So, with the costs of ALL insurances rising, where do you draw the line at how much "what if" protection you need? My father in law used to say "Insurance is a bet. They are betting you won't, you are betting you will."

We increased collision deductibles on car insurance, between that and the new rates, we now insure three cars for the price we used to pay for two.

Did the same (increased deductibles) with homeowners' insurance last time to keep costs down.

The new job, charges more weekly for a single policy for health insurance than the other place, (forget buying a family plan 10K/year!!!) and for MORE $, you can get dental, but no company contribution to that. Is dental insurance really worth it? Granted it would be nice not to have to pay for a $1K+ cap or root canal, but we've gone all these years not even having it available...we'll see. One of us is now getting dental insurance and it's not me.

Disability insurance - not available at new job. I've got some request for quotes out there, but I have the feeling what I would like to have in coverage on my sweet is going to be more than we can afford. I think other polices that are more affordable, will be more "show than go."? Is that worth 1K per year for what I think might be minimal coverage if he got sick?

Life insurance - yep, we have some, but not much and at age, we have been "rated" and downright rejected in the past for more. Guess we keep what we have.

So, how's your "what if" coverage/budget?

 

I have health and dental currently. I really like the dental coverage but I have a feeling that with reasonably healthy teeth it might not be the best value.

Car insurance currently have a $1,000 deductible but as soon as I split the policy to insure only my two cars I am dropping it to $500 AND will be paying less for the same coverage (except having rental since with 2 cars I figure I really don't need that).

I have no life insurance I am worth more alive at this point

 

You know how I feel about insurance

I would be screwed if it weren't for it. I bet that "I will", and I did! I paid $44/mo for three months prior to hurting my knee, and now that insurance policy is going to pay out over $11k when all's said and done. I still thank my lucky stars that I took that policy out when I did.

I am not big on high power vehicle insurance though. Enough to cover me safely without cutting corners is fine with me. I don't go with the minimums, but I am not over insured either.

 

You are much more likely to get injured at work than a Parts Guy, so the policy you bought makes sense. Rick was able to work within a week of his shoulder surgeries, had he been in your line of work, then that would not have happened.

Financially speaking, my concern is more long term illness, vs, out of work for a few weeks/months due to injury. That kind of insurance gets expensive!

Oh, and check your auto coverages carefully. Any homeowner should have at least 100/300 in bodily injury coverage. In today's litigious society, many more accidents seem to bring forth a lawsuit and the personal injury lawyers...100K, might sound like a lot of coverage, but if you have a bad accident and people are injured, even 100K might not be enough.

 

I have a good bit of insurance... but maybe not enough.

I have the best family health plan available from work. I will be cutting down to the next plan down this year. I knew I was going in for a lot of work last year so I knew the cost would be worth while. The next plan down will save us $$$ unless there is a hospitalization of some time frame, but the cap out of pocket costs arent too bad.

We have family dental too. The plan sucks, but isnt too expensive.

Short Term Disability is free. I pay for LTD for a reasonable fee.

I pay for a supplemental life insurance plan through work for 5x annual salary. These are not recommneded for long term planning but its cheap and Ive been at this job 12 years, I hope many more. Plus being a past smoker I cant afford more right now but I do plan on adding a term life policy at some point.

 

[QUOTE=SHUG,Apr 7 2008, 10:16 AM]I have a good bit of insurance... but maybe not enough.

I have the best family health plan available from work.

 

I have looked at SBLI. I am waiting to get to a couple years as a non smoker. I am at 11+ months, so its not too far off.
I also will wait until my wife is back to work in about a year or less. (I hope)

 

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SBLI! FTW!

 

Does SBLI want to sponsor my race car?