Health Insurance – Is Some Better Than None?
About 50 years ago, health insurance started to be an attractive incentive offered by employers to attract and keep good employees. Overall, group plans tended to be inexpensive for employers, with employees contributing a small amount of money or none at all to secure health insurance for themselves and their families.
It was more expensive for individuals to pay for non-group policies, but coverage was fairly affordable. Then medical costs started to rise, people started to live longer and the medical profession became adept at curing various diseases and saving and prolonging the lives of people with serious injuries and life-threatening illnesses. Health care and insurance prices started rising much more quickly than annual incomes and premiums began taxing both employers, who were paying the lion?s share of premiums, and for employees, to whom businesses often passed on costs through larger deductibles, greater out of pocket expenses and higher premiums.
According to a recent report by the MSNBC News Service, 41 percent of Americans whose income ranges from moderate to middle had no health insurance for at least part of 2005. In 2001, that number was much lower?28 percent. Additionally, more than 50 percent of uninsured Americans in 2005 found it difficult to pay their medical bills. Another alarming statistic?28 percent of Americans in 2005 had no health insurance, while 24 percent had none in 2001.
So, what should a person do if they don?t have any health insurance or if they have a choice between a cheap discount plan that does not cover core expenses and an affordable plan that may cost a bit more but also provides much better coverage? According to data from the U.S. Centers for Disease Control and Prevention, the majority of people who are not covered for important screening tests, such as a mammogram, colon cancer screening or a PSA test, will not undergo those exams. Also, close to 60 percent of people without health insurance missed treatment or did not buy medicine needed for a chronic condition.
All of these figures point to one thing?people who lack health coverage for essential services are often unable to pay for those services, putting them at greater risk for developing new or exacerbating existent health conditions.
What should you look for in a health insurance plan, especially when cost is an issue? It?s important that you get the best coverage you can afford. Skimping on premiums can save you money upfront, but the result can prove to be penny-wise and pound-foolish. Sometimes people can?t afford coverage and sometimes they believe because they are healthy that they simply don?t need it. However, healthy people get ill or are involved in serious accidents all the time. You never know when you?ll need coverage.
Some people opt for ?catastrophic? insurance, which usually covers only major medical and hospital expenses above a specific deductible. Under such a plan, the insured pays for routine doctor visits and prescription drugs. With this type of plan, you?ll pay a low monthly premium but will also have a high deductible and limited coverage. Deductibles start at %500 per year but can be considerably more. If you purchase an inexpensive policy with a %10,000 deductible and you undergo surgery that costs %8,000, you must pay that %8,000. If your surgery costs %12,000, you would owe %10,000.
One insurance company offers a plan that costs %29 per month for a 21 year-old, non-smoking female. There?s a yearly %250 deductible and %2,500 in out of pocket expenses that the insured must pay before the policy kicks in. Hospital, surgical and x-ray expenses are covered but other costs, such as doctor visits, prescription drugs, maternity care and mental healthcare are not included. There?s a lifetime maximum of %1 million.
It?s certainly a bargain, if you don?t plan on going to the doctor very often. To enroll in a plan that will cover doctor visits, prescriptions, maternity expenses and more could easily cost %400 per month?a jump of %371 every 30 days for a total cost of %4,800 per year!
Group health insurance plans, which you can usually enroll in through your employer, union or guild, are the best buy. Individual plans, especially those that offer comprehensive coverage, can be crippling to many people?s pocketbooks. When buying health insurance, it?s important to shop around. Your choice of what type of plan you purchase will be determined by what you can afford and what you need as far as insurance is concerned. There?s no right or wrong choice when it comes to health insurance but at the very least you should have catastrophic insurance.
There are basically three types of plans?Fee-For-Service, Health Maintenance Organizations (HMO) and Preferred Provider Organizations (PPO). Fee-For-Service plans offer the most choice regarding doctors and hospitals but they often involve quite a bit of paperwork and are the most expensive. If you?re willing to give up some or a lot of choice, do less paperwork and save some money on premiums then either a HMO or a PPO is for you.
A HMO offers the least amount of choice, involves co-pays, has the least amount of paperwork and is the cheapest of the three types of insurance. A PPO combines some elements of Fee-For-Service and a HMO. You?ll have more choice than you would with a HMO but less than you would with a Fee-For-Service plan. It tends to be more expensive than a HMO but less expensive than Fee-For-Service. All three types of insurance have some aspect of Managed Care?which determines how much health care you can use?attached to them, with Fee-For-Service having the fewest restrictions and a HMO being restricted the most.
When shopping for health insurance ask the following questions?
* How much is the premium?
* What services are covered?
* What are the total deductible and out of pocket expenses per year?
* How much are the co-pays?
* What is the maximum lifetime benefit?
* How much freedom will you have when choosing doctors and hospitals?
* What are the pre-approval procedures for seeing specialists, undergoing a procedure or being given a test?
* What prescription drugs are covered and to what degree?
* Is mental health covered and to what degree?
* Is dental covered and to what degree?
As you begin to narrow down your choices, you can look more closely at specific plans that seem to fit your needs and determine which offer you the best value for your dollar?
America has one of the finest healthcare systems in the world and one of the most complex health insurance systems across the globe. Often, they seem to be at odds with one another, unable to communicate and work together. That can be one of the most frustrating parts of anyone?s foray into the world of healthcare professionals, hospitals and health insurance companies. For this reason alone, it?s important that you carefully and thoughtfully choose your healthcare benefits provider.
Which Car Insurance Rate is the Cheapest ?
You’ll want be surprised at how varied the rates for pickup insurance can be in your area. Totally shop around for your automobile insurance. Dont just go with the first agency you speak with.
Now, thanks to the net, you can shop around suitable from the comfort of habitat. Go ahead and get at least three price quotes from distinctive kinds of insurance corporations.
If youre in the audience for a novel car, call to see how much it will cost to ensure in the first place. Having a car alarm and other anti-theft devices can chip in reduce your costs.
Always apply about discounts. Dont be shy. Corporations anticipate this!
Whats my cost if I have a %500 deductible? (Enhancing your deductible from %200 to %500 could lower your collision and in-depth coverage cost by as much as 30 percent.)
How about a %1,000 deductible? Running to a %1,000 deductible can save you 40 percent or more. (Now if you dont keep at least this much in the bank, dont alternative out this option!)
If your car is worth less than 10 times the annual insurance premium, purchasing extra coverage may not be affordable. Whichs one distinguished gizmo about owning an aged car!
My credit rating is astounding. I always pay my bills on time.
What if we insure more than 1 car with your corporation?
I havent had an accident in more than three yearsK
I havent had a traffic ticket in three yearsK
Ive taken a drivers training course.
My car has an anti-theft mechanism.
I dont put a mass of mileage on my car in a years time.
I carpool.
My car has air bags.
My car is quipped with anti-lock brakes.
I have daytime going lights.
Im a student driver with top-grade grades.
Since I have both car and home coverage with you, do I qualify for a discount?
Im a schoolhouse student away from homeK
Ive been a long time regular purchaserK
My mom and dad use your companyK
Do you present any other discounts? Some companies offer reduced rates to drivers who get insurance through a group plan from their employers and other expert groups. It cant hurt to ask.
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Florida Health Insurance: Take Advantage of the Internet?s Price Transparency
Florida health insurance companies are now feeling the effects of the increased price transparency that the Internet brings. Now longer is it a process of days or even weeks to obtain multiple health insurance quotes from top Florida health insurance companies. The simplest and most efficient way to obtain health insurance in Florida is simply to make the top health insurance companies in the state (Golden Rule/United Healthcare, Aetna, and Humana) compete for your business!
If you cringe at the thought of a United Healthcare agent, an Aetna agent, and a Humana agent all clustering around you amongst a swarm of other Florida health insurance agents and trying to push their company?s policy upon you then read on; for health insurance shopping on the Internet has simplified everything. There are numerous Florida health insurance websites that offer Florida health insurance quotes but there are quite a few very important distinctions between the different types.
There are two main types of websites that offer Florida health insurance quotes to Florida health insurance shoppers: Marketing Organizations and Insurance Agencies.
Marketing Organizations do not sell insurance, are not regulated by any insurance department, and generally have no knowledge whatsoever concerning Florida health insurance. However, they can offer consumers a somewhat appealing service. How can they assist in purchasing health insurance?
They act as a middleman between Florida health insurance shoppers and Florida health insurance agents. When Mrs. Smith in Tampa, FL requests a health insurance quote then the marketing company sells her information as a lead to 5 or more Florida insurance agents.
Ignoring the privacy issues and the issue of the qualifications of the health insurance agents that will be purchasing your information there is the larger and more practical issue of do you really want to have 5+ insurance agents aggressively seeking your business?
Imagine that each health insurance agent is taught in their sales training to call you at least 5 times and email you at least 3 times before ?giving up? on you as an insurance prospect: that means that you have received 25 phone calls and 15 emails from various insurance agents!
The second type of website that offers Florida health insurance quotes is the website that is run by an insurance agency (note that it is very important to find only an independent Florida insurance agency ? meaning an agency that is not tied to working with only one health insurance company but can show you health insurance quotes from all of the top Florida health insurance companies. This is also why we will ignore the quasi third group of websites that offer Florida health insurance quotes: the health insurance carrier websites themselves. These can be a good service but very time consuming. There is a better way to shop for Florida health insurance. Read on-).
Most independent insurance agency websites offer a feature that will allow you to request Florida health insurance quotes. However, there is a much better way to shop for Florida health insurance! Rather than waiting for your request for health insurance quotes to be filled; look for a website that offers instant and LIVE Florida health insurance quotes from top Florida health insurance companies.
With instant LIVE Florida health insurance quotes you have the best of both worlds: you receive the benefits of competitive pricing by viewing the top Florida health insurance companies quotes side by side (the strong point of the marketing organization website model) as well as personal, expert help (the strong point of the insurance agency website model). Not to mention the added benefit of viewing the health insurance quotes from the different health insurance companies in the same format ? enabling easy side by side comparisons of benefits. This allows for a true ?apples to apples? comparison.
View up to 20 LIVE Florida health insurance quotes from top Florida health insurance companies like Aetna, Humana and Golden Rule/United Healthcare all in less than 20 seconds! View LIVE Florida health insurance quotes now and take advantage of the Internet?s price transparency!
How To Insure Your Classic Car
If you own a classic car, you already know that they can be difficult to insure. You have things to consider that are unique to classic vehicles. Here are some things to consider when choosing an insurer for your classic vehicle.
How will you be using your antique or classic vehicle?
You should get coverage for how you use your vehicle. If you are not driving your vehicle daily, why pay for it. If your insurance company has experience with classic cars, they probably offer policies for vehicles that are only driven on weekends or are never driven at all. The more you drive it, the more the risk and the more you will pay. If you get a policy for a vehicle that is supposed to be garaged, you will not be covered if you choose to drive it. Make sure that you accurately state how you will using your vehicle so that you will be fully covered but not overcharged.
How much is your car worth?
Do not assume that your insurance company knows how much your car is worth. You might find that you value it much more than they do. Obtain a policy where the value of the vehicle is stated in writing. Get a written appraisal on your vehicle so there is no question on its value.
Does the insurance company have classic vehicle experience?
If possible, choose a company that has experience dealing with classic automobiles. Most insurers have no clue and will be unable to match you with the right policy. If you are a member of a car club, ask around for recommendations. If you cannot get a referral, interview your agent. Ask them what kind of policies they have for classic cars. If they try to fit you into a basic policy, find another agent.
Are there any restrictions?
Find out in advance if there are any restrictions on the use of the vehicle. You must know in advance if you are limited to a certain mileage or if you have to garage it at a certain location. Read your policy carefully.
Don’t just accept the first quote that you receive. Do your homework and you will find the auto insurance policy that is right for you and your car.
Different Types of Health Insurance in California
Whether you buy group or individual health insurance in California, the options you have regarding the different types of health insurance are generally the same. In some groups you can even choose from available plans. These different types are traditional health insurance, health maintenance organizations (HMOs), and preferred provider organizations (PPOs).
California goes beyond the Federal requirements for offering health insurance to its residents. Examples of this include Industry Advantage plans (IAHP), short-term health policies, Insurance for high risk Individuals and special plans for children and teens.
Additional Health Insurance in California
The traditional health care delivery system is based on a fee-for-service type of arrangement. In a fee-for-service system, you pay or each itemized medical service you receive. In the days of the frontier, “Doc” often received a chicken as payment. Today, physicians are paid with money, lots and lots of it. Fee-for-service health insurance recognizes this practice and is designed to reduce or even eliminate your duty to pay directly for your medical care. Traditional health insurance comes in three parts:
California has four basic options for choosing a health care plan:
Hospitalization
Hospitalization covers defined expenses incurred while in the hospital. Generally, the insurance will pay for all of the covered services rendered by the hospital staff. However, if the insurance benefit is an indemnity payment, the payment will be for a fixed sum regardless of the actual expenses incurred. This fixed sum will usually be far below the daily charge actually made by the hospital.
Medical/surgical
This part of a traditional health plan covers the expensive costs of medical care other than the bill from the hospital. Services such as doctor visits, treatment charges, etc., are covered here. Medical/surgical usually has a deductible and requires co-payments by the insured (payments you make for charges not covered by the insurance), typically 20 percent of the doctor’s fee.
Catastrophic or major medical
There are usually lifetime maximum payments that hospitalization and medical/surgical plans will pay, after which the well runs dry. Unfortunately, these maximums may not be sufficient to pay for all of the care required if a major illness or injury should strike, since such afflictions can eat up hundreds of thousands or even millions of dollars worth of health services. Thus, catastrophic coverage adds to your umbrella of protection in an amount sufficient to protect you from the horrendous expenses of such serious and prolonged illnesses. These policies also fill in some of the gaps not covered by hospitalization or medical/surgical.
Health Maintenance Organizations or Private Insurance in California
The health maintenance organization (HMO) is a relatively new player in the health insurance game, although it has been around in a limited fashion since the 1930s. The idea behind an HMO is to pay one premium and receive all of your health care at no or a nominal additional cost. The point is to save money compared to traditional health plans that cost more to purchase and require more out-of-pocket payments from the insured. What you, the insured, give in exchange for reduced cost is a substantial loss of your freedom to choose who will take care of your health needs.
Preferred Provider Organizations
Preferred provider organizations (PPOs) seek to give both the benefits of traditional health plans and the money savings of HMOs. They do this by paying higher benefits as a reward for your using the doctors or hospitals they preselect for that purpose.
Disability Insurance
Disability insurance does not pay for health care; rather it pays for lost wages caused by a disabling injury or illness.
How Health Insurance Is Priced
Ask anyone how health insurance is priced and you will get a simple answer: expensively! Beyond that, there are underwriting criteria used by health insurance providers, whether they are for-profit or, like Blue Shield/Blue Cross, nonprofit.
Underwriting Criteria
Age
The older you are, the more likely you are to get sick; therefore, the higher your health insurance premiums will be.
Number of people covered
Many people buy family coverage rather than individual policies. This means that there will be adults as well as minor children protected by the same plan. Some companies will charge based on the size of the family. Others charge a basic family rate without regard to the number of members.
Gender
Unlike life insurance, where women get the better end of the bargain than men, in health insurance women often pay higher premiums. This is based on health insurance industry statistics which indicate that the female of the species tends to need medical care more often than the male.
Health history
Insurance operates on statistical probabilities. If you have had a poor health history, statistically you are more likely to have a more expensive health care future. This, in turn, means that you will pay higher premiums-if you can get health insurance at all.
Occupation
The more likely you are to suffer injury or illness because of the work you do, the more likely the health insurance industry will be to charge excessively for benefits. This may be well and good for professional deep-sea divers. But the industry has begun to stretch the concept into areas that have nothing to do with the inherent danger of the work.
Lifestyle
In your application for health insurance you will be asked questions about your personal habits. Your answers will have a lot to do with the cost of your premiums. If you smoke, you will probably pay more for health insurance. If you drink to excess, you will probably pay more for health insurance. If you are known to be under a great deal of stress, you may pay more for health insurance. California does reward the health care Insurance consumer with lower premiums if they have practiced good health policies.
One of the most important things you can do as a health care consumer is to engage in preventive care. Not only will you be able to spot serious diseases at an early stage, thereby increasing your chances of effective treatment and cure, but you should be able to save money as well, since it is usually far less expensive to treat a disease when it’s a molehill rather than a mountain.
About The Author:
Medical-Ins.com is a leading broker of health insurance in California. We provide detailed information and cost breakdowns of Blue Cross, PacifiCare California and many more. Visit our site for a free quote and to help sort through the various health insurance plans to find the more affordable option for your family.
Determining how much Auto Insurance Coverage you Need
1: Other Party:
Auto Insurance Bodily Injury (BI) Liability and Property Damage (PD) coverage is Legally required in most states today. (BI & PD) Most people understand that they need BI and PD, but they have no idea how to determine how much coverage they need.
Try this simple question: What if your car was involved in an auto accident tonight where heaven forbid, someone else was injured or killed? Remember, everything you own is in the back seat of the car with you and is at risk in a lawsuit! So, what do you think their family would sue you for? %15,000? %25,000? %100,000 or even maybe a Million dollars! Where would you get the money to pay them?
Perhaps the Equity in your Home would help? How about your Savings and/or Investments? You could even have up to 25%PRCTG% of your wages attached to pay the award in most states! Are you prepared to sacrifice everything you own to pay an award due to this accident? If not, read on for how to choose the auto insurance coverage you need.
2: You and Your Family:
Now let?s turn the above accident around. For some unfortunate reason, you or a loved one is the one who is injured or killed in an auto accident. Where would you get the money if the person who hit you did not have auto insurance or not enough auto insurance? Medical bills can be covered if you have health insurance. But health insurance doesn?t cover loss of life, pain & suffering or permanent disability.
Maybe you have a life insurance policy through your employer or your own individual life policy. Is the benefit amount sufficient to cover your family if your loved one is killed? But even if you have life insurance, what pays for the misery, the pain and suffering, maybe the fact you or a loved one can?t walk or use their arms again?
You might have a disability insurance policy through your work if you?re lucky or had good financial advice. But disability insurance doesn?t pay for loss of life, pain & suffering, permanent loss of your legs, arm or hand.
The only coverage that pays for these things is a part of an auto insurance policy known as Un/Under-insured motorist coverage. You can only buy as much coverage here as you have in Liability coverage. Your auto insurance agent should be able to help you determine the exact amount you need.
3: Your Car
Comprehensive and Collision Coverage are the third part of an auto insurance policy and are sometimes referred to as ?Full coverage.? Basically the difference is this: If you run into the tree you are covered by Collision coverage. If the tree runs into you (hypothetically of course), then you are covered by comprehensive coverage. Comprehensive also covers broken windshields, fire, theft and vandalism. The higher deductible (risk) you take here, the lower the premium. Use the savings here to purchase higher limits in the coverages that protect your assets and your family.
The bottom line to determining proper auto insurance coverage is, of course, the money available in your household budget. An excellent place to start in determining the proper auto insurance coverage for your family is to meet with your local auto insurance agent.
Most cut-rate companies concern themselves with one thing only: Price. Tell them what coverage you have and they?ll see if they can give you the same coverage for less. You become the insurance professional. If this is the only need you have then that is ok. If not, you need to seek the advice of a professional to help you determine the proper amount of coverage you need and how best to accomplish it.
Review these tips for auto insurance coverage to make sure you have enough to protect your family.
Do You Need Health Or Travel Insurance?
Obtaining medical treatment and hospital care can be costly for travelers who are injured or who become seriously ill overseas. The Social Security Medicare/Medicaid program does not provide coverage for hospital or medical services outside the United States.
Before you leave the United States, you should be informed about which medical services your health insurance will cover abroad.
Senior citizens may wish to contact the American Association of Retired Persons for information about foreign medical care coverage with Medicare supplement plans.
If your health insurance policy does not provide coverage for hospital or medical costs abroad, you are urged to purchase a temporary health policy that does provide this type of coverage. There are short-term health and emergency assistance policies designed for travelers.
You can find the names of companies that provide such policies from your travel agent, your health insurance company, or from advertisements in travel publications. In addition to health insurance, many policies include trip cancellation, baggage loss, and travel accident insurance in the same package. Some traveler’s check companies have protection policies available with the purchase of traveler’s checks.
Medical Evacuation
Although some health insurance companies may pay “customary and reasonable” hospital costs abroad, very few will pay for medical evacuation back to the United States. Medical evacuation can easily cost %10,000 or more, depending on your location and medical condition.
One of the main advantages of health and emergency assistance policies is that they often include coverage for medical evacuation to the United States. Even if your regular health insurance covers you for emergencies abroad, you should consider purchasing supplemental insurance to cover medical evacuation.
Whichever health insurance coverage you choose for travel overseas, remember to carry with you both your health insurance policy identity card and claim forms.
Do You Need Travel Insurance?
You may not need travel insurance, if you are already adequately covered by other insurance policies.
Depending on the travel insurance plan, travel insurance usually promises to cover you for cancellation or interruption of your trip, some form of emergency medical care while you are traveling, lost or stolen luggage, and various other troublesome occurrences.
Before you decide on a travel insurance plan, it is wise to investigate the plan carefully and read the fine print. You should closely check any agreements with your travel agent, tour operator, airline, or other companies involved with your travel plans. The agreements may include written guarantees.
If you have a fully refundable airline ticket, you may decide that you would not need trip cancellation/interruption insurance.
On the other hand, it may be worthwhile noting that certain insurance plans can protect you by covering the financial costs in case of the following situations:
A sudden, serious injury or illness to you, a family member, or a traveling companion.
Financial default of the airline, cruise line or tour operator.
Natural disasters or strikes that impede travel services.
A terrorist incident in a foreign city within 10 days of your scheduled arrival in that particular city.
The fact that you, a traveling member of your family, or a traveling companion were quarantined served with a court order or required to serve on a jury.
A circumstance in which you were directly involved in an accident enroute to departure for your trip.
It is a good idea to check your other insurance policies. For instance, your homeowners or tenants insurance may cover the loss or theft of your luggage.
Certain credit cards may also provide additional travel insurance, if you have used them to purchase the ticket for your trip.
Your health insurance may provide certain coverage, regardless of where you travel. But it is very important to note that some policies only partially cover medical expenses abroad. Moreover, as previously explained in the section on Health Insurance, Medicare/Medicaid will not cover hospital and medical services outside the United States.
Your travel agent should be able to advise you about the right plan for you. Before purchasing travel insurance, review the plan carefully, and be wary of buying coverage that you may already have.
Your Auto Insurance Company For Extra Money?
Most people, once they have an auto insurance company, simply just let their current policy renew and renew without checking to see if maybe they can get a better deal somewhere else. If that describes you, maybe you would look into exploring your options if you knew how and painless it really is. This article will show you just how easy the process is.
Shopping for a new auto insurance company
The easiest and quickest and as a result the most painless way to shop for auto insurance is to go on the internet. Many companies can give you quotes 24/7 on their websites. You can also get contact information for a particular auto insurance company on their site and call them up on the telephone. When considering switching companies, the first thing to do is to get comparison rate quotes from several
companies.
You do want to be very truthful about all your information so that you can get accurate quotes. The company will find out about any accidents, claims or traffic tickets anyway, so don’t try to hide anything. Also, when you get comparison rate quotes, make sure you compare the coverage you have with your current auto insurance company to what is available with any new company so that you can make a comparison that makes sense.
How to switch
Once you have found a new auto insurance company and purchased your new policy you must cancel your old policy. If you don’t cancel your old policy the old auto insurance company could assume you wished to continue your insurance with them. They would be expecting to receive premiums from you. When they don’t receive those premiums they would eventually cancel your policy due to unpaid premiums and report your lack of coverage to the Department of Motor Vehicles of your state. This could affect your credit and your ability to get a new auto insurance policy.
Canceling your old policy is easy.
Usually, all you need to do is to inform your old auto insurance company in writing, telling them when you would like the policy cancelled. They will then send you a form to sign and return, which in effect will cancel your policy.
One thing to note
Do not cancel your policy from your old auto insurance company until the insurance is actually in effect with the new insurer. This way you avoid any lapse in coverage. However, nowadays there is little chance of that happening. Most states require all drivers to carry a minimum amount of
insurance and your old auto insurance company will probably require you to show proof of insurance before they will cancel an active policy.
When you switch is very important
The best time to switch to a new auto insurance company is when the current policy is about to expire. When you receive your policy renewal notice from your current auto insurance company is the best time to switch. This is usually about a month before the current policy is actually going to expire. It is during this period when you can switch insurers without incurring any fees or penalties.
Also, because it is so close to the end of the policy term you would avoid trying to figure out the amount of unused premium that you are due from your old auto insurance company. You also avoid arguing with your insurance agent about exactly when you cancelled and how much the auto
insurance company owes you.
But yes, you can cancel outside of the 30 day period
If after taking into account the fee or penalty you may have to pay you may find that you still would get appreciable savings. So, while it is best you switch within that 30 day renewal period, you can actually cancel at any time.
Are you ready?
That’s all there is to it. Just think of all that extra money that could be coming your way if you follow these simple guidelines.
Affordable Car Insurance ? What To Do To Keep The Rates Down
Automobile insurance is one of those things in the budget that is always going to be there. There are very few places in America that permit you to drive vehicles without insurance and so it behooves each and every one of us to get a better handle on our own auto insurance coverage. The industry is changing a bit because the competition is strong. There are new and creative auto policies on the market today. The trend that has gained the most momentum is the self-insuring concept. Higher deductibles is the weapon that the customer can use to lower rates significantly. Higher deductibles means that the policyholder has decided to take on more of the risk for the automobiles insured. The day of low collision deductibles is all but gone. Lower deductibles no longer warrant the high premiums. There is too much money to be saved with higher deductibles.
Lowering the Rates for Young Drivers
Young drivers on newer vehicles that have a lien holder?s interest will raise the auto rate significantly. The collision and comprehensive rates for drivers under 21 years of age are very high. A young driver on an older vehicle without the collision and comprehensive coverage will lower the rate significantly. There are discounts for young drivers who have completed a qualified drivers training course. Some companies have good student discounts on students with a grade point average of 3.0 or better. When the young driver reaches 21 the rates begin to drop for most companies.
Senior Citizen Discounts ? Most companies have discounts for people age 55 and older who are retired or work less than 20 hours a week. There are mature driving courses that can also give the senior citizen a discount.
Multi-Policy Discount ? This discount is available when you insure both your auto and home with the same insurance company.
Tort Options ? Some companies offer discounts for a limited tort option. Tort is your ability to sue for pain and suffering. Limited tort rates in some states reduce the overall premium of the policy up to 30%PRCTG%. Ask your insurance company about the tort options in your state.
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