Rising Car Arson And Insurance Fraud Costs Everyone

Due to the recent economic slowdown which is evidenced by every indicator (except the ones George Bush uses) car and SUV owners with payments they cannot afford are turning to arson to break their debts. This isn't new, however as car arson (or torching) and insurance fraud have been going on for decades.

The problem is that it is now seen in direct correlation to the economy. When the economy is positive, the level of insurance fraud tends to taper off. When the economy experiences a slowdown or negative growth (George Bush would probably call this a lull or some other four letter word) people find them selves with debts that they can no longer afford and are trapped in. As times get more desperate, the higher the number of people willing to burn or have their vehicles burned and risk getting caught.

During the last two years there has been a marked increase in car arson and insurance fraud in every state from California to North Carolina. Yes, there are cars that were really stolen, vandalized and then burned, but there is a marked difference. In cases of true theft, the thief is usually trying to remove anything that could link it back or identify themselves. In the case of a intentional burn in insurance fraud, the arsonist will attempt to make the car become rendered totaled (so far gone it cannot possibly be fixed). Usually, arson investigators will find accelerants were used like gas and other flammable liquids.

Due to this increase in car arson and insurance fraud cases, arson task forces have ben set up in many counties. In California they have even linked new and used car dealership personnel as instigators in many arson cases. Someone comes into the dealership overloaded with debt and wants to get out of a high car payment by trading in their car or vehicle. They find out they are "up side down", a term referring to the fact that they owe much more than their car is worth. The salesperson or similar employee, realizing money can be made, refers them to a local arsonist and the car is then burned. There have been numerous published cases like these and they are growing.

The problem here is four fold; people are being sold cars they can't afford, they aren't taking the proper responsibility for their debts, they aren't properly schooled on debt, and the result is an increase in insurance costs for everyone. These can all be fixed. In California numerous consumer protection laws have been passed which obligate the dealer to be more responsible, but more needs to be done like enforcing maximum debt ratios. There should be standard education in secondary schools on debt and money management. If we can offer classes on home economics (cooking), marketing, and UFO's, Madonna, etc... (just look at a Cal Tech class list), then we can offer or make mandatory a class on debt and money. According to many experts like Suze Orman and Anthony Robbins, debt, money, wealth, and happiness can all be learned and taught. A class on debt and money management should also be mandatory for all politicians (Could you imagine how great are economy would be if George Bush envisioned America's economy as his own and tried to cut the national debt instead of tripling it?) Debts are obligations we create and there are legal ways out of debt. Car arson and insurance fraud hurts everyone, not just those who commit it.

Renters Insurance 101 Explained

If you rent a home or apartment instead of owning a house outright you may not think you have a need for insurance or believe that it is even available to you for that matter. The truth of the matter is that regardless of whether you own or rent it is a good idea to have insurance and even if you rent instead of buy you can qualify for insurance; it is known as renters insurance and it can be a safety net you can't afford to miss.

At a minimum renters insurance will cover your personal property such as furniture, clothing and electronics in the event of theft, fire or natural disaster. Renters insurance may also provide protection for you in the event that someone is injured while at your residence.

There are several options available with renters insurance which can give you a lot of flexibility depending on your needs and how much you want to spend on it.

Personal property coverage will cover just your personal property in the event there is damage related to fire, hail, smoke, vandalism, lightening, plumbing, etc. This type of policy will also cover your personal belongings in the event you are the victim of theft. In order to take out this type of policy you will fix a value on your property and the policy will be written for that amount. Make sure you determine an accurate value for your personal property or you may find yourself undercovered in the event of the unexpected.

You can also take out personal liability protection which will protect you in the event that you are sued due to an injury incurred by someone while visiting your residence. This type of policy will cover related damage as well as relevant legal costs. The minimum for such a policy is usually $100,000 and will cover injuries or damage that is occurs while at your residence or that is caused by you, your children or pets.

Another type of policy you may wish to consider is known as additional living expenses. In the event that you can no longer live in your rented residence because of a hazard that is covered under the policy, this type of coverage will pay up to 20% of the contents coverage amount in order for you to pay additional living expenses. This would include hotel costs as well as meals, laundry, etc. until your residence is ready to be re-inhabited.

An improvements coverage allows you to apply up to 10% of your contents coverage in order to either replace or repair items that you redecorated or altered before a covered hazard occurred.

In the event that you're held legally responsible for fire damage to your place of residence, a fire legal liability policy will protect you.

It is important to be aware that you are usually liable for deductibles with renters insurance just as you would be with any other type of insurance coverage. You can adjust the deductibles in order to lower the cost of your premium, which may make the policy more affordable.

Find Life Insurance Online: Preparing to Request a Quote

You are now in the third step of your quest for affordable life insurance. By now you should have decided whether you want a term life insurance policy or a whole life policy or a combination of both.

You should also have determined the amount of coverage that you will need to properly cover your situation. Now you are ready to start getting quotes to find out more specifically what your options are.

The first thing you should do is get together all of the information you will need to answer all the questions so that you can get an accurate quote. Some of the information you need will be obvious; your name, gender and age are the standard information to start a quote. Most companies will also want contact information; phone number and address.

In most cases they will also request some information that might not seem so obvious if this is your first time requesting a life insurance quote. In many cases they will also request your height and weight. With this information they will calculate your Body Mass Index and if this number is outside of what is considered the norm you may find that you have to pay a higher premium. The reason for this is that it has been medically proven that overweight people have a statistically higher rate of many disorders that increase the risk of an early death.

You will be asked if you smoke, and frequently how often and how much alcohol you drink. The reason for both of these questions should be obvious; it is a well-documented fact that cigarette smoking is a contributing factor in many life-threatening disorders. Excessive alcohol consumption is also well known to lead to some serious health complications.

You may also be questioned about your line of work. This can also affect your rate if you work in what is considered a high-risk industry. The insurance companies consider you to be at a higher risk of accidental death.

They may even enquire about your hobbies and activities. If you regularly participate in what are considered to be high-risk activities you might be looking at a higher premium. Some things that they may consider high-risk activities are: rock climbing, skydiving and hang gliding.

The next area that you can expect to answer a lot of questions about our past health issues. Don't think that just because you have not had any health issues that you are safe, they will also ask about your family health history at least two generations (grand parents) back.

They will want to know if you have suffered from seizures, cancer, heart disease, diabetes, liver dysfunction just to name a few. They will also need to know your family health history for many of the same disorders. You will be asked about any major surgeries, including when they happened and what they were for.

If you personal or family health history could be an issue or if you participate in activities that are considered risky you might be tempted to be less than truthful on your application. Resist the temptation; any failure to honestly disclose your health history and life style could put your pay out at risk when your family needs to collect. You could end up leaving your family completely unprotected if you are not honest on your application.

Get your information together and be sure that you have the answers to all the most common questions and then it is time to start finding a quote.

Insurance For The Self-Employed

If you are self-employed, then you are often at greater risk of having unpredictable income or having periods without any work at all. If this happens, then you might not be able to keep up with your financial commitments. Also, being self-employed means that you need to take into consideration all the types of business insurance that are usually taken care of when you work for someone else. If you are self-employed and are not sure what type of insurance you need, then this article might be useful to you.

Revenue protection

Perhaps one of the most important insurance types that you need if you are self-employed is revenue protection insurance. If you work for yourself then it can be harder to maintain a steady income, and you have no one but yourself to fall back on. If you have revenue protection insurance then you are covered in the event that you have an accident or fall ill and cannot work. This will help to keep you financially stable during tough times.

Business property

If you have a dedicated business property, then it is important that you have adequate insurance to cover the property and its contents. If anything should happen to your property or its contents then you need to have adequate cover to recoup the cost of replacing everything. If you don't have adequate cover you may find yourself with a large repair bill or even the closure of your business.

Business equipment

Even if you have a limited amount of business equipment, it is important to make sure you have adequate cover. If you are a sole trader and work just from a computer, then make sure you have full insurance on your computer and that you can get it repaired or replaced very quickly. If this is your main business tool and you are not covered for it you may find yourself temporarily out of business.

Public liability

If you have premises or are in contact with the public during your business life, then you need to have public liability insurance in place. This covers you against claims in the event that a person or their property is injured because of your work or whilst on your premises. If you don't have public liability insurance then you could be left with an extremely large bill for compensation that you cannot pay. Also, many customers and businesses will not work with you unless you have adequate public liability insurance in place.

Goods in transit

If you are involved in shipping or transporting goods of any kind, then it is important you have insurance that covers their damage or loss. If you don't then you could lose a lot of money should anything go wrong. You should also make sure that you have adequate insurance for yourself if you need to travel on business.

Seek advice

If you are unsure about what level of cover you need and which types of insurance you require, then consult an independent financial advisor who will be able to point you in the right direction.

A Guide To Business Insurance

If you have a business, then it is important to get the right level of insurance to protect your business interests. Without the proper level of insurance your business could be in serious trouble if anything unexpected should happen. Here are some tips about how to get the right business insurance for your needs:

Required by law

There are a number of types of insurance that businesses must have by law. The main type of insurance that is legally required is employer's liability insurance. This type of insurance protects you from any claims that your employees might make for accidents or sickness that they suffer whilst at work or as a result of work. Some businesses are not legally required to have this insurance, but if you have insurance then it makes sense. If anything should happen to any employee you could be hit with a massive compensation bill if you are uninsured.

Another insurance that is often required is motor insurance. If your company has any vehicles then you are required to get at least third party insurance to cover any damage to property or other people. It is usually advisable to get comprehensive insurance for your vehicles in case they are damaged or stolen. Although it costs more, it could save you a lot money in repair bills.

Liability insurance

If you are selling products to the public or have a large number of non-employees using your business premises, then you should consider public liability insurance. This type of insurance will cover you in the event that anyone is injured by your product or hurt at your business premises. The cost of this insurance will vary depending on what products you sell and the size of your premises

Building insurance

If you have dedicated premises for your business, then you need to make sure that the building and its contents are insured. If you rent the building then the landlord should be insured for the property, but you need to make sure that the contents are fully insured. If an accident should occur and you don't have adequate cover then you could lose money.

Key man insurance

A business relies on its key employees to make it successful, so you should think about insuring yourself and other top employees against health problems or accidents. Getting health insurance for your main employees will not only make sure that they can get back to work as soon as possible, it will also give them a sense of belonging to the company. If the type of work you are involved in has the potential for accidents to occur, then getting adequate insurance to cover this is important. Obviously working on a building site is going to lead to higher premiums than sitting behind a desk.

Reducing your premiums

Reducing your premiums is a good way to save money for your business. The best way to reduce the risk for the lender and so reduce the price of insurance is to make your business a safe and secure one. Make sure that security systems are up to date, and that health and safety procedures are adhered to.

Using a broker

The easiest way to obtain business insurance is by using an insurance broker who has expertise in your particular business area. They will be able to help you find the right insurer for your needs and get you a good deal.

What Is RV Insurance?

RV Insurance is an insurance policy that you buy covering your recreational vehicle or motor home. The policy can include not only liability insurance, but also full replacement cost in the event of an accident. Other items that can be included are personal effects coverage, emergency travel expense, and towing expense. While this may sound very expensive, RV and motorhome insurance is not as costly as you may think. However, to find the best quote, you must shop around and do your homework, rather than just accept the first quote that you receive. Of course, this type of due diligence can be a little time consuming, but it is almost always worth the effort.

It is recommended that you have collision coverage for any RV that you drive on the open road, as accidents can happen anywhere and without warning. But you need to ask about what kind of collision coverage you are getting. For instance, if the entire RV is destroyed or excessively damaged beyond repair, how much will you receive for it? If you don't have a policy that provides for replacement cost, you may wind up receiving a much smaller settlement that will be inadequate for buying another comparable RV to replace it. Replacement cost coverage typically costs more, but can be invaluable in the tragic event that you need to use it.

Recreational vehicle owners need also to consider personal liability insurance that covers not only a personal injury claim resulting from an on the road accident, but an accident that may arise while you are parked in a campground. Most RV insurance policies have the former, but many lack the latter. Consider what can happen while you are at a park or campground. Suppose someone slipped and fell coming out of your RV while it is parked, or was injured in some other way. Freak accidents do happen. It can be a wise decision to have the added coverage that provides for just such situations.

Also examine what is included in the personal property damage clauses of your RV insurance policy. The standard amount of property damage coverage is often inadequate and wouldn't even begin to cover all of your valuables and possessions in the event of a major accident. If you carry a lot of expensive items with you as you travel, as most RV owners do, you may find that that there is enough of an allowance provided by your insurance coverage to replace them if they were destroyed. Oftentimes increasing this type of coverage is not very expensive; why not ask your insurance agent about it and see what is offered?

Finally, be sure to inquire about any and all discounts that are available to you as a motorhome owner. Many RV insurance companies will offer discounts for good driving, for non-smokers, for anti-theft devices, for buying other types of insurance through the same company and more. It is always wise to ask and see if you can get quality RV insurance coverage for less.

How To Avoid Insurance Scams

Although there are many very honest and excellent insurance companies and agents, there are also some who want to take away as much of your money as possible whilst giving you little or no real cover. It is important that you know about some of the various insurance scams and how to avoid them, as this will save you money and also give you the peace of mind that you are covered should anything happen and you need to claim.

Misleading policies

Perhaps the biggest insurance scam to avoid is being suckered into buying a policy that you do not really want or that does not give you what you have asked for. This sort of scam is often the hardest to avoid, because it is not just a case of people tricking you on purpose. You can also be the victim of insurance sales people who simply do not listen to your needs and do not have the right expertise to help you. If you are offered a policy but it seems confusing or not what you want, then do not sign for it.

Claims denied

One problem that people find when they use a poor insurance company is that when they need to claim back off their insurance their claim is denied. Some insurance companies simply do not have the money to pay out your claim, and hope that you will never need to claim for such large amounts. Before buying any type of insurance make sure that you research the insurer and confirm that they can and will pay out for eligible claims.

Unnecessary clauses

One problem that many people have is that they end up with an insurance policy that gives them cover for things that they have no use for. For example, you might get some travel insurance but end up paying £15 more for it because it includes extreme sports cover. Many insurers use the technique of including everything that you may or may not need and hope that you won't query these items. Make sure that before you sign any agreement you look at what you are covered for, and if there are things you know that you do not need then get them removed. This may help you get a lower price for your insurance.

Too much small print

Another way that insurers can trick you is by putting the important issues of your insurance in the smallest print possible. These insurers hope that you will not read this small print or will overlook something that is making them extra money or leaving you without cover. Again, check all of the clauses in the contract, especially the small print. If there is anything you do not like then get it changed or do not sign.

Insurance you do not know about

One of the most frequently used ploys is to sell you insurance that you do not even know you are paying for. This is usually done by lending institutions that include payment protection insurance in your loan payments without your explicit knowledge, meaning that you pay for insurance that you might not want or even need. If you get a loan make sure you are not paying extra for insurance that you do not need. If you read through things carefully and seek good independent advice then you won't be caught out by these insurance scams.