Have you ever wondered what events and items might not be covered under your homeowner’s insurance policy? Here are some common exclusions, meaning, they are usually not considered a covered loss and the insurance company will not pay for the damages. Loss due to ordinance or law regulating construction, repair or demolition. Earth Movement means […]
How are loss settlements determined by insurance companies? Actual Cash Value (ACV) means the cost of repairing the damage, minus reasonable depreciation (wear and tear, deterioration and obsolescence). Replacement Cost (RC) means the current cost, at the time of loss, to repair or replace the damaged property with new materials of like kind and quality, […]
Insurance is designed to transfer the financial impact of a loss from an individual or company to an insurance company. In exchange for the protection (agreement of indemnification) of the insurance company, an insured must pay premiums. Property and Casualty Insurance Contracts are indemnification contracts. Indemnification means to restore a person to his or her […]
How might a business benefit from different types of Disability insurance policies? Buy-Out, a.k.a. Buy-Sell, is an agreement to buy out the interest of a partner or a persons’ interest in a firm, following a disability. A Disability Income policy would fund the buy-out agreement. Disability Buy-Sell coverage can be designed to provide benefits to […]
How is a Flexible Spending Account different from a Health Savings Account? Flexible Spending Accounts (FSAs) allow employees to be reimbursed for medical expenses. FSAs are usually funded through voluntary salary reduction agreements with an employer. No federal income taxes are deducted from the employee’s contribution. The employer may also contribute. The benefits of the […]
Beginning a new career, whether it’s your first time out, or your second or even third endeavor in life, is an exciting, electrifying time. Beginning a new career as an insurance agent is no different, however it can also be a bit overwhelming, too, as you adjust to the demands of the industry and the […]
This post has been updated with new information on 6/29/15. EXAM REGISTRATION The current exam company, Pearson VUE, will continue to accept reservations and will provide the insurance producer exams through Saturday, June 27, 2015. If you would like to schedule your exam date for July 1st or later, you will need to contact the […]
A good goalie can almost sense where the puck will come from and stop it. A good auto mechanic can tell by the sound of the engine where the problem might lie. And a good cop knows when a suspect is lying in the interrogation room. These qualities make them good at their respective jobs. […]
What is a Health Savings Account (HSA)? A Health Savings Account lets qualifying individuals save and pay for medical expenses using money that is tax deductible. As long as it is used for qualified medical expenses, the money also stays tax free when it is withdrawn. There are annual contribution limits. A health savings account […]
When it comes to taking your insurance certification or continuing education classes, today’s high tech world gives you two choices. You can participate in a traditional classroom with fellow students, or go it on your own with an online option. There are benefits to both, and which one is right for you will depend on […]