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Auto Insurance

Commercial Auto Insurance and Personal Auto Insurance
Keeping Auto Insurance Premiums Low
Take Advantage of Insurer Websites
Am I The Only One That Thinks Auto Insurance Rates Are Freaking Ridiculous?!
Flustered About Auto Insurance?
Auto Claim DENIED…WTH!!!
How much auto insurance do I need?
Do all states have a mandatory auto insurance minimum?
How do I get the best policy value for my money?

Health Insurance

Health Insurance Decisions
Do you need health insurance?
Indemnity Plans
Health Insurance Dissected…Lighten Up!
5 Things Every Health Insurance Policy Holder Needs to Do Now
Tips for Working with Customer Service
What are the most popular types of health insurance plans available?
What exactly does my health insurance premium pay for?
What is a main hospital plans?

Home Insurance

Renters Insurance Stripped
Whose Home Insurance is Responsible?
Umbrella Insurance
Expecting Home Insurance Premium Increases
5 Steps Home Insurance Policy Holders Must Take Now
What Home Insurance doesn’t Cover
Do I have to have home insurance?
How do I get the homeowners policy that gives me the best value for my money?
What if someone is injured on my land?

Life Insurance

Don’t Screw Up Your Life Insurance!
The Case for Term Life
Lying to Insurers
It’s Time To Stop Bashing Life Insurance Coverage! Have You Got A Better Solution?
Should You Sell Your Soul To The Insurance Company In The Pale Moonlight?
Do You Need a Trust?
How much life insurance do I need?
How do I get a life insurance policy that offers the best value for my money?
Should my spouse and I have separate life insurance coverage?

Watch Those Deductibles America!

According to Reuters on Friday, September 17th, the Federal Reserve shared data that showed that U.S. household wealth had fallen by a total of 1.5 trillion dollars during the second quarter of 2010.

Net worth, in case you aren’t aware, is the difference between your assets and your liabilities. When you add up the value of everything you own and all the cash you have, then subtract the debt you owe, you will arrive at your net worth.

Net worth falling can mean many things – it may mean that debt is rising, cash savings are falling, or that values for investments like homes are lowering. But either way, it means that Americans have less access to money than they did before.

This might mean that it is time to double check all the deductibles on your insurance policies. After all, if your net worth is falling then you might not have as much money as you once did to pay for your deductibles. And borrowing money to pay deductibles (or charging them) makes them even more costly that they are to begin with because you must then pay interest on them.

So check your homeowners insurance, your health insurance and your auto insurance policies and add up all the potential deductibles you could be paying out-of-pocket in the event that you are victim to an insurable incident. If you do not have enough accessible cash to pay these deductibles then you might want to get new insurance quotes to see if you can find a less expensive policy with a lower deductible. While this may seem like jumping out of the frying pan and into the fire, it may actually be easier for you to pay the added monthly cost than the bulky deductible. But before you make any firm decisions, be sure to evaluate each option.

September 23, 2010

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