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Business car insurance, technically called commercial auto insurance protects a business from the cost of a car accident.

A flower shop, for instance, may have a commercial van to deliver flowers to customers. If, during the course of running a late delivery, the van runs into a car, truck, or motorcycle, the flower business may have to pay property repair costs and medical injury expenses because of the accident. Without insurance, the business will be in legal trouble for not meeting the states minimal commercial liability requirements, and by underinsuring, it will be in financial trouble. However, with the right commercial auto insurance, it will be legally and financially protected.

Different Types of Commercial Auto Insurance

A business that owns commercial vehicles, like passenger cars, delivery vans, and commercial trucks, must invest in buying commercial auto insurance. Although the state only requires minimum liability insurance, it would be advisable for the business to also consider collision insurance, comprehensive insurance, and underinsured motorist insurance.

Commercial Liability Insurance

In the United States, there is no standard commercial liability insurance requirement because this will vary from one state to another.

In Alaska, for example, the state requires:

• 50/100/25 split liability coverage.
• $50,000 bodily injury protection for each person.
• $100,000 bodily injury protection for each accident.
• $25,000 property damage protection for each accident.

By comparison, Montana is almost liberal in its requirements, only asking for a 25/50/10 split liability cover.

Advice on Meeting State Requirements

In working to meet state requirements, there are essentially 3 steps to take:

1. Consult an auto insurance company selling commercial auto insurance or consult the state department insurance website.
2. Over insure, rather than under insure. It costs only a little more, but it can save thousands, if not tens of thousands in expenses.
3. Carry a 100/300/100 split liability cover after reviewing the net worth of personal and business assets.

Collision Coverage

Commercial vehicles are well protected with collision insurance, which covers the cost of repairs after an accident.

This coverage includes more than just a collision between two vehicles. It also includes collision with stationary objects like a wall, a road sign or a mail box.

Comprehensive Insurance

Comprehensive insurance is less specific than collision insurance, not focused on accidents alone, but covering costs associated with less tangible events that can also damage a vehicle. It covers natural causes of damage like bad weather conditions, storms, and earthquakes. It also covers intentional, man-made causes of disaster like vandalism or theft.

Commercial vehicle insurance is recommended for busy and densely populated cities and towns where there is a likelihood of theft or an act of vandalism. It is also recommended for places where storms, extreme weather conditions, or natural disasters are prevalent.

Underinsured and Uninsured Motorist Coverage

Underinsured motorist insurance and uninsured motorist insurance, as the name implies, protect a business financially when an accident involves an underinsured or uninsured driver.

If, for instance, the commercial vehicle has an accident that results in $25,000 worth of repair expenses, but the other driver is underinsured, carrying only $12,500 in property liability insurance, this leaves the business $12,500 short of what it needs for necessary repairs for their commercial vehicle. Instead of having to pay the expense out of pocket to resume business operations, the underinsured and uninsured motorist coverage will take care of the outstanding $12,500.

Insurance for Commercial Fleets

A commercial fleet is usually defined as having 25 or more vehicles, and there are three insurance options to consider:

1. Submitting a cash deposit to the states department of motor vehicles.
2. Obtaining self insurance. This means setting aside money to meet state minimum liability requirements for vehicle-related expenses.
3. Obtaining a surety bond.

Of course, the final authority on the insurance requirements for commercial fleets rests with the states department of motor vehicles. They are the ones who can provide the most reliable information on cash deposit options, self insurance, and surety bonds. The fact is that not every state accepts these alternative forms of insurance.

How to Save Money on Insurance

Although a commercial insurance policy will increase the cost of doing business, it is a necessary expense because it meets state requirements and provides financial protection. However, there are specific strategies that a company can use to reduce costs while not compromising on coverage.

Three of the most effective cost-cutting strategies are choosing a higher deductible, choosing an alternative payment option, and choosing a personal payment provider.

Let us look at these in some detail.

Cost-Saving Strategy 1: Choosing a higher deductible.

A business must pay a deductible when it purchases a business insurance policy. A deductible is the sum that has to be paid before an insurance company will consider an accident claim. The higher the deductible chosen, the lower the premiums will be. This could mean savings on annual insurance expense if the company generally has a safe driving record. However, it also warrants that money be set aside in a special savings account to meet the deductible should the need arise. This strategy can go awry, however, if a company chooses a higher deductible than it can set aside funds to meet. This will result in a company not being able to pay for repairing a damaged vehicle after an accident.

Cost-Saving Strategy 2: Choosing an alternative payment option.

A company can save money by choosing from several payment options.

For instance, it can save money by:

• Paying the commercial insurance policy in full, thus cutting out expenses related to administration costs and interest fees.
• In addition, some insurers also offer an additional incentive for paying the commercial insurance policy in full: a discount of 10%.
• Paying with an electronic funds transfer (EFT), thus savings on administration fees. An EFT payment means the insurance payment is auto-deducted from the company’s business bank account at a predetermined date.

Cost-Saving Strategy 3: Choosing an alternative payment option.

By using the same provider, a company can earn a discounted rate for loyalty. This strategy, however, needs to be tempered by periodically checking auto insurance quotes to ensure that another insurer is not offering even better rates for the same amount of coverage. Pricing structures in the insurance industry are always in flux, and today’s bargain quote can be tomorrow’s highest cost.

Don’t panic this isn’t some sort of poor financial or insurance related joke, more of an article to address the common misconception that insurance loss assessors and loss adjusters are one and the same. I always thought this was a paranoid feeling that we in the claims recovery business have, but it turns out that it extends into the wider world. So in this article I intend to look at the fundamental differences between insurance loss assessors and loss adjuster and hopefully help people to understand these differences – indeed you or your business may one day need the assistance of a insurance loss assessor and understanding their role in insurance claims can mean the difference between your business perishing and your business surviving.

If you are the victim of some kind of disaster either on a personal level at your home or at your business – a disaster such as fire, flood, and theft, water damage from damaged pipes or more extreme cases such as gas explosions or a hurricane – you will need to be aware of the difference between an assessor and an adjuster. Wherever the disaster occurs you are going to want to return to normal as quickly as possible, either having your business up and running and providing an income for you or having your home fixed so you can return to normal life. Understanding the fundamental differences between loss adjusters and loss assessors can ease this process.

What is a loss adjuster?

When you contact your insurance company to put in a claim they will immediately assign a loss adjuster to the case. A loss adjuster works for the insurance company and, as the name suggests, will adjust the claim accordingly. Because the loss adjuster – in essence – works for the insurance company they will ensure that the insurance company pays out as little as possible within the confines of the law. The loss adjuster will investigate the case (interviewing you and any possible witnesses alongside checking records and the extent of your liability in the disaster) and negotiate the claims payment.

What is an insurance loss assessor?

Whilst the insurance loss assessor carries out similar duties to the loss adjuster the main difference is that the insurance loss assessor works on behalf of you, the claimant. The insurance loss assessor will use their knowledge experience to ensure that you receive an adequate financial settlement form the claim – which will give you the funds you need to get your life or business back on track.

So whilst there is a wealth of similarities in the work that the loss adjuster and insurance loss assessor carry out, understanding that one of them can work with your interests in mind can make all the difference if you happen to be the victim of some catastrophic disaster – and that’s no joke!

Wayne Barker writes for Harris Balcombe, the UK’s foremost Claim Recovery Specialist. Harris Balcombe specialise in fire insurance claims, flood insurance claims and business interruption insurance claims.

You have just arrived at the airport and are now in line at the car rental agency. You want to hurry up and get on with your vacation. Before you can do that, however, you need to figure out what type of car rental insurance you want to sign up for. This can be very confusing. However, if you know the following ten things that it can be a lot easier to figure out what car insurance to get.

1. Your personal car insurance usually covers rental cars. If this is the case then you do not need to purchase other car rental insurance because you are already covered. Check your policy before you make a decision about getting rental car insurance.
2. Your credit card may or may not come with automatic car insurance. If it does, it is usually loss damage waiver insurance and you typically have to decline other coverage for it to kick in. The credit card may not insure certain types of vehicles such as luxury SUVs. Read the details about this carefully before you go on a trip so that you can decide whether or not you want to take advantage of this option.
3. International car rental may not be covered by existing coverage. In other words, if you typically rely on the protections from your own auto insurance policy and / or your credit card you want to make sure that this coverage applies to international travel.
4. Existing coverage may not cover certain types of trips. Long term car rental and car rental for business travel sometimes also aren’t covered by personal car insurance and / or credit cards. Again, check carefully.
5. The two most common options are loss damage and liability. If you do decide to purchase car rental insurance from the rental car company then you will likely choose between two core types of options: loss damage (also known as collision) coverage and liability. Loss damage protects damage done to the rental car vehicle because of various accidents and emergencies. Liability covers the damage done to people in the car (or the other car) in the event of an accident.
6. You can save a lot of money by not getting insurance but it’s risky. USA Today reports that there are people who always decline to get car rental insurance and save themselves thousands of dollars over their years of travel as a result. However, as with many other types of insurance, you’re taking the risk of incurring huge costs if you do get into an accident and don’t have the rental car insurance.
7. The cost you pay without insurance may include lost revenue. If you opt not to get car rental insurance and the car is in an accident then you won’t just pay for the cost of the repairs. You may also be obligated to pay for the revenue that the car rental company loses when the car is in the repair shop.
8. You can add personal effects coverage. You pay only a small fee for this and it protects the items that you have in the car in case they get stolen. If you’re traveling with a laptop or other expensive items then this protection can be well worth the cost. Make sure that you don’t already have this coverage under your personal property or home insurance policy in order to avoid wasting money.
9. Fees vary dramatically from one car rental agency to another. Consider this when shopping around for the best rental car rates. A company may appear to have a great rate but if the insurance is twice as expensive as other places then the total cost may be more than it seems at first glance.
10. It’s worth it to decide in advance what type of car rental insurance you want. Typically you don’t make this decision until you’re at the rental car counter but then it’s easy to get sucked into sales pitches. Decide in advance to save money.

The summer is here and the kids are probably already driving you up the wall! If you are looking for a way to keep them entertained why not consider taking them on a trip a safari park?

The summer is here and the good weather is out, but are you stuck for ideas on how to keep the kids entertained without breaking the bank? Here in the UK we have a number of zoos and safari parks that provide great entertainment for the kids. Read on to find out more about the zoos and safari parks that are worth visiting.

Knowsley Safari Park – Prescot, Merseyside

With a wide selection of animals on display, Knowsley Safari Park is a popular tourist destination with families in the North West. With an amusement park and a miniature railway, Knowsley Safari Park boasts a seal and parrot show and well as a reptile house.

Longleat Safari Park – Longleat, Wiltshire

The first safari park to open in the UK, Longleat was opened in 1966 and originally concentrated on lions. With over 700 animals on display, Longleat Safari Park boats many attractions including a butterfly garden, adventure castle, mirror maze, gift shops and safari boats.

Woburn Safari Park – Woburn Park, Bedfordshire

With an animal encounter area, walk-through squirrel monkey exhibit and lake boats, Woburn Safari Park is a popular safari park that attracts visitors from across the UK. In addition to the attractions previously mentioned, the safari park also has a railway train, tree tops action trail, an indoor adventure ark and a gift shop. Animals on display include rhinos, tigers, zebras, giraffes, lions, wolves, black bears, camels, rhesus monkeys, ostriches and bison.

Don’t forget…

…cheap car insurance! Many of the safari parks in the UK offer you the chance to view animals in a car or coach whilst they are in their enclosures, a great alternative to viewing the animals through cages. Just make sure your policy is up to date – you don’t want any over-curious monkeys spoiling your day out by causing damage that you’re not insured for!

Source : Charlotte Walker writes for MediaVest (Manchester) on a number of topics including cheap car insurance.

Whether you want to erase bad credit or need an inexpensive and helpful personal health insurance, getting to a good plan can be tough these days. The approval part raises most issues; so, as you do not meet the eligibility requirements you either get reduced coverage, increased rates, or you never get health insurance. Personal health insurance thus creates serious issues for many people. Nevertheless, there are some good health insurance firms as well, and you don’t need to worry, because with good research you’ll be able to find a good health insurance deal.

More often than not, people who profit from group health insurance through an employer are protected against the actual price of health insurance. The raise in premium and co-payments first affects people who are purchasing health insurance for their own use. Freelance folks have issues getting to good alternatives, and they can deem themselves content to pay just a realistic amount per month on personal health insurance that offers superior coverage. The premiums can also be costly when some health conditions exist already.

Do not evaluate the monthly premium you pay through an insurance firm, with what you pay in the form of personal health insurance. You can’t see much of a difference between these two types, however the benefit is that when working someplace, the firm pays the largest portion of the sum. Furthermore, depending on the rate of disease in a certain location of the country, the personal health insurance premiums can vary for each and every state. Those who suffer from high blood pressure, diabetes, or renal disease will have difficulty finding inexpensive medical insurance.

When you compare it to group coverage, personal health insurance can get more and more expensive as the service provider may increase the premiums when a chronic medical condition develops. Price changes can be carried out even two times each year by some of the insurers. This is why you should shop around for the best alternatives.

People working in dangerous jobs or those with a family history of very severe health problems need to take additional safety measures when it is about personal health insurance. In addition to regular health insurance, you can also try hospital indemnity plans. Such insurances are sensibly priced and you can meet a pretty high deductible using them.

Just by doing a simple search on the web, you can get to cheap medical insurance that will achieve all your medical necessities. There is a lot of info on the internet about buying personal health insurance along with group and other types of insurance plans.