Insurance World

There are approximately 20 various types of insurance policies available and auto, home, life and health top the charts.

The concept of insurance has been recorded to be first practiced as far back as 2nd and 3rd millennium B.C. Just about anything you think about or hold value too these days can be insured. Auto or vehicle insurance is one of the most common types of insurance and is a basic policy to protect you against losses incurred from car accidents, theft, vandalism and various other mishaps. Auto insurance can be purchased for different vehicles like cars and trucks as well as recreational items like motorbikes, boats and motor homes. In recent years the internet has been instrumental in helping people to know the various policies available to meet their needs and compare prices.

What’s auto insurance for anyway?

Auto insurance is basically a contract between you the customer or car owner and an insurance company. According to this contract you the customer agree to pay a certain amount of money or premium to the insurance company and the company agrees to payout any losses as defined in the policy.

The main items covered in auto insurance policies are:

1. Property: in case of damage or theft of a car the reimbursement is paid under the property coverage.

2. Liability: covers expenses incurred for bodily injury or property damage to the other person and or yourself.

3. Medical expense: medical coverage helps pay for treating injuries, rehabilitation and funeral expenses.

Most insurance policies are valid for six months to one year and need to be renewed before the policy expires to avoid gaps of coverage where you would be liable if something were to happen. Insurance companies will usually notify you by mail when it is time to renew your policy. Insurance companies charge a flat rate premium regardless of how much the vehicle is used. Some insurance companies also offer various types of discounts.

The Benefits of Auto Insurance:

In order to protect your assets and financial situation it is very important to purchase auto insurance, this is the main purpose of auto insurance. Auto insurance is not only important for the protection of your vehicle but also in most countries it is required mandatory by law.

It is very important to conduct a detailed study when buying auto insurance coverage because there are different types of policies with different benefits. Consult an expert before investing in any insurance to ensure you get the right type and best rates possible.

From jewelry to cars, motorbikes to fur coats, rare books to personal documents, we all have possessions that we deem priceless. These items are important pieces of our lives that need to be protected. For this reason, we may choose to buy personal property insurance coverage.

Any item has the potential to be lost or stolen, but students are often most vulnerable to personal property loss. Every year, college students lose millions of dollars worth of personal property due to theft, or damage caused by fire or water. Students lose calculators, stereos, cameras, personal computers, books, furniture and clothes, both accidentally or due to criminal activity. Most students reside in dorms or share living accommodations, so the risk or loss or damage to personal property is even greater. Having personal property insurance can protect students from the cost of replacing lost or damaged items.

Many insurance companies provide personal property insurance policies to students. Here is a short list of companies with outlines of key features and policies:

National Student Services Incorporated (NSSI)

NSSI offers an affordable personal property insurance policy for college students, for as little as a few cents a day. The NSSI policy is recognized at over 1000 colleges and used in several universities in the United States. The NSSI personal property insurance plan protects the policyholder’s belongings, whether the student lives on campus or not. Also included in their policy is $1,000 automatic liability coverage. This added benefit pays for any loss or damages where the insured is responsible. For instance, if an accident occurs due to the policyholder’s negligence, the NSSI personal property insurance will cover up to $1,000 of the hospitalization costs.

Ancillary Campus Services

Offered by Auxiliary Services Corporation at SUNY Cortland, Ancillary Campus Services offers primary coverage to protect the personal property of college students. This student personal property insurance is administered by Haylor, Freyer, & Coon, Inc. and is designed to protect college students from loss or damage of personal property while residing in halls, fraternity or sorority houses or off-campus houses or apartments. This affordable personal property insurance policy has deductibles that start as low as $50. Ancillary Campus Services also offers policies for students going abroad.

Clements International

Clements International offers international personal property insurance to cover the cost of damaged items during the relocation process or while the student resides in residence in a foreign country. Clements International is one of the few insurance companies that offer personal property insurance policies for students living out of the country. The international personal property insurance of Clements International is separated into two plans. The first plan covers transit and destination costs, while the second plan is solely for destination coverage for professionals already living abroad.

Students need to know and understand the risks to their personal property, and take steps to protect it. Contact one of the companies listed above, or talk to your student services officer to find out where personal property insurance is available in your area.