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Important questions Insurers need to ask when applying for an insurance

12 September 2019 By admin Leave a Comment

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It always pays to have the information that is needed ready on hand. It will also help you know your health status in advance to ensure that you get access to the right policy. These are four questions that insurers tend to ask.

Health-related questions

During the underwriting process, you will undergo a couple of questions concerning your health. The reason why insurers ask this is to ensure that you are covered for any health ailments you might have.

Lifestyle-related questions

The healthier you are the better. Whether you partake in smoking, drinking, or adventure sports, these are all factors that can affect your life.

Beneficiaries you want to have covered for a funeral benefit

This tends to be a question that stumps many first-time applicants who have not yet started a family for a couple of seconds.

See Full Story at www.miwaylife.co.za

Benefits of using an Insurance broker

10 September 2019 By admin Leave a Comment

Brokers are commission-based. They can act as the consumer’s partner and ensure that the consumer has the right coverage, the right policy terms, and the right price.

Here’s some benefits of using an Insurance broker:

They help clients choose the plans that fit their needs.
They are aware of more products than consumers are.
Insurance brokers shop several companies and strive to get the best prices.
They can assess and assist with consumer risk management.
Insurance brokers can look at unique situations and come up with the appropriate coverage options.
They help with customer service and claims.
They are able to identify trends and upcoming policy rate increases.
They offer a range of products so that when consumer needs change, their insurance can also change with them.

Insurance brokers can educate consumers on the need for insurance and help address some of the consumer irrationalities when shopping for insurance policies. All these leads to the fact that consulting a good insurance broker is always worth the effort and you stand to get the best coverage for your unique needs.

See Full Story at www.covermatch.com

How to Compare Cheap Travel Insurance

3 September 2019 By admin Leave a Comment

What you need to remember is there are hundreds of travel insurance companies out there and many of them are evil.

Choosing a good insurance policy can be pretty overwhelming. Often, in the fine print you’ll find that policies are not as good as advertised.

For example, some (really!) cheap travel insurance companies will insist that you pay a high excess on claims for electronics or other personal belongings.

When hunting for a plan and comparing backpacker insurance policies, start with the basics.

First and foremost, make sure that your insurer has a high coverage limit on your medical expenses. Many companies provide up to £1,000,000 in medical coverage and some more expensive policies providing provide even more. High coverage limits are important because if you get seriously sick or injured your medical bills could skyrocket.

Secondly, you want to make sure your policy covers emergency evacuation. If your trekking at altitude and you break a leg, you will need evacuation cover to pay for the helicopter. If you don’t have it, it’s going to be pretty damn expensive.

Crucially, your policy should also cover repatriation back to your home country if necessary; you don’t want to have to pay for a flight home if you end up being too injured or sick to continue your travels.

At the end of the day, if your travel insurance company DOES have an out then they will use it to avoid paying – it is therefore really crucial you cover your ass and, if trekking at altitude for example, you get the relevant add-on to your policy.

See Full Story at www.thebrokebackpacker.com

Does car insurance cover theft?

1 August 2019 By admin Leave a Comment

Car theft is a serious matter, and it can happen to anyone. In 2017, there were 773,139 incidents of vehicle theft. That figure has dropped significantly since its almost 2 million high in 1991. But authorities say thieves are constantly coming up with sophisticated ways to steal vehicles.

Auto insurance can cover stolen cars. While DiPaolo only had her state’s minimum coverage, there are additional coverages that include vehicle theft. You can add them onto any policy.

In order to cover theft, policyholders should have comprehensive coverage, according to Tony Arevalo, auto insurance expert with Carsurance.net.

“With comprehensive insurance, you should be covered all the way up to the ACV – Actual Cash Value, which is why this type of insurance is recommended to anyone with a car worth over $3,000,” Arevalo says.

Insurance companies calculate the ACV as the replacement cost of an item, minus depreciation.

Comprehensive insurance will cover anything that happens to the vehicle that is outside of the driver’s control. These events are usually defined as an “acts of God or nature” in the fine print. The most common things covered by comprehensive insurance are: flooding, hail, fire, and vandalism.

See Full Story at cover.com

Helpful tips and tricks to public liability insurance

16 July 2019 By admin Leave a Comment

Public liability insurance is one of the most important forms of business cover, but how does it apply to your business?

Sit back, grab a cup of tea and get ready to learn some helpful tips and tricks that should leave you with a clearer sense of what public liability is all about.

What is public liability insurance

It’s designed with third parties in mind. That means that cover is available for most people that interact with your business including customers, clients and members of the public.

Read the full Story at the link below

https://www.bmmagazine.co.uk/legal/guide-to-public-liability-insurance/?fbclid=IwAR2GWW-IIl4kw2j7khGCaXB53E-za4qBbzFpfD50z8uY7lbOi5oXQxLI5Zw

Car Accidents Will Hike Your Insurance Premiums

9 July 2019 By admin Leave a Comment

Apart from this, a single car accident will result in hiked insurance premiums since the insurance company will view you as a risky driver. To avoid all these, take a look at some of the tips to help you become a better road user.

1. Always Maintain Your Car

Car maintenance is key in avoiding accidents at least from your part. This is why it’s important to schedule regular servicing. Some of the basics you should have checked include your tires, brakes and vital fluids such as brake fluid and power steering fluid for efficient navigation.

2. The Driver’s Condition

Now, the car may be in the best condition possible, but if the driver isn’t, then an accident is inevitable. Human error is the leading cause of accidents around the world. This may range from health conditions, especially those touching on the driver’s vision to intoxication.

3. Get Defensive Driving Training

There’s a common statement, which always goes to remind us of the unpredictability of the roads. You may be all focused on the road with your serviced car but the driver on the other side may be careless or not as careful as you and may cause an accident.

by Steve Biddle

See Full Story at www.praguepost.com

How To Use An Online Car Insurance Quote

13 June 2019 By admin Leave a Comment

Photo by **Acharaporn Kamornboonyarush** from **Pexels**

If an insurance policy is what you are looking for then it should be obvious that you need to make the best decision possible. This is a very important choice in life, and if you are not well enough informed, you can end up with a lot of regrets. Thankfully, you just happen to live in the right period of time when you have access to the best decision-making tools. With that in mind, you should know that online car insurance quote comparison is definitely the best way to find the insurance policy that is suited for your needs.

You just need to find a reliable insurance policy comparison website, complete the application form, and you will be presented with a consistent list of policies which are catered to your specific needs. From these, you will choose the one that is the most advantageous. In order to maximize your use of the quote engine you should remember a few points. First, remember to put in as much information as you can. If the information is accurate, you will certainly receive quotes which are relevant to your needs. Be sure to provide proper information, as making a mistake can cause a difference in your premiums.

See Full Story at www.discount-auto-insurance.com

Four tips for startups seeking insurance for data breaches

6 June 2019 By admin Leave a Comment

Consider the following points if you decide to shop for cyber insurance.

KNOW THE DIFFERENCE BETWEEN FIRST-PARTY
AND THIRD-PARTY COVERAGE
Data breach policies generally provide two broad categories of coverage: first-party coverage and third-party coverage.

First-party coverage is for losses the policyholder incurs directly, such as the costs entailed by investigating the cause of a breach, restoring the company’s reputation and notifying affected customers as well as follow-up costs, such as credit monitoring services.

Third-party coverage kicks in when a policyholder (the company) is sued by someone (a customer) claiming to have suffered a loss resulting from the data breach and alleging the policyholder was at fault for allowing the breach to occur. This coverage encompasses the costs of defending against litigation and of any judgments or settlements up to policy limits.

Startups can buy data breach insurance policies that offer both types of coverage or policies that cover only one or the other. Omitting third-party coverage can be risky. In Innovak Int’l Inc. v. Hanover Ins. Co., a software developer had purchased a data breach insurance supplemental policy to its commercial general liability insurance policy.

The supplemental policy stated that the insurance company would provide certain coverage for losses related to data breaches but that it would not cover expenses arising from lawsuits against the developer. In other words, the policy provided first-party, but not third-party, coverage. While the policy was in effect, hackers accessed the developer’s database and stole users’ personal information, including Social Security numbers, addresses and employment information.

By Cort T. Malone and Grant E. Brown

See Full Story at westfaironline.com

Drivers Should Follow The Next Tips When Comparing Car Insurance Rates

4 June 2019 By admin Leave a Comment

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When determining rates, companies analyze a multitude of socio-economic factors. Age, gender, employment status and driving history are top influential factors.

Understand and analyze which factors influence rates the most. Companies analyze multiple factors when calculating rates. The most influential factors are car’s make and model, driving history, demographic factors, recent claims and traffic violations and coverage options. All these variables are added in a rates calculator and the client will be presented with an insurability score and a quote. Each factor is relevant. For example, good students are considered more responsible and benefit from a series of discounts.
Analyze your risk profile and look for carriers that will provide coverage. For Standard and Preferred drivers, the insurance process is really simple. Make a list with top reputable companies and get quotes for each one of them. Things get complicated when it comes to providing coverage for high-risk drivers. They must find non-standard carriers, get quotes and compare prices. In this case, comparing multiple online quotes is a must. Otherwise, the driver risks overpaying for already really expensive premiums.
Use brokerage websites to get and compare multiple estimates. There will be many smaller, more local companies included in those quotes obtained from brokerage websites. But in many cases, smaller companies offer top competitive services at lower costs. It really pays to shop around and not limit the options to just 2 or 3 companies. Furthermore, all results are obtained using the same data and for the same product. This gives no room for errors. Clients who use brokerage websites can quickly sort offers by prices. But do not be guided only by price. Check what other benefits and bonuses can be obtained by applying to each offer.

See Full Story at www.benzinga.com

How Does Home Appliance Insurance Work?

28 May 2019 By admin Leave a Comment

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Home appliance insurance works as a type of service contract that guarantees appliance repairs or replacements if covered items break down during the outlined contract period. When an appliance in your home stops working correctly, you call your appliance insurance provider, who sends out a technician to diagnose and repair the problem.

If the technician deems the appliance to be broken beyond repair, he or she arranges for a replacement to be installed in your home. If your appliance is covered by your insurance, all you’ll pay is a small service fee (typically less than $100) no matter how much work your appliance needs.

Home appliance insurance is sometimes sold alongside coverage for your home’s systems (HVAC, plumbing, electrical, etc.) in a package called a home warranty.

Coverage

The specific appliances that are covered under your insurance depend upon the specific plan you choose. Most appliance insurance plans include major appliances that are costlier to repair, like your washing machine, dishwasher and cooktop. Some plans also include more obscure appliances, like your doorbell or ceiling fans, for an additional fee.

If you want insurance only for a specific small appliance (like a fancy blender or food processor), you may want to consider a manufacturer’s warranty from the maker of the appliance, which almost always costs significantly less than insuring all of the major appliances in your home.

Make sure you read your insurance policy before you sign on with a provider so you know exactly what’s covered under your plan.

Note that most appliance-only insurance plans don’t include coverage for pools, air conditioning systems, garage doors and septic systems. If you’d like these to be covered as well, you may want to consider purchasing a full home warranty.

By Sarah Horvath