LIABILITY INSURANCE: (DEFINITION, FORMS, AND BENEFITS)

LIABILITY INSURANCE FOR BEGINNERS

Liability Coverage Liability insurance is a kind of insurance policy that takes over every liability incurred by you or you caused an injury on someone by your property then you could find yourself legally liable for the expenses. In this sense, it is very advisable to know what your insurance company or policies provide and what it is limited to. It is typically offered as a component of a number of insurance policies from auto/car to home and to boat.

We shall be discussing briefly how auto liability insurance may/can help offer protection. Liability insurance protects the insured in the event he/she is sued for claims that come within the  insurance coverage.. The modern system relies on deducted carrier usually for profit, to offer protection against stated perils when trying to consider a premium.

This liability insurance is mostly designed to offer specific protection against third party insurance claims that is as discussed above, payment are not paid to the insured but to someone suffering loss and isn't a party to the coverage agreement. Therefore damaged caused intentionally as well as contractual liabilities are not covered under liability insurance policies. When a claim is made, the insurance provider has the responsibility and right  to guard the insured..

Liability insurer has one, two or three major duties depending upon the jurisdiction.

1) The duty to identify.

2) The duty to defend.

3) The responsibility to settle a reasonably clear claim

In most U.S state and Canada, the insurer generally has four main options at this point to:

1) Defend the insured unconditionally

2) Defend the insured under a reservation of right.

3) Defend to defend or to seek a declaratory management.

To settle reasonable claim

1) In some prediction, there is a third party duty, the duty to settle a reasonably over claim against the insured. This duty is generally triggered only if the reasonable opportunity to settle actual arises, either because plaintiff makes a settlement offer or the insurer is another of information to the effect that the plaintiff could take delivery of a settlement offer .

The insurer is neither required to inhale an offer to a plaintiff likely to refuse it not required to accept an outrageous offer from a plaintiff who filed a frivolous lawsuit and can't succeed against the insured under any concept.   

In the effects of breach:

In the effect of breach, all insurance companies have then terms and conditions as which insurers are allowed to go through. Take a decision on if to accept or reject. It is advisable for an insurer to go through this terms and conditions of these companies probably like 3(three) of it and then access properly to know the one that truly works best for you or favors you and your needs.

There are three forms of liability insurance

1)    Public liability

2)    Professional liability

3)    Product liability

a.Public liability insurance: this covers a person a business and event, a contractor- even a community building – for cost form legal action if they are found liable for   loss of life or harm, loss or damage of assets or financial loss as a result of their negligence. Public liability insurance won’t usually cover you if you are insured in known hazardous activities or communal action, though you might find out that you are covered for public liability and as well as other insurance product or even a properly insurance coverage. In other words each company have lists of areas their public liability covers, make sure you know what your total public liability amount of cover is and that it is sufficient for your desires especially if the coverage is packaged with other cover.

b.Professional liability Insurance: This protects you from legal action taken against you if someone suffers a loss after following your professional advice or as a result of you receiving of your service. There are different kinds of indemnity insurance as there are certain professional indemnities Insurance ascertained to profession like in the medical indemnity insurance as requirement of their professional registration or licensing.

c.Product liability Insurance: This kind of insurance covers you for a damage or injury that you might cause to another business or person by your product or service. This type of insurance is very important because people who behave that they have been injured by your product can take action against you as a manufacturer or importer. In many cases, this action can be taken without the person who sues you having without the person who sues you having to prove you were negligent or had any intention to cause harm.


    Other type of Car Insurance: Personal Injury Protection


    Next: Personal Injury Protection Here

PERSONAL INJURY PROTECTION | THE BASICS

PERSONAL INJURY PROTECTION: Personal injury protection (PIP) is something that is advisable to partake in. The cost associated from an accident can quickly add up and in order to cover those costs personal injury protection is available. With this coverage, your medical bills along with those of your passengers will the paid no matter who is at fault for an accident.

Note: This coverage is not available in all state so you should cross-examine or reach me out to do the findings for you                                 

In addition, Personal Injury Protection is about financial protection for you and your family. The personal liability insurance within your homeowners coverage gives coverage for physical harm and property damage sustained through others for which you or protected residents of your family are legally accountable.

For example if you fall down your stairs or if your accidentally throws a ball through a neighbor’s window breaking an expensive vase, you may be held legally responsible for the damages caused or let’s say a quest visit your home and while walking through your garage is hit by a falling ladder the guest suffers a broken arm and sues you for damages which can be thousands of dollars, this is where personal liability insurance can kick in, the insurance will cover the cost of medical bills as well as your legal defense fees up to the limit of your liability coverage, some / or most personal liability insurance coverage may also be able to cover an incident that occurs outside your home or property.

Note: Be sure to carefully review your home or renters policy so that you have a solid understanding of what is and isn’t covered by personal liability insurance. Personal liability insurance differs from company to company so choose the one that best suits.

PERSONAL INJURY CLAIM | HOW YOU CAN MAKE A CLAIM SUCCESSFULLY

PERSONAL INJURY CLAIMS | EVERYTHING YOU NEED TO KNOW

You can be hurt by a third party and make a claim against such party by filing out a legal case. At most cases, you feel hurt by someone else’s fault and decide to make a claim on the third party/ offender’s insurance through his/her insurance company thereby receiving compensation for loss or injury that the third party might have caused you, this process is called personal injury claims. In simpler form, personal injury claims is a legal case you file out if you have been injured in an accident by which the fault is from that person and the person who is called the third party offers compensation for loss.

The process of making a claim is usually called a lawsuit. Law suits are report filed against whoever caused harm to you through reckless conduct or negligence. The compensation for negligence is usually in monetary form through a settlement or a judgment ( as in the case of court decisions). Most personal injury cases are not negligence of the other party but in some cases the third party may intentionally carryout this act of defamation or form reckless conduct thereby causing injury or damages.

In other to hold the party or parties that caused you injury or damage based upon negligence, there are certain elements you must consider for such claim to be valid:

1 That the party breached the duty

2 The party’s breach of duty caused you to be harmed

3 The party had a duty to act reasonably to the circumstances.

4 You suffered monetary damage due to the harm you suffered when the party breached its duty of care.

It should be noted that claims are not just fused upon the third party in any way he/she feels like, it primarily depends on the seriousness of the injury (e.g brain damage or resulting to loss of memory, broken bones e.t.c). These kinds of injuries receive higher injury settlements.

PERSONAL INJURY CLAIMS: HOW DOES IT BEGIN

In most cases, personal injury claims begins by filing a case with a document by the court which is called a complaint. This complaint documents features the parties to the case, what the defendant did wrong?, what went wrong that can cause the injury and what kind of complaint the plaintiff is seeking…. The session is usually not a conversation but in a court where both parties tend to prove and disapprove till finally someone wins the case.

If the plaintiff wins the case there will be a compensation either in lump-sum or chosen by the third party but where the case is been won by the third party then there will not be any compensation for any injury or damages. In case where the third party continues to object to the complaint after court judgment then the complaint could apply for damages or for harassment without significant reason mentioned by the third party.

The process is usually of considerable elements where on one side you want to make a claim and the other side you should be ready to negotiate settlement which brings us to:

PERSONAL INJURY CLAIMS SETTLEMENT PROCESS

After an accident might have occurred, you as the injured person is left with two options which are either to file a claim immediately against or to make a negotiation or settlement. Negotiating a settlement is a part of personal injury claims that begins when you as the injured person reports your case to the insurance company thereby making a claim, if after filing a claim, you decide to accept what the insurance company have to offer then every claim process ends immediately because there has been a settlement but if you decided to reject the offer and seek the help of a personal injury lawyer to file a personal injury lawsuit.

As this claim process have been explained in this article, we may want to give further explanations in order to understand the claim process as this involves a case of lawyer and a courtroom and perhaps not something for a joke. So the claim process and be further broken down into:

1 Notify the insurance company within 24 hours after the accident as it is required by most insurance company either by collecting the phone number from the at-fault’s party, or by filing n online form and by doing this, you have begin a settlement negotiations process

2 Receiving a reservation of rights letter from the at-faults insurance company means the insurance company have decided to look into claim and give you a feedback but this does not mean they have accepted to compensate you for the loss.

3 A demand letter is necessary to send to the insurance company because it lays out the indept of what really happened in the accident and everything that would have flow out-of-pocket expenses like medical bills, replacement of damaged vehicle and others and this is known as special damages, then if you also decide to add the pains you suffered in the cause of the accident then this is known as general damages, combining the general and special damages is your full settlement demand.

4 What you should expect next is the response from the claims adjuster on your demand letter. This response is usually to negotiate on how the settlement claim would end up. The claim adjuster will normally want to perform his/her duties by trying to force you in accepting an offer lower than what you are claiming or what your injuries are equal to by telling you the accident you involved in are not worth your special demand, he/she may try to pressure or force you in accepting his/her offer, relax, relax again, you are the one injured, you should be able to stand on your right and never accept what you feel is not equal to the injuries you suffered, you should reject the claims offered and make a counter offer.

What the claim adjuster really wants to know is if:

A  You are impatient enough to quickly accept his/her offer and also may want to know

B if you understand how personal injury claims negotiation for settlement process works and

C how long you are willing to stand up to secure your compensation for injuries.

5 You are free to make a counter offer if you are not comfortable with the claim adjuster’ offer and this is done by writing a letter to the claim adjuster clearly stating that you do not accept his/her offer and why you did not accept the offer but this time you should reduce the settlement claim a bit to make it look like you were a little bit considerate and willing to bring the negotiations to a close.

6 Patience is the key to receiving a fairly considerable settlement offer in the sense that the more you try to be inquisitive about the offer, the claim adjuster tries to take advantage of you thinking  more delayed feedback/reply can make you accept his/her offer which will eventually harm your chance of having a balanced settlement. So you should be patient enough to wait until the claim adjuster makes another offer or settles for yours. You must also continue to be on your ground by pointing at every opportunity to witnesses of your injuries and losses.

7 Accepting or rejecting the claim adjuster final offer: If the claim adjuster decides not to change or reach a final settlement you could either accept or reject the offer, if you decide to accept the offer, then it should be on a fair ground where the offer is equal to your special demand or a close range but if you are not satisfied with the claim adjusters final settlement offer, you may want to file a lawsuit because this requires a special skill and training of which you have no idea of then taking up a lawyer for this will be a better option.

In quick summary of claim process we are saying:

1 Be prepared by knowing the steps in the claim process, negotiating a settlement offer and gathering enough evidence and witnesses.

2 Be patient enough in order to arrive at a descent claim offer but you also must not be weak in pursuing a settlement process, you should be persistent and follow up request for the case not to take forever.

There are things that you should know in personal injury claims that can be beneficial to you and also harm you, we shall be discussing some of these things and they are:

1 Can I cancel my car accident claims? Along the line you might wish to cancel your claim, it might be a good idea if you decide to cancel your claim but fully consider and understand the implications of withdrawing an insurance claim before doing so. Sometimes you might want to withdraw your claim because the at-fault driver promises or issues a check to cover up the cost of medical bills and damages but this one-time payment may not be able to cover up your future cost, and every other cost will be out-of-pocket expenses. So it is best that if you are not willing to go through a claim process it is better not to start it up. So if you decide to cancel the claim, all you need to do is to contact the Insurance Company by filing out a form or by writing a report but make sure you go through the right channels.

2 If you decide to make a claim, how long do negotiations take? Well in my best of knowledge, it can take up to one or two weeks for the insurance company t act on your special or general demand letter or even both then from this time it can take up to weeks or even months before a settlement that favors you can be reached depending on the flow and speedy process between you the injured person, the at-fault party, and the insurance company.

3 What is the time limit to a personal injury claim? This varies from country to country but on a normal basis every personal injury claim should commenced within 3 years of event.

TYPES OF PERSONAL INJURY CLAIMS

Most types of personal injury claims usually covers for brain and spinal cord injuries as the most critical of them all.

1 Car/Vehicle Accidents: This has to do with injuries occurring from broken bones, bleeding or even damaged organs. If you suffer an injury through car accident then the insurance company will cover you for the injuries, at least a portion of it. But one disadvantage about this is that your claim may exceed its limits of the policy and you may need to sue a third party in order to arrive at your settlement offer.

2 Assaults: If you have been assaulted by harmful objects or by a gun, you may want to sue the party for assault and yes, you have the right to do. A skilled personal injury lawyer may be taken up to help you with the claim process and sometimes going as far as suing the gun manufacturer or a gun store for not providing an adequate security information when there was none provided.

3 Medical Malpractice and dis-functionality: yes, a medical doctor could make mistake in carrying out its medical duties which can lead to serious or severe harm to you, you may decide to sue the medical doctor o the medical organization for this damages. Medical malpractice and dis-functionality comes in different forms and they may include:

A Prescribing the wrong dose of drug to its patient.

B Performing the wrong treatment.

C Recommending treatment that goes against the medical standard.

D Failing or delay in diagnosing a patient’s condition.

4 Refusal to treat a condition or possibly reluctant to do so which eventually led to harm or injuries.

5 Sale of dangerous Products: A pharmaceutical store that sells dangerous product knowingly or unknowingly can be sued for damages because this can actually kill you.

 The most common claims are:

A) Products  that do not perform as promised or as prescribed; for example a malaria drug which is supposed to heal you of malaria but end up causing damage in the body system.


B)  Poison proposed to be a healing drug which you never asked for.

So if you encounter any injuries you should be able to find out if such injuries were as a result of the wrong drugs you took so that your lawyer can be knowledgeable on how to make a claim

If you have any suggestions, comments or questions please use the comment box

LIFE INSURANCE | ALL ABOUT LIFE INSURANCE YOU DON'T KNOW (UPDATED 2019)

LIFE INSURANCE: DEFINITION, TYPES, AND ITS IMPORTANCE

INTRODUCTION: Life insurance has to do with a person’s life been at risk of unforeseen or unexpected happening upon taking a life insurance you are equally entering a contract between the insurer while you become the policy holder. The insurer promises payment of a death benefit to named beneficiaries (take note: there must be a named beneficiary) upon the death of the insured. In a case of death, the insurance company looks into the premium of the insured and pays the death benefit according to the premium.

Life insurance is a way of assisting a family when the policy holder dies (usually the head of the home or the person who brings in the bucks).

It is intended to help you loves ones when they can’t rely on your salary or home any more. The money or payout realized can be used to clear debts, payoff the mortgage or just to cover your daily expenses. Life insurance policy can/may also cover the burial or funeral expenses if you haven’t set aside anything for it.


Life insurance policy are for mostly family members or a person who has a partner but if you are single with no one relying on you or your income then life insurance policy may not be necessary but in the case of having or knowing some who you might want to insure your income on due to his/her financial disabilities, then you might want to choose a life insurance as the best option.

life insurance policies are legal contracts and the terms of the contract describe the limitations of the insurance events. Common examples of exclusion in the life insurance policy may be including:

·        claims relating to suicide

·        fraud

·        war

·        riot

·        and civil commotion

    Life based contracts have two major categories:

· Protection policies : this is policy provides a benefit typically a one – time or huge payment in the event of a specified occurrence

· Investment policy: this policy objective is to facilitate the concurrent growth of capital by regular or single premiums common forms as in the united states are whole life, universal and valuable life policies

Life insurance policy is designed for applicant to look into their financial situation and determine the standard of living needed for heir surviving dependent before purchasing a life insurance policy this is where insurance agents or financial adviser come in to address issues relating to this in order to meet the actual needs. After the life – based categories, which have been briefly explained above; there are three major components of a life insurance policy which will be explained right here for better understanding and they are:

·        Cash value of permanent or universal life insurance

·        Premium

·        Death benefit

1. Cash value of permanent or universal life insurance comprises of a savings account and cash accumulated on a tax. Deferred basis.

The savings account is used by the policy holder during the life of the insured while cash accumulated on a tax deferred basis is future tax payment by the policy holder to make appropriate into the insured (payments to the insured)

2. Premium: in this case, the insurer will determined the cost of insurance or the amount needed to cover mortality costs, policy maintenance fees and others like administrative fees. There are certain factors that can influence or change the premium which are:

·        the insured age

·        medical history

·        occupational hazards

·        personal risk property

The insurer will remain obligated to pay the death benefit if the premiums are submitted as required

3. Death Benefit: this is the actual amount of money the insurance company assures the beneficiaries (payment to the beneficiaries) identified in the policy upon the death of the insured. The insured will choose their desired death benefit amount based on estimated future needs of serving heirs. The insurance company will determine whether there is an insurable interest and if the insured qualities for the coverage based on the company underwriting requirements.

Note: the most common type of life insurance is the term insurance (term policies) which pays only if you die within the duration stated for examples if you take out a policy for the next 30 years, then your family can claim if you die within this 30 years period.

Another type of insurance that is most common is the Whole life insurance; your family can claim the payout no matter when you die. it doesn’t  have an age period. it is unrestricted by a policy, term but this policy is normally more expensive or the most expensive that the term insurance as the insurer knows that definitely there must be a payout

I will be dropping here and right now some hint that will answer few of your questions in a question and simple answer form but if you need details on these questions then you can contact us. Here are they:

Question

Do you have the same payout no matter the time of death?

Answer

it depends on the life insurance policy you want for, if you actually bought a level term insurance then the payout will be same even if you die on the first year or on the last (30th ) year.

Question

Do we have a policy that payouts anytime I die?

Answer

The answer to this is “yes” we call this the whole life insurance. Your family or partner can claim for your policy no matter when you die. That is the term policy (your death must be within anytime your death occurred) but one thing about the whole – life insurance is that it is pretty expensive than the term insurance.

Question

Can I take out a life insurance if am not feeling well or sick of disease?

Answer

Most insurance company do not really accept this offer because you might actually die of that sickness or disease and they run at loss. if you die of that particular illness than there will be no payout. But in your condition but I bet you it’s gonna be a very huge amount on premiums because of the high risk of claim

Question

Do other people take life insurance?

Answer

Yes, but life insurance premium rises with age and older people pay more for lover. And most especially if there are no medical or heath questions

WHY YOU SHOULD TAKE UP A TRAVEL INSURANCE POLICY

TRAVEL INSURANCE | DEFINITIONS, TYPES, AND BENEFITS

This is the kind of insurance that is entered into in order to clear out medical expense, in case of trip cancellation, your luggage lost, flight crash and any other losses incurred while traveling. Travel insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip or a multi trip policy which covers an unlimited number of trips within a set time frame. Some travel policies offer lower and higher medical options the higher ones are mostly for countries that have high medical cost such as the United States.

Travel insurance are packages of insurance coverage and travel assistance service which provide comprehensive travel protection for you and your family before and during the trip. Expected and unexpected incidents can occur or often do occur before or during your trip that would cause you financial loss you need to buy travel insurance to protect you against the unexpected.

If you get sick or injured while traveling abroad, most domestic health insurance plans provide little or no coverage outside the coverage area (Medicare does not cover outside the United States)

Travel insurance also offers coverage for loss of checked luggage, travel delay and luggage delay. Travel insurance covers many unforeseen events like you, your family, your traveling companion who has medical emergency or dies or your travel supplier goes out of business or bankrupt, bad weather, travel delay a plane crash or there is terrorist incident in a city you are visiting. Some benefits are then medical are provided only one per trip. For example if your luggage is delayed twice, you reimbursed only once.


Benefits Of Travel Insurance:

Most travelers uses a lot of time and effort thinking seriously a good vacations but they often overlook the advantage of having good travel insurance to illnesses and accident when they are traveling in a strange land. And there's no certain way to save you  from unfortunate incidents likely to taking place.

Travel insurance offers financial recovery for medical expenses that are incurred because of accident and illnesses.

Travel insurance also covers medical evacuation which means travelers do not have to pay medical emergency transportation expenses with their own money.

In he case of trip cancellation and interruption, travel insurance provides protection against such. When an emergency arises before or during a vacation, travelers may have to cancel or cut short their trips since they have already paid for their vacation. And this will result to a large sum of money.

Note: if you can meet with an accident or lose your travel documents you can seek assistance from your insurance company. The company will offer the best advice or contact local emergency service to help your problems in the shortest time possible and this is most effective when you travel to a country where English is not been spoken as a common language.

The most risk that are covered by travel insurance plans are:

1.  Medical treatment

2.  Cancellation, curtailment and trip interruption which further include:

a.  Jury service

b.  Death bodily injury, illness, diseases or pregnancy complications

c.  Compulsory quarantine

d.  Prohibition of travel by the government to the intended destination

e.  Death or serious illness of a family member (subject to age restrictions)

f.  Trip cancellation

g.  Visitor delay insurance

h.  Oversees funeral expenses

i.   Travel delays due to weather

j.   Flight connection was missed due to airline rescheduling or delays.

Others may include:

a.  Rental car coverage

b.  3rd party supplier insolvency

c.  Acute onset of pre-existing conditions

1. You may be required to meet certain requirements for those travelling to the USA which is to have a qualified plan during their period of study.

2.  Health insurance is mandatory for visitors to enter the UAE (Dubai, Abu Dhabi etc.) and require a visit or tourist visa

3. Companies running group tours often require insurance, as do many cruise companies

ALL YOU NEED TO KNOW ABOUT HEALTH INSURANCE FOR YOU AND YOUR FAMILY

HEALTH INSURANCE DEFINITION, TYPES, AND BENEFITS

HEALTH INSURANCE DEFINITION

Health Insurance is that type of insurance that covers the whole or part of the risk of a person including medical expenses spreading the risk over a large number of persons. Health insurance is a contractual agreement between an insurance company and an individual. The contract can be renewable or lifelong in the case of private insurance, or be mandatory to all citizens in the case of national plans.

In understanding terms, health insurance is that part of insurance coverage that covers the cost of an insured individual’s medical and surgical expenses. Depending on the type of health insurance coverage, either the insured pays cost out of pocket and relives reimbursement or the insurer makes payment directly to the provider, in countries without universal health care coverage like the united states, health insurance is commonly included in the employed benefit packages,

Health insurance is a plan that people buying return for coverage on all kinds of medical care

Most plans cover:

1)  Doctor’s appointments

2)  Emergency room visit

3)  Hospital stays and medications

The idea behind medical insurance is that:

Medical care can be costly, the majority can’t pay for all of it out of their very own pockets but if a set of people gets together and everyone can pay a set amount each month (whether they want medical care at that time or not). The danger is spread out over the entire group. Each person is protected from high health care cost because the burden is shared by many.

Having known what health insurance is about let see importance of health insurance:

IMPORTANCE OF HEALTH INSURANCE

Buying a health insurance policy insurance policy for yourself and your family is important because medical care is expensive especially in the private sector. If the person who brings in the money is not hospitalized, this can be allowed by just paying a small annual premium which would lesser your stress on case of medical emergencies.

A good health insurance policy would usually cover expenses made towards doctor consultation fees, cost towards medical test, ambulance charges, hospitalization costs and even post hospitalization recovery cost to a certain event.

Benefits of Having A Health Insurance Policy.

1)    Cashless Treatment
2)    Pre and post hospitalization
3)    Transportation charge
4)    No claim bonus
5)    Medical checkup
6)    Room rent
7)    Tax benefit

1)  Cashless Treatment: In the area of health insurance cashless treatment as benefit of health insurance policy, you get cashless treatments as your insurance company would work in collaboration with various hospital networks

2)  Transport charges: Insurance Company also pays/covers the amount incurred by the ambulance towards the transportation of insured.

3)  No claim bonus: This is the bonus element which is paid to the insured if the insured does not file a claim for any treatment in the previous year.

4) Pre and post hospitalization cost coverage: Insurance policy covers pre and post hospitalization charges to the period of 60 days depending on the insurance plan purchased.

5) Medical check-up: Insurance policy also provides options for health check-up. Free health checkup is also provided by some insurer based on your NCBs.

Document Required When Buying A Health Insurance Policy.

1)    Age proof

2)    Identity proof

3)    Address proof

4)    Some plans require a medical check-up

5)    Passport photo size photo

WHAT DO I NEED TO KNOW ABOUT PROPERTY INSURANCE

PROPERTY INSURANCE: DEFINITIONS, TYPES, AND BENEFITS

DEFINITIONS OF PROPERTY INSURANCE

It has been observed that so many people don’t understand the concept property insurance and as well casualty insurance and since they have no clue about such insurance policy/scheme they never apply for it thereby lacking behind on the best way to protect your family business, or property in the event that something might happen but we totally have our mind fixed that nothing can happen, though we ought not to think negative but “penny wise pounds foolish”       
Property insurance is a kind of insurance that protects a property insured from unforeseen actions or eventualities such as fire, theft or weather damage or even fight result. This property insurance can include automobile, aviation, marine and many more insurance that has to do with property.

This kind of insurance was first practiced in Great Britain. It has become so widely accepted that even the United States and African States practice this policy and it started with marine insurance. Property insurance involves physical things we can see which are also the natural thing or man made things and they involve our homes, buildings (commercial), motor vehicles, and personal possessions.


On the other hand, casualty insurance covers you for losses that happened to another individual definitely caused by you that is to say any damage you caused another individual and such unforeseen is covered by insurance then it is known as casualty insurance.

PROPERTY INSURANCE

There are various types of property insurance in detail will be discussed in this blog Getbeg Tutor Insurance  which are:

1)    Homeowners insurance

2)    Fire Insurance

3)    Flood or earthquake insurance

4)    Automobile insurance


This is how the casualty insurance works: If you caused damage on an individual or business organization it is called “third party coverage”. It states the damage caused by you in an individual then taken care of by the casualty insurance, if a person sues you for damage imposed on him/her knowing or unknowing your casualty insurance covers you.

Take note that both individuals and business entities can partake in the property insurance, you must stern the types of property/casualty insurance and choose the one that suits you best. It is also noted that:

Open perils cover all the cost of loss not specifically excluded in the policy and the common exclusion in an open peril phonemes include:


·        Earthquake

·        Floods

·        Nuclear incidents

·       Terrorism and war

Narrow perils require the actual cause of loss to be lifted in the poling for insurance to be provided. The common named peril include damage events such as

·        Fire

·        Lighting

·        Explosion and

·        Theft

Having known and understood what Property Insurance is, lets now discuss the different types of Property Insurance


NEXT PAGE >>>> (1). HOMEOWNERS INSURANCE: HERE

ALL ABOUT CAR INSURANCE AND WHY IT IS VERY NECESSARY TO HAVE A CAR INSURANCE

CAR INSURANCE AND WHY  IT IS COMMON 

CAR INSURANCE | DEFINITION, TYPES AND BENEFITS OF CAR INSURANCE

Car insurance as the name implies is an insurance that has to do with cars, autos, vehicles or motor which are all the same. This insurance is used to provide safety against damage or body scratch or damage resulting from traffic collision.

In addition, most car insurance includes theft as part of its car/auto insurance cover so that car/auto insurance may/must include damage (natural conditions, or man made) and theft. 

Upon taking this kind of insurance policy it gives you an edge over troubling yourself for replacement thereby putting the whole burden and financial aspect on insurance company, the insurance company will pay for all some of the damage of the vehicle. But take note that it depends on the type of cover of the company should take all the burden or relieve you of just part of it.

DIFFERENCES IN COUNTRY

Car/auto/vehicle insurance policy differs from country to country as not every country practice the same legal system, so there causing a little change in the insurance policy.

United Kingdom (UK): In the UK you must have motor insurance to drive your vehicle in the UK Roads. Third party insurance is the legal minimum requirement. This means you are covered, if you have accident causing damage or injury to any other person, vehicle, animal or property. It doesn’t cover any other cost like repair to your own vehicle. If you are in an accident causing damage or injury you must give the below mentioned to insurance company:

1. Your name

2. The vehicle registration number and if the vehicle isn’t yours, you must give the name of the person and address.

3. You must report the incident within 24 hours

4. You must report the accident to your insurance company even if you are not planning to make a claim

CAR INSURANCE

Germany: it has been compulsory to have third party personal insurance before keeping a motor/vehicle in all federal state. Every car owner has the freedom to take out a comprehensive insurance policy. All kinds of vehicle coverage are offered by means of numerous personal insurers. The amount of insurance contribution is determined by several region, the type of car or the personal way of driving. There's no requirement for a car owner to have any third party liability insurance however other types are available and from time to time beneficial. There is full comprehensive, covering all damages or injuries done to your own car, another car or person or object. There is also partial coverage for theft, fire, and other sorts of damage.

Canada:     In Canada, all province have some kind of no-fault insurance available to accident victims. The difference from one province to another is the extent to which sort or no fault is emphasized. Basic auto insurance is mandatory throughout Canada with each province government determining which benefits are included as minimum required auto insurance coverage and which benefits are options available for those seeking additional coverage, accident everywhere except for new found land and Labrador.

United States:      In the states, vehicle insurance is designed to cover risk of financial liability or the loss of a motor vehicle the owner may face if their vehicle is involved in a collusion resulting in property or physical damages. Majority of the states require a car/vehicle owner to hold a few minimum level of liability insurance. In the United States as at the time of writing this article some states do not require the vehicle owner to carry car insurance and they include:


1.     Virginia:    where an uninsured motor vehicle fee may be paid to the state

2.     New Hampshire and Mississippi offers vehicle owners the option to post cash bonds

A monthly fee often called an Insurance premium is paid by a motor vehicle owner to the insurer. The privileges and immunities clause of articles of the US, constitution protects the rights of citizens I each respective state when traveling to another.

Nigeria:      In Nigeria, a lot of people have wrong perceptions about auto insurance policy and do not buy into the idea of insurance because they think it’s unnecessary.

However car insurance like any other insurance cover, is used to protect the individual and cover any financial loss which may occur from operating regular motor vehicles such as cars, buses, motor vehicles etc. and move also an auto insurance certificate is a compulsory document for all vehicle owners to have in Nigeria.

With the following few steps which will be outlined below, it will serve as a guide to proper insurance cover:

1.     Research and contact insurance component in Nigeria or email them
2.     Choose a type of car insurance:

        You must be required to fill some forms which include the following:

·        KVC

·        Motor proposal form

·        Motor insurance physical inspection

·        Third party Auto Insurance

3.  Two types of car policies will be offered


4.  An annual premium will be charged on the policy depending on the type of vehicle


5.  To buy a comprehensive insurance for your vehicle most insurance companies in Nigeria will change between 4-5% of the total value for one year period.


Types of Car Insurance Include:

1) Liability Insurance:

Next >>> Read Liability Insurance in details Here: Liability Insurance

2019 TOYOTA CAMRY INSURANCE COST AND REVIEW

2019 TOYOTA CAMRY INSURANCE  COST AND REVIEW AND SPECULATIONS

Photo credit: Toyota 

INTRODUCTION: It’s never been new and it’s also been existing for quite a long time the popularity of cars in which different shapes and functions come out on monthly/yearly basis and the public actually love this; cruising in their latest cars and deriving pleasure and comfort in them. Cars are part of mans need and very important as it can be used for commercial or private use. 

In our everyday life, we are prone to risk from use of these cars most especially road accidents, bodily injury, damages and cost of maintenance but I can tell  you a car with no proper maintenance will not last long and  how  you as the owner wont enjoy much of the benefits. In this article, we shall be discussing how you can actually maintain the usage of these exotic cars like the Toyota Camry 2019 to your advantage as well as Insurance cost and the major part we shall be discussing is insuring this cars.

Cars are very important as the most common (mobile) property man usually acquire, you can imagine a person with 5-10 personal cars or even more, yea, that’s how common and popular cars can be.

There are different brands of cars in the world but our primary focus is the Toyota cars and to be more specific the Toyota Camry 2019 which is the latest Toyota Camry products.

TOYOTA CAMRY/TOYOTA CAMRY 2019

The past edition of the Toyota Camry which is the Toyota Camry 2018 made massive sale and the design was excellent and now comes the 2019 edition which is the redesign of the 2018 model. Reviewing little about the Toyota Camry 2019 edition it features:

 The new Toyota Camry 2019 LE, XSE, and XLE is the latest sedan that everyone would love to have among hi/her collection of cars because it:

Photo credit: Toyota Cars

1 Has the safety feature (crash avoidance tech)

2 Comfort Values for your money

3 Reliability

4 Wonderful interior styling

5 It ranges from $23,845 - $ 34,600 MSRP rang

6 94% of drivers recommend this car and gave it 4.5 star ratings

7 Can last at least up to 7 years and 85000 miles

8 The Camry’s seat is upfront due to stopping roofline

9 Fuel economy

More features here Toyota Camry 2019 Review

Alright we have written pretty much about the latest Toyota Camry and its excellent features but the major headline of our article is how to insure your Toyota Camry 2019, the cost of insurance and many more that has to do with insuring this wonderful vehicle but of cause we couldn’t have gotten a better idea if we first do not review the features of this car.

CAR INSURANCE

Car Insurance is one of the most popular types of insurance all over the world because people are afraid of liability coverage, bodily damage or even accident. Car insurance helps a lot and its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and liability that could also arise from incidents. Car insurance also involves insuring your vehicle against theft, weather or natural disasters and in most countries like the United Kingdom it was made compulsory to have a car insurance policy before using such car on public road and in taking up a car insurance policy you are not only insuring your car but the driver as well and we also have the third party liability coverage in car insurance policy.

Read About Strategyto get Cheap Car Insurance Coverage

TOYOTA CAMRY 2019 INSURANCE

The super model car is likely not complete if its not been insured by the owner or buyer, it is very important to insure this type of car due to the benefits of insuring a car which has been explained above and also cost of purchase. We shall list and explain the steps to having a better car insurance policy for your Toyota Camry 2019 and they are:

1 Find the right coverage you need for you and your vehicle: You did great for purchasing this vehicle and you should do greater for having the best and most suitable coverage that equally best suits your budget.

2 Get down with the discounts: Having multiple insurance policies as a student, and a good driver is a good start to having a better discount. You can also save money for having an insurance coverage for this kind of car because of its safety feature and do not forget that the better the safety feature the reduction in deductibles and premiums. Toyota has given a befitting discount for this type of car brand so while not try it here by Requesting a quote.  

3 Having an estimate: Having settled for the best and suitable insurance budget therefore you sort for the best coverage and settle for it.

You can read how to have the  best and cheap car insurance coverage  or request a quote 

HOW CAN YOU SAVE MONEY ON YOUR TOYOTA CAMRY 2019 WHEN TRYING TO INSURE?

This 2019 Toyota Camry cost ranges from $23,845 - $ 34,600 and insurance premiums vary but to get a great discount for your Toyota Camry car this factor must be included:

Photo credit: Toyota Camry

1 Are you a safe driver?

2 Are you a student?

3 Did your car come direct from the factory with airbags or motorized seat belts?

4 The Toyota Camry 2019 came with anti-lock brakes so you are likely to get 10% discount

5 While with anti-theft device you can save upto 10% on your premium

So we have definitely seen the reviews, price, and cost of this wonderful edition of the Toyota product and more also the cost of insuring this vehicle from their official site and also the discount offered……Let me know what you actually think about it

INSURANCE AS A TOOL TO PREVENT AND REDUCE RISK OF LOAN LOSS AND REAL ESTATE MANAGEMENT

INSURANCE AS A METHOD OF LOAN SECURITY AND UTILIZATION AND REAL ESTATE ADVANCEMENT 

In this article, we shall be considering several factors that will help us build a better insurance policy relating to loan and Real Estate. But first lets highlights the keywords in this context:

1 Insurance

2 Tool

3 Risks

4 Loans

5 Real Estate

1 Insurance is a risk transfer mechanism that protects you of uncertainty or un foreseen events. Ever since, man has devised several ways to gain relief from losses when they occur, this is a pointer to the fact that man certainly does not like the burden of risk bearing and thus desire to transfer it. Insurance helps humans in diversity of life in the areas of life, marine, property /casualty, traveling, health and many others. Insurance will continually be important and necessary because man cannot bear all the risk alone.

   

Insurance is an arrangement by which an insured transfer its risk to the insurer at an adequate fee called premium on the concrete agreement that the insurer (insurance company) will indemnify or compensate the insured for the occurrence of the insured event in simpler form we can say:

a Insurance involves the transfer of risk

b Insurance is based on promise and agreement

c Insured shall be indemnified or compensated

d A premium must be involved.

2 Tool: According to Business dictionary.  An item or implement used for a specific purpose. A tool can be a physical object such as mechanical tools including saws and hammers or a technical object such as a web authoring tool or software program. Furthermore, a concept can also be considered a tool. "Creativity is the tool which allows a child's mind to grow."

Read more: Best Personal Loan Rates 2019

More also, a tool is something that serve a purpose either for repairs or as a medium for ensuring something is been done. When we relate this context in insurance, we can clearly say Insurance is a tool to get things done or probably insurance serves as a repair to something broken or may likely break and when it eventually does, insurance should serve as a tool if you as an insured insures you car against accident through an insurance company by buying a premium, when this event (car accident) actually occurs, insurance serve as a toll to redeem, indemnify, or compensate you on such loss.

Tool here means insurance used as a medium for insurers to connect with the insured and agreements that must take in place for this to be valid.

3 Risk: Risk is uncertain, expected and unexpected in which its end–up dangers are loss. Risk takes place in every human activity and has made it a source to worry for the inquisitive minds. Life itself is risk and high uncertainty of any event. Risk exist whenever the future is unknown, stressing the fact that everyone is a risk manager not necessarily willingly but by necessity.

In simpler form, we can say Risk is:

A The objective doubt concerning the outcome in a given situation

B Risk is the possibility of an unfortunate occurrence.

C Risk is unpredictable, the tendency that actual result may differ from the predicted result.

4. Loan: What we mean by loan is a sum of money a person borrows from a lender in actual agreement to pay with an interest in which a stipulated time is given of which when the borrower exceeds such time limit may warrant an increase in the loan interest or a fine which also might lead to a breach in the terms of agreement.

There are different purpose of collecting a loan of which at the end side of it should be one which can produce an additional income for the borrower or serve as a relieve in certain areas the borrower is in need of. A loan has a high risk of loss where the intention of collecting a loan is not achieved leads to debts or been prone to unexpected hazards and events such as robbery, Loan insurance is an aspect that is very crucial because man does not want to face the risk of losing any property therefore sort for ways by which the occurrence of loss can be transferred to a party which will help cover the whole loss or at least a part of it.

5 Real Estate Management:  Lawyers, law firms and real estate agents come to place when Real Estate Management is involved. A real estate agent serve as a middle man between the owner of a property   and the proposed buyer of the property. 

It is most times on lease where the estate owner offers his/her property for a given period and a sum to be paid by the lease. And other times, it is based on a monthly,  quarterly payments where the intention of the lease is to buy the property on an agreement usually a legal agreement between the buyer, lessor, and the agent usually lawyers. This is where the lawyers come in and they involve In activities like:

. Issuing documents as it relates to transfer of ownership without which every contract is legally invalid

. Standing for the party that was denied rights and amending every breach of contract

. And many other functions

Let’s now come to the topic of this article which is insurance as a tool for loan utilization and real estate management or Insurance as a tool to prevent and reduce risk of loan loss and utilization and real estate management. Now let’s break it down

1 insurance as a tool for loan utilization

2 insurance as a tool that helps in real estate management

1 insurance as a tool for loan utilization: having discuss briefly about loan, insurance helps an individual or a business organization to utilize loan for which the purpose of the loan must be observed and risk prevented. 

This is designed to help policyholders by ensuring support financially majorly in time of need whether this was due to disability or probably unemployment, taking up a loan insurance helps cover up your monthly loan payments and gives you protection from risk that any occur. In Britain, the loan policy comprises of different terms which are unemployment insurance, redundancy insurance premium or sickness insurance while in the US it is mostly called PPI which stands for Payment Protection Insurance.

HOW DOES THIS LOAN UTILIZATION WORK

Loan Insurance helps the policyholders meet their monthly debts upto the predetermined amount. It’s usually on short term basis ranging from 12-24 months and also depends on the insurance company and policy. The benefits attached to this policy can be utilized properly to clear off personal loans, credit cards, or car loans and this policy are for people usually from 18-65 who are on-job at the time the policy was taken up. For this policy to be effective, the purchaser has to be employed working at least 16 hours a week on long term basis or be a self employed for a specific period of time.

In essence we are saying Insurance helps in loan utilization by:

 a In tough times, loan insurance will take care of the outstanding loan amount in the case of death or disability resulting from a sickness or accident and also in-case you lose your job and by this it has helped you utilize your loan before and after usage.

b Incase of a credit life insurance, it pays off all or some of your loan if you die.

c Insurance as a tool that helps in Real Estate Management

WHAT  IS REAL ESTATE : Real estate is anything that consist of land and building, natural resources (crops, water or minerals) or housing in general. A real estate may contain either a single family or multi family structure that is available for occupation or for non-business purposes.

Real Estate Management: This is the control, oversight and operation of Real Estate. Real estate management indicates the need to be cared for, monitored and accountability given to its useful life and condition. In other words, Real estate management involves taking care of, maintaining, renovating and ensuring the property is been to put to order.

2 Where does insurance come in as a tool that helps in Real estate management?

Try the Best Personal Loan Rates Here: Beat Personal Loan Rates in 2019

Insurance provides coverage for those who own properties who have lease or rent building space for offices, services business or retail stores. His real estate policy usually includes replacement insurance terms for reconstruction costs of repairing or rebuilding real estate that is damaged. In other words, real estate insurance is insurance of property, law and buildings. Source: Collins English dictionary

Insurance provides protection against most risk thereby when such events as fire, theft, and some weather damage occurs, insurance will help recover or replace any damages. If you own a real estate then having an insurance coverage for it will help you manage your property

(Read: Property insurance)

Most real estate insurance taker usually choose a specific amount ranging from a million – two million dollar on an average of $882.12 and this include general liability and property insurance. We shall be discussing this topic vividly as it is very broad and needs updating. Having discuss insurance involving in loan utilization and real estate management, we can now realize having insurance policies to help in real estate management and utilizing our loan is very important.

Feel free to drop your comments, and suggestions