Three Ways Company Vehicles Business Insurance – What Are The Three Ways!!

Emery

There are some business insurance covers which are legally required.

One of them is the basic commercial vehicle cover. You can select from two other higher levels of cover as well.

It is important to note that even if you are using a privately owned vehicle for business purposes, it must be insured as a commercial vehicle. Take a closer look at the three main coverage options and select the most suitable one for you.

Business Insurance: Basic Vehicle Coverage

The basic commercial vehicle insurance covers only your third party liability. In case you are found to be responsible for an accident, the insurer will pay compensation to the third parties (members of the public) that have incurred property damage and/or bodily injury because of the accident. At the same time, this type of insurance does not cover your car in any way.

The basic business insurance for vehicles is mandatory so you will have no choice but to purchase it. It is up to you to decide on the cover amount. The more cover you can afford to buy the better since most people nowadays will hire a lawyer and try to get the maximum possible compensation from you.

The liquor store insurance will protect the store from the damage and destruction. If there is any damage, then you will get the best possible coverage in terms of finance. The covering of the financial loss is with the examination and survey at the store. It will provide the accurate results of the loss to the store.

This basic cover can give a good level of financial protection to your business but it does not cover your vehicle in any way. That is why it is considered to be insufficient for proper asset protection.

Business Insurance: Extra Vehicle Coverage and Cost

The second type of coverage is the third party, fire and theft insurance. It is pretty straightforward. It covers your third party liability. It covers the vehicle against fire and theft as well. Often, the coverage for the vehicle includes more hazards like vandalism, hail and others.

The asset cover is quite useful since you will get compensated if your vehicle gets damaged or goes missing. You will be able to afford a solution to the issue and your business will continue to operate normally.

The third option is comprehensive vehicle insurance. With it, you will get third party liability coverage and your vehicle will be covered against various hazards and for damage caused during a road accident. This insurance option is truly comprehensive. It is the most expensive and the most reliable and useful at the same time. You should definitely try to get it especially if your vehicle is in good condition and essential for your business operations.

You can easily decide on the best type of business insurance for your vehicle with the help of an expert in the field.

Health Insurance Companies and the Cost of Healthcare

Emery

About a year ago, my doctor and I discussed a surgical procedure that would alleviate some issues I have had over the past couple of years. Our discussion did not center on my well being as a patient, although that was the ultimate goal. Rather, it revolved around the cost associated with the surgery and whether or not health insurance would cover it. Unfortunately, this was not my first conversation with a health care provider regarding health insurance and probably won’t be my last. I have gone from having no health insurance coverage, while in college, to having a major HMO plan when I worked for a large corporation, to being covered, sporadically, while being self-employed. Moreover, medical insurance has become a necessity these days. You should also know how mental health problems can affect insurance cover which is why keeping yourself mentally and physically healthy is really important. 

After being married a few years, my husband and I learned the difference between insurance paid health costs and those costs paid, out-of-pocket. This happened when my doctor confirmed we would be having our first child. We were very excited even as we were directed to the doctor’s billing office to arrange payment. We were asked if we had health insurance. We did, indeed, have health insurance, but had learned that it did not cover maternity costs. We were told our cost to the doctor, especially if paid up-front, would be much less than if our insurance had covered it anyway. What we learned was that doctors and hospitals charge a much higher rate for those covered by insurance due to the extra costs they incur in having to deal with health insurance companies in the first place! We were shocked by this but were glad that our payment made that day was lower than it would have been had we actually had coverage. About a week later, we visited the hospital for a tour of the maternity unit and paid them for their upcoming services too.

Approximately eight months later, our baby girl was born via emergency surgery. After returning home, I received a bill from the hospital for around ten thousand dollars. I also got an extra bill from my doctor as well. I was devastated. We had just brought home our newborn baby and what should have been a joyous time, became a very stressful one. However, we quickly paid the doctor for his additional services and I began making monthly payments to the hospital. I was told that since emergency surgery was performed, that our insurance may end up paying part of the bill. I contacted our insurance company and they said, no.

Six busy months with our daughter had quickly passed when I got a call from the hospital. The lady on the other end of the phone said, “I see you have been making payments to us for a while.” Then she laughed and said, “With the rate, you’re going, this bill will take forever to pay off! We were mistaken in billing you as much as we did. You really only owe fifteen hundred dollars. Would you like to put that on a credit card?” She went on to tell me that they had inadvertently billed me the hospital’s “insurance rate”. I was relieved that I didn’t owe the larger amount, but it made me realize just how much the cost of healthcare was inflated due to the involvement of health insurance companies.

Being self-employed now, we have tried individual health insurance plans and they simply do not work. What I have found is, the monthly premiums start out at a somewhat reasonable rate, but they eventually increase dramatically in price after about a year. When we try to use the coverage for nothing more than a doctor’s visit, we are billed the insurance rate. That rate can result in much more money owed than if we had simply paid out-of-pocket in the first place. My experience with health insurance companies is that they have added a tremendous amount of cost and complexity to something very personal. When a doctor and their patient have to be concerned with the price of a procedure, rather than the well-being of the patient, it’s evident that the insurance companies have taken the care out of healthcare.

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