How much coverage do you need?

Liability Coverage Limits:
No one can predict exactly how much you would have to pay if you were to cause an accident. Ask yourself how you would pay for any damages exceeding your coverage limits. The higher your limits are, the more likely your policy will be able to pay all of the damages.

Bodily Injury liability
How much coverage you need is a function of the assets you'd like to protect. If you make $30k a year and don't own a home, $50k/$100k should be sufficient. However If you make more than $75k, own a house valued at more than $150k, and have $40k in mutual funds you should consider coverage limits of at least $100k/$300k

How much you'll pay to increase your bodily injury liability coverage depends on several factors, including your age, marital status and driving record. It also depends on where you live. For example, In New York City, where the frequency of bodily injury is higher than in most cities, this coverage would cost significantly more than if you lived in Rochester, NY.

Personal Damage Liability
This coverage will pay for the repair and replacement of the other guy's car or property in the event of an accident. State-required minimums are as low as $5,000, but if you total somebody's Lexus, that won't begin to cover the damage.

You're better off with a minimum of $50,000 for each vehicle you own. And to be truly safe, you should have a total of $100,000 coverage.

Personal Injury Protection
This is definitely one coverage you can skimp on. PIP coverage pays for the medical and funeral costs associated with an accident for you and your family ? regardless of whose fault it was. But if you a lready have separate health, life and disability policies, you can probably forgo this one altogether. Check those policies first, but chances are those sort of expenses are covered under another policy you already own.

Uninsured or Underinsured Motorist
This coverage pays for medical and funeral costs for you and your family in the event you get in an accident with either a hit-and-run driver or a driver who doesn't have enough auto insurance. These policies usually cover bike and pedestrian accidents, too. Given the prevalence of uninsured drivers nationally, this coverage is essential. On average, it costs less than $40 a year for $100,000 worth and will make up for anything your medical insurance doesn't cover.

Collision & Comprehensive deductibles
Higher deductibles lower your premium but increase your out of pocket expense if a loss occurs.

Collision reimburses you for the full cost of repairs or replacement of your car after an accident. Comprehensive covers you in the event your car falls victim to a natural disaster, vandalism or theft. With either coverage, the lower the deductible you choose, the more the policy will cost you. We recommend that you always choose the highest deductible you can afford ($1,000 is fine). After all, the purpose of insurance is to protect you against big losses, not to make you whole to the last dollar. If you have an older car, you might drop this coverage altogether.

Collision and comprehensive ? which can account for 30% to 40% of your t otal premium ? are cash-value coverages. Which means if your car i s damaged, the most you'll recoup is the Kelley Blue Book value, which declines rapidly as your car ages. Here's a good rule of thumb: If the cost of your collision and comprehensive is more than 10% of your car's Blue Book value, it probably makes sense to drop these coverages all together and save a tidy sum. With most cars, you should approach this limit as the car turns five years old. Understand, however, that if you eliminate the coverages, you'll have to foot the bill if you get in an accident that's your fault, or if the car is totaled or stolen.

You may be required to carry collision or comprehensive coverage if your vehicle is leased or financed. If not, you might consider dropping this coverage and pocketing the savings on premiums. As your car's value decreases

Tips on Saving money on your auto insurance?
Explore auto insurance discounts
Safe Driver Discounts
Without the extra cost of auto repairs and speeding tickets, it?s should be no surprise that good drivers save money on their auto insurance right off the bat. Many states reward safe drivers with deep discounts.

Specialized Occupation Discount
If you or your husband or wife is employed as an engineer, educator, or a scientist, you may be eligible for an auto insurance discount simply based on his or her profession.

Car Alarms
Not only will investing in a car alarm protect your vehicle from theft and give you piece of mind, it may save you money on your auto insurance. Other anti-theft devices, like certified car tracking systems may also earn you an auto insurance discount

Safety Equipment
If you're in the market for a new car, get one that has the latest in safety equipment. Your vehicle's safety equipment could save you money on your auto insurance, but more importantly, it could save your life.

Good Students
Young drivers are generally inexperienced behind the wheel and are known for being high-risk by auto insurers, which helps to explain why auto insurance premiums are so high for this age group. Doing well in school may save you or your young driver some money on auto insurance. Good students in certain age groups may qualify for an auto insurance discount.

Make your auto insurance dollar Work for you
To get the most value out of the money you spend on auto insurance, it may be a good idea to choose the highest liability and deductible levels you can comfortably afford. Why? Remember, you buy auto insurance to help you if something bad happens. Higher limits mean that there?s more financial help available to you if you get into an accident. That?s why higher limits are generally better than the minimum required in many states.

Unsure how to pay for higher limits? Higher deductibles help you save money on your regular auto insurance premium. When you choose a deductible, think about which you'd prefer -- paying more now or paying more later if you ever need to file an auto insurance claim. A higher deductible will lower your auto insurance premium, but you'll have to pay that higher amount if you have to file a claim. When you select a lower deductible, it?s just the opposite.

Drive safely
Safe driving is one of the best ways to keep your auto insurance rates low. (Even more important, it helps to save lives!) Speeding tickets and fender benders only increase your auto insurance costs. Drivers with good driving records often benefit from safe driving discounts as well.

Pay your bills on time
Auto insurance companies use several pieces of information to assess the potential risk a driver represents. One important rating factor, applicable in some states, is the credit-based insurance score. Insurance industry statisticians and actuaries have found that folks who pay their bills on time are generally better drivers (or are otherwise more responsible). When auto insurance companies think you?re a better risk to insure, you will generally get a better rate.

Shop around
Under rare circumstance loyalty doesn?t pay. Maintaining auto insurance for your family is one of those situations. You may be paying more than you need to by staying with the same auto insurance company! Every 6 months, you should compare auto insurance rates with several auto insurance companies to find the best deal. You may be surprised at how much you save when you shop around.

Most people don?t know that they can change and cancel their policies at any time. You don?t have to wait until your policy expires or renews to take advantage of a better auto insurance rate that might be available. However, because you never want to have a gap in your auto insurance coverage, it?s better to sign up for new coverage and then cancel your existing policy.

Safe Internet Banking

Tips for Safe Banking Over the Internet
As use of the Internet continues to expand, more banks and thrifts are using the Web to offer products and services or otherwise enhance communications with consumers.
The Internet offers the potential for safe, convenient new ways to shop for financial services and conduct banking business, any day, any time. However, safe banking online involves making good choices – decisions that will help you avoid costly surprises or even scams.
This brochure offers information and tips to help you if you are thinking about or already using online banking systems. We will tell you how to:
Confirm that an online bank is legitimate and that your deposits are insured
Keep your personal information private and secure
Understand your rights as a consumer
Learn where to go for more assistance from banking regulators So, before you click there, read here.-->
Confirm that an Online Bank Is Legitimate and that Your Deposits Are Insured
Whether you are selecting a traditional bank or an online bank that has no physical offices, it’s wise to make sure that it is legitimate and that your deposits are federally insured. Here are tips specifically designed for consumers considering banking over the Internet.
Read key information about the bank posted on its Web site.
Most bank Web sites have an "About Us" section or something similar that describes the institution. You may find a brief history of the bank, the official name and address of the bank’s headquarters, and information about its insurance coverage from the FDIC.
Protect yourself from fraudulent Web sites.For example, watch out for copycat Web sites that deliberately use a name or Web address very similar to, but not the same as, that of a real financial institution. The intent is to lure you into clicking onto their Web site and giving your personal information, such as your account number and password. Always check to see that you have typed the correct Web site address for your bank before conducting a transaction.

Think about your Survivors

When buying a life insurance policy there are many things to take into consideration. With that being said, there is nothing more important than the needs of your survivors. For most people this includes their spouse, as well as any children that they may have. It is important to keep these people in mind because they are the ones that will need the financial support if you happen to pass away.
There is no hard and fast rule as to how much money you should leave your survivors through your life insurance policy. Some experts think that you should have a policy of at least five times your annual salary, but this is not a rule that necessarily has to be followed.
As a general rule of thumb you should assess your situation closely before buying a life insurance policy. This will allow you to get a good idea as to how much your survivors would need if something bad were to happen to you.
Not only should you consider how much money your survivors will need per year when you die, but you will also want to factor in money that they can invest. This way they will be able to draw from your life insurance policy for a longer period of time.
Life insurance is not fun to buy, but it is something that everybody has to consider. Your life insurance policy is what will take care of your survivors if you pass on. Make sure that before you buy that you look into what type of life insurance is available, as well as how much coverage you need to buy. Instead of listening to industry standards or general information look into your own personal situation. This will allow you to buy the life insurance policy that will work best for your survivors.