Tuesday, July 22, 2014

Adult Kids Living with Parents

They're known as the boomerang generation. Many parents ship their children off to college with the expectation that they will not return to live at home. Thanks to the ebb and flow of the U.S. job market those expectations are changing. So how do parents adjust to this new phase of adult children living at home? Find out in the article below...
Coming together under one roof again can be an uncomfortable adjustment for parents who thought they were done raising their kids, but find themselves having to parent in a new way. With grown children, expert Rachel Cruze, author of "Smart Money Smart Kids," recommends establishing clear guidelines and setting expectations in writing.

Top 10 Sink Hole Counties in Florida

Check out this list of the top 10 counties in Florida with the most sinkhole claims. Find out which counties require more precaution when driving according to the RiskMeter Online Service. The state also reported that the cost of sinkhole claims is on the rise. Learn more in the article below...
The list is based on information from the company’s RiskMeter’s sinkhole database and its sinkhole clearinghouse, which the company says contains more than 12,000 sinkholes not available from public sources. Sinkhole losses have been on the rise the last few years in Florida. According to a report by the state, 211 property insurers responded that claims increased from 2,360 in 2006 to 6,694 in 2010, totaling 24,671 claims. The total dollar amount of those claims was approximately $1.4 billion.

Court Ruling on Obamacare Subsidies

Obamacare is facing yet another obstacle. Courts recently ruled against Obamacare subsidies for Federal Exchange insureds. This ruling may impact over 8 million people. This article breaks down the recent ruling on Obamacare. Find out more in the article below...
President Barack Obama’s healthcare overhaul suffered a potentially crippling blow as a U.S. appeals court ruled the government can’t give financial assistance to anyone buying coverage on the insurance marketplace run by federal authorities. The decision, if it withstands appeals, may deprive more than half the people who signed up for Obamacare the tax credits they need to buy a health plan. The way Congress wrote the Patient Protection and Affordable Care Act makes clear that the subsidy is available only to consumers who bought plans on state-run exchanges, the U.S. Court of Appeals in Washington ruled today.

Earthquake Hazard Maps Reveal High Risks for Some States

Are you prepared for natural disasters? Recently updated earthquake hazard maps show sixteen states at an alarming risk of severe earthquake activity in the next fifty years. Find out which states are at risk and what they can do to prepare for the earthquakes in advance.
The western United States faces a high risk of damaging earthquakes up and down the coast and in the intermountain region, the report said. The California cities of San Jose, Vallejo and San Diego all saw a heightened threat, as new fault lines have been recently discovered, the report said. The cities of Irvine, Santa Barbara and Oakland had their threats downgraded however, the report said.

Should I Lock My Insurance Policies in a Safe Deposit Box?

Sometimes close family members and friends can unintentionally steer us in the wrong direction. When it comes to your personal finances seeking counsel from a professional is always recommended. Your dear old uncle's financial advice for insurance may be a bit outdated or behind the bar on regulations and current trends. How many of these common money myths have you heard before?
1-Lock up all insurance policies and other important documents in a safe deposit box 
Do not keep your life insurance policy in a safe deposit box. If yours is the only name on the safe deposit box, no one but the executor of your will can get into it without Power of Attorney. If your life insurance policy is locked in there, your beneficiaries will have to wait until the estate is opened by a government entity and an executor is appointed. If you want the assurance of having important documents locked up, buy a fire-safe box.

Wednesday, July 16, 2014

Smart Planning for Your Summer Vacation

Many families plan for summer vacation long before the summer's arrival.  This article offers great advice for financially preparing for a great summer vacation. Get ready to rev up a great summer vacation without derailing your budget.
Traveling to your dream destination this summer (or fall) doesn’t have to be a budget buster. We have strategies to save on every aspect of your vacation, from airfare to lodging to entertainment. You’ll keep enough cash to upgrade to a more comfortable experience, or at least come home with a few dollars still in your wallet. Here’s how to save on four different dream getaways: a romantic trip abroad for two, a volunteer vacation, a family reunion and an adventure cruise. 
Susannah Snider

Commercial Auto Insurance

Commercial auto insurance provides comprehensive protection for bodily injury and property damage caused by company-owned vehicles, as well as non-owned vehicles, used for the business. Be sure to read the fine print, because not all insurance companies will disclose the hidden components of the policy up front. To learn more about commercial auto insurance visit our online resource center.

Why Homeowner's Insurance is Important

Homeowner's Insurance

As one of the most prized possessions of your life, your home needs insurance coverage that protects you from all types of unforeseen and/or unfortunate events. A traditional homeowner’s insurance policy does not cover all natural disasters such as floods and earthquakes. If you reside in a high-risk area, you should seriously consider comprehensive coverage. Learn more about the ins and outs of homeowner's insurance with our online insurance resource.

Auto Insurance 101

At B & B Insurance, we've made auto insurance completely hassle free. Once you're insured, you can drive with complete peace of mind, knowing that you, your family – and your vehicle - are fully protected. Auto insurance protects your automobile, and covers for the loss of belongings that might be stolen, damaged, or lost. In some cases, auto insurance can help you in the unfortunate event of a resulting lawsuit. To get the right auto insurance coverage, simply fill out our online Quote Form or call us to speak with our insurance agents now.

Estimating Insurance Needs

Estimating Insurance Needs

Regardless of whether you're single or married, you'll need to figure out your expenses, and plan for the future. If you have dependents, you must buy enough insurance to replace the income you currently generate for them, and also compensate for any additional expenses they might incur to replace the services you presently provide. Although there isn’t any specific formula to estimate life insurance needs, a quick and basic way to get a rough estimate is to take your annual income and multiply it by 7. For more information on insurance needs visit our online insurance resource.

Wednesday, July 2, 2014

Insurance For Every Stage Of Your Life

When is the right time to buy life insurance? What age is appropriate for obtaining a disability insurance policy? Some people think that they are way too young for such policies, but they would be wrong. This piece from Business Insider gives some excellent tips on which insurance policies you should get at certain ages.

Renter's insurance (when you rent your own place). Renter's insurance, while not a baseline requirement like health or auto insurance, is something any renter will be glad to have in the case of a fire, leak, or storm. While policies differ, they're generally low cost (think $30 a month) and cover costs including the replacement of your personal property as well as a temporary living situation should you be unable to occupy your rented home. Note that, if needed, you can usually add coverage to this policy for an engagement ring.

What Happens When You Go Without Homeowner's Insurance

Many people view homeowner's policy with disdain, not only because of the additional cost but because they aren't sure what it covers. Yes, it is something required by lenders, but it isn't only for their benefit. If you do not have homeowner's insurance your lender has the right to purchase it for you, so stay ahead of the curve and do your research. The following article explores what happens when someone doesn't have homeowner's insurance.

By not having an insurance policy, you’ve put yourself and the lender at unnecessary risk. If you want to be mad at someone, be mad at yourself for not complying with the legal agreement you signed. As for your escrow account being negative, the lender has the right to require you to keep enough cash in that account to cover your property taxes and insurance premiums. Your mortgage will go up every month until it not only covers the expense, but there is a two month cushion in addition to the basic costs.

Why You Need Baggage Insurance?

Traveling is hectic and stressful enough without having to worry about losing your favorite earrings, or having your favorite luggage stolen. Very recently British Airways was in the media for losing thousands of pieces of luggage. How can you protect yourself from such a scenario? Read below for your answer.

First, it’s important to know that your baggage is actually covered to a certain extent when you purchase your plane ticket. On domestic flights, liability for loss, delayed, or damaged baggage is covered by your airline and usually limited to $3,400. All the carriers have their own version, but as you can see on American Airlines' liability page, there are various restrictions and rules that determine your actual payout. That $3,400 dollars is not automatic — damage or loss must be proved, and the airlines won't pay if they believe your bag was unsuitably packed. What does that even mean?

Do You Need The Extra Rental Car Insurance?

How many times have you gone to rent a car? Do you get frustrated when the rental place insists on supplemental insurance? Many people feel that their own personal auto insurance is more than sufficient, and they are often correct. Read the following article for insight on why you may not need supplemental auto insurance.

"The majority of consumers are covered by their own auto insurance, but they may not know it," he said. "They may be spending extra money when they don't have to."

How Long Are Your Loved Ones Covered Under Your Current Life Insurance Policy?

When considering a life insurance policy, it is common practice to think of covering your family's financial needs when you are gone. How does a person determine the amount of time to provide for? How can you take into account cost-of-living increases when they have no idea what will happen in the future? Many people think that they are creating a cushion for a certain amount of time, only to find that they have not prepared sufficiently. The following article explores this conundrum, and offers some great advice.

The survey found that the life insurance coverage gap varies by geographic region, with families in the Western U.S. facing the biggest gap of $457,000. The median amount of life insurance coverage in place for families in the Western U.S. is $250,000, compared to $707,000 that they said would cover their needs. The Northeast had the next biggest coverage gap of $334,000, and the South’s coverage gap came in at $302,000. The Midwest had the smallest coverage gap of $229,000–because their self-reported needs at $430,000 were the lowest.