Category Archives: Economics

A Guide to Car and Motor Insurance

motor-insuranceHuntington News will in a string of articles focus on insurances. Insurances are important to have if things go wrong. But at the same time the wrong insurance will be a waste of money and may be useless when you need it. Our first article will be on how to find the right auto insurance. This article is written for both our US and international readers. Insurances differ in some ways from country to country, so we will try to highlight these differences when they are relevant.

How to Shop for Motor Insurance

For the most ideal transaction, shop around. Obtain numerous car insurance quotes from varied insurance firms prior to you purchasing or renewing your policy. Insurance firms are different; therefore, you can obtain a better transaction elsewhere.

Avoid being scared of changing. You can change insurance firms any time you desire; even at the middle of your car insurance policy period. If you get an improved rate, change and save.

Three kinds of car insurance exist:

  • Third party, that caters for your legal liability in case you destroy another individual’s physical belongings such as (walls, cars, gates, etc.) because of a driving accident.
  • Third Party, Fire and Theft, presents third party cover and includes a couple of helpful sections of cover – fire damage to your vehicle and theft, as well as destruction caused by stealing or attempted stealing.
  • A totally comprehensive policy is inclusive of Third Party, Fire and Theft and shall additionally pay for destruction to your personal car in case of an accident. A lot of perks are available also; for instance, it shall also offer you cover when you drive vehicles belonging to other individuals. This is helpful if you borrow another person’s vehicle and you are not covered by their insurance.

The elements below have an impact on the payment you submit for your premiums

  1. Your work
  1. Your age
  1. Your driving record

The vehicle you drive: The more expensive the car, the higher the premium. Cars of top performance are also more costly to insure, compared to their stock standard counterparts.

Vehicle Location: You shall pay extra if you keep the vehicle in a location where crime is rife or park it at night on the street.

Purpose you utilize the car for: You will pay extra, for instance if you intend to utilize the car for business delivery intents.

The excess set-up you select: The more the excess, the less the premiums.

Satellite Tracking and Gear Locks: Shall assist to lower your premiums.

In case you are purchasing another vehicle, do not overlook to shop around for insurance!

For someone who is purchasing a vehicle for the first time, the procedure can be a hard decision. A lot of purchasers do not know that they should have insurance prior to driving their latest vehicle from the showroom floor.  The financial institutions offering the funds for the purchase shall be adamant about this so as to facilitate the safety of their latest asset.

auto-insuranceDo not simply give in to the initial offer presented to you; obtain a minimum of 3 quotes prior to reaching a decision. Sites like DurchblickerBilforsikring, Chill, and Money Supermarket provide insurance comparison services. But do not forget to contact insurers directly to get quotes from them too. But remember: ‘A lot of finance institutions or banks are associated with an insurance firm or brokerage company. So, new purchasers might experience pressure to obtain insurance cover via the supplier the bank prefers.’

It is vital to be aware that it is not possible to implement this and the client is the one who should decide. This makes it necessary to shop around for quotes that are competitive to make sure you are presented with the most ideal transaction; in regard to cover as well as cost.

‘This is mandatory for youthful drivers, since they are regularly fined for their age and absence of driving experience, leading to increased premiums and excesses.’

Cash purchases are not excluded from the requirement of insuring their latest car. Hijackings and thefts remain a reality and the increasing number of vehicles on the road places all drivers at increased danger of getting into an accident.

Selecting an insurance product which is appropriate in regard to value adds, budget and excess to be paid is a meticulous decision. With the correct advice, it can be made logically and safely.

A lot of youthful, first-time purchasers discover that buying insurance via a direct insurer is in reality, an easy procedure.

It is possible for them to attain a customized insurance solution which meets their particular requirements. Using direct insurance, extra charges are not paid by clients to obtain what they require.

Any driver on the verge of going to buy a new car would be advised to think of the direct insurance advantages, which entail saving time and cost.

For sale by owner on the rise in Denmark

realestate

Danish real estate is increasingly sold without the involvement of a real estate agent.

Especially the cooperative housing market sees a large share of the real estate sales being sold as “For sale by owner”.

According to a report in september 2014 6,6% of all new real estate listings were done as “For sale by owner”. The same number from the year before was 4,4%.

The rise is predominately due to a larger number of real estate in the cooperative housing sector is sold by the owners without engaging a real estate agent. In Copenhagen 41,9% if all new real estate listings with cooperative housing was done as “For sale by owner”.

There has been a rise in the number of websites assisting the owners with advertising there real estate online on a “For sale by owner” basis. The most popular are Boliga.dk and Selvsalg. Especially Bolig.com has been increasingly popular due to it being free.

The traditional real estate agents normally take a fee of around between 3.000 to 5.000 USD. Therefore many sellers would try to avoid using the traditional real estate agents.

 

INTERNET FINANCE BOOM IN CHINA

china

Last 2013, online wealth management had made its advent in China. Ever since the world’s businesses have gone mobile, China’s investment has also made the same turn. What people need to know about it is that internet finance primarily encapsulates three things: (a) lending, (b) payment services, and (c) financial consultancies (Jingu, 2014).

According to experts, the reason behind the boom in internet finance in China is the list of deficiencies that can be encountered by a customer with traditional financing. Alipay, one of China’s payment services, was recently dubbed as the most popular online payment choice for the reason that it allows people to safely use their credit cards in purchasing products online. Unlike traditional banking, Alipay is so much easier to use since it does not complicate the procedures of shopping payment. Furthermore, it is complete with security guarantees unlike traditional banking. Because of the evident deficiencies in traditional financial products, more people now resort to using online internet financial tools. This, however, had put a lot of pressure on various Chinese banks as people decided to shift their deposits to online-based wealth management financial products.

In order to compete against the booming internet finance in China, a number of traditional joint-stock banks have decided to introduce money market deposit accounts which will allow several banks’ customers to withdraw their savings from automated teller machines (ATMs) and pay their debit cards through a money market account like a typical savings account.

The evident boom in the realm of internet finance in China can be credited to a subdued formal financial system. As what most people are aware of, China’s banking system is highly regulated, meaning interest rates and monopoly state banks are controlled. Because of this, most people are not able to receive favourable and real returns from the bank deposits they have made.

The formal financial system’s flaws are believed to be the chief reasons why shadow banking had managed to rise after the global financial crisis back in the year 2008; however, even though internet finance is obviously changing the landscape of the financial sector in China, this change will not permanent. Soon enough, banks will be able to compete with internet finance.

The Governor of People’s Bank of China, Governor Zhou Xiaochuan, aims to liberalize interest rates after 2015 in order to allow banks to compete with the flourishing internet finance. One principal reason why the boom in internet finance will not last very long is China is because Chinese traditional banks plan to adopt internet finance as they restructure their business operation. As a matter of fact, Ping An Insurance Group had already decided to launch its own Peer-to-peer business. Experts say that it is to be expected that others banks will soon follow to this trend and employ the same tactic internet finance private firms usually use. If banks will not adopt the said trend, it is very likely that they will lose higher rates of market share. In many ways, internet finance has proven its worth as an efficient tool in enhancing China’s financial system. It might even be the beginning of financial liberalization.