Tips Archives - Page 4 of 26 - Insurance Agency Singapore | Commercial Insurance and Personal Insurance

Tips for understanding title insurance

11 June 2019 By admin Leave a Comment

If you buy coverage, here are some things that you might want to do to assure that you have adequate coverage: before closing on the property, look over the policy to be sure that you understand what is covered, and what is not, any restrictions that may exist on the property and who is covered.

There are two types of title insurance: owner’s title insurance and lender’s title insurance.

When you are taking out a loan, quite often a lender will require that you pay for a lender’s policy to protect them if something should show up on the title; however, this coverage does not protect you as the buyer and borrower.

It is important to also consider purchasing owner’s title insurance to protect you from claims that could show up even after you sell the property.

Your realtor can usually recommend a good title insurance company who can do a good job of searching the title and explaining coverage options; however, the office of the commissioner insurance also has some good information on their website about title insurance and other insurances that you should consider when purchasing a property.

See Full Story at www.tmj4.com

How to avoid insurance claim pitfalls while on holiday

30 May 2019 By admin Leave a Comment

To help us avoid any potential insurance pitfalls, here are some useful tips to help you avoid any insurance claim dramas over the holidays:

Drinking and Driving

Driving under the influence of alcohol or any prohibited intoxicating substance can result in an insurance claim being repudiated. “All short-term insurance policies and contracts are subject to South African legislation so you cannot break the law and expect to be covered,” says Manyike. “Driving under the influence of alcohol puts you at risk of having a criminal record and can also have potentially devastating financial implications if your car is severely damaged and your claim is rejected.”

Roadside Assistance

Motorists should download the appropriate applications for their roadside assistance service and have it available on their smartphones along with any relevant emergency contact numbers. Policyholders should also consider enhanced insurance options that provide automatic payment for certain emergency servicing costs such as ambulances or hospital admission guarantees.

Tyre Tread

Vehicle claims can be rejected if the tyre tread depth does not meet the minimum requirement for what is considered roadworthy. A tread depth of 1.6mm (2/32”) is the most widely accepted minimum standard but motorists should check with their insurers to ensure that their tyres conform to the standard stipulated in their insurance policies. If unsure you should consult an expert at a tyre fitment centre or check the wear indicator that is reflected on certain tyres.

Expired License

Insurers require that all vehicles listed on a policy have valid licences. If an accident occurs more than 30 days after the expiry date reflected on the licence, the insurance company can repudiate any claims related to that vehicle. It would then rest on the driver to prove that he or she had attempted to renew the licence and that the fault lies with the licensing authorities.

See Full Story at www.iol.co.za

Top Tips For Getting Cheaper Car Insurance Premiums

23 May 2019 By admin Leave a Comment

Car insurance rates are determined after analyzing multiple factors, including car model, driving history and ZIP code. While some factors, like state legislation, are beyond driver’s control, other rating factors can be modified and bring the costs down. Find out how to get better premiums:

Use online car insurance quotes. Brokerage websites are recommended to complete car quotes. Make sure you complete the same information on all the questionnaires. After you received at least three car quotes, start analyzing them in order to find the most advantageous deal. Also, check all available discounts offered by each insurer.
Purchase higher deductibles. Deductibles are the money paid by the policyholder before the insurance policy kicks in. By raising deductibles, the policyholder will lower his premium rates.
Keep a clean driving record. A driver with no traffic tickets and no accidents for a number of years, is eligible for a safe driver discount. Most insurance companies will lower premium rates after three years of clean driving, while other insurers will wait even five years to provide this discount. Usually, this discount will lower insurance rates by 10%-20%.
Carefully select car model. Factors like the likelihood of theft, costs to repair and safety record, determine the price of the insurance rates. Safety and anti-theft devices also play a significant role in determining the premium of a vehicle
Keep a good credit score. Insurance companies calculate rates based on how good or bad is a person’s credit score. Drivers with bad credit scores will pay higher insurance rates. Improve credit score by using balance transfer credit cards of short term loans with a credit union.

See Full Story at www.benzinga.com

7 tips to meet your homeowner’s insurance cost without struggling

21 May 2019 By admin Leave a Comment

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

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

Why Homeowner’s Insurance is Necessary

You might be tempted to cut your homeowners insurance completely, taking a chance that nothing will happen if you’re uninsured.

You’re taking a huge risk. Plus, your mortgage company requires that you have an insurance policy for your home.

It’s not a good idea to cancel your policy for several reasons. If something should happen to someone on your property, you could be held liable.

If you go without insurance for a period of time until your financial situation picks back up, it could be harder to get insurance again. If you are approved, then you can expect to pay a much higher premium for your policy.

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 homeowners 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.

For example, you may have signed up for insurance coverage for valuables. Valuables coverage is great to have if you have items in your home like sports memorabilia, antiques, valuable artwork, or priceless jewelry.

If you don’t own any such items, you don’t need this type of coverage and can cut your homeowners insurance cost.

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.

Repairs are a sore spot for someone struggling financially, but if you fail to maintain your home, you’re only going to wind up paying for more down the road for repairs.

See Full Story at azbigmedia.com

Amazing Tips for Comparing 2 Car Insurance Quotes and Selecting the Best Plan

16 May 2019 By admin Leave a Comment

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 finance.yahoo.com

Seniors and Travel Insurance: What You Need to Know Before You Buy

14 May 2019 By admin Leave a Comment

With more travellers 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, travellers 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 travellers back for their medical costs while abroad, and Medical Evacuation and Repatriation, which can transport travellers to the hospital in an emergency or transport remains home.

Travellers can also get their trip costs back if they need to cancel or end a trip early due to 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 traveller’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 the price for younger travellers. The best way for travellers 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.

See Full Story at www.prnewswire.com

4 Travel Insurance buying tips for seniors

9 May 2019 By admin Leave a Comment

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