What happens if my car is stolen?

When your car is stolen there is a lot that goes through your mind. I dont need to explain why, but a million concerns immediately emerge. Who did this? Why? What was in the car? Who do I call? Whos going to pay? In this situation, having full (Comp and Collision) coverage proves to be very valuable. Full coverage is more than liability only coverage (damage caused to others due to car accidents), or collision coverage (damage caused by collisions to objects). Full coverage includes comprehensive coverage (damages other than collision) This coverage includes natural disasters and car theft. Many people have insurance and they do not know if they have this coverage. Comprehensive and collision deductibles can vary and I always recommend putting them as high as you are comfortable with to save on the monthly premium, as well as, prevent you from filing small claims. It is important that you understand your policy and what is/is not covered. One thing that you need to be mindful of is limiting keeping expensive articles in your vehicle that might entice a thief. So, plan early and that will be one less thing that your are trying to sort out should something happen to your car.

Renters Insurance..Is it really neccesary? Prove It.

Renters insurance is a confusing topic because many people who are renting might not be familiar with managing their assets. While home owners insurance is a must for the majority of those buying a house, a staggering number of renters do not carry renters insurance. In fact, according to MarketWatch nearly two-thirds of the 81 million people who rent their homes are uninsured for their contents or for any liability arising out of their tenancy. More and more apartments are requiring their tenants to purchase base amounts of insurance to move into a residence, but still the majority of Americans go without. So, what is the big deal and if so many don't have it is it really necessary? Great question and lets take a look at the two main reasons for purchase.

The first reason that people need to consider purchasing a policy is for replacement of personal effects. Some renters assume that they are covered by some magical insurance umbrella held by the landlord, and this is absolutely not true. The policy a landlord carriers does not cover your stuff. Even those of us who live modestly probably have a pretty substantial amount invested within those walls you do not own. A high-def TV, surround sound system, computers, a business and a leisure wardrobe, all of those small appliances in the kitchen, and even if your furniture was bought second hand or from WalMart it can and will add up and should disaster strike, and everything will have to be replaced out of pocket. The average renters policy costs about $10-15/month which equates to less than $200 a year. That means that you would have to pay 10 years of renters payments to compensate you for that wonderful mac book you love so much. Dumb. Now, if you still are playing the card that you don't have anything of value and you live life void of all nice things, then the next reason people get renters insurance should really make you perk up.

If something happens on your property you are held liable and will be forced to pay for damages. Here's an example: Should the repairman trip over your coffee table inside your apartment or if that sweet guard dog you bought to pick up chicks decides that his ankle looks like lunch it will not be your landlord's problem. It will be yours.

Renters insurance is an inexpensive way to protect you property and many times when paired with you auto it will discount both policies. In college the house I rented burnt down and my lack of planning left me with truly nothing. Trust me it is always better to pay a little for something you may never need then pay a lot when you need it immediately. If you have any questions we are always available to help you make the best decisions at the best price.

TAKE CONTROL OF YOUR SPENDING..ONE BILL AT A TIME

ARE YOU REALLY THAT IMPRESSED BY MARKETING AND CELEBRITY SPOKESMODELS?

In good times, it's natural that we pay less attention to our individual expenses. But in today's uncertain times, regardless of our current situation, everybody needs to save as much money as possible.

When it comes to saving money the best place to start is with your auto insurance.

Most Americans can point to a similar list of monthly expenses, including mortgage or rent payments, auto expenses, utility bills, food & clothing etc... Many of these expenses are fixed and can't be changed and so they offer few opportunities to save any significant amounts of money. Financial experts agree, however, that the one monthly expense, where people can, with minimal effort, often find real and substantial monthly savings is auto insurance.

Auto Insurance is a necessary evil that responsible people know they can't live without. In fact, for many of us, it's a payment we make month-in and month-out, and never see the benefit of. That's OK, because the coverage has to be there if we need it - but it's also makes it all the more important that we don't over-pay.

Why are you making the insurance companies rich?

Fortunately, today there are online services that let consumers quickly shop for the best rates from a nationwide selection of auto insurance companies, all competing for your business. You simply enter your requirements, and instantly receive quotes from a wide range of reputable companies.

One of the most comprehensive of these services is CompareMyInsuranceOnline.com They operate a free website service that will find you the best insurance quotes from a wide network of premium insurers. There are no fees and no suprises. Best of all if you need help there is someone who is able to answer questions. The site also contains a wealth of reference information that helps you understand how different policies work and how to save the most money possible.

The fact is that auto insurance rates are constantly changing, and for certain policies rates have actually dropped significantly in the past 12 months. You can be sure, however, that your insurance company is not going to call you up and let you know their rates have dropped. But, with a minimal amount of time on a service such as CompareMyInsuranceOnline.com you may be able to quickly save hundreds of dollars.

So, if you're into saving money, start by finding out how much you're over-paying for your insurance coverage. Click on www.CompareMyInsuranceOnline.com

SMALL BUSINESS OWNERS: Can you use a personal vehicle for business use?

Owning and operating a vehicle is expensive at the best of times. If you are a small business owner looking to save some money, using your personal vehicle for business purposes may be an instant cost saving. It is true that purchasing a commercial auto policy can be an expense that you were not expecting. Here are some things to consider when deciding whether or not to use your personal vehicle for business use. The IRS classifies "business use of a car" as travel between two destinations, one of which may include your regular place of business. So you don't have to be a delivery truck driver to be caught using your personal vehicle for business.

Consider this:

Does your Personal Auto Policy Cover Professional Business Use?

This is an easy first step. At times (depending on the situation) we add business use to an individuals policy. Depending on the use of business this can be a easy fix. However, if you are involved in any kind of food delivery service, catering, landscaping services, operate a day-care or church van service, and a number of other risk you are well advised to do some simple research before you use your personal vehicle as these are usually specifically excluded.

Tax Deductions: Which is better Personal Use or Business Use

Tax deductions for business owners can be categorized in two core tax breaks. If you have questions on how to deduct these expenses contact a licensed tax professional.

-Actual Vehicle Expenses - If a vehicle is used exclusively for business purposes, you can usually deduct the full cost of operating the vehicle.

- Standard Mileage Rate - If you use your vehicle for business on a part-time basis (ex. your personal auto), then you must divide your expenses (in the first year that you begin using it with your business) based on actual mileage. Check with your tax accountant, but the average rate is 55 cents per mile.

**Please note that in addition to basic mileage, you can also deduct interest on an auto loans, registration and property tax fees, and parking and tolls, and many other eligible business expenses. Always keep detail accounts and records of all expenses.

It is always advisable to get a professional opinion on whether or not your personal insurance policy will suffice for your particular business. As always, we are always available to provide unbiased consultation on all of your insurance needs.