In the current economic climate, people who may never have considered bankruptcy as an option may find it a difficult, but necessary next step.
It's no longer something that happens when you've "failed" or simply overspent. A recent New York Times article reports bankruptcy filings increased 34% from October 2007 to October 2008. Families considered solidly middle-class are now seeking Chapter 13 bankruptcy protection to ensure they do not lose their homes and other assets when financial woes impact the household.
What is Chapter 13 bankruptcy?
Chapter 13 allows consumers to arrange repayment plans that will protect their assets in a way that Chapter 7 bankruptcy does not. Also known as Individual Debt Adjustment, Chapter 13 lets an individual with regular income keep property and pay debts back, usually over three to five years. During this time the individual is protected from creditors, who can't start or continue collection efforts on past due bills. In contrast, consumers generally lose most assets with a Chapter 7 bankruptcy, other than those considered exempt—a definition which varies from state-to-state, and is often based upon income.
For consumers who wish to protect the equity in their homes or cars with a loan or lease balance, Chapter 13 bankruptcy is a good option. But, it comes with a cost, as creditors and insurance companies may not offer their most favorable rates in the future.
Will my car insurance rates go up if I file for bankruptcy protection?
The short answer is—it's likely, but how much depends on your credit rating before the bankruptcy. If you have insurance and continue making your payments, you're less likely to see a rate increase at renewal, but some companies will check your credit once a year. A lower credit rating may lead to a rate increase.
Any type of bankruptcy filing will hurt your credit rating and will remain on your record for up to 10 years. During that time, car insurance companies that use credit as part of their risk assessment may increase your rate or may decline to offer you the lowest rates available. If you're shopping for a new policy post-bankruptcy, you may find that some companies will not offer you a quote, if bankruptcy is used as a risk factor.
Is this fair? Well, using credit history as one factor in insurance pricing is a lot like looking at an individual's driving history: a large number of accidents or violations means that driver may not be responsible and presents a greater risk to the company. A bankruptcy is a bit like a financial accident or violation. It strongly indicates, in much the same way as a traffic violation, that the individual had some difficulty with their finances—and some insurance companies have determined that insurance risk increases as financial stability decreases.
Some practical issues
If you're currently paying for your auto insurance using a credit card or checking account that may be restricted or closed by a bankruptcy filing, you may need to call your insurance company to change your method of payment. Remember, if you change from automatic withdrawal to direct billing, there may be additional installment or service fees, and you may risk late payment fees in some states, if a payment is late. But, the important thing is to keep your policy active, as a lapse in coverage could result in even higher rates when you re-start your coverage.
Our position
There is a significant difference between the two kinds of bankruptcy. We believe that insurance companies can and should evaluate their risk criteria based on insurance risk scores and determine ways to help consumers retain their insurance coverage. But, we hope that companies will evaluate Chapter 13 bankruptcy filings more favorably than other types of bankruptcies—and not penalize consumers who take the important step of choosing to repay their debts.
If you've been in good standing with your company in the past, making payments on time, your company should have no reason to believe that your current financial situation will impact your ability to continue to pay your premium. It's very important to communicate with your company. Ultimately, they are going to be looking at your situation as a whole—not just your financial risk, but your driving record.
All being well, and if your claims and driving history is still good, your auto insurance company shouldn't have any reason to cancel your policy. Your financial situation is only part of your risk factor, after all.
DYNAMIC LIFE AND AUTO INSURANCE : Whole Life Insurance is Still a Preferred Choice
For a long time in America, whole life insurance was what most people bought. Lately, insurance companies have been offering other insurance at lower rates, but in most cases, whole life insurance is still the most beneficial of all plans.
Good For Life Policy
While term life insurance is for a specified period, whole life insurance is designed for life time coverage. This makes it ideal for someone with a steady income who wants to plan for the future.
Whole Life Insurance Premiums and Death Benefits
Whole life insurance rates have the steady quality that drives long-term policy holders to this option. While term life insurance premiums generally go up each time the holder renews the policy, whole life insurance rates usually stay the same until time of death or cancellation of the policy. Some policies do have increasing rates, but the increases are defined in the contract when the policy is purchased. So there?s no reevaluation and no surprises.
The benefits paid at the time of death stay the same with whole life insurance, so the holders can rest assured that their families are taken care of.
Cash Value Turns Whole Life Insurance Into an Investment
A term policy begins and ends (with the policy holder loosing all the money he or she paid into it). A whole life insurance policy builds cash value. How? A portion of the premium is put towards investment in the company, so the policy holder also becomes a share holder. Over time, this builds into an amount of money that can be used. That amount is called the ?cash value?.
The policy holder can cancel the whole life insurance policy and take the cash or re-invest it in a new policy to better suit his or her needs. Or the holder can take the cash value, and stop payments, but still retain a portion of the death benefits (this is called "Paid Up Insurance").
Loan Values
As the cash value of a whole life insurance policy grows, policy holders can borrow money using the cash value as collateral. This allows whole life insurance policy holders to keep the insurance policy, but still use the money. If the debt is unpaid when the policy holder passes away, the benefits paid might be smaller.
Flexible Payment Methods for Whole Life Insurance
Single Premium: This whole life insurance quote is usually the most beneficial. It involves one single payment, and produces an instant cash value. The death benefits are defined and never change. It’s ideal for anyone who has a portion of money they want to put away for their family.
Limited Payments: This is when the premiums are only paid for a specified number of years. The amount for the premiums is specified in the whole life insurance quote and never changes. The cash value of the whole life insurance policy rises steadily.
Modified Premiums: The premium amounts increase over time, and then level after a specified number of years. All of the specifics are clearly defined in the whole life insurance quotes. The benefits amount stays the same, so it allows someone to purchase a larger policy than they can afford at that time.
Continuous Premiums: Continuous premiums never change and are due for the life of the policy holder. The cash value rises steadily. This is the most popular whole life insurance policy.
Other Whole Life Insurance Options
Whole life insurance companies often offer other options like a term riders, where holders can add temporary policies for short terms. Whole life insurance policies also sometimes offer child and spousal riders, so holders can add someone to the same policy.
Choosing the right insurance policy isn't always the simplest decision. Ask for the advice of an insurance agent who has the benefit of experience and can help you find decide if whole life insurance is right for you.
Good For Life Policy
While term life insurance is for a specified period, whole life insurance is designed for life time coverage. This makes it ideal for someone with a steady income who wants to plan for the future.
Whole Life Insurance Premiums and Death Benefits
Whole life insurance rates have the steady quality that drives long-term policy holders to this option. While term life insurance premiums generally go up each time the holder renews the policy, whole life insurance rates usually stay the same until time of death or cancellation of the policy. Some policies do have increasing rates, but the increases are defined in the contract when the policy is purchased. So there?s no reevaluation and no surprises.
The benefits paid at the time of death stay the same with whole life insurance, so the holders can rest assured that their families are taken care of.
Cash Value Turns Whole Life Insurance Into an Investment
A term policy begins and ends (with the policy holder loosing all the money he or she paid into it). A whole life insurance policy builds cash value. How? A portion of the premium is put towards investment in the company, so the policy holder also becomes a share holder. Over time, this builds into an amount of money that can be used. That amount is called the ?cash value?.
The policy holder can cancel the whole life insurance policy and take the cash or re-invest it in a new policy to better suit his or her needs. Or the holder can take the cash value, and stop payments, but still retain a portion of the death benefits (this is called "Paid Up Insurance").
Loan Values
As the cash value of a whole life insurance policy grows, policy holders can borrow money using the cash value as collateral. This allows whole life insurance policy holders to keep the insurance policy, but still use the money. If the debt is unpaid when the policy holder passes away, the benefits paid might be smaller.
Flexible Payment Methods for Whole Life Insurance
Single Premium: This whole life insurance quote is usually the most beneficial. It involves one single payment, and produces an instant cash value. The death benefits are defined and never change. It’s ideal for anyone who has a portion of money they want to put away for their family.
Limited Payments: This is when the premiums are only paid for a specified number of years. The amount for the premiums is specified in the whole life insurance quote and never changes. The cash value of the whole life insurance policy rises steadily.
Modified Premiums: The premium amounts increase over time, and then level after a specified number of years. All of the specifics are clearly defined in the whole life insurance quotes. The benefits amount stays the same, so it allows someone to purchase a larger policy than they can afford at that time.
Continuous Premiums: Continuous premiums never change and are due for the life of the policy holder. The cash value rises steadily. This is the most popular whole life insurance policy.
Other Whole Life Insurance Options
Whole life insurance companies often offer other options like a term riders, where holders can add temporary policies for short terms. Whole life insurance policies also sometimes offer child and spousal riders, so holders can add someone to the same policy.
Choosing the right insurance policy isn't always the simplest decision. Ask for the advice of an insurance agent who has the benefit of experience and can help you find decide if whole life insurance is right for you.
DYNAMIC LIFE AND AUTO INSURANCE : Auto Insurance Terminology
As anyone who has shopped for auto insurance - or filed an auto insurance claim - knows, car insurance agents and companies use terminology all their own. Below is a list of definitions to give you the expertise to close the gap: auto insurance comparisons and dealing with claims doesn't have to feel like negotiating in a foreign language!
Actual cash value: The market value of your car as it stands today.
Anti-theft device: A device that deters thieves or burglars from stealing your car. Some insurance companies offer a discount if you have one in your car.
Assigned risk insurance: In states requiring insurance coverage for its drivers, it's a law that requires insurance companies to accept a certain number of high-risk drivers onto their policies. Such policies can be pricey, but they do exist.
Auto replacement coverage: Supplement that allows for your entire vehicle to be completely repaired or replaced, regardless of cost to the insurance company.
Bodily injury liability coverage: Covers another party's personal injuries if you caused a crash.
Binder: Temporary auto insurance that protects you until your new policy comes into force.
Betterment: Parts damaged in an accident may be replaced with parts in better condition than the car already had; the driver may be asked to pay the difference in cost.
Collision coverage: Pays for damage to, or replacement of your car in the event of an accident; sometimes required by car lenders.
Comprehensive insurance: Covers events not covered by collision insurance, for example, natural disasters, theft, and vandalism.
Deductible: The amount you pay for an incident before your insurance policy kicks in. The higher the deductible, the lower the rate.
Gap car insurance: Covers the difference between what you still owe on your car and its actual cash value as totaled in a wreck.
Good driver plan: An incentive offered by some insurance companies for maintaining a good driving record over a designated time period.
Lien: A claim on property as security for an owed debt.
Liability insurance: Covers losses to people and property damaged by your found negligence; is a required minimum in many states.
Passive restraint system: A safety system, such as an airbag or seatbelts, that works on its own to protect drivers and passengers from bodily injury. Some insurance companies give discounts for their presence in the car.
No-fault auto insurance: In some states, this type of policy replaces liability insurance. It covers damages to your own party or automobile, regardless of who was at fault. It allows for more expedient accident-related health care. In some states (i.e., where it's not the basic requirement) it's referred to as Personal Injury Protection. Sometimes no-fault insurance comes with a limit to claims (as part of a limit on torts claims).
SR-22 auto insurance: Also known as a Certificate of Financial Responsibility or CFR, it's that card you carry in your car verifying that you are covered by the state's minimal insurance requirement. Some states let you know whether or not you have an acceptable amount of automotive insurance.
Total loss: When the cost of repairing a damaged automobile exceeds its actual cash value.
Uninsured motorist coverage: Covers you when the other party in an accident doesn't have liability insurance coverage to pay for damages to your car or body.
Actual cash value: The market value of your car as it stands today.
Anti-theft device: A device that deters thieves or burglars from stealing your car. Some insurance companies offer a discount if you have one in your car.
Assigned risk insurance: In states requiring insurance coverage for its drivers, it's a law that requires insurance companies to accept a certain number of high-risk drivers onto their policies. Such policies can be pricey, but they do exist.
Auto replacement coverage: Supplement that allows for your entire vehicle to be completely repaired or replaced, regardless of cost to the insurance company.
Bodily injury liability coverage: Covers another party's personal injuries if you caused a crash.
Binder: Temporary auto insurance that protects you until your new policy comes into force.
Betterment: Parts damaged in an accident may be replaced with parts in better condition than the car already had; the driver may be asked to pay the difference in cost.
Collision coverage: Pays for damage to, or replacement of your car in the event of an accident; sometimes required by car lenders.
Comprehensive insurance: Covers events not covered by collision insurance, for example, natural disasters, theft, and vandalism.
Deductible: The amount you pay for an incident before your insurance policy kicks in. The higher the deductible, the lower the rate.
Gap car insurance: Covers the difference between what you still owe on your car and its actual cash value as totaled in a wreck.
Good driver plan: An incentive offered by some insurance companies for maintaining a good driving record over a designated time period.
Lien: A claim on property as security for an owed debt.
Liability insurance: Covers losses to people and property damaged by your found negligence; is a required minimum in many states.
Passive restraint system: A safety system, such as an airbag or seatbelts, that works on its own to protect drivers and passengers from bodily injury. Some insurance companies give discounts for their presence in the car.
No-fault auto insurance: In some states, this type of policy replaces liability insurance. It covers damages to your own party or automobile, regardless of who was at fault. It allows for more expedient accident-related health care. In some states (i.e., where it's not the basic requirement) it's referred to as Personal Injury Protection. Sometimes no-fault insurance comes with a limit to claims (as part of a limit on torts claims).
SR-22 auto insurance: Also known as a Certificate of Financial Responsibility or CFR, it's that card you carry in your car verifying that you are covered by the state's minimal insurance requirement. Some states let you know whether or not you have an acceptable amount of automotive insurance.
Total loss: When the cost of repairing a damaged automobile exceeds its actual cash value.
Uninsured motorist coverage: Covers you when the other party in an accident doesn't have liability insurance coverage to pay for damages to your car or body.
DYNAMIC LIFE AND AUTO INSURANCE : Finding Inexpensive Term Life Insurance
Some people still think of life insurance as a luxury rather than as being the necessity that it often is. Those who are looking for inexpensive coverage will often go with cheap term life insurance, mainly because it is the easiest way to protect your family’s financial security in the event of your death.
Those who have young children or a long mortgage loan should take out a life insurance policy which will help in the repayment of your mortgage and other large bills if you were to die so that your family wouldn’t be left with a huge financial burden on top of the grief.
You can design your own term life insurance policy to match the repayment term on your mortgage. This makes it more convenient for your family so that if you were to die before the end of the mortgage term than the life insurance lump sum payout will clear the mortgage debt.
The life insurance industry is highly competitive and vast making it possible for you to find exactly what you are looking for at a great rate. There are many life insurance policies such as joint life or index linked and it may be confusing to know which one you should go with. The more convoluted insurance you purchase the more expensive the price is going to be, which is why cheap term life insurance is highly favored.
Term life insurance is one of the most inexpensive forms of life insurance you can buy and pays out a lump sum if you die within the length of the term. Term life insurance is so cheap because if you are still alive at the end of the term then no payment is made to you. This is the main reason you want to make sure you don’t over pay when it comes to your term life insurance.
It seems as if life insurance costs are on the way down. Life insurance premiums are an average of forty percent cheaper than they were a couple years ago. This is because of the advances in medicine which has helped us to live longer.
Thanks to the internet you can get many term life insurance policy quotes in a matter of minutes. You can also visit several other places including your personal bank or financial institution but the easiest place is still the internet. Companies have learned to make their websites and quotes systems incredibly easy and fast so that everyone will want to and be able to get a quote.
Keep in mind that these quotes that you receive online are only guides and the prices could change once you have completed the application fully. If this does occur then remember that if you aren’t happy with the new price then you aren’t under any obligation what so ever to purchase the policy.
Those who have young children or a long mortgage loan should take out a life insurance policy which will help in the repayment of your mortgage and other large bills if you were to die so that your family wouldn’t be left with a huge financial burden on top of the grief.
You can design your own term life insurance policy to match the repayment term on your mortgage. This makes it more convenient for your family so that if you were to die before the end of the mortgage term than the life insurance lump sum payout will clear the mortgage debt.
The life insurance industry is highly competitive and vast making it possible for you to find exactly what you are looking for at a great rate. There are many life insurance policies such as joint life or index linked and it may be confusing to know which one you should go with. The more convoluted insurance you purchase the more expensive the price is going to be, which is why cheap term life insurance is highly favored.
Term life insurance is one of the most inexpensive forms of life insurance you can buy and pays out a lump sum if you die within the length of the term. Term life insurance is so cheap because if you are still alive at the end of the term then no payment is made to you. This is the main reason you want to make sure you don’t over pay when it comes to your term life insurance.
It seems as if life insurance costs are on the way down. Life insurance premiums are an average of forty percent cheaper than they were a couple years ago. This is because of the advances in medicine which has helped us to live longer.
Thanks to the internet you can get many term life insurance policy quotes in a matter of minutes. You can also visit several other places including your personal bank or financial institution but the easiest place is still the internet. Companies have learned to make their websites and quotes systems incredibly easy and fast so that everyone will want to and be able to get a quote.
Keep in mind that these quotes that you receive online are only guides and the prices could change once you have completed the application fully. If this does occur then remember that if you aren’t happy with the new price then you aren’t under any obligation what so ever to purchase the policy.
DYNAMIC LIFE AND AUTO INSURANCE : Auto Insurance Components
Cheap auto insurance can end up costing you a lot more than you bargained for if you purchased discount car insurance without the coverage you really needed in the first place. Before you compare auto insurance quotes and buy insurance online, you should first know the basic types of insurance coverage available and then select the coverage that best suits your needs. We are here to help you make the right choices.
Before you start searching for auto insurance discounts and getting auto insurance, learn about both the basic and optional insurance coverage available. Do you need auto liability insurance and/or bodily injury liability protection? Should you purchase optional gap auto insurance? And what is the difference between comprehensive auto coverage and full coverage auto insurance? You'll find all the answers right here.
When you buy car insurance online, don't just compare auto insurance quotes, take a close look at the insurance coverage that comes with each insurance policy.
Auto insurance coverage is packaged into a number of different components. When considering discount car insurance, the first thing to do is determine what your state's minimum auto insurance requirements are. Each state is different, so visit our State-by State Insurance Guide to find out your state's requirements.
You purchase car insurance for two reasons:1) to protect yourself (and your family) in the event of an auto accident and you suffer a loss to your person or property; and, 2) to protect yourself (and your family) from losses suffered by others in the event of an auto accident.
Here are the basic types of auto insurance coverage and their components:
Listed below are the different components of a basic auto insurance policy, as well as several types of optional insurance coverage.
Auto Liability Insurance
Bodily Injury Liability Protection
Collision Coverage
Comprehensive Auto Coverage
Full Coverage Auto Insurance
Personal Injury Protection
Property Damage Liability
Uninsured Motorist Bodily Injury Protection
Uninsured Motorist Property Damage
Rental Car Reimbursement Coverage
Towing Reimbursement Coverage
Before you start searching for auto insurance discounts and getting auto insurance, learn about both the basic and optional insurance coverage available. Do you need auto liability insurance and/or bodily injury liability protection? Should you purchase optional gap auto insurance? And what is the difference between comprehensive auto coverage and full coverage auto insurance? You'll find all the answers right here.
When you buy car insurance online, don't just compare auto insurance quotes, take a close look at the insurance coverage that comes with each insurance policy.
Auto insurance coverage is packaged into a number of different components. When considering discount car insurance, the first thing to do is determine what your state's minimum auto insurance requirements are. Each state is different, so visit our State-by State Insurance Guide to find out your state's requirements.
You purchase car insurance for two reasons:1) to protect yourself (and your family) in the event of an auto accident and you suffer a loss to your person or property; and, 2) to protect yourself (and your family) from losses suffered by others in the event of an auto accident.
Here are the basic types of auto insurance coverage and their components:
Listed below are the different components of a basic auto insurance policy, as well as several types of optional insurance coverage.
Auto Liability Insurance
Bodily Injury Liability Protection
Collision Coverage
Comprehensive Auto Coverage
Full Coverage Auto Insurance
Personal Injury Protection
Property Damage Liability
Uninsured Motorist Bodily Injury Protection
Uninsured Motorist Property Damage
Rental Car Reimbursement Coverage
Towing Reimbursement Coverage
DYNAMIC LIFE AND AUTO INSURANCE : What if the life insurance policy doesn't cover end of life costs?
Life insurance policies should be there so that if something happens to you, your family members do not have to worry about paying for your medical bills or final costs. They should also not have to worry about taking care of any other bills that you happen to leave behind. However, what if you are the one who is dealing with the loss of someone, and that person's life insurance didn't happen to cover all of their final costs? If you are dealing with a spouse or a parent who has died, and their life insurance policies did not cover all of their final costs, you might feel like you don't have any options. However, there are some things that you can do.
First of all, double check. You need to request a copy of the person's life insurance and then a copy of what was paid out. Chances are that the life insurance company did pay out what they were supposed to, but you never know if that is going to be the case or not. It could be that there was a mistake made and the money is still waiting to be claimed. It is always a good idea to check first so that you know for sure you have not gotten enough money.
The next thing that you need to do is find a lawyer who can help you sort out what you are legally responsible for. There are many different cases of bills that you will need to pay for a loved one that has died, but there are also cases in which you do not need to pay that money. The bill collectors are not the people to talk to, because they will tell you that you are responsible for everything. Therefore, you want to talk to a lawyer so that you are completely aware of which bills you are responsible for, and which ones you have no legal obligation to pay.
Once you know what you are responsible for, you have several options. The first is to apply for government assistance for the various bills or for parts of them. There are several programs that you can take advantage of that might be able to help you out with some of the bills that you are responsible for.
The last thing that you can do is talk to each of the bill collectors and companies individually. Some of them will have their own policies that will help you settle the debts. Many times they will be able to clear the debt or take most of it away. Companies are very good about taking care of these types of things for the most part. If they cannot clear the debt for you, the companies will be able to set up payment plans that you can use so that paying back the bills will not be something that you have to worry about doing all at once. This should make things slightly lighter for you to have to deal with.
First of all, double check. You need to request a copy of the person's life insurance and then a copy of what was paid out. Chances are that the life insurance company did pay out what they were supposed to, but you never know if that is going to be the case or not. It could be that there was a mistake made and the money is still waiting to be claimed. It is always a good idea to check first so that you know for sure you have not gotten enough money.
The next thing that you need to do is find a lawyer who can help you sort out what you are legally responsible for. There are many different cases of bills that you will need to pay for a loved one that has died, but there are also cases in which you do not need to pay that money. The bill collectors are not the people to talk to, because they will tell you that you are responsible for everything. Therefore, you want to talk to a lawyer so that you are completely aware of which bills you are responsible for, and which ones you have no legal obligation to pay.
Once you know what you are responsible for, you have several options. The first is to apply for government assistance for the various bills or for parts of them. There are several programs that you can take advantage of that might be able to help you out with some of the bills that you are responsible for.
The last thing that you can do is talk to each of the bill collectors and companies individually. Some of them will have their own policies that will help you settle the debts. Many times they will be able to clear the debt or take most of it away. Companies are very good about taking care of these types of things for the most part. If they cannot clear the debt for you, the companies will be able to set up payment plans that you can use so that paying back the bills will not be something that you have to worry about doing all at once. This should make things slightly lighter for you to have to deal with.
DYNAMIC LIFE AND AUTO INSURANCE : Compare Online Auto Insurance Quotes from Multiple Companies
You chose to go online for your auto insurance quote? Good call! Online is the best way to receive quotes because the Internet and car insurance mix like peas and carrots.
It’s like having a free tool for comparing rates from different companies without having to send your information to each one individually. By using the web you can get your online auto insurance quote instantly by just completing one form.
It goes like this:
1. You answer a quick questionnaire on drivers, cars and coverage and hit “give me rates”;
2. In a split second, online programs use your information to generate quotes from leading companies;
3. Your compare auto insurance quotes online instantly and choose the one that’s best for you;
4. Purchase your policy online (optional);
5. Receive instant proof.
Throughout the whole process, you don’t even have to pick up the phone, it can all be done online. If you take time to read Government issued guides, you will notice that a common tip is to compare rates from multiple companies to find out which will offer you the cheapest rates. Compare auto insurance quotes online in order to quickly see who will insure you for less.
You don’t have to compromise quality to find competitive rates. There are a few insurers out there that are considered reputable and have a strong foundation and over all, are reliable.
It’s like having a free tool for comparing rates from different companies without having to send your information to each one individually. By using the web you can get your online auto insurance quote instantly by just completing one form.
It goes like this:
1. You answer a quick questionnaire on drivers, cars and coverage and hit “give me rates”;
2. In a split second, online programs use your information to generate quotes from leading companies;
3. Your compare auto insurance quotes online instantly and choose the one that’s best for you;
4. Purchase your policy online (optional);
5. Receive instant proof.
Throughout the whole process, you don’t even have to pick up the phone, it can all be done online. If you take time to read Government issued guides, you will notice that a common tip is to compare rates from multiple companies to find out which will offer you the cheapest rates. Compare auto insurance quotes online in order to quickly see who will insure you for less.
You don’t have to compromise quality to find competitive rates. There are a few insurers out there that are considered reputable and have a strong foundation and over all, are reliable.
DYNAMIC LIFE AND AUTO INSURANCE : Finding the right whole life insurance policy for you
Life insurance can be a very important tool to help make sure that your family is taken care of and won’t face undue financial stress should you pass away, but it isn’t always easy to find the insurance policy that will best meet your needs. While term life insurance is constantly growing in popularity, there are some aspects of a term life policy that just aren’t right for every insurance customer. Perhaps you’ve looked at term life policies and decided that they weren’t really what you were seeking, and have begun to wonder about whether you’d be better served with a whole life policy. You need to remember that not all whole life policies are created equal, of course, and try to keep some of the following considerations in mind when shopping around to try and find the right whole life insurance policy to meet your needs.
One of the big benefits of whole life insurance is that it provides an investment component that continues to grow as time goes by in addition to the base coverage of the policy. This investment will accumulate a value of its own over time, allowing you to borrow against it in a manner similar to the equity that you build up in a home. The rate at which this investment grows will depend largely upon the way that your policy is set up to make the investment and the types of investments that are made, so it’s important that you take the time to discuss this with agents when shopping for a whole life insurance policy in order to find the policy that will grow as you want it to.
Many people tend to look at term life policies first because they usually feature lower premiums that can be locked in at the same rate for the entire term, but just because you’re shopping for a whole life policy doesn’t mean that you can’t get a good premium rate. Different policies will feature different premiums, and you should take the time to shop around among several insurance providers in order to find the rate that best fits your budget. Some insurance providers will allow you to lock in a whole life rate just as you would with a term policy, though it’s important that you consider all of your options so that you don’t pass up a better deal by locking in a policy with a somewhat higher rate.
The best thing that you can do in order to make sure that you get the whole life insurance policy that’s right for you is to take your time in choosing the policy that you buy. Talk to a number of insurance agents about what you want, getting quotes for policies that feature the coverage level, investment rates, and features that you’re looking for. Get quotes for the policies that you’re considering and compare how much they will cost over time. Don’t just agree to the lowest premium without making sure that it’s going to feature everything that you want, or else you might end up with a policy that isn’t quite what you had in mind when you started shopping.
One of the big benefits of whole life insurance is that it provides an investment component that continues to grow as time goes by in addition to the base coverage of the policy. This investment will accumulate a value of its own over time, allowing you to borrow against it in a manner similar to the equity that you build up in a home. The rate at which this investment grows will depend largely upon the way that your policy is set up to make the investment and the types of investments that are made, so it’s important that you take the time to discuss this with agents when shopping for a whole life insurance policy in order to find the policy that will grow as you want it to.
Many people tend to look at term life policies first because they usually feature lower premiums that can be locked in at the same rate for the entire term, but just because you’re shopping for a whole life policy doesn’t mean that you can’t get a good premium rate. Different policies will feature different premiums, and you should take the time to shop around among several insurance providers in order to find the rate that best fits your budget. Some insurance providers will allow you to lock in a whole life rate just as you would with a term policy, though it’s important that you consider all of your options so that you don’t pass up a better deal by locking in a policy with a somewhat higher rate.
The best thing that you can do in order to make sure that you get the whole life insurance policy that’s right for you is to take your time in choosing the policy that you buy. Talk to a number of insurance agents about what you want, getting quotes for policies that feature the coverage level, investment rates, and features that you’re looking for. Get quotes for the policies that you’re considering and compare how much they will cost over time. Don’t just agree to the lowest premium without making sure that it’s going to feature everything that you want, or else you might end up with a policy that isn’t quite what you had in mind when you started shopping.
DYNAMIC LIFE AND AUTO INSURANCE : Automobile Insurance Coverage Bodily Injury
Whatever reason you are shopping for auto insurance, rather it includes the purchase of a vehicle or it is time to renew your existing policy, the decision is not one to be taken lightly.
With questions as what coverage to add, what it all means, what are you agreeing to, etc. can often appear as if it was developed by some alien planet, there are reasons for each specific coverage offered.
Two very important factors to be considered when deciding on bodily injury automobile insurance coverage are, it may be required by law and it protects you financially.
In simple terms, bodily injury coverage provides expenses associated with injury or death to other people due to an accident in which you are involved.
In addition, it offers legal defense in the case of a law suit being filed. It also covers passengers in your vehicle; however, what it does not cover, is your vehicle or anyone named in your policy as a driver.
Not just covering the expense of the injury itself, bodily injury coverage contains provisions for loss of income and pain and suffering as well.
Mandatory in most states, the amount required is also state mandated. While some states do not require the coverage, they do require the ability to provide financial responsibility.
Should you be involved in an at fault accident where death or injury is a result, the inability to provide financial aid can result in a state imposed SR 22. If placed on your report, you would be required to maintain this coverage for three years, and the cost far outweighs any amount having the protection in the first place would have cost you.
Your insurance agent, who is well trained in the otherwise alien language, is your best option for determining the amount of coverage you will need. Important factors to consider are the financial results if you are under insured and the ability to tap into your personal finances in the case of a judgement.
While the coverage is provided in increments of $100,000’s, there are two portions to the actual provision. While the first portion covers the amount per person, the second portion covers the maximum paid per accident.
Taking into account all personal assets, including real estate, your coverage should be equal to your net worth. Again, your insurance agent has guides and formulas to assist in determining the amount that best protects you.
The cost associated with adding bodily injury to your policy takes into account many factors when assessing the amount you will pay annually. With the location of your residence being a primary factor, age, marital status and driving record are also used in the calculation. One thing to consider in having a bodily injury endorsement is to consider full coverage insurance.
While the state board of insurance can provide information on the requirements of the coverage required for your state, it is not a sound financial decision to go without this protection.
As lawsuits continue to increase where auto accidents are concerned, having bodily injury coverage on your automobile insurance policy just makes sense.
With questions as what coverage to add, what it all means, what are you agreeing to, etc. can often appear as if it was developed by some alien planet, there are reasons for each specific coverage offered.
Two very important factors to be considered when deciding on bodily injury automobile insurance coverage are, it may be required by law and it protects you financially.
In simple terms, bodily injury coverage provides expenses associated with injury or death to other people due to an accident in which you are involved.
In addition, it offers legal defense in the case of a law suit being filed. It also covers passengers in your vehicle; however, what it does not cover, is your vehicle or anyone named in your policy as a driver.
Not just covering the expense of the injury itself, bodily injury coverage contains provisions for loss of income and pain and suffering as well.
Mandatory in most states, the amount required is also state mandated. While some states do not require the coverage, they do require the ability to provide financial responsibility.
Should you be involved in an at fault accident where death or injury is a result, the inability to provide financial aid can result in a state imposed SR 22. If placed on your report, you would be required to maintain this coverage for three years, and the cost far outweighs any amount having the protection in the first place would have cost you.
Your insurance agent, who is well trained in the otherwise alien language, is your best option for determining the amount of coverage you will need. Important factors to consider are the financial results if you are under insured and the ability to tap into your personal finances in the case of a judgement.
While the coverage is provided in increments of $100,000’s, there are two portions to the actual provision. While the first portion covers the amount per person, the second portion covers the maximum paid per accident.
Taking into account all personal assets, including real estate, your coverage should be equal to your net worth. Again, your insurance agent has guides and formulas to assist in determining the amount that best protects you.
The cost associated with adding bodily injury to your policy takes into account many factors when assessing the amount you will pay annually. With the location of your residence being a primary factor, age, marital status and driving record are also used in the calculation. One thing to consider in having a bodily injury endorsement is to consider full coverage insurance.
While the state board of insurance can provide information on the requirements of the coverage required for your state, it is not a sound financial decision to go without this protection.
As lawsuits continue to increase where auto accidents are concerned, having bodily injury coverage on your automobile insurance policy just makes sense.
DYNAMIC LIFE AND AUTO INSURANCE : Questions to Ask before Buying Whole Life Insurance
Once you’ve decided to buy whole life insurance, you’re ready to start looking for the best deal on a policy. To make sure you get the best deal—and that you fully understand the policy you’re buying—ask your agent or insurance carrier these questions (and any others that you feel are important).
1.What events does the policy provide coverage for? What isn’t included?
The most unpleasant surprise for your family—if they have to make a claim—is going to be finding out that, for some reason, the policy is invalid. To prevent these kinds of problems it’s absolutely vital that you fully understand what coverage your policy provides. Your policy might cover accidental death, but it might not cover high-risk sports, for example. If your favorite hobby is sky-diving or mountain climbing, that’s not the policy for you.
If you’re also buying critical illness insurance, be doubly sure you read the fine print and check what coverage applies. The number one reason that people get critical illness insurance claims turned down is simply that they weren’t covered for a particular illness, and didn’t know until it was too late.
2.Can you name any beneficiary, or choose more than one beneficiary?
People who buy whole life insurance tend to name their partner as the beneficiary. However, most policies will allow you to name multiple beneficiaries, as long as all the beneficiaries you choose have an “insurable interest” (this means they must suffer either a financial or an emotional loss if you die), so if you wish, you could name your children in addition to or instead of your partner.
3.How is a claim made?
Unless you’ve also bought critical illness insurance, your beneficiary is the person who will make a claim. Find out all about this process when you buy the policy, and make sure at least one beneficiary has all the necessary information.
4.Can your premiums increase?
Not all policies increase premiums based on your age and state of health. Increasing premiums make a big difference to the annual cost of your policy so this is an important question. Note, however, that even if an insurer claims they don’t increase premiums on individual policies, that doesn’t mean yours will never increase. If the insurance company increases rates for your class as a whole, you’ll end up paying more.
5.What happens if you miss a payment?
Most insurers will give you a grace period of at least one month to repay a missed payment, after which the policy lapses. Many also provide a second grace period to give you time to resume payments. Missing the second grace period usually means your policy lapses permanently.
6.Will you save money if you pay annually or by direct debit?
Many insurers offer small discounts for people who choose to pay their premiums in a certain way. Depending on the insurer you choose, you might be able to save money on premiums by paying annually, and by direct debit.
1.What events does the policy provide coverage for? What isn’t included?
The most unpleasant surprise for your family—if they have to make a claim—is going to be finding out that, for some reason, the policy is invalid. To prevent these kinds of problems it’s absolutely vital that you fully understand what coverage your policy provides. Your policy might cover accidental death, but it might not cover high-risk sports, for example. If your favorite hobby is sky-diving or mountain climbing, that’s not the policy for you.
If you’re also buying critical illness insurance, be doubly sure you read the fine print and check what coverage applies. The number one reason that people get critical illness insurance claims turned down is simply that they weren’t covered for a particular illness, and didn’t know until it was too late.
2.Can you name any beneficiary, or choose more than one beneficiary?
People who buy whole life insurance tend to name their partner as the beneficiary. However, most policies will allow you to name multiple beneficiaries, as long as all the beneficiaries you choose have an “insurable interest” (this means they must suffer either a financial or an emotional loss if you die), so if you wish, you could name your children in addition to or instead of your partner.
3.How is a claim made?
Unless you’ve also bought critical illness insurance, your beneficiary is the person who will make a claim. Find out all about this process when you buy the policy, and make sure at least one beneficiary has all the necessary information.
4.Can your premiums increase?
Not all policies increase premiums based on your age and state of health. Increasing premiums make a big difference to the annual cost of your policy so this is an important question. Note, however, that even if an insurer claims they don’t increase premiums on individual policies, that doesn’t mean yours will never increase. If the insurance company increases rates for your class as a whole, you’ll end up paying more.
5.What happens if you miss a payment?
Most insurers will give you a grace period of at least one month to repay a missed payment, after which the policy lapses. Many also provide a second grace period to give you time to resume payments. Missing the second grace period usually means your policy lapses permanently.
6.Will you save money if you pay annually or by direct debit?
Many insurers offer small discounts for people who choose to pay their premiums in a certain way. Depending on the insurer you choose, you might be able to save money on premiums by paying annually, and by direct debit.
Dynamic Life And Auto Insurance : Why buy a 5 Year Term or 10 Year Term life Insurance Policy?
Why you should consider buying a lesser term life insurance policy
The title of this article may be a bit off. Not everyone should buy a shorter term life insurance policy however, there are some very good reasons why individuals should if the circumstances match up. In this article, I'll mention some obvious and not so obvious reasons why you or one of your family members should consider purchasing a 5 year term life insurance policy or a 10 year term life insurance policy.
Free Term Life Insurance Quotes
It's cheaper!
Ok, this is the obvious reason one may consider purchasing a shorter term life insurance policy. The longer the term the more expensive your premiums. So a short term insurance policy is quite a bit cheaper. The reasons for this is that it is less risky for the insurance company to insure. Of course your policy premium still has a lot to do with your health but in general the shorter the term, the cheaper the premiums. Saying that, I would not recommend purchasing a shorter term simply because it's more affordable. You would find out that once the policy is up your rates would go up and it would be quite a bit more to purchase three 10 year term life insurance policies back-to-back then to purchase one 30 year term life insurance policy. So why would someone want a shorter term?
It's for certain circumstances
When you know when your burdens are significantly reduced you can purchase a term life insurance policy to end at the right time. For example, if you're last child is a senior in high school and your well on your way to become an empty nester you can assume that your costs associated with education, and every other expense associated with children will be gone in 5 years then why not purchase a policy to cover that period. If you are in your 60's and are close to medicare or possibly cashing out some investments then you may consider a shorter term life insurance policy. Maybe your close to paying off your mortgage and all of your other expenses are covered through a different policy you may want to consider purchasing a 5, 10 or even 15 year term life insurance policy.
I believe we've made our point. It's all about timing and each term life insurance product is designed to meet certain instances and circumstances. Not every life insurance company offers shorter term life policies so you may need to shop around.
The title of this article may be a bit off. Not everyone should buy a shorter term life insurance policy however, there are some very good reasons why individuals should if the circumstances match up. In this article, I'll mention some obvious and not so obvious reasons why you or one of your family members should consider purchasing a 5 year term life insurance policy or a 10 year term life insurance policy.
Free Term Life Insurance Quotes
It's cheaper!
Ok, this is the obvious reason one may consider purchasing a shorter term life insurance policy. The longer the term the more expensive your premiums. So a short term insurance policy is quite a bit cheaper. The reasons for this is that it is less risky for the insurance company to insure. Of course your policy premium still has a lot to do with your health but in general the shorter the term, the cheaper the premiums. Saying that, I would not recommend purchasing a shorter term simply because it's more affordable. You would find out that once the policy is up your rates would go up and it would be quite a bit more to purchase three 10 year term life insurance policies back-to-back then to purchase one 30 year term life insurance policy. So why would someone want a shorter term?
It's for certain circumstances
When you know when your burdens are significantly reduced you can purchase a term life insurance policy to end at the right time. For example, if you're last child is a senior in high school and your well on your way to become an empty nester you can assume that your costs associated with education, and every other expense associated with children will be gone in 5 years then why not purchase a policy to cover that period. If you are in your 60's and are close to medicare or possibly cashing out some investments then you may consider a shorter term life insurance policy. Maybe your close to paying off your mortgage and all of your other expenses are covered through a different policy you may want to consider purchasing a 5, 10 or even 15 year term life insurance policy.
I believe we've made our point. It's all about timing and each term life insurance product is designed to meet certain instances and circumstances. Not every life insurance company offers shorter term life policies so you may need to shop around.
Dynamic Life And Auto Insurance : Top 5 Auto Insurance Money-Saving Tips
The more you know about insurance, the more you'll be able to save on your premiums. The good news is www.kanetix.ca has compiled a list of the most common money-saving tips to get you started.
Insure All Your Cars on the Same Policy
Most insurance companies offer a "multi-car discount" for customers who insure more than one car on the same policy. This alone can bring you a savings of up to 10 per cent.
Insure Your Home and Car With the Same Insurer
You can get up to 10 per cent off your premiums if you insure your car and your home through the same insurer.
Often referred to as a "multi-line discount", this is offered by most insurance companies as an incentive to get your home insurance business too.
Increase Your Deductibles
A deductible is the portion of an insurance claim you agree to pay. Your insurer picks up the rest. By taking on greater financial responsibility, the insurance company considers you less of an insurance risk and will adjust your premiums accordingly.
In other words, the higher the deductible you choose, the lower your insurance rate. For example, online quotes through www.kanetix.ca showed that increasing your deductibles from $500 to $1,000 could save about 5-10 per cent.
Choose a Car That Costs Less to Insure
Sure they all have 4 wheels and get you from point A to B, but each car is rated differently - mostly on its previous claims history.
For example, the more likely the car is to be stolen or in an accident, the more you will pay for insurance to cover it. If you are buying a new car, compare quotes online first to see how your new car rates with insurers.
Shop Around
Auto insurance coverage may be standard throughout the province, but insurance premiums are another story.
Coverage from one company to the next can vary by hundreds of dollars. The only way to make sure you are getting the best price for your policy is to shop around and compare rates from several companies.
Insure All Your Cars on the Same Policy
Most insurance companies offer a "multi-car discount" for customers who insure more than one car on the same policy. This alone can bring you a savings of up to 10 per cent.
Insure Your Home and Car With the Same Insurer
You can get up to 10 per cent off your premiums if you insure your car and your home through the same insurer.
Often referred to as a "multi-line discount", this is offered by most insurance companies as an incentive to get your home insurance business too.
Increase Your Deductibles
A deductible is the portion of an insurance claim you agree to pay. Your insurer picks up the rest. By taking on greater financial responsibility, the insurance company considers you less of an insurance risk and will adjust your premiums accordingly.
In other words, the higher the deductible you choose, the lower your insurance rate. For example, online quotes through www.kanetix.ca showed that increasing your deductibles from $500 to $1,000 could save about 5-10 per cent.
Choose a Car That Costs Less to Insure
Sure they all have 4 wheels and get you from point A to B, but each car is rated differently - mostly on its previous claims history.
For example, the more likely the car is to be stolen or in an accident, the more you will pay for insurance to cover it. If you are buying a new car, compare quotes online first to see how your new car rates with insurers.
Shop Around
Auto insurance coverage may be standard throughout the province, but insurance premiums are another story.
Coverage from one company to the next can vary by hundreds of dollars. The only way to make sure you are getting the best price for your policy is to shop around and compare rates from several companies.
Dynamic Life And Auto Insurance : Online Life Insurance Quotes
Life Insurance Quotes Made Painless
It used to be that getting a quote on life insurance felt like you were pre-determining your life expectancy. Sure, they called it a life insurance quote, but it seemed more like a death insurance quote. After answering each question, the insurance salesperson would give you that look that says, "How could you do that? Don't you know it cuts ten years off your life?"
Well it's not that bad today. Life insurance quotes are now easier than ever, thanks to the time saving technology from the online world. You can get a term life insurance quote from several companies and compare them without ever talking to a representative. Get a whole life insurance quote in a matter of seconds instead of days. And you can do it all from the comfort of home.
Some Things to Remember When you Compare Life Insurance Quotes
1. Be Accurate: The more accurate your information is, the more accurate your life quote will be. Never hide information like whether or not you smoke. Remember, this would set life insurance companies free from their obligations in the event of your death?so it wouldn?t even make sense to have insurance if you?re not as accurate as possible.
2. Never Base Your Choices on Price Alone: Low prices are always attractive, but find out for sure that a policy will suit your needs. Ask for the details involved in term life insurance and whole life insurance plans. Don?t take anything for granted. And research the insurance companies. Find out how long they?ve been in business and how fast their usual turn around is for pay-offs.
3. Compare from at Least Three Companies: There is no reason to limit yourself to one or two quotes?not when obtaining a quote is so easy. Shop around and find out what insurance companies have to offer.
4. To Compare Life Insurance Quotes, Start with the Same Set of Answers: If you?re comparing different quotes, make sure they?re not for different policies. Type of life insurance policy, time periods for term policies, and the insured amount can all have a huge impact on a quote?so make sure the answers to questionnaires are the same from company to company.
The Difference between Whole Life Insurance and Term Life Insurance
For the most part, there are two kinds of life insurance: whole life insurance and term life insurance. While there are variations of both of these, the biggest difference between the two is that one is for long term coverage and one is for short term coverage?and your life insurance quotes will be very different for each one.
Whole Life Insurance (generally for long term coverage) has a set premium and doesn?t change (except for some variations) throughout the policy term. You pay your premiums, and when you die, your beneficiary receives the pay-off. Your whole life insurance quote will specify the premium amount. As you pay into the policy, it builds equity, which you can withdraw or borrow against.
Term Life Insurance (usually used for short term coverage) only lasts for a certain amount of time. That time is defined in the term life insurance quote. At the end of this term, the policy ends and the policy is re-evaluated for a new quote.
Using Online Life Insurance Quotes
Use a website that connects you to several life insurance companies. Add them to your favorites menu so you can find them again. As you receive your quotes, print them out for easy comparison. In no time at all, you?ll find the perfect company for your life insurance needs without ever feeling like you?re the one being examined.
It used to be that getting a quote on life insurance felt like you were pre-determining your life expectancy. Sure, they called it a life insurance quote, but it seemed more like a death insurance quote. After answering each question, the insurance salesperson would give you that look that says, "How could you do that? Don't you know it cuts ten years off your life?"
Well it's not that bad today. Life insurance quotes are now easier than ever, thanks to the time saving technology from the online world. You can get a term life insurance quote from several companies and compare them without ever talking to a representative. Get a whole life insurance quote in a matter of seconds instead of days. And you can do it all from the comfort of home.
Some Things to Remember When you Compare Life Insurance Quotes
1. Be Accurate: The more accurate your information is, the more accurate your life quote will be. Never hide information like whether or not you smoke. Remember, this would set life insurance companies free from their obligations in the event of your death?so it wouldn?t even make sense to have insurance if you?re not as accurate as possible.
2. Never Base Your Choices on Price Alone: Low prices are always attractive, but find out for sure that a policy will suit your needs. Ask for the details involved in term life insurance and whole life insurance plans. Don?t take anything for granted. And research the insurance companies. Find out how long they?ve been in business and how fast their usual turn around is for pay-offs.
3. Compare from at Least Three Companies: There is no reason to limit yourself to one or two quotes?not when obtaining a quote is so easy. Shop around and find out what insurance companies have to offer.
4. To Compare Life Insurance Quotes, Start with the Same Set of Answers: If you?re comparing different quotes, make sure they?re not for different policies. Type of life insurance policy, time periods for term policies, and the insured amount can all have a huge impact on a quote?so make sure the answers to questionnaires are the same from company to company.
The Difference between Whole Life Insurance and Term Life Insurance
For the most part, there are two kinds of life insurance: whole life insurance and term life insurance. While there are variations of both of these, the biggest difference between the two is that one is for long term coverage and one is for short term coverage?and your life insurance quotes will be very different for each one.
Whole Life Insurance (generally for long term coverage) has a set premium and doesn?t change (except for some variations) throughout the policy term. You pay your premiums, and when you die, your beneficiary receives the pay-off. Your whole life insurance quote will specify the premium amount. As you pay into the policy, it builds equity, which you can withdraw or borrow against.
Term Life Insurance (usually used for short term coverage) only lasts for a certain amount of time. That time is defined in the term life insurance quote. At the end of this term, the policy ends and the policy is re-evaluated for a new quote.
Using Online Life Insurance Quotes
Use a website that connects you to several life insurance companies. Add them to your favorites menu so you can find them again. As you receive your quotes, print them out for easy comparison. In no time at all, you?ll find the perfect company for your life insurance needs without ever feeling like you?re the one being examined.
Dynamic LIfe And Auto Insurance : Affordable Business Auto Insurance
If you're shopping for affordable auto insurance and looking to save money, there are many variables to consider. The price of auto insurance varies depending on the car you drive, your driving record, and the insurance company you choose. This guide has information to help you choose the best auto insurance policy for your goals.
If you're wanting Affordable Business Auto Insurance, You Need To Shop Around
It's easy to shop around and get price quotes from various companies now that most of this information is online. the Insurance Information Institute suggests drivers get at least three price quotes. You can get an online auto insurance quote from an insurance Web site or call them directly. Sometimes, your state insurance department has charts to compare auto insurance. Be sure to compare quotes from different types of insurance companies. For example, some companies sell policies through their own agents, while others sell through independent agents who offer policies from various insurance companies. Sometimes policies are sold directly online or by phone. Depending on the sales method, prices may vary.
Remember, though, you shouldn't shop by price alone. Make sure the company as a whole satisfies you. Do they answer your questions and handle claims effectively and fairly? Talk with friends, family, and co-workers, or check consumer magazines. State insurance departments also provide consumer complaint ratios for various companies.
Ask for Higher Deductible To Reduce The Cost of Your Business Auto Insurance
A higher deductible can lower the price of your auto insurance considerably. According to www.iii.org, "Increasing your deductible from $200 to $500 could reduce your collision coverage and comprehensive coverage premium by 15 to 30 percent. Going to a $1,000 deductible can save you 40 percent or more." These are substantial savings; however, you need the deductible on hand in case something happens to your vehicle.
Compare Insurance Costs Before Buying Car
The price of auto insurance depends greatly on the type of car you drive. Factors include the sticker price, costs for repair, overall safety record and the likelihood of theft. Often insurers offer discounts to drivers who take measures to reduce the risk of injuries or theft.
Purchase Home and Auto Insurance from Same Provider
If you buy two or more types of insurance from one insurer, you will often receive a multi-policy discount. You may also pay a lower price if you insure more than one vehicle with the same insurance company. Often, long-time customers are offered reduced premiums.
Take Advantage of Low-mileage and Safe-driver Discounts
Some motorists receive a low-mileage discount from their insurers for driving a lower than average number of miles per year. These discounts also often apply to drivers who carpool. And, if you're a safe driver, and you have not had any accidents or moving violations in a number of years, many companies will reward you with a safe-driver discount. If you've recently taken a defensive driving course, you may also receive a price reduction.
To save money on, business auto insurance is something to ask about. You may be eligible for insurance through your employer, or through professional or business groups and other associations you are involved in. You should also closely monitor your credit rating because your credit may affect the price you pay for insurance. No matter what, always shop around and compare prices. This is the most effective way to save money on auto insurance!
If you're wanting Affordable Business Auto Insurance, You Need To Shop Around
It's easy to shop around and get price quotes from various companies now that most of this information is online. the Insurance Information Institute suggests drivers get at least three price quotes. You can get an online auto insurance quote from an insurance Web site or call them directly. Sometimes, your state insurance department has charts to compare auto insurance. Be sure to compare quotes from different types of insurance companies. For example, some companies sell policies through their own agents, while others sell through independent agents who offer policies from various insurance companies. Sometimes policies are sold directly online or by phone. Depending on the sales method, prices may vary.
Remember, though, you shouldn't shop by price alone. Make sure the company as a whole satisfies you. Do they answer your questions and handle claims effectively and fairly? Talk with friends, family, and co-workers, or check consumer magazines. State insurance departments also provide consumer complaint ratios for various companies.
Ask for Higher Deductible To Reduce The Cost of Your Business Auto Insurance
A higher deductible can lower the price of your auto insurance considerably. According to www.iii.org, "Increasing your deductible from $200 to $500 could reduce your collision coverage and comprehensive coverage premium by 15 to 30 percent. Going to a $1,000 deductible can save you 40 percent or more." These are substantial savings; however, you need the deductible on hand in case something happens to your vehicle.
Compare Insurance Costs Before Buying Car
The price of auto insurance depends greatly on the type of car you drive. Factors include the sticker price, costs for repair, overall safety record and the likelihood of theft. Often insurers offer discounts to drivers who take measures to reduce the risk of injuries or theft.
Purchase Home and Auto Insurance from Same Provider
If you buy two or more types of insurance from one insurer, you will often receive a multi-policy discount. You may also pay a lower price if you insure more than one vehicle with the same insurance company. Often, long-time customers are offered reduced premiums.
Take Advantage of Low-mileage and Safe-driver Discounts
Some motorists receive a low-mileage discount from their insurers for driving a lower than average number of miles per year. These discounts also often apply to drivers who carpool. And, if you're a safe driver, and you have not had any accidents or moving violations in a number of years, many companies will reward you with a safe-driver discount. If you've recently taken a defensive driving course, you may also receive a price reduction.
To save money on, business auto insurance is something to ask about. You may be eligible for insurance through your employer, or through professional or business groups and other associations you are involved in. You should also closely monitor your credit rating because your credit may affect the price you pay for insurance. No matter what, always shop around and compare prices. This is the most effective way to save money on auto insurance!
Dynamic Life And Auto Insurance : Do You Still Need Life Insurance if You're Widowed?
As your life changes, your financial needs change as well. Re-evaluating your insurance coverage after your spouse has passed away is an important part of getting your finances in order. If you're older or have grown children, you may need less life insurance or none at all now that you're widowed. But if you have children or other people who are financially dependent on you (e.g., elderly parents), you may need more life insurance than you think.
Your coverage needs
Though your family has changed, the need to protect your children's future remains. Life insurance can help ensure that your children will be provided for if something happens to you. The amount of life insurance you need depends on the number and ages of your children, as well as your income, debt, and assets. A good rule of thumb is to buy coverage that equals six to eight times your annual salary. You will want to make sure that you have enough insurance to cover your children's day-to-day living expenses and the cost of their college education. Ask your insurance agent or a financial planner to help you evaluate your needs and find a life insurance policy that's right for you.
Beneficiary Designations
Whether you have children or not, you should also review and update the beneficiary designations on any life insurance policies you own. Your insurance agent can help you with the necessary paperwork. If you don't have an agent, you can always call your insurance company and ask to speak to someone in the policyholder service department for more information. But don't name a minor child. Insurers generally won't make settlements directly to minors, and the probate court handling your estate may require that a trust be set up, and a guardian appointed, to manage the proceeds.
Tips on buying life insurance
You may have the opportunity to purchase group life insurance through your employer, trade groups, or professional associations
If you're concerned about the cost of premiums, consider low-cost term life insurance
Find an experienced insurance agent or financial planner to help you evaluate your situation and the products available
Check insurance company ratings, such as A.M. Best and Standard & Poor's, for an insurance company's financial stability
Be sure to shop around for the best rates
Periodically review your life insurance needs to make sure that you have the proper amount of coverage
Your coverage needs
Though your family has changed, the need to protect your children's future remains. Life insurance can help ensure that your children will be provided for if something happens to you. The amount of life insurance you need depends on the number and ages of your children, as well as your income, debt, and assets. A good rule of thumb is to buy coverage that equals six to eight times your annual salary. You will want to make sure that you have enough insurance to cover your children's day-to-day living expenses and the cost of their college education. Ask your insurance agent or a financial planner to help you evaluate your needs and find a life insurance policy that's right for you.
Beneficiary Designations
Whether you have children or not, you should also review and update the beneficiary designations on any life insurance policies you own. Your insurance agent can help you with the necessary paperwork. If you don't have an agent, you can always call your insurance company and ask to speak to someone in the policyholder service department for more information. But don't name a minor child. Insurers generally won't make settlements directly to minors, and the probate court handling your estate may require that a trust be set up, and a guardian appointed, to manage the proceeds.
Tips on buying life insurance
You may have the opportunity to purchase group life insurance through your employer, trade groups, or professional associations
If you're concerned about the cost of premiums, consider low-cost term life insurance
Find an experienced insurance agent or financial planner to help you evaluate your situation and the products available
Check insurance company ratings, such as A.M. Best and Standard & Poor's, for an insurance company's financial stability
Be sure to shop around for the best rates
Periodically review your life insurance needs to make sure that you have the proper amount of coverage
Dynamic Life And Auto Insurance : Five Top Tips to Lower Auto Insurance Premiums
The more you know about insurance and how it works, the more you'll be able to save off your premiums. The good news is that www.kanetix.ca has compiled a list of the most common money-saving tips to get you started.
Insure all your cars on the same policy
Most insurance companies offer a "multi-car discount" for customers who insure more than one car on the same policy. This alone can bring you a savings of up to 10 per cent!
Insure your home and car with the same insurer
You can get up to 5 per cent off your premiums if you insure your car and your home through the same insurance company. This is commonly referred to as a "multi-line discount" and is offered by most insurance companies as an incentive to get your home insurance business too.
Increase your deductibles
A deductible is the portion of an insurance claim you agree to pay. Your insurance company picks up the rest. By taking on more financial responsibility, the insurance company considers you less of an insurance risk and will adjust your premiums accordingly.
In other words, the higher the deductible you choose, the lower your insurance rate. How much are we talking about? That depends, but online quotes through www.kanetix.ca show that increasing your deductibles from $500 to $1,000 you could save about 5-10 per cent!
Bonus tip
If your car is getting up there in age, you might want to consider dropping the collision coverage on your policy altogether. Talk this one out with your insurance representative because you need to weigh the cost of the collision coverage with the value of your car and your deductible. But consider this, if your car is worth $1000, and your deductible is $1000, your collision coverage is not going to help.
Choose a car that costs less to insure
Sure they all have 4 wheels and get you from point A to point B, but each car is rated differently - mostly on its previous claims history. For example, the more likely the car is to be stolen or in an accident, the more you will pay for insurance to cover it. If you are buying a new car, compare quotes online first to see how your new car rates with insurers.
Shop around
Auto insurance coverage may be standard throughout the province, but insurance premiums are another story. Coverage from one company to the next can vary by hundreds of dollars. The only way to make sure you are getting the best price for your policy is to shop around and compare rates from several companies.
Insure all your cars on the same policy
Most insurance companies offer a "multi-car discount" for customers who insure more than one car on the same policy. This alone can bring you a savings of up to 10 per cent!
Insure your home and car with the same insurer
You can get up to 5 per cent off your premiums if you insure your car and your home through the same insurance company. This is commonly referred to as a "multi-line discount" and is offered by most insurance companies as an incentive to get your home insurance business too.
Increase your deductibles
A deductible is the portion of an insurance claim you agree to pay. Your insurance company picks up the rest. By taking on more financial responsibility, the insurance company considers you less of an insurance risk and will adjust your premiums accordingly.
In other words, the higher the deductible you choose, the lower your insurance rate. How much are we talking about? That depends, but online quotes through www.kanetix.ca show that increasing your deductibles from $500 to $1,000 you could save about 5-10 per cent!
Bonus tip
If your car is getting up there in age, you might want to consider dropping the collision coverage on your policy altogether. Talk this one out with your insurance representative because you need to weigh the cost of the collision coverage with the value of your car and your deductible. But consider this, if your car is worth $1000, and your deductible is $1000, your collision coverage is not going to help.
Choose a car that costs less to insure
Sure they all have 4 wheels and get you from point A to point B, but each car is rated differently - mostly on its previous claims history. For example, the more likely the car is to be stolen or in an accident, the more you will pay for insurance to cover it. If you are buying a new car, compare quotes online first to see how your new car rates with insurers.
Shop around
Auto insurance coverage may be standard throughout the province, but insurance premiums are another story. Coverage from one company to the next can vary by hundreds of dollars. The only way to make sure you are getting the best price for your policy is to shop around and compare rates from several companies.
DYNAMIC LIFE AND AUTO INSURANCE : How Your Use of Alcohol Affects Life Insurance Costs
The Society of Actuaries says that alcohol abuse may take off anywhere from 10 to 15 years of your life. But did you know it can also raise your life insurance premiums?
When applying for life insurance, you will have to answer questions on the application related to your alcohol use. There is no actual insurance ruling on "problem drinkers" or "alcoholics," but excessive drinking can lead to certain medical conditions which will ultimately affect what insurance rate a life insurance company assigns you. It's very rare that you will be denied coverage based on the answer you give, but it may prompt a further investigation into your life and use of alcohol.
Red flags
When a life insurance company is reviewing your application and records, there are a couple of things they look for that may "red flag " you as a risk:
Liver enzymes.
If you took a blood test, your life insurance company may test a sample for liver enzymes. If levels are elevated, it may mean there is an alcohol-related medical problem. Also, if you're not a drinker, elevated levels may signal there is something seriously wrong with your health. A decision for your life insurance will be postponed until you meet with a doctor and find the reason your liver is not functioning like normal.
Drunk driving conviction.
Even if it was your first time and an isolated incident, if you were cited with a drunk driving conviction, you might get a higher premium because it's a red flag for alcohol abuse. If you get a DWI, your life insurance company will be more prone to search through your record, to see if there is more than just the one cited incident.
Attending physician's statement (APS).
An APS is a statement that your insurance company requests from your doctor or physician regarding your health.
It is used to check for anything that shows alcohol is affecting your health. It may have the same information that you wrote down in your application, but if your doctor has concerns about your drinking, they will be included as well.
Survey says
The underwriter gets to make the decision on what happens if they notice one or more of the above red flags while reviewing your life insurance application. They can either:
Issue the policy
Offer you a more expensive life insurance policy (due to concerns on alcohol abuse or medical conditions)
Decline your application
Postpone your application
Seek out further information from you and your doctor(s) and order a blood test to aid in the informational investigation
Admission to drinking
If you received a DWI a couple of years ago, and you take a life insurance medical exam now and it comes back with high enzyme results for your liver, or you admit to drinking heavily, your insurance premium may be highly unaffordable. If, on the other hand, you admit to drinking heavily, but the tests come back that you have normal liver functions and you have no current DWIs on record, you may get standard rates.
Getting lower premiums
Depending on what red flags your tests threw up, there are different things that you can do that will get your premiums lowered:
Flat extra premium.
Recent or multiple drunk driving convictions may lead to a flat extra premium being tacked on to your regular life insurance premium. These fees will typically disappear anywhere from two to five years after your last conviction
Lessen your drinking.
You don't have to quit entirely, but even reducing your drinking to a moderate level can help you get lower premiums. Be sure to document dates and visit your doctor so he/she can monitor your progress as well. You can approach your life insurance company over a period of six months to two years, and show them your proactive approach at bettering your health.
Improve your health.
As stated above, by lessening the amount you drink, getting your liver enzymes in check, and taking better care of your body and health, you should be able to get your life insurance premium lowered. If your insurance company is unwilling to lower your rates, don't be scared to shop around-there will be another underwriter out there who is willing to look at your health improvements and give you a better quote.
When applying for life insurance, you will have to answer questions on the application related to your alcohol use. There is no actual insurance ruling on "problem drinkers" or "alcoholics," but excessive drinking can lead to certain medical conditions which will ultimately affect what insurance rate a life insurance company assigns you. It's very rare that you will be denied coverage based on the answer you give, but it may prompt a further investigation into your life and use of alcohol.
Red flags
When a life insurance company is reviewing your application and records, there are a couple of things they look for that may "red flag " you as a risk:
Liver enzymes.
If you took a blood test, your life insurance company may test a sample for liver enzymes. If levels are elevated, it may mean there is an alcohol-related medical problem. Also, if you're not a drinker, elevated levels may signal there is something seriously wrong with your health. A decision for your life insurance will be postponed until you meet with a doctor and find the reason your liver is not functioning like normal.
Drunk driving conviction.
Even if it was your first time and an isolated incident, if you were cited with a drunk driving conviction, you might get a higher premium because it's a red flag for alcohol abuse. If you get a DWI, your life insurance company will be more prone to search through your record, to see if there is more than just the one cited incident.
Attending physician's statement (APS).
An APS is a statement that your insurance company requests from your doctor or physician regarding your health.
It is used to check for anything that shows alcohol is affecting your health. It may have the same information that you wrote down in your application, but if your doctor has concerns about your drinking, they will be included as well.
Survey says
The underwriter gets to make the decision on what happens if they notice one or more of the above red flags while reviewing your life insurance application. They can either:
Issue the policy
Offer you a more expensive life insurance policy (due to concerns on alcohol abuse or medical conditions)
Decline your application
Postpone your application
Seek out further information from you and your doctor(s) and order a blood test to aid in the informational investigation
Admission to drinking
If you received a DWI a couple of years ago, and you take a life insurance medical exam now and it comes back with high enzyme results for your liver, or you admit to drinking heavily, your insurance premium may be highly unaffordable. If, on the other hand, you admit to drinking heavily, but the tests come back that you have normal liver functions and you have no current DWIs on record, you may get standard rates.
Getting lower premiums
Depending on what red flags your tests threw up, there are different things that you can do that will get your premiums lowered:
Flat extra premium.
Recent or multiple drunk driving convictions may lead to a flat extra premium being tacked on to your regular life insurance premium. These fees will typically disappear anywhere from two to five years after your last conviction
Lessen your drinking.
You don't have to quit entirely, but even reducing your drinking to a moderate level can help you get lower premiums. Be sure to document dates and visit your doctor so he/she can monitor your progress as well. You can approach your life insurance company over a period of six months to two years, and show them your proactive approach at bettering your health.
Improve your health.
As stated above, by lessening the amount you drink, getting your liver enzymes in check, and taking better care of your body and health, you should be able to get your life insurance premium lowered. If your insurance company is unwilling to lower your rates, don't be scared to shop around-there will be another underwriter out there who is willing to look at your health improvements and give you a better quote.
Dynamic Life And Auto Insurance : Auto Insurance Discounts and Their Policy
Auto insurance discounts are offered for various reasons and situations. While it is true that many insurance companies are forced to cut their prices due to stifling competition, the rate of their premiums are far from being just a product of guesswork.
Finding Auto Insurance Discounts
It would seem that finding car insurance discounts is very easy. The abundance of offers would most probably tire out an individual and make him choose out of expediency or confusion instead of careful consideration. However, one should never choose a policy simply based on potential auto insurance discounts; one should not only look at the amount, but also at the policy's coverage and conditions.
Car insurance discounts could be considered as rewards for people who possess certain characteristics, qualifications, or attainments which make them ‘fit behind the wheel. Insurance companies also favor certain types of cars, and are also conscious of how it will be used.
Personal Considerations
Those who have unblemished driving records could easily qualify for auto insurance discounts. Premiums are based on the degree of risk that an insurance company takes when accepting and insuring a client. Hence, it is only logical for these firms to offer lower rates to those whom they believe are very meticulous or conscious when it comes to their safety.
Car insurance discounts are also readily given to those who successfully complete a defensive driving program. Those who often use public transportation or participate in carpool programs will also be favorably looked upon by insurance firms.
Age is also a factor in auto insurance discounts. Students under the age of 25 who have good scholastic records could easily qualify for lower premium rates. Car insurance discounts are also available for those who are already past the age of 55 and are already retired.
Auto Insurance Discounts
Auto insurance companies offer favorable rates to persons whose cars are in good driving condition. Some firms prefer certain types or models of vehicles since they are already proven to be safer than the others. Lower rates are also given to those who own cars that are equipped with certain safety equipment or features, such as airbags, anti-theft systems, and anti-lock braking systems.
Policy-Related Cuts
Some companies provide auto insurance discounts when the policy is combined with another one, such as home insurance. Rate cuts are also given to those who have several cars and insure all of them with one company.
Auto insurance companies are very aggressive in marketing their products. It is therefore important for one to devote time and effort in carefully scrutinizing each offer in order to acquire the best deal.
Finding Auto Insurance Discounts
It would seem that finding car insurance discounts is very easy. The abundance of offers would most probably tire out an individual and make him choose out of expediency or confusion instead of careful consideration. However, one should never choose a policy simply based on potential auto insurance discounts; one should not only look at the amount, but also at the policy's coverage and conditions.
Car insurance discounts could be considered as rewards for people who possess certain characteristics, qualifications, or attainments which make them ‘fit behind the wheel. Insurance companies also favor certain types of cars, and are also conscious of how it will be used.
Personal Considerations
Those who have unblemished driving records could easily qualify for auto insurance discounts. Premiums are based on the degree of risk that an insurance company takes when accepting and insuring a client. Hence, it is only logical for these firms to offer lower rates to those whom they believe are very meticulous or conscious when it comes to their safety.
Car insurance discounts are also readily given to those who successfully complete a defensive driving program. Those who often use public transportation or participate in carpool programs will also be favorably looked upon by insurance firms.
Age is also a factor in auto insurance discounts. Students under the age of 25 who have good scholastic records could easily qualify for lower premium rates. Car insurance discounts are also available for those who are already past the age of 55 and are already retired.
Auto Insurance Discounts
Auto insurance companies offer favorable rates to persons whose cars are in good driving condition. Some firms prefer certain types or models of vehicles since they are already proven to be safer than the others. Lower rates are also given to those who own cars that are equipped with certain safety equipment or features, such as airbags, anti-theft systems, and anti-lock braking systems.
Policy-Related Cuts
Some companies provide auto insurance discounts when the policy is combined with another one, such as home insurance. Rate cuts are also given to those who have several cars and insure all of them with one company.
Auto insurance companies are very aggressive in marketing their products. It is therefore important for one to devote time and effort in carefully scrutinizing each offer in order to acquire the best deal.
Dynamic Life And Auto Insurance : Worried About Estate Taxes? Second To Die Life Insurance Policies Can Help
If you own a wealthy estate and are looking into purchasing life insurance, but worry about the estate taxes being too high for your family to take care of when you die, there is hope out there. A second to die life insurance policy, also known as survivorship life, can help. That’s because second to die life insurance policies don’t pay out until the second insured person on the policy passes away. In many cases, the death benefits from the policy are meant to be used on outstanding taxes, so with the proceeds of your policy, your beneficiaries will not have to scramble to sell the estate or your possessions, in an attempt to pay the bills once you are gone.
With second to die life insurance, if you die and leave all your worldly possessions to your spouse, they will not owe any federal estate taxes — at least not yet. Those possessions become part of the surviving spouse’s estate, which will then be taxed after he or she dies. Business partners even look into getting second to die life insurance policies, due to the estate tax ramifications involved.
Perks of a second to die policy
Cost. Since the premium of a second to die policy is based on the lives of both spouses, the life insurance company doesn’t owe anything until both parties die. This makes the premium cost significantly less than if you were to buy a traditional life insurance policy.
Qualifying is easy. It’s easy to qualify for a second to die life insurance policy rather than a traditional life insurance policy, because since the policy doesn’t pay out until both parties die, the insurance company isn’t as concerned if one person’s health isn’t 100 percent. Even if one spouse is considered “uninsurable” by a traditional life insurance company, they may still be covered in a second to die policy, depending on the insurance companies definition of “uninsurable”.
Helps build and preserve your estate. A second to die policy not only helps to build an estate and insulate it from taxes, but it also helps to preserve the estate by having the life insurance company pay the taxes once it is transferred to your heirs.
Pays estate taxes. Second to die life insurance policies can also help in the event you still owe federal estate taxes, individual retirement account income taxes or tax-deferred plans at the time of death.
Lets you have fun. Unlike whole life insurance policies, second to die allows you to buy into a variable universal life policy, which lets you invest some of your premiums in mutual funds within that policy. In doing so, you can try your luck playing the market.
The Rundown
If you’re seriously considering buying a second to die life insurance policy, be sure to fully understand the ins and outs of it. Know that if you have a small estate, or even a large one at that, you may still be able to avoid or reduce estate taxes by getting solid-estate planning advice. An estate-planning attorney may be helpful when considering a second to die policy. Also, it is important to consider and know the consequences of the “what ifs”-- What if you get divorced? What if estate tax laws change? Some companies will offer a rider to help split the policy, others don’t, so be sure to ask and fully understand what you’re signing into before you actually sign the contract.
With second to die life insurance, if you die and leave all your worldly possessions to your spouse, they will not owe any federal estate taxes — at least not yet. Those possessions become part of the surviving spouse’s estate, which will then be taxed after he or she dies. Business partners even look into getting second to die life insurance policies, due to the estate tax ramifications involved.
Perks of a second to die policy
Cost. Since the premium of a second to die policy is based on the lives of both spouses, the life insurance company doesn’t owe anything until both parties die. This makes the premium cost significantly less than if you were to buy a traditional life insurance policy.
Qualifying is easy. It’s easy to qualify for a second to die life insurance policy rather than a traditional life insurance policy, because since the policy doesn’t pay out until both parties die, the insurance company isn’t as concerned if one person’s health isn’t 100 percent. Even if one spouse is considered “uninsurable” by a traditional life insurance company, they may still be covered in a second to die policy, depending on the insurance companies definition of “uninsurable”.
Helps build and preserve your estate. A second to die policy not only helps to build an estate and insulate it from taxes, but it also helps to preserve the estate by having the life insurance company pay the taxes once it is transferred to your heirs.
Pays estate taxes. Second to die life insurance policies can also help in the event you still owe federal estate taxes, individual retirement account income taxes or tax-deferred plans at the time of death.
Lets you have fun. Unlike whole life insurance policies, second to die allows you to buy into a variable universal life policy, which lets you invest some of your premiums in mutual funds within that policy. In doing so, you can try your luck playing the market.
The Rundown
If you’re seriously considering buying a second to die life insurance policy, be sure to fully understand the ins and outs of it. Know that if you have a small estate, or even a large one at that, you may still be able to avoid or reduce estate taxes by getting solid-estate planning advice. An estate-planning attorney may be helpful when considering a second to die policy. Also, it is important to consider and know the consequences of the “what ifs”-- What if you get divorced? What if estate tax laws change? Some companies will offer a rider to help split the policy, others don’t, so be sure to ask and fully understand what you’re signing into before you actually sign the contract.
Dynamic Life And Auto Insurance : Using Term Life Insurance Quotes to your Advantage
There are many things that could happen to a person over the course of his life. In a matter of months, days, hours or minutes, everything could change and lives could make a sharp turn to uncertainty. A lot could happen in a few seconds and everything could change. This is why safety has always been a priority for people.
They know that a lot of negative things may occur and the only way that they can minimize these problems is to be prepared as much as possible. This is why people nowadays purchase term life insurance policies. A term life insurance policy is a life insurance policy that runs for a certain, agreed upon term. People who want to be more in control of their life insurance policies purchase term life insurance policies so that they can easily change policies for a different one, possibly with a different insurance company, if they feel that they are not satisfied with the present one.
Term life insurance policies cost a substantial amount and if something does happen during the term, you would want to be able to rely on that policy to deliver what the insurer promised to deliver. It is for this reason that it is also important to gather as many term life insurance quotes as possible and analyze them well before purchasing a term life insurance policy.
A person who purchases a term life insurance policy is not only protecting themselves with the policy but also their families. This is why people need to be very careful when analyzing term life insurance quotes. It is important to have these term life insurance quotes in order to be able to compare and contrast the many different term life insurance quotes and be able to determine which one is best for them. Some term life insurance policies may seem good but one must look at the specifics of the policies. The costs may not be appropriate and some of the risks that you are paying to be protected against may not be risks in your case. It is quite possible to get the same kind of term life insurance policy for lower premiums.
It is also important to make sure that you are purchasing a term life insurance policy from a reputable life insurance companies. There are many insurance companies already and this fact should be used t your advantage. The more insurance companies there are means that competition in the business s stiff. Stiff competition more or less means better products and packages and the same holds true for insurance companies. You may be able to find term life insurance quotes that are more to your liking than others.
Getting the term life insurance policy from reputable companies is important because you need to be able to rely on them in the future. The more reputable ones have a lot more at stake than new ones and would therefore be able to give you the better packages that would match what you want and need. So if you are going to get term life insurance quotes, get them from the reputable insurance companies and analyze them well.
They know that a lot of negative things may occur and the only way that they can minimize these problems is to be prepared as much as possible. This is why people nowadays purchase term life insurance policies. A term life insurance policy is a life insurance policy that runs for a certain, agreed upon term. People who want to be more in control of their life insurance policies purchase term life insurance policies so that they can easily change policies for a different one, possibly with a different insurance company, if they feel that they are not satisfied with the present one.
Term life insurance policies cost a substantial amount and if something does happen during the term, you would want to be able to rely on that policy to deliver what the insurer promised to deliver. It is for this reason that it is also important to gather as many term life insurance quotes as possible and analyze them well before purchasing a term life insurance policy.
A person who purchases a term life insurance policy is not only protecting themselves with the policy but also their families. This is why people need to be very careful when analyzing term life insurance quotes. It is important to have these term life insurance quotes in order to be able to compare and contrast the many different term life insurance quotes and be able to determine which one is best for them. Some term life insurance policies may seem good but one must look at the specifics of the policies. The costs may not be appropriate and some of the risks that you are paying to be protected against may not be risks in your case. It is quite possible to get the same kind of term life insurance policy for lower premiums.
It is also important to make sure that you are purchasing a term life insurance policy from a reputable life insurance companies. There are many insurance companies already and this fact should be used t your advantage. The more insurance companies there are means that competition in the business s stiff. Stiff competition more or less means better products and packages and the same holds true for insurance companies. You may be able to find term life insurance quotes that are more to your liking than others.
Getting the term life insurance policy from reputable companies is important because you need to be able to rely on them in the future. The more reputable ones have a lot more at stake than new ones and would therefore be able to give you the better packages that would match what you want and need. So if you are going to get term life insurance quotes, get them from the reputable insurance companies and analyze them well.
Dynamic Life And Auto Insurance : How much Life Insurance do I need?
Life Insurance Policies amounts are different for everyone. There are essentially two factors that come into play when purchasing life insurance. The two factors are how much money would it take for your family to maintain the same standard of living and how much can you afford to pay per month for your premium.
Try our Life Insurance Calculator
How much would it take for my family to maintain the same standard of living?
Your Life Insurance Policy should greatly depend on how much money your family will need to maintain the same standard of living. This means that there is a certain monthly or yearly income needed to pay for minor and major expenses such a mortgage, cars and Education. Depending on your situation your life insurance needs will differ. If you have children that are young and have not attended College assume they will need funding. Calculate the approximate costs of College and add this into your overall expenses. In addition to College or Education costs calculate your mortgage and car payments into your expense report. Finally, calculate any additional expenses needed to maintain the same standard of life. Depending on your investment knowledge and death benefit received one can usually shop around and find a financial advisor they are comfortable with. A financial advisor should be able to place your money in the market and receive at least 5% returns per year. More often, returns can total 8%+ depending on investment amount. Approximate your taxes on the returns at 35% and you will have your yearly income. Divide the yearly income by 12 and this is your montly income to pay expenses.
For example, your family has $8,000 in expenses per month. You will need approximately $3,000,000 in coverage. This is likely a conservative amount of life insurance as $3,000,000 earning 5% interest yearly equates to $150,000 in yearly income. With taxes taken out your yearly income would be approximately $97,000 or $8,000 per month.
How much can I afford to spend on Life Insurance?
One should only consider an amount of Life Insurance where the yearly premium is easily attainable and not reallocated from another major expense. Be smart when purchasing your life insurance policy. Know your limits, as if you purchase a policy and cancel it due to the fact that you cannot afford the payments then you will receive $0 back from that purchase and you will not receive any for your death benefit.
Find that happy medium where you are comfortable with the cost of the premium and the amount of coverage it provides to sustain the same standard of living for your family.
Try our Life Insurance Calculator
How much would it take for my family to maintain the same standard of living?
Your Life Insurance Policy should greatly depend on how much money your family will need to maintain the same standard of living. This means that there is a certain monthly or yearly income needed to pay for minor and major expenses such a mortgage, cars and Education. Depending on your situation your life insurance needs will differ. If you have children that are young and have not attended College assume they will need funding. Calculate the approximate costs of College and add this into your overall expenses. In addition to College or Education costs calculate your mortgage and car payments into your expense report. Finally, calculate any additional expenses needed to maintain the same standard of life. Depending on your investment knowledge and death benefit received one can usually shop around and find a financial advisor they are comfortable with. A financial advisor should be able to place your money in the market and receive at least 5% returns per year. More often, returns can total 8%+ depending on investment amount. Approximate your taxes on the returns at 35% and you will have your yearly income. Divide the yearly income by 12 and this is your montly income to pay expenses.
For example, your family has $8,000 in expenses per month. You will need approximately $3,000,000 in coverage. This is likely a conservative amount of life insurance as $3,000,000 earning 5% interest yearly equates to $150,000 in yearly income. With taxes taken out your yearly income would be approximately $97,000 or $8,000 per month.
How much can I afford to spend on Life Insurance?
One should only consider an amount of Life Insurance where the yearly premium is easily attainable and not reallocated from another major expense. Be smart when purchasing your life insurance policy. Know your limits, as if you purchase a policy and cancel it due to the fact that you cannot afford the payments then you will receive $0 back from that purchase and you will not receive any for your death benefit.
Find that happy medium where you are comfortable with the cost of the premium and the amount of coverage it provides to sustain the same standard of living for your family.
Dynamic Life And Auto Insurance : 12 Tips to Help You Save on Car Insurance
Most people complain about the cost of their auto insurance hardly surprising, given that a typical policy costs at least several hundred dollars a year. Depending on your age, driving record, and other factors, your annual premium can be significantly more than that. So how can you lower your premium and save yourself money?
If you own a car and drive it, going without insurance is generally not an option. In most states, you are required by law to purchase a minimum amount of liability coverage. And you should probably have more than just the bare minimum if you want to provide yourself with adequate protection. There are steps you can take, however, to reduce your auto insurance costs without having to cancel your policy. Some or all of these steps may be appropriate for you, depending on your circumstances.
Specific ways to save money on auto insurance:
1. Shop around.
One of your first steps should be to shop around. A particularly good time to investigate your alternatives is when your current policy is about to be up for renewal, especially if you find that your premium has gone up. You may be surprised to learn that auto insurance premiums for the exact same coverage on the same car can vary widely (by hundreds of dollars) between different insurers, even in states that regulate auto insurance rates.
2. Increase your deductible.
For many people, raising the deductible on their auto insurance is a good way to cut the cost of the policy. Sometimes you can reduce your annual premium by 10 percent or more if you increase your deductible from, say, $250 to $500. If you do this, however, make sure you have the financial resources to handle the larger deductible when the time comes.
3. Keep an eye on your credit report.
Your credit history is an important factor for most auto insurance companies. Many studies have shown a correlation between your credit history and the risk to an insurance company. Paying your bills on time and maintaining a good credit history will allow you to enjoy lower auto insurance rates.
4. Drive less.
If you drive less than a certain number of miles in a year (e.g., 7,500), you may qualify for a low-mileage discount. If your insurer offers this discount, try to limit your driving as much as possible. If you commute to work, use public transportation instead of driving. When you go away on vacation, fly or take the train.
5. Don't use your car for business purposes.
Since work-related driving generally subjects you to higher premiums than pleasure driving, it may be in your best interest to stop using your car for business purposes.
6. Drive more safely.
You may be eligible for a price break on your policy if you maintain a clean driving record for a specified period (usually three years). A clean driving record generally means no accidents, moving violations, drunk driving convictions, etc., during that period. The best way to qualify for the applicable discount is to drive carefully and defensively at all times.
7. Buy a low-profile car.
Cars are rated on a risk scale for auto insurance purposes. In general, sports cars and other high-performance, flashy vehicles are classified as higher risks because they are common targets for thieves and vandals, and because statistically, the people who own them tend to drive more recklessly. If you own such a vehicle, you will likely pay a higher premium than if you owned a station wagon, sedan, or other low-risk vehicle.
8. Move.
If you live in a rural community with little crime and traffic congestion, your premium will generally be lower than if you live in an urban area where your car is more likely to be stolen, vandalized, or involved in an accident. Granted, you shouldn't move just to cut your auto insurance costs. However, this may be one of many factors in your decision if you're thinking about relocating from the country to the city.
9. Keep your car in a garage.
Cars parked in garages are less likely to be stolen, vandalized, or struck by other vehicles. Using a garage to store your car may entitle you to a slight premium reduction.
10. Have safety/anti-theft devices installed.
You may receive discounts on your insurance if your car is equipped with one or more of the following options: anti-lock brakes, automatic seat belts, and airbags. Similarly, anti-theft devices such as car alarms and tracking systems (e.g., Lojack) may also get you a discount because they reduce the chances of your car being stolen or vandalized.
11. Inquire about multifamily/multipolicy discounts.
You may receive a discount from your insurance company if you buy more than one type of insurance through that same company (e.g., auto and homeowner's). A discount may also apply to your auto insurance if you insure multiple cars under the same policy or with the same company.
12. Other discounts
Other discounts may be available if you meet certain criteria. Examples may include discounts for taking a defensive driving course, being a AAA member or staying with the same auto insurance company for a number of years. These discounts vary by company.
If you own a car and drive it, going without insurance is generally not an option. In most states, you are required by law to purchase a minimum amount of liability coverage. And you should probably have more than just the bare minimum if you want to provide yourself with adequate protection. There are steps you can take, however, to reduce your auto insurance costs without having to cancel your policy. Some or all of these steps may be appropriate for you, depending on your circumstances.
Specific ways to save money on auto insurance:
1. Shop around.
One of your first steps should be to shop around. A particularly good time to investigate your alternatives is when your current policy is about to be up for renewal, especially if you find that your premium has gone up. You may be surprised to learn that auto insurance premiums for the exact same coverage on the same car can vary widely (by hundreds of dollars) between different insurers, even in states that regulate auto insurance rates.
2. Increase your deductible.
For many people, raising the deductible on their auto insurance is a good way to cut the cost of the policy. Sometimes you can reduce your annual premium by 10 percent or more if you increase your deductible from, say, $250 to $500. If you do this, however, make sure you have the financial resources to handle the larger deductible when the time comes.
3. Keep an eye on your credit report.
Your credit history is an important factor for most auto insurance companies. Many studies have shown a correlation between your credit history and the risk to an insurance company. Paying your bills on time and maintaining a good credit history will allow you to enjoy lower auto insurance rates.
4. Drive less.
If you drive less than a certain number of miles in a year (e.g., 7,500), you may qualify for a low-mileage discount. If your insurer offers this discount, try to limit your driving as much as possible. If you commute to work, use public transportation instead of driving. When you go away on vacation, fly or take the train.
5. Don't use your car for business purposes.
Since work-related driving generally subjects you to higher premiums than pleasure driving, it may be in your best interest to stop using your car for business purposes.
6. Drive more safely.
You may be eligible for a price break on your policy if you maintain a clean driving record for a specified period (usually three years). A clean driving record generally means no accidents, moving violations, drunk driving convictions, etc., during that period. The best way to qualify for the applicable discount is to drive carefully and defensively at all times.
7. Buy a low-profile car.
Cars are rated on a risk scale for auto insurance purposes. In general, sports cars and other high-performance, flashy vehicles are classified as higher risks because they are common targets for thieves and vandals, and because statistically, the people who own them tend to drive more recklessly. If you own such a vehicle, you will likely pay a higher premium than if you owned a station wagon, sedan, or other low-risk vehicle.
8. Move.
If you live in a rural community with little crime and traffic congestion, your premium will generally be lower than if you live in an urban area where your car is more likely to be stolen, vandalized, or involved in an accident. Granted, you shouldn't move just to cut your auto insurance costs. However, this may be one of many factors in your decision if you're thinking about relocating from the country to the city.
9. Keep your car in a garage.
Cars parked in garages are less likely to be stolen, vandalized, or struck by other vehicles. Using a garage to store your car may entitle you to a slight premium reduction.
10. Have safety/anti-theft devices installed.
You may receive discounts on your insurance if your car is equipped with one or more of the following options: anti-lock brakes, automatic seat belts, and airbags. Similarly, anti-theft devices such as car alarms and tracking systems (e.g., Lojack) may also get you a discount because they reduce the chances of your car being stolen or vandalized.
11. Inquire about multifamily/multipolicy discounts.
You may receive a discount from your insurance company if you buy more than one type of insurance through that same company (e.g., auto and homeowner's). A discount may also apply to your auto insurance if you insure multiple cars under the same policy or with the same company.
12. Other discounts
Other discounts may be available if you meet certain criteria. Examples may include discounts for taking a defensive driving course, being a AAA member or staying with the same auto insurance company for a number of years. These discounts vary by company.
Dynamic Life And Auto Insurance : When should I update my Life Insurance Policy?
There are many reasons to update an existing Life Insurance Policy. Your life may have changed dramatically since you first purchased your life insurance policy. Contact your life insurance agent if your life has changed in any of the ways we listed below.
Major Purchase: If you make a major purchase you should contact your life insurance agent to set up a review and possibly update your life insurance policy. There are a couple items we consider major purchases. An automobile, swimming pool or boat is not considered a major purchase and should not be reflected within your life insurance review. A major purchase is a new home, refinancing your home, and a College Education. Purchasing a home or a College Education is a substantial investment and should be covered in your death benefit to ensure your family isn't burdened with the expenses.
Relating to a College Education when you have children you should consider a Life Insurance Policy review to ensure their College Tuitions are covered with your death benefit.
Marriage or Divorce: If you get married or divorced you should contact your life insurance agent to possibly change the policy figures but more likely to change beneficiaries. Your life will change when you get married or divorced so in any case of a life changing event you should contact your life insurance agent.
Other life changing events: Any event that will significantly alter your life like an ill family member, changes to you or your families health or coming into a decent amount of money be it professionally or by inheritance. A rule of thumb could be to consider a life insurance policy review when your life has seen a major change.
If you forsee the change in the near future it is better to act now than to wait so be sure you to contact your agent in a timely manner.
Major Purchase: If you make a major purchase you should contact your life insurance agent to set up a review and possibly update your life insurance policy. There are a couple items we consider major purchases. An automobile, swimming pool or boat is not considered a major purchase and should not be reflected within your life insurance review. A major purchase is a new home, refinancing your home, and a College Education. Purchasing a home or a College Education is a substantial investment and should be covered in your death benefit to ensure your family isn't burdened with the expenses.
Relating to a College Education when you have children you should consider a Life Insurance Policy review to ensure their College Tuitions are covered with your death benefit.
Marriage or Divorce: If you get married or divorced you should contact your life insurance agent to possibly change the policy figures but more likely to change beneficiaries. Your life will change when you get married or divorced so in any case of a life changing event you should contact your life insurance agent.
Other life changing events: Any event that will significantly alter your life like an ill family member, changes to you or your families health or coming into a decent amount of money be it professionally or by inheritance. A rule of thumb could be to consider a life insurance policy review when your life has seen a major change.
If you forsee the change in the near future it is better to act now than to wait so be sure you to contact your agent in a timely manner.
Dynamic Life And Auto Insurance : Things To Consider Before You Sell Your Life Insurance Policy
Everything has a price and when you need money, selling your life insurance may sound like a good idea—especially if you are extremely sick because you can generally get anywhere from 50 to 80 percent back off the face value. However, although it may sound like a viable option, it’s important to keep in mind why you bought the life insurance policy in the first place!
Things to consider
When a viatical company is interested in buying your life insurance policy and they know you are ill, they will demand access to your medical records. Ultimately, the buyer makes the most money off of your policy the longer you are expected to live. Any and all details about your medical history and condition will be run over with a fine-toothed comb. Don't forget, they will keep track of your progress, many times using little to no discretion, by calling you on the phone, mailing out postcards, or getting in contact with you through a pre-determined means of communication. To sum it up, anyone (creditors included) will have open access to view your transaction.
Below are tips to consider before you sell your life insurance policy:
Check into alternatives. If you need cash quickly, there may be other ways to get it, without having to sell your life insurance policy to a viatical settlement company. Check with your current life insurance company and see if they offer an accelerated death benefit. You may be charged a fee for acting on it, but at least you will be doing business with a company you know and trust.
Talk it over with your beneficiaries. It’s a good idea to discuss your thoughts on selling your life insurance with your beneficiaries. If they are depending on your death benefits to pay for the cost of your outstanding medical treatment, they will need to know.
Consult your accountant, financial planner or attorney. There are many financial aspects you should find out before selling your life insurance policy. Ask if the proceeds will be tax-free and what kind of impact it will have on probate and estate settlements. According to the Health Insurance Portability and Accountability Act, if the insured is terminally ill the settlement is not subject to federal income taxes; but if the insured is mildly ill or healthy, the settlement will be taxed as a capital gain.
Check on viatical licensing or regulations. Your state insurance department will be able to tell you what laws there are for viatical companies or viatical brokers, such as the requirement for them to be licensed.
Affects on public assistance. Public assistance is typically based on financial need, so if you go through a viatical life settlement, you may hinder the amount of assistance you get, as well as opening yourself up to creditors—because viatical life settlement proceeds are fair game in the financial world.
Shop around for viatical companies. Companies differ on the amount of payout they offer for viatical life settlements, so be sure to shop around and compare. The Viatical Association of America recommends getting at least three different offers, so you can compare and see what the best and most beneficial payout will be.
Escrow accounts. For legitimate viatical companies, getting a request to have an escrow account opened and ready when you accept the settlement is no big deal. But if the company you are going to sell your account to denies your request, it is right to assume that they may be fraudulent—because the denial of the account is a red flag that the money may not be there to cover your offer.
Things to consider
When a viatical company is interested in buying your life insurance policy and they know you are ill, they will demand access to your medical records. Ultimately, the buyer makes the most money off of your policy the longer you are expected to live. Any and all details about your medical history and condition will be run over with a fine-toothed comb. Don't forget, they will keep track of your progress, many times using little to no discretion, by calling you on the phone, mailing out postcards, or getting in contact with you through a pre-determined means of communication. To sum it up, anyone (creditors included) will have open access to view your transaction.
Below are tips to consider before you sell your life insurance policy:
Check into alternatives. If you need cash quickly, there may be other ways to get it, without having to sell your life insurance policy to a viatical settlement company. Check with your current life insurance company and see if they offer an accelerated death benefit. You may be charged a fee for acting on it, but at least you will be doing business with a company you know and trust.
Talk it over with your beneficiaries. It’s a good idea to discuss your thoughts on selling your life insurance with your beneficiaries. If they are depending on your death benefits to pay for the cost of your outstanding medical treatment, they will need to know.
Consult your accountant, financial planner or attorney. There are many financial aspects you should find out before selling your life insurance policy. Ask if the proceeds will be tax-free and what kind of impact it will have on probate and estate settlements. According to the Health Insurance Portability and Accountability Act, if the insured is terminally ill the settlement is not subject to federal income taxes; but if the insured is mildly ill or healthy, the settlement will be taxed as a capital gain.
Check on viatical licensing or regulations. Your state insurance department will be able to tell you what laws there are for viatical companies or viatical brokers, such as the requirement for them to be licensed.
Affects on public assistance. Public assistance is typically based on financial need, so if you go through a viatical life settlement, you may hinder the amount of assistance you get, as well as opening yourself up to creditors—because viatical life settlement proceeds are fair game in the financial world.
Shop around for viatical companies. Companies differ on the amount of payout they offer for viatical life settlements, so be sure to shop around and compare. The Viatical Association of America recommends getting at least three different offers, so you can compare and see what the best and most beneficial payout will be.
Escrow accounts. For legitimate viatical companies, getting a request to have an escrow account opened and ready when you accept the settlement is no big deal. But if the company you are going to sell your account to denies your request, it is right to assume that they may be fraudulent—because the denial of the account is a red flag that the money may not be there to cover your offer.
Dynamic Life and Auto Insurance : 7 Tips To Reduce Your Car Insurance Costs
With the cost of car insurance becoming more and more of an issue for the average American family, there are increasing numbers of people looking for cheap car insurance. But although it is possible to find cheap car insurance, the question remains, is it worth buying?
Everyone knows that car insurance companies are not all equal. Cheap car insurance is wonderful when paying the bill, but make a mistake on the company you select and you could find that the cheap car insurance policy that you found may turn into a nightmare. Cheap car insurance may not turn out to be so attractive when making a claim.
So if you have found a discount car insurance broker don't just take the cheapest quote that you get. You need to find out a little about the insurance company that is offering the cheap car insurance rates.
And there's ways to reduce the cost of your car insurance even with the best of companies. Here are some tips for those looking for cheap car insurance to help reduce the cost of car insurance without compromising other things.
7 Cheap Car Insurance Tips
1. Look at your deductible amount. This is the amount that you pay first out of any claim. The cost of your policy is directly related to this amount. Many people, particularly those who have had their insurance policy for a long time, have never considered whether they ought to vary their deductible. If you have a good driving record and are prepared to increase the risk of paying a larger amount in the event of a (hopefully unlikely) claim you can save money by increasing your deductible.
2. Have a look at the type of car you drive. Certain types of cars attract higher car insurance rates. Cars such as sports cars and also certain makes and models that are prime theft candidates cost more to insure. If you are buying a car then find out which makes and models these are before you buy.
3. Drive carefully. Although it sounds a little trite to say it, your car insurance cost is a factor of your risk profile. You won't get cheap car insurance if you have had 3 speeding fines and 2 accidents in the last year. These things are all taken into account and you should take care with how you drive. It all adds up onto your bill. There are big safe driver discounts available.
4. Considering installing safety and anti theft devices in your car. Again these affect your risk profile. If you have a car that is safer and less at risk of theft it should be cheaper to insure. And if you have a car with certain safety devices now check that your insurance company is aware of these, if not tell them.
5. Look at your policy when it comes to renewal time, don't just pay. There are some things that you can vary in your policy that will affect the cost. Often there are some things there which duplicate other insurance that you may have that can be eliminated. Be critical, look carefully and ask questions about all these before you renew your policy.
6. Have a look at who your other insurers are. Many insurers offer a discount for multiple policies. If you insure your house with a certain company then ring them up and find out if they do car insurance. Get a quote from them. Find out what discounts they offer.
7. Find a good online discount car insurance broker before renewing. The internet is a fabulous resource. Use it. There are all sorts of discount insurance brokers online where you can get fast quotes from a wide range of companies. Don't just settle for the same company you always use. Car insurance rates vary all the time. Always get comparable quotes before renewing any policy.
Everyone knows that car insurance companies are not all equal. Cheap car insurance is wonderful when paying the bill, but make a mistake on the company you select and you could find that the cheap car insurance policy that you found may turn into a nightmare. Cheap car insurance may not turn out to be so attractive when making a claim.
So if you have found a discount car insurance broker don't just take the cheapest quote that you get. You need to find out a little about the insurance company that is offering the cheap car insurance rates.
And there's ways to reduce the cost of your car insurance even with the best of companies. Here are some tips for those looking for cheap car insurance to help reduce the cost of car insurance without compromising other things.
7 Cheap Car Insurance Tips
1. Look at your deductible amount. This is the amount that you pay first out of any claim. The cost of your policy is directly related to this amount. Many people, particularly those who have had their insurance policy for a long time, have never considered whether they ought to vary their deductible. If you have a good driving record and are prepared to increase the risk of paying a larger amount in the event of a (hopefully unlikely) claim you can save money by increasing your deductible.
2. Have a look at the type of car you drive. Certain types of cars attract higher car insurance rates. Cars such as sports cars and also certain makes and models that are prime theft candidates cost more to insure. If you are buying a car then find out which makes and models these are before you buy.
3. Drive carefully. Although it sounds a little trite to say it, your car insurance cost is a factor of your risk profile. You won't get cheap car insurance if you have had 3 speeding fines and 2 accidents in the last year. These things are all taken into account and you should take care with how you drive. It all adds up onto your bill. There are big safe driver discounts available.
4. Considering installing safety and anti theft devices in your car. Again these affect your risk profile. If you have a car that is safer and less at risk of theft it should be cheaper to insure. And if you have a car with certain safety devices now check that your insurance company is aware of these, if not tell them.
5. Look at your policy when it comes to renewal time, don't just pay. There are some things that you can vary in your policy that will affect the cost. Often there are some things there which duplicate other insurance that you may have that can be eliminated. Be critical, look carefully and ask questions about all these before you renew your policy.
6. Have a look at who your other insurers are. Many insurers offer a discount for multiple policies. If you insure your house with a certain company then ring them up and find out if they do car insurance. Get a quote from them. Find out what discounts they offer.
7. Find a good online discount car insurance broker before renewing. The internet is a fabulous resource. Use it. There are all sorts of discount insurance brokers online where you can get fast quotes from a wide range of companies. Don't just settle for the same company you always use. Car insurance rates vary all the time. Always get comparable quotes before renewing any policy.
Dynamic Life and Auto Insurance : Seven Tips To Finding The Right Commercial Auto Policy
Finding a good deal on commercial auto insurance is about more than finding the lowest rate-it's about finding the best all-around coverage to suit your company's needs.
Understanding what coverages and service options are available is the first step toward making better, more informed decisions so that you and your business are properly protected. Here are some tips from the experts at Progressive to help you find the right coverage, service and price:
• Know the company you're dealing with-and its reputation for handling claims. Understand that you may pay more for "cheaper" coverage in the long run if the company lacks experience handling commercial auto claims. In business, vehicles need to be on the road-or you lose money. Insurance companies that don't specialize in commercial auto coverage often don't have their own claims representatives handling the process, so it may take longer to get vehicles back in service.
• Look for discounts. Before initiating a quote for a policy, gather your company's loss and financial records. This information could help you save a lot of money. You may qualify for discounts if you've carried increased liability limits in the past, if your employee base consists of experienced drivers or if your company's credit rating is good.
• Don't let your coverage lapse. Proof of prior insurance is important, so never let your insurance policy lapse. If you do, you will most certainly pay more for your next policy.
• Ask for referrals. Find out where colleagues in your business have found the best coverage and the best service. They may be able to refer you to an agent or company that really understands your business.
• Check driving records before hiring. If they'll be driving a company vehicle, be sure to screen the Motor Vehicle Report (MVR) for every potential hire.
• Update the value of your equipment. If you've added, upgraded or phased out equipment, you'll want your policy to reflect the true value of your fleet. This ensures you have adequate coverage where you need it and that you're not paying for coverage you no longer need.
• Check the options for managing your policy. See if you can handle routine tasks online and over the phone instead of having to visit an agency or mail in forms. It saves time-and in business, time is money.
Understanding what coverages and service options are available is the first step toward making better, more informed decisions so that you and your business are properly protected. Here are some tips from the experts at Progressive to help you find the right coverage, service and price:
• Know the company you're dealing with-and its reputation for handling claims. Understand that you may pay more for "cheaper" coverage in the long run if the company lacks experience handling commercial auto claims. In business, vehicles need to be on the road-or you lose money. Insurance companies that don't specialize in commercial auto coverage often don't have their own claims representatives handling the process, so it may take longer to get vehicles back in service.
• Look for discounts. Before initiating a quote for a policy, gather your company's loss and financial records. This information could help you save a lot of money. You may qualify for discounts if you've carried increased liability limits in the past, if your employee base consists of experienced drivers or if your company's credit rating is good.
• Don't let your coverage lapse. Proof of prior insurance is important, so never let your insurance policy lapse. If you do, you will most certainly pay more for your next policy.
• Ask for referrals. Find out where colleagues in your business have found the best coverage and the best service. They may be able to refer you to an agent or company that really understands your business.
• Check driving records before hiring. If they'll be driving a company vehicle, be sure to screen the Motor Vehicle Report (MVR) for every potential hire.
• Update the value of your equipment. If you've added, upgraded or phased out equipment, you'll want your policy to reflect the true value of your fleet. This ensures you have adequate coverage where you need it and that you're not paying for coverage you no longer need.
• Check the options for managing your policy. See if you can handle routine tasks online and over the phone instead of having to visit an agency or mail in forms. It saves time-and in business, time is money.
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