Rental auto insurance is actually compulsory from rent-a-car companies, whether you rent the car for short or long period. It's a fact that car rental insurance is important; otherwise, who would pay for the damages when the car meets accidents? However, the question is whether you get it the from the car rental company itself or buy it on your own. You need to have adequate coverage for car rental insurance especially if you rent the car outside your home where they have no relatives or friends. You just have to assess where you get the insurance. If you have a personal auto insurance policy, you can actually use this as you rental auto insurance if the car is rented for pleasure and not for business. You just have to talk to you insurance agent about this. If you think that your coverage in your auto insurance is inadequate, you can get additional coverage from the car rental company. This case is true if you own auto insurance for your old car, which means that it does not have comprehensive coverage. You just have to purchase this coverage for your car rental insurance. If, on the other hand, you are on business trip and need to rent a car, your company most likely has provided the coverage that you need. Other than this, you might find it necessary to get car rental insurance from the rental company when you are driving on unfamiliar place. Moreover, if you rent a car often and you don't have auto insurance, you can buy non-owner liability insurance form the car rental company. This is mostly compulsory, and you can buy this once a year. If after considering the above scenarios you need more supplemental car rental insurance coverage, you have four options to choose from. One coverage that most car rental companies offer is the collision damage waiver. This coverage relieves you from any financial obligations if the rented vehicle is damaged by collision, vandalism, and theft. Another common rental auto insurance coverage is the supplemental liability insurance. This supplements the liability coverage. Personal accident insurance is another rental auto insurance that protects you and your passengers from medical expenses brought about by possible accidents. Finally, most rent a car companies sell personal effects coverage that protects you from losses on your personal items should there be burglary or theft on the rented car.
If you are setting up to get a in a circle the world tour either for enjoyment or big business, and you are going for a long term travel trip, you should take break to make sure you think about taking out a travel insurance policy. You want your travel experience to be fastidious and unforgettable; and don't want to remember it because you had an accident or illness that drained you of all your savings! Prices for insurance can be very practical if you shop around, and will help guard you from momentous economic loss. There is no need to waste time phoning travel agents for prices. All you need to do is a little searching for online travel insurance over the internet and you'll then be able to measure up to cover and prices in the comfort of your own home or office. You can get a quick travel insurance quote at most insurance web sites if you are looking to match up to insurance costs. Do notice that when you get to the segment on the form that asks you which area you will be traveling to; take care to put in your correct area of travel. Most companies will give you a clarification of how they categories their travel destinations with a link. It is vital that your travel insurance official document reproduces the countries you are traveling to or you may not be covered. If you are traveling to a place in a group, it is smarter to buy group travel insurance or a cheap family insurance as the premium will be slightly higher than for an individual. However if all individuals buy unconnected they will wind up paying lot more than if they had bought a group cover. Most health insurance covers in the United States provide for health insurance in foreign countries also. Consequently check up whether your existing health insurance provides cover and to what extent and then buy a cheap travel insurance policy.
When you become a Life Insurance Agent they train you to sell the most advantageous product for the Insurance Company, not the Insured. Life Insurance is a business and it seems like most people forget that fact when it comes to buying insurance. Life Insurance Companies want to make money. They have to have money to make money. The more premium that comes in the front door the more Life Insurance they are approved to sell. They have to have money in there reserve in order to be allowed to accept greater risk. If a new insurance company goes into business they usually start selling whole life insurance. Most of the time they sell final expense policies or policies that have a low amount of risk to the company. As their cash accumulates they will offer greater face values and typically lower the rates. They start off issuing $10000 whole life policies to senior and older adults. They do this because the premiums are greater and they can accumulate cash fast with a low amount of risk. A senior age 65 will pay $1,000 per year for a $10,000 policy. If the person dies, they will pay out very little to what they receive in premium. 100 new policies can generate $100,000 in cash coming into the company. 1000 new policies will generate $1,000,000 in revenue. Think about this, they bring in $1,000,000 and the most they will have to pay out is $10,000. This is a great business opportunity. The folks who buy the policies are typically low income or not very sophisticated. They may even use celebrities to promote the company so people will feel more comfortable buying from the company. This process grows and expands as the capital grows and expands. As the cash grows the rates do eventually drop, they will send agents letters saying we have dropped our rates 10% or now we can offer $25,000 policies. This continues over time until the company has billions of dollars in assets and then they can expand into the term market. It is unfortunate that a company can't just jump into the term market, but the risk is too high. They collect a very small amount of premium and take on a great amount of risk. I pay $19 per month for a 500,000 Term policy with West Coast Life. A small company can't cover that risk, unless they share the risk with some very large companies. This is usually the case with term products. West Coast Life probably does not take all the risk on my policy. They have many companies that share the risk with them. Here is the final point I'll make on whole life. Most people do not know that the entire first year premium is paid to the agent. I started telling people how much I made on there policy years ago. They were shocked when they found out. If they spent $1000 during the first year, I made $1000 the first year. During the second year the insurance company makes money on the and finally somewhere near the end of year 3 does the cash value start to slowly build up. This cash value is the main reason people say they purchase the policy. Most agents sell the person on the cash building up in the policy. Not much cash builds up the first year, because it was paid to the agent. There usually is a trailer that is paid out to the agent for the rest of the life of the policy. He might make 10% for the entire time you have the policy. This is a great deal for him. I know, I have people who took out policies 6 years ago and I am still getting paid. Don't make you insurance agent rich. Just cover your risk. You probably do need Life Insurance, do like me and get a cheap term policy from a big insurance company. As far as investing is concerned, put the money in the bank, not in a policy. You could not force me to buy a whole life policy.
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