A cosy country cottage with a thatched roof is a very appealing buy if you’re looking for a rural home. Before you fall in love with one, it’s wise to think about how to maintain and insure such a special house.

Fortunately, some specialist Home Insurance policies do cover unusual properties such as those with timber frames or thatched roofs. So if you’re thinking about buying one, get a Home Insurance quote and see how it compares to a house with a more conventional roof.

A good thatched roof can last for years, and won’t necessarily require a lot of maintenance. If you’re looking at a house with a thatched roof, try to get a good idea of its condition from a professional before you put in an offer on it. A neat thatch isn’t necessarily a good one, and even if it looks a bit of a mess it could be repaired rather than re-thatched. Call in an expert, who can assess how much repairs will cost and how long they’ll take.

Once you’re the proud owner of a thatched roof, you’ll need to take care of it. Not only will TV aerials and satellite dishes look out of place, but they might also damage the delicate roof.

Don’t try and fix problems yourself, and don’t let anyone who’s not experienced in caring for thatched roofs walk on it or try to do repairs.

Thatched roofs used to have a reputation as a fire risk, and to minimise this you’ll need to take the usual precautions that you would in any house to prevent fires. Your local fire brigade will be able to give you advice on this.

It’s worth remembering, though, that you shouldn’t build chimneys that will pass close to the thatch without taking expert advice. Any chimneys must be kept in good condition – check if they need repairing or repointing. If you’re using a blow torch to burn paint off windows or woodwork, don’t let it go anywhere near your roof. Look into the possibility of laying a fire retardant covering beneath the thatch.

As with any house, don’t light a barbecue or have a bonfire to close to your property, and encourage your neighbours to follow suit.

Invest in smoke alarms, and make sure you fit them in the roof space as fires can burn slowly and might not become obvious for a few hours. Think of your smoke alarm like an early warning system, and make sure it’s tested frequently.

photo by elle brown

When you move into your own place, you move all your worldly goods and, most precious to your heart, your family into it.

Do you want to protect it? Of course you do.

www.istockphoto.com/dny59

Home insurance comparison sites profess that home insurance is absolutely essential, but just how essential is it?

In the modern world, we’re faced with many dangers, and one of the biggest threats to our family’s safety is intrusion into the home.

Theft isn’t a construct of modern times; it’s an age-old problem:

“If a man steals an ox or a sheep, and kills it or sells it, he shall repay five oxen for an ox, and four sheep for a sheep. If a thief is found breaking in and is struck so that he dies, there shall be no bloodguilt for him, but if the sun has risen on him, there shall be bloodguilt for him. He shall surely pay. If he has nothing, then he shall be sold for his theft. If the stolen beast is found alive in his possession, whether it is an ox or a donkey or a sheep, he shall pay double. If a man causes a field or vineyard to be grazed over, or lets his beast loose and it feeds in another man’s field, he shall make restitution from the best in his own field and in his own vineyard.”

Exodus 22:1-31

While the passage above talks about the repayment of a thief’s debt, the era in which we live requires us to deal with the fall out of theft very differently. Over the years, man has come up with an industry that compensates the victims of theft and, if the thief is caught, punishes and (hopefully) rehabilitates the thief. It’s now necessary because of the very nature of the communities we live in; where in Christ’s time and many hundreds of years afterwards, we tended to live in small communities, we now often do not know even our next door neighbours.

Think back to 1 Timothy 5:8, who said: “But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever.” In that spirit, providing for your family means working hard to protect them by whatever means possible.

It’s therefore necessary to make sure your family home is as secure as possible. The doors and windows should be sturdy and have good locking systems. The house shouldn’t be concealed by fencing or foliage, and good burglar alarm and security light systems are highly recommended, if not essential.

When that fails, what’s your next means of protection? Quite simply, it’s homeowner’s insurance. Whether you like it or not, you’re safer to have it than not in this day and age. Or so we’re told.

My quandary, though, is deciding whether or not it’s fair to say that buying into a homeowner’s insurance plan is simply not trusting God to provide. You can buy varying degrees of coverage, depending on what you can afford or what you’re willing to pay for this form of protection. By doing this, are you merely trying to insure yourself against God’s will? We all know that this just isn’t possible, so why do it?

It’s a really tough one. But in the end, we must reconcile with ourselves the need to protect our family in the often-hostile world in which we live. We must strike a balance between peace of mind and how we believe Christ wants us to live in the world he created for us. Yes, insurance is a construct of man, but crime is a sin and a burden mankind must bear and deal with best it can.

This is a guest post by moneysupermarket.com

Many people think of financial security as having a lot of money. This isn’t necessarily true.

As is the case with devastating health conditions, money in the bank can go quickly when expenses get out of hand.

Or consider the case of trying to save money by buying cheaper insurance than one may need.  When extensive damage to a home comes from fire or floods, and your cheaper insurance doesn’t provide the coverage necessary, you will realize that expenses can add up quickly.

Insurance is a “Spend a Little to Gain a Lot” Category

Sometimes it makes sense to spend more to save money, but with insurance, you really end up spending a little on something that helps provide a lot of security in case something goes wrong.

Benefit of Health Insurance

When a major medical catastrophe hits, proper health insurance can cover much of the cost. It’s easy to think, “It won’t happen to me”, but consider the question, “What if it does?”.  Where would you be financially if you needed a major medical procedure and didn’t have the right amount of insurance – or none at all?

Benefit of Car Insurance

Consider car insurance.  It is an area where the proper insurance can help to provide financial security. With the proper car insurance, you are covered whether it is your fault or not, and medical bills that go into the thousands in a short time can also be completely covered.

Benefit of Life Insurance

There are many misconceptions about life insurance. If you have life insurance, do you know how much it would provide for your family if you lost your life today? Some life insurance packages have a lot of benefits now, but very few when you actually pass away. It is important to look at all aspects of the package.

Benefit of Homeowner’s Insurance

Finally, house insurance is an area where people often skimp and want to save money. When devastating damage does occur, standard house insurance will not always cover the category called ‘acts of god’. But, when major damage is done and your house has become unlivable, this is when you need good house insurance the most.

A Well-Rounded Financial Plan

Proper financial planning is the combination of many important details. Emergency funds are a good place to start. Other areas necessary to a well-rounded financial plan include: investments, a job that provides adequate cash flow to cover expenses, proper budgeting, a spending plan, a savings plan, and a diversification of income if possible.  These are but a few aspects that help provide security of a financial plan.

Although several aspects to financial security do exist, the proper insurance will be part of the financial planning process regardless of the economy. Those that consider the possibilities that insurance is designed for will be reassured and better prepared if disaster strikes.

This article is contributed by Elijah Wells-Collin of cheapinsurance123.com.

Are you paying too much for term life insurance?  When was the last time you checked whether you could get a better rate on your term life insurance policy?

Term life insurance rates have been dropping in the last 15 years, and continue to do so, as life expectancies rise and interest rates are currently low. If you have term life insurance, chances are you’d probably find a cheaper life insurance policy or a larger coverage for the same amount of premium!

Term life insurance is the simplest form of life insurance available. It offers financial protection for your family against your unexpected demise. Term life insurance, as the name implies, is active for a specified term period of say, 10, 20 or 30 years. During this time, premiums must be paid regularly or the policy will lapse. There is no cash value or interest component attached to this type of policy and therefore it is one of the cheapest life insurance available.

Here are a few tips for getting better life insurance rates:

• Cash in on your youth while you can. The younger you are, the better your chances are for getting the best life insurance rates. You can choose a term life insurance that locks in those rates (called Guaranteed level term life insurance) for the entire term period! That’s one way to make sure you get cheap life insurance. Because life insurance rates have declined, you might be able to find a great deal with a free rider.

If you are young, avoid purchasing a life insurance policy through your employer. The pricing of group life insurance policies factors in the average age of the entire group. This means your premiums help to cover premiums of those who are older than you. You’ll wind up paying more than you would for an individual term life insurance policy.

• Do you have an existing life insurance policy? Increasing life expectancies and the competitive nature of the life insurance industry is constantly pushing prices down. This is why purchasing a new life insurance policy may work out to be cheaper than keeping an existing policy. Besides, with Internet life insurance quote providers, it’s so easy and convenient to compare life insurance rates and see whether it’s worth pursuing a change in policy.

• You’re paying more than “preferred” rates on an existing policy. Even with pre-existing health conditions, you may be able to find life insurance companies that favor your specific health conditions.

The life insurance industry is competitive and there are some companies who look more closely at the details of your health than others. Say, you’re slightly overweight with not too bad a cholesterol problem. There are life insurance companies who would differentiate you from those whose heart health concerns have more serious implications. Such companies may offer a cutting edge difference on the premiums you need to pay.

• If you have stopped smoking for more than a year. Ask your life insurance carrier to re-assess your policy because you have quit smoking, or look for another carrier. Most life insurance companies offer better life insurance rates to those who have quit smoking for more than a year.

• If you have lost weight or are in better health now, than you were when you purchased your existing policy. You should get your life insurance carrier to re-assess your existing policy and see how that rate compares to the life insurance rates of other companies if you were to purchase a new policy.

Different life insurance carriers use different criteria for their underwriting process. An occasional cigar or being overweight can knock off your chances for getting a good life insurance rate with some companies. But you’ll find others can be more favorable. That’s why the more you shop for life insurance the better your chances are of getting best life insurance that suits your particular situation at the most affordable price.

This is a guest post written by Denise Mancini from AccuQuote.com

There are a number of ways to save money on insurance rates. This list grows even more when you consider the specific ways to save on various types of insurance (auto, health, home, life, etc). Today, we will take a look at 5 general ways that you can save money on insurance coverage.

1. Shop Around For A Better Rate

It can be very easy to just stick with the same insurance company year after year. Especially if you have not had a bad experience with them! However, you may be costing yourself hundreds of dollars a year by not shopping your insurance rates.

There are various websites that will offer basic price comparisons, or you can even contact your potential insurers and ask for a more specific quote. Just be sure that the quotes are all based on the same variables, so that you can perform a true comparison.

2. Increase Your Deductible

No matter what type of insurance you are dealing with, this is a surefire way to decrease the cost of coverage. The simple reason is because now the insurance company is on the hook for a smaller portion of your losses.

Before you increase your deductible, make sure that you have an emergency fund that is large enough to make up the difference, and cover any out-of-pocket costs that you are now responsible for.

Before you decide to make this change, call up your insurance carrier and find out if it’s worth it.

3. Combine Your Policies

Most insurers will offer a discount if you choose to have all of your various policies with one company. There is usually a discount for having multiple cars, and then adding your homeowner or renter’s insurance, life, and other types of coverage under one account.

This is for several reasons. The first reason is that they are now making a lot more money off of you, and therefore are willing to offer you a discount in order to entice you to say.

Second, they are saving money by being able to add multiple policies, but only one new customer – they can now send out one communication instead of four!

Another reason for the discounts is the fact that it will be much harder for you to move all of your policies to a new company. Therefore you may not be as willing to put in the necessary work for comparison shopping.

4. Work Directly With The Insurer

Using an insurance agent can help when comparing rates and types of coverage. They can also be helpful when it comes to determining if a particular insurer is right for you. However, all of that comes at a price. The insurance agent will earn a commission for their services, and this is usually added to the cost of the coverage.

Not all companies will sell directly to consumers, but there are some that will. Going this route does not guarantee the lowest rate, but it’s worth a shot to check.

5. Don’t Use It

I know that sounds silly, but the more you use your coverage, the more you risk your premiums rising. If you really think about it, insurance is one of those things that you buy and hope to never have to use. This also goes back to the higher deductibles – this way you won’t have to report smaller claims (just take it out of your emergency fund)!

photo by David Hilowitz

Reader Questions

1. What have you done to save money on insurance?
2. How often do you compare rates?

Everyone wants to see their loved ones protected, happy, healthy, and safe.  In our society that frequently calls for adequate insurance coverage, because you never know when something bad might happen.

Home, health, auto, life, personal property…the list of possible insurance policies you may have to carry goes on and on.

In order to ensure our family’s ongoing security we work hard, and search for the best possible price on an insurance policy that we can get without compromising quality or coverage.

 But there is one area some people forget about when choosing what type of insurance to get–long-term care insurance.

What Is Long-Term Care Insurance?

It’s generally something we’d really rather not think about. After all, long-term care means someone is incapable of doing things for themselves and must rely on others. Every day things like bathing, dressing, walking, getting in and out of bed, or back and forth to the doctor are long-term care issues.

These are the basic activities of daily life, called ADL’s in the health care industry. Long-term care can be carried out in the home or in a nursing home or assisted living facility. Having a long-term care insurance policy will ensure we receive the care that’s needed.

Who Needs Long-Term Care?

When most people think of someone needing long-term care, they think of the elderly–according to some statistics approximately 60% of Americans over the age of 65 will require some measure of long-term care during their lifetime.

But long-term health care needs aren’t limited to senior citizens– those same statistics say that about 40% of those receiving long-term care today are between the ages of 18 and 64. That’s because if someone of any age is injured in an accident or comes down with a debilitating disease, they could require long-term care–and that can be exceedingly expensive.

The reason it’s expensive is self explanatory: it’s long-term. It simply means the need for care is ongoing. That’s why long-term care insurance exists, to cover the cost of that care. Most traditional health care policies don’t cover long-term needs. Those that do often have a cap that prevents someone from spending too much on necessary care.

Alternatives to Long-Term Care Insurance

Acquiring a long-term care insurance policy can be difficult. You need to shop around because there can be huge differences in cost and the type of coverage offered.

Once you need long-term care, it can be next to impossible to get it, so you need to think ahead. There are alternatives to long-term care insurance, but they may not be suitable for everyone.

Some people use money they receive by cashing in a life insurance policy to cover long-term care. However, this means there is no longer life insurance in place.  Another method of paying for long-term care is by using a reverse mortgage to free up cash.

Or, you could take out a longevity policy and use money from that to pay for long-term care. Many people opt for sticking their money in savings accounts, CD’s, or annuities and using that money when needed. The least expensive alternative to long-term care insurance is by relying on Medicare and Medicaid.

However, there are some downsides to Medicare and Medicaid. You may not be able to access all the services you would like to have, and you won’t have the same choices as someone who carries long-term insurance in deciding where or from whom you receive care.

Costs of Long-Term Care Insurance

The reason a lot of people seek alternatives to long-term care insurance is that the price can be very high. Depending on the extent of coverage you seek, the cost may be astronomical.

Also be prepared to wade through a lot of details (in small print, of course) that define exactly what your policy covers.

Consult with a qualified insurance agent to help you decide what course you want to take. It may also be to your advantage to talk to a money manager before you make a final decision on whether or not to carry a long-term care insurance policy.

This has been a guest post by Bailey Harris, who writes about home insurance and related topics for homeinsurance.org.

The need for proper health insurance doesn’t end when you go away to college. When you move away from home you begin to step away from your comfort zone and may actually take chances you normally wouldn’t.

Tragedy can strike anywhere at any time and affect anyone, and now that you’re grown, it’s time to take a hand in deciding how to protect yourself.

Information Overload

You are used to studying. Insurance is simply another thing to study. It may seem like an overwhelming task to decide what type of coverage is needed, but if you take the time and approach it in the right way, wading through the insurance information highway won’t be any more difficult than schoolwork.

Take the approach that it will be good for you in the long run, and study all the options before making a decision.

Why Do You Need It?

As a typical student you’re generally young, strong, and vigorous, with your whole life ahead of you. Thinking about being confined to a wheel chair for an extended period of time, or being diagnosed with a debilitating disease, is a foreign concept normally not worth thinking about.

However, even something as simple as twisting your ankle while horsing around, or breaking a leg in a pickup football game, could throw a crimp in your lifestyle. Don’t think those things always happen to someone else. What if it happens to you? Will you be financially prepared?

If you decide you really don’t need insurance and end up in an accident you may decide not to seek medical care because you can’t afford it. If you wait too long the condition could worsen and you’ll end up paying more than you would have if you’d visited a doctor immediately.

Custom Plans

Because you’re young and in overall good health it will probably be easy to get a policy at a reasonable rate, but traditional health insurance coverage will not always be the answer. Shop around. Find out what areas you really need protection in and customize your insurance plan to make sure you’ll be covered should the need arise.

Other Options

If you have a job, a basic health insurance plan may be available through your employer. Even if it’s only partial coverage, it’s better than none at all. While it’s true that most college students that work don’t make a lot of money, every little bit helps and employers realize the need to keep their workers fit and able.

Another option is taking out a policy through the school you attend. Many schools offer special rates because their medical care is handled through a student health facility. You may qualify. Insurance companies are used to dealing with people who don’t have a lot of money to spend. Find an agent that is familiar with people in your situation and work with them to find the best possible coverage at the best price.

Don’t be afraid to ask questions, such as the opportunity for group rates or short term health insurance plans. The options are endless, and so are the possibilities. You’ll be glad you took the time to find out what will work best for you.

This is a guest post from Bailey Harris. Bailey writes about health insurance companies, finance, and related topics for www.healthinsurancequotes.org.

Imagine if you lost all of your personal belongings to a catastrophe such as a burglary, fire, hurricane, or other natural disaster?  Replacing  just what is necessary would put a huge dent in your finances.

Even more so, such a loss can be an extremely stressful time in your life. When we suffer a hardship like this, fear and panic set in immediately and we find ourselves asking questions like:

• Where will I find money to replace these things?
• Will I have to deplete my savings account?
• Will I have to dip into my retirement savings?
• Will I have to borrow from family or friends?
• Will replacing these items rack up credit card debt?

Homeowners are usually protected against such a disaster through their homeowner’s insurance policy. However, more Americans find themselves renting these days and it is estimated that over one half of all people who rent don’t carry any form of renter’s insurance to protect their belongings or protect them from liability.

Jeff Moree, a product director for Allstate Insurance, explains that many people put off buying a renter’s insurance policy because they have misconceptions about this type of insurance.

With this in mind, let’s take a moment to look at some of the common misconceptions about renter insurance to make you more informed about this type of policy.

1. Renter’s insurance is a scam because my landlord’s insurance covers me.

Landlords have insurance, but their insurance covers the building and structure. Nothing in his or her insurance policy covers your personal property or protects you against a liability claim where you are found at fault.

2. I don’t have enough valuable stuff to warrant renter’s insurance.

One thing that you should do when purchasing a renter’s insurance policy is to conduct a home inventory of your stuff and apply a value to each item. If you were to do that right you may be surprised at how much it will cost to replace the television, computer, clothes, furniture, jewelry, etc.

3. My roommate has a renter insurance policy so I am covered.

While there are some policies that will cover roommates and domestic partners, many will not. Most renter’s insurance policies cover the insured’s property only.

4. I live in a safe neighborhood so I don’t need renter’s insurance.

The Department of Justice claims that renters are 79 percent more likely to be burglarized than homeowners. Even without that statistic to convince you, think about how often you see a home invasion that takes place in a gated community. It happens more often than we think.

5. Renter’s insurance costs too much.

Some insurance policies are really expensive but renter’s insurance is not one of them. Prices average between $160 to $350 per year for a policy and there are many ways you can negotiate a better price.

While a renter’s insurance policy may not give you total comfort in the event disaster strikes, it can certainly give you one less thing to worry about.

Jeff Orloff writes on renter’s insurance topics for Consumer Media Network’s Renter’s Insurance blog.

What Is Renters Insurance?

Renters insuranceis similar to homeowner’s insurance in that it provides coverage in the event of a fire or another catastrophe.

Most renter insurance policies also provide personal liability coverage so that you are protected should someone be injured on your property.

Renters Insurance Coverage Options & Cost

There are two basic types of renters insurance policies that can be purchased: actual cash value and replacement cost.

An actual cash value policy is a basic policy that will pay you the value of the property at the time of loss.

In other words, you will not receive the full amount that you paid for your possessions or the amount needed to replace them, but a smaller amount that takes depreciation into account.

Replacement policies pay the actual cost of replacing your possessions.

For example, if you need to replace a ten year old stove that was damaged in a fire, you will be given the amount of money you need to purchase a brand new stove.

Replacement policies tend to cost a little more than cash value policies but are often worth the extra when you have a lot of possession to replace.

Besides policy type, the two leading factors that will affect the cost of renter’s insurance are the amount of coverage you buy and the deductible on your policy.

Obviously, the more coverage you buy, the more you can expect to pay. Fortunately, renter insurance premiums are usually relatively low since you are insuring possessions, not the building you live in.

Although you won’t be insuring your building, its location can affect the cost of renter insurance. If you live in an area that has a lot of crime, you will likely pay more than someone who lives in a safer neighborhood.

The type of dwelling you live in can also have an impact on cost. Buildings that stand alone or are constructed with fireproof materials can net a discount for renter’s insurance.

Discounts may also be available if you have a security system, smoke alarms, or other security features.

Do You Need Renters Insurance?

Although renter insurance is not required by law, it is a smart buy for most people.  Many people assume their landlord’s property insurance will cover them, but here’s the reality:

• Your landlord’s property insurance will not cover your personal possessions if the house burns down or if the roof leaks on your television.
• It will also not protect you from a lawsuit filed against you because someone slipped on the icy walkway you were responsible for clearing.
• And it will not cover your living expenses if you are forced to temporarily live somewhere else because of a fire or some other peril.

The most you may get is the sympathy of your landlord.

A renters insurance policy, on the other hand, will provide significant financial protection for all of the things mentioned above and then some.

This has been a guest post from Bailey Harris, who writes about homeowners insurance and other finance topics for www.homeownersinsurance.org.

The title of this post makes a very big assumption.

It assumes you are actually reviewing your life insurance plans!

Life insurance seems to hit the gag reflex for most folks.  It’s just not something desirable they care to review, make plans for or discuss.

And yet, it’s one of those necessary evils.

Your life insurance plans should be reviewed at least annually, and perhaps more often if you are experiencing life changes throughout the year.

For example, becoming a parent or having another child is a major life event that should cause you to review your life insurance plan well before your annual life insurance review.

So today we want to cover four things that you need to consider when reviewing your life insurance plan:

Type of Life Insurance Plan

Ok, this seems pretty basic, but I sense there is a lot of confusion out in the world regarding the types of life insurance out there.

There are two main types of life insurance:  term and permanent.

Permanent insurance is designed to last as long as you live, no matter how long you live.  These can be whole life, universal life, variable universal life and a newer version of a universal life that is nicknamed permanent term.

All these life insurance plans have one thing in common – they try to make sure your life insurance is their for you when you really need it – at your death.

You will generally pay higher premiums because you are insuring yourself for a longer period of time and because many of these policies build up cash value, a savings portion of the insurance.

Term insurance plans on the other hand insure individuals for a set period of time, or a term.  This could be one year (not recommended) or it could be 10, 15 or 20 years depending on the plan you choose.

If you do not die within that period of time, then your beneficiaries get nothing.  You would have to buy another policy at that time.

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Term is great for those looking to keep premiums inexpensive.  Since you are only insuring yourself for as set period of time, the premiums for these life insurance plans are generally much less.

So, which type of insurance plan is right for you?  It’s a question you’ll need to consider when you review your life insurance!

Amount of Life Insurance Plan

This one makes sense right?  How much life insurance do I have and how much life insurance do I need?  Pretty simple.

The difficulty comes in when really trying to figure out how much life insurance you need. 

I generally like to keep things simple, so here is a good way to think about it:

• Current and future financial obligations
• minus (-)
• Existing resources (includes savings, existing life insurance and survivor’s earnings)
• equals (=)
• Life insurance needed.

Premiums of Your Life Insurance Plan

Many folks confuse the cost of insurance with premiums.

Cost of insurance refers to the cost it takes to insure you as determined by the insurance company. 

Your premiums may be higher than this amount if you have a permanent insurance policy because most of those have the built-in-savings portion called cash value.

In order to build cash value, you have to put in an amount much higher than the cost of insurance.

What I refer to here is the out of pocket cost for your life insurance, or your premiums. 

You’ll want to review your premiums especially with your permanent insurance because if you didn’t put enough in to begin with, your insurance company will want a higher amount to keep this type of policy going strong.

With term insurance, you need to review the premiums because you don’t want to come to the end of your term and automatically renew at a much higher premium.

I’ve heard of people getting a higher bill for their term insurance because it was at the end of its renewal period and just paying it because they didn’t review what it should be.

Beneficiaries of your Life Insurance

Beneficiaries should be reviewed annually as well.

I’ve heard horror stories of folks forgetting to change their beneficiaries after a divorce only to leave their “ex” with a nice little chunk of change upon their death.

This could also apply if you created a trust and were supposed to put life insurance proceeds into the trust! 

There are big ramifications for having wrong beneficiaries selected so be sure to review this regularly, if for nothing else than peace of mind.

What Else Do You Consider When Reviewing Your Life Insurance Plan?

Share your thoughts below!