Distribution Income: The Pillar of Mortgage Stability

• Understanding Distribution Income: Mortgage lenders often scrutinize your income sources. Diversifying your income through distribution sources, such as dividends, can enhance your financial profile.
• Optimizing Distribution Income for Mortgages: Highlight ways to increase and stabilize distribution income, showcasing its positive impact on your mortgage application.

Mastering Net Cashflow for Mortgage Approval

• The Net Cashflow Advantage: Lenders evaluate your ability to manage debt by examining your net cashflow. Uncover the nuances of calculating net cashflow and how it affects your mortgage eligibility.
• Strategies for Improving Net Cashflow: Explore actionable tips for increasing net cashflow, empowering readers to make informed financial decisions.

Debt That’s Not Yours: Unraveling the Credit Conundrum

• Identifying Unwanted Debt: Unforeseen debts can jeopardize your mortgage prospects. Discuss common scenarios where individuals may unknowingly assume debts and how to navigate these situations.
• Cleaning Up Your Credit Report: Provide step-by-step guidance on rectifying credit reports, emphasizing the importance of a clean credit history for mortgage approval.

Navigating Employment by a Relative: A Unique Challenge

• The Family Employment Conundrum: Being employed by a relative can present challenges during the mortgage application process. Uncover potential pitfalls and strategies for demonstrating financial independence.
• Proving Financial Independence: Offer insights on showcasing financial independence even when employed by a relative, ensuring a smoother mortgage approval journey.

Empower yourself with these top mortgage tips, paving the way for a successful home financing journey. Remember, a well-managed financial profile not only secures your mortgage but also sets the foundation for a stable and prosperous future. Dive into each tip, implement actionable strategies, and watch as your mortgage dreams transform into reality.

The post Mastering Mortgage Management: Top 4 Tips for Financial Success appeared first on MeetSean.

1. Prioritize Safety First

The aftermath of a hurricane can present a range of hazards, from fallen power lines to submerged debris. Your safety and that of your family should be your top priority. Here’s what you need to do:

• Stay Indoors: Avoid going outside until authorities declare it safe. Debris, downed power lines, and flooded areas pose serious risks.
• Check for Injuries: Attend to any injuries immediately. If medical attention is needed, call emergency services.
• Avoid Flooded Areas: If your area is flooded, avoid walking or driving through the water. Floodwaters can be contaminated and hide dangerous debris.
• Beware of Utility Hazards: Don’t use electrical appliances if you suspect water damage, and never handle downed power lines.

2. Assess and Document Damage

After ensuring safety, it’s essential to assess the extent of the damage to your property. This documentation will be crucial for insurance claims and disaster relief assistance:

• Take Photos and Videos: Document the damage to your property and belongings. This visual evidence will be valuable when dealing with insurance claims.
• Make a List: Create an inventory of damaged items, including their approximate value. This will streamline the insurance process.
• Contact Your Insurance Company: Report the damage to your insurance company as soon as possible. They will guide you through the claims process.

3. Initiate Clean-Up and Repairs

Once you’ve documented the damage and notified your insurance company, it’s time to start the clean-up and repair process:

• Mitigate Further Damage: Cover broken windows, leaks, or exposed areas with tarps or boards to prevent additional damage.
• Remove Debris: Safely clear debris from your property to prevent accidents and further damage. Be cautious while doing so, and consider seeking professional help for larger debris.
• Begin Drying Out: If your property experienced flooding, start the drying-out process as soon as possible to prevent mold growth. Open windows and use fans if electricity is available.

4. Seek Assistance and Support

Recovering from a hurricane is a daunting task that often requires help from various sources:

• Contact Disaster Relief Agencies: Reach out to local and national disaster relief organizations for assistance. They can provide resources, guidance, and support during your recovery.
• Communicate with Neighbors: Check on your neighbors and offer help if needed. Community support can make a significant difference during challenging times.
• Stay Informed: Keep yourself updated with official information from local authorities and government agencies regarding relief efforts, assistance programs, and safety guidelines.

Recovering from a hurricane is a multi-step process that requires patience, resilience, and careful planning. By prioritizing safety, assessing damage, initiating clean-up and repairs, and seeking assistance, you can navigate the challenging aftermath of a hurricane and work towards rebuilding your life and property. Remember, you’re not alone—support from your community and various organizations is available to help you on the path to recovery.

The post After the Storm: 4 Crucial Steps to Take After a Hurricane Strikes appeared first on MeetSean.

Not using it? Turn it off

We all know how important it is to save energy and resources in our homes. However, we rarely think about how much electricity and other resources we can save by simply turning off the power when not in use. Turning off the power while you are not using it is a simple way to conserve energy and money, reduce your carbon footprint, and cool your house when you leave .

It’s also a good idea to switch off ALL of your electrical appliances at the powerpoint (or even unplug them from the wall) when you’re going on holidays or leaving the house for an extended period of time.

Change your bulbs

At a time when people are increasingly looking for ways to reduce their carbon footprints and save money, changing light bulbs is a great place to start! Replacing traditional incandescent bulbs with LED or other energy-efficient lighting can save both money and energy, helping to protect the planet from further environmental damage. Not only that, but making this small switch can also make a big difference in the long run. LED light bulbs are up to 80% more energy efficient than regularly light bulbs. They also last longer, so making the switch is a win win!

Heating up and cooling off

Heating and cooling systems are some of the most energy (and money) hungry users in your home. A simple way to reduce the costs of heating and cooling is to shut your doors and draw your curtains closed, trapping the hot or cold air inside.

Close the doors of the rooms/areas you want to heat or cool as well, and only turn on these appliances in rooms/areas that you spend the most time.

Drawing your curtains closed will help seal your windows – stopping the warm or cool air from escaping.

Be smart about your laundry

If you’re like the majority of people, laundry is a necessary part of everyday life. But using smart tactics to launder clothes can save you money and help protect the environment.

Saving money on laundry starts with washing your clothes in cold water. It may be tempting to use hot water for heavily soiled or stained items, but warm or cold water is just as effective when combined with detergent specifically made for cold-water washes. By doing this, you can reduce energy costs by up to 90 percent compared to washing in hot water.

When you can, wash your clothes in cold water and make sure you are only starting a washing cycle when the machine is full.

Clothes dryers are extremely energy hungry appliances, so if possible, try dry your clothes naturally outside or use a fan to dry them inside. It may take slightly longer, but it’s worth it! Plus, the sunshine acts a natural antibacterial treatment, giving your washing an extra level of cleanliness.

In addition to saving energy, choose detergents that are free of phosphates and other harsh chemicals. Less chemicals mean less impact on both your wallet and our planet’s health.

Anything broken or not working properly?

When an appliance is broken, defective or needs servicing, it doesn’t work as efficiently. Have a walk through of your house and ensure that all appliances are in good working condition.

Things to check:

• Fridge and freezer door seals – broken seals can let cool air out, making your fridge work harder to keep a constant temperature.
• Dishwasher filters – clean or replace your filters to make your dishwasher run as well as possible.
• Heating and cooling appliances – make sure you are regularly servicing your heating and cooling systems.

When checking appliances, consider how old it is. Newer appliances are far more energy efficient than older models. Appliances on the market now, are rated on a 6-star energy efficiency rating system. The more stars, the more energy-efficient the product is, in comparison to other models in its category.

So there you have it! Save some $$ by utilizing these handy home hints.  It doesn’t take much but over the long term, these small changes will make a big difference to your expense bills.

The post Cheap and Eco-Friendly Strategies: Save Money, Save the World appeared first on MeetSean.

1. Shop Around

It’ll take some time, but could save you a good sum of money. Ask your friends, check the Yellow Pages or contact your state insurance department. (Phone numbers and Web sites are on the back page of this brochure.) National Association of Insurance Commissioners (www.naic.org) has information to help you choose an insurer in your state, including complaints. States often make information available on typical rates charged by major insurers and many states provide the frequency of consumer complaints by company.Also check consumer guides, insurance agents, companies and online insurance quote services. This will give you an idea of price ranges and tell you which companies have the lowest prices. But don’t consider price alone. The insurer you select should offer a fair price and deliver the quality service you would expect if you needed assistance in filing a claim. So in assessing service quality, use the complaint information cited above and talk to a number of insurers to get a feeling for the type of service they give. Ask them what they would do to lower your costs.Check the financial stability of the companies you are considering with rating companies such as A.M. Best (www.ambest.com) and Standard & Poor’s (www.standardandpoors.com/ratings) and consult consumer magazines. When you’ve narrowed the field to three insurers, get price quotes.

2.Raise your Deductibles

Deductibles are the amount of money you have to pay toward a loss before your insurance company starts to pay a claim, according to the terms of your policy. The higher your deductible, the more money you can save on your premiums. Nowadays, most insurance companies recommend a deductible of at least $500. If you can afford to raise your deductible to $1,000, you may save as much as 25 percent. Remember, if you live in a disaster-prone area, your insurance policy may have a separate deductible for certain kinds of damage. If you live near the coast in the East, you may have a separate windstorm deductible; if you live in a state vulnerable to hail storms, you may have a separate deductible for hail; and if you live in an earthquake-prone area, your earthquake policy has a deductible.

3.Dont confuse what you paid for your house with rebuilding costs

The land under your house isn’t at risk from theft, windstorm, fire and the other perils covered in your homeowners policy. So don’t include its value in deciding how much homeowners insurance to buy. If you do, you will pay a higher premium than you should.

4.Buy your home and auto policies from the same insurer

Some companies that sell homeowners, auto and liability coverage will take 5 to 15 percent off your premium if you buy two or more policies from them. But make certain this combined price is lower than buying the different coverages from different companies.

5.Make your home more disaster resistant

Find out from your insurance agent or company representative what steps you can take to make your home more resistant to windstorms and other natural disasters. You may be able to save on your premiums by adding storm shutters, reinforcing your roof or buying stronger roofing materials. Older homes can be retrofitted to make them better able to withstand earthquakes. In addition, consider modernizing your heating, plumbing and electrical systems to reduce the risk of fire and water damage.

6.Improve your home security

You can usually get discounts of at least 5 percent for a smoke detector, burglar alarm or dead-bolt locks. Some companies offer to cut your premium by as much as 15 or 20 percent if you install a sophisticated sprinkler system and a fire and burglar alarm that rings at the police, fire or other monitoring stations. These systems aren’t cheap and not every system qualifies for a discount. Before you buy such a system, find out what kind your insurer recommends, how much the device would cost and how much you’d save on premiums.

7.Seek out other discounts

Companies offer several types of discounts, but they don’t all offer the same discount or the same amount of discount in all states. For example, since retired people stay at home more than working people they are less likely to be burglarized and may spot fires sooner, too. Retired people also have more time for maintaining their homes. If you’re at least 55 years old and retired, you may qualify for a discount of up to 10 percent at some companies. Some employers and professional associations administer group insurance programs that may offer a better deal than you can get elsewhere.

8.Maintain a good credit record

Establishing a solid credit history can cut your insurance costs. Insurers are increasingly using credit information to price homeowners insurance policies. In most states, your insurer must advise you of any adverse action, such as a higher rate, at which time you should verify the accuracy of the information on which the insurer relied. To protect your credit standing, pay your bills on time, don’t obtain more credit than you need and keep your credit balances as low as possible. Check your credit record on a regular basis and have any errors corrected promptly so that your record remains accurate.

9.Stay with the same insurer

If you’ve kept your coverage with a company for several years, you may receive a special discount for being a long-term policyholder. Some insurers will reduce their premiums by 5 percent if you stay with them for three to five years and by 10 percent if you remain a policyholder for six years or more. But make certain to periodically compare this price with that of other policies.

10.Review the limits in your policy and the value of your possessions at least once a year

You want your policy to cover any major purchases or additions to your home. But you don’t want to spend money for coverage you don’t need. If your five-year-old fur coat is no longer worth the $5,000 you paid for it, you’ll want to reduce or cancel your floater (extra insurance for items whose full value is not covered by standard homeowners policies such as expensive jewelry, high-end computers and valuable art work) and pocket the difference.

11.Look for private insurance if you are in a government plan

If you live in a high-risk area — say, one that is especially vulnerable to coastal storms, fires, or crime — and have been buying your homeowners insurance through a government plan, you should check with an insurance agent or company representative or contact your state department of insurance for the names of companies that might be interested in your business. You may find that there are steps you can take that would allow you to buy insurance at a lower price in the private market.

12.When you’re buying a home, consider the cost of homeowners insurance

You may pay less for insurance if you buy a house close to a fire hydrant or in a community that has a professional rather than a volunteer fire department. It may also be cheaper if your home’s electrical, heating and plumbing systems are less than 10 years old. If you live in the East, consider a brick home because it’s more wind resistant. If you live in an earthquake-prone area, look for a wooden frame house because it is more likely to withstand this type of disaster. Choosing wisely could cut your premiums by 5 to 15 percent. Check the CLUE (Comprehensive Loss Underwriting Exchange) report of the home you are thinking of buying. These reports contain the insurance claim history of the property and can help you judge some of the problems the house may have. Remember that flood insurance and earthquake damage are not covered by a standard homeowners policy. If you buy a house in a flood-prone area, you’ll have to pay for a flood insurance policy that costs an average of $400 a year. The Federal Emergency Management Agency provides useful information on flood insurance on its Web site at www.fema.gov/nfip/. A separate earthquake policy is available from most insurance companies. The cost of the coverage will depend on the likelihood of earthquakes in your area. In California the California Earthquake Authority (www.earthquakeauthority.com) provides this coverage.

If you have questions about insurance for any of your possessions, be sure to ask your agent or company representative when you’re shopping around for a policy. For example, if you run a business out of your home, be sure to discuss coverage for that business. Most homeowners policies cover business equipment in the home, but only up to $2,500 and they offer no business liability insurance. Although you want to lower your homeowners insurance cost, you also want to make certain you have all the coverage you need.

Reviewed by:

Consumer Federation of America
www.consumerfed.org/

Federal Citizen Information Center
www.pueblo.gsa.gov/

National Consumers League
www.nclnet.org/

Cooperative State Research, Education, and Extension Service, USDA
www.csrees.usda.gov/

The post 12 Ways to Lower Your Homeowners Insurance Costs appeared first on MeetSean.

Listed below are other things you can do to lower your insurance costs. 

1. Shop around

Prices vary from company to company, so it pays to shop around. Get at least three price quotes. You can call companies directly or access information on the Internet. Your state insurance department may also provide comparisons of prices charged by major insurers. 

You buy insurance to protect you financially and provide peace of mind. It’s important to pick a company that is financially stable. Check the financial health of insurance companies with rating companies such as AM Best (www.ambest.com) and Standard & Poor’s (www.standardandpoors.com/ratings) and consult consumer magazines.

Get quotes from different types of insurance companies. Some sell through their own agents. These agencies have the same name as the insurance company. Some sell through independent agents who offer policies from several insurance companies. Others do not use agents. They sell directly to consumers over the phone or via the Internet.

Don’t shop by price alone. Ask friends and relatives for their recommendations. Contact your state insurance department to find out whether they provide information on consumer complaints by company. Pick an agent or company representative that takes the time to answer your questions. You can use the checklist on the back of this brochure to help you compare quotes from insurers.

2. Before you buy a car, compare insurance costs

Before you buy a new or used car, check into insurance costs. Car insurance premiums are based in part on the car’s price, the cost to repair it, its overall safety record and the likelihood of theft. Many insurers offer discounts for features that reduce the risk of injuries or theft. To help you decide what car to buy, you can get information from the Insurance Institute for Highway Safety (www.iihs.org).

3. Ask for higher deductibles

Deductibles are what you pay before your insurance policy kicks in. By requesting higher deductibles, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15 to 30 percent. Going to a $1,000 deductible can save you 40 percent or more. Before choosing a higher deductible, be sure you have enough money set aside to pay it if you have a claim.

4. Reduce coverage on older cars

Consider dropping collision and/or comprehensive coverages on older cars. If your car is worth less than 10 times the premium, purchasing the coverage may not be cost effective. Auto dealers and banks can tell you the worth of cars. Or you can look it up online at Kelley’s Blue Book (www.kbb.com). Review your coverage at renewal time to make sure your insurance needs haven’t changed.

5. Buy your homeowners and auto coverage from the same insurer

Many insurers will give you a break if you buy two or more types of insurance. You may also get a reduction if you have more than one vehicle insured with the same company. Some insurers reduce the rates for long-time customers. But it still makes sense to shop around! You may save money buying from different insurance companies, compared with a multipolicy discount.

6. Maintain a good credit record

Establishing a solid credit history can cut your insurance costs. Most insurers use credit information to price auto insurance policies. Research shows that people who effectively manage their credit have fewer claims. To protect your credit standing, pay your bills on time, don’t obtain more credit than you need and keep your credit balances as low as possible. Check your credit record on a regular basis and have any errors corrected promptly so that your record remains accurate.

7. Take advantage of low mileage discounts

Some companies offer discounts to motorists who drive a lower than average number of miles per year. Low mileage discounts can also apply to drivers who car pool to work.

8. Ask about group insurance

Some companies offer reductions to drivers who get insurance through a group plan from their employers, through professional, business and alumni groups or from other associations. Ask your employer and inquire with groups or clubs you are a member of to see if this is possible.

9. Seek out other discounts

Companies offer discounts to policyholders who have not had any accidents or moving violations for a number of years. You may also get a discount if you take a defensive driving course. If there is a young driver on the policy who is a good student, has taken a drivers education course or is away at college without a car, you may also qualify for a lower rate.

When you comparison shop, inquire about discounts for the following:*

Antitheft Devices
Auto and Homeowners Coverage with the Same Company
College Students away from Home
Defensive Driving Courses
Drivers Ed Courses
Good Credit Record
Higher deductibles
Low Annual Mileage
Long-Time Customer
More than 1 car
No Accidents in 3 Years
No Moving Violations in 3 Years
Student Drivers with Good Grades

*The discounts listed may not be available in all states or from all insurance companies.

The key to savings is not the discounts, but the final price. A company that offers few discounts may still have a lower overall price.

The post Nine ways to lower your auto insurance costs appeared first on MeetSean.

GEICO

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With its impressive financial strength to support its claims, high customer satisfaction ratings, and online quoting and policy access tools, GEICO sits at the top of the heap as the best flood insurance company overall.

Pros

• Online quote calculator
• Claims can be filed through phone
• Discounts if combined with auto or homeowner’s insurance
• A mobile app where users can get a quote

Cons

• Uses third-party companies to underwrite policies
• A limited number of discounted offers
• Cost depends on the exact partner company they cooperate with

Thanks to its solid financial strength and customer experience reputation, GEICO has topped other flood insurance companies as our overall best. 

GEICO was established during the Great Depression of 1936 to insure government employees and military personnel. In fact, its full name is Government Employees Insurance Company. Since 1996, it has been an indirect, wholly-owned subsidiary of Berkshire Hathaway, Fortune magazine’s most-admired property and casualty insurance carrier.2 GEICO boasts an AM Best rating of A++ (Superior), an AA+ rating from Standard & Poor’s, and an Aa1 rating from Moody’s.34

GEICO hires local agents to sell their services, ensuring that clients get the advantage of having local knowledge on their side. You can get an online quote to check the cost of your flood insurance or call to speak to a live agent. To report a claim, you’ll call a live agent at your GEICO partner carrier’s company.

Writing policies nationwide, the typical cost for a single-family primary residence to have a coverage of $100,000 building flood insurance with $40,000 content insurance is $439 per year. Insuring only your home’s content from flood damage up to $100,000 would cost $346 per year.

Policy costs will vary based on whether you live in the home all year or only partially, whether you rent it out to others, or if you’re insuring a commercial property.

GEICO’s coverage will not include carpet and personal property that you keep in the basement. If your home is fully or partially located above water, you won’t qualify for a policy from them. For example, if you have a home that sits on stilts or pilings over the water at the ocean, a river, or a lake, it won’t qualify for GEICO’s flood insurance policy.

Severe Repetitive Loss Property, TFIA will not be able to provide flood insurance.

BEST FOR VETERANS

USAA

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USAA provides flood insurance through the NFIP and through its broker network for excess coverage, so its flood policy offerings can adapt to your needs. Policy adaptability and generous member reimbursements make USAA the best flood insurer for veterans.

Pros

• A mobile app for easy access
• Available in all states
• Specialized veteran insurance
• Customer service is highly rated by its long-term membership

Cons

• No local agent option available
• Available only for U.S. service members, veterans, and family members

USAA offers an array of insurance types specialized for armed service members of any rank and their families, and shares its annual savings on its claims budget with its members to earn our vote for the best flood insurance company for veterans, active duty, and their families.

A group of 25 army officers started USAA to insure one another’s vehicles in 1924. It provides services in 50 states and Washington, D.C., and has about 34,000 employees and 12.8 million members. AM Best has given it an A++ (Superior) rating.7 

NFIP covers building and property up to $250,000 and personal property up to $100,000. If you want coverage above the NFIP limits, USAA can arrange for excess coverage for you. It also sells coverage to condo owners and renters.

The company has an online quote form, or you can start the process with an agent by phone. USAA has a good reputation for customer service available 24/7 through phone and email after buying your policy. They also have an app where you can submit a claim and view your account remotely. 

Writing policies nationwide, the average annual price ranges for $250,000 of building coverage and $75,000 of contents coverage on a single-family home is $2,000 to $3,000. Variables that can affect your price include address, flood zone, size of the home, whether it is located above water, and the type of foundation or basement.

With USAA, you can get an online quote for a one- to four-family home that has not experienced a flood loss. Outside of those parameters, you need to call USAA to talk to a flood specialist.

BEST FOR COMPREHENSIVE COVERAGE

Neptune

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Neptune can tailor your policy to cover more of your assets than any other insurer, making it our top choice for comprehensive coverage.

Pros

• Online residential quote tool
• Available in all states except Kentucky and Alaska.
• Covers assets that other insurers won’t

Cons

• Professes to be a tech innovator yet requires phone contact to file a claim

The NFIP and other private flood insurance companies won’t cover a long list of assets that Neptune will, making Neptune our most comprehensive flood insurance company. With Neptune, you can shape your policy to include replacement cost, temporary living expenses, basement contents, pool repair and refill, detached structures like garages, and business interruption payments.

Neptune was founded in 2016 by merging technology, math algorithms, and insurance knowledge. All of their policies benefit from an AM Best rating of A.8 They provide residential and commercial flood insurance, and their ideal customer is someone who has better things to do than spend lots of quality time with their insurance agent. They pride themselves on serving consumers who want convenience and self-help services for efficiency.

Neptune does online residential quoting, but you do have the option to talk to an agent or send an email. Commercial quoting must be done by phone with an agent. After you buy a policy, you can make payments in your customer portal. For policy changes, questions, endorsements, or cancellations, Neptune wants you to call them.

You can report a claim by calling or emailing the company, or contacting your local Neptune agent who wrote your policy. The Neptune Claim Adjuster will contact you within two hours of reporting your claim and guide you through their short claim process. Neptune does not require pictures nor elevation certificates like other companies do.

The company writes residential and commercial policies nationwide, with a few random states still unavailable, namely Kentucky and Alaska. They’ll also write commercial policies everywhere except Kentucky and Alaska. 

The average cost of a residential policy with $250,000 of building coverage and $100,000 of contents coverage in a low- to medium-risk area falls between $1,250 and $1,800 a year. Location, construction, building, residency, basement type, number of stories, and whether you rent the dwelling to others or you are the renter will all change the policy pricing.

Neptune’s long list of policy inclusions is what sets it apart as the most comprehensive. The fact that you can cover your personal property stored in your basement, your pool, temporary living expenses, and extra buildings on your property are all notable policy inclusions that make Neptune stand out from the crowd.

BEST AFFORDABLE OPTION

Better Flood Insurance

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Better Flood Insurance uses the power of leverage to get you the most affordable flood insurance rates. This company scours the network of insurers on your behalf, saving you hours of research to match you to the program that fits your situation best. As a result, Better Flood Insurance can deliver the most affordable flood insurance options.

Pros

• Flood insurance is all they do
• Their shopping includes many Lloyd’s of London and other private flood insurance options
• High customer service ratings
• Instant flood insurance estimate and comparison tool online

Cons

• The online quote form is very thorough. If you don’t have the patience for it, you may find it off-putting
• Since they are shopping for you, they ask for things that some insurers wouldn’t request, such as an elevation certificate

When you hire a professional shopper like Better Flood Insurance, they evaluate the policies to make sure you are getting just the right amount of coverage at the right price. Many flood policies are written by generalists; as a result, policies are often overpriced and under-insured. Better Flood Insurance gets you the most affordable option, and their expertise has made them the best at what they do, which makes them the best affordable option in our review.

Better Flood Insurance has three strategically placed offices to help you no matter what time zone you’re in. Their staff work in Florida, Colorado, and California in case you want to call them rather than connect with them online. Verified review sites supply ample five-star reviews and testimonials for you to read before you decide to contact them. The insurance companies they will review for you have the same strong financial ratings that our other winners have, plus the backing of Lloyd’s of London in many cases.

This company is best for people who want to make sure they don’t miss out on a better deal and would rather have the experts hunt for them. Consumers pay nothing out of pocket for Better Flood’s service.

The online quote process is similar to others; you fill out an online form describing your property and the coverage levels you’d like. Better Flood then takes your intake form and shops it to their network of insurers. You can also get an instant estimate online near the bottom of their home page.

Since you don’t actually have a policy with Better Flood, you won’t file a claim with them either. Your relationship with them ends once they’ve found you a policy, though you can always go back to them and shop for a new policy if you feel like your insurance pricing is climbing too much. 

For $250,000 of coverage, Better Flood will find you a policy nationwide that costs around $900 to $1,000 yearly, saving you $500 to $600 over an NFIP policy. Factors that affect the pricing are coverage amount, location, foundation and building type, flood zone designation, number of floors, whether there is a garage, age of the home, and occupancy type.

The post Top 4 Flood Insurance for 2022 appeared first on MeetSean.

New York Life

Pros:

• Policies available to 90-year-old applicants
• A++ AM Best rating
• Long history of dividend payments
• Few customer complaints
• Broad selection of riders

Cons:

• Must talk to an agent to get a quote and apply
• Limited policy information online

New York life going for its 170 year has proved time and time again why its a national love insurance company. From fighting through turmoil like the great depression, rarely getting complaints, and whole life policyholders are eligible for life insurance dividend payments and is one of very few companies we reviewed that issues policies to applicants up to age 90

Here’s the link to check it out: https://www.newyorklife.com/

Guardian

Pros:

• No-exam coverage available to some seniors
• High customer satisfaction rating
• Three living benefits included
• Online term applications are available
• Accepts credit card payments

Cons:

• Doesn’t offer dividend-paying whole life
• Simplified whole life policies are only available to existing policyholders

Guardians been in business since 1860, satisfying there customers one day at a time. Just like New York Life, they rarely getting complaints, and whole life policyholders are eligible for life insurance dividend payments and is one of very few companies we reviewed that issues policies to applicants up to age 90.

Here’s the link to check it out: https://www.guardianlife.com/brokers/sales-offices

Nationwide

Pros:

• No-exam coverage available to some seniors
• High customer satisfaction rating
• Three living benefits included
• Online term applications are available
• Accepts credit card payments

Cons:

• Doesn’t offer dividend-paying whole life
• Simplified whole life policies are only available to existing policyholders

Nationwide stands out as the only company on this list that includes chronic, critical, and terminal illness accelerated death benefit riders at no additional cost on most of its policies. Also known as living benefits, these riders let you access the death benefit early, before death, to help pay for expenses (or anything you want) if you experience a qualifying condition.

Here’s the link to check it out: https://www.nationwide.com/

The post Top 3 Life insurance for Seniors appeared first on MeetSean.

Allstate

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Pros

• Great coverage including many extras
• Average national rates around $25 per month

Cons

• Limited info online about restrictions and exclusions to coverage

Coverage

Allstate offers a very comprehensive lineup of options for boat coverage, including:

• Watercraft liability coverage
• Property coverage
• Repair costs
• Medical payments
• Uninsured watercraft coverage
• Additional equipment and personal effects
• Trailer coverage
• Emergency services (such as towing, labor, and fuel, oil, and battery delivery)
• Agreed value

Discounts

Even though Allstate offers boat coverage starting at about $25 per month, it doesn’t shy away from discounts. You may qualify for the following when you insure your boat with Allstate:

• Multiple Policy Discount – Discount when you combine your boat insurance with an Allstate homeowners policy
• Full-Pay Discount – Discount for paying your full premium upfront
• Homeownership Discount – Discount for owning a home
• Boat Education Discount – Discount when you take an approved boater safety class
• Easy Pay Plan Discount – Discount when you enroll in automatic payments

Limitations

Allstate does not disclose many limitations on its boat coverage. However, some types of coverage and discounts are not to be had in all states, so it’s best to contact a local Allstate agent to verify the availability of coverage and discounts before switching over to Allstate for your boat insurance.

Additional Perks

Allstate offers the best of both worlds to its customers: local agents to help you with your insurance needs, as well as online tools and an 800 number to get questions answered anytime.

Allstate’s website also has a lot of information and resources for boaters, which can be especially helpful to new boaters or those with limited experience in owning a boat. The company offers articles and videos on boat maintenance, dealing with accidents and other marine emergencies, and handling your boat and boat insurance during the offseason.

Best for Cheap Boat Insurance

PROGRESSIVE

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Pros

• Rates as low as $100 per year
• Wide array of coverage
• Lots of available discounts

Cons

• Restrictions on types of boats covered

Coverage

As expected from one of the industry leaders in personal property insurance, Progressive offers all of the major coverage and more, including:

• Bodily injury and property damage liability
• Comprehensive coverage
• Collision coverage
• Uninsured/underinsured boater (UB/UIB)
• Medical payments
• Propulsion Plus mechanical breakdown coverage (add-on, starts at $38 per year)
• Sign & Glide on-water towing (add-on, starts at $30 per year)
• Fishing equipment or carry-on items
• Water sports injury coverage
• Fuel spills and wreckage removal
• Roadside assistance and trip interruption (if you elect trailer coverage)
• Full replacement cost

Discounts

You can potentially save even more with Progressive by qualifying for some of the following discounts:

• Advanced Quote Discount – For those who obtain a quote and sign up for coverage at least 24 hours before you want it to go into effect
• Transfer Discount – For those who move their boat to Progressive from another company
• Multiple Policy Discount – For those who maintain multiple types of insurance with Progressive (car, boat, motorcycle, homeowners, etc)
• Multi-boat Discount – For those who insure more than one vessel
• Association Discounts – For those who are members of the United States Coast Guard Auxiliary, United States Power Squadron, or USAA
• Original Owner Discount – If you’re the original owner of your boat
• Responsible Driver Discount – For boaters who remain accident-free on the water for at least three years
• Prompt Payment Discount – Automatically discounted so long as you pay on time
• Pay-in-Full Discount – For paying your entire premium upfront

Additionally, Progressive offers these perks that help customers save on their boat insurance over time:

• Small Accident Forgiveness – This prevents your rates from increasing if you end up in a boating accident with a claim under $500.
• Large Accident Forgiveness – This prevents your rates from increasing after an accident if you’ve previously remained accident-free for three years.
• Disappearing Deductible – Your deductible lowers by 25% for each period you remain claim-free until it finally reaches zero.

Limitations

Progressive boat insurance is only available for boats up to 50 feet in length, and in some states that experience higher hurricane risks, the limitations are 35 feet and $175,000 in value.

Progressive also places some age and value restrictions on the boats it covers. For example, it will not insure the following:

• Boats over 10 years old and worth more than $500,000
• Boats that are 11 to 20 years old and worth more than $250,000
• Boats over 20 years old and worth more than $60,000
• Boats used as a primary residence
• Houseboats that do not have motors
• Homemade boats without a hull identification number
• Boats with more than two owners
• Boats with steel or wood hulls
• All amphibious land boats, hovercraft, and airboats
• PWCs worth more than $27,000
• Boats that do not meet published U.S. Coast Guard standards

If you aren’t sure if your boat fits into Progressive’s coverage requirements, you should contact Progressive over the phone to ask clarification questions and obtain a quote.

Additional Perks

Other companies place restrictions on where you can use your boat, but Progressive gives you the freedom to sail wherever you’d like on any lake or river in the United States, as well as in ocean waters within 75 miles of the coast.

Progressive also waives some requirements that other companies force on customers, such as navigation plans and marine surveys. These requirements often cost customers hundreds of dollars, which means you save even more by using Progressive.

Finally, Progressive offers a variety of online tools and features, including the Name Your Price Tool and a mobile app. These help travelers access their plans and make changes anytime.

Best for Policy Bundling

NATIONWIDE

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Pros

• Multi-policy discount for those who bundle boat insurance and at least one other policy with Nationwide
• Boat insurance packages to help customers save money

Cons

• No online quote tool for boat insurance
• Not all coverages and discounts available in all states

Coverage

Nationwide offers lots of options for boat insurance coverage, including:

• Bodily injury and property damage liability
• Collision coverage
• Comprehensive coverage
• Uninsured/underinsured boater
• Medical payments coverage
• Roadside assistance (for boats and trailers)
• On-water boat towing and labor
• Fishing equipment insurance
• Personal effects insurance

Furthermore, there may be additional savings on your boat insurance when you select one of Nationwide’s boat insurance packages. The company offers a wide range of packages for different types of boaters, such as:

• Weekenders – For those who simply take gear onto their boat and remove it when they’re done, Nationwide offers an affordable package that includes up to $1,000 for fishing equipment, $3,000 for personal effects, and $500 for towing.
• Overnighters – For those who take short boating trips, Nationwide offers up to $2,500 for fishing equipment, $5,000 for personal effects, and $2,500 for towing.
• Light Tackle Anglers – For customers who own a bass boat or smaller fishing boat, Nationwide offers up to $5,000 for fishing equipment, $2,000 for personal effects, and $2,500 for towing.
• Deep Water Pros – For those who fish big waters, gulfs, bays, and oceans, Nationwide offers up to $10,000 for fishing equipment, $5,000 for personal effects, and $2,500 for towing.

Discounts

The best way to save with Nationwide is by bundling your insurance policies with them. While the company’s website claims customers can save up to 20% when bundling home and auto, it does not mention specific savings on bundling another policy with your Nationwide boat insurance. However, customers who choose to bundle a boat policy with their home, auto, or life policy with Nationwide will be awarded a discount.

In general, Nationwide offers these discounts to people who insure boats:

• Multiple Policy and Multiple Boat Discounts – For those who combine home, boat, vehicle, and/or life insurance policies
• Boater Safety Course Discount – For those who complete an approved water safety course
• Diesel Fuel Discount – For those who own a diesel-powered boat
• Paid-in-full Discount – For those who pay their 12-month premium upfront
• Claims-Free Renewal Discount – For those who are claim-free during the previous year

Limitations

Although Nationwide doesn’t specifically list limitations on where you can obtain its boat insurance, the company does stress that not all products and discounts are available in all states. Contact a local Nationwide agent or use the company’s website to obtain a quote before switching your boat coverage over to Nationwide.

Additional Perks

Nationwide offers a digital experience through its website and mobile app. On the website you can take advantage of resources as well as manage your policy through the company’s customer portal.

Best for Fishermen

MARKEL

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Pros

• Expansive coverage for fishing equipment
• Savings of up to 35% with discounts including a diminishing deductible

Cons

• No options to bundle with homeowners or car insurance

Coverage

Markel offers boat insurance starting at just $100 per year depending on what coverage you need. Whether you’re a professional fisher or just enjoy fishing for fun, Markel offers lots of coverage, including for:

• Watercraft liability
• Medical payments
• Agreed value watercraft and equipment
• Emergency towing
• Personal effects
• Uninsured/underinsured boater
• Pollution liability
• Replacement cost settlement
• Boat lift
• Trailer
• Fishing equipment
• Professional angler liability
• Tournament fee reimbursement
• Crash damage
• Theft
• Theft away from home
• Wreck removal

Discounts

Although Markel doesn’t offer some of the discounts that larger insurance companies do, you can still save money through these discounts for:

• Multiple boats
• Outboard propulsion
• Age (when the primary operator is 40 or older)
• Diesel engines
• Experienced boaters (for those with five or more years of boating experience)
• Being accident-free (a diminishing deductible program reduces your deductible by 25% for every year that you remain accident-free until it hits zero)

Limitations

Markel operates in all 50 states, but you should always consult with a customer service representative to see what boat insurance is available for you.

Additionally, Markel does not currently offer a smartphone app.

Additional Perks

Although Markel boat insurance comes with a few limitations, there are some significant perks. For starters, the diminishing deductible program is one discount option that not all companies provide. Moreover, Markel is the only company we found that offers discounts for boaters over the age of 40, which can help older people who fish for fun save money.

The most notable perk with Markel, though, is the large amount of coverages it has as standard policy. The professional angler option provides replacement cost coverage for fishing equipment and personal items, in addition to covering the boat itself. These coverage options make Markel a standout pick for anyone who uses their boat for fishing in any capacity.

The post 4 Best Boat Insurance Companies of 2022 appeared first on MeetSean.

The Department of Veterans Affairs offers insurance programs for veterans and their families. The VA has life insurance, home loan guaranty, and disability compensation programs. The VA also has a health care program that covers veterans and their families. The VA’s life insurance program is called the Veterans’ Group Life Insurance (VGLI). VGLI is a term life insurance policy that provides coverage up to $400,000. The policy can be converted to a permanent policy at any time. The home loan guaranty program guarantees loans for veterans and their families. The program helps veterans buy homes by providing lenders with a guarantee that the loan will be repaid even if the veteran dies or becomes disabled. The disability compensation program provides monthly payments to veterans who are permanently disabled or who have died from service-related injuries. The health care program provides free or low-cost health care to veterans and their families.

Medicare is a government-run health insurance program for people age 65 and older, as well as for some disabled people. In 2015, about 55 million people were covered by Medicare.1

Most people with Medicare can choose to get their health care coverage through Original Medicare or a Medicare Advantage plan. Original Medicare is a fee-for-service program in which you typically go to any doctor or hospital that accepts Medicare. With a Medicare Advantage plan, you must stay within the plan’s network of doctors and hospitals, but you typically have lower out-of-pocket costs than with Original Medicare.2

Veterans who are age 65 and older can get their health care coverage through Original Medicare or a Veterans Affairs (VA) health care program.

In conclusion, insurance and medicare are vital for veterans and elderly. They provide necessary care and assistance, which allows these populations to live healthier and more fulfilling lives. It is important that we continue to support these programs, so that all Americans can have access to the best possible healthcare.

The post Don’t let your veteran or elderly loved one go without insurance or Medicare! appeared first on MeetSean.

I know you think your still young, but you may be able to get a discount on your next restaurant meal or retail purchase. Many museums, movie theaters and entertainment venues provide reduced admission prices to people who are above a certain age.

AARP negotiates discounts for members, who can join as early as age 50, often allowing you to start using senior discounts at a younger age. Discounts are sometimes available on necessities such as groceries and clothing. Not all senior discounts are publicized, and sometimes they are given only to those who request them and show proof of age.

“Discounts are available through a lot of different venues,” says Dave Austin, former vice president of marketing services for AARP Services Inc. “There’s a lot of money to be saved if you are willing to ask.”

SEE: Great Senior Discounts for 2022.

2.Free college

College costs are a major expense for young people. But retirees might be able to take classes for free or at a very low cost. Many public colleges and some private institutions provide senior citizen tuition waivers or allow older people to audit classes for free or a minimal cost on a space-available basis. And there are over 100 Osher Lifelong Learning Institutes on college campuses that offer affordable classes specifically for retirees.

3.Affordable Health Insurance

Retirees don’t need to worry about finding a job that provides health coverage or the sometimes high out-of-pocket costs of health insurance plans purchased through state health insurance exchanges. Once you turn age 65, you can sign up for Medicare.

Most retirees don’t pay anything for their Part A hospital insurance. The premium for Medicare Part B, which covers doctor’s visits and medical services, is $148.50 per month for most retirees in 2021 (although some beneficiaries pay more), which can be deducted from your Social Security check so you won’t get a bill. Retirees can fill in some of the co-payments and deductibles by purchasing a supplemental plan and get their prescription drugs covered through Medicare Part D.

4.Tax Deductions for Seniors

People age 65 and older are eligible for several extra tax deductions. Seniors are eligible to claim a bigger standard deduction than younger taxpayers. The standard deduction is $1,350 more for each spouse who is age 65 or older, or $2,700 if both members of a married couple meet the age requirement.

If you are above a specific age and sometimes below a certain income level, you might also qualify for property or school tax deferrals or exemptions. “You have to check your state, county or local city rules,” says Jackie Perlman, principal tax research analyst at the Tax Institute at H&R Block. “Every state is different, and sometimes the municipalities within the state are different.”

[ SEE: 10 Tax Breaks for People Over 50. ]

The post 4 Financial Benefits You Don’t Want to Miss If You’re a Senior Citizen! appeared first on MeetSean.