Need Auto Insurance? Find Out How Here

It is mandatory for all new car owners to get auto insurance. The Road Traffic Act stipulates that all motorists should be insured against liability and it declares driving a car without a minimum level of insurance is illegal. The violation can attract severe civil and criminal penalties. This can be easily avoided by securing a proper auto insurance cover for your vehicle as per your state’s demands. It is quite a simple process.Nowadays, there is so much dependence on vehicles that the best thing to do is to follow all stipulated guidelines religiously. Getting the right auto insurance cover is one of them.What Is Auto Insurance All About?Auto Insurance simply means a contract or an agreement between an auto owner and an insurance company. Under this contract, premium is paid to the insurer and in return he pays for any car related losses as detailed in the policy.Key Legal RequirementsIn order to get an insurance cover for your vehicle, you would need to fulfill the following requirements. It’s advisable to find out the requirements in your respective state since these may vary. However, these are the broad requirements for auto insurance.Firstly, you should be in possession of a valid driver’s license before you go in for registration or insuring your car. For your license you would need to approach your local DMV (Department of Motor Vehicles). This is the primary requirement.You will also need to have an auto title. It is a legal certificate of ownership that confirms that you own the car. Most of the paperwork is already done when you purchase a gar from a dealer. Licensed dealers are needed to transfer the title of the car in your name. The title will list the owner’s name, address, make of the car, model and year of the car and the date of sale. This should be retained by you.Next, you need to get your car registered. You can apply for registration at the local DMV. The requirements may vary from state to state. In order to register your vehicle, you will require a valid driving license, signed certificate of title for the car, address of residence and proof of your insurance.The law also stipulates that that a vehicle more than three years old should have a valid MOT certificate. It is not possible to tax a vehicle without MOT and certificate of insurance and driving without them is an offence.It is also vital to keep the insurance company informed in case of any vehicle modifications and fixed penalties. Failing to do so is an offense and may affect any claim that you make.You are also legally obliged to take the basic level of auto insurance that will cover you against third party claims. Since the legal requirements for auto insurance vary from state to state, you will need to clarify the level of cover that you require while taking auto insurance. Only insuring the legal minimum isn’t necessarily the best choice to make.As a proof of your auto insurance, the company issues you the following documents – A Certificate of insurance which will also be required for buying your road tax; A cover note that will act as a temporary policy and certificate until your new insurance policy has been set up; and Policy documents which gives a detail of all that you are covered for. Read the documents carefully to understand your rights and obligations under the policy.Insurance companies have set up claim help lines and accident emergency recovery hotlines for ensuring a smoother process. In case of any ambiguity in terms of insurance or legal requirements, get your doubts cleared by talking to the company.

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Are You Being Overcharged on Your Auto Insurance?

Every one of us need to have our auto Insurance if we own a car, this is needed because the law made it compulsory for all car owners to get auto insurance to protect the driver and others while on the road. However, auto Insurance can be pretty expensive and you can be over-charged if necessary attention has not being paid for when you select your auto Insurance policy or company.Under many circumstances, people complaint about being over-charged on their Auto Insurance. How can we tell if we have been over-charged soon enough for us to pull back from the current insurance plan and seek for alternative insurance policy which is reasonable?There are several ways to tell if you have been over-charged on your auto insurance:You may be a reckless driver and used to get summons for your bad driving or wrong parking a few years ago, at that time, let’s say your insurance premium is at USD1200 per year when you started the policy in 2006. Since then you have turned over a new leaf and did not offend any driving rules at all, but yet you are still being charged on the same Insurance premium in 2009.You should get an auto loan insurer who is always there ready to reward their good customers by providing discounts to reduce their premium amount if their credit score improved.Other than the premium amount, every month you are entitled to pay for some additional fees which you have not being informed of earlier by your insurance agent, such as maintenance fees, administrative fees and some type of maintenance fees which you do not think that you ought to be charged in addition to because you have been informed that all processing fees have been included into your premium cost when you enrolled for the plan.You are found to be paying a much higher monthly payment as compare to some friends of yours, within your circle of friends, who own the same car model which were manufactured in the same year too.If you came to be aware on any of the above lately, it is about time for you to “fire” your insurer and get yourself a better insurer who are concern and place high priority on their customer’s needs and conditions. A good insurer will always be there to look after your policy and to ensure your benefits are well -managed and focus on.That is why it is so essential for one to take their time searching around for the right type of auto insurer ahead of time who places their customers’ benefits above all other things and who are there readily to help you whenever their assistance is required. The internet is a good place to search for your optimum auto insurer.Other than that, you can take initiatives to ask around for advice, feedback, sharing and recommendation from your friends, family members or business associates in terms of their Auto Insurer and explore each of the pro and cons of the insurers.By the end of the day, the key thing is that you need to make sure you get the right insurance plan from the right Insurance company from the beginning as ending the contract with them later might cause you certain penalty cost because most of these contracts can only be renewable on yearly basis.

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Best Time to Invest or Start Investing Money

People often ask me “when is the best time to invest money”, or “is now a good time to start investing my money”. Now, in 2014, may be the best time to invest or start investing money… but only if you have your ducks in a row.Many people start investing money prematurely – before they have their financial house in order. Then, they continue investing until they either want their money back to buy something, need their money back to pay unexpected bills, or start losing money. In other words, they get started before they have their ducks in a row. Three factors will determine the best time to invest or start investing money. And, no, the best time to invest does not depend on the state of the economy or the trend of the stock market.Before you start investing you should have a reliable source of income and a good cash reserve to cover financial emergencies as well as purchases you plan to make. Third, you should have a basic knowledge of financial terms as well as of stocks, bonds and mutual funds before you invest a serious (for you) amount of money. Even if you plan to use the services of a financial planner, you will need to be able to communicate with him or her.Saving money to establish a cash reserve is the first step for many people. Once you start investing money for a long-term goal like retirement, you don’t want to interrupt the process because you ran low on cash. This can be costly, especially if your timing is bad and you need to liquidate with a loss.The best time to invest is when you have your financial house in order. On the other hand, the best time to invest money in stocks, bonds, and mutual funds is another question. For example, 2014 might not be the best time to invest in stocks, or even bonds. But you need to make your money grow. That’s why you need to get a handle on mutual funds, and the process called asset allocation. Mutual funds are the best way to start investing money. They offer average investors professional money management, and a diversified portfolio, usually at a reasonable cost.Asset allocation is the single most important consideration when you invest money. You want to spread your money across the asset classes in order to both make your money grow, and keep your risk moderate. Mutual funds make this easy to do. They offer stock funds, bond funds and money market funds. If you want to start investing in 2014 (or just start over) put equal amounts of money in a diversified (large-cap) stock fund, an intermediate-term bond fund, and a money market fund. This asset allocation is simple and should keep you out of serious trouble, even if 2014 turns out to be a rough year for investors.No one knows the best time to invest in stocks or bonds, but the best time to invest or start investing money is NOW if you have your ducks in a row. NOW is also the best time to increase your investor IQ by learning more about investment basics and investing strategy.

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