Archive for the ‘Finance’ Category
Tuesday, March 2nd, 2010
Getting proper auto insurance for a rental car is a process full of uncertainty and more than a little confusion. Should I get insurance from the rental company? Am I covered if I use my credit card to rent the car? Does my auto insurance policy cover rented vehicles? All of these are questions that come to mind when thinking about obtaining auto insurance for a rental car.
The first step you should take before renting a car is to check on your existing auto insurance coverage and with your credit card companies to find out what type of rental auto insurance you already have in place. This can be done before you ever rent a car so you enter the process with some background knowledge.
If you are renting a car for pleasure and not business, most likely the coverage and deductibles you have with auto insurance on your car will apply to the rental. If you have comprehensive auto insurance your rental car will have the highest level of coverage, but if you have dropped comprehensive or collision auto insurance on your car remember the rental won’t be covered in case of theft or an accident. Also check with your auto insurance provider for any riders it might offer that might be less expensive than buying auto insurance through the rental company.
Rental car insurance offered by your credit card is going to vary widely depending on the type of card, the issuer and even the bank that provides your credit card. Typically any coverage provided by your credit card will involve damage or loss to the rental, but will exclude your personal belongings, personal liability, other cars and other’s property. You should check with each credit card you carry to find out which one offers the most secondary coverage for rental car insurance.
Once you rent a car and you know where you are covered through your personal auto insurance and credit cards, you will have the option to add coverage through the car rental service. These options include: loss damage waiver, liability insurance, personal accident insurance, and personal effects insurance.
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Friday, February 26th, 2010
Here you get information about the different types of mortgage plans, some crucial points that you must know before you sign a mortgage agreement with the lender, all other important information about loans and latest Dutch news regarding mortgage and loans. Read on.
Placing a mortgage as a security against debt is transferring certain rights on a property to a lender; to be executed in case of violation of mutual debt agreement between the two, or to be returned intact in case of fulfillment of the agreement without a breach.
The mortgage agreements need to be based on legal mortgage terms and conditions prevailing in the state and must safeguard rights of both the parties in all possible circumstances.
If you are planning to buy a house by borrowing money from a financial institution, banks or an individual, you will have to sign a mortgage agreement with the lender. There is a limit on how much you can borrow; the basic rule is that your annual repayment should not exceed 30% of your gross annual income.
Depending upon the nature of your deal, your social status, your financial status viz. earning potential, loan tenure, interest rates etc., there are few different types of mortgage plans that you can choose from:
Types of Mortgages:
1) Fixed Rate Mortgage: A fix payments of principal and interest is repaid on monthly basis unto a fixed length of tenure. The repayment tenure can be anything like 10, 15, 20 or even 30 years. In fix rate mortgage plans interest is front loaded and a big part of your monthly payment goes into paying interest only. Fix rate mortgage plan is ideal for people with limited or fix monthly income or salaried persons who intend to use the property on long term basis.
2) The Adjustable Rate Mortgage (ARM)
It is a combination of fixed rate mortgage and a floating rate mortgage. The mortgage interest rate is fixed for certain periods than it becomes adjustable. People choose the adjustable rate mortgage plan when current mortgage interest rates are high.
3) Interest Only Mortgage: Under this mortgage you opt to pay only interest amount at the beginning of the loan. Interest only loan mortgage periods might range from 1 year to anything upto half the term of the mortgage loan. After the interest only payment is over, you will begin making payments on your mortgage principal.
4) Biweekly Mortgage: Under this type of mortgage plan you pay half of what your monthly mortgage payment would be. You will be required to pay 26 (not 24) biweekly mortgage installments.
5) Two Step Mortgage: This can be a long term, say up to 30 years, mortgage with special features: convertible or non-convertible. These mortgage loans have a fixed interest rate for the first five years and then switches to either a 25 year fixed mortgage rate or adjustable mortgage rate.
6) Federal Housing Authority (FHA) Mortgage: This is a loan insured by FHA that is part of the U. S. Department of Housing and Urban Development (HUD). FHA loans require lower mortgage down payments and are easier to qualify than conventional loans.
7) Veterans Affairs Loan: This is a mortgage loan for veterans and service persons, supported by guarantee of U. S. Department of Veterans Affairs. This guarantee allows veterans to avail loans with good borrowing terms, usually with little or no down payment.
Whatever mortgage plan you may qualify and opt for, your loan documents contain the terms of your loan. You should review them carefully before closing on your loan. Your loan and mortgage documents should accurately reflect the terms promised by your lender. Besides, there are certain things that you should ask to your lender before signing an agreement:
1. Which is the lowest interest plan for me?
2. Will my interest rate be fixed or variable?
3. If changeable, when and what?
4. In case of an introductory or “teaser” rate, when will it change and how?
5. What is the best offer I can get if I go for a standard full-documentation loan rather than a low-doc or no-doc loan?
You should also know about the following things about your mortgage plan:
1. What is Annual Percentage Rate (APR)?
2. What is Adjustable Rate Mortgage (ARM) Disclosure?
3. What is Good Faith Estimate (GFE)?
4. What is Initial Truth in Lending (TIL) Disclosure?
5. What is Reduced Documentation Loan?
6. What is Teaser Rate?
To avoid any misconception at a later stage, it is important that you understand all the involved terms, associated benefits and risks factors prior to choosing any mortgage plan. In any case, make sure that the repayment terms suite your ability to repay the debt.
www.hypotheek-lening-rente.nl provides you detailed information about Hypotheekaanbieders and prevailing Hypotheke (mortgage) plans in Netherlands. We can help you choose a right mortgage plan for you and get the best possible deal on your loan. We keep you updated of the latest Dutch news regarding mortgage and loans.
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Monday, February 22nd, 2010
The move comes a few weeks after the firm recruited Chris Goekjian, the head of fund of funds group AltEdge and the former CEO of Credit Suisse Financial Products, as its new chief investment officer in a move that signalled the firm’s desire to expand its range of investment products.
Jorge Giampaoli is joining the firm as partner and portfolio manager of the new Cheyne Equity Macro Fund – a new launch for Cheyne that will follow a short-term, liquid, macro-based equity trading strategy.
Giampaoli, a 39-year-old Argentinian, joins from Morgan Stanley where he worked for the past eight years – most recently in charge of propriety trading for European equities.
Said Goekjian: “This is an exciting step for Cheyne to be taking – broadening its equities offerings as well as providing extremely liquid strategies to fit with current investor demand.”
Co-founder and chief executive Lourie added: “We are very happy to have attracted such a high-quality and successful trader to Cheyne. This is an important strategic addition to our diversified investment proposition at this time of change in the industry.”
Since its launch by Lourie and Fiertz – both of whom also formerly worked at Morgan Stanley – back in 2000, originally as a convertible bond specialist, Cheyne has developed into one of the most innovative and diversified alternative asset managers in Europe.
Much of its focus in recent years has been on corporate credit and derivative-related strategies, although the firm also runs a number of equity-focused and special situation strategies.
Cheyne launched its first fund in 2000 and now manages net assets of more than $6 billion across a diversified range of products. The group currently employs approximately 170 people with its primary offices being located in London, New York, and Bermuda
Cheyne Capital is one of Europe’s leading alternative asset managers. Cheyne Capital Management (UK) LLP is authorised and regulated by the UK FSA and, along with other parts of the group, is a registered investment adviser with the US SEC.
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Friday, February 12th, 2010
There are many home insurance products on the market, and it is important to think about your needs rather than just going for the cheapest possible deal.
Many mortgage providers will insist on buildings insurance, which covers the cost of rebuilding your home in case of disaster. This is to ensure that they are able to recover the asset that is your home if you are unable to pay the mortgage.
You should make sure that your buildings cover includes the cost of alternative accommodation in the event that your home is uninhabitable. It is also worth checking whether the policy covers the cost of rebuilding or if it gives the market value of your property.
As well as the actual structure, buildings insurance covers the permanent fixtures of your home, such as your bathroom suite, fitted kitchen and decorations. Essentially, anything that you could not take with you if you moved home will typically be covered by your buildings insurance.
The things in your house that you would typically take with you if you moved, such as furniture, electrical equipment and clothing, need to be covered by separate contents insurance. Your mortgage company will not require you to have contents insurance, but a basic policy will be inexpensive and could be the difference between a minor inconvenience and a major financial problem.
If there are any very expensive items in your home then some standard contents insurance policy will exclude them. On the other hand, some policies will even cover you against being sued if some failure on your part to maintain your home leads to a visitor being injured.
As with buildings insurance, the cheaper contents insurance policies do not always give the best value. For example, cheaper policies will give you indemnity insurance, meaning they will give you the market value of the goods that you are claiming for, but that might be a lot less than what you will have to pay to get new replacements. Unless you would be content to replace a damaged rug with a second hand one for example, it may be worth paying a little extra for your contents insurance to get a new for old policy.
Both buildings and contents insurance will generally cover you for damage caused by fire, storms, flood, theft and vandalism, but higher levels of cover are available if you feel that it is necessary, for example accidental damage.
There are a lot of price comparison websites that will help you to find the best deal, so you are sure to find a policy with the appropriate level of cover to meet your needs.
It only takes a few moments to get our home insurance quotes online with Kwik Fit Home Insurance.
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Friday, February 12th, 2010
We are all aware that house fires can be not only extremely dangerous but can also cause a lot of damage to our property and possessions. You need home insurance to cover the cost of repairing or reconstructing your house if it is destroyed or damaged by a fire, but of course the worst effects of fire could be injuries or even deaths. Even if nobody is hurt, house fires can cause a lot of damage very quickly, and losing irreplaceable items like family photographs can be very upsetting.
Insurers are naturally keen to help customers to reduce the risk of house fires, not only because of the high costs to them if a customer needs to claim, but also because of the high risks of death or serious injury from even fairly small house fires.
To make sure you are aware of a fire before it is too late, install smoke alarms and make sure they are regularly checked. Fire alarms ought to be replaced at least every ten years. Make sure that any windows with bars over them can still be opened from the inside in case a family member needs to escape in an emergency. Agree escape plans with everyone in the household so that if a fire should break out, everyone knows what to do even if they are on their own.
Make sure that furnishings and fabrics are fire retardant. One of the most common causes of house fires in the UK is candles, so be very careful of where they are positioned and do not leave a candle burning unattended.
Make sure that there is no furniture or fabric within three feet of a heater, and be careful to ensure that all heaters and open fires are inaccessible to children and pets. Dont leave appliances on standby, and never overload plugs and sockets. Regularly check cables and repair any faults, and get rid of appliances if the cable is worn or the wires exposed.
In the kitchen, prevent fat from building up in grill pans and in the oven by keeping them clean, and never throw water over a chip pan fire as this will cause the fire to spread. You can tackle small kitchen fires with a fire blanket or wet tea towel, but for a fire any larger than a wastepaper basket or if there is any risk of it spreading, evacuate the building and call the fire brigade immediately.
If you follow these simple steps then the likelihood that you will need to call your insurer to claim for fire damage will be greatly reduced. However, do not be tempted to skimp on home insurance, because the difference in cover can be great for even a small increase in premium. Weigh up the likelihood of a fire against the impact it would have on you and your family before you choose the right level of cover for you.
Find out how you could save on your household, building and contents insurance cover with Kwik Fit’s home insurance.
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Friday, February 12th, 2010
If you want to reduce the cost of your home insurance, you will as a minimum still need buildings insurance to cover the cost of repairing or rebuilding your home. It is up to you whether you want to also insure the things inside your home, although it could be an expensive gamble if something did go wrong and you were uninsured.
To reduce your premium, there are some things you can do that will not leave you unprotected and that cost little or are free. Firstly, do shop around for your home insurance. Different companies offer different deals, so you may find big savings.
Price comparison websites can be a fast and straightforward way to look at lots of providers, and most have simple guidance to help you understand the different levels of cover as well as giving prices for many different companies. It is important that the policy you have meets your needs so do look at the small print before making your decision.
Buying your buildings and contents insurance from the same company can help reduce the price. Some also offer cheaper deals for travel and car insurance if you use the same provider.
You can increase the voluntary excess on your policy to reduce the premium, but be realistic about what you would be able to pay. Remember the whole reason for having home insurance is to protect you financially if your house or belongings are damaged, so there is no point in getting a really cheap policy that would still leave you financially crippled if there was a house fire for example.
Get an approved burglar alarm installed and fit proper door and window locks. This will help you to avoid the trauma and inconvenience of a burglary and will also make your home insurance cheaper.
If you can afford to pay a one off sum annually rather than in monthly instalments, most insurers will give you a discount. Lastly, if there is one then make sure you join the local Neighbourhood Watch scheme, this is free and can reduce your home insurance premium.
When attempting to get a cheaper home insurance premium, dont ever lie your insurer about your belongings or the condition your home is in. If you are caught out the insurer may refuse to pay out and you may find yourself badly out of pocket.
Whatever you call home, whether it’s a three-bedroom semi, a country cottage, or a penthouse apartment, Kwik Fit Insurance’s panel of leading insurers find you the best price for home insurance.
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Friday, February 12th, 2010
Buildings insurance is a type of home insurance. If your home is destroyed or made uninhabitable by fire, storm, flood or vandalism then buildings insurance will cover your financial losses.
Most mortgage companies will require you to have buildings insurance because the money they lend you is safe so long as they can repossess your house if you are default on your payments. Different policies offer many different levels of cover, but as a general rule the cheaper policies tend to offer less financial protection by covering fewer expenses and offering lower maximum payments.
All buildings insurance policies ought to cover the actual structure of your house and should include all the things that would not come with you when you move house, such as your bathroom fixtures and fitted kitchen cabinets. Garages, greenhouses and sheds are included in most buildings insurance policies, but plants, fences and boundary walls may not be.
Do be sure that your policy covers the cost of completely rebuilding your house, including any amendments you have made. Make sure that you tell your insurer if you make any significant improvements to your home, for example the building of an extension. Your buildings insurance premium will be calculated based on the condition the insurer knew your home to be in, and any claims you are awarded will be based on this.
If the amount you receive does not cover your financial losses because you have under insured your home, can be an awful financial problem, so carefully consider the level of cover you need and be realistic about any excesses you are prepared to pay. Home insurance prices can vary significantly so do shop around.
Most home insurance providers offer combined buildings and contents insurance which is good value. Contents insurance is for all the items that are not permanent fixtures in your home, such as white goods and furniture.
If you are renting, your landlord is responsible for obtaining buildings insurance, but your own possessions will not be covered. To insure your own things, you should take out a separate contents insurance policy.
If your house is thought to be at particular risk, perhaps due to previous incidents of flooding, then your buildings insurance premium will probably be higher. Some companies may actually refuse to insure you. If you fall into this category you may need to approach a specialist buildings insurance company that deals with high risk properties. Be prepared for a higher premium, and do seek advice about steps that could be taken to prevent future flooding and to reduce your insurance costs. Buildings insurance is a type of home insurance. If your home is destroyed or made uninhabitable by fire, storm, flood or vandalism then buildings insurance will cover your financial losses.
Most mortgage companies will require you to have buildings insurance because the money they lend you is safe so long as they can repossess your house if you are default on your payments. Different policies offer many different levels of cover, but as a general rule the cheaper policies tend to offer less financial protection by covering fewer expenses and offering lower maximum payments.
All buildings insurance policies ought to cover the actual structure of your house and should include all the things that would not come with you when you move house, such as your bathroom fixtures and fitted kitchen cabinets. Garages, greenhouses and sheds are included in most buildings insurance policies, but plants, fences and boundary walls may not be.
Do be sure that your policy covers the cost of completely rebuilding your house, including any amendments you have made. Make sure that you tell your insurer if you make any significant improvements to your home, for example the building of an extension. Your buildings insurance premium will be calculated based on the condition the insurer knew your home to be in, and any claims you are awarded will be based on this.
If the amount you receive does not cover your financial losses because you have under insured your home, can be an awful financial problem, so carefully consider the level of cover you need and be realistic about any excesses you are prepared to pay. Home insurance prices can vary significantly so do shop around.
Most home insurance providers offer combined buildings and contents insurance which is good value. Contents insurance is for all the items that are not permanent fixtures in your home, such as white goods and furniture.
If you are renting, your landlord is responsible for obtaining buildings insurance, but your own possessions will not be covered. To insure your own things, you should take out a separate contents insurance policy.
If your house is thought to be at particular risk, perhaps due to previous incidents of flooding, then your buildings insurance premium will probably be higher. Some companies may actually refuse to insure you. If you fall into this category you may need to approach a specialist buildings insurance company that deals with high risk properties. Be prepared for a higher premium, and do seek advice about steps that could be taken to prevent future flooding and to reduce your insurance costs.
With Kwik Fit Insurance house insurance, your home and your treasured possessions will be well-protected from the unexpected.
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Friday, February 12th, 2010
Contents insurance is a type of home insurance. Your belongings that are not actually a part of the physical structure of your house are not protected by buildings insurance, which is usually compulsory if you need to take out a mortgage. Contents insurance is there so you do not have to pay all the costs of repairing or replacing your things if they are stolen, destroyed or damaged by flood or fire.
There is a wide variety of home insurance policies available. For a slightly higher premium, some will cover items like your laptop or handbag even when you are away from home. At the cheaper end of the scale, if you want a low premium you can find really competitive deals but the price of the home insurance policy you buy will certainly affect the level of cover you get.
The cheapest type of cover is known as indemnity insurance, and will replace like for like, meaning that if your two year old sofa is damaged, you will only be given the value of a two year old second hand sofa. More expensive, but possibly worth the cost, are policies that give you the money to replace your old damaged or stolen goods with new ones.
Make sure that your expensive belongings are covered. Your contents insurance will have a maximum value, so if you own anything that is particularly valuable or that exceeds the maximum value, you may need to insure it separately. Laptops for example are often stolen because they are portable and easy to sell on, so some policies exclude them or require that you pay a supplement.
If you do need to make a claim, you may have to prove the value of the goods you wish to replace, so keep receipts and valuation certificates. Some advise that you even take photos of your belongings as an easy way to record what you own and what condition your things are in.
Dont forget to consider your garden when purchasing contents insurance. Think of your garden as a room in your house. Some of the items in your garden, like your greenhouse, are likely to be covered by your buildings insurance, but garden furniture and even plants may be covered by contents insurance.
Finally, you may wish to consider insurance against injury to visitors to your home which may result from any failure on your part to maintain your property. Sadly there have been instances of friends suing friends following accidents in their homes, and without cover, these unfortunate hosts have in some cases been left with hefty bills.
Find out how you could save on your household, building and contents insurance cover with Kwik Fit’s Home Insurance.
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Friday, February 12th, 2010
There are many different approaches to buying a second hand car, such as buying from an independent dealership or attending an auction.
Although there are pros and cons to each option, you can end up getting a great deal out of any of them if you play your cards right. Here, we shall discuss most of the common methods of buying a used car, and the things to look out for with each one.
Franchise dealerships can usually be counted on to have high quality, fully serviced cars in their lot. Normally, they will offer a healthy part exchange deal on your old car, and a solid warranty on your new one. However, their cars do tend to be rather on the pricey side, as does their service facility, which they may insist that you use, and there is normally only a few makes of car that they will deal with.
Independent dealers tend to offer better prices and more flexibility than franchises, will tend to take a part exchange deal, and their garage facilities are often both highly competent and reasonably priced. However, some independent garages have a better reputation than others, and their warranties tend to be more expensive than privately arranged ones.
Car Supermarkets can be great places to pick up nearly new cars at low prices, and usually give you more of a choice than other types of dealership. However, they tend to be quite inflexible about prices, and they seldom offer part exchange deals. Buying a car from a car supermarket can also entail a number of hidden costs, and many of their better publicised offers are not available for every vehicle. Furthermore, the cars themselves often tend to be imports, and they do not enjoy the same reputation for great customer care as independent or franchise dealerships.
Classified ads can be a great place to look for cheap second hand cars from private sellers, but this is also one of the most time consuming ways to buy a second hand car. You have virtually no legal comeback when buying from a private seller, so it is important to arrange a vehicle inspection before you commit to buy.
Auctions are probably the most exciting places to buy used cars, and sometimes you can end up with a real bargain. Make sure and get along early so you can give the cars a good looking over in broad daylight, and avoid getting carried away by the excitement of the auction, which can sometimes lead to some ill advised purchases.
You can now buy cars directly over the internet, which is one of the cheapest and most convenient ways to do it. However, you are often buying sight unseen, so if you are not prepared to take the risk, make sure that you at least get some sort of warranty with the car. Arranging payment and collection can be tricky, but if the car in question is relatively nearby, this need not be an issue.
Let Kwik Fit Insurance get you a cheap car insurance quote, using our simple and fast quote process.
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Friday, February 12th, 2010
The type of vehicle that you should buy is largely dependent on what you will be using it for. If you are going to be doing mainly city driving, then you might want to go for a small hatchback with power steering and either a light clutch or automatic transmission. If you do a lot of outdoor activities on weekends that require bulky equipment like bicycles, surfboards, or kayaks, then you might want to consider an SUV or an estate car. Here is a handy list of all the car types, and the advantages and disadvantages of each one.
If parking and fuel economy are your highest priority, then you may want to look into getting a city car. It is, however, rare to find vehicles of this type in good condition, and the ones that are tend to be expensive.
Small hatchbacks are cheap to run and insure, and if you can find one in good condition, they can represent excellent value on the second hand market. Avoid the more powerful, fuel injected hot hatch types, however, as these have often seen some rough treatment at the hands of boy racers.
Due to the fact that companies often buy large amounts of family cars in bulk for use as company cars, they can often be picked up quite cheaply on the second hand market. Bear in mind however, that people tend to show more respect to their personal cars than they do to their company cars, so you should give these an extra thorough going over before you buy.
Compact MPVs can be cheaper than traditional hatchbacks, and can be a good solution for larger families. Their bigger equivalents are more roomy inside, but are more expensive to run and difficult to park.
Mainstream family car manufacturers often make very good sports cars and coupes in order to spruce up their brand image. These can lose their value very quickly, which means that some real bargains can be had, although be aware that these cars tend to be a lot less fuel efficient than their more prosaic counterparts.
Executive and luxury cars tend to have lots of electronic equipment on board, and are generally of a higher than average build quality. Some of the less desirable brands of executive car, such as those made by manufacturers more commonly associated with family cars and hatchbacks, depreciate quickly and can be picked up for a song on the used market. However, they also tend to be quite fuel hungry, so bear this in mind before you buy.
If you do a lot of outdoor activities, larger 4×4s can represent a great bargain, as they tend to be very rugged and depreciate quickly, but be aware that four wheel drive vehicles consume around twice the amount of fuel as their two wheel drive counterparts, and rely on expensive proprietary parts that can be expensive to get hold of should you need to repair your vehicle.
Let Kwik Fit Insurance get you car insurance quotes, using our simple and fast quote process.
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