Go Insurance Rates

6 Month Auto Insurance

Posted in Auto Insurance

August 25th, 2009
No Comments

Are you known for having a fear of commitments? If you do, chances are that you feel that insuring your automobile with a 6 month auto insurance policy is your best bet. With this type of policy you do get the freedom to explore other insurance options after only 6 months time, but there is a cost involved.

Auto insurers are entitled to increase your premium rates only at the time of renewal for your car insurance policy. If you opt into a 6 month auto insurance agreement then you may be subject to a rate increase at the time of renewal which ultimately may cost you more money then choosing a full one year auto insurance agreement.

On the other hand, the 6 month reevaluation could actually save you some money as well. If the trend of auto insurance has been lowering the costs associated then at the 6 month mark, you can actually sign up for a new policy with lowered rates. Often, auto insurance companies charge you rates based on the long-term risk you pose, and a longer-term auto insurance policy may charge you a bit extra just to offset any additional expenses that they may need to absorb over the next year.

It is really up to you to decide the length of the auto insurance policy you opt into. As long as you have one that legally protects you and is up to the state’s standards, the choice of selecting a 6 month auto insurance policy or another option is entirely yours. Just be sure that it works out financially in your favor and that you’re obtaining the lowest auto insurance rates possible.

Can Permanent Life Insurance Expire?

Posted in Life Insurance , Permanent Insurance

August 24th, 2009
No Comments

As the name implies, permanent life insurance is exactly that.Whether a person buys a permanent life insurance policy at age 0 or age 99, the policy will never expire. However, the policy can be canceled if premiums are not paid in a timely fashion, or if something is done to bar a benefits payout.

Those with large estates may especially benefit from opting into a permanent life insurance policy as aside from it never expiring, some other advantages are:

• Leveled premium payments for the entire payment due period
• The ability to save money on a tax-deferred basis
• A guaranteed death benefit
• The death benefit commonly does not have to pay federal income tax
• The cash value can be used as a a low-interest loan
• Permanent life insurance coverage that can never expire
• A chance to earn dividends on the investment
• Riders can customize the policy

There are some types of life insurance policies that have expiration dates built in, called term life policies. Term life insurance will provide a guaranteed death benefit paid out to the heirs. However, unlike permanent life insurance with no expiration date, a term life insurance policy will only be active for the period of time (or term) that you purchase it for. Many times, heads of household with young children and a spouse opt into a term life insurance policy in case of a premature death.

A permanent life insurance policy is not just enticing as a way to protect your family after you pass, the policy is also a way to diversify your investment portfolio. Over the course of the policy there is a chance to build cash value. Regardless of your physical condition or state of mental health, the permanent life insurance policy will never expire as long as you pay your bills.

How to Save on your Home Insurance

Posted in Home Insurance , Save on Home Insurance

August 24th, 2009
No Comments

For many homeowners, home insurance is not a luxury, but a necessity. When it comes time to purchasing a new home, securing a mortgage or even buying an apartment in a co-op, home insurance may be a mandatory qualification for sealing the deal. Regardless, it is a smart decision to budget for this expense. Home devastation from “Acts of God,” forces of nature or criminal behavior can be more easily managed, both financially and emotionally if there is the safety net of home insurance in place.

With everyone operating on especially tight budgets, finding the best bargains on home insurance is a smart maneuver and Go Insurance Rates has some simple tips to help you find the most affordable home insurance coverage out there. When it comes to selecting your home insurance policy you can find the most budget friendly options by:

• Comparison Shopping – Consumers looking for affordable home insurance should take the time to research all the available offerings out there. Although many insurance providers offer discounts to consumers who have both auto and home insurance policies, discounts are not guaranteed and you may actually do better by having separate insurance providers
• Raise your Deductible – Like with any type of insurance policy, the more you are willing to pay out of pocket to manage your overall loss, the better the premium you’ll receive
• Pay in Full – If your budget allows, paying off the entire premium amount at the time of renewing your home insurance policy may save you some cash as you will pay extra for the luxury of making premium payments.
• Safety First – Smoke alarms, fire extinguishers, close proximity to a fire station and security systems will not only provide you with additional peace of mind, but may qualify you for additional discounts on your policy
• Insure Accurately – Everyone has a slew of electronics, jewelry, heirlooms and personal effects that they want to be reimbursed for through an insurance claim. However, it is extremely important that you accurately gauge the value of what you have as the cost of your home insurance is determined by several factors, including your overall maximum pay out amount
• Read the Fine Print – Make sure you read your home insurance policy for all the terms of the agreement as your provider may charge you extra for additional coverage or “add-ons” that you just do not need.

***Learn more about how you can save on home insurance rates with Go Insurance Rates.***

Out of Pocket Expenses Series: Common Out of Pocket Expenses

Posted in Health Insurance , Health Insurance Claims

August 24th, 2009
No Comments

For many years, health insurance has been a major concern not only for the government, but for the individual families and people struggling to afford to manage the expenses. Even those with comprehensive health insurance need to have even more funds available to handle medical expenses as there are still some common out of pocket expenses that need to be paid for by the policyholder in order to get certain medications or treatment.

Out of pocket health care costs are defined as additional expenses accrued by the policyholder as the overall cost passes the maximum limit imposed by the House bill that is currently in place. Because out of pocket expenses are determined by a dollar amount, not by actual treatment, nearly anything can qualify as an out of pocket expense. That includes amounts paid for prescriptions, co-payments, doctor visits, private patient status in a hospital, as well as surgery, setting broken arms and emergency room visits.

Another common out of pocket expense for those with health insurance are denied claim submissions. If you have medical insurance and seek care only to later have your provider reject your claim, you are still legally responsibly for those expenses and must pay the person that issued the treatment you sought or face legal repercussions.

Canceled / Voided Car Warranty Series: Reasons Why Your Warranty May Be Rejected

Posted in

August 24th, 2009
No Comments

Total Loss Series: Reimbursement for Modified Parts?

Posted in Auto Insurance , Special Vehicle Insurance

August 21st, 2009
No Comments

Continue to Chapter 6: Insuring Against Future Loss >>>

Return to Total Loss Index

Progressive MyRate Program Series: Program Pros and Cons

Posted in Progressive

August 21st, 2009
No Comments

Return to the Progressive MyRate Learning Center >>>

Progressive’s MyRate program aims to save you money on your auto insurance by tracking your driving behavior and offering discounts based on your results. For many, it sounds like an enticing offer. Here’s a quick list of the advantages and disadvantages of the program.

Advantages of MyRate

Here are some details:

• Enrollment is easy
• Discounts can vary from 5%-40% savings based on the state you live in
• Safe drivers will be rewarded
• Those who do not drive often will be rewarded
• The tracking device, cable and software to enable the MyRate program are all free
• During the program you can log into Progressive’s website and check out your stats

The program does have some drawbacks, however.

Disadvantages of MyRate

There are some cons to the program that may make you reconsider your potential participation such as:

• Big brother is watching as you will ultimately share all your private driving habits with Progressive
• Some states do not prevent Progressive from charging you more if after you upload the data, your driving habits are considered high-risk
• You do not know your savings amount prior to starting the program as the amount can only be determined after analyzing your data

If you are unsure about whether this program is right for you or not, you can always test it out. As of July 2009, Progressive introduced the “Take My Rate For a Spin” program where for a nominal fee, you can get a device and monitor your activity to determine if the program is right for you.

Learn How to Save Money with Progressive >>>

Car Borrowing Series: How To Loan Out Your Car Carefree

Posted in Auto Insurance

August 21st, 2009
No Comments

Most of the time when there is a friend or family member in need, you’re willing to help. However, there are some favors that should be reconsidered such as loaning a vehicle. Before handing over the keys, it is imperative that the owner of the car check with their car insurance company to make sure they are properly covering themselves in case a collision should occur.

When selecting auto insurance, the car owner has permission to add anyone under their coverage for the term of the coverage. So if you know your baby sister is going to be moving in with you and your husband for a spell, call your insurance provider and talk to them directly about the situation – adding her to the policy may be the best thing if she will be borrowing your vehicle regularly.

However, if someone wants to use your vehicle for just a day or two, you need to ask them directly whether or not they have their own car insurance. If they do chances are you can loan your car safely as it is standard that in that scenario yourauto insurance policy will cover your vehicle, plus you, your relatives and anyone else you give permission to use your car.

However, if they do not have car insurance coverage, you truly better think twice about what they are asking and check the laws of your state regarding insurance coverage when loaning your car. Like with every type of insurance out there, it is entirely up to the state to dictate the rules regarding coverage so just because loaning your car may be fine in Wisconsin, it may not be smart to do in New Jersey.

How Expensive is Fire Insurance?

Posted in Fire Insurance , Home Insurance

August 20th, 2009
No Comments

Whenever it’s time to purchase any type of insurance, we tend to shudder at the thought of just how expensive it might be – it’s no different with fire insurance. For this reason, it’s important to conduct research before committing to any type of insurance. If you have an idea of the cost associated with the coverage you’re thinking of obtaining, you can more easily shop around for the best policy for you.

How MuchDoes Fire Coverage Cost?

The amount that you will pay for fire insurance will vary based on a number of factors, including location, the likelihood and risk of fire, the coverage package you choose, and your home’s value. Therefore, it’s pretty difficult to throw a specific price out there. But with a little shopping around on your part, you can almost always find the right coverage for your budget.

How Can I Save On Coverage?

If you’re concerned thatfire insurance may be too expensive for you, don’t turn your back on it. Instead, take a look at these tips to help you save money on your coverage:

• Use fire-resistant roofing materials
• Purchase your home near a fire hydrant or fire station
• Add smoke detectors/alarms that are connected to emergency services
• Don’t leave food you’re cooking unattended
• Ensure that your electrical systems are up to code
• Invest in a fire extinguisher and learn how to use it properly

Don’t let cost be the excuse for not insuring your home with fire insurance coverage. Instead, take time to learn more about how it can help you in the long run, then start your search for the right coverage for you.

Auto Insurance Discounts Reward Military Service

Posted in Auto Insurance , Geico , State Farm

August 20th, 2009
1 Comment

Unfortunately, there are too many stories of service men and women who have come back from serving their country only to find out that the benefits and perks promised to them are not as helpful as anticipated. However, that is not to say that there are not other organizations looking out for the overall welfare for those who are onactive duty, retired from the Military, or a member of the National Guard or Reserves. One such industry that is respectful of its commitment to our armed forces are auto insurance providers, and many times they are willing to offer a 15% discount on auto insurance costs for military personnel.

The trend of helping out service personnel was first started by USAA (United Services Automobile Association) and Geico (Government Employees Insurance Company), and they are still the largest providers of this discount. However many other insurers such as State Farm, have also decided to come aboard.

The discount for military service personnel was backed by theNational Association of Professional Insurance Agents. They fought for those who protect the country’s freedom and released an announcement demanding that the underwriting requirement be waived in the case of returning U.S. troops, thus allowing service personnel a better discount on high insurance rates when putting their previously stored vehicles back on the road.