Insurance Experts

You were humming along on a bright and sunny day when suddenly Fred Fuddle, a local character from a nearby town, drunk as a skunk and zooming along in his pickup, flew through stop sign crashing into the right front of your motor vehicle. You had no choice to avoid him. Now the time has come to settle your claim for property damage and personal injuries. Let’s talk about photographs one of the basics that should have been taking place - - just as soon as possible - - after that impact had taken place.

PHOTOGRAPHS OF INJURIES: Photographs are often the best evidence you can produce to increase the value of your claim. If your accident causes bodily injuries that are visible (such as bruises, deep cuts, swellings, lacerations, dislocations and/or black and blue marks) it’s crucial, to the ultimate settlement value of your case, that you have photographs taken of those just as soon as possible! Take them from 3 feet away and also as close as you can so as to capture the seriousness of heir existence. When you hand those to Adjuster I. M. Smart from the Granite Insurance Company believe me when I tell you he’ll stare at them and blanch!

Question: “How does Dan know this to be so”?

Answer: “Because for 38 years Dan was there and felt that”!

PHOTOGRAPHS OF BOTH VEHICLES: You should take photographs of the damages to your vehicle from several different angles. If at all possible find the motor vehicle that hit you and take photographs of that damage also. When it comes to proving the impact your body was subjected to (and in many cases to prove who was at fault) those photographs could one day be worth their weight in gold.

HOW TO TAKE PHOTOGRAPHS OF THE ACCIDENT SCENE: The pictures of each accident scene should be taken from at least three different angles: Snap several of a “general view” of the area from about 20 to 40 feet away; a couple more “medium range” shot’s from 10 to 15 feet away, and then some “close up” shot’s from 3 to 5 feet away. If it’s at all possible all three different distances should have a common point or orientation. If, for example, you’re snapping photographs of a skid mark, it should be taken from an angle so as to clearly show were that skid mark is, in relation to a landmark, like a street sign, a building, a fire hydrant, etc. Another photograph should then be taken with a closer view - - one clearly identifying the skid mark in detail - -and also, if possible, include this readily identifiable object or landmark (the street signs, building‘s, etc.).

Because they’re such potent evidence you should blow up those photographs of the skid marks, taken from 3 to 6 feet away, into 8X10 glossies. A total of 12 to 15 photographs of the accident scene and/or the skid marks are not too many. When you hand copies of the 8X10 glossy photograph’s of those skid marks to the adjuster, to help justify he payment he’ll eventually make to you, it will absolutely increase the value of your claim.

“Why” you ask?

The answer to that one is, “Because it will tell both adjuster Smart and his supervisor (who, in the end, will usually call the shots on how much your settlement dollars should be) that you know what you’re doing and you’re not the type of individual who can be taken advantage of”.

A WORD OF CAUTION: The individual engaged in the task of snapping photograph’s of your body, the accident scene, etc., should be careful to make sure they’re not undertaking this effort with a casual, hasty or careless attitude - - one that tends to leave it up to do the camera to do the thinking for them. Rather, the photographer ought to carefully consider the process the process slowly and seriously so that the photos produced will produce the maximum value.

If at all possible photos should be taken of the exact location on the road where the impact occurred, and shots of all relevant gouge and/or chop marks on the surface, plus traffic signs, etc., as applicable.

It cannot be emphasized enough that photographs of skid marks are invaluable evidence, since they can often indicate Fuddle’s speed at the time of impact and can be a tremendous asset when it comes to establishing fault.

A good practice to follow is to make a brief notation on the backs of all photos, entering upon them a brief account of what the photo is showing, the date it was taken and by whom.

Photographs of injuries, the accident scene and the road surface if done correctly - - is money in the bank !

Copyright (c)2004 By Daniel G. Baldyga

DISCLAIMER: The only purpose of this article “THE GREAT VALUE OF ACCIDENT PHOTOGRAPHS” is to help people understand the motor vehicle accident claim process. Neither Dan Baldyga, Peter Go nor ARTICLECITY.COM make any guarantee of any kind whatsoever: NOR do they purport to engage in rendering any professional or legal service, NOR to substitute for a lawyer, an insurance adjuster, or claims consultant, or the like. Where such professional help is desired it is the INDIVIDUAL’S RESPONSIBILITY to obtain said services.

All of the information necessary for you to deal with and handle the above issues are spelled out wiithin the contents of Dan Baldyga’s third “How To” Insurance Claim book AUTO ACCIDENT PERSONAL INJURY INSURANCE CLAIM (How To Evaluate And Settle Your Loss)found on the internet at http://www.caraccidentclaims.com or http://www.autoaccodentclaims.com. This book also contains BASE (The Baldyga Auto Accident Settlement Evaluation Formula). THE BASE FORMULA will tell you exactly how many dollars the “Pain and Suffering” you endured, because of your accident - - are worth!

Copyright (c) 2002 By Dan Baldyga. All Rights Reserved

The violent winds, rains and storm damage from hurricanes can devastate communities and cause billions of dollars worth of destruction. The losses from hurricanes this year alone have surpassed that from almost any other natural disaster in years. The risk to your home and possessions can be enormous and you really should be considering insurance cover for hurricane damage if you live in any area that is exposed to the risk of hurricane. As well as insurance cover however, there are other steps you can be taking to prepare for, and minimise the damage to your property and risk to your family that hurricanes pose.

Since the Atlantic hurricane season begins in June and continues through till the end of November, there is a significant proportion of the year during which you should be prepared in some way for hurricane threats. Some of the preparations below will be required by insurance policies, others will not but are still helpful to you and your family. Some of them may even be able to bring down your insurance policy price as the insurance company recognises that you are safer than you otherwise would be and are therefore less likely to be making a claim.

Be Prepared

First of all you should be familiar with the terms of your insurance policy and any disaster preparedness and response plans they have. These will help you in the case that disaster does strike or you find yourself in need of making a claim.

If you think you may need to evacuate your area, you should contact the appropriate authorities before hand to know what those requirements will be. You should have a plan formulated in advance and if there are shelters nearby you should know where they are and how to get to them.

Keep supplies such as food, water, gasoline, portable radios and batteries stored somewhere safe so they will be available to you in the emergency. Several flashlights with extra batteries should be included. Copies of important identification and insurance documentation would also be useful in certain situations to speed up applications in the event that wide spread devastation occurs. Medical supplies such as aspirin and aspirin free painkillers, antacid, bandages, gauze and disinfectant are also useful.

While insurance is a very important step you should be taking to protect your possessions and family in the event of disaster, there are many other steps you can take to prepare for the situation also.

Should singles consider getting term life insurance quotes? Contrary to what many believe, it makes sense for all adults, regardless of marital status, to have life insurance.

And since life insurance premiums increase with age, getting a term life insurance quote while you’re young, single and healthy makes good financial sense. If you’re single and think you don’t need life insurance, consider the following reasons why it might make sense for you.

Do you have dependents?

Being single does not necessarily mean you have no dependents. You may have children from a previous marriage or you might have parents or grandparents who depend on you for financial support. In either case, these people will be impacted should you die prematurely. They’ll lose you as well as a source of income.

A life insurance policy naming your children, parents and/or your grandparents as beneficiaries will ensure you’re able to help out financially even after you’re gone. Get a term life insurance quote and you’ll see that the price you’ll pay is worth the peace of mind you’ll get in return.

Do you have loan obligations?

Life insurance is something you should definitely consider if you have a loan that is in your name and that of a cosigner. A cosigner doesn’t have to be a spouse. It can be a friend, relative, co-worker, even a roommate. If you die unexpectedly and your name is listed on a loan, your cosigner becomes 100% responsible for repaying that loan.

You might want to consider getting a term life insurance quote for at least the amount that will cover your loan obligation and make the cosigner your beneficiary. Even if a loan is in your name solely, creditors can go after your assets later on in an attempt to settle your loan obligation.

Do certain medical conditions run in your family?

Here’s something that often comes as a surprise to many single people. Your family history may make it difficult for you to obtain a reasonable term life insurance quote later on when you really do need life insurance. Certain medical conditions are genetic and even if you do not have any symptoms now, they may appear years from now.

While you’re young and your health is good is the time to take advantage of the relative ease you’ll have in obtaining life insurance. If you wait until symptoms develop, you may find you’re uninsurable. When you’re getting your term life insurance quote, ask about a guaranteed insurability rider. This rider will enable you to purchase additional life insurance without having to prove you are insurable.

Do you want a proper burial?

There is one more good reason why single people should get a term life insurance quote. If you died suddenly, someone would be responsible for the expenses involved in your funeral and burial. A nominal life insurance policy could relieve others of this type of financial burden.

Hopefully this has convinced you that it’s important to get a term life insurance quote now!

For years now, retirees, government and private employees, unemployed individuals, housewives, as well as out-of-state and US citizens working abroad have been receiving some form of benefit from a Blue Cross or Blue Shield health care provider.

The Blue Cross and Blue Shield Association aims to provide affordable yet adequate health care for millions of Americans across the nation. After years of hard work and paying appropriate taxes, the beneficiaries of the Blue Cross and Blue Shield health insurance plans deserve nothing but the best medical care that they can get.

You will never get to enjoy life to the fullest, as well as the fruits of your labor if you have poor health. Thus, more and more Americans now are aware that they need to put some effort into living a clean lifestyle so that they can enjoy life more.

‘Blue Cross and Blue Shield Health Providers’

The association formed by two separate companies, Blue Cross and Blue Shield, have merged many years ago to form the Blue Cross and Blue Shield Association.

Currently, this organization has over 30 independent health insurance companies operating on different parts of the country.

Take a look at this list to have a deeper understanding of the health care benefits that one can get with a Blue Cross and Blue Shield health provider:

1. Affordable monthly health insurance premiums.

2. A choice between a short or long-term health coverage, depending on your individual needs.

3. Discounts on medical procedures, consultations and general health care.

4. Plans for medical supplies in case of an injury or a short period of stay in the hospital.

5. Out-of-state coverage for travelers.

6. Dental, life, preventive, prescription, emergency and eyes and teeth coverage - depending on the plan that you will take advantage of.

Here are just some of the Blue Cross and Blue Shield health insurance providers in different states:

- Blue Cross Blue Shield of Texas

This company offers a health plan specifically designed for consumers. They offer various health plans to fit your individual needs.

- Horizon Blue Cross Blue Shield of North Carolina

The Blue Advantage is one of their most popular health care plans. This company offers health care insurance for individuals, entire families, Medicare beneficiaries and groups who would like to receive benefits at a lower insurance premium.

- Blue Shield of California

There are still states where Blue Cross and Blue Shield are considered separate entities rather than a merged company.

The company Blue Shield of California offers a wide array of health plans, providers and pharmacies which will cater to your specific health care needs.

- Blue Cross Blue Shield of Georgia

Blue Cross Blue Shield of Georgia offers health insurance plan to cater to women’s health, as well as an overall health care program to ensure that you are getting the best health and medical care possible at affordable rates.

Blue Cross and Blue Shield health care providers have one company in almost each state. This way, you can get the best of both worlds by taking advantage of affordable health insurance plan premiums, while getting the best overall health care that you deserve.

A proper dental care plays an important role in our daily heath care regime. Just the way you take pain to take care of your body, it is also important to take care of your mouth and your teeth. In fact, when a mouth and the teeth are not healthy, it can easily affect your overall health and your well being. Even if you take care of your teeth properly by brushing and cleaning them, there is always a need to visit a dentist regularly and undergo various treatments like regular check-ups, scaling, filling, gums treatments etc. But the cost of dental treatment has become costly day-by day with the arrival of new and new technology in the market. This expensive dental treatment has given rise to a complete dental insurance policy for you and your family. This complete dental insurance plan will help you in overcoming the financial loss that you might have come under because of the treatment.

There are two broad types dental insurance: one is the group dental insurance and the other is individual or private dental insurance.

In group complete dental insurance the employers buy the insurance for his employees. Several companies offer free dental policy for their employees. It is a contract between the employers and the policy providers. There is a list of doctors that falls under this plan. You have to choose someone from amongst them. Complete Dental Group insurance policies are cheaper than individual or private dental insurance. A group complete dental insurance may also cover the costs of the complete dental check-ups of the employees’ family.

An individual or private dental insurance on the other hand is the one where you pay the premium for the insurance that you buy. Here also you can buy any plan for your family as well as you depending upon your family’s financial condition. In this type of complete dental insurance, you decide the dentist of your choice.

It is important to keep in mind that dental policies often do not pay for the full cost of your treatment. You will normally have to enroll three to six months prior to using the plan. . Complete dental insurance will pay for general treatment such as crowns, root canal work, bridges, dentures and other laboratory work up to the maximum annual limits. It also covers emergency treatments.

It is not so difficult to find a complete dental insurance. You just have to come online and buy an affordable complete dental insurance plan for you and your family.

Long term care insurance coverage simply MUST be considered by everybody who can medically qualify for this important coverage.

Why? For starters here are 10 good reasons:

1. The odds: The odds of your needing long term care are overwhelming: The odds of requiring long term care in your lifetime have now risen to 70 percent. That means that seven out of 10 Americans will use their policies - This is a far greater risk than an auto accident or a house fire. Most people wouldn’t even consider being without homeowners and auto insurance, but there are far too many people who are not yet protected with long term care insurance.

2. Longevity: Folks are living longer. There are now more people over the age of 100 than any other time in history. Yet, we still have no cure for Alzheimer’s, Parkinson’s disease, Multiple Sclerosis or many other illnesses that can cause a need for long term care.

3. Independence: No parent wants to ever be a burden on their kids, especially if their kids are raising their own children. Baby boomers are called the sandwich generation because many are caring for an elderly parent with medical needs while putting a child or children through college. But most retirees want to remain independent as long as they can, even when it comes to such simple things such as driving themselves to doctor appointments and to the store.

4. Spend down: You run the risk of having to spend down your entire life savings for long term care needs before you die, leaving nothing to your heirs or worse yet, to your surviving spouse.

The most common governmental benefit is provided by Medicaid, and a married couple can have approximately $100,000 in savings while still qualifing for nursing home benefits through Medicaid. But a single person has to spend his savings down to $2,000 before he is eligible for those same benefits.

Even so, most parents would like to leave something to their family, even if it is just the value of their home for their survivors to sell and split the proceeds. Every generation feels that leaving a legacy is important, even if their children are already successful.

5. New statistics: Even though long term care is associated with seniors and retirees, Unum, a major LTC insurance carrier, reports that in 2006 almost 58 percent of LTCi claims were for people under the age of 65. The average claim for this age group lasted a year or longer. Unum’s analysis showed that 30 percent were cancer claims, and more than 10 percent were claims resulting from strokes. Other leading sources for claims included neurological disease, dementia and multiple sclerosis. These data underline the fact that the younger someone is when they apply for LTCi coverage, the better.

6. Underwriting changes: Over the last forty years, insurance companies have found that many policyholders who purchased LTC coverage have kept these policies in force longer than insurers anticipated. In the past, many insurers priced their plans anticipating that a certain amount of policies would lapse, which would lead to extra profit for the company. But when the number of lapsed policies was less than expected, claims increased, forcing them to re-evaluate their underwriting guidelines.

7. Government encouragement: Federal and state governments are now pushing hard for people to purchase their own long term care policies. Obviously, if more people purchase long term care insurance, fewer people will tap into the Medicaid and welfare programs that are jointly funded by the federal and state governments.

Their strategy is three-fold: First, they have made it tougher to qualify for Medicaid. Strategies that elder law attorneys and certified estate planners were able to recommend in the past are now against the law. Second, some states promote co-op programs to encourage citizens to purchase long term care policies. In most cases, whatever the value that the policy would pay would be matched by the state in free, future, LTC benefits. Most states have a cap on benefits, but needless to say, it is a good value for the resident. Last but not least, tax-qualified long term care policies are tax deductible.

8. Legal changes: Again, the federal government and some states have now changed the rules on what Medicaid applicants can legally do to qualify for benefits. One of the major changes on February 2, 2006 was the enactment of the DRA (Deficit Reduction Act) of 2005. This extended “look-back periods” for gifting to five years from three years. Also on gifting, whether money or property - the penalty calculation would be figured from the date of application for Medicaid instead of from the date of the gift. Another difference pertains to the usage of life estate survivorship deeds. The law now treats these as if the gift never took place for Medicaid eligibility.

9. Estate recovery: If one needs Medicaid for their long term care needs, 49 out of 50 states now have laws to place a lien against the equity in one’s home, so that when the Medicaid patient and their spouse, if applicable, pass away, the state will require repayment for the money they contributed toward their health care. And there goes any anticipated inheritance.

10. Health care flexibility: Home health care is by far one of the most popular settings for care. If at all possible, folks want to stay within the confines of their own home where they are comfortable versus living in an an institutional setting. With good home health care benefits available in most long term care policies, this choice can become a reality. We have seen folks use the home health care benefit of their policy to get a sitter or a home health aid to help them with their activities of daily living. Some of the more common illnesses were Alzheimer’s disease, cancer, strokes, and stability and mobility issues.

With these reasons alone, you can easily justify long term care insurance for your future financial freedom and independence. It’s prudent to gather as much information on statistics, laws and insurance in order to truly be prepared.

These days it seems investors are looking for safety and security more than ever, especially after the major stock market correction witnessed from 1999-2002. Four years later, numerous brokerage and variable annuity accounts still have not recovered their losses from that time period. Unfortunately, many investors were counting on those funds to provide income during their retirements.

Thus the introduction of the equity indexed annuity, or EIA, to the main stream marketplace. Designed to provide a greater return than the traditional fixed annuity, the equity indexed annuity can be a reliable alternative to a brokerage account. Only fifteen years old, several billion dollars have been deposited into these accounts.

Annuities in General

First, a potential investor should have a little background information. Generally, an annuity functions in the following manner: The investor, usually called an owner or annuitant, agrees to deposit funds with an insurance company for a specified period of time, say 7 years. The annuity is said to be in deferral during that period of time. While in deferral, most annuities will allow for partial distributions of interest gains or a yearly 10% free withdrawal or the required minimum distribution mandated by the I.R.S. (Many annuities allow for larger distributions if the owner is confined to a nursing home or is terminally ill.) Still another way to distribute annuity dollars is through a systematic withdrawal, referred to as an annuitization, based on a pre-determined schedule, say 5 years. However, if the consumer decides to take the entire contract out as a lump sum before the annuity has matured, then penalties are invoked based on the surrender schedule in the annuity contract. If the investor passes away, the lump sum of the annuity is paid to a beneficiary at passing unless other arrangements have been made.

Technically, equity indexed annuities are characterized as fixed annuities by the various Departments of Insurance in each state. That is to say, at no point does the investor ever own any variable type of security like a stock, bond or mutual fund within the EIA account. These accounts do not fluctuate in value like a variable annuity might. Yet the equity indexed annuity is not like your typical fixed annuity either.

The Equity Indexed Annuity Advantage

What makes EIAs different than a traditional fixed annuity is how interest is credited to the account. Typically, the insurance company will buy an option in a particular index like the DOW, S&P 500 or the NASDAQ. After a period of time, usually one year, the option contract comes due. One of two things will then occur. If the market index has advanced, the option is cashed in and interest is credited to the annuity principal. Conversely, if the market has retreated, the option expires and no interest is credited to the account for that year.

In practice, the annuity either gains or maintains value each year, but the investment cannot lose value due to negative market fluctuation. (It is also important to note that all EIAs have a minimum guarantee associated with their returns. For example, this guarantee might state that if the market declines every year over the life of the annuity, the insurance company will guarantee payment of 2% on 88% of the premium deposited. However, it is practically unheard of for this safety feature to be utilized.) Investors should also know that most equity-indexed annuities have a fixed interest account as an additional investment option. When interest rates are high and the stock market is in decline, the fixed account might be used to credit interest to the annuity principal.

Equity Index Performance

How do these annuities perform? Historically many of these accounts have averaged returns of 7% or better. In years when the broader markets have performed well so have EIAs. It is not uncommon for investors to enjoy interest payments during these prosperous years of 10-20% or better. But the crucial value of these accounts is realized during rapid market declines, when the equity indexed annuity will maintain its principal as well as interest gains from past years.

These facts may explain the recent popularity of EIAs, especially among retirees looking to preserve a lifetime’s worth of hard work. With the market advancing and declining so rapidly, many consumers are looking for safety and security without having to sacrifice reasonable interest returns. Granted, these annuities will not return 50% in one year, like a fortunate stock or fund pick might, but the peace of mind investors gain knowing their investment cannot decline has many placing a portion of their retirement funds into these accounts.

A Health Savings Account (HSA) does not really cover alternative medicine. However, there is a bit more to it.

A person using an HSA can withdraw money from this special type of savings account for any type of “approved medical expense.” Approved by whom? The IRS.

So, the IRS pretty much thinks that proper medical expenses are any types of Western medicine – pharmaceutical drugs, surgery, doctor visits, etc.

However, there are a few things on the list that are alternative medical options. Chiropractors are on the list. So is acupuncture.

With acupuncture, it must be considered “medically necessary.” That means that a doctor (MD or DO) must say that he thinks you should see an acupuncturist and write a prescription for it. Then you can see an acupuncturist and pay for it with the money from your HSA.

But there’s one more thing. When you are using an HSA in conjunction with a high-deductible health insurance policy, you start seeing the “real costs” of everything you do, up until you hit that “high deductible” each year.

When you start seeing the real costs of Western medicine, at that point, alternative medicine might start to look really good.

Consider the following:

A routine doctor visit done before you meet your deductible may cost you about $100. That is one hundred dollars for about a seven-minute visit. (HMOs like doctors to have short visits with their patients.)

Now think about an alternative medical provider. Let’s take a naturopath as an example. A naturopath may charge about $90 for your first visit. That visit will probably take about an hour and a half.

Let’s look at the cost in dollars-per-minute:

The doctor visit costs $14.28 per minute.

The naturopath visit costs $1.00 per minute.

You might think a doctor is better qualified to understand your health problems, but do you think they are 14 times better qualified?

Health Savings Accounts will cause all of us to evaluate our options. We’ll look at all the aspects of Western medicine and alternative medicine (or integrative medicine) and we’ll choose the ones that make the most sense.

Health Savings Accounts will change how we think of health insurance. They are a wonderful tool that almost every American can and should benefit from. And they’re available today!

Health insurance plans have been forced to take action to contain costs of quality health care delivery as health care costs have skyrocketed. Health insurance premiums, deductibles and co-pays have steadily increased, and health insurance companies have implemented certain strategies for reducing health care costs. “Managed care” describes a group of stratgies aimed at reducing the costs of health care for health insurance companies.

There are two basic types of managed care plans; health maintenance organizations, or HMOs, and preferred provider organizations, or PPOs. So which health plan is best? How do you choose what type of health insurance best suits the health care needs of you and your family?

Both HMOs and PPOs contain costs by contracting with health providers for reduced rate on health care services for its’ members, often as much as 60%. One important difference between HMOs and PPOs is that PPOs often will cover the costs of care when the provider is out of their network, but usually at a reduced rate. On the other hand, most HMOs offer no coverage for health care services for out-of-network providers.

Both HMO and PPOs also control health care costs by use of a gateway, or primary care provider (PCP). Health insurance plan members are assigned (or select) a primary care practitioner (physician, physician assistant, or nurse practitioner). usually a family practitioner or internal medicine doctor for adult members or a pediatrician or family care practitioner for childern. The primary care provider is responsible for coordianting health delivery for plan members. Care by specialist physicians require referral from the primary care provider. This cost containment strategy is intended to avoid duplication of services (for example, the cardiologist ordering tests that have already been done by the PCP, or a sprained ankle being referred to an orthopedic) and avoid unnecessary specialist referrals, tests and/or procedures.

HMO and PPO plans also contain costs by requiring prior approval, prior authorization, or pre-certification for many elective hospital admissions, surgeries, costly tests and imaging procedures, durable medical equipment and prescription drugs. When such services are required, the provider must submit a request to the health insurance plan review department, along with medical records that justify the service. The request is reviewed by the health insurance company to determine whether the services are justified as “medically necessary” according to the health plan policy and guidelines. Review is usually performed by licensed nurses, and, if the reviewer agrees that the service is necessary, approval is given and the service will be covered by the health insurance plan.

As health care costs continue to rise, many indemnity health insurance plans, or “fee for service” plans are being forced to adopt some managed care strategies in order to provide quality health care and keep health insurance premiums affordable. And as long as health care costs continue to rise, the distinctions among PPO, HMO, FFS and other health insurance plans will become blurred. Rest assured, however, that managed health care is here to stay.

The homeowner’s insurance coverage that the average consumer buys is widely misunderstood. The policy benefits and features are actually quite comprehensive but many people assume that they cover deterioration and maintenance problems. This is not the case. Those kinds of home maintenance problems were never designed to be covered by a homeowner policy. The rates would quadruple if that were the case. Homeowner’s insurance is unique and broad. Property insurance insures against perils. Perils are unforeseen occurrences like fire or lightening. Understanding perils is the first step in understanding your homeowner’s insurance.

Basic Named Perils

• Weight of Ice Sleet and Snow

There are more perils than those listed above but you can see how these perils are clearly unforeseen and are not at all related to deterioration or construction problems. Understanding perils will help you understand the concept of insurance. The next part of the homeowner’s policy that would be worth examining is the definitions.

Definitions

• Insured – is the named insured and all of the resident relatives

• Insured Location – the resident premises listed on the declarations page including the land where there is a home under construction. (Business use is excluded)

• Occurrence – is an accident or unforeseen event which includes the continuous or repeated exposure from the same harmful event.

These are three of the basic definitions that you will find in most homeowner’s policies. The definition of occurrence is much broader than most people understand and so it is good to read some of the definitions. These are some of the fundamental benefits and features of homeowner’s insurance coverage that most people do not take the time to examine. As long as you own a home you will most likely always have a homeowner’s policy and so it would be wise to get the basics out of the way. Too often we talk price instead of coverage. Go online and do some research about homeowner’s insurance and that will make your next home insurance purchase that much easier.