Do you ever think of customer service as a marketing effort? If not, you should. Word of mouth is one of the most effective, reliable forms of business referrals. If you don’t have excellent customer service, customers and clients will be less likely to talk positively about you, in turn, hurting business. In the age […]
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My wife and I have been married 15 years, and dated for six years prior to marriage. During that time, we’ve had three kids, lived through moves and career changes and great moments and tragedies, and yet we’d still rather spend time with each other than anyone else. I love her in more ways than I can possibly subscribe – best friend, romantic partner, mother to my children, participant and leader in the community… I could go on and on and on.
A big part of that feeling of continued love and closeness after all of these years is that we’ve managed to figure out how to show each other that we love each other in a variety of simple ways. She knows how to make me feel loved, I know how to make her feel loved, and we both do it regularly. Over time, we’ve figured out how to do it without buying gifts for each other or performing huge romantic gestures for each other.
So, why am I posting this almost at the opposite end of the year from Valentine’s Day, the “romantic” holiday? The simple truth is that being romantic and showing someone you love them is a tremendous “everyday” thing to do. There are few things that will solidify a relationship more than simple romantic gestures done unexpectedly but not infrequently.
Here are 30 of these free (or highly inexpensive) gestures that we’ve used throughout the years. I strongly encourage you to try several of these and see how your partner responds to them, as some types of gestures of love work better for some than for others.
Write your partner a note describing things you appreciate about them, then stick it in a place where they will find it soon. Just think of two or three things you really value about your partner and write a note listing those things, in your own handwriting. End it with a simple statement of love, sign it, and then put that note in their backpack or in their car or some other place where they’ll find it.
Hold your partner’s hand when you’re sitting near each other or walking somewhere together. Just reach over and interlace your finger with that person that you love and hold on for a little while. Not only is the handholding itself a nice thing to do, it also requires some general physical closeness.
Make your partner’s favorite dinner and then clean up everything, leaving the kitchen and dining area nicer than when you started. For me, that usually means making some kind of curry with rice or naan bread. I’ll often write something bland and generic on the meal plan and then prepare it so that the house smells like curry and is just about finished when she walks in the door from a day of teaching.
Look for the little things your partner likes, buy them (or even stock up on them) when they’re cheap, and give them out over time. What little things does your partner buy as little treats for themselves? What’s their favorite kind of candy or gum? Maybe your partner likes to buy a pack of Magic cards every once in a while, or maybe they’re into craft beer and you can buy a bomber of something unusual that they’ll like. Just get that little item spontaneously. Even better, if you see an opportunity, stock up on that item and hide the extras somewhere, and then slip one into your partner’s bag for the day every once in a while.
Block out a chunk of time that the two of you can spend together regularly, even if that means shouldering some extra tasks for a while, and alternate those chunks between things you each enjoy. The key is to wall off that time and make sure that other tasks aren’t interfering or distracting from it, which might mean taking a task or two you don’t otherwise want to do. My wife and I try to wall off a couple evenings a week for either binge-watching a series on Netflix together (her thing) or playing a board game together (my thing). Sometimes, we’ll mix that up – she’ll pick the board game, or I’ll pick the series to binge watch.
Look your partner straight in the eyes and say, “I love you.” It’s so simple, but it’s sometimes harder to do than you expect. Yet, when it’s done from the heart, it can really connect the two of you.
Lay close to your partner when falling asleep. Just cuddle up close for a little while as you’re drifting off. Yeah, sometimes it can get kind of warm, especially in the summer, but you don’t have to stay tightly cuddled for the whole night, just for a little while with your arm around your partner.
Handle your partner’s least favorite chore without asking. What does your partner do regularly around the house that they hate doing? Just do it for them. Take out that trash. Wash those dishes. Clean out the grease trap. Change that light bulb. Whatever the task is that your partner hates, do it for them without being asked.
Pick a bundle of wildflowers and give them to your partner. It’s generally legal to pick true wildflowers in open public areas such as roadsides, as indicated here. Just go pick some wildflowers with long stems and bring them home and put them in a vase for your partner. Just make sure the flowers are truly wild and that you’re not trespassing or violating traffic laws to do so.
Quietly trade some service for an evening of babysitting and plan an evening together without your partner expecting it. Find someone who would be willing to watch your kids for an evening (or overnight), and then work out some kind of swapping arrangement for a night of babysitting with them. Hold that night of free babysitting in your pocket and then plan a “date night” of some kind, all without your partner knowing about it at all.
Write a thoughtful appreciation of your partner and share it publicly, perhaps on social media. Think about the things you wish the whole world knew about your partner, put those things down in words, and share it with the world. Social media is a convenient place to do it, but be creative – maybe there’s another opportunity in your life for a public showing of this kind of appreciation. When I was in grade school, the spouse of one of my teachers did such an appreciation on an empty bulletin board near the teacher’s classroom.
Put your arms around your partner at unexpected moments, especially at home. Just walk up behind your partner, put your arms around your partner, and rest your head on their shoulder or back. It’s such a simple gesture, but it’s a deeply romantic one that just signifies pure love, especially for people who long for the human touch. My wife and I do this regularly and it always feels good for both of us.
Warm up your partner’s car on a cold winter morning. If it’s cold outside, just walk outside fifteen minutes or so before your partner is about to leave and start their car for them, turning on the heat so that it’s nice and toasty when they get inside. If there’s been snow or ice, clear it off for them. It’s a little gesture, but it’s one that shows a great deal of love because it saves them from getting cold and dealing with frosty windows.
Write your wedding vows carefully in marker or a thick pen on card stock, put them in an inexpensive frame, and hang it in your bedroom. Put it over your bed if there’s a spot on the wall. Those words will remind you every day of the commitment you made and they’ll remind your partner every day of the commitment you made to them.
Plan a “lunch date,” then pack a picnic and meet in a park. It can be really hard for two working adults, particularly parents, to find time for a “date,” so instead of searching through your evenings for a date night, look in the middle of your day. Pick a day to have lunch together, then pack a picnic lunch and share it together in a park before going back to work.
Think of something that you really appreciate about your partner, and then just say, “You know, you’re really amazing at…” and tell your partner about that thing you find amazing about them. It can be something small, like how amazing the meal they made was, or it can be something big, like how good they are at parenting. Just find something that your partner does well that you really appreciate, then voice that appreciation in sincere words.
Kiss your partner when your partner arrives home from work or from any extended period when they’re out of the house. Pull your partner close and just give them a quick kiss when you haven’t seen them for several hours or for longer. It’s a simple gesture that takes just a second, but it keeps those romantic fires burning in a marriage.
Take care of a responsibility for your partner and encourage your partner to use that suddenly-free time to enjoy one of their hobbies. If your partner has a responsibility or a task ahead of them, simply take care of it for them and encourage them to spend some time just relaxing or doing something fun that they value. Take care of the list of errands and let your partner spend s few hours curled up reading or doing something else they enjoy.
Make your partner a batch of their favorite cookies (or other snack) and handle all of the prep and cleanup yourself. Does your partner flip for your chocolate chip cookies? Does your partner go on and on about the breakfast burritos that you make? Maybe your partner absolutely loves from-scratch marshmallows. Whatever it is, make a big batch of that thing yourself and handle all of the prep work on your own.
Establish a regular frequent routine where it’s just the two of you together, even if it’s something as simple as a shared beverage on the back porch after the kids are in bed. Make this something that occurs every day or at least multiple times a week, just a simple moment that’s shared between the two of you. For us, when the weather is nice, it’s usually some time sitting on the porch together after the kids are in bed, or on the couch together if the weather is colder, with no real distractions around us, talking about whatever comes to mind.
Kiss your partner’s ear and whisper in it that you find your partner unbelievably attractive right now. This is another one of those five second bursts of romance and passion that you can slip into almost any moment quite easily. Just lean in to your partner, whisper in their ear a bit, and give them a kiss on their earlobe. Since the words are quiet and private, use your imagination regarding what you say, but make it exciting and flattering.
Pack a lunch that they can take to work tomorrow (and maybe leave a little positive note or other trinket in there). Just assemble a lunch for your partner to take to work the next day so that they can just grab it and go when they leave in the morning. In that lunch, slip in something surprising, like perhaps one of their favorite small treats or a positive and loving note for your partner to discover.
If you have children, plan days or blocks of quality family time where you’re all engaged in the same activity that inherently allows for conversation and direct interaction. This can be surprisingly romantic if you have children. Just find a project that everyone in the family can do together and work on it in a focused way, with lots of socializing and communication and conversation built in. A board game can be good, as can yard work or gardening. Fill it with some glances at your partner with a little smile on your face.
Take a deck of inexpensive playing cards and write a romantic appreciation on the face of each one, then play a two player card game with it. If you can’t think of romantic appreciations, riff on this idea a little and find things to write on each card that draw you together in some other fashion. Perhaps the deck of cards could contain nothing but the dates of important moments in your shared lives.
Apologize, from the heart, for something you did wrong in your relationship that still bothers you, and put the blame squarely on yourself and ask for forgiveness. We’ve all made mistakes, and we’ve all made them without adequately apologizing for them. Some of those mistakes wind up held in our heart, eating away at us over time, and they can sometimes eat away at the people we love, too. The best way to fix that and to truly show love is to genuinely apologize and put the fault on yourself. No excuses, no blame on anyone but you. It’s hard, but it’s incredibly worthwhile to actually do this.
Listen to their problems and concerns without interruption, and just give words of empathy and encouragement at the end, not solutions (unless you’re asked). If your partner has something on their mind, sit and listen to their problems. This doesn’t mean being distracted by your phone or not listening while thinking of the next thing to say. Listen. Ask questions only for clarification. Instead of offering solutions, offer words of empathy and encouragement.
If you’re in a long distance relationship, make an “overnight kit” for your partner in your bathroom so that they have the toiletries and other items that they need when visiting. Find out what your partner’s preferred toiletries are and stock up on them. Have them easily available, too, and don’t just hide them away. Having those things in hand makes them feel more comfortable where you live and, by extension, more loved.
Give your partner a lengthy, slow, and patient massage. Take your time with it and focus on the pleasure that your partner is getting out of the massage above all else. Pay attention to their tense and sore places and massage them gently to take away the discomfort and pain. Let them get completely relaxed. If they drift off to sleep, that’s completely fine, because it’s a sleep of comfort and peace and love.
When your partner is doing some task that’s helpful for both of you (such as mowing the lawn), bring your partner a refreshment in the middle of that task, like a cold drink. A simple gesture like this shows strong appreciation for the fact that they’re taking on a hard task, plus love and concern for the effort they’re putting in. Something as simple as a cold washcloth or a cold drink on a hot day in the middle of a hot task can have a huge impact and mean so much.
Set aside some time each day to “check in” with your partner, ideally face to face, but by phone if necessary. This is just a moment to check in and make sure the other person is doing all right and ensuring that things are going okay in their life and that you’re in touch with what’s happening in their life. That kind of constant awareness of your partner – and encouraging that kind of awareness in your partner – can bring people incredibly close. My wife and I do this face to face each evening, usually as we’re preparing dinner or right after the kids are in bed. We do it when either of us are traveling without the other as well.
These are all simple ways to show your partner that you love them without resorting to extravagance. Depending on how your partner feels love – touch, word, action, time, gifts – the strategies on this list will help them feel that love from you.
It is that constant sense of love in a romantic relationship that can keep the fires going for years and years. It’s all about finding ways to show that love and figuring out how your partner feels that love from you. When you figure it out, the romance sticks around forever, and it doesn’t have to involve going broke for expensive gifts or experiences.
Good luck!
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The post 30 Ways to Show Your Love and Still Be Frugal appeared first on The Simple Dollar.
I mean, who needs LTE when all you use your phone for are emoji conversations with your BFFs? (And even that is on Wi-Fi.)
But in reality, most of us are probably just looking for the cheapest plan because we want to spend all our money on the most expensive iPhone.
If that sounds familiar, Sprint’s got a deal for you.
New and existing Sprint customers who add a new line through Aug. 9 can get a 64GB iPhone 8 for $8 per month plus tax with a Sprint Flex lease and $21.17 credit applied within two bills. The offer is available online or by phone, but not in stores.
The Sprint Flex lease is essentially financing your phone over 18 months. At the end, you can return it or buy it out in a lump sum, or through six additional payments. An 18-month lease and approved credit are required.
This doesn’t include your wireless service. Per the Sprint Flex lease, if you want to keep the phone, the remaining balance will be due in 18 to 24 months.
Or if you want to return it in 18 months and get the next new device Apple convinces us we need, you’ll have only paid around $144 plus tax for use of the phone, currently priced at $699.99.
By comparison, if you bought a 32GB iPhone 7 for $649 when it came out in September 2016 and tried to sell it now, you’d only get about $185 for it. Which means it cost you $464 to use your iPhone 7.
Remember, the deal is only available for 10 days — July 31 to Aug. 9 — and can only be redeemed online or by calling 1-800-SPRINT-1.
If you’re the type of person who gets a new phone every 12 to 18 months, this is actually a pretty good deal. But if you really want to save money, you can just buy an inexpensive phone and keep it until it dies.
Jen Smith is a staff writer at The Penny Hoarder. She’s had her Sprint iPhone for 17 months and gets mostly shoddy service. She gives money-saving and debt-payoff tips on Instagram at @savingwithspunk.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Health conditions, along with age, are the main factors determining your eligibility for life insurance.
Even more specifically, they’ll determine the premium rate you’ll pay for a policy.
In the grand scheme of things, sleep apnea is often relatively low on the risk level scale.
But it mostly depends on the degree of sleep apnea you have.
More serious levels of sleep apnea can result in higher premiums.
And at the extreme, a severe case may result in a decline.
But in many cases, it is possible to get an affordable life insurance policy with sleep apnea, even with preferred rates.
Sleep apnea was once mostly associated with snoring, but that’s hardly the only reason for concern.
Sleep apnea is actually a medical condition that can affect overall health and longevity.
Since it refers to difficulty breathing while sleeping, sleep apnea can cause a reduction in oxygen in the bloodstream.
Sleep apnea leads to drowsiness during the daytime hours.
That drowsiness could cause car accidents, which in and of itself is a risk factor for life insurance.
But of greater concern is the likelihood that sleep apnea can cause lung damage, cardiovascular issues, and hypertension, stroke, or heart failure – if left untreated, all high-risk factors for life insurance.
There’s also evidence sleep apnea increases the chance of depression.
Various studies have indicated sleep apnea causes a significant increase in the incidence of cancer.
Sleep apnea can be caused by an obstruction of the upper airway, but it can also be the result of the brain’s inability to properly regulate breathing.
Obesity and cigarette smoking are also common causes.
Sleep apnea is more common in men, and the incidence increases with age.
And though it is more common in people over the age of 40, it can also affect children.
There’s also some indication sleep apnea may be genetic.
There are two types of sleep apnea:
The first is obstructive sleep apnea, or OSA. It’s caused by a blockage of the airway.
The soft tissue at the back of the throat collapses during sleep.
OSA is the more common form of sleep apnea.
The second is central sleep apnea.
It’s not caused by a blocked airway, but by the brain failing to signal to the muscles to breathe.
This failure is due to instability in the respiratory control center of the brain.
Central sleep apnea is generally the more serious of the two.
If obesity is a contributing factor, the most obvious treatment is weight loss.
Sleep apnea can also be alleviated by proper sleeping position.
For example, if you have the condition, it’s best to avoid sleeping on your back.
Smoking is also a factor since it has a negative impact on the respiratory system in general.
Eliminating smoking can improve overall breathing function, reducing the symptoms of sleep apnea, and can also lower your rates as life insurance for smokers can be costly.
Excess alcohol consumption has also been linked to sleep apnea, and a reduction in consumption is strongly recommended.
With obstructive sleep apnea, there are a variety of causes for a blockage.
These can include having large tonsils, a large tongue, a small jawbone, or even a large neck size.
It could also be the result of a nasal obstruction, sinus problems, allergies, or a deviated septum.
It’s possible that sinus problems or allergies can be treated medically.
And of course, tonsils and a deviated septum can be surgically repaired.
The most specific treatment for sleep apnea is a machine known as a continuous positive airway pressure machine, better known as a CPAP.
The system uses an air pump connected to a mask worn over the face.
It provides airflow during inhalation to prevent the airway from collapsing.
A CPAP not only relieves the symptoms of sleep apnea, like difficulty breathing and snoring, but it enables the user to get a deep and restful sleep.
It is this absence of sleep that causes health conditions, including drowsiness and hypertension.
The unit takes some getting used to but generally produces very positive results in dealing with the condition.
For some, use of a CPAP may be a temporary measure until other efforts, like quitting smoking and losing weight, take effect.
But for others, use can become permanent.
If you’re diagnosed with sleep apnea and you apply for life insurance, you’ll need to disclose the condition and all the details on your application.
It’s necessary to be absolutely truthful with this process.
The insurance company will not only get information from your application, but they’ll also check your medical records, even with a no exam life insurance policy.
Be as specific as possible.
And never try to omit a condition like sleep apnea, or any other health condition for that matter.
Specific questions regarding your condition will include:
Your answer to the last question will be particularly important.
Sleep apnea is considered a health condition all its own.
But the insurance underwriting decision becomes more challenging if there are other conditions, such as obesity, heart arrhythmia, coronary artery disease, stroke, heart failure, depression, or other respiratory-related conditions.
In applying for life insurance with sleep apnea, you should be proactive in dealing with the condition.
You should be working with the appropriate medical professionals on a regular basis and faithfully participating in any prescribed treatment regimes.
You should also stay on top of your overall health.
This will mean eating a balanced diet and maintaining your body weight, getting regular exercise, and dealing with any other health issues you have, like hypertension.
Sleep apnea can be indicated by loud snoring, waking repeatedly, drowsiness, lack of energy during the day, morning headaches, or a sore throat.
The final determination is made by a specific medical test.
If you show symptoms of sleep apnea, you’ll be given a polysomnogram, more commonly known as a sleep study.
At one time, sleep studies were done at sleep disorder centers.
But as technology has improved, a sleep apnea test can now be done at home!
You wear an electronic device – generally on your hip – that’s connected to your face.
It electronically transmits and records your physical activity while you sleep.
The results are then analyzed by a sleep specialist.
This test will determine not only the existence of sleep apnea, but also the degree of the condition.
If you have a mild level of sleep apnea with no related health conditions, you may get only a slight increase in your insurance premium.
With certain insurance companies, it’s even possible that you’ll get a preferred rate.
Naturally, you’ll need to be a non-smoker with no other health-related conditions.
If the condition is more serious, you may still get an approval, but it will come with a much higher premium.
It’s even possible the amount of your death benefit will be approved at less than the amount requested.
The type of sleep apnea you have is also a factor.
OSA is not only the more common form, but it’s also more treatable.
You’re more likely to be approved and at better rates than if you have central sleep apnea.
There are literally scores of life insurance companies, and many of them advertise very low premium rates.
If you have sleep apnea – or virtually any other type of health condition – don’t be drawn to those companies.
They’re offering lowball rates aimed squarely at those with the very best life insurance profiles.
Those are usually people who are young, non-smokers in excellent health, and with no major health conditions.
In short, you won’t qualify for those rates.
At the same time, don’t make the mistaken assumption that companies that have the lowest premiums for the best case customers will also be the lowest for people with health conditions.
Most are specifically targeting the healthiest segment of the population and may specifically exclude those with health conditions.
Applying with such companies doesn’t come without risk.
If you apply and get turned down, the decline will be part of your permanent insurance record.
That record can have a negative impact on an application with other companies.
Anytime you have any type of health condition, including sleep apnea, it’s important to apply to life insurance companies that take the most favorable view of your condition.
And there are such companies out there – you just need to know where to look to find the best life insurance companies.
The best course of action when you have a health condition is always to apply for life insurance through a qualified insurance broker.
We know exactly who the insurance companies are who are most likely to approve your application, and at the best possible premium.
Next to taking care of your health, having a good insurance broker in your corner is the single best strategy for getting an affordable life insurance policy when you have any type of health condition.
The post Simpler Life Insurance for People with Sleep Apnea appeared first on Good Financial Cents.
In previous generations, struggles with depression and anxiety were rarely discussed.
But today, more and more people are opening up about their mental health.
Every day, a new celebrity discusses their mental health issues.
And businesses and organizations are beginning to build programs and benefits to help their employees’ mental and emotional stability.
Because there’s a lot of conversation surrounding depression now, you might be wondering about the relationship between your depression and life insurance options.
Read on to learn about how your depression might impact your life insurance options and get information on the best life insurance coverage on the market.
Here’s where to start:
Let’s look at the numbers.
The fact of the matter is, depression is more common than most Americans realize.
With more than 16 million people suffering from depression, life insurance companies are now faced with making decisions on how a diagnosis of depression might change their plans and premiums.
Not every depression is the same.
With depression, like any other illness, there are different forms and varying degrees of severity.
The specific type of depression you have and the severity of it could change how much your premiums are and your ability to get approved.
Let’s take a look at some of those different types:
Major depression is what most people probably think of when they hear the word depression.
People with major depression have feelings of sadness, less energy, extreme irritability, problems sleeping, changes in eating patterns, and more.
Depending on the severity of major depression, it can prevent people from going about their lives.
This is a less severe kind of depression.
Most people classify dysthymia as a “functional depression,” meaning patients will feel “off,” but it doesn’t stop them from their day to day activities.
Symptoms can range from sadness to problems sleeping.
With a diagnosis of dysthymia, most professionals suggest talking to a therapist before trying medication.
Here’s a statistic you might find shocking:
85% of new mothers feel “down” or “blue” after having their baby.
Around 16% of those new mothers are diagnosed with postpartum depression.
Much like other kinds of depression, postpartum depression has the same symptoms: sadness, anxiety, tiredness, etc.
With this kind of disorder, mothers might feel an extreme disconnection from their child or fear of harming the baby.
This depression typically develops in the first year after giving birth.
As you can probably figure out from the name, SAD impacts people during the winter months.
Lack of sunlight is primarily to blame for SAD, making people more irritable, tired, and anxious during winter.
While some depressive diagnoses might require little treatment or may pass with time, others like psychotic depression require more attention.
This kind of depression is characterized by bouts of psychosis, which involves hearing sounds or seeing sights which aren’t there, or having delusions.
Psychotic depression can create serious problems if not managed correctly.
Everyone has heard of bipolar disorder, but few people understand what it actually is.
One of the most stigmatized types of depression, bipolar disorder, occurs when a patient suffers from drastic lows and then extreme highs.
Bipolar disorder is also known as manic-depressive because the moods fluctuate between mania and depression.
Mania is classified as having more excitement than usual, high-energy, racing thoughts, and excessive confidence.
Like the other types of depression on the list, bipolar disorder can be treated with medication and therapy.
Also called adjustment disorder, situational depression is caused by a big life-changing event or a stretch of high-stress.
This is one of the most common types of depression because everyone experiences times in their lives which are very stressful.
Usually, situational depression doesn’t need medication, but it can be treated with a short-term prescription if your doctor sees the need.
With a general idea of the most common types of depression, let’s review which life insurance companies provide the most beneficial coverage for clients with mental health issues.
With some high-risk applicants, like smokers, there is a consensus among insurance providers on how their premiums will be rated (with life insurance for smokers being much higher).
Here are who we consider to be the top five:
With conditions like depression or anxiety, there is far less agreement across the board.
In fact, there is no standard rating class for depression, making the time you spend shopping for your life insurance even more important.
With a little research, you can determine how much term life insurance you need, or maybe land on a whole life policy to meet your needs at an affordable rate.
Since some companies have harsher guidelines than others, you need to pinpoint a carrier who is lenient and still awards the best rates possible.
I’ve done a bit of that research for you, comparing and compiling the best life insurance companies for individuals with depression.
Through the years, Lincoln Financial has excelled at selling insurance to higher risk clients.
They have carved a niche for applicants with higher cholesterol scores, older clients, clients who use tobacco, and more.
One of the categories where Lincoln excels is with applicants with depression or anxiety problems.
Every time I’ve talked to a client with depression who has gotten quotes from several companies, they relay that Lincoln is one of the cheapest options.
Not only are they one of the more affordable choices for individuals with depression, but they also have several plans to choose from.
Lincoln sells traditional level term plans (Lincoln Life Elements Level Term), no exam policies, permanent life insurance, and guaranteed issue plans.
Another solid choice for individuals with depression, Prudential is known for their recognizable logo, “The Rock.”
While you’ve probably seen their mountainous logo, you may not know about their rates for people diagnosed with depression.
Prudential is also excellent for any client who is considered overweight, as their weight charts are looser than other companies.
Compared to other carriers, Prudential is more willing to take on higher-risk life insurance clients in general.
Another unique factor of Prudential is their “non-smoker plus” rate class for people who are in great health otherwise, but smoke.
Hancock is one of the oldest life insurance companies in America, having been in operation for more than 150 years.
And there’s a reason they’ve been around for so long.
Hancock is an extremely stable company who has perfected their customer service and their life insurance products.
They’ve thrived for a long time, and professionals expect them to continue to for an even longer time.
Not to mention they have some of the best grades from all of the insurer rating companies (A.M. Best, Moody’s, Fitch).
To be honest, AIG is not going to be the fastest company, but if you’re willing to wait, they can be a great pick.
AIG has plenty of options and rates to rival most of the competition.
AIG believes in tailoring plans to meet YOUR needs, not forcing you into a pre-planned policy.
One of their most unique strengths is their term policy’s flexibility.
For example, you don’t have to buy a 20-year term plan if you only want 16 years.
It’s your plan, and you can customize it to meet your exact needs.
If you’re interested in buying insurance for your children as well as yourself, Protective has products designed for you.
One of their greatest plans is the “Protect My Child” whole life policy.
If your child is between the ages of 2 weeks old to 17, you can buy this plan and it will give up to $100,000, which will double when they turn 18.
The best part, for sufferers of depression, is that there is no medical exam required. Period.
Maybe you don’t want to go through all the hassle of a traditional policy.
If so, then you’re the ideal candidate for a no exam life insurance plan.
Just about every company on the market sells a version of life insurance without the health exam portion.
The company will still look at your medical records and prescription history, and you’ll still need to complete the health questionnaire.
No exam is quicker and easier, but it’s also more expensive and restricting.
Every carry puts a lower limit on the amount of life insurance you can buy with a no exam policy as well.
If you’re considering buying a no exam option, you need to decide what’s more important to you: a lower premium or convenience.
Do your research, compare rates, and see how your depression will impact your premiums, with and without an exam.
Here’s some good news: people with depression can still get Preferred or Preferred Plus rates!
During the series of health questions most insurers require, you’ll be asked about your depression diagnosis, the severity, the timeframe, and how it was or is treated.
If it’s been several years since you were treated with depression and you no longer take medication, then it won’t jack your rates up.
As long as you’re managing your depression carefully, you can end up in the best possible class.
The most common rate class is Standard.
Having depression does put a red mark on your application.
If you have any other health problems or other red marks, then you’re probably going to be put down a peg when it comes to your rate class.
Standard rates are not the lowest, but they are still extremely affordable with most companies.
If you’re in exceedingly poor health, there is always a chance you’ll get sub-standard rates.
So if you have depression or anxiety paired with other major health complications, the carrier might be more wary of awarding your coverage.
Just as people are different, each depression and anxiety diagnosis is different.
Some are more severe than others, some need prescription treatments, others need therapy to heal.
Some complications are long-lasting, while others may be a short chapter in your history.
When it comes to applying for life insurance with depression, there is no “ultimate guide.”
But if you’re diagnosed with depression or you’ve suffered from an anxiety in the past, take heart knowing there are policies on the market you can afford.
Get started with our easy to use life insurance quoting tool on the side of the screen.
With this form, you’ll get almost instant quotes from the dozens of carriers we’ve partnered with.
Ease your mind, ease your insurance shopping process, and pick up a great life insurance policy today.
The post Affordable Life Insurance for People With Depression appeared first on Good Financial Cents.
Deciding whether to take out a personal loan is a “personal” decision, but it’s also one that’s rife with risk. If you borrow money you cannot pay back, you can end up with all sorts of consequences that make your life more difficult. This could include ruined credit, additional fees and interest charges, and even bankruptcy.
But, that doesn’t mean personal loans are a bad deal all the time. Really, any loan can be a valuable financial tool if used wisely and responsibly — and with a plan in mind.
Still, it’s wise to consider when a personal loan would benefit you, when you should avoid borrowing money, and when a different financial product may just be a better deal.
Before you pull the trigger on a personal loan, you should make sure you understand how a loan could benefit you or hurt you. Here are some signs this financial product may be perfect for your needs:
One of the biggest benefits of personal loans is the fact they offer a fixed repayment schedule and a fixed interest rate. This means you’ll be able to agree to a set monthly payment ahead of time, and you’ll never be surprised by a larger-than-usual bill.
If you need to borrow money but don’t want any surprises along the way, a personal loan may be exactly what you need.
While you can use the funds from a personal loan to cover any expense you want, these loans are best for people who have a big expense they need time to pay off. This could include surprise medical bills, a new motor for your car, or a roof you had no idea you would need to replace this year.
With a personal loan, you can borrow a set amount of money then pay it back over several years. Most personal loans are offered in amounts up to $35,000, and your interest rate could be as low as 3%, depending on your creditworthiness.
Just because you qualify for a personal loan, that doesn’t mean you can afford it. Before you take out a personal loan, you should use a loan calculator to find out your future monthly payment based on how much you want to borrow and the interest rate you can qualify for.
From there, you can take a look at your budget and expenses to see if the loan payment stretches you too thin. If it does, you should probably hold off on getting a personal loan — at least for now.
While it’s possible to qualify for a personal loan if you have poor credit or a thin credit profile, you’ll pay a much higher interest rate for the privilege of borrowing. How much? Some personal loans for people with bad credit come with an APR of over 35%!
If you have bad credit, you may want to put off your personal loan until you can take steps to boost your credit score. Start by getting any late bills you have up to date and make sure you make all your other monthly payments on time. Paying down debt and credit card balances can also have a marked effect on your credit, since your utilization makes up 30% of your FICO score.
If you need access to credit to improve your credit score, you can also consider a secured credit card or a credit builder loan.
One of the best uses of a personal loan comes into play when you have a lot of high-interest debt. Of course, this is mostly just true if your credit is good enough to qualify for a personal loan with a great APR.
If you consolidate high-interest debt into a new personal loan with a lower, fixed interest rate, you’ll start saving money right off the bat. Going from several payments to just one each month can also simplify your finances and make debt repayment that much easier to bear.
While any of the reasons above are good ones if you want to take out a personal loan, there are plenty of reasons to skip personal loans — or any other type of loan — altogether. There are also scenarios where a different financial product would be more beneficial.
Some of the reasons a personal loan may not be for you include:
If you’re struggling to make payments on credit cards, student loans, or other bills, chances are good borrowing more money will not help. In fact, borrowing more cash just to stay on top of your expenses could lead to a debt spiral in a hurry. After all, adding one more monthly payment to your life is probably a bad idea when you can’t keep up with the payments you already have.
If you’re truly struggling to keep the lights on as it is, it’s probably wise to take a holistic look at your finances before you borrow money. Consider where you could cut to improve your cash flow and whether you need to switch to a bare bones budget for a while.
If you can cut your spending in any way, you may be able to improve your financial situation without borrowing more.
While there’s nothing wrong with borrowing money for college, a personal loan is rarely the best deal. Most borrowers would be a lot better off taking out federal student loans to pay for school since they offer lower fixed interest rates and federal protections like deferment and forbearance.
Federal student loans also qualify for income-driven repayment plans that come with low monthly payments and, in some cases, eventual forgiveness of your loans after 20 to 25 years.
If you want to splurge for something expensive, borrowing money could leave you in a world of hurt. A vacation to Hawaii may sound like something you won’t regret borrowing for. However, paying off that trip for the next several years would surely change your tune three or four years afterward.
There’s nothing wrong with splurging, but you should try to save up the money to pay in cash if you want to treat yourself. Trust us; buying something you truly want is a lot more fun when you pay with money you already have.
We already mentioned how a personal loan can be used to consolidate high-interest debts into a better financial product. However, this is mainly true when you have a lot of debt to refinance and need several years to pay it down.
If you only owe a small amount of debt you could pay down in a few years or less, you may be a lot better off with a balance transfer card. Balance transfer cards offer 0% APR on balance transfers for up to 21 months. Some even come without any balance transfer fees, which can help you pay down debt without any additional costs.
If you want to remodel your home, a personal loan can absolutely work. Still, you should also consider a home equity loan. These loans work similarly to personal loans in that they offer a fixed interest rate and a fixed monthly payment for a specific set of time. The difference is, home equity loans are secured — meaning your home acts as collateral, making it less risky for the lender — so they usually offer lower interest rates than you can get elsewhere.
Another option is a HELOC, or home equity line of credit. These loans work as a line of credit you can borrow against, and they tend to come with variable rates. Once again, rates on these loans tend to be lower since you’re using your home as collateral.
Fees for both home equity loans and HELOCs tend to be low, but you should watch out for origination fees and closing costs. Also keep in mind that some home equity loans and HELOCs are offered with no fees and extremely low rates.
A personal loan could help you achieve myriad financial goals, but it could also cause as many problems as it solves. Before you apply for a personal loan, take stock of your financial position and make sure you know what you’re getting into. Personal loans can be valuable financial tools, but they can also lead to years of stress and debt.
Holly Johnson is an award-winning personal finance writer and the author of Zero Down Your Debt. Johnson shares her obsession with frugality, budgeting, and travel at ClubThrifty.com.
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The post When You Should (and Shouldn’t) Use a Personal Loan appeared first on The Simple Dollar.
Two major schools of thought dominate the debt repayment sphere: debt snowball and debt avalanche.
One says pay off debts with the highest interest rate first. That’s the debt avalanche method.
The other says pay off your smallest balances first so you can enjoy quicker victories and build confidence. That’s called the debt snowball method. That’s what I’m talking about now.
Pioneered by money guru Dave Ramsey, the debt snowball refers to paying off one credit card or loan balance at a time, starting with the smallest balance first. Perfect for instant gratification; not so good for interest long term.
Smart finance experts will tell you sitting on credit card debt with high interest is stupid. The longer it’s unpaid, the more it will cost you.
So why would you pay off smaller balances and let those interest mongers sit?
Because, dude, paying down debt is hard.
When you stare at your credit report and see a list of lenders and credit card companies staring back at you, it’s like that time you panicked during Red Rover in second grade, froze, wet your pants and ruined recess. (Oh, doesn’t everyone have that memory?)
It’s hard to take the first step. Especially when reaching your destination means a bully might clothesline you.
The debt snowball method helps you take the first step. And the next, and the one after that.
Wouldn’t Red Rover have been more pleasant if you’d gotten a few practice runs against a couple of the weakest kids in class before taking on the toughest? It’s kinda like that.
Pay down your smallest balance aggressively. Once it’s gone, you’re like, “Hey! I can do this.”
Then you focus on the next-smallest debt with more confidence. It’s paid off, and you’re like, “Oh my god, I’m a debt-slaying goddess.”
To use the debt snowball method, start by listing all your debts. A spreadsheet is a good way to go, because it’s easy to sort. Think:
Then use that nifty “sort by column” feature to organize these from the smallest balance to the largest.
Each month, continue to make minimum required payments on all your debts, so you don’t incur late fees. Any extra money you can spare? Put it toward that debt with the smallest balance (at the top your spreadsheet list).
If you want help fitting your debt repayment into your budget, try a budgeting app. Dave Ramsey’s EveryDollar app includes a “debt” category, where you can list and rank your debts and track your progress toward paying them off.
Let’s try an example. Say you have:
Your minimum payments add up to $800 a month, so budget for those first. Then you’ve got $200 extra. If you put it toward that Visa bill, you can pay that baby off in six and a half months and check it off your list.
Then you’re left with:
That’s $595 in monthly minimums, and now you have $405 extra. (See how it snowballs?) Pay off that Mastercard, and you’ll free up another few hundred a month to pay toward your car loan, and then your student loans. Get it?
Here’s how you’ll pay off the Visa in six and a half months:
| Debt Account | Balance | Monthly Minimum | You Pay |
|---|---|---|---|
| Visa | $2,000 | $100 | $300 |
| Mastercard | $7,000 | $350 | $350 |
| Car loan | $8,000 | $200 | $200 |
| Student loans | $10,000 | $150 | $150 |
| Debt Account | Balance | Monthly Minimum | You Pay |
|---|---|---|---|
| Mastercard | $4,900 | $245 | $650 |
| Car loan | $6,800 | $200 | $200 |
| Student loans | $9,100 | $150 | $150 |
| Debt Account | Balance | Monthly Minimum | You Pay |
|---|---|---|---|
| Car loan | $5,400 | $200 | $850 |
| Student loans | $8,050 | $150 | $150 |
| Debt Account | Balance | Monthly Minimum | You Pay |
|---|---|---|---|
| Student loans | $7,150 | $150 | $1,000 |
Here’s a caveat to that example above: I didn’t include interest. (Did you catch that?)Debt Snowball Method: Is It the Best Way out of Debt?
That’s the kicker with the debt snowball method. As you focus on one debt and putter along with minimum payments on the rest, they’ll accrue interest. High interest rates plus high balances equals more debt.
Compared with the debt avalanche method — in which you’ll tackle your highest-interest debt first — a debt snowball could mean you’ll pay more over time and maybe take longer to be debt-free.
So, why do it? It’s about motivation.
If you tackle debt with the avalanche method, you might be paying on that high-interest stuff for a while before you can knock it off your list. It can feel like you’ll never be done paying off debt.
The snowball method lets you see results more quickly — your list of debts gets shorter. If you have trouble staying focused, those wins can be a huge boost to keep going.
Need even more motivation to keep at it?
Use this fun trick to keep your debt-payoff goals top of mind and celebrate your progress paying it off: Create debt art.
You know those thermometers you see around town to measure an organization’s fundraiser? They help the organization track and celebrate its progress toward its goal.
Debt art is like that.
You can create artwork that measures your debt as you pay it off. It’s prettier than those giant thermometers, but still helps you focus on your goal.
It’s like adult coloring pages, but with a purpose.
You’ll start with an image for each of your debt accounts, where each section is assigned a payment value. Color in a section as you make payments.
When the image is colored in, check that debt off your list!
Feel free to get creative and create your own — but, in case that’s not your thing, we created some debt art you can download and print for free.
Dana Sitar is a writer and editor at The Penny Hoarder. Say hi and tell her a good joke on Twitter @danasitar.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
I’ll have a salad bowl to go, please. Skip the rice and beans. No vinaigrette. Extra veggies. Half chicken, half steak. Mild salsa. And can you add guac?
Yes, I know it’s extra. Yes, that’s OK.
My total: $10.01.
But for one day this week, that’s going to change. On Tuesday, July 31, Chipotle guac is free when you order an entree in honor of National Avocado Day.
The chain made the announcement via Twitter with a screenshot of the email approving the freebie.
If you want to take advantage of the deal, you have to place your order online or via the Chipotle app. Just add guac to your entree and enter coupon code AVOCADO at checkout, and the extra charge will disappear.
If you try to place your order in person, you’ll be denied.
Desiree Stennett (@desi_stennett) is a senior writer at The Penny Hoarder.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
On two wheels or four, you have the same goal: to get where you’re going.
But, oh, what a difference between a car and a motorcycle!
On a bike you’re more than just a passive viewer behind a windshield, you’re part of the landscape.
Your motorcycle insurance should also be distinct even though it shares a common goal with your car insurance: to protect your property and provide some backup if the worst happens.
While your car insurer may do a great job insuring your car, it may not necessarily provide the best motorcycle coverage.
When you’re shopping for a motorcycle, take a few minutes to learn the basics of motorcycle insurance and how to get the best coverage at the best price.
If you’re already a seasoned biker, check the mechanics of your policy to make sure it’s clicking on all cylinders.
Like car insurance, motorcycle insurance comes as a packaged deal.
That is, you pay one premium which funds several different kinds of coverage:
In some cases, you can decide how much of each coverage to buy, and these decisions will directly impact your premium.
However, most states require a minimum liability coverage amount.
If you owe money on your bike, the bank may also require you to carry both comprehensive and collision.
Usually, an item worth more costs more to insure. Motorcycles cost less than cars, on average, so conventional wisdom may suggest lower insurance costs.
But insurance underwriters also consider the likelihood of a wreck, and motorcycles are more likely to be in wrecks. A lot more likely.
In fact, the National Highway Traffic Safety Administration’s most recent data says motorcycle riders are 28 times more likely than auto drivers to be in a fatal wreck.
This increased risk translates into higher premiums for motorcycle owners.
Yes, motorcycles tend to cost more to insure, but you can still find ways to save money and have good coverage in place to protect your investment, yourself, and your financial security in case of an at-fault wreck.
It’s a simple equation:
The more coverage you have, the more you’ll pay in premiums.
You can control costs by carrying only the insurance you actually need (so long as you meet your state and/or bank’s minimum).
This doesn’t mean you should put yourself at risk by not buying enough coverage, even if you live in a state that does not require liability coverage for bikers. That’s not smart for several reasons.
But when you’re buying coverage or looking over the coverage you already have, make sure it matches the reality of your ride.
A bike worth $5,000, for example, won’t need $12,000 in comprehensive and collision coverage.
And decide whether you really need extra services such as roadside assistance or towing that your insurer may add to your policy.
We’ll go into more detail about customizing your coverage below.
This is the big one.
Like I mentioned above, the federal statistics on motorcycle deaths are staggering.
Part of this comes from the nature of the beast.
Without airbags, roll bars, and other auto safety features, a motorcycle rider has much less protection during a collision.
Which is why it’s even more important to drive defensively and obey traffic laws on your bike.
Decreasing your accident risk will prevent costly premium increases resulting from traffic violations and wrecks.
Since underwriters determine a driver’s likelihood of being in a wreck based partly on your driving record, careful drivers have access to lower premiums.
Motorcycles with smaller engines usually cost less to insure. Again, this is directly related to accident risk. Smaller engines offer less power and speed so they’re less likely to be involved in wrecks.
If you want a big bike’s power and maneuverability, this may not be your way to save on insurance.
But if you’re in the market for a bike and haven’t decided which one to buy, it’s something to keep in mind.
And it’s not all about size: Sportier bikes tend to cost more to insure, too.
Most insurers offer discounts. Many even let you stack discounts to maximize savings.
Your current insurance company may offer discounts you don’t even know about.
Common discounts include:
Statistics show younger people drive more recklessly than older people. Sure there are exceptions, but underwriters go with statistical norms, so younger drivers will likely pay more for insurance.
When you’re young, there’s nothing you can do about it. Enjoy your youth and work hard to pay those higher premiums.
If you’re a little older, though, and you’re thinking about adding a younger driver to your policy, talk to your insurance agency about ways you can keep costs down.
Finding some other mode of transportation for that younger driver and keeping him off your policy will save a lot.
Your deductible has a direct impact on your premiums.
The higher your deductible, the lower your premiums.
A higher deductible means you’ll have to pay more out of pocket after an accident or theft before your insurance coverage kicks in.
This can be a slippery slope.
While it’s tempting to raise that deductible and enjoy the month-to-month savings, raising it too much will make it harder to access your coverage if you needed it.
If there’s no way you could come up with, say, $2,000 in any given week, a $2,000 deductible may be too high. When you can afford a higher deductible, though, it will pay off in premium rates.
Research has connected lower credit scores with higher claims, so if your credit score needs improvement, you could be paying higher premiums.
Almost all states allow insurance companies to consider your credit history when setting your premiums. (Hawaii, California and Massachusetts are the exceptions.)
You can fix this by working on your credit score: Pay your bills on time.
Monitor your score using an online tool like Credit Sesame or Credit Karma in case one of your credit accounts makes a reporting error.
When you start seeing an improvement in your credit score, make sure your insurance agent is re-running your credit before renewing your policy.
Thankfully, the days of making dozens of phone calls to find the best insurance rates have passed. You can find and compare quotes online and find insurance companies specializing in the kind of coverage you need.
We’ll look at eight of my favorite motorcycle insurers below.
This doesn’t mean you shouldn’t find in-person help when you need it.
An independent agent in your area can help you compare policies from many different insurers so you can find a company that meets your needs.
Bikers who live in cold weather states may go months without riding each winter. When your bike is covered and stored, couldn’t you just cancel the policy?
Repeatedly canceling and re-starting coverage has some disadvantages, including a potential for unnecessary fees and hassle. Also, what if someone broke into your garage and stole your bike while you had no insurance?
Some insurers offer a nice in-between: Lay-up policies for motorcycles.
This kind of policy reduces your coverage in months when you’re not riding without doing away with your protection altogether.
Ask your insurance company or your independent agent about lay-up coverage. And if you do go this route, make sure you don’t go out riding during the lay-up period since you wouldn’t be protected out there.
Remember the story of Goldilocks and the Three Bears?
Goldilocks had a real gift for finding balance in her life: not too hot, not too cold, but just right.
Goldilocks would have made a great insurance shopper because finding coverage that’s “just right” can make all the difference.
Going without enough coverage, for example, puts your bike and your health at risk, along with the property and health of other drivers and passengers.
And, if you caused a wreck and your policy didn’t have enough coverage to make things right, you’d be personally responsible to pay. If you couldn’t pay, a court could seize your assets.
On the flip side, having too much coverage means you’re spending too much on premiums.
Given a choice, I’d say this is preferable to inadequate coverage, but you could be saving or investing that extra money or at least taking some pressure off your monthly budget.
The best solution, of course, is the “just right” approach.
If insurance were as simple as Goldilocks’ porridge you could tell right away whether you had coverage that fits your needs.
In reality, finding just right coverage takes a little more time and thought, but it is possible and worthwhile.
Going through the elements of a motorcycle insurance package one by one is the place to start:
Liability: We’ll start here because you may have less control over how much liability coverage to buy. Your state (unless you live in Florida or Washington State) will require a minimum coverage amount.
The question becomes: Is your state’s minimum requirement enough?
The Insurance Information Institute recommends at least $100,000 in bodily injury liability and $300,000 in total liability per accident. Many states’ minimum requirements come nowhere close to this standard.
You can save on premiums by sticking with your state’s minimum, but remember that you could be personally responsible for damages exceeding your coverage amount.
Finding the right balance will be up to you. A good general rule, though, is to have enough liability coverage to protect your financial assets such as savings, real estate investments, and so on, from seizure.
If your assets exceed the limits of a standard policy, ask your agent about an umbrella policy which can extend your liability coverage.
Collision: Your lien holder may require you to carry at least enough collision to pay back the loan in case your bike is damaged or destroyed.
If you’ve paid off your ride, collision coverage may be optional. Going without it can save a lot in monthly premiums, but it also puts your property at risk.
Unless you can afford to quickly and easily replace your bike, you probably need collision coverage to match the market value of your bike.
But you may not need collision coverage if:
Again, it’s your decision. There’s a “just right” scenario for you somewhere on the spectrum between not enough and too much coverage.
Comprehensive: Your lien holder may have some minimum requirements here too.
Since this coverage protects your bike against theft, vandalism, or acts of nature, it’s usually a good value. With a collector’s bike or a classic, comprehensive may be a must.
When you’re shopping for your coverage, be sure to find out whether your comprehensive (and your collision) would pay actual cash value or a stated value:
Just like with collision coverage, you’re protecting your own property with comprehensive coverage. It’s up to you to find the right balance.
Medical payments: Let’s not sugar-coat it. Riding a motorcycle is dangerous. Bikers fortunate enough to survive a bad wreck may leave the hospital with hundreds of thousands of dollars in medical bills.
Hopefully, your health insurance would be up to the job of protecting you from these astronomical expenses. If not, or if you’d like to have extra protection, medical payment (MedPay) coverage could help.
MedPay is optional in most states, but you know your own situation better than anyone else and should get coverage to fit your life.
Uninsured / Underinsured: Unfortunately not everyone follows insurance laws. Uninsured / Underinsured coverage can keep you from footing the entire bill if someone without insurance or without enough insurance hits you on the highway.
Check with your agent to see if your state requires this kind of coverage or if it requires insurers to offer it. Pay special attention to this coverage in states like Florida and Washington which do not require minimum liability coverage.
Add-ons: These bells and whistles vary among insurers and they can make your life easier.
Common add-ons include:
Additions like these offer convenience but they also raise your premiums.
Someone looking for the lowest premiums should pass on these unless you have a specific and regular need for the extra coverage.
You’ve looked at each area within a motorcycle insurance policy. You’ve gotten a good idea how much coverage to buy.
Now it’s time to look for a company that can provide what you need.
Hundreds of insurance companies offer coverage, so finding the right one could take months when you’re working alone.
To make things easier, I’d like to share eight of my personal favorites. Every company on my list has earned high ratings from independent ratings agencies, which means it should be a reliable partner down the road.
No list can include every solid insurance company, though. If another company has worked well for you and it has good ratings, stick with it.
When you’re looking for new coverage or trying to replace existing coverage, I think any of the companies below would be a great place to start if it offers coverage in your state:
Amica has topped a lot of insurance lists lately, even though many people still haven’t heard of the Rhode Island-based company.
Amica is among the industry’s leaders in customer service, especially during the claims process.
Like any insurance company, Amica has customers who have shared negative feedback.
But remember, happy customers are much less likely to share their experiences, and the vast majority of Amica’s customers seem to be satisfied with their coverage and their ability to access it when needed.
Be sure to ask about discounts for the safety features on your bike.
Like Amica, Dairyland Auto & Cycle Insurance may not have the biggest national advertising budget, but it offers solid coverage and has many satisfied customers.
Unlike most insurers, this Wisconsin-based company with more than six decades in the business focuses specifically on vehicles.
Because of this specialization, Dairyland can offer uncommon attention to detail. For example, you can insure personal belongings on your bike, specify the amount of coverage for a passenger, and get special discounts for membership in motorcycle associations.
Since Dairyland does not offer home, life, health, or other kinds of coverage, you won’t have as many opportunities to bundle coverage.
We all know about Progressive from the company’s ads, but how does it stack up to unbiased scrutiny?
Quite well. The 80+-year-old company offers an uncommon combination of strength, stability, and flexibility.
Standard benefits even include full replacement costs without depreciation which makes Progressive a great choice for classic bike owners.
Progressive is also less likely to hike up premiums after an accident because it offers a more nuanced than usual accident forgiveness program. For example, a claim of $500 or less should not affect your premiums.
If you’ve never owned a motorcycle, you probably haven’t heard of Markel. This Wisconsin-based insurer covers only motorcycles (and similar vehicles). It’s hard to get more specialized than that.
Like Dairyland, Markel’s specific focus allows for some extra focus on the details. For example, you can easily set your own coverage amount and see the resulting premiums based on a per-$1,000-in-value scale.
You’ll also get more specific information about what your policy covers: saddle bags (but not their contents), pegs, windshields, a trailer, your helmet, custom paint, etc. It’s great to know exactly where you stand when you need to file a claim.
These folks know motorcycles, from the handlebars to the pavement.
Here’s another nationally known insurer that more than holds its own when the rubber meets the road.
GEICO has been expanding its services and its name recognition for decades.
The company added motorcycle insurance to its stable in 1978, so it has four decades of experience partnering with bikers.
We especially like GEICO’s mature/responsible driver discount and its top ratings from both the independent rating agencies, who check on financial health and the Better Business Bureau, which gauges customer satisfaction.
We recommend State Farm mainly because of its financial stability. The nearly century-old insurer has a huge share of the insurance marketplace and top ratings from independent analysts.
It’s easy to find lay-up coverage with State Farm if you go months without riding. The company also has a niche when it comes to sidecar coverage.
Customer service can be a problem depending on your local agent, however. Overall, the Better Business Bureau has given State Farm a B+.
Before buying coverage, we recommend meeting your local State Farm agent and finding out for sure how responsive he or she would be if you filed a claim.
Yes, that’s right.
The iconic bike company also insures motorcycles through its finance arm. And from what we can tell, you’d get solid and dependable coverage.
Backed by Sentry, which gets high marks from independent ratings experts, the coverage offers the basics and some extras, including coverage for restored or custom bikes.
Sometimes third-party underwriting can slow down claims, but Harley-Davidson seems to have found a way to make the process more seamless. The Better Business Bureau gives Harley-Davidson’s customer service staff an A+.
Allstate, the well-known national insurance giant, rounds out our list of eight.
The company is large and stable and it has local agents across the country.
Like State Farm, the customer service you receive from Allstate may vary based on your local agency.
We recommend Allstate for motorcycle coverage because they offer great options for classic and custom bikes.
You can also add trailer coverage quickly and easily.
Owning a motorcycle should give you freedom, power, and more individuality, right? Reading page after page of policy details can make you forget those lofty ideals.
But that’s just the thing:
Finding the right coverage is key to enjoying the freedom and independence a motorcycle promises.
With the right coverage in place you can ride on without worrying so much about how you’d deal with the unexpected.
As you shop for coverage, remember these important questions:
Making these decisions now can pave the way for a smoother ride no matter what you discover around the next curve.
The post Buy The Best Motorcycle Insurance For You appeared first on Good Financial Cents.
