Car insurance and enforcing the law

Even when the times were great, some people went without insurance. Some were simply too poor to be able to manage the premiums. Yes, the difference between your have and have-nots has been gradually rising within the past fifty years and there is more poverty to-day than you imagine. Then there were people who just refused to pay. This is really a mix of perversity and lack of respect for regulations. Such individuals don’t really accept traffic laws apply to them and, anyway, they think the quality of the driving is indeed great, they are going to never get within an accident. Such confidence isn’t always justified. Now the downturn ‘s been around for much more than two years and unemployment reveals little sign of changing for the greater. That is pushing more people into driving without insurance. Let’s face that. You can not get something done unless you possess a vehicle. So rather than quit this requirement, you only keep on driving and expect to find the greatest. This implies about 19% of the motorists on our roads are uninsured.
Because it is, enforcement is often a lottery. Some police forces wait until a moving violation to request verification of protection. Other provinces run random checks. Iowa is a good example. Each week the insurance-verification program sends out 5,400 letters to Ohio drivers asking for proof of insurance. Individuals who neglect to reply within 90 days should pay a fine — their permits are suspended for 90 days. Just by chance, this busts about 500 uninsured motorists weekly. Except many drivers who get the letters take-out a 30 day coverage then let it lapse again. Without successful policing, the intention of the law is readily disappointed. If everyone did have insurance, the average premium prices would fall. When those cheap car insurance quotes arrived, we might totally be spending less. As it is, the car insurance rates increase on basic cover and we are forced to pay extra for uninsured/underinsured coverage. All of this additional cost for the law abiding because states have no will to enforce regulations.
It is worth just pausing for a minute. Almost twenty percent of all motorists are uninsured. Meaning the chances of you being included in a collision with an uninsured driver are large. Why has the situation been permitted to become so bad? In all but three states, simple liability protection is required. With the law on its aspect, every state could get a major clear and compel every uninsured driver off the street. All it requires is one database run by their state driver registration institution. All automobiles will be listed. All drivers would have their permits recorded. And all insurance companies would alert whenever an accredited motorist covered insurance or failed to renew. This could give the states an ongoing list of uninsured motorists on the way. The authorities can obtain the list in real-time when on patrol and pull over any vehicle thought to be uninsured. They may call circular to the final recorded addresses to request proof of insurance. Motorists failing to produce evidence of coverage could watch their vehicles being towed.

Auto insurance quotes are higher for blue-collar applicants

It would be good to think America always operated on basic principles of fairness so that regardless who you were, you always got a fair deal. After all, the capitalism that has made America a great country should not care about the individuals as people. The only thing that should matter is their ability to pay. If they have the money to pay the going rate, they should be allowed to buy. There should be no loading or additional premium added to the price. It should be the same price for all. This is not to say, of course, that prices can’t be used to discriminate. Some branded goods deliberately set high prices so that only people of a certain income group can afford to buy. That said, the price is out there for all to see. It doesn’t change depending on who walks in through the door of the shop or office. If a poor person wants to spend a month’s pay on a single item and go without food, he or she is allowed to do that. That’s the strength and, some would say, the weakness, of capitalism. But that’s not how the insurance industry works. The annual premium rates sent out in the auto insurance quotes change depending on the apparent class of the individual applying for cover.

The way you describe jobs

Taking this as a matter of common sense, there are people who live close to the place where they work and never leave that place during the working day. So apart from the drive to and from work, they are not at risk. But other people may have long drives to get to work and then have to make further road journeys as a part of their job descriptions. The more miles a person drives, the greater the risk of an accident, particularly if these miles are at peak periods on busy highways. So if we were assuming some level of discrimination, it would not be based solely on the nature of the work. It would be a whole cluster of factors starting with the zip code where we live, the distance to the place of work, the time the work starts and finishes, the nature of the duties, and so on. Applying this, an office worker in a downtown area must drive through heavy traffic. A blue collar worker might drive to a less congested area for heavy industry. A senior corporate executive might spend hours on the road driving to meetings with clients, keeping in touch with the office using all the latest technological gadgets.

A recent survey by the Consumer Federation of America has confirmed that blue-collar workers pay more for their auto insurance than white-collar professionals. So the CEO would receive a lower car insurance quote than a worker at the local steel mill. Why is this? One answer is the insurers are looking for the higher income households that can be targeted with marketing for the entire range of financial products and services. The first contact a young adult makes with an insurance company is through the search for auto insurance. If the applicant looks as though he or she may go on to earn a high income, this person will want insurance for health, home ownership, life and wealth management services. The better the long-term prospect, the more attractive the auto insurance quotes will be. Although this is a British view of the problem, it’s equally true on this side of the Atlantic.

Bait cars

Some makes and models of vehicle are well-known to thieves as being easy to break into or steal so a fairly obvious strategy is to leave cars matching this list in and around areas the police know have a higher rate of crime. Each of the vehicles is equipped with cameras and sone have immobilizers so that, if the thieves attempt to drive away, the doors can be locked remotely and the engine switched off until the arresting officers arrive. Why should local insurance companies cooperate by subsidizing the cost and fitting out of these vehicles. Because anything done to reduce the rate of thefts saves them money (and reduces the car insurance quotes for their policyholders). Here’s a report of the success in Albuquerque:

Education

People who fail to get or only get a high school diploma cannot get the jobs to earn the lower premium rates. The Consumer Federation of America confirmed the majority of insurers rely on education and jobs to set the rates. The lower the level of educational achievement, the higher the annual premium. Put the other way round, students who get a GPA of B or better earn discounts. Those who go on to college and university get even better auto insurance quotes than those who leave school to get the low-paying jobs. It’s a vicious circle whereby the poor are penalized because of who they are and how the education service fails them. Here’s a general view of the problem.

It confirms the basic need is to give the poor a good education in a safe environment and create jobs for them to do. The failure of cities like Detroit is a warning we’re not doing enough for the disadvantaged people in America. Educational provision is often directed to the middle and upper class areas where the “better students” are said to live. It all becomes a self-fulfilling prophesy where the advantaged get on and the disadvantaged are left to pick up bills they increasingly can’t afford to pay.

Zip codes and credit scores

The final two nails in the coffin are where people live and their credit scores. People who don’t have the right educational qualifications can’t get the best jobs so can’t afford to live in the better parts of towns and cities. Because they struggle for money, they have poor credit scores. The prejudice is therefore that these people are irresponsible and potentially criminal. If they get into financial trouble, they are likely to steal cars or, having insured their own car with comprehensive cover, set fire to it and make a false claim. This is why some states have imposed detailed regulations which prevent insurers from taking the zip code or credit score into account.

In these states, the car insurance quotes come in at a more even level across the different neighborhoods. In other states which allow insurers to rate the areas where people live based on the crime statistics, there can be up to 80% difference in the quoted premium rates between one neighborhood and another. If you think you might try to avoid this penalty by giving a relative’s address as your own, here’s a warning:

If the insurers realize the deception, they will refuse all claims and can refer you for prosecution. Sadly the fact this approach to setting rates actively discriminates against the poor who often belong to racial minorities is not something the insurers like to discuss. In theory, there are laws to prevent discrimination against people based on their race. Assessing higher auto insurance quotes for these groups is based on statistical evidence not their race. Or that’s would the insurers would like you to believe.

Reviewing your present policy and new life insurance quotes to save

If you are like most people, you buy your life insurance and forget about it. You make your scheduled payments, you file your statements away, and that’s it. However, it is in your best interest to review your policy periodically.

Anytime you have a legal change in your life you need to update your policy to ensure it passes to your beneficiaries if need be, or you have access to its value when you need it. If you marry or divorce, you need to update your policy. If you have a child, you should at least review the policy to make sure your preferences are covered.

If you experience a death in your family, review your policy to ensure that the deceased is not a beneficiary. For instance, your wife is the primary beneficiary of your policy but you have one or more of your children listed as secondary beneficiaries, and she passes before you. The policy will not automatically carry over to your children upon your death. They were secondary’s only if you and your wife passed at the same time (like the result of an accident). Your policy must be updated with the removal of your deceased beneficiary and new beneficiaries clearly spelled out.

If you have whole life of universal life insurance coverage, there is an investment element to your policy. You may have had the policy for a number of years and your living circumstances have changed. Statistically nearly, 50% of whole life policies are surrendered within 10 years. Maybe you are getting ready to retire, or you need to cover some unexpected expenses. It is a good to look at the value of your policy. You have two possible options; one to take a loan against the policy, the other is to cash it out. You will need to assess the surrender value and the cash value. The surrender value is the cash value of the policy minus any fees taken at the time of cashing in the policy (surrendering). Look to see if you have the option of taking a loan out against the policy instead of surrendering it.

It is not a bad idea when things have changed in your life to get new life insurance quotes to compare with what you have, make sure you are adequately covered and know your premiums are in line with the proper costs. Use our site to help you get quotes form reputable insurers in your area.

Considered special policies for small business

You are one of the honorable business entrepreneurs that the government is trying so hard to encourage. You work diligently to keep your company running in the black. You are proud about what you and your employees accomplish each week, and at the end of the year. You act responsibly and have a small business insurance policy. You make sure there is no lapse in coverage by paying on time, but do you know if you have a lapse in coverage because you policy does not completely protect your business.

In this economy, many business owners are paring down what they have in their insurance to keep the cost down. You know you have to set daily goals, but keeping your eye on the big picture is how you stay in business. Lapses in small business insurance are often penny wise but dollar stupid.

Many small businesses purchase a BOP (Business owner policy) and think that they have everything covered. A BOP is a great umbrella that does offer an affordable way to combine different types of policies. Just make sure it covers everything that you need. If it doesn’t, consider adding:

EPLI Employee Protection Liability Insurance

For small business without a dedicated HR department that continually monitors and trains your personal in how to behave within the law, you may be open to suits and torts for sexual harassment, disgruntled employees, and the like.

Key Person Insurance

You can purchase a Key person policy for more than one individual and pays out upon the death of the first person out of those listed. Many family owned business end abruptly when the founder dies unexpectedly. All too often the husband dies in an accident, and the wife and family are forced to bankruptcy because no contingency plan was put in place. Key person policy avoids this unfortunate outcome.

Care Custody and Control

If you business handles products that belong to a client that you either modify, enhance or transport; and or it is in your possession at point in time, you need to protect against damage or loss. The value your client’s products are not necesarlily part or your common liability package.

As a responsible entrepreneur, you should take time to review your small business insurance policy at least once a year. Let us help you by guiding you through the review and give you a free no obligation quote today.

Business insurance and social media marketing

Before the internet really got going, few would have dared speculate it would become one of the major driving forces for selling goods and services. Yet, just a few years later, businesses routinely maintain a website describing their wares and hope to spread enthusiasm for their products through interacting with their customers on sites like Facebook. It’s often said that knowledge is power and, in this case, the internet is a great opportunity to make knowledge available to the largest possible number of people. Yet the reverse is equally possible. Just as your business can praise its products, so unhappy customers can spread news of their experiences. Never forget the internet encourages dialogue and, once people have a voice, they like to make themselves heard. The fact both sides may be talking about the same brands may do nothing to enhance the reputation of the brands. The problem for the marketers is how to maintain the reputation and control the message.

In some cases, with a responsible group of employees delivering services and sound manufacturing techniques, there’s little for the trolls to complain about and everything goes smoothly. But if people with hundreds of “friends” on Facebook or Twitter decide to pass on bad experiences, word-of-mouth can quick damage reputation. Even YouTube has become unsafe because although no one can change the video, there are still opportunities to comment underneath. This raises a dilemma. Should your business reply? The same applies in forums and chat rooms where your goods and services are being discussed. Without some active intervention to manage the comments or put the other side of the argument, great damage can be done. Indeed, many business now employ reputation managers to survey the internet every day, and respond as and when adverse comments are made.

Unfortunately, all these different media were developed long after insurance companies laid down their terms and conditions. The result is some potential gaps in the coverage your business might receive. As an example, suppose one agent replies to comments by making a number of statements about the safety and effectiveness of your products. Obviously, these statements were probably not approved by your in-house counsel or attorney. Indeed, the very words used may be loose so that the comments fit into the chat room or forum environment. If there’s a product liability case and these unapproved statements are shown to be false, misleading or negligent, your business just picked up a larger liability.

The same would be true if you pay people to write glowing testimonials and reviews on the different sites. As the owner of the brands involved, your business could be exposed to liability. It might not be to damages. Without insurance cover for attorney expenses, even defending the case could leave you significantly out of pocket. If your marketing department is embracing the social media route, you need to take out your business insurance policy and check to see exactly what is covered. If the wording is uncertain, you should perform a risk analysis. If the risk is high, you should pay for additional cover to match the business insurance to the actual business policies you follow. Without this, your risk profile worsens every time someone replies to comments anywhere on the internet.

Life Insurance’s Profitability Declines, Consumers Save?

The numbers are in and AIG, Allstate, Metlife, State Farm, and New York Life are not going to be happy-their industry continues to decline in profitability. This slide began in 2007 and shows no sign of letting up in 2010.

The numbers come from industry data collector and analyst SNL Financial, who showed that the industry lost over $900 million in quarter-two of 2010. Their net income, not profit, is down from this same time last year.

The bright side, the better capital and surplus numbers that are 17% higher than second-quarter 2009, are not enough to restore confidence in share-holders and brokers on Wall Street either.

However, the big shots at AIG, New York Life, etc, are still talking quite a game. They claim that the present market is an opportunity to grow stronger. They see that 2/3 of Americans are uninsured and think that they can capitalize on it. It’s tempting to dismiss this as bombast meant to boost the company’s stock prices. However, they are backing it up with action.

Tens of thousands of new agents are being hired this quarter. And hiring shows no signs of slowing down.

The economy scared these people away from life insurance in the first place and it certainly hasn’t gotten much better, so why are they so confident?

There is a formula of sorts that is very popular among these companies. It’s something along these lines: the economic crisis + tax hikes (end of tax cuts) = more customers.

If this equation doesn’t quite make sense to you, that’s normal. It doesn’t really make sense. It is kind of optimistic, but that’s good for you. We’ll get to that. For now, here’s another piece of information that might make sense.

They are going to rebrand.

Instead of just something you need to have in case you die so your family is secure, they are going to try to convince the public that life insurance is a financial investment-something that will allow the policy-holder to hedge their bets in a risky economy and be certain they don’t lose money while covering their butts.

This still might not make sense to you if you’re not a finance guru, and that’s okay! Because here’s the bottom line for the consumer is coming up. Fast ball, down the middle. Hit it out of the park now!

It’s never been a better time to buy life insurance.

They decrease in profits and the mass hiring of agents means one thing: they are as close as desperate to get you on a policy as they are likely to get. Given that Americans need life insurance more than ever before, you should be in the market.

You’ll get a better price on good coverage than you have ever gotten in the past and are likely to get in the future as the economy recovers.

You don’t have to talk to an agent though. Whittle the prices down even lower by comparing quotes online. Free life insurance quotes in this market will save you more money than you thought possible.

How companies caculate the lost property replacement

The whole point of any insurance deal is to shift the risk from your own pocket to the pockets of all the other insured. Spreading the costs among a big pool of other businesses reduces your own payments. But the main issue is always going to be the way in which the insurer values the loss if and when you make a claim. Although it’s an obvious statement that you do not want your own business to pay for replacing property used in the business, exactly how do you ensure the premium is less than the cost of replacement? So how the lost property replacement is calculated?

Property replacement formulas used by business insurance companies

The first factor for this is a fair market value. The formula is the price paid less the depreciation. For instance, your business may use a truck for delivery purposes. For tax purposes, you will be allowed to write down a percentage of the truck’s value every year. So, if the vehicle is seriously damaged, the actual cash value would be the book value measured against the average prices in the secondhand market for vehicles of a similar age. This reflects a basic truth that the standard policy will not buy new for old. As a general rule, you cannot make a profit out of the insurance policy. If you got a new vehicle for one that was three-years old, you would be benefitting unfairly, particularly if the manufacturer’s price had increased over the three years.

Then comes a simple paying out the cost of replacing the property and this is a better deal potentially. As an example, take the loss of stock whether as raw materials or for sale. Suppose you have a store of clay for making pottery. You want to be in no worse position so want the insurer to replace the volume of clay lost even though the price may have risen in the local market. It would be the same for any manufactured stock held for sale. Whether you manufactured it or bought it in, you need to replace it. Often this type of stock is circulating and will not be subject to depreciation so paying the extra premium rate for replacement may be better value.

Finally, the third factor is an assessment of whether there has been any other loss flowing from the loss of the individual assets in case the business has suffered other losses while the property loss. Consequential losses are always a difficult area and this is something you need to check with your business insurances provider. Say, for example, you are in a supply chain and subject to penalties if the parts you manufacture are not delivered on time. The next batch is destroyed in a fire and the penalty is applied. Now your loss is the cost of replacement plus the amount of the penalty. A business covrage is all about balancing the cost of the premium against the security you buy. Make sure you understand how the insurers value loss before you sign up for your next policy.

Insuring your bar or tavern

When trying to insure your bar, tavern or any other place that sells alcohol, the most important thing is to plan everything ahead. By selling alcohol to the public your business automatically engages in a higher degree of risk that has to be assessed right from the start.

So when you’re looking for a way to manage the risks that your bar or tavern will face during operation you have to ask some questions first:

What is the approximate value of your bar, including the property, fixtures and contents?

The best way to evaluate these costs is to consider the value of replacing your entire bar, including the equipment, coolers, the décor, stock, property, building and all other things if your business would get destroyed overnight.

What part of the business turnover will the alcohol take?

The insurance company will certainly require you to provide reports of your sales. In overall, if the alcohol takes about 50% of your overall turnover or more, the cost of insuring your business will be more expensive. So make sure you know the exact percentage of alcohol sales in your bar.

Will you feature any recreational activities at your bar?

Featuring certain recreational activities may give you a hard time getting your bar insured with some companies, and if you will still manage to find a policy, the rates will be higher. Insurance companies assess recreational features such as dance poles, trampolines, pyrotechnics, rock walls, swimming pools and any other distractions as quite risky features that will raise the likelihood of an insurance claim.

Will you hire someone else?

If your bar will feature additional workers besides you, you will certainly require workers’ compensation insurance with your small business insurance policy, and it maybe even important to get group health insurance as well.

Does you state have special dram shop liability laws?

Laws can differ significantly from one state to another, and this also concerns the liability to a third party in case of injuries inflicted by a drunken person at your bar. So it is highly recommended to study the local framework before you actually purchase and y specific coverage regarding this type of liability.

Will your business have a vehicle?

In case your bar or restaurant will have its own vehicle used for stock delivery or other business purposes then you will have to buy commercial auto insurance for this vehicle as well, otherwise it won’t be covered by a standard auto insurance policy. Using your personal transport for these purposes is not forbidden but you risk being denied of coverage in case of an accident.

Is your bar located in a risky area?

If your business is located in an area that is prone to natural calamities you have to include additional coverage to your small business insurance as well. Sure, it may be a great thing to have a few cocktails right at the beach but will your bar get covered properly when the hurricanes come? Make sure it does when buying small business insurance.

Will you serve any foods at the bar?

See if your bar or tavern will serve any foods and include respective coverage into your policy.

Life insurance to make your life easier

What is the most precious thing on Earth? No, that is not a diamond or any other precious stone. It is life, for sure. Life is diamond-like, precious and important to be looked well after. But unfortunately, life has one big disadvantage – it ends. So we have to take good care of ourselves if we want to live longer.

Being people with thoughts and feelings we can’t help but wonder what will happen in this or that case that may occur. We are afraid of death for many reasons. First of all being, of course, the end of life. But also when we think of death our relatives or family come to mind. They are important for us and we are not indifferent to their fate. We want to make sure they won’t experience any financial difficulties if some accident happens.

There are many companies that want to make you their client. They will usually put an accent on the necessity of the insurance plan and make you purchase the deal because you will feel you can’t exist without it, though you seemed to cope before.

There are two categories of insurance plans for those who are interested. The choice is not that difficult to make. You just have to concentrate on your major priorities. There are factors that can place accents on your priorities. Those are age, number on dependents from your side and financial situation. Once those are in correct order, everything will be perfect for you.

So as we previously mentioned, there are few types of insurance plans. To be precise, there is term insurance and cash value insurance.

Term insurance protects from a certain date to a certain date. It is temporary insurance that covers a specific period of time. If something happens to you during that time, your family or relatives (people that you’ve indicated in your application) will profit of the death benefit. This insurance is not as expensive as the cash value one. This insurance is very profitable for those who purchase it for specific reasons.

Cash value insurance will provide insurance for you all your life long if you wish for it to be so. It is like turning into an owner of some property. You build up cash value. This will be the amount that you will be able to spend on some emergency cases related to money and health problems. It will also pay income-tax-free death benefit if you die.

There different categories of people that buy these insurance plans. You have to set priorities to figure out what you need most. Life insurance is important to have.

It is not too complicated to get a good offer nowadays. Companies are willing to negotiate and attract you. There is also an element of competition that allows patients some variety in choice. Online companies are bombarding our e-mails with discounts that are very attractive and easy to fall for. But you have to remember that this is not a pair of sneakers that you can throw away if they don’t fit you well, this is your health we are talking about, that is why it is necessary to stay focused while making a decision.

Cheap life insurance will be good news for you especially when there are no disappointments later on. Get your life insurance quotes today and keep yourself safe starting from tomorrow!

Can technology help getting cheap auto insurance?

The world has been changing vary fast, not letting us always to realize it. Back in in 1908 when the Model T first rolled out on to our roads, the noise really did frighten the horses and you could hear those cars coming from a big distance. Now modern can roll up behind you without you noticing anything. The engine of 21st century is a miracle of silence and speed. Ironically, we have almost arrived at the level of noiseless travel where the old Rolls Royce promise would come true. One hundred years ago, the ads said the loudest thing you would hear was the clock ticking. Now with digital clocks there’s no ticks to disturb the peace. And wherever you look it seems the advancing technology has altered the world completely. It can be in the design of the suspension and braking systems to produce safer handling. You should be surprised at the way the body crumples in a collision to absorb the impact and reduce the injuries to those inside though we usually take it as it stands to reason.

If only the investment of all this intelligence into the design of our vehicles produced cheap auto insurance rates! Well, in one sense, this is already happening, but not always. The insurerance companies work with the government in agreeing the standards for crash-testing the current range of makes and models. Those which do the best are awarded lower rates. If you follow the government recommendations you can benefit safety premium on the safest vehicles. There’s just one problem. This new technology is not yet really cheap. Some of the safest vehicles are actually more expensive to insure inspite all cause of the higher maintenance and repairs costs. Thta’s a greta idea to absorb the force of an impact by having body panels crumple. But again, after even a relatively minor collision, it can require the replacement of more bodywork at biting prices compared the old-fashioned vehicles. The cost is going to gradually fall of course with the market growth and mass manufacturing reduces the cost of spares. But, until then, the benefit of cheaper rates is not something real.

Another achievement of the technology is the ability for the vehicle to drive itself. Radar systems are put into more automobiles .The Japanese have gone one step further with the Lexus LS 460L that will take all the pain out of parallel parking. Manufacturers are looking to apply technology to freeway driving. All it would take is a wire running down the center of each lane and you could have hands-free journeys. Although it would require trusting our lives in the technology, the risk of accidents on long journeys significantly reduces.

It seems such advances will lead us to cheap auto insurance tomorrow as the drivers are slowly replaced by computers. So it is long-term planning to focus on buying the safest makes and models you can afford and look forward to the auto insurance to lower and keep you happy.