Thursday, October 8th, 2009
by Andy Zain
We all have to follow the law when driving on the road otherwise we face many penalties such as tickets and fines, so when it comes to car insurance in order to get the most out of our money then we need to do some car insurance comparisons.
Have you ever jumped the gun and bought something without comparing prices? When you are in a store and the sales person makes it sound so good you think it is a deal that you can’t pass up but then days later a bill comes up and the money isn’t there so you second guess why you made that impulse decision or you walk into another store and see the same product for a substantial amount less.
Car insurance is a neccesary thing for anyone that has a drivers license so why not do it the smart way and compare our prices before we jump and buy the first plan presented to us.
A little bit of money each month adds up in the long run that money can be set aside and there for an emergency or used for something else. Isn’t spending a little time calling around and asking prices on different policies better than paying a lot of money out in the end? The money saved will pay for the time spent.
Insurance money is referred to as aggressive salesmen they make their paycheck off of your policy so naturally they want you to spend the most you can so they get paid but sometimes they aren’t all honest and tell you the truth, the best way to avoid this is by comparing them against each other. If you can get one plan for ninety dollars a month then another company offers you the same thing for 40. 00 less then over time you are saving a lot of money.
600. 00 dollars is a lot of money, think of how far 600. 00 dollars could go or what you could do with an extra 600. 00
You can compare using a variety of methods such as talking to other consumers about their companies, how they like them and what their policy consists of this will help you get started on the right track to saving money in the end. Generally by talking to people they will give you honest views on what they pay and what their policy contains.
Tags: auto insurance, automotive, autos, car, insurance, quote, quotes, rate, rates, rating
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Thursday, October 8th, 2009
by Andy Zain
We all have to follow the law when driving on the road otherwise we face many penalties such as tickets and fines, so when it comes to car insurance in order to get the most out of our money then we need to do some car insurance comparisons.
Have you ever had a little extra money and acted too quickly and bought something you really didn’t need but then regretted it later on? Many of us have bought something on impulse but there are ways around that like comparison shopping. When you buy something on impulse you lose money especially if it sits on a shelf and just takes up space, the money could have been used on something more useful.
We all have to have car insurance in order to drive it legally so we know it is a bill that we must have, it is a necessity we all must have it so do you want to buy the first insurance policy that you see or do you feel it is important to compare?
When we compare insurance companies we do many things such as save money, heartache down the road. The money that you save can easily be used on something else or better yet a bill that needs to be paid off. If you take the time to do it right the first time and call around and compare then the money saved in the end is well worth it.
Insurance companies are known as good salesmen they make their salary off of your commission or off of how much they sign your policy for. You may be able to go to insurance company “A” and get a 20, 000 dollar policy for 89. 00 dollars a month while you can go to insurance company “B” and get that same policy and a smaller deductible for 50. 00 dollars a month. If you add those savings up in a 12 month period you have just saved 600. 00 dollars.
Wow! That is a lot of money, think of all you could have done with that extra 600 dollars.
You can compare using a variety of methods such as talking to other consumers about their companies, how they like them and what their policy consists of this will help you get started on the right track to saving money in the end. Generally by talking to people they will give you honest views on what they pay and what their policy contains.
Tags: auto insurance, automotive, autos, car, insurance, quote, quotes, rate, rates, rating
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Thursday, July 30th, 2009
by Amy Nutt
Home insurance provides coverage for homeowners against the risk of loss that may occur from damage, fire or theft. Home insurance rates look at the probability that a loss will occur based on the claims experience of the insured, who is the homeowner.
Home insurance uses individual underwriting standards to assess risk. Risk is the potential for a reduction in value that may occur. When a number of these occurrences happen for a particular insured, the insurance company either raises the rate or drops coverage. It is the hope of the insurance company to not have to pay claims and employ assessment factors to understand better the likelihood that a homeowner is exposed to loss and rates it accordingly.
Certain factors beyond the individual homeowners claim experience include zip code ratings, type of home owned, whether any commercial activity takes place in the home, and the home’s overall value in comparison to similar homes within the area. These factors give the insurer the information needed to calculate the probability off loss and adjust rates accordingly.
Hazards are factors that can lead to a loss. There are three hazards, physical or tangible hazard, moral which is character and morale or indifference. For example homeowner A who buys home insurance policy for a home that is rented out to tenants will pay a higher rate than homeowner B buying home insurance on a similar home in which she resides. That is because homeowner A has a higher morale and physical hazard present in the home than homeowner B does. The tenants are not the owner and may not hold the same regard for the home as the homeowner does. This could lead to physical damage, deterioration or even theft.
A census or zip code assessment looks at the instances of crime and vandalism that occurs in a given area. Homeowners purchasing home insurance in high crime areas face higher premiums than homeowners who live in outlying suburbs. There is some controversy over this type of practice and was the basis of a group action lawsuit in Milwaukee in the late 1980s against American Family Insurance Company. The results of the suit led to changes in the underwriting practices in certain minority communities in the City of Milwaukee.
The likelihood that a loss occurs and the probability associated with it results in the rating factor. The rating factor may be set based on community experience or standards and may be reduced over time where individual claims experience results in better a rating.
All insurance provides an indemnity benefit to reimburse an individual for the value of their loss. An insured who believes that the purpose of insurance is to profit or get more than the fair market value of their property do not have the appropriate understanding of what insurance is for. Insurance is not for making a person rich but rather to keep them from becoming poor. To provide piece of mind risk ratings reflect experience, probability and the presence of other measurable variables that can be statistically tested.
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