Car insurance is all about risk, and modifications can sometimes increase the risk of an accident or theft.
Some car modifications are riskier than others, and your insurance company will likely have different opinions on what is and isn’t risky. Here are three car modifications that you should definitely inform them about:
Upgrading Your Engine Control Unit (ECU)
As anyone who has done it knows, upgrading your engine control unit (ECU) can be a great way to improve performance and fuel efficiency.…
Standard homeowners’ coverage, which the insurance industry refers to as an HO-3 policy, might be inadequate for your old home. The inadequacy risk is especially high if the home still has most of its original materials. Thus, you should consider alternatives to the HO-3 policy or supplement the policy with add-ons. Below are some of the options available to you.
HO-8 Policy
An HO-8 policy targets properties whose replacement values exceed their market values, as is the usual case with older homes.…
Your auto insurance rates will likely increase after an accident. The rate increase is not a punishment from insurance companies. Rather, post-accident rate increases reflect the changed circumstances and new risk determination. Below are factors determining the possibility and extent of a rate increase after an auto accident.
Accident Cause
Your auto insurance rates are sure to rise if you cause an accident. Even a single at-fault accident increases your rates.…
Cyber-attacks are not a new phenomenon. Yet, there are many misconceptions people have about them. And one of the widely spread beliefs that some people assume is that hackers solely target large corporations that make millions of dollars in profits, but this is incorrect. Admittedly, big companies are at a higher threat of cyber-attacks. Nonetheless, this does not mean that their smaller counterparts are exempt.
If anything, since small businesses do not have tremendous budgets as large corporations do, the small businesses tend to be at a higher threat of cybercrimes due to the lack of adequate cyber protection.…
When you’re shopping for homeowner’s insurance, you’ll find that the premiums vary widely depending on the coverage limits as well as the carrier that you’re working with. However, while it’s important to know that your coverage selections and carrier will affect your premiums, it’s equally important to understand that there are factors that can contribute to those costs. For example, when it comes to your liability coverage, it’s important to know what can affect your premiums.…
Business owners must always take proactive measures to insulate their businesses from foreseeable risks and losses. Commercial general liability insurance coverage is one of the most basic safety nets that companies use to protect themselves from legal liability and incurring losses that can sink the business. Commercial general liability insurance also protects entrepreneurs by covering financial expenses arising from general liability involving their business practices. This ensures that business operations do not stall because of financial constraints.…
Semi-trucks play an important role in delivering consumer goods across the country. As an owner-operator, you are responsible for making sure that your truck has the proper insurance coverage. Commercial truck insurance can be complex and expensive.
Evaluate each policy to determine if the following vital features are included before you invest in insurance coverage for your semi-truck.
1. OEM Replacement Parts
A quality commercial truck insurance policy will help cover the cost of repairs needed to keep your semi-truck on the road.…
When you have reached a particular age or happen to come down with certain ailments, you become eligible to receive Medicare health insurance. Medicare is a federal program designed to provide medical coverage to segments of the population who may no longer hold employee-sponsored coverage. Once you qualify for Medicare, you are usually sent a red, white, and blue medical card that is to be presented to the doctor when you need to receive care.…
Business owners often have to prepare for the unexpected. Thus, it is no surprise that business owners are among the largest beneficiaries of insurance policies. The policies help businesses prepare for future foreseeable liabilities that the business may incur in dispensing services to customers. General liability insurance coverage covers any expenses incurred from performing general or normal business operations. Thus, a business with no general liability coverage must pay for general costs incurred out of pocket.…
No matter how much you are struggling to keep up with daily needs, it is your responsibility to get auto insurance if you own and drive a vehicle. The reason why is because the majority of state laws make it illegal to drive without the coverage due to the possibility that you can cause a collision. The price of auto insurance can vary, as it depends on specific factors regarding each individual that applies for the coverage.…
