Archive for January, 2011

Insurance Policy Valuation: Which is best?

Insurance Policy Valuation: Which is best?

| January 31, 2011 | 0 Comments

In the world of insurance, an insurer will not pay more in damages for an item than it’s worth. There are some items that are very easy to determine the value of, such as a car, a house or even a diamond ring. With some items, however, policyholders may prefer to declare an item’s value […]

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What Does Being a Certificate Holder on Insurance Mean?

What Does Being a Certificate Holder on Insurance Mean?

| January 29, 2011 | 0 Comments

The insurance industry has several ways of providing evidence of insurance. With automobile insurance for example, the Department of Motor Vehicles accepts automobile ID cards as proof of insurance when registering a vehicle. Mortgage companies and banks often only accept insurance binders. Businesses and contractors are usually issued certificates of insurance as proof of coverage. […]

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Completing IRS Form 8822: Change of Address

Completing IRS Form 8822: Change of Address

| January 28, 2011 | 0 Comments

Despite popular belief that no one can hide from the government, there are times when it becomes necessary to notify the government of a change in name, change in business location or a change in home address. IRS form 8822 is used to notify the government of such changes. If changes also affect tax-filing children […]

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Auto Insurance Physical Damage Coverage

Auto Insurance Physical Damage Coverage

| January 25, 2011 | 0 Comments

The property section of an automobile policy is called the physical damage section. This is the part of the policy that covers you, the car owner in the event of a loss. Automobile physical damage coverage comes in two flavors; comprehensive and collision. Automobile Collision Coverage A collision loss occurs when your vehicle collides hits […]

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Does a Child Need a Life Insurance Policy?

Does a Child Need a Life Insurance Policy?

| January 23, 2011 | 0 Comments

The last thing any parent wants to think of is something happening to their child. However, with child life insurance it’s better to have and not need than need and not have. When shopping around for the best possible quotes for life insurance, most people don’t consider a life insurance policy for their children. After […]

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NY Homeowners Insurance Tips

NY Homeowners Insurance Tips

| January 19, 2011 | 0 Comments

Here are a few tips New York homeowners should keep in mind when looking to insure their home. These tips apply whether you live in upstate New York or downstate in New York City. Keep up with your coinsurance: Coinsurance, commonly written for 80%, means that your policy limit must equal at least 80% of […]

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IRS Form 1098: Mortgage Interest Statement

IRS Form 1098: Mortgage Interest Statement

| January 19, 2011 | 0 Comments

IRS tax form 1098 is also known as the Mortgage Interest Statement. This statement must be furnished to anyone who paid more than $600 in mortgage interest to a lender. The lender can be a person, financial institution, coal up housing Corporation or a governmental unit. IRS Form 1098 Must be Original If you are […]

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The American Dream…

The American Dream…

| January 17, 2011 | 0 Comments

Is your dream getting closer or is it moving farther away?

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Homeowners Insurance and Federally Declared Disasters

Homeowners Insurance and Federally Declared Disasters

| January 16, 2011 | 0 Comments

Not every loss is covered under an insurance policy. What do you do after a major disaster when your insurance policy does not respond? This article was originally written after a storm slammed the North Eastern United States in 2007. The then president, President George W. Bush issued a Major Disaster Declaration for the states […]

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Insurance Policy Valuation Clause

Insurance Policy Valuation Clause

| January 14, 2011 | 0 Comments

In addition to having adequate amounts of insurance, you must check that your policy contains the right valuation clause for the items insured. Finding out at the time of a loss that your policy contains the incorrect valuation can prove to be a very costly setback for any policyholder. To prevent such an event, make […]

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