What is Auto Insurance Really All About?Written by Tim Gorman
Auto insurance is an agreement between you and your insurance company where you arrange to pay a premium in an exchange for peace of mind that your insurance agency will pay for vehicle related financial losses during duration of policy. You need auto insurance because you are liable by law to pay for losses you cause to others in event of an automobile accident. Purchasing auto insurance is surest way to guarantee you will be able to fulfill your end of bargain. In some states it is required that you have minimum forms of insurance in order to drive. You also must have insurance in order to finance a car.One of first questions you will be asked when obtaining automobile insurance is how much of covered loss or deductible do you want to be your responsibility? You may choose between $100, $250, $500, or $1,000. The higher your deductible lower your premium however you must keep in mind that deductible is amount you must pay before your insurance will assist you. If you cannot afford to pay first $1,000 of covered loss you may want to consider how much you can afford and choose a lower deductible. Your insurance coverage is broken down into each purpose you would need to be covered for. One of most common coverages include liability which pays out when insured driver is legally responsible for bodily injuries and property damage they cause to others. Bodily injury damages cover medical expenses, pain and suffering, lost wages and other special damages. Property damage includes damaged property and loss of use. Liability also pays legal defense expenses. Each state has a set minimum amount of coverage you must carry but you may opt for higher amounts.
| | Consolidating Your Government Student LoansWritten by Dale Ronewicz
A Consolidation Loan allows you to combine your federal student loans into a single loan with one monthly payment, which can be significantly lower than payment required under standard 10-year repayment option. Under Federal Family Education Loan (FFEL) Program, banks, secondary markets, credit unions, and other lenders provide Consolidation Loans. Under William D. Ford Federal Direct Loan (Direct Loan) Program, federal government provides loans.Most federal education loans are eligible for consolidation, including subsidized and unsubsidized Direct and FFEL Stafford Loans, SLS, Federal Perkins Loans, Federal Nursing Loans, and Health Education Assistance Loans. Private education loans are not eligible. PLUS Loan borrowers (parent borrowers) also can consolidate their loans. To apply for a Direct Loan Consolidation or an FFEL Consolidation borrower must contact lender and complete an application. Most lenders provide borrowers with ability to apply on-line or request an application over telephone. Once an application is completed and submitted, lender will request information from borrower’s other lenders or from its own system to determine amounts outstanding on borrowers loans. The borrower will then receive notification about consolidation loan, normal consumer disclosures, amount owed, and if appropriate, where to make payments.
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