Over 50 Life Insurance Helps Take Care of Your Family

You have always taken good care of your family. You have given them a home and all they ever needed in life. Did you ever wonder how they would manage if something should happen to you? If you had life insurance, you could continue to provide for them even if you should you pass away. 

There are many kinds of over 50s life cover available and selecting which one is best for you will be determined by your age. With all the insurance providers in business today it’s much easier to get a good deal. So you should shop around to get the best price. It's important to purchase your life insurance while you are still in good health if you want to pay the cheapest premium. Life is filled with so many unknowns and people even in good health die every day; why do we still deny these circumstances can happen to us by not being prepared. 

If the unimaginable happens there are many costs that need to be taken care of. After you pass, the last thing you want your family to worry about is the cost of a funeral. The average family could not pay for a funeral out of their savings. The enormous costs of internment are something a family doesn't need to worry about at such a stressful time. Securing a life insurance policy is the best way you can provide for your loved ones after your gone. 

At one time people paid off their mortgages by the time they were 50 but today most people are still paying their mortgage well into their 50s and 60s. This is one more reason that you need life insurance. Would your surviving spouse be able to make the mortgage payments if you were gone? Over 50s life insurance can help make the mortgage payment or even pay the house off completely if you should pass away. 

You may think that life insurance for the over 50 person is not affordable, this is not true. There are still great deals available, many even guarantee acceptance. The life insurance industry has many providers all competing for your business. With so much competition the cost for life insurance is more affordable. 

Get a Quote 

It is very easy to get a quote, online it is quick and easy. All you have to do is answer a few questions. On the Internet you can apply at individual companies’ websites. But there are life insurance comparison websites that offer prices from several insurance companies. With these websites it is so easy for you to compare individual policies all in one place. If you are not comfortable online you can also apply by phone or mail. 

Many put off securing life insurance because they hope for the best. We just don't like to think about dying someday; it is a very unpleasant thing to consider but it definitely will happen when you least expect it. Why wait any longer to take action. Start today to take the proper steps to provide for your family. 

Homeowners Insurance and House Guests: What Every Homeowner Should Know

English:  (Photo credit: Wikipedia)

There are many responsibilities that come with owning your own home. For starters, you need to be sure that everything in your home is in good working order without anything that can be dangerous to you or your guests. You also need to have a good homeowners insurance policy that will cover any damages to your home or its contents should anything happen. Then you must also add in liability for others who visit your home.

 

Why It Is Important to Know Your Policy 

When a person, welcome or not, comes onto your property and becomes injured, you are the one that is responsible for all of their medical treatments as well as their lost wages and anything else that can be associated with their injury. While homeowners insurance will cover some of these costs, there are instances where homeowners insurance may not cover all the costs; it is important that you determine what kind of liability insurance you should keep on your home; most insurance companies recommend liability coverage equal to or greater than the value of your home. 

What Does Liability Insurance Cover? 

Liability insurance on your homeowner's policy covers the medical costs and lost wages due to an injury that happens on your property. The injury that happens on your property can be your fault, an act of nature or even the other party's fault; in any case, the insurance kicks in and covers a predetermined amount. If you do not have enough liability coverage to cover all the associated costs, you can be held liable and taken to court for the remainder of the costs. 

The injuries can be caused by various reasons including faulty construction of the home, a loose railing or any other feature of the home. Additionally, the weather can even create a way for another person to become injured. Ice and snow are often culprits of serious bodily injury during the winter months. This type of weather tends to keep doctors, and insurance companies very busy. 

What Does Liability Insurance Not Cover? 

There are also many circumstances where liability insurance does not cover the injuries or costs; which is when you are likely to be sued in court. These injuries often include floods, an act of God or other specific details in which there is no insurance coverage for. The only time the insurance does not cover an injury on the property is when the initial cause of the injury is not covered. If there is a flood for example and the injured party steps on a nail due to the flood, the insurance will not cover the expenses associated with the flood including both repairs to the home and medical costs to the injured party. This is when it is ideal to ensure that anything that has a chance of happening to your home is covered since if injuries are not going to be covered for a guest, you are wide open to losing everything to pay for their expenses. 

Liability coverage on your homeowner's policy is important because even if you have an unwanted houseguest who gets injured, you can still be held liable for their injuries. When you have this coverage under your homeowner's policy, you will reduce the risk of being sued or having to pay the costs out of your own pocket. The ideal way to get the coverage you need is to go through an independent home insurance agency like Homeinsurance.com. 

Adam Vaught has experience working within the home insurance industry. He enjoys sharing his knowledge and tips with home-owners online via blogging.

Allstate: It Really is All in a Name

 An Allstate store  (Photo credit: Wikipedia)

The Allstate Insurance Company name came from the popular Allstate brand of automobile tires that were sold through Sears, Roebuck & Co. in the 1920s. The original "Allstate" name chosen for a new Sears tire brand in 1925 came from a national contest Sears held that garnered 2 million entries. 

Why a Sears Brand Name? 

Sears was a leading general merchandise brand in the 1920s. The Amazon of its time back in the day, it sold primarily through mail-order catalogues. Formed in 1886, it didn't open a retail store until 1925. With the Allstate brand tires sold through the Sears catalogue, the Allstate brand name became popular quicker than it would have otherwise. Cars, tires, and the Allstate name evolved into a natural fit for the name of the next Sears auto line, car insurance. 

During the 1920s, auto manufacturing and associated maintenance businesses like gas, oil, and tires became the most important economic sector in the United States. Automobiles were more important than the previous economic leading industry, steel. At least they were, up until the October 1929 stock market crash that caused the "Great Depression" of the 1930s. 

Before the crash, 1929 was a record-setting year for car sales of more than 5 million. After the stock market crash, auto sales dropped to 3 million sold in 1930. American automobile sales continued to decline in 1931 and 1932 to less than 1.5 million. 

Allstate Insurance Company Opens for Business through Sears 

Yet, the Allstate Insurance Company formed during the Great Depression despite the decline of automobile sales. In 1930, insurance broker Carl L. Odell proposed the idea to sell car insurance by direct mail through the Sears catalogue while playing bridge during a commuter train ride with his neighbor, General Robert E. Wood, the Sears President and CEO. 

Odell's idea to sell auto insurance through the Sears catalogue was based on cutting insurance costs by eliminating sales commissions. General Wood saw an excellent opportunity for cheaper car insurance as a much-needed service during the "Great Depression." Although car sales declined, American's reliance on cars was increasing. Wood persuaded the Sears Board of Directors to approve financing for the Allstate Insurance Company with $700,000. 

Selling only car insurance through the Sears catalogue, Allstate officially started business in April 1931. Odell became Allstate Insurance Company's vice president and secretary. The first sale came the following month for a 12-month policy on a 1930 Studebaker that cost $41.60. By the end of the first year, Allstate sold over 4,000 policies and earned over $118K in premiums. 

Allstate Insurance Company Grows Beyond Mailorder into Sears Retail Stores 

By 1933, Allstate Insurance made its first profit, a respectable $93,000 with 22,000 policies. Odell and Wood had proved their cost cutting theory of eliminating sales commissions by direct sales through the catalogue, But in 1933, Allstate set up a booth at the Chicago World's Fair and sales boomed. 

The first Allstate Insurance sales office opened in a Chicago Sears retail store in 1934. Although the formation of Allstate Insurance was based on avoiding the extra cost of sales commissions, the savings from using existing Sears stores offset the extra commission expense in full. 

Allstate Insurance Company continued to transition from catalogue to direct sales through Sears stores during the "Great Depression" and sales increased at a slow, yet steady pace. Allstate went on to become the trend-setting industry leader in the United States auto insurance industry through the 1940s and 50s. 

The Allstate Insurance Company name demonstrated how quickly a new product can prosper by using the same name as an existing and related industry product brand. 

Dennis Gilroy has acquired extensive experience in the insurance industry. He enjoys writing for personal finance blogs. 

Car Insurance News: Trading Less Privacy for Lower Premiums

A car crash on Jagtvej in Copenhagen, Denmark. (Photo credit: Wikipedia)

Faced with an unprecedented rise in car insurance claims, most insurance firms have been forced to increase the cost of their premiums. This has strangled the market for cheap car insurance policies and as a result pushed up the cost of motoring for many drivers. Typically, insurance providers' assess the cost of the driver's premium based on the characteristics of people in the same demographic - age and gender. Take for instance; single 18-year old men pay more for the same premium as compared to 50-year old married women. This skewed approach of generalization, albeit applied for ages, doesn't play any role in effecting behavioral change and tends to reinforce stereotypical perceptions. 

Better Alternative 

Technology has revolutionized many facets of the economy and it has yet to make its foray into the conservative insurance industry. Taunted by industry players as the cars' 'black box', technologists have developed innovative in-car tracking equipment that monitors drivers' behavior behind the wheel such as acceleration, braking, cornering speed and time of driving. The data obtained is then analyzed and used to calculate insurance premiums. This leads to insurance premiums that are value-based on the individual's driving habits rather than age or sex. 

Benefits 

According to recent research findings, drivers who use the technology are 20% less likely to get involved in a serious car accident than those with a standard insurance cover. This stems from the fact that drivers are more cautious while driving since they know their actions are being monitored. Furthermore, it assists insurers in knowing the exact mileage covered as opposed to depending on a driver's word. This is a crucial ingredient when calculating car insurance quotes, as it has been proven that cars with high mileages are more prone to accidents. In addition, for those who don't drive much they can get low mileage insurance covers which are tailor made depending on their needs. 

Eligibility for Discounts 

As this is a trade for less privacy for lower premiums, drivers who agree to install the monitoring device are eligible for discounts that rise up to 30%. Most insurance providers appreciate the fact that these devices have a profound impact in instilling behavioral change in drivers to be more careful leading to fewer occurrences of accidents. For instance, car insurance by insurancetown.com offers attractive discounts for customers who adopt the technology saving them insurance costs in the long run. 

Privacy Concerns 

With many people increasingly being wary of the privacy concerns of this technology, it is important to debunk the myths first. Contrary to public perceptions, the device is not GPS enabled, hence the insurance provider cannot know your exact location. The firm may have information on the number of miles you drove, what time of day you drove and other driving data, but cannot track where you were. According to industry pundits, the technology should not be viewed in light of privacy concerns but its capacity to reduce accidents and save lives. 

To sum up, the device offers a win-win alternative that offers numerous benefits to both the insurance provider and car owner. Most importantly, apart from reducing insurance costs, the technology saves lives as drivers tend to become more cautious. 

Jeff Mathis worked as an insurance consultant for more than 20 years. He likes to keep up to date with industry news and writes about car insurance on a range of insurance and personal finance blogs around the Web.

Pay As You Go Insurance: What It Is and Why It's Growing in Popularity

The high cost of insuring a vehicle continues to take a huge toll on the financial resources of many consumers. An increasing number of people have been driven to seek out and utilize innovative measures that will help them save on car insurance. The "Pay As You Go Insurance" plan is one of these options that is fast gaining popularity among vehicle owners. 

Pay As You Go Insurance 

Pay as you go insurance is a revolutionary payment system that some insurers have put in place to help their customers pay the insurance on their vehicles. It is a mileage discount program that calculates the auto insurance premiums using the number of miles you drove. More mileage results in higher payment so the less you drive the less you pay. This plan works well for drivers who do not use their cars all the time. Instead of paying a flat fee for a set period of time then have the car sitting there unused for a significant portion of that period, they only pay for the time the car was actually used. Other drivers who use their car more frequently can save more by driving less. The first telematics technology-driven Pay As You Go insurance discount program in the United States of America was implemented by GMAC Insurance and Onstar. 

Pay As You Go is the ideal insurance solution for those who would prefer to not commit themselves to a demanding insurance contract or having to pay high monthly fees. This payment method was popularly used to finance mobile phones and is now proving as an effective method to pay and save on car insurance. 

The Reason Pay As You Go Insurance has Gained Popularity 

Vehicle owners, depending on the state they live, have to pay as much as $600, $1000 and even $2500 for their insurance premium per annum. Those who will not be using their car for much of that year stand to lose money when they pay the full sum of the premium. Having the option of simply paying for the time you drive your vehicle is by far a more convenient and financially friendly solution. 

Drivers can also control the cost of their premium by paying attention to their driving details. For those who are on the plan, a small monitoring device is installed onto the vehicle to collect certain information. The device will record information such as when you drive, the distance you traveled, and the frequency or force with which you brake. This means that a driver's style of driving will ultimately determine the cost of his premium. Those who want to save on their insurance can tailor their driving habits to lessen their premium. 

Car insurance is a major expense for vehicle owners. Pay As You Go Insurance offers some relief to many people who find it difficult to meet the annual payments. The coverage is now offered by eight of the ten top insurers in the U.S.A. Both insurers and customers have realized the savings they enjoy when they pay their insurance as they go.

 
Andrew Macneil has a background in the auto insurance industry and enjoys writing on the subject. His articles appear on a number of personal finance and insurance blogs. Visit Cheap Insurance for more details.

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.