Archive for the ‘Liability Insurance’ Category
February 5th, 2010 | 
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Before you start packing your bags for that much longed-for summer holiday, it would be wise to do a double-check on the terms and conditions of your credit card’s supposed ‘free travel insurance’.
Be warned – full travel insurance and the more common travel accident insurance offered by most credit cards are completely different forms of cover.
Most credit cards offer free Travel Accident Insurance but it is only for very limited cover, so it is just as well to check out exactly what you are covered for well before you leave for the airport.
Dig out your credit card paperwork and check the small print carefully – as I always say, ‘the devil is in the detail’.
Very limited and restricted cover
Travel Accident Insurance is a largely meaningless form of insurance and provides very limited and restrictive cover, in spite of the liberal use of the term ‘travel insurance’. It is like chalk and cheese compared to genuine travel insurance.
If ever there was a real contradiction in terms, this is it.
For instance, it offers little or no cover prior to your journey for such events as lost property, missed departures or travel delays and cancellations through no fault of your own.
Surprisingly, you will not be covered at the other end either.
Planes, trains and automobiles
The much-vaunted and free Travel Accident Insurance punted by credit cards is purely designed to insure you while you are actually en route to your destination, whether by bus, taxi, train or plane.
You will certainly want wider cover than that.
Even worse, the cover is really limited and you may find your credit card company will only pay out for a major accident such as death, permanent disability or the loss of an eye or limb.
Should you find on closer investigation that your cover is likely to be inadequate for your planned holiday; your first priority should be to look around for a comprehensive travel insurance plan from a dedicated travel insurance provider.
This should at the very least insure you for repatriation, personal liability, lost possessions, legal charges and medical expenses.
Be proactive and forearmed so you are not taken by surprise if the worst should happen.
Full holiday travel insurance
You may be wondering if there is a credit card that offers free comprehensive travel insurance.
The short answer is ‘Yes’!
Barclaycard is one credit card company who offer comprehensive travel insurance for holidaymakers booking through one of their tour operators, on condition that you pay for the holiday using a Barclaycard credit card.
Before going ahead and booking, it is important to weigh up the insurance benefits the credit cards claim to offer and take a good look too at the small print to check that the benefits are really as good as advertised.
To summarise, a credit card which gives you comprehensive and unrestricted insurance coverage is almost always better than a card which offers Travel Accident insurance only.
Shirley Stevens
http://www.articlesbase.com/credit-articles/the-big-con-about-your-credit-cards-free-travel-Insurance-495709.html
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A growing coalition, called Minnesotans Against Fraud and Higher Insurance Costs is working to convince the Legislature to reject these ill-conceived bills. Minnesotans Against Fraud and Higher Insurance Costs is a broad-based coalition of consumers and taxpayers, businesses and civic groups. The group aims to send a strong message to the Legislature that consumers deserve to be protected from fraud, higher insurance costs and frivolous lawsuits. These Double Lawsuit bills were written by personal injury lawyers for the sole benefit of personal injury lawyers. If passed, these bills will result in a massive increase in the number of lawsuits filed, drastically increase costs for consumers and their insurance companies and give personal injury attorneys double the chance to win big fees on a single case. The consequences of these bills are far reaching and will affect every policyholder in Minnesota causing higher costs for virtually ALL lines of insurance, including auto, homeowners, general liability, etc. Good drivers will be punished as their insurance rates rise, even if no claim is filed. In fact, when similar law was in effect in California (it was later reversed by the California Supreme Court and then rejected by voters), a California study showed that these types of laws can drive up Auto Insurance premiums as much as 14.5 percent. Homeowners will face higher costs and an increased threat of lawsuits for such a thing as an accident on their property.
A very common example that can happen anytime that can initiate double lawsuit bills:
You are a homeowner and a neighbor is invited onto your property and slips and injures themselves. That neighbor might then hire a personal injury attorney to sue you for damages. Your insurance company steps in to assess the injury and may offer to cover the medical bills for the injured party as well as pay for pain and suffering.
However, under these proposed laws, instead of accepting the settlement, the other party’s attorney sees an opportunity to get more money and they file two separate lawsuits (one against you and another one against your insurance company) costing far more than what the insurance company deemed to be fair based on its investigation. These extremely costly, multiple lawsuits provide powerful incentives for filing frivolous lawsuits or fraudulent claims. The only real benefit goes to the lawyers who stand to gain much higher attorney fees.
Virtually every Insurance policyholder in Minnesota will suffer the negative consequences of these self-serving bills. Written by personal injury lawyers to benefit themselves, these laws would allow two separate lawsuits for a single claim. The lawyers behind or supporting these bills stand to make millions of dollars by threatening to file multiple lawsuits, forcing consumers and their insurance companies into huge out-of-court settlements to avoid lengthy and expensive litigation.
This will drastically raise insurance costs for everyone and increase the number of lawsuits filed in our already strained court system. Minnesota consumers deserve better and should demand that legislators reject these bills.
To get involved, please visit our website at www.nohigherrates.com
Paulxty
http://www.articlesbase.com/national,-state,-local-articles/minnesotans-against-fraud-and-higher-insurance-costs-129284.html
Most teens looking into Car Insurance may be finding that the rates for car Insurance for teens can be quite high. However, despite the rates being generally higher, it is still possible to find cheap car insurance for teens- you just have to know where to look.
Car insurance for teens is designed to protect teenage drivers specifically. It differs from other insurance policies only in the fact that it usually has a higher interest rate. So just why is this?
Teenage drivers are inexperienced. They may have passed their test, but they are still new to driving. To an insurer this means that the likelihood of them having an accident is quite high. Now you could argue that anybody no matter what their age who just passes their driving test is a liability. However statistically that is not the case and that is what insurers look at.
Teenage drivers are twice as likely to have an accident within their first year of driving, than a driver over the age of 25. There are a number of reasons for this. The main one is that teenagers do tend to drive faster and are a little more recklessly. Passing your test gives you freedom and it can be exciting driving along as fast as possible whilst listening to the car stereo. Not all teenage drivers will do this, but statistically that is what insurers find. So because teenagers are statistically more likely to have an accident, teen car insurance is often fairly expensive.
What You Can Do To Get Cheap Car Insurance for Teens?
Apart from higher rates, you still have the same options as any other driver when it comes to car insurance policy. You can choose to take out basic third party insurance, or you could add additional extras if you would prefer. For example, would you like to be protected in case your car gets stolen? You may automatically assume that this protection is included in your car insurance policy. However a lot of the time it isn’t and you will need to read through your terms and conditions to see what is actually included in your policy.
There are some things that you can do to get cheap teen car insurance and that includes purchasing an older car. Your first car should never be anything too fancy or sporty; otherwise you will have to pay a fortune on insurance. So choose a sensible car until you can build up a no claims bonus. Then once you have been driving for a while, purchase a newer car and your insurance will not be through the roof.
Overall car insurance for teens can be expensive. If you look around however you should be able to find a few good deals to suit you. Remember that there are things that you can do to lower your insurance quote too. So even if you are a teenager, you can make certain changes that will lower your insurance rate.
Maria Mbura
http://www.articlesbase.com/insurance-articles/your-tips-to-cheap-car-insurance-for-teens-453602.html