Top Tips for Cheaper Car Insurance

You are here because you want to get a good deal on your car insurance , and shopping around is the best thing you can do. However, there are other things you should be aware of that could reduce your car insurance premium, and that's why we've constructed a list of Top Tips for you. Read through the whole list, you may learn something that could dramatically reduce the cost of your car insurance.

Park smart - parking your car in a secure location such as a locked garage or a secure designated off road parking spot will potentially reduce your car insurance premiums .

Buy in bulk - many of the larger companies that offer car insurance also offer other forms of insurance like home and life insurance. You may receive a discount for buying multiple forms of insurance with the same company.

Be alarmed - Thatcham-approved alarms are recognised by all insurers and most will discount your premium if you have these fitted.

Pay up - insurers charge a high rate of interest, around 15% APR on average, to allow you to pay your premium in monthly installments. It is much cheaper to pay your premium in one lump sum.

Buy online - financial products on the Internet are generally cheaper than traditional methods such as by post or over the telephone. Car insurance is usually about 10% cheaper online.

Shop around - if you want a deal you've got to be prepared to look for it. Some companies only provide policies for a specific market niche e.g. Esure only accept application from drivers with more than 4 years no claims bonus for example, so if you fall into their category you can potentially make big savings.

Consider the insurance rating - some cars are deemed to be of a much higher risk than others. When you are buying a car, check out its insurance group rating as car insurance premiums vary greatly between insurance groups. The cost of a group 1 car will be a tiny fraction of the cost of insuring a group 15 car.

Improve your driving skills - many insurance companies will provide a discount for having passed an advanced driving qualification. Consult individual car insurance companies for their policy in this area

Savings in numbers - if you have more than one car, you may be able to get a multi-car discount which allows a significant discount on all your policies if you insure multiple vehicles with them.

Go Third Party - if your car has a low replacement value, it's probably not worth going for fully comprehensive car insurance . If the car gets written off you would be able to afford to replace it, whereas if you don't write off the car you will make a considerable saving.

Negotiate your excess - you will be able to reduce the cost of your car insurance considerably by choosing the largest excess the insurance company offers.

Mind the add-ons - visual and mechanical changes to your vehicle may increase the insurance group. If you make any changes to you must check you are fully insured before taking to the road. You are also likely to pay higher car insurance premiums if your car has been modified.

Think of the bonus - a full no-claims bonus can knock up to two-thirds off an car insurance premium. If you suffer a minor accident try and avoid claiming on your insurance or next year the premiums may well increase, however you can avoid this by asking your insurer if you can pay a small additional premium to protect this bonus.

Young driver equals high premium - young drivers always have the highest car insurance premiums but these can be significantly reduced by buying a low value car that also has a low insurance group rating.

Declare low mileage - if you only drive a limited amount of miles a year, arrange a low mileage insurance policy. However be aware that aware if you drive over the agreed limit you may find yourself uninsured!

The cost of importing - your car may be cheaper bought from abroad but the insurance probably won't be! The parts can be more expensive and difficult to find, so take this into account unless you're buying a car fully catered for in the UK (Citroen, Renault, BMW etc).

The older you are, the lower the premiums - if you are that bit older it's worth shopping around the insurance companies that specialise in the mature driver market, you may find substantial savings are available.

Health Insurance

The term health insurance refers to the kind of insurance policy which pays for the expenses made for medical needs. It included several divisions like the long-term nursing or covering disability or even the custodial needs. Health insurance can be availed either for an individual or for a group or family depending on the needs. In both the cases, premiums are calculated accordingly and paid over to secure themselves from any kind of health care needs and expenses.

The primary source of coverage of most of the Americans has been the private and also the not-for-profit health insurance. According to the estimations based on the United States Census Bureau, it has been found that around 84% of Americans have health insurance. In account to this, around 60% is purchased through the employer where as the rest of 9% percent get it themselves. Even government agencies provide coverage to about 27% of the individuals. The other estimation proves that around 41.2 million people in the US are not insured and the major reason has been considered to be high and expensive health insurance plans.

Some of the primary coverage offered includes that for the low income children, the seniors and also for those families who just meet their daily requirements. Some of the major programs include the federal social insurance program for disabled and seniors, Medicare, Medicaid and many others. Some of the public programs include the TRICARE which is the military health benefits, Indian Health Service as well as the Veterans Health Administration. There are also certain additional health programs and insurance started for those low income individuals in different parts of US.

The exact definition of health insurance cannot be explained as there are different formats available. Deductibles are often present with the health insurance policies which are the amount to be paid upfront before starting with the insurance policy. Co-payments are another option where the routine procedures get divided between the insured as well as the company so that they do not take up the entire expense from their behalf.

The major reason for the increasing cost of health insurance is mainly due to the rise in medical cost as well as the selection process. The major principle on which the health insurance revolves is that the insurance premiums are being paid by a huge number of healthy people and the money collected together pays the expense of the insured that gets ill. The entire phenomena keep continuing and the money keeps on rolling.

Child Insurance

Getting a child insurance policy helps in financially securing your child’s future. There is both life as well as health insurance packages available which are especially meant for children. A child life insurance policy will help build cash value over a period of time, till such time your child enters adulthood. Similarly a child health insurance package will come in handy in case of any unforeseen circumstance.

There are numerous insurers in the market who offer insurance specially meant for children nowadays. Just as in the case with choosing any other type of insurance, you should carefully consider certain factors before you decide on the type of insurance that your child needs. Checking every aspect of an insurance policy and clarifying all your doubts is the key to choosing the right child insurance product. For instance if you want a child health insurance policy, then you need to check whether treatment by a group of medical specialists is part of it or not.

Even in the case of a life insurance for your child, you should carefully analyze all factors before you make a final decision. There may be many who may be actually skeptical about getting a life insurance policy for a child. This should not be the case, since a pre-existing life insurance policy can take care of many expenses, such as illness, medical bills and in certain unfortunate events, funeral and burial costs. There could be times when one may need to bear huge medical expenses due to fatal illness of a child, too. A life insurance policy, specially meant for children, would often come in handy during such troubled times.

The best way to gather information about the various insurance packages meant for children would be to hop online. Most of the leading insurers have their detailed online sources from where you can get information about the various child insurance products on offer. Another person who can help you with valuable advice would be your insurance advisor. They can offer you honest information on the various child insurance products and help you choose the right one for your child.

It is always preferable that you shop around for a child insurance policy. You should try and get in touch with multiple insurers. This way you can gather more market information and also compare the different child insurance plans on offer. All this research will help you to choose the right insurance policy for your child

Long Term Care Insurance

Long Term Care Insurance is also abbreviated as LTCI or LTC and it is the insurance sold up mostly in the United States. It has been evolved to provide the cost of long-term care which has been contracted to a certain time period. Those care and concern neglected by Medicare, health insurance and Medicaid is covered by LTC.

Those individuals seeking long term care insurance are those who are not able to perform their daily activities including eating, bathing, dressing, continence, toileting, walking or even transferring. These people are also not termed to be sick as it is their inability to perform these functions. Unlike what the name pertains, the insurance is not a long term one but it includes a particular time frame for the recovery from any accidents, illness or even from surgeries. With the stimulation of age, the need for long term care also increases. Still, age does not play an important role in having the long term care as the estimation proves that around 40% of those who are into long term care insurance are aged between 18 to 64. With a change of health or pattern, the insurance might not be made available as more help is not needed and so the long term care insurance. Even though Parkinson’s and Alzheimer’s disease do not occur often, it does occur rarely and should be considered.

The different aspects covered by Long term care insurance includes assisted living, home care, hospice care, respite care, adult daycare, nursing home and also the Alzheimer’s conditions. There are many of them who do not wish to rely on their children or other family members to support them. For those who wish to stand on their own, the long term care insurance can assist them by covering their pocket expenses. The savings of the individual or the family can get ruined easily without the presence of the long term care insurance.

You can also avail an income tax deduction on taking the long term care insurance which is of great relief. The age of the person covered plays an important role in the deduction of the amount. There are also some business deduction plans which depend largely on the type of business concerned.

When you need someone to hold your hand or support you for your daily activities, it is the right time and the perfect choice indeed to depend on the long term care insurance policy.

6 things that affect car insurance costs – and what you can do about them!

A wide variety of factors are taken into account when an insurance company assesses the risk you pose to them – and any one of these could have an impact on the cost of your policy.

Here are six things that could affect your car insurance costs, and what you can do about them!

1. Your vehicle
Some cars are regarded as riskier to insure than others. Insurers view vehicles that have powerful engines as more likely to be involved in accidents.

Likewise, soft top cars are seen as easier to break in to, so they’re usually more expensive to insure. If you’re choosing a new car, it’s worth taking these things into account.

Alternatively, if you’re tempted to modify your existing vehicle, you may want to think twice. Most insurance companies charge higher premiums for modified vehicles, no matter how minimal the changes you make to your car.

2. Your location
Where you live will affect how much your car insurance costs, because local crime and accident statistics will be used when your insurer calculates the risk you’ll make a claim.

Of course, moving house to reduce your insurance premiums is not an option!

You can, however, take other precautions that might help lower the cost of your insurance, regardless of your postcode.

Parking your car on a drive or in a garage will help, as will fitting a security device such as an immobiliser or car alarm to your vehicle. If you’re able to do these things, make sure your insurer knows so it can be taken into account when the price of your policy is determined.

3. Your age
As any driver under 25 or over 65 will testify, your age can have a serious impact on how much your car insurance costs.

Insurers use data on other customers of your age to predict how you will behave, and claim their statistics show people within certain age groups are more likely to make claims.

However, the government recently published the Equality Bill which is due to come into law in 2010. This may make it more difficult for insurance companies to price customers’ premiums in line with how old they are.

In the meantime, older drivers might want to investigate whether a specialist insurer could offer them a better deal. Companies such as Saga specifically target customers who are 50 or over.

4. Your profession
Believe it or not, your job title can affect how much you pay for your car insurance. Some professions are regarded as riskier than others based on insurers’ past data.

You could try tweaking your job title when comparing insurance policies to see whether it affects the price you’re quoted. For example, a ‘writer’ might find a slightly cheaper car insurance deal than a ‘journalist’.

However, you should only ever use a job title that reasonably describes what you actually do. Telling an insurer you have a certain job when you don’t is fraud.

5. How you drive
Driving carefully should be a top priority if you’re looking to keep your car insurance costs down.

If you’re involved in an accident, caught speeding or fined for using a mobile at the wheel, you are likely to see the price of your next premium increase (and might lose your no-claims bonus).

6. Which company you choose
Finally, remember: sticking with the same insurer year after year means you probably won’t be offered its cheapest deals.

These tend to be reserved for new customers, so loyalty to one company may mean you lose out.

Comparing insurance deals from a variety of providers is the best way to ensure you get value for money when you buy car insurance. Good luck with slashing those costs!

The Trouble With Health "Insurance"

Washington is abuzz with news from the Senate Finance Committee's recent Health Care Roundtable Discussions and President Obama's announcement on Monday that he supports proposed voluntary action by the insurance industry and its allies to cut health care cost inflation by 1.5% per year.

However, as the National Coalition on Health Care points out, health care costs are actually rising at a rate of more than 6%.

One step forward, 4 or 5 steps back. Not a solution.

The problem is Washington's apparent acceptance of the health insurance industry as a necessary player in its health care reform efforts.

Insurance companies are in business to make profits for their shareholders. And they are profiting from the suffering of others, often by denying payment for necessary medical treatment. That itself is incompatible with the core definition of health care.

This is why we need single-payer health coverage for all Americans. By eliminating market competition and a for-profit business structure for essential health services, we can keep costs down.

Alternative or add-on coverage could be offered by the private insurance companies for those who can afford it, and could cover luxuries like elective cosmetic surgery and private hospital rooms.

Furthermore, government-managed health care could eliminate the link between your job and your health care coverage. When I've talked with people outside the U.S. about how most Americans get our health insurance through our employers, they were amazed.

Health care should be a right, not a privilege granted by one's employer or one's employment status. (Indeed, Article 25(1) of the Universal Declaration of Human Rights states that "[e]veryone has the right to a standard of living adequate for the health and well-being of himself and of his family, including ... medical care and necessary social services, and the right to security in the event of ... sickness, disability, widowhood, old age or other lack of livelihood in circumstances beyond his control.")

And taking the cost of health insurance benefits off the shoulders of employers could serve as its own little economic stimulus plan that could help to keep some struggling businesses solvent.

On the campaign trail last year, Obama said he would consider a single-payer system. Unfortunately, however, it now appears that the insurance industry is stronger than our president.

The insurance lobbyists have apparently bought and sold our lawmakers to the point where a single-payer option is now off the table.

These are the people we elected to represent us. And indeed a majority of Americans support a national single-payer health care program.

Instead, however, it looks as though the majority in Washington favor the moneyed special interests over the people they were elected to serve.

HEALTH INSURANCE TROUBLE

Tony Herlihy of Woodville discovered he had Parkinson's Disease while employed by Dominion Breweries at Mangatainoka. Luckily, he was covered by DB's Employee Benefits Scheme. This meant that he stood to get a lump sum payout of around $40,000. But the Scheme's policy document stated that you couldn't put in a claim until you'd been out of work for six months due to illness.

Tony continued to work as he was still capable of doing so, though his health continued to deteriorate. However, DB later made Tony redundant with a payout of around $40,000. After he had been out of work for six months, Tony put in his claim for his total disability but AXA, who underwrote the scheme, told him that there was no way he could claim because he had not left work because of ill health; he had been made redundant.

Tony felt that as he got Parkinsons while he was covered he should be paid both the lump sum total disability payout and his redundancy. AXA and DB say you can't have it both ways, and that the redundancy payout made up for his not getting a lump-sum payout.

Fair Go believes that AXA should pay out immediately to people who get Parkinson's. There is no cure for Parkinson's so there seems little point in insisting on a six month stand-by. We are also surprised that DB doesn't appear to have made it clear to Tony, when they made him redundant, that his redundancy meant the end of any hopes of claiming on his total disability claim.

We're pleased to say that after discussions with Fair Go, DB agreed to pay out $15,000 to Tony, saying that they regretted the situation he found himself in and that he had been a valued employee of the company.

Top 10 Players in Insurance Companies in India

Life Insurance Corporation of India
Life Insurance Corporation (LIC) came into existence on 1st September 1956 through the amalgamation of 154 Indian insurance companies, 16 non-Indian companies and 75 provident. The amalgamation was achieved with the help of Life Insurance Act passed by the Parliament in the same year. The LIC was created with the goal of reaching all the insurable people in the country and providing them financial coverage at a reasonable price. In the year 1956, LIC had 5 zonal offices, 33 divisional offices and 212 branch offices. With time there was a need for a branch office at every district headquarter and many branches were opened, which raised the pace of the organization.
LIC now has 2048 fully computerized branch offices, 100 divisional offices, 7 zonal offices and the corporate office. At present, online premium collection facility is being offered in selected cities as LIC has tied up with some banks and service providers. For providing customer satisfaction the organization has introduced various schemes such as ECS, ATM premium payment facility, IVRS, Info centers which are set up in various cities including Mumbai, Bangalore, Chennai, Kolkata, New Delhi, Pune and many more. It has also come up with SATELLITE SAMPARK offices providing easy access to policyholders. LIC has crossed many milestones and set standards for itself fostering unmatched performance.

Objectives

• Holding the money with obligation and using it in the best possible manner in the interests of the policyholder and the community.
• Bringing attractive savings plans and making them easily accessible to the policyholders.
• Giving attractive returns to the people and keeping in mind national priorities.
• Being trustworthy to the customers and develop the spirit of corporate social responsibility.
• Spreading insurance in both rural and urban areas and covering all the insurable persons at a reasonable cost.
• Bringing in plans and policies favorable to the changing environment.
• Providing efficient service and involving people in the organization for their satisfaction.

Bajaj Allianz General Insurance Company Limited
Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Auto Limited and Allianz AG of Germany.

Bajaj Allianz General Insurance came into existence on 2nd May 2001, when it got certification of Registration from the Insurance and Regulatory Development Authority. Bajaj Auto has a share of 74%, whereas Allianz has the remaining 26%. In the very first year, the company made a strong position for itself in the industry and was reckoned amongst the top private insurers. The premium income of the company as on 31st March 2006 was Rs. 1285 crores, whereas the profit after tax made was Rs. 52 crores. Bajaj Allianz has a Pan India network covering over 100 towns from Jammu to Thiruvananthapuram and aims to spread its operations in many other cities.

The vision of the organization is to be the first choice for customers, and provide job satisfaction to the employees and create shareholder value. The organization strives to excel in its products and services, providing total customer satisfaction.

Bajaj Allianz serves customers in all areas of General and Health Insurance as well as Risk Management. It has in-depth knowledge of the local market and extensive distribution network with expertise, stability and experience. It has a capital base of Rs. 147 crores, and is allowed to serve both the General and Health insurance.

It has achieved iAAA rating, by ICRA Limited and has the highest claims- paying ability and a stable position in the market. In a 2006 survey, Business World has rated it among the Most Respected Companies, putting it at No.2 position in Insurance sector.

The Company provides the following products under general insurance:

• Travel Insurance
• Asset Insurance
• Health Insurance
• Corporate Insurance

ICICI Prudential Life Insurance Company
ICICI Prudential is a joint venture between ICICI bank and Prudential plc, both having strong operations in their respective countries. ICICI bank is one of the leading banks in India providing quality financial services and Prudential is an international financial service provider headquartered at United Kingdom. ICICI and Prudential have respective shares of 74% and 26%. The Company started operating in December 2000. Currently, total capital with the company is Rs. 18.15 billion.
ICICI Prudential was the first insurance company in India to receive a National Insurer Financial Strength rating of AAA (Ind.) from Fitch ratings. It has been given the honour of being among the Most Trusted Brands in the industry by Economic Times for 3 consecutive years. It has a network of 450 branches, over 1,50,000 insurance advisors and 18 bancassurance partners.

As the organization grows and develops, it keeps introducing new range of products and services and enhancing the quality of plans and solutions given to the customers. The distribution network is one of the best, and is spreading across the length and breadth of the country. As on December 31, 2006, it had made imprints in over 360 cities and towns in India. It has over 1,75,000 advisors across the country, serving clients with full commitment. It has tied up with ICICI Bank, Bank of India, Federal Bank, Lord Krishna Bank, some co-operative banks, NGOs, MFIs and corporates for making inroads into the rural areas.

Products
Insurance Solutions for Individuals: ICICI Prudential Life Insurance offers several novel, customer-centric products for customers at every stage of life. The products and services offered by the organization are in various fields, such as:

Savings & Wealth Creation Solutions

• Premier Life Gold
• LifeLink Super
• Invest Shield Life New
• Cash Plus
• Cash Bak
• Life Time Super & Life Time Plus
• Save 'n' Protect.

Retirement Solutions

• Life Link Super Pension
• Forever Life
• Immediate Annuity
• Life Time Super

Child Plans

• Education insurance - Smart Kid

Protection Solutions

• Life Guard
• Home Assure

Group Insurance Solutions
ICICI Prudential also offers Group Insurance Solutions for companies seeking to enhance benefits to their employees.

• Group Immediate Annuities
• Group Term Plan
• Group Superannuation Plan
• Group Gratuity Plan

ICICI Lombard General Insurance
ICICI Lombard General Insurance Company Limited is a joint venture between ICICI Bank Limited and Fairfax Financial Holdings Limited. ICICI bank is India's second largest bank; Fairfax is Canada-based, engaged in general insurance, reinsurance, insurance claims management and investment management. ICICI Lombard General Insurance Company commenced its operations in general insurance business in August 2001.

ICICI Lombard is India's number one private insurance company; it is also the first general insurance company to be given certification of ISO 9001:2000. The company provides simple and fast documentation, fast claims settlement, online policy issuance, and comprehensive product line.
It has also been given iAAA rating by ICRA for having highest claims paying ability. In the very first year of operations, it was able to reach financial breakeven and achieve underwriting breakeven in the second year. Security is provided through encryption and it is the first company to provide digitally signed documents. It has been honored as the most Customer Responsive Company by the Economic Times. Times of India has designated it as the Best Housing Insurance in the Smart Living Awards by 360 degrees. It has also been awarded Gold Shield for "Excellence in Financial Reporting". It is among the top three companies to be awarded the "General Insurance Company of the Year" at the 10th Asia Insurance Industry Awards.

Products
Business Solutions

• Industrial All Risk
• Fire and Special Perils
• Electronic Equipment Insurance
• Fidelity Insurance
• Consequential Loss (Fire) Insurance
• Tea Corp Insurance
• Burglary Insurance
• Machinery

Personal Solutions

• Group Personal Accidents
• Health
• Health Insurance

Project Solutions

• Contractors' All Risk
• Contractors' Plant & Machinery
• Erection All Risk
• Performance Guarantee

Liability Solutions

• Director's & Officers Liability
• Product Liability
• Workmen's Compensation
• Event Insurance
• Product Liability

Travel Insurance

• Senior Citizen Overseas Travel
• Individual Overseas Travel
• Corporate Overseas Travel
• Domestic Travel

Birla Sun Life Insurance Company Limited
Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between Aditya Birla Group and Sun Life Financial Inc. BSLI started functioning in March 2001 after getting the certificate of registration from IRDA.

Birla Sun Life Insurance Company Limited introduced unit Linked Life Insurance Solutions in India. Within a short span of time it was able to establish itself as a leading player in the Private Life Insurance Industry. It has been innovative and come up with customer-centric products to provide safety and services. The company has web-enabled IT systems for better customer services and a strong distribution channel which is easily approachable. The company shows corporate governance and a high degree of transparency in all business practices. It has professional knowledge and global expertise of Aditya Birla Group.

Birla Sunlife Insurance has been providing first class financial solutions to its customers and has been amongst the top three private sector life insurance companies.

Its mission is to be amongst the top players in the eyes of customers and the first choice of insurance and retirement solutions to individuals and groups. These innovative solutions are linked with global and technical expertise and are deployed by a multi channel distribution network and enhanced technology.

The company aims at keeping all people associated with it - customers, clients, stakeholders and employees- happy and fully satisfied. It wants to provide value added products and services to the customers, job satisfaction to employees and highest returns to the shareholders.

Qualities like integrity, commitment, passion, and speed are the core values of the company. The products offered by the company are:

Individual Life
Protection

• Premium Back Term Plan
• Birla Sun Life Term Plan

Saving

• Simply Life
• Flexi Save Plus
• Supreme Life
• Life Companion
• Flexi Cash Flow
• Prime Life
• Flexi Save Plus

Children

• Children's Dream Plan

Retirement

• Flexi Secure Life Retirement Plan II

Riders

• Critical Illness Plus Rider
• Term Rider
• Waiver of Premium
• Critical Illness Rider
• Critical Illness - Woman Rider
• Accidental Death and Dismemberment Rider

TATA AIG General Insurance
Tata AIG General Insurance Company Ltd. is a joint venture between Tata Sons and American International Group, Inc. (AIG). The Tata Group is holding 74 per cent stake and the rest 26 percent is held by AIG. The company has got the expertise, knowledge and strength of both the organizations.

Tata AIG General Insurance Company was founded on January 22, 2001. It offers general insurance in various categories, such as automobile, home, personal accident, travel, energy, marine, property and casualty and specialized financial solutions.
Jamsetji Tata founded Tata Group in 1860s. It has an estimated turnover of around US $ 14.25 billion. It has spread its operations in various fields such as steel, power, hotels, airlines, software services, communications, etc. Some of its major projects have been Tata Tea, Tata Steel, Tata Chemicals, Titan, Tanishq, Voltas, Westside and Tata Motors. Its imprints are made on the telecommunication and technology sector. Regarding telecommunications, it is the largest international long distance service provider. Approximately two- third of the equity of Tata Sons is held by a host of national institutions in science and technology, medical services and performing arts. By combining the ethical values with business acumen and fulfilling its commitment to the nation, it has become one of the largest groups in India.

American International Group, Inc. (AIG) is the leading international player in insurance and financial services. Its network spreads across 130 nations. AIG member companies serve all types of customers, be it commercial or individual. AIG is among the leading insurers and the largest underwriter of insurance. Aircraft leasing, financial products and trading are some of the services offered by AIG. AIG has a global expertise of fulfilling the customer-centric needs. It has specialized investment management capabilities in equities, fixed income, alternative investments and real estate. AIG's stock has been listed in the New York Stock Exchange as well as stock exchanges in London, Paris, Switzerland and Tokyo.

The organization caters to individuals, small businesses and corporates. Individual plans include motor, home, accident & health and travel insurance, whereas corporate plans include accident & health, travel, energy, property, marine and liability plans.

New India Assurance Company
Sir Dorab Tata founded New India Assurance Company on 23rd July 1919. It has 1068 offices comprising of 26 regional offices, 393 divisional offices and 648 branches with more than 21,000 employees.It is one of the largest Non- Life insurers in Afro- Asia and the first one to cross Rs. 5,000 crores of Gross Premium. It has a global network expanding in countries like Japan, U.K., Middle East, Fiji and Australia. Its international operations started in 1920 and have spread across 24 countries having a network of 19 branches, 12 agencies, 2 associate companies and 2 subsidiary companies. The company contributes 80% of total overseas premium in India.The company has a highly qualified staff, which excel in both expertise and knowledge and are trained to provide satisfaction to the customers. It is the only company able to establish strong relationships overseas and has a record of successful trading outside India. The performance has been outstanding and the company has been able to maintain a strong position in the market.

It has been the pioneer in various fields such as:

• Setting up an Aviation Insurance Department in 1946.
• Handling the complete insurance requirements of the Indian Shipping Fleet.
• Introduced its own Training School.
• Pioneering the concept of 'Model Office Training'.
• Creating department in Engineering insurance.
• Satellite insurance.

The company wants to develop itself as the best general insurance company in the industry. It is concerned about the society and community, and provides financial security at reasonable prices. The company gives utmost importance to customer needs and there is transparency in its operations. Some of the policies and schemes introduced by the company are:

• Public Liability Policy
• Jewellers Block Policy
• Pravasi Bharatiya Bima Yojana Policy
• Universal Health Insurance Scheme
• Fire Policy

IFFCO Tokio General Insurance
IFFCO Tokio General Insurance is a customer-centric company aiming to be easily accessible and approachable to all sections of society. It offers products and services that provide quality at reasonable cost. The organization has the deep knowledge of IFFCO and thus developed a business plan that has both stability and integrity.

It has set global standards for itself and is the only private general insurance company in India to make 5 consecutive years of experience. ITGI has been one of the few companies to show underwriting profits within four years of operations.
The company focuses on delivering creative solutions to its customers. IFFCO Tokio General Insurance has 273 employees present in 68 cities, dedicated to give full satisfaction to the customers. It is the first company to underwrite mega policies for a fertilizer and automobile client.

The Oriental Insurance Company Ltd.
The Oriental Insurance Company Ltd. (OICL) is one of the general insurance companies under the support of the General Insurance Corporation (GIC) of India. It came into existence in the year 1947 and is one of the oldest organizations in India. It caters to all sections and sectors ranging from MNCs to rural sector. The headquarters of the company are situated at Delhi and it has 21 Regional Offices, 311 Divisional Offices and 635 Branch offices.
It has a team of hard working employees, having the talent to take the company to new heights. Also the company shows concern for both the employees and customers. It provides special covers for large projects like power plants, steel plants and chemical plants.

It believes in actively participating in economic growth by being a dynamic organization catering to the society with full commitment and efficiency. The main objectives of the company are to serve the insurance needs of the entire community, provide services at reasonable cost, make optimum utilization of the funds, maintaining global standards, minimization of losses and retention of business.

HDFC Standard Life Insurance Company Limited
HDFC Standard Life Insurance Company Limited is one of the first companies to be licensed by IRDA to operate in the Insurance sector. The company came into existence on 14th August 2000. Both Crisil and ICRA have honored it with AAA Ratings. Similarly Moody's and Standard and Poors have also honoured it AAA ratings. HDFC holds 81.4% share in HDFC and the remaining 18.6% stake is with Standard Life. It integrates the strong expertise and stability of Standard Life and HDFC.

It is one of the most trusted companies; it is easily accessible and approachable, offering value services to its customers.
The company aims to provide:

• Innovative products to cater to different needs of different customers
• Customer service of the highest order
• Use of technology to improve service standards
• Value for money for customers
• Increasing market share
• Professionalism in carrying out business

The values ingrained in the company are to provide financial security to policyholders, maintain trust and keep innovating to establish it as a unique player.

Jitu Memilih Asuransi Kendaraan

Dadan Kuswaraharja - detikOto

Jakarta - Memilih asuransi untuk melindungi kendaraan dari bahaya tak terduga memang penting. Anda tak selamanya bisa menjamin mobil aman misalnya dari tabrakan, atau pencurian mobil.

Dengan asuransi di tangan, minimal anda dapat mengendarai mobil dengan rasa nyaman kemana pun tujuan anda.

Tentunya untuk memperoleh perlindungan itu, anda harus membayar sejumlah premi yang dibayar dalam jangka waktu tertentu kepada perusahaan asuransi yang anda pilih.

Seperti dikutip ForbesAutos, Selasa (2/12/2008), untuk mengurangi biaya premi yang anda bayar anda bisa melakukan sejumlah trik khusus.

1. Cari perusahaan asuransi yang kredibel. Jangan segan untuk melakukan cross check ke perusahaan asuransi mengenai besaran premi untuk perlindungan yang sama.
2. Pilih mobil yang dilengkapi dengan sistem keamanan seperti anti pencuri, atau sistem anti Lock Brake. Di AS sono, perusahaan asuransi biasanya memberi diskon premi bagi kendaraan yang dilengkapi dengan sistem keamanan seperti ini.
3. Pertahankan kepatuhan anda membayar premi. Perusahaan asuransi akan memberi diskon bagi nasabahnya yang patuh membayar premi.
4. Jika tak ingin premi tinggi, maka hindari mobil yang mahal. Mobil yang mahal biasanya membutuhkan biaya service yang tinggi. Dengan biaya service yang tinggi, perusahaan asuransi akan mengenakan premi yang rendah.

Namun meski anda sudah disodori dengan premi yang rendah, anda jangan terlena, sebab saat ini banyak perusahaan asuransi yang banting harga namun tidak disertai pelayanan dan bengkel resmi yang memadai.

Sebagai pembeli asuransi, anda perlu menerapkan teori teliti sebelum membeli perlu diterapkan, agar anda tak menyesal di kemudian hari.
( ddn / ddn )

Insurance

insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed small loss to prevent a large, possibly devastating loss. An insurer is a company selling the insurance; an insured is the person or entity buying the insurance. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice

Insurance

insurance, in law a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed small loss to prevent a large, possibly devastating loss. An insurer is a company selling the insurance; an insured is the person or entity buying the insurance. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice

Can I Get Insurance With a Pre-Existing Condition?

Having a pre-existing medical condition can make dealing with insurance companies difficult. Because most insurance companies operate on a for-profit basis, they’re not excited about taking on clients that already have built-in risk. Be it diabetes or a heart condition or countless other ailments, these illnesses have a high amount of guaranteed risk that the insurance company is going to have to pay.

What Is a Pre-existing Condition?

Any medical condition you’ve been seeing a doctor for, or have been treated for, is considered a pre-existing condition. Of course, each company has a different definition of what a pre-existing condition is. The period of time you’ve had the condition before beginning the policy also varies, but 6 months prior to the policy start date is standard. Some policies also require a waiting period for a pre-existing condition before they will cover your care, typically 12 months after joining or upgrading to the policy.

Some health problems are excluded in certain instances, such as in travel insurance, so you’ll want to read the fine print in your particular policy. For example, if you have asthma but haven’t had an attack for a year prior to the policy date, you don’t have to worry about it being considered a pre-existing condition. In some cases, diabetes may not be considered a problem either, as long as blood sugar levels are low and no drug treatment is needed.

In any case, most insurance companies will want a medical exam or information to better process your policy application. The companies take risk in insuring you, so they want to know the details about the risk they’re taking when they sign you on. All information they find will be confidential, so there’s no worry about your condition becoming public knowledge.

To Lie, Or Not To Lie…

Unfortunately, if you are looking for insurance of any kind, your pre-existing condition is going to either cause you to be denied or your premium will be sky-high. Even if it’s tempting to not tell the insurance company about your illness, don’t give in. It's important to disclose this information to the insurance company because eventually the company will discover your deceit. Your claim will be unpaid when you need it most, resulting in high medical costs for you or your family. This is more costly in the long run than paying a higher premium for the condition to begin with

So What Can I Do?

There are several things you can do to save on insurance if you have a pre-existing medical condition. First, shop around to find the best policy, and remember cheapest isn’t always best. The cheap policy may not cover certain aspects that you need, costing you more money in the long run.

Next, find a good insurance broker. An insurance broker is a middle-man between you, the consumer, and insurance companies selling policies. He or she can negotiate with several different companies to get you the best policy.

Finally, you can contact a local organization advocating for your medical problem to see if they offer insurance schemes to members. For example, Diabetes Australia has state and local organizations that offer insurance benefits to member

5 Reasons Why Life Insurance Is Important To You

Life Insurance. Doesn't it just conjure up some insurance salesman knocking on your door trying to sell you a policy that covers you for accidents only, for a small amount and costs you the earth? No? It doesn't too me either because those days are long gone!

I prefer to call it "Life Assurance" anyway, because it is assuring you that your life is convered in the event of death and that what your life is insured for, will be paid out to your estate or policy owner.

But how many of you actually have this cover in place? I know of lots of my friends, who are in their 20's who don't have the cover because 1) they don't know anything about (lack of education) and 2) they don't think they need it and see it as an extra cost. How little they know... like anything, the earlier you start, the cheaper it is...

Following are 10 important reasons why YOU should have life assurance and why those around you too should invest in this:

Reason 1

Hello? Do you have any bills, like maybe a mortgage?? This alone is a pertinent reason to have life assurance... it means that should you die, this major bill will be paid off and not left to your survivors to deal with!

Reason 2

Young, fit and healthy? No ailments? Then this is the best time to get life assurance! Your premium will be small and if you take out a policy that allows you to keep the same premium until the age of 65, you will have considerable savings... the earlier you start, the better. And then if you develop any health issues throughout your life, it doesn't matter, because you already have the cover in place!

Reason 3

Are you married? Do you care about your spouse? Then is it not thoughtful to make sure that your spouse does not have to worry about money should you pass before they do and vice versa? I know a couple who cancelled their life insurance and then 6 months later he was diagnosed as having stomach cancer, and died 18 months later... leaving behind a wife and two children still at home and a mortgage... and no monetry relief for his family. Is this what you want to put your partner through?

Reason 4

Want to leave a legacy for your future grand children? What better way then ensuring your estate will actually have some legacy to pass on! You can elect in your will to have the proceeds of your life assurance paid directly to your estate and then as per your will, divy up the proceeds.

Reason 5

Peace of mind... yours that is. If you can't afford health insurance or any other insurance, you can afford life insurance... and should you develop a terminal disease... your life insurance will pay out a lump sum upon confirmation of this, allowing you to fulfil any dreams you have not achieved or to get your affairs in order.

There are many more reasons I could go into here, but you get the gist... just like you wouldn't risk not having your car insured or your house or contents... how can you not insure your number one asset... yourself?

There are plenty of fantastic financial advisers out there. If you don't have one, a great place to start is your bank, they have trained staff that can guide you... just make sure you read through any quotes you receive etc and make sure you understand just what you are being covered for.