By James Lunders, Agent

Every day people ask themselves, “How much homeowner’s insurance do I need?” The answer varies, depending on each person’s situation. Usually you should insure your home for its whole value, the actual building and all of its contents.
In order to find out exactly how much your home is worth, you should have it appraised. You can have an appraiser, builder or insurance agent give you an estimate on its value. However, if you ever remodel or add on to your home, its value will increase, and you will then need to purchase more coverage.
For any valuable possessions you have, you can purchase extended coverage, to ensure those items are covered as well. The best thing to do is take a room-by-room inventory of your valuables then keep this list somewhere outside the home, for example, a safe-deposit box.
To determine if valuable possessions, such as TVs, stereos or computers are covered, or if you have any other questions about homeowner’s insurance, contact your insurance agent.

Costly Misconceptions:
Most People Mistakenly Believe Long-Term Care is Covered

By James Lunders

Have you failed to get insurance for long term care in a nursing home because you think you already have coverage? If so, you’re like a lot of other people, according to a Roper survey of Americans 45 years of age and over, recently released by the American Society on Aging (ASA).
That misconception can become costly when you consider long-term care in a nursing home currently averages $56,000i a year, according to the US Government, and is expected to quadruple by 2030ii. People could easily find their assets depleted, their choices limited and their independence gone if they need long-term care but have made no plans to pay for it.
And chances are good they will need long-term care. Statistics released by the Health Insurance Association of America say that after age 65, Americans have more than a 70 percent chance of needing some form of long-term care, whether it’s an aide coming to their home, a stay in an assisted care facility or an extended stay in a nursing home.iii Younger people may also need long-term care if they’ve had a stroke, for example, or been in an accident.
“This survey confirms that Americans need to wake-up to the realities of long-term care,” said Jim Emerman, senior vice president of the ASA. “All it takes is a phone call to a financial services professional to find out the truth behind the misconceptions so many have about long-term care.”
Some of the common misconceptions uncovered in the Roper studyiv are these:
• Forty-two percent were not aware
Medicare only covers long-term care expenses for a short time, and only after someone is released from the hospital.
• Thirty percent were not aware
Medicaid coverage for long-term care is only available after someone’s financial resources are exhausted.
• Almost half (46 percent) are under the impression their health insurance will automatically cover long-term care.
It’s dangerous to assume you’re covered for long-term care. When the need for a nursing home stay or other long-term care arises, you may discover you’re not covered and have waited too long to buy insurance. Long-term care insurance is an important part of a financial plan. I urge people to speak with a financial services professional about their need for long-term care insurance now, before it’s too late to get coverage

i Estimates from: Health Care Financing Administration, Office of the Actuary, National Health Statistics Group. As presented in, “Nursing Homes.” AARP Public Policy Institute Fact Sheet. February 2001: pg. 3.
ii Can Aging Baby Boomers Avoid the Nursing Home? Long-term Care Insurance for Aging in Place.” American Council of Life Insurers. March 2000: pg. 15.
iii Lewin Group estimates based on the Brookings-ICF Long-term Care Financing Model, 1992. As cited in, “Long-term Care: Knowing the Risk, Paying the Price.” Health Insurance Association of America (HIAA). 1997: pg. 12. The level of coverage provided by long-term care insurance depends on the type of policy you purchase. Some types of care received may not be covered by long-term care insurance.
iv Study conducted by Roper ASW, August 2002.

By James Lunders

The dream of owning a business becomes a reality for thousands of people each year.
For many of these would-be captains of industry, that means starting the operation on a small scale. However, your enterprise may be in jeopardy if you don’t have business insurance.
You need business insurance because most beginning entrepreneurs don’t have the financial resources to handle adversity if it should come. Adversity can happen in many ways: fire can destroy your inventory, a power outage could cause your goods to spoil or a customer could be injured accidentally while visiting your location.
Business insurance can protect you from these hazards and others by providing many or all of the coverages listed below:
· Accidental direct physical loss coverage for business personal property,
· Broader off-premises property coverage,
· Loss of income coverage and
· Extra expense coverage.
This list above is just a sample of what’s available. You should contact your agent to see what coverages are right for your business.
Many entrepreneurs start their businesses on shoestring budgets and try to cut corners by keeping expenses at a minimum. But when you consider what you get, business insurance becomes a tool you can’t afford to work without it.

This site is being developed daily and should be up to speed by the end of February, 2008.

Thank you for visiting.

James