Any risk that can be quantified probably has a type of insurance to protect it. Among the different types of insurance are:
* Automobile insurance, also known as auto insurance, car insurance and in the UK as motor insurance, is probably the most common form of insurance and may cover both legal liability claims against the driver and loss of or damage to the vehicle itself. Over most of the United States purchasing an auto insurance policy is required to legally operate a motor vehicle on public roads. Recommendations for which policy limits should be used are specified in a number of books. In some jurisdictions, bodily injury compensation for automobile accident victims has been changed to No Fault systems, which reduce or eliminate the ability to sue for compensation but provide automatic eligibility for benefits.
* Boiler insurance (also known as Boiler and Machinery insurance or Equipment Breakdown Insurance)
* Casualty insurance insures against accidents, not necessarily tied to any specific property.
* Credit insurance pays some or all of a loan back when certain things happen to the borrower such as unemployment, disability, or death.
* Financial loss insurance protects individuals and companies against various financial risks. For example, a business might purchase cover to protect it from loss of sales if a fire in a factory prevented it from carrying out its business for a time. Insurance might also cover failure of a creditor to pay money it owes to the insured. Fidelity bonds and surety bonds are included in this category.
* Health insurance covers medical bills incurred because of sickness or accidents.
* Liability insurance covers legal claims against the insured. For example, a homeowner's insurance policy provides the insured with protection in the event of a claim brought by someone who slips and falls on the property, and brings a lawsuit for her injuries. Similarly, a doctor may purchase liability insurance to cover any legal claims against him if his negligence (carelessness) in treating a patient caused the patient injury and/or monetary harm. The protection offered by a liability insurance policy is two-fold: a legal defense in the event of a lawsuit commenced against the policyholder, plus indemnification (payment on behalf of the insured) with respect to a settlement or court verdict.
* Life insurance provides a cash benefit to a decedent's family or other designated beneficiary, and may specifically provide for burial and other final expenses.
* Annuities provide a stream of payments and are generally classified as insurance because they are issued by insurance companies and regulated as insurance. Annuities and pensions that pay a benefit for life are sometimes regarded as insurance against the possibility that a retiree will outlive his or her financial resources. In that sense, they are the complement of life insurance.
* Total permanent disability insurance provides benefits when a person is permanently disabled and can no longer work in their profession, often taken as an adjunct to life insurance.
* Locked Funds Insurance is a little known hybrid insurance policy jointly issued by governments and banks. It is used to protect public funds from tamper by unauthorised parties. In special cases, a government may authorize its use in protecting semi-private funds which are liable to tamper. Terms of this type of insurance are usually very strict. As such it is only used in extreme cases where maximum security of funds is required.
* Marine Insurance covers the loss or damage of goods at sea. Marine insurance typically compensates the owner of merchandise for losses sustained from fire, shipwreck, etc., but excludes losses that can be recovered from the carrier.
* Nuclear incident insurance - damages resulting from an incident involving radioactive materials is generally arranged at the national level. (For the United States, see Price-Anderson Nuclear Industries Indemnity Act.)
* Political risk insurance can be taken out by businesses with operations in countries in which there is a risk that revolution or other political conditions will result in a loss.
* Professional Indemnity Insurance is normally a mandatory requirement for professional practitioners such as Architects, Lawyers, Doctors and Accountants to provide insurance cover against potential negligence claims. Non licensed professionals may also purchase malpractice insurance, it is commonly called Errors and Omissions Insurance and covers a service provider for claims made against them that arise out of the performance of specified professional services. For instance, a web site designer can obtain E&O insurance to cover them for certain claims made by third parties that arise out of negligent performance of web site development services.
* Property insurance provides protection against risks to property, such as fire, theft or weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, inland marine insurance or boiler insurance.
* Terrorism insurance
* Title insurance provides a guarantee that title to real property is vested in the purchaser and/or mortgagee, free and clear of liens or encumbrances. It is usually issued in conjunction with a search of the public records done at the time of a real estate transaction.
* Travel insurance is an insurance cover taken by those who travel abroad, which covers certain losses such as medical expenses, lost of personal belongings, travel delay, personal liabilities.. etc.
* Workers' compensation insurance replaces all or part of a worker's wages lost and accompanying medical expense incurred due to a job-related injury.
A single policy may cover risks in one or more of the above categories. For example, car insurance would typically cover both property risk (covering the risk of theft or damage to the car) and liability risk (covering legal claims from say, causing an accident). A homeowner's insurance policy in the US typically includes property insurance covering damage to the home and the owner's belongings, liability insurance covering certain legal claims against the owner, and even a small amount of health insurance for medical expenses of guests who are injured on the owner's property.
Potential sources of risk that may give rise to claims are known as "perils". Examples of perils might be fire, theft, earthquake, hurricane and many other potential risks. An insurance policy will set out in details which perils are covered by the policy and which are not.
If you are going abroad, then it is important to get travel insurance. If you have problems or become ill whilst abroad then that insurance could literally save your life. However, you shouldn’t get the first travel insurance policy that looks tempting. You need to make sure that you have the right level of cover and that you get a good price. Here are some tips on how to get the most out of travel insurance:
Don’t leave it until the last minute
When getting travel insurance you should make sure that you begin shopping around as soon as you have made your travel arrangements. Many people shop around endlessly for their holidays but just buy the first travel insurance policy they see at the last minute. Look around at all the deals available and look at what they cover you for.
Medical and repatriation
If you are going to a country that has potential political problems or disease issues, then you need to make sure your policy covers all medical eventualities as well as repatriation. You should try and get a policy that covers you for at least £1 million.
Trip cancellation
One aspect that your policy should include is the refund of your holiday costs should the trip be cancelled or cut short. This is important because this is one of the most common reasons for claiming on travel insurance.
Immediate start
You should make note of whether the policy starts immediately or after a certain number of days. If you have a limited time to book your insurance then you want a policy that covers you as soon as you book it.
Dangerous activities
If you like being adventurous on holiday then you will want a policy that covers you for potentially dangerous sports and activities. Many policies don’t cover for items like skydiving or bungee jumping, so if you will be doing these things you need to look into which policies will cover you.
Personal liability
One of the most important things you need to be covered for is personal liability. If you accidentally injure someone then you will be thankful for having this cover. Make sure the level of personal liability cover you get is the highest you can afford to cover potential lawsuits or compensation.
Lost or stolen
It is important to have a policy that will cover you in the event that your goods are lost or stolen. This will be of particular use if you lose your wallet or other valuable possessions
Single and annual cover
If you go abroad infrequently then you will only need to buy single trip insurance. However, if you travel a lot then it might be cheaper to get annual cover. This will cover you for any trips that you make in the year, and will save you having to take out new insurance each time.
by: Peter Kenny
You are ready for your dream holiday, but there is that one practicality left - insurance.
While there is no doubt that travel insurance is necessary, and not something with which you should do without, finding a policy which is not only cheap, but also offers the correct levels of protection for the activities on your vacation can be both daunting and boring.
With countless pages of policy small print and get-out clauses for the insurer, it can seem almost impossible to find what you want for a good price.
The majority of insurance policies do have reasonably comprehensive cover, and can often be purchased including dangerous sports such as skiing. However, the complications arise when it comes to deductibles and health situations, such as pre-existing problems.
For example, what happens if you do need to go to hospital in a foriegn country? Will the insurance company pick up the bill, or will you have to claim and pay at the time. This will not be suitable for a lot of travellers on a lower budget, but is the way that most policies work. There are many gaps and get-outs in travel insurance policies, and you will need to spot them in advance, should a problem arise.
Most policies cover trip cancellation, robbery, lost baggage, medical, dental and accidental death coverage, but you may also find emergency evacuation, insurance against delays, lost documentation and 24 hour travel assistance.
The key to finding the best deal is to shop around yourself - Don't simply buy your travel insurance from your travel agent. Here are a few reasons why:
- The coverage will not be as good.
- The policy will be less flexible.
- It may duplicate areas that you are already insured for.
It may seem like a better deal at the time to buy your insurance from your travel agent, but remember that they are not specialised in this area, and will only be offering an out-of-the-box policy from some partner insurance company, which they will make money off.
As with most things, you are better off doing your research, and arranging it yourself.
When buying your policy from an insurance company:
- Get quotes from as many companies as you can.
- Read the small print. Does it cover your intended activities?
- Can you waive the pre existing condition exclusion.
- Find out what types of cancellation the insurer will not pay out for. Again, it comes to carefully reading the policy details (I know it's boring, but it is necessary)
- Finally, if there is anything you need to know - Ask! There is no point in having the policy if you end up unable to claim.
Wishing you a fantastic trip, and an unused travel insurance policy!
Go to http://www.destroy-your-debt.com/insurance for more information.
by: Andrew Moore
To purchase or not to purchase travel insurance, that is the question. If you have done some research or talked to a travel agent, you might have been told that insurance is absolutely necessary. After all, you have put a lot of money into airfare and booking your hotel. But does that mean you need to spend more on insurance?
Travel insurance was created to make sure your money is refunded should something go wrong at the last second. This includes many circumstances that would prevent you from traveling, like illness or a flight being canceled due to inclimate weather. If your plans are put on hold, at least you will get your money back. But there are ways this insurance can help you while you are on vacation as well.
When taking travel tours abroad, check and see if your normal health insurance will cover you in a foreign country. Often, plans either do not cover you, or are just not accepted abroad. Should this be the case for you, then invest in travel insurance. This way, you are sure to be covered if you need medical attention while on vacation.
Unfortunately, travelers these days need to be aware of terrorism when they travel abroad. Should terrorist activity occur where you are about to vacation, your airline is not necessarily required to refund the cost of your ticket. However, if you have travel insurance, you will be covered.
Flight cancellation is another eventuality covered by travel insurance. Any number of things could prevent you from leaving the ground. You might have scheduled your vacation during the worst snow storm in twenty years, or maybe you airline just goes out of business. Travel insurance protects the money you have invested in your ticket. Perhaps circumstances in your life prevent you from taking advantage of vacation deals. Should somebody in your family die or become ill, you can cancel your plans without penalty. Whatever may happen to prevent you from leaving, you are covered.
If you loose your luggage, you will also be covered by travel insurance. Usually, the baggage is returned by the airline; though, sometimes, it is simply misplaced and never found. Or, your luggage might be returned with items missing. Travel insurance gives you the money to replace anything that can’t be found so you can enjoy your trip as planned.
When deciding on a specific insurance company, it is a good idea to research your options before choosing. Different plans work best for specific vacations. Perhaps you are not buying a plane ticket, but taking a cruise. If you travel often for business or pleasure, you can even purchase a policy that covers you for extended periods of time. These plans save you the hassle of buying a policy for each individual trip. Ask questions before you make a final decision to be sure that you are getting all the coverage you need. You wouldn’t want to insure yourself, only to find that your particular vacation disaster is not covered under your policy.
About The Author
Jerry Blackburn continually pens newsletters on stories about Spain and spanish culture. Sharing his passion in detailed writings such as http://www.alicante-spain.com/spain-tips/jobs.html ,the reviewer established his capability on topics like Jobs in Spain.
This article was posted on July 12, 2007
Read More Articles from the "Travel and Leisure" Category:
Tips for Traveling with Children
by David Pierce
Backpacking Adventure Travel
by John Purdy
Set Sail To The Azores Islands
by Rob Carlton
My Favorite Two Attractions At Disney Theme Parks
by Tracy Crowe
France at 200 kph – of Grandmothers, Lyon and Rain
by Rick Chapo
Spain – A Perfect Destination for Buying Property
by Steven Magill
Cruise Travel Close To Home From The West Coast
by Mary Hanna
Laptop on Cruise: Should I bring my laptop on cruise ship vacation or leave it at home?
by Tony Brandis
Vacation in Your Own Way… Possible at Hawaii Vacation Rentals
by Sylvestor Johnson
Discover The Pasadena City College Flea Market And Swap Meet
by David G. Hallstrom, Sr.
by: Jerry K. Blackburn
At Your Own Risk: 10 Countries Where Travel Insurance Won't Be Able To Help Y
Posted by gandalf Labels: travel insuranceThe foreign and commonwealth office draws up an extensive list of countries that should not be travelled to quite regularly, and is from that, that our, and other global travel insurance providers’, underwriters decide which countries travel insurance should be provided for. We look at the government travel advice and decide from that whether or not we can provide insurance to travellers.
Although global travel insurance does, by its nature, cover the majority of the world, the current climate ensures that there are some places where the likelihood of incident means that UK travel insurance providers are unable to offer protection. Thankfully, the list is clear of the majority of popular holiday destinations, and you’re unlikely to have your big holiday plans affected. The most likely group to have their travel plans altered by the foreign office’s travel advice are business travellers.
The foreign office’s travel advice is not to travel to the following countries, even if it means losing business – the risk from the warzones listed below is just too great to make the reward worth the danger:
Here’s our top 10 countries to avoid travelling to, and the reasons for the high risk factor! The risk is far from conclusive (the foreign office’s travel advice lists many more countries), but to me, these are the ones that all travellers should avoid like the plague:
10) Liberia
Economic hardship in Liberia is currently making outbreaks of violence common, and foreigners (especially westerners) are at risk targets due to their affluence. This extra likelihood of incident ensures that no UK travel insurance provider would risk offering you cover if you choose to visit Liberia
9) Nepal
Occasional acts of terrorism and political violence in urban areas make Nepal off-limits for those who want to get travel insurance. In September this year, three nearly simultaneous bombs went off in the capital of Kathmandu, killing 3 and injuring many innocent bystanders.
8) Haiti
Haiti is considered off limits to many travellers on account of the high risk of kidnappings and civil unrest that is prominent. At the time of writing, there have been 12 kidnappings of American travellers in 2007 – mostly criminal in nature. In the past, these kidnappings have ended in physical and sexual assaults and shootings. The potential for spontaneous protests and demonstrations has also been known to result in unexpected violence, day or night. It’s no surprise that the government’s travel advice is not to travel here!
7) Yemen
Due to the high levels of terrorist activity in Yemen, westerners are advised to steer clear of Yemen. If this is not possible, then all travellers are encouraged to stay vigilant and to keep a low profile to avoid attacks or kidnapping. The situation is so grave that the US Embassy often restricts American citizens from certain hotels, restaurants and shopping areas.
6) Israel
The Gaza Strip and West Bank has seen immense violence in recent months between Israeli and Palestinian factions, and shootings, kidnappings and violence demonstrations have occurred in each. The region’s continued instability makes travel to Israel widely recommended against – the risk of abduction or worse makes travel insurance impossible to obtain.
5) Democratic Republic of Congo
The democratic republic of Congo remains one of the most dangerous places to travel in Africa, where violence, neglect and corruption has left the country distinctly damaged. Fighting erupted in the streets of Kinshasa in March this year, and the situation remains volatile despite the immediate threat of violence calming down. Travel outside of Kinshasa is difficult and dangerous with security, especially in the north and easy, being unstable. Any traveller brave enough to travel to the Congo should be extremely cautious, avoid the North Kivu district which is the backdrop to armed conflict between government troops and army rebels, avoid crowds and keep a close eye on local media.
4) Burma (Myanmar)
While the human rights situation makes Myanmar an ethically uneasy place to visit, currently there is a lot of personal risk involved as well. Throughout September, the anti-government protests sparked a violent crackdown from the authorities and made international headlines. Although the dusk-til-dawn curfew imposed in some of the towns has been lifted, it still remains an uncertain time to visit the country and you’re unlikely to find any global travel insurance company who will insure you.
3) Colombia
Colombia remains one of the most dangerous places to travel in the world thanks to the crime the country suffers from. The illicit drug trade in urban areas such as Cali and Buenaventura means that there is often a high risk of violence, while the more rural areas expose visitors to the country at risk from narcoterrorist groups who will often kidnap civilians to use for ransom or to gain media attention. Naturally UK travel insurance companies are loathe to insure travellers who choose to ignore these warning and travel to Colombia anyway.
2) Afghanistan
With the war on terror in Afghanistan still fresh in the mind, it’s no surprise that the country remains a big no-go area. Western tourists are obvious kidnap and assassination targets, as many of the disbanded Taliban and Al-Qa’ida forces remain at large and hostile to the new regieme. Additionally, the country remains unsafe due to tribal groups, explosive devices, landmines, military operations and acts of terrorism. Unsurprisingly, the government’s travel advice is to avoid travelling here at all costs!
1) Iraq
Given the high profile nature of western kidnappings by various insurgent groups, and the regular acts of terrorism and hostility to Western troops, it is no surprise that no travel insurance companies will insure travellers to the troubled country. The instability is caused by various groups – Ba’ath regime remnants, transnational terrorists and criminal elements have been known to attack convoys en-route to venues, hotels, restaurants, checkpoints and police stations.
While holidaymakers are unlikely to be affected by these less touristy locations, their riskiness means that business travellers will have to forgo their travel insurance if they are unable to cancel their trips.
by: Patrick Chong
Life insurance can be an effective tool to make certain and protect your family’s financial future. It has been acknowledged universally as a method by which the breadwinner can substitute risk and uncertainty with timely aid for the family in case of their unfortunate death.
Since a life insurance policy will replace your lost income after your death, it is important to choose the right kind of policy. Hence, it is essential to find a company that will cover your insurance with the right amount, and at a reasonable price.
Need for a life insurance policy:
There are several reasons for an individual, specifically a breadwinner, to make out a life insurance policy. To assuage your concern for your family in case of your death, most life insurance policies offer various death benefits that take care of your family after your death:
1. For example, a member of your family may have some special needs. You can buy a life insurance policy that will act as an emergency fund in the event of your untimely death.
2. If you want to make sure that your child gets quality education even after your death, a life insurance can also work as a fund for your child’s education.
3. An insurance policy will ensure the maintenance of your family’s standard of living.
4. Your family can also use it to clear personal and business debts, after your death.
Duration of insurance coverage:
Before buying a policy it is advisable to ensure the duration for which you want life insurance coverage. You can take online help to decide the coverage duration.
Need for a checklist
After you decide on your specific need, and the duration of your life insurance policy, you can begin looking for a suitable policy. It is prudent to prepare a checklist before buying, as this will ensure that you end up purchasing the right policy.
The checklist must include various factors on which you can assess insurance companies, which includes various criteria set by insurance companies too. Here are a few pointers:
1. Before buying a life insurance policy, it is advisable to ensure that you have all medical information regarding your health, because most companies expect that, depending on your age and the duration of insurance coverage.
2. It’s a good idea to compare various life insurance companies on the basis of quotes that they have to offer. You can take the help of the Internet to compare the quotes based on your choice of insurance product and your age.
3. You can also take help from a broker through the telephone or the Internet and clear all your queries.
4. Once you decide on a particular insurance company, it is important to ascertain the company’s financial strength and stability.
5. It is also advisable to gather information about the options for renewal that various insurance companies offer, because some companies charge high premiums if you renew your policy.
6. Some insurance companies charge a penalty if you cancel your policy, so make sure that the company you choose does not demand a penalty on cancellation of policy.
7. You may also want to make some changes in your policy in due time, as your insurance needs can change with time. So, when you purchase your insurance policy find out if there is an age limitation for any kind of conversion of your policy, and whether the option of moving into a better policy is there.
by: Joseph Kenny
The insurance industry is booming, providing an essential lifeline for the unexpected events in life. Whether its car insurance, home insurance, pet insurance or even life insurance, the insurance industry is there to protect us against the unexpected, and to financially assist in covering the losses arising from these events. It may be easy to understand the concept behind various types of insurance, but one which often causes confusion as to its purpose and function is life insurance. Furthermore is life insurance a worthwhile topic for consideration, and should we be looking to insure our own lives for the benefit of our families?
Insurance, by nature, is designed to provide financial security in the event of some mishap or unexpected event that leads to unexpected losses or expense. Naturally, incidents like car accidents, house fires, vet bills – they all lead to great financial loss which ultimately can break the bank for many families living on the edge of their means with a finely balance budget. But what about death? Aside from the funeral expenses of the deceased, insurance can also cover the loss of earnings which would otherwise contribute to the family funding. Suppose the main household earner dies prematurely. This could leave the family in need of childcare expenses whilst the surviving parent is required to work double the number of hours in order to make ends meet. Especially during such a difficult time as bereavement, financial worries can cause undue stress and suffering, and can have a drastic impact on the family situation.
That's where life insurance comes in. Paying into a life insurance policy will mean that should you die suddenly and unexpectedly, your family will have the financial means to cope with their loss, whilst being able to maintain their current financial commitments until they can plan for the future. The benefit of a life insurance policy is peace of mind; the knowledge that your loved ones will be cared for after your death is something which many find reassuring, particularly in households where there is one major breadwinner. Additionally, life insurance policies can be designed to cover the immediate expenses of death, like funeral expenses which can often run into the thousands. By providing a lump sum payment on death, a life insurance policy can ensure your friends and family aren't overly financially burdened on top of the emotional burden of losing a loved one.
Life insurance can often be a tricky area to deal with, and many people find the motivations behind it somewhat morbid. They can often find the concept hard to grasp, and beyond funeral expenses the financial loss of a loved one can be difficult to quantify. However, particularly where there are a number of financial dependents in the household, it can be a great idea to ensure adequate coverage after death, so you can know that whatever happens, your family will be able to financially cope without your earning capacity, and your household won't crumble without your financial input.
by: Graeme Nicholson
As you already know there are many types of insurance. Knowing which policies will best suit your needs is a key to protecting yourself and your family from unexpected events. BY having the protection that you need, when you need it, you give yourself and your family a tremendous advantage when things go wrong.
If you have a family or run a business, you certainly need life insurance. Life insurance comes in many different flavors and choosing the correct policy is often confusing. One thing is certain, however, and that is you want to provide for your family in the event of your death. The actual type of policy that will best meet your requirements is something that only you, your spouse, and the insurance carrier can decide.
There is another side to life insurance, too. What if you do not have a family? In a case such as this, life insurance, unless it is provided free to you by your employer, may be an unnecessary expense. After all, who will be your beneficiary?
Other types of insurance, such as automobile insurance, are clearer to understand. If you do not own a car, you obviously do not need this type of insurance. If you do own a car and drive it, you almost certainly are required to have it by state law.
Homeowner's insurance is required by most lenders as long as you are paying on the mortgage. In the event something should happen to the home, the insurance on it will help cover the costs of repairing it or replacing it if it is completely destroyed.
Once the mortgage is paid, the homeowner is at liberty to carry or not carry insurance as long as that is allowed by state and local law. Even though a homeowner may be tempted to cancel homeowner's insurance or reduce the coverage once the mortgage is paid that is often a bad idea.
Disability income insurance is another type of insurance that most people should at least consider. A long-term disability insurance policy kicks in should you be injured or suffer from a disease that makes it impossible for you to continue working.
It is true that most employers carry worker's compensation plans that can help should you be out of work for an extended period of time, but worker's comp can be complicated and it often does not provide enough money to cover both medical expenses and household expenses. There are also time limits on how long you can receive payments. A long term disability policy can help offset those costs and help your family maintain a more normal lifestyle.
Health insurance is another of those very important policies that all people should have. Health insurance is often provided by employers, and for many people, this is the only affordable way they can get it. Often employers may offer a choice between HMOs (health maintenance organizations) and traditional fee-for-service care. Rates for HMOs are usually less expensive but they normally have more constraints on which doctor or hospital you can use. Privately purchased health insurance is much more expensive and should be well researched before you decide a policy.
The above are just a few of the many types of insurance that you may wish to look into. An excellent way to learn more about insurance and what you need is to speak with a qualified insurance agent.
by: Peter Kenny
Is Travel Insurance Really Necessary?
Travel is already expensive enough, isn't it? The cost of air fare, cruises, hotels, ground transportation, food and activities and entertainment are already high enough. I don't know about you, but I work hard for my money, and when I travel, I want to keep as much of my money in MY pocket as possible. Is travel insurance a necessity or a luxury? Why not cut a few corners here and there. Why buy something if it's not really needed?
My personal answer is, of course, that I am not independently wealthy and can't withstand the potential financial losses I would incur if I require medical care while I'm traveling. Not being independently wealthy also means that I'm in the market for adequate but cheap travel insurance. I suspect that you are in the same position, so you, too need cheap travel insurance. If you're still not sure about that, consider the following.
Did you know that if you get sick or are injured while traveling abroad, your medical plan may not cover all the expenses you will incur? If the costs of treatment are higher than the maximums of your medical plan, you will be responsible for the difference, unless you have already purchased travel insurance. In fact, you may not even be admitted into hospitals in some countries without proof that you have health or medical insurance.
This is true for everyone, regardless of age or length of time abroad. Suppose you fall ill just a few hours after arriving at your destination. Or suppose you make a day-trip to another country, and you are injured in a traffic accident. Or suppose one of your children is part of a group making a class visit abroad, gets food poisoning and requires hospitalization. In all cases, without adequate travel health insurance, you will be responsible for the costs above and beyond the limitations of your existing medical plan.
Therefore, before going abroad, you need to make sure that you are adequately covered by travel medical insurance that won't break your budget. You should check to see if appropriate coverage is already available to you through your medical plan, employee benefits, or even through a credit card. If the coverage is sufficient for your needs, then you can enjoy your trip without incurring the extra expense of travel insurance. However, if you are not sure of your coverage, or if your coverage is inadequate or non-existent, then your next step should be to research and purchase the travel insurance coverage you need.
How Much Can You Expect To Pay?
When I bought my first plane ticket to China a few years ago it cost around $2000 round-trip, and my travel insurance cost me over $500 because I didn't shop around for cheap travel insurance online.
A few years later, a little bit older and wiser, and my travel insurance for another trip to China cost me much less--about $300 for roughly the same coverage. The difference? Before buying my travel insurance for the second trip, I shopped around online and got the coverage I needed, at the right price. If I'd have purchased my travel insurance for this latest trip from my travel agent, it would've cost me about $600 for the trip, and my plane tickets only cost $1,500! Not exactly the smart way to go.
So how much will it cost you? Not as much money as it will cost you if you get sick or injured abroad and you don't have any travel insurance coverage! That's the obvious answer to the question.
In fact, how much travel insurance costs will depend on your age and the type of coverage you choose. Basic policies cost as little as $5.50 USD per $1000 of coverage. On the other hand, you can expect a full coverage policy to cost you from 7 to 10% of the cost of your trip, depending on your age. The older you are, the more you will pay. No matter what the cost of the policy, however, it's sure to be much less than the cost of medical evacuation!
The good news is that you can easily, conveniently and quickly research and locate excellent but cheap online travel insurance and reduce the costs while making an informed purchase. This is much better than taking what you are offered at the travel agency because you can choose from hundreds of travel insurance companies and polices and save yourself a lot of money in the process. One place you can start your search is at Travel Insurance Central, http://www.travel-insurance-central.com
What You Should Consider When Buying Travel Insurance
To assist you in your research, here are some suggestions to help you make an informed purchase.
1. Consider the worst-case scenario. If you can financially withstand the worst-case scenario then maybe you don't need travel insurance or maybe you don't need a comprehensive policy.
2. Make sure the policy you are considering provides adequate medical/dental coverage, including medical evacuation coverage just in case you need medical care in a place where the best treatment available is below the standards you are accustomed to in your country. This can happen if you fall ill in a developing country or even on a cruise ship.
3. Check your existing insurance policies for possible coverage. There is no sense in paying more for what you already have in your homeowner or tenant policy, such as theft and loss coverage.
4. If you are a frequent traveler, you should consider annual or year-round travel insurance policies. Sometimes they are called multi-trip travel insurance policies. Whatever the name, these policies can be relatively cheap when compared to single-trip travel insurance policies.
5. Know what you are buying, so read the fine print. Make sure that you understand what the company considers to be a legitimate reason for cancellation or interruption. If the list is too restrictive, maybe you should consider another policy.
6. Don't restrict yourself to buying only from your travel agent. He/She will probably only have one company's product(s) available, and it's there for your convenience, but that convenience can be quite costly!
7. Ask lots of questions about the coverage. Play the "what if" game. Ask for clear explanations of terminology. Make sure that you and the travel insurance company are speaking the same language.
8. Don't buy the insurance through your transportation provider. If the airline goes bankrupt, how adequate will your insurance coverage be?
Once You’ve Bought Your Travel Insurance
Remember that your travel insurance policy covers you between certain specific dates, so don't start your trip early or extend your trip without first changing the dates of coverage on your travel insurance policy. Of course, this might cost you extra, but that's cheaper than finding yourself without coverage when you need it the most.
Also, it almost goes without saying that you should bring your travel insurance policy with you when you go abroad. You can't consult the policy if it's sitting on your desk at home. You should also carry your travel insurance company's toll-free assistance phone number and other contact information with you wherever you go. It does you no good if you get ill or hurt and the necessary policy information is sitting in your hotel room. It's also a good idea to bring your regular medical coverage cards and info with you.
I hope these tips will help you by the best travel insurance for you. Then take your trip with the peace of mind that comes from knowing that you are insured by the right travel insurance policy at the right price. Bon voyage!
by: John Bartanus
Auto & Trucks Business & Finance Computers & Internet Education Environment and Going Green Family Food & Drink Gadgets and Gizmos Health Hobbies Hom
Posted by gandalf Labels: travel insuranceIf you are going abroad, then it is important to get travel insurance. If you have problems or become ill whilst abroad then that insurance could literally save your life. However, you shouldn’t get the first travel insurance policy that looks tempting. You need to make sure that you have the right level of cover and that you get a good price. Here are some tips on how to get the most out of travel insurance:
Don’t leave it until the last minute
When getting travel insurance you should make sure that you begin shopping around as soon as you have made your travel arrangements. Many people shop around endlessly for their holidays but just buy the first travel insurance policy they see at the last minute. Look around at all the deals available and look at what they cover you for.
Medical and repatriation
If you are going to a country that has potential political problems or disease issues, then you need to make sure your policy covers all medical eventualities as well as repatriation. You should try and get a policy that covers you for at least £1 million.
Trip cancellation
One aspect that your policy should include is the refund of your holiday costs should the trip be cancelled or cut short. This is important because this is one of the most common reasons for claiming on travel insurance.
Immediate start
You should make note of whether the policy starts immediately or after a certain number of days. If you have a limited time to book your insurance then you want a policy that covers you as soon as you book it.
Dangerous activities
If you like being adventurous on holiday then you will want a policy that covers you for potentially dangerous sports and activities. Many policies don’t cover for items like skydiving or bungee jumping, so if you will be doing these things you need to look into which policies will cover you.
Personal liability
One of the most important things you need to be covered for is personal liability. If you accidentally injure someone then you will be thankful for having this cover. Make sure the level of personal liability cover you get is the highest you can afford to cover potential lawsuits or compensation.
Lost or stolen
It is important to have a policy that will cover you in the event that your goods are lost or stolen. This will be of particular use if you lose your wallet or other valuable possessions
Single and annual cover
If you go abroad infrequently then you will only need to buy single trip insurance. However, if you travel a lot then it might be cheaper to get annual cover. This will cover you for any trips that you make in the year, and will save you having to take out new insurance each time.
by: Peter Kenny
Cheap Travel Insurance for Backpacker: Enjoy Within Budget
Posted by gandalf Labels: travel insuranceBackpacker travel insurance is designed for people who travel new location at low cost budget and prefer to travel independently. Many people have curiosity to visit new locations and explore the hidden beauties of nature. Cheap travel insurance for backpacker can be a tool for such travelers who want to explore the whole planet but at a limited budget.
Backpacker travel insurance as it indicates that it is meant for travelers who wish to unravel the hidden part of the earth but at a price which is not only cheap, also provide them the complete covers during travel. Backpacking traveling as it signifies is different from normal conventional traveling because in backpacker travelers prefer going to unusual and unconventional places. They would like to go for hiking, camping, seek out low cost options such as sharing lifts, youth hostels, buying food from the super markets abroad instead of going to the restaurants.
Hence for backpacker travelers the cheap travel insurance is the prime necessity which can help them in case unconventional traveling affects their health and hence spoiling their journey along with causing them to expend on medical expenses. But since they might afford only limited budget, hence for spending on their accidents and injury they need large amounts of money which will be unaffordable to them. Cheap travel insurance for backpacker covers them against any accidents and mishaps by reimbursing them the medical cost they incur on medical treatment during travel. Cheap travel insurance for backpacker also provides coverage for trip cancellation, flight delays, interruption in flight and for medical emergency.
For buying a policy of travel insurance for backer at cheap rate you might have to search a lot because due to risk associated with it insurance companies generally offer travel insurance for backpacker at high rate instead of giving at cheap rate. However it will be convenient for you if you do this task of search about cheap travel insurance for backpacker through internet. Internet is the most sophisticated mode of doing research. When you research about cheap travel insurance for backpacker online you will come to know that almost all insurance companies have their own websites. Insurance companies put all information related to various policies on their websites and time to time they also make changes in it. So online you can collect numerous quotes for cheap travel insurance for backpacker. After studying those quotes well when you are satisfied that policy of cheap travel insurance for backpacker is giving you the required coverage at cheap rate you can decide to grab it.
Backpacker travel insurance is designed for people who travel new location at low cost budget and prefer to travel independently. Many people have curiosity to visit new locations and explore the hidden beauties of nature. Cheap travel insurance for backpacker can be a tool for such travelers who want to explore the whole planet but at a limited budget.
Backpacker travel insurance as it indicates that it is meant for travelers who wish to unravel the hidden part of the earth but at a price which is not only cheap, also provide them the complete covers during travel. Backpacking traveling as it signifies is different from normal conventional traveling because in backpacker travelers prefer going to unusual and unconventional places. They would like to go for hiking, camping, seek out low cost options such as sharing lifts, youth hostels, buying food from the super markets abroad instead of going to the restaurants.
Hence for backpacker travelers the cheap travel insurance is the prime necessity which can help them in case unconventional traveling affects their health and hence spoiling their journey along with causing them to expend on medical expenses. But since they might afford only limited budget, hence for spending on their accidents and injury they need large amounts of money which will be unaffordable to them. Cheap travel insurance for backpacker covers them against any accidents and mishaps by reimbursing them the medical cost they incur on medical treatment during travel. Cheap travel insurance for backpacker also provides coverage for trip cancellation, flight delays, interruption in flight and for medical emergency.
For buying a policy of travel insurance for backer at cheap rate you might have to search a lot because due to risk associated with it insurance companies generally offer travel insurance for backpacker at high rate instead of giving at cheap rate. However it will be convenient for you if you do this task of search about cheap travel insurance for backpacker through internet. Internet is the most sophisticated mode of doing research. When you research about cheap travel insurance for backpacker online you will come to know that almost all insurance companies have their own websites. Insurance companies put all information related to various policies on their websites and time to time they also make changes in it. So online you can collect numerous quotes for cheap travel insurance for backpacker. After studying those quotes well when you are satisfied that policy of cheap travel insurance for backpacker is giving you the required coverage at cheap rate you can decide to grab it.
by: Henry Bell
To purchase or not to purchase travel insurance, that is the question. If you have done some research or talked to a travel agent, you might have been told that insurance is absolutely necessary. After all, you have put a lot of money into airfare and booking your hotel. But does that mean you need to spend more on insurance?
Travel insurance was created to make sure your money is refunded should something go wrong at the last second. This includes many circumstances that would prevent you from traveling, like illness or a flight being canceled due to inclimate weather. If your plans are put on hold, at least you will get your money back. But there are ways this insurance can help you while you are on vacation as well.
When taking travel tours abroad, check and see if your normal health insurance will cover you in a foreign country. Often, plans either do not cover you, or are just not accepted abroad. Should this be the case for you, then invest in travel insurance. This way, you are sure to be covered if you need medical attention while on vacation.
Unfortunately, travelers these days need to be aware of terrorism when they travel abroad. Should terrorist activity occur where you are about to vacation, your airline is not necessarily required to refund the cost of your ticket. However, if you have travel insurance, you will be covered.
Flight cancellation is another eventuality covered by travel insurance. Any number of things could prevent you from leaving the ground. You might have scheduled your vacation during the worst snow storm in twenty years, or maybe you airline just goes out of business. Travel insurance protects the money you have invested in your ticket. Perhaps circumstances in your life prevent you from taking advantage of vacation deals. Should somebody in your family die or become ill, you can cancel your plans without penalty. Whatever may happen to prevent you from leaving, you are covered.
If you loose your luggage, you will also be covered by travel insurance. Usually, the baggage is returned by the airline; though, sometimes, it is simply misplaced and never found. Or, your luggage might be returned with items missing. Travel insurance gives you the money to replace anything that can’t be found so you can enjoy your trip as planned.
When deciding on a specific insurance company, it is a good idea to research your options before choosing. Different plans work best for specific vacations. Perhaps you are not buying a plane ticket, but taking a cruise. If you travel often for business or pleasure, you can even purchase a policy that covers you for extended periods of time. These plans save you the hassle of buying a policy for each individual trip. Ask questions before you make a final decision to be sure that you are getting all the coverage you need. You wouldn’t want to insure yourself, only to find that your particular vacation disaster is not covered under your policy.
by: Jerry K. Blackburn
Many of us dream about that perfect holiday or that quick getaway and when the time finally arrives to pack everything up and fly off, many want their paradise vacation to run as smoothly as the cocktail in their hand.
However, it has been revealed by a travel insurance company that many of these holiday goers do not purchase travel cover, therefore quickly turning that well planed holiday into an expensive nightmare.
A survey showed that nearly 1.3 million Brits with pre-existing medical conditions travelled abroad without telling their travel insurers about their health conditions. This is a dangerous move, as it could not only endanger a traveller’s finances, but could also jeopardise any future claims.
“Withholding key information such as any medical conditions could, however, mean your cover may be invalidated and in the worst of cases, this could mean facing large hospital bills or arranging your own repatriation,” said Sam Marrs, a travel insurance manager.
Insurance as important as the suitcase
The insurance company revealed that over the past year, an estimated 206,000 individuals concealed the fact that they had respiratory problems, 149,000 cancer sufferers also hid their health issues and 267,000 people with heart problems travelled without telling their travel insurance firm about their condition.
Marrs pointed out that honesty is always the best policy: “It's important to be honest with your insurer and provide all the information they ask for. It's simply not worth taking the risk and travelling with potentially invalid cover or no cover at all.”
Another alarming figure displayed that 500,000 people with medical problems went overseas in the past year with no travel insurance cover at all.
Factors influencing medical concealment
The study found that 19% of holiday makers said they left out information on their travel policies because they believed they would get the cover cheaper, compared to if they were honest.
Therefore, it was found that fear and cost were the two main factors as to why people did not tell their insurer about their medical issues.
A further 15% said they were worried that they would be refused cover altogether if they had told the truth and noted their health problems.
Marrs pointed out that whilst a travel insurer will set a slightly higher premium once they have found out a client’s health history, they still provide cover for most medical conditions.
She stated why travel cover was so vital: “The purpose of travel insurance is to ensure that if a disaster does strike, you'll receive the necessary care and support.”
Marrs furthered: “It's a fiercely competitive market so if you have a common medical condition there's a good chance you'll find an insurer to cover you for a fair and competitive premium.”
Insurers have reminded the public that travel cover should be top of the holiday check list, as it provides financial compensation for delays, picks up the cost if a holidaymaker needs an emergency flight home, covers medical costs and lastly, could pay for damages caused to a property.
Mike Pickard, head of travel insurance said: “accidents do happen and huge medical bills can easily rack up. It's crucial to ensure you're fully covered with quality insurance.”
by: Catherine White
Before you buy travel insurance, you need to have done some initial planning for your trip. There are a number of factors that affect the type of travel insurance you will require and how much it is going to cost you. Have as much information on hand as possible so that your Australian travel insurance company will be able to provide a robust travel insurance quote. Although you can buy travel insurance right up to the day before you leave, it is better to arrange your travel insurance in good time before your departure.
Before you buy travel insurance, here are some of the facts you will need to have answers for:
* Who is to be insured?
* What are their ages?
* Does anyone have pre-existing medical conditions? If so, what are they?
* Which countries will you be travelling to on your holiday?
* What type of activities are you going to take part in on your trip? Will they include climbing, scuba diving, skiing, or other similar “dangerous activities”;
* Do you require insurance cover for any unusual activities, such as professional sport?
* What type of luggage and personal effects are you taking with you? If you are taking expensive equipment, then you may have to itemise and declare those items to get individual cover for them.
Particularly if you are booking an expensive pre-paid trip, such as a cruise or an extensive package tour, it is important to take out your travel insurance as soon as you make your holiday deposits. The main part of the travel insurance, the cover for medical, delays, etc., is valid from the day of departure, but the cover for loss of deposits and non-refundable flight costs is valid from the day you take out the travel policy. Of course, you don’t plan to cancel your long-desired trip, but you can’t always predict the health of your nearest relatives or other unexpected events.
Think longer-term as well - if you are a frequent traveller, does it make more sense to take out an annual multi-trip policy rather than a standard policy? Depending on how long your trips are likely to be, an annual travel insurance policy can cover you for every trip you make throughout the year, including business travel.
For a younger person travelling in their gap year, they may need a policy that will cover them if they decide to work as part of their time overseas. Check to see whether it includes labouring work, as well as white-collar jobs. Many casual overseas jobs won’t include insurance in your remuneration package, so travel insurance cover is essential.
Whatever style or length of overseas trip you are planning, make sure that you include travel insurance in your “must-do” list - the sooner you buy it, the better!
by: Mark James
At this time of year, New Year’s resolutions are a long forgotten memory. The diet you pledged to stick to has been replaced by chocolate, and the strict exercise regime has gone out the window. On the plus side, you can still look forward to your summer holiday. However, travel insurance has gone through some changes in 2009 and, unlike the rest of us, the companies who sell cheap travel insurance stick to their resolutions. So before you take your well earned break, it’s worth checking your policy.
As of 1 January 2009, the Financial Services Authority (FSA) took it upon itself to regulate the sale of all cheap travel insurance from all travel agents and tour operators. A lot of tour operators signed up in advance to get FSA approval, but not all operators and travel agents have been FSA approved. It’s easy to be confused by acronyms, as a lot of travel agents are members of ATOL or ABTA which gives the impression that they are certified and approved to sell cheap travel insurance.
For clarity, ATOL is the Air Travel Organisers’ Licensing which is a part of the Civil Aviation Authority (CAA). ATOL helps to protect travellers abroad by making sure that the tour operator or travel agent they book their holiday with has the financial reserves to compensate their customers, should anything go wrong. If an ATOL approved company goes bust, holidaymakers are guaranteed to get their money back and a flight home should the company collapse whilst a customer is on holiday.
ABTA is the Association of British Travel Agents and is a representative body of 5,300 travel agents and almost 1,000 tour operators. ABTA are a representative body which acts on behalf of its members to ensure high standards of trading practice among travel agents. However, whilst ABTA membership does mean customers will get “choice, value and high levels of service” there is no requirement for ABTA members to provide cheap travel insurance.
In essence, what this means is that whilst carrying the ATOL or ABTA badge might help you source a good travel agent, in reality this has no bearing on their ability to provide you with cheap travel insurance. If you are going to buy a policy, make sure it’s from a reputable vendor that has approval from the FSA. Without it, you could be in severe trouble should you have an accident abroad.
by: Kim Chambers
Getting Covered: How To Find The Right Health Insurance Plan
Posted by gandalf Labels: Health insuranceHealth Insurance 101
It can be scary to get sick, with the doctor's visits, medication and the feeling that you don't quite know exactly what is going on.
However, possibly more frightening than that is going through all that without the safety net of health insurance to lighten the amount of medical costs you will incur through inevitable treatment and care.
There are roughly 46 million people in the U.S. currently living with no health insurance, and while the government is working on a way to reform the healthcare industry, a new kind of healthcare plan may still be a couple of years away.
For the uninitiated, this may be a good time to get familiar with the basics of healthcare because aside from some its confusing aspects, it's more important to live with health insurance than live without it.
Do I even need healthcare insurance?
Without health insurance, a person or family may be forced to incur the full costs of their doctor's visits and hospitalizations, which can quickly accumulate to a small fortune. Also, it isn't enough to just get treatment when you are sick. Preventative care is another important element of healthcare and could save on costs in the future.
Getting regular checkups and physicals with a doctor within your healthcare network can ensure that you are keeping an eye on your body and maintain optimal health.
Finally, people who are under a health insurance plan will pay less for doctor's visits and hospitalizations when compared to people who are not enrolled in a plan. And given the current state of the economy, isn't the name of the game being fiscally responsible?
But how does this system work?
In a typical healthcare plan, which is called a fee-to-service plan, an enrollee pays a monthly premium (which is like a monthly subscription for a certain service) and when the patient has to visit a doctor or a hospital, the health insurance provider pays a portion of the bill.
The customer pays a lower portion of the bill for the healthcare service, called a co-pay. This may include routine medical visits, visits to the emergency room and dental checkups. Without health insurance, a routine physical can cost as much as $200. With coverage? $20.
Which plan is for me?
Good question and it's one that only you can answer since there's a lot of different factors that go into choosing a healthcare plan.
One thing to keep in mind is a term called "pre-existing conditions." If you had a known illness or injury prior to you signing up for healthcare, it may affect your coverage. Some plans only consider a condition pre-existing if treatment was involved. Other plans may have a wider definition.
After that, it's important to determine what exactly you need from a healthcare plan. Older people may want coverage that includes surgeries and prescription medication while younger people may be more inclined to embrace a plan that's more about preventative care.
Another element to factor in is whether or not you have a certain doctor you are comfortable with or a family doctor who knows your medical history well. Some healthcare plans have specific networks that only allow you to visit certain doctors, while others allow you to see whoever you choose.
The co-pay may be a bit higher for the out-of-network physician, but if it's with someone you trust, it may be worth it.
If you are between jobs and waiting for the start of your coverage from another health insurance, or if you are on strike or laid off, or if you are a seasonal employee or recent college graduate and your need is for only a specific period of time, short term health insurance may be a great option for you.
Who has these plans?
Most people in the U.S. get their healthcare insurance through the company they work for, which most likely has a relationship with a certain healthcare insurance provider.
However, some people like to investigate the kind of coverage a different provider has or may want to have health insurance that isn't tied to their job, in case they leave that company or get laid off.
In that case, some people have employed a health insurance agent to help them determine which public healthcare plan might be best for them.
Staying with the same healthcare plan may also help people avoid experiencing gaps in coverage if they lose their job. Gaps in coverage can be a potentially dangerous situation because you will be solely responsible for any medical bills.
About The Author
Sandra is an experienced health insurance consultant with an immense educational background in the insurance industry. Having worked at a major health insurance agency, a leading brokerage firm, and as a consultant since entering the health insurance industry in 1992, Sandra has acquired an extensive and varied background in the health insurance industry.
by: Sandra Cohen
You probably have health insurance in Australia, right? So, shouldn’t you make sure that your health and emergency medical costs are also covered when you travel abroad? Travel health insurance covers your medical costs when you travel overseas. Your Australian health cover and Medicare are unlikely to cover you for overseas travel and medical costs overseas can be a lot higher than those you are used to in Australia.
Even if you don’t have regular health insurance at home, you should consider travellers’ insurance to cover you for a medical emergency or accident. The reality is that even normally healthy people often get sick or even worse on holiday. Ever noticed how as soon as the pressure comes off and you get to relax, you come down with the flu or worse? Overseas holidays for Australians generally start with a reasonably long flight. Flying is a great way to pick up a disease before you even reach the resort’s poolside bar!
Having arrived at your holiday destination, there is, of course, the usual risks of a climate you are not used to and local food - again, food poisoning is not just a cliché; it can result in a serious medical emergency if you get unlucky.
Often, your average holidaymaker gets into trouble when they go from a sedentary office job in real life to deep sea diving or skiing on holiday. It seems that we all feel invincible on holiday, and in some cases, the joy of the moment overcomes common sense safety precautions. Or our unfit body is just not up to our athletic ideals!
Plus, things do sometimes work differently overseas; for instance, how many tourists have ended up in the hospital because they forget, just for a minute, that they are driving on the wrong side of the road? It’s particularly easy to forget if you hire a scooter, as is commonly done in the Pacific and some Asian countries. Scooters don’t have an offset steering wheel to remind you that you should be keeping right on the road!
Travel health insurance can help if the worst happens while you are overseas. For most people, it won’t happen, but just because you have never had an accident or a serious illness at home doesn’t mean it can’t happen to you at some point. You should not assume that it can’t happen to you on holiday – unfortunately, it can. Being ill or injured on holiday is bad enough, but you don’t want to return home to a lifetime of debt to pay off the bills!
A good travel health insurance policy is a small price to pay for peace of mind. It will cover you not just for serious medical assistance, but also for English-speaking assistance if you need advice for a condition that is worrisome. Is it a bad cold or malaria? If the worst happens, it will pay for the MediVac home too. If that skiing accident resulted in a broken leg - you may need a first-class seat to get home - travel insurance will normally pay for that too.
Travelling is great fun generally, but sometimes, it’s a bit tough on your health. That’s why travel health insurance is a must have for your packing list.
by: Mark James
The economic crisis is making it hard for everyone to earn a decent living. During the last year, millions of Americans lost their jobs because of the recession. But aside from the emotional and financial consequence of losing a steady paycheck, there are other concerns you need to deal with as well. One of the issues that a lot of laid-off employees are concerned about is their health care.
An employer effectively stops paying for the employee’s health care on the last day of the month when employment ended. It is critical for a person to look for health insurance while he is in-between jobs. This is because even if he finds employment immediately, his health coverage will only restart after 30 days of employment on the first day of the next month.
There is at least a two-month gap that should be filled. In addition, a person can be considered lucky if he is able to find work immediately. Today’s tough economic times have effectively halted hiring in a lot of industries. Below are some alternatives a laid-off employee can look into:
Short Term Medical Insurance – this health insurance plan can range from a single month to three years. It has been specifically designed to fill the gap from one plan to another. This insurance is inexpensive but it does not cover the cost of treating existing medical problems. Another drawback is that it also cannot cover serious long-term illnesses and pregnancy. But those with predictable expenses such as prescription and outpatient therapy should consider this insurance.
COBRA – if you worked for a company with 20+ employees, you are allowed to keep your health insurance for up to 18 months at your own expense. Because of its high monthly premium, a lot of people avoid this option unless they have an existing condition that requires ongoing medical care.
Individual Conversion – this has the same results with the COBRA option but it is designed for the employees of smaller enterprises. Individual conversion allows employees to convert their program from a group plan to an individual plan without the need to provide eligibility requirements.
These three options allow employees who had been laid-off to enjoy medical benefits until their next employment.
by: Bernz Jayma P
While the majority of people do realise the importance of having contents insurance to safeguard their possessions from theft and other disasters, very often the contents of the garden are sometimes forgotten and, if you have expensive patio furniture or such like, then this could be a huge mistake.
In a recent study it was found that here in the UK we spend millions on garden furniture, plants and equipment to enjoy what little summer we have. With theft of garden and patio furniture on the increase it is essential that you make sure if you are covered for these in your home insurance policy.
Another fact that came to light was the fact that while people protected their homes with security features very few people gave much thought about enhancing the security in the garden or patio. This has left them wide open to the rising figures of garden and patio thefts which are thought to be around the 1.4 million mark.
However there are many simple ways that you can help to protect your home and garden. One way is to make sure that you get into the habit of enuirng that you put all expensive garden equipment in a locked shed. One of the best precautions that you can take when it comes to securing your garden is to make sure there is plenty of good protection to stop thieves even getting close; a simple sturdy fence is all that is needed to keep prying eyes out.
However, even with the best of intentions and added security,y thieves can still strike and invariably do, so it is essential that you make sure that your current policy covers the extras such as furniture, garden equipment and even such things as bicycles if they are stored outside.
Very often such things will need to have a separate policy in order to cover them; while some policies will have this clearly outlined, more often than not it is in the small print.
When shopping for insurance for your home, the quickest and easiest way to do so is to use a specialist broker, not only can you find excellent advice but you can also get the cheapest premiums. If the cover of the policy doesn’t extend to cover your garden equipment then some companies will give you huge savings if you take extra cover at the same time as your home contents insurance.
by: David Thomson
Get all Required Protection with Cheap Home Insurance Quote UK
Posted by gandalf Labels: Home InsuranceHome insurance in UK provides a sense of security in you that your home is safe. If you wish to buy a home insurance in UK then the cheap home insurance quote available in UK can be of prime need for you.
Although home insurance can be quite expensive depending upon the value of your home but if you want to get home insurance quote in UK at cheap rate then you will have to keep some factors in your mind. Cheap home insurance quote in UK is purchased by people for saving their home against any loss or disaster which might be beyond their capacity to bear in the happening of any event. Home insurance quote in UK is generally given by insurance companies at cheap rate depending upon some facts like the deductibles paid and safety measures installed in your home. If you are residing in a home which is near to the fire station and police station then insurance provider will prefer to offer cheap home insurance quote in UK because it reduces the risk of danger from theft. Payment of higher deductibles can also make you available the cheap home insurance quote in UK.
Quote for cheap home insurance in UK gives protection to your home in case of calamities like hurricane, earthquake, and any other sudden natural disaster which might cause unbearable losses and damages to your home. Even sometimes incidents like riots, vandalism, and malice acts can be very disastrous for your home. So instead of living in danger it is better if you take some home insurance policy after studying well the home insurance quotes at cheap rate.
Another way of getting cheap home insurance quote in UK is to take your home insurance from the same insurance provider from whom you have taken your any other insurance policy. In this way you can not only get cheap home insurance quote in UK but might also get discount with your policy.
Insurance providers in UK provides quote for cheap home insurance on the internet. Online availability of cheap home insurance quote in UK has removed your tension to search about the best policy of home insurance. Insurance companies will provide you all the information online which you might need when buying a cheap home insurance quote in UK. Hence in UK internet is the best mode of searching about the cheap home insurance quote. From innumerable online quote for cheap home insurance in UK you can compare and choose the best one for yourself.
by: Henry Bell
Home insurance quotes help home owners compare the benefits of a coverage protection product with the costs. Quotes lay out the various features of the insurance, including the various coverage components, the amount of protection for each, and the premium costs associated with each element of the coverage.
Home insurance quotes are usually sought by new home owners, customers looking to remortgage, or those simply not satisfied with existing coverage. With new home purchases, lenders generally require a certain amount of insurance protection to be in place prior to funding to the loan. This helps alleviate some of the lender’s risk to know if the property is damaged, they have a better change to regain some or all of their investment.
A home insurance quote is one of the best resources a customer has when looking for a new home insurance plan. Along with a service provider’s reputation and promise of service, a home insurance quote is the communication with a prospect that helps sell a protection plan. It lets the customer know what the benefits are of the protection, as well as the costs and monthly premiums.
A current home owner, or experienced home owner, looking for a new home insurance plan has a little bit better ability to evaluate home insurance quotes. Often, new home owners are overwhelmed with the work and energy required with the home purchase and moving processes. They simply look at a quote, try meet basic coverage requirements at minimal costs.
Unfortunately, some home insurers are happy to work with customers to help keep costs of coverage down, sometimes at the expense of having full or adequate coverage. There is more to finding quality home insurance than a cheap premium. A specialist home insurer understand the home insurance needs to be detailed enough to cover the replacement cost of main home buildings as well as external buildings and other pieces of property tied to the home. Additionally, home insurance should provide coverage for personal items that might be lost in a fire, flood, or home tragedy.
It is likely worth a few extra pounds in premiums each month for the peace of mind to know that one is protected from thousands in losses from home damage. A good home insurer does not cut corners on protection to provide home insurance quotes with the cheapest cost possible. They work with customers to explain all aspects of the quote including the features and benefits of coverage, while still working to maintain a reasonable premium cost.
When obtaining home insurance quotes customers need to be aware of their requirements for both building and contents protection. Some customers are more concerned with strong buildings protection when the value of their property is higher and when there are out building or other property pieces that need protection. Other customers that have significant personal items may require thorough contents coverage. Most customers need to consider a solid combination of both types of coverage when working with a home insurance specialist.
by: Jason Mark Hulott
Brits need to follow important home insurance tips when looking to protect their most valuable property. Finding the right cover at the right price is as important to a home buyer as getting a good deal on the purchase of the property. Many home owners learn the hard way that cutting corner on home protection is not a good idea.
Home insurance is vital to providing security and protection for the investment and risk Brits bring to a property purchase. The biggest mistake many Brits make when buying home insurance is cutting corners on premium costs to save a little money. Most lists of home insurance tips begin with making sure to obtain full protection near the top.
Some insurance customers mistakenly believe that insurance protection should cover the current market value of their home. This is not correct. Full insurance cover usually covers a bit more than the current market value of the property. Home insurance is needed to provide for the cost to rebuild or replace damage to the home. Thus, protection should be based on the cost for replacement, including materials and labor. A home that was built using different materials or materials that have increased in cost, would require more money to replace than the existing home cost to build.
Along with providing for replacement of the main building of a property, full cover should also provide protection for out buildings, gardens, or other external property pieces that are important to the property.
The problem for many consumers is that some home insurers, attempting to be helpful, recommend lower cost premium options that save the customer a little money each month, but could potentially cost them thousands of pounds if damage is incurred to the property. A home insurance specialist assists customers by finding protection solutions that provide peace of mind that their full property is protected, while also providing a reasonable cost.
Home insurance should also cover the loss of personal property maintained in the home. Insurers typically ask the customer in an interview for an estimate of the value of personal property. This protection benefit helps cover the personal items that could be lost in a fire, flood, or other disaster.
Other home insurance tips for buyers include finding other customize solutions that might help in a home owner’s particular situation. Many standard insurance plans also provide protection for injury to either residents or guests who might be injured in the home. Especially with homes that have stairs or other potential health hazards, it is important for owners to have protection in the event of liability.
Obtaining adequate home insurance protection is the most important of all home insurance tips. Again, it is more important that a home owner be protected from the potential loss of thousands of pounds from home damage or loss, than it is to save a few pounds each month in insurance premiums by cutting corners. Home insurance is an investment in security and peace of mind. It is an investment in one’s future.
by: Jason Mark Hulott
A home insurance web site is a great resource for a new home buyer or a current home owner looking for new protection. With improvements in technology and the massive move of businesses to the internet, home insurance customers have gained greater access to a variety of information and resources from home insurance providers.
A specialist home insurance website offers many advantages to a home owner. Expert advice and knowledgeable information is a great benefit to a customer looking to find the best coverage. Another great benefit of a home insurance site is instant access to a variety of coverage products and quotes. Customers can quickly sort through benefits of different types of coverage and get quotes for plans that protect the home owner’s unique situation.
A home insurance website typically requests details about the property being purchased or covered. The details required usually include property type, year built, number of bedrooms, other property specifics, as well as contact information for the requestor. Using the information submitted, an insurer either contacts the inquirer by phone or email with quotes or options for coverage.
The major benefit of a good home insurance website is convenience. It allows customers to explore different types of coverage, learn about various insurance plans, receive tips about getting the best coverage at the best prices, and obtain instant quotes. For home owners, this convenience is especially important given the stress associated with the process of buying a home. Buying a home, obtaining a loan, and other aspects of the purchase process require time and energy. Home insurance specialists want to provide the most efficient, yet thorough benefits possible to customers.
When exploring home insurance websites, customers need to keep in mind all of their coverage needs. Some customers mistakenly look for the lowest premiums available without focusing on the security of having full and adequate coverage. Home insurance protection should not only cover the home dwelling, but it should cover the cost of replacement for external buildings and items included on the home’s property.
Along with buildings, home insurance protection usually includes protection of home contents. If a home suffers a fire, flood or other incident, the owner not only should be insured for home replacement, but also for the loss of personal property maintained in the home. Using a home insurance website makes it much easier for the customer to explore the right amounts of building and contents coverage and potential costs.
Premiums for insurance are based on the replacement costs for the building and other elements, as well as the value of personal contents. Other factors that influence cost include fireplaces, flood potential and other structural and environmental factors that are higher or lower risk to the insurer. The more risky the location or coverage to the insurer, the more costly the premiums are.
The nice thing about a home insurance website is that they offer specialized information and tips to customers looking for the best coverage and rates. Tips are often useful in helping customers find discounts or get better rates based on their specific circumstances.
by: Jason Mark Hulott
If you finance your home your mortgage-holder will require that you purchase homeowner's insurance. However, here in Louisiana over 94% of all homeowners who own their home outright - and so are not required to purchase homeowner's insurance - still choose to purchase it.
Why would homeowners do that? For the simple reason that a home is the largest and most prized asset that most people own and they are very motivated to protect that asset.
If you live in an area where high winds are likely to damage your home, or where your home is susceptible to flooding you should talk to your agent about special coverage for those two specific perils.
Even though the vast majority of homeowners want to purchase homeowner's insurance, very few people want to pay any more for their insurance than they have to. Fortunately there are several actions you can take that will reduce the cost of your coverage.
Start by keeping your credit record spotless. Many people are unaware of the fact that your credit score affects how much you pay each month for your homeowner's insurance. Treating credit wisely will save you money when it comes to your homeowner's insurance.
Paying your premiums yearly rather than monthly will also save you money. If that's not in the cards then set up automatic premium payments each month out of your checking account. This will also save you money.
I'm sure you are already aware of this, but I'll mention it anyway - you want to insure your home for the full amount that it will cost to rebuild it and the full amount it will cost to replace the contents of your home. What you do not want to insure is the value of the land that your home sits on.
A portion of your monthly premium is based on how safe your home is - in other words, how likely is it for someone to be hurt on your property and make a claim against your insurance company? Lessen this risk and your homeowner's insurance should be lower. Be certain you let your agent know about any work you do; before and after photos are a good idea.
Start by removing and replacing any uneven or buckled cement work. Fix or replace any broken or lose floorboards on porches or decks and make certain that all railings are secure. Fill in any potholes on the property.
Next make your home less of a target for burglars. Install motion-sensitive lighting and trim all bushes away from windows so that burglars have nowhere to hide. Make certain that all exterior doors have a deadbolt lock and that all windows have a working lock.
Water damage caused by broken water lines is the biggest reason for homeowners to file claims against their homeowner's insurance, so upgrading your plumbing and/or electrical systems can save you quite a bit each month - but talk to your agent about this first and make sure the savings will be worthwhile.
Installing a 24/7 home security system can save you around 20% a month on your homeowner's insurance, but talk to your agent about the system you plan to purchase before you make a commitment as not all systems will give you the full discount.
If you have a home-based business it might be possible to write off all or a portion of your home protection system on your taxes, giving you a double savings.
Buy and install a kitchen-rated fire extinguisher in your kitchen.
Make sure you have the proper number of smoke and fire detectors and that they all have working batteries - batteries must be replaced twice yearly.
What about your deductible? If you can increase your deductible you will decrease how much you pay each month for your insurance. Be cautious, however, because if you ever have a claim against your insurance company you will have to come up with your deductible in cash so don't offer to pay more than you can actually afford.
Buy your homeowner's insurance online. This will almost always save you money. However, don't rely on just 1 of the price comparison websites because each site only compares a few insurance companies. If you want to find the lowest rate possible you'll need to use what you learned in this article to fill out the form on a minimum of 3 different homeowner's insurance price comparison websites.
Remember that if you want your comparison to save you the most money possible you'll need to fill out the form on all 3 websites with the same information.
As soon as you've made your price checks on at least 3 different websites then your job is done and all you have to do is decide which companies you feel comfortable will still be in business 30 years from now and simply choose the best price from among those companies. And that's all there is to getting affordable homeowner's insurance in Louisiana.
by: Alexis Jensen
Most cheap travel insurance bought in the UK is aimed at people resident in the UK and indeed, will require customers to indicate that they have lived in the UK for a period of six months. It is also a fact that most people buy travel insurance for trips and holidays abroad but insurers do offer policies for travel just within the UK. It is not uncommon to find that Ireland will be included in this definition. The big advantage of UK only cover is that the premiums can be ridiculously low - well below £5 for a 3 day break is very common place. But is it worth taking out in the first place? The answer really depends on the type of holiday planned, the length of stay and whether you want to accept the risk of not being covered if something does go wrong. It is also worth remembering that UK travel insurance cover is generally included if you take out the more expensive Europe of Worldwide cover, though do check the small print rather than assuming that this is always the case. A Europe or Worldwide annual multi-trip travel insurance policy will be more expensive as an initial payment up front but will cover you for an unlimited number of trips abroad, and in the UK, throughout the year, provided the length of stay of each trip does not exceed the policy limit, normally around 31 days away per trip.
So is a UK travel insurance policy worth considering? Probably yes if only one or two short breaks a year are planned and it will be very inexpensive to purchase for the cover provided. This can be very useful should you subsequently cancel a trip, say for illness, as your holiday costs will be reimbursed subject to any excesses to pay. Your personal effects will probably be covered too which is an important point to consider as theft and loss is not just confined to holidays on the ‘Costas’ – these things happen at home too. What you will almost certainly not be covered for will be for medical emergencies and expenses as insurers argue that the NHS is available for such instances and will point out that travel insurance is not a substitute for private medical insurance. The lack of medical cover in UK only travel insurance policies is the main reason why insurers can offer these policies for the very low prices on offer.
On balance, travel insurance for UK holidays and short breaks is probably a good buy for those holidaymakers who tend to stay at home for their breaks away and there is an increasing number of people who are doing this. One final word of warning though is do check the small print as many, if not most, insurers do require you to have proof of booked accommodation for a minimum stay of normally 2 nights away for the policy to be in force so the Sunday ‘trip out’ is definitely outside this definition!
by: Keith McGregor
Mortgage Payment Insurance Can Protect Your Home From Repossession
Posted by gandalf Labels: Home InsuranceIf you should find yourself unable to work and lose your income then finding the money needed each month to continue making your mortgage repayments could be a struggle. In the worst case scenario the situation could lead to you getting behind on your loan and ultimately losing the roof over your head. Mortgage payment insurance can protect your home from repossession, providing you ensure that the policy is suitable for your needs.
There are certain exclusions that can habitually be found in a policy. Being retired or self-employed, suffering an ongoing illness or only working part time as opposed to full time can all mean you would not benefit from cover. However, this is just a guideline and the exclusions are not set in stone: all policies vary. For example, you could benefit from mortgage payment cover if the illness has not reoccurred during the last two years. And if you are self-employed and you find yourself having to cease trading through no fault of your own, then a policy could pay out. It is essential that you read the terms and conditions fully before taking on the cover.
Finding information on the exclusions in a policy can be hard. Often, very little information is given when buying the cover alongside borrowing from the high street lender. Also, sales techniques at high street lenders have been known to be poor, with staff having very little training in selling payment protection products. A better way to make sure you get your hands on the vital information needed is to choose to buy a policy independently. By going to a specialist provider of payment protection you can also get the cheapest quotes. This could mean you save up to 40% on your mortgage cover.
Quality cover from an ethical provider would give you a tax-free payout after being unable to work for between 30 to 90 continuous days. The income you gain from the policy would mean you can relax and not worry about money. This allows you to concentrate on getting well or to find another job.
Those individuals who assume the state would help in their time of need can find themselves unpleasantly surprised. You have to qualify for help from the state, and having savings of more than £8,000 would mean you were not entitled to receive anything. If your partner works full time this would also exclude you. In addition, if your mortgage was taken out after 1995 then you would have to wait for a period of nine months before you would see any money. Even when you started receiving benefit, it would only be for the interest part of your mortgage, and then for up to the first £100,000 only.
While mortgage payment insurance has a bad name along with the rest of the family of protection policies, it can be a worthwhile buy. The product itself has never been an issue; the problems lie with the way it has been sold. Buying from a specialist provider does away with the problems associated with poor selling because an ethical provider will give you the information needed to ensure a policy works for you.
by: Simon Burgess
