Insurance expert

Insurance expert

12/7/19

Car Rental Insurance Tips

12/07/2019 0
As you gather your bags from the luggage terminal, the last stop on your way out of the airport is the car rental counter. Before you get the keys, the agent asks you whether you want insurance to protect against potential problems while you have the vehicle. Before you sign up for car rental insurance coverage, make sure you understand the coverage and whether you might already have this protection.

Primary Types of Coverage
Most car rental companies offer loss damage waivers (LDW) and collision damage waivers (CDW). For most rental car companies, LDW coverage protects you if someone steals or vandalizes the car while you are renting, a tree limb falls on it, or some other non-collision damage occurs. Some companies also include damage from hitting an animal in LDW coverage. CDW coverage pays for damage to the car if you have a collision with another vehicle.
Coverage Add-Ons
In addition to the primary coverage types, most companies also offer additional liability insurance supplements, which step in if your car insurance has low liability limits and you cause an accident that exceeds these limits. Many companies also offer accidental death and personal property insurance. Personal property insurance pays a small amount to cover loss or damage to your belongings in the car, while accidental death pays your beneficiaries if you die in a crash while in the vehicle.
Double Coverage
Sometimes purchasing rental insurance ends up giving you double coverage. Before you rent your next vehicle, check with your current car insurance provider to find out whether your policy extends to rental vehicles. Also, check with your credit card company to see what protection it offers. Many cards, such as American Express, offer automatic insurance coverage when you pay for a rental using that card. If you have a homeowner’s insurance policy, it likely covers your belongings in the rental car. If you have sufficient life insurance, you likely do not need accidental insurance coverage.
Know Your Needs
Unless you have a problem while renting the car, car rental insurance coverage provides significant profit for the rental agency. Because of this, car rental companies train their workers on making a winning sales presentation. While these products may help you, purchasing coverage that you already have simply wastes your money. Research the options before you head out on your trip and know your needs before visiting the car rental counter.
When to Buy
If you currently have nothing but liability coverage on your car insurance policy and your credit card company provides no coverage, consider purchasing the LDW or CDW policy offered by the rental company. For less than $20 per day in most situations, you will be protected if there is any damage to or theft of the car. However, if you have collision and comprehensive coverage that extends to the rental vehicle, and you can cover your deductible if you experience a problem, consider waiving this added expense.
What To Do If a Rental Car is Stolen?
Traveling in a rental car makes exploring a new locale easier, faster and safer, but if the vehicle comes up missing, you bear the liability. Taking the insurance option during the rental process may shield you from some expenditure, but you must still manage the inconvenience of losing the vehicle and your personal property. Don't waste time if your rental is stolen; if you do, it could cost you more.
STEP 1
Call the local police and report the vehicle stolen. Remain calm and explain to the officer that the car is a rental. Describe any personal possessions that you left in the car, such as a suitcase or electronic equipment.
STEP 2
Contact the rental company. Explain to the representative that you must fill out a police report and request the car's tag and vehicle identification numbers (VIN).
STEP 3
Request an accident/incident report form from the car rental agency. Verify with the rental agency what type of liability insurance you opted for. Most car rental companies have three types of rental insurance: liability which protects you in case of accidents; passenger protection, which covers you and any passengers; and full coverage. Full coverage insurance is usually pricey but limits the financial responsibility of the customer if the car is stolen.
STEP 4
Check with your credit card company if you paid for the rental with a credit card but did not opt for theft coverage from the rental company. Customers who do not own a car may have rental theft covered by their credit card company. If you do have regular car insurance, it is possible that your credit card company offers secondary coverage in these cases. Call your credit card company to find out the details of your services and coverage.
STEP 5
Ask your personal car insurance company for help. Some car insurance policies also cover you when you rent a car.
STEP 6
Request a new rental. Some companies assist customers by delivering a car to your location; others require you to visit the rental lot before replacing the vehicle. If you did not opt for rental insurance, the rental company may refuse to rent you another car.

How to Insure Your Rental Car

Vacation costs can really add up. After booking hotel room, buying plane tickets, paying for a cab ride to the airport and renting a car, you're probably eager to find ways to eliminate unnecessary expenses. Don't give in to the temptation to skimp on insurance, however. A few extra dollars may save you hundreds or even thousands in the event of an accident. Relax and enjoy your vacation knowing you're covered by making sure your rental car is adequately insured.
STEP 1


Contact your primary vehicle insurer to see if other insurance options are available while renting a car. Options vary considerably by provider, location and plan, so only your agent will be able to tell you whether you're already covered while traveling.
STEP 2
Inquire about public protection plans. In most cases, a rental agency will automatically carry the minimum insurance allowed by law on all vehicles, at no extra charge. However, depending on state laws, this coverage may be secondary to your personal insurance, which means the agency's insurance will not apply until your primary plan benefits have been exhausted.
STEP 3
Reduce the financial liability for damage incurred while the car is in your possession by purchasing a loss damage waiver through the rental agency. As long as you abide by the terms and conditions of the rental, this protection option (which is technically not insurance) will eliminate any deductible your personal insurance or credit card company may hold you accountable for.
STEP 4
Purchase personal accident insurance to protect yourself from expensive medical bills in the event of an accident. Coverage varies by provider, but an average plan will provide accidental death benefits of up to $250,000 and emergency medical insurance of up to $2,500 plus $250 for ambulance fees. All passengers are covered while in the rental car, but you (the renter) are covered 24 hours a day. Though this insurance option may seem unnecessary, it is a good idea if you have high-deductible medical coverage or if you would otherwise purchase supplemental traveler's insurance.
STEP 5
Insure your belongings and personal property with a personal effects protection plan. The rental agency's insurance provider will reimburse losses or damages up to $600 per claim, up to a total of $1,800. This is especially useful if you are traveling with valuable items.
STEP 6
Increase your total protection for bodily injury, death or property damage up to $2,000,000, depending on location, by purchasing supplemental liability insurance. This insurance is always applied first, before your primary insurance is applied, limiting long-term expenses due to rate increases. This is a "premium" plan option that is most often purchased by non-nationals, as injury or damage during travel abroad can accumulate considerably higher bills.
How to Avoid Taxes & Extra Charges in Car Rentals
Just when you thought you found a great deal on a car rental, you got stuck with a final bill far larger than you imagined. Taxes, extra charges and hidden fees can turn that deal into a dreadful expense in a hurry. Avoid those sneaky surcharges by reading the fine print and paying close attention to details and terms disclosed online or at the rental office
Avoid Airport Rental Locations

An airport car-rental desk may be convenient, but it's rarely the place to get a good deal when renting a vehicle. Besides potentially charging a higher daily rate than an offsite rental office, an airport rental location may pass along extra airport "concession fees" that they are required to pay for their prime spot. These may amount to more than 10 percent of the entire rental bill, so the fees can really add up for lengthy rentals.
Skip the Extra Insurance

When you pick up your rental car, the agent may offer extra insurance to cover potential vehicle damage. In many cases, this insurance is overpriced and unnecessary. Furthermore, your own car insurance may cover you when you drive rented vehicles. Many credit-card companies also offer car-rental coverage. Before your trip, read the terms of both your car insurance and your credit card to determine whether add-on insurance is worth the investment.
Pay Attention to the Gas Gauge

Many car-rental agencies offer the option to prepay for gasoline so you don't have to refuel the vehicle upon its return. This option is convenient if you plan to use a full tank of gas and won't have time to refuel before returning the vehicle. The prepayment rate tends to be the same or even a little less than the average local gas-station fuel rates, so it could be a good deal if you do indeed return the car with a nearly empty gas tank. If you don't use much fuel, however, prepaying to refuel is a waste of money.
If you choose not to prepay for refueling the rental vehicle, note the gas gauge before your trip and be sure the rental agent agrees just how much fuel is in the vehicle. Return the vehicle with the same amount of gas in the tank or you'll be charged a hefty refueling charge, sometimes quadruple the going per-gallon rate. Driving a few minutes out of your way to refuel can save big money on your rental bill.
Forget the Add-on Gadgets
A GPS unit comes in handy when driving in an unfamiliar area, so many rental cars offer them at the rental counter for a daily charge. Instead of renting a GPS unit, pack your own or use a smartphone app to map out your driving routes instead.
Some agencies also rent child car seats as well. If it's not too inconvenient, bring your own on the trip to prevent yet another add-on to the daily car-rental rate.
Check Your Card Statement After the Trip
Compare your final rental-car charges with the bill given to you upon the car's return, making sure the amounts are the same. If the numbers simply don't add up, call the rental company and question the charges. Usually the company will remove or refund a charge made in error.

Source: traveltips.usatoday.com





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12/4/19

Property Insurance

12/04/2019 0
Learn about the different types of insurance for your property.
Auto Insurance
Flood Insurance
Homeowners and Renters Insurance



Auto Insurance
Auto insurance protects you from paying the full cost for vehicle repairs and medical expenses due to a collision. Some factors that affect the premiums you pay for this protection, include your:
  • Gender
  • Age
  • Marital status
  • Credit history
  • Car's make and model
  • City and neighborhood
Types of Auto Insurance
Every state requires drivers to have auto insurance. If you don't have insurance, you must have financial responsibility waivers. These waivers ensure that you can pay for property damages or medical expenses. There are several components that can make up your insurance policy: 
  • Liability coverage protects you if you are at fault for a collision. It pays for medical expenses and vehicle damage for the other driver and passengers. 
  • Uninsured motorist coverage pays for damages to your car and medical expenses if an uninsured driver hits your car.
  • Collision coverage pays to repair your vehicle, if you were at fault for the damage.
  • Underinsured motorist coverage pays damages for your car if someone hits it, but their insurance can't pay for your car damages.
  • Comprehensive coverage pays for damage to your car due to theft, fire, or falling objects.
Auto insurance requirements vary from state to state. Most states require drivers to have liability coverage. You may choose to opt out of certain types of coverage, depending on your budget and car’s age.
Be sure to read the declarations page of your auto insurance policy. This page is a  summary of your policy. It includes: 
  • The length of coverage 
  • Annual premium
  • The largest amount your insurance company will pay out for each type of claim, and
  • How your insurance company splits your premium payment between each part of your coverage
Homeowners and Renters Insurance
Homeowners insurance protects your home and personal property against damage or loss. It insures you in case someone gets hurt while on your property. You may already have insurance on your home if you have a mortgage on the property.
Renters insurance offers renters coverage similar to homeowners insurance. 
What Can Homeowners or Renters Insurance Cover?
Homeowners or renters insurance may pay claims for:
  • Damage to your home, garage, and other outbuildings
  • Loss of furniture and other personal property due to damage or theft, both at home and away
  • Extra living expenses, if you live in temporary housing until your house is being repaired
Homeowners or renters insurance may also pay for:
  • Physical injury and property damage that you cause to others through negligence
  • Accidents happening in and around your home, as well as away from home, for which you are responsible
  • Injuries occurring in and around your home to anyone other than you or your family
  • Limited coverage for money, gold, jewelry, and stamp and coin collections
  • Personal property in storage.
Keep these points in mind when shopping for homeowners insurance:
  • Insure your house, not the land under it. If you don't subtract the value of the land, you will pay more than you should.
  • Buy enough coverage to replace what is insured. "Replacement Cost Coverage" gives you the money to rebuild your home and replace its contents. An "Actual Cash Value" policy pays the value of the property, at the time of loss. It usually pays less than "Replacement Cost Coverage" policy would, because of depreciation for age and wear.
  • Ask about special coverage you might need. You may have to pay extra for computers, cameras, jewelry, art, antiques, etc.
  • Flood and earthquake damage are not covered by a standard homeowners policy. Earthquake policy premiums depend on the likelihood of earthquakes in your area. Consider getting flood insurance, especially if you live in a flood prone area.
  • Remember that landlords rarely insure your personal belongings.  You will need to buy your own renters policy.
Flood Insurance
Homeowners and renters insurance do not typically cover flood damage. The National Flood Insurance Program (NFIP) helps reduce the impact of flooding for renters, property owners, and businesses. Even if you live in an area that is not at high risk of flooding, you may still be required to have flood insurance.
How to Apply for Flood Insurance

  • Find out if your community participates in the program. You can only purchase a flood insurance policy if you’re a renter, homeowner, or business owner, and your property is located in an NFIP participating community.
  • Contact an insurance agent in your area. You can only buy flood insurance through an insurance agent; you cannot buy it directly from the federal government. If your local insurance agent is unfamiliar with the NFIP, you can find an agent serving your area by calling the NFIP Help Center at 1-800-427-4661.
What Flood Insurance Covers and Other Things You Should Know
  • There are two types of flood insurance coverage: building property and personal property (contents). Flood insurance only covers physical damage to your building or personal property directly caused by a flood. The NFIP advises that you buy both types of coverage.
  • Rates are set nationally and do not differ from company to company or agent to agent. These rates depend on many factors, such as the  date and type of construction of your home and your building's level of risk.
  • Typically, there's a 30-day waiting period from the date of purchase before your policy goes into effect.
  • All National Flood Insurance policies include a congressionally-mandated surcharge. If your community participates in the Community Rating System, you may qualify for an insurance premium discount.
  • Contact your flood insurance agent to make changes to, pay for, or renew your policy. If your mortgage lender requires you to have flood insurance, ask them questions about renewing or changing your policy.
File a Complaint
If you have a problem with an insurance company or agent regarding flood insurance, contact the company first. If you cannot find a solution, contact your state insurance regulator.

Source:usa.gov


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Visitors Travel Insurance Tips

12/04/2019 0
If you are planning a trip to USA, it is important to purchase visitor health insurance (also called International travel medical insurance) before the trip to ensure your medical expenses in the form of unforeseen medical situations, injuries, or sickness are covered. The following are some of the visitors travel insurance tips that can help you reduce your health expenses and avoid medical situations that commonly occur with parents and relatives visiting USA .



Get a physical checkup done before coming to USA
  • Even though you may not have any medical condition, it is a good idea to get a physical checkup done and consult your physician before making your trip to USA.
  • This will help you discover any medical and pathological condition beforehand, and a doctor's recommendation can help you better prepared for your trip.
Bring enough medicines
  • If you are on medication, bring enough supplies.
  • You may also want to carry general medicines, pain reliever, fever reducer, etc.
  • Cost of physician and medicine can be very high compared to what you could have saved if you had brought your prescribed medicine with you on your trip.
Get an extra pair of eyeglasses
  • Don't spend hundreds of dollars for something you can get for much less in your home country. Eyeglasses can be expensive in USA.
  • If you wear eyeglasses, bring an extra pair in case you lose or damage the first pair during the trip.
Self monitoring medical tools
  • People who are diabetic or have high blood pressure can use self-monitoring tools for taking measurements.
  • You may get these from any superstore like WalMart, Walgreens, etc. which cost less and are easy to use.
  • You don't want to spend lots of money for preventative readings of your blood sugar or blood pressure on routine basis.
Proper clothing
  • Do not travel unprepared for the weather. In a big country like USA, the weather depends on what part of the country you are visiting. Do some research beforehand and carry your clothes accordingly.
  • Avoid weather-related sickness.
  • Getting cold, flu, heat stroke, and allergy is very common if you are not informed and prepared.
Avoid accidents: Get familiar with traffic rules
  • Get familiar with road rules.
  • Your host should provide a orientation about the general rules for safety.
Avoid accidents: Watch your steps
  • Watch your steps, avoid accidents of tripping on sidewalks and curbs.
Avoid accidents: Get familiar with surroundings
  • Get familiar with general house hold or surroundings. For example, learn how to operate the hot water faucet, as not knowing how to control hot water in the shower can lead to burns/injury.
  • The host must provide this information to their visiting guest.
Eating habits

  • Eat good food that is safe for you, to avoid medical situations. For example, a diabetic person should follow their diet menu.
  • Eating out very often can lead to many problems for aged parents.
  • The host must pay attention and be careful for these things when their parents are visiting them.
Stay physically active

  • Stay active. Go for a walk or any physical activity. Remain healthy by adopting a physical and active lifestyle.
  • The host should guide their guests and take them for a walk or any other activity, especially if the guests are their parents or relatives.

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