Posts Tagged ‘Basics’

Recreation Vehicle insurance, the basics.

Article by Simon Goodman









What is a recreation vehicle? Do I need to insure it?The first questions to answer would be, what is a recreation vehicle and why would you choose to insure it.A recreation vehicle is one that you would normally use to fun/relaxation. For example if you normally use your car to commute but on week-end drive a motorcycle then the motorcycle is considered to be a recreation vehicle. But on the other hand you use your motorcycle to go to work on hot days then the bike is no longer considered to be a recreation vehicle.Some of the more common recreation vehicles are: * Motorcycles * Boats * Snowmobiles * Moto-cross bikes/trail bikes/Quad bikes * ATV’s (All Terrain Vehicles) sometimes used for trail rides or hunting * Travel Trailers * Motorhomes * Caravans * Personal Watercraft (jet-skis, Inflatable and so on)Do you need to get a recreation vehicle insurance?In almost every case the answer is yes, the most common reason is because most good insurance company will not charge you a premium for using a vehicle from time to time. You are usually not penalised for having a recreation vehicle. In most cases a recreation vehicles is well looked after, and because, by definition, it is only used once in a while, most insurance company will offer some very low quotes.But the other important reason is because most recreation vehicles are not used as often so the likelihood of something happening increases.You must accept that you are not as familiar with that vehicle as you are with your everyday one. So the likelihood off an accident increases.You should always check with your insurance company that your insurance is up to date; it is often easy to assume that a vehicle is covered for, say, 12 months when in fact it is only covered for 6 months.You must also ensure that you are carefully following the policy, if your recreational vehicle is an RV, (Motor home or Caravan), does your license allow you to drive it?Is the vehicle itself ‘legal’, (can it legally be used for the purpose you are insuring it for?)Remember that is almost all cases, breaking the local laws will null and void the insurance policy.Find out more about Recreation vehicle insurance



About the Author

Insurance Owl gives simple, clear information about insurance.Everything, ranging from health insurance to indemnity claims, including Auto, Travel and life insurance.










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Basics of Life Insurance No Exam Policies

Article by David Livingston









Costs, sum insured, insurance premium, medical tests are a few things that everybody looks out for when they want a life insurance policy. It’s not so simple to get a life insurance policy, everything does not only happen on paper with just a sign. Before giving the policy the insurance company arranges for a medical check-up, just to know about the person’s current health. It is not mandatory for all the policies as there are some insurance policies that do not require a medical examination. Alternatively you will be asked some health related questions, sounds too simple but make sure that you read between the lines. At times the terms and conditions get neglected.

The bonus of having insurance without medical exams is that it prevents you from the tiresome medical tests and you get the policy sooner. To top it you don’t even need to experience any painful needles. Anyways let’s not only concentrate on the advantages of the Life insurance no exam policies. The first drawback that we can count upon is the sum insured that is often less than that of any regular life insurance policy. Usually the range of the insured sum s restricted from ,000 to 0,000. It’s not only this but the insurance rates are also higher when compared to other policies.

For the ones who want a temporary insurance policy term life insurance is the best. Though they ensure you a financial stability but they do not congregate cash at the end of the term. Looking for more information’s about term life insurance cost? You can opt for a life insurance agent or log on to the Internet for the research. These days lot of online quotes are also available but you need to fill a questioner before getting the access to these quotes and term life insurance cost calculators will calculate about the best options that you can have. Some questions that are to be answered are as follows :

# Your state#Date of birth#Gender#Usage of tobacco products#Weight#Height#Length of term#Coverage amount#Return of premium

It is you who has to decide upon the cost of the term life insurance and it is not difficult. It involves a simple calculation. Multiply the exact amount that you earn in a year to 15 and the product is insurance coverage that you need.

Everyone wishes for a good term life insurance policy but if you can’t afford it then just reduce the term life insurance cost and still get good benefits. Young individuals get the advantage of lower premiums on the term life insurance policy so one should not wait for too long and get the policy at a young age itself. The amount of life insurance premiums gets reduced by lowering the term of the term life insurance and it overall reduces the insurance cost.

When you are selecting a term life insurance, make sure to compare the term life insurance quotes of more than two life insurance companies. Due to increased competition in the life insurance sector, many life insurance companies are offering discounts and rate cuts. When you call up a life insurance company, the phone executive can answer all your questions related to life insurance. However, if the conversation takes a longer time, it is advisable to call for an insurance agent from that same insurance company.

Most insurance companies are offering free advice when it comes to life insurance. The life insurance company agent will call you up and fix an appointment with you. Make sure to give him or her your exact contact details to avoid any confusion. There only one major drawback of calling upon an insurance agent who is attached with only one insurance company. The drawback is that you will get the quotes of only one company and you cannot compare it with the quotes of other insurance companies.

It is always advisable to consult an independent insurance agent because they give the quotes from multiple companies. One bonus point that makes everybody go for an independent insurance agent is their aptitude to give you a better deal because of the increased competition.



About the Author

David Livingston has been involved in the insurance industry for a long time and is considered to be one of the leading expert in this industry. For more information on how to get affordable life insurance or getting life insurance quotes, visit his site today.










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Life Insurance 101- Basics

Life insurance is basically a contract between two parties: the life insurance company and the policy owner. After the demise of the policy owner, the life insurance company agrees to pay a lump sum amount based on premiums paid by the policy owner, to a designated beneficiary. The policy owner must pay the life insurance company either a lump sum or a stipulated amount at regular intervals in order to keep the policy in effect. In addition to death, a life insurance policy may also cover terminal illness or critical illness and provide the policy owner with what is known as “accelerated” death benefits to cover cost of treatment.

Types of Life Insurance

Life insurance purely for protection: This type of life insurance is designed to provide death benefits against premiums paid for a specified term period which can be anywhere between 1 to 30 years. Because it is temporary life insurance offered for a particular “term”, it is called term life insurance. This type of insurance offers high death benefits at the most affordable premiums. It is most suitable for young families on a low-budget or for individuals who want temporary life insurance protection. There is no investment component in term life insurance and should you outlive the policy, you forfeit all premiums paid.

Life insurance with an investment component: This type of life insurance is permanent. You pay premiums throughout your life. The reason why it is so attractive is because a portion of the premiums you pay goes into an investment portfolio. Your premiums begin to accrue interest. After a certain time, you can use this interest to pay premiums or you can dip into the cash value of your life insurance policy whenever you need to. Examples of life insurance with an investment component are whole life, universal, variable whole life and many others.

Who Needs Life Insurance?

Anyone who has a dependent needs life insurance.

Married couples need life insurance to cover shared expenses. If you’re planning a family, it’s better to get life insurance before you get pregnant as life insurance premiums increase with health complications.
If you have a growing family to support, you would need life insurance not only to cover your debts, but also to make sure your children have the money they need to go through college and to compensate for income loss through your death.
Single parents need of life insurance to ensure that their children will have the financial stability they need even after they are gone.
Stay-at-home parents provide caretaking, housekeeping, transportation and other services which need to be covered under a life insurance policy.
Small business owners need life insurance to cover financial losses that would incur if a partner or key employees died.
Singles may need life insurance to cover student loans or to provide for ailing parents.

Estimating life insurance coverage needs

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Calculate all your assets against your liabilities. This will give you a fair idea of where you stand financially. Ask yourself how much money your family would need to maintain the same lifestyle they are accustomed to, pay off debts, and build up an asset for future expenses such as college tuitions or a retirement fund. You could make use of an online life insurance needs calculator to help you estimate the coverage you would need.

How premiums are calculated

Life insurance companies use mortality tables calculated by actuaries along with a host of other factors to derive the premium amount you need to pay. The process of investigating and evaluating the risk involved in insuring your life is called underwriting. The underwriting process may differ from company to company but a few common factors play a role such as age, gender, lifestyle, whether you are a smoker, pre-existing health conditions, family health profile, alcohol intake, etc. Premium rates are higher as you grow older simply because growing older is attached to a higher mortality rate.

Most companies divide the risk of insuring an applicant into four categories:

Preferred Best: This category of people is considered to be a low mortality risk. Typically, those who fall under this category have no adverse medical history, have no pre-existing health conditions, and there is no family history of cancer, diabetes or other common genetic diseases.

Preferred: This category of people is considered to be a slightly higher risk to insure. They may have a family history of illness, but

Insurance Basics 101 For Small Business

Article by allenbroadly









With both the economy and the job market taking a hit in America over recent years, more and more Americans are looking to run their own business or become self-employed. If this is a step that you have considered taking, or are a small business owner already, then you may have already learned how important insurance will be for your business. If you are new to the small business game, and know that insurance is a part of the self-employed life, then you will want to inform yourselves on the basics before you begin looking for insurance quotes. Here we will cover the basics on insurance for small business and you will see that you can still take steps to protect your business investment, without spending a fortune.

Unless you have a large business, a significant amount of employees, and assets such as vehicles and machinery, your insurance needs for small business will be fairly straightforward. Today in America, most small business owners are using a standard model for this kind of insurance known as the Business Owner’s Policy, or BOP for short. The BOP is a kind of insurance that provides coverage and liability insurance for all of the basics needs in your small business. Building and contents are often covered, and you can add on or extend your business owner’s policy at any time as your business grows. While most BOP’s are fairly standard and straightforward, there are still ways you can save on insurance when you are looking for quotes.

When it comes to protecting your business investment, you have to consider everything in your business that is worth value to you when you are getting insurance quotes. This could start with something as basic as a list of the building and its contents, but you may have parts of your business that need additional protection. For example, any securities or finances that you have invested through your business may need protecting, or you may have files or records on your property, or elsewhere, that are integral to the success of your business. Some businesses, like engineering firms, that rely on using intellectual property as their source of trade will even go so far as to insure their creative products from being stolen as ideas by competitors. When you are looking for small business insurance, you have to take into consideration every single part of your business that could experience a significant loss either through damage or theft.

If you use a vehicle for your small business, you may find that you are able to save on insurance by either combining your business and car insurance, or getting car insurance through your business policies. You can also minimize insurance costs by asking your insurance company for higher deductibles, and this will not only reduce your premiums now, but assist in establishing a solid relationship with your insurance company that will get you lower premiums in the future as well. When you are looking for business insurance, you need to remember to take every factor into account that is directly related to your business. You can cut costs on small business insurance by combining policies, and eliminating unnecessary elements from your business owner’s policy.



About the Author

Want to read the latest news and discussions from allenbroadly? Visit http://www.businessgrowthinsurance.com/basics.html to get his latest insights on many different subjects in the world.










The Basics of Personal Property Insurance

You have secured your home and your car with insurance. So whenever a disaster strikes and cause damage to your car and home, you will not worry since you know you will receive compensation for the expenses.  But what about the valuables and other personal belongings in the house and car?  Do you need coverage for them?

To protect your personal property and valuables, you need to include these in the coverage under your homeowners insurance policy.  Belongings like appliances, clothing, furniture and all other properties not permanently attached to your house will be covered by this type of insurance.  Most insurance packages allows a maximum coverage of 40% of the total worth of your belongings.

There is a limit to this policy, however.  Valuables that are worth a great deal are insured up to ,000 only.  Items such as jewelry, expensive clothing, antiques, firearms, silverware and others are some of these valuables.  So if you believe that you have plenty of expensive and hard to replace possessions, you need to get extra personal property insurance.

The first thing that you need to do is take stock of all your possessions.  Do a complete and thorough inventory of everything that you have.  Make a complete list detailing the item description, costs, and other pertinent details.  Compute for the worth of each, and the cost of replacement.  Take into account that some items’ value appreciate over time, while some may lose their value.  Having the list on hand will make dealing with the personal property insurance company or agent easier.  Keep your list updated and complete.

Your possessions are your investments.  You would want to protect your investment.  It is therefore advised that you get personal property insurance to provide coverage for your valuables.  In case you get robbed, you know you will get replacement for your belonging, if not the actual thing, at least its monetary equivalent.

The best advice for getting cheap contents insurance is to shop around. When looking for full coverage dental plans, it is advisable to take time and compare the different rates offered by different companies.


Article from articlesbase.com

(Via crooksandliars.com ) As Keith notes, the Senators who hate the idea of a public option for health insurance sure didn’t have any problem voting for a public option to protect the profits of insurance companies against too many flood claims.
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Small Business Insurance Basics

Running a small business can be tough at times and most businesses run a fine line between being profitable and making a loss. These narrow margins leave small businesses very vulnerable to the risk of losses resulting from accidents, theft or lawsuits. Minimizing risk is essential for small business owners and adequate insurance is an essential solution for this. Business insurance offers protection for when your product or service fails, when someone is injured on your property, when a thief walks off with your office computers or when your driver crashes the company vehicle.

Getting the right type and amount of cover is a daunting task for most people. As a result many small businesses are either under insured, over insured or worst of all not insured at all for vital risks. The type of business you are running and the types of products and services you offer will largely determine the type of insurance you require.In general, small businesses need a combination of the following types of policies:

Public Liability Insurance

This type of insurance policy protects your business from lawsuits associated with damages caused by your business or injuries sustained by people on your business premises.

Professional Indemnity Insurance

If you are a professional like an accountant, investment advisor, tax consultant or even an insurance broker then you should definitely consider taking out this type of insurance policy. It protects you from losses that could occur should a client sue you for advice or services that may have led to the client losing money. Professional indemnity insurance covers legal costs, court fees and pays the settlement should you be found liable.

Workman’s Compensation

Many countries have regulations that make workman’s compensation insurance compulsory, but even if it is not, this type of insurance can cover injuries sustained by your employees while on the job.

Business Interruption

If something happens like a fire on your premises and you need to stay closed for a significant number of days, weeks or months, this type of insurance will cover your fixed expenses like rent, utilities and taxes. Having to cover these expenses while the business is not generating an income would be disastrous without adequate insurance.

Building Insurance

Just like with home building insurance this type of policy covers the expenses of rebuilding or fixing damaged business premises following a fire, water damage or similar event.

Business Motor Insurance

This is similar to regular car insurance, but usually differs in terms of the drivers stipulated in the policy. Since several different people typically use a business vehicle a policy with multiple drivers is usually needed. Should the business operate many vehicles then fleet insurance will be required.

If you are unsure about your small business insurance needs, then it is vital that you consult an insurance broker who specialises in small business insurance. An insurance broker will be able to analyze your business’s services, products and activities in order to determine where your high risk areas are and provide you with policies to cover this risk. A broker will also be able to source several insurance quotes for you in order to find a good deal.

Stuart Broad is a marketer who works for a number of South African Vehicle Insurance sites. If you are looking for a budget insurance, he recommends trying to get Comprehensive Insurance at InsuranceHound.


Article from articlesbase.com

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Small Business Insurance Basics

Article by Stuart Broad







Running a small business can be tough at times and most businesses run a fine line between being profitable and making a loss. These narrow margins leave small businesses very vulnerable to the risk of losses resulting from accidents, theft or lawsuits. Minimizing risk is essential for small business owners and adequate insurance is an essential solution for this. Business insurance offers protection for when your product or service fails, when someone is injured on your property, when a thief walks off with your office computers or when your driver crashes the company vehicle.

Getting the right type and amount of cover is a daunting task for most people. As a result many small businesses are either under insured, over insured or worst of all not insured at all for vital risks. The type of business you are running and the types of products and services you offer will largely determine the type of insurance you require.

In general, small businesses need a combination of the following types of policies:

Public Liability Insurance

This type of insurance policy protects your business from lawsuits associated with damages caused by your business or injuries sustained by people on your business premises.

Professional Indemnity Insurance

If you are a professional like an accountant, investment advisor, tax consultant or even an insurance broker then you should definitely consider taking out this type of insurance policy. It protects you from losses that could occur should a client sue you for advice or services that may have led to the client losing money. Professional indemnity insurance covers legal costs, court fees and pays the settlement should you be found liable.

Workman’s Compensation

Many countries have regulations that make workman’s compensation insurance compulsory, but even if it is not, this type of insurance can cover injuries sustained by your employees while on the job.

Business Interruption

If something happens like a fire on your premises and you need to stay closed for a significant number of days, weeks or months, this type of insurance will cover your fixed expenses like rent, utilities and taxes. Having to cover these expenses while the business is not generating an income would be disastrous without adequate insurance.

Building Insurance

Just like with home building insurance this type of policy covers the expenses of rebuilding or fixing damaged business premises following a fire, water damage or similar event.

Business Motor Insurance

This is similar to regular car insurance, but usually differs in terms of the drivers stipulated in the policy. Since several different people typically use a business vehicle a policy with multiple drivers is usually needed. Should the business operate many vehicles then fleet insurance will be required.

If you are unsure about your small business insurance needs, then it is vital that you consult an insurance broker who specialises in small business insurance. An insurance broker will be able to analyze your business’s services, products and activities in order to determine where your high risk areas are and provide you with policies to cover this risk. A broker will also be able to source several insurance quotes for you in order to find a good deal.



About the Author

Stuart Broad is a marketer who works for a number of South African Vehicle Insurance sites. If you are looking for a budget insurance, he recommends trying to get Comprehensive Insurance at InsuranceHound.

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Know About Business Insurance Basics

Article by Keystone Insurance







Starting a business is not enough, one should also ensure its protection and security. In order to stay on the safer side, one would intelligently opt for insurance by foreseeing the risks. Hence, covering your business with business insurance is very important. Every year, numbers of companies fail because of improper assessment of the risks or by not going for insurance coverages. Many of the business owners hesitate to invest on the insurance policies and few of them feel that they are of no use or it is simply waste of money. A business can be hit by unforeseen risks which may be natural calamities, accidents, law suits, employee injuries, business interruption etc. Business insurance helps in reducing liability, loss recovery, securing loans and investments, improving business image and stability etc.

Business insurance will protect the assets of the companies. The insurance is protected from the financial losses by the insurance company. The business insurance is suitable for all commercial trades which include contractors, property owners, contract works, removers, ground workers, scaffolders, welders etc.

There are many types of business insurance policies available in the market. It is important to know what type of business insurance is suitable for you. It depends on the type of business you are running.

Business property insuranceThis is the most essential type of business insurance. A business property insurance provides compensation for the damages due to fire, hail, peril, loss, vandalism and theft. It also covers the losses which result because of natural calamities like wind, floods, earthquakes etc. Your stock, inventory, exterior buildings and company vehicles are generally covered under the property insurance. There are various types of business property insurance. Some of them are:

Equipment damage insuranceEquipment damage insurance is also known as broiler and machinery insurance. It covers furniture, product inventories, money, computers and many other materials which are not covered in property damage insurance. Property insurance just protects you from external damages but not internal such as damages due to electric short circuit.

* Crime insuranceCrime insurance covers the insured during losses like theft, forgery, computer fraud, counterfeiting, general crime, dishonesty etc. This insurance generally helps for filing a claim against the employee theft or other offenses, which would lead to financial ruin.

Business liability insuranceIf you have a business liability insurance, you will be protected from the events of lawsuit for personal injury or property damages filed by third parties. This insurance covers damages which result from a lawsuit along with the legal costs. There are different forms of business liability insurance. They are:

* Errors and omission insuranceThe errors and omission insurance protects an individual, professional or a company from paying the full cost of defense for lawsuits related to an accidental error or omission while providing covered professional services. Insurance agents, brokers, real estate agents, architects, third party administrators etc. generally go for the errors and omission insurance.

* Employment practices liability insuranceThis insurance provides protection for an employer against the claims of the former employees, employees or potential employees. The employment practices liability insurance also covers discrimination of age, race, sex, disability etc., sexual harassment, wrongful termination of employment and also other employment related allegations. Both your firm including directors and officers are covered by this insurance.

* Umbrella liability or supplemental liability insurance‘Umbrella’ is a term referred to as to how the policy shields the assets of the person who is insured to a higher extent than just the primary coverage. This insurance also protects the insured against the slander, invasion of privacy, vandalism and libel. This is useful for the individuals who are the owners of very expensive assets and also who are at a high risk of being sued.

* Motor insuranceThis insurance is also known as auto insurance, vehicle insurance or car insurance. This insurance is generally chosen for truck, cars and other vehicles used for commercial purposes. The primary cause of this policy is to provide protection against the losses incurred as a result of traffic accidents and against liability which can be incurred in an accident.

Package policiesThis is an insurance policy which combines coverage of two or more types of insurance into one policy. One can opt for business property insurance and business liability insurance into one policy which would be very much beneficial. This policy gives

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