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5 Strategies To Reduce Your Car Insurance Premiums
Your latest car insurance bill has arrived and it is not a pretty site. In fact, it is downright ugly! What can you do? Must you remain hostage to the ever spiraling rate increases foisted upon you when your policy renews? In a word, no. Let's...
Buy Life Insurance Online and Save!
There are many ways to research and buy a life insurance policy, but the fastest and most affordable way is to buy life insurance online. This way, you can supply the most accurate information and compare the greatest number of different quotes and...
Everything You Need to Know About Life Insurance
Life insurance is a type of protection that can be bought and insures the buyer in the event of death. The risk that is assumed by the insurer is the risk of death of the insured. Life insurance is a very good purchase in order to protect a family,...
"What Every Employer Should Know When They Can No Longer Offer Health Insurance Coverage"
An astounding Seventy Percent (70%) of Small Businesses in America today do not provide health Insurance coverage for their employees. In most cases, it's not that they don't want to but because their business can no longer afford to provide such...
What Is Homeowners Insurance Coverage?
Before attempting to find the best homeowners insurance coverage you should make sure that you are familiar with what homeowners insurance is and what it can do for you. A standard policy provides financial coverage to your house and the property...
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Insurance: The Common Insurance Points
Most people will be familiar with insurance in some form or
another. We all have taken out home insurance, car insurance or
credit insurance among others. Insurance contracts are long and
complex documents with a lot of small print. Sometimes even a
lawyer would get lost in the complexities involved in them.
However, there are a few features that all insurance contracts
must have in common.
All insurance contracts will cover a chance event that may or
may not occur. This is the risk you are insuring against. The
event may be a fire in your home, a car accident, medical costs
or virtually any other event. The sole exception to this is life
insurance, which covers your death. This is an event that is
bound to occur, however, it is the timing of death that is
uncertain here.
There must be some quantifiable economic loss. Insurers will
take on risks, but they must be able to quantify and predict the
loss involved. The insurance company must be able to know
roughly what kind of loss will be involved should the event
occur. The loss must be quantifiable in monetary terms. For
example, you may be able to insure yourself for medical expenses
or a new car, but not for the sadness you experience as a result
of an accident.
The loss must be definite. Again, insurers must know what kind
of financial risks they are taking one; otherwise they will not
be able to set the price of the premium.
The loss must be significant. The financial cost of the insured
risk must justify the administrative costs of the insurance
contract. Suppose you want to insure a racehorse. Someone will
come from the insurance company, assess the value of the horse,
write up a contract stating what's covered and what conditions
you must meet, calculate the premium and issue the contract.
This will be worth all the effort for a valuable racehorse.
However if you wanted to insure your goldfish, it would be
difficult to justify the effort involved in setting up the
contract.
The loss must not be catastrophic. What is catastrophic will
depend on the size of the insurer and the assets they have
available. But the insurance will not be worth anything if the
loss is more than the insurer could afford. For example,
insuring against an earthquake will often be impossible as the
losses, should the event occur, would be impossible for the
insurance company to ever pay out.
About the author:
Joseph Kenny is the webmaster of the insurance site http://www.insure121.com/
where you will find information, news and links to the leading
providers of insurance in the UK. If you found this article
interesting you may find more articles of the same nature in the
insurance
guide located on site.
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| Insure.com Car Insurance Quotes, Term Life Insurance Quotes, Auto ... |
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| 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 |
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