Posts Tagged ‘Expensive Car’
Some strategies on finding affordable health insurance.
I’ve been a health insurance agent since 1985. I help Connecticut residents find health insurance and have for the last several years have also managed a website that helps people in other states find medical and hospital policies online.
Over the years I have changed my mind about hospitalization only insurance. These health insurance policies have significant limitations that are not found in the typical health insurance plan. I tend now to help my clients who express an interest in hospital only policies find catastrophic health insurance providers. High deductible or catastrophic medical insurance policies are also low in cost, but have fewer drawbacks.
Why I don’t like hospitalization only insurance:
Hospital stays are getting shorter and shorter. However, people are not necessarily healing any more quickly. The medical care that years ago, you might have received in the hospital during the last day or two of your stay is today care that you are likely to receive outside of the hospital. This care is not likely to be covered. A hospitalization only health insurance plan may cover the hospital stay, usually not the medical care that takes place outside of the hospital.
X-rays, lab work, MRIs, etc. often take place outside of a hospital. These can be expensive and may not be covered by a hospitalization only insurance policy.
A long-term illness may require years of doctors visits, none of which are likely to be covered by a hospitalization only insurance policy.
People buy hospitalization only insurance policies to save money. Saving money is of course a good thing. However if it was the only thing we’d all buy the least expensive car and wear the least expensive clothes.
If you need to keep your costs for health insurance lower, I recommend searching for medical and hospital policies online or elsewhere and looking for a catastrophic or high deductible policy that covers you both in the doctor’s office and in the hospital. In my opinion, a catastrophic health insurance policy that has a $2,000 deductible, but covers you in the doctor’s office and the hospital is a better deal than a hospitalization only policy that has a $1,000 deductible even if they cost the same.
Hospitalization only insurance is like a bullet-proof vest that is only bullet-proof in the front. Catastrophic health insurance may be a better option. If you need to save money, go for a higher deductible medical insurance policy that is “bullet-proof” on both sides.
Good Luck,
Alston J. Balkcom
This article can be copied and reprinted but only in its entirety and with the links intact. The article was originally published on https://lovetherates.com/articles/hospitalization-only-insurance-article.htm. The article starts with the heading “Hospitalization Only Insurance” and ends with this sentence.
Alston Ballkcom
http://www.articlesbase.com/finance-articles/hospitalization-only-insurance-vs-catastrophic-insurance-130024.html
I am looking for a used car around the 2000 year and I wanted a grand am well I need to know if the insurance on this type of car is sport or what what is the lowest catagory of insuranace for a 47 yr. old driver who hasn’t had insurance in years. what type of car a guideline on what cars cost less in insurance what about the intreped? vrs the grand am both sport grade help before I get too expensive car to get insurance
Contact an agent in your area that represents many different companies. They can council you on your choices and what would be the best for you.
as a first car i’ve been told to get an old banger (something around 10years old no rust) low CC’s (engine size) in group 1 insurance but i don’t know what cars would be in group 1 (the lowest insurance cost) i’ve looked online for a list but not found anything substantial
what would you suggest
It should be 4-door, 4-cyls, not sporty. I would prefer Honda or Toyota… First time drivers usually have much more expensive car insurance, and it depends from car. You should compare insurance rates while choosing the car – for example here – autoinsurance.maclenet.com
My budget for the car is around £6000 and i was wondering what anyone could recommend as a good first car for me. It needs to be fairly cheap on insurance, with a small engine!
It should be 4-door, 4-cyls, not sporty. I would prefer Honda or Toyota… First time drivers usually have much more expensive car insurance, and it depends from car. You should compare insurance rates while choosing the car – for example here – car-insurance.66ghz.com
Car Financing
Securing financing before you go to the lots allows you to have the bargaining power of pre-approved finance when searching for your vehicle. Remember that the longer you borrow the money, the more it will cost you. Try not to borrow too much and make sure you don’t borrow an unreasonable amount that you can’t pay back. Try to pay as much as you can up front – in cash or as a trade-in – and pay less interest. Several ways to get financing is via the internet (see resources), your local bank or credit union.
* How low is the interest rate?
* What are the annual fees?
* Can you make extra repayments without being penalized.
* Are you covered with the payments if you get sick or injured?
* Do you have a good credit rating?
Thoroughly investigate your loan and always make sure you look at the total cost of the loan as a higher interest rate can sometimes be better than a loan with a low rate but with a lot of hidden fees!
Leasing
Leasing enables you to lease a more expensive car than you could afford to purchase. The lessor (usually a bank or leasing company) buys the vehicle from the dealer or manufacturer and then leases it to you. You, in turn, pay the lessor for the right to drive the vehicle during the term of your lease. When you buy a car you pay for the entire price of the car. When you lease, you pay for the depreciation, acquisition fees, negative equity on a trade-in and after-market products (such as extended warranties) over the lease term.
A vehicle with a 20,000 price tag can be leased for three years with nothing down and a monthly payment of $385.00 or bought over the same period for $2,500 down and a monthly payment of $595. Sounds like a good deal but we got to remember the buyer owns the car and can claim the equity in it.
Car Insurance
There are several ways to get insurance: by phone, the internet or you can go to a insurance agent. Every policy is different and each insurer uses a different set of criteria in determining insurance premiums. Criteria for how much your premium will be is determined by where you live, age or sex and sometimes even your credit rating. Remember, the higher the risk, the higher the premium.
* Some other things they look at:
* Make, model and age of your car.
* Whether your car is driven for business or privately.
* The age of the drivers.
* Your driving record.
* Whether or not the car is financed.
* If there are any theft deterrents on the car.
* The number of miles that you drive per year.
Bodily Injury Liability:
Covers other people’s bodily injuries or death for which you are responsible. It also provides for a legal defense if another party in the accident files a lawsuit against you. Claims for bodily injury may be for such things as medical bills, loss of income or pain and suffering. Bodily injury liability covers injury to people, not your vehicle, not you or other people on your policy. Remember to review the terms and conditions contained in the policy. It is mandatory in most states.
Property Damage Liability:
Covers you if your car damages someone else’s property. Usually it is their car, but it could be a other property damaged in an accident such as a house or a fence. It also provides you with legal defense if another party files a lawsuit against you.
Comprehensive Coverage:
Covers your vehicle from incidents other than collision such as if it was stolen, fire, flood, or animals. A higher deductible can substantially lower the cost of insurance premiums but it means you pay more out of pocket if an incident happens. This is not required by most states, but if you have a loan or a lease they will require it.
Collision Coverage:
Covers damage to your car when your car hits, or is hit by, another vehicle or object other than a car. This coverage pays to fix your vehicle after you pay the deductible. This is not typically required by a state, but if you have a loan or a lease they will require it. .
Uninsured and Underinsured Motorist Coverage:
Covers when property damage is sustained by an driver with no insurance or is insured, but the limits of liability carried by the driver are not sufficient to cover the damages.
GAP Insurance:
This is insurance that pays the difference after you car has been totaled. For example your car is worth $3000.00 but you still owe $3500.00 to a lender. The Gap insurance pays for the difference.
Robert Gering
http://www.articlesbase.com/automotive-articles/auto-financing-leasing-and-insurance-90846.html