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For many, auto insurance is a significant monthly expense. In some cases, you may be tempted to get rid of the payment entirely by foregoing auto insurance coverage. However, doing so can have some serious negative consequences.
When it comes time to renew your auto insurance, do you simply stay with the insurer that you’ve known and trusted for years? For some, this works out fine. For many, however, this is a costly mistake. If it’s been a while since you’ve shopped around for auto insurance, you could be throwing hundreds of dollars away.
Your auto insurance needs are unique, and your policy should be also. Knowing the right questions to ask your auto insurance agent as you’re building a policy can help ensure that you get great coverage at a great price.
To determine your premium, your auto insurance company uses a complex algorithm that takes countless factors into consideration. Some of those factors are obviously related to driving, such as how many speeding tickets you’ve had and when you received your last one, the age and type of vehicle you drive, and how many insurance claims you’ve filed in the past.
An auto insurance deductible is the amount that you pay out of pocket for damages to your vehicle before your auto insurance company covers any accident-related expenses. Different auto insurance companies offer different deductibles, which customers select when they’re signing up for an auto insurance policy.
While auto insurance can be pricey, Nevada Insurance Enrollment can help you find the right balance between great insurance coverage and an affordable auto insurance premium. Understanding the options available to you, what coverage you’re required to carry, and evaluating your exposure to risk are good first steps.
Auto insurance coverage can be confusing, largely because insurance laws and requirements vary greatly from one state to another. As a Nevada driver, you’re required to carry liability insurance in the amounts of 25/50/20 (learn more about state minimum coverage here). However, in states like Arizona where coverage runs cheaper, state minimum coverage is a little skimpier.
According to a recent study, health insurance premiums could increase for individual plans on the ACA marketplace between 35 and 94 percent by 2021. Concern over health care is nothing new; in fact, this is the fifth consecutive year that Americans have ranked health care as a top concern.
At least for now, many aspects of ACA are still in place. Currently, an insurer can’t turn you away for a pre-existing condition, and long-term health insurance plans still have to provide coverage for ACA’s 10 essential health care benefits. Prior to 2010, private health insurance usually did not cover maternity, or preventative like it does now, and mental health was generally non-existent.
Health insurance, which has always been a topic surrounded by confusion, is doubly complicated as coverage requirements have evolved in recent years. Among the most significant changes was the individual mandate that was put into place under the Obama administration.
Nevada has taken the first steps toward an in-house enrollment site (Nevada Health Link), which would offer a better user experience and significant cost savings over Healthcare.gov. However, some experts see the merit in the switch, others are concerned that it will be a repeat of the 2014 fiasco.
In April of 2017, the Nevada Senate approved a bill that will nearly double the minimum liability coverage limits. Beginning on July 1, 2018, drivers will be required to carry at least $25,000 in bodily injury liability, $50,000 in bodily injury liability per accident, and $20,000 in property damage liability.
The good news is that even those with very limited incomes can get low-cost health insurance or even free medical coverage through the Affordable Care Act’s Marketplace health insurance plans, often referred to as Obamacare, or through Nevada Medicaid.
The majority of health insurance companies have a contract with a network of hospitals and other providers. In this contract, there are negotiated rates for different services. This negotiated rate is generally lower and sometimes significantly lower than what a provider would charge someone who is paying out of pocket.
If your health insurance company refuses to cover a claim, you have the right to appeal the decision and have it reviewed by a third party. Your policy should outline how to appeal a denial.
Guaranteed issue means that the health insurance coverage is guaranteed to be issued to applicants, regardless of their medical history, their age, their gender, or any other factors that might increase their likelihood of using health services.
The good news is that even those with very limited incomes can get low-cost health insurance or even free medical coverage through the Affordable Care Act’s Marketplace health insurance plans, often referred to as Obamacare, or through Nevada Medicaid.
The majority of health insurance companies have a contract with a network of hospitals and other providers. In this contract, there are negotiated rates for different services. This negotiated rate is generally lower and sometimes significantly lower than what a provider would charge someone who is paying out of pocket.
If your health insurance company refuses to cover a claim, you have the right to appeal the decision and have it reviewed by a third party. Your policy should outline how to appeal a denial.
Guaranteed issue means that the health insurance coverage is guaranteed to be issued to applicants, regardless of their medical history, their age, their gender, or any other factors that might increase their likelihood of using health services.