Driving without car insurance? Soon, they’ll lock you up and throw away the key!

See, a couple months back a young married woman ran a red light (accidentally) and smashed into my car. Astonishingly enough, she had 2 weeping children by no driver’s license to her side. As she frantically scrambled for her phone to call her husband, he arrived shortly with the insurance information scribbled on a crumpled piece of scratch paper.

Being the nice guy I wrote down the information and then reluctantly reported the incident to my insurance company that I am.

My insurance agent rang back within a couple of hours, and guess what I hear next? The information that this nice woman that is young me was totally bogus! The woman who totaled my car was did not have car insurance. What!

I couldn’t believe this. I was had! All of us hard working, law abiding, car insurance paying citizens fork over hundreds of dollars a month in order to comply with our car that is mandatory insurance. It seems we cannot immediately see, touch, smell, or hear like we are paying the bills to push back our dismay at spending large sums on something. Soon enough everybody shall be forced to acquire car insurance.

California legislators are now debuting a plan that is three-phase on uninsured motorists. California legislators are creating this plan for people like you and me like me, for people that do pay insurance, for people that don’t make bogus claims, for people that are law abiding citizens. This plan will be enforced with the sole intent on making uninsured motorists pay the price that is ultimate.

Get ready uninsured motorists, here comes the bad news! As of 1st, insurance agencies are required to electronically submit evidence of financial responsibility to the DMV january. This means, if your car insurance faults at any time, the DMV will be notified immediately. What does this mean for uninsured motorists? The DMV will send you a nasty little note along with your registration renewal notice requesting that you submit proof of financial responsibility before they will ever renew your registration again. This is a must people. There is no getting around this one.

Alright people, let’s do the math that is simple. That you left your car insurance card in your house really going to fly with the authorities if you get pulled over on or after July 1 of this year, do you really think that the excuse? Come on. These are the kids that are fat high school who you used to pick on. It’s payback time in their eyes. As of right now, law enforcement has the same access to the current status of your insurance just like the DMV. Don’t fret, because I have good news for everybody. Read on.

The cut that is final will come on October 6th as when the California DMV will be required to suspend the registrations of uninsured motorists. Wait, what does that mean? That means there is no getting around it. It means there is no where to go. It’s your end that is dead buddy. Insurance is a must.

Now, I’m a nice guy. I’m a very understanding person. I’m willing to look at both relative sides of the fence here. Given, some people just outright choose to not have car insurance; however there are the few out there that simply cannot afford the car that is sky-high premiums that are simply out of budget and quite frankly out of reach for some motorists.

No worries, the continuing state of California has the bases covered for most. See, as of April 1, the California Low Cost Auto Insurance Program is being offered to drivers that are low-income Alameda, Fresno, Orange, Riverside, San Bernardino and San Diego Counties, previously only available in San Francisco and Los Angeles.

This cost that is low is available from any licensed insurance agent at a cost of just over $300 per year. Lower-income drivers who meet the qualifying guidelines will be able to protect themselves and their families while complying with the law. More information about the  program is available at the state department of insurance website.

If you drive into Los Angeles County today, look around you, because it is estimated that one out of four people on the road are driving without car insurance.

When the new laws kick in, sorry Charlie, but you must get car insurance, and you must get car insurance right now.

Read More

Everything You Need To Know About Choosing A Health Insurance Plan

The purpose of health insurance is to protect you from the alarming cost of medical care by providing you with insurance coverage for specified health and care that is medical. Generally, you will pay a monthly premium, a deductible, and co-payments for services you receive. The cost for insurance is significantly less than if you had to pay for medical care out of your pocket. There are three basic types of health insurance, fee for service, consumer-directed, and managed care. These basic types of insurance plans cover hospital, medical, and surgical expenses, and depending on the particular plan you choose, possibly prescription drugs, mental/behavioral care, and dental.

A fee for service plan means the  health care professional you choose will be paid a fee for each service provided to you. You can choose your doctor that is own and insurance claim can be filed by either the doctor or the patient. A care that is managed will provide coverage to their members and offers incentives for patients who choose doctors participating in the plan's network. The 3 types of managed care plans are HMOs, PPOs, and POS plans.

An HMO allows you to receive care that is medical a network of participating physicians. You will generally select a primary care doctor, who will then refer you to a specialist when necessary. A PPO combines various features of an HMO and a fee for service plan. Members can choose from network doctors and pay lower upfront expenses, or choose any doctor they desire and pay more out of pocket expenses. A consumer-directed health plan gives members more choices and options for making health care decisions. Consumer-directed plans include a ongoing health account or fund designated for health care expenses. At the end of each year, unused funds will roll over to the next year.

A health insurance premium is the fee paid to the insurer to purchase health coverage. Premiums can be paid monthly, quarterly, or annually. Deductibles are the amount you will pay for covered services within a time that is certain, according to the terms of your plan, before you will be entitled to insurance benefits. Members with a high deductible may have to pay the first one thousand dollars of yearly medical expenses before the insurance would begin to pay, and those with a higher or lower deductibles would pay more or less, depending on the particular amounts specified in their plan. A co-payment is a stated amount or percentage that must be paid by the member along with each doctor visit, medical procedure, or prescription. For example, if your specified co-payments are $25, you will pay the first $25 of each doctor visit and your insurance would cover additional charges. Most insurance plans specify a different co-payment amount for prescriptions, doctor visits, and hospital or care that is surgical.

In choosing which type of health insurance plan is right for you, you must consider the affordability of doctor visits and hospital care, the amount of the monthly premium, the amount of the deductibles, and the amount of the co-payments. Make sure the plan you chose offers coverage for services you will actually use such as doctors, prescriptions, laboratory costs, treatment for preexisting conditions, and care that is out-of-network. Check the rating of the insurance company in question, the number of patient complaints in the past year, doctor drop out rates if the insurance plan includes a network, and the number of members who have dropped out of the plan in the past year. Health insurance that is subsidized by your employer is generally the least expensive, but if your employer does not offer health insurance, you should consider an health insurance policy that is individual. The cost of medical care is far too expensive to risk not having health insurance.

Read More

Discount Plans versus Health Insurance

A woman from Las Vegas thought she was buying health insurance. It looked and sounded like health insurance. The Las Vegas woman is not 65 yet, which means she can't get Medicare. So, she went online looking for health insurance. She ended up finding something called Healthcare Advantage, and signed up after paying $100. Come to find out, this was not medical insurance at all and the sales representative never told this poor lady. She found that out when her cards arrived in the mail. In tiny writing at the bottom, it read, "not an HMO, PPO insurance or managed care company". This was a discount plan. These plans do not have the same coverage as a full health insurance policy that is medical. Make sure you know what you are getting and if it fits your needs.

So what is a discount plan? The plans claims to save people money by offering discounts on physician visits, prescription drugs, dental work, eye care and other treatments for a monthly fee. Unlike normal health insurance, which is very costly and very selective about who it covers, a discount health plan accepts everyone, no matter what health conditions they may have. You shall use a list of doctors that are willing to charge discounted rates to the subscriber. Discount is not the same as coverage, and so you will pay more for visits and other services that you wouldn't with a regular plan that is medical. The savings that are average only 25% that could be very expensive if you have to see a specialist or require surgery. These networks claim to have as many as 400,000 doctors and 50,000 hospitals available to choose from, but what if none of them are near you?  You can get a savings of up to 30% on both generic and brand name drugs, which can also be costly they are costly ones if you have multiple prescriptions or. So if you have a health plan already but have a high deductible, this extra plan may help save you some money. But to use as a complete health plan, it really isn't designed for that and will cost you more than a great HMO.

HMOs and other medical plans can offer full medical coverage at great rates. Managed care plans are the  way to go for those who are limited on funds. They offer the best policies for the amount that is least of money. Most of these plans are available to anyone and can save you a ton of cash. The plan can be made by you even more affordable by asking for a deductible, which will lower your monthly expense. Most HMO's do not have one at all but, you can request one, and most basic PPOs and POS only have a small one, usually $200 to $500 per year, which you can also asked to raised. The co-pays are also very reasonable with these types of plans. If you choose to purchase an HMO, expect to pay about $5-$10 per office visit and per prescription. With PPOs and POSs you shall have a 20% co-pay with both visits and medications. The differences are how strict they are and you pay more of a co-pay to have extra flexibility. Usually a PPO or POS plan is less expensive and you have more freedom to see whom you want so you are made by the insurer more responsible for payment. HMOs tend to be the least expensive and best policies for people with fixed incomes.

Make sure you know what your needs are and double-check what you are getting. Then a discount plan will not work for you if you need full medical coverage with low co-pay. Then you might benefit from the extra savings a discount plan can offer if you are already covered by a medical group but have a large deductible. Also, ask whether the plan is insurance that covers your treatment, or is a discount plan that still requires you to pay all bills that are medical. Beware of slippery sales pitches. Make sure you know what's being offered. Discount health plans may only sell you access to a large mailing list of medical providers that it purchased commercially. Don't assume you're getting access to a large provider network just because your discount card displays the network's name and logo. If you plan to use a specific listed doctor, hospital, pharmacy or other provider, ask a few questions before you sign up.

Read More

Everyone Wants Affordable Whole Life Insurance Quotes

The whole life insurance quotes you get are much better although term life insurance looks cheaper when you request free quotes. With whole life you are covered for as long as you live and keep paying the premiums. In whole life insurance quotes, the cost of the policy is stretched over a longer period of time, so you are actually paying less in monthly premiums.

If you want to have a period of time when you don’t have to pay any premiums, you can have the whole life insurance quotes calculate the premiums to a certain age. Most people like to have the premiums spread over a 30 life insurance because this is usually their working life year. Then they can enjoy retirement knowing that they do have life that is whole and don’t have to pay any more premiums.

Even though the lowest life insurance rates are for term life insurance, if you get whole life insurance quotes at an early age, the cost will be very similar. There are added benefits to getting whole life as opposed to term life. Once you have the whole life insurance policy in place, it won’t run out at the end of the term leaving you without life insurance.

Even you can choose a lower death benefit and upgrade when you can afford it if you can’t afford a high payout with whole life insurance quotes. This gives you the best life insurance for your whole life at the lowest life insurance rates. You should buy what you can afford. The difference between a policy that pays out $100,000 and another that pays $125,000 is very little when it comes to the monthly premium. When you are comparing the quotes choose the highest possible payout for the lowest rates.

You’ll never know how life that is much you can afford if you don’t look around. With the online life that is whole quotes available, life insurance protection for your family is only a click away. You are never under any obligation to buy. You only need to contact an agent when you find the lowest life insurance rates that suit you.


Whole life insurance quotes often return lower premiums.

Read More

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 choose from available even plans. These types that are different 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 options that are basic choosing a health care plan:

1. 1. Health through an employer or association
2. 2. Health Insurance through Income eligibility such as Medicaid
3. 3. Health care for high risk individuals such as those that have had cancer or a heart attack
4. 4. Private Insurance

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 expenses that are actual. This fixed sum will usually be far below the daily charge actually made by the hospital. Medical/surgical This part of a health that is traditional 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 payments that are maximum 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 with us 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 loss that is substantial of 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 illness or injury. How Health Insurance Is Priced Ask anyone how health insurance is priced and you will get a answer that is simple 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 plan that is same. 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. You are more likely to have a more expensive health care future if you have had a poor health history, statistically. This, in turn, means you can get health insurance at all that you will pay higher premiums-if. 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 divers that are deep-sea. But the industry has begun to stretch the concept into areas that have nothing to do with the danger that is inherent of work. Lifestyle In your application for health insurance you will be asked questions about your habits that are personal. Your answers will have a lot to do with the cost of your premiums. You will probably pay more for health insurance if you smoke. You will probably pay more for health insurance if you drink to excess. If you are known to be under a great deal of stress, you may spend more for health insurance. California does reward the health care Insurance consumer with lower premiums if they have practiced health that is good. 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 stage that is early thereby increasing your chances of effective treatment and cure, but you will 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 broker that is leading of insurance in California. We provide detailed cost and information breakdowns of Blue Cross, PacifiCare California and many more. Visit our site for a free quote and to help sort through thé various health insurance plans to find the more affordable option for your family.

Read More

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 want to contact the American Association of Retired Persons for information about foreign care that is medical 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 true 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 package that is same. Some traveler's check companies have protection policies available with the purchase of traveler's checks.

Medical Evacuation

Although some ongoing 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 claim and card forms.

Do You Need Travel Insurance?

You might 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 care that is medical 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 tour or line 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 necessary 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 idea that is good check your other insurance policies. For instance, your homeowners or tenants insurance may cover the theft or loss of your luggage.

Certain credit cards may also create 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 see that some policies only partially protect 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, carefully review the plan, and be wary of buying coverage that you may already have.

Read More

Discount Life Insurance

Life insurance is a type of insurance policy that provides security that is financial peace of mind for you, your family and dependants. It is based on the simple principle that should you die during the term of the life insurance policy, the person(s) named in the insurance policy will receive a lump sum or series of payments for the insured amount. If you have a mortgage and/or are the main income producer in the family, a life insurance policy will ensure your family's future is secure as the payment can be configured to pay off all outstanding debts and provide an amazing income for those that you leave behind.

Buying life insurance

When buying life insurance it is advisable to shop around for the best discount. Life insurance premiums can vary significantly between life insurance providers, while some providers will also offer discount life insurance, guaranteeing their premiums to be the lowest available on a basis that is like-for-like. If you want the best discount on your life insurance policy you'll need to look out for special discount offers run by the insurance providers. This may take some time however, and you're not guaranteed that the discount that is next that becomes available will be the right type of life insurance policy for your circumstances.

Alternatively, you should instead conduct your search for discount life insurance online.

Online = discount life insurance

Why is it important to look online for discount life insurance you may ask? Well, the  reasons are numerous! It's quick, it's easy and there is a huge amount of choice available on life insurance policies at the click of your mouse. Best of all though, life insurance policies found online are generally cheaper than those found offline. This is because there are fewer overheads involved in processing an online application form for life insurance than there is when a life insurance company processes a paper-based application. The costs incurred by the  life insurance company when they advertise on the Internet are also lower than say if they were to advertise on the TV, radio or via newspapers.

Additionally, portals and web sites that provide a comparison between different life insurance policies, some of which will be discount polices, are certainly worth a visit, especially if they provide access to online application forms. Why are they worth a visit? Well, not only will these portals offer you a selection of the lowest priced discount policies available, but you may also be able to pick up a discount that is further buying the life insurance policy through the portal.

Read More

How to Shop For Boat Insurance

If you have a boat, you need boat insurance!

Shopping for boat insurance is a bit different from shopping for car insurance, even though the concept is much the same. Boat insurance shall protect you against losses incurred while operating your boat, and while transporting your boat. Most boat insurance includes coverage for the boat, the motor, and the trailer.

When shopping for boat insurance, it is usually best to start with the insurance company that insures your cars and your home. Insurance companies usually give deep discounts to their customers that are current. Most insurance companies will also give deep discounts to people who have successfully completed a boating safety course.

Ask each insurance company that you contact about such discounts. In most cases, they won't tell you about the discounts unless you specifically ask.

Don't settle for the rate that your current insurance company quotes! Just get the quote, and tell them you will call them back soon. Using that quote as your base, you need to see if the insurance can be got by you cheaper elsewhere.

Using online resources is a great way to start. Get the quotes, and then contact the agents personally to see if you can work out a better deal. Believe it or not, insurance companies will compete with each other for your business. Don't be afraid to tell them the lowest quote that you have been given so far – make them work for your business!

Know what type of insurance you want and need before contacting any agents. Some agents will try to sell you too much insurance, causing your premiums to skyrocket, while others aren't as knowledgeable about the insurance needs of boat owners and won't sell you enough coverage!

You should be protected against losses caused by sinking, fire, storms, theft, capsizing, stranding, collision, and explosion. The policy should cover anchors, oars, trolling motors, fuel tanks, seat cushions, skis, tow ropes, dinghies, tools, canopies, life preservers, and any equipment that is permanently attached to your boat.

The different types of insurance that you need include Watercraft Liability, Watercraft medical payments, Newly acquired watercraft coverage, coverage for repairs, coverage fоr emergency services, and coverage for wreck removal. The liability coverage entails Watercraft Liability and Watercraft Medical Payments in most states.

Watercraft liability will protect you in the event of an accident that total results from the ownership, maintenance, or use of your boat. It should include bodily injury coverage, property damage coverage, and even legal defense coverage. It should also protect anyone who drives your boat, as long as they were legally allowed to drive the vessel.

Watercraft Medical payments coverage will pay medical expenses up to specific limits for you and the occupants of your boat in the even of an accident.

Other types of coverage are usually voluntary, but should be strongly considered. There is quite a bit that can happen when you transport or operate a water vessel, and protecting yourself legally should be a priority that is high!

Again, know what you want in terms of coverage before you talk to an agent, and make sure that you get the coverage that you need.

Compare rates online, and then contact the agents that offer you the lowest quotes. Attend a boating safety course, and make sure that you get that discount! Once you've found lower rates than the original quote that your current insurance company offered you, call them right back and let them realize that you found a lower rate. See they will offer to match that rate, just to keep your business if they can compete – in many cases! Again – make them work for your business!

CopyRight Ian D. Major 2005.

Read More

How you & Your Partner Should Save Money

Most newly-married couples are having a time that is hard to a different way of life, especially when it comes to financial matters.  As separate individuals, your spending habits will differ. This is why you both need to make adjustments that are certain combine the household budget.

Here are some ways on how you and your partner can make the aspect that is financial of marriage harmonious and organized:

Understand the real way that you both look at money.

If you and your spouse have different beliefs when it comes to money matters,  sit down and discuss it. The key here is to be able to compromise. For some social people, money is a security measure that needs to be saved. Other people spend it luxuriously and look at spending money as a means to reward themselves for their work. Still, other people are very thrifty that they hardly ever spend a cent of what they have earned.

Understand that the way you were brought up by your parents that you both treat and spend money stems from how. Think of everything that you need to discuss when it comes to your household budget. If possible, set rules on how you shall spend your combined income on utility bills, food, mortgage, car maintenance, etc.


Set future goals that are financial.

You are planning to have a baby soon, consider this when organizing your finances if you are newly weds and. If you are a couple nearing the age of retirement, you can make plans on where you will spend your leisure years. Setting long-term and short-term goals will help you finalize your financial plans.

Share your skills that are money-saving your partner.

If you have different family backgrounds, then you would have something to contribute towards organizing your joints assets. Make each other aware of your personal finances then think of ways on how you can further boost your tactics that are money-handling.

By following these tips, you will surely have your finances organized to lead a more comfortable lifestyle.

Read More

7 Auto Insurance Tips

1> Raising your deductible
Deductible is the amount you pay from your pocket before making an insurance claim. The disadvantage of raising your claim is when you make a claim, you will pay more. However, if you are a safe driver, you will overtime save more money by raising your insurance deductible. Look at your insurance that is previous claim and make a discreet decision for yourself.

2> Older Auto - Drop comprehensive / collision coverage.
If your car is not worth much, why pay for comprehensive and collision insurance coverage. You can visit a myriad of online sites to find worth that is true of car. Additionally your insurance broker might be able to pull up the worth that is true of vehicle.

3> advantage that is taking of mileage
Some auto insurance companies will give discounts if you drive less than a certain number of miles or drive less than a distance that is certain work.

4> Moving - Consider insurance costs.
It will be a good idea to call your insurance agent and get his opinion on the insurance costs in the new city or state if you are considering moving.

5> Low profile vehicle
Your vehicle will determine your overall also insurance costs. Some of the cars are favorite for thieves since they fetch a price that is good. Some cars are more expensive to repair. It makes a lot of sense to do amount that is adequate of before you make your auto purchase.

6> Make sure your vehicle is correctly listed by your insurance agent.
Many manufacturers offer somewhat similar model names for vehicles but insurance costs may vary. Additionally 2 or 4 door or the model that is wrong impact your auto insurance quote.

7> Have your insurance broker check other insurance company discounts.
a lot of companies will offer discounts if you and your spouse are insured with the insurance company that is same. Additionally, if you seek home insurance, life insurance, auto insurance from the same insurance company, you will get some discounts. Check with your insurance agent on saving funds.

Read More

5 Quickest ways to lower your Life Insurance Premium

Worried about the spiraling life insurance premium? We have enlisted 5 quickest ways to lower your life insurance premium. Well, keep these true points in mind but do tread with caution and act prudently.


Shop around and Bargain
Shop, Compare and Bargain! Well, the oldest principle, old as dirt, but still going strong. Once decided on your coverage, don’t just sign up for the first plan that crosses your eye. Ensure that you shop around (internet is a place that is great start) and get a feel of the market. This would help you to bargain hard and get the greatest coverage at the lowest possible price.


Opt for Term Life Insurance – The quickest way to lower your life insurance premium is to opt for Term Life Insurance policy instead of a whole-life policy. The idea is to keep insurance as what it is and not turn it into an investment product. Thus, you can get yourself insured under term life policy at the fraction of the cost of a whole-life scheme with typically the same coverage amount. However, do not forget that Term Life Insurance covers you only for a pre-defined period of time.


Keep yourself Fit – Be a low risk proposition for your insurance provider by maintaining a healthy lifestyle and keeping yourself away from addictions such as smoking, drugs and alcohol. A health that is good will result in considerable reduction in your life insurance premiums.


Consult an Insurance Advisor - To reduce your life insurance premium, the easiest thing you can do is to consult a good Insurance Advisor. Since the advisor will be pro in the insurance marketplace, he/she would be able to get you to the most deal that is affordable line with your coverage requirements. Essentially a good insurance advisor would compare different market rates for you and would also negotiate the best rates on your behalf. Well, internet is a place that is great identify an agent.


Start at a young age!
Insure yourself at a age that is young. Life insurance premium at a young age is only a fraction of what it could be when you are well into your middle-age. The premise is young and healthier people are the risk segment that is lowest. The mortality that is low is a great incentive for insurance companies to insure you at lower premiums.

Read More

6 Common Property Insurance Mistakes - You Could Lose Everything

Getting the right property and casualty insurance coverage may not rank high on your list of financial priorities. Compared with investment decisions and estate planning issues, questions about the language in your homeowners policy, say, may seem hardly worth considering. Yet the more successful you become, the more complicated your asset-protection needs are likely to be—and the more you have to lose. Suppose, for example, that in addition to your main residence—a historic home—you also own a house at the beach and a condo in the city. The properties are in three different states. The value of your collection of Abstract Expressionist paintings has grown rapidly. And you just volunteered to serve on the board of directors of a organization that is charitable.

Almost every aspect of this situation could dearly cost you. Insurance laws may vary widely from state to state, different kinds of property require specialized coverage, and collections of art, antique cars, and other unique items may be difficult to protect fully. Meanwhile, serving on a nonprofit's board could subject you to additional liability that is personal.

Safeguarding yourself and your family may mean buying additional coverage, but more insurance isn’t necessarily the solution. Rather, it’s important to review all of your needs, consider specialized policies or policy options, and coordinate other aspects to your coverage of your finances. Here are 6 different shortcomings that could prove costly.

1.  Leaving gaps in homeowners coverage. Any homeowner needs to review coverage regularly to keep up with rising replacement costs. But insuring different kinds of homes in different locales poses extra challenges. If you buy insurance from more than one provider, you may face contrasting rules, limitations, and policy renewal dates. For example, the liability limit on the policy for a home that is second fall below the minimum on an excess liability policy designed to complement the insurance on your primary home. You could wind up responsible for the difference.

2.  Ignoring properties unique characteristics. One perk of affluence is the means to own homes that are exceptional one drawback is that they may be difficult to insure adequately. Standard homeowners coverage won’t pay for the materials and craftsmanship needed to rebuild that 19th century showplace you’ve painstakingly restored. Coastal homes may face hurricane damage, while a accepted place in the California mountains could become topic to earthquakes or wildfires. Meanwhile, city co-ops or condos may need policies tailored to their buildings or associations coverage.

3.  Under insuring art and collectibles. Standard homeowners policies limit coverage for the losses of antiques, furs, and other valuables. And while you might schedule additional coverage, insuring the real value of a collection of contemporary art or vintage strength cars likely will require a specialized policy addressing several critical issues. How is the value of the collection determined? (You’ll need a appraisal that is professional the policy is designed, with frequent updates as items appreciate.) Will a destroyed or damaged item be paid for with cash, or will you be required to has it replaced or restored? Will additions to your collection automatically be covered?

4.  Forgetting to insure household employees. When someone works you could be liable for medical expenses and lost wages if the worker is hurt on the job for you or your family, as a nanny, landscaper, personal assistant, or in another role. Several states require household employers to pay into a workers compensation fund, while in other states it’s optional, but providing such insurance may be mandatory for ensuring your financial well being. If an employee drives your car, make sure he also or she is included on your policy.

5.  Neglecting your liability as a board member. Excess liability coverage could help protect you if you’re sued as a director of a nonprofit's board. Or for more protection that is comprehensive you may want to consider special directors and officers liability insurance.

6.  Failing to get frequent policy reviews and updates. Your financial life isn’t static, and neither are your insurance needs. The value of a collection may increase; extensive home renovations could mean a sharp rise in the value of your property; and the re titling of assets as part of your estate plan—or because of divorce, a death in the family, or the birth of a child—could necessitate policy changes. Even lacking major events, you probably need a review that is comprehensive of your insurance coverage at least every two years.

Read More

5 Easy Steps To Lower Your Auto Insurance Quote

It was not too long ago when contracts were made on a handshake and a promise.  Individuals were not particularly concerned with things like insurance for wrongful damage because they relied upon the goodwill of their neighbor to compensate them.  For a variety of reasons, including an increase in the speed and cost of auto wrecks, auto insurance soon became an important purchase for responsible individuals.  Not long after, the government that is federal that auto insurance be carried, at least minimally, by all car owners. The increase in the need for auto insurance over the last 10 years has led to increases in the complexity of insurance, while at the same time, amplifying the need to be more cost conscious in auto insurance purchases.


Buying auto insurance today requires as much dexterity as buying the automobile itself. It is important to know the factors that an auto insurance company considers when offering quotes. This will allow you, as the consumer, to know what steps you need to take in order to qualify for a lower quote. The five steps that are easy a lower insurance quote are:

1. Portray yourself as a ‘safe’ candidate: Insurance companies are interested in managing risk.  Consequently they offer drivers who are less likely to get into wrecks or at a minimum into wrecks of less severity, a lower insurance quote.


-Maintain a clean driving record, free of traffic violations or accident claims.

-Install anti-theft devices in your vehicle.

-Attend a Drivers Safety Training program.

-Buy a ‘safe’ vehicle. The National Highway Traffic Safety Administration (NHTSA) and The Insurance Institute for Highway Safety together collect information on safety related aspects of different vehicles. Buy an automobile that is officially designated as ‘safe’.

-Park your vehicle in a garage.


2. Show your Credit worthiness: As a risk management entity, insurance companies are also worried about getting paid on time.  Yourself to be credit worthy, there is less risk of you not making your payments on time, thus warranting a lower rate if you can show.

-Maintain a credit that is good and clear up any errors on your credit.

-Cut down on the number that is total of credit cards to 2 or 3.


3. Practice Financial Wisdom: the real way in which you structure and pay for your policy can lower the risk that an insurance company faces with respect to you as a customer.  By taking steps to lower their risk, you receive a lower insurance quote and policy.


-Buy an annual policy instead of a six monthly coverage to get you a lower rate that remains the same for a year.

-Opt for automatic payment deductions from your bank account or your credit card to avoid getting charged for mail payments.

-Increase your deductibles on comprehensive and collision policies to reduce on the rates.

-Get loyalty discounts by buying your home and auto insurance from the company that is same.


4. Assess your Insurance Needs accurately: This is obvious, the more coverage you get the more it shall cost you.  Add-ons are killers in the insurance business, strip your policy down to just the minimum of what you need.


-If your vehicle is not used much or you have an old car with little market value, opt for minimum liability alone. It shall cost you less.

-After fulfilling the legal mandate on auto insurance, insure according to your needs alone.


5. other things that are wise you can do: There are a number of other considerations that go into your insurance quote.  Some of them are not reasonable steps to take, while others you can do with little effort which can translate into substantial savings.

-If your car is used only for a particular purpose, make your agent aware of it, as this will limit the cost.

-Students that make good grades are often eligible for a discount.

-Give up smoking; it can better help you get quotes.

-Change your occupation if your can help. A delivery boy carries a higher risk than a storekeeper.

Read More

5 Basic Facts About Health Insurance Policies In A Bad Economy

1. DOES YOUR PLAN COVER YOU ON AND OFF THE JOB?

Many health insurance plans have specific exclusions that eliminate your benefits for anything that could have been covered under Workers Compensation or similar laws. Now read that sentence that is last.

COULD HAVE BEEN COVERED!?

That is correct. Most self employed people and even some business that is small do not carry Workers Comp on themselves.

There are designed insurance plans that will cover you on and off the job — 24-hours a  if you are not required by law to have Workers Compensation coverage day.

2. ARE YOU WRITING IT OFF?

Independent contractors (1099's), home based business owners, professionals and other self employed people generally are not taking advantages of the tax laws available to them.

Many people who are paying 100% of their costs that are own eligible to deduct their monthly insurance payments. Just that alone can reduce your net out-of-pocket costs of a proper plan by as much as 40%. Ask your accounting professional if you are eligible and/or check the IRS website out for more information.

3. INTERNAL LIMITS
All true insurance plans use some form of internal controls to determine how much they will pay out for a particular procedure or service. There are two basic methods.

-Scheduled Benefits

Many plans, some of that are specifically marketed to self employed and independent people, have a schedule that is clear of they will pay per doctor office visit, hospital stay, or even limits on what they will pay for testing per 24-hr. period. This structure is usually associated with "Indemnity Plans". If you are presented with one of these plans, be sure to see the schedule of benefits, in writing. It is important that you understand these type of limits up front because once you reach them the company will not pay anything over that amount.

Customary and-Usual

"Usual and Customary" refers to the rate of spend for a doctor office visit, procedure or hospital stay that is based on what the majority of physicians and facilities charge for that particular service in that particular geographical or area that is comparable. "Usual and Customary" charges represent the highest level of coverage on most major medical plans.


4.YOU HAVE THE ABILITY TO SHOP!

If you are reading this you, are probably shopping for a health plan. Every day people shop, for everything from groceries to a new home. During the shopping process, generally, the value, price, personal needs and general marketplace gets evaluated by the buyer. With this in mind, it is very disconcerting that most people never ask what a test, procedure or even doctor visit shall cost. In this health that is ever-changing market, it will become increasingly important for these questions to be asked of our medical professionals. Asking price will help you get the most out of your plan and reduce your expenses that are out-of-pocket.

5. NETWORKS AND DISCOUNTS

Almost all insurance plans and benefit programs work with medical networks to access discounted rates. In broad strokes, networks consist of medical professionals and facilities who agree, by contract, to charge discounted rates for services rendered. In many cases the network is one of the defining attributes of your program. Discounts can vary from 10% to 60% or more. Medical network discounts vary, but to ensure you minimize your out-of-pocket expenses, it is imperative that you preview the network's list of physicians and facilities before committing. This is not only to ensure that your doctors that are local hospitals are in the network, but also to see what your options would be if you were to need a specialist.

Ask your agent what network you are in, ask if it is local or national and then determine if it meets your own individual needs.

Read More

3 Ways Your Health Insurance Company Is Scamming You

1. Failure to pay claims

Usually fraud health insurance agents sign up a huge number of people quickly by offering them lucrative deals. These insurance providers keep paying premium that is small and medical claims, but if there is a substantial claim amount or regulators catch them, these illegal companies vanish as if they never existed.

So, just beware if you are getting delayed payments or your service provider is offering excuses that are fake the failure to make the payments. If you have signed up for these illegal plans, you may be liable for the medical bills of your employees as well.

2. Non-licensed health plans

If the  company from which you have bought your health care policy is not licensed by State Insurance Commissioner, you can be in trouble. Then the company may be phony if all the protections of insurance regulation do not apply on your service provider. In this case your service provider is scamming you by selling non-licensed health plans.


Insurance agents are not allowed to sell any legitimate ERISA or union plan as federal law governs them. So, if your insurance agent tries to dupe you by selling an “ERISA” or “union” plan, report them to your state insurance department.


3. coverage that is unusual at lower rates

If you are offered an unusual coverage irrespective of your health condition and that too at lower rate and much more benefits in comparison to other insurers, its time for you too hit the panic button. Do not get fooled by the lucrative offer, else you can be taken for a ride. The ‘scamsters’ aim to collect huge amounts as soon as possible so, they try to sell number that is maximum of at attractive prices.

Read More

How To Insure Your Classic Car

If you possess 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 plain things to consider when choosing an insurer for your classic vehicle.

<b>How will you be using your antique or classic vehicle?</b> <br>
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 shall pay. If you get a policy for a vehicle that is said 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.

<b>How much is your car worth?</b><br>
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 therefore there is no  question on its value.<br>
<b>Does the insurance company have classic vehicle experience?</b><br>
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 policy that is right. If you are a known 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. Should they try to fit you into a basic policy, find another agent.

<b>Are there any restrictions?</b><br>
Find out in advance if there are any restrictions on the use of the vehicle. You must know in advance at a certain location if you are limited to a certain mileage or if you have to garage it. Read your policy carefully.

Don't just accept the quote that is first you receive. Do your homework and you will find the auto insurance policy that is right for you and your car.

Read More

How To Pay Less On Home And Contents Insurance

Buildings Insurance went up again last year, costing homeowners another 1% a year, taking the average to just over £205 for a year's insurance. Contents insurance also went up, this time by 2% - now it costs the homeowner that is average a year. However, some lenders are hiking prices even higher than that – Norwich Union for example, raised its prices by a whopping 6% last year.

The question is - why? There's so much competition out there, you'd expect prices to be falling, not increasing – but there are other forces at work, as we go on to discuss.

No 1 – the cost of having a  house repaired or rebuilt

Labour and building materials are getting more costly, so when the insurance company calculates how much it would cost to rebuild your house, prices are higher. This is due to inflation, and the same thing affects the insurance company and its very own operating costs. Wages, bills, office rental – all these costs are increasing on year – so of course insurers have to factor these in year.

No 2 – the weather

The British weather is getting more and more tempestuous, whether it's due to global warming we are not qualified to say, but it's a fact that we have been experiencing a lot of extreme weather in the past few years. The 1987 hurricane was a freak occurrence, but flash floods such as the incident in Boscastle, Cornwall, Helmsley in North Yorkshire, and Carlisle are making the headlines on a regular basis. The Association of British Insurers has stated that the average insurance claim due to flood damage could be anything from £15,000 to £30,000, making huge dents into the insurance industry's profits. Every year in fact, floods cost insurance companies millions.

No 3 - Burglary

Claims due to burglary have been going up, now average at around £1,400. The 2 main causes are:

• From digital cameras to laptops, game consoles to ipods – our houses are full of electronic gadgets with a high value bought new, and a high value resold. Burglars are after these items and it's hitting the insurance industry where it hurts – their pocket.

• Burglars pick posh neighbourhoods to ensure they get away with the best items - with expensive items like jewellery for the taking, the value of these kind of claims is increasing.

Insurance companies use statistics relating to a area that is postcode calculate premiums for everyone in that area. If your neighbours have suffered subsidence, or your area is near a river which has been known to flood – you will have to pay higher premiums. Similarly, if people in your area have been broken into, then it will be assumed that you are at a higher risk of making a burglary claim too.

Having a discount that is no-claims a help when it comes to offsetting the annual rise in premiums, but insurance companies cap these discounts once you have 5 years no claims, so you will not get any further discounts.

So is there any way to avoid the rising cost of home and contents insurance?

The first thing you can do is look around for the deal that is best. Try the Internet for top deals, because insurance companies that are most offer a discount, often 10%, for customers that buy online. You shall also save if you pay by direct debit. It's tempting to accept your current insurer's renewal quote but don't be fooled – the small amount of effort it will simply take to shop around will pay good dividends. One of the reasons for this is because insurers always offer their best deals to customers that are new existing customers are virtually penalised for showing loyalty!

Improving your home security is another good way to reduce premiums – while giving you essential peace of mind. Neighbourhood watch schemes, external security lighting, a burglar alarm, security locks on windows, and industry-recognised locks on external doors will make a difference. Obviously these things cost money to install, but they pay for themselves in the run that is long.

Play the insurance company game and you will always win – shop around, be prepared to move insurance company every year, and don't accept any prices that are high. There's always a better deal out there!

Read More

How To Quickly Find The Best Term Life Insurance Quote?

The concept of term life insurance is very easy to understand. Term life insurance remains effective for a limited, predetermined time span. A term life insurance holder pays premium that is regular the term of his life insurance policy. If the insurance holder dies during the term, death benefits directly go to the beneficiary.

Most of the life insurance policies offer variety of options but term life insurance offer only limited flexibility. Additionally, term life insurance does not make any cash value or any residual. After the expiry of term life insurance policy, there is no use of it, you just need to renew it or purchase a new one.

It is also true that options are more readily available with other insurance solutions. Despite simplicity and limitations, term life insurance is still sensible among many customers.

Those who need short-term life insurance protection should prefer term life insurance policy. Some times it happens that an individual is not covered by any full life insurance policy due to some reasons, under such circumstances, a term lifetime insurance can fill the gap, protecting the financial interests of their family. If you also need life insurance coverage for a period that is short term life insurance comes in picture.

Term life insurance is mostly meant for young people that are working families. You can quickly find the term life insurance that is best quote using Internet. While searching for online term life insurance quotes you should keep some  points in mind like the premium to be paid, term of the insurance, term life insurance rate, authenticity of the company etc. You can find affordable term life insurance by searching online life insurance companies. By comparing life insurance policies of different companies you can find the best term life insurance policy suitable for you. Life insurance is crucial for all of us. Do not postpone it any more. Get a life insurance that is new. Good luck.

Read More

How to Save on Car Insurance

Everyone who owns a motor car needs auto insurance. This article shall give you some tips on lowering your auto insurance costs. You will find a checklist of items to ask your insurance agent that may qualify for discounts. Keep in mind that not all discounts can be applied with all insurance companies in all states.

1. Shop Around

Go to your favorite search engine and type in "free car insurance quotes online". You'll see a long list of insurance companies that you may even be familiar with. Visit at least five car insurance websites and look for a link to quotes that are free. You will then be asked information that is basic yourself, your driving history, and your car's make, model, and year. It just takes a couple of minutes, and shortly thereafter, they shall email you a no obligation quote. Write down their website address, their toll free number, and customer service email address.

Each insurance company will ask you generally the same questions, and will give you options about how coverage that is much will want. Find your current policy, you currently have if you have one, and take note of the coverage. Always provide the information that is same ask for the same coverage at each company so you will be comparing apples to apples. Read the fine print and make sure nothing is excluded from the quote like Rental car coverage, towing, medical, etc...

The insurance company will not ask you your social security number, but keep in mind your actual cost maybe higher or lower depending on your credit history for the purposes of the quote. If you are not sure about some of the terminology or coverage, take notes so that you can ask the insurance company about them directly.

Once you have at least five quotes emailed to you, take the lowest two or three quotes and see you are paying now if they are less than what. Most likely at least one of them is much lower. At this point you will want to call them directly to get the most accurate quote by providing additional personal information. For additional discounts, here is a checklist of things you should ask about.

[ ] $500 deductible


[ ] $1,000 deductible


[ ] Paying monthly, semi-annually, or annually


[ ] More than 1 car


[ ] No Accidents in 3 Years


[ ] no Violations that is moving in Years


[ ] Driver Training Courses


[ ] Defensive Driving Courses


[ ] Anti-Theft Devices


[ ] Low Annual Mileage


[ ] Air Bags


[ ] Anti-Lock Brakes


[ ] Daytime lights that are running


[ ] Student Drivers with Good Grades


[ ] Auto and Homeowners Coverage with the Same Company


[ ] College Students away from Home


[ ] Long-Time Customer


[ ] Other Discounts

2. Saving Insurance Premium on cars you own outright.

If you own a clear title to your car, meaning there is no bank loan on it, then you may want to consider dropping the collision/comprehensive coverage. As a rule of thumb, if the cars value is less than $3000, it may not make sense for you to pay for this coverage that is additional. Over time, the cost of the additional insurance premium will exceed the value of the car. It's pretty simple math.

Check the market that is fair of your car either through Edmunds.com or even your local newspaper. See what other people are trying to get for the car that is same. Keep in mind your cars mileage, condition, and age. Has it been in an accident before? Does it have unusually high mileage in excess of 15,000 miles per year? Does it need new tires? You get the idea. Be realistic, because in the event that this car is in an accident and is damaged beyond repair, it is unlikely you will get the value that is full of car.

3. Ask About Insurance Rates in Different Areas

Rates can vary widely even in the state that is same. Different locals have different accident rates, population, and crime. These all factor in to the cost that is final. If you are moving to a area that is different ask about what the rates are for that town.

4. Ask About Getting Other Insurance Policies Together With Your Auto Insurance

Combining insurance policies with the company that is same often give you additional discounts. If you own a home, ask about combining your auto insurance to your homeowners insurance. Also ask about other polices, such as life, health, and business insurance. Most insurance companies cover a range that is wide of and will give substantial discounts when you do business exclusively with them.

5. A Clean Credit History Can Reduce Car Premiums:

Having credit that is good also lower your insurance costs. Many insurance companies will use credit information to price auto insurance policies. Drivers with good credit and a clean driving record may qualify as a "preferred" customer with lower risk and are rewarded with lower premiums.

6. Low Mileage Discounts

Some companies offer discounts to drivers who drive a lower than average number of miles per year. If you car pool, take public transportation like the subway, or work from home, you will most likely drive few miles per year than the average driver.

7. Group Insurance

Some insurers offer discounts to drivers who work for certain companies or belong to associations that are professional and alumni groups. Ask your employer, group or clubs that you belong to if they have any special arrangements with different insurance organizations.

Using all of these tips can save you hundreds of dollars per year, especially when you have multiple cars and multiple drivers in the household that is same.

Read More

How To Save On Your Auto Insurance

Let your fingers do the walking… Remember that Yellow Pages Ad Campaign? Excellent advice if you’re shopping for auto insurance. Shop around and do it yearly. Don’t just keep paying the invoice over and over without comparison shopping. Below are a few suggestions to help you get the best deal available on your automobile insurance policy.

Insurance agents really have a complete lot of leeway. They can price match and they can offer many discounts. There are also decisions that are many can make about your policy that will save you a bundle. For example, if you change your deductible on your collision from a $50 deductible to a $1000 deductible, you’re inline for a huge premium savings. If you don’t think you could come up with $1000 out of pocket, then change it to a $500 deductible; you’ll still save a sizable amount on your annual premium payment.

Your can also get more of a savings if you change your comprehensive deductible. Many people needlessly carry full coverage on their older vehicle. They originally purchased the vehicle new, paid for full coverage and to this day, continue to pay the same high rate. Their ten year old vehicle may be worth $1000 or less, yet they continue to pay $250-$450 every six months (total $500 to $900 dollars a year) to keep full coverage on their old vehicle.

However, if they have an accident and totaled their vehicle, the insurance company will only pay them the wholesale value of the vehicle. The amount they would receive could be $1000 or less. A vehicle that old just needs the insurance that protects the other person in case of an accident.

Another method to save more on your insurance is by combining your vehicles and other insurance together to get you additional savings. All insurance companies offer a multi-car discount (if your own doesn’t, it’s time to switch companies). Further, many will discount more if you have their homeowners or renters policy with them.

There are a few other discounts that you may not be taking advantage of. It seems obvious, but ensure you are getting the correct rate for your age. There are discounts for various ages than can save you lots of money. Check with your agent on this one. Also alarm systems on your vehicle are usually good for a discount. Additionally, anti-lock brakes and air bags can also help lower your premiums.

Don’t just keep paying the invoice when it comes in. Your insurance bill should be an automatic trigger for you to make a few phone calls to see if you can save even more money on your auto insurance premiums.

Read More