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8 Tips to Get Health Insurance for the Best Price

6 June 2017 By admin Leave a Comment

Use these tips to shop and compare health plans for you and your family:

Tip #1: Know what coverage you already have

If you already have health insurance, review your policy’s summary of benefits and coverage or “SBC.” That’s the best way to compare key features of health plans, such as copays, deductibles, coinsurance and the estimated cost of common medical events.

Tip #2: Consider your health care needs

Think about the state of your health and how you used insurance benefits last year. That will help you shop for the right plan to get the best coverage possible for the coming year.

Tip #3: Check your physician’s plan status

Before selecting a plan, verify that your doctor and hospital of choice are included in its network of providers. If not, you’ll pay significantly more for their services.

Tip #4: Factor in all costs

The cost of a health plan includes more than just the monthly premium. Don’t forget to factor in out-of-pocket costs, such as deductibles, copays and coinsurance.

Tip #5: Consider a high-deductible health plan

Since you’re responsible for more out-of-pocket medical costs, high deductible health plans come with lower premiums. Additionally, having one makes you eligible for a health savings account (HSA), which helps you save and pay for future medical expenses on a tax-free basis.

Tip #6: Don’t wait until the last minute

Give yourself plenty of time to shop and compare plans. Waiting until the bitter end of open enrollment is a bad move because you may not get the help you need or make a bad, hasty decision. Remember that unless you experience a qualifying event (such as getting married, divorced, or having a child) you can’t change your plan until the next annual open enrollment period.

By Laura Adams

See full story at www.thestreet.com

10 Tips to Save on Car Insurance

1 June 2017 By admin Leave a Comment

Car insurance is one of the costliest purchases that consumers hope to never use. While it’s always important to buy the right coverage, it costs a lot more to insure a brand-new car than a five-, seven-, or nine-year-old model you are replacing. Here are 10 helpful tips on how to keep your premiums in line without taking on unnecessary risks.

Do an Annual Rate Check

If you’ve been with the same insurer a long time, it might be tough to beat its rates, especially if you haven’t had any claims lately. In fact, a 2014 survey by the Consumer Reports National Research Center found that only 10 percent of 19,000 ConsumerReports.org subscribers who compared premiums found that they would save money by switching insurers.

It’s easy to compare multiple insurers online, at sites such as Answer Financial, Insure.com, Insweb.com, and NetQuote. You usually won’t get an immediate quote online, but you will get email messages from agents looking for your business. Consider forming a relationship with an independent agent, who will check rates for you at a range of carriers.

Pick a Top-Rated Insurer

Saving money isn’t simply a matter of finding the lowest premium. Some insurers have lower premiums, but end up costing you more in the end by lowballing loss estimates, hassling the repair shop to cut corners, and forcing you to pay extra for original-equipment replacement parts. They might even unfairly jack up your premiums after an accident.

We surveyed 64,872 ConsumerReports.org subscribers who filed a claim between 2011 and 2014. Eighty-eight percent of them were highly satisfied with the handling of their claims. Among the highest-rated groups were USAA, Amica, and NJM, with overall satisfaction scores of 90 or higher.

By Jon Linkov

See full story at www.consumerreports.org

5 enduring healthcare insurance tips for consumers

30 May 2017 By admin Leave a Comment

Unfortunately, knowing whether your provider is in or out of network can be difficult. According to a recent New York Times article, insurance plan directories of providers are often inaccurate and out of date. Doctors may be listed who are no longer accepting new patients or participating in the network. To add to the confusion, a single insurer may offer different plans with similar names but different networks.

Here are the five tips that may make your healthcare journey easier:

Make sure you know whether your provider is in network or out of network. Check with both your provider and your plan. Check your plan documents to be sure that you name your plan correctly when making inquiries. Remember: Out-of-network doctors such as radiologists and anesthesiologists may be involved in your care even if your hospital is in network. Make sure to ask before your appointment or procedure whether all doctors caring for you are in network.
If you are going out of network voluntarily, understand how your out-of-pocket expenses will be calculated. You will almost always pay more than you would in network, but how much more will vary according to your plan.
If you receive a “surprise” out-of-network bill for emergency care or otherwise, determine whether your state law protects consumers and whether it limits your responsibility to the in-network amount.
Understand that you can talk with your providers about out-of-network fees. Try to negotiate costs by comparing your provider’s’ fees with the typical local charges for specific procedures.
Familiarize yourself with the key terms and principles of health insurance so that you can be a better advocate for yourself as you navigate the healthcare system.

BY ROBIN GELBURD

See full story thehill.com

How to Know If Your Credit Card Insurance Will Cover a Rental Car

23 May 2017 By admin Leave a Comment

Does your credit card cover your rental car? There’s really only one way to know: find your card-member agreement and read it. If it’s not in the fine print, you’re not covered. Also, call your personal auto insurance company in advance to see if your plan will cover rentals. In most cases, you’ll have enough coverage between your credit card insurance and your personal policy. But there are a few “gotchas” to look for.

1. You must use the card to rent the car and decline the rental company’s insurance at the counter.

2. Credit cards generally provide secondary insurance, meaning they pay costs above what your personal policy covers. But some cards (Chase Sapphire Preferred, for example) offer primary rental-car insurance as well.

3. Most credit cards don’t cover liability. You have to buy that separately from your car-rental company or receive it through your personal policy.

4. Some specialty vehicles, like exotic cars, vans, or trucks, may not be covered under your policy. Car-sharing services like Turo or Zipcar are generally not covered by your card.

5. Your coverage may not work outside the country. Rentals in Israel, Ireland, and Jamaica, for example, are not covered by most major credit cards, and you’ll need to purchase a separate policy when you rent a car in those countries.

By Christopher Elliott

See full story www.travelandleisure.com

Five tips to cut down on your car insurance costs

18 May 2017 By admin Leave a Comment

Because car insurance is mandatory in Singapore, a large numbers of car owners consider it a necessary expense and do not give much thought to how much they are paying for it. This is especially the case because you cannot do much to reduce the annual car insurance premium that charged by insurance companies. Insurers use an extensive set of data about the claims and accidents to calculate how much they will have to pay for claims and what insurance premium they can charge. For example, people over the age of 30 have fewer accidents than younger individuals. Similarly, they are aware that women tend to be safer drivers than men. Therefore, men below the age of 30 fall into the highest risk category and are required to pay greater premiums.

Despite these classifications, there are still a number of ways to reduce your car insurance costs. Here are some of the ways in which you can save thousand dollars or more every year on your car insurance.

1. Shop around for the best rates

Most car buyers in Singapore choose to purchase a car insurance policy through their dealer. Since not doing so comes with a penalty fee, it may make some economic sense to do so for the first year. However, these policies sold by car dealers typically cost S$3,000 or more, compared to the average cost of around S$2,000 for most car insurance products in Singapore. Given this, you should always try to shop around for a cheaper car insurance policy online when it’s time to renew your car insurance. According to ValuePenguin’s calculations, you could save S$1,000 or more by switching to a cheaper option.

2. A private settlement could be preferable for a minor accident

If you get into an accident that does not result in much damage to your car, it may be better to opt for a “private settlement.” Let’s assume you just got in a collision with another car and both vehicles suffer damage that would cost just a few hundred dollars to repair. If you decide to mutually settle the matter, it could save both of you the trouble of approaching your insurance companies for compensation.

By ValuePenguin

See full story at www.theonlinecitizen.com

Car insurance costs and money-saving tips

16 May 2017 By admin Leave a Comment

money saving

You’ve probably figured out that the world of car insurance is — well, let’s just say it’s complex. When you apply for insurance, a company is going to look at many factors.

Type of car: Generally, the more expensive the car, the more you pay for car insurance.

Location: Because of the higher frequency of issues like theft, accidents, and vandalism, urban drivers may pay more than those in rural areas.

How much the car is driven: People who drive a lot for work or commute a long distance usually pay more than those who drive less.

Age, sex and marital status: Accident rates are generally higher for drivers under 25, especially men, which often means higher insurance prices. Married drivers may pay less.

Driving record: Drivers with poor driving records usually pay more for insurance than people who have been accident-free for several years.

Coverages: Insurance policies consist of a variety of coverages. Generally, the more coverage you buy, the higher the cost.

Credit history: Certain credit information has been shown to be a very effective predictor of future insurance claims. In most states, credit information is one factor used to determine the cost of your car. Maintaining good credit may save you money on your car insurance.

Deductible: A deductible is the part of a loss that you’ve agreed to pay with your own money. Generally, the higher the deductible, the lower your premium.

How can I save money?: There are several things you can do to try saving money on car insurance:

Buy a cheaper car. Generally, the more expensive the car, the more expensive it is to insure.

Do your safety research. Insurers often increase premiums for cars that are a greater risk for damage or occupant injury.

Ask about discount. Typical discounts include those for good students, insuring multiple vehicles, accident-free driving and more.

Drive less. Consider joining a car pool, or take alternate transportation when possible. Mileage reduction may help lower your premiums.

Drive carefully. Insurers love a clean driving record.

Consider multi-line. Many insurers will offer discounts if you use them for multiple policies.

Note: Car insurance premiums are determined based on state-approved rating factors.

See full story at www.marshallindependent.com

The Good Earth – Insurance should be top of mind

9 May 2017 By admin Leave a Comment

Although this is a gardening column, we can’t always keep stuffing our snoots into fragrant blooms and call that gardening. Not all fragrances are pleasant.

It is so easy to get caught up in the visioning that you forget to see some of the practicalities. Many folks, especially those of you who are legitimately capable when it comes to planning out a renovation, take on the mantle of general contractor, and hire various companies to handle the work as necessary. That is all well and good, but did you check with your home insurance provider? Oh, and did you remember to purchase General Liability Insurance and register with the Workplace Safety and Insurance Board (WSIB)? Do you realize that if you hire ABK Landscaping (an uninsured fictitious company), you are responsible for all of their activities including their work, damages to others, and any health claims ABK’s employees might file against you?

Recently, it was my distinct pleasure to have spent some time as an instructor in the current Horticultural Apprenticeship Course. A portion of the course covered some of the regulations, acts and by-laws by which their landscape businesses must operate. There are reasons for these compliance requirements and all professional companies will be on board with them. The list is more than impressive, it is staggering. One business owner quipped that he needs two trucks at every job site; one for tools and workers and the second transports the paperwork.

However, that’s their problem not yours- unless you make it so, however unintentionally. GR, make sure you do your homework before you hire someone to work on your property, in whatever capacity.

Here are some considerations taken from the Canada Mortgage and Housing Corporation Fact Sheet- Hiring A Contractor.

You want to find out as much as you can, so ask a lot of questions, such as:

How long have you been in business?

What work are you, or your subcontractors, licensed to do, e.g., electrical, plumbing?

What kind of work do you specialize in? Have you done a similar job before?

Will you use your own crew for the work or will you subcontract all or part of the job?

By Dan Clost

See full story at www.insidebelleville.com

Marital Status Can Have a Big Impact on Your Auto Insurance Prices!

4 May 2017 By admin Leave a Comment

Drivers have to be aware that they can always influence their auto insurance prices. The algorithm agencies use to determine coverage costs rely a lot on the driver’s experience and vehicle. In short, every decision a car owner makes can have an impact on coverage premiums. Even the marital status can be decisive for lower coverage premiums.

The marital status is the last thing drivers think of when calculating their auto insurance, but studies show that it can make a big difference. Married drivers are considered safer to insure and agencies offer them better rates. The logic behind this is that married drivers have a responsibility towards their family and will tend to be more careful in traffic.

When it comes to age and gender, agencies know two things for sure: young men are more likely to cause an accident. This puts customers in this demographic in a risk category and they will have to pay more for premiums. This applies to young single males who are under 25 years old. On the other hand, men’s rates get better with age, while older women may pay more than their counterparts, however the difference is not something to worry about.

How to find auto insurance for single men?

Auto insurance quotes can help single men find better auto insurance offers. By comparing online auto insurance quotes, drivers will enjoy a speedy and convenient shopping process. They will be able to find the cheapest plans in their area, without having to worry about frauds and security issues.

By PR Newswire

See full story at finance.yahoo.com

A happy homecoming – choose the right insurance

2 May 2017 By admin Leave a Comment

We think you’ll agree that a house is not just a house; it’s a home and is made up of so much more than the four walls. So you’ll be surprised to learn that according to the Australian Bureau of Statistics, about 1.8 million Australian households have no house and contents insurance – that is 23 per cent of all Australian homes. Sometimes things happen in our lives that are not in our control – think damage from natural disasters like storms and bush fires.

It’s always a good idea to prepare for the worst and protect yourself against these incidences that are all too common in Australia with a home and contents insurance. With Home and Contents Insurance, you can tailor your home insurance to suit your unique needs and budget so you can enjoy the peace of mind in knowing that the things you hold near and dear are protected. Ahead of choosing a new policy (or if you’re considering changing policies) here’s what you need to know:

What do you want covered?

Home and content insurance are actually two different products. You can buy insurance for just your building, or just for your contents (belongings in your home). You can also combine both.

Building: Protects the house and its fixtures. If the building is damaged or destroyed, this should cover the cost of repair or replacement. This is essential for homeowners but not renters as this is the landlord’s responsibility.

What are the types of cover available?

There are generally two different cover available:

Defined events (also called insured events): All policies will offer you cover if your property is damaged or destroyed by events like: fire, theft, storm, explosions, flood, earthquake, tsunami, storms, lightning strike, vandalism, or water damage from burst plumbing. Any event not mentioned on your policy is not covered.

Accidental damage: On top of defined events, some policies will cover you if your home or contents are damaged by accident. This is a more comprehensive cover option as it insures a much wider range of circumstances.

Sum-insured cover: provides for rebuilding, repairing or replacing a damaged home or its contents at their replacement value. It is your responsibility to nominate a sum insured that is sufficient to replace them. For your home this includes any improvements to the home that may contribute to the costs of rebuilding, and any additional costs associated with rebuilding, such as site works and access restrictions. The services of a professional valuer or building contractor may assist you to determine your home rebuilding cost.

Many policies also offer a safety net option in case you under-insure your home and contents. A safety net policy will pay a specified percentage above the sum insured amount.

See full story at www.bendigoadvertiser.com.au

The millennial way to find the right insurance

27 April 2017 By admin Leave a Comment

Paucity of time and lack of information often lead us to take risky financial decisions. Here’s a savvy and quick way to make your insurance decisions for the upcoming financial year.

Insurance policies, fixed deposits, provident fund schemes and more such terms are a part of our growing up years.

All of us have grown up listening to endless discussions on which deposit gives the best returns and which insurance policy works best for the family.
As an intelligent adult who is new in the job market, it’s difficult to understand the concept of investing in something that may not give immediate returns. Besides, the task of identifying the right policy is daunting enough to keep us away from it.

To start with, what does life insurance do for us?

Not just the job market, life in general is uncertain. A life insurance ensures that the dependents are taken care of in case of the death of the policy holder or the bread winner of the family.

There are options where the sum assured is given to the policy holder at the end of term or after death to the beneficiaries. There are other options where a portion of sum assured is given during the term in parts on a set frequency. Some insurance policies also offer a unit linked plan that serve the purpose for investment and security.

See full story at economictimes.indiatimes.com

Insurance Agency Singapore | Commercial Insurance and Personal Insurance