When was the last time you sat down and really thought about your insurance cover? Let’s face it, it isn’t exactly on the weekly to-do list for a variety of reasons, so it isn’t. It is surprising that many are unprepared when an emergency arises. Remember, you don’t have to live in an area prone to major disaster (i.e. living in an earthquake or hurricane-prone area) to suddenly realize that your current insurance coverage is woefully out of date.
Getting insurance is certainly a daunting task for many, but because it’s more or less a necessary evil, I have Listed a number of key factors to consider when you finally take the time to keep your coverage up to date.
Pre-existing medical conditions and full disclosure
Before any coverage is approved, an insurer will review all applications. Be honest about everything and include any medical history, because in most cases the insurer will find out anyway, and if they do and you haven’t mentioned them you could be denied coverage, even if the insurer doesn’t do. recognizes a pre-existing condition that you have not mentioned and is approved gt – still unclear. The reason is if you ever file a claim before paying they will review your history and if they find out something worse.
While many companies do not insure pre-existing conditions, some will do so, but only with a 30, 60, 90, and 120+ waiting period, while others are required by law to have “Guaranteed Issue” policies. a detailed list of pre-existing conditions, the exclusion period, and the type of coverage that will be granted after the exclusion has ended.
Of course, rates are important, but remember to get quotes for policies with the same type of coverage. Get a copy of all of the quotes so you can see the type and amount of coverage in each category, then make sure that every quote you get is based on the same amounts of cover so you can, as the saying goes, Compare Apples If you get a deal that is way below what other companies have to offer, make sure it’s legitimate by asking how they can offer coverage at such a low price. The answer may be that a certain company specializes in a certain type of coverage and therefore offers it at a much lower price, but even here, if it’s too good to be true, it usually is. So remember, a good dose of skepticism will go a long way.
Dealing with Independent Intermediaries
Many independent insurance brokers are treasure troves of valuable information across the insurance industry, but perhaps most importantly, they can also provide you with feedback from other customers on a particular insurance company and its products, and customer service.
You are the boss so do it your way
Since you and your family will have to live with the consequences of the insurance coverage you choose, it is really imperative that you think about your wants and needs before deciding which one to choose Cover to choose. One question you might want to ask yourself is: How important is the ability to choose your doctor for you? If it’s not a problem, then maybe an HMO would be a great way to save costs. On the other hand, if you have a favorite doctor and you definitely want to see them, you can consider the more expensive PPO.
Whichever company you ultimately choose, it is important that your insurance products and options grow with you and your changing needs. Therefore, a civil protection company may not be the best course of action when you want to have children.
Some other important factors to consider when choosing coverage are: surcharges, deductibles, customer service, and rate increases.
Combination or additions
Combination or combination of several covers together. If this feature is important to you, you need to make sure that it is an option offered by your insurance company. An example of a combination of “add-on” would be the combination of short and long-term disability, medication coverage, or dental and visual aids in one package.
Deductible and CoPay
Always look for the fine print and ask about it. Some good questions are, “What are your copay options?” or “Is there an annual limit on copays?” or “Do the limits cover a period of 365 days, or do they last?
You should always look for companies represented with the Better Business Bureau and if access to a local agent is important to you, make sure they have a local office. If not, give the company a call and familiarize yourself with the waiting times. , Opening times and services via telephone and internet.
Unexpected rate increases
Ask your friends about their experience with the company. Have you had problems with service or tariff increases in the past two years? This will be a pretty decent measure of the possible course changes that you can expect in the future.