Personal Perspective

Millions of American families are eligible for health benefits provided by both spouses' employers. Many choose to purchase benefits from both, hoping to recoup more expenses between the two policies. This practice can be pricey and, at times, useless. The Wall Street Journal says families who don’t consolidate under a single employer-sponsored health plan are often unaware that such policies are designed to prevent redundant coverage. In other words, you often can’t get payment for one incident from two insurers. Only in isolated cases is it worth paying the additional premium for a secondary insurer who offers essentially the same benefits as the primary.

As the summer approaches and brings the heat, let us not forget one of our most basic human intuitions: When the body gets hot, submerge in water. Pool parties! A ride down a neighborhood street on a Saturday can often reveal exactly who on the block owns the pool. Kids, and adults pretending to be kids, gather for food, fun and an escape from the heat.

Water damage is one of the leading causes of homeowners insurance claims in the U.S. Many times, the source of a leak could have been easily detected and remedied for a fraction of the cost of replacing the damaged materials. If you are a homeowner, there is no time like the present to inspect your home for leaks.

With so many of our customers making home improvements these days, we think it's important to keep in mind a few things about contractors. Sure, we know the good ones are often hard to find, but you need to protect yourself. Here are some tips before you start. - See if your contractor has a license. To see if it's required by your state, visit www.contractorslicense.org. - Get your deal in writing, including labor, timeline, warranty, site cleanup and trash disposal, and mediation and arbitration clauses in the event of a dispute. Sample documents are available at www.aia.org.

In today’s economy, employers everywhere are tightening budgets and, often, cutting employee benefits. With one of every three American workers needing disability insurance at some time, that coverage is something you shouldn’t be without. So, if your employer decides not to offer it, or you think its coverage is inadequate, consider purchasing your own long-term disability policy.

Of the 35 million Americans who rented homes in 2005 (about 31% of all U.S. households), almost 25 million went without renters insurance —and, as a result, left themselves completely vulnerable to property damage and liability risks. According to a survey by the Independent Insurance Agents & Brokers of America, 26% of respondents felt that renters insurance was too expensive, while 17% said they didn’t know they needed it. Even worse, 8% claimed they didn’t know the coverage existed.

If you're more worried about dying young (before age 65) than being disabled for an extended period, you might be giving in to false fears, or so reveals a recent MONEY/ICR survey. According to the Society of Actuaries, there's a 13% chance that an American worker will die before age 65 and 28% probability a worker will be disabled for an extended time before that age.

The U.S. and Caribbean are in for another hurricane-plagued year in 2006, according to recent reports from Tropical Storm Risk (TSR), an award-winning forecasting consortium. TSR predicts Atlantic-basin hurricane activity to be a staggering 60% above the 1950-2005 average.

The luxury automobile is for those who see the driving experience as a reason to really enjoy life. Such cars don’t come cheap. And when you consider the cost of insurance, it can be downright mindboggling. According to forbes.com, in 2005, nine of the 10 most expensive vehicles to insure were cars, not SUVs or trucks. Topping the list is the Mercedes SL65 AMG, followed closely by the Lincoln Town Car BPS and the BMW 760 Li.