Understanding Insurance Before You Buy



You can’t control every aspect of your life, which is one of the main reasons insurance companies exist. To give you a basic definition, insurance is a way of avoiding the risk of potential loss. Companies that sell insurance sell many types although rates and coverage can vary depending on the company. When you choose insurance, you pay a monthly amount called a premium. Also, you have the choice of a deductible. For example, if your deductible is $100 and you have medical costs of $500, the insurance covers $400. To better understand insurance, it may be beneficial to consider each type available.

Health Insurance covers medical expenses that may be caused by an accident or illness. Most people have some sort of health insurance plan in place. Depending on the coverage you get though, your health insurance may not cover every illness or injury that you have. And, for most companies, you are only covered after your medical expenses are higher than the deductible. A type of medical insurance is dental insurance which is typically considered optional. Dental insurance helps people who may experience sudden dental hardships and be unable to pay.

Auto insurance is any type of insurance that’s purchased for cars, trucks, and other automobiles. The main benefit of auto insurance is coverage against any losses due to traffic accidents. If your ensured vehicle is damaged due to the accident, the insurance company pays for the repair costs. The company will also provide a replacement if the vehicle is totaled in the accident. In many countries, purchasing a policy through an auto insurance agency is required by law, although you have a choice with companies. You can compare rates and amount of coverage to find the best option for you.

Life insurance is frequently purchased by the “breadwinner” in the family. According to the insurance contract, if the insured person dies, the company pays a certain amount of money to the family. There are two main types of life insurance: protection policies and investment policies. Depending on the type of payment desired or the age of the person being insured, you may decide which option works best for you.

Pet insurance is less common, but can be purchased. If your pet is injured or has an illness, the insurance covers the veterinary expenses. Some policies are also designed to pay if the pet dies, becomes lost, or is stolen. Most areas have some sort of pet insurance, but it’s one of the lesser purchased types today.

Travel insurance is a type of insurance that’s designed to cover financial or any other losses while traveling either abroad or even within your own country. This type of insurance is most commonly used to cover theft, loss, delayed luggage, emergency costs, legal assistance, accidental death, and even overseas funeral expenses.

These are the major types of insurance available today. While some are required by law, others like pet or travel insurance are optional and not purchased by the majority of people. Discuss coverage options with an insurance agent to learn more and find the best option for yourself.

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Real Estate Investment Clubs: All You Want To Know

real estate


A Real Estate Investment Club is essentially a group of people who meet regularly and give opportunities to investors and other real estate professionals to network with each other and learn. Such clubs can be a source of useful information for professional as well as novice real estate investors. If you are in the market for Southern California Homes, a local group could connect you with an agent who specializes in that type of property. Good real estate investment clubs can act as a great platform for reputed builders, lawyers, brokers, accountants and other related professionals to come together.

While there are some clubs that aim only at networking with real estate professionals, there are others that intend on selling product to members. There may be visits by real estate Gurus who stage a sales pitch. This way the clubs earn as much as 50% of the sale price of the product.

There is no denial that there is value in networking however it is wise to know the purpose of the club that you wish to join. It is recommended that you join a club only after you attend a few meetings and make out the motive of the founders of the club. Find out who the founding members of the club are and what their philosophy behind the foundation of the club is. Has the club been established to act as a forum to network or does it plan to sell? Ensure that what the club offers is what you want to get from the club.

Besides knowing the founders of the club and the intention behind its establishment, there are certain other questions, the answers to which should be known to you before you pay your subscription and join the club.

Let us see what are they?

1. What is the main motive behind setting up the club: networking or education?

2. Is it a profit or a nonprofit club? Either ways, the structure should be a legitimate one.

3. Does the club deal with the kind of real estate you want to focus on?

4. Are the investors in the club serious ones or are they newbies? You are more likely to learn from seasoned investors than amateurs.

5. How well have the members of the club done with time?

6. What does the club charge for membership and does the club receive a commission from the speakers who make sales pitches? If yes, then the information from those speakers may be biased.

A real estate investment is one of the biggest investments in your life. For this reason, a number of members of the club wish to enter into partnerships to feel safe about their investments. Partnerships also increase the purchasing power of each individual when the partners pool in their resources to buy a bigger estate. However, with an increase in cases of fraud in real estate, it is wise to know the background of the person you intend entering into a partnership with and also the idea behind his offer to you. A number of people in the club may promise to find you a profitable deal in exchange of some part of the income from the property. Such offers should be thoroughly scrutinized.

There are no two ways about the fact that a Real Estate Investment Club provides you great opportunity to learn the nuances of real estate investments. Not only are they good places to learn but also to strike profitable investments and partnerships.

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