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Auto (Personal)

Automobile insurance protects you against financial loss if you have an accident.  It is a contract between you and the insurance company.  You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.

Automobile insurance provdes property, liability and medical coverage:

  • Property coverage pays for damage to or theft of your car.
  • Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
  • Medical coverage pays for the cost of treating injuries, rehabilitation and somtimes lost wages and funeral expenses.

An auto insurance policy is comprosed of six different kinds of coverage.  Most states require you to buy some, but not all, of these coverages.  If you are financing a car, your lender may also have requirements.

Most auto policies are six months to a year.  Your insurance company should notify you by mail when it is time to renew the policy and to pay your premium.

At Neighbor's Insurance Advisors, we have several automobile insurance carriers to choose from.  For more information, please contact us or request an automobile quote.

Source: Insurance Information Institute - Used with permission.  www.iii.org

Auto Quote(DOC)


Boat/Yacht

Most companies provide limited coverage for property damage for small boats such as canoes and small sail boats or small power boats with less than 25 mile per hour horse power under a homeowners or renters insurance policy. Coverage is usually about $1,000 or 10 percent of the home's property value and generally includes the boat, motor and trailer combined. Liability coverage is typically not included–but it can be added as an endorsement to a homeowners policy. Check with your insurance representative to find out if your boat is covered and what the limits are.

Larger and faster boats, yachts, and personal watercraft such as jet skis and wave runners require a separate boat insurance policy. The size, type and value of the craft and the water in which you use it factor into how much you will pay for insurance coverage.

For physical loss or damage, coverage includes the hull, machinery, fittings, furnishings and permanently attached equipment for an agreed value. These policies also provide broader liability protection than a homeowners policy.

Boat insurance also covers:

  • Bodily injury—for injuries caused to another person
  • Property damage—for damage caused to someone else’s property
  • Guest passenger liability—for any legal expenses incurred by someone using the boat with the owner’s permission
  • Medical payments—for injuries to the boat owner and other passengers
  • Theft

Most companies offer liability limits starting at $15,000 and can be increased to $300,000. Typical policies include deductibles of $250 for property damage, $500 for theft and $1000 for medical payments. Higher limits may be available. Additional coverage can be purchased for trailers and other accessories. Boat owners may also consider purchasing an umbrella liability policy which will provide additional protection for their boat, home and car.

Boaters should also inquire about special equipment kept on the boat, such as fishing gear, to make sure it is covered and verify that towing coverage is included in the policy.

Source: Insurance Information Institute - Used with permission.  www.iii.org


Disability

When most people think about insuring their valuables, they think about their car or their home. But your most valuable asset is actually your ability to earn a living.  Insuring your livelihood is more important than insuring your possessions, and that’s what disability income insurance does: it provides you and your family with an income if you’re too sick or injured to work.

If becoming disabled may seem unlikely, the odds may surprise you.  Nearly 1 in 5 Americans will become disabled for 1 year or more before the age of 65.

The other thing to keep in mind is that an accident or illness that keeps you out of work for a period of time can be very costly.  That's because people who become disabled not only need to continue providing for loved ones, but for themselves as well.  A disabling injury or illness could lead to medical bills, modifications to your car or home, or other unforeseen needs that can be quite expensive.  For all these reasons, almost anyone who works ­ whether they're single, married, with children or without ­ should consider disability income insurance.

Source: Insurance Information Institute - Used with permission.  www.iii.org


Flood

Here's how "flood" is defined by the National Flood Insurance Program:

"A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is the policyholder's property) from:

  • Overflow of inland or tidal waters; or
  • Unusual and rapid accumulation or runoff of surface waters from any source; or
  • Mudflow; or
  • Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above."

So, in plain English, a flood is an excess of water (or mud) on land that's normally dry.

Floods often happen when bodies of water overflow or tides rise due to heavy rainfall or thawing snow. But you don't have to live near water to be at risk of flooding. A flash flood, which can strike anywhere without warning, occurs when a large volume of rain falls within a short time.

More and more buildings, roads and parking lots are being built where forests and meadows used to be, which decreases the land's natural ability to absorb water. Coupled with changing weather patterns, this construction has made recent floods more severe and increased everyone's chance of being flooded.

Dangerous or damaging floods don't always mean dramatic, rushing waters through the streets of your hometown. Just a single inch of water can cause costly damage to your home! Keep this in mind when you're considering flood insurance.


Health

Health insurance is one type of insurance you're pretty much guaranteed to use. We all need medical attention from time to time, and some of us need it quite frequently. When care is needed, you want to focus on getting better ­ not on how you're going to come up with the money to pay your medical bills. A good health insurance plan allows you to focus on what's most important, your physical well being.

Is there anyone who doesn't need health insurance? Not really. Even if you're young, healthy and haven't had to see a doctor in years, you never know when you might be involved in an accident or be diagnosed with a serious medical condition. While your health insurance coverage will pay for things that aren't too costly like routine doctor's visits or lab tests, the main reason to have coverage is to have protection against the potentially catastrophic expenses of serious illness or injury.

Source: Insurance Information Institute - Used with permission.  www.iii.org


Homeowners

Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.

Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.
Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.

Source: Insurance Information Institute - Used with permission.  www.iii.org


Life

If someone depends on you financially, chances are you need life insurance.  Life insurance provides cash to your family after your death.  This cash (known as the death benefit) replaces your income and can help your family meet many important financial needs like daily living expenses, mortgage payments and college savings.  What's more, there is no federal income tax on life insurance benefits.

Most Americans need life insurance.  To figure out if you need life insurance, you need to think through the worst-case scenario.  If you died tomorrow, how would your loved ones fare financially?

Would they have the money to pay for your final expenses (e.g., funeral costs, medical bills, taxes, debts, lawyers fees, etc.)?  Would they be able to meet ongoing living expenses like the rent or mortgage, food, clothing, transportation costs, healthcare, etc?  What about long-range financial goals?  Without your contribution to the household, would your surviving spouse be able to save enough money to put the kids through college or retire comfortably?

The truth is, it's always a struggle when you lose someone you love.  But your emotional struggles don't need to be compounded by financial difficulties.  Life insurance helps make sure that the people you care about will be provided for financially, even if you're not there to care for them yourself.

Source: Insurance Information Institute - Used with permission.  www.iii.org


Long Term Care

Because of old age, mental or physical illness, or injury, some people find themselves in need of help with eating, bathing, dressing, toileting or continence, and/or transferring (e.g., getting out of a chair or out of bed). These six actions are called Activities of Daily Living–sometimes referred to as ADLs. In general, if you can’t do two or more of these activities, or if you have a cognitive impairment, you are said to need “long-term care.”

Long-term care isn’t a very helpful name for this type of situation because, for one thing, it might not last for a long time. Some people who need ADL services might need them only for a few months or less.

Many people think that long-term care is provided exclusively in a nursing home. It can be, but it can also be provided in an adult day care center, an assisted living facility, or at home.

Source: Insurance Information Institute - Used with permission.  www.iii.org


Medicare Supplement

Coming soon.


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