Business Loan Vs Merchant Cash Advance. Which One is Best? When the time comes to seek extra funding for your business’s, you get caught in a tight spot between two options: a small business loan or merchant cash advance. While both can serve whatever purpose you intend, you should learn their differences and what to…
What are some of the things that a young adult should know when it is time to move out of the house? If they are renting an apartment they should know that there will be utility bills to keep the water, lights and heat on. If they do not know what it will run them on a monthly basis then they can call the utility company to see what the average monthly charge was for the year for the last renter. They should know that there is rent to be paid, this is obvious, but what is not obvious is the late charge that the rent will accumulate if it is late. They should know the date the rent is due and the grace period they have before a late charge is assessed on their bill. They should know when to put out the trash for collection.
This is important since they do not want to keep the rubbish in the house and wait until it collects bugs. Then they will have to hire an exterminator. If they have to purchase furniture, then they should know what the monthly payment will be even if they get a promotional deal that says no interest for a year. If they are not careful they will acquire late charges and interest charges. Car insurance, if they have a vehicle then they should go online and research free auto insurance quotes to purchase an auto insurance policy. They may think that they are still covered under the previous policy they had at their parent’s home.
Buying food, they will have to learn how to budget their money. In the past, if they wanted something they probably went to mom and asked for a few bucks and got what they needed. The most important thing is another adult to talk to and to make sure that they know these things. We know what to do when we move some place and what to pay and plan on for money. We have been there but the first time it happened we were not aware of all these things and found out the hard way. When you have a child moving out of the house go over these things as soon as they are talking about moving out.
The first thing you can help them with is to search online for auto insurance quotes so they will see some of the companies return their quotes and know that there is a choice to make. Remind them that when they leave that maintaining and keeping current auto insurance will be their responsibility. Growing up, having an apartment, owning an automobile and paying for car insurance are responsibilities that we become use to doing.
Buying student auto insurance isn’t exactly an easy task, especially if you’re doing it for the first time. You don’t want to end up paying an arm and a leg for minimal coverage, but you want coverage from a company you can count on. Is it possible to get quality auto insurance for students without breaking the bank? Here are some things to keep in mind.
1. Parent Policy Additions
Many parents opt to put their students on their own policy when they begin to drive. While this is a great way to keep student insurance premiums as low as possible it can be a little risky as far as the parents are concerned. If a minor is irresponsible and drives recklessly or has an accident then the parents will be responsible, and it will cost them with higher insurance premiums in the future. In fact, a parent could lose their auto policy altogether at the hands of their student drivers. Many parents are not willing to take this chance.
2. Good Grade Discounts
If a student is on their own in getting an insurance policy they may be able to take advantage of certain discounts geared towards students. If you have good grades then your insurance company may reward you for it. Ask about good grade discounts and other discounts available designed to help make student auto insurance more affordable.
Students do pay more for their own policies. While it may not seem fair it’s important to understand that it’s because students are some of the riskiest drivers to insure. Fortunately, with time and a proven driving record, those rates will eventually go down. Shop around for the best student rates you can get at the moment and in time, when you prove you are a responsible driver, you will be entitled to a lower insurance premium.
Is your auto insurance sufficient for where you drive or park your car? It happens too many times to count: Parked cars are often easy marks for thieves looking to grab phones, GPS devices, mp3 players, whatever they can get their hands on. Most parking garages have signs everywhere warning patrons to lock valuables in the trunk or glove box or to take them out of the vehicle. However, despite the warnings, statistics indicate that cars in a parking garage are more likely to be broken into than a car parked on the street or in front of a home.
Many times, when a car is broken into, the owner figures that the stolen items are simply a loss. Especially if only one or two items were stolen, they may assume that it will not be worth it to file a claim or that the amount of the items will not meet the deductible. However, it is always a good idea to check your policy or contact your auto insurance company to check. Auto insurance is not a one-size-fits-all equation, and you may have benefits of which you are unaware.
Some policies have coverage for damage that is caused by something other than a collision. Usually, we anticipate that if our auto is going to come to any harm, it will be because of a crash. However, cars can be damaged from fire, theft, flood, hail, vandalism, and many other things. Although it is not necessary for drivers in most states to carry insurance for situations such as these, many policies do include coverage for damages that result from situations other than collisions. Even if you cannot be compensated for items that were stolen from your vehicle, you may be able to recover the cost of repairing any part of the car that was damaged during the break in.
Some articles that were in the vehicle may actually be covered under your homeowner’s or renter’s insurance. Even though these forms of insurance normally only cover articles that are in your home or apartment, some policies make provisions for the fact that you often take valuable possessions with you when you leave your residence. It is worthwhile to ascertain if your personal property insurance policy will cover the replacement cost of any items stolen from your vehicle, even when your auto insurance will not.
Of course, the best course of action is to make sure that there are no valuables left behind in your vehicle for anyone to steal, but since that is not always practical, and since you normally are not worried about theft until after it has occurred, it is a good idea to find out what sorts of things are covered by your auto insurance and to consider increasing your coverage if you determine that it is inadequate for your needs.
Did you know that insurance companies calculate auto insurance and credit score ratings together to determine what your premiums will be? Most car insurers now factor in your credit score not only to to determine how much of a risk you are but also what programs you are eligible for.
Car insurance companies have to carefully calculate risk factors to keep their policy rates competitive and still make a good profit. So they use risk modeling to help them come up with an insurance risk score and your credit report is part of that.
How It Works
Each insurance company has their own way of insurance scoring and this involves more than just your credit report. But you can almost be certain that a person with a lower credit score will pay more for car insurance than someone with a high score.
Car insurance companies refer to many studies that have shown that a person with a bad credit history has a more risky behavior which in turn involves more claims being filed. The studies also show a person with a good credit score is more trustworthy and much less likely to file a claim.
Whether this is actually true or not, an insurance company insures against risk so the more risky you are the higher premium you will pay. The bottom line is if your credit score is below 650, you will most likely pay higher rates in most states. That’s why it pays to shop around for rates because each company uses different insurance score models in relation to credit scores to decide on premiums.
What You Can Do About It
Over seventy percent of all credit reports have errors and those errors could be raising you rates. So get a copy of your credit report and score. Remember, if you request a copy of your credit report, it’s considered a soft inquiry which means it doesn’t affect your score.
Once you get your report, look for old or outdated information as well as any wrong information. If you find any mistakes, contact the credit bureau reporting the error and have a copy of the document that proves the error.
The same with any outdated items that you have taken care of or paid off that is still showing up. Have the proof ready and send them a copy to get it removed from your credit report. Make sure it’s a copy because they won’t return any documents to you. Once those items are removed, you can contact your insurance company and send them a copy of your credit report so you can start saving money.
This won’t happen over night but it will eventually help you to pay less for your auto insurance especially if your credit score was lower because of errors. Raising your credit score also has other benefits like lower interest rates on anything you buy on credit.
What you pay for auto insurance and credit score ratings may have nothing to do with how good a driver you are, but the reality is that your credit score will most likely have an impact on what you will pay for your auto insurance premiums.
Have you compared your auto insurance rate with other company’s rates? Are you getting all the discounts you’re eligible for? Do you have the highest deductible you can afford? If not, the odds are you’re paying too much for your auto insurance.
Here’s how to stop overpaying on your insurance …
Remove All Unnecessary Coverage
Many companies add coverages to your policy you may not want without your knowing. Some of these coverages include rental car coverage (your credit card probably covers this), mechanical breakdown coverage (rarely pays off), and other services you may not need or want. Check your policy to see if you have any unnecessary coverages and have your agent remove them.
Get All the Discounts You’re Eligible For
Insurance companies offer a host of discounts, but they don’t always tell you about them. Be sure to ask your company representative to tell you about all the discounts you’re eligible for and include them in your policy
Drop Collision and Comprehensive Coverage on Older Cars
If you drive an older car the cost of your insurance may be more than the cost to replace your car if you were to have an accident. If your premium plus your deductible is more than the value of your car, consider dropping your collision and comprehensive coverage.
Consolidate Your Auto and Homeowners Policies
You can save up to 15% on your insurance premium by placing both your auto and homeowners insurance with the same company.
Compare Rates With Other Companies
Insurance rates can vary by hundreds of dollars from one company to the next. Company A may charge $1,800 a year for their policy, while company B will charge $1,200 for the exact same coverage.
The best way to save money on your auto insurance is to compare rates with other companies, and the easiest way to do it is to go to an insurance comparison websites.
At these sites you’ll fill out a simple online form with your insurance information – name, address, driving history, type of car, and the coverage you want – then you’ll receive quotes from a number of A-rated insurance companies.
The Bottom Line
If you follow the above guidelines you can save up to 75% on your auto insurance. Not bad for spending a few minutes checking your policy, dropping unnecessary coverage, getting all the discounts you can, and comparing rates with other companies.
If you have not yet purchased business auto insurance, you are probably still not aware of the advantages of doing so. You are making a decision which will benefit your company and personnel tremendously when you get such a policy for your business. All you need to do is to carry out a search online for the insurance agency which can offer you a policy that caters to your company’s needs. If you still cannot decide if you should get such a policy for your business, the 6 advantages below will very likely help you to make up you mind.
1. Protection From Accident Claims
When accidents happen, the vehicle owners will be financial burdened because of the payments you might have to make for damages to your car as well as for possible claims against you by the other party. However, if you have a business auto insurance, your insurance company will pay for the claims and you will not suffer excessive financial losses.
2. Payments For Medical Treatments
Should there be injuries during an accident, you will also have to face medical payments but this could be covered by your insurance. Some policies will even cover the drivers who might not be insured.
3. Coverage For Employees’ Private Cars
For some companies, the employees might have to utilize their private cars for business purposes. You could also opt to have your employees’ cars insured, thereby raising the morale and spirit of your staff. This is a step to show that you care about their well-being and they will be more loyal towards you and your business.
4. Coverage For Minor Damages
Some drivers might overlook this area but in case of damages due to a break-in or vandalism, you do not want to fork out large sums of money to repair your vehicle. Coverage in such minor areas can help to prevent unnecessary financial burden.
5. Coverage For Uninsured Motorists In Accidents
Sometimes, other motorists who are involved in the accident might not be insured and might claim against you. That will cause you to suffer losses but with a business auto insurance, you could include coverage for expenses incurred during such accidents.
6. Other Areas
When you are choosing your auto insurance for your company, you can include additional items such as the significant operations of your business, your business vehicles, regardless of whether they are rented or bought.
As such, in order to protect your business and to ensure its smooth running, you need to speak to an expert from the insurance company. This officer will be able to assess the needs of your business and propose a suitable business auto insurance for you. You can call for a free consultation anytime should you require special assistance but the vital point is that you start searching for a policy soon.
Most states require automobile owners to re-register their vehicles annually. Depending on the class of the automobile the owner will either take the car to the DMV to get it re-registered or he can do it online. The government seems to have realized how important it is to continuously review your automobile regularly against new or updated checking criteria.
Today the world is changing rapidly. This pace of changes is also taking place in the automobile industry more so in the auto insurance industry. Automobile owners should realize that what were facts about their policy rates and requirements 1, 2 or more years back may not be facts today. Policy holders should try to annually review there auto insurance policy regularly in order to identify new opportunities to update their policies and make some savings. If the last time you reviewed your policy was some years back you should consider reviewing it and once reviewed you will realize that you have been wasting a lot of money on charges you should not be paying or you have missed out on discounts you qualify for. Below are 3 ways you can review to lower your insurance premiums
First, like any other purchases, shop around. Get as many quotes as possible from various insurers. From this information you will be able to work out what is the average rate for your particular auto insurance policy and based on your results you can do a comparison with what you are paying and if there is a difference. You can switch insurers so as to save the difference.
Second, clear any outstanding debt on your car loan. The faster you pay your automobile loan the greater the options you have on what insurance policy you can take. If you have cleared the car you can take the cheapest insurance.
Finally, maintain a good driving record. The better your record the less of a risk you are. In the insurance business the lower the risk the lower the insurance coverage quotes.
Insurance is important when it comes to something valuable. Thus, auto insurance is a necessity that provides protection against damages that may occur during traffic ancients and against liability that may arise there. There are two types of auto insurances, one is long-term car insurance, while other is short-term car insurance. Though many people prefer going for long-term insurances, yet during certain situations, going for short-term insurances are very beneficial.
During New Purchase:
Say you have just purchased a new car and want to drive it to your home. However, you have not decided on its insurance till now. If you have bought it out of your state or at your native dealer, going for short-term car insurance will help you to reach your car to your home safely.
During Exchanging Vehicles:
If you are one of those people who likes to switch cars often for profit and thus doesn’t know for how long you are going to have it, in this kind of situation going for short-term will come in handy.
In Case of Rental Car:
Apart from all these, while going for a vacation or holiday with family and friends in a rental car, short-term car insurance is considered necessary. The companies that provide car rent service to people generally have their own insurance that you can buy. Usually, these insurance policies provided by these car rent companies are quite expensive. Therefore going for short-term from your insurance provider would be better option here.
Days of Scarcity:
In case you don’t have enough money to pay your bills and even don’t have the need to drive your car on regular basis, then there is no reason to for long-term car insurance. Going for short-term will be beneficial here.
A lot of people are there who don’t use their vehicle on daily basis. They are the occasional drivers and when it’s an urgent need of going top a distant place, they drive their car, here short-term car insurance can fulfill the essential need of car insurance.
In Case of Alternative Driver:
Moreover, if you are not driving your own vehicle and one of your good friends or family member is driving it or someone else has borrowed your car to go somewhere, in this case they may get involve in accident and you may assume complete liability. Here comes the importance of short-term car insurance. It will not only provide you the protection that is required here, but also will make you relax if anything of that sort happens.
Now, it’s worth pointing out that the average auto insurance premium in the country is around $1,500. Some states will have average premiums which exceed this value while others will have less than that. In large cities with high density populations and high traffic problems, the average premiums will naturally be a bit higher than the national average, whereas in small towns with low levels of traffic accidents, the average premiums will be significantly lower.
Now, as important as premiums may be, what’s more important is that you understand the factors which influence them. And there are quite a few of them.
Every state and city will have different traffic laws as well as traffic related problems. It is these factors which vehicle insurance providers take into account when computing the premiums of their clients.
And what are these factors? Well, here are among the most common of them all. And it should be kept in mind that their importance varies.
Speed Limit in Cities – The Speed Limit in a particular town or city can have a tremendous effect on traffic accidents. As such, they are considered as serious factors in the computation of car insurance premiums.
Speed Limit On Highways – Considering that a significant proportion of accidents happen on highways. It shouldn’t come as a surprise why many car insurance providers will take this particular issue into account.
Blood Alcohol Percentage Limit – As you might guess, the blood alcohol limit in a particular city influences incidents of DUI-related issues. And it is because of this that it is taken seriously by most car insurance companies.
Open Container Law – Like the Blood Alcohol Percentage Limit, this law is something which car insurance companies take into consideration very seriously because it influences cases of DUI.
Handheld Cell Phones – Laws with regards to the using of Handheld Cellphones is sometimes taken into account by auto insurance companies, especially those operating in cities where some incidents of traffic collision is related to cellphones.
License Suspension on DUI – License suspensions due to DUI – DWI can last for months. The severity of these kinds of laws can influence the car insurance market in more ways than one.
These are some of the state laws that you can expect to be a serious factor in the computation of your car insurance premiums. Some insurance companies will use them. Others will not. It’s all a matter of knowing.