Insurance
Protect Your Home Like Family: Smart Budgeting Tips
Why Budgeting Matters Owning a home is exciting. It feels like a big milestone, whether you’re getting ready to buy or you’ve already got the keys. But here’s the truth—homeownership is more than just a monthly mortgage. If you don’t plan ahead, extra costs like rising insurance rates or a busted water heater can sneak up and mess with your budget. The good news? With a little planning, you can stay ahead of those expenses and actually enjoy your home without constant money stress. Working with a good mortgage lender also adds value by helping you understand the full cost picture—mortgage, taxes, and insurance—so you can set a realistic budget from the start. What Insurance Really Costs Homeowners insurance isn’t optional—it’s protection. It covers you if your house is damaged by fire, storms, or theft. But the cost isn’t the same for everyone. It depends on where you live, the age of your home, and even what materials it’s built from. (RELATED NEWS: 1 in 3 U.S. Drivers Lack Enough Car Insurance, Study Warns) If you’re looking to buy, get an insurance quote early so you know what to expect. If you already own, don’t just auto-renew every year—check your coverage and see if you can get a better rate. Bundling with car insurance or adding safety features could lower your premium. Either way, you’ll want to make sure your coverage grows as your home’s value goes up. It’s also essential to add extra coverage for your valuable items. Investopedia says: “If you own a lot of high-priced possessions (fine art or antiques, fine jewelry, designer clothes), you might want to pay extra to put them on an itemized schedule, purchase a rider to cover them, or even buy a separate policy.” Don’t Forget About Taxes Property taxes aren’t always front of mind when you’re excited about a new home, but they’re a real part of the budget. They can go up as your home’s value rises or as local governments adjust rates. (RELATED NEWS: Skipping Coverage: The New Trend Among Young Adults) For buyers, don’t just look at today’s number—plan for increases. For current owners, check past trends in your area so you’re not blindsided when the bill lands in your mailbox. Have tax debt? We can help! Repairs and Maintenance: The Sneaky Costs Here’s the part of budgeting that no one loves to talk about: repairs. Every house has them. Appliances wear out, roofs leak, air conditioners quit in the middle of summer. Experts say to set aside 1–3% of your home’s value every year for maintenance and repairs. On a $200,000 house, that’s $2,000–$6,000. If you’re buying, factor that into your budget right now. If you already own, start putting money into a good interest-bearing bank account for future repairs. Even small amounts add up and make life easier when the unexpected happens. Best-case scenario, you won’t use it, and that money will continue to grow. Upgrade your windows today! Everyday Costs You Might Miss It’s not just the big stuff. Utilities, internet, trash pickup, lawn care, and snow removal (depending on where you live) all add up. And if you’re in a neighborhood with a homeowners association, expect monthly or yearly dues. Those dues may cover landscaping or amenities, but they can go up over time. Buyers should ask about these costs upfront, and current homeowners should review them every year. Why Savings Matter So Much Every homeowner needs two safety nets. First, an emergency fund—3 to 6 months of living expenses set aside for life’s curveballs like job loss or medical bills. Second, a repair fund just for the house. That way, when the water heater goes, you’re not draining your emergency money. If you’re new to saving, don’t stress. Start small, stay consistent, and build from there. Choose a bank with low or no fees and accounts that earn interest—you’ll be glad you did in the long run. Where a Home Warranty Can Help Even with savings, big repairs sting. That’s why a lot of people add a home warranty. It’s a service plan that helps cover major appliances and systems when they break down. If you’re buying, it can give you peace of mind while you settle into your new place. If you already own, adding one now could still help you handle surprise repairs without wiping out your family budget. Just make sure you know what’s covered and what’s not. Simple Steps to Build Your Budget List your monthly income and fixed expenses. Estimate your mortgage (or current payment), plus taxes and insurance. Add utilities, HOA dues, and a repair fund (1–3% of the home’s value). Factor in savings for emergencies and long-term repairs. Check the numbers. If your housing costs eat up more than 30–35% of your income, look for ways to adjust. Keeping It Stress-Free Want to keep your budget in check? Track your spending for a few months to see where your money really goes. Assume costs like insurance and taxes will rise over time. Automate your savings so you don’t have to think about it. And keep up with routine maintenance—it’s cheaper to service your HVAC once a year than replace it years too soon. Protect Your Home Like Family Buying or owning a home doesn’t have to mean sleepless nights worrying about money. With smart budgeting, you can cover the basics—mortgage, insurance, taxes, and utilities—and still prepare for the unexpected. A home warranty gives you that extra safety net, stepping in when appliances or systems fail and saving you from draining your savings on a single repair. Your home is more than walls and a roof—it protects your family, your memories, and your future. Treat it like a member of the family. Plan ahead, save consistently, and add the protection of a warranty. When you do, you give your home the same care it gives you—keeping it strong, dependable, and a place where you can truly rest easy. Protect your home like it protects you. Forget the narrative….
1 in 3 U.S. Drivers Lack Enough Car Insurance, Study Warns
Imagine getting into a fender-bender on the way to work, only to discover the other driver is uninsured. Suddenly, you’re not just late for a meeting, you’re staring down thousands of dollars in bills. Replacing a bumper today costs more than some used cars did a decade ago. And a single ER visit can run higher than your monthly mortgage. That’s why the latest study showing one in three drivers lack enough insurance should make everyone pay attention. A 2025 report from the Insurance Research Council (IRC) reveals that more than one in three drivers in the United States were either uninsured or underinsured in 2023. The study, Uninsured and Underinsured Motorists: 2017–2023, shows the combined rate climbed to 33.4 percent, a sharp increase from 23.8 percent in 2017. This growing problem highlights the financial risks drivers face every time they get behind the wheel. Breaking Down the Numbers The IRC study provides a clear picture of how widespread the problem has become: 15.4 percent of drivers in 2023 carried no auto insurance at all. 18.0 percent of drivers carried insurance that failed to fully cover the costs of a serious accident. Together, uninsured and underinsured drivers accounted for more than one in three motorists nationwide. The report explains, “Uninsured motorist and Underinsured motorist claim frequencies increased at faster rates than Bodily Injury claim frequency, leading to a sharp increase in the combined rate of uninsured and underinsured motorists.” In other words, accidents are costing more, and too many policies are falling short. (RELATED NEWS: Skipping Coverage: The New Trend Among Young Adults) State-by-State Differences The risk is not evenly spread across the country. According to the IRC, “Uninsured motorist rates varied dramatically by state in 2023, ranging from a low of 5.7 percent in Maine to a high of 28.2 percent in Mississippi.” Insurance Information Institute reports: New Mexico had an uninsured rate of 24.1 percent, while the District of Columbia followed with 23.1 percent. On the lower end, Utah posted 6.2 percent, and Idaho recorded 6.4 percent. Underinsured motorist rates climbed in nearly every state between 2017 and 2023, with the only exceptions being New York and the District of Columbia. This means drivers in certain regions face a much greater chance of being hit by someone without adequate insurance. Why the Numbers Are Rising Coverage reflects economic and legal factors at the time. The report notes that “UM rates rose in nearly every state from 2019 to 2020,” showing the strain of the pandemic on household budgets. Even as the economy improved, rates did not return to pre-pandemic levels. Rising medical and repair costs push up claim amounts, and when policies fail to keep pace, the gap between coverage and actual costs grows wider. Many states also set low minimum coverage requirements. Florida, for example, is the lowest in the country. The state only requires $10,000 property damage liability. These minimums are not enough to cover the expenses of a modern accident, leaving even insured drivers underinsured when serious injuries or major property damage occur. The Risks for Fully Insured Drivers Drivers who carry good insurance may think they are safe, but the study underscores the risk for everyone. If an uninsured or underinsured driver causes a crash, the other party often has to rely on their own coverage to pay for damages. Without uninsured or underinsured motorist protection, victims may face overwhelming medical bills, repair costs, and lost income. The IRC warns that higher underinsured motorist rates can also “worsen affordability” for everyone, since insurers spread the rising costs across all policyholders. This means responsible drivers end up paying higher premiums as the pool of underinsured drivers grows. (MORE NEWS: United CEO Scott Kirby Says Spirit Airlines Will Collapse) How Drivers Can Protect Themselves The study makes it clear that every driver should take a closer look at their own coverage. Practical steps include: Review your policy to confirm you carry uninsured and underinsured motorist coverage. Raise liability limits above state minimums to guard against lawsuits and high-cost accidents. Consider collision and comprehensive coverage if your vehicle is valuable or still financed. Shop around for competitive rates, look for discounts, and adjust deductibles to keep premiums manageable. Taking these measures ensures you are not left exposed when facing an at-fault driver who lacks enough insurance. Final Word The IRC’s findings send a clear warning: Drivers are often unprepared for tragedy. They take risks—not only with their own health and property, but everyone else’s too. They also leave themselves open to lawsuits if they are not full covered. One mistake by an uninsured driver, or one decision to carry too little coverage, can alter the course of your life. We’re all just one accident away from a financial mess. Don’t let someone else’s mistake ruin your life. Review your policy today, raise your limits if needed, and give yourself the peace of mind you deserve. Forget the narrative. Reject the script. Share what matters. At The Modern Memo, we call it like it is — no filter, no apology, no corporate leash. If you’re tired of being lied to, manipulated, or ignored, amplify the truth. One share at a time, we dismantle the media machine — with facts, boldness, and zero fear. Stand with us. Speak louder.
Skipping Coverage: The New Trend Among Young Adults
Today, many millennials and members of Gen Z postpone major life events like marriage and parenthood. This trend shapes how they view long-term protections. The recent Capgemini-LIMRA World Life Insurance Report 2026 shows that people under 40 no longer see marriage or kids as immediate priorities. As a result, young adults often skip (or delay) buying life insurance coverage that used to follow those milestones. For example, the report finds that about 63% of under-40s have no immediate plans for marriage. At the same time, as many as 84% of both single and married people in that age group say they do not plan to have a child right away. As a result, fewer babies are being born, and our population is getting older. Why They Skip Life Insurance Even though young adults largely believe life insurance is essential (about 68% do), many feel current policies do not match what they want right now. Several reasons stand out: 32% think life insurance coverage misaligns with their stage in life 28% say premiums cost too much 25% cite lack of immediate benefits Young adults want what the report calls “living benefits.” These include things like emergency financial help, wellness rewards, or coverage for fertility treatments. They want policies that provide value now, not just in case of death. (MORE NEWS: United CEO Scott Kirby Says Spirit Airlines Will Collapse) Samantha Chow, Global Leader for Life Insurance, Annuities and Benefits Sector at Capgemini weighed in: “As the next generation accumulates wealth and pursues a less traditional life path, their expectations around financial protection are evolving. The life insurance industry cannot rely solely on traditional death protection to sustain its future. Life insurers need to demonstrate value to include near-term gratification — delivering tangible benefits that customers can access during their lifetime. Fortunately, life insurers can bridge this gap by deploying innovative products and articulating their value in ways that resonate with tomorrow’s policyholders.” Industry Response & Challenges The life insurance industry recognizes this shift. Leaders point to delayed milestones, aging populations, and ongoing economic uncertainty as key forces shaping the market. However, the sector faces obstacles: Many policy processes remain confusing. People complain about complex wording and hard-to-understand terms Fewer policies offer features that appeal to younger adults Insurers lag in technology: under-40 consumers want digital engagement and data-driven recommendations, but only a minority of insurers deliver those For example, while more than half of younger adults want direct digital interaction, less than one-third of insurers provide suitable platforms. Most expect strong data-driven guidance, yet only a fraction of insurers offer it at scale. Bryan Hodgens, Senior Vice President and Head of LIMRA Research, said this: “Carriers need a different playbook when marketing life insurance to the younger generations. Our joint research shows that the price misconceptions, coupled with competing financial priorities, positions life insurance at a disadvantage with younger adults. Carriers must not only demonstrate the accessibility and affordability of life insurance but also need to reimagine the product to address younger adults’ current financial priorities while adapting to meet their future financial goals as they age.” What Young Adults Do Value Even as they delay marriage and kids, young adults still want financial protection that feels useful today. Instead of policies that only pay out after death, they are asking for benefits they can tap into during their lifetime. (MORE NEWS: AI Is Taking Entry-Level Jobs and Shaking Up the Workforce) According to new research, the top three “living benefits” under-40s want are: Cash withdrawal for life events: 54% of U.S. respondents and 48% globally rank this as their number one priority. They want flexibility to access funds when life happens—whether that’s moving, education, or unexpected expenses. Health and wellness benefits: 35% in the U.S. and 41% globally want policies that reward healthy living or help offset medical costs. Critical and terminal illness coverage: 38% in the U.S. and 39% globally value this type of protection, which provides financial support during some of the hardest seasons of life. This shows that younger generations are not rejecting life insurance altogether. They simply expect it to look different—more practical, more flexible, and more relevant to their current lifestyle. Opportunities for Insurers Given these shifts, insurers have several paths forward to regain relevance with millennials and Gen Z: Innovate product design – Create flexible policies with living-benefits built in. Simplify underwriting. Include perks they care about now Improve clarity and access – Use clear language. Remove confusing terms. Make policies easy to understand and buy Leverage technology – Offer digital platforms. Use data to recommend relevant options. Make processes fast Partner with other services – Teams in wellness, fertility, or employer benefits could enhance coverage. Embed value into everyday life These changes not only respond to smaller uptake now, but also help avoid larger protection gaps later. Insurers who adapt early may build loyalty with younger customers. What This Means Going Forward Life milestones aren’t what they used to be, and that means life insurance has to change too. Instead of pushing policies tied to marriage or kids, insurers need to focus on what young adults are actually dealing with today—like student loans, debt management, wellness goals, and the desire for benefits they can use right now. If insurers get it right, they’ll create policies that make sense at every stage of life. If they don’t, many millennials and Gen Z will keep skipping coverage and risk being left unprotected. The big picture is clear: financial products have to keep up with changing lifestyles. The gap between what’s being offered and what younger generations actually want is too wide to ignore. Young people aren’t against financial protection—they just want it to feel relevant. The insurers who win will be the ones who deliver flexible, transparent, and digital-first policies that provide real value both today and down the road. Forget the narrative. Reject the script. Share what matters. At The Modern Memo, we call it like it is — no filter, no apology, no corporate…
Insurance Drones: Hidden Home Inspections Spark Backlash
Insurers now use drones to inspect homes. Homeowners often don’t know until they get a notice from the insurance company. This shift is raising alarm. It affects coverage and threatens trust. Privacy Concerns for Homeowners Many policyholders feel surprised. They receive aerial photos that often come without explanation. Many people are calling it invasive. For example, Lynne Schueler of Massachusetts woke one morning. She found an email with a photo showing overhanging branches. It came with a six-week deadline to trim the tree or risk losing her coverage. She had no claims in twelve years. Still, she paid $1,200 to trim the branches because she had to keep her insurance. She was also concerned about the privacy aspect: “It was very invasive, because they had taken a picture of my house without me knowing, which was really kind of crazy… They were cancelling my insurance. They had showed a drone coming over the house at some point and there was some tree branches hovering over my house that they wanted removed. I wasn’t home because my car wasn’t in the driveway.” Insurance companies are now using drones to secretly fly over and photograph the homes they insure without the homeowners knowing. The images are then fed into AI systems that flag potential risks or maintenance issues. People are suddenly losing coverage after being told, “We… pic.twitter.com/DXYnsW1zyT — Shadow of Ezra (@ShadowofEzra) August 25, 2025 How Insurers Use Drone Data The use of drones is growing fast. Insurers use aerial images to flag mold, roof damage, or debris. They rely on algorithms and AI to analyze what they see. (MORE NEWS: Popular Amazon Prime Program Ending Oct. 1) Critics call this surveillance. They worry about errors. Sometimes data is outdated or flawed. Mike Arman in Florida learned this the hard way. His insurer flagged his roof as being in a state of deterioration. The image looked ancient—like a satellite photo from 1936. He had no claims in 52 years, yet the company refused an in-person inspection. They dropped him anyway. That is not rare. In California, a homeowner claimed her insurer canceled her after drone images captured yard clutter. She had been insured with them for 40 years. The insurer denied using drones, but used aerial imagery. The homeowner requested the images but never got them. These stories show a troubling pattern. Homeowners feel blindsided, while insurers defend efficiency. Trust erodes in the middle. Lawmakers Begin to Push Back This trend is getting attention from lawmakers, and regulatory responses are emerging. In Massachusetts, State Representative David LeBoeuf introduced Bill H.1242, which would hold insurance companies to a higher standard, allowing homeowners to file appeals and fix the issues. He says the bill: “Gives you the right, if your homeowner’s insurance policy is not renewed because of the use of an aerial image, to actually see that image, know when it was taken, to have the defects identified, and to create an appeals and cure process.” In California, lawmakers also acted. They want insurers to notify policyholders BEFORE using aerial images. They must also show the images afterward. Still, critics argue that these measures are insufficient. Consumer groups argue for stronger rules. They suggest insurers automatically send date-stamped photos and allow corrections, reducing unfair cancellations. Why Insurers Defend Drone Use Why are insurers doing this? The answer is efficiency. Drones and satellites enable insurers to inspect homes quickly. They can monitor thousands of properties on a tight budget. They argue this keeps premiums lower for everyone. (MORE NEWS: “Rich Dad, Poor Dad” by Robert Kiyosaki: A Book Review) Plus, after disasters, aerial data is critical. Drones can assess damage safely when it’s unsafe for humans. Insurers say this speeds recovery. But privacy advocates push back. They warn of false flags. Debris might look like damage. Shadows might mimic cracks. Yet homeowners may not have the opportunity to contest those errors. What Homeowners Can Do So, what can homeowners do? Here are some suggestions to protect your home: Maintain your property well Trim branches Remove debris Keep the roof clean Fix visible issues quickly Power wash areas to keep the exterior of your home clean Document your upkeep Take date-stamped photos Save receipts Stay ready to show proof Contact your agent proactively to ask questions Ask if aerial inspections are used Find out what flags to watch for If you get a nonrenewal notice, ask to see the image and demand to know the date and what triggered the alert. Request a chance to correct any issues. Finally, check your state laws. Many states require advance notice before cancellation and may also require justification. You may have a right to appeal. It is your responsibility to ask questions and maintain your home. The Future of Drone Surveillance in Insurance In short, the use of drones in insurance is a trend that is unlikely to end anytime soon. They boost efficiency, but they also pose risks if insurance companies remove the human element from decision-making. They may threaten coverage without warning. Homeowners need transparency and protection from unfair practices. Lawmakers and regulators are slowly responding, but that process can take time. That is why privacy laws in your state matter. Strong rules can protect homeowners from sudden cancellations. They can force insurers to share images, prove accuracy, and allow an appeal. Pushing for privacy laws at the state level gives homeowners a shield. It keeps insurers accountable. It ensures aerial technology does not replace fairness. To stay covered, stay alert. Maintain your home and know your rights. Keep records, ask questions, and press for stronger privacy protections. The drone trend may grow, but strong laws can keep it from taking away your peace of mind. Forget the narrative. Reject the script. Share what matters. At The Modern Memo, we call it like it is — no filter, no apology, no corporate leash. If you’re tired of being lied to, manipulated, or ignored, amplify the truth. One share at a time, we dismantle the media machine…