FAQ
What Is Auto Insurance?
Auto insurance is a contract with an insurance company that can protect you against severe financial loss if you are ever in an auto accident. Varying types of coverage act as a “bumper” against various accident-related expenses like liability, medical costs, damage to vehicles, and property damage.
What Happens To Me If I Drive Without Auto Insurance?
If you are involved in an auto accident or stopped by a police officer and found to be driving without car insurance or proof of financial responsibility, you will be subject to penalties specific to the laws of your state. For violation of the financial responsibility law, those penalties could include a fine or loss of driving privileges. If you are uninsured and in an accident that involves property damage or injuries to people, you will be required to pay out of pocket for any damages assessed by a court.
Why Buy Renter's Insurance?
Just like homeowners, renters face risks of loss. Sure, since a renter does not own the dwelling unit, he or she does not risk losing the residence itself; however, renters risk damage to or loss of personal property. Renters can also be liable to third parties that are injured while at the residence.
If you rent, insurance acts as a risk transfer device to protect you against a catastrophic loss. In exchange for payment of a premium, you transfer the risk of property loss and liability to third parties to an insurance company.
Why Buy Life Insurance?
A few reasons to buy life insurance include:
1. Income Replacement
2. Funeral Expenses
3. Pay Off Debts
4. Pay Off Medical Bills
5. Mortgage Life Insurance
How do I know how much house I can afford ?
Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first-time buyers to purchase a home with a higher value. Give us a call, and we can help you determine exactly how much you can afford.
How do I know which type of mortgage is best for me?
There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial picture and how long you intend to keep your house. We can help you evaluate your choices and help you make the most appropriate decision.