• No law forces homeowners to have insurance policies covering dog bites and other related injuries
• Many insurance providers provide homeowners with coverage for a limited number of dog breeds. As some dogs are considered more dangerous than others, it is important that you know that you may not get covered because your insurer considers the breed of your dog too dangerous.
• There are insurers who simply refuse to sell a policy to a dog owner at all. They just do not wish to insure a homeowner because he or she has a dog.
• Others insure the home property, but they provide a ridiculous liability limit for damages or losses.

So, dog owners, remember that dog bite lawsuits can always take a bite out of your own pocket.

• Life insurance is not for saving taxes, but for protection. Essentially, all forms of insurance are dedicated to protect the policyholder and/or family from certain risks listed on the policy.
• Group insurance is not enough. The fact is that group insurance is only beneficial as long as you keep your current job. But what happens when you change jobs?
• Getting life insurance does not compensate for health plans. Healthcare costs are increasing every day and health plans can make your life easier and better while life insurance can make the life of your dependants better after your death.
• Life insurance can be a great financial cushion for your retirement years in case you choose term life insurance. Life insurance is not only beneficial after you die. Some insurance gains cash value and can be drawn upon.

• Do not wait until you are 50 to get your life insurance. When it comes to life insurance, it is best purchased when you are young and are starting a family.
• Do not sacrifice life insurance coverage for low premium rates. The fact is that people are exposed to an increased and diverse number of risks nowadays. It is best to maximize the insurance coverage and make sure you and your dependants are fully protected.
• Adapt the term of your life insurance to your future plans. You have to take everything into consideration when you make your choice: children, education, potential illnesses, income security and more.
• Also, never choose the first life insurance product that you consider attractive. Compare quotes before you make a valid decision.

There are two types of life insurance: term and whole life. Term insurance covers you provides cover for a set period. It can be 10 to 30 years. This typically has low premiums. Whole life covers you until you die. This insurance begins to accrue interest after a certain time and can be drawn on for expenses such as college or down payment on a home.

Whichever type you choose, you will be getting the insurance not so much for yourself, but for those you will leave behind. It is something that will ease their minds, knowing that you had the forethought to take care of your final expenses.

Whole life insurance on the other hand aims at covering all possible life risks for as long as you live. The big difference is that it costs more than term life insurance. In most cases, this type of insurance is designed to protect your family from any financial hardships or distress in case of the death of the policyholder. Thus, the whole life insurance policy is more designed for the benefit of the dependants.

Your travelling habits influence your life insurance premium. If you are in the habit of travelling abroad, especially to less “safe” places, rates with high risks of crime, natural hazards, terrorism, illness related fatalities and more, the insurance provider will increase your premium.

For example, they check your credit history to see how likely it is that you will not pay your premiums on time. Another reason for this is to make a decision on the time they allow you before they make a tidy sum on it.

Also, they check your driving history and see your accidents. They also check how much you normally drive per year. With these two in hand, the insurer will determine whether you are more exposed to accidents than the average person is and need to have your premium increased.

Only The Working Member Of The Family Needs Life Insurance
A stay at home mom may not have a direct contribution to the household budget, but she reduces costs with childcare, housekeeping, and much more. Consequently, it is appropriate to buy an insurance policy for any member of the family who has a significant contribution to the household budget.

Disability Insurance Is Not Necessary
No one likes to think about such an unfortunate situation, but the fact is that accidents do happen. Most disabilities are caused by accidents that people have no control of. Relying on social security is not an option. Avoiding disability insurance forces your loved ones to become lifetime caregivers.

Whole Life Or Universal Are The Best Insurance Policies
Apparently, this type of life insurance policy may seem the best solution, but actually term policies are much more efficient considering that you get to enjoy the fruits of your investment in 15-30 years while you can continue to contribute to your retirement plan.

Everyone Must Have Life Insurance
In reality, only people who have dependants should buy a life insurance policy. That is the whole purpose of life insurance, to take care of your dependants after you are gone.

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As more and more insurance companies are operating nowadays, there are fraudulent companies claiming to sell insurance, as well. Thus, it is important that you need to be aware of suspicious companies that are possibly committing insurance fraud.

Insurance fraud does not mean only seller fraud. It can also refer to buyer fraud. As there are bogus companies that sell insurance, there are also bogus buyers that “buy” insurance. Seller fraud happens when the policy seller, or insurance company, takes control of the process in a way that maximizes profit. Buyer fraud happens when an insurance buyer “bends” the usual process in order to get more coverage or benefits.

Seller fraud has several variations, however they are all based on four basic types. A ghost company is a basic type of seller fraud where insurance policies are issued and the company accepts premiums from the policyholders. However, the company guaranteeing this policy is either illegal or does not exist at all. A ghost company is usually operated by scam artists who put high pressure on unsuspecting victims until they finally give in and get an insurance policy.

Another basic type of seller fraud is premium theft. Premium theft happens when an insurance agent accepts premiums from policyholders but does not submit it to the insurance company that underwrites the policy. With the insurance company not receiving any premiums from the policyholder, the insurance policy will then be considered invalid.

The other two basic types of seller fraud are churning and under or over-coverage. Churning happens when the insurance agent convinces a policyholder to renew, cancel or open a new policy in a manner that the agent benefits more rather than the policyholder. Under coverage or over coverage is similar to churning wherein the insurance agent manipulates the situation so that he ends up benefiting more.

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Since commercial mortgages have weakened, insurance companies have taken the role of lenders. In fact, in last year’s second quarter, $15.7 billion was underwritten by the industry of life insurance in commercial mortgages that are new. This is the largest volume recorded by the American Council of Life Insurers, and basically doubles the mortgage volume that has been underwritten in last year’s first quarter.

This opportunity for insurance companies came about because of the absence of activity coming from investment institutions and banks. Many banks on Wall Street were hit hard by the weak economy, which is the main reason why these major mortgage lenders have become quiet.

The reason most life insurance companies were able to continue business operations despite the weak economy is because they are normally conservative companies. Insurers normally favour high-quality borrowers and those who have trophy properties, and keep the volume of their loans on the balance sheets. On the other hand, investment banks group a majority of their issue bonds and mortgages against the loans. This in turn allows the investment banks to transfer the risks off the balance sheets and allow them to continue to underwrite, even those that are considered riskier loans.

Normally, investment banks would dwarf life insurers. However, with the economy’s weak, unstable state, it seems that life insurers have upped their game one level. With the lack of activity from investment banks, life insurers have less competition. This allows life insurance companies to offer a number of great loans for those properties that meet the companies’ guidelines.

In the current economic climate very few businesses have cash to spare and if they are hit with a lawsuit it could prove very costly for any business. However, with professional indemnity (PI) insurance a firm should be covered if the worst were to happen.

A lawsuit could result from any number of business practices including providing poor advice to clients, a breach of copyright or even something as simple as loosing data or important documents. The costs of these claims could cripple many firms but added to that is also the fallout of a damaged reputation so by taking out PI businesses would at least be covered. While every business strives to have the best service possible it is always best to have safety net in place.
What’s more for many professions professional indemnity insurance is a legal requirement and without it they could be in breach of their regulatory rules. These include solicitors, mortgage advisers, insurance brokers, financial advisors, accountants and architects. However, if a business provides any kind of advice or professional service then it is a good idea to get some kind of professional indemnity insurance. For example a lot of PR firms, designers and consultants choose to take out PI insurance so that they know they are covered.

It is also important to note that a lot of professional indemnity policies only claims that are made when the policy is live so if a business is closing for whatever reason it is a good idea to get run off cover to make sure that any claims made after the firm has ceased trading are covered. It is also advisable to get run off cover when you change insurers.