By Dez Duran-Lamanilao
Insurance companies have the right to declare a vehicle as total loss. This is the time when they determine that it is no longer practical to complete repairs; and that the actual cash value (ACV) is already lower than the cost to repair the vehicle. When this happens, unfortunately for the owner, the […]
Purchasing a policy usually involves collecting quotes from preferred insurers, choosing an insurance agent, and asking the right questions before finally making a decision. The process is usually a smooth one and may only result to delays if either one of the parties is not satisfied with the current terms.
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However, not everything always […]
By Dez Duran-Lamanilao
After the devastating effects of Hurricane Harvey, car owners who do not have a comprehensive coverage in their auto insurance policies have an additional burden to deal with. They are probably faced with the dilemma of bringing the car for repair and face the risks associated with such catastrophe, or purchasing a new […]
By Dez Duran-Lamanilao
Anyone can fall victim to insurance fraud. In fact, estimates suggest that it may be the second biggest economic crime in the US. Fraud can cause serious financial implications on consumers, the government and businesses. The National Heritage Insurance Company underwent one of the biggest insurance failures after New Yorker Rabbi Sholam Weiss […]
By Dez Duran-Lamanilao
The Federal Bureau of Investigation (FBI) reported that motor vehicle theft in the US increased by 3.1% from 2014 to 2015. In fact, a motor vehicle was stolen every 45 seconds in 2015. Whether your reason for buying a car is by necessity or luxury, it is every car owner’s responsibility to avoid […]
By Dez Duran-Lamanilao
If you answer yes to the question, there may be a need to reconsider your decision. According to a 2014 study by the Insurance Research Council (IRC), the percentage of motorists who are driving without insurance have been declining in recent years. In fact, from 1992 to 2012, it has decreased from 15.6% […]
By Dez Duran-Lamanilao
The Federal Housing Administration (FHA) loans allow prospective homeowners to purchase homes with low costs and down payments at easy credit-qualifying criteria. Those aged 62 years or older and live in their homes may be qualified for the FHA Reverse Mortgage, which allows homeowners to convert a portion of their equity into cash.
Here […]
By Dez Duran-Lamanilao
It is human nature to undergo different stages in terms of physical, emotional, mental and even financial aspects of one’s life. And as your outlook and expectations change, so do your insurance needs. When you decide to marry, there are considerations that you must keep in mind to keep your future and those […]
Most financial institutions require borrowers to pay for private mortgage insurance (PMI) if their down payment on a house they intend to purchase is less than 20%. PMI is a protection lenders seek to avoid losing money in case a home loan results to a foreclosure. After years of payment and the loan-to-value (LTV) ratio […]
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Recreational Vehicles (RVs) are motorized vehicles or trailers used for camping or other recreational activities. What makes them different from regular vehicles is the presence of a living space that is usually found in homes. Mobile homes, off-road vehicles, snowmobiles or conversion vehicles are not considered as RVs. The Recreational Vehicle Industry Association […]
