29Nov

Umbrella Insurance for Greater Coverage

Filed in State Auto Insurance 3 Comments

When the amount of a claim against you exceeds the coverage provided by your home or auto , you are saddled with the prospect of settling this excess liability on your own. Your will not cushion you against this contingency. However, there is a way out. To overcome this eventuality, you can obtain an excess liability policy, or an umbrella policy.

This policy will give you the required cushion against any claim exceeding the amount covered by your normal insurance policy. For example, suppose your policy covers claims of accidental pedestrian injury up to an amount of $20000. If an accident does occur, and a claim of $50000 dollars is adjudicated against you, the insurance company will only pay the $20000 agreed upon, and you will have to pay the balance $30000 out of you personal funds. If you do not have the cash or any other liquid asset, then your home, or some other fixed assets could be at stake. You may even be reduced to a state of bankruptcy. This is where an umbrella policy can help you. An umbrella policy will take care of the excess amount of $30000 dollars that you would have had to pay from you own funds.

The umbrella policy expands the coverage offered by your home or auto policy. You can purchase this policy for coverage of up to five million dollars. Moreover, the premium is very low and you may have to pay just $300 to $400 a year for this coverage.

When the amount of a claim against you exceeds the coverage provided by your home or auto insurance policy, you are saddled with the prospect of settling this excess liability on your own. Your insurance company will not cushion you against this contingency. However, there is a way out. To overcome this eventuality, you can take an excess liability policy, or an umbrella policy.

This policy will give you the required cushion against any claim exceeding the amount covered by your normal insurance policy. For example, suppose your auto insurance policy covers claims of accidental pedestrian injury up to an amount of $20000. If an accident does occur, and a claim of $50000 dollars is adjudicated against you, the insurance company will only pay the $20000 agreed upon, and you will have to pay the balance $30000 out of you personal funds. If you do not have the cash or any other liquid asset, then your home, or some other fixed assets could be at stake. You may even be reduced to a state of bankruptcy. This is where an umbrella policy can help you. An umbrella policy will take care of the excess amount of $30000 dollars that you would have had to pay from you own funds.

Further, many companies will not offer you the umbrella policy unless you have your home or auto insured with them. They may also require you to maintain a of liability on your home or auto insurance.

The umbrella policy does not only cover your cars and homes, but also offers personal injury protection which may include false arrest, false imprisonment, malicious prosecution, defamation, invasion of privacy, wrongful entry or eviction. The terms may vary according to each company, and from one state to another.

The umbrella policy is an excellent way to protect yourself against expenses for claims exceeding the coverage provided by your regular insurance policy. It can be bought for a very low annual premium, and proves very helpful in protecting your personal assets from lawsuits and legal action.

Joseph Kenny
http://www.articlesbase.com/non-fiction-articles/umbrella-insurance-for-greater-coverage-72718.html

Tags: , *personal injury protection, , ,

30Oct

Insurance policy physical injury

Filed in State Auto Insurance 5 Comments

Whatever cause you are looking for car insurance, rather it involves the buying of a carrier or it is time to refresh your present policy, the settlement is not the one to be made easily. With matters as what policy to append, what it is all meaning, what are you concurring to, etc. may frequently seem as if it was designed by some alien planet, and there are reasons for each particular coverage that is offered. Two significant factors to be thought of when settling on physical damage vehicle insurance coverage are that it could be ordered by law and it maintains you in terms of money. In simple words, physical injury insurance supplies costs related to injury or death to other individuals because of a car crash in which you get involved. Also, it proffers lawful protection in the case of a legal suit being registered. It is also covering passengers in your car. Anyway, what it doesn’t cover is your car or anyone listed in your policy in a capacity of a driver. Not just covering the cost of the damage itself, physical injury insurance comprises provisions for income loss, suffering and pain as well. Compulsory in most states, the amount ordered is state mandated as well. While several states do not order the insurance, they do order the capability to supply fiscal liability. Should you be gotten in an at misdeed accident where damage or death is a consequence, the impossibility to supply financial help may cause a state taxed SR 22. If put on your report, you would be ordered to keep this insurance for three years, and the expense far overbalances any value having the security in the first place would have cost you. Your , who is well experienced in the otherwise foreign language, is your best alternative for defining the coverage value you will need. Significant things to consider are the fiscal consequences if you are underinsured and the capability to tap into your individual finances in the case of a judgment. While this auto insurance is supplied in increases of $100,000’s, there are two dosages to the practical provision. While the prime portion covers the amount per individual, the second covers the utmost returned per accident. Considering all individual assets, involving real estate, your insurance should be equal to your carrying value. Once again, your insurance provider has guidelines and formulas to help you in defining the amount that best secures you. The cost related to adding physical damage to your policy considers a lot of factors when appraising the amount you will return every year. With your residence location being a basic factor, age, driving record and marital status is also involved in the calculation. One thing to take in account in having a physical damage support is to consider complete and . While the state panel of insurance could supply data on the demands of the insurance ordered for your state, it is not a best fiscal decision to go without this security. As legal suits continue to increment where auto accidents are taken into account, having bodily on your just makes real sense.

David Mayer
http://www.articlesbase.com/insurance-articles/insurance-policy-physical-injury-1122418.html

Tags: , , , , , simple words

11Oct

Tips On Saving Money

Filed in Auto Insurance Comparison 10 Comments

Do you always worry about money? Are you always playing catch up with your bills? Here are some tips on saving money in case you are one of the millions of Americans who are struggling with some type of debt:

CREDIT CARDS

Pay your balances in full each month.

Do not use credit card for things like groceries or dining. If you cannot afford to pay cash for it, you can’t afford it, period.

Always review your credit card monthly statement to make sure charges you never make do not appear.

BANKING

Do business with a bank that does not charge monthly services fee.

Use only ATM machines that are affiliate with your bank.

INSURANCE

Review your and .

Shop around for cheaper rates and see if you can save money by getting .

SHOPPING

Do major comparison shop and only buy when you have found the lowest price possible for that item.

Clip coupons.

Take advantage of rebates or shop at store that offer instant rebates.

Go to discount stores for toys and clothes.

Eliminate impulsive purchases by “sleeping on it.” Especially when buying clothes or any major purchase.

Garage sales are also know to be a good choice on certain items you need.

TELEPHONE

Cancel call waiting, caller ID, and three way calling from your telephone.

Shop around for the best long distance carrier.

Use phone cards to call international or long distance.

Use your cell phone only for emergencies.

ELECTRICITY, GAS, WATER

Cut down your water use, especially hot water.

Lower your thermostat by 1 or 2 degrees.

Add ceiling fens.

FOOD AND BEVERAGES

Buy you soft drinks by the 12 pack instead of vending machines or fast food drinks. That will save you a lot and you’ll also avoid the bacteria.

Brew you own coffee instead of going to a fancy coffee house.

Avoid eating out. Put the money in a fund for saved money or apply that to a bill.

When eating out order water instead of drinks. When you are free of debt you can celebrate.

ENTERTAINMENT

Don’t subscribe to cable channels you don’t watch. Stick to the basic plan or cut out the cable for a while.

Rent videos instead of going to the theater or, if you must, go to the matinee instead of evening showings.

Check out DVD or VHS movies from the library. It’s free.

G.l. Bycz
http://www.articlesbase.com/finance-articles/tips-on-saving-money-103507.html

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21Aug

Understanding Auto Insurance

Filed in State Auto Insurance 5 Comments

You are required by law to carry auto insurance in the state where your vehicles are registered (it is required in almost all 50 states). Everyone has it, but hardly anyone understands the provisions or coverages outlined in their policy. Auto insurance is extremely important, because it not only covers you and your vehicles, but it also covers your liability associated with damages you cause to other persons or property.

There are several important coverages that you need to understand. The first coverage you will see listed is called bodily injury liability. This is the amount of liability coverage you have for injuries you cause to other people in an accident. It is sometimes listed as a split limit, in which case the first number is the amount of liability you have per person, and the second number is the maximum total your policy will pay for all injured persons. It is considered customary to maintain at least $100,000 of bodily injury liability per person, and $300,000 per accident.

Sometimes, bodily injury is grouped together with property damage liability (property damage is damage that you do to other vehicles or property in an accident) and listed as one number. This is known as a combined single limit. It is recommended to maintain $300,000 of combined single limit liability for your bodily injury and property damage.

The next coverage you will see listed is called uninsured/underinsured motorists liability. This number should be equal to the liability you have for bodily injury and property damage. This coverage is mandatory in most states. It covers you if you are involved in an accident and the other driver was at-fault, but that other driver either does not have insurance or their coverage is not adequate to compensate you for your damages. Uninsured/Underinsured motorist coverage kicks in to fill in the gaps.

After uninsured motorist coverage you should see something called personal injury protection (PIP). Some states required this coverage, some do not. In states that require it, it is best to maintain $250,000 of PIP coverage. Those states that do not require it may have different laws that mandate to cover any and all injuries associated with an auto accident. You should contact your agent if your policy is not clear on this; if PIP coverage is required in your state, make sure you have it.

Right underneath or in the vicinity of PIP you might see something called Additional PIP. Some states make this available while others do not. Additional PIP provides you with a certain level of income up to a certain maximum amount to help make up for lost wages if you are disabled as a result of an auto accident and unable to work. Additional PIP also includes a certain amount for funeral expenses that would be incurred by your family if you are killed in an accident. If you do not have Additional PIP coverage on your policy, call your agent immediately and find out if it is available.

The next items listed on your policy are comprehensive and . Comprehensive covers you for damage done to your vehicle when caused by things such as fire, theft, a rock hitting the car, or hitting an animal on the road. Collision pays for damage to your vehicle when the cause is an accident involving a collision with another car or other object on or near the road. Comprehensive and collision coverage is normally subject to a deductible, which you should see listed on your policy.

The final two coverages listed on your auto policy are rental reimbursement and towing. Rental reimbursement pays you a certain amount per day to cover expenses associated with having to rent a car if your vehicle has become disabled following an accident. Towing coverage, as the name suggests, covers your towing expense when your car is towed following an accident.

I hope this has helped you to understand your . Even though almost everyone who has a car has insurance, most people have no idea what it covers. Then when it comes time to file a claim, they find that their policy does not meet their needs sufficiently. Use the information that was presented here to help you make intelligent choices so you can be prepared if something happens.

Jim Pretin
http://www.articlesbase.com/non-fiction-articles/understanding-auto-insurance-59498.html

Tags: , , limit liability, ,

25Jul

Do You Need Commercial Auto Insurance

Filed in Auto Insurance Coverage 4 Comments

You get in a wreck and find your won’t cover you. What happened? If you were conducting business and you were not carrying a commercial policy, you could be in danger.

So, if you are a business owner, following up with the type of you have is critical as you and your business could end up being liable.     To start, you need the same kinds of insurance coverage for the car you use in your business as you do for a car used for personal travel — liability, collision and comprehensive, (known as personal injury protection in some states) and coverage for uninsured motorists. In fact, many business people use the same vehicle for both business and pleasure. If the vehicle is owned by the business, make sure the name of the business appears on the policy as the “principal insured” rather than your name. This will avoid possible confusion in the event that you need to file a claim or a claim is filed against you.

Whether or not you need to buy a business auto insurance policy will depend on the kind of driving you do. A good will ask you many questions about how you use vehicles in your business, who will be driving them and whether employees, if you have them, are likely to be driving their own cars for your business.

While major auto coverage is the same, a business auto policy differs in many technical respects. For instance, if you have a personal umbrella liability policy, there’s generally an exclusion for business-related liability. So are you safe?

Here are some examples of ways you may get into trouble without a commercial policy:

•    Pizza and newspaper delivery;
•    Catering;
•    Door-to-door consulting services;
•    Landscaping or snowplowing services
•    Day care/church van services.
•    Real Estate Agents

If your business uses a vehicle, or many vehicles, you will want to ask your insurance professional some important questions such as:

• What are my liability limits? In general, a commercial auto policy can offer higher liability limits. Larger vehicles, such as delivery vans, can cause more damage than passenger cars.

• Does my personal policy cover me for issues specific to my business? For example, if you have a trailer that damages another vehicle while on a job, a personal liability policy may not cover the repairs. A commercial policy will.

• Do I have employees who drive my vehicles? In general, if other people drive your vehicles for work, you need a commercial auto policy.

You also need a commercial auto policy if your vehicle hauls tools or equipment weighing more than 500 pounds, makes deliveries or requires filings for interstate for for-hire trucking businesses.

Once you have taken all of the above into account, you can rest better at night knowing you are fully protected and no assumptions have been made.

gregchapman
http://www.articlesbase.com/cars-articles/do-you-need-commercial-auto-insurance-626709.html

Tags: , , , , Financial Services,

26Jun

Auto Coverage Analyzer

Filed in Auto Insurance Coverage 4 Comments

Buying a car means taking a well thought out decision. However, sometimes taking a well-thought, wise decision gets difficult. This is even more so, when it involves a big investment decision like buying car and insuring it. One wrong decision and you might end up in a financial soup. Once you have already bought a car or you have owned a car for sometime now, it is time for getting it insured.

Factors

Now, when we come to think of car or for that matter any there are quite a few factors that have to be considered before settling for a particular market offer. Analyzing these factors would determine which suits your needs the best. Or else you might end up paying too high premium or not taking enough coverage for your automobile. First of all one has to consider what is the purpose of owning it. Whether it is for personal use, used as public transport such as private taxi, or used in transportation of heavy duty or light duty industrial goods or is it put to some other use. Age is also a major consideration. Old vehicles have to pay higher premium as compared to the new one. Type and model of the vehicle also play a major role. Like wise there are N number of factors that need to be checked out.

Getting The Right Insurance

When you buy there are large numbers of sites that offer auto insurance on each site there are quite a few number of market offers. This makes online shopping for the right kind of auto insurance a tedious task. However, there are some sites that provide automated tools that assist you in determining what kind of auto insurance would work the best for you and how much coverage do you need. These tools or analyzer can go a long way in helping you save a whole lot of money on auto insurance.

Wrong auto insurance would leave you paying amounts that are too high and paying extra for coverage you may not need. On the other hand, if you choose amounts that are too low, you risk being uncovered in case of an accident. Thus, whether you’re shopping for new auto insurance or renewing your existing policy, Auto Coverage Analyzer can help you make the right coverage choices. All you have to do is answer a few question about your financial standings and your automobile conditions, price tag, coverage needs etc and the auto coverage analyzer would automatically generate coverage category wise auto policy value recommendations and explanation as to why is it needed.

Joseph Kenny
http://www.articlesbase.com/finance-articles/auto-coverage-analyzer-10626.html

Tags: , , ,

05Jun

Do I Need Gap Protection For My Car Loan ?

Filed in Low Cost Auto Insurance 5 Comments

Do you realize how much you are at risk financially if you wreck your car or it gets stolen? Your policy might not provide all the financial protection you need, if the value of your car is less than the balance of your . Gap coverage is designed to cover the difference between the value of your car when it was lost and the balance of your car loan.

This is also called Negative Equity. Having to continue to pay off your car loan every month, when you don’t even have your car anymore is probably not what you had in mind when you bought it.

Let’s say you lost your car in a hurricane or other disaster, one year after you purchased your car: Now let’s say you still owe $20,000 on your auto loan and your deductible is $500. Let’s also say your car was worth $15,000 at the time you lost it. The pays you $14,500. Then your Negative Equity or Gap is $5,500.

Gap Protection isn’t really insurance, it’s a Debt Cancellation Agreement. You could call it a waiver of the part of your auto loan contract that requires you to pay the difference between the value of your car and the amount still owed on your car loan. There are a few states that do consider Gap Protection a form of insurance, but most states do not.

Is Gap Protection for you? Talk to the person considering your auto loan. Car buyers who are putting little or no money down on a car may need Gap Protection. If you are transferring the balance of previous car loans into the current car loan or taking out an extended car loan like a 60 month loan you may need the extra protection. Any car buyer who will owe more than their car is worth needs Gap Protection.

You have to take figure out the expected depreciation on the car you are buying and the rate of equity accumulation through your auto loan. This will help you figure how big a gap you’ll have and for how long.

Some lenders or leasing companies include the coverage in the agreement for the their own protection. This is common in lease contracts. The decision to buy gap coverage is easy. Deciding who to buy it from is much more difficult.

You can get Gap Coverage for your car loan from your Credit Union or another lender, online sellers of gap protection, or your auto insurance company. Each option is different, so read on before you decide on an option.

On the Internet, it’s easy to explore these options. You can do a search for the information there or go to your favorite search engine like google or yahoo and use the keywords “gap protection” or “auto loan gap coverage”. Make sure that you check out any company you find on the web before you give them your credit card information. You don’t want to end up with a provider that won’t be there to help you cover the gap in your car loan if something happens.

Your Auto Insurance Carrier: Not all insurance companies carry gap protection for your car loan. Check with your agent. Check to see if they already included gap protection in your car loan and how much coverage they gave you. You may need more than they offer. The cost of gap protection is relative to the value of your car. The more expensive the car, the more it will cost, and the more coverage you need.

Also, very important to keep in mind. Your insurance company or other provider will continue to bill you for gap protection every month. It’s up to you to calculate and decide when you no longer need it. In other words you need to know when you will be out of the hole. You need to know when there is no longer a gap between the value of your car and the amount you owe on your car loan.

The Automobile Dealer or whoever gave you your car loan is another source for buying gap protection. This is done at the time you get your car loan so bring it up right away if you choose this option. Some lenders may let you purchase it later, but it’s best if you buy it when getting your loan. As soon as you drive the car off the lot, it becomes a used car.

The cost is normally a one-time charge, typically the same set price for all customers buying the same coverage. Buyers may roll the fee into the total loan amount and include it in the monthly loan payments. Dealerships usually do not have the best rate for gap protection. You may want to choose another option. The average price for gap protection through auto dealers is about $500. You may be able to get the same protection for your car loan through your credit union or bank for as low as $250.

Make sure your gap protection also covers the deductible. Look for other features such as automobile replacement or money towards a in the event something happens. So don’t let just price be your guide when choosing who to buy gap protection from.

Greg Lucas
http://www.articlesbase.com/automotive-articles/do-i-need-gap-protection-for-my-car-loan–106498.html

Tags: , ,

27May

Driving Records and Auto Insurance Rates

Filed in State Auto Insurance 7 Comments

The motor vehicles department in most states of the US has a special system using «points» that is applied to evaluate your driving record. Every time you are involved in a driving infraction (traffic violations, parking violations, accidents, drunken driving, etc.) you’re assigned with a certain amount of points. If the authorities prove that you are guilty in these cases, your driving record is summed with the appropriate point amount. The higher the point count, the worse your driving record is considered to be. Usually when you apply for an policy with a certain company, the insurer has the right to check your driving record within the state department. There are two reasons for doing so: 1. To see if you meet the company’s insurance standards (that affects the overall possibility of getting a policy at all) 2. To see how much risk do you pose for the insurance company (that affects the total cost of your policy) But don’t expect the point from the driving record to be automatically transferred to the insurer’s evaluation of your riskiness. Typically, have their own charts and points for determining your risk factor, and they usually vary from one company to another. Depending on the state you’re registered in, the insurer usually has the right to check your driving record at any point of time. But don’t expect insurance companies to run daily checks, because this procedure requires serious resources for frequent reviews. However, there are moments when you can be quite sure that your insurer will check your driving record. These moments are: * When applying for a policy in the first place * When requesting your policy to be changed (modifying coverage amounts, etc.) * When adding or changing the vehicle included in your policy * When renewing your In case the review of the record provides negative information on your , expect that your insurance rates are likely to be raised. Insurance companies usually have their own system of points to set the exact amount by which the rates will be increased. Different insurance companies exercise different systems, however they are typically based on the Safe Driver Insurance Plan, issued by the Insurance Services Office (ISO). The Safe Driver Insurance Plan includes all types of traffic accidents and uses a certain point value (from 0 to 4) to evaluate the accident according to its severity. According to the plan, the higher your score is in points the higher your insurance rates are. And the number of points you’re «rewarded» with is typically proportional to the increase in insurance rates. One way to improve your driving record (and lower your insurance premiums) is applying for a Defensive Driving Course. Quite often you can be imposed to take such s course in court after a serious accident or traffic rule violation. These courses teach how to drive safer and avoid accidents, as well as some useful tips on behavior both in the car and outside it. When you complete the course a certificate is issued and most insurance companies provide discounts for those who have such certificates. You can get auto insurance quotes with and without such courses to see how the rates differ. There are plenty of courses available to apply online, or you can check with your DVM.

David Mayer
http://www.articlesbase.com/insurance-articles/driving-records-and-auto-insurance-rates-725268.html

Tags: , , ,

16May

How Can Car Insurance Discounts Help Reduce Your Bills?

Filed in Low Cost Auto Insurance 3 Comments

Everyone wants to get the cheapest car insurance available dont they? The cost of running a car now is becoming scary, with the price of gas as it is, and its certainly no fund when the car insurance bill arrives to make it worse. What are some things you can do to reduce your car insurance costs?

There are quite a few things, but Id like to look at car . It is not well known but offer all sorts of discounts to car holders. These discounts help reduce the cost of the policy and therefore reduce your car insurance costs.

Although these discounts exist the car insurance companies dont immediately offer them to you however, and to get them you often need to ask. It is estimated that the insurance companies take millions of dollars in premiums each year which they would not if policy holders got all the discounts they were entitled to.

So here are a few ideas for you about discounts. Remember always to ask if you qualify for these, they vary from area to area and company to company.

No claims or renewal discount. Probably the most well known of all, a discount for having a clean insurance claims record. Over time, up to a certain point, your percentage discount will increase for a clean record.

Anti theft devices. Each year the car insurance companies pay out hundreds of millions of dollars for claims related to auto theft. Anything which reduces the risk that your car will be stolen will reduce their risk that they will need to pay a theft claim. So if you have an anti theft device this may well result in reduced premiums, if you ask about it.

Advanced driver training. A more skilled driver also results in reduced risk of accident. So if you have undertaken an advanced driver training course then this may well reduce your premiums, especially if you are young.

Often with things like advanced driver training and anti theft devices the reduction in premium can, over time, pay for the extra costs involved in getting these things.

Multi policy discount. The insurance companies want more business, and so if you have an auto insurance policy with them, and have a home insurance policy as well, you may well qualify for a discount on both by holding them at the same company.

Multi vehicle discount. Exactly the same as above. Hold policies for more than one vehicle at the same company and you may well get a discount.

Low mileage discount. If your vehicle only drives 5000 miles a year that reduces the risk to the . If you do few miles then let them know and see if you are entitled to a discount.

Thats just a few but Im sure you get the idea. The car insurance companies will reward things which reduce their risk or increase their business with discounts. But you often need to ask, they dont always volunteer them.

So when your next renewal comes remember to ask about discounts.

Peter Crump
http://www.articlesbase.com/automotive-articles/how-can-car-insurance-discounts-help-reduce-your-bills-50507.html

Tags: , , ,

16May

Online Homeowners Insurance Quotes

Filed in Free Auto Insurance Quote 4 Comments

In today’s fast-paced world it’s more important than ever to make an intelligent decision about your Home Insurance needs. That’s why the guys at Free Home Insurance Quotes we’ll give you the hottest options to make sure your investment will be protected. They strive to insure that you will save money by filling out a Home Insurance quote form. The process is very simple, fill out a short form that only takes about four minutes. They will then contact three leading in your neighborhood, they will contact you with a quote that will save you tons of money! Insurance companies want your business and they are willing to compete for it, when they compete you save. Thousands of satisfied homeowners cannot be wrong, go ahead and see for yourself. Now is the time to stop paying so much for your home insurance.

happen. Earthquakes, Fire, and Hurricanes have all been a major part of the daily news. With weather-related and even man-made accidents more prominent and costlier than ever before, the folks at Free Home Insurance Quotes invite you to take care of your greatest asset…your home. There are numerous ways you can cut your Home . Here are a few suggestions:

* Make sure you are receiving all of the home insurance discounts you deserve.

* Combine your home insurance coverage with your auto insurance policy. Companies discount your home insurance by as much as 20% for insuring both your auto and home with them.

* Raise your home insurance deductible. The standard home insurance deductible is generally $250, but a surprising number of people still carry a $100 deductible. You can save about 10% on home insurance just by increasing a $100 deductible to $250 and even more by increasing it to $500 or more.

* Home insurance discounts are often available if: You have Smoke detectors, fire alarms, ; If you are a Non-smoker; If you have made upgrades to your home, such as a new electrical wiring, new roof, or new plumbing..

*

These are just a few factors that influence your Home Insurance costs, many people are saving tons of money simply by filling out a short home insurance quotes form.

Brandon Miller
http://www.articlesbase.com/advice-articles/online-homeowners-insurance-quotes-60320.html

Tags: , , , Agents and Marketers, ,

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