Essential Facts About Home Insurance

Understanding the basic facts about home insurance is crucial to protecting your investment whether you are a first-time home buyer or an e...

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22/06/2017

Essential Facts About Home Insurance

Understanding the basic facts about home insurance is crucial to protecting your investment whether you are a first-time home buyer or an established home owner. Outlined below are some of the things you need to know and avail yourself with.

18/06/2017

Facts About Auto Insurance

Understanding the  simple mechanics of auto insurance can be a herculean task, let alone understanding the puzzles surrounding it. Puzzles like the guidelines, policies and procedures of the many insurance carriers of today. Outlined below are some facts you need to know about auto insurance so you can have adequate arsenal at your disposal when looking forward to purchasing an auto insurance.

16/06/2017

How to make money with your blogspot blog for beginners

This blog post will show you how to make money through blogspot blog.

Making money online through simply setting up a blog is now very common and you too can make money just by following simple blogging ideas.

Before we proceed, note that the amount of time and resources you commit to blogging will determine how much money you make out of it. If you don't have your blogspot blog yet, click here to create a free blogspot blog.

Lets take a visit to Someday Island: Imagine that someday, you become so successful with your  blog such that you resign from your current job to become your own boss.

The key to reaching your "Someday Island"  is to follow a trail of tips from a blogger who's been there.

When I thought of writing this article, my plan was to list out the various ways to make money with a blog and that's all.

Fortunately, this post will dive deeply into the entire process involved in monetizing your blog.

Hints: Blogspot beginner bloggers should consider checking out How to Start a Blog with Blogger.

How to make money with your blogspot blog for beginners



Lets get started with how to monetize BLOGSPOT BLOG and save your hosting and domain name renewal.
In case you are in doubt, this blog got its domain on 8th December,  2017 but before then, it was a free .blogpot website (efukikata.blogspot.com).

Some SEO professionals advised me to buy a domain name but how do I buy a domain name for a business model whose return of investment was not guaranteed? So I insisted on using dot blogspot until I started receiving monthly cheques from Google Adsense.

The recent blogspot blog (w3fx.blogspot.com) I started some months ago is currently doing quite well with Google Adsense.

In this post, I'll show you how to monetize your blogspot blog so that you could start earning money just like I'm currently making.
The fun part of BLOGGING is that you can work anywhere and at anytime!
I love keeping my topics straight forward, so let see the various options available to start making money on a free platform.

Run Ads on Your Blog


Now, don’t freak out here! Running ads is the most common way bloggers earn income from their blogs. Bloggers who runs ads get paid each time someone clicks, view, mouse-hover their ads. So don’t worry, ads on your blog are pretty simple to set up.

Recommended: 35 ways to make your blog popular

How To Set Up Ads on Your Blog?


Having ads on your blog doesn’t mean you have to spend time looking for someone, business or company to advertise on your blog. You can pick one of many programs out there that do all the leg work for you. The service for placing ads on a blog that I recommend is called Google Adsense. Even if you are new to blogging, you probably know that Google is a huge internet company that spans the globe. They have connections with possibly millions of advertisers.

With Google Adsense, you get access to all the Google relationships they’ve made with advertisers—enabling you to place ads from these corporate connections on your blog. In less than no time, you will start to receive a portion of the commissions these advertisers make when people click or interact with the Google ads.

Google Adsense is simple to set up and 100% FREE.

You will want to start with Google Adsense because it’s quick and easy to use. But keep in mind that as your blog audience multiplies, your options to using ads for income will get even better. Aim at three hundred thousand visitors per month to your blog. (Great content will help you get there.) You’ll get excited about your options after that, but for now, Google Adsense is a great starting point.

How Does Google Adsense Pay You?

You have two ways to get paid. Getting a check in the mail is one option. Or, they can directly deposit your earnings straight to your bank account. Direct deposit is always the easiest and quickest way to go. The deposit comes in at the end of every month (From the 21st day and upward).

How You Can Give Yourself a Raise with Google Adsense

Earning a higher income is pretty simple…just get more traffic to your blog. Somewhere between 1-10% of your blog visitors will click an ad. This varies according to the blog topic, but whatever your blog is about, you will see over time how consistent this plays out. Every month for example, consider your earnings if 3% of your blog visitors click an ad.

At 3%, if you have 20,000 visitors in a month, you will generate 600 clicks. Now supposing your blog audience grew to 100,000 visitors per month, you would generate 3,000 clicks. See how this works? If you are diligent in building your blog audience, your income from ads will increase exponentially. The time taken to build up traffic provides huge amounts of satisfaction in the long run.

What Pay Rate Does Google Adsense Offer?

Again, your blog topic will play a major part in the return you receive per click. Google Adsense has paid out rates of $0.05 per click all the way up to $20 per click and beyond. For new bloggers starting out, you are probably going to earn $0.20 to $0.50 per click. Using Google Adsense is pretty much a numbers game…but that’s true with all advertising to some degree. Filling your blog with great content will definitely put the odds more in your favor. I’ve seen this with my blogs. And since creating great content is my specialty, you will definitely want to read the lessons I provide on how to produce great content.

A Simple Guide on How to Apply for Google AdSense

Step 1: First, you will want to click the red button that says ''Get Started Now''.

Step 2: Next, if you do not have a Google account, click the ''Create a New Account''. If you do have a Google account, just click ''Yes'', then proceed to Google Account sign in.

Step 3: Type in the domain name of the website you want to use with Google AdSense in the “I will show ads on” box. Then put in the language of your website. Review the Terms and Conditions and click Continue.

Step 4: Fill in your AdSense application and click the blue button that says ''Submit my application''.

Step 5: You’re finished when you see the “Thank you for applying to AdSense!” You can check out a few tutorials here to teach you more about Google AdSense if you need it.

You have submitted your application and Google will let you know whether your website is approved or not. This approval process didn’t take long. As for me, I received the approval email from Google in a couple of hours.


When you click “Get started now” in the email, you will first see a terms of service to review and accept. Then you will see below a red bar that tells you that your domain is still under review. So what you do here is proceed to your WordPress blog and place the code on your website. Google tells you here that the ads will be blank until your blog is fully approved. So click “Get started now” to continue…

After clicking “Get started now,” I found the navigation to finding my ad codes to be a bit tricky. Now, go to your Adsense dashboard and click on the blue button that says “Create your first ad unit now!”


You will then need to wait for Google to give you the final approval. Until that happens, visitors to your website will not see the ads at all. You will be able to see blank, or empty ads at first. Only after your approval will you and your blog visitors see ads.

Your approval email can take hours or days to show up in your inbox. Mine was approved about 8 hours later.



Google Adsense is a great way to start monetizing your blog. It’s simple, easy to set up, and best of all, it’s FREE.

If you’re reading this and you still haven’t started your free blogspot blog, stop procrastinating, do it now by following my step-by-step guide today.

Here is a Second Way You Can Make Money Blogging on your Blogspot Blog.

Affiliate Marketing


Personally, I'm not a huge fan of affiliate basically because of the first impression I had with them. Though most professional bloggers always suggest you go for an affiliate program, I'm still stuck with AdSense and it's been good to me. 

Anyone can do it affiliate marketing, you just need to pick what service or product to affiliate with and then take the necessary steps.

How Much Money Can You Actually Make?


When asked this question, affiliate marketing expert Alan Roy Hocking gave this great answer on his website:

“The answer to the question; “How much can I earn affiliate marketing” is that there really is no limit to the amount of money you can earn.

In the last ten years, more people have become millionaires through affiliate marketing than in any other industry and every day ordinary people just like you and me are learning how to tap into this incredible unlimited income source.

How hard you are willing to work and the niche you choose will determine how quickly you’ll succeed and how much you will earn but remember this…..

In other words, your income potential depends on you. That is great if you’re motivated and self disciplined and want to learn new things. If you’re not, well, your income will reflect that.

12/06/2017

Life Events That Require Financial Advice From An Expert

You have gone through life in a daze, under the illusion that financial advisors are only needed by retirees. The truth is that we all need them at several points in our life, so below are some life events that will require you to call in an expert/licensed financial advisor and ask for his advice on how to manage your finance:
Life Events Screenshot

1. YOU'VE JUST GIVEN BIRTH TO A BABY

As we all know, raising a child is not easy. The cost of raising a child is enormous, you have to think of food, clothing, education, etc. So have it at the back of your mind that money is going to be involved in every aspect of you and your child's life.

2. YOU JUST GOT ENGAGED

You just got engaged! Yay! Congratulations! Remember, your husband or your wife could be bringing in debts and as a loving spouse, you will want to help, or you both may have assets that you are interested in managing together, or you have some queries regarding your future together that need to be answered. You need a financial advice as soon as possible.

3. YOU JUST LOST A LOVED ONE

The loss of a loved one is tough and painful and as if it is not enough, if there are no funds available to take care of funeral costs and expenses, that painful situation could turn ugly. Arm yourself with a financial advisor and make sure that all insurance issues, decisions from the great beyond and any/all paperwork are where they are supposed to be. By doing this, you will be comfortable to grieve their loss with a free mind.

4. YOU JUST CHANGED YOUR JOB

Compliments and felicitations are surely in order but have you considered the many changes and development that will be associated with your new job? You may have to relocate or get a new insurance which brings about fresh insurance questions. Hence, it is advisable to allow a financial expert to smoothen your passage while you are training and acquiring the necessary skills needed in the new company.

5. YOU JUST GOT DIVORCED

The determination to end your marriage could be one of the toughest decisions a couple could have to make. Consider this situation, if you both have children or pets, the question of who gets who could turn a difficult situation into an ugly situation. Handle this situation with care by not just getting an attorney but by also seeking for financial advice from an expert to aid you, your spouse and your family presently and in the nearest future.

6. YOU HAVE JUST ACQUIRED A BUSINESS

Entrepreneurs handle distinctive and peculiar, hence they need determine and accept the help which comes in form of financial advice from an experienced financial advisor who can connect and empathize with their hopes and aspirations while at the same time allaying their fears.

Bottom line is, no matter what phase in life you find yourself, you need a financial expert's advice, whether you are a businessman/entrepreneur, you just got divorced, you just had a change of job, you just got engaged, just lost a loved one or you just gave birth.

10/06/2017

Suitability Versus Fiduciary: Know The Difference

If you are hoping to hire a fee-only financial advisor or you are already engaging the services of one, then you must have known that they act in separate and different capacities. These are Suitability capacity and Fiduciary capacity. These two capacities  may sound like they have the same meaning but in reality, they have different interpretations.

Read Also Zero Remorse Financial Decisions

It is very necessary to differentiate between the advisors who act in the capacity of suitability and advisors who act in the fiduciary capacity to be sure that the person who is going to manage your money is someone you can trust.
SVFKTD Screenshot

As part of the Investment Advisors Act, the Fiduciary standard created in the year 1940 is regulated by the Security Exchange Commission and upholds the standard of the financial advisor placing the interest of his client before his own.
Below are the differences between a financial advisor acting in the capacity of suitability and that of fiduciary capacity:

FIDUCIARY CAPACITY FINANCIAL ADVISOR

  •  A fiduciary capacity financial advisor must at all times put the interest of his client first.
  • A fiduciary capacity financial advisor is banned from purchasing securities for himself or herself before making the purchase for his client.
  • A fiduciary capacity financial advisor must ensure that the information used to form the investment advice given to his or her client is authentic and thorough.
  • A fiduciary capacity financial advisor must ensure that he or she divulges any conflict of interests or any possible conflict of interest in the future.

SUITABILITY CAPACITY FINANCIAL ADVISOR 

  • As opposed to his counterpart, he doesn't need to place the interest of his client before his, logically has to believe that advice given in terms of client's financial needs, purposes and uncommon circumstances.
  • He must make sure that the transaction costs do not border on being overtly exaggerated and that the advice given to a client is not inappropriate.
  •  He must not be involved in extravagant trading, swirling to bring about more commission or constantly changing accounts to cause more transaction income for himself.
  •  As opposed to his counterpart, he may choose to either divulge or not to divulge any conflict of interests or future conflict of interest.
  • The investment does not necessarily need to be in constant synchronization with the investor's objectives and profile.
  • Fee-based investment advisors are encouraged to sell their products before products of lower cost that are competing with them. Their commissions are made this way.

CONCLUSION

If your interest lies in finding a fiduciary capacity investment advisor, then you should start by looking for a financial planner who is a fee-only advisor. This is because they have a fixed price that you will be charged, they are not product-selling driven, they do not make commissions and they do not sell investment products. You can hold their advice in high standard and your interest will be placed before theirs.

08/06/2017

Financial Planning Decisions With Zero Remorse

Remembering something or someone with distress is not an enjoyable experience and we all have been at that point at least once. So turning over in our minds the different possible ways we would have gone about it will only deprive you of your present joy and happiness. So, if you have positive financial inclinations, you will live a happy and fulfilled life.
Below are some financial planning decisions you can make that will give you zero remorse.

FPDWZR Screenshot

1. PAYING OFF YOUR LOANS/DEBTS

 We all live in a world where it is easy to not remember deferred pleasure and luxury. Almost everything you could ever need and want can be financed. Regrettably, loans and debts are accompanied with interest rates that can reduce your net worth and savings. So, if you can focus on managing your debts or getting rid of it all together, you can and will provide yourself with a much advantageous and beneficial financial picture.

2. FOCUSING ON THE LONG TERM

Concentrating on the long term, financially speaking, is something that you will not regret. If you can start planning for your children and other life milestones and retirement, then those phases/stages of life will be easier on you when they finally arrive. So many options abound for saving and preparing for the long term such as: a 529 college savings plan, a 401(k), an Individual Retirement Account (IRA) or Roth IRA. Your retirement plan and benefits could be dependent upon your employer, also, the choice you make between a 401(k) and an IRA will also depend on your own personal needs and how much you are willing to give to the accounts.

3. FOCUS ON THE THEORY OF SAVING FIRST AND BUYING LATER

Most consumers contradict this notion by financially functioning in the opposite direction. The philosophy we usually see is buy now and pay later, this is why we are critically mired in debt as a country. When save up money and work hard towards getting something, there is every possibility that we are going to be appreciative of it more. When we acquire mundane and irrelevant items that depreciate in value as soon as you purchase it via credit line, we will not place much value on the Naira or Dollar which will in turn lead to accepting too much loans, spending too much and living outside our means. So, in the long run, saving first and then buying later is not only gratifying but it is favorable to our financial health.

4. FOCUS ON INCREASING YOUR SAVINGS

I'm sure you must have heard this line a million times already, nevertheless, it doesn't make it less important. One general principle is to save first then spend later. One of the ways you can do this is by setting a monthly realistic budget and living within your means. If you can practice this, then you can incorporate the extra money into your savings immediately you are paid. Having a substantial savings built up when those unexpected life events occur will give you peace of mind.

5. FOCUS ON HIRING A FEE-ONLY FINANCIAL ADVISOR

Fee-only financial advisors are registered investment advisors with a fiduciary responsibility to act in their clients' best interest. They do not accept any fees or compensation based on product sales. Fee-only advisors have fewer inherent conflicts of interest, and they generally provide more comprehensive advice. I may be marginally biased on this point but arming yourself with the services of an expert when you are making your financial plans will aid you in having a beneficial financial picture.

BOTTOM LINE

These decisions require persistence and perseverance on your part and it may take some time to see it to success but be assured that you are facing the possibility of an advantageous and beneficial financial life by carrying out this tips.

07/06/2017

Life Insurance For Women: Is It Important?

So many reasons abound as to why life insurance should form an integral part in every individual's financial planning, still, most ladies and women disregard this basic asset in the strategy of protection and are therefore more likely to be uninsured or underinsured as compared to men. Therefore, even if you are a single woman, one half of a couple or you belong to a more extended family network, even if you work from home, you are part of a laborpool, or you head your own business, life insurance is very important to secure the transference of your wealth and assets, and most essentially,to secure the interest of your family and loved ones in the future.
Insurance for women screenshot

Let us take a look at some of the classes of women and the importance attached to their getting insured:

1. SINGLE WOMEN:

As a single woman, it is very simple and easy to believe that you have no need for life insurance because you have no one depending on you, but what is often forget or ignore is that life insurance can be used to settle your debts, estate expenses, final taxes, and any other costs or expenses that may turn out to be a financial hardship to your surviving relatives.

2. WORKING WOMEN

Present day families are depending more and more on two-fold incomes to take care of everyday living expenses, to cater for extras like travel and recreational pursuits and to provide the capital needed for much longer-term financial goals such as educational loans or retirement benefits. So, if you are a working class woman, a life insurance payoff can go a long way in reducing the effects of the loss of your income on your spouse or family's lifestyle and the financial objectives they may have in the future.

3. BUSINESS OWNERS

If you are a businesswoman or business owner, life insurance can furnish you with provisional cash to finance your business expenses such as payroll or other operating costs while you are in the process of selling it to another person and while the settlement of your estate is going on. It will come in handy when you are structuring buy/sell preparations and to take care of any possible loss of other important members of your company.

4. SINGLE MOTHERS

As a single mother, your primary responsibility is to support and cater for your child's wellbeing. Life insurance provides you with a continuous income to support your child's future growth and success. 

5. STAY-AT-HOME MOTHERS

Taking care a household is an all-time job. If you have to hire professionals to take care of some household chores such as cleaning, the costs would be seriously powerful and staggering. So, if you choose to take up these responsibilities, the hours your family members put in at work could be significantly reduced. Here is where life insurance comes in. Your life insurance policy can help you pay for these services that you need to keep the household running and also allows your spouse or family to continue working.

6. FAMILY CARE-GIVERS

 Many women are into family care giving. That is they provide care to aging family members and also act as nannies or governesses. Taking care of elderly relatives may consist of out-of-pocket medical expenses, adult day-care, specially designed mode of transportation, etc. Your life insurance policy can provide the funds if there is a possibility of these financial obligations continuing even after your death.

BOTTOM LINE
Whether you are a single woman, a business woman, a single mother, working woman, full-time house wife or a family care-giver, having a life insurance policy will go a long way in easing your financial stress when you are alive and even after you have passed on.

29/05/2017

How to start a new business anywhere in the world

Every business whether small, medium or large scale usually starts with an idea. In most cases, these ideas are ones that add value to potential customers.
Once the business idea is conceived, the next thing you have to do is to transform it into action. The process of converting this idea to an action is where many to-be businessmen and women start feeling overwhelmed.

It is quite understandable if you end up freezing or getting cold feet at this stage of getting your business started, but you will also want to know that getting going is actually way more easier than you think. 

Similar to any other goal you might want to achieve, if you take your time to break each activity into sizeable and achievable chunks, you will definitely be able to handle enough of the smaller actions needed to get your goal or business started in less than no time.
 

In this article, we give a quick run-down of the processes necessary to start your new business. These steps are not too technical and anyone with an average education can apply this business start-up strategies.


Start by writing a business plan.


The first thing you might want to do is start by writing at least a one-page business plan. As you may have known, the key to any successful business during the start-up phase lies in keeping things simple and at the lowest cost possible. 

Note that cost in this sense does not mean finances but also your time.

The temptation that many would-be business owners get themselves trapped into is the issue of trying to create the largest and robust business plan the world is yet to witness. This is not a good idea when starting a small scale business. You will only need such robust business plan if you are seeking for financing and investors.

The key to a successful small business, especially in the startup phase, is to keep things simple and at a low cost. Costs don’t just mean your monetary costs, but also your time.


If you have a big heart for the future of your business, you could write those ideas for a very different business plan but for the mean time, start by writing a small business plan that is cost effective and achievable.

It is highly recommended for small-business owners to start by doing testing with their idea before pumping money and time into it.

To get started, create a simple, one-page business plan that is a high-level overview of the business you’re about to start.


How to start a new business
Photo credit: EventsInNepal.com


Vision

Start out by defining the business vision i.e. What will be the end result of the business you want to start?

Mission

Define your business mission. The mission is different from vision, In your mission statement, quick explain the purpose of your company or business.

Objectives

Define your objectives in the form: What shall I do? -- What are my goals -- that will lead to the accomplishment of my mission and vision?


Strategies

Outline your basic business strategies.
How are you going to achieve the objectives that you have just highlighted?


Action Plan

Draft a quick and simple action plan and bullet out the smaller task-oriented actions required to achieve the objectives you have just stated.


That’s it. Your ideas might be longer than one page, but it will surely be more organized and shorter than a full business plan, which could take weeks or months to write. 

Decide on a budget


While I highly recommend you keep your costs as low as possible, you’ll still need to determine a budget to get started and how much you’ll be able to spend. If you’re self funding, be realistic about numbers and whatever you anticipate your budget to be. I’ve found that an additional 20 percent tacked on for incidentals is a realistic overage amount that helps you plan your burn rate.

Your burn rate is how much cash you’re spending month over month. It’s an important number for you to figure out to determine how long you can stay in business before you need to turn a profit.

You should set up your business with profitability in mind the first 30 to 90 days. It’s possible. But have a budget reserve so you can survive if things go leaner than expected.

Decide on a legal entity

Filing paperwork to start a business costs money. Often, depending on your state, it can be a lot of money. You’ll need to account for city or municipality licensing, state incorporation or business entity fees and more. Do a thorough search ahead of time to determine what the filing fees are for your city, county and state before starting any business.

Often in the initial “test” phase for your small business, it can be wise to start as a sole proprietor, as it means less paperwork and up-front expenses. That can save you some big-time cash while you determine the viability of your business. Do be aware though that acting as a sole proprietor can put you at personal risk, so you’ll want to weigh the benefits vs. risks and then speak with a local attorney or tax professional to decide which is smarter for your short-term vs. long-term goals.

You can always file for a business entity once you’ve proven in the first three to six months of business that you’ve got a viable, sustainable model.


Take care of the money.

Whatever business entity you decide on, keep the funds separate from your personal accounts. This is a big mistake that makes tax time and financials so confusing. It’s really easy to set up a free business checking account with your local credit union or bank. All you’ll need is your filing paperwork, sole proprietor licensing information and an initial deposit to get set up from most financial institutions.

Don’t pay for an account or get any kind of credit lines yet, just get a holding place you can keep your money separated from your personal accounts. This should take you no more than hour at the financial institution of your choice.


Get your website.


Regardless of whether your business will be brick or mortar or online, you’ll need a website and that means securing a URL. Popular domain sites such as HostGator and Go Daddy will allow you to search for the website domain address of your choice and purchase it for as little as $9.99.

If you’re starting an online business, you can tie your domain to an online shopping cart and store front such as Shopify for a low monthly fee, or you can build a basic website yourself on top of your URL with do-it-yourself drag-and-drop site builders such as Weebly for a low fee. Both are less than $100 a month.


Test sales.


You now have enough of the foundation that you can start testing some sales. Try to spread the word in an inexpensive but creative ways.

Do you have a service-based business? then, get involved with your local chamber of commerce or small-business chapter immediately and ask what resources are available for you to speak or present or share information about your new business.

If you have a product-based business, test the viability of your product at local swap meets, farmers markets or other community events to test what the public really thinks (and if they'll purchase) from you.

Try using effective marketing skill to drive traffic to your website through Facebook Ads with capped budgets, or set up a simple Google AdWords advertisement account with a budget cap to test if traffic is going to your business website.


Watch this motivational business start up video





You can follow these six steps by yourself for any amount of money you purposed for starting up your business.

23/05/2017

Homeowners Insurance Policy: What It Covers

Homeowners insurance is an insurance policy that provides financial protection against disasters. It insures the home itself and the things you keep in it.
This insurance policy is a package policy. What it means is that it covers all damages to your property and your liability or legal responsibility for any injuries and property damage you or members of your family may cause to other people. This also includes damage caused by household pets.
Damage caused by most disasters is covered but there are exceptions. The most significant are damages caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage.
Homeowners Insurance Screenshot

Most basic homeowners insurance policies include four essential types of coverages:

1. Coverage For The Structure of Your Home

Your homeowners policy covers the repair or rebuild of your home if it is damaged or destroyed by fire, hurricane, hail, lightning or other disasters listed in your policy. It will not pay for damage caused by a flood, earthquake or deterioration. When purchasing coverage for the structure of your home, remember this simple ground rules: Purchase enough coverage to rebuild your home.
Most policies also cover separate constructions such as a garage, tool shed or gazebo—generally for about 10 percent of the amount of insurance you have on the structure of your home.

2. Coverage For Your Personal Belongings

Your furniture, clothes, sports equipment and other personal items are covered if they are stolen or destroyed by fire, hurricane or other insured disasters. The coverage is generally 50-70 % of the  insurance on the structure of your home. The best way to determine if this is enough coverage is to conduct a home inventory.
Personal belongings coverage includes items stored off-premises— this means you are covered anywhere in the world. Some companies limit the amount to 10 percent of the amount of insurance you have for your possessions. You also have up to $500 of coverage for unauthorized use of your credit cards.
Expensive items like jewelry, furs, art, collectibles and silverware are covered, but there are usually dollar limits if they are stolen. To insure these items to their full value, purchase a special personal property endorsement or floater and insure the item for its officially appraised value.
Trees, plants and shrubs are also covered under standard homeowners insurance—generally for about $500 per item. Trees and plants are not covered for damage by wind or disease.

3. Liability Protection

Liability protection covers you against lawsuits for bodily injury or property damage that you or family members may cause to other people. It also pays for damage caused by your pets. So, if your son, daughter or dog accidentally ruins a neighbor’s expensive rug, you are covered. However, if the reverse is the case, i.e, your neighbor's child or pet destroys your rug, you’re out of luck.
The liability portion of your policy pays for both the cost of defending you in court and any court awards—up to the limit stated in your policy documents.
Liability limits generally start at about $100,000, however, it’s a good idea to discuss whether you should purchase a higher level of protection with your insurance professional. If you have significant assets and want more coverage than is available under your homeowners policy, consider purchasing  an umbrella or excess liability policy, which provides broader coverage, including claims against you for defamation of character, as well as higher liability limits.
Your policy also provides no-fault medical coverage, so if a friend or neighbor is injured in your home, he or she can simply submit his medical bills to your insurance company. This way, expenses are paid without a liability claim being filed against you. However, it does not pay the medical bills for your own family or your pet.

4. Additional Living Expenses (ALE)

ALE pays the additional expenses if you are temporarily unable to live at home due to damage from a an insured disaster. It covers hotel bills, restaurant meals and other costs, over and above your usual living expenses, incurred while your home is being rebuilt.
Keep in mind that the additional living expenses (ALE) coverage in your homeowners policy has limits—and some policies include a time limitation. However, you can generally increase the amount of ALE coverage for an additional premium.
The coverage limit on your ALE is different from the amount available to rebuild or repair your home. Even if you use up your ALE, your insurance company will still pay the full cost of rebuilding your home up to the policy limit.
If you rent out part of your house, ALE also covers the rent that your tenant would have paid if your home had not been destroyed.

22/05/2017

Insurance Agent App for Insurance Professionals

Insurance companies are almost in every nook and cranny Nationwide and there are lots of competitions as a result of this massive explosion of Insurance agencies, so as a rule of thumb, Insurance professionals must seek for ways to maximize their time and effort towards their competitors.