Are there different types of policies?

March 6, 2021

Yes. A person who owns his or her home would have a different policy from someone who rents. Policies also differ on the amount of insurance coverage provided.

The different types of homeowners policies are fairly standard throughout the country. However, individual states and companies may offer policies that are slightly different or go by other names such as “standard” or “deluxe”. The one exception is the state of Texas, where policies vary somewhat from policies in other states. The Texas Insurance Department has detailed information on its various homeowners policies.

The chart below lists the disasters covered in each of the following types of policies:

If you own your home

If you own the home you live in, you have several policies to choose from. The most popular policy is the HO-3, which provides the broadest coverage. Owners of multi-family homes generally purchase an HO-3 with an endorsement to cover the risks associated with having renters live in their homes.

HO-1: Limited coverage policy This “bare bones” policy covers you against the first 10 disasters. It’s no longer available in most states.
HO-2: Basic policy A basic policy provides protection against all 16 disasters. There is a version of HO-2 designed for mobile homes.
HO-3: The most popular policy This “special” policy protects your home from all perils except those specifically excluded. (Click on the link below for a sample HO-3 form; you will need Acrobat which you can download, free of charge, from the Adobe website.
HO-8: Older home Designed for older homes, this policy usually reimburses you for damage on an actual cash value basis which means replacement cost less depreciation. Full replacement cost policies may not be available for some older homes.

If you rent your home

HO4-Renter Created specifically for those who rent the home they live in, this policy protects your possessions and any parts of the apartment that you own, such as new kitchen cabinets you install, against all 16 disasters.
If you own a co-op or a condo

H0-6: condo/co-op A policy for those who own a condo or co-op, it provides coverage for your belongings and the structural parts of the building that you own. It protects you against all 16 disasters.

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Your level of coverage

Regardless of whether you are an owner or renter, you have the following three options:

Actual cash value. This type of policy pays to replace your home or possessions minus a deduction for depreciation.
Replacement cost. The policy pays the cost of rebuilding/repairing your home or replacing your possessions without a deduction for depreciation.
Guaranteed or extended replacement cost. This policy offers the highest level of protection. A guaranteed replacement cost policy pays whatever it costs to rebuild your home as it was before the fire or other disaster–even if it exceeds the policy limit. This gives you protection against sudden increases in construction costs due to a shortage of building materials after a widespread disaster or other unexpected situations. It generally won’t cover the cost of upgrading the house to comply with current building codes. You can, however, get an endorsement (or an addition to) your policy called Ordinance or Law to help pay for these additional costs. A guaranteed replacement cost policy may not be available if you own an older home.

Some insurance companies offer an extended, rather than a guaranteed replacement cost policy. An extended policy pays a certain percentage over the limit to rebuild your home. Generally, it is 20 to 25 percent more than the limit of the policy. For example, if you took out a policy for $100,000, you could get up to an extra $20,000 or $25,000 of coverage.

Even though a guaranteed/extended replacement cost policy may be a bit more expensive, it offers the best financial protection against disasters for your home. These coverages, however, may not be available in all states or from all companies.

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6 Rookie Mistakes People Make When Pursuing SSDI

If you’re unable to work due to a disability of any kind, then you might make the decision to apply for SSDI. This is a disability insurance benefit that is offered through the Social Security Administration. Although it can be tricky to obtain the benefits that are available, it’s not impossible. During the application process, there are a few mistakes that you want to avoid if you want to improve the likelihood that your application will be approved. Not Understanding the Process A common mistake that you might make during the SSDI process is entering it without knowing anything about what could happen or why. This process is about more than just completing an application and turning it to an agent or an attorney. You can call SinkLaw for a free review if you need more in-depth information about the process. An attorney can help you get a better understanding of what to expect during the initial interview process and what to expect as you enter through the other stages of determining your eligibility. They can also make recommendations that will increase your chances of success. To qualify for SSDI, you can’t make more than a certain amount of money each month or be employed over a certain number of hours. Your medical condition should be one that prevents you from working or that prevents you from engaging in basic activities of daily life. The SSA requires that you meet at least the first two of its criteria in order for you to be deemed eligible for SSDI. Navigating the Process Alone Avoid trying to go through the process by yourself. This is a time when you want to have an attorney on your side who understands SSDI and how to approach your case. If you try to go through the process alone, then you could leave out important details that could result in being denied the benefits that you deserve. Downplaying Your Disability Don’t try to play the hero and fight your disability. Your disability may be limiting you more than you let on because you want to appear strong in front of your friends and family. When you have a hearing to talk about your disability, you should explain how you feel and some of the limitations that your disability puts on your daily life. Even if you do chores at home, you should explain the simplicity of them so that the court doesn’t think that you’re able to do a lot of strenuous work. You’ll also want to explain which chores you are no longer able to do and any costs involved in hiring others to do them for you. Exaggerating Your Disability Just as you don’t want to try to downplay your disability, you also don’t want to exaggerate your disability. Some of the ways that you could do this include: Using medical equipment that is not needed in court Crying or making statements that are over the top Taking a folder of documents that aren’t really necessary to court If you act like your disability is worse than it is, this information may be uncovered by investigators. When this happens, you will lose all credibility and it will harm or even cost you your case. Not Having a Work History You need to have a work history in order to qualify for some type of SSDI. You should be able to talk about the limitations that your disability has on working or what they have had in the past on working. Even if you’re able to work part-time, you need to mention these details to the court. Your disability might allow you to work a few hours a week but not in the way that you want due to not being able to stand or sit for long periods of time. Not Understanding the Appeals Process If you lose your initial hearing, you can appeal. However, you shouldn’t miss this date. If you do, then you will likely not receive SSDI as it could make it look as though you don’t care about receiving the benefits that you need. Many people are denied benefits the first time they apply, so if you’re denied don’t give up hope. Consider reaching out to a lawyer for assistance with the appeals process.
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Dr. Andrea Natale’s AFib Work

Last year, Dr. Andrea Natale became one of the first cardiologists to implant a device to reduce strokes in patients with non-ventricular atrial fibrillation. The implant surgery marks the most recent in a series of medical contributions by the world-renowned Dr. Natale to save lives and advance scientific knowledge of AFib. Dr. Andrea Natale implanted a WATCHMAN FLXTM Left Atrial Appendage Closure device in August 2020. The device cuts off blood flow to an area of the heart known as the left atrial appendage, which prevents blood clots from forming in the LAA. The device can make blood thinners unnecessary for patients suffering from AFib. What is AFib? AFib refers to a type of irregular heartbeat. A healthy heart beats between 40 and 100 beats per minute. AFib causes the heart to quiver, beating 300 to 600 beats per minute. If untreated, AFib can damage organs, including the brain, or cause strokes. Patients with AFib are five to six times more likely to experience a stroke than members of the general population. Dr. Andrea Natale’s AFib Work Dr. Andrea Natale is an expert in Cardiac Electrophysiology, a field that studies and treats electrical abnormalities of the human heart, such as AFib.. In addition to being one of the first to implant the Left Atrial Appendage Closure device, he performed the first percutaneous epicardial radiofrequency ablations in the U.S. for patients who aren’t helped by conventional ablations. A cardiac ablation creates scars in the heart to block abnormal electrical signals and restore a normal heartbeat. Dr. Andrea Natale also has developed several catheter-based treatments for rhythm disorders and holds several patents. Currently involved in several trials, his research interests include Clinical Cardiac Electrophysiology, defibrillation mechanisms, the effects of thrombosis on platelet aggregation, signal-averaging, TxA2 metabolites production in patients with unstable angina and post-myocardial infarction, and ablation treatment of supraventricular arrhythmias. In addition to being a much sought-after speaker, he has published more than 100 articles in professional journals, and edits the Journal of Investigational Cardiac Electrophysiology. His research has been featured more than 500 times, and academics and researchers have cited his research more than 10,000 times. Editorial Boards Dr. Andrea Natale serves as a reviewer or member of the editorial boards of several prestigious medical journals, including the following: The American Heart Journal The New England Journal of Medicine The American Journal of Cardiology Journal of the American Heart Association The British Medical Journal The International Heart Journal The International Journal of Cardiology. Publications on which he serves on editorial boards include: World Journal of Cardiology The Journal of the American College of Cardiology, The Journal of Innovations in Cardiac Rhythm Management, The Journal of Interventional Electrophysiology The Arrhythmia & Electrophysiology Review Dr. Natale’s Career Dr. Natale graduated with honors in 1985 from Universita’ degli Studi di Firenze, School of Medicine and Surgery in Florence. After that, he studied cardiology at the Catholic University School of Cardiology in Rome. His first career post was as head of the physiopathology section of the Italian Air Force’s Department of Medicine. He then relocated to the United States where he completed a research fellowship at Baylor College’s Methodist Hospital, followed by residencies at the University of Wisconsin and Western Ontario University in Canada. After completing residencies, he served on the faculty at Duke University, becoming the director of electrophysiology and section head of the Department of Cardiac Pacing and Electrophysiology. Next, he accepted the position of medical director at Cleveland Clinic’s Center for Atrial Fibrillation, before being named to the Taskforce for Atrial Fibrillation created by the U.S. Food and Drug Administration. Dr. Natale also served as director of the Arrhythmia Center at California Pacific Medical Center in San Francisco, as well as the executive director of the Al Sabah Arrhythmia Institute at St. Luke’s Roosevelt Medical Center in New York. In 2008, he moved to the Texas Cardiac Arrhythmia Institute (TCAI) in Austin, Texas, where he currently practices medicine. While at TCAI, he has simultaneously served at other universities and institutions, including Stanford, Western Reserve University, and the Los Robles Regional Medical Center in Thousand Oaks, where he inserted the Left Atrial Appendage Closure device. Dr. Natale’s Honors Dr. Natale has received many prestigious medical honors, including: Top Doc in Cleveland and Austin Best Doc in Northern Ohio Best Doc in the United States Fellow of the European Society of Cardiology Fellow of the American College of Cardiology Fellow of the Heart Rhythm Society
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Auto insurance basics—understanding your coverage

The basic personal auto insurance mandated by most U.S. states provides some financial protection if you or another driver using your car causes an accident that damages someone else’s car or property, injures someone or both. But to make the best decisions about purchasing other types of auto insurance coverage you might need, you’ll want to understand what’s covered, what’s not covered and what’s optional. In addition to understanding types of coverage, you’ll also want to consider coverage amounts. Why? Because state-required minimums may not cover the costs of a serious accident, so it’s worth considering purchasing higher levels of coverage. Here’s a rundown of the types of coverage available—some are required; others are optional; all are priced individually (a la carte) to let you customize coverage amounts to suit your exact needs and budget. Mandatory coverage Nearly every state requires car owners to carry the following auto liability coverage: Bodily Injury Liability — This covers costs associated with injuries and death that you or another driver causes while driving your car. Property Damage Liability — This coverage will reimburse others for damage that you or another driver operating your car causes to another vehicle or other property, such as a fence, building or utility pole. Frequently required coverage Many states require that you carry the following coverage: Medical Payments or Personal Injury Protection (PIP) — Provides reimbursement for medical expenses for injuries to you or your passengers. It will also cover lost wages and other related expenses. Uninsured Motorist Coverage — Reimburses you when an accident is caused by an uninsured motorist—or in the case of a hit-and-run. You can also purchase under insured motorist coverage, which will cover costs when another driver lacks adequate coverage to pay the costs of a serious accident. Even if these types of coverage are optional in your state, consider adding them to your policy for greater financial protection. Optional coverage While basic, legally mandated auto insurance covers the cost of damages to other vehicles that you cause while driving, it does not cover damage to your own car. To cover this, you need to purchase the following optional auto insurance coverages: Collision — This optional coverage reimburses you for damage to your car that occurs as a result of a collision with another vehicle or other object—e.g., a tree or guardrail—when you’re at fault. While collision coverage will not reimburse you for mechanical failure or normal wear-and-tear on your car, it will cover damage from potholes or from rolling your car. Comprehensive — This provides coverage against theft and damage caused by an incident other than a collision, such as fire, flood, vandalism, hail, falling rocks or trees and other hazards—even getting hit by an asteroid! Glass Coverage — Windshield damage is common, and some auto policies include no-deductible glass coverage, which also includes side windows, rear windows and glass sunroofs. Or you can buy supplemental glass coverage. Mind the gap… insurance If you lease or finance your vehicle, auto dealers or lenders will likely require you to purchase collision and comprehensive. But keep in mind that collision and comprehensive only cover the market value of your car, not what you paid for it—and new cars depreciate quickly. If your car is totaled or stolen, there may be a “gap” between what you owe on the vehicle and your insurance coverage. To cover this, you may want to look into purchasing gap insurance to pay the difference. (Note: For leased vehicles, gap coverage is usually rolled into your lease payments.) Who is covered—and when? Your auto policy will cover you and other family members on your policy, whether driving your insured car or someone else’s car with permission. Your policy also provides coverage if someone not on your policy is driving your car with your consent. Your personal auto policy only covers personal driving, whether you’re commuting to work, running errands or taking a trip. Your personal auto policy, however, will not provide coverage if you use your car for commercial purposes—for instance, if you deliver pizzas or operate a delivery service. Note, too, that personal auto insurance will generally not provide coverage if you use your car to provide transportation to others through a ride-sharing service such as Uber or Lyft. Some auto insurers, however, are now offering supplemental insurance products (at additional cost) that extend coverage for vehicle owners providing ride-sharing services.
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List 10 Tips to Achieve Financial Freedom

Financial freedom is handling all your bills savings and having cash to run all your needs. This is a goal every person should achieve. There are various steps that one can follow to reach financial freedom, as discussed in this article: Set your own goals. To begin with, one needs to have a life-challenging goal if they want to achieve financial freedom. You need to know how much you need for investment, bank savings, the stocks market, and consider the salary you get. In addition, one should also consider having more realistic and specific goals to achieve this plan. Setting goals is another important aspect of achieving financial freedom. Setting goals gives you direction and focus. Without goals, we tend to drift aimlessly. Get rid of debt. This may sound simple, but it’s not easy at all. One needs to be disciplined enough to pay off his debts on time and without fail. It’s important to understand that paying off your debts will give you peace of mind and confidence. Set up a budget. Budgeting is very important when trying to achieve financial freedom. A budget helps you set aside money from each paycheck to cover expenses like rent, food, utilities, etc. If you don’t have a budget, you will spend more than what you earn, which will make you fall into debt again. Make sure you stick to the budget. Invest wisely. Investing is an essential part of achieving financial freedom. However, investing is not something that you can do overnight. It would help if you started small by saving $100 per month. Once you have saved some money, you can invest it in mutual funds. The best way to learn about investments is through online resources. Start saving early. Start saving now! Saving money is the first step towards achieving financial freedom. When you save money, you build a strong foundation for future growth. As soon as you start saving, you will feel good about yourself and your finances. Make extra money. This tip is especially useful if you are starting. There are many ways to make extra money: babysitting, tutoring, dog walking, selling items online, taking surveys, writing articles, home-based business, freelance work, etc. Get Financial Advice It would help if you also considered acquiring financial guidance from experts. This enlightens you on how to spend money and how to make more. For instance, consider consulting Financial Mappers Australia for advice. Be patient. Patience is one of the most important traits required to achieve financial freedom. Patience allows us to accept things as they are instead of wanting them to be different. Have financial discipline Learn how to live within your means. Learn how to live within your income. This is one of the main reasons why people get into debt. Have fun with your money. Money should bring happiness, joy, and satisfaction. If you don’t enjoy spending your money, you won’t spend it well. In other words, you must love what you’re doing. *** Eric Reyes is a passionate thought leader having been featured in 50 distinguished online and offline platforms. His passion and knowledge in Finance and Business made him a sought-after contributor providing valuable insights to his readers. You can find him reading a book and discussing current events in his spare time.
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Celebrities betting big in online casinos

Online casinos and casino games have become very popular, and even celebrities have caught on to this popular pastime. In fact, some celebrities have invested a lot of time and money in online gambling. Unlike us mere mortals, celebrities usually have the financial means to bet really large amounts on their gambling. Join us on an entertaining journey that takes a closer look at some of Hollywood’s most casino-savvy and notorious stars. If you want to try playing a game or two just like the stars, check out this list of new online casinos on CasinoTop3, and who knows, you might get lucky! Charlie Sheen Charlie Sheen is one of Hollywood’s black sheep and has lived an intense celebrity life filled with money, scandals, and casino gambling. In fact, according to ex-wife Denise Richards, Sheen periodically lived an extreme lifestyle that included extensive gambling addiction. Sheen is said to have spent as much as $200,000 in a single week at online casinos and brick-and-mortar gambling halls during his worst phases. Online, it is primarily poker and sports betting that has captured his interest. Sheen is said to have calmed down in recent years but could have avoided many problems and serious mistakes by seeking help earlier. Brad Pitt Movie star Brad Pitt is another celebrity who has a hot relationship with the casino world. His passion for gambling is said to have been brought to life during the filming of the now-iconic casino movie Ocean’s 11. The film is about a criminal gang of 11 people who try to break into a well-guarded underground vault containing $160 million in Las Vegas. Alongside Brad Bad, Ocean’s 11 stars big names, like Julia Roberts, George Clooney, and Andy Garcia. Brad Pitt also visits physical casinos in his personal life but also enjoys gambling in online casinos. His favorite games are said to be strategic high-stakes games like blackjack and poker. Matt Damon Matt Damon is among the Hollywood stars most closely associated with the gambling world. Damon loves blackjack and poker and is said to have become so skilled that he can now compete with professional players. His interest in casinos was sparked during the filming of the classic movie Rounders. Damon plays convincingly in the lead role of Mike McDermott, a law student poker star who interrupts his studies and confronts the Russian mafia in a risky game to try to win lots of money so he can help his friend pay off his huge debts. Paris Hilton Since the casino is associated with money and glamour, it probably comes as no surprise that diva Paris Hilton is a dedicated casino player who plays both online and in gambling halls. Her passion for gambling is mainly focused on the strategic table games of poker and blackjack. The blonde Paris is said to be quite skilled and is said to have won around $30,000 during a casino visit to the gambling city of Las Vegas, among other things. As part of the Hilton empire, Paris Hilton has lived a fashionable yet controversial life. She has tried her hand at being a pop singer and being sentenced to 45 days in jail for driving without a license in Los Angeles. Ben Affleck Like Charlie Sheen, Ben Affleck has had a controversial relationship with the casino world. The movie star loves poker and blackjack and is said to have gotten into trouble several times and lost really big money. It is said to have been so serious at times that Affleck checked into a rehabilitation clinic to try and combat his gambling addiction. Rumors in Hollywood include that Affleck once lost a staggering $400,000 playing poker, but this is something the film star firmly denies. One thing is for sure, Affleck is among the most notorious celebrities when it comes to online casinos and physical gambling halls. Jennifer Tilly Jennifer Tilly is one of the celebrity world’s top casino players and is actually considered a professional poker player. Tilly has played with great success both online and in brick-and-mortar casinos. She is said to have won millions of dollars in big prizes and has participated in the hottest poker tournaments in Las Vegas. In addition to poker, Tilly also plays slot machines and is particularly fond of playing various slots in online casinos.
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Are there different types of policies?

If you own your home

If you rent your home

Your level of coverage

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