Teen Driver!

The time has come and your teenager is finally old enough to drive. It's bad enough that you have to worry about safety issues, pushing your foot into the imaginary passenger brake, and holding on for dear life while she's putting in her practice time but have you stopped to think about the issue of insuring your teen driver? There are several ways for a teenage driver to satisfy auto insurance laws without having to purchase a completely separate policy. Every state requires every driver to have some form of auto insurance to drive legally. I don't think your teen driver is an exception to this rule.

Some insurance companies assign your teenage driver to the vehicle with the highest rating/risk. Which can cause your auto insurance policy to double in premium if you happen to own a sports car or a luxury automobile. Get with your agent before making the decision to continue business with them when your teenager is ready to be added to the policy. It might be better to purchase a vehicle for them and have them purchase a separate policy for themselves. It's important that the vehicle the teen is driving be a sensible one like a sedan or a vehicle with an industry reputation for low cost repairs. This will also help keep the cost of the policy down.

There are many discounts to help you lower the cost of insuring your teen drivers: good student discounts, completing a driver's education class, vehicles with passive restraints, and anti-theft devices. Make sure you check with your insurance agent to see what discounts are available for your teen driver. Don't get stuck paying full price when you can apply many discounts to help with the high premium.

Is it really worth changing your insurance agent?

There are several reasons for a person to consider switching insurance companies. Doing it for fun, I assure you is not one of them. Maybe the rates from other insurance companies are more affordable.

Maybe you have been with your insurance company for over five years and you personally know your agent, as he was a friend or a friend of the family. You trusted him and you knew that you were in good hands, but you also knew you were paying a little higher premiums than other people you had talked to, but since you knew your agent and felt comfortable with him, you were okay with that.

However, he leaves the company, it was a prime opportunity for you to take a look at some different options and reevaluate your situation and WOW, what you found out was....You should have been comparing rates and coverage way before he left the company. You were paying substantially higher rates than you needed to be. Doing business with a friend can be tricky like that. You want to be loyal, but you also want to make sure you are getting the best bang for your buck. Be careful.

I assure you that if you end up saving a substantial amount of money then it's totally worth every second. If you are switching insurance companies and you have more than one policy at your current provider, consider the discounts that may be applied to your policies for having multiple policies with one provider. It may make sense to move not one but all of your policies to the new provider to continue receiving the multiple policy discount. You can save over $250 a year on just your auto insurance for having a multiple policy discount.

So, do your research and make sure you are saving and not spending more than you should for your coverage.

Should I consider protection for my vacation?

You spend most of the year saving for this vacation. Why not make sure you are covered if something unexpected happens. Don't let all your money and dreams disappear. Here is what travel protection insurance will do for you.

Travel protection insurance will shield consumers from specific financial hardships due to various perils they may encounter while traveling. Travel insurance can address everything from lost luggage to legal troubles arising from a car accident in a foreign country. It is very important to know when this type of coverage is necessary, and how much is needed for you trip.

Your homeowners' insurance may cover some expensive belongings that are lost during travel, including jewelry, camcorders and laptops. As of 2011, according to the Better Business Bureau, airlines provide financial coverage of up to $2,500 for baggage that is lost or destroyed in transit. Travelers should also check with their insurance carriers to find out what their existing policies cover before shopping for travel-protection insurance.

What if you are considering an international vacation, should you still gett travel insurance?Consumers who travel abroad face a number of potential problems, including cruises canceled by the cruise line, unexpected health issues, bad weather, delays, lost baggage and sometimes even the need for immediate medical attention. However, these perils can also occur during domestic trips and when homeowners' insurance does not cover them, travel insurance does.

You should assess the risks associated with any given trip. If the trip entails a cheap coach-class flight for under $100, travel insurance is unnecessary due to the low amount of money at risk in the case of a canceled flight. However, if the trip involves a two-week cruise, a canceled trip can cost thousands of dollars and quickly becomes worth the additional expense of a trip-cancellation policy. Any flight may justify travel insurance for baggage protection when vacationers are carrying expensive laptops or cameras valued at over $2,500. Rental-car liability coverage is also recommended for people who intend to drive while traveling abroad.

You should first contact your homeowners' insurance company to see if your policy covers any relevant potential problems. This will determine what additional coverage is needed, which may be provided by your insurer at a discount. Next in priority should be a travel-insurance company, which will generally offer the most comprehensive coverage. Credit card companies may also offer travel insurance, especially for reservations that are paid for by their credit card.

It's a vacation! Make sure you are covered!