Free Homeowners Insurance

Since your home is likely your largest and most significant financial investment, it's vital to have a comprehensive homeowner's insurance policy in case of a tragic event. Many homeowner policies also have coverage that extends to the valuable possessions that you keep in and around your home as well as liability coverage in case someone gets injured or hurt on your property.

Basic Types of Homeowner Insurance Policies
There are several different types of homeowner insurance policies. The type of policy you choose will depend on the state in which you live and whether or not your own your home. The most basic policy is called the HO-1, which is a limited coverage policy. This basic policy only covers the first 10 disasters that you claim on your insurance. However, most states no longer offer the HO-1 policy.

The HO-2 policy is a bit more comprehensive than the HO-1, but it's not much better. It provides coverage for the first 16 damage claims. You can also get this type of policy for a mobile home.

The HO-3 is the most popular homeowner insurance policy because it provides comprehensive protection for your home and belongings. There are, however, some exemptions to the coverage, but those exemptions are spelled out in the policy. You can often add "riders" or other forms of insurance to cover things that are exempt in your HO-3 homeowner policy.

There are also several other types of policies that are less common. The HO-8, for instance, is available for older homes to protect the actual cash value rather than the replacement cost. An HO-6 policy is available for condominiums and co-ops. There is also the HO4-Renter policies that protects people who are renting their home and their belongings within the dwelling.

Levels of Coverage
As there are different types of policies you can choose from as a homeowner, there are also three levels of coverage available. Actual cash value is one of the most common terms in a homeowner's policy. It refers to the type of coverage that will replace your home and/or possessions at their current cash value. This means if you had a TV that was worth $5,000 when you bought it three years ago, your insurance may only reimburse you $2,500 because it depreciated 50 percent since you bought it new.

Replacement cost is the more popular level of coverage because it pays the policyholder the price of repairs and replacements at the current value. With replacement cost coverage, there is no deduction for depreciation so the policyholder can replace their belongings without suffering a financial loss.

Extended replacement cost is even more popular than the normal replacement cost level. With this type of policy, you can have any repairs done to your home to bring it back to the way it was before the disaster regardless of the cost. Your insurance company will usually pay an extra percentage of your policy limits to bring your home back to normal. However, these types of policies are not available for older homes.

Having a comprehensive home insurance policy is essential for protecting your investment, your home and your family. It also offers a peace of mind that you simply cannot put a price on.

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Free Health Insurance

With the rising costs in medical care, health insurance is a vital commodity to have these days. But with all of the options and different types, choosing between health insurance policies can be overwhelming. Health insurance policies typically fall into two categories – indemnity plans and managed care plans.

Indemnity Health Care Plans
Indemnity plans are often referred to as fee-for-service plans because you are charged a fee from the health provider after services are rendered. However, you have the option of going to any health care provider of your choice under this type of plan. There are five basic indemnity health care plans available.

Basic Indemnity Health Plan
Basic indemnity health plans give the insured the flexibility to choose their own health care provider. The plan then reimburses the insured or the provider for the costs incurred for services. The insured is usually responsible for a deductible before the plan begins to pay and they typically have to pay a co-payment for services as well.

Healthcare Flexible Spending Plans
Flexible spending plans are indemnity plans that are usually offered by a person's employer. However, the employee can design their own benefit package to meet their health care needs. Some of these types of plans include a pre-tax conversion plan, medical plans plus flexible spending accounts and pre-tax conversion plans, among others.

"Basic and Essential" health plans are indemnity plans with more limits and restrictions, but they are less expensive than other indemnity plans. Premiums are also based on a person's health status, gender, occupation and age. As a result, these plans could be rather costly depending on a person's perceived risk and needs.

Health Savings Accounts, or HSAs, are basically savings accounts that allow people to save money tax-free for their health care needs. There are no premiums with HSAs, but they will help you pay any health-related out-of-pocket expenses.

High-Deductible Health Plans, or HDHPs, are plans that cover the insured only for catastrophic health events. However, the insured is usually responsible for a high deductible before this type of plan kicks in.

Managed Care Health Plans
Managed care options are typically less expensive than indemnity plans, but they are more restrictive. There are basically three types of managed health care plans from which you can choose.

POS Health Plan
Point-of-Service, or POS plans involve referrals among doctors within your plan. Your services are covered if your primary care doctor refers you to another doctor. However, if you refer yourself to another doctor, you are responsible for a percentage of the coverage.

Health Maintenance Organization Health Insurance Plan
Health Maintenance Organizations, or HMOs, are plans that in which you are basically managed by your primary care physician. Your doctor refers you to other doctors if necessary and the HMO plan pays most of the cost. You are generally responsible for a small co-payment, but there are fewer out-of-pocket expenses than with other plans.

Preferred Provider Organizations Insurance Plan
Preferred Provider Organizations, or PPOs, are managed care plans that involve healthcare services within a network. These plans typically pay health care providers based on a discounted fee schedule. You can go out of the network, but you will be responsible for the difference in cost.

Other than indemnity health plans and managed care plans, there are also government-sponsored plans that cover children, senior citizens, disabled persons, Native Americans, military personnel and those who typically cannot afford health care.

When choosing the health care plan that's right for you, evaluate your needs realistically and make a decision based on that. It's the best way to ensure you're not paying premiums and expenses for options that you will never use.

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Best Auto Insurance

Auto Insurance
With the exception of Wisconsin and New Hampshire, drivers in all states need some form of auto insurance in order to legally be on the roads. In addition to being a legal responsibility, auto insurance is also a social responsibility so other drivers have a financial recourse in the event of an accident.


Types of Auto Insurance Coverage
There are basically six types of auto insurance coverage included with most policies. Some of these are required, but others are optional depending on the various state laws. Bodily injury liability and property damage liability are two types of coverage that are required in most states because it provides financial protection for others in case you damage their property or cause bodily harm to them. Many times, this type of coverage also pays your legal bills if you are the one that caused the accident.

Collision and comprehensive coverage are two more types of coverage offered on most basic auto insurance policies. The collision aspect of this coverage is the part that pays for repairs to your own vehicle after an accident. Or, if your car is damaged too much, the insurance company will often provide the cash value of the vehicle rather than fix it. The comprehensive aspect of this coverage is for damages that happened for reasons other than an accident, such as fire, theft, natural disasters or vandalism. Comprehensive coverage often covers windshield cracks, too.

Personal Injury Protection and MedPay are types of coverage that are used to pay for medical bills, bodily injury and even funeral expenses as the result of an accident. This type of insurance is only required in about 16 states, but it's often unnecessary if you have medical coverage already.

Uninsured or underinsured motorists (UM and UIM) coverage covers a driver if they are struck by another driver that is uninsured or underinsured. This type of coverage is also used in the event of a hit-and-run accident. UM coverage is required for drivers in most states, but UIM is only required in a few states.

Different Types of Auto Insurance Coverage
Although there are six basic types of coverage included with most auto insurance policies, you can also get some extra coverage that makes things easier in case of an accident. For instance, you can get coverage that reimburses you for a rental car if your car gets damaged or stolen. You can also get coverage that pays for towing and labor charges in case your car breaks down on the road. There is also gap insurance that basically pays off your car if you are still making payments on it and it gets totaled.

With auto insurance, coverage requirement differ from state to state. It's important to know your state's requirements before getting behind the wheel of a car. Talk to your insurance agent and make sure you have the required amount of coverage. It's not only a responsibility you have to yourself, it's a responsibility you have toward your fellow drivers.

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