Your Car Insurance Payout Right-On Or Write-Off?

Your Car Insurance Payout Right-On Or Write-Off?
Customers of some insurers, who have had their cars written-off, report they have got less money than they expected.
Kath Jukes, a policyholder at LV=, was involved in an accident where her car was declared a write-off. She had paid more than £7,000 for it and had clocked up only 16,500 miles. LV= gave Mrs Jukes a cheque for £4,300 after finding that two cars in her area in a similar condition cost that amount.

However, Mrs Jukes tracked down the two cars and reported that one was not within her local area and the other had been sold. Furthermore mechanics informed her that due to the low mileage of her car it would cost up £500 to £725 more to fix than her insurance company had given her.

Mrs Jukes said: “LV= has made the whole thing enormously stressful. I can't buy a car for its valuation in this area, especially one with such a low mileage.”

LV= have since raised the amount to £5,000 and waived the excess.

Jonathan Lelliot, a customer at Norwich Union, has been attempting to raise his insurance amount for his written-off car. He was offered £3,000 but has seen similar cars in his area for sale at £600 to £1000 more. Mr Lelliot sent photos of his car to the insurers to show its condition but the Norwich Union have not increased his payout.

“With two children we need two cars,” he said, “Norwich Union is being very difficult. I'm not trying to get more than I think the car is worth I just want a fair payout.”

Discrepancies can occur when insurance companies estimate the value of a car which lead to policyholders being disappointed when they receive a payout because their car is written-off.

The valuation by the insurers does not always take into account the region the policyholder lives in and the time of year. For instance urban areas may not have the need for Landrovers so they will generally cost less there than in a rural area. Cars with retracting roofs will be more in demand in milder months rather than the winter months.

Valuations by insurance companies have also been reported to decrease because the insurer does not take on board that the car was in good condition.

A spokesman from the Financial Ombudsman, said: “It is expected that cars driven for a number of years will show signs of wear and tear. We would not expect to make deductions for minor imperfections that have been the result of wear and tear.”

Another point raised by disgruntled policyholders is that quite often that those who receive a cheque from their insurance company for their written-off car do not know that if they cash it they are accepting that amount. Consequently they are unlikely to receive additional cheques. The advice is to cash the cheque and include a letter explaining that cashing it is not acceptance of the car's valuation by the insurance company.

For those concerned about decreased value of their car they can consider Guaranteed Asset Protection Policy. This is a kind of car insurance that covers the shortfall between what is paid by the insurance company for a write-off and the amount the insured originally paid for the vehicle.

Linsey is an author of several articles pertaining to Car Insurance. She is known for her expertise on the subject and on other Business and Finance related articles.

Finding an Affordable Health Insurance Provider

If you are looking for an affordable health insurance provider, this is the right article for you. When we look for a health insurance provider, we also have to take into considerations the price of it. Of course, the more affordable, the better. Before you get a health insurance policy, you may want to consider these questions first. Are you a student? Are you currently employed? If yes, does your employer have health insurance available? If your work does give health insurance, but you are a new employee and needs to wait for a certain period of time before you get the privilege, are you looking for a provisional health insurance plan? Are you looking for individual insurance or do you need a family plan?

I asked these questions because these are the most important things to consider and be sure, before finding and picking a health insurance provider. There are a lot of things involved when you are trying to find an affordable medical insurance policy. The questions that I asked will also be asked to you by the agent to whom you’ll get your insurance policy. They'll need to be able to know what you really need in order for them to provide you with the best health insurance policy that suits your needs.

Aside from that other questions will be "do you have any present illnesses that we should be aware of?" They will provide you a long list of selections to choose from. Make sure that you are fully sincere. Just because you may have a medical condition, such as diabetes, having illness doesn’t necessarily mean that they will disqualify you. The insurance Underwriter will likely review your application and have you either take a physical or at least a few more tests before they make a last decision.

There will be many factors implicated in finding an affordable health insurance provider and various questions will be asked to you once you decided on something that fits your needs. As for that, patience and perseverance is the key here. For more expert information on Health Insurance Help, please visit this site. Ray is the Owner & Developer of ReleaseMyDebt.com, A website which connects all of the financial industry together. May it be to network, share websites, videos, get questions answered, and much more. debt help

Five Features of Term Life Insurance

The term insurance provides protection against death of an individual for a give term period. It is one of the best policies for short-term protection of the family. There are many positive features of term life insurance policy give some kind of freedom to the insurer so that the customer feels more flexibility under the term life insurance policy.
The most important features are:

Convertibility: In term life insurance policy the policy offer convertibility from the term life insurance to individual whole life term or annual renewable term policy. It will be apply in all States. The convertibility provides facilities to the insurer to changing from term insurance policy to the individual whole life term or annual renewable term policy.

Decreased Term: The term insurance is always available in the decreasing term. In the decreasing term the premium remain same but the face value get reduce every year. It is good choice than the other term. But the reducing of the dropping value will affect you because it does not get death benefits as you expected if you live long.

Changes in Premium: The premium may be increase or decrease based on the proposed earning, mortality, tenancy or disbursals. The state authority has increase or decreases the premium upto define level. It is good that the premium amount may not be increase as utmost level stated in the policy.

Renewable: The term insurance policy is renewable. It permits the insurer to carry on with the present term policy with the all benefits. The insurer must have to follow the rules and he/she must perform the medical examination to extend the date of renewal. The premium will be changes depend on coverage and time period.

Term Rider Facilities: The term insurance provides term rider facilities for the child and the spouse. It is important to give term rider facility for child up to 18 years. While spouse rider available for 20-year period. The term rider facilities are available with some additional premium. It will convert it to individual whole life incase of spouse and child.

The term insurance is good for security for the family in the short-term period. It is very much flexible in nature and have always been considered as the best policy.

Christy Myers is a writer for Term Life Insurance Quotes , the premier website to find term life insurance, term life insurance quote, term life insurance quote online, term life insurance Company, term life insurance policy, term life insurance online and many more.