sábado, 12 de noviembre de 2016

What is an insurance broker?

If you require a service, it is common to ask for some help in order to know which are the best decision for you and your pocket. This is the main function of an insurance broker. They are prepared to work as advisers, using their knowledge and experience to study possible options to their clients. People would ask why is necessary a broker to do this and the answer is that you should let professionals do their work.

Role of an insurance broker

If you are having some legal issue is obvious that you are having a conversation with a lawyer or at least, calling your friend that is a lawyer, so, it is kind of the same with an insurance broker but the difference here is that you are protecting your investment and money with some wise advices as should be a broker’s advices.
First of all, your possible broker as professional in the area should study your insurance needs in order to get a possible budget and economic range in your insurance coverage.
You could ask about a price in different insurance companies, but a broker must know certain questions and possible options that a single person wouldn’t know.

Before you have established some communication with a broker, you should know that personal consultations will have different results than just some questions by a phone call. 

After you have hired one broker, he will:
Ask about possible quotation based on your needs.

This is done by making an analysis depending on what you want to ensure, a house, car, pet, business, among other insurances.
Ask about possible offers with his / her professional skills in order to get cheaper prices.

There are certain plans that can be cheaper if some features are not included in the coverage. This is something that you should ask how it works; a broker should answer all your questions, explaining each premium and each discount.
Comparing coverage to get the best offer
After you have hired the coverage, an insurance broker must be able for the client if the client needs to do things as:
Selling an ensured asset

Policy renewal or cancelation

Your broker should work depending on client’s interest. If a broke make a lot of clients choose a nice insurance plan, is obvious that clients will grow as broker’s earning. Is good asking about broker’s experience before working with, this will give some information about? The best insurance is not the cheaper one, the best insurance is the most effective, this mean that your broker should not give the cheaper, but also the most reachable and functional insurance.

jueves, 9 de junio de 2016


Travelling is always fun, going to any place you want and doing the things you always dreamed of is a total wonder; from the very beginning of your trip you have to be sure that most of the things are covered so you can fully enjoy the experience, starting with flight tickets or lodging and ending with your list of things to do or buy, take a deep look on a travel insurance so you can do all of your activities with confidence.


    Most of the people don’t really pay attention to this part of the travelling experience, just because you are going to another place, doesn’t mean you don’t need to look after yourself, your things and those who are going with you. Maybe bungee jumping, driving luxurious fast cars and motorcycles sounds a lot better if you are sure of the fact that someone is looking after your health anywhere you are.

    Travel insurance is a contract made mostly, by travelling insurance companies and not any kind of insurance company; who offers the service of covering essential and common emergencies or event that can affect you or your possessions including like luggage. But the same name is used for a service is included within car insurance contracts in case of travelling by road.

    In some cases, this can be offered as a service and not certainly insurance but still the differences are quite small, it depends on how deep they go and cover the costs; travel assistance companies are not under any obligation of actually being an insurance company, so they are not regulated.


● Medical assistance and care in case of an accident or illness, along with costs and checkups or procedures.
●  Basic coverage for accidents doing sports or extreme activities.
●  Dental assistance and care.
● Psychological attention for certain cases like suffering of a shock.
● Sanitary or mortuary repatriation.
● Economic compensation in case of robbery or loss.
● Legal assistance and costs.
● Medication costs.

    You should better know and assimilate the risks of any action, but still a little thing can turn your trip into a nightmare, like food poisoning, diarrhea or bad digestion is actually really common after eating food you are not used to, besides not everything is the same in every country, health aspects may be different than what your body is used to and can react to it.

Business Insurance

Sometimes losses can guide a live work straight to the trashcan, so now to start a business is almost a necessity to have a backup. When time to hire a company, partners must make a comparison in quotes. Finally the business insurance has to fit with the activities, offers good quality and spread coverage.

The technical term is this: business insurance pertains to protecting contrary to operational losses by any type of business. So the type of loss that is covered by a business insurance policy depends on the type of local limitations, insurance company and the policy wording.

The importance of obtaining an insurance policy
It is essential and fundamental for small business owners or partner groups to contemplate carefully and estimate their business insurance necessities because they may or definitely have a higher personal monetary exposure in case of a big loss
If an owner does not feel having the ability to assess business with success possibly risk and the need for coverage, then should work with a trustworthy, veteran and accredited business insurance broker.
Insurance rates

Companies apply the technique of actuary tables configured from data using important evidence and projected risks estimating related businesses who have tolerated covered losses and quote an appropriate rate per each unit of insurance coverage. The amount of business insurance companies providing business insurance can influence the rates as well as can the size and kind of business.

For example, there does exist several classes of risk identification factors that integrate into determining coverage agreements and policy insurance rates. Such as operational hazards, business experience, and the spot also. Obtaining subsidize for business that are just opening can sometimes depend on the business plan that require a viable business insurance purchasing.
Importance of the insurance

It really does not matter what is your company performance. As an example let’s take a look of every business in the United Kingdom, any of those which employs at least one member of the team or more is a must by law, according to the Employers' Liability Insurance Act 1969, to have an active Employers' Liability Insurance coverage in the workplace.

Then this insurance offers coverage for the business in the situation that an employee who is damaged at workplace or who start suffering an illness as a result of their labor for the business claims for compensation.

In the United States for example, the state government decides the requirements for businesses to insurance. Almost every state requires commerce with personnel to pay for unemployment insurance, state disability insurance and workers' compensation insurance. The state government also need insurance of specific business activities.

As a supposition, imagine you are a car or a truck owner and daily use it for business concerns; a requirement for you is to get coverage of commercial auto insurance. In conclusion, your financial mortgage or partners group would require you to keep employees safe, business interruption, fire, inundation or other forms of business insurance to maintain their investments protected.


The loss of a familiar, or any beloved being, is one of the hardest stuff that we need to pass through in our life. Unfortunately our time in the physical world is limited and there is not too much that we can do to avoid that eventually moment. With this terrible fact in mind the least that we can do is left something for the people who may be affected, beyond the emotional aspect, for your departure of the world of the living, and that’s why we need to know about the importance of the death insurance.


The beginning of a family brings with it a lot of important questions that need to be answered quickly. Even if we put on side any bad casualty that may happen along our life. Is necessary to have in mind some long term plans of sustenance for our couple and children’s.  Including the eventual stage in which our presence is left. When we buy a death insurance policy we basically buy a financial backup that we pay as long as we live in order of leave some kind of economical safety to the rest of our beloved ones in case of an unexpected that we died.
The payment of the death insurance policy will depend only from their clients.  The company that give the service is the one in charge of receiving the payments of the client that pay for the service and pays to their family in case of his dead. It is also usual to denominate risk insurance. If the insured dies the beneficiaries designated in the policy receive the pre-established payment. When the insured lives at the end of the contract, the beneficiaries could feel safe about the payment of the contracted income. This type of insurance is known as “survivor policy” and it is particularly relevant the tax treatment that will depend on the laws of each country.

There is also a type of plan that is known as accidental death insurance when you are involved in an unexpected accident that compromise you physically with injuries like blindness, dismemberment or even getting killed, the insurance company assure you and your family an immediate covering without the need of a medical exam or long form applications. The payment of the policy can be annual, semi-annual, and monthly and also have the option of direct debit or direct debit from your credit card.Buying life insurance in the event of death, it creates a well immediately.
The creation of this well is especially important for young families who have not yet had the time to accumulate assets. When an insured purchase a life insurance policy, he/she will have a guaranteed worth of at least equivalent to the amount of the sum insured from the moment that the first premium is paid.
It’s important to know that hiring a life insurance can leave our home protected against a possible and unexpected loss.


Having insurance can be translated in a life full of stability and peace without any kind of worries. This decision will give you, and your family, the tranquility of knowing that in case of an accident you, or them, have a backup to recover for every accident or eventuality. So here are some of the benefits of having insurance.

In first place, the option of buying an insurance is up to the decision of any people who think if it’s necessary, or not, the service. But before we answer that question it’s important to know which the benefits of having insurance are:

1.    In case of medical emergencies the HCM policies will provide coverage for hospitalization expenses based on the sum insured, reimbursement of medical expenses incurred under the terms of the policy, application of guarantees cards for hospitalization or medical care can be planned. Depending on which type of insurance you have it can be other kinds of services that the insurance company will cover.

2.    If we are talking about car insurance, in case of partial damage to your vehicle the company supports you to repair them through a network of workshops that have strategic alliances with the insurance company. You also have compensation in case of total loss of your vehicle or damage to third parties (persons or things). In case of robbery the company will restore you the money based on the value of your car. In case of a mayor accident, the insurance count with the payment of medical expenses of the driver and the rest of the occupants inside the car (in case there were some).

3.    Counting with a policy that supports your home in case of any unexpected or unwanted event, such as a natural disaster (earthquake, fire, flood, etc.) you have the support to receive a compensation based on the amount of coverage that was contracted as well as the option to include coverage for furniture and household goods in case of robbery or theft, glass breakage, broken pipes of the building and locksmith service.

4.    Insurance is like an umbrella; in case of rain you can open it and using it to protect you from get wet. Even if is not raining the benefit of having one is important for any unexpected moment, just like an insurance.

5.    The biggest benefit of having insurance is that in case that the cost of the policy makes the most of your worries, the insurance companies have special plan of financing to the customers that can´t pay the total amount of their services in comfortable quotes, depending of the needs and incomes of the person that is asking for.

6.    There are also insurance policies dedicated exclusively to your business. This kind of policy covers the damage or eventual accidents that involves any property of your business, from physical places (stores, buildings, etc.) to any goods (vehicles, products, etc.) 


When it is time to get your own space, building a sanctuary just for you, your belongings, dreams and your family, you have to be sure that everything that involves this plan is completely secure and safe from any harm or robbery, that is why there are so many companies specialized in home insurance, to cover you from anything that can affect your property.

Home insurances , hazard insurance and homeowner's’ insurance are the common names for this type of coverage which is a property insurance to private residences, this combines several aspects and features of a personal health insurance and protections in case of external factors affecting the property. With liability coverage, you can be sure and calmed about having a backup in any case of disaster; this is a contract between the insurance carrier or insurance company and the insured, being a contract of indemnity, it will take full responsibility and actions of giving the insured back what he had and how it was before the loss.

This type of insurance is particularly variable because the cost of it will depend on the aspects of how much the residence costs like how much would cost replacing  the entire property in case of destruction, besides dealing with additional endorsements or riders if attached to the policy.


●Flood insurance, for water damage, this feature goes from a simple water flood to recover the structure and/or contents of the property and this is regulated cost or price for the service.
●Fire, lightning, hail and explosion coverage; many companies even have a tornado or cyclone coverage depending on the location and possibilities.
●Robbery, from outside damage to stolen objects within the property, having certain limits on the amount of objects or pricing.
●Electronic devices, protecting any loss or damage made. This aspect doesn’t cover every kind of devices; many of the deals made don’t work with cellphones or computers.
●Glass pieces like windows, mirrors, crystals and others, applying for any crack or split that damaged it.
●Personal properties, with limits for theft and loss for money, coins, medals, banknotes, etc. There are two types of this coverage, cash value policy and replacement cost policy; cash value policy will pay for the cost of replacing belongings minus depreciation and replacement cost policy refunds the current cost of replacing all of the belongings.


An insurance calculator is an application that allows the users to compare different insurance plans of: car, life, home, business and travel from different companies with the goal of look which of them give more profits.

The insurance calculatorworks according to the client’s needs and preferences. Every type of insurance have a different specification in the program depending on which type of policy are you looking for, the steps to use de calculator are:

Life insurance calculator:  if you have a loved one that you care for, but your budget is not enough to apply for a standard insurance, the steps you need to follow are very simple. In first place the info you need to provide for the calculator is the amount of money that you have available to invest in the policy. The next step is give the information about how long would the insurance company will have to replace your incomes in health terms. The third step is put the amount of money that the “survivors” (wife, sons or all the rest of the family) will need after the time you past away, the income of this particular step is based on the result of your calculations after taxes.
Hypothetic scene is taken in count to make possible situation of an eventual payment of college for your sons (if you have one), how many of them are ready to go to and an estimate of how much you think they need to afford it. After answering all the personal and financial questions the final step is the calculation of all the data you provide to the program in order to receive the final result that is how much your insurance need to cover.  There are insurance calculators about types of insurance plans, annuity and subsidy.

Car insurance calculator: in the case of vehicles the insurance calculator needs a different types of questions to be answered. In the first place the program needs to know the status of the car (leased, financed or owned), for how long do you have the car, the age of the driver, the cars value, risk tolerance, if you are or not a homeowner, extra services besides the financial reposition and with all these information, the final result is the amount, or capability, to have an insurance policy on your car.

House insurance calculator: maybe one of the most important types of insurance coverage. This one covers the problems or accidents that could happen into your home that in a certain way ended up damaging the structure of the house or their basic services. Basically the questions that you need to answer are the same of the car insurance type. But with another kind of questions about some specific types of risks like identity thief cases, etc.

The importance of an insurance calculator is high because helps the potential client to have a minimal idea of how much their insurance policy may cost and which are the needs he has to cover with it.