First Insurance

If you are just starting to look for first time driver insurance, don’t let the prices shock you. You probably have a lot of questions. How can they charge that kind of money? Is there anything I can do about it? Where can I get a better deal? Here are some answers that may help you.

How can they charge that much money?

Insurance companies make money by being able to analyze risk, that’s what underwriting is, and after paying out all expenses make a profit. That’s how they can stay in business. Statistics show that a 17-year-old driver is five times more likely to get in a major automobile accident then a 35-year-old driver. It all comes down to experience on the road, and that takes some time. In 2006, automobile crashes involving teenagers cost $34 billion, and almost $10 billion of those costs were from fatal accidents. Of the teen drivers that were killed that year, 31% had been drinking according to NHTSA. Statistics are a big factor in prices.

What can you do?

Here are just two areas, out of many, that you can directly affect. These actions will help bring your premiums down. Hands-on training can involve taking classes in a defensive driving school. A school like this can teach you critical skills that will keep you safe on the road. Many insurance companies will lower your premium after you have successfully completed this type of course. Taking a course is one of many ways that you can show that you are a responsible driver. The type of car you drive matters. Before you buy a vehicle check with your insurance company to see if it will raise or lower your premium. Each insurance company has a vehicle rating formula.(Example: 4 door sedans lower the premium while SUV’s raise it.) Because of your age and your limited driving experience, your insurance premiums will be higher than they will be after you turn 25. That doesn’t mean that you can’t lower them using your individual effort.

Where can you get the best deal?

Start looking online, and know what you are looking for before you start. Every state has minimum first time driver insurance requirements, know what yours are before you start searching. Standard first time driver insurance includes liability coverage. Don’t take the first quote you get. Always get at least three quotes from three different companies. Insurance companies charge different prices for the same coverage, because of the underwriters.

First time driver insurance is expensive, that’s just a fact of life. That doesn’t mean that you can’t effect the price you pay in monthly premiums. If you learn about the things that you can do, drive safely, and shop and compare prices for your insurance, you can save money every month.

If you want to find other things that you can do to lower your insurance premium click on student car insurance or look at: http://highriskdriverinsuranceinfo.com/ for more information.

[Recorded: April 2008] Charles Babbage (1791-1871), computer pioneer, designed the first automatic computing engines. He invented computers but failed to build them. The first complete Babbage Engine was completed in London in 2002, 153 years after it was designed. Difference Engine No. 2, built faithfully to the original drawings, consists of 8000 parts, weighs five tons, and measures 11 feet long. OVERVIEW – In London, during the summer of 1821, Charles Babbage, inventor and mathematician, is poring over a set of astronomical tables calculated by hand. Finding error after error he finally exclaims ‘I wish to God these calculations had been executed by steam’. His appeal to machinery, in one of the most resonant utterances of the 19th century, was the start of a new era of automatic computation. It was not only the grindingly tedious labor of verifying a sea of figures that exasperated Babbage, but their daunting unreliability. Engineering, astronomy, construction, finance, banking and insurance depended on printed tables for calculation. Ships navigating by the stars relied on printed tables to find their position at sea. The stakes were high. Capital and life were thought to be at risk. Babbage embarked on an ambitious venture to design and build mechanical calculating engines to eliminate the risk of human error in the production of printed tables. The ‘unerring certainty of machinery’ would solve the problem of human fallibility. His work on the engines led him from …

http://www.youtube.com/watch?v=KBuJqUfO4-w&hl=en

healthreform.kff.org Health care reform explained in “Health Reform Hits Main Street.” Confused about how the new health care reform law really works? This short, animated movie — featuring the “YouToons” — explains the problems with the current health care system, the changes that are happening now, and the big changes coming in 2014. Written and produced by the Kaiser Family Foundation. Narrated by Cokie Roberts, a news commentator for ABC News and NPR and a member of Kaiser’s Board of Trustees. Creative production and animation by Free Range Studios.

http://www.youtube.com/watch?v=3-Ilc5xK2_E&hl=en

Buying your first home is a big deal. Its a massive financial commitment and one that might be the biggest investment you make in your life. Making a wise investment can set you up for life. making a bad investment can put you on the back foot and have you struggle financially for life. Getting insured is an important part of buying your first home. You need to be very smart about it and resist the temptation of cutting corners.

Most mortgage brokers will insist on certain terms of insurance. After all, the home you buy also has risks for them since they supply you with the mortgage. Home and contents insurance is often referred to as the same thing, but its really two distinct types of insurance. One is a must, the other is options.

Home insurance or buildings insurance refers to the insurance for all the fixed parts of the building. This includes all fixed structures as well at the land on which the house sits. This type of insurance is so important simply because replacing any of this will be extremely expensive, Imagine a fire or a hurricane destroying a large part of your home. Some times the entire structure has to be rebuilt. In that case, building insurance will cover you and from that point of view its extremely important as it keeps your investment safe.

Contents insurance is that part of your home insurance policy that covers the contents of your home. Its basically all the “movable” parts of the building and includes furniture, electronic equipment and virtually everything that you can think of. Everything you insurance under your contents insurance however comes at a price. It is expensive as it has to protect you against theft, damage and a variety of things. Claims are usually high which is why insurers tend to load these premiums.

If you are a first time home buyer, then contents insurance may be something that you can save on. If you haven’t got a lot of possessions yet, then maybe you can look at either taking out a “bare-bones” policy or maybe even just leaving it altogether. Do the maths and weight up the replacement cost against your contents insurance policy and see where you stand.

Many people pay for contents insurance month in and month out without ever claiming anything. Many people pay hundreds of dollars in insurance every month with possessions that hardly justify the costs. Insure what’s important to you and be smart about your money.

Are you looking for building contents insurance? See my blog and read more about saving on building and contents insurance.

If you are representing as an Insurance Agent for any Life Insurance Company in India you may be aware of the recent decision taken by. The decision taken by Insurance Regulatory & Development Authority is as follows:

“In a first of its kind measure, Insurance Regulatory & Development Authority has decided to penalize agents if the insurance policies are not renewed. The move, aimed at curtailing wrong selling, will entail commissions being retracted from agents and credited to the policyholders account. And such not renewed policy to be treated as Single Premium Policy”.

Being full-time Insurance Agent for ICICI Prudential Life Insurance Company, I personally welcome this decision. This will bring more transparency in the Insurance Industry.

Presently what happens the Insurance Companies recruit the sales team, called as Unit Manager or Development Officers or Sales Managers to recruit and support the insurance agent and in the process they are getting handsome rewards in the form of incentives in addition to their salaries. To earn extra incentives these sales force recruit as many as more insurance agents without looking to their merit. I have found that every such sales personnel recruits almost 100 new agents every year but out of that only 10 to 12 remain in the Industry as regular agents. No one can stop this practice as it is not written on anybody face that whether he will work as agent regularly or quit after some initial sales. Insurance companies are also promoting this practice to increase their sales quantum.

Meantime what happen so many persons gets recruited as Insurance Agents, they bring their own policy then bring the policies of their relatives and friends and after some time they stop introducing new customers due to lack of knowledge about the finance industry. In the process employed, self-employed, unemployed and housewives are get recruited as an Insurance Agents. Most of them do not acquire require knowledge of the industry nor they are serious about their job as an insurance agents. They look it as their income generating tool, earn some commission, pass on the part of it to customers and enjoy from the commissions they get and then quit the industry because they could not full-fill the norms of bringing 12 policies in a year. It’s ultimately results negatively on the insurance customers. They become orphan and stop receiving regular after sales service. It has also created lot of difficulties and bad impression of the Insurance Industry. And then came saying “Insurance is sold and not brought”.

Though the insurance policy is very much essential for every individual, in the world to protect their family members, in case of untimely death of individual due to any reason whatsoever.

Actually, as far as possible, the job of Insurance Agents or even Mutual Fund distributors should be looked as a full-time career opportunity and it should be encourage by all regulatory bodies. It will boost the employment generation as well as customers will get good after sales services from qualified full-time agents. The percentage of laps of policies will reduce to sizable extent.

In the interest of active Insurance Agents for any life insurance company I make following further suggestions in this regards:

1) As regards to recovery of commissions on the first years commissions paid the agents, in case of laps of insurance policy in 2nd year due to no payment of renewal premium will create lot of problems for the insurance companies, because there is high percentage of agents quits after introducing 1 to 5 policies, they get paid their commissions immediately. Then it will be headache for the Insurance companies to recover the commission from such agents who have already quit their agency business. It will ultimately reflect on the performance of the company and regular premium paying customers shall be sufferer due to increase in expense ratio of the company. After all the companies shall pass on the expenses on the customers and they are not going to bear it from their own pocket.

2) Initial charges, especially in case of Unit Linked policies, are very much ranging from 10% to 60% in the first years premium. And in subsequent years, on renewal premiums it is in the range of 1% to 4%. Out of these charges the insurance agents are paid commissions in the range of 5% to 40%. The charges of different Insurance companies are not unique and they differ from company to company and product to product, it creates conflicts in the minds of customers.

3) I suggest that for all the regular premium insurance policies of all insurance companies the charges should be unique. As in the case of Mutual Fund (it is 2.25% entry load – if invested through the distributor).

4) The rate of commissions to the agents should also be unique in all insurance companies.

5) I suggest that charges should be divided over the period of time depending on the length of policy. The charges should not be more than 3% to 5% on yearly basis and rate of commissions to the agents should be in the range of 2% to 4% for entire term of the policy.

6) To encourage the full-time and regular insurance agents they should be paid trail commissions on the Assets under Management on regular basis at certain percentage say @ 0.5% yearly, on the total Assets under Management on monthly basis, to meet the agency expenses.

7) The insurance business brought in by the outgoing agents should be transferred to such full-time insurance agents who will provide after sales services to the existing customers and they should get renewal commissions for their services and it should also be treated as part of Asset Under Management for calculation of trail commissions.

The trail commission is require because at present in Unit Link Insurance Plans policies are having surrender value of 96% after payment of 3 years premium and many customers opt for non paying the future premiums.

9) There should be restriction on the expense ratio of the Insurance Companies on the basis of their fund size.

10) The other charges like policy administration charges, fund management charges should also be identical for all the companies.

11) It will encourage healthy competition among the Insurance companies and skill of the fund managers will have utmost priority. It will ultimately beneficial to the policy holders.

12) It will also encourage healthy competition among the insurance agents because long-term relationship with the customers will have the great value.

13) It will also helpful to the policyholders because they will receive after sales service from somebody.

14) Active insurance agents should be treated after completing minimum 3 years agency business.

15) There should be certain criteria of Minimum laps of policies for such agents.

16) It will ultimately beneficial for active insurance agents as well as end customers.

If you are an Insurance Agent/Advisor for any life insurance company you are welcome to submit your views and opinions on this article. Please circulate this article to you maximum friends.

I further appeal to all insurance agents to get united to fight for our rights. If we get united we can provide good services to the customers and also get benefited ourselves.

Please refer this article to other insurance agents irrespective of the company for which he or she is representing.

Sadanand Thakur
Insurance & Investment Advisor
Thakur Financial Services,
204, Swami Complex, Bazar Peth,
Chiplun-415605, Dist.: Ratnagiri, Maharashta, India

Here we go then!! My first steed of 2010, and I managed to resist the temptation of going for something huge and crazy! I instead wanted to focus on this awesome 125 that Streetbike had loaned me over Xmas to have some fun on………and wow did it surprise me!! Check out my first day reviewing this bike!

http://www.youtube.com/watch?v=AAeZwhfvNh4&hl=en

the first minuts of the movie is from the original track buti switched out the music with the soundtrack from my san quentin cd…i forgot to put my name in the credits on this one…but u belive i made it don’t yah? =)

http://www.youtube.com/watch?v=T7zSstHWRAs&hl=en

In accordance with the law, which is driving the vehicle on the road must be a certain amount of auto insurance are protected. And while you believe that your ability to drive, but you do not get coverage for you and your vehicle, often when an accident with your vehicle is very likely to be violated by another party. Even in these situations, you want to be insured must be covered, and for young drivers, which can be costly. That’s why you need a cheap car insurance for young drivers.

Shopping for insurance these days a lot easier than it was in the past. Gone are the days when you’ve had countless calls and even visits to offices of the company, talk with their representatives and give them all kinds of information, just to cite one of them. Now with the power of the Internet at your fingertips, you can go online and within moments you can access quickly and easily find the possibility of numerous offers from different companies. This not only time, but it is more than likely save you a lot of money if you’re looking for cheap car insurance for young drivers. Here’s how to save money.

The main advantage of the Internet is aware of local companies, because of all the competitors of this company have received from your company to fight, they will always try to save just a little more range for which only a little lower than the other guys on the list. Remember, low price is not always well covered. Take your time and see what they actually go to you and compare it with other companies is sure to get cheap insurance cover right.

Another major advantage of using the insurance, you can find online is that they often have to wait 24 hours or support will answer your questions and help the right. It is very important to many of us in those days. It makes us feel as if the company is willing to provide us in case anything should happen, and you’re involved in an automobile accident. Accidents do not occur during working hours!

Go to the network, providing information such as make and model of car and year, and some basic information about themselves, and they should be able to provide quotes in a few moments of your time. If you want low cost car insurance for young drivers to be online and get cheap auto coverage now.

About Author:

Go to my page to view more about Car-Insurance: http://www.insure-info.co.cc

Insurance buying may be one of the many difficult things you have to deal with in this world, but buying insurance for your first time should not be one of them. In the next few paragraphs, I will offer some insurance buying tips which will hopefully remove the fear of first time insurance buying.

When you want to buy insurance or you’re looking for insurance quotes for auto, life, travel or health you can find some great rates on the internet. Insurance cover can provide peace of mind and also financial coverage in the event that something untoward happens.

When looking for individual health insurance or other insurance quotes remember that “Individual” refers to the person buying the coverage, but the individual health insurance covers your whole family. You may have to pay more for your health cover than if you worked for a large organization which provides cover as part of your employment package.

Many people today have opted to be self-employed which means they should consider acquiring individual health insurance for them and their families. Most people consider it a necessary expense that will actually save them money in the long-term. Few people can afford to be without income while they recover from an accident or major illness.

If you are not sure what sort of cover you need, the internet is a great research tool, or for the personal touch, you should consult an insurance broker or licensed insurance agent. That said, shopping for insurance online can save you anywhere from 15% to 45% depending on the type of insurance and the company. There are several excellent insurance sites online so why not get clicking and do plenty of comparisons.

After familiarizing yourself with the types of cover available, give yourself enough time to shop for the right types of cover with the right company at the right price. If you wait to the last moment, especially with wedding day cover, you run the risk of not being able to purchase the type of policy you need.

If you already have an insurance policy its best not to switch insurance providers before your insurance comes up for renewal. If you do you’ll almost certainly have to pay a penalty based on the amount of time left on the existing policy. Only change providers when a policy comes up for renewal unless a change in situation forces it.

However, don’t let purchasing insurance for the first time be intimidating. Remember these insurance buying tips. Educate yourself about the types of cover you need. Allow enough time to compare products to give you the best possible results. Determine your needs. Finally, purchase as much insurance as you can afford but not so much that you can’t meet the premium payments.

Peter Fisher is an expert Author and webmaster for www.TheMoneyWorldOnline.com where you can research the best ways of getting the right Insurance cover for your needs at any time of day or night.

Insurance. What would we do without it? Though it seems impossible, there was a time when insurance on anything didn’t even exist. Unfortunately, the early beginnings of insurance are unclear. Over the centuries there have been key writings uncovered that give us some ideas of it’s beginning s. But as to an actual moment in time when the first item was insured, no one really knows.

There are theories that insurance goes back to the early days of the Babylonian traders at around the 2nd millennium BCE. They created a system which was recorded in the famous Code of Hammurabi around 1750 BC. This system was practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment he would pay the lender an additional sum in exchange for the lender’s guarantee to cancel the loan should the shipment be stolen.

As a business itself, the first recognizable form of insurance started in Great Britain in 1666. This was in reaction to the “Great Fire Of London.” Because of this incident fire became a growing concern in England. Another major concern in England during the time was marine insurance because of England’s position in the world of sea trade. Some of the early insurance companies of the time were The Sun Fire Office, Royal Exchange Assurance and Hand In Hand.

As was stated above, there were some early writings that point to the first insurance companies and types of insurance. Below are a number of these writings.

From 1680 the following memo was found. “Mr. Newbold, London’s Improvement and the Builders’ Security Asserted, by the apparent advantages that will attend their easie charge, in raising such a joint-stock as may assure a Re-Building of those Houses which shall hereafter be Destroyed by the Casualties of Fire.” This memo appears to point to the beginnings of fire insurance. There were many other memos found during that same time period from 1680 to 1700 all related to fire insurance companies.

In 1697 writings were found to show the beginnings of an insurance company created to insure the welfare of widows and orphans. This appears to be the early beginnings of life insurance. During the period of 1697 to 1762 many other memos were found relating to the establishment of life insurance. Some of the early known companies are The Society For Equitable Insurances, The Perpetual Assurance Office and The Hampshire Society. It wasn’t however until about 1850 that the first evidence of life expectancy actuary tables were found.

The first evidence of insurance for businessmen was memos found going back to the year 1601. Many different kinds of businesses were mentioned in these memos such as small businessmen, mining companies and ship building companies. Evidence also shows that the British took out insurance on their enemies’ ships for the purpose of collecting on them after they were destroyed by the British Navy.

In the next article we’ll go over the various types of insurance that one can purchase today.

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Michael Russell

Your Independent guide to Insurance [http://insurance.for-home-and-office.com/]

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