Best Insurance Tips

2010-04-19T10:36:00.000-07:00

You know that sinking feeling you get when a cop car pulls up behind you and flashes its lights, and the officer broadcasts (so passersby can hear) that you should pull over? If you do, you are probably one of the millions who have been ticketed for a moving violation. In most states, moving violations, like running a stop sign, running a red light, speeding, illegal u-turns, unsafe lane changes, etc., will earn you points. These aren’t the kind of points you get to trade in for goods and services. If these add up in a short period of time, these are the kind that can cost you more money for your insurance and possibly cause you to lose your driving privileges.

While the details vary from state to state, most point systems typically work in one of two ways:
• State system 1: Each ordinary moving violation counts as a single point, but two points are assessed for speed violations that are far in excess of the speed limit. A license is suspended when a driver receives four points in a year, six in two years, or eight in three years.
• State system 2: Two points are assessed for minor violations such as an illegal turn or slightly exceeding the speed limit. Three, four or five points are assigned for more serious violations, such as running a stop sign or a red light. A license is suspended if a driver gets 12 points over three years.

Some states also assess points for accidents if you are at fault.

If you get a ticket for a moving violation, check the vehicle code violation number with which you are charged—it should be written on the face of your ticket. Then call your department of motor vehicles and ask three questions:

1. Will the violation add points to your record?
2. How many points do you currently have on your record? (That might require a trip down there to get a printout.)
3. How many points does it take to have your license suspended?

Insurance Rates
Most insurance companies regularly review your record and may raise your premium if you get a certain number of points. Some states, such as California, do not allow insurance companies to raise your premiums for getting only one point on your record. In other states, drivers can be assessed two different types of points, driver’s license and insurance points. Call your insurance company to find out their policies. Depending on the laws in your state and your insurance company’s policies, your insurer will likely allow one moving violation every three to five years. Anything more than that and your premiums increase. Accidents will raise your premiums, as well, if you were at fault. The rates may go up as much as twenty to thirty percent depending on the severity of the accident or the number of points for your moving violation.

How to Avoid or Remove the Points
• Contest the ticket
One way to avoid moving violation points, (something you’ll want to do, especially if you are getting close to having your licensed snatched), is by contesting the ticket. (You might want to consult the national edition of Nolo’s Beat Your Ticket for some potentially winning strategies.) But there is another way.

• Traffic School
If you pay your ticket and go to traffic school, the points from the traffic offense will not go on your record. While traffic school may involve spending up to eight hours in a classroom listening to a lecture and watching films about gory accidents, it can be well worth it to avoid the increased insurance premiums. It may seem like an inconvenience, but it is a path that provides more certainty than contesting your ticket in court. How often you can attend traffic school varies by jurisdiction. Some allow attendance once a year; others are stricter at once every eighteen to twenty-four months. If you were ticketed for driving at least fifteen miles per hour over the posted speed limit, local law may prevent you from attending traffic school at all.

Some states, such as California, allow you to complete online traffic school, but others require you to sign up through a court clerk or even to appear before a judge. When you’ve completed the class, you receive a certificate to prove you’ve taken it. Some traffic schools go out of their way to attract customers by injecting humor into their curriculum. You get the same basic information, but with a twist, to make the day go a little faster.

• Defensive Driving Classes
In some areas, you can take defensive driving or other types of drivers’ education classes to have points removed from your license once they are on there. Check with your state’s department of motor vehicles for your options.

No insurance company wants to insure a bad risk and one of the strong indicators of that risk is whether or not the insured has been convicted of a number of moving violations because these bad habits may lead to accidents. Accidents create claims, which cost the insurance company money. Your best bet to keep your insurance rates down, of course, is to avoid getting moving violations at all. No one is perfect and insurance companies do understand this, but you must understand that they will ask you to pay for your transgressions.

CREDIT LIFE INSURANCE

2007-08-08T20:42:00.000-07:00

You usually take out credit life assurance when you enter into a major financial contract, for example, getting finance for a new car, a new fridge or take out a loan for your child’s education. This type of long-term insurance product is there to protect you or your dependents, should you die or become disabled and cannot replay the loan. Following are some aspects to keep in mind when taking out credit life insurance:

Read and understand the declarations of the documents you sign. Often, the excitement of buying a new car or fridge sometimes gets in the way of reading the financing agreement and any possible credit life insurance contract you could be entering into. You, then pay too little attention and may end up not being aware of the benefits that you are entitled to.
When you buy anything on credit make sure whether you have also agreed to buy credit life insurance. If you have, get the details of the insurer, so that you know whom to claim from should you become disabled. Also that your dependents or the beneficiaries in your will know of the cover so that they can claim should you die.
If you already have sufficient long-term insurance policies in place that you have taken out before to secure the debt, you should not be forced into taking out a new long-term insurance policy. The Long-term Insurance Act (Section 44) makes it clear that you can choose whether you want to take out credit life insurance or use your existing long-term insurance policies to secure the debt. If you decide to take out a new policy, you also have the right to choose the company you prefer to provide you with the policy. If an intermediary is involved, you also have the right to choose whom you would like to use.
Some policies can include cover for critical illnesses or even retrenchment. You must ask detailed questions about the type of cover that is offered when and if you are purchasing goods that have a credit life insurance portion cover.

However, be aware that your existing long-term insurance policies were probably taken out for other reasons, whereas credit life insurance has been designed to protect you and your family from inheriting a major debt. Very often other long-term insurance policies do not necessarily provide for unique benefits like retrenchment cover.

How to Get Your Health-Care Coverage

2007-08-08T20:37:00.000-07:00

Especially for the young and healthy, the prospect of ducking premiums (perhaps vowing to spend a portion of the savings on healthy living) and going without any sort of coverage might be a tempting option. By all accounts it's not a good idea. So, in the interest of keeping our readers healthy, Five for the Money offers strategies for getting health insurance -- or at least lowering health-care costs -- to those working without a net.

1. Buy insurance through Sam's Club. Wal-Mart Stores has taken heat for not providing enough of its hourly employees with health coverage, but a program offered through its Sam's Club warehouse stores could potentially change how Americans buy insurance. Sam's Club members -- the people who pay to shop at the cavernous discount stores -- can now also buy their health insurance through the retailer.Offered with Salt Lake City benefit management outfit Extend Benefits Group, the program is designed to allow Sam's Club members to choose between plans based on their family's needs and budget. For example, a 30-year-old man in Los Angeles could choose from more than 40 plans with monthly premiums ranging from $50 to about $400.Employers can also sign up to get their employees into the program. A Sam's Club spokesman declined to say how many people have signed up for health insurance since the program kicked off in early January, but the store says it has 46 million members.

2. Use a Health Savings Account. For those who can afford it, combining a Health Savings Account (HSA) into medical costs can be an attractive option. Signed into law by President Bush in 2003, the accounts enable people to set aside funds, tax free, to be used for future health care.The money can also be used to fund retirement. The accounts must be paired with an eligible "high-deductible health plan," according to the Treasury Dept.Because they are often coupled with relatively inexpensive insurance policies, HSA users can save money, "especially if they're healthy," says financial adviser Donald Whalen of Alpharetta, Ga. The program provides protection from the costs associated with disastrous medical problems, but not, typically, a family's routine medical expenses. "Insurance is supposed to protect you against catastrophes, it's not supposed to subsidize your doctor's visits," Whalen adds.

3. Work part-time. In addition to placing enormous burdens on individuals, the price of health insurance has forced many employers to reel in their offerings. Nonetheless, part-time employees at a few companies qualify for attractive benefits. For example, Starbucks employees who clock at least 20 hours a week are eligible for health insurance.Start slinging lattes and you'll also be eligible for a 401(k) and stock options. These days, that looks like a bona fide retirement plan, particularly by the flinty standards of the service sector. For many freelancers, the part-time jobs can also be an attractive option because they often offer a degree of flexibility along with the benefits.

4. Find an independent insurance broker. If you're too busy for a part-time job, there are still other avenues available. Whalen says the uninsured often flock to Web sites such as eHealthInsurance.com and INSweb.com, which allow consumers to compare the offerings of different private health insurers. He says it may be smarter to meet with an independent broker first."Being turned down for health insurance is kind of like being declined for credit," Whalen says, in that it can affect how future potential insurers will evaluate you. "It's much better to have someone work with you from the start," to ensure a good fit. He suggests starting the search with the National Association of Health Underwriters, which represents brokers and offers listings on its Web site.

5. Broaden your search. Large employers aren't the only ones offering group plans. A surprising number of professional and independent organizations offer health insurance. In a search for insurance options it's a good idea to check with bar associations, chambers of commerce, and similar groups. A Brooklyn (N.Y.)-based group called Working Today offers a health insurance program to qualifying freelancers.

Tips To Save Money On Your Homeowners Insurance

2007-08-08T20:34:00.001-07:00

· Think insurance when buying a home. Get a copy of the insurance loss history of the home you want to buy. Get it inspected so you know that past problems have been properly repaired. The Clue and A-PLUS databases, for example, enable insurers to check the claim history of both the homeowner and the property which the homeowner is purchasing.

· Raise your deductible. Higher deductibles on your home could produce savings of 15% to 30 % or more.

· Upgrade your home. Consider modernizing your heating, plumbing and electrical systems to reduce the risk of fire and water damage. Make sure to let your insurer know of these upgrades. Find out from your insurer what steps you can take to make your home more resistant to windstorms and other natural disasters. You may be able to save on your premiums by adding storm shutters, reinforcing your roof or buying stronger roofing materials. Older homes can be retrofitted to make them better able to withstand earthquakes.

· Improve your home security. You can usually get discounts of at least 5% for a smoke detector, burglar alarm or dead bolt locks. Some companies offer to cut your premium by as much as 15% or 20% if you install a sophisticated sprinkler system and a fire and burglar alarm that rings at the police, fire or other monitoring stations. These systems aren’t cheap and not every system qualifies for a discount. Before you buy such a system find out what kind your insurer recommends, how much the device would cost and how much you’d save on premiums.

· Buy your home and auto policies from the same insurer. Some companies that sell homeowners, auto and liability coverage will take 5% to 15% off your premium if you buy two or more policies from them.

· Maintain good credit. Increasingly, insurers are using credit- based insurance scores to determine homeowners and auto coverage premiums. All else being equal, a person with a good insurance score will pay much less for insurance than someone with a lower score.

MOVING TIPS

2007-08-08T20:31:00.000-07:00

There are things you can do before you move that will help minimize (or avoid) loss or damage of your personal property. If you do most or all of the things listed below, you can be assured of fair and equitable settlement of your claim when there is loss or damage.
Ship only personal property that you own - don’t ship anything for someone else that doesn’t belong to you.
Don’t ship cash, coins, furs, and jewelry. These items are highly susceptible to pilferage.
If you have items of great sentimental value that you cannot bear to lose, do not ship them - take them with you.

Don’t ship important documents such as passports, birth certificates, marriage licenses, or medical records. Arrange to take them with you.
If possible, don’t ship firearms. Try to take them with you. If you must ship them, ensure each appears as a line item on the inventory (including manufacturer, model, and serial number. Disable the firearm in some way, so it cannot be used.

Don’t ship corrosives (including bleach), flammables, or unsealed liquids. These items can destroy or ruin your entire shipment (and, perhaps, someone else’s) if the container(s) leak. In fact, the carrier will most likely refuse to load these kinds of things on their equipment.

Invest some time making a detailed, video inventory of all your property prior to your move. Do yourself a favor - go overboard on this one. Be sure to open up closets, dresser drawers, cabinets, entertainment centers, and buffet doors, etc - don’t forget the garage, back patio and outdoor shed. Do a running dialog during the video, read off model numbers, serial numbers, sizes, dates, etc. Turn on the television, microwave, and washing machine. In addition to a video inventory, prepare a written item-by-item inventory of your collections, such as coins, VHS tapes, albums, CDs, cassettes, baseball cards, sports memorabilia, dolls, and other collectible items. What’s the value of doing all this? First, it documents what you own. Second, if it’s done just few days before your move, it helps to document that major appliances were in working condition at the time of shipment. You should also make a list of the purchase prices and dates of major items, such as furniture, electronic equipment, and art objects, and gather the documentation to prove it: paid bills, credit card slips, canceled checks, pre-shipment appraisals, etc. Keep this information separate from your household goods. Carry it with you or mail it to your next duty station.

If you have a lot of high-value items, consider getting private insurance or request your shipment be released with full replacement value (FRV) protection. See the separate handout on FRV.
You are responsible for preparing most of your items for shipment. Disconnect all computer equipment. Remove ink cartridges from fax machines and printers. Disconnect and disassemble your stereo/home theatre/satellite television system. Disconnect and drain the hoses from your washing machine. Disconnect and drain garden hoses. Drain the gas and oil from your lawn mower.
Think ahead.

Consider having your personal property packed and picked up a few days (even up to a week) in advance of your anticipated departure date. If you wait until the last minute and something goes wrong (say, bad weather or the carrier fails to show up), you may not be able to correct the problem.
Want to preclude problems when unforeseen events prevent your personal property from being packed and picked up at the scheduled time and you can’t delay your departure? Line up a good friend or a trustworthy co-worker to take responsibility for your goods and give that individual a power of attorney to act in your place. Be sure this is someone you trust and can rely upon to act in your best interests.
It’s up to you! It’s packing and pick up time.

In most cases, you are the government’s representative at the time packing and pick up of. If something is not being done properly, it’s up to you to call the transportation officer immediately.
Make sure the packers write adequate descriptions of the contents on the boxes themselves and later on the inventory. While the packers do not have to list every item, they should write the general category of the items on the outside of the boxes. The general category of each box (e.g., CD’s, toys, garage items, etc.) should also be written on the inventory.

Make sure that items that would not logically be packed in a certain box are specifically listed. Examples: tolls packed in a box marked clothes; a lamp packed in a box marked garage items. If you later claim for an item that would not reasonably expected to be found in a certain box, you may not be paid for it.
High-value items absolutely must be listed on the inventory. See the separate handout on high-value items.
Be sure the inventory the carrier prepares lists all of your property. If it gets late in the day, the carrier may want to load the items on their equipment and tell you they’ll complete the inventory back at the warehouse. Tell them NO! Things not listed on your inventory almost never arrive when your shipment gets delivered at destination. Further, chances are slim to none for getting paid on claim for an item that doesn’t appear on the inventory.

Before you sign the inventory and allow the carrier to depart, do a walk through of your residence (look in the closets, under the stairs, and in the basement) to be sure the carrier has taken all of your property.
Ensure all expensive items (e.g., VCRs, stereos, televisions, and cameras) are listed as separate line items on the inventory.
When the carrier prepares the inventory, they will list the condition of your property. You need to pay close attention to the codes they list which show things are scratched, dented, chipped, etc. If you disagree with what the carrier shows on the inventory, discuss it with the carrier and try to get them to change it. If the carrier refuses to change the condition, make sure you take exception on the inventory before you sign and date it (there’s usually space at the bottom of each inventory sheet).

Ensure that whoever prepares your inventory writes legibly. If you can’t read or understand their writing, it’s guaranteed that claim settlement personnel won’t be able to read it if you must file a claim. Also, insist that you get a readable copy of the inventory. Quite often, the carrier wants to stick you with the last copy, which may be impossible to read.

Insist that you receive a copy of the government bill of lading or service order that applies to your shipment. Don’t wait until the day of pickup, because the carrier probably won’t have a copy of it. If you didn’t get a copy when you set up your move, contact the office that made the arrangements and have them furnish you a copy. If you elected full replacement value insurance for your property, you need to be sure block 27 of the GBL is annotated. If it’s not, you won’t have the coverage and it is not something that can be added after the fact.

Tips for Directors

2007-06-16T00:42:00.000-07:00

Tips for Directors

Know the bylaws and constitution.
Inform yourself about the activities and operations of the organization. “The less you know the greater the risk you put yourself in”.
Insist on receiving relevant information related to board decisions in advance and be prepared to participate in decision making.
Review the minutes and ensure corrections are made. Insist the minutes record disclosure, dissent or refraining from voting.
Be prepared to make decisions. Avoid being a rubber stamp.
Ensure appropriate information reporting and other management systems are in place i.e. annual audit.
Respect confidentiality.
Avoid conflict of interest. If in doubt declare a conflict and don’t vote.
Insist that the organization protect directors by indemnification and insurance.
Monitor the financial health of the organization i.e. tax receipts to ensure value not inflated, against disbursements if there is a question of insolvency.
Ensure committees report to Board and obtain approval for their actions.
Keep personal notes at meetings.
Keep a binder or file with all minutes and other documents together.
Insist on written legal and other professional opinions where necessary.
Ensure that the organization assesses the risk to the activities and minimizes, eliminates, reduces or avoids them.
Resign if you feel affairs are not conducted in proper, responsible and legal manner in accordance with wishes of general membership.

Ten Tips for Homebuyers

2007-06-16T00:27:00.000-07:00

Ten Tips for Homebuyers

Before you start looking for a home, get pre-qualified for a loan. Banks, credit unions and mortgage bankers make home loans; mortgage brokers process them. The lenders will take an application, process the loan documents, and see the loan through to the funding stage.
If you have marginal or bad credit, consult your lender. You may be able to qualify for a loan depending on how long ago and what reason(s) caused the bad credit. A lender should be able to advise you on whether your credit history will prevent you from qualifying for a home loan.
You will need a down payment. Down payment requirements vary depending on the type of loan. Many down payment assistance programs exist. These programs may loan or grant you the funds necessary for the down payment. Consult with a lender about programs available in your area.
You will need funds for closing costs Closing costs are charges for services related to the closing of your real estate transaction. They include, but are not limited to:
* Escrow fees charged by the company handling the transaction
* Title policy issuance fees charged by the title insurance company
* Mortgage insurance fees
* Fire and homeowners insurance
* County Recorder fees for recording your deed
* Loan origination fees
Some loans have "points" and some do not. A point is a loan origination fee equivalent to 1% of the loan amount. Together with the interest rate they constitute the yield on your loan for the lender. Some lenders charge a higher interest rate to compensate for charging no points. It is important to comparison shop lenders to make sure your loan is at a competitive yield.
Should you select a mortgage with a fixed rate or an adjustable rate? The answer to this question depends on whether mortgage rates are at a high or a low point when you purchase, and on how long you plan to live in the home. If rates are high, an adjustable rate might be attractive since subsequent rate drops could reduce your monthly payments.
Be aware of the two main types of loan categories.
1. Conventional Loans. Conventional mortgage loans are available with fixed or adjustable interest rates. Some loans may require mortgage insurance.
2. Government Loans. These include Federal Housing Administration (FHA) fixed and adjustable rate mortgage loans, and Veterans Administration (VA) fixed rate mortgage loan.
If you are a low or moderate income homebuyer, there are special programs designed to help you. These loans are available through private lenders, as well as local and state housing agencies, like the California Housing Finance Agency (CalHFA). Most lenders specializing in real estate mortgage loans are aware of these types of loan programs.
Why might I have to pay mortgage insurance? Mortgage insurance protects the lender from potential loss if you should default on your mortgage loan payment. Generally, conventional loans that require larger down payments do not require mortgage insurance. Mortgage insurance is always required on FHA mortgage loans.
Many organizations offer home loan counseling to prospective homebuyers. These organizations provide classes for homebuyers to cover the steps to homeownership. They will cover home selection, realtor services, lenders, loan programs, homeownership responsibilities, saving for a down payment, and other important pieces of information. Many first-time homebuyer programs require homebuyers to attend this type of class to be eligible for selected programs.

More information !!
Contact one of CalHFA's approved lenders.

Ten Tips for Online Investors

2007-06-02T08:29:00.000-07:00

Ten Tips for Online Investors

When You Invest Online, Be Sure To:

Receive full disclosure, prior to opening your account, about the alternatives for buying and selling securities and how to obtain account information if you cannot access the firm's Web site.
Understand that most likely you are not linked directly to the market, and that the click of your mouse does not instantly execute the trade.
Receive information from the firm to substantiate any advertised claims concerning the ease and speed of online trading.
Receive information on the firm's Web site about significant outages, delays and other interruptions to securities trading and account access, and how to proceed under these circumstances.
Obtain information before trading about entering and canceling orders (market, limit and stop loss), and the details and risks of margin accounts (borrowing to buy stocks).
Determine whether you are receiving delayed or real-time stock quotes and when your account information was last updated.
Review the firm's privacy and Web site security policies and whether your name may be used for mailing lists or other promotional activities by the firm or any other party.
Receive clear information about commissions and fees and conditions that apply to any advertised commission.
Know how to, and if necessary, contact a customer service representative with your concerns and request prompt attention and fair consideration.
Contact your state securities agency to :

verify the registration/licensing status and disciplinary history of the online brokerage firm;
find out if the investment is permitted to be sold; and
file a complaint, if necessary.

To more information, contact !!
Iowa Securities Bureau
340 Maple Street
Des Moines, IA 50319-0066
515-281-4441 or 800-351-4665
iowasec@iid.state.ia.us

Insurance Tips for Event Organisers

2007-06-02T08:23:00.000-07:00

Insurance Tips for Event Organisers

as an event organisers you need to plan for the unexpected, so it’s important to be properly insured. here are the top ten insurance tips for event organizers :

Insure early – as soon as you are committed to the venue. This is to ensure maximum cover and best rates. Insurers can’t cover incidents that have already happened.
There is an opportunity to lower your premium by carrying out a full risk management exercise.
Identify the susceptibility of your attendees to be affected by disrupted transport. If this is likely, insurance may be needed to protect against any enforced reduced attendance at your event. For example, if most of your guests are fl ying in from overseas your event could be severely affected by an airport strike.
Ensure the site of the event is secure and all attendees, visitors, and sub-contractors are readily identifi able. Don’t rely on the venue to know who is walking into your event.
Check the venues for slipping and tripping hazards as a signifi cant proportion of accident claims involve attendees, visitors, sub-contractors etc falling over.
It is paramount that you negotiate and check your venue contract closely. Make sure you understand it as the terms can be beyond your normal legal obligations. Your venue will rarely provide you with the insurance cover you need.
Make sure you have adequate public liability insurance. Usually venues expect a public liability limit of indemnity of a minimum of £2million any one occurrence. Some venues require as much as £25million. Sub-contractors must have a similar limit.
Ensure your exhibitors, delegates and subcontractors receive your terms and conditions so they are aware of their responsibilities. Failure to do so could mean, for example, an exhibitor who suffers damage to his exhibits will try to claim against you.
Consult your legal department or lawyers when you issue your contract and terms and conditions, and when you sign your venue contract. Make sure you take out adequate insurance with a proven and acceptable event insurer.
Obtain the best cover you can afford, and plan to improve the insurance budget for the next event. By planning ahead you can make sure you have enough money in the budget to get the best cover available to you.

You can read complete at www.insurex-exposure.com visit now !

Categories of Private Health Insurance

2007-06-02T08:20:00.000-07:00

Categories of Private Health Insurance

Primary principal:
Covers the medical care of persons who do not have legal access to the public system.

Primary substitute:
Covers the medical care of persons who have the choice of substituting private insurance for public coverage.

Duplicate:
Covers the medical care of persons who continue to have access to the public system (and who are obliged to contribute to it through taxes) but who wish to be treated in a parallel private sector.

Complementary:
Covers the portion under the responsibility of the insured person (copayments or coinsurance) in the public health insurance system.

Supplementary:
Covers extras or services not insured by the public system.

Homeowners Insurance Consumer Tip

2007-06-02T08:17:00.000-07:00

Homeowners Insurance Consumer Tip

Be smart! For most people, your home is your most valuable asset! Protect it!

Make sure you have enough insurance to rebuild your home.

Call your insurance agent to determine the insurance company’s calculation of the cost to rebuild your home. If you are not insured to that level, get a quote and consider increasing your coverage. Ask what the repercussions are if you have a major claim.

Take photographs of your home and possessions.

Store a copy of these pictures in a safe place away from your home.

Comparison Shop.

Compare prices. Ask questions. Remember to compare apples to apples. When shopping, make sure that you are comparing comparable limits and benefits.

To helpful anymore call the fair housing center at (419) 243-6163 call now !!

Buildings Insurance

2007-06-02T08:13:00.000-07:00

Buildings Insurance

What is buildings insurance

Buildings insurance covers the cost of damage to the structure of your property. This includes the roof, walls, ceilings, floors, doors and windows. Outdoor structures such as garages and fences are also included.

Buildings insurance covers permanent fixtures and fittings, interior decoration and underground tanks, pipes, cables, and drains for which you are responsible from your home to the mains supply.

Choosing buildings insurance

The price of an insurance policy is called a 'premium'. Before you take out your buildings insurance policy, ask for quotes from several insurers to help you to get the best deal for your circumstances. You will need to compare:

what each policy covers, and any exclusions (risks which are specifically excluded, for example, damage caused by frost or sonic booms)

the amount of any excess. This is the first amount of any claim, for example the first £50, that you will have to pay yourself. Some policies allow you to pay a higher excess in return for a cheaper premium

any discounts offered

the no claims bonus which increases for every year that no claims are made on your policy, up to a maximum amount. Most insurers will let you transfer the discount, if you want to change your insurer. You will also need to compare the amount by which your no claims bonus would be reduced if you made a claim.

Things to remember

when you buy insurance, you must give your insurer, or the person who sells you the insurance, as much information as you possibly can about anything which might affect their decision to insure you and how much to charge.

It is your responsibility to inform your insurer of any change in your circumstances, for example, if you carry out any home improvements to your property. You should do this as soon as possible, and not wait until it is time to renew your insurance policy.

And you can read complete at www.adviceguide.org.uk visit now !!

Tips for Identifying Auto Insurance Scams

2007-06-02T08:09:00.000-07:00

Tips for Identifying Auto Insurance Scams

Be informed. If you require the services of a tow truck driver, paralegal or health care provider, know your rights. Here are some tips:

Tow Trucks

Make sure the tow truck has a municipal licence number on its side before you use its services.

Look to see if the tow truck is affiliated with a reputable company such as an automotive roadside assistance group or automobile association.

Ask if the tow truck has a police contract.

Listen for obvious clues. Does the driver recommend a particular repair facility without being asked? If he/she does, this might be an indication that a referral fee arrangement exists. In Toronto, making such a recommendation may be illegal under the Municipal Code, Chapter 545.

Carefully read everything the tow truck driver asks you to sign.

Ask that your vehicle be taken to a secure location where an adjuster or appraiser from your insurance company can have access to it. Some municipalities require that your vehicle be taken to a Collision Reporting Centre or police station before it goes anywhere else.

Contact your insurance company, if possible, for information on towing and where to take your vehicle to be repaired.

Consider having your vehicle towed to a preferred vehicle repair shop. Some insurance companies use preferred repair shops where they have an agreement that guarantees your vehicle will be repaired to the highest possible standards. For more information, contact your insurance company.

Paralegals

The law requires that anyone who acts as an adviser, consultant or representative for no-fault auto accident benefits must meet certain requirements. The requirements include passing a criminal record check, possessing errors and omissions insurance and adhering to a code of conduct. The law applies to paralegals who advise another person about his or her rights to obtain accident benefits; assist in completing claim forms; discuss or negotiate with an insurer or adjuster; attend dispute resolution meetings at FSCO, Small Claims Court or private arbitration; or negotiate the settlement of no-fault accident benefits.

Watch for red flags like special fees. Paralegals are not permitted to charge you a contingency fee (a percentage of any award that you may obtain).

Observe the business relationship between the paralegal and health care provider. Paralegals must inform you of any potential conflicts of interest, including if they have an interest in the health care facility to which you have been referred.

Ask your paralegal to show you proof he or she has errors and omissions insurance coverage. All paralegals are required to carry this coverage.

Carefully read anything that the paralegal asks you to sign.

Expect to be treated in a fair and courteous manner.

Check to see whether a paralegal is authorized with FSCO to act as a paralegal in the auto insurance industry. You may do so through an easy-to-use online service that is available at: www.fsco.gov.on.ca.

Health Care Providers

Carefully review the itemized treatment plan before you sign it.

Ensure you are receiving the treatments for which your insurance company is being billed.

Check the rates. Your health care provider must bill your insurance company at the same rate for treatment they would reasonably charge you if you were paying for the treatment.

You can read complete at www.autoinsurance.gov.on.ca visit now !!

Life Insurance

2007-06-02T08:04:00.000-07:00

Life Insurance

What is life insurance?

Life insurance is a policy that pays a specified amount of money after your death to a beneficiary, a person you choose. The amount of money the person receives depends on the type of life insurance you purchase. The amount you pay to the insurance company, the premium, depends on the policy you select.

Today more than 200 insurance companies write life insurance policies in the United States. Not all insure cancer survivors. Those that do offer life insurance policies for cancer survivors usually require survivors to pay a higher premium. You may not want life insurance now. You may not be able to afford life insurance. However, if you think life insurance would help you or your family, options exist for cancer survivors. Survivors who want life insurance should understand the different types of life insurance and how having had cancer affects the type of life insurance they can get.

What are the different types of life insurance?

Term Life
Term life is a contract to insure your life for a specified period of time, usually 10, 15, 20, 25 or 30 years. It is the most affordable form of life insurance. You pay a premium monthly, quarterly or annually. If you die during the specified period of time, the beneficiary (the person you leave the policy to) receives a certain amount of money. The shorter the term, the lower the cost. At the end of the term, you may be able to renew the policy for an additional term by paying more money. Sometimes, however, to renew the policy, you will have to get a physical examination or provide the life insurance company with updated health information. If a survivor has a recurrence or experiences another medical condition, the life insurance company may not be willing to renew the policy.

Universal
Universal life is a fairly new kind of life insurance. It is called permanent insurance because the price stays the same throughout your life and the policy cannot be cancelled as long as you make the minimum payments. It has flexibility. You can pay less than the full amount and keep your insurance at a lower coverage level. Sometimes you can increase the amount of insurance by paying more.

Whole Life
Unlike universal life insurance, once the premiums for whole life insurance are set, they can’t be changed. Whole life also has cash value, which allows you to borrow from the policy. The money is not just for your beneficiary when you die. You can use it while you are living. While borrowing can lower the amount your beneficiary receives when you die, it provides an extra source of money if you need it.

Guaranteed Issue Whole Life
This life insurance is for people with severe health problems. It is not available in all states. Most insurers require that you be at least 40 years old to get guaranteed issue whole life insurance. Most policies only offer up to a $25,000 death benefit. It is priced based on age and gender and is available to cancer survivors. It is expensive. Most policies do not pay a full death benefit if you die in the first 3 to 5 years after purchasing the policy.

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Choosing Travel Insurance

2007-06-02T08:00:00.000-07:00

Choosing Travel Insurance

Travel insurance can provide you with cover for:

cancelling or cutting short your trip for specific reasons outside your control, for example, the unexpected illness of you, a close family member or a member of your travelling party

missed transport or delayed departure for reasons outside your control

medical and other emergency expenses

personal injury and death

lost, stolen or damaged personal property, including baggage

accidental damage or injury you cause to someone else.

You can buy travel insurance to cover a single trip, or an annual policy covering several trips. As most travel policies cover you for cancellation, you should take out insurance when you book your trip. Some package holidays offer to include travel insurance but you do not have to accept this. You are free to make your own arrangements. A travel agent must not charge you more for a package holiday because you do not buy their insurance.

Ask for quotes from several insurers to help you get the best deal for your circumstances. You will need to compare what each policy covers and:

any exclusions. Some policies exclude dangerous activities or high risk sports such as skiing or scuba diving. If you are going on a holiday involving one of these activities, you may have to pay more for your insurance

compulsory excesses. This is the amount you have to pay towards the cost of a claim. The amount may vary, depending on the claim

additional conditions, for example, how long your journey has to be delayed before your insurer will pay you compensation.

And don’t forget to check whether any age limit applies.
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Individual Health Insurance

2007-06-02T07:49:00.000-07:00

Individual Health Insurance

Tips when shopping for individual insurance:

• Shop carefully. Policies differ widely in coverage and cost. Contact different insurance companies, or ask your producer (agent) to show you policies from several insurers so you can compare them.
• Make sure the policy protects you from large medical costs.
• Read and understand the policy. Make sure it provides the kind of coverage that’s right for you. You don’t want unpleasant surprises when you’re sick or in the hospital.
• Check to see that the policy states the date that the policy will begin paying and what it covers or excludes from coverage.
• Make sure there is a “free look” clause. Most companies give you at least 10 days to look over your policy after you receive it. If you decide it is not for you, you can return it and have your premium refunded.
• Beware of single disease insurance policies. There are some policies that offer protection for only one disease, such as cancer. If you have health insurance, your regular plan probably already provides all the coverage you need. Check to see what protection you have before buying any more insurance.

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