Householders have been warned that being away from their property for more than 30 days at at a time could mean their home insurance policy is void.

Britons intending to take an extended holiday of more than 30 days have been told to check the details of their home insurance policy.

According to Sainsbury's, more than a third of the products on offer will only cover a home for up to 30 days of unoccupancy. The firm used the recent burglary at singer Amy Winehouse's flat as an example, citing the fact that she had been in St Lucia for more than 30 days when the theft took place.

Additionally, Sainsbury's discovered that 4.79 million Britons intend to spend more than a month at a time away from their home this year.
Peter Staddon, head of technical services at the British Insurance Brokers' Association (BIBA), said that individuals going abroad for long breaks, such as older people escaping the winter, must "let people know".

"Perhaps switch off your utilities at the street level to avoid flood damage or unwanted charges and set your heating to come on if the temperature drops below about 12 degrees C," he added. "A lot of personal properties, including buildings and contents policies will have a maximum unoccupancy limit of 30 days, so look at your policy, check what it says then call your advisor and ask them what you need to do. "

Discount Car Insurance

In the competing auto insurance industry, companies are working hard to lure insurance seekers to their organizations. Insurance is a very competitive market, so you may need to dig deep to find the discounts for which you could be eligible. Many insurance companies offer multi-auto discounts and multi-policy discounts, but there are often other ways to save on your discount auto insurance that may not be as well known.

First, it is important to shop around to make sure you are taking advantage of all the discounts companies have to offer. Ask questions and be willing to offer information about yourself including your age, gender, and even your occupation and hobbies to see what discounts for which you could be eligible. Talk to brokers and agents to find out what discounts vary from company to company, and which ones are pretty standard for almost all auto insurance providers.

For instance, insurance companies across the board tend to give you a discount for being accident free and having had no moving violations in the past three to five years. It makes sense, as most companies find safe drivers less risky. However, there are some lesser known discounts based upon what you do for a living, your age, and more that you could apply to your policy.

●First, do you have a college degree? If you do, you could get another discount on your insurance. One insurance company discovered that people with engineering degrees were lower insurance risks than other individuals, so they offer between a 10 and 30 percent discount to engineers and scientists. Some insurance companies also offer discounts off automobile insurance premiums if you are a graduate of a four year institution and you are under 30 years old. The pennies you save here may even help you pay off that student loan faster!

●Another career that can get you a discount on your auto insurance is being an educator. Teacher discounts vary from company to company, but most of the discounts for educators range from 8 percent to 30 percent. Many companies require that the teacher be a member of the state educators association or NEA, but the discounts often more than compensate for the association dues.

●Current members of the Armed Forces and veterans are also eligible for significant discounts on their auto insurance. Many insurance companies offer discounts and programs available to veterans and those soldiers on active duty. Discounts vary from company to company, but most auto insurance providers have discounts available to those people who are serving or have served their country.

●Are you a member of AARP? If you are, then there may be even more discount auto insurance programs available to you. Many insurance companies have programs for people who are members of AARP, and some even have non-cancellation clauses and other discounts for seniors.

●The fifth and not so little known way to save is the internet. It is not so much that the internet holds hidden discounts, but that many people are still somewhat skeptical about using the web to purchase their auto insurance. However, there are companies that will offer discounts if you purchase directly from their website. Our service compares actual discount auto insurance companies in your area, not just internet exclusive insurance companies.

The key to finding little known discounts for your auto insurance is to do your research and ask. Browse all articles pertaining to information you need and use our free service. We trust that saving on your car insurance will be a painless process.

Choose Your Car Carefully: What Cars Cost the Least to Insure

There are a number of lists out there about which cars cost the least to insure, and for the most part, they are pretty accurate. However, understand that there are a number of factors that go into calculating your auto insurance rate, from credit to driving record, that have nothing at all to do with the type of car you drive. Still, if you are looking to save some money on your auto insurance, starting off with a car that typically costs less to insure gives you a leg up on savings.

Even though having safety features on your vehicle may seem like a great way to save money on your car insurance, it does not necessarily mean you will get the best deal. For instance, a high-end vehicle may come with every gadget known to the industry, but it may also cost more to replace or fix if it is stolen or damaged in an accident. Therefore, this high-end vehicle may not save you any money on your car insurance.

For instance, if your overall budget is in question, spending $40,000 on a car with a lot of safety features with $4500 in insurance premiums over 5 years is not saving you money over the $15,000 car that costs you $4,300 in auto insurance premiums over 5 years. Balance out your desires and perceptions with your reality and budget. However, that $40,000 vehicle might be a safer car and give you more peace of mind.

So, what are some of the best cars to buy if you are looking to get a great deal on your auto insurance? Based on statistics gathered for the 2004 models, the PT Cruiser ranked at the top of the list. A $17,500 vehicle would cost around $4,200 to insure over 5 years (based on rates in Chicago). Other cars in the top 5 were the GMC Safari, Dodge Caravan, the Saturn ION, and the Pontiac Sunfire. None of these cars cost more than $30,000, and all were under $4,500 in insurance premiums over a 5-year span.

How do the insurance companies determine which cars cost less than others to insure? There are basically three criteria that the insurance companies use to determine rates. The first criteria is liability, or how much damage the car will cause to other property in an accident. A large SUV that will cause significant damage will cost more to insure than a smaller car. Safety is another important criteria in determining insurance costs. If you drive a safer car, then your rate will typically be lower.

Finally, the likelihood of damage or theft is a very weighty criteria in determining the cost of insurance for your car. There are a number of lists out there telling you which cars are most likely to be stolen (and the list will probably surprise you). Also, if your car is likely to be damaged easily, then your auto insurance rate will be higher. If you drive a more expensive car to repair, your auto insurance premium will be higher, too.

When looking at cars in relation to auto insurance, you need to make sure you are not buying a car you cannot afford, just because the auto insurance rate seems better. What you will save in auto insurance will not necessarily weigh out the difference in your monthly car payment, so make sure both will fit in your budget.

AIG Update: IPO Looming?

By Pat Speer March 1, 2009

The board of American International Group Inc. (AIG) on Sunday is reported to have approved an extensive revision of the government's $150 billion bailout, according to Reuters. The news comes after a week of rumors that AIG and government officials were contemplating slicing the organization up into three separate companies, and on the verge of the company releasing a roughly $60 billion loss early on Monday.

A source with “direct knowledge of developments” told Bloomberg today that as part of the deal, in a meeting with the government AIG said it planned to rename its property-casualty business to differentiate it from AIG, and it will be given its own board of directors, said the source.

AIG reported that the division was losing employees and having difficulty attracting new clients as a result of its financial problems.

INN reported last week that John Williams, previously SVP of operations at one of AIG's fastest-growing commercial units in the , its small business division, is joining Torus Insurance Ltd. as global head of business operations. Hiscox, a specialty insurer, said it hired Steve Silverman to lead Hiscox's newly created inland marine business. Silverman was AVP and product line manager for AIG's Lexington Insurance's inland marine and specialty property business in the and .

INN also reported through Reuters last week that bidders were predicted to emerge for some Asia-based units of American International Group Inc. (AIG).

The paper named Toronto-based Manulife Financial Corp. and London–based Prudential Plc as potential suitors. The article also says the two companies may team with a sovereign fund based in to buy another AIG unit, American International Assurance Co.

For the latest on the additional $30 billion in bailout funds from the Treasury, click here.

Top 10 Auto Insurance Myths

The color of my car determines my auto insurance rate. My credit score has no bearing on my insurance premium. I have auto insurance coverage so my new car is already covered… right? Maybe not! Below is a list of fallacies many car owners believe and drive by each day. The truth just might make you change course.

Myth #10: "No-fault insurance means it's not my fault!"
False. Basically, no-fault insurance means that your insurance company pays for your damages regardless of who's at fault.

Myth #9: "The color of my car affects my insurance rate."
False. The color of your car does not impact your car insurance rates. What does influence your rate is your vehicle's year, make, model, body type, and engine size, along with your credit history and driving record.

Myth #8: "If I lend my car to a friend and that friend is in an accident, his or her insurance company will pay for the damages."
False. Your car, your responsibility! However, your friend's insurance could act as excess insurance if the damages exceed your policy's limits. And guess what, even though you weren't present at the time of the accident, it will go on your insurance record and your insurance premium could go up.

Myth #7: "My insurance rate is set by the government."
False. The government does not set your car insurance rate. Your state's insurance department only regulates the rates car insurance companies are allowed to set. Where you live, your credit score, marital status and your driving record is what actually affects your premium.

Myth #6: "I recently paid my insurance premium, so the new car I just purchased is covered."
True, up to a point. Most insurance policies require that the policyholder notify the car insurance company or agent within a specified number of days after purchase.

Myth #5: "It's a fact. Males under the age of 25 pay more for auto insurance."
True and false. Males under 25 years old usually pay more for car insurance than female drivers under 25. However, across the board, teenagers and seniors pay more for auto insurance, in large part because these age groups are typically involved in more automobile accidents.

Myth #4: "My credit score has no effect on my insurance rate."
False. Your credit score really does matter! Many Insurance companies take your credit score into consideration when you want to purchase, change, or renew your auto insurance coverage.

Myth #3: "Even without comprehensive coverage, I'm still covered for theft, windstorms, hail and deer accidents."
False. Many drivers believe that if they only purchase collision insurance—which covers damage to your car resulting from driving accidents—that they will also be covered for incidents that involve vandalism, hail, animal accidents and fires. That simply is not true. You need to purchase both collision and comprehensive coverage in order to fully protect your vehicle from all of these situations.

Myth #2: "My personal auto insurance covers both my personal and business use of my car."
Be careful. It might be able to cover it, but you need to check with your car insurance company. If you occasionally use your personal car for business purposes such as transporting clients, going to and from meetings or hauling business equipment, then you will more than likely need to extend your personal car insurance to cover your business use. Plus, if your employees use their car while working for you, you will want to also obtain a separate non-owned car insurance policy.

Myth #1: "I've never had or been involved in a car accident, so I don't need automobile insurance."
False. Some drivers are lucky enough to avoid accidents. However, car insurance is the best protection you can have in the event of an auto accident. You are also legally required to have some form of auto insurance, and failing to do so can carry strict penalties.

How Much Life Insurance Do You Need?

If you're researching your life insurance needs, you might well be getting a lot of complicated information. It's not a simple subject.

Some financial advisors will tell you to multiply your annual income by a certain number, like 20. Others will tell you to buy only enough life insurance to replace the income you are expected to make between now and retirement. Some might recommend you buy only enough life insurance to cover your present debts.

The question "how much do I need" might not be the most useful way to approach the problem. The question you may want to ask is, "What do I want my life insurance to accomplish?" Then you can start to determine how much life insurance you'll need. Calculating your life insurance needs takes homework. It requires an individual solution, not a one-size-fits-all approach or a throwaway equation.

Why Do You Need Life Insurance?

This is a specific question, not a general topic. Think about why you're considering life insurance, or why you're considering an increase in the amount of life insurance you have. The most common reason for purchasing life insurance is to replace the income of a family member that others depend on. For that need alone, it's usually acceptable to multiply your annual salary by 20 and buy that amount of term life insurance for a period that will cover you until you retire.

If you have additional debts or obligations, you can consider adding those to the amount of insurance you need. However, keep in mind that debts and obligations like mortgages usually decrease over time, while a family's need for income replacement does not. If you and your spouse both work and are financially stable, it might not be difficult for your spouse to pay off a mortgage or debts, as long as you buy enough insurance to replace your income. If you're a single parent, however, you would probably need to purchase enough coverage to pay off all debts so that they're not passed on to your children.

Not Leaving a Burden

For some people, life insurance may seem too expensive, especially if they're just starting a family. If that's the case, it may make sense to initially purchase only enough insurance to cover your debts and obligations. Although you need to realize that it's risky to be underinsured, it's better that not having any life insurance. As your financial situation improves, you can usually purchase more insurance under similar terms.

For single people with no children, purchasing a small amount of life insurance can be an inexpensive way to cover debts and final expenses.

Additional Life Insurance

UsesNot everyone buys life insurance to replace income. If you're wealthy, have a large estate, or simply wish to donate to charity or establish a trust for your family, life insurance can be a smart purchase. If you have a large estate, you may want to consider buying a life insurance policy as a way to pay the estate taxes when you die. Otherwise, your family could be forced to sell off assets in order to pay the estate taxes. Life insurance could also be a good way to donate to a charity without paying taxes, or to establish a trust for your family or for philanthropic purposes.

Regularly Review Your Insurance

Because things change and it's impossible to predict the future, it's important to review your life insurance needs and coverage at least annually. If you make a change in your life, such as getting married, buying a larger house, or having children, your life insurance needs will probably increase. If your salary increases dramatically and your family becomes accustomed to a higher standard of living, your life insurance needs will also become higher. If you're certain of one of these changes before you purchase life insurance, make sure to include your expected circumstances in your insurance calculations.

My Tree Fell on My Neighbor's Porch - Whose Home Insurance Covers the Damage?

Sometimes, a tree falls in a forest and someone does hear it. Or, it falls onto your neighbor's property and damages something. When that happens, their homeowners insurance company will be the one to hear about it.

Dr. Robert Hartwig, President of the Insurance Information Institute (III) knows first-hand how homeowners insurance can become involved when one of your trees falls on a neighbor's property.

Whose Insurance Pays?

If one of your trees falls and damages a neighbor's property, "generally speaking, it is your neighbor's insurance policy that is called upon to pay the damage," points out Hartwig. "Since his insurance is being impacted," Hartwig continued, "you probably won't face an insurance premium increase as a result."

However, "your neighbor could come after you to cover his deductible. Matter of fact, when one of my trees fell on my neighbor's fence, it destroyed some of his fence and damaged fruit trees. In the interest of neighborly relations, I voluntarily paid for a new pear tree, so between what the insurer paid and what I paid, he didn't have any out-of-pocket expense," says Hartwig.

The upshot? "My neighbor and I are still on speaking terms, which is a good thing. I paid for the new fruit tree, because I thought it was the right thing to do, although I was not obligated to do that." Hartwig's story underlines the fact that, in general, your neighbor's insurance covers your neighbor's property. However, although you and your insurance company may not legally have to make a payment, it's usually best to maintain good relations with those around you.

Negligence Liability

The major exception to the rule of thumb that your neighbor's insurance will pay is the case of negligence on your part. If your tree was dead or diseased, and a judgment or settlement finds that you knew or should have known about that, you could be legally liable for the damages. This is especially true if your neighbor has documentation proving that he or she complained to you or the city about the state of your tree.

Section two of most homeowners insurance policies covers liability, including the cost to defend you in a lawsuit. Your neighbor could submit a claim to your insurance company if they believe you are at fault. If your neighbor sues you, claiming that you were negligent in failing to take care of your tree, your insurance company will pay to defend your case, and will pay for damages if you're responsible. The cost of legal defense is in addition to policy liability limits, although the amount of damage paid for is subject to these limits.

Prevention is the Best Cure

To avoid this situation, have your trees trimmed and inspected periodically to make sure they're not dead or falling down. If you're worried about trees on your property falling during a storm, have them trimmed or removed. If you are concerned about a neighbor's tree, write a polite letter to your neighbor and the city, but realize that it may cause a disagreement.

Other Homeowners Insurance Options

Another option under your own homeowners insurance policy is the Damage to Property of Others coverage in the Other Coverages portion of the liability section. This coverage does not have a deductible and it can be used without a judgment or admission of legal liability, which can help speed up the payment process. The amount of coverage for Damage to Property of Others, typically $1,000, is in addition to the policy's liability limits. However, remember that using your own insurance constitutes a claim against it and a possible premium increase. Therefore, only use this type of coverage if you can't afford to pay for the damage yourself.

If your tree falls on your neighbor's porch, your neighbor's homeowners insurance will usually pay for the damage. However, remember that each area has different laws, and each policy has exclusions explaining what is not covered.