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about my tips or tricks, do ask, and do feel free to send me a DM.
I have no family except the daughter who is dying. No close friends. I am not able to leave long enough to network locally. Currently my best resourse is the 24/7 nurse, I actually have many nice friends on the forums -- which I cherish.
I think living in an empty house will be far worse that expending the money and energy to give my spouse the best quality of life that I can. I don't see it in a nursing home or hospice setting at this point in time and the doctor agrees. Every day that we wake up together is a good day despite the crises that occur all too often.
Both your spouse and your daughter are dying? I am so really, really, terribly sorry.
Would like to know about saving on car and house insurance (for seniors), any tips?
Also do you ahve to pay more house insurance if you have a housemate?
Not sure about paying more in homeowners insurance if you have a housemate. But I would certainly ask for a renters insurance policy from them to cover your things and home in case of accident. We put both home and auto with the same company and save a little money. Our classic VW only costs us $100 a year while on classic insurance. Some states charge you more for them if you drive them all the time, but we only take it to the store now and then and to a show. They can be very economical to own.
Would like to know about saving on car and house insurance (for seniors), any tips?
Also do you ahve to pay more house insurance if you have a housemate?
If you have your vehicle and house with the same insurance company - make sure you're getting a discount. Mine is 10% on each policy. AAA and AARP (I believe) offer 1 day defensive driving classes that, after completion, can get you a discount. Also, my truck insurance is less because I drive less than 10,000 miles a year.
As for roommates, just make sure you're covered for liability. I've rented out a bedroom in the past several times (not currently), and I've always strongly suggested that they get renters insurance for their personal property.
The last time I rented a room was to a teacher at my college who was going thru some tough personal events a few years ago. I did not include utilities in the rent (I charged her half of the electricity and gas, 1/3 of the water since I had landscaping. She had her own phone) But I did offer her a lowered rent if she cleaned the floors once a week. She loved the lower cost, and I got rid of my most hated job!
Last edited by Gandalara; 03-30-2010 at 11:22 AM..
Reason: Spelling. Sigh.
If you have your vehicle and house with the same insurance company - make sure you're getting a discount. Mine is 10% on each policy. AAA and AARP (I believe) offer 1 day defensive driving classes that, after completion, can get you a discount. Also, my truck insurance is less because I drive less than 10,000 miles a year.
As for roommates, just make sure you're covered for liability. I've rented out a bedroom in the past several times (not currently), and I've always strongly suggested that they get renters insurance for their personal property.
The last time I rented a room was to a teacher at my college who was going thru some tough personal events a few years ago. I did not include utilities in the rent (I charged her half of the electricity and gas, 1/3 of the water since I had landscaping. She had her own phone) But I did offer her a lowered rent if she cleaned the floors once a week. She loved the lower cost, and I got rid of my most hated job!
Thanks for the info~~
I was just browsing in B & N online and saw a number of books by a guy named Stephen Pollan -- for boomers (and others) going through life changes and challenges. He's a life coach and lawyer, and also into how to deal with catastrophic and adverse circumstnaces. Has anyone read his stuff and is it good? (no dissing, just want to know if the books are worth reading! I'll check them out at the BN store).
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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If you get into a situation with housemates, I would be sure to have a very specific contract with some indemnity for liability. I would reduce risks to your assets through the use of an umbrella liability policy (if you don't already have one).
I have heard AARP has good auto rates. I got a big break on my MH / Van from GMAC, as I have a mortgage from them. If you have multiple insurance companies, + an
Umbrella, there can be a minimum liability coverage from your primary insurer to 'bridge' you to the umbrella amount. (i.e. I need to carry $100k / $300k minimum liability on basic policies, to bridge to a $3m Umbrella)
If you get into a situation with housemates, I would be sure to have a very specific contract with some indemnity for liability. I would reduce risks to your assets through the use of an umbrella liability policy (if you don't already have one).
I have heard AARP has good auto rates. I got a big break on my MH / Van from GMAC, as I have a mortgage from them. If you have multiple insurance companies, + an
Umbrella, there can be a minimum liability coverage from your primary insurer to 'bridge' you to the umbrella amount. (i.e. I need to carry $100k / $300k minimum liability on basic policies, to bridge to a $3m Umbrella)
I have both auto & home through AARP which is Hartford. Saved a bunch plus they give an additional discount the longer you go without an accident.
Stealth - didn't you have a showing on your property today? If so, how'd it go?
These days houses are insured at the replacevent value. My house and car through County Mutual save me about $600 a year pver SF. They are affiliated with the County Farm Bureau. Make sure you like the agent, bucause you cannot change agents.
I agree the it is best to have auto and home with the same company. In addition, I believe you can get better rates if you go directly to the company and avoid an agent. Today, we have the internet, email, telephone, fax etc. We can handle our own transmissions to the company. We do not need agents anymore. Most of them, that I have found useless and I can get the same info from the company.
Some like to tell you that and independent agent can shop for best rates---I do not believe that; they shop for the best commission for themselves. I can shop just easily with all the information available online today. You got to be careful that you are not being insured by a company that does not have the capacity to pay the claims. With all the reports of the AGI scum who collected huge bonuses and needed government help to prevent default. Keep in mind that AGI is an insurance company insurer. They are too big to fail and were not regulated and watched. So, if you think your state insurance commission is watching closely???
You also need to maintain a good credit rating as that is a measure of insurance risk; carriers use this info. The best way to save is not to own a car and if you have to buy, try to find the one with the least cost to insure. Of course, the best way to avoid insurance cost is not to have any property or own the least necessary to satisfy your needs.
Do not be tempted to buy only the basic coverage required on auto for your state, just to save money. Basic coverage is not enough, especially for liability. You have to have enough coverage so that the carrier will aggressively defend you against claims. If you coverage is too small, it is cheaper to them to pay your maximum, instead of legal cost to defend. You will then be liable beyond your coverage. It is especially important to have good coverage, if you have assets that can be seized. This is one area where being frugal can be very stupid.
If you have sufficient assets, you can also post a bond in most states and avoid insurance auto coverage costs. You should also seek an umbrella liability coverage, if you have extensive assets.
Yes, you can drop an agent, if you do not like them. It does take time to see if you can work with them and many times the office staff changes. It is not easy but they will do it, if you demand it. I have done it. I would then change to no agent, if possible. I am an excellent customer with minimum risk and I have the leverage. If you are a high risk, bad credit then you have to take what is given.
If you have sufficient assets, you can also post a bond in most states and avoid insurance auto coverage costs. You should also seek an umbrella liability coverage, if you have extensive assets.
What does it mean to post a bond? How is it done and what does it cost, in comparison to auto insurance? What does it cover?
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