Auto insurance » Insurance

Diamond Ring Insurance

admin — Mon, 28 Jun 2010 05:21:11 +0000

If you are lucky enough to have received a diamond ring for engagement or just a gift or are considering purchasing one for someone then it is worth looking into insuring such a precious stone.

Many people forget the importance of insuring a diamond ring, what can be worse than falling in love with a ring and something happening to it, whether it is lost or damaged if the ring is not insured then the costs will have to be forfeited by the owner, If the diamond ring was expensive then you may find your self in a situation where you simply can not afford to replace or repair the ring.

Diamond ring insurance is not as simple as you may think, most insurance companies will not just cover the item on your normal policy, some may cover jewelry for theft but not for other circumstances where by the diamond ring has become lost or damaged.

Most insurance companies will allow you to purchase additional insurance for fine jewelry and your diamond ring however there are a few questions you should ask before taking out this addition to your existing policy.

1st and most importantly you will want to know how much the insurance will cost. It is also wise to ask how this will affect your policy should you need to make a claim for your diamond ring.

2nd ask if an appraisal needed to cover your diamond ring and if so would these need to be provided by yourself by specific appraiser or will your insurance company take care of this for you.

3rd ask if the diamond ring be covered for its full value or replacement cost and will this be in the form of a cash sum where by you would purchase the replacement ring yourself or will the insurance company replace the diamond ring themselves and send to you.

4th check if the diamond ring be covered wherever the damage or loss takes place, some insurance companies will only cover loss or damage within your own company so additional travel insurance may be needed if you were to go abroad.

5th will the insurance cover all repairs on the diamond ring and who will make any repair to the ring, some insurance companies have their own tradesmen who would make any repairs needed other insurance companies will ask for several estimates provided by yourself before you can go ahead and get the diamond ring repaired.

6th always ask about excess, this is a sum of money you will pay before anything is repaired or replaced, this is normally ascertained by the value of the ring, it is a very important aspect of insurance, you may find small repairs can be done without going through your insurance, some cases will show that it simply is not worth paying the excess to replace or repair your diamond ring depending on the excess figure.

Diamond ring insurance may sound daunting but it need not be, knowing what to ask and knowing the facts always helps.

By: Vicki Churchill

Differences Between Firearm Insurance and Firearm Business Insurance

admin — Sat, 26 Jun 2010 14:22:38 +0000

The difference between firearm insurance and firearm business insurance is based on the use that the weapons receive. Therefore, a business working with firearms should not be satisfied with firearm insurance and should get firearm business insurance too.

Simple firearm insurance protects the bearer from accidents and liability by damages produced with the gun. However, if the firearms are used as part of a business like in sporting firearm commerce or collector’s exhibitions, there is another kind of policy that needs to be purchased. Moreover, there are actually two different policies that are known as firearm business insurances.

Firearm Insurance

Firearm insurance protects the owner and or bearer of the weapon from damages caused by its use or misuse (depending on the extension of the insurance contract). The average policy includes only accidents caused by the use of the gun, however, some insurance policies may include other risks like damage to properties when using the weapon reasonably, etc.

Under no circumstances an insurance policy will cover for the illegal use of a firearm that results in damages to people or possessions. However, damages caused when using a firearm to defend oneself are usually covered by firearm insurance policies as the self defense is an exception that excludes the misdemeanor from most actions that would otherwise constitute a crime.

Firearm Business Insurances

As explained above, there are two different types of firearm business insurances. Neither of them has to do with actual firearm insurance and should complement it. These insurances protect the holder, user or transporter of any damages caused to the weapon or by the weapon under its commercial use. Since firearms can be used commercially in different ways, more than one insurance policy had to be created.

Collector policies are firearm business insurance that protect the owner against damages when the weapons are not fired or used. This includes the use of weapons only for exhibits, and needs also to protect the goods while they are in route to a show or exhibition against: fire, flood, theft, damage, explosion or other accidental damages that may render the firearm useless for the commercial purpose covered.

Sporting firearm business insurance, on the other hand, protects weapons that are used for competitive shooting, target shooting, hunting or any other LEGAL use that implies firing the weapons. It obviously protects both the weapons and other possessions and people from the damages caused by the firearms.

On both cases, it is very important to obtain, prior to the insurance contract, an appraisal of the firearm value, especially when the weapon is an antique. It is advisable to get it from a third party and not to resort only to the insurance company’s appraisal specialists even if your are asked to provide a value yourself for the insurance contract as price variations can occur and you should be protected of that too.
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By: Hilary Bowman

Home Insurance Claims – Tips For Filing And Winning

admin — Fri, 25 Jun 2010 19:59:25 +0000

The process of filing home insurance claims can mean only one thing, you have suffered a loss of some sort. Now the work begins. Acquiring home insurance is easy, with the help of your insurance agent or broker. Obtaining a quote and policy activation can happen very quickly. However, things do not go quite so smoothly when you try to file a claim on your home insurance. It can be in some cases, be shocking at how your once accommodating agent can all of a sudden seem a bit jumpy upon hearing the word “claim” mentioned.

A best case scenario is, the claim form is completed and the insurance adjuster has viewed the damage and assessed the claim as appropriate, then it is just a matter of waiting for the check to arrive from the insurance company, which is usually a reasonably smooth procedure.

However, winning a home insurance claim is not always so straightforward. The insurance company will be looking to find ways to throw out your claim in some cases. The main reasons they will use to reject your claim are that you are not adequately covered, your time period for filing has expired or that what you are asking for exceeds the claimable amount as detailed on your policy.

For these reasons, it is essential that you understand exactly what your policy states and covers. The policy itself is a binding agreement between you and your insurance company. You should read all the fine print and know exactly what you are covered for and what deductibles and exclusions exist. It is extremely important that anything you don’t understand and any questions you have to ask be brought up at the time of taking out your policy.

Here are some tips to help you win a home insurance claim. First of all, evaluate your claim situation. Is this claim your first within the initial two or three years of the policy? If the answer to this question is yes, then ask yourself about the harm done to your property. Is your home vastly damaged? If you do not consider the damage to be great, it may well be better not to make a small claim at all. Lets face it, you never know what’s around the corner and you may be wise to save your insurance claim in order to declare something bigger in the future. Insurers are less likely to grant many small claims for damages than one large one.

Following an incident where losses or damages have taken place, you should call your agent to make a report and ask him to forward a claim form to you. Absolutely be able to document all items and property damaged or lost. Make sure you know how long you have to make the claim and where it should be submitted to once it is completed. Even if you are confident about filling in the claim form, make any queries you have in writing and take instruction and guidance from your agent. Ensure you do it right and you will be safe in the knowledge that everything is documented as it should be.

You can expect a successful result if you submit your filing in a timely manner before expiration. Your knowledge of the terms and conditions of the coverage you have in your policy will play a huge part in you filing a accurate claim, this can not be over emphasized. If you are really not happy with the insurance claims adjusters assessment, you may want to consult/hire a independent private claims adjuster. You have that right. All in all as the homeowner, don’t give up if your if your claim is disputed, you have to stay on top of your policy terms and sometimes insurance companies as well to be win home insurance claims.

By: Rhonda Strump

Accident Sickness Unemployment Insurance Or ASU Insurance

admin — Tue, 15 Jun 2010 23:25:00 +0000

Sometimes accident sickness unemployment insurance is termed ASU insurance. As the name would suggest it would protect against becoming unable to work after suffering an illness or accident and protect against unemployment by such as being made redundant.

There are different policies for different types of situations. Mortgage protection would cover the repayments of the mortgage. Loan protection would be able to protect any loan and credit card repayments you had to make. Income payment protection would allow you to continue paying your essential outgoings each month.

All policies would have the same basic rules. You pay a premium each month decided by your age and the amount you wish to protect each month. In the case of mortgage payment protection you can also choose whether just to cover against unemployment only or incapacity only to keep down the cost. Age based policies means that the younger generation can take now afford to protect their borrowings each month.

There are certain exclusions to be found in the small print of all payment protection cover. These have to be checked if you are to be certain that you would be able to claim on the cover. Once you have then you can check to see when the cover would begin and end. Payment protection usually starts to provide an income between the 30th and 90th day and would continue between 12 and 24 months. Some providers will also backdate to the first day of you being unable to work or of being unemployed.

Accident sickness unemployment insurance is essential if you have a mortgage to keep up with. By failing to maintain the repayments of the mortgage you are breaking the contract you signed and as such the lender can choose to repossess your home. While they do not do this if at all possible, not being able to agree with the lender on how you would catch up on what you owe, while at the same time missing more of your mortgage repayments means the lender will repossess. If you were to get behind on loan repayments and into debt then you could get a County Court Judgement against you and at the very least your credit rating would be affected and you would still have to make an agreement to repay the loan.

When you take out the loan or mortgage with the lender they will try to get you to take out accident sickness unemployment insurance. They charge way over the odds for the protection and bring in around £4 billion each year solely in profits from tagging on the insurance. Along with this often very little information is given regarding the policy you are taking on and in some cases in the past this has led to consumers taking out cover that they could not hope to claim against. There have been many problems with payment protection in the past but it can be a very worthwhile policy to have. It is also important to remember that the product does work providing you check to make sure it is right for your needs.

By: Simon Lance Burgess

Insurance Claims – Notify the Insurance Company!

admin — Tue, 08 Jun 2010 09:27:08 +0000

Seems sort of obvious, doesn’t it? But, there are different ways to notify the company that you’ve had a loss. And when you notify the insurance company can make a big difference in how your claim is handled.

The first place to look for information is on your policy. Many policies will have a telephone number listed for reporting a claim. However, I’ve seen policies that require the policyholder to notify the company in writing. So, make sure that the method of reporting your claim is acceptable to the insurance company. Likely, your agent has his name and telephone number on the policy. If so, call him and report the loss also.

Sometimes, an agent will have settlement authority to handle small losses, such as homeowner’s losses under $2,000.00. In that kind of instance, the agent could handle the claim for you. I’ve found this situation to be rare, though. Occasionally, captive agents (agents that work for only one company, like Allstate, Nationwide or Liberty Mutual) will have a small amount of settlement authority.

The first thing you should remember is that the agent is licensed by the Department of Insurance in his state to be an agent. There is a separate license for claims adjusters. It’s actually a violation of insurance regulations for an agent to do claims adjusting. It’s not his job to handle your claim, but to assist you in buying the coverage that’s right for you. Agents can be very helpful by making calls on your behalf if you’re having problems in your claim. They can be helpful in finding out key names and phone numbers for insurance company personnel that are handling your claim. If the agent has a large number of policyholders with that company, and his clientele represents a large amount of premium to that insurance company, it can be very helpful to have the agent call on your behalf when you’re having problems.

After all, it’s all about customer service, and keeping the promises made in the insurance policy.

Sometimes, the agent or an office secretary/customer service representative will fill out a claim form (called an ACORD form), and submit the claim form to the insurance company on your behalf. In this age of the Internet, frequently the claim form is electronic, and the agent will submit the electronic form by computer.

If the agent notifies the company on your behalf, and uses some type of form, ask the agent to send you a copy of the completed form. Then, you’ll be certain that the claim was submitted, and the date the claim was submitted.

Many times, however, the agent will have to refer you to the claims department of the insurance company. Your policy may have a telephone number for the claims department listed on the policy, and instructions how to make a claim.

Your policy requires you to notify the insurance company “in a timely manner” after you’ve had a claim. What is timely? It varies policy to policy. But each state has statutes of limitation that limit the amount of time after a claim occurrence that a claim can be made. Check with your state’s Department of Insurance to determine the statute of limitation where you live…or where the loss occurred. You’ll find a list of all of the Insurance Departments of all 50 U.S. states and their phone numbers in the Appendix, and at the website address shown below.

For example: you live in Minnesota, and own a retirement home in Florida. The Florida house gets hit by a hurricane. The statutes for Florida would apply.

WARNING: If you wait more than a month after your loss to notify the insurance company, they will be instantly suspicious. In those cases, you should expect to receive one of two forms from the insurance company before they begin their investigation of the loss:

Non-Waiver Agreement. This basically states that the insurance company is going to do a thorough investigation of the claim, but that their investigation does not commit them to pay the claim. It states that they do not waive any of their rights under the policy, and that the insured does not waive any of his rights by cooperating with the investigation. The insurance company wants the insured to sign this form. However, if the Insured refuses to sign the form, the insurance company will send him a….

Reservation of Rights letter. This states basically the same thing as a Non-Waiver Agreement, but the Insured does not have to sign it.

Don’t forget to write in your claim journal the date, time, who you spoke with, the phone number you called, and what was said when you reported your claim. That information could be very valuable later if you have problems with your claim.

Most likely, you’ll receive a claim number from the company when you report the loss. Write the claim number in your journal!!! Don’t expect the insurance company to quickly send you a form that has the claim number on it. Sometimes, it may be many days before the claims department sends you any correspondence, and you will likely need to speak with them before then.

WARNING: What about a situation in which someone else is at fault, and you’re making a claim against the other person’s insurance company? This could happen in an auto accident, or if someone causes damage to your house, or your contents. EVEN IN THIS SITUATION, you must notify your own insurance company that you’re involved in a claim.

The reason is that third party claims don’t always turn out well for you, the claimant. Sometimes, the other person’s insurance company denies liability or denies coverage. Sometimes, the other person’s insurance company drags the process out. Sometimes, the other person’s insurance company makes a settlement offer far below the fair value of the claim. Months may pass, and you have suffered a financial loss that is not getting paid.

What if you, or someone in your family, is injured in the claim…and the other guy’s insurance company won’t accept liability?

Those things might occur weeks or months after a loss. In many cases, you can short-cut that process and make a claim against your own insurance policy to repair the damages. Then your insurance company will do something called “Subrogation.” That is, they will pay your claim, and then contact the other person’s insurance company and demand reimbursement, including your deductible.

So, if you don’t report your claim right away, the policy might allow that insurance company to deny your claim based upon late reporting.

Besides, your policy REQUIRES you to notify the insurance company “promptly” after you have a loss of covered property. That requirement is there no matter who is at fault for the damages.

Don’t get caught in this technicality! Don’t lose your right to collect what you deserve when you notify the insurance company.

By: Russell Longcore

Auto Insurance Requirements So That You Are Legally Covered

admin — Fri, 23 Apr 2010 22:44:21 +0000

When you need to get MO auto insurance you will need to make sure you are legally covered, in order to drive safely within the law. I wish to tell you about what you will need as a minimum as insurance cover requirements can vary from state to state across America.

You must firstly be able to show proof that you are able to cover any costs you may be liable for by showing your insurance policy meets the needs of Missouri. The first being that you must have bodily insurance liability cover of at least $25000 per person you wish to cover and $50000 per accident.

You will also need to be covered for any property that may be damaged as a result of an accident. One example of this is if you were to run into a mail box, a garden fence or similar, this would mean that neither you nor the owner of any property lost or damaged will be left out of pocket. The minimum you will need to be covered for is $10000.

You will also need to have uninsured motorist bodily liability insurance which will mean that if you are in a n accident and the person who hits you is not insured your medical costs will be covered. This insurance cover will have to be a minimum of $25000 per person you wish to cover and $50000 each accident.

The latter of getting insurance is to post a certificate proving that you have enough money to cover you and any others in the event of an accident, but this is something that is rarely done as it is easier and more cost effective to have insurance that covers you.

If you will not be driving your own vehicle when in Missouri and wish to lease, the insurance minimum requirements will differ slightly, meaning that you will need a minimum of $100000 per person and $300000 per accident in the way of bodily injury liability cover, property damage cover of $50000 and comprehensive and collision coverage which will vary depending on your leasing company.

Not being insured could mean that you are not only left out of pocket but are also liable to pay a major court fine, and be forced to pay from your own pocket any damages you are responsible for. You could even end up serving a jail sentence which is why you need to make sure you have the correct coverage and carry proof of such when ever you wish to drive in Missouri.

By: Felix Fassbinder

Obtaining Quality Auto Insurance Quotes

admin — Tue, 20 Apr 2010 12:58:45 +0000

What to know about auto insurance quotes can be important when it’s time to register and then start driving a vehicle on the roads and highways in just about any state. For sure, almost every single state mandates by law that car insurance be carried with one exception and even that state has a law on the books that says a registered owner must prove financial responsibility in case of an accident.

The first thing to understand about auto insurance is that it is all based on risk. What this means is that any auto insurance company will examine the person in the vehicle that the person needs ensured and make a risk assessment. That risk assessment gauges the likelihood that an auto insurance claim will need to be paid at some point in the future.

If the person who needs the car insurance appears to be more of a risk — such as with a person who may have a less than perfect driving record or who has had accidents in the past — then the chances are good that the auto insurance policy may be a bit higher. Also, risk has to do with the kind of car that’s being driven. If it is a super high-performance sports car, it will cost more to insure.

This also goes for the repair ability of the vehicle. Some common and very popular vehicles are much easier to repair and the parts are more available. Other vehicles have higher repair costs and the parts may not be as widespread. Everything, though, about risk will be put together and then a quote will be generated. Those who are in the 16 to 24 age group, it should be said, usually pay more.

This is because that particular age group — according to statistics — tends to engage in the riskiest driving behaviors and have the highest number of accidents of any other group. But, quality auto insurance quotes for people in that age group are still possible if they maintain good driving records and maybe take a state certified safe driving course. This can result in a nice discount.

When it comes to finding good quotes, the Internet will be the preferred method in almost every circumstance these days. And though dealing in person with an agent can sometimes result in the best quote, going online and then finding a website that specializes in gathering together multiple quotes from a number of insurance companies seems to work more effectively in general.

This is probably because insurance companies realize that people today have more choices than ever when it comes to auto insurance and have the Internet to help them find as many quotes as they’d like and with relatively little trouble. Given that, just about every insurance company will put forward the best quote it can for the person who is seeking auto insurance.

Remember, auto insurance is not an optional thing when it comes to owning and operating a vehicle. Most states mandated by law and it would be foolish for those people who own motor vehicles to go without it. Also, auto insurance quotes can depend in large part on the risk that the insurance company feels might be present, so keep that in mind when going online to find a good quote.

By: Adriana N.

Auto Insurance – An Informative Guide For Car Owners

admin — Sat, 03 Apr 2010 07:44:54 +0000

The advent of the internet has completely changed the way we communicate, do business or even buy and sell products and services. Take the example of a person wanting to buy auto insurance. Obviously he would be looking for free insurance quotes. Now imagine this potential buyer contacting several auto insurance companies, getting their free quotes, comparing them and finally coming to a decision. This is not only time consuming and laborious but does not even ensure that he is making the right choice. The internet, takes the load off his shoulders when it concerns finding quotes. At the press of a button, it can provide you as many quotes as you like, complete with price and coverage plans. You access this type of valuable information not only sitting in the comfort of your home, but do not have to spend any money for accessing the information!

While the internet may quickly and efficiently provide you with numerous free quotes, the question still remains how to choose the most suitable auto insurance which is best for your needs and affordable for your pocket? For this, you need to study the comparative free auto quotes, to come to the right decision. Do not limit your research to price only, look for coverage also. Only then can you do justice to the information received online. I hope that this article was helpful in your search for good auto insurance information. Check out my other sites if you would look some more information on this topic.

By: Ron Holden

Auto Insurance Quotes – 3 Do’s and 3 Don’ts

admin — Tue, 30 Mar 2010 00:47:01 +0000

Auto insurance quotes are not unlike many other products for which you shop online. You truly need to shop around for them. Take a look at this list of 3 things you should do and 3 things you shouldn’t do when shopping for the best auto insurance quotes.

First we’ll take a look at 3 Do’s:

1) Make sure you get auto insurance quotes from at lease five auto insurance companies. Don’t jump at the first good rates you see. After all, you wouldn’t purchase the first auto you look at on the lot – shop around.

2) When submitting information required to receive your auto insurance quotes – make sure you submit information that is as accurate and complete as possible. The auto insurance quote is only as good as the information you submit.

3) Make sure the auto insurance quotes you get are for similar auto insurance policies. If the auto insurance policies are different – you won’t be able to trust the quality of the auto insurance quotes.

Now, we’ll take a look at 3 Don’ts:

1) Don’t let the sales person who contacts you with your auto insurance quotes talk you into switching to their company until you’ve had a chance to analyze the auto insurance quotes from each insurance company.

2) Don’t let flashy auto insurance gimmicks motivate your decision to change auto insurance quotes. Often these flashy gimmicks sound good – but you probably won’t even use them.

3) Don’t forget to obtain auto insurance quotes with a wide range of deductible amounts. I’ve found that by raising my auto insurance deductible amount by only a few hundred dollars – I’ve saved thousands over the long haul.

By: Edward Welch

Finding Discount Auto Insurance

admin — Sun, 21 Mar 2010 02:24:48 +0000

If you could actually see a published rate chart for an insurance company you might be able to tell if you are getting a discount. With the number of variables that come into play – your credit rating, where you live, how much of each kind of coverage, how many miles you drive each year, what kind of car you drive, how many traffic violations you have and how many accidents you have had in the last five years, how can their be a set rate chart? How can you find auto insurance discounters?

Progressive Insurance Company has made an entire ad campaign about how they discount your auto, marine, home and motorcycle insurance. Their spokeswoman has become a celebrity in her own right. On their website they will show you if another company has a lower premium on the coverage you are trying to get with Progressive.

True discounts can only come after your rate has been determined. If you are a new driver and have taken a certified driver’s training course then you will get a certain percentage off your quoted rate. Nationwide insurance offers up to fifteen percent off if your student maintains a B average through the school year.

Conventional advice has said that if you have both your home owner’s and auto policies with the same insurance company you get a discount on both. With the way rates are changing and going up it will be worth your while to shop around for separate quotes on both to see what you might be able to save. You will find that some companies have much better prices on auto insurance and others have better pricing on home owner’s insurance. If the difference in the individual policies is great enough you can save by going with two different insurance companies.

You will also save money if you have more than one car on your policy instead of insuring them separately. The only problem you may run into is if your insurance company wants you to maintain the same coverage on all vehicles to get the discount. Do not accept this and go to another insurance company especially if you have vehicles that are a great difference in age. If you own a vehicle outright you may only want to have liability insurance on it especially if you have a young driver to keep your overall vehicle costs down.

If an insurance company claims to be one of the auto insurance discounters make sure that you check out their financial stability by asking them about their AM Best rating. If they are not at least rated B++ you really need to think twice about buying any insurance from them. The best way to find auto insurance discounters is to go to a site like insureweb.com, esurance.com and others to check the various rates and compare policies to get the biggest discount you can. Make sure you check out the insurance rating on the vehicle you expect to buy. Some vehicles within the same categories cost nearly twice as much to insure because of their theft rate or how badly they suffer in crash tests. If the model you like costs to much to insure look for a comparable model from another manufacturer.

By: Mark Alison