Insurance Information

You want to get your home insured for a homeowners insurance. What would you do? The first option that would come to your mind would be to contact an insurance agent and get the policy form him with out knowing anything else about it. You have the policy and the agent is happy with his commissions. Well you need to know more about your homeowners insurance than that to avoid any kind of problems when it comes to making actual claims.

The best way to go about it is to do some research yourself. When you do this research you can consult the rating agencies of your state or even the internet can be a very good source of information. Find out what companies give the best deals out there and what kind of coverage they are giving, then the most important factor is to know about the service of the insurance company.

If you're entering the real estate market and looking to buy a home you are also going to have to look into buying homeowners insurance. If you're borrowing money to pay for a new home there is a very strong chance that your lender requires that you insure your home or they will not lend you the money. Whether you are a new home buyer looking to obtain coverage for the first time or you are a longtime homeowner looking to get a better deal on your coverage you may want to look into some homeowners insurance company ratings to help you make your decision.

If you own a home or are in the market to buy one you're going to need homeowners insurance, that's just a fact of life. But, most people are spending more than they need to for adequate coverage. A few minutes spent online doing some comparison shopping could save you a fortune. There is so much competition in the insurance industry today and so many different companies that want your business that spending a little bit of time to find a company with the best offer can save you a lot of money.

by Mike Newton

THE GOOD, THE BAD AND THE INSURED Mike Newton

Insurance talk? It is a dry subject, one that will make most want to reach for the pillow. However in a country where "lead floats and cork sinks", this seemingly mundane subject can present surprises and in insurance surprise is usually a dirty word. Although the nuances and peculiarities of Nicaraguan insurance are not as straight forward as one would hope; some basic knowledge will help you get on the right path. When shopping for insurance for your family, Nicaraguan home or car it is wise to keep in mind that many of the rules are not the same as at home. Knowing where some of the pitfalls are and how to avoid them is the focus of this article

NICARAGUAN INSURANCE COMPANIES Closely aligned with the banks and self-governing? Nicaragua has five insurance companies; four private and one public. The private companies, founded in the late 1990's, are owned or closely affiliated with local banks. It is no surprise therefore that the regulatory body for insurance, is basically a sub-department under the Nicaraguan banking commission, (SIBOIF). The one public insurance company was founded in Oct 1979, when all private insurance companies were nationalized and merged into what is now known as INISER.

The State insurance regulator has by law the task of regulating all aspects of the insurance industry. As a matter of practice, it does not get involved much with consumer to company complaints, but focuses more on company issues: such as capital requirements and the quality and type of re-insurance contracts the local companies use. In essence the industry is self-regulating in terms of claims paying procedures, interpretation of policy provisions, premium payments and other company client issues. Well meaning corporate intentions aside, some Nicaraguan companies do a good job and others don't. This is one of many reasons an honest, experienced insurance broker becomes a valuable mediator between the customer and insurance provider. A professional broker should be able to explain well beyond the details of this article, but this summary is a head start.

HOMEOWNERS INSURANCE My wife crashing through the garage is not covered, but 6% student mortar-fire is? The basic fire policy, which covers a structure in case of fire, lightning and explosion, is used in conjunction with the "optional" coverage to create insurance similar to a homeowner's policy like those in United States and Canada. What most would assume should be standard comes in an optional package called allied lines. This allows great price flexibility for the insurance companies to compete, but also could make many policies close to useless if cost is the only barometer. This allied lines package consists of insurance for earthquakes, tremors, volcanic eruptions, tidal waves, hurricanes, tornados, labor strikes, student riots, looting, collision damage to your home by cars or aircraft (other than your own), and incredibly, flooding. Even with an allied lines package, the rules of the game are often different. One example is that flooding in Nicaragua is covered opposite as it would be in a homeowner policy in the states. In Nicaragua water damage to a house is only covered if it comes in contact with the ground before it enters the structure. So leaks from the roof or water damage from a broken pipe in the ceiling are excluded under Nicaraguan policies. HOME CONTENTS When your gardener goes on vacation so does your theft insurance. The stuff inside your house, TV's, furniture, paintings can be insured under optional contents coverage. Contents in Nicaragua includes everything except; gold, silver, jewelry, precious stones, furs, paper money, stock certificates, checks, stamps, commercial documents, and the catch all "rare objects of art or collectables". Additional coverage included by some companies at no charge include medical payments for injuries to immediate family, and/or small liability coverage. Many of the insurance companies offer an option that protects your personal property and household items from robbery. Though somewhat incredulously if no one is home when your house is robbed then Nicaragua theft insurance is invalid. If you leave your home alone, it is not covered, although that's when you need the coverage the most.

REPLACEMENT VALUE OR ACTUAL CASH VALUE My home has appreciated and my insurance depreciated? In many countries insurance is based on the idea of replacing the loss. This concept is called Replacement Value. Nicaragua uses Actual Cash Value and most of the time value is established at the time of the claim. Sounds reasonable enough. However this can be problematic. First local companies apply a depreciation factor to the lost item. Secondly, as in the case with real-estate, the item insured usually appreciates so the declared value of a house in San Juan del Sur will generally increase over time not decrease.

A misunderstood and little known clause called "rule of proportional insurance" aggravates the idea of replacing your insured real-estate loss. Basically it states if the value of the insured house is higher than the declared amount in the policy, the insured is assumed to be a co-insurer by the percentage difference. Example: you insure your house for $100,000. Two years later it is worth $200,000. The percentage difference is 50% between the policy amount and the Actual Cash Value of the house. A damage claim for $20,000 would be paid out by the insurance company after deprecation and after subtracting 50% co-insurance. It works like this: $20,000 minus deprecation and minus the 50% con-insurer penalty. Truly bad news, but only for those who have not used a competent insurance broker, since the way to eliminate deprecation and the co-insurance penalty from your insurance policies is to have your broker get the insurance company to stipulate to an agreed upon value at the start of the policy.

AUTOS Accident after midnight? Sorry, we don't insure pumpkins. Auto insurance can seem like a no-brainer, with the significant difference being only the price, but this is not the entirely true. While there is considerable standardization in the auto policies each of the five Nicaraguan companies have their idiosyncrasies. One company, for example excludes coverage late at night, or in the early morning hours any where there is (in their opinion) not sufficient security. Seems arbitrary, yet another company has a clause which voids coverage if there is not a certain percentage of tread on the tires. All except one company exclude damage claims when your vehicle is towing a trailer.


Driving drunk, reckless and without a license? We cover that. Any road worthy vehicle is required by laws to have the minimum third party liability coverage called civil responsibilidad. While "road worthy" is a relative term in Nicaragua the small liability policy required by law is very well written with no exclusions. In many countries of the world auto insurance coverage is totally void if the driver has violated the law, by say being drunk, driving reckless, or without a license. Not in Nicaragua, the drunk driver who smashes into you with insurance will still have his company pay out the minimum amounts of the policy. However this applies only to the minimum liability, all other auto coverages; collision, robbery, and higher liability limits are void if an accident occurs while driver is deemed intoxicated, under the influence of narcotics or in the commission of a crime.

A FEW GOOD BROKERS Your parachute may have holes in it. The old adage about insurance being like a parachute... you don't care about it much until you need to use it ... and then hopefully it deploys holds true here as well. Claim disputes and misunderstandings between insured and insurance companies do occur. First there is no legal duty on the part of the insurance local companies to make sure the policies they sell actually are issued correctly for the risk they cover. A rumored internal audit of one national company's found well over half of the policies they have "on the books" are incorrectly insured. Some common errors are made for businesses run out of a house. Structures (homes) that are used for business purposes have a higher insurance premium than regular homes. Claims loss of these on these properties can be denied. Other frequent errors occur in Granada and Leon, where you have a mixture of adobe and block construction in the same house. Often times the policies are priced on cement block portion of the structure to achieve a lower premium for the homeowner. This practice will result in claim denial as these structures are not considered properly insured by the insurance company.

Compounding the situation is the fact the agents and brokers are not as well regulated and trained as in some other countries. All brokers are required by law to have a 100,000 Cordobas ($5,892) bond for malfeasance, but it is rarely used. Although liability for errors and omissions is a known concept in Nicaragua, pursuing a legal claim against an agent or insurance company in the overburden Nicaraguan judicial system is futile. So what can you do to make sure your insurance works when you need it? Shop around for a broker not insurance. Why? Because unlike other markets, local companies use the same rates for standard risks. For example, insurance for new residential construction cost $4.50 per 1000 of insurance. A house of 132,000 will cost 594.00 plus 15% tax and a small policy fee. There are some slight differences in auto policies pricing because of the different insured values the local companies assign to the vehicles.

A good intermediary can tell you which company is best for your auto, and often times may suggest a different company for homeowner's coverage. Having an insurance broker represent you costs nothing extra, because the commission paid by the company is built into the cost of the insurance. Understanding policy conditions and wording is the key to being insured correctly. Interview or meet with different agents or brokers then choose one to represent your interest to the five Nicaraguan insurance companies. Ask questions and don't assume something is covered just because it was in another local. Even knowledgeable agent may not know the answer off the top of his head, however, a good agent will acknowledge he doesn't know and will find out.

About the Author:

Warren "Mike" Newton with 26 years in the insurance industry, advises corporate and individual clients throughout Latin America and the United States. He is a licensed attorney, graduate of Loyola University Law School, and holds a Chartered Life Underwriters (CLU) degree from The American College, Bryn Mawr PA. Mike lives in Nicaragua with his family and is owner of the insurance brokerage firm CSISA, www.nicaragua-insurance.com

Learn more about Insurance : http://www.topofbusiness.net

by Henry Bell

Obtaining online home insurance quote is the best way to select and purchase a home insurance policy. Home insurance is a paramount requirement for those people who own a house or has given his house for rent. You save pounds after pounds to invest in your homes. Therefore you should make sure that it is taken of properly. And if some damage is done to your homes, you can easily, without spending much from your pockets, rebuild it or replace the contents of your homes.

There are different types of home insurance policies:

* Building insurances: to cover the building structure of the homes including garages, sheds, fences etc.

* Home contents insurance: to cover the belongings of the house if some damage is done to them because of fire, water, etc.

* Legal protection/ liability cover: anyone can get injured in your homes. To overcome any hurdles arising out of this, you can get this cover.

All these covers can be fully understood by getting quotes from different companies. No money is spent in procuring these quotes. So without any financial constraint you can compare these quotes and get the best one for you.

To find a suitable home insurance policy, it is advisable that you obtain various quotes from different insurance companies and later on search for the home insurance policy that will fully fit in to your financial status. You can compare these home insurance quotes, how much they will cost, how much will they cover etc. Since all these come for free, you can do it without spending any money from your pockets.

Many insurance companies now have their own websites. All the information required by any customer is available on their websites. So just by sitting in front of your PC and browsing though the pages, you can acquire all the required information about your home insurance policy. These companies will provide free home insurance quotes online. What you can do is that you can compare different quotes as provided by different companies through this online method. This comparison of different home insurance quotes online is just the work of a few minutes. This online method of acquiring quotes has made the lives of all people easy and comfortable. So you cannot afford to wait any more; get a home insurance quote online and locate all by yourself a perfect home insurance policy.

About the Author:

Henry Bell is an author who can certainly identify the kind of insurance that you will need. He is proficient in the insurance world; he is an MBA(finance) from University of Oxford. Insuranceb endeavors to find the best possible deals for its customers. To find Home insurance quotes online, Home owner insurance, Van insurance, Motorcycle insurance, Holiday insurance, Pet insurance visit http://www.insuranceb.co.uk/

Learn more about Insurance : http://www.topofbusiness.net

by Andrew Bicknell

Getting a Texas home owner insurance quote is relatively easy simply because there are quite a number of insurance providers in the state. As everyone knows insurance premiums and rates can vary from state to state, along with the type of coverage's offered. This only makes sense because different areas of the country are more prone to certain types of natural disasters then others. There isn't much need for hurricane insurance in Nevada.

Shopping for a Texas home owner insurance quote comes down to making a decision as to which insurance company provides the best coverage for the price. You don't want to pay an outrageous amount but you also do not want to pay to little and not have the necessary amount of coverage in case of an emergency. Here are four points to keep in mind when it comes to purchasing home owners insurance in Texas.

1. Monthly Premium - No matter where you live a monthly insurance payment is an expense you have to fit into your monthly budget. It can take a good portion out of your paycheck so it is important to get the best deal possible. Make sure to fully review any policy before you make a final decision to be sure that it covers your most valuable asset, your home, adequately. Also look for discounts and many insurance companies offer these for their customers. One of the more popular discounts is a combination Texas home owner and automobile policy.

2. Insurance Company Longevity - Be sure to check the history of the insurance company you are dealing with. Many fly-by-night operations pop up now and again with their only motivation being getting a hold of your hard earned money. If the deal seems too good to be true exercise caution before signing the policy.

3. Customer Satisfaction - Getting a good deal is only half the story when it comes to home insurance. The other half is the customer service side of the equation. When researching the different providers be sure to check with the better business bureau to see how their customer service is rated. Do they pay their claims in a timely manner with little hassle or do they have a reputation of making their customers wait an inordinately long time.

4. Comfort Level - Are you comfortable with the way you have been treated during the insurance quote process. The sales people should be genuinely helpful and willing to answer all your questions. You should get the feeling that if and when you make a claim they will be there to help and assist you in a timely manner.

When receiving a Texas home owner insurance quote keep these things in mind and you should come out with a good policy at a good price that protects your home from all forms of natural and man made disasters.

About the Author:

To find our more about getting a Texas home owner insurance quote please visit the website Home Insurance Quotes by Clicking Here.

Learn more about Insurance : http://www.topofbusiness.net

by Clint Jhonson

There is a stringent competition on the insurance market and various companies are using their best resources in order to attract interested customers. The truth is that many people are confused when it comes to picking out an insurance policy suitable to their needs and preferences.

A proper research is required to find affordable insurance policies. The Internet is one of the best places to compare auto insurance quotes and various types of coverage. Locating a reliable website is important as there are a lot of concepts to grasp about the subject of auto insurance.

The websites that present the possibility to compare auto insurance also provide a lot of other information including the necessary requirements for the policy. One should always know that the driving record can severely affect the auto insurance policy. Breaking traffic rules and being involved in any kind of accident can only have serious consequences resulting in the difficulty to purchase cheap insurance policies.

Before you start to compare auto insurance quotes, you should make a list of all the deciding factors. Be sincere and do not let anything out. Every insurance company takes into consideration the age of the driver, the driving record and the car driven. The mileage is an important factor and so is the city the car is driven in.

When you think about purchasing an auto insurance policy, you ought to think first about what you are looking to obtain with it. If you want just the basic stuff, then it is easy to compare auto insurance plans and pick out a policy. On the other hand, if you are in the market for full services the best thing to do is to spend some time researching and checking out diverse websites.

Many people enjoy the ability to compare auto insurance quotes online. They use the Internet to shop for auto insurance policies, see all there is to know about the risk factors and services offered. The price is also significant as a lot of people are looking for affordable policies. Still, it is crucial to keep in mind that the price is just one factor and should not be the main thing you should be looking into.

Lately, home insurance policies are purchased on a high scale. People who travel a lot prefer the option to go online and compare home insurance quotes before making a final decision. Being away from home most of the time they feel the natural instinct to protect their home and personal belongings from various elements. As weather conditions are more and more unpredictable, a lot of people choose home insurance in order to protect their home from wind, hail, storms and snow damage.

Aside from people who travel, there are a lot of other people choosing to use the Internet in order to compare home insurance policies and take the best decision. They know how important is to have a good insurance policy just in case. The future is not ours to see, a famous song used to say. That is the truth. We should always be prepared for natural disasters, vandalism and earthquakes. And one of the best ways to do that is to purchase a home insurance policy.

The opportunity to compare home insurance policies is being employed by people searching for inexpensive home insurance policies. There are diverse types of coverage depending on the person's necessities. The limited coverage includes protection for theft, fire, lightning and explosion. The next option is for a coverage offering security for water damage, falling objects and smoke. Some of the most common policies are for landslides, weather elements and vandalism.

You have to take some serious time and compare home insurance quotes. This is the only way to choose the best policy for you and benefit from its advantages. You have to figure out if the basic insurance is enough for you or if you will require additional options. Use the Internet and specialized websites; you will discover how easy it is to find the right insurance policy for you.

About the Author:

Our mission is to provide you with various insurance quotes. We can help you compare auto insurance policies and not only. Keep in mind that in order to obtain the best policy you need to compare home insurance quotes. Please feel free to utilize our website and ask for future references if you are unclear on certain terms.

Learn more about Insurance : http://www.topofbusiness.net

by Alan Hope

Home buildings & contents insurance is offered by numerous insurance companies and can be arranged through various outlets such as direct with the insurance company, on the internet or through an insurance broker. As the cost of providing such cover varies between insurance companies it is worth getting a number of insurance quotes.

BUILDINGS INSURANCE

Buildings insurance covers damage to your home including your patio. walls and drive caused by such things as fire, subsidence, theft, storm and flood.

In the event of you needing to move out of your home until the repairs are completed insurance cover is provided for hotel accommodation.

Damage due to burst pipes is covered within a home buildings & contents insurance policy.

Surveyors, architects and legal fees are insured following damage to your home.

Your garage and garden shed are covered.

Permanent fittings such as kitchen units, wardrobes in the bedrooms and bathroom fixtures are insured by your home buildings insurance policy.

CONTENTS INSURANCE

Contents insurance covers such things as theft of jewellery, paintings, tv, computer and other personal belongings in the home and outbuildings.

In the event of a fire or flood in the home your contents, such as your furniture and floor coverings, are insured should they be damaged usually on a new for old basis.

It is pleasing to note that your home contents insurance policy provides cover in the event of vandalism.

If you include accidental damage cover your contents are insured should you, for example, spill a tin of paint on your carpet or your furnishings.

Contents in the garden and the theft of monies from your home are covered by your home contents insurance policy.

If you include personal belongings insurance in your policy then, should you damage or have your camera stolen whilst it is away from your home, the policy will pay out.

The contents in your freezer are covered.

A home buildings & contents insurance policy has other options such as cover for pedal cycles and legal protection insurance for your family.

You must study the policy conditions for the home buildings & contents insurance policy as there are a number of exclusions, excesses and limits on the amount of cover provided for certain items.

Premiums are usually payable by direct debit either on a monthly or annual basis-if you pay monthly then a number of insurance companies who provide home buildings & contents insurance charge more than if you pay annually.

About the Author:

Alan Hope runs a lifestyle management and concierge service business for both UK and Overseas clients.
Visit one of his websites at http://www.insuranceplan.org.uk/

Learn more about Insurance : http://www.topofbusiness.net

by Dalvin Rumsey

In order to protect themselves from possible claims from other persons, the lenders will most definitely require a home property title insurance. The main reason for this matter is the fact that otherwise, the lender would risk loosing large amounts of money. So, why not thinking ahead about the worse and trying to minimize these risks? As a general rule, the lender will require a policy from a company that seems trustworthy to it. Therefore, the new house owner can freely search for and choose the best policy on the market that meets their own personal desires and money availability. The only thing that one must consider is whether the standards of the lenders are also met by their choice.
Therefore, in order to make the best decision in what a real estate is concerned, one must always keep his eyes and ears wide open. It is crucial to find out everything there is to know about a homeowner property title insurance policy. There are many services and limitations on coverage that are provided under each type of real estate policy. You must take the time to analyze your needs, no matter the hurry of finding a home you might find yourself in. Trying to save money is never a wise thing to do in what an real estate insurance policy is concerned. A coverage purchased at a higher price may better suit your requirements.
If you are buying a house that has changed owners within the last several years, you must absolutely ask the insuring company about a reissue rate. This will surely reduce your costs. In case you are wondering what such a rate is, you must know that the reissue rates are for a transfer of property after a short time from the purchase of a property. That first transaction was already covered by home property title insurance. The risks are therefore smaller, as everything must have gone well until then. You will have less to worry about, because the risk of a claim against the title is very low. This is the main reason why the insurance companies can offer this type of rate, which is in fact a discounted price on the home insurance policy.
Nevertheless, the procedure is not the same everywhere. Sometimes the company or agent directly provides the title insurance to the homeowner. Other times the attorneys are the ones to offer a property title insurance to the owner of the home. In these cases, their services in examining and providing a title opinion usually include the insurance too.

About the Author
Visit right now to find out more about Home Property Title Insurance . PropertyKohSamui.com ofeers information on Thailand Real Estate . Thailand Real Estate information packed in one place.

Learn more about Insurance : http://www.topofbusiness.net