There are many different types of policy you can buy when insuring your vehicle. Because of the rapidly rising cost of the premiums, many more people are driving either underinsured or uninsured. It’s therefore wise to add the relevant coverage. In most clauses you can expect to see a promise to pay the damages for bodily injury or property damage which a covered person can recover from whoever owns or drives an uninsured motor vehicle. For these purposes, a “covered person” is you, a family member or anyone else inside your vehicle when the accident occurs. If you have the right to sue the owner or driver of the other vehicle, your own insurance company will pay the damages you recover (assuming that owner or driver does not have the money to pay you in full). The key consideration is the limit on the amount you can recover. All insurers put a limit on liability. This is usually a maximum and a provision to prevent you from being paid twice. So, if there’s another possible claim you could make under a workers’ compensation law or something similar, you must use that remedy first and only claim the additional amount from your own insurer.
Many people think the maximum limits on uninsured and other policies are inadequate and so buy an umbrella policy. As in the case of rain, this tops up their personal coverage. This is a two-way street. It can be a financial life-saver if your policy limits will force you to use your own savings to pay some of your medical expenses. Equally, it will protect your assets if a court orders you to pay damages exceeding your conventional policy limits to a person you injured.
This brings us to a new case in Texas where Sandra Gervais Laine sued Farmers. The facts are simple. Ms Laine was driving her mother home when a drunken, uninsured driver crashed into her car and killed her mother. She had an uninsured policy limited to $250,000 and an umbrella policy adding $1 million. A jury awarded Ms Laine damages of $175,000 for the wrongful death claim and exemplary damages of $1.5 million for causing the death of her mother while drunk. You might think this looks good for Farmers making a total payment of $1.25 million. Except that, under Texas law, there’s a fixed legal principle. An insured cannot recover from his or her own insurance company the exemplary damages awarded against another driver. So the most Ms Laine could recover was $175,000. The moral of this case is a hard truth. Everyone is assumed to know the law. So even if you read and understand the terms in the different policies offered through the auto insurance quotes, you can still be caught out because you do not know the law of your own state.
For most people, it’s not economic to take legal advice on all the different policies before deciding which to buy. Even if you could afford it, just how much of the law of insurance are you supposed to learn before you can make an informed decision? This leaves you with little real choice. When you receive the auto insurance quotes, read as much as you can. If there’s anything looking important you do not understand, ask the insurance company what it means. Before you sign up, the companies are always helpful. Get as much as you can clear before you sign. It’s usually too late to ask when a claim is being made.
Posted in
Articles at March 2nd, 2010.
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When you search for financial aid regarding college funds you have a couple of choices. First you can attempt to get a scholarship, which will pay for some or all of your education. Once you have explored this option you have student loans.
The Federal government provides a few programs in regards to student loans. They have the Pell Grant, which is awarded to students in need of financial assistance. The Pell Grant does not require you to pay the money back. The government also has the Stafford Loan. The Stafford Loan must be paid back.
You may also elect to go through a private lender for your student loan. If you choose this option you will need a co signer. A private lender will examine your credit report. They will determine your risk and if you have no credit history ask that a family member co- sign your loan before they award it.
The only loan that does not require a co-signer will be the Stafford Loan. This is due to their process of lending you money. Student loans without a co- signer do not examine your credit history. Instead they will ask you what degree program you are in, what school you are going to attend, and your parents’ income. The government feels that all parents should contribute to their children’s education. So they determine what a parent can afford to provide during the year.
Then the government decides what they will award the student. Typically the Federal Loan will cover the tuition and books. In some cases it can also include student housing. However, for student housing to be awarded as part of the loan the student must live on campus. If the student does not they will need to seek an alternative for paying rent- unless their housing choice is part of the university or college in some manner.
When you obtain student loans without co- signer you generally do not get rewarded a large amount due to the risk factor. Still, there are many reasons to attempt to get a loan without a co- signer. You may not have a family member who can sign for you. You may also have a good enough credit history to pass the private student loan application without a co- signer. This latter situation is rare for undergraduate degree programs, but if you are a graduate you may find student loans without co- signer.
Posted in
Education Loans at December 30th, 2009.
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If you purchase magazines from the store on a regular basis, you know how easy it is to spend a lot of money on a monthly basis just on 1 magazine. Paying full price for a magazine can be pricey. For instance, if you want to buy one of the popular weekly entertainment magazines and pay full price, you will end up spending about /month or over 0 for the whole year! When you are paying a little at a time, you might not notice who much you are spending, but when you sit back and look at the whole picture, you will find that you are actually spending a lot of money per year buy purchasing them at the store.
What if you were given the opportunity to enjoy the same great magazine on a weekly basis for 40%-80% less? It is an opportunity that you wouldn’t want to let pass you buy, right? Well, you can save a great deal on magazines simply by purchasing a magazine subscription.
Many people do not realize how much you can actually save by going the subscription route.
A simple search of magazine subscriptions online can result in huge savings. Not only can you save money, you have the convenience of having the magazine delivered to your home. Some subscriptions include free trial issues or free gifts that you receive in addition to saving money. So, before you continue to pay full price for you magazines, do a little research on discount magazine subscriptions. Perhaps you even have a friend or family member that will be willing to share in the subscription and you can take turns reading the magazines to double your savings. Who wouldn’t want to save a little extra money while enjoying the same great issues of your favorite magazines?
Posted in
General at July 18th, 2009.
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Do you need a cash advance? You could get one today if you need it immediately. Several payday lenders can serve your needs for immediate amounts of money. Here you will find out how payday loans work and what they are meant for.
What is a Payday Loan?
It is like asking your employer for an advance on your paycheck that you pay back the next payday. A payday loan is so much easier though. Usually there are no questions asked and they can be processed very quickly for your convenience.
Of course, there are fees for getting cash advances but you will then not have to resort to borrowing money from friends and family. That can get to be an uncomfortable situation in and of itself. Plus, it is much easier to not pay back a friend or family member.
You are held to a time frame to pay this loan back or you accrue even bigger fees. That is incentive enough to pay it back in a timely manner. Payday loans do not take long to process and you can usually walk out with a check in your hand. Some companies take upwards of 24 hours to process your loan but there are other companies that are faster.
Why a Payday Loan?
Does this sound familiar? You get your paycheck, pay your bills, get your gas and groceries and all is well until your next check.
Then out of the blue, you get a flat tire, or an unexpected bill comes, maybe one you forgot to pay initially. Perhaps there is a family function that requires you to travel and stay out of town unexpectedly.
What do you do? You just used up your paycheck and it is two weeks, or so, till you get paid again! The cost of a payday loan can actually save you money versus the cost of fees that you might gain by not paying your bills on time.
No Credit Check
Usually when you apply for a loan the credit check is what keeps you waiting on your money. Some lenders don’t even bother with a credit check. They are actually not interested in your credit history, believe it or not. They merely are interested in your ability to repay what you borrowed out of your next paycheck.
For those with bad credit, this is a blessing! You are repaying your payday loans ahead of time with a post-dated check from your checking account. This is usually the same checking account to which you receive your payroll deposits. Some lenders will debit your account when the loan period is up.
The lender can and will verify if your salary is being deposited on a regular basis. To qualify is easy; you must have employment that you have been at for at least three months or receive steady money (such as disability or social security) and you must have a bank account. That and your name are about all that it takes to qualify for this quick payday loan.
Bad Credit Does Not Matter
Make sure when you apply for a cash advance that you read the terms and conditions, or rather, the fine print. Some lenders charge you a certain amount of money for every hundred you borrow. Review what kind of fees and penalties are issued if you are late paying the loan back.
If you can’t repay the loan in the time frame decided upon, it is possible to roll the loan over for another designated amount of time; however, you will pay a fee for it.
How can you be a smart and responsible when considering a Payday Loan? You should know that the amount you borrow should be the most minimal amount that you require, and to pay off the loan as soon as you can.
In some states it is mandated how long you may keep the loan active and how many loans you may have at the same time but a smart consumer will be able to keep track and handle their own business.
Posted in
Payday Loans at April 2nd, 2009.
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