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Monthly Archives: June 2017

Reduce Bike Insurance Premium

Choose Your Bike Well

Yes, more exotic bikes or the ones with bigger engines definitely will cost more. Also, the unusual or modified bikes are considered to be more expensive when it comes to the repairs and replacement of their spare parts. So, it would be wiser to go for an entry-level motorcycle with a smaller engine. This would attract lower premiums accordingly.

Maintain A Clean Driving Record as A Rider

The insurance company may look at your record for any tickets or accidents. So, if you have more experience as a rider, the less risky you will seem in the eyes of the insurer. This will help you in fetching the best possible premium. Driving safely will help keep your claims low. Which correspondingly would add the benefit of No-claim Bonus to your premium.

Besides a clean driving record, the insurance company also looks at your riding time and experience. That is, how long have you been riding motorcycles and what experience do you have with a specific motorcycle to be insured. The more experienced you are as a driver, lower would be the risk and the cost of premium accordingly.

Avoid Making Small Claims

If you haven’t made any claim in a defined period of time, you are awarded a No Claim Bonus and discounts by the insurer. So, if you make a claim for small damages, you are bound to lose out on the no-claim discount for that particular year.

Vehicle Insurance Coverage

Vehicle Liability Insurance

This basic type of car insurance covers you or another insured driver on your policy, in case an at-fault vehicle accident occurs, this will compensate for the cost or the bodily injuries and the repairs of the car of the third party. Individuals who usually obtain this form of coverage are on a tight budget and minimal assets.

In the event a fatal accident occurs, leading to severe damage, the chances are that the insurance claim will far exceed your policy. Hence the need for an extensive coverage as your assets increases.

Collision Insurance

This form of coverage pays for the damages sustained by your car as a result of a vehicle-related accident, regardless of who is at-fault. So, this policy covers you when you collide with another vehicle or your car gets damaged by some other elements different from colliding with another vehicle. Several scenarios may cause damage to your vehicle that is not resulting from an accident with another automobile and of which may require that you file a claim.

Such scenarios involve colliding with a pole, losing control of the wheels and running into a guard rail. Also, remember that a collision insurance covers only your damaged car and not liable for the third party’s damaged car or property. Liability insurance for damaged property would be responsible for the damaged properties of a third party.

Comprehensive Auto Insurance

This form of insurance offers you a critical cover that keeps your mind at rest. Comprehensive insurance will also protect you against damages not caused to your car by a vehicular crash, but by other causes like fire, water, or in the event your vehicle gets stolen.

A comprehensive cover is best if you reside in an area with high crime rate, where there is a high possibility of your car getting stolen.

Uninsured Motorist

In recent times, auto insurance rates have skyrocketed which makes a lot of people to take the risk of moving around without any vehicle coverage. Now, you could easily guess what would be the outcome in the event an uninsured driver damaged your car; could you afford the cost of replacement? Assuming you recently completed the payment for the vehicle, after six years of committed payment.

It is smarter to increase your premiums slightly and obtain an uninsured motorist protection. This insurance covers you, your passengers, and your car, in case you get hit by a motorist who is under-insured or uninsured. You may either get a UMPD or uninsured-underinsured motorist protection damage or collision deductible waiver (CDW). People with a liability are often the buyers of UMPD; they often ignore the comprehensive or collision policy.

Telematics Insurance

It is essentially a type of mini computer in your car which tells the insurer all about your movements. It is a small device, the size of a cigarette packet and often a small plain black box – hence the common name for such policies being black box insurance. If you are familiar with sat navs, it is essentially the same thing but without the screen. Just like a sat nav, it sends a signal up onto a satellite but instead of bouncing back to plot your position on a map it simply stores the information on the Insurance company’s central database.

Just like the sat nav technology it can plot your position, at any given time, amazingly accurately to five square metres or so. Since the signals are being beamed continuously, the computer can track not just your position but your speed too. This means it can actually calculate your road position, acceleration and braking as well and plot that on a road map, comparing it to the speed restrictions in place.

One of the problems with motor insurance is that drivers tend to get lumped together in groups and labelled. This is fine if it is a ‘positive’ label such as middle-aged and experienced but annoying and, more to the point, expensive if you are a ‘good’ driver but bundled into a group which has a poor reputation. For example young drivers (18-21); night club doormen and comedians (who often drive late at night) or previously convicted drivers.

By choosing to have a telematics insurance policy you are immediately suggesting that you are a responsible driver because you are happy for your driving habits to be monitored. This is why black box insurance quotations tend to attract a discount against comparable policies. Direct Line recently stated that discounts of up to 40% can be earned.

Polices vary in how they work but all work on a similar principle in that they reward responsible driving habits. If you know you are a sensible or experienced driver why should you worry if a computer is tracking your movements? Likewise if you are a law abiding citizen do you really care if the computer tracks you to the staff or station car park, or the local supermarket? It may be different if you are a drug dealer or sleazy politician but most people are not.

One thing that also happens is that drivers ensure they drive more correctly because they know someone is watching them. It is a bit like drivers slowing down when they see speed cameras. If the driver is aware that their actions are being monitored they tend to act a little more judiciously which is a benefit to everyone.

An unrelated benefit is that the black box acts like a tracker device and can provide the insurance company and / or police the exact position of your vehicle should it be stolen.

The main objection to such polices are that this is Big Brother personified. This means that ‘The Man’ can see where you are (well at least where your car is) at any given moment. Your privacy is invaded. Consumer action groups rightly protest about privacy concerns, particularly about who can access such personal data but they cannot hold back the proverbial approaching storm.

The other major problem is that should you breach the various driving parameters imposed by the insurer you will be penalised. This may be a simple as breaching a mileage limitation or it could be because the computer has calculated that you are regularly speeding. It is also fair to say the various telematics insurance providers have a different methodology for fines or penalties which can be very confusing when one is trying to compare policies.

Successful Sales Agent

1) An unwavering commitment to being the best – you have to see yourself as a professional. That means that you must embrace the concept of being a sales professional. You must believe in the company you work for. And you must believe in the products you provide.

2) The early bird gets the worm – we need to start our day off early. That means we need to get up and prepare ourselves each morning. Some do that through prayer. Some through meditation. We need to enter the day with mental preparation working to our benefit. The first 15 or 30 minutes you spend in mental preparation will result in increased sales and more money in your pocket.

3) Read, read and read some more – there is a lot of information on sales that can be derived from reading. Some of the greatest ideas on motivation have been revealed to the world through books ( Success System That Never Fails, Think and Grow Rich, Seven Habits of Highly Successful People and Rich Dad, Poor Dad) titles that have impacted millions for the better. If you want to become a person who makes a difference you need to add to your knowledge. Applied knowledge will result in power for your sales career.