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Article #8: Learning About Insurance- Part 2

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At the end of Part 1 I said I would those who don't have it through work is a
discuss some good deals you can get in short-term disability policy. This covers
insurance and this is what I intend to do you if you are out of work for any length
in this section. No bargains can be found of time and can't make any money. Anyone
in the "must have" type policies, like looking to start a family should have
auto and home insurance. But there are this because while the new mom is home
some policies I highly recommend. with the baby she can get paid while on
The first type of policy I recommend is maternity leave. This type of policy is
an umbrella policy. This is a policy that becoming more and more popular as
covers you for personal liability. employers are looking to cut costs by
Depending on your insurance company you reducing benefits.
can get a $1,000,000 umbrella policy for My wife had a short-term disability
as little as $200-$300 depending on what policy because the school system she
you are covering. This is usually for 2 works for does not offer STD benefits. We
cars and one home. Once you add more cars pay roughly $75 month for the policy that
and additional houses the premium goes will pay her just under $3000 for a month
up. Hopefully you never need to use this out of work. As long as you can get a
type of policy but in this country, where doctor's note saying you should miss work
people file law suits for spilling hot you can receive a predetermined amount of
coffee on themselves, you need to protect money for up to six months. After six
your assets. If you do get sued wouldn't months you will need a long-term
it be nice to know you have a million or disability policy. Let me tell you, this
more in coverage for a couple hundred money came in handy when our daughter was
dollars a year? born.
In some cases an umbrella policy can save Most people will say they don't need this
you some money. How? Some people type of policy but I think it is a
understand the importance of having the bargain. We have actually made money on
proper amount of coverage. Instead of this policy because we have had it 3
having an umbrella policy they add more years and it has cost us $900 per year.
liability coverage on their auto policies We have made one claim, when my daughter
and home policies. For example, you can was born, and we got $3000. Unless you
get an umbrella policy if you have $100K commit fraud you cannot make money on an
in liability coverage on your auto and auto or home policy.
home policies. Some people carry $250K in I think I have shown you two bargains as
coverage on their auto. The cost of far as insurance goes. Anyone with
increasing from $100K to $250K is usually something worth taking should have an
as much, if not more, than having the umbrella policy. Anyone that is not
umbrella policy. So, these people carry offered STD benefits through their
only $250K in liability coverage for the employer should have this type of policy.
same price, or more, than someone with an In part three of this series I will
umbrella policy and $1.25 million in discuss homeowner insurance in more
coverage. detail, don't miss it.
The next kind of policy I recommend to






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