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author: Insurance by Allied Brokers

website: www.alliedbrokers.com/

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What is Loss of Use Coverage?

Camp Fire in Northern California and the Woolsey Fire in the southern part have been the most devastating the state has ever seen. While the loss of life is tragic, the plight of those who survived, but lost their homes to the flames should not be forgotten. Most of them will be looking towards their homeowner’s insurance policies to help them rebuild their homes and their lives.  Many of them may be in for a rude shock: they may find disturbing things.

Rebuilding cost is not enough

Most homeowners plan on their coverage based on the cost of rebuilding their homes or repairing them if they are lucky enough not to have lost them completely. What they do not take into account is the time it will take to have a home to live in again. It could be months, or even years.

Where will the family live until then? How much will it cost? Can they afford to pay rent for such a long period? There will be many other expenses not covered by insurance after wildfires end.

That it could be a year

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How much Auto Insurance do you need?

It is universally true that people never ever consider themselves bad drivers, even if they are so at times. If a car accident occurs, it is always the other person’s fault! California is an at-fault state, which means that the insurance company of the person who has caused the accident is responsible for paying not only the repair costs, but also the medical costs incurred.

Car-owning Californians presume mistakenly that they need only the minimum auto insurance coverage. Even the best of drivers can and do make mistakes that cause accidents. In addition, there can be circumstances beyond anyone’s control, where no person is responsible for an accident.

Partial protection is never enough

In California, it is illegal to take a car on public roads without insurance coverage. There are very severe penalties for not having one. The minimum coverage limits are $15,000 per person and $30,000 per accident, which satisfies the legal requirements.

However, it is never going to be enough

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Residents of Santa Clara and San Mateo, Beware of Health Insurance Issues!

It is not healthy to worry needlessly about your health. However, ignoring the signs of potential health issues is even worse. Hypochondria are not a good thing – but health is, in many ways; it is just a matter of common sense and taking essential precautions. The same wisdom applies to the matter of health insurance.

The right health insurance coverage for your family is critically important. It requires your time and attention as well as expert advice. If you have already gone through the mill, that should be okay. Unfortunately, the word ‘should’ has to be used here.

That is because recent changes in health insurance policies and procedures could catch you unawares and affect adversely the handling of a possible future medical situation. Here is a case in point that could have major implications for those living in Santa Clara and San Mateo.

An unexpected ineligibility of coverage

In Santa Clara and San Mateo counties, Stanford is a major provider of healthcare services. It r

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Insuring a Teenage Driver

It’s a big deal when your teenager gets their first-time driving license. Amid all the celebration (and worry for the elders) about the newfound freedom, there are the financial implications to consider.

Besides the cost of buying another car, (if you want to give the teen their own vehicle), there are the additional gas bills and more importantly insurance costs to bear. Insurance is one area where it is easy to make wrong decisions. Here is a guide to getting the right auto insurance for your teenager at the right cost.

Add the teen to your existing policy

Generally speaking, it costs less to add your teen to your own auto insurance policy than to purchase a separate one for them. The better your own driving record is, and the safer and more reliable the car you drive is, the lower will be the premiums.

Additionally, the type of car the teen drives impacts the cost. If it is going to be like your own safer model or another similar one, the cost of coverage will be lower than if

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Who says you’re too old to buy Life Insurance?

The older you are, the costlier life insurance becomes. There is a reason for this. Life insurance companies need to limit their risks: the chances of paying out for a life insurance policy bought by a 65-year-old is greater than one taken out by a 35-year-old. The cost is a major factor that seniors need to consider when deciding on buying a life insurance policy, but it is not the only one.

Do seniors need life insurance?

You have had life insurance for most of your adult life. You bought the coverage so that those who depended on you financially would not suffer if you should die. Now you’re into your retirement years, your children are settled and independent and you have paid off your mortgage. In effect, you have no financial liabilities to worry about.

In such circumstances, do you need life insurance? As in many aspects of life, there is no clear-cut answer for this. What is clear is that deciding to forego life insurance is a major decision, at any age, and you need to co

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5 Insurance Pitfalls you must Avoid

The concept of insurance is simple: you pay a small regular premium; should the situations you are insured against arise, the payout from the policy will give you the finances you need to recover. However, there is a big difference between understanding a concept and putting it into practice the right way.

The terms and conditions of an insurance policy are indeed complex. There is every possibility of making mistakes in arriving at the amount of coverage you require. Consequently, you might get the wrong policy and you are left without the financial resources you need, when you require them the most. Here are listed for your benefit some of the most common mistakes that people make in matters of insurance.

Having no coverage

This is by no means confined to a small section of the population. If you don’t have coverage, you don’t have protection. The problem is there are so many things you need to protect yourself against. If you own a car, you need auto insurance; but you do not k

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Seemingly Rich, Probably Poor!

According to a recent report from the Department of Housing and Urban Development (HUD), a family living in the Bay Area with an annual income of $117,400 can be considered to be in the ’low income’ category. Those with an income of $73,300 are in the ‘very low income’ bracket. A study by the Brookings Institution says that those earning six figure salaries can be considered to be ’poor’. This is not surprising, given the wide variation in earning levels across the U.S.

A lot to feel blessed

Across the U.S., the median household income is $91,000 for a family of four. It is estimated that more than 40 million people in the country live on less than $25,100 a year, which places them below the poverty line. Between 2008 and 2016, salaries for full-time workers in metropolitan San Francisco rose by 26%, faster than any other part of the country. Dallas is in the second place with an increase of 14.4%. Those living in the Bay Area, therefore, have a lot to feel blessed.

 A lot to prot

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Buying Insurance: 5 Common Mistakes

Buying insurance can be confusing. Do you need it? How much do you need? Can you afford it? These are just a few of the questions that arise when you think of buying a policy. This confusion can often lead to mistakes that could leave you without the right coverage of your needs. Five common mistakes given below can help you avoid them when buying an insurance policy.

Do not assume it is expensive

According to the U.S. Census Bureau, about 30 percent of households do not have life insurance coverage and over 40 million Americans are without health insurance. The figures for other types of coverage too are high. The main reason for these alarming figures is that many consumers mistakenly think that the cost is unaffordable.

That is not really the case: doing some research will often reveal that the actual cost is lower than the cost presumed. While the premium itself may appear to be high, there are usually discounts available that will significantly reduce the cost. For example, i

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Insuring your Second Car

Say, you have bought for your own use a second car, or one for a teenager who is now driving, or a son who got married or moved in with a friend. It would make a lot of sense to add this second car to your existing auto insurance coverage, instead of having two separate policies. It’s easy and simple as well.

Most insurance companies limit the number of cars that can be included in one policy. This number varies from company to company, but it is typically 3 or 4. As long as you do not exceed the limit, you face no problems. Here is how to go about adding a car to your policy.

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Collecting vital information

Collect all the essential information about the new car. This includes name, model, year, license plate number and the Vehicle Identification Number (VIN). Ensure that all the information you have collected is completely accurate, because any errors in the data submitted could be cause enough for turning down a future claim.

Contacting the insurance company

Get in touch with yo

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A Home Insurance Renewal Checklist

What do you do when you get your homeowner's insurance renewal notice? Do you switch over to autopilot and send off the payment asked for without even looking at your coverage? If you say ‘yes’, yours is not an isolated case: it’s exactly what most people do! This is because what was good enough last year, the year before and for many preceding years, must be good enough for now, they think!

Unfortunately, that is often a very wrong assumption. The value of your home along with all your possessions must have grown over the years. The coverage you had opted for a couple or more of years ago may not be enough today to give you the protection you need.

The renewal notice should be treated as an opportunity to take stock, and fine-tune your coverage to meet your current needs. This does not always mean ‘pay more’. Here are four questions you have to ask when a renewal is due.

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Are you eligible for discounts?

You could be eligible for a discount on your policy if you had recently paid

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