Benefits of Getting Insurance The biggest benefit of having insurance of any kind is the peace of mind that comes with it. When you pay for insurance you are transferring part of your risk to the insurance company. For example, when you pay for health insurance, you are transferring the risk of someone in your family becoming sick or injured to the insurance company. They, in turn, will help pay your bills. The cost you pay for insurance...more
If you are a business owner with a warehouse that stores your equipment or products it is essential that you have adequate insurance in case something should happen such as a fire or flood. There are several horror stories out there that should bring you round to the idea.A warehouse that was used as part of business to dispose of waste for the catering industry was destroyed in a fire in April 2010. Around 600,000 of stock was destroyed and when...more
Mortgage companies depend on mortgage insurance in order to safeguard themselves from defaulting mortgage borrowers. In case a mortgage buyer finds they are unable to make the payments, then the insurance company pays to the mortgage company. Mortgage companies buy their insurance from insurance providers and pay premiums on the same. These premiums are then passed on to the buyers of the mortgage. They may have to pay for the premiums on an annual, monthly or single-time basis. The insurance payments are added to the monthly payments of the mortgages. Mortgage insurance policies are also known as Private Mortgage Insurance or Lender's Mortgage Insurance.Usually, mortgage companies need to be insured for all mortgages that are above 80% of the total property value. If the mortgage buyer makes a down payment of at least 20% of the mortgage value, then the company may not require an insurance policy. But on an average basis, most of the mortgage buyers cannot afford to pay 20% of the down payment, and hence most mortgage companies require insurance, and these insurance premiums increase the monthly payments of the borrowers.Thus, the mortgage lenders get to choose their insurance...more
Life insurance is an essential factor in everyone's life and especially for the ones having a family relying on their income. Even in some instances where the family is not dependent on your income, it can still be a good idea to take such insurance to help them cope with the highly upsetting and difficult event of your death. However while we all...more
A sole income provider with a large family and sudden death, nothing can go worse than that. Beyond this life is imaginable. A family leading a decent life may have to fight hard to survive especially if you were the bread earner of the family. You never know when you might die, so it becomes important to have a Canada life insurance policy that...more
Questions to Ask Your Small Business Insurance Agent When Purchasing General Liability Insurance Commercial General Liability Insurance is one of the most commonly purchased types of small business insurance. But many small business owners still have lots of questions about what it is, why it's needed, and how it works. Here are answers to the top five questions we hear from our small business clients about general liability coverage.1. What does general liability insurance cover?General liability insurance covers claims of bodily injury or other physical injury or property damage. In the event of a covered lawsuit, such policies will typically pay for a legal defense as well as compensatory, general and punitive damages.A typical general liability insurance policy covers:- Bodily injury and property damage liability: If a visitor is injured on your premises, or you or your employee injures some or damages property on your client's premises.- Personal and advertising injury: Certain offenses you or your employees commit in the course of your business, such as libel, slander, disparagement or advertising copyright infringement.- Medical expenses: Applicable medical costs if...more
Life insurance for many people is something of an enigma. There are many different companies offering BMO life insurance, TD life insurance and CIBC life insurance to name a few, but many people do not agree the sentiment of needing money after your...more
How personal bankruptcy impacts your life insurance policy By Dawn Reiss, Life Quotes, Inc.Filing for bankruptcy is usually person's worst nightmare, but when it comes to protecting your assets (including the value of your life insurance...more
Every person has his own idea of what a full commercial truck insurance coverage is. We become idealistic especially when we know that our life and our investment are involved. We are under the impression that when we say full coverage it will take...more
There are many different types of insurance available, the idea being that you make small monthly payments to cover a situation in the future that could happen and cause a situation of loss. One example of loss could be damage to a motor bike, a car...more
"Fun is like life insurance; the older you get the more it costs"Kin HubbardWe have all heard about the importance of rupee cost averaging when it comes to investments but very rarely do we realise that the concept can and should be used even when...more
Unemployment insurance is available in a wide range of options with various different costs and benefits. Some applicants will choose just to cover their mortgage repayments and important household bills, while others will opt for a protection option...more