Insurance

Choosing Car Insurance

2010-05-21T04:10:00.000-07:00

Choosing a car insurance is not easy. Especially in the highly competitive today. Almost all insurance companies have a product car insurance. Stay prospective customers choose which ones deserve to take. There are a few tips in choosing car insurance:

1. Prospective customers do not dwell on the cheap premium rates. Because in today's competition, many insurance companies slam prices, offers cheap premium rates. Though not necessarily be guaranteed to be of service.

2. See the insurance package offered. For example how much extensive guarantees. Therefore, this warranty should be adjusted with the desire and ability to prospective customers.

3. See also the network of insurance companies concerned. How many have a branch office or how many partners have a garage, so if someone claims not to wait long to repair the vehicle or to report a missing vehicle.

4. Can be asked in advance of ease, what facilities or benefits to be gained when buying the policy at the company. For example, road side assistance & services mobile claim, tow trucks, service hotline, mechanic services, ambulances and many more. And, last but not least is easy to make changes as well as ease in asking.

5. Consider also bonafides insurance company. Do not get so there is a claim, the partners did not have a garage. Therefore, many insurance companies claim they are the best, but its financial condition was so severe

Insurance for Cigar Smoker

2010-03-20T21:00:00.000-07:00

We all know that smoking is dangerous. Smoking will damage our body, for example, your lungs, your head, your heart. Toxic chemicals and cigarettes can lead to death. Think, if you smoke you will not be able to run high-speed or jump, if you can not breathe properly. Another problem is that you can easily one of the addictive chemical called nicotine. Nicotine can make you feel super at times. The more you smoke, the more you want to continue to smoke. Your body to become physically dependent on drugs, and began to desire it.

Smoking has become an important discussion, because of its side effects, any advertising, publicity, smoking, cigarettes, or tobacco products, have been banned from television and magazines. Mortality rate of smoking in the United States nearly 50 deaths per year million people, some experts predict that 1 / 3 of the Chinese people will have their own reasons for the reduction of the life of smoking are complex.

There are many different ways for smokers to quit bad habits. Drugs tobacco and nicotine addiction can be very difficult to get out of. Some methods of quitting the use of nicotine replacement therapy, including gum and patches, hypnosis, smoking cessation 'quit' and acupuncture.

Hundreds of people every week in the world conducted a search through major search engines Google and Yahoo, the phrase: smoker life insurance and life insurance for Cigar smokers. The financial consequences of smoking are far beyond the rise in the cost of a pack of cigarettes. Smokers will now pay more at the top of the life insurance and quotes online to understand, it is important to obtain coverage of the most competitive markets, regardless of smoking status.

Most life insurance companies use the same underwriting standards to determine whether you will fall into the category of smokers, including but not limited to the following in the past 12 months:

* Cigarettes
* Cigars
* Smoking 1
* Chewing tobacco
* Nicotine patch

Although this is a smoker means that your more expensive insurance, life insurance for Cigar Smokers can still take a very reasonable speed.

Due to increased premiums, may be about double the non-smoking, we recommend that you use the intermediary services, such as hot-line quotation, to make sure you get the cheapest insurance policy, you can life insurance for Cigar Smokers.

Before choose car insurance products

2010-01-14T09:53:00.000-08:00

A growing number of car insurance products on offer. Therefore, the principle carefully before buying, should be applied, so no regrets in the future. Before deciding to choose one of several car insurance products offered:

Determine the type of insurance coverage desired. Overall protection (All Risk) provides the best protection, but you need to take into account the economic side.
Do not be fixated on the size of the premium to be paid. See the company's credibility, especially in terms of service, claims handling and financial capabilities.
Many insurance companies are credible, though without the support of re-insurance companies. But there was no harm in finding out track record of re-insurance company (if any).
Does the company provide additional benefits, such as 24-hour claims service, free towing, insurance claim process 24 hours, etc?
You should see the network's corporate partner workshop. How much, where the location and how the quality of these workshops.
Understand exactly what are the rights and obligations. What should you do and what not. Are there exceptions in the policy contract, what pros and cons for you?

If you have understood the points above, begin choosing the insurance products that match your desires. Maybe you should be check this one as a comparison of your car insurance options.

Tips When Making Purchase Health Insurance

2009-10-08T06:59:00.000-07:00

Through some insurance plan you choose, there is always a limit to the planning and planning before making a purchase health insurance for your company, there are several references that must be observed.

It is also important to understand, kind of features and benefits provided by the health plan you purchase. In some cases, the health plan will be presented on health insurance benefits. For more detailed information, you need the help of your health insurance representative.

To help you make a decision among several health insurance plans. Here are some questions and tips that can help. Questions and tips will make your stay on your plan which was previously planned.

• What happened to the claim?
Traditional health insurance plans require employees to collect claims for reimbursement. How fast can claim handled properly?

• What is focused expenditure out-of-pocket?
Are there types of expenditures for health care different? Would be reduced?

• Are there any restrictions?
Know the services covered by health insurance plans that you buy. Make sure you ask about the limits of your health insurance coverage.

Do check with the insurance department in your country and look at every complaint that generally occur. Do check any insurance company that handles all complaints properly. Do not choose a bad company in the handling of a complaint.

Choosing Insurance Tips

2009-09-26T00:48:00.000-07:00

HEALTH is the most important thing in life. Therefore, people take a variety of ways to maintain and health care. Even people looking for health insurance to support and ensure their health. Moreover, the cost of care and treatment of disease increasingly soar.
With the health insurance program means you have shifted the risk to other parties. Risk transferred to it, you have to pay a premium depending on the risk transferred and who want the benefits obtained. However, you still jelly choose the right insurance that does not suffer later. Here we present some tips that you can see before taking a decision to follow the health insurance.

Bonadifitas and Track Record
Lately considerable spread of health insurance (eg aromatherapy) are offered through the credit card providers (Issuer). That is, other than a direct quote from health insurance companies, there is also offering health insurance through credit card organizer (Issuer). Offered to card holders benefit from health insurance and direct premiums charged to card holders via credit card.
At this point you should look at what benefits the insurance company provided. Does the insurance company that works with the credit card issuer is a bona fide and have experience? Not until, when you are sick and make a claim, the process is even more difficult. Even difficult for you. So, to choose the health insurance companies, at least there are two things to note, namely bonafiditas and his track record and offer advantages compared to the premiums charged to you.

Savings and Investment
Health insurance services is now very varied. In addition to offering financial guarantees when ill, there is combining it with certain services. For example, premiums paid in part shall be applied as a savings or investment. Of course this offer attractive. But insurance premiums are usually offered will also be given greater or health food.
In addition, those who actually join the insurance program at a young age will get some ease. For example, no medical examination required. Please note that insurance premiums will increase with increasing age of the customer. So, register yourself on health insurance when he was young.

Insurance, which Tend Product Avoid

2009-09-26T00:43:00.000-07:00

Amid the high number of residents, insurance was still not a mainstream product of Indonesian society.

This is implicitly shown in a survey conducted by the Bureau of Research in the framework of the program InfoBank 126 Insurance Rating InfoBank 2009 version. From there it obtained the information that the life insurance industry recorded only the gross premium growth of 8.88 percent in 2008. Obtaining life insurance premiums in 2007 to enjoy the harvest season, then in 2008 before declining investment returns are 1.30 percent and fell by 29.13 percent.

And all this time efforts are made by companies and practitioners to socialize heavily enough insurance. The government also did not seem to hinder the development of insurance markets. But in fact the number of participants is very little insurance, it is not disproportionate when compared with the total population of Indonesia, which reached approximately 220 million people. This indicates that the insurance tends to be avoided by the public.

According to the opinion of the writer, there are some things that cause difficulty growing insurance sector in Indonesia. First, people do not know the importance of insurance. That happens because the community was less familiar with the insurance, because not getting enough information, especially from the school as educational institutions. According to personal experience and observation, materials and information about insurance is less a place in our educational curriculum.

Lack of information sometimes lead to wrong understanding of the insurance community. Community feel lazy insurance because considered less favorable, because the money is already insured could not be disbursed at any time as in savings. New money can be taken only if it is due or if it is in conformity with the agreed, so it is not flexible.

And it's where the benefits of insurance, because our future will be more secure. The premiums are always awake, even by the desire and our own desire to use the money.

Second, insurance agents are too aggressive and was "forced" in marketing insurance products. This is slightly more negative impression for the general insurance industry. Community was disturbed by the doings of the excess insurance agent, so that eventually became allergic to the name of insurance. Then the negative news continues to spread widely by word of mouth.

Insurance in order to grow and develop in this country, then the earliest steps that must be done is to fix and straighten out the negative views that are already rooted in the community. This can be done by introducing intensive insurance system starting from primary education up to university level. Communities should be given the awareness that insurance is important for the future, especially in the less conducive conditions and national stability as now.

The government also needs to be firmly against insurance companies that do not meet the requirements or government regulations. Regulation No. 39/2008 states that an insurance company must meet the minimum capital USD 40 billion by the end of 2008, a minimum of USD 70 billion in 2009, and should reach USD 100 billion in 2010. Companies that do not meet these requirements should be closed or merged, may be dangerous because of insurance users, which is threatened not paid claims because the company went bankrupt vulnerable. If this happens, then the effort to build a good image of the insurance will never be effective, or even could become a thing of naught.

life insurance reference

2009-09-15T19:37:00.000-07:00

Life Insurance is a promise from the insurance company told its customers that if the customer runs the risk of death in life, then the insurance company will give a particular amount of compensation to the heirs of those customers. By taking Life Insurance, it is expected that you leave the party no difficulty in paying living expenses. For your reference, the following is a list of companies that sell Life Insurance:

AMERICAN INTERNATIONAL GROUP LIPPO ( AIG LIPPO )
Menara BIDAKARA, Lantai 22
Jl.Gatot Subroto, Kav 71 - 73
Telp : 021 - 837.04722 , Fax: 021 - 837.04721
Pancoran - Jakarta Selatan

ASURANSI JIWA BUMIPUTERA JOHN HANCOCK
Plaza DM (d/h Mashill), Lt. 7
Jl. Jenderal Sudirman Kav. 25
Jakarta 12920
Telepon (021) 5228857-8, 5267990
Fax (021) 5229730
E-mail: info@jhancock@co.id

ASURANSI JIWA EKA LIFE
Wisma Eka Jiwa, Lt. 8
Jl. Mangga Dua Raya
Jakarta 10730
Telepon (021) 6257838
Fax (021) 6257837
E-mail: cs.ekalife@sinarmas.co.id

ASURANSI JIWA INDOLIFE PENSIONTAMA
Wisma Indocement, Lt. 3
Jl. Jenderal Sudirman Kav. 70-71
Jakarta 12910
Telepon (021) 5224074
Fax (021) 5224080, 5703775

ASURANSI JIWA METLIFE SEJAHTERA
Menara Mulia, Lt. 15
Jl. Jenderal Gatot Subroto, Kav. 9-11
Telepon (021) 5277608, 5277620

ASURANSI JIWA TUGU MANDIRI
Gd. Wirausaha (Enterprise Building), Lt. 6
Jl. HR Rasuna Said Kav. C-5
Kuningan, Jakarta 12940
Telepon (021) 5213111, 5213135

PT. ASURANSI JIWASRAYA
Head Office
Jl. Ir. H. Juanda no. 34
Jakarta 10120
Telepon (021) 3845031
Fax (021) 3862344
Email: asuransi@jiwasraya.co.id
Web Site: www.jiwasraya.co.id

Investment Finance - Education Insurance

2009-09-15T11:48:00.000-07:00

Congratulations if you have been through pregnancy safely and deliver a healthy baby. We believe the current financial condition of the mother much different when compared with the family's financial condition during pregnancy or even at the time was still struggling to get pregnant. This is reasonable because as a new parent, the mother would want to give the best for any child (especially the first child).

This behavior and create a new parents do not notice anything more important than infant formula expensive (premium) for the baby's brain growth. Another thing that is not less important to that is education. We call it that because a child's brain any good mother, she should continue to use education to college level to pursue a career in the future.

For this reason a new parent, the mother must set aside part of the income mothers to begin preparing the children's education funds such as education and insurance savings education. The reason is quite reasonable, she will never know what will happen in the future. For that whatever happens later, the children's education fund should be met when the child needed later.

Insurance Education

One of the interesting things to choose is insurance education. Just like life insurance, education insurance will be liquid at a particular time in this case is when the child needs for school fees. Education insurance fund will be liquid when the child started elementary school, starting in junior high, began in high school to universities. This means that mothers get a refund large enough if the child requires an entrance fee of the new school.

Insurance premiums Education

Just as in general insurance, education insurance premiums can be paid monthly, quarterly, half yearly to yearly. Especially for those who are willing to pay annual (by using the momentum from the income or bonus THR) is usually given an additional facility which is a premium refund for 1 year. This means that for 2 years, you only have to pay a premium of 1 year.

Choosing Insurance Education

Motto carried by the insurance company is "Risk Is Our Business". This means they work with to manage the risk to earn a living. Because of this you should choose an insurance company that was bona fide when it later emerged that claim (child goes to school) the company could pay the money that has become your rights well.

Selecting Investment To Prepare For Children Education Fund

2009-09-15T11:45:00.000-07:00

On February 3 last, I was in Semarang for NOVA's invitation to give seminars on how to design children education budget. Although this topic I've written before in NOVA No. 642 and 643, I felt up whenever this topic will remain interesting when discussed.

The seminar consisted of two sessions. The first session discussed the importance of preparing children's education funds and how to calculate its budget. While the second session is specifically to train the participants how they can calculate their own budget for the education of their children.

Before the first session ended, I get a lot of questions about what investment products are "appropriate" in preparing children's education fund. Even when the rest of seminars (coffee break), there is only participant who approached me and asked whether investment in this product and it was profitable or not.

Because of that, it occurred to me to discuss about the preparation children's education funds, but in terms of investment products. This means that any investment products are available for the preparation of children's education fund, and what the pros and cons of each.

Let us repeat the previous bit. In preparing the children's education fund, was not only need to know about how to calculate the budget for the preparation of their education funds, but also what investment products should be selected. For example, you've done the calculations and find that you need to save as much as Rp 100 thousand per month to prepare your child's education fund. Now the question is, where money USD 100 thousand had to ditabungkan? Savings to the Bank, buy gold, buy mutual funds, insurance open education, or where else?

At NOVA earlier when writing about how to prepare the children's education fund, I was more focused on how to calculate its budget. It's not where the money should be invested. Let's discuss what investment alternatives to choose parents in preparing their children's education fund and what the pros and cons of each.

Commission Oldest Insurance Agent?

2009-09-15T10:40:00.001-07:00

I have some insight for those who want to become an insurance agent, or maybe you are right now is an insurance agent.

Why would anyone want to become an insurance agent, would not merely because he wanted to help others, bring others, social action .... if anyone would answer such a big lie.

Why would anyone want to become an insurance agent, although they get blamed and insults, rhinos face, no shame, etc., is due to: the commission TOO BIG!

Okay, I will not discuss how much the insurance commission of each insurance company, I understand all about the same, at least 5% adrift alone.

What I want to tell you is how long an agent receives the commission?

There are insurance companies, when the agent did not get clients for two months, then his status will be a registered agent, and the rights commission next month or next year (if any) go missing.

There are insurance companies that provide opportunities for diving 6 months, if still no production, the new status of a registered agent and the commission to vanish.

There is also an insurance company that the agent one year assessment.

Well this is great, there are insurance companies, when the agent was not active and become a registered agent, PERMANENT COMMISSION GIVEN!! in accordance with standard commission company. For example, the product was given a commission for 5 years, although his agent is not active, but STILL ACCEPTING COMMISSIONS!

Hehehehe ... sure on what the company would ask. Find yourself well.

Actually how long the evaluation of agents, like two months, six months or one year, there are pluses and minus. What is clear aim is to encourage agents are always encouraged.

The choice is in your own ... a clear, choose the best.

Being an insurance agent, why not?

2009-09-14T14:01:00.000-07:00

The manager or leader in the insurance company will often motivate the agents to say that the insurance agent is the most noble profession in the world. How not, in fact this is so, because in principle at an early stage they help provide information and financial advice is highly valuable to prospective customers and clients. The ideal insurance agent who is very concerned with its customers, began as an approach, closing the sale, 'maintaining' the customer, even to the maintenance of insurance claims. They save the families bereaved by the husband / father as the family economic support. They assist us in planning for long-term funds for the continuity of education of our children. They helped find financial solutions for customers who have permanent disabilities in order to continue to make a living.

So, if you are interested to be an insurance agent, remember that the main essence of the task is to help others. If simply for money or commissions, you will easily feared down when faced with rejection. Remember, professional insurance agents most experienced rejection, compared with similar professions, such as a motorcycle salesman (usually you will be greeted with smiles and hope). So, if you become an insurance agent with a base to help others, you will not be disappointed or down quickly when faced with rejection, even things could turn around, you will be liked and needed by your customer. Kalo gitu, mau dong so insurance agent, who was afraid?

Astra Insurance Degree Indonesia's Most Admired Company

2009-08-15T23:00:00.000-07:00

Astra Insurance receive awards Indonesia's Most Admired Company in 2009 held by Frontier and Bussiness Week in Djakarta XXI Ballroom Theater Building. This award was received Asuransi Astra in succession since category Insurance Kendaraan held in 2007.

Indonesia's Most Admired Company are based on Corporate Image Index obtained from the survey since April 2009 to May 1860 against the respondents based in Jakarta and Surabaya. Respondents consisted of management companies, investors, journalists, and the public. Surveys carried out by face-to-face using a sampling method purposively, except for public use multistage random sampling method.

One thing that is unique, although dihantam global crisis, companies in Indonesia showed the resilience that good. Surveys Indonesia's Most Admired Company shows the increase in the index even the greatest in the last four years. Index image of the company in general in 2009 was 3.71, increased from the 2008 average of 3.65 while the index in 2006 and 2007 respectively 3.61 and 3.63.

Corporate Image Index has its own four-dimensional assessment of the quality, performance, responsibility and the attractiveness of the company. Dimension represents the quality of the company's attention to the consumer, the quality of products / services, innovation and trust. Dimensions of performance consists of two components, namely governance and companies with good opportunities to grow and develop. Next dimension responsibilities consist of attributes concern for environmental sustainability and social responsibility. Last dimensional magnetism is determined by two factors: how far the company can become a place of work and the desire to which the company has a qualified employee.

Asuransi Astra achieve Corporate Image Index 3.792; the only company that has a value above the average in the insurance industry Kendaraan namely 3.663. Asuransi Astra before this predicate also get "Very Good" from the Infobank Magazine, the award is submitted on Tuesday, 11 August 2009 and at the end of July that successfully maintain Indonesia's Best Brand Award is awarded by the magazine MARS and SWA Magazine.
Achievement-achievement will spur more Asuransi Astra innovate in order to achieve customer satisfaction vision "to bring peace of mind to Millions."

your insurance sollution

2009-07-27T20:20:00.000-07:00

When Pak Taufik died because of the new car crash, then the 'left behind' is not only a new car is heavily damaged, but also a childless widow of orphans 2. In addition there are 10-year home loan burden of remaining, more credit card debt load is. Unimaginable how big a financial burden must be borne by the young widow, who is only relying on income from the husband's earnings. How are the future of second-son who funny? How the future of education, which require a large amount of the cost? How will your cost of living that must be paid for day-to-day?

Of these stories are not real, not impossible but can be experienced by everyone. Not many around us have, for example, families that live peacefully only to be neglected because of critical illness, permanent disability or death that befall the breadwinner. If the case, then how Sollution?

From the point of view of Islam, and help them to help the unfortunate is a duty. Many of Al-Quran verses hint that case, among others, in the Al-Baqarah verse 177 and the letter of Al-Maa'un paragraph 1-7. All this concern is the existence of each other, as well as indications piety to Allah SWT. The Prophet SAW has said that people believe between one another is like building a mutually reinforce, so that if one part suffers pain, then the body of the other feel.

Health Insurance

2009-07-25T02:50:00.000-07:00

Few of the leading health insurance in the compilation of several sources:

Health insurance is a contractual agreement between an insurance company to its customers. Its contents, if the customer's risk of experiencing health-related, then the insurance company will replace the cost - the cost of health issued. Usually, replacement is given to: Inpatient, operation, purchase of medicine and outpatient.

Not all replacement Askes give the same. Some products only change Inpatient. Some of the other add to the replacement operation. Only a few products that replace the full, from the Inpatient, surgery, medicine and outpatient.

Cost - the cost of health care is basically divided into:
1. Health Care Costs, the costs - costs that must be removed so that someone's health still awake. For example: for the health check-up, some vitamins etc.
2. Outpatient costs, the costs - costs that must be issued to pay for consulting a doctor, when someone sick.
3. Inpatient costs, the costs - costs that must be issued to pay for the cost - the cost associated with the Inpatient, when someone sick and have to stay.
4. Cost of medicine, the costs - costs that must be spent to buy drugs.
5. Operating costs, the costs - costs that must be removed when someone should be operated in the hospital.

Choosing Health Insurance
1. Askes should select that can provide protection Inpatient thoroughly, not only the replacement cost of a room, but also santunan surgery, UGD, ambulance etc..
2. Keep taking Askes, even once your funds are limited at this time to pay the insurance premiums that may be felt expensive. However, select only the replacement cost of hospital rooms. Have this type of insurance excess. When you take the type of room with the cost of Rp. 300.000, - per day., For example, when you enter hospital rooms that price is less than Rp. 300.000, - per day, you still get a cash fund of Rp. 300.000, - per day.
3. Never take for the protection of outpatient services. Cost that you spend for treatment / dental treatment within a year is usually smaller and not at all comparable with the premium you pay.
4. Never take Askes also provide the replacement cost of labor (Maternity). This is usually because the premium you pay will be almost the same magnitude with the number of klaimnya later. Labor costs offered by insurance companies for labor is usually normal (normal Maternity) or confinement berkomplikasi (Maternity complicated).

Both certainly have a difference in the premium. The cost for a normal childbirth is around Rp. 4 million, while labor berkomplikasi, can Rp 6 million to Rp. 10 million. While premiums you pay for both the protection is more or less the same as the average cost you should claim.

Addition, the insurance company does not claim Maternity serve in the first year you pay the premium. This means you must pay a premium now, and new benefits you can receive if you give birth in the second.

compare auto insurance

2009-07-13T13:01:00.000-07:00

Car Insurance Quotes : Cheap Car Insurance Quotes Often Misleading and this is particularly a problem as many car owners are finding their car insurance rates skyrocketing such as those living in Wisconsin. As the cost of car insurance policies eats into the overall household expenditure of many middle class American families, many car owners are desparately looking for cheap car insurance plans. Although many new auto insurance quotes seem to be cheaper, do you know if such car policies are really suitable for you and worth buying? Be wary when a particular car insurance company offers you some too good to be true cheaper car insurance rates because they may become your worst problem when you are trying to process a claim. Therefore, do not simply accept the cheapest car insurance quotes offered to you without understanding more about the details or you may be compromising on the vehicle coverage.

Affordable Vehicle and Car Insurence Companies

2009-07-02T23:00:00.000-07:00

There are many insurance companies claiming to offer low cost vehicle insurance for just about any type of automobile. Whether you are insuring a new car or any type of auto you need to be aware that not all on line quotes are what you would call affordable. This site is meant to be informational and offer quotes from many auto insurence companies.
Full Insurance Online Guide

Insurance refers to a contract wherein a person gets financial reimbursement from an insurance company in case of losses. Insurance comes in many types such as casualty insurance, disability insurance, health insurance, life insurance, property insurance, liability insurance, credit insurance, car insurance, financial loss insurance, kidnap and ransom insurance, and purchase insurance. Believe it or not, there is even pet insurance.

Getting financial reimbursement is not that simple. Since nothing is free in this world, you have to pay a premium in order to be insured. The premium is highly based on the risk of loss. Aside from the premium, there are other factors affecting insurance. It is best if you take time understanding insurance, insurance policies, and everything in between before actually getting one.

Car insurance, to put it simply, serves as protection against losses in cases of accidents. For example, you hit another car while driving and both cars were damaged. Your car insurance will help you foot the bill. Usually, companies selling cars include car insurance in their sales. While packaged deals are great, it will not hurt you to look around.

Developed medical care, improved healthcare, enhanced diagnostic procedures… These may give you hope that life insurance is not exactly as important as advertised. However, the day when you start thinking like this is the day you are wrong. Life insurance serves a number of purposes. For one, it is a good income replacement. Another, it can be used for paying your children’s college education. Also, life insurance can be a tool in wealth preservation.

Health is wealth. You have heard of this before and chances are you will still be hearing it years later. Health is of utmost importance; you should not take any chances with it. This is where heath insurance comes in. Health insurance may be the best way to get preventive car, nursing care, and other medical attention in cases of accidents and illnesses.

Auto Insurance Tips

2009-06-29T20:02:00.001-07:00

When you really need it, you will be glad you took the time to purchase good car insurance. The purpose of the articles in this section is to prepare drivers with the right auto insurance policy before it is too late. Then, if trouble strikes, you and your family — and your family's finances — will be protected.

InsuranceEveryone knows that car insurance can be expensive. However, in the Internet era, getting an online car insurance quote is fast and easy. With the resources and information we present here, it is easier than ever to compare auto insurance quotes. We will also tell you what differences exist between one auto insurance company and another. Basic coverage is described and comparative shopping strategies are clearly outlined. What about teenage drivers? We take a special look at shopping for car insurance for them. What if you have auto insurance but can't keep up with the expensive premiums? We might be able to show you how to continue getting the coverage you need while reducing your payments. And, finally, what about the mysterious type of insurance called "gap insurance"? This is a form of auto insurance that usually applies to leased cars. In some cases, however, a car buyer might also need gap insurance. We'll tell you when and how much to buy.

If you are on the fast track, and need car insurance now, we've boiled down all our information into the easy-to-read "10 Steps to Buying Auto Insurance." This series of short articles is followed by a checklist that will ensure that you won't overlook any important details as you get the best coverage available.

How Insurance Works

2009-06-29T19:58:00.000-07:00

While it may seem complex, insurance is really quite simple: The payments (or premiums) of the many pay for the losses of a few. Your premiums go into a large pool, if you will, at your insurance company. The claims of the few are paid from that pool. Because there are more people contributing to the pool than there are making claims, there is always enough to pay the claims – even large single claims like when someone is permanently disabled as a result of a car collision, or many smaller claims like those resulting from a natural disaster. (The 1998 ice storm that hit parts of Ontario, Quebec and New Brunswick resulted in an estimated 700,000 claims for damage totalling $1.4 billion.) However, large disasters (such as the ice storm) do come close to emptying the pool.

Insurance for insurance companies

Even when the pool comes close to emptying, there is another pool from which insurance companies can draw to pay claims. Some of your premiums are used by your insurance company to buy reinsurance – insurance for insurance companies. Sometimes losses are so big – like those resulting from an earthquake – that there is no way that an insurance company can cover the costs. Reinsurance is an extra layer of protection against large losses.
Annual replenishing

Your insurance is an annual contract, so the pool operates for only one year at a time. Your premiums and the premiums of others are based on how much money the insurance companies think they will need to pay the coming year’s claims. Your premiums do not build up over the years – unlike the premiums for some types of life insurance.
How premiums are calculated

Within reasonable limits, some of which are prescribed by law, your premium is calculated to reflect the probability that you will make a claim – that is, that you will draw funds from the insurance pool. Those who are unlikely to draw from the pool pay less than those who are more likely to draw from it.

Insurers take many factors into consideration to determine the likelihood that you will make a claim. A common misconception is that a policyholder who has never made a claim should pay less, little or nothing for insurance. While it is true that past claims history is important, a more reliable indicator of how likely a person or business is to make a claim is the statistical group to which he/she/it belongs.
Industry earnings

Insurance companies generally do not make money on the premiums gathered from policyholders. In 2005, insurance companies paid more than $21 billion in claims while taking in $35 billion in premiums. The difference between the premiums and claims, in this case $14 billion, is used by the companies to pay salaries and taxes ($6.2 billion in 2005), and to cover the overhead costs (such as electricity bills) of running a business. It is also used to pay the administrative costs of settling a claim.
Insurance pays for …

Insurance pays for only those types of losses described in your contract. It is very important that you read your policy and/or talk to your insurance representative about what you are covered for and what you’re not. Insurance will not pay for every problem that you may encounter, nor is it a maintenance contract. Insurance is generally intended – and priced accordingly – to help policyholders cope with the financial consequences of unpredictable events that are "sudden and accidental." If, for example, you live on a floodplain by a river, flooding of your property in the spring is not sudden or accidental; it is inevitable and, therefore, uninsurable.

States Differ On General Auto Insurance Requirements

2009-06-29T00:01:00.001-07:00

Auto insurance is a very simple thing that may cause much confusion for many people. The lack of knowledge, when shopping for a general auto insurance, is the problem that most people have. This is what makes it confusing for people looking for a car insurance. However, if you take a little time to inform yourself, you can save a lot of stress and complications when shopping for auto insurance.

First of all, you should know your specific state's requirements for general auto insurance coverage. Each state has a different law, so knowing your's will be important. However, you shouldn't limit yourself to only purchasing the amount of auto insurance coverage that you need. Instead, you should purchase enough coverage so that you are financially secure. That is, after all, what auto insurance is designed for.

Drivers need to understand the different types of general auto insurance coverages available in the insurance industry. The differences between liability coverage, comprehensive coverage, and personal injury protection are simple to understand, and informing yourself will help you to better understand what you're paying for. For example, bodily injury liability coverage pays for injuries for yourself and others on a per person or per accident basis.

Comprehensive auto insurance coverage pays for all non-accident related expenses, such as theft, natural disaster, or fire and water damage. If you spend ten minutes to know these terms, you'll be a more effective auto insurance shopper, and should be able to find cheaper rates.

Knowing auto insurance rates and getting quotes from various sources is also equally important. Many companies offer similar rates, but by getting multiple quotes, you are giving yourself more options for insurance. You should never purchase the first policy that you get a quote for, at least not without checking out a few other policies.

Also, you shouldn't choose a car insurance policy just because the cost is low, or because it's the most expensive. Price is relative to the coverage you get. It needs to be compared as such when one is shopping for general auto insurance.

Car Insurance Rates Reduced Using Tracking Devices

2009-06-28T23:59:00.000-07:00

A new concept in determining auto insurance bills is coming to the state with the nation’s highest average rates: pay-as-you-drive.

For the first time, a New Jersey auto insurance company wants to equip cars with high-tech devices that constantly track motorists’ driving habits to determine how much they should pay.

Starting Aug. 8, Progressive Corp. will offer discounts to its 127,000 Garden State drivers if they install in their cars wireless devices that tell the insurer how many miles they drive, what time they’re out on the road, and how often and how fast they accelerate and hit the brakes.

The company is dangling 60 percent rate discounts for the best drivers. Those who quickly rev up or slam their brakes, however, could face surcharges as high as 9 percent.

New Jersey will be only the fifth state with the pay-as-you-drive devices offered by the insurer.

“This is definitely the wave of the future,” said Loretta Worter, vice president of the Insurance Information Institute. “More and more companies are getting on board with tracking devices, seeing they offer a lot of advantages to consumers.”

Supporters of the idea say it reduces traffic because drivers want to keep their miles down. They say it improves drivers’ safety habits and cuts air pollution. They also contend it’s fairer than other new ways to charge motorists, such as basing rates on motorists’ jobs, credit scores or level of education. But others worry the devices are akin to having Big Brother riding shotgun.

“It’s a good idea for some people. It’s not for everybody,” said Richard Hutchinson, general manager of usage-based insurance for Progressive. “People need to think about this in their own situation.”

The insurer does not use how fast motorists drive as one of its rating factors and the company does not rat out speeders to the police, Hutchinson said.

In other states, about one-third of the company’s customers have enrolled and they are saving about 10 to 15 percent. New Jersey drivers pay an average of $1,184 per car in auto insurance premiums — highest in the nation, according to the latest statistics.

Hutchinson said the company can offer discounts because drivers are safer when they know they’re being monitored. Motorists may quit the program at any time.

The pocket-sized sensors, with the wireless transmitting capability of cell phones, are plugged into onboard diagnostic ports in cars dating back to 1996 models. Each day, they signal to Progressive computers about miles driven, when drivers are on the road and how they brake or accelerate.

“We’re supportive of a method that actually looks at miles driven,” said Stephen Carrellas, representative of the New Jersey chapter of the National Motorists Association. “Basically, the more you drive, the more you have a chance to be in an accident.”

J. Robert Hunter, director of insurance for the Consumer Federation of America, said he generally views “pay-as-you-drive” insurance plans as good for motorists but worries that tracking what time they drive could penalize low-income drivers working late-night shifts.

A recent Brookings Institution study found that if all drivers paid for insurance based on miles driven, overall driving would drop 8 percent in the nation and 13.5 percent in New Jersey. It would reduce total carbon emissions by about 2 percent, the study found.

“Going easy on the peddle and easy on the brakes not only helps safety, but also the environment,” said Mike Replogle, transportation director for the Environmental Defense Fund.

But Charles Samuelson, executive director of the ACLU of Minnesota, a state where the device is used, worries about privacy.

“We see this as kind of a creeping abduction of people’s data,” he said. “Basically, once they collect that data, it belongs to the insurance company. That’s a big problem.”

Progressive’s Hutchinson admits privacy has been a concern since the program started with a pilot project in 1999. He said the devices do not include GPS locators that would enable the company to track every movement. “The primary concern that comes up is: ‘Are you tracking my whereabouts?’” he said.

Just like car owners with EZ-Pass toll transponders, drivers with computers may obtain access to all monitoring data online and see how they compare with others in the state, he said. While the data is subject to subpoenas or court orders, so far the company hasn’t received any. The company does not sell the data to third-party marketers.

Allstate, New Jersey’s second largest insurer, is testing devices that monitor traffic and attempt to avoid accidents. A few other companies that do not do business in New Jersey also electronically track driving behavior.

Buying Life Insurance

2009-06-28T23:55:00.000-07:00

Conventional wisdom says that life insurance is sold, not purchased. In other words, some people are reluctant to discuss the importance of owning life insurance, and others are simply unaware of the need to have life insurance. Although many large companies provide life insurance as part of their benefits package, this coverage may be insufficient.

Who needs life insurance? If there are individuals who depend on you for financial support, or if you work at home providing your family with such services as child care, cooking, and cleaning, you need life insurance. Older couples also may need life insurance to protect a surviving spouse against the possibility of the couple's retirement savings being depleted by unexpected medical expenses. And individuals with substantial assets may need life insurance to help reduce the effects of estate taxes or to transfer wealth to future generations.

Compare Auto Insurance Quotes and Save Up To 40%

2008-07-25T00:16:00.000-07:00

In today's economy, every dollar counts. Doing a budgeting exercise can help you know the areas that you can cut back on. You will be surprised at what this easy exercise can do for you. Many people tend to forget the amount of money they spend simply because they don't track what they spend on. As a result, they are not sure how they can cut back on their expenses.

For sure, a some big ticket items will stand out in the balance sheet. On a sheet of paper, everything becomes obvious. One of these items could be your automotive insurance. This is a recurring expense.Every year, you pay a certain amount of premiums to the car insurance company. The price of the policy depends of multiple factors, some of which include:

1) Age of the driver.

Companies that provide auto insurance factor in the age of the driver when providing a quote for the policy. Usually, more mature drivers tend to pay less premiums. This is due to factual statistics. Younger drivers usually have a higher rate of accident. Therefore, the higher premiums.

2) New versus experienced drivers.

If you just pass your driving test, you may be under a probationary period, depending on where you reside. In this case, you may be subjected to higher rates as the company has to offer a higher level of risk. More adept drivers don't need to pay as much. In fact, if a driver continues to have a clean driving record, the premiums may even decrease year after year.

3) Car Make and model of the vehicle.

Family saloon cars tend to command low prices. The more powerful the vehicle the greater the premiums. Also, some models are especially prone to accidents (such as sports cars). Be prepared to pay much more for these makes and models.

These are the most factors that determine the price you pay for your car insurance policy. There are different types of policies in the market, and some are more inexpensive than others. Cheaper policies usually come with higher deductibles, which means that you have to be accountable for a certain amount of repair costs upfront. Anything over and above this amount, the your auto insurance company will pay on your behalf.

If budgeting is a concern, and you find that you have a clean driving record, you may wish to consider buying policies with higher deductibles. That will lead to some savings. But be aware that purchasing such policies also mean that you are taking on more risk. It's a trade off.

Finally, before running off to renew your policy, always compare quotes between insurance companies. Many car owners simply renew without further research just for the sake of convenience. Some don't even look at the rate at which they are renewing their policies. This may lead to a bad buying decision.

The auto insurance market has changed today. Mostly, it has become more competitive due to the growth of the Internet. Auto insurance companies are acquiring customers on the Internet, and they are offering very attractive deals to push ahead of the game. As the consumer, perhaps it's time to take full advantage of these changes in the marketplace. A quick comparison may save you as much as 40 percent off your normal premium rates.

life insurance

2008-06-27T01:00:00.000-07:00

In most cases, if you have no dependents and have enough money to pay your final expenses, you don’t need any life insurance.If you want to create an inheritance or make a charitable contribution, buy enough life insurance to achieve those goals.

If you have dependents, buy enough life insurance so that, when combined with other sources of income, it will replace the income you now generate for them, plus enough to offset any additional expenses they will incur to replace services you provide (for a simple example, if you do your own taxes, the survivors might have to hire a professional tax preparer). Also, your family might need extra money to make some changes after you die. For example, they may want to relocate, or your spouse may need to go back to school to be in a better position to help support the family.

You should also plan to replace “hidden income” that would be lost at death. Hidden income is income that you receive through your employment but that isn’t part of your gross wages. It includes things like your employer’s subsidy of your health insurance premium, the matching contribution to your 401(k) plan, and many other “perks,” large and small. This is an often-overlooked insurance need: the cost of replacing just your health insurance and retirement contributions could be the equivalent of $2,000 per month or more.

Of course, you should also plan for expenses that arise at death. These include the funeral costs, taxes and administrative costs associated with “winding up” an estate and passing property to heirs. At a minimum, plan for $15,000.

Other sources of income

Most families have some sources of post-death income besides life insurance. The most common source is Social Security survivors’ benefits.

Social Security survivors’ benefits can be substantial. For example, for a 35-year-old person who was earning a $36,000 salary at death, maximum Social Security survivors’ monthly income benefits for a spouse and two children under age 18 could be about $2,400 per month, and this amount would increase each year to match inflation. (It drops slightly when the survivors are a spouse and one child under 18, and stops completely when there are no children under 18. Also, the surviving spouse’s benefit would be reduced if he or she earns income over a certain limit.)

Many also have life insurance through an employer plan, and some from another affiliation, such as through an association they belong to or a credit card. If you have a vested pension benefit, it might have a death component. Although these sources might provide a lot of income, they rarely provide enough. And it probably isn’t wise to count on death benefits that are connected with a particular job, since you might die after switching to a different job, or while you are unemployed.

A multiple of salary?

Many pundits recommend buying life insurance equal to a multiple of your salary. For example, one financial advice columnist recommends buying insurance equal to 20 times your salary before taxes. She chose 20 because, if the benefit is invested in bonds that pay 5 percent interest, it would produce an amount equal to your salary at death, so the survivors could live off the interest and wouldn’t have to “invade” the principal.
However, this simplistic formula implicitly assumes no inflation and assumes that one could assemble a bond portfolio that, after expenses, would provide a 5 percent interest stream every year. But assuming inflation is 3 percent per year, the purchasing power of a gross income of $50,000 would drop to about $38,300 in the 10th year. To avoid this income drop-off, the survivors would have to “invade” the principal each year. And if they did, they would run out of money in the 16th year.

The “multiple of salary” approach also ignores other sources of income, such as those mentioned previously.

A simple example

Suppose a surviving spouse didn’t work and had two children, ages 4 and 1, in her care. Suppose her deceased husband earned $36,000 at death and was covered by Social Security but had no other death benefits or life insurance. Assume the surviving spouse is 36.

Assume that the deceased spent $6,000 from income on his own living expenses and the cost of working. Assume, for simplicity, that the deceased performed services for the family (such as property maintenance, income tax and other financial management, and occasional child care) for which the survivors will need to pay $6,000 per year. Assume that the survivors will have to buy health insurance to replace the coverage the deceased had at work, and that this will cost $12,000 per year.

Taken together, the survivors will need to replace the equivalent of $48,000 of income, adjusted each year for an assumed 4 percent inflation.

Thanks to Social Security, the survivors would need life insurance to replace only about $1,700 per month of lost wage income (adjusted for inflation) for 14 years until the older child reaches 18; Social Security would provide the rest. The survivors would need life insurance to replace about $2,100 per month (adjusted for inflation) for three more years when the non-working surviving spouse has only one child under 18 in her care.

The life insurance amount needed today to provide the $1,700 and $2,100 monthly amounts is roughly $360,000. Adding $15,000 for funeral and other final expenses brings the minimum life insurance needed for the example to $375,000.

What’s left out?

The example leaves out some potentially significant unmet financial needs, such as

* The surviving spouse will have no income from Social Security from age 53 until 60 unless the deceased buys additional life insurance to cover this period. It could be assumed that the surviving spouse will obtain a job at or before this time, but she could also become disabled or otherwise unable to work. If life insurance were bought for this period, the additional amount of insurance needed would be about $335,000.

* Some people like to plan to use life insurance to pay off the home mortgage at the primary income earner’s death, so that the survivors are less likely to face the threat of losing their home. If life insurance were bought for this goal, the additional amount of insurance needed is the amount of the unpaid balance on the mortgage.

* Some people like to provide money to pay to send their children to college out of their life insurance. We may assume that each child will attend a public college for four years and will need $15,000 per year. However, college costs have been rising faster than inflation for many decades, and this trend is unlikely to slow down. If life insurance were bought for this goal, the additional amount of insurance needed would be about $200,000.

* In the example, no money is planned for the surviving spouse’s retirement, except for what the spouse would be entitled to receive from Social Security (about $1,200 per month). It could be assumed that the surviving spouse will obtain a job and will either participate in an employer’s retirement plan or save with an IRA, but she could also become disabled or otherwise unable to work. If life insurance were bought to provide the equivalent of $4000 per month starting at age 60 until 65 and $3,000 per month from 65 on (because at 65 Medicare will make carrying private health insurance unnecessary), the additional amount of insurance needed would be about $465,000.