Posted by admin on January 26th, 2010
In the good old days, the world was a simple place. You went into a store to buy goods, or to an agent or broker to buy services. The price was quoted and you paid it out of the cash in your bank account. If your account was poorly stocked with dollar notes, you had to wait until you had saved enough. In this primitive way, people lived within their means, only buying goods and services when they could afford them. Those who had regular income and some collateral, were graciously allowed to borrow money from their banks. But pity those who defaulted. Their collateral would rapidly disappear into the hands of their bankers. It was a tough world for borrowers. Then there was a revolution. Suddenly, there was cheap credit available and we could all have what we wanted right now. Just one down-payment and the rest in easy instalments. Then the revolution became a financial tsunami as the newly launched credit cards suddenly put real buying-power in our hands with generous credit limits. Add in the housing equity release plans and all the other wonderful financial gizmos dreamt up by the folk who live on Wall Street, and you have the modern age just before the worst recession in decades and the credit crunch that took everyone by surprise. Read the rest of this entry »
Posted by admin on December 26th, 2009
1. Low mileage discounts really help. You can opt for one if you use a lot of public transportation, work at home or simply drive less than 10,000 miles annually. Carpools also give you the possibility to discuss low mileage discounts with your insurance carrier.
2. Raise the deductibles to be paid. Increasing your deductible two times will result in an average 10% decrease in your annual rates, depending on your insurance carrier. Also, if you have an old vehicle, you might want to go without comprehensive and collision coverage in general, because it may be just unreasonably costly. But in that case be prepared to pay for the repair out of your pocket.
3. Hybrids help you save money. Some insurance carriers offer up to 10% discounts for driving a hybrid vehicle. Still, if you don’t feel like owning one of such cars yet, you may go with a safe profile car instead. Insurance companies issue report containing the safety rating of car makes and models, so it’s a good idea to think about.
4. Do not pay for coverage you don’t use. Dropping coverage types such as Roadside Assistance, Towing and Rental Car coverage will give you another possibility to save money. Especially, considering the fact that some insurance companies actually provide roadside assistance to their customers as part of the policy.
5. Check your credit report on a regular basis. Your credit rating is one of the elements that strongly influence the final premium you will pay. Keeping your credit record clean of bad debts and outdated payments will earn you a higher credit rating and will help you get a lower insurance premium.
6. Don’t lapse your insurance policy. Missing your annual policy payment is likely to cause its cancellation, and it will be much harder and more costly to get a new policy even with another provider as this will be noted in your report. In case you don’t have the money to pay your premium in full, ask your agent if a partial installment will prevent you from losing the policy. Read the rest of this entry »
Posted by admin on December 26th, 2009
Imagine one of your top salesmen wins a contract in Asia and has to fly there to seal the deal. What if the $5000 trip needs to be laid off due to a public health problem, disaster or another disruption?
You might expect refundable business class tickets to allow them being laid off or that the company investment is protected by travel “waivers” offered by the travel agents. Sometimes this is the case but not always. Waivers apply to very specific circumstances and are loosely regulated. Always remember to read the small print to understand exactly what your rights are.
The alternative, of course, is to take out travel insurance. This way you can manage the risk of changing business travel plans and add other types of cover to the policy, proving extra security to your employee. Travel insurance can entail a complete risk management plan designed to protect the employee, company and investment.
Travel insurance is available for purchase per trip or it can cover all the travels of workers within a specified period of time, one year being the most typical period. Policies like these are specifically designed for enterprises where employees and management have to travel internationally on a regular basis, visiting risky areas on occasion.
Travel Insurance Types
Travel insurance is primarily designed to cover five categories:
Cancellation. If the trip is canceled, this ensures the cost is covered. Coverage should be as broad as possible to protect against cancellation for any reason although this will cost extra.
Travel and Major Medical. This determines the medical insurance coverage. Travel Medical insurance covers medical care for short overseas trips and includes assistance from the insurer in finding doctors, hospitals and overcoming language problems. Major Medical covers long-term travel or overseas postings. Read the rest of this entry »
