Car insurance with no claim insurance favorable or not

Car damage is always annoying, especially if you lose your accrued no-claim discount. Since a year, more and more insurers have been offering a solution for this with the so-called no-claim insurance. This additional car insurance may be useful, but not for everyone.

Every car owner normally receives a discount on the premium if he does not claim any damage in a year. But a scratch in the door and a dent in the bumper are of course made that way. If you want to claim this damage, you fall back a number of steps on the bonus / malus ladder and lose part of the discount. This can be prevented with a no-claim insurance. You can then claim car damage from your insurer once a year while retaining the discount, regardless of the extent of the damage and the number of claim-free years. That sounds attractive, of course, but in some cases this additional insurance is not useful.

Useful or not?

Are you already on the highest step of the bonus/malus ladder? Then no-claim insurance is probably superfluous. Many companies give you bonus protection with the maximum discount. This means that you can claim the damage without being deducted from the premium. No-Claim insurance only makes sense if you have to claim the second claim in a year.

No-Claim insurance can be useful for young drivers. After all, they still have to build up their no-claim discount and relapse on the bonus/malus ladder can be annoying. For example, if they can no longer raise the premium as a result. Insured persons who have been driving for a longer period without damage but do not receive bonus protection can also benefit from no-claim insurance.


Miranda has been running without damage for three years and is therefore on step 9 of the bonus / malus ladder. That gives her a discount of 55 percent. Her basic premium is 1,000 euros, so she pays 450 euros a year. After a damage, she falls back from step 9 to step 5 with a discount of 35 percent. She will then pay a premium of 650 euros. Moreover, it takes four years before she returns to her old level.

If Miranda had had no-claim insurance, she would not have fallen back on the bonus / malus ladder and her premium of 450 euros would have remained the same. It does, however, pay 50 euros per year for the no-claim insurance. Her balance had thus been 150 euros on balance. Moreover, with no-claim insurance she had reached step 13 (70 percent discount) of the bonus / malus ladder after four years. Now it takes her eight years to reach that step. Her advantage is therefore in fact even greater.

You can calculate whether or not a no-claim insurance is useful for you using the bonus / malus ladder. Every insurer uses a different bonus / malus ladder.

Offer and premium

A rapidly growing number of insurance companies offer the no-claim insurance. These currently include Polis Direct, Interpolis, Centraal Beheer Achmea, Fortis ASR, FBTO, Generali and HEMA Verzekeringen. The premium varies per insurer, but is around 5 euros per month per car. When calculating premiums, Interpolis also takes age and type of insurance (WA or All Risk) into account. Fortis ASR calculates the premium by taking ten percent of the annual car insurance premium. For more information you can contact one of these insurers.

You cannot compare no-claim insurance on Lender. You can, however, compare almost all car insurance policies.

Comparing car insurance is saving

With car insurance the premium differences are large, so calculating your car insurance by comparing your car insurance with almost all providers on the market is worthwhile. Moreover, making a comparison is a very quick and easy way to save a lot of money.


The costs of endorsing insurance to a mortgage loan

In Mexico we are lucky to be able to choose who to buy the lien release policies and against all risks when we ask for a loan or a mortgage transfer. We have the option of taking either the bank offers or our co n bond insurer.

Recently, a client chose to buy the policies from his insurance broker. They were a little cheaper than the bank. What was not expected is that the financial institution will charge you for the study and endorsement of mortgage credit insurance.

– Does it make sense? -I wonder.

Yes, I think he does. Let’s get to the root of the matter.

What are the policies requested by the bank when granting a mortgage loan?

Financial institutions always ask you for two policies:

1. Lien freedom insurance

1. Lien freedom insurance

There are several modalities of this policy, but the important thing is to understand why the bank asks for it.

Suppose you lend money to a couple well known to your family to buy a nice house. Each month, without fail, they pay the fee. One day, they let you know that the couple has had a serious accident. Apparently, they will not be able to return to work. The e gras because you are alive and then ask yourself, how you get your money back. True?

The lien release insurance does exactly that: it guarantees the bank that in case of partial or permanent disability or death, the outstanding debt will be canceled, that is, the business will have the expected closing. If something serious and unexpected happens to one or to all those who acquired credit, the family will not vouch for the pré s chaff.

It is of substantial importance, don’t you think?

2. Insurance against all risks

2. Insurance against all risks

When taking the credit, the financial institution will ask you for an all risk policy, insurance that covers real estate. You would also do the same if it were the case. I explain.

When granting the credit, the bank delivers the money and as a guarantee that you will pay the debt, mortgage the property. Of course, the bank needs your property to be in good condition to serve as collateral. If, for example, a fire occurs, it could lose value. That is why it has the obligation to reduce the risk. The shape? Safe to assume the cost of recovering the property, if affected, or pay your value if the loss is total.


What do banks evaluate to approve a mortgage loan transfer?


Do you want to know what are the five big questions that financial institutions ask themselves to approve a transfer of mortgage credit ? Banks have clear procedures for each of their tasks. The transfer process is no exception.

Every time I take the advice of a mortgage loan transfer, I check if my client’s business is adjusting to what banks expect from their businesses. I ask the necessary questions to know how the client is in five aspects, which, basically, the financial institution will verify to decide if it wants to establish a business relationship with a potential client. I explain to you:

How much do you owe?

How much do you owe?

The business starts with the information of how much you want to ask the bank. That depends on everything. The amount of the credit determines the rate and, of course, the borrowing capacity. It is not the same to ask for $ 1,000,000 MX pesos than $ 100,000 MX. The entities establish price ranges (rates) according to the value of the debt. And, of course, verify that the client can pay the monthly payments for that credit.

In a transfer it is normal that the value you owe the bank is requested. Thus, when they make the disbursement, you can pay all the debt and continue the business with the entity that approved the transfer.

At what rate did they lend you?

At what rate did they lend you?

The bank verifies the CAT (Total Annual Cost) with which you contracted the loan, what the bank does is: will I be able to compete with a better offer and conquer this client? The financial institution is interested in staying with your business, and knows that the only way to do it is via rate. You want savings. They know.

Whenever they make you an offer, check the CAT, which includes all costs: insurance, lien, etc.

How many months left to finish paying the credit?

How many months left to finish paying the credit?

Financial institutions are friends of the long term. They will prefer if many years remain. But they won’t exclude you if few are missing. Time is part of the financial equation. Amount, rate, time are the variables necessary to establish the value of the monthly fee.

If you are interested in other products of the bank to which you are requesting the transfer, it is time to speak. It is important that they value the customer and all their businesses.

How is your borrowing capacity?

How is your borrowing capacity?

This aspect is key. Entities will review your economic situation before approving a mortgage credit transfer. Now you know. You must submit all documents that prove your income, whether you are independent or dependent. Each bank has its list of documents. Of course, it will check the information you submit. The ideal is to show that you can pay the credit and all other normal expenses of life.

How has your financial behavior been?

How has your financial behavior been?

This question is very important. I left it for last as the famous dessert cherry. Without it, there is no emotion. As well. All financial institutions will assess whether you have been paying your mortgage credit monthly payments, including your credit card fees and other debts. If you are reported, it is preferable not to initiate the transfer request. Unfortunately, if you have had some difficulties and have not been met with the fees, the bank could refuse the business.

The ideal is to take care of credit behavior. You never know when you need to show it to do good business.

A mortgage transfer is made with the objective of improving business conditions, that is, the rate, the monthly payment and the final value of the credit. Also, you could consider changing the term, more time or less time, depending on your needs. Saving is what should be targeted.


What is penalty interest?

If you have borrowed money, you repay this borrowed money in monthly installments. This applies to both mortgage loans and consumer loans. Examples of the latter group are the revolving credit and the personal loan. Of both the mortgage and the consumer loan, in the vast majority of cases, the monthly installment consists of a repayment and interest.

It may sound a bit strange, but you may be confronted with so-called penalty interest on the personal loan and the mortgage loan. The reason why you pay penalty interest lies in the fact that the lender misses interest income with extra or early repayment.

The personal loan

The personal loan

We take the personal loan first. This is the loan form without surprises. The interest is fixed and you repay the loan in a number of fixed monthly installments. The penalty interest comes into play if you want to pay off the personal loan more quickly or you want to repay it extra.

With regard to penalty interest, there is a European directive that reads as follows:
You pay 0.5% of the amount that you pay off prematurely, if the loan runs for a maximum of one year.
You pay 1% of the amount that you pay off early, if the loan is still running for at least a year.

European guide line

Most lenders follow this European directive. However, there are also lenders who do not charge penalty interest for early repayment of a personal loan.

The mortgage

You can also incur penalty interest when you make early or extra repayments on your mortgage. It is of course very unfortunate if you have to pay for this. Always ask your mortgage provider how much you can pay each year without penalty. Most mortgage lenders apply the guideline of 10 or 20 percent of the mortgage debt.

You may also be faced with penalty interest on your mortgage if you want to transfer it to another party. Whether, and if so, how much you must pay in penalty interest depends on the remaining term of your mortgage. Of course, the shorter the term, the lower the penalty interest. In a single case, the penalty interest is tax deductible. This is only the case if you are faced with penalty interest in connection with the purchase of a new home.

What is penalty interest

Penalty interest is really nothing else than a compensation that you have to pay to your lender for the fact that this interest goes wrong because you pay off the credit there earlier than agreed, so it is a compensation. The penalty interest can occur with all loans and it is therefore important that you take this into account when taking out a loan. Even a credit with a mail order company may have included a clause so that when you pay off the amount due in one go, additional costs will be charged.

Penalty interest when buying a car

When purchasing a car, however, something remarkable occurs. The prices of cars that you see on television are generally prices based on the fact that you take out financing with this car with the same company. In other words, if you have savings and you pay the car in cash, then it can happen that you have to pay a higher amount, actually a penalty interest without ever having taken out a credit for that purpose.


Who Do People Take Consumer Credits?

Consumer credit is one of the most demanded types of credit to fulfill a variety of wishes, because unlike a car loan or a mortgage loan with consumer credit you can get money in your account and do whatever you want with that money. Of course, if you already know what you have done, you can tell the bank or the non-bank creditor, because then you have a chance to get a lower interest rate, but you don’t have to do it and so the consumer loan is so tempting because you can spend as much as you want. If you like to sit at home and do nothing on the TV screen, then taking a consumer credit and unpaid leave for 3 months you can relax it well.

But if you like to travel then consumer credit will suit you both to buy tickets and to live at your destination. The money you receive in consumer credit gives you the freedom to do whatever you want, and the name of the loan already has the word “consumption”, which then also means the consumer or you and the fact that you can spend it as you wish. People spend on consumer credit on a wide variety of things and definitely can’t even list them all because I can’t imagine all the ways to spend that money because, for example, how do I know where a beekeeper would put such money or where the pilot spend it. I can only give you an insight into where people spend that money and then you may also have ideas on how you could spend money borrowing it . But, this does not mean that everyone suddenly has to go and take loans to get extra money, and people usually know where to spend before they get the credit, so this is just for information purposes.

Applying Consumer Loans:

Buying a car

Buying a car

One of the most used options is to use a consumer credit to buy a car, because car loans are often only granted for a certain amount, and then Casco is immediately needed. That’s why people prefer to take a consumer credit and then buy a car and not get it insured with Casco because the old car doesn’t need it. If you borrow 1-4 thousand, then you will not get anything less than 10 years for this money and no car loan issuer will want to lend to such a machine, because they usually earn only large sums of thousands and tens of thousands.


Journey is also a very popular use of consumer credit, because people often choose to travel to different exotic places and it costs quite a bit, so it is also necessary to take credit. With consumer credit, you can either buy tickets for a destination or just pay for a hotel rental. All the expenses related to travel can be covered by this credit, and so is its magic.


Cars, apartments, or other repairs are usually considered as unexpected expenses and when they happen, you have to borrow money to cover them. With consumer credit you can also pay for both the service and the repairman and don’t have to worry about getting the money!

Household appliances and furniture purchases

People often buy household appliances and furniture better with consumer credit rather than leasing, as consumer credit has a lower interest rate and is usually more prestigious, but leasing time has already passed. Furniture and appliances can be bought when they break up for simply outdated techniques or furniture replacement, it is a consumer’s free choice. Entertainment – And although I do not support entertainment on credit, people sometimes also choose to have fun with credit than to save money and then knock down. This is how good parties are arranged and it is said to be ” put on the fires ” and then the money is gradually repaid.

Consumer credit is a good way to get money for any spending, but it must also be careful, because you have to remember that money you have to give back!


Loan to Those in Hard Situation

Information and guide about banks, firms that give credit to those in distress, who give money to those in distress. In line with daily living expenses, cash problems and some needs, we may have a shortage of livelihoods and we may need money urgently. In such times, it is necessary to find money urgently.

Banks are the first institutions that come to our minds about cash. Thanks to the banks that serve customers with many products such as loans and credit cards, we are able to eliminate our cash shortage and meet our needs easily. People in difficult situations can enter into research on which banks give loans.

People in difficult situations often end up in a deadlock, so they can resort to some illegal methods. At the beginning of them are usurers. But it reminds me that this method is completely illegal, and we need to say that you should never get involved with usurers. What are the banks that give loans to those in difficult situations?

Banks Lending to Those in Distress

People’s working lives can be stuck from time to time in mishaps and obstacles, and financial losses can be experienced. Other than that, you may have sudden money needs. In addition, weddings, home loans, general purpose loans, car loans, holiday loans, the credit units created for emergency situations are now being implemented. The banks, which give loans to those in difficult situations, are increasing day by day and loan rates have started to change. You should also engage in extensive research into credit rates.

Banks can lend to anyone who has a proper credit record and follows their payments regularly. If you are an individual over the age of 18 and have already worked with banks, you can apply to the banks you have worked for and receive instant loans.

As your credits will be approved immediately, your cash shortage will be solved in a short time. However, you should know that if your credit record is broken and your credit rating shows a downward trend, unfortunately, banks do not give credit immediately. How can a loan be in trouble?

Emergency Money on Credit to Those in Distress

Emergency Money on Credit to Those in Distress

You can deal with your urgent needs for money by legal means. Evaluating your own situation; banks help you if you decide that you need to withdraw credit. The wide range of loans of the banks is active every term. The most active lending banks are; usually going to private banks. In banks that will not meet your money demand with a negative result, you can get your money without waiting. What should be done about this is; how much money you need, and under which credit grade you need to demand that money.

Banks that provide easy loans to those in distress, execution, and people in need of urgent money are listed below. In the following sections, we will examine these banks in detail and provide information about interest rates.

Bank Loan for Persons in Distress

Bank institutions always offer emergency support and difficult loans to their customers. Banks that plan in advance in which case their customers will request the loan; It develops projects on the loan amounts you may need and creates payment strategies that can be suitable for every budget. Thus, by going to the bank to specify your difficult situation, you can get this loan will meet your needs. Afterward, you are creating payment types that are suitable for your business and income level.

Difficult situation loans have now become one of the most frequently used loans for people who are in debt or seek money quickly. You’re not expected to tire yourself out of a difficult situation loan. Since all of your paperwork is provided over the internet, you only apply by phone or internet.

If you wish, you can also apply for difficult situation loans from the branch. However, there is a need to know about this issue. It is not only the private banks that give out difficult loans. Like private banks, state banks can extend credit to customers in difficult situations. The interest rates of the state-owned banks that open loans also vary from the interest rates of private banks.

You may be tired of opening difficult amounts of credit during your loan approval period. For this reason, if you prefer the banks whose credits are approved quickly, you can get the same amount of money from the bank in cash or transfer it to your account within the same minute when you approve your own credit. For some customers, some banks can also activate the quick loan option. You can apply for a loan application that suits your needs and which you think will be enough to eliminate your difficult situation with your phone or customer number without going to any bank branch.

So without spending time; You can also see if your credit has been approved. You can get the confirmation message of your credit without stopping at any branch. Following the credit approval, you go to the branch and make transactions regarding your money. You can use these credits, which are created for the difficult situations that are created for you to use, as your heart is comfortable, and you can use them as your heart.

Execution foreclosures can get credit?

The banks they have applied for can decide the situation related to the difficult situation loans of the bank customers who have not taken credit before but could not pay or have been exercised due to the credit card used before. If you have become a lawyer or a lawyer due to a credit card or your credit installments that you have not paid in the past, you should ask your own bank if you may be given a difficult situation loan.

Then apply to other private and state banks. Each bank has its own initiative, which can be shaped by the amount of credit you want. Due to the delay of payments, the lawyer and then the execution of the bank customers who fell, if they closed their debts and over the time each bank has set its own waiting period; they can easily claim a difficult situation loan.

Need for Emergency Credit

Need for Emergency Credit

What you need to do in an emergency and fast loans; rather than go to the branch and wait; customer number and the customer’s bank on the web page to make your loan request. Make sure that this application makes it easy for you to get back to you very quickly.

The difficult situation you demand from the interactive environment is to apply only with the correct information to get your credit. You do not need to wait in long queues to collect loans, you do not need to collect income declarations, title deeds, business declaration or other documents touring. Trust through interactive channels and wait for your credit approval.

Can I get a guarantor loan?

Each bank has lending content for its customers. There may be situations where some banks ask their customers to vouch for loans. However, it operates in banks where every middle-income person can get loans without guarantor. It is also possible for each customer to find a difficult situation loan in these banks.

Loan Interest Rates

Interest is the most important consideration in payment plans for loans, which are the saviors of difficult times. While the interest rates of all banks vary, it is much better for you to accept the payment terms that are appropriate for your payment process. Many banks offer different loan options for their customers. If you want to have the privilege and a plan that is appropriate for your own payment requests, banks that provide emergency loans can solve this issue.

In addition, according to the new system implemented by almost all banks, individuals may be subject to different interest rates. For example; If your credit rating is high, you can get lower interest rates from other people. In other words, while other people have high credit payments, you can apply for more appropriate loans thanks to your credit rating.