Gellor Insurance

Each situation is different, and this particular question lends itself to working with one of our agents to help you identify the best fit. Some important factors to consider: Your tax bracket, your need for short-term or long-term coverage, and the rate of return on alternative investments possessing smaller risk.

There are many factors at play here, each of which you should consider before purchasing a life insurance policy.   1. Income sources (and amounts) other than salary/earnings 2. Whether or not you are married and, if so, what is your spouse’s earning capacity 3. The number of individuals who are financially dependent upon you 4. The amount of death benefits payable from Social Security and from an employer- sponsored life insurance plan 5. Whether any special life insurance needs exist (e.g., mortgage repayment, education fund, estate planning need, etc.)   After considering these questions, we will help you choose an amount based on your answers.

When purchasing homeowners insurance, knowing the difference between “actual cash value” and “replacement cost” is important. The “actual cash value” the policyowner is entitled to the depreciated value of the damaged property. The “replacement cost” the policyowner is given the necessary amount to replace the property with one of similar type and quality at current prices.

Homeowners insurance covers two main sections. Section I provides coverage for the property, while Section II covers personal liability for the insured. This insurance is required by the lender to obtain a mortgage.

Collision insurance covers losses incurred from when your vehicle crashes into another car. Conversely, comprehensive insurance provides coverage for other physical damages not resulting from a collision, including theft and storm damage.

A few factors, including the type of drive you drive, your driving record, the purpose for driving your car, and where you keep your vehicle are all taken into account. Your credit score and your marital status can impact the cost as well.