NLIC.org

Leslie Said:

how to get a cheaper insurance premium?

We Answered:

There are many factors which are used by the insurer to calculate the risk and so the premium they charge for car insurance - these are mainly;
1 Age and sex of the policyholder (who must be the Main driver, and registered keeper) and that of any additional drivers.
2. The cars age, mileage, value, insurance group, security and the companies own claims history for that vehicle
3. The occupation of the policyholder and any named drivers
4. The claims history of any drivers
5. The licence details of drivers (endorsements, length of time held)
6. Where the car is normally kept overnight (is it the policyholders address? on road is more expensive than on a drive which is more expensive than in a locked garage.
7. What use will the car be insured for, social and domestic is the minimum but if commuting and use for the policyholders business or their employers business is added the price increases. If used to commute where is the car to be parked when there - on road or in a car park.
8. Does the car have any modifications from the standard factory fresh condition like alloy wheels or performance enhancements - some insurers will refuse to cover modified cars, some will increase the price and some will cover them but only for return to standard.
You need to tell the full truth about everything asked and inform them of any changes to any of the details disclosed as the policy goes on - failing to do that can render it null and void.

Some younger drivers consider putting the car and insurance in a parents name with the parent as a fraudulent main driver and them as an occasional named driver to cut the premiums. This common scam is called "Fronting" and is an illegal act which can get parent and son/daughter into a lot of long lasting expensive troubles.

Most insurers offer a monthly payment scheme and most need about 15% up front to start the cover. the scheme is usually in the form of a loan and so interest is charged - this can be as much as 25% APR. This is usually at rate which is higher than most credit cards even charge so look at other ways to borrow the money to spread the cost if possible as it will be cheaper.

Victoria Said:

Does anyone know of a high deductable, low premium health insurance?

We Answered:

Most health insurance companies offer these catastrophic/major medical insurance plans. As you are probably aware, many people are combining high-deductible health plans (HDHPs) with health savings accounts (HSAs). HSAs allow you to put aside money to be used for qualified medical expenses. The money you contribute is triple tax-free: contributions are tax-deductible, interest earnings are not taxed, and withdrawals are tax free as long as they are for qualified medical expenses. Not all HDHP qualify for a HSA, however.

If you want to quickly comparatively assess local health plans and speak to state-licensed health insurance agents without cost or obligation, check out MostChoice.com. You can find it here:

http://www.mostchoice.com/health-insuran…

Hope this helps,
Barnes@MostChoice

Roberto Said:

is there good low premium home insurance after you've had claim?

We Answered:

~~These days people shop around looking for better premiums and switch insurances often. This can really hurt in the long run because when you have a claim especially a major one, they really hike their rate on you. My brother did insurance hopping and ended up unable to get coverage because of filing a large claim. He ended up with a horrid premium just to get some coverage. We have been with State Farm (homeowners) since 1976. We have had one huge claim, and several smaller ones. Our premiums have never been raised because of them. Longevity with a company can save you allot of money when it really counts. So as for the answer it really depends on past history on what premiums will cost.~~

Kelly Said:

Are there health insurance plans that are low premium, high deductible?

We Answered:

You might consider enrolling in a “qualified” High Deductible Health Plan (HDHP). This is health insurance with high deductible amounts, so it costs less than traditional health insurance. Under federal law, the minimum deductible in a HDHP plan is $1,100; the maximum deductible is $5,500 for an individual (and $11,000 a family).

The advantage of an HDHP is that you can shelter up to $2,850 for an individual from state and federal taxes in a Health Savings Account (HSA). Depending on your tax bracket and where you live, that could save you as much as $1,499 in taxes per year, assuming a combined tax rate of 52.6%—9.3% in state income tax (California), 28% in federal income tax, and 15.3% in self-employment Federal Insurance Contributions Act (FICA) tax. Another way of looking at it is that an HSA doubles your buying power, since you are using pre-tax dollars to pay for deductibles. The contributions you make to an HSA are yours to keep, rolling over each year. The funds are not taxed, provided you use them to pay medical expenses or withdraw them after age 65. The funds earn interest on a tax-deferred basis. Think of it as an IRA that you can use to pay out-of-pocket medical expenses.

To find a qualified plan, you should speak with a health insurance broker. A broker works with several insurers and can find the best plan, rates and coverage. To find a broker, log on to a website like http://www.healthinsurancewiz.com and fill out a form requesting a free quote. Your information will be sent to a broker in your area who will contact you. Good luck!