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Three Tips To Help Your Vacation Get Off To A Worry-Free Start
---With vacation season in full swing, you may be in the process of planning an annual getaway. While most people spend lots of time looking for ways to maximize their budget, one costly decision is often left to the last minute—whether to buy the optional insurance offered by a rental car company.
“Deciding whether to buy ‘damage waivers’ or insurance at the rental car counter can be a confusing experience—especially if you don’t know if you’re already covered by your personal auto insurance policy,” said Rick Crawley of the Progressive Group of Insurance Companies. “Optional rental car insurance can cost between $7 and $25 per day, depending on the rental car company, vehicle make and model and type of waiver. Those daily charges can significantly add to the cost of your rental.”
Follow these three tips, courtesy of Safe Street Insurance, to help you decide whether or not you should buy the coverage:
1. Consult with an independent insurance agency – like Safe Street Insurance. As licensed insurance professionals, independent insurance agents and brokers can review and evaluate your policies to find out if the coverage you have on your personal vehicle provides protection for you in a rental car.
2. Check with your credit card company. Some credit card companies provide coverage at no charge if you use their card to charge the cost of the rental. However, some restrictions may apply so be sure to ask for a description of the exact coverage’s provided.
3. Take your personal auto insurance policy and details of your coverage’s with you to the rental car counter. You may be asked a question that these papers can help answer—or, if you’re in doubt, you’ll have your agent’s name and phone number readily available. “We want people to have the information they need to make more informed decisions about car insurance,” said Crawley.
“Knowing whether you need to buy additional coverage can save you money and give you peace of mind so you can enjoy your vacation. Don’t start off your trip questioning your decisions—take control by talking with Safe Street Insurance and knowing the answers to those inevitable questions.”
To learn more about all your independent agency can offer you, contact Safe Street Insurance @ 480-240-4687 or email at Michael@safestreetinsurance.com
Putting Insurance Companies To Work For You
—Car insurance may be one of the last things that comes to mind when you think about saving time, but the insurance company you choose can actually have a big impact on your time should trouble strike.
If you’re in an accident that results in a claim, you could spend days handling the claims/repair process yourself.
That’s one reason it’s a good idea to check out insurance options that can save you time. For instance, the concierge-level of claims service offered by The Progressive Group of Insurance Companies is a unique claims repair option that takes only 15 minutes to complete. Simply drop off the damaged vehicle at one of Progressive’s facilities offering this service and a claims representative handles the entire claims/repair process for you— from start to finish.
Here’s how the process works:
You can call or go online to report a claim—anytime of the day or night—and schedule an appointment to bring the vehicle to a nearby facility offering the concierge-level of claims service.
In about 15 minutes, you’re in a rental car (if included on your policy) with assurance that you’ll receive updates from your claims representative.
Your claims representative prepares a repair estimate and contacts an auto body shop that has met strict quality requirements. Progressive and the shop reach an agreement on the cost of the repairs and the shop trans-ports the vehicle to the facility to begin repairs.
When work is finished, the vehicle is returned to the insurance facility, where your claims representative and the body shop inspect the repairs.
After the insurance company is satisfied with the repairs, you are called to pick up your car. You inspect the repairs and, if satisfied, drive off with a guarantee on those repairs for as long as you own the vehicle.
Throughout the process, you receive updates via phone or online. For more information, visit www.safestreetinsurance.com or www.progressiveagent.com.
Why You Are Paying Too Much for Insurance
---One of the myths that insurance companies push to make you believe is that the longer you have been with them, the better price you are getting. This is not always the case, although your current insurance company will tell you this over and over to get you to stay with them.
Insurance companies are constantly changing their rates. You may call Allstate today and get a price and then call again in 6 months and get a different rate. However, if you already have an insurance policy with a company and they have a rate decrease, this does not necessarily mean that your insurance rate will decrease. The reason for this is because you are set in the rate bracket that was given to you at the time you originally started the policy, whether it be 2 years or 20 years ago.
There are a few ways to get around this and make sure that you are getting the best rate possible. One thing you can do is call your agent every six months when your policy is up for renewal and have him check if there are new rates available to you or any new discounts that they now offer. Another way to get around this is to find an independent agent who can shop multiple companies for you every six months when your policy renews, this is your best option as an independent agent will be able to offer you more choices and ensure you the best rate.
Another concern is that if you haven't been with an insurance company for longer than a few years that they will not treat you well in case of a claim or any other time of need. This is not true, all insurance companies will treat you the same, regardless of how many years you have been with them. It is most important to find an agent who will always be there on your behalf and fight for your best interest. With a good agent, who understands your needs and concerns, it doesn't matter what company you are with, or how long you have been with them.
In today's economy everyone is looking to save money and cut down on bills. Don't get stuck paying extra, unnecessary money to an insurance company simply because you feel obligated to stay with them for longer than 5 years. Shop around! Call Safe Street Insurance today and let them find you the best rate in Arizona. Or visit www.safestreetinsurance.com to get an instant online quote.
Why should I buy life insurance?
Many financial experts consider life insurance to be the cornerstone of sound financial planning. It can be an important tool in the following situations:
Replace income for dependents
If people depend on your income, life insurance can replace that income for them if you die. The most commonly recognized case of this is parents with young children. However, it can also apply to couples in which the survivor would be financially stricken by the income lost through the death of a partner, and to dependent adults, such as parents, siblings or adult children who continue to rely on you financially. Insurance to replace your income can be especially useful if the government- or employer-sponsored benefits of your surviving spouse or domestic partner will be reduced after your death.
Pay final expenses
Life insurance can pay your funeral and burial costs, probate and other estate administration costs, debts and medical expenses not covered by health insurance.
Create an inheritance for your heirs
Even if you have no other assets to pass to your heirs, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries.
Pay federal “death” taxes and state “death” taxes
Life insurance benefits can pay estate taxes so that your heirs will not have to liquidate other assets or take a smaller inheritance. Changes in the federal “death” tax rules between now and January 1, 2011 will likely lessen the impact of this tax on some people, but some states are offsetting those federal decreases with increases in their state-level “death” taxes.
Make significant charitable contributions
By making a charity the beneficiary of your life insurance, you can make a much larger contribution than if you donated the cash equivalent of the policy’s premiums.
Create a source of savings
Some types of life insurance create a cash value that, if not paid out as a death benefit, can be borrowed or withdrawn on the owner’s request. Since most people make paying their life insurance policy premiums a high priority, buying a cash-value type policy can create a kind of “forced” savings plan. Furthermore, the interest credited is tax deferred (and tax exempt if the money is paid as a death claim).
7 Costly Health Insurance Mistakes
Poring over the fine print of health insurance plans to choose a policy is nobody's idea of fun, but you're better off spending some painstaking time researching before you buy than nursing a nasty financial headache later.
The "quality" of a health plan often depends on your needs and how much financial risk you can bear.
"One size doesn't fit all," says Martin Rosen, co-founder and executive vice president of Health Advocate, which helps employers and individual clients navigate the health care system. "You really need to assess what you need."
Whether you're choosing among group health plans offered by your employer or shopping for individual health insurance coverage, there are seven scenarios to avoid.
1. Your doctor isn't in the network
You'll pay more to use health care providers who aren't in your health plan's network, so check to see if the doctors and other professionals you want are included.
A plan that tightly restricts you to a local network might be sufficient if you need care only in your area, but it won't benefit a kid away at college or meet all your needs if you spend a lot of time on the road, says Pete Villemain, the president of Employee Benefit Services, which manages employer benefits plans.
Make sure any specialists you need are also covered by the plan, Rosen says. Don't assume a specialist is in the network just because your primary care doctor gave you the name.
2. You pay huge insurance premiums to save a few bucks on the co-pay
"The mistake I see individuals make so many times is they focus so much on getting a low co-pay and they fail to look at how much extra premium they pay for it," says Villemain.
He suggests evaluating how you'll use your plan and comparing the costs accordingly. If you go to the doctor only a couple of times a year, is it worth hundreds of dollars extra on the premium just to get a lower co-pay?
3. The drugs you take aren't covered
Some states require individual plans to offer prescription drug coverage, but in other states, many individual health insurance plans don't cover drugs, says benefits consultant Michael Goodheim of Farsighted Strategies in Seattle.
If the plan provides prescription-drug coverage, check to see if your medications are included on its formulary, which lists the preferred drugs for coverage, Goodheim says. Expect to pay more if you take a drug that is not listed.
Rosen suggests checking whether the plan provides discounts if you mail-order prescription drugs in bulk. For instance, you might be able to pay less per month for a 90-day supply through mail order than for three 30-day supplies at the pharmacy counter.
4. You're overinsured
In addition to comprehensive health plans, many employers offer supplemental insurance policies, such as cancer or critical illness insurance, that pay a lump sum of cash after diagnosis. Such policies can provide valuable protection, but they might be unnecessary if you already have broad coverage under your medical insurance and short-term and long-term disability insurance, Goodheim says. If you're footing at least a portion of the premium bill, why pay for coverage you don't need?
5. You can't afford your share of the medical bills
Low premiums are an attractive feature of high-deductible health plans, but make sure you're prepared to pay all the out-of-pocket medical expenses, Goodheim says.
Besides the deductible, check the maximum out-of-pocket expenses you pay. After you pay the deductible, many plans pay only a portion, such as 70%, of covered medical expenses. Your 30% share is called co-insurance, which you must fork over until you reach the cap on out-of-pocket expenses.
"Those dollars can really add up," Goodheim says.
6. You're expecting, but your policy doesn't cover maternity care
Most employer-sponsored plans cover maternity and prenatal care, thanks to the federal Pregnancy Discrimination Act of 1978 and the Health Insurance Portability and Accountability Act of 1996, as well as many state health insurance mandates for group coverage. Some states also require individual health insurance plans to include maternity coverage, but in states where there is no such mandate, many individual health plans pay only a small portion of the costs or don't cover maternity at all. Even if the plan includes maternity coverage, read the fine print to know exactly what is covered and whether there's a monetary cap.
Starting in 2014, individual and small-group plans sold through state health insurance exchanges must include pregnancy and newborn care, along with other essential benefits.
7. You don't check your health plan for changes
Scrutinize group health plan offerings from employers each year during open enrollment, Rosen says. Don't assume the plan is still the same. Coverage levels, costs and networks could change from one year to the next, even if the plan is offered by the same insurer.
"If you're not sure about something and it raises a flag in your mind, then check it out," Rosen says.
This article was reported by Barbara Marquand for Insure.com.
