Have You Checked Your Insurance Coverage Lately?

15InsuranceCoverageInsurance. The word alone is enough to put most people into a deep sleep. Because reviewing your current insurance coverage isn’t your idea of a fun Saturday night, you may be missing out on saving money in premiums or worse yet – you might be missing coverage that you’d need in the event of a claims situation. Capitol Agency, the Insurance Arm of Capitol Federal®, has some helpful tips for you to remember when reviewing the coverage you have, the questions you should ask your current carrier, and when it’s time to shop around.  The highlighted link will take you off the Capitol Federal Savings Bank website. Capitol Federal Savings Bank is not responsible for the contents of the site or any further links from such site. Capitol Federal Savings Bank is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement of the linked site by Capitol Federal Savings Bank.

How often should I review my insurance coverage?

A good rule of thumb for a thorough review of your policies is once a year – ideally a month or so before your renewal date. Keep an eye on such items as changes in coverages, deductibles and premiums, and don’t be afraid to ask specific questions about these changes.

Besides my annual review, are there other times I should visit my agent to review my policies?

There are certain life events that should trigger you to review your current coverage. Below are a few examples:

      • Marriage or divorce
      • A child or grandchild who is born or adopted
      • Significant changes in your health or that of your spouse/domestic partner
      • Taking on the financial responsibility of an aging parent
      • Purchasing a new home, auto or valuable item
      • A loved one who requires long-term care
      • Refinancing your home
      • Coming into an inheritance

Making your agent aware of these major events will trigger important conversations about your coverages and help safeguard against any surprises in a claims situation.

My home/auto policy just went up $100, and I haven’t done anything to deserve it!

Sometimes when we open our renewal bills, we discover an increase that’s not triggered by any of the usual suspects: claims, tickets, accidents, the addition of a teen driver, etc. Insurance companies take rate increases as they incur losses in certain areas – Kansas and Missouri, for example, have a high wind and hail loss history – this can drive up premiums for everyone, regardless of whether or not you’ve had this type of claim. This is when having an independent insurance agent comes in handy. They are able to shop your coverage with multiple companies, so you don’t have to find a brand new person with whom to trust your most valuable assets.

Have any additional questions? Contact Capitol Agency at 1-800-222-7312, and ask to speak with a representative, or email capitolagency@capfed.comThe highlighted link will take you off the Capitol Federal Savings Bank website. Capitol Federal Savings Bank is not responsible for the contents of the site or any further links from such site. Capitol Federal Savings Bank is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement of the linked site by Capitol Federal Savings Bank.

Money Tips for Traveling Abroad

16OverseasMoneyTipsTraveling overseas this year? Switching from dollars to a foreign currency can be confusing and also costly, if you don’t plan ahead. Kiplinger’s offers some tips for avoiding unnecessary fees and getting the most for your money on your next trip abroad. The highlighted link will take you off the Capitol Federal Savings Bank website. Capitol Federal Savings Bank is not responsible for the contents of the site or any further links from such site. Capitol Federal Savings Bank is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement of the linked site by Capitol Federal Savings Bank.

  • Bring a credit card to get the best exchange rates; if possible, use a card that has an embedded chip, as many foreign countries require them to use automated machines at train stations and gas stations.
  • If a merchant offers to let you pay in U.S. dollars, opt for the local currency to avoid having a “dynamic currency conversion” fee added to your purchase.
  • If you want to have cash on hand during your trip, wait until arriving at your destination to visit an ATM and avoid currency exchange fees; however, be aware that some banks will charge withdrawal fees when using an out-of-network ATM.
  • Use your bank card to withdraw cash at an ATM rather than a credit card; most credit cards will consider an ATM withdrawal a cash advance and charge interest.

Here are some additional tips for Capitol Federal® customers who are planning to use their True Blue® Direct Debit Card overseas:

  • Prior to a trip, notify customer service of the dates you’ll be traveling and the countries you plan to visit.
  • Capitol Federal does not charge any additional fees for currency conversion when using a True Blue Direct Debit Card. We only pass through the one percent fee from Visa®.
  • Capitol Federal will begin issuing cards with the newer chip technology in late 2015.
  • When using an ATM, be aware of your surroundings and don’t rely upon any local “good Samaritan” to assist you, or you may find yourself the victim of fraudulent transactions.

Do you have additional tips for keeping your money safe while traveling abroad Share them here!

5 Apps for Monitoring Financial Health

14FinancialAppsWWIIt seems like there are mobile apps for just about everything nowadays. From finding recipes to stargazing, there’s an app for that. Managing finances is no exception, which is why mobile devices have become useful tools for tracking your money.

Here are just a few apps that can help you stay on top of your finances and make those money goals a reality:

Level Money
If you find budgeting a tedious and boring task, this may be the app for you. Level bills itself as a financial GPS; by linking to your bank and credit card accounts and tracking recurring bill payments, the app delivers real-time updates on your cash flow to help you monitor your spending limits. The highlighted link will take you off the Capitol Federal Savings Bank website. Capitol Federal Savings Bank is not responsible for the contents of the site or any further links from such site. Capitol Federal Savings Bank is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement of the linked site by Capitol Federal Savings Bank.

StickK
Sometimes we all need some extra motivation to help us reach financial goals. That’s where StickK comes in. Tell the app your goal, such as paying off a credit card or saving for a dream vacation. Then, set up a “commitment contract” to give yourself that extra incentive to achieve your goal. The highlighted link will take you off the Capitol Federal Savings Bank website. Capitol Federal Savings Bank is not responsible for the contents of the site or any further links from such site. Capitol Federal Savings Bank is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement of the linked site by Capitol Federal Savings Bank.

Mint Personal Finance
Mint is one of the most popular online financial tools for a good reason. In addition to allowing you to monitor all of your account balances in one convenient location, the app also offers tools to help you plan a personal budget, categorize purchases, so you can see where your money is going, and set goals with regular progress reports to keep you on track. The highlighted link will take you off the Capitol Federal Savings Bank website. Capitol Federal Savings Bank is not responsible for the contents of the site or any further links from such site. Capitol Federal Savings Bank is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement of the linked site by Capitol Federal Savings Bank.

Spendee
If you’re looking for a money management app that doesn’t link to your personal accounts, Spendee may be a good option. Users can enter basic information about purchases and bill payments, and the app will create reports to keep you up-to-date on where your money is going. The highlighted link will take you off the Capitol Federal Savings Bank website. Capitol Federal Savings Bank is not responsible for the contents of the site or any further links from such site. Capitol Federal Savings Bank is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement of the linked site by Capitol Federal Savings Bank.

Budget Boss
If a simple budgeting app is more your style, Budget Boss may be your answer. This app skips all the account balance tracking features and focuses solely on helping you develop a spending plan. Just enter your income and expenses, and this tool goes to work helping you plan how much money should go where. The highlighted link will take you off the Capitol Federal Savings Bank website. Capitol Federal Savings Bank is not responsible for the contents of the site or any further links from such site. Capitol Federal Savings Bank is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement of the linked site by Capitol Federal Savings Bank.

Don’t forget to check with your financial institution. Many banks, including Capitol Federal®, offer online banking apps. CapFed® customers can do their banking right from a mobile device with the True Blue Online® app. The app’s secure, encrypted access lets you make transfers, pay bills, deposit checks and find nearby branches and ATMs from anywhere.

Do you have a favorite financial management app that’s not on our list? Tell us about it here!