1st Media Finance

January 6, 2011

A Few Important Points Motorists Need To Know When Purchasing Car Insurance

Here are a few important points that all motorists need to know about when looking for car insurance deals. These points can help you save some money as well in the process.

One of the main ways that a motorist can save money on their motor insurance premium is to have a healthy no claims status. Insurance firms use this as one of their main factors for calculating a policyholder’s risk. If you are lucky to have more than five years under your belt for no claims then you’ll receive a sufficient discount that can help reduce your quote. The more years you have the more likely you are to get a cheaper deal. It might be worth considering protecting your status too; it only costs a few pounds to protect your no claims bonus for a few years.

Depending on the method of payment that you decide to choose can have a positive affect on the price of the policy. If you decide to make a single one off charge for the full amount you will only pay for the total amount quoted. But, if you wish to pay in monthly instalments via direct debit from your bank, then you could find that you will incur an extra charge for choosing this method of payment. Be careful, because insurers o tend to change new policyholders a big interest charge for selecting to pay for their insurance this way. So if you want the cheapest form of payment, always try and pay it off in full if you can afford it.

Voluntary excess can be a good thing to new policyholders when purchasing insurance. It depends which way you want to look at it. If you want a cheaper car insurance premium and are prepared to pay out less in premiums and more if you need to make a claim, then it can be seen as a good thing to most motorists. On the other hand some policyholders do not want to pay a higher amount in voluntary excess and more when making a claim. You need to weight up that is best for you and your circumstances.

December 19, 2010

How Much Should a Mortgage Insurance Policy Cost?

If you are looking to purchase a mortgage insurance policy, you will without doubt want to look for an insurance company that can offer you cheap mortgage insurance. You would already have spent thousands of dollars in purchasing the home and would want to save as much money as possible to spend on other household essentials. However, the mortgage lenders would have made it incumbent upon you to purchase such an insurance policy. Lenders would be looking to safeguard their interests when they ask you to purchase such a policy. However, by choosing to purchase an insurance policy that is available with a low mortgage insurance rate, you will be hampering your own chances of making a claim if the need ever arose.

How much money do you think you will save by purchasing cheap mortgage insurance? The difference between a regular insurance policy and a policy offered with a cheap mortgage rate may not be high. However, the kind of coverage that is offered under a regular policy will be vastly different from that offered by a company selling cheap insurance. If you ever had to make a claim against the policy you would want to ensure that your interests are fully safeguarded as well. You would not want the insurance company to tell you that they will only cover you for a period of 30 to 90 days, after which you will have the either start repaying the mortgage yourself or put your house up for a foreclosure. The cheap insurance policy that you purchased will suddenly looked very expensive to you, under such conditions. If you stop for a moment and think carefully, you will realize that are cheap mortgage insurance policy may not really be worth the money you are spending on it. The insurance company may let you down when you require it, most. You would also not have saved thousands of dollars by indulging in the purchase of such insurance. You must understand that the insurance policy will not be offered to you free of cost. Charges will be associated and they are not likely to go down beyond a certain level. Therefore, think carefully before you purchase a cheap mortgage insurance policy.

November 29, 2010

Affordable High Risk Life Insurance

If you’ve ever tried to get a life insurance policy before but suffered from an impaired risk such as high blood pressure you know how hard it is to find a provider much less one with reasonable prices.  So in this article I’m going to cover 3 things you can do to cut down the cost or high risk life insurance.

The first thing you’ll want to do is start as early as possible.  The reason for this is because age plays a very important role in how much you’ll pay for your life insurance.  Every year you get older the more you will have to pay.  Then to boot if you have an impaired risk such as high blood pressure it could end up getting worse over time which will cost you more in the end.

Second, you’ll want to try many different high risk life insurance companies when it comes finding the coverage that is right for you.  The reason for this is because life insurance companies all follow different underwriting guidelines.  This means what one company will accept others will not.  In fact I had a client who could get approved by one company because he suffered from a slight depression issue, so I tried a few other companies and some had no problem taking on the policy.

Finally, if you have an impaired risk go with term versus whole life or universal life policies.  Term will cost far less than permanent policies because they only charge you for the cost of insurance rather than for things like cash value accounts.

On top of that they also make a better option because it allows to cut down the term policies length to make it cheaper.  For example I once ran a quote for a guy who wanted a term policy and the cost for a 30 year term was $70 while a 10 year term was only $25.  That’s $45 a month in cost difference that you could save in the end.

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