Category: insurance

What Is the Average Cost for Homeowner’s Insurance?

One of the first things most people consider before buying a house is the cost of homeowner’s insurance. After all, your mortgage is only the tip of the iceberg. You’ve also got to pay for maintenance, taxes, homeowner’s association fees, and the dreaded insurance.

National Averages for Homeowner’s Insurance

The average cost for homeowner’s insurance on a national level was $674.23 in December 2010, according to Keep in mind, however, that the numbers change on a regular basis.  If you know about all the factors that are necessary to calculate house insurance then you can do this on your own as well. There is that can help you with along with some of the best tips for house owners to reduce their insurance premiums.

State Averages for Homeowner’s Insurance

The real question, though, is what is the average cost for homeowner’s insurance in your particular state. The answer can vary widely. For example, the average in Missouri is a whopping $911, while Maine residents pay an average premium of only $461. The more specific you get, the more accurate your estimations will be.

You might be surprised by the average cost for homeowner’s insurance in your state. I thought that California would be right up there in the highest averages, but in reality, it’s only $788, which is lower even than Texas’s average at $878. Then you’ve got Idaho, whose average is just over $350.

It also helps to look at the trends for the average cost for homeowner’s insurance. Some states, such as Texas and Connecticut, are decreasing as the months go on, while states like Georgia and Nevada are increasing their rates.

Other Factors to Consider

Although the average cost for homeowner’s insurance in your state might help you get an idea for what you’ll pay, your actual premium may be much higher or lower than that average. Other factors come into play, and you can’t rely on estimates based on generic data.

For example, if you buy a house in a flood plain, you’re probably going to pay quite a bit more for homeowner’s insurance. The same is true if you live in an area where tornadoes, hurricanes, tsunamis, earthquakes or wildfires are likely to become a problem.

And don’t discount the characteristics of the home you eventually purchase. How old is it? Has it been inspected? Are the appliances up-to-date? What about the plumbing and electrical wiring?

You might want to buy a home where you will have to pay more in homeowner’s insurance, but where the taxes aren’t quite as high as other areas. Remember that the costs of homeownership can balance out, so try to look at the big picture rather than using just one factor to make your decision.

Don’t even consider putting in an offer on a home until you talk to your insurance agent. You might be able to better choose between different candidates if you know how much you’ll be paying in annual premiums.

What Really Causes Insurance Rates to Change?

Determining fact from fiction can be tricky when looking at auto insurance. Rumors can sound true, especially if you have experienced them yourself. However, what may seem like a fact to you may really be a myth. Car insurers take many factors into account when increasing and decreasing rates. Coincidences can happen and very often result in the myths we’ve all come to believe.

One Speeding Ticket Increases Premiums

This one can be true; however, it usually takes at least two speeding tickets for your rates to increase. Another factor that is considered is how far over the speed limit you were going. Five miles over will not increase your premium, while twenty miles over may very well raise your rates.

An auto insurer normally allows the first speeding ticket to pass without punishment. However, a second ticket leads your auto insurer to believe you’re a dangerous driver and more likely to cause an accident. This is what leads to premium increases.

Rates Are Determined Based On Car Color

This one is false, even though it may seem true. Think about the last time you purchased insurance. Did they ask for color? No. So where does the color myth come from? Certain color vehicles are more popular than others. For instance, red is a popular color. The more red cars on the road, the more likely a red car is to be in an accident or pulled over for speeding. The same would hold true if the color was green, yellow, brown, or any other color.

Certain color cars only have higher premiums if they are in accidents or have multiple speeding tickets. The best way to prevent higher insurance rates for popular color cars is to be careful and drive the speed limit to avoid becoming a statistic.

Auto Insurance Isn’t Regulated

Despite how it may seem, auto insurers are actually regulated. The regulations may still not be enough for most car owners, but regardless, regulations are in place. Each state has its own set of regulations for auto insurers, so rates vary from state to state. Before any increases occur, they must be approved. If increases occur before approval, owners may receive refunds.

Regulators must review all insurers and the way they calculate rates. In order to stay in business, insurers must meet the regulator’s approval.

You’re Not Responsible for Other Drivers

As unfair as it is, you can be held responsible for anyone driving your car. Obviously, this isn’t the case if your car is stolen. However, letting a friend or family member borrow your car is the same as driving it yourself. The owner’s auto insurance is considered the primary policy and must pay for any accidents. The only time the friend or family member’s policy will cover costs is if your policy doesn’t cover all the costs incurred by the accident.

Car Insurance Rates Are Cheaper at Age 25

Rates are higher for younger and older drivers simply due to inexperience and health issues. The reason rates seem to decrease around age 25 is due to the driver’s experience. By the time a driver turns 25, they are usually past the age of fast and reckless driving. As a driver becomes more experienced and careful, their rates will drop. The link between age and rate depends solely on how clean a driver’s record is.

Anytime you have a question about car insurance myths, talk to your insurer or research the myth before placing blame. Many myths are just coincidence. Auto insurance rates fluctuate due to health, accidents, speeding tickets, location, and driving distance. By looking at common myths, you can see how these factors are the real reason behind rate changes and not they myths. So what are you waiting for now? Go now and get a prestige vehicle insurance with laplayainsurance and experience amazing benefits and get great deals.


Do Stay At Home Moms Need Life Insurance?

Are you a stay at home mom? (Or perhaps a stay at home dad?) Are you wondering if you really need life insurance? Stay at home moms definitely need life insurance. Even though they do not earn an income for the family, it is crucial that there is life insurance in the event that a tragedy were to happen. Here are five reasons why stay-at-home mothers should purchase life insurance.

Reason Why Stay-At-Home Moms Need Life Insurance #1: Your spouse will have extra bills to pay should you die.

While you do not earn an income now, your services to the family are priceless. Should you tragically die, your spouse will then need to pay for child care. Child care alone can run hundreds of dollars a month. Even when you children become school age, they will probably need some sort of care in the summer and on holidays.

Also, if you provided most of the cleaning for the home, your husband may become overwhelmed upon your death and need to hire some help. That too, could mean hundreds of dollars a year.

There are additional costs that could arise as well, such as running errands, etc. In addition, if you have a talent for budgeting and coupon clipping, your spouse might not be able to keep up with your frugal living skills, therefore causing an increase in the family budget.

Reason Why Stay-At-Home Moms Need Life Insurance #2:Your spouse could become disabled.

Let’s say you died in a car accident. And, your husband was in the car with you. He did not die, but became severely disabled where he cannot work. Even if he does have some disability insurance, it might not be enough to live at the same lifestyle as before. If you have life insurance, the money could be invested into a trust fund for the family to help with the cost of living. It is also possible, although rare, that your spouse could become disabled after your death.

Reason Why Stay-At-Home Moms Need Life Insurance #3:Life insurance can make up for income you would have earned later in life.

The majority of stay-at-home moms do not stay at home forever. Many return to work when their children are older, or leave for college. Their income can then help pay for retirement, kids college expenses, repairs on the house and more. If you become deceased, your family will lose that possible future income. Purchasing life insurance could mean the difference between your child going to a good college or not, and whether your spouse will be financially secure for retirement.

Reason Why Stay-At-Home Moms Need Life Insurance #4:Life insurance could also pay for additional expenses that result from your death.

Your children and your spouse might have a very difficult time coping with your death. They might need extensive grief therapy / counseling. Most insurance plans do not cover mental health treatment, or if they do, it doesn’t cover alot. This could mean thousands of dollars a year for the family.

In addition, funerals are not cheap. They can cost $7500 or more. If you’re a stay at home mom, there’s a good chance that you don’t just have $7500 laying around that won’t hurt the family budget. Purchasing life insurance will help pay for your funeral and burial expenses.

Reason Why Stay-At-Home Moms Need Life Insurance #5: Life insurance can help out your future grandchildren and great-children.

Do you see yourself as a Grandmother who never forgets a birthday or Christmas present? Would you like to give your grandchildren a nice wedding gift? You spouse might not be able to afford it, if he is retired and living on a fixed income. Your life insurance could be put into a trust fund to help out your future grandchildren with college expenses and such.

These are just five reasons why stay at home moms (and dads) need life insurance. For more details on life insurance, please read “Reasons to Get Life Insurance: Why You Should Buy Life Insurance Now.” Hopefully your life insurance will never be needed or used. But it can offer peace of mind and is a necessity for stay at home moms.

In conclusion as a stay-at-home mother you do need life insurance as well. You can look for life insurance providers uk to know what companies are offering you and what is your best option among them.