It has been statistically established that a large portion of road users are not insured. This is a great financial problem on the roads today. One of the largest contributing reasons for this is that most people do not find it financially affordable to pay towards a car insurance premium every month.
The truth is, if done correctly, one can probably afford to pay a premium for their motor vehicle. People do not realize the danger of driving without car insurance! Hunting around properly and compiling helpful quotes from as many different reputable companies as possible will go a long way in reflecting the affordability of a car insurance policy. When you are looking for a car insurance policy you will find that you are faced with two options. Firstly they will offer you an annual escalating rate, or a fixed rate. An annual escalating rate is a car insurance premium amount that will rise either yearly or whenever the interest rate state changes.
This will usually be a cheaper premium as it follows the trends of the interest rate of your country. The problem is that when the interest rates go up, the insurance premium will rise as a result. The nice thing, of course, is that when the interest rate (or rather, IF) the interest rate comes down, you will pay less. This can create a sense of unease, especially if you are the type of person who likes to be certain about the amount of money they will have to pay for their monthly bills.
A fixed rate is usually the more expensive option as they will charge you one flat rate for your premium regardless of what happens with the interest rate. This provides more stability than an annual escalating rate, and even if you are paying more every month than with that one, you will be happier with the stability that it brings. Regardless of which type of car insurance premium you decide to go with, you will at least have the peace of mind in knowing that your vehicle is covered. In order to obtain the most affordable policy possible you need to make sure you are shopping around and asking lots of questions.
Who Should Consider Long Term Care Insurance?
1. You have a large amount of income or assets and feel you probably would not qualify for Medicaid.
2. You don't want to rely on assistance from the state or other sources such as relatives.
3. You can afford to pay the premiums. (Depending on your tax situation there may be tax benefits.)
4. You currently have health problems or have a family history of a long term illness. (Once you have a long term illness or long term disability you probably would not qualify to purchase a policy.)
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