Tag: insurance deductibles

Florida House Bill 13 Aims to Shake Up Home Insurance in the Sunshine State

G. Turner
Citizens Insurance Focus - home insurance

Expanding Citizens Insurance to Address Windstorm Damage Florida is no stranger to the wrath of hurricanes. With the state regularly experiencing some of the costliest natural disasters in the United States, reliable home insurance has become both a necessity and a challenge. Enter House Bill 13, a proposal that could significantly alter the insurance landscape. Sponsored by Rep. Hillary Cassel of Broward County, this legislation seeks to make Citizens Property Insurance Corp. — a state-run insurer — available to all Florida property owners for windstorm coverage. The bill primarily targets…

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How Rising Auto Insurance Costs Are Changing the Way We Buy Cars

John Bowers
man worried about Auto insurance cost

Rising Auto Insurance Costs: A Growing Concern for U.S. Drivers Auto insurance premiums in the United States have reached record highs, raising concerns about affordability for many Americans. A recent study by Jerry revealed that eight out of 10 U.S. drivers believe auto insurance has become prohibitively expensive for the average person. Even higher-income earners, those making more than $129,000 annually, are feeling the pinch. Nearly half of them have been shopping for better rates, while over half have opted for reduced coverage heading into 2024. This steady climb in…

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Skyrocketing Car Insurance Rates Drive Drivers to Pay Repairs in Cash

H. Cutner
Paying in Cash for Car Repairs

As car insurance premiums continue to soar, drivers are finding alternative ways to manage their expenses. With rates expected to rise by at least 20% in 2024, many are opting to bypass the claims process altogether and pay for repairs out of pocket. Understanding the Shift: Why Drivers Are Avoiding Claims A recent survey by LendingTree reveals that about 40% of drivers are choosing to skip the traditional claims process, opting instead to handle minor repairs in cash. This trend is largely driven by the fear of increased premiums and…

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Gap insurance is on its way back

Nordstrom
gap insurance

This additional coverage is gaining popularity among people with high deductible health plans. Before the Affordable Care Act, gap insurance plans had been quite commonplace. However, after the health insurance exchanges opened for business, it looked as though those additional plans were fading away. At the moment, it looks as though those gap plans are starting to make quite the comeback. As the premiums for insurance plans continue to rise, more people are looking to save money by choosing cheaper coverage. They are opting for high deductible health insurance in…

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Health insurance deductibles are on the rise in the United States

Logan B.
cash money subsidy health insurance deductibles

Consumers are facing higher deductibles for their health care plans More people than ever before have been able to acquire health insurance coverage, particularly through exchange marketplaces, but they are beginning to encounter a problem they may not have expected: Growing deductibles. Deductibles for employer-sponsored coverage have grown by 67% since 2010, according to the Kaiser Family Foundation. HealthPocket, a health plan comparison site, shows that the average deductible for the least expensive coverage available through exchanges stands at $5,700 for 2016. Deductibles are higher for policies with low premiums…

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Employer-sponsored health insurance is becoming more expensive

S.Vagus
covered care open enrollment

New report finds that workers in the US are paying more for their insurance coverage The Commonwealth Fund has released a new report that has found that the rate of growth in health insurance costs for employer-sponsored coverage has grown significantly since 2010. While the Affordable Care Act has helped mitigate the rate at which insurance premiums and costs have grown, it may not have provided significant financial benefit for individuals receiving coverage through their employers. As such, employer-sponsored insurance coverage is becoming more expensive for workers. Premiums are growing,…

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Homeowners Insurance: Deductibles Debunked

Guest Author
Homeowners Insurance

When it comes to purchasing homeowners insurance, choosing the right deductible for your home may be a tricky decision. There are many different types of deductibles and it is easy to get confused by the amount of options available to you. If you are stressing out over picking the right deductible for you, then this article will explain the different terms you may come across when making this vital decision. Percentage Deductible Quite often, a property’s deductible is calculated not by its dollar value, but by a percentage value. The…

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