Research has shown that theft of our golf equipment and clubs has increased over the years. With the cost of golf equipment it's no wonder that thieves have targeted our homes as well as clubhouses and golf shops alike.
With the big increase in popularity of golf this trend will continue as more of us are taking up the golf game and spending more on designer golf gear, latest clubs and other gadgets making them an ideal target for thieves.
So if you pay top prices for your golf gear is it worth spending some money on your equipment and clubs by getting adequate golf insurance. Golf equipment is being stolen from our homes, cars and even from our lockers at the clubhouse and is increasing yearly.
Golf has been become fashionable with celebrities and other stars playing who invest in high tech equipment which can set people back a lot of money. A complete set of equipment including clubs can set you back £2000 and more. So after playing this money we are scared to spend less than £30 pounds on golf insurance which means we not covered when our clubs are stolen from our locker or our car.
With Golf Insurance costing as little as £30 a year which in turn covers not only your golf clubs against theft but covers you too. With your golf insurance you will have added protection and peace at mind when teeing off.
Most golf insurance companies will offer a range of policies to suit all budgets of golfers and generally provide coverage against loss, damage to clubs, theft, golf equipment hire, personal liability, personal accident, accidental damage to property, golf equipment hire, club subscription reimbursement and some even have a hole-in-one golf insurance too.
Saturday, January 3, 2009
What is Insurance and Can I Do Without It?
Insurance is an arrangement when an insurer and the insured party sign a contract where the risk of the party is transferred to the insurer, which means the risk of crashing your car and the corresponding cost of repairing it is transferred to the insurance company to which a periodical payment called a premium is paid. The premium is determined by the company and is affected by factors such as age and general health of person in the case of health insurance, or the condition of your car in case of auto insurance.
The game of insurance is played where the company tries to pay the least for accepting the risk while the insured party wants to give a lesser premium. In a way, getting a policy is a form of investment.
Such investments even existed in ancient times when ship owners would insure their cargo while going into risky waters. However, as sophisticated as economies have become, so has the extent and scope of insurance. In the United States alone, 175 million cars were insured in 2004. In 2006, the global total of premiums was $3.7 trillion! By far, United States, Europe and South East Asia including Japan share the largest chunk.
From the amounts above it is not difficult to realize that almost every aspect of our economic lives that entail risk can be insured. One's car, house, health, pet, business etc can be safeguarded through paying a fixed amount. The amount is usually small enough for us to consider a reasonable investment and large enough for the company to think insuring is worthwhile. The finer aspects are however more complicated as there can be exceptions and conditions that bewilder the inexperienced. For example, a company would want to have your complete health profile before proposing a premium, therefore a smoker or a diabetes patient would have to pay more than a normal healthy person. Similarly, a wooden house would have a higher premium than a concrete one and so on. Fortunately, access to information has become easier due to the internet and we can research things like car insurance online of different car insurance companies.
Insurance has become not only desirable but a necessity due to the changing circumstances of our social and economic lives. Nevertheless, it varies from one place to another. For example, where a state health system exists health insurance is comparatively less important compared to a place like the United States where the state does not take responsibility to give free health to all. Varied as it may be the larger the pool of insured people for a particular type of insurance usually means lower premiums like in auto insurance. However, it's sometimes not a choice like when a house is mortgaged or a car is bought on lease.
By and large, if thought out carefully and without ignoring the fine print, insurance is a worthwhile investment and can provide protection from the undesirable but possible events in our lives.
The game of insurance is played where the company tries to pay the least for accepting the risk while the insured party wants to give a lesser premium. In a way, getting a policy is a form of investment.
Such investments even existed in ancient times when ship owners would insure their cargo while going into risky waters. However, as sophisticated as economies have become, so has the extent and scope of insurance. In the United States alone, 175 million cars were insured in 2004. In 2006, the global total of premiums was $3.7 trillion! By far, United States, Europe and South East Asia including Japan share the largest chunk.
From the amounts above it is not difficult to realize that almost every aspect of our economic lives that entail risk can be insured. One's car, house, health, pet, business etc can be safeguarded through paying a fixed amount. The amount is usually small enough for us to consider a reasonable investment and large enough for the company to think insuring is worthwhile. The finer aspects are however more complicated as there can be exceptions and conditions that bewilder the inexperienced. For example, a company would want to have your complete health profile before proposing a premium, therefore a smoker or a diabetes patient would have to pay more than a normal healthy person. Similarly, a wooden house would have a higher premium than a concrete one and so on. Fortunately, access to information has become easier due to the internet and we can research things like car insurance online of different car insurance companies.
Insurance has become not only desirable but a necessity due to the changing circumstances of our social and economic lives. Nevertheless, it varies from one place to another. For example, where a state health system exists health insurance is comparatively less important compared to a place like the United States where the state does not take responsibility to give free health to all. Varied as it may be the larger the pool of insured people for a particular type of insurance usually means lower premiums like in auto insurance. However, it's sometimes not a choice like when a house is mortgaged or a car is bought on lease.
By and large, if thought out carefully and without ignoring the fine print, insurance is a worthwhile investment and can provide protection from the undesirable but possible events in our lives.
Why Take Risks When You Can Be Insured?
It's better to be safe than uninsured. Modern life is fraught with risks and dangers due to the interdependence of every aspect of our social and economic lives. When value and money exchange hands we often put our hard work, savings and future comfort at risk. Getting insurance is a way of avoiding the avoidable.
Human societies have always had mechanisms of keeping a back-up plan. In previous times, if a calamity struck the house of one person, the community would pitch in an help him build another. In this display of good neighborliness was an implicit understanding: I'll help you now so you have to help me when I get into trouble. However, as societies progressed so have the means to lessen risk, so much so that the insurance industry is a global trillion dollar business.
Although the forms may change from time to time, the basics remain the same. An individual or group wants to be repaid an amount in cash or kind if the improbable happens. The improbable event can be having an accident, crashing a car and sustaining injuries. In this single event, three risks and therefore three types of insurance are involved: for the car, health of the passengers and their lives as well. The insurance company, on the other hand, will offer you 'coverage' for the improbably if you pay them a suitable amount called a 'premium'. This premium is assessed by factoring things such as the condition of your car and the average rate of accidents of where you live. Hence, you sign for a policy covering certain aspects in return for giving periodical payments of premium.
Naturally, insurance can take on any form in almost any instance where any loss of value is possible to take place. The most common are life, health, car, house and travel insurance though this is only a sampling and it can take many minor and subtle forms, for example 'Young Driver Car Insurance' offered by a car insurance agency. However, the game has lots of pitfalls and nasty corners that can be avoided.
Firstly, it's the fine print that's important. While getting a insurance policy, companies use vague language and 'subject to condition' clauses to level best avoid their obligations in the event of a claim. That's why it must be made sure that clauses are carefully read and understood before proceeding further.
Despite the benefits of all types policies to choose from, the type and extent is dependent on the particular situation an individual, business or family is in. Studying various options, assessing needs, present and future, have to be done carefully so as not to succumb to hype or often well intentioned advice, and choose what's best. One of the first steps to take is to research the internet extensively before seeking professional help if desired. The benefit would be to understand the terminologies and options beforehand before committing your money anywhere.
Human societies have always had mechanisms of keeping a back-up plan. In previous times, if a calamity struck the house of one person, the community would pitch in an help him build another. In this display of good neighborliness was an implicit understanding: I'll help you now so you have to help me when I get into trouble. However, as societies progressed so have the means to lessen risk, so much so that the insurance industry is a global trillion dollar business.
Although the forms may change from time to time, the basics remain the same. An individual or group wants to be repaid an amount in cash or kind if the improbable happens. The improbable event can be having an accident, crashing a car and sustaining injuries. In this single event, three risks and therefore three types of insurance are involved: for the car, health of the passengers and their lives as well. The insurance company, on the other hand, will offer you 'coverage' for the improbably if you pay them a suitable amount called a 'premium'. This premium is assessed by factoring things such as the condition of your car and the average rate of accidents of where you live. Hence, you sign for a policy covering certain aspects in return for giving periodical payments of premium.
Naturally, insurance can take on any form in almost any instance where any loss of value is possible to take place. The most common are life, health, car, house and travel insurance though this is only a sampling and it can take many minor and subtle forms, for example 'Young Driver Car Insurance' offered by a car insurance agency. However, the game has lots of pitfalls and nasty corners that can be avoided.
Firstly, it's the fine print that's important. While getting a insurance policy, companies use vague language and 'subject to condition' clauses to level best avoid their obligations in the event of a claim. That's why it must be made sure that clauses are carefully read and understood before proceeding further.
Despite the benefits of all types policies to choose from, the type and extent is dependent on the particular situation an individual, business or family is in. Studying various options, assessing needs, present and future, have to be done carefully so as not to succumb to hype or often well intentioned advice, and choose what's best. One of the first steps to take is to research the internet extensively before seeking professional help if desired. The benefit would be to understand the terminologies and options beforehand before committing your money anywhere.
How the Insurance Business Works
In some lines of insurance, one additional type of service is important: engineering and loss prevention. The quality of engineering service varies from company to company.
A well qualified corps of inspectors may weigh the balance in favor of a given company for a boiler and machinery line. And an imaginative engineering department may be the deciding factor which swings a workman's compensation line from one company to another.
Wherever insurance is concerned, there is no one best life insurance policy. Many arguments have been and will continue to be advanced by the proponents of each of the several types of companies. Each group rightfully can claim some advantages; each has some disadvantages.
Variations are present among carriers of the same type. These are more important than variations among types of companies. Factors that should be considered in selecting a carrier are its financial condition, its services, and its rates. Competition tends to reduce the points of distinction among carriers.
Here are some questions that outline life insurance basics and may help you to better understand how insurance companies work:
• Many people who accuse the mutual insurance companies of doing business contrary to the traditional American way often exclude mutual life insurance companies from their attack. How do you account for this lack of consistency?
• Mutual companies are not automatically stronger than stock companies, nor are stock companies automatically stronger than mutuals. By making use of financial data reported in either the Spectator Insurance Year Book or Best's Insurance Reports, demonstrate the authenticity of this conclusion.
• It is generally said about any product that you get just about what you pay for. It would not be too difficult to disprove this comfortable axiom in so far as the insurance business is concerned. How would you go about it?
• Since mutual insurance companies generally write insurance at lower net rates, how do you account for the fact that they have not driven the stock companies out of business?
• Why have the mutual carriers been so much more successful in the medical insurance business than in the life insurance business?
• If participating life insurance policies are held long enough, the dividends paid on it may more than offset its higher initial cost. How long will a participating policy have to be held before it becomes cheaper than a nonparticipating policy? Under what circumstances may it never become cheaper?
• By far the larger percentage of new life insurance is written by mutual companies, whereas the overwhelming majority of fire insurance is written by capital stock companies. Does this prove the superiority of either type of company in its field?
• If Best's Insurance Reports rate a company as "good" or even "very good," does this mean that an insurance buyer can purchase low cost life insurance from this company with complete confidence as to its financial stability?
• What are the factors that should be considered in appraising the financial standing of an insurance carrier? Select your favorite carrier and appraise its financial condition in so far as you can ascertain it from published reports.
• You are the general manager of the Big Value Corporation and have asked your insurance manager to write a report justifying his selection of insurance carriers for presentation to the board of directors. What type of information would you expect to find in this report?
• A large university has established an insurance buying policy which prohibits the purchase of more than 25 % of its insurance in mutual companies. Is this a sound policy?
• A university calls for bids on its insurance and generally divides its purchases among a number of different agents. Are there any disadvantages to this type of buying policy?
• Is it possible for a city or county to do business entirely with one agency without antagonizing the rest of the agencies in the community?
• You are a member of your state legislature and a bill is before you to establish a state fund for life insurance without medical. How would you vote? How would you explain your position to your constituents if called upon to do so in your campaign for re-election?
A well qualified corps of inspectors may weigh the balance in favor of a given company for a boiler and machinery line. And an imaginative engineering department may be the deciding factor which swings a workman's compensation line from one company to another.
Wherever insurance is concerned, there is no one best life insurance policy. Many arguments have been and will continue to be advanced by the proponents of each of the several types of companies. Each group rightfully can claim some advantages; each has some disadvantages.
Variations are present among carriers of the same type. These are more important than variations among types of companies. Factors that should be considered in selecting a carrier are its financial condition, its services, and its rates. Competition tends to reduce the points of distinction among carriers.
Here are some questions that outline life insurance basics and may help you to better understand how insurance companies work:
• Many people who accuse the mutual insurance companies of doing business contrary to the traditional American way often exclude mutual life insurance companies from their attack. How do you account for this lack of consistency?
• Mutual companies are not automatically stronger than stock companies, nor are stock companies automatically stronger than mutuals. By making use of financial data reported in either the Spectator Insurance Year Book or Best's Insurance Reports, demonstrate the authenticity of this conclusion.
• It is generally said about any product that you get just about what you pay for. It would not be too difficult to disprove this comfortable axiom in so far as the insurance business is concerned. How would you go about it?
• Since mutual insurance companies generally write insurance at lower net rates, how do you account for the fact that they have not driven the stock companies out of business?
• Why have the mutual carriers been so much more successful in the medical insurance business than in the life insurance business?
• If participating life insurance policies are held long enough, the dividends paid on it may more than offset its higher initial cost. How long will a participating policy have to be held before it becomes cheaper than a nonparticipating policy? Under what circumstances may it never become cheaper?
• By far the larger percentage of new life insurance is written by mutual companies, whereas the overwhelming majority of fire insurance is written by capital stock companies. Does this prove the superiority of either type of company in its field?
• If Best's Insurance Reports rate a company as "good" or even "very good," does this mean that an insurance buyer can purchase low cost life insurance from this company with complete confidence as to its financial stability?
• What are the factors that should be considered in appraising the financial standing of an insurance carrier? Select your favorite carrier and appraise its financial condition in so far as you can ascertain it from published reports.
• You are the general manager of the Big Value Corporation and have asked your insurance manager to write a report justifying his selection of insurance carriers for presentation to the board of directors. What type of information would you expect to find in this report?
• A large university has established an insurance buying policy which prohibits the purchase of more than 25 % of its insurance in mutual companies. Is this a sound policy?
• A university calls for bids on its insurance and generally divides its purchases among a number of different agents. Are there any disadvantages to this type of buying policy?
• Is it possible for a city or county to do business entirely with one agency without antagonizing the rest of the agencies in the community?
• You are a member of your state legislature and a bill is before you to establish a state fund for life insurance without medical. How would you vote? How would you explain your position to your constituents if called upon to do so in your campaign for re-election?
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