Five Common Car Insurance Fallacies

A car accident  (Photo credit: Wikipedia)

Car insurance, though very common, is still not fully understood by many people. Most people tend to focus on low-cost car insurance, but it is also important to understand the specifics, the fine print, of an auto policy. In the long run, only this thorough understanding will save car owners time and money. This post looks at five of the most common car insurance fallacies. 

Full Coverage

The coverage offered by car insurance policies vary according to a number of things. Most people, however, assume that when they take auto insurance, they are automatically eligible for low deductibles, comprehensive coverage, luggage protection and protection for expensive add-ons. Some people even think that any auto coverage protects their vehicles from theft and even damage. The reality is that all these are just insurance options that you may either opt for or not, depending on what your auto insurance policy entails. In fact, some state laws may even have a say on what options insurance companies may offer its customers. Therefore, you should be fully aware of this fact to prevent erroneous assumptions.

Driving a Friend's Car

You have probably driven a friend's car, or let a friend drive your car. Did you know that, in most states, you lend your friends your insurance coverage when you let them drive your car? This is something few people know, but it is the reality. If your friend has an accident while driving your car, it is your responsibility as the owner of the said vehicle to file a claim. As you know, filing claims can easily increase your auto insurance premiums by denying you your no-claims bonus. What is more, if your insurance limits are not adequate, your friend who borrowed the car may also be affected. In the no-fault states, you will be required to file a claim irrespective of who is deemed to have caused the accident.

Settlement Amounts

If your car is totaled in an accident, you may be surprised to learn that the amount of your claim settlement is not equal to what you paid for the car. Like most people, you expect to recoup the whole amount of your car's cost, but this is not always the case. You should note that your reimbursement fee will factor in things like market fluctuations and depreciation, everything that can affect your car's value. These are some of the reasons why your initial payment for the totaled car may not be fully reimbursed. The reimbursement only covers the full market value of your car.

Whose Fault Was It?

You might have a very clear opinion on who caused the accident, but the insurance companies will have to come up with their own ideas. The process of determining who was at fault in case of an accident is neither an arbitrary nor a rushed one, and all accidents have to be investigated first. An insurance adjuster is usually responsible for interview all the parties involved in an accident before deciding who was at fault.

Rental Car Reimbursement

In case you fall victim to an accident that makes your car non-drivable, you will need an alternative means of transport. If you are like most people, the convenience of rental cars will come to your mind. The problem is that most people assume that their car policies automatically provide coverage for replacement rental cars. What you should know is that, just like many other insurance benefits, this is an option that you must specifically purchase when buying your car insurance policy.

It is clear from the above discussions that making assumptions about your car insurance policy dangerous. When comparing car insurance rates found on www.insurancetown.com, you should go a step further and research the options included. Think carefully before opting for ultra-low coverage that may preclude most of these useful options.

Sam Fenton is a car insurance consultant. His articles mainly appear on insurance and personal finance blogs where he shares his tips.

Industry Spotlight: Ken Fisher and Fisher Investments

In the finance industry, it can be hard to know who to trust - especially in today’s uncertain economic climate. In writing this article, I have scoured the web to search for the men and women that you should follow if you want to stay on top of the industry. This first post highlights Ken Fisher and Fisher Investments. 

A Little About Ken Fisher

Kenneth L. Fisher, is very well-known in the financial world. He is currently considered one of the leading financial advisors in the world. He has visionary ideas and outlooks on the world of finance and continues to be a power force in the financial world.

Mr. Fisher graduated from California’s Humboldt State University in 1972 with a degree in economics. After working several years for his father, Ken Fisher had attained enough knowledge and expertise on the science of financial advising and investments to begin a business of his own. He founded Fisher Investments less than 10 years after graduating from college. This company now manages billions of dollars worth of investments.

In addition to his financial career, Ken Fisher is also an author and writer. His books of financial advisory offer many strategies and assistance to those looking to master the financial world just as Ken Fisher has done. He pens “Portfolio Strategy”, a column that has appeared in Forbes magazine since 1984. He is considered to be the fourth longest running columnist in the magazine's 90-plus year publishing run.

He has also written eight finance books, with five of those being best sellers:

• The Only Three Questions that Count 
• Markets Never Forget—But People Do 
• How to Smell a Rat 
• Ten Roads to Riches 
• Debunkery 

His financial success placed him on the Forbes 400 Richest Americans list.

Not all of his time is devoted to investing; he is also a well-regarded expert on 19th century logging. Through this interest in forests, he has documented approximately 35 old logging camps located throughout the Santa Cruz Mountains This passion for the forest led him create an endowment at Humboldt State—the Kenneth L. Fisher Chair in Redwood Forest Ecology.

On a more personal note, Mr. Fisher and his wife Sherrilyn have three sons. 

About Fisher Investments

With its headquarters residing in Woodside, California, Fisher Investments is a privately owned independent money management firm that has approximately 25,000 clients, more than 100 institutions, and manages billions of dollars.

According to its website, Fisher Investment manages investments for the wealthiest of Americans; however it also caters to what the company calls “millionaires next door”—those who want valuable investing advice and expertise. The company states that its approach to investments is flexible and dynamic, as well as global. Portfolios are adjusted through a forward-thinking approach as the market changes.

The company creates personalized portfolios for each of its clients that can include such investments as cash, traded funds, stocks, and bonds. The company has an outstanding track record with its client base with nine out of 10 private clients staying with the company for the last 15 years.

Why Life Insurance Is Now More Popular for People Over 50

Life insurance is something which most of us take out at some point in our lives. However, one big difference we have seen in recent years is a growing popularity in life insurance policies for people over the age of 50. There are a few different reasons why this could be the case. 

Longer Working Lives

As we now live longer in general it is also the case that we tend to work until a later age as well. In many cases this means that there is a need to protect our families against the loss of our income until later on in life. For example, someone who has loans or other commitments until after the traditional retirement age will want to ensure that there is some form of life cover in place for these debts. Of course, a lot of people still want this kind of insurance policy for the traditional reasons of covering funeral expenses and leaving something behind for their relatives. 

Cheap Premiums

In the past it was easy to think that life insurance for older people was far too expensive for most of us to even consider. Thankfully that isn’t the case these days and most people now know that they can get hold of this type of cover without paying out a huge premium. The best move here is to look online and get a few different quotes from reputable insurance companies. When you think about the importance of this kind of insurance it is clear that the current availability of low cost premiums only serves to make it an even more attractive idea. 

Easy to Get Covered

Another big fear for anyone who thought about over 50s life insurance policies in the past was the perceived difficulty of arranging it. The thought of going through medicals and having to answer long and complicated forms was enough to put a lot of people off the idea altogether. This has all changed now with the internet offering an easy way to arrange quotes, find out all the information you need and get covered at a click of a button. If we add in the fact that most of the time no medical is needed then we can see that it is now easier to get covered than ever before. A quick look online at a good insurance company site or a quote comparison site like Moneysupermarket.com will be enough to show you that arranging the policy you want won’t be a big deal after all.

Related articles

• Term Life Insurance Available for the 50 Plus Person (50plusfinance.com)
• Types of Life Insurance and How They Work (50plusfinance.com)
• Do You Need Life Insurance? (savealittlemoney.com)

Your Business Needs to Have a Home

(Photo credit: Wikipedia)

Walk through the city everyday as you view a countless examples of architectural and artistic constructions. Rich, historic, heritage buildings have becomes sites of government business and offices. Mixing tradition and timeless beauty to house some of the country’s most important delegates and promote the most essential businesses, these heritage buildings and offices, two in one somehow stand in contrast to those high towers of steel that define multinational BPOs and media companies. These structures are witnesses to some of the more developed modes of the economy consisting of the growing and changing face of the capital industry. Humbly standing next to these will be composite structures of residency marking a blend of domesticity and industrialization that form most of the definition of global culture today. All these are nothing more than reflections of the infrastructural base created for a developing global economy. 

The real estate sector is the whiz of this century’s capitalist mode. It is that branch of the financial global tree which mixes technology with infrastructure. It is also one of the off shoots of a growing world where space and time are constantly being defined and redefined. From basic industrial land requirements to larger aspects like accommodating the growing work population, the real estate biz is under constant pressure to fulfill these ever growing demands. Arising out of the need to have the best business minds flourish, one of the biggest contributions of the real estate market has been that of expanding work zones and understanding the changing work cultures and their multitudes that coexist side by side.

The work culture has now become more aligned to the collective mode rather than an individualistic one. Initially in any company the hierarchies of employment focused more on the individual employee and his growth. But now the whole perspective has molded into focusing on the overall growth of the business itself thereby, continuing to make the employee a highlight in the company’s progress but at the same time dealing with the larger aspect of the company’s general boom. This then has redefined the work culture as one of co-working. Co-working demands the work space to be a site of constant exchange of thoughts and ideas which not only promote the business of that particular company further but also molds its employees to give in their ultimate output related to efficiency.

For such a work culture the real estate market has come up with the concept of a unified workspace, wherein technology couples in with utility and purposes, making the work experience a package of individual and collective business growth. High-tech, well defined offices are no longer only fragments of dreams. They are very coherent realities in our world today. The estate market has changed the fate of a work zone from being one of boredom and monotony to one of art and repertoire. (For example, the upcoming property of office buildings in BKC, Mumbai). It has been successful in enabling zones of perfect work harmony wherein all the aspects of business come in together to collaborate and emphasize economical and financial growth.

The estate world has molded the work experience of businesses to bring out the best of commercialization. It has linked various national economies to form a web of economic impetus to the global economy at large. It brings forth the very concept of merging individual elements to come forth together to compose a complete picture of the urbanized facet of the global industrial sector. Providing the very essential base of infrastructure to assimilate other varied aspects of business together, the real estate sector has been successful in creating a perfect atmosphere for the growth of business and capital globally.

Bio: Lionel resides in India and is a graphic designer and a part time writer of http://www.thecapitalbkc.com/ . He is intrigued by post modern art and literature and seeks to define his designs with abstract patterns. He is also a lover of animals and loves to cook pasta.

Home Warranties: Are They the Same as Home Insurance?

 (Photo credit: Wikipedia)

Both home warranties and homeowners insurance policies can be purchased to protect the home. However, since the coverage of home warranties and homeowners insurance policies do not extend to the same potential outcomes, there is no conflict in purchasing both at the same time. One is used to protect the home's amenities against routine depreciation, while the other is meant to protect the same against emergencies such as burglars and natural disasters. 

Contingencies Covered Under Home Warranties

Home warranties are purchased to cover the cost of either repairing or replacing the home's appliances and systems in case these fail due to the normal depreciation caused through prolonged use. Examples of covered appliances tend to include ceiling fans, dishwashers, oven, and range. For comparison, common examples of covered systems can include the home's ventilation ducts, its heating and cooling systems, plus its electrical system. Bear in mind that appliances and systems covered under home warranties do not include outdoor amenities such as pools and sprinklers. Furthermore, it is important to note that not all home warranties cover the same contingencies, meaning that research is needed to understand their limitations. For example, some home warranties cover refrigerators, while others do not.

Contingencies Covered Under Homeowners Insurance Policies

Homeowners insurance rates are paid so that homeowners insurance policies can be used to protect the home against both man-made and natural disasters. Examples can include fire, floods, burglaries, earthquakes, hurricanes, and even legal liabilities. Although homeowners insurance policies sometimes cover the costs of either repairing or replacing appliances and systems, that damage must be traceable to such disasters. Homeowners insurance policies tend to be similar to home warranties in the sense that not all insurance policies cover the same contingencies and amounts. As a result, consumers must take extra precautions to find out the exact details of homeowners insurance policies under consideration before making their final purchasing decisions. For example, some homeowners might be able to decrease their homeowners insurance rates by eliminating coverage for contingencies that are never going to come up. After all, there is little to no point in purchasing coverage for hurricanes if the individual is living inland, far from the coast.

Reason to Purchase Both Home Warranties and Homeowners Insurance Policies

Since home warranties and homeowners insurance policies do not cover the same contingencies, there is little fear of encountering redundancies. Instead, home warranties and homeowners insurance policies can both be purchased to prove comprehensive coverage for a home and that home's contents. Contingencies that end up being ignored under one protection measure can be handled using the other, meaning that the homeowner is never at a loss for protection.

Conclusion

In the end, it is important for individuals to remember that home warranties and homeowners insurance policies can sometimes prove too expensive to remain worthwhile. Determining the exact point at which the price crosses that line is dependent on both the cost should the covered contingencies come to pass and the chances of those covered contingencies coming to pass. The more expensive the cost and the higher the chance that the covered contingencies may occur, the smarter the choice to purchase home warranties and homeowners insurance policies becomes.


Stephen Catalano is a home insurance consultant with extensive experience in the field. His articles mainly appear on insurance websites.

Choosing the Right Mobile Phone Package for You

Walking into a mobile phone retailer can be quite intimidating, especially when you’re suddenly surrounded by young people from the store trying to get you to buy what they claim to be “the best overall package”, even when you’re only going in to make an inquiry.

Sometimes you just want a standard mobile phone that you can use to make emergency calls and let your family know you've arrived at a destination safe and sound. On other occasions you might be looking for something a bit more modern, and you can’t get much more up to the minute than a smartphone. Everyone seems to have one these days, either texting, calling, emailing, playing games and browsing the Internet. But are they for you? 

Choosing a phone should involve choosing one that is right for you in every sense. If you’re unlikely to use all of the features incorporated into a smartphone, then a more traditional mobile option would be best, for instance. Similarly, having decided that you do want a smartphone, you’ll need to think about payment options as there are plenty of pay monthly, and no annual contract smartphones on the market. 

There are four things that you should consider before signing any agreement for a mobile phone, and doing your research beforehand can help you to narrow down your search.

Talking and Texting 

Your first consideration should be about how much time you plan to spend using your phone as, well, a phone. If you’re the kind of person who won’t be doing much text messaging, you don’t need to have 1,000 messages incorporated into your call plan. Similarly if you’re going to be using your phone for work, you might need plenty of minutes to stay in touch with the office. 

Business

That point leads me on nicely to business customers. A lot of networks have specialized packages tailor made for business users with web access and plenty of call time, giving you everything you need to do your job on the move for less in comparison to a standard call plan with business features “bolted on.” 

Technology 

Choosing a phone is like choosing any gadget, you want the one that’s filled with all of the technology that you need in your life. However, you don’t want to be paying extra for features that you’re never going to need. You can save a great deal of money by cutting the unnecessary factors out of your phone and going for a simpler option if that suits you. 

For example, if you feel as though you’re never going to get on with a touch screen keypad, you’re best off looking for a phone that comes with a more traditional QWERTY keyboard. Similarly if you’re not looking to use your phone to play music, look for one that doesn't have a built-in MP3 player or iPod that you’re paying for. 

Network 

Finally, you need to choose the network that best covers your area. While your friends and family might recommend one particular provider, they might have poor network coverage in your area. For that reason you can find out in-store how to get the best network for your call package, saving you the hassle of having to return your phone or buy out your contract to switch to a better provider.