homeowner s insurance health insurance auto insurance n.
Skip this Video
Loading SlideShow in 5 Seconds..
Homeowner’s Insurance Health Insurance Auto Insurance PowerPoint Presentation
Download Presentation
Homeowner’s Insurance Health Insurance Auto Insurance

Homeowner’s Insurance Health Insurance Auto Insurance

222 Vues Download Presentation
Télécharger la présentation

Homeowner’s Insurance Health Insurance Auto Insurance

- - - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript

  1. Homeowner’s InsuranceHealth InsuranceAuto Insurance Note Information in this presentation is derived from Insurance for Dummies by Jack Hungelmann. I highly recommend this book.

  2. Homeowner’s Insurance

  3. Odds of a house burning down: 1 in 1,200 Source: But there is more to home insurance than fire insurance

  4. Six Parts of a Homeowner’s Insurance Coverage A: Damage to residence B: Damage to detached structures C: Damage, theft of personal property at home or anywhere D: Living costs (e.g., hotel, meals) E: Non-vehicle personal liability for injuries/property damage at home and anywhere F: Medical payments to guests injured on your property

  5. Coverage A: Insuring Your Home • Bottom Line: Insure for 100 percent of the replacement cost of the property • Long story short, if you do not at least insure for 80%, you may not be fully insured in the event of partial damage (e.g., kitchen fire). • Keep in mind, if you pay, say $300,000 for a house, that cost includes the land. • If your house is appreciating each year, you may need to increase the insurance

  6. Coverage E: Personal Liability Very Important Coverage! Covers liability for injuries and property damage, lawsuits, defending lawsuits, covering most non-vehicle personal liability worldwide

  7. Examples of Claims Coverage E Covers • You hit the catcher with a baseball bat playing baseball • You spill a drink on the neighbor’s living room carpet ruining the carpet

  8. Personal Liability, Coverage E General Rule: Set the personal liability on homeowner’s at the same level you set liability on other policies (e.g., auto) Rationale: nobody knows where a law suit or injury may come from

  9. Homeowner’s Insurance typically does not cover • Earthquakes, tremors, landslides, sinking or shifting • Water that enters the house at or below ground level (e.g., sewer backup, flood) • War

  10. Health Insurance

  11. Two Types of Health Insurance • Dollar Maximum Per Claim: Maximum the insurance company will spend for any single injury or illness • Dollar Maximum per lifetime: Maximum the insurance company will pay out over your lifetime

  12. Be Careful, regardless of the type Some policies have limits such as $200 a day for room and board $4,000 for XYZ surgery

  13. Group Health Insurance Questions to Ask • What is the maximum coverage limit? • What is the maximum annual out-of-pocket expenses? • Are there any limits on any expenses such as a specific surgery or room charges? • Can you see a specialist without a referral? • Is the coverage worldwide?

  14. Auto Insurance

  15. Auto Insurance Policy Categories • Liability Coverage (injury and property) • Medical Payments (for you) • Collision and Comprehensive (your vehicle) • Uninsured/Under-insured

  16. Auto: Liability Insurance Covers • Lawsuits: suability factor is important • pays for your defense • legal judgments • Lost wages • Pain and suffering • Medical Expenses

  17. Auto Split Limit Liability Insurance

  18. Who you hit matters!

  19. Auto: Liability ExampleYou hit a ____ who is hurt, misses one year of work

  20. So, if you have a high suability factor. . . . . . consider buying an Umbrella Policy

  21. Saving Money on Car Insurance • Buy a safe vehicle- test crash results • Choose high collision and compr. deductibles • Keep a clean driving record • Maintain a high credit score • Insure your car and home with the same company • Don’t submit small claims on property damage • Study– G.P.A of 3.0 or greater