I've gotten tickets, but I've never tried most of these ideas, other than going to court, might be interesting to try some of the others if it happens again... It would have kept my insurance costs down at times!
How can I avoid getting a ticket?
As you can see, citations and tickets can cost more than just the assessed fine, it becomes that much more important to try your best to avoid getting a ticket. If you are pulled over or given a ticket by a police officer, you may have options to keep that ticket off of your driving record.
- Defensive driving class: Some states allow drivers a one-time option (or limited by several years) to take a defensive driving class to get certain tickets dismissed. When this happens, the ticket stays off your driving record upon successful completion of the class.
- Contest the ticket in court: If you don't believe you're guilty of the offense, you can always contest the ticket in court. You'll go before a judge and get to share your side of the story. In many states, the ticket might even be thrown out if the issuing police officer doesn't show up to court. If you don't contest the ticket, you will be guilty of the offense and it will go on your driving record (and be reported to your insurance company).
- Request a deferal: Some jurisdictions allow drivers who haven't had a ticket in a while to request a deferral. What this does is "put the ticket on hold" for some time. If you don't get another ticket in that period, the ticket doesn't hit your record. However, if you do get another ticket during the deferral period, you'll see both tickets hit your record.
- Safe driving tools: Many insurance companies have safe driving tools that you can install in your car to track your driving habits. While this won't do anything to force you to obey the laws, it may entice you to follow the rules of the road. When these devices record you being a better driver, your rates go down. With an extra financial incentive tied to driving better, you may be more prone to follow the rules.
The Simple Dollar: "What Is a Citation vs. a Ticket?" plus 8 more |
- What Is a Citation vs. a Ticket?
- What You Need to Know About FAFSA Requirements
- How to Prepare Your Home When Diagnosed With Parkinson's Disease
- Here Is What To Do If You Run Out of Unemployment Benefits
- Documents Required for a Personal Loan
- Here's How to Deal With Holiday Debt
- Black Friday Will Look Different This Year — Here's How to Save
- The Best Cars to Buy for Teen Drivers
- Lemonade Renters Insurance Review
| What Is a Citation vs. a Ticket? Posted: 20 Nov 2020 04:00 PM PST A popular question you often hear from new drivers and also some seasoned road warriors is 'what's the difference between a citation vs. a ticket?'. Additionally, besides just wondering 'what is a ticket?' and 'what is a citation?', you may be wondering how these may affect your car insurance and your driving record. While the exact answers to some of these questions may vary slightly by where you live, the general concepts are the same across the board. Is there a difference between a citation and a ticket?The answer is that a citation and a ticket are the same thing. These are two terms that both refer to getting cited or ticketed for a driving infraction. So, if you get pulled over for speeding and a police officer documents your infraction, you could interchangeably say you received a ticket, or that you received a citation. Not only are the two terms interchangeable with law enforcement, but the terms mean the same thing with insurance companies. Car insurance companies use your driving record to help determine your rate. Whether your infraction is called a citation or a ticket, it affects your rates the same. What are the most common citations?Citations come in all shapes and sizes for varying levels of infractions. On one end, you have warnings or "fix-it" tickets, where you either receive no penalty or you receive no penalty as long as you show proof that you fixed the deficiency by a certain date. On the other end, you have moving violations that may even carry criminal punishments. While data for the most common citations is not readily made public, data for the number of fatalities caused by certain citable infractions is available. Arguably, this information is more important as it identifies the most common violations that result in deaths.
How can a ticket or a citation impact my car insurance?Your car insurance rate is dictated by many different factors — some within your control and some out of your control. One of the biggest contributing factors within your control is your driving record over the past 3-5 years. Insurance companies use internal point systems and algorithms to determine how each type of infraction affects your car insurance rate. Generally, these algorithms are tied to data and metrics that relate to the costs to the insurer associated with each infraction. Be aware that certain insurance companies might not weigh different infractions the same way your state does. Just because a ticket doesn't cost you much with the state or get you points with its system, it might cost you a lot with your insurance rates. How can I avoid getting a ticket?As you can see, citations and tickets can cost more than just the assessed fine, it becomes that much more important to try your best to avoid getting a ticket. If you are pulled over or given a ticket by a police officer, you may have options to keep that ticket off of your driving record.
Tips for safe drivingThe best way to avoid getting a ticket is to obey the law and practice safe driving techniques. By knowing and employing some simple best practices, you can alleviate the risk of a ticket completely from your life.
Too long, didn't read?Tickets and citations are effectively the same thing. Both terms can be used interchangeably in all fields, including by police officers and insurance companies. You must understand the effects tickets can have on your insurance and the best ways to avoid getting cited for an infraction. Keep reading
The post What Is a Citation vs. a Ticket? appeared first on The Simple Dollar.       | ||||||||||||||
| What You Need to Know About FAFSA Requirements Posted: 20 Nov 2020 01:00 PM PST | ||||||||||||||
| How to Prepare Your Home When Diagnosed With Parkinson's Disease Posted: 20 Nov 2020 09:58 AM PST The post How to Prepare Your Home When Diagnosed With Parkinson's Disease appeared first on The Simple Dollar.     | ||||||||||||||
| Here Is What To Do If You Run Out of Unemployment Benefits Posted: 20 Nov 2020 06:03 AM PST The post Here Is What To Do If You Run Out of Unemployment Benefits appeared first on The Simple Dollar.     | ||||||||||||||
| Documents Required for a Personal Loan Posted: 20 Nov 2020 06:00 AM PST | ||||||||||||||
| Here's How to Deal With Holiday Debt Posted: 20 Nov 2020 06:00 AM PST Several years ago, when I was living a lifestyle that was at least partially funded by credit card debt, I absolutely hated the middle of January. Every single December, I would overspend. I'd buy expensive gifts for everyone on my list. Sarah and I would buy a pile of gifts for each other. We'd eat a lot of expensive foods. We'd travel. We'd decorate. We'd have "shopping days" where we'd also stop at coffee shops, go out for lunch, and usually end with an expensive supper. It felt fun at the time, but by early January, it had faded. Then, mid-January would hit and the bills would start rolling in and it felt awful. The debt hole we were in was deeper than ever. In fact, the last year that we were in such deep debt, just before we committed to a turnaround, was particularly awful. I have a strong memory of a snowy day where I was sitting in my vehicle after coming home from work with my infant son in the back in a car seat. It was snowy and I was sitting there parked near our apartment, idling and not wanting to go get the mail, go inside or face any of it. Of course, it doesn't help that this is right in the middle of winter, where many people in the northern hemisphere are dealing with at least a bit of seasonal affective disorder. If you're feeling overwhelmed with post-holiday debt, most likely perched atop a lot of other debt — student loan debt, car loan debt, mortgage debt or other credit card debt — trust me: there is hope and there is a plan. Not only can you get out of this situation, you can create a situation where it doesn't repeat itself without feeling miserable about your life. By the very next holiday season, Sarah and I were almost free from credit card debt. We kept our spending pretty well in check and managed to not accumulate a single dollar in additional credit card debt that season — or any season after that. By the holiday season after that, we were free of debt aside from our mortgage. Four years later, we paid off our mortgage, too. It wasn't miserable or sad or lonely, either. You can do this. You can dig yourself out of this hole. Here's how. Figure out where your wasteful spending is and cut it out.Sit down with all of your credit card bills and bank statements that you can find from the last few months and a highlighter. It's time to reveal some truths about your spending. Go through each and every line item on those statements and, for each one, ask yourself a simple question. "Did this spending bring any lasting value into my life?" Be honest about that question. Do you even remember that expense? If you do, did it really bring anything into your life beyond an immediate and quickly-fading burst of pleasure? If it didn't bring any lasting pleasure into your life, highlight it and keep moving. You should also include things where you actually needed a cheap version of the item but you bought a more expensive version for no real reason. "I was hungry!" doesn't justify a $40 restaurant meal, for example. When you're done, go back and look at every single highlighted item. Look at how much you spent on things that really don't matter at all. That stuff needs to go. It's fine to spend money on things that actually matter to you in some lasting fashion, but the truth is that a lot of spending doesn't matter in any lasting fashion. It's that stuff that doesn't last, the stuff you can barely remember, that you have to learn to cut out. You don't cut the meaningful stuff; you cut the stuff that doesn't mean anything. One big thing to look for is patterns. Where are the places where you're repeatedly spending money on forgettable things? Do you make a lot of forgettable Amazon purchases? Do you have an astonishingly large number of coffee shop expenses? Those are the expenses to really target. In my situation, I discovered that there were several rather meaningless routines that I was following that were simply sucking the money right out of my pocket. For me, the big one was the local convenience store that I would almost automatically stop at on my way home from work. I'd usually grab a beverage and a snack, spending $5 or $6 on something that could have cost $1 if I'd just waited until I got home. Thus, one big change I made was to simply have a few of my favorite snacks at home, bought cheaply and in bulk, so that I wasn't tempted to stop at the convenience store. Before long, I actually cut out the snack itself — it wasn't doing my health any good — and so I wasn't spending anything. I moved from dropping $6 at a convenience store about 15 days a month to maybe eating $2 worth of bananas as snacks after work, and I completely didn't miss the difference. Another switch I made was to simply start buying everything in store-brand form. I basically tried the store brand version of every product I could at the store. If it didn't click with me, no big deal; I'd get the name brand version the next time. Guess what? Today, I buy almost nothing name brand if there's a store brand available. Remember, you're looking for the forgettable, unimportant expenses, not the stuff that matters deeply to you. Does it matter if you're buying store brand detergent if your clothes get clean? Is your life permanently made better by buying coffee from a coffee shop instead of getting it at home? Take those forgettable expenses and intentionally adopt new habits that cut them out. Alter your commute so you don't stop for a goodie. Delete your credit card info from Amazon. If you're altering a behavior or adopting a new one, make it a point to remind yourself of that change at least once a day — phone reminders are a good way to do that. Another simple step to take along these lines is to nudge down your energy use. Here are 14 ways to drop your energy use any time of the year, 20 more winter-specific energy strategies, and 17 more summer-specific techniques. These steps cut your energy bill without doing anything negative toward your quality of life. It's just a smaller bill in your mailbox. While you're at it, check all of your other bills line by line and contact the company if there is any line you don't understand or don't want. Ask to have that charge eliminated or reduced going forward. You'll be surprised how many can be cut, and if you reduce all of your regular bills by 5% or 10% with no difference in service, that's money in your pocket. All of this frees up money that was previously tied to completely wasteful, forgettable spending. That money is going to be your resource for turning the debt around. Clean out your closets.While it's nice to reduce your ongoing expenses, it's really powerful to get a big jump start on paying down your debt, and the best way to do that is to clean out your closet. Cleaning out your closet and selling off a lot of excess items that you don't use has the dual benefit of not only generating some quick cash, but also clears out a lot of space in your home. Many homes wind up cluttered in the immediate aftermath of the holidays, and cleaning out your closets can really help. Go through your closets and your collections, identifying items that simply aren't bringing you value. Are you going to use this item at any point in the next year or two, realistically? If not, sell it off. How do you sell those items? There are many ways, depending on the item. If it's a niche hobby item, there may be specialty stores in the area that will help you sell the item secondhand, or you may be able to sell it in online groups related to that hobby. For more general interest items, you can sell items easily on Facebook Marketplace or Craigslist. Clothes in good shape can often be sold at consignment shops. For the most part, you won't get as much out of these items as you paid, but that's not the goal. The goal is to turn something that's just sitting in your closet into cold hard cash that you can then turn into an immediate boost toward your debt repayment goals. Stop the interest rate bleeding.Another powerful step you can immediately take is to look for zero interest or low interest balance transfer offers. You can then transfer your high-interest credit card debt using these offers and transform it into debt that doesn't accumulate any interest at all (or very little interest) for the next year or so, depending on the offer. Such offers typically require you to sign up for a new credit card. Upon signing up, you give the new credit card company the account information for your old card with a balance and they pay that old balance off. You'll now have a balance with the new card, but that portion of the balance won't accumulate any interest for a while. This is a great idea if you have a plan in place to pay off that balance within a reasonable period of time. However, when the zero-interest period ends, interest rates kick in and they're often at least as high as the rate on your old card, if not higher. So, you need to be paying down that balance even though it's not earning interest right now. Also, cards with a good balance transfer offer often have a poor rewards program, so it's usually not a good idea to use that card for additional purchasing. If you still want to use a card for purchases even as you're trying to pay them off (not the best idea), you probably want to use your old card. Make a debt repayment plan.You've taken those steps. You've reduced some interest rates. You've got some money in your pocket from selling things off. You've made some changes to curb your spending. Now it's time to put them all together in a debt repayment plan. Make a list of all of your debts ordered by interest rate with the highest interest loan first. Take the money you've earned by selling things off and make a huge extra payment on the first debt. If that would pay it off, pay down the next debt on the list. After that, aim to make the minimum payment on each debt on that list while making a large extra payment on whichever debt is at the top of the list. When you pay off the debt at the top, cross it off. What you'll notice is that as you pay off each debt, you'll have more money available the next month because you'll have one fewer minimum payment to make. In other words, things will start to go faster and faster as you move down this list. If interest rates change — for example, if you have a zero interest balance transfer offer that ends and it jumps to a much higher rate — reorder that list. If that means there's a new debt with the highest interest rate, start making big extra payments on that debt instead. Build an emergency fund and make it automatic.Once you have that debt repayment plan in place, one thing you'll quickly notice is that unexpected expenses can really derail your progress on that plan in a given month. Some months, you'll be able to make a huge extra payment, while in other months it's very hard. Sometimes life hands you lemons. A good approach to have going forward is to build an emergency fund automatically so that when a big emergency hits you don't have to go into debt to handle it. It's pretty easy to do, too. Just go to your bank (or your online banking service) and set up an automatic weekly transfer from your checking to your savings account. Set it at $20 a week, for example, and then just forget about it for a while. If you let that automatic transfer sit for a year, you'll have $1,000 in your savings account that you can tap into for an actual emergency. That can help you repair your car when it doesn't start or take an emergency trip to see an ailing loved one without going right back into debt. My advice? Never turn off that automatic transfer. Just let your emergency fund keep building automatically when things are good so that you have cash in hand when things go bad. This will keep you from building debt when an emergency hits and furthermore, can keep you feeling like you're going in the wrong direction on your debt repayment plan. Don't stop, even if you make a mistake.When you first head down this path and see the debt melting away like snow in the early spring, it can feel amazing. Finally, things are headed in a great direction! Then, something unexpected happens. You're hit with an unplanned expense. You slip up and spend a lot of money on unimportant things. Just like that, your debt balance goes up rather than down, and it feels hopeless. You feel like giving up. Don't. The path to paying off debt is not a straight one. There are setbacks. There are mistakes. You're human — you're going to do something wrong along the way. The key to real lasting success isn't the initial effort or the initial mistake. It's whether, after a mistake, you pick yourself up, dust yourself off, figure out what went wrong and keep moving forward. The key to doing that, in my experience, is to focus on today as the most important aspect of success. It doesn't matter what you did yesterday, even if you messed things up. Tomorrow doesn't matter, either — success might be close or it might be far off, but that doesn't change the fact that today's success is the piece that matters. Today is the day you decide whether to make bad spending choices or to keep moving forward on your progress. Yesterday's mistakes and successes don't matter, nor does tomorrow. You only have control over today. You only have control over that choice right now. Choose to move forward when it's tough. Choose to say "no" even when it's tempting. Don't put off that decision until tomorrow. Don't coast on the good decisions from yesterday or wallow in pity over the bad ones from yesterday. It's about today. Today is what matters. Talk to people now about the upcoming holidays.One final, vital tip in dealing with post-holiday debt is to make sure that it doesn't repeat itself in the upcoming holiday season, and the way to do that is to talk to the people you exchange gifts with to see if there's a better way of doing things. Go through the list of people you bought gifts for and received gifts from and decide whether or not it might make sense to make a change to that gift exchange in the coming year. Maybe it makes sense to just end that gift exchange, or maybe simply to cut back on it. Maybe a big family gift exchange might make more sense as a drawing or a "white elephant" exchange rather than everyone buying for everyone. Maybe you could agree to make homemade gifts rather than buying stuff, which is usually much less expensive (you're spending time rather than money, typically). Talk it over with those folks sooner rather than later. Don't bring it up in October or November, when people may have already budgeted and bought items. A few simple conversations right now, and perhaps reminded in October or November, can keep your budget for the holidays in the coming year much lower than it was this year, which can help keep holiday debt in check. Remember, the thing that matters most during the holidays is quality-focused time spent with people, not the purchasing of expensive gifts. You can do this.Holiday debt might feel immense and frustrating right now, but you can do this. You just need to have a plan, make some sensible spending changes, and move forward one day at a time. Before you know it, your holiday debt will be long in the past — and other debt might just be gone as well. Good luck! The post Here's How to Deal With Holiday Debt appeared first on The Simple Dollar.     | ||||||||||||||
| Black Friday Will Look Different This Year — Here's How to Save Posted: 20 Nov 2020 05:00 AM PST As Black Friday approaches, you're probably wondering how to maximize your savings – without camping outside Best Buy for three days or getting into a shoving match with a soccer mom, of course. But the key to saving more than anyone else on Black Friday is simple: Stay home. Buying stuff you don't really need just because it's on sale is not called "saving money" — that's called spending money. If you need a little help fighting off the frenzy, here are 10 free things to do on Black Friday that will truly save you some money and help you you avoid the crowds altogether. Sleep in.Your friends are setting their alarm clocks for 2:00 a.m. so they can sleepwalk into the pre-dawn doorbuster sales, but who cares? Turn that sucker off altogether and nurse your turkey hangover. Go to work.With nobody else at the office, you might actually get some work done for a change, and at least you'll be making money. Be your office hero. Gorge on Thanksgiving leftovers.No one is home. Now's your chance. Watch Black Friday mayhem on the news.Why risk being trampled by a sale-hungry mob? Watch the highlights on TV — it's better than being there in person. Trust me. Binge watch TV.Twenty-four episodes in most TV series' seasons, 24 hours in a day… coincidence? Settle in with a new or favorite show. It's amazing and you know it. Work off those holiday calories.Losing pounds is better than losing money, so if you must… Decorate for the holidays.Back before holiday shopping ads began to bleed into early November and then even October, the day after Thanksgiving marked the official start of the Christmas season. You have all day – might as well get the house looking festive if you haven't yet. Enjoy some peace and quiet.Ignore the chaos outside, and get yourself in the zone. Declutter your home.Do the opposite of what everyone else is doing and actually get rid of some stuff. Check out our tips for decluttering here. Relish in the fact that you spent zero dollars today.…and laugh at the fact that someone you know waited three hours to save $20 on a flat-screen TV. Are you planning to shop this Black Friday? If not, what are you doing instead? The post Black Friday Will Look Different This Year — Here's How to Save appeared first on The Simple Dollar.     | ||||||||||||||
| The Best Cars to Buy for Teen Drivers Posted: 20 Nov 2020 04:00 AM PST When a teenager gets their driver's license, it can be exciting for the teen and nerve-wracking for their parents. Luckily, many of the fears and concerns parents face can be alleviated by choosing the right vehicle. While most parents would prefer their kids to drive around in an impenetrable tank and most teens would prefer a sports car, there is a happy middle ground. What should a car for a new driver have?Picking out good cars for teens can be a little tricky when trying to juggle affordability, safety and style. Thankfully, many car providers understand the struggle and have created some of the best cars for teenagers. These cars will have:
The top 6 cars for new drivers1. Mazda 3 Sedan or Hatchback (2014 or newer) – Best small carPriced around $7,000, the Mazda 3 sedan or hatchback is a stylish car with a 5-star safety rating from the IIHS. The car was a 2014 Top Safety Pick + thanks to superior marks in crashworthiness and crash avoidance and mitigation. If you're looking to take safety to the next level, optional upgrades to shop for include blind-spot detection and lane departure warning, available on newer models. Overall, this 4-door sedan is a top pick on the list of best cars for teenagers. 2. Subaru Outback (2013 or newer) – Best midsize carIf your teen does a lot of sports or plays in a band, they may need some extra cargo space for hauling around gear. The pick for the best midsize car for teens is the Subaru Outback — 2013 or newer. The car is a 2013 Top Safety Pick + with perfect marks in four of the five crashworthiness categories and crash avoidance and mitigation. The Outback received a rating of 'Acceptable' for the small overlap front on the driver's side. If style, cargo space and safety are important factors, the Subaru Outback is a great option averaging used around $8,500. 3. Hyundai Genesis (2016) – Best large carWhen your teen wants full-size luxury, the Hyundai Genesis should be on your radar. While more expensive than many of the other options on this list, averaging around $18,000, the 2016 Genesis is a safe and stylish option any new driver would be ecstatic to get behind the wheel of. As a 2016 Top Safety Pick +, the Genesis runs the gamut when it comes to keeping drivers and passengers safe. Again, the price is considerably higher, but the luxury features deliver value. 4. Chevrolet Equinox (2016 or newer) – Best small SUVThe 2016 Chevy Equinox is a fan-favorite when it comes to the best cars for new drivers. For starters, the vehicle gets exceptional safety marks across the board with the IIHS. Averaging a price of around $12,100 for the used model, the car is still relatively affordable. And like all of the other vehicles on this list, the Chevrolet Equinox has a dry braking distance (going from 60 mph down to 0 mph) of 145 feet or less, which can help newer drivers who may have slower reaction times. 5. Hyundai Santa Fe Sport (2017-2018) – Best midsize SUVIf you need a vehicle with a little more size than the Chevrolet Equinox, the 2017 and 2018 Hyundai Santa Fe Sport is a great option to consider. Overall, both year models received great safety marks and clocked in as Top Safety Picks +. The one thing to be aware of is the headlights on the 2017 model received a poor rating from the IIHS, and the headlights on the 2018 model range from good to poor, depending on the exact model. If your new driver is going to be doing a lot of driving on darker back roads, this might be something to look at when test driving. The average price for these vehicles is around $15,800. 6. Honda Odyssey (2015-2016) – Best minivanFor teens and new drivers planning on hauling friends around, a minivan could be a quality option. The 2015 and 2016 Honda Odyssey is a Top Safety Pick, comes with standard daytime running lights and has optional blind-spot detection and lane-departure warning features. With an average price tag of $12,400, the vehicle is still affordable. Additionally, if your kid is in a band or plays sports, the ability to haul equipment and friends at the same time is a big plus. How to lower car insurance for a new teen driver
Compare Affordable Car Insurance Rates Save money on auto coverage with our simple comparison tool. Too long, didn't read?The best cars for teenagers are safe, affordable and still check the style box. By finding the right car, you can have a happy teen, increase their safety on the roadways and help to lower their car insurance rates. Keep reading
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| Lemonade Renters Insurance Review Posted: 19 Nov 2020 11:00 AM PST Find the Best Renter Insurance Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate. Find the Best Renter Insurance Save money on home insurance with our simple comparison tool. Lemonade is not your parents' insurance company. It uses chatbots and high-tech AI to write policies and determine claims payouts. As a public benefit, or B-Corp®, it focuses on social good as well as profits, with an industry-first "Giveback" once a year that sends excess money not needed for claims to charitable organizations of its customers' choice. Lemonade renters insurance rates are reasonable and often below the rates offered by more traditional insurers. The company writes its own policies, unlike insurers such as Geico and Progressive, and is reinsured by Lloyds of London, so the company will remain solvent and able to pay out claims even in the event of a catastrophe. The flip side to those low rates is that the company's coverage is basic, and you don't have the ability to customize your coverage with a range of optional add-ons. It also offers few discounts—though the basic rates are low enough that you probably won't miss them. Another disadvantage is the lack of live agents. While working with AI is fast and easy, sometimes you need a real person to talk to about your policy. The specs
The claimForget everything you know about insurance because Lemonade is different: it offers instant claim fulfillment, great prices and a transparent corporate structure. Even its business model is different: the company takes a set amount for expenses, and all other profits get paid out in claims. Anything left over goes to charity. Is it true?Yes, but it isn't the whole picture. Lemonade IS different. Its reliance on technology rather than agents allows you to purchase a policy and make a claim quickly and easily. Those policies offer fairly basic coverage for great prices without hidden fees or complex fine print that limit your policy and make payouts next to impossible to obtain. But there are some caveats. Without the ability to customize your policy with endorsements, your coverage is generic. Lemonade renters insurance allows for only one endorsement: extra coverage if you have expensive belongings like fine jewelry or art. More traditional insurers generally offer a handful of options so you can create coverage that is unique to your needs. The sticking point with Lemonade is, ironically, what the company considers its greatest strength. By relying on tech instead of live human beings, you may have difficulties if you have a specific situation that requires the finesse that only a dedicated agent can give you. Our deep dive
Cost rundownBecause insurers take many factors into consideration in writing your policy, it's impossible to predict what your policy cost would be. You don't have to guess, though. Lemonade's chatbots can write you up a policy in seconds. There's no cost and no obligation. The basic Lemonade policy covers the following:
The important factor here is that you are protecting your belongings. The structure itself is covered by your landlord's policy, so you don't need to worry about the building itself. Although a Lemonade policy will probably cover you for whatever happens in your apartment, there are two perils that are not covered: earthquakes and flooding. These claims are generally so expensive that it would increase your premiums exorbitantly to include them. Flood insurance is available, though not from Lemonade. The company does offer earthquake insurance in California and Arkansas. Cheaper (or free!) alternativesLemonade renters insurance won't take up a big chunk of your change, but there are a few things you can do to make sure you're paying as little as possible for the maximum value.
The competition
What others are sayingForbes describes Lemonade as a "millennial-loved fintech unicorn," and says that by using artificial intelligence, a mobile app and other tech-centric methods, the founders are drawing in big investments from funders and creating a new model for an old, and arguably stodgy, business. Insurance Nerds, meanwhile, is less impressed with Lemonade. Writer Nick Lamparelli says that beneath the bells and whistles, Lemonade is functionally no different from any other insurance company. Although the technology is great, sometimes live agents can be helpful. "[Can] the robot handle the firestorm that comes when the company is hit with their first major natural catastrophe?"he asks. The bottom lineLemonade renters insurance is a great choice if you're looking to save money and want an easy insurance experience with the potential for part of your premium to benefit charities that you care about. If your needs are more complex, however, or you'd like the ability to speak with a live agent, you'll want to check out a more conventional insurer. The post Lemonade Renters Insurance Review appeared first on The Simple Dollar.     |
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