Monthly Archives: November 2017

Renters Insurance Guide

Confused about renters insurance? Here’s a renters insurance guide that will help you understand it.

Renters Insurance Guide

Many people think their landlords insurance will cover them if their possessions are stolen or damaged. Not so. Your landlord’s insurance only covers the building you live in, not your possessions. If you want to protect your possessions you need to get renters insurance.

Renters insurance is one of the least expensive types of insurance, yet it provides invaluable protection for you and your possessions. Renters insurance covers three basic categories:

Personal Property

Personal property coverage pays to replace your possessions if they’re stolen, or damaged by vandalism, fire, smoke, lightning, explosions, windstorms, burst water pipes, or electrical malfunctions.

There are two types of personal property coverages available:

Actual cash value coverage – which pays to replace your personal property minus a deduction for deprecation.

Replacement cost coverage – which pays to replace your personal property with no depreciation deduction.

Standard policies only provide limited coverage for expensive items like jewelry, furs, silver, and collections, so you may need to purchase additional coverage for these items. Standard policies also do not cover damage caused by floods or earthquakes, so if you want coverage for these disasters you’ll need to purchase additional insurance.

Additional Living Expenses

This coverage pays for your living expenses – hotel, motel, and restaurant bills – if your home becomes uninhabitable due to the causes mentioned above. Most insurers will reimburse you for the difference between your additional living expenses and your usual living expenses.

Personal Liability

Personal liability coverage pays for another person’s medical expenses if you, a family member, or your pet injures that person. It also covers damages to that person’s property. Some policies do not cover pets such as as pit bulls or rottweilers.

Standard policies usually come with $100,000 to $300,000 worth of liability coverage, but you can purchase more if you have a lot of assets you want to protect from a lawsuit.

Cheap Renters Insurance

Because renters insurance can vary by hundreds of dollars from one company to the next, the best way to get cheap renters insurance is to visit an insurance comparison website to get quotes from multiple companies.

Medical Insurance Guide

Group health insurance can be incredibly complex, and it can seem overwhelming when you are trying to choose the right coverage option. That’s why a group medical insurance guide is such an important part of any health insurance package. Employers who offer group insurance should request a guide from their insurance company so that they can distribute it to all of their eligible employees.

The sheer number of options available through most health insurance plans requires some time and study for most individuals. You have to assess your personal medical history and potential needs, as well as those of any dependents you may want to add to your insurance plan. Once you have a good idea what you will need, the group medical insurance guide can steer you through the options toward the plan that fits your budget as well as your coverage requirements.

In general, the choices are between an HMO and a PPO plan. HMO insurance is the least expensive for the
patient, with lower premiums and relatively low deductibles. HMO patients do have to sacrifice freedom of choice to gain those discounts, though. An HMO plan will have a group of participating doctors, and the patient is required to use one of those doctors in order to receive insurance coverage.

A PPO health plan gives the patient a little more flexibility, but at a price. If you don’t mind paying a little extra, you have the option of using doctors within a larger network. A PPO will also allow you to use doctors who don’t belong to the network, though you will have to pay for the treatment up front and expect reimbursement from the insurance company later.

Illinois Homeowners Insurance Guide

There are a thousand questions that people might ask themselves when it comes to Illinois homeowners insurance. The reason for this is that the state according to the United States Census Bureau had 12 million residents in 2006 and it has been gradually growing. As the home insurance industry faces a greater demand, they come up with new ideas and plans. In this article you will simply see the many faces of the Illinois home insurance industry and the frequent asked questions that many people have trouble with. Read this Illinois homeowners insurance guide to help you understand your coverage options a little better and maybe even find a cheaper Illinois home insurance rate!

What Does My Illinois Home Insurance Policy Cover?

This is perhaps the most important question faced by insurance customers in not only the state of Illinois but all over the United States. Below you will see a list of things that are covered under a standard Illinois home insurance policy and they will be briefly explained.

1. Natural Disasters and Accidents: Because the types of disasters or accidents covered by each policy vary from company to company it is important to know what the things you are covered for are. Any loss due to fire, storms, hail, tornadoes and hurricanes are at the top of the list for any insurance company. However, important and devastating events such as flooding and earthquakes are not offered by many. For this reason you should be very cautious and read the insights of your policy.

2. Your Possessions: A traditional part of any homeowner insurance policy is the coverage for your possessions. Usually the company pays from 50 to 70 percent of the total value of the house, but this varies from company to company. If you lose possessions such as furniture, jewelry, clothing and electronics your home insurance policy should provide you with some money for them.

3. Loss of Use: This is simply the price that an insurance company must pay for you to live somewhere else while your house is being fixed or reconstructed. This only pays you when your home is not suitable for you to live in it!

How Is My Credit Score Used?

It is important to understand that credit score is being used more and more nowadays by insurance companies in any industry. A reason for this is that insurance companies need to protect the “risk” of insuring an individual at all costs. There are primarily two ways in which your insurance company will be able to use your credit score. One of them is what they call “underwriting”. This simply means that they check your credit score to see if they are going to issue you a new policy or to see if you will be eligible to renew with them.

The second reason for checking credit report might be a little bit more important than the first one because it involves premiums. Illinois home insurance companies also use the credit report as what they call “rating”. Based on that credit report they will be charging you more or less on premiums. The reason for this is that a person with a bad credit report is more likely to just stop paying the monthly premiums and drop the coverage than someone with good credit.

What Things Affect Illinois Homeowners Insurance Prices?

There are many things that can affect your Illinois home insurance prices, but it is important to understand the many things about you and the house that can make a difference when it comes to the price of your residence.

The type of construction and the age of the house are definitely two main things that will be able to affect your premiums. Most frame houses are not really that safe because they are not as strong when it comes to supporting a storm than brick houses. Termites might be another costly thing related to frame or wood houses and you must protect yourself against them.

It is important to understand that the age of the house is of relative importance to your homeowner’s insurance company. Older houses are simply a pain to have because they require more fixing and they are not as durable as new ones. New houses also may qualify for discounts that are not given to old properties.

Another thing that may affect the price of your policy is the amount of safety features you have in your home. Just know that prevention will save you money. The more fire alarms, smoke detectors and sprinklers you put in your home the less the cost of your policy. Also, if you don’t have a security alarm then is would be good for you to install one. The reason for this is that it will make your family safe and will protect your possessions.

Is Replacement Cost The Same As The Home’s Market Value?

This is a question that many people have at the time of buying a homeowners insurance policy in the state of Illinois. The answer to this question will always be a “NO”. The reason for this is that the replacement cost that you have in your homeowner insurance policy will simply cover the value for fixing the structure and not the land. The market value of the home includes everything including land. Although it is important to understand that some people decide to have an appraisal on the value of the land and add it to their property.

What Is An Umbrella Policy?

Another important question that many people have when it comes to homeowners insurance has to be that of what companies call the “umbrella coverage”. A reason why this is so confusing is simply because a lot of people don’t understand the liability section in their home insurance policies. An umbrella policy will simply offer liability coverage above and beyond that one given in the liability section of a normal policy. It is not uncommon for people that want to be protected to the top to purchase an estimated one million dollars in an umbrella policy.

What Are Some Common Illinois Homeowners Insurance Riders?

Like in any other insurance industry, the Illinois homeowners insurance business does offer their customers riders that they can purchase in addition to their normal policies. Below you will find some of the main riders provided and a brief explanation of them.

Personal Property Floater: This option is simply created for the people that have more personal possessions than what the home insurance company is willing to pay for. Excess jewelry, furniture and electronics can be hard to replace. For this reason the company will pay more than the stated amount for personal possessions if you add this rider to the policy.

Income Property: This rider was specifically designed for the people that have a business renting out a property. It will simply allow you to insure the property you are renting under the main homeowner insurance policy that you have for your home.

Secondary Residence Premises Endorsement: This is just like the coverage mentioned above, except that the other property being insured under the primary policy would be a vacation home or a second home that your family might have somewhere else.

Theft Coverage Protection Endorsement: Most insurance companies have specific amounts that they will cover due to theft. With this rider a person will simply have the freedom to be paid more in the event that someone goes in an steals your possessions. This is a good rider to have if you don’t have a security device in your home and you live in a big city (because big cities have a higher crime rate than rural areas).

Insurance Guide

It would be nice to flash a magic wand and change a new insurance seller into a high-income life specialist. This is an insurance guide to all the steps an insurance seller must learn to ensure life specialist status will occur. You can even keep score to see how far along the journey you are.

The insurance guide below lists 50 topics that must be learned if you want to enhance yourself into becoming a true seller. This article will concentrate on selling skills that a life specialist gradually adapts until fully becoming an insurance expert. Insurance skills are earned and learned, seldom is there a born insurance seller. In fact an expert life specialist learns the delicate techniques of getting a prospect to want to buy, eliminating the seller pressure clouding over insurance trainees.

If you choose to score yourself in these areas, use the following point rating system. 0 score reflects not using currently. A score of 1 equals minor trial and error. A 2 score means occasional use. Scoring 3 relates to frequent use and adaptation. Achieving a 4 marks changing to a result producing upgrade. The score of 5 is reserved for excellent mastery. Print this out, and write your score in front of the skill area. Just being aware that all original methods that were taught will have to be changed. What you were originally taught ignored looking straight into the eye of the storm.

1. Replace the gigantic briefcase to a pocketed binder of essential product information

2. Bring a yellow pad and 3 new pens, one for you and two for prospects

3. Obtain business cards with title of specialist, professional, expert, consultant, etc. NOT “insurance agent”

4. Get business cards stressing your name, and degrees. Include insurance company only if required

5. Keep compass, maps, or GPS device in your car, along with excess supplies

6. Purchase giveaways for prospect, could be key chains, flashlights, ebooks, etc. Imprinting not necessary.

7. Picture making the sale, and the presentation as a formality before knocking on the door

8. Always request to always sit at a table with the prospects

9. Ask that the television or music be turned way down or off

10. Reschedule the presentation appointment if guests are over

11. Bring a phone camera to take picture of prospect’s pick of best item in their collection

12. If presentation is for husband and wife, never give to just one only

13. Never reveal the cost until you are good and ready

14. Refuse to come back if prospective client wants to think it over

15. Ask questions in a manner so a yes or no answer cannot be given

16. Avoid cold calling to complete strangers

17. Know the difference between a genuine prospect and a suspect

18. Find a list broker to highly define a list of the people you want to talk to

19. Acknowledge that wisely spending money on leads is an investment in yourself

20. Keep spending more time on appointments than on prospecting

21. Acquire the ability to throw away leads that will waste you time

22. Impose a lead procurement source from direct prospect mailings or internet leads

23. Remember that quality in prospecting, appointments, and closings far outweigh quantity

24. Learn objection handling until you learn to eliminate objections from ever occurring

25. Find motivational and action words to interject into your presentation

26. Write sales messages with bold attention getting headlines and the want to read on

27. Prospect by rewarding a person “lead” with something for letting you provide more information

28. Become a life specialist by learning at an expert level all about a couple products

29. Refuse to become an insurance seller of a complete product portfolio

30. Target your prospects and leads toward only a few products you want to specialize in

31. Practice with a friend or associate your sales presentation and take constructive criticism

32. Find out the correct emotional need your client has for needing insurance

33. Restructure parts of your presentation for flexibility, changes, and different products

34. Develop key selling phrases that work in almost every presentation

35. Explore the option of making two policies sales instead of one

36. Say, “You want to just pay yearly, and save some money, right?

37. Keep more of your eyes and talk focused toward the wife

38. Read motivational books to build your self-confidence level of yourself

39. Never rattle on about all your product benefits, focus only on a few major prospect benefits

40. Do not fear your competition, as your client rarely cares, and if so may not be a buyer

41. Never let price be an issue as you can let your prospect choose regular or deluxe

42. If a client has an inferior outdated policy, replace it without guilt

43. Make sure you get every prospect’s email address and email a monthly newsletter

44. Find a store with two for a dollar greeting cards and flood your client with them

45. Examine what you can do to increase your closing ratio by 10% at a time

46. Never follow what others in your office do or say, unless it is a life specialist

47. Do not expect to earn $100,00 yearly your first 6 years unless you become an expert

48. Start to broker business with an outside insurance carrier and get higher commissions

49. Make a realistic goal of becoming fully independent, in business for yourself only

50. Separate yourself from insurance sellers, as a life specialist does not sell, instead working with the prospect to buy insurance

If you kept score, and you are already at 150 points, you have a great insurance career ahead of you. If not, use this insurance guide containing 50 of the essential ingredients to raising your status and income. Start the makeover from insurance seller to life specialist right now.

Well published author, Don Yerke likes to concentrate on what you don’t know or what no one else dares to print. Tell it like it is.

Read the Car Insurance Guide

By now, everyone should know that the best way to buy your car insurance is online. No one has the time anymore to sit down with an insurance agent and “discuss” your insurance needs. There is too much to do and few insurance agents have time for you, either. But, one thing you can do before you start shopping for insurance is to read a good car insurance guide to make sure you know what you are getting yourself into.

Back in the day when we all had insurance agents, we could sit down across a desk and discuss what all the types of coverage meant and the advantages for each one. We could figure out how much it would cost us, after the deductible, for a particular type of accident, and if we were prepared to pay that much. Now, however, we are all expected to know what all of that mumbo jumbo means and we don’t. We are paying, in most cases, for an insurance product that we don’t understand.

Before buying your car insurance, or even before shopping for insurance, do your research and find a car insurance guide online. Most larger insurances companies have these posted for you, to answer any questions you might have about coverage, deductibles, types of insurance, and methods of payment.

One thing is for sure – car insurance costs a lot of money and if you aren’t buying the right product, you will never get your money back. Make sure you know what you are doing before signing that check and you will feel a lot better about the purchase you made. You will also feel a lot safer while driving your car, knowing that if anything should happen, you will be properly taken care of. So, check out a good car insurance guide and learn all you can before you buy.

An Auto Insurance Guide

When you are looking to purchase auto insurance for the first time it can be extremely helpful to have an auto insurance guide.

Step 1: Determine what and how much coverage you require.

Laws governing how much and what type of auto insurance vary from state to state. It is your responsibility to find that data on your state to ensure you have at least the minimum amount of coverage. However, you’ll find that most auto insurance guides will recommend you carry more than the minimum if you’re able.

All states, except New Hampshire and Wisconsin, require vehicle owners to carry liability insurance. Liability insurance covers the other person. This usually includes covering medical, lost wages, and property damage. Liability insurance does not cover the policy holder.

Some states also require motorists to carry insurance for uninsured/underinsured drivers. This is because there are increasing numbers of people who are driving without any coverage at all.

You may need or want to consider comprehensive and collision coverage.

Comprehensive coverage takes care of damage caused by things like natural disasters, weather, and theft. If your car is vandalized, comprehensive insurance would cover the costs of replacing stolen items and repairing any damage. Collision covers the policy holder in the event of an accident.

Step 2: Research your own driving history.

You need to know how many tickets, accidents, or other auto insurance claims you have made for at least the past 10 years. Any reliable auto insurance guide should remind you of this fact.

The amount of money you’ll pay for your insurance will be greatly influenced by these factors. As time passes, we tend to forget negative details like speeding tickets. You should check with your state’s DMV (department of motor vehicles) to make sure you have accurate records to present to the insurance company.

Step 3: Compare insurance quotes

No good insurance guide would allow you to skip this particular step. It is in your best interest to obtain quotes from a few insurance companies. You can do this through online insurance quote sites, or you can contact the companies directly. A combination of both online and actually making phone calls is highly recommended.

Online comparison sites will provide you with fast, free quotes, but these sites are only providing you with flat rates. These sites do not factor in any discounts you might be eligible for. To determine discounts, you’ll need to actually speak with an insurance agent.

Some things you should be looking for when selecting an auto insurance company are:

Is there a contact number for questions you can’t find answers to online?

What are the annual versus monthly rates for coverage?

When are your payments due, and what will happen if you’re late one month?

How many complaints have been filed with the state against the insurance company? (You can look at J.D. Power and Associates’ customer satisfaction surveys.)

What is the company’s business rating? (Look at Standard & Poor’s and A.M. Best’s ratings.)

What discounts do you qualify for?

Is there an actual agent in your town or are you going through a call center somewhere else?

Step 4: Purchase your auto insurance.

Once you have gone through all of the steps listed in this auto insurance guide, you should have the information you need to make an intelligent decision regarding auto insurance.