Auto Insurance Quotes Tips

Car insurance provides financial assistance if you are involved in an accident. While this can prove beneficial, no one wants to overpay for coverage they may never use. One of the best ways to find affordable car insurance is by getting auto insurance quotes. Consider the following tips to make your quote-gathering experience successful.

Tip #1: Determine Coverage Needed
If you get quotes before you even know what you need, you will probably end up paying for coverage you do not need. To prevent this from occurring, make a list of your needs so you know what type of quotes to request. You may be able to get minimum liability coverage or you may need comprehensive as well because you have a car loan. The actual dollar value of the coverage is equally important. You want enough coverage to pay for typical medical expenses and property damage that result from the average car accident.

Tip #2: Review Current Policy (if you have one)
You may be seeking quotes because you feel your current policy is too expensive or inadequate. See what is covered under your current policy so you know what to look for in your new policy.

Tip #3: Check Driving Record and Credit Score
These are two of the most important factors that will determine your insurance rates. You should know if you have points on your record which can increase your premiums. The more points you have because of speeding tickets or moving violations, the greater risk you pose to insurance companies. Poor credit scores can also cause your rates to be high.

Tip #4: Get and Compare Quotes
You will need to provide basic information including your contact details, make and model of your vehicle, driver's license number, and vehicle registration to get qualified quotes. This is where the real work is required. You will need to review each policy offer to see which has the best coverage at the lowest rate. You can always follow-up with the insurance companies that responded to your request for auto insurance quotes to negotiate even lower rates if you believe you have not received all of the discounts you are eligible to get. You may also need to confirm they have the correct information pertaining to your driving record or credit score.

Tip #6: Purchase a Policy
Once you have selected a policy and assessed the insurance company's reputation, you are ready to formally purchase the policy. A final rate will be presented to you at that time. Once you make your initial payment and your policy becomes effective, you can go ahead and cancel your old policy if you have one. Getting auto insurance quotes have paid off for you!

Wisconsin's Lemon Law

What is a "lemon"?
A new vehicle - no more than a year old and still under warranty - is a "lemon" if:

It has a serious defect the dealer can't fix in four tries, or
It has one or many defects that prevent you from using it for 30 days or more (the 30 days need not be consecutive)
What is a defect?
A defect covered by the Lemon Law must seriously affect the use, value or safety of your vehicle and must be covered by the warranty. An irritating rattle may not be "serious" enough to make your car a lemon. Stalling probably is.

What vehicles are covered?
The law covers any new car, truck, motorcycle or motor home (does not include mopeds, semi-trailers, trailers or non-motorized RVs) you buy or lease, even if you register the vehicle in another state. It also covers a demonstrator or executive vehicle.

How long are you covered?
The lemon law includes no deadline for filing a lemon law suit; a court would decide if your case were too old.

Is your vehicle a lemon?
Your vehicle is a lemon if all of the following statements are true:

You bought or leased a new vehicle.
The vehicle is a car, truck, motorcycle or motor home.
The vehicle developed a defect or defects during its first year and before the warranty expired.
The defect seriously harms the vehicle's use, value or safety.
One of the following happened during the vehicle's first year and before the warranty expired:
The dealer failed four times to fix the same defect; OR
The vehicle was out of service for 30 days or more due to defects

Health Insurance

Health insurance is insurance against the risk of incurring medical expenses among individuals. By estimating the overall risk of health care expenses among a targeted group, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to ensure that money is available to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization such as a government agency, private business, or not-for-profit entity.

 Health Insurance Policy is:

1) a contract between an insurance provider (e.g. an insurance company or a government) and an individual or his/her sponsor (e.g. an employer or a community organization). The contract can be renewable (e.g. annually, monthly) or lifelong in the case of private insurance, or be mandatory for all citizens in the case of national plans. The type and amount of health care costs that will be covered by the health insurance provider are specified in writing, in a member contract or "Evidence of Coverage" booklet for private insurance, or in a national health policy for public insurance.
2) Insurance coverage is provided by an employer-sponsored self-funded ERISA plan. The company generally advertises that they have one of the big insurance companies. However, in an ERISA case, that insurance company "doesn't engage in the act of insurance", they just administer it. Therefore ERISA plans are not subject to state laws. ERISA plans are governed by federal law under the jurisdiction of the US Department of Labor (USDOL). The specific benefits or coverage details are found in the Summary Plan Description (SPD). An appeal must go through the insurance company, then to the Employer's Plan Fiduciary. If still required, the Fiduciary’s decision can be brought to the USDOL to review for ERISA compliance, and then file a lawsuit in federal court.

The individual insured person's obligations may take several forms:
  • Premium: The amount the policy-holder or his sponsor (e.g. an employer) pays to the health plan to purchase health coverage.
  • Deductible: The amount that the insured must pay out-of-pocket before the health insurer pays its share. For example, policy-holders might have to pay a $500 deductible per year, before any of their health care is covered by the health insurer. It may take several doctor's visits or prescription refills before the insured person reaches the deductible and the insurance company starts to pay for care however, most policies do not apply co-pays for doctor's visits or prescriptions against your deductible.
  • Co-payment: The amount that the insured person must pay out of pocket before the health insurer pays for a particular visit or service. For example, an insured person might pay a $45 co-payment for a doctor's visit, or to obtain a prescription. A co-payment must be paid each time a particular service is obtained.
  • Coinsurance: Instead of, or in addition to, paying a fixed amount up front (a co-payment), the co-insurance is a percentage of the total cost that insured person may also pay. For example, the member might have to pay 20% of the cost of a surgery over and above a co-payment, while the insurance company pays the other 80%. If there is an upper limit on coinsurance, the policy-holder could end up owing very little, or a great deal, depending on the actual costs of the services they obtain.
  • Exclusions: Not all services are covered. The insured are generally expected to pay the full cost of non-covered services out of their own pockets.
  • Coverage limits: Some health insurance policies only pay for health care up to a certain dollar amount. The insured person may be expected to pay any charges in excess of the health plan's maximum payment for a specific service. In addition, some insurance company schemes have annual or lifetime coverage maximums. In these cases, the health plan will stop payment when they reach the benefit maximum, and the policy-holder must pay all remaining costs.
  • Out-of-pocket maximums: Similar to coverage limits, except that in this case, the insured person's payment obligation ends when they reach the out-of-pocket maximum, and health insurance pays all further covered costs. Out-of-pocket maximums can be limited to a specific benefit category (such as prescription drugs) or can apply to all coverage provided during a specific benefit year.
  • Capitation: An amount paid by an insurer to a health care provider, for which the provider agrees to treat all members of the insurer.
  • In-Network Provider: (U.S. term) A health care provider on a list of providers preselected by the insurer. The insurer will offer discounted coinsurance or co-payments, or additional benefits, to a plan member to see an in-network provider. Generally, providers in network are providers who have a contract with the insurer to accept rates further discounted from the "usual and customary" charges the insurer pays to out-of-network providers.
  • Prior Authorization: A certification or authorization that an insurer provides prior to medical service occurring. Obtaining an authorization means that the insurer is obligated to pay for the service, assuming it matches what was authorized. Many smaller, routine services do not require authorization.
  • Explanation of Benefits: A document that may be sent by an insurer to a patient explaining what was covered for a medical service, and how payment amount and patient responsibility amount were determined.

Life Insurance

Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money (the "benefits") upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger payment. The policy holder typically pays a premium, either regularly or as a lump sum. Other expenses (such as funeral expenses) are also sometimes included in the premium.
The advantage for the policy owner is "peace of mind", in knowing that the death of the insured person will not result in financial hardship for loved ones.
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; common examples are claims relating to suicide, fraud, war, riot and civil commotion.

The foundation of life insurance is the recognition of the value of a human life and the possibility of indemnification for the loss of that value.
—F. C. Oviatt, Economic place of insurance and its relation to society

Auto Insurance (Vehicle Insurance)

auto insurance
Vehicle insurance (also known as auto insurance, GAP insurance, car insurance, or motor insurance) is insurance purchased for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise therefrom. The specific terms of vehicle insurance vary with legal regulations in each region. To a lesser degree vehicle insurance may additionally offer financial protection against theft of the vehicle and posibly damage to the vehicle, sustained from things other than traffic collisions.


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