Open Journalism For All - News, Documentaries And Information Services

Reading auto insurance policies can be like trying to decipher advanced calculus. It’s really not that difficult if you understand a few basic terms. Collision, Comprehensive, Bodily Injury Liability and Property Injury Liability are the main terms you need to fully understand.

You’ll appreciate Collision Coverage in the event you need repairs or replacements if your vehicle collides with another vehicle or property. The higher the deductible you elect, the lower your premiums will cost you. If you’re at fault for something, well of course it would still be an accident, as I doubt you’d plan to run into that guard rail, but how much would you be able to afford to pay out of pocket for repairs? $250? $500? $1,000? Just like medical insurance, you’d have to pay that deductible amount first and then the insurance company would pay for the remaining charges for the repair.

Another term to become intimately familiar with is Comprehensive Coverage. This is the coverage that pays for damage caused from falling objects, fire, certain natural disasters, theft and vandalism. Deductibles work the same way as with Collision; the more out of pocket costs to you, the less your insurance premium.

In addition to knowing how much Collision and Comprehensive coverage you have, you’ll want to know about your liability coverage. Let’s say you rear-end another driver. Or your foot slips off the brake onto the gas pedal and you plow down a mailbox. Your liability coverage will kick in and pay for the damages that you caused with your insured vehicle. You liability coverage will, or could, include bodily injury (people) and property damage.

You don’t want to go without Bodily Injury Coverage. If you were at fault in an accident and others involved needed to go to the hospital and/or lost wages from missing work, those costs would come out of your pocket if you are not insured with Bodily Injury Coverage. It doesn’t take a genius to know how quickly those amounts can add up. This type of coverage can also help you in the event the other party takes legal action against you. Many states require you to carry Bodily Injury Coverage.

The other part of liability includes Property Damage coverage. Can you imagine how much it might cost should you accidentally drive into the side of someone’s home? You wouldn’t want to be caught without property damage insurance should you need to pay for repairs to another vehicle, building or anything else you might hit. As with Bodily Injury coverage, Property Damage coverage also helps protect you in the event of a related lawsuit.

Every policy will have its limits and various degrees of coverage. It’s important that you understand the basics of what you are paying for and why it is necessary. No one plans for an accident, be prepared!

www.Harley-Shopper.com

When the government tells you that you qualify for a tax
deduction, it is my belief that you should take it. Don’t claim
more than you deserve, but take everything you’ve got coming.
There is no honor in paying more taxes than you really owe. A
couple months ago I wrote about using your HSA to pay for dental
expenses. This month, I’m going to share some ideas on some
other tax deductions that you don’t want to miss out on if you
own an HSA.

Qualified Expenses

A partial list of qualified medical expenses is provided in IRS
Publication 502. There is no such thing as a definitive list of
“qualified medical expenses”, though there have been thousands
of cases involving the many nuances of what constitutes “medical
care” for purposes of section 213(d) of the Internal Revenue
Code.

According to the U.S. Treasury Department, virtually any expense
that is primarily for the prevention or alleviation of a
physical or mental defect or illness can be considered a
qualified medical expense. Any qualified medical expense can be
paid for tax-free using funds from your HSA.

Over-the-counter Medication

Most bathroom cabinets contain a bottle of Advil or aspirin,
perhaps some antacids, cold and flu medications, and other
over-the-counter medication. People who own a Health Savings
Account can pay for sleep aids, motion sickness pills,
throat lozenges, and most other over-the-counter medicines
tax-free from their HSA.

One of the things that we keep around is echinacea and
astragulus, two herbal extracts that are immune stimulants and
come in children’s flavors. Herbal medicines can be paid for
from your HSA only if prescribed by your medical practitioner.
Fortunately, HSA legislation puts very few restrictions on the
type of medical care you use, giving you, the consumer, the
power to decide how to manage your health.

Nutritional supplements

If nutritional supplements have been recommended by your medical
practitioner, to treat or prevent a specific condition, then you
may be able to use your HSA to pay for it. (You may not use your
HSA to pay for a vitamin taken for general health.)

As one example, there is a tremendous amount of evidence to
support the use of fish oil to lower the risk of cardiovascular
disease. In my opinion*, it is one of the most important
nutritional supplements for most people to take. In 2002, the
conservative American Heart Association even issued a scientific
statement saying:

Omega-3 fatty acids have been shown in epidemiological and
clinical trials to reduce the incidence of CVD. Large-scale
epidemiological studies suggest that individuals at risk for CHD
benefit from the consumption of plant- and marine-derived
omega-3 fatty acids, although the ideal intakes presently are
unclear. Evidence from prospective secondary prevention studies
suggests that EPA+DHA supplementation ranging from 0.5 to 1.8
g/d (either as fatty fish or supplements) significantly reduces
subsequent cardiac and all-cause mortality.

My healthcare provider recommends that I take fish oil
supplements to reduce my risk of cardiovascular disease, so I’ve
decided to pay for it from my HSA
account. I’m probably spending $5 or $6 a week on this
supplement, the equivalent of another $300 that I don’t have to
pay income taxes on. Not only am I saving money, but I’m also
reducing the chance that I may one day be hitting Medicare up
for a bypass operation. It’s win-win for everybody.

By the way, if you (and perhaps your doctor) decide you should
be taking fish oil, I recommend using a high-quality brand. Fish
oil is very fragile, and goes bad very easily. I’ve found
inexpensive low-quality brands cause one to burp up fish taste,
not a pleasant side effect.

Record keeping

To enable you to pay for small expenses like over-the-counter
medications directly from your HSA, many HS
A Administrators offer a debit card. You may also reimburse
yourself from your account if you paid with cash or a credit
card.

Those of you who read last month’s email know that I’ve decided
to reimburse myself from my HSA at a later date, giving the
account some time to grow, tax-deferred. So I’m throwing all my
medical receipts into a file labeled “un-reimbursed medical
expenses”, and whenever I am ready, I will reimburse myself from
my HSA.

Attention: This is not tax advice.

Remember, I’m not an accountant, and HSA for America is not
engaged in rendering tax advice. I’ve given you some examples of
how you can pay for over-the-counter medications from your HSA,
as well as for nutritional supplements under certain conditions.
If you’re uncertain as to whether an expense is primarily for
the treatment or prevention of a medical condition, then talk to
your own accountant or financial advisor.

My objective in this newsletter is to help you take maximum
advantage of your health savings account. Many accountants are
still not yet familiar with all the money-saving benefits of
HSAs, so feel free to invite your own accountant to subscribe at
http://www.health–savings–accounts.com/newsletter.htm.

If you still don’t have an HSA, please give us a call at
866-254-5121 and we’ll be happy to give you some options to
consider.

To your health and wealth,

Wiley Long President - HSA for America

For many people, Terri Schiavo was the face of an emotional struggle over the right to live and the right to die. It sparked a heated global debate and inspired even the most apolitical citizens to take a stand.

Last Will and Testament and Living Will

The point in the controversy over the Florida Woman who lay comatose while her husband struggled to withdraw and her parents struggled to continue life support is all too common and all to avoidable. It’s a struggle that doesn’t have to happen.

In a Living Will you can give information about what kind of decisions you wnt to be made in various situations and you can state whether you would want to have life support terminated, withheld, or withdrawn if you get into a terminal stage of a terminal illnes, an irreversable coma, or a progressive condition in which the burdens of treatment are greater than the potential benefits.

And in a health care proxy which can be included in a Living Will you can designate someone to make health care decisions for you if you can’t make or communicate your own decisions.

In short, creating an advance directive for health care is about caring for those who care for you. It’s a way to make dure your wishes will be honoured and avoid burdening family members with the emotional stress of having to guess what health care decisions you would have made.

You people don’t expect to need an advanced directive until old age. But critical health care decisions don’t always wait. Everyone needs a Living Will and they need to make one long before they anticipate health problems. You can’t authorize someone to make health care decisions for you if you can’t sign the piece of paper youirself. You have to do a health care directive while you’re competent.

Why Do People Avoid A Living Will?

Many neglect to create Living Wills because they are unaware of the urgency, others may avoid it out of a fear of confronting unsettling issues. We go through life liking to have as much control as possible over our bodies and our minds. Creating a Living Will means contemplating a loss of autonomy and independence which we all value. So to think of being in that kind of cognitive state is very disquieting, very anxiety arousing. It really representss helplessness, extreme vulnerability and a loss of control. Not to mention that contemplating dyig means a loss of connections to all our loved ones.

Thinking aboutr death also brings up tough philosophical questions that many people are afraid to consider.

A Living Will Does Not Contemplate Incapacity

Many people experience disconfort when thinking about topics like death and diability. But discussing your wishes with loved ones and documenting them in a Living Will will bring peace of mind to everyone involved.

Face it squarely, and don’t shrink from discussing it. The aim is to get everything settled in advance.

Ivon T. Hughes of The Hughes Trustco Group is a licensed Insurance Broker. Author of The Life Insurance Handbook. - Get a FREE Copy TODAY!
Email: info@trustco.ca Web: www.hughestrustco.com

Dental costs are becoming an increasingly significant health care expense and more and more people are making sure they are protected against these costs with a dental insurance policy. Dental insurance policies typically work in the same way as any other medical insurance policy. You will pay your monthly premium and this will entitle you to specific dental care procedures such as checkups, cleaning and x-rays. You will also be covered for other procedures that are deemed necessary to keep your teeth and gums in good health.

Comprehensive

As with all insurance policies, they will vary in what treatments they cover and how much they cost. While more expensive policies will give you greater benefits and allow you access to a greater range of services, cheaper ones will be restricted in what they cover and you will be required to contribute to the cost of procedures you require. If you think you will need dental surgery, oral implants, the services of an orthodontist and other more expensive forms of treatment, you will probably want to go for a more comprehensive policy.

One of the main differences between medical and dental health care is that children generally require far more treatment and expense than adults do. This is true right up through your child’s teen years when orthodontists’ bills can often be extremely expensive. You may therefore wish to cover only your children with dental insurance and you should check with your insurer to see if this is possible. While some insurance companies will allow children to have their own dental insurance policies, others will only insure them as part of an adult or family plan and if this is the case you will require to insure them with your own dental insurance provider and this may mean taking out dental insurance for yourself if you do not already have it.

Discounts

Another option offered by some insurance companies is to take a form of dental discount card. This is not dental insurance in the strict sense of the meaning but does provide you with discounts on dental treatment when you require using them. They can be a cheaper way of obtaining limited protection against dental costs and for this reason are growing in popularity. Not all insurers will provide them so shop around and see what’s on offer. As with all insurance, there can be great differences is what you will be offered for your money and considering that dental insurance can be a significant expense, it is wise to make sure you know what is available before you decide to opt for any policy.

Joseph Kenny is the webmaster of the insurance site http://www.insure121.com/ where you will find information, news and links to the leading providers of insurance in the UK. If you found this article interesting you may find more articles of the same nature in the insurance guide located on site.

For many years the process of purchasing a term life insurance policy meant meeting with an insurance sales agent and discussing available policies. This meant the buyer had to carve out time to meet with the agent, to listen to a variety of policy options that may not have been of interest to them, and to expose themselves to the potential of being “over sold” by a persuasive agent. The time-consuming process reduced the incentive to “shop” for the best rate and certainly led many to spend more than what was necessary for their term life insurance policy.

Today, buying term life insurance online offers an alternative to the traditional method of finding insurance. Term life insurance policies, in general, are relatively simple and streamlined. They are devoid of details requiring a great deal of discussion and detail and can be quickly understood and encapsulated, removing the need for an agent to assist in “interpreting” the product. The simplicity of term life insurance makes its online purchase very attractive. Although an important investment, term life insurance is not an especially confusing or complex product and can usually be fully understood by a reasonably well-informed consumer without expert assistance.

Buying term life insurance online provides consumers with a great opportunity to compare the policies and rates of many different providers simultaneously without the requirement of lengthy discussions and meetings with a host of agents. There are literally hundreds of internet sites where one can find policy details and price comparisons. A few keystrokes and mouse clicks are all that is required in order to evaluate an array of competing term life insurance policies. This unique advantage of using the internet to buy term life insurance represents a significant advantage over traditional buying processes.

Those who buy term life insurance online also find great rates on policies. Not only are they likely to find the best rates via comparison shopping, they are also benefited by the fact that offerings made over the internet direct to the consumer require less overhead investment on the part of the agent or insurance company than traditional processes. As such, rates are generally lower across the board. Buying term life insurance online creates a great means of saving money on a policy.

Additionally, buying term life insurance online is incredibly quick. There is no need to schedule visits with multiple agents in their offices. There are no long conversations about unrelated products or lengthy sales pitches about a new program. The insurance-buying process is streamlined and what was once a time-consuming hassle is transformed into a quick, easy means of searching out and purchasing a term life plan that perfectly meets one’s needs.

Old methods of purchasing term life insurance do not afford the efficiency, flexibility or cost-savings of finding the right policy online. Using the internet to purchase term life insurance policies is a great way for consumers to get what they really want quickly, inexpensively, and painlessly.

Evan C. Davis works in Medicare customer service and is the webmaster and owner of Easy Insurance Finder. Find out about cheap term life quotes online and low cost term life premiums at http://www.easy-insurance-finder.com.

Not everyone needs life insurance. The first thing to do is make sure you need it.
Life insurance is really meant for your family members or other dependents who rely
on your earnings.

Why You Buy Life Insurance

You buy life insurance so that, if you die, your dependents can live the same kind of
life they live now. Strictly speaking, then, life insurance is only a means of replacing
your earnings in your absence. If you don’t have dependents (say, because you’re
single) or you don’t have earnings (say, because you’re retired), you don’t need life
insurance. Note that children rarely need life insurance because they almost never
have dependents and other people don’t rely on their earnings.

Life Insurance Comes in Two Flavors

If you do need life insurance, you should know that it comes in two basic flavors:
term insurance and cash-value insurance (also called “whole life” insurance).
Ninety-nine times out of 100, what you want is term insurance.

Term Life is Simple to Buy and Understand

Term life insurance is simple, straightforward life insurance. You pay an annual
premium, and if you die, a lump sum is paid to your beneficiaries. Term life
insurance gets its name because you buy the insurance for a specific term, such as
5, 10, or 15 years (and sometimes longer). At the end of the term, you can renew
your policy or get a different one. The big benefits of term insurance are that it’s
cheap and it’s simple.

Cash Value is Trickier

The other flavor of life insurance is cash-value insurance. Many people are attracted
to cash-value insurance because it supposedly lets them keep some of the
premiums they pay over the years. After all, the reasoning goes, you pay for life
insurance for 20, 30, or 40 years, so you might as well get some of the money back.

With cash-value insurance, some of the premium money is kept in an account that
is yours to keep or borrow against. This sounds great. The only problem is that
cash-value insurance usually isn’t a very good investment, even if you hold the
policy for years and years. And it’s a terrible investment if you keep the policy for
only a year or two. What’s more, to really analyze a cash-value insurance policy, you
need to perform a very sophisticated financial analysis. And this is, in fact, the
major problem with cash-value life insurance.

While perhaps a handful of good cash-value insurance policies are available, many—
perhaps most—are terrible investments. And to tell the good from the bad, you
need a computer and the financial skills to perform something called discounted
cash-flow analysis. If you do think you need cash-value insurance, it probably
makes sense to have a financial planner perform this analysis for you. Obviously,
this financial planner should be a different person from the insurance agent selling
you the policy.

What’s the bottom line? Cash-value insurance is much too complex a financial
product for most people to deal with. Note, too, that any investment option that’s
tax-deductible—such as a 401(k), a 401(b), a deductible IRA, a SEP/IRA, or a Keogh
plan—is always a better investment than the investment portion of a cash-value
policy. For these two reasons, I strongly encourage you to simplify your financial
affairs and increase your net worth by sticking with tax-deductible investments.

If you do decide to follow my advice and choose a term life insurance policy, be sure
that your policy is non-cancelable and renewable. You want a policy that cannot be
canceled under any circumstances, including poor health. (You have no way of
knowing what your health will be like ten years from now.) And you want to be able
to renew the policy even if your health deteriorates. (You don’t want to go through a
medical review each time a term is up and you need to renew.)

Bellevue WA certified public accountant
& author Stephen L. Nelson CPA has written more than 150 books. His
bestselling book is Quicken for Dummies, which sold more than 1,000,000 copies.
His books have sold more than 4,000,000 copies in English and have been
translated into more than a dozen other languages.

Individual health insurance companies offer health insurance to individuals rather than groups. Some people don’t have the option of group health insurance because they are unemployed or their employer has no medical benefits. In these cases, an individual health care insurance company can be very helpful. They have rates and policies especially for individuals. Choosing a good individual health care insurance company can save you thousands of dollars in medical expenses. Count on spending a fair amount of time researching for the best quote from an individual care health insurance company.

By using the Internet, anyone can find individual health insurance companies. Search engines, health insurance information websites and insurer websites are just a few ways of finding quotes for individual health insurance companies. Since there are so many options to choose from on the Internet, it is better to look for individual health insurance companies you know. If you no insurers come to mind, ask people you know. You may even find some commercials on television or on the radio for an individual health care insurance company. Look at the websites for these insurers and see if you can get a quote online.

You may not know where to start when it comes to selecting the best individual health care insurance company. There are a number of factors that have to be considered. The individual health care insurance company will need to know if how often you go to the doctor and your family medical history. You will need to determine how much you can afford to pay the individual health care insurance company. Look at your budget. For the premium, expect to pay several hundred dollars a month for a family plan.

If you can’t understand the quotes and insurance lingo from individual health insurance companies, don’t feel bad. Sometimes it requires a professional to make a wise decision. Talk with a health insurance agent or representative. Ask lots of questions, especially about the terms of policies. You need to know how much you will be required to pay under special circumstances. You will also need to consider special coverage from individual health insurance companies for maternity and other expected future expenses.

Make sure that the individual health insurance companies that you get quotes from are legit. Don’t settle for the cheapest individual health care insurance company you see. It is important that you get the cheapest and most dependable of the individual health insurance companies. You will need to be able to rely on your individual health care insurance company to handle the bills should a medical need arise. Take the time to research your options and make sure they don’t have too many complaints. Don’t end up regretting the choice that you make.

Lots of adults now have critical illness insurance, but what about the children?

If you were unfortunate enough for your child to develop a critical illness it is very likely that you would need considerable time off work and probably a great deal of extra help too. If there are other children in the family, there will no doubt be child care costs to consider whilst you’re attending to a very sick child.

Insurance cover for children can start as early as 3 months of age with some insurance companies, although you may have to wait until the child is three before cover starts with others. Fortunately, with most policies, it’s standard practice to include your children, but you need to check on this to make sure. It is possible that your insurer will not offer this cover at all – National Westminster, Halifax and Nationwide Life being three of these.

If your insurers do cover your children within your policy, they will automatically cover all of them, so once the policy is in force there is no need to inform the insurer of the addition/s to your family. Similarly when you start your family the child will be automatically included when he or she reaches the specified age.

Assuming you are covered, the way critical illness cover works for your child is that a tax free lump sum will be paid out if your child is diagnosed with a really serious illness. This will need to be one included in the policy schedule. There is a proviso that the child survives at least 4 weeks from the date of the illness being diagnosed.

The usual payment is a proportion of the total insured value. If the insured total value is say £25,000, then Norwich Union, for instance, would pay out half of the insured sum or £10,000, whichever is the lower amount. They include step-children and make no distinction for adopted children. Standard Life and Legal and General are more generous, paying out up to 50%, but with a maximum payout of £25,000. Legal and General are somewhere in between, at £15,000.

There is a difference in the way the insurance operates when it comes to children. In the case of the main policyholder making a critical illness claim, the policy would pay out and would then be terminated. It would not be possible to make a second claim. Should there be a claim for a child, however, the cover will continue and the claim will have no effect on the policy of the main policyholder.

There are lots of advertisements via the internet for Critical Illness Insurance but because of the great variation in criteria it’s so easy to get it wrong. You’re not dealing with standard insurance and if you make the decision on cost alone, you may not be getting the cover which is right for you and your family. If you look at the insurer’s websites they will just offer their own policies so you’re not receiving comparative quotes. It’s probably unlikely that you’ll get and discount from any of the High Street Brokers. So where do you go?

The best answer will be to use a specialist critical illness broker. They’ll offer a comprehensive service, search for, and find the right policy for you and offer a discount too. You’ll find them on the internet if you look for “Critical illness insurance”.

It’s worth it for your peace of mind.

Express Life Insurance Cover are a website specialising in life insurance, mortgage insurance and critical illness cover.

When it comes to buying car insurance, it’s important to have an
idea of what you’d like to be included in your policy–otherwise
you’re more likely to be talked into purchasing more coverage
than you need. And increasing your auto insurance premiums is
probably something you’d like to avoid come renewal time.

So take a look at the coverage details below and keep in mind
that an educated consumer is a powerful consumer!

The Basics

Nearly all states require you to carry auto insurance to protect
you and other motorists on the road. Included in your auto
insurance requirements are coverages in the forms of medical
coverage or bodily injury and property damage.

Medical liability coverage pays for any damages to other
motorists injured or in an accident for which you’re at fault.
This coverage can be used to pay for medical bills, lost wages,
as well as any legal fees you might face.

Property damage liability, as the name suggests, pays for
damage you cause to other vehicles, as well as public or private
property such as fences, buildings or road signs.

But how much coverage should you have?

Every state sets its own minimum coverage amounts. For example,
in Arkansas, the state requires motorists to carry a minimum of
$25,000 in bodily injury coverage per person, $50,000 in bodily
injury coverage per accident and $25,000 for property damage.
These limits are traditionally presented in the format:
25/50/25. This is the format you will see as you compare
coverage amounts.

And while minimum coverage limits vary from state to state, most
insurers would strongly advice that you carry more than the
minimum amounts, especially when it comes to liability for
bodily injury. The Insurance Information Institute has
recommended that motorists carry $100,000 for bodily injury
coverage per person and $300,000 in bodily injury coverage per
accident.

Ultimately, the decision of how much liability coverage to carry
is up to you. Be sure to ask your insurer how much your premium
will go up by selecting higher coverage amounts–typically it
will only add a few dollars to your monthly bill!

Other Coverages

In addition to the coverages required by your state, there are
other protections you can add to your policy to maximize your
protection. The most common added coverages include collision
coverage and comprehensive coverage. Collision coverage
pays for damage to your car resulting from a collision with
another car or object. It can be added to your policy for an
added fee and typically carries a deductible. A
deductible is the amount that you pay out-of-pocket when filing
a claim before the insurer assumes financial responsibility.

If you financed the purchase of your car, it’s possible that
your lender will require you to carry collision coverage until
the loan is paid off.

Additional tip: If you see your premium inflate after
adding collision coverage, increase your deductible to see it
fall. Just make sure you select an amount you can pay for if you
have to file a claim!

Comprehensive coverage pays for damage to your car
resulting from anything other than a collision. This could
include anything from theft and vandalism to weather-related
damage from floods or tornadoes.

Like collision coverage, if you financed the purchase of your
car, your lender might require you to carry comprehensive
coverage. You will also need to select a deductible, which will
is likely to increase your premium.

Additional tip: After your car loan is paid off or the
value of your car drops to under a couple thousand dollars, you
can drop collision and comprehensive coverage and see a hefty
drop in your auto insurance rates.

Special Services

In addition to beefing up your coverage, you can also add
special services into your auto insurance policy.

Many insurers now offer rental car coverage, which
protects you from damages if you’re in an accident while renting
a car. Towing services may also be added to your auto
insurance policy for an additional fee. If your car breaks down
or you have an accident, the towing company affiliated with your
insurance company may tow your vehicle free of charge.

Windshield replacement coverage is another coverage which
has grown in popularity in recent years. If your windshield is
cracked or shattered, the coverage will pay for the windshield
to be fixed or replaced. Some insurers are now using windshield
replacement as an incentive–the cost to repair a chipped
windshield is much less expensive than replacing the whole front
window.

Additional tip: Check your benefits and coverages in your
car warranty and auto club membership to avoid doubling your
coverage on special services!

Applying Lessons Learned

Now that you know the popular coverages included and added to
auto insurance policies, you will have a better understanding of
what your insurer offers you, why he or she makes certain
recommendations and how to get the most out of your car
insurance policy. Use these tips in combination with careful
insurance shopping to find cheap car insurance with
great protections!

About InsureMe

InsureMe links agents nationwide with consumers shopping for
insurance. Specializing in health, life, home, long-term care
and car insurance quotes,
the InsureMe network provides thousands of agents with insurance leads For more information, visit InsureMe.com.

Who can you talk to about auto insurance? Insurance agents are a good source. However, due to their life lessons, their love, and their own financial responsibility, parents are an invaluable source to talk to about auto insurance.

Auto insurance is risk transference. This means you are transferring the risk of financial loss from an accident to a company for the cost of a premium. You should purchase the amount of insurance you can afford.

If you purchase too much insurance, you run the risk of not being able to make your monthly payments and your policy’s subsequent cancellation. And, as a result, you will have no insurance at all. If you do not purchase enough insurance, you run the risk of financial ruin when an accident occurs, when you could have afforded the extra coverage.

Insurance agents are a good source to help determine your insurance needs. They can explain the various types of insurance coverage to you. They can often offer you the types of coverage you are looking for to meet your financial needs. They can also find companies that are flexible when it comes to making changes to your policy when your insurance needs changing.

Insurance agents can give you other pertinent information about insurance companies. Part of their job is to answer questions you might have concerning insurance and the different types of coverage that are available to purchase for your vehicle. They are licensed by the state in which you live and they drive on the same streets you drive on so you should not be afraid to ask them questions.

However, parents are an invaluable source when it comes to getting advice on your car insurance needs. I realize that your parents were most likely raised in a previous generation and the gap from their generation to yours could lead to a viewpoint on life-matters which differ from your standpoint.

A difference in opinion between you and your parents is probably true on many matters. And as a result, this might have led to a decline in communication with them. However, their life experiences and closeness to you make them the perfect candidates to talk you about auto insurance. Their experiences over the years have given them an invaluable amount of wisdom. Also, since they love you, you know that their advice will also come from their hearts (besides their heads).

Besides their wisdom and love, parents may also have a financial interest in you. If you are a dependant or a minor, the state in which you live may hold your parents accountable if you are involved in an accident. As a result, they may require you purchase enough insurance to protect their financial assets as well as your own. And if they want you to purchase more insurance than you can afford, to protect their financial interests, they may help you with your premiums.

When it comes to discussing auto insurance, agents are a good source. However, due to their life experiences, their love, and their own financial responsibility, your parents are an invaluable source. Take a couple of minutes and ask your parents their thoughts on insurance. That couple of minutes might save you a couple of dollars, or a lot more, in the long run.

Visit http://www.carinsurance.com for Car Insurance

John Machmiller is a representative of CarInsurance.com. You can visit CarInsurance.com at http://www.carinsurance.com or contact them at 1-877-327-8728.

CarInsurance.com’s online insurance marketplace gives an opportunity to consumers and to insurance companies. We offer the ability to shop for car insurance online.

Consumers can receive quotes from many insurance companies, in some states you are able to purchase your insurance instantly, online. You don’t have to drive your car to buy car insurance. Buy online… anytime!