Rabu, 30 Juni 2010

Car Insurance, Save On Premiums!


Everyone has to agree to an excess of some kind when getting a car insurance policy – it's the way the system works. Basically it means that if you have an accident and your car needs to be repaired, you will have to pay a set amount towards the bill. If the accident is your fault, you lose the money. If the accident is not your fault, the third party insurer reimburses you for the excess payment. If your car is written off, then your insurance company will deduct your excess from the settlement payment.

Things aren't always that simple however, unfortunately there are a number of drivers on British roads that don't have any insurance, so the question is, what happens with your claim if you have an accident with an uninsured driver?

The 1988 Road Traffic Act, section 143 clearly states that all drivers on the UK roads must have insurance for the vehicle that they are driving. The point of the insurance is that if you have an accident and it is your fault, you have the means to cover the cost of the damage incurred by way of your insurance policy. It's a sad fact that a significant minority of drivers choose not to bother with insurance, disregarding UK law and saving themselves hundreds of pounds a year as a consequence. Someone has to pay for these drivers though, and it's the people that do have insurance that foot the bill!

The Department of Transport estimates that as many as 5% of drivers are not insured on the vehicle which they are driving. Statistics also show that uninsured drivers are more likely to be involved in an accident. It's a growing trend and is proving very difficult to eradicate.

If you have an accident, you are not at fault, and the third party is not insured, then you will be reimbursed by the Motor Insurers' Bureau. Who funds them? The car insurance industry! That's where some of your inflated premiums end up. You will also find that you'll have to pay the agreed excess yourself, there will be no-one able to refund that for you.

Here's the low-down on the basics about ‘excess':

Compulsory Excess – this is the amount that the insurance company regards as the minimum amount that you must pay towards the cost of damages . This is agreed at the outset and depends on a few details you're your age and your driving record. For example, if you are older and have a clean driving record, you could only have to pay a minimum of £50. Those with a more chequered driving history, or those that have not been driving for very long, could feasibly have to agree to pay £500. The average for most drivers is £100 .

Voluntary Excess – this is the amount over and above the minimum ‘compulsory' amount set by the insurer that you are prepared to pay. This is an opportunity to lower your premiums, because if you can agree to a high excess, then the insurance company knows it won't have to pay out as much if you need to make a claim. It's one of the few sure fire ways of saving a few pounds on a car insurance policy, but you may not be offered the choice, it depends on individual insurers.

The garage won't give my repaired car back until I give them a cheque for the excess – is this what usually happens?

This is completely normal, and you will have to pay and then get the money back from the third party insurer. Always give the car a good once over to ensure that the repairs have been satisfactorily completed. You also need to keep the receipt to get the excess back from the insurer, and just in case they dispute the charges, get a copy of the repair schedule so the insurer can see exactly what work was completed on your vehicle.


Selasa, 29 Juni 2010

Car Insurance: Types of Insurance You Need to Understand


With all this traveling in and out, back and forth around the maze that is the United States infrastructure, its easy to understand why auto insurance is required in order to own an operate a car. For car buyers, an effort needs to be made on the part of insurance companies to provide information on the different types of auto insurance available. These include bodily injury and liability, collision, comprehensive, full glace, liability, medical coverage, personal injury protection, and underinsured or uninsured motorist.

Liability insurance coverage is imperative to have as a driver. This insurance covers any injuries or damages to property that may occur during an accident. Two types of liability include bodily injury liability insurance and property damage liability insurance.

Medical insurance is different in that it focuses on the driver and passengers of the car. This will cover any medical treatment for the driver and the passengers. In addition, the medical insurance may or may not offer disability insurance and pain and suffering compensation.

Uninsured or under-insured drivers insurance will pay any costs that you or your passengers may experience if an accident should occur with a driver who is uninsured or underinsured.

Collision insurance deals with the cost of damage caused by a collision to your car that may affect the book value. Comprehensive deals more with damage caused by vandalism, natural disasters, theft or other kinds of damage.

There are several other types of car insurance. These include glass replacement insurance, towing insurance etc. These types of insurance are often not required and are not popular as they are often costly.

Now that you know what types of car insurance are out there, the next step is to find a credible insurance agent. The first place to investigate this is through family and friends. Referrals will help you sort those agents that you want to investigate further. You will want to speak with several different agents before you make your final decisions. Ask any and all questions you may have. That is what the agent is there for.


Senin, 28 Juni 2010

Car Insurance - How can you lower your premiums?


Many factors influence the premium for your Motor insurance policy. Your insurer will have asked you many questions whilst producing your quote - some of which will affect your premium and some will not. Below we discuss the key variables that are within the policyholder's control.

Consolidating policies

By insuring a number of vehicles with the same insurer, or by trying to take out home and life insurance through your car insurer, you may be able to secure a ‘bulk buy’ discount.

Location

A big influence on the cost of your car insurance is where you live. The chance of your car being broken into or stolen is a key concern for the insurer. More urban areas traditionally facing greater risk of theft and therefore tend to be more expensive than countryside locations.

Excess

By agreeing to pay a greater excess on each claim you can reduce your car insurance premiums. This is because you are reducing the liability of the insurer and therefore in return they are able to offer you a lower premium.

Your Vehicle

The cheaper and slower your vehicle the lower your premiums are likely to be. If you are looking to buy a new vehicle make sure you fully consider the cost of insurance – you may be able to buy the car but can you afford to run it?

Mileage

You can control your insurance premiums by restricting your annual mileage. However, be aware that if you exceed the restricted number of miles you'll then become uninsured!

Parking

Where you park your vehicle overnight is also very important to the insurers. If it is kept in a locked garage, you should be offered a lower premium than if you leave it unattended in the street.

Security

Security devices that prevent or hinder theft may also reduce your premium. Common examples include alarms and immobilisers, however, be aware that as we improve the quality of our security devices the thieves just become better at bypassing them.

No Claims Discount

Save up your no claims discount by avoiding making small claims upon your policy. After a set number of years, 4 or 5 typically, you'll often be offered the option to pay an additional small premium to protect your no claims bonus. This can prove very helpful if you subsequently end up having an accident.

Advanced driving skills

By taking an advanced driving course you may also be able to reduce your premiums. The Institute for Advanced Motorists and the Royal Society for Prevention of Accidents each offer membership which provides you with discounts for both the cost of driving courses and your car insurance premiums. Two key variables NOT within the policyholder's control.

Your Sex.

Women are statistically less likely to have an accident and, if they do, it's less likely to be serious. Because of these statistics women benefit from lower premiums. It is also worth noting that if you represent one half of a couple you should consider having the female as the primary driver with the male as the second driver.

Your Age

The older you are, the less likely you are to make a claim. As a result insurance companies charge lower premiums for more mature drivers.

One final piece of advice.

A large percentage of car insurance is now sold on the Internet. That's because it's convenient and cheap. Many insurers now give a further 10%-15% discount if you buy online.


Minggu, 27 Juni 2010

Car Insurance, Essential Information About Excess Payments


An excess payment is the fixed contribution you must pay each time your car is repaired through your car insurance policy. Normally the payment is made directly to the accident repair garage when you collect the car. If your car is declared to be a write off, your insurance company will deduct the excess agreed on the policy from the settlement payment it makes to you.

If the accident was the other drivers fault, and this is accepted by the third party's insurer, you'll be able to reclaim your excess payment from the other person's insurance company. But what if the other driver is uninsured?

All motorists know that it's a legal requirement (under Section 143 of the 1988 Road Traffic Act) to have insurance for any damage they cause to third parties. But still many drive without insurance. An estimate of the incidence of uninsured driving in the UK is hard to come by and, for the obvious reasons, those drivers involved in breaking the law have every reason to keep quiet about it.

Calculations from the Department of Transport suggest that in the UK around 5% of vehicles are being driven without valid insurance. This group of people not only impose costs on honest motorists in the form of higher premiums, but their presence on our roads also represents a serious risk to other road users. Consequently, uninsured driving is increasingly being regarded as a major social problem.

But driving without insurance is not a victimless crime. If you have an accident with an uninsured driver and the accident wasn't your fault, the repair costs will be paid for by the Motor Insurers' Bureau that's funded in its entirety by the industry, or by your insurer. Therefore, if you're involved in an accident caused by an uninsured driver you'll eventually get you car repaired but you'll still have to pay the excess and there'll be no one to reclaim your excess from.

What is a Compulsory Excess?

A compulsory excess is the minimum excess payment your insurer will accept on your insurance policy. Minimum excesses do vary according to your personal details and driving record and by insurance company. Today the average excess is around £100, but younger drivers could be faced with excesses of up to £500 - whilst more mature, experienced drivers with a good driving record, could be offered an excess of just £50.

So what is a Voluntary Excess?
In order to reduce your insurance premium, you may offer to pay a higher excess than the compulsory excess demanded by your insurance company. Your voluntary excess is the extra amount over and above the compulsory excess that you agree to pay in the event of a claim on the policy. As a bigger excess reduces the financial risk carried by your insurer, your insurer I able to offer you a significantly lower premium.

The garage has repaired my car but it won't release the car too me until I pay the policy excess to them. Is this right?

Yes, that is normal practice. But make sure you inspect the car when you collect it. Satisfy yourself that the repair is perfect. Then make sure you keep their receipt for your excess payment as you will need this if you're reclaiming against a third party's insurance. And just in case there's a dispute, it's a good idea to make sure the repair garage gives you a repair schedule. This will list all the repairs that were made to you car.


Sabtu, 26 Juni 2010

Car Insurance – What Is Liability And Collision Insurance?


You know full well that it’s the law, but you’ve been driving around without car insurance for a while now. Why? Car insurance is of supreme importance to any driver, no matter how good you think you are. Accidents happen, plain and simple, and you need to be protected in case it does. Not all car insurance is the same, though, and you may be a little confused as to the concepts.

The first term you need to know is liability car insurance. This covers you from claims arising from an accident where there’s bodily damage or damage to property. Generally, there are three main sections of any liability car insurance policy: bodily injury liability coverage, liability coverage for damage to property, and uninsured coverage. The first type of coverage protects you in the case of an accident, for which you are at fault, and others have been injured. Your liability car insurance company will pay any legitimate claims for medical expenses or lost wages. If you’ve run into someone’s wall, or the side of their house, you’ll need liability insurance for property damage, which will pay for repairs. In the instance where you are not necessarily at fault and the other driver does not have liability car insurance, you are protected by uninsured, or under-insured, motorist coverage.

Liability car insurance is not the same as collision car insurance. As you can see, nothing was mentioned about fixing your car in the above description. That’s because it’s not covered under a simple liability car insurance policy. You’ll need collision car insurance, unless you’re willing to pay out of your own pocket. Collision car insurance covers repairs to your car in the case of, you guessed it, a collision with another object. If you’re one of those people who gets their kicks by running over poor, defenseless animals, this coverage isn’t for you. You’ll need comprehensive car insurance to fix that cracked headlight.

Generally, you can choose you’re deductible rate, i.e., the amount that your car insurance company will pay out to repair your car. Typically, the higher the deductible, the lower the car insurance premium. You will definitely need collision car insurance if you are leasing a vehicle, if you own a fairly new car or if you are making payments to a finance company. Owners of much older cars may want to skip this form of car insurance altogether. If your car is totaled, the car insurance company will pay you that market value of your car, minus the value of your deductible. If you are able to absorb the cost of replacing your car yourself, you may want to forgo this.


Jumat, 25 Juni 2010

Reliable Life Insurance Company – Which Companies Are The Best?

The life insurance industry is a carefully regulated industry. Every state has its own insurance department to monitor the activity of insurers. You very rarely hear of life insurance companies that dissolve because of financial problems. Insurance companies have to prove financial strength to operate in most states. Insurance commissioners have the authority to approve or deny rate changes. There are consumer guides that are available to help you compare companies. The AM Best Company is the most reliable resource in the industry. You can visit AM Best online and you will find all the information that you need about financial strength and product information.

Life insurance companies distribute their products many different ways. The agent distribution system has been around a long time. The life insurance professional is a valuable resource for people that want an on going relationship with an agent. A lot of folks want the personal service that only an agent can provide. Life insurance can also be purchased through the mail. There are a number of companies that use direct mail as their distribution system.

Insurance companies are also offering life insurance online. This is convenient for most folks that love to use their computer to make purchases. The online purchase can also lead you to an agent. That can give you the best of both worlds. You can begin the process by getting a quote online and finish the purchase with an agent from a company of your choice. The company best for you would be the combination of the financial strength and whether or not you prefer to be serviced by an agent.

There is one more factor when selecting an insurance company. Do you want to purchase insurance from a stock company or a mutual company? Stock companies are owned by the stock holders while the mutual companies are technically owned by the policy holders. Mutual companies pay dividends. Stock companies do not. Compare the rates of a stock company with a mutual company first and then compare the rates of stock companies with stock companies and mutual companies with mutual companies.

Kamis, 24 Juni 2010

Car Insurance – Be assured for a safe drive


Shopping for car insurance is the only way to save on the car insurance. Car Insurance is the perfect solution for your problem on car theft, accidents etc. People are quite dependent on their vehicles and losing a vehicle by an accident or theft will be a financial loss. Moreover it will affect our day to day activities like office, school, doctor's appointment etc.

Benefits of Car Insurance Policy

Some insurance policies offer number of standard benefits, while other benefits are available as optional covers in return for an extra premium. Some of the more common Car insurance policy benefits are:
•    Windscreen
•    Driving other cars
•    Medical expenses
•    Personal effects
•    New car benefits
•    Lock replacement

Many auto insurance agencies offers you benefits like less premium, 70% discount on first-rate service (if our recommended garages have not repaired your car), free car servicing (if your car has been repaired by one of our recommended garages). They also provide you additional services like breakdown assistance and motoring protection at minimal price. A car insurance agency controls your car insurance policy from beginning to end.

Nowadays it’s easy to buy your auto insurance online. Online auto insurance is the best option if you want to save your money and time.

Additional Car Insurance policy services include

•    Motoring protection
This service pays for personal injuries that you have sustained from the accident and also we pay for injuries that others might have sustained. This service also covers for any kind of property loss. This service also handles any legal technicalities.
•    Breakdown assistance
This services provides assistance incase your car breakdown and more often than not at a worst possible time. Complete details of these services are available when you get your car insurance quote or renew your policy online.


Rabu, 23 Juni 2010

Car Insurance – How Did They Calculate That?


Insurance premiums are calculated according to several risk factors. These are the factors identified by the insurance company as most likely to have an impact on the insured against risk occurring. Insurance is a significant cost associated with the item insured and should not be rushed into. It is always a good idea to shop around for the best price available. Insurance premiums will vary considerably from insurer to insurer so do your homework.

<b>Shop Around</b>

Look up the various insurance companies you are interested in and ask them for a quote. They can usually give you a rough estimate fairly quickly and even more exact quotes should also be possible if you provide more details and wait. You should also look up insurers online and get instant quotes from their website. This is a very fast and effective way of shopping around. You will get a good idea of what prices to expect. You can also experiment with the quotation websites to see what effect it makes to your premium price if you select different options. With all insurance policies you will have a number of options that affect the price of the policy.

Therefore you should think about these options and if there are risks that you do not wish to cover then let the insurer know as your premium should become cheaper.

You should also try to make sure you do not double insure. It is a principle of insurance that you cannot benefit from the insured event’s occurrence. So you cannot get paid twice even if you have two insurance policies. So if a risk is already covered by one policy, again let your insurer know so they can remove it from their calculation.

<b>Factors</b>

Car insurance premiums usually depend on factors such as what kind of car you are driving, how old it is, how big the engine is, what make and model it is? What type of insurance you require also plays a part, do you need only liability, or also comprehensive? What use you will make of the car, for example will you commute to work and how many miles do you plan on driving?

<b>Your driving history will be a strong factor in determining your risk</b>, and linked to this will be the age of the driver, with younger drivers being significantly more at risk of being involved in an accident. If you are young, your sex will also be an important risk factor, however if you are older sex usually becomes less significant.


Selasa, 22 Juni 2010

Car Insurance – Protect Your Second Wife!


Auto insurance in general, which includes car insurance is an insurance consumers can purchase for cars, trucks, and other vehicles. It’s mainly meant to provide protection against losses incurred as a result of car accidents and also thefts of vehicle. It also includes losses arising due to natural calamities. To have your car insured is mandatory by law. When you insure you get a "policy" which is based on a variety of factors including the type of car you drive, as well as what kind of insurance you want, as these policies are actually a package of different types of insurance coverage. They can be classified as:

· Liability - This coverage pays for accidental physical injury of the body and damage to others’ property. Injury damages include medical expenses, pain or suffering and lost wages. Property damage includes damages to the automobile. This coverage also pays for defense and court costs. State laws fix how much liability coverage you must purchase, but you can also get more coverage if you wish.

· Collision - This insurance pays for damages to your vehicle caused by collision with another vehicle or object.

· Comprehensive - This coverage pays for losses or damages to the insured vehicle that doesn't occur in an auto accident. The possible types of damages comprehensive insurance covers include loss caused by fire, wind, hail, flood, vandalism or theft.

· Medical Coverage - Pays medical expenses regardless of whose fault it was as long as the expenses are caused by an auto accident.

· PIP - Personal Injury Protection (PIP) - This coverage pays medical expenses for the insured driver, regardless of whose fault it was, for treatment due to injuries arising in an auto accident.

· Uninsured Motorist - Pays for your car's damages when an auto accident is caused by another driver who doesn't have liability insurance.

· Underinsured Motorist – Pays for your car's damages when an auto accident is caused by someone who has insufficient liability insurance to settle all your claims.

· Rental Reimbursement - This type of insurance will pay for a rental car if your rented car is damaged due to an auto accident. Often this coverage has a daily allowance to be paid for at the time of renting a car.

Certain insurance policies club together a number of these types of coverage. Depending on the laws that exist in your state you have to choose the insurance you want for your car. Even though the state may not require extensive insurance, extra coverage may be worth the expense as it is possible that you may be straddled with thousands of dollars because of an auto accident.


Senin, 21 Juni 2010

Car Insurance. Uninsured Cars To Be Crushed


Are you one of the one in twenty motorists who regularly drive without insurance? You'd better watch out - your car could be heading for the crusher and shipped off to the world's biggest scrap smelter in China!

New powers now allow the police to seize, impound and crush any car found on the road without insurance. A pilot scheme was introduced in Durham last spring. Since then, police have impounded more than 1,200 cars. Of those around half have been crushed into cubes and packed off for smelting.

Operation Takeaway as the pilot scheme was known, has been such a big success, that police forces throughout the UK are enthusiastically polishing up their tow trucks. The scheme is now supported by a new national police database that's supported by the insurance industry. It enables the police to check the insurance status of every car in the UK whilst they're sitting in their patrol car.

Now if you're caught red handed without car insurance you're forced to hand your keys to the police at the roadside. There are no exceptions - this applies to everyone; it doesn't matter if it's just a forgetful mistake or conscious driving without insurance.

Then you'll have to get your skates on! You've just 14 days to produce a valid insurance policy to the police and collect your car. And other costs mount up. Before you can collect your car, you have to pay the cost of kerbside recovery (around £105) and the cost of secure storage - and that could easily amount to £15 a day. So, if you leave collecting your car to the 14th day, you could be in for a bill for £315.

And if you don't reclaim your car, off to the crusher it goes!

During the pilot scheme, the cost of crushing the cars was partly funded by Direct Line. They have estimated that Operation Takeaway prevented up to 2,000 accidents. And many of the cars impounded by the police were found to be un-roadworthy.

A police spokesman said, “ Uninsured drivers are often guilty of many other offences. Such as having neither driving licence nor MOT certificate. We are doing everything in our power to get these dangerous and illegal drivers off our roads”.

Indeed, uninsured drivers are much greater problem than many of us would expect. The Department of Transport recently reported that 1 in 20 motorists regularly drive without insurance. Furthermore, research from the Association of British Insurers discovered that uninsured drivers are amongst the most dangerous on the roads. On average they cause one accident every six months and are three times more likely to be convicted of driving without due care and attention.

And who pays for those uninsured accidents? We do! The average car insurance premium is loaded by £30 to cover the cost of damage caused by uninsured motorists. Across the UK that adds up to an extra £500 million paid out each year by the law-abiding motorists!

But that's not the end of our financial pain. If an uninsured vehicle collides into your car, it's still recorded as a “fault claim” on your policy. This means you'll have to pay the excess when your car is repaired and unless you've got Claims Protection on your policy, your no-claims bonus will take a knocking. Over a two-year period, the reduction in your no claims bonus could easily cost £275 in higher premiums.

The move to take cars off the road and crush them has been warmly welcomed by the Association of British Insurers. The ABI has long criticised the leniency of punishment handed out by the courts to uninsured motorists but they still want tougher penalties. Offenders are typically fined just £150 to £200 - with time to pay - and this is much less than the average car insurance premium. Surely this cannot be true justice!


Minggu, 20 Juni 2010

Car Insurance. Surf The Net For A Better Deal


Is it coming round to the time to renew your car insurance? Do you, like 23% of car owners, just accept the quote and stay with your insurer? Does it matter that the premium is 5 or 10 per cent more expensive than last years? Maybe it’s just not worth the hassle of all those phone calls to goodness knows where, thumbing through the yellow pages or wearing out your shoe-leather down town. In addition to this, Insurance companies offer the best rates to new customers, in order to gain their custom. Existing clients generally stay with them anyway.

What about the internet? It really is worth giving it a try. Do you know that, if you shop around you could, on average, save around £55, plus the extra online discount? It is estimated that more than 2.25 million car owners purchase their car insurance on line now. The internet is speedy and simple to use and internet sales are generally growing amazingly fast.

Car insurers really want your business; they will be extremely competitive with pricing in order to win you over. There are around 100 of them in the UK and due to the strong competition in the industry; prices have held level for the past year or so. You can go to the individual insurers websites, comparison websites or use one that recommends specific insurers for different types of driver, whether they be the in the young, higher risk category or the experienced old driver with years of proven safe driving behind them. You will receive instant results and an unbelievable amount of advice and information. You’ll be asked to fill in your relevant details, for example the number of years you’ve been driving, whether there are any convictions, number of years of “no claims” for your discount. All easily answered and your no claims details should be on your renewal notice.

Apart from the straightforward individual car insurance, new categories of insurance are coming on to the market. There are pay as you go options and multi-car policies. These used to be difficult to obtain unless you were in the car-trade. It certainly seems to be time to re-assess what’s available in the car insurance line and get yourself up to date on what’s on offer. A short time browsing the internet will get you thinking along the right lines.

A word of warning though; The AA’s Ian Crowder says “If we don’t start to see modest price increases, then there could well be an unpleasant and sudden price hike. This will not be good for the industry’s reputation or out customers.” Insurers are beginning to show signs that they may not be able to continue to hold down prices for very much longer. Claims are accelerating. The average cost of accidental damage repair has risen, costing an additional 5% per year, despite the fact that there are fewer accidents. Claims for personal injury are rising fast and the cost of settling these is rising at around 12% per annum.

Don’t give your insurer the chance to use this as an excuse for a rising premium, get on line and get sorted!


Sabtu, 19 Juni 2010

Car Insurance. Premiums Driven Down By The Internet.


After so many experts have warned us that the cost of car insurance is on the rise, what's happened? It's fallen! It's mostly down to the growing impact of shopping online.

In the second half of 2005 the average car insurance premium fell from £470.17 to £462.15. But it's the silver surfers who've benefited most. During the last six months of last year, drivers over the age of 65 have seen their average premium fall by 4.5% from £342 to £347. What is most surprising are the huge differences in premiums between providers. Differences of 40% between the most expensive and the cheapest are common.

It seems that most motorists are not aware of this as every year, half of them automatically renew their insurance with their existing insurer. A further 19% only bother to get one competitive quotation.

And readers will be surprised who sells the expensive policies. A recent survey in “Which”, the consumer magazine, shows that Norwich Union - the UK's biggest insurer - failed to come top in any of the 36 driver categories surveyed. Direct Line, another well-known name, only managed one top spot.

This is down to the marketing strategies of the big brand names. They have been building up their client base with low prices and heavy advertising and then gradually increase prices. They are clearly relying on apathy and brand loyalty to keep their clients. And with 50% automatically renewing, it works!

But if you decide to shop around, be careful. A low price isn't everything. Some policies have mouth-wateringly low prices but skimp elsewhere.

For example, when your car is being repaired, do you want a courtesy car? Some policies only pay £100 or so for stolen audio equipment. Is that enough? Do you want to insure your personal belongings whilst they're in your car? And crucially, some comprehensive policies won't provide third party cover if you to drive another person's car - even with their permission!

Before you decide, it's wise to consider all these aspects.

But going back to price, if you think prices are cheapest on the Internet, you're right! Internet quotations are normally 5% - 10% cheaper than telephone quotes.

When Internet shopping, most people look for the cheapest quote and then read the details about the cheapest policy to check out that they provide the cover that's needed. You can hunt for the best deals by searching under “car insurance” but some of the discount insurance sites are more easily found if you type in “discount car insurance” or “cheap car insurance”.

But please remember, when renewal time comes around go shopping again. Don't automatically renew! It's so easy on the Internet as I found this year. My previous insurer quoted me £945 and I eventually bought it for £702. A saving of £243 for 30 minutes work.


Jumat, 18 Juni 2010

Car Insurance. It's Getting Increasingly Expensive When You're Elderly.


There were 550 serious accidents last year where the driver was over aged 70 and where driver was either killed or badly hurt, reports the Institute of Advanced Motoring . That statistic represents 8% of the national total of 7,035 similar accidents. That means that the over 70's's have more, very serious accidents per mile than any other sector of the population. This view is supported by the Association of British Insurers whose research shows that drivers aged over 70 are 13% more likely claim on their insurance than the drivers aged between 40 and 50.

As the number of elderly drivers will double during the next ten years, this represents a problem for elderly drivers and their families - not to mention the insurance industry, police and indeed all of the emergency services!

You can probably predict the response from the insurance industry. Many insurance companies already reckon that drivers over 80 are as high a risk as the under 25's - and charge premiums to match! Some are even progressively loading premiums once the driver reaches 60. Then at 70, you'll find that many insurance simply refuse to offer cover. Norwich Union and Esure won't quote after 70 and by the time the driver reaches 80, the field narrows to specialised insurers who insure elderly drivers. Help the Aged and Age Concern both market policies that have no upper maximum age. Cornhill only accepts new policyholders up to 84 but if you've been insured by them for a few years, there's no upper age limit. RIAS and Saga are also pleased to consider older drivers.

As the price of car insurance is based on historical claims experience, a 75 year old male driver can expect to pay at least 33% more than if he were aged 50. By the time the driver reaches 80 the premiums hit boy racer levels! So if you're in your early 50's keep smiling at the lowest premiums you'll ever experience – they won't last forever!

And the fairer sex fare even worse. Whilst younger women are renowned for their safe driving, they become more accident-prone as they get older. Whereas male drivers improve with age. (Where have we heard that before!) As a result, elderly women drivers pay the highest rates for car insurance.

It's a biological fact that eyesight and reaction times worsen as age creeps on. And with traffic becoming heavier and road networks ever more complex, elderly drivers can more easily become disorientated and confused. Even a fraction of a second's delay can make the difference between an accident and a near miss. Insurers are reacting by insisting that more elderly drivers take a medical before agreeing to provide insurance. The best advice is to build up a no claims record and as soon as possible and buy No Claims Protection. This protection cost a bit more but it's well worth the money. Then make sure you pay for any small bumps yourself.

But there are some simple steps that older drivers, and indeed all drivers, can take to reduce the likelihood of them having an accident and thereby making themselves more insurable. It's often more about those little things and being alert to likely problems. For example, car parks are a breeding ground for small accidents. Knowing that take more care. Before you get back into your car, walk round it to see how much room you've got. Then edge out carefully making sure that other drivers in the car park aren't driving into the area you're moving into. Then, if advancing years has stiffened you neck and all-round visibility is a bit more difficult, take special care at junctions and when reversing. Remember to move you head and swivel your shoulders - that way you'll increase your sweep of vision.

Many of the policies for older motorists contain special provisions designed to assist them. On Saga's policy for example, ex company car drivers can use any no claims record they'd built up and if a couple are insured and the main driver decides to quit driving, then the spouse can take over the no claims record. Other policies also provide full insurance cover for anyone who takes over driving in an emergency. Cornhill will even payout £250 if the DVLA stops you from driving for health isues associated with age.

In moves to diminish the numbers of accidents involving the elderly, the UK Government is investigating the issue of deteriorating health amongst elderly drivers. It seems to be considering the idea of obligatory health checks for elderly motorists. At the same time some local councils are introducing initiatives of their own. Torbay council has launched a scheme to encourage families and GP's to take more responsibility for encouraging elderly drivers who are not really fit drive, to give up. A road safety spokesperson for Torbay council said, ”The problem is that the elderly can't always see themselves when it's really time to give up driving so those closest to them must take responsibility for that.”

In the meantime, a survey carried out by the Institute of Advanced Motorists confirms that older motorists are aware that they represent an increased accident risk. Seven out of ten older drivers surveyed said they would like to take a refresher course for motorway driving skills and six out of ten wanted to improve their performance at junctions and on unlit roads. In response to these issues, the Institute has extended its advanced tests to older non-members to encourage them to improve and build up confidence. The tests also help spot any serious problems that should encourage the driver pack up driving.


Kamis, 17 Juni 2010

Car Insurance. Involved In An Accident With An Uninsured Driver?


Uninsured drivers are ten times more likely to drink and drive and three times more likely to be convicted of driving without due care and attention. They also cause one accident every six months. In fact one in twenty motorists regularly drive without insurance. It's therefore not perhaps surprising that, one in ten of all motorists have been involved in accidents with uninsured drivers. The question is what to do if you're involved in an accident with one?

At the time of the accident you're unlikely to realise that the other driver is uninsured so you'll have to react in the normal way. Take a note of the other car's make, model and registration number. Also note the other driver's name and address – but whether he'll give you his correct details is perhaps unlikely! Nevertheless, always record what the other driver says. Unless you have this information you'll have no leg to stand on when it comes to getting some of your money back.

Also take notes about the damage to the other car and the accident scene. Remember to note road markings, road signs, light and weather conditions and whether the other car had its lights on – in fact as much detail as possible. Then if you're lucky enough to have an independent witness get their full contact details. And if you happen to have a camera in the car, take lots of pictures - and try and get one with the other driver clearly in the picture. The police might like that one!

If your policy is comprehensive, your insurer pay for your car to be repaired but you could lose your no claims discount unless you've paid to protect it. But then there's the issue of your excess payment – that's the first part of the repair cost you have to pay for. You'll have to pay that unless you're lucky enough to have a policy that waives the excess payment if you're hit by an uninsured driver.

For those of you with third party car insurance, you're in for a hard time. Your insurer won't pay for your repairs and, as the other driver is uninsured, you're not going to get any money off him unless you can trace him and succeed in a court action. Even then there's no guarantee that he'll pay up! Your only guaranteed solution is to make a compensation claim to the Motor Insurers' Bureau - but you'll still have to pay the first £300 of the claim.

The Motor Insurers' Bureau insists that have the other drivers' car registration number and you must first report the accident to the police. Always ask the police for a copy of their accident report as the Bureau's likely to ask to see it. The Bureau's telephone number is 01908 671681 or you can e-mail them on enquiries@mib.org.uk.

At the moment The UK' Law is being amended to crackdown on uninsured drivers. Not before time. Anyone keeping, not just driving, an uninsured vehicle now faces a fixed £100 fine and can also have their car seized and crushed. Currently the average fine for driving without insurance is just £170 and that's hardly a punishment when car insurance costs many times more. Losing the car plus a fine of £100 is much more realistic. Let's hope that the courts fully implement the crushing sanction!

A police spokesman said recently, “ Uninsured drivers are often guilty of many other driving related offences, such as having no driving licence or MOT certificate. We're doing everything in our power to get these dangerous and illegal drivers off our roads”.

We say, go to it blues and two's!


Rabu, 16 Juni 2010

Car Insurance. Bad Eyesight Threatens Your Insurance Cover.


If you have an accident and it’s found that you’d failed to keep your car roadworthy, for example excessively worn tyres, and that was a contributory factor in the accident, your insurer will probably refuse to pay up. And the police may also show an interest too! Quite reasonable many of you will say. But what if it’s you that’s un-roadworthy?

How many driving accidents are accompanied by the comment “I didn’t see the other vehicle”? And what happens if the problem was your eyesight? Has it deteriorated to a dangerous extent?

Well all of us clearly know if we have an eyesight problem but there are opticians to help on every high street. Remember, if you need contact lenses or glasses for driving then you must wear them and if your eyesight deteriorates you should get a new prescription. It’s the legal responsibility of all drivers to ensure that they’re safe to drive.

Only last week I drew up alongside an elderly driver who was clearly having trouble reading the junction signs. He was leaning forward trying to read the signs indicating towards Leeds and rolling forward at 10 mph – all this at traffic lights that by this time had turned red – and he clearly hadn’t seen those! He was lucky that the cars coming across from the right saw him early. I’m not even sure he saw them either!

The law is quite straightforward – it states that any driving licence holder who cannot meet the minimum level of eyesight must not drive. They are also required to surrender their licence.

The eyesight test for drivers’ states that you must be able to read a number plate containing letters and figures 50 mm wide and 79mm high (that’s a legal number plate) from a distance of 20 meters. But you can use your driving glasses.

Having said that there’s no legal obligation for you to have regular eyesight tests but you are required to tell the DVLA if you develop any medical problem that affects your fitness to drive. If you don’t tell them, it’s a criminal offence.

In some American states drivers have to take an eye test every five years but not in the UK. Here, driver aged 70 and over must complete a medical form every three years confirming their fitness to drive and the definition of “fitness” includes eyesight. If theses drivers fail to send in their medical form, they lose their driving licence. (I wonder what that elderly gentleman at the traffic lights said on his?)

On the insurance front, if you are involved in an accident where your defective eyesight was a contributory factor, your insurance company may well argue that you were negligent and refuse to pay out. This could be simply because you needed glasses to drive but weren’t wearing them at the time.

So drive carefully, and keep your eyes peeled – elderly gentleman in Leeds please take note!


Selasa, 15 Juni 2010

Car Insurance


Nothing is easy even in today’s one-click world.  Buying car insurance can be a big hassle, and take most of a day calling around, talking to different companies to get quotes.  A lot of people don’t have the time to waste to call several different companies out of the phone book, haggling for the best deal and the lowest car insurance rates.  Yet everyone still wants to find the best deal, whether or not they have a lot of time on their hands to shop around with.  If you’re a bargain shopper, then you know the Internet is your best bet to find the greatest deals – on anything.  If you buy your car insurance online, you’re liable to come away with a great deal.

Every car insurance company says they can offer you the best deal and the lowest rates, and it seems almost impossible to get a straight answer when you get a quote over the phone.  Many shoppers feel more comfortable buying car insurance online, in a quick and easy process that doesn’t mean sitting through a long series of automated questions and answers.  By gathering quotes on the Internet, you won’t have to talk to anyone on the phone, answer any questions posed by automated voices, or sit and wait for a human to have the time to talk to you.  The Internet allows you to move easily through the process of getting quotes, and many consumers prefer this method. 

If you want to get quotes online, the first rule of thumb is not to go to car insurance company’s web site.  This will limit your quotes and your options.  There are tons of sites out there that allow you to fill out a single questionnaire and then compare quotes side-by-side.  You can, in this fashion, look over the rates and coverage of several different companies at once.  Using the phone as your only tool, getting that many quotes could take hours.  With the Internet, you can compare a large list of quotes, immediately weeding out companies whose prices don’t fit your budget.  Any Internet search will produce web sites that offer comparison-shopping and multiple quotes for your car insurance needs.

Another good way to go when it comes to buying car insurance is to buy through an independent agent.  Independent agents do not work for any one company but for you, the consumer.  They do all the work of comparing quotes for you, and in the end they can usually provide you with a much better deal than what you can find on your own.  Independent agents are offered select deals through car insurance companies, policies and rates that aren’t available to the average person.  You will never have to talk to your car insurance company, and will only have to send them a check every month or six months (depending on your payment plan).  If there is any problem, simply contact your insurance agent and they’ll take care of everything.  The best part is, there are no fees involved with using the independent agent – you only pay your car insurance bill.

Most people have to have car insurance because of state laws, and others just know that having car insurance is a good idea.  Just because you have to have it doesn’t mean you can’t get a great deal at the same time, and the less you have to pay, the better.  You can find the best car insurance rates without wasting a ton of time or staying on hold for hours.  Really, doesn’t everyone deserve the best possible deal on affordable car insurance?


Senin, 14 Juni 2010

Canadian Travel Health Insurance


With Canada so close to the US, it is easy to forget that Canada is another country and even though we feel at home when we go there, there are formalities one must have in mind – like having a travel health insurance because the American healthcare system does not pay for treatment outside the US.

There is hardly anything special in purchasing a travel health insurance plan when going to Canada that is very different from doing it for any other part of the world. Maybe one difference is that Canada has a high standard of living and therefore you can reasonably expect that there, like at home, medical and dental services will be more expensive than those in some Third World countries. And this is one more reason to look for the best, not the cheapest travel health insurance plan.

As far as money is concerned, a regular basic plan usually provides coverage for you and your family amounting about $50,000 CAD (about USD 43,000), which is usually enough to cover ambulance service, laboratory examination, doctor’s fees, a short stay in the hospital, etc. But if you are afraid that this is not enough, there are companies that offer over USD 1,000,000 as coverage. And if you go to ski in Calgary, for example, or go on a fishing trip to Ontario, do not let a broken limb ($400-500 with therapy, crutches, etc.) break both your mood and finances.

There are many Canadian companies that offer travel health insurance to Americans and there are many American companies that offer the same for Americans going to Canada, so the choice is unlimited. Just visit their sites and spend some time with the online calculators that allow to enter your age, the duration of the trip, the destination province and your medical condition, and in no time at all you will have plenty of offers to choose from!


Minggu, 13 Juni 2010

Can You Afford To Have Health Insurance?


You may think that the best way to acquire health insurance coverage, is simply to obtain the complete coverage that you can afford. Off course to some extent it is true, and if you have many liquid resources then it is  a good idea to obtain a good complete individual health insurance plan that includes everything from a small fees for hospital visits to full dental coverage. But, if you are not good budget, you may consider getting a smaller policy that you can afford and pay for some of  medical expenses from you regular budget.

If you are trying several other methods that are costly to fill and refill, or that need regular check ups with your medical adviser or doctor to make sure that you have the right cure, it is important to obtain a complete health plan. However, if you are searching for other ways to meet your health costs, it may make sense not to get such  plan. If you do not have any dependents and do not need to make regular hospital visits for any reason, consider whether you really need a full health insurance plan that gives you complete coverage. Paying more cost than your requirements for health insurance can be a heavy burden, so it is good to think creatively and realistically about what you really require and if it is possible to get the care you require without a large monthly payment to a health insurance providers.

Many people know that using a combination of free clinics and lower health insurance coverage, they are able to get by  much less money that they would pay for comprehensive health insurance. It is a cool idea to have coverage that can help alleviating the burden if you suddenly develop a condition that requires urgent care. However, it is a good idea to look for different kinds of plans that are available, as one of the most plans designed specially to give you emergency coverage may be a much better way than a plan that will leave you generally well insured.

It is not a good way to apply different trick with your health care, so make this sure that you if do not opted for the maximum amount of insurance that you can afford, then you have a plan for how to meet any medical cost that may arise in future. Think about other possibilities that you can use to get money for your health care needs, such as starting an investment savings account where you store away the money you would be paying for insurance every month. This will help you to get prepared for anything. Don’t forget coverage entirely though.


Sabtu, 12 Juni 2010

Can You Afford Not To Have Health Insurance?


Many people think the best way to get health insurance coverage is simply to get the most complete coverage one can afford. This is, to some extent true, and if you have a lot of liquid resources it is a good idea to get a comprehensive individual health insurance plan that includes everything from a small deductible for hospital visits to full dental and vision coverage. However, if you are on a very tight budget, you may want to consider getting a smaller plan than you can afford and paying for some of your medical expenses out of pocket.

If you are juggling several different prescriptions that are costly to fill and refill, or that require frequent check ups with your doctor to make sure that you have the right dosage, it is important to get a full health plan. However, if you are looking for ways to economize on your health costs, it may make sense not to get such a comprehensive plan. If you don’t have any dependents and don’t need to make regular hospital visits for any reason, consider whether you really need a full health insurance plan that gives you complete coverage. Paying more than you need for health insurance can be a heavy financial burden, so it is worth thinking creatively and realistically about what you really need and if it is possible to get the care you require without shelling out a large monthly payment to a health insurance provider.

Many people find that through a combination of free clinics and minimal health insurance coverage, they are able to get by spending much less money than they would pay for comprehensive health insurance. It is still a smart idea to have coverage that will help alleviate the financial burden if you suddenly develop a condition or meet with an injury that requires emergency care. However, it is a good idea to look into what kinds of plans are available, as one of the many plans designed specifically to give you emergency coverage may be a much better choice than a plan that will leave you generally well insured.

It is never a good idea to gamble with your health care, so make sure that you if don’t opt for the maximum amount of insurance that you can afford, that you have a plan for how to meet any medical expenses that may arise. Think about other ways that you can designate money for your health care needs, such as starting a savings account where you store away the money you would be paying for insurance every month. This will help you make sure that you are prepared for anything. Don’t forgo coverage entirely though. At the very least purchase a high deductible plan that will cover you in the case of a serious illness or injury. Otherwise one serious illness or injury could wipe you out financially.


Jumat, 11 Juni 2010

Calling all smokers. A dream ticket for two to Paradise Island - for all of you!


Sorry to remind all you died in the wool smokers but November was Lung Cancer Awareness month. But no don't click away – spare a few moments of your time, please ……..

If hard words on packets wash over you, let me put the financial case to you for quitting. As well as feeling healthier I can offer you a holiday for two on Paradise Island in the Maldives, for two, for every year of your longer life!!

OK, I know you don't believe me. Let's explain.

Say the average smoker is 40 and smokes 20 a day. With cigarettes at £5 a packet that's £1,800 a year. Then you'll save loads on the cost of your your life, critical illness and medical insurance. Just how much was highlighted in a recent snapshot study by www.express-life-insurance.co.uk. This found that the average smoker paid 56% more for life insurance than a non-smoker. Therefore, giving up could easily save you £50 per month on your various insurance premiums.

So as a non-smoker you could be £2,400 per year better off. Wearing a financial hat I can show you that if a 40 year old man put those savings into a personal pension plan with NFU, then at 5% per annum growth, he'll have a healthy retirement fund of £97,860. On retirement that could give an in the pocket tax-free sum of £24,465, plus an annual lifetime income of £3,830 (or £5,100 per year if the tax-free cash was left in the pension).

On the other hand let's have more fun!

For £2,400 you can have a 5 star 10 day holiday for two on Paradise Island in the Maldives. Give up smoking forever and you could afford to go back to Paradise Island every year!

QED – makes you think doesn't it?


Kamis, 10 Juni 2010

Can I Buy Auto Insurance Online?


Yes, you can get car insurance quotes online.

You can sit in the comfort of your home and get quotes from several insurance companies for the best rates for your auto insurance.

Do your homework first. Make sure you are familiar with state limits and requirements.  Know what you want. You can save money with minimum limits as required by the state, but higher limits will protect you better.

Make sure you have the right underwriting information and be aware of your losses. If you've had many losses with your current carrier, it will affect your rate with the new carrier.

Even though you can do everything on line it still pays to speak to a representative. Person to person contact may elicit little money saving tips and information on credits companies may offer. For instance, did you know that if you have a teen driver with grades of B or above, you may be entitled to a rate credit?  Online applications may not offer this advice.

If you have your eye on a brand new sports car, sometimes you might want to speak to a person before you go ahead and get a quote.  They might be able to advise you on which features to get in order to save a dollar here or there.

Make sure the company is reputable. Because they have an online presence it doesn't mean that they are a reputable company.  Do your research. Check with AM Best, an agency that monitors the financial responsibility of insurance companies.  Also check with your state to see if there are any outstanding complaints against the insurance company you're getting quotes from.

The internet makes it very easy to get auto quotes, just do your homework.

Please see our list of references below for low rate insurance quotes. These are also great sources for insurance information and tips on saving money every month.


Rabu, 09 Juni 2010

California strengthen health reforms


While Massachusetts previous year became the first state wanting each one to purchase health insurance, the proposals in California could come up with an even bolder trial, because the Golden State's problems are so much larger. "It's now a bigger face in California," says Marian Mulkey, a senior program officer at California HealthCare Foundation, a non-profit organization think tank. "That's not to say it's insurmountable."

California health insurance, for example, a predictable 4.9 million people are short of health insurance. That compares with a forecast 500,000 in Massachusetts before its plan began. That's why politicians from other states — along with policy specialists and officials in Congress — are watching the California try closely, with its latent to set a nationwide model. Some desire a worldwide program paid for and overseen completely by the government. Some states all individuals must be obligatory to purchase health coverage, while others say such a go-ahead is draconian when premium costs are so high.

Health insurance in California hit a barrier surprises few. The challenge is huge and the solutions are contentious, splitting lawmakers. Republicans devastatingly do not support the two Democratic health-improvement measures, which are in play in California, nor did any back the governor's plan. While their suggestion shares some of the governor's ideas, Democrats part with Schwarzenegger in two important ways: They do not desire to need individuals to purchase health insurance, and they wish employers who do not provide insurance to pay more than the governor proposes.

"Any development in California would make a considerable dent in the problem of the uninsured nationally," says Larry Levitt, a health insurance policy forecaster for the Kaiser Family Foundation, a non-profit study group based in Menlo Park, Calif. "Action in California would make genuine momentum, both in the presidential debate and in other states."

In Massachusetts, years of preparation went into the health-reform attempt before the government — overpoweringly in agreement — passed its measure. "If you are going to refinance one-sixth of the world economy, you would better not do it on a 50-to-49 vote," says Jon Kings dale, head of the state agency overseeing rollout of the program in Massachusetts. "Enacting something is only semi the challenge."


Selasa, 08 Juni 2010

California Commercial Vehicle Insurance


In California - the sun state - as well as in other states and other countries, commercial vehicle insurance is a significant part of the product spectre most insurance companies offers. For most of us ordinary drivers with our personal cars and other private vehicles like motorbikes, leisure boats and recreational vehicles doesn't offer much attention to the fact that lots of people are actually using their vehicles for a living.  If you drive a commercial vehicle (big rig, delivery truck, bus, etc.) in California you should be aware there are certain legal requirements for vehicle insurance that you must maintain.  Because commercial vehicles can often carry hazardous materials or precious cargo (such as our children) the insurance requirements for them are much higher than traditional automobile coverage.

Not all insurance companies offer commercial vehicle insurance.  Some companies that specialize in auto coverage have a separate division that handles heavy vehicle insurance underwriting.  Many times you can consult with your agent who can inform you of their coverage availability or refer you to another insurer who may be able to handle your commercial needs.

Some of the requirements for getting coverage of these larger vehicles can include specialized driver training requirements as defined by the state of CA.  Often drivers must have a special endorsement or license to drive such vehicles.  Regular inspections are usually mandatory for such vehicles as well to help maintain safety on the road.  It is not uncommon to see random inspection points setup across the state to do spot checks of commercial trucks and other vehicles.

If you have any questions about the availability of coverage or the minimum requirements necessary you should contact the state department of motor vehicles who will explain detailed coverage requirements based on the type of vehicle and for what purpose it will be used for.


Senin, 07 Juni 2010

Buying travel insurance online


Travelers purchase travel insurance to cover unexpected health or medical problems. Travel insurance provides coverage if you’re sick or getting injured while traveling. Everyone requires travel insurance policy because life is unforeseen. It also provides coverage if you lost your luggage at the airport.

Travel insurance covers stolen or lost possessions but there may be limits on cash or individual items. If you’re traveling to abroad it pays out for your hospital and medical treatment. It can protect you from all substantial losses that includes canceled trips, lost luggage, medical emergencies or other unexpected situations.

You’ll get extra coverage with specialist travel insurance like winter sports coverage or diving insurance. You should get your travel insurance policy before planning for your travel. Travelers should take some time investigate different insurance companies and types of policies before purchasing. They must check which type of insurance policy provides more coverage.

Having a travel Insurance policy is the best idea to reduce your risks and increase your enjoyment while traveling. Travelers must consider certain factors such as health, weather, season and the way of transportation before purchasing an insurance policy.

Cost of travel insurance policy depends on the type of policy as well as insurance company. If you’re investing more in your trip, you need more protection. Travel insurance offers complete protection for you, your family as well as for your baggage. Several insurance companies offer insurance policies at discounted rates. Sometimes travel agents also offer insurance policy. Some insurance companies/agents provides online help for purchasing travel insurance policy.


Minggu, 06 Juni 2010

Buying the best available Auto Insurance


Auto insurance refers to the insurance that is common for insuring all types of vehicles against all kinds of uncertainties that may cause bodily damage to the vehicle. The sole reason behind insuring the vehicles is that it gives protection against the losses incurred due to accidents. Auto insurance is available for consumers who want to buy such insurance, to protect the life span of their vehicles and also for recovering the amount of the damage that the vehicle survives. People usually buy these insurances for all kind of automobiles like cars, trucks and other kind of vehicles, to avoid any risk. Different kinds of coverages have been started by the insurance companies, to suit the interests and the needs of the insured.

Before buying auto insurance, it is very important that the person goes for a thorough analysis of the proposals offered by different companies for such insurances. Different companies offer different quotes for the insurance of the vehicle, the consumer must look out for the best one, which suits his needs and which proves to be very economical. Many companies also give different discount schemes to attract more and more consumers. The consumer can save a good deal, while purchasing auto insurance by comparing the quotes of different companies and choosing the cheapest one which satisfies all his needs.

Quotes from different companies can be compared on the internet, for buying the best available auto insurance, it provides a wider platform to the consumer, where he can easily access and compare quotes from several companies and choose one among them. The main thing about choosing a quote is that the quote need not necessarily be cheap but the company must be an established one on which the customer zeros on.

The consumer should not only compare the quotes of different companies but also companies, their reputation and their way of service. While comparing, the consumer is more acquainted with the different kind of coverages that are available and choose among them according to the needs.

The major hullabaloo about insuring automobiles is the increasing reckless accidents that are tolling high on the records. These can only be reduced once the certainty of the accidents is reduced. The companies quote their prices for insuring depends of various factors like the age of person to whom the vehicle belongs, the location where the car is bought and supposed to be used in the area and also many other factors. The details regarding the car like its parking place, whether it has a garage because that reduces the risk of being stolen or damaged. Also the mileage of the car is a deciding factor of the quoting the price of insurance.


Sabtu, 05 Juni 2010

Buying Life Insurance? One Tip To Save You Thousands!


It’s simple, always have your Life Insurance policy “Written in Trust”. This may sound technical but it is easy to understand and it’s so easy to organise.

“Written in Trust” ensures that in the event of a claim, the policy will pay directly to the beneficiaries you name on the policy when you first take it out. If you do not do this, the policy will payout to your legal estate and this inevitably means that the money stays in your solicitor’s hands for some time.

Yes, that implies legal delays and, of course, your solicitor takes a small cut!

Then, if the value of your taxable estate exceeds £275,000, and remember your home can easily account for the lion's share of the £275,000 limit without much difficulty, your estate will have to pay Inheritance Tax. This represents 40% of the estate’s taxable value in excess of £275,000. So, if your estate has to pay Inheritance Tax and the proceeds of your life policy go to your estate, the taxman gets his hands on 40% of your life policy!

But it’s so easy to avoid all these problems.

Simply get your policy “Written in Trust”. Then the life insurance company pays out immediately, directly, and totally tax-free, to the persons you have named on your policy. All you have to do is tell the online brokerage organising your policy that you want your policy “Written in Trust” and they will automatically sort it out for you.

This advice remains sound even if the policy is designed to pay off your mortgage. Rather than your estate using the insurance payout to pay off your mortgage, the policy can be written in trust and paid to your partner and then he or she can use that money to pay of the mortgage. The benefit? Well if your taxable estate exceeds the IHT threshold the mortgage is effectively paid off tax-free.

The extra good news is that all the brokers we’ve met will arrange for your policy to be “Written in Trust” as a free of charge service. So it’s a win win situation and there aren’t many of those around these days!


Jumat, 04 Juni 2010

Buying Life Insurance online – is it a really good idea?


The advent of the internet has opened up the possibility of cheaper life insurance for all.

In years gone by, if you were considering life insurance you would probably have invited an insurance salesman from your favourite insurance company to meet you or alternatively gone to your local insurance broker. But rarely would you have been courageous enough to get competitive quotations. It just wasn’t done. You trusted the salesman to do the best for you and surely you thought, life insurance is somewhat technical and requires specialised knowledge. All very cosy. All very expensive. How life has changed!

People now realise that life insurance is not that complicated. If on a scale of 1 to 10, buying car insurance online rates 9, life insurance must be a 7 or 8. This has opened up the Internet as a prime arena for cut-price life insurance. That’s not to imply that life policies bought on the Internet are in any way substandard. No, you’re most likely to end up with a policy from one of the UK’s big insurers like Norwich Union or Legal & General and they’ll be exactly the same policies as you could buy anywhere else. It’s just that the intense competition on the internet and efficiency and simplicity of the system, means that most online brokers decide to cut the commission and roll back the savings into lower prices.

Ah yes I hear you saying, 7 or 8 implies that life insurance is more complicated than car insurance. Yes it is - but that doesn’t mean that it represents a problem. The companies selling life insurance online recognise that many clients feel that some level of personal advice is useful and indeed, necessary. They accommodate this with a mix of useful information on the web site and more often than not, with a short telephone conversation with a life insurance adviser prior to you buying. This provides reassurance and helps to ensure you really do get the policy options you need all at rock bottom prices.

Buying online certainly is a good idea.


Kamis, 03 Juni 2010

Buying Life Insurance? One tip to save you £thousands!


It’s simple, always have your Life Insurance policy “Written in Trust”. This may sound technical but it is easy to understand and it’s so easy to organise.
“Written in Trust” ensures that in the event of a claim, the policy will pay directly to the beneficiaries you name on the policy when you first take it out. If you do not do this, the policy will payout to your legal estate and this inevitably means that the money stays in your solicitor’s hands for some time.

Yes, that implies legal delays and, of course, your solicitor takes a small cut!
Then, if the value of your taxable estate exceeds £275,000, and remember your home can easily account for the lion's share of the £275,000 limit without much difficulty, your estate will have to pay Inheritance Tax. This represents 40% of the estate’s taxable value in excess of £275,000. So, if your estate has to pay Inheritance Tax and the proceeds of your life policy go to your estate, the taxman gets his hands on 40% of your life policy!
But it’s so easy to avoid all these problems.

Simply get your policy “Written in Trust”. Then the life insurance company pays out immediately, directly, and totally tax-free, to the persons you have named on your policy. All you have to do is tell the online brokerage organising your policy that you want your policy “Written in Trust” and they will automatically sort it out for you.

This advice remains sound even if the policy is designed to pay off your mortgage. Rather than your estate using the insurance payout to pay off your mortgage, the policy can be written in trust and paid to your partner and then he or she can use that money to pay of the mortgage. The benefit? Well if your taxable estate exceeds the IHT threshold the mortgage is effectively paid off tax-free.

The extra good news is that all the brokers we’ve met will arrange for your policy to be “Written in Trust” as a free of charge service. So it’s a win win situation and there aren’t many of those around these days !


Rabu, 02 Juni 2010

Buying life insurance: A Shopping Checklist


When shopping for term life insurance, you want to find the right amount of insurance coverage at a reasonable price with a company you can trust. But for many people, getting started is the hardest part. That's where the following Life Insurance Checklist can help.

1. What you would like your policy to achieve?
Ask yourself what it is you want your life insurance to do. For example, do you want to have insurance coverage that will:

•    Pay funeral arrangements?
•    Pay the outstanding balance owing on a mortgage and other debts?
•    Offset the loss of your income? And if so, for how long?
•    Contribute to the future education of your children?
•    A combination of all or part of the above?

Knowing what you would like to accomplish with your life insurance policy and approximately how much you need to achieve these goals will help you determine how much life insurance you should consider purchasing. Online life insurance calculators are available to help you put a dollar value on the amount of coverage you need.

2. Who would you like to insure under the life insurance policy?
Most insurance companies offer a variety of life insurance products to suit your lifestyle and family needs. You can get an insurance policy on your own life, or you can get one policy for both you and your spouse (called a joint life insurance policy). The most common joint life policy provides coverage when the first partner dies, leaving the life insurance benefit to the surviving spouse.

3. How long will you need life insurance?
Consulting a psychic isn’t necessary, although it does require that you estimate the timing of your life insurance needs. For example:

•    When will your mortgage be paid off? The amortization period of your mortgage will often determine how long your term life insurance policy should be.
•    When will your children be finished school? One day they'll finish their education and having enough life insurance coverage to pay their educational expenses won't be necessary.
•    When are you planning to retire? You will have less income to replace at that time.

Knowing how long you’ll need life insurance coverage before you begin shopping will ensure you're comfortable with the life insurance product you end up purchasing. Online tools are available to help you figure out which term for your life insurance policy is most recommended for people with similar lifestyles.

So now that you've got the how much, who and how long questions answered, you’re ready to shop.

1. Compare life insurance quotes from multiple companies:
It pays to shop around because life insurance rates can vary considerably depending on the product you choose, your age, and the amount of coverage you request. This is the easy part, because with the Internet you can compare life insurance quotes easily, online, anytime.

2. Which life insurance rate has been quoted – standard or preferred?
There are two basic life insurance rate groups you should know about when shopping for life insurance coverage: standard rates and preferred. Standard life insurance rates are the rates the majority of Canadians qualify for, while about one third of the population is eligible for preferred rates.

Preferred life insurance rates are typically offered to very healthy people and means you may pay a smaller premium than most. Usually preferred rates are offered only once the results of the medical information and tests are known. It will depend on your blood pressure, cholesterol levels, height, weight, and family health history. But preferred rates are worth it. They could save you up to 30-35% off your quoted premium.

When comparing prices, make sure you're comparing 'standard to standard' or 'preferred to preferred' life insurance rates. If you're not sure, ask the broker. It would be disappointing to find out you were quoted preferred rates at the beginning, only to find out you don't qualify for them later.

3. Review the life insurance broker's availability:
How easily can you get a hold of the broker? What are their hours of operation? Whether it is through their website or telephone, the life insurance broker should be easily accessible to you should you ever have questions or need to speak to them about a change in your life insurance needs. Look for toll-free numbers and extended hours of service as guides.

4. Review the medical information required to obtain the policy:
Typically the more medical information you provide, the better the price. For a policy that asks few or no medical questions, you can bet the premium is higher for the same coverage then a plan asking for more information. Depending on the company, your age, and the amount of coverage you want, you could be asked to provide blood and urine samples. To obtain the samples, a nurse will visit at not cost to you.

5. Consider a life insurer's financial stability and strength:
A company's financial stability is something to consider if you are planning on making a long-term purchase like life insurance. There are organizations out there, like A.M. Best, that evaluate insurers and provide a rating on their stability and strength.

6. Ask about renewal options and requirements:
Once the initial premium is set, it is usually guaranteed for the length of the policy (often 10 or 20 years). But what happens when the policy expires? Most policies are renewable until you are 70 or 75 so don't forget to ask your broker if you will have to take a medical to renew your policy. While your premiums will be higher on renewal, find out if they will also be guaranteed to remain level for the second term of the policy.

7. Confirm the policy can be cancelled without penalty:
Most term life insurance policies can be cancelled at any time without penalty. Make sure to check with your broker to see if the life insurance company has any unusual cancellation policies.

8. Consider the conversion options and restrictions for the policy:
As your life changes so do your life insurance needs and you may want the option to convert your coverage some day.

To convert a term life insurance policy means to transfer all, or part of, the death benefit of the policy into a permanent life policy without a medical. For example, say you originally bought a term policy to protect a mortgage and child. Once the mortgage is paid and the child grown, you might find it desirable to convert the policy into one that will give you a new level premium for the rest of your life, and a death benefit that is guaranteed not to expire as you age.

When you purchase your life insurance policy, find out if there are any limitations on your age at the time of conversion. In most cases, you have the option of converting up until you are 60 or 65. As well, ensure you are given several options of the type of policies you can move into, the more the better.

Final tip – choose a life insurance broker you trust:
While it doesn't necessarily impact the type of policy you choose to purchase, a rapport with your broker is critical in feeling comfortable with the life insurance policy you buy and the information you've received.


Selasa, 01 Juni 2010

Buy To Let Property Insurance


Buy-to-let property insurance, some times also known as residential property owners insurance, is needed if you own houses and/or flats to tenants – either on a short-term or long-term basis.  Ordinarily you can buy cheap buy-to-let property insurance in the event that you rent five or less properties in the UK than is the case if you rent more than five properties, as in the case of the former you are seen as a small time landlord with a small business, whereas in the latter you are seen as a full blown property-owning company.

Whether you plan to rent five or less properties, or five or more properties, is, however, a side issue, as in both cases you’ll need to ensure that you have at least the minimum level of required insurance in order to protect yourself.  Consequently, the number of properties you own will have a bearing only insofar as the insurance premiums are concerned.  That said, if you are looking to become a property owner with a letting business, then you need to ensure that you have the following minimum provisions in your insurance policy:

Fire

Insuring against any fire on the property

Natural Disaster (also known as tempest insurance)

Insuring against natural disasters that may occur, such as a storm where the winds tear off your roof or guttering

Theft

Which is especially important if you are renting out fully furnished properties.  In the event that you are renting out unfurnished premises, you may wish to have a discussion with your tenants about whether or not they should have home contents insurance

Public Liability Insurance

This should be a must as it will protect you against any claims your tenants or any third parties (such as their guests) may have for injuries they suffer while on your property

Lost Earnings

There may well be times when your property remains empty; say, for example, while you look for new tenants.  If you are relying on the rental income from your tenants to repay the money you borrowed to purchase the property, you need to ensure you have lost earnings insurance to compensate you during this period

Employee Liability Insurance

If you have employees who will visit the property for you to repair any damage, etc. or to collect the rental payments, then you need to make sure that you have employee liability insurance in case they get injured while carrying out their assigned task

Legal Expenses Insurance

As a property owner you may find the need from time to time to retain the services of a lawyer; for example, if your tenants refuse to pay their rent or move out of the property at a specified agreed time – when you may need to get an eviction notice.  As legal expenses in the UK can be expensive, you should consider insuring against this risk by having in place a provision of legal expenses in your insurance policy.

Although the above are basically the bare minimums you need in your buy-to-let property insurance policy, you can also tailor these types of insurance policies to meet your particular needs, so make sure that you talk through your circumstances with your insurance provider, especially if you anticipate expanding the business in the near future.