Tips Archives - Page 14 of 26 - Insurance Agency Singapore | Commercial Insurance and Personal Insurance

Prevent Car Accidents and Keep Auto Insurance Rates Low

26 October 2017 By admin Leave a Comment

The driving record is always important for determining car insurance costs. Someone who has multiple road accidents on record will be considered a liability and will get more expensive rates. Preventing accidents means keeping auto insurance rates low. The premiums of an auto insurance plan can always change and can be influenced by different factors.

Compare car insurance quotes to find better auto insurance plans

The insurance market is dynamic and competitive. Many agencies have different offers and try to get as many clients as possible. A driver who compares different plans will have the best chances of getting an affordable policy. It is important to note that a policy may cost different for each driver because rates are determined based on the vehicle that needs coverage and based on the applicant’s driving record.

The best way to compare auto insurance prices is by visiting http://lowcostcarinsuranceprice.com. Here, clients will have to enter their ZIP codes and then complete a simple and short online form. This will help brokers select reliable and relevant auto insurance quotes for each driver, making the whole process simple and fast.

Even high risks drivers can save money by comparing quotes. An accident will not always increase car insurance costs. An agency will look at different factors before making a decision.

“Buying auto insurance after an accident can be difficult, but we can help you find the right coverage policy,” said Russell Rabichev, Marketing Director of Internet Marketing Company.

See full story at markets.businessinsider.com

Rosendale offers insurance tips for wildfire victims

14 September 2017 By admin Leave a Comment

State Securities and Insurance Commissioner Matt Rosendale offers these tips for property losses due to wildfires, smoke, and evacuations. The following tips were posted on Facebook on Aug. 16:

Insurance policies often cover losses indirectly caused by wildfires, such as damage from smoke or fire retardant. Montanans should consult with their insurance agents if they’ve been affected by fires this year, and always feel free to contact our office with any insurance problems.
If you are forced to evacuate, living expenses are often covered if you keep track of your expenses and receipts.
Policyholders generally understand if their property burns down or is damaged by fire that their insurance company pays for damages. However, many insurance policies provide more protection and coverage for damage and losses indirectly caused by wildfires. Insurance professionals can guide Montanans through this process.
In addition to creating health risks, smoke can damage properties even if the fire never directly threatens the home or other property. Damage from smoke is a covered peril in insurance contracts.
If property owners are subject to a mandatory civil evacuation order, many insurance policies provide extra living expense coverage up to two weeks. If this coverage is available, it helps defray costs during a stressful time.
If a property owner incurs damage from fire retardant, many companies will pay for the cost to remove the retardant and restore the structure to pre-loss condition.
It is also important to note that certain property damage is not covered, or may be limited. Damage to trees, landscapes and fencing are examples where insurance protection may only apply with capped dollar amounts.

See full story at www.greatfallstribune.com

Tips on how to choose the right insurance company

7 September 2017 By admin Leave a Comment

Its hard to find an insurance company that caters to your needs and your pocket. That’s why Review spoke to an insurance broker in the city, Johannes Manamela, about what to take into account when choosing an insurance company.

He said the most important thing is to know what type of insurance your business needs and then finding a reputable company to look at your needs and means to get you the best deal and cover at the best price. Manamela added choosing to insure a business means there is a need for several basic types of insurance which can make or break a company.

These include:

• General liability insurance: Every business, even if home-based, needs to have liability insurance.

• Property insurance: If you own your building or have business personal property, including office equipment, computers, inventory or tools you should consider purchasing a policy that will protect you in the case of a fire, vandalism, theft, and smoke damage among other factors.

• Business owner policy (BOP): These packages all have coverage a business owner would need. Often, BOP’s will include business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance.

• Commercial auto insurance: Commercial auto insurance protects a company’s vehicles.

• Worker’s compensation: Worker’s compensation provides insurance to employees who are injured on the job.

By Riana Joubert

See full story at reviewonline.co.za

How to Decide When to Buy Travel Insurance

29 August 2017 By admin Leave a Comment

At any rate, here are some tips for deciding when to buy travel insurance and tips for choosing the best travel insurance plan:

1. Think about the specific coverage you may need

Most travel insurance policies cover:

Emergency trip cancellation
Lost or stolen luggage
Medical care in case of illness or injury
Medical evacuation (“medevac”), lie-flat nurse-staffed air flights back home in the case you need to be transported back to a hospital at home
Medical repatriation, transporting your body back home in case of death.

First, you should always know whether your health insurance covers you when you are abroad. Many American health plans do not. Even if they do, you may be required to pay for all health care expenses out of pocket up front and then deal with paperwork and reimbursement–the last thing I want to be doing in the wake of an emergency! That’s one thing that I like about the General Global Assistance policies. There are no out-of-pocket expenses for medical services up to $1,000.

If you’ll be doing something the insurer considers risky (skiing, backwoods backpacking, adventure sports) some policies specifically exclude injuries caused by such accidents, so you may want to consider buying extra coverage.

2. Consider the relative likelihood that the insured event will happen

Think carefully about your trip and decide what the risk of the insured event happening is and your own tolerance for that risk. In the case of trip cancellation coverage, here are some situations in which you may be particularly inclined to consider it:

Your flight is expensive
You are pre-booking an expensive and/or non-refundable hotel, tour package, or a cruise
You are traveling to a high-risk location during hurricane/cyclone/wildfire season
You are traveling to a place that has a greater than usual potential for political instability
You ar traveling to a place where you don’t speak the native language, making accessing and paying for medical care potentially more complicated
You are traveling with family and/or dependents and want to make getting care, in case of emergency, easier on them
You have ill family members or health concerns of your own that increase the likelihood you may need to change plans
You are planning the trip very far in advance.

Obviously, unfortunate things can happen to delay your travels anywhere you go, but the more of the above-listed factors you have, the more you may want to consider buying travel insurance.

3. Find out what your current medical/renter’s/homeowner’s insurance covers

Some of these features may already be covered by insurance you already have. Your existing medical insurance may cover treatment for illness/injury abroad, and your lost or stolen luggage may be covered under your renters or homeowners policy. Check with the companies before you leave to see what they do and don’t cover.

BY CASSIE KIFER

See full story at www.everintransit.com

Travel Insurance Tips: 5 Things You Need to Know About Terrorism Coverage

17 August 2017 By admin Leave a Comment

The recent spate of terror attacks has rattled a lot of Americans planning on heading to Europe this summer. In fact, some of them have decided not to go at all. But what about the airline tickets, the room nights for pre-paid hotels and other arrangements that require a financial commitment before you actually go?

For those who took out a travel insurance policy when they made their arrangements, there may well be light at the end of the financial tunnel.

Travel insurance provider Allianz Global Assistance USA, while noting that there’s a 37 percent increase in Americans traveling to London this summer compared to last year, just announced that due to the recent terror attacks in the UK, Allianz has received more than 100 claims from U.S. travelers who want to cancel their trips to the United Kingdom. Earlier this year, after the Louvre knife attack in Paris on February 3 and the Paris shootings on April 20, they also received about 100 claims for cancellations. I asked Daniel Durazo, director of communications at Allianz Global Assistance USA, to clarify their policies.

What constitutes a terrorist incident?

Allianz Global Assistance’s travel insurance defines terrorism specifically as “when an organized terrorist group, as defined by the U.S. State Department, injures or kills people or damages property to achieve a political, ethnic or religious goal or result.” Terrorist events don’t include general civil protest, unrest, rioting or acts of war. If a strike or unrest results in your carrier or tour operator ceasing services for 24 hours, that may be a covered reason for trip cancellation. Individual policies may vary, so read your policy carefully for details on coverage and call us with questions.

By Everett Potter

See full story at www.forbes.com

5 tips for buying gap insurance for your new car

8 August 2017 By admin Leave a Comment

Many people don’t realize that when they are car shopping, they might need to be in the market for gap insurance, too. New car purchases and gap insurance go hand-in-hand, yet many drivers don’t know what it is or misunderstand its reach. So if you’re buying a new car soon, it’s best to know about gap insurance before you head to the dealership.

“Many car owners believe gap insurance is a catch-all policy that makes their car payments anytime they’re unable to,” says Penny Gusner, the consumer analyst for CarInsurance.com. “That is not the case.”

Gap insurance protects you if your vehicle is totaled or stolen and you owe more than it’s worth to your lien-holder.

Specifically, it pays the difference between the actual cash value of your car at the time of the loss, less the deductible (and the vehicle’s salvage value if retained by the owner or insured) and any greater amount owed on the vehicle to a lender at the time of loss.

Lynne McChristian, a spokeswoman for the Florida wing of the Insurance Information Institute (III), says gap insurance (which is an industry acronym for “guaranteed auto protection” or “guaranteed asset protection”) can be a worthwhile add-on to an existing policy.

“As soon as you drive your brand new car off the lot, it loses value,” she points out. “If you didn’t put much money down on it, then there is a gap between what it’s worth and what you still owe. Simply, the smaller your down payment, the more you need gap insurance.”

Edmunds.com says the average new car depreciates 11 percent as soon as you steer it off the lot. And during the first five years, the car depreciates from 15 to 25 percent each year. Edmund’s “True Cost to Own” tool lets consumers determine general depreciation numbers for their vehicles.

But there are limitations with gap insurance. For one, it doesn’t cover negative equity. For instance, if you roll the outstanding balance of your prior car loan into your new car loan, gap insurance will cover just the new car loan.

By Mark Smith

See full story at www.carinsurance.com

Tips for Finding Cheap Life Insurance

1 August 2017 By admin Leave a Comment

Cheap life insurance is out there, if you know what you’re looking for. That’s why it’s important to do your research. You’ve got to educate yourself on the various types of life insurance policies that are available, including additional benefits that may or may not be offered.

Plus, you should make an effort to research your options as they relate to the various life insurance companies. It’ll be to your advantage to know what you want and need in terms of cheap life insurance before you start getting quotes.

Term vs. whole life

The first big determinant of cheap life insurance is the type you select. Term life insurance will almost always cost you less than whole life insurance. Term insurance is purchased for a specific period of time, for a specific face value.

Whole life, as the name implies, provides life insurance benefits for the rest of your life, whether that ends up being 10 years or 50. Whole life insurance policies generally have a cash value aspect meaning you’ll pay more in monthly premiums. The amount over and above that which is necessary to cover the premium is used for investment purposes.

Even if you do choose whole life insurance, your costs can be lower if you look around for a policy that has lower fees. The fees you want to pay attention to aren’t really fees, they’re commissions. Commissions can eat away at the cash value of your whole life policy. When researching, look for the term, “low load” as that generally means lower fees.

But be careful. You’ll find this type of life insurance won’t be cheap if you withdraw funds. When the policy’s cash value is greater than the premiums paid, you’ll likely have to pay taxes. A loan against the cash value may have the same end result.

Think long and hard about this type of life insurance policy; it’s not meant to be a substitute for a more traditional type of investment plan. And the premiums you’ll pay will be hefty.

By Ayat Ahadi

See full story at goodherald.com

8 Foolproof Ways to Slash the Cost of Homeowners Insurance

27 July 2017 By admin Leave a Comment

Homeowners insurance is one of those things most of us rarely think about. It’s easy to put a policy in place and then forget about it — until it’s too late.

But for most of us, our home is the most valuable thing we will ever own — and it is typically filled with valuable possessions. Insurance coverage must address the value of the building — including upgrades — and the value of our belongings, especially high-value items like jewelry, antiques and other collectibles.

So taking the time to review your homeowners insurance — what it covers and how much you’re paying for it — is time well spent. Sure, it sounds mundane compared with planning a barbecue, but it can save you a substantial amount of money — and go a long way toward making you whole again if that barbecue turns into a blaze.

Check out these top tips for getting the best deal:

1. Shop around

Most of us spend more time shopping around for milk or gas than we do for insurance. But the internet makes it easy to shop around for insurance.

2. Raise your deductible

Sure, raising your deductible can be scary. But the larger the loss you are willing to absorb before the insurance kicks in — in the event of damage — the less your insurance will cost month-to-month. For example, raising your deductible from $250 to $1,000 could slash your premium by 10 to 30 percent. That’s a lot of savings, without taking on a lot of extra risk.

By Kentin Waits

See full story at www.moneytalksnews.com

Car Insurance Tips for Buying Auto Insurance for Young Drivers

20 July 2017 By admin Leave a Comment

Teenagers who apply for auto insurance will most likely have to pay more. Young adults are sometimes considered irresponsible or inexperienced drivers and agencies will insure them at higher costs to cover any potential losses. Not all teenagers have to accept this situation.

Younger drivers have to pay more for auto insurance

Auto insurance prices are determined based on the insurability risk of every applicant. Younger drivers lack proper experience and they are likelier to cause an accident. This drives their insurability risk quite high and may be considered high risk.

Better grades can help college students find cheaper car insurance

A student who does well in college is eligible for a discount. Agencies trust A grade students more and they are willing to offer them better rates. A high education can already help younger drivers in getting cheaper premiums, but prices can be even lower if the applicant gets good grades in college.

High school students can also be eligible for these discounts. They will have to bring some proof of their high grades in order for the discount to be applied.

“Young drivers pay more for auto insurance, but they can also get some unique discounts. Visit us to find excellent deals in your area,” said Russell Rabichev, Marketing Director of Internet Marketing Company.

Autocarsinsurancetips.com is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

See more at autocarsinsurancetips.com

Negotiating With Your Home Insurance Company? Here Are Three Tips

18 July 2017 By admin Leave a Comment

The minute you send in an insurance claim for damage to your home, you enter a negotiation. Your insurance company will be seeking the pay to lowest amount possible, and you will be looking to have all of your damages covered. What they ultimately pay will very likely depend on how you negotiate. Here are three tips:

Have a Settlement Amount In Mind. Before you talk settlement amount with your insurance company, do your due diligence and find out for yourself exactly what your repairs will cost. A reputable licensed contractor should be able to give you an estimate of material and labor cost to repair you damage. Further, when you have your own adjuster or licensed contractor inspect your property, they will look for any related damages that will also need to be repaired. Have the cost of all of these repairs in mind before you negotiate with your insurance company.

Don’t Take The First Offer. Some insurance adjusters make initial offers so low that they are simply a way to assess if you know what you are doing. This offer may not be even a quarter of your total damage. Or, they could offer something that is reasonable, but doesn’t cover the full cost of repairs. But because this is a negotiation, you can – and should – make a counteroffer. This counteroffer can be slightly lower than the settlement amount you’d like, to show the adjuster that you are willing to be reasonable, but there should always be a counteroffer.

Ask That The Offer Be Justified. If your insurance adjuster gives you a lower amount than what you are looking for, ask them to justify how they arrived at that amount, Not only does this show that you are going to expect that they validate their position, but also that you too, know the cost of repairs, and are well aware of just how much it is going to take to fix your damage. Make sure that you get this in writing, so that you can respond to each of their points. Then, the next time you speak with the adjuster, ask for a response to your letter. It is usually then that they make you a reasonable offer.

By Joe Carroll

See full story at www.asaproofing.com

Insurance Agency Singapore | Commercial Insurance and Personal Insurance