The world is beginning to change with more states now either considering the legalization of gay marriage or actually allowing it. No matter what your views on the institution of marriage and who should be allowed to marry, there remains one unalterable fact. Even though the marriage vows quite clearly intend the couple to stay together for life, the majority of marriages end rather earlier. Some relationships end and the couple lives apart. Others get into the business of divorce and all the decisions about who pays for what and who should end up with the pet snake are written down and rubber-stamped by the judge. This is the way the world works and, to protect ourselves, we should all think about the auto insurance cover during the break-up period.
The insurance industry works by predicting the odds of an accident. When the risk of a claim is high, the premium rates rise. So, when it comes to insuring the family vehicles, it’s fundamental for the insurer to know the who, when and where: who will be driving, at what times of the day, and where most of the driving will be done? If there’s to be any significant change, you are required to tell your insurer. If you fail to do so and a claim is later made, the insurer can cancel the policy and refuse to pay out. So as soon as you separate, you should notify the insurer of change of address and whether this will affect who drives the vehicles.
Most states have a requirement you notify insurers within 30 days of a divorce. The reason is simple. Most insurers offer between 5 and 15% discounts to married couples. The risk profiles show married couples are more responsible drivers, particularly when they are driving their children around. The majority of couples also bundle their cover. They may have multiple vehicles on the same policy or have both a homeowners and an auto policy with the same company. On average, these bundles will be saving you 10%. So the moment you have two households and park the vehicles in different ZIP code areas, all your auto insurance rates will change. Unfortunately, failure to notify your insurer almost always means your policy is going to be cancelled the moment the company finds out. Trying to recover premiums paid is a nightmare. Always keep your insurer informed.
Having just seen the terms of the latest budget, it seems the Coalition is determined to continue the period of austerity with many pensioners facing increased taxes. Doesn’t it seemto you that this is loading up those who can least afford it with additional costs. Another regulation proposal is to impose a minimum price per unit for alcohol, so we are denied the chance to drown our sorrows at a fair price. Let us see how do the trends in the insurance market influence the financial progress.
Car insurance and the trends proposed
The first answer comes with the latest premium rate survey from the AA. Last yaer, there was a fiften percent increase over the last twelve months. As from December of this year, this is going to get far worse as the equality ruling from the European Court forces a rise in premiums for women drivers. The hope comes from the growth in the telematics market. There’s increasing evidence the black boxes are being adopted by older drivers. In the first quarter of 2012, almost fiften percent of all policies sold were based on the new technology, and a recent survey shows almost 60% of drivers over the age of 55 are planning to switch. Given the hit many of the pensioners will be taking on the tax payable on their pensions, this could produce very attractive savings. As and when the rate rises for women are imminent, we can expect to see large numbers moving over. Why should this happen?
Well, it gives the driver more direct control over the rates. The more safely we drive, the less we will pay. It’s ironic that this will almost certainly become the dominant form of policy because of equal opportunities. The technology ignores the sex of the driver. The sole measures are when, where and how the vehicle is driven. Some insurers literally charge drivers by the mile. Others operate a points system with more points consumed if you drive at peak times or late at night.
The Co-operative then offered top judge one’s driving over a 90 day period and refunds a portion of the premium paid if you have driven well. Needless to say, if you drive badly, you have to pay more. What you could do is always compare prices for insurance from multiple companies. Some older drivers and women may find no savings or higher premiums because of the terms of the telematics policies. It is also important to look at what no-claims bonus you have and how big a excess you’re prepared to accept. That said, low mileage drivers will usually find there are features to the back box policies not available on the conventional policies.
We’re entering a time when there will be some confusion in the market. Even now, there are many products and choosing between them is not easy. Remember everyone is searching for cheap car insurance so keep talking with friends and monitoring sites like this with up-to-date news. Making the best decisions on car insurance rates without advice can be a challenge.
The whole point of any insurance deal is to shift the risk from your own pocket to the pockets of all the other insured. Spreading the costs among a big pool of other businesses reduces your own payments. But the main issue is always going to be the way in which the insurer values the loss if and when you make a claim. Although it’s an obvious statement that you do not want your own business to pay for replacing property used in the business, exactly how do you ensure the premium is less than the cost of replacement? Or, put the other way, that the sum you recover represents the loss you have suffered? In this calculation, there are three factors. One will be an assessment of the actual cash value of the individual items lost or damaged. The second will be the replacement cost. The third will be an assessment of whether there has been any other loss flowing from the loss of the individual assets.
The first can sometimes be termed a fair market value. The formula for calculating it will be the price paid less the depreciation. So, for example, your business may use a truck for delivery purposes. For tax purposes, you will be allowed to write down a percentage of the truck’s value every year. So, if the vehicle is seriously damaged, the actual cash value would be the book value measured against the average prices in the secondhand market for vehicles of a similar age. This reflects a basic truth that the standard policy will not buy new for old. As a general rule, you cannot make a profit out of the business insurance policy. If you got a new vehicle for one that was three-years old, you would be benefitting unfairly, particularly if the manufacturer’s price had increased over the three years.
The second formula simply pays out the cost of replacing the property. This is potentially a better deal. As an example, take the loss of stock whether as raw materials or for sale. Suppose you have a store of clay for making pottery. You want to be in no worse position so want the insurer to replace the volume of clay lost even though the price may have risen in the local market. It would be the same for any manufactured stock held for sale. Whether you manufactured it or bought it in, you need to replace it. Often this type of stock is circulating and will not be subject to depreciation so paying the extra premium rate for replacement may be better value.
Finally, has the business suffered other losses because the property was lost? Consequential losses are always a difficult area and this is something you need to discuss with your business insurance advisor. Say, for example, you are in a supply chain and subject to penalties if the parts you manufacture are not delivered on time. The next batch is destroyed in a fire and the penalty is applied. Now your loss is the cost of replacement plus the amount of the penalty. Business insurances is all about balancing the cost of the premium against the security you buy. Make sure you understand how the insurers value loss before you sign up for your next policy.
The world has been changing vary fast, not letting us always to realize it. Back in in 1908 when the Model T first rolled out on to our roads, the noise really did frighten the horses and you could hear those cars coming from a big distance. Now modern can roll up behind you without you noticing anything. The engine of 21st century is a miracle of silence and speed. Ironically, we have almost arrived at the level of noiseless travel where the old Rolls Royce promise would come true. One hundred years ago, the ads said the loudest thing you would hear was the clock ticking. Now with digital clocks there’s no ticks to disturb the peace. And wherever you look it seems the advancing technology has altered the world completely. It can be in the design of the suspension and braking systems to produce safer handling. You should be surprised at the way the body crumples in a collision to absorb the impact and reduce the injuries to those inside though we usually take it as it stands to reason.
If only the investment of all this intelligence into the design of our vehicles produced cheap auto insurance rates! Well, in one sense, this is already happening, but not always. The insurerance companies work with the government in agreeing the standards for crash-testing the current range of makes and models. Those which do the best are awarded lower rates. If you follow the government recommendations you can benefit safety premium on the safest vehicles. There’s just one problem. This new technology is not yet really cheap. Some of the safest vehicles are actually more expensive to insure inspite all cause of the higher maintenance and repairs costs. Thta’s a greta idea to absorb the force of an impact by having body panels crumple. But again, after even a relatively minor collision, it can require the replacement of more bodywork at biting prices compared the old-fashioned vehicles. The cost is going to gradually fall of course with the market growth and mass manufacturing reduces the cost of spares. But, until then, the benefit of cheaper rates is not something real.
Another achievement of the technology is the ability for the vehicle to drive itself. Radar systems are put into more automobiles .The Japanese have gone one step further with the Lexus LS 460L that will take all the pain out of parallel parking. Manufacturers are looking to apply technology to freeway driving. All it would take is a wire running down the center of each lane and you could have hands-free journeys. Although it would require trusting our lives in the technology, the risk of accidents on long journeys significantly reduces.
It seems such advances will lead us to cheap auto insurance tomorrow as the drivers are slowly replaced by computers. So it is long-term planning to focus on buying the safest makes and models you can afford and look forward to the auto insurance to lower and keep you happy.
Many car owners don’t know that their insurance rates are affected by a factor that seemingly has nothing to do with auto insurance at all. Credit rating is used by many (but not all) insurance companies as a factor when calculating rates. And while this may seem as lacking any logic from the customer’s point of view the insurance companies have a perfect explanation to using your credit score when determining your rates. Moreover, they aren’t breaking the law in any way by using your credit information without your consent and knowledge. Let’s learn how is that possible and what consequences your credit score may have with respect to insurance.
Insurance companies have the right to access your personal information including the insurance record until they agree to not disclose this information to any third parties. So don’t haste filing a court case since its perfectly legal for insurers to do so. As for the purpose of doing so the insurance companies sure have one even if you may think otherwise. But you will have to start thinking as an insurer in order to grasp the importance of credit score from this perspective.
The most important thing for insurers is assessing the risk of covering each client that opts for auto insurance. If the risk is low then they can offer lower rates as to reward the low probability of a claim from such a client. If the risk is high then they will charge higher rates as to cope with the costs involved with a higher probability of a claim. And the insurers will use any piece of information that will help them evaluate their risks no matter how strange it may sound for consumers. Statistically people with lower credit scores file more insurance claims whereas customers with higher scores file less claims than the average. So it’s logic that the insurance companies will adjust their rates according to this observation and use customers’ credit scores. But what if you’re not satisfied with how your score may affect your rates?
There are two options for you to consider. The first one would be improving your credit rating by reviewing your report and eliminating any unused credit lines and debts if possible. It will certainly take more time but the effect will be more profound as there are more benefits to a good credit score than just affordable auto insurance. The second option is finding a company that doesn’t use credit scores when calculating their rates. Though the majority of insurers do, there are still plenty of company that don’t, so you would want to stick to those providers.
Insurance by definition is something to minimize the financial impact of a particular peril. So and if there’s something that may damage your car you can rest assured that there’s a special coverage option available for this matter. Of course, by adding additional coverage options to your policy the price of it rises. However, for some situations it really pays to get an expensive policy in the first place rather than having to pay for the damage done out of own pocket simply because you didn’t want to buy the special type of coverage. So what are the most interesting additional coverage types one should look into?
Uninsured/underinsured motorist plans
Seeming exotic perhaps to this insurance plan is useful if you’re living in an area with many vehicles on the roads. It is estimated that there are thousands and even hundreds of thousands motorist driving without any auto insurance at any given moment in our country. Either their term has expired and they didn’t manage to renew the policy or have chosen to drive without coverage at all, the outcome of an accident with such a driver will be the same – lack of other party’s insurance to cover your damage. Uninsured motorist coverage acts as the other party’s insurance company and pays for the damage inflicted to your car in case the other driver was at fault. It is especially useful in cases of hit-and-run accidents, which aren’t very rare these days.
Comprehensive auto insurance
Unlike colligion comprehensive type of insurance covers damage caused by circumstances other than collision including fire, theft, vandalism, earthquake wind, rain, explosions and many others. And while all these perils can be a very common cause for car damage it really makes sense to purchase comprehensive coverage. Just don’t assume that this coverage option won’t provide protection for just any peril and read carefully all terms of your policy to see what’s included and what’s not.
Coverage for special perils
This is a specialized coverage designed for a particular situation. For example, your area is largely affected by tornadoes and the local insurers do not offer tornado coverage as part of comprehensive coverage. This means that you will have to buy tornado coverage separately. The situations which may require specialized auto insurance coverage vary from state to state and from to district so check you are buying what is exactly relevant to your driving situation. Let’s agree, buying earthquake coverage while you’re driving in areas with no earthquakes doesn’t make much sense. To get the coverage both adequate and affordable, make sure to keep the coverage as relevant to your needs as possible.
Recent survey done by gjobs.co.in shows that over 70% of Indian youth applies for sarkari naukri (government jobs). Recent financial recession has caused many people lost their jobs that were employed in private companies and now faces uncertain future. On the contrary sarkari nukri is much more stable and reliable as well as gives you financial protection and security.
Many people would argue that government jobs have lost their craze as now many multinational, international companies are outsourcing and moving their business in India and also paying good reasonable salary with protective future and pensions. I would not disagree with this at all. This is true, but we all have just recently gone through big recession. Although the effect of financial recession was not great in India but still we saw many had lost their jobs and become unemployed and face uncertain future with no jobs. This led to uncertain and unprotected future of the person and family
On the contrary, Government jobs in India offer promising future and reasonably high salary. Sarkari naukri are most secure and reliable lifelong employment and provides protection to not only you but whole family. In unfortunate circumstances like we have already discussed in above paragraph and medical emergencies or even worst death of the employee, sarkari nukri provides replacement jobs to the family member and supply with protection of the financial condition of family. Government employees are also eligible for many other entitlements in a year like holidays package for family, housing facilities, retirement benefits, job security, all eligible govt holidays and much more.
If we are to compare government jobs with privet sector jobs, sarkari nukri always attracts and will continue to attract people attention. With the comparison with privet jobs, sarkari jobs have much less hours of working approximately all government jobs (bank jobs) have around 7-8 hours a day and have many sick, annual and other entitlement leave in a year. On the other hand privet jobs require longer hours of work and will require in future and comparably hard work with no or minimal entitlement of sick or annual leaves.
As this date, government jobs are still popular option for people in India because of the security, salary and entitlements it has to offer to the people. You can find government jobs in many classifieds website or at gjobs.co.in
In a country where owning a car is more of a necessity rather than a choice, especially if you live in a typical suburb, a new trend of customizing vehicles has rapidly become a distinct fad. Partially due to the popularity of numerous TV shows that highlight the most radical and impressive customization projects that turn typical car models into unique rides and partially because of the common strive for individuality in the modern world filled with mass-produced objects that look all the same, customization has become very popular in America. Yet with all the bells and whistles that a trip to the custom shop will deliver there’s a little bit of a headache also involved. And it’s not the bill, although it can get a good bite of your wallet. We’re talking about car insurance, which can become a problem right from the moment you put a custom spoiler on your car.
You may be very surprised to learn than even a minor customization can cause problems with your car insurance and put you in risk of being denied coverage altogether when filing a claim. Sure this seems unfair from the customer’s point of view but let’s get to the other side and take a look at the situation from the insurer’s perspective. When you get car insurance quotes for a particular car make and model the insurer uses a lot of different factors as well as statistical data to calculate the costs of insuring your particular car and the odds of you filing a claim. This is done to give you car insurance quotes that will fully reflect the insurance company’s interests. The costs of insuring your strongly rely on repair costs the repair shop which the insurer works will give for a particular car. These costs are based on the factory setup and will replace the broken parts with the original or OEM ones.
So what happens when you decide to tune up your ride with new wheels, custom leather seats, engine improvements or a fad stereo system that costs several thousand dollars? From the insurer’s point of view you simply breach the provisions of the policy by altering the actual market value of the vehicles and also change the risk factor involved. This is especially true if you’ve altered the dynamics of your car by making it faster or otherwise change its performance on the road. And don’t forget that the custom parts usually cost more than the default ones so you won’t be able to replace them were your car damaged. So it simply looks like getting a contract for one car and delivering another one to the repair shop instead. No wonder why insurance companies aren’t very happy with custom cars.
But don’t worry, this doesn’t mean that you’ll always have problems with customizing your car from the insurance perspective. You’ll just have to inform your insurer about all the changes, even the minor ones, you perform on your car in order to recalculate your car insurance quotes and rates. As long as the company has accurate data on your vehicle you won’t have the risk of being denied coverage in case of an accident after customization has been performed. Simple as that.
Owning a classic or retro vehicle is certainly a great thing especially if you love cars and appreciate the history of this industry. There are countless classic car appreciators and enthusiasts all over the country many of which devote their time and money into restoring and repairing old cars. The beauty of a vintage vehicle that has been returned to its original functioning state or taken on a new level with better equipment used in them running the roads is definitely rewarding both for the car owner and the people who see it. Yet there’s a bitter pill to swallow when you own such a car as well since getting car insurance for a classic or vintage car can be challenging at times and may require you do be more picky about the insurer to buy from.
It’s not that ordinary car insurance providers don’t service vintage or classic cars – they actually do. Still you will have to go to an independent appraisal service in order to determine the actual value of your vehicle as opposed to its market value (that diminishes with time and is rather low with vintage or classic vehicles). After getting an appraisal that takes into account the money and work invested into restoring the vehicle your insurance company will issue the requested policy with the amount of coverage you needed. The problem is that if anything happens to your car they will send it to a typical repair shop that will certainly lack the equipment and staff that would be able to adequately repair your vehicle. That’s certainly off-putting if you have spent hundred of hours in the garage and don’t want anyone to ruin your whole work. If that’s the case you should look for a specialized car insurance provider.
Specialized car insurance companies are present in all states. And while having less customers which usually leads to higher car insurance quotes they are known to offer adequate services and have vintage car repair experts at their disposal. Of course shopping around also makes sense with such companies as they will give you the chance of getting a cheaper policy but since there are less customers involved there won’t be such a prominent difference in the rates you’ll get from different providers.
Still no matter what type of insurance company you choose to get your policy from there will be certain limitations with your coverage. One of the main limitations is your yearly mileage that should be rather low. Another important requirement is the storage conditions of your vehicle as it should be kept in a garage. But since most vintage and classic car owners don’t use their cars as ordinary everyday vehicles that shouldn’t be a big problem. Taking that such cars are mostly used on special occasions and often get delivered to fairs and expos with special trailers such rigorous requirements won’t be off-putting as for ordinary vehicles. So it really depends on the extent of work and the special requirements you would have towards the expertise of repair shop workers when choosing an ordinary or specialized insurance provider.
As car owners and mandatory insurance company customers we all know that comparison shopping is crucial for finding affordable policies for our cars. Every now and then we are forced to start comparing quotes from different providers simply because it gives us a chance to get a policy for the lowest price possible. Sure, this method gives certain benefits and delivers a significant money saving potential. However it is really important to use it right and most important at the right time. So let’s learn a bit about proper timing when it comes to shopping around for auto insurance in order to avoid making unpleasant mistakes.
Most of us remember about renewing the insurance policy when the term has already passed and you have no choice but to renew the current policy with your current provider. Comparing car insurance quotes as this point doesn’t make any sense because it will be a simple waste of time. Sure, if you’ll manage to find a good deal you can cancel your current policy and buy a new one. However don’t be surprised to get a higher rate with your new policy after buying it because your old provider will make an entry about your late cancellation and other providers will know about it. And that’s definitely not what you want when comparing car insurance quotes in the first place. It’s all just a matter of right timing when shopping around.
The best time for doing your comparison shopping is several weeks prior to the renewal date of your policy. You can actually cancel your policy in 30 to 45 days before the renewal date (depending on your provider) without receiving any penalties. So this is the best time to shop around for a new policy. If you happen to find an offer that is more competitive you should closely study its contents, buy it if it really suits you and notify your current insurance provider regarding policy cancellation. Don’t do it without buying the policy or after the renewal date comes because you either risk being uninsured for a period of time or ending up with a penalty for breaching the contract provisions of your old policy. You may think that several days without proper auto insurance won’t be much of a problem since you probably don’t use the coverage at all. However it may happen that during this period you will have an accident and will be forced to cover the costs out of own pocket. Do you want to take such a risk upon yourself?
Comparing car insurance is definitely one of the most effective ways to get a good policy. And it’s really simple these days with all those sites offering free quotes to compare. Just make sure you get the quotes from companies working in your state and that you’ll buy a policy only when the right time comes. This way you can save a lot of money on insurance rates so it’s in your own interest to be calm and precise when doing it.