Car Insurance: Are you Covered?

The best car safety device is a rear-view mirror with a cop in it. ~Dudley Moore (1935-2002) Whether you own a unique sports car that you tuck safely in the garage every night or you drive a worn out hand-me-down, the laws in your area probably require you to have car insurance. You'll likely need a certain amount of mandatory coverage with the rest tailor-made to suit your needs. How does car insurance work? Generally, the payments or premiums we pay cover the losses of a few. The premiums you pay go into a large pool. Since there are more people contributing to the pool then there are using it, car insurance companies always have enough to cover your claims. In fact, most companies have their own insurance protection in the event that there might be a large surge of claims to cover. Unlike other forms of insurance, your premiums don't build up over the years. Car insurance runs for a year at a time. One reason for this is so that the providers can keep track of annual premium payout needs. Insuring companies collect a lot of data about drivers and vehicles. What does car insurance cover?Property coverage: Although not usually required by law, it's wise to have property coverage. Car insurance property coverage can pay for damage from accidents, theft and fire.Liability coverage: This area of your policy covers the cost of injuries to others or damage to another vehicle. Medical coverage: A serious car accident can mean long-term rehabilitation. You might want your car insurance policy to include coverage for lost wages and funeral expenses. It's important to read over your car insurance contract to know what losses you would be entitled to claim for. Have your representative explain things to you and don't be afraid to ask questions. Car insurance costs What sort of things will affect the cost of your coverage? Location, for one. If you live in an area that is mountainous or has severe weather conditions throughout the year, your car insurance may cost you more. Just ask any young driver- they know that driving history plays a large role in determining costs. The good news is that if you go through the year without making any accident claims you could qualify to receive safe driving discounts the following year. There are some practical steps you can take to lower your premium costs. Most car insurance companies will reward drivers who use anti-theft devices. Having an alarm or immobilizer installed could help. Another step you could take involves claim deductibles. The deductible amount is the amount the driver is responsible for on a claim. If you are willing to increase this amount, your payments will be lower. Some companies offer lower rates for new customers. If you are in the habit of always using the same car insurance broker, why not look into signing on with a competitor? There is always a bit of flexibility in premium rates. Just remember, if you are ever in an accident you'll be glad to have the coverage.
Car Insurance
By: Maxim Garanichev
http://nationwideinsurance.blogspot.com/

Top 5 Ways To Save Money On Your Life Insurance Policy

Life insurance is a very important type of insurance policy, and enables us to provide our loved ones with valuable financial security in the event that we die unexpectedly. Life insurance is designed to pay out a lump sum to the named beneficiary in the event that we die within the term of the policy (subject to exclusions and conditions), which gives our loved ones one less thing to worry about at an already stressful and upsetting time.There are different types of life insurance available, and a choice of levels of cover depending on your needs and circumstances. The cost of life insurance can vary based on factors such as the level of cover taken, your age, your medical history, your gender, and your lifestyle. There are certain factors that can really push up the cost of life insurance, and making some changes can help you to keep costs down considerably. There are a number of steps that you can take to try and keep life insurance premiums down:

1. Give up smoking. If you are a smoker you will be classed as a high risk customer to a life insurance policy, as the chances of contracting a life threatening disease, such as cancer, are vastly increased. By gibing up smoking for at least twelve consecutive months you could enjoy a healthier lifestyle, save a fortune on the cost of cigarettes, increase your life expectancy, and reduce your life insurance premiums

2. Improve your diet and exercise. Anyone that is seriously overweight will also be classed as an increased risk to life insurance companies, as this is a condition that can bring with it a number of serious and potentially life threatening problems, such as increased risk of heart attacks. By making improvements to your diet and stepping up the exercise you could start enjoying a better lifestyle and you could reduce the cost of your life insurance premiums.

3. Turning veggie could help! Although vegetarianism is not something that all life insurance companies take into account when setting your premiums, there is now life insurance available that offers reduced rates to those that are vegetarian or that eat only fish.

4. Make sure you compare a number of policies. Cutting the cost of your insurance cover isn’t all about your personal circumstances and lifestyle. You also need to remember that the cost of cover can vary widely from one insurance provider to another, so make sure you take the time to compare a number of policies and see which one offers the best value for money.

5. Choose the most affordable policy. The cost of your premiums will also vary based on the type and level of cover that you take. For instance, term life insurance cover will be cheaper than whole of life insurance cover. Select your policy based on the amount that you can afford to spend on premiums, but do be careful not to underinsure, as you could otherwise end up paying premiums on something that your loved ones will not really benefit from ultimately.

By: Arthor Pens

http://nationwideinsurance.blogspot.com/