Do Car Insurance Companies Take Advantage of Good Drivers?

The subject of car insurance companies and the payment of premiums continue to draw out debates on how companies benefit at the expense of their clients. Have you asked yourself this question; what happens when you buy car insurance coverage and you don't cause an accident in the entire lifetime? The answer to this question is as perturbing as to the lack of knowledge as to when you will cause or be involved in an accident.

A client remains in suspense of knowing when an accident will strike next. Although it is not within the desire of motorists to be involved in accidents, it is sometimes a bother to the insured when they pay insurance coverage only to remain uncompensated for injuries or damage to a vehicle due to good driving ethics.

Whether it's a good luck or simply an act of observing good driving ethics, the implication is that car insurance companies benefit at the expense of the insured when they do not cause accidents. Often the insurance companies have used the driving history as one of the main determinants of the insurance premium rates determinants.

Bad driving ethics characterized by subsequent accidents usually hike the premium rates and the insured bears the burden of bad driving practices. But then, what happens when an insured does not cause or is not involved in any way in accidents that warrant compensations?

As an appreciation of good driving ethics, insurance companies impose reduced rate of premiums to the insurance buyers. However, the company keeps attached to the assumption that the driver will at one time be involved in an accident thus has to keep on remitting their premiums. Nonetheless, the drivers keep on observing good driving behaviors and do not cause accidents that warrant compensations to be made. In this case the car insurance company benefits from these remittances and in fact there are no refunds that are made.

Insurance companies operate on a notion that, even if an insurance buyer is not compensated for any injuries or car damages, others are paid for the same. The success of the insurance company is based on the fact that only few drivers will cause accidents and claim for compensations. This is where the whole issue of car insurance payment becomes complex and often regarded as unfavorable for the drivers who observe an accident-free driving.

In fact some drivers have attempted to cause accidents so as to place a claim for compensation because they perceive that their good ethical driving practices as a benefit to the insurance company. Whether this is a justifiable act or not, the issue is that insurance companies should consider revising the way good drivers are rewarded for their good performance.

It is worthwhile mentioning that, car insurance companies and governments should get back to the drawing board and bring out a concise and clear answer to this heated debate. To grab the bull by its horns, insurance buyers feel betrayed by the insurance companies especially when they do not indulge in accidents that prompt the companies to reimburse compensations. The government must analyze this aspect and bring out a more customer oriented car insurance policy.

Auto insurance buyers who in most of their life time do not assume compensations of any nature during their driving history are dissatisfied by the way insurance companies use their premium contributions for their sole benefits. Aptly, there is a burning issue that needs to be resolved and this is; should insurance buyers receive a considerable amount of refund if they do not cause accidents or are not in any way compensated for personal body injuries or car damages within their driving experience?

Little Known Bitcoins Gain Value by Over A Million Times ...Peaked At $1,250 in November 2013

Since its introduction in the market in 2009, bitcoin has risen in value by over a million times. Crypto currencies are little known by many people and recently one of these types of virtual currencies has hit the virtual financial market in a storm. Introduced in 2009, Bitcoins have grown in leaps and bounds, and today the crypto-currency is trading way above $1000 dollars mark. 
 
A few years, if you were to buy a bit coin, you would get close to 1,000 bitcoins in every $1 US dollar. Today, a couple of years down the line, things have turned upside down and buying a single bitcoin will cost you more than $1000 dollars. The shift to using crypto currencies is creating a strong market for these kinds of virtual currencies.

The rise of Bitcoin has marked the widespread use and application of virtual currencies in the real financial market. Bitcoins are competing with government issued fiat currencies as merchants begin to accept this virtual currency. There is an historic change taking a toll in financial markets and whether consumers like it or not, virtual currencies may influence the way, online trading is done.

And, as the head of currency research Bank of America Merrill Lynch  said, bitcoins, the unregulated virtual currency might emerge as a serious competitor to the fiat or traditional money transfer providers.

Technology is behind the development of virtual currencies and one remarkable example is that of bitcoins. Bitcoins are today being used in trading foreign exchange and buying products online, and the popularity of this crypto currency is picking up so quickly yet strongly. More and more businesses and individuals are now becoming aware of the benefits of using the crypto currency over traditional currencies.

Although the value of bitcoins is constantly changing, it is heading on the higher scale, and as of November 2013, the virtual currency traded at close to $1300. This is an amazing growth considering that in just a few years, about $1000 bitcoins where trading for $1. There are more than $1.5 billion worth of the bitcoins in the market. Millions of transactions occur daily and there is no fixed price for the virtual currency. It depends on the rate at which the currency is trading in the market.

One difference between bitcoins and the traditional currencies is that this virtual currency is not printed by any centralized bank and no government or bank sets its value. The value of bitcoin fluctuates based on supply and demand. To get started using this type of virtual currency, you need to get a Bitcoin wallet. This is the first step in using the bitcoins.

There are different applications through which you can create your bitcoin wallet. A bitcoin wallet is like an app, which you can download and install in your computer or phone using a software wallet on the internet. Bitcoins can be obtained in different ways such as selling goods and accepting payment in form of bitcoins. More merchants are now doing this as they begin to realize the value and benefit of bitcoins.

You can also purchase and sell the bitcoins through virtual currency exchanges or Bitcoins exchanges. This is the common method used by people to obtain bitcoins. You have to be very careful when you trade online with bitcoins, as the frauds are ripe. You can also trade bitcoins with traditional currencies like US dollars.