Money Ideas

Renters insurance is one of the most commonly overlooked types of insurance, when if fact, it’s a necessity for anyone renting a home, duplex, townhome, condo, loft, studio or apartment. Many people don’t even give it a second thought though, because it’s not always required. A large portion of the population doesn’t even realize how important renters insurance is. Many people seem to think that, when they rent, their landlord’s insurance will cover their property. Unfortunately, this is not the case. If you’re robbed, or there is a fire, or some other damaging event, in which your property is destroyed, you will be completely out of luck if you don’t have renters insurance. The landlord’s insurance only covers the building itself. Make sure you protect your jewelry, TVs and other high valued items with a renters insurance policy. If you’re not covered you’re going to have to replace all of your property, out of pocket.

Another thing people commonly forget about is liability. Did you know that you are 100% liable if somebody comes over to your place of residence and hurts themself? If that person does not have health insurance, they can sue you to pay for their medical bills. All renters insurance policies include a liability portion that protects renters from this type of incident. The minimum coverage is usually around $100,000.

Right there I just gave you two great reasons to buy renters insurance; Your property is not covered, and you’re liable if somebody gets hurt, while under your roof. Here’s something else that most people don’t know about renters insurance: It’s one of the least expensive types of insurance out there. Most people can get a policy, to cover them, for around $15 a month. Some people can get coverage for $5 per month, while folks with lots of high valued items can pay as much as 40$ per month. If you live with roommates, split that two or three ways. There’s really no excuse not to have renters insurance. If you don’t have renters insurance now, you need to go out and get it, before it’s too late! You never know what could happen tomorrow. Anyone who has a renters insurance policy will tell you that the $15 a month is well worth the peace of mind you’ll get. On top of everything, if you bundle your renters insurance with your other insurance policies you can usually get additional discounts as well.

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A structured settlement can be beneficial to a claimant in many ways. There are times however when claimants have no other choice but to sell them. Selling structured settlements is a tough decision and entails letting go of all its benefits. If ever that point comes, here are a few tips to help you with it.

Before anything else, think long and hard – are you really going to sell your structured settlements? Structured settlements are highly advantageous because it provides a lifelong financial support. If not a lifetime, it could last you several years depending on the agreement. Handing over any leftover payout to an heir is also possible even after death. Once you sell them in full or partially, the benefits you will receive will be gone or reduced drastically.

Besides, selling structured settlements will only get you a portion of their actual value. If you have a settlement worth $200,000 for example, companies may offer you $150,000 at most to get them leaving you $50,000 short. The reason why you need to know all of these is so that you will be aware of its consequences.

Another tip for selling structured settlements is to know their benefits. Just as you are aware of its consequences, you should be equally aware of what it can get you. Even though selling it will get you an amount smaller than its value, do note the time it will take to get you that same payout if you just complied with the settlement. A $150,000 one time payout may be a rip-off from your settlement’s $200,000 value but that lump sum could take decades to acquire if you merely complied to the agreement. Decades may be time you don’t have for an immediate financial need. Whenever you bump into a financial crisis that requires you to shell out a large amount of cash, selling your settlement could help you. This scenario is an example wherein benefits outweigh the consequences of an action.

Lastly, try not selling structured settlements in full. If possible, only sell a portion of it depending on how much money you need at the moment. By selling them partially, you can suffer from less setbacks and still be able to enjoy the benefits of structured settlements. For example, you can sell just $50,000 worth of settlements to pay a debt of $30,000 and have the remaining amount continually given to you in the form of structured settlements.

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Finally reaching the driving age is an exciting time in a teenagers life, and a nerve-racking time for their parents!  It can be expensive insuring teenage drivers.  Here are some tips to keep teens safe on the road and may lead to lower insurance rates!

Focus on the Road

It is absolutely essential to focus on the road at all times while driving.  It seems obvious, yet it is something difficult to do, especially for new teen drivers.  There can be all kinds of distractions; the radio, passengers, phone calls, and even the pure excitement of being out on the road the first couple of months.  No matter where teens are driving (home from dinner, to a friend’s house, etc.), getting caught up in their favorite song that’s playing on the radio is always a possibility. This isn’t to say teens need to ignore their friends or drive in complete silence—just pay attention and focus!  Teenagers need to have the courage, if they are getting distracted, to kindly tell their friends that they need to concentrate on driving to ensure everyone gets to their destination safely, or maybe change the radio station or turn it down.

Avoid Technology while Driving

There are so many technological devices that can cause distractions these days; cell phones, GPS devices, satellite radio, ipods, etc.  Having these devices in the car is absolutely fine.  It’s how they are used while driving that makes the difference.  Don’t text and drive!  Don’t read texts and drive!  Don’t flip through the music library and drive!  Those things can wait, all of them.  Looking down for even a second could be the difference between getting into an accident and arriving safely.  You never know what the people around you are going to do.  It happens that fast.

Recognize Hazardous Situations

Learning to recognize hazardous situations is crucial to a teen driver’s maturity. Teens have little to no experience driving, and chances are they have not driven in all situations.  Snow is an obvious one.  It takes practice and knowledge to be able to drive in the snow, and sometimes that’s not even enough.  Rain can also be hazardous.  Floods can happen in seconds and cars can hydroplane instantly.  Pull over and wait for it to calm down or pass.  Winds, ice and hail are also hazardous situations you want to avoid.

These are just basic tips, time and experience will make all the difference in ones driving ability.

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