Choosing The Right Health Insurance PlanChoosing The Right Health Insurance Plan


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Choosing The Right Health Insurance Plan

Hello, my name is Eric Coleman and I've written this blog to inform others about health insurance. Purchasing this type of insurance can be confusing, but it is very important that people know exactly what their insurance policy covers. When I was ready to purchase my health insurance, I didn't have any idea about what type of coverage I needed. Before I visited an insurance agent, I did hours and hours of online research to learn insurance terms and to find out about the kinds of policies that are available. The insurance agent also answered my questions so that I would fully understand what I was buying. Since getting the right health insurance is so important, I decided to write this blog to help others understand what type of policy they need and what is covered.

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You Can Save On Car Insurance After Retirement

When you retire, a lot changes, including how much you pay for car insurance. Although you may not realize it when you stop working, there are several things you can do to lower your auto insurance cost. Learn more about what you can do.

Shop Around for Rates

By retirement age, you likely have a long, established relationship with your insurance company. Between the comfortability of this long-term relationship to work demands, you may have paid little attention to other options. Now is a good time to do so. Insurance companies routinely change their rates and discount options, so before you automatically renew, collect additional rates from other providers to see if you are getting the best option.

Adjust Commute Estimate

The common train of thought is that the more you drive, the greater your chance of being in an accident. As such, the higher the mileage you provide for your commute estimate, the costlier your policy rate. Now that you are retired, you will likely drive less, and consequently, reduce your accident risk. Ensure the insurance company knows that you are no longer making this commute so they can adjust your mileage, and possibly your rate. 

Enroll in a Driving Course

As a person ages, sometimes, their risk rating will increase with car insurance companies. Although defensive driving courses are often targeted towards new drivers, if you take one of these courses in your senior years, it is equally helpful. Insurance companies care little about the age of the driver completing the courses, just that the drivers successfully complete them. If you complete a defensive driving course and provide the documentation to your insurance company, you will likely get a discount.

Consider a Deductible Increase

If you plan to reduce your driving considerably and you have a comfortable retirement income, you may want to consider increasing your deductible. Insurance deductibles commonly range from as little as $250 to $1000, but regardless of the amount you select, the higher the deductible, the lower your cost of insurance. If you have a healthy savings amount and would have no problem paying a little extra in the event you were involved in an incident, you can save yourself money by increasing this amount.

If you recently retired or plan to do so soon, make sure you speak with an auto insurance professional to learn about more ways you can lower your costs.