Interesting articles about insurance

<img src="Home Insurance.jpg" alt="Home Insurance" width="130" height="97">

Your home is your place of safety and happiness, but also possibly the biggest investment of your hard earned money you will ever make! Your safe haven requires protection against various incidents.

Home Insurance is financial protection. You pay a premium for the cover. You might never have to claim against the policy, but in the case of a destructive event it may be the only way to avoid the cost of losing a home.

Policies from different companies differ, but most home insurance policies protect against the most general risk factors such as:

  • Fires of any size that could cause structural damage of the building or the contents inside or fixtures to your house.
  • Theft of things stolen from your home.
  • Vandalism – acts by destructive people such as broken windows or doors, graffiti, or other acts from such people.
  • Storm and/or flood damage for damage to your home caused by wind, hail, water, rain and ice.
  • Falling objects – protection from falling trees or other items that may fall onto your house and cause damage to the roof or other segments of the structure.

Home Insurance is your Responsibility

It is your responsibility to seek and find the policy that suits your individual needs as well as the need to be covered against specific events that is frequent in the area and neighbourhood where your house is built.

If any of the events that you have cover for, occurs you will simply have to fail a claim with your agent or directly with the Insurance Company. The company will make the funds available to repairs damaged items or replace what was lost.

Your policy provides cover up to amount specified in the policy. Take care to be sure that your Home Insurance coverage is enough to cover the full home value as well as additional coverage that may be needed. Be aware that the value of your house should not include the land value.

KP_WB_930x180

This article originally posted on http://insuretodayblog.com/and re-posted here with permission.

 

Ref.: http://finance.alot.com

<img src="Telematics.jpg" alt="Telematics" width="124" height="102">

At a recent Auto Insurance Report National Conference [AIR]  the theme was that advances in data collection will provide benefits to consumers and challenges for insurers. Sources of data will vary from government agencies to data collected from cars via telematics. Auto Insurance companies will have to figure out how to stay on top of up-and-coming demographic trends, including the increasing influence women have in the purchasing decision. They can increase their knowledge of customer needs and serve their clients better.

 Auto Insurance Facts revealed at the conference

1. Auto Insurance Market. There wasn’t much movement in the auto insurance market in the past few years, but the top 7 insurers increased their market share by aggressive pricing and advertising. That leaves some companies with waning revenues and at risk over the long-term. Only a few other companies showed growth resulting from first-class customer service and retention programs. If insurers make intelligent use of the new data they will improve their understanding of customer needs and discover growth prospects.

2.  Telematics. Companies have gone ahead assertively with their telematics schemes. Many major auto insurance companies have introduced programs over the last year. Telematics is an ends to a means. The best move is Usage-Based Insurance (UBI) – where a driver’s behavior is used to price the policy more accurately. Insurers cannot put off development of a UBI solution. Consumer demand will increase hand in hand with the adoption of UBI as well as the corresponding advertising budgets to flaunt these cheaper and smarter policies.

Google’s Self-Driving Cars was showcased where a legally blind person is able to commute using this “smart” technology. It is expected that these cars will be publicly available in 5 years. Safety ratings will be higher. Driving and accidents will be video-recorded. This will bring forth complicated implications for auto insurance companies and fresh challenges for underwriting and service.

KP_WB_980x120

This article originally posted on http://insuretodayblog.com/and re-posted here with permission.

<img src="airplane in air.jpg" alt="Airplane in air" width="130" height="97">

Is your Travel Insurance in order?

Everything you need to know about travel insurance

Why do we need travel insurance? Travel insurance protects travelers against adverse events such as cancellation and interruption of travel. It reimburses the traveler regarding medical expenses incurred, loss or damage of property and transit delays.

How can you make the most of your travel insurance?

There are four main categories of travel insurance, namely Health & Medical, Delays & Cancellation, Death and Damage or Loss of property.  

<img src="travel insurance health cover.jpg" alt="Travel Insurance health cover" width="137" height="92">

Health Cover forms part of Travel Insurance

Emergency evacuation: Guarantees emergency transportation to either a local hospital in the event that the traveler is unable to use own form of transport. Another option is to have the traveler transported to a hospital closer to home.  If family members are covered on the same policy, they can also travel back to their home destination with the patient.     

Medical reasons: Reimburses emergency medical and dental costs incurred by travelers. The majority of holiday insurance policies reimburse the traveler after they have paid locally for treatment. Medical claims are usually paid within 7 – 10 working days. Pre-existing medical conditions are covered by most policies if the policy is purchased within a maximum period of 21 days from the date the traveler made the first payment or deposit.

<img src="airport delay.jpg" alt="Airport delay" width="138" height="92">

Airport Delay

Cancellation: Reimbursement comes into effect if travelers have booked and paid for a holiday, but are unable to follow through with their plans due to personal illness or injury, death of either the individual or a family member, adverse weather conditions, transport strikes, terrorism, sudden unforeseen unemployment or by sustaining serious damage to their home caused by a natural disaster. 

Delay: Travelers are reimbursed for hotel, food or clothing expenses in the event of a flight delay. 

Interruption: Insurance companies usually reimburse travelers abroad if they have to cut their trip short due to illness, death, terrorism, weather, airline strikes and other adverse conditions. These conditions refer to events outside the control of the traveler.

<img src="Airplane medical emergency.jpg" alt="Airplane medical emergency" width="130" height="97">

Airplane medical emergency

Accidental death: Covers death or dismemberment at any time of your trip.

Air Flight accident: Covers death or dismemberment during an air flight only. 

Common carrier: Covers death or dismemberment of the traveler while traveling on public transport such as a plane, ferry, train bus or taxi.

<img src="Baggage Tracing Information.jpg" alt="Baggage Tracing Information" width="138" height="92">

Tag your baggage properly

Baggage loss: Reimburses a traveler for lost, stolen or damaged personal items. This coverage is usually not confined to baggage damaged or lost by the airline, but covers the duration of the trip. 

Hire Car damage: Reimburses travelers for damage or loss to a rental vehicle. Liability coverage should still be purchased through the car rental company. 

Assistance services: Guarantees a 24-hour telephone advice and assistance service to travelers. This service can be used anytime a traveler needs advice. Be sure to keep this number in several places in your luggage or on your person when you move around.

We trust that these travel insurance guidelines will alert you to the issues you should address when taking out travel insurance for your next trip.

Bon Voyage!

css.php