There are different types of home insurance available, basically it is broken down into the following categories:
HO-1 is a very basic home insurance, it covers against fire and lightning damage.
HO-2 cover more damages such as theft, explosion, smoke, storm, riot, ice, bursting of water pipe, gas pipe etc
HO-3 insures your house and structure against loss or damage from any caused except those specifically excluded in the policy. This is one of the most popular home insurance. Please pay attention on the excluded item as it may be required depending on the location and surrounding of your house.
HO-4, also a tenant’s policy insures your household contents stipulated in HO-2, it also provide additional coverage for living expenses reimbursement, medical treatment and third party liability.
HO-6 is specifically tailor made for condominium owner who would like to insure their household contents and personal belonging on top of the master insurance policy cover the building structure.
HO-8 is making for older house. The policy is mainly taking care of the old building where original items may not be available anymore.
Please take note the above is just a basic guideline, you are recommended to consult your insurance advisor to determine the necessary coverage needed for your house.
Home insurance or some call it household insurance is a type of insurance that covers the losses of your house content due to crime, fire or others natural disaster.
For example, you may insure your household content for a total of $30,000.00 against fire for a period of a year. Once the premium paid, if your house caught fire and destroy the content in the house, you are allowed the claim $30,000 from the insurance company. Of course this is still subject to the approval from the insurance company after going through all the investigation process.
It is a fix term insurance where you pay a fix amount of premium in return for a sum of money paid to you in the event of loss of assets due to crime, fire or others natural disaster. It is a yearly renewable insurance.
It is worth to mentioned here that natural disaster or act of god is usually an optional insurance on top of the general home insurance, since it may not happened in certain area depending on location ( If you are staying at hilly area, you don’t need a flood insurance coverage, If you are not staying at the earth quake belt, you don’t need an earth quake insurance ). Others optional insurance including war and riot.
Auto insurance is a must before we can bring our car on the road. Auto Insurance also cost a lot of money depending on the sum of insured, our age, gender as well as the types of insurance.
Finding the best auto insurance rate is most of the car’s owner objective, thanks to the Internet, we are able to find the best auto insurance rate without visiting the insurance company.
After determine the types of insurance need and the sum of insured needed for your vehicle, search “best auto insurance rate” will provide you with tons of result.
Some auto insurance Website provide a calculator where after you key in all the relevant information such as sum of insured, age, gender etc, the premium will presented immediately.
Please take note that there are a numbers of options such as windshield, natural disaster, medical etc. If you were to compare and get the best rate for your auto insurance, please take the above option into consideration.
After you gather the above information about the best rate that you have, call up your existing insurance company that you purchase insurance from ( such as life insurance, medical insurance, fire insurance etc ). Ask them to provide a quote based on your criteria, they usually offer a better rate for existing customer.
Insurance company has made the claim process very straight forward and simple provide you follow the proper procedures. Under normal circumstances, you should get your money in 3-4 months time.
1) First, you need to make a police report for the accident. Insurance company will not entertain any claims without a complete police investigation report.
2) Determine what kind of insurance coverage you had purchased and determine if it is worth making a claim. Please take note that you need to pay an excess fees under some circumstances, it might not worth pursue the claim. In some country, insurance company practice NCB( No claim bonus ), it means if you do not file a claim in the coverage period, you will entitle for a discount for the next renewal. So if the amount of the claim is much less than the discount you will enjoy in the coming years, it is not worth to file the claim.
3) File the claim fast and provide all necessary documents. Insurance company usually has a list of guideline that you must follow for a claim. Please follow all the necessary procedure and submit the relevant documents required. Please also take note that there is a limited duration for a claim as well.
4) Seek assistance from your auto insurance agent if you have one, or the insurance company or even the garage repair you car will be more than happy to assist you.
The purpose of the auto Insurance is to pay the damage of the vehicle insured or third party damage should an accident happened.
First we must determine who is the owner of the vehicle, if the vehicle is still under finance leasing, then you will not have a say on how much to insured for your vehicle as the finance company is rightfully the owner of the vehicle.
If a car is till under finance leasing, you have to go for comprehensive insurance where it cover all the parties involve in the accident. The sum of insured is usually the market value of the vehicle. Finance company usually has a guide line to determine the market value of the car.
You do have the option to purchase option insurance such as windshield insurance, natural disaster insurance etc.
If your car is not under the finance leasing anymore, then you can determine the amount that you want to insure. For example your car value is $15,000, you may insure it for only $6,000 if you think the amount is sufficient for you to repair your car should an accident occurred. Please take note that the sum of insured is the maximum payout from the insurance company should you make a claim if an accident occurred.
