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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.



Three Advantages Of Having Mini Dash Cams Installed In Your Vehicles

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With the ever-increasing amount of people on the road these days, more and more accidents occur. If you wind up involved in an accident, having an in-car camera installed will protect you from wrongful blame when you’re not at fault. However, that’s not the only reason for putting a dashboard camera in your car. There are several other advantages of having mini dash cams installed in our vehicles. Below I have listed a few of those advantages.

Insurance Premiums

Installing a dashboard cam can prevent your insurance premiums from rising. Drivers have started using the video from these cameras as an independent witness to prove who is at fault after accidents. You will now have rock solid evidence of any collision or other incident should you need it. Right now there are no insurance companies that offer discounts on premiums for adults that install dash cams. However, there is one company that discounts premiums for young new drivers that have them. This brings me to the next advantage on our list.

Teen Safe Driver Program

A company known as American Family Insurance has started a Teen Safe Driver Program where they give new teenage drivers a free mini dash cam for one year. Included in the program is driver coaching and education for helping them be better drivers. The camera that the company provides records inside and outside of the vehicle when it detects swerving and sudden speed decreases or increases. The recordings are then sent to the driving coaches through Wi-Fi where they can grade the teen drivers on a weekly report card. Parents can review the report each week by logging in and checking the videos and grades. By participating, teens get a ten percent discount on their premiums. Therefore, not only are these cameras allowing lower premiums for teen drivers but they also help parents keep an eye on their children’s driving. All the while, making our teens better drivers and making the roads safer to drive.

Crash for Cash

This is similar to the reasoning behind the insurance premiums. A dash cam protects you against scammers that intentionally have car accidents to extort money from their victims. It has become such an epidemic that it now has its own nickname. This dangerous stunt has become known as, the “crash for cash” scam.

You can find thousands of dashboard cam clips on YouTube. The reason is incidents are commonly caught on tape. They’re usually caused by a person doing something that is less than ethical. For example, one of the most popular dash cam videos shows a guy that runs in to the road and starts acting like he was hit by a car. The funny thing about it though, is that the car had already come to a complete stop before the guy ever came in to the road. Who knows what would’ve happened if there hadn’t been video evidence to prove that the guy was faking? Considering the cost at risk of not having one versus the cost of the cam itself, the advantages of having mini dash cams installed are obvious.

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Instant Auto Insurance – Assistance With Obtaining the Most Affordable Rates on the Market

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When people think of auto insurance, the first thing that hits their mind is the cheapest insurance, something that is reachable and feasible for them. While cost is an important consideration, there are other factors which determine the selection of auto insurance.

The best place to start searching is online; internet provides abundant information on insurance. You can input your location details, the state, and area code and look for closest insurance outlets. The quotes might be lucrative in some of them while plain and simple in the rest. Once you are convinced with the insurance quote, you need to do an advanced search on the services offered by the agency.

• Did you know the make and model of your car, the mileage of your car, the safety features, and the anti lock brake made a difference to the actual insurance cost? Well it does and the upkeep of your car largely determines the price you need to pay for the insurance.

• Your driving history is yet another important factor that decides the cost, fewer the tickets you have got, cheaper is the insurance you pay, more the tickets on your driving history, more is the insurance you pay. So you see how insurance cost is directly proportional to your driving history.

• Credit history is no less important when it comes to determining the auto insurance.

If you think you have a safe history, go ahead with the insurance features. Speak to the insurance provider and get the details of the terms and conditions. Read in between the lines of the policies and every detail of the insurance coverage, it varies from state to state, so do not assume anything on your own. Make sure the insurance agency has a legal permit to practice trade in your state.

You might be interested in cheap insurance but not at the cost of compromising with coverage features. How well does the insurance cover the accidents, theft, liabilities, roadside assistance are important factors to be considered. Bonus and drivers discount might be an area of interest as well. Keep you eyes and ears open and get the best deal available in the market and drive peacefully without any worry.

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Compare Allstate Insurance Quotes – Using Reviews to Compare Insurance Quotes

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The number of options when it comes to choosing insurance companies can be overwhelming. There are more than a handful of insurance policy providers ranging from the small institutions to the top corporations. If you are looking for a reputable and affordable insurance policy, then you may have your work cut out for you. One way to start narrowing down your options would be to get quotes from your potential choices and compare them. One popular choice for insurance is Allstate Corporation. Start narrowing down your options – compare Allstate insurance quotes with rates from other companies.

Established in the 1930s, the Allstate Corporation is a Fortune 100 company. It is one of the nation’s largest personal insurers. It has around 130 billion US dollars in assets and markets 13 lines of insurance which include life, commercial, property, and auto insurance. Other products offered by Allstate include investment products, banking services, accident forgiveness, deductible rewards, new car replacements, and retirement plans.

With Allstate, you can easily get a quote specifically tailored to your situation from their website. Simply visit their website, refer to the designated area for online estimates and complete the form giving all the necessary information. You will initially be asked for the zip code of your locality asked to provide other details such as your name, age, gender, date of birth, and marital status. Once you have completed the form, you can then get a tailor-fit estimate generated based on the data you have provided.

Another way to get an estimate from Allstate is through their toll free number. You can talk to an agent and obtain an approximation on the rates you will have to pay through the number provided on their website. Once you have the estimated rates, you can start to compare Allstate insurance quotes with rates from other companies.

If you are still apprehensive about purchasing insurance from Allstate, you can also refer to the reviews the company has received from its clients. There are several testimonials that you may refer to online. It is generally recommended, in locating reliable testimonials, to go to websites other than the company’s own website. This way, you have a semblance of certainty that the testimonial is not biased. You may then use these reviews to compare Allstate insurance quotes. A good insurance provider will have good and proven track record amongst its clients. All you simply need to do is verify if Allstate has been able to satisfy their clients by providing quality and affordable services.

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Motivation Words – Inspiring Words For Successful Insurance Presentations

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For successful insurance presentations to routinely occur, the buyer must feel highly moved by a combination of inspiring words and motivation words. Unless you possess this self-made muscle to effectively inject penetrating motivation words and inspiring words, your prospect will be hesitant to commit to a purchase. Find out how commanding insurance presentations are prepared word for word and not just copied.

COMPARISON TO A PREACHER Preachers and religious mentors have a distinct commanding advantage over you. They attended a university where a hefty portion of the curriculum was distinctly devoted to mastering the man-made power of motivation words and inspiring words. They seamlessly interject their sermons to fire up the emotions of their attendees. Because of intense emotional buildup their listeners, without objection hear every word as the undisputed truth. The preacher does not ask, “Do you want to go to heaven?” Instead, he hammers the nail down by saying, “Do you choose the fiery coals of Satan’s enticing trap of worldly sins or the eternal bliss of God’s wondrous paradise?”

Admire the people-power of a preacher to use motivation and inspiring words to achieve his desired results. These are similar to the word power principals used in successful insurance presentations. Plain talk is overruled by transparently interjecting inspired words by a skilled authority (you). Your prospect is transported by your magic carpet ride into a wanting to buy mood. A quick, no-cost unrivaled challenge lesson would be to listen to an evangelist speak, while jotting down remarks and interpretations on reference cards.

YOUR MOTIVATION WORD TEST Of this list of twenty-five motivational word phrases, choose at least five, and reconstruct them into sensational, and inspiring insurance presentation sentences or questions. Here is your motivation phrase words list: Ease the pain, don’t be like most people, a company you can trust, ask yourself this question, dreams come true, make the move, avoid feeling insecure, long lasting benefits, best opportunity ever, helping people like you, built for life, how to live your dream, chance like no other, if you are serious about, close the gap, incurring 3rd degree financial burns, covers all the bases, instant gratification, deep burning desire, kiss the past goodbye, developed by experts, mastering your destiny, lock in your benefits now, and maximize your potential. Now take the challenge of champions! Simply boggle your mind a little, and write five more motivational or inspirational sales presentation sentences.

NEED SOME EXAMPLES? Here are 5 additional key selling phrases: According to my clients, your were selected, I’m not going to trick you, investing in yourself, and let’s talk strategy. Of course, I have no wizardry writing powers. Nevertheless, I will illustrate putting these into sales presentation sentences within a period of less than 5 minutes. Here it goes.

1. According to my clients, many are concerned about problems an extreme financial hardship disability would cause, do you feel this way also?

2, You were selected from my list of concerned people because of wanting to know more about how medicare supplement insurance can erase the pain of unexpected bills.

3. Unlike inexperienced insurance agents, I’m not going to trick you. Buying long-term care insurance helps cover the portion of bills where your other assets (like your home equity) are insufficient.

4. When you buy an annuity, you are investing in yourself and your personal financial future.

5. Let’s talk strategy, would you prefer the lowest cost term life insurance policy, or coverage that might cost more now and stays affordable as you get older?

All right, get down to the nitty-gritty and kick out successful sales presentations that will knock your prospects socks off.

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3 Ways Annual Travel Insurance for Family Holidays Saves Money

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Many families make early plans for their holidays for the entire year. This not only allows them to manage their finances better, but it also gives them ample time to prepare should they need to make changes in their itineraries.

If your family travels together or goes on a trip at least twice a year, getting travel insurance for family members in one package (rather than individually) is a wise move. Many people think that this might turn out more expensive, but with the right considerations and strategies, you can save a lot of money with the policy you choose.

Time and Cost Effective

Wise people take the time to really know what they want from their insurance cover; this is certainly advisable, so you know exactly what you are getting and paying for. Purchasing individual policies is time-consuming and a lot to think about, so when you multiply the time and effort to the number of members in your family, it could get extremely frustrating! This is why buying travel insurance for family members in one package is so much easier and more convenient. Many companies offer policies that already cover the basic needs of the entire group, and it’s usually at a discounted price so it will come out cheaper than getting individual policies.

Some Policies Offer Free Coverage for Children Under 18

Buying a bulk package for the entire group may sound like you’ll initially need to spend a lot of money – however, it doesn’t have to be that way. One strategy of providers to promote packages is to offer attractive deals – such as free coverage for children under 18. This not only allows you to save a lot of money when purchasing travel insurance for family groups in which there are children, it also provides you with more comprehensive coverage – such as increased cover for baggage loss and flight cancellations.

Getting Covered Early Shields You From Subsequent Changes in Policy Rates

Travelling multiple times a year doesn’t mean you need to get a separate policy every time you decide to have a holiday. Obtaining travel insurance for family groups that’s good for the entire year not only saves you time, but it usually also turns out much cheaper. Just like any other business, providers make changes in their policy rates but if you get a good deal at the beginning of the year, you may save even more money than you imagined.

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Understanding Action-Over Claims for the Contractor

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Ask a few contractors. They’ll nod their heads in agreement: Contractor insurance seems to cost more and more, particularly in states that side with the laborer. Ask an insurance agent and you’ll get an earful about the causes.

Some state legislature in regard to labor disputes are predisposed to the worker. It’s for this reason that insurance companies will end up paying more in defense and liability costs if there is a worker that gets injured at your site. And it’s for this reason, the premium is higher.

General contractors operating in these places, as well as property managers – among others like them that hire subcontractors – need to think about getting another form of insurance in regard to worker accident liability. While it’s true that this insurance, known as action-over claims, adds to already high premium costs, in the event there’s a third-party injury claim and the commercial general liability policy excludes this type of claim, coverage means everything.

Action-over claims insurance protects you if your worker or the subcontractor’s worker incurs injury and then collects worker comp benefits – and then targets a liability claim against the property owner who then casts the liability back to you.

Action-Over Claim – What it Means

Here’s an example that may help explain the insurance idea.

Do-All Property Management Company put its signature on an indemnification agreement provided by an apartment complex it was assigned to oversee. The agreement meant all job risks were the responsibility of Do-All.

It so happened that a painter slipped off his ladder. The accident resulted in a serious breakage of both legs. The painter needed money right away to take care of expensive doctor bills, hospital stays and loss of income so he filed a workers compensation claim with his boss – Do-All’s subcontractor.

Now, the painter needed a venue for further compensation. He knew that suing his boss was out of the question because he had already collected workers comp benefits from him. He was advised to file a multi-million lawsuit against the apartment complex owner. Once the apartment complex owner was notified about the suit, he contacted Do-All Property Management who as per the indemnity agreement was now responsible for the liability.

In the event Do-All had the foresight to include action-over claims coverage with his commercial general liability policy, there would be protection and peace of mind. On the other side of the coin, in the event there was an action-over claims exclusion on the Do-All business policy, the management company would find itself in ‘hot water’ with the need to pay total out of pocket third-party charges.

To find out more about this important coverage for the general contractor and industries like him or her, contact an experienced independent agency.

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