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Thursday, August 19, 2010

Thursday, April 22, 2010

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 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.

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.

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 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.

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 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.

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 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.
 

Monday, March 22, 2010

Do You Feel Lost When Comes To Auto Insurance Renewal?


Do You Feel Lost When Comes To Auto Insurance Renewal?
When your insurance policy comes up for renewal, you will often realize that because your situation has changed, your insurance should too, but you might be a loss as how to effectively do this. When you are looking to make sure that your insurance suits your needs, you will of course want to look around for the best insurance rates and to see what the best auto insurance quotes have to offer, but there are plenty of things that you can do in order to make sure that your new policy reflects the coverage you need.

The first thing that you will need to think about is your payment options. Take some time to really think about what you can budget. If possible, pay off your payments in yearly or biannual basis. This will allow your premium to sink lower. While monthly payments are easy and may seem more affordable at the outset, you will find out that you will need to pay less money overall if you simply get the premium payment out of the way as soon as you can.

When you are looking for changes to make that will reduce your auto insurance, keep in mind that you can do a lot of good by authorizing an electronic funds transfer, often abbreviated to EFT. There is no change on how much you pay, but you'll find that that by choosing this option that you will also attract lower premiums by freeing up the insurance company from doing things that are associated with the processing of checks and the mailing of reminders.

Similarly, think about what your automobile situation is like. You'll find that simply figuring out what car you are driving, how much it has depreciated in value, and what you are likely to receive in a worst case collision scenario that you will find out what you really need. While you should always get the fullest coverage that you can afford, you might find that there are options that the insurance company can give you when it comes to figuring out what your policy should look like.

Remember that location will also pay a part in it. If you have moved, figure out whether your new neighborhood is one that the insurance company considers safer. If so, this is a great way to get your rates lowered. The same goes for if you have moved into a space with a garage. You'll find that the more coverage and protection that you can give your car, the better your premiums will be.

When it comes time to renew your auto insurance, don't just go with the most convenient plan. Take some time to really think about what the situation is, and what might have changed!

Friday, March 19, 2010

Auto Insurance Coverage

Auto Insurance Coverage
 Auto insurance is required virtually everywhere in the United States. 48 states require at least a minimum amount of car insurance. Wisconsin and New Hampshire are the two exceptions. However, all jurisdictions require financial responsibility when you operate a vehicle on roadways. This means if you get into an accident you will be financially responsible, whether you have insurance or not.
Minimum requirements vary greatly from state to state. Laws change frequently and it is up to you, the driver, to know and understand the laws in the state you are driving. For a breakdown of the minimum requirements on a state-by-state basis,
Auto insurance incorporates the following basic components. These components are not required in every state (some components are optional):

LIABILITY
Liability is for accidental bodily injury and property damage done to yourself, passengers, and third parties. Injury damages include medical expenses, loss of income, and pain and suffering incurred as a result of your negligence. Property damages include damage done to other vehicles or personal property. Liability coverage also includes defense and court costs. Most states have a minimum amount of liability coverage that you must carry in order to operate a vehicle on a roadway. You are always free (and often advised) to carry coverage above the state minimums.

COLLISION
Collision coverage pays for damage done to your vehicle that is the result of an accident. Without collision coverage you will not receive any reimbursement from your insurance company for any damage done to your vehicle, no matter who is at fault. Depending upon the laws of your jurisdiction, you may be able to sue another party for damages, but you will not be able to collect for damages from your insurance company unless you carry collision coverage.

COMPREHENSIVE
Comprehensive coverage pays for loss (usually fire or theft) or damage done to an insured vehicle that is not the result of an accident. An example of non-accident damage is damage done to your vehicle by hail. Basically, whenever your vehicle is parked and not being operated, it is covered under comprehensive coverage.

MEDICAL COVERAGE
Medical coverage pays for medical expenses incurred on behalf of the driver and all passengers as a result of an accident, regardless of fault. This coverage is now mandatory in many states. However, you can usually get an exemption if you provide proof of traditional medical coverage.

PERSONAL INJURY PROTECTION
Personal injury protection is similar to medical coverage, except that it covers only the insured driver.
UNINSURED MOTORIST
Uninsured motorist coverage pays for damages done to your vehicle by another driver, that is the result of an accident, when the other driver does not have liability insurance.

UNDERINSURED MOTORIST
Underinsured motorist coverage pays for excess damages done to your vehicle by another driver, that is the result of an accident, when the other driver has insufficient liability coverage.

RENTAL REIMBURSEMENT
Rental reimbursement coverage will pay you for the costs incurred for the use of a rental car while your vehicle is being repaired, due to a covered accident.

Tuesday, February 16, 2010

Comprehensive Car Insurance - there’s no worry



From running the kids to school and doing the shopping, to cruising the beautiful Queensland coast – your car is vital for every day life. That’s why we’ve made comprehensive car insurance in Queensland simple, so you can concentrate on the road, and not worry about what’s around the next corner.

With NRMA Comprehensive Car Insurance you’ll get comprehensive insurance cover for your car, at the best possible price. You’ll also enjoy hassle-free paperless insurance claims, as well as a range of great discounts and other benefits. Get a Comprehensive Car Insurance online today and unworry
    Comprehensive Plus Insurance - Don’t get yourself into a spin
 
With such a busy life, you’re bound to hit the odd patch of rough road. But there’s no need to hit the brakes. We’ve created NRMA Comprehensive Plus Insurance to take the worry out of being on the road.




Our Comprehensive Plus Insurance offers all the features and benefits of Comprehensive Car Insurance, but you’ll also enjoy extra services like our dedicated claims service, extended hire car cover and taxi cover, and our specialist Helpline to help you stay on track. So you can relax and enjoy the ride no matter what’s round the next bend. Get a  Comprehensive Plus Insurance online today and unworry.
       Third Party Fire & Theft Insurance
Insurance - Disaster bites the dust
 
             
Even if you choose not to take out Comprehensive Car Insurance, it doesn’t mean you have to worry about worst-case scenarios.



We’ve designed our Third Party Fire & Theft Car Insurance policy to look after you and your car if disaster does strike, so you can relax and enjoy your journey. Get a Third Party Fire & Theft Insurance online today and unworry.

Wednesday, February 10, 2010

Basis of auto insurance premium charges

Basis of auto insurance premium chargesYou probably know that the premium you are charged by an auto insurance company aren't fixed prices and are based on a whole set of factors influencing how much you will pay for auto insurance coverage next year. Most of you have observed that the premium can change each year, especially if you had an insurance claim, speeding ticket or an accident with your insured vehicle. In order to keep the rates down and get the most out of your insurance without spending too much money, you will have to learn the primary factors affecting your premiums and learn how to use them in order to cut down your insurance costs.


The first and foremost factor defining your insurance rates is of course the car you want to insure. The model, make, age, engine volume, overall mileage, safety rating and security features of your car all contribute in a large part to what you will be paying. Auto insurance companies have special charts and ratings, assigning each car with a risk value. The higher the risk the more you will have to pay. In order to cut down insurance costs on this factor you will have to choose a less risky car. Medium sized family sedans are considered to be the best choice for that. But if you want to drive your SUV, luxury or a fast sports car, be prepared to pay much more.

Your driving record is another factor that will influence your rates. This document contains all your activity is as a driver. If you get a traffic violation ticket or take part in an accident (no mater at fault or not) this will be introduced to your driving record. And the cleaner it is, the lower a risk you are considered by the auto insurance provider. This means a lower premium. If you have many notes in your driving record, a good way to improve the situation is enter a driving school or joining an auto club. Take a course of defensive driving and make sure to get a certificate. This will earn you a discount with your insurance provider that will help you eliminate the negative effects of a bad driving record.

Another important factor that may surprise and upset many drivers out there is the age and sex group they make part of. Young male drivers are the most unlucky here, because they are typically charged with the highest rates. This is because this group of population has the highest number of insurance claims and more accidents than other age and sex groups. So if you are a young driver and feel that your auto insurance premiums are too high, there are several things you can do. If you are a good student, you can opt for a special discount. You can also take a safe driving course, or join an auto club for a discount. Your parents can include you into their auto insurance policy if you are a teen.

insurance at low cost

The most competitive offers from top auto insurance providersAuto insurance can turn into a costly item of your family budget, especially if you live in an area with high insurance costs. And taking that insurance is getting more and more expensive every year, finding a good auto insurance policy with reasonable rates has become an important goal for many drivers out there. Some believe that it is very hard to find a cheap policy, and they are partially right.


However, if you know where to look and how to shop around, you can find really great auto insurance deals that will help you save up to hundreds of dollars in premiums each year. And we have just what you need to find such a policy right here on our site. You will be able to find the most competitive offers from top auto insurance providers in your area. All it takes is just using the tools we have here and learning how you can cut down your auto insurance quotes. If you succeed with that, you'll definitely be surprised how cheap auto insurance can be.
             Get autoinsurance and drive safely
Auto insurance is mandatory in most states, however the evolution of insurance costs in the recent years makes more and more people think of driving with no auto insurance at all. Such practice is not only unlawful but also poses a great risk for your budget that you want to protect. If anything happens on the road and you have no auto insurance then you will have to pay out of pocket. Can you cover injury, damage or legal costs that can account hundreds of thousands of dollars? If yes, getting an auto insurance policy won't be a big problem with such an income. If no, you risk of losing not only your car, your savings, but other valuable assets such as your home too. Are you ready to take such a risk? Protect your vehicle, your family and your valuables, get auto insurance and drive safely.

Tuesday, January 19, 2010

10 Steps to Buying Auto Insurance


10 Steps to Buying Auto Insurance

Introduction
The following simple steps will help you determine how much car insurance you need to carry. And it will also help you get the best coverage at the lowest price. If you are confused about any of the terms we use, be sure to review the glossary in "Little-Known but Important Insurance Issues."

Step 1: Starting Out
When it comes to auto insurance, you want to be adequately covered if you get in an accident but you don't want to pay any more than you have to. So how can you navigate your way through this murky subject?

Keep telling yourself there is money to be saved. How much? Hundreds, even thousands, per year. For example, one of our editors typed all of his insurance information into a comparative insurance service. The quotes (for very basic coverage on two old cars) ranged from $1,006 to $1,807 — a difference of $801 a year. If you're currently dumping thousands into your insurance company's coffers because of a couple of tickets, an accident or a questionable credit rating, shopping your policy against others may be well worth the effort.

Look at it this way — you can convert the money you save into the purchase of something you've desired for a long time. Hold that goal in your mind.


Step 2: How Much Coverage Do You Need?
To find the right auto insurance, start by figuring out the amount of coverage you need. This varies from state to state. So take a moment to find out what coverage is required where you live. Make a list of the different types of coverage and then return for the next step. (You will find a list of each state's requirements and an explanation of the various types of insurance in "How Much Auto Insurance Do You Really Need?" Also, check out "Little-Known but Important Insurance Issues" as it has a glossary of basic insurance terminology.)

Now that you know what is required, you can decide what you need in addition. Some people are quite cautious. They base their lives on worst-case scenarios. Insurance companies love these people. That's because insurance companies know what your chances are of being in an accident, and how likely it is for your car to be damaged or stolen. The information the insurance company has collected over previous decades is crunched into "actuarial tables" that give insurance adjustors a quick look at the probability of just about any occurrence.

So how much insurance should you buy beyond your state's minimum?

Experts recommend that if you have a lot of assets you should get enough liability coverage to protect them. For instance, if you purchase $50,000 of bodily injury liability coverage but have $100,000 in assets, attorneys could go after your treasures in the event of an accident in which you're at fault and the other party's medical bills exceed $50,000.

General recommendations for liability limits are $50,000 bodily injury liability for one person injured in an accident, $100,000 for all people injured in an accident and $25,000 property damage liability (that is, 50/100/25) given that half of the cars on the road are worth more than $20,000. Here again, though, let your financial situation be your guide. If you have no assets, don't buy excess coverage.

Another issue to consider is that the limits of any uninsured and/or underinsured motorist coverage that you purchase cannot exceed the limits of your liability coverage. Such coverage, he said, can be valuable, as it will cover lost income if you're out of work for several months after being injured in a major accident.

Your driving habits may also be a consideration. If your past is filled with crumpled fenders, if you have a lead foot or a long commute on a treacherous winding road, then you should get more comprehensive coverage. Keep in mind that you don't have to buy collision and comprehensive coverage. If your vehicle is older, if you have a good driving record and if there is a low likelihood that it would be totaled in an accident, but a high likelihood of it being stolen, you could buy comprehensive but not collision.


Step 3: Review Your Driving Record and Current Insurance Policy
Before you begin shopping for insurance you should check the following: the status of your driving record, your current coverage and the premiums you are paying.

You should know how many tickets you have had recently. But time plays tricks and our memories repress painful incidents. If you can't remember how long that speeding ticket has been on your record, check with your state's DMV. If your record will soon improve, and the points you earned will finally disappear, wait until that happens before you get quotes. Nothing drives up the price of insurance like a bad driving record.

Also, you should contact your auto insurance company or pull out a recent bill. Jot down the amount of coverage you have and what you are paying for it. Take note of the yearly and monthly cost of your insurance since many of your quotes will be given both ways. Now you have a figure in mind to try to beat.

Step 4: Solicit Competitive Quotes
Now that you have made several practical and philosophical decisions, it's time to start shopping. Begin by setting aside about an hour for this task. Bring all your records — your current insurance policy, your driver license number and your vehicle registration. Drink plenty of coffee. Have a phone at your elbow. And, of course, power up your computer.

Begin with the online services. If you go to InsWeb.com or other online insurance quote sites, you can type in your information and get a list of comparative quotes. These forms take about 15 minutes to complete. If this bores you, just remind yourself how much you will be saving and that you can use the money to buy something nice for yourself. If the entire shopping process takes you two hours to complete and you save $800, you're effectively earning $400 an hour.

A few things to keep in mind: 1) When you use quote sites, you may not get instant quotes. Some companies may contact you later by e-mail, and some that are not "direct providers" may put you in touch with a local agent, who will then calculate a quote for you. (A "direct provider," like Geico, sells an insurance policy to you directly; other companies like State Farm sell insurance through local agents. We'll discuss the pros and cons of each later.) 2) It's not easy to get quotes from these sites in all states — if you live in New Jersey, for instance, you'll probably find it faster to pick up the phone, since most insurers in this state currently don't provide online quotes.

You can also try getting quotes from some of the insurance companies listed on the Edmunds.com Web site — Liberty Mutual, Geico or Progressive. These forms will take about 10 minutes each to complete.

Step 5: Record and Compare Quotes
While you're researching companies, make notes in a separate computer file or on a piece of paper divided into categories. This will keep you from duplicating your efforts. When you visit the different online insurance sites, you should take note of several things:

  • Annual and monthly rates for the different types of coverage — make sure to keep the coverage limits the same so that you can make "apples-to-apples" comparisons
  • An 800 number to call for questions you can't get answered online
  • The insurance company's payment policy (When is your payment due? What happens if you're late in making a payment?)
  • Discounts offered by the insurance company that pertain to you
  • The insurance company's consumer complaint ratio from your state's department of insurance Web site (more on this later)
  • The insurance company's A.M. Best and Standard & Poor's ratings (more on this later)
Step 6: Work the Phones
Once you have exhausted your online options, it's time to work the phones. Those companies you haven't been able to get an online quote from should be contacted. At times, doing this process verbally can actually go faster than the online counterpart, providing you have all the information regarding your driver license and vehicle registration close at hand. When you get a quote, be sure to confirm the price. Also, ask them to fax or e-mail the quote to you as a record.

Step 7: Look for Discounts
While talking to the insurance companies' telephone salespeople, make sure you explore all options relating to discounts. Insurance companies give discounts for a good driving record, favorable credit score, safety equipment (for example, antilock brakes), certain occupations or professional affiliations and more. For more guidance in this area, check out "How to Save Money on Auto Insurance."

Step 8: Choosing the Right Insurance Company
You now have most of the information in front of you that you need to make a decision. However, there is something more to consider. You can clearly see which company is least expensive, but when you need them to cover a claim, what kind of job will they do? To put it another way, which is the most reliable insurance company?

Below, we offer a number of issues to guide your thinking and help you reach a decision:

  1. Visit your state's department of insurance and check consumer complaint ratios and basic rate comparison surveys.
  2. Get in touch with local body shops or dealerships you trust and ask which insurance companies they recommend.
  3. Consider contacting an insurance agent for additional information about a particular company.
  4. Check out the financial strength ratings for an insurance company by referring to the A.M. Best and Standard & Poor's ratings.
  5. Look over J.D. Power and Associates' consumer satisfaction surveys reviewing auto insurance companies.
Step 9: Review the Policy Before You Sign
So, you've done your research, and you've decided on a company. Before you sign, though, read the policy. In addition to verifying that it contains the coverage you want, there are two clauses that you should look for in the contract:

  1. Retain your right to sue. "Find out if you are giving up your right to go to court and will be forced into arbitration if there is a disagreement [between you and the insurance company]," one expert advised. "You're much better off if you don't give up this right…. It makes it easier for [insurers] to take advantage of you." If you find a clause to this effect, all isn't necessarily lost. "At least in theory, a contract is a mutual agreement, so you should be able to cross out that line in the policy," he said. If the company won't agree to the policy sans clause, then you should probably take your business elsewhere.

  1. Avoid aftermarket parts requirements. If an insurance company has written in the policy that "new factory," "like kind and quality" or "aftermarket parts" may be used for body shop repairs, go to another company, one expert advised. If you own a relatively new car that you plan to keep for a while, you will probably be much happier if you spend a little more time researching companies on the front end rather than try to fight the company when you have a claim.
Step 10: Cancel Your Old Policy
After you lock in the insurance policy you want with the company you select, you have two more things to do. The first is to cancel coverage with your existing insurance company. Second, if your state requires you to carry proof of insurance, make sure you either have it in your wallet or the glove compartment of your car (some experts discourage this, however — if your car is stolen, the thief has everything he needs to prove the vehicle is his).
Now, there's one last thing to do: reward yourself for saving so much money on car insurance.


Friday, January 15, 2010

Car Insurance Deductibles

Car Insurance Deductibles

Purchasing auto insurance is not simply about the value of your car or how often you get into accidents, it is also about how much money you are willing to pay for your coverage. All auto insurance policies have a deductible. The deductible is the part of your policy that you are responsible for paying. Auto insurance policies don't simply take care of all necessary expenses. You are required to pay for some of the damages, but the amount depends on your policy. Deductibles vary by state, but are most often in amounts of $100, $250, $500 or $1,000. For example, if you are in an accident that causes $2,500 worth of damage and your deductible is $500, you are required to pay the $500 and the insurance company will take care of the remaining $2,000.

When deciding what insurance policy you want to purchase, choosing a deductible is an important step. After all, you will have to pay the deductible for each and every situation in which you require your insurance company to cover damages. Deciding how much you are willing to pay and how often you think you will need to make an insurance claim will help you decide what deductible amount is right for you. In addition, the premium you pay, or the price of your total coverage annually, can be lowered by choosing a higher deductible. In other words, if you are willing to pay higher out-of-pocket costs, you can lower the total cost of your insurance.

Purchasing an auto insurance policy doesn't have to be confusing. You want a policy to take care of your expenses in the event of accident, theft, vandalism or most any other instance in which there is damage to your own or someone else's vehicle. By knowing what your state requires, what your needs are, what discounts you qualify for and how much coverage you want for your car, you will be able to choose the right policy.

Thursday, January 7, 2010

The price of autoinsurance

The Price of Auto Insurance

There are several factors that affect the pric

e of auto insurance. Of course, prices vary by company and you should compare prices thoroughly before you purchase a policy. The first thing that affects your policy's price is, of course, what kind of car you drive. For instance, a sports car costs more to insure than a family sedan. If you purchase a vehicle that has a high theft rate

, your coverage will probably be more expensive. Essentially, though, your coverage will be based on the value of your car.

Another factor that affects auto insurance costs is where you live. If you live in an area where there is a high occurrence of accidents or vandalism, insurance will cost more money. For instance, since more cars are damaged in urban areas than in rural areas, you will probably pay more for insurance if you live in a city.

How often you drive will also affect your insurance costs. The more you drive, the higher the chances you will be an accident. Drivers who have long-distance commutes will pay more than people who live near their workplace. Meanwhile, if you only use your car on weekends, your insurance rates should be lower than someone who commutes to work daily.

The final factors that affect the price of auto insurance have to do with who you are. Your age, sex, marital status and driving record are all taken into account when you buy an insurance policy. Accident rates are higher for drivers under the age of 25, so if you are young, expect to pay a little more. Also, accident rates are higher for young males and single males. It doesn't seem fair, but if you are an unmarried 19-year-old male, your insurance rates will definitely be affected. If your driving record is impeccable, though, your rates will be lower. Obviously, drivers who are prone to traffic violations or accidents will have to pay more for insurance than safe drivers.

If these cost factors are beginning to scare you, don't worry. There are several ways to keep your insurance rates down.

There are four main factors that can keep auto insurance rates down. See if you fall into any of the following categories. If you do, you may be able to save money on your car insurance regardless of the value of your automobile.

  1. If you are looking to buy a car, consider buying a car that "looks good" to insurance companies. For instance, insurance companies know what kinds of cars are prone to problems. They also know what kinds of cars are most often stolen. If you haven't purchased your car yet, find out what cars make this "good list" among auto insurers.
  2. Most insurance companies offer discounts for a variety of reasons - for example, good students, having more than one car insured and accident-free driving are all worth a discount. Ask insurance companies about specific discounts that may be available to you.
  3. Consider carpooling or using public transportation to get to work. The less you use your car, the less your insurance will cost you.
  4. Finally, drive carefully! Insurance companies are not happy to insure accident-prone drivers, so the safer you drive, the less you will have to pay for auto insurance.

Remember, don't be afraid to ask your insurance company about any discounts they offer - it could save you a little cash.