INSURANCEINSURANCEwhat you need to what you need to

knowknow

Car InsuranceCar Insurance

• Deductible – How much you have to Deductible – How much you have to pay before the insurance company pay before the insurance company begins to paybegins to pay– Typical deductible is $500Typical deductible is $500

Liability – Covers damage to someone else Liability – Covers damage to someone else and their car (minimum coverage by law)and their car (minimum coverage by law)

Comp & Collision – Covers your car and Comp & Collision – Covers your car and injuries injuries (full coverage)(full coverage)

Car insurance Car insurance

• Things you can adjust:Things you can adjust:– Deductibles: $250, $500, $1000, $5000Deductibles: $250, $500, $1000, $5000– Coverage: you can change the Coverage: you can change the

maximum amounts that the insurance maximum amounts that the insurance company will pay for each accident company will pay for each accident ( the lower the amounts, the lower you ( the lower the amounts, the lower you pay a month)pay a month)

– Rental carRental car– GlassGlass

WebsitesWebsites

• Allstate.com – Use the Ballpark Allstate.com – Use the Ballpark figurefigure

• Progressive.comProgressive.com• Geico.comGeico.com

Health InsuranceHealth Insurance

• Terms to know:Terms to know:• PPO – You can go to any doctor you wantPPO – You can go to any doctor you want• HMO (network) – must choose a doctor HMO (network) – must choose a doctor

from their list or you’ll pay extrafrom their list or you’ll pay extra• DeductibleDeductible• Co-pay – How much you will have to pay Co-pay – How much you will have to pay

for an office visit, ERfor an office visit, ER• Coinsurance – What % you will have to Coinsurance – What % you will have to

pay after your deductiblepay after your deductible• Typical is 20%Typical is 20%

CoinsuranceCoinsurance

• If your deductible is $1000 and If your deductible is $1000 and coinsurance is 20%coinsurance is 20%– You pay the first $1000 and then 20% of You pay the first $1000 and then 20% of

everything else up to a certain amount, everything else up to a certain amount, usually another $1000.usually another $1000.

– This means you will pay up to $2000 if you This means you will pay up to $2000 if you have to go to the hospitalhave to go to the hospital

Easiest website is Easiest website is ehealthinsurance.comehealthinsurance.com