ArticlesReader.com

 

ArticlesReader.com Menu
Newest Articles
Most Viewed Articles
ArticlesReader.com RSS
Submit Article
Login
Signup
Search the articles

Articles Main Categories
Advice
Animals
Automobiles
Business
Career
Communications
Computer Programming
Computers
Entertainment
Environment
Family
Fashion
Finance
Food
Health & Medical
Home & Garden
Humor
Internet Business
Internet Marketing
Legal
Leisure & Recreation
Marketing
Other
Politics
Reference & Education
Religion
Self Improvement
Sports
Technology & Science
Travel
Writing
Subscribe
Receive alert message from us when new articles submitted to our site for free.

Enter your name

Enter your email

Syndicate

















Related Products
Home::Insurance

What the insurance companies aren't telling you about your premium

Author : Marcus Dubois
Although insurance companies offer peace of mind to the policy holders, it is important for all customers to remember that they are for profit companies, and accordingly your own personal interest is not their number one priority. Consequently, any insurance company will capitalize on every opportunity to extract money from its customers. The primary source of income for an insurance company is the premiums which it levies from its customers.



The premium is the fee which keeps the insurance policy alive. Each company collects the premium on a regular basis. The policy holder is expected to pay the premium on time. Delayed payments may lead to consequences such a fine or even termination of the policy. If a lapse in your payments does take place, this will render the earlier premiums paid by the policy holder useless. So, in order to reinstate oneself, the policy holder might even have to renew the entire policy.



There has also been a recent trend of policies being sold at inflated prices by a few agencies. Some of these companies that claim to be consulting organizations fail to ask important questions such as salary and mortgage details that are essential to assess the appropriate cover. So, an ideal solution to this problem would to make selling of insurance more transparent. But like all practical solutions, it is not in everyone’s interest to do so. As a result, insurance companies have lobbied congress men and women very heavily to ensure that despite the benefits of transparency, obscurity remains the law.



Another problem with insurance that is often never disclosed by sellers, is that the insurance premium is also very unstable. The rates may even change between consecutive billing cycles. For example, a driver with a recent accident history will have a pay a much higher premium than a regular driver. Such a driver will be left with no other option but to pay a high premium, since insurance has been made mandatory for driver in many states.



Insurance premiums are also very relative. They are based on extensive research and statistics. For instance, a policy holder who smokes might have to pay as much as twice the amount paid by a non-smoker. Some companies also have a provision wherein the premiums are reduced if the policy holder changes his habits. However, evidence based on medical tests will have to supplement this argument. Premiums may also fluctuate according to market trends.



As stated previously, it is not always in the best interest of the insurer to be up front with you regarding the many pitfalls which surround the purchase of insurance. However, by understanding not only some of the omissions as well as grasping the underlying motivations of insurers customers can be must better situated to make good decisions regarding their insurance needs


Article Source: http://www.articledashboard.com





Marcus Dubois is a veteran in the insurance industry, and recommends InstaQuoter to get an instant insurance quote. See www.instaquoter.com/ for more information





Spam emails More free articles

Related articles


  1. Factors That Affect Your Car Insurance Premium
  2. Seven Steps to Filing Your Car Insurance Claim
  3. Which Car Should You Own To Keep Your Insurance Rates Most Affordable?
  4. Is Your Auto Insurance Company Rated?
  5. Term Life - Who Needs It?
  6. Save Big Bucks on Your Car Insurance
  7. Senior Health Care Insurance
  8. What Is Term Life Insurance?
  9. What Is Renter's Insurance Really All About?
  10. What Is Permanent Life Insurance?
  11. How Do I Calculate How Much Life Insurance I Need?
  12. How Much Renter's Insurance Do I Need?
  13. What Do You Mean My Auto Insurance Policy Doesn't Cover This!!
  14. How Do I Lower My Auto Insurance Premiums?
  15. Homeowners Insurance Coverage
  16. What Is Health Insurance?
  17. A Few Things Everyone Should Know About Disability
  18. Insurance and The Engineer
  19. Insurance Claim Handling Online - TPA Adjuster System
  20. Cheap Car Insurance
  21. Choosing Buy-To-Let Property Insurance
  22. Cheap Health Insurance Rates and Personal Health Insurance
  23. Choosing Affordable Health Insurance For Children
  24. Insurance For The Self Employed And Those Seeking Health Insurance
  25. Insurance Credit Scoring: An Ethical Issue
More related feeds
Frugal mom's 5 ways to save money - 1/08/09 - San Francisco News ...
More than a third of drivers say they never shop for car insurance. Evaluating your car insurance regularly is a great way to save. If you've moved, gotten married or bought a home, check with your insurance company - you may be ...

Radical Ideas to Improve the House of Medicine #2 « WhiteCoat Rants
For all of you with insurance who met your deductibles last year - think of your mindset last month. Didn’t you want to get all of your medical testing and treatment done before the end of the year so you didn’t have to pay the ...

Financial steps to take if you’re laid off - The Middletown Press ...
“File for unemployment as soon as you’re eligible,” Chadwick says. “Human Resource departments will typically state how the severance affects your unemployment insurance. See if you have stock options through your company and find out ...

Insurance — healthspanews.com
As Shastri says “some patients call over 40 companies before they find us”. Or else they end up not disclosing their condition; Alan Bowen advises all clients “you must disclose your condition and previous treatment”. ...

Geico Insurance: - Telecaster Guitar Forum
OK....until someone hits you from behind on a highway and you can't get outta the way... I've been in your buddy's situation before and learned that his beef is with the other driver, not either insurance company - even if it is the ...

What the insurance companies aren’t telling you about your premium
Although insurance companies offer peace of mind to the policy holders, it is important for all customers to remember that they are for profit companies, and accordingly your own personal interest is not their number one priority. ...

Serious Tricks to Save on Car Insurance « PIC Current
If you have a good driving record, check with your insurance company and tell them you feel that you deserve the best rate possible. Do your homework and shop around for other insurance companies and compare rates. ...

Why Big Finance Is Laughing All the Way to the Bank | Corporate ...
Well, you can bet the insurance company will send one of its investigators to research this claim. In doing his research he'll discover my clumsy sceme and likely prefer charges against both myself and my assessor buddy. ...

This Is Not Your Father's Buick | The Truth About Cars
If you want premium, buy a Cadillac. If you want value, go to the Chevy dealer. I they need to have something to keep the Buick and Pontiac dealers alive, then go with the Opel Brand and strip away the GM logos. ...

DetN Lopez: Hybrids Suck | The Truth About Cars
PeteMoran, they’re the TV commercials–hugely popular–for an insurance company, Geico, with the tagline that it’s so easy to buy that “even a caveman could do it.” And then you see a hirsute “caveman” in contemporary dress griping about ...