Insurance: October 2007

Sunday, October 21, 2007

Antique Car Insurance Advice

How To Obtain Car Insurance For An Antique Car

Many people choose to restore and show antique cars as a hobby. But even these cars need some type of insurance to protect against accidental damage. This is why many people search for car insurance for an antique car. There are many companies available that provide car insurance for an antique car, with many companies specializing in antique car insurance. By having a wide variety of car insurance companies to choose from, the consumer has the ability to choose the right type of insurance for their needs.

Car Insurance Companies

Many commercial car insurance companies can also provide car insurance for an antique car. Also called collector car insurance, these policies are tailored to the car you are attempting to insure. A car insurance representative will take all of your information and discuss different policy options with you to ensure that you are obtaining the coverage that you need. They will also help you decide which types of coverage are within your target budget and which deductible and limit levels you will need.

Purchasing car insurance for an antique car through a commercial car insurance company will give the policy holder peace of mind, knowing that the company that they have chosen to do business with is an established company with a good reputation. The policy hold may also have their everyday use cars insured with the same company. The security of having an established company provide car insurance for an antique car is well worth the premium that they will charge you to provide insurance for your antique car.

Independent Insurance Companies

There are also many independent insurance companies available to purchase car insurance for an antique car. These companies tend to specialize in antique car insurance and will not insure any other types of cars. Some of these independent insurance companies will only insure a particular type of antique car, so if the car you are attempting to insure is a rare one, if may be difficult to find an insurance provider that will insure it. When choosing an independent insurance company to provide car insurance for an antique car, be sure that the company is a reputable one. You do not want to find that after months of paying the insurance premiums that the company will not or is unable to pay your insurance claim.

Finding car insurance for an antique car can be a lengthy and frustrating process, but the benefits of having insurance for the car far outweighs the initial hassle of finding the insurance. Many antique cars are worth many thousands of dollars and that is a big loss if the car is ever stolen or totaled. Having car insurance for an antique car may be the most valuable insurance that you ever purchase.

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Thursday, October 18, 2007

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Monday, October 15, 2007

Personal Medical Insurance

When it comes to personal medical insurance there are a number of different plans a person can consider. But where one plan may be suitable for one person it may not actually be suitable for another. The main benefits to be gained from personal medical insurance over that of group medical insurance is that you can choose the level of coverage you have. Through a personal one a person can select a plan that meets their own particular health requirements and which also suits their budget as well.

Today you have a choice when it comes to taking out any kind of personal medical insurance but the main ones are as follows:-

1. The comprehensive plan/policy which allows not only coverage for you but your entire family over a long period of time.

2. There are much shorter term plans/policies available which a person can pay into when they are say between jobs.

3. Or there are supplemental plans/policies which will cover any gaps that a person may find in the medical policy that they have currently or that provided by their employer.

However it is important to note that such medical insurance plans can turn out to be some what more expensive than a group plan as you are not having to share the costs with others. Below we provide some tips which should hopefully help you to get the best rate possible when you are looking to take out personal medical insurance cover.

Tip 1 – Enquire of the insurance provider who arranges your car and home insurance if they also do medical as well. If they do you may well find that they offer you a discount on your coverage as you are already a customer of theirs.

Tip 2 - Unfortunately if you are smoker or are overweight then getting medical insurance cover can prove to be quite expensive. If you can why not try and stop smoking or lose weight not only will this help to reduce how much you pay for your insurance cover but it will also make you feel better and improve your health overall.

Tip 3 – Many personal medical insurance plans require you to pay towards certain parts of your medical bills. If you can afford to then set the deductibles within the policy as high as you possibly can. The more you pay towards certain parts of the medical treatments or tests you need in the future the much lower the rate of your insurance cover will be.

If you keep the above mentioned tips in mind as well as spend a little time comparing the various different types of personal medical insurance cover now available, you are likely to find one that not only meets your particular requirements but will suit your budget as well.

Insuring Your Real Estate Investment Business

As part of the terms of a mortgage loan, most lenders require borrowers to carry property insurance. But simply meeting the requirements of your lenders does not necessarily mean that you are adequately insured. To be sure that your real estate investment business is properly covered, understand what your risks are, how much liability you are able to accept, and what types of policies are available.

The basic types of business insurance include:

- General liability and property coverage. Liability insurance protects you if someone is injured while on your property. The insurer not only pays the damages, but also funds and handles your legal defense. Property insurance covers your physical assets—building, equipment, furnishings you own, fixtures, etc. In most cases, your property insurance will not cover the tenant-owned contents of a rental unit; your lease should clearly state that tenants are responsible for insuring their own belongings.

- Umbrella policy. Umbrella policies provide additional liability coverage after the limits of your underlying policy are reached. For example, if someone was injured on your property and required $300,000 in medical treatment but the liability limit of your underlying policy is $250,000, your umbrella policy will pay the additional $50,000 (provided, of course, the limit of your umbrella policy is at least that amount).

- Automobile. If your company owns vehicles or if you use your personal car for business purposes, you need appropriate coverage. Such insurance typically includes bodily injury liability for injuries you or another authorized driver cause someone else; medical coverage for treatment of injuries to the driver and passengers in your vehicle; property damage liability; collision (damage to your car from a crash); comprehensive (damage to your car not resulting from a crash); and uninsured motorists coverage. Be sure your vehicle insurance complies with the laws of your state and offers you sufficient coverage to protect you financially—which means you may want higher limits than the law requires.

- Life. Various types of life insurance can be designed to protect your company, investments, and family in the event of your death. Life insurance is often part of buy/sell agreements in partnerships, where the insurance is used to buy out the interest of the deceased.

- Workers compensation. If you have three or more employees, you are probably required by law to provide workers compensation insurance. Laws regarding this coverage vary by state; check with your insurance agent and state insurance department to find out exactly what you need and how it is purchased.

- Business interruption. This coverage is designed to replace lost income, pay ongoing expenses, and cover the costs of setting up in a temporary facility if necessary when a business is unable to operate due to a covered peril (such as fire, storm damage, vandalism, etc.). If you have rental units that cannot be occupied due to a covered peril, business interruption insurance may replace the lost rent revenue.

- Destroyed or damaged records. If your business records are destroyed or damaged by a covered peril, this insurance will compensate for the inability to collect income and the cost of reproducing the records.

Beyond the traditional types of insurance are a variety of specialty policies offering coverage you may or may not need, such as flood, earthquake, and terrorism insurance. If you work from home, be sure your business equipment is covered and that you are protected for business-related liability. Most homeowner policies provide only nominal coverage for business equipment and activities, so check with your agent to determine if you need a separate business policy or if you can add an endorsement to your homeowners policy.

Managing Your Insurance As much as you’d probably like to, insurance isn’t something you can take care of once and then forget about. In addition to making sure you have coverage each time you buy or sell a piece of real estate, you should do an annual review of your needs, your coverage, and what new products are available that might work for you. Keep records of all your assets in case you need them to document a claim. If you make changes to existing policies, follow up to make sure the necessary paperwork was completed properly. It may be your agent’s job to do the paperwork, but it’s your responsibility to make sure you have the right coverage in place.

Keep in mind that insurance companies often structure their policies differently, so if you change any of your insurers, study the new policy carefully to be sure you really have the coverage you think you have. Don’t buy a policy based on rates alone. Be sure the coverage is what you truly need and the company is financially sound with a reputation for good customer service.

Remember that insurance is essentially a gamble—you’re betting that you’ll need it and the insurer is betting that you won’t. Be sure that you can still come out a winner whether you win or lose the bet.

Protect Against The Unknown With Unemployment Insurance

While we can’t predict what might happen in the future we can at least insure against it and when it comes to finances then unemployment insurance can be a great asset to have in case you should find yourself without an income due to coming out of work through accident, sickness or unemployment.

Unemployment insurance consists of policies that will give you an income so that you can carry on paying your essential outgoings such as your mortgage, loan repayments and day to day living expenses. The family of payment protection insurance policies consist of loan payment protection, mortgage payment protection and income protection insurance. All unemployment insurance policies have exclusions in them which could mean that they wouldn’t be suitable for your circumstances and these are found within the small print. The most usual exclusions which would prevent you from claiming are if you are retired, self-employed, suffer from an illness at the time of applying for the policy or if you are only in part time employment.

The cost of unemployment insurance premiums does vary but if you go with a specialist in payment protection insurance then you will get the premiums much cheaper along with the key facts and information you need to make sure that the product is right for your circumstances.

If you want to protect your mortgage repayments then mortgage payment protection could give you an income after you have been out of work for a pre-defined period of time which can vary between 31 days and 90 days of being out of work continually. The cover would then continue to provide you with a tax free income for up to 12 months and with some providers for up to 24 months which means you have peace of mind and security while you recover and get back to work.

If you want to carry on paying your loan repayments then loan payment protection gives the same income to pay your loan repayments and make sure you don’t get into debt and income protection will give you the money to carry on paying your essential outgoings.

Unemployment insurance can be a lifeline and it can work if you ensure that you would be eligible to claim.

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