Month : December 2012

Money Management

Renters Insurance – Answers to 5 Common Questions

Have you ever heard of renter’s insurance? Do you need it? An important part of finding financial freedom is understanding how to best protect your assets. Let’s learn a little more about renter’s insurance so that you can make an informed decision about whether or not you need a policy.

What is renter’s insurance?

For those that own homes, homeowners insurance, usually required when you get a mortgage, covers both the structure of their home and their possessions inside. If you rent you don’t have this protection. Many renters make the mistake of assuming that their belongings are covered under their landlord’s insurance policy. This is not true. Without a renter’s insurance policy you will be left with nothing if your apartment complex burns down or if your possessions are stolen, damaged in a flood or destroyed. In fact if you have visitors and someone gets hurt in your home you can even be responsible for their injuries without a renter’s insurance policy. Whether you rent a house, condo, apartment, townhome or even a room, you should seriously consider renter’s insurance to protect your belongings.

Do I need renter’s insurance?

Many renters assume that the value of their items don’t make a policy worth the investment. This is generally not true. Take a few minutes to write down a list of all of your possessions. How much would it cost you to replace your wardrobe? What about your home theater system? Do you have any jewelry or other high price tag items? Even if you only have the bare necessities you might find that it will cost thousands to replace them. Plus you won’t have to worry about being covered in cases of accidental injury of others while they are in your home.

How much will it cost?

You may think that renter’s insurance will be really expensive, but in most cases it is surprisingly affordable. In fact you can probably find a policy for somewhere between $15 and $30 each month. Your exact premium will vary based on your location, the type of coverage you choose, how much coverage you purchase and your deductable. Don’t decide that it isn’t affordable without first getting a quote. You need to have all the information to make an informed decision.

Are there any ways to save?

Of course you are probably wondering if there are any ways to get your renter’s insurance for less. One of the best ways is to group policies. For example if you have an auto insurance policy already you might want to check and see if they offer renters insurance as well. The more policies you group the more you can save. So if you have auto or life insurance policies with companies that offer group coverage you may end up getting a discount.

What should I know before getting a policy?

It is important to know exactly what you are getting into before you make a purchase. Insurance policies can vary a lot and if you don’t know which questions to ask you might end up getting a policy that won’t protect you in some situations. Here are a few important questions to ask before you sign any policies.

  • What is covered?- Find out exactly what is covered in your home as well as what situations you are covered in. Ask questions like, “Am I covered in a flood, fire, burglary, etc?” to make sure that you are covered in every situation.
  • What will it cost?- Find out your monthly or yearly premium inclusive of any fees. Some companies charge a fee if you want to pay monthly or if you cancel your policy before your contract period ends.
  • What will I pay out of pocket should I need to use my coverage? Find out what you will have to spend for your coverage to kick in.
  • Do you offer any discounts?- They will probably say no, but it never hurts to ask.

Make sure that you compare rates and policies and that you choose a reputable company. When shopping for insurance you don’t want to go with a company that you don’t trust. It is always a good idea to check your potential companies through the Better Business Bureau.

While renter’s insurance might not be right for everyone, it is a good thing to have in most situations. It is a relatively affordable way to protect yourself. Think about it- would you be able to replace everything tomorrow without going into debt? Probably not. Renter’s insurance will help you stick to your financial goals should disaster strike.



The Need for Getting Pet Insurance

Most of us take our property insurance obligations very seriously because the last thing we need in life is to be able to lose something big and not be able to replace it. Every year, we spend billions of dollars worldwide insuring anything from our cars, houses, and our medical expenses. Heck, even Heidi Klum insured her legs just to be sure. 

This raises an interesting question that has to be answered in the context of personal savings. Simply put, have we considered something like pet insurance to ensure that we all have our expenses covered? Think about it; we treat our pets like family and go out of our way to spend for their needs, not the least of which is medical expenditures. When ours pets get sick, it does not take an hour before we find ourselves running to the veterinarian and spending hundreds of dollars for doctor fees and medication among other things. All that spending can easily total to thousands of dollars over the course of a year and in these tough economic times, that’s a little bit more spending than we would prefer coming out from our wallets. 

Pet insurance provides a practical solution to these problems. Working much like our own medical policies, pet insurance are bought to cover vet treatment fees, or even medication depending on the exact policy bought. It is a handy and workable solution that allows pet owners to rest easy knowing that their beloved are well-taken cared of and that their wellness is not compromised simply because we are working on a squeezed budget. 

Most of the pet insurance policies today actually sell for very affordable rates, as low as ₤4.50 gross for a month for a pet cat. Dog pet insurance can be bought for ₤5.60 for basic medical care. There are also other variations that would allow one to insure pets that may go missing or coverage for bereavement counseling services in the untimely event that a beloved pet passes away. 

The important consideration is to remember that pets are equally important to us so much so that saving money is a reason we would never use to compromise our pet’s health and wellness. However, if it can be done in a practical way such as through legitimate and proven pet insurance policies, then there is no reason to shy away from the most practical and ideal solution out there. 

The next time you find yourself in the vet having to pay a good amount for your cat’s latest illness, think of how pet insurance can help ease your spending without having to lower your standards for health care towards your pets. With pet insurance, you need not worry, and yet still be able to save. In a world were good breaks are hard to come by, that’s as good an offer as any you will ever find. 


How can Finance Help you in purchasing an iPhone

The web market always gets on fire with the launch of a new model of iPhone. Though, the iPhone is one of the most expensive phones available in the technology market, yet the hype of this phone never gets down. The dazzle of the iPhone leaves no eyes unturned. The question is: is anything really present in this device worth $200 or $300. As far as possible, it can be figured out that they hype excitement and fresh news which is the major reason for the oomph in the iPhone market. 

It’s not just about a single person. It’s about the general public interest. Can you afford an iPhone? What exciting feature does it hold that you are ready to spend your few hundred dollars out of your pocket? A simple answer is that the iPhone is just a human want and not a need. Thus, you can genuinely afford it if you have purposely saved some money for it. For those people, who don’t have any savings; can go for purchasing an iPhone on finance.

The bank offers finance to you to purchase the iPhone. It has been categorized as an asset; hence banks offer loans to the people to buy an iPhone at a fixed rate of interest. People can purchase it by taking financial aid from the bank and then pay the loan amount along with a defined rate of interest. The bank gives this credit to the people after checking their credit history. Having a good credit history, can easily get you the loan. However, the iPhone is not recommended for those people who are already in debt. 

The Apple Store also offers you with the facility to purchase an iPhone on monthly installments. You can easily purchase an iPhone by giving a specific down payment. The installment includes a small rate of interest. Once you pay the complete loan amount along with the interest, you become the sole owner of this device. Once you choose to purchase the iPhone on the installment method, you need to give your accurate financial standing to the store and bank. You can directly issue postdated checks to the store for future payments 

Thus, these are the few ways through which you can acquire an iPhone on finance. It is the best way to purchase an expensive gadget. You put no strain on your monthly budget and eventually achieve your device too. However, you should not let any excite and hype change your decision and buy something which is beyond your means. IPhone is not a phone which is within the reach of everyone. However, every single person dreams of having it. Only the richest people can afford a single time purchase of this expensive device. For a medium living person, purchasing an iPhone on finance is the sole option. Go for this and purchase it today so as to get one of the best phones in your hands. 

Author Bio: 

This post is by Sachin. He loves to write on insurance, finance, technology, etc. He has also written for many reputed brands. IPhone owners who wish to get their phone insured can go for One can also check out various other options online but make sure you get your phone insured from a respectful and reputed company so as to have easy and safe insurance for your precious iPhone.