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Insurance

Will Regular Servicing Keep Your Insurance Premiums Down?

When it comes to owning and maintaining a car in Asia, things can get very expensive very quickly. In highly populated areas like Hong Kong, congestion levels are staggering. At peak times, there are an estimated three hundred vehicles filling up every kilometre of the road. It’s fair to say that the people of Hong Kong are familiar with wall to wall traffic jams on the way to work – on the way back as well. This level of traffic congestion is what makes owning a car in Asia so expensive.

However, there are ways to lower the cost of owning and driving a car. The first is to ditch the vehicle and start taking public transport – the buses, trams and trains in Asia are some of the most reliable in the world. If you’re not yet willing to do anything quite so radical, you could always focus your attention on making your vehicle as safe as possible. Just like in Britain, the condition of a car can greatly affect the insurance premium that you have to pay.

The key to maintaining an optimum vehicle condition is with semi-regular servicing. This does cost drivers more money, but it can make a big difference to their premiums in the future with companies like Direct Asia. Yet, even this isn’t any use if you’re not driving the right kind of vehicle in the first place. A brand new vehicle will attract very high premiums, as will a sports car or a vehicle that is older than ten years. It’s a delicate balancing act between the right kind of car and the wrong kind, between a positive service history and a negative one.

For example, you do want your service history to show that you care for the maintenance of your vehicle. You do want there to be evidence of regular scheduled checks and routine wear and tear repairs. This is bound to positively affect your insurance premiums, because it shows that you are willing to take responsibility for the safety of your vehicle. What you don’t want to do is take your car to be serviced or repaired too often. According to experts at HowStuffWorks.com, it can make your vehicle look as if it needs a lot of focused attention.

If you want to attract low premiums, you are advised to drive a car that is between two and ten years old, say the experts at Confused.com. It won’t be new enough to be considered high risk for superficial damage, but neither will it be old enough to be considered a break down risk. Do take your car for a service twice a year, but avoid running up unnecessary expenses on a vehicle that isn’t really worth the effort or the trouble. If you have a car that keeps breaking down, it could be cheaper in the long run to invest in a much better model.

The influence of your service history will depend on what kind of maintenance your vehicle regularly needs. If it only requires a scheduled tune up or a few superficial repairs, it’s unlikely that your service history will negatively impact your insurance premiums. However, if your car has regular engine, brake or suspension problems – you might find that your premium shoots up very quickly. The simplest way to earn yourself a lower premium is still the best one. As long as you drive safely and considerately, you shouldn’t fall prey to unaffordable running costs.

Insurance

Insurance For Single People

When you have a family, the need for insurance is pretty obvious, and the bill for it all can be a real expense of its own. For single folks, though, it’s easy to think that all insurance is just wasted money. Although that’s true for some coverage (most notably whole life), other forms are just as important for you as for others.

LIFE INSURANCE

If nobody relies on your income, you don’t need to take steps to perpetuate that income once you’re gone. However, it’s good form to have enough coverage to handle the kind of sendoff you asked for in your will. If that’s just donating your body to science, you really don’t need any coverage at all. If you want an old-fashioned wake and a big marker for your memorial, a term life policy can provide the funds at a low cost.

DISABILITY INSURANCE

You don’t need life coverage to handle your expenses when you’re gone, but you still need to eat and pay rent if you’re hurt or seriously ill. Disability insurance does exactly that by replacing your income while you recover. This is the only form of insurance that’s more important for single people than for people with families, since married folks can still rely on a spouse for some income while they’re ill. Inexpensive disability coverage is often available through your employer, or you can shop through a broker to get the most appropriate policy for your needs.

RENTER’S INSURANCE

Single people who have bought a home should carry the same kind of homeowner’s insurance as a married couple with the same property. If you’re still renting, a renter’s insurance policy is designed to provide the same protection against theft and damage that a homeowners policy would. In most cases, this kind of policy – though very inexpensive – is usually unnecessary. If there’s a fire or catastrophe, your landlord’s insurance will cover damage to the building. As for your possessions, a typical apartment or home doesn’t have enough of value to bother insuring. Homeowner’s insurance is important because of the value of the home. The only exception is if you own collections or other items of exceptionally high value, in which case you should insure those items specifically as normal renter’s coverage won’t typically cover them.

AUTO INSURANCE

The law says you should carry auto insurance if you want to drive, and each state mandates a certain minimum level of bodily injury coverage. However, that minimum amount may not be enough to pay for your entire recovery – including lost income – if you are at fault in a serious auto accident. It’s a good idea to increase your bodily injury coverage to an amount that realistically pays out what serious medical care is likely to cost.

Read also: How Do You Prove That A Parent Is Unfit?

Insurance

The Importance of Landlord Insurance

Take a look at http://www.totallandlordinsurance.co.uk/ to learn more

As far as personal finance goes, one of the most profitable ventures that a willing investor can enter into is to buy a property which can then be subsequently rented out for a regular profit. With the rise of affordable housing and condominium units that are attractive for students, young professionals or people who simply cannot afford to buy their own house at this point in time, the opportunities in this thriving business segment is indeed bright and abundant. 

However, it is fairly common knowledge that one of the more established deterrents to renting out a property is the risk that the landlord absorbs in case the tenants inadvertently damage the property. Ever so often, we hear of scary stories where properties are damaged by tenants who are unwilling to shoulder the expenses necessary to have the property repaired. As a result, landlords shell out their own personal money to have the properties repaired before it can be rented again. 

Thankfully, now it is possible for a property owner to secure landlord insurance to protect himself or herself from the risk of property damage without having to shy away from the renting business altogether. Some financial institutions actually specialize in providing landlord insurance and offer a variety of packages suited to one’s landlord portfolio. Whether you are a first-time landlord or you own a vast array of properties that you rent out for residential and commercial purposes, you are guaranteed to find a landlord insurance that works for you. 

Like most types of insurance, one only needs to come into an agreement with the insurance provider as to the specific coverage of the policy. Afterwards, all that remains is for the landlord to pay the appropriate premium fees for the policy to take effect. During the period of coverage, the insurance firm will shoulder the repair expenses for properties that are insured provided that the damage is in accordance with the insurance agreement. In this way, the landlord is insulated from all the repair expenses while continuing to reap the benefits of having rented a property. 

According to a fire attorney with landlord insurance now available, property owners no longer have to fear the idea of inadvertent property damage after they rent out their property. Gone are the days when a landlord sits down and agonizes over how to pay for property repair. Now, all that one worries about is getting the right landlord insurance and everything else falls into its proper place. 

Consider this a golden opportunity to grow your personal finance portfolio by renting out your properties and then securing the right insurance to cover the risks. With the right landlord insurance, you can sleep soundly and still earn comfortably without having to worry about your property. 

Insurance

How to Shop Around for the Best Life Insurance Quotes

Finding the best Life Insurance Guideline is something that many people hope to do, but often have a hard time sifting through the hundreds of different companies that offer life insurance policies. Many companies have several different life insurance policies that are available to consumers, each providing different coverage with huge ranges in price. There are a few tried and true techniques that you can use to evaluate the life insurance quotes that you have available to you, and narrow down the list of options to only those companies that deserve consideration.

Make an Initial List

Start by making an initial list of companies that you would like to consider using for your life insurance policy. This list can come from a number of sources, including your local area, online quote providers, and any other source that you have to find life insurance companies. Start by making your initial list, and then you can go about researching the companies to find the policy that is going to suit you and your family best. The initial list should be around 10 different companies or policies, so that you have plenty of material to work with when you begin researching the company.

Read Reviews

Once you have a list of companies that you are considering, the next thing that you need to do is to become familiar with the companies. There is no better way to evaluate a company than by reading the reviews that they have available from previous customers. This can alert you to certain issues that previous customers might have had with the company, and will allow you to avoid companies that have a reputation for not being able to take care of their customers. The more reviews that you read, the bigger of a picture you will have in order to gauge the competency of these companies. Use the reviews that you read to narrow down the list of companies that you are considering using.

Understand the Policies

Now that you have your list narrowed down to just a few companies, you need to understand the policies that they have available. Read all of the fine print of each of the policies that you are considering so you can understand the policies in full, and know what the potential pros and cons of each policy are. Know exactly what can void your policy, and how you can avoid breaching the terms of your policy.

Compare Prices

Also compare the prices of the policies between the different companies that you are considering. Remember, higher quality policies that generally force companies to take on more risk are going to cost more. Also weigh the price of the life insurance policies against the guaranteed and potential payouts that are given by the policy when necessary. Price is a huge consideration when you are choosing a life insurance policy, so take your time and evaluate all of the options that you have in front of you. Also make sure that you have a proper budget in place, so you know where to draw the line in terms of which policies are available to you.

Speak With Them

Once you have your list down to just a few life insurance plans, the last step is to speak to them about your decision. This can give you a good indication of the customer service that they provide, as well as giving them a chance to sell you on their policies. Ask any questions that you might have about the policy, and ask them to explain aspects that you do not understand, in full. By speaking to them, you give them the chance to quell any of your concerns and can give you one last evaluation to work with when making your final decision.

Author Bio: This article was written by Chuck Henry of Wonga.com a company that helps with short term loan needs.

Insurance

10 Ways To Save On Insurance For You Car

Are you a frequent traveler?  Do you travel for work, for pleasure, or are you one of the lucky ones that actually manages to be able to do both?  More and more people, despite the price of gas, are trying to travel by car – if for no other reason than to avoid the lengthy, invasive security checks, lost luggage, delays and more.  Traveling by train is an amazing experience, that should be tried by everyone at least once, but it is, without a doubt, a pricey little endeavour.  Whether it’s business, pleasure, or both you should have the appropriate insurance on your travel-mobile… your car, SUV… what have you.  When is the last time you researched auto insurance quotes?  Because I know you insure your automobile for all that travel.

#10 Payments

Woman calculating and writing

How often do you make payments on your premiums?  Making payments once a year is less expensive than making them every month.

#9 Membership Discount

Surely you’ve heard that ‘membership has its privileges’.  Actually, that’s true!  At least in some cases, being a member of a certain organization may entitle you to specific discounts.

#8  Retired?

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Are you a retired traveler?  As early as 55 or later at 65 people may be able to enjoy discounts for retirement.  If you’re not sure about your insurance company’s policy… ask!

#7 Car Alarms

How secure is your car?  We’re not talking about safety here – that’s another story – but how difficult have you made it to break in and steal your car?  Got alarms?

#6 Here Is Safety!

More and more safety features are being added to new cars by certain car manufacturers.  So obviously, the more safety devices you have, the safer you should be.  The safer you are, the better your auto insurance company feels about giving you discounted insurance premiums.

#5 Credit Score

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Have you checked your credit score lately?  How does it compare to when you first started up with your current insurance company?  If your score has improved your rates could go down.

#4 Old Car?

What is the age of your car?  Older cars, that don’t have a lean or are leased, should cost less to insure than brand new just off the lot.

#3 I’ve Had Insurance For…

Loyalty also sometimes has its privileges.  The longer you are with an insurance company the less you should pay.  Or at the very least, get vanishing deductible.

#2 Multiple Vehicles

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How many vehicles does your family insure?  Do you have renters or homeowners insurance?  A boat, RV, motorcycle, ATV… that need insurance?

#1 With Age Comes Discounts

How old are you?  Whereas young, inexperienced drivers pay a higher premium… older, more mature, experienced drivers should be allowed to pay less.  Makes sense, right?

Any traveler will tell you that insurance is a must be it travel insurance, car insurance, trip cancellation insurance… you name it.  Driving in strange areas can be an experience all its own.  Not being insured, when driving around in traffic that you are not familiar with is nothing less than an invitation for disaster. This was the reason to look for consultation from the car accident attorney near me. Paying for the right insurance coverage can be far less financially devastating than the final result of an accident, in a faraway place.