To use your health or auto insurance you don’t have to suffer a very serious illness or suffer a major accident; These have coverage that you can use in your day today. We always hear the same thing: insurance is financial tools that we must have, never to use them. That is, we must prepare for the worst and hope for the best.
This sounds great because it gives you a sense of control and protection; Having life insurance, medical insurance, or auto insurance covers, more than your expenses in a loss, your inner peace during all the time you are safe.
Just think- If a costly event happened to most people at least once in their life, insurers would be no business. When considering risk statistics on a large scale and even at the level of the risk that exists in your family, some coverage they are worth it, but most are not. So, if you don’t understand and don’t know your policy, you will pay for a service that – most likely – you will never use.
My recommendation is not that you do not buy them, but that you use them as much as possible, even if nothing serious happens to you (and I hope nothing serious ever happens to you). How? Here are some tips:
Know the exclusions or conditions of waiting periods of your insurance
Waiting periods are more common for health insurance. One clause that you will find in most policies is pregnancy. In general, insurers establish that 10 months must elapse after you purchased the insurance to cover your pregnancy and the expenses derived from it, as well as your baby.
There are also diseases for which you are not covered until a certain time passes. And if there is pre-existence, that is, if you had a risk factor or have suffered from the disease before contracting the insurance, it is most likely that they will exclude it from your coverage.
Understand the deductible payment perfectly
The deductible is less complicated than it seems and the same rule applies for medical or auto insurance: the higher the deductible, the lower the policy cost; the higher the cost of the policy, the lower the deductible payment.
The deductible is a percentage or amount that you pay to your insurer in case of an illness or accident, in addition to the monthly payment of your policy. The top of this depends on the type of coverage you hire; In the case of health insurance, it depends on factors such as the level of hospitals where you can be treated.
Take advantage of your health insurance details
Many Medical insurance large expenses include small-scale benefits such as discounts on labs, dental services, doctor visits to your home, or even eye operations. Know if your coverage includes them and if not, ask about them, they may cost you a little more, but they are services that you will really use.
Use the assistance of your auto insurance
Meanwhile, auto insurance includes services such as towing or mechanical assistance. The next time something happens to you in the middle of the road, do not wait for a good Samaritan, call the insurance company that costs you so much.