Insurance can offer peace of mind if you know you're protected against the unexpected. You can find an insurance policy to cover almost anything imaginable but some are more deserving than others of a place in your financial plan.As you map your financial future, these four types of insurance should be firmly on your radar.
A personal liability umbrella insurance policy can give you added liability protection without a large added cost. Depending on how much umbrella liability coverage you decide to purchase, it could cost as little as $100 a year for 1 million dollars of coverage, and would increase depending on how much coverage you have.
From the day an entrepreneur starts a business, he exposes himself to certain risks. Even before the first employee is hired, a business is at risk, making it important to have the right insurance ...
A personal umbrella policy can help cover the additional costs when your standard insurance policy isn't enough. An umbrella policy could provide the additional coverage you need so that you don't get stuck trying to pay the remaining balance yourself. This extra policy could help protect your bank account, home and other personal property.
Your auto insurance policy only covers the first $250,000 of that, so you’re on the hook for the remaining $750,000. This could be a complete disaster for you – unless you have an umbrella insurance policy. This kind of insurance takes over when your other policies run up against their coverage limits.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
The 4 insurance policies you actually need; Image Credit: Dreamstime . Advertisement. Over the course of your life, you’ll likely be encouraged to sign up for dozens of different kinds of insurance policies, from “Grow-Up” life insurance for newborns to long-term care insurance closer to the end of your life.
Calculate your long-term financial obligations and then subtract your assets to determine how much life insurance you need. Try out our debt and income replacement calculators and learn from real ...
1. General Liability Insurance: Every business, even if home-based, needs to have liability insurance. The policy provides both defense and damages if you, your employees or your products or ...
Protecting your most important assets is an important step in creating a solid personal financial plan, and the right insurance policies will go a long way toward helping you safeguard your ...