(3654,1,'2023-11-22 21:35:36','2023-11-22 21:35:36','<!-- wp:paragraph -->\n<p>If someone borrows my car, are they insured?</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\":3653,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-44-1024x1024.png\" alt=\"\" class=\"wp-image-3653\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">Say your best friend wants to borrow your car for a few hours to run errands while their car is in the shop. On one hand, they wouldn’t ask unless they really needed it—their cat’s out of food, or their brother needs a ride to work. On the other hand, they are a fast driver and have been in a fender-bender or two.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">Before you hand over your keys, it’s a good idea to confirm how insurance applies if you let someone else drive your car. What happens if your friend crashes your car and hurts another driver? What if they get a ticket? Consider the answers before you let anyone else slide behind the wheel of your vehicle. It’s also wise to understand these potential issues before you drive anyone else’s car.</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>If someone else is driving your car and causes an accident, your insurance will likely cover initial damages to other drivers or property, as well as any damage to your own car, depending on the policy.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>If someone else causes an accident-related claim while driving your car, your insurance rate may go up.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>If your insurance doesn’t cover the entire claim, the other driver’s policy may cover some liability and possibly some medical expenses.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Coverage may vary based on the insurance company and your state, so ask your insurer what’s covered before letting someone else borrow your car.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Before handing over the keys, ask your friend about their insurance coverage and whether they’d be willing to help pay for any damage if they cause an accident in your car.</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\">Car Insurance Usually Follows the Vehicle</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">In general, claims that arise from your car’s use—no matter who’s driving it—will likely first land with your insurance company, as long as the driver had your permission to drive.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: How coverage applies may vary based on state law, your specific auto insurance policy, and the situation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-9\">Bodily Injury and Property Liability Insurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-10\">If your friend, grandkid, or roommate borrows your car and injures someone else or damages their property, your auto insurance’s bodily injury liability or property liability coverage will generally step in to cover the claim. If the claim is higher than your coverage amount and the driver also has insurance, their coverage may make up the difference.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-12\">Comprehensive and Collision Coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">Collision coverage pays the costs of accident-related damage to your vehicle, while comprehensive coverage applies to the costs of damage that isn’t collision-related, such as a bird hitting the windshield.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-15\">If you don’t have comprehensive or collision coverage and your friend borrows your car and damages it, your insurance company will not cover the costs of repairing the damage. Even if your friend has their own collision or comprehensive coverage, their policy likely won’t cover any damage to your vehicle. You may need to have a potentially awkward conversation with your friend about repairs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-17\">When the Driver’s Car Insurance Might Apply</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">In some situations or states, specific portions of your friend’s insurance policy may step in to help cover costs that go beyond your policy’s limits or that aren’t covered by your policy. Think of the borrower’s coverage like a backup policy. For example, if the person borrowing your car causes more property damage than your car insurance covers, their insurance may step in to pay the remainder of a claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: Whether or not—and how—coverage applies depends on the situation, insurer, state, and policy wording. Before borrowing someone else’s car or letting someone borrow yours, confirm your coverage with your insurance company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-21\">PIP, Medical Payments, and Uninsured/Underinsured Motorist Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">Personal injury protection (PIP) insurance, medical payments coverage, and uninsured/uninsured motorist coverage vary greatly from state to state. Some states require certain types of coverage, such as PIP, other states allow drivers to decline certain optional coverages (like PIP insurance), and still more states don’t have any requirements.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-24\">The differences between states and policies can make it extremely confusing to sort out financial responsibility when it comes to injuries resulting from a collision. For example, the driver’s PIP insurance might cover some medical expenses or other personal injury costs for the driver or passengers, depending on the state and policy. If the driver doesn’t have PIP but you (the car’s owner) do, your insurance may pay for injury costs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">Contact your insurer to learn more about your coverage for injuries and collisions with uninsured drivers, and how it applies to someone else borrowing your car. Ask anyone borrowing your car to check with their insurer, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-28\">When Your Insurance May Not Cover Someone Else’s Accident</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-29\">Your car insurance may not pay for any damages in specific situations. It’s essential to ask your insurance company about any exclusions, exceptions, or limitations before you hand over the keys to anyone who isn’t named in your policy. Exceptions can include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-31\"><!-- wp:list-item -->\n<li><strong>Lack of permission</strong>: If you didn’t give permission to the driver—whether they’re a friend, family member, or a thief—your insurance policy likely won’t cover damage or injury they cause to others.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Special situations</strong>: Some owner-only insurance policies cover the vehicle’s owner and no one else. Other policies allow you to exclude specific drivers from coverage, such as a household member with a suspended license. Several insurers may pay less for claims caused by non-owner drivers.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Non-valid license</strong>: If your friend lost their license and you allowed them to drive your car anyway, your insurance company could deny any resulting claim—and you could be held legally responsible.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Household members</strong>: If a family member isn’t on your insurance policy and causes an accident with your car, they may not be covered, depending on the insurance company.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Commercial activity</strong>: If your best friend borrows your car to offer rideshare services, your current policy may not cover that driving.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-33\">What Happens if Someone Else Gets in an Accident With My Car?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-34\">Whose insurance pays for what depends on several factors, including:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-36\"><!-- wp:list-item -->\n<li>Who is at fault</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>How many drivers were involved</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>The owner’s and driver’s insurance policies</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Type of damage or incident</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>State insurance laws</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">For example, say your friend borrows your car to run an errand. If they’re hit by another driver who’s found to be at fault for the accident, that driver’s insurance will likely pay for damage to your car and your friend’s injuries, depending on the state and how fault is assigned.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-40\">If your friend is at fault for an accident, your policy will likely pay up to its maximum limits for injury or damage caused. After the limits are exhausted, your friend’s insurance may step in to pay additional costs, or both of you could be sued for damages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-42\">In another scenario, say your friend sideswipes a metal barrier and causes $1,500 in damage to your car. You carry collision insurance, which helps repair the deep scrape—but only if you pay your $500 deductible. Will your friend agree to pay the deductible, or avoid your calls?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: Before handing over the keys, show your friend where you keep your proof of insurance. In some states, their driver’s license could be suspended if they can’t show proof of insurance, even when borrowing a car.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-45\">When an Accident Affects Your Rates</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-46\">If your babysitter or cousin borrows your car and gets into an accident, it will go on your insurance record. Filing a claim for the damage could raise your rates at your next renewal, although they may not increase if your friend was not at fault for the accident. Again, a lot depends on your insurer, policy wording, and state laws.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-48\">What About Tickets?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-49\">Tickets typically follow the driver, not the car. So if your friend gets a speeding ticket, it will typically affect only their driving record, not yours. In some places, violations issued by traffic cameras (such as red-light tickets) are the responsibility of the vehicle’s owner, not the driver, and may not go on anyone’s driving record.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: In some cities, you can contest a camera-generated citation or ticket if you weren’t driving your car. However, you may need to identify the driver, who will then be issued their own ticket.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-52\">Should the Other Driver Still Have Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-53\">In a best-case scenario, anyone borrowing your car has their own auto insurance policy. That coverage can help cover any liability costs that go beyond your insurance limits or, in some cases, any injuries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-55\">If your friend doesn’t have insurance and is at fault for the accident, you or they could be sued to recover additional damages, which could place your assets (such as your savings or home) at risk. Non-owner insurance may be an option for people who regularly need to borrow cars.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: If you frequently loan your car to a particular person, such as a caregiver, ask your insurance company if that person should or could be added to your insurance policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-58\">Frequently Asked Questions (FAQs)</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">My teenager let a friend borrow the car and had an accident. Who is liable?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Coverage is typically only extended to people with your verbal permission to drive your car. If your teen allows a friend to borrow your vehicle without your permission, you’ll need to consult with your insurer and a lawyer to determine whether you or your insurer are legally responsible for any accident-related claims.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">If my drunk friend asks me to drive their car, who is liable in an accident?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You will need to check with your insurer and possibly a lawyer about your situation, as there are many factors involved. Liability and coverage may depend on your state laws, insurers, policy terms, and more.</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/how-to-protect-your-business-against-unforeseen-circumstances/\">click</a><a href=\"https://www.thebalancemoney.com/can-someone-else-drive-my-car-check-your-car-insurance-5270364\"> </a><a href=\"https://www.thebalancemoney.com/if-my-car-breaks-down-will-insurance-cover-a-rental-5198055\">here.</a></p>\n<!-- /wp:paragraph -->','What Happens if Someone Else Is Driving My Car and Gets Into an Accident?','','inherit','closed','closed','','3652-revision-v1','','','2023-11-22 21:35:36','2023-11-22 21:35:36','',3652,'https://smartinsurance.tips/?p=3654',0,'revision','',0);
INSERT INTO `smart_posts` VALUES (3655,1,'2023-11-22 21:43:15','2023-11-22 21:43:15','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3656,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-45-1024x1024.png\" alt=\"\" class=\"wp-image-3656\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Before the holidays begin in earnest, many Americans take advantage of early-season online shopping events to score major deals on gifts for friends and loved ones. According to a Bankrate survey, 50 percent of holiday shoppers will begin their shopping by the end of October. If your holiday shopping is already in full swing, you should be aware of package theft and how to prevent it. Bankrate can help. Knowing how to protect yourself from porch pirates can help ensure that your gifts end up under the tree — and out of the hands of a thief.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">The rise of porch piracy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Although online shopping isn’t a novel concept, its popularity has soared in the past several years. Spurred by the COVID-19 pandemic, shoppers turned to online storefronts for everything from groceries to new sneakers. Even after pandemic restrictions were lifted and shoppers could return to brick-and-mortar stores, online shopping continued to grow. This year alone, global e-commerce sales are expected to exceed $5 trillion for the first time ever. Online shopping can be a convenient solution to the chaos of holiday gift-buying, but it also raises the risk that your gifts will be stolen before you’ve even had the chance to wrap them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A porch pirate is someone who steals a package from your doorstep, either by following a delivery truck or cruising through your neighborhood. Porch piracy is pretty straightforward: a thief spots an unattended package and takes it before the recipient is able to bring it inside. Or they open the package on the spot and steal its contents. It’s much less involved than a full-on home break-in, which makes it an appealing choice for petty criminals. In 2022, 260 million packages were reported missing in the U.S.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Porch pirates tend to have a few favorite cities. A study from Safewise named the following cities as hot spots for porch piracy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Top ten cities for porch pirates:</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><!-- wp:list-item -->\n<li>San Francisco, California</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Seattle, Washington</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Austin, Texas</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Hartford &amp; New Haven, Connecticut</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Sacramento, California</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Los Angeles, California</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Portland, Oregon</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Fresno, California</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Milwaukee, Wisconsin</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>New Orleans, Louisiana</li>\n<!-- /wp:list-item --></ol>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">What to do if your package is stolen</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>How you handle package theft depends on how your package was stolen. If it was snatched from your porch, your first move should be to contact the retailer — not the shipping company. The retailer will likely have its own policy when it comes to stolen items. Typically, you can request a refund or a replacement. Amazon, for example, offers customers an A-to-Z guarantee, which may cover up to $2,500 for items purchased from a third-party seller. If the retailer cannot help you, but your shipment was insured, you may be able to recoup some of your cost by contacting the shipping company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A home break-in is also possible. In that case, you’d want to file a police report with your local authorities. The thieves may have also smashed a window, broken a fence or pried open a garage door in order to access your packages. If your home or other structures on your property were damaged during the break-in, you may want to contact your home insurance provider and file a claim for the repairs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The personal property arm of your home or renters insurance policy technically extends to unopened packages, but filing a claim may not always be cost-effective. Consider your deductible and your home insurance rate: if the value of the stolen package is close to or less than your deductible, you might be better off contacting the retailer for a refund or replacement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Filing a home insurance claim will likely raise your rate, which may not make much financial sense depending on what your package was worth. If a highly valuable package was stolen, you might want to consider filing a claim. However, personal property coverage typically has limits on what value items it will cover, so unless you added a scheduled personal property endorsement, your policy may not cover the item.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">How to prevent porch piracy</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Even if you live in an area with high levels of porch piracy, there are still several steps you can take to protect your packages this holiday season. Consider the following strategies:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Install a doorbell security camera:</strong>&nbsp;A camera can’t stop a thief in their tracks, but it may act as a strong deterrent. Plus, if you catch the theft on camera, it could be useful evidence if you decide to file a home insurance claim and police report.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Consider motion-activated floodlights:</strong>&nbsp;Similar to a camera, bright, motion-activated lights could scare off porch pirates.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Choose discrete delivery spots:</strong>&nbsp;In the delivery notes, you could request to have your package dropped off behind a hedge, under a doormat or somewhere else that is not visible from the road.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Track and schedule your deliveries:</strong>&nbsp;Many shipping companies provide up-to-date tracking information for inbound packages. Knowing when your package will arrive can allow you to be home to receive it.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Require a signature:</strong>&nbsp;With some valuable or information-sensitive packages, you can request a required signature, ensuring you will be home when it arrives.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Choose a pickup instead:</strong>&nbsp;The U.S. Postal Service and many third-party shipping companies allow you to select a package to be held at a local facility rather than dropped at your door. If you’re expecting something valuable, this may be a better option.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Make it look like you’re home:</strong>&nbsp;Leaving a light on or setting up automatic lights could give the illusion that you are home. If it looks like you’re home, a thief may be less likely to target your house.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Ask your neighbors:</strong>&nbsp;If you’re comfortable doing so, you could ask a neighbor to walk over and grab your package for you if you know you won’t be home for a while after it’s delivered.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Home burglary and prevention</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Surprisingly, burglary levels remain fairly stable throughout the year. In 2021, December burglaries accounted for just 8.1 percent of burglaries, roughly one-twelfth. The number of break-ins may be consistent, but the average value of stolen items climbs in December.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Throughout 2021, the average burglary resulted in $2,740 in stolen items. However, December burglaries were valued higher, at an average of $2,891. November turned out to be the month with the highest average burglary amount of $2,943.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It makes sense that the value of burglaries would go up during the holidays, as the data suggests that thieves use this time to target more expensive items. Jewelry is 11 percent more likely to be stolen during the holidays. Computers and furs are also popular choices and are 9 percent more likely to be stolen in December than in any other month.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Other common holiday-related claims</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The holidays can be a time of joy, but mishaps and accidents can still happen. A standard home insurance policy will cover some holiday-related incidents but not all. If you plan to host people at your home, you might want to double-check your liability limits. Or, if you received a valuable gift this year, like jewelry or art, you may want to consider scheduled personal property coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Here are some common scenarios where your home insurance policy might cover holiday mishaps:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Injuries and property damage:</strong> Fun-filled gatherings make the holidays enjoyable, but they can lead to events that leave you legally liable for injuries or property damage. A rowdy reveler could take a tumble down your stairs, an errant bottle rocket could set your neighbor’s yard ablaze, or your feisty pup could nip a caroler. Personal liability coverage typically starts around $100,000, but you may want to review your policy to assess your coverage limits.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Fires:</strong> Holiday cooking, Christmas trees and outdoor lighting all pose a fire risk. Your dwelling and other structures coverage types should pay to repair any structural damage caused by a house fire. Your personal property coverage will pay for personal items destroyed, up to your policy limits, and additional living expenses coverage could pay for any extra costs you incur if your home is not habitable following the incident.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Credit card theft:</strong> Most standard homeowners policies include around $500 in coverage to pay for items purchased with a stolen credit card. Holiday credit card theft may be increasing due to the prevalence of shopping online. Experian reports that 43 percent of respondents who had their identity stolen during the holiday season say it happened online.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Identity theft:</strong> If a porch pirate steals a package with sensitive personal information, you may be at risk for identity theft. Many insurance companies sell identity theft endorsements that can cover costs you incur due to a stolen identity, including identity restoration services.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Bottom line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Porch piracy is a crime of opportunity. If you take steps to limit a would-be thief’s chance to steal your packages, you may help ensure yourself a brighter holiday season. However, if a package does get stolen, contacting the retailer is a great first step in the majority of cases. For more valuable packages, you might consider filing a police report and a home insurance claim. However, keep in mind that a claim could cause your insurance rate to rise. If the value of the package is close to or less than your deductible, you might be better off just contacting the retailer for a refund or replacement to avoid a premium surcharge.</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/how-to-protect-your-home-during-the-holidays/\">click here</a>.</p>\n<!-- /wp:paragraph -->','How to Protect Your Home from Porch Pirates and Burglaries During the Holiday Season','','publish','closed','closed','','how-to-protect-your-home-from-porch-pirates-and-burglaries-during-the-holiday-season','','','2023-11-22 21:43:15','2023-11-22 21:43:15','',0,'https://smartinsurance.tips/?p=3655',0,'post','',0),(3656,1,'2023-11-22 21:39:37','2023-11-22 21:39:37','','Untitled-45','','inherit','closed','closed','','untitled-45','','','2023-11-22 21:39:37','2023-11-22 21:39:37','',3655,'http://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-45.png',0,'attachment','image/png',0),(3657,1,'2023-11-22 21:43:15','2023-11-22 21:43:15','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3656,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-45-1024x1024.png\" alt=\"\" class=\"wp-image-3656\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Before the holidays begin in earnest, many Americans take advantage of early-season online shopping events to score major deals on gifts for friends and loved ones. According to a Bankrate survey, 50 percent of holiday shoppers will begin their shopping by the end of October. If your holiday shopping is already in full swing, you should be aware of package theft and how to prevent it. Bankrate can help. Knowing how to protect yourself from porch pirates can help ensure that your gifts end up under the tree — and out of the hands of a thief.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">The rise of porch piracy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Although online shopping isn’t a novel concept, its popularity has soared in the past several years. Spurred by the COVID-19 pandemic, shoppers turned to online storefronts for everything from groceries to new sneakers. Even after pandemic restrictions were lifted and shoppers could return to brick-and-mortar stores, online shopping continued to grow. This year alone, global e-commerce sales are expected to exceed $5 trillion for the first time ever. Online shopping can be a convenient solution to the chaos of holiday gift-buying, but it also raises the risk that your gifts will be stolen before you’ve even had the chance to wrap them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A porch pirate is someone who steals a package from your doorstep, either by following a delivery truck or cruising through your neighborhood. Porch piracy is pretty straightforward: a thief spots an unattended package and takes it before the recipient is able to bring it inside. Or they open the package on the spot and steal its contents. It’s much less involved than a full-on home break-in, which makes it an appealing choice for petty criminals. In 2022, 260 million packages were reported missing in the U.S.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Porch pirates tend to have a few favorite cities. A study from Safewise named the following cities as hot spots for porch piracy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Top ten cities for porch pirates:</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><!-- wp:list-item -->\n<li>San Francisco, California</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Seattle, Washington</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Austin, Texas</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Hartford &amp; New Haven, Connecticut</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Sacramento, California</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Los Angeles, California</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Portland, Oregon</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Fresno, California</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Milwaukee, Wisconsin</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>New Orleans, Louisiana</li>\n<!-- /wp:list-item --></ol>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">What to do if your package is stolen</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>How you handle package theft depends on how your package was stolen. If it was snatched from your porch, your first move should be to contact the retailer — not the shipping company. The retailer will likely have its own policy when it comes to stolen items. Typically, you can request a refund or a replacement. Amazon, for example, offers customers an A-to-Z guarantee, which may cover up to $2,500 for items purchased from a third-party seller. If the retailer cannot help you, but your shipment was insured, you may be able to recoup some of your cost by contacting the shipping company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A home break-in is also possible. In that case, you’d want to file a police report with your local authorities. The thieves may have also smashed a window, broken a fence or pried open a garage door in order to access your packages. If your home or other structures on your property were damaged during the break-in, you may want to contact your home insurance provider and file a claim for the repairs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The personal property arm of your home or renters insurance policy technically extends to unopened packages, but filing a claim may not always be cost-effective. Consider your deductible and your home insurance rate: if the value of the stolen package is close to or less than your deductible, you might be better off contacting the retailer for a refund or replacement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Filing a home insurance claim will likely raise your rate, which may not make much financial sense depending on what your package was worth. If a highly valuable package was stolen, you might want to consider filing a claim. However, personal property coverage typically has limits on what value items it will cover, so unless you added a scheduled personal property endorsement, your policy may not cover the item.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">How to prevent porch piracy</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Even if you live in an area with high levels of porch piracy, there are still several steps you can take to protect your packages this holiday season. Consider the following strategies:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Install a doorbell security camera:</strong>&nbsp;A camera can’t stop a thief in their tracks, but it may act as a strong deterrent. Plus, if you catch the theft on camera, it could be useful evidence if you decide to file a home insurance claim and police report.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Consider motion-activated floodlights:</strong>&nbsp;Similar to a camera, bright, motion-activated lights could scare off porch pirates.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Choose discrete delivery spots:</strong>&nbsp;In the delivery notes, you could request to have your package dropped off behind a hedge, under a doormat or somewhere else that is not visible from the road.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Track and schedule your deliveries:</strong>&nbsp;Many shipping companies provide up-to-date tracking information for inbound packages. Knowing when your package will arrive can allow you to be home to receive it.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Require a signature:</strong>&nbsp;With some valuable or information-sensitive packages, you can request a required signature, ensuring you will be home when it arrives.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Choose a pickup instead:</strong>&nbsp;The U.S. Postal Service and many third-party shipping companies allow you to select a package to be held at a local facility rather than dropped at your door. If you’re expecting something valuable, this may be a better option.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Make it look like you’re home:</strong>&nbsp;Leaving a light on or setting up automatic lights could give the illusion that you are home. If it looks like you’re home, a thief may be less likely to target your house.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Ask your neighbors:</strong>&nbsp;If you’re comfortable doing so, you could ask a neighbor to walk over and grab your package for you if you know you won’t be home for a while after it’s delivered.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Home burglary and prevention</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Surprisingly, burglary levels remain fairly stable throughout the year. In 2021, December burglaries accounted for just 8.1 percent of burglaries, roughly one-twelfth. The number of break-ins may be consistent, but the average value of stolen items climbs in December.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Throughout 2021, the average burglary resulted in $2,740 in stolen items. However, December burglaries were valued higher, at an average of $2,891. November turned out to be the month with the highest average burglary amount of $2,943.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It makes sense that the value of burglaries would go up during the holidays, as the data suggests that thieves use this time to target more expensive items. Jewelry is 11 percent more likely to be stolen during the holidays. Computers and furs are also popular choices and are 9 percent more likely to be stolen in December than in any other month.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Other common holiday-related claims</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The holidays can be a time of joy, but mishaps and accidents can still happen. A standard home insurance policy will cover some holiday-related incidents but not all. If you plan to host people at your home, you might want to double-check your liability limits. Or, if you received a valuable gift this year, like jewelry or art, you may want to consider scheduled personal property coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Here are some common scenarios where your home insurance policy might cover holiday mishaps:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Injuries and property damage:</strong> Fun-filled gatherings make the holidays enjoyable, but they can lead to events that leave you legally liable for injuries or property damage. A rowdy reveler could take a tumble down your stairs, an errant bottle rocket could set your neighbor’s yard ablaze, or your feisty pup could nip a caroler. Personal liability coverage typically starts around $100,000, but you may want to review your policy to assess your coverage limits.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Fires:</strong> Holiday cooking, Christmas trees and outdoor lighting all pose a fire risk. Your dwelling and other structures coverage types should pay to repair any structural damage caused by a house fire. Your personal property coverage will pay for personal items destroyed, up to your policy limits, and additional living expenses coverage could pay for any extra costs you incur if your home is not habitable following the incident.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Credit card theft:</strong> Most standard homeowners policies include around $500 in coverage to pay for items purchased with a stolen credit card. Holiday credit card theft may be increasing due to the prevalence of shopping online. Experian reports that 43 percent of respondents who had their identity stolen during the holiday season say it happened online.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Identity theft:</strong> If a porch pirate steals a package with sensitive personal information, you may be at risk for identity theft. Many insurance companies sell identity theft endorsements that can cover costs you incur due to a stolen identity, including identity restoration services.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Bottom line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Porch piracy is a crime of opportunity. If you take steps to limit a would-be thief’s chance to steal your packages, you may help ensure yourself a brighter holiday season. However, if a package does get stolen, contacting the retailer is a great first step in the majority of cases. For more valuable packages, you might consider filing a police report and a home insurance claim. However, keep in mind that a claim could cause your insurance rate to rise. If the value of the package is close to or less than your deductible, you might be better off just contacting the retailer for a refund or replacement to avoid a premium surcharge.</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/how-to-protect-your-home-during-the-holidays/\">click here</a>.</p>\n<!-- /wp:paragraph -->','How to Protect Your Home from Porch Pirates and Burglaries During the Holiday Season','','inherit','closed','closed','','3655-revision-v1','','','2023-11-22 21:43:15','2023-11-22 21:43:15','',3655,'https://smartinsurance.tips/?p=3657',0,'revision','',0),(3658,1,'2023-11-22 21:45:32','2023-11-22 21:45:32','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3659,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-46-1024x1024.png\" alt=\"\" class=\"wp-image-3659\"/></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-2','','','2023-11-22 21:45:32','2023-11-22 21:45:32','',0,'https://smartinsurance.tips/?p=3658',0,'post','',0),(3659,1,'2023-11-22 21:44:21','2023-11-22 21:44:21','','Untitled-46','','inherit','closed','closed','','untitled-46','','','2023-11-22 21:44:21','2023-11-22 21:44:21','',3658,'http://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-46.png',0,'attachment','image/png',0),(3660,1,'2023-11-22 21:45:32','2023-11-22 21:45:32','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3659,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-46-1024x1024.png\" alt=\"\" class=\"wp-image-3659\"/></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','','3658-revision-v1','','','2023-11-22 21:45:32','2023-11-22 21:45:32','',3658,'https://smartinsurance.tips/?p=3660',0,'revision','',0),(3661,1,'2023-11-22 21:49:47','2023-11-22 21:49:47','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3662,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-48-1024x1024.png\" alt=\"\" class=\"wp-image-3662\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">Some of the most valuable assets in your home may be unprotected, such as a diamond engagement ring, a vintage Rolex, or a black pearl necklace picked up in Tahiti. Most people likely have a comprehensive insurance policy covering their house and furnishings, but homeowners or renter’s insurance doesn’t automatically mean every item under your roof is insured.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">In fact, some policies specifically exclude jewelry and other valuables (musical instruments, artwork, and furs among them). Other policies limit coverage to certain types of events and a defined dollar amount. This level of coverage can be significantly inadequate, especially if you want to replace the sort of item that has substantially appreciated in value since its purchase.</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>Many insurance policies won’t cover jewelry unless specifically requested, and then the premium must be adjusted accordingly.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Jewelry is often not directly replaceable, so be sure to discuss appreciation and replacement rules when considering a policy.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>If the item is particularly valuable, having it appraised is a smart idea.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Insuring jewelry doesn’t mean that it should be locked in a safe. Feel free to wear it even more knowing it’s protected.</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 You Need</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-7\">If you have substantial assets of this type, what’s required is jewelry insurance. Known as a “rider” or, more specifically, a “floater” (which targets small, moveable items), it takes over when traditional insurance coverage ends and typically covers the insured item against fire, loss, theft, or damage. Note that these policies might not extend to other valuables that aren\'t considered jewelry. A watch, for instance, may instead need to be covered by one of the best watch insurance companies currently available.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">Most major insurers do not offer jewelry coverage as a stand-alone product (an underlying property insurance policy is required). However, owners of valuables can purchase coverage as an add-on to their existing homeowners insurance policy. In fact, most of the better-known insurers require additional handling for high-end valuables.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-11\">Examples of Insurance Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-12\">At USAA, for example, a typical homeowners insurance policy covers jewelry lost to fire or theft but not to accidental damage or loss. The coverage limit for jewelry is $10,000 (no per-item limit) and is subject to the policy deductible (the amount you’ll have to pay before insurance coverage kicks in). For more jewelry coverage, a separate policy is necessary.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>USAA’s Valuable Personal Property policy covers a broad assortment of accidents and incidents. It will, for example, pay for a replacement diamond if the stone falls out of your engagement ring or for repair if the ring is accidentally broken. And the deductible is $0. This coverage also applies to musical instruments and fine art. No appraisal is necessary for any jewelry items insured for $15,000 or less, though a receipt or proof of ownership is required when making a claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-16\">Farmers Insurance has a similar approach. Damage due to accidents is not protected. Farmers offers riders to cover valuable items, and the deductible is chosen by the insured (starting at $0). In most cases Farmers requires a receipt or appraisal for each item being insured.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">GEICO and Allstate offer comparable options. Standard policies limit personal property coverage to $500 to $2,000 at GEICO and $1,000 to $2,000 at Allstate. Riders or floaters are available to increase the amount of coverage and cover loss and damage not covered by the main policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-20\">What to Ask</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">When you look around for the best jewelry insurance policy, keep these questions in mind:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-23\"><!-- wp:list-item -->\n<li>How exactly are claims handled? Will you be required to purchase a replacement and then request reimbursement, or will the insurer send a check first?</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Is the item’s full replacement cost covered? How is that amount determined (especially if the item is antique or custom-made)?</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Do coverage limits fluctuate with the price of precious metals or gems?</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>How often can/should you submit updated appraisals?</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>What proof of loss or damage will be required?</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Which exclusions does the policy have? What types of loss and damage are not covered?</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-25\">Additional Tips</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">Before buying your policy—and when making additions to it down the road:&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-28\"><!-- wp:list-item -->\n<li>Have your items professionally appraised to determine their value for insurance purposes.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Take photos of the items.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>If you have the option, as with the aforementioned Farmers Insurance rider, consider increasing the deductible to lower the insurance premiums.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-30\">Once your policy is in place:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-32\"><!-- wp:list-item -->\n<li>Keep all your items’ receipts, appraisal paperwork, and photos locked away in a safe (but easily accessible) place.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Store items securely when you aren’t wearing them.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Avoid traveling with irreplaceable or extremely valuable jewelry.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-34\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-35\">Most insurance providers offer discounts to customers who purchase multiple policies. If you purchase your home, auto, life, and property insurance from a single provider, you are likely to get a better deal overall.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-37\">If you don’t have homeowners or renter’s insurance, you may be able to purchase stand-alone coverage from a provider that specializes in insuring jewelry. Some jewelers offer such policies or can recommend a company that does.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-39\">Last but not least: Protecting your property doesn’t mean you can never wear it. On the contrary, if you insure your valuable pieces, you can use and enjoy them all the more knowing that they’re adequately covered.</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/personal-finance/072115/quick-guide-how-insure-jewelry.asp\">click here</a>.</p>\n<!-- /wp:paragraph -->','A Quick Guide on How to Insure Jewelry','','publish','closed','closed','','a-quick-guide-on-how-to-insure-jewelry','','','2023-11-22 21:49:47','2023-11-22 21:49:47','',0,'https://smartinsurance.tips/?p=3661',0,'post','',0),(3662,1,'2023-11-22 21:47:02','2023-11-22 21:47:02','','Untitled-48','','inherit','closed','closed','','untitled-48','','','2023-11-22 21:47:02','2023-11-22 21:47:02','',3661,'http://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-48.png',0,'attachment','image/png',0),(3663,1,'2023-11-22 21:49:47','2023-11-22 21:49:47','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3662,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-48-1024x1024.png\" alt=\"\" class=\"wp-image-3662\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">Some of the most valuable assets in your home may be unprotected, such as a diamond engagement ring, a vintage Rolex, or a black pearl necklace picked up in Tahiti. Most people likely have a comprehensive insurance policy covering their house and furnishings, but homeowners or renter’s insurance doesn’t automatically mean every item under your roof is insured.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">In fact, some policies specifically exclude jewelry and other valuables (musical instruments, artwork, and furs among them). Other policies limit coverage to certain types of events and a defined dollar amount. This level of coverage can be significantly inadequate, especially if you want to replace the sort of item that has substantially appreciated in value since its purchase.</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>Many insurance policies won’t cover jewelry unless specifically requested, and then the premium must be adjusted accordingly.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Jewelry is often not directly replaceable, so be sure to discuss appreciation and replacement rules when considering a policy.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>If the item is particularly valuable, having it appraised is a smart idea.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Insuring jewelry doesn’t mean that it should be locked in a safe. Feel free to wear it even more knowing it’s protected.</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 You Need</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-7\">If you have substantial assets of this type, what’s required is jewelry insurance. Known as a “rider” or, more specifically, a “floater” (which targets small, moveable items), it takes over when traditional insurance coverage ends and typically covers the insured item against fire, loss, theft, or damage. Note that these policies might not extend to other valuables that aren\'t considered jewelry. A watch, for instance, may instead need to be covered by one of the best watch insurance companies currently available.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">Most major insurers do not offer jewelry coverage as a stand-alone product (an underlying property insurance policy is required). However, owners of valuables can purchase coverage as an add-on to their existing homeowners insurance policy. In fact, most of the better-known insurers require additional handling for high-end valuables.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-11\">Examples of Insurance Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-12\">At USAA, for example, a typical homeowners insurance policy covers jewelry lost to fire or theft but not to accidental damage or loss. The coverage limit for jewelry is $10,000 (no per-item limit) and is subject to the policy deductible (the amount you’ll have to pay before insurance coverage kicks in). For more jewelry coverage, a separate policy is necessary.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>USAA’s Valuable Personal Property policy covers a broad assortment of accidents and incidents. It will, for example, pay for a replacement diamond if the stone falls out of your engagement ring or for repair if the ring is accidentally broken. And the deductible is $0. This coverage also applies to musical instruments and fine art. No appraisal is necessary for any jewelry items insured for $15,000 or less, though a receipt or proof of ownership is required when making a claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-16\">Farmers Insurance has a similar approach. Damage due to accidents is not protected. Farmers offers riders to cover valuable items, and the deductible is chosen by the insured (starting at $0). In most cases Farmers requires a receipt or appraisal for each item being insured.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">GEICO and Allstate offer comparable options. Standard policies limit personal property coverage to $500 to $2,000 at GEICO and $1,000 to $2,000 at Allstate. Riders or floaters are available to increase the amount of coverage and cover loss and damage not covered by the main policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-20\">What to Ask</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">When you look around for the best jewelry insurance policy, keep these questions in mind:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-23\"><!-- wp:list-item -->\n<li>How exactly are claims handled? Will you be required to purchase a replacement and then request reimbursement, or will the insurer send a check first?</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Is the item’s full replacement cost covered? How is that amount determined (especially if the item is antique or custom-made)?</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Do coverage limits fluctuate with the price of precious metals or gems?</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>How often can/should you submit updated appraisals?</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>What proof of loss or damage will be required?</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Which exclusions does the policy have? What types of loss and damage are not covered?</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-25\">Additional Tips</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">Before buying your policy—and when making additions to it down the road:&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-28\"><!-- wp:list-item -->\n<li>Have your items professionally appraised to determine their value for insurance purposes.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Take photos of the items.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>If you have the option, as with the aforementioned Farmers Insurance rider, consider increasing the deductible to lower the insurance premiums.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-30\">Once your policy is in place:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-32\"><!-- wp:list-item -->\n<li>Keep all your items’ receipts, appraisal paperwork, and photos locked away in a safe (but easily accessible) place.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Store items securely when you aren’t wearing them.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Avoid traveling with irreplaceable or extremely valuable jewelry.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-34\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-35\">Most insurance providers offer discounts to customers who purchase multiple policies. If you purchase your home, auto, life, and property insurance from a single provider, you are likely to get a better deal overall.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-37\">If you don’t have homeowners or renter’s insurance, you may be able to purchase stand-alone coverage from a provider that specializes in insuring jewelry. Some jewelers offer such policies or can recommend a company that does.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-39\">Last but not least: Protecting your property doesn’t mean you can never wear it. On the contrary, if you insure your valuable pieces, you can use and enjoy them all the more knowing that they’re adequately covered.</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/personal-finance/072115/quick-guide-how-insure-jewelry.asp\">click here</a>.</p>\n<!-- /wp:paragraph -->','A Quick Guide on How to Insure Jewelry','','inherit','closed','closed','','3661-revision-v1','','','2023-11-22 21:49:47','2023-11-22 21:49:47','',3661,'https://smartinsurance.tips/?p=3663',0,'revision','',0),(3664,1,'2023-11-22 21:54:19','2023-11-22 21:54:19','<!-- wp:paragraph -->\n<p>Here’s what to consider before adding CFAR insurance to your travel insurance.</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\":3665,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-49-1024x1024.png\" alt=\"\" class=\"wp-image-3665\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">If you’re planning a trip, purchasing travel insurance can offer some peace of mind, especially if you’re taking a long vacation or traveling abroad. But if you’re concerned about the possibility of changing your plans at the last minute, cancel for any reason (CFAR) travel insurance can be a smart choice. It’s an add-on to a travel insurance policy that reimburses you if you have to cancel your trip for a reason not already covered by your policy.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">The best CFAR travel insurance will depend on your personal situation, coverage needs, and budget. In this article, we’ll explain how to buy CFAR insurance and what factors to consider as you compare different CFAR travel insurance policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-4\">Assess Your Needs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-5\">Before you start shopping for CFAR travel insurance, it’s important to consider your unique needs. Here are some of the most important factors to think about.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-7\">Reimbursement Rate</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-8\">CFAR policies include a reimbursement rate, which is a percentage of the trip cost you’ll get back for a covered cancellation. If you’re spending a significant amount of money on travel and want the highest amount of coverage possible, make sure to choose a policy that offers enough reimbursement to meet your needs. A good rule of thumb is to choose a CFAR plan with at least a 75% reimbursement rate. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: Cancellations covered by a policy’s trip cancellation coverage are subject to limits and those limits vary based on the company. For example, Travel Guard by AIG provides up to $150,000 in coverage, but HTH Travel Insurance only covers up to $50,000.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-12\">Where You’re Traveling</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">It’s important to consider your destination when buying CFAR travel insurance. For instance, if you’re traveling to a country with political unrest, it’s possible that a travel restriction could force you to cancel the trip and lose money. Or, if you’re planning a trip to Florida during hurricane season, you might want the option to cancel your trip if a major storm is expected to hit while you’re there.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-15\">Think about the potential risks that could occur and cause you to cancel the trip. Then, as you’re comparing CFAR travel insurance policies, make sure that those reasons for cancellation are covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-17\">Who You’re Traveling With</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">You should also consider who you’re traveling with. For example, if you’re taking a family vacation with your young children, look for travel insurance companies that cover kids for free. Travel Guard by AIG and World Trips cover kids 17 and under at no additional cost.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-20\">Also, if you’re planning to travel with your pets, check to see which insurers offer pet medical coverage. A few travel insurance companies will pay for your pet’s medical expenses while traveling, including Allianz and Travelex. However, it’s not a standard offering and the coverage limits vary. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-22\">Budget</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">Buying a CFAR travel insurance policy may not be on your list of expenses for your next vacation. However, if you want to protect your trip from a last-second cancellation, you may want to budget in a CFAR policy. Exactly how much your policy will cost depends on the policy type and company you choose. In our analysis of 18 CFAR travel insurance companies, we found that policy premiums ranged from $121 to $490.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-25\">Research Cancel for Any Reason Insurance Companies</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">It’s a good idea to research different CFAR travel insurance companies before you decide on a policy. Every CFAR travel insurance company is unique and offers different types and amounts of coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-28\">Here are some areas you should research when looking for a CFAR insurance company:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-30\"><!-- wp:list-item -->\n<li><strong>What’s covered</strong>:<strong>&nbsp;</strong>Check to see which reasons for cancellation each policy covers. If you have specific concerns in mind, like a pre-existing health condition preventing you from traveling, make sure those things are covered. In general, CFAR policies cover cancellations due to factors that trip cancellation coverage doesn’t cover.&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Reimbursement rate</strong>:<strong>&nbsp;</strong>Reimbursement rates vary for each travel insurance company and policy. Keep in mind that few travel insurance companies reimburse 100% of the cost—most offer 50% to 75%.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Financial strength ratings</strong>:<strong>&nbsp;</strong>It can be helpful to research financial strength ratings from the credit rating agency AM Best for the travel insurance companies you’re considering. Companies with a rating of A- (Superior) or better are very likely to pay out any claims you make in the near future.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Customer reviews</strong>:<strong>&nbsp;</strong>It’s also useful to read customer reviews for each company you’re looking at. Sites like the Better Business Bureau (BBB) and Trustpilot publish customer reviews (both positive and negative) so you can see what type of experience other travelers have had.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Get quotes: </strong>The cost of travel insurance with a CFAR endorsement depends on many factors, including the company you choose. To find the most affordable policy, get quotes from several travel insurance companies. Many insurers allow you to get an instant quote online.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-32\">Compare Cancel for Any Reason Travel Insurance Quotes</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-33\">Comparing quotes for CFAR travel insurance policies will help you find the best value for your money. Here’s what to consider as you review costs and coverage for various policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-35\">Cost</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">When it comes to the cost of CFAR travel insurance, the premium is only one component. There are several other cost-related factors you should keep in mind:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-38\"><!-- wp:list-item -->\n<li><strong>Payment schedule:&nbsp;</strong>If you buy an annual policy, you\'ll like have payment options, such as making one annual payment or splitting it into monthly installments. If you get coverage for a single trip, you may have to pay the entire cost upfront.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Deductibles:&nbsp;</strong>Your deductible is the amount of money you pay out-of-pocket when you make a claim. Policies with a higher deductible usually have lower premiums. Make sure you have enough cash available to cover your deductible.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Reimbursement levels:&nbsp;</strong>If you choose a policy with a high reimbursement level, the premium will probably be more expensive. For instance, a policy with 100% reimbursement may cost more than a policy with 75% reimbursement.&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Coverage limits: </strong>Travel insurance policies include a maximum amount of coverage for various categories, like travel delay coverage, emergency medical coverage, and lost baggage. A policy with higher coverage limits usually has a higher premium.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Important: In our research of 18 CFAR travel insurance companies, we found that the average cost of a basic policy was $223, while the average cost of a premium policy was $280.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-42\">Coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-43\">Pay attention to a policy’s coverage types and limits. Keep in mind that plans with the most coverage, and the highest coverage limits, generally have the highest premiums. If you’re OK with a lower reimbursement level or less coverage for things like missed flight connections, you can typically get a cheaper policy.&nbsp;Some of the coverage options you may be able to purchase include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-45\"><!-- wp:list-item -->\n<li>Missed flight connections</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Lost baggage protection</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Medical coverage for certain conditions</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Coverage for adventure and extreme activities</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Injuries or illness to pets while traveling</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Wedding cancellations</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-47\">Review Policy Terms and Exclusions</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-48\">All CFAR travel insurance plans have terms and exclusions. For example, most plans won’t reimburse you for the cost of your airfare if you were given a travel voucher or the airline refunded your canceled flight.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-50\">Read your policy’s terms; understand what is and isn’t covered. Some of this information may be easily found online while you’re comparing plans. Once you buy a plan, you will also be able to read the insurance contract, which will list the terms and exclusions in more detail.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-52\">If you have any questions about the policy, including what’s covered when you cancel your trip, it’s always a good idea to contact the insurance company. A representative can walk you through the terms and explain what situations would and wouldn’t be covered, and how much coverage the policy provides.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-54\">Final Word</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-55\">If you’re wondering if cancel for any reason travel insurance worth it, the answer is different for every person. CFAR travel insurance can provide added peace of mind. But if you don’t spend much money on your trips, this policy may not be worth the added cost.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-57\">While CFAR insurance can be a good addition to your travel insurance policy, the best plan is different for every traveler. You should consider your coverage needs, your budget, and the kinds of trips you take in order to choose the right policy for you. </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/how-to-buy-cancel-for-any-reason-travel-insurance-7553379\">click here</a>.</p>\n<!-- /wp:paragraph -->','How to Buy Cancel for Any Reason Travel Insurance','','publish','closed','closed','','how-to-buy-cancel-for-any-reason-travel-insurance','','','2023-11-22 21:54:19','2023-11-22 21:54:19','',0,'https://smartinsurance.tips/?p=3664',0,'post','',0),(3665,1,'2023-11-22 21:52:20','2023-11-22 21:52:20','','Untitled-49','','inherit','closed','closed','','untitled-49-2','','','2023-11-22 21:52:20','2023-11-22 21:52:20','',3664,'http://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-49.png',0,'attachment','image/png',0),(3666,1,'2023-11-22 21:54:19','2023-11-22 21:54:19','<!-- wp:paragraph -->\n<p>Here’s what to consider before adding CFAR insurance to your travel insurance.</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\":3665,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-49-1024x1024.png\" alt=\"\" class=\"wp-image-3665\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">If you’re planning a trip, purchasing travel insurance can offer some peace of mind, especially if you’re taking a long vacation or traveling abroad. But if you’re concerned about the possibility of changing your plans at the last minute, cancel for any reason (CFAR) travel insurance can be a smart choice. It’s an add-on to a travel insurance policy that reimburses you if you have to cancel your trip for a reason not already covered by your policy.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">The best CFAR travel insurance will depend on your personal situation, coverage needs, and budget. In this article, we’ll explain how to buy CFAR insurance and what factors to consider as you compare different CFAR travel insurance policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-4\">Assess Your Needs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-5\">Before you start shopping for CFAR travel insurance, it’s important to consider your unique needs. Here are some of the most important factors to think about.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-7\">Reimbursement Rate</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-8\">CFAR policies include a reimbursement rate, which is a percentage of the trip cost you’ll get back for a covered cancellation. If you’re spending a significant amount of money on travel and want the highest amount of coverage possible, make sure to choose a policy that offers enough reimbursement to meet your needs. A good rule of thumb is to choose a CFAR plan with at least a 75% reimbursement rate. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: Cancellations covered by a policy’s trip cancellation coverage are subject to limits and those limits vary based on the company. For example, Travel Guard by AIG provides up to $150,000 in coverage, but HTH Travel Insurance only covers up to $50,000.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-12\">Where You’re Traveling</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">It’s important to consider your destination when buying CFAR travel insurance. For instance, if you’re traveling to a country with political unrest, it’s possible that a travel restriction could force you to cancel the trip and lose money. Or, if you’re planning a trip to Florida during hurricane season, you might want the option to cancel your trip if a major storm is expected to hit while you’re there.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-15\">Think about the potential risks that could occur and cause you to cancel the trip. Then, as you’re comparing CFAR travel insurance policies, make sure that those reasons for cancellation are covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-17\">Who You’re Traveling With</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">You should also consider who you’re traveling with. For example, if you’re taking a family vacation with your young children, look for travel insurance companies that cover kids for free. Travel Guard by AIG and World Trips cover kids 17 and under at no additional cost.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-20\">Also, if you’re planning to travel with your pets, check to see which insurers offer pet medical coverage. A few travel insurance companies will pay for your pet’s medical expenses while traveling, including Allianz and Travelex. However, it’s not a standard offering and the coverage limits vary. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-22\">Budget</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">Buying a CFAR travel insurance policy may not be on your list of expenses for your next vacation. However, if you want to protect your trip from a last-second cancellation, you may want to budget in a CFAR policy. Exactly how much your policy will cost depends on the policy type and company you choose. In our analysis of 18 CFAR travel insurance companies, we found that policy premiums ranged from $121 to $490.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-25\">Research Cancel for Any Reason Insurance Companies</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">It’s a good idea to research different CFAR travel insurance companies before you decide on a policy. Every CFAR travel insurance company is unique and offers different types and amounts of coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-28\">Here are some areas you should research when looking for a CFAR insurance company:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-30\"><!-- wp:list-item -->\n<li><strong>What’s covered</strong>:<strong>&nbsp;</strong>Check to see which reasons for cancellation each policy covers. If you have specific concerns in mind, like a pre-existing health condition preventing you from traveling, make sure those things are covered. In general, CFAR policies cover cancellations due to factors that trip cancellation coverage doesn’t cover.&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Reimbursement rate</strong>:<strong>&nbsp;</strong>Reimbursement rates vary for each travel insurance company and policy. Keep in mind that few travel insurance companies reimburse 100% of the cost—most offer 50% to 75%.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Financial strength ratings</strong>:<strong>&nbsp;</strong>It can be helpful to research financial strength ratings from the credit rating agency AM Best for the travel insurance companies you’re considering. Companies with a rating of A- (Superior) or better are very likely to pay out any claims you make in the near future.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Customer reviews</strong>:<strong>&nbsp;</strong>It’s also useful to read customer reviews for each company you’re looking at. Sites like the Better Business Bureau (BBB) and Trustpilot publish customer reviews (both positive and negative) so you can see what type of experience other travelers have had.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Get quotes: </strong>The cost of travel insurance with a CFAR endorsement depends on many factors, including the company you choose. To find the most affordable policy, get quotes from several travel insurance companies. Many insurers allow you to get an instant quote online.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-32\">Compare Cancel for Any Reason Travel Insurance Quotes</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-33\">Comparing quotes for CFAR travel insurance policies will help you find the best value for your money. Here’s what to consider as you review costs and coverage for various policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-35\">Cost</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">When it comes to the cost of CFAR travel insurance, the premium is only one component. There are several other cost-related factors you should keep in mind:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-38\"><!-- wp:list-item -->\n<li><strong>Payment schedule:&nbsp;</strong>If you buy an annual policy, you\'ll like have payment options, such as making one annual payment or splitting it into monthly installments. If you get coverage for a single trip, you may have to pay the entire cost upfront.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Deductibles:&nbsp;</strong>Your deductible is the amount of money you pay out-of-pocket when you make a claim. Policies with a higher deductible usually have lower premiums. Make sure you have enough cash available to cover your deductible.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Reimbursement levels:&nbsp;</strong>If you choose a policy with a high reimbursement level, the premium will probably be more expensive. For instance, a policy with 100% reimbursement may cost more than a policy with 75% reimbursement.&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Coverage limits: </strong>Travel insurance policies include a maximum amount of coverage for various categories, like travel delay coverage, emergency medical coverage, and lost baggage. A policy with higher coverage limits usually has a higher premium.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Important: In our research of 18 CFAR travel insurance companies, we found that the average cost of a basic policy was $223, while the average cost of a premium policy was $280.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-42\">Coverage</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-43\">Pay attention to a policy’s coverage types and limits. Keep in mind that plans with the most coverage, and the highest coverage limits, generally have the highest premiums. If you’re OK with a lower reimbursement level or less coverage for things like missed flight connections, you can typically get a cheaper policy.&nbsp;Some of the coverage options you may be able to purchase include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-45\"><!-- wp:list-item -->\n<li>Missed flight connections</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Lost baggage protection</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Medical coverage for certain conditions</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Coverage for adventure and extreme activities</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Injuries or illness to pets while traveling</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Wedding cancellations</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-47\">Review Policy Terms and Exclusions</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-48\">All CFAR travel insurance plans have terms and exclusions. For example, most plans won’t reimburse you for the cost of your airfare if you were given a travel voucher or the airline refunded your canceled flight.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-50\">Read your policy’s terms; understand what is and isn’t covered. Some of this information may be easily found online while you’re comparing plans. Once you buy a plan, you will also be able to read the insurance contract, which will list the terms and exclusions in more detail.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-52\">If you have any questions about the policy, including what’s covered when you cancel your trip, it’s always a good idea to contact the insurance company. A representative can walk you through the terms and explain what situations would and wouldn’t be covered, and how much coverage the policy provides.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-54\">Final Word</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-55\">If you’re wondering if cancel for any reason travel insurance worth it, the answer is different for every person. CFAR travel insurance can provide added peace of mind. But if you don’t spend much money on your trips, this policy may not be worth the added cost.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-57\">While CFAR insurance can be a good addition to your travel insurance policy, the best plan is different for every traveler. You should consider your coverage needs, your budget, and the kinds of trips you take in order to choose the right policy for you. </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/how-to-buy-cancel-for-any-reason-travel-insurance-7553379\">click here</a>.</p>\n<!-- /wp:paragraph -->','How to Buy Cancel for Any Reason Travel Insurance','','inherit','closed','closed','','3664-revision-v1','','','2023-11-22 21:54:19','2023-11-22 21:54:19','',3664,'https://smartinsurance.tips/?p=3666',0,'revision','',0),(3667,1,'2023-11-22 22:02:52','2023-11-22 22:02:52','<!-- wp:paragraph -->\n<p>You don\'t treat your vintage car just like any other ride – this includes getting the right coverage. Find out how classic car insurance works in this guide.</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\":3668,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-50-1024x1024.png\" alt=\"\" class=\"wp-image-3668\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>If you own a classic car, you know how much effort – and not to mention money – it takes to keep your ride in top condition. You don’t treat your vintage car just like any other set of wheels. And this should apply to car insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Standard auto insurance, however, doesn’t always provide adequate coverage for your collectible or antique ride. For such vehicles with unique needs, you also need a different kind of protection called classic car insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><em>Insurance Business </em>gives you a walkthrough of this type of auto policy in this guide. We will explain how this form of coverage works, how it differs from regular car insurance, and what you should be looking for when choosing a policy. Read on and find out everything you need to know about classic car insurance.  </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"large\"} -->\n<p class=\"has-large-font-size\"><strong>What is classic car insurance and how does it work?</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As the name suggests, classic car insurance is a type of auto insurance policy designed for vintage, antique, or classic cars. It pays out the cost to repair or restore your ride if it has been damaged by a covered event.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But unlike standard car insurance, which typically covers vehicles on an actual cash value basis, classic car coverage insures vehicles based on an agreed cash value. This is the amount that you and your insurer have agreed upon following an appraisal.&nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>There’s a reason for this: while conventional vehicles depreciate, vintage cars don’t necessarily lose value as they age. Because of the care and maintenance that classic vehicles receive, they often keep or increase their worth over time. As your collector car gains value, most classic car insurance policies will also allow you to adjust your coverage limits accordingly.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Different insurers have varying eligibility requirements regarding what is considered a classic car. Generally, insurance companies provide coverage if your vehicle meets these criteria:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>It must be in good condition.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>It must be at least 25 years old or 20 years old with collectible value.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>It must be your secondary vehicle – you don’t use it for your regular commute or travel.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>It must not be used for racing.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>It must be stored in a fully closed or climate-controlled garage.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>It must be driven no more than 7,500 miles a year, although the distance may vary depending on the insurer.&nbsp;</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Some classic car insurance providers offer coverage for new cars, including Corvettes and Ferraris, as long as these meet the criteria above, excluding the age requirement, of course.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Insurers also impose strict eligibility requirements for the drivers. If you want to insure your classic car, you can only access coverage if these conditions apply:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>You must be at least 25 years old.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You must have at least five years of driving experience.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You must have a clean driving record.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You must have had no more than one at-fault accident or moving violation within the past three years.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Most policies, however, extend coverage beyond just classic and collector vehicles. The table below lists the different types of vehicles that can be covered under a classic car insurance policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"large\"} -->\n<p class=\"has-large-font-size\"><strong>What does classic car insurance cover?</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Classic car insurance provides the same types of coverage as standard auto policies, but with optional extras designed to meet the needs of classic car enthusiasts. Some of the most common types of classic car coverage include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"fontSize\":\"large\"} -->\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>Classic car insurance standard policies</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4 class=\"wp-block-heading\"><em>Bodily injury liability coverage:</em></h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This helps pay for medical expenses resulting from injuries you caused another person and a part of their lost income if they are unable to work.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Such policies also cover funeral costs and legal expenses if you’re sued because of the accident. Bodily injury liability is one of the minimum coverages required in almost all states, except Florida, which has a different set of car insurance requirements.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4 class=\"wp-block-heading\"><em>Property damage liability coverage:</em></h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This compensates the other driver for the losses or damage you caused to their property. It also pays out the legal and settlement costs you incur due to a lawsuit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4 class=\"wp-block-heading\"><em>Uninsured/underinsured motorist coverage:</em></h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Often bundled together, these policies pay out for the injuries and property damage you and your passengers suffer if you are hit by an uninsured or underinsured driver. They also cover hit-and-run accidents.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4 class=\"wp-block-heading\"><em>Collision coverage:</em></h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This pays out the cost to repair or replace your car if it collides with another vehicle or object.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4 class=\"wp-block-heading\"><em>Comprehensive coverage:</em></h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This covers the repair or replacement cost of your classic car if it is lost or damaged due to non-traffic-related accidents or anything other than collision. These include man-made incidents such as fire, theft, and vandalism, and natural disasters like hailstorms and hurricanes. You can learn more about this type of policy by checking out our guide to comprehensive car insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\"><strong>Classic car insurance optional coverages</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Spare parts and automotive tools coverage: This covers spare parts and personal tools used to maintain or restore your vehicle if they are lost or damaged because of a covered event.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Increased replacement cost: This pays out the difference if your classic car’s value increases beyond the agreed amount.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Roadside assistance: This covers towing services if your vehicle needs to be transported to the nearest workshop. Policies pay for the cost to hire a flatbed tow truck, which prevents damage and wear and tear. Coverage may also include the delivery of essential items, including fuel.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Auto show medical reimbursement coverage: This pays for the medical expenses for injuries sustained at an exhibit or event caused by an accident involving your car.&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Cherished salvage coverage: If your car has been totaled because of an insured event, you may opt to keep the salvaged car and still get a payout from your insurer, minus the deductible.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Most classic car insurance policies provide coverage even if you’re not with your vehicle. For example, while it is being displayed at a car show.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Insurers also won’t typically allow you to take out liability-only policies. To access coverage, you will need to purchase additional policies that match the needs of your vintage car.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"medium\"} -->\n<p class=\"has-medium-font-size\"><strong>What is excluded from classic car insurance?</strong><br>Even if your vehicle meets an insurer’s criteria of a classic car, it won’t be covered if you use it for your regular commute or daily errands. If this is the case, you will need to take out standard car insurance. Some policies will even require you to have a primary vehicle before providing coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Classic cars used at the racetrack are likewise not covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most policies come with mileage limitations. Some only allow you to drive your car at certain events, including car exhibitions, parades, and other classic car club activities. Many also have strict requirements regarding where your vehicle should be garaged.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"medium\"} -->\n<p class=\"has-medium-font-size\"><strong>What is considered a classic car?</strong><br>Each insurer has its own definition of a classic car, but most consider a motor vehicle that is rare and of historical interest and at least a decade old as one.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This is different from an antique car, which many auto insurers define as at least 25 years old.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Both types of vehicles must be restored, maintained, or preserved by automobile hobbyists to be eligible for coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most classic car insurance providers offer coverage for reproduction antique and classic vehicles, also called replicas. Some insurers also cover modified and newer cars, sometimes referred to as modern or future classics.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"medium\"} -->\n<p class=\"has-medium-font-size\"><strong>What factors should you consider when taking out classic car insurance?</strong><br>Classic car insurance providers offer a range of coverages, so you won’t have a shortage of options when it comes to getting protection for your ride.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The Insurance Information Institute (Triple-I) listed the most important factors to consider when choosing coverage for your classic car. These are:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><!-- wp:list-item -->\n<li><strong>Your car’s value</strong><br>Classic car insurance covers your vehicle at a value you and your insurer have agreed upon. This is where car appraisal comes in handy. It helps provide an accurate figure of how much your car is worth. And because classic vehicles often increase in value rather than depreciate, be sure to purchase a policy that allows you to adjust your coverage limits.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Specialized repair or restoration</strong><br>Because classic and vintage cars often have specialized needs, taking them to the wrong auto shop may lead to more damage. Your policy must give you the flexibility to choose a specialist, even if it costs two or three times more than conventional repair shops. Some policies may even allow you to bring your vehicle to a mechanic that you trust, even if that mechanic is you.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Special towing and spare parts</strong><br>Your policy should pay for flatbed towing to prevent additional damage to your car. It must also cover for the cost of replacing valuable original and hard-to-find components. These include engine parts.</li>\n<!-- /wp:list-item --></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"fontSize\":\"medium\"} -->\n<p class=\"has-medium-font-size\"><strong>How much does classic car insurance cost?</strong><br>Just like standard auto policies, classic car insurance rates are calculated using a highly individualized set of variables, which make it difficult to provide a one-size-fits-all estimate of the cost. However, classic car policies are typically less expensive than regular car insurance because of these factors:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>• Classic cars are driven less, reducing the likelihood of accidents.<br>• Classic cars are often kept in a fully closed garage or secured storage facility, decreasing the likelihood of theft and vandalism.<br>• Classic car owners take good care of their vehicles, reducing their likelihood of filing a claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><br>Despite classic car insurance rates being cheaper than those for standard auto policies, there are still several practical ways to slash your premiums.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"large\"} -->\n<p class=\"has-large-font-size\"><strong>Do you need classic car insurance?</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Yes, you need insurance to drive your classic car. Motorists are legally required in all states – except New Hampshire and Virginia – to carry auto insurance to operate a vehicle. Getting caught driving uninsured can result in hefty fines and affect your future eligibility for obtaining cover.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But unlike regular vehicle owners who can just take out minimum liability coverage to operate a vehicle, classic car enthusiasts can’t typically purchase liability-only policies. Most insurers will require you to take out additional coverage to ensure that you and your vehicle are fully protected.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>And considering the relatively cheaper cost of coverage, taking out classic car insurance plays a crucial role in keeping something you cherish fully protected.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Many of the country’s largest auto insurers also provide coverage for classic cars.</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.insurancebusinessmag.com/us/guides/what-to-look-for-in-classic-car-insurance-457303.aspx\">click here</a>.</p>\n<!-- /wp:paragraph -->','What to Look For in Classic Car Insurance','','publish','closed','closed','','what-to-look-for-in-classic-car-insurance','','','2023-11-22 22:02:52','2023-11-22 22:02:52','',0,'https://smartinsurance.tips/?p=3667',0,'post','',0),(3668,1,'2023-11-22 21:55:26','2023-11-22 21:55:26','','Untitled-50','','inherit','closed','closed','','untitled-50','','','2023-11-22 21:55:26','2023-11-22 21:55:26','',3667,'http://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-50.png',0,'attachment','image/png',0),(3669,1,'2023-11-22 22:02:52','2023-11-22 22:02:52','<!-- wp:paragraph -->\n<p>You don\'t treat your vintage car just like any other ride – this includes getting the right coverage. Find out how classic car insurance works in this guide.</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\":3668,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-50-1024x1024.png\" alt=\"\" class=\"wp-image-3668\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>If you own a classic car, you know how much effort – and not to mention money – it takes to keep your ride in top condition. You don’t treat your vintage car just like any other set of wheels. And this should apply to car insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Standard auto insurance, however, doesn’t always provide adequate coverage for your collectible or antique ride. For such vehicles with unique needs, you also need a different kind of protection called classic car insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><em>Insurance Business </em>gives you a walkthrough of this type of auto policy in this guide. We will explain how this form of coverage works, how it differs from regular car insurance, and what you should be looking for when choosing a policy. Read on and find out everything you need to know about classic car insurance.  </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"large\"} -->\n<p class=\"has-large-font-size\"><strong>What is classic car insurance and how does it work?</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>As the name suggests, classic car insurance is a type of auto insurance policy designed for vintage, antique, or classic cars. It pays out the cost to repair or restore your ride if it has been damaged by a covered event.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But unlike standard car insurance, which typically covers vehicles on an actual cash value basis, classic car coverage insures vehicles based on an agreed cash value. This is the amount that you and your insurer have agreed upon following an appraisal.&nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>There’s a reason for this: while conventional vehicles depreciate, vintage cars don’t necessarily lose value as they age. Because of the care and maintenance that classic vehicles receive, they often keep or increase their worth over time. As your collector car gains value, most classic car insurance policies will also allow you to adjust your coverage limits accordingly.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Different insurers have varying eligibility requirements regarding what is considered a classic car. Generally, insurance companies provide coverage if your vehicle meets these criteria:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>It must be in good condition.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>It must be at least 25 years old or 20 years old with collectible value.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>It must be your secondary vehicle – you don’t use it for your regular commute or travel.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>It must not be used for racing.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>It must be stored in a fully closed or climate-controlled garage.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>It must be driven no more than 7,500 miles a year, although the distance may vary depending on the insurer.&nbsp;</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Some classic car insurance providers offer coverage for new cars, including Corvettes and Ferraris, as long as these meet the criteria above, excluding the age requirement, of course.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Insurers also impose strict eligibility requirements for the drivers. If you want to insure your classic car, you can only access coverage if these conditions apply:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>You must be at least 25 years old.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You must have at least five years of driving experience.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You must have a clean driving record.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You must have had no more than one at-fault accident or moving violation within the past three years.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Most policies, however, extend coverage beyond just classic and collector vehicles. The table below lists the different types of vehicles that can be covered under a classic car insurance policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"large\"} -->\n<p class=\"has-large-font-size\"><strong>What does classic car insurance cover?</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Classic car insurance provides the same types of coverage as standard auto policies, but with optional extras designed to meet the needs of classic car enthusiasts. Some of the most common types of classic car coverage include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"fontSize\":\"large\"} -->\n<h3 class=\"wp-block-heading has-large-font-size\"><strong>Classic car insurance standard policies</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4 class=\"wp-block-heading\"><em>Bodily injury liability coverage:</em></h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This helps pay for medical expenses resulting from injuries you caused another person and a part of their lost income if they are unable to work.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Such policies also cover funeral costs and legal expenses if you’re sued because of the accident. Bodily injury liability is one of the minimum coverages required in almost all states, except Florida, which has a different set of car insurance requirements.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4 class=\"wp-block-heading\"><em>Property damage liability coverage:</em></h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This compensates the other driver for the losses or damage you caused to their property. It also pays out the legal and settlement costs you incur due to a lawsuit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4 class=\"wp-block-heading\"><em>Uninsured/underinsured motorist coverage:</em></h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Often bundled together, these policies pay out for the injuries and property damage you and your passengers suffer if you are hit by an uninsured or underinsured driver. They also cover hit-and-run accidents.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4 class=\"wp-block-heading\"><em>Collision coverage:</em></h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This pays out the cost to repair or replace your car if it collides with another vehicle or object.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":4} -->\n<h4 class=\"wp-block-heading\"><em>Comprehensive coverage:</em></h4>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>This covers the repair or replacement cost of your classic car if it is lost or damaged due to non-traffic-related accidents or anything other than collision. These include man-made incidents such as fire, theft, and vandalism, and natural disasters like hailstorms and hurricanes. You can learn more about this type of policy by checking out our guide to comprehensive car insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\"><strong>Classic car insurance optional coverages</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Spare parts and automotive tools coverage: This covers spare parts and personal tools used to maintain or restore your vehicle if they are lost or damaged because of a covered event.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Increased replacement cost: This pays out the difference if your classic car’s value increases beyond the agreed amount.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Roadside assistance: This covers towing services if your vehicle needs to be transported to the nearest workshop. Policies pay for the cost to hire a flatbed tow truck, which prevents damage and wear and tear. Coverage may also include the delivery of essential items, including fuel.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Auto show medical reimbursement coverage: This pays for the medical expenses for injuries sustained at an exhibit or event caused by an accident involving your car.&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Cherished salvage coverage: If your car has been totaled because of an insured event, you may opt to keep the salvaged car and still get a payout from your insurer, minus the deductible.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Most classic car insurance policies provide coverage even if you’re not with your vehicle. For example, while it is being displayed at a car show.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Insurers also won’t typically allow you to take out liability-only policies. To access coverage, you will need to purchase additional policies that match the needs of your vintage car.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"medium\"} -->\n<p class=\"has-medium-font-size\"><strong>What is excluded from classic car insurance?</strong><br>Even if your vehicle meets an insurer’s criteria of a classic car, it won’t be covered if you use it for your regular commute or daily errands. If this is the case, you will need to take out standard car insurance. Some policies will even require you to have a primary vehicle before providing coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Classic cars used at the racetrack are likewise not covered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most policies come with mileage limitations. Some only allow you to drive your car at certain events, including car exhibitions, parades, and other classic car club activities. Many also have strict requirements regarding where your vehicle should be garaged.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"medium\"} -->\n<p class=\"has-medium-font-size\"><strong>What is considered a classic car?</strong><br>Each insurer has its own definition of a classic car, but most consider a motor vehicle that is rare and of historical interest and at least a decade old as one.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This is different from an antique car, which many auto insurers define as at least 25 years old.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Both types of vehicles must be restored, maintained, or preserved by automobile hobbyists to be eligible for coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most classic car insurance providers offer coverage for reproduction antique and classic vehicles, also called replicas. Some insurers also cover modified and newer cars, sometimes referred to as modern or future classics.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"medium\"} -->\n<p class=\"has-medium-font-size\"><strong>What factors should you consider when taking out classic car insurance?</strong><br>Classic car insurance providers offer a range of coverages, so you won’t have a shortage of options when it comes to getting protection for your ride.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The Insurance Information Institute (Triple-I) listed the most important factors to consider when choosing coverage for your classic car. These are:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><!-- wp:list-item -->\n<li><strong>Your car’s value</strong><br>Classic car insurance covers your vehicle at a value you and your insurer have agreed upon. This is where car appraisal comes in handy. It helps provide an accurate figure of how much your car is worth. And because classic vehicles often increase in value rather than depreciate, be sure to purchase a policy that allows you to adjust your coverage limits.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Specialized repair or restoration</strong><br>Because classic and vintage cars often have specialized needs, taking them to the wrong auto shop may lead to more damage. Your policy must give you the flexibility to choose a specialist, even if it costs two or three times more than conventional repair shops. Some policies may even allow you to bring your vehicle to a mechanic that you trust, even if that mechanic is you.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Special towing and spare parts</strong><br>Your policy should pay for flatbed towing to prevent additional damage to your car. It must also cover for the cost of replacing valuable original and hard-to-find components. These include engine parts.</li>\n<!-- /wp:list-item --></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"fontSize\":\"medium\"} -->\n<p class=\"has-medium-font-size\"><strong>How much does classic car insurance cost?</strong><br>Just like standard auto policies, classic car insurance rates are calculated using a highly individualized set of variables, which make it difficult to provide a one-size-fits-all estimate of the cost. However, classic car policies are typically less expensive than regular car insurance because of these factors:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>• Classic cars are driven less, reducing the likelihood of accidents.<br>• Classic cars are often kept in a fully closed garage or secured storage facility, decreasing the likelihood of theft and vandalism.<br>• Classic car owners take good care of their vehicles, reducing their likelihood of filing a claim.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><br>Despite classic car insurance rates being cheaper than those for standard auto policies, there are still several practical ways to slash your premiums.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"fontSize\":\"large\"} -->\n<p class=\"has-large-font-size\"><strong>Do you need classic car insurance?</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Yes, you need insurance to drive your classic car. Motorists are legally required in all states – except New Hampshire and Virginia – to carry auto insurance to operate a vehicle. Getting caught driving uninsured can result in hefty fines and affect your future eligibility for obtaining cover.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But unlike regular vehicle owners who can just take out minimum liability coverage to operate a vehicle, classic car enthusiasts can’t typically purchase liability-only policies. Most insurers will require you to take out additional coverage to ensure that you and your vehicle are fully protected.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>And considering the relatively cheaper cost of coverage, taking out classic car insurance plays a crucial role in keeping something you cherish fully protected.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Many of the country’s largest auto insurers also provide coverage for classic cars.</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.insurancebusinessmag.com/us/guides/what-to-look-for-in-classic-car-insurance-457303.aspx\">click here</a>.</p>\n<!-- /wp:paragraph -->','What to Look For in Classic Car Insurance','','inherit','closed','closed','','3667-revision-v1','','','2023-11-22 22:02:52','2023-11-22 22:02:52','',3667,'https://smartinsurance.tips/?p=3669',0,'revision','',0),(3670,1,'2023-11-22 22:14:56','2023-11-22 22:14:56','<!-- wp:paragraph -->\n<p>Workers\' compensation insurance protects your employees and your business when someone is injured on the job.</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\":3671,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/rsz_untitled_52.png\" alt=\"\" class=\"wp-image-3671\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Workers’ compensation insurance is coverage that pays for employees’ medical expenses and a portion of lost pay after work-related injuries and generally shields companies from employee lawsuits stemming from these injuries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most states require some form of workers’ comp insurance for companies with employees, including small businesses, though there are exemptions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How does workers\' compensation work?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When an employer provides workers\' compensation coverage, employees are guaranteed a certain amount of coverage for workplace injuries and restricted in when they can sue their employers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Regardless of your policy, how workers\' compensation works is similar in every state. When an employee is injured, they are required to report the injury to their employer within a certain timeframe. The employer then files a workers’ compensation claim with its insurance carrier so benefits can be granted to the employee.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What does workers\' compensation pay for?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>An employee’s individual benefits will depend on the type and severity of the injury, state requirements and the employer’s policy. Check your policy and your state’s requirements to see what’s covered. Note that if your business operates in multiple states, your policy must meet the requirements for all states in which it operates.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Generally, a workers’ compensation policy will cover the costs of an employee’s medical care as well as related costs that the employee might incur while they are recovering. Covered costs usually include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Immediate medical care:</strong> These include the costs for treatment of injuries, such as doctor visits, surgeries and medication, and might also include medical equipment like wheelchairs.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Rehabilitation:</strong> For an extensive recovery period, benefits often cover physical and other therapies. If an employee is unable to return to work due to long-term effects of their injuries, some workers’ comp policies will pay for vocational rehabilitation to train the employee for a new career.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Disability and lost wages:</strong> This benefit partially replaces an employee’s lost wages if they are unable to work. This can be paid out for partial or total disability as well as temporary and permanent disability and is separate from Social Security disability benefits.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Survivor benefits:</strong> If an employee dies because of a work-related injury, workers’ comp provides the employee’s family with financial support to compensate for their lost income and generally covers some funeral expenses.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Nerdy Tip: If your business provides services in multiple states, your policy must meet the requirements for all states in which it operates.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What isn’t covered by workers\' compensation insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are standard situations in which workers’ comp won’t pay for an employee’s medical expenses. A few examples of these situations include when an employee is:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Under the influence of alcohol or illegal drugs at the time of the injury.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>On the premises while voluntarily participating in a wellness program or recreational activity.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Eating food that they have prepared for their personal meal.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Commuting to or from the work site to their personal residence or for personal reasons.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Who needs workers\' compensation insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Workers\' compensation insurance requirements vary by state. In general, whether you will need to purchase workers’ comp depends on the:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Business\'s industry.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Number of employees.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Business structure.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Some businesses that have no employees outside of the owners might qualify for an exemption.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Even if you qualify for an exemption or your state doesn’t require workers’ compensation insurance, you still might want this coverage. Without a workers\' comp insurance policy, your company could be sued by an injured employee.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Further, most personal health insurance plans have exclusions when it comes to work-related injuries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If other companies engage your business as a contractor, they might require you to have workers\' compensation insurance so you can\'t sue them if you or your employees are hurt while working for them. Workers\' comp will also protect your business if you hire subcontractors and they\'re hurt while working for you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How much does workers\' compensation insurance cost?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In 2018, workers\' comp premiums ranged from 70 cents to $2.25 per month per $100 of payroll, according to the National Academy of Social Insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But how much workers’ comp costs is determined by multiple factors, including the type of work your employees do, business location, number of employees and history of claims.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Like other types of business insurance, employers that purchase workers’ comp insurance policies and pay monthly or annual premiums. Most major insurance carriers offer workers’ comp coverage, but in certain states, you’ll purchase coverage from a state entity rather than a private company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Nerdy Tip: Workers’ compensation, which covers on-the-job injuries, is not the same as disability insurance, which pays for disabilities that can occur outside of work.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How do I get workers\' compensation coverage?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Workers’ comp is a common policy available through most major insurance providers. You\'ll need to submit information about your business and employees to ensure you qualify for your requested coverage, and the type of coverage you\'ll be required to have is determined by the states in which you do business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In certain states, you’ll need to buy coverage directly from the state office of workers’ compensation. In Ohio, for example, business owners submit an application and security deposit to the state Bureau of Workers’ Compensation. The office reviews their application and issues a policy number.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you work in a state that allows your business to purchase workers’ comp insurance, you’ll need to understand your state’s requirements and research providers to find the best workers’ compensation insurance for your business.</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.nerdwallet.com/article/small-business/what-is-workers-compensation-insurance?trk_channel=web&amp;trk_copy=What%20Is%20Workers%E2%80%99%20Compensation%3F&amp;trk_element=hyperlink&amp;trk_elementPosition=1&amp;trk_location=PostList&amp;trk_subLocation=image-list\">click here</a>.</p>\n<!-- /wp:paragraph -->','What Is Workers’ Compensation?','','publish','closed','closed','','what-is-workers-compensation','','','2023-11-22 22:14:56','2023-11-22 22:14:56','',0,'https://smartinsurance.tips/?p=3670',0,'post','',0),(3671,1,'2023-11-22 22:11:15','2023-11-22 22:11:15','','rsz_untitled_52','','inherit','closed','closed','','rsz_untitled_52','','','2023-11-22 22:11:15','2023-11-22 22:11:15','',3670,'http://smartinsurance.tips/wp-content/uploads/2023/11/rsz_untitled_52.png',0,'attachment','image/png',0),(3672,1,'2023-11-22 22:14:56','2023-11-22 22:14:56','<!-- wp:paragraph -->\n<p>Workers\' compensation insurance protects your employees and your business when someone is injured on the job.</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\":3671,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/rsz_untitled_52.png\" alt=\"\" class=\"wp-image-3671\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Workers’ compensation insurance is coverage that pays for employees’ medical expenses and a portion of lost pay after work-related injuries and generally shields companies from employee lawsuits stemming from these injuries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most states require some form of workers’ comp insurance for companies with employees, including small businesses, though there are exemptions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How does workers\' compensation work?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When an employer provides workers\' compensation coverage, employees are guaranteed a certain amount of coverage for workplace injuries and restricted in when they can sue their employers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Regardless of your policy, how workers\' compensation works is similar in every state. When an employee is injured, they are required to report the injury to their employer within a certain timeframe. The employer then files a workers’ compensation claim with its insurance carrier so benefits can be granted to the employee.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What does workers\' compensation pay for?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>An employee’s individual benefits will depend on the type and severity of the injury, state requirements and the employer’s policy. Check your policy and your state’s requirements to see what’s covered. Note that if your business operates in multiple states, your policy must meet the requirements for all states in which it operates.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Generally, a workers’ compensation policy will cover the costs of an employee’s medical care as well as related costs that the employee might incur while they are recovering. Covered costs usually include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Immediate medical care:</strong> These include the costs for treatment of injuries, such as doctor visits, surgeries and medication, and might also include medical equipment like wheelchairs.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Rehabilitation:</strong> For an extensive recovery period, benefits often cover physical and other therapies. If an employee is unable to return to work due to long-term effects of their injuries, some workers’ comp policies will pay for vocational rehabilitation to train the employee for a new career.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Disability and lost wages:</strong> This benefit partially replaces an employee’s lost wages if they are unable to work. This can be paid out for partial or total disability as well as temporary and permanent disability and is separate from Social Security disability benefits.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Survivor benefits:</strong> If an employee dies because of a work-related injury, workers’ comp provides the employee’s family with financial support to compensate for their lost income and generally covers some funeral expenses.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Nerdy Tip: If your business provides services in multiple states, your policy must meet the requirements for all states in which it operates.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What isn’t covered by workers\' compensation insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are standard situations in which workers’ comp won’t pay for an employee’s medical expenses. A few examples of these situations include when an employee is:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Under the influence of alcohol or illegal drugs at the time of the injury.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>On the premises while voluntarily participating in a wellness program or recreational activity.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Eating food that they have prepared for their personal meal.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Commuting to or from the work site to their personal residence or for personal reasons.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Who needs workers\' compensation insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Workers\' compensation insurance requirements vary by state. In general, whether you will need to purchase workers’ comp depends on the:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Business\'s industry.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Number of employees.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Business structure.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Some businesses that have no employees outside of the owners might qualify for an exemption.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Even if you qualify for an exemption or your state doesn’t require workers’ compensation insurance, you still might want this coverage. Without a workers\' comp insurance policy, your company could be sued by an injured employee.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Further, most personal health insurance plans have exclusions when it comes to work-related injuries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If other companies engage your business as a contractor, they might require you to have workers\' compensation insurance so you can\'t sue them if you or your employees are hurt while working for them. Workers\' comp will also protect your business if you hire subcontractors and they\'re hurt while working for you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How much does workers\' compensation insurance cost?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In 2018, workers\' comp premiums ranged from 70 cents to $2.25 per month per $100 of payroll, according to the National Academy of Social Insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But how much workers’ comp costs is determined by multiple factors, including the type of work your employees do, business location, number of employees and history of claims.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Like other types of business insurance, employers that purchase workers’ comp insurance policies and pay monthly or annual premiums. Most major insurance carriers offer workers’ comp coverage, but in certain states, you’ll purchase coverage from a state entity rather than a private company.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Nerdy Tip: Workers’ compensation, which covers on-the-job injuries, is not the same as disability insurance, which pays for disabilities that can occur outside of work.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How do I get workers\' compensation coverage?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Workers’ comp is a common policy available through most major insurance providers. You\'ll need to submit information about your business and employees to ensure you qualify for your requested coverage, and the type of coverage you\'ll be required to have is determined by the states in which you do business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In certain states, you’ll need to buy coverage directly from the state office of workers’ compensation. In Ohio, for example, business owners submit an application and security deposit to the state Bureau of Workers’ Compensation. The office reviews their application and issues a policy number.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you work in a state that allows your business to purchase workers’ comp insurance, you’ll need to understand your state’s requirements and research providers to find the best workers’ compensation insurance for your business.</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.nerdwallet.com/article/small-business/what-is-workers-compensation-insurance?trk_channel=web&amp;trk_copy=What%20Is%20Workers%E2%80%99%20Compensation%3F&amp;trk_element=hyperlink&amp;trk_elementPosition=1&amp;trk_location=PostList&amp;trk_subLocation=image-list\">click here</a>.</p>\n<!-- /wp:paragraph -->','What Is Workers’ Compensation?','','inherit','closed','closed','','3670-revision-v1','','','2023-11-22 22:14:56','2023-11-22 22:14:56','',3670,'https://smartinsurance.tips/?p=3672',0,'revision','',0),(3673,1,'2023-11-22 22:18:22','2023-11-22 22:18:22','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3674,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-53-1024x1024.png\" alt=\"\" class=\"wp-image-3674\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Most pet insurance companies cover only cats and dogs, but pet owners who prefer other types of furry, feathered or scaly friends may want pet insurance, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you’re sharing your home with pets like a cockatoo, chinchilla, bearded dragon or pot-bellied pig, you may want to consider getting exotic pet insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What is Exotic Pet Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Exotic pet insurance is a health insurance policy for your exotic pet that pays for veterinary expenses. This includes exotic pets such as amphibians, birds, fish, reptiles and small mammals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Types of Exotic Pet Insurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Nationwide pet insurance offers an avian and exotic pet accident and illness pet insurance plan. This type of plan covers vet bills for accidents (such as soft tissue trauma) and illnesses (such as feather loss or arthritis).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Exotic pet insurance from Nationwide is reimbursement-based: You’ll pay upfront for your exotic pet’s vet bills and submit a claim to your pet insurance company. If your vet expenses are covered by your policy, your insurer will reimburse you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Does Exotic Pet Insurance Cover?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Exotic pet insurance from Nationwide covers veterinary expenses for accidents such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Broken bones</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Soft tissue trauma</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Sprains</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Lacerations</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Poisoning</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>It covers veterinary bills for illnesses such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Allergies</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Arthritis</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Cancer</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Diarrhea</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Ear infections</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Eye injuries</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Feather picking/loss</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Foreign body ingestion</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Internal parasites</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Mouth rot</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Overgrown teeth</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Upper respiratory infection</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>And an exotic pet insurance plan covers veterinary services such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Avian specific diagnostic tests.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Diagnostic tests such as blood tests, biopsies, radiographs and urinalysis.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Hospitalizations.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Prescription medication.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Treatments.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Surgeries.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Does Exotic Pet Insurance Cover Routine Care?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Exotic pet insurance from Nationwide does not cover routine care. Pet wellness plans typically cover routine care costs such as annual vet exams and vaccinations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You may be able to find a wellness plan for routine care for exotic pets as a stand-alone plan. For example, Pet Assure’s “Mint Wellness” plan covers vet exam fees and other types of expenses for all types of pets, including exotic pets.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Exotic Pet Insurance Doesn’t Cover</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Common exotic pet insurance exclusions include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Boarding or transport expenses.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Breeding costs.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Congenital or hereditary defects or diseases.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Costs unrelated to veterinary care.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Diseases preventable by vaccines.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Elective procedures such as wing clipping and nail trims.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Food and supplements such as vitamins.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Orthodontics.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Pre-existing conditions, which are injuries or illnesses that happened before you purchased an exotic pet insurance plan.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Routine care, examinations and vaccinations.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Surgical removal of reproductive organs, expression or removal of scent glands.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Certain types of exotic pets are not covered, including:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Any species that requires a license, permit or registration by federal or state law.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Any species that is illegal to own by federal or state law.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Endangered or threatened species.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Hybrids of domesticated pets with a wild/non-domesticated species.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Species that are kept in flocks or on display.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Venomous or poisonous species.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Does Exotic Pet Insurance Cost?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Exotic pet insurance from Nationwide generally costs less than $21 a month</strong>, according to the company’s website. Your own exotic pet insurance costs will depend on factors such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Type of pet.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Annual coverage amount.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Where you live.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Is Pet Insurance for Exotic Animals Necessary?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Pet insurance for exotic animals is not necessary, but it’s a good way to cover unexpected veterinary bills. For example, if your pot-bellied pig ingests a foreign object, emergency surgery could cost you thousands of dollars at the vet. Without pet insurance, you would have to pay the vet bills out of pocket.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The best way to determine if pet insurance is worth it is to consider how a major vet bill would impact your personal finances versus the annual cost of an exotic pet insurance plan.</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/exotic-pet-insurance/\">click here</a>.</p>\n<!-- /wp:paragraph -->','What is Exotic Pet Insurance?','','publish','closed','closed','','what-is-exotic-pet-insurance','','','2023-11-22 22:18:22','2023-11-22 22:18:22','',0,'https://smartinsurance.tips/?p=3673',0,'post','',0),(3674,1,'2023-11-22 22:17:04','2023-11-22 22:17:04','','Untitled-53','','inherit','closed','closed','','untitled-53','','','2023-11-22 22:17:04','2023-11-22 22:17:04','',3673,'http://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-53.png',0,'attachment','image/png',0),(3675,1,'2023-11-22 22:18:22','2023-11-22 22:18:22','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3674,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-53-1024x1024.png\" alt=\"\" class=\"wp-image-3674\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Most pet insurance companies cover only cats and dogs, but pet owners who prefer other types of furry, feathered or scaly friends may want pet insurance, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you’re sharing your home with pets like a cockatoo, chinchilla, bearded dragon or pot-bellied pig, you may want to consider getting exotic pet insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What is Exotic Pet Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Exotic pet insurance is a health insurance policy for your exotic pet that pays for veterinary expenses. This includes exotic pets such as amphibians, birds, fish, reptiles and small mammals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Types of Exotic Pet Insurance</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Nationwide pet insurance offers an avian and exotic pet accident and illness pet insurance plan. This type of plan covers vet bills for accidents (such as soft tissue trauma) and illnesses (such as feather loss or arthritis).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Exotic pet insurance from Nationwide is reimbursement-based: You’ll pay upfront for your exotic pet’s vet bills and submit a claim to your pet insurance company. If your vet expenses are covered by your policy, your insurer will reimburse you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Does Exotic Pet Insurance Cover?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Exotic pet insurance from Nationwide covers veterinary expenses for accidents such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Broken bones</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Soft tissue trauma</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Sprains</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Lacerations</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Poisoning</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>It covers veterinary bills for illnesses such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Allergies</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Arthritis</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Cancer</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Diarrhea</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Ear infections</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Eye injuries</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Feather picking/loss</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Foreign body ingestion</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Internal parasites</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Mouth rot</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Overgrown teeth</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Upper respiratory infection</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>And an exotic pet insurance plan covers veterinary services such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Avian specific diagnostic tests.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Diagnostic tests such as blood tests, biopsies, radiographs and urinalysis.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Hospitalizations.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Prescription medication.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Treatments.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Surgeries.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Does Exotic Pet Insurance Cover Routine Care?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Exotic pet insurance from Nationwide does not cover routine care. Pet wellness plans typically cover routine care costs such as annual vet exams and vaccinations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You may be able to find a wellness plan for routine care for exotic pets as a stand-alone plan. For example, Pet Assure’s “Mint Wellness” plan covers vet exam fees and other types of expenses for all types of pets, including exotic pets.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Exotic Pet Insurance Doesn’t Cover</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Common exotic pet insurance exclusions include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Boarding or transport expenses.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Breeding costs.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Congenital or hereditary defects or diseases.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Costs unrelated to veterinary care.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Diseases preventable by vaccines.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Elective procedures such as wing clipping and nail trims.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Food and supplements such as vitamins.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Orthodontics.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Pre-existing conditions, which are injuries or illnesses that happened before you purchased an exotic pet insurance plan.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Routine care, examinations and vaccinations.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Surgical removal of reproductive organs, expression or removal of scent glands.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Certain types of exotic pets are not covered, including:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Any species that requires a license, permit or registration by federal or state law.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Any species that is illegal to own by federal or state law.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Endangered or threatened species.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Hybrids of domesticated pets with a wild/non-domesticated species.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Species that are kept in flocks or on display.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Venomous or poisonous species.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Does Exotic Pet Insurance Cost?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Exotic pet insurance from Nationwide generally costs less than $21 a month</strong>, according to the company’s website. Your own exotic pet insurance costs will depend on factors such as:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Type of pet.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Annual coverage amount.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Where you live.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Is Pet Insurance for Exotic Animals Necessary?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Pet insurance for exotic animals is not necessary, but it’s a good way to cover unexpected veterinary bills. For example, if your pot-bellied pig ingests a foreign object, emergency surgery could cost you thousands of dollars at the vet. Without pet insurance, you would have to pay the vet bills out of pocket.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The best way to determine if pet insurance is worth it is to consider how a major vet bill would impact your personal finances versus the annual cost of an exotic pet insurance plan.</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/exotic-pet-insurance/\">click here</a>.</p>\n<!-- /wp:paragraph -->','What is Exotic Pet Insurance?','','inherit','closed','closed','','3673-revision-v1','','','2023-11-22 22:18:22','2023-11-22 22:18:22','',3673,'https://smartinsurance.tips/?p=3675',0,'revision','',0),(3676,1,'2023-11-22 22:21:26','2023-11-22 22:21:26','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3677,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-54-1024x1024.png\" alt=\"\" class=\"wp-image-3677\"/></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 an Underinsured Motorist Endorsement?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">In the insurance industry, an underinsured motorist endorsement is a type of supplemental insurance commonly purchased as part of an automobile insurance policy. Its purpose is to provide additional coverage to the policyholder in the event of an accident resulting from another driver whose policy does not cover the total costs of the accident.</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>An underinsured motorist endorsement is a type of supplemental auto insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>It serves to protect drivers from the risk that, if they enter into an accident, the at-fault driver may not have sufficient coverage to pay for their claim.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Underinsured motorist endorsements are mandatory in many states and typically last between six and twelve months.</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 Underinsured Motorist Endorsements Work</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">Drivers purchase auto insurance for several reasons, such as the risk of their car becoming damaged in an accident, the risk of damaging another person’s car, or the risk of killing or injuring another person. But one risk that is sometimes neglected by drivers is the possibility that they might be injured, or have their car damaged, by another driver who has failed to take out adequate auto insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-8\">In that instance, the policyholder might have a legitimate claim against the at-fault driver but be unable to collect damages. After all, if the at-fault driver does not have the necessary assets or insurance, they might simply declare bankruptcy, leaving little or nothing for the victim to collect.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-10\">To protect against this risk, drivers can purchase underinsured motorist endorsements as part of their auto insurance policy. This supplemental insurance policy covers property damages, bodily injury to the policyholder, as well as injuries to insured family members or passengers. If a claim needs to be filed, the endorsement can cover the difference between the coverage paid by the at-fault driver’s insurance and the full amount owing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-12\">In a scenario where the at-fault driver has no insurance and no personal assets to pay for the claim, the endorsement would therefore cover the entire amount of the claim, up to the maximum coverage level specified in the policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-14\">In many states, drivers are required by law to purchase underinsured motorist endorsements, although it is sometimes referred to using different terms. In some cases, this coverage only applies when the at-fault driver has no auto insurance at all, as opposed to covering the gap between their coverage and the claim amount.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-16\">Although the precise insurance requirements vary from state to state, they typically last from six to twelve months and are renewable thereafter. As with most insurance policies, the insurance premiums associated with the coverage will vary based on factors such as the policyholder’s age, years of driving history, and history of claims.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-18\">Real-World Example of an Underinsured Motorist Endorsement</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-19\">To illustrate, consider a situation where Driver A gets into an accident with Driver B. The at-fault driver in this scenario is Driver A, and the full damages associated with the incident amount to $175,000. Unfortunately, Driver A only has $100,000 of coverage, but thankfully Driver B has an underinsured motorist endorsement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">For this reason, Driver A’s insurance pays $100,000 out of the $175,000 total, whereas Driver B’s insurance pays the remaining balance of $75,000. Because Driver B purchased an underinsured motorist endorsement, he is able to receive the full $175,000 and be made whole.</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/u/underinsured-motorist-endorsement.asp#:~:text=Key%20Takeaways,to%20pay%20for%20their%20claim.\">click here</a>.</p>\n<!-- /wp:paragraph -->','Underinsured Motorist Endorsement','','publish','closed','closed','','underinsured-motorist-endorsement','','','2023-11-22 22:21:26','2023-11-22 22:21:26','',0,'https://smartinsurance.tips/?p=3676',0,'post','',0),(3677,1,'2023-11-22 22:19:29','2023-11-22 22:19:29','','Untitled-54','','inherit','closed','closed','','untitled-54','','','2023-11-22 22:19:29','2023-11-22 22:19:29','',3676,'http://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-54.png',0,'attachment','image/png',0),(3678,1,'2023-11-22 22:21:26','2023-11-22 22:21:26','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3677,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/11/Untitled-54-1024x1024.png\" alt=\"\" class=\"wp-image-3677\"/></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 an Underinsured Motorist Endorsement?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">In the insurance industry, an underinsured motorist endorsement is a type of supplemental insurance commonly purchased as part of an automobile insurance policy. Its purpose is to provide additional coverage to the policyholder in the event of an accident resulting from another driver whose policy does not cover the total costs of the accident.</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>An underinsured motorist endorsement is a type of supplemental auto insurance.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>It serves to protect drivers from the risk that, if they enter into an accident, the at-fault driver may not have sufficient coverage to pay for their claim.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Underinsured motorist endorsements are mandatory in many states and typically last between six and twelve months.</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 Underinsured Motorist Endorsements Work</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-6\">Drivers purchase auto insurance for several reasons, such as the risk of their car becoming damaged in an accident, the risk of damaging another person’s car, or the risk of killing or injuring another person. But one risk that is sometimes neglected by drivers is the possibility that they might be injured, or have their car damaged, by another driver who has failed to take out adequate auto insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-8\">In that instance, the policyholder might have a legitimate claim against the at-fault driver but be unable to collect damages. After all, if the at-fault driver does not have the necessary assets or insurance, they might simply declare bankruptcy, leaving little or nothing for the victim to collect.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-10\">To protect against this risk, drivers can purchase underinsured motorist endorsements as part of their auto insurance policy. This supplemental insurance policy covers property damages, bodily injury to the policyholder, as well as injuries to insured family members or passengers. If a claim needs to be filed, the endorsement can cover the difference between the coverage paid by the at-fault driver’s insurance and the full amount owing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-12\">In a scenario where the at-fault driver has no insurance and no personal assets to pay for the claim, the endorsement would therefore cover the entire amount of the claim, up to the maximum coverage level specified in the policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-14\">In many states, drivers are required by law to purchase underinsured motorist endorsements, although it is sometimes referred to using different terms. In some cases, this coverage only applies when the at-fault driver has no auto insurance at all, as opposed to covering the gap between their coverage and the claim amount.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-16\">Although the precise insurance requirements vary from state to state, they typically last from six to twelve months and are renewable thereafter. As with most insurance policies, the insurance premiums associated with the coverage will vary based on factors such as the policyholder’s age, years of driving history, and history of claims.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-18\">Real-World Example of an Underinsured Motorist Endorsement</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-19\">To illustrate, consider a situation where Driver A gets into an accident with Driver B. The at-fault driver in this scenario is Driver A, and the full damages associated with the incident amount to $175,000. Unfortunately, Driver A only has $100,000 of coverage, but thankfully Driver B has an underinsured motorist endorsement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">For this reason, Driver A’s insurance pays $100,000 out of the $175,000 total, whereas Driver B’s insurance pays the remaining balance of $75,000. Because Driver B purchased an underinsured motorist endorsement, he is able to receive the full $175,000 and be made whole.</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/u/underinsured-motorist-endorsement.asp#:~:text=Key%20Takeaways,to%20pay%20for%20their%20claim.\">click here</a>.</p>\n<!-- /wp:paragraph -->','Underinsured Motorist Endorsement','','inherit','closed','closed','','3676-revision-v1','','','2023-11-22 22:21:26','2023-11-22 22:21:26','',3676,'https://smartinsurance.tips/?p=3678',0,'revision','',0),(3680,1,'2023-12-19 19:10:13','2023-12-19 19:10:13','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3681,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/CcysXCF-1024x1024.png\" alt=\"\" class=\"wp-image-3681\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading {\"level\":1} -->\n<h1 class=\"wp-block-heading\">Top 6 benefits of online banking</h1>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The internet has come a long way since&nbsp;its&nbsp;initial conception&nbsp;and,&nbsp;over the past&nbsp;few&nbsp;years,&nbsp;we’ve seen&nbsp;a whole wealth of useful&nbsp;things crop up&nbsp;– not least, online banking.&nbsp;&nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you’ve not yet taken the plunge and started banking online,&nbsp;you’re missing out on a whole host of useful features.&nbsp;Keep reading to find out the top&nbsp;6&nbsp;benefits to online banking.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Whether you choose to bank on an app or website, there are loads of great benefits. Think about&nbsp;not actually having&nbsp;to waste ages queueing for assistance&nbsp;and&nbsp;having more control and easy access to your finances.&nbsp;That’s just the start! Check out our top&nbsp;6&nbsp;benefits:&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">1. Access your account 24/7&nbsp;</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>One of the biggest&nbsp;advantages of online banking&nbsp;is that you can access your account 24/7, wherever you are.&nbsp;As long as&nbsp;you have an internet connection,&nbsp;you can log on and check your finances&nbsp;– so&nbsp;not only can you do it&nbsp;while&nbsp;you’re on holiday or out shopping, but you also won’t have to worry about bank opening times&nbsp;or leaving your home when it’s not convenient.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">2. Bank on your phone or tablet&nbsp;</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You don’t have to sit up at a computer to get started with banking online – you can do it from your phone or tablet, too.&nbsp;Most banks’ websites are adapted for mobile, meaning it’s easy to use your favourite device to get online.&nbsp;What’s more, if you’re concerned about missing out on the personal interaction,&nbsp;support is usually clearly signposted,&nbsp;allowing you to live chat or ring through to the department you need.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">3. It\'s quick and easy&nbsp;</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A huge&nbsp;advantage&nbsp;to online banking&nbsp;is just how quick and easy it is. Whether you’re using an online app or logging&nbsp;onto a website, it&nbsp;completely eliminates&nbsp;waiting in line at the bank. You&nbsp;can do everything from the comfort of your own home, including applying for credit cards and loans, as well as your&nbsp;day to day&nbsp;banking.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">4. Keep on top of your finances&nbsp;</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Online banking means you’ll be able to keep on top of your finances far&nbsp;more easily. You’ll be able to check your balance quickly, view your transactions and know exactly what’s going out and when,&nbsp;as well as&nbsp;look at historical payments to make sure they’re cleared. Additionally, it’s easier to check for any unauthorised purchases, so you’ll be able to flag these as soon as you notice them.&nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">5. Pay bills and make payments&nbsp;</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Gone are the days of lengthy forms and having to post cheques to pay bills. One of the key&nbsp;benefits with online banking&nbsp;means you can pay all your bills&nbsp;or make payments&nbsp;through&nbsp;your bank’s&nbsp;website.&nbsp;You can set up direct debits, standing orders,&nbsp;and even send money to friends and family members.&nbsp;It doesn’t get more convenient than that.&nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">6. Transfer money between accounts&nbsp;</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>With an online bank account, transferring money between accounts couldn’t be simpler. This may be a particularly great benefit if you have a savings account and find yourself frequently having to transfer money between the two. All you’ll have to do is log on to your banking and do it yourself, you don’t have to worry about going in branch or phoning someone to do it for you. </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://hodgebank.co.uk/articles/benefits-of-online-banking-why-you-should-be-online-2/#:~:text=One%20of%20the%20biggest%20advantages,%2F7%2C%20wherever%20you%20are.\">click here.</a></p>\n<!-- /wp:paragraph -->','Benefits of Online Banking: Why You Should Be Online','','publish','closed','closed','','benefits-of-online-banking-why-you-should-be-online','','','2023-12-19 19:10:13','2023-12-19 19:10:13','',0,'https://smartinsurance.tips/?p=3680',0,'post','',0),(3681,1,'2023-12-19 19:09:38','2023-12-19 19:09:38','','CcysXCF','','inherit','closed','closed','','ccysxcf','','','2023-12-19 19:09:38','2023-12-19 19:09:38','',3680,'http://smartinsurance.tips/wp-content/uploads/2023/12/CcysXCF.png',0,'attachment','image/png',0),(3682,1,'2023-12-19 19:10:13','2023-12-19 19:10:13','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3681,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/CcysXCF-1024x1024.png\" alt=\"\" class=\"wp-image-3681\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading {\"level\":1} -->\n<h1 class=\"wp-block-heading\">Top 6 benefits of online banking</h1>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The internet has come a long way since&nbsp;its&nbsp;initial conception&nbsp;and,&nbsp;over the past&nbsp;few&nbsp;years,&nbsp;we’ve seen&nbsp;a whole wealth of useful&nbsp;things crop up&nbsp;– not least, online banking.&nbsp;&nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you’ve not yet taken the plunge and started banking online,&nbsp;you’re missing out on a whole host of useful features.&nbsp;Keep reading to find out the top&nbsp;6&nbsp;benefits to online banking.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Whether you choose to bank on an app or website, there are loads of great benefits. Think about&nbsp;not actually having&nbsp;to waste ages queueing for assistance&nbsp;and&nbsp;having more control and easy access to your finances.&nbsp;That’s just the start! Check out our top&nbsp;6&nbsp;benefits:&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">1. Access your account 24/7&nbsp;</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>One of the biggest&nbsp;advantages of online banking&nbsp;is that you can access your account 24/7, wherever you are.&nbsp;As long as&nbsp;you have an internet connection,&nbsp;you can log on and check your finances&nbsp;– so&nbsp;not only can you do it&nbsp;while&nbsp;you’re on holiday or out shopping, but you also won’t have to worry about bank opening times&nbsp;or leaving your home when it’s not convenient.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">2. Bank on your phone or tablet&nbsp;</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You don’t have to sit up at a computer to get started with banking online – you can do it from your phone or tablet, too.&nbsp;Most banks’ websites are adapted for mobile, meaning it’s easy to use your favourite device to get online.&nbsp;What’s more, if you’re concerned about missing out on the personal interaction,&nbsp;support is usually clearly signposted,&nbsp;allowing you to live chat or ring through to the department you need.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">3. It\'s quick and easy&nbsp;</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A huge&nbsp;advantage&nbsp;to online banking&nbsp;is just how quick and easy it is. Whether you’re using an online app or logging&nbsp;onto a website, it&nbsp;completely eliminates&nbsp;waiting in line at the bank. You&nbsp;can do everything from the comfort of your own home, including applying for credit cards and loans, as well as your&nbsp;day to day&nbsp;banking.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">4. Keep on top of your finances&nbsp;</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Online banking means you’ll be able to keep on top of your finances far&nbsp;more easily. You’ll be able to check your balance quickly, view your transactions and know exactly what’s going out and when,&nbsp;as well as&nbsp;look at historical payments to make sure they’re cleared. Additionally, it’s easier to check for any unauthorised purchases, so you’ll be able to flag these as soon as you notice them.&nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">5. Pay bills and make payments&nbsp;</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Gone are the days of lengthy forms and having to post cheques to pay bills. One of the key&nbsp;benefits with online banking&nbsp;means you can pay all your bills&nbsp;or make payments&nbsp;through&nbsp;your bank’s&nbsp;website.&nbsp;You can set up direct debits, standing orders,&nbsp;and even send money to friends and family members.&nbsp;It doesn’t get more convenient than that.&nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">6. Transfer money between accounts&nbsp;</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>With an online bank account, transferring money between accounts couldn’t be simpler. This may be a particularly great benefit if you have a savings account and find yourself frequently having to transfer money between the two. All you’ll have to do is log on to your banking and do it yourself, you don’t have to worry about going in branch or phoning someone to do it for you. </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://hodgebank.co.uk/articles/benefits-of-online-banking-why-you-should-be-online-2/#:~:text=One%20of%20the%20biggest%20advantages,%2F7%2C%20wherever%20you%20are.\">click here.</a></p>\n<!-- /wp:paragraph -->','Benefits of Online Banking: Why You Should Be Online','','inherit','closed','closed','','3680-revision-v1','','','2023-12-19 19:10:13','2023-12-19 19:10:13','',3680,'https://smartinsurance.tips/?p=3682',0,'revision','',0),(3683,1,'2023-12-19 19:15:00','2023-12-19 19:15:00','<!-- wp:paragraph -->\n<p>Shake that debt hangover, fast.</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\":3684,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-2-1024x1024.png\" alt=\"\" class=\"wp-image-3684\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">In the months and weeks leading up to the holiday shopping season, you may have had the best of intentions. You may even have read up on how to save money during the holidays. But if you didn\'t save as much money as you\'d hoped—or you overspent—you\'re not alone.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Post-holiday shopping debt (often, credit card debt) is a reality every year as people spend beyond their means to give loved ones the gifts and holiday celebrations they deserve. Any debt can cause anxiety, and this lingering credit card balance or depleted checking account can feel even more stressful during uncertain economic times.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">We spoke with savings experts to find out the best ways to bounce back from a holiday shopping spree and set yourself up for financial success in the new year. Follow our tips to get that debt or guilt about overspending under control, fast.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0\">1. Don\'t Beat Yourself Up</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-1\">\"The holidays are an overwhelming time, and given it\'s been a hard year, you may have gotten carried away with your spending. If that\'s the case, don\'t spend too much time beating yourself up over it,\" says Christina Lucey, director of product and a financial advocate at financial services company Credit Karma. \"Just consider it a learning experience, and redirect your time and energy into creating a plan that will help you get your finances back on track moving forward.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-2\">In other words, spending time regretting purchases or agonizing over where you could have saved a little more money won\'t get you anywhere. The key here is to focus on moving forward, not berating yourself for past decisions you can\'t change.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-3\">Take time to express some gratitude, too, says Tonya Rapley, a money expert and founder of the financial advice site My Fab Finance. \"You made it through,\" she says. \"Give gratitude for what you\'ve been able to get done. Don\'t forget that.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-4\">2. Put a Pause on Spending</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-5\">You\'ve acknowledged that you overspent—now stop spending, even for a few days, except for essentials (like groceries). Whatever you must spend, \"take a break from utilizing those credit cards,\" Rapley says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-6\">\"If you find yourself in credit card debt, the first thing you should do is stop using the cards,\" says Lauren Anastasio, a certified financial planner at personal finance company SoFi. \"Paying off debt while continuing to charge things can make it difficult to visualize any progress towards paying off your balance. Instead, rely on debit cards, cash and checks while trying to get out of your holiday shopping debt.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-7\">Beyond the mental component of managing debt, continuing to add to your credit card balance will increase your credit utilization rate, which could ding your credit score. If you will be carrying a credit balance, that will also affect your score, so you want to do whatever you can to minimize the damage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-8\">3. Assess the Damage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-9\">Once you\'ve stopped adding to your balances, take a step back to look at how much you actually spent. Ideally, you\'ll keep tabs on your balances as you\'re spending, says Mike Kinane, a retired bank executive at TD Bank. That way, you\'ll know where you stand in regard to your budget throughout the month. If that\'s not possible (or you don\'t have a budget), take time once all your statements come in to figure out exactly how much you\'re going to owe.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-10\">\"Organize your finances so you know who you owe, [and] how much you owe,\" Rapley, who partnered with pay-over-time company Affirm to help shoppers make the most of the holiday season, says. This is especially vital if you spread your shopping across credit cards or used \"buy now, pay later\" services, such as Affirm, to manage your spending.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-11\">The more spread out your shopping is, the more important it is that you combine it all in one spreadsheet or on one piece of paper (or even on one Notes page on your phone) to see the total cost of your holiday shopping. If you took on debt, this will help you keep track of what you owe; if you used savings to pay for your shopping, you\'ll know how much you need to pay yourself back.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-12\">Anastasio recommends services such as SoFi Relay to help keep all your accounts in one place. \"Being able to see all of your accounts in one place helps you better appreciate exactly what you own and what you owe,\" she says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-13\">Don\'t just look at the balances, though. You should also do what you can to figure out what fees will come with any debt you accrued. \"Know what you\'re going to pay upfront if you can,\" Rapley says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-14\">Pick a method that works for you for tracking down and recording all your expenses—just make sure you get it done as quickly as possible. \"It\'s not the most enjoyable exercise, but it is the most meaningful,\" says Rob King, CLTC, a financial advisor with Northwestern Mutual. \"Then we have to start making a budget to get back on track.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-15\">4. Plan It Out</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-16\">Once you have a complete picture of your debt situation, make a plan for how you\'re going to address it. Obviously, the ideal situation is to use discretionary funds (say, from your travel fund) to pay off any credit cards immediately to avoid carrying a balance or getting charged interest and then pay yourself back over time. The ideal is not a reality for many, though: A survey from Discover Personal Loans in July 2020 found that a quarter of Americans report having less than $500 in savings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-17\">\"Look at how likely you are to be able to pay it off as is with the money you have coming in,\" Rapley says. If you don\'t have the money you need to eliminate your debt, put together a plan for paying it down over the next few months.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-18\">If you overspent, \"the best thing to do is pay down debt as quickly as you can,\" Kinane says. \"If you can\'t, move your debt into the lowest interest rate possible.\" This could mean flipping balances to a new credit card with a 0 percent transfer balance (if doing so would help consolidate debt, and not mean balances on too many cards) or taking out a personal loan at a lower interest rate than your credit cards offer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-19\">As you begin figuring out the order in which to pay off your debt, start with the card with the smallest balance and move up from there, experts agree. Paying off the card with the highest interest rate may save you more money in the long run, but paying off one card completely can be the motivation you need to keep paying off the others. If you\'re concerned about interest accrual, make sure you know the interest rate for each of your cards and adjust your payment plan accordingly. If one card has a slightly higher balance than the smallest one but the highest interest rate, paying that one off first can offer the same motivational boost while still reducing the amount you pay in interest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-20\">Also, don\'t be afraid to ask your lenders about leniency, flexibility, or grace periods, Rapley says. Some may give you more time to pay off your debt before they begin charging interest or offer a lower interest rate. If some accounts are inflexible while others have some wiggle room, put those inflexible ones near the top of your list.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-21\">Once you have your priority list, work on eliminating that debt over time in a way that balances paying off debt with saving for emergencies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-22\">5. Free Up Money</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-23\">If you don\'t have the excess money to pay off your credit cards, free up money to reduce your debt wherever you can.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-24\">One method is to find additional streams of income, Rapley says. If you have a cluttered attic or closet, see if you can sell anything secondhand for a little extra money. Pick up a side hustle or brainstorm ways to profit off your hobbies, like selling your knitted scarves online.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-25\">If those aren\'t options, look into cheaper forms of debt (aka debt with lower interest rates). Home equity lines of credit, or HELOCs, can allow you to borrow money against your home to pay off your high-interest credit card debt, reducing the amount of interest you\'re paying (HELOCs tend to have much lower interest rates than cards) and giving you a little space to repay more of your balances each month, Kinane says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-26\">You can also look into refinancing your mortgage to free up more money, King says. You may be able to get a more favorable rate that would lower your monthly house payment and give you more cash to put toward other debt. The same is true for any student loans.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-27\">Otherwise, look everywhere you can to lower your expenses and free up money. King says to look closely at anything that comes with a fee, such as food delivery. If you order out often, going to pick it up yourself (instead of having it delivered) could save you a chunk of money every month. Also look into cooking at home more, checking for any unused subscriptions you\'re paying for, and using other standard money-saving ideas to put a little extra toward your debt.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-28\">The one place you don\'t want to turn to for extra money is your emergency fund. Using all or most of your emergency savings to pay off credit card debt can put you in what King calls a worst-case scenario: having some credit card debt and zero cash savings when an emergency strikes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-29\">Our experts agree that you want to maintain or build savings and pay down credit card debt at the same time, not pick one over the other. Kinane says it\'s a balance: If you can use some of your savings to decrease or eliminate debt while still leaving a comfortable cushion in the bank, do it. If doing so would deplete your savings, look for other ways to pay off your debt.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-30\">6. Look Ahead</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-31\">We\'re circling back to our first tip: Use this as a learning opportunity. \"If this isn\'t the first time you\'ve spent beyond your budget, this may mean you\'re not realistically spending and saving your money,\" Lucey says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-32\">If you don\'t have one already, put together some sort of financial plan that outlines your goals (home buying, retirement, whatever) and notes what steps (saving a certain amount each year or eliminating debt, for example) you need to take to get there. Planning is key, and keeping an eye on your larger goals can help guide you through smaller challenges, including overspending during the holidays. You want to get to a point where every financial decision you make is within the context of your larger goals, King says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-33\">A budget is important here. Learning how to budget now can help keep you on track in the future, and if you do overspend, having a budget makes it easier to figure out why and how you can avoid doing it again in the future. (It makes figuring out how much you overspent easier, too.)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-34\">Once you have a plan, set some new rules for spending, Rapley says. \"A lot of people don\'t have rules when it comes to spending,\" she says. Create your own by outlining the circumstances under which you can buy something nonessential, such as waiting until you have the money to pay it off immediately, going on 30-day shopping freezes on a certain item (such as clothing), or refusing to buy anything full-price. Rapley suggests asking yourself, \"Do I need this? Can I afford the maintenance? What will happen if I don\'t buy this item today?\" to avoid pricy impulse purchases.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-35\">While you\'re planning, start preparing for next year\'s holiday season now. (It will be here before you know it.) Create a holiday account where you can stash a few extra dollars each month, Rapley says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-36\">Start shopping earlier, too. \"If you went over budget this year, jump on it earlier next year,\" King says. Make a list early and watch for sales on great gifts all year long. Take advantage of free shipping offers and seasonal sales, such as Black Friday and Cyber Monday, to buy gifts from your list. Starting early can help you save money on last-minute purchases, express shipping, and other expenses that add to the overall cost of holiday gifting. It also spreads out the cost over a few months, instead of a few weeks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-37\">Look back at the true expense of this year\'s shopping, too. If interest rates and fees pushed your spending over the edge, think about ways you can avoid hidden costs for next year\'s shopping. Rapley says to pay attention to the fees that come with every payment method and recommends services like Affirm that break large purchases into manageable payments without surprise costs or fees; other options include paying only with cash or debit cards. However you choose to shop, knowing what additional costs come with each purchase will help you minimize the damage next year.</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/money-planning/post-holiday-spending-recovery-tips\">click here.</a></p>\n<!-- /wp:paragraph -->','Overspent Over the Holidays? Here\'s How to Bounce Back (Financially, at Least)','','publish','closed','closed','','overspent-over-the-holidays-heres-how-to-bounce-back-financially-at-least','','','2023-12-19 19:15:00','2023-12-19 19:15:00','',0,'https://smartinsurance.tips/?p=3683',0,'post','',0),(3684,1,'2023-12-19 19:11:36','2023-12-19 19:11:36','','Untitled-2','','inherit','closed','closed','','untitled-2','','','2023-12-19 19:11:36','2023-12-19 19:11:36','',3683,'http://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-2.png',0,'attachment','image/png',0),(3685,1,'2023-12-19 19:15:00','2023-12-19 19:15:00','<!-- wp:paragraph -->\n<p>Shake that debt hangover, fast.</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\":3684,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-2-1024x1024.png\" alt=\"\" class=\"wp-image-3684\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">In the months and weeks leading up to the holiday shopping season, you may have had the best of intentions. You may even have read up on how to save money during the holidays. But if you didn\'t save as much money as you\'d hoped—or you overspent—you\'re not alone.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-1\">Post-holiday shopping debt (often, credit card debt) is a reality every year as people spend beyond their means to give loved ones the gifts and holiday celebrations they deserve. Any debt can cause anxiety, and this lingering credit card balance or depleted checking account can feel even more stressful during uncertain economic times.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">We spoke with savings experts to find out the best ways to bounce back from a holiday shopping spree and set yourself up for financial success in the new year. Follow our tips to get that debt or guilt about overspending under control, fast.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0\">1. Don\'t Beat Yourself Up</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-1\">\"The holidays are an overwhelming time, and given it\'s been a hard year, you may have gotten carried away with your spending. If that\'s the case, don\'t spend too much time beating yourself up over it,\" says Christina Lucey, director of product and a financial advocate at financial services company Credit Karma. \"Just consider it a learning experience, and redirect your time and energy into creating a plan that will help you get your finances back on track moving forward.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-2\">In other words, spending time regretting purchases or agonizing over where you could have saved a little more money won\'t get you anywhere. The key here is to focus on moving forward, not berating yourself for past decisions you can\'t change.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-3\">Take time to express some gratitude, too, says Tonya Rapley, a money expert and founder of the financial advice site My Fab Finance. \"You made it through,\" she says. \"Give gratitude for what you\'ve been able to get done. Don\'t forget that.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-4\">2. Put a Pause on Spending</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-5\">You\'ve acknowledged that you overspent—now stop spending, even for a few days, except for essentials (like groceries). Whatever you must spend, \"take a break from utilizing those credit cards,\" Rapley says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-6\">\"If you find yourself in credit card debt, the first thing you should do is stop using the cards,\" says Lauren Anastasio, a certified financial planner at personal finance company SoFi. \"Paying off debt while continuing to charge things can make it difficult to visualize any progress towards paying off your balance. Instead, rely on debit cards, cash and checks while trying to get out of your holiday shopping debt.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-7\">Beyond the mental component of managing debt, continuing to add to your credit card balance will increase your credit utilization rate, which could ding your credit score. If you will be carrying a credit balance, that will also affect your score, so you want to do whatever you can to minimize the damage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-8\">3. Assess the Damage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-9\">Once you\'ve stopped adding to your balances, take a step back to look at how much you actually spent. Ideally, you\'ll keep tabs on your balances as you\'re spending, says Mike Kinane, a retired bank executive at TD Bank. That way, you\'ll know where you stand in regard to your budget throughout the month. If that\'s not possible (or you don\'t have a budget), take time once all your statements come in to figure out exactly how much you\'re going to owe.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-10\">\"Organize your finances so you know who you owe, [and] how much you owe,\" Rapley, who partnered with pay-over-time company Affirm to help shoppers make the most of the holiday season, says. This is especially vital if you spread your shopping across credit cards or used \"buy now, pay later\" services, such as Affirm, to manage your spending.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-11\">The more spread out your shopping is, the more important it is that you combine it all in one spreadsheet or on one piece of paper (or even on one Notes page on your phone) to see the total cost of your holiday shopping. If you took on debt, this will help you keep track of what you owe; if you used savings to pay for your shopping, you\'ll know how much you need to pay yourself back.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-12\">Anastasio recommends services such as SoFi Relay to help keep all your accounts in one place. \"Being able to see all of your accounts in one place helps you better appreciate exactly what you own and what you owe,\" she says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-13\">Don\'t just look at the balances, though. You should also do what you can to figure out what fees will come with any debt you accrued. \"Know what you\'re going to pay upfront if you can,\" Rapley says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-14\">Pick a method that works for you for tracking down and recording all your expenses—just make sure you get it done as quickly as possible. \"It\'s not the most enjoyable exercise, but it is the most meaningful,\" says Rob King, CLTC, a financial advisor with Northwestern Mutual. \"Then we have to start making a budget to get back on track.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-15\">4. Plan It Out</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-16\">Once you have a complete picture of your debt situation, make a plan for how you\'re going to address it. Obviously, the ideal situation is to use discretionary funds (say, from your travel fund) to pay off any credit cards immediately to avoid carrying a balance or getting charged interest and then pay yourself back over time. The ideal is not a reality for many, though: A survey from Discover Personal Loans in July 2020 found that a quarter of Americans report having less than $500 in savings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-17\">\"Look at how likely you are to be able to pay it off as is with the money you have coming in,\" Rapley says. If you don\'t have the money you need to eliminate your debt, put together a plan for paying it down over the next few months.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-18\">If you overspent, \"the best thing to do is pay down debt as quickly as you can,\" Kinane says. \"If you can\'t, move your debt into the lowest interest rate possible.\" This could mean flipping balances to a new credit card with a 0 percent transfer balance (if doing so would help consolidate debt, and not mean balances on too many cards) or taking out a personal loan at a lower interest rate than your credit cards offer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-19\">As you begin figuring out the order in which to pay off your debt, start with the card with the smallest balance and move up from there, experts agree. Paying off the card with the highest interest rate may save you more money in the long run, but paying off one card completely can be the motivation you need to keep paying off the others. If you\'re concerned about interest accrual, make sure you know the interest rate for each of your cards and adjust your payment plan accordingly. If one card has a slightly higher balance than the smallest one but the highest interest rate, paying that one off first can offer the same motivational boost while still reducing the amount you pay in interest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-20\">Also, don\'t be afraid to ask your lenders about leniency, flexibility, or grace periods, Rapley says. Some may give you more time to pay off your debt before they begin charging interest or offer a lower interest rate. If some accounts are inflexible while others have some wiggle room, put those inflexible ones near the top of your list.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-21\">Once you have your priority list, work on eliminating that debt over time in a way that balances paying off debt with saving for emergencies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-22\">5. Free Up Money</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-23\">If you don\'t have the excess money to pay off your credit cards, free up money to reduce your debt wherever you can.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-24\">One method is to find additional streams of income, Rapley says. If you have a cluttered attic or closet, see if you can sell anything secondhand for a little extra money. Pick up a side hustle or brainstorm ways to profit off your hobbies, like selling your knitted scarves online.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-25\">If those aren\'t options, look into cheaper forms of debt (aka debt with lower interest rates). Home equity lines of credit, or HELOCs, can allow you to borrow money against your home to pay off your high-interest credit card debt, reducing the amount of interest you\'re paying (HELOCs tend to have much lower interest rates than cards) and giving you a little space to repay more of your balances each month, Kinane says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-26\">You can also look into refinancing your mortgage to free up more money, King says. You may be able to get a more favorable rate that would lower your monthly house payment and give you more cash to put toward other debt. The same is true for any student loans.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-27\">Otherwise, look everywhere you can to lower your expenses and free up money. King says to look closely at anything that comes with a fee, such as food delivery. If you order out often, going to pick it up yourself (instead of having it delivered) could save you a chunk of money every month. Also look into cooking at home more, checking for any unused subscriptions you\'re paying for, and using other standard money-saving ideas to put a little extra toward your debt.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-28\">The one place you don\'t want to turn to for extra money is your emergency fund. Using all or most of your emergency savings to pay off credit card debt can put you in what King calls a worst-case scenario: having some credit card debt and zero cash savings when an emergency strikes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-29\">Our experts agree that you want to maintain or build savings and pay down credit card debt at the same time, not pick one over the other. Kinane says it\'s a balance: If you can use some of your savings to decrease or eliminate debt while still leaving a comfortable cushion in the bank, do it. If doing so would deplete your savings, look for other ways to pay off your debt.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_2-0-30\">6. Look Ahead</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-31\">We\'re circling back to our first tip: Use this as a learning opportunity. \"If this isn\'t the first time you\'ve spent beyond your budget, this may mean you\'re not realistically spending and saving your money,\" Lucey says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-32\">If you don\'t have one already, put together some sort of financial plan that outlines your goals (home buying, retirement, whatever) and notes what steps (saving a certain amount each year or eliminating debt, for example) you need to take to get there. Planning is key, and keeping an eye on your larger goals can help guide you through smaller challenges, including overspending during the holidays. You want to get to a point where every financial decision you make is within the context of your larger goals, King says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-33\">A budget is important here. Learning how to budget now can help keep you on track in the future, and if you do overspend, having a budget makes it easier to figure out why and how you can avoid doing it again in the future. (It makes figuring out how much you overspent easier, too.)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-34\">Once you have a plan, set some new rules for spending, Rapley says. \"A lot of people don\'t have rules when it comes to spending,\" she says. Create your own by outlining the circumstances under which you can buy something nonessential, such as waiting until you have the money to pay it off immediately, going on 30-day shopping freezes on a certain item (such as clothing), or refusing to buy anything full-price. Rapley suggests asking yourself, \"Do I need this? Can I afford the maintenance? What will happen if I don\'t buy this item today?\" to avoid pricy impulse purchases.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-35\">While you\'re planning, start preparing for next year\'s holiday season now. (It will be here before you know it.) Create a holiday account where you can stash a few extra dollars each month, Rapley says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-36\">Start shopping earlier, too. \"If you went over budget this year, jump on it earlier next year,\" King says. Make a list early and watch for sales on great gifts all year long. Take advantage of free shipping offers and seasonal sales, such as Black Friday and Cyber Monday, to buy gifts from your list. Starting early can help you save money on last-minute purchases, express shipping, and other expenses that add to the overall cost of holiday gifting. It also spreads out the cost over a few months, instead of a few weeks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_2-0-37\">Look back at the true expense of this year\'s shopping, too. If interest rates and fees pushed your spending over the edge, think about ways you can avoid hidden costs for next year\'s shopping. Rapley says to pay attention to the fees that come with every payment method and recommends services like Affirm that break large purchases into manageable payments without surprise costs or fees; other options include paying only with cash or debit cards. However you choose to shop, knowing what additional costs come with each purchase will help you minimize the damage next year.</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/money-planning/post-holiday-spending-recovery-tips\">click here.</a></p>\n<!-- /wp:paragraph -->','Overspent Over the Holidays? Here\'s How to Bounce Back (Financially, at Least)','','inherit','closed','closed','','3683-revision-v1','','','2023-12-19 19:15:00','2023-12-19 19:15:00','',3683,'https://smartinsurance.tips/?p=3685',0,'revision','',0),(3686,1,'2023-12-19 19:33:52','2023-12-19 19:33:52','<!-- wp:paragraph -->\n<p>How to ring in the New Year with better financial health.</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\":3687,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/rsz_untitled_3.png\" alt=\"\" class=\"wp-image-3687\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">It is important for everyone to reset their personal finances and their goals for the New Year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">Did you make any resolutions concerning your personal finances last January? If so, how did you do? Did you attain your&nbsp;goals or miss the mark? While the days leading up to New Year\'s Eve are often spent reflecting on the year gone by, the following days&nbsp;should be spent reflecting on the New Year, reviewing your financial scorecard for the past year, and then looking for ways to improve.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-4\">The good news about New Year\'s resolutions is that you get a fresh crack at them each year. Here are some financial moves that you should resolve to make in the year to come.</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>New Year\'s resolutions are often broken, but try to keep your financial ones.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Give yourself a financial checkup to start the year.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Paying down debt, contributing to your retirement plan, and making a budget that you can keep can all help you ring in the New Year with better financial health.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-8\">Calculate Your Net Worth</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">If you haven\'t already done so, the start of the new year is an opportune time to determine how much you\'re worth financially. Calculating your net worth is a key step in assessing your financial health and reaching your financial goals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">The resolutions that you need to make will become more obvious after doing this calculation. Looking closely at all your assets and liabilities helps to create a clear picture of where you are prioritizing your current spending and saving and where you may need to make changes in those habits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Tip:</strong> It\'s a good idea to recalculate your net worth each year. Doing so can help you keep on top of your progress toward your financial goals and correct any mistakes that you\'re making before they create overwhelming debts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-15\">Reset Your Retirement Accounts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-16\">If you have the opportunity to save for retirement through a 401(k), 403(b), or 457 plan sponsored by your employer, consider budgeting a set amount each month for your account. And if you can afford to, consider contributing to an individual retirement account (IRA), as well.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-18\">Employer Plans</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-19\">If you have access to a 401(k), 403(b), or 457 plan at work, your goal should be to contribute as much as you can reasonably afford, up to the allowable maximums for the year. Note that if you\'ll be age 50 or older by next Dec. 31, you can make additional catch-up contributions on top of the regular limits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">Financial experts typically suggest contributing at least enough to your employer\'s plan to earn any matching contribution your employer may offer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">Are you self-employed? If so, depending on your income, you can contribute to a SEP IRA, profit-sharing plan, or independent 401(k) plan. And if you\'ll be age 50 or older by Dec. 31, then the contribution limit jumps for independent 401(k)s, helping you save even more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-25\">IRAs</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">Even if you\'re covered under a retirement plan at work, you and your spouse can each contribute to a traditional IRA or Roth IRA, as long as your combined taxable wages and net self-employment income are not less than the total amount contributed. Anyone age 50 or older can contribute an extra $1,000, increasing the total allowable contribution to $7,500, or $625 per month, in 2023. This is up from $7,000, or $583 per month, in 2022.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Keep in mind, however, that for the 2023 tax year, a modified adjusted gross income (MAGI) of $138,000 to $153,000 for single filers (up from $129,000 to $144,000 in 2022), or $218,000 to $228,000 for married couples filing jointly (up from $204,000 to $214,000 in 2022), puts you in the phase-out range for being able to contribute to a Roth IRA. There can also be limits on how much of your traditional IRA contributions you are allowed to deduct, based on your income and whether you are covered by a retirement plan at work.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Important:</strong> You should save only amounts that you can realistically afford, since contributing more than that may result in incurring debts to cover everyday expenses. To determine how much you can save each period, incorporate your retirement plan contributions into your regular budget.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-32\">Update Your Savings Goals</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-33\">Creating easy access to your funds can be tempting. You do run the risk that, if you are like many people, you will spend money that you can get to easily. To help you reach your goals, be sure to transfer amounts earmarked for savings from your checking account to a designated separate savings or investment account. Better yet, have a set amount from your paycheck auto-deposited into savings. That will make it more cumbersome to spend the money that you have managed to set aside.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-35\">Make a Plan to Pay Down Debts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">Take a few minutes now to set new savings goals for the New Year, including how much you would like to add to your retirement nest egg and/or&nbsp;your children\'s education fund&nbsp;or put toward the down payment on a new home. You should also reset how much you plan to pay on your personal loans, debts, and home mortgage accounts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">Consider paying some extra principal toward your mortgage payment each month. By doing so, you\'ll earn a risk-free return on that money equal to your mortgage interest rate and cut down on the number of years that it will take to pay off your mortgage. However, if you must choose between adding to your retirement accounts and paying extra on your mortgage, you might want to consult a financial advisor to determine which option is more suitable for you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-40\">Rebalance Your Portfolio</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-41\">The stock market always has its ups and downs. Some sectors overperform, and some sectors underperform. Chances are that the sectors that did the best last year may not enjoy a repeat performance this year—and, of course, 2022 was pretty grim for most of them. By rebalancing your portfolio to its original or updated asset allocation, you take steps to lock in gains from the sectors with the best returns and purchase shares in the sectors that have lagged behind last year\'s leaders.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-43\">Pay Down Your Credit Cards</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-44\">If you owe money on your credit cards, determine how much you can realistically afford to pay off during the year. For best results, try not to charge additional purchases on those cards while you\'re paying down what you owe. If you have high-interest credit card balances, consider whether it would be more beneficial to pay off those high-interest debts or add to your savings. Another option to consider is transferring your credit card balance to a new card with a lower interest rate or even a 0% promotional rate.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-46\">Review Your Credit Report</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-47\">Make sure that you check your credit report regularly, and take steps to repair any negative aspects. Now that you\'re entitled to three free credit reports each year, there is no excuse for not reviewing this important document, especially since errors are not uncommon. The official website for requesting your free credit reports is AnnualCreditReport.com.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Warning: </strong>A poor credit report could adversely affect the amount that you are able to save. The reason: It could result in you paying higher interest rates on loans, thus reducing your disposable income.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-51\">Review Life Insurance and Disability Insurance Needs&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-52\">As you move through your career, your life insurance and disability insurance needs will continue to change. Give some thought as to how much protection you need, and compare it to the coverage that you may already have through your employer\'s benefits package.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-54\">Consider whether you need more or less life insurance and whether your needs would be better satisfied by term or permanent life insurance. Also, review your disability insurance coverage to determine whether the amount you have is adequate.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Do You Maintain Financial Resolutions?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The key is to set realistic targets and remind yourself why you made the resolution when you\'re tempted to give it up. Transferring money from your checking account to a designated separate savings or investment account that\'s not easily accessible—or having part of your paycheck automatically deposited in a savings account—can also help to remove any temptation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Money Can I Put Aside Each Month?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>That depends on your individual circumstances. Once you work out how much you have coming in and review your spending habits and debts, it should become clearer how much you can reasonably set aside.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Some expenses, such as a mortgage and utilities, don\'t allow for much wiggle room, but there are likely to be ways to cut down on others and allocate that money elsewhere. Generally speaking, financial experts recommend saving at least 20% of your income each month.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Is the 50-20-30 Budget Rule?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The 50-20-30 budget rule is a simple guideline designed to help people reach their financial goals. Senator Elizabeth Warren (D-Mass.) popularized the 50-20-30 budget rule in her book <em>All Your Worth: The Ultimate Lifetime Money Plan.</em> According to this rule, 50% of your income should go toward essentials, 20% should be saved, and the remaining 30% allocated to discretionary, non-essential purchases, or \"wants.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-62\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-63\">Take this opportunity to restate your financial resolutions simply and clearly for the New Year. Be cautious about setting too many or unrealistic financial goals. Otherwise, you may be unable to accomplish any of them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-65\">It may be a good idea to maintain a checklist to keep track of how you are doing throughout the year so that you can make any necessary modifications. If you have a financial advisor, consider meeting with them to review the goals that you have set for yourself.</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/pf/06/newyear.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Financial New Year\'s Resolutions You Can Keep','','publish','closed','closed','','financial-new-years-resolutions-you-can-keep','','','2023-12-19 19:33:52','2023-12-19 19:33:52','',0,'https://smartinsurance.tips/?p=3686',0,'post','',0),(3687,1,'2023-12-19 19:17:39','2023-12-19 19:17:39','','rsz_untitled_3','','inherit','closed','closed','','rsz_untitled_3','','','2023-12-19 19:17:39','2023-12-19 19:17:39','',3686,'http://smartinsurance.tips/wp-content/uploads/2023/12/rsz_untitled_3.png',0,'attachment','image/png',0),(3688,1,'2023-12-19 19:33:52','2023-12-19 19:33:52','<!-- wp:paragraph -->\n<p>How to ring in the New Year with better financial health.</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\":3687,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/rsz_untitled_3.png\" alt=\"\" class=\"wp-image-3687\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">It is important for everyone to reset their personal finances and their goals for the New Year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">Did you make any resolutions concerning your personal finances last January? If so, how did you do? Did you attain your&nbsp;goals or miss the mark? While the days leading up to New Year\'s Eve are often spent reflecting on the year gone by, the following days&nbsp;should be spent reflecting on the New Year, reviewing your financial scorecard for the past year, and then looking for ways to improve.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-4\">The good news about New Year\'s resolutions is that you get a fresh crack at them each year. Here are some financial moves that you should resolve to make in the year to come.</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>New Year\'s resolutions are often broken, but try to keep your financial ones.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Give yourself a financial checkup to start the year.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Paying down debt, contributing to your retirement plan, and making a budget that you can keep can all help you ring in the New Year with better financial health.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-8\">Calculate Your Net Worth</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">If you haven\'t already done so, the start of the new year is an opportune time to determine how much you\'re worth financially. Calculating your net worth is a key step in assessing your financial health and reaching your financial goals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">The resolutions that you need to make will become more obvious after doing this calculation. Looking closely at all your assets and liabilities helps to create a clear picture of where you are prioritizing your current spending and saving and where you may need to make changes in those habits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Tip:</strong> It\'s a good idea to recalculate your net worth each year. Doing so can help you keep on top of your progress toward your financial goals and correct any mistakes that you\'re making before they create overwhelming debts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-15\">Reset Your Retirement Accounts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-16\">If you have the opportunity to save for retirement through a 401(k), 403(b), or 457 plan sponsored by your employer, consider budgeting a set amount each month for your account. And if you can afford to, consider contributing to an individual retirement account (IRA), as well.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-18\">Employer Plans</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-19\">If you have access to a 401(k), 403(b), or 457 plan at work, your goal should be to contribute as much as you can reasonably afford, up to the allowable maximums for the year. Note that if you\'ll be age 50 or older by next Dec. 31, you can make additional catch-up contributions on top of the regular limits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-21\">Financial experts typically suggest contributing at least enough to your employer\'s plan to earn any matching contribution your employer may offer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-23\">Are you self-employed? If so, depending on your income, you can contribute to a SEP IRA, profit-sharing plan, or independent 401(k) plan. And if you\'ll be age 50 or older by Dec. 31, then the contribution limit jumps for independent 401(k)s, helping you save even more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-25\">IRAs</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-26\">Even if you\'re covered under a retirement plan at work, you and your spouse can each contribute to a traditional IRA or Roth IRA, as long as your combined taxable wages and net self-employment income are not less than the total amount contributed. Anyone age 50 or older can contribute an extra $1,000, increasing the total allowable contribution to $7,500, or $625 per month, in 2023. This is up from $7,000, or $583 per month, in 2022.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Keep in mind, however, that for the 2023 tax year, a modified adjusted gross income (MAGI) of $138,000 to $153,000 for single filers (up from $129,000 to $144,000 in 2022), or $218,000 to $228,000 for married couples filing jointly (up from $204,000 to $214,000 in 2022), puts you in the phase-out range for being able to contribute to a Roth IRA. There can also be limits on how much of your traditional IRA contributions you are allowed to deduct, based on your income and whether you are covered by a retirement plan at work.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Important:</strong> You should save only amounts that you can realistically afford, since contributing more than that may result in incurring debts to cover everyday expenses. To determine how much you can save each period, incorporate your retirement plan contributions into your regular budget.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-32\">Update Your Savings Goals</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-33\">Creating easy access to your funds can be tempting. You do run the risk that, if you are like many people, you will spend money that you can get to easily. To help you reach your goals, be sure to transfer amounts earmarked for savings from your checking account to a designated separate savings or investment account. Better yet, have a set amount from your paycheck auto-deposited into savings. That will make it more cumbersome to spend the money that you have managed to set aside.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-35\">Make a Plan to Pay Down Debts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">Take a few minutes now to set new savings goals for the New Year, including how much you would like to add to your retirement nest egg and/or&nbsp;your children\'s education fund&nbsp;or put toward the down payment on a new home. You should also reset how much you plan to pay on your personal loans, debts, and home mortgage accounts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">Consider paying some extra principal toward your mortgage payment each month. By doing so, you\'ll earn a risk-free return on that money equal to your mortgage interest rate and cut down on the number of years that it will take to pay off your mortgage. However, if you must choose between adding to your retirement accounts and paying extra on your mortgage, you might want to consult a financial advisor to determine which option is more suitable for you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-40\">Rebalance Your Portfolio</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-41\">The stock market always has its ups and downs. Some sectors overperform, and some sectors underperform. Chances are that the sectors that did the best last year may not enjoy a repeat performance this year—and, of course, 2022 was pretty grim for most of them. By rebalancing your portfolio to its original or updated asset allocation, you take steps to lock in gains from the sectors with the best returns and purchase shares in the sectors that have lagged behind last year\'s leaders.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-43\">Pay Down Your Credit Cards</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-44\">If you owe money on your credit cards, determine how much you can realistically afford to pay off during the year. For best results, try not to charge additional purchases on those cards while you\'re paying down what you owe. If you have high-interest credit card balances, consider whether it would be more beneficial to pay off those high-interest debts or add to your savings. Another option to consider is transferring your credit card balance to a new card with a lower interest rate or even a 0% promotional rate.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-46\">Review Your Credit Report</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-47\">Make sure that you check your credit report regularly, and take steps to repair any negative aspects. Now that you\'re entitled to three free credit reports each year, there is no excuse for not reviewing this important document, especially since errors are not uncommon. The official website for requesting your free credit reports is AnnualCreditReport.com.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Warning: </strong>A poor credit report could adversely affect the amount that you are able to save. The reason: It could result in you paying higher interest rates on loans, thus reducing your disposable income.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-51\">Review Life Insurance and Disability Insurance Needs&nbsp;</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-52\">As you move through your career, your life insurance and disability insurance needs will continue to change. Give some thought as to how much protection you need, and compare it to the coverage that you may already have through your employer\'s benefits package.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-54\">Consider whether you need more or less life insurance and whether your needs would be better satisfied by term or permanent life insurance. Also, review your disability insurance coverage to determine whether the amount you have is adequate.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Do You Maintain Financial Resolutions?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The key is to set realistic targets and remind yourself why you made the resolution when you\'re tempted to give it up. Transferring money from your checking account to a designated separate savings or investment account that\'s not easily accessible—or having part of your paycheck automatically deposited in a savings account—can also help to remove any temptation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Money Can I Put Aside Each Month?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>That depends on your individual circumstances. Once you work out how much you have coming in and review your spending habits and debts, it should become clearer how much you can reasonably set aside.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Some expenses, such as a mortgage and utilities, don\'t allow for much wiggle room, but there are likely to be ways to cut down on others and allocate that money elsewhere. Generally speaking, financial experts recommend saving at least 20% of your income each month.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Is the 50-20-30 Budget Rule?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The 50-20-30 budget rule is a simple guideline designed to help people reach their financial goals. Senator Elizabeth Warren (D-Mass.) popularized the 50-20-30 budget rule in her book <em>All Your Worth: The Ultimate Lifetime Money Plan.</em> According to this rule, 50% of your income should go toward essentials, 20% should be saved, and the remaining 30% allocated to discretionary, non-essential purchases, or \"wants.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-62\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-63\">Take this opportunity to restate your financial resolutions simply and clearly for the New Year. Be cautious about setting too many or unrealistic financial goals. Otherwise, you may be unable to accomplish any of them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-65\">It may be a good idea to maintain a checklist to keep track of how you are doing throughout the year so that you can make any necessary modifications. If you have a financial advisor, consider meeting with them to review the goals that you have set for yourself.</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/pf/06/newyear.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Financial New Year\'s Resolutions You Can Keep','','inherit','closed','closed','','3686-revision-v1','','','2023-12-19 19:33:52','2023-12-19 19:33:52','',3686,'https://smartinsurance.tips/?p=3688',0,'revision','',0),(3689,1,'2023-12-19 19:36:01','2023-12-19 19:36:01','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3690,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-4-1024x1024.png\" alt=\"\" class=\"wp-image-3690\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>In a landscape where small and medium businesses (SMBs) represent the target of 43% of all data breaches and suffered losses exceeding $2.8 billion in 2020 alone, the need for cybersecurity readiness is starkly evident. While large firms maintain dedicated cybersecurity departments, budget constraints can hinder small businesses from doing the same. Thus, small businesses should empower themselves to handle cybersecurity whenever possible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Though we always recommend partnering with a managed service provider (MSP) to help augment internal resources, here are a few tips that you can use to help bolster your defense against cyberattacks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">1. Educate Employees</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Human error and system failure account for 52% of data security breaches. The best precaution you can take is to establish basic security practices amongst your employees. Enforce policies for strong password creation, responsible internet usage, and proper handling of customer data. Regular training including simulations may help keep your employees sharp while identifying those that may need more education.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">2. Keep Company Devices Updated</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most cybersecurity breaches happen when laptops, multifunction copiers and printers and other devices and software aren’t properly maintained. Mitigate these risks by keeping devices updated with the latest web browser, operating system, and anti-virus software versions. These steps significantly reduce the threat of malware and online risks, especially if professional cybersecurity services aren\'t an option.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">3. Secure Wi-Fi Networks</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Another efficient way to keep your data secure from online threats is by making sure that you have a secure Wi-Fi network. This means more than just setting up a password - you must make sure that the connection is secure, encrypted, and hidden.&nbsp; Hiding your Wi-Fi network will require you to set up your wireless access point (router) so it does not broadcast a network name (SSID). You should also password protect access to the router.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">4. Limit Employee Access Authority</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As mentioned earlier, sometimes an organization’s cybersecurity plan is only as strong as its employee policies and procedures. Employees don’t need access to all data systems, only the ones they need to fulfill their duties. Your employees should also need permission to install any software onto their devices to avoid the downloading of malicious software.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">5. Set Up a Firewall</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Firewalls act as barriers against external access to private networks. Install or enable the operating system\'s firewall on your business systems, and ensure remote employees also activate their system\'s firewall.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Safeguarding data demands proactive engagement, resourcefulness, and resilience. Because of the breadth of resources available to them, managed service providers and cybersecurity firms are ultimately the best way to ensure the security of your company and clients. However, small businesses may need alternative methods. These 5 steps can jumpstart data protection if you\'re going solo, but remember, ongoing efforts are crucial for maintaining security.</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://business.sharpusa.com/simply-smarter-blog/5-diy-cybersecurity-steps-for-small-businesses\">click here.</a></p>\n<!-- /wp:paragraph -->','5 DIY Cybersecurity Steps for Small Businesses','','publish','closed','closed','','5-diy-cybersecurity-steps-for-small-businesses','','','2023-12-19 19:36:01','2023-12-19 19:36:01','',0,'https://smartinsurance.tips/?p=3689',0,'post','',0),(3690,1,'2023-12-19 19:34:52','2023-12-19 19:34:52','','Untitled-4','','inherit','closed','closed','','untitled-4','','','2023-12-19 19:34:52','2023-12-19 19:34:52','',3689,'http://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-4.png',0,'attachment','image/png',0),(3691,1,'2023-12-19 19:36:01','2023-12-19 19:36:01','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3690,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-4-1024x1024.png\" alt=\"\" class=\"wp-image-3690\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>In a landscape where small and medium businesses (SMBs) represent the target of 43% of all data breaches and suffered losses exceeding $2.8 billion in 2020 alone, the need for cybersecurity readiness is starkly evident. While large firms maintain dedicated cybersecurity departments, budget constraints can hinder small businesses from doing the same. Thus, small businesses should empower themselves to handle cybersecurity whenever possible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Though we always recommend partnering with a managed service provider (MSP) to help augment internal resources, here are a few tips that you can use to help bolster your defense against cyberattacks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">1. Educate Employees</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Human error and system failure account for 52% of data security breaches. The best precaution you can take is to establish basic security practices amongst your employees. Enforce policies for strong password creation, responsible internet usage, and proper handling of customer data. Regular training including simulations may help keep your employees sharp while identifying those that may need more education.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">2. Keep Company Devices Updated</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most cybersecurity breaches happen when laptops, multifunction copiers and printers and other devices and software aren’t properly maintained. Mitigate these risks by keeping devices updated with the latest web browser, operating system, and anti-virus software versions. These steps significantly reduce the threat of malware and online risks, especially if professional cybersecurity services aren\'t an option.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">3. Secure Wi-Fi Networks</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Another efficient way to keep your data secure from online threats is by making sure that you have a secure Wi-Fi network. This means more than just setting up a password - you must make sure that the connection is secure, encrypted, and hidden.&nbsp; Hiding your Wi-Fi network will require you to set up your wireless access point (router) so it does not broadcast a network name (SSID). You should also password protect access to the router.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">4. Limit Employee Access Authority</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As mentioned earlier, sometimes an organization’s cybersecurity plan is only as strong as its employee policies and procedures. Employees don’t need access to all data systems, only the ones they need to fulfill their duties. Your employees should also need permission to install any software onto their devices to avoid the downloading of malicious software.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">5. Set Up a Firewall</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Firewalls act as barriers against external access to private networks. Install or enable the operating system\'s firewall on your business systems, and ensure remote employees also activate their system\'s firewall.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Safeguarding data demands proactive engagement, resourcefulness, and resilience. Because of the breadth of resources available to them, managed service providers and cybersecurity firms are ultimately the best way to ensure the security of your company and clients. However, small businesses may need alternative methods. These 5 steps can jumpstart data protection if you\'re going solo, but remember, ongoing efforts are crucial for maintaining security.</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://business.sharpusa.com/simply-smarter-blog/5-diy-cybersecurity-steps-for-small-businesses\">click here.</a></p>\n<!-- /wp:paragraph -->','5 DIY Cybersecurity Steps for Small Businesses','','inherit','closed','closed','','3689-revision-v1','','','2023-12-19 19:36:01','2023-12-19 19:36:01','',3689,'https://smartinsurance.tips/?p=3691',0,'revision','',0),(3692,1,'2023-12-19 19:38:42','2023-12-19 19:38:42','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3693,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-5-1024x1024.png\" alt=\"\" class=\"wp-image-3693\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>In a world where productive, focused work is how you get ahead, the \"afternoon slump\" is a dreaded enemy. This is how many people refer to low energy levels commonly experienced in the early afternoon on a workday.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The common logic is to try and combat that feeling of tiredness so you can get back to work.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We\'re told that constant high energy is the only way to be productive. But that\'s not how the human body operates. Working with the afternoon slump rather than against it is an underrated strategy to improve your work performance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We’ll review the reasons behind that energy dip, how to not only make it less acute, and what you can do when you need a quick boost of energy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>The Afternoon Slump Is a Natural Body Response</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While prolonged feelings of exhaustion can signal a medical condition, the afternoon slump is often about something else. Depending on how acute it is, it may either be a part of your body’s natural rhythm, or it may indicate that some aspect of your lifestyle isn\'t as balanced as it could be.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>First off, natural rhythm dictates that you\'re bound to have more energy during certain parts of the day. In the morning, you\'re likely to feel energized and alert. Science shows that most people feel at their best in the morning hours, and that often means more energy to tackle challenging tasks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In the scientific world, this phenomenon is due to your circadian rhythms. The Sleep Foundation defines them as \"24-hour cycles that are part of the body’s internal clock, running in the background to carry out essential functions and processes.\" Most people\'s circadian rhythms mean that they\'re likely to crave sleep from 2-4 a.m. and 1-3 p.m. That second time interval is when the afternoon slump occurs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Besides this natural energy dip, there are many factors in our modern lifestyle that contribute to even more tiredness:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Sleep debt (i.e., lack of sleep over prolonged period of time)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Not enough physical activity</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>High stress levels and anxiety</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Diet full of simple carbs (e.g., processed sugars) that leads to rapid drops in blood sugar</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Dehydration.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Combined with the body\'s circadian rhythms, these factors may contribute to acute energy slumps that prevent you from getting the most out of your day. So, what can you do?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>Energy Slumps Can Prompt You to Improve Work Habits</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To some extent, the afternoon tiredness can be helpful. It\'s a myth that you should feel equally energized throughout the whole day. True productivity is about taking full advantage of your energy highs but also making sure you give yourself a break when you need to.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Low energy may often signal that your body needs something. It can be as simple as a power nap or a healthy snack. The afternoon slump may be a good reminder to do those things and then come back to your workday recharged.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It\'s no secret that our mental health suffers when we neglect our physical and emotional needs. Without sufficient breaks, it\'s easy to overwork yourself and reach burnout. That’s why engaging in a calming, restful activity during your afternoon slump may be a great productivity strategy in the long run. It forces you to take breaks, which prevents crossing the critical threshold of exhaustion.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Lastly, you can think of the post-lunch energy low as motivation to plan your workday better. When you come to terms with the afternoon slump, it may encourage you to prioritize important tasks early in the day. That means less time wasting in the morning and a more relaxed pace in the afternoon.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>How to Keep Your Energy Levels Balanced Throughout the Day</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Lower energy in the afternoon is, to some extent, normal. Your circadian rhythm dictates that your body usually needs downtime in the middle of the day. However, it\'s worth taking a look at your lifestyle to check if your energy levels are dropping lower than they need to.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\"><strong>Examine Your Diet</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>First off, examine your diet. It should include a fair amount of complex carbohydrates and protein, as these are the macronutrients that help you maintain steady blood sugar levels. Eating whole grains, for example, is proven to stabilize your blood sugar. This means smaller spikes but also not so dramatic lows in your energy levels.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\"><strong>Drink Enough Water</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Drinking enough water matters as much as a healthy diet. One U.K. study found that dehydration is the cause of tiredness in one out of 10 cases. This might mean that 10% of the population could make things better just by drinking more water!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\"><strong>Increase Physical Activity</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The next area to look at is your habits around physical activity. It may be that your lack of energy is connected to not moving enough. Now, we understand that after a long day of work you may not be up for an hour-long CrossFit session or training for a marathon. However, studies show that even low-intensity exercises — such as a quick walk or gentle yoga — can reduce fatigue by as much as 65%.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With low-key exercise, your heart rate increases, which helps your blood flow and oxygenation. At the same time, it doesn\'t put additional stress on your nervous system. That’s definitely not what you want when you already feel stressed and overworked!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\"><strong>Look at Your Sleep Patterns</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Last but not least, make sure you get enough sleep<strong>.&nbsp;</strong>Many people don’t notice how missing an hour or two of sleep here and there impacts their energy levels. They think they can make up for the lost sleep with coffee, sugar, or other stimulants. Or, they simply brush off their tiredness as “having a bad day.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If that sounds like you, try getting those recommended eight hours of sleep consistently for a couple of weeks. You may find out that it makes all the difference!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>An “Emergency Kit” for When You Need an Extra Energy Boost</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Of course, it would be ideal if you could always maintain a balanced lifestyle and avoid dramatic energy swings. But real life doesn\'t always work like that. Deadlines, work emergencies, and rapid life changes happen. That\'s when it\'s easiest to fall out of balance, neglecting sleep, diet, and exercise.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>These are often periods when the afternoon energy slump becomes worse. Ideally, this is also when you take a break. It may mean calling in for a mental health day off or just taking an extra half-hour after lunchtime, so that you can relax.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>However long your break, make sure what you do in that time is a pleasant, low-key activity. Read a book, go on a walk, meditate, take a nap — whatever does the trick for you! Also, remember that the key to a restful break is detaching from work mentally.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>That said, we understand that there are situations when taking a break doesn’t seem like an option. You just need to power through that afternoon slump to meet a deadline or deal with an emergency. In those times, it\'s useful to have an \"emergency kit\" — a list of ideas that can give you a quick energy boost.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Remember, these aren’t substitutes for a healthy, balanced lifestyle. Rather, they can help you power through the tough period so you can then take a deserved rest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><!-- wp:list-item -->\n<li><strong>Drink a cup of coffee:</strong> The caffeine in coffee promotes alertness by blocking adenosine (the “sleepiness substance”) receptors in the body. On top of that, it acts very fast, reaching a peak level in your blood even 30-60 minutes after consumption. This makes coffee one of the most popular and potent remedies for tiredness. But remember not to overdo it.<br>&#x200d;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Take a power walk or do a few squats to increase blood flow:</strong>&nbsp;With exercise, you\'ll feel the energy boost instantly. The trick is to not overdo it, as this can make you even more tired than you are. Ideally, aim for a five-minute workout that will raise your heart rate and bring more oxygen into your body. You should feel refreshed and energized.<br>&#x200d;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Open the window:</strong> Speaking of oxygen, even some extra fresh air in the room may do the trick. If you\'re so busy you can\'t even go out for a short walk, let some air into your workspace. This can not only help you feel more energized but also improve cognitive abilities.<br>&#x200d;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Chew gum:</strong> This may sound funny at first, but research shows that<strong> </strong>chewing gum can impact how alert you feel<strong>.</strong> The longer you\'ve been involved in a task, the better the effect chewing gum will have on your attention. This means it may do the trick to help you stay focused during particularly daunting, complex work.<br>&#x200d;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Rely on teamwork:</strong>&nbsp;If nothing else works and you need to work during your afternoon slump, ask a friend or co-worker to collaborate. Teamwork means your brain must find a way to stay engaged and alert because there\'s another person prompting interaction. Get creative! Plus, doing the work together may mean you finish in less time.</li>\n<!-- /wp:list-item --></ol>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>Track Your Performance to Understand Your Energy Patterns</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As with most things, understanding where you\'re at helps you decide what you need to change. This also applies to managing your energy throughout the workday. When you know when your energy slumps occur and how they impact your performance, you\'re better equipped to do something about it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>One way you can get insight into that is by tracking how you spend your time. At Rize, we decided everyone should be able to discover how powerful this can be. Our customizable time tracker allows you to notice when your productivity tends to dip — and also, when deep work borders on effortless.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Having that sort of information means you\'re way ahead of the pack. It empowers you to work around afternoon slumps or even use them to your advantage.</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://rize.io/blog/afternoon-slump\">click here.</a></p>\n<!-- /wp:paragraph -->','Why You Have an Afternoon Slump and How to Deal With It','','publish','closed','closed','','why-you-have-an-afternoon-slump-and-how-to-deal-with-it','','','2023-12-19 19:38:42','2023-12-19 19:38:42','',0,'https://smartinsurance.tips/?p=3692',0,'post','',0),(3693,1,'2023-12-19 19:36:59','2023-12-19 19:36:59','','Untitled-5','','inherit','closed','closed','','untitled-5','','','2023-12-19 19:36:59','2023-12-19 19:36:59','',3692,'http://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-5.png',0,'attachment','image/png',0),(3694,1,'2023-12-19 19:38:42','2023-12-19 19:38:42','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3693,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-5-1024x1024.png\" alt=\"\" class=\"wp-image-3693\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>In a world where productive, focused work is how you get ahead, the \"afternoon slump\" is a dreaded enemy. This is how many people refer to low energy levels commonly experienced in the early afternoon on a workday.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The common logic is to try and combat that feeling of tiredness so you can get back to work.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We\'re told that constant high energy is the only way to be productive. But that\'s not how the human body operates. Working with the afternoon slump rather than against it is an underrated strategy to improve your work performance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We’ll review the reasons behind that energy dip, how to not only make it less acute, and what you can do when you need a quick boost of energy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>The Afternoon Slump Is a Natural Body Response</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>While prolonged feelings of exhaustion can signal a medical condition, the afternoon slump is often about something else. Depending on how acute it is, it may either be a part of your body’s natural rhythm, or it may indicate that some aspect of your lifestyle isn\'t as balanced as it could be.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>First off, natural rhythm dictates that you\'re bound to have more energy during certain parts of the day. In the morning, you\'re likely to feel energized and alert. Science shows that most people feel at their best in the morning hours, and that often means more energy to tackle challenging tasks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In the scientific world, this phenomenon is due to your circadian rhythms. The Sleep Foundation defines them as \"24-hour cycles that are part of the body’s internal clock, running in the background to carry out essential functions and processes.\" Most people\'s circadian rhythms mean that they\'re likely to crave sleep from 2-4 a.m. and 1-3 p.m. That second time interval is when the afternoon slump occurs.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Besides this natural energy dip, there are many factors in our modern lifestyle that contribute to even more tiredness:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Sleep debt (i.e., lack of sleep over prolonged period of time)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Not enough physical activity</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>High stress levels and anxiety</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Diet full of simple carbs (e.g., processed sugars) that leads to rapid drops in blood sugar</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Dehydration.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>Combined with the body\'s circadian rhythms, these factors may contribute to acute energy slumps that prevent you from getting the most out of your day. So, what can you do?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>Energy Slumps Can Prompt You to Improve Work Habits</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>To some extent, the afternoon tiredness can be helpful. It\'s a myth that you should feel equally energized throughout the whole day. True productivity is about taking full advantage of your energy highs but also making sure you give yourself a break when you need to.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Low energy may often signal that your body needs something. It can be as simple as a power nap or a healthy snack. The afternoon slump may be a good reminder to do those things and then come back to your workday recharged.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It\'s no secret that our mental health suffers when we neglect our physical and emotional needs. Without sufficient breaks, it\'s easy to overwork yourself and reach burnout. That’s why engaging in a calming, restful activity during your afternoon slump may be a great productivity strategy in the long run. It forces you to take breaks, which prevents crossing the critical threshold of exhaustion.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Lastly, you can think of the post-lunch energy low as motivation to plan your workday better. When you come to terms with the afternoon slump, it may encourage you to prioritize important tasks early in the day. That means less time wasting in the morning and a more relaxed pace in the afternoon.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>How to Keep Your Energy Levels Balanced Throughout the Day</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Lower energy in the afternoon is, to some extent, normal. Your circadian rhythm dictates that your body usually needs downtime in the middle of the day. However, it\'s worth taking a look at your lifestyle to check if your energy levels are dropping lower than they need to.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\"><strong>Examine Your Diet</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>First off, examine your diet. It should include a fair amount of complex carbohydrates and protein, as these are the macronutrients that help you maintain steady blood sugar levels. Eating whole grains, for example, is proven to stabilize your blood sugar. This means smaller spikes but also not so dramatic lows in your energy levels.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\"><strong>Drink Enough Water</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Drinking enough water matters as much as a healthy diet. One U.K. study found that dehydration is the cause of tiredness in one out of 10 cases. This might mean that 10% of the population could make things better just by drinking more water!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\"><strong>Increase Physical Activity</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The next area to look at is your habits around physical activity. It may be that your lack of energy is connected to not moving enough. Now, we understand that after a long day of work you may not be up for an hour-long CrossFit session or training for a marathon. However, studies show that even low-intensity exercises — such as a quick walk or gentle yoga — can reduce fatigue by as much as 65%.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With low-key exercise, your heart rate increases, which helps your blood flow and oxygenation. At the same time, it doesn\'t put additional stress on your nervous system. That’s definitely not what you want when you already feel stressed and overworked!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\"><strong>Look at Your Sleep Patterns</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Last but not least, make sure you get enough sleep<strong>.&nbsp;</strong>Many people don’t notice how missing an hour or two of sleep here and there impacts their energy levels. They think they can make up for the lost sleep with coffee, sugar, or other stimulants. Or, they simply brush off their tiredness as “having a bad day.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If that sounds like you, try getting those recommended eight hours of sleep consistently for a couple of weeks. You may find out that it makes all the difference!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>An “Emergency Kit” for When You Need an Extra Energy Boost</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Of course, it would be ideal if you could always maintain a balanced lifestyle and avoid dramatic energy swings. But real life doesn\'t always work like that. Deadlines, work emergencies, and rapid life changes happen. That\'s when it\'s easiest to fall out of balance, neglecting sleep, diet, and exercise.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>These are often periods when the afternoon energy slump becomes worse. Ideally, this is also when you take a break. It may mean calling in for a mental health day off or just taking an extra half-hour after lunchtime, so that you can relax.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>However long your break, make sure what you do in that time is a pleasant, low-key activity. Read a book, go on a walk, meditate, take a nap — whatever does the trick for you! Also, remember that the key to a restful break is detaching from work mentally.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>That said, we understand that there are situations when taking a break doesn’t seem like an option. You just need to power through that afternoon slump to meet a deadline or deal with an emergency. In those times, it\'s useful to have an \"emergency kit\" — a list of ideas that can give you a quick energy boost.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Remember, these aren’t substitutes for a healthy, balanced lifestyle. Rather, they can help you power through the tough period so you can then take a deserved rest.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol><!-- wp:list-item -->\n<li><strong>Drink a cup of coffee:</strong> The caffeine in coffee promotes alertness by blocking adenosine (the “sleepiness substance”) receptors in the body. On top of that, it acts very fast, reaching a peak level in your blood even 30-60 minutes after consumption. This makes coffee one of the most popular and potent remedies for tiredness. But remember not to overdo it.<br>&#x200d;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Take a power walk or do a few squats to increase blood flow:</strong>&nbsp;With exercise, you\'ll feel the energy boost instantly. The trick is to not overdo it, as this can make you even more tired than you are. Ideally, aim for a five-minute workout that will raise your heart rate and bring more oxygen into your body. You should feel refreshed and energized.<br>&#x200d;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Open the window:</strong> Speaking of oxygen, even some extra fresh air in the room may do the trick. If you\'re so busy you can\'t even go out for a short walk, let some air into your workspace. This can not only help you feel more energized but also improve cognitive abilities.<br>&#x200d;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Chew gum:</strong> This may sound funny at first, but research shows that<strong> </strong>chewing gum can impact how alert you feel<strong>.</strong> The longer you\'ve been involved in a task, the better the effect chewing gum will have on your attention. This means it may do the trick to help you stay focused during particularly daunting, complex work.<br>&#x200d;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Rely on teamwork:</strong>&nbsp;If nothing else works and you need to work during your afternoon slump, ask a friend or co-worker to collaborate. Teamwork means your brain must find a way to stay engaged and alert because there\'s another person prompting interaction. Get creative! Plus, doing the work together may mean you finish in less time.</li>\n<!-- /wp:list-item --></ol>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\"><strong>Track Your Performance to Understand Your Energy Patterns</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As with most things, understanding where you\'re at helps you decide what you need to change. This also applies to managing your energy throughout the workday. When you know when your energy slumps occur and how they impact your performance, you\'re better equipped to do something about it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>One way you can get insight into that is by tracking how you spend your time. At Rize, we decided everyone should be able to discover how powerful this can be. Our customizable time tracker allows you to notice when your productivity tends to dip — and also, when deep work borders on effortless.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Having that sort of information means you\'re way ahead of the pack. It empowers you to work around afternoon slumps or even use them to your advantage.</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://rize.io/blog/afternoon-slump\">click here.</a></p>\n<!-- /wp:paragraph -->','Why You Have an Afternoon Slump and How to Deal With It','','inherit','closed','closed','','3692-revision-v1','','','2023-12-19 19:38:42','2023-12-19 19:38:42','',3692,'https://smartinsurance.tips/?p=3694',0,'revision','',0),(3695,1,'2023-12-19 20:16:10','2023-12-19 20:16:10','<!-- wp:paragraph -->\n<p>How to choose the right tax-advantaged retirement account for you.</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\":3696,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/rsz_1untitled_6.png\" alt=\"\" class=\"wp-image-3696\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">You can use a number of strategies to help you save for retirement, including tax-advantaged retirement accounts like traditional or Roth 401(k)s and IRAs, or other investment accounts. The best retirement plan to build your nest egg will depend on your financial situation, your goals for retirement, and other factors.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">Let\'s look in more detail at the various ways to save for retirement, how each savings plan works, and about their disadvantages and advantages.</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>Tax-advantaged savings accounts like traditional or Roth IRA and 401(k)s are among the best retirement plans to build your nest egg.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Roth and traditional retirement accounts have different tax advantages.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Traditional 401(k)s and IRAs allow for pre-tax contributions, reducing your annual income tax for that year.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Contributions to Roth 401(k)s and IRAs are made with after-tax funds, but you can withdraw them in retirement tax-free.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>The best retirement account to build your nest egg will depend on your specific situation and financial goals.</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\">401(k)s vs. IRAs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-7\">The main difference between 401(k)s and IRAs is that 401(k) plans are offered through an employer and they have larger contribution limits. An employer offering a 401(k) plan may also offer matching contributions up to a certain amount.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">IRAs, on the other hand, are held by an individual and typically offer more investment choices, but the contribution limit is lower. They may also include income limits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">Among 401(k)s and IRAs, you can choose between traditional or Roth accounts. The main difference between them is their tax advantages. With a traditional tax-advantaged retirement account, your contributions are made with after-tax dollars, so your tax bill for that year is lower. Then, you pay taxes on withdrawals during retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">With Roth accounts, tax advantages come in your retirement years. You can make tax-free withdrawals from a Roth account during retirement, and that includes any gains your investments have made. Roth IRAs have income limits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-15\">Let\'s look in more detail at the limits and tax advantages of different retirement plans to build a nest egg, so you can determine which may be right for you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-17\">401(k)s</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">401(k) plans are tax-advantaged accounts to save for retirement and are defined contribution plans offered by employers. Employees contribute through automatic payroll withholding and the employer can add money to provide matching contributions. For example, your employer might contribute up to 5% of your salary if you put in that amount.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: <em>Contributions to a traditional 401(k) are made with pre-tax income, effectively lowering your tax bill for the year. But you will pay income taxes when you make withdrawals in retirement. Depending on your financial situation, you may be in a lower income tax bracket when you retire.</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">A Roth 401(k) is similar to a traditional 401(k) in that it is provided by an employer. However, contributions to a Roth account are made with after-tax funds. You get your tax advantage in your retirement years when you can withdraw the funds, including any gains on investments, tax-free.3</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-24\">You must start taking distributions from your 401(k) when you turn 73 unless you are still working. You can delay taking the minimum required distributions until the year you retire.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-26\">401(k) Contribution Limits</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-27\">For 2023, you can contribute up to $22,500 to your 401(k), or $30,000 if you\'re age 50 or older with a $7,500 catch-up contribution. For 2024, the contribution increases to $23,000 but the catch-up contribution stays at $7,500. After Dec. 31, 2024, the catch-up contribution limits for 401(k) plan participants aged 60 to 63 increase to the greater of $10,000 or 150% of the standard catch-up amount for that year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Employers can contribute up to $66,000 in 2023, or $73,500 if the employee is age 50 or older. For 2024, that increases to $69,000 or $76,500, respectively.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: <em>The IRS adjusts contribution limits for tax-advantaged retirement accounts annually for inflation.</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-33\">IRAs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-34\">Individual retirement accounts, or IRAs, are held by you, not your employer. But you must have earned income in wages or salaries to contribute.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">With traditional IRAs, you can deduct your contributions from your taxable income, however, you will have to pay taxes on withdrawals when you reach your retirement years. You must take the required minimum distributions (RMDs) from a traditional IRA starting at age 73 in 2023. The age will increase to 75 in 2033.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With Roth IRAs, contributions are made with after-tax dollars, so your tax benefit is not immediate. However, you can make withdrawals tax-free in your retirement years, or after age 59½. Roth IRAs do not require RMDs during the owner\'s lifetime.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">However, you must meet certain criteria before you can make tax-free withdrawals from a Roth IRA. You must have held the account for at least five years, and you must meet one of the following criteria:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-40\"><!-- wp:list-item -->\n<li>You have reached the age of 59½.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You have a disability.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You are using the distribution to buy a first home.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-42\">IRA Contribution and Deduction Limits</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-43\">For 2023, you can contribute up to $6,500, plus an additional $1,000 for those 50 or older. For 2024, the figure increases to $7,000 while the catch-up contribution stays at $1,000. Unlike with 401(k)s, your income will play a role in how much you can contribute to a Roth IRA and the amount of deduction you can take for a traditional IRA.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Important:</strong> Beginning in 2024, the SECURE 2.0 Act of 2022 allows you to access up to $1,000 annually from retirement savings for emergency expenses. It permits survivors of domestic abuse to withdraw the lesser of $10,000 or 50% of their retirement account and lets victims of a qualified federally declared natural disaster withdraw up to $22,000 from their retirement account without penalty.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-55\">Other Retirement Accounts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-56\">Other tax-advantaged retirement accounts can apply to different situations such as SIMPLE 401 (k) plans, 403(b) plans, SIMPLE IRA plans, and SEP plans. Once you have maxed out contributions to a tax-advantaged account, you may want to turn to a traditional investing account to help your nest egg grow.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-58\">By investing in assets like stocks and bonds, you have the potential to earn significantly more profits than you would if you simply held cash. However, you should plan to pay taxes on gains earned on your investments. You may also incur trading fees that can affect your profits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-60\">Consider consulting with a professional advisor who can help you choose investments that match your financial goals and risk tolerance level.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Tip: </strong>Order your copy of the print edition of Investopedia\'s Retirement Guide for more assistance in building the best plan for your retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-64\">How a 401(k) With Company Match Works</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-65\">To illustrate how a 401(k) with company match works, consider an example where you work for Company A, which offers a 401(k) plan. You plan to contribute $2,000 each year toward your retirement and you are deciding whether it makes better financial sense to contribute to the 401(k) or to an IRA.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-67\">If Company A provides a matching contribution, a 401(k) will be the better choice. Below is a look at the growth of the accounts over 10 years, assuming an employer match of $1 for each $1 you contribute, up to $1,500. In 10 years, your 401(k) would grow significantly faster than an IRA.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-70\">What to Consider When Choosing a Retirement Plan</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-71\">Matching contribution plans are typically the best retirement plans to build your nest egg. But if your employer isn\'t making matching contributions to the 401(k) plan it offers, consider several factors before deciding which retirement account to use:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-73\"><strong>Investment choices</strong>: Large corporations typically limit investment choices to mutual funds, bonds, and money market instruments, similar to the investment options available in a self-directed IRA. Smaller companies may do the same, but they are typically more likely to allow self-direction of investments.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Fees:</strong> Fees that are charged to 401(k) accounts are not as visible as the fees that are charged to an IRA, leading many participants to believe that 401(k) fees are minimal to nonexistent.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Accessibility</strong>: Assets in a 401(k) plan cannot be withdrawn unless the participant experiences a triggering event. However, if a company\'s plan has a loan feature, you may be able to take a loan from your account and repay it. IRA assets can technically be withdrawn at any time. However, if you\'re under the age of 59½, your distribution will be considered taxable income, and it may be subject to a 10% penalty.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-79\"><strong>Management costs</strong>: You may need the services of a professional investment advisor to make sure asset allocations align with your retirement goals and objectives. If your employer provides those services as part of its employee benefits package, you won\'t incur an additional cost, however, this perk may not be available for an IRA unless an employer extends such services to assets outside of its employer-sponsored plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-81\"><strong>Tax deductions</strong>: Contributions to a 401(k) reduce taxable income as do contributions to a traditional IRA. Those employed by a company with a retirement plan are subject to income limits on how much of the contribution is deductible. Contributions to a Roth IRA are not tax deductible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Important: </strong>Beginning in 2025, the SECURE 2.0 Act of 2022 requires employers to automatically enroll eligible employees in new 401(k) plans with a participation amount of at least 3% but no more than 10%. The contribution escalates at the rate of 1% per year up to a minimum of 10% and a maximum of 15%.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-85\">Contributing to Both a 401(k) and an IRA</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-86\">You can contribute to both a 401(k) and an IRA. For example, you could contribute up to the maximum employer matching amount for a 401(k) and then contribute to an IRA.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-88\">You could also contribute to both a Roth IRA and a traditional IRA, but your total contributions to the two accounts combined cannot exceed the IRS maximum amount.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-90\">Setting Up a Backdoor Roth IRA</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-91\">High-income earners can’t contribute directly to a Roth IRA, but they can indirectly contribute to a backdoor Roth IRA. A traditional IRA doesn’t limit or prevent individuals with higher incomes from contributing. Here\'s how to set up a backdoor Roth IRA:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol id=\"mntl-sc-block_1-0-93\"><!-- wp:list-item -->\n<li><strong>Contribute to a traditional IRA</strong>: There are no income limits for making this contribution and it may already be after-tax money if your income exceeds the limits.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Immediately convert your traditional IRA to a Roth IRA</strong>: Ideally, do this before your traditional IRA contribution has generated any earnings that will have to be taxed when you do your conversion.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Follow the tax rules</strong>: If you took a deduction on your pre-tax contributions from your traditional IRA, you owe taxes when you convert them to a Roth IRA, which is funded with after-tax income.</li>\n<!-- /wp:list-item --></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-95\">If you cannot deduct your traditional IRA contribution in step 1, you won’t owe further taxes except on any earnings if your conversion happened after your contribution generated income. If you have other money in traditional IRAs, there is a pro-rata rule for taxes on a Roth IRA conversion.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-97\">If your employer permits traditional 401(k)s to be rolled over to either your company’s Roth 401(k) plan or to an outside IRA, you may be in a position to move a considerable amount of money into a Roth account where it can grow tax-free and provide tax-free distributions at retirement. This strategy requires sophisticated advice about what you might owe in taxes when you convert.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-99\">Time Horizon and Beneficiaries</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-100\">Your time horizon and age are factors when determining proper asset allocation. If you are at least 50, participating in a plan that includes a catch-up contribution feature can be an attractive choice, especially if you are behind in accumulating a retirement nest egg.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-102\">Though retirement accounts are usually intended to finance your retirement years, some people plan to leave these accounts to their beneficiaries. You will need to evaluate your tax-free or taxable assets and whether you want to avoid RMDs that will lower the balance in your accounts. For Roth IRAs, the RMD rules do not apply to the IRA owner, which allows for a larger balance to be left to beneficiaries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-104\">How Inflation Can Impact Your Nest Egg</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-105\">As you develop your retirement plan to build your nest egg, keep in mind the impact of inflation, or the increase in the cost of goods and services. Inflation can erode the value of your nest egg, but there are ways to prepare for it. For example, you can take inflation into account as you plan a budget and establish your income goals for retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: Treasury Inflation-Protected Securities (TIPS), high-yield bonds, and shorter-duration bonds are among the types of assets that can be resistant to inflation. Consult with a professional financial advisor to find the right asset allocation for your personal situation and goals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-109\">You can also ensure your portfolio is well diversified. If the growth of your investments does not match the rate of inflation, you will essentially lose money. So, if your portfolio grows by an average of 4% per year, but inflation averages 5% per year, the value of your investments would actually decline in terms of how it can support you in retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-111\">The federal government uses inflation as a benchmark when deciding whether to raise Social Security benefits or whether to increase contribution limits to tax-advantaged retirement plans.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Are the Best Options for Retirement Planning?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Individual retirement plans include traditional IRAs, Roth IRAs, and spousal IRAs. Anyone who earns income can open these on their own. The best employer-sponsored retirement plans include 401(k)s, 403(b)s, and 457(b)s.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Can I Contribute to My 401(k)?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The annual contribution limit to a 401(k) for 2023 is $22,500 in 2023. If you are 50 and over, you can contribute an additional $7,500. The contribution limits increased for 2024 to $23,000 with the same catch-up contribution.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Is a Good Amount of Money for Retirement?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The appropriate amount of money considered \"good\" for retirement is based on your current lifestyle, desired lifestyle in retirement, obligations, and health. Some financial advisors recommend that your annual retirement income equal 80% of your last job\'s annual income.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-119\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-120\">The best retirement plan to build your nest egg will depend on a number of factors, but generally plans that offer an employer match will provide the most growth. After you\'ve contributed up to an employer match, choosing the best options for your retirement funds can be challenging. Weigh the factors like fees and taxation and consider consulting a professional retirement planning advisor for more guidance on your specific financial situation.</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/08/best-plan.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','The Best Retirement Plans to Build Your Nest Egg','','publish','closed','closed','','the-best-retirement-plans-to-build-your-nest-egg','','','2023-12-19 20:16:10','2023-12-19 20:16:10','',0,'https://smartinsurance.tips/?p=3695',0,'post','',0),(3696,1,'2023-12-19 19:41:10','2023-12-19 19:41:10','','rsz_1untitled_6','','inherit','closed','closed','','rsz_1untitled_6','','','2023-12-19 19:41:10','2023-12-19 19:41:10','',3695,'http://smartinsurance.tips/wp-content/uploads/2023/12/rsz_1untitled_6.png',0,'attachment','image/png',0),(3697,1,'2023-12-19 20:16:10','2023-12-19 20:16:10','<!-- wp:paragraph -->\n<p>How to choose the right tax-advantaged retirement account for you.</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\":3696,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/rsz_1untitled_6.png\" alt=\"\" class=\"wp-image-3696\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0\">You can use a number of strategies to help you save for retirement, including tax-advantaged retirement accounts like traditional or Roth 401(k)s and IRAs, or other investment accounts. The best retirement plan to build your nest egg will depend on your financial situation, your goals for retirement, and other factors.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-2\">Let\'s look in more detail at the various ways to save for retirement, how each savings plan works, and about their disadvantages and advantages.</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>Tax-advantaged savings accounts like traditional or Roth IRA and 401(k)s are among the best retirement plans to build your nest egg.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Roth and traditional retirement accounts have different tax advantages.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Traditional 401(k)s and IRAs allow for pre-tax contributions, reducing your annual income tax for that year.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Contributions to Roth 401(k)s and IRAs are made with after-tax funds, but you can withdraw them in retirement tax-free.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>The best retirement account to build your nest egg will depend on your specific situation and financial goals.</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\">401(k)s vs. IRAs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-7\">The main difference between 401(k)s and IRAs is that 401(k) plans are offered through an employer and they have larger contribution limits. An employer offering a 401(k) plan may also offer matching contributions up to a certain amount.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-9\">IRAs, on the other hand, are held by an individual and typically offer more investment choices, but the contribution limit is lower. They may also include income limits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-11\">Among 401(k)s and IRAs, you can choose between traditional or Roth accounts. The main difference between them is their tax advantages. With a traditional tax-advantaged retirement account, your contributions are made with after-tax dollars, so your tax bill for that year is lower. Then, you pay taxes on withdrawals during retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-13\">With Roth accounts, tax advantages come in your retirement years. You can make tax-free withdrawals from a Roth account during retirement, and that includes any gains your investments have made. Roth IRAs have income limits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-15\">Let\'s look in more detail at the limits and tax advantages of different retirement plans to build a nest egg, so you can determine which may be right for you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-17\">401(k)s</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-18\">401(k) plans are tax-advantaged accounts to save for retirement and are defined contribution plans offered by employers. Employees contribute through automatic payroll withholding and the employer can add money to provide matching contributions. For example, your employer might contribute up to 5% of your salary if you put in that amount.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: <em>Contributions to a traditional 401(k) are made with pre-tax income, effectively lowering your tax bill for the year. But you will pay income taxes when you make withdrawals in retirement. Depending on your financial situation, you may be in a lower income tax bracket when you retire.</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-22\">A Roth 401(k) is similar to a traditional 401(k) in that it is provided by an employer. However, contributions to a Roth account are made with after-tax funds. You get your tax advantage in your retirement years when you can withdraw the funds, including any gains on investments, tax-free.3</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-24\">You must start taking distributions from your 401(k) when you turn 73 unless you are still working. You can delay taking the minimum required distributions until the year you retire.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-26\">401(k) Contribution Limits</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-27\">For 2023, you can contribute up to $22,500 to your 401(k), or $30,000 if you\'re age 50 or older with a $7,500 catch-up contribution. For 2024, the contribution increases to $23,000 but the catch-up contribution stays at $7,500. After Dec. 31, 2024, the catch-up contribution limits for 401(k) plan participants aged 60 to 63 increase to the greater of $10,000 or 150% of the standard catch-up amount for that year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Employers can contribute up to $66,000 in 2023, or $73,500 if the employee is age 50 or older. For 2024, that increases to $69,000 or $76,500, respectively.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Note: <em>The IRS adjusts contribution limits for tax-advantaged retirement accounts annually for inflation.</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-33\">IRAs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-34\">Individual retirement accounts, or IRAs, are held by you, not your employer. But you must have earned income in wages or salaries to contribute.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-36\">With traditional IRAs, you can deduct your contributions from your taxable income, however, you will have to pay taxes on withdrawals when you reach your retirement years. You must take the required minimum distributions (RMDs) from a traditional IRA starting at age 73 in 2023. The age will increase to 75 in 2033.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>With Roth IRAs, contributions are made with after-tax dollars, so your tax benefit is not immediate. However, you can make withdrawals tax-free in your retirement years, or after age 59½. Roth IRAs do not require RMDs during the owner\'s lifetime.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-38\">However, you must meet certain criteria before you can make tax-free withdrawals from a Roth IRA. You must have held the account for at least five years, and you must meet one of the following criteria:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul id=\"mntl-sc-block_1-0-40\"><!-- wp:list-item -->\n<li>You have reached the age of 59½.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You have a disability.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>You are using the distribution to buy a first home.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-42\">IRA Contribution and Deduction Limits</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-43\">For 2023, you can contribute up to $6,500, plus an additional $1,000 for those 50 or older. For 2024, the figure increases to $7,000 while the catch-up contribution stays at $1,000. Unlike with 401(k)s, your income will play a role in how much you can contribute to a Roth IRA and the amount of deduction you can take for a traditional IRA.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Important:</strong> Beginning in 2024, the SECURE 2.0 Act of 2022 allows you to access up to $1,000 annually from retirement savings for emergency expenses. It permits survivors of domestic abuse to withdraw the lesser of $10,000 or 50% of their retirement account and lets victims of a qualified federally declared natural disaster withdraw up to $22,000 from their retirement account without penalty.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-55\">Other Retirement Accounts</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-56\">Other tax-advantaged retirement accounts can apply to different situations such as SIMPLE 401 (k) plans, 403(b) plans, SIMPLE IRA plans, and SEP plans. Once you have maxed out contributions to a tax-advantaged account, you may want to turn to a traditional investing account to help your nest egg grow.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-58\">By investing in assets like stocks and bonds, you have the potential to earn significantly more profits than you would if you simply held cash. However, you should plan to pay taxes on gains earned on your investments. You may also incur trading fees that can affect your profits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-60\">Consider consulting with a professional advisor who can help you choose investments that match your financial goals and risk tolerance level.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Tip: </strong>Order your copy of the print edition of Investopedia\'s Retirement Guide for more assistance in building the best plan for your retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-64\">How a 401(k) With Company Match Works</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-65\">To illustrate how a 401(k) with company match works, consider an example where you work for Company A, which offers a 401(k) plan. You plan to contribute $2,000 each year toward your retirement and you are deciding whether it makes better financial sense to contribute to the 401(k) or to an IRA.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-67\">If Company A provides a matching contribution, a 401(k) will be the better choice. Below is a look at the growth of the accounts over 10 years, assuming an employer match of $1 for each $1 you contribute, up to $1,500. In 10 years, your 401(k) would grow significantly faster than an IRA.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-70\">What to Consider When Choosing a Retirement Plan</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-71\">Matching contribution plans are typically the best retirement plans to build your nest egg. But if your employer isn\'t making matching contributions to the 401(k) plan it offers, consider several factors before deciding which retirement account to use:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-73\"><strong>Investment choices</strong>: Large corporations typically limit investment choices to mutual funds, bonds, and money market instruments, similar to the investment options available in a self-directed IRA. Smaller companies may do the same, but they are typically more likely to allow self-direction of investments.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Fees:</strong> Fees that are charged to 401(k) accounts are not as visible as the fees that are charged to an IRA, leading many participants to believe that 401(k) fees are minimal to nonexistent.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Accessibility</strong>: Assets in a 401(k) plan cannot be withdrawn unless the participant experiences a triggering event. However, if a company\'s plan has a loan feature, you may be able to take a loan from your account and repay it. IRA assets can technically be withdrawn at any time. However, if you\'re under the age of 59½, your distribution will be considered taxable income, and it may be subject to a 10% penalty.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-79\"><strong>Management costs</strong>: You may need the services of a professional investment advisor to make sure asset allocations align with your retirement goals and objectives. If your employer provides those services as part of its employee benefits package, you won\'t incur an additional cost, however, this perk may not be available for an IRA unless an employer extends such services to assets outside of its employer-sponsored plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-81\"><strong>Tax deductions</strong>: Contributions to a 401(k) reduce taxable income as do contributions to a traditional IRA. Those employed by a company with a retirement plan are subject to income limits on how much of the contribution is deductible. Contributions to a Roth IRA are not tax deductible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Important: </strong>Beginning in 2025, the SECURE 2.0 Act of 2022 requires employers to automatically enroll eligible employees in new 401(k) plans with a participation amount of at least 3% but no more than 10%. The contribution escalates at the rate of 1% per year up to a minimum of 10% and a maximum of 15%.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-85\">Contributing to Both a 401(k) and an IRA</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-86\">You can contribute to both a 401(k) and an IRA. For example, you could contribute up to the maximum employer matching amount for a 401(k) and then contribute to an IRA.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-88\">You could also contribute to both a Roth IRA and a traditional IRA, but your total contributions to the two accounts combined cannot exceed the IRS maximum amount.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-90\">Setting Up a Backdoor Roth IRA</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-91\">High-income earners can’t contribute directly to a Roth IRA, but they can indirectly contribute to a backdoor Roth IRA. A traditional IRA doesn’t limit or prevent individuals with higher incomes from contributing. Here\'s how to set up a backdoor Roth IRA:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true} -->\n<ol id=\"mntl-sc-block_1-0-93\"><!-- wp:list-item -->\n<li><strong>Contribute to a traditional IRA</strong>: There are no income limits for making this contribution and it may already be after-tax money if your income exceeds the limits.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Immediately convert your traditional IRA to a Roth IRA</strong>: Ideally, do this before your traditional IRA contribution has generated any earnings that will have to be taxed when you do your conversion.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Follow the tax rules</strong>: If you took a deduction on your pre-tax contributions from your traditional IRA, you owe taxes when you convert them to a Roth IRA, which is funded with after-tax income.</li>\n<!-- /wp:list-item --></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-95\">If you cannot deduct your traditional IRA contribution in step 1, you won’t owe further taxes except on any earnings if your conversion happened after your contribution generated income. If you have other money in traditional IRAs, there is a pro-rata rule for taxes on a Roth IRA conversion.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-97\">If your employer permits traditional 401(k)s to be rolled over to either your company’s Roth 401(k) plan or to an outside IRA, you may be in a position to move a considerable amount of money into a Roth account where it can grow tax-free and provide tax-free distributions at retirement. This strategy requires sophisticated advice about what you might owe in taxes when you convert.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-99\">Time Horizon and Beneficiaries</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-100\">Your time horizon and age are factors when determining proper asset allocation. If you are at least 50, participating in a plan that includes a catch-up contribution feature can be an attractive choice, especially if you are behind in accumulating a retirement nest egg.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-102\">Though retirement accounts are usually intended to finance your retirement years, some people plan to leave these accounts to their beneficiaries. You will need to evaluate your tax-free or taxable assets and whether you want to avoid RMDs that will lower the balance in your accounts. For Roth IRAs, the RMD rules do not apply to the IRA owner, which allows for a larger balance to be left to beneficiaries.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-104\">How Inflation Can Impact Your Nest Egg</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-105\">As you develop your retirement plan to build your nest egg, keep in mind the impact of inflation, or the increase in the cost of goods and services. Inflation can erode the value of your nest egg, but there are ways to prepare for it. For example, you can take inflation into account as you plan a budget and establish your income goals for retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Important: Treasury Inflation-Protected Securities (TIPS), high-yield bonds, and shorter-duration bonds are among the types of assets that can be resistant to inflation. Consult with a professional financial advisor to find the right asset allocation for your personal situation and goals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-109\">You can also ensure your portfolio is well diversified. If the growth of your investments does not match the rate of inflation, you will essentially lose money. So, if your portfolio grows by an average of 4% per year, but inflation averages 5% per year, the value of your investments would actually decline in terms of how it can support you in retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-111\">The federal government uses inflation as a benchmark when deciding whether to raise Social Security benefits or whether to increase contribution limits to tax-advantaged retirement plans.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Are the Best Options for Retirement Planning?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Individual retirement plans include traditional IRAs, Roth IRAs, and spousal IRAs. Anyone who earns income can open these on their own. The best employer-sponsored retirement plans include 401(k)s, 403(b)s, and 457(b)s.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Can I Contribute to My 401(k)?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The annual contribution limit to a 401(k) for 2023 is $22,500 in 2023. If you are 50 and over, you can contribute an additional $7,500. The contribution limits increased for 2024 to $23,000 with the same catch-up contribution.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What Is a Good Amount of Money for Retirement?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The appropriate amount of money considered \"good\" for retirement is based on your current lifestyle, desired lifestyle in retirement, obligations, and health. Some financial advisors recommend that your annual retirement income equal 80% of your last job\'s annual income.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\" id=\"mntl-sc-block_1-0-119\">The Bottom Line</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p id=\"mntl-sc-block_1-0-120\">The best retirement plan to build your nest egg will depend on a number of factors, but generally plans that offer an employer match will provide the most growth. After you\'ve contributed up to an employer match, choosing the best options for your retirement funds can be challenging. Weigh the factors like fees and taxation and consider consulting a professional retirement planning advisor for more guidance on your specific financial situation.</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/08/best-plan.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','The Best Retirement Plans to Build Your Nest Egg','','inherit','closed','closed','','3695-revision-v1','','','2023-12-19 20:16:10','2023-12-19 20:16:10','',3695,'https://smartinsurance.tips/?p=3697',0,'revision','',0),(3698,1,'2023-12-19 20:30:00','2023-12-19 20:30:00','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3699,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/rsz_untitled_9.png\" alt=\"\" class=\"wp-image-3699\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>We’re staring down the holidays and with it, the all too dreaded post-holiday clean up… It seems like we all spend so much time looking forward to the holidays and planning the big events, family get-togethers, and various meals – but before we know it the fallout is here and we have to deal with the aftermath.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Well, that’s what we’re here to help with.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We reached out to our team of professional house cleaners for all their best tips and tricks for managing the post-holiday clean-up as efficiently as possible so you can spend more time enjoying the holidays.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Step 1. Declutter</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s inevitable. Clutter gets out of hand and takes over your home during the holiday season. However, in all fairness, a bit of a mess is expected. You’re having people over for family dinner, cooking and eating more than normal, buying presents for loved ones, sending over holiday cards, getting toys for the little ones, and it goes on.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Still, you don’t want this clutter situation to go on for too long and into the following year. That is why the first step in your post-holiday clean-up<strong>&nbsp;</strong>should be decluttering your house.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">A. Sort through Gifts</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>No one likes to admit it, but we always receive presents that we don’t like or know we will never put to use.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Instead of accumulating objects around the house, go through your gifts and see which ones you want (or need) to keep. If it’s a piece of clothing you don’t fancy, set a date to go to the store and return or exchange it. If it’s a random item, you can donate it or re-gift it to someone who might enjoy it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Of course, you don’t want to hurt anyone’s feelings while doing this, so considering the sentimental value should always be present when sorting out your gifts.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">B. Save Wrapping Materials</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Studies have found that 25% of extra waste is created during the holiday season, most of which is from wrapping paper and shopping bags.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While it’s easier to toss everything in the trash, you’ll see that wrapping paper can be used more than once if it isn’t torn or too wrinkly. Go through the wrapping paper, bags, bows, and more, to see if you can save them for a future occasion.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you really do need to toss it, at least make sure it goes in the recycle pile!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">C. Recycle What You Can</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most of the holiday waste can be recycled. Glass and plastic bottles, aluminum beverage cans, torn wrapping paper, and plastic bags, all can be recycled. In most cities, there are local trash and recycling services. Contact them, ask how you should separate the waste, and take it to the recycling center if you don’t have a pick-up service.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">D. Collect Holiday Cards</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Last but not least, collect all the holiday cards you’ve received and store them properly. Ideally, you want to have a box where to store them. It can be a wooden box or even a shoe box. Just be sure to keep them all in one place and avoid having them scattered throughout different drawers in your home. You can also put special ones on the fridge or your bulletin board in your home office.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Step 2. Schedule Decor Take-Down</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The second step of your post-holiday clean-up is scheduling the decor removal. We all love decorating our house and can’t wait to start dressing the tree, hanging Christmas stockings, and putting on Christmas lights. However, the take-down doesn’t get the same enthusiasm from us. When to take decor down depends mainly on religion and traditions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In case you can’t take decor down on the date that your traditions or religion stipulate, schedule it at a time that’s convenient for you, but don’t postpone it for too long (unless you’re Summit Maid’s founder, Jacob, who is known for leaving his decorations up FAR too long…).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Step 3. Properly Store Holiday Decorations</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Once you’ve taken all the decorations down, you’ll be tempted to throw them all in a box and forget about it until next year. However, you’ll regret this decision when you find yourself untangling Christmas lights next year (or is that part of the tradition? It’s hard to tell…).&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Instead, you want to be mindful when storing decorations. So get some boxes and sort holiday decorations properly. This way you’ll see which ones are up for another use and also prevent them from breaking.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Step 4. Clean the Kitchen and Pantry</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The holidays equal cooking and eating lots (of great!) food, which is why your kitchen becomes the center of the action during the festive season. Once the holidays are over, you’ll have to give your kitchen a much-needed deep clean. Below you’ll find all the areas and items you need to focus on during your holiday home cleaning session. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">A. Clear out the Fridge</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You’ve baked pies; one friend brought dips, the other a delicious casserole; your mother made your favorite dessert… That’s how your fridge ends up overflowing with leftovers by the end of the holiday season. First, take everything out of your fridge and sort it out. Then, reassess the leftovers; freeze the food you can and throw away the one that has gone stale.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>When you’re done with the fridge, go over to your pantry and see if there are any ingredients you didn’t use and can be donated. Canned vegetables, dried pasta, kid snacks, and canned sauces are always welcomed at shelters. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">B. Clean Large &amp; Small Appliances</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Kitchen appliances are also used more than usual during the holiday season. Take your time and inspect each appliance to see which one needs a thorough post-holiday clean-up – these are some of the most forgotten places to be cleaned in your home. Then, grab a microfiber cloth, dampen it in a water and vinegar solution, and wipe the appliances down. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">C. Wipe Down Your Countertops</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Now that all the food is stored and appliances have had a solid post-holiday clean-up, you can grab a damp cloth, put a pea-sized amount of dish soap on the countertops, and wipe them down. Given countertops are high-touch surfaces, it’s a good idea to disinfect them. Grab the same cloth and go over them, but this time with a mix of bleach and water to eliminate bacteria.&nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Step 5.&nbsp;<strong>Dust, Vacuum &amp; Mop the Floors</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You’ll finish your post-holiday clean-up by cleaning the floors. Start by removing dust, dirt, and crumbs from the floor. The easiest way to do this is with a vacuum.&nbsp; If you don’t have one, you can always return to the classic sweeping. Remember to find a broom that suits your floor type and always keep continuous contact with the surface. After you’ve removed all the dirt, you can mop your floor.&nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Step 6.&nbsp;<strong>Prepare For The Rest Of Winter</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When the holiday season comes in, you need to get your house in shape&nbsp;<em>before</em>&nbsp;<em>and after&nbsp;</em>the celebrations. It’s exhausting, we know. However, it may be a great opportunity to go the extra mile, deep clean your house, and prepare it for the rest of the winter – you already have to clean after your guests leave the house, anyway.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Also, winter is a season that poses certain challenges; especially if you live in a very cold, snowy area, you want to ensure you prevent weather damage and related repairs. That’s why we have a guide filled with winter cleaning tips to help you out!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Too Much? Hire a Cleaning Service</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As much as we love the holiday season, it’s undeniable that it can leave us feeling quite exhausted. If cleaning your house is a bit too much, consider hiring a cleaning service. Cleaning companies will tackle every little nook, leaving your home ready to start this new year fresh. </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://summitmaids.com/post-holiday-clean-up-guide/\">click here.</a></p>\n<!-- /wp:paragraph -->','Post-Holiday Clean Up Guide From a Professional Cleaner','','publish','closed','closed','','post-holiday-clean-up-guide-from-a-professional-cleaner','','','2023-12-19 20:30:00','2023-12-19 20:30:00','',0,'https://smartinsurance.tips/?p=3698',0,'post','',0),(3699,1,'2023-12-19 20:19:23','2023-12-19 20:19:23','','rsz_untitled_9','','inherit','closed','closed','','rsz_untitled_9','','','2023-12-19 20:19:23','2023-12-19 20:19:23','',3698,'http://smartinsurance.tips/wp-content/uploads/2023/12/rsz_untitled_9.png',0,'attachment','image/png',0),(3700,1,'2023-12-19 20:30:00','2023-12-19 20:30:00','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3699,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/rsz_untitled_9.png\" alt=\"\" class=\"wp-image-3699\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>We’re staring down the holidays and with it, the all too dreaded post-holiday clean up… It seems like we all spend so much time looking forward to the holidays and planning the big events, family get-togethers, and various meals – but before we know it the fallout is here and we have to deal with the aftermath.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Well, that’s what we’re here to help with.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We reached out to our team of professional house cleaners for all their best tips and tricks for managing the post-holiday clean-up as efficiently as possible so you can spend more time enjoying the holidays.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Step 1. Declutter</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It’s inevitable. Clutter gets out of hand and takes over your home during the holiday season. However, in all fairness, a bit of a mess is expected. You’re having people over for family dinner, cooking and eating more than normal, buying presents for loved ones, sending over holiday cards, getting toys for the little ones, and it goes on.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Still, you don’t want this clutter situation to go on for too long and into the following year. That is why the first step in your post-holiday clean-up<strong>&nbsp;</strong>should be decluttering your house.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">A. Sort through Gifts</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>No one likes to admit it, but we always receive presents that we don’t like or know we will never put to use.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Instead of accumulating objects around the house, go through your gifts and see which ones you want (or need) to keep. If it’s a piece of clothing you don’t fancy, set a date to go to the store and return or exchange it. If it’s a random item, you can donate it or re-gift it to someone who might enjoy it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Of course, you don’t want to hurt anyone’s feelings while doing this, so considering the sentimental value should always be present when sorting out your gifts.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">B. Save Wrapping Materials</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Studies have found that 25% of extra waste is created during the holiday season, most of which is from wrapping paper and shopping bags.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>While it’s easier to toss everything in the trash, you’ll see that wrapping paper can be used more than once if it isn’t torn or too wrinkly. Go through the wrapping paper, bags, bows, and more, to see if you can save them for a future occasion.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you really do need to toss it, at least make sure it goes in the recycle pile!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">C. Recycle What You Can</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most of the holiday waste can be recycled. Glass and plastic bottles, aluminum beverage cans, torn wrapping paper, and plastic bags, all can be recycled. In most cities, there are local trash and recycling services. Contact them, ask how you should separate the waste, and take it to the recycling center if you don’t have a pick-up service.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">D. Collect Holiday Cards</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Last but not least, collect all the holiday cards you’ve received and store them properly. Ideally, you want to have a box where to store them. It can be a wooden box or even a shoe box. Just be sure to keep them all in one place and avoid having them scattered throughout different drawers in your home. You can also put special ones on the fridge or your bulletin board in your home office.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Step 2. Schedule Decor Take-Down</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The second step of your post-holiday clean-up is scheduling the decor removal. We all love decorating our house and can’t wait to start dressing the tree, hanging Christmas stockings, and putting on Christmas lights. However, the take-down doesn’t get the same enthusiasm from us. When to take decor down depends mainly on religion and traditions.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In case you can’t take decor down on the date that your traditions or religion stipulate, schedule it at a time that’s convenient for you, but don’t postpone it for too long (unless you’re Summit Maid’s founder, Jacob, who is known for leaving his decorations up FAR too long…).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Step 3. Properly Store Holiday Decorations</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Once you’ve taken all the decorations down, you’ll be tempted to throw them all in a box and forget about it until next year. However, you’ll regret this decision when you find yourself untangling Christmas lights next year (or is that part of the tradition? It’s hard to tell…).&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Instead, you want to be mindful when storing decorations. So get some boxes and sort holiday decorations properly. This way you’ll see which ones are up for another use and also prevent them from breaking.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Step 4. Clean the Kitchen and Pantry</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The holidays equal cooking and eating lots (of great!) food, which is why your kitchen becomes the center of the action during the festive season. Once the holidays are over, you’ll have to give your kitchen a much-needed deep clean. Below you’ll find all the areas and items you need to focus on during your holiday home cleaning session. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">A. Clear out the Fridge</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You’ve baked pies; one friend brought dips, the other a delicious casserole; your mother made your favorite dessert… That’s how your fridge ends up overflowing with leftovers by the end of the holiday season. First, take everything out of your fridge and sort it out. Then, reassess the leftovers; freeze the food you can and throw away the one that has gone stale.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>When you’re done with the fridge, go over to your pantry and see if there are any ingredients you didn’t use and can be donated. Canned vegetables, dried pasta, kid snacks, and canned sauces are always welcomed at shelters. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">B. Clean Large &amp; Small Appliances</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Kitchen appliances are also used more than usual during the holiday season. Take your time and inspect each appliance to see which one needs a thorough post-holiday clean-up – these are some of the most forgotten places to be cleaned in your home. Then, grab a microfiber cloth, dampen it in a water and vinegar solution, and wipe the appliances down. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">C. Wipe Down Your Countertops</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Now that all the food is stored and appliances have had a solid post-holiday clean-up, you can grab a damp cloth, put a pea-sized amount of dish soap on the countertops, and wipe them down. Given countertops are high-touch surfaces, it’s a good idea to disinfect them. Grab the same cloth and go over them, but this time with a mix of bleach and water to eliminate bacteria.&nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Step 5.&nbsp;<strong>Dust, Vacuum &amp; Mop the Floors</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You’ll finish your post-holiday clean-up by cleaning the floors. Start by removing dust, dirt, and crumbs from the floor. The easiest way to do this is with a vacuum.&nbsp; If you don’t have one, you can always return to the classic sweeping. Remember to find a broom that suits your floor type and always keep continuous contact with the surface. After you’ve removed all the dirt, you can mop your floor.&nbsp;&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Step 6.&nbsp;<strong>Prepare For The Rest Of Winter</strong></h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When the holiday season comes in, you need to get your house in shape&nbsp;<em>before</em>&nbsp;<em>and after&nbsp;</em>the celebrations. It’s exhausting, we know. However, it may be a great opportunity to go the extra mile, deep clean your house, and prepare it for the rest of the winter – you already have to clean after your guests leave the house, anyway.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Also, winter is a season that poses certain challenges; especially if you live in a very cold, snowy area, you want to ensure you prevent weather damage and related repairs. That’s why we have a guide filled with winter cleaning tips to help you out!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Too Much? Hire a Cleaning Service</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As much as we love the holiday season, it’s undeniable that it can leave us feeling quite exhausted. If cleaning your house is a bit too much, consider hiring a cleaning service. Cleaning companies will tackle every little nook, leaving your home ready to start this new year fresh. </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://summitmaids.com/post-holiday-clean-up-guide/\">click here.</a></p>\n<!-- /wp:paragraph -->','Post-Holiday Clean Up Guide From a Professional Cleaner','','inherit','closed','closed','','3698-revision-v1','','','2023-12-19 20:30:00','2023-12-19 20:30:00','',3698,'https://smartinsurance.tips/?p=3700',0,'revision','',0),(3701,1,'2023-12-19 23:14:33','2023-12-19 23:14:33','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3702,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-10-1024x1024.png\" alt=\"\" class=\"wp-image-3702\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Preparing for unforeseen circumstances in the unpredictable to protect your business world is not just prudent; it’s a necessity. Your business is susceptible to many risks, ranging from natural disasters like earthquakes or floods that can devastate your physical infrastructure to economic downturns that can threaten your financial stability. Moreover, cyberattacks have become an ever-present menace lurking in the digital shadows. These threats, combined with the ever-evolving legal and regulatory landscape, make it paramount to fortify your business against the unexpected.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Risk Assessment</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You must begin with a thorough risk assessment to safeguard your business effectively. This process involves identifying potential risks, both external and internal, that could jeopardize your operations. The spectrum of risks is broad, encompassing the capriciousness of Mother Nature, economic fluctuations that can disrupt markets and consumer spending, and the insidious nature of cyber threats that can compromise your data integrity. Prioritizing these risks based on their potential impact and likelihood of occurrence is crucial. It allows you to allocate resources and develop mitigation strategies that cater to the most pressing threats.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Historical Data and Industry Trends</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>One of the most reliable guides for navigating the future is history itself. Historical data and industry trends can serve as your compass through uncharted waters. By examining past incidents and analyzing industry patterns, you can gain valuable insights into what might lie on the horizon. For instance, studying how your industry weathered previous economic downturns can inform your financial preparedness strategy. Moreover, historical data can help you identify recurring issues within your own business, enabling you to address vulnerabilities before they escalate into crises.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Insurance Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Insurance is your business’s safety net, ready to catch you when unforeseen circumstances threaten to knock you off your feet. There are various types of business insurance, each designed to shield you from specific risks. Commercial property insurance coverage, for instance, safeguards your physical assets, while liability insurance protects you from legal claims and financial liabilities. Business interruption insurance can be a lifesaver when your operations are disrupted, ensuring you don’t suffer catastrophic losses. Regularly reviewing and updating your insurance policies is essential. Your insurance needs may change as your business evolves, and failing to adapt your coverage can expose you to unexpected risks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Business Continuity Planning</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Business continuity planning is your business’s superhero cape in the face of adversity. It’s more than just a contingency plan; it’s your playbook for survival. A well-crafted business continuity plan outlines how your business will operate during and after a crisis, ensuring critical functions can continue even when chaos reigns. Effective communication is the linchpin of business continuity. It involves clear lines of communication within your team, with your customers, and with your suppliers. Without it, even the most well-prepared plan can falter in a crisis.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Financial Preparedness</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Financial preparedness is akin to the sturdy foundation upon which your business is built. One of the cornerstones of financial readiness is having emergency funds at your disposal. These funds act as a financial cushion, protecting you from the immediate impact of unexpected expenses or revenue dips. Additionally, having access to lines of credit or business loans can provide vital financial support when your cash flow is strained. Diversifying your revenue streams is another pillar of financial resilience. Relying solely on one source of income can be precarious; by diversifying, you reduce your vulnerability to economic downturns or shifts in consumer preferences.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Cybersecurity Measures</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In our increasingly digital age, safeguarding your digital fortress is as critical as protecting your physical assets. Your business’s data is its lifeblood, and proper data protection is non-negotiable. Implementing robust data encryption protocols and regular backups ensures your vital information remains secure. However, cybersecurity isn’t solely a technical matter; your employees are your first line of defense. Educating your team about phishing awareness and sound password management practices is essential. Moreover, establishing and enforcing IT security policies ensures that your digital defenses remain resilient in the face of cyber threats.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Supply Chain Risk Management</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Your supply chain is the circulatory system of your business, carrying the essential components that keep your operations healthy. However, it’s vulnerable to disruptions, whether from supplier issues, transportation delays, or unforeseen natural disasters. Supplier diversification is a strategic approach that minimizes your risk exposure. By spreading your supply sources across multiple vendors, you’re likely to be able to handle the failure of a single supplier. Moreover, having a contingency plan for supply chain disruptions can mean the difference between maintaining your operations and grinding to a halt. It’s about having a backup strategy to navigate through unexpected hurdles.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Legal and Regulatory Compliance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The legal and regulatory landscape is constantly changing, making it challenging to navigate. To avoid legal pitfalls and protect your business, it’s crucial to stay informed about changing laws that may affect your industry. Regularly updating your knowledge of compliance requirements and conducting compliance audits can help you identify and address potential legal issues before they escalate into full-blown crises. Engaging legal experts to review and ensure the airtightness of your contracts and agreements provides an additional layer of protection. These legal anchors guide you safely through the turbulent waters of the legal realm.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Employee Well-Being</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Your employees are the backbone of your business, and their well-being is essential to its resilience. Ensuring a safe working environment is paramount. Not only does it protect your team, but it also mitigates the risk of workplace incidents that can disrupt your operations. Offering competitive benefits is another facet of employee care. It helps attract and retain top talent, strengthening your business’s ability to weather storms. Cross-training employees ensures that your business can continue operating smoothly, even without key personnel. It’s like having a backup crew ready to step in when needed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Building Trust</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A strong reputation and active community engagement can be your business’s lifeline during challenging times. Building trust takes time and involves several strategies. Cultivating a positive brand image in the eyes of your community is paramount. Engaging in corporate social responsibility (CSR) initiatives demonstrates your commitment to giving back to the community that supports your business. Moreover, having a crisis communication plan in place is crucial. It ensures that you can effectively manage and mitigate any crisis that might tarnish your reputation. It’s about weathering the storm while preserving your brand’s integrity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Takeaway</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In conclusion, protecting your business against unforeseen circumstances is an ongoing journey. By conducting a comprehensive risk assessment, securing the right insurance coverage, implementing robust business continuity planning and financial preparedness, and fortifying your cybersecurity measures, you’re building a resilient fortress for your business. Ensuring supply chain risk management, staying on top of legal and regulatory compliance and prioritizing employee well-being further strengthen your business’s ability to withstand adversity. Active community engagement and reputation management cement your business’s place in the hearts of your customers and community. Remember that resilience is not a destination but a continuous process. Stay vigilant, stay prepared, and may your business not only weather the storms but emerge stronger and more resilient than ever. If you have more questions or need guidance, don’t hesitate to reach out. After all, even seasoned sailors seek advice when charting uncharted waters.</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/how-to-protect-your-business-against-unforeseen-circumstances/\">click here.</a></p>\n<!-- /wp:paragraph -->','How To Protect Your Business Against Unforeseen Circumstances','','publish','closed','closed','','how-to-protect-your-business-against-unforeseen-circumstances-2','','','2023-12-19 23:14:33','2023-12-19 23:14:33','',0,'https://smartinsurance.tips/?p=3701',0,'post','',0),(3702,1,'2023-12-19 23:12:55','2023-12-19 23:12:55','','Untitled-10','','inherit','closed','closed','','untitled-10','','','2023-12-19 23:12:55','2023-12-19 23:12:55','',3701,'http://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-10.png',0,'attachment','image/png',0),(3703,1,'2023-12-19 23:14:33','2023-12-19 23:14:33','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3702,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-10-1024x1024.png\" alt=\"\" class=\"wp-image-3702\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Preparing for unforeseen circumstances in the unpredictable to protect your business world is not just prudent; it’s a necessity. Your business is susceptible to many risks, ranging from natural disasters like earthquakes or floods that can devastate your physical infrastructure to economic downturns that can threaten your financial stability. Moreover, cyberattacks have become an ever-present menace lurking in the digital shadows. These threats, combined with the ever-evolving legal and regulatory landscape, make it paramount to fortify your business against the unexpected.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Risk Assessment</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You must begin with a thorough risk assessment to safeguard your business effectively. This process involves identifying potential risks, both external and internal, that could jeopardize your operations. The spectrum of risks is broad, encompassing the capriciousness of Mother Nature, economic fluctuations that can disrupt markets and consumer spending, and the insidious nature of cyber threats that can compromise your data integrity. Prioritizing these risks based on their potential impact and likelihood of occurrence is crucial. It allows you to allocate resources and develop mitigation strategies that cater to the most pressing threats.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Historical Data and Industry Trends</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>One of the most reliable guides for navigating the future is history itself. Historical data and industry trends can serve as your compass through uncharted waters. By examining past incidents and analyzing industry patterns, you can gain valuable insights into what might lie on the horizon. For instance, studying how your industry weathered previous economic downturns can inform your financial preparedness strategy. Moreover, historical data can help you identify recurring issues within your own business, enabling you to address vulnerabilities before they escalate into crises.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Insurance Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Insurance is your business’s safety net, ready to catch you when unforeseen circumstances threaten to knock you off your feet. There are various types of business insurance, each designed to shield you from specific risks. Commercial property insurance coverage, for instance, safeguards your physical assets, while liability insurance protects you from legal claims and financial liabilities. Business interruption insurance can be a lifesaver when your operations are disrupted, ensuring you don’t suffer catastrophic losses. Regularly reviewing and updating your insurance policies is essential. Your insurance needs may change as your business evolves, and failing to adapt your coverage can expose you to unexpected risks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Business Continuity Planning</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Business continuity planning is your business’s superhero cape in the face of adversity. It’s more than just a contingency plan; it’s your playbook for survival. A well-crafted business continuity plan outlines how your business will operate during and after a crisis, ensuring critical functions can continue even when chaos reigns. Effective communication is the linchpin of business continuity. It involves clear lines of communication within your team, with your customers, and with your suppliers. Without it, even the most well-prepared plan can falter in a crisis.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Financial Preparedness</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Financial preparedness is akin to the sturdy foundation upon which your business is built. One of the cornerstones of financial readiness is having emergency funds at your disposal. These funds act as a financial cushion, protecting you from the immediate impact of unexpected expenses or revenue dips. Additionally, having access to lines of credit or business loans can provide vital financial support when your cash flow is strained. Diversifying your revenue streams is another pillar of financial resilience. Relying solely on one source of income can be precarious; by diversifying, you reduce your vulnerability to economic downturns or shifts in consumer preferences.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Cybersecurity Measures</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In our increasingly digital age, safeguarding your digital fortress is as critical as protecting your physical assets. Your business’s data is its lifeblood, and proper data protection is non-negotiable. Implementing robust data encryption protocols and regular backups ensures your vital information remains secure. However, cybersecurity isn’t solely a technical matter; your employees are your first line of defense. Educating your team about phishing awareness and sound password management practices is essential. Moreover, establishing and enforcing IT security policies ensures that your digital defenses remain resilient in the face of cyber threats.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Supply Chain Risk Management</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Your supply chain is the circulatory system of your business, carrying the essential components that keep your operations healthy. However, it’s vulnerable to disruptions, whether from supplier issues, transportation delays, or unforeseen natural disasters. Supplier diversification is a strategic approach that minimizes your risk exposure. By spreading your supply sources across multiple vendors, you’re likely to be able to handle the failure of a single supplier. Moreover, having a contingency plan for supply chain disruptions can mean the difference between maintaining your operations and grinding to a halt. It’s about having a backup strategy to navigate through unexpected hurdles.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Legal and Regulatory Compliance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The legal and regulatory landscape is constantly changing, making it challenging to navigate. To avoid legal pitfalls and protect your business, it’s crucial to stay informed about changing laws that may affect your industry. Regularly updating your knowledge of compliance requirements and conducting compliance audits can help you identify and address potential legal issues before they escalate into full-blown crises. Engaging legal experts to review and ensure the airtightness of your contracts and agreements provides an additional layer of protection. These legal anchors guide you safely through the turbulent waters of the legal realm.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Employee Well-Being</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Your employees are the backbone of your business, and their well-being is essential to its resilience. Ensuring a safe working environment is paramount. Not only does it protect your team, but it also mitigates the risk of workplace incidents that can disrupt your operations. Offering competitive benefits is another facet of employee care. It helps attract and retain top talent, strengthening your business’s ability to weather storms. Cross-training employees ensures that your business can continue operating smoothly, even without key personnel. It’s like having a backup crew ready to step in when needed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Building Trust</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A strong reputation and active community engagement can be your business’s lifeline during challenging times. Building trust takes time and involves several strategies. Cultivating a positive brand image in the eyes of your community is paramount. Engaging in corporate social responsibility (CSR) initiatives demonstrates your commitment to giving back to the community that supports your business. Moreover, having a crisis communication plan in place is crucial. It ensures that you can effectively manage and mitigate any crisis that might tarnish your reputation. It’s about weathering the storm while preserving your brand’s integrity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Takeaway</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In conclusion, protecting your business against unforeseen circumstances is an ongoing journey. By conducting a comprehensive risk assessment, securing the right insurance coverage, implementing robust business continuity planning and financial preparedness, and fortifying your cybersecurity measures, you’re building a resilient fortress for your business. Ensuring supply chain risk management, staying on top of legal and regulatory compliance and prioritizing employee well-being further strengthen your business’s ability to withstand adversity. Active community engagement and reputation management cement your business’s place in the hearts of your customers and community. Remember that resilience is not a destination but a continuous process. Stay vigilant, stay prepared, and may your business not only weather the storms but emerge stronger and more resilient than ever. If you have more questions or need guidance, don’t hesitate to reach out. After all, even seasoned sailors seek advice when charting uncharted waters.</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/how-to-protect-your-business-against-unforeseen-circumstances/\">click here.</a></p>\n<!-- /wp:paragraph -->','How To Protect Your Business Against Unforeseen Circumstances','','inherit','closed','closed','','3701-revision-v1','','','2023-12-19 23:14:33','2023-12-19 23:14:33','',3701,'https://smartinsurance.tips/?p=3703',0,'revision','',0),(3704,1,'2023-12-19 23:20:32','2023-12-19 23:20:32','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3706,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-11-1024x1024.png\" alt=\"\" class=\"wp-image-3706\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Employees, children and organizations are increasingly going online to work, learn and run their businesses. The more they\'re online, though, the greater the chance of a scammer trying to trick them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Phishing is a form of social engineering, Cybercriminals use email, social media or malicious websites to pose as a trustworthy organization or person and solicit personal information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, an attacker might send an email that seems to come from a reputable credit card company or financial institution. The attacker requests the user\'s account information and often suggests that there is a problem. When the user replies with the requested information, attackers can use it to access their accounts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Phishing attacks might also appear to come from other organizations, such as charities. Attackers often take advantage of current events and certain times of the year, such as</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Natural disasters (e.g., hurricanes, tornadoes or earthquakes)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Epidemics and health scares</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Economic concerns (e.g., IRS scams)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Major political elections and crises</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Holidays</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Types of Phishing</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Email Phishing</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most phishing attacks use email. A scammer registers a fake domain or website name that mimics a real organization and then sends out thousands of generic requests.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, a scammer might email or text messages like these:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>\"We suspect an unauthorized transaction on your account. To ensure that your account is not compromised, please click the link below and confirm your identity.\"</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>\"During our regular verification of accounts, we couldn\'t verify your information. Please click here to update and verify your information.\"</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>\"Our records indicate that your account was overcharged. You must call us within 7 days to receive your refund.\"</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>The fake website name often replaces one letter with another. For example, \"r\" and \"n\" might be put together to make \"rn,\" which looks like \"m.\" Phishing attacks might also use an organization’s name in a fake address (e.g., paypal@domainregistrar.com), so that a legitimate sender’s name (e.g., PayPal) appears in the recipient’s inbox. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Spear Phishing</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Spear phishing is when a cybercriminal sends a harmful email to a specific person that includes personal information to better trick them. That information might include the person\'s:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Name</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>School or employer&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Grade level or job title&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Email address&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Details about their school or job role</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Smishing &amp; Vishing</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In smishing, scammers send text messages. Vishing involves telephone calls. In both, like in email phishing, scammers try to trick the recipient into clicking on a link or attachment or sharing personal information.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Angler Phishing</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Angler phishing involves using social media to trick people into giving up sensitive information or downloading malware.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Scammers might use fake URLs, instant messaging and cloned websites, as well as posts and tweets. Highly targeted attacks might also be based on information that people willingly post on social media. That information includes geotagging, names, birthdays and vacations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Simple Tips</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When in doubt, throw it out. Links in emails and online posts are often the way cybercriminals compromise your computer. If it looks suspicious – even if you know the source – it’s best to delete or, if appropriate, mark it as “junk email.” Contact the company directly (via phone) to be sure the email is not legitimate.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Think before you act.</strong>&nbsp;Be wary of communications that implore you to act immediately, offer something that sounds too good to be true or ask for personal or financial information.&nbsp;Always check URLs and email addresses if you’re asked to click a link or download an attachment.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Use stronger authentication.&nbsp;</strong>Always opt to enable stronger authentication when available, especially for accounts with sensitive information, including your email or bank accounts. A stronger authentication helps verify a user has authorized access to an online account. For example, it could be a one-time PIN texted to a mobile device, providing an added layer of security beyond the password and username.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Make passwords long and strong.</strong>&nbsp;Combine capital and lowercase letters with numbers and symbols to create a more secure password.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Install and update anti-virus software.</strong>&nbsp;Make sure all of your computers are equipped with regularly updated antivirus software, firewalls, email filters and anti-spyware.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Be wary of hyperlinks.&nbsp;</strong>Avoid clicking on hyperlinks in emails. Instead, type the URL directly into the address bar instead. If you choose to click on a link, make sure it is authentic before clicking on it. You can check a hyperlinked word or URL by hovering the cursor over it to reveal the full address.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What to Do If You Think You’re a Victim</h2>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Report it.&nbsp;</strong>If you believe you might have revealed sensitive information about your organization, report it to the appropriate people within the organization, including network administrators. They can be alert for any suspicious or unusual activity.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Watch for changes to your accounts.&nbsp;</strong>If you believe your financial accounts may be compromised, contact your financial institution immediately and close any accounts that may have been compromised. Watch for any unexplainable charges to your account.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Change your passwords.</strong>&nbsp;Immediately change any passwords you might have revealed. If you used the same password for multiple resources, make sure to change it for each account, and do not use that password in the future.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Watch for other signs of identity theft. </strong>These signs could include but are not limited to: unusual or unexplainable charges on your bills; phone calls or bills for accounts; products or services that you do not have; new, strange accounts appearing on your credit report; or unexpected denial of your credit card.</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://it.nc.gov/resources/online-safety-privacy/tips-guidance/avoiding-phishing-attacks\">click here.</a></p>\n<!-- /wp:paragraph -->','Avoiding Phishing Attacks','','publish','closed','closed','','avoiding-phishing-attacks','','','2023-12-19 23:20:32','2023-12-19 23:20:32','',0,'https://smartinsurance.tips/?p=3704',0,'post','',0),(3705,1,'2023-12-19 23:19:21','2023-12-19 23:19:21','','Untitled-10-1','','inherit','closed','closed','','untitled-10-1','','','2023-12-19 23:19:21','2023-12-19 23:19:21','',3704,'http://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-10-1.png',0,'attachment','image/png',0),(3706,1,'2023-12-19 23:19:40','2023-12-19 23:19:40','','Untitled-11','','inherit','closed','closed','','untitled-11','','','2023-12-19 23:19:40','2023-12-19 23:19:40','',3704,'http://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-11.png',0,'attachment','image/png',0),(3707,1,'2023-12-19 23:20:32','2023-12-19 23:20:32','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3706,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-11-1024x1024.png\" alt=\"\" class=\"wp-image-3706\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Employees, children and organizations are increasingly going online to work, learn and run their businesses. The more they\'re online, though, the greater the chance of a scammer trying to trick them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Phishing is a form of social engineering, Cybercriminals use email, social media or malicious websites to pose as a trustworthy organization or person and solicit personal information.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, an attacker might send an email that seems to come from a reputable credit card company or financial institution. The attacker requests the user\'s account information and often suggests that there is a problem. When the user replies with the requested information, attackers can use it to access their accounts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Phishing attacks might also appear to come from other organizations, such as charities. Attackers often take advantage of current events and certain times of the year, such as</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Natural disasters (e.g., hurricanes, tornadoes or earthquakes)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Epidemics and health scares</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Economic concerns (e.g., IRS scams)</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Major political elections and crises</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Holidays</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Types of Phishing</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Email Phishing</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Most phishing attacks use email. A scammer registers a fake domain or website name that mimics a real organization and then sends out thousands of generic requests.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For example, a scammer might email or text messages like these:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>\"We suspect an unauthorized transaction on your account. To ensure that your account is not compromised, please click the link below and confirm your identity.\"</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>\"During our regular verification of accounts, we couldn\'t verify your information. Please click here to update and verify your information.\"</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>\"Our records indicate that your account was overcharged. You must call us within 7 days to receive your refund.\"</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>The fake website name often replaces one letter with another. For example, \"r\" and \"n\" might be put together to make \"rn,\" which looks like \"m.\" Phishing attacks might also use an organization’s name in a fake address (e.g., paypal@domainregistrar.com), so that a legitimate sender’s name (e.g., PayPal) appears in the recipient’s inbox. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Spear Phishing</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Spear phishing is when a cybercriminal sends a harmful email to a specific person that includes personal information to better trick them. That information might include the person\'s:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li>Name</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>School or employer&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Grade level or job title&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Email address&nbsp;</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li>Details about their school or job role</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Smishing &amp; Vishing</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In smishing, scammers send text messages. Vishing involves telephone calls. In both, like in email phishing, scammers try to trick the recipient into clicking on a link or attachment or sharing personal information.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">Angler Phishing</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Angler phishing involves using social media to trick people into giving up sensitive information or downloading malware.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Scammers might use fake URLs, instant messaging and cloned websites, as well as posts and tweets. Highly targeted attacks might also be based on information that people willingly post on social media. That information includes geotagging, names, birthdays and vacations.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Simple Tips</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When in doubt, throw it out. Links in emails and online posts are often the way cybercriminals compromise your computer. If it looks suspicious – even if you know the source – it’s best to delete or, if appropriate, mark it as “junk email.” Contact the company directly (via phone) to be sure the email is not legitimate.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Think before you act.</strong>&nbsp;Be wary of communications that implore you to act immediately, offer something that sounds too good to be true or ask for personal or financial information.&nbsp;Always check URLs and email addresses if you’re asked to click a link or download an attachment.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Use stronger authentication.&nbsp;</strong>Always opt to enable stronger authentication when available, especially for accounts with sensitive information, including your email or bank accounts. A stronger authentication helps verify a user has authorized access to an online account. For example, it could be a one-time PIN texted to a mobile device, providing an added layer of security beyond the password and username.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Make passwords long and strong.</strong>&nbsp;Combine capital and lowercase letters with numbers and symbols to create a more secure password.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Install and update anti-virus software.</strong>&nbsp;Make sure all of your computers are equipped with regularly updated antivirus software, firewalls, email filters and anti-spyware.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Be wary of hyperlinks.&nbsp;</strong>Avoid clicking on hyperlinks in emails. Instead, type the URL directly into the address bar instead. If you choose to click on a link, make sure it is authentic before clicking on it. You can check a hyperlinked word or URL by hovering the cursor over it to reveal the full address.</li>\n<!-- /wp:list-item --></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What to Do If You Think You’re a Victim</h2>\n<!-- /wp:heading -->\n\n<!-- wp:list -->\n<ul><!-- wp:list-item -->\n<li><strong>Report it.&nbsp;</strong>If you believe you might have revealed sensitive information about your organization, report it to the appropriate people within the organization, including network administrators. They can be alert for any suspicious or unusual activity.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Watch for changes to your accounts.&nbsp;</strong>If you believe your financial accounts may be compromised, contact your financial institution immediately and close any accounts that may have been compromised. Watch for any unexplainable charges to your account.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Change your passwords.</strong>&nbsp;Immediately change any passwords you might have revealed. If you used the same password for multiple resources, make sure to change it for each account, and do not use that password in the future.</li>\n<!-- /wp:list-item -->\n\n<!-- wp:list-item -->\n<li><strong>Watch for other signs of identity theft. </strong>These signs could include but are not limited to: unusual or unexplainable charges on your bills; phone calls or bills for accounts; products or services that you do not have; new, strange accounts appearing on your credit report; or unexpected denial of your credit card.</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://it.nc.gov/resources/online-safety-privacy/tips-guidance/avoiding-phishing-attacks\">click here.</a></p>\n<!-- /wp:paragraph -->','Avoiding Phishing Attacks','','inherit','closed','closed','','3704-revision-v1','','','2023-12-19 23:20:32','2023-12-19 23:20:32','',3704,'https://smartinsurance.tips/?p=3707',0,'revision','',0),(3708,1,'2023-12-19 23:33:57','2023-12-19 23:33:57','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3709,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/rsz_untitled_12.png\" alt=\"\" class=\"wp-image-3709\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>We all want to be thought of as good employees, but if we really want to fulfill our career aspirations, then we need to push ourselves to be the best that we can be!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>After all, if we only do the minimum required of us, we probably won\'t get very far. So, if you\'ve set your sights on world domination (or perhaps just that promotion you\'ve always wanted), use these 18 tips to make it a reality.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Be the Best People Person</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>People skills are one of the most sought-after competencies valued by employers. When you work well with others, it improves productivity, creativity and job satisfaction. So, let\'s kick-start our top tips list by looking at what you can do to become a better people person.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">1. Be a Great Communicator</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Being able to communicate well – in person and in writing – is an essential skill in most workplaces. But, it\'s also one that is often forgotten about. In fact, a study from the National Commission on Writing reveals that blue-chip companies spend as much as $3.1 billion on writing training.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The ability to express yourself eloquently can mean the difference between getting noticed and being overlooked. Write a bad email and all anyone will remember is your poor grammar. But write one that is clear, concise and interesting, and you\'ll likely find that people will respond to your message quickly and positively.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">2. Nurture Your Work Relationships</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>People skills are as important in the workplace as technical ability. These kinds of \"interpersonal skills\" can help you to collaborate, communicate, manage conflict, motivate, increase productivity, solve problems, and network.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>When you have good working relationships you\'ll likely be more happy and engaged at work, too. In fact, a 2023 study revealed that positive workplace relationships can help you to avoid burnout, exhaustion and even loneliness.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">3. Listen!</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It can be all too easy to \"tune out\" sometimes. Whether you\'re really focused and \"in flow,\" or you\'re easily distracted by emails and other minor tasks, maybe you just aren\'t paying enough attention to the person who\'s talking to you. Whatever the case, you\'re not alone. It seems that most of us aren\'t great listeners. Indeed, research suggests that we remember between just 25 percent and 50 percent of what we hear!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But listening is vital if you want to succeed at work. It can help you to take in information, learn from others, build relationships, and take direction. Active listening is one of the ways you can improve your ability to listen. It involves making a <strong>conscious</strong> effort to hear not only the words someone is saying, but the key messages that they are trying to express.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">4. Know How to Work With Your Boss</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you\'re lucky, you\'ll have a boss that you respect, like and admire. If you\'re not so lucky, however, you may have one who, for whatever reason, you just don\'t \"click\" with. If this happens, it can have a significant impact on your happiness and your productivity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Ultimately, the onus is on you to make the relationship work. Your boss will likely have several other people to manage, so their relationship with you may not always be at the top of their list. But it should be at the top of yours! Find out more about their preferred management style. Then, adapt your own working style to suit it. Do they like to receive information in person, or prefer email? How do they tend to handle bad news? Do they like to micromanage people or are they happy to delegate tasks?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Be the Best at Taking Initiative</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When you take the initiative, you take control of your career. This might be as simple as learning to organize your workload effectively. Or, it could be more complex – for example, seeking out new opportunities and understanding the purpose behind the work you do. Here are some tips for doing this:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">5. Prioritize<strong>&nbsp;</strong>Your Goals</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>With so many demands on your time, it\'s easy to get distracted and lose sight of your main goals. Start each day by prioritizing your To-Do List, and focusing your attention on the top three items. This will help you to manage your time effectively, and to concentrate on the objectives that matter the most. And, if you\'re really swamped, don\'t be afraid to ask for help, to delegate tasks, or even to<a rel=\"noreferrer noopener\" href=\"https://www.mindtools.com/asngpui/yes-to-the-person-no-to-the-task-video\" target=\"_blank\"> say \"no\"</a> sometimes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">6. Challenge Yourself</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Feeling comfortable and confident in a job likely means that you\'re doing it well. But, if you\'re finding it all too easy, you may begin to feel bored and unfulfilled.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Sure, you could carry on and \"coast\" your way through. But this probably isn\'t going to get you very far in the long term. Instead, stay challenged by setting yourself some new goals. Learn a new skill, go on a training course, or ask your boss for more responsibility. Not only will you be pegged as a \"self starter,\" you\'ll also get the chance to broaden your skills, and to engage in new ways of thinking. It may even open up opportunities to work on different projects and with different people.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">7. Get out of Your \"Comfort Zone\"</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Stepping outside of your comfort zone is – unsurprisingly – uncomfortable! You might feel exposed, or worry that you\'ll look stupid. However, if you avoid taking opportunities when they present themselves, you\'ll never know just how far you can go.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Yes, doing something new can be scary. It might also mean more pressure and more work. But, it can also push you to perform better. It can make you more resilient, give you the flexibility to take risks and cope with unexpected problems, and help you to overcome fear of failure.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Doing something you\'ve never done before can be scary, but can also present new opportunities for learning and progression.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">8. Remember the Bigger Picture</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Do you know <strong>why</strong> you do the work that you do? What\'s its purpose? Why is it meaningful to you? And how does it help the business to achieve <strong>its</strong> goals?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Understanding how the work that you do benefits your organization can improve your performance. It adds purpose to your work, helps you to prioritize your tasks more effectively, and enables you to identify tasks or areas of the business that can be made more efficient.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">9. Build Expertise and Share It!</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Having a specialized skill or excelling in a particular task can put you \"in demand.\" Even more so if you have deep knowledge of a subject that is highly sought after – for instance, analytical thinking, creative thinking or resilience.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Being the \"go-to\" person for a particular task or topic can enhance your reputation and allow you to help others. It can also lead to opportunities to work on high-profile tasks, and may even result in promotion. But remember that building expertise takes dedication and resolve. So, be prepared to put the time in!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">10. Know Your Stuff</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Rapid advances in technology, along with global political and financial developments, mean that change is fast-paced and unpredictable. And, if you don\'t make an effort to keep up with these changes, it can result in missed opportunities or getting left behind.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Combat this by making it a priority to stay up-to-date with your industry. Join a trade organization, attend trade shows or conferences, read blogs, and connect with industry leaders and colleagues on social media sites like LinkedIn or Twitter.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">11. Set Aside Time for \"Deep Work\"</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We live in an age of distractions. Email, social media, instant messaging, office politics, unnecessary meetings… even the weather! All of these things can cause you to lose focus on the tasks that really matter. In fact, some studies suggest that knowledge workers lose up to three hours a day because of distractions. And this can cost businesses 14 to 15 times more than absenteeism due to health-related issues.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Setting aside time for \"deep work\" can help you build expertise.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>WhatsApp messages that you\'ve just received. But, if you really want to produce quality work, you and your phone will need to part ways (temporarily at least). This is where \"deep work\" can help. It involves pushing distractions to one side, and giving yourself the time and space to really focus on challenging and complicated tasks. This has a number of benefits. For example, it can help you to build expertise and knowledge, and give you a greater sense of fulfillment and achievement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">12. Make Mistakes (and Learn From Them<strong>)</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We\'ve all had that sudden sinking feeling when we realize that we\'ve made a mistake. But it\'s how you handle these \"bloopers\" that really matters. Do you, for instance, tend to \"run for the hills\" and hope that no one notices? Pass the blame onto someone else? Or, do you \"fess up\" and do your best to remedy the situation?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It can be hard to swallow your pride and take ownership of the mistakes that you make. But, it is only by doing this that you will ultimately learn from them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Part of learning is knowing when we\'ve made a mistake and what we can do to fix it or make things better in the future.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">13. Ask for Feedback and Use It!</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It can be difficult to hear criticism, particularly when it\'s unexpected. But, if you don\'t get any feedback at all, you may begin to wonder whether your work is valued or even noticed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Why not take the initiative? Ask for feedback from managers and colleagues. Not only will you be seen as a proactive member of the team, but the advice and insight that they provide will likely help you to improve your performance, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">14. Protect Your Professional Reputation</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Your reputation is what you\'re known for. It encompasses your personality, your skills, your values, and your temperament.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It can take time and effort to build up a good reputation, but just moments to destroy it. This means that you need to put the work in if you want to protect and maintain it. Do this by carrying out a personal SWOT analysis to assess your skills, and to create a plan for developing the professional traits and abilities that you want to be known for.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">15. Develop Leadership Skills</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>One of the major \"pain points\" for businesses is the lack of leadership skills among their employees – even those who are in senior or highly technical roles. Research shows that the best and most successful leaders are those who encourage learning and listen to feedback and ideas. And that this, in turn, can help teams to become more resilient and effective.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>So, if you\'ve set your sights on a promotion, why wait? Start preparing today by broadening your skill set to include listening, empathy, problem solving, and negotiation. And acquaint yourself with different leadership styles, such as Transformational Leadership, Action Centered Leadership and Adaptive Leadership.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">16. Get Yourself Noticed</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Have you ever completed a piece of work that you were really proud of, only for it to go unnoticed?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Feeling as though your work isn\'t valued or even acknowledged can be deeply demoralizing and frustrating. But, there are ways you can improve your visibility at work. Building a strong network of allies, for instance, can help, as can tracking your accomplishments, taking on additional responsibilities, or finding a mentor or coach whom you respect and who can help you develop your skills and career.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">17. Learn How to Cope With Stress</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It can be easy to get caught up in negative thoughts sometimes, particularly if you\'ve made a mistake, received some poor feedback, or work in a high-pressure job. But, real problems can occur if you allow these thoughts to take over, such as low self-confidence, poor self-esteem, or even depression and anxiety. All of these things can impact your productivity and performance – setting the whole cycle in motion once again.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Remember that setbacks and stress are a part of everyone\'s life. You can either crumple under the pressure or find strategies to help you cope. These could include mindfulness, affirmations or cognitive restructuring.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most of all, know when to stop. It can be hard to switch off, particularly when you\'re surrounded by \"always on\" devices, like smartphones or tablets. But learning how to relax – really relax – will help you to recharge, stay calm and avoid burnout.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">18. Be Yourself</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Pretending to be someone else or being a \"yes man\" (or woman) can be exhausting, confining and demoralizing. It can also hold you back from reaching your true potential. But, when you stay true to yourself and your values, you\'ll find that you can express your thoughts and ideas much more clearly and confidently. And you\'ll have a reputation for integrity that will earn the trust and respect of your peers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Yes, it may sometimes mean \"going against the grain\" or taking the harder road. But it also allows you to live a more authentic and, ultimately, more rewarding life.</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.mindtools.com/blog/18-be-best-you-work/\">click here.</a></p>\n<!-- /wp:paragraph -->','18 Ways to Be the Best You Can Be','','publish','closed','closed','','18-ways-to-be-the-best-you-can-be','','','2023-12-19 23:33:57','2023-12-19 23:33:57','',0,'https://smartinsurance.tips/?p=3708',0,'post','',0),(3709,1,'2023-12-19 23:29:28','2023-12-19 23:29:28','','rsz_untitled_12','','inherit','closed','closed','','rsz_untitled_12','','','2023-12-19 23:29:28','2023-12-19 23:29:28','',3708,'http://smartinsurance.tips/wp-content/uploads/2023/12/rsz_untitled_12.png',0,'attachment','image/png',0),(3710,1,'2023-12-19 23:33:57','2023-12-19 23:33:57','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3709,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/rsz_untitled_12.png\" alt=\"\" class=\"wp-image-3709\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>We all want to be thought of as good employees, but if we really want to fulfill our career aspirations, then we need to push ourselves to be the best that we can be!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>After all, if we only do the minimum required of us, we probably won\'t get very far. So, if you\'ve set your sights on world domination (or perhaps just that promotion you\'ve always wanted), use these 18 tips to make it a reality.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Be the Best People Person</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>People skills are one of the most sought-after competencies valued by employers. When you work well with others, it improves productivity, creativity and job satisfaction. So, let\'s kick-start our top tips list by looking at what you can do to become a better people person.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">1. Be a Great Communicator</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Being able to communicate well – in person and in writing – is an essential skill in most workplaces. But, it\'s also one that is often forgotten about. In fact, a study from the National Commission on Writing reveals that blue-chip companies spend as much as $3.1 billion on writing training.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The ability to express yourself eloquently can mean the difference between getting noticed and being overlooked. Write a bad email and all anyone will remember is your poor grammar. But write one that is clear, concise and interesting, and you\'ll likely find that people will respond to your message quickly and positively.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">2. Nurture Your Work Relationships</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>People skills are as important in the workplace as technical ability. These kinds of \"interpersonal skills\" can help you to collaborate, communicate, manage conflict, motivate, increase productivity, solve problems, and network.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>When you have good working relationships you\'ll likely be more happy and engaged at work, too. In fact, a 2023 study revealed that positive workplace relationships can help you to avoid burnout, exhaustion and even loneliness.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">3. Listen!</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It can be all too easy to \"tune out\" sometimes. Whether you\'re really focused and \"in flow,\" or you\'re easily distracted by emails and other minor tasks, maybe you just aren\'t paying enough attention to the person who\'s talking to you. Whatever the case, you\'re not alone. It seems that most of us aren\'t great listeners. Indeed, research suggests that we remember between just 25 percent and 50 percent of what we hear!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>But listening is vital if you want to succeed at work. It can help you to take in information, learn from others, build relationships, and take direction. Active listening is one of the ways you can improve your ability to listen. It involves making a <strong>conscious</strong> effort to hear not only the words someone is saying, but the key messages that they are trying to express.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">4. Know How to Work With Your Boss</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you\'re lucky, you\'ll have a boss that you respect, like and admire. If you\'re not so lucky, however, you may have one who, for whatever reason, you just don\'t \"click\" with. If this happens, it can have a significant impact on your happiness and your productivity.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Ultimately, the onus is on you to make the relationship work. Your boss will likely have several other people to manage, so their relationship with you may not always be at the top of their list. But it should be at the top of yours! Find out more about their preferred management style. Then, adapt your own working style to suit it. Do they like to receive information in person, or prefer email? How do they tend to handle bad news? Do they like to micromanage people or are they happy to delegate tasks?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Be the Best at Taking Initiative</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>When you take the initiative, you take control of your career. This might be as simple as learning to organize your workload effectively. Or, it could be more complex – for example, seeking out new opportunities and understanding the purpose behind the work you do. Here are some tips for doing this:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">5. Prioritize<strong>&nbsp;</strong>Your Goals</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>With so many demands on your time, it\'s easy to get distracted and lose sight of your main goals. Start each day by prioritizing your To-Do List, and focusing your attention on the top three items. This will help you to manage your time effectively, and to concentrate on the objectives that matter the most. And, if you\'re really swamped, don\'t be afraid to ask for help, to delegate tasks, or even to<a rel=\"noreferrer noopener\" href=\"https://www.mindtools.com/asngpui/yes-to-the-person-no-to-the-task-video\" target=\"_blank\"> say \"no\"</a> sometimes.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">6. Challenge Yourself</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Feeling comfortable and confident in a job likely means that you\'re doing it well. But, if you\'re finding it all too easy, you may begin to feel bored and unfulfilled.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Sure, you could carry on and \"coast\" your way through. But this probably isn\'t going to get you very far in the long term. Instead, stay challenged by setting yourself some new goals. Learn a new skill, go on a training course, or ask your boss for more responsibility. Not only will you be pegged as a \"self starter,\" you\'ll also get the chance to broaden your skills, and to engage in new ways of thinking. It may even open up opportunities to work on different projects and with different people.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">7. Get out of Your \"Comfort Zone\"</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Stepping outside of your comfort zone is – unsurprisingly – uncomfortable! You might feel exposed, or worry that you\'ll look stupid. However, if you avoid taking opportunities when they present themselves, you\'ll never know just how far you can go.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Yes, doing something new can be scary. It might also mean more pressure and more work. But, it can also push you to perform better. It can make you more resilient, give you the flexibility to take risks and cope with unexpected problems, and help you to overcome fear of failure.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Doing something you\'ve never done before can be scary, but can also present new opportunities for learning and progression.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">8. Remember the Bigger Picture</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Do you know <strong>why</strong> you do the work that you do? What\'s its purpose? Why is it meaningful to you? And how does it help the business to achieve <strong>its</strong> goals?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Understanding how the work that you do benefits your organization can improve your performance. It adds purpose to your work, helps you to prioritize your tasks more effectively, and enables you to identify tasks or areas of the business that can be made more efficient.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">9. Build Expertise and Share It!</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Having a specialized skill or excelling in a particular task can put you \"in demand.\" Even more so if you have deep knowledge of a subject that is highly sought after – for instance, analytical thinking, creative thinking or resilience.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Being the \"go-to\" person for a particular task or topic can enhance your reputation and allow you to help others. It can also lead to opportunities to work on high-profile tasks, and may even result in promotion. But remember that building expertise takes dedication and resolve. So, be prepared to put the time in!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">10. Know Your Stuff</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Rapid advances in technology, along with global political and financial developments, mean that change is fast-paced and unpredictable. And, if you don\'t make an effort to keep up with these changes, it can result in missed opportunities or getting left behind.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Combat this by making it a priority to stay up-to-date with your industry. Join a trade organization, attend trade shows or conferences, read blogs, and connect with industry leaders and colleagues on social media sites like LinkedIn or Twitter.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">11. Set Aside Time for \"Deep Work\"</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We live in an age of distractions. Email, social media, instant messaging, office politics, unnecessary meetings… even the weather! All of these things can cause you to lose focus on the tasks that really matter. In fact, some studies suggest that knowledge workers lose up to three hours a day because of distractions. And this can cost businesses 14 to 15 times more than absenteeism due to health-related issues.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Setting aside time for \"deep work\" can help you build expertise.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>WhatsApp messages that you\'ve just received. But, if you really want to produce quality work, you and your phone will need to part ways (temporarily at least). This is where \"deep work\" can help. It involves pushing distractions to one side, and giving yourself the time and space to really focus on challenging and complicated tasks. This has a number of benefits. For example, it can help you to build expertise and knowledge, and give you a greater sense of fulfillment and achievement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">12. Make Mistakes (and Learn From Them<strong>)</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>We\'ve all had that sudden sinking feeling when we realize that we\'ve made a mistake. But it\'s how you handle these \"bloopers\" that really matters. Do you, for instance, tend to \"run for the hills\" and hope that no one notices? Pass the blame onto someone else? Or, do you \"fess up\" and do your best to remedy the situation?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It can be hard to swallow your pride and take ownership of the mistakes that you make. But, it is only by doing this that you will ultimately learn from them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Part of learning is knowing when we\'ve made a mistake and what we can do to fix it or make things better in the future.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">13. Ask for Feedback and Use It!</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It can be difficult to hear criticism, particularly when it\'s unexpected. But, if you don\'t get any feedback at all, you may begin to wonder whether your work is valued or even noticed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Why not take the initiative? Ask for feedback from managers and colleagues. Not only will you be seen as a proactive member of the team, but the advice and insight that they provide will likely help you to improve your performance, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">14. Protect Your Professional Reputation</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Your reputation is what you\'re known for. It encompasses your personality, your skills, your values, and your temperament.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It can take time and effort to build up a good reputation, but just moments to destroy it. This means that you need to put the work in if you want to protect and maintain it. Do this by carrying out a personal SWOT analysis to assess your skills, and to create a plan for developing the professional traits and abilities that you want to be known for.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">15. Develop Leadership Skills</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>One of the major \"pain points\" for businesses is the lack of leadership skills among their employees – even those who are in senior or highly technical roles. Research shows that the best and most successful leaders are those who encourage learning and listen to feedback and ideas. And that this, in turn, can help teams to become more resilient and effective.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>So, if you\'ve set your sights on a promotion, why wait? Start preparing today by broadening your skill set to include listening, empathy, problem solving, and negotiation. And acquaint yourself with different leadership styles, such as Transformational Leadership, Action Centered Leadership and Adaptive Leadership.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">16. Get Yourself Noticed</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Have you ever completed a piece of work that you were really proud of, only for it to go unnoticed?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Feeling as though your work isn\'t valued or even acknowledged can be deeply demoralizing and frustrating. But, there are ways you can improve your visibility at work. Building a strong network of allies, for instance, can help, as can tracking your accomplishments, taking on additional responsibilities, or finding a mentor or coach whom you respect and who can help you develop your skills and career.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">17. Learn How to Cope With Stress</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>It can be easy to get caught up in negative thoughts sometimes, particularly if you\'ve made a mistake, received some poor feedback, or work in a high-pressure job. But, real problems can occur if you allow these thoughts to take over, such as low self-confidence, poor self-esteem, or even depression and anxiety. All of these things can impact your productivity and performance – setting the whole cycle in motion once again.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Remember that setbacks and stress are a part of everyone\'s life. You can either crumple under the pressure or find strategies to help you cope. These could include mindfulness, affirmations or cognitive restructuring.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Most of all, know when to stop. It can be hard to switch off, particularly when you\'re surrounded by \"always on\" devices, like smartphones or tablets. But learning how to relax – really relax – will help you to recharge, stay calm and avoid burnout.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h3 class=\"wp-block-heading\">18. Be Yourself</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Pretending to be someone else or being a \"yes man\" (or woman) can be exhausting, confining and demoralizing. It can also hold you back from reaching your true potential. But, when you stay true to yourself and your values, you\'ll find that you can express your thoughts and ideas much more clearly and confidently. And you\'ll have a reputation for integrity that will earn the trust and respect of your peers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Yes, it may sometimes mean \"going against the grain\" or taking the harder road. But it also allows you to live a more authentic and, ultimately, more rewarding life.</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.mindtools.com/blog/18-be-best-you-work/\">click here.</a></p>\n<!-- /wp:paragraph -->','18 Ways to Be the Best You Can Be','','inherit','closed','closed','','3708-revision-v1','','','2023-12-19 23:33:57','2023-12-19 23:33:57','',3708,'https://smartinsurance.tips/?p=3710',0,'revision','',0),(3711,1,'2023-12-19 23:36:04','2023-12-19 23:36:04','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3712,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-13-1024x1024.png\" alt=\"\" class=\"wp-image-3712\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>The holidays are filled with sweets, parties, decorating, get-togethers with family and friends, gift-giving, alcoholic beverages, school programs, shopping, and not a moment of silence. It’s the “most wonderful time of the year,” but it can also leave you exhausted and feeling out of sorts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>How can you resume healthy habits and get back to normal?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Take it One Day at a Time</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The holiday season lacks structure. You won’t get back to normal overnight, so don’t plan on it! Set realistic expectations for after the holidays and take one step at a time with your schedule and responsibilities. If your house is in shambles, choose a few places to tackle each day. If you’re out of your workout routine, aim for a couple days of exercise each week instead of running to the gym every day. You will feel better when you are making progress, yet not overwhelmed with tasks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Give Yourself Some Downtime</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>After so much social activity, it’s important to make time for rest. An afternoon lounging at home, time meditating, an evening spent reading your favorite book, and even napping can help you recover and rest from a busy season. Even the most social people need some downtime every once in a while. Take what you and your body need.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Prioritize Sleep</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Late nights and early mornings are common during the holiday season. Taking a step back to make sure you’re getting enough sleep at night can be a game-changer. Minimize screen time and set a regular schedule for the times you go to bed and wake up. This should help you start feeling more refreshed and energized.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Clean Up Your Diet</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If your holidays contained too mush sugar, fat, alcohol and calories, begin making some changes to improve your diet. But instead of focusing on cutting foods out of your diet, focus on what you can add in, such as lean proteins, fruits, vegetables, and more water. Give your body the balanced nutrition it needs and scale back on the “extras” by choosing them in moderation. This will also help improve your energy and how you feel throughout the day.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Don’t Fall into Gimmicks</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As the holiday season ends, we are bombarded with information about new diets, exercise plans, and the latest and greatest health products. Take time to evaluate these items as they come up. If it’s too good to be true, it probably is. Quick fixes to your health are almost never the answer. Instead, nutrient-dense foods, movement, and overall balance in your lifestyle form the recipe for your ultimate success and wellbeing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Still Plan for Fun</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Don’t go from one hundred to zero. Find time for fun after the holidays as dark January days roll in. Social activities and going on adventures can help you make it through the long winter.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Think and Evaluate</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Many people make New Year’s resolutions this time of year, or set their intentions for the year ahead. Take a look at where you are in all areas of your life and make note of where you want to be. In December, you can reflect on your progress and set new goals for 2024.</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.yourweightmatters.org/tips-for-getting-back-to-normal-after-the-holidays/\">click here.</a></p>\n<!-- /wp:paragraph -->','Tips for Getting Back to Normal After the Holidays','','publish','closed','closed','','tips-for-getting-back-to-normal-after-the-holidays','','','2023-12-19 23:36:04','2023-12-19 23:36:04','',0,'https://smartinsurance.tips/?p=3711',0,'post','',0),(3712,1,'2023-12-19 23:35:32','2023-12-19 23:35:32','','Untitled-13','','inherit','closed','closed','','untitled-13-2','','','2023-12-19 23:35:32','2023-12-19 23:35:32','',3711,'http://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-13.png',0,'attachment','image/png',0),(3713,1,'2023-12-19 23:36:04','2023-12-19 23:36:04','<!-- wp:gallery {\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped\"><!-- wp:image {\"id\":3712,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-13-1024x1024.png\" alt=\"\" class=\"wp-image-3712\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>The holidays are filled with sweets, parties, decorating, get-togethers with family and friends, gift-giving, alcoholic beverages, school programs, shopping, and not a moment of silence. It’s the “most wonderful time of the year,” but it can also leave you exhausted and feeling out of sorts.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>How can you resume healthy habits and get back to normal?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Take it One Day at a Time</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The holiday season lacks structure. You won’t get back to normal overnight, so don’t plan on it! Set realistic expectations for after the holidays and take one step at a time with your schedule and responsibilities. If your house is in shambles, choose a few places to tackle each day. If you’re out of your workout routine, aim for a couple days of exercise each week instead of running to the gym every day. You will feel better when you are making progress, yet not overwhelmed with tasks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Give Yourself Some Downtime</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>After so much social activity, it’s important to make time for rest. An afternoon lounging at home, time meditating, an evening spent reading your favorite book, and even napping can help you recover and rest from a busy season. Even the most social people need some downtime every once in a while. Take what you and your body need.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Prioritize Sleep</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Late nights and early mornings are common during the holiday season. Taking a step back to make sure you’re getting enough sleep at night can be a game-changer. Minimize screen time and set a regular schedule for the times you go to bed and wake up. This should help you start feeling more refreshed and energized.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Clean Up Your Diet</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If your holidays contained too mush sugar, fat, alcohol and calories, begin making some changes to improve your diet. But instead of focusing on cutting foods out of your diet, focus on what you can add in, such as lean proteins, fruits, vegetables, and more water. Give your body the balanced nutrition it needs and scale back on the “extras” by choosing them in moderation. This will also help improve your energy and how you feel throughout the day.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Don’t Fall into Gimmicks</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>As the holiday season ends, we are bombarded with information about new diets, exercise plans, and the latest and greatest health products. Take time to evaluate these items as they come up. If it’s too good to be true, it probably is. Quick fixes to your health are almost never the answer. Instead, nutrient-dense foods, movement, and overall balance in your lifestyle form the recipe for your ultimate success and wellbeing.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Still Plan for Fun</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Don’t go from one hundred to zero. Find time for fun after the holidays as dark January days roll in. Social activities and going on adventures can help you make it through the long winter.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Think and Evaluate</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Many people make New Year’s resolutions this time of year, or set their intentions for the year ahead. Take a look at where you are in all areas of your life and make note of where you want to be. In December, you can reflect on your progress and set new goals for 2024.</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.yourweightmatters.org/tips-for-getting-back-to-normal-after-the-holidays/\">click here.</a></p>\n<!-- /wp:paragraph -->','Tips for Getting Back to Normal After the Holidays','','inherit','closed','closed','','3711-revision-v1','','','2023-12-19 23:36:04','2023-12-19 23:36:04','',3711,'https://smartinsurance.tips/?p=3713',0,'revision','',0),(3714,1,'2023-12-19 23:45:01','2023-12-19 23:45:01','<!-- wp:paragraph -->\n<p>Learn how to get your premiums as low as possible.</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\":3715,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-17-1024x1024.png\" alt=\"\" class=\"wp-image-3715\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Like many Americans, you’ve probably watched your car insurance premiums go up hundreds of dollars over the last two years. Even as inflation has cooled, insurance prices have remained high due to more crashes, increased litigation, and higher repair costs. Nationwide, the average premium increase was nearly 18 percent, according to the Federal Bureau of Labor Statistics. But some states have felt even more pain, with rates up 88 percent in Florida and around 50 percent in Colorado, Nevada, and New York since 2018, according to FINN, a car subscription service company that analyzes market data.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>How can you lower your premiums? For starters, switch insurance companies. According to CR’s 2022 national survey of 11,509 drivers, consumers who took their business to another company not only saved money on car insurance but also reported higher satisfaction levels with their new insurer. Even so, 55 percent of drivers stay with the same insurer for six years or longer, missing out on those advantages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>CR recommends shopping for better rates from competing insurers every year or so and, at the same time, reviewing your policy to see how changes in your life may affect your insurance needs. Those changes might include moving to a new town or state, getting a new job, or entering retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"If you haven’t given your insurance a hard look in a while, you could be paying too much, not have enough coverage, or both,\" says Chuck Bell, Consumer Reports’ programs director for advocacy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We’ll tell you which life events might cause your insurance needs to change, as well as how you can get the lowest rates possible with the top insurers from CR’s 2022 member survey.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Increase Your Deductible</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:&nbsp;</strong>$400 to $500 a year</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This timeless insurance advice saves you money because you’re increasing your potential out-of-pocket cost for repairs after a crash. Loretta Worters, vice president of media relations for the Insurance Information Institute, says that increasing your deductible from $500 to $1,000 can bring your annual premium down by 20 to 25 percent, on average. \"Just make sure you can afford to pay cash for repairs if you need to,\" Bell says. \"The average motorist doesn’t file a claim more than about once every couple of decades, so your likelihood of having to shell out for crash damage is actually pretty low.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Drop Collision and Comprehensive Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:</strong>&nbsp;About $1,000 a year</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Collision insurance covers you for damage to your car if you’re involved in a crash (or if you’re the victim of a hit-and-run), and comprehensive covers damage caused by acts of nature—such as storm damage—vandalism, theft, fire, and more. As the years and miles pile up on your car, its value will decrease. Eventually, that lowered value may no longer justify the expense of paying for collision and comprehensive coverage. \"As a general rule, when the premium is more than 10 percent of the car’s value, it’s time to consider dropping collision, and maybe comprehensive, too,\" Bell says. You may want to keep comprehensive a bit longer because it includes glass coverage, which is always nice to have if a rock hits your windshield and cracks it. But if you’re scaling back to liability-only coverage, make sure you have enough to protect yourself from having to pay out of pocket for someone’s property damage and medical expenses if you’re found at fault in a crash. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Take a Defensive Driving Course</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:</strong>&nbsp;$200 a year</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Some insurance companies will allow you to take a safe-driving course to get a discount, although you’ll have to take it again every few years to keep the discount active. In New York, for example, where insurance can cost more than $3,000 per year, motorists can receive a 10 percent discount after taking a state-approved defensive driving course. (The course costs about $25, takes 5 hours and 20 minutes to complete, and can be repeated every three years.) Many other states have similar programs, although prices vary widely. In Virginia, where the average cost of insurance is less than $1,500 per year, the course takes 8 hours and can cost as little as $25.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">If You Drive Under 10,000 Miles a Year, Report Your Mileage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:</strong>&nbsp;About $100 a year</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Most insurance companies include annual mileage in their pricing methodology, and lowering your miles can save you money,\" Heller says. For instance, if you’re driving less because of a change in your job location, you may qualify for a lower premium, especially if you’re driving less than 10,000 miles in a year. \"Some companies offer verified mileage programs where you can get even more savings by reporting your odometer reading on a regular basis.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Bundle Your Auto Coverage With Your Homeowners Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:&nbsp;</strong>$300 a year</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Douglas Heller, director of insurance with the Consumer Federation of America, says that some companies offer discounts on annual premiums when you purchase both your home and auto policies from them. But he points out that every person’s situation is different, and while one person might save money by bundling two types of insurance, another person might save money by buying each policy from a different company. The bottom line: Bundling is worth looking into, but it’s not a one-size-fits-all way to save on your premiums.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Pay Out of Pocket for a One-Car Fender Bender</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:</strong>&nbsp;$300 or more (depending on your driving record)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you’re involved in a crash with another vehicle that results in property damage, many states require that you submit an accident report (and you must report an accident with injuries or death to the police). But for minor damage that doesn’t involve another driver—such as scraping your bumper on a support column in a parking garage—paying out of pocket and not filing a claim could prevent a potential rate increase. Keep in mind, though, that what seems like minor damage to a car equipped with safety features such as automatic emergency braking and blind spot warning could be far more expensive to repair than you think. So make sure you get a repair estimate before you decide to shoulder the financial burden on your own.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Get an Independent Insurance Agent</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:</strong>&nbsp;Hundreds of dollars</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To make comparing coverage and premiums from several insurance companies easier, consult an independent agent. Unlike an agent who represents a single company, an independent agent represents a number of insurance companies, including some that may not be on your radar and could offer the best deal, Heller says. (Insurance brokers are also independent, but he says they’re more appropriate for businesses than for individual customers.)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Consider a Dividend Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:</strong>&nbsp;$100 or more</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Dividend policies may have higher premiums, but because policyholders own a stake in the company’s investments, they can get money back in the form of dividend payments. \"Dividend policies can help reduce the overall cost of coverage, and may help you save even more when both your auto and home are covered by the same mutual insurance company,\" CR’s Bell says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Sign Up for Driver Monitoring</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:&nbsp;</strong>$800</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Some insurance companies offer a discount if you allow them to monitor your driving habits with a smartphone app or a device that plugs into your car’s diagnostic port. There’s a potential for huge savings, but you have to be okay with giving up a certain amount of privacy, allowing your insurer to track your every move in much the same way that you do when using certain smartphone apps. If driver monitoring is available in your state and offered by your insurance company, Bell suggests doing some fact-finding before deciding whether it’s right for you. Start by asking your insurer what data it will use to calculate a discount, whether any negative driving behavior has the potential to actually increase your rate, and how all the data collected can and will be used. \"Ask your insurer if they will sell or share your data with other companies before you agree to one of these programs,\" he says. \"And if you tend to drive more at night because of work or some other reason, make sure you won’t get dinged for it.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Liability Coverage Is Enough?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Insurance companies can offer several types of coverage to protect you financially when you’re involved in a crash. But the most important is liability coverage, which pays for costs related to the injury or death of passengers in another car as well as any damage to other vehicles and property if it’s determined that you were at fault in a crash. (Liability coverage also covers passengers in your car.)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Almost every state requires liability coverage. In Virginia, for example, the minimum coverage required by law is $30,000 per person and $60,000 per incident for bodily injury or death of two or more people, and $20,000 for property damage. (This is usually stated on an insurance policy as $30,000/$60,000/$20,000 or simply 30/60/20.) Experts say most state minimum coverage requirements are woefully inadequate. Douglas Heller, an insurance expert, cites as an example a driver covered only by Virginia’s minimum requirement who causes a crash in which three people have $50,000 in medical bills per person. The driver’s insurer would cover $20,000 of each injured person’s medical bills, leaving the driver responsible for any outstanding bills—in this example, $90,000.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>How much coverage is enough? Loretta Worters of the Insurance Information Institute recommends a minimum liability coverage of $100,000/$300,000 /$100,000. For more protection, experts recommend purchasing an umbrella insurance policy on top of higher-limit liability coverage. An umbrella policy added to a homeowners policy extends liability protection to $1 million or more, and depending on the insurer, fills whatever gaps may have been left by auto and homeowner policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You can usually buy an umbrella policy only from a company that you’ve already purchased insurance from. Prices vary depending on what types of coverage you already have—car, home, boat, business, etc. You also need to know how high your basic liability insurance needs to be, and if your insurer requires bundling all of your policies to get the umbrella policy. Worters says a $1 million umbrella policy typically adds $250 to $300 to your annual premiums.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>There’s also coverage that pays for damage caused by uninsured and underinsured motorists, as well as personal injury protection or medical payment coverage, which covers your own injuries if the other driver has inadequate coverage or none at all. Worters says these are always good to have.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Life Events That Can Affect Your Car Insurance Rates</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Getting Married or Divorced</strong><br>Adding a driver to a policy can increase premiums, but if that person has a clean driving record, your rates shouldn’t change much. Adding someone with a history of filing claims or with moving violations on their record, on the other hand, can increase your rate, whereas removing that person can result in significant savings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Changing Jobs<br></strong>You could pay a lower premium if your new commuting distance is shorter or if you’re now working from home. You can generally save $100 on premiums if you drive less than 10,000 miles per year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Moving to a New Area<br></strong>Insurance rates are highly dependent upon where you live. According to quotes from USAA, a move from suburban Scottsdale, Ariz., to urban Phoenix would raise your annual premiums by about $240. Your premium could drop if you move from a city to a more sparsely populated area. And if you move to an area with a high probability of severe weather events (hurricanes or floods), you’re likely to see your premiums rise.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Adding a Teen Driver<br></strong>Drivers between the ages of 16 and 17 are more likely to be involved in a crash than any other group. Adding a teen driver to your insurance policy can increase it a staggering $1,000 to $2,000 a year or more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">If You\'re Over 70, Read This</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Car insurance premiums tend to decrease as you age.</strong>&nbsp;But that can change once you reach your 70s, which is when crash rates begin to slowly tick up, according to the Insurance Institute for Highway Safety (IIHS). Based on average annual insurance costs from Bankrate, a consumer financial services company, premiums for 70-year-old drivers are about 8 percent higher than for drivers who are 60 years old.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"If you’re an older driver who hasn’t been in a crash and your rates go up sharply, consider changing insurers,\" says Chuck Bell, CR’s programs director for advocacy. \"You can ask your existing company to provide a more competitive quote, but be prepared to vote with your feet if you don’t like its answer.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Bell says that some insurers, including Geico and The Hartford, offer preferential rates for older drivers. \"Just like drivers in other age groups, aging motorists can save money on insurance by reassessing their needs and switching carriers if they can get a better deal,\" he says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Upgrade to a car with advanced safety systems.&nbsp;</strong>Cars with active safety equipment like automatic emergency braking (AEB) and strong crash-test ratings are good for everyone, but especially for older drivers. That’s because those drivers are more likely than other motorists to suffer from serious injuries if they’re in a crash, the National Highway Traffic Safety Administration says. And according to two IIHS studies, they tend to drive older vehicles that lack lifesaving features such as blind spot monitoring, side or curtain airbags, forward collision warning, or automatic emergency braking.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Take a driver education course. </strong>Classes for mature drivers could reduce your risk of an accident or injury and related expenses. Groups like AAA offer programs to help older motorists with declining hearing, eyesight, flexibility, and other issues that can impair driving ability adapt their habits and sharpen their skills. AARP, for example, offers a discount on these courses to members.</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/money/car-insurance/how-to-save-big-on-your-car-insurance-a5155263103/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Save Big on Your Car Insurance','','publish','closed','closed','','how-to-save-big-on-your-car-insurance','','','2023-12-19 23:45:01','2023-12-19 23:45:01','',0,'https://smartinsurance.tips/?p=3714',0,'post','',0),(3715,1,'2023-12-19 23:40:41','2023-12-19 23:40:41','','Untitled-17','','inherit','closed','closed','','untitled-17-2','','','2023-12-19 23:40:41','2023-12-19 23:40:41','',3714,'http://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-17.png',0,'attachment','image/png',0),(3716,1,'2023-12-19 23:45:01','2023-12-19 23:45:01','<!-- wp:paragraph -->\n<p>Learn how to get your premiums as low as possible.</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\":3715,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-17-1024x1024.png\" alt=\"\" class=\"wp-image-3715\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>Like many Americans, you’ve probably watched your car insurance premiums go up hundreds of dollars over the last two years. Even as inflation has cooled, insurance prices have remained high due to more crashes, increased litigation, and higher repair costs. Nationwide, the average premium increase was nearly 18 percent, according to the Federal Bureau of Labor Statistics. But some states have felt even more pain, with rates up 88 percent in Florida and around 50 percent in Colorado, Nevada, and New York since 2018, according to FINN, a car subscription service company that analyzes market data.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>How can you lower your premiums? For starters, switch insurance companies. According to CR’s 2022 national survey of 11,509 drivers, consumers who took their business to another company not only saved money on car insurance but also reported higher satisfaction levels with their new insurer. Even so, 55 percent of drivers stay with the same insurer for six years or longer, missing out on those advantages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>CR recommends shopping for better rates from competing insurers every year or so and, at the same time, reviewing your policy to see how changes in your life may affect your insurance needs. Those changes might include moving to a new town or state, getting a new job, or entering retirement.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"If you haven’t given your insurance a hard look in a while, you could be paying too much, not have enough coverage, or both,\" says Chuck Bell, Consumer Reports’ programs director for advocacy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>We’ll tell you which life events might cause your insurance needs to change, as well as how you can get the lowest rates possible with the top insurers from CR’s 2022 member survey.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Increase Your Deductible</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:&nbsp;</strong>$400 to $500 a year</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>This timeless insurance advice saves you money because you’re increasing your potential out-of-pocket cost for repairs after a crash. Loretta Worters, vice president of media relations for the Insurance Information Institute, says that increasing your deductible from $500 to $1,000 can bring your annual premium down by 20 to 25 percent, on average. \"Just make sure you can afford to pay cash for repairs if you need to,\" Bell says. \"The average motorist doesn’t file a claim more than about once every couple of decades, so your likelihood of having to shell out for crash damage is actually pretty low.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Drop Collision and Comprehensive Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:</strong>&nbsp;About $1,000 a year</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Collision insurance covers you for damage to your car if you’re involved in a crash (or if you’re the victim of a hit-and-run), and comprehensive covers damage caused by acts of nature—such as storm damage—vandalism, theft, fire, and more. As the years and miles pile up on your car, its value will decrease. Eventually, that lowered value may no longer justify the expense of paying for collision and comprehensive coverage. \"As a general rule, when the premium is more than 10 percent of the car’s value, it’s time to consider dropping collision, and maybe comprehensive, too,\" Bell says. You may want to keep comprehensive a bit longer because it includes glass coverage, which is always nice to have if a rock hits your windshield and cracks it. But if you’re scaling back to liability-only coverage, make sure you have enough to protect yourself from having to pay out of pocket for someone’s property damage and medical expenses if you’re found at fault in a crash. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Take a Defensive Driving Course</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:</strong>&nbsp;$200 a year</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Some insurance companies will allow you to take a safe-driving course to get a discount, although you’ll have to take it again every few years to keep the discount active. In New York, for example, where insurance can cost more than $3,000 per year, motorists can receive a 10 percent discount after taking a state-approved defensive driving course. (The course costs about $25, takes 5 hours and 20 minutes to complete, and can be repeated every three years.) Many other states have similar programs, although prices vary widely. In Virginia, where the average cost of insurance is less than $1,500 per year, the course takes 8 hours and can cost as little as $25.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">If You Drive Under 10,000 Miles a Year, Report Your Mileage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:</strong>&nbsp;About $100 a year</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"Most insurance companies include annual mileage in their pricing methodology, and lowering your miles can save you money,\" Heller says. For instance, if you’re driving less because of a change in your job location, you may qualify for a lower premium, especially if you’re driving less than 10,000 miles in a year. \"Some companies offer verified mileage programs where you can get even more savings by reporting your odometer reading on a regular basis.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Bundle Your Auto Coverage With Your Homeowners Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:&nbsp;</strong>$300 a year</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Douglas Heller, director of insurance with the Consumer Federation of America, says that some companies offer discounts on annual premiums when you purchase both your home and auto policies from them. But he points out that every person’s situation is different, and while one person might save money by bundling two types of insurance, another person might save money by buying each policy from a different company. The bottom line: Bundling is worth looking into, but it’s not a one-size-fits-all way to save on your premiums.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Pay Out of Pocket for a One-Car Fender Bender</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:</strong>&nbsp;$300 or more (depending on your driving record)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you’re involved in a crash with another vehicle that results in property damage, many states require that you submit an accident report (and you must report an accident with injuries or death to the police). But for minor damage that doesn’t involve another driver—such as scraping your bumper on a support column in a parking garage—paying out of pocket and not filing a claim could prevent a potential rate increase. Keep in mind, though, that what seems like minor damage to a car equipped with safety features such as automatic emergency braking and blind spot warning could be far more expensive to repair than you think. So make sure you get a repair estimate before you decide to shoulder the financial burden on your own.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Get an Independent Insurance Agent</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:</strong>&nbsp;Hundreds of dollars</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To make comparing coverage and premiums from several insurance companies easier, consult an independent agent. Unlike an agent who represents a single company, an independent agent represents a number of insurance companies, including some that may not be on your radar and could offer the best deal, Heller says. (Insurance brokers are also independent, but he says they’re more appropriate for businesses than for individual customers.)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Consider a Dividend Policy</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:</strong>&nbsp;$100 or more</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Dividend policies may have higher premiums, but because policyholders own a stake in the company’s investments, they can get money back in the form of dividend payments. \"Dividend policies can help reduce the overall cost of coverage, and may help you save even more when both your auto and home are covered by the same mutual insurance company,\" CR’s Bell says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Sign Up for Driver Monitoring</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>How much you can save:&nbsp;</strong>$800</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Some insurance companies offer a discount if you allow them to monitor your driving habits with a smartphone app or a device that plugs into your car’s diagnostic port. There’s a potential for huge savings, but you have to be okay with giving up a certain amount of privacy, allowing your insurer to track your every move in much the same way that you do when using certain smartphone apps. If driver monitoring is available in your state and offered by your insurance company, Bell suggests doing some fact-finding before deciding whether it’s right for you. Start by asking your insurer what data it will use to calculate a discount, whether any negative driving behavior has the potential to actually increase your rate, and how all the data collected can and will be used. \"Ask your insurer if they will sell or share your data with other companies before you agree to one of these programs,\" he says. \"And if you tend to drive more at night because of work or some other reason, make sure you won’t get dinged for it.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">How Much Liability Coverage Is Enough?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Insurance companies can offer several types of coverage to protect you financially when you’re involved in a crash. But the most important is liability coverage, which pays for costs related to the injury or death of passengers in another car as well as any damage to other vehicles and property if it’s determined that you were at fault in a crash. (Liability coverage also covers passengers in your car.)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Almost every state requires liability coverage. In Virginia, for example, the minimum coverage required by law is $30,000 per person and $60,000 per incident for bodily injury or death of two or more people, and $20,000 for property damage. (This is usually stated on an insurance policy as $30,000/$60,000/$20,000 or simply 30/60/20.) Experts say most state minimum coverage requirements are woefully inadequate. Douglas Heller, an insurance expert, cites as an example a driver covered only by Virginia’s minimum requirement who causes a crash in which three people have $50,000 in medical bills per person. The driver’s insurer would cover $20,000 of each injured person’s medical bills, leaving the driver responsible for any outstanding bills—in this example, $90,000.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>How much coverage is enough? Loretta Worters of the Insurance Information Institute recommends a minimum liability coverage of $100,000/$300,000 /$100,000. For more protection, experts recommend purchasing an umbrella insurance policy on top of higher-limit liability coverage. An umbrella policy added to a homeowners policy extends liability protection to $1 million or more, and depending on the insurer, fills whatever gaps may have been left by auto and homeowner policies.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You can usually buy an umbrella policy only from a company that you’ve already purchased insurance from. Prices vary depending on what types of coverage you already have—car, home, boat, business, etc. You also need to know how high your basic liability insurance needs to be, and if your insurer requires bundling all of your policies to get the umbrella policy. Worters says a $1 million umbrella policy typically adds $250 to $300 to your annual premiums.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>There’s also coverage that pays for damage caused by uninsured and underinsured motorists, as well as personal injury protection or medical payment coverage, which covers your own injuries if the other driver has inadequate coverage or none at all. Worters says these are always good to have.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Life Events That Can Affect Your Car Insurance Rates</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Getting Married or Divorced</strong><br>Adding a driver to a policy can increase premiums, but if that person has a clean driving record, your rates shouldn’t change much. Adding someone with a history of filing claims or with moving violations on their record, on the other hand, can increase your rate, whereas removing that person can result in significant savings.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Changing Jobs<br></strong>You could pay a lower premium if your new commuting distance is shorter or if you’re now working from home. You can generally save $100 on premiums if you drive less than 10,000 miles per year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Moving to a New Area<br></strong>Insurance rates are highly dependent upon where you live. According to quotes from USAA, a move from suburban Scottsdale, Ariz., to urban Phoenix would raise your annual premiums by about $240. Your premium could drop if you move from a city to a more sparsely populated area. And if you move to an area with a high probability of severe weather events (hurricanes or floods), you’re likely to see your premiums rise.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Adding a Teen Driver<br></strong>Drivers between the ages of 16 and 17 are more likely to be involved in a crash than any other group. Adding a teen driver to your insurance policy can increase it a staggering $1,000 to $2,000 a year or more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">If You\'re Over 70, Read This</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Car insurance premiums tend to decrease as you age.</strong>&nbsp;But that can change once you reach your 70s, which is when crash rates begin to slowly tick up, according to the Insurance Institute for Highway Safety (IIHS). Based on average annual insurance costs from Bankrate, a consumer financial services company, premiums for 70-year-old drivers are about 8 percent higher than for drivers who are 60 years old.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\"If you’re an older driver who hasn’t been in a crash and your rates go up sharply, consider changing insurers,\" says Chuck Bell, CR’s programs director for advocacy. \"You can ask your existing company to provide a more competitive quote, but be prepared to vote with your feet if you don’t like its answer.\"</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Bell says that some insurers, including Geico and The Hartford, offer preferential rates for older drivers. \"Just like drivers in other age groups, aging motorists can save money on insurance by reassessing their needs and switching carriers if they can get a better deal,\" he says.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Upgrade to a car with advanced safety systems.&nbsp;</strong>Cars with active safety equipment like automatic emergency braking (AEB) and strong crash-test ratings are good for everyone, but especially for older drivers. That’s because those drivers are more likely than other motorists to suffer from serious injuries if they’re in a crash, the National Highway Traffic Safety Administration says. And according to two IIHS studies, they tend to drive older vehicles that lack lifesaving features such as blind spot monitoring, side or curtain airbags, forward collision warning, or automatic emergency braking.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Take a driver education course. </strong>Classes for mature drivers could reduce your risk of an accident or injury and related expenses. Groups like AAA offer programs to help older motorists with declining hearing, eyesight, flexibility, and other issues that can impair driving ability adapt their habits and sharpen their skills. AARP, for example, offers a discount on these courses to members.</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/money/car-insurance/how-to-save-big-on-your-car-insurance-a5155263103/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Save Big on Your Car Insurance','','inherit','closed','closed','','3714-revision-v1','','','2023-12-19 23:45:01','2023-12-19 23:45:01','',3714,'https://smartinsurance.tips/?p=3716',0,'revision','',0),(3717,1,'2023-12-20 00:24:35','2023-12-20 00:24:35','<!-- wp:paragraph -->\n<p>Blame natural disasters, the pandemic, and your location. These tips will help you whittle down rising premiums.</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\":3718,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"https://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-18-1024x1024.png\" alt=\"\" class=\"wp-image-3718\"/></figure>\n<!-- /wp:image --></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph -->\n<p>You don’t have to live in a disaster-prone place for your homeowners insurance bill to make you feel like disaster has struck. Homeowners insurance premiums are expected to rise significantly this year throughout the U.S.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>On average, homeowners can expect to see their bills climb 7.1 percent in 2023, according to the business analytics firm S&amp;P Global Market Intelligence. That follows an even bigger jump of 12.6 percent last year, nearly double the overall inflation rate. Historically, homeowners insurance bills have risen only about 5 percent a year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>What’s behind these scary numbers? Read on for answers—and for solutions to help you save money. And if you’re shopping for coverage, check Consumer Reports’ Homeowners Insurance Buying Guide. CR members can consult our exclusive survey-based homeowners insurance ratings for the best companies across the U.S.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Blame the Weather</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Insurance experts generally agree that two major forces have pushed insurance premiums skyward. “Broadly, it’s inflation and climate change,” says Tim Zawacki, lead insurance analyst at S&amp;P Global.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>There have been more very destructive weather events, including Hurricane Ida in 2021 and Ian in 2022, causing billions of dollars of damage to insured properties. In fact, the years 2019 through 2022 were the most costly three years for insurers ever, according to the American Property and Casualty Insurance Association (APCIA). The industry has responded by passing costs on to policyholders in affected states.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Florida homeowners, many of them still reeling from Ian—and from earlier premium price spikes—can expect premium increases of 40 percent [PDF] in 2023, the Insurance Information Institute, an industry group, projects. In Louisiana, still recovering from Ida, policyholders in the pricey high-risk insurance pool will see premiums swell by an average of 63 percent when they renew this year. Those unlucky folks represent a tenth of all the state’s insured homeowners.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>“But it’s not just hurricanes that have had an impact,” says Karen Collins, a vice president at APCIA. “It’s storm events like tornadoes and hail, and also wildfires.” In 2022 residents of Colorado, for instance, which has suffered from mudslides and wildfires, got jolted by a 16.7 percent premium increase, on average, not far behind windstorm-prone Louisiana (27.6 percent), South Carolina (19.7 percent), and Florida (19 percent).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Building Inflation Hits Hard</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Higher construction costs have a big impact on what homeowners will see in their policy renewal letters this year. When material and labor expenses go up, so do premiums. Between 2020 and 2022, pandemic supply-chain kinks, coupled with heavy demand, boosted the price of residential construction materials by 33.9 percent, according to the Bureau of Labor Statistics. Workers also became harder to find, forcing builders to raise wages. Though prices have dropped for some materials—like lumber—that inflation hasn’t completely abated.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Demographic shifts can also play a role. South Carolina’s 19.7 percent jump last year was partly due to its growing population, which ratcheted up demand for new homes, Zawacki says. “Local costs for labor and materials are factored into the replacement cost formula, which drives premiums.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">What You Can Do to Save on Homeowners Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>If you want to hunt down the best value for your insurance dollar, comparison shopping is a good way to start. Companies don’t judge you and your property identically, so you may get a more favorable price from one company than from another. Just make sure you’re comparing coverage apples to apples.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you’re worried about losing your standing as a longtime customer, you don’t necessarily need to be. While your current insurer may provide a 5 or 10 percent loyalty discount, staying put may also be sending it the message that overall price hikes won’t send you running to a competitor. Just 13 percent of Consumer Reports members in a recent survey said they regularly shop for new coverage. But among the 7,075 who did switch to a new carrier within the five-year period covered by our survey, 39 percent said they did so because they got a better price.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Keep in mind that in this inflationary period, it’s key to establish the right replacement cost for your home so you’ll be covered in the event it gets destroyed. For that reason, Zawacki favors using a local, independent agent or broker who sells policies from several insurance companies vs. an online vendor. These professionals can go over how the different companies have determined the replacement cost of your home, and they also may recommend policy add-ons that can help your coverage keep up with inflation. (Find an agent through Trusted Choice, which is affiliated with numerous such companies.) </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>If you’d rather hunt for coverage online, consider websites such as Insure.com, NetQuote, SelectQuote, and TheZebra, which provide initial quotes from a variety of insurers. Also check with your state insurance department, which may publish rate comparisons. Floridians, for instance, can go to Florida’s Office of Insurance Regulation; Californians, to the California Department of Insurance. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>CR members can consult Consumer Reports homeowners insurance ratings to identify companies that best satisfied the 59,670 members who responded to our survey. We judge carriers on price, breadth of coverage, non-claims customer service, and other factors. We also rate them on claims handling, including how satisfied members are with the dollar amount they receive.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Use These Other Money-Saving Tactics</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The first quote you get from an insurer may not be what you ultimately pay, says Collins of the APCIA. “You may start out with a higher quote,” she says, “but when you show the steps you’ve taken to mitigate risks, it can moderate the cost.”</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>These strategies can help:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Bundle coverage.</strong>&nbsp;Purchasing your homeowners and auto coverage from the same company can provide savings of up to 30 percent overall. You could save more, too, if you bundle your boat or motorcycle. “Bundling insurance policies also can simplify your bill paying and record-keeping,” says Loretta Worters, a spokesperson for the Insurance Information Institute.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Ke<strong>ep your deductible high.&nbsp;</strong>Higher deductibles equal lower premiums. Going to a $1,000 deductible from $500, for instance, can shave your premium by 25 percent, the III says. And going from $500 to $2,500 potentially saves even more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Clean up your credit.</strong> Insurers in 46 states can use what’s called a credit-based insurance score in their pricing of homeowners insurance premiums. They can also check your score regularly and use it in their renewal pricing. An analysis by PolicyGenius found that poor credit can generate a premium twice as high as good credit. To improve your odds, don’t take on too much credit card debt in the months before shopping, and pay your bills on time. Check your credit reports with annualcreditreport.com regularly to identify errors and correct them. And ask the insurer what impact your credit score is having on your premium. “In theory, the insurer should tell you the source of the score—Lexis-Nexis, Experian, for instance—so you can review it,” says Chuck Bell, programs director for advocacy at Consumer Reports. (CR has argued against the use of credit in insurance pricing, and using credit scores for homeowners pricing isn’t allowed in California, Maryland, Massachusetts, or Michigan.)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Landscape with fire in mind.&nbsp;</strong>Cutting back dry brush around dwellings and outbuildings in a fire-prone area can earn you a 5 percent break on your premium. (Worters says it’s rare to see this discount in wildfire-prone California.)</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">When You’re Ready for Home Improvements, Consider These</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You may not want to do major work on your home just to save a few hundred dollars on homeowners coverage. But if you’re prepared to do so, here are places to start.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Add or replace home systems. </strong>Replacing old plumbing and adding a home security system and gas- or water-leak detectors can lead to insurance savings of 2 to 6 percent or more.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Upgrade the roof.</strong> This part of your house is often where problems start, from water leaks to fires from wind-borne embers. So some insurers add a surcharge of 10 to 15 percent for older roofs. (A PolicyGenius analysis found major insurers charging from 12 to 40 percent more for a 20-year-old roof vs. a new one.) Check CR’s ratings of asphalt roofing shingles if you’re ready to replace your roof. And in a hurricane- or tornado-prone area, go to fortifiedhome.org to learn how to install an impact-resistant roof system that could be eligible for a 35 percent discount from some insurers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>In Florida, you may have no choice but to upgrade your roof, by the way. Some insurers won’t cover roof damage unless the roof is newer than 10 or 15 years old, says Melanie Musson. “In that scenario, residents may not end up paying wildly inflated premiums, but they’re getting less coverage for their money,” she explains.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 class=\"wp-block-heading\">Mind How Your Behavior Affects Your Premium</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p><strong>Pick your pets and pursuits wisely. </strong>You may love the cuteness of that Doberman puppy, but owning one could cost you more in premiums than, say, a shih tzu. Some insurers maintain that the risk of dog bites—and liability lawsuits—is greater with certain dog breeds, and they may set a surcharge or deny coverage. (Showing the carrier that your dog has passed the American Kennel Club’s Canine Good Citizen training may help you avoid an insurance surcharge.) Likewise, trampolines, pools, and other fun toys are accidents waiting to happen in insurers’ eyes. And reporting that you’re a smoker suggests you’re a fire risk. While not divulging these items can help you avoid surcharges, your insurer could drop you if it learns of them later, say, after you or someone who’s been injured files a claim. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>Be cautious about how often you make a claim. </strong>Filing one every five years shouldn’t raise a red flag with your carrier and trigger a premium increase, Worters says. But more than that is pushing it. “Making three claims in two years, for instance, shows you have a proclivity for claims,” Worters says. That could raise your rates or influence your carrier not to renew your 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.consumerreports.org/money/homeowners-insurance/why-home-insurance-costs-so-much-and-how-to-pay-less-a6189826846/?itm_source=parsely-api\">click here.</a></p>\n<!-- /wp:paragraph -->','Why Home Insurance Costs So Much—and How to Pay Less','','publish','closed','closed','','why-home-insurance-costs-so-much-and-how-to-pay-less','','','2023-12-20 00:24:35','2023-12-20 00:24:35','',0,'https://smartinsurance.tips/?p=3717',0,'post','',0),(3718,1,'2023-12-20 00:21:53','2023-12-20 00:21:53','','Untitled-18','','inherit','closed','closed','','untitled-18-2','','','2023-12-20 00:21:53','2023-12-20 00:21:53','',3717,'http://smartinsurance.tips/wp-content/uploads/2023/12/Untitled-18.png',0,'attachment','image/png',0),