Nov 11
adminArticles Benjamin Franklin, Bundles Of Joy, Cause Of Death, Certainties, Childbirth, Collisions, Death And Taxes, Escape Velocity, Family Budget, Gone With The Wind, Inescapable Fact, Insurance Policy, Insurance Premiums, Jack Robinson, Margaret Mitchell, Own Insurance, Safety Record, Straight Roads, Teen Drivers, Traffic Accidents
There used to be only two certainties in life, at least according to Benjamin Franklin, namely death and taxes. Margaret Mitchell then added a third in Gone With the Wind, i.e. childbirth. Following birth, those adorable little bundles of joy start to grow and, before you can say, “Jack Robinson”, they’re teenagers and the fourth certainty hits you straight between the eyes. Every teen expects to drive. No matter how much you try to deny this reality, it’s unavoidable and the results will threaten your family budget. With the recession showing no sign of going away anytime soon, everyone is living with the threat of unemployment. If the pay checks stop coming in, keeping up the mortgage or rent is going to be a challenge. So, when you have any spare cash, you’re paying down your debts. The more flexibility you have on the credit cards or with the bank, the better. Except, there’s this inescapable fact. If you get quotes for adding your teen to your own insurance policy, your rates are going to take off like a rocket with escape velocity to reach the moon.
If you’re really lucky with where you live and have a perfect safety record, the rate might only go up by 50%. That means you live in the middle of a flat prairie with straight roads and only a few trees and fences to aim for. With little traffic on the roads, the chances of an accident are small. Nevertheless, teen drivers rapidly develop a flair for exploring off the side of roads or entering unofficial demolition derbies. Now think about those parents who live in cities and their ZIP code is not the best in the world. With such an address, you can find your premium rates going up by as much as 200%. Yes, this is unfair but it also reflects the hard reality that traffic accidents are the biggest cause of death among teens. No disease can match the lethal quality of collisions. Hundreds of thousands of our young are killed or injured every year and the insurance premiums reflect this. So what can you do to reduce the cost?
The best place to start is with a safety course approved by your current insurer. Except, this is going to be a battle. Teens tend to believe they have superpowers and cannot be injured in an accident. They will be hostile to the idea of a course when it has some twenty to thirty hours in a classroom plus time with an instructor. The longer the one-to-one time with an instruction, the higher the course fee. The most expensive are around $500. But, if your teen is certified as doing well on the course, you can expect a reasonable discount on the premium rate. So, let’s say your current premium is $1,500 a year and it will increase by 50% to $2,250 but you earn a discount of 15%, i.e. $337.50. Any course fee less than that pays for itself within the first year. This may not be cheap auto insurance, but it will hopefully help your teen drive more safely. When you get the auto insurance quotes, check out which courses are approved and what discounts are available.
Aug 30
adminArticles Car Seat, Child Car Seats, Child Safety Devices, Collisions, Elegant Solution, Foam Pad, Frontal Airbag, Independent Studies, Initial Payment, Insurance Companies, Insurance Money, Insurance Premiums, Insurance Savings, Insurer, Leds, Neck And Back Injuries, Price Efficiency, Safety Features, Turn Signals, Whiplash
Extra safety features are often very inexpensive upfront and mean long-term savings on insurance premiums.
Before getting these features, talk to your insurer to make sure you will get a discount.
We have provided a price efficiency rating to let you know the ratio of upfront cost to insurance savings. The higher the price efficiency rating, the sooner you will make up the cost with insurance savings.
Add On Headrest
Protects against whiplash, head, neck, and back injuries. This is essentially a foam pad that attaches to the front of your headrest. It will allow you to rest your head while driving, rather than having to keep in hovering 6-inches from the rest.
Right now, your options are either to hold your head hovering without rest or to sit completely erect at a 90-degree, L-shape.
The add on headrest is an elegant solution to that problem that will really save your neck in a crash. Independent studies have proved it!
Plus, driving is just more comfortable.
Price Efficiency Rating: 7 – Will become higher as more insurance companies do their own studies on its effectiveness in reducing injury.
Signal Mirrors
These side mirrors flash LED turn signals so that it is clearer to other drivers that you are turning. There will be fewer collisions this way. Plus, the LEDs are very energy efficient, long-lasting, and cute!
Price Efficiency Rating: 5 – Installation can be pretty costly.
Child Car-seats
Getting the right child safety devices in your vehicle can save you big insurance money. If you ask your agent to recommend a car-seat, they may actually be able to offer you a discount because they know your child will have a much smaller chance of injury and death.
If your child’s improved safety isn’t a big enough reward, the savings will be!
- Rear-facing seats are best, but never put them in front of an active frontal airbag
- Do not incline seats more than 45 degrees
- Connect all the straps and harnesses correctly
- Pay attention to the expiration date on the car-seat
Price Efficiency Rating: 5-9 – Getting the best seat money can buy is better protection for your child and saves you more in the long run.
Sensors and Cameras
While these futuristic features are commonly thought of as expensive add-ons for luxury vehicles, they are becoming quite inexpensive as people and insurers realize they have huge safety and savings bonuses. As more statistics become available, insurers are seeing the proof that these features really do prevent many crashes and collisions, which means bigger discounts and lower rates as you get into fewer incidents.
- Lane-departure warning
- Front-collision warning
- Blind-spot detection
- Electronic stability control
Price Efficiency Rating: 5 – Once costs come down, this efficiency rating may well soar to a 10! For now though, it may take a year to recoup costs. However, if it saves you from a collision, which it very well might, you’ve instantly got your money’s worth.
Car Insurance Quotes
If your current insurance provider doesn’t give you significant discounts for extra safety options, consider switching. Car insurance quotes will help you find a more affordable provider. You can even compare policy details and rates from the best insurance companies in minutes using online car insurance quotes.
Apr 06
adminInsurances Animal Pet, Breeding Records, Deductibles, Exotic Animal, Exotic Bird, Guide Dog, Health Insurance, Human Health, Insurance, Insurance Policy, Insurance Premiums, Maximum Payouts, Mortality Insurance, Pet Health Insurance, Pet Insurance, Pet Owners, Racehorse, Routine Examinations, Routine Veterinary Care, Types Of Insurance, Veterinary Bills
Whether you want to protect yourself from the financial loss that could result from the death of your prize-winning racehorse, or you simply want to make your golden retriever’s veterinary bills more affordable, you may want to look into purchasing some form of pet insurance. For the most part, pet insurance refers to two types of insurance: mortality insurance and health insurance. These two types of pet insurance may be sold as separate components or together.
Pet mortality insurance
Most of us own animals purely for companionship. However, if you own an animal that has financial value to you (a racehorse), is rare (an exotic animal), or is specially trained (a guide dog for the blind), you may want to consider purchasing pet mortality insurance.
Pet mortality insurance is similar to life insurance for humans. You (the owner) would take out a mortality insurance policy in an amount equal to the value of your pet’s life.
(For example, if you purchased an exotic bird for ,000, you would insure the bird for that amount.) When your pet dies, you would collect on the policy.
The cost of pet mortality insurance is usually calculated as a percentage of the value of the animal. So, when you purchase a policy, you’ll need to show documentation (e.g., breeding records) that substantiates the value of your animal.
Pet health insurance
When an animal is seriously injured or has a life-threatening illness, pet owners are often forced to choose between paying high veterinary bills and euthanasia. Even routine veterinary care (e.g., vaccinations and physicals) can add up, especially if you have more than one pet.
As a result, an increasing number of pet owners are purchasing pet health insurance to help pay for the cost of veterinary care.
Just like human health insurance, pet health insurance has annual premiums, deductibles, co-payments, maximum payouts, and pre-existing condition limitations. Policy types vary and cover a wide range of veterinary care, from routine examinations to treatment for serious illnesses like cancer.
The cost of pet health insurance depends on different factors, such as species, age, and type of policy, but may be less expensive than paying for veterinary bills on your own. And you may even be able to get a reduced rate if you insure more than one pet with the same company.
Where can you get it?
Pet insurance is a relatively new insurance product. However, an increasing number of insurance companies are getting involved in the pet insurance market, and some employers are even offering it as an employee benefit. If you’re interested in obtaining pet insurance, ask your veterinarian or local breeder’s association, look in pet magazines, or search the Internet for more information.
Mar 10
adminArticles Business Insurance, Cars, Decisions, Insurance, Insurance Premiums, Long Time, Matter Of Time, Saving Money, T Pay, T Rush, Urge
Many of us want and need certain services. We know the reasons why we do and they seem totally reasonable. But when we think of the cost the urge disappears. Yes, we don’t like to spend money especially on something that we think we can live without. When it comes to insurance everyone knows that it is way better to have it than not to have it no matter how much it costs.
Making the prices drop is never easy. You can try to negotiate but sometimes it doesn’t work. It is a matter of time and not an easy thing to do. Your business insurance premiums can be lowered but it is constant fight. Before you do anything about your insurance premiums please take some time off to consider your actions. Don’t rush into any decisions. One day won’t change lots but can make a big difference in payments. You can review your premiums annually. Let us tell you how you can make it less “expensive” for yourself:
First of all you should have all the copies of all the policies available to you. You should have an insurance file and you should know to start one if you do not have it by now. There should be all copies attached to your file, this is necessary in case some documents get lost or destroyed.
You should check if your business still owns the cars listed in the insurance. All the equipment that was put it should be checked too. What if half of it is not even with you anymore? It will be sad so let’s not risk. This can cost you less money if you check everything you had on the list carefully and attentively.
Please make sure you check the list of the employees. If some of them are still on the list while working for another company for a long time it will be upsetting for you, believe us. Also make sure the names are written correctly.
Sometimes you get coverage and you think you need it. But the necessity for it disappears with time. You no longer need this type of coverage so just drop it! Don’t pay money in vain or be lazy to change something. This is your money. Choose a different type, the one that suits you the most.
You should work to have a good result and a good result is money and safe environment. Remember that. Also keep in mind that the premiums are usually based on the type of workers used for the business. If you are working for somebody make sure you are classified into the right category of people, if you are the owner of the company it is your interest to make a good classification. This will also result with money saving.
You should only talk and communicate with professional people. Don’t speak with everyone about your premiums. Get business insurance quotes. If you have some questions or doubts – please address them to a good specialist. He will give you comfort and support when you are worried and will cheer you up with a solution when you are down.
You should become an activist and set a good example for people. Not only will it give you additional money but will also give some other benefits. Quit smoking; adopt this policy in your company. Start practicing yoga and set this example for people to follow. Becoming a member in such organizations makes total sense.
You should also go for business insurance quotes. They will have lots of information for you. Remember to get them as soon as possible.
Mar 03
adminLife Insurance Cash Value Insurance, Cash Values, Death Benefit, Different Kinds, Dying Day, Evidence Of Insurability, Financial Resource, Guide, Insurance, Insurance Company, Insurance Coverage, Insurance Guide, Insurance Life, Insurance Premiums, Length Of Time, Life, Life Insurance Policies, Life Insurance Term, Period Of Time, Rest Of Your Life, Self Insurance, Term Insurance, Term Policies, Ultimate
Life insurance policies are NOT created equal. Some provide coverage for the rest of your life until your dying day while others cover you for a specific length of time (years). Some policies build up cash value and others don’t. Some combine different kinds of insurance and others will allow you to change from one type of insurance to another. Some may offer some other benefits while you are still living, called “living benefits”.
There are TWO basic types of life insurance… “Term” and “Cash Value”
Term insurance has lower premiums (what you pay) in the early years of owning the policy, however DOES NOT build any cash values that you can use as a financial resource in the future while you are still living. None. The benefit of term insurance is the lower premiums.
You can however, COMBINE term insurance and cash value insurance for the period of time that your family would have the greatest need to replace your income.
An example of this would be to help your family raise the children, should you die before they are old enough to be self-sufficient.
Term insurance simply provides coverage for a term of one or more years. It provides a death benefit only during the specified term and pays nothing once the policy expires or if premiums are not paid.
Term insurance typically offers the most bang for the buck… the most coverage for the smallest amount of premium.
You can renew most term policies without providing what is called “evidence of insurability”. This means, that if you get deathly ill at the 9 year mark of a 10 year term policy, you can simply renew the policy by continuing to pay premiums and you won’t have to prove that your health is in good standing as you did when you first took out the policy.
Keep in mind, that each time you do renew the policy your premiums will go up.
Be sure to ask your agent or insurance company exactly how much the premiums will go up when you renew the policy. Check to see if you’ll lose the right to renew the policy at a specific age. For a higher premium, some insurers will allow you the right to have the policy in force for a period that is guaranteed to be the same each year. You would of course have to provide evidence of insurability at renewal time, under that type of policy.
During a conversion period, you may be able to trade a term for a whole life policy, or if you have a “convertible” provision in your policy, you may be able to convert your temporary insurance to permanent at any time.
Cash Value Life Insurance is a kind of life insurance where the amount of premium you pay is higher in the beginning for the same death benefit (face amount or face value) of a term policy. The part of the premium that you pay isn’t used for the actual cost of the insurance, but rather is invested by the insurance company. This invested amount builds cash value that can by used by you while you are still living in a variety of ways.
You can take out a loan against the cash value. If you don’t pay it back, the amount borrowed against the policy will be deducted from the face value of the policy upon death. You can also use the cash value to keep some insurance protection in force for a limited period or to purchase a reduced face amount without having to pay any more in premiums (paid up).
Cash Value Insurance is known as whole life, universal life or variable life and each of these different types of cash value policies have differences.
Whole Life Insurance provides protection for as long as you live (your whole life) so long as your premiums are paid. The premiums are generally guaranteed and never change. Some whole life policies are paid up in a specific period of years. This is commonly known as “20 pay life” or “10 pay life”. These policies are generally for children as the premiums for this type of policy can be very expensive in later years.
Universal Life Insurance is a flexible policy that allows you to vary your premium payments. The face amount of the policy can be adjusted by the policy owner. Increases in face amount will generally require a health checkup to make sure you’re not getting the additional coverage due to health concerns. A part of your monthly premium covers the cost of the insurance (insurance portion is always Annual Renewable Term) and the other part of the premium goes into a separate cash account. This separate account is used for investments by the insurance company and pays interest to you. Or, if the separate account doesn’t earn money from investments, you can lose money. If this amount continues to drop and becomes negative, you will lose your coverage.
Variable Life Insurance is a type of policy where the death benefits (face value) and cash values are dependent upon the performance of investments made by the insurer in one or more separate accounts. These may be mutual fund investments, real estate accounts, bond accounts and others. Be sure to carefully study the prospectus offered with this type of policy. With variable life, you may have to pay a higher premium for a guaranteed death benefit.
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