Rabu, 30 November 2011

Getting A Payment Protection Insurance Policy And What You Should Be Careful Of

In life, you always have to account for contingencies. You can never tell when emergency situations may occur. If you're not prepared, you will end up being overwhelmed. Not only will this stress you out, but the financial consequences can be quite burdensome as well. That's why it pays to think about taking out the proper insurance policies. You can never go wrong in investing in the right kind of coverage. For example, there are the usual life and health insurance policies. There is also vehicle insurance coverage for those owning such means of transportation. However, there are still other situations to take into account.

For example, it also cannot be avoided that we have to borrow money once in a while. That's why we take out loans and enter into credit agreements. It's also the reason why we rely so much on credit cards. But this also gives rise to another problem which we cannot always foresee. Take the case when you suddenly become unemployed or incapacitated to continue working. In such a situation, you won't have any regular income to make your repayments. For sure, you will incur in defaults and this will lead to even bigger headaches in the future. Hence, it's also recommended to take out a payment protection insurance if you can afford it.

A payment protection insurance can guarantee that you will still be able to make your repayments even when contingencies arise. It is usually designed to cover you for a specific period of time while you try to get things together again. In other words, it buys you time to think of more feasible solutions to meet your financial obligations. It is not intended to cover all your debts. However, there are some people who do not fully understand the concept of a payment protection insurance policy. As a result, they end up taking out the wrong kind of coverage.

This is where mis-selling of such policies became controversial. More than just a few people were victims of this scheme. They overpaid on their policies because they were not informed that they could actually shop around before settling on a coverage. They end up buying a branded package and paying for the same at a much higher price. This also started the move for claiming PPI refunds. For this reason, you should always be careful when you engage in such transactions. Make sure you research a policy thoroughly and see if it addresses your needs.

Rabu, 09 November 2011

Different Ways to Get Cheap Car Insurance

There are several things which we can do to lower the insurance rates and some of these are quite obvious. Some will be less obvious but, nevertheless, they are worth a mention to save those dollars every month.
Most of us have anti theft devices on our cars these days and it is worth mentioning when asking for a quote from a licensed agent. They will have their own questions to ask, like how many miles the car does annually etc, so it may be best to have all this information ready. Cars which have stenciled numbers on the glass also qualify for a discount since it is hard for anyone to steal a windscreen or wing mirror when the number of the car is actually engraved into it.
Asking for group insurance on more than one car is also a possibility particularly if the cars belong to one company or family. Very often there is not much difference in insuring one car or two so this can turn into quite a substantial saving.
Getting rid of a second or third car under this group insurance policy may well push the price of the insurance up. Check this out first and keep the excess car on liability cover only if this makes economic sense.
Older cars do not necessarily need a fully comprehensive cover so drop this if possible. Increasing the deductible amount, the portion of the claim paid by the insured person when an accident has happened, will also mean less to pay over the year. In fact, grouping together several discounts like this almost guarantees cheap auto insurance for just about everyone.
When looking for deals on insurance online, always try to check out several and see what kind of different aspects each will have. This takes a bit of studying and the cheapest is not always the best policy. Try to find a cover which best suits the individual needs of the driver and/or family so that most needs are met. Try at least three companies for quotes for cheap auto insurance and compare them side by side. Don't forget to tell them of any devices being used on the car or anything that will make the slightest difference in the quote.
People also do not realize that it is sometimes cheaper to get insurance for cars online since the company does not have to employ agents to come out with the policies etc. In fact, this is possibly the cheapest way to get auto insurance but, and this must be said, do not tell little white lies to get the lowest rate because if an accident occurs and the truth comes out, the whole policy may be voided. Even if it means paying a few dollars more, it is better to know that one is covered under any eventuality.