Many people purchase excellent travel tickets and vacations at the last minute. In fact, there are a significant number of web sites and companies who offer great deals on vacations and airline tickets for travelers who purchase their vacations and tickets at the last minute. You can obtain great prices because the travel company doesn't want to leave that seat unfilled and will discount the fair or vacation to fill it.
However, TFG Global Travel Insurance.com offers excellent travel insurance for last-minute travellers. You can obtain great travel insurance plans if you are traveling on short notice because our web site allows you to purchase travel insurance online in minutes and receive your travel insurance confirmation in just a few moments via email or later by regular mail.
If you purchase a last-minute flight or vacation, you may want to consider a comprehensive trip cancellation and interruption plan. Most vacation policies such as these do not cover cancellation because of an existing pre-existing condition if the travel insurance policy is not purchased within a set number of days.
Unfortunately, many last minute vacationers forget to get their travel insurance. Note that our web site does offer travel insurance to people who are already traveling. Some policies will cover you with a one or three day waiting period and you can print or take note of your policy and claims numbers if you purchase via the internet. It is a good idea to have access to your emails while traveling or use a Gmail or Yahoo email account to access your travel insurance policy documents.
Where can I get last minute travel insurance?
You can get a quote for a wide variety of travel insurance plans for both business and pleasure from TFG Global Travel Insurance via www.globaltravelinsurance.com/quote.htm
Thursday, March 12, 2009
Travel Insurance is vital for business travellers.
Business persons who are traveling should make sure that they get adequate travel insurance when they travel on business. The Travel Industry Association of America recently reported that business travellers are taking approximately 5 work related trips per year. Business owners should make sure that they are and their employees are covered by a comprehensive travel insurance policy that will cover medical and evacuation expenses. Such costs could cripple an employee's finances and he or she may look to the employer to cover these medical costs, especially if they are on company business.
Employers should purchase a single or group travel insurance policy to cover employees while traveling for business. If employees are traveling more than one time per year, a multi-trip travel insurance plan is the most cost effective travel insurance plan. A group travel insurance plan can also offer great savings either on single or multi-trip basis. It is recommended that such a group multi-trip plan, which can be a stand alone plan or part of a group benefit plan, also cover the employee while he or she is on non-business trips.
Medical evacuation coverage is a must for any travel insurance plan as the costs can also run into the thousands of dollars and the travel insurance assistance provider can coordinate the evacuation details. Most travel insurance plans include medical evacuation, but it can be sold on a stand alone basis for individuals and groups. A business travel insurance plan can also aid in assessing your medical condition, provide translation or even legal help.
Some business travel insurance plans also include coverage for baggage loss, which is quite common these days, especially in some airports such as Terminal 5 at Heathrow. Some business travel insurance plans also include trip cancellation and trip delay, but these can also easily be purchased on a single trip basis.
For business trips to dangerous regions such as Iraq or Afghanistan, make sure you get a travel insurance policy that will cover terrorism and war risk. You may also want to obtain Accidental Death and Dismemberment coverage to cover travel to dangerous regions.
If you are a business traveller this year, make sure that you check to see if your company travel insurance policy exists and if it will cover you while traveling on business and/or pleasure. Also, note that Expedia's online poll revealed that 19% of US travellers postpone or cancel holiday travel plans because of work reasons.
Where can I get business travel insurance?
You can get a quote for a wide variety of travel insurance plans for both business and pleasure from TFG Global Travel Insurance via www.globaltravelinsurance.com/quote.htm
Employers should purchase a single or group travel insurance policy to cover employees while traveling for business. If employees are traveling more than one time per year, a multi-trip travel insurance plan is the most cost effective travel insurance plan. A group travel insurance plan can also offer great savings either on single or multi-trip basis. It is recommended that such a group multi-trip plan, which can be a stand alone plan or part of a group benefit plan, also cover the employee while he or she is on non-business trips.
Medical evacuation coverage is a must for any travel insurance plan as the costs can also run into the thousands of dollars and the travel insurance assistance provider can coordinate the evacuation details. Most travel insurance plans include medical evacuation, but it can be sold on a stand alone basis for individuals and groups. A business travel insurance plan can also aid in assessing your medical condition, provide translation or even legal help.
Some business travel insurance plans also include coverage for baggage loss, which is quite common these days, especially in some airports such as Terminal 5 at Heathrow. Some business travel insurance plans also include trip cancellation and trip delay, but these can also easily be purchased on a single trip basis.
For business trips to dangerous regions such as Iraq or Afghanistan, make sure you get a travel insurance policy that will cover terrorism and war risk. You may also want to obtain Accidental Death and Dismemberment coverage to cover travel to dangerous regions.
If you are a business traveller this year, make sure that you check to see if your company travel insurance policy exists and if it will cover you while traveling on business and/or pleasure. Also, note that Expedia's online poll revealed that 19% of US travellers postpone or cancel holiday travel plans because of work reasons.
Where can I get business travel insurance?
You can get a quote for a wide variety of travel insurance plans for both business and pleasure from TFG Global Travel Insurance via www.globaltravelinsurance.com/quote.htm
Travel Insurance Information
1. What does it usually cover?
Travel insurance coverage varies from insurer to insurer, but there are two major types:
* Travel Medical & Evacuation Insurance: This covers the medical emergency expenses while you are on your trip
* Trip Cancellation & Interruption: This vacation insurance is probably the most common type of travel insurance policy sold in North America. It covers the non-refuntable trip costs if you can’t travel due to unforeseen circumstances such as illness or financial default of the travel carrier. It also covers you if you become sick during your trip and have to return home.
* Flight Insurance: Covers Accidental Death & Dismemberment while you are traveling on the commercial aircraft.
* Trip Delay: Provides a nominal reimbursement for travel delays such as plane departure being postponed.
* Baggage Insurance: Provides reimbursement for lost or stolen coverage that is usually part of a vacation insurance plan.
* Assistance: Most insurers provide a 24 hour hotline for help with medical care, transportation and accommodation needs, notification of family and friends in case of emergency.
The above plans are usually sold as single trip plans. But the vacation insurance and the travel medical and evacuation plans are also sold as annual multi-trip insurance plans that cover you throughout the year up to 1 month per trip.
2. How much does it cost?
The cost of annual travel insurance policies is dependent on one’s age, trip length, trip cost, the plan you want and coverage limits. Trip cancellation and interruption plans on a per trip basis are typically based on the cost of your trip, your age and amount of coverage you want. Most vacation insurance plans are between 4% and 8% of total trip price.
Travel medical and evacuation plans are quite inexpensive, especially if you are young.
3. Won’t my domestic insurance plan cover me?
It is important to know what coverage you may have through your home or health insurance, or on your credit card. However, only travel insurance provides trip cancellation/trip interruption coverage, protecting your financial investment. And not all health insurance plans will provide full coverage when you travel internationally or outside of a designated network area. (For example, Medicare does not cover health care expenses outside of the United States.) Medical evacuation coverage is rarely covered in most standard health insurance policies.
4. Why should I buy a travel insurance plan?
Here are six reasons to buy travel insurance:
* To protect your personal items while traveling
* To protect your financial investment in your trip
* To protect your health and well-being.
* To cover the high medical costs associated with getting sick or injured while traveling abroad that may not be covered by your domestic health plan.
* To cover the cost of being evacuated to a medical center of excellence or back home.
* Peace of mind
Travel insurance is a great value for travelers who are concerned about: their trip being cancelled, delayed or interrupted for reasons outside their control; urgent access to medical care while abroad, medical evacuation and payments for those services; and protection of personal baggage.
5. Where can I get travel insurance?
You can get a quote for a wide variety of travel insurance plans from TFG Global Travel Insurance via www.globaltravelinsurance.com/quote.htm
Travel insurance coverage varies from insurer to insurer, but there are two major types:
* Travel Medical & Evacuation Insurance: This covers the medical emergency expenses while you are on your trip
* Trip Cancellation & Interruption: This vacation insurance is probably the most common type of travel insurance policy sold in North America. It covers the non-refuntable trip costs if you can’t travel due to unforeseen circumstances such as illness or financial default of the travel carrier. It also covers you if you become sick during your trip and have to return home.
* Flight Insurance: Covers Accidental Death & Dismemberment while you are traveling on the commercial aircraft.
* Trip Delay: Provides a nominal reimbursement for travel delays such as plane departure being postponed.
* Baggage Insurance: Provides reimbursement for lost or stolen coverage that is usually part of a vacation insurance plan.
* Assistance: Most insurers provide a 24 hour hotline for help with medical care, transportation and accommodation needs, notification of family and friends in case of emergency.
The above plans are usually sold as single trip plans. But the vacation insurance and the travel medical and evacuation plans are also sold as annual multi-trip insurance plans that cover you throughout the year up to 1 month per trip.
2. How much does it cost?
The cost of annual travel insurance policies is dependent on one’s age, trip length, trip cost, the plan you want and coverage limits. Trip cancellation and interruption plans on a per trip basis are typically based on the cost of your trip, your age and amount of coverage you want. Most vacation insurance plans are between 4% and 8% of total trip price.
Travel medical and evacuation plans are quite inexpensive, especially if you are young.
3. Won’t my domestic insurance plan cover me?
It is important to know what coverage you may have through your home or health insurance, or on your credit card. However, only travel insurance provides trip cancellation/trip interruption coverage, protecting your financial investment. And not all health insurance plans will provide full coverage when you travel internationally or outside of a designated network area. (For example, Medicare does not cover health care expenses outside of the United States.) Medical evacuation coverage is rarely covered in most standard health insurance policies.
4. Why should I buy a travel insurance plan?
Here are six reasons to buy travel insurance:
* To protect your personal items while traveling
* To protect your financial investment in your trip
* To protect your health and well-being.
* To cover the high medical costs associated with getting sick or injured while traveling abroad that may not be covered by your domestic health plan.
* To cover the cost of being evacuated to a medical center of excellence or back home.
* Peace of mind
Travel insurance is a great value for travelers who are concerned about: their trip being cancelled, delayed or interrupted for reasons outside their control; urgent access to medical care while abroad, medical evacuation and payments for those services; and protection of personal baggage.
5. Where can I get travel insurance?
You can get a quote for a wide variety of travel insurance plans from TFG Global Travel Insurance via www.globaltravelinsurance.com/quote.htm
About Travel Insurance
Travel insurance policies provide at least six types of coverage, intended for different types of travellers and trips:
1. Comprehensive travel medical insurance is for people who don't have any other medical insurance, even at home. Since most people who can afford it have health care coverage in their home country, often through their employer, comprehensive travel medical insurance is mainly of interest to long-term travelers who've left their jobs and lost their insurance coverage at home, or to those living and working outside their country of citizenship or permanent residence.
2. Emergency travel medical insurance is for people who have medical coverage at home, but whose health plan at home doesn't cover them while they are travelling. Emergency travel medical insurance only covers emergency services abroad; once you get home, you're on your own (or presumably, back under your regular home coverage) for any necessary follow-up treatment or continuing care. Most health insurance plans and health maintenance organizations in the USA include their own provisions for emergency care while abroad, at least for trips of less than 30 days. Check with your current insurer or HMO before you waste money on an emergency travel medical plan that duplicates your existing coverage.
3. Medical evacuation (medevac) insurance covers the cost of an air ambulance, attending physician and nurse, etc. if you are so badly injured, or become so ill, that you can't come home (or get to a suitable medical facility) on a scheduled commercial passenger flight. Medical evacuations can cost tens of thousands of dollars, but are rarely necessary. Even very badly injured travellers usually can come home on regular flights after no more than a couple of weeks of emergency treatment and stabilization abroad. Some of the activities most likely to lead to a need for medical evacuation, such as scuba diving and extreme sports, are often excluded from medevac coverage. Read the fine print.
4. Trip cancellation and interruption insurance covers the cancellation or refund penalties and the cost of getting home if you have to cancel your trip, or cut it short, for specified reasons. The covered reasons vary (read the fine print), but typically include injury or illness to you, a travelling companion, or a member of your immediate family. War and terrorism may or may not be included, or may be covered only at additional charge.
5. Supplier default insurance covers any money you lose because of the bankruptcy of an airline, cruise line, tour operator, or other provider of travel services. Supplier default coverage has been drastically cut back since 11 September 2001. Some travel insurance companies no longer offer it at all, while others pick and choose which travel suppliers they will insure. Read the fine print.
# Rental car insurance covers damage or theft to a vehicle you rent (usually referred to as "collision" insurance) and/or liability to other people or vehicles you injure or damage. Many credit cards include rental car collision insurance, but not liability insurance. If you own a vehicle, your insurnace may or may not provide liability coverage when you are dirving a rented vehicle. Read the fine print. Your liability if someone is killed or injured in an accident can be much greater than the value of the vehicle.
Source of travel insurance
Where do you find this sort of insurance?
Some travel agencies and travel suppliers offer travel insurance as an option along with travels services you buy from them. For example, Hotwire.com -- as a result of a suggestion I made to their president -- began offering trip cancellation and interruption and supplier default insurance for four percent of the cost of tickets purchased from Hotwire, with a US$12 per ticket minimum. Airtreks.com, with whom I am affiliated, offers links to a selection of travel insurance policies chosen to suit the needs of long-term, independent international travelers.
Some regular insurance agents handle travel insurance, especially long-term comprehensive travel medical insurance. If you're travelling for six months or more, or if you plan to travel regularly throughout the year, it may be cheaper to include travel coverage with your regular health coverage. Check with your regular insurance agent to see what they can offer.
You can also get travel insurance from specialists in the field. These include travel insurance companies, direct providers of medevac and travel emergency services, and independent travel insurance brokers and agencies that can help you compare the offerings of different insurers. Following are some of those I know of, with the types of coverage or services they offer.
These listings are not intended as endorsements. I've heard good and bad things about almost all of these companies. This is just a list to help you get strated on your own research, in case you have difficulty finding companies that offer this sort of coverage at all.
1.
Travel insurance companies and travel service providers
* International Medical Group (IMG)
http://www.imglobal.com
Coverage: Comprehensive travel medical insurance. (Expensive but genuinely comprehensive coverage. IMG is the primary provider of medical insurance for Peace Corps volunteers, and a leading insurer of missionaries and other expatriates from the USA living and travelling in the Third and Fourth Worlds.)
* WorldNomads.com
http://www.worldnomads.com
Coverage: Bundled package including medical evacuation, emergency medical, and trip cancellation and interruption. (No supplier default coverage. Optional add-on coverage for cameras and personal electronic devices typically excluded from coverage by other policies. Based in Australia, but covers citizens of any country travelling anywhere outside their country of citizenship. Designed for long-term international travellers without other health insurance.)
* Travelex
http://www.travelex-insurance.com
Coverage: Emergency medical, medevac, trip cancellation and interruption, supplier default. (In addition to travel insurance, Travelex operates currency exchange and travel service offices in each major world region. So if you want a company with regional staff to help you if things go wrong, or if you want coverage for the default of any airline or travel supplier, you should consider the offerings from Travelex.)
* Travel Guard International
http://www.travelguard.com
Coverage: Emergency medical, medevac, trip cancellation and interruption, and supplier default. (Supplier default coverage excludes certain airlines and tour companies, but includes all those not specifically listed. Travel Guard voluntarily covered those travellers who had purchased their insurance, and whose travel plans were disrupted after 11 September 2001, even though their insurance didn't cover war and terrorism and they could legally have refused to pay. But they might not do so again)
* CSA Travel Protection
http://www.csatravelprotection.com
Coverage: Emergency medical, medevac, and trip cancellation and interruption. (No supplier default coverage.)
* Seven Corners, Inc.
http://www.sevencorners.com
Formerly "Specialty Risk International, Inc. (SRI)". Coverage: Emergency medical, medevac, trip cancellation and interruption, liability. (No supplier default coverage.) Liability coverage is an unusual optional add-on. Bundled with medevac coverage it provides a package tailored for people who already have general-purpose health insurance.
* Highway To Health
http://www.highwaytohealth.com
Coverage: Emergency medical, medevac, and trip cancellation and interruption. (No supplier default coverage.)
* Access America
http://www.accessamerica.com
Coverage: Emergency medical, medevac, and trip cancellation and interruption. (Supplier default coverage is limited to a few selected airlines and tour operators, mainly the largest and most expensive, and excludes all companies that aren't specifically listed as covered.)
* Safeware
http://www.safeware.com
The leading specialists in the USA in personal computer insurance, including laptops, peripherals, and accessories. (Standard annucal package covers theft, accidental damage, water damage, and damage in transport. Coverage offered to USA residents only, but covers damage while at home or travelling worldwide, and can be renewed while continuing to travel outside the USA, as long as you remain a Usa resident.)
* MEDJET Assistance
http://www.medjetassistance.com
Services: Emergency medical transportation. (For a fixed annual fee, MEDJET Assistance will provide air ambulance transportation to the hospital of your choice, worldwide, if you are hospitalized. That's much more generous than typical travel insurance, which only covers transportation to the nearest hospital they deem suitable -- not necessarily the one nearest your home -- and only if their doctors decide it's essential. A subscription to MEDJET Assistance will get you home if you're hospitalized. Period. If you have insurance, but it doesn't provide for medical evacuation, this may be the way to go. Note, however, that the standard MEDJET Assistance plan doesn't cover you if you are out of your home country for more than 90 days at a time. You have to pay a higher "expatriate" rate for coverage for longer stays abroad. MEDJET doesn't own or operate planes, but contracts with local air ambulance operators.)
* AirMed International
http://www.airmed.com
Services: Emergency medical transportation. (Like MEDJET, AirMed offers prepaid medical evacuation services for a flat annual fee, with a higher rate for stays of more than 90 days outside your home country. Their are two major differences: AirMed owns and operates its own planes, with its own staff -- which may or may not give better sevice than a local contractor, but may take longer to arrive from their base in the USA. Airmed only provides medevac services if, in their judgement, it is medically necessary.)
2.
Independent travel insurance brokers
Each of these brokers offers a selection of travel insurance policies from multiple insurers. Note that none of these brokers offers any policies I can find that include coverage for supplier default.
1. Comprehensive travel medical insurance is for people who don't have any other medical insurance, even at home. Since most people who can afford it have health care coverage in their home country, often through their employer, comprehensive travel medical insurance is mainly of interest to long-term travelers who've left their jobs and lost their insurance coverage at home, or to those living and working outside their country of citizenship or permanent residence.
2. Emergency travel medical insurance is for people who have medical coverage at home, but whose health plan at home doesn't cover them while they are travelling. Emergency travel medical insurance only covers emergency services abroad; once you get home, you're on your own (or presumably, back under your regular home coverage) for any necessary follow-up treatment or continuing care. Most health insurance plans and health maintenance organizations in the USA include their own provisions for emergency care while abroad, at least for trips of less than 30 days. Check with your current insurer or HMO before you waste money on an emergency travel medical plan that duplicates your existing coverage.
3. Medical evacuation (medevac) insurance covers the cost of an air ambulance, attending physician and nurse, etc. if you are so badly injured, or become so ill, that you can't come home (or get to a suitable medical facility) on a scheduled commercial passenger flight. Medical evacuations can cost tens of thousands of dollars, but are rarely necessary. Even very badly injured travellers usually can come home on regular flights after no more than a couple of weeks of emergency treatment and stabilization abroad. Some of the activities most likely to lead to a need for medical evacuation, such as scuba diving and extreme sports, are often excluded from medevac coverage. Read the fine print.
4. Trip cancellation and interruption insurance covers the cancellation or refund penalties and the cost of getting home if you have to cancel your trip, or cut it short, for specified reasons. The covered reasons vary (read the fine print), but typically include injury or illness to you, a travelling companion, or a member of your immediate family. War and terrorism may or may not be included, or may be covered only at additional charge.
5. Supplier default insurance covers any money you lose because of the bankruptcy of an airline, cruise line, tour operator, or other provider of travel services. Supplier default coverage has been drastically cut back since 11 September 2001. Some travel insurance companies no longer offer it at all, while others pick and choose which travel suppliers they will insure. Read the fine print.
# Rental car insurance covers damage or theft to a vehicle you rent (usually referred to as "collision" insurance) and/or liability to other people or vehicles you injure or damage. Many credit cards include rental car collision insurance, but not liability insurance. If you own a vehicle, your insurnace may or may not provide liability coverage when you are dirving a rented vehicle. Read the fine print. Your liability if someone is killed or injured in an accident can be much greater than the value of the vehicle.
Source of travel insurance
Where do you find this sort of insurance?
Some travel agencies and travel suppliers offer travel insurance as an option along with travels services you buy from them. For example, Hotwire.com -- as a result of a suggestion I made to their president -- began offering trip cancellation and interruption and supplier default insurance for four percent of the cost of tickets purchased from Hotwire, with a US$12 per ticket minimum. Airtreks.com, with whom I am affiliated, offers links to a selection of travel insurance policies chosen to suit the needs of long-term, independent international travelers.
Some regular insurance agents handle travel insurance, especially long-term comprehensive travel medical insurance. If you're travelling for six months or more, or if you plan to travel regularly throughout the year, it may be cheaper to include travel coverage with your regular health coverage. Check with your regular insurance agent to see what they can offer.
You can also get travel insurance from specialists in the field. These include travel insurance companies, direct providers of medevac and travel emergency services, and independent travel insurance brokers and agencies that can help you compare the offerings of different insurers. Following are some of those I know of, with the types of coverage or services they offer.
These listings are not intended as endorsements. I've heard good and bad things about almost all of these companies. This is just a list to help you get strated on your own research, in case you have difficulty finding companies that offer this sort of coverage at all.
1.
Travel insurance companies and travel service providers
* International Medical Group (IMG)
http://www.imglobal.com
Coverage: Comprehensive travel medical insurance. (Expensive but genuinely comprehensive coverage. IMG is the primary provider of medical insurance for Peace Corps volunteers, and a leading insurer of missionaries and other expatriates from the USA living and travelling in the Third and Fourth Worlds.)
* WorldNomads.com
http://www.worldnomads.com
Coverage: Bundled package including medical evacuation, emergency medical, and trip cancellation and interruption. (No supplier default coverage. Optional add-on coverage for cameras and personal electronic devices typically excluded from coverage by other policies. Based in Australia, but covers citizens of any country travelling anywhere outside their country of citizenship. Designed for long-term international travellers without other health insurance.)
* Travelex
http://www.travelex-insurance.com
Coverage: Emergency medical, medevac, trip cancellation and interruption, supplier default. (In addition to travel insurance, Travelex operates currency exchange and travel service offices in each major world region. So if you want a company with regional staff to help you if things go wrong, or if you want coverage for the default of any airline or travel supplier, you should consider the offerings from Travelex.)
* Travel Guard International
http://www.travelguard.com
Coverage: Emergency medical, medevac, trip cancellation and interruption, and supplier default. (Supplier default coverage excludes certain airlines and tour companies, but includes all those not specifically listed. Travel Guard voluntarily covered those travellers who had purchased their insurance, and whose travel plans were disrupted after 11 September 2001, even though their insurance didn't cover war and terrorism and they could legally have refused to pay. But they might not do so again)
* CSA Travel Protection
http://www.csatravelprotection.com
Coverage: Emergency medical, medevac, and trip cancellation and interruption. (No supplier default coverage.)
* Seven Corners, Inc.
http://www.sevencorners.com
Formerly "Specialty Risk International, Inc. (SRI)". Coverage: Emergency medical, medevac, trip cancellation and interruption, liability. (No supplier default coverage.) Liability coverage is an unusual optional add-on. Bundled with medevac coverage it provides a package tailored for people who already have general-purpose health insurance.
* Highway To Health
http://www.highwaytohealth.com
Coverage: Emergency medical, medevac, and trip cancellation and interruption. (No supplier default coverage.)
* Access America
http://www.accessamerica.com
Coverage: Emergency medical, medevac, and trip cancellation and interruption. (Supplier default coverage is limited to a few selected airlines and tour operators, mainly the largest and most expensive, and excludes all companies that aren't specifically listed as covered.)
* Safeware
http://www.safeware.com
The leading specialists in the USA in personal computer insurance, including laptops, peripherals, and accessories. (Standard annucal package covers theft, accidental damage, water damage, and damage in transport. Coverage offered to USA residents only, but covers damage while at home or travelling worldwide, and can be renewed while continuing to travel outside the USA, as long as you remain a Usa resident.)
* MEDJET Assistance
http://www.medjetassistance.com
Services: Emergency medical transportation. (For a fixed annual fee, MEDJET Assistance will provide air ambulance transportation to the hospital of your choice, worldwide, if you are hospitalized. That's much more generous than typical travel insurance, which only covers transportation to the nearest hospital they deem suitable -- not necessarily the one nearest your home -- and only if their doctors decide it's essential. A subscription to MEDJET Assistance will get you home if you're hospitalized. Period. If you have insurance, but it doesn't provide for medical evacuation, this may be the way to go. Note, however, that the standard MEDJET Assistance plan doesn't cover you if you are out of your home country for more than 90 days at a time. You have to pay a higher "expatriate" rate for coverage for longer stays abroad. MEDJET doesn't own or operate planes, but contracts with local air ambulance operators.)
* AirMed International
http://www.airmed.com
Services: Emergency medical transportation. (Like MEDJET, AirMed offers prepaid medical evacuation services for a flat annual fee, with a higher rate for stays of more than 90 days outside your home country. Their are two major differences: AirMed owns and operates its own planes, with its own staff -- which may or may not give better sevice than a local contractor, but may take longer to arrive from their base in the USA. Airmed only provides medevac services if, in their judgement, it is medically necessary.)
2.
Independent travel insurance brokers
Each of these brokers offers a selection of travel insurance policies from multiple insurers. Note that none of these brokers offers any policies I can find that include coverage for supplier default.
Travel Insurance, Annual Travel Insurance, Holiday Insurance
ANNUAL TRAVEL INSURANCE
This is ideal for frequent travelers because it covers unlimited trips annually with 17days free ski insurance for just US $210 per adult. It is also a cost effective family travel insurance with a premium of just US $396 for 2 adults and up to 4 children. Stay up to a maximum of 45 days per trip.
SINGLE TRIP TRAVEL INSURANCE
Provides coverage for one-off trips ranging from 5 up to 180 days, for longer coverage please fill out the Contact Us form for favorable rates. You also have the option of adding coverage for Ski Insurance & Scuba Diving Insurance. This policy is also suited for long business trips.
WINTER SPORTS TRAVEL INSURANCE
Provides coverage for sports like skiing, snow boarding, and ice skating. If you travel frequently we suggest you consider taking our Annual Multi-Trip Insurance coverage, which includes 17 days of FREE Ski Insurance (Winter Sports) Coverage.
WATER SPORTS TRAVEL INSURANCE
Provides coverage for scuba-diving with air bottles to a depth of up to 30 meters. It also covers you for surface water sports, other than white water canoeing and rafting.
HOLIDAYGUARD TRAVEL INSURANCE VALID FOR INTERNATIONAL TRAVEL ONLY!
This is ideal for frequent travelers because it covers unlimited trips annually with 17days free ski insurance for just US $210 per adult. It is also a cost effective family travel insurance with a premium of just US $396 for 2 adults and up to 4 children. Stay up to a maximum of 45 days per trip.
SINGLE TRIP TRAVEL INSURANCE
Provides coverage for one-off trips ranging from 5 up to 180 days, for longer coverage please fill out the Contact Us form for favorable rates. You also have the option of adding coverage for Ski Insurance & Scuba Diving Insurance. This policy is also suited for long business trips.
WINTER SPORTS TRAVEL INSURANCE
Provides coverage for sports like skiing, snow boarding, and ice skating. If you travel frequently we suggest you consider taking our Annual Multi-Trip Insurance coverage, which includes 17 days of FREE Ski Insurance (Winter Sports) Coverage.
WATER SPORTS TRAVEL INSURANCE
Provides coverage for scuba-diving with air bottles to a depth of up to 30 meters. It also covers you for surface water sports, other than white water canoeing and rafting.
HOLIDAYGUARD TRAVEL INSURANCE VALID FOR INTERNATIONAL TRAVEL ONLY!
Do You Need Supplemental Health Insurance?
If you had an accident and were hospitalized tomorrow, could you cover all the deductibles, co-pays and lost income out of pocket without strain? Chances are that even if you have excellent health insurance, an unexpected hospitalization or medical emergency could hit you hard in the pocketbook. Supplemental health insurance can help cover the gaps that your standard health insurance policy leaves open, as well as provide cash for living expenses and replace lost wages.
How is supplemental health insurance different than standard health insurance?
Standard health insurance policies pay your doctor or health provider for services provided to you. You may be responsible for a co-pay or a deductible, and your provider typically handles all the insurance paperwork. Your health insurance benefits go directly to the health care provider.
By contrast, supplemental health insurance policies typically pay you a fixed amount for specific incidents when you use health care services. For example, if you slip and sprain your ankle, your standard health insurance policy will pay your doctor’s bill, but you will still be responsible for the co-pay or deductible. Your doctor’s office will bill your insurance company for its money, and bill you for any excess. If you have a supplemental health insurance policy that pays out $50 for a doctor’s visit, you can make a claim on your policy and the insurance company will send you a check for $50 which you can use toward the deductible or co-pay, or put toward other expenses.
What benefits can I get under a supplemental health insurance policy?
The benefits to which you are entitled under a supplemental health insurance policy depend on the individual policy. There are many different types of supplemental insurance policies, each designed for different purposes. Some, like the well-known Aflac, are meant to help cover expenses that typical health insurance policies leave lacking by paying you cash when you have to visit the doctor, are hospitalized or are out of work because of illness or injury. Others are designed specifically to help with prescription costs, or to pay benefits for catastrophic illnesses or disabling accidents. Some are strictly hospitalization polices, and some designed to pay for long-term care. Many supplemental health insurance policies are designed specifically to help cover the gaps left by traditional Medicare health insurance.
Who should carry supplemental health insurance?
Supplemental health insurance is not a necessity for everyone, but it can help protect you financially if you are not prepared to meet unexpected medical expenses. Typically, you should consider supplemental health insurance if you are self-employed, on Medicare, have small children or are financially unprepared to deal with large medical bills or time off from work due to illness or injury.
What kind of supplemental health insurance is best for me?
The best supplemental health insurance policy is different for each person, and will depend on your specific needs and circumstances. For a young family, for instance, a supplemental insurance policy that pays benefits for wellness care can be enormously helpful, as can a hospital indemnity policy that will pay out a cash benefit if a parent is unable to work because they are hospitalized or out of work due to illness. Older adults should consider whether a long-term care policy or a supplemental policy that pays out a lump sum for catastrophic illness will be useful. Older adults and families may also find that a prescription benefit plan is essential to meet medical expenses that aren’t covered by Medicare and traditional insurance.
How is supplemental health insurance different than standard health insurance?
Standard health insurance policies pay your doctor or health provider for services provided to you. You may be responsible for a co-pay or a deductible, and your provider typically handles all the insurance paperwork. Your health insurance benefits go directly to the health care provider.
By contrast, supplemental health insurance policies typically pay you a fixed amount for specific incidents when you use health care services. For example, if you slip and sprain your ankle, your standard health insurance policy will pay your doctor’s bill, but you will still be responsible for the co-pay or deductible. Your doctor’s office will bill your insurance company for its money, and bill you for any excess. If you have a supplemental health insurance policy that pays out $50 for a doctor’s visit, you can make a claim on your policy and the insurance company will send you a check for $50 which you can use toward the deductible or co-pay, or put toward other expenses.
What benefits can I get under a supplemental health insurance policy?
The benefits to which you are entitled under a supplemental health insurance policy depend on the individual policy. There are many different types of supplemental insurance policies, each designed for different purposes. Some, like the well-known Aflac, are meant to help cover expenses that typical health insurance policies leave lacking by paying you cash when you have to visit the doctor, are hospitalized or are out of work because of illness or injury. Others are designed specifically to help with prescription costs, or to pay benefits for catastrophic illnesses or disabling accidents. Some are strictly hospitalization polices, and some designed to pay for long-term care. Many supplemental health insurance policies are designed specifically to help cover the gaps left by traditional Medicare health insurance.
Who should carry supplemental health insurance?
Supplemental health insurance is not a necessity for everyone, but it can help protect you financially if you are not prepared to meet unexpected medical expenses. Typically, you should consider supplemental health insurance if you are self-employed, on Medicare, have small children or are financially unprepared to deal with large medical bills or time off from work due to illness or injury.
What kind of supplemental health insurance is best for me?
The best supplemental health insurance policy is different for each person, and will depend on your specific needs and circumstances. For a young family, for instance, a supplemental insurance policy that pays benefits for wellness care can be enormously helpful, as can a hospital indemnity policy that will pay out a cash benefit if a parent is unable to work because they are hospitalized or out of work due to illness. Older adults should consider whether a long-term care policy or a supplemental policy that pays out a lump sum for catastrophic illness will be useful. Older adults and families may also find that a prescription benefit plan is essential to meet medical expenses that aren’t covered by Medicare and traditional insurance.
Renters insurance in the dorms
Many people get renters insurance because they understand that even if they don't own the property, they might have things inside that property that are worth a lot of money. Therefore, it is important that you are aware of the fact that when you are renting a property, you want to have the items that are in that property covered by renters insurance. Many people wonder about the dorms, and if renters insurance will cover you while you are in the dorms.
Renters insurance is usually meant for an apartment or rental home. Therefore, if you are student in the dorms you want to check with the rental insurance company and see if they have a separate student insurance policy that you can get to protect your items while you are at school. Even if you aren't in a rental property, you still want to protect the things that you own. Therefore, student insurance might be something that you want to think about. A dorm is just like a rental home, in that it is somewhere that you can live while you are going to school. It is still susceptible to theft, fire, and water damage, so most insurance companies will offer a type of renters insurance that will work on someone living in the dorms.
If you are interested in renters insurance, and you are less than 18 years old, you should talk to your parents about insurance. Chances are that they will be able to get you on their insurance policies, which will mean that you will be able to have your belongings covered while you are at school. However, remember that in order to make this type of claim for renters insurance, you have to make sure that you are always locking your door, and keeping your belongings somewhere safe. While you are in the dorms, you will want to be sure that you keep your most expensive items at home with your parents, so that if your dorm room is broken into, you will be able to not have everything that you love stolen from you.
If you are not able to get renters insurance as it is, you will probably be able to get regular insurance that you can use for your dorm. This is often easier because the insurance company will offer you or your parents a good deal a small insurance policy ,just enough to cover the items that are in your dorm room. This way, you will be able to have your belongings covered. It is often easier to cover your belongings then to worry about covering your dorm room, because you will often be changing the places where you live from semester to semester. Renters insurance might have to be redone in a situation like this, but with a regular insurance policy you will not have to worry about redoing your insurance, you will simply keep it on the items that it covers, no matter where those items are. This is often the easiest thing for students to do.
Renters insurance is usually meant for an apartment or rental home. Therefore, if you are student in the dorms you want to check with the rental insurance company and see if they have a separate student insurance policy that you can get to protect your items while you are at school. Even if you aren't in a rental property, you still want to protect the things that you own. Therefore, student insurance might be something that you want to think about. A dorm is just like a rental home, in that it is somewhere that you can live while you are going to school. It is still susceptible to theft, fire, and water damage, so most insurance companies will offer a type of renters insurance that will work on someone living in the dorms.
If you are interested in renters insurance, and you are less than 18 years old, you should talk to your parents about insurance. Chances are that they will be able to get you on their insurance policies, which will mean that you will be able to have your belongings covered while you are at school. However, remember that in order to make this type of claim for renters insurance, you have to make sure that you are always locking your door, and keeping your belongings somewhere safe. While you are in the dorms, you will want to be sure that you keep your most expensive items at home with your parents, so that if your dorm room is broken into, you will be able to not have everything that you love stolen from you.
If you are not able to get renters insurance as it is, you will probably be able to get regular insurance that you can use for your dorm. This is often easier because the insurance company will offer you or your parents a good deal a small insurance policy ,just enough to cover the items that are in your dorm room. This way, you will be able to have your belongings covered. It is often easier to cover your belongings then to worry about covering your dorm room, because you will often be changing the places where you live from semester to semester. Renters insurance might have to be redone in a situation like this, but with a regular insurance policy you will not have to worry about redoing your insurance, you will simply keep it on the items that it covers, no matter where those items are. This is often the easiest thing for students to do.
How to Find the Best Renters Insurance
If you’re renting an apartment, condo, or house instead of purchasing your own home, you need to contact an insurance representative so that your belongings are covered. Remember, your landlord’s insurance on the property only covers the property itself, not your belongings. However, renters insurance varies greatly from one company to the next. How do you find the best renters insurance? Use the following tips when you’re looking for the best renters insurance for you.
Shop online for renters insurance.
While there are both online and offline insurance companies to consider, by shopping online, you can do the work more quickly. Shopping online also gives you the advantage of doing your rate comparison when you have time, even if that’s not during normal business hours. Online, you can shop for insurance even on the weekends and in the evening when traditional insurance companies have their offices close. Of course, it is probably a good idea to also shop around offline, but shopping online can give you a good start to understanding the averages prices you can expect in your neighborhood.
Consider your deductible carefully.
When it comes to renters insurance, you should always calculate what you’ll need to have your possessions covered if, for example, the entire building would burn to the ground. For most people, having a higher deductible is fine. If you can afford to pay the first $3,000, $5,000, or even $10,000, your monthly premium will be much, much lower. At the same time, however, don’t cut yourself short. If you have a very high deductible and later can’t afford to put that kind of money toward replacing possessions, you might not see any kind of money from your insurance company until you do.
Look for a company that’s friendly and helpful.
Buying renters insurance is tough. Insurance is something that many people don’t 100% understand, so you’ll be relying on an insurance representative to help you decide what kind of coverage is right for you. You should go with an insurance company that you representatives that are willing to help, not just drones who want to get you off the phone as quickly as possible. Some insurance companies don’t even have representatives to help you until after you make a purchase – they only have web pages and automated phone services! Instead, look for a company that is friendly and helpful in answering your questions.
Remember, not every insurance company is built the same way. While you’ll undoubtedly have dozens and maybe even hundreds of options for renters insurance, not all of them will be the right choice for you. In order to find the best choice possible, shop around and closely compare the services they offer. While price is important, it is also important that you find a company that fits nicely with what you need out of your insurance. Renters insurance isn’t a huge expense, but it is best to give your business to a company that you trust.
Shop online for renters insurance.
While there are both online and offline insurance companies to consider, by shopping online, you can do the work more quickly. Shopping online also gives you the advantage of doing your rate comparison when you have time, even if that’s not during normal business hours. Online, you can shop for insurance even on the weekends and in the evening when traditional insurance companies have their offices close. Of course, it is probably a good idea to also shop around offline, but shopping online can give you a good start to understanding the averages prices you can expect in your neighborhood.
Consider your deductible carefully.
When it comes to renters insurance, you should always calculate what you’ll need to have your possessions covered if, for example, the entire building would burn to the ground. For most people, having a higher deductible is fine. If you can afford to pay the first $3,000, $5,000, or even $10,000, your monthly premium will be much, much lower. At the same time, however, don’t cut yourself short. If you have a very high deductible and later can’t afford to put that kind of money toward replacing possessions, you might not see any kind of money from your insurance company until you do.
Look for a company that’s friendly and helpful.
Buying renters insurance is tough. Insurance is something that many people don’t 100% understand, so you’ll be relying on an insurance representative to help you decide what kind of coverage is right for you. You should go with an insurance company that you representatives that are willing to help, not just drones who want to get you off the phone as quickly as possible. Some insurance companies don’t even have representatives to help you until after you make a purchase – they only have web pages and automated phone services! Instead, look for a company that is friendly and helpful in answering your questions.
Remember, not every insurance company is built the same way. While you’ll undoubtedly have dozens and maybe even hundreds of options for renters insurance, not all of them will be the right choice for you. In order to find the best choice possible, shop around and closely compare the services they offer. While price is important, it is also important that you find a company that fits nicely with what you need out of your insurance. Renters insurance isn’t a huge expense, but it is best to give your business to a company that you trust.
Renters Insurance for College Students Purchased Term by Term
College students are one of the biggest groups of people that have renters insurance. This is because college students usually do not own their homes and are not usually able to do so. Therefore, they are able to be renters, and this means that they are able to get renters insurance.
There are several ways that college students can get renters insurance. One of the things that they can do is make sure that they are buying renters insurance term by term. It is important to remember that most college students live their lives term by term. Each January and each September marks a new chapter in the life of a college student. Therefore, it only makes sense that the college students are able to get their renters insurance term by term.
Term by term renters insurance is something that you can do for college students. This allows them to be able to readjust their renters insurance with each term of school. The reason that this is a good idea is that each term can be different for a college student. Sometimes students go to different towns or different schools for some of their schooling. Therefore, one semester they might be living in a place that is much more prone to robbery than the semester before, and this means that they might want to readjust their renters insurance to cover them a little bit better. It is important that they are able to do this because they can make sure that each semester they have the exact coverage that they need for their belongings.
When a student is doing a term by term renters insurance program, it is important that they are able to look at the different parts of the semester and what their needs will be. The term by term renters insurance works best with a student who is able to take responsibility for doing this each semester, because it means that they will have to do paper work and renew their renters insurance each time they start a new term at school. This is something that is important to remember. If a student forges to renew their renters insurance, they might not be eligible to cash it in if something happens to their belongings. Therefore, it is important that if a student decides to do term by term renters insurance they are responsible enough to do this each semester.
When it comes right down to it, it is important that students are able to get term by term insurance as well as they can and are able to be responsible. You want to be sure that you are able to take care of this and that you will use it in the same way as the regular renters insurance. You want to be sure that you are keeping track of the items that you have in each of your rental properties. Be sure that you keep very close track of what you are doing with your belongings and what you have in each home.
There are several ways that college students can get renters insurance. One of the things that they can do is make sure that they are buying renters insurance term by term. It is important to remember that most college students live their lives term by term. Each January and each September marks a new chapter in the life of a college student. Therefore, it only makes sense that the college students are able to get their renters insurance term by term.
Term by term renters insurance is something that you can do for college students. This allows them to be able to readjust their renters insurance with each term of school. The reason that this is a good idea is that each term can be different for a college student. Sometimes students go to different towns or different schools for some of their schooling. Therefore, one semester they might be living in a place that is much more prone to robbery than the semester before, and this means that they might want to readjust their renters insurance to cover them a little bit better. It is important that they are able to do this because they can make sure that each semester they have the exact coverage that they need for their belongings.
When a student is doing a term by term renters insurance program, it is important that they are able to look at the different parts of the semester and what their needs will be. The term by term renters insurance works best with a student who is able to take responsibility for doing this each semester, because it means that they will have to do paper work and renew their renters insurance each time they start a new term at school. This is something that is important to remember. If a student forges to renew their renters insurance, they might not be eligible to cash it in if something happens to their belongings. Therefore, it is important that if a student decides to do term by term renters insurance they are responsible enough to do this each semester.
When it comes right down to it, it is important that students are able to get term by term insurance as well as they can and are able to be responsible. You want to be sure that you are able to take care of this and that you will use it in the same way as the regular renters insurance. You want to be sure that you are keeping track of the items that you have in each of your rental properties. Be sure that you keep very close track of what you are doing with your belongings and what you have in each home.
Insuring Your Home Business Equipment
The internet has made it easier than ever for people to work from home, either in their own home-based businesses or as an employee working off-premises in a telecommuting position. While this is a good thing for most home business owners, it also opens the typical home business owner to losses they don’t expect. If you use a computer, specialized business equipment, tools for your business or even a fax machine, you may be in for an unpleasant surprise if they are lost, stolen or damaged.
The simple fact is that many homeowners expect their homeowners’ insurance to cover everything in their homes. That may not be the case. If you run a home business and use items and equipment at home for business purposes, chances are that your coverage for that equipment is severely limited. Most typical homeowner policies limit coverage for business equipment to no more than $2,500 – for everything. If the business property is not in the home when it is damaged, lost or stolen, you may only be able to collect 10 percent of the value. That means that if your $3,000 laptop, which you use for business recordkeeping, is stolen from your car, the most you can collect for it is $250 – unless you’ve had the foresight to insure it separately or cover it with a rider on your homeowner or car insurance policy.
When you’re considering insurance for your home business, it’s important to discuss your needs with your insurance agent. There are many types of coverage that you might not consider, but with which your agent will be familiar. In addition, there are pieces of equipment that you might not think of as ‘business equipment’, but that your insurance company most assuredly will. Some of the important items and things you should consider when purchasing insurance for your home business equipment are:
1. You may be able to increase coverage for business equipment with a rider or endorsement on your current homeowners’ insurance policy.
Talk to your insurance agent about the possibility of getting a rider on your current policy to cover specific business equipment in your home. For just a few dollars a month, you may be able to increase the coverage for the computer and communications equipment that you use for business purposes, or even for the furnishings in your home business office.
2. Don’t forget the “tools of the trade” that you keep at home.
Even those who don’t work at home often bring their business tools home with them. This goes beyond carting your laptop back and forth with you from the office. A chef who brings his knives home, a barber who carries his kit back and forth – or just brings it home to cut the kids’ hair – could find themselves laying out thousands of dollars to replace those pieces if they’re lost or stolen in a burglary. A rider on your standard homeowner policy should be enough to cover business equipment that you occasionally bring home with you.
3. If you work full time from home, consider purchasing in-home business insurance.
When you work exclusively from home, replacing your business equipment may be just the tip of the iceberg. Home business insurance is designed especially for those who work from home. It will cover your equipment and tools, as well as increasing your liability coverage to insure you against injuries to those who are in your home for business purposes and insuring you for interruption of business. It’s a worthwhile investment if the loss of your laptop or tools will cost you money because you can’t work without them.
4. Don’t forget your inventory.
One of the most common home-based business types is sales. Whether you sell cosmetics to friends or have your own home-based party business, one of your most valuable assets is your at-home inventory. Many sales representatives have several thousand dollars worth of inventory on hand for demonstrations and sales. A fire or burst pipe could end up costing you thousands if your insurance doesn’t cover it.
The simple fact is that many homeowners expect their homeowners’ insurance to cover everything in their homes. That may not be the case. If you run a home business and use items and equipment at home for business purposes, chances are that your coverage for that equipment is severely limited. Most typical homeowner policies limit coverage for business equipment to no more than $2,500 – for everything. If the business property is not in the home when it is damaged, lost or stolen, you may only be able to collect 10 percent of the value. That means that if your $3,000 laptop, which you use for business recordkeeping, is stolen from your car, the most you can collect for it is $250 – unless you’ve had the foresight to insure it separately or cover it with a rider on your homeowner or car insurance policy.
When you’re considering insurance for your home business, it’s important to discuss your needs with your insurance agent. There are many types of coverage that you might not consider, but with which your agent will be familiar. In addition, there are pieces of equipment that you might not think of as ‘business equipment’, but that your insurance company most assuredly will. Some of the important items and things you should consider when purchasing insurance for your home business equipment are:
1. You may be able to increase coverage for business equipment with a rider or endorsement on your current homeowners’ insurance policy.
Talk to your insurance agent about the possibility of getting a rider on your current policy to cover specific business equipment in your home. For just a few dollars a month, you may be able to increase the coverage for the computer and communications equipment that you use for business purposes, or even for the furnishings in your home business office.
2. Don’t forget the “tools of the trade” that you keep at home.
Even those who don’t work at home often bring their business tools home with them. This goes beyond carting your laptop back and forth with you from the office. A chef who brings his knives home, a barber who carries his kit back and forth – or just brings it home to cut the kids’ hair – could find themselves laying out thousands of dollars to replace those pieces if they’re lost or stolen in a burglary. A rider on your standard homeowner policy should be enough to cover business equipment that you occasionally bring home with you.
3. If you work full time from home, consider purchasing in-home business insurance.
When you work exclusively from home, replacing your business equipment may be just the tip of the iceberg. Home business insurance is designed especially for those who work from home. It will cover your equipment and tools, as well as increasing your liability coverage to insure you against injuries to those who are in your home for business purposes and insuring you for interruption of business. It’s a worthwhile investment if the loss of your laptop or tools will cost you money because you can’t work without them.
4. Don’t forget your inventory.
One of the most common home-based business types is sales. Whether you sell cosmetics to friends or have your own home-based party business, one of your most valuable assets is your at-home inventory. Many sales representatives have several thousand dollars worth of inventory on hand for demonstrations and sales. A fire or burst pipe could end up costing you thousands if your insurance doesn’t cover it.
Who Should Insure Their Hobby Equipment?
Do you need insurance for your crafting and hobby equipment? Many of us have invested significant amounts of money in the pursuit of our leisure time activities. Unlike those who collect things for fun – stamps, coins and other valuables – hobbyists, crafters and sports enthusiasts seldom think of their equipment in monetary terms, but they should. Think about your favorite activities and the things you own to help you enjoy them. If they were lost or damaged in a fire or flood, could you replace them easily? If not, you may want to consider an insurance rider specifically to cover those items.
But what about my homeowners insurance?
Some of your equipment may already be covered under your contents cover by your homeowner insurance. Before you talk to your insurance agent about a rider or extension of coverage, go over your policy and decide if it is adequate to cover replacement of your most important pieces of leisure and hobby equipment. There are a few considerations that are important in making that determination:
What is the value of each piece of equipment?
Most homeowner policies limit the amount you can claim per single item. If that limit is $1,500 and you own a camera that will cost $1,800 to replace, you’ll only recover $1.500 for it. You’re on your own for the remaining $300. The easiest way to deal with a limit that’s too low if you own several expensive pieces of equipment is to increase the coverage limit. It will be less expensive than separate riders as well.
Where do you store your equipment and supplies?
Equipment and items that are stored outside your house, in a detached garage, shed or outbuilding, for instance, may not be completely covered by your insurance policy. If you have a home workshop or office in the garage or former shed, talk to your agent about an extension to cover property stored there.
Are some things covered by separate insurance?
Some items may be covered by other insurance that kicks in when you register a product or warranty, or by insurance provided as a perk with purchases on a particular credit card. Check the coverage before you go to the expense of adding an unnecessary rider.
Hobby and Leisure Supplies and Equipment
Most people consider the big ticket items when totaling insurance – game consoles, ski equipment, mountain bike, digital camera. Many hobbyists, crafters and sports enthusiasts also build up quite a collection of smaller ticket items related to their interest. A fly fisherman, for instance, may have built up an impressive collection of flies and tying supplies, none of them very expensive on their own. Taken as a whole, however, they could cost several hundred or even thousand dollars to replace. While you don’t need special riders to cover those things, it is important to have an inventory of sorts to help evaluate your loss in case of an accident or misadventure.
The same holds true for many other hobbies. A fire or break-in could leave you facing the expense of replacing a few thousand dollars worth relatively inexpensive power tools or inventories of craft papers, fabrics and yarns. Your insurance company isn’t likely to pay out that sort of cash for ‘craft supplies’ unless you can back up your claim. An up-to-date inventory of supplies on hand may seem like an unnecessary annoyance, but it’s not difficult to keep up to date once you’ve spent a few hours setting one up.
But what about my homeowners insurance?
Some of your equipment may already be covered under your contents cover by your homeowner insurance. Before you talk to your insurance agent about a rider or extension of coverage, go over your policy and decide if it is adequate to cover replacement of your most important pieces of leisure and hobby equipment. There are a few considerations that are important in making that determination:
What is the value of each piece of equipment?
Most homeowner policies limit the amount you can claim per single item. If that limit is $1,500 and you own a camera that will cost $1,800 to replace, you’ll only recover $1.500 for it. You’re on your own for the remaining $300. The easiest way to deal with a limit that’s too low if you own several expensive pieces of equipment is to increase the coverage limit. It will be less expensive than separate riders as well.
Where do you store your equipment and supplies?
Equipment and items that are stored outside your house, in a detached garage, shed or outbuilding, for instance, may not be completely covered by your insurance policy. If you have a home workshop or office in the garage or former shed, talk to your agent about an extension to cover property stored there.
Are some things covered by separate insurance?
Some items may be covered by other insurance that kicks in when you register a product or warranty, or by insurance provided as a perk with purchases on a particular credit card. Check the coverage before you go to the expense of adding an unnecessary rider.
Hobby and Leisure Supplies and Equipment
Most people consider the big ticket items when totaling insurance – game consoles, ski equipment, mountain bike, digital camera. Many hobbyists, crafters and sports enthusiasts also build up quite a collection of smaller ticket items related to their interest. A fly fisherman, for instance, may have built up an impressive collection of flies and tying supplies, none of them very expensive on their own. Taken as a whole, however, they could cost several hundred or even thousand dollars to replace. While you don’t need special riders to cover those things, it is important to have an inventory of sorts to help evaluate your loss in case of an accident or misadventure.
The same holds true for many other hobbies. A fire or break-in could leave you facing the expense of replacing a few thousand dollars worth relatively inexpensive power tools or inventories of craft papers, fabrics and yarns. Your insurance company isn’t likely to pay out that sort of cash for ‘craft supplies’ unless you can back up your claim. An up-to-date inventory of supplies on hand may seem like an unnecessary annoyance, but it’s not difficult to keep up to date once you’ve spent a few hours setting one up.
How Much Homeowners Insurance Do I Need?
We all know by now that homeowners insurance is something that all homeowners need
to protect their investments. Of course, for mortgage holders, the lenders who gave the money to purchase the home will require you to have homeowners insurance. Even for people who own their home without any debts or liens, the big question is, “how much homeowners insurance is needed?” – Let’s explore what level of insurance you will need for your home to ensure you are adequately protected.
Generally speaking, you need to purchase homeowners insurance that will cover:
The replacement cost of your home to 100 per cent of its value. Most insurance agents, brokers and companies will recommend to home owners and buyers that they insure the house for 100 per cent replacement cost. This will cover the rebuilding of your home, minus the cost of the land. This replacement cost value is not how much your home is worth in the real estate market, such as it would be if you sold it, but rather the cost to rebuild your home where it stands now at the current costs of construction. There is the option to purchase 80 per cent replacement cost coverage, and this homeowners insurance is much cheaper than 100 per cent coverage, however, if you do have a loss, the amount that you recover will be considerably less and can leave you with out of pocket expenses to replace and rebuild your home. It’s important that you review the current costs of construction and update your homeowners insurance regularly; however your agent/broker/company should do this for you yearly when your insurance policy renews.
The full contents of your home. This part of a homeowner’s insurance policy is called personal property coverage. This covers your furniture and possessions for the most part, but can also include jewelry, paintings, electronic equipment, etc, up to a certain value. However, it’s important that you double check with your insurance company and your policy what is and isn’t covered with your personal property coverage and what the upper limit is that you can claim in these categories. In general, your insurance company will assume that the possessions are worth approximately 50 per cent of the value of your home that you’ve insured it for. It may be best to do a full inventory of your household items and their approximate values to give to your insurance company so they can adequately insure your contents.
The cost of living elsewhere if you experience a loss. If you do experience a loss in your home, chances are you will have to reside elsewhere while your home is being rebuilt or repaired. Most homeowner’s insurance policies will include coverage for hotels, living expenses and meals that you will incur the cost for while your home is being repaired or rebuilt.
Liability. This part of a homeowners insurance policy covers you in the event that someone else is hurt on your property or in your home, or if something around your home or in your home causes damage to someone else’s property. Liability coverage will also cover legal bills if you are sued for any of these cases.
Be sure to speak with your insurance agent about what you are covered for, specifically, to make sure that your policy is adequate coverage for you, your contents and your home.
to protect their investments. Of course, for mortgage holders, the lenders who gave the money to purchase the home will require you to have homeowners insurance. Even for people who own their home without any debts or liens, the big question is, “how much homeowners insurance is needed?” – Let’s explore what level of insurance you will need for your home to ensure you are adequately protected.
Generally speaking, you need to purchase homeowners insurance that will cover:
The replacement cost of your home to 100 per cent of its value. Most insurance agents, brokers and companies will recommend to home owners and buyers that they insure the house for 100 per cent replacement cost. This will cover the rebuilding of your home, minus the cost of the land. This replacement cost value is not how much your home is worth in the real estate market, such as it would be if you sold it, but rather the cost to rebuild your home where it stands now at the current costs of construction. There is the option to purchase 80 per cent replacement cost coverage, and this homeowners insurance is much cheaper than 100 per cent coverage, however, if you do have a loss, the amount that you recover will be considerably less and can leave you with out of pocket expenses to replace and rebuild your home. It’s important that you review the current costs of construction and update your homeowners insurance regularly; however your agent/broker/company should do this for you yearly when your insurance policy renews.
The full contents of your home. This part of a homeowner’s insurance policy is called personal property coverage. This covers your furniture and possessions for the most part, but can also include jewelry, paintings, electronic equipment, etc, up to a certain value. However, it’s important that you double check with your insurance company and your policy what is and isn’t covered with your personal property coverage and what the upper limit is that you can claim in these categories. In general, your insurance company will assume that the possessions are worth approximately 50 per cent of the value of your home that you’ve insured it for. It may be best to do a full inventory of your household items and their approximate values to give to your insurance company so they can adequately insure your contents.
The cost of living elsewhere if you experience a loss. If you do experience a loss in your home, chances are you will have to reside elsewhere while your home is being rebuilt or repaired. Most homeowner’s insurance policies will include coverage for hotels, living expenses and meals that you will incur the cost for while your home is being repaired or rebuilt.
Liability. This part of a homeowners insurance policy covers you in the event that someone else is hurt on your property or in your home, or if something around your home or in your home causes damage to someone else’s property. Liability coverage will also cover legal bills if you are sued for any of these cases.
Be sure to speak with your insurance agent about what you are covered for, specifically, to make sure that your policy is adequate coverage for you, your contents and your home.
How to Switch Business Insurance Plans Without a Hassle
You have heard horror stories about your existing business insurance company. Here comes a friend who switched to this new company with a great insurance policy with more affordable premiums and payment plans. As you retire in your bed that night after hearing your friend's story, you wanted to switch business insurance the very next day. Wait a minute there. Read on first before you do.
Should you really switch?
There are lots of insurance companies out there and there are some that come with a great deal. Sometimes, asking around for a great business insurance plan is all it takes to find the right one for you.
If after a thorough research and careful study you found that your current insurance policy deserves a goodbye, then don't hesitate to let it go.
How to cancel your old policy
If you were already decided to switch business insurance plan, don't forget to cancel your old policy. Inform your agent or broker that you wouldn't want to continue your premium plans and give him or her the exact date of termination. The date of termination would determine how much you would still need to get out of a terminated policy. Don't ever leave your current insurance policy without formally informing a representative from the insurance company.
Furthermore, cancelling your old policy in a formal way will remove any problems along the way, such as an agent or a broker denying the fact that he was informed of insurance policy cancellation and continues to bill you even after you have "verbally" informed them (such as a cancellation over the phone). Create a letter indicating such termination. As businessmen often say, "Keep everything in black and white."
Get a new policy before anything else
But before you do cancel your current business insurance plan, get your new policy first. This is to prevent from having a non-insured period while your business is running and is fully operational. When something unfortunate happens and your business, unluckily, doesn't have insurance policy within that period, you'll be faced with the major disaster of your business career. In insurance, especially with business insurance, it is better to have double or overlapping policies at the same time than to have none at all.
When's the right time to switch policies
You may switch business policy and inform your current business insurance company of the cancellation when it's renewal time. This is to save you from all the expenses that you might incur if you terminate the policy abruptly. Some insurance companies charge policy holders a certain amount (most of the time a huge amount) for abrupt termination.
In summary, it is not really that hard to switch business insurance plans, especially if you have the money. However, if you are practical and you want to save money, the suggestions above would help you switch business insurance plan without a hitch. As they say, to succeed in business, careful planning is essential. And planning your change of insurance plan is one of the many things that you can do to keep your business in shape.
Should you really switch?
There are lots of insurance companies out there and there are some that come with a great deal. Sometimes, asking around for a great business insurance plan is all it takes to find the right one for you.
If after a thorough research and careful study you found that your current insurance policy deserves a goodbye, then don't hesitate to let it go.
How to cancel your old policy
If you were already decided to switch business insurance plan, don't forget to cancel your old policy. Inform your agent or broker that you wouldn't want to continue your premium plans and give him or her the exact date of termination. The date of termination would determine how much you would still need to get out of a terminated policy. Don't ever leave your current insurance policy without formally informing a representative from the insurance company.
Furthermore, cancelling your old policy in a formal way will remove any problems along the way, such as an agent or a broker denying the fact that he was informed of insurance policy cancellation and continues to bill you even after you have "verbally" informed them (such as a cancellation over the phone). Create a letter indicating such termination. As businessmen often say, "Keep everything in black and white."
Get a new policy before anything else
But before you do cancel your current business insurance plan, get your new policy first. This is to prevent from having a non-insured period while your business is running and is fully operational. When something unfortunate happens and your business, unluckily, doesn't have insurance policy within that period, you'll be faced with the major disaster of your business career. In insurance, especially with business insurance, it is better to have double or overlapping policies at the same time than to have none at all.
When's the right time to switch policies
You may switch business policy and inform your current business insurance company of the cancellation when it's renewal time. This is to save you from all the expenses that you might incur if you terminate the policy abruptly. Some insurance companies charge policy holders a certain amount (most of the time a huge amount) for abrupt termination.
In summary, it is not really that hard to switch business insurance plans, especially if you have the money. However, if you are practical and you want to save money, the suggestions above would help you switch business insurance plan without a hitch. As they say, to succeed in business, careful planning is essential. And planning your change of insurance plan is one of the many things that you can do to keep your business in shape.
Ways to Reduce Your Business Insurance Costs
Depending on the number of policies and coverage limits that your small business has, you may find that insurance premiums are taking a pretty healthy bite out of your operating budget. Insurance premiums vary and often depend on a wide variety of factors. However, your business’ insurance itself is based on the type of risks that you face. So, in order to reduce your insurance costs, your organization must take the necessary steps to reduce risks. While the ideas, methods, and programs described may need to be tailored to fit your organization, the basic concepts will correlate to a way to reduce a risk associated with a particular type of business or commercial insurance policy.
Auto Insurance is one of the first places to examine cutting insurance costs. First, you need to make sure all vehicles leased or owned by your organization are maintained properly. Second, do annual driving record checks on all employees who drive company vehicles, and if you don’t currently have one, create a driving policy for your organization. Your business’ driving policy should state the offenses that would eliminate and employee’s ability to drive a company vehicle. Require that employees attend a defensive driving course or, have a defensive driving course consultant do a course for your organization periodically.
Workers compensation claims and health insurance is another place where a small business can reduce their costs. Implementing job safety programs and wellness incentives can be a cost effective way to cut these costs. For example, start a “we walk together,” program. These programs challenge workers to use combined steps to walk across the country, using inexpensive step monitor to count the amount of steps they take in their everyday life. The program encourages employees to walk more which will facilitate weight loss. Studies have shown that over weight individuals have a higher cost of medical care than others. Other ideas could include a support group for employees trying to quit smoking or emailed nutritional updates and advice. Training programs for accident prone positions, new employees, and annual fitness tests could also reduce your costs.
Taking steps to reduce you risk of major property loss may help reduce your property insurance costs. Simple upgrades to your property will go a long way. So, adding things like smoke detectors, fire sprinklers, and bolt locks will decrease chances of major loss. Also, make sure that your business’ valuables and equipment in your office is evaluated and appraised annually. This will ensure that you are not over-insuring equipment that has loss value due to age and use.
The costs associated with a generally liability policy is a little harder to reduce, due to its broad nature. However, if you don’t currently have procedures in place for handling employee complaints for unfair termination, discrimination, and harassment, you should seriously consider it. Although it may not reduce your liability premium considerably, it couldn’t hurt.
The simplest way to make sure you are getting the best deal is to review your policy annually and shop around. Do not let long business relationships and comfort prevent you from saving money where you can. Also review your risks to make sure you are not paying for coverage that you do not need.
Auto Insurance is one of the first places to examine cutting insurance costs. First, you need to make sure all vehicles leased or owned by your organization are maintained properly. Second, do annual driving record checks on all employees who drive company vehicles, and if you don’t currently have one, create a driving policy for your organization. Your business’ driving policy should state the offenses that would eliminate and employee’s ability to drive a company vehicle. Require that employees attend a defensive driving course or, have a defensive driving course consultant do a course for your organization periodically.
Workers compensation claims and health insurance is another place where a small business can reduce their costs. Implementing job safety programs and wellness incentives can be a cost effective way to cut these costs. For example, start a “we walk together,” program. These programs challenge workers to use combined steps to walk across the country, using inexpensive step monitor to count the amount of steps they take in their everyday life. The program encourages employees to walk more which will facilitate weight loss. Studies have shown that over weight individuals have a higher cost of medical care than others. Other ideas could include a support group for employees trying to quit smoking or emailed nutritional updates and advice. Training programs for accident prone positions, new employees, and annual fitness tests could also reduce your costs.
Taking steps to reduce you risk of major property loss may help reduce your property insurance costs. Simple upgrades to your property will go a long way. So, adding things like smoke detectors, fire sprinklers, and bolt locks will decrease chances of major loss. Also, make sure that your business’ valuables and equipment in your office is evaluated and appraised annually. This will ensure that you are not over-insuring equipment that has loss value due to age and use.
The costs associated with a generally liability policy is a little harder to reduce, due to its broad nature. However, if you don’t currently have procedures in place for handling employee complaints for unfair termination, discrimination, and harassment, you should seriously consider it. Although it may not reduce your liability premium considerably, it couldn’t hurt.
The simplest way to make sure you are getting the best deal is to review your policy annually and shop around. Do not let long business relationships and comfort prevent you from saving money where you can. Also review your risks to make sure you are not paying for coverage that you do not need.
How Your Driving Record Affects Your Insurance Premium
One of the best ways to reduce the auto insurance premiums that you pay is to maintain a good driving record. Even in states that have no-fault insurance, your premium will be affected if you make an accident claim or get a traffic ticket. Even if the accident is the other driver’s fault, you may see an increase in your insurance premium if you make several claims against your policy in a short period of time. On the flip side, however, auto insurance companies have begun to reward good drivers as well as punish bad drivers. Your good driving record can not only reduce your annual auto insurance premium, it may entitle you to special perks, discounts and even reduce your deductible.
Take a look at some of the special treatment you’ll get from your insurance company just for avoiding accidents and following the rules of the road.
Lower Premiums
The biggest benefit to keeping a clean driving record is, of course, a reduction in your auto insurance premium. If you have no accidents or traffic tickets – particularly moving violations – on your record when you apply for auto insurance, you’ll start out at a lower rate.
It gets better, though. Maintaining your safe driver record will do more than keep your auto insurance premium low, it can reduce your premium further. Most insurance companies will apply safe driver points, or give you a percentage discount against your premium for each year that you go claim-free. Those discounts can add up to a considerable amount over the course of a few years. In most cases, you can even take your safe driver discount with you if you switch insurance carriers.
Forgiving Your Accidents
If you already have accidents on your driving record, a few years with no accidents or traffic tickets can remove them from your record. Many auto insurance companies now offer “accident forgiveness” as a perk for drivers who maintain a good driving record. They may remove older accidents from your driving record, and take back premium increases that resulted from those accidents or traffic tickets.
Some auto insurance companies even offer accident forgiveness in reverse – if you’ve had several years of safe driving with no claims against your policy, your first accident won’t result in a premium increase. Be aware though, that if you have a second accident in a short period of time, you may end up with a double whammy from it.
Cutting Your Deductible
Another huge benefit that you’ll get from maintaining a safe driving record is reduced deductibles. Many insurance companies will now reduce the deductible you’re required to pay before your insurance kicks in by a percentage for each year you go without an accident. Some auto insurance providers will actually do away with your deductible altogether after several years without an accident or traffic ticket. This can be an enormous benefit if you’d originally elected to pay a large deductible in return for smaller premiums.
Special Discounts and Other Perks
As if saving money on your insurance isn’t enough a reason to maintain a safe driving record, some insurance companies now offer special safe driver rewards programs that are similar to credit card reward programs. The details vary from company to company, but you may earn discount cards for travel, hotel and leisure destinations and even cash back on your insurance for each year that you go without an accident or traffic ticket.
Take a look at some of the special treatment you’ll get from your insurance company just for avoiding accidents and following the rules of the road.
Lower Premiums
The biggest benefit to keeping a clean driving record is, of course, a reduction in your auto insurance premium. If you have no accidents or traffic tickets – particularly moving violations – on your record when you apply for auto insurance, you’ll start out at a lower rate.
It gets better, though. Maintaining your safe driver record will do more than keep your auto insurance premium low, it can reduce your premium further. Most insurance companies will apply safe driver points, or give you a percentage discount against your premium for each year that you go claim-free. Those discounts can add up to a considerable amount over the course of a few years. In most cases, you can even take your safe driver discount with you if you switch insurance carriers.
Forgiving Your Accidents
If you already have accidents on your driving record, a few years with no accidents or traffic tickets can remove them from your record. Many auto insurance companies now offer “accident forgiveness” as a perk for drivers who maintain a good driving record. They may remove older accidents from your driving record, and take back premium increases that resulted from those accidents or traffic tickets.
Some auto insurance companies even offer accident forgiveness in reverse – if you’ve had several years of safe driving with no claims against your policy, your first accident won’t result in a premium increase. Be aware though, that if you have a second accident in a short period of time, you may end up with a double whammy from it.
Cutting Your Deductible
Another huge benefit that you’ll get from maintaining a safe driving record is reduced deductibles. Many insurance companies will now reduce the deductible you’re required to pay before your insurance kicks in by a percentage for each year you go without an accident. Some auto insurance providers will actually do away with your deductible altogether after several years without an accident or traffic ticket. This can be an enormous benefit if you’d originally elected to pay a large deductible in return for smaller premiums.
Special Discounts and Other Perks
As if saving money on your insurance isn’t enough a reason to maintain a safe driving record, some insurance companies now offer special safe driver rewards programs that are similar to credit card reward programs. The details vary from company to company, but you may earn discount cards for travel, hotel and leisure destinations and even cash back on your insurance for each year that you go without an accident or traffic ticket.
Understanding Your Car Insurance
Many people who think they have sufficient car insurance often find themselves facing an unpleasant surprise when they need to file a claim. It's important to take the time to understand exactly what your car insurance policy covers before you find yourself involved in an accident or needing to make a claim for other reasons.
Whether you're thinking about purchasing a new policy or simply want to verify what your current policy covers, it's important to understand several facts about car insurance. Pay close attention to all of the terms and conditions that impact how much your insurer will pay, and under what circumstances.
What is a Deductible?
The deductible on your car insurance policy represents the out of pocket expense you will be responsible for paying following a covered event. If you're policy has a $500 collision deductible, that means you'll be responsible for paying $500 toward the cost of repairing your car following a collision. Many times, companies that promise reduced insurance premiums offer policies that have high deductibles.
When selecting the best deductible for your policy, stop and think about how much you can afford to pay out of pocket at any given point in time. It's a good idea to put enough money in your emergency savings account to cover your deductible amount, just in case you have a car accident. Many people choose higher deductible policies to save money, but protect themselves by making sure they have enough money in the bank to pay the higher amount if they need to do so.
What are Limits of Liability?
Insurance policies are available with varying limits of liability. If you have a $300,000 limit of liability on your collision coverage, that means you are covered for damages causes as a result of a collision of up to $300,000. If you are involved in a covered collision, your insurance company will be responsible for paying the difference between your deductible and your limit of liability. However, if there is more than $300,000 of damage, you will be responsible for paying the excess yourself.
If you decide to lower your rates by reducing your limits of liability, it's important to understand that you open yourself up to potential financial risk if you are involved in an accident that causes a great deal of damage to other people's property. It's also important to understand that there are different types of liability, and the limits can vary from one type of covered event to another. Make sure you know exactly what liability limits are associated with your insurance policy, so you can be certain that the coverage you have is adequate.
Mandatory Car Insurance
If you live in an area where you are required by law to carry automobile insurance, you're required to have liability coverage. This type of insurance protects the interests of other people who might be injured or experience damage as a result of an accident that is your fault. If you purchase only the minimum coverage required by law, you aren't taking any steps to protect yourself or your vehicle. You'll need to add comprehensive or collision coverage to your policy if you want to make sure you are fully protected.
Make an Educated Decision
When you understand the basic facts about car insurance, you'll be better able to make an educated choice about the best policy for your needs. Don't select car insurance on price alone. Make sure you understand exactly what protection you are paying for when you purchase an automobile insurance policy.
Whether you're thinking about purchasing a new policy or simply want to verify what your current policy covers, it's important to understand several facts about car insurance. Pay close attention to all of the terms and conditions that impact how much your insurer will pay, and under what circumstances.
What is a Deductible?
The deductible on your car insurance policy represents the out of pocket expense you will be responsible for paying following a covered event. If you're policy has a $500 collision deductible, that means you'll be responsible for paying $500 toward the cost of repairing your car following a collision. Many times, companies that promise reduced insurance premiums offer policies that have high deductibles.
When selecting the best deductible for your policy, stop and think about how much you can afford to pay out of pocket at any given point in time. It's a good idea to put enough money in your emergency savings account to cover your deductible amount, just in case you have a car accident. Many people choose higher deductible policies to save money, but protect themselves by making sure they have enough money in the bank to pay the higher amount if they need to do so.
What are Limits of Liability?
Insurance policies are available with varying limits of liability. If you have a $300,000 limit of liability on your collision coverage, that means you are covered for damages causes as a result of a collision of up to $300,000. If you are involved in a covered collision, your insurance company will be responsible for paying the difference between your deductible and your limit of liability. However, if there is more than $300,000 of damage, you will be responsible for paying the excess yourself.
If you decide to lower your rates by reducing your limits of liability, it's important to understand that you open yourself up to potential financial risk if you are involved in an accident that causes a great deal of damage to other people's property. It's also important to understand that there are different types of liability, and the limits can vary from one type of covered event to another. Make sure you know exactly what liability limits are associated with your insurance policy, so you can be certain that the coverage you have is adequate.
Mandatory Car Insurance
If you live in an area where you are required by law to carry automobile insurance, you're required to have liability coverage. This type of insurance protects the interests of other people who might be injured or experience damage as a result of an accident that is your fault. If you purchase only the minimum coverage required by law, you aren't taking any steps to protect yourself or your vehicle. You'll need to add comprehensive or collision coverage to your policy if you want to make sure you are fully protected.
Make an Educated Decision
When you understand the basic facts about car insurance, you'll be better able to make an educated choice about the best policy for your needs. Don't select car insurance on price alone. Make sure you understand exactly what protection you are paying for when you purchase an automobile insurance policy.
Learning what auto insurance is required by law
It’s a widely-known fact that if you drive without auto insurance then you can be facing severe penalties if you are pulled over. You might receive points against your driving record, large fines, and possibly even may face some jail time. Just as the penalties for uninsured or underinsured driving vary from one state to another, the amount and type of insurance that is required by law can be quite different as well. To help make sure that you don’t get in trouble for not having the insurance that your state requires, it’s important that you know exactly what the law states is the minimum insurance level for your vehicle. If you aren’t sure or you worry that the law might have changed since you took your driver’s test, there are a number of easy ways for you to find out.
One of the easiest ways to find out what insurance level is required by law in your state is to look it up on the internet. There are a number of websites dedicated to providing useful information such as this, and these sites can usually be found quite easily using the internet search engine of your choice. Make sure that you can verify how recently sites such as this have been updated, though, because you don’t want to trust the information that’s on a site which hasn’t been updated in years. Laws can change over time, and it’s possible that sites which don’t update frequently (or at all) won’t have the latest legal information.
Another good source of information on the insurance required by law is your local Department of Motor Vehicles. Since the DMV is responsible for licensing drivers according to the current legal standards, it stands to reason that they would have the latest information on the laws concerning auto insurance. You can ask a DMV worker directly for this information, look at a driver’s test preparation manual, or even check your state DMV’s website. The DMV offices can be quite busy during peak hours, though, so make sure that you come relatively early in the morning or in mid-afternoon to avoid crowds that occur during lunch breaks or after school.
Yet another source of reliable information is your local police department. Similar to how the DMV has the information because they work with the licensing procedures every day, the police department will be able to provide you with the information that you seek because they are the ones who have to enforce the laws set by the state. You can visit in person or contact them over the phone, though make sure that you use their standard phone number and not the emergency services number if calling.
Finally, you can always ask an insurance agent at a reputable insurance company in your area as many insurance companies won’t sell automotive coverage that falls below that which is required by the state. Even online insurance providers tend to have state requirements programmed into their systems so that they will automatically pull up the latest requirements when you go to buy insurance. Just make sure that you don’t end up buying additional coverage that you don’t need if you’re only looking for the minimum coverage that you can get in order to be legal.
One of the easiest ways to find out what insurance level is required by law in your state is to look it up on the internet. There are a number of websites dedicated to providing useful information such as this, and these sites can usually be found quite easily using the internet search engine of your choice. Make sure that you can verify how recently sites such as this have been updated, though, because you don’t want to trust the information that’s on a site which hasn’t been updated in years. Laws can change over time, and it’s possible that sites which don’t update frequently (or at all) won’t have the latest legal information.
Another good source of information on the insurance required by law is your local Department of Motor Vehicles. Since the DMV is responsible for licensing drivers according to the current legal standards, it stands to reason that they would have the latest information on the laws concerning auto insurance. You can ask a DMV worker directly for this information, look at a driver’s test preparation manual, or even check your state DMV’s website. The DMV offices can be quite busy during peak hours, though, so make sure that you come relatively early in the morning or in mid-afternoon to avoid crowds that occur during lunch breaks or after school.
Yet another source of reliable information is your local police department. Similar to how the DMV has the information because they work with the licensing procedures every day, the police department will be able to provide you with the information that you seek because they are the ones who have to enforce the laws set by the state. You can visit in person or contact them over the phone, though make sure that you use their standard phone number and not the emergency services number if calling.
Finally, you can always ask an insurance agent at a reputable insurance company in your area as many insurance companies won’t sell automotive coverage that falls below that which is required by the state. Even online insurance providers tend to have state requirements programmed into their systems so that they will automatically pull up the latest requirements when you go to buy insurance. Just make sure that you don’t end up buying additional coverage that you don’t need if you’re only looking for the minimum coverage that you can get in order to be legal.
How to Be an Insurer’s Ideal Driver
Auto insurance premiums can take up a hefty chunk of your monthly budget, but there are ways to reduce the amount you pay for auto insurance coverage. Here are seven tips to help you get your auto insurance company’s cheapest premium rates.
1. Follow the rules of the road.
One of the things that will impact your insurance premiums – and impact it hard – is a moving violation on your driving record. Stay within the speed limit, stop at stop signs and remember to get your vehicle inspected at regular intervals to keep your registration and inspection stickers up to date. A moving violation on your driving record can increase your premiums for up to ten years. A DUI conviction can have a devastating effect on your insurance premiums.
2. Take a defensive driving course.
It’s not just young drivers that will benefit from going to driving school. Many insurers will lower your premium if you take a defensive driving course. The insurance companies love statistics, and the statistics show that people who complete defensive driving courses turn out more courteous, less aggressive drivers who are far less likely to get into automobile accidents.
3. Stay in your job for more than three years.
Insurers, like banks and finance companies, have a picture of their ideal customer. The more stable and settled the driver, their statistics show, the less likely they are to take risks when driving. Fewer risks mean less accidents. Stick with your job, stay at your current address and get married, and you’ll see your premiums decrease steadily with each step you take toward stability.
4. Move to a safer neighborhood.
There is, of course, an exception to the above rule. Insurers also look at the place where you garage your car when determining your premium. Inner city neighborhoods typically carry the highest penalties to your premium. A nice home in the suburbs will net you a substantial reduction in the amount you pay to insure your car, especially if you carry theft insurance.
5. Build a driveway, or better yet a garage.
Where you park your car also has an effect on your insurance premium. Parking on the street increases the chance that your car will take damage. Off-street parking will decrease your premiums. Having a garage, and using it regularly to park your car makes you a more careful driver in the eyes on the auto insurance company and that translates to lower premiums.
6. Pay for small repairs yourself rather than making a claim against your insurance policy.
If making repairs to your car after an accident will only cost a small amount above your deductible, it may be worth it to pick up the cost yourself rather than filing a claim. It may seem counter-productive – after all, you pay insurance to pick up those costs, don’t you? However, many insurers now offer reductions in premiums and deductibles for remaining claim free over time. Do a bit of math and decide whether it’s more cost-effective to pay a few bucks out of pocket, or pay higher premiums for years to come.
7. Review your policy annually and update it when necessary.
Don’t just accept the renewal policy that you’re sent each year on your anniversary. Instead, sit down and go over the policy to make sure that it still suits your needs, then take an hour or two to shop around and see if you can get a better deal with another insurer. Do this even if you plan to stay with your current insurer. If you find that you’d get a lower premium for the same coverage elsewhere, you may have a bargaining chip to bring your insurance premium down.
1. Follow the rules of the road.
One of the things that will impact your insurance premiums – and impact it hard – is a moving violation on your driving record. Stay within the speed limit, stop at stop signs and remember to get your vehicle inspected at regular intervals to keep your registration and inspection stickers up to date. A moving violation on your driving record can increase your premiums for up to ten years. A DUI conviction can have a devastating effect on your insurance premiums.
2. Take a defensive driving course.
It’s not just young drivers that will benefit from going to driving school. Many insurers will lower your premium if you take a defensive driving course. The insurance companies love statistics, and the statistics show that people who complete defensive driving courses turn out more courteous, less aggressive drivers who are far less likely to get into automobile accidents.
3. Stay in your job for more than three years.
Insurers, like banks and finance companies, have a picture of their ideal customer. The more stable and settled the driver, their statistics show, the less likely they are to take risks when driving. Fewer risks mean less accidents. Stick with your job, stay at your current address and get married, and you’ll see your premiums decrease steadily with each step you take toward stability.
4. Move to a safer neighborhood.
There is, of course, an exception to the above rule. Insurers also look at the place where you garage your car when determining your premium. Inner city neighborhoods typically carry the highest penalties to your premium. A nice home in the suburbs will net you a substantial reduction in the amount you pay to insure your car, especially if you carry theft insurance.
5. Build a driveway, or better yet a garage.
Where you park your car also has an effect on your insurance premium. Parking on the street increases the chance that your car will take damage. Off-street parking will decrease your premiums. Having a garage, and using it regularly to park your car makes you a more careful driver in the eyes on the auto insurance company and that translates to lower premiums.
6. Pay for small repairs yourself rather than making a claim against your insurance policy.
If making repairs to your car after an accident will only cost a small amount above your deductible, it may be worth it to pick up the cost yourself rather than filing a claim. It may seem counter-productive – after all, you pay insurance to pick up those costs, don’t you? However, many insurers now offer reductions in premiums and deductibles for remaining claim free over time. Do a bit of math and decide whether it’s more cost-effective to pay a few bucks out of pocket, or pay higher premiums for years to come.
7. Review your policy annually and update it when necessary.
Don’t just accept the renewal policy that you’re sent each year on your anniversary. Instead, sit down and go over the policy to make sure that it still suits your needs, then take an hour or two to shop around and see if you can get a better deal with another insurer. Do this even if you plan to stay with your current insurer. If you find that you’d get a lower premium for the same coverage elsewhere, you may have a bargaining chip to bring your insurance premium down.
Should I Switch Auto Insurance Companies for a Better Rate?
ou've probably heard all of the commercials that claim that you can switch to various auto insurance companies and be able to save a lot of money. You want to be sure that you understand what switching your auto insurance entails before you actually do it.
First of all, when you are switching your auto insurance, be sure that you are getting a fair estimate of what the auto insurance is going to cost in the long run. Sometimes, auto insurance companies post that they will be providing you with a certain rate, but that certain rate isn't going to last for the life of your policy. Sometimes you will end up spending more as time goes on for your auto insurance, so be sure that as you are working with your auto insurance you are going to be allowing yourself to know what the various policies will cost, not only as you get them, but in the months and years to come. You want to be sure that if you are going to have any increases in your auto insurance, or if there are any things about the policies that you should be aware of, that you are actually going to be aware of these things right way. You always want to remember that with auto insurance, you will need to make sure that you understand not only what the policy will cost when you start, but what it will cost in the long term, if you were to switch over.
Next, you want to be absolutely sure that as you switch policies, you aren't going to be getting any fees from either insurance company. Sometimes, your current insurance company will charge you fees if you switch unexpectedly, so be sure that you are exploring what you need to do with them in order to switch and not get any fees. Also, be sure that they new company isn’t going to charge you any fees for getting your coverage with them. These types of fees are usually things that aren't listed on the main site for switching your auto insurance, so when it comes time for you to do this, you want to be sure that you are actually looking at all of the fine print as well and you know what fees you will have and which ones you can avoid.
Don’t be suckered into thinking that you will need to pay various fees for switching auto insurance companies. Also, don't be suckered into thinking that just because a deal looks good right away, it is going to be the best deal for you. You want to be sure that you are able to get the most out of your insurance, so be sure that you are getting all of the information and are truly aware of what each of them will cost. This is an important way to take advantage of your auto insurance, and make sure that you are always covered.
First of all, when you are switching your auto insurance, be sure that you are getting a fair estimate of what the auto insurance is going to cost in the long run. Sometimes, auto insurance companies post that they will be providing you with a certain rate, but that certain rate isn't going to last for the life of your policy. Sometimes you will end up spending more as time goes on for your auto insurance, so be sure that as you are working with your auto insurance you are going to be allowing yourself to know what the various policies will cost, not only as you get them, but in the months and years to come. You want to be sure that if you are going to have any increases in your auto insurance, or if there are any things about the policies that you should be aware of, that you are actually going to be aware of these things right way. You always want to remember that with auto insurance, you will need to make sure that you understand not only what the policy will cost when you start, but what it will cost in the long term, if you were to switch over.
Next, you want to be absolutely sure that as you switch policies, you aren't going to be getting any fees from either insurance company. Sometimes, your current insurance company will charge you fees if you switch unexpectedly, so be sure that you are exploring what you need to do with them in order to switch and not get any fees. Also, be sure that they new company isn’t going to charge you any fees for getting your coverage with them. These types of fees are usually things that aren't listed on the main site for switching your auto insurance, so when it comes time for you to do this, you want to be sure that you are actually looking at all of the fine print as well and you know what fees you will have and which ones you can avoid.
Don’t be suckered into thinking that you will need to pay various fees for switching auto insurance companies. Also, don't be suckered into thinking that just because a deal looks good right away, it is going to be the best deal for you. You want to be sure that you are able to get the most out of your insurance, so be sure that you are getting all of the information and are truly aware of what each of them will cost. This is an important way to take advantage of your auto insurance, and make sure that you are always covered.
Auto Insurance for Teens
As most parents can verify, a teenager behind the wheel of a car for the first time can be a nerve-wracking experience – just as much for the parents as for the driver. And with good reason – statistics indicate that a 16 year old driver is almost ten times more likely to be involved in an accident than a driver aged between 30 and 59. Auto accidents are the leading cause of death for those aged 15 to 20.
Because of this, teenage drivers – also known to auto insurers as new drivers – tend to pay the highest auto insurance premiums. Typically, parents can expect to see an increase of anything from 50% to 200% on their car insurance premium, once a teenage driver has been added on to the auto policy. However, you may be able to negotiate a lower rate with your auto insurance company, once your teenage driver has driven for a year or two with a safe driving record.
Although auto insurance for teens is costly, there are some steps you can take to soften the financial blow. It’s usually less expensive to add your teenage driver on to your own car insurance policy, rather than taking out a whole new policy – any discounts that apply to you will also apply to them. If you have more than one vehicle, insurance companies may automatically assign the teenage driver to the car that’s the most expensive to insure – unless you request them to do otherwise.
Many insurance companies offer a discount for teenagers who have completed a safe driving course. You can save an estimated 5 to 15% on your rates if your teen takes one of these courses. Some insurers will even give a discount if you take advantage of their instructional videos or booklets on safe driving. And if your teen keeps up his or her grades at school, you may be able to save money – typically, a discount of between 10 and 20% is possible for a teen who maintains a B grade or better.
The type of car that your teen drives may make a difference to how they drive – and also to your insurance rates. A teenage driver in a sports car is perhaps more likely to drive fast; a teenager in a family car or minivan fitted with safety features is more likely to drive sensibly. Try to avoid letting your teenager drive an SUV or a truck – they are more likely to be involved in a rollover accident. You may be persuaded into buying a new car for your teenage child – consider buying a used car instead, which costs a lot less to insure.
Finally, despite your child’s objections, you should take a ride with your teenage driver. Riding with them as a passenger will give you a good idea of how well they are driving and any errors that they are making. Be sure to point out any examples of bad or aggressive driving – speeding, lack of signaling or dangerous lane changes. And if your teen is riding with you – set a good example!
Because of this, teenage drivers – also known to auto insurers as new drivers – tend to pay the highest auto insurance premiums. Typically, parents can expect to see an increase of anything from 50% to 200% on their car insurance premium, once a teenage driver has been added on to the auto policy. However, you may be able to negotiate a lower rate with your auto insurance company, once your teenage driver has driven for a year or two with a safe driving record.
Although auto insurance for teens is costly, there are some steps you can take to soften the financial blow. It’s usually less expensive to add your teenage driver on to your own car insurance policy, rather than taking out a whole new policy – any discounts that apply to you will also apply to them. If you have more than one vehicle, insurance companies may automatically assign the teenage driver to the car that’s the most expensive to insure – unless you request them to do otherwise.
Many insurance companies offer a discount for teenagers who have completed a safe driving course. You can save an estimated 5 to 15% on your rates if your teen takes one of these courses. Some insurers will even give a discount if you take advantage of their instructional videos or booklets on safe driving. And if your teen keeps up his or her grades at school, you may be able to save money – typically, a discount of between 10 and 20% is possible for a teen who maintains a B grade or better.
The type of car that your teen drives may make a difference to how they drive – and also to your insurance rates. A teenage driver in a sports car is perhaps more likely to drive fast; a teenager in a family car or minivan fitted with safety features is more likely to drive sensibly. Try to avoid letting your teenager drive an SUV or a truck – they are more likely to be involved in a rollover accident. You may be persuaded into buying a new car for your teenage child – consider buying a used car instead, which costs a lot less to insure.
Finally, despite your child’s objections, you should take a ride with your teenage driver. Riding with them as a passenger will give you a good idea of how well they are driving and any errors that they are making. Be sure to point out any examples of bad or aggressive driving – speeding, lack of signaling or dangerous lane changes. And if your teen is riding with you – set a good example!
Whole life insurance types and their differences
There are many things that could happen to a person at any time. The unpredictability of life often leaves people in a precarious state of imbalance. They do not know how things are and they do not know sometimes how to deal with the unexpected things that come their way. It is often troublesome that these things happen. The fact that it is not expected is in itself a problem as people would need to adjust to it as quickly as possible. The problem is often compounded by the fact that surprises are rarely good surprises. They are mostly negative and bring about a lot of inconvenience to people. A sudden death in the family is probably the worst kind of surprise there is. Not only is it emotionally taxing, it also hurts the family financially. A person could help protect his family from this kind of inconvenience. A person can get whole life insurance to protect his family from all these financial problems that can be brought about by his unexpected passing.
Whole life insurance is an insurance policy whose term is the rest of the life of the person insured. This therefore financially secures the people for the monetary problems that may be brought about by his passing. There are different ways to pay for a whole life insurance. In most cases however, whole life insurance premiums may be paid annually. There are different kinds of whole life insurance policies as well. The six different whole life insurance policies are: non-participating, participating, indeterminate, economic, limited pay and single premium.
There are differences between these whole life insurance policies. In non-participating whole life insurance, all values related to the whole life insurance policy are already determined at the time of the issuance of the policy. This means that if for some reason, the values change during the course of the policy, the agreed upon value at the time of the issuance of the policy would still be the value that would be given.
In indeterminate whole life insurance, there is only a difference of the insurance premiums. This means that the insurance premiums could possibly vary from one year to the other. A limited pay whole life insurance policy on the other hand, limits the number of years that premiums need to be paid. In other cases, insurance premiums need to be paid annually for the duration of the policy lest one would lose the policy altogether together with the benefits of security that it brings. In limited pay, the insured needs to pay only for a limited number of years agreed upon at the issuance of the policy. This means that while the insured may need to pay only for, say 20 years, the insurance policy remains active for the duration of his life.
Whole life insurance is a smart way of protecting one’s family for the duration f your lifetime and after. These days, people should understand that people need to take care not only of their own lives, but also the lives of their loved ones.
Whole life insurance is an insurance policy whose term is the rest of the life of the person insured. This therefore financially secures the people for the monetary problems that may be brought about by his passing. There are different ways to pay for a whole life insurance. In most cases however, whole life insurance premiums may be paid annually. There are different kinds of whole life insurance policies as well. The six different whole life insurance policies are: non-participating, participating, indeterminate, economic, limited pay and single premium.
There are differences between these whole life insurance policies. In non-participating whole life insurance, all values related to the whole life insurance policy are already determined at the time of the issuance of the policy. This means that if for some reason, the values change during the course of the policy, the agreed upon value at the time of the issuance of the policy would still be the value that would be given.
In indeterminate whole life insurance, there is only a difference of the insurance premiums. This means that the insurance premiums could possibly vary from one year to the other. A limited pay whole life insurance policy on the other hand, limits the number of years that premiums need to be paid. In other cases, insurance premiums need to be paid annually for the duration of the policy lest one would lose the policy altogether together with the benefits of security that it brings. In limited pay, the insured needs to pay only for a limited number of years agreed upon at the issuance of the policy. This means that while the insured may need to pay only for, say 20 years, the insurance policy remains active for the duration of his life.
Whole life insurance is a smart way of protecting one’s family for the duration f your lifetime and after. These days, people should understand that people need to take care not only of their own lives, but also the lives of their loved ones.
What is Whole Life Insurance & How Does it Work?
Life insurance is a contract in which two parties, the insurer and the insured arrive at an agreement that the insurer will pay the insured’s beneficiaries in the event of the insured’s death provided the latter will pay insurance premiums for a period of time. One example on life insurance that falls on the investment classification is whole life insurance.
From the word being, whole life insurance covers the whole of an insured person’s life. Payment of death benefit is definite in the occurrence of the insured individual’s demise. It is totally different from term life insurance because term life insurance pays death benefit only when the insured dies within the term of coverage specified in the contract.
The principal advantage of this kind of life insurance is that the payment for insurance claims is certain. The insured’s beneficiaries will definitely get a payout anytime the insured dies. Individuals who normally would like to leave their families financial security upon their deaths most often opt to purchase a whole life insurance. This type of insurance can also be used to cover the policy payer’s debts through enjoinment with term insurance. This insurance policy is far more expensive than any other insurance like term life insurance because life insurance companies ensure that the beneficiaries of the insured will get an accumulated insurance payout in the occurrence of the insured’s death.
Maximum cover and balanced cover are the two types of cover for this insurance policy. Maximum cover gives a guarantee that the insured sum and payment premium will not raise for the first ten years of insurance. Only when the insurance plan is reviewed after that period would there be necessary payment premium increase. Balanced cover, on the other hand, aims to set symmetry between the life investments of the policy owner and the life insurance so that it may sustain the coverage of the later years of the insured.
The insurance payment premiums normally depend on the sum of the coverage, the person, sex, and age. Women will normally have lower insurance premiums since they have longer life spans than their male counterparts.
Whole life insurance is for individuals who need lifetime protection coverage. It is well-suited for people who want a higher level of safety that are offered by insurance policies. People who do not want their premiums to increase along with their ages normally choose this insurance over other types. This insurance is viewed more cost-effective than the term-life insurance because the benefit payout is certain and premium payments do not increase on a yearly basis. Other advantages of this insurance are the building up of cash value through certain dividends and the stability of insurance premiums regardless of mortality and expense charges discrepancies.
Whole life insurance is ideal for person’s having long-term goals because of the guarantee in cash value build up and the convenience of withdrawal in the event of emergencies. Nevertheless, the premiums paid for this type of insurance will always be more costly than term life insurance because of the certainty in benefit payout. The policy payer’s ability to pay these premiums will determine the accumulated death benefit to be received by beneficiaries.
From the word being, whole life insurance covers the whole of an insured person’s life. Payment of death benefit is definite in the occurrence of the insured individual’s demise. It is totally different from term life insurance because term life insurance pays death benefit only when the insured dies within the term of coverage specified in the contract.
The principal advantage of this kind of life insurance is that the payment for insurance claims is certain. The insured’s beneficiaries will definitely get a payout anytime the insured dies. Individuals who normally would like to leave their families financial security upon their deaths most often opt to purchase a whole life insurance. This type of insurance can also be used to cover the policy payer’s debts through enjoinment with term insurance. This insurance policy is far more expensive than any other insurance like term life insurance because life insurance companies ensure that the beneficiaries of the insured will get an accumulated insurance payout in the occurrence of the insured’s death.
Maximum cover and balanced cover are the two types of cover for this insurance policy. Maximum cover gives a guarantee that the insured sum and payment premium will not raise for the first ten years of insurance. Only when the insurance plan is reviewed after that period would there be necessary payment premium increase. Balanced cover, on the other hand, aims to set symmetry between the life investments of the policy owner and the life insurance so that it may sustain the coverage of the later years of the insured.
The insurance payment premiums normally depend on the sum of the coverage, the person, sex, and age. Women will normally have lower insurance premiums since they have longer life spans than their male counterparts.
Whole life insurance is for individuals who need lifetime protection coverage. It is well-suited for people who want a higher level of safety that are offered by insurance policies. People who do not want their premiums to increase along with their ages normally choose this insurance over other types. This insurance is viewed more cost-effective than the term-life insurance because the benefit payout is certain and premium payments do not increase on a yearly basis. Other advantages of this insurance are the building up of cash value through certain dividends and the stability of insurance premiums regardless of mortality and expense charges discrepancies.
Whole life insurance is ideal for person’s having long-term goals because of the guarantee in cash value build up and the convenience of withdrawal in the event of emergencies. Nevertheless, the premiums paid for this type of insurance will always be more costly than term life insurance because of the certainty in benefit payout. The policy payer’s ability to pay these premiums will determine the accumulated death benefit to be received by beneficiaries.
Term Life Insurance Summary
Term life insurance is a pure risk type of insurance that builds no cash value for premium payments. The premiums for this type of insurance generally increase each year as the insured person gets older. This is designed for the purpose of covering temporary insurance needs like loan payments, costs of education, and funeral costs. Term life insurance quotes are typically lower than any other type of insurance because term life insurance covers an insured person for only a specified term of coverage. Whole life insurance, on the other hand, covers the whole life of a person and assures the insured that his beneficiaries will be paid a death benefit anytime he dies within his lifetime.
Term life insurance is ideally purchased for the purpose of covering debts, business insurance, or check replacements to guarantee that the beneficiaries of the insured will still be secured with financial resources upon the death of the insured individual. This is also purchased to secure the needs that will be gone even before the insured’s death.
Life insurance companies commonly base their insurance premiums on the risks of insuring a person. This is also the same reason why the quotes of term life insurance increase as the insured individual’s age increase. The probability that a person will die at any given point in time increases in proportion with the person’s increase in age. The older a person gets, the more likely his death is to come. The aforementioned are the reasons why term life insurance quotes are higher than whole life insurance quotes.
Term life insurance on average has only one-year-term coverage. People, however, are not very much inclined to purchasing insurance policies that increase prices rapidly. To address this, life insurance companies have created policies that cover longer terms, say 10 or 20 years. 10-year or 20-year term life insurance has initial premiums that are stable in the mentioned period. Necessary increases in premiums are done only when these terms elapse. The policy owner is also given the option to renew or drop the insurance.
Term life insurance is ideally purchased for the purpose of covering debts, business insurance, or check replacements to guarantee that the beneficiaries of the insured will still be secured with financial resources upon the death of the insured individual. This is also purchased to secure the needs that will be gone even before the insured’s death.
Life insurance companies commonly base their insurance premiums on the risks of insuring a person. This is also the same reason why the quotes of term life insurance increase as the insured individual’s age increase. The probability that a person will die at any given point in time increases in proportion with the person’s increase in age. The older a person gets, the more likely his death is to come. The aforementioned are the reasons why term life insurance quotes are higher than whole life insurance quotes.
Term life insurance on average has only one-year-term coverage. People, however, are not very much inclined to purchasing insurance policies that increase prices rapidly. To address this, life insurance companies have created policies that cover longer terms, say 10 or 20 years. 10-year or 20-year term life insurance has initial premiums that are stable in the mentioned period. Necessary increases in premiums are done only when these terms elapse. The policy owner is also given the option to renew or drop the insurance.
Life Insurance - Understanding Life Insurance
Life insurance is an agreement between an insurer and a policy payer in which the policy payer, which is usually the insured, is ensured to have his beneficiary or beneficiaries paid a death benefit by the insurer in the event of his death. The policy payer will gradually pay the benefit through payment of premium. This premium is either paid on a monthly basis or on lump sums. Life policies determine the coverage of the insured person’s life. The contract between the policy owner and the insurer limits the events that are covered by life policy. A death of an insured is the usual event covered by insurance. Some other events that are included in the life policy are sickness, accidents, and untimely deaths.
The stipulations of an insurance contract normally limit the obligations and liability of the insurer to the policy payer. Exclusions are written off in the contract to delimit the coverage of the life insurance policy purchased by a policy owner.
Life-based insurance contracts are classified in two: protection insurance and investment insurance. Term life insurance is an example of protection insurance policy. In this insurance, only a specified event and term is covered by the insurance policy. In the occurrence of the specified event, the beneficiaries of the insured will be paid the insurance claims. Whole life insurance is an example of investment insurance. In this policy, the insured will be covered by insurance throughout his lifetime. In the event of his demise, the beneficiaries will be paid death benefit.
The individuals that concern insurance contracts include the insurer, policy owner, the insured, and his beneficiaries. The insurer is the party that will pay death benefits to the beneficiaries of the insured in the event of the insured’s death. The policy owner is most oftentimes also the insured person. However, in certain cases, the policy owner is only the purchaser of the insurance, and the insured is a different person from the policy payer. For example, a wife buys insurance for her husband. The husband is the insured person, while the wife is the policy payer, since she is the person responsible for paying the monthly insurance premiums. The beneficiaries will receive the death benefits only in the demise of the husband – the insured person. Beneficiaries are usually the dependents of the insured who will receive insurance claims at the occurrence of the death of the insured. Beneficiaries may either be individuals or organizations.
Generally, the cost of a life insurance for a policy payer will be based on the insurance company’s calculation of insurance policy prices considering altogether the funding of insurance claims to be paid, the administrative costs, and the profit for insuring a person. The price of the insurance is normally based on mortality tables that are computed by actuaries. These actuaries are the ones responsible for the calculation of these tables with the use of actuarial science that is based on probability and statistics. Life expectancies are also essential to computation of insurance prices.
The occurrence of the insured’s death will have his beneficiaries be able to receive the death benefits upon their presentation of proof of death. Life insurance companies typically require death certificates and insurer’s claims before they pay the beneficiaries the insurance benefit. In some cases, insurers investigate on a suspicious death of the insured to determine if they are obligated to pay the death benefits to beneficiaries.
The stipulations of an insurance contract normally limit the obligations and liability of the insurer to the policy payer. Exclusions are written off in the contract to delimit the coverage of the life insurance policy purchased by a policy owner.
Life-based insurance contracts are classified in two: protection insurance and investment insurance. Term life insurance is an example of protection insurance policy. In this insurance, only a specified event and term is covered by the insurance policy. In the occurrence of the specified event, the beneficiaries of the insured will be paid the insurance claims. Whole life insurance is an example of investment insurance. In this policy, the insured will be covered by insurance throughout his lifetime. In the event of his demise, the beneficiaries will be paid death benefit.
The individuals that concern insurance contracts include the insurer, policy owner, the insured, and his beneficiaries. The insurer is the party that will pay death benefits to the beneficiaries of the insured in the event of the insured’s death. The policy owner is most oftentimes also the insured person. However, in certain cases, the policy owner is only the purchaser of the insurance, and the insured is a different person from the policy payer. For example, a wife buys insurance for her husband. The husband is the insured person, while the wife is the policy payer, since she is the person responsible for paying the monthly insurance premiums. The beneficiaries will receive the death benefits only in the demise of the husband – the insured person. Beneficiaries are usually the dependents of the insured who will receive insurance claims at the occurrence of the death of the insured. Beneficiaries may either be individuals or organizations.
Generally, the cost of a life insurance for a policy payer will be based on the insurance company’s calculation of insurance policy prices considering altogether the funding of insurance claims to be paid, the administrative costs, and the profit for insuring a person. The price of the insurance is normally based on mortality tables that are computed by actuaries. These actuaries are the ones responsible for the calculation of these tables with the use of actuarial science that is based on probability and statistics. Life expectancies are also essential to computation of insurance prices.
The occurrence of the insured’s death will have his beneficiaries be able to receive the death benefits upon their presentation of proof of death. Life insurance companies typically require death certificates and insurer’s claims before they pay the beneficiaries the insurance benefit. In some cases, insurers investigate on a suspicious death of the insured to determine if they are obligated to pay the death benefits to beneficiaries.
Term Life Insurance – How Much Coverage is Enough?
The whole idea behind any kind of life insurance is to provide money for your family if they lose you and your income. In most cases, term life insurance is a better option that whole life. Most whole life policies have some kind of savings attached to them and slowly build up a cash value over the years. The bad things about these kinds of policies is that the monthly premiums are much higher than term policy premiums and, since some of the money goes toward this cash value, they are often have less total coverage than a term policy. In this author’s opinion, term insurance is the best bet for most people. You can often make more money on your own by investing the difference between term premiums and whole life premiums than the insurance company can.
Now that that has been established, the question becomes “How much insurance do I need?” You might try a life insurance calculator which will let you put in a few numbers and then provide an estimate of you how much insurance you might need. You always need to be careful when the company who wants to sell you a policy is telling you how much you need. You need to have a good idea of what you need before you start talking to an insurance agent or plugging numbers into a calculator. This will help you decide if the company you are looking at is trustworthy. If the agent’s or calculator’s numbers are a lot different than yours, take a look at why. Most agents are going to be honest people and should be able to give you very valid explanations for the numbers they come up with.
So, what kinds of things are you going to look at to come up with a number for coverage? Your current income and lifestyle are two important factors. Figure out about how much money your family would need to maintain their current lifestyle until your kids can start earning their own way. You need to consider, too, what bills you may want them to be able to pay off. Paying off the mortgage and car loans will help them meet basic necessities. Take into consideration any future expenses like education. If your kids are going to college, do you want to provide them with enough to pay for the entire thing or just enough to give them a good start? If you live in a two parent household, how much will the other person be able to contribute to the income?
Now that you have put together some basic information and come up with some idea of what you need, it’s time to talk to a professional. As mentioned above, a professional agent is going to be able to come up with numbers and reasons for those numbers. It’s wasteful to pay premiums on too much insurance and unfortunate to not have enough insurance to cover your family’s expenses if you pass.
Now that that has been established, the question becomes “How much insurance do I need?” You might try a life insurance calculator which will let you put in a few numbers and then provide an estimate of you how much insurance you might need. You always need to be careful when the company who wants to sell you a policy is telling you how much you need. You need to have a good idea of what you need before you start talking to an insurance agent or plugging numbers into a calculator. This will help you decide if the company you are looking at is trustworthy. If the agent’s or calculator’s numbers are a lot different than yours, take a look at why. Most agents are going to be honest people and should be able to give you very valid explanations for the numbers they come up with.
So, what kinds of things are you going to look at to come up with a number for coverage? Your current income and lifestyle are two important factors. Figure out about how much money your family would need to maintain their current lifestyle until your kids can start earning their own way. You need to consider, too, what bills you may want them to be able to pay off. Paying off the mortgage and car loans will help them meet basic necessities. Take into consideration any future expenses like education. If your kids are going to college, do you want to provide them with enough to pay for the entire thing or just enough to give them a good start? If you live in a two parent household, how much will the other person be able to contribute to the income?
Now that you have put together some basic information and come up with some idea of what you need, it’s time to talk to a professional. As mentioned above, a professional agent is going to be able to come up with numbers and reasons for those numbers. It’s wasteful to pay premiums on too much insurance and unfortunate to not have enough insurance to cover your family’s expenses if you pass.
Tuesday, March 10, 2009
Health insurance is complicated
Tuesday, March 10, 2009
so we've provided this section to simplify it.
Whether you're considering an employer-based plan or applying for individual insurance, already have coverage or just lost coverage, we'll clarify those all-important choices. Here's help for making the right decisions for you and your family.
Don't have insurance...
Don't be intimidated if you find yourself shopping for health insurance in the individual market. We can help you understand how the individual market works and how to apply. It's easier than ever to get a tax break on your health care expenses. But you can only establish the newest type of tax-preferred account called a Health Savings Account if you have a certain kind of high-deductible health plan. So think about how you will pay for health expenses when you pick a plan.
Already have insurance...
You can avoid financial surprises if you know how to use your plan wisely. And if you run into trouble with your insurance company, we can help you understand your rights and how to exercise them. We can also help you understand your right to keep your personal medical information private.
Whether you're considering an employer-based plan or applying for individual insurance, already have coverage or just lost coverage, we'll clarify those all-important choices. Here's help for making the right decisions for you and your family.
Don't have insurance...
Don't be intimidated if you find yourself shopping for health insurance in the individual market. We can help you understand how the individual market works and how to apply. It's easier than ever to get a tax break on your health care expenses. But you can only establish the newest type of tax-preferred account called a Health Savings Account if you have a certain kind of high-deductible health plan. So think about how you will pay for health expenses when you pick a plan.
Already have insurance...
You can avoid financial surprises if you know how to use your plan wisely. And if you run into trouble with your insurance company, we can help you understand your rights and how to exercise them. We can also help you understand your right to keep your personal medical information private.
Medicare
Medicare at a Glance
Date updated: October 10, 2007
Centers for Medicare & Medicaid Services
Who runs the Medicare Program?
The Centers for Medicare & Medicaid Services (CMS) is the Federal agency that runs Medicare. CMS is part of the U.S. Department of Health and Human Services.
What is Medicare?
Medicare is health insurance for people age 65 or older, under age 65 with certain disabilities, and any age with permanent kidney failure (called “End-Stage Renal Disease”).
Medicare has
* Part A (Hospital),
* Part B (Medical),
* Part C (Medicare Advantage Plans, like HMOs and PPOs), and
* Part D (Medicare prescription drug coverage).
What is Medicare Part A?
Medicare Part A helps cover inpatient care in hospitals. This includes critical access hospitals and skilled nursing facilities (not custodial or long-term care). It also helps cover hospice care and home health care. You must meet certain conditions to get these benefits.
Cost: Most people automatically get Medicare Part A coverage without having to pay a monthly payment, called a premium. This is because they or a spouse paid Medicare taxes while working. If you don’t automatically get premium-free Part A, you may be able to buy it.
What is Medicare Part B?
Medicare Part B helps cover medical services like doctors’ services, outpatient care, and other medical services that Part A doesn’t cover. Part B is optional. Part B helps pay for covered medical services and items when they are medically necessary. Part B also covers some preventive services. These include a one-time “Welcome to Medicare” physical exam, bone mass measurements, flu and pneumococcal shots, cardiovascular screenings, cancer screenings, diabetes screenings, and more.
Cost: Most people pay the standard Part B premium ($93.50 in 2007). Some people may pay a higher premium, based on their income. Your monthly premium will be higher than the standard premium if you are single (file an individual tax return), and your annual income is more than $80,000, or if you are married (file a joint tax return) and your annual income is more than $160,000. These amounts change each year.
What isn't covered by Medicare Part A and Part B?
Medicare doesn’t cover everything. For example, Medicare doesn’t cover cosmetic surgery, health care you get while traveling outside of the United States (except in limited cases), hearing aids, most hearing exams, long-term care (like care in a nursing home), most eyeglasses, and more. Some of these services may be covered under Medicare Advantage Plans.
What are Medicare Advantage Plans (like HMOs and PPOs)?
Medicare Advantage Plans are health plan options that are approved by Medicare but run by private companies. They are part of the Medicare Program, and sometimes called “Part C.” They provide all your Part A and Part B coverage and must cover medically-necessary services. They generally offer extra benefits, and many include Part D drug coverage. You may have to see doctors who belong to the plan or go to certain hospitals to get covered services.
Cost: Some Medicare Advantage Plans charge a monthly premium in addition to your Part B premium. Costs vary by plan and the services you use.
What is Medicare prescription drug coverage?
Medicare offers prescription drug coverage for everyone with Medicare. This is called “Part D.” This coverage may help lower prescription drug costs and help protect against higher costs in the future. It can give you greater access to drugs that you can use to prevent complications of diseases and stay well. These plans are run by insurance companies and other private companies approved by Medicare. Part D is optional.
Cost: If you join a Medicare drug plan, you usually pay a monthly premium. If you decide not to enroll in a Medicare drug plan when you are first eligible, you may pay a penalty if you choose to join later. If you have limited income and resources, you might qualify for extra help paying your Part D costs. For more information on who can get extra help with prescription drug costs and how to apply, visit www.socialsecurity.gov on the web or call Social Security at 1-800-772-1213. TTY users should call 1-800-325-0778.
What are my Medicare Health Plan choices?
Most people get their Medicare health care coverage in one of two ways. Your costs vary depending on your coverage and the services you use.
Original Medicare Plan. The Original Medicare Plan, which provides Medicare Part A and Part B coverage, is a fee-for-service plan managed by the Federal Government. This means you are usually charged a fee for each health care service or supply you get. For some services, you will pay an amount called a deductible before Medicare pays its part. Then, when you get a Medicare-covered medical supply or service, Medicare pays its share, and you pay your share, called the coinsurance or a copayment. You can also choose to get Part D coverage.
Medicare Advantage Plans. Medicare Advantage Plans provide all of your Medicare Part A and Part B coverage and must cover medically-necessary services. They generally offer extra benefits, and many include Part D drug coverage.
Medicare Advantage Plans include:
* Medicare Preferred Provider Organization (PPOs) Plans,
* Medicare Health Maintenance Organization (HMOs) Plans,
* Medicare Private Fee-for-Service (PFFS) Plans,
* Medicare Special Needs Plans, and
* Medicare Medical Savings Account (MSA) Plans.
For help comparing your plan choices, visit www.medicare.gov on the web. Select “Compare Health Plans and Medigap Policies in Your Area.” Or, call 1-800-MEDICARE (1-800-633-4227). TTY users should call 1-877-486-2048.
When can I make changes to my health care coverage?
You can make changes to your Medicare health care coverage from November 15 – December 31 each year. If you are eligible for a Medicare Advantage Plan, you can also join a Medicare Advantage Plan from January 1– March 31 each year. If you are in the Original Medicare Plan, you will have a limited opportunity in 2007 and 2008 to join a Medicare Advantage Plan that doesn’t include Medicare prescription drug coverage (except Medicare Medical Savings Account Plans) at any time during the year.
Can I have other types of health insurance?
Yes. You may already have health care coverage such as employer or retiree coverage or another type of health insurance. There are times when your other coverage or health insurance must pay before Medicare pays. Talk to your benefits administrator to see how your other coverage or health insurance works with Medicare.
If you have the Original Medicare Plan, you might also want to buy a Medigap (sometimes called “Medicare Supplement Insurance”) policy. A Medigap policy is a health insurance policy sold by private insurance companies to fill “gaps” in the Original Medicare Plan coverage.
How can I get help to pay health care and prescription costs?
There are programs that help millions of people with Medicare save money each year. If you have limited income and resources, your State may help pay Medicare premiums and, in some cases, may also pay Medicare deductibles and coinsurance. Help is also available paying prescription drug costs. Call 1-800-MEDICARE (1-800-633-4227). TTY users should call 1-877-486-2048.
Date updated: October 10, 2007
Centers for Medicare & Medicaid Services
Who runs the Medicare Program?
The Centers for Medicare & Medicaid Services (CMS) is the Federal agency that runs Medicare. CMS is part of the U.S. Department of Health and Human Services.
What is Medicare?
Medicare is health insurance for people age 65 or older, under age 65 with certain disabilities, and any age with permanent kidney failure (called “End-Stage Renal Disease”).
Medicare has
* Part A (Hospital),
* Part B (Medical),
* Part C (Medicare Advantage Plans, like HMOs and PPOs), and
* Part D (Medicare prescription drug coverage).
What is Medicare Part A?
Medicare Part A helps cover inpatient care in hospitals. This includes critical access hospitals and skilled nursing facilities (not custodial or long-term care). It also helps cover hospice care and home health care. You must meet certain conditions to get these benefits.
Cost: Most people automatically get Medicare Part A coverage without having to pay a monthly payment, called a premium. This is because they or a spouse paid Medicare taxes while working. If you don’t automatically get premium-free Part A, you may be able to buy it.
What is Medicare Part B?
Medicare Part B helps cover medical services like doctors’ services, outpatient care, and other medical services that Part A doesn’t cover. Part B is optional. Part B helps pay for covered medical services and items when they are medically necessary. Part B also covers some preventive services. These include a one-time “Welcome to Medicare” physical exam, bone mass measurements, flu and pneumococcal shots, cardiovascular screenings, cancer screenings, diabetes screenings, and more.
Cost: Most people pay the standard Part B premium ($93.50 in 2007). Some people may pay a higher premium, based on their income. Your monthly premium will be higher than the standard premium if you are single (file an individual tax return), and your annual income is more than $80,000, or if you are married (file a joint tax return) and your annual income is more than $160,000. These amounts change each year.
What isn't covered by Medicare Part A and Part B?
Medicare doesn’t cover everything. For example, Medicare doesn’t cover cosmetic surgery, health care you get while traveling outside of the United States (except in limited cases), hearing aids, most hearing exams, long-term care (like care in a nursing home), most eyeglasses, and more. Some of these services may be covered under Medicare Advantage Plans.
What are Medicare Advantage Plans (like HMOs and PPOs)?
Medicare Advantage Plans are health plan options that are approved by Medicare but run by private companies. They are part of the Medicare Program, and sometimes called “Part C.” They provide all your Part A and Part B coverage and must cover medically-necessary services. They generally offer extra benefits, and many include Part D drug coverage. You may have to see doctors who belong to the plan or go to certain hospitals to get covered services.
Cost: Some Medicare Advantage Plans charge a monthly premium in addition to your Part B premium. Costs vary by plan and the services you use.
What is Medicare prescription drug coverage?
Medicare offers prescription drug coverage for everyone with Medicare. This is called “Part D.” This coverage may help lower prescription drug costs and help protect against higher costs in the future. It can give you greater access to drugs that you can use to prevent complications of diseases and stay well. These plans are run by insurance companies and other private companies approved by Medicare. Part D is optional.
Cost: If you join a Medicare drug plan, you usually pay a monthly premium. If you decide not to enroll in a Medicare drug plan when you are first eligible, you may pay a penalty if you choose to join later. If you have limited income and resources, you might qualify for extra help paying your Part D costs. For more information on who can get extra help with prescription drug costs and how to apply, visit www.socialsecurity.gov on the web or call Social Security at 1-800-772-1213. TTY users should call 1-800-325-0778.
What are my Medicare Health Plan choices?
Most people get their Medicare health care coverage in one of two ways. Your costs vary depending on your coverage and the services you use.
Original Medicare Plan. The Original Medicare Plan, which provides Medicare Part A and Part B coverage, is a fee-for-service plan managed by the Federal Government. This means you are usually charged a fee for each health care service or supply you get. For some services, you will pay an amount called a deductible before Medicare pays its part. Then, when you get a Medicare-covered medical supply or service, Medicare pays its share, and you pay your share, called the coinsurance or a copayment. You can also choose to get Part D coverage.
Medicare Advantage Plans. Medicare Advantage Plans provide all of your Medicare Part A and Part B coverage and must cover medically-necessary services. They generally offer extra benefits, and many include Part D drug coverage.
Medicare Advantage Plans include:
* Medicare Preferred Provider Organization (PPOs) Plans,
* Medicare Health Maintenance Organization (HMOs) Plans,
* Medicare Private Fee-for-Service (PFFS) Plans,
* Medicare Special Needs Plans, and
* Medicare Medical Savings Account (MSA) Plans.
For help comparing your plan choices, visit www.medicare.gov on the web. Select “Compare Health Plans and Medigap Policies in Your Area.” Or, call 1-800-MEDICARE (1-800-633-4227). TTY users should call 1-877-486-2048.
When can I make changes to my health care coverage?
You can make changes to your Medicare health care coverage from November 15 – December 31 each year. If you are eligible for a Medicare Advantage Plan, you can also join a Medicare Advantage Plan from January 1– March 31 each year. If you are in the Original Medicare Plan, you will have a limited opportunity in 2007 and 2008 to join a Medicare Advantage Plan that doesn’t include Medicare prescription drug coverage (except Medicare Medical Savings Account Plans) at any time during the year.
Can I have other types of health insurance?
Yes. You may already have health care coverage such as employer or retiree coverage or another type of health insurance. There are times when your other coverage or health insurance must pay before Medicare pays. Talk to your benefits administrator to see how your other coverage or health insurance works with Medicare.
If you have the Original Medicare Plan, you might also want to buy a Medigap (sometimes called “Medicare Supplement Insurance”) policy. A Medigap policy is a health insurance policy sold by private insurance companies to fill “gaps” in the Original Medicare Plan coverage.
How can I get help to pay health care and prescription costs?
There are programs that help millions of people with Medicare save money each year. If you have limited income and resources, your State may help pay Medicare premiums and, in some cases, may also pay Medicare deductibles and coinsurance. Help is also available paying prescription drug costs. Call 1-800-MEDICARE (1-800-633-4227). TTY users should call 1-877-486-2048.
Information Of Health Insurance
What can I do if I am having trouble settling my claim?
If you are unsatisfied with how your insurance company is handling your claim, you have several options:
* Talk to the agent or company representative who sold you the policy
Let the agent know that you are dissatisfied and explain the specifics of your problem.
* Contact the claims manager of the company
Provide a written explanation of your problem with copies of supporting documentation. Remember to send only a copy and not any original documentation. If you are insured with a smaller company, consider writing directly to the president. Going to the top can sometimes speed the process.
* Contact your state insurance department
Insurance is a regulated industry and your state department of insurance should be able to help you resolve your problem.
* Consult an attorney
If you have tried all four of the above tips and still cannot resolve the claim, you have the option of talking to an attorney. You may have to pay a consultation fee for your initial visit, so make sure you know how much this will cost. Meet with an attorney who has solid references or get the name of someone from your local bar association. Prepare for the visit by bringing a copy of your insurance policy and other relevant documents. Get the fee structure in writing before you decide to pursue the case.
If you are unsatisfied with how your insurance company is handling your claim, you have several options:
* Talk to the agent or company representative who sold you the policy
Let the agent know that you are dissatisfied and explain the specifics of your problem.
* Contact the claims manager of the company
Provide a written explanation of your problem with copies of supporting documentation. Remember to send only a copy and not any original documentation. If you are insured with a smaller company, consider writing directly to the president. Going to the top can sometimes speed the process.
* Contact your state insurance department
Insurance is a regulated industry and your state department of insurance should be able to help you resolve your problem.
* Consult an attorney
If you have tried all four of the above tips and still cannot resolve the claim, you have the option of talking to an attorney. You may have to pay a consultation fee for your initial visit, so make sure you know how much this will cost. Meet with an attorney who has solid references or get the name of someone from your local bar association. Prepare for the visit by bringing a copy of your insurance policy and other relevant documents. Get the fee structure in writing before you decide to pursue the case.
Health Insurance Rates
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THE BEST PRICE ON INSURANCE.
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Madeleine P. | Savannah, GA
I obtained a comparison quote and saved $150/yr. I was pleased with the ease-of-use of the online system. I navigated the screens quickly and easily. The help screens and functions available greatly aided my ability to fill-in the requested information in a timely and orderly fashion. Overall, I was very pleased with my experience and will highly recommend it to my friends and family.
William F. | Willoughby, OH
Excellent service. Fast and to the point. The rates received are very good. You will eventually eliminate the competition. Good Job!
Angel P. | Miramar, FL
Your website helped me to save over $500 and a 75% better policy. My sincere thanks.
Mary P. | Norcross, GA
Just wanted to let you know that the web-site was a breeze to move through and made the experience of getting a quote so much easier than I expected!
Nancy A. | Sarasota, FL
I would like to take a moment and thank you for what you have done for me! You saved me over $300.00 a year. Thank you so much. I am a very PLEASED customer.
Brenda C. | Newport, ME
The fact of getting multiple rate quotes so quick and easily was what prompted me into doing it and will, in the end, save me quite a bit of money. A rate from a quality insurer was considerably lower than what I pay now.
Robert Z. | Columbus, OH
Thanks for helping me get insurance. I checked today to see if I could get a better rate and the closest one was $100 more! You have saved me dollars that I will need for retirement. Thanks again.
Tim G. | Los Angeles, CA
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How do I pick a health plan?
Whether your employer gives you a choice of plans or you need to purchase your own coverage, it is crucial that you understand your health insurance choices and pick the insurance that is best for you and your family.
Here are some questions you should ask yourself when choosing a health insurance plan:
How affordable is the cost of care?
* What is the monthly premium I will have to pay?
* Should I try to insure most of my medical expenses or just the large ones?
* What deductibles will I have to pay out-of-pocket before insurance starts to reimburse me?
* After I have met my deductible, what percentage of my medical expenses are reimbursed?
* How much less am I reimbursed if I use doctors outside the insurance company’s network?
Does the insurance plan cover the services I am likely to use?
* Are the doctors, hospitals, laboratories and other medical providers that I use in the insurance company’s network?
* If I want to use a doctor outside the network, will the plan permit it?
* How easily can I change primary-care physicians if I want to?
* Do I need to get permission before I see a medical specialist?
* What are the procedures for getting care and being reimbursed in an emergency situation, both at home or out of town?
* If I have a preexisting medical condition, will the plan cover it?
* If I have a chronic condition such as asthma, cancer, AIDS or alcoholism, how will the plan treat it?
* Are the prescription medicines that I use covered by the plan?
* Does the plan reimburse alternative medical therapies such as acupuncture or chiropractic treatment?
* Does the plan cover the costs of delivering a baby?
Here are some questions you should ask yourself when choosing a health insurance plan:
How affordable is the cost of care?
* What is the monthly premium I will have to pay?
* Should I try to insure most of my medical expenses or just the large ones?
* What deductibles will I have to pay out-of-pocket before insurance starts to reimburse me?
* After I have met my deductible, what percentage of my medical expenses are reimbursed?
* How much less am I reimbursed if I use doctors outside the insurance company’s network?
Does the insurance plan cover the services I am likely to use?
* Are the doctors, hospitals, laboratories and other medical providers that I use in the insurance company’s network?
* If I want to use a doctor outside the network, will the plan permit it?
* How easily can I change primary-care physicians if I want to?
* Do I need to get permission before I see a medical specialist?
* What are the procedures for getting care and being reimbursed in an emergency situation, both at home or out of town?
* If I have a preexisting medical condition, will the plan cover it?
* If I have a chronic condition such as asthma, cancer, AIDS or alcoholism, how will the plan treat it?
* Are the prescription medicines that I use covered by the plan?
* Does the plan reimburse alternative medical therapies such as acupuncture or chiropractic treatment?
* Does the plan cover the costs of delivering a baby?
Health Insurance Program
Should I participate in my employer’s health insurance program?
Yes, employer-sponsored health insurance plan premiums can be considerably lower priced than those for an individual health insurance plan because the plan is group rated and your employer contributes toward the cost. If your employer gives you a choice of plans, you need to understand your choices and pick the plan best suited for you and your family.
Yes, employer-sponsored health insurance plan premiums can be considerably lower priced than those for an individual health insurance plan because the plan is group rated and your employer contributes toward the cost. If your employer gives you a choice of plans, you need to understand your choices and pick the plan best suited for you and your family.
HOMEOWNERS INSURANCE INFORMATION
What is in a standard homeowners insurance policy?
A standard homeowners insurance policy includes four essential types of coverage. They include:
1. Coverage for the structure of your home.
2. Coverage for your personal belongings.
3. Liability protection.
4. Additional living expenses in the event you are temporarily unable to live in your home because of a fire or other insured disaster.
1. The structure of your house
This part of your policy pays to repair or rebuild your home if it is damaged or destroyed by fire, hurricane, hail, lightning or other disaster listed in your policy. It will not pay for damage caused by a flood, earthquake or routine wear and tear. When purchasing coverage for the structure of your home, it is important to buy enough to rebuild your home.
Most standard policies also cover structures that are detached from your home such as a garage, tool shed or gazebo. Generally, these structures are covered for about 10% of the amount of insurance you have on the structure of your home. If you need more coverage, talk to your insurance agent about purchasing more insurance.
2. Your personal belongings
Your furniture, clothes, sports equipment and other personal items are covered if they are stolen or destroyed by fire, hurricane or other insured disaster. Most companies provide coverage for 50% to 70% of the amount of insurance you have on the structure of your home. So if you have $100,000 worth of insurance on the structure of your home, you would have between $50,000 to $70,000 worth of coverage for your belongings. The best way to determine if this is enough coverage is to conduct a home inventory.
This part of your policy includes off-premises coverage. This means that your belongings are covered anywhere in the world, unless you have decided against off-premises coverage. Some companies limit the amount to 10% of the amount of insurance you have for your possessions. You have up to $500 of coverage for unauthorized use of your credit cards.
Expensive items like jewelry, furs and silverware are covered, but there are usually dollar limits if they are stolen. Generally, you are covered for between $1,000 to $2,000 for all of your jewelry and furs. To insure these items to their full value, purchase a special personal property endorsement or floater and insure the item for it's appraised value. Coverage includes “accidental disappearance,” meaning coverage if you simply lose that item. And there is no deductible.
Trees, plants and shrubs are also covered under standard homeowners insurance. Generally you are covered for 5% of the insurance on the house—up to about $500 per item. Perils covered are theft, fire, lightning, explosion, vandalism, riot and even falling aircraft. They are not covered for damage by wind or disease.
Click below to create your personal home inventory with I.I.I.'s easy-to-use tool:
DOWNLOAD: Free Home Inventory Software
Liability protection
Liability covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. It also pays for damage caused by your pets. So, if your son, daughter or dog accidentally ruins your neighbor’s expensive rug, you are covered. However, if they destroy your rug, you are not covered.
The liability portion of your policy pays for both the cost of defending you in court and any court awards—up to the limit of your policy. You are also covered not just in your home, but anywhere in the world.
Liability limits generally start at about $100,000. However, experts recommend that you purchase at least $300,000 worth of protection. Some people feel more comfortable with even more coverage. You can purchase an umbrella or excess liability policy which provides broader coverage, including claims against you for libel and slander, as well as higher liability limits. Generally, umbrella policies cost between $200 to $350 for $1 million of additional liability protection.
Your policy also provides no-fault medical coverage. In the event a friend or neighbor is injured in your home, he or she can simply submit medical bills to your insurance company. This way, expenses are paid without a liability claim being filed against you. You can generally get $1,000 to $5,000 worth of this coverage. It does not, however, pay the medical bills for your family or your pet.
# Dog Liability - VideoPlay with RealPlayer
# Play with Windows MediaPlayer
Additional living expenses
This pays the additional costs of living away from home if you can't live there due to damage from a fire, storm or other insured disaster. It covers hotel bills, restaurant meals and other living expenses incurred while your home is being rebuilt. Coverage for additional living expenses differs from company to company. Many policies provide coverage for about 20% of the insurance on your house. You can increase this coverage, however, for an additional premium. Some companies sell a policy that provides an unlimited amount of loss-of-use coverage, but for a limited amount of time.
If you rent out part of your house, this coverage also reimburses you for the rent that you would have collected from your tenant if your home had not been destroyed.
A standard homeowners insurance policy includes four essential types of coverage. They include:
1. Coverage for the structure of your home.
2. Coverage for your personal belongings.
3. Liability protection.
4. Additional living expenses in the event you are temporarily unable to live in your home because of a fire or other insured disaster.
1. The structure of your house
This part of your policy pays to repair or rebuild your home if it is damaged or destroyed by fire, hurricane, hail, lightning or other disaster listed in your policy. It will not pay for damage caused by a flood, earthquake or routine wear and tear. When purchasing coverage for the structure of your home, it is important to buy enough to rebuild your home.
Most standard policies also cover structures that are detached from your home such as a garage, tool shed or gazebo. Generally, these structures are covered for about 10% of the amount of insurance you have on the structure of your home. If you need more coverage, talk to your insurance agent about purchasing more insurance.
2. Your personal belongings
Your furniture, clothes, sports equipment and other personal items are covered if they are stolen or destroyed by fire, hurricane or other insured disaster. Most companies provide coverage for 50% to 70% of the amount of insurance you have on the structure of your home. So if you have $100,000 worth of insurance on the structure of your home, you would have between $50,000 to $70,000 worth of coverage for your belongings. The best way to determine if this is enough coverage is to conduct a home inventory.
This part of your policy includes off-premises coverage. This means that your belongings are covered anywhere in the world, unless you have decided against off-premises coverage. Some companies limit the amount to 10% of the amount of insurance you have for your possessions. You have up to $500 of coverage for unauthorized use of your credit cards.
Expensive items like jewelry, furs and silverware are covered, but there are usually dollar limits if they are stolen. Generally, you are covered for between $1,000 to $2,000 for all of your jewelry and furs. To insure these items to their full value, purchase a special personal property endorsement or floater and insure the item for it's appraised value. Coverage includes “accidental disappearance,” meaning coverage if you simply lose that item. And there is no deductible.
Trees, plants and shrubs are also covered under standard homeowners insurance. Generally you are covered for 5% of the insurance on the house—up to about $500 per item. Perils covered are theft, fire, lightning, explosion, vandalism, riot and even falling aircraft. They are not covered for damage by wind or disease.
Click below to create your personal home inventory with I.I.I.'s easy-to-use tool:
DOWNLOAD: Free Home Inventory Software
Liability protection
Liability covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. It also pays for damage caused by your pets. So, if your son, daughter or dog accidentally ruins your neighbor’s expensive rug, you are covered. However, if they destroy your rug, you are not covered.
The liability portion of your policy pays for both the cost of defending you in court and any court awards—up to the limit of your policy. You are also covered not just in your home, but anywhere in the world.
Liability limits generally start at about $100,000. However, experts recommend that you purchase at least $300,000 worth of protection. Some people feel more comfortable with even more coverage. You can purchase an umbrella or excess liability policy which provides broader coverage, including claims against you for libel and slander, as well as higher liability limits. Generally, umbrella policies cost between $200 to $350 for $1 million of additional liability protection.
Your policy also provides no-fault medical coverage. In the event a friend or neighbor is injured in your home, he or she can simply submit medical bills to your insurance company. This way, expenses are paid without a liability claim being filed against you. You can generally get $1,000 to $5,000 worth of this coverage. It does not, however, pay the medical bills for your family or your pet.
# Dog Liability - VideoPlay with RealPlayer
# Play with Windows MediaPlayer
Additional living expenses
This pays the additional costs of living away from home if you can't live there due to damage from a fire, storm or other insured disaster. It covers hotel bills, restaurant meals and other living expenses incurred while your home is being rebuilt. Coverage for additional living expenses differs from company to company. Many policies provide coverage for about 20% of the insurance on your house. You can increase this coverage, however, for an additional premium. Some companies sell a policy that provides an unlimited amount of loss-of-use coverage, but for a limited amount of time.
If you rent out part of your house, this coverage also reimburses you for the rent that you would have collected from your tenant if your home had not been destroyed.
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