are you insured

Are you insured?

are you insured

8 years abroad already, but in a way we are still attached to our parents in terms of insurances.

After having a chat with my brother about insurances, I realized that I  need to get a grip on our insurance situation.

With children in tow, I don’t want to miss a beat if something happens to our health and possessions.

The questions I asked myself?

1)   Where are we insured?

2)   For what are we insured?

3)   If the insurance is outside of the US, would we be insured in the US?

4)   What is the insurance coverage? Any deductibles?

5)   Is everyone inured? Everything insured? (The kiddos might need to be added?)

6)   What do I want to be insured for?

7)   Do I have contact information of the insurance?

8)   Does my husband know where to find insurance and contact information?

After a long dive into my folders I came up with the following answers:

1)   Where are we insured?

Germany, UK, US! (Plus I found a document proofing that I terminated a retirement account in Australia)

2)   For what are we insured?

Germany

a)    Incapacity of work

b)   Retirement

c)    Life insurance

d)   Householder’s insurance policy

e)    Liability insurance

f)     Accident insurance

 United Kingdom

a) Retirement

b) All other insurances have expired

United States

a) Health Insurance (inclusive eye and dental)

b) Disability

c) Car

d) Boat

e) Credit Card Insurance

3)   If the insurance is outside of the US, would we be insured in in the US?

Germany

I am still waiting for some answers.

But a)-c) yes!

d)-f) I am pretty sure no, as the insurance agents could not give me a straight answer.

That means I need to think about terminating the insurance! Tell our parents to take us out of their insurance!

I just talked to Geico about renters’ insurance. For $187.00 / year we would be covered for $20,000 if all our possession would be destroyed and if we would do damage to someone else’s property and/or possessions the liability coverage would be: $100,000.

United Kingdom

I am in the process of aligning the retirement funds with the German one’s. That means I am sending the German government proof that we in fact worked in the UK and paid in to the retirement pot. So once we retire, the funds should come from one source.

United States

a) Health Insurance

We use this one most often. Luckily for us, we are insured via my husband’s work and I know exactly what we are insured for.

Included in that insurance is a disability as well as a life insurance.

b) Car

I am constantly on the car insurance. We are with Geico, but I am comparing once a year with other insurance companies what the coverage is and the premium we would need to pay. That keeps me on my tows :-) .

c) Boat

We recently bought a small sailing boat. That’s a huge endeavor for us as we have small kiddos.

Because we just bought it, the insurance premium and coverage is fresh in my mind.

Just in case you own a house and thinking of buying a boat, you might be able to put the boat as a rider on your house insurance.

d) Boat-towing

Instead of having a towing insurance with SeaTow or Boat US, I opted to increase our boat insurance premium to cover towing up to $1000. That saved us $100. (Although, I hope we never need it.)

My next steps:

1)   Aligning all insurances and make sure our children are named as benefactors!

2)   File and Save the information at a save place!

3)   Tell my husband and parents (just in case) where to find all information!

How are you covered? Where are you covered?

Bis bald!

Julia

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