Homeowners insurance protects your home and your personal property from loss. Here is homeowners insurance advice for any homeowner looking to save on their homeowners insurance without sacrificing necessary protection.

Buy the Right Amount of Insurance

Your homeowners insurance policy includes coverage for:

* Your home

* Your personal property

* Your assets

Your home – For your home, you need enough insurance to pay for rebuilding your home at current construction costs. To estimate this amount, multiply the square footage of your home by the building cost per square foot in your neighborhood. Do not include the cost of your land as you figure out your property coverage limit.

Your personal property – Your personal property limit is usually half of the property limit. To determine if this is enough, list everything you own and how much it would cost to replace. Also note that some types of personal property, such as jewelry, silverware, or computers, are only covered up to specified limits. Ask your insurance professional what types of personal property have specific limits so you can buy more coverage for these items if you need it.

Your assets – Personal liability coverage protects you if someone is injured while on your property. You should have enough liability insurance to protect your assets – savings accounts, CDs, stocks, bonds, etc.

Get the Discounts You Deserve

Insurance companies typically offer numerous discounts that will lower your insurance bill. Common homeowner discounts include:

* Non-smoker and senior citizen discounts.
* Discounts for safety features such as alarm systems, smoke detectors, and deadbolts.

* Discounts for placing your homeowners and auto insurance with the same company.

Ask your insurance professional about these and any other discounts you qualify for.

Raise Your Deductible

The deductible is the amount you pay out of pocket before the insurance company begins to pay. The higher your deductible, the lower your premium, so set your deductible as high as you can afford.

Shop Around

You can save a lot of money on your homeowners insurance by comparing rates on an insurance comparison website. You type in your insurance information and multiple A-rated insurance companies send you quotes.

On the best insurance comparison websites you can even talk with insurance professionals and get more advice on homeowners insurance and how to save money on your homeowners premium (see link below).

Visit http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to get homeowners insurance rate quotes online from top-rated companies and see how much you can save. You can also get more insurance advice there.

Source by ryan@thesatellitetvguide.com

Remember Hurricane Katrina? In addition to the physical devastation and loss of lives, it resulted in an insurance nightmare for many business owners and homeowners, because their insurance policies did not cover damages caused by hurricanes, tornadoes, etc. As a lawyer, I read a lot of insurance policies. Hurricane Katrina is an extreme example, but it illustrates a scenario I see all the time in my practice: many people do not realize until it is too late that their insurance policies are inadequate or unequipped to shield them from financial losses or other damages.

Almost every adult owns some type of insurance policy. Vehicle, homeowner, medical, directors & officers liability, commercial property, professional liability and travel insurance are but some examples. Other than having a general understanding of the type of coverage we have and the coverage amounts (and, of course, the premium amount), many of us don’t know how to read and understand our policies and grasp how they work in the event that we need to rely on them.

The following is some basic information that will assist you if you are a policy owner or if you are contemplating purchasing insurance.

1. What documents constitute an insurance policy?

Usually, when you take out insurance, your insurance company will provide you with an insurance certificate or “declarations” page. This lists the items insured, and the amounts. The declarations may also refer to certain policy “exclusions.” However, as a policy owner you really should be asking the insurer for a copy of the complete policy, and any policy booklet that they may issue as a companion interpretive guide. In the event that you need to rely on your policy, the Declaration document is not helpful. Furthermore, reviewing the entire policy gives you an opportunity to understand or identify any “gaps” in coverage – i.e. matters that are not covered by your insurance and for which you may want to consider obtaining extra coverage through another insurance company.

2. Do you know what your policy “limits” are, and are they sufficient?

The amount of insurance coverage you obtain is called your insurance limits. If you own a vehicle, you will have purchased liability insurance with limits of $500,000, $1,000,000 or $2,000,000, this means that if someone sues you as a result of a car accident, your insurance policy will respond to that lawsuit to the extent of the limits you have purchased. These limits are sufficient for most people, however, did you know that if you are injured in a car accident and you sue the at-fault driver who only has limits of $500,000, yet your damages far exceed that amount, and then there is a clause in your policy that will allow you to access your own policy for the shortfall? If the liability limits in your motor vehicle insurance policy is $1,000,000, then there may be an extra $500,000 available to you. That is where having an understanding of the importance of the limits of your policy will assist you when you are making the decision to purchase insurance.

It is important to discuss with your broker all of the possible circumstances that may result in you having to access your insurance policy. This discussion will dictate the amount of insurance coverage you ultimately decide to purchase. If you do not purchase insurance with sufficient limits, then, in the case of liability insurance for example, if you are sued for an amount that exceeds the limits of your policy, you will personally be on the hook for the balance – which means that your assets and income may be vulnerable to garnishment. In the case of property insurance, you will have to personally pay for any damages that are not covered by your policy – if these damages are excessive or exorbitant, the financial consequences may be disastrous.

3. What are “Exclusions”?

In my experience, it’s the exclusion clauses that leave policyholders vulnerable and most policyholders do not read them. I draw your attention once again to Hurricane Katrina. Exclusion clauses identify the events or circumstances that will result in there being no coverage under the policy. For example, residential and commercial property insurance policies may contain an exclusion for theft caused when the premises remains unlocked or unoccupied. Do you run a business out of your home? If so, most homeowner’s policies will not cover any damages caused by or a result of commercial activities. Many professional liability policies contain exclusions for damages caused by fraud or dishonest conduct. If you own a large commercial building, your property insurance may contain exclusion for certain types of boiler and furnace mishaps (i.e. those caused by wear and tear, for example). And most travel insurance policies exclude health care coverage for illnesses causally related to pre-existing or prior medical conditions, even where those conditions have been dormant for some time.

The insurance company and broker have a duty to draw all policy exclusions to your attention. Many insurers accomplish this task by sending you a letter at the outset of the policy period, advising you to review the exclusion section of the policy. Some insurers do not do this. Regardless, in order to protect yourself, when you take out your policy, ask the insurer and your broker (if you are dealing with one) to identify all the policy exclusions. The exclusion clauses are often densely worded and convoluted. Therefore, if you do not understand them, you must point advise your insurer and ask for an explanation. If you think one of the exclusions may even potentially affect you in the future, you should speak to your broker about obtaining additional coverage for the excluded item from another insurance company, or, you may ask the insurer if you can purchase an enhanced form of coverage. For example, if you own a lakefront cottage and are worried about the potential for water leakage into the basement, review your policy carefully to ensure that this type of water damage is covered, if it is not covered, you will want to purchase supplemental coverage.

4. Policy Conditions

Policy conditions are pre-requisites to coverage. They are events or conditions that are necessary to keep the insurance in place. Payment of the premium by a certain date is a simple example. Another is maintaining a security alarm as a pre-condition to insurance against losses caused by theft. Other conditions relate to the policyholder’s obligations once a claim arises – that is, the reporting requirements. The reporting requirements dictate when and how you should report a claim to your insurance company. Some policies require that you report the claim in writing and within a certain period of time. In some policies, coverage will be triggered by notifying the insurer by phone – as many of you who have been in car accidents know.

There is almost always a time limit within which you can report a claim. Some insurance policies spell this out explicitly in the policy, others simply say that notice to the insurers must be given after an incident “forthwith” or “immediately.” Regardless of the wording used, if you suspect that you have a claim that may be covered by your policy, you should report it.

Policy conditions should be regarded in the same manner as exclusions, since failure to abide by them will result in a lack of coverage. Therefore, it is important that you have a complete understanding of what they are when you purchase your policy.

5. Insurer’s Obligations When a Claim Arises

Insurers have a duty to deal with you in good faith. When you make a claim under your policy, your insurer has a duty to assist you in processing your claim, to act in your best interests and to not take an unreasonable position on coverage. If the insurer makes a coverage decision that has no basis in the policy, then it may be subject to a complaint to the Financial Services Commission of Ontario, or in a lawsuit it may be vulnerable to a claim for punitive or aggravated damages.

6. The Role of the Broker

I have previously written on this site about the role and obligations of your insurance broker. Having an understanding of how your policy works and your policy exclusions allows you to have a meaningful discussion with your broker about what your insurance needs really are. Some of the additional questions that may arise out of this discussion, and which may result in your decision to purchase additional or enhanced insurance, are listed below.

• Do you own property outside of Ontario or conduct any business activities outside of Ontario?
• Do you conduct any business activities in your own home?
• Are you a voluntary or paid officer or director of a corporation? Are you aware that you may be sued in this capacity and that insurance may be available to protect you in this instance?
• Does your workplace medical-dental policy provide sufficient coverage for all possible health-care contingencies?
• Do you travel regularly outside of Ontario and/or internationally? Are you over the age of 65 and travel regularly?

Source by aditi

Insurance is a cover used for protecting a person from the financial losses. Financial losses can take many forms. There are risks to our investments, liabilities for our actions, and risks to our ability to earn income.

The insurer and the insured are the main two parties involved in insurance. The insurer is the insurance company which will provide the cover to the insured against any financial losses. The insured may be an individual person or a group of people like an employer, members of a society, etc.

Basic categorization of Insurance

There are mainly two broad categories of insurance

• Life insurance
• Non-life insurance

Life insurance products include Life term policies, which give clean risk coverage of only the death benefit, whereas endowment or money back policies have a risk as well as savings component i.e. death as well as maturity benefit. The life insurance also includes Unit – Linked Policies in which there is a risk component and a savings component, which is invested in equity, debt or gilt funds, depending on the insurance company.

Non Life insurance products include property or casualty, health insurance or house, fire, marine insurance etc. This insurance category deals with all the non-life aspects of an insured like their house, health, land, office, etc which might bring financial loss.

There are few principles of insurance, such as:

• Definite Loss – Insurance – The event that gives rise to the loss that is subject to insurance should, at least in principle, take place at a known time, in a known place, and from a known cause. The classic example is death of an insured on a life insurance policy.
• Unintentional or Accidental Loss – Insurance – The event that comprises the trigger of a claim should be accidental, or at least outside the control of the beneficiary of the insurance. The loss should be ‘pure,’ in the sense that it results from an event for which there is only the opportunity for cost.
• Huge Loss – Insurance – The size of the loss must be meaningful from the perspective of the insured. Insurance premiums need to cover both the expected cost of losses, plus the cost of issuing and administering the policy, adjusting losses, and supplying the capital needed to rationally assure that the insurer will be able to pay claims.
• Affordable Premium – Insurance – If the probability of an insured event is so high, or the cost of the event is so large, that the resulting premium is large relative to the amount of protection offered, it is not likely that anyone will buy insurance, even if on offer.
• A large number of identical coverage units – Insurance – The vast majority of insurance policies are provided for individual members of very large classes. The existence of a large number of identical coverage units allows insurers to benefit from the so-called “law of large numbers,” which in effect states that as the number of coverage units increases, the actual results are increasingly likely to become close to expected results.
• Measurable Loss – Insurance – There are two elements that must be at least estimatable, if not formally calculable: the probability of loss, and the attendant cost. Probability of loss is generally an empirical exercise, while cost has more to do with the ability of a reasonable person in possession of a copy of the insurance policy and a proof of loss associated with a claim presented under that policy to make a reasonably definite and objective evaluation of the amount of the loss recoverable as a result of the claim.
• Limited risk of terribly large losses – Insurance – If the same event can cause losses to numerous policyholders of the same insurer, the ability of that insurer to issue policies becomes constrained, not by factors surrounding the individual characteristics of a given policyholder, but by the factors surrounding the sum of all policyholders so exposed.

Source by Prerna Joneja

Comprehensive vs Medical: What Travel Insurance Plan is Best?

Do you need comprehensive or medical travel insurance?  Compare travel insurance plans and find what’s right for you.
If you’re gearing up for some well-deserved travel, you might be shopping for trip insurance. Comparing insurance is definitely not the most exciting thing you’ll do to get ready for your trip, so here’s a handy guide to help you get through it quickly and easily.

Compare trip insurance…”what travel insurance plan is best?”
Should you buy travel medical insurance or a comprehensive plan?  Turns out there are a lot of options.  Some plans cover a bit of everything, while medical can cover more specific medical issues.  A travel insurance comparison site can list the options to choose from, but in the end only you know what’s right for you.
Here are the pros and cons of each, so you can get the plan that’s right for you.

The Pros & Cons of Buying Comprehensive Trip Insurance
Like the name implies, comprehensive trip insurance covers a wide smattering of events.  That includes medical and non-medical issues such as baggage loss and unforeseen medical expenses as well as trip cancellation and sometimes things like loss of your passport.

Pros.
•covers trip cancellation
•covers trip interruption
•covers medical expense
•can cover evacuation
•can include Cancel for Any Reason
•some packages can serve as your primary health coverage while traveling

Cons.
For travelers who only want medical coverage, comprehensive insurance will feel like overkill.  This would include anyone traveling on a short, domestic flight with no baggage and during summer when flights are less likely to be delayed or canceled due to bad weather.

The Pros & Cons of Buying Medical Trip Insurance
If you want to forgo the comprehensive plan and just buy travel medical insurance, here’s the scoop.  Before you do anything, find out whether you’re already covered with your existing medical insurer.  Some plans do and others don’t of course, but Medicare never covers you overseas.

But even if you already have coverage through your existing plan, it might be a good idea to consider buying a travel medical policy for your trip.  Supplemental insurance can pick up where your regular insurance leaves off.

Pros
•if you’re on Medicaid, it offers a way to get coverage while traveling
•many pre-existing conditions are covered
•for frequent travelers, multi trip policies can save you money

Cons
•travel medical insurance is more costly after you reach the age of 50
•if you’re over 70, it can be very expensive
•if you travel to an at-risk country for which the US State Department has issued a warning, you may not be covered unless you buy supplemental coverage
•may not cover you if you participate in an activity which your insurer feels is dangerous or unwise
•if you want to participate in extreme sports, you’ll have to purchase an adventure-sports upgrade
As you can see, comprehensive trip insurance functions as a wide blanket, covering much of what can go wrong on any given trip.  Medical coverage, on the other hand, is more for travelers who don’t have any health coverage abroad but who don’t feel the need for other types of trip insurance.

Source by AardvarkCompare.com

Can some one take out a life insurance policy on you without notifying you?
Is an insurance company legally required to notify the person who’s life is being insured? If not is there any way to see if a policy has been taken out in your name? No. You determine your own benificiary. Some states have laws that…

Can someone 80 years old obtain life insurance coverage?
My mother just turned 80 years old. She has slowed down alot these past years, but overall is very healthy for her age. She came to live with me a few years ago. I recently just found out she cashed in her two best policies to pay for my…

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Can time insurance benefits be seized to pay envelope debts?
I know they’re not taxed. But if my husband have debts that are in his christen only that be incurred before we be married, or even while we’ve been married, can those companies collect transfer of funds from the benefits I would receive from his life insurance?…

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I am unhappy near both the performance and service on a unharmed life insurance policy that I’ve have for about 11 years. Do I hold any options? I’d never grasp the same rates immediately. I was told when sold the policy that dividends could pay envelope…

can you win go insurance lacking a social shelter number?
Yes, but not in the US. Can you achieve anything without money? yes u can I’m other asked for my social security number to go and get life insurance… so I really doubt it unless there’s a special loop-hole somewhere. Most states are ratification laws that require…

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Anyone buy into this life insurance plan? Im wondering if its a peer of the realm company. I checked with BBB of Vancouver, no complaints but Im wondering if it meet the mark compared to regular go insurance plans you’d get at an bureau in your town or city? Any agents…

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More life insurance questions please visit : InsuranceFreeFAQ.com

Source by insurancefaq

Cigna health insurance basically falls under the category of managed care system. It applies multiple techniques and services, particularly in the health sector to finance care, provide quality and accessible health benefits through a structured distribution of care and cost-effective medication.  

Its services are concentrated mainly into two health plan categories: individual and group, where the latter is specified as employee benefit program. Cigna health insurance offered the two most comprehensive managed care services in individual health plans, namely the Cigna Healthcare Health Maintenance Organization (HMO) and Network Open Access plans.

HMO is designed to provide wide access to a network of physicians without the hassle of filling- out referral forms. Hence, in case of emergency anyone that is enrolled in this program can be accommodated by affiliate doctors and clinics.
In group health plans there are several healthcare plans employers can offer to their employees. Among them are the FlexCare Exclusive Provider Program (EPP), Freedom of Choice Indemnity plans, Point-of-Service Plans, and HMO program as well.

Aside from the healthcare coverage, health savings account is another option that guarantees care and wellness programs especially for mothers and babies and individuals with chronic illnesses. Part also of this additional option are the online assistance of nurses for basic health inquiries.

Health savings account works by postponing medical tax deduction and accumulating it to cover health care expenses. However, not all US States got an existing law on pre-tax treatment. In that case, consulting a tax advisor can give significant aid.

Source by Allen Jesson

Florida is ‘tort state’, which means that it makes sure that the person who has been wronged in any way gets compensated adequately. It therefore makes it legally compulsory for automobile owners to have the means to pay up should he be involved in an accident where someone is injured or there is damage to the other party’s car or property.

As such, the Florida auto insurance regulators have laid down rules pertaining to minimum liability coverage which an automobile owner has to adhere to. This rule is applicable to anybody who has been the owner of a car in Florida for more than 90 days in the last one year, resides in Florida, is employed in there or has children in school in Florida. The law mandates that the car owner has to have a Property damage cover of at least $10,000. Apart from this he has to have a personal injury protection cover of no less than $10,000. All other covers are optional. However it would be wise to have medical payment, collision and comprehensive cover added to the policy.

Even if the vehicle has moved from some other state and has been insured in that state, the same rule will follow. The policy holder will have to hire a Florida agent to transfer the insurance from other state to Florida when the vehicle is registered in Florida. Failure to do so may lead to the persons driving privilege being suspended by the Department of Highway Safety and Motor Vehicles. The department can also suspend vehicle’s tag and registration till proof of registration in Florida is submitted. The ordeal does not end here. The defaulter may have to pay a license reinstatement fee between $150 and $500 along with the proof.

In Florida, the driver’s age, his marital status and his past driving record can influence the amount that he has to shell as premium. For instance, a flawless driving record devoid of any tickets can knock off some precious dollars from the insurance premium. If the driver’s age is above 50, again this goes in his favor of being a safe driver and hence his premium amount comes down.

Florida auto insurance also gives the car owner the option of lowering his premium amount by increasing his deductible and keeping it in the range of $500 to $1,000. But remember that this puts the risk of safe driving on the car owners’ shoulders.
Auto insurance companies in Florida recommend that if your car’s book value is less than $3,000 it would be wise to drop collision and comprehensive coverage altogether as it is an expensive part of your car insurance. But again there is the risk of you losing everything or having to pay for the damages completely out of your pocket if the car is stolen or gets damaged in an accident. One has to weigh the pros and cons of this coverage on a cheap car. In an expensive car collision and comprehensive coverage is absolutely essential.

Car insurance discounts vary from one state to another. Remember to ask about any available Florida car insurance discounts.

Source by Jill Quinn

Insurance in simple word is protection over the loss which can happen in coming future. In the present times the world is full of uncertainty. Everyone needs protection over achievements in the form his finance and assets. The entire world has known the importance of insurance in our day today life. The assets which were acquired in our life time should be protected as the uncertainty can occur at any moment in anyone’s life. in San Diego all the types of commercial insurance is being done which includes all your valuable assets which has been earned with lots of efforts for an example Auto insurance, home insurance, business insurance, medical insurance, health insurance etc.

In the present world we deal with lots of risks from our lives to our assets and even in our jobs. Peace of mind is required to be stable which is provided by the insurance. Commercial Insurance will help you to bring that stability in your life. Condo insurance is being is introduced in California. In simple terms condo means a particular part of portion is in need of insurance according to need of hour or as the insurer needs. Condo insurance brings the options for availing the service for the same of being used in partial insurance.

The need of all people at present is Security of himself and his belongings. The package which provides condo insurance California at affordable price for all the service users which is best in the market in the present. Sometimes the nature shows some violence due to this we lose some of our precious assets which we have fought hard to earn. The most violence act which tends to make most of the loses is earthquake. Earthquake insurance has come with such kind of insurance which will help to protect your valuable assets against earthquake.

Earthquake is very natural thing which cannot be predicted. To protect against earthquake California earthquake insurance has come up with such type of insurance. Earth quake can destroy a person in seconds both physically and financially. We as a person cannot fight with such kind of natural disasters but we can reduce the loss for the same. The pricing of any insurance matters a lot for availing the services we as an insurance company have kept the pricing in common man reach.

As there is a quote “something acquired must be protected”. Same goes with insurance also as when we acquire something or which needs to be protected from the miss happenings we should secure it from the day one and for that we are always there to serve you. To get a full line of coverage for all your personal and business insurance needs, contact EIS insurance, an independent agency in San Diego, California. Just give us a call today at 800-882-8080 and speak to our representative now! You can also visit the official website i.e. http://eisinsurance.com/. Their team is always there to help you.

Source by Ron Morgan

While the residential mortgage market continued to pace a modest economic recovery in the U.S. in 2004, homeowners found themselves paying more for homeowner’s insurance — if they were able to find it.

Homeowner’s insurance protects homeowners from damages to their home that are sustained from bad weather, tornados, fire and similar casualty losses. (Flood insurance is sold as a separate policy.) It also protects them from potential liabilities that occur on their property — a neighbor’s child who falls on the driveway, for instance.

Mortgage lenders require borrowers to obtain a homeowner’s insurance policy as a means of protecting the collateral of their loans. Since state commissions regulate the insurance industry, availability and affordability of homeowner’s insurance varies among states. The National Association of Insurance Commissioners (NAIC) maintains a directory of state offices at its Web site.

The Wall Street Journal reported in May 2002 that 23 state insurance commissions had granted Allstate Corp. permission to hike homeowners’ premiums an average of nearly 20%.

In Texas, premiums have doubled in some areas while the number of homeowners whose policies were not renewed has soared. Meanwhile, State Farm Mutual Automobile Insurance stopped underwriting new policies for homeowners in Texas, California and Louisiana, the Journal said.

What are some of the reasons for these premium hikes and the drying up of policy coverage?

Major sources of blame are a rash of weather-related catastrophes, higher home-repair costs and the emergence of mold claims, says Robert Hartwig, chief economist for the Insurance Information Institute.

While mold claims have been around for a long time, Hartwig blames an explosion in claims and related lawsuits for directly impacting the availability of homeowner’s insurance in Texas. He says mold-related claims in Texas increased nearly sevenfold in the second quarter of 2001 over the first quarter of 2000. Over the same period, insurer payouts increased more than eightfold.

In addition, home-repair costs are increasing at 7% a year — well above the average rate of inflation, Hartwig says. Together, these factors are contributing to an average annual increase of 9% hike in premiums for homeowner’s insurance for 2002, the Institute estimates.

Homeowners in California are facing their biggest crunch in paying for homeowner’s insurance since the Northridge earthquake of 1994. According to a survey by the Insurance Information Network of California, insurers in that state paid $430.5 million in water-and mold-damage claims in 2001, more than double the amount paid in 1997, the Los Angeles Times reported in January 2003.

In addition to State Farm’s dropping new policies for California homeowners, the state insurance commission recently approved Allstate’s request for an 18.5% hike in homeowners’ premiums.

Sure, homeowner’s insurance is harder to come by and more expensive, but if you apply some of the basics in this educator you shouldn’t have too many problems.

For more articles on Home Insurance, visit http://www.bills.com/home-insurance/

Source by justin narin

Texas law requires all drivers to carry at least liability coverage. However there are many other types of auto insurance. Texas insurance companies generally provide these major types of coverages for you to choose from.

Medical Payments Coverage

This type of insurance pays medical and funeral bills arising from accidents, including those in which the victim was a pedestrian or a bicyclist. It covers you, your family members and all passengers in your car regardless of who caused the accident. Because many drivers still do not have insurance, it is a good idea to add this coverage to your auto insurance. Texas law requires all drivers to carry insurance, but it is not something you want to count on if you or someone you love gets hurt.

Personal Injury Protection (PIP) Coverage

This type of insurance is the same as medical payments, but offers the additional coverage of 80% of lost income and the cost of hiring a caregiver for an injured person. It is a valuable addition to your auto insurance. Texas law, in fact, requires insurance companies to offer $2,500 in PIP to you, and that you reject it in writing if you choose not to add it to your policy.

Uninsured/Underinsured Motorist (UM/UIM) Coverage

This type of coverage explictly covers expenses from an accident caused by an uninsured driver, or if the driver did not have enough insurance to cover your bills. This type of coverage also pays for damages arising from a hit and run accident if you promptly report it to the police. Auto insurance in Texas is mandatory, but this type of coverage is a good idea to protect yourself against those who do not follow the law.

There are two types of UM/UIM coverage: bodily injury and property damage. Bodily injury coverage pays for medical bills, lost wages, pain and suffering, disfigurement, and permanent or partial disability. Property damage coverage pays for auto repairs, rental car fees, as well as damage to items in your car. Insurance companies must offer UM/UIM in addition to your auto insurance. Texas law requires that you reject, in writing, if you choose to waive this protection.

Collision (Damage to Your Car) Coverage

This type of coverage pays the cost of repairing or replacing your car after an accident, regardless of who was driving or who was at fault. Payment is limited to your auto’s actual cash value, minus your deductible. Actual cash value is the market value of a car like yours before it was damaged.

Comprehensive (Physical Damage Other than Collision) Coverage

This type of coverage pays the cost of replacing or repairing your car if it is stolen or damaged by fire, vandalism, hail, or another cause other than collision. Comprehensive coverage also pays for a rental car or other temporary transportation if your car is stolen. Your policy won’t pay for an auto theft unless you report it to the police. Payment is limited to your car’s actual cash value, minus your deductible.

Towing and Labor Coverage

This pays the towing charges when your car cannot be driven, as well as labor charges, such as the cost of changing a tire, at the place where your car broke down.

Rental Reimbursement Coverage

This type of coverage pays a set daily amount for a rental car if your car is stolen or is being repaired because of damage covered by your policy.

Clearly auto insurance in Texas can be much more extensive than a simple liability policy, and provide much greater protection and peace of mind.

Source by George M. White

If you are a first-time driver, locating reasonable auto insurance can be one of the major challenges after the initial purchase of your car. There is no shortage of car insurance companies standing ready to offer you competitive rates as well as different kinds of insurance policies. There are two types that are most readily used by motorists: liability and full coverage. These two types of coverage represent the bottom line. Any other particulars of certain policies are built off of these. What are some of the differences? Is one better than the other?

Each state has its own guidelines and specific provisions that govern the use of car insurance. The regulations declare what minimum amount coverage is required by law. If you want to drive legal in most of the states, you will need liability insurance coverage. Liability insurance coverage provides the motorist protection against damage and injuries which were caused by you, including property damage.

This type of coverage is described in terms of numbers. Each of these numbers represents the components of the liability coverage. They are written like so: 20/60/10. The first number is the maximum amount your insurance company will pay to cover bodily injuries sustained by a single person, per accident. The second is the maximum amount that your insurance provider will pay for every injury caused by a single accident. The third number is the total amount that will be paid to cover property damage.

With full coverage you have far more provisions available to you. Yet there is a misconception that if you have “full” coverage, that all circumstances will be covered. This is not true. Full coverage includes two additional areas or components of insurance coverage besides liability called collision and comprehensive. Full coverage has a degree of flexibility about it. You do not necessary need both of these additional components. For example, comprehensive can be added by itself. In order to have to collision coverage you must have comprehensive.

With comprehensive coverage you have protection against other forms of damage such as those that come from natural disasters, fire, vandalism, and theft. For those who add collision coverage, they do so because they want protection in auto collisions.

There are clear differences between liability and full coverage. What type you decide to purchase depends on different factors like whether your car or truck is new, used, or under financing. It may also be a matter of how much coverage you want to buy. The costs will be higher if you opt for fuller coverage rather straight liability. If there are other features or special areas of coverage provided by the individual auto insurance provider, you may decided to pay for some parts but not others.

It is important to understand what type of coverage you need as well have a working knowledge of other types of coverage available and what each one offers you, the motorist.

Source by Joseph Kenny

Did you know that the best place to get cheap health insurance quotes is online? All you have to do is go to an insurance comparison website and you can get fast, accurate quotes from multiple insurance companies. It’s quick, it’s easy, and it’s free.

What Kind of Health Insurance Quotes Can I find Online?

Insurance comparison websites offer the same kinds of health insurance plans you would get from any insurance agent. Depending on your needs and budget, you can select:

* Traditional insurance, a PPO plan, or an HMO plan

* Long-term or short-term health insurance

* Comprehensive or basic coverage

* A plan with a company that specializes in a particular illness

* A stand-alone plan or a plan that supplements other existing insurance

You can also choose plans with varying deductible and co-payment amounts.

Advantages of Online Health Insurance Quotes

Going online for your health insurance quotes offers you several advantages:

* It saves you time. Instead of calling or running around and visiting multiple insurance companies to get health insurance quotes, you fill out one simple form on an insurance comparison website and the quotes come to you.

* It saves you money. Health insurance premiums can vary by hundreds of dollars from one company to another. When you shop online through an insurance comparison website, you can easily and quickly compare quotes from multiple companies and choose the one with the best price.

* It saves you worry. Insurance comparison websites have already checked out the insurance companies they offer, and they only work with A-rated companies. This means you know the company you select is financially stable and will be able to pay your claims.

Visit http://www.LowerRateQuotes.com/health-insurance.html or click on the following link to get a cheap health insurance quote online from top-rated companies and see how much you can save. You can get more insurance tips in their Articles section, and get answers to your questions from an insurance expert by using their online chat service.

Source by ryan@thesatellitetvguide.com

Fire, burglary, tornadoes, broken pipes, trees falling on your roof – bad things can happen to your home. And when bad things happen, you want the security of knowing you have homeowners insurance to protect you and your family from financial loss. You also want to know you’re getting the best rate possible on your Tennessee homeowners insurance.

How Homeowners Insurance Protects You

When you buy a home, you’re making a major investment, and you need to protect that investment. You can do that by buying homeowners insurance. Homeowners insurance offers several types of protection:

* It replaces your home and your personal property when disaster occurs.

* It protects you from liability lawsuits if someone is injured on your property.

Tennessee homeowners insurance protects you against all common, major disasters that can befall your home. However, it does not protect you against damage from flooding or earthquakes. You need to purchase additional insurance to cover yourself against these disasters.

Evaluate Your Insurance Needs

Before you buy homeowners insurance, you need to figure out how much insurance you need. First of all, you need to find out how much it would cost to rebuild your home. A contractor, real estate agent, or appraiser can help you figure this out.

Second, you need to figure out how much it would cost to replace your personal possessions. The only way to estimate this amount is to conduct a complete home inventory of your possessions. An inventory will also be useful if you ever need to make a claim.

Finally, you need to decide how much liability coverage to buy. Most policies offer $300,000 in liability coverage. However, if you have a high-paying job or a lot of assets, you may want to increase that amount.

Find the Best Rate on Tennessee Homeowners Insurance

Once you know how much insurance you need, go to an insurance comparison website and fill out their online form with your insurance information. You’ll soon have quotes from several A-rated insurance companies. Then all you have to do is choose the company with the best rate. It couldn’t be easier.

The best insurance comparison sites feature an online chat service so you can get answers to any questions you may have. These sites only deal with A-rated companies, so you know you’ll be getting your insurance through a reliable carrier. (See link below.)

Visit http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to get Tennessee homeowners insurance quotes from top-rated companies and see how much you can save. You can also get more insurance tips there.

Source by ryan@thesatellitetvguide.com

Potholes are a common nuisance to all drivers and the effects they can have on the suspension, body work and general running of a car is costing drivers a considerable amount of money in car insurance claims.

There are around 1.5 million potholes in the UK at the moment and the adverse weather conditions have not made things any easier. The rain and snow that we have all had throughout the country has meant the potholes have become harder to see and many people are falling victim.

Last February, there were 700 claims that were related to potholes. However, this number has almost tripled to 2000 claims and insurance companies are urging all drivers to take extra care on the roads whilst the weather is bad and accidents are more common.

Insurance claims can be costly, not to mention losing your no-claims bonus on your policy. Saving money is a common theme over the past 18 months and ensuring you have the best car insurance policy is vital. With a range of options available to us, we should ensure we explore all possibilities to find the best deals.

Switching providers can save you hundreds of pounds. Research that has been conducted shows that 85% of people would switch for a £75 saving although 19% of drivers will renew their insurance policy without even looking around and this is foolish as there are huge savings to be made.

Just remember that even though your policy may have been a fantastic deal a year ago, it may be just an average deal now as each insurer tries to outdo the other to make their deals the best. Brand loyalty is not as common as it used to be as customers look to save money, don’t be the only one to miss out on important savings.

The ability to <a onclick=”javascript:ga(‘send’, ‘pageview’, ‘/outgoing/article_exit_link/843365’);” href=”http://www.moneysupermarket.com/motor/”> compare car insurance </a> means finding the best deals is easy. Consider your options when choosing your <a onclick=”javascript:ga(‘send’, ‘pageview’, ‘/outgoing/article_exit_link/843365’);” href=”http://www.moneysupermarket.com/motor/”>car insurance </a> and as prices continue to rise anything we can do to minimise <a onclick=”javascript:ga(‘send’, ‘pageview’, ‘/outgoing/article_exit_link/843365’);” href=”http://www.moneysupermarket.com/insurance/”>insurance </a> costs should be taken advantage of.

   

Source by Karl Bantleman

Everyone knows that having a good driving record helps keep your car insurance rates down but an accident is exactly what’s it’s called, an accident. No one plans on getting into one and for the most part drivers avoid them at any cost but that won’t stop it from happening to you. There are new things out that you can add to your car insurance to protect your low rates today, it’s called accident forgiveness and it’s now available in most states. Some companies like Allstate Insurance also offer ticket forgiveness and other new options like deductible rewards along with a new Safe Driver Bonus.

The truth is, some insurance companies recognize that having one accident does not make you a bad driver, and raising your rates to double their costs might cause them to lose you as a client. Now these new options don’t come free but the costs are very small in comparison to what you’ll pay over three years, this is what all insurance companies will charge you for tickets and accidents.

Be aware, you can not add these new features after you’ve had an accident and be forgiven. Once you’ve added the coverage it will apply from that day forward so not unless you’ve got a crystal ball think about it before it’s too late.

When all is said and done these are the smartest, most innovative moves the insurance giants have made…keep the customers happy is good business through and through!  Throughout the years consumers have had no other choice but to take the higher costs and where told this was their only option. See if your insurance company offers accident forgiveness along with other perks, way the odds and make a decision today.

Source by Loreen Worden

Choice is always good. In a globalized world, the consumer has a plethora of choices in everything, from airlines to automobiles. This is why nowadays even airlines make an announcement after the passengers land: “We know you have a choice. Thanks for flying with us!”

It’s rather simple. You have a choice – if you don’t like the product or service, switch! The same goes for health insurance policies as well. In India, people have woken up to the promise of health insurance, which has led to a proliferation of health insurance providers across the board. Because of this wide variety available, the policyholder doesn’t need to stick to an insurance provider if they feel dissatisfied with the services.

The Insurance Regulatory and Development Authority of India (IRDA) has a novel scheme for disgruntled policyholders to switch providers: health insurance portability. Now, what do we mean by this? Let’s elaborate.

What is health insurance portability?

Health insurance portability is the manner through which a health insurance policyholder can transfer his/her existing policies from the current provider to a new one. Portability offers a way for customers to opt for better service and product. That way, an insurance provider cannot take them for granted.

Reasons for porting

When and why should you port a health insurance policy to a different provider? Here are some pointers to help you decide:

• Quality of Service If you feel that the standards of service offered by a policyholder is not at par with what they promised while logging you in, may be it’s time to move on. Often, an insurance provider will promise the moon while getting a customer on board in the eagerness of cracking a deal, but gradually, reality strikes and the customer realizes that it was all hogwash. There’s no point continuing a bitter relationship, right?
• Increased Benefits There might be a point when you realize the cover offered to you by your current health insurance provider is not sufficient, and after talking to them it seems clear that that’s the best they can do. Under the circumstances, it may be wise to switch to a provider that can offer the additional cover/ benefits.
• Expensive There is really no point in paying more for a service/ benefit that is available for a much lesser price with a competing provider. If you feel the competition offers a better product at lesser cost, it is time to make that switch.
• Specialization Health insurance policies are offered by general insurance companies as well specialized health insurance providers. If it is felt that with the current provider, the attention is more on non-health policies, switching to a specialized health insurance company may suit your needs better.
• Relocation When you relocate to a new city, you need to have the same services and cover as before. But your existing insurance provider may not have as better access or as many network hospitals in the city. It might then make sense to port to a provider who has those services in your city.
• Claim Settlement This is important. Some companies take ages to clear a claim. Before you land up in such a situation, it’s important to know whether your insurance provider has any such reputation. If that is the case, port out.
• Transparency Often there are hidden clauses and conditions in the contract which the policyholder is not aware of. Such hidden clauses rear their ugly head during emergencies, and you do not know where to go. Time to move to a provider with more transparency in their dealings.

Now that we have a fair idea when to opt for portability, it is also important to know the benefits. What does a policyholder gain out of it? Well, here it goes:

Benefits of portability

Customization While porting to a new provider, it becomes easier to customize the features to one’s specific needs and requirements. You can add nominees, even go for additional cover or benefits.

Continuity Benefits When you change your health insurance company, there is no reason to lose the benefits you had accrued with your previous provider. According to IRDA, your new insurer has to give you the benefits accumulated with previous insurer.

New Sum Insured IRDA says your new insurer has to insure you at least up to the sum insured under the old policy. In most cases, the existing sum insured is added to the accrued bonus to give the new sum assured. The No Claim Bonus is also added to the new sum insured.

Better service, affordable premiums, transparency Portability takes care of the inconveniences associated with your earlier health insurer, owing to which you made the switch in the first place.

Yes, portability is a major advantage to those health insurance policyholders who are unhappy with their current insurance provider. But it’s also important to know the conditions and criteria for portability to occur.

Conditions for portability

1. The policy can be ported only at the juncture of renewal. The new insurance period will be with the new company
2. Apart from waiting period credit, all the other terms of the new policy will be at the discretion of the new insurance company
3. The process has to be initiated by the policyholder at least 45 days before renewal:

• Write to your existing provider requesting a shift
• Specify the new insurer you want to shift your policy to
• Ensure that the policy is renewed without a break (there is a 30-day grace period if porting is under process)

In short, if you are disappointed with your health insurance policy, portability is a good option that offers a recourse – if the above conditions are met. Now, let’s get into the most important part. How to port?

Porting Process:

• Application for portability should be made at least 45 days before the renewal date of the existing policy, on the portability form
• The company will then send your portability form and all the policy related documents
• The new insurer will take a decision on accepting the policy within 15 days

Other documents include all previous policies, claim experience, proof of age and others. If any other documents are required, the new insurance company may ask for it.

…One more thing!

These are some small pointers that go a long way in ensuring that the transition is smooth and a happy one:

1. Read all the terms and conditions, product features, brochures of the new company before deciding
2. Do know that the new company can decide to hike the premium, at its discretion
3. Check the claim settlement ratio
4. Needless to say, check for good customer support and service

Source by Bigdecisions

Did you a moment ago recently lose your job and are currently looking for dui auto insurance online to save Cash? Things have probably gotten worse in your family because at the moment there’s not an adequate amount of money coming in and you are struggling to make ends meet. At this point you probably want to find an auto insurance specialist inc to save you money.

One of the generally everyday ways you thought you may perhaps save money is by reducing your car insurance premium. You are probably sick and exhausted of paying so much money each month on your car insurance plan just to keep up the bare minimum coverage necessary by your state. And you need an automobile insurance specialist to save you money now and fast.

Even after chatting with your car insurance company and showed them you have a first-rate driving record you are still paying an arm and a leg just to keep your car insurance.

I am sure you can imagine wanting to be able to save several hundred dollars a year solely on your car insurance. And with every person losing jobs currently I’m sure you like to build your savings bank account just in case. You don’t have to be bothered so much about trying to decrease your auto insurance payments any more since you have options to get auto insurance quotes to save you cash.

There is no need for you to go through the old school approach of calling each and every single number in the Yellow Pages. This can be a very time-consuming process and you don’t want to waste time as you are trying to quickly save money on your car insurance policy.

So the best thing that you can do at this moment is to go to the Right website online so you can save money on your automobile insurance. And this will just take you a couple of minutes. All you need to do afterwards is to decide which auto insurance specialist you think is more reasonable and inexpensive for your situation.

Source by Craig Realton

The marketing of your insurance agency is a time consuming and expensive process and it takes an extraordinary amount of effort to coordinate this function. In order to accomplish and gain recognition in this fast and competitive world we live in, you will find more companies trying to find ways to increase their brand to gain that competitive edge. You know the old saying, “you have to spend money to make money.” So don’t fall by the wayside.

To try and help you determine the best advertising medium for your insurance agency we will help show you the most common types of marketing and give you an explanation of each. Most importantly, before we go into showing you the ways to market and advertise your insurance agency you need to think about what your budget is and start from there. As you know, different mediums of advertising all come with a price.

The Market: What types of vehicles of insurance do you offer? Do you offer health insurance, auto insurance, life insurance, homeowners insurance, etc? What is the age group of your target market and who exactly are you looking to offer insurance? These questions and more you need to determine before opening up your wallet.

Start Building a Game Plan
Once you see the benefits of each advertising medium, stick with what works. Stay within your budget and find the best approach. Finding the best option for you is going to be trial and error, but it will be the difference in building your agency or breaking your agency.

For more information about advertising your insurance agency on InsureMyHouse.com and registering your exclusive zip code(s), Click here.

Source by Daren DiSantis

Looking for Washington homeowners insurance? Want to get the best rate with an A-rated insurance company? Here’s how to do it.

Washington Homeowners Insurance

Homeowners insurance is a must for all Washington home owners. It protects you and your family from unexpected losses and gives you protection in case of a liability lawsuit.

There are three things to consider when choosing homeowners insurance in Washington – coverage, cost, and company.

Coverage

When it comes to coverage you want to make sure you can rebuild your home if it’s destroyed, and replace your personal belongings if they’re damaged.

Mortgage lenders require that you purchase homeowners insurance based on the appraised value or the purchase price of your home. But this is not the amount of coverage you need. You’re better off finding out how much it would cost to rebuild your home from a local builder then insuring it for that amount.

When it comes to insuring your personal property, insurers use one of two methods: 1. Actual cash value pays you the value of an item minus depreciation for the years you owned it. 2. Replacement cost pays the full value of your property. Replacement cost is more expensive, but worth it in the long run.

Cost

Get quotes from several companies. There are websites where you can get quotes from a number of different insurance companies so you can compare rates. Some of theses sites even provide a chat service so you can talk with an insurance professional and get answers to your questions. (See link below.)

Raise your deductible. You can save money on your premiums by increasing your insurance deductibles, but you’ll have to pay more if you have a claim.

Ask your agent about discounts. Most companies offer discounts for having both your auto and homeowners insurance with them, for having security and safety features installed, for having a good claims history, and for a variety of other reasons.

Company

In addition to getting the best insurance rate you can, you also want to make sure you’re getting a reliable company.

Check with your state’s department of insurance website to make sure that the company you’re considering has a good reputation and will pay your claims. Then check A.M. Best’s website (ambest.com) to see their financial rating.

Visit http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to get Washington homeowners insurance quotes from top homeowners insurance companies and see how much you can save. You can get more insurance tips in their Articles section.

Source by ryan@thesatellitetvguide.com

Like any other market in today’s rapidly-changing world, the term life insurance market is on the move. Learn about what kinds of new and innovative products life insurance companies are offering today.

Like other industries, the term life insurance industry is constantly finding new ways to meet consumers’  needs. While there are still the basic sorts of term life insurance offerings out there on the market, many life insurance companies are becoming more and more innovative as they struggle to create exactly what customers want to see.

This has led to a number of new and interesting trends in the life insurance marketplace, many of which may appeal to you. From new options for payouts to things like combined insurance, life insurance companies have plenty of interesting choices for you to consider.

Take, for example, payout options. As you know, one of the sources of revenue for a life insurance company is the interest that they make on accumulated funds. The longer the life insurance company holds onto its premiums, the more money it makes. If the life insurance company can hold onto a portion of those funds for a longer period of time, it will not only increase the company’s profits but it may be able to increase your policy’s benefits.

Instead of paying out your life insurance policy as a single lump sum, for example, it may offer death benefits as an annuity. This annuity will pay out the death benefit over time. In the long run, your beneficiaries will receive a larger payment than if they were to take it all at once.

Of course, traditional one-time lump sum payments are still an option. Many customers still want their policy to pay the full benefit on their death. They don’t see their life insurance policy as an investment for their beneficiaries, but rather as a safety net should anything happen to them.

Another rising trend in the term life insurance industry is that more and more companies are finding ways to offer products to older customers. As life expectancy increases, the older population becomes more and more of a potential market. It also becomes much more feasible to offer term life insurance products to older customers. While it may not have made much financial sense for a term life insurance company to offer products to someone over the age of 60 just a few decades ago, today it is much more likely that the individual will live into their 80s and beyond.

Many term life insurance companies are now bundling their products with other insurance products, too. For example, some companies offer private medical insurance, long-term care insurance as well as term life insurance. By combining products in this way, the company can create a synergy that increases their bottom line but also the customer’s security and well-being.

Source by Seo Majesty