When students go back to school they generally go back with their brand new gadgets and devices. These devices are great to have for many reasons but are not always easily replaceable. Device insurance is a way to protect these devices when the worst happens.
What is Device Insurance?
Device insurance is exactly what it sounds like; insurance for your electronic devices. It is designed to protect your expensive electronics such as: ipads, iphones, ipads, tables, smart phones, gaming systems, laptops, e-readers, and other devices we can not easily replace.
When your device is damaged or stolen, insurance will allow you to repair or replace the device. Coverage is customized based on your needs and is available for all manufacturers. Before purchasing device insurance, it is important to know what is covered.
What is covered under a Device Insurance policy?
Chances are if you own a popular electronic device it is covered. Even if your device is not listed under one of our products, we should be able to build a device insurance plan for you.
There are however two different coverage choice options: Full coverage and Theft Coverage.
Full coverage covers just about all accidental losses a student could face:
- Accidental Damages
- Cracked Screens
- Liquid Submersion
- Natural Disasters
- Power Surge by Lightning
The full coverage and theft coverage options are similar except the full coverage option covers three additional losses. Theft coverage does not cover accidental damage, cracked screens or liquid submersion.
Is Device insurance worth it for you?
Anytime you are deciding whether or not to pursue an investment it needs to make financial sense for you. Insurance is just that, an investment into your financial well-being. To understand whether device insurance will work for you, you must understand the costs of device insurance and how it applies to your situation.
Device insurance rates differ depending on how much coverage you need. Rates can be as low as $15 for a year of coverage if your needed coverage is not very high. The type of device you are insuring, the coverage amount, the coverage type and how much time you are insuring it for will determine your total payment.
Generally there are four different deductible options to choose from with device insurance. These deductibles are $25, $50, $100, and even a $0 deductible option is available. A lower deductible will mean less out of pocket expenses when making a claim while a higher deductible will have higher out of pocket expenses but a lower rate.
Putting it all together in an easy to understand context
When looking for device insurance the first step is to look at the ease of replacing your device. If you can easily replace a specific device with your own means, then device insurance may not be necessary. If your device is expensive enough that you likely will not be able to replace it then device insurance can help.
How much can you afford? Knowing how much you can afford is important for two reasons. 1) If you can not pay the initial rate you will cannot be insured. 2) If you can not afford the deductible you will not be able to file a claim.
How much do you need? Before getting a quote you must know how much insurance you need. How much is your device worth? Knowing the value of our device will help you understand how much coverage you need.
Use these three pieces of insight to help you make your decision. An agent can also help you determine if device insurance is worth it for you.
Coverage for all a student's electronics
Device insurance is great if you are insuring one or just a couple of devices. Realistically, this may not be the best option for insuring many expensive devices all at once. If a fire breaks out damaging everything, you will pay each individual deductible with device insurance. To save yourself money, it may be ideal to instead have a renters insurance policy or our College Plus plan.
Our College Plus plan allows you to insure up to $20,000 worth of electronics for a low rate and a low deductible.
Knowing the best insurance option is not always easy. That is why we are here to help you understand your options and find a plan that fits your situation best. Contact our agents online or call us at 877-357-8049
We would like to introduce you to one of our top insurance agents in West Virginia. Jordan Osovich is a man who loves his community and strives to bring a superior insurance experience to its members.
Jordan Osovich is a lifelong resident of the Ohio Valley. After graduating from Belmont College, he went off to the National Alliance for Insurance Education and Research Producer School to bring home the most current methods of insurance services. This education would allow him to provide better insurance options and help his clients better understand how to get the most out of their insurance.
Jordan's insurance focus
Jordan wanted to ensure he could service those in his community the best he could so he became a licensed insurance agent in West Virginia as well as Ohio. This license will allow him to protect the personal insurance needs of the people as well as their businesses.
While Jordan has the knowledge and also the experience to help just about anyone, he likes to focus on a few demographics that are close to his heart.
Personal insurance focus
If you have a personal insurance need (home, auto, health, life, etc...) Jordan can likely take care of your needs and will do so sincerely. However, there are 3 areas where he actively looks to take care of.
Newlyweds - Having been married only 3 years, Jordan makes himself available to help those who are newlyweds and those who will be married soon. He understands newlywed insurance and the changes a couple will undergo with their insurance.
- Wedding insurance
- Homeowners insurance/ Renters Insurance
- Joining auto insurance policies together
These are some of the areas Jordan helps newlyweds understand allowing them to focus on something more important; each other.
Auto insurance - Jordan understands the importance of auto insurance in everyone's household. With so many voices telling us to "buy this type of insurance," "get insurance online here," "call this 800 number for the cheapest rates" it is important to have an insurance agent you can meet with personally and get an honest opinion. He offers more than just State minimum coverage in West Virginia. Instead of trying to fit a product to match your preferences, he will take a look at your preferences and look for a plan that fits your needs.
Health insurance - With the many changes citizens are facing with new health insurance regulations, Jordan wanted to be there for the people. He took the time to understand how West Virgina health insurance would evolve so we are not alone to figure everything out. There are many independent health insurance plans he can provide but he can also help you understand what the health insurance marketplace is.
Business insurance focus
Jordan loves helping small business owners with their needs. Being a service to small business owners and seeing how their businesses are run is one of the joys he receives as being our top West Virginia insurance agent.
Jordan has found that his decision to become an insurance agent is not just for his benefit. Friends of his that have become business owners can now benefit from his knowledge and experience.
While he offers his services to all industries there are a few that he knows he can provide the best service to.
- Auto dealers
- HVAC companies
These are just a couple of the industries that Jordan has found unique insurance strategies for. Chances are, if you come to him with your business insurance needs, he will likely be able to customize a unique and affordable business insurance policy for you.
Jordan is helping beyond insurance
Diversified Insurance Service's Mission is "We see beyond insurance to protect individuals and businesses by offering Innovative Solutions." I believe Jordan does an excellent job in following through with this mission. Offering insurance in West Virginia is obvious for an agent living in the area, but Jordan offers more than just insurance quotes.
If you get in touch with Jordan there are a few tools he can give you further details on.
OSHA, workplace safety, cyber liability, minimum mod awareness; how much do you actually understand when it comes to all of these items? If you are a business owner, your focus is likely on your business and not on all of these other topics. Jordan provides information on these, as well as different topics, through his free monthly newsletter.
Jordan also connects his clients to a free resource that allows them to find information on OSHA, how to save money on workers comp, as well as industry specific items that will help your business survive and thrive.
For your personal life
In some ways technology has complicated things, but we've found it useful in making our clients' lives a little easier. Sometimes the insurance process can be a little cumbersome. If you do business with Jordan however, he may be able to smooth out the process a bit for you.
When insuring items in your home, without a home inventory you may lose valuable items when the worst happens to your home. With Readylife you can manage your home inventory needs in one place. This also doubles as an online wallet and disaster planning tool.
Clients of Jordan also have access to CSR24 and Diversified Insurance Service's phone app. These online tools allow you access to your insurance information, print insurance ID cards, file claims, find the closest agent, and more; 24/7 - 365.
In addition to all the free services, Jordan also wants to help you save time and money. Our newest service is called Doctor Online 24/7 which is a way to be seen by a doctor without having to wait in a germ infested waiting room.
Get in touch with Jordan
Your preferred West Virginia insurance agent is waiting for your call. Even if it is not renewal time for you, Jordan can review your options and give you a call when it is time. Call 877-357-8049 to be directed to Jordan or contact him online and he will be with you as soon as he is available.
Technology has brought us many great things but being able to get checked out by a through a computer or smart phone has to be one of the coolest innovations yet. With Doctor Online 24/7 there is no need to wait in a germ-infested waiting room, or get up when you are feeling really sick and drive to the hospital. You will have access to a Board Certified Licensed Physician from the comfort of your own home.
Testimony from a real parent
This past winter in Ohio was very hard in terms of weather conditions. We hit record lows and the large amount of snow kept us in the house most days. In the midst of this terrible winter my wife, and my 4 year old son got the flu.
With adults it is sometimes easy just to rest out the flu from home, but with children sometimes things are a little more complicated. We had to decide whether to take care of our son from home or bundle him up and take him out in the negative degree weather, through the unplowed streets just to be prescribed Tamiflu and sent home.
With Doctor Online 24/7 we may have been able to get a prescription from our own warm home and I could have driven down the road to the pharmacy and been back to take care of my family.
How does doctor online work
Doctor online works just like a doctor visit would work, but instead of getting in your car and driving, you just turn on your computer. You can log on straight from your computer or you can call using the toll free number. Just like at the hospital or ER you will speak with a registered nurse for your triage and assessment first. Then you will receive recommendations for treatment or a licensed physician will speak with you to further examine and/or prescribe medication for you.
No insurance is necessary and this service can be used anywhere. You do not even need to be by a certain pharmacy to pick up your prescription. When prescribed a medication from Doctor Online, you will be able to pick it up from the pharmacy of your choice and they can even give you directions.
With Doctor online you do not have to pay for every use, you simply pay a small monthly rate. The rates vary depending on plan and so does the amount of free visits you will receive. There are no hidden fees, no co pays and no deductibles.
Using Doctor Online is that simple.
Doctor Online can save you big bucks on health care this year
When looking at Doctor Online, don't think of it is as another health care expense, but instead look at how much it can save you on health care expenses.
Generally speaking, a doctor visit is never free when it comes to out of pocket expenses. Even with health insurance you likely have to pay the deductible and co pay when you visit the doctor or ER. This can cost you hundreds and sometimes even thousands for just one visit, but by using your doctor online account you will save by not having to pay the copay or deductibles.
The service itself is a great way to save money but there is an additional benefit for members. Members will receive a discount card that will offer them up to 70% in savings on generic and brand name drugs.
If you're pinching pennies doctor online can even help in small additional ways. Some of the hassle of going to the hospital is that you may have to spend the gas to travel and you may even have to take off work to sit in a waiting room half of the morning.
How to purchase this service
Doctor Online 24/7 is not available from all insurance agency's. Diversified Insurance Service is one of the exclusive distributors of this service. fortunately they make it simple for you to get.
You can call and allow them to register you right away or if it is after hours you can request an account and someone will be with you as soon as possible.
The most expensive plan is only $19.95 per month, which is less than your cell phone bill. Start saving money on health care and making your life a little easier. Call 866-926-1308 to request your Doctor Online account or visit www.divinsurance.com/webdoc-24-7.
Renters insurance for college students is not often discussed. Some individuals do not think it is necessary, some do no believe they have enough stuff worth insuring, but most simply do not know what is at risk or that renters insurance for college students is even available.
This blog will help you understand what renters insurance covers and who actually needs it.
What is renters insurance and what does it cover?
Renters insurance for college students is designed to protect the things that are important to them as well as the things they can not afford to replace. The basis of renters insurance is simple. If something happens to a student's property, and it is damaged, (reason for damages must not be an exclusion in the policy) you will be able to file a claim allowing you to replace your property with little out of pocket expenses.
Renters insurance can cover just about any property a college student may have with them. Some of the most common property covered under a college student renters policy includes:
- Laptops/tables/smart phones/other electronics
- Video games
- Sporting Equipment
- Room Decor
Could you easily replace any or all of these items? If your child is a college student or if you are a college student, go and take an inventory of all the property just in your bedroom. Chances are there is thousands of dollars worth of property just in the bedroom. The likelihood you will want or even be able to easily replace all of these items is probably slim to none.
What could happen to a college student's property?
College is one of the times when one will most likely use a renters insurance policy. Many things could happen to one's property and often does.
Living on or near campus, especially with roommates, puts one in a high risk situation for theft. College campuses often have burglary reports due to the value and ease of break ins. A roommate may invite people in while you are gone and items come up missing. Theft is one of the risks covered in a renters policy.
Living within a complex (and often old) building can put you at the risk of others. Someone floods the floor above and the water gets into your room. Someone starts a fire and it burns down the entire building. The pipes freeze over winter break and burst leaving the home flooded and property destroyed. These are all common occurrences that can lead to huge losses. Renters insurance however covers most incidents that can happen within a home.
It is pretty easy to see why renters insurance is needed and how a college student's property can easily become damaged or stolen. While the importance of renters insurance is undeniable, it is not necessary for every college student.
Who need renters insurance?
Renters insurance is extremely important, but for some, it is just not necessary. Where the student lives is a major factor in whether they need insurance. They can also take into consideration their parents' coverage and their school's coverage for them. You may find that coverage is already sufficient and renters insurance may not be necessary.
Let's take a look at a couple different situations:
Living in a dorm
Before moving into a dorm check the school's policy on student losses. While most college's do nothing, some may reimburse you for specific instances. Even if they extend a small amount of coverage to you, it is still usually not enough to protect a student's property completely.
If a parent has homeowners insurance, their coverage will likely extend to their student's dorm. Depending on the policy, there will likely be coverage limits for the property at school. Do a home inventory of the items needed to be covered to discover whether there will be enough coverage or not.
A college student living in a dorm may not need renters insurance if their parents' policy covers them but remember that the full homeowners insurance deductible will apply. If the homeowners policy has a higher deductible, it may be better to purchase a renters insurance policy to save yourself on out of pocket costs if a claim is ever needed to be filed.
Living in an apartment
Living in an apartment is one of the easiest situations to identify that you need renters insurance. That is the main purpose for renters insurance. However, not all students living in an apartment need renters insurance.
For some, their apartment is just for the school week. They come home on the weekend and only have limited items they keep in the apartment. If this is your situation it may be ok to not have renters insurance just remember that anything brought into the apartment is at risk and not covered. Just to be safe one can still purchase a renters insurance policy.
Living in a fraternity/sorority house
When we hear the word "house" we think of homeowners insurance. Believe it or not but most of these sorority and frat houses are actually insured. There is a problem however because many people do not know what coverage there is.
The homeowners policy will likely cover the building and liability but may not cover a college student's personal property. Even if it did cover all the property of those living there, if the house burned down there will not be enough coverage for everyone's property to be replaced.
A renters insurance policy is recommend for those living in frat or sorority houses.
How much does renters insurance for college students cost?
One of the good things about renters insurance is that it is designed to be simple and very affordable. The rates will vary depending on how much coverage the insured needs and the deductible that fits them best. The lower coverage one has the lower the rate they will get and the higher deductible one has the lower their rates will be.
For everything a college student needs insured the cost of renters insurance is great. For less than a cell phone payment one can likely insure everything. Renters insurance is often less than a dollar a day and compared to all the money a college student will spend in a years time it is just a drop in the bucket.
If you are looking for renters insurance our agents can help you find affordable rates. Call us at 877-357-8049 or contact an agent online. Our agents will be able to give you quotes or answer any renters insurance questions you may have.
Inland Marine insurance, also known as a "floater" policy, is an effective way for one to protect their valuables. Originally, inland marine was created to protect items and equipment while in transit on sea voyages. Now, inland marine insurance allows individuals and businesses to protect valuable items without the hassle of going through their property insurance.
Inland marine insurance cannot always replace the sentimental value of a specific valuable, but it can reimburse you financially if something goes wrong.
Insuring your valuables
Most people insure the obvious large investments; their homes, their vehicles, their businesses and their health. Whether individuals believe that their valuables will not be damaged/stolen or if they just do not realize the need for insurance, people often ignore neglect the necessary insurance for their valuables.
There are really two ways to insure your valuables:
1) Homeowners or property insurance coverage
Whether you realize it or not, if you have homeowners insurance you already have coverage for your valuables. A common loss for your personal property is when the entire home is destroyed, or damaged. A fire may break out causing damage to your home and your personal property. In a situation like this, your homeowners insurance will kick in and you will have a specific amount of coverage to cover all of your personal property.
You may also purchase extended coverage for your valuables. The personal property portion of your homeowners insurance generally only covers around $1000-$3000 worth of property depending on your policy. So if someone steals valuables from you or another event causes damages to your jewelery you are limited to the amount listed under your homeowners coverage. An extended coverage will allow you to increase the limits but there will still be a maximum amount you will be able to claim for your valuables.
Both of these options will work to some extent but if you have expensive items in your home and everything is stolen, there may not be enough coverage to replace every one of your valuables. Also keep in mind that with these coverages you will need to pay your homeowners deductible when filing a claim.
2) Inland marine insurance
Inland marine insurance does not come as a standard coverage in your homeowners insurance, but it is an endorsement you can add to it to better protect your expensive valuables. This coverage is designed to give you broader coverage over specific items allowing more comprehensive coverage for your valuables.
If an expensive item was stolen, misplaced or lost, inland marine insurance will provide the financial reimbursement to help you replace the item. There is often a low deductible or none at all allowing you to replace your item with little further expense and without filing a claim on your homeowners insurance.
To determine whether you need inland marine insurance or if your homeowners insurance is enough coverage, take a look at the items you are worried about covering. If you are worried about all of your personal property (clothes, electronics, inexpensive pieces of jewelry, or other items that are easily replaced) than your homeowners insurance is enough, but if you are worried about specific expensive items (jewelry, furs, antiques, art, or other items that are valuable or go over your personal property limits) then inland marine insurance should be considered.
How does inland marine work?
Before considering inland marine insurance it is important to know how it works. Let's say that my wife's wedding ring is worth $7500 and I want to insure it in case anything happens.
First step we will take is to check our current coverage. I check the ring warranty which I find out theft is not covered. I check our personal property coverage and there is only $3000 I can claim for one item. Under my current coverage, if my wife's ring is stolen, I will have to pay our $1000 homeowners deductible and then they will provide me with $3000 to purchase a new ring. So I will end up with $2000 total to replace my wife's ring. This shows me that I need more coverage which leads me to decide to pick up an inland marine policy for the wedding ring.
Next step I will need to get my wife's ring appraised to have on record the exact worth of the wedding ring. This will show the dollar amount needed to replace the ring which may have decreased or increased with time. The receipt is also good to keep especially if it is a newer piece of jewelry.
Once I have my wife's ring appraised I now know how much coverage I need. When purchasing an inland marine insurance policy I can decide the deductible I want. Choosing no deductible is convenient because I will not have to pay any money out of pocket if the ring is stolen. On the other hand I will likely choose a small deductible, this will allow me to keep my rates lower but also will allow me to replace the ring without feeling like I'm purchasing a completely new ring.
What items in your home should be insured?
Inland marine insurance is not for everyone and not for every expensive item. Many items are low enough in value that your homeowners insurance can cover them. Especially if you have many items that are expensive, it may be more efficient to just increase your personal property coverage on your homeowners insurance.
Most of the common items that are insured with inland marine insurance are:
- Very expensive - more than the item limit in one's homeowners insurance
- One of few expensive items in the home
- Sometimes rare or sentimental
- Not easily replaced
You know if you have a very expensive item that needs to be insured, but sometimes the line gets fuzzy on whether it needs inland marine insurance or is ok under your homeowners policy. An agent can help you determine which items in your home should be covered under an inland marine policy.
Contact Diversified Insurance Service and speak with an agent who can help you decide what coverage you need to insure your valuables.
RV insurance is very similar to an auto insurance policy except more specialized to fit your needs. Although every policy will have the same basic coverage, your specific RV insurance should be customized for your RV use.
To get the best possible RV insurance policy, it takes knowledge of what is included in your policy and what items you can leave out. This blog will help you discover what is available to you and how to use this information to make the best RV insurance decision. Our agents are also available to discuss your RV insurance options as well as provide quotes from top companies.
Understand Basic RV Insurance Coverage
Basic RV insurance coverage is going to be about the same for everyone. There are a few variations; rates, limits, endorsements, etc... but the standard coverage will be close to the same.
Basic RV insurance coverage will cover the core risks of driving an RV. Your personal well being, your passengers, your property, others on the road and of course your RV are all protected under the most basic RV insurance coverage.
Basic coverage will include:
Collision Coverage - This coverage will protect you when you are in an accident. It covers damages done to your vehicle and will even extend coverage to a utility trailer if you have one.
Comprehensive Coverage - This coverage acts the same as collision coverage except it protects your RV when it is parked. Comprehensive coverage will reimburse you for repairs when your RV is damaged due to a fire, vandalism, windstorms or other included events.
Liability Coverage - This coverage protects against damages to others' property and also personal injury to individuals. While collision and comprehensive are important, it is possible to purchase a liability only RV insurance policy which would have lower rates.
While everyone's policy will have these coverages (at least liability insurance) the limits will depend on each individual's needs. A more expensive RV will need higher comprehensive and collision coverage to replace it if totaled while an inexpensive RV or one that can be easily replaced could be better off with a liability only policy.
A more in depth look at RV insurance
Knowing what your basic RV insurance looks like is important because it protects against close to 80% of your risk as an RV owner. Full protection will differ from person to person. Not everything you deem important will be covered under a basic RV insurance policy so knowing what is important to you and what is available is important when it comes to fully protecting your RV.
To help you discover what is best for your RV experience, let's break down it down between full time RV'rs and the occasional rider.
Part Time RV'r
Riding in your RV seasonally, or just when you get the chance to take an occasional vacation may only require you to purchase a basic RV insurance policy. There are however additional endorsements you may want to add on to your policy.
- Roadside assistance
- Emergency expenses
- Accessories coverage
These are just a couple of some of the endorsements that can be added to your RV insurance policy. Are there items inside your RV that need you would want covered in case of damages or theft? If your RV breaks down on the road would coverage to have it towed to the nearest mechanic be beneficial? Are there other items of concern you have that may not be covered under a basic RV insurance policy?
An RV insurance agent will be able to help you identify items that are not included in your standard policy and also show you additional coverages that will help protect the items that are important to you.
Full Time RV'r
If you are a full time RV'r you will want a little more coverage than someone who just occasionally takes their RV out. Chances are your well being (or at least your way of life) depends on being able to repair or replace your RV quickly if the worst happens.
To ensure you are protected at the level you should be, you will need a Full-timer RV insurance policy. Unlike a basic RV insurance policy which is much like an auto policy, a full timer RV policy works like a homeowners insurance policy.
Not only is this a better option to protect yourself but it is often times required if you use your RV as a primary residence.
For more details on how to protect your RV, what options you have available, possible discounts, or quotes, contact Diversified Insurance Service.
Motorcycle insurance for seasonal riders is a great way to protect yourself without having to break the bank. It is unfortunate if you are forced to only ride seasonally, but it does provide benefits to your insurance.
With a little bit of help, motorcycle insurance is easy to understand. This blog will allow you to better understand motorcycle insurance and how it may be different for seasonal riders. To discuss this topic with a real person who can also provide quotes, contact Diversified Insurance Service.
Motorcycle insurance coverage for seasonal riders is similar to your standard motorcycle insurance coverage. Essentially the same basics are covered; your bike in storage, your bike on the road, you, any passengers and the others on the road.
Standard motorcycle insurance includes:
- Comprehensive Insurance
- Collision Insurance
- Liability Insurance
- Uninsured Motorists Insurance
With a basic definition one can easily understand what these coverage types cover. Comprehensive coverage protects your motorcycle while it's stationary or in storage, collision coverage is for when you are in a collision on the road, liability coverage will protect you financially if someone is injured or their property is damaged and uninsured motorists coverage provides protection if another driver on the road causes an accident but does not have insurance or enough to cover all of your damages.
While your basic coverage is designed to protect the main aspects of riding, there are additional options you can add onto your motorcycle insurance policy. A couple of these optional policies include roadside assistance and custom parts coverage. If there is an area of concern or additional items you want to ensure are protected, bring them up to your insurance agent and they will be able to provide you with a solution.
Benefits of seasonal motorcycle insurance
One can easily see how similar motorcycle insurance for seasonal riders is compared to a standard policy. However, because you will ride less than someone who rides all year, there is less risk for the insurance company allowing you to benefit financially.
Here are some of the financial benefits that come along with seasonal motorcycle insurance
- Lay up insurance
- Multi policy discounts
- Affinity discount programs
Lay up insurance will allow you to enjoy savings during the times you are not able to enjoy your bike. Layup insurance will basically suspend your collision coverage for a set period of time. If you are certain that you will not be able to take your bike out for a certain period of time, lay up insurance is a good idea for you.
In addition to the the lay up insurance there are other financial benefits to motorcycle insurance for seasonal riders. If you choose to bundle your policies you can save up to 10% on your insurance premiums by adding a motorcycle policy. Depending on your insurer, you may also get discounts by being a member of certain community groups.
What coverage is best for a seasonal rider
Knowing what your motorcycle policy will cover is very important. Is there enough coverage to replace your bike when the worst case scenario happens? Is everything that is important to you protected? Is your policy affordable enough?
Contact a Diversified Insurance agent to ensure that your motorcycle insurance is customized specifically for your needs.
Wedding insurance is often recommended by vendors, wedding planners and insurance agents but a little research is understandable. Being a recent newlywed I know that the last thing you want to do is waste money on something useless that could be better used for the honeymoon.
When it comes to wedding insurance, it should be a choice you make for yourself, not because someone told you it is a good idea. Knowing what is covered, how much wedding insurance costs and your different options will allow you to understand for your own situation if wedding insurance is worth it for you.
Liability and Property Damage Coverage
Liability insurance protects you from the financial problems that arise when someone is injured at your wedding. If someone is injured, whether it is their fault or not, can potentially sue you.
Often times these cases result medical payments, time off work, and any additional costs resulting from the injury. A small liability suit can easily run up thousands of dollars in payments and legal fees. Not ideal after paying for a wedding.
Sometimes venues may even require you to have liability insurance in order to book your wedding with them.
Wedding liability insurance is a small price to pay for the financial benefits it can provide. Wedding liability insurance costs as little as $165 and provides $1,000,000 worth of coverage. In addition to the liability coverage wedding insurance comes with property damage coverage.
Property damage provides coverage in the event something is damaged during your wedding. Someone trips and crashes on the DJ booth, don't worry, you're covered. A fight breaks out where the venue's property is damaged, you're covered. The basic wedding liability insurance rate comes with $25,000 worth of property damage coverage.
Expense coverage can cover a long list of items. Anything can happen at your wedding. Special items can be damaged at the wedding, clothing or jewelry can be damaged beforehand or the entire wedding could be canceled due to weather or illness. Wedding insurance costs will vary depending on how much coverage you want for the insured items.
Here is the list of items which will be protected under your wedding insurance policy:
- Event Photographs/Videos
- Special Attire
- Special Jewelry
- Lost Deposits
- Additional Expenses
From damaged items to a scheduling failure or even illness, wedding insurance will cover these items. A one time premium payment will provide coverage for one or all of these items without needing to pay a deductible.
The most basic of wedding insurance costs $160 and will provide thousands of dollars worth of coverage for all of the listed items.
Weddings can get quite interesting when alcohol is involved. Anything can happen and sometimes things get broken... or people get hurt. You may have liability insurance and property coverage but many insurance companies will deny a claim when alcohol is involved because it is under the listed exclusions.
If you plan on having liquor at your wedding, liquor liability might not just be a good idea to protect yourself but the venue may even require it.
In most cases liquor liability is an optional addition to your weddings insurance but fortunately it is relatively inexpensive. Liquor liability costs as little as $50 but the rate varies depending on the amount of guests at your wedding.
The Best Wedding Insurance Option
Every wedding will need a little different coverage depending on what is required by the venue and what the couple wants to protect. Some decide they want liability only, others only want the expense coverage and some combine all three.
What are the most important aspects of your wedding? You can contact one of our agents to help you with your wedding insurance needs or visit our website which will allow you to see the exact wedding insurance costs for the different levels of coverage.
Congratulations on the engagement! I wish you all the best!
Short term health insurance, also known as temporary health insurance, will provide coverage when a standard health insurance policy does not fit your current needs. If you are waiting on your standard health plan to come into effect or you are in a position where you need the additional coverage, short term health insurance will provide an affordable way for your health insurance needs to be met.
With help from an agent you could be approved for a policy as early as tomorrow. Contact an agent to get quotes and discuss what type of short term health insurance policy can work for you. Not sure if short term health insurance is for you? Read the rest of this article to learn about short term health insurance and explore the uses.
What is short term health insurance and how does it work
Short term health insurance is exactly what the name implies. If you are familiar with health insurance, you can easily understand short term health insurance. Just like a standard health policy, a short term policy can provide dental coverage, vision, medical and even accidental death.
Unlike a standard health plan, it will only provide coverage for a temporary amount of time. This period can be from 1 month to 12 months depending on the plan but many plans only have a 6 month maximum duration. If you understand health insurance, you will easily understand short term health insurance.
Uses for short term health insurance
Short term health insurance is not for everyone and not every short term policy will match your needs. Your reasons for looking into short term health insurance will determine what you need out of a policy.
Common needs for short term health insurance
- Gap coverage when one is in between jobs
- Mission trips
- Temporary coverage for students at college when out of their parents' network
- Coverage while a child is at camp
- Coverage for an extended business trip
Do you need a short term policy to match the standard health insurance policy you're used to? Do you just need a low cost, low deductible plan that will provide some type of medical coverage because you or a family member will be out of your network? Can you afford standard health care but just need a policy in case the worst happens while traveling?
Knowing why you need a policy and what type of coverage you would like will allow an agent or yourself if quoting online, to better find an affordable policy that best fits your needs.
Costs of short term health insurance
One of the very nice things about short term health insurance is that it is affordable. Some plans can provide coverage for less than a dollar a day. When looking for insurance we often go with the best rate which is smart but when it comes to health insurance policies there are other costs associated with it that could cause us to pay more out of pocket.
A deductible is what you will pay out of pocket before the insurance company coverage kicks in.
When determining a deductible the most important thing is finding one you can easily afford to pay. A health insurance policy does you no good if you can not pay your deductible, which basically leaves you with no help from the insurance company. A lower deductible may cause your monthly rate to go up a couple dollars but it could end up saving you literally thousands if an accident occurs.
Copay is something you will pay out of pocket for a specific service.
For example: an ER visit may cost $100 copay and a doctor's visit may be $25. Depending on the policy your copay may vary or you may have no copay at all.
Coinsurance is the percentage of the medical bills you end up paying after your copay and deductible.
Many short term health insurance policies have a coinsurance of 20% or 30%. So after you pay your deductible and copay, if your doctor bill is $10,000 you will end up paying another $2000 out of pocket with a 20% coinsurance.
Your coinsurance is another aspect that could determine a large amount of what you pay. Some policies have a 0% coinsurance and some can go over 50%. A lower coinsurance may cause you to have a higher monthly rate but it will allow you to better budget for any problems that may come about.
Getting the best plan
Figuring out every aspect of your plan can sometimes be difficult, especially if you do not fully understand everything involved with health insurance. Speaking with an agent can help you understand it a little better and they can also show you plans to give you a better idea of what you will be purchasing.
Contact one of Diversified Insurance Service's agents today for help.
The way life insurance works depends on the type of policy you own. While every policy has the same core function (Leaving a financial safety net for those who depend on your support) they are specialized to better meet the insured's needs. Knowing how life insurance works will help you decide if life insurance is for you and what type of policy you need.
Types of life insurance
Knowing the different life insurance policies will allow you to see which policy will work best for you. Here are the main life insurance plans you will encounter:
Term life insurance - This is about the most basic life insurance policy you can own. Term life insurance will be set within an agreed term (10 years, 15 years, 20 years, 30, etc....) and an agreed payout. If the insured passes away within the term then the benefactor will receive the payout. This is good for those who just want a security blanket for their family. If you want to leave a way for your family to pay off their debt (mortgage, car payments etc...), pay bills, cover your burial expenses and have an income until they can provide for themselves this is a good investment.
Whole life insurance - This policy is a little more complex. Instead of being insured for a set period of time, this life insurance policy will be permanent. Through the years with a whole life insurance policy you will build up a tax deferred cash value. As you pay your premiums over the years, you will be able to make withdraws of the built up cash supply. This policy not only allows you to protect your family from hard times if you were to pass away but also while you are alive.
Other life insurance policies - Universal life insurance, final expense life insurance, variable life insurance policies; while whole and term life insurance are the main two, there are also more flexible policies depending on one's exact needs. Want more flexible benefits, want the potential for a faster growing cash value? If a standard life insurance policy does not fit your needs, look into a more flexible policy to get exactly what you are looking for.
Breakdown of how life insurance works
Now that you understand the difference in life insurance policies, we can break down how the policy actually works. To demonstrate lets pretend that you are going to purchase a term life insurance policy.
1. You will need to add up your family's debt, expected burial expenses, and your annual income (you may want to multiply this by 3-5 to give your family ample time to recovery and get on their feet) and this will give you a good idea of how much life insurance you need.
2. Talk with an agent about your specific needs and they will find a policy that will match. They can provide quotes and more insights into the policy itself.
3. Once you have found an affordable rate, you will decide on the benefactor(s) of the life insurance policy and set how you will handle the monthly payments.
4a. If you outlive the life of your policy the policy will end and you no longer make payments. At this time you can opt to stay uninsured or purchase another policy. (a whole life policy may still give you a payout at the time of the policy expiration.)
4b. If you happen to pass away during your policy's term, the benefactor(s) you have chosen will be able to claim the agreed upon payout. The payout will happen rather quickly and there should not be any issues with receiving the money.
The basic understanding of how life insurance works is rather simple. You purchase a policy to help take care of your family (or someone special) in the event of your untimely death. The details of life insurance however can sometimes be confusing. To make sure you are getting the best policy for your situation, speak with a knowledgable agent. They will be able to provide you with quotes, resources or just help you better understand how life insurance can work for you.