Advantages and disadvantages of life insurance

Travel insurance

You really need travel insurance because at times your travelling can turn into a nightmare.accidents, losing your luggage, illness and your flights being cancelled are some of the reasons for the need of an insurance cover. If you get to acquire one travel cover you will have saved some thousands of shillings and you get to enjoy travelling peacefully.

International tarvel insurance could also be described as an insurance policy that will provide to you 24 hours emergency medical help.as you may know this insurance policy is not a general health insurance policy. The user is intended to use the cover in the event of a sudden illness or accident if occurred when the insurer has gone out of the country.

There is specialty assistance which must be contacted as soon as the need arises. If the insured is dying or has been involved in an accident, or has been admitted in the hospital. The company is usually not liable for any cost if there has not been an express further approval of specialty assistance. The travel policy comes with the following benefits

  • All the emergency and medical related expenses are all sorted
  • You are provided with a personal accident cover.
  • There is a reimbursement of reasonable expenses which have been incurred following the travel delays
  • There is a

    reimbursement of a personal accident cover and the accommodation expenses which have been incurred in the event of cancellation of a trip that has been insured

Travel insurance could also be arranged as you are booking your trip so that it can cover the exact time you will be on that trip. There is a multi-policy that covers a unlimited number of trips within a certain duration of time. Some policies may offer both lower and higher medical expenses as an option. The higher options are for those countries that have high medical costs for example the United States.

There are still some credit cards which offer an automatic travel insurance if at all the travel arrangements are also paid for using the credit cards. Although these policies are mostly generic and a lot of care is taken into consideration. Also there are so many Insurance policies that are readily available in the market place and you need to be very cautious at what events are being covered by each type of policy, what it excludes, and the limits applied besides any other issues.

Some travel policies provides some additional costs for some covers although they may vary in wide between the providers. If your luggage has been stolen or lost in the airline the insurance company will do an investigation first because this is something that happens a lot in travels.

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How to get advantage of Auto Insurance Covers for Financial Protection

Auto insurance

This is mainly the vehicle insurance also known as car insurance or motor insurance. It’s the AXA Insurance covering cars, trucks and motorcycles. Its main use is to provide the financial protection against any physical damage which is as a result of traffic collisions, and against any liability that could occur in vehicle incidences.

It could also offer financial protection when your vehicle is stolen and also against any damage to the vehicle. If the vehicle sustains damage as a result of weather any natural disaster

Public policies

It is a must to have a vehicle insurance ITIC cover before having any vehicle on the road .this is both to the vehicle and to the user although sometimes the degree of each may vary. Several jurisdictions have experimented with as pay as you earn insurance plan which will need to install a tracking device to your vehicle

Third party insurance

This is linked when you are having your car registered. And should be transferred when a car is sold. This covers the vehicle or any person who drives it against claims for liability in respect to death or has injured the people due to the damaged car. This covers the third party in repairing cost of the vehicle. Or any damage that may be caused as a result of the accident.it includes any type of physical damage or damage to property.

Coverage level

The vehicle insurance may cover some of the following items

  • Medical payments for the insured party
  • The property that has been damaged by the insured person
  • The physical damage of the insured vehicle
  • If the third party car has been stolen
  • If the third party vehicle has been damaged or bodily injured
  • Coverage for those people riding in an insured vehicle
  • The cost to rent another vehicle if yours has been damaged
  • The cost to tow your vehicle as it is taken to a repair facility
  • Accidents that are involving uninsured motorists

A vehicle could be insured against fire damage, theft, or accident independently AXA SG travel When a vehicle has been declared a total loss and its market value is less than the amount owed to the bank financing the vehicle, Gap insurance may cover that difference. Gap insurance is often offered by the finance company once the car is being purchased

Excess

There is an excess payment which is known as the deductible and is afield contribution that has to be paid every time car is being repaired. This payment is made directly to the accident repair garage. A garage is where the vehicle is taken for repair once it’s damaged. If your car is declared a write off meaning it can no longer get on the road then the insurance company deducts the settlement payments it makes to the owner.