Category Archives: Insurance

Common Auto Insurance Questions for Households

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Common Auto Insurance Questions for Households

There are many questions for households need to consider before purchasing auto insurance. Even with a load of information available on the net, sometimes it’s best to wise up and ask the following questions directly to your insurance agent; after all, not all agencies will do things the exact same way.

Are Minimum Limits Adequate?

While every situation is unique and every individual needs to decide the best route to take for specific situations, minimum limits do nothing more than satisfying the basic requirements. For some people who is enough, and for other people, it is important to have more coverage.

While you might think that $25,000 sounds like a lot of money, if you get into a multiple care pileup, your limit might be exhausted before you are even done with the second car. When you consider some of the car insurance states that have minimum limits as low as $15,000 as listed by Cars.com, it’s hard to truly feel the security of insurance coverage with a measly minimum limit in place.

Do I Want My Teen on My Policy?

This question comes up a lot, and the short answer is: it depends. On one hand, you could have a teen who has no experience, isn’t eligible for a good grades discounts, and drives their own brand new car. In this case, adding your team would be extremely costly.

On the other hand, your teen could wind up not having their own car, so they are only insured for liability. You could also make them take a driver’s safety course in addition to making them work harder toward a good grades discount. And if the car they do occasionally drive is used with great safety features, they’ll be much cheaper (while still expensive overall) to add to your policy.

If you want to crunch some numbers yourself without getting on the phone to talk to an agent, take advantage of sites like CoverHound, which streamline the comparing car insurance quotes process. Simply input different scenarios into their quote generator to know how you can save the most money.

Do GPS Tracking Systems Work?

In short, GPS tracking systems work well. Even though every company is coming out with their own version, and even though many are frightened about the prospect of giving up their privacy, this technology can actually wind up tracking your driving behavior and giving you a very strong discount if you prove that you practice safe driving habits. For the most part, the only things that the car systems will track is braking and accelerating behavior, length of drives, the time of day that you drive, and how often you drive. All of these things can make your rates go down, and according to Marketplace, it is already happening for many people. The point is when you get a car insurance rate you are paying what an average driver would pay. However, you just need to show that your driving would put you in a class that is better than average.

Does It Really Make Sense to Bundle?

In almost every case for this question, the answer is yes. You need to simply think about the idea of administrative costs and the amount of time it would take you to call two separate companies, write out two separate checks, file the paperwork for two separate policies, and so on. Then, when you think about the time it would take to combine that all into one task and one policy, you can see why companies encourage bundling. They can save on administrative tasks so that you can save on your overall premium payments. Everybody wins.

There are always questions to ask, and chances are good that there will be many more down the line as well. The important thing to do is to take the time and look into what you can save just by doing certain things. Insurance is a bit confusing, but you can also save a lot of money if you use the right resources.

Thanks,

Chase

Which types of people and groups are not eligible for life insurance?

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I’ve recently read some interesting information about the types of people and groups that are not eligible for life insurance that I’d like to cover with you!

Are there any Groups of People who can’t get Life Insurance?

You may be wondering if you’re within a section of the population that may struggle to find a life insurance provision. It can be difficult for some people to get a plan, and potentially expensive, but there are provisions in place for some groups who find it difficult to get private life insurance.

It’s often said that you can only buy insurance when you don’t need it but that’s not quite true. Buying a policy can be difficult at times but it’s often possible if you go to the right place.

Life insurance if you have a chronic health problem

If you’re suffering from a serious chronic health problem such as cancer it’s not always easy to find someone willing to insure you. As with any insurance, providers want to limit the potential risks involved in providing a policy. It stands to reason that anyone who may have a significantly shorter life expectancy presents a risk they may not want to take.

That doesn’t mean you are totally excluded from getting life insurance if you are suffering from a serious illness. There are certain insurers who specialize in providing policies to people who struggle to find life insurance elsewhere; although premiums can be high.

It’s also quite common for people to go to work for a certain employer in order to be covered by an employer provided group life insurance.

What about the armed forces?

For obvious reasons it’s not easy to get life insurance if you’re a serving member of the armed forces; it’s a high risk occupation which can also present a high risk to insurance providers if they award a policy.

There is a solution to the problem for those people who want to acquire a plan to provide for their famines should they die. Service members Group Life Insurance is provided specifically for this purpose by the Department of Veterans Affairs. It’s a low cost provision for a group of people who potentially have an increased need for life insurance cover.

If you’re a prisoner what happens?

If you’re going to be incarcerated, or stand a chance of being,you may wonder what happens about life insurance cover. The answer is that there are no regulatory restrictions but insurance providers veer away from providing life insurance plans to those in prison. The main reasons for this are the lack of ability to do any proper health checks and the lack of access that inmates have to their finances.

The situation with regards to those who have a life insurance plan before they are imprisoned is different. They continue to be insured as long as they carry on paying the required premiums. So if you are imprisoned you can keep a policy that you already have but you are not going to be able to get a new policy once you are actually in prison.

Bests,

Chase

Tick, Tick, Boom: Insuring the Most Explosive Jobs

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He thought to himself why on earth they’d even spend the millions to research and develop a robot that did this when he still had to sometimes. They could have given him a raise instead. Tick, tick, tick. Dozens or hundreds of lives depend on the decision our hero makes under pressure. Tick, tick, tick.

The deafening silence of a terminally tense atmosphere echoes through his mind like a freight train in the desert night. He pauses briefly to mop stress from his forehead with the back of his tactical glove as he stares intently at the deadly device before him and the timer coldly counting down to his demise. You can find out more at https://www.gio.com.au/personal-life-insurance/life-protection-insurance.

30 seconds. He knows that his life could come to a violent end in mere moments, but can only think of his loving wife and 3 beautiful children at home eating dinner and awaiting his timely arrival in vain yet again. 15 seconds. He briefly laments not becoming a sketch artist instead for their sake, but the rapidly evaporating time frame affords him little time to reconsider his life choices. 10 seconds. He still finds himself less than totally sure which snip leads to salvation and which cancels Christmas for him permanently. Red wire or green wire? One second.

Let’s pause time to look at the life of our hero. A member of the regional bomb squad, he is called upon in the most volatile situations imaginable to use his very particular set of skills to save lives and property on what is often a massive scale. When he succeeds, his rich reward is a beer with the rest of the unit and the smiling faces of his family. If he ever fails, it will be the first and last time. In such a high-stakes profession, the reality is that he must ensure his family’s security in the event that he ever does.

Luckily, it is possible for even a member of the bomb squad to get comprehensive coverage. Although diffusing bombs is obviously a dangerous job, insurance companies look at the official occupational statistics as opposed to the actual perceived element of danger when evaluating potential policyholders. Although any job with the word “bomb” in the title is pretty dangerous, others such as commercial fishing, construction and logging have even higher fatality rates, and workers in those industries are frequently able to obtain insurance.

Insurers also consider their own experiences with members of a profession, so companies who have long relationships with bomb squad members will have lower rates. Others who have a history of less buck relative to bang will raise their premiums accordingly.

The tradeoff comes with the premium a person in such a dangerous field will have to pay to get viable life insurance. Insurance is a business, and providers want to be sure that the amount they may have to pay out to a policy holder or his beneficiaries is equal to or less than the total in premiums they will collect. The chances are fairly high that a given member of the bomb squad will have a bad day at the office and trigger a payout, and if this happens within a few months of establishing a policy, the insurance company loses money.

Providers evaluate each potential policy holder as an investment, and will seek to even the odds on a shaky investment by increasing the amount they collect upfront. Although it may be expensive, our hero can indeed get the protection he wants for his family in the case of a failed mission. Some agencies even offer group insurance to lower the cost of a policy to each member. It’s good news in an occupation where there are only two kinds and one is deadly.

We return to our specialist as he tentatively makes the decisive cut, holding his breath as if not to breathe in the sense of dread in the air. An almost inaudible snip, then silence. Half a second passes as he wonders if this silence is that which comes with eternal sleep.

He heaves a heavy sigh as he realizes he is still alive and flashes the all clear signal to the rest of his unit. The sounds of their jubilance fall on his deaf ears as a deep sense of relief washes over his body. His experience and skill were good enough to keep his family at work safe today, and his insurance policy will keep his family at home safe should they only be almost good enough tomorrow.

The above was a guest post.

Don

 

 

Protecting Your Home: A Guide For The Over 50s

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Although it’s important for everyone to protect their home and belongings, it can seem even more vital to safeguard your homestead in later years once you have built up a collection of memories and possessions around you.

With this in mind, it’s imperative that you match your home insurance to your own personal situation in order to make sure your house and its contents are adequately protected, and of course, that you are getting the best deal for you. Many insurers recognise that the over 50s are a lower insurance risk and thus pride in your home is rewarded at this time with access to lower level rates for home insurance. Accidents do happen, but without the pitter-patter of tiny feet around the house, or even the somewhat louder footsteps of teenagers, they do have a tendency to happen less frequently.

By seeking insurance from specialists such as Castle Cover, you can find policies which take account of the time and effort you have put into getting your home and garden just the way you want it. Access to higher level contents insurance also acknowledges the hard work over the years, which has helped you buy the items that are part of your everyday life, as well as your more expensive treasured valuables.

If you have amassed a collection of special goods such as antiques or heirlooms – don’t forget to check these are sufficiently covered by your home insurance too. You may find such items need to be named specifically on your policy, or that your insurer requires them to be valued as part of your agreement – so make sure you talk through what cover can be provided by any potential insurers.

Castle Covers building and contents insurance shouldn’t just be about protecting your home either; consider incorporating cover for your garden or outbuildings too. Often these are the areas where people can spend their valuable relaxation time, or store costly equipment which they need for leisure activities or hobbies, so they should be a priority for safeguarding just as much as your home.

Finally, don’t be bamboozled by jargon. All insurance policies have their exclusions so it’s vital to ascertain just what you are covered for. Although you can receive significant discounts for buying your policy online this should not prevent you from speaking to an adviser first to clear up any questions. The knowledge that your home is protected to the standard you require, should after all, be paramount.

Today’s guest article was provided by Emir who represents Castle Cover, Thanks Emir!

Cheers,

MR