Health insurance is now available to more Americans than ever before. Subsidized options are easily available to low-income individuals and families. In the past, many people took the risk of not being insured, but with the Affordable Care Act (ACA) you can be fined if you don't have qualified health care insurance. Instead of paying a fine, people who have not been able to afford insurance before are looking for affordable medical insurance options.
Be sure to take an inventory of all of your personal belongings inside the home, value them, and calculate what it would cost to repair or replace your stuff if they’re damaged, destroyed, or stolen by a covered loss. Most of the top home insurance companies will provide checklists, calculators, apps, and other resources to help you keep track of and protect your belongings.
To help you figure out if you should purchase collision coverage, you should estimate the approximate value of your vehicle. While there are a number of online resources that can help with this, including Kelley Blue Book, we recommend you speak with a State Farm® agent. In addition to helping you determine the value of your vehicle, our agents can tell you how much extra you'd pay to add collision coverage.
Texas is one of four states that have seen the highest increase in auto insurance premiums over the last seven years, according to Consumer Reports. While part of that jump is due to increased repair costs for the added technology in new cars, extreme weather also plays a role, with Hurricane Harvey a recent glaring example. Over half a million vehicles flooded in Texas during that storm, significantly raising insurers’ annual losses for 2017, and in turn, causing around an 8% jump in premiums this year. Add the fact that Texas is number one in the nation for hail damage losses, and its position at the top of the rate hike leaderboard is no surprise.
For extra information on car insurance rates, U.S. News also worked with Quadrant Information Services to provide a report of average insurance rates in all 50 states from the 10 largest national car insurance companies. The rates are based on profiles for both male and female drivers aged 17, 25, 35, and 60. Vehicles used include the 2018 Honda Civic, 2018 Toyota RAV4, 2018 Ford-F-150, 2015 Honda Civic, 2015 Toyota RAV4, and 2015 Ford-F-150, with annual mileage of 6,000 and 12,000. Three car insurance coverage levels were used, as were credit tiers of good, fair, and poor. Clean driving records and records with one accident, one speeding violation, and one DUI were also used in the calculations. The rates shown here are for comparative purposes only. Individual rates will differ.
The Patient Protection and Affordable Care Act of 2010, more commonly known as Obamacare, impacted healthcare in the United States in numerous ways. The act's effects vary by person, but you'll need to have health insurance for at least nine months out of every 12 or be subject to a tax. There are exceptions to this rule based on financial hardship, your income and living situation. But in general, whether it's through Obamacare or not, you should have health insurance.
Next, take a good hard look at your driving record and credit report, and clean both up if they’re not in good shape. Moving violations, citations for driving under the influence, accidents, and a low credit score all tell car insurance companies you’re at higher risk of being in an accident, making a claim, and costing them money. Some car insurance companies will give you a discount if you can prove you’re a safe driver by installing a tracking device in your car, which can lead to lower rates over time (however, if the tracker shows you routinely drive in an unsafe manner, your rates might go up). A few years without a citation or an accident, as well as a steadily improving credit score, can help you save on car insurance.
You can also save on car insurance by choosing the lowest amount of coverage you can get while still making sure that you’re meeting your state’s legal requirements for insurance and giving yourself the coverage you need if you’re in an accident. For example, let’s say you choose to get the legal minimum for liability coverage, which we’ll say is $30,000 for this example. If you are at fault for an accident that hurts someone, resulting in $100,000 in medical costs for them, you will be on the hook for the $70,000 difference between your insurance coverage and the harm you caused. You can be sued and lose assets, like your home or retirement savings, if this happens – so make sure you have enough insurance to keep your assets in the event of an accident where you are at fault.