Posts Tagged ‘m’
Thursday, July 16th, 2009
by Graham McKenzie
On insurance policies in the UK you are likely to see a waiver of excess. This is a part of the insurance policy that is similar to a deductable in the United States. It?s the amount of money that you have to pay before the insurance company covers the damages to your vehicle. If you travel to the UK and have to rent a car then you?ll be likely to see a waiver of excess.
It?s important to remember that a waiver of excess is only paid if the damages exceed the deductable amount. So if your deductable is $1,000 and the accident is $2,000 then you will pay the $1,000 and the insurance company will take care of the rest. Waivers of excess, like deductibles, are not included in the premium that you have to pay for your car insurance. This means that you?ll have to pay it after an accident or other event has occurred. You only have to pay it if you want the damages to be covered by your policy.
In some accidents the damage is very little and you may not want to report it. In other cases the person who?s at fault may have their insurance cover the damage to your car. In either case you may want to avoid paying the excess waiver and higher premium costs from having an accident. If you?re a young driver then you will want to consider this heavily as your insurance premium is likely to skyrocket even with a minor fender bender.
Your excess waiver amount will vary depending on what insurance plan you decide to go with. The higher the deductible that you choose the lower insurance premium will be. If you are a safe driver and have very few claims then you will benefit more from having a higher deductible. However this can cause problems if you are in an accident and end up not being able to pay the excess waiver at the time.
You may see a waiver of excess expressed as a percent from time to time. A percent can be beneficial or harmful to you. The lower the total cost of repairs is the better it will be for you however if the damage is high then you?ll have to pay more then you may have originally thought.
The waiver of excess that you pay will go towards the damages done to your vehicle. The damage doesn?t have to be caused by an accident it can be also caused by theft or bad weather. You can increase the coverage if you have a more expensive vehicle and want to have to pay less to repair it.
A waiver of excess is not singled out to auto insurance policies. A waiver of excess is often found on health, travel, and home insurance. You should remember that if there?s damage to a rental car you may have to pay it out of your pocket and then be reimbursed by your insurance.
Tags: A, auto insurance, automobile;truck, automotive, c, car insurance, cars, e, f, finance, i, insurance, m, money, o, u, v, vechile insurance
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Monday, July 13th, 2009
by Graham McKenzie
Before you decide to get car insurance, it?s important to know a little bit about insurer investments. Every car insurance company looks at their customers as either bad investments, or good investments. If you are a good investment you will end up getting much lower rates. This is because you are a lower risk for your insurance company.
There are several different factors that your car insurance company takes into consideration when determining how much of a risk you are. Younger drivers, for example, have higher insurance costs than older drivers. Younger drivers have less experience driving and get into more accidents, so it only makes sense that their insurance will cost more. Studies have shown that young men get into more accidents than young women, so their costs are often even more expensive. After a few years of driving experience without any accidents the rates for these individuals should subside.
Another huge factor that determines if you?re a huge risk is your driving history. You can expect your insurance premiums to increase if you?ve been in an accident recently. They will usually stay this way for a few years. To avoid an increase in premiums you can choose not to report a minor accident to your insurance company.
If you own a sports car you can expect your rates to be higher as well. Damages on your vehicle will cost more to repair and you are expected to be at a higher risk for accidents. If you need lower rates it?s better to own a regular car or truck. Remember that any damages done to any extras you put on a car are not compensated for.
Surprisingly, car insurance agents also calculate your rates by the area you live. Your zip code is given a certain risk assessment, and that will play a factor in how your rates change. If you live in the inner city you rates will be more expensive than if you live in the country. This is because there is more theft and vandalism. Sometimes collage students will register their car insurance with the address of their parent?s home to escape these higher rates.
Sometimes a car insurance company will lower your rates if you are a good driver or if you have been with them for several years. If they are willing to do this for you it means you are a low risk investment. The insurance company feels that they will be making more money from your monthly payments compared to what they will have to pay for your accidents. To lower these rates further you can try taking out more than one type of insurance with the same company. When you take out multiple insurances they will get more money without changing much of their risk. If you are trying to get good rates will want to make sure you are being the lowest risk possible to your insurance company.
Tags: A, auto insurance, automobile;truck, automotive, c, car insurance, cars, e, f, finance, i, insurance, m, money, o, u, v, vechile insurance
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Tuesday, July 7th, 2009
by Graham McKenzie
Truck driver liability insurance is just like a normal liability plan, except that it covers your truck instead. This type of insurance is mostly involved with business owners who want to protect their delivery trucks. If you have a truck in your businesses it is required to have this insurance or you can be punished by the law.
Truck liability insurance protects the truck against damage caused by an accident. What would you do if your truck got into an accident and you lost your means of transporting materials? If you didn?t have the money to replace your truck you’d have to delay the rest of your shipments, pay for any of the materials that were damaged, and possibly face losing some of your customers. When you first start your business this could be enough to ruin all of your plans.
See what coverage is offered by your insurance plan. It may offer protection to your truck, the truck driver, and maybe the other vehicles that were involved in the crash. You may even want to like to know if the coverage to your truck is provided only when you are driving or also when you are not there in the truck. It may be that your truck gets hit when you h ad parked it on the roadside, so you may need insurance for this too. A good feature of the truck driver liability insurance is that it is considered lawful in all states, so you are free to drive your truck to any state of US.
Keep in mind that if you are making cross-state trips you will have to have a DOT number. All commercial vehicles crossing state lines, even from other countries, must have this number. Passenger, private, and exempt commercial vehicles are all included.
Getting insurance for your cargo loads is also a god idea. A huge truck may contain cargo worth thousands of dollars, which maybe destroyed if your truck gets involved in an accident. However, the insurance plans generally cover only a certain kind of cargo loads, so you must carefully check with your insurer before getting anything loaded on your delivery truck.
There are times when a truck is needed by business owners for just a couple of days, like for example simply to drive home their commercial vehicle from the dealer. Under such circumstances, you may need to purchase a short-term insurance plan. Most of the insurers offer a cover of up to four days, with per day rate basis. This offers you a lot of time to make speedy deliveries if need be.
One of the things you will have to change most often with your truck driver liability insurance is the drivers that are covered on your plan. Every driver must have an appropriate license and proper training to be allowed to drive your company truck. Furthermore, before a driver can be covered by the plan they must be approved by your insurance company. Do not hire any drivers with a bad driving record as they may be denied or because your insurance rates to go up.
Tags: A, auto insurance, automobile;truck, automotive, c, car insurance, e, f, finance, i, insurance, insurance cars, m, money, n, o, p, personal finance, u, v, vehicle insurance, vehicles
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Wednesday, July 1st, 2009
by Kathey M. Wright
Many people are often concerned about obtaining health insurance. They are confused about their options or about how to obtain the best health insurance for them or their family. There are several ways to obtain health insurance, though, and some of them are not always obvious, but can be quite easy in the end.
Health insurance is commonly obtained through an employer. Nearly all employers these days offer some sort of “group” health insurance plan for employees. The term “group” simply denotes that there is a large group of people on the plan, which decreases the cost of the monthly premium for all members. These plans can cover yourself, your spouse, and your family, depending on the specific policy.
With people living longer, health insurance companies began to look for more ways to reduce their costs, developing different health plans such as PPOs. PPOs are plans which will cover nearly all of your medical expenses as long as you stay within a preferred network of physicians or hospitals. This network creates a “preferred provider” list that you can choose from. Treatment outside this network of providers is covered but only at a reduced rate, meaning you end up paying more to see a physician outside the network. By limiting the physicians and hospitals covered in their network, the insurance company can control, to an extent, their costs and lower your premiums. POS plans work like PPOs, but require you to have a primary care physician through whom you can receive referrals for specialists. If you need to see a neurologist or a dermatologist, you must first visit your primary care physician for an initial diagnosis in order to receive a referral to a specialist for a more thorough diagnosis. POS plans also have a preferred provider network, and if you choose to visit a specialist or physician outside that network, your coverage will be limited.
If you leave an employer who offers group health insurance without first finding other coverage, you can also use the COBRA law with your previous employer’s health insurance coverage. COBRA is a government act that allows you to continue coverage under your previous employer, though at a more expensive rate. If you had coverage for your entire family, COBRA will allow you to continue this full coverage for a certain period of time.
Another item you should definitely consider is if your current physicians or specialists are included in the health insurance company’s preferred provider network or if you have the opportunity to choose any physician (often the case only with indemnity or traditional health insurance plans). If you would like the freedom to choose your own doctor, traditional health insurance plans or preferred provider organizations may offer more attractive plans – though these also cost a little more.
Again, it is important to carefully consider each option before choosing a single health insurance plan. Your health is important-make sure it is protected in the best way possible.
About the Author:
For the best insurance information and resources please check us out!
Tags: A, affordable car insurance, auto insurance, car insurance, f, finance, h, health, home insurance, i, insurance, insurance quote, life insurance, m, medical insurance, n, u
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Monday, June 29th, 2009
by Tom Martens
One of the biggest days in a teen?s life is the day they earn their driver?s license. But with that little piece of plastic comes tremendous responsibility. It is important to make sure that, as a newly licensed driver, you have proper car insurance coverage.
But car insurance for teen drivers can be very expensive. Teen drivers are considered high risk drivers due to their inexperience, which means they can expect to pay high rates for their insurance premiums. Don?t let that stop you from earning your driver?s license, though. With careful planning, teen drivers can find ways to save money on car insurance.
The first thing a teen driver needs to do is to get several quotes. These quotes should come from licensed insurance providers. Different companies define teenage risk in different ways, which means one company may charge you a lot while another company may only charge you a little. There is a lot of competition in the insurance trade, and an insurer who knows you are talking to a competitor, might, just might, be willing and able to offer you a lower premium. But you have to ask, and you have to be willing to negotiate. Fortunately, the Internet makes doing insurance research and shopping for premiums a lot easier than it used to be.
If you haven’t already, look into taking basic driver education and/or defensive driving. Taking and passing these courses shows insurers that you are serious about driving safely. It allows them to rate your policy as a lower risk, and keeps your insurance costs down, usually about 10%. Talk to an agent about which courses are available to qualify you for a safe driver discounts.
Check with your insurance provider to see if they offer discounts for good students or belonging to a club or organization. Also, see if they will extend to you a discount if your parents belong to an eligible club or organization. Ask the insurance provider what other discounts are available to you. And here is where the internet comes in handy again. Do research to see if there are any discounts that you qualify for and are not aware of.
Another way to get a great discount on your car insurance is bundling. If you parents have home or life coverage, sometimes their insurance providers will bundle all your policies and offer a discount. Sometimes this discount can be really substantial. And check whether the insurance company offers discounts to household that have multiple drivers or own multiple cars. This is another terrific way to lower your car insurance costs.
See about insurance before you take your driving test. Your agent can answer all the questions you have about car insurance, examining your individual situation to make recommendations that make sure you have all the coverage you need before you ever sit behind the wheel. It will take some effort, time, and research, but you could end up saving a lot of money on your premiums, which makes the effort worth it.
Tags: A, auto insurance, automobile;truck, automotive, c, car insurance, e, f, finance, i, insurance, insurance cars, m, money, n, o, p, personal finance, u, v, vehicle insurance, vehicles
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Thursday, June 25th, 2009
by Graham McKenzie
If you drive a car and have insurance then you probably want to find a way to reduce your excess. Excess is the money which you have to come up with out of your own pocket if you ever need to make a claim for any reason. This amount can vary widely depending on many factors and some people feel that there is no good way to reduce it. Despite this, there are methods which exist that can help to not only reduce your excess but also reduce your monthly premium.
One method which some people choose to use to reduce their excess is to pay a higher premium. Most insurance companies offer a lower excess by raising the premium. While this is the only method which guarantees a lower excess it is often not as good of a deal as it may seem at first glance. In most situations, the higher premium applied each month will end up costing more than the excess saved in a matter of only a few months. What this means is that in most cases, unless you are making claims every two to three months, you will spend more money in this method than you would by paying a higher excess.
Students and parents of students who have good grades are able to receive a reduction on both their premium and their excess from many insurance companies. This is because most insurance companies offer what is known as a good grades deduction. This deduction is offered because most insurance companies view students who have good grades as students who are more mature and therefore less likely to be involved in an accident.
Practicing safe driving habits over time can lead to lower premiums and a lower excess payment. This is because practicing safe driving habits will reduce your odds of having an accident by a considerable margin because most accidents occur because both people make mistakes which could have been avoided. Over times this leads to the insurance company viewing you as being less risky, which means they are able to offer you the same insurance and lower excess without increasing your premiums. In some cases they can even reduce your premiums.
Another thing that you can do to reduce your excess is to ensure that you are giving the insurance company any information which may lead to a reduced premium and excess. Having children, being married, having a long term job and having a good credit history can all prove to the insurance company that you are responsible. This also leads them to view you as a lower risk which can lead to reduced premiums and excess.
The final method which you can use to help reduce your excess is to look around. Every insurance company is different in the rates they charge and the features they offer at those rates. Some offer bigger benefits to people who fall into specific categories while others may not. By taking the time to investigate several carriers you improve your odds of finding a better excess without having a very high premium.
Tags: A, auto insurance, automobile;truck, automotive, c, car insurance, cars, f, finance, i, insurance, m, money, n, o
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Wednesday, June 24th, 2009
by Amy Nutt
When your car breaks down, it is never a fun experience. It has happened to just about everyone at one time or another. No one wants to be in that situation but there are steps you can take to help you get through it, particularly if you are not a member of an auto club. If you have a membership to an auto club then you simply need to call them for roadside assistance. It is said that an ounce of prevention is worth a pound of cure. Therefore, especially if you have to handle a breakdown yourself, it is best to be prepared. Have everything in your car that you may need if you get stranded somewhere. If possible, the first thing you should do is pull safely over to the side of the road.
- Cell phone: You are never going to appreciate having a cell phone more than you will if your car breaks down. If you have a cell phone you can call a service station and at least get a tow, if possible. If that is not possible, you can at least call someone to pick you up.
- Flashlight: The possibility always exists that your car can break down while you are driving at night. If it does, you will want to have a flashlight handy. – Reflective warning triangles: These will help protect you and your vehicle in case of a breakdown. Once you are over to the side of the road, turn on your hazard lights to alert traffic that may be headed your way.
Once you do this, follow these tips
- Enter and exit your car using the door that is furthest away from traffic.
- Place at least 2 reflective triangles behind your car and one in front of your car. Place the farthest one approximately 50 feet behind your car.
- If possible, move away from the car to make your phone calls and also have your passengers move away from the car.
- Call a tow truck, a ride, or the police. It is only natural to worry about your car but the first priority is your safety and your passengers safety.
Most importantly, dont panic. If you are not in a familiar area or you are travelling and do not know who to call, contact the police. These are very stressful situations and there is no need to try to handle them alone under these conditions. Keep the priorities straight. Ensure the safety of yourself and your passengers first and then the protection of your car. The car can be replaced, a human life cannot.
If you have ever had a car break down, you are well aware of the benefits of having an auto club membership. More than anything else (and there is a lot) they provide you with peace of mind. Breakdowns happen, just make sure you know how to stay safe when they happen.
About the Author:
Travel worry free on the road with an auto club membership. CAA Travel and roadside assistance is a good insurance while you are on the road.
Tags: A, auto, auto club, auto insurance, automobile, automobile;truck, automotive, c, car, cars, d, driving, e, emergency road, i, insurance, m, mechanic, n, r, t, towing, travel, u, v, vacations, vehicles
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Tuesday, June 23rd, 2009
by Graham McKenzie
There are not many people that would argue that business use is different than personal use. The thing that most people struggle with is the difference between the two. Being that car insurance is a very important aspect in our lives; we need to know what constitutes business use and what determines personal use.
When a business chooses to get a car insurance policy, they need to look at a few things. First, they need to address who will be on the policy. For example, in a personal policy, you have the responsibility of your family. Your family is a lot less liable than your business, even if you have a teenager. The best thing a business can do is retrieve the applicants driving record before they hire them on as an employee. By doing this, you are ensuring your insurance premiums to not skyrocket as well as the fact that you would even be able to add them on.
The way the business policy works is to allow the business owner to decide what is most plausible for their business practices. For instance, you would want to carry additional coverage if you were transporting expensive materials or delivering important items. In a personal policy, you will not have to worry about that. This is one distinction between personal vs. business car insurance.
Lines can often times become blurred when deciding whether or not you have used your car more for business or for personal use when the same car is being used. To avoid this confusion, it is advised that you use a logger for miles and gas. This will help differentiate which miles were used where.
Some people feel their use for business reasons does not weigh in enough to matter. In these cases, a personal policy is appropriate and they need to work that out with the insurer. A personal policy is often times less expensive than a business policy; however, the personal car insurance policy will go up. This is because you have increased risk because it is being used more. In any case, it is extremely important that you inform them as soon as possible. Failure to do so will forfeit your chances at a claim if they find it was for business use.
People often do not see the difference between personal and business use because they are so accustomed to doing it. If you have received a promotion and are required to drive to location, etc.; you are using your vehicle for business use. The same could be said about realtors. Each time a realtor drives to a property to show it or do anything, they are using it for business use. Even if the employer is giving gas, toll and mileage reimbursement, you are still required to have business coverage.
Whichever road you find yourself on, do not be caught without appropriate coverage. There are many different ways you can get the best deal for your situation so it is advised to talk with a car insurance agent.
Tags: A, auto insurance, automobile;truck, automotive, c, car insurance, cars, f, finance, i, insurance, m, money, n, o
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Tuesday, June 23rd, 2009
by Tom Martens
If you are planning to purchase, or if you have already purchased, an imported car, getting the vehicle insured so you can get it on the road is a top priority. However, finding coverage for your import can be time-consuming, frustrating, and expensive. But it’s not impossible. Just be ready to ask questions and possibly contact several insurance agents to get the coverage you need.
Keep in mind, while you can get a deal on importing a car, you may lose whatever money you save when you purchase insurance for the car. That is why it?s important to get an insurance quote before you import the car. Shop around and get several insurance quotes in order to get a competitive rate. If your imported vehicle is a sports car, expect to pay more for insurance. That?s because sports cars traditionally cost more to insure simply because they are more prone to accidents.
Most insurance companies will insure an imported car as long as they can locate the car?s registration number. If they cannot locate the registration number, then see if the insurance company can find the exact vehicle model in the company look up table. If that does not work, then see another insurance provider.
Some companies will only offer policies for the most popular models, and then only for market value. Other companies will write policies for modified imported vehicles as long as the modifications are not “substantial.” If the modifications are deemed “substantial,” then you probably need to find a carrier specializing in substantially modified imported cars. One carrier may rate your modifications are “substantial,” while another may not. That’s why it can be very important to do you research.
In addition, some insurance providers will not insure imports that are European versions of a UK car, but with left hand drive. This is something to keep in mind when importing a car and trying to obtain an insurance quote.
Don’t forget to check your car’s security fittings. These are very important for determining whether your vehicle can be insured at all, and also have considerable impact on cost. Not having the proper security fittings
While insuring your import may be time-consuming and expensive, it’s not impossible. Do your research. Ask Questions. Call your importer and ask for their advice for obtaining insurance. And if you are importing a sports car, you can often get insurance at a discounted rate simply by joining a car club. Clubs often make deals with insurance companies for their members?ask about the benefits available to you. Finally, make sure you get comprehensive coverage for your imported vehicle. You imported car is an expensive investment, and it needs thorough insurance protection.
Tags: A, auto insurance, automobile;truck, automotive, c, car insurance, e, f, finance, i, insurance, insurance cars, m, money, n, o, p, personal finance, u, v, vehicle insurance, vehicles
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Thursday, June 18th, 2009
by Graham McKenzie
In all, an automobile insurance policy will have the names drivers as those that are going to be authorized to drive the car. Many policies only contain one named driver, however, if you have a household with other adults that can drive, you might want to consider placing them on as well.
Having more than one named driver on a policy has its good points as well as has some drawbacks. It is obvious that the good points would include complete coverage, flexibility in drivers, etc. This is especially nice for those parents who have multiple driving age children. This allows them to use the same car while all being covered.
The major downside of named drivers on an insurance policy is the extra cost that is brought about when placing them on. The insurance company sees them as a greater liability for a few reasons. The main reason is that you have just increased your chances of an accident with multiple drivers. Also, they are not as experienced or familiar with your car usually. Other factors that might raise this amount are the age of the driver and the experience of the driver. New drivers have very high rates.
Being that named drivers is a constant occurrence, you can eliminate costs by choosing a company that allows you to add temporary named drivers. Sometimes this is helpful for family vacations or someone needing to use your car for a set amount of time. This covers appropriately as well as not being a consistent cost. It would be a onetime fee.
Keep in mind, only named drivers on a policy will be covered under the insurance policy. If you allow someone to drive your car, for whatever reason, you are responsible for them if they were to get into an accident or harm your car in any way. In this, it is best to not allow anyone that is not on the policy drive your vehicle.
Taking steps to legally minimize costs associated with adding drivers on instead of letting them illegally drive your car is seem through joint policies. In other words, if a newer or younger driver is looking to get car insurance, they can opt to go onto their parent?s insurance policy. This is a common way parents lower premiums. It is also becoming largely recognized by insurance companies as well.
Alternatively, you could have the parents be listed as named drivers on the newer driver?s policy. Although it is not as commonly used, it is still legal and being practiced.
In all, it is very important that you take the time to shop around for insurance and carefully consider who you are going to be listing as a named driver. This is one area that deserves great attention because the consequences of not insuring properly can be disastrous.
Tags: A, auto insurance, automobile;truck, automotive, c, car insurance, cars, f, finance, i, insurance, m, money, n, o
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