Personal Insurance
Featured Articles:
Wedding Insurance - Say "I Do"
by: Sheilah Marshall
Many brides ask whether or not they should purchase wedding
insurance. In my opinion the answer should be an unequivocal "Yes."
According to TheWeddingReport.com the average cost of a wedding
today is more than $26,000. That's more than some people pay for a
car, and you wouldn't think of not insuring your brand new car,
would you? It just makes sense, then, to purchase a wedding
insurance policy that will cover many of your wedding costs if you
need to postpone or cancel the ceremony and reception. This type of
wedding insurance is crucial especially if your cost of rescheduling
the wedding will be very high.
Many couples overlook wedding insurance when planning a wedding
because they don't believe they will need it. After all, there is
nothing romantic or exciting about wedding insurance and what could
possibly go wrong. If you were to ask couples who had their wedding
and reception planned in New Orleans before Hurricane Katrina hit,
what advice do you think they would give you. Now a hurricane is an
extreme weather condition, but wedding insurance provides coverage
for just such a weather event. Wedding insurance, however, will not
cover postponement of your wedding due to a rainy day.
Once you've selected your vendors and submitted your deposits, you
have made a serious investment. Wedding insurance protects your
investment throughout the planning process, and the event itself.
Consider these events that are covered in your wedding insurance
policy.
*the caterer or your reception venue closes down unexpectedly before
your wedding
*your wedding photographs are damaged or lost
*a family or wedding party member is injured or becomes ill or dies
*lost or stolen wedding rings*
*your wedding attire (if your dress is damaged or fails to arrive)
Sorry kids, you're out of luck if either of you gets cold feet.
Changing your mind at the last minute is not covered by wedding
insurance.
Just like any other type of insurance, you can purchase wedding
insurance in a number of different policies. When compared to the
cost of the event itself, wedding insurance is relatively
inexpensive and as important to your special day as your bridal
gown, cake and flowers. Whether you are having a destination wedding
or a large wedding in your home town it is a good idea to purchase
insurance for your wedding and a small price to pay for peace of
mind.
About The Author
Sheilah Marshall is a wedding planner/decorator and webmaster. For
wedding supplies and more wedding related advice visit us at
http://www.allthatsclassy.com
Title Insurance Companies Must Change Their Ways
by: Mark Pilatowski
In the last few years the real estate title industry has been in the
news a lot more and usually it is not because of the good things
they are doing. Most of the news has revolved around the illegal
kickbacks and gifts they are giving to brokers in return for more
business being sent their way. The latest story is from Washington
and involves homeowners suing title agencies for providing illegal
gifts to brokers and passing on extra charges to the customers,
http://seattlepi.nwsource.com/business/289185_title19.html. These
stories have become far too common and in the Internet age it is
only a matter of time before anyone who is in need of title
insurance will be able to find similar stories. Because of the
increased knowledge title insurance providers should take heed and
change their ways. There is no way to hide this information from
consumers and those title companies who are engaging in these
illegal practices will pay the price and rightly so.
Before I go any further I need to discuss exactly what Title
Insurance is. Title Insurance is an insurance policy to guarantee
your ownership against claims, liens or judgments that might arise
after your purchase or loan has been completed. Title insurance
providers research and certify ownership of real estate before it is
bought, sold or refinanced. They search state and municipal public
records for the property and persons in the transaction. The
investigation is thorough and complete. The title company will
notify you and your attorney or lender of any claims that may
challenge your ownership or the new loan on the property. Title
insurance is a requirement in almost every state in the US and it
serves to protect lenders and homeowners against losing their loan
or home due to title inaccuracies or deceit.
The problems arise when title companies attempt to buy their
business from real estate brokers, attorneys, and/or mortgage
brokers. The practice of giving gifts and kickbacks in return for
additional business is illegal in every state but many title
companies ignore this. This practice has been ingrained in the title
industry and the fact that customers were unaware of it has made it
highly profitable and difficult to discover. That is until recently.
Customers are becoming better educated on the closing process and in
turn what title insurance is and how much it should cost. One of the
biggest reasons for this is because of the increased availability of
information because of the internet. Consumers now have instant
access to all the information they want with a couple of clicks of
their mouse. Title companies can no longer hide what they are doing
from their customers.
In the past most consumers were unaware that they could choose their
own title insurance company and instead used the company that their
broker or attorney recommended. The fact is that this is just a
recommendation and customers have a right to choose who they want to
use for their title services. Armed with this knowledge customer
have the ability to shop around and find the best price for their
title insurance. When looking for a title service customers need to
ask for a detailed breakdown of all fees and charges from each
company and determine the best price. If a company refuses to give
this information or try to tell you it is an estimate and the price
may change at closing they are obviously hiding something. These
companies should be eliminated immediately. Once the information is
obtained from a number of companies the customer should review
everything and choose the company they feel most comfortable with.
And remember some brokers and attorneys rely on gifts and kickbacks
so they may try to convince customers that they can’t choose their
own title company or otherwise try to steer them away from the
customer’s choice. If that happens they should look closer at the
broker or attorney who they are working with because they are being
less than honest about this. The customer can have all of the power
if they properly educate themselves.
As more and more problems are being exposed in the title industry
space is opening up for companies who are willing to change the way
the title industry works. Companies like myClosingSPACE
(http://www.myclosingspace.com) are trying to change the way
consumers view title insurance and closing services by offering
services directly to the consumer. They do not rely on leads from
brokers or attorneys and as a result they do not need to rely on
kickbacks to get increased business. Their goal is to educate the
consumer and give them the lowest possible rates and they can do
this because they are not adding junk fees to cover the cost of
gifts and kickbacks that other title companies have. My Closing
Space offers flat fee charges for title and settlement services and
the quote that is received on the website is what the consumer pays
at closing, there are no hidden charges that pop up during the
closing process. What you see is what you get.
As the title industry gains more and more negative exposure title
companies who are trying to change the way the business works will
see more room for themselves in the market and this will greatly
benefit consumers. When consumers are shopping for a home, mortgage,
or even a refinance mortgage they do plenty of research to get
exactly what they want and title insurance & closing services should
be no different. It could mean the difference of thousands at
closing. The internet helped consumers find new alternatives when it
comes to mortgages and as they become more educated they will
realize that they can save a significant amount of money by learning
about title insurance and shopping around.
About The Author
Mark Pilatowski is a title industry insider and has followed the
litigation surrounding the title industry for the past few years.
Because of the problems with other title companies he joined the
team at http://www.myclosingspace.com. My Closing Space offers Title
Insurance and closing services direct to the consumer without the
junk fees and kickbacks that other title companies charge.
How To Get The Right Travel Insurance And Save Money
by: Andrew Moore
You are ready for your dream holiday, but there is that one
practicality left - insurance.
While there is no doubt that travel insurance is necessary, and not
something with which you should do without, finding a policy which
is not only cheap, but also offers the correct levels of protection
for the activities on your vacation can be both daunting and boring.
With countless pages of policy small print and get-out clauses for
the insurer, it can seem almost impossible to find what you want for
a good price.
The majority of insurance policies do have reasonably comprehensive
cover, and can often be purchased including dangerous sports such as
skiing. However, the complications arise when it comes to
deductibles and health situations, such as pre-existing problems.
For example, what happens if you do need to go to hospital in a
foreign country? Will the insurance company pick up the bill, or
will you have to claim and pay at the time. This will not be
suitable for a lot of travelers on a lower budget, but is the way
that most policies work. There are many gaps and get-outs in travel
insurance policies, and you will need to spot them in advance,
should a problem arise.
Most policies cover trip cancellation, robbery, lost baggage,
medical, dental and accidental death coverage, but you may also find
emergency evacuation, insurance against delays, lost documentation
and 24 hour travel assistance.
The key to finding the best deal is to shop around yourself - Don't
simply buy your travel insurance from your travel agent. Here are a
few reasons why:
- The coverage will not be as good.
- The policy will be less flexible.
- It may duplicate areas that you are already insured for.
It may seem like a better deal at the time to buy your insurance
from your travel agent, but remember that they are not specialized
in this area, and will only be offering an out-of-the-box policy
from some partner insurance company, which they will make money off.
As with most things, you are better off doing your research, and
arranging it yourself.
When buying your policy from an insurance company:
- Get quotes from as many companies as you can.
- Read the small print. Does it cover your intended activities?
- Can you waive the pre existing condition exclusion.
- Find out what types of cancellation the insurer will not pay out
for. Again, it comes to carefully reading the policy details (I know
it's boring, but it is necessary)
- Finally, if there is anything you need to know - Ask! There is no
point in having the policy if you end up unable to claim.
Wishing you a fantastic trip, and an unused travel insurance policy!
Go to http://www.destroy-your-debt.com/insurance for more
information.
About The Author
Andrew Moore is the webmaster of http://www.destroy-your-debt.com, A
site dedicated to providing free impartial advice concerning
financial matters, as well as insurance. Visit our Insurance pages
at: http://www.destroy-your-debt.com/insurance