Factors That Impact Your Price for Car Insurance

car insurance

 

 

 

Do you know what your car insurance premium is based on?  You may think that the price that you’re paying is based on a profit margin required by a large insurance company that’s remotely interested in you or your safety but just the opposite is true.  The amount of your premium is determined by using a formula that includes a number of factors from your individual information.  An insurance company evaluates how much of a risk you’ll be based on some very important criteria that you need to know about.  In order to keep your personal finances under control, you should plan for adequate cover to protect you, your assets, and your investment in a good car.

Age Means Experience

In almost every aspect of life, experience makes a big difference; insurance is no different.  Younger drivers have higher premiums than their older counterparts because of the experience factor; older drivers can make more reasonable and practical decisions quickly since they have a great deal of experience behind the wheel of a motorcar.  Once a driver reaches 25 years of age, they can expect the price that they pay for car insurance to decrease; they will have also obtained a lot of experience which enables them to act more responsibly in an accident.

Gender Makes a Difference

If you’re a male, you probably take more risks, express your aggression behind the wheel more often, and demonstrate more rule-breaking behaviour than females.  For these reasons, insurance cover for men is usually higher than for women; however, after the age of thirty rates become more comparable.  Men who are married pose less of a risk as well so that is another factor that can figure into your premium.

Education is an Indicator of Good Driving

It’s also interesting to note that your level of education can play an important role in determining your rate of insurance.  If you’re well-educated and employed gainfully, you show a willingness to work diligently to reach a goal; this is indicative of maturity and can impact the rate of your car insurance as well.  Educated, employed individuals show higher levels of responsibility than drivers who have low incomes and are less-educated.

Your History Follows You

If you have a lot of speeding tickets or have been involved in a multitude of accidents it goes without saying that your premiums are going to be higher than they would otherwise be.  If you’ve caused accidents in the past, your insurance company believes that you have a higher risk than other drivers of causing them in the future so your rates will be higher.  One of the ways that you can determine what your cost for car insurance would be is to use the Santam car calculator to determine the worth of your vehicle and the amount of insurance that you would need to adequately insure it.  This simple step can help you to budget the right amount for car insurance so that you’ll be protected no matter what your age or station in life.

There are many factors that impact your cost of car insurance and by controlling the ones that you can, you’ll have lower premiums that fit your budget easily.

 

 

 

 

How to look for a cheap Auto Insurance

auto insurance

Auto insurance, is basically an insurance policy, purchased by vehicle owners to mitigate costs associated with getting into an auto accident, so that instead of paying out of their pocket for auto accidents, car owners pays annual premiums to a company and the company then pays most- if not all, {depending of the type of policy bought} the cost of associated with the accident. All drivers who have a car that they drive need to have necessary insurance policy. Having the right policy means, should you have an accident or your car gets damaged you will be covered financially for repairs associated with the car accident. However, due to the present worldwide economic downturn, many of us are now looking for ways to save money on everything that we do, inclusive of car insurance purchase. Auto insurance is few of the important things that people always try to cut on during these hard time, but you may need to know that this is the last you should do. Auto insurance is very important. So, do not toy or joke with it. I mean never scrimp on vehicle insurance. If you are looking of means of getting a cheap Auto insurance, there are certain steps you can take.

Important Tips; How to Look For a Cheap Auto Insurance;

This is the most, important aspect of having your own car, either for commercial or personal purpose. Though, conventionally. There are two different ways of buying car insurance; this is Online and Offline. However unfortunately, many people have the believe that online purchase is better off, compare to physical, offline auto insurance purchase. Of course, it is true, that internet has bring comfort to the way we do many things, including auto insurance purchase, but it is not an awkward moment to realize that, that there is practically, no difference between offline and internet auto insurance purchase, except for the for access to reviews, as well as the comfort and the easy in purchase of online platform. Whether you are making your purchase from online platform or through physical agents, you are still going to get the same rights and besides, these two methods involves the same filling of claims, because claims depends entirely on the insurance company involved and not how or where the insurance policy was purchased. However, the comfort and the ease in purchase have given online purchase a edge over the traditional ways. In this case, online platform is the best place to get your car insurance with ease.

How to Secure The Right Policy Online.

1; Make Necessary Inquires; After verification of your past driving records, the next thing to do, is to inquire at the office of the local to find out how much coverage that is required to be carried by you in-[accordance with the rules and guides of your state’s department of insurance} to determine which types of coverage that will be required of you. This requires balancing how much you can afford to pay with how much you can afford to lose.

2; Different Quotes Request; Try to request quotes from as many as possible car insurance companies online, evaluate them and pick the best one. Once you have narrowed down your choices to a manageable list, you will have to get into the specifics of your very own circumstances. If your particular situation distinguishes you from most people, for example, if you are not a smoker, do not collect antique cars, or have had trouble getting insurance coverage before; there may be some companies that will have an exclusive offer for you.

3; Consider Buying Total Car Insurance Coverage. It is of extreme importance for all vehicle owners to always consider the option of purchasing a complete car insurance coverage for all their vehicles, as this will be of great help in so many ways. When you want to purchase auto insurance policy and you ended up buying the state minimum liability requirement, then you are likely to leave yourself open to financial loss. In case of accident, the insurance company will only pay you based on the policy limit of your car insurance coverage, which will not be at your best interest, because if the accident cost more money than what you are insured, then you will be left with no option, than to find your way out of the predicament, by paying the difference out of your personal pocket.

Author bio: Catherine tressa is blogger writes on various topics like auto, technology & travel. She also works for sky contact guide as a customer support executive and provides relevant information on digital satellite TV in U.K and Ireland.

 

5 Tips for First Time Life Insurance Buyers

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Although none of us really like to think about topics such as sickness or death, the reality is that they are a fact of life and when you have a family of your own, it’s important that you take all of the necessary steps to insure that they will be well taken care of once you are gone; a part of this would include purchasing a life insurance policy.

If you have never bought this kind of coverage before, we can understand how it might initially seem like a bit of an overwhelming experience. That’s why we wanted to take out a moment to provide you with some essential tips for how you can purchase the kind of coverage that you can feel confident about below:

Do your research. If you’ve ever spoken with an insurance agent before, you probably already know that it can sometimes get a bit confusing to discuss different kinds of insurance terms like “dividend”, “convertible terms” and “substandard risks”. You definitely don’t want to wait until you’re speaking with an insurance agent before getting an understanding of what these words mean. Our advice? Go online and research life insurance terminology. One website that has many definitions is Intelliquote. Just go to the site and put “life insurance terms” in the search field.

Think about how much coverage you need. In order to find the best kind of insurance company with the most affordable rates, you need to determine how much coverage you will need. In order to do this, you will need to factor in things like your lifestyle, the future plans that you have and what expenses you would like to cover for your children. According to many insurance experts, one of the easiest ways to come up with an estimate is to take your annual salary and multiply it by eight. That should take care of most of the things that you want your life insurance policy to cover.

Speak with a financial advisor. Once you have a pretty good idea of how much coverage you want, before speaking with an insurance company, we recommend consulting with a financial advisor. They are professionally trained in how to find the right kind of policy that will cost you the least amount of money while still providing you with the greatest amount of coverage.

Decide between whole and term life insurance. There are two types of life insurance that you can buy: whole and term. While whole life insurance offers more comprehensive coverage with a cash value attached to it, term life insurance is far more affordable and also has flexible terms. You definitely need to spend some time thinking about which one will be best for you.

Look at several different companies. So that you can make sure you are buying a quality policy, it’s a good idea that you also check out several different companies that offer life insurance. You can look at term life insurance quotes at SelectQuote. You can go to your favorite search engine and put “life insurance companies” in the search field too. Just make sure that before making a final decision that you check out between 3-5 different companies. Currently some of the best ones on the market include American General, All State and John Hancock. After going to their websites and then speaking with a couple of their insurance agents directly, you should be able to narrow down which life insurance policy will be best for you and your family. Long-term.

 

How your Occupation Impacts your Car Insurance Rates

car insurance rates

Have you ever used an insurance comparison tool like Go Compare or Moneysupermarket.com, only to be baffled by the vast differences in rates? Insurance companies take a wide range of factors into account when they calculate their rates. When it comes to auto insurance, this includes the type of car you drive, your driving habits, and your driving record. What many consumers don’t think about when they are filling out an insurance application, however, is the impact of job title. Each insurance provider has a specific formula for calculating risk, and your job comes into play in this equation. Simply rewording your occupation can potentially change your premium. It’s a good idea to take a closer look at how this works.

Risk behind the Wheel

Some jobs will lead to higher insurance rates because they are associated with a risky lifestyle. This aspect is known as “moral hazard” and is why a journalist would be charged a higher rate than a school teacher, because they are more likely to work odd hours or engage in risky behaviour to get to the bottom of a story. Students or positions typically filled by young people will incur higher rates, due to the assumption that young people are more reckless than older drivers. Insurers may also calculate “risk of association,” which applies to those who might work with famous people who would require a larger pay out. Those employed in the arts, sports, or entertainment industries fall under this category.

Working Hours

Another factor taken into consideration is the type of hours that you work. An administrative assistant who works a regular 9-5 job is considered to be a lower risk than a bartender who works overnight areas, even if they drive the same sensible new Opel Astra. The risk of crime and theft is higher overnight, leading to the higher premium. For example, casino workers have some of the highest premiums due to the risk of their car being stolen or vandalised by someone who has lost money that evening. Workers like salesmen or builders will also have high premiums, because they use their car extensively for work and tend to travel large distances.

Choosing a Job Title

Although falsifying information on your insurance application can lead to serious penalties, there are often several potential titles for what is essentially the same occupation. For example, a journalist could choose to write down “newspaper reporter” or “correspondent,” which will lead to different rates. Similarly, a “landlord” would pay less than a “pub owner.” It’s worth taking a few minutes to use comparison tools to see how these different occupations change your premiums before signing up for anything.

No matter what type of car you drive, you can potentially lower your rates by taking these risk factors into consideration. Naturally, choosing a flashy Jaguar at carsales.com.au will lead to higher premiums than a practical Ford Focus, but by playing around with your job title and other variables could save a bit of money.

How to Save Without Lowering Your Home Owner’s Coverage

home insurance

You pay a lot for house insurance – maybe too much. Are you really getting the best deal possible? You can’t just ditch your coverage. At the same time, those premium bills are getting to be quite a burden. You’re stuck between a rock and a hard place. Here’s how to get some breathing room without sacrificing coverage.

Shop Around

You don’t have to stick it out with your current insurer. In fact, insurance companies tend to go in cycles with their pricing. Some companies have a long track record of hiking up premiums over time to reflect poor claims history of not just you, but everyone else that’s covered by the insurer.

Shopping around every year will give you a good lay of the land, so to speak. It also gets you more familiar with the marketplace. You can spot house insurance trends in premium pricing, and keep your own insurer on its toes. The second that you find a cheaper rate, you can always cut and run. If you’ve consolidated all of your coverages, the insurer loses everything (if you move all of your business to the new company).

Install a Security System

Not filing a claim is one of the best ways to keep your premiums low. Insurance companies often encourage homeowners to install monitored security systems as a compliment to the usual stuff. You know – locks and whatnot. An active security system ties into a security company as well as the local police, fire, and emergency services.

Insurers will even go so far as to offer a discount for the alarm system because you’re less likely to be burglarized. If there’s a fire, there’s less chance it will burn to the ground, all things being equal, and emergency response teams can be quickly dispatched in the event you need them – all good things from the perspective of an insurer who wants to minimize the risk of insuring you.

Raise Your Deductible

This is an old, but effective, way to hold down rising insurance premiums. By raising your deductible, you can cut the cost of the premium by 20, 30, even 40 percent depending on the coverages you have and your current deductible.

There is one caveat here though: while raising your deductible does lower the premium, it also increases your liability. If you’re going to do this, do it slowly and in stages. Raise up the deductible to, say, $500, and put away $500 in your savings. Then, bump it up a little higher – increase your savings to match the new deductible. That way, you’re never caught out in the rain when you need that money.

Review Your Claims History

A Comprehensive Loss Underwriting Exchange (C.L.U.E.) can tell you pretty much everything you need to know about claims on your policy. These reports are generated by LexisNexus, and are invaluable when buying a new home (though they can also tell you a lot about past claims you’ve made and where you might want to focus your remodeling – to prevent future claims of the same type listed in your report).

The reports cost about $20. If you buy one, and you see numerous claims against the house, it’s a red flag. For example, a history of water damage can increase your premium about 300 percent. Sometimes more. A little research can go a long way and prevent you from buying a money pit.

Adam Becker writes about home owner’s tips. His articles predominantly appear on home owner blogs.

 

The Easiest Ways To Get Cheap Auto Insurance

Cheap Auto Insurance

Auto insurance is a big part of total costs of car ownership. This article provides a list of the most common ways to get cheap auto insurance.

Every car owner knows that auto insurance is an inevitable part of the car ownership experience. It’s not the favorite part, though, as it can cost more than $1,500 a year. But, if you want to be able to use your car on public roads, you have to insure it. That’s why a lot of people are trying to find cheap auto insurance, but not everyone knows how to get it. There are many factors that affect your insurance premiums, including vehicle type, age and model, driver record, and credit rating. You have to take all these things into consideration if you want to find cheap auto insurance.

Vehicle Type

Some types of cars are cheaper to insure than others. In general, small, compact cars are pretty cheap to insure. Premiums for minivans are not too high, either. This is because these vehicles are not too fast, and the risk of accidents with them is pretty low. That’s why insurance for sports cars is very expensive. People who own sports cars tend to drive them pretty fast, and the risk of them getting into car accidents is high. The purchase price of vehicles plays an important role, as well. The higher the purchase price, the higher the insurance premiums, which is understandable, since repair costs for those vehicles are high, and spare parts are very expensive, too.

Comparing Quotes

This is something that every car owner should do, no matter what type of car they have. You should go online and visit websites of various insurance companies, and get free online quotes. You can see how much you would have to pay to insure a certain type of car, and compare rates from different companies, and see which company offers the most affordable rates.

Try To Keep a Clean Driver Record

In addition to safety reasons, you should try to avoid making traffic violations in order to get cheap auto insurance. Every insurance company checks your driver record, and if you have a lot of speeding or parking tickets, or you’ve been involved in a lot of accidents, you won’t be able to get affordable insurance rates. Insurance companies will consider you a high-risk driver, and they will offer some pretty high rates to you. Also, if you are convicted for distracted driving, your insurance rates will be increased. That’s why you should always try to avoid using a cell phone, eating, or drinking while driving, which are the most common causes of distracted driving.

Author bio:

Jordan Perch is an automotive fanatic and “safe driving” specialist. He is an author of many how-to articles related to safe driving, green technologies, auto insurance etc.

 

Life Insurance – Types and Benefits

life insurance

We all love our lives and also those who are very close to us. We always try to live our life perfectly and try to avoid any type of worries or problems. But troubles come to us without informing and we have to face such unexpected circumstances. There are many families in this world who have faced severe troubles like the pain of losing someone very closer, inability to earn due to some accidental disability, illness and much more.

The problems may vary but the consequences are somewhat similar. The majority of families face financial crises or lack of assets particularly in the form of money while or after facing such mental crisis. They have to spend unexpected money suddenly without prior awareness. What if we plan to save some money for our better future and also to secure our families? Yes, saving really proves to be useful and especially when the saving is done with the help of life insurance policies.

Today, it has become a trend which is feasible to buy life insurance policies. By opting for such policies you save money for unforeseen contingencies. The money you save today will prove useful when you are alive and also after you for your family. You can leave money to your loved ones even after you if they are totally dependent on you or might want financial support from you in future.

There are many life insurance companies available today both online and offline. Also, there are many websites which offer you different policy schemes and comparison between many companies under one platform. You will come across different policies and schemes which are available according to age group, requirement, budget, term rates etc.

Different Types Of Policies

  • Term Insurance Policies – These policies are made to cover 100 percent risk by protecting a person fully insured for a specific amount of time.
  • Whole Life Policies – These types of policies are much better for a person as it covers the whole life till the death. It is valid throughout the life of a person.
  • Endowment Policies – It is a very common form of policies as it combines financial savings with risk cover.
  • Money Back Policies – It is also very popular and favorable because it gives payment at short intervals of time.
  • Pension – These are made to pensioners as from this policy person gets a pension at regular intervals of time.

Term Insurance Advantages

  1. It is affordable to many people and it is very easy to understand.
  2. You can choose the length of the term such as 10, 20 or 30 years.
  3. It is the best way of money investment.
  4. It would be beneficial for short term needs.

It is a general tip for you before buying a policy that first search your relevant policy and choose it according to time duration so that it covers all the risks. Now, move fast to buy your term life insurance and secure your life.

Guide on How to Choose the Best Car Insurance

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If you are shopping around for insurance for your first car or you are just dissatisfied by your current service provider; you might come to realize that picking a service provider is not as easy as it appears. You probably value your car a lot and most insurers will take full advantage of this fact. The insurers normally put into consideration a lot of factors such as the type of car, your driving history, age, area of residence and other trivial factors in determining how much you will pay. It is never advisable to cheap out on your insurance, but if you are smart you will get an insurer who will give you the best service along with the cheapest rates.

The 4 most important factors to consider when picking an insurance provider are:

  1. The company’s track record

You should start your search by finding the most highly recommended insurance companies with the best history and very few cases of customer mistreatment. Get this information from the following sources to ensure you have a comprehensive report

From family and friends

Independent insurance agents

Your country’s insurance department

Customer satisfaction surveys (can be found online)

Financial strength ratings (can be found online)

Use this information to pick at least five potential insurance providers. These companies should have an excellent reputation and ratings.

  1. All companies quotes and information

You should know the type of coverage you need plus what the law requires before getting a quote. Visit all these companies’ branches personally, but to make it easier, get the quotes online. Some insurers will give you a discount for doing this online. Ensure you get a comprehensive quote plus all other relevant information such as payment methods and all other charges. Pick at least two insurers from your list who offer the cheapest rates.

  1. Convenience fees and hidden charges

All insurance companies will charge you extra if you don’t want to make upfront payments. The convenience fees charged are for those who prefer to make their payments in periodic installments e.g. monthly.  Hidden charges are often found in most contractual agreements. Take your time to do some digging and read the fine print. Some hidden charges include the marital status (yes, you will pay extra if you are single or divorced), credit rating, the car you drive and many others depending on the company. These payments are usually very high and it is preferable to pick a company that has the lowest convenience fees and very few hidden charges.

  1. The discounts offered

All insurance companies offer discounts to their customers depending on a number of reasons such as safety features in your car, your mileage, being a member of organization such as AAA. This is the best way of getting the best out of your insurance. Some insurers go as far as offering you discounts for driving an eco-car, getting your quote online, combined coverage and upfront payments. From personal experience, for the best discounts visit Axa Ireland online. The best insurer in this case has to have the most relevant discounts.

Now you have your most preferred insurance company. A good car insurance provider should have a good track record and the cheapest quotes. In addition to this the company should have very low convenience fees, no hidden fees and offer great discounts.

 

Could a candle burn down your dream house?

insurance

Burning candles is a cheap way to scent a room and help you relax. After a hard and stressful day at work, they can be just what you need. Yet as they become more and more popular for this use, there has been an increase in candle related house fires.

In the year 2000 alone, there were more than 2000 fires caused by candles. This resulted in 10 people dying and over 900 people getting injured, say the Fire Service. And according to the government’s latest Fire Safety leaflet, there are now five fires a day caused by candles. Simple arithmetic tells us the yearly figure has barely gone down since 2000.

House fires caused by candles are more common in festive periods, especially Christmas. It isn’t just that there are more candles being burned, it’s that there is an increased abundance of fairy lights, tinsel, plastics other highly flammable decorations around your home. Candles can initiate a fire but whatever is surrounding it can easily increase it tenfold.

Although statistics tell us that the majority of candle fires don’t result in serious injury to your person, any fire can do serious and extensive damage to your home.

Imagine the financial burden of rebuilding your house because you didn’t have home insurance. It hardly bears to think about. Without household insurance, what you once worked towards for most of your life could take another lifetime to restore. The danger of candles is seriously understated. The best advice is to not take any risks and get yourself a home insurance quote if you aren’t doing so already.

Even so, there are some basic precautions you can take to try and minimise the fire risk caused by candles. Before you light any candle, you should make sure you place it well away from any fabrics or highly flammable materials. Put candles in a place that are out of reach to both children and pets. Don’t put them under shelves. Even without a flame, the heat can burn the surface of the shelf.

Once you have found a place for your candle, ensure that it is seated securely in a holder that is weighted evenly and cannot topple over. Keep your candles a good distance apart from each other. At least four inches is the recommended distance. Once your candle is lit, don’t move it without distinguishing the flame. If a candle falls onto flammable fabric you have a house fire on your hands.

Still, despite these precautions, you can only ever minimise the risk of a house fire caused by candles. And that should be your point of reference when thinking about home insurance. Most people are unwilling to accept these risks. They get home insurance and are happy with their policies as a result.

Only last week Manchester City midfielder Yaya Toure was in the news when his £1 million home in Wilmslow, Chesire went up in flames. The cause? Aromatherapy candles. Don’t underestimate the danger of candles!

 

Protecting your Money: The Most Popular Methods of Insurance

insurance

While many may consider the procurement of insurance to be a costly and often unnecessary exercise, it is something that provides a great deal of financial protection. In essence, purchasing insurance is the most effective way of securing a specific investment, which may subsequently prevent you from losing significant sums of money. While there may be many instances where you are not required to make a claim against an existing policy, insurance is something that you only tend to miss when you genuinely need it.

Evaluating the Top 3 Types of Insurance

With this in mind, it is worth addressing the nature of insurance and which types of coverage are the most popular among consumers. Consider the following options: -

Mobile Phone Insurance

The expansion of the smartphone market and billion pound mobile app industry has been pronounced in recent times, and this has triggered a further increase in the percentage of citizens who own mobile handsets. As a result, mobile phone insurance has become increasingly sought after, as consumers look to protect their device against theft, fire vandalism and accidental damage. Another key reason for the rising popularity of mobile coverage is the diverse capacity of contemporary smartphones, as consumers now rely on these devices to conduct a host of everyday personal and business tasks. Given that each individual policy is different, it is worth considering the finer details of any proposed coverage before you make an informed decision.

Pet Insurance

The number of pet insurance policies has risen steadily since the early 1980’s, as customers have strived to take greater care of their pets. In some instances owners may also be protecting their investment, especially if they have purchased pedigree dogs for the purpose of breeding. The majority of policies in the UK are in fact taken out to provide coverage for cats and dogs, and as a general rule they have the potential to save citizens the most significant amount of money. Although most pet policies are structured in the same way as human alternatives, the cost of veterinary care and potential treatments can exceed thousands of pounds in certain instances. With no national or freely accessible health care providers for pets, pet lovers must take out reputable insurance in order to cope with the costs of ownership.

Moving Insurance

According to national and global statistics, the housing market is beginning to experience a significant boom. This means that a growing number of home-owners will look to sell their property and purchase a new one in the months ahead, with first time buyers particularly keen to make their move before the value of housing sky rockets. This is likely to trigger an increase in the number of claims for moving insurance, which protects home-owners whose property is damaged while in-transit. It is unappreciated and often misunderstood concept, but it ensures that any items that are broken when handled by service providers can be compensated in line with an individual policy.

The Bottom Line

While some types of insurance are popularised by trends and innovation, others have remained in high demand for generations. Regardless of their origin, however, these policies allow claimants to protect their numerous financial investments and safeguard their long term financial future. After all, there is more to saving than simply identifying the best bank to bank with an opening an account, as the key to true financial success lies with highlighting purchases that can deliver sizable returns and protect your underlying capital.