International Insurance

Today, all the more people travel abroad as a custom, whether because it’s part of their jobs or traveling just for holidays. International travels are increasingly becoming more common, due both to globalization and the low prices of flying tickets, making it very necessary for many people to travel regularly. However, everyone is likely to have some kind of accident or illness while traveling abroad, but that’s ok, because you have a proper insurance plan. What many people discover by the hardest way is that their insurance plans don’t cover expenses in another country. That’s why international insurance is also becoming very important.

International insurance is the type of plan that guarantees assistance in every country, every time, with 24/7 access to medical and legal services. As expected, international insurance plans are one of the most expensive plans on the insurance market, but there are good companies that offer policies for almost every pocket. There are also several levels of coverage for international insurance policies, since plans that cover only emergencies, to very comprehensive policies that include repatriation costs, in and out-patient care, dental assistance, and even complementary care. Some plans also cover expenses of relocation in the event of the emergency can’t be dealt in the place you are, especially because it’s a difficult or inaccessible location.

Some international insurance plans also guarantee that you would be directed to an English speaking doctor, no matter where you are and evidently if English is your first language.

Thanks to the internet, international insurance is becoming more popular and flexible, since most international insurance companies use the web to conduct the processes and also to provide online quotes. Before actually packing your bags, the internet is also a very helpful tool for you to research through the several types of international insurance coverage and also to choose an insurance company near you.

Travel Insurance

With the cost of travel insurance at all time lows, and the wide range of coverage that’s available, it doesn’t make sense to hit the road without buying a travel insurance policy. Travel insurance isn’t just for professional travelers anymore. Anyone, especially families heading out on vacation, can buy a lot of peace of mind for a few dollars. Here’s what to look for when selecting a travel insurance policy: Is your travel insurance provider a respected company with an A+ rating from an insurance rating organization such as A.M. Best? Will you travel insurance reimburse you for fares and hotel costs in the event that your trip is cancelled or seriously interrupted? Does the policy cover lost luggage as well as damage to personal property if the carrier mishandles your luggage? Are policy limitations high enough to reimburse you for all losses? Does the travel insurance policy have any limitations or restrictions that would make buying it not appropriate for your particular circumstances? Does the travel insurance policy provide coverage for all family members traveling together? Are there provisions for medical coverage if you become sick or injured in a country where your health insurance is not accepted? If medical coverage is provided, does it cover all activities that you are likely to become involved in such as scuba diving or parasailing? Does your travel insurance provider have 24-hour help line that can be reached from the places that you will be traveling to? Does the policy provide arrest bond coverage in case you are involved in a legal incident while you are away from home? Does the travel insurance policy also cover reimbursement for normal attorney and legal expenses that may be connected to an incident that occurs while you are on the road? Does the travel insurance provider offer annual policies for people who travel frequently? Can your claims be processed from anywhere in the world or do you have to wait until you return home to get paid? Not all companies provide all of this coverage and services and, in fact, you might not actually require coverage from all of these perils. Your best bet is to use these guidelines to make a list of the items that are important to you and then look for a provider that meets all of your needs. That way you’ll end up with the most coverage possible for the least amount of money. Then all you have to do is hope that you never actually have to use your travel insurance.

Auto Insurance

Auto insurance is required in 47 of the 50 United States. But even if you live in one of those three states that do not require car insurance, you’re risking a lifetime of financial ruin if you opt to drive unprotected. All it takes is for you to be found guilty of causing an accident with serious property damage, personal injuries, or fatalities and you could lose your home and every penny you have or will ever earn. It’s simply not worth the risk.

Just because you have to buy auto insurance there is no need to pay too much to get it. Here are some money-saving tips to keep in mind when you are buying auto insurance:

Compare Prices

Premiums vary greatly among different auto insurance providers. There is no such thing as a “standard rate”. Visit your State Insurance Commissioner’s web site to get a list of all auto insurance companies that are licensed to write car insurance policies in you state and then get a quote from each one.

Talk to friends, family and neighbors to see who they insure their cars with. Besides low rates, you want an auto insurance company that is fair and that will respond to claims quickly and professionally.

Save money with higher deductibles

A deductible is the amount that you have to pay out of your own pocket for damage before the auto insurance kicks in. The higher the deductible is, the lower your premium will be. Simply raising your deductible from $200 to $500 could result in annual premium savings of as much as 30%. Even higher deductibles will yield greater savings. A $1000 deductible could save you 40% of your premium costs.

Check for additional discounts

Many auto insurance companies offer discounts for safe drivers, auto alarm systems, Anti-Lock Brake Systems (ABS), multiple auto coverage, and having your home and auto insurance with the same company. Be sure to ask your agent for a complete list of every discount they offer and then apply for any that you qualify for.

A few hours spent doing your homework can save you hundreds to thousands of dollars per year. It’s worth the effort.

Insurance Claims

Insurance claims are a very important aspect of the insurance market, and something that has to be clearly understood by policy holders and insured parties, in order to avoid any misunderstanding. Insurance claims are in fact requests made by policy holders to the insurer (in general, the insurance company) asking them to pay for a loss. Insurance claims must be filed by policy holders before any money is disbursed to a hospital (in case of health insurance claims), repair shop (in case of car insurance claims).

In general, when a person files an insurance claim, the insurance company sends an investigator to evaluate the authenticity of the claim, and to determine if prices of the service requested (whether medical or repairing costs) are reasonable, to prevent any sort of fraud. In the USA alone, it is estimated a loss of $80 billion annually, only due to insurance frauds. That’s why the work of the insurance adjustor or appraiser it’s essential to guarantee an efficient work. Insurance claims are not compulsory in the event of any accident or medical help needed. The insured may opt for not to file an insurance claim if costs are minor of if a third party decided to pay out-of-pocket, a situation very common in case of car accidents.

It is important to stress out that an insurance claim is not a guarantee of pay-out. First, the insurance company has to assess the situation and evaluate if it’s reasonable to be paid. Some insurance claims may be not recognized by the insurance company, for several different reasons. The most common reason is that when the damage is caused by negligence or carelessness, and also when it’s caused by what is called Act of God, a flood, hurricane or earthquake for instance. As such situations are in general unavoidable, most insurance companies have the right to refuse payments.

Homeowners Insurance

Homeowners insurance is an absolute necessity. That’s not just because you need to protect what is probably the single largest investment that most people ever make, but the bank or mortgage company that is financing the home will require homeowners insurance as well.

If you are shopping for a new home, start the process of finding a homeowners insurance company as early in the process as possible. Last minute decisions usually result in higher premiums and you may be in such a rush that you overlook important coverage items that could be missing from your policy.

Your personal credit rating matters as much to homeowners insurance companies as it does to mortgage companies and banks. The better your credit rating, the lower the premiums will be. Know what your credit score is and take steps to clean up any blemishes before you apply for homeowners insurance.

Just like you have a personal credit history, most houses have an insurance history. There are several national databases that house homeowners insurance claims. These claims are tracked by address. If the home you are thinking of buying has had too many claims in the past, even before you owned the home, you’ll end up paying a higher premium. You can check your home’s claim history at websites like www.ChoicePoint.com

Just like auto and health insurance, you can lower your homeowners insurance rates by opting for a higher deductible. A $1,000 deductible can save as much as 25% of your annual premium.

Homeowners insurance companies also offer discounts for certain things like the presence of burglar and fire alarms, fire sprinkler systems, hurricane-proofing for windows, doors and roofs, as well as other features that you may not think about. Ask your homeowners insurance agent for a complete list of all discounts that you may qualify for. Often times you can save even more money by having the same insurance company insure your automobiles and your home.

Homeowners insurance does not cover damage from flooding. If you live in a flood zone, or even if you don’t but you want to be protected from unexpected flooding, you’ll need to buy Federal Flood insurance from an authorized homeowners insurance agent.

Make sure that you have enough coverage to completely rebuild your home at current prices. Look for the term “replacement value” in your policy. Don’t forget to increase you coverage as the value of your home increases.

Family Health Insurance Plan – Think About Cash Plans

One of the most affordable ways to get a family health insurance plan is to look into a “cash plan." The way a cash plan works is that the insured person (family) will make monthly payments to the cash plan insurer, much like paying a monthly health insurance plan bill. The cash plan insurer hangs onto this payment in some form, and then provides cash when a member of the family must seek medical attention.

Most people find that cash plans aren’t ideal, but despite their negative aspects, they do offer positive aspects that may make them an affordable family health insurance plan choice.

Positive Aspects of a Cash Plan

Cash plans are usually much cheaper than any other kind of health insurance plan you could purchase, and you can even choose how to spend the cash as far as medical expenses go. Some plans do not just cover time spent in a hospital; some cash plans may cover vision and dental care, as well as prescriptions. Some cash plans even provide medications for the family member.

Negative Aspects of a Cash Plan

Cash plans, unlike Private Medical Insurance, also known as PMI, don’t offer access to the more ideal health care providers, nor do they offer access any quicker. So, you may be left waiting for a while before you can see a health care provider that may not be at the top of your list. Your wait could be even longer due to the waiting period that some cash plans enforce; meaning, you might have to wait a certain amount of time before you can actually seek medical treatment.

There may also be a limit of cash the cash plan will hand over, so you’ll most likely have to pay some out-of-pocket expenses. Plus, any existing medical conditions you or your family members had before enrolling in the cash plan are usually not covered under the cash plan.

Group Medical Insurance – The Two Basic Kinds

Those of us in search of medical insurance ideally want to get our hands on a group medical insurance plan. Admit it – one of the biggest perks of taking a new job, and hanging onto it, is the group medical insurance plan that it offers. Unfortunately, employers are not required to offer any kind of group medical insurance plans to their employees. If your employer does not offer a kind of group medical insurance plan, or you are self-employed, unemployed, or employed only part-time, chances are you are going to have to search for an individual medical insurance plan, and let’s face it – finding an affordable individual medical insurance plan can be quite the scavenger hunt.

The two most popular ways to get a group medical insurance plan is through your employer and through an organization with which you are affiliated. Many organizations offer all types of insurance plans, from medical and life insurance to auto and home owners insurance, to their members. If you belong to one of these kinds of organizations, read up on their policies about group medical insurance plans.

Briefly, there are two main kids of group medical insurance plans. You may get a fully insured group medical insurance plan, in which your employer or organization agrees to take on the responsibility of covering all of your health-related services. Or, you may get a minimum premium plan, also known as an MMP, in which your employer or organization takes on the responsibility of paying a certain amount of your health-related services. Think of it as a cap. After that amount of money has been dished out, the insurer picks up the tab.

With a minimum premium plan, you may be offered a basic coverage group medical insurance plan, a major medical coverage group insurance medical plan, or a combination of the two – a group medical insurance plan that offers both basic coverage and major medical coverage.