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7 Ways to Reduce Your Insurance Costs

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1. You must shop around for your insurance coverage

Blindly staying with the same company year after year will rarely, if ever, result in the best coverage for the best rates. I suggest that you bring in 3 agents each year, or at least every two years, to review your insurance needs, recommend coverage, and provide costs.

I would bring in a regional independent agent, a major independent, and a carrier’s agent directly. By doing this you are accomplishing a number of things. First, you are shopping for the best costs. But, secondly, and as importantly, you are seeking to find out what coverage each will recommend. This will help you find out if your current coverage is adequate, if you are over covered, or under covered. If all three companies recommend the same levels of coverage then you are probably safe. If two of the three recommend higher or lower levels of coverage than you have then you better find out why and see if you agree.

You do not need to be an insurance expert as long as you deal with someone who is. You want to avail yourself of their expertise and by undergoing this process at least every two years this is exactly what you will be doing. You want each to give you a complete written proposal including recommended coverage, explanations for these recommendations, and costs for each. Without costs for each area of coverage, you will have no way to effectively evaluate one company against another and you will lose the option to pick and choose policies for different areas of coverage from one company to another.

Remember, you do not need to have all your coverage with one company. In fact, unless the individual costs are all best with one company, or unless one company has a special package plan for your type of business, you probably should not keep all coverage with one company.

There is no reason why you can’t have business coverage with one company and auto coverage with another, etc. In fact, unless you are being given significant discounts for doing so, the only reason that would cause you to buy all coverage from one company, even though some policies may costmore, would be laziness or convenience which is often nothing more than another form of laziness.

I know of one company who had not undertaken a competitive review of their insurance for over 20 years. When they did they saved themselves $30,000 a year or almost 15% in this case.

2. Make sure you are not over insuring

It will do you no good to insure something for $100,000 when the replacement value is only $75,000. The agent and company you more than they have to. They will not rebate premiums if you have overvalued something and therefore over insured.

It is up to you to know the value. If you cover equipment for $10,000,000 maximum at replacement value and the total replacement value is only $5,000,000 that is your problem. You should know or have a darn good idea as to the real replacement value. The opposite of this is also true, do not underinsure. Make sure you know whether you are insured for replacement value.

This is an area where a lot of gray area exists. This is one more good reason for conducting annual reviews. By conducting these you will get opinions and advice from a number of different sources and an inconsistency is much more likely to surface. Remember, do not just ask agents and companies to provide bids on current coverage but to evaluate your operation and recommend coverage and provide costs.

3. Ask your agent what you can do to reduce your insurance costs

They won’t tell you unless you ask. By asking you are expressing concerns over costs. Dissatisfaction over costs should be construed by the agent as a sign you are going to look elsewhere for coverage. The agent suddenly has a great incentive to try to reduce your Business Cost Control.

4. Look for agents or carriers that specialize in your type of business

Start by asking any association you belong to for suggestions. Also, ask competitors, suppliers, and even the Chamber of Commerce. If special plans exist for your type of business you should be able realize significant savings due to bundled types and levels of coverage. You will find that needed levels of coverage are built into the plan and that if purchased separately they would cost you a great deal more each year. I was able to save over $1,200 a year by finding a plan designed to cover companies in my industry.

A note of caution however, just because an agent tells you they are offering a great plan for your type of business don’t assume this is true. You should still get at least three quotes. The agent with the special plan may be just calling it that to sell you when indeed it is not that special at all.The plan may be designed for your type of business but it is overpriced, or contains elements that might be germane for most types of businesses in your industry but are not needed for your business at all.

5. Make sure that your insurance covers replacement value not current value

It may seem that you are saving money by covering for current value but if you have a claim and need to replace the lost or damaged equipment you will quickly find out that you have been very short sighted. The current value will in most cases be a fraction of the cost you will need to replace the item. Don’t cut corners in this area. Make sure you have replacement value or at least coverage equal to what the cost of very good used equipment would be.

6. Remember, premiums are just another name for payments

Your goal is to control these payments; buy only what you need, and get the best value for your purchase. Request written recommendations on coverage and costs and make the agent justify these recommendations to you. Insurance agents are sales representatives. Insurance is their product. Don’t forget this. Plain and simple, like any other purchase you consider they should justify this purchase to you.

7. Whenever you have a claim get your own estimate

Don’t do what most companies do and just take whatever they tell you the claim is worth. This is not an open and shut case;just because they say so, does not make it so. By securing your own estimate you can either verify the insurance company’s estimate and know you have a fair settlement or you can disagree with their costs and fight for a higher settlement. If you just accept their estimate you may find the actual loss involved to cost more, much more in some cases.

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Finance

Hazard, Risk and Insurance (Part 2)

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Every human action can cause a risk. This risk depends on a variety of actions a person does. In terms of insurance, risk is the possible loss that a person could experience and the dangers posed by the possibility of something happening but not knowing when and what will happen. To deal with these risks we need preparation and proper protection. Hence the importance of insurance more visible when a person afflicted with calamity, even if the disaster did not want every person.

Not counting how many losses to be borne by society due to the disaster happened. So be thankful, if you have take out, do not need to be confused to find money to repair damaged houses or cars that had stalled due to flooding. Simply add a claim to the insurance company, then you will get compensation.

Risk Forms

1. Pure – This forms if there will cause the loss or does not cause loss ( breakeven ). Example: Risk of Fire, Casualty Risk.

2. Speculative – That may cause the loss occurred, does not cause loss or profit ( gain ). Example: Production, Monetary ( Foreign Exchange ).

3. Fundamental – Risks in case of impact can be very large losses or catastrophic nature. Example: War, Earthquake, Air Pollution.

4. Special (particular): Risk that if it does, the impact of losses is local, not comprehensive or not catastrophic. Example: Fire, Accident, Theft.

Risk Management

1. Risk Identification

This stage is to identify the risks faced by any human being either personally or risks faced in the process of business activities.

2. Risk Evaluation

1. The frequency is rare, the impact of low loss / small
These risks need not be insured because it rarely happens, and if there is a low impact / small.

2. The frequency is rare, the impact of high losses / major.
This risk needs to be insured and insurance companies are still willing to close / cover this risk

3. Frequency is used, the impact of low loss / small.
This risk classification is identical to 1, which needs to be done is prevention so that does not happen often.

4. Frequency is used, the impact of high loss / large.
In this risk is the opposite mindset between the client and insurance companies. Customers want this risk can be insured, but insurance companies may not receive because the frequency it happened often, and the impact of losses is also high.

Risk Control

1. Financial Control

Buying protection insurance by paying an insurance premium ( Customer Transfer The Risk Of Insurance Companies ). Bear their own costs such risks, the impact of weakness if the loss is high enough to threaten the business activities.

2. Physical Control

Eliminate risk. But this is not possible because of the risk will always exist and may occur, so that needs to be done is that the risk minimization, minimize the risk by providing incident prevention equipment and complete response equipment to deal with risk.

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Bid Farewell to Your Worries With Non Owner Auto Insurance

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Planning for a fun-filled trip in a rented car? Non owner auto insurance is the prime thing you need to plan before you can begin to plan your clothes! It is a known fact that driving to various destinations is an integral part of our lives. Accidents, too, cannot be neglected at all. Every one understands that driving involves a great amount of risk with the ever growing traffic on the bustling streets. Many a times, while borrowing a vehicle from friend or kin you ensure that complete care is taken. However, the chances of an accident cannot be completely denied. No matter how dear you are to your friend, paying the bills for the damage is something no one loves!

What if you are provided with complete coverage of the accident? Sounds interesting and relieving? Well, this kind of insurance policy offers you the benefit of claiming insurance for the vehicle that you do not own! If you are already feeling secure about the whole thing, then there is more for you. This insurance not only covers the damage to the vehicle but also provides you medical insurance, in case there is an injury. If you are the kind of person who tends to rent a car often, this insurance is something that you must grab and fetch the benefits.

Another major category of people who can definitely benefit from the insurance is the people who are into driving vehicles professionally for a company or an individual. In this kind of job, the frequency of driving is very high. At the same time, the exposure to high risk of accidents is inflated. Non owner auto insurance plays a significant role in case of any mishap. Dealing with the consequences in such a situation is much smoother with the insurance and medical coverage benefit you get. It is true that one needs to be extremely cautious while driving a vehicle, whether it is your own or someone else’s However, a policy like this can prevent you from getting into a tight spot.

If your life revolves around renting or borrowing cars and driving them for various reasons, investing into this kind of insurance policy can keep you free of worries. Although it may not be one of the most popular insurance policies amongst the rest of the insurance related to automobiles, it serves a great purpose and is one of the most essential requisites in today’s life. No matter how safe you are as a driver. It can be someone else’s fault that can cause some serious damage to the vehicle.

Prevention is always better than cure. Opting for the policy is a very wise decision to save yourself from shoveling out huge amount of money. If you are hearing about this policy for the first time, it is not your fault since most of the companies dealing with insurance do not highlight the non owner auto insurance and its benefits. As an individual involved in driving cars that do not belong to you, finding out more details about such policies is definitely your job. Lead a peaceful life and let the owner of the car breathe peacefully too!

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Tanzania Camping Budget Private Or Joining Safari Explained From Monkey Territory to Tsetse Flies

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Tanzania Camping Budget Safaris Private or Joining are still the real Authentic African Safari. Firstly we would like to inform you that some of the campsites in Tanzania National Parks especially in Lake Manyara and Tarangire National Park are outside the Parks.

This is because the camping ground inside the Parks are not safe.

There are so many elephants and tsetse flies in Tarangire during seasons of the year and in Lake Manyara to many monkeys. You can loose your food of 6 days safari in just five minutes and there is nothing you can do because you are inside of the monkey’s territory.

The Animal Kingdom. Here nature rules and human demands are not a priority!

For Tanzania Camping Budget Safari we normally use both 4 x 4 Land Rover / Land Cruiser / Minibus depending on safari schedule and season’s. Most of our clients prefer to use Land Cruisers in dry season and Land Rovers in wet season between April – June each year.

This is because Land Rover is always four wheel while driving in the mud, but the Land Cruiser you need to engage the four wheel when you need it. Also the Land Cruiser is easier to get stuck because of the rear springs while the Land Rover does not so easily get stuck because all front’s and rear tire’s are protected by coil springs.

Animals are normally drinking water early in the morning and late evening. Such activities is possible to see either in Lake Manyara or Serengeti National Park. Serengeti is a lot more better because it is allowed to do very early game drives even before breakfast. It is possible to include walking safari especially for those people who are doing private safari.

This is charged direct or if you insist we also include in the price. Of course we will indicate the cost separate for those who are doing joining safari. Not all clients want to do walking safari. The walking safari can be arranged in the campsite i.e., Twiga Camp / Fig Tree Camp / Zion camp and Popo Camp in Lake Manyara and Tarangire.

We normally take 4 people in normal Land Cruiser or Land Rover of 6 setter for those who are doing camping safari and 6 people in an extended vehicle of 8 setter. We reserve other rear seats for extra camping facility i.e., mattresses, blankets, tents, and bed sheets.

TANZANIA CAMPING SAFARI SAMPLE ITINERARY

DAY 1: Arusha-Tarangire

You will be picked up at around 0900am and depart to Tarangire National Park for the Game drive.Tarangire is most spectacular during the dry season when thousands of animals migrate into the park from the surrounding dry Maasai steppe, to use the permanent water supply of the Tarangire River.

You can see herds of elephants, numbering over a hundred. Tarangire is also renowned for its tree pythons, which are easily seen. The animal population in the dry season rivals that of the Serengeti with wildebeest, zebra, eland, hartebeest, buffalo, gerenuk, fringe eared Oryx and flocks of birds of many different species.

Prime game viewing is between July through November.

The famous and giant baobab trees dot the park, their branches looking just like roots. Some of the baobab trees are over 300 years old. Legend has it that a displeased god turned them upside down at the time of creation. All meals and overnight at Zion Campsite.

Approx transit time Arusha – Tarangire 1 hour

Meal Plan: {L,D}

DAY 2: Tarangire Park – Lake Manyara National Park. Breakfast at around 0700am. Depart Tarangire at around 0800am for Lake Manyara National Park, famous for its tree climbing lions and large flocks of flamingos.

The park contains five distinct vegetation zones and is of scenic beauty. Picnic Lunch will be served in the Park/Hot Lunch at the camp. Afternoon Game drive in the Park. Late afternoon to Twiga campsite for dinner and overnight.

Approx transit time Tarangire to Lake Manyara 1hour

Meal Plan: {B, L, D}

DAY 3: Lake Manyara National Park – Serengeti National Park. Breakfast at around 0630am. Depart for Serengeti with lunch en route. On arrival, proceed for a game drive. The park covers 12,944km2 of open plains making it one of the largest in the world.

The rocky outcrops commonly known as Moru kopjes in the eastern part of the park are of scenic beauty and occasionally cats can be seen lazing on them.The park contains vast herds of wildebeest, zebra, gazelle and other antelopes. Dinner and overnight at Seronera Campsite.

Approx transit time Lake Manyara to Serengeti 5 ½ hours

Meal Plan: {B, L, D}

DAY 4: Serengeti National Park – Ngorongoro Crater rim. Very early Game drive in the vast Serengeti plain. Breakfast at 0900am. After breakfast, depart Serengeti and drive to Ngorongoro crater rim with Game drive and Picnic Lunch en route to Ngorongoro Simba campsite where you booked for the night full board.

Approx transit time Serengeti National Park to Ngorongoro Simba campsite 3½ hours

Meal Plan: {B, L, D}

DAY 5: Ngorongoro Crater – Arusha. Breakfast at around 0600am. Take Picnic Lunch with you and drive 15 minutes into the Ngorongoro Crater floor for the Game drive. View the various resident animals on the crater floor.

The largest unbroken caldera in the world, Ngorongoro has an area of 260 kilometers and a depth of 610 meters. The crater provides a protected habitat for thousands of mammals and birds. The entire day is spent on the crater floor viewing lion, hyena, wildebeest, zebra, black rhinoceros, and many species of small antelopes.

The Ngorongoro Crater Conservation Area is located between the Serengeti and Lake Manyara. It is home to the famous Ngorongoro Crater which is the largest unbroken caldera in the world. The Crater is a spectacular setting in which to experience your African safari. Some scientists maintain that before it erupted, Ngorongoro Crater – the largest intact caldera in the world – would have been higher than Mount Kilimanjaro, the highest point in Africa.

Covering a mere 260 square kilometers (100 square miles), the 600 meter (1969 foot)-deep Crater is home to a permanent population of more than 30 000 animals. It is one of the few places in Africa where you stand a very good chance of seeing the Big Five (lion, leopard, buffalo, rhino and elephant) in the course of a game- drive.

The local Maasai have permission to graze their cattle on the Crater floor, and it is not unusual to see Maasai cattle and buffalo grazing together with lion mere meters away. There are around 1000 lions in the Crater, approximately 20 black rhino, and the spectacular Lerai Forest is one of the best places in Africa to spot leopard. This is one of the natural wonders of the world.

Picnic Lunch in the Crater. Afternoon before 0430pm drive to Arusha where you will be dropped at your hotel of your choice.

Approx transit time Ngorongoro to Arusha 3½ hours

Meal Plan: {B, L}

END OF SAFARI

COST:

Joining rate – 799$ per person maximum 4 people.

Private rate – 1020$ per person minimum 2 people.

What is included

Fully supported camping safari for 4 nights with meals as shown in the itinerary, park entrance fees, transportation in a 4 x 4 vehicle to Tarangire Park, Serengeti Park, Lake Manyara National Park, Ngorongoro, English speaking driver guide, crater fee, safari transportation in a private vehicle.

What is not included

The price does not include international flights or departure taxes, personal insurance, visa fees, vaccination costs, personal clothing and equipment, all items of a personal nature and all alcoholic drinks, gratuity / tips, Meals unless specified above, and shuttle transfer’s.

Source: www.ZanzibarMagic.com

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