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Showing posts with the label Insurance

Car Insurance in Kenya

NAZNET Paying for the damages to a car that has been in an accident can become costly, if you are not insured. And if you are the one who is at fault in an accident, you will likely have to pay for damages to the other party’s car, which can be even more expensive depending on what has happened.   1.Physical damage repairs. Physical damage can be very costly if you have to pay from your own pocket, making car insurance the best solution. There are two types; - Comprehensive insurance This type covers issues such as fire, theft, storm damage. - Collision insurance This mainly covers accidents with other cars and objects. It is important to note that car insurance often will not cover mechanical damage unless it is caused by a collision or a storm.  2.Pay for a stolen car. If your car is stolen, you will need some way of getting it back.Most car insurance providers offer theft cover, which means that you will be given money to the current value of your car which will a

Why You Need Cyber Insurance

NAZNET The cyber bad boys are always there looking for digital fault lines which they can  exploit. This is why digital assets like data should be insured at all times. Given the speed at which technology and data are spreading , insuring digital assets is not a bad idea and should always be done without failure. What if  fire burns down your office?☺ You should be thinking about this if you own an office. You  won't be able to run your business for weeks or months. Property damage risks like fires or burglary threaten your servers, backups, and other physical data storage devices. Such losses could bring about a slump in productivity, raise data-recovery costs or could harm a long-standing customer relationship. That is why most Insurance Companies have come up with this policy. Cyber insurance policies can  give businesses access to qualified recovery specialists who can help them bounce back from an incident. So what are the requirements to get this policy? To se

3 Types of People Who Usually Dont Need Insurance

NAZNET A single person with no dependents Incase you're a single person with no dependents, you probably don't need life insurance. That's not to say buying life insurance is a bad idea if you are single and have no dependents your designated beneficiary, whoever it may be, will still get a cash payout. However, there may a better use for the money you would use to pay the premiums. **Check on MARANDA SCHOOL, BENDANISH Retirees Life insurance premiums tend to increase with age as health declines, a person's life becomes more expensive to insure so buying a policy later in life is typically not cost-effective. If you have heirs, there are often better ways to make sure they are taken care of financially in your absence than buying a last-minute life insurance policy. Kids and college students Children and college students don't need their own life insurance policy. In that case, it's possible to purchase a policy for the child, although the adul

Life Insurance in Kenya

NAZNET When people have sufficient life insurance coverage, they can rest assured that their family and their home will be taken care of well into the future. 1 . Funeral Expenses Funerals, even cremations, are expensive affairs. Having to pay final expenses out-of-pocket while you are grieving over a loved one’s death is a terrible situation. By opening a burial insurance policy, you can make sure your loved ones are not burdened financially after your passing. 2 . Debt Cover Death does not cause debts to go away. Your heirs will be left holding the bill if you die without life insurance. This could cause financial ruin to a young family with few resources. Life insurance that covers all of your debts can be an important investment in your family’s future. 3 . Business Cover If you own a business, it is wise to carry a large enough insurance policy to cover at least a year’s worth of your budget. This will keep your business afloat in the event that you pass on. Many small bus

Why you should have a Wedding Insurance

NAZNET What is wedding insurance? Wedding insurance, which is also billed as special event insurance, is an insurance policy that covers cancellation of a major event due to bad weather or  death, illness, or serious injury of a key participant. What happens if the photographer or DJ gets sick?  What is the backup plan if the caterer drops the cake?   Is the company insured?  What are the penalties if the company fails to deliver on the promised goods or services?  What happens if you need to cancel the contract?  Fire, flood, or act of God Many couples assume that purchasing wedding insurance will take care of them in case of a major weather event or other forces outside of their control. Unfortunately, that's not necessarily the case.  While cancellation or postponement coverage on a wedding policy could pay out in the event of an extreme weather phenomenon, it's generally only honored in the case of a statewide emergency. A more localized weather emergenc

Kenya Travel Insurance

Here are  some of the  reasons you should buy a travel insurance plan 1. Loss or misplaced baggage cover If your luggage is lost or misplaced, you don’t need to  worry as it would be recompensed by the travel insurance provider. Your travel insurance policy will cover the cost of daily essentials that you lost with your luggage. Your travel insurance policy will include the cost of clothing, toiletries, medicines etc. that you would need until you get your luggage back.  2. Cover for misplaced or lost of passport and travel documents In case your passport is lost or stolen, you can get compensation for the amount paid in getting travel documents and a duplicate passport. The travel insurance provider will offer you assistance in the replacement process. The insurer will help in coordinating with nearby Consulate Office or the local authorities. 3. Cancellation of trip   If you have a travel insurance policy you can get compensation for any flight cancellation in

How is My Insurance Premium Calculated?

This is the money charged by insurance companies for coverage. Insurance premiums for services differ from company to company, so it is advisable that individuals shop around for insurance premiums. However, it is important to note that, sometimes, insurance premiums quoted are slightly different from the premiums charged.  The level of insurance premium charged to a customer depends on statistical data that exists about life history, age and health. For example, a 25-year-old man who drives a sports car is more likely to pay a higher insurance premium than a 50-year-old man who drives a four-door sedan. Every customer that applies for insurance goes through the underwriting process. The underwriting process involves investigation into familial diseases, analysis of reports like medical information bureau and motor vehicle reports. After analyzing the data, the actuary tries to predict how likely the insurance applicant will make a claim on their policy. The higher the probability

What is a Gap Insurance?

Gap Insurance  is optional add-on car insurance coverage that can help you cover the  gap between the amount you owe on your car and its actual cash value  in the event it is totally destroyed in a car accident.It may be optional but also important in some cases. Gap insurance may be a good idea for leased cars which you do not own fully.leased vehicles depreciate quickly. Therefore, if you didn’t put much money down and you still owe a sizable amount on your total lease payment, you’ll likely owe more than the car is worth if you get into an accident. That’s especially true if the accident occurs soon after you drive off the dealer’s lot and the car hasn’t suffered as much depreciation. Keep in mind, however, that the gap is constantly fluctuating. The difference between what you owe and what the car’s worth shrinks as you make monthly payments and as the car depreciates. So, you definitely won’t need the coverage for your entire lease period. You may only need it for a few months,

What is a Health Insurance Policy Number?

A health insurance policy number is an identification number assigned to an individual or family covered by a health insurance provider. In Every Case,each covered person has a unique number that allows the insurer and health providers to match covered treatments with the right policy information. Someone's policy number is normally listed on an insurance card, along with the covered person's name and the customer service numbers for the insurer. The ability to look up a policy number allows a health care provider to property quote or estimate the costs of treatment to the insured person. Employer group plans also include a group plan number, which identifies unique attributes of the coverage.

How to get a lower Car Insurance Payment

If your car insurance payment is too high then you are in the right place.There are some specific steps you can consider.I believe they can be of much help to you. 1. Shop around  The most important step  is to see what other providers are charging for the same coverage.It's advisable to get  at least three quotes, but for me, i would recommend you to get as many as you can. Always try and get the quotes directly from the insurance provider. 2. Bundle insurance with the same company Most insurance companies provide discounts if you purchase additional policies, such as homeowners' insurance.So try to purchase other policies at the same time because it may be of help to you. 3. Maintain good credit  Your consumer credit information is used to obtain your car insurance quote, a good credit history can keep your payments low. This means checking your credit report regularly to make sure it's accurate. 4. Take advantage of low-mileage discounts Keep records o

What Is Comprehensive Auto Insurance?

NAZNET Comprehensive Coverage is  good because it protects against many different types of physical damage to your vehicle. How Much Does It Cost? Comprehensive Coverage is usually a fairly affordable coverage. It obviously varies per vehicle and per driver but overall for what you get, it is usually worth the cost. It could potentially save you thousands of dollars of out of pocket car expenses. What Does Comprehensive Cover? 1.Animal Accidents Comprehensive coverage will actually extend  to any animal including but not limited to birds, raccoons, and dogs. 2.Hail Damage Hail can strike without much notice and With comprehensive coverage, you will be protected from all those hail nicks. 3.Fire Damage Whether the fire was engine related or started by your crazy friend,comprehensive will cover your vehicle. 4.Stolen car If your vehicle has been missing for more than 30 days, comprehensive Coverage will pay the actual value of your missing vehicle. 5.Vandalism

What is Auto Insurance?

NAZNET What does auto insurance mean? Its a contract between you and the insurance company that protects you against financial loss in the event of an accident or theft. After paying your premium, the insurance company agrees to pay your losses as outlined in your policy. It mainly  provides coverage for: Property – damage or theft of your car. Medical – Treating injuries, rehabilitation and funeral expenses. Most insurance companies will send a notice when it’s time to renew the policy and pay your premium. Who is covered ?— The policy will cover you and other family members,  driving your car or someone else’s car. Your personal auto policy only covers personal driving. It will not provide coverage if you use your car for commercial purposes—for instance.

How to get cheap Auto Insurance

NAZNET It's good to know our state and a general idea of your rating factors would be helpful. There are some general factors when looking for cheap auto insurance, however. The garaging location of your vehicle is important.  Your driving record, and that of other drivers in the household, is important. Your credit plays a role in your auto insurance rates. Required coverage in your state can have a substantial impact on your rates. Shopping around is important, but you should ensure that you’re comparing similar coverage. You can also talk to a good agent to help you shop around on your behalf and save you both time and money. It’s very easy to exceed that number, even in a minor accident. If you cause property damage or bodily injury in excess of your liability limits, you can be held responsible for that amount and generally once policy limits are paid, your insurer is no longer obligated to defend you. The savings from reducing 100/300/50 coverage to 50/100/25 are not en