is placed on you, and you will need to definitively prove that:</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>Loss occurred while the shipment was in the carrier’s care, custody, and control</li><li>The carrier was negligent in handling your shipment</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\">Here are the bite-sized steps taken from InterTrans Insurance’s&nbsp;instructions for preparation of loss.</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>Don’t delay your submission</strong><br>Claims have to be submitted to the Insurance company within a specific number of days of delivery. This can range from a week to two months. We strongly advice you to look out for this number on your insurance certificate</li><li><strong>Track important details<br></strong>Besides information that most would have at their fingertips, like email address, phone and street address, there may be some fields that would require specific information, such as&nbsp;<em>Packed by, unpacked by, In Storage?, Storage Location,</em>&nbsp;and&nbsp;<em>Storage dates.&nbsp;</em>Do take note of these details when you see them and keep a copy of them handy – write them down somewhere or star the email containing the attachment. Here’s a simple description of details that often gets misinterpreted:</li></ol>\n<!-- /wp:list -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Inventory Number</strong>&nbsp;– refers the “number” of the item as stated on the inventory list. All insurance companies would provide you with an inventory list. If they don’t, request for one.</li><li><strong>Item’s Room</strong>&nbsp;– refers to the room in which the item was before it was packed.&nbsp;<em>Example: kitchen, bedroom.</em></li><li><strong>Item Description</strong>&nbsp;– Describe the item you insured. If missing, be as detailed as possible.&nbsp;<em>Example: Bookcase, white stain, light brown, 90×198 cm,Adjustable feet,1 fixed shelf and 4 adjustable shelves.</em></li><li><strong>Damage</strong>&nbsp;– Indicate type:&nbsp;<em>damaged or missing</em>, and location of damage&nbsp;<em>(Example: screen/ top corner/ table leg etc)</em></li><li><strong>Item age &amp; acquired date</strong>&nbsp;– Do fill in the date you purchased as accurately as you possibly can. If an item is secondhand, then the item age would differ from the acquired date.</li><li><strong>Original Cost &amp; Replacement cost</strong>&nbsp;– Do fill in the original cost as accurately as you possibly can. For replacement cost, do a thorough online search to find the exact similiar item as much as possible and record the cost of the similar item.</li><li><strong>Amount claimed</strong>&nbsp;– If the claim is for damage, enter only the cost of repairing the item. If the claim is for loss, enter the replacement cost of the missing item or the amount stated on the valued inventory. The Underwriter reserves the right to require proof of ownership and/or value of any item claimed damaged or missing.</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\">Carriers strictly limit their liability. Even if you are able to prove that the transporter was at fault, you may still not get the full value of your goods. If you turn look at the back page of any Bill of Lading, you will find the fine print outlining exactly what a carrier agrees to cover.</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\">Final 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\">When getting Cargo insurance, always remember these tips:</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\">Avoid coverage gaps by asking questions</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 help avoid potential coverage gaps, we highly recommend that those unfamiliar with cargo insurance work with an experienced insurance agent to assist with determining answers to the following questions:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Who is responsible for insuring the goods—the buyer or the seller?<br>When does the title to the goods transfer from seller to buyer?<br>What are the insuring terms?<br>Where is the insurance company located? If a U.S. importer asks the seller to provide insurance, the insurer will likely be located overseas. This could make the claim process more complicated.”<br>Asking questions makes it more likely that you can get sufficient freight insurance coverage.</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\">Consider getting insurance through your freight broker</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 easiest and most common solution for occasional and low-volume shippers is to get cargo insurance coverage through the freight expeditor or broker. Not only can they usually get the best deals for small shippers, they have experience working with freight and cargo insurers as well.</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\">Work with an insurance agent with freight &amp; cargo insurance experience</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 any insurance policy, it helps to work with insurers and brokers who have experience. Providers with experience in multiple transportation modes, customs brokerage, and international shipment have better insight into your risks.</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.equipter.com/equipter-articles/contactor-insurance\">click he</a><a href=\"https://www.moovaz.com/blog/everything-you-need-to-know-about-buying-cargo-insurance/\">r</a><a href=\"https://www.equipter.com/equipter-articles/contactor-insurance\">e.</a></p>\n<!-- /wp:paragraph -->','Everything You Need to Know About Buying Cargo Insurance','','inherit','closed','closed','','2210-revision-v1','','','2022-03-08 19:07:18','2022-03-08 19:07:18','',2210,'http://smartinsurance.tips/?p=2216',0,'revision','',0),(2218,1,'2022-03-08 19:12:33','2022-03-08 19:12:33','<!-- wp:image {\"id\":2198,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Professional-liability-1024x536.png\" alt=\"\" class=\"wp-image-2198\"/></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\">Professional liability insurance&nbsp;(PLI) is insurance that protects professionals such as accountants, lawyers, and physicians against negligence and other claims initiated by their clients. Professionals who have expertise in a specific area require this type of insurance because general&nbsp;liability insurance&nbsp;policies do not offer protection against claims arising out of business or professional practices such as negligence, malpractice, or&nbsp;misrepresentation.</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-callout-heading_1-0\">KEY TAKEAWAYS</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>Professional liability insurance is used in businesses to protect against claims of negligence.</li><li>Professionals such as accountants and doctors use this insurance to protect themselves against client claims of negligence or malpractice.</li><li>Professional liability insurance is also referred to as medical malpractice insurance or errors and omissions insurance, depending on the professional.</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_1-0-5\">How Professional Liability 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_1-0-6\">Depending on the profession, professional liability insurance may have different names, such as medical&nbsp;malpractice insurance&nbsp;for the medical profession, and errors &amp; omissions insurance for real estate agents. Professional liability insurance is a specialty coverage that is not provided under homeowners\' endorsements, in-home business policies, or business-owners\' policies. It only covers claims made during the policy 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_1-0-8\">Professional liability insurance policies&nbsp;are usually arranged on a claims-made basis, which means coverage is good only for claims made during the policy period. Typical professional liability&nbsp;policies&nbsp;will indemnify&nbsp;the insured against loss arising from any claim or claims made during the policy period by reason of any covered error, omission or negligent act committed in the conduct of the insured\'s professional business during the policy period. Incidents occurring before the coverage was activated&nbsp;may not be covered, although some policies may include&nbsp;a retroactive date.</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_1-0-10\">What Professional Liability Insurance Does Not Include?</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_1-0-11\">Coverage does not include&nbsp;criminal prosecution, nor all forms of&nbsp;legal liability&nbsp;under&nbsp;civil law, only those listed in the policy. Cyber liability, covering data breach and other technology issues, may not necessarily be included in core policies. However, insurance that covers data security and other technology security-related issues is available as a separate 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_1-0-13\">Professional Liability Policy Wording</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_1-0-14\">Some professional liability&nbsp;policies are worded&nbsp;more tightly&nbsp;than others. While a number of policy wordings are designed to satisfy a stated minimum approved wording, which makes them easier to compare, others differ dramatically in the coverages they provide. For example, breach of duty may be included if the incident occurred and was reported by the policyholder to the insurer during the policy 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_1-0-16\">Wordings with major legal differences can be confusingly similar to non-lawyers. For instance, coverage for \"negligent act, error or omission\" indemnifies the policyholder against loss/circumstances incurred only as a result of any professional error or omission, or negligent act (i.e., the modifier \"negligent\" does not apply to all three categories, though any non-legal reader might assume that it did). Meanwhile, a&nbsp;\"negligent act, negligent error or negligent omission\" clause is a much more restrictive policy, which would deny coverage in a lawsuit alleging a non-negligent error or omission.</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_1-0-18\">Example of Professional Liability 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_1-0-19\">Medical malpractice insurance is a common example of a type of professional liability insurance. Medical professionals do their work under the not inconsiderable threat of facing lawsuits for alleged medical malpractice, which is defined as an act or omission by a medical provider in which they provide treatment that falls below the standard of care, resulting in injury to or the death of the patient. While most medical malpractice cases are treated as civil torts in the United States, medical malpractice insurance can offset the cost of such lawsuits to providers.&nbsp;</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.equipter.com/equipter-articles/contactor-insurance\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is Professional Liability Insurance?','','inherit','closed','closed','','2197-revision-v1','','','2022-03-08 19:12:33','2022-03-08 19:12:33','',2197,'http://smartinsurance.tips/?p=2218',0,'revision','',0),(2219,1,'2022-03-08 19:13:19','2022-03-08 19:13:19','<!-- wp:image {\"id\":2198,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Professional-liability-1024x536.png\" alt=\"\" class=\"wp-image-2198\"/></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\">Professional liability insurance&nbsp;(PLI) is insurance that protects professionals such as accountants, lawyers, and physicians against negligence and other claims initiated by their clients. Professionals who have expertise in a specific area require this type of insurance because general&nbsp;liability insurance&nbsp;policies do not offer protection against claims arising out of business or professional practices such as negligence, malpractice, or&nbsp;misrepresentation.</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-callout-heading_1-0\">KEY TAKEAWAYS</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>Professional liability insurance is used in businesses to protect against claims of negligence.</li><li>Professionals such as accountants and doctors use this insurance to protect themselves against client claims of negligence or malpractice.</li><li>Professional liability insurance is also referred to as medical malpractice insurance or errors and omissions insurance, depending on the professional.</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_1-0-5\">How Professional Liability 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_1-0-6\">Depending on the profession, professional liability insurance may have different names, such as medical&nbsp;malpractice insurance&nbsp;for the medical profession, and errors &amp; omissions insurance for real estate agents. Professional liability insurance is a specialty coverage that is not provided under homeowners\' endorsements, in-home business policies, or business-owners\' policies. It only covers claims made during the policy 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_1-0-8\">Professional liability insurance policies&nbsp;are usually arranged on a claims-made basis, which means coverage is good only for claims made during the policy period. Typical professional liability&nbsp;policies&nbsp;will indemnify&nbsp;the insured against loss arising from any claim or claims made during the policy period by reason of any covered error, omission or negligent act committed in the conduct of the insured\'s professional business during the policy period. Incidents occurring before the coverage was activated&nbsp;may not be covered, although some policies may include&nbsp;a retroactive date.</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_1-0-10\">What Professional Liability Insurance Does Not Include?</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_1-0-11\">Coverage does not include&nbsp;criminal prosecution, nor all forms of&nbsp;legal liability&nbsp;under&nbsp;civil law, only those listed in the policy. Cyber liability, covering data breach and other technology issues, may not necessarily be included in core policies. However, insurance that covers data security and other technology security-related issues is available as a separate 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_1-0-13\">Professional Liability Policy Wording</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_1-0-14\">Some professional liability&nbsp;policies are worded&nbsp;more tightly&nbsp;than others. While a number of policy wordings are designed to satisfy a stated minimum approved wording, which makes them easier to compare, others differ dramatically in the coverages they provide. For example, breach of duty may be included if the incident occurred and was reported by the policyholder to the insurer during the policy 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_1-0-16\">Wordings with major legal differences can be confusingly similar to non-lawyers. For instance, coverage for \"negligent act, error or omission\" indemnifies the policyholder against loss/circumstances incurred only as a result of any professional error or omission, or negligent act (i.e., the modifier \"negligent\" does not apply to all three categories, though any non-legal reader might assume that it did). Meanwhile, a&nbsp;\"negligent act, negligent error or negligent omission\" clause is a much more restrictive policy, which would deny coverage in a lawsuit alleging a non-negligent error or omission.</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_1-0-18\">Example of Professional Liability 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_1-0-19\">Medical malpractice insurance is a common example of a type of professional liability insurance. Medical professionals do their work under the not inconsiderable threat of facing lawsuits for alleged medical malpractice, which is defined as an act or omission by a medical provider in which they provide treatment that falls below the standard of care, resulting in injury to or the death of the patient. While most medical malpractice cases are treated as civil torts in the United States, medical malpractice insurance can offset the cost of such lawsuits to providers.&nbsp;</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, <a href=\"https://www.investopedia.com/terms/p/professional-liability-insurance.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is Professional Liability Insurance?','','inherit','closed','closed','','2197-revision-v1','','','2022-03-08 19:13:19','2022-03-08 19:13:19','',2197,'http://smartinsurance.tips/?p=2219',0,'revision','',0),(2220,1,'2022-03-08 19:13:53','2022-03-08 19:13:53','<!-- wp:image {\"id\":2195,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Contractor-insurance-1024x536.png\" alt=\"\" class=\"wp-image-2195\"/></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\"><em>What types of insurance should a contractor have? This guest post from Rachel Porter at Custom Contractors Insurance provides an overview of how to protect your business.</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Owning a contracting business carries inherent risks. There are many possibilities for people to suffer injuries or for properties to sustain damage. Whatever physical injury or property damage takes place on the jobsite, you can be sure it’s the contractor who will be on the receiving end of a claim—and may be forced to pay for it 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\">However, contractors don’t need to risk losing money or closing shop because of a claim. As long as they have proper insurance coverage, they should be able to settle claims and continue business as usual.</p>\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 some types of insurance a contractor should have or consider getting:</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>1. Commercial General Liability 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\">Commercial general liability is one of the most common types of insurance for contractors. It offers coverage against claims made by third parties for physical injury or property damage that happened during contracting work. Aside from paying the compensation amount, commercial general liability insurance also covers the legal expenses incurred during litigation.</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>2. Workers Compensation</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, workers compensation makes sure employees are covered in case of on-the-job accidents. Medical treatment, disability income, and rehabilitation costs, as well as compensation to families for work-related deaths are typically covered by this kind of policy. Workers compensation is necessary for the protection of employers from suits that injured employees or families of deceased staff may file in court.</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>3. Contractors Pollution 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\">There are strict environmental laws in place that all builders are expected to follow to the letter. Considering the ever-present risk of pollution whenever a builder operates, contractors always face the risk of getting sued by third parties for violating those environmental laws. Contractors pollution insurance can protect builders and other types of contractors from such claims, which could prove to be detrimental to their 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\"><strong>4. Automobile 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\">Contractors transport material, equipment, and workers to a construction site using a variety of vehicles and heavy trucks. In case these vehicles cause property damage, bodily injury, or death at the construction site, whoever owns those vehicles is liable to compensate third parties who file a claim. Automobile liability insurance provides coverage for any third-party claims in case of injury, damage, or loss, and it will also cover all legal costs incurred while the claims are being deliberated in court.</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>5. Builders Risk 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\">A construction project involves lots of materials and equipment that could get lost, stolen, or damaged. Builders risk insurance helps protect builders and contractors from those losses. This type of insurance is also beneficial for subcontractors and equipment owners involved in the project. It’s typically provided along with contractor\'s general liability 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\"><strong>6. Roofers 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\">Roofers insurance is a kind of general liability insurance that provides coverage for roofing contractors whose workers get involved in a workplace accident that leads to physical injury or property damage. Considering that roofers work at a certain height, the risk of accidents is so much higher, whether it’s a worker taking a misstep or a tool falling from the roof.</p>\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 just some of the types of insurance a contracting business should have or consider to protect themselves and their business. While some contractors might be concerned about paying premiums, they only have to think about the real possibility that they could be forced to close if they have to pay for claims out of their own pockets.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Don’t wait until an accident happens—and stop wondering what types of insurance should a contractor have. Always talk to an insurance professional with experience insuring contracting businesses to make sure you’re adequately covered and that you’re compliant with your state’s insurance requirements for contractors.</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.equipter.com/equipter-articles/contactor-insurance\">click here.</a></p>\n<!-- /wp:paragraph -->','What Types of Insurance Should a Contractor Have?','','inherit','closed','closed','','2194-revision-v1','','','2022-03-08 19:13:53','2022-03-08 19:13:53','',2194,'http://smartinsurance.tips/?p=2220',0,'revision','',0),(2221,1,'2022-03-08 19:15:30','2022-03-08 19:15:30','<!-- wp:image {\"id\":2189,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Small-business-1024x536.png\" alt=\"\" class=\"wp-image-2189\"/></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\">Started a new business? Find out why your business needs to start budget planning.</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\">Preparing for the future, especially from a financial standpoint, is critical for all businesses. That\'s why all businesses need to forecast their revenue and expenses to ensure they remain profitable. The best way for many small business owners to do this is through budget planning.&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\">With a monthly snapshot of your expected business expenses, you can manage your money and track your spending habits. This allows you to forecast for things like take-home pay, wages, bills, and payments for loans or other debts. It can even help you set up an emergency fund.&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\">By creating a workable budget, you can track cash on hand, expenses, and the&nbsp;revenue you need&nbsp;to keep your business growing, according to Nick Kolbenschlag, managing partner and co-founder of Crown Wealth Group.&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\">\"When you take the time to put the numbers to paper, you increase your chances of tracking them to ensure your business succeeds, helping you anticipate future needs, spending habits, profits and cash flow,\" Kolbenschlag told business.com. \"Proper budgeting also allows you to identify problems before they become major issues, giving you the ability to course-correct in real time.\"&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\">Your budget process should include updating your expenses monthly, which allows you to verify that your business is on target to maintain profitability. Here\'s everything you need to know about budget planning for your business.</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=\"what-is-budget-planning\">What is budget planning?</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\">Budget planning is the process of creating a plan to spend your money. It allows you to determine in advance whether you will have enough money to do the things you need or would like to do.&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\">Budgeting helps you save money for the long term or for when your business needs it most. If your accounting software doesn\'t have budgeting features, use a budget calculator – a tool meant to help you establish a budget, create a savings plan, and pay down 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\">\"Budget planning involves looking at external (economy, regulations and laws, etc.) and internal factors (staff, revenue, expenses, etc.) and then estimating needs, incorporating unexpected things, developing future goals, and looking at historical information and trends,\" said JeFreda Brown, CEO of Xaris Financial Enterprises.&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=\"how-do-you-create-a-budget-for-a-business\">How do you create a budget for a business?</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\">Budgets indicate how much money is spent on aspects of the business like payroll, advertising, supplies and other necessities. To create a budget, small business owners should look at revenue and expenses for the entire calendar and fiscal year. Look at what you spent the previous year and project if you will spend the same, less or more moving forward.&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 goal of budget planning is to lay out all necessary components and brainstorm your goals, according to Shahid Hanif, founder of Shufti Pro. Hanif named some steps the budgeting process should include:&nbsp;</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>Examine your revenue.</strong>&nbsp;The first step in any budgeting process is to look backward at your existing business and find all your revenue (income) sources.</li><li><strong>Subtract fixed costs.</strong>&nbsp;The second step in creating a business budget is to add up all your fixed costs, like rent.</li><li><strong>Determine variable costs.</strong>&nbsp;Variable costs include the price of labor or raw materials.</li><li><strong>Set aside a contingency fund for unexpected costs.&nbsp;</strong>These expenses don\'t arise only when it\'s convenient.</li><li><strong>Create a&nbsp;profit and loss statement.&nbsp;</strong>Once you\'ve collected all the above information, it\'s time to put it all together to create your profit and loss statement, or P&amp;L.</li><li><strong>Outline your forward-looking business budget.</strong>&nbsp;Whether you\'re a new business or you\'ve been doing this a while, projecting what will happen to your business in the future is educated guesswork.&nbsp;</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\">It\'s best to categorize your budget by fixed expenses, variable expenses and non-necessities. Fixed expenses stay constant, regardless of the number of sales, according to Axel DeAngelis, founder of NameBounce.</p>\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;Categorize your budget by&nbsp;fixed expenses and variable expenses, as well as non-necessities.</p>\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, fixed costs are contractual,\" DeAngelis said. \"An example of a fixed cost is rent. Unless your business pays percentage rent based on sales, the rent is generally contractual, with fixed increases throughout the life of the lease.\"&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\">Variable expenses can include some bills or software, as business owners tend to have more control over these expenses, and they fluctuate based on sales. DeAngelis gave sales team commissions as an example: If your business were to sell 10,000 products, you would pay your sales team more in commissions than if you sold 100 products.&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\">Non-necessities are expenses such as travel, entertainment or office perks like a flavored water cooler. This category usually does not include the monthly expenses your business needs.&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>Editor\'s note: Looking for the right accounting software for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs.&nbsp;</strong></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-information-do-you-need-to-create-a-budget-for-a-business\">What information do you need to create a budget for a business?</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\">Budgeting for your business should include anything and everything you will spend money on during the fiscal year. Failure to use a budget for your business is a missed opportunity to meet your financial 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\">According to Ken Wentworth, founder and \"on-demand CFO\" of Mr. Biz Solutions, it\'s crucial for business owners to analyze and include four key pieces of information when creating a business budget.&nbsp;</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>Revenue:&nbsp;</strong>For revenue, you must first establish your annual goal, then use your historical actuals to determine how to accurately distribute your annual amount across the next 12 months.<br></li><li><strong>Cost of goods sold (COGS):</strong>&nbsp;Once you\'ve established your monthly revenue budget, use those numbers to drive your COGS budget. Again, use your recent historical percentages to determine each COGS line. Determine the average percentage for each line based on monthly revenue projections.<br></li><li><strong>Overhead costs:</strong>&nbsp;Review your most recent year and adjust as needed. For example, you can start with a baseline of last year\'s actuals. From there, adjust reflected activity for the budget year – eliminate nonrecurring expenses from the baseline year, make additions for known one-time expenses in the budget year, make reductions for known savings, and so on.<br></li><li><strong>Margin review:</strong>&nbsp;To ensure your new budget will help you accomplish your goals, review your gross margin percentage and net margin percentage. What are your goals for those two measures? Make sure the new budget you created reflects those goals. For example, if you want to improve your gross margin from 52% to 55%, ensure your budget equates to a 55% gross margin. If not, tweak your COGS numbers to get there. This will set the budget baseline that you will use to measure your business\'s performance.&nbsp;</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\"><strong>Bottom line:</strong>&nbsp;When planning a budget, make sure you know your revenue, cost of goods sold, overhead and margins.</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=\"budget-planning-tools\">Budget planning tools</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>Accounting software</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\">Accounting software is a simple solution for budget planning. The main benefit of using accounting software is that it already has the formulas you\'ll need within its programs. All that\'s left is to add or transfer over the numbers specific to your business. An optimal accounting software program is affordable, accessible and easy to integrate with other platforms your business uses. Here are a few&nbsp;highly rated accounting software solutions&nbsp;to leverage in your budget planning.</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>Intuit QuickBooks Online:</strong>&nbsp;This is perfect for small businesses because it provides access to a live accountant and integrations with many popular platforms like Salesforce and Bill.com. Learn more in our&nbsp;review of QuickBooks Online.</li><li><strong>FreshBooks:&nbsp;</strong>This accounting software provides invoice capabilities and double-entry accounting capabilities to create a chart of accounts and run new balance sheets. Learn more in our&nbsp;FreshBooks review.</li><li><strong>Oracle NetSuite:&nbsp;</strong>You can use the cash management feature to easily manage your cash flow and monitor your business\'s bank accounts. There\'s also a budgeting and planning feature directly in the program, making forecasting and budgeting a breeze. Learn more in our&nbsp;review of Oracle NetSuite.</li><li><strong>Zoho Books:&nbsp;</strong>This software is specifically designed for&nbsp;microbusinesses&nbsp;that can run weekly, monthly and quarterly reports to track performance income and expenses. Learn more in our&nbsp;Zoho Books review.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3,\"fontSize\":\"medium\"} -->\n<h3 class=\"has-medium-font-size\"><strong>Spreadsheets and formulas</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\">A spreadsheet is one of the most common and versatile ways to budget for businesses. A spreadsheet can organize and catalog your expenses in charts and graphics. Many computers come with&nbsp;spreadsheet software, and there are also online programs such as Quip that integrate with other software, such as Salesforce. Spreadsheets use various formulas, depending on the report you\'d like to create. You can create these formulas yourself or you can use premade templates, such as those found in Excel.&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 those who haven\'t used a spreadsheet to track expenses before, start with creating a monthly average formula. This gives you a better picture of your spending over the course of the year by creating annual projections. In the final formula, you\'ll see where your spending and expenses will be at the end of the year if you continue with your current budget plan.</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>Cash flow statements</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\">A&nbsp;cash flow statement&nbsp;is an often-neglected budget tool that is vital to long-term success. While an annual budget statement shows the total amount of sales and retained debt, it doesn\'t show the individual transactions. Keeping track of these transactions could be the difference in your business losing money or retaining an overflow of 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\">A cash flow statement gives you the exact timeframe when a sale will be completed and when you\'ve acquired debt. Keeping track of these details ensures you\'re maintaining an accurate depiction of your credit and have enough cash reserves on hand to pay bills and expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"what-are-the-three-basic-budget-categories\">What are the three basic budget categories?</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 business budget should include all of your business\'s current revenue and expenses. This budget should also include estimated or projected revenue and expenses. Brown listed three basic budget categories.&nbsp;</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>Operating budget:</strong>&nbsp;This is the annual budget that the company will follow to meet its financial goals.&nbsp;</li><li><strong>Capital budget:</strong>&nbsp;This is a budget developed when the company plans to invest in fixed assets, like new machinery.&nbsp;</li><li><strong>Cash budget:</strong>&nbsp;This is a budget developed to help company leaders estimate future cash needs and plan for emergencies and future investment opportunities.&nbsp;</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\"><strong>Bottom line:</strong>&nbsp;There are three budget categories to track – your operating budget, capital budget and cash budget.</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=\"business-budget-templates\">Business budget templates</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\">Business budgeting is more complicated than balancing your personal checkbook. There are a lot of aspects to consider. It can be difficult to know where to begin. You may be afraid you\'ll overlook an important component. A business budget template gives you a blueprint you can work with when designing your budget. This can save a lot of time and frustration.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Choosing a business&nbsp;budget template&nbsp;might seem daunting as well. However, there are some key features that will help you narrow your search.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">First, you want a budget template that is easy to use. If you don\'t interact with your budget regularly, it won\'t be effective. Online templates allow you to access your budget anywhere and make edits. If the process is inconvenient, you\'ll be tempted to do the budget once and forget about 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\">According to the&nbsp;Corporate Finance Institute, customization is also important. You want a template that allows you to add items if you need to, and even change formulas if necessary. Every business is different. While budgets across businesses have many similarities, each one has its own nuances as well.</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>Budget template by business.com:</strong>&nbsp;This&nbsp;Excel template&nbsp;includes a full resource page in addition to annual and monthly business budget templates.</li><li><strong>Excel template by the Corporate Finance Institute:</strong>&nbsp;This&nbsp;operating budget&nbsp;includes revenue, variable and fixed costs, non-cash expenses, non-operating expenses and capital costs.</li><li><strong>Google Docs annual business budget:</strong>&nbsp;Simple and customizable, Google makes it easy to&nbsp;create the budget&nbsp;you need.</li><li><strong>Microsoft Office business expense budget:</strong>&nbsp;This budget&nbsp;is solely for expenses. It allows you to easily compare projected and actual expenses.</li><li><strong>Excel profit and loss statement template:</strong>&nbsp;This template&nbsp;is designed to create profit and loss statements.</li><li><strong>Marketing budget template:</strong>&nbsp;Track your&nbsp;marketing expenses&nbsp;and determine which marketing strategies are worthwhile.&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\" id=\"how-is-planning-different-from-budgeting\">How is planning different from budgeting?</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\">Business planning and creating a budget for your business are closely related, but they have different goals. Hanif said that planning is usually the first step in setting up a small business and continues to be used as a workflow progresses.&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\">\"Planning could be something simple, like building your daily agenda, or long-range enough to envision where you want to see your business in five or 10 years, whereas budgeting determines how existing financial resources are allocated. Budgets are usually set by how previous money was spent and expected income.\"&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\">Preparing a budget can be a difficult task, but once you do it, you\'ll have a much better understanding of your business and how to plan for the profitability you\'re looking for. If you regularly update your monthly budget, your annual budget will become easier to create and more accurate. When you know where your company stands financially, you can make better decisions to help your business be profitable and successful.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.business.com/articles/budget-planning/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Start Budget Planning for Your Business?','','inherit','closed','closed','','2188-revision-v1','','','2022-03-08 19:15:30','2022-03-08 19:15:30','',2188,'http://smartinsurance.tips/?p=2221',0,'revision','',0),(2226,1,'2022-04-02 20:30:45','2022-04-02 20:30:45','<!-- 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\"><em>The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities&nbsp;or other investments.</em></p>\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 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, <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','','','2022-04-02 20:30:45','2022-04-02 20:30:45','',2224,'http://smartinsurance.tips/?p=2226',0,'revision','',0),(2227,1,'2022-04-02 20:54:09','2022-04-02 20:54:09','<!-- 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','','publish','open','open','','20-tips-for-planning-a-successful-house-remodel','','','2022-04-26 14:43:50','2022-04-26 14:43:50','',0,'http://smartinsurance.tips/?p=2227',0,'post','',0),(2228,1,'2022-04-02 20:33:44','2022-04-02 20:33:44','','Home-improvement','','inherit','open','closed','','home-improvement','','','2022-04-02 20:33:44','2022-04-02 20:33:44','',2227,'http://smartinsurance.tips/wp-content/uploads/2022/04/Home-improvement.png',0,'attachment','image/png',0);
INSERT INTO `smart_posts` VALUES (2229,1,'2022-04-02 20:54:09','2022-04-02 20:54:09','<!-- 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\":2228,\"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-2228\"/></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 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. It can be easy to want a top-of-the-line renovation, but perhaps all you need are some 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, 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 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. </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 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 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 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 plumbing shut-off valves 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. </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. </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! </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 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 message center 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 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, <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','','','2022-04-02 20:54:09','2022-04-02 20:54:09','',2227,'http://smartinsurance.tips/?p=2229',0,'revision','',0),(2230,1,'2022-04-02 21:31:55','2022-04-02 21:31:55','<!-- 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','','publish','open','open','','3-growth-strategies-small-businesses-can-learn-from-google','','','2022-04-26 14:45:58','2022-04-26 14:45:58','',0,'http://smartinsurance.tips/?p=2230',0,'post','',0),(2231,1,'2022-04-02 21:28:18','2022-04-02 21:28:18','','Small-Business','','inherit','open','closed','','small-business-2','','','2022-04-02 21:28:18','2022-04-02 21:28:18','',2230,'http://smartinsurance.tips/wp-content/uploads/2022/04/Small-Business.png',0,'attachment','image/png',0),(2232,1,'2022-04-02 21:31:55','2022-04-02 21:31:55','<!-- 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\":2231,\"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-2231\"/></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, Google is worth an estimated $1 trillion<a href=\"https://www.nytimes.com/2020/01/16/technology/google-trillion-dollar-market-cap.html\">.</a> 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 <em>is </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. </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 host 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 and 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\">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, <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','','','2022-04-02 21:31:55','2022-04-02 21:31:55','',2230,'http://smartinsurance.tips/?p=2232',0,'revision','',0),(2233,1,'2022-04-02 21:41:21','2022-04-02 21:41:21','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":2406,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Privacy-1024x536.png\" alt=\"\" class=\"wp-image-2406\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Internet fraud is alive and well, and it’s costing victims thousands of dollars. In fact, the FBI’s Internet Crime Compliant Center (IC3) received a record&nbsp;791,790 complaints of online fraud in 2020, with $4.1 billion in reported losses—that’s an average of over 2,100 per day at around $5,000 per person.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Anyone can become a victim of online crime, but older adults tend to be more at risk. According to the IC3, overt 40% of all internet crime victims are over the age of 50. Sadly, this group also reports the greatest number of victims who lose more than $100,000.</p>\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 don’t expect you or your loved ones to unplug from the internet, but we do want you to stay safe online. So familiarize yourself with these common internet scams and the proactive measures you can take to avoid them.</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\">COVID-19 scams update</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\">Unfortunately, the global pandemic has inspired scammers to prey on people while we’re already worried and vulnerable. Here are the latest scams to hit the scene—and some tips to avoid them.</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\">Social media scams</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\">On top of unending photos of the banana bread everyone’s baking, social media has been full of posts offering fake COVID-19 cures, phony coronavirus tests, and false vaccination information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Between March and May 2020, researchers at the University of California, San Diego, spotted nearly 2,000 fraudulent social media posts related to fake health products and financial scams related to the pandemic.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":4,\"fontSize\":\"medium\"} -->\n<h4 class=\"has-medium-font-size\"><strong>How to avoid social media scams</strong></h4>\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>Avoid deals that are too good to be true:</strong>&nbsp;If the price is super-cheap, the product promises miracle results, or promos feature limited stock and rapid, bulk sales, it’s probably a scam.</li><li><strong>Be wary of imported goods:</strong>&nbsp;When it comes to health care solutions, imported COVID-19 tests, medicine, vaccines, or cures shouldn’t be trusted. In addition to being risky, it’s probably illegal to sell unvetted coronavirus health products from abroad.</li><li><strong>Don’t buy directly from social media:</strong>&nbsp;Sellers that use direct messaging or apps like WhatsApp or Skype to peddle their wares, are most likely frauds. If you can’t find a legit store, just hit “exit.”</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\">Robocall scams</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\">Being stuck at home has made everyone more vulnerable to robocall scams. These scams tend to target older Americans in particular. Many of these phony callers pose as government agencies or charities—entities that people are likely to trust with personal and financial information.</p>\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 Federal Trade Commission (FTC) reports more than 131,000 complaints regarding pandemic-related scam calls. But that’s nothing compared to the more than&nbsp;three billion robocalls&nbsp;Americans have received.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":4,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h4 class=\"has-black-color has-text-color has-large-font-size\"><strong>How to avoid robocalls</strong>?</h4>\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>Don’t pick up:</strong>&nbsp;If you see a call from an unknown number, let it go to voicemail. If it’s a friend, they’ll leave you a message. If you find a computer-generated voice message, block the number and report it as a scam robocall.</li><li><strong>Filter scam calls out:&nbsp;</strong>Most mobile phones have a feature or app that lets you filter out unknown callers and numbers that are likely to be fraudulent robocalls. The FTC has a&nbsp;complete guide&nbsp;to help you block scam calls on Android, iOS, and landline phones.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<p class=\"has-black-color has-text-color has-large-font-size\"><strong>Not a scam</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\">Some text messages claiming to be from the US Census Bureau have been making the rounds, leading people to fear it\'s some kind of scam. The texts ask recipients to complete a survey about the global pandemic. If you get one of these texts, you can breathe easy—these messages are legit. The Census Bureau is collecting information to track the impact of the coronavirus on US households.</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\">Scam: Coronavirus emails</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 new coronavirus impacts everyday life in surprising ways including its side effects on internet security. One trend is an uptick in scams posing as the Centers for Disease Control and Prevention (CDC), selling bogus cures, and offering great deals on the unofficial COVID-19 currency: toilet paper.</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>How to avoid this scam</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\">Scare tactics aren’t new to scammers, but there’s plenty you can do to skip the scams and protect your personal data:</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>Delete emails that claim to come from “official” sources.</strong>&nbsp;Instead, you should directly visit the websites of official sources like the CDC and the World Health Organization (WHO) for news and information.</li><li><strong>Never click links in emails from unknown senders.</strong>&nbsp;Killer deals are usually too good to be true and news of vaccinations won’t come in your email. Instead, you’ll learn about these from government officials, usually via the local or national news.</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\">Scam: Fake credit report websites</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\">By law, you’re entitled to a free copy of your credit report once every 12 months.&nbsp;<strong>AnnualCreditReport.com</strong>&nbsp;is the only government authorized website for ordering your free annual credit report, but the internet is full of imposter sites. These websites claim to offer “free credit reports,” but oftentimes they’re trying to collect personal information, like your Social Security number or date of birth, that can be used to steal your identity. Other websites might offer “free” credit monitoring, but then charge a fee to your credit card after a trial 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\">SafeWise recommends&nbsp;checking your credit report&nbsp;at least once per year. If you find unauthorized activity and think you’ve been a victim of identity theft, place a fraud alert on your credit report.</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>How to avoid this scam</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\">Don’t respond to emails, pop-up ads, or social media ads that offer a free credit report. Go through AnnualCreditReport.com instead. Be aware that some fake credit report websites have URLs that are very similar to AnnualCreditReport, so type the address in your search bar carefully and verify you’re on the legitimate site before entering any information.</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\">Scam: Online romance</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\">Dating websites can be great for meeting new people, but unfortunately, romance fraudsters also use these sites to find their victims. And, according to the FBI, romance scams result in&nbsp;greater&nbsp;financial&nbsp;loss&nbsp;than any other internet-facilitated crime, with the average victim losing over $100,000.</p>\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 type of fraud takes on many different forms, but typically it starts with the scammer developing a supposed online romance with the victim. Once the scammer gains the victim’s trust, they’ll ask for money. They often claim to need money due to a personal emergency or to buy a plane ticket to visit the victim. Romance scammers have even gone so far as to persuade their victims to give them access to private financial accounts. It’s also not uncommon for these conniving criminals to convince their victims to commit financial fraud on their behalf.</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>How to avoid this scam</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\">Older adults should be especially cautious using online dating websites, as some romance fraudsters specifically target older citizens. What’s more, women are victimized at a much greater rate than men. No matter what your age or gender, review our&nbsp;tips for dating online safely&nbsp;to help minimize the chance you’ll get duped. Don’t hesitate to break contact with anyone who tries to scam you, and you should always report them to the dating website.</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\">Scam: Bogus pop-up security warnings</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\">This scam preys on consumers’ fears. A bogus pop-up warns the user that their computer has just been infected by a virus and directs them to download security software immediately.</p>\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, the goal of this scam is to make money by tricking the victim into purchasing rogue software. Other times the supposed security software is free, which helps encourage the victim to download it. Once installed, the software takes control of the victim’s computer, where it can wreak havoc or burrow into your private, stored information. Even experienced internet users can be fooled by this scam, as many phony pop-ups look like legitimate messages coming from Windows or a leading computer security provider.</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>How to avoid this scam</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 of the most effective ways to help avoid this scam is to protect your computer with genuine antivirus software from a reputable security company. A good option is&nbsp;<strong>Norton AntiVirus</strong>, which helps defend your computer against scams as well as viruses and phishing attempts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<p class=\"has-black-color has-text-color has-large-font-size\"><strong>Product scams are booming</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\">Unfortunately, a barrage of imposter brands are popping up all over social media and on favorite online shopping spots (like Amazon). It can be hard to know the difference between fakes and genuine products. Here are some pointers to help you spot a product scam:</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>Read customer reviews</strong>. Too many super-positive reviews can be a red flag. Also watch for repeated phrases and language.&nbsp;</li><li><strong>Scrutinize photos</strong>. Beware of photos that look like stock images. Know for sure by checking the origin of the image.</li><li><strong>Get help</strong>. There are online tools to help you spot the fakes. One of our staff experts uses&nbsp;<strong>Fakespot</strong>&nbsp;to help identify scam companies.</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\">What to do if you’re scammed?</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\">Cyber criminals are always thinking of new ways to fool people, so use caution anytime you’re on the web. If you fall for a cyber scam (or think you may have), don’t be embarrassed. Gather any relevant information about the incident and then&nbsp;file a complaint with the IC3. An analyst from the IC3 will review and research your complaint and send out information about the incident to the appropriate law enforcement or regulatory agencies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Talk to your loved ones about these common online scams, and encourage them to tell you if they think they’re being scammed. Whether they’re being scammed or have narrowly missed being scammed, recommend reputable&nbsp;antivirus software&nbsp;for their use and protection. Particularly if you have kids, make them aware of these and other potential online dangers before they encounter them. We also recommend using parent control software&nbsp;to help protect your kids from cybercriminals. With your friends and family properly warned and informed, you can rest at ease knowing the people you care about are cared for.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.safewise.com/blog/internet-safety-avoid-online-scams/\">click here.</a></p>\n<!-- /wp:paragraph -->','Internet Safety: How to Avoid Online Scams?','','publish','open','open','','internet-safety-how-to-avoid-online-scams','','\nhttps://www.safewise.com/blog/internet-safety-avoid-online-scams/','2022-04-26 14:47:54','2022-04-26 14:47:54','',0,'http://smartinsurance.tips/?p=2233',0,'post','',0),(2234,1,'2022-04-02 21:41:21','2022-04-02 21:41:21','<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Internet fraud is alive and well, and it’s costing victims thousands of dollars. In fact, the FBI’s Internet Crime Compliant Center (IC3) received a record 791,790 complaints of online fraud in 2020, with $4.1 billion in reported losses—that’s an average of over 2,100 per day at around $5,000 per person.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Anyone can become a victim of online crime, but older adults tend to be more at risk. According to the IC3, overt 40% of all internet crime victims are over the age of 50. Sadly, this group also reports the greatest number of victims who lose more than $100,000.</p>\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 don’t expect you or your loved ones to unplug from the internet, but we do want you to stay safe online. So familiarize yourself with these common internet scams and the proactive measures you can take to avoid them.</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\">COVID-19 scams update</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\">Unfortunately, the global pandemic has inspired scammers to prey on people while we’re already worried and vulnerable. Here are the latest scams to hit the scene—and some tips to avoid them.</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\">Social media scams</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\">On top of unending photos of the banana bread everyone’s baking, social media has been full of posts offering fake COVID-19 cures, phony coronavirus tests, and false vaccination information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Between March and May 2020, researchers at the University of California, San Diego, spotted nearly 2,000 fraudulent social media posts related to fake health products and financial scams related to the pandemic.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":4,\"fontSize\":\"medium\"} -->\n<h4 class=\"has-medium-font-size\"><strong>How to avoid social media scams</strong></h4>\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>Avoid deals that are too good to be true:</strong>&nbsp;If the price is super-cheap, the product promises miracle results, or promos feature limited stock and rapid, bulk sales, it’s probably a scam.</li><li><strong>Be wary of imported goods:</strong>&nbsp;When it comes to health care solutions, imported COVID-19 tests, medicine, vaccines, or cures shouldn’t be trusted. In addition to being risky, it’s probably illegal to sell unvetted coronavirus health products from abroad.</li><li><strong>Don’t buy directly from social media:</strong>&nbsp;Sellers that use direct messaging or apps like WhatsApp or Skype to peddle their wares, are most likely frauds. If you can’t find a legit store, just hit “exit.”</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\">Robocall scams</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\">Being stuck at home has made everyone more vulnerable to robocall scams. These scams tend to target older Americans in particular. Many of these phony callers pose as government agencies or charities—entities that people are likely to trust with personal and financial information.</p>\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 Federal Trade Commission (FTC) reports more than 131,000 complaints regarding pandemic-related scam calls. But that’s nothing compared to the more than three billion robocalls Americans have received.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":4,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h4 class=\"has-black-color has-text-color has-medium-font-size\"><strong>How to avoid robocalls</strong></h4>\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>Don’t pick up:</strong> If you see a call from an unknown number, let it go to voicemail. If it’s a friend, they’ll leave you a message. If you find a computer-generated voice message, block the number and report it as a scam robocall.</li><li><strong>Filter scam calls out: </strong>Most mobile phones have a feature or app that lets you filter out unknown callers and numbers that are likely to be fraudulent robocalls. The FTC has a complete guide to help you block scam calls on Android, iOS, and landline phones.</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>Not a scam</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\">Some text messages claiming to be from the US Census Bureau have been making the rounds, leading people to fear it\'s some kind of scam. The texts ask recipients to complete a survey about the global pandemic. If you get one of these texts, you can breathe easy—these messages are legit. The Census Bureau is collecting information to track the impact of the coronavirus on US households.</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\">Scam: Coronavirus emails</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 new coronavirus impacts everyday life in surprising ways including its side effects on internet security. One trend is an uptick in scams posing as the Centers for Disease Control and Prevention (CDC), selling bogus cures, and offering great deals on the unofficial COVID-19 currency: toilet paper.</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>How to avoid this scam</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\">Scare tactics aren’t new to scammers, but there’s plenty you can do to skip the scams and protect your personal data:</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>Delete emails that claim to come from “official” sources.</strong>&nbsp;Instead, you should directly visit the websites of official sources like the CDC and the World Health Organization (WHO) for news and information.</li><li><strong>Never click links in emails from unknown senders.</strong>&nbsp;Killer deals are usually too good to be true and news of vaccinations won’t come in your email. Instead, you’ll learn about these from government officials, usually via the local or national news.</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\">To learn more about avoiding COVID-19 scams, check out these articles from the Federal Trade Commission, Food and Drug Administration, and Norton.</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\">Scam: Fake credit report websites</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\">By law, you’re entitled to a free copy of your credit report once every 12 months. <strong>AnnualCreditReport.com</strong> is the only government authorized website for ordering your free annual credit report, but the internet is full of imposter sites. These websites claim to offer “free credit reports,” but oftentimes they’re trying to collect personal information, like your Social Security number or date of birth, that can be used to steal your identity. Other websites might offer “free” credit monitoring, but then charge a fee to your credit card after a trial 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\">SafeWise recommends checking your credit report at least once per year. If you find unauthorized activity and think you’ve been a victim of identity theft, place a fraud alert on your credit report.</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>How to avoid this scam</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\">Don’t respond to emails, pop-up ads, or social media ads that offer a free credit report. Go through AnnualCreditReport.com instead. Be aware that some fake credit report websites have URLs that are very similar to AnnualCreditReport, so type the address in your search bar carefully and verify you’re on the legitimate site before entering any information.</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\">Scam: Online romance</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\">Dating websites can be great for meeting new people, but unfortunately, romance fraudsters also use these sites to find their victims. And, according to the FBI, romance scams result in greater financial loss than any other internet-facilitated crime, with the average victim losing over $100,000.</p>\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 type of fraud takes on many different forms, but typically it starts with the scammer developing a supposed online romance with the victim. Once the scammer gains the victim’s trust, they’ll ask for money. They often claim to need money due to a personal emergency or to buy a plane ticket to visit the victim. Romance scammers have even gone so far as to persuade their victims to give them access to private financial accounts. It’s also not uncommon for these conniving criminals to convince their victims to commit financial fraud on their behalf.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3><strong>How to avoid this scam</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\">Older adults should be especially cautious using online dating websites, as some romance fraudsters specifically target older citizens. What’s more, women are victimized at a much greater rate than men. No matter what your age or gender, review our tips for dating online safely to help minimize the chance you’ll get duped. Don’t hesitate to break contact with anyone who tries to scam you, and you should always report them to the dating website.</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\">Scam: Bogus pop-up security warnings</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\">This scam preys on consumers’ fears. A bogus pop-up warns the user that their computer has just been infected by a virus and directs them to download security software immediately.</p>\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, the goal of this scam is to make money by tricking the victim into purchasing rogue software. Other times the supposed security software is free, which helps encourage the victim to download it. Once installed, the software takes control of the victim’s computer, where it can wreak havoc or burrow into your private, stored information. Even experienced internet users can be fooled by this scam, as many phony pop-ups look like legitimate messages coming from Windows or a leading computer security provider.</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>How to avoid this scam</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 of the most effective ways to help avoid this scam is to protect your computer with genuine antivirus software from a reputable security company. A good option is <strong>Norton AntiVirus</strong>, which helps defend your computer against scams as well as viruses and phishing attempts.</p>\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>Product scams are booming</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\">Unfortunately, a barrage of imposter brands are popping up all over social media and on favorite online shopping spots (like Amazon). It can be hard to know the difference between fakes and genuine products. Here are some pointers to help you spot a product scam:</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>Read customer reviews</strong>. Too many super-positive reviews can be a red flag. Also watch for repeated phrases and language. </li><li><strong>Scrutinize photos</strong>. Beware of photos that look like stock images. Know for sure by checking the origin of the image.</li><li><strong>Get help</strong>. There are online tools to help you spot the fakes. One of our staff experts uses <strong>Fakespot</strong> to help identify scam companies.</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\">What to do if you’re scammed</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\">Cyber criminals are always thinking of new ways to fool people, so use caution anytime you’re on the web. If you fall for a cyber scam (or think you may have), don’t be embarrassed. Gather any relevant information about the incident and then file a complaint with the IC3. An analyst from the IC3 will review and research your complaint and send out information about the incident to the appropriate law enforcement or regulatory agencies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Talk to your loved ones about these common online scams, and encourage them to tell you if they think they’re being scammed. Whether they’re being scammed or have narrowly missed being scammed, recommend reputable antivirus software for their use and protection. Particularly if you have kids, make them aware of these and other potential online dangers before they encounter them. We also recommend using parent control software to help protect your kids from cybercriminals. With your friends and family properly warned and informed, you can rest at ease knowing the people you care about are cared for.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.safewise.com/blog/internet-safety-avoid-online-scams/\">click here.</a></p>\n<!-- /wp:paragraph -->','Internet Safety: How to Avoid Online Scams','','inherit','closed','closed','','2233-revision-v1','','','2022-04-02 21:41:21','2022-04-02 21:41:21','',2233,'http://smartinsurance.tips/?p=2234',0,'revision','',0),(2235,1,'2022-04-02 21:44:40','2022-04-02 21:44:40','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":2408,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Leadership-1024x536.png\" alt=\"\" class=\"wp-image-2408\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The&nbsp;business environment has never been more demanding&nbsp;than it is right now. Factors that would have been exceptional not long ago—global competition, turbulent markets, demanding shareholders and customers, and constantly changing technology—are an everyday fact of 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\">More than ever,&nbsp;successful organizations depend on the quality of their leadership.&nbsp;And&nbsp;successful leadership depends on broad-strokes preparation&nbsp;based on principles you can apply in any situation, however volatile.</p>\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 some foundational principles that will make you a more effective leader:</p>\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>Be both flexible and resolute.</strong>&nbsp;To be an effective leader, you have to learn to balance being unbending and being adaptable. Great leaders know how to go with the flow without losing direction, moving their organization forward with resiliency and alertness.</p>\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>Delegate but don’t be demanding.</strong>&nbsp;Too many leaders&nbsp;feel they need to control every little thing. Allow others to do their job and do it well. When you delegate wisely and often, you’re developing leadership skills, confidence and trust within your team.</p>\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>Set direction but make it compelling.</strong>&nbsp;Every employee needs some degree of direction. Set specific and measurable goals with your employees, then regularly monitor their progress against their own goals as well as their contribution toward organizational goals.</p>\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>Communicate with honesty and clarity.&nbsp;</strong>Many leaders don’t communicate clearly enough or often enough. Make the effort to inform, report, and communicate concisely so people are free to work without information gaps.</p>\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>Be accessible and available.</strong>&nbsp;At its core, your leadership is all about your people. When someone needs you, it’s time to look up, make eye contact, set aside your work and your phone and any other distractions, and focus on the person standing in front of 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\"><strong>Don’t just solve problems, create lasting solutions.</strong>&nbsp;There will always be problems, and there will always be a need for leaders who can create timely solutions that endure. Too many leaders settle for quick fixes that often cause bigger problems down the road. Focus on healing the cause of the problem instead of treating the symptoms.</p>\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>Consistently recognize the achievements of others.</strong>&nbsp;&nbsp;Every employee wants to do a good job. And when they do, they want recognition from their leader. The simple act of recognizing and rewarding employees for a job well done is enough to set you apart as a leader.</p>\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>Lead From Within:&nbsp;</strong>If you want to grow into a truly effective leader, start today to cultivate these skills. Then, when the time comes, you’ll be prepared to steer your company and people in the right direction.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.lollydaskal.com/leadership/7-ways-to-be-a-more-effective-leader/\">click here.</a></p>\n<!-- /wp:paragraph -->','7 Ways to Be a More Effective Leader','','publish','open','open','','7-ways-to-be-a-more-effective-leader','','\nhttps://www.lollydaskal.com/leadership/7-ways-to-be-a-more-effective-leader/','2022-04-26 14:50:06','2022-04-26 14:50:06','',0,'http://smartinsurance.tips/?p=2235',0,'post','',0),(2236,1,'2022-04-02 21:43:02','2022-04-02 21:43:02','','Privacy','','inherit','open','closed','','privacy','','','2022-04-02 21:43:02','2022-04-02 21:43:02','',2235,'http://smartinsurance.tips/wp-content/uploads/2022/04/Privacy.png',0,'attachment','image/png',0),(2237,1,'2022-04-02 21:44:40','2022-04-02 21:44:40','<!-- wp:image {\"id\":2236,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Privacy-1024x536.png\" alt=\"\" class=\"wp-image-2236\"/></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 business environment has never been more demanding than it is right now. Factors that would have been exceptional not long ago—global competition, turbulent markets, demanding shareholders and customers, and constantly changing technology—are an everyday fact of 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\">More than ever, successful organizations depend on the quality of their leadership. And successful leadership depends on broad-strokes preparation based on principles you can apply in any situation, however volatile.</p>\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 some foundational principles that will make you a more effective leader:</p>\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>Be both flexible and resolute.</strong>&nbsp;To be an effective leader, you have to learn to balance being unbending and being adaptable. Great leaders know how to go with the flow without losing direction, moving their organization forward with resiliency and alertness.</p>\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>Delegate but don’t be demanding.</strong>&nbsp;Too many leaders&nbsp;feel they need to control every little thing. Allow others to do their job and do it well. When you delegate wisely and often, you’re developing leadership skills, confidence and trust within your team.</p>\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>Set direction but make it compelling.</strong>&nbsp;Every employee needs some degree of direction. Set specific and measurable goals with your employees, then regularly monitor their progress against their own goals as well as their contribution toward organizational goals.</p>\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>Communicate with honesty and clarity.&nbsp;</strong>Many leaders don’t communicate clearly enough or often enough. Make the effort to inform, report, and communicate concisely so people are free to work without information gaps.</p>\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>Be accessible and available.</strong>&nbsp;At its core, your leadership is all about your people. When someone needs you, it’s time to look up, make eye contact, set aside your work and your phone and any other distractions, and focus on the person standing in front of 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\"><strong>Don’t just solve problems, create lasting solutions.</strong>&nbsp;There will always be problems, and there will always be a need for leaders who can create timely solutions that endure. Too many leaders settle for quick fixes that often cause bigger problems down the road. Focus on healing the cause of the problem instead of treating the symptoms.</p>\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>Consistently recognize the achievements of others.</strong>&nbsp;&nbsp;Every employee wants to do a good job. And when they do, they want recognition from their leader. The simple act of recognizing and rewarding employees for a job well done is enough to set you apart as a leader.</p>\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>Lead From Within: </strong>If you want to grow into a truly effective leader, start today to cultivate these skills. Then, when the time comes, you’ll be prepared to steer your company and people in the right direction.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.lollydaskal.com/leadership/7-ways-to-be-a-more-effective-leader/\">click here.</a></p>\n<!-- /wp:paragraph -->','7 Ways to Be a More Effective Leader','','inherit','closed','closed','','2235-revision-v1','','','2022-04-02 21:44:40','2022-04-02 21:44:40','',2235,'http://smartinsurance.tips/?p=2237',0,'revision','',0),(2238,1,'2022-04-02 21:49:33','2022-04-02 21:49:33','<!-- 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','','publish','open','open','','sleep-plays-an-important-role-in-heart-health','','','2022-04-26 14:51:12','2022-04-26 14:51:12','',0,'http://smartinsurance.tips/?p=2238',0,'post','',0),(2239,1,'2022-04-02 21:45:56','2022-04-02 21:45:56','','Health','','inherit','open','closed','','health','','','2022-04-02 21:45:56','2022-04-02 21:45:56','',2238,'http://smartinsurance.tips/wp-content/uploads/2022/04/Health.png',0,'attachment','image/png',0),(2240,1,'2022-04-02 21:49:33','2022-04-02 21:49:33','<!-- wp:image {\"id\":2239,\"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-2239\"/></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 high blood pressure, elevated cholesterol and atherosclerosis. And habitual short sleep increases the chance of cardiovascular events.  <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 <br></strong>An analysis of past studies suggests not getting enough Z’s significantly increases the risk of developing Type 2 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 heart attack or 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 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 sleep apnea or insomnia also are far more likely to have heart arrhythmias, plaque buildup, heart failure and coronary artery disease 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.   </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:separator -->\n<hr class=\"wp-block-separator\"/>\n<!-- /wp:separator -->\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, <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','','','2022-04-02 21:49:33','2022-04-02 21:49:33','',2238,'http://smartinsurance.tips/?p=2240',0,'revision','',0),(2241,1,'2022-04-02 21:54:42','2022-04-02 21:54:42','<!-- 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?','','publish','open','open','','how-to-wash-your-car','','','2022-04-26 14:54:16','2022-04-26 14:54:16','',0,'http://smartinsurance.tips/?p=2241',0,'post','',0),(2242,1,'2022-04-02 21:50:59','2022-04-02 21:50:59','','Product-review-','','inherit','open','closed','','product-review','','','2022-04-02 21:50:59','2022-04-02 21:50:59','',2241,'http://smartinsurance.tips/wp-content/uploads/2022/04/Product-review-.png',0,'attachment','image/png',0),(2243,1,'2022-04-02 21:51:32','2022-04-02 21:51:32','','Product-review-1-1','','inherit','open','closed','','product-review-1-1','','','2022-04-02 21:51:32','2022-04-02 21:51:32','',2241,'http://smartinsurance.tips/wp-content/uploads/2022/04/Product-review-1-1.png',0,'attachment','image/png',0),(2244,1,'2022-04-02 21:54:42','2022-04-02 21:54:42','<!-- 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\":2243,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Product-review-1-1-1024x536.png\" alt=\"\" class=\"wp-image-2243\"/></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 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> 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, <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','','','2022-04-02 21:54:42','2022-04-02 21:54:42','',2241,'http://smartinsurance.tips/?p=2244',0,'revision','',0),(2245,1,'2022-04-02 22:07:09','2022-04-02 22:07:09','<!-- 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?','','publish','open','open','','what-is-prepaid-insurance','','','2022-04-26 14:56:37','2022-04-26 14:56:37','',0,'http://smartinsurance.tips/?p=2245',0,'post','',0),(2246,1,'2022-04-02 21:56:59','2022-04-02 21:56:59','','PC-insurance-1','','inherit','open','closed','','pc-insurance-1','','','2022-04-02 21:56:59','2022-04-02 21:56:59','',2245,'http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-1.png',0,'attachment','image/png',0),(2247,1,'2022-04-02 22:07:09','2022-04-02 22:07:09','<!-- 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\":2246,\"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-2246\"/></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 premium 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 car insurance 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 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 home insurance 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 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. 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, <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','','','2022-04-02 22:07:09','2022-04-02 22:07:09','',2245,'http://smartinsurance.tips/?p=2247',0,'revision','',0),(2248,1,'2022-04-02 22:16:46','2022-04-02 22:16:46','<!-- 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?','','publish','open','open','','what-is-property-damage-liability-insurance','','','2022-04-26 14:57:53','2022-04-26 14:57:53','',0,'http://smartinsurance.tips/?p=2248',0,'post','',0),(2249,1,'2022-04-02 22:09:05','2022-04-02 22:09:05','','PC-insurance-3','','inherit','open','closed','','pc-insurance-3','','','2022-04-02 22:09:05','2022-04-02 22:09:05','',2248,'http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-3.png',0,'attachment','image/png',0),(2250,1,'2022-04-02 22:16:46','2022-04-02 22:16:46','<!-- wp:image {\"id\":2249,\"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-2249\"/></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 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 car insurance policy. Car insurance policies typically contain the following coverage types: </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: </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. </li><li><strong>Medical Payments or Personal Injury Protection (PIP):</strong> 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. </li><li><strong>Collision: </strong>Collision insurance pays for repairs or replacement costs for the policyholder’s vehicle after an accident.  </li><li><strong>Comprehensive:</strong> Comprehensive coverage reimburses policyholders for losses from theft or weather damage. </li><li><strong>Uninsured/Underinsured Motorist Coverage: </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. </li><li><strong>Property Damage Liability: </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.  </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. How much your car insurance policy will cost is dependent on your location, vehicle, driving record, age, gender, insurance options, and coverage amounts. </p>\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. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <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','','','2022-04-02 22:16:46','2022-04-02 22:16:46','',2248,'http://smartinsurance.tips/?p=2250',0,'revision','',0),(2251,1,'2022-04-02 22:29:31','2022-04-02 22:29:31','<!-- 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','','publish','open','open','','term-life-vs-whole-life-insurance-understanding-the-difference','','','2022-04-26 14:58:54','2022-04-26 14:58:54','',0,'http://smartinsurance.tips/?p=2251',0,'post','',0),(2252,1,'2022-04-02 22:18:43','2022-04-02 22:18:43','','PC-insurance-4','','inherit','open','closed','','pc-insurance-4','','','2022-04-02 22:18:43','2022-04-02 22:18:43','',2251,'http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-4.png',0,'attachment','image/png',0),(2276,1,'2022-04-05 20:33:41','2022-04-05 20:33:41','<!-- wp:image {\"id\":2252,\"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-2252\"/></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 provided by USAA 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','','','2022-04-05 20:33:41','2022-04-05 20:33:41','',2251,'http://smartinsurance.tips/?p=2276',0,'revision','',0),(2253,1,'2022-04-02 22:29:31','2022-04-02 22:29:31','<!-- wp:image {\"id\":2252,\"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-2252\"/></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 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 {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>Table of Contents</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>What Is Term Life Insurance?</strong></li><li><strong>What Is Whole Life Insurance?</strong></li><li><strong>Term Life vs. Whole Life Insurance: Comparing Features</strong></li><li><strong>Term Life vs. Whole Life Insurance: Comparing Cost</strong></li><li><strong>Term Life vs. Whole Life Insurance: Which Is the Best Choice?</strong></li><li><strong>Other Types of Life Insurance Policies</strong></li></ul>\n<!-- /wp:list -->\n\n<!-- wp:separator -->\n<hr class=\"wp-block-separator\"/>\n<!-- /wp:separator -->\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:separator -->\n<hr class=\"wp-block-separator\"/>\n<!-- /wp:separator -->\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 a few ways you can capture the cash value 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:separator -->\n<hr class=\"wp-block-separator\"/>\n<!-- /wp:separator -->\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:separator -->\n<hr class=\"wp-block-separator\"/>\n<!-- /wp:separator -->\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 provided by Policygenius and Haven Life Insurance Agency 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 provided by USAA 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:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You can click the links in the paragraphs above to get quick estimates for your own term life and whole life insurance cost. Keep in mind that prices will vary depending on a number of factors, including the company you choose.</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:separator -->\n<hr class=\"wp-block-separator\"/>\n<!-- /wp:separator -->\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> 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, <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','','','2022-04-02 22:29:31','2022-04-02 22:29:31','',2251,'http://smartinsurance.tips/?p=2253',0,'revision','',0),(2254,1,'2022-04-02 22:42:18','2022-04-02 22:42:18','<!-- 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','','publish','open','open','','homeowners-insurance-and-tree-damage','','','2022-04-26 15:00:08','2022-04-26 15:00:08','',0,'http://smartinsurance.tips/?p=2254',0,'post','',0),(2255,1,'2022-04-02 22:30:27','2022-04-02 22:30:27','','PC-insurance-5','','inherit','open','closed','','pc-insurance-5','','','2022-04-02 22:30:27','2022-04-02 22:30:27','',2254,'http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-5.png',0,'attachment','image/png',0),(2278,1,'2022-04-05 20:37:50','2022-04-05 20:37:50','<!-- wp:image {\"id\":2255,\"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-2255\"/></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\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-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\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-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\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-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\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-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\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-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','','','2022-04-05 20:37:50','2022-04-05 20:37:50','',2254,'http://smartinsurance.tips/?p=2278',0,'revision','',0),(2256,1,'2022-04-02 22:42:18','2022-04-02 22:42:18','<!-- wp:image {\"id\":2255,\"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-2255\"/></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 home insurance companies 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. </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. </li><li>If you have particularly valuable trees on your property, you should consider how much it would cost to replace them when determining how much homeowners insurance you need. </li><li>Standard homeowners insurance 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 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 $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, 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, it belongs to your neighbor. 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 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 scheduled personal property insurance. You can choose to increase these limits, but it will likely cause your homeowners insurance premium 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 actual cash value (ACV) or replacement cost value (RCV) 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 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\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>What is the best home insurance company?</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\">Finding the best home insurance company depends on a lot of factors. It is a good idea to compare quotes from some of the top home insurers in the country using criteria like customer service scores from J.D. Power, financial strength ratings from AM Best and average premiums. Not every homeowner has the same needs, so it is smart to look at several options and speak with a licensed insurance professional.</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 cover diseased tree removal?</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\">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\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>If a falling tree damages my roof, will that be covered by 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\">A roof can be expensive to replace, but most standard policies will cover tree damage to a roof 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\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Do trees add value to my home?</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\">Arbor Day Foundation 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 increase the value of your home 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\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>What types of trees are the safest?</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\">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\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>What types of trees can’t be trusted?</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\">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 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, <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','','','2022-04-02 22:42:18','2022-04-02 22:42:18','',2254,'http://smartinsurance.tips/?p=2256',0,'revision','',0),(2257,1,'2022-04-02 22:51:28','2022-04-02 22:51:28','<!-- 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?','','publish','open','open','','does-home-insurance-cover-fences','','','2022-04-26 15:01:04','2022-04-26 15:01:04','',0,'http://smartinsurance.tips/?p=2257',0,'post','',0),(2258,1,'2022-04-02 22:45:21','2022-04-02 22:45:21','','PC-insurance-6','','inherit','open','closed','','pc-insurance-6','','','2022-04-02 22:45:21','2022-04-02 22:45:21','',2257,'http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-6.png',0,'attachment','image/png',0),(2259,1,'2022-04-02 22:51:28','2022-04-02 22:51:28','<!-- wp:image {\"id\":2258,\"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-2258\"/></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 home insurance 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 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 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 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 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 windstorm insurance 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 not covered 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 the cost of your home insurance 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 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, <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','','','2022-04-02 22:51:28','2022-04-02 22:51:28','',2257,'http://smartinsurance.tips/?p=2259',0,'revision','',0),(2260,1,'2022-04-02 22:57:33','2022-04-02 22:57:33','<!-- 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?','','publish','open','open','','how-to-create-a-home-inventory','','','2022-04-26 15:02:46','2022-04-26 15:02:46','',0,'http://smartinsurance.tips/?p=2260',0,'post','',0),(2261,1,'2022-04-02 22:52:45','2022-04-02 22:52:45','','PC-insurance-8','','inherit','open','closed','','pc-insurance-8','','','2022-04-02 22:52:45','2022-04-02 22:52:45','',2260,'http://smartinsurance.tips/wp-content/uploads/2022/04/PC-insurance-8.png',0,'attachment','image/png',0),(2279,1,'2022-04-05 20:39:31','2022-04-05 20:39:31','<!-- 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\":2261,\"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-2261\"/></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','','','2022-04-05 20:39:31','2022-04-05 20:39:31','',2260,'http://smartinsurance.tips/?p=2279',0,'revision','',0),(2262,1,'2022-04-02 22:57:33','2022-04-02 22:57:33','<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><em>A list of your belongings will make filing an insurance claim much easier</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":2261,\"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-2261\"/></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:separator -->\n<hr class=\"wp-block-separator\"/>\n<!-- /wp:separator -->\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 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 a home inventory 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 </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> – 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 </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> 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 – </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 – </strong>Jewelry, art and collectibles may have increased in value and may need special coverage 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 <em>before</em> there is a loss.</li><li><strong>Don\'t forget off-site items</strong> – Your 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> – Store sales receipts, purchase contracts, and appraisals with your list.</li><li><strong>Don\'t get overwhelmed</strong> – 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 -->\n<h2>&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color 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> – 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> – 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> – Keep a copy on an external drive or online storage account.</li><li><strong>Understand your app</strong> – 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, <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','','','2022-04-02 22:57:33','2022-04-02 22:57:33','',2260,'http://smartinsurance.tips/?p=2262',0,'revision','',0),