Gap Insurance: Read the Fine Print

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A few weeks ago I wrote how happy I was with the decision to purchase gap insurance for my daughter’s car.  The insurance company evaluated the vehicle as a total loss due to damage incurred from an accident. I owed more than the market value of the car, and was told gap insurance would pay the difference. However, the letter received from the insurance company had me rethinking the value of gap insurance. Read the Fine Print The letter said no payout was required from the gap insurance claim due to the loan being satisfied through a clause in the […] Read more »

Insurance Company Claim Difficulties? Keep Calling, and Calling, and Calling

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It’s been over three weeks since my daughter’s car accident, and I feel like I’m in insurance company wasteland. Initial Claim Handling At first, things moved very quickly. The insurance company adjuster looked at the car within days, and declared it a total loss. One week after the accident I had a settlement statement emailed to me, and had signed the title over to the insurance company. My insurance company indicated that’s all I needed to do, and payment would be sent to my lender promptly. I had contacted my gap insurance provider and started a claim. They told me […] Read more »

Medical Insurance 101: Explanation of Benefits, Negotiated Rates, Deductible and Out Of Pocket Maximum

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A few weeks ago I tore the Achilles tendon in my right foot. I was seen at a walk in clinic, had an MRI, had surgery a few days later and have had 2 followup visits since. As you might imagine the medical bills are starting to roll in, and I’ve had a crash review course in how medical insurance works. Here are some of the concepts and terms you’ll hear when dealing with medical insurance. Explanation of Benefits (EOB) You healthcare provider sends information about your visit to your insurance provider. The procedure(s) done are given a code as […] Read more »

Insurance Companies Are Not Your Friend

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  Insurance companies portray themselves as friends who are there for you in your time of need. However, the reality is they’re a business. Their number one priority is making money, not what is best for you. I’ve been dealing with a hail damage insurance claim since May for exactly this reason. Original Claim The first round of our hail damage insurance claim didn’t turn out well. The adjuster originally approved to have one side of our home resided and the front side of our roof shingled. The explanation given was only one side of our home and the front […] Read more »

5 Steps To Dealing With Storm Damage To Your Home

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The sound of heavy rain from a summer storm suddenly included the occasional loud thump on the roof, or against the side of the house as gusting wind hurled the bits of ice against it. It was hailing. When the storm passed everyone in the neighborhood inspected their homes for damage. Over the next few weeks, trucks with home repair company’s names on the side drove up and down the streets knocking on doors. They introduced themselves, asked if the home had any damage from the storm, and promised to help the homeowner get as much out of their insurance […] Read more »

Cost Comparison: Emergency Room vs Urgent Care

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The batter hit a towering fly ball to shallow right center field, allowing me to run in from the outfield and get in position to make the catch. Unfortunately I didn’t get my glove up in time and the ball struck me in the face. The ball left a nasty gash below my left eye that obviously required stitches. Even with my head throbbing in pain knowing I needed medical attention, I wondered about the emergency room vs urgent care cost comparison. Urgent Care A good rule of thumb of when to go to urgent care is when the condition […] Read more »

What is a Deductible?

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If you’ve dealt with insurance before, you’re likely familiar with the frequently used term deductible. But if you’re just starting your life as an independent young adult, or if you’ve never filed claim before you may not be familiar with this term. All types of insurance, including medical, homeowners, and automobile insurance have deductibles. What is a deductible, and how does it work? What is a Deductible? A deductible is the amount of a bill you are responsible for. Example: You get into an accident and your car is damaged. The repair bill is $3000, and is covered by your […] Read more »

Pharmacy Mistakes Can Cost You!

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Medical care is expensive enough, I don’t need mistakes increasing the cost even more. However, that exact scenario almost happened picking up a prescription for my son last week. Had I not noticed it, not only would have cost me money, but it could have compromised my son’s care. I walked out of the pharmacy with a small bag holding a refill of my son’s prescription. As my son drove out of the parking lot, I took the bottle out of the bag noting to myself the bottle was much smaller than the last time I had the prescription refilled. […] Read more »

Nobody Cares About Your Insurance Benefits But YOU

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Don’t think for an instant that insurance companies care about saving you money on your medical expenses. It’s your job to make sure they cover everything your plan provides, and that the money actually gets where it’s supposed to go. If you don’t, you could pay hundreds or thousands of dollars too much out of your pocket. My daughter got braces on her teeth earlier in the year. Our insurance provides orthodontic coverage of 50%, with a lifetime maximum benefit of $2500. Each month the orthodontist sends the insurance company a bill for $229 and in return the insurance company […] Read more »

Insurance Enrollment for 2017 is OPEN!

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That special time of year is upon us again, my friends. I’m not talking about the holidays, the change in season, or even the start of the NFL season. Enrollment is open for next year’s insurance selection. Millions of Americans are pouring over plan benefit sheets and plan price comparisons trying to make the most cost effective selection for themselves or their family. Many will simply take the option to renew whatever they had last year, leaving the only interesting action to find out how much their bill will go up when January rolls around. That may end up being […] Read more »

Why Batman Will Get Better Life Insurance Than Jabba the Hutt?

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  Editor’s note: This is a sponsored post that contains affiliate links. Okay. Strictly speaking neither Batman, nor Jabba the Hutt need to have life insurance. It is not what you think: they don’t need life insurance not because they are fictional charters: this only making me feel a bit weird discussing this. Batman doesn’t need life insurance because he is wealthy enough so that if something goes wrong all his affairs can be put in order. Jabba the Hutt may not be as obviously wealthy as Batman. In Jabba’s case, the important matter is that he has no apparent […] Read more »