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Motor Trade Insurance Terms and Phrases

December 3rd, 2010

Road Risk Cover

This is the basic level of motor trade insurance cover that most traders require to run their business. It allows you to drive vehicles on the public highway for social (subject to policy terms) and motor trade purposes. This cover can be comprehensive, third party fire and theft, or third party only. It will cover you on the highway but also, in most cases, cover you for some general risks associated with a private car policy

Combined Policy

This is a more extensive, and generally expensive, type of policy. It includes what the Road Risk cover does but then you can mix and match with additional covers. Eg Tools and Plant cover, Stock of Vehicles at premises cover, Liability cover, Business Interruption cover, etc. A combined policy is generally associated with a trader having premises (although in some cases they can be covered at home instead).
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Understanding Car Insurance Terms and Conditions

December 3rd, 2010

During your dealings with Georgia car insurance companies, you will often hear the insurance brokers refer to the 25/50/25 rule. What does this mean and how are you affected by this formula?

The first 25 in the equation reminds you that you need a minimum amount of twenty five thousand dollars in insurance to cover liability towards bodily injury for a single person involved in the accident. This is also the amount you could sue for should you be the victim.

In the case where more than one person got injured and wants to claim, the law states that the maximum you can be held liable for is fifty thousand dollars. The 50 in the equation mentioned above represent this maximum liability.
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Terms Relating to Car Insurance

December 3rd, 2010

The following list of terms are commonly used in the field of car insurance. Being familiar with them will help you understand your minimum lawful requirements when it comes to taking out your annual personal auto insurance policy if you are based in the US. The definitions also relate to auto insurance in general across many countries however, so you may find it useful to take time and check if you are familiar with their meanings.:

1. Uninsured/Underinsured Motorist This generally represents the level of cover provided for yourself, and relatives and other occupants that may travel in the insured vehicle, in the event that some or all of you sustain bodily injury in an accident in which the driver of another motor vehicle is legally responsible and does not have insurance (uninsured) or does not have enough insurance (underinsured). In the US state of Nevada, for example, state law requires that this cover must be offered by an auto insurance company to the insured (Statutes 687B.145(2)), but does not have to be accepted by the insured ie. it is not part of the mandatory minimum liability cover required under the law of that state. » Read more: Terms Relating to Car Insurance

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Affordable Health Insurance in Tennessee

April 27th, 2010



Affordable health insurance in Tennessee can be obtained through Cover Tennessee, a volunteer health insurance in Tennessee which is not only affordable to the state, but is also affordable to participants of Cover Tennessee. Cover Tennessee is designed to provide affordable and obtainable health care coverage for Tennessee residents who are without health insurance because they can not afford to purchase a health plan, or because they can afford to purchase a health plan but are continually turned down for health coverage due to a pre-existing health condition or severe ill health.

States across America are struggling to help their residents find affordable health insurance. Some Americans can not afford health insurance at all, while some can afford health insurance but can not obtain it because it seems that all health insurance companies they consult deem them “uninsurable.” Tennessee recognizes that children and adults alike are in need of affordable health insurance as well as coverage for prescription medication; therefore Tennessee has developed Cover Tennessee, a program similar to other health insurance and health care programs developed by other states throughout America.

Cover Tennessee is actually comparable to a gigantic umbrella, housing the five different “parts” of the Cover Tennessee health insurance coverage: CoverTN, CoverKids, CoverRx, AccessTN, and ProjectDiabetes. Thanks to each of these Cover Tennessee components, uninsured individuals, including children, can obtain adequate and affordable health insurance in Tennessee as well as coverage for prescription medication. Also, school-aged children learn about healthy eating habits to prevent diabetes and obesity through ProjectDiabetes.

To find out more information about Cover Tennessee and its various health insurance coverage programs, visit Tennessee’s Department of Commerce and Insurance Web site or give them a call. You can also visit the official Cover Tennessee Web site at CoverTN.org or call them at 866-CoverTN.

Everyone deserves affordable health insurance, and the Cover Tennessee program is working toward making it possible for Tennessee residents to obtain it.

By: Elizabeth Newberry

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Oregon Department of Insurance and Its Activities

April 25th, 2010



The state of Oregon has a Department of Insurance. The Oregon Department of Insurance provides the perfect forum for information on insurance. This is one of the unique features that only a few states like Oregon provide to its residents. It is a lot different as you know when it is a particular state that takes hold of a particular service in the community. It gives the community more assurance that they are investing their money wisely on insurance companies that are under the control of the state. Also, it creates a feeling that should anything turn out behind the expectation, there is a state that they can channel their concern.

The Oregon Department of Insurance was primarily created to give the public accurate information about insurance system. This information includes the insurance company available and the coverage that they offer. This information is supposed to help them make good insurance decisions. This is to avoid much of the common insurance frauds committed by insurers to the expense of the unknowing purchaser of the insurance policy. Aside from this, if you have concerns regarding your insurance policy of the insurance company itself, then the department listens and takes appropriate action on complaints about insurance companies.

The Oregon Department of Insurance takes an active role in the insurance industry. The department creates administrative rules that are related to insurance while the state creates statutes. Another activity that the department undertakes is to inform the public about insurance companies and provide further consumer information and company information. The department receives complaints and sends out forms. It also has forms on rates, consumer complaints, insurer forms and miscellaneous forms. To keep the public updated, the department has a publication that you can view on their website or order in print form. In the department’s website is a license directory through which the public can browse through and get information about companies. To make their administrative rules more responsive to the situation, the department holds out public meetings.

The insurance industry can be confusing and very technical. A lot of people come at a great disadvantage for lack of knowledge about the matter. The public in Oregon should be glad about the care that their state has shown to them especially in the insurance industry. Take advantage of Oregon department of insurance’s work by visiting their website.

By: Anthony Thedford

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Cheap Car Insurance in Denver, Colorado

April 22nd, 2010



Driving in Denver, Colorado can be an incredibly scenic and enjoyable endeavor. Although the traffic can be heavy at times, the scenery of this majestic location is wonderful. Even though many people do enjoy driving around Denver to take in the sights, many people are simply trying to get from one point to another. With all those vehicles on the road, it’s easy to see why car insurance is mandatory in this city.

In addition to purchasing the required levels of coverage of car insurance, many people need to have more comprehensive coverage. In Denver, Colorado vehicle owners can work with their insurance companies to develop policies that cover all their individual needs. By adding and subtracting certain types of coverage, a car owner can expect to find cheap car insurance that meets their requirements.

One type of coverage that many people opt to go without is medical coverage. For someone with a health plan already in place, purchasing this extra medical coverage simply isn’t necessary. Instead they decide to turn to their traditional health plan if they are faced with an injury.

Uninsured motorist coverage is exactly how it sounds. This coverage protects a driver if they are hit by someone who is driving illegally without proper car insurance. Many drivers realize that the chances of this occurring are relatively slim given the strict rules that are in place when it comes to driving without insurance. So to enjoy cheap car insurance rates they forgo this particular type of coverage.

It’s difficult for anyone to say what type of coverage is ideal as it varies from person to person. However the most important thing is that the driver feels comfortable with the protection level they’ve purchased given the type of car they drive as well as their driving history.

By: Deborah Mills

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Low Cost Health Insurance

April 22nd, 2010



Health insurance provides medical expense coverage for individuals as well as groups. Insurance takes care of the bills of doctors, hospital stays, and other related health services. Today, a wide range of health insurance policies are available to choose from. They vary in quality, size of deductible, and benefits covered.

Due to high cost of insurance, the number of uninsured persons is increasing day by day. Low cost health insurance was introduced with the intention of bringing down the number of uninsured in the United States.

If you are searching for a budget friendly option, then low cost health insurance is a good choice for you. Low cost health insurance is inexpensive and is ideal for people who cannot afford high premiums. It offers excellent coverage for children up to age 19, self employed adults, college students, families, pregnant women etc.

As an affordable health insurance option, low cost health insurance offers a way to get medical expenses reimbursed. It helps you to save considerable amount of money on health insurance premiums. Low cost health insurances are the choice of employers or companies as they want to provide better benefits to their workers.

While purchasing low cost health insurance, make sure that it meets your requirements.

Finding the appropriate low cost insurance is one of the most challenging jobs. So it is advisable to seek the help of an insurance broker or an agent who can help you find the best plan that suits your individual needs.

Besides brokers and agents, there are several websites that function as health insurance resource centers. They help you to find low cost health insurance quotes from reputable insurance companies. Ehealthinsurance.com, quotemonster.com, medibroker.com, insure.com and healthinsurancefinders.com are some of the websites that offer the above services.

By: Kristy Annely

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Umbrella Insurance for Greater Coverage

April 22nd, 2010



When the amount of a claim against you exceeds the coverage provided by your home or auto insurance policy, you are saddled with the prospect of settling this excess liability on your own. Your insurance company will not cushion you against this contingency. However, there is a way out. To overcome this eventuality, you can obtain an excess liability policy, or an umbrella policy.

This policy will give you the required cushion against any claim exceeding the amount covered by your normal insurance policy. For example, suppose your auto insurance policy covers claims of accidental pedestrian injury up to an amount of $20000. If an accident does occur, and a claim of $50000 dollars is adjudicated against you, the insurance company will only pay the $20000 agreed upon, and you will have to pay the balance $30000 out of you personal funds. If you do not have the cash or any other liquid asset, then your home, or some other fixed assets could be at stake. You may even be reduced to a state of bankruptcy. This is where an umbrella policy can help you. An umbrella policy will take care of the excess amount of $30000 dollars that you would have had to pay from you own funds.

The umbrella policy expands the coverage offered by your home or auto policy. You can purchase this policy for coverage of up to five million dollars. Moreover, the premium is very low and you may have to pay just $300 to $400 a year for this coverage.

When the amount of a claim against you exceeds the coverage provided by your home or auto insurance policy, you are saddled with the prospect of settling this excess liability on your own. Your insurance company will not cushion you against this contingency. However, there is a way out. To overcome this eventuality, you can take an excess liability policy, or an umbrella policy.

This policy will give you the required cushion against any claim exceeding the amount covered by your normal insurance policy. For example, suppose your auto insurance policy covers claims of accidental pedestrian injury up to an amount of $20000. If an accident does occur, and a claim of $50000 dollars is adjudicated against you, the insurance company will only pay the $20000 agreed upon, and you will have to pay the balance $30000 out of you personal funds. If you do not have the cash or any other liquid asset, then your home, or some other fixed assets could be at stake. You may even be reduced to a state of bankruptcy. This is where an umbrella policy can help you. An umbrella policy will take care of the excess amount of $30000 dollars that you would have had to pay from you own funds.

Further, many companies will not offer you the umbrella policy unless you have your home or auto insured with them. They may also require you to maintain a certain level of liability on your home or auto insurance.

The umbrella policy does not only cover your cars and homes, but also offers personal injury protection which may include false arrest, false imprisonment, malicious prosecution, defamation, invasion of privacy, wrongful entry or eviction. The terms may vary according to each company, and from one state to another.

The umbrella policy is an excellent way to protect yourself against expenses for claims exceeding the coverage provided by your regular insurance policy. It can be bought for a very low annual premium, and proves very helpful in protecting your personal assets from lawsuits and legal action.

By: Joseph Kenny

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Cheap Mortgage Life Insurance

April 22nd, 2010



Mortgage life insurance is a type of insurance that ensures the remaining balance on a mortgage is paid in case of death of the borrower. Cheap mortgage life insurance is available which the borrower can obtain with a little research of the market. Cheap mortgage life insurance refers to a policy with low rates. However, the rates depend on the type of mortgage and amount.

Mortgage life insurance is necessary for all borrowers who are opting for a mortgage. This is done to offer protection to the homeowners and their families against losing their income in case of unexpected death of the earner. The borrowers are required to fulfill their end of the bargain by making periodic fixed payments to the insurance company. These payments are known as the insurance premium and are determined on the basis of several factors. The insurance company in turn promises to compensate the beneficiaries named in the policy in the unfortunate event of the client?s death. This premium is usually included with the monthly mortgage payment. The borrowers do not have to worry about making another monthly payment towards the insurance policy.

Mortgage life insurance provides peace of mind to the borrowers, as they do not have to worry about their families or other dependents losing the house in case of a premature death. Further, getting a life insurance policy for protecting the mortgage is usually not very expensive. As the amount of the coverage goes on decreasing with the mortgage amount, the insurance also gets cheaper. To find out the best and the cheapest mortgage life insurance, borrowers must compare the life insurance prices of as many carriers as they can. This task has become quite easy as it is now possible to request multiple quotes over the Internet by filling out a single form.

By: Peter Emerson

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Insurance Marketing Strategy

April 20th, 2010



If you think you are having a hard time strategizing your insurance marketing, then you are not alone. That is one of the main reasons why some marketing strategies do not work. Some insurance agents simply copy what they see other agents doing, and soon everyone is using the same marketing strategy, which only confuses the customers. Originality becomes diluted, leaving nothing new to generate leads.

If this is already happening in the insurance industry then what you need to do is reinvent your service. Add something or invent a name for the things you usually do. For example, if you have a quarterly audit review of the service offered by your affiliates, checking up on the service offered by those connected to the insurance business is normal. However, extending that knowledge to your clients is an extra plus point for you.

Create a newsletter. Input success stories and pictures and get the customers involved. The idea is getting your customers excited and letting them enjoy being part of the company. Include the latest news and interesting topics that are not necessarily insurance material. You may ask, “What’s the point?” The point is you will keep people interested, and once they are hooked, start slipping those referral sheets in your newsletter. People are bound to talk about things they find amusing and interesting, and this is one cheap advertising method for you.

Create a goal after you’ve made a sincere effort at each of these approaches. Write it down and place it where you’ll see everyday. You will be surprise how well your subconscious works to achieve these goals you have written down. The next thing you know, you will be able to ask your clients for referrals. Naturally, this can take place only after you have created a good rapport with them. You will also be surprised how many people come through for you.

By: Ross Bainbridge

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