What the experts say
Who pays for tree damage?
If your tree falls on a neighbor’s property, whose insurance pays for the damage? asked Kimberly Lankford in Kiplinger.com. In most cases, it’s your neighbor who files the insurance claim. Homeowner’s insurance should cover any damage to the house or other structures, while comprehensive auto insurance should pay for repairs on any vehicles. “However, if your neighbor can prove that you were negligent—if, for example, he had sent you a letter asking you to remove a dead tree that an arborist had determined posed a safety hazard—he may try to get you to pay for the damage.” If you own your home, it’s a good idea to have an arborist conduct a tree survey every year so you can deal with any problem trees before they fall over.
Considering travel insurance
“If you’re spending big for a vacation this summer, it’s worth weighing another purchase: travel insurance,” said Kelli B. Grant in CNBC.com. Before buying, add up the change and cancellation fees for your various travel arrangements and activities, like flights and theme park tickets. “If that total is more than you’re willing or able to lose, then travel insurance is worth a closer look.” A namedexclusion policy covers a “limited range of events and scenarios” and usually runs 5 to 7 percent of the cost of your trip. Cancel-forany- reason coverage is just that, and usually costs 8 to 10 percent. You may also want to consider insurance with medical coverage if you’re headed abroad, or to a remote area where getting to a hospital would require evacuation. Also remember: Many credit cards offer some form of insurance on travel arrangements purchased with the card.
Doing a midyear financial review
June is an “ideal time” for a comprehensive financial checkup, said Kimmie Greene in USNews.com. Start by taking a look at all of your fixed and discretionary spending. “Check out a budgeting app to begin tracking expenses,” if you aren’t using one already. Then, move on to savings. “All too often, savings are considered to be whatever is left over after bills and expenses are paid.” But it’s better to have a deliberate pla n that addresses small and large goals. “Midyear is also a great time to check in and make any changes to optimize investment returns.” Finally, do “some soul-searching on income.” If you’re not making enough to cover expenses, it might be time to start a side hustle. “Even a garage sale may go a long way.”