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Most Common Variables Considered When Calculating Travel Insurance Rates

June 23rd, 2017 Comments off

Travel Insurance is a form of limited or special situation insurance that covers loss arising from a specific event. This could be flying in an airplane or riding in a train. The policies are based on the behavior of a group of individuals engaged in an activity and the likelihood that a loss will occur.

Travel Insurance is rated based on the occurrence of a loss as it affects a group of common interest, such as airline passengers. This differs from individual coverage, which rates the risk of loss occurring based on the personal preferences and habits of the insured. It would be difficult to use individual underwriting standards such as age and health status to travel insurance since not everybody flies in an airplane.

Group insurance factors in the community experience of the group as a whole in order to access the probability that loss will occur. Community experience factors can include the number of air disasters in a given region, or in a given year, or by a given carrier. When assessing loss exposure on a group basis it is easy to discern certain trends and patterns regarding the chance of loss. Since air travel is deemed safe with air disasters occur very infrequently (roughly 1 in 2.5 million), the rates for travel insurance is very low.

If you accept that activities such as air travel are safe with a low probability of occurring, why the need to buy travel insurance? Insurance is about something not happening, as oppose to a loss occurring. Insurance provides a way to restore value in the event of a loss and for some, having the piece of mind that some benefit may be available may be important.

Travel insurance policies are typically issued in kiosks at an airport. It may also appear as a rider associated with a credit card or to a person’s property and casualty indemnity coverage. However it is purchase, the benefit provided is a low amount of coverage, maybe no more than $25,000 (although a few higher death benefit policies exist). This is done based on the community experience-rating factor that looks at the incident of death or dismemberment occurring based on the chance of an airline disaster.

How old you are, how physically fit you may be, whether you smoke or not, are all rating factors or variables that are not important to issuing travel insurance. None of those factors has an impact on a plane taking off and landing and the likelihood that a crash will occur. That the instances of plane crashes are so low suggests that very limited factors need to be considered when pricing travel insurance.

Insurance is based on a concept of risk transfer. This means that the individual pays a premium amount that insures that if something were to happen, the insurance will provide a benefit to compensate the policy’s beneficiary. The amount paid in premium is low relative to the potential benefit that is paid. The insurance company rates the potential for loss and prices its policy accordingly so that it is able to pay if that loss occurs. The higher probability that a loss can occur means a higher premium. Applying group underwriting principles to travel insurance helps provide a product that is low cost and pays a uniform benefit.

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How to Get a Great Deal on Cheap Car Insurance

June 22nd, 2017 Comments off

There are so many different insurance companies out there you can always find cheap car insurance if you look around a bit. You might have to have car insurance if you have a car, but you don’t have to pay through the nose for it. Read on to find out more about what you can do in order to get a lower rate on your insurance.

The first thing you need to do in your quest for cheap car insurance is consider the different factors that determine the cost of your insurance. You need to be sure that you are doing whatever you can in order to keep your rates low, and this includes driving safely and following the traffic laws so you don’t get tickets. Your driving record is one thing that you can control, so you should do so. Your age and gender are other examples of things that insurance companies consider, but these you can’t really do anything about.

Other things that you can ask your insurance agent about when you are trying to find cheap car insurance include the possibility of getting a discounted rate if you switch over any other insurance you might have to the same company. Some insurance companies also reward people for staying with their company for a long time by giving them an additional discount as well.

Insurance Companies Want to Keep their Customers so They Offer Discounts

If you ask your insurance agent what other types of discounts are available that might be able to help you get cheap car insurance, you might be surprised to hear about discounts for things like being married and being a homeowner. There are all sorts of interesting discounts out there to try to help companies keep customers, and it never hurts to ask about what is available.

Ask for Quotes from Many Different Companies

Since there are so many different companies out there and they all offer different types of discounts and different rates for the same insurance, comparison shopping is very important for anyone that wants to get cheap car insurance. This has never been easier since you can go to different websites that give you quotes from multiple companies. With a few clicks of the mouse you can get all the information you need. If you prefer, you can also call different companies and speak to representatives to find out whether there are additional discounts you might qualify that would make the rate even cheaper.

Even if You Have a Great Policy, it Doesn’t Hurt to Ask Around

You might have used the same company forever and know that you already have the best deal they will give you. Don’t get stuck in a rut and stay with them just because you always have, check around and you might be able to find cheap car insurance with a different insurance company that will save you a lot of money over the course of the year. It won’t hurt you to ask other companies how much they would charge, and it could potentially help you out a lot.

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How To Decide What Emergency Locksmith Service To Hire

June 20th, 2017 Comments off

If the worst has happened to you and you cannot get into your own premises then you will be in need of an emergency locksmith to come and let you in.

The decision you have to make however is what type of locksmith you are going to call. There are different types and not all offer all services. Some are experts in opening doors without destroying the lock, these are non-destructive locksmiths.

Expert locksmiths are able to open all styles and types of locks including digital locks. If you are in need of an emergency locksmith, you may wish to hire a non-destructive locksmith as they will be do everything possible to open your doors without destroying your existing locks.

Non destructive specialist locksmiths will attempt to pick the lock using their toolkits and skills. They benefit is that you won’t end up paying more for new locks to be fitted to your door. The cost of the service is very important. Non destructive locksmiths will usually be cheaper to employ than other types of locksmiths. This is because if the lock has to be destroyed, you will have to pay for new locks to be installed. If entry is gained without destroying the lock, you will only have to pay a labour cost. If not, you will have to pay for labour and parts, and of course the labour charge will be increased because the locksmith will have to spend more time fitting the new locks in the door.

This advice is not just for residential properties, the same goes if you are a business looking for a commercial locksmith. Commercial premises have different styles of locks that are harder to open than their residential counterparts. Specialist commercial locksmiths know this and if you are a business owner, you should know that you are getting a specialist commercial locksmith to carry out any emergency door opening or security work on your behalf.

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Building Maintenance ” Protecting Assets

June 19th, 2017 Comments off

Buildings can be a big investment and learning how to look after it at the very start is the key to protecting your valuable asset in the long term. Nothing looks as bad as a poorly maintained building. You’ll be surprised to know that a lot of people let their buildings go far into the deep end before they start any kind of maintenance. By that time, the problems of age has taken over. At this point, full renovations will be required and that can cost much more than what a property maintenance program would have cost in the long run.

Even before you seal the deal on a building your building maintenance program should be in place. A landscaping program, cleaning schedule and annual checkup should be in place along with a budget to along with it. Always factor in the cost of maintenance before going into a building business deal. If you do that you will never have to worry about your building crumbling around you.

And, since you have already factored maintenance costs in, you never have to worry about being short on maintenance dollars. That is where a lot of building owners get trapped. They don’t calculate sufficiently for maintenance when they are budgeting for their building purchase. Then they end up behind the eight ball and the building starts disintegrating.

Building maintenance can involve all sorts of things. One of the more important things is making sure that all of your systems are well taken care of. Probably the most expensive of repairs is the capital and structural repairs. Minor things such as electrical systems and boilers should be checked out on a regular basis and any little problems should be fixed as they happen. . Always fix problems fully and correctly, never just “patch it up”. Keeping one step ahead of problems is the secret to any long lasting building.

Looking after the painting and landscape are also important building maintenance problems. Especially when it comes to buildings looking good. You want to give people a good impression of not only your building but of you as the owner. Whatever needs to be done to keep the structure looking good should be done and if it is done on a regular basis then the workload will be smaller and of course a lower cost than if you let it go for a long period of time. Looking after your property regularly is the secret to maintaining the value of your asset now and into the future.

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What is Chapter 13 Bankruptcy?

June 18th, 2017 Comments off

The chapter of the Bankruptcy Code providing for adjustment of debts of an individual with regular income is known as Chapter 13 bankruptcy. Chapter 13 allows a debtor to keep property and pay debts over time, usually three to five years.

A chapter 13 bankruptcy is also called a wage earner’s plan. It enables individuals with regular income to develop a plan to repay all or part of their debts.

The heart of the Chapter 13 bankruptcy is the Chapter 13 Plan, which the debtor proposes as a way of making payments to creditors over a three to five year period. The period can be as little as 3 years if the debtor’s current monthly income averaged over the last six months is below the state median.

If the debtor’s current monthly income is greater than the applicable state median, the bankruptcy plan generally must be for five years. In no case may a Chapter 13 plan provide for payments over a period longer than five years. During this time the law forbids creditors from starting or continuing collection efforts.

There are many advantages a Chapter 13 has over a Chapter 7 liquidation bankruptcy. One big advantage is that a Chapter 13 allows individuals a chance to save and keep their homes when facing a foreclosure.

By filing a Chapter 13 bankruptcy an individual stops foreclosure proceedings, and can then make payments over the life of the plan that cure past-due delinquent payments. However, the Chapter 13 filer must still make the regular monthly mortgage payments while the Chapter 13 is active.

Another advantage Chapter 13 has over Chapter 7 is that secured debts (other than a home) can be crammed-down or rescheduled and extended over the life of the bankruptcy. This often means substantially lower monthly payments.

Chapter 13 bankruptcy also has a special provision that protects third parties who are liable with the debtor on “consumer debts.” This provision may protect co-signers. Also, chapter 13 acts like a consolidation loan under which the individual makes the plan payments to a chapter 13 trustee who then distributes payments to creditors. Individuals will have no direct contact with creditors while under chapter 13 bankruptcy protection.

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