A Guide to Pension Sharing Orders

Like many people, you may be wondering ‘What is a Pension Sharing Order?’ A pension sharing order is made through the courts after a divorce or separation. Essentially, it is the process by which part or all of a pension is allocated to the pension holder’s former partner, who will then hold these benefits in their own right. 

A pension can be one of your most important assets, which is why it’s so important that a pension sharing order is implemented correctly. 

Implementing a Pension Sharing Scheme

To obtain a pension sharing order you will need to employ the services of an expert financial advisor, who will be qualified to advise you on the most suitable plan for dividing and re-investing pension benefits. All pension orders must go through the courts, who will determine exactly what proportion of a person’s pension must be allocated to their former partner.

A pension sharing order must be implemented within four months of the date when the pension scheme receives all of the pertinent paperwork. Each part of the scheme will have different requirements as to what documentation is needed so all paperwork must be delivered and processed on time to prevent delays in the pension sharing order.

The implementation of a pension sharing order is also dependent upon whether an internal or external transfer method is used by your pension scheme, which you should check before negotiations begin. 

Enforcing a Pension Sharing Order

To ensure that a pension sharing order is successfully enforced, it’s important that all parties go into the courts having asked a few important questions:
Whether or not the non-member can remain in the scheme.
Whether the pension sharing order recipient will need to wait until their normal retirement date, if the pension scheme in question allows for early retirement.
What charges will be levied by trustees, and if these need to be paid up front.
Whether or not your pension sharing order will accrue interest, either directly or through a qualifying agreement.
If internal documents need to be signed before a pension sharing order can be implemented, and the best way to go about gaining the signatures of both parties. 

The Advantages of a Pension Sharing Order

One of the reasons that so many people choose a pension sharing order is that it allows for both parties to make a ‘clean break’. Pension assets are split according to a percentage decided on by the courts, and a pension sharing order is managed from start to finish by court officials and an official pension sharing order advisor. 

Alternatives to Pension Sharing

There are several alternatives to a pension sharing order which may be used to divide pension assets in the event of a divorce or separation. Offsetting and earmarking are two of the other ways in which separating couples may decide to divide pension assets, however both are dependent upon certain other factors, such as the amount of available assets and the amicability of the separation.

Are You Paying Too Much Tax? – How to Claim Tax Back if You Are

Taxes (Photo credit: Tax Credits)

If you think you’ve been paying too much tax, then how do you claim tax back? Here’s the low down on how to get your money back and what to do if you think you’ve overpaid. Overpayment can appear in many guises, either through income tax, PAYE, self assessment, pension, savings or national insurance, so let’s take a look at each one in turn. 

Income Tax 

Tax on your income is taken from the amount that you earn each year and is broken down as follows. 

• Anyone under 65 can earn up to and including £8165 before they’re taxed 
• Anyone between the ages of 65 -74 can earn up to and including £10,500 
• Anyone 75 and over can earn up to and including £10,660 

This system works well for a person with one full time job with a rate of pay that’s fixed. However it mightn’t be as straight forward for someone who doesn’t fit into this criteria. If you feel that you have been overpaying tax, then contact the HMRC, or use the free HMRC income tax checker. 

PAYE 

The majority of the UK workforce pay tax through the Pay As You Earn (PAYE) system which is deducted automatically from your salary. PAYE uses a tax code to determine how much tax you should be paying, but if your pay fluctuates or you’re not employed for the full year, then again, you could be paying too much tax. If you believe this to be the case, then you should contact HMRC and ask for a tax assessment. Claims can be backdated for as much as four years. 

Self Assessment 

If you are self employed and feel that you have been paying too much tax, then similarly to PAYE you need to get in touch with HMRC. You have four years to claim backdated overpayments. Alternatively if you need to make a claim, or to correct a mistake on your last tax form, then you can do so by completing an amendment form. This is again available from the HMRC. 

Pension 

Tax can be paid either on personal, company or indeed state pensions and there may be a chance that you are paying over the top. This can be for a number of reasons. It could be that: 

• You've been allocated an incorrect tax code 
• Your entitlements have changed 
• Your circumstances have changed (ie age) 

Again contact the HMRC explaining the situation, but you’ll need evidence such as your P60, P45, and any other information relating to your pensions and benefits.

 

Savings 

The majority of savings accounts automatically deduct tax from the interest on your savings before it hits the bank. If you are excluded tax (ie filled in an R85 form) or your savings are in an ISA, then you shouldn’t have to pay standard savings tax. If you are, then ask for and fill in an R40 form and contact your local tax office. 

National Insurance 

If you’ve had a succession of jobs in one year then chances are could be paying too much national insurance. Visit the DirectGov website to check out if you are indeed paying too much and which form you have to fill in. 

In essence, if you are paying too much tax, then don’t worry unnecessarily. As long as you know who to contact and what forms to fill in, you should be able to claim tax back easily. Claim Tax Back at www.taxrebateservices.co.uk.

 

What are Your Car Finance Options?

With the new year in, many people will be looking to make some changes in their lives, and for some this might mean buying a new car. It can be one of the most expensive purchases you make, which is why you have to give it a lot of thought. If choosing the car wasn't hard enough, you've then also got to decide how to pay for it. There can be many different options, and finding the right one can save you quite a lot of money.

Outright Purchase – This is of course one of the best ways to buy a car. If you can afford to buy it without finance, then you won’t be paying any interest at all, making the vehicle cheaper. It might also be possible to negotiate discounts or extras on the car if the dealer knows you can pay there and then in cash.

Leasing – Leasing can be great value with relatively low costs, but the key is that you never actually own the car, unless you decide to pay a lump sum at the end of the agreement. There are lots of different options, depending on the length of the lease, the deposit you put down, and a variety of other factors. This is one of the best ways of combating depreciation however, so it’s worth a look.

Dealer Finance – Dealers often offer good rates of interest, and will have special deals from time to time. If you can take advantage of them, then do so, but be aware that you’ll often have to pay a large deposit.

Personal Loan – If you don’t want to pay a deposit, then a loan is likely to be your best option, depending on circumstances. A personal loan is likely to cost the most in terms of interest, but offers the least risk. There are of course limits to personal loans, and in some cases it will be difficult to get a loan for an expensive vehicle without a deposit.

Secured Loan – Secured Nemo homeowner loans also offer another option. The minimum term is usually over 3 years, so this isn’t really a good option if you don’t plan on keeping the car for a long time, but otherwise it could save you a considerable amount of money in interest. However, because the cost is often spread over a longer term you might end up paying more in interest.

How to Deal With a Notice of Intended Prosecution for a Motoring Offence

 (Photo credit: Tulane Public Relations)

You can obtain a bolt from the blue after getting a NIP notice without a prior clue. Notice of Intended

Prosecution is a notice which identifies the aspects of the offence along with its time and place the crime is happening. 

It needs the holder to deliver the cops with the name of the individual who was driving the vehicle at the duration of the crime. 

The factors of reckless driving, unnecessary speeding, driving after drinking beyond limit, using mobile phone inappropriately can contribute greatly in receiving the NTP notice. The person is notified within 14 days after the occurrence of the crime. 

Hidden cameras can find out these unscrupulous acts and prompt actions can be taken against them.

Trace whether it’s true

The preliminary step one should do is to decide whether the NIP received is authentic. By law, the police must provide a NIP to the approved owner of the vehicle within 14 days of the stated contravention. 

If the NIP is sent outside that period, then it is inappropriate and the case cannot go on. In determining whether your NIP is not fit, you have the right to seek answers, just be emphatic on the date of issuing the complaint on the paper.

Send it for clarification, if information is doubtful

In case you find fault with the notice provided on the basis of inaccurate NIP, you are entitled to send it back, requesting for further verification. 

You have the total right to seek for the amplifications that remain in your mind. But keep it in mind that mere inappropriate information does not always prove the fact that the notice is illegal.

Follow law

Conform to the rule in case the NIP notice provided to you is valid. Do not let your vehicle out until you are informing police within the 28 days period. Seek out the driver at that time period. Abide by law and don't try to transcend as it may cause you severe penalty.

If you have baffling confusions about the nature of the in NIP notice, you can consult a professional in the field of law. 

Motoring Lawyers are the experts who can handle the issues with great care and efficiency. They can provide you with a more satisfactory elucidation along with the advice of your next proceedings. 

Consultation with legal advisers may cause you to pay them initially but of course with a positive result. You can outdo a greater risk. They can equally save your license from being at threat.

10 Great Ways to Save Money at Home

Energy Star Light Bulb (Photo credit: Jenn Durfey)

You can save a lot of money at home by finding ways to make your property work for you. By adding value to different parts of your home, and by saving money in key areas, you can start to appreciate how much even small changes will affect your annual budget; some approaches to consider when saving money at home consequently include switching energy providers, de-cluttering and selling on items, and taking on a home renovation loan to build up the equity you have in your property.

 

1 - Switch Energy Providers 

The New Year is a good time to consider switching energy providers; you can both save on your annual bills, and receive cash-back  by comparing different providers, with the savings potentially rising to £100 a year. 

2 - Use Less Water 

Get a water meter for your house, and avoid average charges for your area; similarly, use less water by switching off taps when brushing your teeth, and don’t over fill kettles and pans when making cups of tea and cooking. 

3 - Use Your Garden to Grow Vegetables 

Reduce your weekly food shop by using your garden to grow vegetables; you can start a small patch, or even a kitchen garden, where you can grow potatoes, carrots, and other vegetables that can be added to your cooking routine. 

4 - De-Clutter and Sell Items 

You’d be surprised by how much money you can raise by de-cluttering your home and selling on items; old mobile phones can be sold for cash, while large amounts of books, DVDs, and CDs can be sold online to make some quick cash. 

5 - Take Out a Home Renovation Loan 

Look for short term or guarantor loans that will allow you to borrow enough money to renovate a bathroom or kitchen - doing so will help to add value to your property if you’re planning to sell in a few years time. 

6 - Get a Better Home Insurance Deal 

Work out what you’re actually paying for with your home insurance, and try to cut out anything that you don’t actually need. Look for deductibles, as well as opportunities to lower your premiums by increasing the amount of information you give to providers.

7 - Break Down Your Bills 

Calculate how much you’re spending across different parts of your home, and try to make small savings; use slightly less heat an water, or drop part of your entertainment package if you’re not using your television as much as your Internet connection. 

8 - Set Your Home for the Seasons 

Remember to add in blankets and repair drafts and leaks before the Winter, which will help you to use your heating less. Similarly, make sure you turn off your heating at the right time of the year to avoid paying more in the Spring and Summer. 

9 - Refit Your Kitchen 

Make your kitchen more cost effective by investing in a slow or pressure cooker, which can save energy. Move over to white goods that have an Energy Star label, as these appliances are more energy efficient. 

10 - Make Small Repairs and Changes 

Lots of small changes will make a difference to how much you spend at home - fix leaky taps, and try to spend less time in the shower, or running your garden hose. Check for drafts under doors, and pick up cheap drafts excluders to prevent heat from being lost.

 
Author Bio: Liam Ohm writes about home improvement, from bespoke furniture to money saving tips. In his spare time he enjoys networking and socializing.

Over 50 Life Insurance Helps Take Care of Your Family

You have always taken good care of your family. You have given them a home and all they ever needed in life. Did you ever wonder how they would manage if something should happen to you? If you had life insurance, you could continue to provide for them even if you should you pass away. 

There are many kinds of over 50s life cover available and selecting which one is best for you will be determined by your age. With all the insurance providers in business today it’s much easier to get a good deal. So you should shop around to get the best price. It's important to purchase your life insurance while you are still in good health if you want to pay the cheapest premium. Life is filled with so many unknowns and people even in good health die every day; why do we still deny these circumstances can happen to us by not being prepared. 

If the unimaginable happens there are many costs that need to be taken care of. After you pass, the last thing you want your family to worry about is the cost of a funeral. The average family could not pay for a funeral out of their savings. The enormous costs of internment are something a family doesn't need to worry about at such a stressful time. Securing a life insurance policy is the best way you can provide for your loved ones after your gone. 

At one time people paid off their mortgages by the time they were 50 but today most people are still paying their mortgage well into their 50s and 60s. This is one more reason that you need life insurance. Would your surviving spouse be able to make the mortgage payments if you were gone? Over 50s life insurance can help make the mortgage payment or even pay the house off completely if you should pass away. 

You may think that life insurance for the over 50 person is not affordable, this is not true. There are still great deals available, many even guarantee acceptance. The life insurance industry has many providers all competing for your business. With so much competition the cost for life insurance is more affordable. 

Get a Quote 

It is very easy to get a quote, online it is quick and easy. All you have to do is answer a few questions. On the Internet you can apply at individual companies’ websites. But there are life insurance comparison websites that offer prices from several insurance companies. With these websites it is so easy for you to compare individual policies all in one place. If you are not comfortable online you can also apply by phone or mail. 

Many put off securing life insurance because they hope for the best. We just don't like to think about dying someday; it is a very unpleasant thing to consider but it definitely will happen when you least expect it. Why wait any longer to take action. Start today to take the proper steps to provide for your family. 

Homeowners Insurance and House Guests: What Every Homeowner Should Know

English:  (Photo credit: Wikipedia)

There are many responsibilities that come with owning your own home. For starters, you need to be sure that everything in your home is in good working order without anything that can be dangerous to you or your guests. You also need to have a good homeowners insurance policy that will cover any damages to your home or its contents should anything happen. Then you must also add in liability for others who visit your home.

 

Why It Is Important to Know Your Policy 

When a person, welcome or not, comes onto your property and becomes injured, you are the one that is responsible for all of their medical treatments as well as their lost wages and anything else that can be associated with their injury. While homeowners insurance will cover some of these costs, there are instances where homeowners insurance may not cover all the costs; it is important that you determine what kind of liability insurance you should keep on your home; most insurance companies recommend liability coverage equal to or greater than the value of your home. 

What Does Liability Insurance Cover? 

Liability insurance on your homeowner's policy covers the medical costs and lost wages due to an injury that happens on your property. The injury that happens on your property can be your fault, an act of nature or even the other party's fault; in any case, the insurance kicks in and covers a predetermined amount. If you do not have enough liability coverage to cover all the associated costs, you can be held liable and taken to court for the remainder of the costs. 

The injuries can be caused by various reasons including faulty construction of the home, a loose railing or any other feature of the home. Additionally, the weather can even create a way for another person to become injured. Ice and snow are often culprits of serious bodily injury during the winter months. This type of weather tends to keep doctors, and insurance companies very busy. 

What Does Liability Insurance Not Cover? 

There are also many circumstances where liability insurance does not cover the injuries or costs; which is when you are likely to be sued in court. These injuries often include floods, an act of God or other specific details in which there is no insurance coverage for. The only time the insurance does not cover an injury on the property is when the initial cause of the injury is not covered. If there is a flood for example and the injured party steps on a nail due to the flood, the insurance will not cover the expenses associated with the flood including both repairs to the home and medical costs to the injured party. This is when it is ideal to ensure that anything that has a chance of happening to your home is covered since if injuries are not going to be covered for a guest, you are wide open to losing everything to pay for their expenses. 

Liability coverage on your homeowner's policy is important because even if you have an unwanted houseguest who gets injured, you can still be held liable for their injuries. When you have this coverage under your homeowner's policy, you will reduce the risk of being sued or having to pay the costs out of your own pocket. The ideal way to get the coverage you need is to go through an independent home insurance agency like Homeinsurance.com. 

Adam Vaught has experience working within the home insurance industry. He enjoys sharing his knowledge and tips with home-owners online via blogging.

Allstate: It Really is All in a Name

 An Allstate store  (Photo credit: Wikipedia)

The Allstate Insurance Company name came from the popular Allstate brand of automobile tires that were sold through Sears, Roebuck & Co. in the 1920s. The original "Allstate" name chosen for a new Sears tire brand in 1925 came from a national contest Sears held that garnered 2 million entries. 

Why a Sears Brand Name? 

Sears was a leading general merchandise brand in the 1920s. The Amazon of its time back in the day, it sold primarily through mail-order catalogues. Formed in 1886, it didn't open a retail store until 1925. With the Allstate brand tires sold through the Sears catalogue, the Allstate brand name became popular quicker than it would have otherwise. Cars, tires, and the Allstate name evolved into a natural fit for the name of the next Sears auto line, car insurance. 

During the 1920s, auto manufacturing and associated maintenance businesses like gas, oil, and tires became the most important economic sector in the United States. Automobiles were more important than the previous economic leading industry, steel. At least they were, up until the October 1929 stock market crash that caused the "Great Depression" of the 1930s. 

Before the crash, 1929 was a record-setting year for car sales of more than 5 million. After the stock market crash, auto sales dropped to 3 million sold in 1930. American automobile sales continued to decline in 1931 and 1932 to less than 1.5 million. 

Allstate Insurance Company Opens for Business through Sears 

Yet, the Allstate Insurance Company formed during the Great Depression despite the decline of automobile sales. In 1930, insurance broker Carl L. Odell proposed the idea to sell car insurance by direct mail through the Sears catalogue while playing bridge during a commuter train ride with his neighbor, General Robert E. Wood, the Sears President and CEO. 

Odell's idea to sell auto insurance through the Sears catalogue was based on cutting insurance costs by eliminating sales commissions. General Wood saw an excellent opportunity for cheaper car insurance as a much-needed service during the "Great Depression." Although car sales declined, American's reliance on cars was increasing. Wood persuaded the Sears Board of Directors to approve financing for the Allstate Insurance Company with $700,000. 

Selling only car insurance through the Sears catalogue, Allstate officially started business in April 1931. Odell became Allstate Insurance Company's vice president and secretary. The first sale came the following month for a 12-month policy on a 1930 Studebaker that cost $41.60. By the end of the first year, Allstate sold over 4,000 policies and earned over $118K in premiums. 

Allstate Insurance Company Grows Beyond Mailorder into Sears Retail Stores 

By 1933, Allstate Insurance made its first profit, a respectable $93,000 with 22,000 policies. Odell and Wood had proved their cost cutting theory of eliminating sales commissions by direct sales through the catalogue, But in 1933, Allstate set up a booth at the Chicago World's Fair and sales boomed. 

The first Allstate Insurance sales office opened in a Chicago Sears retail store in 1934. Although the formation of Allstate Insurance was based on avoiding the extra cost of sales commissions, the savings from using existing Sears stores offset the extra commission expense in full. 

Allstate Insurance Company continued to transition from catalogue to direct sales through Sears stores during the "Great Depression" and sales increased at a slow, yet steady pace. Allstate went on to become the trend-setting industry leader in the United States auto insurance industry through the 1940s and 50s. 

The Allstate Insurance Company name demonstrated how quickly a new product can prosper by using the same name as an existing and related industry product brand. 

Dennis Gilroy has acquired extensive experience in the insurance industry. He enjoys writing for personal finance blogs. 

Car Insurance News: Trading Less Privacy for Lower Premiums

A car crash on Jagtvej in Copenhagen, Denmark. (Photo credit: Wikipedia)

Faced with an unprecedented rise in car insurance claims, most insurance firms have been forced to increase the cost of their premiums. This has strangled the market for cheap car insurance policies and as a result pushed up the cost of motoring for many drivers. Typically, insurance providers' assess the cost of the driver's premium based on the characteristics of people in the same demographic - age and gender. Take for instance; single 18-year old men pay more for the same premium as compared to 50-year old married women. This skewed approach of generalization, albeit applied for ages, doesn't play any role in effecting behavioral change and tends to reinforce stereotypical perceptions. 

Better Alternative 

Technology has revolutionized many facets of the economy and it has yet to make its foray into the conservative insurance industry. Taunted by industry players as the cars' 'black box', technologists have developed innovative in-car tracking equipment that monitors drivers' behavior behind the wheel such as acceleration, braking, cornering speed and time of driving. The data obtained is then analyzed and used to calculate insurance premiums. This leads to insurance premiums that are value-based on the individual's driving habits rather than age or sex. 

Benefits 

According to recent research findings, drivers who use the technology are 20% less likely to get involved in a serious car accident than those with a standard insurance cover. This stems from the fact that drivers are more cautious while driving since they know their actions are being monitored. Furthermore, it assists insurers in knowing the exact mileage covered as opposed to depending on a driver's word. This is a crucial ingredient when calculating car insurance quotes, as it has been proven that cars with high mileages are more prone to accidents. In addition, for those who don't drive much they can get low mileage insurance covers which are tailor made depending on their needs. 

Eligibility for Discounts 

As this is a trade for less privacy for lower premiums, drivers who agree to install the monitoring device are eligible for discounts that rise up to 30%. Most insurance providers appreciate the fact that these devices have a profound impact in instilling behavioral change in drivers to be more careful leading to fewer occurrences of accidents. For instance, car insurance by insurancetown.com offers attractive discounts for customers who adopt the technology saving them insurance costs in the long run. 

Privacy Concerns 

With many people increasingly being wary of the privacy concerns of this technology, it is important to debunk the myths first. Contrary to public perceptions, the device is not GPS enabled, hence the insurance provider cannot know your exact location. The firm may have information on the number of miles you drove, what time of day you drove and other driving data, but cannot track where you were. According to industry pundits, the technology should not be viewed in light of privacy concerns but its capacity to reduce accidents and save lives. 

To sum up, the device offers a win-win alternative that offers numerous benefits to both the insurance provider and car owner. Most importantly, apart from reducing insurance costs, the technology saves lives as drivers tend to become more cautious. 

Jeff Mathis worked as an insurance consultant for more than 20 years. He likes to keep up to date with industry news and writes about car insurance on a range of insurance and personal finance blogs around the Web.

Pay As You Go Insurance: What It Is and Why It's Growing in Popularity

The high cost of insuring a vehicle continues to take a huge toll on the financial resources of many consumers. An increasing number of people have been driven to seek out and utilize innovative measures that will help them save on car insurance. The "Pay As You Go Insurance" plan is one of these options that is fast gaining popularity among vehicle owners. 

Pay As You Go Insurance 

Pay as you go insurance is a revolutionary payment system that some insurers have put in place to help their customers pay the insurance on their vehicles. It is a mileage discount program that calculates the auto insurance premiums using the number of miles you drove. More mileage results in higher payment so the less you drive the less you pay. This plan works well for drivers who do not use their cars all the time. Instead of paying a flat fee for a set period of time then have the car sitting there unused for a significant portion of that period, they only pay for the time the car was actually used. Other drivers who use their car more frequently can save more by driving less. The first telematics technology-driven Pay As You Go insurance discount program in the United States of America was implemented by GMAC Insurance and Onstar. 

Pay As You Go is the ideal insurance solution for those who would prefer to not commit themselves to a demanding insurance contract or having to pay high monthly fees. This payment method was popularly used to finance mobile phones and is now proving as an effective method to pay and save on car insurance. 

The Reason Pay As You Go Insurance has Gained Popularity 

Vehicle owners, depending on the state they live, have to pay as much as $600, $1000 and even $2500 for their insurance premium per annum. Those who will not be using their car for much of that year stand to lose money when they pay the full sum of the premium. Having the option of simply paying for the time you drive your vehicle is by far a more convenient and financially friendly solution. 

Drivers can also control the cost of their premium by paying attention to their driving details. For those who are on the plan, a small monitoring device is installed onto the vehicle to collect certain information. The device will record information such as when you drive, the distance you traveled, and the frequency or force with which you brake. This means that a driver's style of driving will ultimately determine the cost of his premium. Those who want to save on their insurance can tailor their driving habits to lessen their premium. 

Car insurance is a major expense for vehicle owners. Pay As You Go Insurance offers some relief to many people who find it difficult to meet the annual payments. The coverage is now offered by eight of the ten top insurers in the U.S.A. Both insurers and customers have realized the savings they enjoy when they pay their insurance as they go.

 
Andrew Macneil has a background in the auto insurance industry and enjoys writing on the subject. His articles appear on a number of personal finance and insurance blogs. Visit Cheap Insurance for more details.

Five Common Car Insurance Fallacies

A car accident  (Photo credit: Wikipedia)

Car insurance, though very common, is still not fully understood by many people. Most people tend to focus on low-cost car insurance, but it is also important to understand the specifics, the fine print, of an auto policy. In the long run, only this thorough understanding will save car owners time and money. This post looks at five of the most common car insurance fallacies. 

Full Coverage

The coverage offered by car insurance policies vary according to a number of things. Most people, however, assume that when they take auto insurance, they are automatically eligible for low deductibles, comprehensive coverage, luggage protection and protection for expensive add-ons. Some people even think that any auto coverage protects their vehicles from theft and even damage. The reality is that all these are just insurance options that you may either opt for or not, depending on what your auto insurance policy entails. In fact, some state laws may even have a say on what options insurance companies may offer its customers. Therefore, you should be fully aware of this fact to prevent erroneous assumptions.

Driving a Friend's Car

You have probably driven a friend's car, or let a friend drive your car. Did you know that, in most states, you lend your friends your insurance coverage when you let them drive your car? This is something few people know, but it is the reality. If your friend has an accident while driving your car, it is your responsibility as the owner of the said vehicle to file a claim. As you know, filing claims can easily increase your auto insurance premiums by denying you your no-claims bonus. What is more, if your insurance limits are not adequate, your friend who borrowed the car may also be affected. In the no-fault states, you will be required to file a claim irrespective of who is deemed to have caused the accident.

Settlement Amounts

If your car is totaled in an accident, you may be surprised to learn that the amount of your claim settlement is not equal to what you paid for the car. Like most people, you expect to recoup the whole amount of your car's cost, but this is not always the case. You should note that your reimbursement fee will factor in things like market fluctuations and depreciation, everything that can affect your car's value. These are some of the reasons why your initial payment for the totaled car may not be fully reimbursed. The reimbursement only covers the full market value of your car.

Whose Fault Was It?

You might have a very clear opinion on who caused the accident, but the insurance companies will have to come up with their own ideas. The process of determining who was at fault in case of an accident is neither an arbitrary nor a rushed one, and all accidents have to be investigated first. An insurance adjuster is usually responsible for interview all the parties involved in an accident before deciding who was at fault.

Rental Car Reimbursement

In case you fall victim to an accident that makes your car non-drivable, you will need an alternative means of transport. If you are like most people, the convenience of rental cars will come to your mind. The problem is that most people assume that their car policies automatically provide coverage for replacement rental cars. What you should know is that, just like many other insurance benefits, this is an option that you must specifically purchase when buying your car insurance policy.

It is clear from the above discussions that making assumptions about your car insurance policy dangerous. When comparing car insurance rates found on www.insurancetown.com, you should go a step further and research the options included. Think carefully before opting for ultra-low coverage that may preclude most of these useful options.

Sam Fenton is a car insurance consultant. His articles mainly appear on insurance and personal finance blogs where he shares his tips.

Industry Spotlight: Ken Fisher and Fisher Investments

In the finance industry, it can be hard to know who to trust - especially in today’s uncertain economic climate. In writing this article, I have scoured the web to search for the men and women that you should follow if you want to stay on top of the industry. This first post highlights Ken Fisher and Fisher Investments. 

A Little About Ken Fisher

Kenneth L. Fisher, is very well-known in the financial world. He is currently considered one of the leading financial advisors in the world. He has visionary ideas and outlooks on the world of finance and continues to be a power force in the financial world.

Mr. Fisher graduated from California’s Humboldt State University in 1972 with a degree in economics. After working several years for his father, Ken Fisher had attained enough knowledge and expertise on the science of financial advising and investments to begin a business of his own. He founded Fisher Investments less than 10 years after graduating from college. This company now manages billions of dollars worth of investments.

In addition to his financial career, Ken Fisher is also an author and writer. His books of financial advisory offer many strategies and assistance to those looking to master the financial world just as Ken Fisher has done. He pens “Portfolio Strategy”, a column that has appeared in Forbes magazine since 1984. He is considered to be the fourth longest running columnist in the magazine's 90-plus year publishing run.

He has also written eight finance books, with five of those being best sellers:

• The Only Three Questions that Count 
• Markets Never Forget—But People Do 
• How to Smell a Rat 
• Ten Roads to Riches 
• Debunkery 

His financial success placed him on the Forbes 400 Richest Americans list.

Not all of his time is devoted to investing; he is also a well-regarded expert on 19th century logging. Through this interest in forests, he has documented approximately 35 old logging camps located throughout the Santa Cruz Mountains This passion for the forest led him create an endowment at Humboldt State—the Kenneth L. Fisher Chair in Redwood Forest Ecology.

On a more personal note, Mr. Fisher and his wife Sherrilyn have three sons. 

About Fisher Investments

With its headquarters residing in Woodside, California, Fisher Investments is a privately owned independent money management firm that has approximately 25,000 clients, more than 100 institutions, and manages billions of dollars.

According to its website, Fisher Investment manages investments for the wealthiest of Americans; however it also caters to what the company calls “millionaires next door”—those who want valuable investing advice and expertise. The company states that its approach to investments is flexible and dynamic, as well as global. Portfolios are adjusted through a forward-thinking approach as the market changes.

The company creates personalized portfolios for each of its clients that can include such investments as cash, traded funds, stocks, and bonds. The company has an outstanding track record with its client base with nine out of 10 private clients staying with the company for the last 15 years.

Why Life Insurance Is Now More Popular for People Over 50

Life insurance is something which most of us take out at some point in our lives. However, one big difference we have seen in recent years is a growing popularity in life insurance policies for people over the age of 50. There are a few different reasons why this could be the case. 

Longer Working Lives

As we now live longer in general it is also the case that we tend to work until a later age as well. In many cases this means that there is a need to protect our families against the loss of our income until later on in life. For example, someone who has loans or other commitments until after the traditional retirement age will want to ensure that there is some form of life cover in place for these debts. Of course, a lot of people still want this kind of insurance policy for the traditional reasons of covering funeral expenses and leaving something behind for their relatives. 

Cheap Premiums

In the past it was easy to think that life insurance for older people was far too expensive for most of us to even consider. Thankfully that isn’t the case these days and most people now know that they can get hold of this type of cover without paying out a huge premium. The best move here is to look online and get a few different quotes from reputable insurance companies. When you think about the importance of this kind of insurance it is clear that the current availability of low cost premiums only serves to make it an even more attractive idea. 

Easy to Get Covered

Another big fear for anyone who thought about over 50s life insurance policies in the past was the perceived difficulty of arranging it. The thought of going through medicals and having to answer long and complicated forms was enough to put a lot of people off the idea altogether. This has all changed now with the internet offering an easy way to arrange quotes, find out all the information you need and get covered at a click of a button. If we add in the fact that most of the time no medical is needed then we can see that it is now easier to get covered than ever before. A quick look online at a good insurance company site or a quote comparison site like Moneysupermarket.com will be enough to show you that arranging the policy you want won’t be a big deal after all.

Related articles

• Term Life Insurance Available for the 50 Plus Person (50plusfinance.com)
• Types of Life Insurance and How They Work (50plusfinance.com)
• Do You Need Life Insurance? (savealittlemoney.com)

Your Business Needs to Have a Home

(Photo credit: Wikipedia)

Walk through the city everyday as you view a countless examples of architectural and artistic constructions. Rich, historic, heritage buildings have becomes sites of government business and offices. Mixing tradition and timeless beauty to house some of the country’s most important delegates and promote the most essential businesses, these heritage buildings and offices, two in one somehow stand in contrast to those high towers of steel that define multinational BPOs and media companies. These structures are witnesses to some of the more developed modes of the economy consisting of the growing and changing face of the capital industry. Humbly standing next to these will be composite structures of residency marking a blend of domesticity and industrialization that form most of the definition of global culture today. All these are nothing more than reflections of the infrastructural base created for a developing global economy. 

The real estate sector is the whiz of this century’s capitalist mode. It is that branch of the financial global tree which mixes technology with infrastructure. It is also one of the off shoots of a growing world where space and time are constantly being defined and redefined. From basic industrial land requirements to larger aspects like accommodating the growing work population, the real estate biz is under constant pressure to fulfill these ever growing demands. Arising out of the need to have the best business minds flourish, one of the biggest contributions of the real estate market has been that of expanding work zones and understanding the changing work cultures and their multitudes that coexist side by side.

The work culture has now become more aligned to the collective mode rather than an individualistic one. Initially in any company the hierarchies of employment focused more on the individual employee and his growth. But now the whole perspective has molded into focusing on the overall growth of the business itself thereby, continuing to make the employee a highlight in the company’s progress but at the same time dealing with the larger aspect of the company’s general boom. This then has redefined the work culture as one of co-working. Co-working demands the work space to be a site of constant exchange of thoughts and ideas which not only promote the business of that particular company further but also molds its employees to give in their ultimate output related to efficiency.

For such a work culture the real estate market has come up with the concept of a unified workspace, wherein technology couples in with utility and purposes, making the work experience a package of individual and collective business growth. High-tech, well defined offices are no longer only fragments of dreams. They are very coherent realities in our world today. The estate market has changed the fate of a work zone from being one of boredom and monotony to one of art and repertoire. (For example, the upcoming property of office buildings in BKC, Mumbai). It has been successful in enabling zones of perfect work harmony wherein all the aspects of business come in together to collaborate and emphasize economical and financial growth.

The estate world has molded the work experience of businesses to bring out the best of commercialization. It has linked various national economies to form a web of economic impetus to the global economy at large. It brings forth the very concept of merging individual elements to come forth together to compose a complete picture of the urbanized facet of the global industrial sector. Providing the very essential base of infrastructure to assimilate other varied aspects of business together, the real estate sector has been successful in creating a perfect atmosphere for the growth of business and capital globally.

Bio: Lionel resides in India and is a graphic designer and a part time writer of http://www.thecapitalbkc.com/ . He is intrigued by post modern art and literature and seeks to define his designs with abstract patterns. He is also a lover of animals and loves to cook pasta.

Home Warranties: Are They the Same as Home Insurance?

 (Photo credit: Wikipedia)

Both home warranties and homeowners insurance policies can be purchased to protect the home. However, since the coverage of home warranties and homeowners insurance policies do not extend to the same potential outcomes, there is no conflict in purchasing both at the same time. One is used to protect the home's amenities against routine depreciation, while the other is meant to protect the same against emergencies such as burglars and natural disasters. 

Contingencies Covered Under Home Warranties

Home warranties are purchased to cover the cost of either repairing or replacing the home's appliances and systems in case these fail due to the normal depreciation caused through prolonged use. Examples of covered appliances tend to include ceiling fans, dishwashers, oven, and range. For comparison, common examples of covered systems can include the home's ventilation ducts, its heating and cooling systems, plus its electrical system. Bear in mind that appliances and systems covered under home warranties do not include outdoor amenities such as pools and sprinklers. Furthermore, it is important to note that not all home warranties cover the same contingencies, meaning that research is needed to understand their limitations. For example, some home warranties cover refrigerators, while others do not.

Contingencies Covered Under Homeowners Insurance Policies

Homeowners insurance rates are paid so that homeowners insurance policies can be used to protect the home against both man-made and natural disasters. Examples can include fire, floods, burglaries, earthquakes, hurricanes, and even legal liabilities. Although homeowners insurance policies sometimes cover the costs of either repairing or replacing appliances and systems, that damage must be traceable to such disasters. Homeowners insurance policies tend to be similar to home warranties in the sense that not all insurance policies cover the same contingencies and amounts. As a result, consumers must take extra precautions to find out the exact details of homeowners insurance policies under consideration before making their final purchasing decisions. For example, some homeowners might be able to decrease their homeowners insurance rates by eliminating coverage for contingencies that are never going to come up. After all, there is little to no point in purchasing coverage for hurricanes if the individual is living inland, far from the coast.

Reason to Purchase Both Home Warranties and Homeowners Insurance Policies

Since home warranties and homeowners insurance policies do not cover the same contingencies, there is little fear of encountering redundancies. Instead, home warranties and homeowners insurance policies can both be purchased to prove comprehensive coverage for a home and that home's contents. Contingencies that end up being ignored under one protection measure can be handled using the other, meaning that the homeowner is never at a loss for protection.

Conclusion

In the end, it is important for individuals to remember that home warranties and homeowners insurance policies can sometimes prove too expensive to remain worthwhile. Determining the exact point at which the price crosses that line is dependent on both the cost should the covered contingencies come to pass and the chances of those covered contingencies coming to pass. The more expensive the cost and the higher the chance that the covered contingencies may occur, the smarter the choice to purchase home warranties and homeowners insurance policies becomes.


Stephen Catalano is a home insurance consultant with extensive experience in the field. His articles mainly appear on insurance websites.

Choosing the Right Mobile Phone Package for You

Walking into a mobile phone retailer can be quite intimidating, especially when you’re suddenly surrounded by young people from the store trying to get you to buy what they claim to be “the best overall package”, even when you’re only going in to make an inquiry.

Sometimes you just want a standard mobile phone that you can use to make emergency calls and let your family know you've arrived at a destination safe and sound. On other occasions you might be looking for something a bit more modern, and you can’t get much more up to the minute than a smartphone. Everyone seems to have one these days, either texting, calling, emailing, playing games and browsing the Internet. But are they for you? 

Choosing a phone should involve choosing one that is right for you in every sense. If you’re unlikely to use all of the features incorporated into a smartphone, then a more traditional mobile option would be best, for instance. Similarly, having decided that you do want a smartphone, you’ll need to think about payment options as there are plenty of pay monthly, and no annual contract smartphones on the market. 

There are four things that you should consider before signing any agreement for a mobile phone, and doing your research beforehand can help you to narrow down your search.

Talking and Texting 

Your first consideration should be about how much time you plan to spend using your phone as, well, a phone. If you’re the kind of person who won’t be doing much text messaging, you don’t need to have 1,000 messages incorporated into your call plan. Similarly if you’re going to be using your phone for work, you might need plenty of minutes to stay in touch with the office. 

Business

That point leads me on nicely to business customers. A lot of networks have specialized packages tailor made for business users with web access and plenty of call time, giving you everything you need to do your job on the move for less in comparison to a standard call plan with business features “bolted on.” 

Technology 

Choosing a phone is like choosing any gadget, you want the one that’s filled with all of the technology that you need in your life. However, you don’t want to be paying extra for features that you’re never going to need. You can save a great deal of money by cutting the unnecessary factors out of your phone and going for a simpler option if that suits you. 

For example, if you feel as though you’re never going to get on with a touch screen keypad, you’re best off looking for a phone that comes with a more traditional QWERTY keyboard. Similarly if you’re not looking to use your phone to play music, look for one that doesn't have a built-in MP3 player or iPod that you’re paying for. 

Network 

Finally, you need to choose the network that best covers your area. While your friends and family might recommend one particular provider, they might have poor network coverage in your area. For that reason you can find out in-store how to get the best network for your call package, saving you the hassle of having to return your phone or buy out your contract to switch to a better provider.

Aussies Working Harder Than Ever Before

The Treasurer has announced that the government will finally be moving away from its commitment to budget surplus for this financial year, as company tax revenues have not met expectations and the strength of the local currency has made economic conditions more difficult to navigate through. Treasurer Wayne Swan said that deficit was now likely for the financial year ending June 2013, after months of opposition criticism and questioning about where the government intended to get the funds from. This announcement came after the Finance Department said that tax receipts for the year were nearly $4 billion below what had been predicted, at $17 billion. This sentiment goes against the promise that was delivered in 2010 when Swan earmarked Australia to be the first developed economy to see a return to surplus by 2012/2013. Many Australian banks lower rates and offering attractive promotions to clients to attract local investment. 

And as officials lament the departure of surplus and an economy that is being tried and tested through adverse conditions, workers are trying to correct their own financial situations by putting more hours in at the office, but in many cases are not being remunerated for their efforts.

Despite trying economic conditions, local workers are putting their heads down and getting more hours in at the office. This is according to census data that demonstrates how Australian workers are injecting an average of 52 extra days of overtime into the work schedule every year. According to the Australian Financial Review and 2011 census data many people are now putting an extra 10 weeks a year into their work but they are not all necessarily being compensated for it.

There are now 6.3 million full-time employees in the country earning salaries. Out of that figure 26% or 1.7 million people say they worked at least 49 hours in the week leading up to last year’s census. And it is employees, not company owners who are most likely to be putting that overtime into their working day.

If you were wondering which professionals are working hardest, surgeons top the list as putting the most hours in, followed by legislators and crop and livestock farmers who are mostly self-employed. The legal profession followers with more than 50% of people employed in the industry working more hours than average in a day. As far as industry is concerned faring and mining saw the biggest time investment but the figures did not take into account traveling or commuting to mine sites.

The statistics are enlightening considering the public’s love affair with credit and increasing household debt came to an end and was replaced with more conservative spending behaviour, longer working hours and a focus on saving in conditions that are becoming more difficult for the average household to survive.

In other news that will see more financial restrictions for some people, the 1st of January 2014 will see the introduction of FATCA or the Foreign Account Tax Compliant Act which will put foreigners under pressure to declare their earnings. The act has been drafted to address tax evasion by US residents living in other countries. This act will regulate offshore assets by forcing people to disclose any foreign financial transactions that affect their investments.

FATCA works on an opt-in basis wherein foreign financial institutions (FFIs) can collaborate with the IRS. FFIs need to agree to a reporting system, hold back on obligations to US account bearers and comply with due diligence requirements. It has been put down as optional but it is in FFIs’ best interests to sign an agreement if they want to escape the 30% withholding tax which includes income, dividends and interest payments if they do not sign the agreement.