Advice Depot

Car Insurance Savings - The Feminine Advantage And How To Save Even If You’re A Man

Women often get poorer deals in many things. Car insurance is an exception. It certainly pays to be a woman as far as getting lower rates is concerned. And, insurers have good reasons for this position.

The roughest drivers are usually male. If a driver is attempting risky maneuvers, it’s likely a male driver. Women, by their very nature, are not prone to being physically rough. Although some women may have such inclinations naturally, societal pressures reduce them. We, as a people don’t like our women rough.

Driving for very long hours isn’t something most women do. This makes their average mileage lower than that of their male folks. In a family, it’s often the male drivers who take over for long trips.

Women also drive smaller cars. These are less expensive to maintain. Furthermore, they’ll also go for cars that have better safety features.

These and other factors make insurers favor women given similar profiles.

That said, you’ll not get equal treatment from every insurer for your gender. Some go as far as to provide special products that will take care of you especially as a woman. What this means is that you’ll get better price/values from some insurers than others. If you want to get an understanding of how your insurance rates are calculated, check my other articles.

It makes sense that you understand what you’re paying for. Therefore, ask the agent assigned to you what is covered in your policy and what is not. Make sure you read through and understand the terms and scope of coverage before signing the contract.

Women should look for special products that give them coverage that protects them further. An example of such products or add-ons is a breakdown cover. This usually takes care of you if your car breaks down. How far each insurer would go in this cover differs.

You can save a lot in your car insurance despite your gender or circumstance. Obtain quotes from insurance quotes sites. Compare the quotes returned and pick the best offer. Visit at least three sites. Doing that will increase your chances of saving hundreds of dollars in your auto insurance.

Here are my favorite car insurance quotes sites…

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Chimezirim Odimba writes for Car Insurance.

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How Do I Lower My Auto Insurance Rates?

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The Inner Workings of Annuities

Annuities represent a conservative, but effective, way to provide steady income. So, just how does this process work?

The principle behind annuities is really the concept that it takes money to make money. When there is a large sum of capital available for investment, it is possible to make an even larger sum of money. An individual is faced with several problems, however, when it comes to investing large sums of available capital. The first problem is taxation. The risks involved in investing can be another problem. Most individuals do not have the knowledge necessary to reduce investment risk to a manageable level.

Insurance Companies have the expertise to wisely invest large amounts of capital and realize substantial returns. The idea behind an annuity is the transfer of the risks and responsibility of earning a return on investments from the individual to the Insurance Company. The individual, who is called the annuitant, purchases an annuity by paying a lump sum of cash to the Insurance Company. After a certain period of time, the Insurance Company begins to make regular and guaranteed payments to the annuitant. These payments can be made monthly or yearly and for various periods of time. The payments can continue for a lifetime and in some cases even beyond as the payments continue to a designated beneficiary.

An annuity is a win/win situation. The annuitant has transferred all the risk and is insured a steady and reliable income from his investment. He has also deferred his tax obligation until the time he actually receives the payments. The Insurance Company has assumed all of the risks, but has the potential to make a profit by skillfully investing the lump sum.

The amount and duration of the regular payments made by an annuity will vary according to the type of annuity. Some annuities tie the payout to a variable index such as a mutual fund. Under this very attractive annuity plan, the annuitant has the possibility of sharing in some of the investment earnings while deferring any tax liability until a later date. Some of the risk is assumed under this type of annuity, but that risk is minimized by being spread out over the term of the annuity.

One good example of the value of an annuity and how an annuity works is the large lottery winner. In most cases, a lottery winner is given a choice of taking his winnings in a single lump sum payment or as an annuity. The single lump sum payment is considerably less than the face value of the winning ticket. The total of the annuity payments, however, will equal the entire winning amount. The number of people who end up in financial difficulty shortly after receiving lump sum payments is one of the most compelling arguments for the value of annuities.

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