Insurance Quotes & Advice

The health insurance industry recently brought forth a proposal that favors mandated universal coverage.  Massachusetts is currently the only state at the moment which mandates universal coverage. 

Under the industry proposal, health plans participating in the individual health insurance market would be required to offer coverage to all applicants as part of a universal participation plan in which all individuals are required to maintain health insurance.

Health plans also said that premium support for moderate-income individuals and broad spreading of risk are necessary to promote affordability and maintain premium stability in the individual health insurance market.

The big issue for the industry is the coverage of pre-existing conditions.  By mandating coverage, individuals can’t wait until they get sick before they purchase coverage and passing off the costs to those who are already paying.

However, we still come to the issue of affordability, with so many people living at poverty levels, universal coverage will mean large government subsidies.  As Massachusetts is already finding out, that expense is much more than they thought it would be originally and are struggling to find ways to pay for their program.

Until the issue of rising medical costs is dealt with, a nationwide universal health system is impractical.  With the government facing an increased debt load from the financial crisis, finding the money to fund such an endeavor will likely be a problem.

But with the growing public support for universal coverage, that doesn’t mean the government won’t try it anyway.

Many parents will be in for a rude shock when they try to purchase auto insurance coverage for their teenager for the first time. That’s because most insurance companies consider this age group as very high risk. Statistics will back up this claim, as drivers under the age of 20 years have higher crash rates than any other age group.

Here are some things you can do to help lower their premiums. Try to encourage your child to do well in school with perhaps the incentive of getting them their own car. Most auto insurance companies will offer a good student discount that can be as high as 25%, if your child has a G.P.A. of 3.0 or higher. Choosing a high deductible can also significantly lower their premiums.

If you drive a very expensive car consider getting your teen a cheap used car as the value of the vehicle they drive is one of the determining factors in how high the premiums will be. Safer is always better and cheaper. Premiums for vehicles classed as sports cars will be much higher than those for safer models.

Most important is that parents instill their child with the responsibility of driving safely. Many states have started instituting a graduated driver’s license system that will place restrictions on young drivers usually until they turn at least 18 years of age.

As laws will vary from state to state it is very important that young drivers are aware of these restrictions and follow them to the letter as not only will they risk having their license revoked but their premiums could rise even higher. So as long as your teen is able to maintain a clean driving record you will find that the premiums will start to fall over time.

With the holiday travel season upon us once again, it’s that time of year to decide whether or not you want to purchase travel insurance for the trips that you’re planning.

What is it?

It is insurance that protects you from financial losses incurred while traveling either domestically or internationally.

What does it cover?

It can protect you from a wide variety of possible risks.  Most companies will offer coverage for the following.

• Cancellation or delay
• Lost, delayed or theft of luggage
• Personal liability
• Personal injury
• Medical expenses
• Legal expenses

Is it worth it?

If your just going for a short stay with family, probably not.  However if your planning an expensive trip like an exotic vacation or honeymoon, it may well be worth the cost.  I’d say it’s definitely worth looking into if you are plan on traveling internationally, especially for coverage of medical expenses, as your regular health plan may not cover you overseas.

It’s also important to note that you don’t have to purchase coverage for everything.  You may just want to protect for certain cases like luggage for instance, which is something I’d always recommend getting unless all you have is carryon.

While most travel agents will discuss the available insurance options with you, if you’re planning your own trip this can be a little more difficult.  In that case I would suggest calling either your auto or home insurance provider to see if they have a travel insurance package.