Affordable car insurance is something that everyone wants to find. Before you can look for low cost car insurance and browse online car insurance quotes, you need to understand the basic elements that make up car insurance. Affordable car insurance can only be yours if you know what you are doing, right?
Types of Car Insurance
Liability coverage is an essential of all auto insurance policies. This type of basic coverage is required by law in the majority of states. According to Jake Hamilton, who runs used car dealerships in Minneapolis, liability coverage is the minimum insurance anyone can take. In the event of an accident, this coverage will pay for costs related to injuries sustained to those in another vehicle as well as the costs connected to repairing the damage done to the car. Affordable car insurance in terms of liability coverage can be found if you shop around from company to company.
Collision coverage tends to be more expensive and is not compulsory in most areas but is recommended if you can afford it. Collision coverage will pay for damages to your car if you are in an accident (collision) of any kind. Even if you are found to be at fault for an accident, your collision coverage will help pay for the damages to fix your car. This type of coverage also can be beneficial if you lend someone else your car to drive and that person is in an accident.
Then there is comprehension coverage. This type of coverage takes into account other kinds of damage that could occur … Read the rest...
Most car owners wish they could evade the purchase of car Insurance, especially when the insurance purchase is for a new taxi. Taxi insurance can be costly, and it’s normally more for brand new cars than for five-plus year old models. This article is aimed at helping you choose the correct premiums without putting in unnecessarily big amounts of money.
Be A Wise Buyer
There are many companies that offer London taxi insurance services. The insurance premiums are mostly based on models. The newer and more complex the model of car you decide to buy, the more premiums you are likely to pay. This is because car damage is the biggest cost auto insurers incur, and replacement parts for new models tend to be more costly. Don’t interpret this as “don’t buy an expensive car”; all I’m saying is buy a car you can afford to insure.
Pick A Reputable Insurer
Going for lower premiums is a big temptation, but if you factor in costs like having to pay extra for original car replacement parts when you need them, or low-balling loss estimates, you might find that it saves more money getting medium or high premiums. The truth is, the kind of premium amount you pay is not really as big a deal as the insurance provider. Providers can be shrewd and there are those who will even hike your premiums after an accident. In our extensive research of insurance providers that consumers are highly satisfied with, NJM, Amica and USAA scored 90% and above.
Purchase All Your Policy From One Insurer
Most insurers will give you … Read the rest...
The first step in claiming back mis-sold payment protection insurance (PPI) is always to complain to the firm who sold you the policy. Many people do this via a claims management company who specialise in claiming back mis-sold PPI.
If the firm rejects your complaint, or makes you a compensation offer you are not satisfied with, you can refer the complaint to the Financial Ombudsman Service (FOS). The FOS has experience of investigating hundreds of thousands of PPI complaints, and is an independent body set up by Parliament to rule on complaints involving financial services organisations where the complainant and the organisation cannot reach an agreement. The FOS can only get involved if you have complained to the firm who sold the policy first.
You will need to complete the FOS PPI consumer questionnaire. This is an eleven page form which includes questions about when the PPI was sold, why it was sold, your personal circumstances at the time and why you feel you have grounds for complaint. If you use a claims management company then they can be used a source of reference and provide valuable support in completing the form to ensure that your case is not jeopardized.
The firm must complete the FOS ‘response form’, which includes a section requiring them to explain why they rejected your complaint.
Key considerations for the FOS will be whether:
- you received information at the point of sale that was clear, fair and not misleading, to allow you to make an informed choice about the transaction.
- the firm took adequate steps to ensure that the PPI was suitable for you.
The … Read the rest...
The cost of vehicle insurance has shot up considerably in the last 12 months, and so has the fleet insurance. Commercial motor vehicle fleet managers have been bombarded with the rise in fleet insurance over the last four years. The following tips, if applied, can help reduce your fleet insurance premiums.
Choose the right fleet
It goes without saying that someone managing an old fleet of vehicles will spend more in insurance premiums than someone managing a new fleet. Newer vehicles are more fuel efficient, break down less and thus need fewer repairs. Moreover, most have up-to-date security systems and in-car navigation systems that are all invaluable in cost saving. It is also cheaper to install vehicle trackers, alarms and immobilisers all which are important in reducing your insurance premiums.
Pay for multiple policies
If an insurer is offering different covers as a package with your fleet insurance, you could take a run for it. Certain companies that offer fleet insurance services, for example, have public and employee liability cover with fleet insurance at a friendly cost. This will give you more value for your money.
Train and re-train your drivers
Drivers that are thoroughly trained will cause fewer accidents. There are many options for intensive causes that you could sign up your drivers on. Drivers who receive intensive driving courses or cyclist awareness causes make safer drivers. You could also get road safety scheme management tool to help you get real time reports that help manage your drivers CPD training. There are insurance providers that acknowledge particular CPD courses or providers and it’s important to talk to your … Read the rest...
When purchasing life insurance, you will have to decide whether to purchase term or permanent life cover. Sometimes, you can even purchase a combination of both. However, understanding the differences and workings of the policy will help you know which one will be best for you. Below is an overview of the policies:
Term Life Insurance Policy
With a term life policy, a benefit is only paid if the policyholder dies. The policy can be taken for a number of years (terms), usually 10, 20 and 30-year terms. If you live past the term of the policy, neither you nor the beneficiaries you had designated get any money.
Benefits of Term Life insurance
Term life is the most basic insurance policy and is typically cheaper when the risk of death is low. The premium charged for a cover increases with the age of the policyholder and increasing risks. For most people, term life insurance is the best option since it allows one to choose the length or term and amount of coverage to purchase. The coverage amounts can range from £100,000 to several million pounds.
Term life insurance can be used to cater for short term needs. For example, you can purchase a policy that expires when your children finish college. This will ensure that your children continue with education should you pass on. Another example is with regards to your home mortgage. By purchasing a cover that expires at the end of your mortgage payments, you will be sparing your loved ones from the financial burden of paying for your debt if you die before clearing it.
Permanent Life… Read the rest...
After you are involved in an accident, you can file a claim to get compensated. There are a number of things you should do at the car accident site to protect your rights and improve your chances of getting compensated. You should inform your insurance company as soon as possible and start the claims processing. When you report the accident, the insurance company will assign an adjuster to deal with your claims. The adjuster may contact you through email or phone to discuss the accident.
The adjuster may investigate the accident to determine whether you had any role to play. If you are partly responsible for the accident, your settlement may not be as large as you expect. Whether or not you had a hand to play in the accident, it’s advisable to contact an accident attorney to help you. An experienced lawyer will gather evidence from different quarters to ensure the insurance company will provide the best compensation based on the circumstances of your case.
When the adjuster is satisfied with the information gathered about the accident, he or she will look at your policy to determine the limits that may affect your claim. The adjuster will also look at the type of coverage and deductibles that apply. He or she will then propose an amount that the insurance company should offer as compensation. The amount will usually vary depending on a number of things, including the severity of your injuries and degree of fault you had in the accident.
If the accident was not serious, the adjuster will simply consider the documented losses you may have incurred as … Read the rest...
When you retire, one of the things you will have to address is what will happen when you pass on. While no one would wish to pass on, the reality is that death is inevitable. When death happens, loved ones are usually left with emotional pain and heartache because of losing someone. However, if you are the breadwinner of the family, the pain will extend beyond emotional to touch on finances.
The best gift you can leave your family when you are gone is a secure financial future. One of the expenses that you family will have to contend with is arranging for your funeral. Funeral arrangements are usually expensive and can drain the financial resources of the family. You can however ensure that your family does not suffer by taking a funeral insurance plan early in your life.
What is Funeral Plan Insurance?
A funeral insurance plan is a cover that is meant to relieve your loved ones of the financial constraints that come with having to arrange a funeral. The cover provides a specified payout, depending on the policy you took, and some additional benefits. For example, some insurance companies can provide both a funeral payout and a loss benefits to your next of kin.
Depending on the insurance company that you take a cover with, you can specify the uses of the funeral payout you are leaving your family. For instance, if you still have kids in school, you can indicate that part of the payout be used to pay their college tuition. This way, you will be guaranteeing the education of your children even when you … Read the rest...