HO1: A limited coverage against 11 different hazards. These include theft, riots, windstorm and hail. This is also referred to as a basic policy and can include coverage for personal and medical liability. Another great aspect of this class is that it can cover your personal possessions even while you are traveling with them.

HO2: Reaches further than HO1 by covering 17 total hazards including water damage, smoke, falling objects, freezing pipes and the 11 hazards covered by HO1.

HO3: This is the most common class for home insurance policyholders. It covers damage from all hazards unless they are specifically excluded on the policy. This includes liability and medical payments – unless they are specifically excluded.

HO4: Covers the personal possessions of a renter’s policy. This does not cover any damage done to the walls, pipes or actual structures owned by the landlord.

HO5: Covers everything in HO3 that is not excluded and requires no specified incident or peril to have damaged your home. This is especially helpful for insurable incidents in which there are no witnesses and no evidence of the cause of the damage.

HO6: Covers the personal property and interior walls of a condominium. This class of policy also occasionally covers liabilities. This will not cover incidents to pipes, outer walls, hallways and other areas covered by the condominium association policy.

Remember, your home insurance policy should be tailored to the needs and risks your family faces. Be sure to ask your home insurance company to explain what is covered within your policy class and what is excluded so that you can be certain your policy will be there to protect you when you need it most.

Like other pest problems, a bed bug infestation is not covered under your homeowners insurance policy. Any damage done by the bedbugs to your property, contents, walls or other areas will not qualify for any kind of claims payment from your homeowners insurance policy. Additionally, any expense you face to get rid of them and prevent them from causing damage to your home is uncovered – like all preventative maintenance needs your home has.

The reason for this is that bed bugs are not considered an insurable event. Like cockroaches and rats, they are preventable through routine maintenance and careful monitoring when traveling. It is your responsibility as the homeowner to take whatever actions and precautions are necessary to reduce the risk of a bed bug outbreak in your home.

Many apartment dwellers are feeling the pinch of bed bug infestations as well. Like homeowners, bed bug damage and removal is not covered under a renter’s insurance policy. It is also unlikely that your landlord’s policy will cover damages, although your landlord may be liable to reimburse you for damages and pay for removal expenses.

Although your policy may not cover your expenses, it is still important that you take the time and resources necessary to get rid of any infestations. The damage they can do to your possessions, your home and your spirit are too great to risk.

That is because Walgreens and a slew of other stores have opened up small retail clinics in their shops. These clinics work much like your doctor’s office and treat a number of small infections and illnesses from the common cold and flu, to bug bites and allergic reactions.

A visit to one of these clinics often costs less than $100, which is much less than a visit to your doctor or primary care physician’s office would be if you have a high deductible health insurance plan. In addition, they are usually much less crowded, have lower wait times, and – because the physician in attendance is only concerned with meeting your immediate needs – they are the perfect locations to visit when you don’t have a lot of time out for a real doctor’s visit.

Even if you don’t have a high deductible health insurance plan you may find a use for these clinics. In many instances, you will find that your insurance company covers the visit and you pay the same copayment as you would when visiting your doctor, but with all the benefits of less waiting time.

It is important to remember that these clinics are not meant for preventative care or routine physicals. You should see your regular physician for those items since he or she may notice subtle changes in your health through these exams that a retail clinic physician will not. But if you need a little allergy, flu or cold care, a retail clinic might be a great resource for you.

Contrary to popular belief, car insurance rates are not an inflexible number. There are many ways that you can get car insurance discounts just by being who you are and taking advantage of the good driving record you have.

Senior discount: If you are 55 or older you may qualify for special discounts through your car insurance company. Car insurance rates for seniors can be quite low since they have a lot of experience driving. Also, they generally have extensive driving records which give a clear indication to insurers about whether or not they are safe drivers.

Good grade discount: On the flip side, if you are younger than 25 and are a full time student in either college or high school you may qualify for car insurance rates that are lower as a result of your good grades.

Farm use: If you own a farm, then your farm vehicles must be insured. But if you restrict their use to farm use only, then your insurance company could give you major discounts. After all, using your vehicle exclusively on the farm limits the risks that you and your equipment are exposed to which limits the likelihood that your insurer will need to pay any claims.

Clean driving discount: If you have a clean driving record then you will qualify for many discounts, depending on the number of years that it has been clean. Clean driving means that you have had no tickets or accidents that were your fault.

Retiree discounts: If you are retired then you no longer involve yourself in the daily grind of driving back and forth to work during rush hour. This means that you are much less exposed to risks and also means that many insurers will offer you a discount. They may even give a retiree discount on top of a senior discount, so be sure to ask.

The best thing you can do when looking for car insurance rates with discounts is to ask. Make sure you disclose all information about yourself and your life that you think may qualify you for a discount.

That is why your State Guaranty Association exists. The State Guaranty Association in each state guarantees that an insured can get the cash value of his or her policy or that the beneficiaries can receive the death benefit even if their insurer becomes insolvent when it’s time to pay.

Naturally, there are limits. The limits vary by state but are commonly capped between $100,000 and $300,000. You can visit our state specific insurance guide pages and find your state to see what your limits are. It’s also important to remember that guaranty associations are there to protect you from insurer insolvency, but not much more. If your policy lapses, you neglect to pay a bill or you insist that they didn’t send one, the guaranty association in your state won’t do anything to help you. They simply back up the payment of an insurer who has gone bankrupt – and only up to the limit. You will need to provide proof of a valid policy and comply with all other association requirements.

As always, the best defense for consumers is a good offense. And what that means for life insurance customers is that they should thoroughly research their insurance company before they buy insurance. You can do that by visiting the A.M. Best website to see their evaluation of your company’s financial security before you buy the insurance policy you are considering. A.M. Best studies the financials of insurers and assigns a letter grade to each company that represents how financially secure they are.

Your motor vehicle report is a report that shows your driving history. If you have had any accidents, speeding tickets, or other driving incidents, they will show up on the report. While it is normal to have one or two tickets, an excessive amount can indicate to underwriters that you are not a responsible driver and that your risk of an accident is likely increased. Since this also puts you at greater risk for death, it can and will affect your life insurance rates.

Generally, an insurance underwriter will charge you a flat extra or rated premium that results in an extra percentage of premium being added to your policy. You may ask your underwriter if you can have your rates adjusted if you show a clean driving record for a year or more. There is no guarantee that this will be approved, but it never hurts to try. Your best bet, however, is to make sure you always drive safely and responsibly and follow all traffic rules while you are out on the road so that there is no occasion for you to be pulled over or ticketed. After all, good behavior is your best defense against high insurance premiums.

The Benefits of Indemnity Plans

In addition to being given the freedom to visit any physician or specialist you want under an indemnity plan, you will also not generally be required to choose a primary care physician. This means you also won’t be forced to get referrals before you visit a specialist.

The Potential Drawbacks of Indemnity Plans

One of the drawbacks to an indemnity plan is that you must generally pay all your medical expenses out of pocketed then get reimbursed by the insurance company. Many consumers do not have the money at hand necessary to pay all expenses out of pocket initially, so this type of plan is not appropriate for every individual.

Another drawback to indemnity plans is that the insurance company will generally only reimburse you the “usual and customary” rate for your medical expenses, regardless of what they actually cost. The usual and customary rate is the average of what healthcare providers in your area charge for services. But because you are not dealing with a network of providers (like in a PPO and HMO) who have already agreed to charge that rate for services, you may have higher out of pocket expenses with an indemnity plan.

Like other insurance plans, you may need to choose deductibles and limits when you shop for indemnity health insurance online. While the monthly premiums may look attractive when you choose extremely high deductibles and low limits, make sure you choose deductibles you can actually afford to pay out of pocket for and that you choose reasonable limits.

When you get health insurance quotes online, short-term health insurance is one type of insurance you can get a quote for. They are usually inexpensive since they cover a very limited period of time and the likelihood of having significant claims occur during this period is low. That means that the insurance company does not take on a great amount of risk when insuring you.

The Downside of Short-Term Health Insurance

Much like catastrophic insurance policies, short-term health insurance policies will not likely count as creditable coverage under HIPAA. This can have a major impact on your future health insurance purchases and can mean that your pre-existing conditions can be excluded for a limited period of time from group policy coverage. It also means that when you have a short-term health insurance policy, you may not qualify for coverage under HIPAA. These are important considerations for individuals opting for short-term coverage instead of COBRA.

Speaking of pre-existing conditions, short-term health insurance policies generally exclude them from coverage. In addition, short-term plans often don’t provide any benefits for preventative care or routine physicals.

The need for short-term health insurance policies is limited. They are not a good fit for every family and you should research a plan in full after getting online health insurance quotes in order to make sure it is a good fit for you and your family.

Catastrophic insurance plans (also called major medical plans) do not cover any expenses related to preventative care, minor wound care, or any kind of health monitoring service. Instead, they cover some of the expenses associated with major, catastrophic illnesses and accidents. If you are sent to emergency room, it is likely that much of that expense will be covered by your catastrophic policy. Other expenses covered include hospital expenses like room, board and incidentals, surgical expenses, and physician expenses.

Like any insurance policy, catastrophic plans have limits and deductibles. You will be required to pay the deductible amount out of pocket, then the insurance company will step in and pay their portion of your expenses, up to the limit.

Because the insurable incidents covered by catastrophic plans are so limited, the premiums tend to be low and widely affordable. As with any policy, choosing a high deductible and low limit further limits the risk of expense to the insurance company and will result in even lower rates-but as with any insurance policy, consumers must make sure that they choose a deductible they can afford and a limit that is reasonable and still offers a relevant benefit.

Catastrophic policies are not for everyone. If you have a chronic illness or injury, a catastrophic policy can step in when a major medical incident occurs, but will not give you the day-to-day and preventative coverage that you may need in order to live a long and healthy life. But if you are unable to secure a regular insurance policy and don’t yet qualify to join the high risk pool for your state, then it may be a helpful alternative.

HIPAA-Protecting Your Privacy

The HIPAA act sets out certain administrative procedures that prevent unauthorized individuals and companies from getting their hands on your private health information. Under the act your health information becomes Private Health Information and allows you to choose how you can be contacted by an insurer or health agency, requires certain permissions to be granted and documents to be signed before records can be released and imposes a penalty on those who reveal or disclose your health information over the phone to unauthorized individuals.

Unfortunately, HIPAA regulations can make some things difficult in its intention of protecting your privacy. Your family might not be able to get medical information about your medical state when you are hospitalized and your insurance agent might not be given a reason why your insurance policy application was declined. HIPAA does not, however, affect your ability to apply got health insurance online.

Portability and Renewability

Re-existing conditions can be a big determinant in what type of insurance policy you can get. HIPAA prevents insurers from permanently excluding conditions that you have. In addition, it guarantees that you can get a health insurance policy after your COBRA benefits expire IF you are unable to get health insurance independently or through another group.

In order to utilize HIPAA portability and renewability benefits you must have carried creditable insurance coverage for a certain period of time (usually 6 months, but can vary by state). Creditable coverage doesn’t have a very good definition on any HIPAA website resources, but it is likely that it means a fully underwritten or group health insurance policy, which means that limited benefit coverages or major medical policies will likely not qualify as creditable coverage.

So remember when you get your health insurance online quote – HIPAA is there to protect you in many ways, even when you get your quotes online.

An auto insurance quote is generally given for a standard automobile. The amount of the quote is determined by the limits, deductibles and coverages you choose as well as your driving experience and record. But with a classic car you have special insurance needs. The value of your car might exceed the limits of a traditional auto insurance policy. In addition, you might not drive many miles on the vintage vehicle and could be entitled to discounts.

Since many collectible vehicles lack the safety measures of newer vehicles, like airbags and automatic seatbelts, specialty auto insurance coverage can ensure that you are not overcharged for this. In addition, specialty auto insurance coverage can ensure that you are given total replacement value for your car, as long as you are insured to that level. Since collectible cars can have a value that far exceeds that of a normal vehicle, this difference can be significant.

Car collectors rarely stick to just one collectible vehicle. Some specialty auto insurance companies can offer breaks in coverage if you cover more than one collectible vehicle. These breaks (or discounts) can be significant since this coverage is expensive.

Lastly, special auto insurance coverage gives you access to insurance assessors who understand how to value the special vehicle you’ve purchased insurance for. When you have a claim, this is a significant difference.

Group insurance: In most states you can take out a group insurance policy for your small business if you have at least 2 employees to cover. Some states even allow you to take out group insurance for groups of just one employee. The smaller your group is, the more expensive coverage may be. Also, although rates are usually protected by rate bands, you could experience premium increases if your group has many health claims.

Individual insurance: If you are in good health, you can always turn to individual health insurance coverage. With individual health insurance, your health history will be considered in pricing and approving the policy so the better your health is the more affordable your policy will be.

Unions: If there is a union or other group associated with the type of work you do, you may be able to join the union and get group health insurance or discounts on individual insurance. Again, your health may play a part if you are looking at discounts on individual health coverage-but if your union offers group coverage then you will not be individually underwritten and you may not have any limitations or exclusions placed on your coverage.

Is Cheap Home Insurance Good For Business?

One of the top goals for consumers is to find cheap home insurance that offers them protection against risk. Unfortunately, when you are simply searching for cheap home insurance instead of home insurance that offers good coverage for the activities you use your home for, you could be in trouble. If you choose regular home insurance and do not disclose that you are running a business on site, then you could suffer from unpaid claims, lost equipment and lawsuits resulting from the damages your business or home causes to others.

If you have clients who come on site to your home business, then your home insurance company needs to be made aware of this so that you can get proper liability coverage. If you have equipment at home that is for business use, then your home insurance company needs to know this so that they can cover it properly and you won’t have to suffer any loss of use while you scramble for the funds to replace it.

When your clients rely on your continued business to keep THEM in business, then your non-disclosure of home business activities to your home insurance company could result in a slowdown of your production and a financial loss for your clients. This is a dangerous risk as not only could you lose the money you paid in buying your equipment initially, but your clients could sue you because they depended on you to stay productive even after an insurable incident.

In addition to ensuring you have the proper coverage for your home business through your home insurance company, you should also get professional liability coverage so that no business can take your personal assets as a result of a business lawsuit.

So remember, let your home insurance company know about your home business and make sure their policy protects you properly.

1. Insuring your teen on your auto policy may offer some breaks: If you already have an auto insurance policy, you could get some breaks in the insurance premium if you cover your teen driver on your policy with you.
2. The older the car, the cheaper the policy: Insuring your teen is not going to be cheap-they are inexperienced and present a high risk to your insurer. But if you buy your teen an older model vehicle, you can get some breaks since the value of the vehicle is less and you can choose lower limits.
3. Driving courses matter: The more driving courses you make your teen take, the less expensive your policy can be. Make sure they take classes in school and look for other courses offered around your community.
4. Distance matters: If you are going to let your teen drive themselves back and forth to school each day, then you may be facing some steep insurance premiums. Instead, only allow them to drive occasionally. This reduces the amount of time they spend on the road, reduces the insurance company’s risk and potentially reduces your premiums.
5. Grades matter: Some insurance companies offer discounts to teen drivers with good grades. If this is the case with your insurance company, then you could save as much as 20% on the premium you pay. You might wonder what your teen’s grades have to do with his or her driving. They really have no direct correlation, but many insurers assume that a teen who takes their education seriously is better equipped to take driving seriously and will be a lower risk.

No matter how expensive it is to properly insure your teen driver. The choice to do so is a no-brainer. Teens have little experience driving and learning how to react in a dangerous driving situation. Insurance can help them weather the storm before they gain that experience.

But times have changed and real estate in the U.S. is not selling as it once did. While the home buying credits were in full force in early 2010, the real estate market picked up a bit, but now we are back to our normal lows. Not only that, but property values have fallen as well so you can no longer sell properties for as much money as you once could.

That means that many flippers have turned into the owners of multiple homes that they are forced to turn into rental properties so that they have some income to cover carrying costs. But now that they will own the secondary properties they purchased for years and years, they definitely need to consider some insurance.

It is not up to these new landlords to invest in home insurance that covers contents of the property. That would be the responsibility of their renters. So when you get a home insurance quote, there is no need to concern yourself with contents-but dwelling and other structures are definitely coverages you should consider. But because of the liabilities involved in renting a home out to other individuals, you need to be clear when you get your home insurance quote that the coverage is for a rental property and not for a primary residence. That way your insurance company can ensure that you get all the coverage you need for accidents, damages and insurable incidents that could be caused by your renters.

Do You Need Uninsured Motorist Coverage?

If you or a passenger are hurt in an accident that is the fault of an uninsured driver then you can pretty much kiss reimbursement from their insurance company good bye-after all, they are uninsured and have no insurance. And your insurance policy might not cover the damage caused by this other driver. If you have uninsured motorist coverage you can ensure that you will be made financially whole if the driver at fault does not have proper coverage. The Insurance Research Council estimates that roughly 25% of individuals are uninsured in every state-protect yourself against them.

Do You Need Comprehensive Coverage?

If your car gets stolen, vandalized or suffers from being involved in a natural disaster, can you afford to pay out of pocket for a new vehicle? And if you can, will that new vehicle be the same value as the old one-or will you be forced to buy a less expensive car because you cannot afford to pay for an equal car? And what about your existing car payments-who is going to pay those? If you don’t have comprehensive coverage then you will need to pay out of pocket to restore your car or to buy a new one if it is involved in a theft, if it is vandalized or if it suffers from storm damage. With comprehensive coverage you could be reimbursed by your insurance company and not have to worry about how you will afford to replace your vehicle.

So the next time you get auto insurance quotes, think about the reality of your situation and what kind of coverage you need as well as what kind of coverage you can afford to skip.

COBRA coverage is extremely expensive. If you are someone in relatively good health, who rarely goes to the doctor and has no pre-existing conditions, then COBRA coverage might not be the best use of your financial resources. Instead, you could search for low cost health insurance on an individual basis and get your own policy, not hinged on group participation, that can cover you for a fraction of the cost of a COBRA policy.

For individuals with pre-existing conditions, low cost health insurance is a pipe dream. Not only are premiums expensive for formerly ill individuals, but they may not even approve you at all depending on the risk you present. Or, they may approve you and agree to pay for your medical expenses through your policy while excluding a whole host of expenses that stem from your pre-existing condition. It is then that you are a good candidate for retaining your COBRA coverage. Even if you never go to the doctor, keeping continuous coverage through a program like COBRA is vital because it prevents another group insurance plan from declining to cover your pre-existing conditions (something they cannot do unless you’ve had a break in coverage for 63 days or longer during the past 6-12 months).

So remember, if you are young and in relatively good health, look to a low cost health insurance policy of your own for coverage after leaving a group plan. It will be much less expensive that COBRA and will allow you complete portability since its approval isn’t tied to group participation. If you have a pre-existing condition, be sure to opt for COBRA coverage immediately after leaving your job so that there is no risk of a 63 day or longer break in coverage. No matter what option you choose-make sure you always have some sort of health coverage so that you are not left to fiscally stand alone after an expensive illness or injury.

When it comes to underwriting your home insurance policy, your underwriters also consider your location an extremely important consideration-but not for the same reason as your real estate agent. Your underwriter doesn’t care about how your view, location or neighborhood influence your life-they care about the innate risks that these factors carry.

Certain locations could be high crime areas. While you might think that the location is bound for a renaissance and is a good investment, your home insurance underwriter is going to look at the practicality of living in a crime-filled area and is going to consider how this will affect your experience. Since it means that you are a higher risk for theft, they will likely add extra premium dollars to help hedge that risk.

If you live in a home with a wonderful view of the water it might make waking up every morning a glorious experience, but it also means that you could be more likely to suffer storm damage during a hurricane. The insurance underwriters don’t care about your glorious morning routine, they care about the fact that you are delivering increased risk based on your home’s location, and they are going to charge extra for that.

So remember, it is one thing to fall in love with the view, the neighborhood or the architecture of your home before you buy it, but it is a whole different story to think about how these considerations will affect your home insurance underwriting. Before buying a home, condo or townhouse, try to find a balance between a location that makes you happy and that makes your underwriters feel safe about issuing your policy. Then you’ll end up with insurance that you can afford and a home that you love-and what could be better than that?

Your medications: The medications you take give a tremendous insight not only on the prior events of your health history, but also on what your doctor thinks might be in the future. For instance, you might not have had a heart attack yet but if your doctor has you on a cholesterol medication, then it is likely that he or she thinks you may be at risk for one in the future. That indicates to a health insurance underwriter that you could be a risky bet.

Your actual health history: The events that comprise your health history give an insight not only into what your health future might hold but also in how you treat and respect yourself. For instance, Type 2 diabetes is often caused by obesity and poor eating choices. If you have Type 2 diabetes then it is unlikely that you eat well or exercise, which puts you at risk for a whole host of additional health problems.

Your family history: DNA ruins a lot of things health wise. If heart disease runs in your family then you are much more likely to suffer from it eventually. The same can be said for cancer, obesity, diabetes and certain mental illnesses. Knowing that someone in your family has suffered with these issues could change how a health insurance underwriter views your application for coverage-even if you are in perfect health.

Your weight and height: Your weight and height indicate how well-proportioned you are. Someone who weighs 300 pounds and is 5′3″ is much more likely to be considered obese than someone who is 6′5″ and weighs the same.

Smoking status: If you are a smoker-even an occasional lighter upper-then you are putting your body at risk for cancer, lung disease, emphysema and more. This will not be looked upon favorably by the underwriters reviewing your health insurance application.

Bodily damage liability: If you hurt someone by causing an accident, then your insurance will cover the cost of their injuries if you have bodily injury liability. There are two types of coverage you will be required to have, one is for a single person injury and the other is for multiple person injuries.

Property damage liability: If you run over someone’s mailbox, drive into their home or crash into their car, you are causing property damage. Property damage liability coverage will pay for this damage.

Uninsured motorist coverage: What happens if you get into an accident with another driver (who is at fault) and they don’t have any insurance or they have too little? If you have uninsured motorist coverage then your insurance policy will pay for the damages caused by the other driver.

Personal injury protection: If you or one of your passengers is hurt in an accident, personal injury protection (also called PIP) will pay for the medical expenses.

Every state is different. Almost all require bodily injury and property damage liability. Few require personal injury protection as well, and some also require uninsured motorist coverage. While most states require a very low minimum amount of insurance coverage in each of these areas, some have recently reset their minimums to much higher amounts.

Remember, before you get your auto insurance quotes, find out what kind of coverage is required by your state. But also, don’t just get the deductibles and limits required-consider the potential actual cost of damages after an accident and get an amount that will cover those expenses. Because the state required amounts don’t guarantee that they will be enough-they simply guarantee that there will be some sort of coverage.

Your home could endure an insurable incident whether or not you have a mortgage. After all, it is not the fact that you owe money on your home that exposes you to risk-it is the fact that risk is everywhere and could happen to anyone. You see, when you have a mortgage your lender is at risk for damages to your home because they have more money riding on it than you do. That is why they demand that you have home insurance. But if you think that you don’t need to look for home insurance quotes once your home is paid off, then consider this: if your home catches fire, floods, is vandalized or has any other insurable event happen to it then you must pay for the damages out of pocket unless you have insurance. You might not even have a home left to live in until you can find the money to pay for all the repairs and in the mean time, you will be forced to pay out of your own pocket for your temporary living space.

Of course, you can look for less expensive home insurance quotes once your home is paid off. You could consider raising your deductible since you no longer have a mortgage to pay off and can likely afford to pay more deductible out of your own pocket. You can look for lower limits as long as you stay within the range that your home is worth so you can be fully reimbursed for an event that destroys your home. You can even determine what is and isn’t covered based on how you perceive your risk.

Remember, while saving money on home insurance quotes is important, having an insurance policy that is there for you when you need it is vital. Don’t scrimp too much on the policy and make sure you look out for your own self-interest and bottom line.

With an HMO, you will be treated exclusively by doctors and medical treatment centers that are in the HMO network. If you receive treatment from someone outside of this network, unless it is an unpreventable emergency, your claim is likely to be denied. Unlike a PPO, HMOs do not offer any coverage for treatment received outside the network unless it is emergency treatment in an area with no network treatment centers or physicians. So if you have a favorite doctor that you or your children visit, make sure he or she is on the network list before you take out the HMO’s low cost health insurance coverage. If you don’t, then you will be forced to pay out-of-pocket for the full cost of all your visits to this physician.

With an HMO you are likely to have a copayment amount each time you visit a doctor or treatment facility. The copayments are fixed dollar amounts that will be listed out on your policy and possibly on your insurance card. They do not vary although they may be increased when your policy is renewed.

Some HMO plans have deductibles which is an amount of money that you must pay out-of-pocket before the policy kicks in and pays a benefit. These deductibles are variable and you can choose yours when you take out your policy. The larger your deductible the less expensive your insurance premium will be.

Your policy will also have a limit, or cap, in the amount of benefit you can receive over your lifetime. This protects the insurance company from having to commit to pay too much in benefits. Since the limits are usually set above one million dollars, it’s doubtful that most consumers will need to worry about exceeding them.

Remember, check your rates, choose an affordable deductible and a reasonable limit, and check that your favorite physicians are on the network list before you take out an HMO plan. Then your family will be happy, safe, well cared for and not at financial risk.

Imagine how difficult it would be to develop auto insurance rates if you had no idea how much you might possibly have to spend on a particular accident. It would be almost impossible. From medical expenses to emotional damages, from property damage to auto damage-there is no end to the amount of money you could be responsible for without limits to your benefit set.

When you get your auto insurance rates and quotes, you are asked to decide what kind of limit you want on your policy. The lower the limit you choose the less the insurance company knows it will have to spend per insurable interest-and that means the lower the rates you are quoted. But if you choose a limit that is too low in your eagerness to get cheap auto insurance rates then you run the risk of hurting yourself. Why? Well what do you think happens if it costs more to fix your car after an accident than the limit in your policy provides? That’s right-you have to pay it out of pocket. Any expense that exceeds your limit must be paid by you and if you don’t have the funds available then you run the risk of having your car in the shop and unrepaired much longer than you intended.

For guidance on limit setting, check with your mechanic to get an idea of repair and replacement costs for your car. Also, check with your insurance company to see if they have any data that will give you the average amounts for claims of various natures in your state. Lastly, make sure the limit you choose looks like one that will cover the bulk of any accident or insurable event and doesn’t seem like it will leave you paying out-of-pocket beyond your deductible.

A deductible is the amount of money that you need to pay out of pocket toward damages on your vehicle if you suffer an insurable event like an accident or car theft. Deductibles are only paid when you have damage that is covered by your insurance policy-otherwise, all damages will come out of your pocket or that of the person responsible for causing the accident.

Because a deductible must be paid out of your own, personal funds, it is important that you choose a deductible that you can actually afford to pay. Otherwise, you might end up with a deductible that hurts your savings, results in additional debt and prevents you from being able to get your car in working order. Without a car in working order you could suffer other financial difficulties such as the loss of a job.

It is tempting to choose a high deductible when shopping for an auto insurance quote because the higher your deductible is, the lower your auto insurance premium will be. Since accidents don’t happen to most people very often, it can seem like a real waste to pay for a high premium each and every month. But as tempting as that might be, ask yourself this-does it really matter? If you have a cheap auto insurance premium every month but you can’t afford the deductible, then you are switching one difficulty for another.

Instead, choose a deductible you can afford-one as high as you can afford-and then enjoy the resulting premium. That way, you will take advantage of as cheap a premium as you can get, you will have the comfort of knowing that you can afford your deductible if something should happen, and you won’t feel as though you are throwing away money on a policy that is not providing as much benefit as you need.

PPO stands for Preferred Provider Organization. A PPO plan is an insurance policy that allows you to seek medical treatment from a designated provider who is a part of a network of providers and medical treatment facilities that was created by the insurer. Everyone within the network agrees to work for a certain price. If you have a coinsurance amount in the plan, then this agreement to work for a certain price can help you keep your out-of-pocket costs affordable.

In a PPO you also have the freedom to visit a doctor or treatment center outside the network. You will not have all your medical costs reimbursed if you seek treatment outside the network, but your insurance policy will cover some of your expenses. That means if you have a doctor you love who is not in the network, you can still see him or her although it will be more expensive.

There are often copayment amounts with your PPO plan. These copayments are fixed amounts that you must pay your healthcare provider or facility for treatments you have had. You will generally receive a fixed list of these costs when you take out the policy so that you know what to expect.

Your PPO policy may also have a deductible, which is an out-of-pocket amount that you must pay before your insurance benefits will kick in-much like the deductible you have for your auto insurance or homeowners insurance policy.

And because insurance companies cannot guarantee unlimited coverage for all the medical expenses you might have over the course of a lifetime, your PPO policy will likely have limits that are the maximum benefits your policy will pay out. Since most limits are set at one or more million dollars it is unlikely that you will need to worry about exceeding these limits over your lifetime.

So before you decide whether to use an HMO or a PPO to fulfill your insurance needs, make sure you compare the benefits and drawbacks of each plan and find the one that works best for your lifestyle and budget.

Recent college graduate: If you have recently graduated college then you have bills. You probably have student loans, credit card bills and maybe even a car payment. Each of those bills should be taken care of by a life insurance policy you buy. In addition, your policy should pay for your burial.

Single adult: As a single adult you may have a mortgage, car payment, student loans, credit card balances and furniture that you still owe money on. In order for your estate to avoid being a burden on your parents and loved ones, your life insurance policy should pay off all this debt and supply payment for your burial expenses.

Newlywed: As a newlywed you have much the same debt as you did as a single, but you also have a spouse who is depending on your income and contribution to sustain his or her daily life. So in addition to having a death benefit that pays your debt off and your burial expenses, you should consider it supplying enough money to supplement your income for your spouse.

Parent with young children: With young children, your life insurance policy should pay off all debt your spouse would be left with, should pay off your burial expenses, should provide income supplement for your spouse and should leave a little behind to help your children deal with your loss. Money for counseling, private school tuition and any other needs your spouse might not be able to afford alone.

Parent of teens: With teen children, you must consider all of the above expenses and you should think about college tuition for your children as well as leaving them a legacy.

Pre-retiree: As a pre-retiree, you have a spouse whose retirement partially depends on your financial contribution. So while your life insurance policy should pay off all debt it should also make a contribution to your spouse’s retirement funds.

Retired senior: As a senior, you may begin to simplify your life insurance needs. You likely have less debt than you did, your children are through college, and your retirement has already begun. Consider buying enough life insurance to leave a legacy for your family and ensure your spouse lives the rest of his or her days comfortably.

Your motor vehicle report: Your motor vehicle report (MVR) is a report that shows your driving record. It shows all the tickets you’ve gotten for reckless driving, speeding, and not obeying general traffic laws. This report is extremely important in determining how risky you are to insure. If you have many tickets and incidents on the report that show you are not a responsible driver, then you are going to be expensive to insure because the auto insurance company is going to assume that your recklessness translates into expensive claims for anyone who insures you. The underwriters will then decide to charge you a higher premium than you might expect in order to offset the likelihood of claims.

Your age: The older you are, the more likely you are to be an experienced and responsible driver and the less expensive your premiums are likely to be-until you hit a certain age. Because as you start to get older, you again become more risky as a driver because you are less sharp witted, have worse eyesight and less hand-eye coordination. So whether you are too young, too old, or right in the middle, it will have an effect on your auto insurance underwriting and premiums.

Your gender: Unfortunately for the masculine set, male drivers (especially those who are young) are seen as riskier bets by insurers. Males are often considered to be risk takers and less responsible than their female counterparts.

Your relationship status: Married individuals are often seen as more stable and responsible by auto insurance underwriters. Singles get a bad rap and are often charged more for auto insurance.

Your car: If you drive a flashy, speedy, light and rocket ready sports car, then you are likely to be charged a higher premium than someone who drives a four door sedan. Sports cars are often purchased by people who want to test out the speed and handling of the car and usually want to push the car to its limits. That doesn’t always reflect well when an underwriter is looking to set the premium for your auto insurance policy.

Install more smoke alarms: The less time a fire has to damage your home, the less likely you will have an insurance claim. So not only can the presence of smoke detectors in your home lower your initial quoted home insurance premium but it can also reduce your likelihood of future expensive claims that increase your premiums.

Install a burglar alarm: Taking appropriate measures to discourage the theft of items from your home is a great way to save on home insurance premiums. A burglar alarm will alert you and your local police if someone attempts to break in to your home. This will allow your insurance company to offer you less expensive premiums and prevent claims that result in even higher premiums.

Avoid the flood zones: There are many areas in your town that are considered flood zones. These areas are prone to being flooded during rain storms, hurricanes and possible damn issues. While a traditional home insurance policy won’t cover you against flood damage, you will be required to buy a flood policy if you live in a flood zone and have a mortgage. Instead, simply avoid buying a home in this dangerous area and you won’t need to spend money on the policy.

Know your codes: Many homeowners will attempt to make changes to their property without going to the codes department in their city and getting a permit then getting the work inspected. But codes are developed to preserve your safety as well as the safety of your neighbors. By following the codes and getting work to your property inspected, you reduce the risk of a claim against your home insurance and help to keep the premiums low.

So there you have it. A few simple and affordable ways to keep your home insurance premiums low and reduce the likelihood of claims against your policy. Try to institute some of them today and you will go far in making your home happier, safer and less expensive to insure.

If an insurable event should occur in your home, then you could lose every possession you have in your home. Your furniture, electronics, books, antiques, cookware, clothes-everything you have. While you look around your home you might not think that it would cost much to replace these items, but if you really consider that you could need to replace every single item you own, the cost of these items would be staggering. Even just replacing the toys your children treasure could cause a significant and damaging impact to your budget.

A home insurance policy that provides coverage for the contents of your home can take away much of the financial burden that a substantial loss could impose. It can help you get back on your feet and put your life back to normal after a disaster. Without this coverage, you might be able to get your home rebuilt or a new home purchased-but you won’t be able to furnish the home. All the touches that make your house a home would be missing-from throw blankets to beds, knick-knacks to bookshelves, dinnerware to area rugs. Not to mention the things you desperately need, like clothing, shoes and linens.

So no matter how much additional premium contents coverage causes within your home insurance premium, don’t skip out on the coverage and cheat your family out of the kind of protection they deserve. Get complete coverage that will help put your family back to rights after an insurable event and lessen the trauma that the insurable incident can cause.

1. They can grow at a fixed rate like in a traditional whole life policy.
2. They can grow at a variable rate by choosing a sub account to invest them in. Sub accounts in a variable policy may have fixed investments like money markets, they may have stocks, bonds or mutual funds.
3. They can grow at a variable rate tracking the returns of a specific index-like the S&P 500 or the Dow Jones Industrial Average.

The third kind of growth is seen in an equity indexed life insurance policy. When you have an equity indexed life insurance policy, your cash values grow as they would in a variable policy but the sub account you choose is created to mimic the performance of a particular index. If that index goes up, then your cash value will likely go up. But if the index goes down, then so will your cash value.

One of the most important things to remember about an equity indexed life insurance policy is that there is no guarantee that you will earn money. Many illustrations for life insurance will show the great amounts of cash that can be accumulated in an equity indexed life insurance policy, but there is always the chance that the index you choose for your sub account will go down in value and will reduce the cash values you accumulate. The great things about equity indexed life insurance policies, however, is that they often have a floor, or minimum amount that you are guaranteed to gain. While this threshold is often significantly less than the fixed rate of return in a traditional life insurance policy, it at least offers some sort of gain while markets are down. On the other hand, there is also often a ceiling or maximum gain you can experience which may be less than the actual increases experienced by the index that you choose.

COBRA: The Act that allows for continuation of group coverage for a limited time after you leave the group.

Co-insurance: The amount you must pay for treatment after copayments and deductibles.

Copayment: The fixed amount that you must pay out-of-pocket for physician visits, medical procedures and prescription medications.

Deductible: The out-of-pocket amount you must pay before your policy benefits start kicking in.

Exclusions: Any medical conditions or illnesses whose expenses are not covered by your insurance policy.

HIPAA: A health insurance Act that sets privacy standards in an electronic world and guarantees portability of coverage and new policy issue after COBRA benefits run out, as long as there has not been a significant break in coverage (varies by state but usually at least 63 days).

HMO: A type of insurance policy that allows only treatment within a set network of physicians and facilities.

Lifetime limit: The maximum amount your insurer will pay out in benefits.

PPO: The type of insurance policy that has a network of physicians but still allows you to visit physicians and facilities outside the network for a reduced benefit.

Pre-certification: Some insurance companies require that you get preapproval from them before you have surgery or other medical procedures. This is called a pre-certification.

Pre-existing conditions: Any illness, injury or chronic disease you suffered from before you took out your insurance policy is considered a pre-existing condition.

Premiums: The fee that you pay to your insurance company monthly, annually or quarterly is your premium.

Underwriting: The process of reviewing and evaluating the risk you pose to the insurance company based on your medical history.

Waiting period: The amount of time you must wait before your pre-existing conditions are covered by your policy.

The Difference between Individual and Group Policies

Before you get a health insurance quote you should understand the difference between group and individual health insurance policies. Group health insurance policies are those issued to employer, fraternal or trade groups. They have advantageous rates because there is a distribution of policies to both sick and healthy people. In addition, group insurance policies are not individually underwritten so your individual health problems are not taken into consideration when you buy into a group health insurance plan.

Individual insurance policies are issued to individuals and families. The rates are based on the health history and potential health future of the individuals the policy is issued to. The policy issuance is not dependent on being a member of any particular group. You can be denied coverage if you have certain illnesses unless you live in a state with guaranteed issue policies.

The Drawbacks to Group Health Insurance Policies

You can only keep a group health insurance policy for as long as you are a member of the group. Once you leave the group you may have access to COBRA, which allows you to carry the group insurance coverage up to 36 months after you leave the group. If you get a group policy while you are healthy and then you become chronically ill while you have the policy, you may no longer be able to get your own individual policy.

Additionally, while you may be able to choose between plans in your group’s benefit profile, there is no guarantee that the group will offer the type of policy or coverage options that you and your family really need. You may be subject to a restrictive set of doctors and treatment centers, may not be able to see doctors that you are used to seeing and may not have certain care options that you are used to getting.

In short, if group health is the only kind of policy you can get due to poor health or financial issues, then it is a good choice. Otherwise, an individual policy may be a better bet.

Choosing an Insurance Company

One of the best ways to make sure you choose an auto insurance company that can afford your policy is to check the company’s AM Best rating before you take out the policy. AM Best is an insurance rating company that examines the financials of an insurer in order to determine how likely that insurer is to be able to pay the claims it receives. By checking the company’s balance sheets, income statements, insurance policy load and other information AM Best can get a good idea of whether or not they can handle their financial load.

Once they assess the financials they give a letter grade to each insurer. These letter grades give you an idea of just how capable AM Best things the insurer is. Generally, you want to choose an insurer with an A rating or higher. You don’t need a special sign in or a paid membership in order to access the ratings, you just need to go to the website and look up the insurance company.

Before you decide that you don’t need to worry about the rating of your insurer and instead can just pick the cheapest auto insurance rate and move on with your life, remember-an insurance company is only as good as its ability to pay your claims. If an insurer is unable to actually pay the claims of its premium paying clients than it is nothing more than just an empty promise-one that you pay for out of your own pocket.

Generally, most breeds of cats and dogs will not cause your home insurance rates to go up. But if you have a breed that is associated with aggression and dog bites, like a Pit Bull or Rottweiler, then you will likely experience an increase in premiums. The reason for this is because if your dog bites someone, then they can place a claim against your home insurance policy for the medical expenses caused by the treatment of the bite. They may even get some additional funds for stress and damages. By walking your dog on a leash and having a securely fenced area for the dog to play in you will reduce your likelihood of risk and may even reduce your premiums. Likewise, some exotic pets like monkeys, dingoes and sloths might carry increased premium risks. You’ll need appropriate pens and play areas to help keep your premiums down.

Another pet that may increase your home insurance premiums is a lizard or other cold-blooded creature. This may seem strange, but because you must have special warming lights and devices to keep your clod-blooded pet alive, it can increase your risk of having a fire which can increase your insurance premiums. Make sure to buy the right kind of equipment and keep it in good repair to help reduce your risk of a claim.

It is important that you disclose your pets to your home insurance company. You might think that by keeping your dangerous or risky pets a secret that you can get away without paying an increased premium. In reality, If you have a claim that is caused by these pets it will not be covered by your policy and you may even lose the policy because of your misrepresentation. It isn’t worth losing the investment you make in a home insurance policy to avoid the increased premium that certain pets can cause.

Cash values accumulate and earn a fixed rate of return in a universal life insurance policy. They are not subject to the volatility of the stock market and there are no sub accounts for you to choose. While the premiums of a universal life insurance policy may be flexible, there is a maximum that you can pay. If you exceed this maximum then you may accumulate cash values too quickly and a modified endowment contract (MEC) may occur. In a modified endowment contract, the value of your cash values rises too close to the value of your death benefit and the policy cash value becomes taxable. One of the great benefits of a universal life insurance policy is the tax-free accrual of cash values and the ability to take tax-free loans, so this is definitely something to avoid.

Unlike a term life insurance policy, universal life insurance policies offer a death benefit that is valid over the entire course of your life as long as you pay your premiums on time and keep the policy in force. There is no need for further underwriting as the years go by and no reason to find additional insurance. In a term policy, since the death benefit only covers you for a pre-determined term (or period of time) you might need further underwriting and could be at risk for a higher premium as your health deteriorates. Like all life insurance policies, riders can be added to the universal life insurance policy in order to increase its value. Souse riders, accidental death riders, child riders and accelerated benefit riders are just some of the choices you have.

Life Coverage in A Whole Life Policy

Whole life (or permanent life) insurance policies generally require medical underwriting and offers a death benefit for you entire life, as long as you pay your premiums in full and on time. If your health changes and you become uninsurable, it won’t matter as long as you keep your policy in-force. That is one of the benefits of a whole life insurance policy over a term life insurance policy, which will stop paying a life insurance policy after a pre-determined number of years.

Cash Value Growth and Accumulation

When you have a whole life insurance policy you pay more than just the cost of insurance. The additional premiums that you pay are put toward the accumulation of cash values. These cash values give your policy an added benefit that just a death benefit. Cash values can offer tax-free loans to the policy owner, a cash value given when the owner surrenders the policy and a source of funds for applied premium loans if the policy owner neglects to pay their premium.

Fixed Growth of Cash Values

One of the best aspects of a whole life insurance policy is that the policy’s cash values grow at a fixed rate. That means that instead of dealing with the ups and downs and general volatility in the stock market, you get fixed, guaranteed growth that is honored by the insurance company. In order to ensure that you choose an insurer that can both pay claims and keep your cash values growing according to the illustration, take the time to check the insurance company’s rating on AM Best. AM Best is a company that assesses the financial strength of insurers and assigns a letter rating representing their financial strength. When you choose a financially strong company then you can rest assured with the knowledge that your claims and cash value requests will be honored.

Health insurance pays for many things including illnesses, injuries from accidents and preventative treatments. But health insurance also pays for those medical expenses associated with a long, ongoing illness that you contracted before buying your most recent policy. If you buy a health insurance policy today, chances are good that the insurance company will incur many charges that result from the illnesses you already have. Because of this, your health insurance quotes are going to add additional premium that compensates for this likelihood. And even if you haven’t had an illness but a family member of yours has, then you are going to face a higher premium because the likelihood of you having a similar health profile to your relatives is high.

Also playing a part in your health insurance quote is your age, your gender and your weight. Like your health history and your family’s health history, you age, weight and gender all work together to make you more or less likely to suffer from certain illnesses. If you are overweight, then you are a likely candidate for expensive health problems like diabetes, heart disease, arthritis, cancer and more. That means your health insurance company is more likely to pay out more money for your health insurance claims. Because they realize this, they can charge additional premiums to help hedge against the greater claims that you will bring them.

That is why it is so important to make sure that you are in good health before you begin to obtain health insurance quotes. If you are then you can get affordable quotes that you can sustain.

Car Insurance Coverage Options: Coverage

Personal Injury Protection (PIP): PIP is required by some states. This covers your own personal injuries should you be involved in an accident. PIP would take the place of health insurance if it were used. PIP can also cover the medical or funereal expenses of others in your car.

Bodily Injury Liability: All but one state require two types of bodily injury liability coverage. This coverage pays the medical and other expenses that result from an injury inflicted on another driver (or their passenger) during an accident that is your fault. The two types of bodily injury coverage include single-person injury and multiple person injury.

Property Damage Liability: If you damage someone else’s property during a car accident, property damage liability will cover the expenses relating to that damage. Whether it is a car, a mailbox or even a front porch that is damaged, your property damage liability can cover it.

Uninsured or Underinsured Motorist Coverage: Not everyone driving on the road will have car insurance-even if it is required by law. And some who have car insurance do not have enough to actually pay the full extent of the claims they create through careless driving. In order to compensate for these shortages, drivers can buy uninsured or underinsured motorist coverage.

Car Insurance Coverage Options: Limits and Deductibles

When you get car insurance quotes, the coverage options you choose will affect the actual quotes you receive, but the limits and deductibles will also affect your car insurance quotes.

Limits: Your limits for each individual type of coverage you choose outline the maximum amount of insurance coverage your claims can get. The lower the limits you choose for your policy, the less expensive your car insurance quotes will be. But, that means that any amount of a claim exceeding that limit will need to be paid out of your own pocket.

Deductibles: Deductibles are those out-of-pocket expenses you should be paying before your insurance company steps in to pay the larger portion of the claim. High deductibles can equal lower premiums but also more out-of-pocket expense. Low deductibles will equal higher premiums and fewer out-of-pocket expenses.

What is life insurance underwriting?

Life insurance underwriting is the process of evaluating the amount of risk that you present to the insurance company. When a life insurance company looks at you as a potential policyholder, it must decide how risky your life is and how likely you are to die before they’ve gotten enough premium payments from you in order to make a profit on the policy.

In order to do this, the insurance company underwriter will look at your age, weight, smoking status and height and determine statistically how likely you are to die. Next, they will factor in your health history, family health and attempt to determine how risky the health history makes you.

The next step is to look at how all of these factors can work together to create combined future health problems and if anything in your health history will work to make you less likely to develop these future problems.

Lastly, the life insurance underwriter will look at your lifestyle and determine whether or not that makes you more or less of a risk. They will look at your moral turpitude, your vocation and your hobbies (avocation). The more risky a lifestyle you lead, the more likely your policy will be declined or charged higher rates.

As an example, when looking at your moral turpitude they might draw conclusions about your lifestyle based on the amount of drinking you do, any sexually transmitted diseases you might have had or any driving-related issues you have had.

When looking at your vocation, the life insurance underwriters might consider any travelling you do for work, what type of work you do and the amount of risk it presents to your life based on the actual duties of the occupation and the kinds of situations your work might put you in.

Lastly, looking at your hobbies, your life insurance underwriters will determine whether there is any kind of innate danger within your hobbies. For instance, if you enjoy finger painting, then you have a very low-risk hobby with little opportunity for injury or death. But if your hobby is motocross rating, then your mortality opportunities are exponentially increased and your underwriters will be more likely to rate or decline your policy.

1. Need a high dollar death benefit with a low dollar premium.
2. Need a temporarily high amount of life insurance death benefit.
3. Need a gradually decreasing amount of life insurance.
4. Need a simple, small burial policy.

Understanding Term Life Insurance

Term life insurance is a policy that offers the policyholder a death benefit for a limited period of time, generally anywhere from 5 to 30 years. Term life insurance rates are based on the actual cost of insurance alone and not on accumulating cash values (as they are in whole or permanent life insurance policies). This makes rates much cheaper. In addition, because the insurance company is only obligated to offer you insurance protection for a limited period of time, they have less risk of you actually dying during the term of the policy and can offer lower rates based on that reduced risk.

Uses of Term Life Insurance

As we mentioned above, term life insurance is the perfect product for many different situations.

• Because it has a low premium, it can offer affordable, high-dollar protection.
• Because it is issued for a set period of time, it offers a great resource for temporary protection.
• Term life insurance policies can have decreasing death benefits which can reduce the protection over time-mimicking the reduction in your bills as you pay off debt.
• Term life insurance is simple to understand since there are no complex cash value accumulation figures, and is a great product for small burial policies.

Comparing Life Insurance Rates

A term life insurance policy should be considered when you understand the ramifications of buying a term policy. Remember that you are paying for only a temporary insurance coverage and that, as your health changes and you age, getting new coverage can be expensive or impossible once your term policy ends.

Remember, the comparison of life insurance rates isn’t just about price. It should be about the coverage offered, the conditions of the policy and the way in which it fits in with your lifestyle, health and needs. After all, if a life insurance policy has cheap rates but doesn’t give you the kind of coverage that you need, then it can hardly be considered a good deal.

Understanding Variable Life Insurance

Variable life insurance is a form of whole (or permanent) life insurance. That means that once you have had a policy approved and issued it will offer you insurance benefits for your entire life as long as you pay the premiums in full and on time. Even if your health starts to take a downturn or your weight increases, no changes will occur within your policy.

When you pay premiums for variable life insurance, you are not just paying for the cost of insurance but also for the “cash value” which is the portion of the premium that accumulates within the policy to offer a pool of funds that can increase your death benefit, provide tax free loans, give you a value should you decide to terminate the policy and create a reserve pool of funds to pay your premiums.

The Variable Portion

The aspect that makes variable policies actually variable is the subaccounts that the cash accumulation portion of your premiums are invested in. These subaccounts are similar to mutual funds in that they are created by a group of investments, like stocks, that can provide a return on the funds that are deposited into them.

To understand this, think of your premium as serving two purposes. Part of it serves the purpose of paying for your actual cost of insurance-the actual death benefit that the life insurance policy provides. The cost of this benefit depends on your age and health when you buy the policy because they are directly related to your risk.

The second portion of your premium is applied to the cash accumulation (or cash value) in your policy. These funds are invested in the stock market by way of the subaccounts you choose and they value can increase or decrease depending on the performance of the underlying assets within the subaccounts.

This is what makes a variable life insurance policy both risky and rewarding. The subaccounts offer more risk than a fixed return would, but they also offer the opportunity for much more return-just as actually investing in the stock market could. But more importantly, no matter how poorly your subaccount investment return is, you will always have the death benefit as long as you pay your premium in full and on time.

Child rider coverage

You can buy life insurance for your children through a child rider on your policy. Generally, the purchase of one child rider will cover all children that you have, including those that you adopt. The rider generally offers $10,000-$20,000 (in increments of $5,000) in insurance coverage for each child and has a low premium expense. The rider is often convertible into individual policies once the children are of age. As you continue to have or adopt children, make sure you contact your insurer and supply them with the names of your children as well as dates of birth and social security numbers.

Spouse rider coverage

If you want to cover your spouse on the same policy you have, you can buy a spouse rider. A spouse rider pays a death benefit if your spouse should die before you do. It is important to understand that if your spouse dies after you die, there is usually no death benefit paid to your spouse’s beneficiary. In addition, they will have no access to cash value accumulation since the policy and cash values are owned by you, not the spouse. Spouse riders do not always offer the same extent of insurance death benefit as an individual policy would so it is important to make sure that it offers you and your family enough coverage to be financially helpful. Souse riders are generally not convertible into individual policies, unlike child riders. In the event of a divorce, a spouse rider will become invalid but you must still notify your insurer so that they do not continue to charge you the additional premiums.

Remember, every insurance company is different and has their own approach to offering a rider. This article series on riders is meant to give a general overview of options. It is not an exhaustive list of available riders and does not reflect the rules or policies of every insurer. Be sure you read the fine print and fully understand the riders you are thinking of adding to your policy before you commit to them. Remember to also explore the benefits of additional insured riders against the benefit of buying individual policies for your family members.

Return of premium rider

When you buy a term insurance policy, you are getting a death benefit for a limited period of time, and that is it. There is no cash value accumulation, no growth, and no guaranteed death benefit for life. While this doesn’t decrease the importance of having a term policy and certainly doesn’t undo the benefit of this low premium life insurance solution, it can leave some consumers feeling cold. And that is where a return of premium rider can come in handy. With a return of premium rider you will pay an additional premium for your term insurance policy and at the end of the term, if you do not die and trigger a death benefit payment, the insurance company will return your premium payments to you.

There is no interest collected or paid on the insurance premiums so for some investors, this may not be the best usage of the return of premium rider expense-and an expense it is. A return of premium rider can cost as much as an additional 100% of your premiums which makes it a pretty big decision to make. And remember, you must pay all your premiums in full and on time in order to get the return of premium. If you do not, you may lose the payments you’ve made thus far for the return of premium rider.

Waiver of premium rider

If you should become disabled it may be difficult if not impossible to pay your premium every month, quarter or year. A waiver of premium rider is your insurance company’s way of helping out in this event. If you have a waiver of premium rider and can prove your disability to your insurance company’s standards, then they will waive your premium payments for a limited period of time. While you can pay for insurance premiums out of the benefits paid out by a disability policy it can be more cost effective to invest in a waiver of premium rider and waive the premium if you become disabled. In addition, it may be extremely helpful to your budget since your disability policy may only pay enough to keep your living expenses in check.

There are many different types of riders. In this article, we are going to talk about additional benefit riders. These are riders that give you an additional benefit in your life insurance policy or additional access to your death benefit beyond accessing it after death.

Accidental Death Benefit

Not all deaths are the result of a long term illness or chronic disease. Some deaths are the result of an unexpected accident. An accidental death gives your family no time to prepare financially for your death and no time to emotionally prepare. That means that they may need additional resources upon your death to allow them the time and professional help necessary to grieve properly along with the financial resources to replace your income and pay off debts. An accidental death benefit rider can provide all these additional benefits and at a low additional premium.

Accelerated Benefit Rider

A terminal illness is difficult to deal with on an emotional level, but on a financial level it can be equally devastating. While suffering with a terminal illness you may not be able (or willing) to work. In addition, you may have medical bills and other treatment expenses that you can’t afford to pay for out of savings or with health insurance. Lastly, you may just want funds that enable you to live out some of your dreams with your family. An accelerated benefit rider allows you to access a certain percentage of your death benefit before you pass away. You must supply medical evidence of your terminal illness but once you do, the insurance company will provide you with funds that make your last few days, weeks or months more enjoyable, allowing you to focus on healing and enjoying your family rather than stressing over finances.

Before you agree to any particular riders, make sure that you get the details about the benefit and make sure that it fits in to your lifestyle and expectations so that you spend your money wisely on a benefit you and your family can use.

The best way to save money on life insurance is by comparing the quotes of many different life insurance companies. Each one has its own cost of insurance, its own underwriting standards and its own assessment of risk which is what determines the rates that are charged.

Cost of Life Insurance

The cost of insurance that your insurer charges will depend on the types of risk that they are undertaking and their assessment of how many of these risks will turn out to actual claims. If your insurer specializes in high-risk individuals, possibly even issuing non medically underwritten policies, then you may be working with an insurer with a higher cost of insurance.

Underwriting Standards

Some insurance companies set lower rates on certain risks than others. For instance, some insurance companies view smoking to any degree as the same kind of risk. In other words, even if you only smoke two cigarettes a year you might be considered to offer the same risk as a pack-a-day smoker. To other insurers, an occasional smoker is not considered as big a risk. Knowing your insurance company’s underwriting standards can go far in helping you find an insurer that will be kind to your lifestyle.

Why Compare Quotes?

When you first begin shopping for life insurance, the online quote comparisons you develop can be your key to getting the cheapest insurance out there. Rather than call each insurance company individually to try and determine what their cost of insurance and underwriting guidelines are you can simply get an online quote from many different companies all with just one simple questionnaire. This saves you time and energy and is the most efficient method of determining what insurer will offer you the best rates.

Remember that without comparing rates you will never know whether or not you could have gotten a cheaper life insurance policy rate. Not only will this cheaper rate fit better in your budget but it will also allow you to spend your money on things that you and your family would rather spend money on while still buying important coverage that protects your family long after you are gone.

ACH: If your premiums are taken right out of your bank account without you having to write a check to the insurance company, that is an Automated Clearing House transaction, also called ACH.

Beneficiaries: When you have a life insurance policy you are allowed to name the people who will receive your policy proceeds after death. The people that you name are your beneficiaries. Your primary beneficiaries are your first choice in receiving the funds. Your contingent beneficiaries are those you want to name in case your primary beneficiaries are deceased at the time of your death and are unable to receive the death benefit.

Cash value: If you have a permanent policy then you pay a certain amount of premium above your actual insurance costs. This additional money accumulates forming your cash values. You can borrow against these funds or cancel your policy and take receipt of them.

Death benefit: Your life insurance policy provides a certain dollar benefit to your beneficiaries after your death. That dollar amount that they receive is called your death benefit.

In-force: When you pay your life insurance premiums on time and your policy is active, it is considered to be in-force.

Lapse: If you neglect to pay your premium on time then your policy will no longer be active or in-force and it will not pay your death benefit to your beneficiaries if you die. This is considered a lapse.

Permanent: Permanent insurance is any type of life insurance policy that is intended to pay out a death benefit upon death of the insured no matter when it happens after the policy is purchased.

Premium: The payment you must make to the insurance company on the agreed date in order to keep your policy in-force.

Rider: Added benefits and coverages that you attach to a standard life insurance policy are called riders.

Surrender: If you no longer want your life insurance policy, and it has cash values accumulated, you can terminate the policy in exchange for a check for the cash values. This is called a surrender.

Surrender charge: If you have had your policy for a short amount of time, generally less than 10 years, there will be a penalty against your cash value that reduces the surrender value of your policy. This is called a surrender charge.

Term: A term policy is one that pays a death benefit only if a death occurs during a certain period of time.

Underwriting: Before you can take out a life insurance policy, someone must review your application and make sure that you are a good risk for the life insurance company to take on. This is called underwriting and during this process your medical records may be reviewed along with blood and urinalysis results and other test results.

1. Take pictures: Take pictures of all your rooms. That way, if you should have a claim, it is easy to show the possessions you want reimbursement for to your claims officer. It also makes it easier to prove the condition and value of the items you own.
2. Take necessary preventative precautions: After you buy a home insurance policy you still have some responsibility to keep your home safe and protected against insurable risks. That means you should have smoke detectors, carbon detectors, theft alarms, sandbags, appropriate locks, fire extinguishers and any other safety devices that help prevent or detect insurable events before they get out of control. This can help you avoid an insurance claim altogether. This can keep your insurance premiums low, your treasured possessions intact and your family safe.
3. Put your documents in a fireproof safe: All of your important phone numbers, bank information, insurance documents and pictures of your rooms should be placed in a fireproof safe so they are easily accessible and safe after a fire or other incident. Because you have so many important documents in one easily accessible location, it is important that you take safety precautions against the potential theft of your safe. Make sure you put it in a hard to find location and that you make it difficult to carry out of your home. Also, be sure you choose a combination that is not obvious or based on something researchable like birthdays or anniversaries.
4. Create an emergency plan: There is no insurance coverage that guarantees the safety of your family. This is why you must have an emergency plan that keeps everyone you care about safe during a fire, storm or other dangerous event. Be sure to have a stocked first aid kit as well as a source of non perishable food items. Always have extra bottled water in your home and create an emergency evacuation plan. Agree on a meeting place for your family members and determine what circumstances might precede your meeting there.

Remember, preparedness is your friend in an emergency or dangerous situation, and you can never be over-prepared. Take the time to protect your family and home against peril and you will be grateful you did.

Wyoming Auto Insurance

Wyoming auto insurance regulators have not required drivers in this at-fault state to get personal injury protection (PIP) coverage or uninsured motorist coverage. The state does require liability coverage, including a minimum of $25,000 bodily injury liability for a single person injury, $50,000 for a multiple person injury and $20,000 for property damage liability.

Wyoming Health Insurance

Wyoming health insurance regulators do not require the state’s health insurance providers to offer guaranteed issue policies to individual policyholders. The state does have a high-risk pool but, since they do not have state taxes, there is no deduction for health savings account (HSA) contributions on the state level.

Groups with 2 or more people can get group health insurance in Wyoming, but the pre-existing conditions of the members can be excluded for up to 12 months if they had a break in coverage over the past 6 months that lasted 90 or more days. Group health rates are restricted by rate bands.

Wyoming Home Insurance

Residents of Wyoming have a pretty easy time when it comes to home insurance. The state is not prone to any repetitive natural disasters and Wyoming home insurance regulators do not require residents to carry insurance. Of course, if you have a loan or mortgage on your home you may be expected to carry insurance by your lender. No matter how few natural disasters a state has, every homeowner is at risk of fire, water, mold, liability and theft and should have home insurance in order to protect their largest asset from these perils.

Wyoming Life Insurance

The Wyoming Life and Health Insurance Guaranty Association Act was created by Wyoming life insurance regulators in order to protect life insurance policyholders in the state from their insurer becoming insolvent after premiums are paid but before claims are paid. The act provides up to $300,000 in life insurance death benefits and $100,000 in cash surrender value to qualifying residents.

Wisconsin Auto Insurance

Until recently, Wisconsin auto insurance regulators did not require resident drivers to have auto insurance. The state now requires drivers to have at least $50,000 bodily injury liability for single-person injuries, $100,000 bodily injury liability for multiple person injuries and $15,000 for property damage liability. They do not require personal injury protection (PIP) and this at-fault state does require uninsured motorist coverage.

Wisconsin Health Insurance

Wisconsin health insurance regulators do not require health insurers to issue individual policies to people who are uninsurable. They do have a state high-risk pool that gives some recourse to those that insurers won’t touch. They do not, however, allow the deduction of health savings account (HSA) contributions from state taxes.

To be considered a “group” for group insurance purposes, groups in Wisconsin must have at least 2 members. Individuals within the group can have their pre-existing conditions excluded for up to 12 months if they have had a break in coverage of 63 or more days during the past 6 months. Group rates in Wisconsin are protected by rate bands.

Wisconsin Home Insurance

Wisconsin home insurance regulators do not require residents to carry home insurance. If you have a mortgage or equity loan on your property, your individual lender might require some coverage. Residents and homeowners of the state should be sure to have adequate coverage for tornadoes.

Wisconsin Life Insurance

The Wisconsin Insurance Security Fund was established by Wisconsin life insurance regulators in order to protect residents of the state against insurer insolvency. They provide up to $300,000 in death benefits and cash surrender value for qualified residents whose insurance companies have gone bankrupt.

West Virginia Auto Insurance

West Virginia auto insurance regulations require uninsured motorist coverage and liability insurance for its residents, but no personal injury protection (PIP) and is an at-fault state. Resident drivers are required to carry at least $20,000 in bodily injury liability coverage for single-person injuries and $40,000 for multiple person injuries. They also require $10,000 for property damage liability.

West Virginia Health Insurance

West Virginia health insurance is not issued on a guaranteed basis to individuals in the state, although HMOs with 50,000 or more enrollees that have been in existence for more than 5 years must have open enrollment for one 30-day period each year. The state also has a high-risk pool and allows health savings account (HSA).

Groups with at least 2 people are considered for group health insurance in West Virginia. Any individual participant who has been without insurance coverage for 63 or more days over the past 6 months can have his or her pre-existing condition excluded from coverage for up to 12 months.

West Virginia Home Insurance

West Virginia home insurance regulations do not require all homeowners to carry insurance. The state is prone to hurricanes so it is advisable that homeowners adequately insure their homes, even if they don’t have a mortgage, to protect against them.

Because residents of West Virginia have experienced repeat flooding, the Federal Emergency Management Agency (FEMA) is developing a grant program to assist some homeowners by either buying their homes and re-zoning the land for parks and other purposes that cannot be damaged by floods, raising their homes to be above flood waters, or relocating their homes.

West Virginia Life Insurance

In order to protect life insurance customers from insurer insolvency, West Virginia life insurance regulators created the West Virginia Life and Health Insurance Guaranty Association in 1977 to provide some benefits to qualified policyholders and beneficiaries whose insurers had gone bankrupt. They provide up to $300,000 in death benefits and $100,000 in cash surrender values.

Washington Auto Insurance

Washington auto insurance regulators do not require personal injury protection (PIP) or uninsured motorist coverage for their drivers but this at-fault state does require two types of liability coverage. Drivers are required to have at least $25,000 in bodily injury liability for single-persona injuries, $50,000 for multiple persona injuries and $10,000 in property damage liability. The state regulators also do not allow auto insurance companies to cancel policies or refuse to renew them because of the credit of the insured.

Washington Health Insurance

Washington health insurance regulators have created a health screening that requires insurers to offer guaranteed insurance coverage for individuals with a particular score on the screen. Those who fall below a certain score are informed about the state’s high-risk pool. Washington state has no state income tax, so there is no deduction on the state level for health savings account (HSA) contributions.

Washington health insurance group policy regulations allow any groups with at least 2 members to get a group policy. The insurers can exclude any individual’s pre-existing condition for up to 9 months if they had a 90-day or longer break in coverage over the past 6 months. Group rates are restricted by adjusted community bands.

Washington Home Insurance

Washington home insurance regulations do not require homeowners to have insurance, although tier individual lenders may. Washington residents should be ready to face the possibility of earthquakes and should make sure they have adequate coverage for that eventuality.

Washington Life Insurance

The Washington Life and Disability Insurance Guaranty Association was formed in 1971 by Washington life insurance regulators for the purpose of providing protection to the state’s consumers against insurer insolvency. The association offers up to $500,000 in both life insurance death benefit and cash values.

Virginia Auto Insurance

Virginia auto insurance regulations do not require personal injury protection (PIP) coverage for their drivers but they do require uninsured motorist coverage. This at-fault state also requires $25,000 in bodily injury liability for single-person injuries, $50,000 for multiple person injuries and $20,000 in property damage liability.

Virginia Health Insurance

With Blue Cross as the insurer of last resort, Virginia health insurance regulators have made up for the fact that there is no requirement for guaranteed individual coverage and no high-risk pool in the state. They also allow state income tax deductions for health savings account (HSA) contributions.

Virginia group health insurance can be issued to groups as small as 2-people and an individual’s pre-existing condition can be excluded from group coverage if they had a 63-day or longer break in coverage over the past 6-months. Exclusions cannot exceed 12-months and group insurance rates have no rating restrictions.

Virginia Home Insurance

Virginia homeowner insurance regulators do not require that every homeowner carry insurance. However, with the state’s risk of hurricanes and tornadoes and each homeowner’s risk of theft, fire and other incidents, home insurance is an extremely valuable coverage to have. It is also important to note that individual lenders have their own coverage requirement, so you should check your loan documents before deciding what kind of coverage to have.

Virginia Life Insurance

The Virginia Life, Accident and Sickness Insurance Guaranty Association, created in 1976, was Virginia life insurance regulator’s answer to the concern of some insurance consumers that their insurers may become insolvent and unable to pay claims. The association provides up to $300,000 in death benefits and $100,000 in cash values to consumers who qualify.

Vermont Auto Insurance

Vermont auto insurance regulations do not require drivers to have uninsured motorist coverage or personal injury protection (PIP) and it is not a no-fault state. They do require $25,000 in bodily injury protection for single-person injuries and $50,000 for multiple person injuries. They also require a mere $10,000 in property damage liability.

Vermont Health Insurance

Vermont is one of only 6 states that require insurers to guarantee the issue of individual policies. As such, they have no high-risk pool. They do allow the deduction of health saving account (HSA) contributions from state income taxes.

Small groups in Vermont with only 1-person can get group health insurance. Individuals within the group who’ve had 90-day or longer breaks in coverage during the past 6-months can have their pre-existing conditions excluded for up to 12-months. Vermont health insurance group rates are restricted by adjusted community rating.

Vermont Home Insurance

Vermont homeowners are not generally exposed to frequent tornadoes, earthquakes or floods, though they can get the occasional hurricane. Vermont health insurance regulations do not require residents to have home insurance but their individual lenders may. And while they may not be exposed to many natural disasters, Vermont residents can still be exposed to fires, snowstorms, theft and other insurable incidents that make insurance a valued asset.

Vermont Life Insurance

The Vermont Life and Health Insurance Guaranty Association was created by Vermont life insurance regulators in 1971 and provides up to $300,000 of death benefit and $100,000 of cash surrender values to qualifying policyholders and beneficiaries whose insurers have become insolvent and cannot pay claims.

Utah Auto Insurance

Utah is one of just a handful of states that does not allow insurers to cancel and auto insurance policy or refuse to renew one based solely on the credit of the driver. Utah auto insurance regulations require resident drivers to carry personal injury protection (PIP) and $25,000 in bodily injury protection for single-person injuries, $65,000 for multiple person injuries and $15,000 for property damage liability. This no-fault state will allow a single combined policy to meet its policy limit requirements.

Utah Health Insurance

Utah health insurance regulations call for insurers to have an enrollment cap that they must meet. This requires them to issue a limited number of guaranteed issue individual policy. Since not every uninsurable individual will get a policy, the state also has a high-risk pool and allows for a state income tax deduction of health savings account (HSA) contributions.

Utah health insurance regulations allow groups as small as two people to get group health insurance. Insurers can exclude a member’s pre-existing condition up to 12-months if that member had a 63-day or longer break in coverage over the past 6-months. Group rates are kept under control with rate bands.

Utah Home Insurance

A pit-bull attack in Hurricane, Utah is wreaking havoc with home insurance companies nationwide. Many in Utah are pushing for a state-wide ban of pit-bulls. No matter where you stand in the issue, it is important to remember that certain breeds of dog (including pit-bulls) can result in higher insurance premiums for you.

Utah home insurance regulators do not require residents to have coverage, although the individual lender they have their mortgage or equity loan may. No matter what, with all the potential liabilities and damages that could befall a Utah homeowner, it is not coverage you want to go without.

Utah Life Insurance

The Utah Life and Health Insurance Guaranty Association, created in 1979, was formed in order to protect Utah life insurance policyholders and their beneficiaries from insurers who become insolvent and can no longer pay claims. They provide up to $500,000 in life insurance benefits and $200,000 in cash surrender values to qualified consumers.

Texas Auto Insurance

Texas auto insurance regulations do not require the state’s resident drivers to carry uninsured motorist coverage or personal injury protection and it is not a no-fault state. But that’s where all the light Texas auto insurance regulations end. The state requires drivers to carry at least $30,000 in bodily injury liability for single-person injuries and $60,000 for multiple person injuries. In addition, they require $30,000 in property damage liability.

Texas Health Insurance

Small groups in Texas can get group health insurance if they have at least 2 members. Texas health insurance regulations require all prior coverage to be credited, but can exclude pre-existing conditions for up to 12 months.

Individual insurance policies are not issued on a guaranteed basis but Texas does have a high-risk pool for those who are uninsurable. The state has no income tax so there is no need to deduct health savings account (HSA) contributions from anything but federal taxes.

Texas Home Insurance

The past three years have been difficult on Texas residents and insurers with over $25.5 million in damages caused by weather. This has caused Texas home insurance rates to increase substantially. And while Texas home insurance regulators do not require homeowners to have coverage, the recent damage caused by hurricanes and tornadoes should indicate to residents how vital this coverage is.

Texas Life Insurance

The Texas Life, Accident, Health and Hospital Service Insurance Guaranty Association was created by Texas life insurance regulators in 1973. It protects the interests of life insurance policyholders and beneficiaries whose life insurance companies are unable to pay claims or surrender values due to insolvency. The group offers up to $300,000 in life insurance death benefits and $100,000 in cash surrender values to qualified parties.

Tennessee Auto Insurance

Tennessee auto insurance regulations do not require resident drivers of this at-fault state to carry personal injury protection (PIP) or uninsured motorist coverage. They do require $50,000 in bodily injury liability in the event of a multiple injury accident, and $25,000 for a single-person injury. They also require $15,000 in property damage liability.

Tennessee Health Insurance

Tennessee health insurance regulators do not require insurance companies operating in the state to offer guaranteed health insurance policies to individuals. That means some will be uninsurable, but there is a state high-risk pool that will help them get the coverage they need. Since Tennessee does not have a state income tax, there is no deduction for health savings account (HSA) contributions on the state level.

A group with as few as 2 members can be considered a qualifying group for group health insurance. Individuals within the group who have had a 63-day or longer break in coverage over the past 6-months may find that the group insurance policy excludes their pre-existing condition for up to 12-months. In groups with 3-25 people, the rates are protected by rate bands.

Tennessee Home Insurance

Exposed to hurricanes and tornadoes, Tennessee residents may not be required to have Tennessee home insurance by state regulators, but they’d be awfully exposed without it. In 2010, the state was met with an historic and life-changing flood that has resulted in many lost homes, businesses and lives. It is an unfortunate lesson for all those without adequate flood insurance coverage.

Tennessee Life Insurance

The Tennessee Life and Health Insurance Guaranty Association was created in 1989 by the Tennessee life insurance regulators in order to answer the concerns of consumers who were scared that their life insurance company might become insolvent and unable to pay claims as promised. The association provides up to $300,000 in death benefits and $100,000 in cash surrender values to qualified claimants.

South Dakota Auto Insurance

When you consider South Dakota auto insurance regulations, know this: the state does not require any personal injury protection (PIP) coverage. It does, however, require at least $25,000 in bodily injury liability for single-person injuries and $50,000 for multiple person injuries. They also require uninsured motorist coverage and at least $25,000 in property damage liability. South Dakota is not a no-fault state.

South Dakota Health Insurance

Like most states in the U.S. South Dakota health insurance regulations do not require health insurers that operate in the state to offer a guaranteed issue product to individuals. And since there are not state income taxes, there is no need to deduct health savings account (HSA) contributions from any state filings. South Dakota does have a high-risk pool for uninsurable individuals without access to group coverage.

Small groups in South Dakota can consist of as few as 2 people and there is no guarantee that an individual within the group who has pre-existing conditions that went without coverage for 63 or more days in the previous 6 months will not have the conditions excluded for up to 12 months. Rate bands are in place to help restrict group insurance rates.

South Dakota Home Insurance

South Dakota home insurance is not required by state regulators, but individual lenders in the state may require it of their customers. Residents are particularly at risk for experiencing tornadoes and should make sure they have adequate home insurance coverage.

South Dakota Life Insurance

The South Dakota Life and Health Insurance Guaranty Association was formed in 1989 in order to protect consumers and life insurance policyholders against the unlikely event of lost life insurance claims and cash values due to insurer insolvency. The association offers up to $300,000 in life insurance death benefit protection and $100,000 in cash value protection.

South Carolina Auto Insurance

South Carolina auto insurance regulations require uninsured motorist coverage, bodily injury liability and property damage liability. The at-fault state does not require personal injury protection (PIP). Their requirements are:

• $25,000 in bodily injury liability for single-person accidents and $50,000 for multiple
• $25,000 for property damage liability

South Carolina Health Insurance

South Carolina health insurance regulations do not require health insurers in the state to guarantee the issue of health insurance policies to individuals. The state does have a high-risk pool for eligible individuals and does allow health savings account (HSA) contribution deductions from state income taxes.

Small groups in South Carolina must consist of at least 2 individuals and there is no guarantee of coverage if any individual with a pre-existing condition had a 63 day or longer break in coverage over the past 6 months. They could face a pre-existing condition exclusion of up to 12 months. Group rates are restricted by rate bands.

South Carolina Home Insurance

South Carolina residents are not required by the state to have South Carolina home insurance, but residents should be careful to have adequate coverage for floods, hurricanes and tornadoes whether or not their lender or the state require it.

South Carolina Life Insurance

The South Carolina Life Accident and Health Insurance Guaranty Association (SCLAHIGA) was created in 1972 to ensure that South Carolina life insurance customers had some recourse in the event that their insurer became insolvent and could not pay their claims. SCLAHIGA offers up to $300,000 in life insurance death benefits to those beneficiaries who have had a claim unpaid for insolvency. It is unclear what the protection is for life insurance cash values.

Rhode Island Auto Insurance

Rhode Island auto insurance regulations do not require personal injury protection (PIP) coverage but do require uninsured motorist coverage in this at-fault state. In addition, they require drivers to have at least $25,000 in property damage liability coverage, $50,000 in bodily injury liability for single-injury accidents and $50,000 for multiple injury accidents. But policyholders in Rhode Island can also satisfy these requirements with a combined policy.

Rhode Island Health Insurance

Rhode Island health insurance regulators may not require all individual policies to be guaranteed issue, but they do require continuous coverage be available to individuals who have had creditable coverage for 12 consecutive months. The state does not have a high-risk pool but they do allow state income tax deductions for health savings account (HSA) contributions.

Group health insurance policies can be obtained by groups as small as one member. In one-member groups, coverage must be guaranteed unless the applicant is eligible for group coverage elsewhere. Individuals within the group who have a pre-existing condition can have their condition excluded for up to 6 months if they had a 909 day or longer break in coverage over the past 6 months.

Rhode Island Home Insurance

Rhode Island isn’t prone to many natural disasters other than the occasional New England hurricane. Unfortunately, 2010 brought many Rhode Island home insurance companies flood claims that were unpaid because residents did not have proper flood coverage. The Federal Emergency Management Agency (FEMA) is stepping in with some grants, but this should serve as a lesson to uninsured or underinsured homeowners everywhere to beef up their coverage. After all, FEMA may not give grants when you are in need.

Rhode Island Life Insurance

In 1985, the Rhode Island life insurance regulators created the Rhode Island Life and Health Insurance Guaranty Association. The association was formed in order to ensure that life insurance policyholder’s who were denied claims because an insurer became insolvent, would have some recourse. The association provides up to $300,000 in death benefits and $100,000 in cash surrender value payments to qualifying policyholders.

Pennsylvania Auto Insurance

Pennsylvania auto insurance regulations make this a no-fault state with required personal injury protection (PIP) and not required uninsured motorist protection. The state does require drivers to have at least $5,000 in property damage liability coverage, $15,000 for single-person bodily injury liability and $30,000 in multi person bodily injury liability.

Pennsylvania Health Insurance

Pennsylvania health insurance regulations do not utilize a state-subsidized high-risk pool and do not require insurers to issue individual policies on a guaranteed basis. They do, however, offer an insurer of last resort. If you contribute to a health savings account (HSA) in Pennsylvania then you can deduct your contribution from your state income taxes.

Small groups in Pennsylvania can have as few as 2 members. Pennsylvania health insurance regulators do not require guaranteed issue policies to all members; as such, if any member with pre-existing conditions has had a break in coverage for 63 or more days during the past 6 months their condition can be excluded for up to 12 months. Group plans have no rating restrictions in Pennsylvania.

Pennsylvania Home Insurance

In 2010, Pennsylvania home insurance current and future customers got a bit of a boon in the approval of Traveler’s Insurance’s proposed discounts for green home improvement products. This means those with home insurance can enjoy a discounted rate if they make ecologically friendly choices in their home improvement materials. The state regulators do not require homeowners to have insurance or to make these updates, but they are great decisions for those looking to protect their most important asset.

Pennsylvania Life Insurance

Pennsylvania life insurance regulators created the Pennsylvania Life and Health Insurance Guaranty Association to assist policyholders in the event that their life insurance company was unable to pay claims as a result of insolvency. The association has been in effect since 1978 and provides up to $300,000 in death benefit protection and $100,000 in cash surrender values.

Oregon Auto Insurance

Oregon auto insurance regulations have driver protection in mind but are not unaffordable for most. They require uninsured motorist coverage as well as personal injury protection (PIP) and are an at-fault state. They also require bodily injury and property damage liability coverages in the following minimums:

• $25,000 Bodily injury for a single-person injury
• $50,000 Bodily injury for a multi person injury
• $10,000 Property damage liability

Oregon Health Insurance

Oregon health insurance regulations do not require guaranteed issue individual policies, but they do require some portability of policies so that you can get insurance as long as you have had 6 months of prior coverage. There is a state high-risk pool and contributions to health savings accounts can be deducted from state income taxes.

Groups with at least 2 members are considered eligible for Oregon group health insurance policies. Individuals within the group can have their pre-existing conditions excluded for up to 6 months if they had a 63 day or longer break in coverage over the past 6 months. Group rates are protected by an adjustable community rating which allows insurers to rate each group by community measures rather than individual experience.

Oregon Home Insurance

The Oregon home insurance regulations do not require individual homeowners (either with loans on their property or without) to carry home insurance. So while regulations don’t require it and the states low occurrence of natural disasters might make you think it unnecessary, it is still important to get quotes and carry home insurance coverage. Why? Because theft, fire, flood, storm damage and other incidents can cause damage to your home no matter where you live-and you need an effective means for paying for the repairs they necessitate.

Oregon Life Insurance

The Oregon Life and Health Insurance Guaranty Association was formed by the Oregon life insurance regulators in 1975 in order to provide benefits to state consumer’s whose insurers had become insolvent before paying legitimate claims. The association offers up to $300,000 in death benefit protection and $100,000 in cash surrender value protection.

Oklahoma Auto Insurance

Oklahoma auto insurance regulations make this at-fault state a pretty easy one from a driver’s point of view. They do not require personal injury protection (PIP) or uninsured motorist coverage. They do require a minimum of $25,000 in bodily injury liability for a single-person injury and $50,000 for multiple person injuries.

Oklahoma Health Insurance

Oklahoma health insurance regulations do not require insurers to guarantee the issue of individual policies to those who have pre-existing conditions. They do have a high-risk pool for individuals who are otherwise uninsurable and they allow state income tax deductions for contributions to health savings accounts (HSAs).

Groups as small as 2 people can qualify for group health insurance coverage. Individuals within the group can have their pre-existing conditions excluded up to 12 months if they have experienced a 63 day or longer break in coverage over the past 6 months. Group rates are protected by rate bands.

Oklahoma Home Insurance

Oklahoma home insurance policyholders have the unlucky distinction of living in “Tornado Alley.” As such, all homeowners in Oklahoma need to make sure they have adequate coverage against tornadoes and other disasters. Home insurance can be expensive in this state and, although it isn’t required by Oklahoma home insurance regulators, should be strongly considered in order to protect your most valued asset.

Oklahoma Life Insurance

In 1981, Oklahoma life insurance regulators came together to form the Oklahoma Life and Health Insurance Guaranty Association to provide protection to the state’s consumers from insurer insolvency. The association provides up to $300,000 in death benefits and $100,000 in cash surrender values to qualified claimants.

Ohio Auto Insurance

Ohio auto insurance regulations have created an at-fault state with no requirement for personal injury protection (PIP) or uninsured motorist coverage. They do require at least $7,500 in property damage liability coverage and $12,500 for bodily injury liability in the event of a single-persona injury. In addition, they require $25,000 for multiple person injury coverage.

Ohio Health Insurance

Ohio health insurance regulation is a little different than other states. While they don’t generally require insurers to guarantee the issue of health insurance policies for individuals, there is a 30-day period each year during which non-HMO’s must guarantee issue policies. HMOs must guarantee the issue of policies all year until they reach state limits. The state does not have a high-risk pool but they do allow health savings account (HSA) contributions to be deducted from state income taxes.

Groups as small as 2 people can get group health insurance in Ohio, but individuals with pre-existing conditions can have their condition excluded from coverage for up to 12 months if they had a 63 day or longer break in insurance coverage over the past 6 months. Rate bands are in place to keep group insurance rates affordable.

Ohio Home Insurance

As the American Recovery and Reinvestment Act makes homeownership in Ohio more affordable, the importance of protecting your assets with Ohio home insurance becomes more and more clear. While the state does not require its homeowners to carry this coverage, proper protection against tornadoes, theft, fire and other events is necessary if you don’t want to put your family in financial jeopardy.

Ohio Life Insurance

In order to protect the state’s life insurance consumers against insurer insolvency, Ohio life insurance regulators creates the Ohio Life and Health Insurance Guaranty Association (OLHIGA). The association ensures that consumers still get their life insurance policy benefits even if the company that promised the benefits has gone bankrupt. They offer up to $300,000 in death benefit protection and $100,000 in cash surrender benefits.

North Dakota Auto Insurance

No-fault North Dakota auto insurance regulations require both personal injury protection (PIP) coverage and uninsured motorist coverage. In addition, they require at least $25,000 in property damage liability, $25,000 in bodily injury liability for single-persona accident injuries and $50,000 for multiple person injuries.

North Dakota Health Insurance

Individual health insurance policies are not required to be guaranteed issue by North Dakota health insurance regulations. They do allow state income tax deductions for health savings account (HSA) contributions and the state does have a high-risk pool for uninsurable individuals.

In order to get group health insurance issued in North Dakota, groups must have at least 2 members. Individuals within the group can have their pre-existing conditions excluded for up to 12 months if they had a 63 day or longer break in coverage over the past 6 months. Groups with 2-25 members have rates that are protected by rate bands.

North Dakota Home Insurance

North Dakota home insurance regulations might not require all homeowners in the state to have insurance, but that doesn’t mean that they are not concerned with the threat of floods and other natural disasters. In fact, in 2009 a panel of federal agency water experts was assembled to discuss the future of climate change and how it will affect flooding in the state. In certain parts of the state, they found increased chances for very high level floods-just a minor reminder of how important home insurance really is.

North Dakota Life Insurance

North Dakota life insurance regulators created the North Dakota Life and Health Insurance Guaranty Association in 1983 in order to provide a sort of back-up protection to consumers in case their life insurance companies became insolvent before paying out claims. The association offers up to $300,000 in death benefits and $100,000 in cash surrender value for qualifying consumers.

North Carolina Auto Insurance

North Carolina auto insurance does not require personal injury protection but do require uninsured motorist coverage. In addition, this at-fault state requires both bodily injury liability and property damage liability. The state requires a minimum of $25,000 in coverage for property damage, $30,000 for a single-person bodily injury and $60,000 for multiple person injuries.

North Carolina Health Insurance

North Carolina health insurance regulators have created a state-subsidized high-risk insurance pool for individuals unable to get coverage-which is a good thing since the state does not require insurers to issue guaranteed individual policies on applicants with pre-existing conditions. Some North Carolina health insurance customers will benefit from the state’s allowance of state income tax deductions for health saving account (HSA) contributions.

Small groups in the state of North Carolina can be as small as one person and insurers are required to issue a policy to these self-employed individuals. However, those with pre-existing conditions who have had a break in coverage for 63 or more days in the past 6 months will find that their condition can be excluded from coverage for up to 12 months. Rate bands are in place to keep group rates affordable.

North Carolina Home Insurance

North Carolina home insurance regulators are working to provide insurance credits for homeowners who storm-proof their homes. This would help reduce the premiums for hail and wind coverage. While North Carolina home insurance regulations do not require all homeowners to have insurance, the state’s exposure to both hurricanes and tornadoes makes home insurance an important purchase.

North Carolina Life Insurance

In 1974 North Carolina life insurance regulators created the North Carolina Life and Health Insurance Guaranty Association to provide benefits to life insurance policyholders whose insurer had become insolvent. They provide up to $300,000 in death benefits to affected consumers.

New York Auto Insurance

New York auto insurance regulations differ slightly from the rest of the country’s because this no-fault state requires drivers to have liability insurance, personal injury protection (PIP), uninsured motorist coverage and wrongful death coverage with minimum coverage of 50/100. The state requires a minimum of $25,000 coverage for single-injury bodily injury liability and $50,000 for multiple person injuries. They also require at least $10,000 for property damage liability.

New York Health Insurance

New York health insurance regulations require that insurers issue health insurance policies on a guaranteed basis even to individuals who have pre-existing conditions. As such, there is no need for a state-subsidized high-risk pool. If a policyholder should choose a high deductible health insurance policy, regulations do allow state income tax deductions for contributions to health savings accounts (HSAs).

Small groups in New York can consist of as few as 2 people for group health insurance. Individuals within the group who have pre-existing conditions that had a 63 day or longer gap in coverage over the past 6 months can have their condition excluded from the group plan for up to one year. Rates for group policies in New York are controlled by pure community rating.

New York Home Insurance

Home insurance is an important coverage for all residents of New York, even though New York home insurance regulations do not require it. Apartment dwellers in the state should consider renters insurance to protect their belongings. New Yorkers may experience both tornadoes and hurricanes and should make sure they have adequate coverage. While bed bugs are making a come-back in the more urban areas of the city, home insurance and renters insurance policies do not cover the damages associated with having-and getting rid of-these pests.

New York Life Insurance

In 1941, New York life insurance regulators became the first in America to create a guaranty association that would protect consumers in the event that their insurer became insolvent. This happened when they created the Life Insurance Company Guaranty Corporation of New York. The association provides up to $500,000 in death benefits and cash surrender values to policyholders left abandoned by their insurers.

New Mexico Auto Insurance

The at-fault state of New Mexico may not require uninsured motorist coverage or personal injury protection (PIP) but New Mexico auto insurance regulations do require drivers to carry both bodily injury liability and property damage liability coverage. The minimum coverage is $25,000 for a single-person injury, $50,000 for a multiple-person injury and $10,000 for property damage liability.

New Mexico Health Insurance

If you need health insurance and you are uninsurable, you will be happy to know that there is a high-risk pool in New Mexico. This is especially good because New Mexico health insurance regulations do not require insurers to issue policies in the individual market that cover pre-existing conditions. In addition, New Mexico allows the deduction of health savings account (HSA) contributions from state income taxes.

Small groups in New Mexico consist of 2-50 people, but if a one-person business needs insurance coverage for the owner of the business and at least one dependent, the state insurance alliance guarantees its issue. Pre-existing conditions can be excluded from group policies if any insured has had a 63 day or longer break in coverage over the past 6 months. The condition can only be excluded for up to 6 months. Group rates in the state are restricted by rate bands.

New Mexico Home Insurance

New Mexico home insurance regulations may not require coverage, but homeowners in the state should strongly consider having it anyway because of the risk of both hurricanes and wildfires. In addition, individual lenders may require it of those with outstanding mortgages and loans.

New Mexico Life Insurance

The New Mexico Life Insurance Guaranty Association (created in 1978) was formed to ensure that New Mexico life insurance policyholders had something to fall back on should their insurer become insolvent and leave their claims unpaid. The association covers up to $300,000 in death benefits and $100,000 in cash values.

New Jersey Auto Insurance

Not only do New Jersey auto insurance regulations require both bodily injury and property damage liability, but they also require uninsured motorist coverage, and personal injury protection (PIP). They are also a no-fault state.

Luckily for price-conscious consumers, New Jersey auto insurance regulations only require $15,000 in coverage for single-person injuries, $30,000 for multiple person injuries and $5,000 for property damage liability.

New Jersey Health Insurance

New Jersey health insurance regulations require insurers to cover pre-existing conditions in individual policies; because of this there is no state high-risk pool. In addition, the state does not allow health savings account (HSA) contributions to be deducted from state income tax.

Groups under New Jersey health insurance regulations can consist of as few as 2 people. In groups of 2-5, pre-existing conditions that have been uncovered for 90 or more days over the past 6 months can be excluded for up to 6 months. In groups of more than 5 people, no exclusions are allowed. Group rates in New Jersey are restricted be the adjusted community rating method.

New Jersey Home Insurance

New Jersey home insurance does not require all homeowners to have insurance, although individual lenders may. They are one of only three states to require new residential buildings to have sprinkler systems installed which can lower home insurance rates dramatically.

Believe it or not, New Jersey does experience some hurricane exposure. Because of this, residents should be careful to purchase a policy with hurricane deductibles and limits they can afford.

New Jersey Life Insurance

The New Jersey Life and Health Insurance Guaranty Association was created 1992 but back-dated its effective date to January of 1991. The association provides up to $500,000 in death benefit and $100,000 in cash surrender value to New Jersey life insurance policyholders whose insurers become insolvent and cannot pay claims.

New Hampshire Auto Insurance

Personal injury protection (PIP) is not required by New Hampshire auto insurance regulators and neither is bodily injury liability or property damage liability. This at-fault state does have one auto insurance requirement–they require residents to have uninsured motorist coverage.

New Hampshire Health Insurance

New Hampshire health insurance coverage is no laughing matter. While the state does not require its insurers to cover pre-existing conditions in the individual market, they do have a state high-risk pool to help those who are uninsurable. Since there is no state income tax there is no deduction (on the state level) for health savings account (HSA) contributions.

New Hampshire health insurance regulators consider small groups as consisting of 1-50 persons and, while there is no requirement that they issue coverage for pre-existing conditions within the group if there has been a 63 day or longer break in coverage over the past 3 months, they only let them exclude a pre-existing condition for up to 9 months. This means both their look back period (3 months) and their exclusion periods are less than the federal minimums.

New Hampshire Home Insurance

If you own a home in New Hampshire, you probably already know that New Hampshire home insurance regulations do not require you to have home insurance. But that doesn’t mean you are in the clear. If you have a lender, they may require you to have some sort of insurance on your dwelling to help reduce their risk. In addition, since New Hampshire is sometimes on the receiving end of hurricanes, it is a good idea to have some coverage.

New Hampshire Life Insurance

New Hampshire life insurance regulators formed its Life and Health Insurance Guaranty Association in 1971 in order to ensure there was some source of benefits for those residents whose insurance companies became insolvent before claims were paid. The association provides up to $300,000 in life insurance death benefits and $100,000 in life insurance net cash surrender benefits.

Nevada Auto Insurance

Nevada auto insurance regulations make this at-fault state require liability insurance but not uninsured motorist or personal injury protection (PIP). They do require a minimum of $15,000 in bodily injury liability for single-person injuries, $30,000 for multiple injuries and $10,000 for property damage liability.

Nevada Health Insurance

Nevada health insurance regulations do not force insurers to cover the pre-existing conditions of residents in their individual health insurance policies. In addition, they have no state high-risk pool and, since they do not have state income tax, residents have no need to deduct health savings account (HSA) contributions (although they can still be federally income tax deducted within IRS limits).

Small groups in Nevada consist of 2-50 people for Nevada health insurance group issuance purposes. Individual pre-existing conditions can be excluded for up to 12 months from the rate band protected group plan if the insured had a 63 day or longer break in coverage over the past 6 months.

Nevada Home Insurance

When you look at Nevada home insurance regulations you will find that there is no requirement for homeowners to carry insurance. Individual lenders may require some coverage depending on your agreement, so be sure to consult your loan documents. Historically, natural disasters are few and far between in Nevada so there may be no need for special endorsements in your policy, although individual situations may vary.

Nevada Life Insurance

The Nevada Life and Health Insurance Guaranty Association was created in 1973 in order to protect Nevada life insurance customers from insurer insolvency. In the event that an insurer cannot pay out a payable claim, policyholders are protected for up to $300,000 in Nevada life insurance death benefit and $100,000 in cash surrender values.

Nebraska Auto Insurance

Nebraska does not require personal injury protection (PIP) or uninsured motorist coverage for its drivers. The Nebraska auto insurance regulators do require bodily injury and property damage liability in this at-fault state. The minimum bodily injury liability for a single-person injury is $25,000 and $50,000 for a multiple person injury. They also require a minimum of $25,000 for property damage liability.

Nebraska Health Insurance

Nebraska health insurance regulations do not require insurers to guarantee the issuance of a policy for individuals who have pre-existing conditions. The state does have a high-risk pool to help give insurance to those individuals who are otherwise uninsurable. Additionally, the state allows for state income tax deductions of contributions to health savings accounts (HSAs).

Nebraska groups must consist of 2 or more people for purposes of group health insurance issuance. Pre-existing conditions in group members can be excluded for up to 12 months if the member had a 63 day or longer break in coverage over the past 6 months. Group health insurance rates in Nebraska are restricted by rate bands.

Nebraska Home Insurance

In 2010, the state of Nebraska experienced such damaging storms that the U.S. Federal Emergency Management Agency (FEMA) stepped in to give help to uninsured homeowners by giving them grants. Uninsured homeowners do not always get so lucky, so they should consider having appropriate coverage against tornadoes and other natural disasters. Nebraska home insurance regulations do not require any minimal insurance requirements so it is up to you to get your own coverage.

Nebraska Life Insurance

In 1975, Nebraska life insurance regulators created the Nebraska Life and Health Insurance Guaranty Association to help protect life insurance policyholders against insurer insolvency. They provide a life insurance death benefit up to $300,000 and up to $100,000 in cash values.

Montana Auto Insurance

Montana auto insurance regulations do not require drivers to carry personal injury protection (PIP) or uninsured motorist coverage. This at-fault state does require liability insurance. The minimum bodily injury coverage required is $25,000 for a single-person injury and $50,000 for a multiple person injury. They also require $10,000 for property damage liability.

Montana Health Insurance

Montana health insurance regulations do not require that the state’s health insurers issue individual policies on a guaranteed basis, so those with pre-existing conditions can be declined or excluded. For those unable to get individual or group insurance in the state, there is a high risk pool. If you can get a high deductible plan, the state does allow a state income tax deduction for those who contribute to a health savings account (HSA).

Small groups in Montana must consist of at least 2 people for purposes of group health insurance. A six month exclusion can be issued on an individual’s pre-existing condition if they were without insurance coverage for 63 or more days in the past 6 months. Group rates are protected by rate bands.

Montana Home Insurance

Montana home insurance regulators make no requirements for homeowners to have insurance; of course, individual lenders do since they are at risk as long as you have an outstanding loan on your home.

Whole Montana has no great risk for any particular natural disaster, 2010 brought FEMA executives and regulators together to discuss certifying the state’s important levees. Doing so will help Montana home insurance rates stay affordable.

Montana Life Insurance

The Montana Life and Health Insurance Guaranty Association was created in 1974. Its purpose is to protect Montana life insurance policyholders (and their beneficiaries) from missing out on a claim due to insurer insolvency. The association provides up to $300,000 in death benefits and $100,000 in cash value claims.

Missouri Auto Insurance

Missouri auto insurance regulations require drivers in the state to carry uninsured motorist coverage along with at least $25,000 in bodily injury liability for single-person injuries, $50,000 for multiple person injuries and $10,000 in property damage liability. The state does not require personal injury protection and is an at-fault state.

Missouri Health Insurance

Missouri health insurance regulators have created a high-risk insurance pool to help insure those who are uninsurable due to pre-existing conditions. This is helpful since the state does not require insurers to issue individual coverage for those individuals. They also allow the deduction of health savings account (HSA) contributions from state income taxes.

Missouri considers two or more individuals a “group” for purposes of health insurance. Pre-existing conditions can be excluded up to 12 months in a group for those individuals who have had a 63 day or longer break in coverage over the past 6 months. Group insurance rates in Missouri are restricted by rate bands.

Missouri Home Insurance

Missouri home insurance regulations place stiff limits on what events qualify a homeowner for insurance policy cancellation. Luckily, policies cannot be cancelled for place of residence, gender, race, creed, occupation or location. They can, however, be cancelled for nonpayment of premium, fraud, or changes that increase the risk to the property and, therefore, the insurer.

Missouri residents should be sure to buy appropriate tornado coverage within their policy since the state has a high tornado incident rate.

Missouri Life Insurance

Missouri life insurance regulators created the life and health branch of The Missouri Insurance Guaranty Associations to ensure that residents get their claims paid even if their insurer becomes insolvent. The life and health branch of the associations provides up to $300,000 in death benefits and $100,000 in cash values to Missouri life insurance policyholders with bankrupt insurers and payable claims.

Mississippi Auto Insurance

This no-fault state does not require either uninsured motorist coverage or personal injury protection (PIP). Mississippi auto insurance regulations do, however, require both bodily injury liability and property damage liability of all drivers. The minimum coverage requirements are $25,000 for a single-person injury, $50,000 for a multiple person injury and $25,000 for property damage.

Mississippi Health Insurance

Mississippi health insurance regulations do not require insurers to issue individual policies without pre-existing conditions exclusions. In order to provide some recourse to those denied coverage, the state does have a high-risk pool. They also allow state income tax deductions for contributions to health savings accounts (HSAs).

Group insurance policies can be issued to groups as small as one-person on a guaranteed issue basis if the self-employed individual is not eligible or any other coverage. Otherwise, pre-existing conditions can be excluded for those individuals in the group who have had a 63 day or longer break in coverage over the past 6 months. The exclusion can last as long as 12 months. Small group rates in Mississippi are restricted by rate bands.

Mississippi Home Insurance

Mississippi home insurance customers just got a new insurer competing for their business in the state. Luckily this will help to reduce insurance costs in a state that is particularly prone to both damaging tornadoes and hurricanes. So while Mississippi home insurance may not be required by your regulators, it is not an asset protection that should be overlooked.

Mississippi Life Insurance

In 1985, Mississippi life insurance regulators created the Mississippi Life and Health Insurance Guaranty Association to offer protection to those individuals whose insurers had become insolvent and unable to pay their claims. The association pays up to $300,000 for Mississippi life insurance death benefits and $100,000 for cash surrender values.

Minnesota Auto Insurance

Minnesota auto insurance regulations require residents of the state to have liability insurance. They require at least $30,000 bodily injury coverage in the event of a single-person injury, $60,000 for multiple person injuries and just $10,000 for property damage liability.

This no-fault state also requires personal injury protection (PIP) and uninsured motorist coverage making Minnesota auto insurance regulations fairly comprehensive.

Minnesota Health Insurance

Minnesota health insurance regulations do not require that health insurance companies provide automatic coverage for pre-existing conditions. They do, however, have a high-risk pool to provide insurance for those who would otherwise be uninsurable. In addition, they allow the contribution to your health savings account (HSA) to be deducted from your state income tax.

Group polices can have as few as two participants and Minnesota health insurance regulations do allow for pre-existing conditions to be excluded from group coverage for up to 12 months if there was a 63 day or longer break in coverage over the past 6 months. Group health insurance rates are protected from becoming cost prohibitive by the existence of rate bands.

Minnesota Home Insurance

Minnesota home insurance regulations do not require all home owning residents of the state to be covered by insurance. With that said, it is important to remember that your individual lender may require it if you still have an outstanding loan or mortgage on the property.

While regulations may not require it, Minnesota home insurance does protect homeowners against damages to their home-including those caused by the tornadoes the state is prone to suffer.

Minnesota Life Insurance

The Minnesota Life and Health Insurance Guaranty Association created in 1977 ensures that policyholders in the state will get some remuneration even if their Minnesota life insurance company becomes insolvent. But that does not mean you are guaranteed the full death benefit of your policy. The association covers life insurance death benefits up to a national high of $500,000 and net cash surrender up to $130,000.

Michigan Auto Insurance

Michigan auto insurance regulators require personal injury protection (PIP) but no uninsured motorist protection in this at-fault state. They also require a minimum of $10,000 in property damage liability, $40,000 for multiple bodily injury liability and $20,000 for single bodily injury liability.

Michigan Health Insurance

Michigan health insurance regulations do not force insurance companies to cover pre-existing conditions in individual policies, but they do offer an insurer of last resort (Blue Cross Blue Shield). That insurer must insure the state’s uninsurable. After 24 months, all HMO’s in the state must offer a guaranteed issue policy to a restricted number of applicants during a single 30-day period. The state also allows state income tax deductions for health savings account (HSA) contributions.

Small groups in Michigan can get group health insurance as long as they have at least 2 employees. Insurers are not permitted to exclude pre-existing insurance when Michigan health insurance is offered to a group and rates are protected by rate bands, although non-profit hospital and service plans can use adjustable community rates.

Michigan Home Insurance

Michigan home insurance rates are currently determined in part by the applicant’s credit score, although there is some legislation pending that may change this practice. Since the state does not require its homeowners to carry insurance on their largest investment, the removal of credit score as a rate factor may increase the number of homes that are covered. Michigan home insurance shoppers present and future should make sure they get adequate coverage for tornadoes.

Michigan Life Insurance

When Michigan life insurance companies go out of business, they no longer have the capacity to pay the claims and cash surrender requests of their policyholders. The Michigan Life and Health Insurance Guaranty Association (created in 1956) was formed for the purpose of stepping in to pay certain benefits to these displaced policyholders. The maximum amounts the association will pay are $300,000 for a death benefit and $100,000 for cash surrender values.

Massachusetts Auto Insurance

Massachusetts auto insurance regulations are more restrictive than some states, but their $5,000 minimum coverage for property damage liability is one of the lowest minimums required by any state in the country. This no-fault state requires personal injury protection (PIP) and uninsured motorist coverage. They also require bodily injury liability in the following amounts:

• At least $20,000 for single-person injuries
• At least $40,000 for multiple person injuries

Massachusetts Health Insurance

In 2006, a law was enacted that required every resident of Massachusetts to obtain a minimum level of Massachusetts health insurance. Their minimum creditable coverage standards are numerous and were designed to provide true protection for residents. To see the full list, you can visit their government website.

Because of this Massachusetts health insurance requirement, pre-existing conditions must be given coverage in all individual policies. The state allows employer group insurance coverage for groups as small as one person and allows a 6 month pre-existing conditions exclusions for individuals in the group who have had at least a 63 day break in coverage over the past 6 months. Health savings account (HSA) contributions are state tax deductible.

Massachusetts Home Insurance

The state of Massachusetts does not require its residents to have all insurance coverage-and that means they do not need to carry home insurance coverage unless their lender directs them to. Massachusetts can be at the receiving end of New England hurricanes, so it is important to make sure you choose adequate hurricane coverage for that risk.

Massachusetts Life Insurance

Created in 1986, the Massachusetts Life and Health Insurance Guaranty Association gives consumers up to $300,000 in death benefits and $100,000 in cash value benefits should their insurer become insolvent and unable to fulfill the contract.

Maryland Auto Insurance

Maryland auto insurance regulators require uninsured motorist coverage for all their drivers. In addition, they require personal injury protection (PIP) coverage for passengers, though it can be waived for the actual policyholder. This at-fault state also requires a minimum of $20,000 in bodily injury liability for single-person injuries and $40,000 for multiple person injuries as well as $15,000 for property damage liability.

Maryland Health Insurance

Maryland health insurance regulators do not require guaranteed coverage for pre-existing conditions in individual insurance policies. They do have a high-risk pool and they allow state income tax deductions to individuals who make a contribution to a health savings account (HSA).

Maryland health insurance in group form is allowed in employer groups as small as 2 people. Pre-existing condition exclusions are not permitted no matter how long a break in coverage the insured may have had prior to getting the group coverage. In addition, group rates are protected by adjusted community rating which permits insurers to base rates on things like gender and location instead of health.

Maryland Home Insurance

Maryland home insurance regulators took a big step in 2002 to ensure that all homeowners got fair treatment from Maryland home insurance companies. This step was to outlaw the use of a credit score in determining home insurance rates. While home insurance is not required for all residents (except by individual lenders) it is advised that homeowners choose insurance with affordable hurricane deductibles.

Maryland Life Insurance

Should a Maryland life insurance company go bankrupt before it pays out the claims of its customers, the Maryland Life and Health Insurance Guaranty Corporation will step in. Formed in 1970, it guarantees up to $300,000 in death benefits to displaced insureds and $100,000 in cash surrender values.

Maine Auto Insurance

Maine auto insurance regulators treat insurance coverage a little differently than other states. Not only do they require resident drivers to carry bodily injury liability, personal property liability and uninsured motorist coverage, but they also require that drivers have at least $1,000 in coverage for medical payments.

They also place high minimums on liability insurance:

• $50,000 bodily injury liability in the event of a single-person injury
• $100,000 bodily injury liability for multiple injury accidents
• $25,000 property damage liability

There is no requirement for personal injury protection (PIP) and they are not a no-fault state.

Maine Health Insurance

Maine is one of only 6 U.S. states that requires pre-existing coverage for all individual policyholders. Because Maine health insurance regulations prevent insurers from discriminating against policyholders who have already been diagnosed with a chronic or recurring illness or injury there is no high-risk pool. Residents can also take a state income tax deduction for health savings account (HSA) contributions they make.

Small groups in Maine can get group health insurance with as little as one employee. Pre-existing conditions can be excluded from group policies if the insured had a 90 day or longer break in coverage over the past 6 months. Conditions can only be excluded for up to 12 months. Small group rates are protected by the process of adjusted community rating. This means insurers cannot increase rates based on health but can based on gender, geographical location and more.

Maine Home Insurance

Maine home insurance regulations do not require residents to carry home insurance but individual lender probably do. Residents near the coast may want to carry additional flood insurance and all residents should be wary of the occasional New England hurricane.

Maine Life Insurance

The Maine Life & Health Insurance Guaranty Association was created in 1983 to protect Maine life insurance policyholders against the unlikely event of insurer insolvency. In the event that an insurer becomes insolvent and is unable to pay claims, the association will issue up to $300,000 in death benefit payments and $100,000 in cash value withdrawals.

Louisiana Auto Insurance

Louisiana auto insurance regulators have placed relatively few insurance requirements on residents of the state. Louisiana is not a no-fault state and does not require personal injury protection (PIP) or uninsured motorist coverage.

Louisiana auto insurance regulations do require that residents carry bodily injury liability and property damage liability insurance. The property damage liability minimum in the state is $25,000. Bodily injury liability in the event of a single-person injury is $15,000 and in a multiple person incident is $30,000.

Louisiana Health Insurance

Louisiana health insurance regulations do not require insurers to provide pre-existing condition coverage in the individual market. The state has created a high-risk pool that provides an insurance solution to uninsurable individuals. In addition, they allow state income tax deductions for contributions made to a health savings account (HSA).

Louisiana health insurance group policies are available for employer groups as small as 2 people. Pre-existing conditions can be excluded from group coverage if an employee has had a 63 day or longer break in their insurance overage during the past 6 months. In these instances, the condition can be excluded up to 12 months. Rate bands protect rates from becoming too high in groups with 3-35 employees.

Louisiana Home Insurance

Louisiana is a beautiful state rich in culture and history. It is a wonderful and enriching place to live and visit, but it is also in a prime location for hurricanes off the Gulf of Mexico and tornadoes. As such, even if you own your home in full, Louisiana home insurance is an important purchase to make.

Louisiana Life Insurance

Created in 1991, the Louisiana Life & Health Insurance Guaranty Association provides a payment of death benefit and cash values to insured’s whose Louisiana life insurance company has become insolvent or gone out of business. They offer payments of up to $100,000 for cash surrender value and $300,000 for death benefits.

Kentucky Auto Insurance

Kentucky auto insurance regulators have created a no-fault auto insurance state that does not require uninsured motorist coverage but does require personal injury protection (PIP). In addition, Kentucky auto insurance regulations also require both bodily injury liability insurance and property damage liability coverage.

The minimum amount of property damage liability that consumers can buy is $10,000. For bodily injury liability, the minimum for a single-persona accident is $25,000 and $50,000 for a multiple person accident.

Kentucky Health Insurance

Kentucky health insurance regulators have not placed any requirements on insurers in the state to cover pre-existing conditions in individual policies. They do have a high-risk pool for those who are uninsurable and they allow Health Savings Account (HSA) contributions to be deducted from state income tax liabilities.

Small groups in Kentucky can get group health insurance coverage for groups as small as 2-people. Pre-existing conditions can be excluded from group coverage for up to 12 months if the insured has had a 63 day or longer break in coverage over the past 6 months. Small group rates are insulated from large increases by the existence of rate bands.

Kentucky Home Insurance

Unless you have a loan against your home, Kentucky home insurance is not required. And if you do have a loan, the coverage is required by your lender so make sure you read your documents to determine what coverage you must have. All Kentucky homeowners should be especially concerned with their tornado coverage since this is the most common natural disaster to cause property damage to residents.

Kentucky Life Insurance

Kentucky life insurance policyholders are protected from the sudden bankruptcy of their insurers by the Kentucky Life and Health Insurance Guaranty Association created in 1978. The association protects up to $100,000 in cash surrender value and $300,000 in death benefits if an insurer should be unable to pay claims.

Kansas Auto Insurance

Kansas auto insurance is an almost full coverage event with required coverages including:

• Bodily injury liability of at least $25,000 for a single-person injury and $50,000 for a multiple person injury
• Property damage liability of at least $10,000
• Uninsured motorist coverage
• Personal injury protection (PIP)

In addition to these stiff Kansas auto insurance regulations, Kansas is also a no-fault state.

Kansas Health Insurance

Unfortunately, Kansas health insurance regulations do not ensure guaranteed individual insurance coverage for those with pre-existing conditions. But they do offer a high-risk pool for individuals who can’t get insurance elsewhere. They also allow residents to deduct their health savings account (HSA) contributions from their state income taxes.

Small groups in Kansas can get rate band protected group health insurance coverage as long as there are at least two employees. In group policies, pre-existing conditions can only be excluded for up to three months if the individual had a 63 day or longer break in coverage during the preceding 3 months.

Kansas Home Insurance

Kansas home insurance is not required for homeowners who have paid their homes off and own them without debt. However, they should remember that there really is no place that is like home and carry some insurance. Tornado coverage in a Kansas home insurance policy should be especially valued.

Kansas Life Insurance

Kansas life insurance customers will be happy to note that the Kansas Life & Health Insurance Guaranty Association (formed in 1972) is there to protect them if their life insurance company is unable to pay a claim due to insolvency. The association offers up to $300,000 for death benefits and $100,000 in cash values for unpaid claims.

Iowa Auto Insurance

Iowa auto insurance regulations are relatively easy to understand. The state is not a no-fault state and they require no uninsured motorist coverage or personal injury protection (PIP). Iowa auto insurance regulations do, however, require both property damage liability and bodily injury liability coverage. The minimum about of bodily injury liability for a single-person liability is $20,000 and $40,000 is the minimum for a multiple person injury. $15,000 is the minimum amount you can carry for property damage.

Iowa Health Insurance

Like many states, Iowa health insurance regulations do not require insurers to guarantee individual insurance coverage for pre-existing conditions. They do have a high-risk pool that is subsidized by the state for high-risk individuals who have been denied insurance coverage. Iowa also allows health savings account (HSA) contributions to be deducted from state taxes.

Small groups in Iowa can get group insurance coverage as long as they have at least 2 employees. Pre-existing conditions can be excluded for up to 12 months if members have had a 63 day or longer break in coverage over the past 6 months. Small group rates are protected from cost-prohibitive rate increases by the adoption of rate bands.

Iowa Home Insurance

Unless your home has a mortgage or loan attached to it, Iowa home insurance is not required. But that does not mean that Iowa home insurance regulators aren’t working for their citizens. In fact, Iowa recently passed a bill that requires insurance companies to give Iowa homeowners at least 30 days notice before renewing or cancelling their home insurance policy.

Iowa home insurance shoppers should be especially careful about making sure that their tornado coverage is adequate. The state has been hit with 21 major tornado events since 1953.

Iowa Life Insurance

Iowa life insurance customers are protected against the unexpected insolvency and inability to pay claims of their insurance companies by the Iowa Life and Health Insurance Guaranty Association. The association was created in 1987 and has been a welcome addition for the citizens. It offers protection of up to $300,000 for life insurance death benefits and $100,000 in cash surrender values.

Indiana Auto Insurance

Indiana auto insurance regulations have created an at-fault state with no required uninsured motorist coverage or personal injury protection (PIP). The state does require bodily injury liability and property damage liability. The minimum amounts of this coverage that are permitted are:

• $25,000 bodily injury in the event of a single-person injury
• $50,000 bodily injury in the event of a multiple person injury
• $10,000 property damage liability

Indiana Health Insurance

Indiana health insurance regulations permit group health insurance to be issued for groups as small as two people. Members of the group can have their pre-existing conditions excluded for up to 9 months if they had at least a 63 day break in coverage during the preceding 6 months. Group rates are protected from becoming cost-prohibitive by rate bands.

Individual Indiana health insurance can be issued with pre-existing condition exclusions and, to help those who are uninsurable, the state does have a high risk pool. Unfortunately, the state does not allow income tax deductions for contributions made to a health savings account (HSA).

Indiana Home Insurance

When looking for Indiana home insurance, consumers will find that the state does not require anyone to have the coverage. Individual lenders, however, probably do so be sure to check your loan documents and find out what coverage you need to have to stay compliant. Homeowners in the state should be careful to buy appropriate coverage against tornadoes.

Indiana Life Insurance

The Indiana Life and Health Insurance Guaranty Association was formed in 1978 with the intention of paying out claims to Indiana life insurance policyholders whose insurance companies had gone out of business. The association protects up to $300,000 in death benefits and $100,000 in cash values.

Illinois Auto Insurance

The state of Illinois auto insurance regulators require both liability insurance coverage and uninsured motorist coverage. They require a minimum of $20,000 for single injury accidents, $40,000 for multiple injury accidents and $15,000 for property damage liability. They are not a no-fault state.

Illinois Health Insurance

In the state of Illinois, there is no guaranteed issue of individual policies regardless of pre-existing conditions. However, there is a high risk pool to help those who have been declined coverage. The state of Illinois health insurance regulations do allow for the deduction of health savings account (HSA) contributions from state income taxes, so that is another option for those with pre-existing conditions.

Small business owners in Illinois will be happy to find that groups can be formed with as few as 2 people and that their rates are protected by rating bands. Pre-existing conditions can be excluded when a group member has had a 63 day or longer break in coverage over the past 6 months but the exclusion cannot exceed 12 months.

Illinois Home Insurance

Illinois home insurance shoppers are not required to have home insurance by the state but may be required by their lenders. Illinois residents are at risk for natural disasters like earthquakes and tornadoes so they should make sure that they have adequate coverage for these incidents.

Illinois Life Insurance

In 1980, Illinois created their Life and Health Insurance Guaranty Association to protect consumers against insurer insolvency. The association protects up to $300,000 in death benefits and up to $100,000 in net cash surrender values.

Idaho Auto Insurance

The state of Idaho is not a no-fault state and the Idaho auto insurance regulators do not require their drivers to have uninsured motorist coverage or personal injury protection (PIP). They do, however, require liability coverage. Their minimum bodily injury liability coverage is $25,000 for a single-person injury and $50,000 for a multiple person injury. Their property damage liability minimum is $15,000.

Idaho Health Insurance

Idaho handles its health insurance a little differently than other states. While they do not make insurers ignore all pre-existing conditions in issuing individual polices, they do reinsure individual high risk policies allowing some recourse for those with pre-existing conditions. The state also allows individuals to deduct health savings account (HSA) contributions from their state income taxes.

Small businesses in Idaho can get group insurance coverage for groups as small as 2 people and their rates are protected by rate bands. Pre-existing conditions can be excluded from group health insurance policies for up to 12 months if the individual had a break in coverage of 63 days or more during the previous 6 months.

Idaho Home Insurance

Idaho is a relatively calm state when it comes to natural disasters. Idaho home insurance shoppers will be happy to know that the last hundred years has brought Idaho a total of two earthquakes, two wildfires, and two memorable storms. While this data combined with the knowledge that home insurance is not required in the state of Idaho (except by individual lenders) may make some homeowners opt out of this insurance, it is always a good idea to have coverage.

Idaho Life Insurance

Idaho life insurance legislation created the Idaho Life and Health Insurance Guaranty Association in 1977. The association guarantees a payout to insured consumers in the event that their insurer becomes insolvent by the time they need a claim paid. The association guarantees up to $300,000 in death benefits and $100,000 in cash surrender values.

Hawaii Auto Insurance

Hawaii auto insurance regulators do not require uninsured motorist coverage for drivers in the state but they do require personal injury protection (PIP) and liability insurance. They require a minimum of $20,000 liability insurance for a single-person injury, $40,000 for a multiple person injury and just $10,000 for property liability. Hawaii is a no-fault state.

Hawaii Health Insurance

Hawaii health insurance regulations make no requirement that insurers cover pre-existing insurance in the individual insurance market and the state does not have a high risk pool. They do allow health savings account (HSA) deductions for state income tax, so a high deductible policy with an HSA is a good idea for some residents.

In Hawaii, group insurance can be issued on groups as small as 1 person and insurance coverage is guaranteed even if there was a break in coverage before issue. However, there are no group rating restrictions to protect rates.

Hawaii Home Insurance

Hawaii does not require home insurance although individual lenders may if you have a mortgage. Hawaii is home to many natural disasters including tornadoes, hurricanes and earthquakes. Hawaii is also home to many active volcanoes. Be sure your Hawaii home insurance policy has adequate coverage and affordable deductibles for these risks.

Hawaii Life Insurance

Hawaii life insurance legislature created the Hawaii Life and Disability Insurance Guaranty Association in order to protect Hawaiian consumers against life insurance and disability insurance company insolvency. The association guarantees up to $300,000 in life insurance benefits and $100,000 cash value protection for every insured individual.

Georgia Auto Insurance

At $25,000 Georgia auto insurance regulators have one of the highest property damage liability minimums in the country. For a single person accident, Georgia requires drivers have a minimum of $25,000 bodily injury liability coverage and $50,000 for a multi-person injury. This at-fault state does not require uninsured motorist or personal injury protection (PIP) coverage.

Georgia Health Insurance

The state of Georgia does not have a high risk pool and does not require insurers to guarantee the issue of individual insurance policies to people with pre-existing conditions. If you decide to purchase a high deductible plan with a health savings account (HSA) the state does allow you to deduct your HSA contributions from your state income taxes.

Small businesses in Georgia can get guaranteed issue policies without pre-existing conditions exclusions for groups as small as 2-people as long as there has been no break in coverage of 63 days or longer over the past 6 months. For those who have had a long break in coverage, your pre-existing exclusions cannot last longer than 12 months.

Georgia Home Insurance

Georgia homeowner insurance regulations do not require residents to have home insurance coverage. If you have an outstanding loan on your property, your lender may require this. Georgia residents should be careful to make sure they have adequate coverage for hurricanes, wildfires and tornadoes. There is minimal risk in the state of earthquakes.

Georgia Life Insurance

Georgia life insurance policies are protected against insurer insolvency by the Georgia Life and Health Insurance Guaranty Association which began in 1981. The association protects life insurance death benefits up to $300,000 and life insurance cash surrender values up to $100,000.

Florida Auto Insurance

Florida auto insurance regulators have made Florida a no-fault state. They require drivers to have both personal injury protection (PIP) and liability coverage but do not require uninsured motorist coverage. For single-injury accidents, Florida drivers must have at least $10,000 in liability coverage. $20,000 is required for multiple injury accidents. Property damage liability has a minimum of $10,000.

Florida Health Insurance

The state of Florida does not require insurers to cover pre-existing conditions in individual insurance policies. The state has a high risk pool but it has been closed to new entrants since the early 1990’s. The state of Florida has no state income tax so there is no need for a health savings plan (HSA) deduction.

In Florida, a small group can consist of just one person. Group policies must be guaranteed issue if there has been no break in coverage exceeding 63 days in the past 6 months and the maximum exclusion is 12 months. Small group rates are protected by rate bands.

Florida Home Insurance

The state of Florida does not require homeowners coverage for residents, although individual lending agreements may. Florida residents are susceptible to sinkholes, tornadoes, wildfires and hurricanes and should make sure their home insurance policies provide adequate coverage.

Florida Life Insurance

To protect state residents against Florida life insurance company insolvency, the state created the Florida Life and Health Insurance Guaranty Association in 1979. The association guarantees up to $300,000 in death benefit and $100,000 in cash surrender value for consumers whose life insurance companies become insolvent.

District of Columbia Auto Insurance

District of Columbia auto insurance regulations do not require personal injury protection and the district not a no-fault state, but they do require uninsured motorist coverage. They also require liability coverage at a minimum of $25,000 for single-person injuries, $50,000 for multiple person injuries and $10,000 for property damage.

District of Columbia Health Insurance

District of Columbia health insurance regulations make no rules that insurers must issue policies and ignore pre-existing conditions. Health savings account (HSA) contributions are not state tax deductible and there is no high risk pool.

In DC, small group health insurance can be issued to groups as small as two people but there are no rate restrictions or protections. Policies must have a guaranteed issue for employees if there has been no break in their coverage exceeding 63 days in the past 6 months. The maximum exclusion for pre-existing conditions is 12 months.

District of Columbia Home Insurance

District of Columbia home insurance is necessary for people who have outstanding loans on their homes. While it is suggested for every homeowner regardless of debt, it is not legally required. Other than the occasional tornado, there are few if any frequently occurring natural disasters.

District of Columbia Life Insurance

In 1992 the District of Columbia created the District of Columbia Life and Health Insurance Guaranty Association to help consumers still get benefits from their life insurance policies even after insurer insolvency. The group guarantees a benefit of up to $300,000 for life insurance death benefits and up to $100,000 in cash values.

Delaware Auto Insurance

The state of Delaware is not a no-fault state and does not require its residents to carry uninsured motorist coverage. They do, however, require liability insurance, although in very low amounts. Delaware auto insurance regulators require that drivers carry a minimum of $15,000 for single-person injuries and $30,000 for multi-person injuries. They need only carry a minimum of $10,000 for property damage liability.

Delaware Health Insurance

When it comes to Delaware health insurance, the state does not require that insurance companies issue a policy even if the proposed insured has a pre-existing condition and they do not have a state high risk pool to assist those that do. Health Savings Account (HSA) contributions are exempt from state taxes, so a high deductible plan paired with an HSA could be a good solution.

Small groups can get guaranteed issue life insurance in group form-even if the insured has experienced a break in coverage. Groups can be as small as one person and rates are protected by rate bands. The policies are guaranteed issue as long as the individual insureds have had no break in coverage exceeding 63 days during the past 6 months. The maximum allowable exclusion period is 12 months.

Delaware Home Insurance

Delaware home insurance is a pretty simple affair. While your lender might require that you carry insurance, the state itself does not. Delaware is not the location of many natural disasters, although it does occasionally feel the effects of hurricanes on the Atlantic.

Delaware Life Insurance

The Delaware Life and Health Insurance Guaranty Association was created in 1982 to protect Delaware life insurance consumers from the unlikely event of an insurer insolvency. They protect life insurance policy death benefits up to $300,000 and cash values up to $100,000.

Connecticut Auto Insurance

Connecticut auto insurance shoppers must shop for a minimum of $20,000 in single-person bodily injury liability and $40,000 for multi-person incidents. The minimum property damage liability amount for Connecticut is $10,000.

Connecticut auto insurance shoppers should also note that, while personal injury protection is not required in Connecticut, uninsured motorist coverage is. The state is not a no-fault state.

Connecticut Health Insurance

For those Connecticut health insurance shoppers with pre-existing conditions, there is no guarantee in that you will be issued a policy. However, the state does have a high-risk pool that is open for all applicants-not just those who have a medical eligibility. If you choose a high deductible plan with a health savings account (HSA) your contributions to the health savings account are state income tax deductible.

When it comes to group insurance, Connecticut health insurance shoppers may be pleasantly surprised to find that insurers must guarantee the issue of a group policy even to those groups as small as one person. If a person with a pre-existing condition is in the plan, and that person had a break in coverage of 120 days or more in the past 6 months, they can have their condition excluded from coverage for up to 12 months.

Connecticut Home Insurance

There are no special laws or rules that affect Connecticut home insurance shoppers. The state does not experience many natural disasters, but residents should consider hurricane coverage.

Connecticut Life Insurance

The Connecticut Life and Health Insurance Guaranty Association was formed in 1972 to help protect Connecticut life insurance shoppers from the possibility that they may buy a life insurance policy from a company that eventually becomes insolvent.

Connecticut’s association offers one of the more generous assurances of all the states:

In the event your insurer should become insolvent your death benefit is protected up to $500,000 and your cash surrender is protected up to $500,000.

Colorado Auto Insurance

Colorado insurance is relatively straightforward. The state does not require personal injury protection or uninsured motorist coverage and is not a no-fault state. They do have liability requirements which are:

• $25,000 maximum for a single-person injury
• $50,000 maximum for a multiple person injury
• $15,000 maximum for property damage liability

Colorado Health Insurance

If you are shopping for Colorado health insurance and you have a pre-existing condition, take note: Colorado does not require its insurers to issue coverage to you if you have a pre-existing condition. They do, however, have a high-risk pool that can offer insurance solutions if you are denied coverage, don’t have access to group coverage or are quoted unaffordable premiums. If, in your search for Colorado health insurance, you opt for a high deductible health insurance policy and a health savings account (HSA) you can deduct your HSA contributions from your state income taxes.

Colorado is one of the few states that allows self-employed individuals to get single-person group coverage. That means you could get group health insurance for just one individual. Group rates are limited to an adjusted community rating structure and pre-existing conditions can be excluded for up to 6 months if the individual had a 90 day or greater break in coverage over the past 6 months.

Colorado Home Insurance

While lenders may require Colorado home insurance, the state does not so if you own your home in full, the choice to buy insurance is completely up to you. Residents of Colorado should be especially considerate of obtaining coverage for certain natural disasters that often affect the state. These include hurricanes, tornadoes and wildfires.

Colorado Life Insurance

Colorado life insurance customers have limited protection against insurer insolvencies under the Life and Health Insurance Protection Association in Colorado. If a Colorado policyholder is insured with a company that goes bankrupt after July 1, 1991 they may be protected up to $300,000 for death benefits and $100,000 in cash values.

California Auto Insurance

California auto insurance works a little bit differently than other states. In California, drivers must carry at least $15,000 bodily injury liability for a single-person accident and $30,000 for a multi-person injury accident. For property damage liability, California auto insurance customers must have at least $5,000 in coverage. But there is also a low-cost assigned risk plan for certain California drivers that allows for lower limits ($10,000 single-person, $20,000 multi-person and $3,000 property damage).

California is not a no-fault state and they do not require uninsured motorist coverage or personal injury protection.

California Health Insurance

California health insurance is relatively easy to understand. There is no requirement for insurers to offer coverage to those individuals who have pre-existing conditions and there is a high-risk pool for those who have been denied care, have no access to group coverage or who have been quoted excessive, unaffordable rates due to the high risk of claims that they present. The state of California does not offer a state income tax deduction for contributions made to health savings accounts (HSAs).

Groups of 2 or more can get group California health insurance with rates restricted by rate bands. In California, some pre-existing conditions cannot be excluded from group coverage unless a break in coverage over the past 6 months has exceeded 180 days in some circumstances, and the standard 63 days in other circumstances. You should visit the California Department of Insurance website for details.

Pre-existing conditions that are excluded from coverage under a group plan can only be excluded for a maximum of 6 months.

California Home Insurance

When searching for California home insurance, California residents have the freedom to search many different insurers in order to find the policies and premiums they are looking for. California home insurance coverage is particularly important for earthquakes, wildfires and hurricanes since the state has a high rate of incidence for these natural disasters.

California Life Insurance

In order to protect California life insurance customers from the possibility that their insurer could become insolvent and be unable to pay claims on their life insurance policies, The California Life & Health Insurance Guarantee Association was created in 1991. This association can provide payment for 80% of a life insurance customer’s death benefit up to the maximum of $250,000. It also protects 80% of the cash surrender values, up to $100,000.

Arkansas Auto Insurance

Arkansas auto insurance requirements are slightly different than many other states. They are one of the few states that require drivers to carry personal injury protection (PIP). In addition, they require bodily injury liability of at least $25,000 for single-person injuries and $50,000 for accidents with multi-person injuries. Their property damage liability minimum is $25,000.

Arkansas auto insurance shoppers will also be interested to note that Arkansas is not a no-fault state and they do not require uninsured motorist coverage.

Arkansas Health Insurance

Arkansas health insurance is not guaranteed to be issued to all residents. Instead, insurers have the ability to decline or waiver pre-existing conditions. In order to help consumers who have been declined or can’t afford the coverage they are offered, Arkansas has instituted a high-risk pool. If an Arkansas health insurance customer would like a high deductible plan with a health savings account (HSA), they might be happy to find out that HSA contributions are deductible from state income taxes.

Arkansas health insurance regulations allow for groups as small as 2 people to be issued group health insurance coverage. The rates of groups with 25 or fewer people in Arkansas are protected by state rate bands. Pre-existing conditions can be exempted from group policies for up to 12 months if the newly insured was uninsured for 63 or more days during the prior 6 months.

Arkansas Home Insurance

When it comes to Arkansas home insurance, the state has done a great job in regulating its insurers and making sure information is disclosed to the public. There are no requirements that homeowners have insurance (except by individual lenders), but it is suggested that those who buy Arkansas home insurance pay special attention to the coverage they receive for earthquakes, hurricanes and tornadoes since those are the most common natural disasters to befall Arkansas residents.

Arkansas Life Insurance

The state developed its Arkansas Life and Health Insurance Guaranty Association in 1989 to answer the concerns of consumers that their insurance company might become insolvent and be unable to pay claims. While the state guaranty association does not guaranty the total policy or death benefit value be paid to Aransas life insurance customers with an insolvent insurer, they do guaranty a maximum payout of $300,000 for a death benefit and for cash surrender value in the event that an insured or beneficiary finds their life insurance company insolvent.

Arizona Auto Insurance

Arizona auto insurance regulators have named some of the least expensive auto insurance minimums in the entire country. It is unknown if these numbers are low because the cost of accidents is lower in Arizona or because these numbers hail from old laws that are not hopelessly outdated. Arizona auto insurance requirements state that drivers need to have $15,000 in bodily injury protection for single-person injuries and $30,000 for multiple person injuries. The property damage liability minimum is just $10,000.

Like most states, Arizona auto insurance regulators do not require drivers to carry uninsured motorist coverage. The state is not a no-fault state and does not require drivers to carry personal injury protection (PIP).

Arizona Health Insurance

Arizona health insurance offers individuals no protection from being denied due to pre-existing conditions or having a waiver placed on claims that stem from those same conditions. Unfortunately, the state also does not have an open high-risk pool either, so people with pre-existing conditions must look for group coverage. For those Arizona health insurance customers who opt for a high deductible health insurance policy with a health savings account (HSA), you can deduct your HSA contributions from your state income taxes.

If you are an Arizona health insurance customer with a small business, then as long as you have 2 people to cover with group insurance, you can take out a group policy. Your rates are protected with rate bands and pre-existing conditions can be excluded for up to 12 months if the employee in question had a break in coverage of 63 days or more in the past 6 months.

Arizona Home Insurance

Arizona home insurance is a great option for all Arizona homeowners, though it is not required by the state. When you buy your Arizona home insurance, be sure to pay special attention to hurricane and fire coverage, since those are the most common natural disasters.

Arizona Life Insurance

The state of Arizona has a guaranty association that is designed to help Arizona life insurance customers get their benefits even if their insurer becomes insolvent. There is no information online about this association, but if you have questions you can call 802-364-3863.

Alaska Auto Insurance

When it comes to auto insurance, Alaska-like many states-has certain minimum coverages that must be carries. Alaska auto insurance minimums are quite a bit higher than many other states. Drivers must have liability insurance with a bodily injury benefit of at least $50,000 to cover a single person injury and $100,000 in the event there are multiple people with injuries. Alaska auto insurance laws also require a benefit of $25,000 for property damage.

Alaska is not a no-fault state. They also do not require uninsured motorist coverage or personal injury protection (PIP).

Alaska Health Insurance

Alaskans have access to many of the great health insurance companies and plans available in all the rest of the United States. Alaska health insurance offers no particular additional benefits or drawbacks. When looking for individual coverage, Alaska residents will find that the insurers in their state can exclude or waive their pre-existing conditions. The state does have a high-risk pool that certain individuals without access to group insurance or affordable individual Alaska health insurance can become a member of. Individuals who opt for a high deductible plan with a health savings account (HSA) do not need to worry about deductibility of HSA contributions in state taxes since there are no state taxes in Alaska.

In order for the self-employed to get group insurance in Alaska, they must have a group of at least 2 people to cover. If they get the insurance policy, their rate will be restricted by a rate band and, if any insured has had a 90 day or longer break in coverage over the past 6 months, they could be subject to a pre-existing condition exclusion of 12 months or more.

Alaska Home Insurance

There are no Alaska home insurance laws or regulations that should be of any particular concern to Alaska homeowners. Homeowners in Alaska should pay special attention to their earthquake, fire and hurricane coverage since these are the most common natural disasters in the state.

Alaska Life Insurance

The Alaska Life & Health Insurance Guaranty Association was developed in 1990 to help protect consumers against insolvent insurers that could not pay claims. In the event your Alaska life insurance company goes bankrupt and you have a claim outstanding, you can expect the state’s guaranty association to come through with a maximum of $300,000 in life insurance death benefit and $100,000 for cash surrender value.

Alabama Auto Insurance

Alabama insurance regulations are pretty easy on drivers. There is no requirement that drivers carry personal injury protection (PIP) coverage or uninsured motorist coverage. They must have liability insurance with a bodily injury benefit of at least $25,000 for a single person injury and $50,000 for collective injuries. They must also have a benefit of $25,000 for property damage. Alabama is not a no-fault state, so your Alabama auto insurance company will take the time to determine which driver is at fault before deciding who should foot the bill.

Alabama Health Insurance

Alabama health insurance regulators place no special requirement on residents to get health insurance coverage. Pre-existing conditions can be excluded by insurers issuing individual Alabama health insurance policies and there is no open high-risk pool for those denied individual insurance coverage. While some Alabama health insurance consumers may decide to buy high deductible plans with health savings accounts, they will find that Alabama does not allow them to deduct those contributions from their state income taxes.

If you are looking for group insurance in Alabama, the group must have a minimum of 2 people to cover. Alabama health insurance rates for groups are restricted to rate bands and, if there was a 63 day or longer break in coverage within the 6 months prior to taking out the plan, pre-existing conditions can be waived for up to 12 months.

Alabama Home Insurance

Alabama home insurance is an optional coverage as far as the state insurance department is concerned. Alabama makes no requirements that its citizens have home insurance when their homes are paid in full. Naturally, individual lenders require some insurance if there is a mortgage or loan on the home.

Alabama home insurance is useful during hurricane season, when Alabama residents are often battered by storms in the Gulf of Mexico. Because of the high rates of incident in Alabama, many counties have seen their home insurance rates skyrocket. A new bill created by the Homeowners’ Hurricane Insurance Initiative is working to ensure that rate increases are not unfairly targeted to certain counties in Alabama.

Alabama Life Insurance

The Alabama Life & Disability Insurance Guaranty Association (ALDIGA) was created in 1983 to help protect consumers and provide payment in the event that their life or disability insurance company became insolvent and could not pay claims. In the event of failure, ALDIGA will pay up to $300,000 for a life insurance death benefit and $100,000 in cash surrender benefits. This makes Alabama life insurance that much more valuable.

1. Call your insurance company before you get treatment: If you aren’t sure that a certain procedure will be covered or that a specific doctor or health center is under your plan, call the health insurance company before you get treatment. Make sure you write down the date and time of your call as well as the name and employee number of the person you speak to.
2. Read your policy: Sure it’s boring, but if you take the time to read your health insurance policy, you’ll find out a lot about what is and isn’t covered and the procedures you must follow to ensure proper claim payment.
3. Find out when precertification is necessary. Some health insurance companies require precertification before you can get certain procedures done. During precertification, you supply your insurer with information about the procedure you need and a doctor’s note or records that explain why the procedure is necessary. Call your health insurance company to find out when a precertification needs to be done with your policy and make sure that you write down the procedure.
4. Pay your policy on time: One of the biggest mistakes people make is to allow their policy to lapse by paying it late. You must always pay your premiums on time in order to ensure an active, benefit paying policy. Pay early as often as you can as a safe guard.

Remember, ask first and you should have no regrets later. Take the time to familiarize yourself with your policy and you may be able to avoid bills outside your copay and deductible forever.

Other Structures: Sheds and Detached Garages

An attached garage would be considered part of your dwelling because it is attached to your home and shares a foundation. But if you have a detached garage then it is unlikely that the foundation from your home is the same foundation used for the garage, which means your detached garage is an other structure. Likewise, any sheds, pool houses or other buildings on your property are other structures.

Other… Other Structures

Another things that can be considered under the other structures portion of your policy is your fence. This structure has no foundation but is not considered property by your policy but instead, is another structure. Likewise, a tree house or children’s play house would be considered an other structure.

Exceptions

If you have a detached garage or other out-building on your property and you run a business out of the building then it may be exempted by your policy. Check with your insurer, but you may need an occupational license, property rezoning and a special commercial insurance policy to cover other structures that you do business in. It is especially important to find out whether additional insurance is necessary if you have equipment in your office space, as this too might not be covered under your regular homeowners insurance policy.