Get Quotes Compare Online Health Insurance Quotation

Gap Car Insurance: Do You Need It?

What is gap car insurance and how do you know whether you really need it? Gap car insurance, like many other types of insurance isn’t necessarily required. That is to say that you can certainly purchase a new car without gap car insurance; however, you could be leaving yourself open for some losses if you don’t purchase it. Read on for more tips to better understand whether you need gap car insurance or you can skip it.

Get Quotes Compare Online Health Insurance Quotation

Gap car insurance covers the difference between the market value of your car and your loan amount. Aren’t the two the same, you might ask. Not necessarily. You see, the moment you drive your car off the lot it depreciates, or loses value, immediately and quite significantly. Let’s say you purchase a new car and pay $25,000 for it. On average a car will depreciate at least 20% right after it leaves the dealership. That means your brand new car is now worth only $20,000. What happens if you have an accident soon after the purchase? Even if you have full insurance coverage, including comprehensive and collision, your insurance policy will still only cover the market value of the car. Unfortunately, even though the market value and insurance policy are now worth only $20,000 you still owe in the neighborhood of $25,000 for the car. Without gap car insurance you’ll be stuck covering that additional $5,000 on your own.

Be aware that not all gap car insurance policies are the same and this is important. For example, some gap car insurance policies will cover losses due to theft and accidents but not all so be sure to ask questions regarding specifically what is covered in the policy before you take it.

Usually, gap car insurance is a good idea if you are about to purchase a new car and are concerned that you wouldn’t be able to cover the difference between the market value and the amount that would be cover by the C&C policy. Be aware that gap insurance is not available for older vehicles in most cases.

While you’re certainly not required to take out gap car insurance by your lender or the dealer, it can help you to rest easier in knowing you won’t be stuck owing thousands of dollars on a totaled car in the event that you suffer an accident or theft shortly after the purchase.

Get Quotes Compare Online Health Insurance Quotation

It is also important to understand that if you finance your car through the dealership you can usually take out gap car insurance at the time of the purchase; however, you’ll probably end up paying more for the policy than if you simply took it out with your regular auto insurance agent.

Before taking out gap car insurance, always be sure to check your existing policy to find out whether gap insurance might already be contained within that policy. You never know, it might not necessary to purchase an additional policy at all. If it’s not included, give some thought to whether the price of the gap insurance would be worth the trade-off of not having to worry if you have an accident and can’t afford to pay the difference between market value and coverage amount with a regular policy.America Health Watch

Gap Insurance: A Financial Safety Belt

Why is gap insurance considered as a financial safety belt? Simply put, it keeps you from being financially ruined when disaster hits your car. For example you are in this situation, you bought a late-model car three months ago using a car loan with a regular car insurance. The car costs $30,000 and you have already made three payments of $900 each month. Then, disaster strikes. An electric post falls and slams down on your car. The car was flattened to half its height.

Immediately, you reported it to the auto insurance company, which they in turn play with numbers, mileage, depreciation, market values, and other related stuff. After a couple of days, the adjustor informs you that the worth of your car at the time of the accident is $25,000. This is the amount that the auto insurance company will provide you. But the finance company that gave you the loan will still consider the car to be worth its original price. They also play with numbers, interest rates, taxes and license fees. Then they come up with the amount of $38,000. This is the amount that you need to pay them. If the auto insurance company releases the $25,000, where will you get the remaining $7,000? Your car is already a wreck but you still owe the finance company.

You need not face such a dilemma if you have a gap insurance. With the gap insurance, you can ignore the difference between the amount covered by the regular car insurance and the amount you owed the car loan company. This difference is called a “gap” and the gap insurance bridges it so that you need not rack your head for additional financial resources.

A car lease contract must also have a gap insurance. It is a feature that prevents you from draining all your finances. Some dealers who lease cars don’t offer a gap insurance. This is okay as long as they include a “gap waiver” in their lease contract. This waiver declares that you are no longer responsible for gap charges that may occur when your leased car is wrecked.

When you get a gap insurance, determine how much is offered in the gap policy. You should also know how much will be added to your monthly bill. A gap insurance, for it to be recognized, must be accompanied with comprehensive insurance policies that cover collision.

Sometimes, a gap insurance may no longer be needed if the terms in your regular auto insurance policy indicated that the company will pay off the full amount you owed from the car loan lender.

Georgia Car Insurance Quote – What Is A Good Deal?

Some Georgia statistics

The average auto insurance expenditure for 2003 was $758.69 per year. When compared to the rest of the United States this is very affordable. Georgia ranks right in the middle as number 25 in the contest for the most expensive car insurance. The number one position belongs to New Jersey with average expenditures of almost $1,200 per year. In cities like Detroit and New York the averages are much higher and range from $3,000 to $5,000.

Although Georgia is considered affordable there are still many ways to decrease your monthly auto insurance bill.

Get Quotes Compare Online Health Insurance Quotation

As any business insurance companies have costs and can only budge so much on what kind of price they can offer. 65% of the premium that you pay goes straight to claim payouts. This leaves only 35% for overhead and profit. Overhead and taxes account for 25% of your premium which leaves 10% profit. (2004 Insurance Information Institute) 10% profit however leaves plenty of room for an individual to compare quotes and shop around for a good deal and find it.

How to pay only for what you need

First and foremost do not insure yourself for damages that you can afford to pay. Insurance is wisely used only to cover damages that cannot be paid for out of your own pocket. For instance compare what higher deductibles would save you compared paying one in the case of an accident. Think about what your driving record has been like in the past three years and make a good guess as to what your record will be like in the future three years. Is it likely to change?

Germany’s Health Insurance System

About 87 percent of the residents of Germany have statutory health insurance, i.e. GKV. As of May 2005, the GKV relied on 321 non-profit sickness funds to collect premiums from their members and pay health care providers according to negotiated agreements. Those who are not insured this way, mainly civil servants and the self-employed, receive health care through private for-profit insurance.

An estimate of 0,3 percent of the German population (around 250,000 people) has no health insurance at all. Some of them are so rich that they do not need it but most of them are poor and receive health care through social assistance.

Germany’s statutory health insurance

There are three different categories of sickness funds: primary funds, substitute funds and “special” funds. Some workers are required to be members of the primary funds, e.g. if they earn less than the than the income ceiling (2006: EUR 3,937.50 per month / EUR 47,250.00 per year). Those earning more than that ceiling may be members on a voluntary basis, or they may have a choice of funds. Some of them automatically become members of a particular fund for example because of their occupation (company-based funds) or place of residence (local sickness funds). Some occupations have their own “special” funds, e.g. farmers or sailors.

Substitute funds are divided into two kinds: they provide health insurance to both white collar workers and blue collar workers earning more than the income ceiling. Membership is voluntary.

Both, employers and employees pay half of a member’s premiums, which in 2006 averaged between 13 and 14 percent of a worker’s gross earnings up to the contribution assessment ceiling (2006: EUR 3,562.50 monthly / EUR 42,750.00 p.a.). Premiums are fixed according to earnings rather than risk and are unaffected by the respective member’s marital status, family size, or health. Premiums are the same for all members within a particular fund with the same earnings.

Germany’s private health insurance

About eleven percent of Germany’s residents pay for private health insurance provided by some 40 for-profit insurance carriers. Many of those choosing private insurance are civil servants who want to secure percentage of their medical bills not covered by the government. Some sickness-fund members buy additional private insurance to cover such extras as a private room or a choice of physicians while in a hospital. Otherwise, the medical care provided to the publicly and privately insured is identical. In both cases the same medical facilities are used. Self-employed persons earning above the income ceiling must have private insurance. Members of a sickness fund who leave it for a private insurance carrier are not allowed to return to public insurance.

As opposed to the statutory heath insurance, contributions to the private insurance depend on the member’s age, gender, occupation and health status, that is, the individual risk. Although private insurance companies pay health care providers about twice the amount paid by the primary sickness funds, private insurance is often cheaper than statutory health insurance, especially for younger policyholders without dependents. As is the case for members of sickness funds, employees who have private insurance have half their premiums paid by their employers.

Get Car Insurance Rate Comparisons Online

Auto insurance deductibles On my way to a company authorized seminar, a deer hit my car, causing considerable damage.  As it was my personal car, not my company’s, my auto insurance will be used to cover the damages.  Free auto insurance rate quotes and new car prices direct.  Auto policies are heavily regulated by the state you live in and most situations require insurance to pay no matter who’s driving your car.  Visit Answer Financial for car insurance, home insurance, life insurance, health insurance, auto insurance, vehicle insurance, boat insurance, renters insurance and more.  Flood damage to your car is also covered if your auto insurance policy includes comprehensive coverage.

  Allstate – Get an online car insurance quote or retrieve your saved auto insurance quote.  Prepare for the unexpected: Find the right insurance Auto InsuranceGet free quotes for car insurance from some of the nation’s leading insurers.  Adding supplemental insurance coverages like towing and labor or car rental reimbursement to your basic auto insurance policy may save you money.  When researching auto insurance companies, consider the following:Customer Service You want to be treated right when you buy car insurance.  Get car insurance rate comparisons, and buy your auto insurance policy instantly.  AIG Auto customer service representatives are available 24/7/365 to provide answers to your car insurance queries.  Only by shopping around and comparing auto insurance quotes will you find the cheapest car insurance rates going.  If you rely on your regular everyday auto insurance to cover your rental car, chances are that anyone living in your house is covered.  Credit card coverage Some credit card companies will supplement your auto insurance when you rent a car. 

  Buying a less expensive car will cut down on your insurance and liability coverage costs.  Gap Insurance: If you are driving a newer or unpaid for car, consider adding this coverage to your policy.  Compare each insurer’s insurance rates, features and coverage to get the car insurance policy you need fast!  Superior Car Insurance will provide free immediate online quotes, affordable car insurance coverage, and the satisfaction of being more than just a number…  UIM coverage pays for death and injury expenses to you or occupants of your car when the other person’s insurance is inadequate. 

Coverage OptionsDepending on your situation, your car insurance coverage needs will vary.  Negligence, omission of reasonable care of vehicle, or failure to remove vehicle keys while vehicle is unattended will void coverage under this insurance contract.  In fact, some states require all motorists to carry this coverage to gain protection from inadequate insurance coverage of other drivers.  That’s why you should research insurance coverage before you buy your car.  GEICO is probably the only company who will still give you car insurance coverage if you are currently uninsured. 

  If you print them off, then you can sit back with your coffee and do a car insurance quote comparison of the rates.  It is best to request at least three quotes so you can do a car insurance quote comparison when you get them.  Now you can see why you get such a difference in the Car Insurance Quote by going to various companies.  Get your car insurance quote online today.    You could save even more by getting a free online car insurance quote.  Opt for a car insurance quote, and the cover may not be so good.   Fill out a request and get a quote for car insurance today.  Get a great quote for car insurance today!  Click here for a car insurance quote.  Click here for a long term care insurance quote.  One single enquiry through theidol.com will quickly provide the most competitive car insurance quote from a wide range of the UK’s leading car insurers.  Get an online car insurance quote today and find out if switching to Allstate could save you money. 

  The insurance company is totaling my car.  An insurance company totals a car if repairs would cost more than it is worth.  When you begin shopping for car insurance, look for a company that is reliable, secrure, and financially sound.  The car insurance market is highly competitive and every company wants your business.  When these older less valuable cars are stolen or damaged, the insurance company usually pays you the depreciated cash value of the car.  So a letter telling you that your insurance company no longer will cover your home or car can be an unsettling experience.  Work for an insurance company in some department that doesn’t deal with car insurance.  Should you be driving a car uninsured and crash, but your passengers have insurance, then their insurance company will have to pay out.  If you are relying on credit card or over-the-counter insurance from a car company, your teen might not be covered.  Many credit companies will not allow you to use their collision insurance if you purchase any from the rental car company.  Low cost car insurance Alternatively, Insurancewide can find the car or breakdown insurance company that best matches your individual insurance profile.  Please click to write your own UK car insurance company Buying insurance for a company car varies very little from purchasing it for standard vehicles. Cheap Medical InsuranceHealth InsuranceinsuranceLow Cost Health InsuranceMedical Insurance

Leave a Reply

Your email address will not be published.