Tag Archives: Auto Insurance

When you hear the word “insurance”, strange or funny might not be the first thing that pops into your mind, yet, it can actually be a lot more intriguing than you probably imagine. Throughout history, people have invested zillions in saving their most precious assets, and insurance has even had a big chunk of impact on major decisions.

In Japan, golfers took out golf insurance just in case they got a hole-in-one, they would have to spend a fortune on sumptuous drinks and goodies, as well as throwing fancy parties for an awful lot of people (isn’t that crazy). Meanwhile, some people have purchased insurance for their body parts, and others have even taken out a policy just to watch popular movies, in case they died of laughter! (No, your eyes didn’t fool you!) Kiss bassist Gene Simmons had his tongue insured for a million bucks…while “Ugly Betty”‘ TV star America Ferrera (who plays an ugly duckling with braces on her teeth), had her smile insured for $10 million (not so ugly indeed).

While these were just a small foretaste, check out some more hard-to-believe but compelling insurance facts that will totally boggle your mind (some of which may help save a few bucks).

Insurance Has Been Around for Several Thousand Years…

Yes, you read right! It may be hard to imagine insurance sales clerks and insurance forms existed hundreds of years ago, but that certainly doesn’t mean that insurance was non-existent. In fact, it is believed that insurance made its first historical breakthrough in China around 3000 BC. Merchants who depended on shipping goods by ship were at risk of losing cargo in shipwrecks. For this reason, some of them divided their merchandise among several vessels, so that even if one of the ships was wrecked, traders would not suffer a complete loss. Modern insurance works in more or less the same way, with money being collected and pooled by insurers, ready to be paid out in the event of a claim.

Home Insurance Policies Often Prohibit Some Breeds of Dog!

Many home insurance policies often prohibit you from having certain types of dogs as pets – because they can potentially cause problems (yes, that’s sad!). Some 4.5 million people are bitten by dogs each year, and about 20% of dog bites require medical attention, according to the Centers for Disease Control and Prevention. Dog breeds typically excluded from standard insurance policies are Mastiffs, Akitas, Alaskan Malamutes, Pit Bulls, and Rottweilers. If necessary, you can pay extra to add coverage for your dog, or by going around the market, you may be able to find a policy that covers your dog.

Your Home Insurance Probably Covers Damage Caused By Volcanoes and Meteorites.

While you might know that your home insurance doesn’t protect you against flood damage, it may cover much more than you think. Home insurance policies usually cover damage caused by volcanoes and even meteors, for example. However, calamities like floods, earthquakes are not usually included. It’s best to read your policy carefully or talk to your agent to find out precisely what’s insured and what’s not, so you can decide if you want to add other coverage, such as earthquake coverage.

Credit Ratings Can Have a Significant Impact on Your Insurance Costs.

You are probably aware of the credit scores that influence the mortgage interest rates offered to you. Still, you may not realize that there are “credit-based insurance scores” that can significantly impact the insurance premiums offered to you. According to Fair Isaac, the company behind FICO scores, about 95% of all car insurers and 85% of all home insurers use these scores when they are licensed. A few states, such as California, Maryland, and Massachusetts, restrict or even prohibit their use.

Companies believe that scores that reflect how you manage your money are apt to suggest the likelihood that you will make a claim. A report by TheZebra.com found that: “Drivers with bad credit can pay twice as much for car insurance as those with exceptional credit. Nationally, improving your credit score from “poor” to “outstanding” would save you 53% (over $1,400) per year”. Fortunately, there are steps you can take to improve your credit score.  

Auto Insurance for Teenagers Can Be Astonishingly Pricey.

It’s not just the cost of education that is covered when your teenagers start driving: You’ll need to get them covered by car insurance, which can be pretty costly. A parent who adds an adolescent to their policy can expect their new rate to be $6,186, and in some cases, 227 % more than insurance for a single adult driver, and a teen who buys their own policy can be even more expensive. 16-year-old are involved in twice as many accidents as 18- and 19-year-old, therefore, adding a 16-year-old to your insurance plan can cost you up to $3,000 or $4,000 or more. (If you need this kind of insurance, look around the market, as rates can vary widely.)                                                   

Starbucks Spent More on Health Coverage for Its Employees Than It Did on Coffee!

Many Americans enjoy employer-sponsored health care – for themselves, their spouses, and their children. That’ s a no-brainer. In China, though, Starbucks has taken employer-sponsored health insurance even further by offering coverage for workers’ parents. It is limited to workers who have been with the company for at least two years and provides coverage for up to 30 critical illnesses for parents under 75 years of age who live in China. This sounds like a good idea in a country where many workers feel responsible for their parents, and it can make Starbucks a more competitive employer. It’s not unthinkable that new types of insurance will also be offered to Americans. We did not always have pet insurance, for example.

These are just a few of the surprisingly cool things to learn about the world of insurance. The more you know, the more you can save! Are you looking for a reputable insurance agent or insurance quote in Rockledge? Have Mimbs & Associates Insurance on your speed dial. Backed by years of experience, they are experts in protecting your property and your family’s belongings.

What lies in the future is a blurry picture that no one can really predict! (Unless you have “psychic visions” of the future like Raven in the TV series That’s so Raven). Just like those sudden (and unwanted) acne breakouts on our face, unexpected things can also pop up at any moment in our lives (whether we like it or not)…And suddenly, we end up in a situation where we have to struggle against the odds while frantically and hopelessly looking for an insurance plan to meet our needs.

But why wait for the worst to happen to get covered? Let’s take a look at some of the greatest perks of getting insured way before all the drama kicks off!

Powerful Guardian Angels 

Your current situation can be stable with a regular income stream adequate to support your family’s lifestyle. But have you ever wondered how your family would manage to meet their future needs when you are no more here? (especially if you are self-employed with no sick pay and death-in-service life cover)

This is where a life insurance plan comes in handy. From taking care of expenses like mortgage or college education to offering life coverage, availing of a life insurance policy will free your family from financial worries and secure their future even beyond your lifetime. (Like some sort of guardian angels sent by you from the heavens to look after your family’s well-being).

Sleep Like a Baby, Knowing Your Income Is Safe

What if you had to face a sudden medical emergency and not being able to work, or worse, deal with the unexpected death of your breadwinner? Where would you find the necessary funds to finance all of these unplanned expenses? 

Every cloud has a silver lining and so does the unpredictable and undesired events of your life. Buying insurance beforehand is always a smart strategy to secure your loan, business, house, vehicle and, most importantly, your most precious assets — your family and you! With an income protection policy, you will be able to earn a percentage of your average income on a regular monthly basis and thus maintain financial stability in your life. (and bid farewell to sleepless nights and siestas gazing at the ceiling, thinking about your debts and hefty due bills).

Protecting Your Home-Sweet-Home 

We all dream of owning our own lovely home somewhere, on a chunk of land and eventually stop paying rents one day…but investing in a property can come with a series of risks such as theft, fire, tornadoes, earthquakes, floods, (and who knows, alien attacks)! While protecting your home can be a significant financial investment, its the best way to ensure that you’re covered and your family is safe if anything happens. Buying the right homeowners’ insurance policy will make you feel at ease, knowing that your home-sweet-home is fully protected in the event of a disaster!

Your Piggy Bank Well Fed for The Future

As you strive to build a better future for you and your loved ones in this rocky economy, having permanent life insurance can be a great way to protect your savings and help you cash in. Life insurance can be a forced savings plan, which can sometimes curb your tendency to overspend (Of course, it’s nothing like living on the breadline either) …But let’s take a look at the bright side of things!

By setting aside some cash in life insurance, you can be sure that when you decide to realize your projects, the funds will be there and ready to be used. Whether you want to withdraw money in because of illness, take out tax-free loans or establish an additional source of retirement income.

Protect Your Vehicle

Do you think you would be able to afford to buy another car if someone stole yours and you couldn’t get it back? Whether your automobile has been stolen, hit by an animal, affected by natural calamities or fire, a damaged vehicle can be mentally, physically and financially devastating… And having auto coverage is essential to cover the costs of property damage or bodily injury that can occur in an accident. 

With the right car insurance, you can rest assured that your family members, passengers, other drivers and your dogs and cats are fully covered. Depending on the coverage limit, auto insurance may also cover veterinary and other medical expenses for your beloved four-legged family members!

Become Your Own Boss Without Loss!

Owning a business can sometimes be complicated and seem chaotic (more like navigating a maze) when you don’t have the proper business insurance plan to deal with ownership risks. Through the employers’ liability insurance, your business is fully protected from financial loss even if your employee suffers from a job-related injury or illness not covered by Workers’ Compensation. 

By providing accident and sickness benefits, life insurance, pensions and retirement plans to all your staff, you can be sure that the endless struggle and strife between your workers and you will be minimized! (They’ll feel happy to know that their well-being is being taken good care of and will, therefore, be more devoted to their jobs)

Ensuring 100% Peace of Mind 

What’s better than complete peace of mind? Buying insurance secures not only your assets but also protects your emotional health and that of everyone who benefits from it. Life is very uncertain and has a way of throwing undesired surprises when you least expect it.

With an insurance program in place to take care of unpredictable events, your mind can bid farewell to the stressors of the daily grind and focus more on the things that matter the most, like building your relationships and enjoying the little things in life! (And, yeah you can take those oh-so-long-awaited vacations without worrying about flight cancellations or emergency medical expenses abroad).

Better to be safe than sorry! You may not be able to stop the march of time, but buying an insurance plan can be an interesting way to reduce its ultimate effect on your wallet. Contact Mimbs & Associates Insurance and get your personalized rate. So that’s it. Lecture over! You can get back to having a good time now, having learned a thing or two about the benefits of getting insured. Meanwhile, I’ll just relax on my cozy couch. Oof!

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