Spend Your Pet Insurance Money Wisely

There’s no guarantee that your four-legged family members will always be healthy. Pet insurance is a simple way to ensure that you will not have to make difficult decisions in the future. You can prepare for the unexpected with a low cost pet insurance policy, especially if you know what to look for.

There are numerous considerations that you want to make when opting to buy coverage for your pet. If you have a long standing relationship with your pet’s veterinarian, this is especially true. You’ll want to make sure that you can still stay with the same vet even though your payment method is different. You can save yourself a lot of hassle, stress and money just by knowing what questions to ask when you do a pet insurance comparison.

It’s a good idea to speak with both your veterinarian and any insurance companies that you are considering to find out which insurance policies your vet accepts. Your veterinarian might also be able to refer you to a pet insurance company. He probably has a pretty good idea of what is covered under the different policies and how that matches up with your pet’s health needs.

Any pre-existing condition that your dog or cat has should be discussed before you choose a provider. You need to know what will and won’t be covered if you buy an insurance policy from this company. Many pet insurance policies exclude pre-existing conditions altogether. This means that new problems will be covered, but continued treatment of a health problem that your pet already has will not be covered. If at all possible, buy a pet insurance policy while your pet is young, before he has any health problems.

The same is also true for a chronic or recurring condition. Some pet insurance policies only cover expenses for a certain number of visit related to one issue, even if the pet was insured before the first instance. Make sure that you find an insurance company that will offer coverage for chronic conditions. These are usually the most expensive types of problems in the long run.

Financial stability and reputation are important too. After all, you want a company that’s still going to be in business when and if you have a claim. You can try asking around if you’re not able to get a referral from a veterinarian. Try family, friends and co-workers. Maybe employees at the local pet store will be able to offer information about one or more insurance companies. You are looking for a policy that covers the cost you’re likely to incur at the best possible price.

Online ratings and reviews also provide a fair amount of insight into how well a company performs. Look for ratings written by real customers about how their claims were handled. Be alert to any problems people have had. Did the insurance company do well even if a pet had extensive health needs? Did they raise the premium after a certain amount of claims were filed?

Choosing the right pet insurance is not always easy, but it is certainly always beneficial. Your animal, your loved one, is counting on you to make sure that he or she is able to get the attention and treatment that will be necessary throughout life. Paying a minimal fee now, will spare you the difficulty of having to sudden arrangements in the event of an unforeseen accident or illness.

California and Federal Home Buyer Tax Credits Overlap

Restarting the residential real estate market is a key objective of our elected officials. The federal government has approved a tax credit for home buyers. California’ leaders just did the same. The two tax credits overlap for a couple of months – just enough to take advantage.  You could get both tax credits for buying a residence, if you time it right.

First, you would have to sign a contract to buy a home by April 30th, 2010 and close by 6/30/10. Verify that you are eligible under both programs. Here are the general requirements.

Federal Home Buyer Tax Credit

A federal tax credit of $8,000 is available for first-time home buyers.. If you have not held title to any real estate in the most recent three years, you qualify as a first time buyer. A tax credit of $6,500 is offered for home buyers who have previously owned real property. This is a tax credit, not a tax deduction.  A credit allows you to deduct $6500 or $8000 from your final IRS bill. This is a refundable credit, so you’ll get the money whether or not you have to pay that much in taxes. You get the credit all in one year, so if you purchase a home before the June deadline, the entire credit will apply to your 2010 income tax.

This credit is available if you choose a home to occupy, whether it’s an existing home or a new one  It’s expiring soon, though. You must sign a contract by 4/30/10 and close on or before the end of June.

California Home Buyer Tax Credit

The recently approved California tax credit for home buyers is also available for the purchase of a primary residence. The $10,000 credit is available on both existing and new homes for first-time buyers. Repeat buyers are eligible for the same $10,000  tax credit, but just if they buy a new construction home. These beautiful new homes in Chula Vista are eligible, as are these San Marcos new homes.

Exactly like the federal incentive, this is a credit, which is worth much more than a deduction. The California incentive is a non-refundable tax credit, though, unlike the federal version. This credit is taken over a three year period, starting the year you purchase the property. You can’t take the full $10,000 credit if you don’t pay at least $3,3333 in California state taxes in each of the next three years. . Your annual tax liability includes money withheld from your paycheck by your employer. The “tax owed” on your state tax return is the amount you’re looking for.  This credit is available on homes closed after May 1, 2010 until funds are depleted.

Don’t Forget the Other Important Details

Does it look good for you so far? Keep reading. You have a little more investigation to do before you can count on these tax credits. These amounts are maximums. The federal tax credit is the lower of $8,000 or $6,500, depending on your status, or 10% of the home’s value. If you find a property for less than $80,000 (doubtful in many parts of California!), then your tax credit is capped at less than $8,000. The credit only applied for the purchase of a home valued at $800,00 or less.

The California state tax credit is five percent of the purchase price, up to a maximum of $10,000. Your tax credit will be capped at 5% of the value if you choose a property priced at lower than $200,000.

Caps on income and other requirements apply too. Study the specifics of both tax credits if you think you qualify. Better yet, find a tax professional to make sure you will qualify before you count on the money.

Mortgage companies are backed up right now and the window to benefit from both federal and California credits is extremely restricted. Find a lender and initiate the process of applying for a loan as soon as you can. It can be time consuming to collect bank statement, tax returns and other documentation.

We’re unlikely to see this combination of low interest rates and tax credits again any time soon. If you are in a position to buy a home, this is your golden opportunity.

What Insurance to Buy

We’d all like to know that the things we’ve worked hard for won’t suddenly evaporate. There are several problems that could cause us to lose something we own. The whole insurance industry was born because of this daunting uncertainty. Should you purchase insurance, or is it just a strategy to get your dollars by playing on your worries? The answer is both. Some kinds of insurance policies are a very advantageous proposal, and some are a waste of money. How can you judge the difference?

Start with the things that you can’t afford to lose. Keep in mind your prospective resources in addition to your current ones. The main factors for almost everyone are health, auto, home and liability. Many people would not have enough money for the worst case scenario in these areas. Liability insurance is usually a component of something else, like auto insurance or homeowner’s insurance. Umbrella insurance is available to cover any liabilities above and beyond those covered by existing policies. You might imagine that you can do without liability insurance if you don’t have significant assets. But a judgement against you could garnish future salary, so don’t reject it automatically.

These basic kinds of policies have been available for a long time. Many reputable businesses offer it, so you can shop around. Be sure you take the time to get more than a few quotes. Fortunately many companies offer instant online quotes. You can get quotes from several motorcycle insurance companies in just a few minutes. Insurance companies allocate risk differently, so there may be a wide variance in premiums for your specific circumstances. In your specific situation, one company could offer a much better premium than another. Also make sure you compare the coverage. If you have a loan on something, like a house or a car, the lender often requires specific insurance. This might make it easier to compare apples to apples.

Once you’ve considered the must-have insurance, look at any other belongings you might want to insure. You can purchase pet insurance, an extended warranty on a computer, or travel insurance for a vacation. If you suffered a loss related to any of these things, you would probably get by. You might prefer, however, to pay a little bit each month to avoid a financial surprise. Since the potential loss is lower, the premium should also be significantly lower. Do the math on what costs you might incur and compare the premiums.

Find out if you already have coverage. For example, if your brand new dishwasher stops working, it might be covered by the manufacturer’s warranty. Your credit card company might offer protection on items you purchased with the card for free.

You might also consider self insurance if you are good at managing money.

It’s often less expensive to insure several things with a single policy. Your homeowner’s or renter’s policy could cover some of your belongings against some risks. Umbrella policies cover liability that might result from a car accident or an injury on your property as well as a variety of other situations.

You shouldn’t just purchase whatever insurance policies are offered by sales people. Rather you should make an inclusive strategy that meets your needs.