Posts tagged ‘Insurance’

February 7th, 2014

Tips on Purchasing Car Insurance

by Jonathan Cogley

Everybody needs to have an auto insurance. But you need not have to overpay it. When planning to purchase a car insurance policy. Following are tips that are likely to help you in buying a car insurance. It will not only save you with money, but also help in getting the best deal.

Tips for buying car insurance

1) Deciding on the coverage you need
To find the right insurance for the car, it is a good way to figure out the amount of coverage you require. Search and find out, what coverage is actually required where you live, as it varies from state to state. You can find a list of requirement for a particular sate and details about the types of car insurance, thus you get ready with the list of various types of coverage.
Once you get to know what all is required, you can easily decide what you need.

2) Collecting and gathering quotes
When you are researching about the insurance company, carefully make a note of the prices and coverages comparisons. Make a list of:

  • Monthly and annual rates for various types of insurance.
  • Telephone numbers of insurance companies, so that you are easily answered to the questions you can’t find online.
  • The payment policy of insurance company, payment plans, etc.

3) Contacting different insurance companies
Once you have information of various insurance companies in hand, now contact those companies from which you were not able to get online quote. Researching through phone can actually be faster and easier than finding it online, as information provided online may be incorrect.

4) Looking for discounts
Either online or through phone calls, see to it that you get information on discounts if any. Insurance companies offer discounts for those who have good driving record. Moreover, if there is a teen driver in your family, ask for more discounts.

5) Assessing the insurance company’s track records
Now you have all the information to make a decision. You can compare and see which company’s insurance is least expensive, but see to it that being cheap should not be the only basis for opting for the car insurance of the company. Develop a clear picture about how the company’s financial stability and how will it respond to you in the event of a claim. Check at some places by using National Association of Insurance Commissioner Information source that gives you the better idea about the company’s track records.

6) Reviewing the policy before signing
Once you close thorough research, it is time for planning to finalize the insurance policy, read and understand all the main points. Make sure to verify whether the policy contains the requested coverage and price. Rather than fighting later, it is a sensible idea to review the policy thoroughly.

Following these tips is likely to help you purchase an insurance policy for your car.
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September 18th, 2013

Car Insurance- Know How to Purchase

by Edwin Rosenthal

In modern life, it is necessary for every car owner to purchase a car insurance. To know how much auto insurance cover you are able to afford and maintain, you have to know what the law requires in your jurisdiction. What type of insurance you need and what your state requires.

The first step you need to do is to know what your state requires: This is an easy step to find and without the state minimum you cannot drive legally. It is, therefore, necessary to have at least the minimum requirements.

Know What can Influence Your Insurance Rates:
Before purchasing car insurance, you need to know about your driving records. First you have to order the copy of your driving record, Because your driving record determines the insurance premium for your car. Therefore, you need to check carefully whether it is accurate or not and also check for current record. For getting the best rate, you your driving record should not have a single error.

Know What Coverage You Need:
Your state minimums will not cover what you want, because these are legal minimums that your state sets that you must maintain.

As per Consumer Reports, the general guideline for property damage is $100,000, plus per accident it is $300,000 and bodily injury liability limit per person is $100,000. This is the amount that your insurer will pay for the person when you meet an accident.

Some other coverages:
Always your policy can supplement with specific protections like many people who have vehicle will get comprehensive and collision coverage. If you hit something, the collision coverage will be paid to repair your own car and when the car is lost or damaged due to some other causes which are other than the accident, the comprehensive coverage pays out. This option comes with the deductible usually worth $250 to $1000 you pay out of your pocket before the insurance comes in. For this coverage, the higher the deductible, the lower the premium you have to pay. You have pay lower premium to that extent.

Some additional coverages include rental reimbursement coverage. This is, when your car is in servicing, it pays for your rental car. You do not need this additional coverage when you have an auto club membership.

Ask the following discounts for getting best rate:

  • Higher deductibles: This will lower premiums.
  • Safety equipment: This includes anti-theft devices and anti-lock brakes by which you can get discounts.
  • Good grades: This is for young drivers who maintain better in school or B average.
  • Multiple Policies: if you have two or more policies with same company, the insurer will offer some discounts.
  • Long Time Policy Holder: Ask for the discounted premium, if you have policy with the insurer for many years.
  • Good driving record: This is for the people who have not made any claim or have not received any traffic ticket or not met with an accident for three years.
  • Drivers Education: if you complete the drivers safety course or driver’s education, the company will offer discounts.

Shop Around and Gather quotes:
When you came to know about the kind of coverage your state requires, then to get an accurate quote you need to follow the below information.

  • The parking place of your car overnight
  • The coverage type and limits that you want
  • The description of your car includes, VIN – Vehicle identification number, make, year and model
  • The age and sex of the driver and driving license numbers of number of drivers in your house with their names.

Then get some auto insurance quotes and compare the rates.

Check for references:
Even though you know the company which is offering at the best price the insurance policy you want, compare it with quotes of as many number of insurers as you find. You have to check for the company reliability. This you can do by checking with your state’s insurance department, that should allow you to compare insurance companies premium in your state.

Check for the number of customers’ complaints that the company has and also the financial stability of the company. Also check for consumer reviews of the insurance company.

Before signing the policy, you should carefully review to make sure that it is covering all the coverages that you want. This should include your state’s legal requirements and also the company additional requirements which finances your car loan.

The proof of the insurance should be always kept in your wallet or car. By doing this, you need not worry when the traffic police stops you and asks for it. read more »

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October 17th, 2011

Why do Hotels and Restaurants Need Insurance?

by Andrew Veazey

Insurance is important for any type of business to protect the business from all possible losses. Even the restaurants and hotels also require insurance for their business. They can also need some type of business insurance to protect their business against losses. Here are few points that outlines the need of the insurance for hotels and restaurants.

  1. Every hotel and restaurant needs the building insurance for their commercial building, if it is their own building. There are many possibilities that a building can get damaged. They may be due to, earthquake, floods and vehicle accidents. To protect the business from the building damage losses, the business needs to take building insurance.
  2. To protect your hotel or restaurant property from fire and other accidents, you need to take the property insurance. The property insurance provides the benefits to the property loss, due to fire, theft and other events.
  3. To protect your customer’s health and life from some unfortunate events, such as fall down in your restaurant or get sick due to the food in your restaurant. To give some security for your customers and for your business, you need public liability insurance. Public liability insurance provides the benefits for your customer, if they get sick by falling in restaurant or get ill after eating food in your restaurant.
  4. Liquor liability is required in most of the countries to the business who sell liquor. It helps to protect you if your customers have drunk too much and hurts themselves or someone else. It helps restaurants to stay protected from above type of problems.
  5. Workers compensation: Most of the countries require that all employers to carry some type of workers compensation insurance. It protects you if some employee is hurt at work.

Due to all the above reasons, hotels and restaurants need insurance coverages. read more »

September 19th, 2011

Why is Health Insurance a Necessity in Today’s Environment

by Edwin Rosenthal

Most of the people who are healthy think that, why should I spend money on health insurance? They think that health insurance is something that they need only when they are ill or grow old. However, the truth is that, health insurance protects you in case you become seriously ill or meet with an accident.

In today’s environment, the expenditures of taking care of personal and family’s health has increased due to the increased inflation in hospital or medical bills. In present days, where hospital and other medical expenses such as the cost of medicines are skyrocketing and health care has become very expensive. Health care also includes many surgeries, tests and scans. These all increase the over all cost of health care. At present most of the countries are facing global warming, this is the big challenge for human life to save their health diseases. Due to all the reasons, it becomes necessary to have health insurance policy.

Health insurance not only covers the hospital charges, but it can also provide the benefits for you from various concerns. Such as, long term medical expense benefits, scan and diagnosis expenses benefits and also tax benefits.

There are many reasons that tells the necessity of health insurance are:

  1. If you do not have health insurance at present, you are paying all expenses for your health problems from your pocket. At certain time the expenses become over burdening for you or suddenly you may need an emergency surgery which costs high amount. In such times, if you do not have enough money ready for the treatment, it may lead to severe consequences. Hence, having a health insurance, will benefit you in these times.
  2. For example, you loss your current job due to some reason and your father or your dependant need an medical assistance. You do not have the income source, even then you have to pay some medical bills for your dependent. It might be very risky for you, hence, if you hold an health insurance, it will assist you whenever you loose your income.
  3. If your old parents or one of your dependents need medicines over long term to cure their health problem and the cost of medicines are very high. Example, medicines such as, insulin injection or some one who needs continuous meditation to keep living, these are very expensive. In such conditions, we cannot pay money for these health costs out of our pocket for long time, therefore, having a health insurance protects you from these cases.

Due to all the above reasons, health insurance is a must.

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March 10th, 2011

Understanding Commercial Insurance

by Dov Waxman

Commercial insurance is termed as the insurance for business. The most important investment a business owner can make is the commercial insurance. It protects the business from any potential loss that is caused due to some unforeseen and unfortunate circumstances. Small businesses like one-person operations do not need commercial insurance.

Valuable protection against things such as property damage, theft and liability is necessary. The commercial insurance provides coverage for employee injuries and business interruption. If a person starts a business without insurance, he is at risk of loss of money and property if an unfortunate event occurs. Sometimes he may even use his personal money and properties at risk due to failing to secure adequate commercial insurance.

Commercial insurance can be of three types: property insurance, liability insurance and worker’s compensation.

Property Insurance:
Property insurance can be known as that insurance that provides protection for the loss and damage to personal and real property. For example, if a person insures a property insurance, he would be provided with protection for fire damage to his office place. Certain sub-categories of property insurance include boiler insurance, aviation insurance, builder’s risk insurance, earthquake insurance, business interruption insurance and ordinance or law insurance.

Liability Insurance:
Liability insurance is that insurance that covers the injuries that one causes to a third party. If a person sues an organization for personal injuries or damage of property, then the organization gets the cost of defending and resolving the suit through liability insurance policy. The common types of liability insurance includes public liability insurance; professional liability insurance; automobile insurance; errors and omissions insurance; and directors’ and officers’ liability insurance.

Worker’s Compensation Insurance:
This insurance helps in covering an employee’s injuries on-job. Businesses with employees require certain state laws for providing worker’s compensation insurance.

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January 17th, 2011

What is the Difference Between Public Liability Insurance and Employer’s Liability Insurance

by Jonathan Cogley

Public-liability insurance is an insurance which provides the coverage for claims brought against the insured by a third party. Any damage or injury to property, health or life as a result of the use of dangerous objects or work by them, then you can have public-liability insurance for all of them. This type of insurance is standard and necessary to businesses, which have the contact with general public. It also covers the third party property, while doing business.

Generally employers have certain responsibilities about their employees’ health and safety because they work for them. Employer liability insurance covers the cost of the compensation claims and legal fees and other expenses as well. Employees may try for compensation from employers, as they are responsible parties, if they experience injuries, illness or complaints while working either on or off site.

Public-liability insurance does cover the employees but it covers business against action from members of the public, businesses.

Where as employer’s liability insurance covers the claims which are made by the employees against the company.

There are some trades and professions which would benefit from taking out a combined public and employer’s liability insurance policies, such as: Builders, Cleaners, Plumbers, Landscape Gardeners, Electricians, Joiners, Aerial erectors, Steel erectors, Roofing, Hairdressers, Mechanics, Motor Trade, Garages, IT consultants, Corner shops, Fast food outlets, restaurants, Hotels, Tradesmen, cafes, etc.

Thus the above information is about difference between public liability insurance and employer’s liability insurance. Ultimately these two insurances are two separate and different policies.

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November 12th, 2010

Necessity of the Business Protection Insurance

by Debbie Harry

An important safety net for all needs is provided by business protection insurance for every business. This is one of the paths to save the business. Having business protection insurance means having safer way to run the business.

This business protection insurance is a part of the business plan. Risk of losses can be prevented by business protection insurance. It is important that you should have a right insurance policy for your business in fact changing the world to face unexpected condition. Your business will be impacted by loss or incapability of the management, so in these conditions a right insurance can save your business.

There are few key elements to business protection insurance, such as:

  • Key person insurance or key man insurance
  • Directors or officers and shareholders protection
  • Partnership protection
  • Business loan protection
  • Sole trader protection.

Necessity of Business protection insurance: You and your business are covered by business protection insurance. So, it means business protection insurance makes sure that you and your co-workers and your business are insured for predictable events. If you have business protection insurance then you can do the followings, such as:

  • You can continue the business trading.
  • Key individuals can be replaced.
  • Corporate debt can be protected.
  • Purchase a share holder if they become ill or their shares are purchased from their estate if they die.

The above information gives you some idea about business protection insurance to protect your business at any moment. So, you should be aware of the requirements of your business to choose right policy and sufficient coverage.

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November 2nd, 2010

How to get a Comprehensive Commercial Liability Insurance

by Edwin Rosenthal

Generally, insurance coverage provides peace of mind for individuals as it helps them in adverse situations. Commercial insurance provides protection for your business. A commercial liability insurance protects your business from claims of different people such as third parties, employees etc. Any business can cause bodily injury or damage to property of others in its functioning.

A commercial liability insurance has many varieties such as public liability insurance, errors and omissions insurance, malpractice insurance, automobile insurance etc. Each policy has its own advantage. Here we will discuss about the what to check before taking a liability insurance policy.

One should not neglect the coverage limits: Insurance policy should provide adequate coverage for your business. Usually, you are protected by insurance policy. It protects when customers, contractors or others are injured in business premises or because of your property or products. So, you should have sufficient coverage for your business. Cost of legal representation and investigations are also covered by liability insurance apart from medical payments and settlements.

One can ensure the policy whether it is comprehensive or not by following conditions for the commercial liability insurance.

  • There should be a coverage for accidental damage or fire to rented property.
  • Injuries which result from fire or damage to rented property, should be covered by the policy.
  • Slander should be covered.
  • Coverage for accidents which occur on your owned or rented property.
  • Coverage for damage to neighboring property which can be caused by your negligence.
  • Coverage for injury or damage which are arisen by your product or service.

Sometimes, you may face risk because of your employees, you can expand the policy coverage for their actions, so you should have broad and sufficient coverage for your business.

Do not sign blindly: The important thing is one should understand the rules and terms of the policy. Before you make a sign on agreement, you should read that carefully to get the required protection or coverage.

You have to compare the prices and coverage with different insurance companies to get the best coverage of commercial liability insurance for low price.

The above information can help you to get the comprehensive commercial liability insurance for your business.

October 19th, 2010

Cut Down in Cost of Auto Insurance will Reduce Overall Expenditure on Your Vehicle

by Jonathan Cogley

Many people do not care about auto auto insurance. Many people without considering many things, they purchase insurance policy for their vehicle. Generally, one can save automobile costs by reducing the cost of the auto insurance. There are few ways to reduce the cost of the auto insurance, such as:

Compare the prices: Generally, prices vary from one company to another company. If you access the information through the Internet from different insurance company sources then you can get good insurance coverage for your vehicle with less cost. Comparison of prices of different major insurance companies is provided by the state insurance department. You can go through that. The main thing is you compare the different company prices and then purchase one which is suitable for you.

Get higher deductibles: Deductibles means amount of money which are paid before insurance policy starts. If you increase deductible, you can reduce the premiums of your auto insurance.

Decrease the coverage on old vehicles: It is better to reduce the providing coverage for older cars, it may reduce your automobile costs. If the worth of your car is less than ten times of insurance premium then no need to provide coverage for that.

Should maintain a good credit record: If you have good credit history then insurance costs can be cut. Generally, credit information is used by insurance companies to price the auto insurance policies.

Get low mileage discounts: You can get some discounts from insurance company, if you drive lower than average number of miles a year.

So in this, you can save automobile expenses by reducing the cost of the auto insurance cost of vehicle.

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October 8th, 2010

Tips for Saving on Cost of Commercial Insurance

by Dov Waxman

Most of the people may face problems at one or the other time in their life. In order to face the risks, they need an insurance policy for financial protection. Either person as an individual themselves or the business organization of the person will face the risks. So, the best method to get protection is by using Insurance. Commercial Insurance is often used by the business owners in order to safeguard the businesses.

Let us consider some of the tips which are used for cutting the cost of Commercial insurance. But before that, one should understand the coverages which are offered by the commercial insurance. In general, the commercial insurance includes property insurance, general liability insurance, commercial automobile liability insurance as well as umbrella insurance in the cases where the claims exceeds the limits.

Now let us see the tips:

  • Always shop for the best commercial insurance policy. Don’t blindly follow the neighbors or the other people for getting insured because their needs may be different when compared to your needs. So, shop and compare different insurer prices for owning the best commercial insurance policy.
  • Many factors will change the price of the commercial insurance policy. Some of the factors which are considered are check out the property of yours, employees of the organization, number of customers at the work place, equipments of the organization, number of vehicles used etc. Lot of home work should be done for selecting the best insurance policy.
  • Insurer will not get a clear idea about which insurance to be suggested unless you demonstrate the different risks associated with your organization. Which will also reduce higher insurance costs. So, risk awareness should be done.
  • Commercial insurance costs will depend on the credit history of the insured. If you pay your bills on time, better will be the commercial insurance offered.
  • If your business is a seasonal businesses, then in those cases, opt for the adjustments or the coverages which will provide seasonal coverages. Reduce your amounts in the off seasons.

Thus, these are the tips which are used for saving the cost on commercial insurance.

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