Category Archives: Insurance

Reduce Portfolio Risk With Asset Allocation

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Investing in the stock market can be very profitable. It can also be very risky. Some stocks soar to new heights each day while others tumble down to new lows. Using asset allocation in your portfolio will help balance the extremes. Allowing your money to grow through any market cycle.

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Basics of Asset Allocation

At its simplest, asset allocation is a diversification strategy. It divides your portfolio’s investments into different, disconnected industries. The goal is to reduce the amount of risk to your portfolio. Should any single industry suddenly lose value, the hope is that the other industries in your portfolio would not be affected and would help balance the loss. There are several basic formulas for asset allocation. To determine the right balance for you, it can be helpful to consult professional financial services firms Charlotte.

Ideal Portfolio Allocation

Your ideal portfolio allocation will change as you grow older. Since stocks are a high-risk investment, you will want to decrease the percentage of your portfolio invested in stocks as you get closer to retirement.

Valuing Reallocation

The goal of allocation is to balance the losses in your portfolio with winning investments. Over time, these investments will change in value which may cause changes to your allocation percentages. Reallocation is used to reduce your risk from being overexposed to an overvalued category. Once a year you should evaluate if your portfolio is close to your desired allocation percentages. If it isn’t, sell those assets which have appreciated in value to purchase those which have decreased in value. This will ensure that you are selling high and buying low, maximizing your profits. 

One way to protect your retirement portfolio is through proper asset allocation. You will have the opportunity to reduce your overall risk while maximizing your profit potential. It’s an investment strategy that can serve you well through both bear and bull markets.

3 Types of Insurance Your Family Needs Now

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Insurance is something that a lot of people only think about getting after something has happened. In many of these situations, it is too late to get a quality policy. It is always best to be prepared in life, and while you hope you will not need insurance, it is something you need to invest in. For families trying to figure out what type of insurance is necessary, consider these three: life, home and auto.

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1. Life

Whoever brings in income for a family needs to be covered under a life insurance policy. Unfortunately, accidents and tragedies do happen, and it is important to have this type of coverage. It can make the head of household feel much better about the security of the family if something should happen to him or her. Be sure that you talk with an insurance agent about how much life insurance Boerne TX you need — it greatly depends on the size of your family, your income and your debts.

2. Home

If you own a home, insurance with fire and flood coverage is a must. If you are a renter, it is still important that you have insurance for the contents of your house or apartment. Although there are some things that money cannot replace after an accident, you will need the extra help getting on your feet again. The price you pay is relatively low when you consider the peace of mind that it brings. 

3. Auto

Car accidents happen everywhere, every day. You need to have coverage for all vehicles and drivers in your home. Depending on the value of your vehicle, you may choose comprehensive or liability coverage. 

When you have these types of insurance, your family can feel more secure in their situation. Although you cannot always anticipate bad things happening, you can help yourself be better prepared. 

How To File an Auto Insurance Claim

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If you are in an accident or your car gets damaged by a storm, your insurance policy probably covers some of the costs associated with fixing the problem. In order to take advantage of this right, however, you must file a claim. Here are some key things to remember when you need coverage for damages.

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Review Your Policy

It’s a good idea to know what your auto policy covers. If you have basic liability, it may not cover all the repairs your car needs. If you rely heavily on your car, it may be useful to add rental reimbursement to your policy just in case your car is in the shop for two weeks and you need an affordable way to get around. Knowing your policy can help you avoid unpleasant surprises when an accident occurs.

Report the Problem in a Timely Manner

The sooner your call your insurance company, the sooner you are able to be compensated for the damage to your vehicle. An adjuster can come out and look at your vehicle to determine how much your policy will pay to fix it. It is equally important to meet any deadlines for submitting any bills or outside estimates for the damage repairs. Otherwise, your claim may be denied.

Supply Complete Information

A Palm Coast insurance company will probably provide you with a list of documents needed to support your claim. For example, the police report from the accident can help the insurer sort out which driver was at fault and should carry the burden of the repair costs. Don’t leave anything blank on the claim form. The more information you can give to support your claim, the more likely it is that it will be accepted.

Your insurance coverage is designed to protect you when you need it. If you follow these tips, you can likely get coverage for necessary repairs when you have an accident.

There Are Many Reasons to Invest in Insurance for Your Horse

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While you may have strong feelings for your horse, a horse is something more than a mere pet. He represents a financial investment and, as a living being, he’s subject to the same injuries and illnesses as any other biological entity. When a horse does become injured or ill, the costs of caring for him can affect what services you can provide and that’s just one reason insurance is so vital.

There are actually many different kinds of insurance you should carry for your horse. Health insurance is one type and it’s often necessary, unless you feel confident you can pay out of pocket for major medical treatments. Whether your horse appears in shows, competes in races, or is simply a companion for your family, he requires ample amounts of exercise. As your horse runs, jumps, and plays, the risk of a serious injury is always present. Treatment for something as minor as a sprained ankle may require medication, medical imaging, and the wrapping of the ankle. Just basic treatment can come to hundreds or thousands of dollars, depending on the severity of the injury. Horse health insurance can significantly offset those costs.

Suppose the horse suffers a more serious injury or develops a terminal illness. In that case, you stand to lose a significant financial investment in addition to a beloved family companion. Maintaining horse insurance can help you and your family get through this difficult time. It can provide you with the resources to arrange for the disposal of your horse according to your family’s burial customs. Without life insurance for your horse, you may have few options in terms of how your family can say goodbye to the horse.

Finally, liability insurance is equally necessary. When your horse does have an accident, it’s very likely that it will result in property damages. It may also result in injuries to human bystanders. Liability insurance will cover the medical care of individuals injured in the accident and help pay for any property damages that occurred. By keeping insurance up to date, you can protect your horse and your family against events that may cause injuries or illnesses.