Insurance World

There are several ways to reduce your Insurance Premiums, and by implementing these methods you can save yourself thousands a year.

Excess

Most claims are subject to an excess which is stipulated in your policy. If you opt for a higher excess, your monthly premiums will be less. In an average policy the excess is usually between 750 and 1000. If you make your excess 2000, you will also protect your no-claim bonus, by not claiming for small amounts during the year, which will result in your premiums being lowered the following year.

Market Value

The replacement value of goods, increases all the time. The only exception is Motor Vehicles. Make sure you car is only insured at the market value. A car you bought 5 years ago will not have the same market value today. So check with your broker or insurance company that you are only paying for the market value and that it is reduced on an annual basis. 

Specified Items

Most Insurance Companies require you to Insure specific items in your policy. i.e. - Jewellery, Glasses, Cell phones etc. Make sure that if you no longer own these items, that you have them removed from your policy. There’s no point paying cover for something you don’t own anymore.

Security

By installing the following security measures, your are reducing the risk of loss, and will result in reducing your monthly premiums.

Household
Burglar bars
Alarm System and Armed Response
Security Gates
Motor Vehicle
Alarm, Immobilizer or Gear Lock
Satellite Tracking System
No-Claim Bonus

Your monthly premiums are directly related to your number of claims you submit. The less claims you submit, the lower the premiums. Most insurance companies offer a discount on household and car insurance if no claims have been submitted. Policyholders can earn such a bonus on the basis of a claim-free history.

Florida health insurance costs can prove to be a very real obstacle to many Florida consumers that are searching for a comprehensive and affordable Florida health insurance policy. Florida health insurance premiums can be pricey at first glance. However, when you consider that even some routine surgeries plus a week or more in a Florida hospital could cost upwards of six figures then the importance of finding a Florida health insurance policy that is both comprehensive and affordable cannot be underestimated.

The Florida health insurance market is a very competitive market. This is at once a very good thing and a very bad thing for the Florida health insurance shopper. The competitiveness of the Florida health insurance market is good for the Florida consumer because it forces the top companies to drive down their rates in an effort to maintain affordable health insurance policies as they compete against each other for your business. The negative aspect of the Florida health insurance market’s competitiveness is that many insurance companies are attracted to the strong demand for health insurance in the state of Florida and not all have the sterling reputation of an Aetna, Humana, or a United Healthcare.

Without mentioning names, this strong demand for Florida health insurance will attract health insurance companies to Florida that are forced to put calendar year limits in their policies or only cover benefits up to a certain amount (an indemnity style policy) in order to try and compete with stronger, more established companies.

Just to contrast the seriousness of this, imagine that you blow out your knee as you are exercising and you have to have arthroscopic knee surgery and a week plus in the hospital brings the total bill to $100,000.

With a strong reputable Florida health insurance company with an established dependable network such as one of the Florida health insurance “Big 3” (Aetna, Humana, and United Healthcare) you will have coverage of anywhere from $3,000,000 to $5,000,000 per person without any calendar year limits and without limits on benefits payable for certain procedures. That $100,000 hospital bill is whittled down to your maximum out of pocket cost of probably around $3,000 to $5,000 depending on your policies deductible and coinsurance amount.

Now imagine that you had decided years back that you wanted to go with a Florida health insurance company that you had never heard of until then and purchase a seemingly attractive indemnity policy or a policy with a calendar year limit: if the limit on the policy is for say $10,000 for that particular procedure or maybe only up to $200 a day for every day in the hospital… guess what? Once you reach that limit threshold you are stuck with the rest of the bill. It is as if you do not even have insurance once you reach the limits in the policy.

The different Florida health insurance policies can be difficult to navigate without the assistance of an expert independent insurance agent. View Florida health insurance quotes from the top companies side by side and compare them to ensure that you have both affordable and comprehensive Florida health insurance.