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Information On Insurance for the Trucker

    Jensby Winstead
    By Jensby Winstead

    Having insurance should present you with peace of mind. Unfortunately, some insurance companies make an effort to exploit you, avoid their responsibilities, and take your money without providing you with your due benefits.

    Knowing these under-handed tactics will get you ready to better navigate the insurance plan field and select a provider you are able to trust when unforeseen circumstances arise.

    To assist you you'll need, here’s a very important guide on five common ways insurance agencies try to swindle you.

    #1. Unexpected Renewal Price Hikes

    Some insurance agencies try and catch you off-guard, raising the cost of your plan at renewal time without you noticing.

    These insurers make it a point to hook you in with a too-good-to-be-true offer, followed by a sneaky price hike without having explanation of the you’ve completed to deserve a greater premium.

    #2. Low Deductibles, but High Rates

    Some providers attempt to persuade you to choose a low-deductible policy, assuring you you’ll pay less out-of-pocket in the eventuality of any sort of accident.

    What you don’t let you know is the math. Deciding on a lower deductible over lower premiums means you pay more within the long-run-unless you’re an incredibly accident-prone driver.

    Let’s say a broker sells that you simply $100/month policy on the grounds that you’ll only pay $250 for just one accident.

    However if you simply were to pick a $50/month policy and pay a $1,000 deductible, you’d save $450, assuming you should only get one accident annually.

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    So unless your driving skills leave much to become desired, you’re more satisfied using a higher deductible/lower premium plan.

    #3. Understating Your Vehicle’s Value in a Total Loss

    In case your car’s an overall loss, your policy may cover a substitute or even the cash price of a similar car.

    Some companies try to sell you short by understating your vehicle’s value, pointing to trivial details like paint chips and dings.

    Maybe, insurers low-ball you with a “comparable” vehicle-one containing thousands more miles around the clock.

    Even though low mileage is a vital factor in your vehicle’s value, some insurance carriers intentionally read over this fact so they can short-change you in case of a major accident.

    #4. Flood vs. Wind Damages

    Having coverage for hurricanes is essential for homeowners in Florida and also other storm-sensitive states.

    Unfortunately, some companies try to make the most of affected homeowners by seeking to mischaracterize wind damage as flood damage.

    Always be conscious of what your insurance does and doesn’t cover, and thoroughly document the type and extent of injury to your residence.

    #5. Inadequate Coverage of Out-of-Network Visits

    For visits to out-of-network doctors, insurers generally pay a proportion of the they consider a “reasonable and customary rate” for healthcare providers within the area-rather when compared to a proportion in the bill.

    The catch is when some insurance firms manipulate your data where they assess “reasonable and customary” rates in order to pass more of the cost onto consumers.

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      Jensby Winstead

      Jensby Winstead