Archive for the ‘Insurance’ Category

How To Choose The Right Travel Insurance Policy

Whenever you go on a trip overseas, it is always best to stay protected, safe and secure. Whether you are going on a business trip or on a family holiday in a different country, it would be best to be always prepared in case of any emergencies or untoward incident. You can do this by investing in a travel insurance policy.

Not all travel policies are the same though. Various companies offer different types of coverage. However, to make sure that you are fully covered during your travel, you have to correctly choose the right type of insurance policy.

To make sure that you choose the right travel insurance policy, consider following the tips below:

Find out if you already have some coverage. Without even knowing it, you might already be covered. This is because some banks now provide free although basic travel insurance coverage for their customers. As such, it’s always worth checking this before you start shopping around. While you’re doing this, have a look at your home insurance policy as well. This type of coverage will often cover the loss of personal items while away from home.

Make sure the policy covers all the basics. This means that the best travel insurance you should get must cover all the important areas or aspects: medical, luggage and personal items, excess, and cancellation policy. All of these are important and have to be covered by your policy and as such, make sure they are included in the coverage you want to invest in.

Make sure your destination is covered. Unfortunately, not all insurance providers offer coverage for all the countries in the world. You’ll find that while the US & Caribbean are frequently not automatically included in worldwide policies, African countries such as Egypt and Morocco are included in European ones. This is important to keep in mind if you’re heading to multiple locations or choosing an annual policy.

Lastly, find out if you will benefit more from an annual coverage or single trip policy. If you have plans of taking three holidays or more in the next year, get yourself an annual policy. By doing so, you will definitely save some extra money. However, make sure you check the maximum number of days covered in a single trip since some policies will provide cover for just 45 days, some for just 21. If you’re going backpacking, travel insurance experts recommend choosing a specific backpacker’s travel insurance policy.

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What Are The Benefits Offered By International Travel Insurance?

Travelling aboard is really exciting. You get to meet new people, enjoy a wonderful time, not to mention sight see so many places. However, what you don’t look into is the fact that travelling also involves many risks. It is possible for a medical emergency to arise or baggage might get lost. What will you do under such circumstances? It is travel insurance that can safeguard you during such situations.

What Are The Benefits Of Applying For Travel Insurance?

It offers protection against so many risks, thus enabling you to mitigate their losses. When you are in a foreign country and face a severe problem, you really can’t turn to anyone for help. International Travel Insurance offers compensation needed to pay for during critical situations mentioned in the policy and get back to normal condition. There are so many ways in which it protects you such as:

• It pays for baggage that has been lost during travelling
• In case you have lost passport, travel documents or travelers cheque, it pays for the loss
• In case of a sudden medical problem, it compensates for the medical bills
• In the event of the hotel or airline cancelling your trip it pays for the losses incurred
• In case of legal expenses arising in the destination it pays for the losses

As you can see there are so many benefits in taking travel insurance. It does not cost much, but proves to be highly helpful when you are faced with an unexpected situation abroad. With so many benefits it is best to opt for a policy not just for yourself but your entire family. A plan that covers everyone will offer protection for dependent children and also senior citizens.

What Is the Best Travel Insurance Plan?

There are many types of travel insurance plans available, from which you should select an optimal one. A good policy is one that offers various types of protection for yourself and your family so that you are covered for different types of losses. Look into the policy coverage to find out what type of benefits you are getting before signing. It is best to opt for more coverage so that you can face any kind of unexpected situation when you are abroad.

The Advantage of Online Application

Most of us don’t know when we will need travel insurance. A trip can arise suddenly due to business or personal reasons. That’s why travel insurance companies enable you to purchase Travel Insurance Online. Online application hardly takes a couple of minutes. Once you have completed the application, policy documents will be sent within hours to your email id. The policy documents will have information about the toll free number that you have to call to make a claim on the policy if the need arises.

Shemus Tom is a web enthusiast and a writer for different areas including insurance and banking and numerous other sectors.

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Are You Seeking Education Abroad? Get A Student Travel Insurance

Studying abroad entails a lot of risks – the risks of flight cancellation at eleventh hour, medical emergency, loss of baggage, etc. Pulling yourself up under such adverse conditions abroad can be quite expensive in itself. Also, a student living alone outside India might need visit from the family or other back-ups if something goes wrong.

To cope up with all these situations without burning a hole in your pocket, it is sensible to get student travel insurance from a reputed insurance firm. Each student who frequently travel to nearby destinations needs a student travel insurance. It keeps them protected in the new place and covers for expenses of hospitalization, loss of baggage, tuition fee, sponsor protection and travel, family visit and other incidental expenses.

Your choice to buy a good cover should be more dependent on the flexibility of the policy, the amount of coverage, claim settlement process and track record, hospital networks (the insurers tie up with the list of hospitals your child is going to study in) along with other benefits. There are many universities abroad that also provide their students extensive health cover with a strong network of hospitals. What’s good with the plans offered by the universities is that they provide cashless treatment in the hospitals based nearby.

Two important factors that you must consider while getting a student travel insurance are:

1. Gap year travel: Taking a gap year nowadays has become a custom among students around the world. This means that it will be hard for these students to find an appropriate cover especially those who will be visiting some other country, and that too alone. Fortunately, there is a wide range of life insurance policies that cater to such needs of the students and lend a helping hand to them. But an important consideration when purchasing a policy of this type is the exact period of your travel and also the destination covered, even if you are just passing through the country.

2. Extreme sports: If you are planning to travel overseas to participate in some sports activity, getting a student travel insurance that covers for extreme sports is an absolute necessity as there is always a risk of injury in sports. The insurance covers you when you get injured and helps you get treated from the best hospital in the nearby location. While there are many types of insurance policies that cover for basic medical emergencies, you should buy the one policy that provides extensive coverage if you plan to undertake extreme sports or activities. There are many insurance companies that even specify the type of sports that their policy covers for. So this gives you the option to choose the best policy that matches your criteria best.

Also, do not forget to read the details of the policy you are planning to purchase. Understand your policy well. Check what all it covers for. Keep an eye on the deductibles and the sub-limits section of the policy as these two can increase your policy premiums. After doing a thorough research on the best policy, pick the one that provides extensive coverage within your budget and complies with the university guidelines too.

If you are looking to buy a good student travel insurance policy at cheapest price, you may contact HDFC ERGO General Insurance Company at 1800-2700-700.

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Have You Considered Travel Insurance?

Have you ever thought about travel insurance before taking a special trip or vacation? Travel insurance is a quick recovery solution when the unforeseen shows up to ruin best laid plans.

I really like to travel. In fact, my wife and I recently made a major life change and move to have better opportunity to travel more often. After decades of living in the southwest, we relocated to the Piedmont area of North Carolina.

As retirees, we have spent our time seeking out historical sites in the U.S. and Canada. Our former home state required a lot of air travel to get to our favorites haunts, but now we can even explore into New England and Canada by car and train.

I don’t think we’re unique by any means. Travel industry statistics bear out that from day trips to vacations to business jaunts most Americans travel often.

The U.S. Travel Association states that we spend over $600 billion on leisure travel, both domestic and international. Leisure trips alone within the U.S. account for over 75% of all travel.

As fun as getting away from it all is, it is a rare occurrence that our trips always go as planned. Things will and do happen, especially when children are involved.

Aside from the excitement of hopping in the family car or getting on a plane, most of us have one common element in our wanderlust. We rarely consider the “what if” ingredient.

I’m not referring to what if I don’t have fun on my trip, what if we don’t like our destination, what if the weather turns ugly, and so on. I’m speaking about the what if one of us gets sick or has a medical emergency or we face some other major trip disruption, including cancellation.

You might be surprised to learn that trip cancellations do actually happen at no fault to the party losing out and injuries are not uncommon either. These unplanned events carry both the burden of emotional stress and out-of-pocket cost.

Let’s look at a family making a trek across country for a long anticipated family wedding. Everything is packed, personal items checked off the list, dress clothes carefully stowed for the big day, excitement and anticipation coming along as traveling companions. And then during the trip, they have their luggage stolen.

Staggering to think about not doubt, this happens more than you may wish to consider. Added to the shock of dealing with this away from home is the money they’ll spend getting back on track. In this situation, travel insurance could help save the day.

There are good reasons to consider travel insurance, but careful consideration must be given as to whether you really need it. Bearing in mind that trip insurance is a limited situation product, at times it makes good sense to buy a policy.

As with most insurance there are exclusions involved. Common ones include: pre-existing conditions, elective surgery, war and terrorism, and injury or illness caused by alcohol or drug use. You must know what a policy will and won’t cover before buying.

Also, understand policy definitions and clarifications. Looking back on our wedding scenario, stolen luggage isn’t covered if you’ve been negligent. While negligence is easy to understand, the insurer decides what makes up negligence and their definitions can be quite broad.

The reason for travel and destination are equally important selection factors. Is there high risk involved, such as a dangerous political climate with some threat of kidnapping or imprisonment?

Will you be doing a volunteer mission stint in an area of unrest or natural catastrophe? You don’t have to travel far from home to find this.

What about the activities you’ll be taking part in? Is white water rafting involved? Or mountain climbing, wilderness camping, scuba diving, or other extreme activity?

Think about special needs you may have that could require travel insurance. As I noted earlier, we are spending our retirement years traveling. Our Medicare coverage does not extend beyond the United States.

In fact, the last time we were in Canada we hadn’t reached the magic Medicare age. Now that we have, our next trip to Canada will include a ‘look see’ at insurance options.

For a trip we’re planning to Europe next year, we will need to take a very serious look at the medical end of things. Also, your own employer sponsored family insurance may also have some limitations outside of the provider area that must be considered.

You may discover that you don’t have good reason to take out a trip insurance policy. Your traditional health policy may extend to out of network or travel abroad. It may only have certain exclusions that don’t affect you.You may have personal funds to pay for an unexpected disruption or cancellation. A credit card would fill this gap, too. You may not travel often or far enough from home to spend the money on a policy.

As a last word, travel insurance can reduce personal risk before any extended trip or one involving an event that can’t be duplicated. It could be your save the day solution.

I have been an active investor for over 35 years. With the exception of employer sponsored retirement plans, my investments have always been self directed. My preferred investment style would fall into the value with dividend growth and income method.

I have also had a life-long interest in personal finance and have taught community classes to a varied of groups.

Investment experience in Equities-REITS-Oil & Gas Royalties-Utilities-Varied Fixed Income.

Contact: http://livingonamargin.blogspot.com/

JG is not a registered investment representative. The opinions of the author are not recommendations to either buy or sell any security. Know your level of risk tolerance and remember to do your own research prior to making any investment decision.

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Why You Need Liability Coverage From Your Insurance Company

Designed to cover professional practitioners against claims of negligence made by clients or patients, professional liability insurance goes by many names. When used in the medical profession, it is commonly called medical malpractice coverage. Notaries public also require this security, but they refer to it as errors and omissions insurance. Real estate brokers, management consultants, and even website developers are all eligible for protection.

What’s It For?

Insurance is used to protect people in case something unfortunate happens. Auto policies protect them in the event of an accident; medical policies protect them from unexpected illnesses; commercial policies protect them from a number of mishaps. If there is a fire, theft, or an accident on the job, the commercial variety will cover it.

Why You Need It

Few companies are fortunate enough to survive for a protracted period of time without getting sued by a client, customer, or employee. Liability coverage from an insurance company is the only shield most businesses have against litigious attorneys. This goes double when an employer competes in a risky industry like construction. Why?

A construction site is arguably the most dangerous working environment on earth. Not because people are careless, but because making something, anything, is risky. Workers fall down stairs; they trip on cords; they cut themselves. Builders must assume this risk and purchase the right amount of coverage from their insurance company to protect them from financial ruin. But that’s not all.

These policies not only shield the employer, but they also safeguard his workers. If an electrician falls off a ladder or a carpenter cuts himself, a liability policy will pay his medical bills. Commercial coverage will also cover most attorney fees and court costs if someone files a suit against you.

How Much Do You Need?

As you might expect, the size of the policy often depends on the size of the business. Most actuaries recommend at least one million dollars of professional liability coverage for small businesses. Large businesses and corporations obviously need a lot more and often carry huge policies. Because lawsuits are quite common in the medical profession, malpractice insurance is the most common form of liability coverage.

Most doctors have several million dollars of malpractice coverage at all times. When they work in a large practice, that figure might be five or even ten times as high. Lawyers and accountants must also carry liability because of the high rate of litigation in their fields. But what about everybody else?

Numerous Benefits

Any business that can be held financially responsible for failing to complete a project on time may need to purchase a professional liability policy from their insurance company. This includes general contractors, architects, builders, and many, many more. These policies also cover personal injury, breach of warranty, intellectual property, and security. In short, any company that has more than one employee should have liability coverage.

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Do Childcare Facilities Need Employment Practices Liability Insurance?

You’ve got a state-of-the-art child daycare built around a warm, clean and safe atmosphere. The teachers are handpicked professionals that give kids undivided attention, stimulation and fun learning. Children are happy. Staff is fulfilled. Parents are proud. What could go wrong?

Unfortunately, a lot of things – that your general business liability insurance does not cover.

Childcare Claim Examples that Really Occurred!

• Third Party Liability: After a Montessori School stated they could not admit a child due to licensed limited capacity, the parents sued for racial discrimination. The parents insisted that the school had a non-admission policy for African American children and mentioned the fact that the student body did not contain even one African American. Defense and Settlement costs totaled: $67,000.

• Internet / Email Liability: An administrative assistant for a childcare facility sent an email to all employees instead of her intended single recipient. The email contained an embarrassing inappropriate joke. The center’s director instructed the employee to send a subsequent apology email to everyone. Just 2 months later, an employee that was laid off due to company downsizing, sued because of a hostile work environment and cited the inappropriate email as proof of an atmosphere that did not respect her religious principles. The facility was discomfited and uninterested in having this lawsuit revealed to the parents.

• Retaliation: An Indian childcare employee objected to the racial insults directed at him by some of his fellow workers. As a result, the owner assigned him to another room where there was less of a staff presence. The new situation warranted less work-time and therefore his hours were reduced. The slighted employee sued the childcare center for discrimination and retaliation for relating the discrimination. Defense and Settlement costs totaled: $125,000.

• Wage and Hour: A Non-Exempt head teacher was covertly tracking hours as she worked the overtime that was requested of her. As a salaried worker, this teacher never mentioned any grievance about the additional workload. When the owner was served a wage-and-hour lawsuit by the teacher, he was caught by surprise. Although there was no way to discern if the teacher’s calculations regarding her work hours were precise, the center was guided by their lawyer to settle for the presented amount rather than take the risk of other present and past employees joining the lawsuit.

Employment Practices Liability Insurance

Employee-related claims come at a steep price. Protect your childcare center from a lawsuit with an EPLI plan that’s tailored to you.

EPLI

An EPLI policy protects you against lawsuit claims made by current, past and possible employers, as well as visitors. It’s coverage for a wide range of suits that stem from:

1. Wrongful termination

2. Discrimination

3. Sexual harassment

4. Service refusal

5. Other employee claims

Visit http://www.primeins.com/ for the best coverage and quotes. Located in Lakewood, NJ, PRIME Insurance is affiliated with tens of the top insurance companies. Experienced and caring, with a reputation that bespeaks excellence, PRIME provides protective plans for the Tri-State area and beyond. Join the ranks of 10,000 plus satisfied customers today!

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Your Guide To Choosing The Best Travel Insurance

For many travellers, getting travel insurance is really a necessity especially for those who have had bad experiences. If you travel sporadically or are yet to have the pleasure, then it would serve you well to take the word of the veterans and get yourself covered. It is really a huge advantage for travellers to have travel insurance.

It’s understandable to be reluctant to think of things that could go wrong and just focus on the fun aspect of a trip, but the prudent thing to do is be prepared for any eventuality, especially if you’re going overseas. You have to understand that not all travel policies are the same. Before you go ahead and get insurance for your trip, it’s important to shop around to find something that meets your needs.

To be able to determine which one of your many options does this, you need to do your due diligence. The following are also some of the things you need to find out before making your choice.

First, you need to verify that you actually don’t have any coverage yet. You might be surprised to find out that it was unnecessary to purchase insurance as your bank already provided free basic coverage for its customers. Review the policies that already cover you and your possessions as they may include provisions for travel.

If you’re considering a particular policy, see if it covers all the basics. The best insurance for travel protects you in all the important areas, such as luggage, personal items, excess, medical, and cancellation. Any less than this and your insurance is really rather scant.

Additionally, it is important to make sure that your destination is covered. Did you know that there are areas that are usually not automatically included in the list of places covered by worldwide policies? In any case, if you’re travelling to one location, it should be easy to take out insurance that specifically covers it. Will you be hitting multiple locations or are you scheduled to make several trips in the year? If so, then you might be better off with an annual policy instead of a single trip one.

It will definitely save you some money to know these details. If you’re going for single trip policies, make sure you find out the period that the policy covers. Once you’re covered with a solid travel policy, you can head out with the assurance that you’re protected and can enjoy your travels and trips freely. To know more about this, click here.

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