Tag Archives: Insurance

Car Insurance Groups – How do they work?

Introduction

When looking for a new car, one thing that may influence your decision (especially as a young driver) is the insurance premiums you’re likely to have to pay. Aside from comparing the prices of each and every car you come across, one way of getting a rough idea of the insurance costs is to look out for the vehicles insurance group.

Car InsuranceInsurance Groups

Each road legal car will be given an insurance group of between 1 and 50, 1 being the lowest price insurance and 50 being the highest. There are a number of factors that determine what insurance group a car is placed in; here are just a few:

  • The time required and cost of repairs
  • The value of the car when its new
  • Performance aspects e.g. top speed and 0-60 speed.
  • Security features

Examples of Insurance Groups

Group 1 – Fiat Panda (04 – 11), Vauxhall Corsa (06 on), Volkswagen Fox (06 -12)

Group 5 – Citroen C3 (02 – 10), Fiat 500 (08 on), Seat Ibiza (02 – 09)

Group 10 – Audi A1 (10 on), Ford Focus C-MAX (03 -10), Vauxhall Zafira (05 on)

Group 20 – Audi Q5 (08 on), Honda CR-Z (10 on), Land Rover Freelander (06 on)

Group 30 – Alfa Romeo Spider (07 -10), Range Rover Evoque (11 on), Mercedes C-Class (07 on)

Group 40 – Audi TT RS (09 on), Jaguar XF (08 on), Range Rover Sport (05 on)

Group 50 – BMW 7 Series (08 on), Chevrolet Corvette (98 – 04), Ferrari F430 (05 – 10)

It’s easy to see from this depiction that the higher the performance of the car the higher the insurance group.

Is Insurance Group the only Determining Factor?

The simple answer is no, it’s not. Insurance groups are only a guideline for insurers; there are a number of other factors that will affect the price of your car insurance, the main one being yourself and your driving history.

Young drivers will generally find their prices will be relatively high regardless of the type of vehicle they are looking to insure. Other factors that will influence insurance premiums quite heavily are your occupation, this is because this will generally dictate the hours you are driving (e.g. late nights or 9-5). Any claims or convictions are also likely to bump your premiums up quite substantially.

Generally speaking though, if you are looking for a new car however your budget is tight then look out for the insurance group of the vehicles as this could be a place where you could save large amounts of money.

When looking for the cheapest car insurance try both comparisonwebsites and direct insurers, this will give you the best chance of covering all insurers and indeed finding the cheapest quote.

This article has been written by Jason Scott on behalf of Guarantor Loans Online. For more top money saving tips

 

How to Pick an Online Life Insurance Company

Taking out life insurance is a wise decision whenever you make the decision to buy this coverage. In the past, people used to believe that life insurance was only meant for people that reaching a certain age, should think of having money to retire or to provide their beneficiaries with some cash to cover funeral costs and early expenses after an individual passed away. Today, we all know that life insurance is never superfluous and that anyone can buy a life insurance policy at any stage of life. life-insurance

Life insurance is in fact necessary when an individual works or lives in a dangerous environment, likes to embrace hazardous activities, or has to put his or life at risk for any other reason. You can also take out life insurance, resting assured that your beneficiary will not be left unprotected, financially speaking, although there are some other good reasons to take out this insurance and enjoy the benefits for yourself without having to die first.

  • Key Points to Keep in Mind

Despite nowadays it is very easy to find an online life insurance company, there are some key points that you must take into account before considering any option to buy from such company. Because there are, also many scam companies, or unscrupulous insurance salespersons that may try to sell you insurance that you do not need, or that is not what you expect.
Your checklist should include these considerations:

  • Insurance companies or insurance agents and brokers must be licensed entities
  • Make sure to understand what is the right life insurance that you need
  • Get quotes from at least three different insurance companies
  • Compare rates and make a background check to learn more about prospective insurers

A licensed insurance company, broker and agent has to abide by the terms of regulations of renowned organizations that guarantees you are buying insurance from a reputed service.

On the other hand, it is necessary that you know what are your life insurance needs and what are the options you can take out. Basically, there are two types of life insurance:

  • Term Life Insurance and
  • Whole Life Insurance.

However, there is optional life insurance coverage that could be included in your policy such as Accidental Death and Dismemberment coverage that you may not need, but you may buy if you are not aware that you have the option to select a plan that meets your insurance needs.

  • Shopping Around for Online Life Insurance

Once that you have browsed several listing and the websites of different insurance companies, devote some time to learning more about the company from which you are about to buy your life insurance policy. Many websites have on-site testimonials that may say wonders about the company or a specific insurance agent or broker. Those testimonials might be fake feedback from imaginary customers, or might be real people’s experience.

It is always better to learn more about an insurance company by searching opinions that people leave in review and customer satisfaction websites. Buying life insurance is not a kid’s game, so make sure to find the right life insurance company by following the above tips.

What Does Renters Insurance Cover?

Renting a house or apartment is always a good way to cut costs that homeowners have to pay, including home insurance. If you have ever rented a property or you are about to rent one, it is good that you know that the insurance you will be granted with by your landlord might not be enough. People tend to believe that a renting contract includes full coverage over the property and the tenant’s belongings inside of it, but this is not usually the case. A landlord’s insurance policy often cover the structure resulting form natural or human damage, but tenants should always buy their own renters insurance to play it safe.

renters-insuranceIndeed, you can take our renters insurance, which is an insurance policy that is not publicized at all, but does exist. Renters insurance basically covers your belongings, which are not covered under the landlord’s insurance policy. This type of insurance policy also covers a few other aspects that you would probably not have realized at first, but that you may need to be aware of, such as the following.

  • Bold Point in Renters Insurance Coverage

Some people think that their belongings are not of great value, so it is not worth buying renters insurance. In fact, many people simply think that whatever happens in the rented home will be covered by the landlord’s insurance, but now you know it will not. If you are still unsure of taking out renters insurance, or you cannot figure out what the benefits are that such policy carries, these are the main aspects that renters insurance carries out:

  1. Personal possessions loss or damage coverage
  2. Injury coverage for people visiting your home
  3. Protection from thievery actions
  4. Disasters that are not covered by the landlord’s policy

In this last matter, one good example is fire produced by your own imprudence or negligence, which can be determined at the moment to pay the landlord’s policy. A good company for researching rates is Renters Insurance.net.

  • Types of Renters Insurance

Most common renter insurance policies are the HO-4 and HO-6 which cover riot, burglary, theft, vandalism, water and smoke damage, falling objects, electrical surges, fire, volcanic eruption, and lighting, However, there are other standard policies that may include earthquake or flood damage or loss. Available renter’s insurance policies may vary according to the specific region you live and some renter insurance policies may not include full coverage, but require that you get extra protection.

In addition, there are two options in renting insurance to choose from Actual Cash Value (ACV) and Replacement Cost, which determines the payment you will receive in the eventuality to make effective your policy. ACV is usually a better option if your possessions include a large number of household appliances and electronics to protect yourself from depreciation.

On the other hand, be aware that most renter’s insurance policies will not provide you coverage for costly jewelry, firearms, or large amounts of cash on hand. Some insurers may provide you with limited coverage on this matter and most of them will not include equipment that you use to run a home-based business nor liability, so it is advisable that you purchase additional insurance for all those aspects not covered by the renter’s insurance policy.

Public Liability Insurance for Self-Employed Hair Dresser

Public-Liability-InsuranceThe adage, ‘First impression is the best impression’ holds good even today. Physical appearance of a person is also taken into account while understanding and judging the personality. It is not that the physique of a person will ultimately determine his nature, but if a person has groomed himself really well, it shows that he has got interest in himself. This is a sign of positive self-esteem. The way a person present himself will show how smart he is to get prepared for the meet and it also reflects his sense of choice and taste.

To make sure we look presentable, we get the aid of experts. One of those experts is the hairdresser. Hair contributes majorly to mould the appearance of a person and that is why we need hairdressers once in a while. Tools like hair brush, scissors and blower, act as a magic wand by the hairdresser to give us a totally new look. You are that magical hairdresser which is why you are reading this right now to find how you can get the best hairdresser’s public liability insurance.

Public liability insurance

Public liability insurance UK is for all professions and trades that a person can be into. insurancepublicliability.com covers all the risks pertaining to the public. Any damages that third party faces to their property or any injury to the public is covered. Any person whose trade involves interacting with the public on a one-to-one daily basis should have public liability insurance. This not only covers them in times of claims, but also makes sure that their repute is unhurt which will indirectly increase the goodwill of the trader.

hair dresserA hair dresser will need public liability insurance if they are a sole owner and operator, mobile practiser or a sub-contractor. Once you are into the practise of hairdressing, you need to make sure that the people coming to you return satisfied and compensated for any claims they make. Today most of the people are self-employed and so there is huge demand for self-employed public liability insurance.

Public liability insurance for self-employed hair dresser

Public liability insurance quote will be based on the way you operate your business. There is £1 m, £2 m, £5 m cover from which you can choose. Public Liability Insurance cost can be got along with employer’s liability insurance in case you have got any employees.

Important Resources:

http://www.businesslink.gov.uk/bdotg/action/detail?itemId=1074301656&type=RESOURCES

http://www.business.gov.au/BusinessTopics/Insurance/Typesofinsurance/Pages/Liabilityinsurance.aspx

Save on financial products

If you are an individual or the head of a household and you are looking for ways to save money on your monthly budgets, you have many more options than you may think at first. Contrary to popular belief, absolutely everything that you pay for within a monthly budget is up for negotiation, not just clothes and food. For instance, you can very easily get a lower payment by using price comparison web sites to make everything from a life assurance comparison all the way to auto insurance and finding a new lawn company or covering your water and cable bills.

The solution that you are looking for was not always available, and many people have a great deal of trouble reconciling this fact with themselves. But the fact today remains that the price comparison web sites of today remain a great resource for comparing different programs from competing companies in a straightforward fashion. This will allow you to compare apples to apples, rather than the apples to oranges that the individual salesmen of each individual company loves to do in order to make themselves look good.

Life assurance comparison is just one of the many places that you can save money on the every day expenses that are clogging up your monthly budget. There are many others, such as auto insurance payments, disability and unemployment insurance if you are self employed, as well as the known essentials such as groceries and clothes.

You also want to make sure to have a membership at your local warehouse stores so that you can minimize the cost of essentials such as bread, sugar, flour, undergarments, cereal, fruit, and other essentials as much as possible. These items are usually much less expensive when they are purchased in bulk.

As you continue to save the money on your essentials, you will have a great deal more money to put toward your financial products, which will allow you to save even more money. For instance, if you have a little money left over after paying off all of your immediate bills and taxes, and after you have maximized your investments in your long term retirement financial vehicles, you can save a great deal of money on medical premiums by placing some of your money in a health savings account.

One of the benefits of a health savings account is that it places you one step closer to becoming self insured, which, if reaches, completely eliminates the line item from the monthly budget. Most people will never achieve this ideal, but the more money that goes into a health savings account means less money that comes out of your pocket for the monthly premium. With many health savings accounts, the unused portion of your funds will also have the opportunity to actually make you money due to the interest that it accumulates.

It is also essential that you bookmark the price comparison web sites that give you the best information as you should come back to re-check your prices every six months.

Accident, Sickness and Unemployment (ASU) cover

Accident, Sickness & Unemployment insurance (ASU) is also known as mortgage payment protection and this is the best way of getting covered when you have fallen sick or met with an accident. Since you will not be able to work for a temporary period, ASU cover will give you a monthly benefit to cover your mortgage and other related costs.

According to the type of cover, you may decide how much you will like to receive in the benefits. The premium will be a certain percentage of the amount you will like to receive as a monthly income. These benefits can be payable for a maximum of 12 months.

There are different kinds of benefits as per your requirements. You may receive benefits on the basis of your requirements like accident, sickness or unemployment or because of a combination of all. Most of these policies generally have a deferment period. You will start receiving benefits after a certain period after you have become ill, or met with an accident or you are going through unemployment. Generally, there is a waiting period between 30 – 90 or sometimes longer. With a 30 day waiting period, on the 31st day of unemployment or disability the claim is back dated to day 1 & paid in full.

There will be no insurance cover if you have deliberately got a self injury, riding on a motorcycle, dangerous sports or occupations, working as a professional sports person, or any injury or condition related to normal pregnancy, stress, backache or which you had prior to your application for cover, AIDS related conditions, conditions due to drug and alcohol abuse or your criminal activity.

There will be no unemployment cover if you were already aware of the reasons behind your unemployment. You will also not qualify for any kind of coverage if your work is seasonal or temporary or you can accept voluntary unemployment. However, if you are working on a contract basis, then you may qualify for unemployment cover provided you fulfill some requirements as mentioned in the coverage policy. Go through the terms and conditions thoroughly and check out the exclusions in your policy. You will not qualify for any kind of cover if you get sick within 60 days of the policy. And there will be no unemployment cover during the first 180 days of your policy.

Anyone between 18 – 60 years of age and a UK resident can apply for Accident, Sickness and Unemployment cover. If you are applying for unemployment cover, you must be in employment for at least 16 hours per week for the last 6 months.

Life insurance for women

Most of the women often have the tendency that the financial decisions should be taken by men. There are so many of us who balance our checkbooks, do our monthly budgeting and probably manage the household finances. but if we have to see deep inside, how many of us have been able to build a strong financial foundation for ourselves?

I am working in a financial service industry and I have to review many different portfolios, all belongings to women of varying backgrounds. When I am reviewing anyone’s portfolio, the first thing that I will like to check is whether it is built on a stable foundation, which can always begin with life insurance, a will and a savings plan.

There was one of my clients who came to me to seek financial help after she went through a divorce. She had many adjustments to make but she gave the maximum priority to taking charge of her finance. I reviewed her information and found that she had established a strong college program for her son’s education. She also had a retirement plan in which she added one percent to each month. She did not have any kind of savings or life insurance. Her ex-husband owned the life insurance coverage through his company. I suggested her suitable life insurance according to her situation and assisted her in getting a will drawn up. I also helped her in establishing a savings plan.

In order to make a strong financial portfolio, it is important to have a good life insurance, a healthy savings plan and a legal will and I included these vital elements in my client’s portfolio. A life insurance is a must for everyone because it ensures a good life for your loved ones after you are gone and they don’t have to face any financial difficulties. You might be easily able to afford a 401(k) plan, but without a life insurance, your financial situation is not that much secured for your future.

There are so many women who do not have a life insurance at all. Those who are above 45 years of age won’t even qualify for any kind of insurance coverage. Due to the recent downsized economy, more and more younger women are purchasing more coverage.

A good will decides your rights to dictate how your assets will be handled after your death. A savings plan will definitely give you more protection in the future just in case if something goes wrong with your finances. A good planning will mean a lot to our loved ones. If you have not decided anything yet, its time to do some serious thinking now and rebuild your financial picture.