INCREASING YOUR DEDUCTIBLE
“Your recent column on deductibles reminded me of what I found researching the cost of an individual health insurance policy last fall. In the most extreme case, to go from a $500 annual deductible to a $200 deductible, the monthly premium went from $115 per month to $194. The possibility of saving $300 in expenses increased the annual premiums by $948 or by 316%. Other policies had increases of 176%, 200% and 232% to go from a $500 deductible to $200.” – Erik Sten
A.T.: Moral? Check your current insurer (for health or auto or homeowners) and find out how much you could save going to a higher deductible. Often, it’s worth it.
“Another reason not to file a claim if the amount is slightly more than the deductible: I recently had to replace a broken windshield. The first thing they asked was whether I had insurance or not. The cost for replacement if they billed the insurance company – $850. If I paid out of my own pocket – $200.” – T.K.
A.T.: Depressing, no? And even where it’s not fraudulent, there’s a point to be made. My convertible roof was just slashed (again). To get a new roof is $1,500. To get a waterproof patch is $50. Because it’s a beat-up old car by now anyway, it would be dumb to go for anything but the patch. Yet by buying ‘comprehensive’ insurance (which I don’t), I am in effect paying a premium that not only covers the insurer’s overhead and profit, but also covers all the people who DO go the $1,500 route. (Well, it’s insured, so why not?) Yet another reason to self-insure, when you can afford to, and make your own economic choices.
* * *
MORE TELEMARKETING TALES
From Uvarov: “A friend of mine said he told a telemarketer, ‘My favorite show ends in 10 minutes. Hold on and we’ll talk.’ The caller said, ‘FOR TEN MINUTES!!!’ He got rid of the telemarketer.
“I was a telemarketer in high school. The first call I made, inviting the woman and her husband to a dinner, she said, ‘If you don’t know, my husband is dead, and you shouldn’t be calling.’ Ouch.”
Quote of the Day
There they go. I must follow them. I am their leader.~Gandhi
Request email delivery
- Apr 20:
Billy Is Such A Tool
- Apr 18:
In Search Of Common Ground
- Apr 17:
- Apr 16:
Be Audacious Tonight — 8pm Eastern, 5pm Pacific
- Apr 15:
Doctors And Patriots Versus My Friend Paul
- Apr 12:
Davd Leonhardt On Climate Change
- Apr 11:
Tax The Rich?
- Apr 10:
270 Or Bust
- Apr 9:
It Took 99 Years, But H.L. Was Right
- Apr 8:
It Takes All Kinds
- Apr 20: