Are you tired of renting a small-sized apartment? Keen on getting your very own flat or house? If you are, aside from having to ponder on where to get the furniture or what things to fill up your new house with, you need to ponder on getting a home insurance.
Before you even try to grasp on what a home insurance is, you need to be acquainted on the different terms associated with home insurance. It is sometimes known as homeowners insurance or hazard insurance. When it comes to real estate parlance it is known as HOI.
Now, you know the different terms associated with home insurance. It’s now time that you should be ready to know more about this type of insurance and why is it important to get one.
First thing’s first, this home insurance covers only private homes. The coverage includes but not limited to the following: home contents, loss that occur in one’s home, loss of homeowner’s personal possessions and loss of home use.
There are certain areas that need to buy an added insurance plan to cover up the loss incur by different disasters such as earthquakes, flood and even war. These three are excluded in an original home insurance policy. This, it requires to have an additional coverage. If you will get hold of home insurance policy, you must prepare yourself to read a very lengthy contract. Be sure to read the contract bit by bit and never leave any line unread. This is to ensure that you know very well the full coverage of the insurance and the different instances that your house will not be covered by the policy.
So, start shopping around for insurance policy right from different insurance companies to get a fair bit and cheap insurance quotation to make sure you get more out of your money. With the tight competition totally prevailing in the market, surely you will get a cheap bargain if you know where to get one for yourself.
Friday, December 11, 2009
Auto Insurance: Basic Facts
If you are planning to get your very own car next week, month or year you need to be fully equipped regarding some basic information when it comes to auto insurance.
Auto insurance is sometimes known as car insurance, motor insurance or vehicle insurance. So, if you come across with one out of these three terms it simply means auto insurance.
Why there is a need to get auto insurance? It is to give you protection against contingent loss incur during a traffic accident. So, when your car got wrecked out because you got caught in an accident like a branch of tree fell unto your window and the hood got damaged, then the insurance company will spend for the cost of repairing your car. However, not all the times that the insurance company will repair a car out of an accident, there is an exception to that. Most of times, if you get caught in an accident and you are driving under the influence of alcohol or drugs, the insurance company will likely deny your claim.
Auto insurance covers three different aspects:
1. liability – the cost of lost wages, treating injures as well as funeral expenses are covered
2. medical – your responsibility of paying the victim or other people involved in the accident for body injuries or the damage on one’s property is covered
3. property – the damage caused on your car or there is an incident of theft
The amount of insurance premium paid does vary based on gender, age and also the value of the car even. Say for example, males do drive longer miles compared to women, therefore they need to pay higher premium compared to their female counterparts. As to you teenagers who don’t have any record of driving will eventually get higher premium since there is higher risk of getting an accident. It is safely to note that when you have higher risk of engaging an accident due to your experience or inexperience, the auto insurance premium you need to pay is higher. Those who own motorcycles and sports car do pay higher auto insurance premiums compared to those people who own electric car and compact car.
An auto insurance policy usually has six months up to one year contract. So, if you are planning to get your own car be sure you are going to get auto insurance and be willing to pay higher premium if you own an expensive car or a motorcycle and if you are a male, too.
Auto insurance is sometimes known as car insurance, motor insurance or vehicle insurance. So, if you come across with one out of these three terms it simply means auto insurance.
Why there is a need to get auto insurance? It is to give you protection against contingent loss incur during a traffic accident. So, when your car got wrecked out because you got caught in an accident like a branch of tree fell unto your window and the hood got damaged, then the insurance company will spend for the cost of repairing your car. However, not all the times that the insurance company will repair a car out of an accident, there is an exception to that. Most of times, if you get caught in an accident and you are driving under the influence of alcohol or drugs, the insurance company will likely deny your claim.
Auto insurance covers three different aspects:
1. liability – the cost of lost wages, treating injures as well as funeral expenses are covered
2. medical – your responsibility of paying the victim or other people involved in the accident for body injuries or the damage on one’s property is covered
3. property – the damage caused on your car or there is an incident of theft
The amount of insurance premium paid does vary based on gender, age and also the value of the car even. Say for example, males do drive longer miles compared to women, therefore they need to pay higher premium compared to their female counterparts. As to you teenagers who don’t have any record of driving will eventually get higher premium since there is higher risk of getting an accident. It is safely to note that when you have higher risk of engaging an accident due to your experience or inexperience, the auto insurance premium you need to pay is higher. Those who own motorcycles and sports car do pay higher auto insurance premiums compared to those people who own electric car and compact car.
An auto insurance policy usually has six months up to one year contract. So, if you are planning to get your own car be sure you are going to get auto insurance and be willing to pay higher premium if you own an expensive car or a motorcycle and if you are a male, too.
Thursday, December 10, 2009
Insurance: What About It?
I know, you have been bombarded with tons and tons of spam emails everyday or even an agent approach you selling all sorts of insurance. But what is it really? Is it that important that it now become a necessity to get insurance for yourself or else you will end up busted? Well, well, well I am going to tell you my friend it is really important and you need to get one if you don’t want to end up in a financial turmoil in the near future.
Now, what is the meaning of insurance? It is a form of risk management wherein you will be shielded against the risk of getting a contingent loss. So, before you start wobbling your eyes around and trying to scratch your head, I am going to tell you something in order to give you a clear definition of what insurance is, it is like this.
For instance, you bought a new house right? We know for a fact that certain disasters such as hurricane and fire can ruin the entire structure of the house and eventually you end up with nothing. Now, do you think you have enough money to pull through after everything that you own are all gone? I don’t think so. This is where insurance comes in. You see, what insurance does is you will be reimbursed up to a certain amount as placed in the policy when you are faced with a peril or a risk of contingent loss. There is a caveat there; you need to pay for a premium. It can be in installment like monthly, quarterly or yearly. If you have the money, you can pay it right away. So, what you are doing is simply protecting yourself to further big loss.
For sure, you have heard people saying, “Oh the medical expenses were all covered by insurance” or “the house that was all burnt up by fire is covered by the insurance” and other related statements as those.
With the current economic crisis that we are in now, it is very important to go get an insurance to protect future and devastating loss that will happen like car accident, house getting caught by fire, and loss of a life (breadwinner). The principle behind this is somewhat related to “saving something for rainy days.”
Now, what is the meaning of insurance? It is a form of risk management wherein you will be shielded against the risk of getting a contingent loss. So, before you start wobbling your eyes around and trying to scratch your head, I am going to tell you something in order to give you a clear definition of what insurance is, it is like this.
For instance, you bought a new house right? We know for a fact that certain disasters such as hurricane and fire can ruin the entire structure of the house and eventually you end up with nothing. Now, do you think you have enough money to pull through after everything that you own are all gone? I don’t think so. This is where insurance comes in. You see, what insurance does is you will be reimbursed up to a certain amount as placed in the policy when you are faced with a peril or a risk of contingent loss. There is a caveat there; you need to pay for a premium. It can be in installment like monthly, quarterly or yearly. If you have the money, you can pay it right away. So, what you are doing is simply protecting yourself to further big loss.
For sure, you have heard people saying, “Oh the medical expenses were all covered by insurance” or “the house that was all burnt up by fire is covered by the insurance” and other related statements as those.
With the current economic crisis that we are in now, it is very important to go get an insurance to protect future and devastating loss that will happen like car accident, house getting caught by fire, and loss of a life (breadwinner). The principle behind this is somewhat related to “saving something for rainy days.”
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