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Guidelines for Cheaper Insurance Costs

welcome By: Elena Grace Flores
You might be shopping around for your home and car insurance right now but it is best to know where to look first. Asking the wrong people might mislead you. Just five things to remember:

1. Discounts are not given voluntarily. Do not agree right away on what is offered. Make it a point to ask for promotional offers like the month that they are more likely available.
2. Pay a substantial lump sum to lessen the remaining premiums but first, deal only with insurers that are tried and tested by people you know well. After all, it won’t matter how much discount you got if the claims will not materialize.

3. Do not eliminate disaster coverage just because calamities rarely happen in your area. You never know when they strike!
4. Include substantial liability coverage in your insurance to be able to take care of other people that you cause harm in case of car accident or injured within your property. This will save you from possible lawsuits in the future.

5. Get a renter’s insurance if you do not own the house. You will also be covered with liability and loss of properties in your household.

If you are happy with your existing car insurance, ask the same provider if they have other kinds of insurances that you might need. Often, if you are already a good client, they will try to give you the best options you can avail. It’s smart to do it that way.

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Don’t Buy a Home without Proper Insurance

welcome By: Elena Grace Flores
In most cases when buying a house, one can spend almost all his or her lifetime savings – and you don’t want this to be jeopardized just because you do not have a home insurance – or there are issues that hinder you from getting a proper insurance which can be one of the following:

Homes that cannot be insured…
Do not buy a house that has record of large disaster claims like any kind of water damage. Insurers will only insure this at substantial rates if they still accept your application. It is best to abandon the idea of purchasing such properties because this would only prove that this is a prone to disaster.

Umbrella Policies for lawsuits and hazards…
Liability insurance can take care of the damages or bodily harm incurred to others within your property – but sometimes, victims want more to the verge of suing you. This is when you need umbrella policies to have maximum financial protection. In the U.S. you can be covered up to one million dollars. Another instance is when there are disaster threats or hazards in your area – you will need an umbrella policy where flood protection or anything of that sort can be overwritten. Better yet, getting coverage for home transfer to a safer ground if possible will be brilliant.

Life Insurance for the insured…
The head of the family who is buying the house on mortgage must also have life insurance. A short-term one or long-term plan depending on the capability of the bread winner will be helpful – to prevent the rest of the family from being homeless should unexpected demise of the home buyer occurs. The short-term plan must allow the rest of the family to find alternative dwelling and the longer one should allow them to remain in the house until it is paid off by the insurance grants.

Disability and accident insurance are also very helpful because we just don’t know what the future awaits for us. Don’t just buy a house and insurance based on what you can afford now. Considerations for such situations must also be undertaken so as not to lose any savings or properties you already have because you cannot fully pay the mortgage!

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Lower Insurance Costs without Underinsurance Risks

welcome By: Elena Grace Flores
It seems like a reminder to scout around ways to lower insurance costs for your car and home after celebrating New Year. Sometimes finances can be tough but this is not a good reason to go underinsured. The more you have to make sure that you are covered from any destruction when the going gets tough – but what can you do if you only have so much money?

Consider these tips in getting a bargain with your insurance premiums without the risks of being underinsured:
1. Pay a higher deductible up to US$1000 or equivalent in your local currency to lessen your yearly premium to at least 25%. It is important to insure your home on the amount enough to rebuild and furnish the house when disaster strikes. Do not base your home insurance value to the market rate of your property.

2. You can save more on insurance costs if you consider reliability and customer service quality of the insurance provider. You might be able to get full coverage at a lot lesser rate but every time you need something, you need to drive all the way to their office or call them several times before they can act on a single request – is not only tedious but expensive in terms of time and money. Most of all, claims must be processed quickly. You can get testimonials from other insurance buyers you know.
3. Always make damages cause by flooding covered by your chosen home insurance. Statistics shows that flooding is the major cause of home wreck. Choose a higher deductible amount to save up on your premiums but if you live in a flood-prone area, consider adding some elevations to your home structure as preventive measures.

4. Follow the required amount of liability insurance in your locality for your car insurance – and not just the minimum. In the U.S., $100,000 is the standard liability for bodily harm and per accident is $300,000. It’s better to pay enough than live with guilt or be sued. Drive defensively and get a certificate for it also. You might be able to find an insurer that offers discounts for certified defensive drivers.
5. Drop the mentality that just because you don’t own the house, you don’t need to spend on home insurance. The very reason why there’s renter’s insurance. The important thing is to be able to start all over again when all the possessions inside your house are wiped out or damaged by a calamity. You will be able also to pay for any liabilities to other people injured within your vicinity.

It is always beneficial to get one insurance provider for all your insurance needs. You can have discounts for patronizing the company and you will be known by their customer service staff – and enjoy the privileges of a priority customer. So, it pays to be loyal when it comes to buying insurance!

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No Health Insurance can be a Disaster

welcome By: Elena Grace Flores
Unlike the United States, most countries do not penalize their citizens for not having health insurance – but for those who can afford it, not obliged to buy one does not mean people can save up. To the contrary, that could even spell disaster for them when illnesses or accidents occur – causing bodily harm that requires intensive hospitalization and care. Medical bills are number one expense that most people are having hard time to generate to the fullest. Often, they end up getting emergency loans or borrowing from other people or lending establishments.

It is a wise financial move to make it a point to buy health insurance especially when you do not have enough money for emergency. Besides, when you are ill, you really do not know for sure how much is enough. Health insurance is there to give you the peace of mind that when you are unable to continue raising money for the family temporarily regardless of what kind of disease hits you, you are covered!

Every head of the family ideally must get his or her health insurance and also extend the benefit to the whole family. Multinational companies normally offer this as a benefit to their employees but if your company does not include this in your compensation package, might as well pay for your own health insurance coverage.

Insurance costs vary according to coverage. Therefore, choose a health plan that is suitable for your lifestyle or family history. They are normally affordable when you pay once for the whole year for a satisfactory coverage that includes hospitalization in one of the accredited hospitals near your area. Most health insurances cover a fixed amount per disease. Do not wait until you get sick to get the insurance needed or else the premium will already sky rocket!

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How to Save Up to Buy your Child a Car

welcome By: Elena Grace Flores Money is essential for everyday living and if you are thinking of buying your child a car, you may have to sacrifice a bit of your leisure or even lower down your lifestyle. Bear in mind also that it’s dangerous to buy one without a comprehensive insurance – for your peace of mind at least! If you really are determined to provide your child’s transport necessity that would equip him or her for future financial independence while finishing college or pursuing a career, head on to these tips:

1) Be practical in choosing a college or university for your child. There are government schools that provide the best curriculum and facilities to above average students. So, challenge your child to get a slot from these institutions and maintain at least a B average grade or equivalent. You probably did not know yet that car insurance discounts are offered to students with good grades. Although this depends on your location.
2) Choose a reputable driving school to learn driving from. Car and auto insurance promotions are normally distributed through recognized driving schools. Their operators are also given incentives to promote and sell. They are motivated by recommending buyers that can be legible for the highest discounts offered. So, take advantage with this kind of marketing strategy.

3) Delay the wants and prioritize the needs only until your savings are sufficient enough to buy a car. Pay only for the basic needs like food, home mortgage or rental, non-signature clothing and utility bills. Avoid dining out and be selective in giving out parties if you can’t help not organizing one. Most of all, teach your child the essence of defensive driving so that you will be safe from higher insurance rates when you renew the car insurance.
4) Select only one insurance provider for your family’s needs. Most insurance companies provide car, home and any other types of insurance. Loyalty discounts can be availed in most cases. At least 20 to 25% off are provided to loyal insurance buyers.
5) Follow traffic rules and drive carefully. You too can save up on traffic violation tickets or 3rd party damages if you do not hit your neighbor’s fence and make sure to extend these cautions to your driving child. You can’t just avoid hassles by being obedient and contained but also saves some money for that new car you’ve been wanting for your child.

You see, while trying to save to buy a car for your child, you can also save up for the car insurance that must go with buying the car. Most importantly, you can also have the privilege of teaching your child how to value your gift by following the safety precautions while on the road. Mind you, it’s not only the car that is spared from damages but also your child’s precious life!

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