Insurance

Flood claim?

Jobelle Collie
I have flood insurance, even though I’m not in a flood zone. Yesterday, we got 4 inches of rain in less than one hour! The house next door is vacant. The landlord closed off their French Drain, so that house probably has water in it. Because my French Drain was just keeping up with the deluge, it was overwhelmed when my neighbors excess water began flooding into my kitchen and living room. The insurance adjuster will be here in the morning to figure out my next move. I’ve never made a flood...Read More...
Sounds like you are well covered for this situation. That takes a lot of wise financial planning ahead of time. I bet it is a headache to deal with but great job preparing for it ahead of time!Read More...
I’m going to have to move out all the furniture and put it in storage. My dog and I will have to move to a hotel or apartment. They will have to pull up all the floors, bye bye oak parquet! The kitchen cabinets have to be pulled out and clean/replace floor tiles. Then the walls about 3 foot up of wallboard. Replace one door. Then redo the driveway and upgrade my French Drain. I’m covered for $250,000 / $100,000 and one policy pays all the copays and the storage fees and hotel/apartment. If...Read More...
Last Reply By Moore Income · First Unread Post

Life Insurance

I am almost 70 years old, and planning for the inevitable. I have a savings account with more than enough to cover my burial expenses,etc. If one of my children is the executor of my estate: 1) do I still need to purchase term life insurance; 2) should I put that person as a joint signee on that particular account; or 3) should I set up a living trust?? Help!!Read More...
Carol, a lot of funeral homes offer a pre-payment program for burial expenses. You get to plan your funeral the way you want it and handle all expenses (type of casket, service, etc.). This takes a lot of stress off the family in having to make the decisions and possibly arguing over what should be and what shouldn't be. Then you could bequeath the rest of your money top them without having to purchase life insurance. Term insurance would be a waste of money, in my personal opinion.Read More...
Last Reply By Lisa Hibler · First Unread Post

If you are self-employed what do you do about health insurance?

mintjulep
I was self-employed most of my career and, after years of increasing, staggering, barely affordable health insurance premiums as a single person, I was introduced to HSAs (Health Savings Account). They are not a solve-all for the high cost of health insurance premiums but they offer tax savings when the money you invest in an HSA is used to off-set medical expenses with a high deductible insurance plan. Any funds you invest are pre-tax dollars when you invest and also when you withdraw the...Read More...
Patti, a Health Savings Account (HSA) is used in conjunction with a high deductible health insurance plan. This is a short explanation at this site and for Wisconsin: https://www.ehealthinsurance.c...nce/health-plans/hsa The money put into the HSA is tax free and remains so if used for qualified medical expenses and purchases not covered by your regular health insurance plan ( some over the counter drugs, etc qualify!) If you are on Medicare, there are no HSA available to use with Medicare...Read More...
The health sharing plan is not insurance. It cannot be used for Medicare. However it legally fulfills required medical coverage still mandated in some states. So you won't be fined for having it instead of health insurance. Ours is a Christian based one. Different plans have different requirements. Ours doesn't cover certain procedures, or vision or dental, or preexisting conditions. There is a $300 deductible per incident. The way it works is the administrators assign you a need to meet,...Read More...
Last Reply By mintjulep · First Unread Post

Insurance claim - minor accident, my fault

I hit my neighbor's parked car. No one else was involved but me. I took pictures. The cars both got scraped. I figured mine is worse than hers and that both looked like something that could be sanded out. I figured I'd owe her $200 or so. She got estimates for $800 and $1800 ! The higher cost is from the dealer, and that's who my insurance company chose for her to go to. It appears they just took the estimate at face value. I thought they would estimate it themselves. (Her car is the white...Read More...
The law states they can go to any auto repair center they choose. A lot of times what we think is just a buff and repaint is a little more, labor is involved and shop labor is not cheap. It might seem unfair to you, but it is what it is. Sorry this happened to you.Read More...
Last Reply By JeremyM · First Unread Post

Pet Insurance

MeganC1041
I've been considering purchasing pet insurance for my 2yr old puppy. Is it worth the cost and can anyone recommend a site where you can price compare? Much appreciated!Read More...
I believe that Care Credit card you can also use it. It is not only for animals. It is a promotional card that is interest free but you have to pay what the amount is set at every month and do not miss a month or I believe the amount will be due plus all the interest. I would pay what they want every month. Trupanion (pet Insurance) I pay $63.80 a month. Animals and humans same costs for treatments. Very expensive.Read More...
My cat hAd an emergency trip to the 24/7 pet hospital and In order for them to see her I first had to apply for “care credit” card. I now have a $500.00 vet pet bill which I am told the terms and interest rate vary from person to person and the doctor or vet is the one that sets the terms so I have 18 months to pay it off . I don’t know what the interest will be after that. I’m 55 years old and just started my emergency fund which is only $170.00 to date should I put it all towards the vet...Read More...
Last Reply By Peg Guglielmi · First Unread Post

Life Insurance

Amy Hawkins
Shopping around for life insurance for my husband and I! Please let me know who you use. Interested in Term Life not Whole Life. TIA!!Read More...

Car Insurance

I shop insurance rates every few years and had a thought. Is it a gamble or a smart move to buy the lowest coverage that's legal and then buy an umbrella policy to cover you and your assets should the worst case scenario occur?Read More...
Thanks for the input...my agent kind of hemmed and hawed when I asked him his thoughts. Of course, it would cut into his commission.Read More...
Last I checked with my car insurance, they didn't sell umbrella unless you got a higher coverage. I think thats with most insurance. So you won't be able to get the minimum on the regular insurance and an umbrella coverage.Read More...
Last Reply By Eubie12 · First Unread Post

This week in... The Penny Hoarder Community

Ashlee
Happy Friday! Whew! Where has this week gone? Here’s your weekly round up of announcements to get you through today and into the weekend... We’ve crowned our November Member of the Month. Join me in congratulating Lisa Acu ñ a (@lismox) for being selected this month’s winner! We all appreciate your help around here, Lisa. Each month we look to crown a new winner. We’re looking for someone who is super helpful and active in the community. Each winner receives a $25 gift...Read More...
Not a problem, @Lesley Michele .Read More...
Thanks Average Joe😁😁😁😁Read More...
Last Reply By AverageJoe · First Unread Post

Happy November!

Ashlee
We’ve made it to the end of the week and the start of a new month Penny Hoarders! Who here can’t believe it’s already November? 😳 This week I want to know if you’re a planner or a procrastinator… Do you start planning and budgeting now for holiday purchases or wait until the last minute? What about your New Year’s resolutions? And now for this week’s announcements… We just hit a HUGE milestone Penny Hoarders… 10,000 community members! Join us in a celebratory happy dance, then go check out...Read More...
@Susan L. Miller We have used Freecycle off and on for years. We got the foot and headboards for our queen-sized bed through the program. We have seen many items we no longer use go to other homes that would use them and recommend it heartily! We have also used our "Marketplace" here in our area on Facebook to buy and sell things. There are so many ways to go and programs to use! Happy selling...and as one of our mentors says "Think..and grow RICH!"Read More...
I'm not sure how many were here when I joined the Penny Hoarder Community, but I do know that it seems as if we've grown by leaps and bounds. I've met some interesting people and like having information and ideas coming in! May we continue to grow in numbers as well as in wealth.Read More...
Last Reply By AverageJoe · First Unread Post

Question about life insurance

I'm 48 and have a 10 year term life policy that will expire in the next year or two. I know I'm going to pay more premiums as I get older so would it be a good idea to get a new policy now or wait until it expires and see if I can get a deal by re-upping with the same company?Read More...
That's a good question. I would say you would probably do well to start exploring your options now. As you mentioned, premiums only go up with time and you can get a better idea now by looking at what other offers are available. Also, it might be helpful when you sit down with your current life insurance company to have some other alternatives you have explored. If the company you are with views you as a valuable client, they will do everything they can to keep your business and knowing...Read More...
Last Reply By Moore Income · First Unread Post

Life insurance for grandchildren

Any tips on the type of life insurance for grandchildren, amount and most of all the best insurance company?Read More...
Look to see if the parents have term insurance. They can add a rider to their existing insurance for much cheaper than The while life options offered by a baby food company. Only thing a child would really need to cover is burial. If you are looking at providing money long term look at opening a college fund, the money will be much better spent. Whole life is a horrible vehicle for investing and life insurance.Read More...
You might want to check out Gerber Life Insurance plans for children... they've been specializing in this for a very, very long time (mom took policies out on all us kids when we were born in the 60s). After I got married my folks gave me the policy and I cashed it in to help buy our first house. It wasn't a lot of money, but was certainly appreciated. Grandparents are eligible to insure their grandkids, too. https://www.gerberlife.comRead More...
Last Reply By Kirk · First Unread Post

Self Employed Medical Insurance

Ana24
Hello everyone, I am a stay at home mom and my husband is a self employed I was wondering where do you go to look for a Medical insurance for self employed? Any information will be very helpful and will be appreciated. Thank you in advance.Read More...
Hello Ana24 I would suggest Medishare or Christian Healthcare Ministries. These provide coverage the same way an insurance provider does, and qualify as insurance for those who need proof of coverage. They are much more affordable and they offer community support as well. Definitely worth trying!Read More...
When I have been self-employed, I have never used the Marketplace options because I could get coverage more reasonably priced through a regular independent agent who offered plans from several providers. I like using local, independent agents as they usually work harder to find the right mix of coverage for me.Read More...
Last Reply By IrishRose · First Unread Post

Car Insurance

Franklin J Pimentel
I live in NYC and paying a lot for my car insurance, I recently purchased an weekend house in upstate NY, a friend just told me that if I change my address to my second home, my car insurance will reduce drastically. Is this true? is it legal?Read More...
Also, there are some great options to get more efficient car insurance rates. Have you looked at The Zebra ?Read More...
Yes - that is true and it is totally fine to do.Read More...
Last Reply By Theodora · First Unread Post

Total loss valuation

Gina B.
I am looking for the fairest estimates for homeowner insurance. And, I am a bit deflated from the deception the bundling idea presents (fyi, in my estimation it's a hoax unless a savings of $8 is worth it). I have noticed that the estimated sale price of the property and the total loss of the property has an exceptionally different valuation and i mean a good $70k difference. Can someone explain why this is? As an aside, another increased personal liability I am seeing (to consider) is for...Read More...
I was doing that, receiving estimates. But thanks. I was also asking about the rationale and in particular coverage for firearms.Read More...
Find a local broker who can give you quotes from multiple companies. This is the best way to find a fair price.Read More...
Last Reply By Gina B. · First Unread Post

What happens to my FSA if I leave a job?

Hey everyone, I need some advice, I left my job for a promotion at another company. I have never switched jobs before so those 2 weeks flew by and I didn't really know what I was doing. My final day at my previous employer was 7-24-19. I recieved a letter in the mail today that I was no longer eligible to use my FSA. Is that money that I literally just lose, any suggestions on what I can possibly do to utilize that money at this point? I hadn't realized the FSA was different than my HSA...Read More...
Your HSA goes with you when you leave your job. I have an account and use it now in semi-retirement, and am so grateful that I have it as I had surgery in May and still suffering complications. It really helps with extras that Medicare and my Medicare Supplemental Plan won't cover. For example, I was recently diagnosed with lympomedia (sp) as a result of the surgery, and I use the account to buy things the physical therapist requested such as leggings for circulation, special lotions and...Read More...
I agree with one of the other members. I would suggest you contact your old HR Department. Also, check with your health insurance and see if you have any outstanding bills that were created before leaving the old job, maybe the FSA can cover it. Unfortunately, FSA are use or lose, you have to spend it all before leaving the job. An HSA is yours even when you leave a job.Read More...
Last Reply By sthom · First Unread Post

8/19/19 article about Life Insurance

Ronald J. Genzer
Your statement that Term Life premiums aren't very expensive is a little too simplistic. At younger ages term life premiums are relatively inexpensive compared to whole life premiums but not at older ages. I had a $50k annually renewable term life policy and the premiums got to be over $500 per month before I dropped it.Read More...

Life Insurance, Disability Insurance, Wills, etc

Nicole
Part of financial well-being is also being prepared to protect you & your family should something terrible happen. Do you have Life Insurance, Disability Insurance, Critical Care Insurance, a Will? If you do, how often to you make sure it still suits you & your lifestyle? (eg will only lists 2 children & now you have 3, life insurance would pay off your mortgage but now your mortgage is paid off)Read More...
Universal Life is a ripoff! Buy Term and shop for long term care separately. You'll save money.Read More...
We need to update our wills. We used to get it updated every year when we were with a company that sold legal insurance as sales associates. Now we no longer are with that company, and haven't kept it updated. We are in the process of writing our new wills, and will file them and leave them in appropriate hands. We do realize that it's important to keep things like this updated, though, as well as having a living will and all the correct directives. I don't preach on it, but my sister asked...Read More...
Last Reply By NanaWaller14 · First Unread Post

Stride Health with Etsy

Miranda Mattson
Has anyone tried getting their health insurance with Stride? They work with Etsy sellers and I have read mixed reviews. But I think it would be a good option for people like me who run their own business and have an irregular income. I would love some opinions so I can make an informed decision. Here is a link: https://www.etsy.com/seller-handbook/article/helping-you-find-the-right-health/35196764666Read More...
I have not tried Stride health, but as a delivery driver, they also work closely with several delivery companies to provide health, dental and life insurance to those working in the gig economy. I recently tried signing up for life insurance through them and a company they partner with but was denied coverage despite not having any real health issues and although I have been approved in the past from a different company. If you can get coverage with them it might be a good deal but I am not...Read More...
Last Reply By Moore Income · First Unread Post

How much car insurance do I need?

Grace Schweizer
I currently pay more than I would like for car insurance. When I originally bought my policy a couple of years ago, I added a lot of coverage that I'm not sure I even need, and at the time, I didn't qualify for many discounts. I'm ready to make the call, shop around and see what I can do about bringing my rate down, but I want to be able to go into the conversation informed. What kinds of coverage do I really need? What kinds of discounts should I ask for? I don't necessarily want to go bare...Read More...
@KellyFromKeene It is crazy that it would jump up that much. I think what @mintjulep said about them just edging you out is true. When I finally called my agent to let him know I switched insurance, he didn't ask any questions or try to get me to stay. Honestly, it felt like they were trying to get rid of me for some reason.Read More...
I've never heard of insurance jumping that much, and that is crazy!Read More...
Last Reply By Moore Income · First Unread Post
What did you do to make money online? My first online money maker was selling things around the house that i didn't need any more. I sold on ebay and made about $300 and I was hooked on it. After that I started looking for more things to sell on ebay. So i started selling 4000 recipes i brought with resell rites. I made my money plus so much more on there. That I just looked for more to sell on ebay. I didn't make a hole lot but it got us threw the last 2 weeks of the month.Read More...
MOORE INCOME yes it was a great achievement.Read More...
@Bonnie Squires getting to power seller is a great achievement! I never have so great job!Read More...
Last Reply By Bonnie Squires · First Unread Post

Looking for medical insurance?

Bonnie Squires
Our daughter hasn't had any medical insurance since she was 19. I've tried to get her back on state medical and haven't beadle to even threw her dad because she had an iep in school. Any help of a cheap medical would be grate. Thank youRead More...
@Moore Income thank you so much for your answerRead More...
Finding good medical insurance at a price that doesn't break the bank is no easy task! Even I am fairly healthy and I have not been able to find something that works for me without costing an arm and a leg. While I can't give you any solid advice, I can say that Google is your friend on this one. A quick Google search brought me across sites like healthinsurance.org which provide helpful information and guides to finding the perfect insurance. Ultimately, it is going to take a lot of...Read More...
Last Reply By Bonnie Squires · First Unread Post

What life insurance would be good?

Bonnie Squires
I'm looking for life insurance for my husband who is 63 and not so good health and for myself i'm 52 and my health isn't as bad as my husband. I'm looking for some thing that will cover us to be buried or cremated and any debt or house payment would be paid off but I wont be able to pay a arm and leg. lol thank you for your helpRead More...
DEON CHRISTIE you have a good day toRead More...
Only a pleasure @Bonnie Squires . Have a lovely Monday.Read More...
Last Reply By Bonnie Squires · First Unread Post
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