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You Can Still Make a Claim
Insurance Holders Should Be Protected
FiLife Take: The financial crisis hurt publicly traded insurance companies’ shares, but insurance experts say owners of property, life and annuity policies shouldn’t be worried about making claims. However, borrowing difficulties could lead to higher premiums.
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AIG: Too Big to Fail
It’s Good to be Too Big to Fail
FiLife Take: After letting Lehman Brothers file for bankruptcy, the federal government stepped in to save AIG Tuesday. But this bailout isn’t the end of the credit crisis.
You Probably Need Renters Insurance
I’m living pretty dangerously while interning at FiLife this summer.
I confess: I rented an apartment for the summer and… I did not get renters insurance. This was foolish for several reasons.
1. My laptop is by far the most valuable thing I own. Yet I usually leave this prized possession lying on my bed in my walk-up three bedroom apartment. I just cross my fingers that my roommates will remember to lock the door when they leave.
2. My culinary skills aren’t great. I started a small microwave fire once…or twice. If one of these fires ever gets out of control, I’ll be responsible for destroying the valuables of everyone else who lives in the building, in addition to my own.
3. I really should have learned in my first year of law school that if a visiting friend falls down the stairs and hurts herself, she can sue me.
Luckily, none of these things happened while I was uninsured. I plan to take out a renters insurance policy when I move into my new place this fall.
So how do you know if you need renters insurance? It’s pretty safe to say that if you’re a renter, you need renters insurance.
Home Insurance Q&A
Did you know that your home insurance premium will probably go up after you file a claim? One FiLife user found out the hard way. Hardie’s kitchen flooded almost three years ago and MetLife paid for the repairs. Now Hardie’s hunting for a new policy and the premiums seem steep. He’s mad.
Enter the FiLife Gurus.
According to Ali, our real estate guru, this is business as usual for home insurance companies. “The best way to keep your costs down is to take a higher deductible on your next policy,” she says. “I realize that hurts your wallet too, but that’s probably what you’re stuck with!”