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Homeowner And Auto Insurance Quote

admin — Fri, 09 Jul 2010 19:10:00 +0000

I believe many of you understand that you can get/ask for a discount if you buy auto insurance from your home insurance company. Many insurance companies offer this kind of discount, used to be called as multi-discount.

From this article you will find several tips you can follow to save a good amount of money when you buy your insurance.

1.Shop, shop, shop: Always shop around. Different underwriting guidelines may cause one company to charge more for your homeowners and/or auto policy where another company may be able to offer discounts. Get a couple of quotes and compare not only the premiums, but compare overages.

2.Deductibles: Rule of thumb, the higher the deductible, the lower the premium. Remember, however, the purpose of insurance is to make you whole in the event of an insured loss. Don’t raise your deductibles to the point where you’re spending more out of pocket than you can afford. If you currently have a $250 deductible and can live with a $500 deductible, then raise it accordingly. However, if you raise your deductible to $5,000 to save money on your premium and then suffer a loss, that first $5,000 comes out of your pocket. So, raise them only as far as you can afford.

3.Discounts : Ask for discounts. Some companies offer discounts to senior citizens which can amount to as much as 10%. Other companies offer discounts on auto policies to teens who maintain good grades (B or above). Your agent is aware of these discounts so always ask.

4.Longevity: Once you find the right insurance company, stay with them. Insurance companies like loyalty and will offer discounts for remaining with them for several years. Three to five years with the same carrier may earn a 5% discount and six years or more as much as 10%.

5.Credit Score: As unfair as it sounds, your credit score is taken into consideration when determining your premium. Know your credit score and do whatever you can to improve it.

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Cheap Health Insurance Plan

admin — Mon, 18 Jan 2010 02:03:00 +0000

Is there such a thing as cheap health insurance? It hardly seems possible when you look at the rise in hospital costs and physician services. Insurance companies have the task of underwriting the medical risk for insurance. The insurer then issues and delivers the policy to the insured once they are accepted into the plan. The policyholders then receive the policy declaration pages that list all of the benefits and features.

What are those benefits and features? How do they work after a hospital stay? When you begin to find the answers to those questions then you begin to understand what makes up the total premium. When you receive your first benefit statement after a hospital stay then you will begin to understand how the deductible is applied and how the coinsurance works.

Simple claims analysis

1. Total inpatient expense for 4 days in the hospital including physician services amounts to $4000.

2. Your policy has a $500 deductible with an 80/20 coinsurance clause with a maximum out of pocket $2000.

3. You must pay the first $500 for your stay leaving a balance of $3500.

4. You will pay 20% of that $3500 or $700 and the insurance company will pay $2800.

When your 20% reaches $2000 then the insurance company pays 100% of the remaining costs up to a million dollars (or 2 million etc).

The health insurance buying trends indicate that people are purchasing health insurance with higher deductibles. Deductibles bring down the premium dramatically. There are some plans with deductibles as high as $5000. This is called self-insuring because in essence that is what you are doing for the deductible amount.

Health Savings Accounts are also starting to become very popular. These savings accounts are tax deductible. They are like medical IRA’S. Contact your tax advisor or accountant for more details.

Please see our recommended source for insurance quotes. We have done the research so you don’t have to.

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Alternative Low Cost Health Insurance

admin — Fri, 18 Dec 2009 05:59:00 +0000

Some things in life are taken for granted and the privilege of having health insurance may be one of them. Employers have to give their employees some kind of benefit program in their overall compensation package. The employee expects it and enjoys the security of having good health insurance. Everything changes when the employee leaves the employer. Insurance decisions have to be made. No one can escape from this process. The employee soon finds the cost to continue the insurance to be much more than expected and they start scrambling for alternatives. Are there alternatives? What can be done to reduce the cost?

There has been a major shift in thinking by the insurance buying public over alternatives to lowering the cost of health insurance. Low deductibles are a thing of the past. It has taken some time to change the thinking about having low deductibles. Low deductibles mean less out of pocket expense. It works the opposite in today’s market for health insurance. The premiums paid for lower deductibles are so high that it no longer makes sense to have them. The higher deductibles reduce the premium dramatically. There are deductibles as large as $5000 in some health insurance plans.

Two Alternatives

1. Take the highest deductible that you can afford. This is called self-insuring. You are insuring yourself for the deductible amount in exchange for a lower premium.

2. Start a Health Savings Account. This is a savings account that is used for medical expenses only. This is a fantastic way of putting money aside for the out of pocket deductible amount and any additional medical expense. The best part about it is that the health savings account is tax deductible. See your tax advisor or accountant on how to set up this plan.

Insurance is a great place to start to lower your monthly bills. We hope that this will help you analyze your next quote. Please refer to our recommended source for insurance quotes of all types.

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Cheap Travel Health Insurance

admin — Thu, 22 Oct 2009 02:24:00 +0000

We are all fond of bargains, and paying less for a given product or service and travel health insurance is not an exception. But one thing never to forget is that cheap can often get more expensive and savings are not always reasonable – especially when health and life are concerned.

So be careful when you select a cheap travel health insurance plan. If the plan does not cover what happens when you are traveling, then you might regret your stinginess. You’d better find other ways to cut costs than by reducing the number of risks covered.

One way to get travel health insurance cheaper is by purchasing a multi-trip travel health insurance plan. This is applicable in the cases when you travel frequently. Another alternative for frequent travelers is purchasing annual plans or choosing a new plan that has the option of renewing it at a discount.

Another way to save money is to buy travel health insurance for a particular country only. There are companies that offer such plans, though most of the offers on the market are for any country outside the US.

If you travel with your family, then a family plan is the best option in terms of money. The same applies to group plans, if you are traveling as part of a group.

A riskier alternative is to select a plan in which not all medical expenses are covered by the insurer but you are a co-payer. In general these plans are cheaper, but there is less security for you.

How much you will save from choosing a cheaper travel health insurance plan is up to you. There are many online insurers that provide a calculator to check which of their plans are applicable for you, but never forget that cheaper is not always better. It is a bargain only if you pay less money for the same risks!

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