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Tips for Purchasing Home Insurance

Always ask yourself the questions: If your home is demolished, or your valuable possessions are stolen, can you afford to replace them? For most of us, the answer to this question is “no.” One way to be sure you can replace what’s most meaningful and valuable to you is with home insurance. When you are searching for homeowner’s insurance in Tampa Bay, it helps to consider the following four main factors of homeowners insurance:

Premium: The premium is the amount per month you pay for coverage. Some policies give you a yearly quote, while others break it down by month. Whatever you choose, be sure you can afford your premium.

Deductible: Your deductible is how much you have to pay out of pocket when you file a claim. If the damage to your home or the cost of stolen property exceeds your deductible, the insurance should take care of the rest. Be sure your deductible is affordable, for example; a lower deductible may mean higher monthly payments.

The Specific Coverage: Market value and replacement value are two kinds of homeowner’s insurance. Replacement value covers the cost to replace your current home. Market value pays you the cost of your home’s worth on the open market.

Discounts: You may be eligible for discounts on things like installing a security system, but this depends on your policy.

Exclusions: Make sure you find out if your policy covers such events as floods and earthquakes. If you live in a hurricane-prone area, it pays to know what policies you should buy to protect your home.

Buying Long-Term Care Insurance

As the baby-boomer population grows exponentially, the availability of long-term care insurance has grown in popularity. When you pay for your long-term care you won’t have any surprises that lead to dismay and confusion when you reach the age at which you need assistance—be it at home or in an assisted living facility. When you pay for a long-term care policy, you can enjoy peace of mind and lose the level of stress that comes with not knowing where to go in the event you need to make a quick decision.

It’s thought that the best time to buy long-term care insurance is when you are in your 50s. Rates tend to increase by nearly 10 percent once you reach your 60’s. The following are some additional tips to consider when you are searching for a long-term care insurance policy:

  •  Design your own policy depending on whether or not you want to be in a nursing home, assisted living facility, or in your own home.
  • Ask about exactly what your long-term insurance covers. For example, are hospitalizations or hospice care covered?
  • Find out what the exact levels of reimbursement are per day and for covered charges.
  • Research the nursing homes and assisted living places in your location of choice and find out if they are covered under your long-term care policy.

Contact us to find out more about our policies available for long-term care. We serve customers located throughout the Tampa Bay area. If you need any kind of insurance in Brandon or any of the Tampa Bay area, contact All Star Insurance at 813-689-7767.

 

The Importance of Life Insurance

Life insurance is beneficial for a number of reasons, the least of which is to use it as a vehicle for investment purposes. The real purpose of a life insurance policy is to provide for those who depend on you in case you should you die unexpectedly. The older we are the more it makes sense to have a solid life insurance plan. Depending on the kind of policy you choose, life insurance is affordable, which allows you to get the coverage that fits into your budget.

You want to protect your loved ones with peace of mind when it comes to financial support. If you have young children it is extremely important to provide enough money to cover the costs of the day-to-day household tasks, such as cleaning, laundry, cooking, and childcare. Also, you might want to leave an inheritance to your heirs by buying a life insurance policy and listing them as the beneficiaries. This is an affordable and efficient way to set them up for a solid financial future and provide for their monetary needs.

Other benefits of life insurance include helping your family to pay off debts, covering the costs of your funeral and burial expenses, paying off a mortgage or car loan, and more. When you need any kind of insurance in Brandon or any of the Tampa Bay area, contact All Star Insurance at 813-689-7767.