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Five Tips Choosing Insurance

insuranceThe foot is a valuable asset for ball players. It was so valuable, David Beckham is willing to insure his feet worth of USD70 million. The choice is quite appropriate because the limb became a source of income that supports him and his family. How about you?

Here is a tip for you to choose the right insurance to suit your needs:

1. So many types of insurance offered by insurance agents. But keep in mind, not all insurance products you need to have. Everyone had different financial conditions so that the need for any insurance product is not necessarily the same. So, don’t buy a home. Learn about the product first.

2. Not just choose the type of insurance only to note, but also chose the policy of each insurance product. Please read the policy carefully so that clause really understood costs and protection that will be retrieved. Often the error occurs, the protection of the selected policy turns out to be less meet the need, or otherwise, exceed the needs so futile.

3. For the same type of insurance though, the value of the premiums was offered between an insurance company with a different, or more commonly known by the term company policy. Please choose which offer value and service coverage for the par value of the premiums but quite competitive.

4. Note the main causes of the occurrence of the risk. Insurance companies will simply replace a claim for losses caused by factors that have been a deal. For example, not all types of treatment of diseases borne by health insurance because there are a few exceptions.

5. Observe the insurance company track record, whether it has been registered in the Ministry of finance or not (check at www.bapepam.go.id). That’s the strategy to detect quality his company does well enough so that it is able to serve the customer’s claim. In many cases the customer feel disappointed because it is difficult to get the claims become due. Beware, the inadequate service such as insurance agents, who do not understand or cannot explain the products offered were frequently occurring, which result in harming the client.

Why Many Californians Forgo Earthquake Coverage

earthquake1nsuranceBased on the history and likelihood of earthquakes in the West, insurance for California homes should be a first consideration for policy holders. Recent information from the California Department of Insurance reveals that only 12 percent of Californians buy earthquake insurance. It has to be purchased separately from a conventional home insurance policy, which typically does not cover earthquakes.

Insurance industry experts believe most people forego earthquake insurance because it has a far more expensive monthly premium than a regular home policy. In California, an earthquake policy could cost almost $700 per year. In addition to the premiums, there is also a high deductible, sometimes as much as 15 percent of the home value. If the average home cost is $400,000, the home owner will have to pay $60,000 as a deductible. Some homeowners simply cannot afford to pay an expensive out-of-pocket cost if their homes are damaged in an earthquake.

One thing that has helped some Californians find some balance in policy prices has been finding the right insurance company. Many offer one price based on the value of the home and the location. The most effective companies, however, are able to offer a range of policy prices for a proper comparison.

Securing a home with high deductible earthquake insurance is often better than having no coverage at all. Owning a home in California without coverage puts a huge asset at risk. Home owners who forego the coverage are sometimes left having to start all over when an earthquake hits.