You were on the phone, got distracted and before you knew it traffic had stopped, giving you no room to stop and you rear end the girl in front of you. Or, let's say you're driving along and a deer jumps out and rams into the side of your door.
Now, let's say you need to file and claim and get your car fixed. But, are your rates going to go up?
In the first case, more than likely they will depending on how much your insurance company pays out to fix both cars and medical bills if anyone was injured.
But, in the second example, since this will be a comprehensive claim your rates should not see an increase at your renewal. Unless you have a long history of hitting deer then the people from PETA will be out to get you. Or if you file a lot of small glass damage claims then your rates could be affected or you may have to pay a higher deductible for comprehensive in which case small glass damage will be less than your deductible and you will pay out of pocket.
Part 2: How long does an accident stay on my record?
Ok, so back to the example where you rear ended someone. We have already established that you are going to see your insurance rates go up. Now, we need to find out how long and how much will they go up.
State insurance boards usually allow insurance companies to charge for a accident for 3 years from the day they started charging for it. Not from the time you got into the accident. You got in the accident in December and your policy runs from October to April. Your rates won't be affected until April of the next year and the surcharge will drop off 3 years from that April.
How much will your rates go up? Are they trying to get back the money they paid out for my claim? You can usually expect a rate increase of between 20-40% on average per six months. They could go up even more if you lose some discounts you were getting, such as a claim free discount.
The increase is not a recoupment of the monies paid out by your insurance company. It is designed to charge you a premium based on the risk, or chance, that you will get into another accident in the next 3 years. You are a higher risk to the insurance company and they are able to charge you for the higher risk you present to them.
If it was based on how much the insurance company paid out then you wouldn't be able to afford it if you totaled out your 2004 Nissan Maxima at $25,000 and you had to pay that back within the 3 year surcharge period. Makes sense? Good, now get off the cell phone!
Sunday, December 9, 2007
Monday, November 26, 2007
How Do I Lower My Auto Insurance Rates?
Since there are many factors that go into determining your auto insurance rates, there are many chances to lower your rates.
If you change jobs and your drive to work changes or you stop working or you work from home, you should contact your insurance company.
If you have a teen driver and they go to school over 100 miles away without a car then you should be able to get a discount.
If you get married and are in your teens or twenties call your insurance company and see about combining your policies.
Take defensive driving if your state allows it for a discount.
See if increasing your comprehsive and collision deductibles will save you a lot of money. You need to compare what you're saving and how much more you will have to pay if you file a claim. For example, if you go from $500 to a $1000 deductible and it lowers your insurance $50 per 6 months then it saves you $100 a year.
It will take you 5 years to break even from what you are saving compared to how much more you have to pay.
Now, if it saves you $250 every six months then it would be more worth your while.
See if combining your auto and home insurance polices will qualify for a multi policy discount with your current company. This could be a substantial discount.
One of the biggest ways you could save $200-$500 or more a year is shopping around for insurance. The auto insurance industry is very competitive and this is great news for smart consumers like yourself. Shop for auto insurance quotes here and see how much you can save.
If you change jobs and your drive to work changes or you stop working or you work from home, you should contact your insurance company.
If you have a teen driver and they go to school over 100 miles away without a car then you should be able to get a discount.
If you get married and are in your teens or twenties call your insurance company and see about combining your policies.
Take defensive driving if your state allows it for a discount.
See if increasing your comprehsive and collision deductibles will save you a lot of money. You need to compare what you're saving and how much more you will have to pay if you file a claim. For example, if you go from $500 to a $1000 deductible and it lowers your insurance $50 per 6 months then it saves you $100 a year.
It will take you 5 years to break even from what you are saving compared to how much more you have to pay.
Now, if it saves you $250 every six months then it would be more worth your while.
See if combining your auto and home insurance polices will qualify for a multi policy discount with your current company. This could be a substantial discount.
One of the biggest ways you could save $200-$500 or more a year is shopping around for insurance. The auto insurance industry is very competitive and this is great news for smart consumers like yourself. Shop for auto insurance quotes here and see how much you can save.
Wednesday, July 25, 2007
What to do in the case of a death in France
THE first thing that is required is for a doctor to make a constat de décès - to legally state that the person has died. The doctor will provide a death certificate, apart from in the event of a violent death such as one from an accident or a suicide. Violent deaths must be notified to the police or gendarmerie, who then provide a death certificate.
Next, and within 24 hours, an official déclaration de décès must be made, which can be done by anyone. If you contact a local funeral director's (pompes funèbres) they will do this for you. However, if the death occurs in hospital, the hospital will make the declaration for you at the local mairie. Otherwise, you should declare it yourself at the mairie where the death occurred, by taking a form of ID to prove who you are, as well as ID for the deceased which can include the deceased person's passport or a birth or marriage certificate (or a copy of them). You must also bring the death certificate. You have to sign the declaration de décès.
The mairie will then provide a burial permit (un permis d'inhumer). The burial may not take place until at least 24 hours after the death and no later than six days (not including Sundays and bank holidays). If required, authorisation to take the body out of the commune in which the coffin has been sealed must be obtained from the mairie of the commune separately.
In the case of a violent death a judge will give authorisation for a burial permit to be provided after a forensic doctor has made a report and the police have investigated. For further help you should speak to your mairie or, in the event of a violent death, contact the police or gendarmerie.
If the deceased person had not reserved a cemetery plot, enquiries must be made as soon as possible at the mairie of the relevant commune. A covering surface should be placed over the grave within three months and, after that, a headstone or other monument can be installed.
Permission for a cremation has to be sought separately, from the mairie where the person died, or, if the body has been moved, the one in the commune where the body was placed in the coffin.
Other matters to be considered following a death include:
Inheritance rights. If there is no will and an estate worth less than €5,335, the surviving spouse or direct heirs can seek a certificat d'hérédité (inheritance certificate) from the mairie of the commune where the deceased lived, or that of one of the heirs, allowing them to inherit.
This should be done as soon as possible. In all other cases it is necessary to speak to
a notaire (lawyer). There is no strict time limit for this, although notaire Pierre Lemée, from the Calvados department in Normandy, advised it should be done within two weeks to a month.
This is because it takes time to assemble the relevant paperwork and if the process takes longer than six months then financial penalties are incurred by the heirs.
Income tax. In the six months after the death, the surviving spouse or one of the heirs must declare the family income between January 1 and the date of the death. Secondly, before the usual date when income declarations have to be made (the next one will be spring 2008) the spouse or civil partner should declare their own income, and that of any dependents, from the date of the death up to the end of the year when the death occurred. These declarations must be made at the Centre des Impôts (Tax Centre) where the deceased person lived. In their own income tax declarations, a surviving spouse continues to benefit from income tax deductions connected to being married.
Pension Payments. A surviving spouse of a person who was retired, or near to retiring, may be eligible to receive their pension payments, or part of them.
The surviving spouse of a working person, or one who was registered unemployed, or claiming disability benefits, may be entitled to temporary widower's benefits (allocation veuvage).
If the deceased person paid into the French social security system a payment called capital-décès - equal to three months' salary (within limits) - is paid out to their spouse or dependents to help with the costs associated with the death.
It should be claimed from the local Caisse Primaire d'Assurance Maladie within a month of the death, otherwise it is paid automatically after a period of two years.
Next, and within 24 hours, an official déclaration de décès must be made, which can be done by anyone. If you contact a local funeral director's (pompes funèbres) they will do this for you. However, if the death occurs in hospital, the hospital will make the declaration for you at the local mairie. Otherwise, you should declare it yourself at the mairie where the death occurred, by taking a form of ID to prove who you are, as well as ID for the deceased which can include the deceased person's passport or a birth or marriage certificate (or a copy of them). You must also bring the death certificate. You have to sign the declaration de décès.
The mairie will then provide a burial permit (un permis d'inhumer). The burial may not take place until at least 24 hours after the death and no later than six days (not including Sundays and bank holidays). If required, authorisation to take the body out of the commune in which the coffin has been sealed must be obtained from the mairie of the commune separately.
In the case of a violent death a judge will give authorisation for a burial permit to be provided after a forensic doctor has made a report and the police have investigated. For further help you should speak to your mairie or, in the event of a violent death, contact the police or gendarmerie.
If the deceased person had not reserved a cemetery plot, enquiries must be made as soon as possible at the mairie of the relevant commune. A covering surface should be placed over the grave within three months and, after that, a headstone or other monument can be installed.
Permission for a cremation has to be sought separately, from the mairie where the person died, or, if the body has been moved, the one in the commune where the body was placed in the coffin.
Other matters to be considered following a death include:
Inheritance rights. If there is no will and an estate worth less than €5,335, the surviving spouse or direct heirs can seek a certificat d'hérédité (inheritance certificate) from the mairie of the commune where the deceased lived, or that of one of the heirs, allowing them to inherit.
This should be done as soon as possible. In all other cases it is necessary to speak to
a notaire (lawyer). There is no strict time limit for this, although notaire Pierre Lemée, from the Calvados department in Normandy, advised it should be done within two weeks to a month.
This is because it takes time to assemble the relevant paperwork and if the process takes longer than six months then financial penalties are incurred by the heirs.
Income tax. In the six months after the death, the surviving spouse or one of the heirs must declare the family income between January 1 and the date of the death. Secondly, before the usual date when income declarations have to be made (the next one will be spring 2008) the spouse or civil partner should declare their own income, and that of any dependents, from the date of the death up to the end of the year when the death occurred. These declarations must be made at the Centre des Impôts (Tax Centre) where the deceased person lived. In their own income tax declarations, a surviving spouse continues to benefit from income tax deductions connected to being married.
Pension Payments. A surviving spouse of a person who was retired, or near to retiring, may be eligible to receive their pension payments, or part of them.
The surviving spouse of a working person, or one who was registered unemployed, or claiming disability benefits, may be entitled to temporary widower's benefits (allocation veuvage).
If the deceased person paid into the French social security system a payment called capital-décès - equal to three months' salary (within limits) - is paid out to their spouse or dependents to help with the costs associated with the death.
It should be claimed from the local Caisse Primaire d'Assurance Maladie within a month of the death, otherwise it is paid automatically after a period of two years.
Wednesday, February 21, 2007
Life insurance
Life insurance (life assurance in louise) is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured's death. In return, the policyowner (or policy payor) agrees to pay a stipulated amount called a premium at regular intervals.
As with most insurance polices, life assurance is a contract between the insurer and the policy owner (policyholder) whereby a benefit is paid to the designated Beneficiary (or Beneficiaries) if an insured event occurs which is covered by the policy. To be a life policy the insured event must be based upon life (or lives) of the people name in the policy.
Insured events that may be covered include:
death, diagnosis of a terminal illness, diagnosis of a critical illness, disability due to ill health, permanent disability, accidental death requirement for long term care. (This list is not exhaustive).
Life policies are typically presented as types legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; for example claims relating to war, riot and civil commotion.
Life based contracts tend to fall into two major categories:
Protection policies - designed to provide a benefit in the event of specified event, typically a lump sum payment. Investment policies - where the main objective is to facilitate the growth of capital by regular or single premiums.
car insurance companies
Car insurance rates becomes essential after purchasing of car and hence it is beneficial for the consumers to get the car insurance rates.The people who gets car insurance may find it a little difficult and may even struggle to pay the insurance bill every month becauase the insurance rates are fluctuating and keep varying from time to time. Hence it is advisable to have the issue of car insurance cost to be sorted out earlier and find a solution for it so that it does not pose a problem later.
Generally people are made to pay too much for Car insurance and hence it becomes little difficult to save some money with it.There are some companies though where you are not made to pay too much for the same coverage of insurance and this is where the people are tend to shift their loyalty.
travel insurance
Travel is a major part of everyone’s life as more and more of us take holidays and make business trips abroad.The purpose of travel insurance is to provide protection for travelers against the unique risks associated with travel, before trip departure and during the trip itself. Many of these risks, such as trip interruption, are not generally covered by any other insurance available to travelers.
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