Insurance Articles

SmartFinancial is here to offer advice and assistance on any of your tough insurance questions.

Auto Insurance

7 Tips on What to Do After a Car Accident

Whether it is a minor car accident or if it is a major collision with both cars totaled, you need to take some action. If it is your fault, you might be struck with panic and think that running away from the situation is the best thing to do. Don’t do it. You need to stay at the scene of the car accident.

Auto Insurance

7 Tips for Defensive Driving

Driving defensively isn’t about driving slower than the speed limit. In fact, if you drive slower than the speed limit, you may get a ticket because you can cause accidents by resisting the flow of traffic. The idea behind defensive driving is to prevent an accident before it happens. Share our safe driving tips with younger drivers when you can. As easy as they seem, these pointers can save lives.

Commercial Insurance

Do Yoga Teachers Need Business Insurance?

Yoga can be pretty intense, often because new clients come to class expecting a very relaxing experience only to find themselves challenging muscles they hadn’t used in years and didn’t expect to use during your class! Sometimes, students who are advanced in their yoga practice (and should know better) pose the highest risk because they challenge themselves to the point of injury.

Renters Insurance

How Does Renters Insurance Work When I Need It?

You may not remember everything that got destroyed and you won’t be compensated for it either. Think about what kind of damage a really bad water leak or fire will do. Your things may become unrecognizable and you may not list everything properly when you start the claims process. Or worse yet, what if the insurance company requires proof of ownership?

Commercial Insurance

Catastrophy and Setbacks: How Do I File a Business Insurance Claim?

Business insurance is no different from any other line of insurance: It’s in place to protect you. There are countless ways you may experience a blow to the business you’ve so carefully grown over the years. General liability insurance is designed to cover expenses that result from unexpected losses.

Auto Insurance

Pros and Cons of Online Insurance Platforms

As we become increasingly reliant on digital technologies, consumer experience will revolve around convenience even more. This includes insurance companies, which are hopping on the train with online platforms, appealing to the convenience factor. You can now access multiple car insurance quotes online!

Auto Insurance

Who Is Covered by My Car Insurance?

Often, the people in your household will affect your car insurance rate if they are not excluded so check your policy jacket and declaration page to make sure you are clear before you hand over the keys. Excluded individuals will not be covered by your car insurance if they have an accident.

Home Insurance

Closing Costs: How Much Does it Cost to Buy a Home?

Mortgage payments and possibly a homeowners warranty aren’t the only costs of owning a home. Nope, it doesn’t end with taxes and homeowners insurance either. Most people who set out to buy their first home are in for a surprise when the closing date approaches and they learn that they owe all sorts of money for the house they just bought.

Renters Insurance

Renters Insurance: Who Really Needs It?

Very rarely do people not own at least a couple of thousands of dollars worth of stuff so why not get that money back if something unforeseen happens? While you may think of being a renter as a more relaxed and responsibility-free existence in comparison, you should think about how much your belongings would cost to replace.

Health Insurance

Retirement Life: How Much Do I Need for Medical Expenses with Medicare?

A 65-year-old retiring in 2019 will spend about $135,000 to $150,000 in out-of-pocket medical costs during their retirement. This astronomical figure has gone up about $2500 since last year. Of course, these costs would be higher if you have an existing condition or if you live longer than the average American.

Commercial Insurance

Insurance Requirements for a Restaurant Business

There are people rushing around cooking (fire, flying grease, spills, etc.) while servers and waiters run back and forth (and possibly into each other) from the kitchen to various tables. The bartender, meanwhile, is serving folks lots of booze in very breakable bottles and delicate glass. And remember, food is not only perishable but can be toxic if it’s accidentally served after its shelf life has ended (yes, it’s happened to the best restaurateur).

Life Insurance

8 Tips for Choosing a Life Insurance Beneficiary

There may be a handful of people who will be directly affected by your passing so it’s good to know that you don’t have to pick one over all the others. You can choose a few people easily. You also don’t have to pick only your spouse.

Home Insurance

Homeowners Want to Know: What Is Dwelling Coverage?

According to the dictionary, a dwelling is a house, apartment or any other place of residence. So, it only follows that dwelling coverage on your homeowners insurance refers to the main structure (i.e your home, not the shed). With that said, sometimes other existing structures (shed or a garage) are covered. Confused?

Auto Insurance

Does My Education Affect My Car Insurance Rate?

In short, if education is to your favor, use it to your advantage. If it works against you, make sure it’s not a factor in determining your risk. It may take a little more footwork, but if you’re working with a company like Smartfinancial, shopping for an insurance agent is easy.

Auto Insurance

Will My Credit Affect My Car Insurance Rate?

Your credit score is a number that falls between 500 and 900, to determine how stable you are financially, if you pay your bills on-time and if you’ve overextended your credit line. Most insurance companies use credit scores to determine risk. According to their complex algorithms, there seems to be a correlation between low credit rates and the likelihood of filing a claim.

Renters Insurance

4 Things You Should Know Before Choosing a Renters Insurance Deductible

Really, the best way to determine which policy is right for you is to see how often you think you may need to file a claim. Because an expensive deductible is more difficult to pay, you should not choose the highest deductible if you know you’re prone to break-ins or if the apartment complex you live in is poorly maintained (a faucet leak upstairs from you may destroy all your property).

Health Insurance

8 Things You Should Know About Your Healthcare Deductible

Like auto and homeowners insurance healthcare insurance also has a deductible which needs to be paid before insurance begins to cover expenses. However, healthcare deductibles work a little differently. For instance, your healthcare insurance will pay for some services even before you meet your deductible.

Home Insurance

5 FAQs About Homeowners Insurance Deductibles

The higher the deductible you choose, the lower your monthly payments (premium) will be. However, it’s important to choose your deductible based on what you can afford to pay. With that said, you’ll want to go with the highest deductible you can afford while avoiding filing claims when possible.

Auto Insurance

6 Smart Ways to Choose the Right Auto Insurance Deductible

Keep in mind that you can change your deductible amount at any time. If you’re not sure what it is or if you chose an amount that you know you won’t be able to pay today (or even next month if you plan to start saving for your emergency fund today), you may want to lower that amount and instead pay a few more dollars in premiums each month.

Health Insurance

5 Secrets to Finding Low Cost Health Insurance

You may be shopping for health insurance because you got a new job, which doesn’t offer health insurance. Some people even prefer to have a health plan separate from their jobs. It’s usually a more expensive option to buy an individual health insurance policy when an employer offers to pay a portion of your premiums each month. However, some people prefer to choose their own insurance company and a plan that fits their needs.

Life Insurance

17 Things You Need to Know About Employer-Provided Life Insurance

According to the National Association of Personal Financial Advisors, you can save up to 80% on your monthly premiums in the first year (and more after that) if you switch to an individual policy -- but only if you are young and healthy. Let us explain.

Home Insurance

How Is Homeowners Insurance Different from Homeowners Association Insurance (HOA)?

As a homeowner, you want to do the best for your family by protecting them against the unforeseen. You also want to spend the least possible without compromising on quality. When it comes to insurance, you think much the same way. You own a home or condo and want to be insured properly in case something awful happens, like a burglary, fire or storm.

Life Insurance

3 Easy Retirement Strategies: 401K, IRA & Roth IRA Explained

Never turn down a matching 401K plan unless you will starve to death because of the deduction from your paychecks. How often do you have people paying you to put money away for the future while getting a tax break on that amount? Any match is free money so don’t pass it up!

Auto Insurance

10 Ways to Get Cheap Insurance for Young Drivers

Young drivers, you have a couple of things in common with one another: You are inexperienced and therefore more expensive to insure. Cheap car insurance for young drivers is almost an oxymoron. It’s not impossible to find cheap car insurance for new drivers, but it’s not easy. We know how to do it.

Home Insurance

How Do Insurance Agents Determine Roof Damage Claims?

Homeowners insurance was not designed to cover small or even big fixes, but to repair damage that is covered under the stipulations of your policy. In fact, you may end up paying more in monthly premiums if you file a claim that gets rejected. For this reason, we advise you to fully review your case and your policy to see if you’re covered before filing a claim.

Auto Insurance

Do I Need Rental Car Insurance?

You’ve made it through winter and are already looking to your spring or summer vacation. As always, you dread the airport, baggage claim and the car rental company. You never are sure if you need to buy the additional insurance they offer or if your personal auto insurance will apply. Or is it the credit card that supplies the insurance? So confusing!

Home Insurance

When You Should and Shouldn't File an Insurance Claim

Home insurance is slightly different from car insurance because there’s usually not another party involved, unless someone is hurt on your property and wants to file a claim. Usually, home insurance is used for major repairs to a damaged home. If you file many claims, the insurance company may hike up your rate or cancel your policy so don’t file a claim for every repair.

Auto Insurance

How Being Honest Gets You the Best Car Insurance Rate

The number of people lying on their applications is shocking, but what’s even more surprising are the consequences that people face after giving a false answer or by omitting a truth they assume will raise their premiums.

Auto Insurance

What Is Personal Injury Protection (PIP)?

The states where personal injury protection is required are called no-fault states. While you may not be required to carry personal injury protection (PIP) outside of these states, you should be aware of it and consider adding it to your coverage package. In the event of a car accident, PIP covers medical expenses and work loss for you and your passengers, regardless of who is at fault. Standard liability insurance will not cover these situations.

Home Insurance

9 Ways to Cut Your Expenses and Save Fast

Many of us are trying to save money, but it’s much easier to do simply by not wasting money. Below, you’ll find 10 easy ways to lower your monthly expenses and meet your financial goals. Saving money just became a breeze!

Auto Insurance

10 Frequently Asked Questions About Driving for Uber or Lyft

There is a gap in coverage between waiting for payment and turning off the app when you're driving for Uber or Lyft. If another car hits you while you’re idling, it’s an out-of-pocket expense because you’re not covered by either insurance. That’s where rideshare insurance comes in.

Life Insurance

Buying Life Insurance Later in Life: Physical Exams and More

This is a vital form of insurance that many Americans neglect to buy. The problem in not having life insurance is that the people you leave behind will have to pay your bills and funeral costs. We tell you what to expect when applying for a policy.

Health Insurance

Health Insurance Options Explained in Easy Terms

Sometimes, it’s good to look at certain scenarios and your own financial profile to see if not having any health insurance at all is really a gamble or not. After all, spending a few hundred dollars a month (or more) is not a joking matter but neither is spending thousands if something terrible happens.

Home Insurance

20 Coverages You Didn’t Know You Have with Homeowners Insurance

Homeowners insurance is an important protection to have even when it’s not required for a primary home, a vacation home or condo.

Home Insurance

Will I Save if I Bundle My Insurance?

To get an idea of how it works, let’s look at the famous “Bundle When You Bundle” advertising with Progressive and what the reality is behind the slogan.

Auto Insurance

What Determines Car Insurance Rates

Most insurance companies sign far fewer high-risk clients than those who are statistically less prone to find themselves in an accident. One way to keep everything balanced is to price high-risk drivers at higher rates.

Commercial Insurance

Cyber Insurance: More Than Protecting Yourself Against Data Breaches

If your question is do cyber attacks really happen, the answer is a resounding yes. Not only is the threat of a cyber attack not hyped up, attacks against businesses are increasing as more people gain cyber sophistication.

Health Insurance

I’m Moving: What About Health Insurance?

Even though the Open Enrollment Period for health insurance ends in January, there is a Special Enrollment Period that allows people with a qualifying event to enroll in a new health plan or change their current health insurance coverage.

Auto Insurance

Car Warranty vs Car Insurance: What’s the Difference?

Car warranties and car insurance are different in that they serve different purposes. Car insurance is intended to cover a loss. Warranties cover maintenance and breakdowns.

Home Insurance

What’s the Difference Between a Home Warranty and a Homeowners Insurance Policy?

Homeowners Insurance vs Home Warranty: Are They the Same? This is the most common question first-time homeowners have. This is a good question because it doesn’t assume that the two things are one and the same, because they are not.

Auto Insurance

Teens and Driving, an Expensive and Risky Combination

There’s no denying that teens have the highest insurance rates around. The following are some FAQs about how a teen affects your car insurance rate and how you can get your teen on the road, cheaply, safely and legally.

Home Insurance

Moving Out of State - What Do I Do About Insurance?

Let’s look a little more deeply into the different kinds of insurance you have and whether or not you need to switch insurers.

Auto Insurance

Should I Buy Gap Insurance? What Is it, Anyway?

Your car’s value is based on Kelley Blue Book numbers, which may surprise you. In fact, you may find out that you have what’s called “an upside-down loan” on your car.

Auto Insurance

Do I Need Collision Insurance?

Always think about worst-case scenarios when making insurance decisions. Only you know what you can and cannot afford to do if you cannot use your car any more.

Home Insurance

What’s Not Covered in a Homeowners Insurance Policy

We’ll first tell you what a homeowners insurance policy protects you against and then go over add-on homeowners coverages that you should seriously begin considering to ensure that you are covered in all kinds of perils.

Auto Insurance

Do I Need Comprehensive Insurance?

Clearly, collision insurance covers a car wreck of some sort, but what’s the real definition of comprehensive insurance when the word “comprehensive” cannot possibly mean that it covers everything?

Auto Insurance

Can You Add an RV to Your Auto Insurance?

Most agents will try to sell you specialty RV insurance but are you required by law to have it?

Renters Insurance

How to Find the Cheapest Renters Insurance Rate

Comparison shopping usually results in a savings of several hundred dollars a month!

Life Insurance

Do I Need to Buy a Life Insurance Policy for My Children?

It’s important to note that there is a savings component to permanent life insurance (but not term life insurance), which is the main reasons most parents take out a policy in the first place.

Auto Insurance

17 Ways to Lower an Auto Insurance Rate

Many factors are pushing rates over the roof, but that doesn’t mean that you can’t try to lower your auto insurance premiums today.

Renters Insurance

What Does Renters Insurance Cover?

Tenants wrongly assume that any loss would be covered by the landlord’s insurance but it's renters insurance that would cover a claim for personal belongings.

Health Insurance

Special Qualifying Events for People Who Still Don’t Have Health Insurance

Here are some of the more common reasons you may qualify for enrolling in a healthcare plan late in the game.

Life Insurance

When is the Best Time to Buy a Life Insurance Policy?

Here are some quick facts about buying life insurance, which may help you decide if you need to buy life insurance for yourself or a loved one today or if you can stand to wait a few years.

Commercial Insurance

What Is General Liability Insurance? How to Buy Business Insurance

Most businesses have general liability insurance because accidents happen. They happen even more the bigger your company is.

Home Insurance

How Do You Switch a Homeowners Insurance Policy?

Many homeowners stick with the first home insurance policy they sign onto because they feel stuck. Why? Because their homeowners policy feels tied to their mortgage when it’s not.

Auto Insurance

Breaking News: Gender No Longer to Determine Auto Insurance Rates

California just joined six other states in banning gender as a factor in determining car insurance rates.

Auto Insurance

How Much Does it Cost to Own a Car?

The average car owner keeps a car for about 10 years. So, what does that mean for the average cost of owning a car?

Auto Insurance

Manual vs Automatic: What You Need to Know Before You Buy

The Manual vs Automatic debate has been raging ever since cars with automatic transmissions were created. Here are the pros and cons of both.

Auto Insurance

Car Insurance Calculator: See How Much You Can Save

Use this calculator to see to see what discounts you might be eligible for and how much you could save with going with a different carrier.

Auto Insurance

How Much Insurance Do You Need?

Ever wonder how much car insurance you actually need in your state?

Auto Insurance

DUI calculator: How a Night Out Drinking Affects Your Blood Alcohol Level

See how a night of drinking affects your blood alcohol level and how that compares to the legal limits in your state.

Auto Insurance

Three Secrets to Finding the Best Auto Insurance

Follow these 3 simple steps to find the best coverage and insurance rate for yourself and your family.

Auto Insurance

20 Reasons to Get a New Auto Insurance Quote

There are numerous factors that can impact your auto insurance rate.

Auto Insurance

Car Insurance Statistics & How to Save in Your State

What you need to know before you compare rates.

Renters Insurance

10 Reasons Why You Should Buy Renters Insurance

Here is what you should keep in mind If you rent a apartment, condo, townhome or single family home.

Commercial Insurance

11 Things to Consider When Buying Commercial or Business Insurance

If you are a business owner, you will need to make sure that you have an adequate amount of business insurance to protect both your personal and business interests.

Home Insurance

How to Protect Your Home

What you need to know about home insurance claims and how to find the best coverage at the best price.

Life Insurance

What You Need to Know About Life Insurance

How life insurance works and how to find the best rate.

Auto Insurance

11 Mistakes People Make When Shopping for Auto Insurance

When we shop for insurance, we should take our time and make sure that we are making the best possible decision.

Auto Insurance

12 Things You Can do to Lower Your Auto Insurance Premium

Drivers assume that there is nothing they can do to lower their insurance premium, this is not true.

Commercial Insurance

8 Tips for Lowering Your Small Business Insurance Premium

Quick and easy tips that every business owner should be doing.

Health Insurance

25 Things to Know When Looking for a New Health Insurance Plan

The more informed you are when selecting a new health insurance plan, the better decision you will make for yourself and your family or dependents.

Life Insurance

25 Questions to Ask When Buying a Life Insurance Policy

Once you make the decision to buy life insurance, selecting the right life insurance company and plan is extremely important. Here are some things to remember.

Home Insurance

7 Reasons Why Homeowners Should Obtain a Home Insurance Quote Every 2 Years

Obtaining the optimal level of insurance, without overpaying, should be a homeowner’s objective. Here are 7 things to keep in mind.

Auto Insurance

10 Auto Insurance Tips for Parents of Young Drivers

What your young driver does, while driving your car, has a direct impact on what you pay for your insurance.

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