Insurance Agency Singapore | Commercial Insurance and Personal Insurance

Three not so boring insurance tips that can help you save in the long run.

Start as soon as you can

This is probably one of the tips that people drone on about, but there is a reason why. Insurers look at the level of risk you pose when giving you a premium. This is known as the underwriting process. The older you are the more likely it is for you to get sick or sustain a life-altering injury.

It’s all about the features

One of the common mistake people make when buying important things in life such as a house, car, or life insurance is to check the price only. However, it is the features of such items that matter the most. When it comes to life insurance, it is vital that you choose something that is not only suitable for your pockets but is sufficient to cover your loved ones.

Avoid the ‘set and forget’ method

A lot of things can change over the course of your life. Simply taking out a policy and paying it without constantly reviewing if it is still suitable for you can be a dangerous game to play. Not only will you find that you might be paying more than you should, but you will also realise that it may come with features that are no longer suitable for your lifestyle. For example, you may have insured yourself when you had no children or a spouse. It is important to read the fine print of your policy carefully along with the exclusions that come with it.

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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 finance.yahoo.com

If you’re a millennial, you’re likely working at your first real job, dealing with student loans, and facing the realities of adult life. One adult reality is the need for different types of insurance. Two that you should particularly focus on a car and life insurance. Here are a few insurance tips for millennials to keep in mind to save money and obtain proper protection.

Be Sure to Price Shop

Massachusetts is a competitive insurance state. This means that insurance companies set their own prices and discounts. To get the best prices and options, you’ll want to shop around. Be sure to ask about different discounts available through each insurance company as it may save you a lot of money.

Use Independent Insurance Agents

To save you time when shopping for prices, consider using an independent insurance agent. They work with many different insurance providers and can do the price comparisons for you. They may also offer some great ways for you to save additional money, such as combining your policy with renter’s or homeowner’s insurance.

Buy Life Insurance

We all tend to think about life insurance as something that only old people need. In reality, everyone needs it. Plus, if you purchase a policy at a young age, it will cost very little compared to purchasing it later in life. Life insurance can help cover debts such as your student loans and credit cards. Millennials tend to have quite a bit of each of those! Should something happen to you, life insurance can lessen the burden on your family when it comes to an end of life expenses and debts.

See Full Story at eagletrustinsurance.com

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

Homeowners’ insurance isn’t a luxury, it’s a necessity. In fact, most mortgage companies won’t make a loan or finance a residential real estate transaction unless the buyer provides proof of coverage for the full or fair value of the property (most of the time this is the purchase price). Read on to learn how you can make sure your homeowners’ insurance will meet your needs.

See full story at www.investopedia.com