Shopping for car insurance quotes has become infinitely easier over the past few years. These days, it only takes a moment to fill out one online application and instantly receive competing quotes from multiple companies. It sure beats the days of shopping with the Yellow Pages and a telephone! But before you fire up your favorite browser and start shopping for car insurance, there are ten tips you want to keep in mind. Some are easy, some a bit harder, but all are designed to help you get the lowest possible car insurance rates.
1. Pull a copy of your credit report. Did you know that some insurance companies use your credit rating as one of the ways of determining your insurance premium? They apparently believe that responsible bill payers also make for responsible drivers. So pay those bills on time, or take a few months to clean up your credit before shopping for car insurance quotes.
2. Park your car in a garage. Cars kept in a garage are less likely to be stolen or vandalized. Makes sense, doesn't it? The insurance companies think so.
3. Start taking the bus to work. By parking your car in a garage, and then leaving it there, you may be able to reduce your miles driven to less than 7,500 annually. You may then qualify for a low-mileage discount on your insurance. So think green, save green.
4. Trade in the red sports car for a blue sedan. Did you know that the Highway Loss Data Institute keeps statistics on the makes and models of cars that are involved in accidents? Your insurance company will most likely apply this data to the make and model of your vehicle. It your car is determined to be more likely to be in an accident, more likely to be vandalized or more expensive to repair than the average vehicle, you can expect to pay a higher insurance premium.
5. Load up on safety features. Once you have that blue sedan, make sure you have installed every possible safety feature. As the number of safety features goes up, your insurance rate goes down. So install those anti-lock brakes, airbags and automatic seatbelts. You will increase the safety of yourself and your passengers while shrinking your insurance bill.
6. Don't be shy. This is the time to ask about any and all discounts for which you might qualify. Do you participate in a car pool to work? Make it known on your application. Do you have more than one vehicle to insure? A boat? A motorcycle? Be sure to ask for a multiple vehicle discount. Own a house? The insurance companies will love to give you a quote for homeowner's insurance along with your car insurance quote -- at a discount, of course.
7. Raise your deductible. Yes, you have heard it before, but the higher your deductible, the lower your insurance premiums. If you have not yet bitten the bullet and done it, now is the time to jack that deductible to nosebleed heights. Even if you have to make an insurance claim and pay it, the higher deductible is still likely to save you money over the course of several years.
8. Don't let your policy expire. Once your policy has lapsed, you will lose your discount for continuous coverage. If you are planning to quit your current insurer, make sure you maintain coverage while you are shopping around.
9. Pay your entire bill upfront. While it can take a bite out of your bank account to pay a full year of premiums upfront, it will save you money to do so. When you make monthly insurance payments, you are effectively asking your insurance company to finance your premiums, and you can expect to pay finance fees each and every month.
10. Move. Yes, it is a drastic suggestion, but one that can have a dramatic effect on your car insurance rates. Living in the city increases the odds of accidents, vandalism and theft of your vehicle. The insurance companies know this and charge accordingly. So this might just be the time to de-stress your life and move to the country, increasing your quality of living while decreasing your cost of living. After you have applied as many of these tips as possible, you will be ready to start shopping for car insurance quotes. You can do yourself one last favor by ditching the telephone and doing your shopping online.
About The Author:
Barb Dearing is a writer who specializes in topics that help consumers save money. She recommends the following website for consumers who are ready to start shopping for free car insurance quotes.
Monday, 6 July 2009
Questions You Should Ask Yourself Before You Purchase Health Insurance
How do you go about choosing the right health insurance plan? There are a number of things you want to take into account before buying.
How many times do you visit a doctor every year?
What is your current health status?
Do you want catastrophic protection only?
Do you want doctor office visit co-pays offered before your deductible?
Would you like prescription drug co-pays?
How much of a monthly premium can you afford?
Are you someone that visits the doctor frequently? If yes, then you will benefit from having the office visit co-pay before having to satisfy your deductible. Without co-pays the visit could potentially cost anywhere from $85 to $150 for a sickness checkup. With a co-pay plan you will pay anywhere from $10 to $50 per visit. Keep in mind the office visit co-pay will add to your monthly premium. That's why we ask how many times you go to the doc per year. If you go only once, then you should consider the catastrophic coverage. What's the point in paying for benefits that you aren't going to use?
Being healthy and staying in good health is critical to getting approved at the best rate. Most insurance carriers look for individuals and families that are healthy. With a carrier like Aetna you may get approved at three different rates, A, B or C rating. The A rate is the best rate available for that particular plan. The B rate is your original (best) rate plus 25 percent and the C rate is your original (best) rate plus 50% of the premium. Carriers have the right to raise your monthly premium based on your health conditions, or they can possibly decline you. That's why it's beneficial to be in good health when applying to all health insurance companies. It's not impossible to get health insurance if you are taking over two medications however it can get a little pricey. For clients that are declined there is always the state sponsored MRMIP coverage for states such as California (check within your state to get the full details of what state plans are available. The Major Risk Medical Insurance Program (MRMIP) is a funded by tobacco taxes, sometimes there may a shortage of fund resulting in the individual being put on a waiting list. Generally this waiting list is a maximum of 3 months.
If you know that you only want catastrophic health protection then you should take a look at the health plans without office visit co-pays. The catastrophic plans usually give you the benefit of getting a physical once per year at a co-pay or for almost free of charge. However, that's the only co-pay benefit you receive before satisfying your deductible. After you determine that you want catastrophic protection you need to think about your maximum out of pocket. The out-of-pocket maximum is the maximum amount of money you will have to pay in a calendar year. Let's say your out-of-pocket max is $3000 for a calendar year. If you go to the emergency room and are then admitted to the hospital for three days, chances are your claims will be very high (potentially $50,000, $60,000 or even $100,000.) If you need a surgery or some other type of emergency service your claims could reach $400,000. With an insurance plan that has a maximum out of pocket of $3000, you will only pay $3000 for those high claims that could leave you bankrupt. Make sure to pay attention to your out of pocket maximum. That is the main reason for insurance in the first place.
Like office visit co-pays, you can choose to elect co-pays for your prescription drugs. On the average you will have a $10 co pay for generic and a $35 co-pay for brand drugs (there is usually a brand deductible applied ranging from $250 -$750). Some plans will come with generic prescriptions only and/or have a maximum cap put on the Rx benefits. This is common with the new lower priced premium plans. Unfortunately the insurance carriers can't offer the full prescription drug benefit plans at a cheap monthly premium like they used to. People take a lot more prescriptions now and they cost a lot of money for the carriers annually. Make sure a pay close attention to what type of prescription drug coverage you are getting on the cheap premium plans. If you take two to three prescriptions and really need good drug coverage then you will pay a little more in premium but save a lot in the long run.
Lastly after you have answered the other five questions, you need to decide how much you can afford monthly. The higher the benefits on your plan the more it's going to cost. It's the same with car insurance, full coverage or liability only. There are low deductibles, high deductibles and zero deductible health plans. As a general rule of thumb, the lower your deductible the higher your monthly premium will be. To narrow down a plan that works for your lifestyle it is always a good idea to speak to a local insurance agent. An agent will quickly get a sense of your insurance needs and then browse each insurance carrier to find a plan that will work for you based on benefits, needs, out of pocket maximum and monthly premium. If you go directly to the insurance carrier your options will be limited to only that carrier.
About The Author:
This article was brought to you by the premier health insurance provider J.C. Lewis Insurance Services of California.
How many times do you visit a doctor every year?
What is your current health status?
Do you want catastrophic protection only?
Do you want doctor office visit co-pays offered before your deductible?
Would you like prescription drug co-pays?
How much of a monthly premium can you afford?
Are you someone that visits the doctor frequently? If yes, then you will benefit from having the office visit co-pay before having to satisfy your deductible. Without co-pays the visit could potentially cost anywhere from $85 to $150 for a sickness checkup. With a co-pay plan you will pay anywhere from $10 to $50 per visit. Keep in mind the office visit co-pay will add to your monthly premium. That's why we ask how many times you go to the doc per year. If you go only once, then you should consider the catastrophic coverage. What's the point in paying for benefits that you aren't going to use?
Being healthy and staying in good health is critical to getting approved at the best rate. Most insurance carriers look for individuals and families that are healthy. With a carrier like Aetna you may get approved at three different rates, A, B or C rating. The A rate is the best rate available for that particular plan. The B rate is your original (best) rate plus 25 percent and the C rate is your original (best) rate plus 50% of the premium. Carriers have the right to raise your monthly premium based on your health conditions, or they can possibly decline you. That's why it's beneficial to be in good health when applying to all health insurance companies. It's not impossible to get health insurance if you are taking over two medications however it can get a little pricey. For clients that are declined there is always the state sponsored MRMIP coverage for states such as California (check within your state to get the full details of what state plans are available. The Major Risk Medical Insurance Program (MRMIP) is a funded by tobacco taxes, sometimes there may a shortage of fund resulting in the individual being put on a waiting list. Generally this waiting list is a maximum of 3 months.
If you know that you only want catastrophic health protection then you should take a look at the health plans without office visit co-pays. The catastrophic plans usually give you the benefit of getting a physical once per year at a co-pay or for almost free of charge. However, that's the only co-pay benefit you receive before satisfying your deductible. After you determine that you want catastrophic protection you need to think about your maximum out of pocket. The out-of-pocket maximum is the maximum amount of money you will have to pay in a calendar year. Let's say your out-of-pocket max is $3000 for a calendar year. If you go to the emergency room and are then admitted to the hospital for three days, chances are your claims will be very high (potentially $50,000, $60,000 or even $100,000.) If you need a surgery or some other type of emergency service your claims could reach $400,000. With an insurance plan that has a maximum out of pocket of $3000, you will only pay $3000 for those high claims that could leave you bankrupt. Make sure to pay attention to your out of pocket maximum. That is the main reason for insurance in the first place.
Like office visit co-pays, you can choose to elect co-pays for your prescription drugs. On the average you will have a $10 co pay for generic and a $35 co-pay for brand drugs (there is usually a brand deductible applied ranging from $250 -$750). Some plans will come with generic prescriptions only and/or have a maximum cap put on the Rx benefits. This is common with the new lower priced premium plans. Unfortunately the insurance carriers can't offer the full prescription drug benefit plans at a cheap monthly premium like they used to. People take a lot more prescriptions now and they cost a lot of money for the carriers annually. Make sure a pay close attention to what type of prescription drug coverage you are getting on the cheap premium plans. If you take two to three prescriptions and really need good drug coverage then you will pay a little more in premium but save a lot in the long run.
Lastly after you have answered the other five questions, you need to decide how much you can afford monthly. The higher the benefits on your plan the more it's going to cost. It's the same with car insurance, full coverage or liability only. There are low deductibles, high deductibles and zero deductible health plans. As a general rule of thumb, the lower your deductible the higher your monthly premium will be. To narrow down a plan that works for your lifestyle it is always a good idea to speak to a local insurance agent. An agent will quickly get a sense of your insurance needs and then browse each insurance carrier to find a plan that will work for you based on benefits, needs, out of pocket maximum and monthly premium. If you go directly to the insurance carrier your options will be limited to only that carrier.
About The Author:
This article was brought to you by the premier health insurance provider J.C. Lewis Insurance Services of California.
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