Tag: insurance

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by Incredible Planet Staff

Top three things to look at when shopping for a vehicle to make your payments more affordable


Technology

Most people who own or have owned a car know that it can be a costly affair. For some people the price of the car itself is all they focus on, while others look at the whole picture, from insurance and registration fees, to mileage and spare part prices. Today we will list three of the most important things you should consider if you wish to save on your car expenses.

We all have certain things we need our car to accomplish that are universal, such as getting us safely from point A to point B, but other things are more subjective. Do you need advanced air conditioning or the extra large 12 valve engine? When shopping for a new vehicle, it can be a wise decision to list things you absolutely need, and things that would be nice to have.

1. Go to a local dealership that sells the vehicle you want

One of the best tips we can give is to scour your local car dealerships for good deals. Many people first look online at private sales on websites, but going through your local car dealership can come with a variety of benefits.

Local car dealerships will look out for your best interest when buying a vehicle, as their reputation and business depends on good customer relations. It can also be convenient to quickly drop off the car for repairs or warranty issues at your local dealer.

You can still look online for an idea of prices and compare to other models, that way you have some valuable information if you decide to negotiate with your local car dealer. And sometimes you might even be able to bargain with the dealer to match a price you saw online and save some money on the purchase price as well.

2. Get the best interest rate for your auto loan

Most people do not consider interest rates when shopping for their next car. But every little bit counts, and half a percent can add up quickly over the months and years. If you are not happy with your current rates, or if you don’t have any knowledge of this area, speaking with your local car dealership can be a good way to find affordable loans.

Many times you can find some of the best interest rates through your local car dealership, as they often have a good connection and special deal with a bank or other type of lender based on the referrals they get.

3. Check the price of your car insurance for that specific vehicle you want

A sure fire way to save money on your premiums has to do with choosing a car that statistically is considered a safe car by the insurance companies. Car insurance is among other things calculated by the rate of accidents per model, so sometimes it is not just about the engine size or the sales price of the car.

According to Alex Martin from Insurance By Alex, a lot of people go to buy a car and do not bother checking the car insurance rates before they buy it. Then they get shocked when they realise what the premium turns out to be. His advice is to look at the car insurance premiums before choosing the exact model and type of car you want to buy.

By narrowing down your car search to 4-5 models and then contacting insurance companies to learn which cars are cheapest can be an easy way to keep your costs to a minimum while still getting a car with all the features you want.

Conclusion

It does not have to be difficult or time consuming in order to save money on your car expenses. From the purchase price to your monthly bills, a little foresight and planning can go a long way in making sure you get the best deal.


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by James Adam

Benefits of insurance


People

People often ask what the group benefits of getting insurance are. That depends on your perspective. There’s the company’s angle, which has the group benefits for his or her employees, and then, of course, there’s the angle of the worker receiving the benefits. The subject of insurance is often counteracted into many subcategories, for discussion during this text, ready to accommodate the two perspectives mentioned and discuss the benefits of insurance from each of those perspectives.

Affordable than individual

Group health benefits are often far more affordable than individual insurance. It may be because the worker frequently pays a number of the premium, while the worker pays the remainder. Though the full premium and so the worker portion may vary between employers and plans, it’s nearly always more budget-friendly to be part of a gaggle plan. The worker typically has the alternatives of individual coverage, employee plus spouse coverage, and family coverage. A person with a family will usually come out better cost-wise choosing the family option; however, this might not be so simple if the spouse also contains nonprofit insurance option through an employer.

In this case, it can sometimes be beneficial to possess coverage under both plans. Often, they are going to supplement each other. Some analysis is vital to figure out if it’s better to maintain family coverage on both methods or carry only one plan, or some combination. It may rely upon the proportion of the worker portion of the premium for each process, how the methods will complement each other, and anticipated medical needs. For example, a family that contains a member with a chronic illness may embark better, having full coverage on both plans if they go to supplement each other well. It might be determined by contacting the insurer. Another possibility is that it should be more cost-effective to carry the kids and one spouse on one plan or the other, while the remaining method is utilized only for the other spouse.

Open enrollment

Every company contains a specific time of year that’s for “open enrollment’. It means that anyone in your family that wasn’t on the plan before but wants to be now is added to the policy. Or it can also work just the opposite if someone wants to urge off the plan. But once you create this decision, you’ve to live with it until the subsequent open enrollment. The only exceptions to this rule are for marriage and divorce. Changes like these are often done throughout the year.

Small business owners can also now offer insurance. The rates won’t be quite just about pretty much as reasonable as an even bigger company would get, but the staff can still get insurance. There must be a minimum of two people, and no over 50, to qualify for small business insurance.

Best for insurance

Suppose you or someone you recognize would adore additional insurance information. Please visit our company, Chambers of commerce.

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by James Adam

Snow Plowing Insurance & Liability: What You Need to Know


Business

If you live in one of the colder areas in the country (we’re looking at you New England, and you too Midwest), you’re undoubtedly used to harsh winters (that are seemingly never ending). Ask any resident of these regions about snow plowing, and they’ll tell you that snow plow services are invaluable to their daily lives during winter months (and sometimes even extending into spring).

Maybe you have your own plow and are looking to start a plowing business on the side. Or, maybe you’re an established plowing contractor but don’t quite understand the liability that you face on a daily basis. Either way, this blog gives a rundown of typical snow plowing insurance liabilities, as well as coverage types/options.

I already own a plow, isn’t that covered under my auto policy?

The answer to this all too common question depends entirely on the type of auto insurance policy that you have, and exactly what you’re using your snow plow for (i.e. personal use or business use).

Private Plowing

If you’re only using your plow to work on your own driveway, your personal policy will probably extend to your plow. However, this varies from provider to provider and honestly depends on what coverage type(s) you have listed on your policy. It’s always recommended to get in touch with an insurance agent when dealing with these types of issues. Using a plow for personal use is generally much less complicated than using one for commercial use.

Plowing as a Business

It doesn’t matter if you’re just a part-time plow workers or you do it as your full-time job, you’re going to need a few different insurance policies to have all of your bases completely covered. Not only will you need a commercial auto policy (which may or may not include plowing coverage), but you’ll also some form of liability policy (in addition to a plowing policy if that’s not already covered under your commercial vehicle policy).

Snow Plowing Liabilities for Small Business Owners

If you want to start a plowing business (or you already own one), you’re probably aware that you need to open insurance policies to protect your business. Snow plowing insurance typically covers any associated liabilities involved with that line of work (property damage, personal injury, etc.).

Many states that are located in regions that receive large amounts of snow per year (such as New England or the Midwest), have enacted numerous laws that cover snow plowing liability. For example, in the State of Massachusetts, it’s essentially illegal to operate a snow plow (commercially) without some form of plowing insurance (with the proper coverage types).

Obviously you need insurance that will protect your business during the operation of running a snow plow. But, what about after you’re done plowing? Does any liability from property damage or personal injury fall on the shoulders of the plow owner after they’ve completed plowing? This is where plowing liability becomes a tricky issue. Keep the following liabilities in mind both during/after you’ve plowed commercially:

  • Condition of the roads pre/post-plowing
  • Whether or not there is any snow/ice on the roads after you’re finished
  • What if someone gets injured due to a mistake in your plowing?
  • Does your commercial auto policy cover these kinds of liabilities?

It’s important to have these types of questions in mind before your start a plowing business (or even if you already own one). Does your policy cover this type of liability? Will you need to purchase an additional general liability policy? If you’re interested in learning more about general liability policies then talk to an insurance expert in your area.

Snow Plow Insurance & Contracting Tips

If you’re ready to start plowing commercially, but are unsure of how to start getting work, consider the following tips:

  • Know exactly what your competitors are charging in your target area.
  • Understand that potential clients will be fielding offers from other contractors.
  • Include some references in your potential contracts.
  • Look at properties in-person prior to plowing, and take photographs to use as references during/after plowing.
  • Remember to get any contracts/agreements in writing, and file them appropriately.
  • Pick a quality snow plowing insurance company to open a policy with.
  • Make sure the insurance policy you choose has the proper coverage amounts for the area where you plan to operate your business.
  • Make the safety of your employees and clients the top priority in your business’s operation (especially during adverse weather conditions).
  • Ensure that all of your snow plow equipment is regularly maintained and in good working order (before using it commercially).
by James Adam

Do I Need Workers’ Comp Insurance? An Entrepreneur’s Guide


Business

Are you a freelance worker that’s unsure of how you’ll protect yourself in an emergency? Do you wonder how you can get compensated for an injury if you don’t have an employer that offers it?

If so, then you need to consider workers’ comp insurance for yourself. That way, you’ll have a way of protecting you and your family’s finances in the event of an injury. Even if you don’t have employees, you’ll need security for yourself.

See below for an in-depth guide on workers’ comp insurance and the signs of whether you need it or not. Be sure to consider them all in your decision.

What Is Workers’ Comp Insurance?

In a normal setting, workers’ comp insurance is a section of business insurance that’s meant to protect workers and employers during a workplace injury.

The worker will need compensation to cover medical expenses, rehabilitation, counseling, or any other service they need to recover from the injuries or illnesses they sustained on the job.

Employers are legally inclined to offer workers’ comp insurance for any sized staff. If the staff exceeds one person, they have to provide workers’ comp.

However, if you’re a freelancer, then you’ll want coverage of your own. That way, your future is protected if you injure yourself on the job.

In fact, some many clients and companies will want you to have workers’ comp for yourself before they hire you. They require it for any freelancers they hire so that they aren’t liable for any injuries that occur, but also to protect you.

Because of that, the name of the game is finding an affordable policy. One that you hopefully never have to use, but is always there in a time of emergency.

Do You Need Workers’ Compensation Insurance for Yourself?

You always think it’ll never happen to you. You expect a safe day to day because of how much you focus on performing your job the right way. However, accidents are always a potential risk.

Imagine the horror of going through your workday when all of a sudden you experience an injury. Maybe you slipped on a wet floor and hit your heat. Perhaps something heavy fell on your leg.

Whatever the case, you need to seek out emergency medical attention. Otherwise, the injury could worsen and have life-long consequences.

In those moments, you want peace of mind that the finances will be taken care of. It will allow you to receive all the medical attention you need in order to get yourself back to where you were.

If you don’t have workers’ comp in that situation, you’ll either try to shrug off the injury and work through the pain (causing it to worsen) or cut corners on the treatment that you receive.

What Are the Benefits of Workers’ Comp?

While reading through this article, you’ve undoubtedly seen some of the benefits of workers’ comp already. However, they bear repeating to drive the point home that you need to invest in it for yourself.

See below for some of the major benefits. Make sure to consider these before you make your decision.

  1. Pays for Lost Wages

Sure, there are some of you out there that have an emergency fund that’s extensive enough to cover medical expenses during an emergency. But do you have enough saved to pay for lost wages?

Medical bills aren’t the only consequence of suffering a severe workplace injury. You will also miss out on getting paid for projects while you’re unable to work.

Workers’ compensation takes all of that into account. You can receive compensation for both the medical expenses you’ve piled up and the wages you’ve lost while in recovery.

  1. Covers Worsening Conditions and Illnesses

What if your asthma starts acting up from a project that you’re working on? What if you become sick from the constant exposure to chemicals on a job site? You’ll be unable to work and will need to receive immediate care.

Workers’ comp insurance covers any illness or worsening condition that’s directly affected to the job you were performing. That way, you can cover the cost of the treatment to get yourself back in fighting shape.

Without it, you’ll be sitting out of freelance projects while trying to recover from your illness. All the while, you’re losing out on money and paying for costly treatment.

  1. Coverage for Your Family’s Future

It’s understandable that an employer might be hesitant to offer workers’ comp for their employees (even though they’re legally required to).

But in this case, you’re able to control the safety of your future by investing in cheap workers’ comp insurance. No more fear of the unknown. No more staying up at night wondering how you’ll pay for your mortgage and medical bills during an emergency.

Workers comp ensures the safety of your tomorrow. You can take the time and the investment to get yourself right before returning to work. No need to hustle back in order to make a salary. That’s covered by workers’ comp.

Invest in Workers’ Comp Insurance for Yourself Today

Now that you have seen all the information on why you need to invest in workers’ comp insurance for yourself, it’s time to start that process.

Be sure to find a workers’ comp insurance provider that you enjoy working with. In your hour of need, you’ll want to have confidence and trust in the company you’re working with.

Also, make sure to browse our website for more articles on workers’ compensation, as well as many other helpful topics that you’ll enjoy.

 

by James Adam

Get Additional Benefits through Insurance Endorsement


People

One who owes the car should not forget to have car insurance, as it will cover damage caused to your car in case of an accident. The cost of repairing the car is quite high and it becomes difficult to handle it when you are living with a fixed budget. So if you have insurance it becomes easy to handle all reparation cost as an insurance company would be there to handle your bill. This type of insurance also gives different coverage like liability, personal injury and many more. In all opting for car insurance is one of the best ideas to deal with any accident.

Today you are not required to visit any Insurance company to opt for car insurance, as online service is available for you. Just get quotes from a different company and comer their prices along with services to find the better option. Thus, you will have the option to save time and money along with benefits.

Benefits of car insurance

  • Car insurance helps to get personal accident coverage where you get financial aid to pay medical expenses for injuries caused during an accident. It is possible only if you have insured your car and thus get good coverage to fight against the situation.
  • No one has control over calamities, but the damage caused by it; have to be handled by you. So, under the car insurance policy, you can also have an option to get coverage if your car is suffering due to any such natural calamity. In case of fire, flood and any other such disaster you can claim insurance company for coverage.
  • Car accident will not only damage your car but also make you mentally disturbed. It is very difficult to bear the damage expense but if you have car insurance be stress-free as an insurance company would give financial aid against reparation cost. It is a great help as repairing cost of vehicles some serious accident is quite high and one cannot handle it alone.
  • If you are the cause of accidents and there is damage to the car of the driver, you are required to pay for it. Under car insurance policy there is coverage where liability expenses will be offered by the company against an insured car which will help to handle such expenses.

What is meant by guaranteed renewal endorsement?

An insurance endorsement is an addition which brings the additional contract to the current insurance policy. These type of addition can benefit both insurers and insurance company. It is being added at time of policy or during renewal and is made according to the changes in rules of insurance. It would help insurers to get added coverage for their policy and thus get more security.

Oen such is guaranteed renewal endorsement where the insurance company is forced to renew your policy until you are paying all your premiums. This endorsement is available for health, life and disability insurance. This is mainly in favour of insurers as they can get coverage through policy if they are suffering from any health condition.

This plan can give the right to an insurance company where they can raise your premium based on your previous claims. But it will protect the insurers to carry out any expensive treatment in case of bad health. If an individual is paying their premium on time and is having such a plan it is must for an insurance company to renew their plan.

People who are willing to get required financial help must opt for the best insurance policy. Go for an insurance company, which comes with all additional benefits that can bring more benefits and more coverage against the policy.

by James Adam

5 Essential Tips Of Key Person Insurance Policy


Business

Key person insurance is the premiums paid to an insurance company to protect a company’s financial interest in case the key person is disabled or dies. A key person is a significant contributor to business success. So, if the key person is met by untimely death or disability, there is a high possibility of the business to fail.

But, suppose the company had the key person insurance, the company would get paid, and that amount would be used to stabilize the company.

The following are other reasons why a key person life insurance policy is essential.

  1. Train and employ a new replacement

Finding an employee who can resume duties of another lost employee is difficult and time-consuming. It becomes more complicated when the replacement is not as suitable as the lost employee, and you have to train them to match your requirements. But, if an insurance company pays up, the company will use the money to instill the required knowledge for running the company to the new employee.

  1. Protecting assets

Assume the key person of a company is the owner and the manager. It means he is the one running essential details like mortgages, loans, and real estates. Now suppose the manager dies and you are the significant lender towards operations of the company. You will rush to get your money back because you don’t know the future of the company anymore. But if the company uses the insurance payable to settle some of your money, you will be confident to continue supporting the company. Now, you understand the importance of key person life insurance policy. When the company uses the insurance policy, its assets will remain intact.

  1. Protecting other owners

When the key person dies, his interest is supposed to be inherited by immediate kin. Now, if the company lacks the insurance policy, it will have to liquidate some of its assets to pay the deceased family. But, if the company had a key person life insurance policy, they will use the amount to pay the family.

Note: sometimes liquidating the company’s assets means the company has to die. Imagine paying a key person’s family its interest, and it’s a lot of money which might collapse the business. As co-owners of such company, it’s advisable to protect your interests and the company at large.

  1. It ensures continuous cash flow

Suppose the key person is involved with all financial. It means he is the person who meets with the lender and investors. Even though he uses the company name to get the finances, it becomes difficult to tell those lenders that you’ve replaced the key person because he died. As the crucial new person, convincing the lenders will be difficult because they don’t know you to begin with. You have to create a connection with personal lenders. Meanwhile, the company has to keep running, and the insurance policy paid to the company can solve a financial hitch.

  1. Lenders requirement

A growing business might need financial support from banks and other lending institutions. If the success of the company using the money is tied to a key person, then the commercial lenders require the key person to be insured so that they can recover the money which they lend the business in case the key person dies.

Life insurance policy is essential but make sure you research on the types of insurance plans before you purchase one.

by James Adam

Critical Illness Insurance Features and Benefits


People

A critical illness insurance policy is an insurance coverage wherein the policyholder is provider a lump sum of money defined in the contract under specific circumstance by which the man or woman is diagnosed with a critical illness insurance that is also clearly stated in the policy. In some instances, the system may be made up in such a way that it ensures that a regular payment on the policyholder. Specific surgical treatments will also be considered under this insurance policy.

Life Insurance policies are offering Critical Illness riders which will probably pay anywhere from $5,000 to $100,000 upon the first diagnosis of a critical illness. Several of those life insurance riders will pay you this benefit up to 3 times within the condition of their life insurance policy.

It usually is less expensive to buy a critical illness rider on the life insurance coverage policy that if you buy a critical illness stand independently policy. If you get the rider, additionally you will find the extra death benefit to get a life policy in additional into some tax-free allowance to your beneficiaries.

Some insurance might say that the policyholder is required to become alive for a minimum period after the diagnosis of this illness before the insurance payments will be left. This period is referred to as the survival period. Though this period varies from company to company, in most scenarios, it is fixed from 28 to 1 month.

The critical illness insurance is also known as the crisis cash, living assurance or even the severe illness insurance plan.

The primary illnesses for which this insurance provides coverage can differ from one insurance company to another. But four main diseases which can be covered under this policy are defined in 1983, and they’re namely coronary artery by-pass operation, cancer, heart attack and stroke. Eventually, a great many other health conditions were inserted into this definition such as the Alzheimer’s disease, kidney failure, major organ transplant, and blindness, multiple sclerosis, deafness, Parkinson’s disease, paralysis of limbs, terminal illness, HIV or Aids touched by blood transfusion, etc..

The amount of diseases or illnesses which can be covered under the critical illness insurance is continually changing, and the sum of the insurance policy being provided for a particular condition may differ from time to time, depending upon the amount of diagnosis being made as well as also the treatment available for the disease. This means that policy for diseases that seemed important years ago may not be that far in demand now and illnesses which can be insured today might not require that insurance plan tomorrow. It is likely that diseases such as rheumatoid arthritis and diabetes might enjoy greater insurance policy in the long term.

Requirement For Critical Illness Insurance

The critical illness insurance was initially offered due to the requirement of safeguarding the financial conditions of folks who are unfortunately struck by an illness that have been deemed critical after treatment or diagnosis had been made.

The finances received by the payment of this insurance may be utilized for paying off treatment bills and costs, used as aid for recuperation, repayment of loans, make up for lost income incurred due to inability to earn following the illness, and sometimes even to help change the lifestyle of the person when the illness diagnosis has been made.

by James Adam

Things Your Health Insurance May Not Cover (and What to Do About Them)


People

Health coverage in America is confusing. From its earliest days, the American employer-based healthcare system has been full of confusing paperwork and policies that change when you switch jobs.

As an American, it’s important to know what your insurance will actually cover. Being in the dark could cost you dearly. Here are a few things that your current policy might not cover, along with tips for filling in the gaps.

Basics of US healthcare

The 2010 Affordable Care Act made changes to the old system, providing health care “exchanges” and mandating coverage. Then there is Medicare, a government-funded health insurance system for the elderly and some other Americans who qualify, and Medicaid, a government-funded health insurance system for those with limited financial means.

Even after you figure out how to get a policy, there’s more red tape and more fine print to worry about. You’ll have to pay a premium each month and a copay on certain services. You’ll have to know what a deductible is. And most importantly, some things will be covered, and others won’t be.

Healthcare when you’re traveling

Most of the time, you head to a doctor near your home or place of work. You get a check-up, you show them your insurance card, and perhaps you pay a copay — after that, you’re all set. Other times, you see doctors unexpectedly. You may have to go to a hospital near your home or work. But if your insurance has a good local network, you’ll be okay there too.

But what if you’re vacationing in Europe and break your leg? What if you get terribly ill in South America? What then? It won’t be in your network, and your health insurance policy will almost certainly not cover it. That could cost you tens of thousands of dollars.

What you need to do is sign up for travel insurance to cover yourself while you’re abroad. Read unbiased travel insurance reviews, and choose a policy which keeps your mind at ease as you enjoy your vacation.

Dental care

Some health insurance plans include dental care, but certainly not all of them. If your plan doesn’t include dental care, you could end up paying big bucks to keep your smile looking sharp. A simple teeth cleaning can run into the hundreds of dollars!

But skipping those cleanings is not a sensible option. Avoiding dental care now will just lead to bigger problems with your teeth, gums, and jaw later on in life. Those issues will be more expensive to fix, and they may also be a lot less enjoyable to deal with or to treat. You need to find a way to go to the dentist regularly without breaking the bank.

You could wait until the next open enrollment period and switch to a health insurance policy that covers dental work. Or you could get separate dental insurance, which is available on the open market. You pay a premium either way, but you save money on regular teeth cleanings and you’re protected from big bills if you chip a tooth or have a cavity.

Eye care

Many health insurance policies cover eye care to an extent. But plenty of them don’t, or are limited to emergencies related to the eyes. To do something as simple as get an eye check-up or a new contact lens prescription, you could end up having to pay out of pocket.

It pays to check your policy for information on eye care. If you’re not sure what you’re looking at, give your insurance provider a call and figure things out. It’s a good idea to make sure that you have coverage, and to switch to a new policy in the next open enrollment period if you aren’t covered. Especially if you need corrective lenses, paying out of a pocket for eye care can be brutal.

by James Adam

Renewing Car Insurance Policies: Do’s and Dont’s


Business

It becomes easy to get the best deals when you renew the car insurance policy in the proper manner. In this article, we will discuss about some of the important things you should do while buying insurance and other things you should avoid during the process. In this way, you will have complete understanding about the best ways of renewing your policy and this will save you time as well as money in the long run. Not only that, your car will also get the best coverage when you follow the simple tips mentioned below. You can even discuss these tips with your insurance advisor and get customized solutions for your insurance needs. If you do not have access to a personal advisor, you can approach online portals and get the required information. This will help you to save time and you can get complete information about various plans trending in the market.

Things to do while renewing car insurance policy

These are some of the things you should never miss while renewing your car insurance policy. Note them down carefully and follow each one of them to get the best deals for your vehicle insurance renewal. As the competition in the market is very high, there are many plans and this can sometimes confuse the customers and they may choose the wrong plans that are not suitable for their needs. However, by following the below mentioned tips, you can avoid such problems and get the best policy for your car.

Check deals offered by competitors

You should never stick to the same insurance company blindly without analyzing the offers of competitor companies. When you do car insurance comparison, you may be able to spot a better offer that comes at lesser price or offers better features than your existing plan. The easiest way to compare different plans is to opt for online portals that are well known for providing detailed information about insurance policies. It helps you to understand the features of different plans and you can even get to know the rates of all the plans in this way. After this, you can call the executives of the relevant insurance companies and enquire about the features of the plan in a detailed manner. You can clarify all your doubts this way and this will help you to take the best decision about switching to a new insurance company. If you are carrying any no claim bonus from your existing service provider, enquire about what sort of discount you can expect from the new service provider in this regard. If you are completely convinced about the benefits of the new plan, you can shift your policy to the new company.

Check the offer document carefully to understand inclusions and exclusions

Before buying the insurance plan from any company, you should ideally read the offer document carefully as every detail about what coverage is offered by the plan will be written in this document. In the same way, it is also essential to check the exclusions of the policy as this will help you to have clear understanding about the risks involved in choosing such policy for your vehicle. When you choose the cheap option of 3rd party car insurance online, you will get multiple options and it is important to check the policy document about the overall coverage offered for your car. You should follow the same tips even when you are renewing your existing policy with the same service provider. It is important to note at this stage that the features of the policy may change over the period of time and the same policy may now have new features. Enquire about them during your renewal and get to know if this suits your needs at the moment.

Make the best use of no claim bonus

Many people forget to make the best use of no claim bonus as they do not realize its importance in terms of reducing the premium for any policy. If you have not made claims for your previous tenure and your present tenure, you can expect a significant discount on your next renewal. For this reason, you should always mention the details about your claims in the application form so that the insurance companies can provide you with the best quote. If some competitor is ready to offer you better discount considering your track record, you can easily shift your policy if all other features remain the same and if you are satisfied with the services of the company.

Choose online renewal to save time and money

You need not wait for long hours in the queue to renew your policy as there is an option for online renewal. Most reputed companies in the market provide such facilities for the benefit of customers and it even saves lot of time and effort for the staff members of the company. You can use the services of online insurance aggregators and renew the policy effectively in quick time. The portals also provide vehicle insurance calculator option and you can use this to calculate the premium for any policy in the market.

Consider adding additional covers if necessary

Your insurance needs may change over time and you need to analyze this at the time of policy renewal. This is the best opportunity to increase the protection for your vehicle by adding new covers. Even the insurance companies come up with new covers regularly and you can check the latest options suited for your car. If you feel that any additional cover will provide better security for your car, you can easily add them at the time of policy renewal by paying additional money.

Things to avoid while renewing car insurance policy

You should also keep in mind that many people make lot of mistakes while buying insurance policy. It is important to notice them so that you can avoid them in future. Make sure to never make the mistakes mentioned below while buying car insurance.

Avoid incorrect information about your track record

Some people feel that they can cheat the insurance company by hiding details about accidents or other claims made in the past. However, you need to understand that the insurance service providers have a huge network and they can easily trace such false information about any vehicle. Even though this can provide you some relief temporarily with regards to getting discount on the premium, it will hurt you badly at the time of making claims as the insurance companies usually verify the previous track record seriously at the time of awarding any compensation in future. They can easily reject your claims in future citing that you have provided false information while buying the policy.

Never renew the policy in the name of previous owner in case of used car

If you are buying a used vehicle, you should never make the mistake of renewing the policy in the name of the previous owner. You can go for 3rd party car insurance online in that situation and get the insurance transferred to your name if it is still valid. Or else, you can go for the new plan and opt for better features than the existing plan. Remember that you can even carry the benefits of no claim bonus of the previous owner in that situation.

Do not buy it without comparing various deals

It is essential to opt for car insurance comparison as this will help you to save money in the long run. It will also help you to get better features from a new company in most cases. In the event that you are not satisfied with any other option, you can conveniently stick to your existing service provider and renew the policy easily with the same company. On the other hand, when you notice any good deals other than your existing service provider, do not hesitate to shift your policy.

Never delay renewal as late renewal will cost you more money

Many people are careless when it comes to timely renewal and they always notice it after the expiry of the policy. This can cost you more money as the insurance company will ask you to pay penalty for the late renewal. It can also put your vehicle under risk as you will be left without any cover for that duration. Apart from that, there is also a threat of losing the no claim bonus of the previous tenure when you delay renewing the policy.

Follow these guidelines and you can rest assured that you will never go wrong while buying car insurance policy. Take your time while making the decision and never be in a hurry to choose the suitable plan. For this reason, you should always plan your purchase in advance so that you will have enough time to go through various plans and you can compare the features and other aspects of the plans. In this manner, it becomes easy to select the best offer at nominal price and you will benefit a lot by choosing such plans in the long run.

by Incredible Planet Staff

Be Money Smart With Your Insurance Coverage to Save Dough


Lifestyle

Rather than be uninsured or take out minimal coverage that won’t protect you when you need it, be money smart with your automobile, home, life, and other insurance coverage. There are ways you can get maximum protection at minimal cost to you, which leaves you with extra cash to use on other things. Unless you’re an insurance agent yourself, you probably don’t know all the tricks of the trade. Here are a few that will reduce your premiums without sacrificing protection.

Seek Professional Advice

You aren’t an insurance agent, are you? No problem! A local insurance agency has the experienced staff to sit down with you and talk about – well – your life. The agent can discuss coverage options for each policy you need, and he or she can tap you into discounts offered by the carriers through the agency. That’s right. Carriers offer special discounts through agents that they don’t offer to customers who eliminate the middle person. You may realize additional savings through an agent.

Combine Policies Where You Can

Part of what the agent can help you with is combining your insurance policies where you can for added savings. Why pay for auto insurance from one company, home insurance from another, a life insurance policy from a third company, and your business insurance from yet someone else? If you add up all your premiums, you’ll be surprised how much money this costs you each month. Carriers love to cover all your needs, and they’ll offer you significant savings to do so.

Pay Your Premiums All at Once

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Those four separate payments each month are cumbersome, so combining your coverage will make life much easier when you write one check for everything. Did you know, however, that if you pay your annual premiums in one lump sum you save even more money? It might be tempting to pay throughout the year because monthly payments seem more manageable, but paying all at once frees up extra cash later that you wouldn’t otherwise have.

Don’t Go Crazy With Other Expenses

One way to curtail your insurance expenses is to control what you have to insure. You might want a Lamborghini (and who doesn’t), but do you know how much money you will spend to insure it? You might also want that top-of-line home entertainment system, but are you ready to pay the additional home coverage to protect it? The more you have to insure, the more your insurance will cost you, so don’t go bananas. Live within your means to keep your expenses down.

Find Cost-Cutters

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Finally, certain things might reduce your insurance coverage costs because insurance companies love them. For example, a home security system complete with fire and carbon monoxide protection reduces your chances of theft, fire, or other damage, and the insurance company may reduce your home premiums. Buy your vehicles instead of leasing them to reduce your auto premiums. Discuss life insurance as part of a benefits package with your boss.

You don’t have to go to the poorhouse to get proper insurance. There are plenty of ways to insure your life and all that is in it with the coverage you need. You just need to do a little groundwork and reap its monetary benefits.

by Incredible Planet Staff

Business Risks Your Start-Up Needs To Be Aware Of


Business

No matter how much you plan when it comes to setting up a start-up, there are always scenarios where your business could be at risk. The first year of the business is the most important and is often the tell-tale sign of whether or not the business is likely to be successful. Here, we’re taking a closer look at the business risks your start-up needs to be aware of, prior to setting up.

Financial Risks

One of the biggest and most obvious risks for a start-up is maintaining strong finances throughout the first year of business. While it is unlikely that your business will breakeven in the first year, due to the extensive amount of costs when initially starting up, making sure that you are able to cope with the additional pressures on the financial side of your business is important. It is important that you protect your business from any additional financial risk too, such as loss of income, or the possibility of legal fees due to an accident caused by your business’ activities.

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This is especially important for businesses who work around the public, where health and safety can be compromised due to the work you’re carrying out. Each business is able to take out a specific type of insurance, most suitable for them. For example, a cleaning company would be able to take out specific cleaner insurance, and an electrician would be able to take out unique tradesman insurance best suited for them. Make sure you are prepared for every scenario in order to help minimise business risk.

Market Risk

No matter what you’re looking to sell, whether a service or a product, the market risk is one of the biggest considerations. If the market is slowing down and people aren’t purchasing your products, then you will need to ensure that you have some form of a back up plan. Make sure you have thoroughly researched all of your market opportunities prior to setting up, as this will provide you with a gateway into seamless transactions. Even if your initial customers are consistently purchasing from you, keeping an eye on upcoming competitors will help to ensure that you maintain your slice of the market share.

Legal Risks

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Alongside the possibility of having to deal with a member of the public making a legal claim against your business, there are a number of other rules and regulations that you will need to take into consideration. These will vary from industry to industry, with construction businesses, all companies will have to register under the Construction Industry Scheme (CIS). In addition to this, there are various internal regulations when it comes to hiring staff that you will need to keep in mind, labelling requirements, advertising rules and much more. Health and safety regulations are subject to change on a frequent basis also, so make sure that you keep this in mind.

With so many risks to consider, having a business plan which is thorough, but also flexible in order to encompass the changing legal and market landscapes, will help to ensure that your business is prepared for any event in order to succeed.

by Incredible Planet Staff

Stop Putting It off! How to Know It’s Time to Get a Will


People

Due to their association with the inevitable, wills aren’t the most pleasant things to think about. People hardly want to even discuss them. However, it’s something that you’ll likely need to have eventually. After all, everybody dies. That’s sad to say, but that’s the prime reason why something this serious should never be put off. The sooner you get started on your will, the better. Here are a few points for you to consider so that you know it’s time to get a will.

Are You at Least 45 Years Old?

You may have heard the term, “You are now over the hill.” Basically, this means that you have reached the point where you have lived half your life already and are considered to be aging. You might be in denial about this and want to be only as old as you feel. However, as you advance in age, you need to think about the future seriously.

Even if you’re still relatively young (and nowhere close to being 45), you should make a will. We didn’t come to this earth with an expiration date, and so death can come when we least expect it, and so t’s a tremendous disservice to your heirs to avoid making a will.

Are You Prone to Illness?

As people age, their bodies get weaker. During this time, you’ll find yourself more prone to illnesses. Even if you recover from these, you should still be aware of your mortality. Take into account your recent medical history. Have you been going to the hospital frequently? Are you taking more time off work? Be honest with yourself about your health when realizing if you need a will.

You should also take into account your genetic history. Do you know what age your ancestors typically lived to? Do you know if any of them died from any diseases that you may be at risk of getting?

Do You Have an Heir?

If you have a child, it’s important that your will be in place soon after he or she is born. After all, if something were to happen to you, you’d want to have a say in who ended up raising your child. If you have multiple children, this is an especially important thing to consider. If you don’t have a relative or friend who can take in all of your kids, then you’d want to plan who went where ahead of time.

If your children are adults, then it would be best to divide your assets and not leave the decision making of who gets what for everybody to fight about after you pass.

Do You Have Many Assets

The depth of your will depends on how many heirs and assets you have. You might have a substantial net worth to divide. You might also have valuables such as cars to share. Take inventory of everything valuable you own. Assess the value and determine who it should go to. You should also be speaking to your executor as much as possible. Ask them for their best advice regarding the situation. It’s important to hire a professional, such as those with Penguin Insurance Services Inc, who has a thorough understanding of inheritance. Schedule a meeting between yourself, your heirs, and your executor before you pass.

There’s no such thing as starting a will too early. By beginning early, you can reduce anxieties about procrastination. Even if you don’t pass for decades, you’ll be glad you got your will now.

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by Incredible Planet Staff

3 Issues You May Run Into with Your Insurance Company & What to Do


Business

Insurance can seem like it is the perfect system. After all, it is very beneficial to you and can help you out of tight financial bind. If something goes wrong, be it a medical emergency or car accident, you’re covered. At least, that’s what you expect, right?

However, it’s not always going to be as smooth of a process as you might think. In fact, there are all kinds of situations that you should be prepared for. Here are just three such issues that you could possibly run into and what you should do if that happens:

Extra Coverage

If you’re the type of person who doesn’t like to read the fine writing and just sign away, then know that that could get you in trouble and you should make it a habit to read absolutely everything that you sign your name to. It might sound like a pain, but you need to read your insurance policies as carefully as possible.

It may include language that you don’t understand, which is why you should do some research and ask questions before signing any policy. The language used could possibly relieve the insurance company from paying in certain cases that you need to be aware of. Take a close look and see how your policy could leave you paying for too much. If there are too many negatives, consider ending your relationship with the insurance company and switching to another one before emergency strikes.

Value Discrepancy

There are some things that are seemingly priceless, such as your safety or life. However, insurance will put a value on these things. It might be much lower than the one you want. For instance, if you have insurance for your home and something happens, you’ll use insurance for repairs.

Unfortunately, the payout from your insurance might be much lower than the cost of repairs. Take a look at your insurance policy to ensure that it covers you to the fullest extent. If you think your policy is unfair in light of your expenses, have an insurance appraiser take a look.

Claim Denied

Having your insurance claim denied can make you feel pretty dismal. You might be envisioning a worst-case scenario where you’ll have to pay for everything out of pocket. However, you can certainly work your way through this by taking action. Call your insurance provider and ask them for a detailed reason why your claim was denied. Have all the necessary documents and other relevant information within reach.

If you are having trouble getting them to budge, you might need to take legal action. Call an attorney who’s experienced with insurance and related matters. Explain your case to them and what happened with your first attempt at filing a claim. They’ll hopefully be able to work with you and help you get the compensation you deserve.

When submitting an insurance claim, make sure that you do everything properly. Tell the truth and give all the necessary information. Should you have any trouble, this guide will be of assistance to you.