by onlinefinancialnewsletters | Oct 23, 2014 | Personal Protection
We all have the occasional night where we just can’t manage to fall asleep or stay asleep long enough to feel rested. However, according to the Centers for Disease Control and Prevention (CDC), insufficient sleep is rapidly becoming a public health epidemic, with lack of quality slumber linked to motor vehicle crashes, industrial disasters and medical errors as well as a number of chronic diseases. In fact, the National Sleep Foundation reports that 20 percent of American adults show signs of chronic sleep deprivation including decreased performance and alertness as well as memory impairment.
Short-Term Dangers of Poor Sleep
According to WebMD, losing as little as 1.5 hours of sleep one night can reduce daytime alertness by as much as 32 percent. This might not seem like a big deal—especially if you spend most of your workday sitting at a desk—but the less alert you are, the slower your reaction time. This can make you more prone to accidents in your home and place of business as well as behind the wheel of your car. The National Highway Traffic Safety Administration has conservatively estimated that driver fatigue causes 100,000 police-reported crashes every year, resulting in 1,550 deaths and 71,000 injuries.
Poor sleep also impairs your memory and cognitive ability. Research cited by the National Sleep Foundation found that loss of less than a half night’s sleep can alter the normal behavior of brain cells, negatively impacting your ability to think and process information. When you’re tired, you’re less able to focus, missing fine details and putting information together incorrectly as a result. Depending on your occupation, this can lead to life-threatening errors at work.
Sleep deprivation can put a strain on your home life as well. If your partner’s habits (snoring, tossing and turning) are causing you to lose sleep, it can add stress to your relationship. And when you’re tired, you’re less likely to feel like doing usually fun things such as playing with your children, going to the movies with friends, or exercising.
Long-Term Dangers of Poor Sleep
While a single restless night can certainly wreak havoc on your day, chronic insufficient sleep can have serious long-term consequences. These include increasing your risks of developing high blood pressure, heart failure, and obesity as well as having a heart attack or stroke. Lack of sleep can also lead to psychiatric problems such as depression and attention deficit disorder.
According to WebMD, numerous studies have shown an increased mortality risk for adults who report sleeping less than six or seven hours each night. One study even discovered that lack of sleep increases mortality risk more than smoking, high blood pressure or heart disease does.
What You Can Do
The American Sleep Disorders Association recognizes more than 85 sleep disorders—ranging from insomnia to sleep apnea—that affect more than 70 million people. Unfortunately, most cases remain undiagnosed and untreated. If you believe you are suffering from chronic sleep deprivation, talk to your doctor. And if you suffer from even the occasional night of low-quality sleep, you may want to speak with your auto insurance agent about increasing your coverage. According to the National Sleep Foundation, courts have awarded crash victim families multi-million dollar settlements in the past as a result of drowsy driving lawsuits.
by onlinefinancialnewsletters | Oct 9, 2014 | Personal Protection
Do you own a home? If so, you probably pay for homeowners insurance. It’s likely your mortgage lender required you to show proof of coverage before you closed on your loan. And if you’re among the lucky Americans who own their homes outright, you may still have insurance to protect your investment in case of damage caused by fire and wind, property theft or liability lawsuits. You may even be aware that you can cut your premiums by installing and maintaining smoke detectors and security systems as well as insuring your vehicles through the same company. But do you know about the many other credits available to reduce the costs of homeowners insurance?
Gated Community Credit: According to Bankrate, if you own a home within a gated community, you may be able to shave 5 percent to 20 percent off your premium. The discount falls under loss mitigation, as the extra security of such a location makes your property a less attractive burglary target.
New Wiring Credit: According to the National Fire Protection Association (NFPA), electrical failures and malfunctions contributed to an estimated 47,700 home fires in 2011—causing $1.4 billion in direct property damage. If you’ve purchased an older home, you may qualify for a 10 percent credit on your insurance premium if you replace the wiring.
Impact-Resistant Roofing Credit: The average roof takes a beating in the form of rain, hail and wind, and damage caused by compromised roofing can lead to significant home insurance claims. As a result, many insurers offer homeowners a 5 percent to 10 percent discount on premiums if they upgrade to an impact-resistant roofing material (such as Class 4 impact-resistant UL 2218).
Claims-Free Credit: According to Bankrate, if you’ve gone a decade without filing a claim, your insurer may be willing to knock as much as 20 percent off the annual cost of your coverage. If you’ve been with the same company for years but have had a claim or two in the past, you may still qualify for a long-term customer discount.
New Home/Home Renovation Credit: Buy a brand new property and you could score an insurance premium that is as much as 25 percent less than that required for a comparable previously owned home. You can earn the same discount if you renovate an older property. However, check with your insurance agent for suggestions on maximizing credits before you begin.
Non-Smoker Credit: Data compiled by the NFPA shows that smoking caused an estimated 17,600 home structure files in 2011. These fires resulted in 490 civilian deaths, 1,370 civilian injuries and $516 million in direct property damage. While insurers generally raise their rates if there is a smoker in the household, many will also give you a 5 percent to 15 percent discount if you keep your home smokeless.
Retiree Credit: Retired homeowners tend to spend more time at home, and this means they are more likely to be able to prevent an emergency—such as a gas leak or broken pipe—from becoming a disaster. According to Bankrate, if your household includes an adult who is 55 years or older and retired, you may qualify for a discount of 10 percent to 25 percent.
Homeowners insurance costs vary based on many factors including your location and the coverage you select. Contact your agent today to review your policy and learn if you qualify for any of these cost-reducing credits.
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