Triple A’s Dirty Little Secret

By parkinsonins

The Auto Insurance Exchange also known as the Auto Club or Triple A has a dirty little secret. While most insurance companies charge a flat service fee for each bill that is sent ($2.00, $5.00, $10.00, etc.) in their installment billing plans, Triple A charges a percent interest rate like a credit card (approx 18-22%).…

Before You Rent That Car – Part I

By parkinsonins

There are several things from an insurance perspective to be considered before you rent a car. The first of which is, am I covered if I choose not to purchase insurance from the rental company? The basic answer is, you are covered for all of the coverage that you have purchased on your personal auto…

What You Don’t Know About Loss Of Use

By parkinsonins

Your Loss of Use coverage may not be what it is cracked up to be. Loss of Use coverage is typically 20% or 30% of the amount of coverage that you have on your dwelling. So, if your house is insured for $100,000.00, your Loss of Use coverage would be $20,000.00 (20%) or $30,000.00 (30%).…

When Should a Lender Order Evidence of Insurance?

By parkinsonins

When should a lender order Evidence of Insurance? Never. In the state of California home purchases and refinances are managed by an escrow company. The escrow company serves as the conductor and manages all of the legal aspects of the purchase or refinance; title, vesting, loss payable , etc. It is the Escrow Company’s responsibility…