Wednesday, December 13, 2006

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Saving Money on Car Insurance Online

When it comes to choosing car insurance, it doesn’t always matter the age of an individual, there are many ways that you could save money when purchasing a policy online no matter what the circumstances.

The most common perk for insurance companies is to offer a certain percentage off the quoted price for ordering online and this is usually around 10% but this may vary depending on the company you want to use.

This is not the only way of saving money and by purchasing online, there are many factors that will be taken into account and this can range from age, no claims bonus and how long you have been driving.

Search the Market

Today, there are many different car insurance companies that promise the earth and the most competitive prices but it is very important to search around for the best deal on the internet.

The best way to do this is to register with different companies who will do the search for you and come back with the best options available based on personal details given. This will give you an idea of what can be offered and there could be savings made by choosing one company over another but never go for the first offer laid on the plate, there will always be something better.

Lowering the Price

It may seem impossible that you would be able to lower the price of car insurance but it is completely true and there are ways of cutting a huge chunk off the original quote. How can you lower the overall cost?

• Fit an Alarm – It is vital and beneficial to have a range of security measures. Like fitting an alarm will deter would be thieves and to an insurance company, it is classed as a lesser risk.

• Higher Excess – It is not said by companies but if you choose to have an initial higher excess in place then this will always lower any insurance claim, the lower the excess means that costs will be increased on the policy.

• Second Driver Claim – Being a driver under 25 can mean higher premiums but if you go under a parent’s insurance, this means that costs could overall be lower. Remember that you need to be completely honest or this could invalidate any claim and you need to remember that a no claims bonus would be available.

• Location Counts – One major factor that companies will take into account is where the car will be parked. Will it be in a garage or on the road? If it is in a garage then like with fitting an alarm it is less of a risk and unlikely that something will happen to your vehicle and will reduce the price. Always park off the road where possible.

These are the main ways you can lower your insurance quote and yes, even though car insurance is compulsory, it can mean that there is less to pay and you can enjoy the freedom of the open road without over the top payments.

Always be prepared to search because as the saying goes, “good things come to those who wait”. There is a great offer waiting for you and by being as money minded as possible, you can obtain a good price without lifting a finger.

Cheap Motor Car Insurance

You know the basics about getting cheap motor car insurance. Drive a safe motor car, and park your motor car in a safe location. Purchase a motor car with anti-lock brakes, air bags, and automatic safety belts. Add certain features to the motor car that might not be present, such as anti-theft systems. Avoid traffic citations and accidents by driving cautiously and obeying the traffic rules, and nurture your driving record. Even purchasing your motor car insurance policy from the same insurance company you purchase another type of insurance policy can help you obtain cheap motor car insurance.

But did you know that making certain changes to your motor car can actually increase your motor car insurance premiums? People who make modifications to their motor cars, such as replacing the engine with one that has more horsepower, adding a spoiler to the motor car, or even changing the color of the motor car sometimes end up paying higher motor car insurance premiums than those people who do not make such modifications.

The drivers who are at the highest risk for having increased motor car insurance premiums due to these types of changes are those drivers who alter motor cars’ appearances as a hobby. While these kinds of motor car modifications may be fun to make and nice to look at, they could end up costing the driver and/or owner of the vehicle more money in the long run.

Think twice before you make any major alternations to your motor car. Unless you have the extra cost to pay the higher motor car insurance premiums, spoilers and flashy paint jobs just aren’t worth the extra dime. Plus, it defeats the purpose of making the extra effort to get cheap motor car insurance – purchasing a safe vehicle, driving in a safe manner, and parking it in a safe place – if you’re just going take on more costs by altering the motor car.

To get free quotes and learn more about insurance please visit the following recommended sites.

Principles of insurance

From the point of view of the insurance company there are four general criteria for deciding whether to insure events or not.

1. There must be a larger number of similar objects so the financial outcome of insuring the pool of exposures is predictable. Therefore they can calculate a "fair" premium.

2. The losses have to be accidental and unintentional from the point of view of the insured.

3. The losses must be measurable, identifiable in location, time, and be definite. They also want the losses to cause economic hardship. That is, so the insured has an incentive to protect and preserve the property to minimize the probability that the losses occur.

4. The loss potential to the insurer must be non-catastrophic. It cannot put the insurance company in financial jeopardy.

Losses must be uncertain.

The rate and distribution of losses must be predictable: To set premiums (prices) insurers must be able to estimate them accurately. This is done using the [[Law of large numbers|Law of Large Numbers]] which states that: The larger the number of '''homogenous''' exposures considered, the more closely the losses reported will equal the underlying probability of loss. If the coverage is unique, the insured will pay a correspondingly higher premium. [[Lloyd's of London]] often accepts unique coverages. (e.g., the insuring of [[Tina Turner]]'s legs and [[Jennifer Lopez]]'s buttocks)

The loss must be significant: The legal principle of ''[[De minimis]]'' dictates that trivial matters are not covered. Furthermore, rational insurance uses existing insurance when the [[transaction costs]] dictate that filing a claim is not rational. Actually, De minimis does not come into play here. The reality is that it costs too much to insure frequent and/or small losses. It is much more cost effective to not transfer small loss potential to insurance companies by taking the largest deductible that you can stand (given adequate price reduction). As for filing small claims, if the insurance company contractually should pay for it, you should file it. This is the difference between deciding before the contract the parameters and after following through.

The loss must not be catastrophic: If the insurer is [[insolvent]], it will be unable to pay the insured. In the United States, there is a system of Guarantee Funds that run at the state level to reimburse insured people whose insurance companies have become insolvent. [] This program is run by the National Association of Insurance Commissioners (NAIC). [] In the United Kingdom, the [[Financial Services Authority]] (FSA), which regulates all insurance companies, has its own standards of solvency which must, by law, be adhered to.

To avoid catastrophic depletion of their own capital, insurers almost universally purchase [[reinsurance]] to protect them against excessively large accumulations of risk in a single area, and to protect them against large-scale catastrophes.

Additionally, “speculative risks” like those incurred through [[gambling]] or through the purchase of company [[stocks]] are uninsurable. Insurable risks should have accidental and not intentional losses, and they should have economical feasible premiums, meaning that chance of loss must not be too high.

Affordable Health Insurance in New York

Many people think by getting a “good job” they’ll have a “good health benefits package.” That is just not always the case. Sometimes we find our dream jobs – great pay, weekends and holidays off, many opportunities to use our skills and advance – only to find out our dream jobs do not offer employer-sponsored health insurance. So, we start looking for individual insurance policies to purchase, but just do not have the money left over after the bills are paid to pay the higher premiums.

It is a vicious cycle, but it can be stopped thanks to New York State’s Family Health Plus. The Family Health Plus plan was created for adults between the ages of 19 and 64 who can’t find affordable health insurance in New York. Maybe their employers don’t offer group health insurance plans, or maybe they can’t afford to purchase an individual health insurance plan on their own. These are the New Yorkers who are considered to have too much money or assets to qualify for Medicaid; at the same time, they make too little money to afford either out-of-pocket health care costs or individual health insurance plans.

The great thing about New York State’s Family Health Plus plan is that you don’t have to have children in order to be eligible. Single adults as well as married couples without children are eligible for the Family Health Plus plan.

Plus, it costs nothing to apply for and enroll in the Family Health Plus plan, nor will you be required to pay deductibles. You will, however, need to pay co-payments at the time of medical treatment.

The Family Health Plus plan offers coverage for, but not limited to, doctor visits, in and out patient care, emergency room visits, vision care, diabetic services, behavioral health services, and even family planning.

For more information about this affordable health insurance in New York, contact the New York State Department of Health.

Affordable Health Insurance in New York