The W.H.O. has declared the COVID-19 a pandemic. It has struck a lot of fear in the community. People have decided to hoard toilet paper. I’m not sure why toilet paper is the item to hoard. First thing to remember is it seems if you’re relatively healthy you will be ok. We can take some precautions by washing our hands regularly and not touching your face. Since I was told not to touch my face, it seems my face itches a lot. At times like this, we stop and think about a lot of things. One of those things is our families and how important they are to us. Have we shown them how much we love them? Have we spent enough time with them? Have we made proper arrangements in the unfortunate event of our demise? Having enough life insurance set up is essential for your loved one’s financial stability if you are no longer around. My best advice is to give your life insurance plan a three-leg approach. 1. Max out on your life insurance policy at work.
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HOA Sued for $20 Million
Are you in a HOA? If so this is very important to you!!!! There was a case in Nevada that a HOA was sued in court and lost a 20 million dollar lawsuit. What happened was a kid was sitting on a swing set. The top bar came loose and struck the kid in the head causing great injury. Here is a link to the news video below. A typical insurance policy for a HOA is 1 million dollars and there is a policy to cover director and officers for 1 million. In order for the HOA to pay off the rest of the settlement they would need to assess the homeowners of the association to cover the remaining amount of the lawsuit. The question becomes this. How can a home owner protect themselves from similar situations? 1. Make sure to be involved in your HOA. 2. Make sure the community has voted in competent board members. 3. Keep an eye out in the community of potential safety hazards. 4. Make sure you have “Loss Assessment Coverage” on your ho
Have You Committed Insurance Fraud?
I’m an honest person so there’s no way that I would commit insurance fraud!!!! That’s how most of us feel. I know most people are honest and they wouldn’t think of doing something like insurance fraud. Insurance fraud cost consumers about $40 billion a year according to FBI statistics . That cost to every family in the U.S. $400 - $700 a year. There are two types of fraud. One is called hard insurance fraud and the other is soft insurance fraud. Hard insurance fraud is committed by people that scheme against the insurance company for profit. Some examples of this would be. 1. Someone that files a theft claim and declare items stolen that weren’t. 2. Setting fire to a vehicle to get the full payout. 3. Someone that fakes an injury to be able to not work and get paid. 4. Agent takes money for a policy but never issues the policy. 5. Stage an accident to collect medical payments. Soft fraud is more common and people do it wit
Why UM/UIM Insurance Coverage Is Important
One of the most overlooked, but probably the most important coverage on your auto insurance is the UM/UIM coverage. Why is it important? UM/UIM coverage goes to cover your medical bills, rehabilitation, and loss of work if someone injures you in an auto accident and they don’t have insurance or enough liability insurance to cover your bills. In AZ it is estimated that 12% of the people driving on the streets don’t have auto insurance according to an insurancejournal.com report. That is about the same as the national average. On top of that there are a lot of people driving around with state minimum coverage or one step above state minimum. If there is a major accident this coverage isn’t going to cover everything. Just to give an example this story from azfamily.com is about a teacher whose son was hit in an auto accident. He has had to stay in the hospital for a while and the medical bills, rehabilitation, and loss of work is going to get very expe
Congratulations to the High School Graduates!!!!! It’s that time of year that every high school is having their graduation ceremonies. It’s an exciting time that the end of the year and primary schooling is done. For some it is the beginning of their college years. Not all kids and parents can afford to pay for the college up front. Some have to take out student loans to fund their child’s college education. Below are some thoughts as students prepare themselves this summer to attend college. Life Insurance Students for the most part are not in a position of having someone dependent on them. But it’s a good idea to have some sort of life insurance for the following reasons. 1. Any student loan that the parent co-signs could be a debt that would have to be paid in case of the death of the student. 2. Having money for burial expenses in case of the death of the student. 3. This will
Do You Buy Auto Insurance Only On Price
Is price the most important part of shopping for insurance? If you say yes you could be setting yourself up for a large headache down the road. If you are responsible for a serious accident, the last thing on your mind is how much am I paying for insurance. You’re going to be concerned if or if not your policy will cover the injuries, loss of work, damages, or rehab of the party injured in the accident. If the injured party gets an attorney the first thing they will do is find out what your limits are on your insurance policy. The second thing they will look at is the possibility of collecting a settlement over the limits of your insurance, if the injuries are projected to be over the limits. What can the attorney of the injured party go after? Most everything in your financial portfolio is on the table. They can come after all assets including, checking accounts, savings accounts, and other investment accounts. They can place a li
Don't Let Halloween Night Become Your Own Horror Story
The night of October 31 st has become a night of kids and families going door to door trick or treating. When I was a kid we just went door to door and didn’t see any decorations or anything. Now it seems that more and more people are putting out decorations and setting up their own mini scare house. Your home can be a great place for families to visit. If someone gets injured on your property while trick or treating that could spell for some very bad news. It could open you up for a lawsuit. Here is a list of things to be aware of to make your home as safe as possible for your visitors on Halloween. Turn on your lights and make sure the walkway is well lit. Remove any potential tripping hazard Place a divider where your decorations are to prevent kids from running to them. Make sure your decorations aren’t in the way of walkable traffic If it’s windy, remove anything that is hanging that might get blown away. Sit at the end of the drivew