maanantai 23. joulukuuta 2013

Couple 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 because they relied upon the goodwill of their neighbor to compensate them for wrongful damage.  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 federal government mandated 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 easy steps to a lower insurance quote are: 

First:. 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.


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

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

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


Third:. Practice Financial Wisdom: The 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 same company. 


Fourth:. Assess your Insurance Needs accurately: This is obvious, the more coverage you get the more it will 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 will cost you less

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


Fifth:. Other wise things that 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 help you get better quotes.

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


sunnuntai 22. joulukuuta 2013

Couple Basic Facts About Health Insurance Policies In A Bad Economy

First: 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 last sentence again.

COULD HAVE BEEN COVERED!?

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

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

Second: 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 own costs are 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 out the IRS website for more information.

Third: 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 which are specifically marketed to self employed and independent people, have a clear schedule of what 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.

-Usual and Customary

"Usual and Customary" refers to the rate of pay out 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 comparable area. "Usual and Customary" charges represent the highest level of coverage on most major medical plans.


Fourth: 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 will cost. In this ever-changing health insurance 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 out-of-pocket expenses.

Fifth. 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 local doctors and 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.

lauantai 21. joulukuuta 2013

Couple Things To Remember When Renewing Your Home Contents And Home Buildings Insurance

Each year when our renewal notices come through the post for our home contents insurance and/or home buildings insurance, most of us automatically sign the form and send it back to the insurance company – after all, we already know how much the premiums are going to be.  Big financial mistake, and here are 4 reasons why:

Did You Buy Anything New In The Last Year?

If you bought anything new in the last year, say a new television or video recorder, then the value of this new purchase will not be included in the renewal notice you just sent off to the insurance company.  Likewise, if you sold anything of value over the last year, and have not informed the insurance company, then you are paying home contents insurance for something you no longer own.  Either way, your not paying the right amount of insurance premiums.

Did The Costs Stay Static?

If you have home contents insurance then you are insuring your personal property for the replacement cost of buying the same thing new.  On the other hand, part of your home buildings insurance should cover the cost of labour and materials.  Now ask yourself, would the cost of replacing the picture hanging in your living room be the same today as it was last year?  If the answer is that it would cost you more, tough luck, you'll only get paid out what you said the cost of replacing it would be!  The same can be said of your friendly builder, would he charge you the same for an hour of his time and for his materials today as he would have done last year?  If the answer here is no, then you should be expecting to pay him the difference.

Did The Value Of Your Home Stay The Same?

Similar to the above, with your home buildings insurance you need to be asking yourself whether or not the value of your home stayed the same this year as it was last year?  You need to be asking yourself this question even if you didn't do any work to the house – such as building an extension – that would naturally automatically add value to your home.

Is Your House Any Safer Today?

Here the question is, have you done anything to your house over the last year that would mean your home would be considered safer today than last year?  For example, did you add any deadlocks to your doors or windows?  If so, then there's a very good chance your home contents insurance premium would be reduced, as the security in your house is a major consideration in assessing your premium (along with the crime rate in your neighbourhood, so you may also want to check and see if this has gone up or down also).

Keep in mind that time stands still for no man.  As such, you need to read your home contents insurance and/or home buildings insurance renewal notices very carefully to make sure that they reflect, as accurately as possible, your life today and not your life of yester-year.

Few Reasons To Get An On Line Auto Insurance Quote

Whether you are looking for a new auto insurance plan, or just want to see what is out there, getting an on line auto insurance quote is a great idea. There are a variety of great places you can go online that will offer you free auto insurance quotes with no hassle whatsoever. If you have not got your instant auto insurance quote, the following are four great reasons you need to give it a go.


  • It’s So Easy! - One of the best reasons that you should get an on line auto insurance quote is because it is so easy. No need to flip through your phone book looking for places to call or to spend your day on the phone trying to get a quote from a company. You can get your quote online without a bunch of hassle and it is so much easier than trying to call someone up. Online you can just simply enter your information and then get a great quote back on auto insurance.



  • It Can Save You Big Money - Getting an instant auto insurance quote online can also save you a great deal of money. Often you will find that the quotes you get online are much cheaper than you could get anywhere offline. Many companies actually offer special online rates if you go online to get one of their auto insurance quotes. 



  • It’s Totally Free - Another reason you should get your on line auto insurance quote is because it is totally free. There are a variety of places that you can find free auto insurance quotes, and you will have no obligation whatsoever when you get a free quote online. Since it is totally free, there is no reason not to find out how much money you could be saving on your auto insurance.



  • It’s Fast - Getting your auto insurance quote online is also very fast. You can get an instant auto insurance quote that will allow you to know how much you could save in just minutes. Why spend time waiting forever on hold with a company on the phone, when you can get an instant quote online.


If you need an insurance quote, and on line auto insurance quote is definitely the best way to go. They are easy, free, fast, and can save you hundreds of dollars on your car insurance. What are you waiting for? Your quote on car insurance is just a few seconds away.

Couple Ways Your Life Insurance Company Is Scamming You

Although it makes sense to get in touch with a life insurance company to cover your dependents in the eventuality of your untimely death, there are integrity issues surrounding the insurance companies and agents. Broadly there can be 3 ways your life insurance company is scamming you. We have enlisted them for your benefit.


Selling Coverage that you don’t need! 
The insurance companies thrive on the fact that most people don’t understand their life insurance needs. With standard products, they try to sell you coverage that you might not need, but, which are lucrative for them. The insurance agents expedite the process so that you skip the fine print and sign up for a coverage that is ill-suited to your needs. The trick is to play on your fear factor and sell you heavy insurance, even if you don’t have dependents.


Coaxing you to pay ‘Cash’ 
We strongly suggest, do not pay your premium through cash to an agent. Further, do ensure that you get a receipt for the payment. There are numerous fraudulent entities posing as genuine insurance agencies that extract hard cash from you in lieu of insurance premium. They ask you to sign at blank spaces in a form, assuring you that it is just a formality. Once you have fallen for their trick, you are left without an insurance coverage. The worst part is that most victims only come to know of this scam, when they have met with some mishap and there is not insurance to cover them.


Luring you with benefits! 
Insurance agencies and agents have a way of promising you unbelievable benefits out a life insurance policy. Life insurance agents might offer you plans, with a guarantee that the policy would run premium-free for a specific period. Some agents play it smart and offer you great discounts for signing you up for a new policy, while replacing an old policy. The trick is that the old coverage gets terminated and new coverage does not get initiated due to the cumbersome procedural bottlenecks. Thus, exposing you to risk without cover.

Couple Ways Your Health Insurance Company Is Scamming You

The growing number of consumers taking up health insurance plans has led to the mushrooming of scam health insurance providers. These providers often target new retirees and the elderly individuals and small-business owners, who can't negotiate better rates with legitimate insurers. Be very cautious before you invest in any health policy. Read on to get an idea about 3 ways in which your health insurance company can scam you.


First possible way: 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 small premium amounts 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 fake excuses for 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.

Second Possible Way: 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. If all the protections of insurance regulation do not apply on your service provider, then the company may be phony. 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.


Third possible way: Unusual coverage offered 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 early as possible so, they try to sell maximum number of policies at attractive prices.

Couple Warnings Before Switching Auto Insurance Companies

We've all been bombarded with ads, emails, commercials, and billboards saying how much we can save on our auto insurance by switching to another company. It's a competitive industry. Just  because another company is offering a better rate doesn't mean you should rush to call and cancel your insurance and switch. There are a few things you need to make sure of before you do.

Here are a few things to watch out for before you switch your auto insurance to another company.

If you've been with one company for many years and they offer a credit that waives the first accident you have, you may want to stay or see if the other company can match it. Sometimes this is referred to as good driver discount or a longevity discount or accident forgiveness. The company rewards you for your loyalty by waiving the first accident you have.

This discount can be pretty significant. Since most accidents can raise your rate by 40% for 3 years the potential savings could be several hundreds of dollars over that 3 year period. But when you switch companies, you lose this credit you've built up. If you have an accident with that new company how much are you going to regret not having that accident forgiveness by seeing your rates jacked up by 40%?

Another thing to be mindful of is to make sure the company you are switching to is not offering you just a teaser rate for the first 6 months to get your business and then bump you up 6 months later once they've got you on their books. Since auto insurance is a profitable industry, companies may offer you a low ball rate to get you to switch and then once they've got you increase your rates at the renewal. If the rate the new company quotes seems too goo to be true do more research. Check out insurance forums or search Google for "XYZ insurance + Reviews."

Watch out for hidden fees. This is one that can surprise you. Some companies charge you for making monthly payments - usually $3-$5 a month. Over the course of a year that comes out to $36-$60. That one fee can take a big bite out of your potential savings so make sure you factor that into the rates you are comparing. Make sure you are really saving money when you switch.

Two other things to keep in mind when shopping around for auto insurance are the new company's website and hours of operation. Make sure their hours work with your hours. If they are only open from 8-5 and you work 8-5, when are you going to be able to call them if you have a question or need to make a claim? If you do all your business online you want to make sure the company you are looking at has a capable website that can help you 24 hours a day.

You can save money by shopping your auto insurance around. Just be sure to keep in mind the things I've mentioned to make sure the deal you're looking at is really a great deal.