Sean WIll Insure Archives - MeetSean https://meetsean.net/category/sean-will-insure/ Online Financial Services Tue, 10 Oct 2023 20:12:56 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://i0.wp.com/meetsean.net/wp-content/uploads/2023/11/cropped-1-1.png?fit=32%2C32&ssl=1 Sean WIll Insure Archives - MeetSean https://meetsean.net/category/sean-will-insure/ 32 32 229112274 4 Common Mistakes Commercial Realtor Investors Make https://meetsean.net/4-common-mistakes-commercial-realtor-investors-make/ https://meetsean.net/4-common-mistakes-commercial-realtor-investors-make/#comments Tue, 10 Oct 2023 20:12:50 +0000 https://meetsean.net/?p=401 Investing in commercial real estate can be a lucrative venture, but it also comes with its fair share of challenges and potential pitfalls. Commercial real estate investors, whether seasoned or newcomers, often make mistakes that can impact their profitability and long-term success. In this blog post, we will discuss four common mistakes that commercial realtor...

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Investing in commercial real estate can be a lucrative venture, but it also comes with its fair share of challenges and potential pitfalls. Commercial real estate investors, whether seasoned or newcomers, often make mistakes that can impact their profitability and long-term success. In this blog post, we will discuss four common mistakes that commercial realtor investors frequently make and offer insights on how to avoid them.

1. Neglecting Due Diligence

One of the most significant mistakes commercial real estate investors make is failing to conduct thorough due diligence before making an investment. Due diligence involves researching and analyzing every aspect of a potential property, including its location, condition, zoning regulations, financial history, and market trends. Skipping or rushing through this critical step can lead to costly surprises down the road.

To avoid this mistake:

– Hire a qualified team of professionals, including real estate agents, inspectors, appraisers, and attorneys, to help you assess the property thoroughly.
– Research the local market to understand current and future trends, vacancy rates, and the demand for commercial space in the area.
– Review the property’s financial statements, including income and expense reports, to ensure they align with your investment goals.

2. Overleveraging

Commercial real estate investments often require substantial capital, and investors may be tempted to borrow heavily to acquire properties. While leverage can enhance returns when the market is favorable, it can also amplify losses during downturns. Overleveraging, or taking on too much debt, can lead to financial stress and even foreclosure if rental income falls short of covering mortgage payments and expenses.

To avoid overleveraging:

– Establish a conservative loan-to-value (LTV) ratio that accounts for potential market fluctuations and allows for a safety cushion.
– Build a financial reserve to cover unexpected expenses and mitigate the risks associated with high leverage.
– Consider alternative financing options, such as partnering with investors or seeking equity financing, to reduce debt exposure.

3. Ignoring Property Management

Successful commercial real estate investment doesn’t end with the acquisition of the property. Ignoring property management responsibilities is a significant mistake that can lead to increased vacancy rates, tenant dissatisfaction, and decreased property value. Many investors underestimate the time and effort required to manage commercial properties effectively.

To avoid this mistake:

– Hire an experienced property management team or consider outsourcing property management services to professionals.
– Regularly inspect and maintain the property to address any issues promptly.
– Foster positive tenant relationships by addressing concerns and providing excellent customer service.

4. Failing to Diversify

Another common mistake among commercial realtor investors is failing to diversify their investment portfolios. Relying too heavily on a single property or property type can expose investors to concentrated risks. Economic downturns or changes in the local market can have a significant impact on a narrowly focused portfolio.

To avoid this mistake:

– Diversify your portfolio by investing in different types of commercial properties, such as office buildings, retail spaces, industrial properties, and multifamily housing.
– Consider investing in properties located in different geographic areas to spread risk.
– Explore alternative investments, such as real estate investment trusts (REITs), to add diversification to your real estate holdings.

Conclusion

Investing in commercial real estate can be a profitable endeavor, but it’s essential to navigate the market wisely and avoid common pitfalls. By conducting thorough due diligence, managing leverage carefully, focusing on property management, and diversifying your portfolio, you can increase your chances of success as a commercial real estate investor. Always seek guidance from experienced professionals and stay informed about market trends to make informed investment decisions.

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Navigating Commercial Real Estate: Top 4 Essential Steps Before Meeting with a Realtor https://meetsean.net/navigating-commercial-real-estate-top-4-essential-steps-before-meeting-with-a-realtor/ https://meetsean.net/navigating-commercial-real-estate-top-4-essential-steps-before-meeting-with-a-realtor/#comments Thu, 05 Oct 2023 18:49:04 +0000 https://meetsean.net/?p=399 In the competitive world of commercial real estate, being well-prepared can make all the difference between a successful deal and a missed opportunity. Whether you’re a budding entrepreneur or an established business owner looking for the perfect space, taking the right steps before meeting with a commercial realtor is crucial. In this SEO-optimized blog post,...

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In the competitive world of commercial real estate, being well-prepared can make all the difference between a successful deal and a missed opportunity. Whether you’re a budding entrepreneur or an established business owner looking for the perfect space, taking the right steps before meeting with a commercial realtor is crucial. In this SEO-optimized blog post, we’ll explore the top four necessary steps to ensure you’re fully prepared and equipped for your upcoming meeting.

1. Define Your Requirements:

Before diving into the real estate market, clearly define your requirements. Consider factors such as location, size, budget, and any specific amenities or features your business needs. Understanding your needs will not only streamline your property search but also give your realtor a clear picture of what you’re looking for, making the process more efficient.

2. Conduct Market Research:

Knowledge is power in the real estate game. Research the local market thoroughly. Understand trends, property values, and the reputation of different areas. Analyze the potential growth and development prospects of the neighborhood you’re interested in. By being well-informed, you can negotiate better and make informed decisions about the properties presented by your realtor.

3. Set a Realistic Budget:

One of the most critical aspects of any commercial real estate transaction is setting a realistic budget. Determine how much you can afford, not just in terms of rent or property cost, but also considering additional expenses such as renovations, utilities, and maintenance. Your budget should be flexible enough to accommodate unexpected costs while ensuring your business remains financially stable.

4. Organize Your Documents:

Commercial real estate deals involve a substantial amount of paperwork. Prepare your financial documents, business plan, and any other relevant paperwork in advance. Having these documents organized and readily available demonstrates your seriousness to the realtor and potential sellers. It also expedites the process, allowing you to seize opportunities swiftly.

By following these four essential steps, you’ll approach your meeting with a commercial realtor with confidence and a clear vision. Remember, the key to a successful partnership with your realtor is effective communication. Be open about your needs, listen to their expertise, and collaborate closely throughout the process. With the right preparation and a knowledgeable realtor by your side, you’ll be well on your way to securing the ideal commercial space for your business. Good luck!

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5 Compelling Reasons to Utilize a Commercial Realtor When Expanding Your Business https://meetsean.net/5-compelling-reasons-to-utilize-a-commercial-realtor-when-expanding-your-business/ https://meetsean.net/5-compelling-reasons-to-utilize-a-commercial-realtor-when-expanding-your-business/#comments Mon, 18 Sep 2023 20:11:20 +0000 https://meetsean.net/?p=395 Are you considering expanding your business and venturing into the realm of commercial real estate? While it might be tempting to navigate this journey solo, enlisting the services of a professional commercial realtor can significantly enhance your chances of success. In this blog post, we’ll explore five powerful reasons why leveraging a commercial realtor is...

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Are you considering expanding your business and venturing into the realm of commercial real estate? While it might be tempting to navigate this journey solo, enlisting the services of a professional commercial realtor can significantly enhance your chances of success. In this blog post, we’ll explore five powerful reasons why leveraging a commercial realtor is a savvy move for growing your business. Not only can they save you time and resources, but they also bring expertise, negotiation skills, and risk mitigation to the table.

1. Unparalleled Expertise and Market Knowledge

Commercial realtors are true experts in their field. They possess an intimate understanding of local real estate markets, providing you with crucial insights into trends, property values, and promising investment opportunities. Armed with this knowledge, you can make informed decisions that align with your business goals, ensuring you select the perfect property for your expansion.

2. Access to an Extensive Network

One of the most significant advantages of working with a commercial realtor is their expansive network. These professionals are well-connected within the industry, boasting relationships with property owners, sellers, and a host of other key players. This network can open doors to off-market properties, facilitate negotiations, and introduce you to essential partners like lenders, contractors, and property inspectors.

3. Time and Resource Savings

Growing your business is a time-consuming endeavor, and juggling real estate tasks on top of your core operations can be overwhelming. Commercial realtors can shoulder the burden of researching properties, conducting site visits, negotiating deals, and handling the necessary paperwork. This allows you to maintain your focus on running your business efficiently, while they efficiently manage the complexities of the real estate process.

4. Masterful Negotiation Skills

Negotiation is a fine art, and commercial realtors are skilled negotiators by trade. They advocate on your behalf, tirelessly working to secure the most favorable terms possible. Whether it’s negotiating lease agreements, purchase prices, or contract details, their expertise can save you money and protect you from costly missteps in the negotiation process.

5. Effective Risk Mitigation

Real estate transactions are rife with complexities, legal considerations, and potential pitfalls. Commercial realtors are well-versed in navigating these challenges and can help you mitigate risks effectively. Their involvement in due diligence ensures you have all the necessary information to make sound investment decisions, safeguarding your business from unforeseen issues associated with the property.

In conclusion, when you’re in the midst of growing your business, collaborating with a seasoned commercial realtor can be a game-changer. Their expertise, vast network, time-saving capabilities, negotiation prowess, and risk-mitigation skills can all contribute to a seamless and prosperous expansion. So, don’t hesitate to reach out to a commercial realtor when venturing into the world of commercial real estate—your business’s success may depend on it.

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Choosing a Mortgage Broker: 8 Essential Factors to Consider https://meetsean.net/choosing-a-mortgage-broker-8-essential-factors-to-consider/ https://meetsean.net/choosing-a-mortgage-broker-8-essential-factors-to-consider/#comments Tue, 15 Aug 2023 20:15:20 +0000 https://meetsean.net/?p=374 Are you ready to make your dream of owning a home a reality? One of the crucial steps in this journey is selecting the right mortgage broker. With the right broker by your side, you can navigate the complex world of mortgages and secure the best deal that aligns with your financial goals. In this...

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Are you ready to make your dream of owning a home a reality? One of the crucial steps in this journey is selecting the right mortgage broker. With the right broker by your side, you can navigate the complex world of mortgages and secure the best deal that aligns with your financial goals. In this blog post, we’ll dive into the top eight factors you should consider when choosing a mortgage broker.

1. Experience Matters

Experience is key in the mortgage industry. Look for a mortgage broker who has a proven track record and a wealth of experience. An experienced broker can leverage their insights to guide you through the process smoothly and find the best mortgage options that suit your needs.

2. Check Their Reputation

Before you commit to a mortgage broker, take the time to research their reputation. Look for online reviews, testimonials, and ask for references. Positive feedback from past clients is a strong indicator of the broker’s reliability and commitment to customer satisfaction.

3. Verify Their Credentials

Ensure the mortgage broker is properly licensed and holds the necessary credentials. Look for certifications like the NMLS (Nationwide Multistate Licensing System), as it demonstrates their adherence to industry regulations and standards.

4. Lender Network Matters

A well-connected broker has access to a broad network of lenders, which can be a game-changer in finding the right mortgage fit. Brokers with extensive lender connections can offer you a variety of mortgage options and potentially secure better terms.

5. Effective Communication is Key

Choose a mortgage broker who excels in communication. Clear and open communication is vital throughout the mortgage process. A broker who takes the time to explain complex terms and processes in a straightforward manner can make the entire experience less overwhelming.

6. Transparency Builds Trust

Transparency is non-negotiable. A trustworthy broker will be transparent about their fees, commissions, and any potential conflicts of interest. This transparency not only builds trust but also ensures you have a clear understanding of the financial aspects.

7. Stay Informed with Market Insights

The mortgage landscape is dynamic, with interest rates and market trends constantly changing. A knowledgeable broker who stays updated with the latest market insights can guide you toward the most favorable mortgage options and terms.

8. Personalized Guidance

Every individual’s financial situation is unique. A reputable mortgage broker will take the time to understand your specific needs and goals. By offering personalized guidance, they can recommend mortgage solutions that align with your circumstances.

In conclusion, selecting the right mortgage broker is a critical step in your homeownership journey. Keep these eight factors in mind as you conduct your research and interviews. With an experienced, reputable, and communicative broker on your side, you’ll be well-equipped to secure the ideal mortgage that turns your dream of owning a home into reality.

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12 Ways to Lower Your Homeowners Insurance Costs https://meetsean.net/12-ways-to-lower-your-homeowners-insurance-costs/ https://meetsean.net/12-ways-to-lower-your-homeowners-insurance-costs/#comments Tue, 06 Dec 2022 13:37:31 +0000 https://meetsean.net/?p=257 The price you pay for your homeowners insurance can vary by hundreds of dollars, depending on the insurance company you buy your policy from. Here are some things to consider when buying homeowners insurance. 1. Shop Around It’ll take some time, but could save you a good sum of money. Ask your friends, check the...

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The price you pay for your homeowners insurance can vary by hundreds of dollars, depending on the insurance company you buy your policy from. Here are some things to consider when buying homeowners insurance.

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/

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Nine ways to lower your auto insurance costs https://meetsean.net/nine-ways-to-lower-your-auto-insurance-costs/ https://meetsean.net/nine-ways-to-lower-your-auto-insurance-costs/#comments Tue, 29 Nov 2022 14:05:00 +0000 https://meetsean.net/?p=259 One of the best ways to keep your auto insurance costs down is to have a good driving record. 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...

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One of the best ways to keep your auto insurance costs down is to have a good driving record.

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.

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Top 4 Flood Insurance for 2022 https://meetsean.net/top-4-flood-insurance-for-2022/ https://meetsean.net/top-4-flood-insurance-for-2022/#comments Tue, 01 Nov 2022 13:41:10 +0000 https://meetsean.net/?p=230 BEST OVERALL GEICO GET A QUOTE 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...

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BEST OVERALL

GEICO


GEICO

GET A QUOTE

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


USAA

GET A QUOTE

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


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


Better Flood Insurance

GET A QUOTE

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.

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Top 3 Life insurance for Seniors https://meetsean.net/top-3-life-insurance-for-seniors/ https://meetsean.net/top-3-life-insurance-for-seniors/#comments Mon, 31 Oct 2022 15:30:00 +0000 https://meetsean.net/?p=184 Get the coverage you need at any age with these top 3 life insurance companies! 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...

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Get the coverage you need at any age with these top 3 life insurance companies!

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/

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4 Best Boat Insurance Companies of 2022 https://meetsean.net/4-best-boat-insurance-companies-of-2022/ https://meetsean.net/4-best-boat-insurance-companies-of-2022/#comments Wed, 21 Sep 2022 19:59:22 +0000 https://meetsean.net/?p=216 BEST OVERALL Allstate GET A QUOTE 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...

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BEST OVERALL

Allstate


Allstate

GET A QUOTE

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


Progressive

GET A QUOTE

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


Nationwide

GET A QUOTE

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


Markel

GET A QUOTE

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.

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Don’t let your veteran or elderly loved one go without insurance or Medicare! https://meetsean.net/dont-let-your-veteran-or-elderly-loved-one-go-without-insurance-or-medicare/ https://meetsean.net/dont-let-your-veteran-or-elderly-loved-one-go-without-insurance-or-medicare/#comments Tue, 06 Sep 2022 15:42:37 +0000 https://meetsean.net/?p=201 Veterans and elderly Americans are two groups that tend to be particularly vulnerable to financial insecurity. In addition to being more likely to have a disability, veterans and the elderly often have less access to traditional forms of insurance, like employer-provided health insurance. As a result, they are more likely to face costs associated with...

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Veterans and elderly Americans are two groups that tend to be particularly vulnerable to financial insecurity. In addition to being more likely to have a disability, veterans and the elderly often have less access to traditional forms of insurance, like employer-provided health insurance. As a result, they are more likely to face costs associated with medical conditions that are not covered by their health insurance. Medicare is an important source of coverage for the elderly, but it does not cover all medical expenses.

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.

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