Archive | September, 2010

Special Seminar on Taxes 2010

Romero & Levin Wealth Management will be teaming up with the Lively Law Group for a special event, titled “Politics and Taxes 2010: Strategies to Plan For.” Find out about:

  • Investing in a rising tax environment
  • Using your RMD to pass your IRA income TAX FREE to your beneficiaries
  • Why NOW may be the time to convert your IRA to a ROTH
  • Estate planning for 2011
  • And much more

This seminar combines the expertise of Daniel S. Romero, CFP®, AIF®, CFS, a certified financial planner; Melissa Levin, CFP®, CFS, a life and disability insurance agent; Gregory Levin, CFP®, a health insurance agent; and Dan Lively, Esq., LL.M, CPA, one of Orange County’s top tax attorneys and estate planning attorney. This seminar is specifically aimed at those 59 1/2 and older, but all ages can benefit from the advice to be presented.

Seating is limited, so contact Johnna Iantorno at 714 547-8787 x 121 to register for one of the two following dates:

  • Tuesday, October 12, 2010— 7PM
    at Karl H. Romero & Associates, Inc.
    1585 E. 17th St
    Santa Ana, CA 92705
  • Wednesday, October 13, 2010— 7PM
    at Marcus & Millichap
    19800 MacArthur Blvd.
    Irvine, CA 92612

The team at BMR Insurance has worked with Romero & Levin Weath Management for almost a decade, and have referred many clients to them for excellent service. Dan Lively recently was named as one of the top five tax attorneys in Orange County, California, and we have nothing but respect for his abilities in tax law and estate planning.

Please feel free to contact us at BMR Insurance to discuss the event or any of the presenters. We’ll be happy to discuss their merits!

Click here for the SeminarFlyer!

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Understanding Your Homeowners’ Insurance: Part 1

Don’t wait until after an earthquake to find out if you’re covered or not!

By law, all homeowners or anyone who has a mortgage on a home need homeowners’ insurance. Proper homeowners’ insurance can provide necessary protection for your home, reimbursing you for any damages to your home or personal possessions.  But, most people don’t even look at their insurance policy after the initial purchase, and have no idea what their policy coverage entails until a freak accident happens, leaving them wondering if their insurance policy will cover  them.  Big mistake!  It is imperative that all homeowners understand their policy and know exactly what is covered and what is not, and to periodically review their policy to assess any changes that they might need to address.  BMR Insurance will help you cover the basics of homeowners’ insurance so that you will better understand your policy.

Know what your insurance policy covers: Typical homeowners’ insurance coverage includes damages caused by fire, water, storm (wind, lightning, etc), theft or vandalism.  Most people mistakenly assume that homeowners’ insurance will cover damages caused by earthquakes and flooding.  However, these two perils are not covered under a general homeowners’ insurance policy. If you live in an area prone to these types of natural disasters, consult your insurance provider to see if you will need to opt for an additional policy.  For example, in an area at risk for flooding, homeowners would have to purchase flood insurance through the National Flood Insurance Program.  Review your insurance policy with your agent and make sure you understand what your policy does and does not cover. Continue Reading →

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Mind the Gap: What’s Gap Insurance?

A car bought from a dealership always loses value immediately after purchase.

Have you bought a new car recently? Do you know someone who has? If so, were you offered gap insurance?

Most people haven’t even heard of this type of insurance, but it can be particularly valuable. Ever heard the joke about how you can hear the price of your new car drop as you leave the dealership’s forecourt? Well, it’s sad but true. When you buy a new car, the car loan is based on the dealership price, while the insurance is based on the value of the car’s actual worth.

So what does this mean in practical terms? Why is gap insurance so important? Here’s an example: say Janet purchases a car from the dealership for $30,000, and she borrows this amount from the bank. The following month, Janet gets in an accident, and the car is reduced to scrap metal—no point in fixing it. The insurance appraisal values the car at $27,000, and although the car was totaled, Janet still owes the bank $30,000, whether she can use the car or not. What happens to the $3,000 difference between the bank loan cost and the appraisal value? Since Janet purchase gap insurance, the remaining $3,000 is paid for by that policy. Continue Reading →

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8 Ways to Reduce Your Car Insurance Premiums

Don’t drive one of these if you want to lower your car insurance premiums.

Although BMR Insurance can get you great prices on your car insurance, we’re always looking at ways to save our customers even more money.

Have you checked your car insurance lately? We’re all looking for ways to economize, and this may be one of those places you didn’t think of looking. With our tips below, you might be able to save some money on your policy quickly and easily.

1. Request a higher deductible: Are you a safe driver? Rarely drive on the freeway? Think about raising your deductible—the amount of money you have to pay before your insurance policy kicks in to cover the cost of damages. By boosting your deductible, you can actually lower the cost of your collision and comprehensive coverage. Call us and we’ll walk you through it.
Reduce coverage you don’t need: Are you driving an older car? Saving for a new one? Think about changing your insurance that reflects the value of your car. In some states, like California, you’re required to have insurance so you can’t cancel it, but you can amend a policy to the worth of your car. Check out the market rate of your car on the Kelley Blue Book site or Edmunds.com. Continue Reading →

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