Mar/110
What Does Oil Insurance Cover?
Oil insurance is a sector which covers a wide range of activities pertaining to the oil and energy industries.
Some insurance companies specialize only in petroleum companies’ insurance management, whereas in some others, the oil industry is only a portion of their clients’ portfolios. Specialized oil insurance companies however have access to a bigger market share and thus may provide numerous and advanced insurance programs which might not be available at a general insurance provider.
Cargo insurance is usually the most sought after kind of insurance for the oil sector. Such kinds of insurance premiums cover the vehicle and contents of tanks or cargo. Premiums can also cover items like third party pollution on a sudden or accidental basis, as well as spill response, environmental response and others relative claims. Under some premiums, driver training can also be secured, and spill response courses are taught.
Such insurance transactions are mostly done in the traditional underwriting methods. However, with the event of the Internet, some oil insurance companies have gone online and provide web sites and portals where insurance transactions and claims can be handled 24 hours a day, 365 days a year, from all over the world. These sites are however underwritten by specialized insurance firms. It in turn drastically reduces costs and response time between claims and settlement, since everything is handled in a no-paper, electronically-secure environment. Certificates and other necessary documents are available at a fraction of the time they would have taken in the traditional route.
Oil insurance can also pertain to insuring of oil rigs and wells, as well as the whole oil drilling business. Rigs and wells insurance holds a market cap value for insurance. However, this aspect of the oil insurance industry has undergone some changes and alterations after the event of hurricanes Katrina and Rita a few years back. Recent amendments in the guidelines of the National Insurance Commission (NAICOM) have also altered the set-up for oil industry insurance, especially where the syndication of insurance in overseas countries is concerned. This was done in an effort to boost indigenous participation in the gas and oil industry.
Feb/110
Car Insurance Tips For International Students
When you are an international student studying in the US, it can be a bit confusing with the new culture and possibly even a new language. Often the simplest things can be difficult to get the hang of. Things like car insurance can be a whole new challenge when you are not familiar with the process or the rules.
If you`ll be driving in the country you plan to study in, you will want to have car insurance. Most students are on a budget anyway and having to deal with the cost of an accident, no matter how minor is usually a big dent in the budget, particularly if you were at fault.
- Look for a car insurance provider that doesn’t penalize international students. Many companies will insist on a minimum of 3 years US driving experience in order to qualify for lower rates and higher coverage. Since the majority of international students have little or no experience driving in the States, they will end up paying more for less coverage. A very few insurance companies will count foreign driving experience and offer lower rates and deductibles.
- While liability is the minimum requirement by law, it`s a good idea to find out how much more you`ll pay for collision insurance, as well as comprehensive. Liability covers your passengers or property that you damage in an accident, collision will cover repairs to your vehicle if you crash, even if the accident was your fault. Comprehensive insurance is meant to help you recover your financial losses if the vehicle is stolen or destroyed by means other than a car accident.
- Keep the age of your vehicle in mind. Older cars usually aren`t worth insuring for anything more than liability, since you would be better off replacing the vehicle than repairing it in most cases. Newer cars will need to be insured for more since it`s usually far cheaper to repair them than buy a new vehicle. The general rule of thumb is that a car older than 1989 should carry liability only.
- Look for fixed rates. Some car insurance companies will let you sign up for 6 months or 12 months, where your rates will not go up, even if you have an accident during that time. Obviously, the longer the term, the better.
- Make sure you have an up-to-date international driver`s license. This will allow you to drive both in your home country and in the US. Most international students have no need for an American driver`s license, so an international one should be fine. Just be sure that it is good for at least six months after your stay ends so you`ll be able to get the best car insurance possible.
- Bring all paperwork that could be necessary with you when you apply for car insurance. You`ll need proof that you haven`t had an accident in the previous 18-36 months for the best rates. All driving related paperwork will help you out when applying for car insurance and can drastically cut the waiting time, as well, since you won`t be trying to get your papers from your home country.
Car insurance for international students might be a bit tricky, but it mainly comes down to doing some research to find which companies will give you a break, even if you haven`t been driving in the States for the past three years. The prices and amount of coverage should be fair and not hiked up just because you are only temporarily in the country.
Nov/100
Cheap Car Insurance – Young Driver, These Will Help You Lower Your Rates
Cheap insurance: A young driver is certainly not the most favored person in auto insurance. The younger a driver is, the higher the risk associated with insuring such a person. A teenager will cost much more than a twenty-five year old. To make matters worse, if this young driver is male the cost of it goes even higher. Here are things that will lower your rates dramatically…
But first, why such high rates once a driver is young? A young driver is usually less experienced than an older one. This makes them have a poorer response in road situations. In addition, younger persons are generally less safety conscious as a group than their older folks. These two combine to make them such a high auto insurance risk. Teens, for example, account for more crashes than all other age groups combined!
Now to things you can do to get cheap car insurance as a young driver. It would have been best if you could just get older. But, for that, we’ll have to let time take its course. Do these and you’ll get massive savings…
1) Take courses in defensive driving. Defensive driving courses that are recognized by your auto insurance provider will definitely lower your rate.
2) Use a smaller car. Avoid sports cars and cars that fall into “expensive to insure” category. If in doubt, ask. But a general rule is: Big cars, expensive cars, sports cars, cars with a high theft rate are much more expensive to insure.
3) Make sure you buy a car that has safety features. There are cars that have a high safety rating. These will help you get affordable auto insurance.
4) You can be on your parents’ car insurance policy. However, for this to work you’ll have to live with them and have your car registered in their names.
5) Get only A’s and B’s in school. A good grade is often rewarded by companies.
6) Reduce your mileage as much as possible. The more you drive the higher your risk to the car insurance provider.
7) Get quotes from reputable quotes and comparison sites. This is the no-brainer way of ensuring you get cheap car insurance. If you really want the lowest cost on it, visit at least three of these sites (Just make sure you input the same information in all three sites). It will take you a total of only 15 minutes but will save you a few hundred dollars.
Aug/100
Car Insurance – Flood Advice
With heavy rain predicted across the UK, the newspapers and television reports warn us of impending flood dangers. A majority of such reports tend to focus on the damage sustained by homes and businesses.
Flooding can also affect vehicles, sometimes leading to thousands of pounds worth of repairs needed for flood damage. Road users are also at a risk, even those who don’t live in areas at risk of flooding.
But there are steps you can take in order to prepare yourself, your vehicle and your finances in case of flood damage:
Check that your car insurance policy will cover you in the event of flood damage. Most fully comprehensive policies will cover flooding as standard. However those on ‘third party, fire and theft’ policies may find themselves having to pay a little more for flood damage cover.
If a flood warning has been issued in your area and you’re unsure as to your cover, contact your motor insurance provider to double-check any details before setting off on a journey.
If a flood warning is issued in your area, try and store your vehicle on higher ground if you are able to.
If you need to travel during flood conditions, be sure to leave plenty of time for your journey.
Make sure you let someone know of the planned itinerary of your journey, including departure times and an approximate return time – this information can be valuable to emergency services should you become stranded.
Keep a watchful eye and ear on your local radio and TV weather and travel reports, take time to research alternative routes in the event of road closures in flood-prone areas.
Pack a small bag with a change of clothes, food and drink and a fully charged mobile phone in case of emergency.
When driving during flooded conditions it is important to take precautions, both before and after your journey:
Drive slowly and cautiously, leave plenty of space between yourself and the car in front, remembering that braking distance is reduced in wet conditions.
Drive very carefully around flooded parts of the road, keeping to the highest possible point. Do not attempt to travel through flooded patches if you’re unsure of the depth.
If you have to travel through flood water, drive at low speed and be vigilant for any debris or other obstacles that could cause damage to your vehicle.
Once clear of the water, use gentle braking to dry your brakes, but ensure it is safe to do so before taking this step.
If your car has suffered flood damage, do not attempt to switch on the ignition, and check the outside of your vehicle for any damage.
It is important to get your car examined by a qualified mechanic at the earliest opportunity following floods to assess the damage caused by flood conditions. It is also advisable to contact your motor insurance company to check if you’re eligible to claim for any damage.
Jul/100
Philadelphia Car Insurance
Just like anywhere else, if you shop around for car insurance in Philadelphia, you could save an average of 481 every six months. The average six-month variation in Philadelphia is $595. The findings, according to Progressive Auto Insurance, focus on auto insurance rate variance – or the average spread between the highest and lowest six-month rates available for new policies. The rate information, in the case of Philadelphia, comes from public filings with Philadelphia’s Department of Insurance. What this basically means is that a Philadelphia could get a quote of $1,250 for a six-month policy from one insurance provider and a quote of $770 from another company for the exact same coverage.
In 2005, drivers across the country saw slightly lower costs in insurance with the average Philadelphia car insurance rates dropping about $268. It matters where you live. New York auto insurance dropped by 3.4% in 2005; yet, New York is one of two most expensive states for auto insurance. This is because of limited parking, more traffic, more car theft and more uninsured drivers. The other highest insurance premium state is Louisiana.
Also, like other states, other factors that Philadelphia car insurance companies take into consideration when offering you insurance is how many driving violations you have, the type of vehicle you drive, how many accidents you?ve been in, your credit rating, your occupation and your age. If Philadelphia drivers and all others know the discounts they could take advantage of they would save a lot of money. You should always shop around and research any policy before you buy it. You need to understand how you can reduce your rates through policy-related discounts (how old your car is, etc.), vehicle-related discounts (based on the model of the car you buy) and driver related discounts (age, driving record, etc.).