Auto Insurance - Money Saving Tips

If you bought a car and drive it then not having any car insurance is really not an option. In the majority of states you are required by the law to purchase the minimum amount of liability coverage and you should even probably have more than the minimum if you want enough protection. I have several tips you can use to reduce your auto insurance costs without having to discard your policy.

#1 Keep track of your credit report

Credit history is a very large important factor for most auto insurance companies. Many reports from studies show a relation between somebodies credit history and the risk an insurance company puts on you. So pay your bills on time and keep a good credit history will most likely help you in keeping lower car insurance rates

#2 Try not to use the car for business related purposes

This relates to not driving as often, since driving to your job usually subjects you to more time that an accident can happen within thus increasing your risk to the insurer. You may find it is in your best interest to refrain from using your care for business purposes.

#3 Don't a buy high profile car

Cars are also rated on a risk based scale for auto insurance reasons. High performance and sports cars, and other flashy automobiles are instantly labeled for their higher risk because the owner is more likely to drive irresponsibly and they are bigger targets for people to vandalize them and thieves. If you're an owner of such a car you will most likely pay higher premiums than if you owned a Honda Civic. Stick with low profile cars, they will get you from point A to point B just as easily as a car priced at $300,000.

My name is Brock Samson and you can save money just like I did from these tips. Choose a reputable company, not all insurance companies offer the same quality of services. Here is a web site where you can get an auto insurance quote completely free, http://www.autoinsurequotes.info . It is absolutely critical and crucial that you do your homework on auto insurance companies through getting quotes before signing up with any company.

Using Auto Insurance Quote Websites

With all the information you would ever need now available on the Internet, looking for car insurance quotes has been easy for the common man. An Internet connection and computer is all you need and with just a few clicks on the keyboard, you can be comparing quotes in minutes. This makes it truly convenient for everyone as it saves you the time of going to the insurance agent's office or calling them up one by one. There are plenty of resources when it comes to car insurance rates, and Web sites offer all kinds of quotes and options for your perusal. You only need to go to a particular insurer's Web site and on to another, and you would have various policies that you can choose from.

There are also Web sites wherein they already provide you with the quotes from different companies all in one page. Web sites like these will not only save you time from filling out forms (since you only have to do it once here) but also from doing the search one by one and then comparing it by using a Word document. If you are pressed for time and need the car insurance rates right away, this is the best way to do it.

When using these sites, it would be faster if you already have your information ready beforehand. Make sure that you know what the make and model of your car is, as well as your Social Security number. The SSN of everyone who uses your vehicle might be required, too, and also, you would need to have knowledge of what type of coverage you require.

It would be useful also to know that in order for you to get an accurate quote, you would need to supply your information as completely as you can. The insurers will double-check your records so make sure to report everything there is to report (driving accidents, violations, etc.). Not reporting these Incidents may give cause to car insurance companies to raise your premium quote. Other auto insurance groups also run a credit check so this could be a factor in determining your rate as well.

Another thing to consider when getting car insurance quotes is that some companies provide you with more coverage than you actually need. It would be best to ask what coverage is required by the law and what are the requirements for your state. You can also check out other Web sites for this so that you know you are being quoted only what you need. Some states do not require motorist protection so it would be a good idea to check on these laws first.

There are a lot of car insurance quote Web sites out there, and they will definitely make your life easier. for you. With the tips we provided above, you can get an accurate quotation which will save you time from confirming it by calling the insurance companies themselves. Also, you may opt to be contacted by the companies depending on your method of choice. They can call you or send you an email -- all depending on how soon you want to get an answer. This helps you by giving you more time to reach an informed decision as insurance rates do change from time to time.

Are you looking to get a lower DUI insurance rate? I can help you too. Stop by my site today for help with finding DUI Insurance and get a free online rate quote today. We also can help you find Cheap Gas in your area visit our sites today 1cheapgas.com/ and duiinsurancerate.com

Cheap Car Insurance For Multiple Vehicles

Many of us have more than one vehicle in our household - whether it's a car each for you and your spouse, or two or more vehicles that you use personally such as a convertible car that you drive in the summer and a conventional vehicle for more practical daily use. With several vehicles in the household however, is it possible to save money on car insurance by combining them under one policy?

The simple answer is "yes" or at least in theory - thanks to a policy type known as multi-car insurance.

Multi-car insurance is offered by an increasing number of UK providers including Admiral and Norwich Union. Some policies will allow you to insure up to five cars in one go - as long as they are registered to the same address. This means you could have a car each for your spouse, children or even a friend insured under the same policy as long as you all live together.

These policies can potentially save you money because you are effectively buying insurance in bulk. This loyalty is rewarded through cheaper premiums.

If you do opt for multi-car insurance then there are some important factors to consider:

- Monthly payments - Renewal dates could be linked together which could make annual payments expensive. So ensure you have the option to pay monthly.

- Named drivers - Are you allowed to drive more than one vehicle insured under the policy or only those you are a registered named driver for?

- No-claims discount - If one of you is involved in an accident do all of the drivers on the policy lose their no-claims bonus or just the individual who makes the claim?

- Policy options - Ensure the policy options you choose are right for everyone.

Though multi-car insurance could save you money it's still worth using a car insurance comparison website to see if you could find cheap car insurance by insuring the vehicles individually.

Tips to Slash Car Insurance Costs For New Year

January is the month in which many of us are motivated to get our finances in order. If you're one of those people then use these five tips as a simple checklist to ensure you've taken every step you can to drive your car insurance costs down.

- Tip one: Check your policy - Ensure you're not paying for policy options you don't really want or need. For example are there named drivers on your policy that no longer use the car? Are you paying for business use of the car when you only use it for commuting and domestic use?

- Tip two: Declare your security steps - Have you added a car alarm or immobiliser to your vehicle to reduce the chance of theft? Do you park in a garage overnight rather than on the street and do you use a well-lit secured parking area during the day? If so, then make sure your car insurance provider has been informed as discounts may be available.

- Tip three: Provide accurate personal details - If you've changed your job, address, or any other personal circumstances then make sure your car insurance provider has been informed. It could be that your new job is deemed less of a risk than your previous employment - perhaps because you drive fewer miles - or that your new address is in an area with lower crime. Getting married too could save you money on your car insurance as you will be deemed a more responsible driver. So if your circumstances have changed, let your car insurance provider know.

- Tip four: Assess your excess - The higher your voluntary excess is, the lower your premiums will be. So think about what you could comfortably afford in the event of an accident and adjust your policy accordingly.

- Tip five: Analyse the market - Make sure you compare car insurance policies from other providers whenever your renewal date is close.

Most car insurance companies offer their best deals to new customers so consider taking advantage of these deals by switching.

Cheap Car Insurance For Imported Cars

Many of us choose to import cars because retail prices nationally are so high. However, the money saved on buying a car from overseas can quickly be negated by high car insurance costs unless you are careful.

Imported cars such as the Toyota Estima, Eunos Roadster and Mitsubishi Pajero are often deemed more of a risk to insurers because the car insurance companies are not necessarily familiar with the vehicles in question. Their parts may be more difficult to find, repair costs may be higher and they may not be well-suited to UK roads. All of this mounts up to more risk for the insurer and higher premiums for the consumer.

High car insurance costs particularly apply to grey imports. These are vehicles that have not been built to European standard and are not EU approved. As such it's normally worth finding a car insurance quote before you buy the vehicle outright as costs can be derisory. Parallel imports - vehicles with right-hand drive that are bought outside the UK - carry less risk as they are normally built to UK standards and finding car insurance cover should be more straightforward.

So how can you find cheap car insurance for grey imports and parallel imports?

The first step is to ensure you're getting a thorough overview of the market. Several mainstream insurers offer specialist imported car coverage so use a comparison website to compare deals. Also shop around on the web for specialist insurers that may offer unique policy options that are better suited to your vehicle type.

Make sure the modifications to the vehicle are limited. If you simply want a cheaper car from overseas then pick a right-hand drive car with no additional changes - the more modifications that are made, the higher your premiums are likely to be.

Ask a prospective car insurance provider about discounts too. Security is often seen as a crucial feature for imported cars and you may enjoy cheap car insurance if you can fit a Thatcham security device or other approved alarm or tracker system to the vehicle.

Income Protection Insurance Can Ease Financial Stress

Losing your income can cause a great deal of financial stress. Accidents can happen at anytime and depending on the type of accident you could find yourself having to take several weeks or even months off from work. While your employer might pay sick pay in many cases this is nothing compared to the income you are used to bringing in. The same would apply to if you came down with an illness that kept you from earning your own living or if you lost your job entirely due to redundancy. Income protection insurance could ease your financial stress by providing you with a replacement income.

The replacement income you received from your policy would provide you with the sum you insured against when taking out the cover. Providers will ask you how much of your income you want to protect, up to a certain amount each month. The premium charged will reflect this along with your age when applying. Standalone providers offer the cheapest premiums and you need to shop around and compare quotes as they do differ greatly. You also need to get as much information as possible regarding the policy you are considering taking out. The terms and conditions will state any exclusions that need to be met along with when the cover would begin and end.

All income protection insurance policies will only payout for so long once they have started. Your policy could begin after you have been unemployed or incapacitated for just 30 days. However some policies will state that you have to wait as long as 90 days before being able to claim. The terms and conditions also vary with how long; some policies will pay out each month for 12 months while with others you might get a payment each month for 24 months.

An income protection policy would provide you with the income to ensure that you would be able to carry on with the commitment of your mortgage. You have to ensure that you are able to maintain your mortgage because if not you could be looking at having it repossessed by the lender. You would only have to miss one repayment and you would be breaking the contract you signed with your lender. If you cannot come to an agreement to catch up on what you owe, then your lender will have to start legal proceedings. The income provided by income protection would mean that you would have the money in the bank when it was needed and not have to fear about getting into arrears.

Of course you would also be able to pay your other outgoings with your income protection insurance which could include loan repayments. Being able to maintain the commitments of your loan would mean that at the very least you would get a mark on your credit rating. This could make getting a loan in the future extremely hard and might even mean that you have to take on a bad credit loan which comes with higher interest rates. You would be able to relax and concentrate on getting well or going out and finding work again knowing that at least your financial commitments are taken care of.

Consider Unemployment Insurance to Provide an Income

Unemployment insurance can be a very valuable asset to have in your corner if you should find yourself without an income to fall back on each month. If you lost your income you would perhaps have to juggle around with the little money you had coming in. You might even have to risk missing a couple of payments and then you could really be struggling to catch up.

Unemployment can happen for many reasons, redundancy is a common occurrence and if you have payments to make each month such as mortgage, loan or credit card then how would you manage if you were out of work for many weeks or months. Jobs can be hard to come by and they can be even harder when looking for one that meets your salary and expertise. You would not want to be worried about your bills while you were out looking for work as this could impede your search. Unemployment insurance would allow you peace of mind during your search for work so you could concentrate. There are different forms of insurance to choose from to guard against unemployment depending on your circumstances; you can get cover for a loan, mortgage or your income.

If you are worried about where to find the money to continue paying your mortgage then you need to think about mortgage payment protection. A policy can be taken out just for unemployment or you can choose to pay more to cover accident, sickness and unemployment together. The premium for a policy would be based on the amount of your income that you want to protect each month and how much of your monthly mortgage repayment you wish to protect. Once you had cover behind you if you become unemployed you would have to wait for so many days before being able to claim. Some providers ask you wait for around 30 days while with others it can be as much as the 90th day. Upon commencement of the policy you would then have an income each month that was tax-fee for a certain length of time before the policy would end. Some providers offer a policy that would run for 12 months. Others could offer protection for 24 months.

For those who worry about loan payments each month or credit card repayments then loan payment protection could provide them with the money needed to be able to continue meeting their outgoings. A policy could be taken out to cover the amount that you pay for your repayments each month and this would be the sum you would get. If you wanted to protect up to so much of your own income each month then income payment protection taken as unemployment insurance would allow you a replacement income. You are able to use this to pay your mortgage, loan, credit card and other essential outgoings each month. You would also be able to pay bills that come into the home on a regular basis such as the grocery bill, heating, lighting, water and council tax bills.

Mortgage Protection Can Ensure the Roof Remains Over Your Head

If you want to ensure that the roof remains over your head if you lose your income then you should consider taking out mortgage protection. With a standalone independent provider you are able to take care of your mortgage repayments as you would if working. Mortgage cover can be taken out to suit your circumstances, which means cover is very affordable. You could take cover to guard against accident, sickness and unemployment together, for accident and sickness only or to protect against all three possibilities. The premium charged for cover is also dependent on the amount you wish to cover each month of your mortgage, and how old you are when applying for it.

Choosing to shop around independently with a specialist who offers payment protection is the cheapest way to take out mortgage protection. With an independent in payment protection you are able to compare quotes for cover and along with this compare the conditions of the small print. The small print is an important part of the policy and it is essential that you read it because different providers add in different things. For example there are always conditions which have to be met for you to be able to claim on the cover such as working full time and living on the UK, Channel Isles or Isle of Man. The conditions are also where you can find such as how long you have to be unemployed or incapacitated before you can put in a claim.

Some providers will begin to supply you with an income once you have been unable to work or have become unemployed for a minimum of 30 days. Others however will ask that you wait at least 90 days. When your policy begins to payout it will do so for so for a period of time which varies depending on the provider. Some providers will continue to provide you with an income each month for 12 months. Others will offer 24 months cover with a payment each month. Some policies are backdated to the first day of you becoming unemployed or incapacitated, while others might not.

Since the 2005 investigation into payment protection began faith in the protection has been lost. However it needn't be if you look into taking a policy with someone specialising in offering mortgage protection. The majority of problems associated with payment protection occurred through high street lenders selling cover in with the loan. Often the protection was added in and then interest was factored in on top, which often boosted up the cost of borrowing drastically. The Financial Services Authority handed out fines to several names on the high street for mis-selling payment protection; mortgage cover is just one form. The Competition Commission is also conducting an in-depth enquiry and one of the changes that could be seen in the future is price capping. This would mean that the high street lender would no longer be raking in £4 billion in profits each year by add in expensive protection as there would be a limit on it.

Replace Your Income With Income Insurance

Losing your income suddenly if you found yourself unable to work after falling sick or if you had an accident that meant you had to take time from work would be devastating. You could be left with a serious struggle on your hands to carry on paying your essential outgoings. One of your biggest worries of course would be how you would be able to continue meeting your mortgage, and income insurance would provide you with a replacement income to stop that worry. However it would also allow you to pay all your other essential outgoings and save you from having to juggle around your bills each month with the little bit of money you do have.

Knowing that you had the money in the bank each month for the direct debit for your mortgage would give great peace of mind. Falling into arrears with your mortgage is a nightmare that every homeowner faces. Just a couple of missed repayments would mean that you would have to catch up on the arrears while at the same time continuing to pay the mortgage. If you cannot make amends then the lender would have no option but to seek repossession of your home. Of course this is the worst case scenario but it does and has happened to thousands of homeowners in the past. Income protection would be able to put this worry far from your mind and would allow you to concentrate on getting better or would allow you to find work.

There are many more reasons why taking income protection is essential. You would be able to continue covering any loan or credit card repayments you have each month so you would not find yourself getting into debt. It can be so much harder to get out of debt and it can spiral out of control, again your protection policy would be able to stop worries such as these.

The cost of income insurance will vary depending on the provider so it is essential to shop around and compare the cost of a policy. Independent providers will supply you with a quote based on your age when applying and the amount of your income that you wish to cover. You would then pay the premium each month and if you were to find yourself unemployed or unable to work you would then be able to claim.

You need to check the terms and conditions of the policy before taking it out as these too differ. Some providers will offer income protection that would begin to provide you with your replacement income after only 30 days. Other providers might ask that you sustain from putting in your claim until as much as the 90th day. Income insurance would supply you with the benefit for so long before expiring; usually you will receive an income each month for a period of either 12 or 24 months. This is usually more than enough time for you to be able to make a recovery and get back to work or to attend interviews and find work.

Income Payment Protection, Choose a Policy Independently

By shopping around for your income payment protection you are able to save money on the cover and get the information needed to be able to decide if this type of protection is suitable. There is another type of protection that has a similar name and it is important not to get the two confused as they cover different things.

Income payment protection would provide you with a short term income, usually between 12 and 24 months if you are made redundant or are unable to work after suffering an illness or an accident. When taking out a policy you would have to wait a certain length of time before you would be able to put in a claim and the policy would begin to payout. This would be down to the provider of the policy but it is usually in the range of 30 and 90 days.

The similar named policy is income protection insurance, and this would pay out for up to retirement age if need be. However this type of policy would only pay out in the case of suffering an illness or an accident that meant you could not work. It would not safeguard against the possibility that you could become unemployed by such as redundancy.

Covering your monthly income would allow you to continue living your lifestyle as you did when you were earning an income. It would be there so that you could continue with your mortgage repayments. Your mortgage is the first payment that has to be maintained if you want to keep the roof over your head. Just one missed repayment is enough to have the lender wanting to see you and wanting to know when you are going to be able to catch up on the arrears. Of course if you do not have an income coming in it would be impossible to be able to come to an agreement with your lender. Another missed mortgage repayment and you are looking at the lender seeking repossession and a court appearance.

Another important outgoing you will have to be able to keep up with is any loan or credit card repayments each month. It is important to keep up with these as by missing a repayment you will have a bad mark against your credit file. This might not be the only problem you encounter by missing loan repayments. The lender could take you to court and a judge might send in bailiffs to take your possessions and you could get a County Court Judgement against you. Even if you manage to get on the straight and narrow again it could take many years to bring your credit file back to good order and during this time getting approved for a loan could be hard. With income payment protection behind you there would be no worrying or juggling with figures. You would be able to relax knowing your finances are in order when it comes to paying out bills at the end of the month.

Three Policies For Unemployment Protection

Protecting against unemployment by such as redundancy does not have to be expensive if you shop around for your policy with independent payment protection specialists. A specialist will offer the cheapest premiums possible based for unemployment protection based on how much of your repayments you wish to protect each month and your age. Depending on what you wish to cover will depend on the type of protection you will need.

You are able to take out a policy based on your age with some providers and this means that even first time buyers with huge mortgages to be able to afford to protect them. The cost does fluctuate between providers so it is essential that you do shop around for your protection and compare not only the premiums but also the conditions.

The conditions tell you when a policy pays out and for how long. Some providers will start to give you an income once you have been unemployed for 30 continuous days. With others it can be up to the 90th day and then you are able to put in your claim. A policy might give you your mortgage payment for 12 months or you could receive a payment each month for 24 months. You also have to check the conditions for any exclusions that could apply to the cover. There are always some exclusions in a policy and the amount depends on the provider.

If you want peace of mind that your mortgage repayments would be safe then you can choose to take out mortgage payment protection. A policy would give you the income needed to be able to continue meeting the requirements of your mortgage each month without worry. You would have no fear of getting into arrears with the mortgage and so no worry of having the lender on your back and possibly seeking to take possession of your home. You have only to miss one of your mortgage repayments and the lender could start repossession proceedings, particularly if you cannot show when you would be able to pick up the repayments and pay off the arrears. A mortgage policy staves this off.

Unemployment protection can also be taken out in the form of loan payment protection. This would give you the same benefits as mortgage payment protection but the policy would payout an income to cover any loan or credit card repayments that you have to make. You would be able to maintain your credit score and also not have to worry about the possibility of being taken to court.

If you want to safeguard your income on the whole then you can choose to protect your income with unemployment protection. You are able to take out a policy for up to a certain amount of your income each month. If you then become unemployed you can claim this amount each month. With the sum of money you received you would be able to pay your mortgage, loan, credit cards or any other bills that you have coming into the house on a regular basis.

Unemployment Cover Can Provide an Income to Replace a Lost One

How would you manage to pay your essential outgoings if you should suffer from a lost income? Do you have any form of a backup plan on which to fall back? Many people never give a thought to where they would get the money needed or assume that they would be able to claim help from the State. Some consider using savings as a way of getting by, however if you had to rely on either of these then you could be let down. The only real way of being sure that you would have the income needed would be to take out unemployment cover.

You have to take into account that you could be unable to find a job for many months and if you were relying on savings they could soon dwindle away. Not only would you have to pay your mortgage and such commitments as loans, but you would also have to put food on the table, pay your water bill, heating and lighting bills and anything else that came your way. Relying on the State could be just as futile, you need to be eligible to claim to begin with and then you could be waiting for several months before you are provided with benefit. The money you were entitled too receive would depend on several factors and it might not be enough for you to be able to maintain your lifestyle and bills. If looking for help from the State for your mortgage then you would only get help for the interest part of the mortgage and up to a certain amount.

Unemployment cover can be taken out to protect your own income. You are able to take income payment protection to insure up to so much of your own income each month in case of unemployment. If you then become unemployed you could have to stand to so many days and then you are able to claim on the policy. Once it has started to payout it would continue to do so for a certain time and the stop. Usually it is somewhere between 30 and 90 days before you are able to claim and then continues for between 12 and 24 months. With the policy you can maintain your mortgage, loan, credit card repayments and all other essential outgoings. You would not have to be worrying where to find the much needed money or worry about getting into debt.

Unemployment protection can also be taken out as mortgage insurance with the sole intention of paying your mortgage each month. You would not get into arrears or be worrying about having your home repossessed if you got behind. If you did get behind you could really struggle to catch up on the arrears and this would be listed on your credit score.

Loan protection can also be considered by those who have the commitment of a loan each month, this also includes such as credit card borrowings. You would be able to take unemployment cover for the amount that you pay out each month, up to a certain amount and then use this to continue paying each month. You would not get into debt so it would not spiral nor have the lender threatening court proceedings.

Redundancy Insurance Provides Peace of Mind While You Find Work

Redundancy insurance could be your lifeline by providing you with an income to replace your lost one if you should lose your own income due to being made unemployed. Redundancies frequently happen and they can happen from out of nowhere. If it happens to you then you could have problems finding the income to pay your mortgage, general outgoings and any loan repayments that you have to make each month. By taking out a policy with a standalone provider you are able to ensure that you would an income coming in each month.

What you chose to insure would depend on what you have to payout each month. If you have mortgage repayments to make then consider mortgage payment protection. If you are worried about maintaining loans then choose to cover the repayments against unemployment with loan payment protection. If you want to make sure that you would have the money to service all your general outgoings including mortgage and loans, then look at taking out income payment protection.

All policies work on the same principal. You go with a standalone specialist provider and get a quote which is based on your age at the time and how much of your repayments you wish to cover. This amount is how much your repayments are each month up to a certain amount. The sum you insure against is the amount you would be given if you were to claim on the policy. This income would come to you as a tax-free sum and you could use it to pay the repayments you had covered.

Redundancy insurance would begin to payout once you had been unemployed for a certain time on a continual basis. Some providers ask that you remain unemployed for at least 30 days and with others it can be 90 days and then you are able to put in your claim. When starting to payout you would then get the income every month for a certain time. Providers usually offer policies that will run for 12 months while others can offer protection to payout for 24 months. You are able to find out the terms of any cover you are considering taking out by checking out the small print. All providers should also offer plenty of information and advice regarding the policies they sell so you can be sure which policy is suitable for your needs.

Keeping up with your mortgage repayments even while unemployed is essential. If you just fall behind on your mortgage by a single payment your lender will get in touch with you. If you cannot show that your financial problems are only in the short term and mortgage problems persist then the lender will have no choice but to start proceedings against you. Mortgage redundancy insurance can put an end to all your mortgage worries which allows you to go out and search for work. The same would apply to loans as you would not fall behind into debt and of course if you had your income covered you would not be worrying about everyday bills.

Why You Should Consider Mortgage Protection Insurance

If you have a mortgage then you need to consider protecting the repayments with mortgage protection insurance. A policy can make a huge difference to your financial situation if you cannot earn an income. With it you would be assured of having the money needed for your mortgage repayment when it was due, without it and you could find yourself getting into arrears.

You only have to miss one repayment of your mortgage and the lender will be in touch. Continue to miss them and the lender could start proceedings to take your home through repossession. Even if you can catch up on the arrears it would probably put a severe strain on your finances and of course a missed payment means you have a bad mark on your credit file.

Mortgage protection insurance can be taken out to protect against you being unemployed, or if you have an accident or illness that means you are unable to work. However you might not need full cover. Depending on your circumstances you might just need to take a policy for unemployment. You can also take out protection just for accident and sickness.

All providers will have different terms and conditions as to when the cover would begin to payout and for how long it would last. Some providers will pay an income on your policy after just 30 days of unemployment or of being incapacitated. Some providers could state in their policy that you have to wait for up to 90 days and some will backdate cover to the first day of redundancy or of you being unable to work. Once the policy has begun to payout it would continue to do so for between 12 and 24 months and then it would stop. However this should be enough time in the majority of instances for you to be able to make a recovery or find work again.

Homeowners that consider falling back onto State benefits if they lose their income could find this a let down and their home at risk. State help can be found but there are many conditions that have to be met before you can claim for benefit. When asking for help with the mortgage even if you are eligible you might have to wait for many months before you would see any benefit. Even then the money you would get would only go towards the interest on the mortgage not the capitol. Relying on savings as a form of safety net could be just as bad. Your savings would only last for so long and if you remained unemployed or incapacitated for many months you could see them run dry.

You do have to check that mortgage protection insurance is suitable for your needs when applying for the policy. However if you go with a specialist in payment protection they will provide you with all the information you need for you to be able to decide. Once you have checked the terms and conditions you would then have a safety net on which to fall which leaves you able to concentrate on finding work or making a recovery.

Cover Your Home With Mortgage Payment Protection Insurance

It does not matter how long you are into paying your mortgage, if you cannot keep it up then you are at risk of losing your home. You could have paid faultlessly for 10 years and then have to take time off from work after becoming ill or suffering from an accident. You could perhaps have been made redundant and so have lost your income altogether. In just a few months you could lose what you have built up if the lender chooses to take you to court for repossession. You can however choose to protect against the unknown with mortgage payment protection insurance.

By covering your monthly mortgage repayments you would not have to give a thought to juggling payments around or even worry about finding the money when the mortgage was due. You would have an income to fall back on that is tax-free. This would be the sum of money that you insured against when taking out the policy. Your premium would take this into account along with your age and the level of cover you wanted for your mortgage. You would be able to go out and look for work again with complete peace of mind that your mortgage is being taken care of.

Mortgage payment protection insurance can be taken out to suit your personal circumstances. You might want to cover against accident, sickness and unemployment together. However you could only want to safeguard against the fact that you might become ill or suffer an accident. You could decide you only need protection against unemployment only and with a specialist provider you can just protect against this.

When you take out the mortgage with the lender on the high street they will usually try and talk you into taking out protection for the loan. Never fall into the trap of thinking that because they gave you the cheapest rate of interest on the mortgage that they will give you the lowest protection policy. In the majority of cases adding payment protection onto the cost of borrowing can boost up the loan considerably. In some cases the protection is calculated over the entire mortgage and then added onto the borrowing and then interest is added on top.

Shopping around for your mortgage payment protection insurance is essential as this is the only way to compare quotes and the terms and conditions. It is the only way to get the cheapest premiums, and the savings can be huge. You do have to compare the conditions of the cover as these tell you when your policy would begin to payout and when it would end. All cover pays out for a fixed period only and then expires. Usually you can find a policy that either pays for 12 or 24 months. Providers also ask you to wait a period of time before you are able to begin claiming on the policy, this can be between 30 and 90 days. However check the small print as some providers will back date to the first date of unemployment or of being incapacitated.

Mortgage Insurance Provides a Replacement Income If You Lose Your Own

Mortgage insurance is a versatile payment protection product that would provide an income allowing you to cover your mortgage repayments. You are able to take cover for a fixed sum each month and if you should lose your own income you would be able to fall back on your policy.

The cost of mortgage payment protection depends on the provider and it is essential to shop around with independent providers if you want the cheapest premiums. Usually when taking out a mortgage the lender will ask if you want to add cover onto the loan. While the lender might have been able to get you a great deal on your mortgage with the cheapest rates of interest, this does not mean that you will be given the best deal on protection for the borrowing. Far from it, usually high street lenders charge way over the odds for payment protection which brings in around £4 billion every year in profits. A far better way to take out protection is to take it with someone who specialises in payment protection.

Standalone providers will give you a quote for the protection which is based on the amount of your mortgage repayments you wish to protect. Also your age will be taken into account and the level of protection that you need. You can choose to take out mortgage cover as accident, sickness and unemployment insurance but you might not need full cover. You could just want to protect against being unemployed through no reason of your own. You might also just want to take out protection against accident and sickness. Age based mortgage insurance is great for the younger first time buyer who often stretch their budget to the maximum. The younger you are the cheaper you can get your mortgage protection.

It is essential to check the conditions of the policy as they differ with providers. You could find a provider offering a policy that would cover you for a maximum of 12 months. However some providers will extend this for up to 24 months. You also have to wait a period of time before the provider will begin to pay on your policy. Some will ask that you are out of work due to unemployment, accident or sickness for 30 continuous days, while others will ask you to wait a period of up to 90 days.

Mortgage insurance would provide a great deal of peace of mind with the tax-free income you would receive. This would allow you to concentrate on getting fit and well or it would allow you to search around and find another job. You would not have to apply for State benefits and wait many months to see any money, even if you were entitled to benefit. Any benefit you would receive from the State would only payout towards the interest part of the mortgage and then only up to a certain amount. Those homeowners who rely solely on savings could also be making a mistake. Savings would only last for so long and then they would run dry. If you were out of work due to an accident or illness then you would not know when you would be able to go back. You could be relying on your savings for many months. Mortgage payment protection also needs to be checked against your circumstances but you will know in an instance if it is suitable if you go with a payment protection specialist.

Mortgage Payment Protection Advice

Before taking out mortgage payment protection you need to get as much advice and information as possible. Mortgage cover is taken out to provide you with an income if you should lose your own; however you have to make sure you take the right level of cover for your needs. You are able to insure against accident, sickness and unemployment together, just for unemployment or just for accident and sickness. The level of cover you take will reflect on how much you pay for your policy along with age and the amount of your repayment you wish to cover.

Mortgage payment protection advice is available on the websites of those who specifically sell payment protection insurance. A host of information and FAQs should be provided so you can ensure which level of cover would be the most suitable. Once you have checked this you can then apply for quotes online and then compare these to find the lowest possible protection premium and the best policy. When comparing premiums you also have to look at the terms of the cover as these differ too. A policy will begin at a certain time and end after so long. Usually your mortgage protection would begin to provide between 30 and 90 days. It would either pay for 12 months or with some providers for 24 months.

Having something to fall back on if you lose your income is essential and mortgage cover is an excellent form of protection. You would not have to worry about your mortgage repayments or struggle to find the money each month. This would leave you with a clear mind which would allow you to make a recovery and get back to work. In the case of unemployment it would allow you to look around for work which was suitable and which paid the income you are used to receiving. Jobs are hard to come by and it could be several months before you are able to find one.

State benefits or savings are both often considered as a plan to fall back on. However both sometimes let you down as savings might not be enough to support you for several months and State help is only given for the interest part of the mortgage.

Without a policy to back you up life could become very difficult. Lenders can choose to start repossession proceedings with just a couple of missed payments on your mortgage. If you miss one repayment then you will receive a warning letter and the missed payment will mean a mark on your credit file. Lenders are willing to work with you to some extent. However if you have not got a regular income and cannot show how you can catch up on the arrears and continue paying your mortgage, then you stand a real chance of being evicted from your home. Mortgage protection can be found for a small premium and even those who take on huge borrowings which stretch their budgets to the maximum can afford to protect their mortgage with age based mortgage payment protection.

Consider Taking Out Mortgage Cover For Peace of Mind

Mortgage cover can give you enormous peace of mind if you find yourself without an income. A loss of income can come about through either unemployment or incapacity. Every day redundancies happen and you could be a victim and lose your income entirely. You could also suffer from an illness or an accident that would mean you had to take time from work and recovery could take many months. If you lost your income this could leave you struggling to find the money needed to pay your mortgage.

If you miss just one of the monthly mortgage repayments then you would have to catch up on it and the lender will want to know how you are going to do this. Being able to prove you can do this without having an income coming in would be extremely hard. If you were to carry on missing repayments then the lender will take steps to repossess your home and have you evicted. Of course with mortgage payment protection you would not have this worry hanging over your head.

You are able to take out mortgage cover to insure against the possibility that you might find yourself a victim of unemployment only. Or if you wish to cover the fact that you could possibly suffer an illness or an accident you can choose to cover just this too. If you want to take out full protection you can take a policy for all three. The cost of the insurance will take into account the level of protection you want to take out, your age and the amount you want to cover. As the protection is age based even first time home buyers who take on huge mortgages can afford to protect their home with mortgage insurance.

You do have to look around for the cheapest premiums as the cost of protection will depend on the provider. Buying your protection policy with a standalone specialist in payment protection is the cheapest way to take out the cover and again premiums vary. You not only have to compare the cost of the policy but also what is included in the policy. Some providers will add in more exclusions than others, however there are always some exclusions to be found and these have to be checked against your personal circumstances. You would of course have to be living and working in the UK, Isle of Man or the Channel Isles and have to be in full time work. You can also find out when your policy would start and when it would end in the terms and conditions.

Some providers will offer you mortgage cover that would provide you with an income each month for 12 months while some might offer 24 months protection. You would have to wait for so long before the cover would start and this is usually between 30 and 90 continuous days of being unemployed or of being incapacitated, depending on the level of protection you have taken. You should also check out the small print to see if the provider would backdate your protection to the first day of unemployment or incapacity.

Mortgage Payment Insurance an Effective Safety Net

Providing you read the terms and conditions of the cover before taking out a policy, mortgage payment insurance can be an effective safety net on which to rely. It would give you the income you insured against at the time of applying for the policy if you cannot earn your own income.

You are able to apply for cover based on your circumstances. For example you could protect against accident, sickness and unemployment together. You could also choose to protect against unemployment only or accident and sickness only if you wished. The premium you have to pay for the protection will be based on the level, how old you are and the amount you wish to protect. As cover is age based this means that first time home buyers can afford to pay for protection even with an over stretched budget.

To get the cheapest mortgage payment insurance you have to compare premiums online. Standalone payment protection specialists will offer the cheaper quotes and you also have to compare the terms and conditions of the policy. Some policies would begin to provide you with an income after only 30 days and backdate the benefit to the first day of unemployment or incapacity while others might state 90 days. A policy could provide you with an income each month for 12 months or it could run for 24 months.

When you consider the consequences of missing just a couple of repayments on the mortgage and not being able to catch up you can see why mortgage insurance is so valuable. If you just miss one payment this will be enough for the lender to call you into see them. If you can come to an agreement for repaying the arrears and continuing with the mortgage then all could be well, however you would have to be able to show that you could do this and if you had not got an income that would be impossible. Of course you probably will not know how long it will take for you to recover and get back to work or to find another job. If you cannot come to an agreement and you continue to get into arrears then the lender will have no choice but to start proceedings to take your home.

Many homeowners are under the impression that they would be able to claim benefit from the State. While you might be able to get help with your mortgage from the State it would only go towards the interest part of the mortgage. You would have to be eligible to claim and this means among other things that you have to be claiming income support and you not have a partner living with you who is in full time work.

Of course you would have to ensure that mortgage payment insurance would be suitable. While it is an excellent product to have in your corner it is not suitable for the circumstances of all individuals. You would need to check the terms and conditions but all ethical providers of payment protection products would provide you with this information on their website.

Income Protection Insurance Against Redundancy

Redundancy can happen at anytime but you can protect against the unknown and the fact that it might happen to you. Income protection insurance would allow you to take out a policy for a fixed premium each month depending on how much you want to protect and your age.

This form of protection insurance should not be confused with income payment protection insurance. Income payment protection insurance would provide you with a replacement income if you were made redundant or were unable to work after suffering an illness or an accident. It would provide you with an income from between 30 and 90 days depending on the provider which would last for between 12 and 24 months.

Income protection insurance would not payout if you were to become unemployed by redundancy. It would cover you in case you should fall ill or if you had an accident that meant you were unable to work. Another big difference between the two policies is that it would provide long term protection, up to the age of retirement if needed. This means that if you fall ill or suffer an accident the cover would begin to provide you with a replacement income and continue to do so right up to you retiring if you could not go back to work.

Many providers who offer this type of insurance also offer premium rate. This means that you are able to take out premiums that remain fixed the whole time you are paying for the policy. The actual premium you will be asked to pay will depend largely on your circumstances. Your age might play a factor in the rate for the premium however other factors will also be taken into account and play a big part. Your gender, medical history and occupation will be taken into account and if your job puts you at a bigger risk then the premium will be higher. Another big difference between the two types of insurance protection policies is the deferment period. In the case of this policy it is considerably longer.

Covering your income against a loss is essential whichever form of protection insurance you wish to take out. You would be able to continue meeting your essential outgoings and of course one of the most important is your mortgage. If you get behind on your mortgage then you are risking losing your home, as the lender can choose to start repossession proceedings. Just one missed repayment is enough to have the lender send you a letter and wanting to know when you are going to catch up on the arrears. If you do not know when you are able to go back to work you would not be able to make any arrangement to repay.

Of course you would also be able to continue to pay all your other essential outgoings such as loan, credit card repayments and also other bills that have to go out each month. Both income protection insurance and income payment protection are both valuable forms of cover which can save you additional stress and anxiety.

Income Protection Insurance Can Help If You Lose Your Own Income

Income protection insurance should not be confused with a product of a very similar name, income payment protection insurance. While the two are similar names and they would provide an income if you lost your own, the terms and conditions under which they do are very different.

Income payment protection insurance would provide an income if you were to fall ill or suffer an accident which meant you were unable to work. It would also payout if you become unemployed this could be by redundancy. You would have to stand to so many days of unemployment or of being incapacitated and then the policy would begin to provide you with the income you insured against. Usually providers ask you wait around 30 to 90 days. The policy would payout for between 12 and 24 months and then it would cease whether you had gone back to work or found another job. The premium you would pay would be based on your age and the amount you wished to protect each month. Your lifestyle is not taken into account with this type of protection.

Income protection insurance would supply you with an income but you would have to wait considerably longer for the payout to commence. You are able to protect against incapacity due to suffering an accident or an illness but unemployment by such as redundancy is not covered. While you would have to wait a certain period before putting in a claim once you had started to receive the benefit it would continue to payout for as long as you needed it. If necessary it would continue providing you with an income until you reached the age of retirement. There are many factors which go towards determining the cost of the insurance. Age will be taken into account and such as your gender; occupation and health will also determine how much you have to pay for the premium. Therefore if you are in the older age group, smoke and have an occupation deemed to be risky you will pay a higher premium.

Protecting your income is essential, when you sit down and work out what you have going out each month it will add up to a large amount. If you have the commitment of a mortgage each month then you have to ensure that you have the income so that you can continue meeting the repayments. If you fall into arrears with the payments then you will risk everything and you lender could choose to repossess. Even one missed repayment means you have broken the contract you signed with the lender for your mortgage. If you cannot show how you would you could catch up on the arrears while paying your mortgage then your lender will take the first steps of repossession.

Of course you will probably have other commitments that you need to keep on top of too; loan or credit card repayments for instance need to be maintained. If they are not then the lender could take you to court and at the very least your credit file will be affected. If you take out income protection insurance you are able to relax and concentrate on making a recovery and getting back to earning.

Cover a Lost Income With Income Insurance

There are two types of income insurance you could consider, income payment protection insurance and income protection insurance. Both polices would provide you with an income if you lose your own, however there the similarity ends and it is essential to choose the right type of protection for your needs.

Income payment protection insurance would give you an income if you lost your own due to suffering an accident or illness that kept you from working or if you became unemployed due to redundancy. The policy would last for a period of between 12 months and 24 months after a waiting period of between 30 and 90 days. Some providers would also backdate to the first day of your losing your job or of being made redundant.

Income insurance would also payout an income but in this case it would only payout if you were to become incapacitated. It would not cover being made unemployed. However it would payout for a longer term after a longer deferment period of time. In fact once the policy has started to payout it would continue to do so for as long as you needed it, which could be until you reached retirement age. However while income payment protection insurance relies on age and the amount of cover you wish to protect there are more factors taken into account with income protection insurance. Your medical history will reflect how much you pay for the premium; the fitter you are the cheaper your policy. Factors such as whether you smoke, your gender and occupation also go towards setting the premium.

Income protection is a great product to have if you do lose your income, whichever form of cover you choose to take out based on your circumstances. Both types of cover are cheaper when taken out with those who specialise in payment protection products. By doing so you will have access to the vital information needed to ascertain whether or not a policy would be suitable.

With income insurance behind you, you would not have to worry about where you would get the money needed to be able to continue meeting your essential outgoings each month. One of your biggest outgoings would be able to be kept up with, your mortgage. Maintaining your mortgage is essential as just one missed repayment will cause worry with the lender. You will have to show how you are able to continue paying your mortgage while at the same time catching up on the arrears. With a policy you would also be able to carry on paying such as your loan, credit card, grocery bill and all other bills that you would maintain on a regular basis each month. This would leave you with complete peace of mind that you would have the income needed and not have to worry about juggling bills around or putting one off to pay another. You would be able to concentrate on making a recovery and getting back to work or find another job suitable for your circumstances.

What is Income Payment Protection Insurance?

Income payment protection insurance is perhaps one of the most confusing of all the payment protection policies available. This is a policy that can be taken out to safeguard against the fact that you might become unemployed or incapacitated while paying back loans. It is a short term policy that would usually payout for either 12 or 24 months depending on the provider.

Income payment protection can be taken out for a fixed premium that is based on the level of your income, up to a certain amount, that you wish to cover. It also takes into account how old you are at the time of applying for the protection. If you were to find yourself unemployed by reasons not of your own, or you suffered the misfortune of an accident or illness then you would be able to claim on the policy.

Taking out income payment protection insurance would mean that you would be able to take care of your essential outgoings. One of the most important of these outgoings is your mortgage. Continuing to meet your mortgage repayment each and every month without fail is essential. If you got behind with the repayments by just one payment then the lender would be in touch with you. As you would not know when you would be able to catch up on your arrears and continue to pay your mortgage, the lender could start proceedings to repossess your home. However with a policy to fall back on you would not have this worry. You would be able to meet the repayments as you normally would while concentrating on making a recovery or finding work.

Any loan commitments that you had could also be taken care of this way. Loan and credit card repayments have to be kept up otherwise you will have a bad credit mark on file and this affects any future borrowing. This however could be the very least of your worries as the lender could take you to court and you might have a County Court Judgement against you. Your lender could also seek possession of your belongings to get back what you owe.

Your policy would also allow you to keep up with any other outgoings you pay to maintain your lifestyle. Heating, lighting and food bills could all be paid as could anything else. Income payment protection insurance has to be shopped around for as you would with any form of insurance. Policies differ with providers so you do have to check the terms and conditions of the cover to see what exclusions reside in the policy and when it would start and end. Providers have different starting dates for their cover. This is the amount of time that you have to be unemployed or incapacitated before you would be able to put in a claim. Usually this is between the 30th and 90th day. As no one knows what might happen in the future having a back up plan to rely on is essential and relying on savings you have accumulated or benefit from the State could be futile.

#3 of the Top Ten List From Insurance Claim Secrets REVEALED! - Mitigate Your Damages!

Remember, the word "mitigate" is an insurance term that means protecting the property from further damage. This can involve placing tarps over damaged roofing, removing damaged contents, pumping water out of your home or other temporary repairs. The costs for temporary repairs to protect your property are covered in your policy.

You have a responsibility in your policy to mitigate your damages. Depending on your individual situation, that may mean doing something as soon as possible after a loss. If you don't protect your property from further damage, the insurance company will likely deny the additional damage that will occur.

For example, if you have a windstorm that tears off your shingles. You do nothing to protect the roof and four days later, a big thunderstorm dumps a couple inches of rain on the roof, which causes water damage to ceilings throughout the house. The insurance company would pay to fix the roof, but not the water damage inside.

You may need a restoration contractor to mitigate the damages for you. I wrote about restoration contractors in Chapter Four. Here is a little extra comment about restoration contractors.

You might see many restoration contractors drop by to see if they can help you with temporary repairs, like tarps on roofs, board-up, pumping out water and demolition, and contents removal. Get written estimates from them BEFORE you sign ANYTHING. They will sometimes tell you that they were sent by the insurance company (maybe true, maybe not), and that it is your responsibility to protect your property from further damage (which is true). They may tell you that they will "direct bill" the insurance company (which they may do).

Be very careful on contents removal, sometimes known as "pack out." The more contents they clean, the more money they make. The cost to clean something is a fraction of the cost to replace it. So, when the restoration contractors are involved, the claim value is reduced, which benefits the insurance company. That is why many adjusters may bring a restoration contractor with them to the loss location. Remember that many policies pay REPLACEMENT COST, and following major fires, large windstorm and water losses, most of your damaged possessions can be replaced instead of being cleaned. Every penny that goes for cleaning your contents comes from the contents limit of liability shown on your policy declarations page. So, theoretically, a substantial amount of your insurance money to replace your items could go to the restoration company to only clean the items!! If the restoration contractor cleans a bunch of your property, and you reject it as unusable, there will be less money for replacement of your property.

The contract for cleaning and restoration of your property will be between you and the contractor...not the contractor and the insurance company.

MAKE SURE YOU ARE IN CONTROL!!

Sifting Out the Fraud

In the UK, almost one in ten insurance claims is found to be fraudulent, costing the industry £1.6 billion a year and adding an estimated £40 a year to the average insurance premium, according to the Association of British Insurers (ABI).

Malcolm Tarling, of the ABI, says: "Insurers are cracking down on fraudulent claims and it is a crime taken very seriously by us. We know the tell-tale signs - for example, claims made soon after a policy is taken out, or people who claim to have no receipt for an item bought recently. We also have experts who inspect buildings and cars to assess damage - we can tell when damage to a car is metal fatigue, for example, rather than the result of an accident."

All insurance companies also have access to a database called the Claims Underwriting Exchange, which records the status of claims made by policyholders and helps to identify multiple claimants. In an example of how widespread the problem has become, a survey by Moneysupermarket.com, the comparison website, found that two thirds of people would consider lying to their insurer if they had failed to secure their car properly and it was stolen.

Richard Mason, director of insurance at Moneysupermarket.com, says: "You may think that telling a little white lie, or holding back the whole truth, is no cause for concern. But if your claim is as a result of your own wrongdoing, insurers will see it as fraudulent. The consequences of being found out can be dire. Not only could the insurer refuse cover, it could report you to the police."Data-sharing means that other insurers will know that you have made a fraudulent claim, making it very difficult - or impossible - to find cover elsewhere."

So what is the average consumer to do when there is a genuine case of an accident claim?

Through intense research and analysis, insurance companies are now able to "sift out" insurance claims; and to draw example, these insurance companies are usually using the new software Advance- which is a combination of fraud evaluation software from CSC and data sources from Conversant Data- to check claims information to expose potential fraud attempts against its accident claims. Claims are screened according to business rules developed by CSC- for example claims made soon after the policy is taken out may get extra scrutiny. In these cases, whiplash is a much harder claim than is suffering from a broken leg- and thus has more potential for fraud- and in this case, may be subject to more scrutiny.

Whatever, the case may be, in 2008, insurers are indeed cracking down on fraudulent policies; and as the population seeks new and ingenious ways to get more money, accident claims are to suffer a crack-down.

Insurance Premium Audits For Contractors - How to Avoid Getting Overcharged in an Audit

WHAT DO CONTRACTORS NEED TO KNOW ABOUT PREMIUM AUDITS? Most contractors find they are subject to premium audits from insurance companies for general liability, workers compensation, and sometimes for automobile, and even builders risk insurance policies. This applies most types of contractors, including general contractors, plumbing contractors, heating ventilation and air conditioning (HVAC) contractors, electrical contractors drywall contractors, painting contractors, roofing contractors, and so on.

A premium audit is a review of your business operations, financial reports, and records to determine what to charge you for your contractor liability insurance, workers compensation, or other coverage provided. The objective is to determine the final earned premium for a given policy that was issued on the basis of payroll, sales, subcontracting costs, or other variables.

Policy premiums are based on projections you provided for payroll, sales, and perhaps subcontractor costs. Your insurance rates can vary based on this information, the audit determines what the correct premium should be based on your actual experience.

The audit is performed by an auditor selected by the insurance company. They may be an employee of the insurance company, or an employee of an auditing firm, or even an independent contractor.

THERE ARE THREE TYPES OF PREMIUM AUDITS. Depending on the size of your premiums and your operations you may get one of the following:

Physical Audit - Conducted at your premises or at a secondary location such as your accountant's office.

Phone Audit - An auditor contacts you over the phone to complete the audit. This type of audit is generally for small- to mid-sized accounts.

Mail Audit - A voluntary audit form with instructions is mailed to you. Mail audits are generally conducted for smaller accounts.

RECORDS AUDITORS MAY ASK TO SEE: Auditors are likely to ask for one or more of the following types of records:

Journals and Ledgers
Tax filings Individual
Pay Records
Time cards
Vehicle titles
Contracts with clients
Contracts with subcontractors
Records of Job Costs
P&L Statements
Balance Sheets

QUESTIONS AUDITORS MAY ASK The auditor will likely ask questions about your records or operations. They may be asking questions to determine if the correct classifications are being applied. If an auditor decides your operations are not correctly classified, it can have an unwelcome surprising result of a large audit billing. Make sure you understand your classifications, and how the boundaries of your particular classifications are defined.

If an auditor questions the use of any classifications, they may ask to see some actual work being done by your employees.

It is important to understand credits you are entitled to in audits.

Insurance classification and rating rules often allow credits to your audit, but your records must be maintained to provide the necessary information in detail and summary form.

If premiums are payroll based, you will pay for total remuneration as defined in the policy.

Remuneration in most states, means money or substitutes for money, and includes:

Bonuses
Commissions
Holiday Pay
Other Money Substitutes
Overtime Pay
Payments made to Profit Sharing Plans
Payments made to statutory benefit plans
The value of board and lodging
Tool Allowances
Wages

Understand the following concepts and definitions to help make sure you avoid overpaying from an audit.

OVERTIME
In most states, the amount attributable to overtime in excess of the regular time pay rate may be deducted. It must be clearly identified in your records. Excess pay for overtime must be clearly segregated in the payroll records.

DIVISION OF PAYROLL
Division of an individual employee's payroll to more than one classification is not allowed, except for construction or erection operations and/or certain executive officer classifications. When payroll is divisible, daily time card must be kept allocating the work to different classifications. Failure to keep daily time cards may result in all payroll of an employee getting assigned to the highest rated classification.

SUB-CONTRACTORS
Avoid becoming responsible for injuries to employees of subcontractor, by obtaining certificates of insurance naming you additional insured. Check your contracts with your subcontractors to make sure you are held harmless and properly protected by indemnification clauses. Auditors look to see if you have adhered to the terms in your policy as respects to your subcontractors. Sometimes audits go bad when the certificates are not in place, or the auditor decides payments to subcontractors are really wages to employees.

AUTOMATED RECORDS
Set up your automated records to provide audiors what they need, and you will find your audits go smoothly, and save you lots of time in the future.

DOCUMENTS YOU MAY BE ASKED FOR AT AN AUDIT
Accounts payable journal and cash dispersements
A/R journal
All vehicle leases, including but not limited to, owner-operator leases
Annual income tax statements
Documents supporting entries in the journals and financial statements
Driver and vehicle logs
Expense journal
Income Statements
Monthly Individual earnings reports
Payroll records including the payroll journal
Quarterly 941's
Registrations for owned vehicles
SUI's (State Unemployment Reports - DE 6's in California)
General and subsidiary sales ledgers
All underlying journals

Why People Buy Mortgage Protection Life Insurance?

The odds of your house being destroyed by fire are considerably less than the possibility of your family losing your home through the untimely death or total disability of the breadwinner, because without your income your family would still have to make your monthly mortgage payments. Think about it.

How long would it take for your family to adjust to life without you? Two years... five years... maybe ten? And how long could your present savings and other insurance sustain them? To build adequate reserves to ease them over this period of adjustment could be costly, and could make you forfeit today's pleasures for tomorrow's security.

With Mortgage Protection that isn't necessary. For a reasonable cost, you can enjoy today and still be secure in knowing your family's future is protected. When you select to buy Mortgage Protection insurance, you take an important step toward a more secure future for you and your loved ones.

Some people say I have life insurance on my job. Having life insurance on the job is better than nothing, you should have a personal policy; why?

Your job, if you ever left, fired, laid off, quit, retire, no more group life insurance. (At work your job owns your policy) Therefore you should have your own policy as well. Young and healthy is the best time to get life insurance you are rated based on your health and age and some other factors.

Life insurance is not something you can get when ever you feel like it, it's like applying for a credit card either your approved as applied for, approved at a higher rate or your insurance is decline.

Keep in mind it's important that you start your coverage while you're in good health, age is also a factor remember your family is your most valuable asset.

Thank you for reading.

E&O Insurance - Why Do We Need It?

E&O insurance stands for Errors and Omissions Insurance, which protects a notary from getting sued. There are a lot of companies that will not hire mobile notaries because their insurance policy does not go over $100,000. Why is that? Well for a few reasons, the title, escrow, or lender has to make sure they cover their bases. If you are not insured for enough of what they would get sued you will not get hired. It is not too expensive to upgrade or go with the 100K policy anyways and worth it so you don't get snubbed on that job and you do not want to be held personally liable if you were to get sued.

A lot of notaries do it for the peace of mind, that way every signing you are not freaking out if you did it right or not. Missing a signature is not a reason to be sued directly. There would have to be multiple implications to raise a law suit. Messing with documents, breaking the law, and not adhering to company requests could implicate a notary in court. That is why it is a good idea to get E&O Insurance. In all states it is required to have E&O Insurance so make sure you check online under your particular state for specific details. I emphasized the importance of the amount of the coverage because you will be able to choose how much you want your business to be covered for. I can't tell you how many stories I have heard from notaries who didn't get the insurance upgrade, then not put in a directory, or thrown out of an Escrow companies Rolodex just because they didn't want to pay the higher monthly premium.

Prices for E&O Insurance vary and are paid yearly. The cheapest coverage is for $15K and will cost around $19 a year, very inexpensive when we are talking about protecting yourself. The $100K Liability limit tends to get steeper and costs about $195 a year. This amount is again not ridiculous and is doable for most notary publics.

Think about the bigger picture. If you don't protect your self you can hurt your business and even family. There are plenty of notaries who get away with not paying for Insurance and come out fine. There are also horror stories of the guy next door who lost his home because the Mortgage company sued him for negligence. It doesn't happen often, but its good to protect yourself.

Insurance Glossary - Auto, Business, Life, Home and Health

The amount of insurance and type of insurance you need depend on your sources of income, your debts, your goals, and your lifestyle. Insurance and number of dependents. You can Buy Insurance from independent agents, exclusive agents,directly from insurance companies , brokers or that sell their products online or through a toll-free telephone services hence there are many ways "How to Buy insurance" . Some of the major insurance policies are for life, health, home, auto and business. Additional policies include those on disability, travel, dental, and long-term care, vision insurance, mortgage and so on. Result is their are hundreds of topics on which we can contract with Insurance Companies

Auto Insurance:

Auto Insurance policies provide protection against losses suffered due to auto thefts and accidents. Additional policies for protection against liabilities from non-insured drivers, property damage, bodily harm and medical payments are also available.

Business Insurance:

Depending on your type and scale of business, Insurance Companies provide protection against risks and falls. Business owners' choose Insurance for small and mid-sized businesses include property insurance, business interruption insurance and policies for protection against liabilities.

Home Insurance:

People Insure their homes via basic, comprehensive or special home insurance policies as suitable for their homes, its contents and personal assets of the homeowner against losses from accidents and thefts.

Health Insurance:

These are the four main type of Health Insurance "Indemnity plans, health maintenance organizations (HMO), preferred provider organizations (PPOs) and point-of-service plans (POS)". Policies can be obtained individually or through employers or by enrolling in Medicare or Medicaid.

Life Insurance:

The two main types of life insurance are Short term Insurance and Permanent Insurance. The former is for a specified period of time whereas the latter is life long. Beneficiaries receive a specified amount of money on the death of the insured person.

Protect and Serve

History of Insurance

Insurance in general is an ancient business and one that has closely followed the path of human development. The insurance industry can trace its roots back to China in the third millennium BC to Merchants who transported goods on the dangerous Yangtze River.
Records show that the Greeks and Romans introduced life insurance in AD600, but it was the great fire of London in 1666 which was the catalyst for the British insurance industry's creation. By 1688, Lloyd's Coffee House in Tower Street was known as the meeting place for ship-owners and merchants who wished to insure their ships and cargoes, and those willing to underwrite such ventures. This continued until 1771, when a group of Lloyd's customers formed their own association of underwriters, Lloyd's of London, and took up residence at the Royal Exchange. A century later the company was incorporated by Parliament to promote marine insurance. Today, the UK insurance industry is the largest in Europe and the third-largest in the world.

Mortgage Insurance

Mortgage insurance is sometimes referred to as Life Insurance and its purpose is to cover home loan repayments in the event of death or sometimes illness. It provides piece of mind for families so mortgage payments would no longer be a burden if tragedy were to strike.

Most people buying Mortgage Insurance usually hear this term for the first time when they have just entered into a mortgage loan agreement with a lending institution. When you are buying a home, there are a few different types of mortgage insurance and mortgage protection products that you need to consider. Mortgage lenders often offer mortgage insurance cover and whilst this may seem the easy option, it may not necessarily be the best or the cheapest.

Which Mortgage Insurance do I need?

Its difficult enough trying to find a good mortgage deal these days never mind worrying about all of the mortgage insurance and related products you also have to consider and factor into your budget. At a minimum your mortgage provider will expect you to arrange life insurance or mortgage insurance and home insurance as you are required to insure the structure of the property even if you choose not insure your contents.

Optional mortgage insurance and insurance products you might like to consider are: Serious Illness Insurance (which can be built into your mortgage protection cover), Contents Insurance (usually built into your house insurance cover), Mortgage Repayment Protection Insurance. If you are buying with a partner and you are not married, you should take out inheritance tax cover. (If you get married, you can subsequently cancel the insurance)

What is mortgage insurance?

In a nutshell a mortgage Insurance policy is designed to pay off your mortgage if you die during the term of your mortgage. The cheapest form of mortgage protection is 'Decreasing Term Assurance'. This cover reduces in line with the reducing balance of your mortgage. You also need to bear in mind that if you take out a joint mortgage, you are required to take out a policy to cover both you and your partner, so that the mortgage would be completely paid off if either of you died.

Conclusion
Mortgage Insurance is there to protect you and your family from loosing your home if the unthinkable should happen. It pays to shop around and seek advice before you buy into a mortgage insurance policy. Choose a good mortgage insurance policy with affordable monthly premiums for peace of mind as choosing the wrong mortgage insurance policy could mean you might end up paying far more than you need too and might it might let you down when you need it most.

UK Life is based in the North East of England and was founded by Alan Lynch. The company is one of the largest insurance brokers in the UK specialising in life insurance. UK Life service tens of thousands of clients each year, with the aim of providing the best service they can, absolutely free of charge.

Does Your Insurance Exclude You? Part 3

Another little-known fact of travel insurance is that the majority of policies which cover lost or delayed baggage will only apply on the way out. If you arrive back in the airport after a holiday, and your luggage fails to make an appearance on the carousel, there may be little you can do. Your insurer might not include inbound luggage loss as part of their standard policy, but you should be able to obtain cover if you inquire about it, and pay extra.

Payment protection insurance is perhaps the most exclusion-riddled insurance of all. Commonly offered at the time of taking out a loan, mortgage or a catalogue order, PP insurance is usually optional, but can be a good idea if you have dependents and/or several financial commitments. The premiums are typically high, so if you decide to take out PP, read the TOS very carefully to make sure you could claim if necessary; otherwise you could waste your money.

Not many people know unless they've had a claim refused, but if you have to take time off work due to common condition like stress or backache, you won't receive a payout from your PP. Even if the condition didn't exist at the time you took out the policy, a claim won't be accepted by the majority of insurers for loss of income due to the most common complaints. Your PP may also be invalid if you are self-employed or have been at a place of employment for less than 12 months on a permanent contract.

No matter what type of insurance you take out, it's important to read through all the paperwork carefully to make sure you could make a claim if necessary. Check all the terms and conditions, all the exclusions, and ask your insurer if there's anything you're not sure of. You generally have a week or two in which to check all the documents before you're tied into a policy, so make use of this time to familiarise yourself with the small print and make sure the policy is right for you.

Does Your Insurance Exclude You? Part 2

The length of a holiday can factor in another exclusion. Many travel insurance policies expire after 28 consecutive days per trip unless you pay extra. Don't make the mistake of assuming that your annual travel insurance will cover you for an unlimited length of time; inform your insurer if you intend to be away longer than 28 days so they can arrange extra cover. The same goes for home insurance; if you are planning on leaving your property unattended for more than 30 consecutive days you must inform your insurer. Many policies include a clause which states you can't leave your home empty for longer than this. Arrange for a friend or neighbour to stay in your house if you need to take an extended trip.

If you're an adrenaline junkie, check your insurance policies carefully. If you have travel insurance you may find you can't claim if you're injured while on an adventure holiday involving any type of extreme sport; this can include sky-diving, off-piste skiing and bungee jumping among others. Your life insurance could be compromised if you regularly take part in extreme sports on a professional or semi-professional level; activities such as wrestling, boxing and competition martial arts are commonly excluded from cover.

The majority of car insurance providers will not pay up in the event of an accident if you were found not to be wearing your seatbelt. This falls under the category of negligence and can apply if you allowed an uninsured or unlicensed driver behind the wheel of your vehicle. Negligence can also take the form of having your car stolen after leaving the keys in the ignition, or failing to lock up your bike outside a shop and having it stolen. If you lose something due to your own negligence your insurer could refuse to pay, citing you didn't take 'reasonable care' of your belongings.

You may also be refused a payout if you were under the influence of alcohol at the time of an incident. This not only applies to car insurance - drink driving is not just illegal, but can invalidate a claim - but can also mean that if you injure yourself on holiday after an exotic drinking binge you can't claim for any medical expenses incurred as a result. Home insurance is also affected by alcohol; If you hold an alcohol-fuelled party in your house and anything is damaged or stolen, your insurer may not pay out.

Does Your Insurance Exclude You? Part 1

Very little about insurance is straight-forward. There are so many clauses, sub-clauses and exclusions to consider it's a wonder anyone gets the coverage they need. So before applying for any kind of insurance, it's best to read the terms and conditions thoroughly to find out if any of the exclusions would apply to you.

The main types of insurance are car, travel, life and home insurance. Payment protection (PP) insurance and boiler insurance, also called heating cover, are becoming more commonplace too. Each insurance type will have different exclusions which may apply, and just to make things more confusing, not all exclusions will apply on each policy. Only by reading the T&C carefully or asking the insurer will you know for sure.

Perhaps the number one exclusion which affects travel, life and PP insurance is pre-existing conditions. When taking out one of these policies, your insurer should ask you a number of health-related questions. If they don't, it's your duty to inform them of any past or current health issues. Anything from diabetes to the fact you quit smoking 3 years ago should be declared otherwise a subsequent claim could be rendered invalid. Even though the insurer may not probe deeply into your medical history at the time of application you can rest assured they will go through it with a fine-toothed comb if you try to make a claim. Omitting any details at the start could cost you more than a possible increase in premium.

A little known fact of travel insurance is that if you travel to a country which is currently classified as a 'war zone' - such as Iraq or Afghanistan, you won't be covered. Checking the Foreign Office website will inform you of countries which they advise against visiting, and would therefore invalidate your insurance should you do so. A number of travel insurance policies actually exclude any terrorism-related problems; if your luggage is destroyed or your hotel is bombed in a terrorist attack you may not be able to claim.

Working on Insurance Comparison Websites

There is no doubt that the UK has gone crazy with price comparison websites, especially those that sell financial products, such as insurance, loans or credit cards.
There are probably a few reasons for this.

First Is Cost
There is no doubt that substantial savings can be made using this type of service say to buy your next car insurance policy. Each policy is presented to you, with the basic guide of what cover is offered and the price of that policy. For those who are used to automatically renewing will probably get the biggest benefit, here with real savings. It is probably this customer base that each website uses as an example to show how much money they could save. But it often not as easy as this: Often when you read the full policy details, you can find differences between the cheapest option and one more expensive, even if the basic top line requirements have been included. Insurance comparison is especially prone to this issue, as drivers often need a policy to suit all the different factors that go into making up the quote. For example, how many miles a year they drive, what make of car they drive, do they have any points on their licence, how many accidents if any have they had etc. This means that each driver is often looking for a unique quote for their personal circumstances, which is why you don't buy car insurance off the shelf, like say breakdown insurance. So this is where insurance comparison websites, sometime do not deliver, yes they show the best prices, but often do not show the real difference between the policies, even though they may present charts to attempt to.

The next benefit is saving time
Gone are the days where you needed to take time off work, because your car insurance agent only worked 9 to 5 Monday to Friday and possibly to 12pm on Saturday morning. Being able to look at quote in your time and in seconds really has changed the insurance industry. As a car insurance comparison provider, if you do not have a way of showing quotes on the internet in seconds, then it is unlikely your business will grow. The internet is no longer a new thing; even my 75 year old parents' use the internet to buy all their financial products with no help from me.

Immediate Cover
Most sites now also offer immediate cover on all insurance polices, although a final signature is needed at the end. Personal loans and credit cards still require a signature before you receive any moneys or a card. But as far as insurance goes, being able to cover your vehicle the second you put your credit card details in, is a major benefit to the user, especially those who always wait to the last minute with these things. Even those who are away from home and have access to any online computer can sort out their financial affairs online, even those who choose to live abroad.

So there are good things and a few things not so good with insurance comparison sites, but there is no doubt it has changed the way we buy financial products and I can't see us going back to how we did it before.

A Guide To Loan Payment Protection Insurance

Loan payment protection insurance can be taken out at the time of borrowing, lenders will in fact try to push the cover with their loans to grab back profits and make up for the cheap loan. Of course this is one of the dearest ways of protecting the money you are borrowing against the fact that you might be unable to work due to an accident or sickness. It would also provide you with an income if you should become unemployed due to redundancy.

So when taking on a loan or credit card always make sure that you choose to cover the borrowing by buying it independently. High street lenders at one point would sometimes add cover onto the borrowing without you being aware of what you were taking on. However for the most part this has changed since the intervention by the Financial Services Authority. It is always worthwhile making sure that it hasn't been added onto the loan you are taking out.

Policies taken with a standalone provider are one of the cheapest ways to protect your borrowing and in order to get the cheapest loan payment protection insurance quote you have to compare with several providers. The premium that is charged for the protection is based on the amount that you wish to cover each month up to a certain amount and your age. Age based insurance makes payment protection products affordable for all. The amount you insure against is what you would receive if you should become incapacitated or unemployed. You can protect not only your loan repayments but also any credit card debts you have. As more and more people turn to using "plastic" to get by, covering your borrowings is essential.

When the policy would payout and for how long would all depend on the provider you chose to go with. Therefore it is essential to read the small print of the policy before taking it out. Some providers will offer a policy that begins paying out a tax-free sum after just 30 days. However some will defer paying out on the policy until you have at least been out of work or unemployed for 90 days. The same applies as to how long the cover would last. There are policies that could payout for 12 months and some providers offer cover lasting up to 24 months. You also have to look at the exclusions as there are some in all policies and how many depends on the provider.

Loan payment protection insurance is valuable as if you cannot maintain your repayments and get behind and into debt then at the very least you would see your credit rating affected. In the worse cases you would be given a County Curt Judgement and bailiffs may be sent to recover what you owed through your belongings. Of course with a loan payment protection plan behind you, you would not have this worry and would be able to continue meeting your repayments. This alone would give you peace of mind and at a time when you need to be concentrating on making a recovery or going out and finding work, it is a lifeline.