Archive for January 21st, 2010
How to reduce the risk of burglary
The one thing most likely to impress your insurance company is that you have taken a number of simple steps to reduce the risk of a burglar entering your home. The result? A reduction in the premium is guaranteed. This can be relatively minor things like deadlocks on the doors or, if there are real risks of robbery or kidnapping, the more expensive installation of a panic room. As with all decisions, it’s a balance between the costs of the work and the benefits in the reduction of premiums. Finally, even if you cannot afford a full alarm system, there are cheap ways of protecting your property. Read the rest of this entry »
Industry secrets that will help you save money on auto insurance
When dealing with a car insurance company or agent, never expect the whole truth. Whether they are trying to boost their commission or just sweet-talking you, it’s rarely in their interests to tell you the full story. Always remember what they don’t tell you is probably the thing that could save you money. Things like this:
1. Cancel the collision premium if your car is old.
If your car is 7/8 years old and worth less than $2,500, it’s likely your excess is close to the value of your car. So why pay for comp and collision premiums? A major collision will probably write your car off anyway so it’s wasted money. Read the rest of this entry »
Error and omission business insurance
The modern society has very strong litigious mechanisms and dynamics. And small businesses risk facing professional liability that will more likely end their existence than in case of big enterprises. However, the majority of small business owners do not think much about developing a reliable insurance portfolio for their enterprises, which would provide protection and risk assessment to the right extent. And that’s certainly not the best strategy for those who want their businesses to grow and develop well. Read the rest of this entry »
Which is better: term or permanent insurance?
Perhaps it’s the wrong way to think about insurance, but it’s really nothing more than a form of licensed gambling. You find this insurance company prepared to take you on and then place a bet on how long you are going to live. The insurance companies studies the form guide and decides how long people like you tend to live. It sets the premium and the jackpot number. If you die within the first few years, your family are big winners. They hit the jackpot for just a few premium instalments. But if you live far longer than expected, the insurance company wins big because it has the use of all your money during your lifetime and only pays back the sum agreed. That’s one of the interesting things about inflation. What looks a big number now may be peanuts in fifty years time. That’s why buying a policy with a fixed benefit is such an interesting bet. Read the rest of this entry »