First Insurance

For some of us we may assume that once our car has been involved in an accident and our insurance company has decided it is beyond economical repair and so pays out on the claim to replace the vehicle, that your old car would be transported to that old scrap yard in the sky, never to be seen again.

Well for some cars, that is exactly what happens, but there is a huge amount of vehicles, that are offered back out to the trade to be repaired and put back on the road. So when is an “insurance write off”, actually deemed as uneconomical to repair? Surely if it was not economical to repair as an insurance payout, why is it offered out to trade at a later date, as if it is?

The answer lies within the margins to repair cars. In better words, if you are in the trade, already have the required equipment, have the knowledge and the tools, it is very possible to repair insurance write offs and make a profit. However, if you are a private individual and take your accident damaged car to a dealer, who expects to make a good profit from the insurance company for the repair, then this is another matter.

Most insurance companies’ auction off their insurance write offs, but not just to anyone, only to the trade. In many cases, these cars are in fact dismantled and taken off the road, by the licensed breakers who buy them. But it is also true, that some vehicles are bought, repaired and then sold on as a safe car. These cars remain on the insurance write off register, to state at some time they were off the road, to protect future owners, some X category cars, do not and no one would ever know they had at one time, been part of an insurance claim.

These X category cars, are the best to buy if you can get a hold of one cheap, because they have the least amount of damage to them and in some cases no damage at all. Often these cars have been stolen and recovered after the insurance claim was paid out. So if you are looking for that insurance write off to buy and do up yourself, be aware that these cars are no always cheap.

Unless you are in the trade, you are unlikely to be able to buy a insurance write off car direct. It is most likely, that you will need to buy the car from a licensed breaker, who has bought the car first and then added his margin of profit.

You will then need to ask yourself, why this person in the trade has chosen not to put the car on the road himself; after all he could make good profit from it. You should also consider the amount of time it will take to repair the car, and how that vehicle will be deprecating in value throughout. It may hold a good profit now, but will it in 6 months, if the only time you are working on the car is spare weekends.

The truth is, there are some people who make good money, fixing up insurance write offs, but most people do not make their money back, when they consider the tools, parts, electricity and incidentals they had not planned for.

Mark is webmaster for Insurance Write Offs and Insurance By Car

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Now, I’d like to offer you two special reports at no cost. One is “5 Things To Do When Shopping For Car Insurance,” and the other is “5 Things To Avoid When Shopping For Car Insurance.” Each one is a $9.95 value, but free to you when you sign up for my newsletter at the website address below.

P.S. WARNING!! Do Not Buy Insurance, or Submit an Insurance Claim Without Visiting This Website!

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If there is one thing that people hate to do, it is to shop for health insurance. The truth is that when people think of looking for medical insurance, the first thing that comes to mind is hours and hours of sitting on the phone. They also think of having to deal with brokers or agents who are trying to sell them certain plans. On top of this all is the endless paperwork that people expect from their insurance plans. Yes, the truth is that health insurance can be incredibly difficult to deal with, especially if you are not insured through your employer. Most people dread going through the medical underwriting process, in which a specialist looks at your medical history and develops rates.

The first thing you have to understand about health insurance and the medical underwriting process is that the insurance business is a business, which means that there are certain steps that they must take to assure that they are making the best decisions for their company. You may not want to hear this, and you may not even feel that this is right, but this is the way the business is run. In other words, instead of getting angry or upset about it, your first step should be to make the process of getting insurance as easy as possible.

If you think about the medical insurance process, as well as pains such as medical underwriting, and decide that there is no way to make these processes easy, then you are giving up too soon. What you need to do is make sure first of all that you are using the internet for your research. There is no longer any reason to go to the broker or agent office and sit there and wait. You can do all of the research you need from the comfort of your home. The truth of the matter is that you will probably get better results to.

What you also need to know is that you can make the medical underwriting process easier for yourself by getting free quotes online. What you need to do is first gather the necessary information, such as your income, your expenses, and your medical history, and then you need to get your free quote. It’s important that you are prepared and that you have accurate information. Then you will be ready to get your free quote. As a matter of fact, you can start right now.

If you need assistance in locating particular coverages at a pre-determined price, we can help you save up to 50% on your health insurance monthly premium.

Sean L Johnson is a journalist for Health Insurance Buyer a referral service that refers consumers to the insurance carriers that can best fit their wants and needs. Get a free reduce quote today, you can save up to 50% on medical insurance.

If you are a first-time driver, locating reasonable auto insurance can be one of the major challenges after the initial purchase of your car. There is no shortage of car insurance companies standing ready to offer you competitive rates as well as different kinds of insurance policies. There are two types that are most readily used by motorists: liability and full coverage. These two types of coverage represent the bottom line. Any other particulars of certain policies are built off of these. What are some of the differences? Is one better than the other?

Each state has its own guidelines and specific provisions that govern the use of car insurance. The regulations declare what minimum amount coverage is required by law. If you want to drive legal in most of the states, you will need liability insurance coverage. Liability insurance coverage provides the motorist protection against damage and injuries which were caused by you, including property damage.

This type of coverage is described in terms of numbers. Each of these numbers represents the components of the liability coverage. They are written like so: 20/60/10. The first number is the maximum amount your insurance company will pay to cover bodily injuries sustained by a single person, per accident. The second is the maximum amount that your insurance provider will pay for every injury caused by a single accident. The third number is the total amount that will be paid to cover property damage.

With full coverage you have far more provisions available to you. Yet there is a misconception that if you have “full” coverage, that all circumstances will be covered. This is not true. Full coverage includes two additional areas or components of insurance coverage besides liability called collision and comprehensive. Full coverage has a degree of flexibility about it. You do not necessary need both of these additional components. For example, comprehensive can be added by itself. In order to have to collision coverage you must have comprehensive.

With comprehensive coverage you have protection against other forms of damage such as those that come from natural disasters, fire, vandalism, and theft. For those who add collision coverage, they do so because they want protection in auto collisions.

There are clear differences between liability and full coverage. What type you decide to purchase depends on different factors like whether your car or truck is new, used, or under financing. It may also be a matter of how much coverage you want to buy. The costs will be higher if you opt for fuller coverage rather straight liability. If there are other features or special areas of coverage provided by the individual auto insurance provider, you may decided to pay for some parts but not others.

It is important to understand what type of coverage you need as well have a working knowledge of other types of coverage available and what each one offers you, the motorist.

Joe Kenny writes for various insurance portals, visit them today for cheap life insurance [http://www.ukinsurancesearcher.com/] and car insurance and even great home insurance [http://www.homeinsurancesearcher.co.uk] quotes

You’ve probably heard the phrases first party and third party in relation to insurance, right? Do you know what they mean? Perhaps. But, for the sake of those who may not, let’s chat about it.

An insurance policy is a contract. A contract is comprised of several elements: a meeting of the minds, an offer, an acceptance and an exchange of something of value. In the case of the insurance policy, the company offers x-y-z coverage for x dollar premium amount. The insured accepts the offer and pays the specified premium in exchange for the promise by the insurance company to pay for whatever damage may occur in accordance with the terms of the contract.

In an insurance contract, the insurance company is the one that draws up the agreement and, thus, is considered the second party to the contract. The insured accepts the drawn up agreement and is considered the first party to the contract. All coverage directly relating to the insured are first party coverages. In simple terms, first party is about you and your stuff. A third party is an entity not a direct party to the subject contract but who may have rights to benefits of the subject contract. In other words, if the contract promises to protect you (first party) against damages you cause to another person or entity (third party), that other person or entity may be eligible to receive monetary benefits from your policy.

When you obtain an insurance policy, you are securing coverage for yourself and your things (first party) and coverage for the other guy (third party). Since first party coverage is about you and your things, examples of first party coverage in an auto policy are Collision, Comprehensive (for non-collision losses like vandalism, theft, fire) and Medical Payments. In regard to Medical Payments, there are a number of States that have No Fault Insurance Laws in force and their Medical Payments coverage falls under what is called Personal Injury Protection (PIP). These No Fault States each have their own versions of Personal Injury Protection coverage which typically provides a broader scope of benefits well beyond simple medical bill payments, and may also include wage loss, substitute services and even death benefits. PIP is also a mandatory coverage in No Fault States.

Third party coverage is known as liability coverage. Remember, third parties are those people not a party to the insurance contract but who may be beneficiaries of the contract. So, liability coverage is for events where “the other guy” suffers a loss for which you are legally liable. A typical example is the auto accident where you rear-end someone. The liability coverage under your insurance policy are there to pay for damages and injuries you caused up to the limits of the policy per the terms and conditions of the policy. These coverages for the other guy are mandatory in all States and each State has requirements for minimum limits that you must carry on your policy. You can purchase higher limits but you must have at least the minimum.

Finley Keller has spent nearly 30 years in the insurance industry, beginning as a licensed agent with a CLU then moving into claims. Auto, homeowner, worker’s comp and other liability-only type policy claims. Casualty and material damage. Her last ten years were spent in SIU (Special Investigative Unit), working with fraud detection. The last four years she was manager of SIU, responsible for working fraud cases and the training of employees in compliance with State regulations as related to fraud. She is a retired member of NCFIA, Northern California Fraud Investigators Association. She has a Senior Claims Law Associate (SCLA) designation through the American Educational Institute, Inc.

She writes about insurance in an effort to educate and assist people in understanding the basics and key principles of insurance. Please visit The Insurance Detangler

If you are a newbie to the world of auto insurance, fear not! If you follow certain steps, finding an affordable car insurance rate is perfectly feasible and less troublesome than you think. First, understanding insurance lingo is only the beginning toward an affordable auto insurance rate. There are great articles and sites that will offer definitions for common terms like deductible, liability, and other words that impact your affordable car insurance rate.

Once you get a grasp on the lingo, the next step toward finding an affordable auto insurance rate is to know what coverage options are available to you, and then determine what coverages you would like. Once you have that list, you can then compare it to what you need. As you look at different quotes, you will know what you have budgeted toward your auto insurance, and you can then find the quote that gives you an affordable car insurance rate along with the most coverage for that rate.

Also, asking about discounts is a great way to create a more affordable car insurance rate. Most auto insurance companies offer discounts for things like good grades, age, and having multiple insurance policies, so you may be able to get more coverage with discounts as you get a more affordable car insurance rate through those savings.

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Congratulations on the pending purchase of your first home! Besides the mortgage and taxes you will now be paying, you are also going to need to fork out some money for homeowner’s insurance. This insurance option is required by your mortgage lender, so make sure you understand what you are buying and how to use it if you should need to someday.

Why Homeowners Insurance Is Needed

Homeowner’s insurance is necessary to cover damages to a property for unforeseen events. Your lender will require it, because without it they could lose all of the money they invested into your home if you had a fire or other disaster. You need it because it protects your home and items within the home from damage or theft. It also protects you from liability for injuries that happen on your property.

Some insurance policies also cover living expenses if your home should become unlivable after a disaster. For instance, if you are forced to move to a hotel after a fire, your insurance policy may cover that cost, as well as some of the cost for the food you eat while repairs are underway.

How to Find Coverage

To find homeowner’s insurance, talk to your favorite Canada insurance provider. Most of them will offer homeowner’s policies. However, do not purchase a policy from the first lender that you find. Take some time to shop around, because the cost of home insurance varies tremendously from provider to provider. You can also talk to your mortgage broker or real estate agent to see if they have any good ideas about insurance providers. Friends and family who are homeowners may have names for you as well.

What Is Covered?

Most basic home insurance policies cover the same things. A basic policy will cover your belongings and your home against damages due to natural disasters, accidental fires, and theft or vandalism. These types of policies typically carry exclusions, including things like floods or earthquakes. To have these situations covered, you will need to purchase additional coverage or a rider to add this policy.

Discounts Are Available

In light of closing costs and the other expenses that surround a new home purchase, insurance is not typically a big expense. However, there are many things you can do to lower the cost of your premium if you need to. One is to increase your deductible. Canada insurance providers always lower premiums when a deductible is increased. Choose a deductible amount that you could pay if you had to, but make it as high as is feasibly possible if you need to lower your insurance cost. You can also get a discount by installing a home security system in your home to deter thieves. Insuring your home with the insurance provider that also carries your car insurances or some other insurance product will also earn you a discount.

Always Check Maximum Payouts

When shopping for home insurance, make sure that you check the maximum payouts on the policy. For instance, your garage may be covered, but it may only be covered for up to $2,000 worth of damage. You need a policy that has adequate coverage, because if you do have to make a claim someday, you do not need to be left holding a substantial bill. You will have many other expenses after a disaster to deal with, so make sure your insurance covers what it covers adequately.

Home insurance, travel and auto insurance [http://www.carinsuranceinfo.ca/] provider offers a wide array of insurance products and services to protect Canadians, their businesses and their assets. Key operation in Ontario and Quebec. Get your free insurance quote.

Are you going to drive a car for the first time and do you want to take a car insurance? Then you should do some ground work so that you can find an auto insurance provider who can give you a inexpensive auto insurance. If you go for auto insurance online, then you can probably save 10% to 20% of the premium that you would be paying. This amount would other wise goes to the middleman. If you need to find the right insurance, then you should dial to 3 or more insurance companies and get the best low cost insurance.

If you feel to find a affordable car insurance, then you should spend some time by answering the questions asked when you apply for the online car insurance. That would probably spot the best insurance product for your criteria.

There are lot of websites that compares all the auto insurance companies and their quotes. You should analyze those quotes well and also verify the insurance coverage levels that would be assured in the policy.

Alternate Ways:

There are alternate ways to take a cheap policy for first time drivers. You can take the policy upfront and then pay the premiums later. But you have to pay heavy interest for the same which would make the policy more costlier.

Some people would plan to buy a old car which would make the car insurance very cheap. But the maintenance of old cars would burn your fingers and you have to spend a lot of money for repairing it.

What is the next step- How to find the cheap auto insurance for young drivers?

Analyze the comparison of various insurance companies available in the related websites.

Click here to get the details of —>> auto insurance for drivers. You can also find other insurance products in http://www.cheapcommercialinsurance.net/.
Balajee Kannan

Understanding your insurance coverage is always important, but it’s even more critical when you are a landlord. The responsibilities and duties that accompany being a landlord require that you are well aware of the insurance protection you own for yourself, your property and your tenants.

What is landlord insurance and why do I need it in the first place?

Landlord insurance provides cover for property owners who rent out their homes or buildings and generate income by doing so. Landlord insurance policies range in coverage protection but usually cover:

- Your rental building

- Legal expenses

- Other structures on your property (i.e. garages, barns, etc)

- Personal property

- Fire damage

- Theft and vandalism

- Loss of rental income

There is no shortage of reasons why you should have a landlord insurance policy but here are just a few of them:

- To protect you and your property from damages- If your building needs repairs after a storm, damage caused by a tenant or after being vandalized, insurance will cover your damages.

- To protect yourself from personal injury claims-If a tenant or a visitor to your property is injured then you won’t have to face personal liability if you have proper landlord coverage.

- To provide liability protection- Aside from personal injury claims, claims against you can be made in others forms too which is why having general liability protection is warranted.

- To cover legal and court costs- Defending yourself against liability claims can be very expensive and take away from your ability to run your property. Having insurance that will pay for your legal fees can help you effectively deal with any claims made against you without costing you a thing.

Before you purchase a land insurance policy you should first consider how much coverage you will need. How much is your property and its contents worth? How much income would you lose if you were unable to rent for an extended period? How much would it cost to totally replace the entire building if it were destroyed? Asking questions like these can help you to properly assess how much coverage you need.

You should also shop around. Getting insurance protection that you can trust and depend on is important, and so too is finding an insurer who offers affordable policies. Use personal referrals and the internet to compare prices on land insurance policies and to get the best prices.

Choose the right landlord insurance policy, choose 1Cover.

A Landlord Insurance Policy can save you the stress of owning an investment home. So get cheap landlord insurance today.

Submitted by Sally Desh

When you buy a car, you need to get insurance for it. It’s as simple as that. You would be breaking the law if you didn’t and yet no one ever really thinks about a time when there was no such thing as car insurance.

So how long ago did it first come about?

Its origins lie with the ancient Chinese – long before the modern car was even thought of. They used to insure their ships against anything that may happen to jeopardise the vessel or the cargo that was on it.

When the modern motor car came along it would be some years before car insurance was required for it. The car first appeared as the 19th century turned into the 20th century, but since very few people could afford to buy one, they were considered something of a luxury at first. Insurance wasn’t even thought of.

Perhaps unbelievably, the First World War would have to take place before any thought of insurance came about. As the 1920s got underway, more and more cars were starting to find their way onto Britain’s roads.

Now whenever you buy something new, it takes you some time to get used to how to use it. The situation was no different when the motor car first arrived en masse. As you might expect, this led to more than a few accidents starting to happen.

Most people know that there are some forms of insurance that are required by law, and some that are optional. This is how car insurance was to begin with. Policies were created and offered for sale when all these accidents started happening, but they didn’t become a legal requirement until around 1930.

In short, it took some three decades for car insurance as we know it now to come into force. The situation was much the same in many other parts of the world too. In America the requirement for car insurance came into force three years earlier than it did in the UK.

Modern times have seen other changes to the insurance that is offered. Back in the early days a car insurance policy would be exactly the same no matter who you bought it from. Now you can get quotations from lots of different companies and then choose the one you like the most.

Car insurance has certainly come a long way since it was first made a requirement more than seven decades ago. Many car insurance companies are now available to give instant quotes online. That would have seemed unimaginable to people who lived during the 30s and had one of the earliest motor cars of all!

It has developed a lot over the years, but it still has the same purpose it had right at the beginning. It’s good to know some things do stay the same.

Andrew Regan writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.