5 Mistakes to Avoid when Buying Insurance

Buying insurance can be confusing, but when the unexpected happens – a house fire, a car accident or a bone fracture – it is a relief to know that some of those financial losses are going to be covered. But how do you know how much coverage you need? And what questions should you ask before buying a policy? Many consumers aren’t very sure. Insurance coverage is far from one size fits all, so here are mistakes some consumers make when buying insurance.
1. Assuming insurance is out of reach. In some cases, consumers skip insurance because they think it’s out of their budget. Often, that’s not the case, according to Marvin Feldman, president and CEO of the LIFE Foundation, a nonprofit organization that educates consumers about financial planning and insurance. The LIFE Foundation collaborated with LIMRA, a worldwide research and consulting organization for insurance and financial services, on the 2013 Insurance Barometer Study, which found that the average consumer thinks life insurance is three times more expensive than it actually is.

When buying health insurance or property and casualty insurance, ask about potential discounts. While health insurance discounts are often income-based, homeowners and auto insurers offer discounts for everything from being a member of groups like AARP, to being a good student or a good driver, to having a home security system.

2. Relying on assumptions or outdated figures. Changing economic conditions mean you might need more insurance coverage than you had in the past. Take life insurance. In the past, consumers might have based their life insurance coverage on their current income, but if something happens and you’re no longer around, you need more capital at work to provide the same income to your beneficiaries. Disability and long-term care insurance are even more complicated than traditional life insurance.

In the case of homeowners insurance, your home could be underinsured if you’ve renovated or if the cost to build a home has increased due to higher material costs or other factors. That’s why experts recommend reviewing insurance coverage once every year to make sure it still fits your needs. Talk to your insurance agent if you’re unsure.

3. Shopping on price alone. Resist the urge to simply choose the policy with the lowest premium. Consider the company’s reputation and the coverage you’d get for that premium. In general with health insurance, the higher the premium, the lower the amount you pay when you go to the doctor. Private health insurance plans must provide coverage examples showing what your estimated out-of-pocket costs would be for, say, having a baby or managing Type 2 diabetes. Some examples might not apply to you, but they can help you compare plans and see how much you might have to pay in coinsurance and copays.

Your property and casualty insurance may not cover things like food spoilage in the event of a power outage or stolen electronics worth more than $1,000, so you may want to purchase extra endorsements to cover those possibilities.

With disability or long-term care insurance, prices can vary depending on the length of the elimination period – the amount of time you must wait before coverage begins – and whether the policy includes inflation protection, so consider these factors, too.

4. Overlooking details. Make sure you understand what your insurance policy covers. For health insurance, it’s cheaper to see doctors who are in-network and buy prescription drugs covered by the formulary, so check to see if your doctor is in-network and if your prescription drugs are covered before you buy a policy. Otherwise, you could get an expensive surprise.Read your insurance policy and contact your insurance agent if anything is unclear.

5. Setting your deductible too low. Setting a low deductible typically means higher premiums, and in the case of property and casualty insurance, a greater likelihood of small claims that could ultimately raise your premiums. Insurance is designed to protect against losses you could not cover yourself, so if you can afford to pay the first $500 or $1,000 in losses yourself, you may not need a lower premium.

Primary School Trip Ideas for Your Class: Bristol Aquarium

Class outings are very exciting for both the pupils and teachers in primary school. Trips to various sites and museums are met with a sense of wonder and genuine curiosity by young students eager to learn. One of the most fascinating and popular places to visit in the UK is the Bristol Aquarium. The facility is packed with interesting exhibits and the staff are passionate about sharing their knowledge of all living things, above and below the water, with you and your class.
Bristol Aquarium

The Bristol Aquarium is a nicely sized facility to visit with a class from a primary school. Trips can be accurately tailored to various age groups and the place is not so vast that either the educators or children get overwhelmed. With more than 40 different themed displays the learning opportunities are endless.

From seahorses to puffer fish, piranhas, rays and even tropical sharks, the aquarium has an excellent collection of tropical and native UK fish on display. It also boasts a huge botanical house, which is home to a massive number of exotic plants and trees from around the world.

Year-Appropriate Curriculum

The Bristol Aquarium does a wonderful job of actively conducting curriculum-supported guided tours to make a teacher’s life that bit easier. Each tour has similar features including: • A tailored tour focusing on different themes or subjects • One hour of educational instruction • Engaging the children in interactive workshops during the tour

Teachers are also invited to the aquarium prior to bringing the children from their primary school.Trips can then be accurately planned, even down to finding a designated space for the children to have lunch.

Year 3: Animals – While Year 3 pupils begin to learn about animals and their needs to sustain life, the Bristol Aquarium offers multiple tours focusing on creatures and their diets – and even provides the opportunity to watch them at feeding time.

Year 5: Habitats – Students in Year 5 are encouraged to develop their scientific investigative skills during a visit to the aquarium that introduces an in-depth look at life cycles and their supportive habitats. Children will see baby seahorses, the developmental cycle of the Lesser Spotted Catshark and possibly even tadpoles.

Year 6: Evolution – The Bristol Aquarium is well equipped to tackle the topic of evolution with any class. Excursions focusing on this topic will begin with an exploration of rocks and fossils and builds on the understanding that things change over time.

Fun and Learning in One Place

The Bristol Aquarium is a favourite destination for children of all ages attending primary school. Trips are always exciting, informative and inspirational for the pupils and offer a greater understanding of topics being discussed in the classroom. Visits to the aquarium are best when planned and organised by a specialised educational tour operator. They will manage all the details, from bookings to making sure that there is ample parking for coaches on the day of the visit.

The aquarium is a place you might potentially visit numerous times, with various classes and ages from your primary school. Trips to this one location can be entirely different from each other, depending on the subject focus, so that the information remains fresh and engaging. Contact a school travel operator today and begin your class’s journey into the wonders of the natural world.

Author Plate

John Gardiner is the Managing Director of The School Travel Company, a tour operator specialising in educational travel for school and youth groups. Whether you’re planning primary school trips in the UK, Iceland geography trips or trekking expeditions to India, you can trust both the educational and economic value of their itineraries, whether ready-made or specifically designed to suit the needs of your group.

MageWorx Is Developing Magento 2 Store Credit & Refund Extension

Ensuring great customer experience is a surefire way to attract and retain users. Realization of this fact is, probably, one of the major steps to withstanding severe competition, irrespective of the business niche and size. By winning customer loyalty, owners of eCommerce websites grow their client base and boost business profitability. These are the major purposes pursued by MageWorx, which is right about to offer its clients an advanced eCommerce extension for Magento 2 – Store Credits and Refunds.
Magento 2 Store Credits and Refunds extension is going to provide a complete set of tools needed for effective and correct in-store currency management. If used properly, the tools can help boost the sales volume by adding web store credits for all the planned purchases, developing pricing schemes with these credits etc. What’s more, Magento 2 Store Credits and Refunds extension ensures full control over the credit balance of each registered customer, the ability to issue full or partial refunds with the credits, automated notifications about the credit balance etc. It is possible to add in-store currency either manually or automatically here.

The extension is still under development and will be released by MageWorx in the nearest future. What’s important, the developers offer free lifetime support and updates of the extensions after their release. For more visit https://www.mageworx.com/magento-2-store-credits-refunds.html

About the Company

MageWorx is a renowned, dynamic and powerful company, which focuses on the development and enhancement of innovative eCommerce solutions for Magento and Magento 2. The foundation of the company dates back to 2008. Since that time, MageWorx has notably evolved to become a reputable developer of eCommerce solutions used to boost customer trust and enhance shopping experience.