"I frequently tramped eight or ten miles through the deepest snow to keep an appointment with a beech-tree, or a yellow birch, or an old acquaintance among the pines."
Is it Wise to Purchase Travel Insurance? The best way to determine if, for you, it is wise to purchase travel insurance, is to consider the various emergency situations that could arise during your trip, determine the best guess for the cost of each, and see whether you can afford to pay for the ... Is There Discount Term Life Insurance Out There? First of all, we've all heard of life insurance. Many of us even have it. But what is term life insurance? The meaning of term life insurance is in its name–it covers its policyholders for a certain amount of time–a certain term. It costs much ... Tips for Selling Life Insurance: Q&A Tactics The insurance agent shakes hands with the potential client, sits down, smiles and says, "I have a product here that I believe to be the best life insurance package I have ever seen. In all of my years in the insurance business, I have never been ...
Auto Insurance Primer
What is auto insurance? Auto insurance (or car insurance, motor insurance) is insurance consumers can purchase for cars, trucks, and other vehicles. Its primary use is to provide protection against losses incurred. By buying auto insurance, depending on the type of coverage purchased, the consumer may be protected against:
* The cost of repairing the vehicle following an accident * The cost of purchasing a new vehicle if it is stolen or damaged beyond economic repair * Legal liability claims against the driver or owner of the vehicle following the vehicle causing damage or injury to a third party.
Liability insurance covers only the last point, while comprehensive insurance covers all three. Even comprehensive insurance, however, doesn't fully cover the risk associated with buying a new car. Due to the sharp decline in value immediately following purchase, there is generally a period in which the remaining car payments exceed the compensation the insurer will pay for a "totaled" (destroyed, or written-off) vehicle. So-called GAP insurance was established in the early 1980's to provide protection to consumers based upon buying and market trends. The escalating price of cars, extended term auto loans, and the increasing popularity of leasing gave birth to GAP protection. GAP waivers provide protection for consumers when a "gap" exists between the actual value of their vehicle and the amount of money owed to the bank or leasing company. In some countries including New Zealand and Australia market structures mean that people are more likely to buy a nearly new car than a new car so this is less of a problem.
In the United States, liability insurance covers claims against the policy holder and generally, any other operator of the insured's vehicle, provided they do not live at the same address as the policy holder and are not specifically excluded on the policy. In the case of those living at the same address, they must specifically be covered on the policy. Thus it is necessary for example, when a family member comes of driving age they must be added on to the policy. Liability insurance generally does not protect the policy holder if they operate any vehicles other than their own. When you drive a vehicle owned by another party, you are covered under that party's policy. Non-owners policies may be offered that would cover an insured on any vehicle they drive. This coverage is available only to those who do not own their own vehicle.
Generally, liability coverage does extend when you rent a car. However, in most cases only liability applies. Any additional coverage, such as comprehensive policies, i.e. "full coverage" may not apply. Full coverage premiums are based on, among other factors, the value of the insured's vehicle. This coverage may not apply to rental cars because the insurance company does not want to assume responsibility for a claim greater than the value of the insured's vehicle, assuming that a rental car may be worth more than the insured's vehicle. Some states, such as Minnesota, may require that it extend to rental cars. Most rental car companies offer insurance to cover damage to the rental vehicle. In some regions, the costs associated with not having access to the vehicle ("Loss of Use") is also covered.
About the Author What is auto insurance? A basic primer on auto insurance.
Insurance News
Aon’s bribery fine is a major milestone - Global Reinsurance Online The Financial Services Authority’s (FSA) £5.25m fine against Aon for failing to prevent bribery overseas is a step forward in the fight against corruption, but the UK authorities still have much work to do. Unlike the US, which takes enforcement ...
House Dems to take up Obama-favored legislation to expand children's ... - Newsday WASHINGTON (AP) — House Democrats plan to give President-elect Barack Obama an early victory on health care with a vote next week on legislation to expand a children's health insurance program. The legislation will look similar to bills the House ...
Miss. couple files appeals in Katrina case - Mississippi Press JACKSON, Miss. (AP) — A federal appeals court has scheduled arguments for Feb. 4 in a Mississippi homeowner's appeal involving a Hurricane Katrina damage case. David and Marilyn Aikens filed an appeal of a ruling by U.S. District Judge L.T. Senter ...
Did Ramalinga Raju siphon off money? - Economic Times MUMBAI: Did Satyam Computers promoter-chairman Ramalinga Raju pick the lesser of two crimes when he decided to confess to India’s largest-ever corporate fraud of Rs 7,136 crore? That’s a question that had begun to niggle a few people on Wednesday ...
Local insurance company raided by insurance agents - Victorville Daily Press VICTORVILLE • The Bureau of Insurance raided a Victorville insurance company Thursday morning, according to initial reports. Agents descended upon Desert Canyon Insurance Services on Bear Valley Road east of Hesperia Road, officials said. The ...
Obama Plan for Government Insurance Criticized by GOP (Update2) - Bloomberg Jan. 8 (Bloomberg) -- President-elect Barack Obama’s plan to have new government health insurance compete with private coverage drew Republican fire at a nomination hearing for Thomas A. Daschle to run the Health and Human Services Department ...
N.J. charges seven in alleged insurance scam - Philadelphia Inquirer New Jersey authorities have charged seven people in an alleged workers' compensation scam that they say left many people without insurance. Those charged are accused of operating companies that linked workers' compensation insurance carriers and ...
Is it time to ditch medical insurance? - Times Online This time last year the UK's private health industry was on a roll. The number of people covered by medical insurance (6.5 million) was at a record high, with many more dipping into their own pockets to “go private”. Today the future is not so ...
