Tips for low-cost car insurance rates
Auto insurance can actually make a huge difference to anybody’s financial life. So you
can bet in today’s world that everyone wants to save a few pennies where and when
they can. If you are trying to slash a current premium or looking for a new offer, here are
some tips for negotiating low-cost car insurance rates.
Young Driver Discounts
The U.S. Census Bureau reported that the majority of road injuries currently occur
among drivers between the ages of 16 and 25. Young drivers are inexperienced and
frequently easily distracted when driving. Given these figures, it is fair that car insurance
companies will charge these customers a higher rate due to increased risk.
Many auto insurance companies offer their younger customers a student discount
program as a way of alleviating the financial burden of those premiums and providing
cheap auto insurance rates for this demographic. Typically, to qualify for a discount of
up to 20 percent from certain insurance providers, a student must hold an average B or
higher
Saves Time Bundling
Customers who purchase their car, home and life insurance plans all from one firm
usually get reduced rates on all of their premiums. Some may wonder why insurance
firms would give certain customers such low auto insurance rates. Insurance firms know
that if, so to speak, a client has all his eggs in one basket, they are less likely to leave
the nest. Therefore they can continue to give heavy discounts because they know this
customer’s chance of losing is minimised.
Review your discounts
The deductible is the amount of money you are expected to pay out of your own pocket
while filing a claim for an accident. The cost would be above and above the insurance
policy. Take the chance of higher premiums versus premium savings over your policy
lifetime. And if you have an accident and need to lodge a claim, you can find that
savings are much more valuable than paying higher premiums over time.
Online shopping / use aggregators
annual review process. It can be especially effective to shop for your auto insurance policy once
a year, when growing numbers of insurers use competitive pricing and analyze their customer
behavior when setting rates.
The simplest way to find the best rates and inexpensive auto-insurance is to use the
resource available in almost all households-the internet. Online auto insurance
shopping is the smartest and most cost-effective way to do it. It’s not only easier to visit the website of each insurance provider and collect the information you need, but there
are websites that incorporate the information for you, such as affordablecoverage.com,
allowing you to obtain offers from several insurers at once!
Within the insurance sector, platforms collecting and comparing insurance rates from
different insurers are called aggregator pages. Such sites are an easy to use resource,
particularly if your auto insurance quest begins. If appropriate, you should be able to
predict the insurance costs in relatively limited terms and make an educated decision
about which policy you want.
Getting cheap car insurance rates isn’t as hard as it might sound. With the right
knowledge and resources, decision taking has never been simpler. Make sure the
discount schemes insurance firms have to sell, suggest bundling insurance plans, and
study and compare rates before signing on the dotted line.
6 myths of auto insurance debunked
Car insurance can be a mystery to a lot of people, but there are some common car insurance
myths that just seem to add to their inexplicable allure. This article aims to debunk mythology
and set it straight.
Auto insurance misconception # 1: Red vehicles pay more than other colors for insurance
The complete myth – most car insurers don’t even ask for your car color when you apply and get
a quote. Year, however, make, model, body type, engine size and regulation drivers make a
difference in how much you pay.
Auto Insurance Myth # 2: One Speeding Ticket Would Skyrocket My Costs
Part of the misconception – your driving record will certainly impact your insurance rate, but one
violation is usually not enough to make a major difference in your premium. Holding a good
driving record and taking a defensive driving course will improve the score.
Car insurance myth # 3: I just need the bare minimum coverage
Myth – while some drivers will fail with limited coverage, most people should be covered
extensively. The car insurance level you need should be based on your vehicle replacement cost
and any assets you want to safeguard in the worst case scenario.
Auto misconception # 4: Insuring the Older Vehicle is less expensive
In certain situations – the cost of insurance on a car depends on a number of variables, including
the total vehicle miles and who drives the vehicle. Most older car drivers just want to cover their
cars with liability, which is naturally cheaper.
annual review process. It can be especially effective to shop for your auto insurance policy once
a year, when growing numbers of insurers use competitive pricing and analyze their customer
behavior when setting rates.
Car insurance Myth # 5: Car premiums Go Down at 25 years old
That depends, although the driver’s driving history will determine the truthfulness of that
statement, often car insurance rates will start to decline at age 25.
Car Insurance Myth # 6: I Should Stick With One Insurance Company and Save Big
Total misconception – while some drivers are granted a customer loyalty discount, such drivers
typically need a diminishing clean driving record. Car insurance firms are highly competitive,
which reduces prices when an insurer wants to steal your business. Therefore, the only way to
make sure that its lowest price on auto insurance is to compare the insurance rates at least
annually with other insurers
Health Insurance Six Ways to Save Money on Your Monthly Premium
Six Ways to Save on Your Monthly Health Insurance Premium
The high costs of health care will certainly place a lot of people and families under considerable
financial pressure. This financial burden often causes great anxiety , stress and even conflict
among family members. Fortunately, you may do a variety of things to reduce your monthly
health insurance and to ease your concerns.
1. Remove both alcohol and tobacco. Tobacco has been shown to cause a variety of health
issues, such as cardiac disease , lung cancer and stroke. Many insurance providers charge
consumers high premiums in order to cover the burden of high healthcare costs. Indeed, most
people smoking pay for health benefits at least 15% higher. Individuals who consume alcohol
regularly are often more likely to develop cancer, cardiovascular disease , high blood pressure
and pancreatitis. Similarly, tobacco consumers should expect to pay even more for prescription
benefits if they drink excessive alcohol.
2. Enter a community, professional association, or collective health insurance club. This is a
good alternative for people who are not insured or self-employed through their employers. This
is also considerably cheaper than health insurance premiums. The Freelancer Union, the National
Self-Employed Society, and AARP Health are only a few examples of organizations that provide
health insurance.
3. Think about buying an HMO package, also known as an organizational health maintenance
program. Although HMO policies are much less flexible compared to other insurance types,
including PPOs, the premiums are typically much lower. You would have to select a primary
care provider if you intend to buy an HMO. You may still need to be referred to a specialist by
your primary care provider.
4. Lose a bit of weight. Lose some weight. Like tobacco or alcohol use, being overweight raises
the chances of developing some serious health issues such as diabetes , heart disease and some
forms of cancer. Thus, overweight people should expect to pay around 35 percent more than they
would for health care premiums if they were safe.
5. Get a medical plan for the short term. This is a perfect choice for people between jobs who are
unable to afford COBRA coverage. Although deductibles are generally relatively high, these
compensation limits may be as low as $30 a month. Usually, these types of policies cover for up
to 11 months. Moreover, they do not usually cover conditions that occur before. In addition,
short term healthcare benefits usually cover injuries and disorders only, not regular treatment
such as annual physical examinations.
6. Drop any choices you do not need. For example, you can save your monthly plan by removing
unlimited doctor’s appointments from your plan if you visit your primary care doctor very rarely.
Furthermore you may want to consider withdrawing prescription coverage from insurance to
save on your monthly premiums if you do not take medications or take ones you can buy in a
low cost manner.
Buying a plan for health insurance can be very difficult and anxious. However, you can save
considerable money for your premiums and reduce your stress levels significantly by following
these guidelines.
Popular terms and conditions of health insurance explained
Popular terms and conditions of health insurance explained
Transition is the only constant aspect in the field of healthcare. While the healthcare
system is constantly evolving, many specific aspects of health insurance have remained
the same. For a patient, it is very important to understand the context and interpretation of
these words so that you can properly control your medical costs and appreciate the
advantages of your program. Packed with simple health insurance terminology, you
would also be in a great position to question the insurer should they make a claim error.
Deductible
This concept is very common in the insurance sector as a whole and does not vary in the
field of health care. The premium is the total sum that the patient is responsible for
paying before coverage is given by the approved insurance program. This amount can
vary from hundreds to thousands of dollars depending on the carrier and the policy.
Health insurance providers or self-insured employees use the exclusion as a mechanism
to regulate rates and compel people to assume more responsibility for their health care
expenses. The sum must be met on an annual basis in order to be compensated because it
is part of the program.
Copayment
The term copayment can be used very broadly in the healthcare field. Strictly speaking,
you pay a fixed price for a service that a company charges. The most popular service
associated with this is a visit to the hospital, where patients may receive a copayment of
$25 or so. A copayment is usually the lowest for a routine visit to the primary care
doctor, and only escalates if you see a specialist or go to the emergency room.
Copayment is a standard feature in both HMO and POS health plans.
Coinsurance
Copayment and coinsurance are two terms that are sometimes misunderstood and, for
good reason, somewhat similar. The key difference is that currency insurance applies to
the amount of the provider’s premium that you are responsible for paying. This number
may vary for each provider and is not a set dollar sum as a copayment would be. Most
PPO plans protect the patient at 70-80 per cent and the patient has 20-30 per cent
coinsurance attributable to the provider. The number would also serve as the patient’s
liability for describing the benefits you receive from your health insurance company.
Explanation of benefits
The form is generally referred to as the EOB and is given to you by the health program
after receipt of a payment claim from the provider. This indicates the price that the
company has charged, the actual contracted rate that the company has and the sum that
has been billed. In addition, there is a column on the right that shows what the patient may be responsible for paying for. This paper is relevant because it is the official
correspondence sent to you and the provider as to what balance is due. This is the only
form that you should use to determine what expenses you need to pay. You may get an
incorrect bill from a provider that says you owe more than your EOB shows; this is
probably a mistake on the part of your provider. Nevertheless, with the information you
have from the EOB, you should know that what is owed is not unfairly overpaid.
Healthcare can be a very difficult part of our lives. When you understand the terminology
used by your doctors and health insurance companies, it makes it easier to handle your
costs and accept your benefits. Despite health care costs rising significantly in recent
years, you need all the information you can get to make sure that you save money if the
opportunity presents itself. Then you’re going to be able to take advantage if and when
the chance comes along.
annual review process. It can be especially effective to shop for your auto insurance policy once
a year, when growing numbers of insurers use competitive pricing and analyze their customer
behavior when setting rates.
The Importance of Health Insurance Coverage
Buying health insurance is a very critical decision. No health coverage is like
sailing without a life jacket: you’ll never need it, but you’ll regret not having it in
difficult times. For fact, sufficient health insurance will provide you with a sense of
protection so you don’t have to worry about medical treatment.
Many workers take care of their work opportunities for health insurance
coverage. Nevertheless, with worldwide unemployment rates increasing,
competition for cheaper alternatives forces private insurance firms to fight hard
for their profits. The multitude of available affordable insurance policies make it
easier for you to find your budget-friendly policy. Private insurance can provide
more coverage than the traditional work form, but can also supplement the basic
policy.
Health insurance can be very expensive and many people continue to disregard
the need to save money. What they don’t realize is that just one hospitalization
occasion can ruin their financial life for good due to extremely high healthcare
costs. You will be paying for your doctor and medical expenses by customized
health insurance policies, which will keep you safe whenever you need it most. It
is even tricher if you have a disease that requires daily medical care.
The best insurance plan involves taking into account a variety of variables, such
as your income, health status and the coverage you want. The rates often differ
significantly between the different insurance firms. You will also have to spend
some time evaluating your options. You will save money on your insurance policy
in several ways and ensure that you are aware before making a final decision.
You can always rely on an insurance broker if you need help with this process, to
find the policy that meets your needs.
At some point in life, everybody gets sick or hurt. It is a human component.
Nonetheless, getting a trustworthy health insurance policy will remove the weight
of worrying you.
Health Insurance Pros & Cons
Private health insurance is becoming very complex with the higher costs of premiums and
surplus and the broad range of options and benefits, plus regulations on levies and discounts.
But we’re tackling uncertainty to show you the benefits and drawbacks of signing up to an
Australian scheme.
Pros
Personal space for the patient
Private health insurance benefits include the provision of a private space (but are typically
subject to availability). In a public hospital you also have to share the space with six other
persons with varying conditions if you are treated as a public patient. You will be provided your
own space where the child’s father or partner can stay with you if you expect a baby and are
born at a private hospital.
Choose your physician or specialist
You may choose your own physician or surgeon (usually subject to availability) in most private
health insurance plans. In most cases, you are told whoever the doctor is on the turn, as if you
were going through the public system. You will have the same physician during the pre- and
postoperative procedures in private.
Discount on private insurers
Couples and others qualifying for Medicare can also receive a government-funded discount on
their health insurance costs. You earn a discount of 20-25% of the price of your coverage in
most cases. The discount is the tested income, so the discount is subject to your annual
revenues.
Cons
The price
There are several reasons why people believe that private health insurance is not the cheapest.
The monthly cost of basic health insurance (sometimes referred to as Bronze) for one woman
aged 25 is about $89. You will also pay $750 per admission out of your pocket. The more
people and people you rely on, the more expensively the strategy is. There are also various
types of cover with typically more costly silver and gold types.
Waiting Period
This does not mean you are necessarily protected when you sign on a dotted line in your
contract. Many health insurers extend waiting times before the health insurance benefits are
accepted. Depending on practice, form of cover and health plan, the regular waiting period for
the health benefits.
Emergency of life or death
You won’t always have a choice as to who performs the operation if you have been admitted in
a life or death emergency while the ambulance is under cover. When you are rushing into
surgery, the doctor who operates on you may most of the time be who you call or who operates.
annual review process. It can be especially effective to shop for your auto insurance policy once
a year, when growing numbers of insurers use competitive pricing and analyze their customer
behavior when setting rates.
6 Effective ways to minimize insurance premiums for your homeowners
6 Effective Ways to Reduce the Cost of Your Homeowners Insurance
Save money and still keep your much-needed insurance coverage. Here are six ways to help you
save money and minimize the cost of your homeowners insurance premium.
Deductible
When you file for a claim, the deductible is the amount you are supposed to pay right off your
pocket before your insurer pitches in. If your deductible is a percentage of your property’s
insured value and not a flat rate, you might want to increase it in order to lower your overall
home insurance rate. You might also want to examine the rate differences across the various
levels of deductibles, so you can choose the most cost-effective insurance plan.
Discount
Cut corners by investigating ways to get a discounted premium. Ask your car or life insurance
company if they offer discounts should you decide on getting your home insurance from them. If
you are a senior citizen or have an excellent credit score, inquire if you are entitled to a discount.
You may be a member of a professional association and are entitled to perks in the form of
discounted premiums. Research and ask away.
Dogs, Swimming Pools, and Trampolines
Dogs, swimming pools, and trampolines can all lend a fun, easygoing atmosphere in your home.
But they can increase your insurance rate.
This does not mean foregoing having a dog as part of your household. The emotional benefits of
owning a dog can outweigh a potentially pricey premium. The good news is that there are
dog-friendly homeowners insurance companies out there.
The key is to keep your dog from biting someone. Proper training and socialization for your pet
can prevent dog bites. And don’t forget to exercise common sense: be responsible and supervise
when friends or relatives come over for a visit and mingle with your dog. When there are kids in
your home, instruct them firmly to never tease or startle the dog. For toddlers, it is best to never
leave them alone with your dog.
Depending on your insurance policy, injuries resulting from the use of trampolines may or may
not be covered. Some home insurance companies cover trampolines as long as a safety net is
installed and a fenced enclosure of a specified height surrounds it. If there’s an associated jump
in your premium, just use your discretion whether or not a backyard trampoline is worth the
liability.
Your backyard swimming pool can increase your insurance rate. If it comes with a slide and a
diving board, you can even be denied coverage. Discuss your options with the insurance company and work out how best you can lower your premium.
Disasters
It is possible to lower the cost of your premium by making steps to turn your home into a
disaster-resistant abode. Talk to your insurance agent about this. Some insurance companies trim
their premiums if storm shutters are added, the roof is reinforced, the electrical wiring system is
modernized, and the property is retrofitted against earthquakes.
Your insurer may also look more kindly and lower your premium if you install safety features in
your home. Burglar and fire alarms, deadbolts, smoke detectors, surge protectors, and high-tech
sprinkler systems can net you a discounted premium.
Claims
Your insurance is intended to help you recover fast from a major loss. If you file small claims
here and there, you are driving up your insurance rates. For minor damages whose repair costs
are something you can afford to pay on your own, think twice before making a claim.
Nonessentials
Do not waste your money on unneeded coverage. Review your floaters, if you have them in your
insurance policy. A floater is intended to insure the full value of an item typically not covered by
a standard home insurance policy. Floaters normally involve rare artworks and expensive
jewelry. If your floater is an expensive designer piece of clothing, for example, which has
depreciated in the past few years, you might want to either lower its insured value or cancel the
coverage for it.
When choosing a homeowners insurance plan, take care not to have excessive coverage for your
rebuilding cost. For instance, you don’t need to pay to have the land under your home insured
from fire, theft, or windstorm. It is a piece of ground and is not at risk from the aforementioned
hazards. Insure only the value of your house.
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Life insurance why you need it and what to look for
Life insurance is a major type of insurance that you can buy, but not everybody needs protection.
It is important to look at the reason that people have this protection before you actually decide
you need life insurance.
Purpose of life insurance coverage
The concept behind life insurance is very straightforward. Life insurance provides protection in
the event of your death for your family members. Life insurance is payable upon death, and
money can help the surviving spouse and minor children pay their bills and move on with their
lives.
The amount of life insurance you need depends on a variety of factors, including your wages,
assets and the amount your beneficiaries need to sustain their established way of living. You may
need a million dollars or more life insurance if you receive $100,000 a year and have a couple of
kids attending college. You might not need as much life insurance if you have a big nest egg, say
several million dollars. This is because the savings you are leaving behind will produce income
from your spouse and children and make them less dependent on a large life insurance payout.
If you’re young and just starting out, you may not need life insurance. Recall that life insurance
seeks solely to cover those who depend on your income. If you’re single and don’t have children,
you probably don’t even need life insurance.
The exception is if you care for an elderly parent. In this situation you would want to maintain a
$100,000-$250,000 life insurance to have the help they need once you are gone. You would also
want to look at your parents’ long-term care plans as well as life insurance coverage.
Term Life vs. Whole Life
Life insurance is a quite easy purchase, but the industry has tried to complicate things over the
years. Many insurance agents will guide you on life insurance policies that combine investment
with insurance coverage. This may sound like a clever tactic at first blush but it turns out, having
a life insurance policy and a savings nest egg can take care of all of your needs and assure that
your family and loved ones are taken care of during that time. Compared to term life coverage,
the premiums for whole life coverage can be higher, and the investments are always challenging
and often costly. Most individuals would be better off buying a term life insurance on a relatively
cheaper term than making their own savings.
For example, if your life policy costs $100 per month and you can get a similar $20 life policy,take $80 extra that you would have spent every month and put it in your 401(k) job or good
mutual fund stock. Over time, your savings account will have a lot of money and you still have
your life insurance coverage.
How much coverage for life insurance do you need
How much coverage for life insurance do you need?
How much coverage you need in life insurance would depend on your family condition, assets
and expenses. But it can be difficult to determine which amount is right for you and your family.
You can find insurance companies and authority pages that inform you individually and firmly
about how to measure. Below are three of the simple equations for determining how much
coverage to buy life insurance. Choose the one that is most appropriate for you and the needs of
your family.
The Mortgage Formula
This calculation takes into account the house mortgage and each parent ‘s current working status.
You want life insurance coverage with a parent working full-time that is two times as high as the
amount owed on a home loan. If the mortgage was $250,000, for example, for each parent who
works you want at least $500,000. When a parent passes, then the mortgage is paid and
additional cash is available.
You may only need half that to the non-working parent if one parent does no longer work outside
the house. This is $250,000 in the above case. The hope is that the surviving parent has a
full-time job which will pay for the mortgage, and extra cash out of the insurance fund is used
for day care and other child-raising expenses.
Formula for income replacement
This basic formula multiplies the gross annual income by at least 10 years, to the amount of
years before retirement. You need a policy that pays between 0.5 and 1.75 million when you die,
whether you have a $50,000 or 30 years old and decide to retire at the age of 65.
Line Item Formula
Most insurance experts say it’s the most precise calculation to write down and add any estimated
cost together, but it takes some time to determine. There is an accurate estimate of your family’s
basic costs if you die today. You need to add up the estimated expenditures such as mortgage
payments, everyday living expenses, education, childcare, medical and all other predictable
expenses for the next few decades to make this estimate.
An insurance broker can work with you on different formulas to decide how much insurance you
need. You would also need to know how much of the life insurance premiums you will pay each
month. The higher the coverage, the higher the monthly or annual fee.
Is It Cheaper To Get Cremated Or Buried
What’s Cheaper Cremation Or Burial ?
These days, the majority of people select cremations over conventional burials due to
the fact that it’s more cheaper and cost effective. Cremations are the most economical
way of caring for a loved one. Associated costs such as, visitation and funeral services
are usually avoidable when doing a cremation. The total cost of cremation is between
one and two thousand dollars and, of course, in some parts of the world you can have it
for less than $800-$900 and more in other parts of the country.
The NFDA reports funeral rates every couple of years, and the median price for a
funeral was $7,640 in 2019. For 2016, this is up from $6,560. This expense covers the
most common services requested by families from funeral homes such as embalming, a
metal casket, use of funeral home facilities for the viewing and remembrance ceremony,
and transportation of the body to the cemetery by hearse.
Many of those programs are free, such as embalming and consultation. The Federal
Trade Commission mandates funeral homes to include price sheets in person and price
quotes over the phone for all of their services; calling around to various funeral homes
in your area can often save thousands of dollars on the same services.
There are several cemeteries that allow you to buy a vault along with the grave plot. For
a plot in the cemetery and the grave opening and closing services, families can expect
to pay at least $2000. Choosing an intricate casket will add several thousand dollars to
your costs.
Can You Have An Open Casket And Then Be Cremated ?
Many people don’t know that if you chose a traditional burial or a cremation, you were
always entitled to a meaningful ceremony or life celebration for babies and allowed to
have it. You may have what we call a full cremation where the body is present for a
traditional viewing and funeral in a proper casket and you go to the crematorium instead of going to the cemetery. If the cremation takes place after a typical funeral service, you
can purchase a service casket that can act as the container for the cremation. A
container that is cremated should not have metal parts, so the container must be all
wood, fabric-covered wood or an equivalent material.
If you don’t want to buy a costly funeral service coffin, you can rent a funeral service
casket and then cremate the body into a plain cardboard container (known as a
“alternative coffin”). Most funeral homes have rental caskets available; if you intend to
rent a funeral service casket, make sure that the funeral home in which you work with
will provide you this cost saving feature.