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A Brief Guide to Condo Insurance
The ownership structure of a condominium unit is different from that of a single family house. Here’s what you need to know when purchasing insurance for your condo.¹ 1. Understand the Master PolicySince the ownership of all common areas is shared with other condo owners, the association of owners typically purchases insurance coverage (a master…
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Insurance Needs Assessment: Married With Children
A growing family, by definition, means growing financial obligations—both present and in the future. Raising children can increase your insurance needs and heightens the urgency for being properly prepared. Auto When a child becomes a new driver, one choice is to add the teenager to the parents’ policy. You may want to discuss with your…
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How Insurance Deductibles Work
An insurance deductible is the amount you, the insured, pay before any claim is paid by your insurance carrier. Depending upon the type of insurance, a policy may set the amount of deductible, or offer you the ability to select a deductible amount. Deductibles serve a dual purpose: they save the insurance company money (including…
