Category Archives: Finance

Why is it Illegal to Drive Without Auto Insurance?

Now this is a question that people have been asking for quite a while; why is it illegal to drive without any type of auto insurance at all? The answer to this question is very simple at first; but is also very complex as well. The main reason that you cannot legally drive without any type of auto insurance coverage is that there is nothing and no one that is there and able to pay for the damages done to other vehicles and the occupants of those vehicles as well as paying the medical bills of those who are injured.

That is the simplest explanation and reason that you cannot drive a vehicle without any insurance coverage. Another part of the answer to this question is that there will be no records of payments (for repairs and medical expenses) made to anyone else involved in the collision(s)/wreck(s) that you have created if you do not have any type of auto insurance coverage. Without these records and the insurance company’s paperwork you might be facing more legal trouble that you even know what to do about.

Another reason that you are not allowed to drive any vehicle without proper auto insurance coverage is that it is just plain irresponsible to do this. Not only are you leaving yourself wide open to traffic tickets galore, but you are also leaving yourself wide open to being sued by the other driver, the municipal/ local police and any other authority that find out that you have broken the law. There are very few, if any areas, in which you do no need auto insurance to be able to legally drive a car. The main reasons there is the cost of medical care, also of repairs to any structures that get damaged and of the injuries that could be inflicted by careless driving on your part.

Should You Pay Your Bills Online?

In the past, people paid their bills in the form of cash or checks. They would put their checks in a stamped envelope and send it to be processed.

This could take a week or so. Nowadays, more people pay their bills online.

While there are several different ways to make payments online, perhaps one of the most convenient ways of using a payment system is by means of your bank, like in the presence of bill pay.

Reason to Use Online Bill Pay

The benefits given by online bill pay via your checking account is not offered by other payment methods. Firstly, it allows you to arrange payments for every bill you have from one location rather than manage your payments on different sites. This lets you keep due dates, making sure that you pay all your bills on time. The other advantages are the following:

  • Avoid overdraft fees. If there are no available funds, payment will not be sent.
  • See all pending bills beforehand.
  • Safeguard your personal information and not make the mistake of entering your bank account details on other sites.
  • As needed, change the amount or date of payment without having to go to another website.
  • Arrange automatic payments for monthly expenses such as your cable bill or auto insurance.

Furthermore, online banking makes it easy to keep a record of your balance. This way, you won’t wonder when payments will be posted or checks will be processed and taken away from your account.

Ways to Benefit from Online Bill Pay

Though it would be advantageous to have an online bill pay with your bank account, if you want to maximize this, it would help to use it regularly. To let your bill pay work to your best advantage, you should learn how to handle your payments.

First of all, you have to get the contact details of each company you want to send your payments to and include them as payees. Most companies are added in the banks’ systems, making it easy for you to get all the information needed. The majority of banks send out checks to payees not accepting ACH payments. You just need the payee’s name, address and contact details, as well as the account number.

The payment should be scheduled for every payee on or before the due date. You have to know your bank’s policy, including the date when the payee will receive the payment to avoid late fee charges. When the payment has the same amount and the same day on a monthly basis, arrange a repeat payment so you will never miss paying your bill on time.

Using online bill pay for your payees and automatically setting up payments will let you use less time in paying your bills and managing your finances. Also, your payments are recorded in case any problems arise.

Nothing has been easier than paying your bills via online payment services. Using online billing to handle your finances saves money, time and effort, since you can look after your payments and monitor your balance from one location. Since online bill pay offers all the aforementioned benefits, paying cash or checks in envelopes are now considered a thing of the past.

Cheap Auto Insurance Quotes For Imported Vehicles

Due to the high cost of retail nationally, most people choose to import cars. If you are not careful, after buying a car the money could be negated very fast by high car insurance prices. Because the car coverage complaints are not really familiar with vehicles like Mitsubishi Pajero, Eunos roadster and Toyota estima, they are at times regarded as risk by insurers. Due to the fact that their repair cost could be very high, they might not be suitable for UK roads and could be hard to find. This sum up to a higher premium for the consumer and consider more risk for insurers.

Grey imports are cars that are not approved by EU and are not up to the European standard. They have high cost on car policy and it is wise to have an auto insurance quote before buying the vehicle because of the high price. Vehicles that are bought outside the UK and built with right- hand drive are called parallel imports. They are known for less risk because they are up to the UK standard and their insurance cover is easy to find. Now to obtain cheap auto cover for both the grey and parallel imports, the following are steps to take.

Conduct a market survey, make sure you have a through market overview. There are comparison website which will help you compare deals on the offers for specialist Imported car coverage. You can also search for offers on unique policy options that suit your vehicle.

If there are many modifications on your car, the premiums will be high. Therefore, ensure you have limited modifications to your vehicle. To get a cheap car, go for a car with no additional charges with a right-hand drive in order to avoid high premiums.

Are Motor Insurance Quotes Legally Binding?

Q: Are the motor insurance quotes I receive from insurance companies binding? If so for how long?

A: The answer to that is yes and no. Let us explain. If you receive motor insurance quotes from an insurance company – then that is the price they are going to charge you.

However, they are not legally bound to quote you the same price if you call them back three days later.

It is likely you will receive the same quote from the same company provided there were no incidents from when you first received the quote, but just because it is likely doesn’t mean that the company is bound to stand to by the earlier quote.

A good way to find out how long the quoted rate is good for is to ask the agent or representative who is giving you the quote. Be wary of a hard sell at this point however as the agent is going to realize you will be requesting quotes from other companies.

Motor insurance quotes are liable to change suddenly due to market changes, new insurance legislation, or a driving offense that may have occurred. To avoid this we recommend doing all of your insurance shopping over a one or two day span. This will ensure you get the price that was quoted to you.

Lastly, we strongly recommend that you take comparison shopping seriously when it comes to finding the best deal on auto insurance. While it may sound like common sense, there are many drivers who don’t take the time to compare quotes from different companies and end up overpaying for their coverage as a result.

How to Find Auto Insurance Discounts

Finding for the insurance that would suit you and also your financial status?

Don’t fret as there are various ways on how you could get the best rate out there with just a number of guidelines.

Quality insurances are all available everywhere, the only problem is finding and also utilizing them to the fullest. Hence, below are some methods on how you can get auto insurance discounts.

One of the best ways to get discounted insurance would be to acquire about various schemes online. The internet has a wide source of information that would enable you to compare the best insurances out there and also at the right prices that would suit you. Always start of by searching on insurances that are available near your residence. Once you’ve done that, go to each and every webpage that might interest you and write down what you find most attractive about that particular insurance scheme that you are viewing for your vehicle. By doing this, you’ll be able to compare and contrast each and every insurance that you’re interested in easily and make a choice.

Besides that, online insurance hunting will also enable you to get to know on the types of auto insurances available and would eventually increase your knowledge on the topic. Get to know on what you’re getting yourself into as you’ll know what to do and what not. Auto insurance discounts can also be inquired on through the online customer service available by most insurers. With the information age upon us, communicating and also inquiring about a particular insurance has never been easier. You could just ask any questions that you are not sure about to their customer care and they will inform you about it.

Newspapers are also another medium on how to get discounted auto insurances. Most companies would always publicize their newest insurance policy to get the public’s interest. Hence, be at your toes on any new insurance schemes available and you might eventually get a good rate out of it.

Insurance agents are also a handy way on getting the best rates out there. Taking that into view, take time to meet up with one and explain on what you’re looking for in your auto insurance. They might also help you understand on the terms and conditions involved and eventually guide you through the rest of the application process. These are some of the methods on how you could get the best rates out there on your next auto insurance.