More travelers are planning adventurous experiences this winter, with interest increasing more than 150% compared to last year, according to customer data from travel insurance comparison site, Squaremouth.
With more travelers taking to the slopes, Squaremouth reveals 4 travel insurance tips that even the most daring adventure-seekers should know before participating in activities this winter.
1. Don’t Pay More for Popular Winter Sports
Common winter sports like skiing and snowboarding can be covered under a standard travel insurance policy, and don’t require expensive upgrades. Even extreme activities, like heli-skiing or ice climbing, can be covered by policies specifically designed to cover those more dangerous activities.
Tip: Many travel insurance policies don’t explicitly list all the activities they cover. Call your travel insurance provider, or use this activity selection matrix, to ensure your sports are covered.
2. Expensive Equipment Rentals and Lift Tickets Can Be Reimbursed
Travelers can be reimbursed for all of their prepaid costs, including equipment rentals, lift tickets or lessons, if they have to cancel or interrupt their trip for a reason covered by the policy.
Tip: Remember to insure one-off costs like rentals or lessons. If you are prevented from traveling because of an illness, injury, or unexpected winter storm, you may be reimbursed for these often expensive arrangements.
3. Costly Medical Evacuation Can Be Covered
With the majority of travelers staying stateside for their winter trips this year, medical evacuation coverage can be a key benefit, as most U.S. health insurance companies do not cover evacuation services. This benefit can coordinate and cover evacuation if a traveler is injured while skiing or snowboarding in the mountains, where medical care isn’t easily accessible.
Tip: Consider a medical-only policy. Domestic travelers can typically spend less on a travel insurance policy, than on their primary medical deductible, especially if an evacuation is required.
4. Protection for Personal Sports Equipment
Some travel insurance policies provide reimbursement if a traveler’s sports equipment is lost or damaged during their trip. This benefit can also reimburse travelers if they incur additional expenses renting new equipment on their trip.
Fannie Mae Executes First Two Credit Insurance Risk Transfer Transactions of 2020 on $31 Billion of Single-Family Loans
WASHINGTON, March 4, 2020 /PRNewswire/ — Fannie Mae (OTCQB: FNMA) announced today that it has completed its first two Credit Insurance Risk Transfer™ (CIRT™) transactions of 2020. CIRT 2020-1 and CIRT 2020-2 together cover $30.7 billion in unpaid principal balance of 21-year to 30-year original term fixed rate loans, previously acquired from July 2019 through October 2019. Combined, these two deals transferred nearly $1 billion of mortgage credit risk, as part of Fannie Mae’s ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market. To date, Fannie Mae has committed to acquire approximately $11.6 billion of insurance coverage on $435.2 billion of single-family loans through the CIRT program, measured at the time of issuance, for both post-acquisition (bulk) and front-end transactions.
“Over the past six years we have built a market for credit risk that, with each new transaction, continues to draw on the growing interest of insurers and reinsurers. We appreciate our partnership with the twenty-three insurers and reinsurers that wrote coverage for these deals, a new record-high level of participation for a single CIRT transaction,” said Rob Schaefer, Vice President for Credit Enhancement Strategy & Management at Fannie Mae.
With CIRT 2020-1, which became effective January 1, 2020, Fannie Mae will retain risk for the first 35 basis points of loss on an $18.5 billion pool of single-family loans with loan-to-value ratios greater than 60 percent and less than or equal to 80 percent. If the $64.6 million retention layer is exhausted, twenty-three insurers and reinsurers will cover the next 300 basis points of loss on the pool, up to a maximum coverage of approximately $553.6 million. With CIRT 2020-2, which also became effective January 1, 2020, Fannie Mae will retain risk for the first 40 basis points of loss on a $12.2 billion pool of single-family loans with loan-to-value ratios greater than 80 percent and less than or equal to 97 percent. If the $48.8 million retention layer is exhausted, seventeen insurers and reinsurers will cover the next 350 basis points of loss on the pool, up to a maximum coverage of approximately $427.2 million.
Coverage for these deals is provided based upon actual losses for a term of 12.5 years. Depending on the paydown of the insured pool and the principal amount of insured loans that become seriously delinquent, the aggregate coverage amount may be reduced at the one-year anniversary and each month thereafter. The coverage on each deal may be canceled by Fannie Mae at any time on or after the five-year anniversary of the effective date by paying a cancellation fee.
As of December 31, 2019, $1.3 trillion in outstanding unpaid principal balance of loans in our single-family conventional guaranty book of business were included in a reference pool for a credit risk transfer transaction. Depending on market conditions and other factors, Fannie Mae expects to continue its credit risk transfer efforts, including CIRT, Connecticut Avenue Securities™ (CAS), and other forms of risk transfer that allow private capital to gain exposure to the U.S. housing market.
To promote transparency and to help insurers and reinsurers evaluate our program, Fannie Mae provides ongoing, robust disclosure data, as well as access to news, resources, and analytics through its credit risk transfer webpages. This includes Fannie Mae’s innovative Data Dynamics® tool that enables market participants to interact with and analyze both CIRT deals that are currently outstanding in the market and Fannie Mae’s historical loan dataset. For more information on individual CIRT transactions, including pricing and calendar, please visit our Credit Insurance Risk Transfer website.
About Fannie Mae
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit: fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog
Fannie Mae Newsroom
Photo of Fannie Mae
Statements in this release about future credit risk transfer efforts and the impact of credit risk transfer transactions are forward-looking. Actual developments may differ materially from these statements as a result of market conditions or other factors, including those listed in “Risk Factors” or “Forward-Looking Statements” in the company’s annual report on Form 10-K for the year ended December 31, 2019.
SOURCE Fannie Mae
Top 5 Tips to Get Affordable Auto Insurance in 2020
Saving money on car insurance should be a top priority for any driver. There are many methods that can help drivers lower the costs of car insurance. The most common methods that are proven to help drivers save money on car insurance are the following:
1. Choose a safe car
The safety of a vehicle can influence the insurance costs. Insurance companies use different statistics and data to determine how safe is a vehicle. Drivers who own vehicles that are more likely to be involved in crashes or are more likely to be stolen will have to pay more on car insurance premiums. Drivers can improve the safety of their vehicles by installing approved aftermarket safety devices.
2. Maintain a clean driving record
Drivers who manage to stay away from traffic violations will keep the insurance costs under control. Also, drivers who manage to keep their driving records clean for several years will be able to access several discounts.
3. Join a defensive driving course
Defensive driving courses can help policyholders become better drivers by improving and learning new driving skills that can help them avoid car accidents. Also, graduating an approved defensive driving course can help drivers save money on insurance. Car insurance companies are usually offering a discount that is between 5% to 10% to those drivers who manage to graduate.
4. Pay the whole policy at once
Insurers will charge a monthly fee for processing multiple payments and updating the account of a driver who pays monthly insurance rates. Drivers who pay the premiums in one lump sum will eliminate those payment processing needs. By doing so, drivers will save money on car insurance.
5. Shop around
The best method used by drivers to pay lower car insurance rates is to shop around and look for better insurance deals. Getting online car insurance quotes every six months is important for drivers who want to check if they are still paying competitive insurance rates.
For additional info, money-saving tips and free car insurance quotes, visit https://compare-autoinsurance.org/
“Everyone wants to obtain the car insurance they need at affordable prices. Luckily, there are many clever methods that can help drivers to obtain better insurance deals”, said Russell Rabichev, Marketing Director of Internet Marketing Company.
How to Buy a Car With Low Insurance
If you’re car shopping, you need to factor in auto insurance.
Before buying a car, always call your insurance company for a quote. You don’t want to get stuck with an insurance bill as high as your car payment.
If you’re a money-saver, you may be wondering how to pick a car with a low insurance quote.
A lot of factors affect your insurance premium:
• Accident history
• Credit score
• Where you live
• Who’s on your policy
This post will look at one factor in particular: the kind of car you’re buying.
If you’re trying to pick out a car with cheap insurance, you’re looking for three things. You want to buy a safe, inexpensive, and old car.
1. Buy a safe car
The chief concern of insurance is managing risk.
What are the odds a driver will be in an accident? Do they have a history of accidents and traffic violations?
They analyze the driver. They also analyze the car.
Insurance companies collect data on makes and models. Do certain cars have bad track records?
Let’s say a particular sports car is in a lot of high-speed crashes per year. Insurance companies note this and they raise insurance costs on that specific make and model.
Let’s say a 4-door car with safety features is in significantly fewer accidents a year. The insurance company will see that as a safer vehicle and lower the insurance costs.
Airbags and seatbelts are givens. But here are other common safety features:
• Shatter-resistant glass.
• Anti-lock braking systems.
• Four-wheel steering for better control.
• Good bumpers to protect the body from minor bumps.
• Mirrors to see blind spots.
• Excellent headlights for driving at night or in the rain.
Also, 4-door vehicles typically have lower insurance rates than 2-door vehicles.
2. Buy an inexpensive car
The more a car costs, the higher the insurance costs.
For one, expensive cars are statistically more likely to be stolen.
Another factor insurance companies consider when insuring your car is the repair cost. If the car is damaged, how much would it cost to replace the parts?
If the car parts are expensive then the vehicle will have a higher premium. If it’s cheap to repair the car then the vehicle will have a lower premium.
In some cases, you don’t even have to guess which car will cost more to repair. Let’s say there’s a Honda Civic on your left and a Mercedes-Benz on your right.
Which do you think costs more to insure?
However, it’s not always obvious which car costs more to repair. There are cars that are cheap, but their parts are expensive to get.
For example, some foreign cars need parts from far away countries. That might raise the repair costs. In turn, that jacks up the insurance premium.
Always call your insurance company before purchasing a vehicle to get an insurance quote.
But generally speaking, you want to look at less expensive cars. They normally have lower insurance rates.
3. Buy an older car
Older cars usually have lower insurance rates than newer cars.
There are exceptions. If it’s a classic car or rare model, it may be more expensive than a new make and model.
There are a few reasons why older cars are cheaper to insure.
As mentioned in the previous section, car price matters. Newer cars cost more and have a higher market value.
That means it’ll be expensive to repair them if they’re damaged.
Newer cars also tend to have more add-ons:
• Built-in computer screens
• Roadside assistance
The more bells and whistles a car has, the more the insurance company needs to cover.
Also, older cars have been around for a while. Therefore insurance companies have more data on these makes and models.
Let’s say an older model has a below-average accident rate. The insurance knows this from years of collecting data.
So the company gives the model a lower premium.
When a new model hits the market, an insurance company isn’t sure how safe it is. It may perform poorly in years to come.
The uncertainty may force the company to aim higher on premiums.
Always get an insurance quote
Those are the three things to keep in mind when shopping for a car with cheap insurance. You’re looking for a safe, inexpensive, and older car.
Keep in mind that there are exceptions to the rules. Don’t skip the step of calling your insurance company and asking for a quote.
But these three factors are a good place to start. Keep them in mind to narrow your search for a car.
They’ll give you a general direction when choosing a car. And they’ll save you money in the future.
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