Why Should You Consider Online Term Insurance Plan?

Taking a term insurance policy is one of the easiest and most effective ways to protect your family financially from unexpected future scenarios. It is the most basic type of life insurance that covers you for a particular time period. And the premium of this policy is decided on the basis of the insured amount, age, the term of cover, habits, and gender. Owing to the advent of technology, now you can avail an online term plan without making the hassle of visiting the physical location of the insurance company. There are many reasons as to why you should invest in online term insurance and below we are discussing some of the primary reasons –

  • Enjoy Lower Premiums

According to some research, online term insurance policies tend to cost 40% less than conventional plans while the benefits and features of the plans remain the same. One of the factors that impact the cost is the elimination of an insurance advisor. Additionally, when things are handled online, there is a significant saving in overhead costs such as logistics, documentation, stationery, etc.

  • More Saving

When you buy online term insurance plan you are paving the way for more savings. Whatever money you save on buying insurance plan online can be invested in elsewhere, thereby increasing your saving potentials to a considerable level.

  • Quick and Secure

When you take online term plan, you can access a wide range of fast as well as secure payment options including debit cards, net banking, credit cards, etc. And, considering the payments are processed instantly via a secured gateway, there is more peace of mind. The overall payment process is quick and hassle-free. Additionally, once your transaction is completed, you will instantly receive an online receipt.

  • Easy Option to Compare

A majority of life insurance company today provide online term plans. So buyers have access to a pool of information that includes calculators, informative articles, educative videos, case studies, reviews, etc. Such extensive information allows you to learn about the features and benefits of different term plans in a more efficient and seamless manner.

  • Access to Valuable Tools

A majority of online insurance providing platform provides useful tools to assist you in determining the coverage amount you should opt for. Experts assess different factors and suggest you the exact coverage amount you should opt for. According to the experts, it is suggested that your claim should be minimum seven times of your overall annual income accompanied by a renewed every five years. Additionally, it is also important to consider your age, children’s expenses, existing liabilities, the standard of living, etc.

Taking term insurance is very important when it comes to protecting your loved ones from future uncertainties. When it comes to buying online term insurance plan, you have access to so many benefits like mentioned above. However, you should not merely rely on the premium amount to take your online term insurance policy. You may research different options and compare them against each other to determine, which ones align best with your financial requirements. And, similar to any other insurance policy, make sure to thoroughly read all the terms and conditions associated with the plan before you make the final decision.

How to Quest: Smart Ways to Utilize Your Disposable Income

The money that remains with you after you have given taxes and have taken care of the social security charges is what can be referred to as disposable income. The disposable income can be spent or saved as per your wish and preference, but it is ideally suggested by financial advisors and analyst to be invested strategically to secure your future financially.

For long-term wealth creation, it is essential that you take baby steps from the very beginning of your career. Putting away a part of your disposable income for investment and savings is vital so that you do not feel the financial burden later in your life. There is a way on how to go about it, and in this article, we would discuss the various ways you can utilize your disposable income.

Insurance As A Safety Net

The car is one of the most valuable possessions of every household, and you want to make sure that it is financially safeguarded. For instance,  let us consider you availed insurance from youi, and unfortunately a year later or so, you met with an accident or something. In such condition,  it would ensure that in case of any damage to the car in the event of an accident or otherwise, the insurance company would pay for the repair and for the medical expense of anyone who has got injured during the accident. It is best to take advice from experts to help you pick the right insurance products.

Build a Cash Cushion

Having ready cash available for emergencies and unforeseen life events is necessary. There are times when you need cash urgently, and such events can surface anytime without notice. Having ready cash put away from your disposable income would ensure that you do not feel the cash crunch when you need it the most.

Save For Your Kids’ Education

Education has become really expensive in today’s date, and going to a private school or joining a premier league university for higher education can cost a fortune. If you do not plan your child’s education in advance, you would be riddled with regrets later on. Start saving early for your children’s education, and starting a separate fund for your child’s education would be a good idea. Putting away a portion of your money, dedicated to your kids’ education would go a long way in meeting educational expenses later on.

Make a Recreation Fund

Everyone plans to get out of their normal routine life to enjoy their hobbies or go on vacation in their free time. In today’s world, it can be really expensive. Whether you plan to take that Europe trip with family or that romantic cruise with your partner, it would need a good amount of money. You can use your disposable income to put in for recreation fund, which would help you fulfil your wishes.

Invest in Stock

Everyone knows that diversifying investment portfolio is essential, but not many are able to achieve it. If you have disposable income, investing a portion of it in the stock market may reap great results in the future. However, it is essential that you do your research before investing in the stock market to ensure you do not suffer from unnecessary loss. Following the stock market closely would help you know the stocks that are profit-oriented in which you can invest your disposable income.

Buy an Investment Property

Depending on the amount of disposable income you have, you can even consider buying an investment property. There are many people who have purchased an investment property and given it on rent, which helps them with a subsidiary source of income. You can even choose to pay the down payment for the investment property from your disposable income and pay for the instalments through the rent you get. In due time, the property would pay for itself, and you would have an additional asset in your asset portfolio.

Pay Off Your Debt

If you have a consistent flow of disposable income month after month or year after year, it is a good idea to pay off your debt in a systematic manner. It also depends on the kind of debt you have. Ascertain your financial situation and if your debt is burdening you with high interest, paying it off would be a wise decision. Make a goal on how to clear off your debt with the disposable income and stick to it to ensure that you do not disturb the sequence.

Investment Portfolio

It is a well-known saying that you only get rich when your money is working as hard as you. Rather than being frivolous with your money, be responsible with it and invest in various investment products out there. There are numerous investment products, such as bonds, annuities, stocks, precious metals, and more, which you can invest in.

Consult a financial advisor if need be, but make sure that you combine the power of time and money to create wealth from your disposable income. It will help you fulfil your financial dreams and that of your family.

When and Where to invest,in this jungle of investment???

Many times we think about Should we invest Now ? Where to invest ? Does it matter lot in which investment avenue we invest ? Lets get a brief answer of all these questions…

Financial world has very important concept of Compound interest which is described as “the eighth wonder of the world” and “the most powerful force in the universe” attributed to Albert Einstein. Compound interest is the interest earned, not only on a loan or investment but also, on the interest previously earned.

Because of this compound interest, a delay of few years can dampen your returns like anything in long run. As the magic of the compound interest can be seen only in long run.

Let’s take an example to of 2 friends Nihar and Alpesh to understand the things. They both started working and joined company together at the age of 20.

Now let’s see first Case of Nihar

As Nihar understands the importance of investing early and benefits of compounding so he spends less money on entertainment and makes sure that he is investing Rs. 50,000 every year.

On this investment Nihar gets 10% return on his investment every year. At the end of 10 years, the accumulated amount is now Rs. 7.96 lakhs. (5,00,000+ 45000+40000+35000+30000+25000+20000+15000+10000+5000). However, due to some issues, Nihar is unable to save more money now but he doesn’t touch the accumulated invested amount. He keeps the amount (Rs. 7.96 lakh) as a fixed deposit in a bank at 10% interest rate till he gets retired at the age of 65. Nihar does not make any fresh investment. The interest keeps on accumulating on Rs. 7.96 lakh till 35 years. Finally at the age of 65 years, he gets Rs. 2.23 crore.

Now let’s see 2nd case of Alpesh

Alpesh spends a lot of money and doesn’t believe in investing early. He starts investing after 15 years when he is 35 years old and invests with discipline for next 30 years. He regularly invests Rs. 50,000 each year till he is 65 years old. Just like Nihar, Alpesh also gets a return of 10% per year. Now at the age of 65, he gets a maturity amount of just Rs. 82.24 lakh.


Yes, even though Alpesh invested 20 years more and Rs.12 lacs more than Nihar.Niharinvested regularly for only 10 years but Alpesh invested regularly for 30 years. However, Alpesh gets Rs. 1.41 crore less than Nihar. This is almost 63% less.

Therefore, it is important to invest early to get the benefit of compounding.
When we invest early in our lives, the amount keeps growing at a specific interest rate. At the time of maturity, it becomes a big chunk. This is because the growth in amount in later years is lot more, compared to the initial years.

Now we know early investment is very important to build huge money but the other important thing to build huge wealth is returns in long run. Even a difference of single % has huge affect on your wealth in long run.

We suggest to invest early and that too in best returns providing assets for long term. Invest in best stocks to buy as stock market gives highest returns. Stock Market can give returns ranging from 15–25% CARG depending on the product you selected. Now you will think what is the need to invest in stock market as in long term all assets gives fabulous returns because of compounding.

Then my dear let me clarify you one thing even a difference of single % returns in such long period makes huge difference lets understand this also with the help of example.

Now again assume Nihar and Alpesh started together and both invested together 1,00,000 for next 45 years. But now here there is slight difference in returns they are getting. Nihar invested in the 10% returns providing asset and Alpesh invested money in 9% returns providing investment i.e. difference of only 1%.

Now at the end of 45 years here Alpesh will get 57 crores andNihar will get 90 crores. Yes Just the gap of 1% in returns and difference of 36% in final amount.

Now after reading all this you must be thinking to invest as early as possible and as discussed above, stock market is the best returns providing investment option and one more thing in long run Stock market not only provides highest returns but that returns are with lower risk as risk reduces over the long term horizon.

Now which stock to buy in the jungle of so many stocks ??? You can invest in Indian Multibagger Stocks (stocks of the companies with small market share in their industry and which are expected to grow at abnormal rates) and you can also invest even in Value Stocks (Beaten down Stock of the companies that are market leaders in their industry).

Now as this investment is a deep subject so the new question comes is Multibagger Stocks or Value Pick Stocks ? It is not like which is better among both , as both are good but selection is made according to your risk return profile. If you have high risk return profile then go for Multibagger Stocks as these are high momentum Stocks and such companies looks bright initially but may fail even but Value Stocks are very safe kind of stocks for investors with low risk return Profile.

If you have good investment capacity then make investment in both the types of stocks, ratio depends on your risk return Profile and this will give you best investment plan i.e. (Multibagger Stocks + Value Stocks) more the risk taking capacity more proportion of Multibagger stocks and Vice Versa.

Ways to Save Money on Homeowners Insurance

Of all your financial responsibilities as a homeowner, insurance is probably the least expensive. Costing about a thousand bucks a year or more to insure your home and personal belongings, it is certainly an investment you shouldn’t be without. Be that as it may, finding any savings as a homeowner is a plus. If you’d like to reduce your insurance costs this year, here is a bit of advice:

Shop Around

The first mistake homeowners make is choosing the first insurance company to be recommended or pop up in search engine results. You should shop around first. There are a lot of companies that will give you a better price for the same amount of coverage.

Pay Annually

Insurance companies are always looking for ways to save their customers some money. One way they do this is by offering the chance to pay for the policy on an annual basis. You could save several hundred bucks in the process. If the deal is too good to be true but you don’t have the funds available, you can always take out a short-term loan to foot the bill. You can qualify for a personal loan when you have bad credit if you search reputable online lenders. Then you can pay the insurance premium at once and save.

Add Security

The more secure your home is the less the risk of someone breaking in or vandalizing it. If you’d like a deduction on your insurance to install a home security system. Check with your homeowners’ insurance company prior to making sure that you’re installing a qualifying system.

Burglaries aren’t the only disasters you can safeguard your house against. Should a storm or fire break out, this is also something your insurance provider will have to cover. You can add a sense of security and save extra money by making your house disaster-proof. Installing storm windows, enhancing the roof, upgrading old appliances, and other measures help to make your house less likely to be damaged in a storm or fire.

Bundle Policies

Chances are you’ve heard of bundling services like cable, internet, and phone, however, the same can be done with insurance. Depending on which company you’ve chosen, you can also add life, car, motorcycle, and/or boat insurance to get a discount.

Increase Deductible

Your insurance deductible is the amount that you’re expected to pay out of pocket in the event that you need to file a claim. You can save yourself a lot of money by increasing your deductible amount. Keep in mind, however, you’ll want to be sure you don’t raise it too high because should disaster strike in your house, nothing can be done to resolve it until you’ve paid the deductible.

You’ve invested a ton of money into your home and insurance provides you with peace of mind in knowing that it’s all protected. As you can’t get around paying this bill, it is best to find ways to reduce the cost. The above-mentioned suggestions can shave several dollars a year off your policy. Try one or all of them to increase your savings without compromising home protection.

Here is how to find a low-cost reliable auto insurance company

Do you need car insurance?

Have you been looking around for affordable options but to no avail?

Several auto insurance companies are competing to get your business. With an assortment of eye-catching policy options available, it becomes difficult to compare offers from different insurers and find the one that best fits your needs.

Mentioned ahead are a few important factors that you should take into account when finding a reliable and low-cost auto insurance company so you can get an affordable deal:

  1. ‘Low cost’ is different for everyone

No single auto insurance company can claim to be the low-cost option for everyone. The insurance company that is affordable for you might turn out to be expensive for someone else. It depends on various factors, primarily the salary and the state you live in.

One way to ensure that the low-cost auto insurance company that you are dealing with is actually offering you low-cost premiums is to look around.

A research conducted by NerdWallet found that drivers can lose up to $416 on average if they don’t compare insurance prices. Of course, you don’t want to lose that kind of money. Therefore, make sure to conduct an extensive survey before you deem an auto insurance company affordable.

  1. Find out what type of coverage do you need

Purchasing some type of auto insurance is an essential requirement for most states. The cheapest one available is liability insurance that covers you in case of an accident. However, this insurance does not provide coverage to your car.

If your state requires you to purchase a comprehensive auto insurance coverage plan, you will be covered at all ends. It will protect your car from animal collisions, accidents, fire, weather damage, vandalism, falling objects, and even if your car gets stolen.

Therefore, figure out which type of auto insurance coverage plan you need and then contact a company.

  1. Don’t forget to look for discounts

Auto insurance companies offer price breaks and discounts for several customers, including the ones who:

  • Use one policy to insure multiple cars
  • Pay the annual premium in one go
  • Have a car with safety and anti-theft features
  • Are associated with affiliate groups
  • Process documents online
  • Have a charge-free driving record
  • Combine their auto insurance policy with other policies


Despite these discounts, make sure to compare the final amount with other auto insurers.

  1. Do consider local insurers

It’s tempting to go for the most popular auto insurance company that has fancy ads and big offices. But you’d miss out on great deals if you don’t check out your small, local insurance companies. Usually, these companies have higher customer satisfaction ratio and lower costs.

  1. Prioritize payments of bills

Another research conducted by NerdWallet found that people who have poor credit scores usually end up paying higher car insurance rates than ones with a good credit score.

In most states, credit score is a major factor that directly affects auto insurance quotes. The exceptions include Massachusetts, California, and Hawaii.

Insurance companies claim that credit score shows people’s ability of filing claims. Therefore, it becomes a major deciding factor in setting the amount of your auto insurance premium.

The easiest way to get low-cost auto insurance is to pay your bills on time, improve your credit, and keep a track of your credit score.

  1. Pay-per-mile or usage-based insurance?

Mileage-based insurance is an ideal option for people who drive fewer than 10,000 miles per year. Esurance Pay-per-mile and Metromile are the prime examples of this type of auto insurance. The former is available in Oregon while the latter is available in 7 states.

Alternatively, usage-based insurance is suitable for drivers who have low mile usage. By getting this insurance solution, you give your insurance company the authority to check your mile usage. In return, you get discounts based on the time and frequency of driving.

The bottom line

Finding the right coverage for your vehicle is essential and comparing policies from different auto insurance companies will enable you to find the best one for your needs.

Gainsco auto insurance makes it possible for you to get low-cost insurance without any hassle. Want to find out about your options? Give us a call at 1866.GAINSCO.

Happy auto insurance shopping!

The importance of home insurance

When it comes to protecting your home, you should go further than making sure the locks are secure and you have a good alarm system. Home insurance is a way of protecting your home from uncertain occurrences and to make sure there are enough fund to cover unexpected accidents or other problems that may arise in your home.

“Home insurance may seem a like a monthly cost you could do without, but as most home owners will attest to, unfortunately there are times when things go wrong and you need some financial support from your insurance company,” said Battersea estate agent, Eden Harper.

The importance of home insurance

Insurance for different occupancy choices

Insurance is as important for you whether you’re a home owner, a BTL investor or a tenant. And, there are different policies for each situation to ensure you’re only paying to cover what you should be.

What needs to be covered by the occupant and/or owner depends on whether or not you live there, own the property or both:

  • Home owner-occupiers’ insurance needs to cover the building and the contents because they are responsible for every part of the property.
  • Property investors/BTL landlords need insurance that covers the building and grounds and possibly some of the contents, but not all of them.
  • Tenants need insurance to cover their own content and nothing more.

Making sure you have the right insurance policy for your situation can help ensure you’re only paying as much as you need to each month, which should help minimise your premium.

“Paying a monthly insurance premium that covers only what you need it to should help keep your monthly housing-related costs as low as possible,” said Reigate estate agent, Robert Leech. “It will also mean that any claims you make should be straight forward as your policy exactly reflects the property and your situation with regards to living there.”

Not just for your peace of mind

While a home insurance policy is there to give you assistance when unexpected problems occur with your home, its not just for your peace of mind. In many cases, mortgage offers come with conditions, one if which can be that you have the right home insurance in place.

The importance of home insurance

The reason? Just as home insurance helps you to protect your home, an insurance policy helps protect the asset your lender is invested in. If a major accident affects your property, that means the value of the property could be negatively impacted. If the value of your property is drastically lowered, then they may not be able to recoup the entire value of the mortgage they agreed to.

By having home insurance, you should be able to make any repairs to your home that are needed which should help it keep its value so that when the time comes to sell, your mortgage lender can be sure of receiving back the entire amount of the mortgage you still owe them.

“Without home insurance you could be in danger of invalidating your mortgage and also leaving yourself homeless, should the worst happen and that’s not a position anybody would wish to be in,” said Andrew Reeves. “Although it might seem like a monthly cost you could do without, you should consider that your home is your biggest asset and as such it needs protecting financially as well as physically.”

8 Tips For Staying Safe When Doing Home Improvements

Home improvement projects can be challenging, yet completely rewarding once the task is complete. We spend hours pouring over every detail of a project, but often neglect safety aspects we need to consider during the project’s duration. There are several things you can do prior to beginning your project to ensure everything goes as safely as possible.

1. Ensure Proper Ventilation

It is crucial to have proper ventilation when working on any home improvement project. Not having adequate ventilation puts you at risk of harmful paint or chemical fumes or sawdust. These substances in the air can make it extremely difficult to breathe and can have damaging effects on your lungs. Leaving the windows in the room open as much as possible during projects and placing fans or extractors in the window to pull air and chemicals are some ways you can ventilate a space during your project.

2. Use a Respiration Mask

If you are in a situation where proper ventilation is not possible, or you just want additional protection for your lungs, wear air filter masks or respirators. Working with asbestos, black mold, or other toxic dust, as well as noxious fumes, is extremely dangerous. Equipping a mask before entering a space and beginning a project is an excellent way to ensure our lung safety.

3. Use Safety Glasses to Protect Your Eyes

When nailing or cutting, we run the risk of having nails, sawdust, or other harmful substances and items ricochet or fly into the air. These items can have a damaging impact on our eyes, which is why it is extremely important to protect them. Wear safety goggles while working on projects to ensure your eyes are safe from harm. If you are working with chemicals, or in areas where there are flying objects, dust, and other particles in the air, wear goggles that have side shields to ensure complete protection.

4. Wear Work Gloves

Work gloves are an excellent addition for safety during home projects; however, they should not be worn at all times. It is important to wear safety gloves when handling rough materials. If you are working with glass, sheet metals, and rough woods you will want to wear them to avoid cuts. If you are working with tools you want to remove the gloves in order to have better control over devices. For handling rough materials, select gloves that are puncture and tear proof to ensure the best protection. If you are working with paints, chemicals, and other harmful liquids, wear thick rubber gloves to protect your hands.

5. Make Sure Your Ladders Are Safe

Before stepping foot on to your ladder, make sure it is still reliable. Using an unstable ladder is a recipe for disaster, especially when working in extremely high areas. Ladders need to be sturdy, have proper footings, and the steps need to be securely in place. Give each step a shake prior to using, and tighten up any loose steps when necessary.

In addition to ensuring your ladder is physically safe, it is important to make sure you select the correct ladder for the job. Use stepladders for lower jobs where you do not have to struggle to reach certain items or hold tools. Ladders are available in several lengths, so be sure to select one that allows you to work safely, at a reliable height, without exerting your arms or standing on your tip-toes on the ladder. Finally, ensure the ladder you select will hold you and your tools. Ladders are each designed to hold a specific weight limit and it is important for users to adhere to the guidelines provided.

6. Make Smart Choices with Electricity

Electricity is an important part of most home improvement projects. We often need electricity to power tools, light the area, and keep ventilation units working properly. Although extremely beneficial, electricity can be very dangerous if precautions are not taken on the job. Anytime you work directly with electricity, whether you are rewiring an entire room or updating a light fixture, you need to make sure the electricity is turned off before you begin. Some ways you can be safe with electricity are:

  • Shut off the breaker box completely to ensure no wires are live when handling.
  • Make sure you are replacing electrical items with equivalent parts to ensure they function properly.
  • Conduct wire tests before touching to ensure they are not live.

7. Select the Right Tools for the Job

In order to complete the job safely, it is imperative that you select the right tools for the job. Make sure you have a variety of sizes available for screwdrivers and wrenches in order to secure a proper fit. When working with power tools, review the safety instructions and directions to make sure you are using the machines correctly everytime.

When changing drill bits, router heads, saw blades, or other tool components, make sure the machine is powered off completely and unplugged before doing so. Faulty switches can cause machines to turn on while changing, which can put you in a dangerous situation. If you unplug the machine, you limit the risk of being cut or hurt.

8. Keep a First Aid Kit on Hand

Make sure you have an adequate first aid kit on your job site before beginning. The kit should be well stocked with items needed to tend to minor cuts and burns. Make sure your first aid kit is up-to-date and close by as you work.

By following these safety tips, you can minimize the risks you face on your job site. Properly venting an area, using adequate and reliable safety equipment, and following directions are some ways you can protect yourself and others.

5 Car Parts and Services You Should Spend Money On

While your car may not be an investment in the strictest sense, since most cars don’t increase or even maintain value over time, it can be considered an investment in your quality of life.B y allowing you more freedom in terms of where you can go and what you can do, a car can significantly increase your ability to live well. This is why you need to take care of your car.

While you don’t need to splurge on unnecessary vanity enhancements like spoilers or lift kits that add no value to your ride (and may actually take a dramatic bite out of it’s value) there are some parts and services you should consider a purchase. These are the things that will help preserve more of your car’s worth by prolonging its life.

Here’s what we’re talking about.

  1. Oil Changes

5 Car Parts and Services You Should Spend Money On

Oil changes often fall by the wayside of regular engine maintenance — but they’re incredibly important. Regularly changing you oil promotes engine lubrication, removes particles and sludge that will wear your engine down, keeps the engine cool to avoid overheating and improves fuel mileage. All of these perks will keep your car running smoother for longer. Don’t put it off: change your oil every 3 months, or 3,000 miles. That’s the general rule of thumb. Read your owner’s manual for the manufacturer’s recommendation.

  1. Car Seat Covers

auto, automobile, blue

One of the most overlooked ways you can preserve more of the resale value of your car is by using quality custom car seat covers. Spills, stains, wear and tear and the elements can really take a toll on your upholstery, and worn and damaged upholstery will significantly reduce your ability to get a good price for your vehicle should you choose to resell. Buying car seat covers that are custom made for your exact make and model of car is a great way to get sleek, stylish and perfectly fitting coverage that will protect your seats and more of your car’s value.

When selecting the right covers, consider your lifestyle. For example, if your lifestyle or career takes you outdoors  — or if you have kids or pets that are constantly spilling liquids in your car — consider waterproof car seat covers from My Custom Car. These will ensure your upholstery gets the best protection possible.

  1. Professional Detailing

5 Car Parts and Services You Should Spend Money On

There is only so much most of us can do to clean our cars. Sure, we can vacuum, clean windows, polish leather and vinyl and wash and wax, but most of us lack the equipment, skill and time to get a really thorough clean — the kind of clean that will make your car look, feel and smell like new. Professional detailers can get rid of really stubborn stains — including salt stains — from upholstery and flooring. They can even use chemical steam cleaning to get rid of black mould caused by moisture that can accumulate in the nooks and crannies of your car and cause respiratory issues.  

You don’t have to have your car detailed every month, but two or three times a year can do wonders to keep your ride in tip-top shape.

  1. Wheels

5 Car Parts and Services You Should Spend Money On

Never, ever cheap out on wheels. Buying good quality and season appropriate wheels for your car will help improve gas mileage, while also keeping you car literally on the road longer  — and not in a ditch. How often you need to change your wheels depends on a lot of factors, like road conditions around where you live/work, how hard you drive your car and how often you drive it. However, generally, you want to change your wheels every 25,000 to 50,000 miles.

  1. Insurance

5 Car Parts and Services You Should Spend Money On

OK, insurance is an obvious expense you need for you car, but one that many people don’t realise the value of until they need it. Get the best insurance you can, being sure to understand exactly what you’re getting for you money, and exactly what you may need. Don’t opt for the most basic option just because it is the least expensive. If you are on the road a lot, you are more likely to be in an accident or get a dent in a parking lot: get the best for your driving habits.

Don’t Expect Help from your Car Insurer if you Overload your Vehicle

There are too many readers who have always kept complaining about their insurance companies due to the non-payment of claims. However, before you start become judgmental about this and take this matter to the higher authorities, you need to understand what comprises in a car insurance policy and the contents of this policy. A contract or agreement between an insurance company and his client is called car insurance where the insurance company agrees to offer coverage on receipt of insurance premiums every month.

The policy of the insurance would stipulate few exclusions where the insurer won’t be liable to make any kinds of payments. Certain situations, peril, person, situation or condition isn’t covered in the car insurance policy. Usually, exclusions with regards to the car insurance would include overloading your car, utilizing your car in the form of taxi service or causing intentional damage to your car.

Overloading a vehicle poses increased risks

It has been found out by the US Department of Transportation that an average of 500,000 truck accidents occurs on the American highways and roads. What are the reasons behind so many accidents? Overloading is being cited as one of the main reasons and this can be taken care of by having onboard weighing systems from Such machines can help you measure the weight of the truck and make required adjustments before you set on the roads. Here are the risks that you will face if you overload your vehicle:

  • The truck will become unstable, you will find it tough to steer and bringing your truck to halt will take longer. Vehicles usually react in a different way when there is too much weight on it.
  • Tyres might get overheated and this can lead to wear-and-tear which boosts the chances of premature and expensive blow-outs.
  • The control of the driver and the space for operating in the vehicle is also reduced which in turn accelerates the chance of an accident.
  • When the truck is overloaded, it will find it difficult to accelerate and hence overtaking will become a distant dream.
  • While driving at night, the headlights will tilt upwards and this will have a blinding impact on the drivers who are approaching towards you and they won’t be able to see any obstructions or debris on the highway.
  • Due to riding of brakes, they have to work harder and since the vehicle is already heavy due to overloading, the brakes are often overheated. This diminishes their effectiveness.
  • When there is overloading in a vehicle, none of them use seat belts as their ultimate goal is to push in as many people as they can. This boosts the possibility of accidents.
  • The entire suspension system is under stress and eventually the weakest part of the vehicle gives way.
  • Insurance coverage on overloaded trucks will be considered as void as overloading is considered as illegitimate activity.

Therefore, now you can well understand that you won’t get any help from your car insurance provider if you meet with an accident due to overloading. Henceforth, check the weight through the onboard weighing systems before hitting the road.

Do I Have Enough Collision Insurance?

Car insurance is expensive – we get it. You don’t want to pay more than you have to. But you also don’t want to compound the challenge of an accident with additional expenses. Don’t pay for coverage that you never use, but don’t pay too little and end up paying too much out of pocket. Make sure that you have enough coverage if you are insured for collisions.

The Basics of Collision Coverage

Collision insurance covers you for repair bills caused by collisions. The plan does not cover you for thefts, explosions or damages caused by natural disasters. Receive coverage for all types of collisions that involve other cars and property. Truck accidents are the most expensive types of crashes, costing as much as $20,000 to $100,000 in property damages. And according to George Salinas, these types of accidents are on the rise.

The state has minimum requirements for car insurance coverage. In most states, you need liability, property damage and personal injury protection. This data gives you a good idea of the minimum coverage you need, but it’s a general plan, so many drivers get more coverage.

Determine the Car’s Value

Determine your car’s current value as you obtain collision coverage. Know if the plan covers the full amount of the car because many cars are totaled in collisions and cannot be repaired. The car’s value and your driving record affect the cost of your policy.

Compare Repair Costs vs. Insurance Coverage

Compare the average costs of collision repairs with the costs of insurance coverage to make sure that you are getting enough coverage. Consider the maximum amounts that you would pay for repairs if you ever get into a collision. Then, determine the maximum amount of coverage that the insurance company provides.

In a head-on collision, the entire front part of the car is damaged from the bumper to the windshield. Replacing a bumper costs an average of $500, and replacing a windshield varies from $200 to $1,000 on average. The prices vary based on the car’s make, model, age and condition.

Add up the repair costs and see if the total exceeds the replacement value of the car. In some cases, you should not extend coverage on your insurance. Save more money by replacing the car altogether. Some insurance companies offer a replacement if you did cause the accident.

Make sure that you are covered for collisions before one happens. Review the policy instead of having a claims adjuster contact you after an accident. By then, it’ll be too late once you discover that the insurer cannot pay for all of the damages. Before the accident occurs, get the full benefits out of your collision coverage plan.

Are Home-Sellers In Canada Required To Provide Insurance?

Many families looking to buy a home in Canada find themselves with questions about how insurance works and if the seller is required to provide it. While home sellers are not required to provide insurance in Canada, many will offer some sort of insurance as an added incentive for buyers, so be sure that before you make an offer on a new home, you clarify the insurance situation with the seller.

The Rules:

While home sellers in Canada are required to provide deeds, mortgage information, and current property tax bills, they are not required to provide insurance for the buyer. Home sellers will generally have homeowners insurance on the property until the day they move out as a precaution, so buyers don’t generally need to worry about damage to the house just before they close the deal. However, once the title is transferred, the former owner is no longer legally responsible for the property.

Why Some Sellers Offer Insurance:

It may not be required, but it isn’t uncommon for sellers to offer some type of home insurance that can be transferred to the new owner to make potential buyers more likely to make an offer. Many Canadian home sellers will offer home systems and appliance breakdown insurance, which is transferred to the new owner once the property sale is finalized. Home systems and appliance breakdown insurance usually applies for one year, and covers high maintenance costs for unexpected breakdowns or other problems to protect the new owners.

Insurance for Buyers:

It’s also important to note that if you’re buying a new home and getting a mortgage, you will be required to get homeowner’s insurance. This rule is designed to protect the mortgage lender in the event that the property owner defaults on their mortgage.

The bottom line for prospective buyers is this: because home sellers in Canada aren’t required to provide insurance, the best course of action is to inquire about insurance before you make an offer. It is all about getting in contact with the realtor. According to Calgary Listings, “enjoy the rewards of working with an experienced professional and receiving personal customer service.”

The realtor will ensure you have all the information necessary when going to buy a home including whether or not the seller will provide the insurance.

The realtor will also know whether or not the insurance can be transferred to you after the sale is complete; in some cases, sellers will be amenable to offering insurance if they know that it’ll make you likely to close the sale. Once you do purchase your new home, be sure to get homeowners insurance right away even if you aren’t taking out a mortgage, as once the title is transferred to you, you’re financially responsible.

5 Things To Know About Your Home and Property Insurance

Did you know that 63.7% of Americans owned homes by mid-2017? This is the around the same percentage in 1988. Homes may rising in cost, but just as many Americans purchase homes. Have you just purchased your dream home? Now you need to buy insurance for it. Here are a few things you should know about your home and property insurance.

Policy Exclusions

What does your home insurance policy cover? The last thing you want to hear when you go to file a claim is that your insurance doesn’t actually cover that. For example, most policies don’t cover earthquake and flood damage. To avoid any nasty surprises later, go through your plan with an insurance agent you can trust. They will help you understand the content of the policy document and exactly what it does and does not cover.

When to Stop Paying

If your bank initiates the foreclosure process, continue maintaining your home insurance. If you cancel your coverage, the lender will buy a force-placed policy for your property. Lender-placed insurance costs more than an insurance policy you purchase yourself, so if this happens, reinstate your old policy or get a new one. Present evidence of coverage to your lender, and ask them to discontinue their policy.

Replacement Cost

The replacement cost of a property may differ from its market value. Let’s assume the home insurance on your property covers up to $200,000, but that a disaster happens and in order to repair or replace your home, it’ll cost $250,000. Your insurance won’t cover anything more than $200,000, so you’ll have to take care of the remaining $50,000 yourself. Home insurance policies often cover more than the market value of the property for this reason.

Your Home’s Cash Value

Sometimes a disaster strikes and you choose not to replace your home. In this situation, the insurance company would write you check for the home’s cash value. But how do they know the cash value? They start at the replacement cost of the home, and then deduct the depreciation of the property. The remainder is the cash value. Don’t confuse cash value with replacement cost. Replacement cost stays the same, even as property depreciates over time, so if it’s been 10 years since you purchased your home, your home’s cash value could be tens of thousands of dollars less than the replacement cost.


If an accident on your property harms other people, you could be found liable. Fortunately, home insurance policies often cover this types of situations. One thing to note, however, is that a force-placed policy covers less than a regular home insurance. It doesn’t provide coverage for your personal property. Creditor-placed policies also don’t offer liability coverage, so if anyone gets hurt, that’s on you. If a lender ever tries to repossess your home (whether through your permission or not), continue making insurance payments so you can guarantee you’re covered for situations like this.

When it comes to insurance policies, being keen is essential. Knowing these five things will help you avoid trouble in the future. After buying home insurance for your property, keep up with payments and you’ll be covered for just about anything—except for those pesky exclusions.