Best Insurance Knowledge

Protecting Your Assets With Construction Liability Insurance

Construction Liability insurance protects companies from any lawsuits for personal injury or property damages. It will usually cover the damages from lawsuit along with legal costs depending on the coverage the insurance offers.

Workers compensation is another type of liability insurance that construction companies should carry, and they are often required by law to provide it to their employees.

This liability insurance assists employees in the event that he/she was injured while working in the site. Below are examples of the compensation they cover.

Construction Liability insurance packages include payment for your:

• Medical bills and related expenses

• Loss of earning capacity

• Loss of companionship or support

• Loss of enjoyment of life

Construction liability insurance covers all kinds of accidents related to construction accidents depending on the extent of the injuries.

The following are the types of construction accidents they cater:

• Fire and explosion

• Technical error

• Electrocution

• Negligence

• Lack of safety gear and equipment

• Unsafe ladder breakage

• Faulty machines

• Workers hit by falling debris

• Unnoticed flooring holes

• Industrial gases

• Welding accidents

• Crane, forklift and vehicular accidents

• Trench collapse

• Roof related falls

• Scaffolding accidents

Generally, when accidents happen, the owner of the building faces the liabilities. The negligence of its worker are often blamed back to the owner who in some aspects, never really know the danger that lies somewhere in the construction site.

With construction liability insurance, you do not put yourself at risk of paying all the damages associated with construction accidents. You have protected your assets and saved yourself from headaches.

A construction company’s asset also includes the workforce you employed. Without them, your plans would not be implemented successfully. They, too, can be assured about their future safety even if affected by accidents that may cause them disability.

However to be fully protected ask help from a construction accident lawyers to better equip you with knowledge on how to face lawsuits when it happens.

Our Los Angeles personal injury attorneys are experts in dealing with issues on Construction Liability. For immediate legal advice and assistance on your case, log on to our website and fill out our free case evaluation form.

We are a nationwide & independent insurance brokerage house who offer specialist construction insurance solutions to the Irish Construction Industry.
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Cheap Insurance – New Driver Guidance

Cheap insurance for new drivers can be found by searching the Internet. You will most often be quoted a higher rate if you phone an insurance salesman or if you phone the home office of a large insurance company. This is because it costs the insurance company more to hire and train people than it does to simply use computers.

Consequently, the cheapest method for an insurance company to quote rates is to employ an online, automated system. Many times, an automated system will provide a lower rate quote to a new driver because it is less expensive for the insurance company to pay for computers than for people.

And, consider this . . . if you accept the recommendations of your agent, you could easily be overpaying by 50% or more. Let’s be honest with ourselves – they don’t always have YOUR best interests at heart.

When it comes to finding cheap insurance for new drivers, knowledge is power. You will be most successful at finding cheap insurance for young drivers by making an effort to understand both the process and your options.

Many automobile insurance companies exist to offer low cost insurance. New drivers and people on tight budgets are targeted by these companies. Insurance rates can vary by hundreds of dollars, not only between companies, but also within the same company. Discovering low cost insurance for a new driver can be accomplished if you ask enough of the right questions. For example:

**..1..**

Is your new driver an excellent student? If so, you will want to ask about low cost insurance for good students.

**..2..**

You might be able to get low cost insurance for your new driver that has completed a safe driver program or a defensive driving course … sometimes up to 15%. If you have a new driver who has successfully completed one of these, you will want to inquire about a discount. Insurance companies know that a new driver who takes these courses reduce their chances of having an accident by 50%.

**..3..**

Some companies offer low cost insurance to a new driver who has successfully completed a drivers education class. These discounts (sometimes up to 10%) can apply to bodily injury, property damage, medical payments, personal injury, and comprehensive/collision coverage. Again, you simply need to ask about the discount.

**..4..**

Other issues to consider when looking for low cost insurance for new drivers include driving “Safe Cars” (these will be listed on the company’s Safe Car List). Also, driving cars equipped with daytime running lights, stability control, four wheel drive / all wheel drive / on-demand all wheel drive, traction control, anti-lock brakes, tracking unit / theft recovery unit, active or passive anti-theft devices, and air bags.

NOTE: If you are not sure which safety features are on the vehicle for your new driver, keep reading (or visit cheapinsurance.how2no.com) and you will discover where to find a complete list of the safety features for your vehicle(s).

Quotes for auto insurance can vary by hundreds of dollars between companies, so it will be to your advantage to shop around. Online searches are generally the best method of locating low cost insurance. New driver issues (like those discussed above) can be addressed effectively through most online automated systems.

Cheap Motor Fleet Insurance Policies

For any business whether it’s a small, medium or a large enterprise there comes a time when the business will change and as a result your motor fleet insurance policy will need to be updated. It could be that the vehicle type may need to be changed from cars to commercial vehicles or a mixture of both. Whatever the reason, it can be a tasking time to source and find a supplier of fleet insurance policies that can react to the changes to your business needs. The last thing you want is to spend hours or even days on the telephone to your fleet insurance company trying to get the correct coverage for your fleet. By talking to a broker or an insurer that can quickly understand your requirements will not only save you time but can also save you money.

As with standard private car insurance, the level of covers available on a fleet insurance policy is the same. All three levels of cover can be obtained for your fleet including Comprehensive, Third Party Fire & Theft and lastly the Third Party only cover.

Most fleet insurance companies will also allow you to vary the level of cover for different vehicles. For example, the fleet may have some vehicles that are new purchases and on these vehicles you want to insure them for Comprehensive cover. Certain vehicles in you fleet may be a lot older and the value of these cars in nominal and you can opt for Third party cover for these vehicles. This could save you considerable amount of money on your fleet insurance policy. Obviously many other rating factors exist in qualifying for a cheap fleet insurance quotation.

One of the rating factors on a fleet insurance is the age and experience of the drivers. By limiting your fleet drivers age to a minimum of twenty five years of age could also save you money. If you have one driver that is aged, say 23 years old, you can request that one driver to be added additionally for a premium. Not all insurers will allow younger drivers to be added to the policy, so before taking out a fleet insurance policy confirm with the advisor if the policy will allow adding a younger driver at a later stage.

With most car insurance policies additional optional extras are available. This also applies to the fleet insurance policies. You can opt for a fleet breakdown cover so that all vehicles are covered for breakdown assistance and recovery. Legal expenses policy is another useful add-on to help recover your expenses in the event of a non-fault accident. Courtesy or a replacement vehicle option is another one to consider unless you have spare vehicles in your fleet.

Now fleet insurance is available for many trades including commercial travelling, carriage of own goods, goods for hire and reward (such as couriers), private or public hire (taxi) and haulage. Remember fleet insurers want to see good risk fleet management in place to offer the big discounts. This can include driver training, driver forms, vehicle security etc.

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Motorcycle Touring in Europe – What You Need to Know

DOCUMENTS TO TAKE WITH YOU

It’s important to make sure you have the correct documentation for you and your motorcycle when travelling abroad. You must ensure you carry the following documents when riding.

1. Passport – Non-European Union citizens may also require a Visa. 

2. Driving Licence – Full UK Licence with paper counterpart if a photo licence. (An International Driving Permit is not necessary). 

3. MOT Certificate – If your motorcycle is more than 3 years old. 

4. Registration Document (V5) – Sometimes referred to as a Log Book. 

5. Insurance Certificate for your motorcycle – In line with European Union directives your vehicle insurance will automatically cover you to the minimum requirement of third party only while in other EU countries (a green card is not necessary). If you want to maintain the same level of cover you have in the UK you will need to contact your insurance company or broker before your departure. Your insurance company will normally make a small charge to extend your existing cover to other EU countries. 

Make sure all your documents are up to date and will cover you for the length of time you spend abroad. Also ensure your motorcycle has a current Road Tax, and is otherwise road legal. 

OTHER REQUIREMENTS

Ride on the right-hand side of the road (except in Malta and Cyprus). If you don’t have a rear-view mirror on the left-hand side of your motorcycle, have one fitted to aid in riding on the right. 

The wearing of a suitable crash helmet is compulsory throughout all European Union countries. 

A suitable GB sticker must be displayed at the rear of your motorcycle. Since 2001, if you have a number plate displaying the blue GB euro-symbol, a conventional sticker is no longer necessary. 

For many motorcycles, headlamp deflectors or readjustment is not necessary (the headlamp beam pattern is different to that of cars). If in doubt, ask your local MOT station to check. 

Riding with dipped headlights is compulsory at all times in most European countries. 

GOOD IDEAS

Although not a legal requirement, the following will give you peace of mind and could be essential should the worst happen. 

1. European Health Insurance Card (EHIC) – In order to receive health care treatment in any other EU country you will need a European Health Insurance Card. As from 1st January 2006 this card replaced the E111 and entitles the holder to state-medical treatment for injuries and illnesses. You can apply for a EHIC by picking up a form at your local post office, there’s no charge. The EHIC may not cover all the services you might expect in the UK, so it’s a good idea to take out a suitable Personal Travel Insurance. 

2. Personal Travel Insurance – Make sure the policy covers motorcyclists. Some insurance companies consider motorcycling a dangerous pass time. As always, if in doubt, ask. 

3. European Breakdown Insurance – None of us expect to breakdown, but a suitable insurance could save a lot of hassle and money should you have the misfortune to suffer mechanical problems. 

It’s also a good idea to carry a spare set of bulbs and fuses, a basic tool kit, a puncture repair kit, chain lube (if applicable) and a spare set of keys. 

Dave Roffe

Stock Market Crash: Variable Life Insurance Polices Face Risk

It’s not just your portfolio that will feel the pinch because of the recent stock market crash. Your variable life insurance policy may also be in danger of taking a downward spiral. Variable life insurance policies have been on the rise – currently accounting for up to 40 percent of life insurance premiums.

Michael Kortz, RFC, RR Insurance Agent from Orange County, California notes, “This type of policy has become increasingly popular because of the substantial tax advantages and larger cash value gains. However a variable life insurance policy exposes you to a higher risk because your policy’s value is directly tied to the investments you make.”

How a Variable Life Insurance Policy Works

Variable life insurance builds cash value over time. The cash value of the policy is invested in a variety of different accounts, similar to those found in a 401(k). The mix of investments is completely at the discretion of the policy holder.

What differentiates this policy from a more traditional option is the dramatic fluctuation of a policy’s cash value. Stock market gains can result in a rise in cash value which can lead to a cash rich policy. However, large market losses could result in negative consequences.

Polices in Danger of Collapsing

Many variable life insurance policies have been minimally funded in hopes that stock market gains will help fund their policy. A large amount of policies were sold with the assumption that the stock market would consistently provide big returns. But with the recent stock market plummet these policies face serious risk.

Cash Value Decrease in Policy

Because variable life insurance is directly tied to stock market performance your policy’s cash value may experience a decrease. Depending on which subaccounts have been selected, a policy could experience a 30-50% decline in policy value. “That would be devastating to the policyholder,” comments Financial Advisor Michael Kortz, RFC, RR.

Protecting your Policy from Market Risk

There are strategies you can implement to protect your life insurance policy from lapsing. Understanding your choices in these tough economic times will assist in protecting your investment.

1. Ramp up funding. Funding your existing policy at a much higher level can make up for the “evaporation” of your cash value. This will help keep your policy in force, and possibly avoid a policy lapse.

2. Reduce the death benefit. Reducing your policy’s death benefit may allow you to keep your premiums at their current level. However, this tactic may expose you to surrender penalties, especially if your policy is relatively new.

3. Invest in a fully-guaranteed policy. Switching your life insurance to a fully-guaranteed policy will protect your policy and cash value from lapses regardless of market conditions.

Understanding the correlation between the stock market’s downward spiral and your variable life insurance policy is important. Evaluating your current policy and making the necessary changes will salvage your investment and protect from future risk.”For those who own a variable life insurance policy, it might be time to consider one of the newer fully guaranteed universal life policies,” comments Michael Kortz, RFC, RR. “Regardless of what the stock market does, these policies are guaranteed to provide coverage as long as the level premiums are paid. People need to sleep at night. A policy that is rich in guarantees, and isolated from market ups-and-downs, could help them do that.”

Life Insurance Companies and Bankrupt Shopping Center Developers: Chapter 2 Begins

 

I’ve written several times in the recent past about the involvement of life insurance companies in shopping center financing.  Whereas there has been great attention paid in the press to the difficulties of the automobile companies, of the banks, and of AIG, not much has been said about the exposure of many life insurance companies to the adverse conditions of the credit and commercial real estate markets.  That may be the case because, in the public’s mind, and in that of financial reporters, the connection between life insurance companies and the real estate industry is not immediately obvious.  Yet, the connection is real, it is direct, and it is very large.

In the old downtowns across the country, typically each building was individually owned, most often by the operator of the business therein – and often, the family lived upstairs.  It is generally understood that Don Casto, of Columbus, Ohio, built the first true “shopping center” in 1928 – several stores, in “strip” fashion, in single ownership, featuring their own parking.  In those days, financing was accomplished largely through local banks, which relied principally upon the personal signature of the borrower.

Later, as shopping centers grew in size and began to feature a conventional department store as the key tenant, a few life insurance companies began to see the potential of lending to this source of stable revenue.  The field grew when department stores which historically had been aggressive competitors agreed to enter the same shopping center.  Now, we have the apogee of the genre, the mega-mall, exemplified by the Mall of America near Minneapolis, which features several department stores, hundreds of smaller shops, and an entertainment complex covering many acres of ground.

Many life insurance companies and pension funds have invested aggressively in shopping center mortgages for many decades.  Some of these loans were, and are, self-amortizing over the term of the loan, but some have maturity dates of, say, ten years, leaving a substantial “balloon” amount still due.  The expectation has been that the unpaid amount would be refinanced (“rolled over”) into a new loan at that time.

The plan works just fine when credit is loose.  It doesn’t work so well when credit is tight.

That’s what befell General Growth Properties, which has just now filed in bankruptcy.  We understand that GG’s problem was particularly acute because it had relied heavily on short-term financing, probably more so than most shopping center development companies, when it purchased the Rouse Company and, in so doing, large tracts of undeveloped land.  GG found itself in a bind because short-term loans which it had historically rolled over without much problem became unavailable at all.

This is not to throw a pall over the properties themselves.  To a substantial extent, they are “marquee” shopping centers which are well-maintained and enjoy premier locations and competitiveness in their communities.  The problem is not the properties; we read that they generate sufficient cash to sustain themselves.  The problem is GG’s inability to refinance the principal of loans which are coming due.

So, the insurance companies and other lenders which had been unwilling or unable to roll over GG’s loans now find that “there may be a further delay,” like it or not.  Unquestionably, the centers will continue to operate.  The investment company which owns 25% of GG stock has agreed to supply substantial funds to GG as “debtor in possession” in the bankruptcy proceeding.

A worrisome part is that the “further delay” may adversely impact some of the same life insurance companies which have now made their appearance as supplicants on the bailout line.  This is not quite the same situation as a bank, with which a depositor or borrower has a financial relationship, and that’s all.  A life insurance policy is more in the nature of a fiduciary relationship.  There can hardly be a more trusting relationship than that between a policyholder and his life insurance company, where the outcome is certain and he trusts that, without fail, the policy will pay off upon his death and that his wife and children will be protected thereby.

Life insurance companies are regulated by the individual States, not by the Federal government.  Still, in light of the news that some life insurance companies (major ones included) have told Washington that they may be in need of bailout help, there is probably no way that the Federal government will be absent from the solution.  Many of the States, themselves, are in no position to help; and, after all, there is only one entity that has the power to create money out of thin air.

It is unthinkable that any life insurance company would be allowed to descend so far that it could not pay off on life policies upon the death of the insured party.  Still, the specter has arrived:  the bankruptcy of General Growth is the largest real estate bankruptcy filing, ever, and many life insurance companies and pension funds have really substantial amounts of money on the table.

I have generally good feelings about the eventual emergence of General Growth from the bankruptcy process.  The properties are good.  This is not a case of abandoned skeletons of half-built skyscrapers.  There had been too much short-term borrowing and not enough self-amortizing loans.  GG got caught in a credit squeeze not of its own making.

Quite apart from the question of return of capital, there may be “haircuts” and even some “shaves” administered to lenders in coming days.  It is yet to be seen to what extent those will materially adversely affect certain life insurance companies and pension funds.  It bears watching.

William Kurtz      April 17, 2009       http://www.candlesticksonsteroids.com

 

 

 

In this update on the current concerns about life insurance company and annuity market security, Mark Wahlstrom, host of The Settlement Channel discusses the over blown media coverage that has raised unreasonable fears. While people and advisors need to be reasonably cautious about life insurance company ratings, the fact is that most of the news surrounding life companies and annuities is related to earnings issues and potential ratings downgrades and not an issue related to solvency. Learn the facts about life insurance annuity solvency and protect your annuity or insurance contract. The news isn’t as bad as they say but you need to be aware and careful.

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Home Contents Insurance – Do I Need it in a Recession?

Home Contents Insurance – Does a Recession Causes Burglary increase?

Unfortunately, the increase in domestic burglaries is a known side-effect of an economic downturn as more people find it hard to make ends meet. Figures from the last economic downturn show that during that last recession in the early 90s the number of burglaries increased – significantly.

One way to protect yourself should the worst happen is to obtain comprehensive home contents insurance so that should a burglary happen, you are covered for any loss that may occur as a result of a burglary.

Of course, the best way to avoid having to claim on insurance is to install a burglar alarm, but these do not always provide sufficient deterrent when burglars are desparate. However, they will usually mean that you get a discount on your home contents insurance quote and premiums such that you are still covered for the same amount, but costing you less.

There are other ways of reducing your home contents insurance costs – installing sufficient locks and protection to your windows and doors is a good start. Each insurance company will give you different benefits for different deterrents, but you can see the headline discount that’s available as a starter, on leading websites such as home contents insurance uk.

In these difficult times, it is very important to maintain adequate home contents insurance and with the ability to buy online, often with a big discount, you don’t want to be a victim of the recession in a way that you didn’t anticipate from the news stories.

You will feel assured when covered with a policy – and you won’t worry so much when leaving your house for a period whether short or long. The insurance policy should cover it. But do lock your doors and windows – and do get a burglar alarm if you can!

How to Properly File a Home Insurance Claim

Something has just happened to your home and you are completely oblivious to what you should do now. First things first though, you should just be thankful that you were wise enough to have invested in that home insurance policy that will be likely to fully compensate you for your house. Once you have enough time to actually sit down and sort your life back out, you should start the process to file a home insurance claim so that you can begin the process of rebuilding.

The first step to filing a home insurance claim is to call your home insurance company as soon as you possibly can. Really, the sooner the better, even if you feel that you are not mentally up to dealing with an insurance company right after losing your house. However, getting the process in motion as quickly as you can will mean that you can get your life back together more quickly, and that is certainly a good thing.

Next, walk around your home and take very detailed notes about each and every thing that was damaged or destroyed. If you have a camera, use it. If you were able to photo-document your home before the disaster, even better, as you can use both the previous pictures and your new pictures to prove to the insurance company that damage took place and some of your belongings were lost. After all, when there are pictures involved, you are able to present your insurance company with irrefutable evidence that you did in fact have the items you want compensation for, and you can prove that they were in fact destroyed or damaged beyond repair.

While you are waiting for the insurance claim to go through, go ahead and make any repairs that you can, as doing so will help you pass the time. Just be sure that you thoroughly documented the damaged areas before you fix them up. Also, a good idea when you are working on repairs is to complete them as much as you can, but do not apply a fresh coat of paint over them. This way the insurance company will actually be able to fully examine the areas that were damaged should they need to. As you work, the time will pass more quickly and in no time you will be rewarded with your home insurance claim – a great way to help you get back on your feet after your home or your belongings were damaged or destroyed.

Get Cheaper Commercial Vehicle Insurance, Discard your Worries

Due to our fast-paced lives nowadays, it has become very difficult to survive without a car. It means much more than just fulfilling our business or commuting needs. We simply cannot do without it. What if this prized possession of ours meets with an accident? All the losses will have to be borne by the owner. To prevent such a loss, we can get the car insured through cheap commercial vehicle insurance.

Vehicle insurance is available to the car owners for all types of vehicles which are used for commercial purposes. Insurance is provided depending upon the make, cost and the security measures that have been installed in the car. Cheaper commercial vehicles insurance covers all the aspects of vehicle insurance in spite of the low premiums.

Through cheaper commercial vehicle insurance, the vehicle can be covered against any accidental losses, fire, floods and other natural calamities, collisions etc. Cheaper commercial vehicle insurance, the travelers in the car are also insured along with the driver present at the time of any mishap.

With the help of professional analysts, cheaper commercial vehicle insurance can be availed to provide coverage of the following types for the vehicle:

* Comprehensive coverage

* Third party coverage

* Third party theft and fire cover etc

Cheaper commercial vehicle insurance should be obtained only after comparing all the pros and cons of all deals offered. A cheap policy should not mean that there are loopholes in the policy so it should be scrutinized by the owners carefully.

If the commercial vehicle meets with an accident, has a mechanical breakdown, engine faults etc, the cheaper commercial vehicle insurers should be informed at the earliest so that they can accordingly pay for the losses that have incurred.

Online there are many providers for cheap commercial vehicle insurance to the vehicle owners easily. So a research to find out a good policy for commercial vehicles can be done easily online.

With cheaper commercial car vehicle insurance, you can now drive without any fears and prevent all losses even if your vehicle meets with any accident.

Medical Health Insurance: a Major Factor for Health Insurance

Life is very unpredictable. Today, you might be in good shape, but we do not know what will happen next. However, life can also be practical. The practicality of life is something that most people hold onto. Everyone is so concerned with their personal life, especially their health. One way of being practical is to be prepared for the life ahead concerning your health. The cost of health insurance is on the rise, and the most common kinds of health insurances are medical health insurances.

 

With the current costs of medical care, it is readily understood why medical health insurance is badly needed. These medical health insurances pay much of the total hospital bills, while the person insured pays only a little. Such a transaction is very beneficial. If we have incurred medical health insurance then we need not worry about any emergencies that may come at any time.

 

There are different types of medical health insurance available. Medicare and Medicaid are the most common. Though the two may sound similar they are actually quite different. Medicare is issued to senior citizens and the Medicaid program is offered to people with lower incomes. Both are sponsored by the government. There are also other insurances such as the Point of Service Health Insurance, the Preferred Provider Organization, and the Health Maintenance Organization, which offers similar services but differ in some points.

 

Though everything is practical, still we have to consider if it is practicable. Nowadays, the means of living is very tough. Inflation is getting growing. As the recent survey shows, the total health expenditures last 2007 were expected to rise to 6.9 percent, which is twice the inflation rate. This means that the total cost of health care is rising gradually.

 

To this point, a person may have to consider his financial status before engaging in such transactions.  A person has to be very careful and wise in making a decision about which medical health insurance will fit him best. If he has other bills to be paid off each month, consider which is more valuable, which is more important, and which is more efficient and conducive.

 

People say that the best things in life are free, but nowadays, nothing is given free of charge. Although, these medical health insurances helps you in various ways, still be reminded that they require money. As to what old folks may say, “no money, no honey.” Money really makes the world go round. If you do not have a stable job in which you can get enough to pay your bills every month, it would not be practicable to get any health insurance.

 

Practicality in life may seem easy, but practicability may not. Still it would be better to just take good care of yourself and live a life that is satisfying, free of extra bills.