We've Got You Covered With Travel Insurance

Travel Insurance Coverage Guide

Understanding what travel insurance covers and whether you need it

Planning to be traveling soon? Should you buy travel insurance? It's a tough call whether spending the extra money is worth it. Are you over 50? Travel insurance goes up significantly as you get older. If you are spending a lot of money on a trip, travel insurance is a must-have.

Travel insurance covers these basics:

• Trip Cancellation or Interruption
• Medical Emergencies
• Emergency Evacuation
• Lost or Delayed Baggage
• Flight Delays and Cancellations

Travel Insurance - What Does It Mean For You?

Trip Cancellation vs. Trip Interruption

Trip Cancellation refers to canceling before your trip whereas trip interruption refers to a problem during your trip. What if you or one of your travel companions gets hurt or sick and you need to cancel your plans? This is where travel insurance comes to the rescue.

Medical Coverage Abroad

What if you have a medical emergency? Suppose you are covered by your medical insurance? You might be. But most medical insurance policies do not cover you outside of the United States. Medicare never covers you when traveling abroad. Find out if you are covered when traveling to your next destination.

What happens if you do get sick and need to be airlifted? Or you need medical care on your flight home? This can be very expensive.

Important: Most domestic health insurance policies provide little to no coverage outside your home country. Medicare provides no coverage abroad. Travel medical insurance is essential for international trips.

Understanding Coverage Types

🧳

Lost or Delayed Baggage

Have you arrived at your destination just to find that you have no luggage? Travel insurance will pay for essential items until your luggage is found and delivered to you. Make sure to have a list of items you packed and keep receipts.

✈️

Flight Delays

Did you get to the airport just to find out your flight has been delayed? Travel insurance will reimburse you for hotel stays and meals while waiting for the next flight. Note that delays caused by your own actions (like traffic) typically aren't covered.

🏥

Medical Evacuation

If you become seriously ill or injured while traveling, medical evacuation coverage can transport you to an appropriate medical facility or even back home. This can cost tens of thousands of dollars without insurance.

❌

Trip Cancellation

Covers prepaid, non-refundable expenses if you need to cancel your trip for covered reasons like illness, injury, or severe weather. Some policies offer "cancel for any reason" coverage for additional peace of mind.

Travel Insurance - Do I Really Need It?

Check Your Existing Coverage

Before purchasing travel insurance, check what coverage you might already have:

• Homeowner's/Renter's Insurance: May cover lost luggage but check the maximum payout amount
• Health Insurance: Verify what's covered when traveling away from home and if international coverage is included
• Credit Card Benefits: Some cards provide limited travel insurance if the trip was booked with that card
• Airline Credit Cards: May offer better coverage when traveling with that airline

Note: Both health insurance and credit cards typically do not cover emergency medical evacuations or many trip cancellation scenarios. Read the fine print carefully.

Reading the Fine Print

Once you decide you need travel insurance, read the fine print carefully:

• Check for time limits regarding when you must purchase insurance before your trip
• Verify that your entire trip duration is covered
• Confirm your destination is covered (some policies exclude certain countries)
• If the government advises against travel to a destination, you may not be covered if you go there anyway
• Disclose all medications you're currently taking - failure to do so could void your policy

"Cancel For Any Reason" Coverage

What if a family member back home gets sick and you want to cut your trip short? Most travel insurance policies do not cover this unless it's a death in the immediate family.

There's an option called "cancel for any reason" coverage. If you have elderly relatives back home or simply want maximum flexibility, consider this option for peace of mind. This would allow you to cut your trip short and return home for any reason - even if you just changed your mind and decided not to go.

Final Recommendations

Check the fine print and decide if purchasing travel insurance is right for you. Consider the cost of your trip, your existing coverage, and your personal risk tolerance. For expensive trips, international travel, or if you have pre-existing health conditions, travel insurance is often a wise investment.

You may be glad you purchased it when unexpected situations arise during your travels!

Read More

Car Insurance Quotes Comparison

Compare Car Insurance Quotes & Save Money

Learn how to find the best auto insurance rates with online comparison tools

Home > Insurance Guide > Car Insurance Comparison

Many people who own car insurance tend to let their policy stay the same year after year. If you never update your information with your auto insurance company, you could be paying quite a bit more for your insurance than you need to.

If you own a computer and can get online, you can compare car insurance quotes from several different insurance companies to see if you are paying more than you should be paying for your current insurance.

Who Benefits Most From Comparison Quotes?

Anyone who owns a car and pays for auto insurance can benefit from online comparison quote technology. The quotes that you receive are tailored to the information that you provide about yourself and your lifestyle.

No matter how old your car is or how long you have been an insurance customer, you will probably learn something new about your insurance rates if you take advantage of comparison quotes. The quote system allows you to choose as many quotes as you would like. It is suggested that you look at three or more quotes to gain an accurate understanding of the differences between the policies of different insurance companies.

Each insurance company has a different system for determining your premiums, which means that there are probably companies that would offer you a less expensive premium with the same features. There are also probably insurance companies that would charge more for the same service. The only way to know what you ought to expect from a car insurance company is to put each quote side by side and compare the details of each policy directly.

How Often Car Owners Should Check Their Options

Everyone should look at a new set of auto insurance quotes at least once a year. The reason for checking your quotes more often is that you experience life changes regularly. Many things could happen in your life in the course of a year that would have a direct impact on how high your insurance rates are.

Since most insurance companies offer premiums on an annual basis, it makes sense to consider your insurance options with your updated information each year. You may find that your current premiums are standard for your particular demographics, but you may also find that you could save money by switching carriers.

There are other times in your life when it makes sense to check insurance quotes. When you move from one home to another, your rates could be dramatically changed. You should compare new insurance quotes when you:

• Change jobs or get a promotion
• Graduate from school
• Get married or divorced
• Buy a new car
• Add or remove drivers from your policy
• Improve your credit score

Any time that your life changes in a substantial way, your car insurance premiums can change. There is no reason to continue paying an insurance rate that you qualified when you first bought your car if your demographics have shifted since then.

Things That Impact Insurance Rates

Insurance rates can be affected by several different things. When your premium was originally established, the insurance company examined all of the risk factors for an accident that were present in your personal information.

Location Factors

If you live in an area that experiences a high number of car accidents, your rates will be higher. Urban areas typically have higher premiums than rural areas.

Driving Habits

If you drive a long way from home to work each day, your rates would go up. The more you drive, the higher your risk of accidents.

Personal Factors

Your age, gender, and driving history all affect your insurance rates. Some factors won't change, while others like your age are constantly changing.

Buying a new car can cause your insurance rate to change quite a bit. When you purchase a new car, it is the best time to look at your auto insurance options because you are opening a new insurance account. The make and model of the car, as well as the age and condition, are all significant points that can alter your insurance rates.

Pro Tip: Using an online insurance quote system will allow you to compare several different quotes on your new car at the same time, which can cut down on the amount of time you spend talking to insurance agents and trying to find the best policy.

Multiple Quotes are More Helpful

The more quotes you receive, the better informed you will be. If you only look at one or two online quotes, you will have very little information from which to work. It is possible that the two quotes you choose are the highest rates available for your car. They could be dramatically different.

If you choose to look at three or more quotes, you will have the opportunity to see a better range of prices from a range of different companies. You may find that a pattern emerges that gives you a good idea of the kind of insurance coverage that would be the most affordable for you.

Online quotes are a powerful tool to help you find the most attractive rates on your car insurance coverage. It makes sense to compare several insurance companies at once so that you can experience the full spectrum of coverage options that are available to you. One or two quotes will only give you a small piece of the insurance premium puzzle to work with.

How to Find Online Auto Insurance Quotes

Finding online auto insurance quotes is very simple. All you need to do is enter your zip code into the field at the top of this page to begin the quote building process.

Ready to Compare Car Insurance Quotes?

Start saving money today by comparing multiple insurance companies side by side. Get free, no-obligation quotes in minutes.

Get Free Quotes Now

Make sure you select three or more quotes from different insurance companies so that you will have a decent amount of information to work with as you make your auto insurance decisions. Once you receive your quotes, you can contact the companies you are most impressed with and create a new auto insurance policy that fits your budget and your coverage needs.

The quotes offered through this site are from traditional insurance companies as well as web-based companies.

Frequently Asked Questions

How often should I compare car insurance quotes?

You should compare quotes at least once a year, or whenever you experience a major life change such as moving, buying a new car, getting married, or changing jobs.

Will comparing quotes affect my credit score?

Most insurance quote comparisons use a "soft pull" that doesn't affect your credit score. However, it's always good to confirm with the specific provider.

How many quotes should I get when comparing?

It's recommended to get at least 3-5 quotes from different providers to get a good sense of the market rates and coverage options available to you.

Final Thought: Don't let your car insurance policy remain stagnant year after year. Taking just 15-20 minutes to compare quotes annually could save you hundreds of dollars while ensuring you have the right coverage for your current needs.

© 2023 Insurance Guide. All rights reserved.

Comprehensive information about car insurance comparison and money-saving strategies.

Read More

Life insurance contract: who are the stakeholders?

Life Insurance Participants Explained

Understanding the roles of insurer, subscriber, member, insured, and beneficiaries in life insurance contracts

Home > Insurance Guide > Life Insurance Participants

In a life insurance policy, several key participants are involved: the insurer, the subscriber, the member, the insured, the life beneficiary, the death beneficiary(ies), and the deceased. Understanding these roles is essential for proper policy management.

Depending on the legal structure of life insurance contracts (individual vs. collective), the identities and roles of subscribers and members may differ significantly.

The Insurer: Risk Management Entity

The insurer is an approved corporation whose role is to define and manage the risk associated with human life expectancy. This risk management materializes through the guarantee of capital either in case of the insured's continued life or in case of death.

Insurers are directly regulated by the Ministry of Economy and Finance, and are represented by:

• FFSA (French Federation of Insurance Companies) for commercial companies
• GEMA (Mutual Insurance Companies Group) for mutual societies

The Subscriber: Contract Owner

Individual Life Insurance Contracts

In individual life insurance policies, the subscriber is the owner of the contract (the customer). The life insurance policy is the subscriber's personal property. As such, only the subscriber has the authority to designate beneficiaries in case of death.

The subscriber holds exclusive rights to manage the contract, including:

• Making investment decisions (arbitrations) within the contract
• Requesting total redemption or partial withdrawal
• Requesting advances
• Making premium payments
• Accessing contract information at any time

Collective Life Insurance Contracts

In group life insurance contracts, the subscriber is the legal entity subscribing to the contract on behalf of its clients (who become members). The subscriber, necessarily a legal entity, establishes the membership rules.

In these arrangements, the insurer cannot modify contract terms without the subscriber's agreement. The member in a collective contract holds many of the prerogatives that the subscriber has in individual contracts.

The Member: Contract Participant

In individual life insurance contracts, the client is typically both subscriber and insured. These roles are linked in the same person.

In collective life insurance policies, the client is a member-insured, distinct from the subscriber. These roles remain separate entities with different rights and responsibilities.

The Insured: Risk Subject

The insured is the physical person (always an individual) upon whose life the risk is based. The insured typically has no special prerogatives over the contract management.

Who cannot be insured? Certain categories are excluded from being insured:

• Minors under 12 years of age
• Legally incapacitated adults
• People placed in psychiatric facilities

Beneficiaries: Recipients of Benefits

Life Beneficiary

The life beneficiary is the person designated to receive the capital at the maturity of the life insurance contract, assuming the insured is still alive.

Death Beneficiary

The death beneficiary receives the capital in case of the insured's death during the contract term. This role is central to the purpose of life insurance protection.

Participant Requirements and Characteristics

Participant	Requirements & Characteristics
Subscriber / Insured	Natural person Individual policyholder Must be of legal age Must have legal capacity Can be French or foreign* Contract is personal property domiciled in France Signs subscription documents Cannot change their status as subscriber
Beneficiary	Can be natural or legal person* Multiple beneficiaries possible* Can be born or unborn persons Can be changed by subscriber Can accept or refuse benefits* Receives benefits if insured alive at contract maturity* Receives benefits if insured dies during contract

* Specific conditions apply

Frequently Asked Questions

What is the difference between the subscriber and the insured?

The subscriber owns and controls the life insurance contract, while the insured is the person whose life is covered by the policy. In individual contracts, these are often the same person, but in group contracts, they are separate.

Can I change the beneficiaries on my life insurance policy?

Yes, as the subscriber, you typically have the right to change beneficiaries at any time, unless you've made an irrevocable designation. This flexibility is one of the key advantages of life insurance.

What happens if the subscriber and insured are different people?

When the subscriber and insured are different, the subscriber maintains control over the policy and pays premiums, while the insured's life is what triggers the death benefit. This arrangement is common in business or family situations.

Understanding the different participants in a life insurance contract is essential for proper policy management and ensuring your wishes are carried out. Each role has specific rights and responsibilities that affect how the policy functions during your lifetime and how benefits are distributed afterward.

Key Life Insurance Terms

• Insurer - The company providing insurance coverage
• Subscriber - The owner of the insurance contract
• Insured - The person whose life is covered
• Beneficiary - Person receiving policy benefits
• Premium - Payment for insurance coverage
• Death Benefit - Payout upon insured's death

Popular Insurance Topics

Life Insurance Basics Policy Types Beneficiary Designation Premium Payments Tax Advantages Estate Planning

Did You Know?

Life insurance dates back to ancient Rome where "burial clubs" covered funeral expenses and provided support for families. Modern life insurance began in 18th century England.

© 2023 Insurance Guide. All rights reserved.

Comprehensive information about life insurance participants, policy roles, and contract management.

Read More

What is the insurance?

What Is Insurance? A Complete Guide

Understanding how insurance protects individuals and businesses from financial risks

Insurance is, by definition, a system that protects an individual, an association or an enterprise against the financial and economic consequences of the occurrence of a particular risk (random event).

The means implemented by the insurance organizations to protect them against this risk is to associate them with a community of people (the insured), who contribute to be able to compensate those among its members who would suffer material damage or in the event of risk realization. Thus, insofar as it is the entire community of insured persons who materially bear the damage suffered by its members struck by the realization of the risk, insurance is a risk management system based on the concept of solidarity.

The Actors of Insurance

In France, there are three types of insurance organizations, governed by three separate legal codes:

• Insurance companies, which fall under the Insurance Code
• Mutuals (groups) governed by the Code of mutuality
• Provident institutions whose activities are regulated by the Social Security Code

The insurance world is not limited to insurers alone, but engages many other players. The field of insurance covers in particular all trades that are carried out in companies whose activities are governed by the Insurance Code, namely:

• Trades practiced within public limited companies (SA)
• Trades practiced in mutual insurance companies (SAM)
• Trades practiced in mutual insurance companies (SMA)
• Intermediary trades such as general insurance agents and brokers
• The professions of insurance auxiliaries represented by insurance experts

The Different Types of Insurance

The European Community Directives distinguish two types of insurance:

Non-Life Insurance

Property insurance, liability insurance and health insurance.

Life Insurance

Life, death, savings, retirement and more.

This distinction between these two types of insurance is based on the difference in the way premiums are managed. In fact, non-life insurance generally manages premiums on a pay-as-you-go basis (the group management method where the premiums of the community of insured persons are used to pay the claims of the community of insured persons for the same financial year), while the life insurance manage them by capitalization (individual management mode where the premiums of the insured are used to deliver him a benefit at the time of the occurrence of the risk).

Alongside this distinction between non-life and life insurance, there is another distinction between:

• P & C insurance (Fire, Accidents, Miscellaneous Risks): they combine property and liability insurance
• Personal insurance: they combine health insurance and life insurance.

From a general point of view, insurance companies are considered as institutional investors; indeed, they have at their disposal a huge mass of money consisting of the premiums of the insured; they must therefore manage these amounts on behalf of the insured and sometimes for a long time. Insurance companies therefore have a huge capacity to finance the national economy, through the investments they have to make, especially in the context of the budget deficit.

Roles of Insurance

Insurance aims to protect wealth and people, but also plays an important role in the economy:

• By making business relationships more reliable
• By playing an important role as investor of the national economy
• By promoting investment

Insurance also plays a social role. The benefits paid to policyholders and beneficiaries of contracts allow them:

• To maintain their income
• To restore their heritage
• Not to be the responsibility of the public authority for the victims of accidents
• To save jobs, skills
• To preserve the economic fabric.

Life Insurance

At the individual level, life insurance has a security function in the sense that it guarantees people against the risk of death. In the event of death for example, the insurer will pay a capital mentioned in the contract to the designated beneficiary. On the other hand, it can also allow the insured to build a capital or an annuity in life insurance; it then plays a savings function. Another characteristic of life insurance is that it can constitute for the policyholder a credit instrument by the possibility of obtaining from the insurer.

Reinsurance

Little known to the general public, reinsurance is a sector of the economy essential to the insurance business. In addition, it is a key instrument for any organization.

© 2023 Insurance Guide. All rights reserved.

Read More