That depends on what you mean. If you mean that you are garaging your car because you’re going on an extended vacation, then you might be able to get a discount on your car insurance since the likelihood of being in an accident goes down quite a bit if you aren’t actually driving a car. If you mean will you get a discount because you park your car in your garage, then no. The only exception to this would be if you have a classic car and classic car insurance. In that situation many classic car insurance companies offer discounts if you protect your car in a garage.
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Posted by Gabriella Hopkins | February 16, 2012
Will having my car garaged cut down on my insurance costs?
Posted by Victoria Milson | February 05, 2012
Top Ways to Save When Buying Life Insurance
Buying life insurance is a big step in your life. It also means you have created enough success that the people who love you can depend on you, and will be affected in many ways if you pass on. Life insurance gives your loved ones and dependents the gift of security. Given the benefits that it offers, life insurance is a relatively simple product to understand and buy. Here are a few tips to make buying life insurance easy and affordable:
- Buy the right kind. Insurance comes in a number of different types. Do you need whole life, universal life, term life or some variant? For most people, term life insurance will give them the most protection at the lowest cost. Term insurance covers you for a given period of time, or term. For instance, if you know that you will be working for another 15 years, buying a 15 year term policy will cover your family in case you die and stop earning.
- Buy sooner rather than later. For term life insurance, the lower the chance you will pass away during the term of your insurance policy, the lower your rate will be. If you buy while you are younger, the premiums will typically be lower.
- Buy the right amount. One good starting point when buying life insurance is to purchase enough to pay off all of your debts and to replace your income.
- Get in shape. Ultimately, life insurance is a bet on your life, and the insurer is betting that you will outlive your policy.
Posted by Mikayla Stevenson | January 10, 2012
Brits conned by travel insurance ‘get out’ clauses? You’re safe with us.
Some travel insurance companies are in the news for all the wrong reasons. A number of British policyholders are furious with their insurance providers and have complained about being cheated by medical ‘get out’ clauses.
Knowing exactly where you stand with a travel insurance policy can be tricky enough, without media reports of customer complaints and suspected wrongdoing. So here’s a quick explanation of the disagreement as well as clear guidance on where you stand when you get cover with World First Travel Insurance.
What’s the fuss about?
Travel insurance policyholders have been complaining about insurers changing the terms of policies, after they have been sold.
Basically, some insurers are walking away from customers whose personal conditions change between purchasing their policy and going away on holiday (if they are diagnosed with a medical condition, for instance). It’s argued that some insurers use ‘ongoing medical warranties’ or ‘change of risk clauses’ as a get out if they no longer wish to insure the customer. This despite the fact that a customer cannot get a refund from their insurer on a policy if they wish to cancel it after the 14 day grace period.
It’s an issue that has not escaped consumer watchdogs
In a recent travel insurance survey, consumer group Which? found that nearly a
Posted by Victoria Milson | December 31, 2011
Study In Peace with College Student Health Insurance
Health insurance for college students is especially useful for those who enroll in college after a few years of graduating from school, and their parents’ health insurance plan ceases to be effective. It is also useful if the college or school is outside the student’s current HMO/PPO region.
Coverage is typically like a long-term health insurance plan, and covers regular check-ups and scheduled visits to the physician. However, all types of dental care may not be covered under all student health insurance plans. While a student, insurance is the last thing on one’s mind.
However, it is important to be covered adequately, as any mishap during college can be devastating not just on the pocket and mind, it can also be disastrous on the mind, unless college student health insurance covers most of the costs.
Posted by Gabriella Hopkins | December 04, 2011
Why car insurance premiums are on the rise
Ontario is set to unveil no frills car insurance coverage that while cheaper also limits benefits.
Ontario drivers have good reason to be suspicious about the cost of auto insurance.
We are causing fewer collisions, and being robbed, vandalized and stone-chipped less often.
The cost of repairing collision damage inflicted by others did rise about 6.9 per cent over four years, compared with an overall price inflation rate of 6 per cent.
Yet far more us claimed to be injured and in need of hands-on care, financial assistance and relief from the day-to-day grind of returning to work, caring for children and keeping homes and lawns tidy.
Industry-wide insurance figures for 2010 indicate the number of claims for accident benefits — by both those innocent and at-fault — were 28 per cent higher than in 2006.
What’s more alarming is the cost of compensation, including insurers’ cost of administration, rose by nearly 71 per cent.
The combined effect of a 17,498 increase in claims and a $23,239 increase in the average claim cost equaled about $350 for each of the 6.6 million privately owned passenger vehicles, excluding those of farmers.
Motorists didn’t actually pay the full $2.4 billion increase in costs. If they had, their insurance premiums would have had to been higher by at least $925 million or $140 per car.
So insurers saw a steep drop in profitability. Hardest h
Posted by Admin | November 28, 2011
What you need to Know about Variable Universal Life Insurance
Variable universal life insurance is a sub category of permanent life insurance. Since this is also a permanent life insurance, policyholders’ beneficiaries are entitled to death benefits in case of unfortunate event or in other words the policy holder dies. A portion of your premium goes to the death benefit and the some portions of it go to the cash value. As time goes by, the cash value builds up enabling you to have funds that you can borrow from in the future or adding more value to your death benefit.
Now, the difference with variable universal life insurance is that the cash value can be invested in money market, stock market and bonds. As the money market, continue to increase, your cash value increases as well. This is probably the most substantial benefit of variable universal life cover as it allows you to invest your money in a series of account that you can specify to boost the value of your money in the long run. So unlike fixed type life insurance, with variable universal life insurance you can invest your money and potentially profit from it big time. The best thing about this is that insurance companies can give you the payout before death.
Drawbacks of Variable Universal Life Insurance
There are two drawbacks of variable life insurance. First, the premium is relatively higher than any other types of life insurances. T Read more…
Posted by Gabriella Hopkins | November 19, 2011
Why is SR22 insurance more expensive if I already had full coverage?
What is driving up the cost of your insurance is the violation that resulted in the requirement to file SR22 insurance. Usually a state will require that you file SR22 insurance if you’ve:
• Had a DUI
• Been driving without insurance
• Are a habitual offender
• Reinstating your license after a suspension
All of the above are classed as high-risk behaviors or are the result of you being a high-risk driver. Therefore, the insurance company increases your premium to reflect that fact.
Posted by Victoria Milson | November 19, 2011
Life Insurance Myth #2: My Work Covers Me; I Don’t Need Additional Life Insurance
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As the second in our series of posts on life insurance myths, this is another of the most common misconceptions consumers have when it comes to term life insurance coverage. Many people think that their family and/or loved ones will be provided for in the event of their untimely death, as they have life insurance coverage through their employer.
While people may claim that they do not need life insurance because they are covered at work, most will also admit that they have never actually reviewed their term life insurance coverage and do not know whether it will meet their family’s financial obligations and needs should they die. This is particularly alarming when considering the debt that the average American carries. Between credit cards, school loans and mortgages, many Americans carry thousands of dollars in debt; debt which is left behind for family members to repay in the event of an untimely death.
So how do you determine if your term life insurance coverage is enough?
Life insurance is intended to help with a number of things: covering funeral expenses, paying remaining debt and providing daily living expenses for surviving dependents, just to name a few. In order to det
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