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4 Travel Insurance buying tips for seniors

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With more travelers choosing to spend their golden years abroad, Squaremouth shares 4 travel insurance buying tips for seniors.

Determine Your Coverage Needs
When shopping for a policy, travelers should first decide how much coverage they need for their trip. Medicare does not provide coverage outside the U.S., so for many seniors, the most important travel insurance benefits are Emergency Medical, which can pay travelers back for their medical costs while abroad, and Medical Evacuation and Repatriation, which can transport travelers to the hospital in an emergency or transport remains home.

Travelers can also get their trip costs back if they need to cancel or end a trip early due to a sickness, injury, or if a family member passes away unexpectedly.

Pick The Least Expensive Policy
Unlike many other types of insurance, when it comes to travel insurance, a higher price tag doesn’t necessarily mean better service or better benefits. Policy premiums are based on the traveler’s age, trip length, and trip cost, and insurance providers price their products to be appealing to the demographic the particular product is aiming for.

For example, some policies are designed to appeal to seniors and may be less expensive for that age group, while other policies may be marketed toward students and will be lower in price for younger travelers. The best way for travelers to find the least expensive policy that fits their needs is by shopping around and using a third-party comparison site, such as Squaremouth.com, to compare premiums and coverages.

Consider A Pre-Existing Condition Waiver
Senior travelers should pay attention to Pre-Existing Condition coverage. Pre-existing medical conditions are always excluded by travel insurance, unless travelers get the Pre-Existing condition waiver. This waiver is not an additional cost, however, it’s only available during the first 14-21 days after the traveler made their first trip deposit, depending on the policy. Additionally, some policies require travelers to insure 100% of the trip cost to be eligible for the waiver.

See Full Story at www.prnewswire.com

Tips to save cost on your homeowner’s insurance

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Cutting expenses is a great place to start, and you can do so by cutting your homeowner’s insurance premiums.

Want to find out how to do that and save money? Read these tips to find out.

1. Get a Higher Deductible

Your insurance rate depends on your policy. Your policy may already include discounts and it’s largely dependent on how much you’re responsible for in the event of a claim, and how much your insurance company pays.

2. Have Other Policies with the Same Provider

It pays to be a loyal customer of an insurance company. Seriously, insurance companies always offer discounts on their insurance products if you bundle your homeowner’s policy with your auto insurance or other insurance policies.

3. Know What You Really Need

Insurance policies can be pretty complex and difficult to understand. You may have policy coverage for things that you don’t need.

4. Make Smart Upgrades

If you’re struggling to make ends meet and need to lower your monthly payments, you’re probably not thinking about making major repairs or upgrades to your home. It seems a bit counterintuitive to spend money to save money.

See Full Story at azbigmedia.com

Tips for Comparing 2 Car Insurance Quotes

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Comparing online quotes is, undoubtedly, the best way to check the market and look for better deals. The introduction of rates calculators, interactive interfaces and online price estimates has helped many people track offers with better prices and multiple benefits. But first, learn how to compare 2 or more prices and make a wise selection. 

  •   Make sure that the quotes are obtained for exactly the same products. The online user must ensure that he quotes the same products. For example, if he chooses full coverage in a questionnaire, he must choose full coverage in all other websites. If he wants a fair comparison, of course. The same thing should be done with other important coverage options, like PIP coverage, deductibles and extra services.
  •     Use the same data. Make sure to add the same info about the driver and the vehicle. Even sub-model data is really important. The price difference between sub-models can be pretty high. Having car’s paperwork when getting quotes can be really helpful. . Furthermore, provide the same info about existing safety/anti-theft devices or graduated defensive driving courses.
  •     Provide accurate estimates. Estimating the annual mileage is up to the driver. Some questionnaires may ask to provide an annual mileage, while others will let the driver select between several limits. Choose the same range/limit for all insurance websites
  •     Get quotes from trustworthy companies and websites. It is recommended to do some research before shopping online. Check which companies are top rates and which brokerage websites are known to be working with top quality insurance providers.

See Full Story at cheapquotesautoinsurance.com

Follow these tips to avoid your insurance claims from getting rejected

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As all insurance policies come with their own terms and conditions, coverage of the same insurance policies also varies depending on the insurance company.

Hence, there are certain things that you should refrain from doing if you want to avoid your insurance claims from getting rejected.

1. If you have a motor insurance policy, in case of regular wear and tear or breakdown you will not be covered. Insurers only provide cover for losses caused by the impact of natural calamities. For instance, the motor insurance policies generally cover for losses caused by natural calamities such as floods, lightning, landslide, cyclones, earthquakes, hurricanes, storms, inundation, and typhoons.

2. If your car engine stops due to waterlogging which is referred to as the hydrostatic lock of the engine, the basic motor insurance policy does not provide coverage for that. It is not covered under an insurance policy because insurers consider this as negligence on the part of the policyholder and hence, reject the claim. However, policyholders can also get this covered by opting for an engine-protect add-on cover. Generally, this type of add-on covers costs around 7-9 per cent of the base premium.

3. If you fail to provide both sets of keys of a vehicle, in case of vehicle theft, it will be taken as negligence on your part. Lack of evidence, incomplete or incorrect documentation also leads to claim rejection. Experts suggest policyholders should file an FIR in case their car is stolen or if any third party accident is involved.

4. Most property claims get rejected due to non-disclosure, misrepresentation, and fraudulent acts. Negligence on the part of the policyholder plays a big role in claims being rejected. Policyholders should familiarise themselves with their insurance policies and know the risk that is included and the excluded so that it doesn’t come as a surprise later.

By: Priyadarshini Maji

See Full Story at www.financialexpress.com

Tips on How to Get Cheap Car Insurance

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Making insurance expenses more tolerable may seem a daunting task. In fact, it is not as hard as many may think. Drivers are recommended to analyze and apply the following tips: 

  • Install safety gear. Insurance companies rely on safe drivers to make them a profit in the long run. Drivers who install safety devices are eligible for a discount. The value of the discount varies by company, but it is a discount which is easy to obtain. Talk with a rep about which devices qualify for this discount.
  • Graduate a defensive driving course. Persons who graduate approved defensive driving courses will benefit from discounts. Furthermore, they can offset several license suspension points. When getting online quotes, some questionnaires will ask if the driver attended these courses or is he willing to attend.
  • Customize coverage parameters. Online forms allow drivers to customize multiple coverage settings, including liability coverage limits, deductibles, extra services (like rental coverage or roadside assistance) and payment options. Paying-in-full or selecting high deductibles will save drivers a lot of money. Online tools allow drivers to simulate different coverage options and update price estimates.
  • Bundling can save policyholders a lot of money. Insuring more than just the car with the same provider is a smart way to save money. Online questionnaires ask if the user lives in his own home or rents it. Then the questionnaire will show that they can save a certain percentage (which varies from 5% up to 20%) on both auto and home insurance.

See Full Story at www.prweb.com

Insurance Experts Explain How To Handle A Coverage Lapse

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Insurance companies prefer working with clients that maintained continuous coverage. Clients who let their policy expire or forget paying premiums are considered high-risk. Policyholders will pay more expensive future premiums as a result of their negligence.

There are many reasons why a person may cause a coverage lapse. The most common reason is forgetting to pay the premiums on time. This also happens when the driver changes the carrier, but he does not synchronize the expiration date of the older policy with the start date of the new coverage.

When discovering a coverage lapse, it is important to act quickly. The more time passes, the harder and more expensive it becomes to be reinstated. The procedure for reinstating coverage differs for each carrier. Some companies may renew the coverage, while others will ask the client to reapply for auto insurance and basically, start a new coverage. Some companies may require the client to apply for electronic payments, in order to avoid missing payments in the future.

See Full Story at markets.businessinsider.com

Tips to cut down the cost of bike insurance

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While you cannot skip buying bike insurance, there are a few tips and tricks that you can use to cut down on the cost of the bike insurance. Here are a few:

  • Buy online: This is one of the easiest ways to reduce the premium of a bike insurance policy. Buying bike insurance online is cheaper than buying it offline any day of the week. When you go online, insurers do not have to pay intermediaries for selling policies. Thus, you get to keep those benefits.
  • Add-Ons: Choose add-ons for your bike only if you need them. Going through the list of add-ons and doing a quick feasibility search would help you save money on add-ons. Opt for them, if you feel there is a genuine need for the same.
  • Riding Association: There are a few riding, touring or automotive associations in the country. Should you enroll and become a member of any of these associations, you may receive a discount. It might not be a huge discount, but a discount to start off with for sure.
  • Security Device: Another smart way to reduce the premium of your two wheeler insurance is to install a security device on the same. When you install a security device, you not only increase the security of the bike, making it less prone to theft or burglary but also get a shot at lower premiums. Insurers offer discounts for bikes that have additional security devices installed on them. It might be a win-win situation for your old bike as well.
  • Bundle Up: If you already have other policies from an insurer, such as home insurance or a car insurance policy, check if you can bundle your bike insurance policy as well. Your insurer is more likely to offer a small discount on opting to buy the policy from them.
  • Compare: Buying bike insurance online offers another trick in the form of comparison. You can compare policies from different vendors and eventually pick one that fits your requirements. A policy with a good balance between features and premium is what you should be looking at.

By YouthInc

See Full Story at youthincmag.com

When It’s Recommended To Check Car Insurance Quotes Online

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When it comes to the premium you pay on your car insurance certain events can affect the amount you pay. Whether if those events affect your car insurance rates in a positive or negative way, you can find out by checking the car insurance average cost at least once every six months.

It is recommended to check the online insurance market when these events take place:

  • Your credit score changed. In most states, the law allows the insurance companies to take your credit into consideration when they determine the price of your insurance rates. Your credit score is composed of approximately 130 elements, but insurance companies use only the ones they find relevant. If you are in the poor and low credit categories, expect to pay more on insurance, while those drivers that have excellent and good credit scores will pay less.
  • State’s laws have changed. Every state has different laws and requirements regarding car insurance. These laws and requirements can be changed anytime. For example, the liability limits of insurance can be increased, leading to higher premiums to everyone. In order to find a better deal, you would have to check the insurance market.

See Full Story at compare-autoinsurance.org

Cancelling Insurance to Reduce Expenses?

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For many consumers the start of the new year may have been a difficult one. Overspending over the festive period coupled with an intertest rate hike at the end of last year may leave many looking for opportunities to save.  Some motorists might turn their thoughts to a grudge spend: insurance.

Cancelling your vehicle insurance, however, can have far-reaching and even more expensive consequences warns the managing director of MasterDrive, Eugene Herbert. “With the high crash statistics in South Africa drivers who take on the roads without insurance are taking a huge risk.

“Even a relatively minor incident that puts your car out of commission can be devastating. You may be left trying to pay a bill that reaches into the thousands and if you do not have the money, what do you do then? For those who rely on their car to generate an income, like a sales person, a crash will cause even greater financial stress,” says Herbert.

If you damage someone else’s car you up the ante even more. “You are obligated to repair their car right away even if you do not have the money. Their insurance will ensure the money is recouped and there is little care about how you do it. If you were to damage a luxury car, you could even lose your home in the process of repairing the car.”

By CAIRA-LEE

See Full Story at www.womenonwheels.co.za

New advice for rental car insurance

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Planning a trip that includes a rental car? Finding the right size car is easy, but what about insurance add-ons? Should you buy the added coverage? Or are you already covered with your own policy? And If you think your credit card will always cover you, think again.

Consumer Reports reveals money-saving tips on rental car insurance.

Consumer Reports says before you rent a car check for coverage under your personal auto insurance. And also, through the credit card you`ll use. Credit cards can change their terms.

For instance, Discover recently stopped offering rental car insurance altogether. American Express, Chase and Citibank still do offer it, but check their terms and limits. If a credit card is your primary coverage, there could be a benefit to using it.

Should there be a claim, the credit card insurance could be in line to cover it and your own auto insurance rates may not change.

See Full Story at wtkr.com

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