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Taking out an insurance policy is an act of trust and you may be worried that when the time to claim comes around, your claim might be disputed, delayed or even rejected. Insurance companies are capitalist enterprises based on the need for profits, so expecting them to be charitable and pay out all claims is a little naive. If an insurance company thinks it has a legitimate reason to turn down a claim it will definitely do so. Sometime these insurers make mistakes and more often than not these mistakes are made with car and motorcycle accident claims. Luckily for you, there are laws in place in most countries that prevent insurance companies from breaking the rules.

Generally, laws regarding claims will include the following regulations:

• Your claim must be acknowledged within a certain amount of time, usually fifteen days, but this varies.
• Insurance companies have to investigate your claim properly.
• Make a full-faith attempt to process your claim in a timely and efficient manner while still striving towards an equitable settlement of your claim.
• Insurers may not refuse a claim without a valid reason.

These regulations will vary from country to country and state to state, but generally the implications will be the same or very similar. If you feel that your insurance company is not fulfilling its obligation according to the applicable laws, you will usually have a board of some kind to report them to. These boards may find that the company in question has numerous complaints against them for the same or similar offences and as such revoke their license. In some countries these types of organizations are called ‘ombudsman’.

Sometimes insurance companies reject motor insurance claims due to valid reasons, but the circumstances around the claim nullify these reasons. An example of this would be an insurer rejecting a claim for a motor vehicle accident based on the poor condition of the insured vehicle’s tires. This is a valid reason, but if the vehicle in question was stationary at the time of the accident then it is no longer applicable.

Depending on where you reside, you could even sue the company if you feel that they are in breach of their insurance contract. Before you do so, however, there are some things you should seriously consider.

When you buy the policy, always complete the application completely and honestly. If you lie, this would be reason enough for your insurer to legally deny a claim. Make notes, while your broker or agent explains the terms and conditions of your policy and make sure you completely understand them. If you do not understand your policy and take your insurer to court due to this misunderstanding, your case will probably be thrown out and you may even have to pay for all the legal expenses.

When you need to claim, go over your policy to refresh your memory regarding what you are covered for. Making notes when you buy your policy could come in handy at this point in time as you will be able to refer to them in order to understand everything correctly. Be honest about your claim and do not exaggerate your claim. Keep all receipts and proof of ownership. Most importantly, keep a record of every communication that you have with your insurer.

Unfortunately there are so many unknown factors that could slow down your insurance claim. However, as long as you are truthful and use common you will get through the unpleasantness of claiming and be successfully reimbursed for your losses.

About Author:

Stuart Broad has extensive experience in the insurance companies industry. He is very passionate about following the developments at insurers like bike and Car Insurance Quotes.

By: Stuart Broad

As the old saying goes ‘prevention is better than cure’. There are several things you can do to deter would be car thieves from making off with your beloved vehicle. Using common sense is definitely your first line of defense. Lock your doors and do not leave your keys in the ignition or in the vehicle. This will already deter opportunistic thieves. Having a car alarm or some other alert system in your vehicle may also chase off thieves when they try breaking in. Most cars with central locking come with an alarm installed. Installing an immobilizing device has proven extremely effective in preventing theft and in recovering stolen or carjacked vehicles. And finally, a tracking device will actually lower your insurance premium due to the increased chances of finding a stolen car with this type of device installed. In fact, some insurance companies insist on their clients installing a tracking device before they will cover them. This devices and safety tips will decrease the probability of your car getting stolen in the first place and could assist in getting your car back in the event of a theft.

Working on the assumption that you already have taken out insurance on your vehicle, there are a number of things to be considered in the event of your vehicle being stolen. Since you already have insurance, you need to gather all the information you will need to file a police report. This will include information like VIN numbers and chassis numbers. You will also have to notify your insurance company for the claims process to begin. Insurance companies will require a case number for the police report, so that will be where you begin. It is essential to be as truthful as possible about the circumstances around the theft as errors in your statement my result in your insurance claim being turned down.

A common trap that most people fall into when buying insurance is simply opting for the cheapest option quoted. That could potentially leave you with very big problems in the event of your car being stolen. Rental coverage, which provides for a rental until your claim is resolved, is often an extra that many people neglect. The added cost is usually minimal and amounts to less than a day’s vehicle rental per year. Add to this the fact that most insurance companies have a waiting period of weeks before processing a claim in the hope that the vehicle is recovered. If your car gets stolen, that could really hurt your budget if you need to rent something until the claim is resolved.

It is also recommended that you go through your insurance policy at least once a year to ensure that you are adequately covered. When going through your policy, also ensure that you have adequate savings to pay for your excess in the event of a claim. The excess is often very high, especially in the event of theft or car-jacking so having a savings account with sufficient funds to cover these expenses is a really good idea.

About Author:
Stuart Broad is a marketer at CheapCarInsurance.co.za and has vast experience in the insurance industry. He recommends that consumers shop around for insurance and car insurance quotes and learn about Insurance Quotes like AIG and Old Mutual.

By: Stuart Broad

Insurance companies partly use profiles of their clients to determine their risk. These profiles are based on how we have lived our lives. It therefore makes sense that important events in our lives will change our profiles and as a consequence change our potential risk.

Getting married

Getting married can be one of the greatest experiences of your life. Did you know that this auspicious occasion could also lower your monthly insurance rate? Insurance companies view married people as more stable both financially and socially. The merging of assets also allows people to add all of their belongings and vehicles to a single policy thus reducing costs. Depending on your circumstances, you may choose to move your assets to your spouse’s policy, but it is important to get quotes from both of your insurers to ensure you are selecting the company with the best possible rates. After getting married, it may also be a good time to re-evaluate both of your current insurance companies. You may find that after doing a bit of comparative shopping, another insurance company may be offering much better benefits and premiums to married couples.

Divorced or widowed

Getting divorced or losing your spouse is a difficult time. There are so many things you need to consider like funeral arrangements or law proceedings and often insurance is forgotten or left to the very last. This is an unfortunate mistake, but sadly a very common one. Since you may be the only full time driver again, your rate could go up significantly, possibly higher than you can afford. If you are getting divorced, you will likely be moving to a new home. This move will affect both your home and car insurance premiums. This is the time to log on to the Internet and shop around for insurance quotes. You will need to find the best quote for your situation and possibly even consider lowering your cover. This is likely not something you would be keen on doing, but it could save you quite a lot of money every year.

Retirement

Ah, the golden years! You have worked all your life and it is now your turn to really enjoy the fruits of your labor. It is time to travel, see the world and enjoy your life’s work with your loved ones. Since you no longer travel to and from work anymore, your annual mileage will drop and you can save significantly on your insurance. Consider switching to a “pay per mile” plan and shop around for the best rates. Getting rid of multiple cars could also be a good idea since you probably won’t need more than one anymore, thus saving even more.

These are the major life events that will affect your insurance needs and premiums, but there are many others that also change your risk profile. The best way to avoid overpaying on your insurance is to regularly reassess your insurance policies and shop around every year to check whether there are better deals available.

About Author:

Stuart Broad is a marketer who works for a number of South African life Insurance sites. If you are looking for a budget insurance, he recommends trying to get insurance quotes at InsuranceHound.

By: Stuart Broad

Pets have become as important in our lives as our children and for some people, their pets are their children. Thanks to dietary and veterinary advances, pets, like people, are living for significantly longer and as such are seeing more veterinary care. Surgery on pets has also grown tremendously as affectionate owners are opting for expensive procedures rather than putting their animals down. These visits and surgeries can be very expensive and our pets, like us, should be covered with a health plan to pay for unexpected medical treatment.

Finding an insurance company to insure your pets is often as simple as logging onto the internet, using a search engine and comparing company reviews. Unless you have a truly unusual pet, you should not have a problem getting their health insured. Most domestic animals from lizards and snakes to guinea pigs and rabbits to cats and dogs can be covered for anything from routine veterinary visits to lab tests to major surgeries. Some insurance companies even offer breed specific cover for specialized or rare breeds of dogs and cats. Even exotic birds can be covered.

It is a good idea to cover your pet as soon as you possibly can. Most companies will insure pets from the age of six weeks. Insuring them from a young age before pre-existing or genetic ailments develop could save you a lot of money. Insurance companies will also renew your policy even if your pet has fallen ill or was involved in an accident. Most insurers will not cover pets that are older than ten due to the increased risk.

Basic policies will cover illness, accidents, surgery and any lab tests, medications and treatment of cancer. Some companies offer routine care cover as an optional extra which might not be a bad idea. Pet insurance is much cheaper than human health insurance so the additional cover will often be affordable. Make a note of your insurance company’s cover of breed-specific problems as some companies are quite specific on that point. If possible do not buy animals that are known to have genetic weaknesses

Pet insurance usually works as a reimbursement plan. Since veterinary care is much cheaper than human health care, you can usually find the cash to pay upfront and then claim from your insurance company afterwards. In extreme cases, you can sometimes make arrangements with your veterinarian to accept partial payment until your insurance has paid out. It is important to note on your insurance schedule whether there are payment limits per claim as this could prove to be a difficulty in the event of a major surgery or other expensive treatment.

Remember to shop around and view potential company’s reviews on independent reviewer websites. Make use of price comparison websites to find good deals. Also check with your current health insurance company to see if they do not have an add-on pet insurance option. Ensure that the prospective company has a sound financial history so they do not leave you stranded in the event of a claim.

About Author:

Stuart Broad is a marketer who works for a number of South African insurance Brokers sites. If you are looking for a budget insurance, he recommends trying to get life insurance at InsuranceHound.

By: Stuart Broad

Assessing Your Insurance Needs

Most people are either underinsured or over insured. There can be many different reasons for this, but at the end of the day the onus is on us to make sure we have adequate cover. So how do we ensure that we have adequate cover without being over insured? The first thing any person needs to do when taking out household content insurance is to make sure that when creating an inventory, you value all your movable possessions at replacement value. If you do not have the time or expertise to do this little chore, you can hire a valuator to do it for you. They are relatively inexpensive and are experienced in these matters, so you can rest assured that you are covered for the correct amount.

In addition to making sure that you have adequate household cover, you should reassess the value of your household contents at least once a year. Inflation changes the replacement value rather rapidly and in the event of a break-in, you obviously want to make sure that your claim will cover you sufficiently to pay for the replacement value of everything that was stolen.

One thing that will often lead to you being underinsured is items that should be specified in an insurance policy. Collectibles, antiques, art and jewellery are prime examples. If you own works of art, let’s say paintings for this example, you may be very knowledgeable about their value. After all, you paid for them in the first place! Keep in mind that many items such as works of art or other collectibles can increase significantly in value over time. For this reason, it is of the utmost importance to have these item valued at reasonably regular intervals.

If you are underinsured, the result in the event of a claim would be that the ‘average clause’ in your policy will be invoked. These are standard in any insurance policy. Say for instance you insure your household contents for $30 000 and you get burgled. When the assessor comes to your house after you put in the claim, he determines that the value of your household contents are in fact $60 000. If the burglars only took off with half your property, the insurance company will only pay out $15 000 and not $30 000. That is because you only insured half your household contents and as such are only covered for the 50%. That would be a major disaster to anyone and it is easily avoidable by simply making sure your coverage is adequate.

If you are unsure about how to go about taking out a home contents insurance policy, then consult an independent insurance broker for assistance. If you believe you are capable of assessing your own needs, then try to use a direct insurer or find a cheap policy via an insurance comparison site. This will usually work out faster and cheaper than an insurance broker. If you own works of art that are very expensive it would be wise to find specialised art insurance instead.

About Author:

Stuart Broad is a marketer at CheapCarInsurance.co.za and has vast experience in the insurance industry. He recommends that consumers shop around for life insurance and car insurance quotes and learn about home Insurance like AIG and Old Mutual.

By: Stuart Broad

One of the most important parts of your business plan is your insurance. So many businesses neglect this essential aspect and are left with only ashes after disaster strikes. There are, however some things you need to consider before signing with any insurance company.

The three main items to consider are: price, service and the financial stability of the company. These three key features can prove to be the main factors that influence your monthly premium and determine whether your claim is successful in the event of a disaster.

Price

Comparing quotes from multiple companies can save you a small fortune over the years. The minor act of logging onto a website that compares quotes can save you time, effort and money. Be sure to read the fine print of any insurance contract. The excesses can be set to a really high amount in order to lower the monthly premium. Having a set excess, as opposed to a percentile of the claim, will often increase the monthly premium. If you choose to spend less per month and have a higher excess, ensure that your savings will be able to cover the excess in the event of a claim.

Service

The service options that insurance companies offer can vary greatly. Make sure you choose an insurance company that has been in the industry for at least a decade. Although this may increase the monthly premium, you can rest assured that the company has a reliable track record and can be trusted. Considering that you are placing the entire risk profile of your business in the hands of this company, the cost is usually worth it.

Stability

In the current global economic meltdown we are experiencing, insurance companies are “falling over” everywhere in the world. This is cause for some alarm. If you insured your business with a company that files for bankruptcy and then need to claim, you could find yourself and your business in a spot of trouble. Research will assist you in making the correct choice. Make sure you choose a company that has a good history and financial reputation. The few minutes spent searching the internet for information on the company you are interested in can save you much pain and suffering in the future.

The best, although not necessarily the cheapest option, is to employ a certified financial advisor or independent broker to assist you in choosing the correct and most appropriate policy. This is particularly true when it comes to businesses with unique needs and risks. A general business insurance policy, similar to a home contents policy, is safe enough to source on your own via direct insurers, but if your risks are more unique like those of a doctor or engineer, then professional help is recommended.

Above all, use a touch of common sense and ignore marketing gimmicks. Make sure that you feel comfortable with your decision and that you are able to pay your premiums. Make your decision with as much information at your disposal as you can find and review your decision on a yearly basis.

About Author:

Stuart Broad has extensive experience in the life insurance industry. He is very passionate about following the developments at insurers like car and motorcycle insurance.

By: Stuart Broad

Since insurance is based on the sharing of risk, your home’s history could very well play a significant part in determining your insurance premium as it could increase the home’s risk profile. This is not confined to risks such as burglaries, but also applies to any claims that may have been made by the previous owners.

For instance, if the house in question has a history of burst water pipes, it stands to reason that there could be an underlying problem with the plumbing that may not yet have been fixed. In addition, structural damage from previous floods could also play a role in the structural integrity of the house. It is therefore important that prospective homeowners get the house they are interested in properly assessed before purchasing it.

There is a strong correlation between a persons’ claim history and the likelihood of that person claiming again in the future. Properties that have a strong claims history also tend to perpetuate that claims history, thus costing insurance companies more over time. As a result, insurance companies tend to evaluate insurance premiums based on the claims history of both the new homeowner and the property to be insured. Keep in mind though that these considerations only form a small part of the overall risk profile associated with an insurance premium.

Insurers may, based on these statistics, view the home’s claims history as part of the insurance applicant’s risk profile even thought the claims were made by another person prior to the new owner occupying the house in question. Since some countries and some states within the USA have mandatory time periods within to respond to people applying for insurance, insurance companies may take negative actions when presented with such an application. Subsequently, because the insurer does not have adequate time to investigate the application properly, underwriting can be denied.

Based on all these factors, you may choose to do a full investigation on your new dream home’s history; not only considering whether the previous owner made multiple claims, but also what the previous owner claimed for. Although a damage claim by the previous owner may not influence the premium, the associated risks may be an underwriting factor that prevents an insurer from accepting the risk. Based on the outcome, you may choose to continue searching for a more appropriate home. You may also want to use insurance comparison websites to analyze the differences between premiums and check which insurance companies are increasing their premiums based on your home’s history.

About Author:

Stuart Broad is a writer who works for various car and home insurance sites. If you are looking for a cheap insurance, he suggests trying for well known insurance broker.

By: Stuart Broad

Getting married is undoubtedly one of the busiest and most stressful times of your life. You have all sorts of arrangements to make and you have a deadline so you have to make them quickly. You probably can’t think of anything other than getting married to the person of your dreams and feel you can only afford to focus on your big day. Although this is understandable, and indeed expected, you also need to consider your insurance. Tying the knot will drastically change your insurance needs and options and you should try and sit down with your soon-to-be spouse and evaluate these carefully. Re-evaluating your homeowners, life and health insurance well before the wedding is definitely a good idea so when you come back from the honeymoon, your insurance needs are covered and you can go about “being married”.

Short-term insurance

When you get married, both your household contents will be covered under a single policy, but this is probably not the case before you say “I do”. If you are both insured by the same insurance company which is unlikely, you could simply move all your property on to one person’s policy. If not, it is wise to shop around for the best possible rate while retaining adequate cover. Getting married will change your risk profile and your monthly rate is likely to be much less, especially your vehicle insurance.

Health insurance

Similar to short-term insurance, married couples tend to pay less for health insurance than their unmarried counterparts. Most health insurance companies do not offer domestic partner cover and if they do, it is considered taxable income if you submit a claim. To that end, it is advisable for unmarried couples to have separate health insurance policies, but all that changes when you get married. Compare your policy to your partners’ and see which offers the best possible benefits for the lowest premium. It is also not a bad idea to shop around for a possible alternate insurer than either of you currently use.

Life insurance

Many consider life insurance the most important policy to consider, especially if you are starting a family. They will need to be protected in the event of either of your deaths and as such, this should be discussed well before the wedding. If you already have a policy in place, you would want to consider increasing the cover so that your loved ones are not left without a source of income after your death. If you have not already done so, you will need to change the beneficiary on your policy as well.

Ensuring that all your insurance needs are taken care of before you start your life together will not only provide you and your soon-to-be spouse with much needed peace of mind, it could also save you a few pennies on your monthly installments which is often very welcome.

About Author:

Stuart Broad is a marketer who works for a number of South African insurance sites. If you are looking for a budget insurance, he recommends trying to get insurance quotes at InsuranceHound.

By: Stuart Broad

Step 1: Try lowering your mileage

Keeping your mileage low can save you a lot of money per year. Travelling by public transport or carpooling reduces your risk profile and as such will lower your monthly premium. Ask your prospective or current insurer whether they have a pay as you go plan.

Step 2: Increase your excess

When you claim, you will have to pay a percentage of the claim. This is called an excess, or deductible in the USA. Increasing this amount can have a significant impact on your monthly premium. Some companies offer a fixed excess, but then your monthly premium will be much higher. Consider what you can afford in the event of a claim and choose your insurance policy accordingly.

Step 3: Don’t add unnecessary cover

If you are not going to use roadside assistance or you have a spare vehicle that you hardly use, consider removing the additional cover from your insurance policy. Depending on whom you insure with, this can be a substantial amount. Keep in mind that with rental cover, the annual amount paid could be less than a single day’s car rental so it may be wise to keep that added cover.

Step 4: Mind what you drive

Different vehicles have different risk profiles. You will certainly pay more per month on a sports car or a vehicle that car hijackers prefer than if you drive a low profile, low risk vehicle. Some insurance companies will offer discounts on hybrid vehicles as well so keep that in mind if you drive one.

Step 5: Secure your vehicle

Safe parking, vehicle tracking devices, alarms and immobilizers will all lower your vehicle’s risk profile. Ensure that you only fit approved devices in your vehicle and have them inspected by your insurance company. Make sure you never leave your car unlocked or valuables in plain sight. This will only tempt thieves and will increase your risk profile with your insurers after you claim.

Step 6: Follow the rules of the road

Maintaining a safe driving record will have a major impact on the quote you receive from insurance companies. In some countries, they can even check traffic violations that you may have had in the past. Do not claim unless you absolutely have to, as this will also increase your risk profile. Make sure you obey the rules of the road at all times.

Step 7: Compare quotes

There are so many websites available that will provide multiple quotes online to make shopping for insurance a breeze. Utilize these websites and see which policy will save you the most, but also keep your eye on the excesses and other fine print in your policy.

About Author:
Stuart Broad is a marketer at CheapCarInsurance.co.za and has vast experience in the insurance industry. He recommends that consumers shop around for motorcycle insurance and car insurance quotes and learn about Insurance Quote like AIG and Old Mutual.

By: Stuart Broad

There are so many different insurance companies out there offering insurance services that it can be quite a challenge finding one to suit your needs. There are a number of factors to consider, though, that can assist you in narrowing down your options and choosing a company that suits your specific insurance needs.

Financial Stability

In the current financial crises, insurance companies are filing for bankruptcy all over the world. This should be a major concern for the consumer because it can directly influence the outcome of any possible claims you may need to make. For this reason, it is very important that you only consider insuring with a company that has a rock solid financial history. In addition to that, you also need in ensure that the company you are considering has a positive financial outlook during these worrying global recession. There are also companies with independent ratings of existing insurance companies like A.M. Best, Fitch, Moody’s and Standard & Poor’s.

Cost of Premiums

Your monthly premium will obviously have the most direct impact on you, the consumer. Due to budget requirements, you may not be able to afford the best insurance or the most comprehensive policy. Most companies have multiple policies with multiple levels of cover. The cost of a certain amount of cover will also differ from company to company. It is therefore very important to shop around for motor insurance until you find a company that offers the range of cover you require, at a premium you can afford.

Service Levels

Service levels will influence your experience tremendously after you have signed with an insurance company. There are many sites on the Internet that have independent, user generated reports on service levels that people have experienced with specific insurance companies. If a company has track record of poor service, you may have some problems when it is time for you to submit a claim. To that effect, make sure that the company and/or your broker is always easily accessible.

Reputation

Finally, you need to consider the company is questions’ reputation. Making some light conversation with family and colleagues will quickly help you to form a first-hand opinion of a prospective insurance company. Make sure you feel comfortable with you choice and be willing to change if they seem to start slipping away from their original service level.

Therefore, before purchasing car or motorcycle insurance from the insurance company that offers you the lowest premiums do a bit of research and make sure that the company meets the criteria listed above. This could help you avoid nasty surprises in the future.

About Author:
Stuart Broad is a marketer at CheapCarInsurance.co.za and has vast experience in the insurance industry. He recommends that consumers shop around for motorcycle insurance and car insurance quotes and learn about insurance companies like AIG and Old Mutual.

By: Stuart Broad

As a young adult, you will undoubtedly pay more for your car insurance than people that are in their thirties and up. This is especially true if you are younger than twenty five. There are many ways to lower your risk profile, thus lowering your monthly rate. Taking a defensive and/or advanced driving course, driving a cheaper car, joining an auto club and lowering your mileage use per month by using public transport and carpools where possible are all options that can lower your monthly insurance rate.

In addition to these “common sense” steps you can take to lower your monthly installment, you could also consider lowering your comprehensive and collision cover if you have an older car that may not be worth as much. The reason for this is that if the damage is significant enough, in the event of a collision, the excess payment could be more than the vehicle is actually worth! If, however, you can afford a more expensive vehicle or even a new one, buy something with as many safety features as possible. This includes airbags all round, unbreakable or electronic locks, automatic lights and even a car with an automatic transmission. These safety features, especially the locks, can lower your rate with certain insurance providers.

Another obvious feature you will want to consider when purchasing a new car is security features. Many insurance companies refuse to insure a vehicle if it does not have a gear lock, immobilizer, alarm or tracking system. It also stands to reason that the more security features your car has, the lower the insurance premium. Where you keep your vehicle at night and at work will also fall in the security category.

Finally, many insurance companies consider your social and economic status when evaluating your risk profile. If you are married or engaged, you are considered more stable, thus lowering your risk profile. Having children will also count towards this. Your career and job also influences you premium as insurers have, through the years, established which kinds of drivers tend to go for certain careers. For instance, a technical engineer is less likely to go out and drink excessively before driving than someone employed in the service industry.

Comparing quotes online or by telephone will greatly assist you in selecting the company to best serve your insurance needs but never skimp on your cover to save a few pennies; this could backfire badly when you need to submit a big claim.

About Author:
Stuart Broad writes about Motorcycle Insurance. To know more about Motor Insurance please visit http://www.cheapcarinsurance.co.za/

By: Stuart Broad

Insuring your car has become essential as the cost of vehicles and vehicle repairs have steadily increased over the years. Buying your car is probably the biggest purchase you will ever make apart from property. As such, it is imperative that your vehicle is covered against unforeseen disasters.

In South Africa, there are three different kinds of cover:

Comprehensive

This is the most expensive cover and if you are getting financing on your vehicle, the bank will insist on comprehensive cover. This policy, as is implied by its name, provides comprehensive cover against fire, theft, collision, damage and hijacking. Comprehensive cover will also cover you from third-party claims.

Limited

Limited cover is somewhat cheaper than comprehensive and covers you for theft, fire and hijacking. It also covers you against third-party claims, but you are not covered for your vehicles’ damage in the event of a collision.

Third-Party

Cheapest of the lot, third-party will only cover damage done to other people’s property. This is often not a very wise insurance choice except for really old vehicles that are only used on very few occasions.

Insurers have recently introduced “pay as you go” insurance options for drivers who do not travel excessively. You can get comprehensive insurance on this plan at a much lower rate, determined by the average amount of kilometers you drive per month.

Submitting a claim:

If you are involved in an accident or other kind of incident and need to submit a claim, do it as soon as possible. Some insurers have a window that you must claim within and the same goes for reporting the incident to the police. Payouts on the claims will vary depending on the claim you are submitting for. Usually, the insurance companies will deal directly with the dealership, in the event of theft, or the panel beaters, in the event of a collision. The excess will need to be settled by you in order for the new or repaired vehicle to be released.

Comparing quotes online or telephonically might save you quite a lot of money and is definitely recommended. There are many websites available that offer this service for a nominal fee from the insurer that gets your business. Utilize these services wherever possible and keep in mind that if you do not have internet access, you can also use a telephonic equivalent.

About Author:
Stuart Broad writes about Insurance. To know more about Insurance Quote please visit http://www.cheapcarinsurance.co.za/

By: Stuart Broad

Most people have insurance in one form or another these days. We have no choice in the matter really. The fact is that anything can happen at any time and to mitigate that risk, we need to make sure that we are adequately covered. But how do you know you have the correct amount and kind of cover? There are quite a few guidelines that one should follow when considering insurance, but in this article I would like to point out a few very common mistakes people make when choosing their insurance policy.

Too lazy to shop around

Unfortunately this is often the most common mistake people make. The excuses that you may not have enough time to properly compare quotes is really ludicrous considering all the companies out there that will compare quotes on your behalf, only requiring that you fill in a single form with your details. If you aren’t willing to shop around for the best product to suit your needs and your pocket, you have no-one to blame but yourself.

Only comparing monthly premiums

For many people the monthly premium is really the bottom line, but this way of thinking could land you in hot water. Not only is that only a portion of what you need to consider, not looking at other factors such as excesses could really hurt you financially in the event of some disaster. In addition, you also need to consider the company’s track record. Make sure that there are not any major complaints on web forums about the amount of time taken to pay out or declined claims.

Fine print

Who enjoys reading fine print? I certainly don’t! Unfortunately, if we want to be sure that we are adequately covered and know exactly what to expect in the event of a claim, we need to be familiar with the terms and conditions of our insurance policy. Most countries have laws that state that an insurance broker must explain the policy to you in full when you are purchasing it. That person also needs to answer any questions you have satisfactorily.

Buying too many policies

Telemarketers call us very frequently, often with a line to the effect of “You have been specially selected…”This obvious marketing ploy will only take your money and dump it into unnecessary funeral plans, hospital plans, life policies etc. If you already have a policy in place, that should be good enough. If it is not, cancel it and get one that will be sufficient.

These few simple pointers will help ensure that you don’t pay too much for your cover and ensure that you are adequately covered in the event of a tragic event. Regardless of who you insure with, make sure that you follow these simple common sense principles before you sign your name to a contract.

About Author:
Stuart Broad writes about Motor Insurance.To know more about Insurance, please visit http://www.cheapcarinsurance.co.za/

“Imagine you want to arrange a mortgage on your first house purchase. You need $200,000.00 Find the best rates and terms available from three different type of lenders such as a mortgage broker a major bank and a banking company such as president choice. Describe the advantages and disadvantages of each and choose the best one.”

I know the mortgage rates fell this week, but what did they fall to? How long will this last? I am currently looking for a home, so it would be good info. to know. Thanks.

Can an American obtain a mortgage loan from Japan where the mortgage rates are much lower?

How does that correlation work?
How do mortgage rates respond to the circumstances of Fannie and Freddie?

Is there an independent site (besides bankrate.com) that publishes daily mortgage rates? Ideally, I am looking for a datafeed I can integrated into a project.

I’ve been shopping for a low interest rate (30 year fixed). I have excellent credit but it doesn’t seem to help me much when I go into large local banks. It seems like they just run the basic numbers to make sure I qualify for a conforming loan. They then tell me their printed rate on their website. My experience with smaller mortgage companies is that they collect more information and they have quoted lower rates.
Is this typical?

I have an adj mortg rate, that’s set to renew in september, and with mortg rates being low right now, could it go lower than it is now? Right now it’s high, and that’s what my mortgage started with…not a low int rate.