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Unlike homeowners, people who rent apartments often think that there is no need for them to purchase insurance, but what happens if there is a fire and all of your possessions go up in flames? Can you afford to replace everything from clothing to furniture to your new expensive TV? Most people think they don’t own enough to worry about it. However, the fact is that if you tallied up the cost of everything in your apartment you would probably be surprised to learn just how much it would cost

If you are like most people, when it comes to insurance coverage you think “I have insurance so I am covered for everything, right?” Unfortunately, the idea that you are covered for everything is not that simple. All policies have exclusions, limitations and conditions. Exclusions are designed to eliminate specific hazards that insurance companies cannot or do not want to provide.

These exclusions and limitations are designed to prevent various incidents from being covered that could ruin an insurance company, such as a nuclear disaster. Other limitations help curb fraud. For

The wrath of Mother Nature has always been a real concern, but lately it seems as though she has been especially scornful. A recent article by Patricia-Anne Tom was published in the Insurance Journal that discusses this issue and how it affects all of us. Dr. Erwann Michel-Kerjan is the managing director of the Wharton Risk Management and Decisions Processes Center in Pennsylvania, and in the article he explains the drastic increase in the number of catastrophes and the way they impact an ever-increasingly interconnected world.

Dr. Erwann Michel-Kerjan uses the first decade of the

The day has finally come where your child is getting their learner’s permit, which is the first stop on your child’s journey to getting their license. You can now look forward to driving around in empty parking lots, lecturing them on the importance of driving the speed limit, and putting on your blinker 100 yards before a turn. While they could not be more thrilled by this new sense of freedom, you could not be more frightened by the idea that they will soon be outside the scope of your

In today’s economically fragile society, frugality has become an art form. Below are some tips to help you squeeze every last dollar out of your vehicle. These suggestions will not only help you save a few dollars, but are good habits to put into practice as a responsible automobile owner and driver.

1. Maintain your vehicle properly.

• Keep your engine properly tuned. • Keep tires inflated to recommended levels and use the recommended grade of motor oil.

2. Don’t drive erratically.

• Hang up your phone, don’t tailgate and use cruise control. •

After the honeymoon is over and all the thank you cards have been sent out you might have been under the impression that you were able to kick back and relax for awhile. The reality is there are a number of business related questions you are going to have to answer. Will one of you be changing your name? Whose family are you going to for Thanksgiving? Are you to going to be on the same auto policy?

One of the advantages to adding your spouse’s vehicle to your policy is

Some of the world’s leading insurers and reinsurers have issued initial estimates of how much the earthquake that hit Japan on March 11 will cost them and more are expected do so over the next few weeks. Risk modeling agency RMS has estimated the total insured loss at between $21 billion and $34 billion, while rivals EQECAT and AIR Worldwide are expecting losses of $12 billion-$25 billion and $20 billion-$30 billion, respectively. The following are company loss estimates issued so far:

 Munich Re – €1.5 billion ($2.1 billion)

Swiss Re – $1.2

1.  The minimum insurance limits allowed by law are sufficient coverages for you to drive around with.

 This is a dangerous myth. The minimum insurance limits required by law provide a small amount of coverage for others, and has almost no coverage to protect you or your vehicle. Proper coverage limits for today’s litigious society include liability limits at $250,000 per person/$500,000 per accident, $250,000 in property damage, and $25,000 in medical payments. If your vehicle is ten years old or newer then collision with a $500 deductible and comprehensive with

Do you find that during the spring thaw your basement takes on water? If so, below are 5 things you should know in the event you have water in your basement.

Water leaking into your basement is not covered under flood insurance.

If you have a leaky basement, your flood policy is not going to respond. In order to receive assistance from your flood policy, your property and at least one adjacent neighbor (or 2 acres of land) must be completely inundated with surface water.  If you have no surface water in

For most people purchasing homeowners insurance is just another obligatory step in the home buying process. Homeowners find themselves putting their name on yet another dotted line hoping that the standard homeowners policy they just purchased ensures the complete safety of their new investment. Homeowners policies, however, contain a basic exclusion for water which backs up through the sewer or drains, leaving you responsible for the physical damage, contents, and clean up. Coverage can be purchased, and is often times included in a package endorsement.

 Water backup claims occur most frequently