Both travel and travel-related services have come a long way in the last decade. Actual travel costs, which used to be very prohibitive, have become considerably lower, which means that more people can afford to travel to their dream destinations. In addition, travel facilities and travel-related services have also considerably improved.Documentation processes have become more efficient – including passport and visa requirements and processing, reservations and ticketing. Travel-related business such as those dealing with accommodation, dining, tours, and the like, have become more integrated and full-service. Even the travel industry, which once was limited to offering single-trip accident and life cover, has developed into a full-service industry that offers various policies to cover practically every risk a traveller might face during a trip – whether overseas or domestic. Today, a good policy covers death, personal accident, medical expenses, emergency repatriation, loss or delay of checked baggage, loss of passport, and other third-party liabilities. Types of cover now include single-trip or multi-trip, and single, group, or family policies, among others. But perhaps the most comprehensive is annual travel insurance.For many people, a yearly policy is the best option when it comes to being properly covered. It provides comprehensive, personalised coverage for various risks involved with travel for business or leisure, and, as the name suggests, it covers you for the entire year, no matter how many journeys you take. Here are some questions to ask yourself if you are considering a yearly policy.Do you travel more than once a year?If you only take one year, a single-trip policy, which covers only one trip, may be adequately suited for your needs. However, you would be missing out on lots of great experiences by limiting yourself to one trip per year! Never before has travel been so accessible. Facilities and equipment are cutting-edge, travel-related costs are at an all-time low, and many travel companies and destinations have conglomerated to create travel adventures that in past years would have been near impossible or cost a fortune. This is the perfect time to travel, and with annual travel insurance you can take as many trips as you wish and be covered for an entire year.Do you have the time (or patience) to run the same errand over and over?Modern life, while wonderful in many ways, also places a lot of demands on a person’s time and energy. Travelling is a great stress-reliever, especially when you don’t have to deal with the sometimes-tedious travel-related tasks, such as those involving paperwork and documentation. Fortunately, your travel cover does not have to be one of these tasks. With annual travel insurance, one policy covers you over multiple trips for an entire year. One trip to your agent or online transaction is all you need.Do you want to save money?There is no question: a good policy saves you money by protecting you from various travel-related risks and potential losses, such as missed flights and reservations, lost baggage, emergency repatriation, and countless other scenarios. With a yearly policy you’ll also get the added savings of paying a discounted, flat, one-time rate rather than paying multiple times for multiple trips over the course of the year.Do you want peace of mind?A hundred things can go wrong before and during a trip-it’s why every journey is an adventure. However, proper cover can relieve you of a lot of worry and protect you from myriad travel-related risks. And with annual travel insurance, you are protected for an entire year!
It is mandatory for all new car owners to get auto insurance. The Road Traffic Act stipulates that all motorists should be insured against liability and it declares driving a car without a minimum level of insurance is illegal. The violation can attract severe civil and criminal penalties. This can be easily avoided by securing a proper auto insurance cover for your vehicle as per your state’s demands. It is quite a simple process.Nowadays, there is so much dependence on vehicles that the best thing to do is to follow all stipulated guidelines religiously. Getting the right auto insurance cover is one of them.What Is Auto Insurance All About?Auto Insurance simply means a contract or an agreement between an auto owner and an insurance company. Under this contract, premium is paid to the insurer and in return he pays for any car related losses as detailed in the policy.Key Legal RequirementsIn order to get an insurance cover for your vehicle, you would need to fulfill the following requirements. It’s advisable to find out the requirements in your respective state since these may vary. However, these are the broad requirements for auto insurance.Firstly, you should be in possession of a valid driver’s license before you go in for registration or insuring your car. For your license you would need to approach your local DMV (Department of Motor Vehicles). This is the primary requirement.You will also need to have an auto title. It is a legal certificate of ownership that confirms that you own the car. Most of the paperwork is already done when you purchase a gar from a dealer. Licensed dealers are needed to transfer the title of the car in your name. The title will list the owner’s name, address, make of the car, model and year of the car and the date of sale. This should be retained by you.Next, you need to get your car registered. You can apply for registration at the local DMV. The requirements may vary from state to state. In order to register your vehicle, you will require a valid driving license, signed certificate of title for the car, address of residence and proof of your insurance.The law also stipulates that that a vehicle more than three years old should have a valid MOT certificate. It is not possible to tax a vehicle without MOT and certificate of insurance and driving without them is an offence.It is also vital to keep the insurance company informed in case of any vehicle modifications and fixed penalties. Failing to do so is an offense and may affect any claim that you make.You are also legally obliged to take the basic level of auto insurance that will cover you against third party claims. Since the legal requirements for auto insurance vary from state to state, you will need to clarify the level of cover that you require while taking auto insurance. Only insuring the legal minimum isn’t necessarily the best choice to make.As a proof of your auto insurance, the company issues you the following documents – A Certificate of insurance which will also be required for buying your road tax; A cover note that will act as a temporary policy and certificate until your new insurance policy has been set up; and Policy documents which gives a detail of all that you are covered for. Read the documents carefully to understand your rights and obligations under the policy.Insurance companies have set up claim help lines and accident emergency recovery hotlines for ensuring a smoother process. In case of any ambiguity in terms of insurance or legal requirements, get your doubts cleared by talking to the company.
It is a common believe that auto insurance fraud is not a concern for the customers and automobile insurance clients. You are wrong. You are paying higher automobile insurance premiums because of the auto insurance fraud. One is always looking for low auto insurance rate from the insurance companies, without having a peek as to the problems faced by the auto insurance companies.As per the insurance industry the cost of insurance fraud claims is $30 billion annually which includes all frauds for property and casualty insurance business. The auto insurance frauds form the majority chunk of the losses which accumulate because of the auto insurance fraud. The insurance companies’ base their insurance premium on the expenses incurred and claims is a major part of the expense. Hence the burden of this fraud is passed on ultimately to the customer. The automobile insurance premium is hiked each year and as a customer you will have to shop for low auto insurance premium.Recently, a Virginia woman Teresa R. Gallop was sentenced in federal court Monday on 5th October 2009. The 41-year-old had 60 prior felony convictions; including one for manslaughter .Gallop was convicted earlier this year of staging three car crashes, using children as young as 4 pretending to be victims. Gallop collected about $50,000 in insurance payments.Automobile insurance fraud are cleverly crafted and a game played by unethical group of professionals like the doctor, lawyer and the claimant trying to create a situation, wherein the injury is exaggerated for making money. The intent of the fraud is not about getting the auto repaired but it has been found that more frauds involve pretended injuries or disabilities. These accidents are cleverly staged at places which are not crowded and the targets are usually new and expensive car drivers. All of a sudden the vehicle in front of you would pull to a halt and you get trapped in a rear end collision. There are countless ways of staging fraud accidents and it always takes sometime before each case can be interrelated and the person staging the fraud is caught. Each of us needs to be aware to save yourself and also national wealth.As a customer and prudent person you need to avoid becoming a victim of any fraud or be drawn into any action on the part of others for creating situations and ploys of staging accidents for making quick cash from insurance. This are created accidents for own benefit. Here are some ways you can avoid frauds from occurring:- When you are driving the car always drive defensively. There are some drivers who want to intentionally create an accident so as to claim car repairs or personal injury.- If by chance you get into an accident make sure that you have the names of all the occupants in the car and details of the driver. It would also be advisable to collect the names of witness around the sconce.- Be sure to report any accident to your insurance company and also the police so that investigation and follow up is done immediately. This would reduce the chances of fraud since everyone wants to avoid problems with authority.- In case you suspect a fraud, you can report it to the insurance company or agent so that they can take action if required. You can also send them an e-mail or report it to the customer care department of the insurance regulators.- Be aware of all the various ways in which car insurance fraud can occur. Insurance blogs, insurance magazines and insurance education institutes are good sources for information.Fraud management is now a subject taught to the insurance professionals to curtail the frauds. It is common knowledge that in any field fraud makes everyone pay dearly. Take the steps illustrated for getting rid of the high unnecessary insurance costs to get low auto insurance rates and pay a low automobile premium all the time. Ensure that auto insurance frauds are curtailed and you will get low auto insurance rates.