Post Tagged with: "Insurance"

Why You Need Special Events Insurance for Your Next Big Occasion

September 12, 2018 at 4:41 pm Comments are Disabled

Special EventsMore and more couples are buying wedding insurance, or special events insurance to cover losses during a wedding or a reception.

According to Gulf Harbor Insurance, it would be a good idea to sign up for an event insurance plan if the host is going to serve liquor or if it is a special once-in-a-lifetime occasion. The chances of something bad happening might be low, but taking out an insurance policy against these things can help.

Special Events

These special events policies are not limited to weddings. There are other occasions the organizers might want to cover — fundraising events, outdoor activities and beach parties, for example. Sudden rain during an outdoor bingo social or a cake auction can have detrimental effects.

A popular form of special events insurance is the “hole in one” insurance. This kind of policy is useful for golf events where there is a special prize for a hole in one. The amount insured covers the cost of the special prize, such as a car or a vacation trip for two.

Nuptial insurance covers liability insurance and cancellation. It also covers items that might impact the wedding and reception. These include rain, power failure, or other unforeseen circumstances.

Peace of Mind

Special events take careful planning and some forethought. There are constants, such as the list of attendees and the schedule of events. Once these have been finalized, there are the intangibles and other random variables. The weather is always a concern.

A beach event is usually scheduled in summer, and yet there is always a possibility of rain. A transport strike or an airport shutdown is not foreseeable when planning months in advance. These will definitely have an impact on the event.

Special events insurance is not like betting on a long shot. It costs a small premium, with substantial coverage. For a fundraising activity, it can mean the difference between hitting the targets and rescheduling the event.

How to Avoid a Timeshare Foreclosure

September 10, 2018 at 9:46 am Comments are Disabled

a couple moving inTimeshares are among the few investments that assure you of an annual getaway. There are two payment options for a timeshare, including mortgages and cash. If you purchase a timeshare using a mortgage and fall behind in your payment, the timeshare might be foreclosed. Getting out of a timeshare obligation is tricky, and most resorts make it almost impossible. However, you can do many things to avoid a timeshare foreclosure. Here are some of them:

Deed in lieu of a Foreclosure

In this option, you voluntarily give your timeshare back to the resort to avoid its foreclosure. Though it sounds easy, most resorts are not willing to accept the deed, more so if you have arrears in maintenance and assessment fees. You can try to convince them to accept the deed or update your maintenance and assessment fees.

Donate Your Timeshare

To avoid a timeshare foreclosure, you can donate it to charity then take a tax deduction. Before the donation, the resort will expect you to pay any outstanding assessment fee. Most charities nowadays are reluctant to accept a timeshare donation because of the expenses associated with its ownership. However, you might find one willing to take it.

Negotiate a Repayment Plan

If you still wish to keep your timeshare, you can negotiate with the resort for favorable repayment terms. The resort may agree to reduce your arrears or give you a forbearance in which you do not need to make payments for a particular period. Failure to honor your negotiated terms generally leads to timeshare foreclosure. There are state laws governing timeshare foreclosure. It is hence imperative to get an attorney to review your situation and recommend the ideal solution. A timeshare closure significantly hurts your credit score and should be avoided at all costs.