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Motorcycle Insurance


Of course, nobody is ever likely to shed too many tears about the tough life of the average insurance company. Even so, it may be worth bearing in mind a few facts about their view of life – it may help you to benefit through more cost-attractive and suitable motorbike insurance solutions.

Insurers and risk

The insurance industry, including motorbike insurance, is primarily about risk.

When you pay your annual motorcycle insurance premium, you are effectively paying the insurer to share the risks inherent in your use of your bike.

Insurers will typically be willing to do so, as it is, after all, why they are in business.

Of course, they require you to pay them for the risk they are taking and that means they have to decide just how much risk you and your bike constitutes to them.

Once they understand that, they may be able to put a price on that risk and that becomes what is known as your insurance premium.

The effect on your pocket

Clearly, the higher risk you are perceived to be to a provider of motorbike insurance, then typically the less cost-attractive your premium may be.

If this sounds to be glaringly obvious, what may be less immediately apparent is that the reverse of this may also typically be true – i.e. the lower risk you are seen to be, then the more cost-attractive your premium may be.

What this means is simple – any steps you are able to take that result in a perceived reduction of risk, may typically result in more financially interesting premiums.

Your options

If you are keen to drive down the cost of your motorcycle insurance, you may wish to think about some of the following:

  • downsizing your motorbike to a more modest machine;
  • cutting down on the number of miles you ride each year;
  • avoid parking your bike on the public highway and if possible, garage it or park it on your driveway instead;
  • fit some of the numerous additional security features that are now available in the marketplace;
  • accept a higher voluntary excess on your policy (this is the amount of money that you undertake to contribute as the first part of any future claim);
  • improve your experience levels by passing an advanced motorcycle rider’s test.

Using these sorts of techniques may never make you feel that your motorbike insurance can be described as being cheap but it may make it that little bit more affordable.



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Posted Wednesday, November 16 2011 12:50 PM
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Most patients ignore doc's advice


Most Americans aren’t healthy—and they aren’t getting any better not following the advice of their primary care doctors.

According to a TeleVox Healthy World Report, “A Fragile Nation in Poor Health,” three out of four Americans (83 percent) admit they don’t follow treatment plans they’ve been given by their doctor exactly as prescribed. And health care professionals aren’t quite as forgiving. They say 95 percent of patients fail to comply with treatment plans as prescribed.

According to the National Consumers League, nearly three in four Americans don’t follow doctor’s orders for taking prescription drugs, a problem associated with 125,000 patient deaths each year. One in three patients never even fills the prescription. Others forget to pick up their drugs from the pharmacy, skip doses, take their pills at the wrong time or take an incorrect dose.

And most patients find it even more difficult when it comes to suggestions about changing their lifestyle to improve overall health and quality of life.

What’s the reason? Patients have plenty: They don’t feel they have adequate information about their condition or medication; they experience side effects from the medication which causes more symptoms than the illness; they start to feel better and assume they don’t need any more treatment or they think the medicine is simply too expensive.

And though the survey reveals most health care professionals believe with proper motivation and coaching, the majority of patients will take necessary steps to do what’s required to become healthy, doctors aren’t giving their patients enough support.

Half of health care professionals believe their job begins and ends with assessing the patient’s current state of health, prescribing and explaining treatment plans, and monitoring patient progress during regular office visits. Only one in four practitioners believe it’s their job to keep patients on track with their treatment programs between office visits by sending them ongoing reminders and alerts to take medication, check blood sugars, eat right and exercise.

And more than half of health care practices say they don’t communicate with patients between visits to provide care. They don’t currently send patients reminders to adhere to treatment plans, take medication as prescribed, check blood sugar levels or follow prescribed exercise routines, though most patients say they would like more encouragement from their doctor.

“For the most part, patients are expected to ‘go it alone,’” report authors wrote. “Sure they go to the doctor who takes a bit of time to review the patient’s current state of health and provide a brief consultation, which typically leads to a prescription for medication and some advice about adopting a healthier lifestyle. The patient then goes to the pharmacy to fill the prescription and that’s where the physician’s support typically ends—at the very point treatment begins. That’s the gaping hole in the system.”



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Posted Wednesday, November 16 2011 12:49 PM
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Car Insurance Claim


Making a car insurance claim is usually seen as a big hassle and people generally dread the possibility of making a car insurance claim. There are generally two major reasons why people hesitate from making car insurance claims if the claim is a small one. The first reason is because when they have to re-new their policy, they may have a negative mark on the previous policy and this would make the new policy slightly more expensive. This means that if the investor has a history of having been involved in accidents previously then the insurer would charge a higher premium rate to the investor by deeming the driver more likely to getting involved in car accidents.

Another reason why people do not claim their car insurance is because people generally do not find it an easy process and fear wasting time and energy in running to and from the insurance offices. This is the reason why people who get involved in minor road accidents do not generally make insurance claims.

The myths busted:

Though people feel that claiming insurance is a difficult and lengthy process still it is a fact that people who get involved in car accidents and make their insurance claims have to face a less tough time when it comes to getting their vehicle repaired. The insurance claim is that amount which a person receives in return for the premium that he or she has already paid over a period of time. Hence a person should not fear claiming the money that they have been so regularly saving.

A car insurance claim amount may come in the form of a boon for someone who has been involved in a car accident and along with the repairs to the car there are hospital bills also that require to be paid. In such an emergency the monetary help that is received in the form of the car insurance claim amount is a major relief for the person who has been in an accident situation. Car insurance claim should not be seen as a hassle just because one has to go to an insurance office to make the claim. The claim process can be made easier by approaching an agent so that all the nuances of the process can be understood and the claim process can run smoothly and without any major delays.



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Posted Tuesday, October 04 2011 8:07 AM
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Customer Satisfacation with Home Insurers Improves, Says J.D. Powers


Customer satisfaction with homeowners insurance companies this year is up from 2010, but still remains below levels achieved in 2009.

Overall satisfaction with homeowners insurance companies averages 769 in 2011—improving by 19 points from 2010, according to the J.D. Power and Associates 2011 U.S. National Homeowners Insurance Study.

The study examines five factors: policy offerings; price; billing and payment; interaction; and claims. While satisfaction has improved in all five factors from 2010, the greatest gain occurs in the interaction factor.

Despite these gains, customer satisfaction with homeowners insurance companies remains below satisfaction with auto insurance companies, which averages 790 in 2011, according to the J.D. Power and Associates National Auto Insurance Study, published in June.

While customer satisfaction with homeowners insurance companies rebounded from 2010, it still remains below levels achieved in 2009. Similarly, among auto insurance policyholders, satisfaction has improved notably from 2010.

While satisfaction also increased in all five factors among auto insurance customers, one key difference has emerged between homeowners insurance customers and auto insurance customers in 2011. Among homeowners insurance customers, those who bundle more than one policy with their insurer are notably more satisfied with price than customers who do not bundle policies. Among auto insurance customers, the opposite is true—those who hold only their auto policy with their insurer are notably more satisfied with price than those who bundle policies.

Among homeowners insurance policyholders, those with flood insurance tend to be significantly less satisfied with their policy coverage, compared with policyholders who opt not to carry it, according to the 2001 survey.

Fewer than one in 10 homeowners insurance customers in New England and the Mid-Atlantic states report carrying flood insurance prior to Hurricane Irene. A higher proportion of policyholders in the Gulf states—more than 25 percent—carry flood coverage either through their homeowners insurance company, state flood plans or another provider.

Among homeowners who carry flood insurance, overall satisfaction with their homeowners insurance company averages 735 on a 1,000-point scale in 2011. In comparison, satisfaction among homeowners with earthquake insurance coverage averages 766.

“So far, 2011 has been a tough year for the property insurance industry due to the occurrence of multiple natural catastrophes—ranging from tornadoes in the southern U.S. in the spring, to massive flooding in the Midwest, to the recent earthquake on the East Coast, followed by Hurricane Irene—which have driven home the necessity among many U.S. consumers of having adequate homeowners insurance coverage,” said Jeremy Bowler, senior director of the insurance practice at J.D. Power and Associates.

According to Bowler, while many homeowners may not give much thought to their insurance under normal circumstances, the moment they have to file a claim, the value of coverage becomes realized. The study finds that customers who have filed a claim tend to be more knowledgeable about their policies—and also more satisfied—than those who haven’t had a claims experience.

“Unfortunately, the majority of homeowners affected by Hurricane Irene were not covered for flood damage, and many may find their claims denied,” said Bowler.

The study finds that approximately 16 percent of homeowners insurance policyholders indicate they carry less coverage than would be required to fully rebuild their home in the event of a total loss. Among these policyholders, satisfaction averages 739—more than 40 points lower than among policyholders who say they have sufficient coverage.

 



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Posted Wednesday, September 28 2011 3:11 PM
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