Car Accident Insurance companies as with any other insurance companies may deserve some of the bad reputation they are getting because they do look out for their own benefits like any other private companies in any industry.
However, they do fulfill an important role especially for people who own a car. Car accident insurance protects you financially from future liabilities.
They act as a safety blanket for your finances in case you get involved in a car accident.
Car accident insurance is a contract between you and the insurance company; you pay the insurance company now, they pay for your car expenses in the future.
Car Accident Insurance coverage
There are various types of car accident insurance ranging from required to optional plans. But before you choose any type of car accident insurance, the first thing you should do is check the type of coverage the plan offers.
Here are the basic types of car accident insurance coverage:
• Liability Coverage – This is required to all car owners in most states. This provides compensation for injuries and property damage caused to others. This includes medical expenses, loss of wages and pain and suffering.
Remember, this covers the expenses of the other people involved and not yours. In addition, you have to be the one at fault for the insurance company to pay.
• Personal Injury Protection – This is optional. It does not matter who is at fault, this covers the medical expenses of both you and your passenger for injuries you sustained after a car accident.
• Collision – Also optional, it covers the repairs needed for your car after a car accident.
Car Accident Insurance Rate Factors
Car Accident insurance rates vary from each case. There are different factors that affect the rates for each person.
Here is a list of some of the general factors that are used to determine car accident insurance rates:
• Age – According to statistics, drivers that are below 30 years old are more likely to be involved in a car accident than other age brackets. Therefore, car accident insurance rates for younger drivers are higher.
• Gender – Similar to age, statistics also show that men are more likely to be involved in a car accident than women. Therefore, men have higher car accident insurance rates than women.
• Type of Car – The more expensive the car is the higher the car accident insurance rate will be. Expensive car repairs are more expensive and it has the higher risk of being stolen.
• Location – Car accident insurance companies also consider your location as well. That is because the risk of car accidents increase in heavily populated areas.
• Driving Pattern – The more a car is driven, the higher the car accident insurance rate is.
What to do after a car accident?
Here is a guide of what you should do after a car accident:
• Call your insurance company as soon as possible. There may be a time limit on when you can inform the insurance company. Better be safe.
• Review the coverage given by your car accident insurance so that you know what to expect.
• Report the accident and get a copy of the police report.
• See a doctor and get yourself treated. Get a copy of your medical documents pertaining to your injuries.
• Do not release statements to insurance companies without a lawyer.
• Consult a personal injury lawyer to help you get the best out of car accident insurance companies.
by: Mark Dacanay
The actions required in removing acne scars can be expensive. Depending on the severity and amount of scarring, multiple treatments may be needed in order to effectively minimize the lasting effects of acne. The problem that many sufferers face is finding a way to pay for removing acne scars if their medical insurance does not cover the cost of treatment.
Because removing acne scars may be considered, by some insurance providers, as a cosmetic procedure, it may be difficult to get an approval. If you are considering a procedure that will aid in removing acne scars, the best way to learn if your medical insurance covers this type of treatment is to review your policy. Whether your insurance is provided through your employer or you obtained it directly from an insurance provider, you should have a detailed overview of your coverage. Many providers do not cover the cost of cosmetic treatments and/or surgeries, which are often deemed as cosmetic or plastic surgery. If you still have questions after reviewing your policy, call your insurance agent to inquire about coverage.
If coverage is in question, it may help to have your physician provide a written recommendation to your insurance company. This letter should include the physician’s name, contact information and his/her determination and recommendation regarding treatment to help in removing acne scars. Once this letter is submitted to your insurance company, a response should be given within 30 days. This can either be to the physician directly or to you, but the insurance company will reply with an acceptance or denial.
In the event that you request for medical insurance coverage relating to removing acne scars is denied, there may still be other options. For instance, if your condition warrants laser surgery for removing acne scars, the hospital may offer a payment plan to help cover the cost of the procedure. Many hospitals provide this type of financing to help their patient’s afford treatment that would otherwise be unavailable to them due to lack of medical insurance. In order to be granted a payment plan, you would have to first determine whether or not one is available. This can be found at the hospital’s billing office. If payment plans are available, your physician would have to determine a total cost for removing acne scars and provide it to the billing office. Following the procedure, the hospital would issue a bill and, if you are signed up on a payment plan, would give you the opportunity to make low monthly payments.
The information in this article is intended for informational purposes only. It should not be used in place of, or in conjunction with, professional medical advice. Prior to beginning any attempt at removing acne scars, individuals should consult their dermatologist for proper diagnosis and/or treatment.
by: Jeyanth Watson
RNCOS, in its latest market research report “Saudi Arabia Insurance Market to 2012", states that the health insurance market, which represented close to half of the Saudi insurance market in 2008, is predicted to grow at a CAGR of about 30-32% during 2009-2013. Due to its compulsory nature, there has hardly been any impact of global financial crisis on this market; in fact, the YOY growth in 2008 was much higher than 2007.
With the significantly increasing role of private insurance companies to develop the scope for insurance cover, the health insurance market in the kingdom is expanding at a rapid pace. At present, the kingdom's approx 7 Million expatriate workers, including domestic workers are obliged to show proof of health insurance cover to renew their residence or work permits. And, with recent introduction of compulsory health insurance for private employees irrespective of the size of the company they are working with, the health insurance market in the country is set to record further growth.
Moreover, the government is also planning to make the health insurance cover compulsory for the 9 Million religious pilgrims who visit the country every year. Currently, the government subsidizes healthcare for the hundreds of thousands of pilgrims who fall ill in Saudi Arabia each year. This leaves ample room for the market to expand and the new health insurance companies to build up their operations.
“Saudi Arabia Insurance Market to 2012" is a comprehensive research report that comprises quality research and in-depth analysis on the insurance market in Saudi Arabia. It studies the emerging market trends, recent developments and their impact on the market. The report will help clients to analyze the leading-edge opportunities, prospective customer base, key players and all the other factors that are critical to the success of a new entrant in the insurance industry of Saudi Arabia. Most importantly, the report also gives future outlook on each of the important insurance segments, which will assist clients in making prudent investment decisions.
by: Shushmul Maheshwari
How Homeowners Can Navigate Choppy Waters With Ease!
The purpose of flood insurance is to protect property owners and renters against losses from floods—losses that a typical homeowner's policy does not cover. Whether you have a condo or a house, whether you're a builder or a renter, here's information to help you know who is eligible for this insurance, where to obtain it, and how the program works.
Flood insurance is available only in communities that participate in the National Flood Insurance Program (NFIP), a program of the Federal Emergency Management Agency (FEMA).
Homeowners, builders, and communities want to preserve and protect their property. What measures exist to help them?
Why Have Flood Insurance?
You may not think you live near enough to water to be at risk, but dams and levees do break, drainage systems can become overloaded and back up, and hurricanes can veer off path.
Protecting your home and belongings with flood insurance is far less costly than cleaning up after the fact. Nor can you depend upon Presidential Disaster Declaration aid. Even if such a declaration is made for your area, it can be a long time before the money arrives.
The National Flood Insurance Program
Over time, the US government realized that the measures in place to discourage unwise land development or to decrease losses from floods simply didn't work. Therefore, in 1968, Congress established the National Flood Insurance Program to protect property owners against the possibility of loss.
How Does It Work?
A community must agree to adopt and enforce a floodplain management ordinance that is designed to reduce future flood risks in Special Flood Hazard Areas (SFHAs). When a community follows or agrees to follow these laws, the federal government will make flood insurance available to every property owner in that community.
Each property owner must then follow all of FEMA's and NFIP's requirements whether or not he or she purchases flood insurance. One of the requirements is properly installed flood vents.
How Do You Define Community?
A community is any State, area, or political subdivision; any Indian tribe, authorized tribal organization, or Alaska native village; or authorized native organization with the authority to adopt and enforce floodplain management ordinance for the area under its jurisdiction.
Community participation in the NFIP is voluntary, although some states require participation as part of their floodplain management program. Each community in an identified flood-prone area must assess its flood hazard and determine whether flood insurance and floodplain management would benefit its residents and economy.
How are Flood Hazard Areas Determined?
The Federal Emergency Management Agency (FEMA) produces maps that identify various flood hazard areas, such as the Special Flood Hazard Area (SFHA), a high-risk area that stands a 1% chance of occurring in any year. The government believes that this high-risk standard is a reasonable compromise between the need for floodplain development and the need for building restrictions aimed at minimizing loss of life and property.
Development can take place in the SFHA as long as it complies with local floodplain management ordinances that meet the minimum federal requirements. Flood insurance is required for insurable structures within high-risk areas.
What Kind of Requirements Are There?
When a community participates in the National Flood Insurance Program, every property owner in that community has to follow all of FEMA's code requirements as set out in its floodplain management ordinance. That's true whether or not the property owner buys flood insurance. These code requirements include but aren't limited to foundation openings (also called "flood vents") and first flood elevation height requirements.
What Types of Structures Can Be Insured?
If you are in a community that participates in the NFIP, nearly every type of walled and roofed building that is mostly above-ground and not entirely over water can be insured. This includes mobiles homes and traveler trailers without wheels that are anchored to permanent foundations. Separate coverage is available for the contents of these buildings.
What isn't insurable under the NFIP?
Buildings entirely over water or principally below ground, gas and liquid storage tanks, animals, birds, fish, aircraft, wharves, piers, bulkheads, growing crops, shrubbery, land, livestock, roads, machinery, motor vehicles, equipment in the open. Most contents and finishing materials located in a basement or in enclosures below the lowest elevated floor of an elevated building are not covered.
How To Find Out If You Can Buy Flood Insurance
Property owners and renters can see if their community participates in the NFIP by contacting a community official or insurance agent or by visiting http://www.fema.gov/fema/csb.
How to Obtain A Flood Insurance Policy
If your local insurance agent does not sell flood insurance, call the NFIP at 1-888-379-9531 or visit www.floodsmart.gov.
How Much Flood Insurance Coverage Is Available?
The NFIP Flood Insurance Manual provides coverage limits under the Residential Condominium Building Association Policy. Under its regular program, property owners can buy up to $250,000 per single-family dwelling or other residential building and up to $500,000 for a non-residential building. Coverage is available up to $100,000 for residential building contents and up to $500,000 for non-residential contents.
When To Buy Flood Insurance?
There is typically a 30-day waiting period for flood insurance to go into effect. Remember that hurricane season is flood season, so obtain your insurance well ahead of time.
Tips to Remember
1 - Everyone lives in a flood zone.
2 - Most homeowners' policies don't cover flood damage.
3 - No matter what your flood risk is, you can buy flood insurance if your community participates in the NFIP.
4 - Don't wait for federal disaster assistance to help you.
5 - Keep your home compliant with federal regulations.
6 - There's usually a 30-day waiting period before your policy takes effect.
7 - Buy a separate policy to protect your contents.
This article is not intended to be a substitute for FEMA's comprehensive guidelines. For more information, visit FEMA.gov.
by: William Sykes
Under the Vehicle Financial Responsibility Law, all vehicles that are driven on California roads should have liability insurance that provides financial responsibility for any injury or damage that is brought about by a traffic accident regardless of who is at fault.
This passage of the law is also a means for the California government to remove uninsured vehicles from its highways.
California vehicle owners can choose from four types of financial responsibility options which are:
• Car accident insurance policy with liability coverage
• A cash deposit of $35,000 to the Department of Motor Vehicles (DMV)
• A DMV issued self-insurance certificate
• A surety bond for $35,000 from a company licensed to do business in California.
All vehicles on California roads must obtain and maintain any of the above forms of financial responsibility whether the car is parked or operated.
An evidence of financial responsibility should always be in the vehicle at all times.
Acceptable proofs of financial responsibility are:
• A document or identification card from the car accident insurance company
• A DMV authorization letter, if the motorist is self-insured or a cash depositor
• A California Proof of Insurance Certificate
Most motorists choose to obtain car accident insurance policies to fulfill the financial responsibility requirements.
The minimum liability insurance coverage for private passenger vehicles in California is:
• $15,000 for injury or death to one person
• $30,000 for injury or death to more than one person
• $5,000 for property damage
An optional choice is the uninsured motorist coverage, where the policy holder can be compensated by their own insurance company if the liable party has no car accident insurance.
If the motorist chooses to avail of uninsured motorist coverage, he/she is required to purchase an amount equal to at least the minimum liability coverage for bodily injuries.
In addition, if a motorist avails of uninsured motorist coverage, he/she is required to purchase underinsured motorist coverage as well and it should also be at least equal to the minimum liability coverage for bodily injuries.
Driving without car accident insurance or any other forms of financial responsibility can be penalized by the DMV.
Vehicle registrations could be suspended if:
• The DMV is not notified that a car accident insurance policy has been cancelled and a replacement policy has not been submitted after 45 days.
• The car accident insurance information has not been submitted to the DMV within the issuance of a registration card.
• The DMV discovered that the vehicle registration was obtained by giving a false evidence of insurance.
Aside from suspension of registration, a motorist failing to provide proof of financial responsibility may cause a motorist to be punished through:
• Citation with fines that could reach $1,000 or more
• Impounding of vehicle plus fines
• Personal liability for damages if the motorist caused the accident which could lead to a seizure of some personal assets
Uninsured motorists are considered hazards on the road and that is why the government is working hard on cracking down on these irresponsible drivers.
If you were injured in a road accident where the liable party has insufficient or no insurance, consult immediately with a car accident attorney to help with your options.
by: Mark Dacanay
The answer is yes they can save you money, but not as much money as you could save yourself if you were to shop for your car insurance online. Some auto insurance brokers specialize in finding low quotes for their customers and for many years this was the only way to find a great deal on car insurance.
Now consumers have another option; they can shop online for their car insurance and cut out the middle man. Shopping for an auto insurance policy online is the surest way to find the best deal on car insurance.
The reason for this is that when you shop online for vehicle insurance you are able to view quotes from multiple companies. Car insurance is a very competitive industry so the companies will do their best to earn your business. As always competition benefits the consumer.
The car insurance quotes you receive from the competing companies will be estimates based on how you answer certain questions so to get the most accurate quotes it is important to answer the initial questions as completely and accurately as possible.
After you review the quotes and find the one to your liking make sure that it offers you the coverage level that you need before purchasing it. If everything looks good then you will have found the least expensive car insurance for which you are qualified and you should give yourself a pat on the back.
by: David Ackland
Cut Your Auto Insurance Rates With These Discounts
It is a pretty ugly landscape out there from an economic perspective. It has reached the point where you barely want to turn on the news. With saving money being all the rage, you definitely should seek out discounts on your car insurance. Fortunately, most insurers offer multiple opportunities to slice and dice your premiums.Before we talk about discounts, let's make sure we've covered the simplest ways to lower your premiums. The first thing to do is make sure you are only buying the coverage you need. Second, consider raising the amount of your deductible. Both of these moves can make a huge difference in what you pay. Okay, on to the discounts.
Bundling
Most insurance companies write policies in many different areas. The company writing your auto coverage probably also does home insurance and what have you. If you move all your insurance business to one company, they will almost always give you a big discount in the premiums you pay. Make sure to ask for it and be aggressive!
Bundling Cars
Some insurers just stick to auto policies. If your company is one of these, you can still generate a discount by enticing them. How so? Offer to move all your cars over the company. You'd be surprised how often they will consider the situation and cut your rates.
Safe Driving
Make sure to ask for a safe driving discount. If you haven't had any driving accidents, tickets or what have you in the last five years, you should be able to get a discount on your rates. Why? You've proven yourself. Regardless of the statistics the insurance company maintains, you've show that the company isn't risking much giving you a policy.
Security Devices
Car theft has been with us a very long time and it is safe to say that it isn't going away anytime soon. With this in mind, many insurance companies will give you a discount if you go with proactive and reactive security measures. Proactive could be having a security system. Reactive could be having a locater system like Lo Jack that helps police locate your car if it is swiped. Ask your insurer for specific discounts.
Saving money on your car insurance is hugely important. It can make a big difference even if you only save a few bucks. Why? Well, you have to pay for car insurance each and every year. You are going to drive for 40 years or so. If you can cut your insurance by $200 a year, that is $8,000 you'll save over time.
by: Thomas Ajava
Staying on top of your bills is complicated these days. Used to be that all bills came via mail and all you had to do was file them and then, depending on your system, pay them at a certain day each month. All payments were done by check and everything worked fairly reliably. Things were simpler in the past, too, because banks, credit card companies and other assorted entities hadn't started assessing the ever-escalating avalanche of fees and penalties and surcharges we're saddled with today. As a result, there really was no need to check up on the phone and utility bills or get frequent home or auto insurance quotes just to see if what they charged you was fair.
Overall, what's been happening is that some costs have gone up a lot whereas others stayed the same or have even gone down. For example, even though I use my phone hardly more than I did 20 years ago, my cell phone bill is hugely higher than my old phone bills were, thanks to the cell phone companies' skills at charging extra for every little thing. Same for my TV bill. Although I probably watch less TV than in the past, somehow the satellite company managed to make it so that I can only get the few channels I really want by subscribing for packages with about 500 channels I never watch. The utility bills also have an ever-increasing number of surcharges and extra fees and additional taxes, but haven't actually gone up all that much, which is surprising given the rising cost of energy.
Insurance is another area where it's hard to figure out what we're actually paying for. Health insurance costs have escalated obscenely and are now a crushing load for many. Where else can you find an industry that routinely increases premiums by 20 or 30% a year even during a recession? Home insurance is also an issue as most homes have declined in value, but premiums seem higher anyway. Then there's auto insurance, another mandatory expense. If you drive you must have insurance, and so most of us have to deal with that as well.
I must say that personally I have always had good luck in that area. Maybe that's because I have been with the same agent for a long time and they've been very good at giving me the best rates, or maybe it's because of my good driving record, or because they consider me a low risk. I am counting my blessings here because most people aren't that lucky, and a lot of my friends are paying through the nose for car insurance. There really isn't such a thing as cheap car insurance anymore, but you can still get good deals that are fair to all involved.
Unless you're okay with throwing money out the window, doing an auto insurance comparison and get auto insurance quotes about once a year is a good thing to do. There's not even a need to call up a broker for that. Just use one of the auto insurance comparison websites to see where you stand. You may find that you can save a bundle by signing up with someone else, or you may find what you currently pay is fair. Either way, it's good to know where you stand.
by: Chris Robertson
