Auto Insurance Companies

Auto Insurance Companies - The Difference between Auto Insurance Companies

The people often wonder what the difference is between auto insurance companies. They assume that they are all pretty similar and so they don't bother to do a lot of comparison shopping when it comes time to purchase car insurance. This is a mistake that can come back to bite you were it hurts; in the wallet.

The car insurance companies are very competitive with one another which is good news for you as the consumer. These companies are competitive, but since insurance is so tailored to the individual consumer some companies will have better deals than others for certain classes of drivers.

This is where shopping for auto insurance online comes in. By visiting an online auto quote web page you can get quotes from as many as five different companies at a time. You may be surprised to know that the difference between these quotes can be several hundred dollars in some cases. The reason for the difference is that different car insurance company's use different statistical models when in order to determine a specific auto insurance rate.

The information that is currently available online gives the consumer all the facts they need to purchase the least expensive policy that is available to them. It is important to remember that the least expensive auto policy may not be the one that best suits your needs however.

When purchasing automotive insurance it is important to buy a policy that has the coverage level you need to protect you financially in case of an accident. Do not sacrifice coverage just to save a few bucks a month unless you have no choice. Many states have a minimum amount of insurance you are required to carry so you should check with your local DMV to see how much auto insurance you are compelled to carry before shopping for a policy.

Don't Buy Car Insurance, Why?

Don't Buy Car Insurance - Until You Learn the Language

Let's be honest for a moment. How many of us fully understand our car insurance policy? For instance, can you explain the difference between your comprehensive clause and your collision coverage? If not, you are certainly not alone. Most of us just sign on the dotted line and trust our agent to understand the mumbo-jumbo of car insurance speak.

By taking a moment to learn five basic definitions, you can feel more confident when talking with your agent. It's likely that more confidence will prompt you to ask more questions, and with that added knowledge comes added negotiating power, better coverage, and lower rates. So let's start translating a few car insurance terms.

1. The Liability - Bodily Injury and Property Damage (BI/PD)

This coverage provides protection if you are at-fault in an accident that causes injury to people or damage to property. Property damage includes physical damage to other vehicles as well as other property, such as a building, sign, etc. Most states require a minimum limit of BI/PD coverage. Higher limits are usually available and always recommended - it's wise to consider the worst case scenario. If you are in an at-fault accident and total a very expensive car, yet have low liability limits on your insurance, you'll be responsible to pay out-of-pocket for the damage.

2.The Collision Coverage

This coverage pays for damage to your car caused by an at-fault collision. This could be a collision with another vehicle or other property, such as a building or sign. This coverage includes a deductible and may be required by a lender for a financed vehicle. This insurance also applies to hit and runs and uninsured motorist coverage but keep in mind you'll have to pay your deductible to repair your car in either case.

3. The Comprehensive

The coverage pays for damage to your car for reasons other than a collision. This includes theft, fire, vandalism, windstorm, etc. This coverage includes a deductible. Collision coverage and Other-Than-Collision coverage are collectively known as "Physical Damage" coverage. Comprehensive coverage may be required by the bank that finances your vehicle.

4. The Uninsured Motorist Coverage (UM)

In a perfect world, everyone would have high limits of auto insurance and this coverage would be unnecessary. Unfortunately, this is not the case. UM coverage kicks in if you are in an accident with an uninsured driver. Limits are similar to limits of liability and some states require at least a minimum limit of UM.

5. The Medical Payments Coverage

This coverage pays reasonable medical expenses incurred by you or a passenger(s) in an accident. The limit is per person and is usually a dollar amount. Different states have different specifics on this coverage so talk to an insurance agent in your area.

Following an accident, these five coverages work together to get you back to where you were before the accident. Some of the five may be mandatory, depending on where you live. Others, while not required, should be carefully considered since their contribution to your claim may be essential.

Home Insurance Basics

Homeowner's insurance, also called property insurance, protects you from damages to your:

A dwelling is the structure you live in. For coverage purposes, dwelling also includes any attached garages or units. A basic homeowner's insurance policy may also cover damage to detached structures on your property such as a shed or swimming pool.

The Personal property:
The personal property includes furnishings and other belongings that you use, wear or collect. A basic policy insures these items from theft or peril-related damages. However, jewelry and other collectibles often require separate coverage.

The Liability:
The liability coverage pays for accidents that occur on your property for which you are held responsible. Liability includes a neighbor being hurt on your property or someone tripping on your child's bike left on the sidewalk.

The Living expenses:
In case you have to live elsewhere while your home is being repaired for a claim, a basic homeowner's insurance policy is likely to cover additional living expenses that you incur.
Like any other type of insurance, you pay a premium to buy a homeowner's insurance policy. An insurance company bases your premiums on:

Claims in your area. An insurance company will look at the history of claims in your neighborhood to estimate a premium.
For example, if your neighborhood has experienced a high rate of burglaries or wildfires, you will likely pay a higher premium.

Your claims history: If you are renewing a homeowner's insurance policy and have made several claims, you should expect to pay a higher premium. In extreme cases, insurance companies may decide against renewing a policy.

The value of your home:
You can obtain policy coverage for the replacement value of your home or its actual cash value. Replacement cost coverage protects you from inflation in home-repair costs. Actual cash value insures your home for its current value.

The actual cash value is likely to be lower than replacement-cost value for all but the newest homes since homes depreciate over time from age and use. Mortgage lenders generally require coverage for the replacement-cost value of your home.

Deductible:
A deductible is the amount you pay before the insurer begins to pay your claim. By paying a higher deductible, you're sharing the insurer's risk of paying a claim on your home. As a result, the insurer is likely to offer a lower premium.

Safety measures:
Installing fire detection, sprinkler and theft-deterrent systems can help you to lower your premiums. You can also take steps to reduce the possibility of an accident occurring on your property.

Be sure to read your policy carefully to see what perils are covered and what are excluded. Damage from storms, lightning, fire and smoke is generally covered in a basic homeowner's insurance policy, but damage from earthquakes or floods is generally excluded. These perils, along with hurricane and tornado coverage, often need a separate policy or policy rider.

Together with auto insurance, homeowner's insurance constitutes what is called property & casualty insurance.

It's Critical To Maintain A Current Home Inventory

Why?

Nobody ever thinks a fire is going to burn down their home, and with any luck, it won't. But we can't count on that. That is why we need to take certain precautions to make sure we are as prepared as possible for those "just in case" disasters. To be fully prepared, keep an up-to-date home inventory in a safe spot.

Help Get Your Belongings Replaced from your Homeowners Insurance Provider

While a well-thought-out safety plan is definitely the most critical thing to do, it's also very important to make sure you can get reimbursed for your personal possessions from your homeowners or renters insurance company as quickly and easily as possible. Think about it; can you accurately list from memory everything in your house? Most people cannot, and that is why it's important to have a list, and, if possible, receipts and purchase information.
A Basic Home Inventory and Homeowners Insurance

If you don't yet have a home inventory, thinking of starting one can seem like a monumental task, especially if you've been living in your home for a long time. While the best time to start your list is when you're just starting out in your first home or apartment, or have just moved to a new home, it can still be an achievable task in that home you've lived in for several years. Just start one room at a time. Remember, a partial inventory is better than no inventory at all.

Go room to room and note down every item you see in that room. Try to get serial numbers for the big ticket items, and write down when, where, and for what price you purchased each item. Make sure you remember to go into closets, cupboards, and storage areas and write down the items in these as well.

While some items you own have depreciated in replacement price (televisions, electronics, furniture, etc.), some items may have increased in value (such as art, jewelry, and collectibles). You may need to insure these items separately; check with your insurance agent and find out if your current policy adequately covers these valuables.
Take Pictures Or A Video of all Your Belongings

It is a good idea to take pictures or make a video of the items in your home. If you take pictures, write on the back the details of the items in the pictures. If you take a video, narrate as you walk from room to room (what items are in the room, when and where you bought them and for how much). Photographing or videotaping your home's inventory can be especially helpful if items are hard to describe on paper or for items you do not have receipts for.
Store Your Home Inventory in a Safe Spot

Make sure you store your list, pictures, and/or DVD or video tape in a safe spot. While it's a good idea to have a copy at home, make sure you have at least one additional copy outside your home. If you only have one copy inside your home (or on your home computer) and your home burns down, that list won't do you any good. Store extra copies at a friend or family member's house, in a safe deposit box, or at work. If your inventory is on your computer, make a disk or CD and store it elsewhere, and/or send your list to yourself at work or to your web-based email account so you can access it in places other than your home.
Keep Those Receipts for Home Insurance Claims

Many of us are not great at keeping our receipts for purchases. Now that you've read this article, make sure you keep receipts from now on, especially for those big ticket items. These receipts will help you settle your homeowners or renters insurance claim as quickly as possible. And remember, keep receipts (or copies of them) in a place besides your home, along with a copy of your home inventory.

Personal Insurance

What the Federal Stimulus Package Will Be Bringing: Transmission of Electronic Medical Records

Physician's offices will be able to more quickly access patient insurance information from HMOs and other health plans in the state under a new electronic service being rolled out by Covisint.

The new program will allow physicians to log into one computer network and access a variety of information, such as checking patient insurance coverage and claim status. Transmission of electronic medical records is taking on a new urgency because of the nearly$21 billion in proposed spending to promote it in the federal stimulus package.

To get A Good Deal on Your Travel Insurance
You have shopped around and found a great deal on your trip, so why not shop around for cheap travel insurance? Cheap travel insurance is available, especially if you are looking for travel insurance online. Check out these tips to find the best travel insurance deal.

Weekend Insurance Tip: Learn About Short Term and Temporary Health Insurance
Short term or temporary health insurance is health insurance that just lasts for a certain period of time, typically 6-12 months but sometimes policies are as short as 30 days. Short term health insurance works the same as long term health insurance.

Depending on the policy, you will get a health insurance card and will have a deductible and limits on services. Although short term health insurance works the same as long term health insurance, one needs to realize that there is a major difference in coverage.

Life Insurance Settlement for Quick Cash?

In these economic times, everyone is looking for ways to get cash. If you have a life insurance policy you may have considered a life settlement. Retirees seeking extra cash last year could sell a $5 million life insurance policy to investors for $1 million. Today, the price is as low as $600,000." According to the same article many people are now trying to sell their life insurance policies.
Do you have a life insurance policy and have considered cashing out or a life settlement? Understanding what is the best life settlement option for you starts with research.

Weekend Insurance Tip: Keep a Well Stocked Emergency Travel Toolbox

Are you ready for your summer trips? RVing has become one of the most popular ways to take a trip with one's family in America. It has also become a way of life for many who call themselves "Fulltimers." Whether you are taking a short trip or are on your way to becoming a Fulltimer, your RV emergency toolbox should be well stocked.

Foundation for Health Coverage Education
This is an absoultely great site that everyone should take a look at it. If you are someone you knows needs help finding affordable or even free health care coverage the Foundation for Health Coverage Education website is the place to go. The website will guide you through eligibility information and help with searching, state-by-state, for available health care coverage in your area.

Car Insurance: Articles, Savings, Shopping, and More
All about auto insurance. Find car insurance articles, companies, faq's, rating information, state specifics, news, laws, glossary, car insurance quote savings information, claims information and more.

Your First Car Insurance Policy
To get your first car insurance policy may not be a priority but it should be. Car insurance protects one of your first investments, your car. But car insurance can be complicated and often new car insurance shoppers fail to compare car insurance rates and in turn fail to reap the financial benefits of finding the best and affordable car insurance available to them.

If you want to get the best coverage for your buck, shopping smart for your car insurance is the way to do it. Also, car insurance is one of the top ways to chisel down your insurance budget if you know how to do it right.

Marriage and Your Insurance
Thinking about how marriage will affect insurance is not at the top of a couple’s list when the wedding vows are taking place, but with every life stage and change, insurance needs to be a priority. The basics such as name and address changes are not the only insurance evaluations that need to be considered before and after the marriage.

Steps to Filing Your Auto Insurance Claim
Five basic steps in filing your auto insurance claim: From deciding if you should file to expecting the call from the insurance company, learn what steps you need to take to file a successful auto insurance claim.

How to Buy an Insurance Friendly Vehicle
A customer's driving history is just one of many factors that are considered when determining an insurance rate. Characteristics of the vehicle being purchased plays a large role in insurance costs.
Protecting Yourself Against Automobile Insurance Fraud
Have you been a victim of auto insurance fraud? Find out here what to look for and a list common scams.
Do you have experience in the personal insurance industry?

Insider Insurance Tips
If you have trouble reading a full article on any insurance subject or if your insurance agent is not your best friend, these insurance school quick tips will get you enough insurance knowledge to make you look like you know what you are talking about

Adding to Your Homeowners Insurance: Need a Rider?
If you own certain expensive items, such as jewelry, Oriental rugs or home office equipment, more than likely you will need a rider on your homeowners insurance policy. A rider is like a mini-insurance policy added to your current home owners insurance policy and it will give added protection to certain items that may be excluded or have low limits on your home owners insurance policy.

Make Sure You Have Enough Home Owners Insurance
The main determining factor is whether your policy is a replacement cost value policy or an actual cash value policy. If you have an actual cash value policy, it will not. Actual cash value is also known as the fair market value. Fair market value is basically the amount that a a buyer would pay for your home.

Insurance Not Covering Toxic Mold in Homes
Homeowners in Broward County, FL, complained to their insurance commissioner that mold in their homes was making them sick and their insurance agents were refusing to pay. Although doctors agree some mold can be toxic, and if the problem spreads the homes can be inhabitable, insurance companies claim it is not covered.
Filing Your Insurance Claim After Being Forced Out of Your Home
When forced to evacuate your home due to a disaster the first concern for every family is to make sure everyone is safe. Worrying about property damage is second but it is important to think about how you will file your insurance claim if you don't have access to your home.

What is Title Insurance?
Purchasing your home is an important decision. But how does one know that the property they purchased has a clear title? Because unknown problems can be hidden in the history of a property's title, homeowners pay for title insurance.

Accidents can happen anytime so let's try some Home Accident Anytime-Cleaning Projects! Sign-up today and receive your first lesson: Home Accident Anytime Cleaning Project : Protect Yourself Against Carbon Monoxide and Fires
After the Disaster: Filing the Homeowners Insurance Claim
Taking the right steps, such as calling your agent immediately and accessing and temporarily repairing damage to your home can make filing your homeowners insurance claim a smoother process. Here are the 5 steps you should take when preparing and filing your homeowners insurance claim.

About Worker's Compensation Insurance
If you have ever had a job, you have probably heard of worker's compensation insurance. Maybe you have even received worker's compensation benefits from your employer. Most employees don't even think much about the worker's compensation insurance that their employer provides but that can be a big mistake for employees.
How Much Disability Insurance do You Need?
Now that you realize social security may not be enough to take care of you through a disability, it is time to determine how much of a disability benefit you would like to receive from your disability insurance. Your estimated spending, income, investments, social security disability benefits and your partner's income are all things that you need to factor in when determining what disability benefit you want from your disability insurance. Included is a sample disability benefit worksheet.

Choosing Disability Insurance
Disability insurance can play a crucial role in keeping you financially afloat if a disabling illness or injury strikes. But a survey by The Consumer Federation of America and The American Council of Life Insurers found that 82% of people do not have long-term disability insurance or believe their coverage to be inadequate.
Considering Disability Income Insurance
Can you believe that according to some estimates one out of every ten persons will become permanently disabled before age 65? If you became that “one” and you could not perform your current job, what options would you have? You may want to consider disability income insurance.
Should You Purchase Credit Card Insurance?
If you own a credit card you have probably been asked by the company if you would like to add credit insurance. Most are unfamiliar with this type of insurance and either decline it or accept it automatically without knowing if it is the right type of insurance for their needs. Credit insurance may be beneficial to some but just an unneeded cost for others depending on one's situation.

Steps to Take After a Car Accident

The Car Accident Insurance Claim Class Action Law Suit Vehicle Insurance Asbestos Claims Insurance Policy

Though car accidents are more prevalent in the winter months, what you need to do after an accident never changes. Obviously it is hard to think clearly after a car accident so it is important to know before you get into an accident what to do first and what questions may need answered. This checklist will help you know what to do after a car accident. It is best to review it now and then print it out and keep a copy with you in your car.

=Determine the Extent of Damage or Injuries
Try to stay calm. Panic can make others panic and the situation worse. There needs to be a calm person to determine the extent of damage and to determine if there are any injuries that need immediate medical attention.

=File a Car Accident Report with the Police
Even in a minor accident it is important to make sure there is a legal accident report. Do not leave the scene until the police file a full report.

=Discuss the Car Accident Only with the Police
With everyone all shook up it can be hard not to talk about what just happened, but that can also lead to you not thinking clearly and accurately about what happened. It is important to limit your discussion of the accident and not to admit any fault or liability. You should talk about the accident with the police and your insurance agent only.

=Get the Facts
This is the part most people know to do, but often forget to after the accident for one reason or another. It is important to get names, address, and phone numbers of everyone involved in the accident. A description of the car and license plate number can also be helpful, but make sure you also get their insurance company and the vehicle identification number of their car. Don't just assume the license plate number will do because most insurance companies only record the type of car and the vehicle identification number, not the license plate number.

=Call you Insurance Agent
Call your agent or insurance company's immediately, even at the scene with the police if possible. Sometimes the police officer can give your insurance company more accurate information rather than information you may not be recording properly because you are upset by the accident. This can save you a lot of time later waiting for your claim to be processed.

Retirement Strategies

OBVIOUSLY, DECIDING how much money you need for retirement is a highly personal calculation. It depends on any number of factors, from your current lifestyle to your general state of health to whether you plan to retire early. That's why we've designed this set of five interactive worksheets to let you tailor your estimate to your own circumstances.

Be forewarned:

These worksheets will take some time to complete. But when you're done, you'll have a dependable estimate of

1- How much annual retirement income you'll need.
2- How much you can count on from your pension and Social Security benefits.
3- What your total nest egg must be, and
4- How much you need to put away this year to begin to reach that goal.

If early retirement is one of your goals, the worksheets will help you calculate just how early you can retire ? and still live the lifestyle you're used to.

A Moving Target
What the worksheets won't tell you is what to save five years from now, or even next year. By then, any number of factors might have changed ? from the size of your salary to the rate of return on your investments. Moreover, as your income and lifestyle improve over the years, your expectations for retirement income will grow. What this means is that you should take the time to repeat this planning exercise every couple of years ? or every year as you near retirement.

One other consideration: When you're young, many of the projections the worksheets demand of you are almost impossible to make reliably. So, if you are in your 20s, 30s or even your early 40s you might want to just give these worksheets a quick look and then move right to Making the Most of Your 401(k) or Investing It, to start tailoring your investment program. As you edge into your 40s, however, knowing more precisely what you'll need becomes increasingly important for one simple reason: You don't want to get caught short when you still have time to do something about it. Happily, estimating future needs becomes easier the closer you get to retirement.

This information, including worksheets, is provided by an unaffiliated third party for general information and educational purposes only. It is not intended to be, and should not be construed as, legal or tax advice. While you should consider the legal and tax implications of any financial strategy, Prudential does not provide legal or tax advice. Prudential makes no warranties with regard to this information or results obtained by its use. Prudential disclaims any liability arising out of your use of, or reliance on, this information. Worksheet results are based on the information that you input, and you are solely responsible for the accuracy and appropriateness of the information and assumptions that you provide.

What Do Most Health Insurance Policies Cater For

Making a financial arrangement for when you may have you're sick that stops you from living a normal life or is life threatening is not the simplest thing in the world but critical illness insurance covers this very real contingency. Providing monetary peace of mind for your family by taking out critical illness protection, for a mere few bucks each week should something occur to you, does not to seem as important to most of us as having that extra, luxury cup of coffee each day during luncheon.

The most health insurance policies now cater for many of the more standard sicknesses and because figures show that there is a good chance you will suffer one of these at some stage in your life, it is a worthwhile plan to have. Recent studies have shown that one in five males will, unfortunately contract a life-threatening illness before they reach retirement age. That same study also shows that women are only slightly less likely with a one in six chance, to be impacted by a critical condition prior to retirement.

Specialists are of the opinion that the main reason for individuals failing to start a health program is an ignorance of the risks of being impacted by it. Protection of mortgage payments is listed as the number one reason why individuals decide to have critical illness cover cover. Today, critical illness security and life insurance can be linked directly with mortgage repayments.

More and more individuals are starting to employ the facilities provided by the Internet to study and purchase insurance plans, including critical illness protection. Regrettably, being a relatively new facility, there are new problems that occur as more companies start offering services over the Internet for the first time. The reason for this lies in the fact that most critical illness cover providers call for their applicants to undergo an independent medical exam prior to the program being issued in an effort to stop any possible fraudulent claims in the future. If you're in the awkward position of having to make a claim on your insurance , the last thing you want is callous hassle or apparent non-cooperation from your insurer.

The One thing to study though if decide to apply for a health policy is if you are a smoker, and that includes anyone who has smoked within the last twelve months, because you are viewed as a higher risk applicant. It is now thoroughly acknowledged that smoking is dangerous for you and as a consequence your monthly insurance installment will cost more. For the most part though, when you apply for any type of health insurance, the company will look at your age, health, workplace, environment, activities and so forth. A typical insurance will cover you if your medical prognoses are terminal or life-threatening, as well as cover you if you require certain surgery - the insurance will also] address your permanent job loss due to sickness. There can be no argument about the peace of mind that having a critical illness cover policy in place can bring to somebody who has a close family and monetary obligations.

Health Life Insurance is Important For your Family

Why?

Whether you deny it or not, health life insurance can really help protect your family. Although there are a lot of people who do not entertain the idea of death, it is still something that cannot be avoided. Unless you have discovered the fountain of youth, death is the ultimate threat to your loved ones.

The death does not just entail the loss of a loved one. In many cases, death haunts people because of the series of events that it triggers. For example, the death of the breadwinner in the family is more than enough reason to have larger than life problems. Would you want your family to experience this kind of situation? Get a health life insurance now.

The health life insurance in focus
A health life insurance is a kind of well, insurance, that covers a lot of things. Funeral costs are usually the major coverage of most health life insurance. In some cases, a health life insurance also provides people with the benefit of not worrying about hospital bills. There are also health life insurances that will provide your loved ones with certain amount of money after your death.

The different public and private institutions, health life insurances can be compared to social securities. People who have health life insurances are required to pay a minimum amount during a period of time. Once the insurance policy matures, the bearer of the health life insurance would be entitled to several benefits agreed in the policy.

The advantages of having a health life insurance
Having a health life insurance for your family will always provide you with a number of positive benefits. To give you an idea, here are just some of the things that you would enjoy for having a health life insurance:

=You’re insured!
A health life insurance would guarantee that you or your family will have the financial means to support and solve whatever life and health related problems will come along the way.

=No worrying about funeral expenses
eath may have its toll financially. As a matter of fact, funeral expenses can just aggravate the lost of the families left behind. Some sources say that funeral expenses costs an average of $10,000—an amount that not all families have. And since death is always unexpected, having a health life insurance that covers funeral expenses is like being prepared for the unknown.

=The money for those who were left behind
Some health life insurance also covers giving certain amounts of money to the beneficiaries of the insurance holder. Depending on the type of health insurance plan, the funds could be received in bulk or in scheduled releases. Having a health life insurance of this type will ensure that life would still go on for those who were left behind.

=No debts/bills to be paid
Since a health life insurance will cover all the expenses for the funeral and hospitalisation, families need not worry about paying bills or getting credits. This would mean that they would be free of worrying about the consequences of the death of their loved one.