Choosing an Insurance Policy

Here are some things to consider when choosing an insurance policy for you:

  1. Know your budget to have an insurance.
    Even with USD60 per month you could already have insurance policy including your fixed deposit.
  2. Know the insurance protection that you want.
    Are you at risk to involve in an accident at your workplace or at the road? Are you exposed to critical diseases because of your lifestyle and your imbalance diet?
  3. Know the amount of insurance protection that you want.
    Is your goal is to get high return of benefits after the first 3 years due time, high return of benefits on your retirement day soon or your protection when you retires early or your mandatory retirement and most importantly your hospitalization cost protection?
  4. Know who you should protect.
    Who do you love the most? Youself? Your kids? Or your family?

Contact insurance companies to know what fits you the best.

14-02-2010 by Sorli

category: Insurance Basic

5 Things Women Should Know About Their Car

There are at least five (5) general things that women should know and check on their vehicles, before driving and before a problem arrived.

To women, “car matters” are not interesting things especially because their reason is certainly they are uncomfortable to taint their hands, and the bigger reason is lack of knowledge of car maintenance. All are handed over to the men although some of the things are also not known by men.

So what are the five things? Here they are:

1. Fuel (Petrol / Diesel / NGV)A fuel nozzle.

This is the basic point, needless to think. Even those people who do not own a car knew that fuel must be filled for the car to move. But believe me; I know lots of women who never filled the oil into their own tank and even do not know how. My own friend’s wife, according to him, for more than 10 years, he filled the oil full into his wife’s car tank one day before working day started for her use and one week of work. That what happens every week.

Many private vehicles in my country (Malaysia) use petrol but there are also that use diesel and NGV. Make sure of the right fuel. And make sure that you identify the right fuel pump machine at service station.

Remember, it is important that you know how to open the tank cover and pump the oil into it. May be your one day you are forced to pour oil by your own. Don’t let your car runs out of gas in the middle of the street.

2. Water in Radiator Tank

Opened hood of a car, showing the radiator of the car.Open your car hood. Usually hoist switch (hood opener) is under the dashboard on the driver side.

Check before car is started, if not you will scald your hand. Make sure there is enough water. Otherwise, just add tap water.

If you often send car for services, radiator water checking is a basic thing that must be done. Nevertheless, you also have to know to check it on your own; in case there is leakage which caused the water level in radiator to be inadequate. So it is good to check the radiator water at least once a week.

3. Engine Oil, Transmission Oil and Brake Oil

Checking an engine oil level of a car.These are vital. Without enough engine oil, engine may become hot and this will damage the engine. Not enough transmission oil may result an immovable car and not enough brake oil may endanger your life because the vehicle cannot be stopped.

For a quite aged car, make sure you check with more often. Even though you may have sent the vehicle for services in each 3 month or each 5,000 km, do not wait up to you new service time and hope the mechanic to check. At least you must know either its oil is enough or not. Engine oil, transmission oil or brake oil that runs out or ebb quite suddenly may signify there are leaks. This are reasons that such examinations are important, and this would be vital for your own safety.

4. Tyre

A car tyre.You know how to change a tyre? Even though you may not need to change a tyre on your own because you have a car service card or you have a husband who will always helps you or friends who could help, it is good if you yourself know how to change a tyre.

Also make sure the right tyre pressure for your car tyres. Learn how to check tyre pressure and how to pump tyre when necessary.

Knowing basic matters on car as such can make a woman feels more confident and safer when driving.

5. Insurance and Road Tax

Cars on road.Before setting forth for your destination make sure your car insurance and your road tax still valid and legal. Look on your windscreen, does your road is tax still not yet ended? In case it already almost to expire; you can start your insurance renewal and your road tax renewal process. Road tax is renewable as early as two month before its expiry date.

Insurance and road tax are compulsory to enable a vehicle is validly used on road. The matter is only done once a year. Some peoples took leave solely to manage road tax and insurance renewal. Get new insurance from the insurance company, and then go to bank to pay road tax and in the evening go again to bank to collect back the road tax which has been completed.

Now everything you can hand on to insurance company on their website to deal. It is really easy, insurance and road tax can be done at once. Usually within only two working days, road tax already arrived to hand, either in office or at home. No need trouble yourself anymore.

29-03-2009 by Sorli

category: Auto Things

Tips: Why Should I Own An Insurance Policy?

Here are some reasons why that you should own insurance:

  • As a preparation if struck by a disaster, we do not know when an accident will occur.
  • Having insurance while still young and healthy can give higher returns when the insurance has matured.
  • As a future savings for a source after pensioning.
  • Increasingly higher cost for learning. For example, my child should possess insurance to ease our burden later.
  • As an inheritance to my child and heir if I died as a consequence of a disaster.
  • Health insurance is needed to accommodate the medical cost and treatment if I am hospitalized.

A lot of benefits when owning insurance. It is not a gamble of life but as a preparation to face the uncertainty.

13-02-2009 by Sorli

category: Tips

Auto Insurance: Understanding Car Insurance

Understanding car insurance.
Unexpected losses. Future disasters. Insurance can protect against all these eventualities which are potential money draining experiences.

In the case of being an owner of a vehicle, shop around for a good policy and a good tip is to purchase more coverage than required to cover for a variety problems. Some examples of policies include:

Liability

This coverage pays for accidental bodily injury and property damages to others. Injury damages include medical expenses, pain and suffering and lost wages. Property damage includes damaged property and automobiles.

This coverage also pays defense and court costs. The law determines how much liability coverage you must purchase, but you can always get more coverage than required.

Collision

This coverage pays for damages to your vehicle caused by collision with another vehicle or object.

Comprehensive

This coverage pays for loss or damage to the insured vehicle that doesn’t occur in an auto accident. The types of damages comprehensive insurance covers include loss caused by fire, wind, hail, flood, vandalism or theft.

Medical Coverage

Pays medical expenses regardless of fault when the expenses are caused by an auto accident.

PIP

Personal Injury Protection (PIP) pays medical expenses for the insured driver, regardless of fault, for treatment due to an auto accident.

Uninsured Motorist

Pays your car’s damages when an auto accident is caused by a driver who doesn’t have liability insurance.

Underinsured Motorist

Pays your car’s damages when an auto accident is caused by someone who has insufficient liability insurance.

Rental Reimbursement

This type of coverage will pay for a rental car if your car is damaged due to an auto accident. Often this coverage has a daily allowance for a rental car.

Factors That Affect the Pricing of the Auto Insurance

Now that you know more about the various policies available, it’s also essential to know what type of factors affect the pricing of the auto insurance such as:

Drive ‘Safe’ Car

The first thing that affects your policy price would be what kind of car you drive. For instance, a sports car will definitely be more expensive to insure compared to a family car. Also, if your car is a popular target with thieves, chances are that your coverage will be more expensive.

Neighborhood and Mileage Counts

Another factor is where you reside. If you reside in an area which is crime ridden, your policy will be a more expensive one. Drivers who clock up long distance in driving will also pay more than those who live nearby their work places.

Depends on Your Profile

The final factor is that the price depends on yourself. Your age, your gender, marital status and driving records are all taken into account for. Accident rates are higher for drivers under the age of 25 years old, so if you are young, expect to pay a wee bit more.

With that in mind, have fun researching on various policy packages offered by insurance packages to find out the policy that suits your profile!

07-02-2009 by Sorli

category: Auto Insurance

Tips How to Get Cheap Auto Insurance Quote

Here are some useful tips on getting cheap auto insurance quote. These tips are from Brian, a former insurance agent and financial consultant. He gives some tips on how to get cheap auto insurance quote:

Examine Your Auto Insurance Policy – A few changes in the auto insurance coverage can save hundreds of dollars in the insurance premium.

Increase The Insurance Deductible – Deductible is the amount of money have to be paid before an insurance company pays a claim. Raising it can save hundreds of dollars per year of the car insurance.

Install a Security System – Most insurance companies will give discount if security system is installed to the car.

Decrease Your Mileage – The auto insurance that have to be paid is directly proportional to the number of miles you drive. So cut down your mileage, try car pooling or walking sometime.

Shop Online for Cheap Auto Insurance – Try to compare them online.

06-02-2009 by Sorli

category: Auto Insurance, Tips

Secret That The Insurance Company Don't Want You To Know

People with lawyers get bigger auto insurance settlement when they involved in an auto accidents. Want to know why? Watch the ads video below.


Adjusters want to settle cheap, quick settlements are not always best, a computer may decide your compensation, and people with lawyers get bigger settlements.

09-01-2009 by Sorli

category: Auto Insurance

Auto Insurance Proposal and Cover Note

A proposal form is an application form to be filled in by you, if you are buying insurance from an Insurance Company for the first time. It will generally ask for your information on the vehicles and to be insured, including their values, your personal data and also details of your insurance history, etc.

Cars in traffic jam.The insurance company base their decision on whether to accept or reject your proposal and what terms to impose on the information you provide in the Proposal Form.

As the information given is crucial to your Insurers, you have a Duty of Disclosure to provide all facts material to the insurance. Please read the “Important Notice” appearing on the Proposal Form.

You are required to sign a declaration that the information that you provide is the truth and that it shall form the basis of the contract.

What Should You Do When Filling an Auto Insurance Proposal Form?

When filling an Auto Insurance Proposal Form, you must state all facts material that you know. These facts material will affect insurance company whether they will receive or reject your proposal or charge you additional fee. In Life Insurance, facts on your health and occupation are facts material.

What happens if insurance agent makes mistakes or fills untrue information?

Even if the matter occurred not caused by your mistake, Insurance Company may refuse the contract. Due to this, you should always read what is written or fill meticulously before signing the auto insurance proposal form.

What is a Cover Note?

After you pay premium, an agent will issue a cover note as a temporary protection before the insurance company decide whether to cancel or receive proposal you. It will expire after that note ending date or when your proposal is rejected or when a policy is issued by the insurance company.

Make sure you get one cover note copy with complete information of everything on auto insurance coverage such as sum insured, premium, excess and protection period after paying the premium to an insurance agent.

Contact your insurance company if you do not receive your insurance policy after 30 day.

What should you do when considering buying a policy?

1. Always read and understand the policy terms and proviso.

2. Do not buy an insurance policy only because the push from insurance agent. Do only when you know the policy and if you need it. However, under law, you must own an auto insurance.

3. When you have your policy you must always pay the premium payments specified.

4. If you take too many policies, the insurance company probably will doubt it and they may cancel your policy.

What should you do if you involved in an accident

Make a report to police in 24 hours time on the accident.

Notify your insurance company in writing as soon as possible all the details about damages or losses which occurred by including the police report. The reasonable time period to report to the insurers is within 14 days. However, for cases which involves limb injury; where a policy holder is hospitalized due to accident, they should report to insurance company once being able to do so. If there is any case, other party charge you and you accept a summons to court, do not plead guilty but notify the matter to your insurance company. If you do not do so, the insurance company may never be responsible in defending your interest when there are claims on you or claims for the damages of others vehicle.

Final question on yourself

Do you own an auto insurance policy or life insurance policy? Have you read the terms and conditions of the policy? Do you know that you are tied down to various terms and conditions?

by Sorli

category: Auto Insurance

Types of Insurance: Auto Insurance

Auto insurance coverage is an obligation for all vehicles used at road. It is to ensure that drivers are protected against liabilities which should an incident occur. A usual type of auto insurance are the Third Party Policy and Comprehensive Policy. Other protection can be obtained with accordance to the policy holder choice.

What are a Third Party Policy and a Comprehensive Policy?

A Proton Perdana V6 car.

Third Party Policy – if you drive a car and hit a car that belongs to B, under the third party insurance, your insurance company only will be responsible to pay compensation on injury, death of driver B or B car passenger and also to B’s car only.

Comprehensive Policy – If the same thing happens and you hold a comprehensive insurance policy, you are being protected from liability that exist as result of death or limb injury of the driver or passengers and car of B and also damages which occurred on your car. The insurance company will also pay compensation to you if your car is lost, stolen or destroyed due to fire.

08-01-2009 by Sorli

category: Auto Insurance, Insurance Basic

What is Insurance Exactly

What is insurance exactly?

Insurance is risk transfer of one individual like you, or an organization, such as your company, to the insurers. You or your company shall be known as policy holder. Insurance company will receive payments from you in form of premium and if you experience any loss or damage, the insurance company would pay compensation to you.

What is an insurance.

Insurance basic principle

For example, policy holder (you) must have legal interest on the goods or life that you insure. This mean, you would bear the financial loss in case damage or loss happened to life or property that you insured.

You do not need to purchase more than one policy or plan to protect your property. If you own more than one policy, you can only make one claim if any loss or damage happens. The payment amount that can be paid will be contributed by the involved insurance company. As such, you cannot make profit from general insurance policy or plan. If you experience loss, insurance company would pay appropriate compensation or you will be put at same state before loss happen. However, you can buy more than one policy to protect your life.

Contract of insurance is on full principle of absolute trust. As such, you as policy holder or plan must disclose all necessary important information. If you fail to reveal that information, your policy or plan may not be valid and you will not be protected on any loss or damage.

Buying Insurance Policy and Essential Guide When Buying Insurance Policy

You can buy insurance policy at:

  • Directly from the insurance company
  • Through registered agent or licensed brokers
  • Via banking institutions which possess bancassurance arrangement with insurance company
  • Through the internet

Essential guide when buying insurance policy:

  1. Understands your insurance policy including product features, conditions, benefit and its exemption limit.
  2. Ensure that insurance premium which will be paid is reasonable.
  3. Ensure the protection amount is enough and suitable your necessity.
  4. Ensure all important facts are fully disclosed.
  5. Deal by registered agent/licensed brokers or directly with the insurance company.
  6. Monitor the protection period and time to pay the premium.
01-01-2009 by Sorli

category: Insurance Basic

Things That You Should Do When Involved In an Auto Accident

Nobody wants an accident to happen on their self. Even though, however prepared and careful we are, if it is unavoidable, what can we say. More, if the road accident involves our vehicle with others.

May be these following tips can help a little if you or a person you know involved in road accident:

  • Be calm and do not be panic. This is the most important thing before we take our next action.
  • If there were those who are injured, contact for ambulance or 911 (or any emergency number at your place) for help.
  • If there is no injury, move the vehicles from the traffic flow to a safe place, if it is possible.
  • Note and write other drivers’ name and addresses involved.
  • Take the model and registration number of other involved vehicles, write them.
  • Take the witnesses name and address, if there is any.
  • Make a rough sketch of the accident and the involved vehicles location just before and after the crash. Picture or photo on the accident can help police’s and authority’s investigation.
  • Exchange information on each others auto insurance company name / operator.
  • Do not discuss on who is guilty. This may create trouble in handling your claim.
  • If your vehicle needs to be tow, make sure that your vehicle will be sent to the right workshop. Contact the hotline number of your auto insurance company / operator to obtain information about the right auto workshop.
  • Report the accident to the police immediately.
  • Report the accident to insurers / insurance operator immediately, although you may have no intention of making any claim. The involved third party in the accidents might make an insurance claim from your insurance company and this can cause you to loose your NCD (No Claim Discount).
  • If you make an insurance claim, be sure to completely fill the insurance claim form and include any related additional information. If you have any doubt, get advice from your insurance company / operator.

Always be calm and do not panic.

30-12-2008 by Sorli

category: Auto Insurance