AUTO INSURANCE TIPS For Empty Nesters

It's well-known that children drive up the cost of auto insurance. Adjusting your coverage will make it cheaper.

1. Ask for an age discount.
Combined with a safe driving record, you can get better rates for being an older driver. "As you become a more mature driver, there are more discounts available," says Roger Sevigny, secretary and treasurer for the National Association of Insurance Commissioners and the New Hampshire insurance commissioner. The magic period: between 55 and 70, he says.

2. Tell your agent you've retired (or are doing some telecommuting.)
When you're not racking up commuter miles every day, your rates will likely go down, Sevigny says. The number of miles you're driving can have "an immediate impact" on your rates, he says.

3. Adjust your auto coverage.
If the kids have left for good, take them off the policy. If they are simply away at college, ask about a distant-student credit, says Jack Hungelmann, an insurance consultant and author of "Insurance for Dummies." Usually, it applies if your child is a full-time student, has gone at least a certain distance to college and hasn't taken one of the family cars to campus. And it can give you a nice break on the premiums.

source: articles.moneycentral.msn.com

Top 5 insurance tips

1. Beware of payment protection insurance
2. Make sure your gadgets are insured
3. Review your critical illness cover
4. Don't go ski-ing without the right cover
5. Consider car breakdown cover

soure: www.thisismoney.co.uk

SAVINGS TIPS FOR WOMEN

Women face different financial challenges than men do. They still only make about 76 cents for every dollar men do, and they are also more likely to take time off during their careers to raise children. Furthermore, women also invest less aggressively than men do.

All this results in financial hardship for many women later in life. Susan Black, director of financial planning at eMoney Advisor, offers these tips for women hoping to improve their finances:

• If you're married, don't leave the financial planning to your husband alone. "If your husband is taking the lead, that's fine. But stay involved as an equal," she says. Discuss your savings options with your husband and learn your financial options.
• While the rule of thumb is that you should save 10% of your gross income each year, Black says that women should save 12%. This is to account for their longer life expectancy and the loss of wages many women face when they raise their children.
• If you're a stay-at-home mom and your husband works, open up a spousal IRA in your name. Your husband can contribute to it on an annual basis, and you'll both have more money during retirement.
• Make sure you have enough life insurance. Half of all marriages end in divorce, and three quarters of all women are eventually widowed. Have enough life insurance to cover at least five years of income.
• Invest in long-term disability insurance. An unplanned illness or accident can cripple your finances. If your employer doesn't offer it, obtain individual coverage through an insurance company.

source: www.marketwatch.com ; by Marshall Loeb

Tips on Selecting An Insurance Company

When shopping for auto insurance, do a little homework first, shop around, and select your insurer carefully. Your insurer should offer both fair prices and excellent service. These tips will help you find the right insurer for you:
> Know your state's auto insurance requirements:
Most states require you to carry a minimum amount of liability coverage. Many states have "no-fault" auto insurance systems. Coverage for medical costs for you and your passengers is optional in some states. Coverage for damage to your car is optional.
> Write up your personal auto insurance profile:
List pertinent information concerning what type of vehicle you drive, where you drive, who else drives, what your driving record is, where you live, what optional safety features your car has. This profile will make the next step easier.
> Comparison Shop:
Prices for the same coverage can vary by hundreds of dollars, so it pays to shop around. Ask your friends, check the Yellow Pages, and call your state insurance department for guidance. Contact insurance agents or companies for general pricing information. Select a few insurers for personalized quotes.
> Meet with potential insurance agents:
Make a few appointments, bring your personal auto insurance profile with you, and ask questions. You want a fair price AND quality service. Ask about available discounts, higher deductibles, service options and claims procedures after accidents. Take notes.
> Compare Again:
Consider cost, coverage offered, and quality of service available. Select your insurer.
> Read your policy:
Yes, even the fine print! Ask questions. Keep your policy at hand. Call your insurer to keep your policy up-to-date, inform your agent of any changes (new car, new job, new driver, etc.), and ask periodically about any possible discounts. Review your policy yearly with your insurer.
>Keep your insurance information with you:
Many states require drivers to carry a proof-of-insurance card with them when driving. Ask your insurer for a card, and keep it in your wallet or in your car

source: www.collision-insight.com

TOP TIPS FOR INSURANCE

There are several things to remember about insuring your new property:

		Building insurance - This is usually paid in advance of moving, at contract exchange stage
		Household contents insurance - The premium for this type of insurance is likely to change when you move - you may have more or less items or may be moving to an area with a different insurance rating. You will need to adjust the coverage before moving.
		Car insurance - do not forget to inform the insurers of your car of a change of address

Some mortgage company deals tie you into buildings insurance. While this is not common, it is always worth shopping around to find the best insurance deals before making a final choice. The same applies to household and car insurance. You may find that your new area is cheaper with another insurance company than with your current one.
Check 1st Quote to find out what is the cheapest option for you. Insurance rates depend on the area in which you live. Buying or selling a property is also a good time to check your general finances as well as regular outgoings such as utility bills to see if you can move to a cheaper company or tariff arrangement.

source: www.goodmigrations.co.uk

Tips for Getting Cheap Car Insurance

Most new and learner drivers are on a limited budget are looking for cheap car insurance. Here are some car insurance tips and suggestions to consider when trying to get a low cost motor insurance policy and keep premiums down:

• Opt to pay a higher excess in the event of an insurance claim.
• If you have recently passed your driving test, investigate whether it would be cost-effective to complete the Pass Plus training programme to qualify for car insurance discounts.
• Investigate buying car insurance online as some companies offer a worthwhile discount for policies purchased in this way.
• If your vehicle is not fitted with an approved immobiliser, compare car insurance quotes with and without one fitted. It may be cost-effective to have one installed.
• Limit the number of miles you drive each year, and tell insurance companies your typical annual mileage when getting quotes.
• Use an insurance broker if you can't spare the time to 'phone or shop around to get quotations yourself. Alternatively, consider using an online service such as moneysupermarket.com to automatically compare motor insurance quotes from more than 60 providers.
• If you are a student, include Endsleigh in the list of insurance companies that you contact for car insurance quotations.
• Restrict the drivers on your car insurance policy. In particular, minimise the number of young drivers under twenty-five.
• Drive a cheap car with a small engine.
• Start building and protecting a 'no claims' bonus as soon as possible. In the long run, this will have a significant impact on your ability to get cheap car insurance.
• Don't modify or customise your car.
• If your car was very cheap, it may be cost-effective to have third-party, fire and theft insurance instead of fully comprehensive cover. Compare quotes.
• Park your car in a locked garage or other, secure, off-street location overnight.
• If you belong to a trade union or professional society check whether it has negotiated cheap car insurance policies for its members. If it has, include the associated insurer in the list of companies from whom you seek quotes.

source: www.thepass.org

TERM LIFE INSURANCE

Term life insurance is a policy that provides coverage to the insured over a certain length of time. One key characteristic of level term life insurance is that the premiums remain level for the life of the policy (whether it be 5, 10, 15, 20, 25, or 30 years).

Yearly renewable term life insurance has a lower initial premium. However, the premium rises each year. Yearly renewable term life insurance is only cost effective for a few years because of the increasing premiums. If you are looking for term life insurance that runs more than a few years then a level term life insurance policy can cost less.

Reasons for buying term life insurance:Term life insurance cost less than permanent insurance. A potential buyer may have young children at home and he/she has to protect his/her income.

source: www.tipsanswers.com