Boating & Water SafetyOne of summer’s greatest joys is heading to the beach or pool to enjoy the warm weather. Before packing the swimming and boating gear, consider this: most boating and swimming accidents occur because people don’t stop to think about safety. Read more...
Accident Spurs Call for Maine Drivers to Have More Insurance
From The Portland Press Herald:
Badly hurt in a 2008 car crash, where they were not at fault, a couple from Benton urges lawmakers to pass a bill mandating higher liability coverage. To read the article from The Portland Press Herald, click here.
Upgrade Your Homeowners Insurance
Without adequate home insurance, you may not be able to cover rebuilding your home and replacing its contents in the event of a total loss. The policy should include an inflation guard as well as extended-replacement coverage, which insures the difference if the price to rebuild exceeds your dwelling limit. Check for building-code coverage, which helps with any discrepancy between the limits of coverage and the actual cost to rebuild. Look for loss-of use coverage that includes 24 months of housing and related expenses while rebuilding takes place. Overlay your homeowners policy with an umbrella policy providing at least $1 million of liability protection beyond standard coverage. And be sure to make a list of everything in your home. ~Kiplinger’s Personal Finance Advisor, June 2010.
Consider Flood Insurance
This is a great time to consider Flood Insurance. It’s mandatory if you have a federally backed mortgage and live in a high-risk zone. It’s optional if you don’t have a mortgage or you live in a less risky area, but it’s an option you should consider because 25% of all flood claims are made in low to moderate risk areas. Even though the program is run by the feds, you purchase a policy through an insurance agent. You don’t have to comparison shop because rates are set by Uncle Sam. Annual premiums for a home and contents in a low-risk zone could run as little as $119 to $395 annually depending on coverage. (Kiplinger’s Personal Finance, 2010)