Use the "GET A QUOTE" link to view additional information and request a free online quote for international student health insurance plans that provide medical coverage while you live and attend school abroad. These plans offer an affordable international student health insurance solution with coverage designed specifically to meet the needs of international students and scholars.
Use the "GET A QUOTE" link to view additional information and request a free online quote for international student health insurance plans that provide medical coverage while you live and attend school abroad. These plans offer an affordable international student health insurance solution with coverage designed specifically to meet the needs of international students and scholars.
International Student Health Insurance
Savvy consumers know it pays to do the legwork and shop around for car insurance. Considering auto insurance prices for a six-month policy can vary greatly between companies, why not take the time to compare rates for several companies? To help you in your quest for car insurance, we've compiled a few tips that can help you save money and make the right choices for your situation.
Before you get started, review your auto insurance coverages and keep your auto policy on hand to make fair comparisons to your current coverage. Then start shopping. Visit insurance Web sites and insurance agents/brokers and get quotes. Following are a few more shopping tips.
Learn The Auto Insurance Lingo
Do you know whether or not you need PIP coverage? Can you explain BI or PD coverage? Before you buy, learn the basic auto insurance lingo — it can help you make coverage decisions that are right for you. Visit our insurance definitions section and expand your knowledge now!
Stay with a Leader
Visit A.M. Best, Moody's Investor Service, and Standard & Poor's for information on the financial strength of various car insurance companies and what benefits and features they offer.
Enhance Your Car Insurance Experience
For 24/7 customer and claims service and the ability to manage your auto insurance policy and pay your bills online, you need a company that can do more than simply provide a car insurance quote on its Web site. Visit progressive.com to see how much online control and access you have with Progressive.
The United States is made up of millions of small companies. These companies need specifically designed plans of insurance for small businesses that are affordable, practical and adequate. There are different coverage amounts and options for coverage with insurance for small business policies. "And that you study to be quiet, and to do your own business, and to work with your own hands, as we commanded you." (1 Thessalonians 4:11) Property policies may include coverage for office buildings and attached structures or separate outbuildings that a commercial ventures owns. Also included in the coverage could be structures such as fences, signs, bridges or canopies. The plan for coverage may also protect any inventory that is either stored on site or in transit.
Machinery and company vehicles can also be covered on the policy for modest sized companies as well as cash and other valuable securities. The list goes on of items that can be covered by insurance for small business owners. Anything from security systems to intellectual property like patents and trademarks can also be added to the policy for insurance for small businesses. Protection against perils can also be added to coverage for many companies. These include, but are not limited to, fire, flood, lightning damage, earthquakes, sinkholes, and vandalism.
Liability coverage is a broad category of policies available for companies. Liability is essential in protecting any company from being sued by another party. Coverage includes general liability, errors and omissions, bodily injury or property damage caused by an employee or commercial vehicle liability. Insurance for small business should be purchased according to the business's need and in accordance to their assets. Without adequate coverage, the company could fail as a result of being sued or from losses resulting from damages to the structure and contents of the business
1-I have liability insurance. If I lend my car out to a friend, will my insurance pay in case of an accident?
Asked by Pikaia
Yes. However, does he have regular access to your car? If he borrows it more than once a month, or more than ten times a year, you should add him as an operator. Also, if he cracks it up, it's great that the other guy is covered, but . . .can you afford to buy a new car? Because you won't have any coverage for YOUR car.
Answered by mbrcatz
2-New insurance and ongoing treatments of old injury? Which insurance applies?
Asked by Dan T
Its up to the old insurance
Answered by heatedwire...
3-Can an employer cancel your insurance without telling you that it has been cancelled?
Asked by screwed
Well, the problem is, this is a PARTNERSHIP. If this was a corporation, you can certainly sue the corporation, and you'd probably win. You'll probably get a judgement against them. If it's legally a PARTNERSHIP, and your husband is a partner, well, he'd be suing himself. Also, if this was an individual health policy that she was paying, and NOT a group policy, she has no liability - only if it was a GROUP policy. So there's not enough information here . . .
Answered by mbrcatz
4-Health Insurance For Part-Time Employees?
Asked by kelly j
I understand your frustration with finding cost-effective insurance that will cover pre-existing conditions. You have several options. You can have your husband ask his employer to add your family on to the group plan. He will be paying for the plan completely out of his paycheck, with no help from the employer. However, if he is on GROUP health, there are generally less hang-ups about pre-existing conditions with the insurance company, and the rates can be cheaper. The other option is - don't disclose everything!! Please, please see my site, http://www.health-insurance-low-cost.net, to learn how to navigate these treacherous waters, especially the page on "Medical History". Basically, you need to make decisions on how you will USE your insurance from now on, and decisions about disclosure, BEFORE you ever talk to an insurance company. When an insurance company asks you about pre-existing conditions, they are not so much wanting to know about your past, but trying to figure out what expenses they will be paying for in the future. You need to make decisions on how you will be using the insurance, then reflect that back to the insurance company. I know your frustration, I've lived it, and that's the whole reason I created my site. You CAN find a good policy if you do your homework (and yes, Blue Cross is too expensive, I've used them and dropped them). Best wishes!
But one thing most can't do without is car insurance. Each of the nation's 50 states has laws that require drivers purchase liability insurance or provide enough "proof of financial responsibility" to cover a claim in case of an accident.
Premiums are dropping; the average in May was at its lowest point in a year at $1,871 per car, down from the national average of $1,982 in October, according to RateWatch, a Web site that tracks annual average insurance rates. But they continue, for most, to be a major outlay. Still, consumers worried about the bottom line have options.
The 185-horsepower, 2009 Hyundai Santa Fe costs an average of $832 a year to insure, the lowest of a list of just under 300 2009 models surveyed. The Saturn Vue costs an average of $911 a year to insure, and a Kia Sedona can be covered for an annual cost of $857.
Owners of luxury autos such as the BMW M5, the Mercedes-Benz G-Class and the Porsche 911 pay for that kind of prestige -- $2,020, $2,088 and $1,819, respectively. But those who drive the $80,790 Nissan GT-R, the 2009 Motor Trend Car of the Year, pay an average $2,533 a year. The sports car's super-charged 3.8-liter, twin-turbocharged 24-valve V6 engine helped it to the top of the list.
Behind the Numbers
Our numbers come from Insure.com, an online information clearinghouse for consumers. The company calculated nationwide average car insurance premiums for almost 300 2009 model-year vehicles. Averages are based on a 40-year-old male driver who commutes 12 miles to work. This driver has policy limits of $100,000 for injury liability for one person; $300,000 for all injuries and $50,000 for property damage in an accident; and a $500 deductible on collision and comprehensive. This policy also includes uninsured motorist coverage. Rates were averaged across multiple ZIP codes and insurance companies.
Of course, a car's value will jack up a driver's outlay, as will the driving record of the person behind the wheel, says Jack Nerad, executive editorial director and market analyst for Kelley Blue Book.
Other factors can play a part too, such as potential loss. For example, the Hummer H2 was the eighth-most stolen car in America, according to the Insurance Institute for Highway Safety, which determined its list by claims per 1,000 divided by average loss payment per claim; it is also eighth-most expensive vehicle to insure on our list.
A consumer's ability to compare is another factor. Shoppers may be most familiar with big companies with representatives located nationwide. Comparing the rates at these brand names with those found online and at independent agencies will yield the best deals. Make sure to compare limits and features side by side.
Driver stereotypes also play a role. Expensive, high-performance autos often attract "riskier" drivers, says Nerad, and such vehicles are more expensive to fix or replace when involved in accidents. Likewise, autos like sports cars that are popular with younger drivers usually have a higher premium since younger drivers are considered riskier drivers.
Larger vehicles like SUVs and minivans are more likely to be family vehicles driven by mothers, who are historically less dangerous drivers. With lower risk comes lower loss potential, and thus a lower premium. Eight of the top 10 least expensive vehicles to insure are either minivans or SUVs.
But even those with a need for speed are likely to see premiums drop slightly. And, along with premiums, insurance rates have fallen after an increase last year of 8%. Wyoming, South Dakota, Utah and Idaho experienced the largest rate decreases in May, from 9% in Wyoming to 5.5% in Idaho.
Annuities can help eliminate one of your fundamental concerns: Outliving your savings. They offer you guaranteed lifetime income payments, which give you:Freedom to fulfill your retirement dreamsFinancial peace of mindFlexibility to use your cash however you choose
An annuity is an insurance plan you invest in. Your money grows tax deferred until you receive regular payments.
Unique among insurance products, annuities offer you:Guaranteed lifetime income payments that you can't outliveYour money grows tax deferred, which minimizes the taxes you have to pay when you start receiving paymentsFlexible payout options that can meet your financial needs
Determine Your Need
Who needs annuities and what are some of the most common uses of annuities? Factors to consider are your age, your retirement goals and the overall mix of your financial portfolio.
In addition to providing death benefits so your loved ones can carry on financially without you, certain types of life insurance can build cash value to secure your own financial future. Life insurance benefits help:Satisfy final expensesReplace income after a breadwinner's death Send children to collegePay off a mortgage or business loanBuild financial security.
Determine Your Need
How do you know if you need life insurance? And how much life insurance is enough? Get answers to these important questions.
Scenario: Your friend just told you how excited she is to finally be getting her auto insurance at a cheap rate, but doesn’t tell you how much she’s paying. You grimace and wish it was you getting the deal. You quickly change the subject to avoid anger.
Truth #1: This friend hasn’t come clean with everything she has put into finding this cheap rate, and there are many possible explanations as to why. The first aspect to focus on is, did she compare her new found rate with what other companies offer? If not, there’s a good chance she’s not getting the lowest rate possible. Completing a thorough comparison of local companies will ensure you aren’t missing out on cheaper auto insurance. Using our comparison tool, you can compare at least four local companies’ prices to each other.
Truth #2: What is your friend’s driving record like? It is possible that she has been given a low rate as a reward due to good driving. Even receiving just one traffic violation ticket will cause a driver’s insurance rate to go up, and causing an accident will cause an even higher rate. Perhaps her record has fewer errors than your record. How many tickets and accidents have you had in the past year or two? A spotless (or close to it) driving history indicates to the insurer the driver is a safe one and has a low risk of ever needing to file a claim. The insurer will give this safe driver a cheaper insurance rate.
Truth #3: The personal status of your friend could also play a factor. Is she under 25 years of age or older? Are you male or female? Is she married? As random as these may seem, they play a large role in paying a low price to insure a vehicle. Young drivers will always pay a high price for insurance, because they typically file more claims than older drivers. Around the age of 25 years is when the insurance companies start to lighten up on pricing. And, it’s true that males will pay more for their insurance than females. Males, especially younger males, statistically are involved in more reckless behavior than their female peers. Finally, married drivers pay less for insurance than single people do. They’re more cautious with or without their spouse in the vehicle as they drive.
Truth #4: Are you and your friend neighbors? If so, then you will have that same thing going for you. If you are not neighbors and live in another town, there is a good chance that this will affect your ability to find a cheap rate. Insurance companies use your residential dwellings as part of their process to determine your rate. Living in a town or city with high crime will only get you high rates, and if your friend lives in a low crime area, then you can be sure that this attributed to her low rate.
Truth #5: What kind of car does your friend drive in comparison to you? And how often does she drive it? Your vehicle information plays another role in the ability to get cheap insurance. An expensive car will be more expensive to insure, while a modest car may not be quite so much. This is because a luxury car also costs more for the insurance company to repair or replace. Cars with safety features will be qualified for discounts, compared to cars that are too old and weren’t equipped with the latest safety features.
The second part to this truth is the number of miles put on the car during the calendar year. Think about the relationship between traveling a high number of miles and accidents. The more a driver is on the road, the higher the chances of being involved in traffic incidents. Therefore, it costs the driver less to insure a vehicle that doesn’t drive very often.
Truth #6: How much coverage did she purchase? Purchasing only the state minimum requirements will definitely get you the cheapest rates, but it may not be the coverage you desire. Your friend may have only purchased this minimal amount while you are carrying full coverage. Cheaper insurance in terms of how much coverage is purchased may backfire if there is ever a major accident. Usually minimal coverage will not cover the expenses involved in a major accident, especially if you are at fault. There are medical bills and property repairs (possibly of both parties) that would need to be taken care of. Some states only require drivers to purchase $10,000 of property damage, but the total cash value of some of the cars on the road today are far more than that amount. However, the final decision of coverage purchased is decided by the policyholder, usually according to their budget.
Don’t get in the habit of comparing your car insurance policy to someone else’s policy, especially when all of these factors between the two policyholders are different. The only comparing that should be done is by insurer to insurer for the policy you want to purchase. Who offers the lowest price for the coverage YOU want? Check out our comparison tool on our homepage or at the top of almost any page on our site by entering in your local zip code. We pride ourselves on our ability to get any driver the cheapest car insurance in town.
At the time of purchasing, you can experience the cost is much higher that you are paying for your health cover. To avoid this situation, you must look for the ways to find the affordable health insurance coverage. It can be confusing, but some statistics can be very helpful for this task.
Online health insurance
is a best source to find the low cost health insurance for individual, family and group. The service is absolute free, fast and convenient in all way. If you are here, you can consider your affordable health insurance is a just few mouse clicking away from you.
On website, there is a work, you have to fill the simple form, it will take few minutes. And immediate you will view quotes from the top health insurance companies
offering health care product. Most of health plans vary from state to state in the terms of coverage and price. You can get the information about health insurance companies
and products offered in your state.
Paying premium annually can make a difference for your health insurance cost. Definitely, you will pay lower than regular premiums.
Another way, if you are able to get group health insurance policy you should take that advantage. Group health insurance is always better compared to individual health insurance for the rates and benefits.
Insurance companies are facing the problem to provide quality coverage against the increasing medical care and hospitalization expenses. This is practical reason to consider, health insurance policies are costlier. Increasing competition in the industry made huge change. Now, the companies are developing policies to expand health coverage in affordable rates.
“Insuring more or saving more” you have to balance the equation according to your financial situation and needs for health care.
rental car damage
Using International Travel Insurance to Help Plan for the Unexpected
Planning a great trip starts with planning for the unexpected and the best way to cover the unexpected is by purchasing additional insurance when you travel. The first step in doing this is to gather up all the current insurance you have such as home, auto, health, life, personal property, dental, and umbrella policies. Next, check to see what travel health insurance and/or international travel insurance coverages you have on these policies. Some homeowners insurance policies and renter's policies will cover your personal property and liability (such as you accidentally hitting someone with your golf club) anywhere in the world, so if you already have these coverages there is no point in paying again for them.
If you find you do not have enough coverages for travel in your current insurance polices, including travel health insurance coverage, then you will want to contact your travel agent for additional international travel insurance policies or check out the online companies below:
Itâ€™s a great time for a fresh start.
Think 65 is too old to start a new career, take up new hobbies, or go back to school? Think again. After all, retirement these days may be 20 years or more. And that's too long to spend in a rocking chair. Instead, plan to spend your time doing the things you've always wanted to, but never had time for.
Your employer's 401(k) plan alone might not be enough.
Don't confuse your 401(k) with a pension. Your 401(k) does a lot of good by automating your savings, deferring your taxes until retirement (when you could be in a lower tax bracket), and giving your employers the chance to match some of your contributions if they choose to. But you can only benefit from it if it's well-funded. Take the time to see how much income you're on track to have during retirement, and whether you're currently contributing enough to your 401(k). It’s never too late to bump up the amount you put in! And because that money gets taken out of your paycheck before taxes are deducted, contributing extra won't lower your take-home pay as much as you might think.
Social Security wonâ€™t take care of you.
Chances are good that your Social Security benefits won't be enough to cover your living expenses. To get an idea of how much your monthly benefit might be, take a look at your Personal Earnings & Benefits Estimate Statement, which the Social Security Administration mails out each year. (Your monthly benefit will change over time, so check your statement each year.)
There's more than one way to go about it.
When it comes to funding your retirement, it pays to be creative. Chances are, your income will come from several sources, like savings and Social Security. You’ll also have lots of opportunities to stretch that income. For example, if you're willing to relocate to a city with a lower cost of living, your expenses could go down by 20% or more. Downsizing to a smaller home can add thousands to your potential income. Many retirees take on part-time jobs they love. Or how about putting your skills to use by tutoring or offering services to your community? The choices for earning extra income or lowering your expenses are endless.
Itâ€™s still within your reach.
No matter where your finances are at, you can always improve your retirement options.
A good rule of thumb is to recalculate your life insurance needs once a year, or more often if there's a major change in your life. Here are some examples:The Things You OwnWhether you're married or single, it's good to know that your finances will be resolved if you should die unexpectedly. That could mean paying off loans or a mortgage, and it's especially important if you have a lot of debt or want your family to keep living in your home.
Take another look at your policy when: You buy or sell a homeYou take on new debtFamily MattersYou'll want to know that your family's financial needs will be covered if you're no longer able to provide for them. You'll need the most life insurance when your kids are growing-enough to last them until they become adults and cover their college education. This is even more important if you're the main breadwinner.
Consider raising or lowering your coverage when: You get married or divorcedYou have a babyYour children become financially independentYour children finish collegeYour long-term goals changeWork LifeThe general rule for life insurance is that your policy's "death benefit" (the amount that gets paid to your beneficiaries if you die) should pay seven times your annual salary. The idea is that as your salary changes, your family's lifestyle changes to match. If you're self-employed or own a business, you might also have business-related expenses to cover.
Think about adjusting your policy when: Your salary changesYou start or sell a businessYour spouse's job changes
Most condominium associations insure the building's structure and common areas, but each unit's interior construction is the responsibility of the homeowner. If your condo is destroyed, it may be up to you to replace drywall, flooring, cabinets, lighting fixtures and so on.
Also bear in mind that if you are found liable for damage to a common area - say your adorable new puppy rips up the Berber carpet in the lobby; you may be responsible for repairs.
People are suing each other today more than ever. Verdicts amounting to hundreds of thousands of dollars are being awarded by juries across the country in increasing numbers. If you accidentally injure someone or damage their property, you could be the one being sued. Even though your underlying policies may provide substantial liability limits, it is not uncommon today for juries to award damages that exceed those limits.
You find the cell phone of your dreams, and after mulling over the cost, you're eager to buy. You walk up to the counter, fork over your debit card and begin peeling off the protective plastic--that baby is officially yours. But before you even have a chance to check out the games on your new phone, the sales guy hits you with the question every cell phone user dreads: "Would you like insurance for your phone?"
After shelling out a hundred bucks for a new phone, it may seem silly not pay a few dollars per month to insure it. But is cell phone insurance really worth it?
Consumers Reports doesn't think so, and a number of consumer advocate groups agree. And here's why.
It isn't uncommon for a cell phone insurance deductible to top $50 (yes, most cell phone insurance policies carry a deductible), and though companies claim the replacement phone will be exactly the same or similar to the damaged phone, several companies provide replacements that are "refurbished"--a dirty little euphemism for a far less flattering word: used.
Add to that the high cost and cell phone insurance becomes an even worse deal. While $4.99 per month may not seem like much, using it to insure a $100 phone is equal to shelling out 5% of the phone's value each month. If a consumer paid that same rate for car insurance, he would pay $1,500 per month to insure a $30,000 car--not exactly a bargain.
But cell phone insurance isn't always a rip off. Wealthy business executive types with high-end PDAs and Blackberrys worth $400 or $500 would be foolish not to protect their gadgets with insurance. They could easily lose it while house hunting in Beverly Hills, drop it in the pool at the Bulgari Hotel in Milan or accidentally back over it with the new Ferrari--it's a dangerous world out there. Besides, someone who has enough dough for a fancy phone can afford to fork over a little extra each month.
For the rest of us peons with run-of-the-mill cell phones, an insurance policy is a ridiculous waste of money. Why not buy insurance for tennis shoes and wrist watches, too? Read more:
One of the most frequently occurring weather events, tornadoes have struck southern, mid-western and plains states with fury this spring and summer.
Photo Credit: NOAA Photo Library
As we’ve nervously watched weather reports, listened for tornado watches and warnings, and headed to our basements or cellars when necessary, we’ve begun to realize just how vicious these storms can be.
Referred to by experts as nature’s most violent and devastating storms, tornadoes can cause fatalities and devastate neighborhoods in seconds, says the Federal Emergency Management Agency (FEMA).
Along with that kind of risk for damage and injury comes higher home insurance rates in tornado-prone areas.
Consider these facts, courtesy of FEMA:
Tornadoes may strike quickly, with little or no warning.
They’re most frequently reported east of the Rocky Mountains during the spring and summer months.
Though they may occur at any time of day, tornadoes are most likely to occur between 3 and 9 p.m.
They usually move forward at an average speed of 30 mph, but they may also remain stationary or move up to 70 mph.
A southwest to northeast movement is most common, but they have been known to move in any direction.
Peak tornado season is March through May in southern states and late spring through early summer in the north.
As an Oklahoma native growing up in a region of the country known as ‘tornado alley,’ I will never take the power of tornadoes for granted.
In fact, having lived through more tornado sightings than I can count on both hands, I can personally testify to the fear and panic that sets in when you hear that ‘train’ pass overhead—or see it tear a path through the middle of a neighborhood, taking inanimate objects, homes, pets and people right along with it.
Those are nightmares best left to your dreams…unless, of course, you’re a weather watcher!
Because of tornadoes’ destructive nature and the possibility of injury and harm they carry, we recommend you keep your eyes on the skies this summer. Meanwhile, check out Jeb’s article, “5 Fascinating Facts about Tornadoes.” Should you ever face a life-threatening tornado in the future, you might just learn something from the past that will help you survive.
And please; if tornadoes threaten your home or safety, don’t try to ride out the storm. Take those dark skies and high winds seriously, and take cover!
Since the 1990s, all-terrain vehicle (ATV) related deaths and injuries have steadily increased. Surrounding this, the safety of ATVs has been questioned, especially as it is related to children. A new study suggests that prohibiting ATV passengers and implementing helmet use may prevent the severity of head and neck related injuries in children who are victims of ATV accidents.
ATVs have been popular recreational vehicles since their inception during the 1970s. Since that time, much concern has arisen over their safety and associated risks to operators, especially children. Similarly, the sale of ATVs has markedly risen in recent years. Between 1998 and 2003, the cumulative increase reached 150 percent, with a total of 800,000 vehicles purchased in 2003. In 2004, there were 136,100 total injuries with 44,700 of those less than 16 years of age; this total represents roughly a 14 percent increase over 2003. From 1998 to 2004, there was a 101 percent increase in adult and pediatric injuries related to ATVs and with an almost 80 percent increase in the number of injuries for children under age 16. Children under 16 make up roughly 14 percent of all ATV riders, but they suffered 33 percent of all injuries and accounted for 31 percent of total fatalities between 1982 and 2004.
The state of Texas mandates that in order to operate an ATV, a child must be at least 14 years old. Despite this, 17 of the 25 ATV drivers in the study failed to meet this requirement. At the time of the study, 24 states set no minimum age limit and 19 states permitted ATVs to be operated by children younger than 12 years old. Furthermore, ATVs can be driven with no training. To make matters worse, regardless of the young age of many ATV victims, federal policy is that only when an ATV is operated on public property must a helmet be worn.
These factors seem likely contributors to the study findings including 48 percent of injuries to the central nervous system, 28 percent soft tissue injuries, and 15 percent maxillofacial fractures. So why were these children victims? First, 76 percent of them did not wear a helmet. Secondly, against manufacturer's recommendations, victims carried passengers, although ATVs are not intended for this use. ATVs can travel at over 65 miles per hour and at 100 to 500 pounds; generally weigh far more than the child operating them.
ATV-related morbidity and mortality in children remain significant public health issues that should be amenable to primary prevention. A multi-faceted approach to addressing the issue will be necessary to reduce these preventable injuries and deaths. This may involve state and federal government agencies, health providers, and ATV manufacturers. Responsibility ultimately belongs to those who choose to operate ATVs or permit their usage. Educating adults, parents, and children represents a necessary first step in promoting this responsibility.
These FAQ’s are not mean’t to cover motorised bicycles, mopeds, scooters or motorcycles. If your looking for that, you won’t find it here.
Insurance can be a complex subject, particularly around liability claims. This website can’t answer all questions or cover all circumstances. If you need more specific information please consult with a reputable insurance company or lawyer.
1. Is Bicycle Insurance expensive?
Answer: The general answer is No. (Depending on your definition of expensive!) As a guide only, expect to be quoted anywhere from $7 - $20 per month for each $1,000 in value we want to insure. This figure will vary on what part of the world you live in and what type of bicycle insurance you are looking for.
2. What types of Bicycle Insurances are available?
Answer: This is one of those “it depends” answers. You need to be clear on what type of insurance you want and need. Simply put, do you want theft coverage if your BMX gets stolen from your garage? Do you have a carbon-fibre wunderbike with a $5,000 wheel set that you race on the velodrome, and want coverage from damage? Do you race mountain bikes and need coverage from damage after jumping it 10 ft off a drop? Or are you a boy / girl racer who loves a weekly hammer session but want public liability coverage in case the bunch ride comes down in a heap?
Maybe you want to take your steed on an overseas holiday and are dreading how Airline baggage handlers might treat your pride and joy. So to sum up the ‘it depends’ answer - choices include:
Theft Insurance / Damage coverage / Public Liability Coverage / Travel Insurance / Racing & Sporting event coverage.
In many cases, your household / renters / automobile insurance can be upgraded to include coverage for bicycles. Be aware that you might need to upgrade the value of your policy to provide adequate cover and specify your bicycle on the policy to make sure your Insurer will cover you. You also need to take into account under what circumstances you are and aren’t covered. This will vary. We’ll try and cover each in more detail.
3. Why would I want or need public liability insurance?
SCENARIO: You are out riding your bike on a training run with the bunch early one morning, and just as you enter an intersection, a car runs a red light and hits the last four riders in the bunch. No-one dies, but there are broken bones, and busted high end road bikes on the pavement as a result. The driver is not insured. What happens next?
Answer: Anyone who has ridden long enough on the road has seen a cyclist knocked off their bike by a car or seen a bunch ride come down like a deck of cards at some point. It does happen.
The answer to the above scenario will vary from country to country and in different states, territories and regions. If you are involved in an accident with another cyclist, a motorist or pedestrian the consequences physically and financially can be traumatic. I have seen the above scenario happen in front of me. I’m sure many of you reading this can relate to it. Irrespective of who might be at fault, without public liability coverage you might be placing yourself in an awkward situation of courts, legal and medical expenses without any way of paying or being adequately compensated for damages and loss. Your own public liability coverage can insure not only if you are at fault but if another party who is at fault has no or inadequate coverage.
We can’t and won’t comment from a legal perspective so if you are thinking of getting public liability coverage for your bike riding, please ask your insurer what coverage they provide whilst you are riding your bike and, whether or not household and automobile insurance does actually cover you whilst riding a bike. If not seek specialist coverage for piece of mind. Refer to other sections of this website for links to where you can find insurance providers for bicycles.
4. How do I go about getting Travel Insurance for my bicycle?
Answer: If you have Household or Renters insurance, the first thing to do is check your insurance policy to see whether or not you are covered you whilst travelling with certain items. In this case your bicycle. If so, make sure you have adequate coverage for your bike as a single item and understand if there are any exclusions you need to be aware of.
If you have specific travel insurance or plan to take it out, you need to check whether or not it will cover your bicycle also. If so, make sure your bicycle as a single item has enough coverage you need, in case it gets lost in transit, damaged or stolen etc. Investigate the policies of any Airlines or Transport operators themselves with regard to lost / damaged baggage. Any single item is likely to only be covered to a certain amount by them and, subject to being adequately labelled and appropriately packaged.
5. What about Bicycle Insurance for Theft or damage?
Apart from the specific links to insurers for bicycles listed elsewhere on our website, if you have existing household or renters insurance, this can be upgraded to include your bicycle(s) on the policy. Make sure you check whether you are covered whilst you are out riding and your bike is stolen or damaged and not just at home.
6. Insurance coverage for Bicycle Racing.
As part of your participation fee to enter many organised racing and participation rides it should generally cover public liability costs. Some will have a waiver clause and you should be aware of any waiver you sign and what it means for you.
Specialist bicycle insurance providers can cover you for racing needs. Where you live in the world will depend on what options you have available. In the first instance the best place to start is by looking up the website of your local cycling organisation or representative body. Membership to these organisations will generally include suitable insurances.
Small Business Insurances
Insurance is one of the most neglected small business responsibilities. Not having the appropriate insurance for your small business is a mistake because a disaster can shut down your company permanently, or at least wreak havoc on your assets.
The Insurance Information Institute (III) in New York City estimates that about 40 percent of small business owners have no insurance at all, because many falsely believe they can't afford coverage. The truth is a small business can't afford not to have adequate insurance. Without insurance, you're unnecessarily putting your livelihood at risk. That's also why many landlords, suppliers, and other entities you work with will probably require you to have coverage.
If you're having difficulty determining which kind of insurance your business should have, you might want to check with the following agencies:
The county or city clerk
A local chapter of your industry association
The state insurance office
Why you need a Travel Insurance?
Travel insurance covers a number of possible mishaps that can occur on the road. Peace of mind comes from knowing that if one experiences terrorism, a need for medical attention, emergency evacuation, or bankruptcy of a trip organizer, there will be recourse. Travel should be about wonder and delight, not anxiety and lost funds.
Travel insurance is much more affordable than people think, whether they buy it for one trip or for unlimited annual use. Some of the travel insurance types available include flight accident insurance, trip cancellation insurance, travel medical insurance, and even custom insurance products. Nearly every conceivable mishap can be insured against, to ensure against financial loss.
Buying your own health insurance offers the flexibility to choose plans and to carry the policy even if you move or change employers. The down side of buying your own policy is having to pay extra for the convenience. Most employee group insurance arrangements are not as easy to deal with. The concept of the association health plan offers the freedom inherent in owning your own plan with the added bonus of the savings you get with a group plan.
Association Health InsuranceMany trade associations, such as the National Association for the Self-Employed offer their members the opportunity to buy health insurance. Being a member of a trade association, whether you are currently employed or not can qualify you to buy an insurance plan. The caveat here is to know what you are getting into before you commit. There is much less regulation of these plans and they may not cover all diseases and conditions. The benefit of limiting the amount of coverage is that the price can be less. On the other hand, There is no rule in place to prevent the insurer from jacking up the rate substantially. Most association health plans are honest and above-board. You still need to examine the fine print on the contract very carefully.
Analyzing the Health Care MessEveryone who must wrestle with the health care crunch seeks to understand how we got here in the first place. The price of a health insurance policy continues to increase because people demand more and there are more people demanding it. The price goes up to accommodate for the demand for emerging new therapies, pharmaceuticals and services. The price goes up to compensate for the fact that people are living longer and developing longer-lasting, treatable chronic illnesses. This is perhaps the single most devastating factor to impact the health care system to date.
An Ounce of PreventionWe have seen the emergence of an obesity epidemic, type-2 diabetes, hypertension, and heart disease resulting from our sedentary modern lifestyle. Each one of us needs to take a long look down that road to envision where we are heading. Fast food, alcohol, aversion to exercise and cigarette smoking must be dealt with intelligently. We need to constantly remind ourselves where we will be without health insurance when all of our vices finally catch up with us.
We sure get a lot of paper these days. Seems that in this paper-LESS society, we shouldn't have quite as much paper as we do. True... we can scan it, archive it, or just throw it away. There is one piece of paper that you'll want to pay attention to -- Its your Auto Insurance Renewal Statement. You'll get these once or twice a year depending on how often your auto insurance renews. You'll probably also get one whenever you adjust your coverage or change vehicles.One of the reasons the insurance company sends these statements out to you is to give you an opportunity to pause and determine if those coverages and limits and deductibles you started with so long ago still apply to you. Things change and so should your insurance policy. Sometimes people keep up with it; sometimes they don't. By not paying attention to these renewal statements, you could be spending needless premium on coverage you no longer need or want, or you could be setting yourself for an uninsured or underinsured loss by having limits that are too low or thinking you have coverage that you really DON'T have.
Here's a few steps to help you quickly and systematically look over that statement in just a few minutes.
1. Quickly review all the basic information: Name, address, vehicle description. OK there?
2. Next take a look at the rating information. You might need a little help from your company or agent on this one. Companies apply different rating factors for different driving characteristics Thes can include how many miles you drive, your age, your years of driving experience, ticket, accidents, etc. A quick call to your company or agent and they can walk you through these in just a couple minutes.
3. Check your LIABILITY LIMITS. This is usually the first coverage listed. This is probably the most important coverage to examine. This is the coverage that stands between some accident that you may cause and everything that you own.
Individual state laws mandate different minimums. California minimums are 15/30/5. Others are listed here. This means the insurance company will pay up to $15,000 for the injuries you cause to any one person, up to $30,000 for the injuries you cause in any one accident, and up to $5,000 for any property damage you may do (the car, house, light post, whatever you happen to hit). While these limits may seem like lots of money, they can evaporate very quickly. Consider a recent client of mine who sustained injuries in an accident and spent over $14,000 before ever even leaving the emergency room.
My recommendation is to think in terms of at least 100/300/50 instead of whatever your state minimum might be. Consider more if you own a home or have appreciable assets. Cut and slice and minimize on other coverages, but this one is where you protect everything you own against the possibility of a large liability lawsuit.
4. Check your Medical Payments. This is usually listed second. It's the coverage that provides (depending on your state insurance laws) coverage for injuries to you and other pople in your vehicle. There's some overlap here with your health insurance. This can be used to pay deductibles, copayment and other portions of your medical bills that may not be covered by your health insurance.
5. Check the coverage on your vehicle -- Specifically Comprehensive and Collision coverage. Collision coverage pays for your car when you sustain damage from a collision. Comprehensive covers (almost) everything else. Decide if the annual cost of these individual coverages makes sense compared to the value of your car. Check here for a more detailed discussion of this process.
6. Don't neglect Uninsured and/or Under Insuraced Motorist Coverage. There's LOTS of uninsured drivers on the road these days. Some surveys estimate as high as 25%. That means one out of every 4 drivers on the road can be uninsured. This is the coverage that for just a few dollars a year 'constructively' gives all those drivers insurance coverage to pay you if they cause an accident with you. You should consider having limits at least equal to your liability limits (#3 above.)
7. Make sure you're receiving ALL the discounts you can get. Here's where that phone call can pay some dividends. There are many discounts available. There are discounts related to your car: Airbags, alarm system, theft tracker systems and others. There are also other discounts. One of the biggest can be the Multi-Line Discount. This is where you save even more on your auto insurance if you have other policies such as homeowners or life insurance with the same company. Also remember to check for short mileage, good student, mature driver, defensive driving class, loyalty (with the same company for a long time). Just call the company and ask them to list all of the possible discounts to see for which ones you can qualify.
This process might take you a little longer the first time you do it. I suggest you make some notes right on your renewal notice and file it for next time. Then when you get your next renewal, you can get your first one out and compare and use the notes you make to ask more questions that will either save you money or better protect your hard-earned assets.
Another advantage is that you can view your billing and policy information online without the need to go down to the insurance company. And of course, you can pay your insurance premiums via the use of your credit card. Online insurance purchase is a viable option that everyone can easily avail of.
Death, relational break, import, who I am, deep letdowns ( this is not the style I believed life would turn out! ) & nbsp; all of these spring us transformational chances why?
Because we come to recognize we hold get on autopilot with some premiss... and those premiss ever find how we understand the ego & nbsp; The WHO Americium I oppugn & nbsp;
What are some of the premiss you hold runned with over the eld that you hold come to agnize in your knowingness were really doing some of your enduring or forestallling you from seing full life? & nbsp; Perissos life ( abundant life of Bathroom10.10 )?
& nbsp; & nbsp; & nbsp; One of my large premises - map your life by licking what you are named to so work hard to continue the mapped terrain & nbsp;
& nbsp; & nbsp; & nbsp; If you obey God you will be blessed and life will be better and easier for it!
Acknowledgement of our premiss that inform how we organise our individuality aid us loosed control and dissolve the hurting coming from those premises
Obeisance takes blessing... I ca n't state you how many people I cognize that hold seen deep hurting over this issue because they came to realise after eld and eld that they were disappointed with God because this was the concealed premiss.
This locomotes a long mode in us stating us tales about ourselves to ourselves about what God and others conceive and value or not value in us.
2. & nbsp; & nbsp; & nbsp; Noetic Experiences...
Noetic comes from the Grecian word nous that cites to a subjective personal experiential rather cognition & nbsp; It is direct experience cognizing.
Not all transformative doors arepainful. & nbsp; 23 % state unpleasant. 51 % really pleasant.
These would be moments we travel beyond ordinary consciousness to religious knowingness which should be ordinary but is n't.
Moments of profound awe... the sunset representative comes to mind & nbsp;
Admiration, transcendent blissfulness, these can be portals into deep last modification that open us to a macrocosm that we maked n't cognizeexisted. & nbsp;
& nbsp; & nbsp; & nbsp; Elijah holded this unofficially of a mount & nbsp; & nbsp; & nbsp; Paul holded this on the Dimash route. & nbsp; & nbsp; & nbsp; Peter James and Toilet holded this on the Mount of Transfiguration
I believe what is especially interesting for my journeying is I holded a rattlingly deep intellectual experience bonefishing that posed me on an consciousness journeying I would hold ne'er get on otherwise, and 30 years after ( nearly to the day ) saw my matrimony unravel and my wife registering for divorcement )
Both portals of hurting and intellectual experiences hitting at the occasion of holding but left my church of 18 eld to begin into a new ministry orbits were catalytic in raising a new transformational skyline for me.
Intellectual experiences can too hap though as a portion of drawn-out pattern....
Ongoing speculation pattern & nbsp; Christ ' supplication, merely make what I see the begetter make.
What both of these experiences make is assistance us agnise we hold been sleep in a personally storied limited universe & nbsp; In other words the universe I am sleep in is much much littleer than the macrocosm I am presently getting cognisant of....my consciousness is expanding... my creation is expanding, my knowingness is expanding.
But another advantage many people don’t realize is that homeowners of houses that are well taken care of can apply for lower home insurance premiums because of the low risk factor for their homes. The house’s value also goes up, as it is better maintained, so if you plan on selling the house one day, then you can enjoy a modest profit from the price when you originally bought it.
While credit scoring is under much debate in certain areas of the country, insurance researchers have found direct correlations between poor credit scores and the likelihood of filing claims. Like it or not, low insurance rates are just one more bonus to maintaining good credit. Keep in mind, your credit score and/or your insurance score are never based upon income levels, race, etc. (For more information read about Financial Responsibility and Insurance Risk.)
The good news is, for those with poor credit- you always have the chance to turn it around. If you haven’t checked your credit report in a few months, get a copy. Make sure everything is correct and take note of your current credit score. Your credit score is often lowered if you have accounts which defaulted for non-payment and if you have high credit card balances nearing your limit. Settle any accounts left unpaid or come up with a payment plan so you can get them taken care of. Once they are paid off, request proof of settlement be sent to the three major credit bureaus. Also, make a goal to pay down any credit cards with high balances.
And since a poor credit rating can sometimes take some time to correct, take advantage of other insurance discounts in the meantime in order to save money on your premiums. For example, ask your home insurance agent about a home-auto discount, a burglar alarm discount and a smoke alarm discount.
Most car insurance companies will also lower your rate if you have not filed any claims over a specific period time or if you maintain a clean driving record
Who Does It Cover?
Overall, group insurance plans cover those in the group with the same benefits. With major insurance plans, the individuals generally get membership through payroll deductions from their work. Still, additional benefits are available to buy into. Family members are usually covered under the group, but the deductions will be higher.
Advantages to a Group Insurance Plan
Also, to try to extend your protection to your family will probably cost additional premium money under an individual plan, whereas this protection is often covered under your group policy.
Disadvantages to a Group Insurance Plan
If you are part of the group, you can only get the best rates and contract that the group gets. The chain is only as strong as its weakest link. In addition, with a group plan there may be more restrictions on the doctors you can see or the drugs you can get under the plan. With an individual plan, there will often be more flexibility in these matters.
The industry of health insurance is continuously changing. Stay educated with the up-to-date information below.
Amongst the 47 million Americans who don't have health insurance, 11 million of those are willingly uninsured, people who may not welcome Washington's efforts to make sure that all Americans have some kind of health coverage.
A public plan, privileged by Obama, would undermine competition in the health insurance market, Sen. John Cornyn says.
July 1 (Bloomberg) -- Senator Edward M. Kennedyâ€™s committee will propose creating a government-backed substitute to private insurance designed to pay for itself after getting federal start-up money.
July 3 (Bloomberg) -- Senator Edward Kennedyâ€™s health committee released a new health-care overhaul plan that lawmakers said would lead to coverage for most Americans, in part by assessing fees on companies that donâ€™t offer insurance.
WASHINGTON â€” By day, Dave Evans is a calm doctor at a small Madras family practice. He serves on the Aquatic Center board and raises two young children. But in his free time, Evans transforms into the leader of a 20,000-member group of physicians crusading for big changes in the U. S. health care system.
(ARA) - As the financial system continues to struggle, an growing figure of people are faced with the unfortunate prospect of losing their job.
President Barack Obama pitched his health change proposal Wednesday at a town hall meeting in Annandale, Va., asking the public and Congress to deliver on health care reform. The Associated Press reports that Obama put "a human face" on health care reform by hugging a cancer patient, but gave few new details on his health care reform plans.
As Senate and House committees negotiate a potential new health care system, the idea of insurance co-ops is gaining ground as an alternative to a government-run plan. The HealthPartners co-op in Minneapolis provides some insight into the ability of these plans to provide low-cost, high-quality care.
July 2 (Bloomberg) -- Senator Edward Kennedy â€™s health committee released a new health-care overhaul plan that would cover almost all Americans, in part by assessing fees on companies that donâ€™t offer insurance, and cost almost $400 billion less than an earlier proposal.
As Congress prepares to do battle over health reform, a parallel dispute is shaping up among small-business groups that are staking out opposing positions on a key element of reform proposals: whether Uncle Sam will take on a bigger role in offering insurance coverage or leave the field to the private market.
Any risk that can be quantified can potentially be insured. Specific kinds of risk that may give rise to claims are known as "perils". An insurance policy will set out in detail which perils are covered by the policy and which are not. Below are (non-exhaustive) lists of the many different types of insurance that exist. A single policy may cover risks in one or more of the categories set out below. For example, auto insurance would typically cover both property risk (covering the risk of theft or damage to the car) and liability risk (covering legal claims from causing an accident). A homeowner's insurance policy in the U.S. typically includes property insurance covering damage to the home and the owner's belongings, liability insurance covering certain legal claims against the owner, and even a small amount of coverage for medical expenses of guests who are injured on the owner's property.
Business insurance can be any kind of insurance that protects businesses against risks. Some principal subtypes of business insurance are (a) the various kinds of professional liability insurance, also called professional indemnity insurance, which are discussed below under that name; and (b) the business owner's policy (BOP), which bundles into one policy many of the kinds of coverage that a business owner needs, in a way analogous to how homeowners insurance bundles the coverages that a homeowner needs.
Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy. Auto insurance provides property, liability and medical coverage:
- Property coverage pays for damage to or theft of your car.
- Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
- Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.
An auto insurance policy comprises six kinds of coverage. Most countries require you to buy some, but not all, of these coverages. If you're financing a car, your lender may also have requirements. Most auto policies are for six months to a year.
In the United States, your insurance company should notify you by mail when it’s time to renew the policy and to pay your premium. 
Home insurance provides compensation for damage or destruction of a home from disasters. In some geographical areas, the standard insurances excludes certain types of disasters, such as flood and earthquakes, that require additional coverage. Maintenance-related problems are the homeowners' responsibility. The policy may include inventory, or this can be bought as a separate policy, especially for people who rent housing. In some countries, insurers offer a package which may include liability and legal responsibility for injuries and property damage caused by members of the household, including pets.
Health insurance policies by the National Health Service in the United Kingdom (NHS) or other publicly-funded health programs will cover the cost of medical treatments. Dental insurance, like medical insurance, is coverage for individuals to protect them against dental costs. In the U.S., dental insurance is often part of an employer's benefits package, along with health insurance.
- Disability insurance policies provide financial support in the event the policyholder is unable to work because of disabling illness or injury. It provides monthly support to help pay such obligations as mortgages and credit cards.
- Disability overhead insurance allows business owners to cover the overhead expenses of their business while they are unable to work.
- Total permanent disability insurance provides benefits when a person is permanently disabled and can no longer work in their profession, often taken as an adjunct to life insurance.
- Workers' compensation insurance replaces all or part of a worker's wages lost and accompanying medical expenses incurred because of a job-related injury.
Casualty insurance insures against accidents, not necessarily tied to any specific property.
- Crime insurance is a form of casualty insurance that covers the policyholder against losses arising from the criminal acts of third parties. For example, a company can obtain crime insurance to cover losses arising from theft or embezzlement.
- Political risk insurance is a form of casualty insurance that can be taken out by businesses with operations in countries in which there is a risk that revolution or other political conditions will result in a loss.
Life insurance provides a monetary benefit to a decedent's family or other designated beneficiary, and may specifically provide for income to an insured person's family, burial, funeral and other final expenses. Life insurance policies often allow the option of having the proceeds paid to the beneficiary either in a lump sum cash payment or an annuity.
Annuities provide a stream of payments and are generally classified as insurance because they are issued by insurance companies and regulated as insurance and require the same kinds of actuarial and investment management expertise that life insurance requires. Annuities and pensions that pay a benefit for life are sometimes regarded as insurance against the possibility that a retiree will outlive his or her financial resources. In that sense, they are the complement of life insurance and, from an underwriting perspective, are the mirror image of life insurance.
Certain life insurance contracts accumulate cash values, which may be taken by the insured if the policy is surrendered or which may be borrowed against. Some policies, such as annuities and endowment policies, are financial instruments to accumulate or liquidate wealth when it is needed.
In many countries, such as the U.S. and the UK, the tax law provides that the interest on this cash value is not taxable under certain circumstances. This leads to widespread use of life insurance as a tax-efficient method of saving as well as protection in the event of early death.
In U.S., the tax on interest income on life insurance policies and annuities is generally deferred. However, in some cases the benefit derived from tax deferral may be offset by a low return. This depends upon the insuring company, the type of policy and other variables (mortality, market return, etc.). Moreover, other income tax saving vehicles (e.g., IRAs, 401(k) plans, Roth IRAs) may be better alternatives for value accumulation.
Property insurance provides protection against risks to property, such as fire, theft or weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, inland marine insurance or boiler insurance.
- Automobile insurance, known in the UK as motor insurance, is probably the most common form of insurance and may cover both legal liability claims against the driver and loss of or damage to the insured's vehicle itself. Throughout the United States an auto insurance policy is required to legally operate a motor vehicle on public roads. In some jurisdictions, bodily injury compensation for automobile accident victims has been changed to a no-fault system, which reduces or eliminates the ability to sue for compensation but provides automatic eligibility for benefits. Credit card companies insure against damage on rented cars.
- Driving School Insurance insurance provides cover for any authorized driver whilst undergoing tuition, cover also unlike other motor policies provides cover for instructor liability where both the pupil and driving instructor are equally liable in the event of a claim.
- Aviation insurance insures against hull, spares, deductibles, hull wear and liability risks.
- Boiler insurance (also known as boiler and machinery insurance or equipment breakdown insurance) insures against accidental physical damage to equipment or machinery.
- Builder's risk insurance insures against the risk of physical loss or damage to property during construction. Builder's risk insurance is typically written on an "all risk" basis covering damage due to any cause (including the negligence of the insured) not otherwise expressly excluded.
- Crop insurance "Farmers use crop insurance to reduce or manage various risks associated with growing crops. Such risks include crop loss or damage caused by weather, hail, drought, frost damage, insects, or disease, for instance."
- Earthquake insurance is a form of property insurance that pays the policyholder in the event of an earthquake that causes damage to the property. Most ordinary homeowners insurance policies do not cover earthquake damage. Most earthquake insurance policies feature a high deductible. Rates depend on location and the probability of an earthquake, as well as the construction of the home.
- A fidelity bond is a form of casualty insurance that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees.
- Flood insurance protects against property loss due to flooding. Many insurers in the U.S. do not provide flood insurance in some portions of the country. In response to this, the federal government created the National Flood Insurance Program which serves as the insurer of last resort.
- Home insurance or homeowners' insurance: See "Property insurance".
- Landlord insurance is specifically designed for people who own properties which they rent out. Most house insurance cover in the U.K will not be valid if the property is rented out therefore landlords must take out this specialist form of home insurance.
- Marine insurance and marine cargo insurance cover the loss or damage of ships at sea or on inland waterways, and of the cargo that may be on them. When the owner of the cargo and the carrier are separate corporations, marine cargo insurance typically compensates the owner of cargo for losses sustained from fire, shipwreck, etc., but excludes losses that can be recovered from the carrier or the carrier's insurance. Many marine insurance underwriters will include "time element" coverage in such policies, which extends the indemnity to cover loss of profit and other business expenses attributable to the delay caused by a covered loss.
- Surety bond insurance is a three party insurance guaranteeing the performance of the principal.
- Terrorism insurance provides protection against any loss or damage caused by terrorist activities.
- Volcano insurance is an insurance that covers volcano damage in Hawaii.
- Windstorm insurance is an insurance covering the damage that can be caused by hurricanes and tropical cyclones.
Liability insurance is a very broad superset that covers legal claims against the insured. Many types of insurance include an aspect of liability coverage. For example, a homeowner's insurance policy will normally include liability coverage which protects the insured in the event of a claim brought by someone who slips and falls on the property; automobile insurance also includes an aspect of liability insurance that indemnifies against the harm that a crashing car can cause to others' lives, health, or property. The protection offered by a liability insurance policy is twofold: a legal defense in the event of a lawsuit commenced against the policyholder and indemnification (payment on behalf of the insured) with respect to a settlement or court verdict. Liability policies typically cover only the negligence of the insured, and will not apply to results of wilful or intentional acts by the insured.
- Directors and officers liability insurance protects an organization (usually a corporation) from costs associated with litigation resulting from mistakes made by directors and officers for which they are liable. In the industry, it is usually called "D&O" for short.
- Environmental liability insurance protects the insured from bodily injury, property damage and cleanup costs as a result of the dispersal, release or escape of pollutants.
- Errors and omissions insurance: See "Professional liability insurance" under "Liability insurance".
- Prize indemnity insurance protects the insured from giving away a large prize at a specific event. Examples would include offering prizes to contestants who can make a half-court shot at a basketball game, or a hole-in-one at a golf tournament.
- Professional liability insurance, also called professional indemnity insurance, protects insured professionals such as architectural corporation and medical practice against potential negligence claims made by their patients/clients. Professional liability insurance may take on different names depending on the profession. For example, professional liability insurance in reference to the medical profession may be called malpractice insurance. Notaries public may take out errors and omissions insurance (E&O). Other potential E&O policyholders include, for example, real estate brokers, Insurance agents, home inspectors, appraisers, and website developers.
Credit insurance repays some or all of a loan when certain things happen to the borrower such as unemployment, disability, or death.
- Mortgage insurance insures the lender against default by the borrower. Mortgage insurance is a form of credit insurance, although the name credit insurance more often is used to refer to policies that cover other kinds of debt.
- Collateral protection insurance or CPI, insures property (primarily vehicles) held as collateral for loans made by lending institutions.
- Defense Base Act Workers' compensation or DBA Insurance provides coverage for civilian workers hired by the government to perform contracts outside the U.S. and Canada. DBA is required for all U.S. citizens, U.S. residents, U.S. Green Card holders, and all employees or subcontractors hired on overseas government contracts. Depending on the country, Foreign Nationals must also be covered under DBA. This coverage typically includes expenses related to medical treatment and loss of wages, as well as disability and death benefits.
- Expatriate insurance provides individuals and organizations operating outside of their home country with protection for automobiles, property, health, liability and business pursuits.
- Financial loss insurance protects individuals and companies against various financial risks. For example, a business might purchase coverage to protect it from loss of sales if a fire in a factory prevented it from carrying out its business for a time. Insurance might also cover the failure of a creditor to pay money it owes to the insured. This type of insurance is frequently referred to as "business interruption insurance." Fidelity bonds and surety bonds are included in this category, although these products provide a benefit to a third party (the "obligee") in the event the insured party (usually referred to as the "obligor") fails to perform its obligations under a contract with the obligee.
- Kidnap and ransom insurance
- Locked funds insurance is a little-known hybrid insurance policy jointly issued by governments and banks. It is used to protect public funds from tamper by unauthorized parties. In special cases, a government may authorize its use in protecting semi-private funds which are liable to tamper. The terms of this type of insurance are usually very strict. Therefore it is used only in extreme cases where maximum security of funds is required.
- Nuclear incident insurance covers damages resulting from an incident involving radioactive materials and is generally arranged at the national level. See the Nuclear exclusion clause and for the United States the Price-Anderson Nuclear Industries Indemnity Act)
- Pet insurance insures pets against accidents and illnesses - some companies cover routine/wellness care and burial, as well.
- Pollution Insurance which consists of first-party coverage for contamination of insured property either by external or on-site sources. Coverage for liability to third parties arising from contamination of air, water, or land due to the sudden and accidental release of hazardous materials from the insured site. The policy usually covers the costs of cleanup and may include coverage for releases from underground storage tanks. Intentional acts are specifically excluded.
- Purchase insurance is aimed at providing protection on the products people purchase. Purchase insurance can cover individual purchase protection, warranties, guarantees, care plans and even mobile phone insurance. Such insurance is normally very limited in the scope of problems that are covered by the policy.
- Title insurance provides a guarantee that title to real property is vested in the purchaser and/or mortgagee, free and clear of liens or encumbrances. It is usually issued in conjunction with a search of the public records performed at the time of a real estate transaction.
- Travel insurance is an insurance cover taken by those who travel abroad, which covers certain losses such as medical expenses, loss of personal belongings, travel delay, personal liabilities, etc.
- Media Insurance is designed to cover professionals that engage in film, video and TV production.
Insurance financing vehicles
- Fraternal insurance is provided on a cooperative basis by fraternal benefit societies or other social organizations.
- No-fault insurance is a type of insurance policy (typically automobile insurance) where insureds are indemnified by their own insurer regardless of fault in the incident.
- Protected Self-Insurance is an alternative risk financing mechanism in which an organization retains the mathematically calculated cost of risk within the organization and transfers the catastrophic risk with specific and aggregate limits to an insurer so the maximum total cost of the program is known. A properly designed and underwritten Protected Self-Insurance Program reduces and stabilizes the cost of insurance and provides valuable risk management information.
- Retrospectively Rated Insurance is a method of establishing a premium on large commercial accounts. The final premium is based on the insured's actual loss experience during the policy term, sometimes subject to a minimum and maximum premium, with the final premium determined by a formula. Under this plan, the current year's premium is based partially (or wholly) on the current year's losses, although the premium adjustments may take months or years beyond the current year's expiration date. The rating formula is guaranteed in the insurance contract. Formula: retrospective premium = converted loss + basic premium × tax multiplier. Numerous variations of this formula have been developed and are in use.
- Formal self insurance is the deliberate decision to pay for otherwise insurable losses out of one's own money. This can be done on a formal basis by establishing a separate fund into which funds are deposited on a periodic basis, or by simply forgoing the purchase of available insurance and paying out-of-pocket. Self insurance is usually used to pay for high-frequency, low-severity losses. Such losses, if covered by conventional insurance, mean having to pay a premium that includes loadings for the company's general expenses, cost of putting the policy on the books, acquisition expenses, premium taxes, and contingencies. While this is true for all insurance, for small, frequent losses the transaction costs may exceed the benefit of volatility reduction that insurance otherwise affords.
- Reinsurance is a type of insurance purchased by insurance companies or self-insured employers to protect against unexpected losses. Financial reinsurance is a form of reinsurance that is primarily used for capital management rather than to transfer insurance risk.
- Social insurance can be many things to many people in many countries. But a summary of its essence is that it is a collection of insurance coverages (including components of life insurance, disability income insurance, unemployment insurance, health insurance, and others), plus retirement savings, that requires participation by all citizens. By forcing everyone in society to be a policyholder and pay premiums, it ensures that everyone can become a claimant when or if he/she needs to. Along the way this inevitably becomes related to other concepts such as the justice system and the welfare state. This is a large, complicated topic that engenders tremendous debate, which can be further studied in the following articles (and others):
- National Insurance
- Social safety net
- Social security
- Social Security debate (United States)
- Social Security (United States)
- Social welfare provision
- Stop-loss insurance provides protection against catastrophic or unpredictable losses. It is purchased by organizations who do not want to assume 100% of the liability for losses arising from the plans. Under a stop-loss policy, the insurance company becomes liable for losses that exceed certain limits called deductibles.
Closed community self-insurance
Some communities prefer to create virtual insurance amongst themselves by other means than contractual risk transfer, which assigns explicit numerical values to risk. A number of religious groups, including the Amish and some Muslim groups, depend on support provided by their communities when disasters strike. The risk presented by any given person is assumed collectively by the community who all bear the cost of rebuilding lost property and supporting people whose needs are suddenly greater after a loss of some kind. In supportive communities where others can be trusted to follow community leaders, this tacit form of insurance can work. In this manner the community can even out the extreme differences in insurability that exist among its members. Some further justification is also provided by invoking the moral hazard of explicit insurance contracts.
In the United Kingdom, The Crown (which, for practical purposes, meant the Civil service) did not insure property such as government buildings. If a government building was damaged, the cost of repair would be met from public funds because, in the long run, this was cheaper than paying insurance premiums. Since many UK government buildings have been sold to property companies, and rented back, this arrangement is now less common and may have disappeared altogether.