Why Should I Get Home Insurance Cover?

There are many benefits to taking out home insurance in Nigeria. In fact, as a responsible homeowner one simply cannot go without home insurance these days. A home is the place where you are supposed to feel secure in and where all your most valuable possessions are. These include family heirlooms, photographs, your furniture, appliances and clothes and other valuable items. Should the unthinkable happen and your valuables and possessions become damaged or stolen in your home, then insurance will help you to cover the financial loss so that you can replace them and be in the same position that you were in prior to the tragedy.

With so many insurance providers in operation throughout Nigeria today, you can easily find many bargains for your home insurance. It also means that you can find affordable home insurance without breaking the bank. If you’ve ever wondered about the many benefits associated with investing in home insurance, then read on:

  • Protected against burglary and theft: One major advantage of home insurance is the fact that you and your family will be protected against burglary and theft. This is especially important in Nigeria and you will be protected against the financial devastation of having to replace your possessions after such a trauma.
  • Protected against damage to your property: No one ever anticipates an emergency – if they did then it wouldn’t be classified as an emergency. Damage to the property can happen all too easily nowadays – a burst pipe or burst geezer can cause severe water damage to the property and ruin your appliances. A fire or act of nature can cause extensive damage and if you’re not insured then you will not have the resources of an insurance policy to help you deal with this.

When you take the above benefits of investing in a home insurance policy into account, it greatly justifies the amounts you pay for the monthly premiums. You will have the peace of mind knowing that your home and possessions are protected against any of life’s unforeseen happenstances and traumatic events.

Different Types Of Car Insurance, Which One Do You Need?

The costs of the smallest of all repairs on a vehicle makes having car insurance a great thing to have. When adding the medical expenses that can be associated with a car accident, things like health insurance and car insurance is just a very important thing to have. However, with so many options available today, how do we know which type of car insurance to invest in?

It is often difficult to decide which type of insurance to invest in. With so many options, how do you make the best choice? Here is a bit more information on the most important aspects of the different types of car insurance policies that are available:

Liability Car Insurance: Liability insurance is important to have. Should you be in a vehicle accident and it ends up being your fault, liability insurance will cover the costs associated with repairing the property that has been damaged in the crash. This can include that of cars and buildings. It will also cover the medical bills which results from injuries relating to the crash. It is a must have for any road user and you have to protect yourself by getting this insurance.

Collision insurance: If you only take liability insurance, one of the biggest problems is that you might be stuck having to pay for your own vehicle’s repairs out of your own pocket. With collision car insurance the insurance policy will ensure that the insurance company will pay to have your car repaired. If the car is written off during the accident, with collision insurance the insurance company will pay out the value of the car to you.

Comprehensive insurance: Collision and liability insurance will only cover that of car accidents. If there is something else that is to happen, such as theft, weather damage or animal collision, then you will not be able to submit a claim to the insurance company. This is certainly not the case with comprehensive insurance. Even though this type of car insurance is definitely more expensive, it offers you the most comprehensive of all types of car insurance policies available on the market today. Visit car insurance quotes 4 you and get yours today.

7 Money Saving Ways With Life Insurance

Cheap insurance isn’t always best. Without reducing your life insurance cover, find a company you can trust. The criterion for a good life insurance policy is to take good care of you with a healthy lifestyle. By following these guidelines you will find a policy that fits with your requirements.

1. Finding the right policy.
With life insurance, basically there are two main types. With Term life insurance there are time frames and achievement goals built in, education or paying off bonds. Then there is permanent life insurance which goes with you through your whole life and is an excellent policy.

2. The earlier the better.
The earlier you take out life insurance your premiums will be less. Generally, insurance companies base your premiums upon life expectancy. Buying a whole life policy when starting your working career, will save. Starting early with a life policy you can build up one worth great value, this could be a helping hand later.

3. Have more than one policy with the same company.
Insurance companies tend to favour customers who buy more than one policy with them. It’s a lesser risk; less of a chance paying out on more than one policy. By using one company as your main insurer that underwrites your life insurance, business insurance, motor and home insurance, you can save on premiums.

4. Those brokers work for you.
As brokers are independent, working with several insurance companies they can look for the best deal. If you are tied down with one company your options on coverage are limited.

5. Think future.
Life can be cruel; you need to consider more than one life insurance policy for those left behind. It doesn’t have to be immediately.

6. Never own your life insurance policy.
Listing yourself as the owner of the insurance policy opens up all sorts of problems such as tax. Rather use a listed beneficiary or executor.

7. Never buy the first policy offered.
Shop around first for quotes. Be certain the company you choose is a stable one, that it’s got history.

Is Life Insurance Necessary At A Young Age

In today’s society, a common misconception amongst young people (mainly between the ages of 20 to 30) is that they are invincible. It is precisely this attitude that causes most young people to use poor judgement when it comes to life insurance. Because most young people only have themselves to think of they fail to see just how important life insurance really is.

  • I am young why do I need life insurance?
    If you fall into the category of not having a spouse or children to care and provide for, should you die young ask yourself this, what about the other people in your life, your parents and grandparents or siblings. Although they may not be dependent on you being the beneficiaries of a life insurance policy, a life insurance life policy could go a long way in securing a comfortable retirement, or help with those pesky mortgage payments, even help secure a education fund. You see there is always someone to think about.Besides in the event of your untimely death, to who will the responsible fall for repaying your student loan or to pay for your funeral, which believe me could run into thousands of rands. It is very unfair to leave your already grieving loved ones with such a burden as well.
  • As a young person when should I get life insurance?
    Right now is the best time because you are young and in good health you will most likely pay a lower premium provided you are a non smoker and don’t drink heavily.
  • What life insurance policy should I purchase?
    As a young and single adult without any “dependants” that has only just started working at your first job, you will only require a basic term life insurance policy. They are practical, provide you with the coverage you require and are in expensive. Most people have to work on a very tight budget which is why purchasing expensive life insurance is at the very bottom of the budget list, where a less expensive life insurance policy is easier maintainable on a monthly basis.  As your life progresses you will automatically upgrade your life insurance policy to provide for your family’s needs should you pass away.

No matter your age you need life insurance, do yourself and your loved ones a great kindness and purchase life insurance today.

Determining Our Life Insurance Needs

Let’s face it; death is never going to be a cheerful subject.  Nobody wants to talk about it, discuss it or even think about it.  Least of all me, as I have just started a new life in my new home and I have a baby on the way.  But since death is inevitable for all of us, it’s time to give it some serious thought.  Insurance forms a big and very important part of death. Life insurance has become indispensable and the soon you invest in a good life policy, the better.

Term life insurance is the next insurance policy that I’m about to invest it.  The reason for this is that the benefits of term life insurance remain the same for the duration of the policy.  This is not the case with bond or mortgage insurance.  Term life insurance is long term insurance, mainly up to 20 years.  This type of policy together with savings that are invested in an investment fund will ensure that my unborn child’s university education is taken care of without any problems.

If you are currently without any form of life insurance policy, you need to consider the benefits of taking out a life policy as soon as possible.  The following factors need to be taken into consideration when taking out a term life policy:

  •  Any existing life insurance policies (assets)
  • Total net income of your household should one of the breadwinners pass away.
  • How much debt in total is owed to third parties and how much of it will become your burden should your spouse pass away suddenly?
  • What will be your total household expenses, including education for your children, if your spouse dies?
  • If you and your spouse both pass away, what financial requirements would need to be taken care of with regards to your children?
  • Funeral costs

Any large amounts of debt need to be covered by your life policy and a monthly flow of cash needs to be provided by your policy as well. Just as I’m planning to be completely self insured in 20 years’ time, I sincerely hope that you will use the above advice to do the same.

New Parents And Life Insurance

When a baby is born the parents are instantly bombarded with extra responsibility changing diapers, feeding and clothing the baby, but by far the most important responsibility is to provide and care for their new family, both in the present as well as the future. But what if that future didn’t include the sole bread winner?

The answer is simple, life insurance it is the best, easiest and most affordable way to ensure that your family have the life and education they deserve.

In a nut shell, life insurance is a policy that is purchased through a life insurance company that in the event of the policy holder death the insurance company must pay the named beneficiary the value of the life insurance policy, provided that the policy holder has paid his / her monthly premiums promptly.

No one plans to die especially if they are married and have young children to provide for. If you have just welcomed your first baby into the world and you already have a life insurance policy, the first thing that you need to do is to re-evaluate your existing insurance policy to ensure that it still meets your individual needs. As a matter of fact re-evaluating your life insurance policy on a regular basis (at least once a year) you could actually save yourself some money.

Even if the entire family is dependent on a single bread winner, it is of the utmost importance that both parents have sufficient life insurance cover. You may find yourself asking just how much life insurance will be needed?

Always purchase insurance policies that offer no less than four to five times the sum of your yearly salary.

Life insurance policy holders should be advised to update and name all beneficiary designations immediately after the birth of a baby. Another important fact is to name a contingent as well as a primary beneficiary. This is done to ensure that in the event of your death funds are instantly available to your family instead of going into your estate which could take a considerable time and money to finalise.

The High Cost Of Home Insurance

In our day and age insurance is a necessity. Whether it is life insurance, car insurance or home insurance, you need it and let’s face facts a bank will not give you a home loan if you don’t purchase comprehensive home insurance and home insurance itself can be rather expensive.

Following is some ideas on how you can save yourself some money on your home insurance policy. As long as you keep these key elements in mind you should be fine:

  • Cover your home fully

Research shows that more than half of home owners have insufficient home insurance in other words not enough cover to replace their homes. This is an unnecessary risk; always ensure that your home insurance includes the cost of building a new home and the replacement cost of its contents.

  • Purchase necessary coverage

All home insurance policies will provide the policy holder with coverage against certain disasters; this is where your geographical knowledge will come in handy. The area you live in will indicate whether or not you really need earthquake coverage, because there is no logic in paying for coverage that you simply do not need. It should be noted that some disasters such as floods are not included as a standard option in a home insurance policies and need to be additionally purchased.

  • Cover your valuables

The majority of insurance policies will have an adequate limit that will cover your valuables. However in case you have antique valuables you will need to take additional insurance, known as a rider to ensure that your valuables are covered to the full extent.

  • Compare insurance

Saving the best for last. The best and most simple way to save money on your home insurance policy is to compare insurance quotes. Most insurance companies offer different insurance policies at different monthly premiums. The best way to compare quotes is to go online and request an insurance quote from several different insurance companies. Always remember to give each insurance company the exact same information, this will allow for a more accurate comparison. For affordable insurance quotes Click Here.

The Two Reasons Why Every Business Should Get Insurance Cover

Many business owners are of the opinion that having business insurance is not only unnecessary but expensive and a waste of time on top of it. Having such an opinion could very likely carry a very high price tag.

In the following article we will take a look at the most important reasons why you should have business insurance as well as share some incredible tips that may just save you some money.

Insurance against company Liability and Disasters

  • Liability insurance – No matter the type of business that you have accidents can happen. Let’s say for instance a customer or employee injures themselves on your property, you as business owner will be held liable for a variety of medical bills that may very well run into thousands of rand’s. On the other hand if you have liability insurance you have nothing to worry about as the insurance will then provide the needed coverage.
  • Disaster insurance – Most disasters such as earthquakes, hurricanes and floods are classified as a force of nature and no one can control Mother Nature. There’s no way to tell where or when she will strike such a disaster could be devastating to your business. This is where disaster insurance comes into play, should a disaster strike your insurance policy is you assurance that you will be taken care of. As extra precaution business interruption insurance could also be purchased should you business need to close for repairs this insurance policy will compensate you for any income lost.

Insurance against Theft as well as Litigation

  • Theft – Criminals are everywhere, like a hungry lion on the prowl they are looking for an opportunity to burgle. It is always a good idea to have replacement insurance should your business ever fall prey to thieves. Replacement insurance will ensure that your equipment be replaced fully and in a timely fashion.
  • Litigation – As a business owner the possibility of being sued is very real. Whether it is due to malpractice, injury or other disputes. There is always a possibility that you could lose the lawsuit in which case you may be ordered to reimburse the offending party a sum that is greater than the capacity of your business. If you have Litigation insurance you will have peace of mind should such a situation ever occur.

If you stop and think about it you wouldn’t hesitate to take out life insurance, health insurance or car insurance to protect yourself, family and your assets so why not get peace of mind and take out business insurance to ensure that you are completely covered. Think of business insurance like a fire extinguisher, you would rather have it and not need it than need it and not have it.

Contact Quotebee today for a free quote.

15 Things You MUST Know About Life Insurance

In all but a few cases family will not be able to carry the financial burden arising from the loss of a family member. Adequate life insurance will provide protection against loss of assets in the event of a death. Following is a summary of all items you should take into consideration before acquiring life insurance.

  • Determine the coverage you will require. Create a budget that will include all living expenses your dependants will incur up to the time of your spouse’s retirement. Include expenses such as tertiary education, medical, retirement funding etc.
  • Do research. Many insurance companies have websites that will be able to give you an instant quote. You will also be able to choose the best product by virtue of comparison. If possible talk to friend and family to determine level of service from different companies. You will be well advised to monitor consumer blog’s to determine if a company may be problematic.
  • Update your last will and testament. Update your will to prevent any delays in your estate, include life insurance policies.
  • Make lifestyle changes. Lifestyle has a direct effect on your premiums. Lose weight and in general live healthier, the benefit will not only be financial but your family will also gain.
  • Choose the right life insurance product. Determine your exact requirements and based on these requirements choose the correct product for yourself.
  • Constantly evaluate your needs. As time progresses your circumstances and needs may change. You may divorce, have a larger family than planned, or you may start a business. Adapt your life insurance to cater for these needs.
  • Buy from reputable companies. Only buy from established institutions with a solid financial footing. You will lose your money if the company fails.
  • Plan for the future. Make sure that your premiums do not increase beyond what you will be able to pay.
  • Group Coverage. Many companies provide you with group schemes. In most cases the premium may be less and no medical examination may be required.
  • Understanding insurable interest. Insurable interest is an individual you have a substantial interest in. For individuals the person must be related by blood or in marriage. Companies may take out insurance against the loss of a business partner or a valuable employee.
  • Evaluate your risk factors. Most insurance companies may request a medical examination that will have a direct effect on your premiums. In addition certain clauses may be included to exclude specific medical conditions and dangerous sports. For these conditions you may need specializes insurance that will be accompanied by higher premiums.
  • Switching policies. In some cases you may be able to switch from one life insurance product to another within the same company without the loss of benefits. It is advisable to consult your broker before switching.
  • You can modify your coverage. These modifications may include the addition/removal of children, spouse or accidental death.
  • Know your rights. Make sure you are aware of your rights as a consumer. This should include the time it will take for a claim to pay-out, payment schedule etc. For any disputes you may resort to the financial ombudsman.

Things To Know About Online Car Insurance

What is car insurance? Car insurance is insurance that is taken out on a vehicle so that should that vehicle be stolen or involved in a car accident, the insurance company will pay out a certain amount, which is normally the cars market value at the time of the theft or accident. If a car is involved in an accident and the damage to the vehicle is more than the value of the car the car will be written off by the insurance company. Other than that the car will be fixed by the insurance and the owner of the car may have to pay an access.

When taking out insurance it is best to obtain a number of quotes from different insurance companies to ensure that you will receive the best possible coverage for your vehicle at the lowest rate possible. This can easily be done by looking online to find the different insurance quotes. There are online companies that offer you a service whereby they obtain a number of insurance quotes for you to choose from, one such company online is known as More Cover. When applying for insurance at an insurance company, you will be asked a number of questions that will help them determine your insurance premium.

Your insurance premium will depend on a number of factors; for instance the area you live in. the security measures of your home, lockup garage, walling, electric fencing or other, open spaces near the home. Other factors that will influence your cars premium is the number of years that you have had your license, make and model of your car as well as your age and gender. The reason for the make and model of your car is that some cars are higher risk for theft than others.

Gender and age will influence your premium due to the fact that the younger you are, the more likely you are to have an accident and males are also considered higher risk than females. Getting insurance quotes online is the easiest and simplest way to ensure that you are paying the lowest possible premium for the most comprehensive cover.