When it comes to insurance, it can be difficult to get extensive coverage for a lesser monthly premium. The normalcy of lowering your premium would involve lowering the amount of coverage you have. However, establishing a long history with your insurance company is the first step in getting the amount of your monthly premium reduced. Car insurance is a perfect example of this. When you turn 18 and get your own car for the first time, your monthly premiums will be through the roof. But once you establish a great driving record with minimal to no accidents by the time you turn 25, you will see a dramatic decrease in your monthly premium amount. Not only will you still get the same coverage you had before, but you may even get additional coverage for a lower price. The reason for this is because it tells the insurance company that you are responsible and not a risk for getting into an accident. Therefore, they reward you by lowering your premium amount and offering you additional coverage.
nw5cy7otgwiv-r1280x0According to Australian insurance company called Youi, another great way to pay less for your insurance is to combine multiple types of insurance together, like car and home insurance. If you get coverage for both of these insurances with the same company then they are likely to lower your premiums for both as a reward. Also, you should research additional discounts available for things like being a senior citizen or having safety devices installed in your car, such as an anti-theft device. Something like that tells the insurance company that your property will less likely be stolen and they won’t be at risk to having to compensate you for its theft. Also, pay attention to what you filled out on your insurance application.


Do you remember seeing a question for something like, “How will you use your vehicle?” Most people put that they use their car for going to work. That will raise your premium because most accidents happen around 5PM during rush hour. So, if you take public transit for going to work then you can just put that you use your car for personal use. That will lower your premium considerably. Also, who is driving your car? If you are the sole driver of your vehicle then don’t put any extra drivers on your policy because you will be paying for additional coverage that you don’t need.  These are the types of things you need to look for to lower your premiums while increasing the amount of coverage you can get.

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A family can take a trip for a number of reasons, it can vary from a simple summer trip to trips for attending a wedding, wakes, funerals and more. No matter the destination, each time you take a family trip you are exposed to the same risks as anybody else. To provide protection for your family you should always consider purchasing a family travel insurance.

Next we will list a couple of the risks you are exposed while on a family trip. The most important thing you should consider when thinking of your family’s safety is having the right travel insurance.Here are some of the risks your family is exposed to while on a family trip:


1. Accidents at home. While taking a family trip you should remember that your house remains vulnerable to vandalism, damage or theft. If that is the case you probably want to return home immediately to assess the damage and take care of the situation. Having the right type of travel insurance will provide reimbursement of some of your prepaid travel expenses and also it will help you schedule a new flight home for you and your family.

2. Stolen rental car. In case you happen to be in an accident with your rental car abroad, your insurance at home will do nothing to help you and you would end up wasting a lot of your budget on repair costs, but a good and cheap travel insurance will cover all the related costs. Having a good travel insurance with the right coverage will provide protection for you and your family if your rental car get’s stolen or damaged.

3. Destination suffers an accident. The situation might arise when you’re destination residence becomes inhabitable due to different reasons such as: natural disasters or different traffic accidents. In such cases, the right travel insurance with the right amount of coverage will help you recover your prepaid costs and even help you make alternative plans for your family trip.

4. Emergency medical situation. Having a sick child on a trip and not being able to provide the needed support is a horrible situation. You may find yourself in the situation of having a sick child or party member and not knowing where the nearest medical facilities are or not knowing the native language. Having a travel insurance with medical coverage for your family will provide the needed coverage for your medical expenses and even help you with foreign language problems. In case you are the one that needs medical attention and there is no one to look after your children, you can contact your travel insurance company to bring someone from home.

5. In need of help or advice. While on a family trip you can find yourself in need of help. If that is the case you can call your travel insurance representative for some travel advice or legal advice. Your travel insurance company will also provide help if you need foreign language assistance.

These are some of the risks you can be exposed to while on a family trip. Planning ahead is the key to having a safe trip, that’s why before taking a family trip you should always consider purchasing the right type of travel insurance for your family but also the right coverage.

Knowing what kind of coverage you need

Knowing that kind of travel insurance your family needs is not the only important thing. What coverage your family needs while on a trip is also important. Here are some of the most common types of coverage useful while travelling with your family.

1. Medical coverage. Having a travel insurance with medical coverage wil provide protection for your family if someone becomes ill or requires emergency medical assistance or evacuation. Travel insurance with medical coverage will cover most medical expenses.

2. Car rental coverage. Travel insurance with car rental coverage will provide protection against the charges imposed by the rental car company while the car is being repaired and the costs of repair.

3. Evacuation coverage. Repatriation/evacuation coverage for your travel insurance will provide protection for medical evacuations, cover the costs of bringing a family member to your bedside if you are hospitalized and your children are left unattended.

4. Trip cancellation coverage. A travel insurance with trip cancellation coverage will reimburse your familiarity’s pre-paid travel expenses if you have to cancel your family trip. Different travel insurance companies will provide coverage for different reasons of cancellation.

5. Trip interruption coverage. This type of coverage will reimburse up to 150% of your unused travel costs and will provide the needed resources to get yourself and your family safely home in case you need to interrupt your family trip.

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Types of Homeowner’s Insurance

Posted by August 9, 2016

Owning a home can be a nervy business, for most of us, it might just be our biggest purchase in our lives. The high price we paid for our house also made it possibly our biggest liability if it is not managed properly. We could go broke just by having our house blown down by a typhoon, or burn down for example. Insurers see our fear, and creates various types of homeowner’s insurance to suit our different needs. Here are a few usual types these insurers often offer:

#1 Comprehensive – This is probably the most complete and inclusive home insurance policy – hence the name comprehensive. This type of policy covers both the building, and its contents (furniture, appliances etc) from all risks, except those stated in the policy contract (act of war for example are not covered). Some other items are also not covered as well, such as those that you can buy separate insurance for (eg. cars), or those which insurance is not available (uninsurable peril).


#2 Basic – Also known as named perils policy, this policy only covers a certain perils that are specifically stated in the policy. Insurers often allow the homeowners to decide which hazard are to be covered, and which ones are not to be (for example, you can ask the insurer to cover for earthquake, theft and storm damage but not fire). As a result, these types of policy are often cheaper that the comprehensive coverage. But of course, the homeowner will be exposed to more risk, as the coverage will not be as complete as the comprehensive policy.

#3 Broad – If you are not to keen to pay top dollars for a comprehensive coverage, and yet are not comfortable with the basic coverage, perhaps a broad coverage will be suitable. Broad coverage basically seeks a compromise between comprehensive and basic coverages, by providing comprehensive coverage on the big-ticket items such as the building, and yet only provides named perils coverage on the contents of the house. For example, your policy has comprehensive coverage on the building, and flood, earthquake and storm damage on the contents. If your house burns down, you will get compensation on the buliding (since its comprehensive coverage), but not on the contents (fire damage is not in the named perils). Broad policy are one of the most popular types of coverages amongst homeowners in North America.


#4 Bare Bones/No Frills – These type of coverages are often offered to houses that do not meet the insurer’s standards. There might be major issues with the house such as structural decay, or piping and heating problems. It only covers named perils, and some liability. It is advised that homeowners improve their property to qualify for better coverages.

Now that you have some understanding on whay types of homeowner’s insurance are there, perhaps its time to find out how you could qualify yourself for the cheapest homeowner’s policy?

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