Posts Tagged ‘home business’
Thursday, August 5th, 2010
Nobody likes the thought that someone may have intruded on the privacy of your home. Coming home to see your house ransacked or precious items missing is probably one of the least pleasant of life’s experiences. While it may be upsetting at the time, it is important to know what to do. There are several important things that you need to remember to do when you discover that your house has been burgled. Also, use common sense and logic in the situation.
Discovering a Burglary
If you come home and suspect that something is amiss, be careful about entering the premises. The intruders could very well still be there and if you discover or disturb them, they could attack and hurt you. Instead, stay out of sight and call the local police station. If you have a neighborhood watch or area security company, call them as well. Then wait in a safe place for the police to arrive. If you notice suspicious people, take down their details in terms of appearance and characteristic markings. Once the police arrive, identify yourself and tell them why you suspect a burglary. They will probably insist that you stay outside while they inspect the premises. Once it has been established that your home has in fact been robbed, you will need to give a statement to the police. Most often, the police will want you to stay out of the home until they can collect fingerprints or other evidence left behind by the thieves. You will also need to phone your insurance company. The person answering the hotline should be able to inform you of the next steps to follow.
Establishing What Has Been Stolen
Sometimes it is difficult to establish exactly what has been stolen. Most times thieves will go for electronic items such as computers, laptops, DVD players, television screens or microwaves. They may also look for jewelry, watches or any other items of value. If you already have an insurance inventory of valuable items, it will be easier to check what has been stolen. If not, the best way is to go from room to room and write down everything that you notice. It is sometimes helpful to do this with a friend or family member as they might remember items that you don’t recall. Take your time to make you list as you might recall some items over time. In general, you have about a week to submit your claim. The insurance company will often send out an assessor to have a look at what is missing and to asses any structural damage to your home.
Taking Steps to Secure Your Home
Sometimes thieves will have gained access to your home by breaking a window or picking a lock. You may need to change the locks on all your external doors or add extra deadbolts. This is something you should do without delay to ensure that your home is made secure once again. Your insurance should cover the costs of changing or replacing locks. They should also cover the cost of window repairs or any other damage to your home. Sometimes you need to pay for these repairs initially but will be able to claim the costs back from the insurance company. Following a burglary, you may want to install additional security measures in your home. These measures may include additional burglar bars on windows, closed-circuit television cameras, and remote access to your garage or property. Sometimes installing these additional security measures will help prevent your insurance premiums from escalating too much following a claim.
Submitting a Claim to Your Insurance Company
Your insurance company will ask you to submit a claim for the items that were stolen and any damage to your property. Next to each item, you will need to give an estimate of the value of the item. Sometimes items that are sentimental do not really have much of a replacement value. An assessor will generally come out to your home to verify details and ensure that the claim you submit is legitimate. Provide as much detail as possible. If you have makes and models of electronic equipment or the serial numbers on file, this will help the insurance company to replace the lost items with similar models. Most times the insurance company will want to replace exact items but when they cannot, they will replace with items that are as similar as possible.
Real Insurance is a part of the Hollard Group of companies. The Hollard Group has offices in the United States, the UK, South Africa, Australia and throughout South East Asia and provides a wide range of insurance products and services to more than 6 million policyholders worldwide. For more information about Real income insurance, visit us online today!
Tags: burglary, family, home business, Home Insurance, home security, Insurance, theft
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Friday, July 30th, 2010
Life insurance can sometime be more complicated than it should be. Brokers boggle you with terminology so you don’t always know exactly what you are getting. There are several different types of life insurance and it is not always easy to know which one is the best policy for you. Many people will not even consider life insurance because they believe myths that have been circulated in the public domain. While there are sometimes elements of truth to some of the myths, most often it is a misunderstanding or misinterpretation of the policy that results in these myths. Here are a few life insurance myths that are commonly believed yet largely untrue.
Suicide Is Not Covered
This is something that is widely believed in the general public. While some life insurance policies may exclude it as a condition, others don’t specifically exclude it. In some states, suicide is only excluded for a period of time after the policy has been taken out. After a specified amount of time, the policy may then come into effect. You do however need to read the terms and conditions of your specific policy very carefully to establish if this is the case.
All Life Insurance Policies Are the Same
There are four definitely different types of life insurance. Each type of insurance has its own benefits and disadavantages. The two major types of life insurance are whole life insurance and term life insurance. There are then also two variations on term life insurance which offer added components to the policies. These are known as variable life insurance and universal life insurance. By definition, whole life insurance covers a person for their entire life. The cash benefit of the life insurance policy is paid out upon death to the beneficiaries listed in the policy. Most times the whole life insurance premium and the death benefit are fixed amounts. This is the more conservative, more expensive and traditional type of life insurance.
Term life insurance is a policy that you purchase for a specific term or period of time. For example, if you have the responsibility of paying for a home mortgage or school tuition fees for your children, you may take out term life insurance to cover that period of time. Premiums are paid into the policy for the duration of the term which is usually a period of 10 or 20 years. At the end of the term, if you are still alive, the policy lapses. Sometimes it can be renewed but usually with penalties. The basic downside is that your beneficiaries do not receive any payout or benefit unless your death occurs while the policy is current. The only purpose of the premiums is to keep the policy active for the duration of the policy term. The two variations on term life insurance are variable life insurance and universal life insurance. In these policies, you can invest a cash portion in different funds or vary the amount of your monthly contributions. Sometimes, you can also withdraw a loan from the policy. The policy you choose will depend on what your life insurance needs are.
You Don’t Need Life Insurance if You Have Other Investments
Often people believe that it is better to invest in property or other similar assets rather than life insurance. The problem with this is until those assets are fully paid for or until your investment reaches a breakeven point, they are actually not assets but merely investments. Most often, term life insurance is used to cover the value of these investments. It means that if you happened to die before the investments become assets, the insurance policy will at least cover their value and your beneficiaries will be left with genuine assets.
Life Insurance Is Only for People with Families
Some people believe that life insurance is only for people that have families or dependents. On the contrary, if you have any assets, debts or forms of investments, you need to find a way of protecting these investments. Single executives may invest in property. They may not have dependents to protect but wouldn’t it make sense to protect your investment? Even if your beneficiaries are your parents, siblings, or a trust fund, you’ll know that whatever money you are putting into your investment will be protected. Life insurance ensures that the value of the investment is covered. Most often, term life insurance is adequate to provide life insurance coverage for the period of your investment.
Real Insurance is a part of the Hollard Group of companies. The Hollard Group has offices in the United States, the UK, South Africa, Australia and throughout South East Asia and provides a wide range of insurance products and services to more than 6 million policyholders worldwide. For more information about Real life coverage, visit us online today!
Tags: business, family, home, home business, Insurance, Life Insurance
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Thursday, July 29th, 2010
Your auto insurance premiums are calculated by a number of different factors relating to your insurance risk. Each one of these factors can individually or collectively determine the premium that you are charged. If you are aware of these factors, you can sometimes do something about changing things so you can benefit from lower premiums.
1. Verifiable Driver Insurance History
One of the first things that an insurance company will look at is your insurance history. How long you have had insurance for? What has your claims record been? Is the car insured under your name? Sometimes, people say that they have been an insured driver for years but the insurance has been under their parents’ or spouse’s name. This does not provide a verifiable insurance history so insurance companies may be weary about providing you with insurance coverage. If you have had several claims in a short space of time, you will be paying a higher premium than someone who has a claim-free record.
2. Age of the Driver
Many insurance companies will not insure drivers under the age of 21 years because they are a much higher risk group. Having just learned to drive, younger drivers generally driver faster, are less aware of other vehicles on the road, and often do not judge distances very well. They may also be very nervous drivers that cause accidents because they drive too slowly or hesitate when pulling out into traffic. The optimal age for getting the best insurance premiums is 35 years of age.
3. Gender of Driver
While there are many jokes about bad female drivers, the road statistics say otherwise. Men are far higher-risk drivers and involved in accidents far more frequently than women. Often, they are also involved in far more serious accidents because they usually are travelling at high speeds. Female drivers can benefit from discounted premiums, and men will only receive lower premiums if they have a good driving track record.
4. Overnight Storage of Vehicle
This factor relates mostly to the theft-risk factor. It varies between different countries and residential areas. In general, more urban areas have a higher risk than rural areas. Insurance companies prefer that a vehicle is parked off the street, behind a locked gate or in a locked garage. Coastal areas also carry higher insurance premiums because of the humidity and salt in the air that causes corrosion to the working parts of a car. A vehicle that is stored in a garage as opposed to being parked outside will require less maintenance and therefore benefit from lower insurance premiums.
5. Mileage and Use of Vehicle If you are a housewife or work from home, you are unlikely to use much mileage and will therefore benefit from lower insurance premiums. If you commute to work every day, your mileage and road usage increases your risk profile. Your premiums will therefore be moderately higher. If you are a sales rep or use your car for work, it is classified as commercial use and will be the most expensive premium because you are a frequent road user.
6. Make and Model of Car
Next to driver history, this is possibly the biggest factor that will affect your insurance premium. There are two aspects of risk that are affected by the make and model. First, the theft risk. If it is a BMW that is thought of as a highly desirable vehicle, it will therefore be considered a high theft risk. The second risk is accident risk. Is it a vehicle capable of high speeds which would put it at a high risk level?
7. Power to Weight Ratio
Some vehicles have powerful engines yet are not viewed as very high risk. This is because they have a low power-to-weight ratio. A sports car or Mini Cooper is an example of a high power-to-weight ratio vehicle that has fast acceleration. This is therefore viewed as a much higher risk.
8. Cost of Replacement Parts
Some cars are very expensive to maintain, especially if they are not manufactured in your home country. The cost of replacement parts is a big factor in determining your insurance premiums. If parts have to be imported in the event of a claim, this will increase your insurance premiums.
9. Actual Value of Vehicle and Age of Vehicle
A luxury vehicle will naturally carry a more expensive premium than a standard vehicle. However, a vintage or classic vehicle may have a high value but because it is used less frequently, it will have a much lower insurance premium.
10. Vehicle Security Systems
Most modern vehicles have factory-fitted security systems. Some use immobilizers and alarms systems as standard features. If it is a desirable and high-theft risk vehicle then insurance companies may insist on having additional security systems such as vehicle tracking installed in the vehicle.
11. Credit History of Insured Person
This is not always an important factor but it can affect your insurance premiums. If you have a long and detailed poor credit history, you are generally considered to be more of a risk and will have to pay higher premiums.
Real Insurance is a part of the Hollard Group of companies. The Hollard Group has offices in the United States, the UK, South Africa, Australia and throughout South East Asia and provides a wide range of insurance products and services to more than 6 million policyholders worldwide. For more information about Real Insurance, visit us online today!
Tags: auto, Auto Insurance, business, Car Insurance, home, home business, Insurance
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Wednesday, July 28th, 2010
When you first look into life insurance, the different terms and type of life insurance may seem quite confusing. It can be difficult to understand what type of life insurance is best suited to your needs without knowing specifics about each type of policy. It is also helpful to establish exactly what you need in a life insurance policy.
Why Take out Life Insurance
Most often people who take out life insurance do so because they have family dependents or financial responsibilities that are reliant on their ability to be alive and able to work. For example, parents would want to provide for their children and ensure they are financially secure. A married person may want their spouse to be taken care of should anything happen to them. Life insurance makes sure that your financial responsibilities are met. Even if you don’t have a family, you may have a 200year mortgage and a life insurance policy will make sure that the mortgage is met no matter what happens to you. In a similar way, directors of a business may take out life insurance to ensure the continuity in the company in the event of their death. Take a look at your life and your financial responsibilities as this will help you select the right policy for you.
What Is Whole Life Insurance?
Whole life insurance is as the name implies. The insurance coverage is for your whole life until the time of your death. It is generally considered to be the most conservative type of life insurance policy. The reason for this is that it offers more guarantees and is easy to understand and manage. A whole life policy generally has a premium that is set for the full period of your life. The interest rate that you earn on it also a guaranteed interest rate. In the event of your death, the funds from the policy are then paid out to your beneficiaries as a death benefit or cash value, depending on the terms of the policy. Whole life insurance is typically the most expensive type of insurance policy and for this reason many people look at alternatives.
When Would You Consider Taking out Term Life Insurance?
Term life insurance is taken out for a set period of time. This period of time is referred to as a term. It could be for 10, 20 or 30 years, depending on what your insurance needs are. One of the main reasons that people consider term insurance is that it is a more affordable form of life insurance. It typically offers a death benefit settlement for the duration of the policy. This is the ideal solution if you have a mortgage or financial responsibilities for a set period of time. The way it works is that you decide on the term and value of the policy. Then, for the duration of the policy, you pay a premium. When the term is up — in other words, at the end of 10, 20 or 30 years — the policy lapses and the death benefit expires. Sometimes term policies can be renewed but these renewals are generally quite expensive. Sometimes older people who do not expect to live for more than 20 or 30 more years might consider taking out a term policy instead of a whole life policy as it is a more affordable option.
The Downsides of Whole Life or Term Life Insurance
The main disadvantage of whole life insurance is that it is very expensive. Often people feel they would rather be investing that money into property or other assets or policies. In addition, the interest rates offered on whole life insurance are generally not that favorable. This is because they are guaranteed for the period of the policy. For term life insurance, the main disadvantage is that if you do not die before the policy lapses, you basically lose out on all the money that was paid into the policy. For most people, this hardly seems like a good investment. For this reason, two additional variations of term life insurance were created.
Benefits of Universal Life Insurance
Universal life insurance is a type of term life policy. It is different than a standard term life insurance policy in that universal life insurance has an added benefit of a cash value component. This cash value component allows for greater flexibility in terms of the insurance policy. This flexibility comes in the format that you can choose to reduce or increase the insurance premium payments during the lifespan of the policy. Another benefit is that some policies allow you to withdraw cash loans from the money invested in the policy. A third benefit is that you generally get much better interest rates on universal life insurance policies. Your beneficiaries would therefore receive a better return on the money that you have invested in the policy.
An Alternative with Variable Life Insurance
Variable life insurance is quite similar to universal life insurance but has one primary difference. This difference is that variable life insurance allows you to invest a cash value portion of the policy in different funds. If the markets are doing well, you can substantially increase the cash value of your policy. Unfortunately, if the market falls, you can also lose out on the value of your investment.
Real Insurance is a part of the Hollard Group of companies. The Hollard Group has offices in the United States, the UK, South Africa, Australia and throughout South East Asia and provides a wide range of insurance products and services to more than 6 million policyholders worldwide. For more information about Real Funeral Insurance, visit us online today!
Tags: business, family, funeral life insurance, home, home business, Insurance
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