Florida, the land of sun-kissed beaches and vibrant sunsets, is also facing a formidable storm – a crisis brewing within its home insurance market. Homeowners across the state are grappling with skyrocketing premiums, non-renewals, and limited policy options, leaving them feeling vulnerable and exposed. This article delves into the complex factors fueling this turmoil, its impact on residents, and the ongoing efforts to navigate through the choppy waters. The Perfect Storm: A Confluence of Challenges Several factors have converged to create the perfect storm in Florida’s home insurance market ..read more

Ah, life insurance. A pillar of financial security, a safety net for loved ones, and… a potential tax tango? While the primary purpose of life insurance isn’t to enrich Uncle Sam, there are indeed scenarios where this financial instrument waltzes with the taxman. Buckle up, folks, because we’re about to dissect the nitty-gritty of life insurance taxation. Death Benefit: Generally Tax-Free, But… Let’s start with the good news: the death benefit, the core payout of most life insurance policies, is generally exempt from federal income taxes. That’s a whopping $768 billion in tax-free payouts in ..read more

According to Statista, the cost of long-term care in the United States ranges from $20,280 to $108,405 annually. And, the US bank reports that, at some point, 70% of Americans aged 65 and above will need long-term care. That makes long-term care a considerable expense that touches almost every family, and only a few Americans can cover such out-of-pocket costs. That’s where long-term care insurance (LTCI) comes in to help offset these old-age expenses. What Is Long-Term Car Insurance Coverage? Long-term care insurance is a type of coverage that offers elderly care insurance plans. It’s designe ..read more

With the rise of e-commerce sites like eBay, it has become easy to find and purchase collectibles. Again, you may inherit valuable vintage or antique items from your parents or grandparents. These items are usually expensive and irreplaceable, hence the need to protect them against theft, damage, or loss. Sadly, common insurance policies like homeowners or renter’s insurance limit or exclude coverage for collectibles. That may leave your artwork and other collectibles unprotected, creating the need to purchase additional coverage to protect your belongings. That’s where collectible insurance c ..read more

In the dynamic world of business, there’s no shortage of unforeseen incidents that can disrupt normal business operations. Think of natural disasters, fires, equipment breakdowns, and pandemics like COVID-19. Such events can bring operations to a screeching halt and threaten a business’s financial stability. Business interruption insurance is an important risk management tool designed to help businesses weather the storm of adversity. It provides a financial safety net to help businesses bounce back from unexpected events and ensure business continuity. What Is Business Interruption Insurance ..read more

According to the Pew Research Center, about 42.5 million Americans live with disabilities. Leading causes of disabilities in the US include accidents and illnesses like cancer, diabetes, arthritis, back pain, and others. Most of these causes are not work-related, hence not covered by the workers’ compensation insurance provided by employers. That creates the need for disability insurance to help protect your income if you’re unable to work due to a disability. What is Disability Insurance? Disability insurance is also known as income protection insurance or disability income insurance. It’s de ..read more

Commercial and private insurance are types of insurance coverage that help businesses and individuals mitigate risk and protect their finances. Commercial insurance is meant for entrepreneurs and helps businesses and organizations protect their business assets. Private insurance is for individuals and helps you protect your finances and personal assets from unforeseen events. In this post, we explore the key differences between commercial insurance and private insurance. Armed with that knowledge you can shop for the right insurance coverage that fits your needs. Commercial Insurance vs Privat ..read more

The freelance economy has grown big. According to Exploding Topics, over 73 million freelancers in the U.S. churn out $1.3 trillion in annual earnings. These self-employed professionals and independent contractors offer their services online. Hence, they do not enjoy the same financial protections or job security benefits provided to traditional employees by employers. That leaves them solely responsible for their financial security and business risk management. That’s where freelancer insurance can help.  What Is Freelance Insurance? Freelancer insurance refers to different insurance pol ..read more

Road or air trips come with unexpected risks, like delay or cancellation, which may result in surprise bills. Travel insurance is a type of insurance coverage that helps protect a traveler from such unexpected events. Your travel policy covers a range of unforeseen travel-related events, hence cushioning you from financial losses and damages. Thus, you can have peace of mind while traveling and enjoy your domestic or international adventure. What Does Travel Insurance Cover? Travel insurance is designed to provide financial protection for unexpected travel expenses. Typical travel insurance co ..read more

A home is one of the most important assets most US residents strive to own. According to Forbes, Americans pay an average of $378,800 to own an existing house, and $496,800 for a new home. That’s a big-ticket purchase! So, the natural urge to do your best to protect your property from unpredictable perils is wise and justifiable. That’s where homeowners insurance comes in. In this article, we tell you what home insurance is and what it covers so that you know what to expect when buying a homeowners insurance policy. What Is Homeowners Insurance? Home insurance is a type of property insurance t ..read more