|
|
|
Cheap Insurance - Ten Tips
Cheap insurance? Auto insurance, life insurance, health insurance, liability insurance - whatever type of insurance you need, you can buy it for less. Try the following: 1. Raise you deductible. Why have a $100 deductible if a $1000 deductible...
Dental Insurance
Dental costs are becoming an increasingly significant health
care expense and more and more people are making sure they are
protected against these costs with a dental insurance policy.
Dental insurance policies typically work in the same way as...
Moneynet promotes greater financial understanding for consumers with new life insurance product guide
Moneynet.co.uk, the UK’s most established personal finance research and data website, has published the latest edition in its series of online product guides to help consumers get to grips with the increasing complexity of personal finance products....
Student Health Insurance
Health insurance is increasingly important. With the rate at
which medical expenses have continued to rise over previous
years, and the reductions in government funded health care
programs, being without health insurance is less an option...
What You Need To Know About A Car Insurance Adjuster?
If you're in need of a car insurance adjuster then there are a few facts you should know before you meet with him/her. The first rule of thumb is that if your car insurance adjuster is over friendly remember, he is there to save money for the...
|
|
| |
|
|
|
|
|
|
Buying Auto Insurance (Part 2 of 4)
Continued from Part 1- (Part 2 of 4)
11.Personal Injury Protection (PIP): Covers the treatment of injuries to the driver and passengers of the policyholder's vehicle. At its most extensive, PIP can cover medical payments, a part of the lost wages of those injured in an accident, and a death benefit. It may also extend to covering the policyholder if he/she is injured while in another vehicle or is hit by a car while on foot. It can cover members of the owner’s family household. It pays for medical expenses only in some states, but in most states it also covers wage loss (with significant limitations) and a limited death benefit. Note: THERE IS NO COVERAGE FOR PAIN AND SUFFERING, lost opportunities, inconvenience, or emotional distress. PIP is similar to medical payments coverage, only it usually covers a broader range of events, including medical bills, lost wages, loss of services, etc. It is required in most no-fault states.
12.Wage Loss PIP payment: Pays part of wages not earned due to claimant's inability to work as the result of an injury that are covered under the personal injury insurance policy. But please note the common restriction: this clause usually only kicks in after an absence from work of two consecutive weeks, and then, it pays only a percentage—usually 85%— of the actual lost wages.
13.Medical Pay (MED/PAY): This policy pays the medical bills of the covered driver, family members, and passengers when injured in an accident, regardless of who was at fault. This coverage is required in some states, but not in others.
14.Collision Coverage: This policy helps pay for repairs or fair market replacement cost if your car is damaged in an accident caused by you or an authorized driver. This policy is always optional.
15.Comprehensive Coverage: This policy covers the cost of repairs to or replacement of your vehicle should it be stolen, vandalized, struck in a hit-and-run, or damaged by an "act of God." Covered events vary from policy to policy but usually include fire, flood, and falling objects. This policy is always optional.
16.Deductible: It's the amount of money that you agree to pay before a certain auto insurance policy kicks in. Deductibles are designed to cut down on insurance costs by eliminating small or frivolous claims. The higher the deductible you're willing to pay, the lower the premium you earn. Collision and comprehensive policies almost always carry deductibles, and sometimes PIP and medical payments policies do too.
17.Actual Cash Value: ACV - An insurance valuation method used for automobiles which is based on the cost of repairing or replacing the damaged auto with one of like kind and quality, or its replacement cost less physical depreciation. The replacement cost is based on market value replacement cost, which varies by geographic region.
18.Fair Market Value: The price determined by the marketplace. It is the price a willing and qualified buyer will pay to buy, at which a willing seller will sell. Note that the asking price of ads is not necessarily the market price.
19.Exclusions: Situations that are not covered by a given insurance policy; specific exclusions are listed on your insurance policy.
20.Upside Down Financially: It is being in a position where you owe more on your car than its actual value. Consider the effect of “showroom depreciation”, which means that when you drive the car off the dealer’s showroom floor, the fair market value is substantially less than the purchase price. Thus, the
amount you own for the loan balance often exceeds the fair market value of many newer motor vehicles.
21.Gap insurance: This optional policy insures the driver of a new car for the difference between the car's financed value and its fair market value. Should the car be "totaled" during the first few years after purchase, the owner will be covered for the amount still owed on the car, rather than it's market value (which is often much lower). Because it covers only the difference in value, this is a relatively inexpensive policy.
22.No-fault insurance: A no-fault policy usually will not require that someone be assigned the blame in order for the policyholder to receive his/her money. In no-fault states, insurance companies are required to have this type of policy. “No- fault insurance" is a general term that is used to describe any auto insurance system that both requires drivers to carry insurance for their own protection, and that places limitations on their ability to sue other drivers for damages. In an accident, under no fault laws, your auto insurance company will pay for your medical damages (up to your policy limits), regardless of who was at fault for the accident. Any other drivers involved will be covered by their auto insurance policies. Under a pure no fault system, drivers would be completely covered by their own policy, and would be barred from ever suing another driver for damages. However, no state uses a pure system. Instead, all "no fault" states actually use parts of both the no fault system and the standard liability system (under which you're financially responsible for the cost of damages you cause). States do this by permitting lawsuits in certain cases.
23.Rental car reimbursement coverage: It's an optional policy endorsement that helps pay the cost of renting a car while your auto is being repaired for a covered event. (This means you usually need to carry collision and comprehensive to qualify.) Your premium is decided by the amount of reimbursement you want per day.
24.Emergency roadside assistance insurance: It's an optional policy that covers the cost of towing or immediate roadside repair (like fixing a flat or jump-starting the battery). It does not cover the costs of any repair done at a garage or service station, however. Consider AAA-type coverage instead.
25.Towing: This is an inexpensive add-on that provides towing and limited storage after an accident. No need if you have AAA-type coverage.
26.SR-22 filing: A document that shows proof of financial responsibility in the case of a traffic violation. The SR-22 is actually a form that high-risk drivers may be required to file with the state before they purchase car insurance. It requires the provider to notify the state should the policy be terminated or canceled. DUIs, multiple speeding tickets, and driving without insurance or valid license are all reasons a SR-22 may need to be filed.The requirement usually lasts for three years after the initial event.
27.Umbrella policy: It is additional liability coverage that goes "over" your auto liability limits, homeowner’s liability, boat liability, etc. Carrying an umbrella policy is a good idea for drivers with considerable assets to protect. You usually have to purchase the maximum auto insurance coverage (or near to it) before you can buy an umbrella policy.
On to part 3
About the Author
Jeanine Steele is an editor with SettlementCentral.Com, the online resource for do-it-yourself personal injury claims.
|
|
|
|
|
| Insure.com Car Insurance Quotes, Term Life Insurance Quotes, Auto ... |
| Insure.com provides instant online car insurance quotes, term life insurance quotes, auto insurance quotes, health insurance quotes, home insurance quotes, ... |
| www.insure.com |
|
| Insurance Information Institute (III) |
| Attempts to improve public understanding of insurance -- what it does and how it works. The site is subdivided into sections for "Individuals" (consumer ... |
| www.iii.org |
|
| State Farm Insurance Companies |
| Provider of auto, health, home and life insurance. Get quotes and agents listings. National headquarters. |
| www.statefarm.com |
|
| Allstate - Official Site - Auto Insurance, Home Insurance ... |
| Offers insurance for autos, homes, property, life, mortgage protection, and business. Site includes many useful calculators and tools, an agent locator, ... |
| www.allstate.com |
|
| Progressive Auto Insurance - Car Insurance Quotes Plus Boat, RV ... |
| Provides instant online auto insurance quotes, insurance rate comparisons. Offers motorcycle, RV, boat, or car insurance. Purchase insurance online. |
| www.progressive.com |
|
| Insurance - Wikipedia, the free encyclopedia |
| It cannot put the insurance company in financial jeopardy. ... If the insured does not perform then the insurance company does not have to perform. ... |
| en.wikipedia.org |
|
| Cheap annual travel insurance | single trip holiday insurance quotes |
| Cheap quotes for annual travel insurance and single trip holiday insurance online with moneysupermarket.com. Over 450 policies compared in seconds... |
| www.moneysupermarket.com |
|
| California Department of Insurance |
| Works to foster an insurance market that is fair, competitive and accessible to all Californians. Site designed to assist consumers, aid in the licensing of ... |
| www.insurance.ca.gov |
|
| Insurance: Car, Auto, Life, Home, Business and Investment Services ... |
| Nationwide offers insurance and services including: car insurance, auto insurance home owner insurance, business insurance as well as investment services. |
| www.nationwide.com |
|
| GEICO Car Insurance. Get an auto insurance quote and save today ... |
| Offers auto and motorcycle insurance. Request quotes online or by phone. File claims online. |
| www.geico.com |
|
| Insurance Center - Yahoo! Finance - Find the Right Insurance for ... |
| Insurance Center - Protect and insure your assets with comprehensive resources about auto, home, health and life insurance. |
| insurance.yahoo.com |
|
| Compare Auto Insurance Quotes from Top Auto Insurance Companies |
| America's #1 online insurance agency. Compare instant auto insurance quotes, car insurance quotes, life insurance quotes, home insurance quotes, ... |
| www.insurance.com |
|
| Car Insurance, Home Insurance, Travel Insurance, Life Insurance UK |
| Provide travel, home contents and car insurance for professionals, graduates and students. |
| www.endsleigh.co.uk |
|
| Home Insurance Quotes, Car Insurance Quotes - Lloyds TSB Insurance |
| Home Insurance Quote, Car Insurance Quotes, cheap Travel Insurance, Pet Insurance, Business Insurance. Up to 15% discount for buying insurance online. |
| www.insurance.co.uk |
|
| Car insurance, Home insurance, Life insurance & more - Direct Line |
| Direct Line offer car insurance, home insurance, life insurance, travel insurance, mortgages, personal loans,breakdown cover and much more! |
| www.directline.com |
|
| PA Department of Insurance |
| State regulatory authority. Site provides information for consumers, producers, and the insurance companies themselves. |
| www.ins.state.pa.us |
|
| Texas Department of Insurance |
| Regulates the state's insurance industry, encouraging competition to make insurance available and affordable. [some content available in Spanish] |
| www.tdi.state.tx.us |
|
| Life Insurance (U.S. Department of Veterans Affairs) |
| Informationa about all Life Insurance programs administered and supervised by VA. |
| www.insurance.va.gov |
|
| Insurance for Canada and the United States by RBC Insurance |
| Specializes in life, health, travel insurance, and annuities for middle income families in Canada and the United States. Site offers individual, family, ... |
| www.rbcinsurance.com |
|
| Free Auto, Health, Life and Homeowners Insurance Quotes - MSN Money |
| Get free auto, health, life and homeowners insurance quotes from top insurance companies in the country. Find the latest news and information related to ... |
| moneycentral.msn.com |
|
|