There are many aspects of insuring your car that may seem a bit strange and even unfair. The price formation of policies is usually conditioned by factors that an ordinary consumer may consider irrelevant yet the insurer will see a precise way to asses the risk of insuring a particular person. And of all the factors that will affect your insurance premium one of the most strange is the gender. Yes, that’s right the price of insurance will vary depending on whether you are a male or a female. Sure, it may sound sexist and discriminatory but there are real facts supporting such an approach. And if you think that male drivers are charged less because they are better while behind the wheel you’re in for a big surprise!

Yes, it’s a fact that you can get a different premium just because of your gender. But before you start calling in the court for a discrimination case take a look at the facts that drive the insurance companies to act so strange. First of all you have to understand that insurance companies are crazy about assessing the risk they take upon themselves when insuring someone. They will use any awkward factor that will allow them to predict how it is likely for a person to file an insurance claim. And while the place of residence, education and marital status may seem logic from that perspective the gender of the driver isn’t something rational from the customer’s point of view. Yet, the statistics state otherwise and insurance companies are happy to use them in order to support their approach.

According to statistics female drivers file less claims then male drivers. And not because there are more men on the road in general. In relative terms the percentage of women filing claims is less compared to men. Moreover, female drivers tend to end in far less serious accidents, causing less damage and implying less costs to cover. Because of that the insurance companies usually charge female drivers with lower auto insurance rates than men. Of course, this doesn’t mean that all female drivers are good on the road and don’t cause any trouble. There are always good and bad drivers no matter the gender, age, social status and place of residence. However, the general trend is as described above and insurance companies take in consideration every aspect of the statistics that allows them to handle their risks.

If you are a male driver and find yourself offended by such a trend in auto insurance price formation there’s only one solution available – shopping around. There are many companies out there with different statistics concerning their customers, so there is a chance to find a company that has as many accidents with female drivers involved as men. Still, the best thing to really set your mind to is having a good auto insurance policy. Does it really matter who is paying more or less? The really important thing is that your policy would be adequate to your personal needs and priced as competitively as possible.

Look out your car window and, sometimes, between the billboards, you can see a tree. In the good old days before we started covering the land with concrete, there used to be whole forests. Now the trees are gone and the ground is covered up, all we get are floods – the water can no longer soak into the ground and disappear. Of course, some of us keep trees as pets in our yards. We miss the old times and enjoy watching something big and green growing up into the sky. And yet. . . Have you ever wondered what holds the trees upright? Yes, these wonders of nature do grow up into the sky but, to ensure they don’t just fall over every time the wind blows, they develop big root systems. Many of these roots spread underneath our homes and can cause problems with the foundations. Some roots go the other way and produce that delightfully uneven sidewalk our old folk like to trip over when their eyesight’s not so good.

If the roots from one of your trees produces cracks in your neighbor’s home, or a stranger passing by falls over a cracked sidewalk, you can face a claim. This will usually be covered under the liability section of the policy. You can also face enforcement action from your local council. Local laws usually entitle the council to order you to remove “dangerous” trees and make good the sidewalk. If you refuse, the council can come on to your land, remove the tree and send you the bill. Whoever’s responsible for maintaining the road outside your home is likely to have similar powers. Completely removing a large tree can be an expensive business. Unfortunately, your insurance policy only covers you when your trees cause loss or damage to others. It does not pay out for preventive work to cut back the branches or roots. You get to pay the tree surgeon to do that out of your own savings.

When the snow and ice builds up on the branches, the additional weight can bring them down. This is where your study of the policy terms can pay off. Most policies pay for the repair of your own home or garage if a tree blows over or heavy branches fall through the roof. The unknown is whether the policy will also cover the cost of removing the tree or branch. Hiring men with chainsaws and a truck to remove the pieces does not come cheap. If the tree simply falls to the ground without damaging any structure, the chances of a successful claim for removal are small. Remember if your tree falls on your car, only comprehensive cover will get you back on the road. There are standard terms covering storm damage and, damage caused by falling branches or lumps of ice from trees is usually included.

The fact the northeast has just experienced record snow for October should convince you of the need to review your home insurance policy. In 2010, the Insurance Information Institute reports total claims of $2.6 billion for winter storm damage alone. The weather is causing an increasing amount of damage and, unless you have good cover from your home insurance policy, you might find it difficult to repair your home.

The problem with insurance is nothing in life is ever completely certain. One day the housing market can be rolling along, everyone certain prices can only ever go up. The next day, we’re pitched into a recession, major banks are in trouble and the housing market has collapsed. Because insurance is based on the concept of good faith, there’s supposed to be give and take on both sides of the relationship. An insurer cannot physically inspect every property it agrees to cover. To some extent, it must always rely on the honesty of the home owner to get proper estimates for the cost of rebuilding. After all, if the owner innocently underinsures, he or she will have to pay the additional costs out of savings. The insurer will not be at risk. If there was fraud, the insurer has the right to cancel the policy and avoid any payment. This protection for the insurer is fairly comprehensive. Hence, to offer better balance, most insurers offer guaranteed or extended replacement cover cover.

The point of this cover is simple. No matter how hard you try, no pre-estimate of the cost of rebuilding is ever absolute. It’s only when you get on the ground and start work you find out what all the problems are going to be. Costs have an unfortunate habit of rising and it’s relatively common for owners to have to sacrifice features of their old home to get the building work finished within budget. But, if you’re prepared to pay about 10% more on the premium rate, you can buy guaranteed cover, i.e. the insurer will pay the actual cost.

Let’s go back to the beginning again. Many insurance policies have a cap, i.e. the insurer places an upper limit on the amount you can claim. This may be a limit for all standard policyholders, or the cap may vary depending on the amount of premium you pay. The only way you can avoid the cap is by buying the extended cover. Why might costs go up significantly more than you expect? Suppose you bought an older home. It was picturesque with a wooden frame and shingles. If you now come to rebuild it, you can find reproducing the traditional building methods are expensive when you face compliance with the current building code. Everything may need to be redesigned including the electrical and plumbing systems. Once you are talking in hundreds of thousands for rebuilding, paying an extra 10% in premium can be very good value to get guaranteed completion.

Stepping outside the scope of the homeowners insurance policy, some insurers are now offering Home Value Protection policies to safeguard against a fall in the resale value of your property. In reality, this is slightly closer to a bet than most insurance policies and you need to read the terms carefully. Most have a high deductible if you claim during the first two years. Since most experts believe the housing market will begin to pick up again within the next two years, you may conclude such policies are not good value for money. Nevertheless, the next time you’re reviewing your insurance portfolio, it may be interesting to get additional quotes for Home Value Protection when you get your homeowners insurance quotes.

There’s a reason why most sites like this talk about discounts as the best way of saving money. It happens to be true but, to take advantage of the discounts safely, you need to think carefully. Let’s start with the most commonly mentioned. All you have to do to make big savings is to increase your deductible. Indeed, the theory is often proved correct that an increase from $500 to $1000 can save you up to 25% of the annual premium. But there are two issues to think about.

Many insurance companies are already increasing the deductible whether you asked for it or not. The reason for this is the rise in the number of claims from bad weather. No matter what your view on global warming or climate change, the last two years have seen record-breaking claims for damage caused by snow, flooding, tornadoes and hurricanes. This year is ending on another unusual note with unexpected snowfall disrupting the northeast in late October, early November. The amount of snow and disruption to more than 2 million homes has broken new records for October for West Virginia through to Maine. All these additional claims mean premium rates will be going up again next year, and the deductibles are being adjusted on a take-it-or-leave-it basis. Don’t be caught out. Before you raise the deductible yourself, find out what your insurer has done. Second, if you do increase the deductible, can you afford to self-insure all the small accidental losses around the home? If not, resist rises in the deductible.

Now on to the other discounts. In the good old days before the internet, people used to rely on the agent to claim all the discounts. These people knew you and your home. They understood the inner working of the insurers. They used to protect you (well, they were supposed to protect you). Now you have moved online, you are the only one who can look out for your own interests. There are a range of monitors and sensors you can fit to your home that will save you money. The details will vary from company to company so, before you spend any money, get a list of the approved devices and cost their installation. Never fit anything unless you can recover the cost in savings within a reasonable period of time. These include central station alarm systems for both unauthorized entry and temperature rises, smoke, water and gas leaks, and so on. Whenever you renovate, ensure your rebuilding cover is increased and that you gain access to the discounts.

Finally, revisit the question of bundling policies together with the same insurer. Almost all companies will give you a discount if you give them more business. So if you have one or two family cars, giving the same company both the auto and homeowners insurance policies can represent at least 10% in savings. This needs quite careful research to confirm. Get as many quotes as possible for individual cover with different companies, and then look at what savings you will get if you bundle with any one of them. Never assume one of your existing companies will give you the best deal. Always shop around and get as many car and homeowners insurance quotes as possible.

October 2011 has seen record levels of snow in the northeastern states. The insurance industry is already preparing for this year seeing the highest claims for winter-related accidents. If two years running represent a trend, we can look forward to 2012 being even worse. No matter whether you believe in global warming, the insurance industry is pushing up the premium rates for all policies covering weather risks. There are more tornadoes, more devastating hurricanes, higher levels of flood water and deeper cold. The moment you enter Fall, you should be doing preventive maintenance on your vehicle, checking the tread levels on your tires, and preparing for the worst in driving. All of which poses the question of what your policy actually covers when you find yourself trying to stay on the road in blizzard conditions.

Let’s start with the simple break down. There you are in a vehicle that’s immediately starting to cool. You say prayers of thanks for your foresight. You have boots and multiple layers of warm clothing in the trunk. You dress for survival and think about abandoning your vehicle. Except before you go, remember to call for emergency roadside service. Did you check whether your policy pays for this service? Some manufacturers include rescue as a part of the warranty for new vehicles. Now are you prepared to wait for rescue? It rather depends on where you are. In a city, it’s probably better to find somewhere warm to wait. Out in the country, it may be hours before anyone gets to you so, if you know there’s somewhere safe nearby, walk to it. Otherwise, did you remember to pack blankets? Should your vehicle be hit by someone else during this time, this will be covered by a collision policy. If there are thieves and vandals out in this weather, damage to your abandoned vehicle and loss of contents will be covered if you have comprehensive cover. As a final thought, if you do abandon your vehicle and the city tows you away as being illegally parked, you pay the fine out of your own pocket. Insurance does not cover citations.

In heavy snow or blizzard conditions, it’s easy to hit the curb. This is the same as a pothole in poor light. Most insurers will treat this as a collision and, if you have the cover, pay for repairs. But, before you take a final decision, get estimates for the repair. If it’s less than or about the same price as the deductible, you may prefer not to claim. As a final thought, suppose you lose control going down a slope and hit several parked cars. Remember it’s a criminal offense to drive away. Think of how you would react if you came back and found your vehicle damaged. It’s better to leave details of your name and insurer. Your liability cover will pay out for repairs to the owners. If you have it, collision cover repairs your own vehicle.

Closing the best deal depends on surveying the market, so get as many auto insurance quotes as possible and then check the terms of the policies on offer to ensure your winter driving risks are covered. Never assume the car insurance policy covers everything.