A diamond engagement ring is a valuable item, one that many feel should be insured. After all it is probably one of the more expensive items you own and because it is worn everyday it is exposed to a good deal of wear and tear. It is also relatively small, compared to most items we routinely insure, so it is also easier to lose. If it is taken off for cleaning or other reasons it can be lost, but if it is worn while cleaning or participating in sports it can be damaged from direct contact or using chemical cleaners.
The best way to have peace of mind is to purchase an engagement ring insurance policy. While this doesn’t need to be a daunting task there are some things you should know before you start shopping. First don’t assume your homeowner’s policy will provide full coverage. It will likely provide some coverage, but only a minimal amount. It is best to add a rider onto your regular policy to cover any valuable jewelry, or just get a separate policy.
You can go with the same company you use for your home and auto insurance. In fact if you bundle all your insurance needs together with the same company you may even get a discount. But make sure you are happy with the policy and coverage they offer. It isn’t worth a discounted premium if you find yourself unhappy with your policy only after you have made a claim, when it is too late.
You should do some comparison shopping anyway. Compare the policy details and the rates quoted by your regular insurance company and those provided by a jewelry insurance company. Engagement ring insurance companies specialize in insuring jewelry so even if you don’t end up going with them, you may learn a lot in the process about what type of coverage you really want.
Know exactly what is covered and what isn’t before you buy a policy. Also ask about the claims process so you know what to expect in case you need to file a claim. It’s best to understand as much as possible about the coverage before you make your decision.
One of the more daunting tasks a business person can face is determining what commercial insurance is required to provide financial protection against the perils that can destroy a commercial enterprise. A good first step is to have a basic understanding of what commercial insurance is and the lines of insurance that make it up. Obviously the business owner will need to seek the services of a commercial insurance broker or agent, but it might help sorting through the broker or agent’s advice if a basic understanding of commercial insurance is acquired ahead of time. This article will provide a brief introduction to commercial insurance to steer the interested business person in the right direction to learn more or to have a general idea ahead of time before meeting with a broker or agent.
Commercial insurance is referred to in two main parts, property insurance and casualty insurance. Think of property insurance as protecting your financial investment in the real property required to keep your business running. There are obvious perils like destruction or damage to buildings against which financial assurance is needed but less obvious items like inventory or supplies or personal items for employees that are required for conducting business – if these get destroyed, even if the building is intact enough, a business could still get in trouble fast. What if critical inventory gets destroyed or damaged during shipment to your facility? This is another example of the myriad details to think of when considering protection for the real property of a business.
Casualty insurance is financial assurance for the business itself. In other words, there are perils that might not affect your real property but just like real property destruction, can destroy your business just the same. For example, do you run a transportation business where you are liable for the secure, safe and reliable transport of goods? If that’s the case you might need to get commercial trucking insurance. Could your business withstand a court’s decision holding you liable for injury or death of people you might be transporting as part of a limousine service? If your building is destroyed, do you have the money for the additional expenses for a temporary location, office setup and personnel relocation to continue to conduct business?
In summary, start thinking in terms of real property loss, your potential liabilities, and recovering your business operations to start understanding the specific perils that you need to insure against through the right commercial insurance offerings.
Product liability insurance can protect your small business in the event that a person becomes injured or ill from using one of your products.
When considering product liability insurance for your small business, it is essential to choose a policy that allows you to avoid liability in the event that someone gets hurt or becomes ill from using one of your company’s products. Manufacturing companies are often particularly vulnerable to these types of issues, and small business are often even more at risk, since it can be difficult to absorb the impact of expensive litigation. Product liability insurance is a great way to protect your business. Don’t forget you can also buy one day car insurance that will also protect your company should you need it.
Manufacturers are often legally liable for property damage and bodily injury that results from using one of their products, so be sure to know exactly what your product liability insurance covers, because some instances may fall outside of the range of coverage. In addition, the amount of coverage you need will depend on the size and nature of your small business, so consider the inherent danger present in your products and compare the insurance coverage used by your competitors to get an idea of they type and amount of coverage you need.
Since these issues can get to be quite complicated – for example, if one company manufactures the product, another assembles it, and yet another company’s name is on the product – it is typically advisable to discuss the matter with your attorney in order to determine the appropriate amount of product liability insurance coverage for your small business. In addition, even if your product is considered ‘high-risk,’ there are specialty insurance companies that can help you get the coverage you need, so shop around until you find a company that can meet the unique needs of your small business. Since lawsuits and liability can be extremely expensive, it is well worth the time and expense to completely research the topic – before you ever need to use it!
The big question you need to address concerning your children and dental care is – does your current dental insurance plan cover orthodontic care such as braces for your kids?
Unfortunately most people are unaware that they do not have adequete coverage. Most assume that their dental plan will naturally include a provision for orthodontic care but that is not necessarily true.
Orthodontic Care For Kids – How Much Do Braces Cost?
Typically the average costs will vary from $3000 upwards to $10,000 or even more in extreme cases. We found that the most expensive costs for braces for children tended to be in the major cities such as Los Angeles , Chicago and New York.
While costs seem to be expensive, it must be considered that your child will visit the dentist (or orthodontist) approximately 50-100 times on average during the course of their fitting of braces, so this is why the cost appears to be so high.
Cheap Orthodontic Insurance for Children
Taking out a dental plan can actually save you money in the long-term. It is typical to save 20% on the costs of braces and other types of dental treatment that your child may require by taking out a policy.
Plus, it isn’t purely about getting cheap insurance or saving money it is all about making regular payments so that when your child needs urgent dental treatment, that there is no question of not being able to afford and take care of your children.
When kids need to visit the dentist and they are in great pain, the last thing that you want is the stress of concerning yourself if you are able to pay for any treatments and operations and expensive ongoing visits.
By taking out a regular payment plan and making sure that you have adequate coverage for your needs, then you will be safe in the knowledge that should any emergency situations arise your children will be well looked after.
Typically, orthodontists will not cut their fees because of the all the costs they have to pay. They must account for the cost of their equipment, materials, sterilizers, and malpractice insurance. Orthodontist offices also need to pay rent and staff salaries. Most of the fee for orthodontics goes toward paying these operating costs. Occasionally, however, an orthodontist will consider lowering his prices for patients who sincerely cannot afford to pay, but these reductions are rare. You can also ask your orthodontist about paying in installments, as many orthodontists allow this. You could also sign up for insurance to help cover the costs, or turn to an affordable discount dental plan, which can reduce the cost of braces by 20%.
For those that may require any other procedures, regular dental insurance proves to be inadequate. With the specialized cover however, the processes are made more affordable to the patient. As with any other insurance coverage, the client is required to pay a premium at the end of every month or year in order to keep their cover intact. This allows the insurance company to step in and foot a certain percentage of the bill with regards to the clients’ oral health.
Orthodontic coverage is an excellent idea due to the expensive nature of the equipment to be purchased and the process itself. In most cases, patients take out regular dental insurance that gives a coverage of up to 1,000$ per person per year. This means that should they be in need of any other dental work then it is essential to take on extra insurance.
This cover is important especially to those that may require retainers and even minor surgery. The protection gives the patient peace of mind while giving them the opportunity to correct any dental defects they may have. This type of coverage is good for those that are in need of one or more visits to the orthodontist through out the year. The cover makes the entire procedure inexpensive and accessible to patients that may have had to suffer in silence were this not a viable option for them.
Although some of the procedures may be considered cosmetic, it is up to the patient and the orthodontist to decide if the procedures are necessary and the best way to go about fixing the problem. This form of orthodontic insurance cover for children can be taken out well in advance even before the procedures need to be done. This will ensure that come the day of treatment, the patient is adequately covered.
If your believe that your children will need braces in the future start now by searching for a comprehensive dental insurance plan to help offset the costs of orthodontic care which is mostly very costly.
People often forget that when they get a regular life insurance plan, they may not die within the term that they are covered. Not that it is something people always want to think about, yet the actually reason for purchasing life insurance is to protect those that you leave behind. If you policy runs out before you do, then the protection is lost.
When that happens, the premiums that you had paid all go to the insurer. The money has not been wasted, of course as you were covered during the time frame. But why spend when there’s a chance that you may not eventually enjoy it?
Get it All Back
If you’re planning to get insurance protection, you have another option — you can get a full refund of everything that you had paid should you still be alive at the end of the contract period!
It’s called Return-of-Premium (ROP) term life insurance. It provides all the advantages of a regular plan plus a winner-take-all twist at the end.
Hold it!
Before you run and get an ROP plan, you should know that it could be very expensive – premium payments can reach up to 50% higher compared to a regular term insurance plan which is usually very cheap.
On top of that, you have to keep the policy-and pay the hefty premiums-for the entire length of the contract period, which can range from 10 to 30 years.
Finally, the money that you will get back could decrease in value due to inflation over the years.
Win-Win-Position
The strongest argument for getting a Return of Premium term life insurance plan is the fact that living or dead, you and your family will get something!
Think of the 20% to 50% additional premium as a savings deposit which you can withdraw later on. That’s on top of the insurance protection that you and your family are getting. It’s like hitting two birds with one stone. There are several policies to choose from when it comes to adding a return of premium rider- one of the more popular options is the mortgage life insurance policy that covers the amount of your home loan for a certain period of time.
Insurance is the foundation of a sound financial plan. And getting an ROP insurance plan puts you in a win-win financial position: Your family wins protection should you die; you win a windfall should you live.
