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Proven Non-insurance Strategies that Lower Risk and Can Lower Your Auto Insurance Costs



1. Obey traffic laws, including the speed limit — laws designed to reduce both the frequency and severity of automobile accidents.

2. Perform regular safety maintenance of your vehicle (brakes, tires, steering, lights).

3. Purchase a safer vehicle that is highly rated for low damageability and passenger safety.

4. Pay extra for added safety features like air bags or antilock brakes.

5. Always wear your seat belt and insist your passengers do too.

6. Buy the highest-rated child safety seats and always uses them. Take behind-the-wheel defensive driving classes.

7. Require your teenager to have at least 30 hours practice behind the wheel on his permit under all sorts of driving conditions before allowing him to get a driver’s license. No one can ever develop the skills needed to be a safe driver in just a few hours of mandatory driver’s education.

8. Allow your teenager to drive based upon your determination of his or her ability to responsibly operate a car — regardless of when your state says your teenager can drive. The teen who behaves immaturely and irresponsibly out of a vehicle usually behaves in similar fashion in a vehicle.

Make Sure You're Covered When You Retire

Articles from Umar Hafeez. All about Insurance.

If you’re looking to retire soon, it's good to look ahead and try to determine if your medical expenses will be adequately covered in retirement. Many Americans don't discover the gaps in their Medicare coverage until it's too late, and they are forced to pay out of their own pockets for medical expenses they assumed would be covered.

Medicare coverage requires that you meet certain deductibles before coverage begins, and you must pay significant co-payments for many types of medical treatment. In addition, traditional Medicare does not offer a prescription drug benefit.

Because of these deficiencies in Medicare coverage, you may wish to consider purchasing a supplemental medical insurance policy called Medigap. Medigap is specifically designed to fill the gaps in your Medicare coverage. Although Medigap policies are sold through private insurance companies, they are standardized and regulated by state and federal law.

Under federal law, there are ten standard Medigap plans, each of which must cover certain specified services. Medigap policies pay most, if not all, of your Medicare coinsurance amounts. Some also provide coverage for deductibles and services that are not covered by Medicare, such as prescription drugs and preventive care.

Because Medigap policies are standardized, there is no need to compare provisions of the policies offered by various insurance companies. However, you should still compare the insurance companies themselves, as an insurance policy is only as good as the company behind it. In addition, Medigap premiums will vary from one insurance company to another, so you may want to do some research to find the best rate.

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