Posts Tagged ‘Questions’

The Most Frequently Asked Questions About Home Insurance

Article by Cliff Berman









There’s a lot to figure out when the time comes to go shopping around for a home insurance policy…or file an insurance claim…or do just about anything else that’s going to force you to wade through the massive realm of legal-ese, insurance-ese and just plain confusing English that makes up your home insurance! Here’s a look at the top five most frequently asked questions about home insurance, and how you can make that information work for you.

How do I get cheap home insurance?

You can tell we’re living in a tough economy, because lately it seems like this is the number one question on everyone’s lips. It would take months to go through all the ways you can minimize your insurance rates, but the bottom line is that it’s all about minimizing risk. If you can minimize the chances that your home is going to be severely damaged as the result of a storm or other “act of God”, make sure you’re ready for any kitchen or bathroom fires that pop up along the way and install a good security system that will let you know if someone is trying to come in and rob you blind you’re going to be in great shape to get the lowest rates possible on your coverage.

How much home insurance do I need to buy?

This is a tricky one. A good guideline is to ask your home insurance agent to issue you a policy for the replacement cost of your home and possessions (i.e. the cost of buying comparable items today rather than what you paid for them ten or fifteen years ago). That way if disaster does strike you’re not left scrambling for extra cash. 0,000 to 0,000 in personal liability on top of your replacement costs is the industry norm, but you can always ask for more if you feel you can afford it.

A quick tip: Don’t just look at the price on your appraisal and call it a day. The price on your appraisal also covers the cost of your land, and there’s very little chance that you’ll have to rebuild your land after a storm. (Crop insurance is another deal entirely.) When you leave the cost of your land out of the picture you’ll find that the cost of your premiums dips significantly.

How much are my deductibles?

The amount of your deductible is going to vary from company to company. What’s important is to make sure you never have a higher deductible than you can afford to pay. Higher deductibles=lower home insurance rates, but you don’t want to find yourself completely out of luck if you have to come up with that money after Murphy’s law strikes again.

Does my home insurance cover my child if they go off to college?

Normally yes, your home insurance policy will extend to your child’s dorm room (and their bike), but your insurance agent needs to know what’s going to be college bound. College campuses are prime places for theft, and you want to make sure you’re prepared.

Does my home insurance cover items in my car?

Much like a dorm, a car is considered a temporary resting spot rather than a full blown relocation. That means your insurance will usually cover items in your car if they’re stolen, including your car stereo, as long as you let them know you want it insured.

How often should I update my home insurance policy?

Most experts recommend updating your home insurance policy with every renewal and each time you buy an item you need to insure. That way you’re never stuck in the awkward position of trying to file an insurance claim for an item your insurance company knows absolutely nothing about.



About the Author

Cliff Berman is the CEO of QuoteScout.com. For more frequently asked questions about your home insurance, visit them on the web at http://www.QuoteScout.com.










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Questions To Ask Before Taking life Insurance

Article by SjoerdN









When looking for Insurance we often think if we really need it? But that’s not the only thing we need to know. Since almost everyone suggests that it is important to take insurance, more important to know is what kind of insurance is required and what to know before taking life insurance?

Why take life insurance?

Life insurance is a security one buys for oneself and for the family. It ensures that if there is untimely death of the earning member, rest of the family don’t have to face the financial insecurity. Life insurance may also be bought to cover specific events during the life of a person through investment linked life insurance plans. So, life insurance should be taken by those

1. Having financial responsibilities2. Having people dependent on them3. Taken loans for home or car etc.4. Looking for secure investment options5. Looking for tax exemptions6. Planning for retirement along with insurance cover

So, identifying the need for insurance is the first crucial step. Purpose of insurance helps decide the type of insurance required.

What all to consider before buying insurance

After identifying the nature or the type of life insurance cover you want, next important things are1. Coverage – How much cover do I need? Calculating a life’s worth is as difficult as it is important. It depends upon the purpose and the nature of life insurance. If it is for the child’s education you may need to calculate how much you may need to spend and at what time to decide on the maturity amount. If it is term insurance, you will need to calculate all your financial liabilities, including loans if any, cost of living for spouse, children or other dependents such that they don’t have to face financial difficulties in fulfilling whatever you had planned for future.

2. Premium – How much premium should I pay? Premium you pay for the insurance depends upon things like nature of insurance, sum assured, age, health, duration of cover and other benefits offered by the insurance company. Life insurance in which you get some money in the form of maturity amount have higher premiums than a pure term insurance plan. Many life insurance policies will require you to undergo medical examination. Your medical report is important in determining insurance premium. Younger the insured person, lesser the premium as insurance companies consider older people more liable to health issues.

3. Benefits – What benefit do I get from my life insurance? Identify what benefits you will get out of life insurance. If it is a pure term life insurance, all you get is sum assured in case of death of insured during the insurance term. If it has to return of premium, you will get a maturity amount at the end of the insurance term. Similarly, if you are opting for investment linked life insurance like money back, endowment or child plans, it is netter to go through and understand all the benefits that you may get for taking the policy.

How to go about buying Life insurance

One you have decided upon the purpose of insurance and the sum assured, you will generally have an idea of what you are looking for. The next step is to compare insurance quotes of different companies so that you get the best deal.

Insurance is a long term commitment so make sure that you decide on a premium that is convenient for you to pay and sum assured is enough to cover your requirement.



About the Author

Easy Policy, We make buying online insurance policies offered by different companies in India easier. Compare insurance quotes and get best rates for Child Plans, Health insurance, car insurance, travel insurance and term insurance at Easypolicy.










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Life Insurance Questions And Answers

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Life Insurance Questions & Answers

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Home Insurance Questions And Answers

More Home Insurance quesions please visit : InsuranceQuotesFAQ.com

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Questions to Ask Your Small Business Insurance Agent When Purchasing General Liability Insurance

Commercial General Liability Insurance is one of the most commonly purchased types of small business insurance. But many small business owners still have lots of questions about what it is, why it’s needed, and how it works. Here are answers to the top five questions we hear from our small business clients about general liability coverage.

1. What does general liability insurance cover?

General liability insurance covers claims of bodily injury or other physical injury or property damage. In the event of a covered lawsuit, such policies will typically pay for a legal defense as well as compensatory, general and punitive damages.

A typical general liability insurance policy covers:

- Bodily injury and property damage liability: If a visitor is injured on your premises, or you or your employee injures some or damages property on your client’s premises.

- Personal and advertising injury: Certain offenses you or your employees commit in the course of your business, such as libel, slander, disparagement or advertising copyright infringement.

- Medical expenses: Applicable medical costs if someone is injured and needs medical treatment due to an accident on your premises.

- Premises and operations liability: Bodily injury and property damage sustained by others at your premises or as a result of your business operations.

- Tenant’s liability: Claims of damage due to fire or other covered losses caused by you to premises that you rent.

Please note that this list includes typical coverages afforded under some policies. Be sure to examine your own policy carefully for any exclusions, limitations, or any other terms or conditions that may affect your coverage. The terms and conditions of your policy will prevail.

2. Why do I need general liability insurance?

Even if you don’t expect to ever face a claim, General Liability Insurance is a smart, inexpensive investment in your company’s future. Accidents do happen, and people who are injured or whose property is damaged will expect compensation. Although such accidents may be no fault of your own, you’ll still be held financially responsible for them, and it only takes one such incident to break the bank for most small businesses.

In the event of certain types of lawsuits, even if you feel you’re not at fault, you’ll likely spend a hefty sum trying to prove it in court. For covered suits, general liability insurance pays for a legal defense and any settlement award, up to the limits specified by the policy.

Additionally, many client companies will have contract requirements that mandate that their business partners or vendors carry general liability coverage. Such contract requirements protect the client from incurring any costs in the unlikely event that someone or something should be injured or damaged in the course of your business relationship.

If you’re still not sure if you’re one who needs general liability insurance, there’s no cost to speak with an agent or broker for advice and a no-obligation quote.

3. How do I determine how much coverage I need for my business?

Your insurance agent or broker can help you assess the potential liability for your business, which varies depending on the type of industry your business engages in, as well as other factors.

Your location is one consideration, as courts in some states have historically made higher damage awards than those in other states. Businesses in those states may wish to consider carrying general liability insurance with higher coverage limits.

Lower-risk businesses, such as accounting firms or IT consultancies, may feel comfortable with lower coverage limits, while businesses in higher-risk fields, such as construction, may need more coverage. For small businesses with less risk, a combined general liability and property insurance package may be a cost-effective option. Such dual policies are known as a Business Owner’s Policy or BOP.

4. I’m worried that the coverage limits on my general liability policy aren’t high enough. What can I do to be sure I have enough coverage if I get sued?

If you’ve got a million general liability policy, but you’re worried that you’ll be sued and your legal costs and court-ordered settlement could be even higher than million, you may wish to purchase an excess liability insurance policy. What is this type of insurance? Also known as umbrella insurance, excess insurance is an inexpensive way to provide additional coverage when the limits of insurance on an underlying policy are exceeded.

For instance, if you have million in general liability

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