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Monthly Archives: October 2017

Child Insurance

Child insurance plans carry dual benefit for the child. First, they help generate a good corpus by investing the premiums in a fund that can either be endowment based or ULIP based. Second, they provide a life cover to the investing parent of which the child is the beneficiary. In case of the death of the policyholder, the insurance company waives off the future premiums and continues to invest in that fund on the policyholder’s behalf. Moreover, it pays a lump sum or period amount for the maintenance of the child. Thus, these plans protect the interest of the child even when you are not with him/her.

Saving money on our own can be difficult as we cannot be that much disciplined unless we enter into a plan which necessitates us to deposit a particular amount or else it would lapse. Such routine is mandatory for systematic saving and investment. The returns from other funds or investments can get spent on other things. That is why it would be better if you have a dedicated child plan in your investment portfolio of which only your child would be the beneficiary.

As per financial experts, investing in such a plan should be started as early as possible to have more time for your money to grow. Ideally you should start comparing child insurance plans of various companies as soon as you know about the pregnancy. There are over a score of companies selling such plans and offer differentiated plans to stay competitive. Effective plan comparison and market research shall ascend you towards the most suitable plan from a reputed company.

For effective comparison you may try services of an insurance web aggregator. On a web aggregator website you can compare plans of scores of companies at a single web location and that too free of cost. Such effective comparison brings more confidence in your purchase and helps you take educated steps in selecting your plan type. Based on such comparison and analysis you can decide whether to go for an Endowment based child plan or a ULIP based child plan. Comparing premiums with your budget you can decide how much cover to go for.

Finding Fleet Insurance for Business

Ideally, as a company, you want to find the best level of cover at the lowest possible price, which is why it’s imperative you shop around.

Don’t go for the first good deal you see, it’s a better option to get a minimum of three quotes. Getting three quotes is easy; you can ask each company to email through their suggested quote, giving you something in black and white to work with. This also gives you control in choosing the best business fleet insurance to meet your company needs.

Once you receive the quotes, you can start doing some essential research on each of the companies. To find the companies you can search online or you can ask other companies in your local area that they use for their policy and their experiences.

What you are looking for when you search online is the company’s reputation and how other customers feel about their experience. Remember you are purchasing business fleet insurance, so you can’t take any chances when it comes to the safety and protection of your vehicles on the road.

Going through the online reviews and reading through the forums, may give you the ability to narrow down your list. You may find one of the companies doesn’t have the best reviews and therefore should be omitted from your selection.

Once you’ve done all your research, it’s time to review each of the quotes. Reviewing the quotes gives you the ability to ensure that they are offering the best level of cover to suit your company requirements.

Go through each one individually checking to see what cover they offer. Remember in some cases when you ask for an online quote, you will be offered the most basic cover, which can be third party rather than comprehensive. If you find anything on the quote you feel is wrong, contact the company and get them to readjust the price accordingly.

Asking the company to do some minor amendments to the policy quote is a chance for you to determine their flexibility, as you will probably be adding and removing vehicles throughout the policy.

When you have the correct figures in front of you for each of the companies, you can compare them against each other. Ensure you take everything you have learned about each of them into consideration and remember when it comes to business fleet insurance; the cheaper price isn’t always the best option. You may find one of the companies offers a fast claims process and are dedicated to their customers, but they may charge slightly more.

Be sure to phone each of them and ask them about their claims process. The claims process is exceptionally important when it comes to business fleet insurance, as you cannot afford to have a vehicle off the road for a long period of time.

When you feel you have one company that stands out and is offering superior business fleet insurance without breaking the bank, they are professional, knowledgeable, and flexible and they have a fast claims process, then sign on the dotted line and enjoy the peace of mind that you have good cover for all your vehicles on the road.

All about Car Insurance Details

An auto insurance policy gives you protection against losses in the occurrence of an accident or your car being stolen. This is an agreement between you and the company. You pay a premium while the company, in turn, agrees to pay for your losses as stipulated in your policy up to a certain specified limit. This provides property, medical and liability coverage in the event a claim is filed.

Property coverage pays for the damage or the theft of your car and medical covers payments for the treatment of injuries. Many extended coverage policies will also pay for rehabilitation and funeral expenses. Auto liability insurance coves you in the event a crash occurs that you were deemed responsible for. Almost all states require you to carry minimum amounts of liability insurance, but not all of the various options, such as comprehensive.

The basic benefit of having insurance is the financial peace of mind gained from the policy. This benefit varies based on the type of policy you buy. Many companies evaluate your risk level before they come into a contract with you. They calculate the possibility of accidents happening while you are driving, the number of hours you drive and so on.

This in term makes them group you into a low risk or a high-risk group, which in turn will determine to a large extent your rates. The major differences between these groups is simply perceived risk. Those with low risk are said to be eligible for a standard insurance while those with higher risk are said to be tagged as non-standard drivers and will pay more.

These policies have little or no difference from one another, in terms of the price of the policy and the scope of their coverage. This policy has specific determining factors for coverage. For example, the auto insurance policy only covers drivers with clean driving records that have no traffic violation, accidents and filed insurance claims. A standard policy has more restrictions and is regulated by the state where they are issued.

A lot of drivers are considered to be of high risk or non-standard by most insurance companies today. The number of drivers who have fallen into this category has increased over the last decade. Drivers who are placed in this category based on driving records, age, experience, credit history records, driving records, hours of driving and other factors are time and again turned away by some insurance companies.

In some cases, inferior coverage options are offered to non-standard drivers and at very costly rates. Drivers fall into the non-standard category mostly because of their driving records. This includes people who have had their licenses revoked or suspended in the last couple of years and those who have excessively violated traffic or have been arrested and convicted of driving under the influence (DUI) or driving while intoxicated (DWI). Senior citizens, new drivers and teenagers are also considered non-standard drivers.

There is a wide range of coverage for non-standard drivers, so you can find a policy that suits your need whatever the situation may be. If you have been labeled as a high risk or a non-standard driver, it is probably because of your age, your level of experience, driving record and other factors. Don’t be discouraged, you still have many options for auto insurance. Countless drivers in all categories find the insurance policy that best suits them with a pocket-friendly rate, coverage options, and customer service that can’t be beaten.

GAP Coverage Auto Insurance

GAP will cover the amount on the loan that is the difference between the value of the vehicle and the amount that another insurance policy covers. Typically, your finance company will offer you this kind of coverage at the time you purchase the vehicle. Most auto insurance companies offer this coverage as well to its consumers.

You can obtain GAP through two ways: through your insurance company or at your dealership. If you choose to obtain GAP Coverage through your insurance broker, this is regulated by the insurance industry.

Either method you decide to acquire it, the coverage will be the very same and it is offered as a soft product through the automobile dealer. The protection is typically financed along with your lease or loan. Any type of claims you submit are subject to an absolute loss, that is generally established via the third-party evaluator with the primary insurance company.

Exclusions to your GAP Coverage Auto Insurance vary by the country or state. Many states in the United States require that a car dealership offers GAP at the point of purchase of a used or new vehicle. Some other states only require that an insurer offer it if the client asks about it.

It’s important to note that GAP coverage is an optional product. Some of the finance companies require you to obtain it as a condition to obtain a loan from them. The Truth In Lending Act does leave out GAP Protection premiums from any financial expenses in the case that it was not mandated by the financial institution, or if premiums were not divulged in writing, or if the customer gave a written request for the insurance policy.