Tag Archive | "Insurance"

REVIEW: Money Magazine’s 7 Secrets to a Richer Retirement

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REVIEW: Money Magazine’s 7 Secrets to a Richer Retirement


Over the weekend, I came across the October 2010 copy of Money magazine that apparently I had stashed away. The lead article in this issue is titled 7 Secrets to a Richer Retirement. After reading through the article, I thought it would be worth reviewing and sharing some of the valuable points.

Retirement

#1 “Get a good picture of the future you”

According to research, our brains are not programmed to identify with our future selves. For that reason, we have a hard time trading rewards today for rewards in the future. That single character trait is often the biggest hurdle to preparing for retirement. Socking money away means that today’s you can’t have something. But if the future you is a stranger, then it is difficult to trade something you want so that a stranger can have something years from now.

So what you need to  do is get to know your future self. Here are two ideas from Money’s article:

  1. Write down what your life will be like when you retire. Where will you live? How many kids and grandkids will you have? How will you spend your time? What car will you drive? How big is your house? Is it paid off?
  2. Consider one of your grandparents of the same sex. Use him or her as a proxy for yourself. See what his or her life is like and what you potentially are facing as you age.

My Review: Self-visualization can be a powerful motivator, but don’t stop here

#2 “Try to beat the other guy”

We are all at least a little competitive. Money recommends putting that to good use and apparently some research says it helps. Basically, if we find that we are lagging behind our peers when stacked up side by side, then some primal need kicks in and we make positive change.

ING actually launched a site where you can see how you compare. Statistics show that more than 20% of the people who spend time on the site make improvements. So maybe you should check out INGCompareMe.com.

My Review: Can be helpful in helping you to get motivated, but don’t spend too much time playing online staring at what everyone else is doing

#3 “Use reminders and checklists”

One of my favorite moments in the Disney movie Up is when the dogs are easily distracted by squirrels. We humans are prone to easy distractions as well, especially since preparing for retirement can be a 40 year process. So creating reminders and checklists can help you stay focused.

One great tip from the article is to create email alerts for yourself, though be specific. For example, send yourself an alert that says, “Put $2000 in Roth IRA by June 1,” or “Add $1000 to emergency fund by Sept 1.”

My Review: One of the easiest tips to implement and it can really pay off

#4 “Think bite-size pieces, not whole enchilada”

MetLife in 2008 released a Retirement Income IQ Test that indicated that most people overestimate how long their savings will last. In fact, “experts advice retirees to start withdrawing no more than 4% of their money each year to keep from running out – but 69% of people think they can take more. (quote from Money article)”

Apparently the problem is that we are all trained to think about our retirement fund as one large lump of money when we should actually think about our retirement needs in terms of what we will need each month. Tools like T. Rowe Price’s Retirement Income Calculator can help you estimate your monthly income in retirement. Compare that number to what you you want to have and you’ll have a better idea whether or not you are on track.

My Review: I absolutely agree that you need to consider your monthly income in retirement rather than just a single pile of cash in the bank

#5 “Make friends with an annuity”

If you’ve read any of my prior posts on life insurance companies, then you know that I have some strong feelings on the topic. Though I have to admit that an annuity can make a lot of sense for some people. Basically, by trading in some of your nest egg, you can create a stream of monthly income. The danger lies in the financial security of the insurer. So be careful choosing a company if you opt for an annuity.

My Review: Determine how you will disperse your nest egg to yourself and that may include some insurance options

#6 “Take losses in stride”

Research shows that as you age you become more loss averse. Meaning, you are less likely to take risks and feel the pain of a loss much more than the joy of a gain. The problem that this can cause is that you may invest too conservatively and not have enough money to last.

To help abate your concerns and maintain a healthy portfolio, you should stay financially educated. Don’t stop learning and watching. Also, don’t put too much into stocks after you retire and keep it that way. If you aren’t overexposed to stock market fluctuations, then you are less likely to freak out if the Dow Jones has a bad day, week, or month.

My Review: Just stay informed and don’t let small losses distract you

#7 “Protect the future you”

Personally, I’m looking forward to this problem. Research shows that as you age, your brain undergoes some subtle changes that make you more optimistic. In fact, you become less aware of danger. One reason why older people are more susceptible to scam artists.

So Money recommends the following to help keep your optimism in check:

  • “Stay active” – Stimulating both your brain and body can help keep your thoughts clearer
  • “Simplify your finances” – Have fewer things that you can mess up
  • “Be hard to find” – Don’t talk to strangers who could be scam artists
  • “Arrange now for help later” – Create a durable power of attorney so that a loved one can step in if need be

My Review: Nobody wants to face the reality that you can’t take care of yourself, so take care of yourself physically and mentally so you can

For the full article, check it out on CNN Money.

Posted in Investing, Reviews, Featured, RetirementComments (0)

Freedom Week: Financial Bill of Rights

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Freedom Week: Financial Bill of Rights


Bill of Rights

To celebrate the birth of our nation and the freedoms that we are afforded, I am writing three posts this week with a twist. Each post is based on an influential document which has given us rights.

On Monday, I outlined the Financial Declaration of Independence. Today’s post, based on the United States’ Bill of Rights, is the Financial Bill of Rights.

  1. First Amendment – Freedom from debt, credit cards, and HELOCs
    We shall take out no unnecessary debt living beyond our means, which prohibits free exercise of other rights; or overspend through the use of credit cards; or enslave ourselves through the use of HELOCs; rather save the necessary sum to pay cash for wants and needs.
  2. Second Amendment – Right to keep and have savings
    A well regulated Automatic Savings Plan, being necessary to the security of a financially free Family, the right to an Emergency Fund, shall not be infringed.
  3. Third Amendment – Protection from bank failure through FDIC insurance
    No Investor shall, in time of peace place cash savings in any bank, without FDIC insurance, nor in time of war, but use multiple banks as necessary.
  4. Fourth Amendment – Refusal of Interest Only and Adjustable Rate Mortgages
    The right of the people to be secure in their houses, condos, and town houses, against needless foreclosures and bankruptcies, shall not be violated, and no Interest Only or ARMs shall be issued, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.
  5. Fifth Amendment – Health, life, AD&D and LTD insurance
    No person shall be without Health insurance, or adequate Life insurance, sufficient for final expenses and income replacement, except in cases when no financial means to purchase insurance exists, while actively seeking new employment or other income source; nor shall any income producing person be without Accidental Death and Dismemberment insurance; nor shall any income producing person be without Long Term Disability, sufficient to replace 60% of the normal wage.
  6. Sixth Amendment – Right to steady, growing mutual fund returns
    In all mutual fund investments, the investor shall enjoy the expectation of steady, growing returns, by careful fund selection based on principles of positive alpha, fair management fees, consistent performance, and passive management where appropriate; each fund consistent with a target asset allocation plan; to have compulsory purchases avoided and decisions based on sound investing principles.
  7. Seventh Amendment – Consistent asset allocation by rebalancing
    In accordance with a predetermined asset allocation plan, where the values are determined through evaluation of your risk and investing objectives, the right of rebalancing, or realigning investments which have deviated from their allocation, shall be exercised, and no given investment, shall be allowed to overwhelm the returns of other investments, which may result in large, unexpected losses.
  8. Eighth Amendment – Abolishment of excessive management fees
    Excessive management fees shall be avoided, nor 12b-1 fees paid, nor front end or back end loads paid.
  9. Ninth Amendment – Protection of rights not specifically enumerated in credit card agreements
    Where credit cards are used, the enumeration in the Agreement, of certain rights, shall not be construed to deny or disparage others retained by the credit card account holder.
  10. Tenth Amendment – Powers of spouses and family councils
    The powers delegated to the Head of Household by the Family, are reserved to the Spouses respectively, and decisions discussed in family council.

Signed this 30th day of June, 2010,

Adam Williams and the Rabbit Funds team

Sign the Financial Bill of Rights by leaving a comment in the comments section below and follow Rabbit Funds on Facebook for more great financial planning info.

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Benefits of an Online Multi-Carrier Brokerage Firm vs a Local Agent [guest post]

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Benefits of an Online Multi-Carrier Brokerage Firm vs a Local Agent [guest post]


In our current hectic and fast-paced lifestyle, technology has caught up with every industry, making businesses work better, faster and safer. The life insurance industry is no different.

Shopping for Insurance OnlineTechnology has simplified the process of applying for and buying life insurance so greatly that it is now possible to buy life insurance online with just a few clicks. Most new life insurance buyers in the market are therefore left wondering whether to stick to the traditional route of meeting with a local life insurance agent or buying online.

What is a multi-carrier brokerage firm?

A multi-carrier brokerage firm, also called an online life insurance agency, conducts its life insurance business through its website. It deals with hundreds of carriers and uses technology to link in real time to life insurance carriers’ computers. This means the information it offers to the end customer is up to date and accurate. These multi-carrier brokerage firms also offer life insurance-related resources to gain information, unbiased advice, use free tools like life insurance needs calculators, and request for free quotes.

Why is buying through an online multi-carrier brokerage firm better than buying through a local agent?

The traditional way of buying life insurance through a local agent is greatly challenged by the arrival of online life insurance agencies. Let’s see why buying online is better:

  • A local agent represents just a handful of life insurance companies and may recommend the wrong product to you
    Life insurance should be bought after shopping around. Since a local agent deals with just a few carriers, you only get the best of what’s in his portfolio. Sometimes, a biased agent will even sell you policies that don’t fit your needs, only because he or she gets a higher commission on it. On the other hand, when you buy online, you are assured that the quotes recommended to you are true, because they are picked up through a database consisting of thousands of life insurance policies. The process is automated and therefore, completely unbiased.
  • Online multi-carrier agencies are fast and safe
    When you buy through a local agent, the buying process takes time. The agent will need a few days to get the information he/she needs or will have to meet you several times, and you will likely take a few days to decide. When you buy online, you can make the process as fast as you want it to be, because quotes, as well as complete information about them, is given to you in minutes.
  • Buying through an agent can get uncomfortable because you need to divulge complete personal information
    Filling up a life insurance application form manually in the presence of an agent can get uncomfortable because the agent will need to ask you a few personal questions that can embarrass you. He will also need to know the details on your finances. Buying online is more comfortable because you are not face-to-face with the person asking you questions. All you need to do is fill in their form as truthfully as possible, and you are done.
  • Multi-carrier websites are a one-stop shop
    Life insurance is a very personal decision and an online agency not only gives you quotes but also gives you access to life insurance-related resources, online tools such as life insurance needs calculators, advice on how to get the best results on your physical exam, and complete financial information and comparison charts on the quotes you shortlist. With a local agent on the contrary, the information is more likely to be subjective because agents are also looking to maximize their incomes, and they earn better on some products than on others. Also, an agent may not have access to all the information you need off the cuff and may need to meet with you several times before you can make a decision.
  • Life insurance carriers have niche areas in their underwriting processes
    This means that a particular company may look more favorably on a particular health or lifestyle condition than others. So if you are a cancer survivor, Company X may look more favorably on you than other companies. These niche areas are constantly changing, and a local agent may never be able to be on top of the latest changes, because of his limitations. A multi-carrier online agency however, is directly connected to each carrier’s network, and its database is automatically updated to reveal the latest niche areas of each carrier. You are therefore more likely to get a better life insurance rate with an online multi-carrier life insurance agency.
  • Buying online is faster, cheaper and more reliable
    Because of the above points, when you buy online through a multi-carrier life insurance agency website, you will be offered the best rates, your needs are matched to the right policies and you are able to make a well-informed decision because you are provided with complete information on the policies you are considering.
  • Afraid of buying online?
    If you are worried about using your credit card online, you can still use the services of an online multi-carrier agency website. Once you are given the quotes, you can opt for someone from the agency to call you, follow up with you, or use an alternative way to pay for your life insurance. In other words, you don’t have to pay online if you receive quotes online.

Online life insurance agency websites provide an indispensable service

The intention of this article is not to discredit the services of local agents, some of who are extremely trustworthy and committed. However, today they just can’t compete with the technological advancements that online multi-carrier agencies have incorporated into their businesses. Accessing an online multi-carrier website is simply the smarter, more economical thing to do.

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Steps to getting discount auto insurance for students [guest post]

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Steps to getting discount auto insurance for students [guest post]


Juanita Martinez is associated with the AmPmInsure Community and has been offering her suggestion on insurance to the community since 2007. Further, she has also written contributory articles for various financial sites. Some of her articles include “˜Ho3 Policy: An open peril insurance’, “˜Insurance for fire damages’ and “˜Buying life insurance on someone without their consent’.

Young driverIf you’re a high school or a college student and just bought your first car, you are probably in the market for insurance to cover your vehicle against any sort of damage. Most of the insurance companies consider young drivers to be highly risky, so they charge a higher premium. To go easy on your pocket, you should look for companies which offer affordable auto insurance for students.

How to get low cost car insurance

You may qualify for affordable auto insurance if you meet the criteria outlined below:

  • Good grades: You need to have good grades to get a discount on your car insurance premium. Generally, the insurance company considers students with high grades as responsible drivers. You may get a discount of 10% to 15% if you have a GPA of 3.0, average grade of at least B and your name was on the Dean’s List of Honor Roll in the previous semester.
  • Use your parent’s policy: Most insurance companies offer discount on multiple vehicles. You may remain as a secondary driver in your parent’s policy and save money. However, this option may vary from one state to another. So you need to speak with your insurance company first.
  • Higher deductible: You can choose a higher deductible which in turn reduces your insurance premium amount. If your car is a few years old, going for higher deductible will lower your premium towards collision and comprehensive coverage. But, you have to make sure that you have the deductible amount ready with you, in case you have an accident.
  • Avoid high performance cars: You should avoid going for a high performance car, as it will increase your insurance premium amount. If you choose a standard car like a sedan, your premium will be lower.
  • Enroll in a driving course: You should get enrolled in a certified driving course to get a discount on your premiums.
  • Be a good driver: After driving safely for some days, if you have not met with any accident, haven’t got any ticket and have not violated any traffic rule, you can contact your insurance company to give you discount for being a good and safe driver.
  • Low mileage policy: You can ask for a low mileage policy if you drive your car only during the holidays. Insurance companies offer low premiums to students whose car remains on the driveway most of the time. If your school is far from your residence and you need to drive your car to commute to school, you can take a carpool buddy and ask for discount on premiums from your insurance company.
  • Have a good credit history: If you have a credit card, make sure to make regular payments so that you have a good credit score. You can also get your credit report from the credit bureaus prior to going to the insurance company, and make sure that all the information stated there is correct. If you find incorrect information, you should notify your creditors and have it corrected. A good credit score will lower your insurance premium.
  • Install safety features: You can lower your insurance premium by installing safety features in your car like an anti-theft system, airbags, anti-lock brakes, etc.

You need to be aware of the various types of policies, premiums and coverages offered by different insurance companies. You should also ask them about the discounts offered. Search the internet and choose the company which offers affordable auto insurance so that you don’t pay too much out of pocket.

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The real price of poor health insurance

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The real price of poor health insurance


SistersMy second daughter was born this past Tuesday. The nurses were a little concerned about her breathing and took her down pretty quick for a check-up. Like her older sister, my new little girl spent three days in the NICU. Fortunately, she is home now and doing just fine. We found it interesting that both our girls spent the same amount of time in the NICU though for slightly different reasons. Also, we had different health insurance for each pregnancy and birth.

Health Insurance #1

With our first daughter, we had health insurance that pretty much covered everything. We didn’t even have co-pays. Our total out-of-pocket was just a couple hundred dollars. Ignoring the financial benefits, what we really received was peace of mind. For example, when my wife needed the epidural, the answer without hesitation was yes. When our little girl was admitted to the NICO and they needed to run more tests, the answer was please. We certainly were mindful of not being frivolous, but we received the needed health care without sitting in the waiting room wondering how we would ever pay for it.

Health Insurance #2

My company announced last December that starting January 1st, our health benefits would be drastically reduced though the premium stay the same. The HR representative who had to tell 300+ employees about the “good changes” in our health insurance missed her true calling as a car salesman. Within two weeks of the “good news,” we received additional good news – we were pregnant. We had been wanting to conceive, so the pregnancy didn’t come as a complete surprise. This time though, we had a $4000 deductible to meet! We started saving money each month. However, there were complications early on that required 3-4 ultrasounds, medication, and extra visits to the doctor. My wife again wanted an epidural (which didn’t work). Our little girl was admitted to the NICU and given antibiotics. With each eventuality, the thought crossed my mind, “Do we really need this? How much will this cost?”

Are we just being conscientious consumers?

On several occasions during the pregnancy, we opted to forgo a doctor’s visit or prescription medication in lieu of over-the-counter options simply because we could not afford it. Fortunately, we ended up being okay without the extra doctor’s visits and medication. So, did we make the right decision? Were we just being good consumers and questioning each expenditure? Or did we risk my wife’s and baby’s health?

Are we entitled to better health insurance?

There is a health care debate raging in this nation right now. One side says, “Health care for all.” The other side says, “We agree. Just pay for it yourself.” So are we entitled to better health insurance? Absolutely. The question is, who should pay for it? One of the biggest reasons we took my job was the fantastic health insurance. We didn’t know that the company would cut back during a down economy and drastically reduce our benefits. If Obama’s plan passes, my family stands to greatly benefit from government subsidized health insurance. But in an effort to reduce my expenses and provide superior health insurance, I don’t think I have the right to expect another person’s hard work to foot the bill. I believe appropriate planning and work is the answer.

I’m not trying to be political

Though this discussion obviously has political elements. I have simply now experienced both the high and low of health insurance (discounting not having health insurance). My experiences have left me desiring better health insurance so I don’t have the financial anxiety on top of the anxiety of just being in the hospital. And that’s one reason why I’m headed back to graduate school next year to put my family in a better situation with better health insurance.

What are your thoughts and experiences with health insurance?

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Insurance Series: C.L.U.E. Report

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Insurance Series: C.L.U.E. Report


C.L.U.E. Report from ChoiceTrust.comInsurance Series – Over the next several weeks, I will cover four of the major types of insurance, as well as surrounding issues, that you should have or re-evaluate if you already have. This is post #2 – C.L.U.E. Report.

I wrote last week about some of the issues surrounding home owner’s and renter’s insurance. I briefly mentioned C.L.U.E. Reports, what they are, and how to order one. However, I don’t think that I really did the topic justice. A C.L.U.E. Report is the equivalent of a credit report for your insurance history. I am a firm believer in actively managing your credit and monitoring your credit report. The same principle applies to your “insurance report” as it can negatively impact your financial situation.

What is a C.L.U.E. Report and how do insurance companies use it?

ChoiceTrust, which is owned by LexisNexis, is the “credit” bureau of insurance. Your free C.L.U.E. Report is much like a credit report in that it maintains a seven year record of your (1) personal property loss history and (2) inquiry history. They also calculate a score based on your loss history. Insurance companies use actuarial tables to determine the risk of a given consumer. Therefore, insurance companies pull your report to see how frequently you make insurance claims and the severity. Both of those factors, frequency and severity, are then used to determine how risky you are and what your insurance premiums should be.

C.L.U.E. Reports are available for both your personal property (i.e. home owner’s insurance) and automobiles.

How can you use the report as a consumer?

Offering your C.L.U.E. Report to prospective home buyers is a great way to let them know that you have taken good care of the home (whether that be few losses or always taking care of problems as they arose).

How do you obtain one?

Unfortunately, you are supposed to order your report by mail. Follow this link to download and print the order form. After printing it, just follow the instructions on the form. If you “do not have Internet access” (then you probably aren’t reading this post), but you can call 1-866-527-2600 to order it by phone. Which means, even if you do have the Internet, you can still call and order it.

You will be required to send photocopies of sensitive documents such as your driver’s license or social security card. So please use security envelopes.

How often should you check your C.L.U.E. Report?

Just as with credit reports, your C.L.U.E. Report may contain false or inaccurate information. Meaning, an annual review is probably sufficient. Or, if you plan to change insurance providers in the near future, you should probably order one with enough time to fix any mistakes. If you do happen to find any errors and wish to dispute them, you can do so through ChoiceTrust.

So, get off your duff and order one!

(This post was featured in the 82 St Edition of Money Hackers)

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Insurance Series: Home Owner’s and Renter’s Insurance

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Insurance Series: Home Owner’s and Renter’s Insurance


Home InsuranceInsurance Series – Over the next several weeks, I will cover four of the major types of insurance, as well as surrounding issues, that you should have or re-evaluate if you already have. This is post #1 – Home Owner’s and Renter’s Insurance.

No one expects the worst to happen, but it does. Whether it’s a break-in, a pipe breaking, a fire, or you lose your wedding ring (ask my wife about that one), chances are that you will need to use Home Owner’s or Renter’s insurance at some point. The purpose of this post is to outline various issues surrounding renter’s and home owner’s insurance and what level is appropriate. Also, a lot of renter’s should have renter’s issurance so I’ll briefly plead that case.

Renter’s Insurance

Long before we ever owned a home, my wife and I lived in an apartment (berber carpet, no padding, oh those were the days). Shortly after moving in, we called one of my friends that works for an insurance agent and began asking questions about renter’s insurance. They were already insuring our car at the time. Come to find out, the cost to add a renter’s insurance policy was essentially $0 in our case. Here’s why. Insurance companies give discounts for coupling various types of insurance or insuring multiple assets. The discount on our auto insurance was equal to the cost of renter’s insurance. Later, when we switched our car insurance to Geico, the annual rate for renter’s insurance jumped up to only $72. Meaning, renter’s insurance is generally pretty cheap and well worth the expense.

In the case of renter’s insurance, the building owner has the liability if the structure is damaged in a natural disaster. You are responsible for all of your assets. Meaning, your clothes, dishes, furniture, TV, etc. What many people don’t realize is that renter’s and home owner’s insurance cover items in your car as well. So does that include your car stereo being jacked? No. Here’s a simple way to determine what in your car is covered though. Imagine for a moment that you are Hulk but without the bulging green veins. If you picked your car up and shook it with the trunk open, anything that falls out is covered by your renter’s or home owner’s insurance. So your CDs or iPod are covered. So when trying to determine how much coverage to buy, estimate the cost to replace all of your personal items and not the cost to repair the structure.

One last note, if you are a renter and sublet your apartment with your furniture or other belongings still in it, then renter’s insurance should be a no brainer.

Home Owner’s Insurance

With the purchase of a home, home owner’s insurance can become a bit more complicated. For example, if you belong to a Home Owner’s Association (HOA) then the HOA may cover some of the insurance.

Non-HOA

If no one else is insuring any part of your home, then you bare the full responsibility to insure against structural damage and loss of personal belongings. To help choose an insurance company and how much coverage is appropriate, I’ve compiled a short list of things you should consider.

  1. Know yourself and your goals
  2. Know your budget and how much you can afford monthly
  3. Understand in detail the costs and benefits of each insurance product (ask lots of questions)
  4. Insure against high-cost, high-severity losses only (see Deductible and Coverage below)
  5. Work only with high-quality individuals and institutions
  6. Review your insurance needs annually

HOA

We belong to an HOA that insures from the walls out on our townehouse. Meaning, we are responsible for our personal belongings as well as everything inside of the walls. For example, flooring, carpet, and cabinetry. If you move into an area that has an HOA, find out what, if anything, they are covering and then insure accordingly.

C.L.U.E. Report

When determining your insurance premiums and whether or not to insure you, insurance companies use actuarial tables to estimate what you will cost them in the future in claims. This estimate is based on past behavior – how many claims have you had (frequency) and how much did they cost (severity). All of this information is available to you as well via a C.L.U.E. Report. This service is offered by ChoiceTrust. The report contains a seven year record of your “personal property loss history, inquire history, and instructions on how to dispute the claims on your report.” The same report is available for your auto insurance as well.

Deductible and Coverage

Determining your deductible can be tricky. Probably the simplest way to determine your deductible is to evaluate how much you have in savings and could therefore cover out of pocket versus the impact on your budget of the higher monthly cost of a lower deductible. The purpose of insurance is to hedge against the risk that something happens by investing money now. An insurance company is a way to pool money from many people to cover the cost when something does happen. However, there is always some element of self-insurance. Let me explain. By having a deductible above $0, you have decided that you have the resources to self-insure against some fixed dollar amount, which is equal to your deductible. Therefore, when you set your deductible, think of that as self-insurance and what you can afford later versus on a monthly basis. At a minimum, insure against high-cost, high-severity events and evaluate your financial ability to self-insure against events with a small economic impact (small is relative to your financial situation).

Action Plan

In brief, having renter’s or home owner’s insurance is part of your total financial plan. First, check your C.L.U.E. Report for any discrepancies as they may unfairly increase your premiums. Second, shop your insurance around with several reputable companies or acquaintances. Third, try to bundle all your insurance with one company for the best rates (this does not always work). Fourth, insure against high-cost, high-severity events and save or self-insure for your deductible and other smaller life events. Last, re-evaluate your premiums and coverage on an annual basis.

Have any good horror stories when you were glad you had insurance?

(This post is featured in the Carnival of Personal Finance #221 – Labour Day Edition hosted by Financial Highway)

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