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Insurance Broker for Business

It is always important to understand the rules of the insurance policy in order to get the best out of it. If you are insuring something simple, like a car, then you can buy a policy on your own. But if you are insuring important things like house, property, or business then you should take the help of insurance brokers. They will offer you proper guidance about liability and UM or UIM limits.

But before choosing a broker you should know a little about the brokers. There are several types of brokers or agents. One type is the “captive brokers”. The captive brokers offer insurance policies of only one type of company. The other kind is the “independent brokers” who offer insurances of more than one company.

The policies that you buy from these brokers include 7-15% commission of the broker. So, when you buy a policy from a broker you will land up paying a commission and a fee.

Insurance is a market where comparing all the available policies is important before shopping. It is always better if to take the advice of experienced

Child Insurance

Child insurance plans carry dual benefit for the child. First, they help generate a good corpus by investing the premiums in a fund that can either be endowment based or ULIP based. Second, they provide a life cover to the investing parent of which the child is the beneficiary. In case of the death of the policyholder, the insurance company waives off the future premiums and continues to invest in that fund on the policyholder’s behalf. Moreover, it pays a lump sum or period amount for the maintenance of the child. Thus, these plans protect the interest of the child even when you are not with him/her.

Saving money on our own can be difficult as we cannot be that much disciplined unless we enter into a plan which necessitates us to deposit a particular amount or else it would lapse. Such routine is mandatory for systematic saving and investment. The returns from other funds or investments can get spent on other things. That is why it would be better if you have a dedicated child plan in

Auto Insurance Deductible


There are several ways you can accomplish this goal. Each method takes some planning and discipline, but each can be achieved by anyone looking for a low deductible and a low premium.

First, you can choose to insure with a company which offers a “vanishing deductible” program. According to these programs, your deductible decreases by a set amount each year that you are accident-free and claim-free. Some of these programs allow you to lower all of your deductibles, and some only allow you to lower your collision or liability deductible. Different companies offer different amounts for the deduction and at different rates. You can compare programs to find one that works well for you.

Another option is to create a plan in which you gradually save the amount of your deductible while slowly raising your deductible each six months. Here is how this would work: suppose that your current deductible is $250, the lowest your company allows. Now suppose that you would save $100 per renewal period by raising your deductible to $500. If you do

Should You Downgrade Your Auto Insurance to Save Money

When you are face with a tied budget that seems to be getting tighter, it might be time to cut some additional expenses in order to reduce the squeeze. If you already cut out the luxuries such as coffee in the morning and eating out then it might be time to look at that full coverage that you have on your car. How do you know if it will be alright to downgrade your auto insurance? According to an article, the majority of the states require that you at least carry liability insurance. With a minimum of liability insurance, any damage done to others property and people will be covered. Each level of insurance has a deductible which is the part of the bill you are responsible before the insurance will kick in. The premium is the bill you are responsible for each month or quarterly in order to pay your insurance to maintain your coverage. If you currently carry full coverage and are looking to drop to collision only you should probably take a few items into consideration. Some of the factors you need to look into before dropping your full coverage include: Do you

Captive Insurance

  1. Captive Insurance: there are several types of meaning been given to this term by its father names as Frederic M. Reiss, who started this service basically for captive mines but further when he outgrew his company he started providing this insurance policy to other industries as well but with similar term. His first client was the Youngstown Sheet in 1950s, this company dealt with mines that were solely used for corporations use only as Captive Mines.
  2. Origin or domicile: Captives have been given license by many jurisdictions these days including Bermuda which is world’s leading captive abode due many advantages related to it, The Bahamas, Dubai, Ireland etc. are further added in this list, though basically offshore financial centers are given priorities mainly.
  3. Business capacities: Captive Insurance was introduced to provide large corporations and industries benefits of insurance they required but in association with mainstream insurance markets, it could not reach its full growth. So it had to and was pushed to reduce its cost. Captive insurances had its limited market and areas covered by it.
  4. Rules and Regulations: It has its own set of regulations and restrictions that must be followed by Captive as

Analyze Personal Insurance Risks

Overwhelmingly, the answer to that question is NO! In personal lines, we are typically starting the analysis by determining if a risk is “preferred” or “standard/non-standard.” Here are the characteristics of a “preferred” risk:

– Positive physical attributes of property to be insured. Homes need to be well-maintained and depending upon the year built, updating of plumbing, roof (except some tile and slate), wiring and HVAC systems must be done in the past 30-35 years. Autos need to also be well-maintained and free of any damage. Pride of ownership is evident.

– Loss history is clear. A preferred risk has no losses in the past 5 years. A water loss or liability loss may indicate an exposure that may have a higher probability of having another loss. For property exposures, losses follow the insured. If you have an insured that owns multiple properties and the home is loss free but the rentals have losses; those losses will be taken into consideration on the home when determining the eligibility of the risk. This is especially true if the carrier will not be insuring the rental properties. You need to understand those losses even if you are currently

Ways To Get Insured

Another great advantage of using the internet is that you can get a quote in a matter of minutes. Instead of lengthy phone calls and long interviews, you can simply input your data into a short form and you’ll get an accurate quote back immediately. Most decent insurance companies offer this capability these days, and you’d be surprised how accurate the quotes can be. Of course, if you have some exceptional circumstances or there is important information that the form doesn’t cover, the quote won’t be as accurate as possible, but it will certainly give you a fairly good indication of what you could end up paying. With such a quick way of getting a quote, you can easily rule out any insurance companies which you can see are instantly far too expensive (or even far too cheap). You can do this easily, and without the insurance company hassling you like they might do if you were talking to them on the phone or in person. You can then simply move on to the next insurance company if you weren’t happy with the quote, or start the process if you were.

Once you’ve found and chosen the

Motor Trade Insurance Cost Down

The first thing to consider is the type of business you run. Do you work on vehicles or do you offer a restoration service? If you do either, do you work on high performance vehicles? The higher the performance of the vehicles you have on your property, the higher your premium will be.

It’s essential when taking out any motor trade insurance, that you check to see if there are any vehicles eliminated from the list of vehicles safe to drive. Driving a customer’s high performance vehicle when you don’t have adequate cover to do so, can cause serious financial problems should you be involved in an accident.

Where is your building located? This is another very important consideration. In many cases being located in a city or town can increase the premium. This also depends on area, areas are listed according to crime rate and other statistics, things you have no control over. Where you can make a difference is to put security measures in place, such as alarm systems, strong roller doors and even bars on the windows, reducing the risk of a break in and reducing your risk to the insurer.


Auto Insurance as Cost Effective

Car Insurance Policy

Before measuring the lengths and breadths of driving at different terrains and highways on your dream car, do you know that you have to fulfill pre-requisites, without which you cannot bring your car on the road? And the main two requirements are: (a) Buying policy of the car is mandatory; and (b) Also mandatory is third-party insurance. So the moment you have the desire to purchase a car, just first think of buying a full comprehensive car policy along with a third-party cover.

The full comprehensive cover for car will make you worriless from all accounts of harm to your car – theft, loss, burn, man-made and natural calamities, accidental damages and so on and so forth. Whereas physical injuries to self and third party will be sufficiently taken care of by the insurer, the third-party liability being wholly and solely of the insurer, even liability of death of the third-party will be compensated by the insurance company. Mind you, the compensation towards death of the third-party can go to as much as tens of lakhs of rupees, depending upon the third-party’s age, status, dependents etc. The only precaution on your part has

Info of Health and Medical Insurance

here are different types of health covers like private, family, business and group health insurance policies. The one that you buy depends on your requirements and one good way of analysing these requirements is to consult the brokers that operate throughout the country. Otherwise also buying health insurance can be somewhat confusing with the largest number of companies out there each trying to claim that it is the best. In this situation, a reliable insurance broker will be able to guide you as to which company and which policy will be the best suited for you. Another thing that you need to keep in mind while opting for an insurance policy is that it should be customized for you. This is possible when you consult an independent insurance broker as they are associated with a large number of insurance companies. They will definitely be able to find a tailor made policy that will suit your requirements perfectly.

Not only will you save a lot of time while dealing with the brokers, but also a significant amount of money, as well. If you try to look for an insurance company by yourself, it means endless hours spent on

Must know about Life Insurance

Life insurance as part of an overall financial portfolio is rife with mythology and misinformation. In this article, I will address some of the myths that continue to circulate and provide useful information to help consumers make some rational decisions on the purchase of this important personal asset.

The second issue deals with taxes: the “invest the difference” part of the equation will almost invariably have tax consequences: unrealized capital gains and dividends for non-retirement investment accounts will result in a tax bill. What that means is that, as the fund manager buys and sells stocks for the portfolio, the capital gains on those transactions result in a tax liability. Similarly, dividends that are reinvested are also taxable. In both cases, you will be getting IRS Form 1099s in the mail around January of each year, which will show the gains and dividends and must be accounted for at tax time. In both cases, you will have no money in your pocket but you will have more in taxes to pay. This effectively lowers your rate of return.

Whole life insurance products don’t have either tax problem: the dividends grow tax-free and the cash value can

Contents Insurance Claims

Flying sheep

With a dented car bonnet, the initial impression of the car was that it had been in an accident, maybe an argument with a tree. However the accompanying insurance form stated “flying sheep” as the cause of the damage. While driving over a bridge, a lorry heading for a local farm with a cargo full of sheep, had overturned on the road. In the ensuing panic, the frightened sheep had jumped over the railings and fallen onto the bonnet of a car driving beneath.

Verdict – Paid

The room of bears

While it’s generally considered environmentally friendly to recycle and reuse as much as possible, some people can take this dolphin friendly attitude to the extreme. Hoarders find it difficult to throw anything away, collecting a vast array of furniture and nick-knacks that make moving around the home rather problematic. The inconvenience of navigating from the lounge to the bathroom is somewhat compensated by being able to claim for a bedroom full of teddy bears estimated to be worth over £10,000 when unfortunate events fall upon your home.

Verdict – Paid

Back garden wedding

When a daughters wedding reception

High Risk Driver Insurance

There are many companies providing cheap auto insurance policies for vehicles. Depending upon your requirements and the budget you can select a cheap commercial policy for your car. There are many different cheap Toronto plans that can be selected depending upon your requirements be it an insurance policy for your home or your car or even a life insurance policy. Nowadays, availing a high risk driver insurance policy has become much easier since the introduction of the online procedure as it has helped to reduce the attached paper work. One need not make multiple trips to the insurance company to complete the formalities as these can be done very easily while comfortably sitting in your home.

In order to geta cheap insurance Toronto you need to have a valid driver’s license if not a driver’s license you must has received some training from a good driving school. After considering these parameters the insurance companies would offer you different policies. While looking for an policy ensures that the company you approach offers a cheap auto insurance policy that fits comfortably in your budget. Also if they provide an online option for completing the formalities along with a 24/7

Bizarre Insurance Claims

Double trouble

Mr. Di Puma Delaware burnt down his own house and his convertible in order to claim from his homeowners and car insurance. He told his insurance company that the whole ordeal started when the pots on his gas stove caught fire while he was preparing his dinner. Next, buckets full of coals also caught alight. In an attempt to stop the fire, he threw some of the buckets out of the window and they landed…. you guessed it: inside his convertible. While in the process of tossing another bucket out, he somehow managed to trip over something and the bucket landed on his couch. Of course this story was a little bit too far fetched, even for the most gullible person.


Mr. Di Puma was convicted of attempted insurance fraud, got five years probation and… drum roll… the insurance didn’t pay him once cent.

Backside of the cow

A live stock farmer from the UK, Ivor Bennett, told his insurance company that he had lost his cell phone inside the rear end of one of his cows. It was a dark and stormy night and he had been trying to

Hire an Insurance Agent

Research the local insurance agents in your area and meet with them to discuss your specific policy needs. There may be things you never considered insuring, because you didn’t know that you could. This is why meeting with a professional is the best step you can take for protecting your future. In addition to meeting with a professional sales policy person, you should also appraise the valuables that you think you want covered under your policy.

If you can give your agent an accurate estimate of what your things are worth, you can better formulate your policy. This can also save you some stress later on if something happens and your policy must go into effect. In this event, having already calculated the cost of your valuables will give you specific up-front appraisals. Getting accurate value estimates after something has been stolen or damaged, hardly ever works out in your favor.

If you are an elite athlete, you should also consider taking out a policy on your health or future playing capabilities. Let’s say you are a star collegiate running back with a great chance to play professional ball, but in your final amateur season you

Buying Health Insurance Policy

However, there are few things which can help to avoid making these mistakes while buying a health insurance policy.

  • Relying only on the group insurance provided by the employer

Many a times, professionals do notbuya separate health insurance policy as they are already covered under the corporate plan. But despite of being covered by a group insurance policy, there can be a time lag in between job switch or unwarranted situations like unemployment wherein he and his family can be uninsured.

  • Insuring your health too late

Buying a health insurance plan at an early age has its own sets of benefits. In the early ages, you will be less prone to diseases and there will be no pre-existing medical ailments, which will result in lower premiums. Availing a policy late in life might require medical check-ups and also, a rise in premium.

  • Co-payments and Deductibles

In co-payment, the policy holder accepts to pay a fixed percentage of the hospital bill from his pockets. In return, the insurance service provider takes lesser premium. Co-payment can be a compulsory clause in the senior citizen health insurance plan.

Deductibles are like co-payments, the only

Information of Insurance Career

  • Recession proof– Even in a “down economy”, the requirements for insurance do not go away making the industry somewhat recession proof even when other businesses are distressed.
  • Accommodates a wide range of skills– Are you detail oriented and love finding solutions for challenges? Maybe you are into Math, statistics, accounting or computers? You may find helping people, customer service or relationship building more your thing? Almost every professional skill set has a corresponding possible insurance career.
  • Many carriers provide training– Depending on the type of position you are interested in, you can take classes to get the knowledge you need or many carriers provide great training. Colleges offering “Insurance Degrees” are few and far between but having any BA degree basically means you have the persistence to accomplish a goal making you “trainable.”
  • Risk is always changing– The ever developing world is moving so fast that exposures that need protection are also constantly changing. You can never get bored if you make an effort to keep learning new skills and change with the times.
  • Corporate America vs. small business– If you want the security or prestige associated with working for a large

Insurance Agency Email Marketing

A web beacon is usually a transparent graphic image, often just a pixel that is placed unobtrusively in an email. When the HTML code for the web beacon points to a website to retrieve the image, it can also pass along important marketing information. This information can include the IP address, a time stamp, length of time the beacon was viewed, and the type of browser that retrieved the email. For many insurance agency email marketers, the most important metrics relate to the open rate, and the subsequent clicks that occurred in the email.

Web beacon options are included with most email marketing solutions, from the basic solutions to high end integrated platforms. When you send out insurance agency email marketing campaigns, the marketing engine will offer an option to track the emails. If selected, a tiny web beacon will be placed on the bottom of your HTML email to detect opens. Note that I said these would be on the bottom of HTML emails. If you are using text emails or multipart mime (the text portion of that email) the web beacon will not be used. This beacon is unique to each insurance email campaign that

Insurance Fraud

1. Underwriting Prudence

Claims and Fraud management begin much before the Claim incident is reported. There are several indicators that can raise suspicion during the underwriting process. After the Claims are settled, the Claims data can positively impact the underwriting and rating functions. There is a need to incorporate more information into the underwriting decision-making process. The responsible use of data and information during the underwriting analysis is one of the most powerful weapons against Fraud.

The organization should know its prospective customers well to find fraudulent intentions beginning the review of sales proposal. An attempt should be made to dig deeper to verify identity and every application must be individually scrutinized. The goal of reducing Claim leakages should be kept in mind from the very beginning and the Fraud fighting mechanism should be activated from that moment.

2. FNOL Management

From a Fraud perspective, effective management of First Notice of Loss (FNOL) process is crucial for the insurance company. Through improved workflow, streamlining the processes and use of automation, insurers can identify the Fraud triggers and recovery possibilities early in the Claims cycle. The insurers should make use of early warning systems like,

All about Insurance Claim

When filing an insurance claim you will file it with a local agent that works for the company and they have the responsibility to instigate the specific details of the claim. Then the agent negotiates the payment from the main insurance company. Many times a recognized authority such as a repair shop, building contractor, or medical professional can file the necessary forms with the insurance company directly. If another party has agreed to pay for their mistake out-of-pocket or the damage is minor, the policyholder may not want to file an insurance claim.

Once an insurance claim is filed the insurance company usually has an appraiser or adjustor without bias evaluate the damage and determine if the estimates for repair the policy holder got are realistic. This can help prevent fraud by companies who inflate their estimates so they can get additional compensation. Most insurance companies will accept the appraiser or adjustor’s valuation as the last word. There are some insurance claims may not be paid for many reasons. Some of these reasons can include:

• The claimant’s premiums have not been paid each month and they are behind
• Policy may be inactive
• Another