What is the 1 or most important insurance you can buy?
Usually, disability insurance or disability income insurance is something that we do not considered when we are shopping for insurance. We buy insurance for our cars, our boats, our houses, more importantly for our toys. However, we over look the facts. One of most important facts is that when we purchase an automobile insurance, we are really buying insurance for others drive, not for ourselves. If you disable someone, your policy pays for them.
Think about about this…
- Your auto insurance coverage goes to the other guy you hurt
- Where do you homeowners insurance coverage go? to the bank
- Your life insurance goes to your heirs.
On the other hand, your disability income insurance goes to you. Why? because you still an expense to your your family
When you purchase disability income insurance, you are protecting not only ourselves, but those that depend on us. If for some reason you can’t work, this will cover part of that income that you just lost.
Take a look at the chart below, it explains the risks of losses.
|Assets||Odds of Loss|
|Vehicles Totaled||1 Out of 20|
|House Burned||1 Out of 100|
|Boat Totaled||1 Out of 15|
|Disability||1 Out of 3|
Disability Insurance Quick Facts
- 90% of workers underestimate their chances of becoming disabled
- 56% don’t realize disability is on the rise
- 85% express little concern about suffering a disability
- 64% of workers unaware of what happens to 401(k) contributions if income stops
- 57% never discussed how they would financially manage a disability
As individuals, who depend on our income to support our families and ourselves, disability insurance is something that we should take in consideration. The reason why, is because you do not know whats going to happen tomorrow.
Fill out this short contact form and one of our disability insurance specialists will contact you in less than 24 hours.
In this economy we are all trying to safe money, but sometimes it is to even save a dollar. There’s always something unexpected that comes up at the last minute. It can be just about anything, like a birthday gift for your son, oil change for you cars, gas, bills, etc. However, sometimes we do not take in consideration the appliances of the house. At any point in time, they can break down and it might cost you thousands of dollars to get them replace or even fix.
There is a solution to this problem!!!
With your homeowners policy, now every appliance in your house is covered. If your refrigerator breaks down, i’ll be fix, anything else is in your house relating to appliances can be fix. AND YOU’LL SAVE A LOT OF MONEY ON THE PROCESS.
What do you have to do?
Just visit www.floreyinsurance.com or call 1800-231-3227 for a FREE QUOTE.
Have you ever wondered: what if I lose my house in a fire? What if I get in to an accident? What If…? What if….? Have you ever had that question “what if?” What would you do if one of those “ifs” became a reality? Have you ever heard the saying, “BETTER SAVE THAN SORRY”? Well, in some circumstances its better to be prepare for the unexpected. Florey Insurance knows this.
Florey Insurance is here to provide the best customer service and coverage with the best prices to the citizens of Ackermanville, PA, Acme, PA, and Acosta, PA in order to protect your access. With all the danger one suddenly might lose everything one owns. That’s why Florey Insurance has taken the initiative to help you protect your own and have a peace of mind, when your are on the streets. With the cheapest insurance but with the best coverage that you can find, Florey insurance will help you save money but at the same time you’ll know that you are on the best hands and your assets are protected.
The Pennsylvania Motor Vehicle Financial Responsibility Law (PMVFRL) – An amendment was made to the PMVFRL on July 1, 1990 by Act 6 to attempt to reduce the high rates for car insurance and lower those driving with no auto insurance coverage. The act states that an owner of a vehicle is required to show “financial responsibility” at the time of registration”.
Financial Responsibility – the ability to respond to liability on account of accidents arising out of the maintenance or use of a motor vehicle. This basically means that you are liable, or responsible, for damage or injury to another person or their property in the event of an accident.
Pennsylvania Minimum Limits of Liability – the minimum limits of liability in Pennsylvania are: $15,000 for bodily injury to an individual in any one accident; $30,000 for bodily injury to two or more people in an accident; and $5,000 damage to property owned by another individual in an accident.
Bodily Injury Liability – pays others when you are responsible for causing injuries and includes medical and rehabilitation expenses, and noneconomic damages such as pain and suffering.
Property Damage Liability – pays others when you are responsible for damage to their property.
Limited Tort – limits your right to sue to “specific out-of-pocket” expenses. The exception is cases involving serious injury or death, in which you can sue for pain and suffering.
Full Tort – DOES NOT limit your right to sue. This means that you could potentially collect both specific damages and also noneconomic damages. “Specific damages” are damages such as medical expenses and loss of income, while “noneconomic damages” are ones such as pain and suffering.
First Party Benefits – are benefits that are payable to you. The following is a list of First Party Benefits:
- Medical Benefits: reasonable and necessary medical and rehabilitative services and are paid regardless of fault.
- Extraordinary Medical Benefits: medical and rehabilitation expenses in excess of $100,000; and is an optional coverage that can be purchased in $100,000 increments up to $1,100,000. Payments are limited to $50,000 per year during the first 18 months following an accident.
- Income Loss Benefits – pays loss of income to you if you are injured in an auto accident. This is an optional coverage and is limited to 80% of loss of gross income up to $2,500 per month and up to a maximum of $50,000. A 5 day waiting period applies to this benefit.
- Funeral Benefit: pays the funeral, burial, or cremation expenses if you die in a car crash within 24 months from the date of the accident (an example would be if you are hospitalized as a result of the crash and you die while hospitalized less than 24 months after the date of the crash).
- Accidental Death Benefit: basically the same as funeral benefit, except that if accidental death were to pay, the highest amount possible is $25,000 instead of $2,500 with the funeral benefit.
Uninsured Motorist (UM) insurance – this pays for bodily injuries caused by an uninsured motorist, or someone who does not have auto insurance. It is optional coverage that is required by law to be signed as either accepted or rejected coverage.
Underinsured Motorist (UIM) insurance – this pays for bodily injuries caused by a motorist whose insurance policy carries bodily injury limits that are too low. This, like UM, is an optional coverage and must be rejected if not desired.
Stacking – means that in the same type of accident, coverage limits would be the sum of the uninsured or underinsured motorist coverage limits for all of the autos insured under the policy. An example would be someone who insures two vehicles on a policy with UM and UIM of $100,000 for each car, then each auto would be insured to up to $200,000 in the event that UM or UIM must be used.
Comprehensive coverage – comprehensive, also known as “comp” or “other-than-collision”, means any type of loss that is not collision. Some examples include falling objects, fire, theft, and hail.
Collision Coverage – collision can basically be defined as colliding into another object with your car such as a structure, another automobile, etc.
Transportation Expense – this provides temporary transportation expense of up to $50 per day up to a maximum of $1,500 total in the event your car gets stolen or it is damaged and it is insured for collision and/or other than collision.
Loan/Lease Payoff Coverage – this pays the difference between what you owe on the vehicle and what the insurance pays if your car is determined to be a total loss (or commonly considered “totaled”) or is stolen and not recovered, after the comprehensive or collision deductible is applied. You need both comp and collision on your policy before Loan/Lease Payoff Coverage can be added.
Repair Replacement Collision Coverage – applies to vehicles under a certain number of years old, usually 5, from the year of the current policy. In the event of a collision of an auto carrying this coverage, the company will pay for either reasonable repair costs with part that are of like kind and quality, or the cost of a new car; whichever one is less expensive. Like most other coverage options, there is a deductible for this coverage (usually $500).