Points to Keep in Mind Before Filing a Car Insurance Claim

Oh, the hassles of filing car insurance claims. Not only are you dealing with an accident and everything that comes with it, but you also have to worry about filing a claim with your auto insurance company and the consequent increase in premium rates. But wait, before you fret, there is no law that states you have to report every accident to your car insurance company. You might not know this yet, but every claim you make with your insurer goes on your insurance record. Now, with that in mind, you might want to take a couple of points into consideration before making a car insurance claim.

If your deductible is more than the cost of your repairs... it would be a good idea to pay the repair bills yourself and not reporting the damage to your insurer.

If you have multiple tickets on your driving record... it would be a good idea to contact your state's department of insurance to find out what the rules are about non-renewal of your policy. If you have multiple tickets and you've just met with an accident in which you are at fault and that makes your case an ideal one for non-renewability, you might want to reconsider filing a claim with your insurer.

If another car or person is involved in the accident... you should consider reporting the accident to your insurer. In some cases, two parties might want to settle the damages amicably between them without involving insurance companies, but sometimes, it might take a day or two for injuries to show up, or someone else might make a claim against you. It is in this situation, where you want to be in a position where your insurance company can protect you.

If you file a claim for theft, vandalism, riot, fire etc, where you are not at fault... your premium rates should not be affected. Hence, don't be afraid of filing a claim with your carrier in such cases.

If you are someone with a good driving record... and you meet with a minor accident like, for instance, if you have a fender bender, that's really not going to change the way you're looked at. Your rates will most likely not be increased. But if you are someone with a history of accidents and filing claims, there's a very good chance that your rates will be increased.

If you have made a series of small claims in the past... you might want to think twice about filing a claim about the most recent accident, especially if the damages are minor and can be paid for easily. A number of small claims can result in increased premiums so be very careful about what claims you file with your insurer.

Auto insurance is meant to cover your losses when you really need it to. In cases when the damage is considerably small and you can afford to pay to fix it out of your own pocket, consider not filing a claim with your provider. Similarly, if your car has considerable damage, feel free to file a claim with your company, by all means!
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Tips on Different Types of Insurance

There are many types of insurance policies. The most basic types of policies, of course, are for life, health, and transportation. Below, I will cover these basics.

Health Insurance:

Health insurance is arguably the most important type of insurance to have. Most health insurance companies offer a variety of plans to suit your needs. Some plans have network restrictions that require you to first obtain a primary care doctor's recommendation before seeing a specialist. Others may or may not include prescription drug discounts, which is an important consideration.

For those in need, all 50 states offer free or low-cost health coverage programs that may include vision and dental care. There enrollment requirements are largely determined by a person's income level. Additionally, there are many free and low-cost clinics that offer healthcare to local residents and still other clinics that specialize in vision and dental care.

If you happen to be a veteran without healthcare, I have provided a link below where you can contact a regional VA healthcare center and ask about enrolling in one of their plans.

Life Insurance:

Life insurance may be purchased to protect you against unforeseen life events, such as death, but does not necessarily require death to take advantage of it. It can include a savings portion that can be withdrawn before death. This depends on the policy. Some companies charge a lower premium after a certain age, which makes this kind of insurance even more affordable.

Vehicle Insurance:

In all fifty states of the U.S.A., drivers are required to have some form of liability insurance or proof of financial responsibly, meaning they can pay the costs of an accident that the required insurance would cover. Driving without liability insurance can lead to stiff penalties and fines, depending on the state and circumstances. More still, how you drive your vehicle can affect your premium. Some auto insurance companies offer good driver discounts. Conversely, poor driving habits can mean higher premiums and even worse, loss of insurance.

Like most people, you are probably familiar with the above insurance plans. However, too many people do without insurance even when they know the risks. Do yourself a favor and take the time to research these kinds of insurance plans in your state. Don't let your finances have you thinking that basic health coverage is beyond your reach. As I stated before, every state has affordable health programs for those in need, including VA healthcare for veterans. Therefore, at the least, contact your state's health department about enrolling in their healthcare program.

Payment Protection Insurance - What To Check Before Taking It

Payment Protection Insurance is something that retail borrowers find very useful because it helps them plan for the future better. Also known as loan payment insurance or even credit insurance, it is designed to ensure that the buyer's debt is serviced even if he or she is unable to do so for any reason.
You might have taken out Payment Protection Insurance to protect your mortgaged house or any other asset just in case you are unable to earn money for some reason. However, are you certain that your insurance will give you the benefits you expect? There are a few things you need to know before you buy this insurance policy. They include:
1. The loan payments covered are usually only for a fixed period. This depends on various factors but it is rarely more than 12 months. While this is generally sufficient time for yo to make other arrangements to pay back the loan, a surprising number of people expect the loan to be serviced fully because they did not go through the details of their insurance policy to read this.
2. Most insurers will not pay out a claim if it comes to light that you were self-employed, retired or even a student at the time of taking out the loan.
3. Similarly, you would not be eligible for the insurance on account of a pre-existing medical condition such as diabetes, back pain or heart trouble.
4. If you get a payment from your company in lieu of notice then you might not be eligible for a claim on the insurance policy for that period.
As you can see, getting money from your Payment Protection Insurance policy is not always a straightforward issue. Therefore, you need to have a detailed discussion with the person who is selling the policy so that you have a clear understanding of what to expect. There have been many cases of people having been sold these policies even though they do not need it or even qualify for it. Further, many people are pressured into buying these policies by being told that they are compulsory.
A Payment Protection Insurance is extremely important as long as it has been taken out for the right reasons and with all the necessary information in hand. This insurance will certainly add to your monthly payments which might be considerable but it will also give you lots of peace of mind.