Tag Archives: Investment

Pros and Cons of an Estimated Car Insurance Cost

Posted on by

Although the vast majority of drivers still purchase insurance through the old-fashioned way from agents, this old trend is gradually shifting to a new method that more and more people are now buying insurance online. Most major insurance companies have created easy-to-use forms on their official websites, allowing customers to renew or purchase coverage via Internet. Potential customers are even provided with a tool/calculator to get an estimated car insurance cost. In case you are not familiar with car insurance calculator, it is a tool for you to basically predict the average amount you should pay for the coverage.
Advantages

When an insurance company provides online-buying system, customers get two immediate benefits. First, it eliminates the needs for third-party agents including captive and independent agents. While captive agents can be considered a company’s representatives, they often persuade you to purchase coverage as soon as you request for quotes. Independent agents work on your behalf, and you may have to pay for their services. Although there are multiple services provided by either agent, you can easily regard the agent as car insurance cost estimator.

Second, you have the chance to learn basic knowledge of insurance especially about what factors that affect your premium fee. An estimated car insurance cost suggested by an online calculator is determined based on your data including car model, address, annual mileage, past infractions, etc. Each of those factors helps to determine the final cost. You can change the data in the forms and see how each factor affects your premium.

Online car insurance calculator is often available from independent websites as well. This tool is free to use, and you can get multiple quotes from different companies with one-time calculation only. Every calculation usually takes less than 5 minutes, meaning you will be able to make proper comparison in no time.

Disadvantages

Free online car insurance calculator, no matter how good it is, will only give an estimated car insurance cost or approximate calculation, which is possibly different (regardless how slightly) from the actual amount you should pay. Some factors such as credit card score and possibility to be eligible for discounts are most likely excluded from the equation. Unlike captive or independent agent, the online tool does not put your own financial circumstances and other related issues into account. Such tool can indeed be a very quick car insurance quote calculator, but you still have to contact insurance companies to get detailed estimation.

Estimated car insurance premium generated by online tool cannot be as accurate as real live agent. However, it gives general idea of the amount you should pay, and it is a good thing since it leads you to be budget-minded insurance customer.

Types Of Commercial Insurance Every Business Owner Should Know About

Posted on by

Business owners have a wide variety of assets and interests that they need to protect. In order to get the most comprehensive coverage, they’ll need to consult with a reputable commercial insurance agent. Many types of coverage fall within the category of commercial insurance. Some are similar to independent offerings, such as automotive and property coverage, while other types of commercial insurance are specific to the business world. The following breaks down a few of the options available.
Property This option covers real estate and belongings. Common equipment that is included in a property plan includes computers, furniture, inventory, and other office equipment. It can protect against a variety of problems, including theft, fire, vandalism, and more.

Loss of Earning This covers lost wages in a situation in which the organization is unable to operate. For example, if a fire has caused extensive damage and the business is forced to shut its doors for weeks or even months, Loss of Earning coverage will provide protection.

Auto Vehicles that transport employees, company equipment, or products can all be covered. This includes all types of vehicles, including SUVs, cars, vans, and trucks. Employees who drive their own vehicles for work purposes should also seek non-owned auto liability coverage.

Workers Compensation This program benefits employees who are injured on the job. It replaces lost wages and provides medical benefits, and is required in all 50 states. It protects owners from being sued by injured employees.

General Liability This coverage applies if anyone claims the business, its products, or its services caused bodily injury or property damage. It is essential for both home-based business and larger organizations.

Professional Liability A professional liability package offers defense against claims of failure to deliver or improper delivery of services. This could apply to many types of businesses ranging from a hair salon to a business consultancy to a law firm. It is commonly referred to as Errors and Omission coverage.

Data Breach Data can be accessed and leaked in the form of paper files and by electronic means. Businesses that are responsible for storing sensitive personal data about its employees or customers, such as credit card numbers or social security numbers, need protection from a breach.

Life This form of commercial insurance impacts not only business owners and employees, but also their families. In the case of death, financial benefits are directed to a beneficiary. This is particularly important to protect spouses and family members from having serious financial concerns following the death of a loved one who provided financial support.