Your once ever so “cheap insurance quote” just went up! Time to board the shopping train!If you are looking for car insurance quotes in Ontario, you better get your hiking boots on because the FSCO has agreed to a price hike and it affects almost everyone who is reading this right now. The Financial Insurance Services Commission of Ontario is allowing an increase to insurance rates for all of Ontario.Car Insurance quotes may be a little or a lot higher than normal in comparison to previous years. Insurance companies in Ontario have filed for a rate increase beginning the first quarter of 2008 with an approved increase to insurance rates. Nearly 44% of the car insurance market in Ontario has had rate changes approved which will affect car quotes for all consumers.The rate change affects’ the average Ontario insurance policy by 2.42% and that is if you have a clean driving record. The government is saying that Ontario Car insurance according to the Financial Insurance Services Commission Ontario is long over due for a increase and decided to approve one.The Ontario car insurance rate changes approved for the first quarter of 2008 became effective in the first quarter of 2008 or later for 2008 renewal policy business. Therefore, consumers will not know that they have had a rate increase until their policy renews.The impact of a rate change on an individual consumer basis will likely be substantially more than 2.42%. The increase will depend on where the consumer lives, the type of car he or she is driving, and other risk characteristics involved such as driving record of people operating the vehicles. FSCO promises that they will continue ensure that insurance companies’ rate changes are reasonable and justified. They will ensure that the rates insurers charge are balanced and have a strong ability to meet their future claims costs.Insurance brokers need to know quite a few details to get your insurance rate down to a reasonable amount.Tips to help save money on your insurance quote:-Accept higher deductibles, try a quote with $1000 collision and $1000 comprehensive-Install an aftermarket car alarm system, this will earn you close to 20% discount off your comprehensive coverage, boomerang is one example-Combine your automobiles and home, condo or tenants insurance policies together to receive additional discounts-When possible, use public transportation, this will keep your annual kilometers down and change your insurance class to a pleasure use driver and this will reduce your rates further-Sign up for a Drivers training course that is recognized by the Ministry of transportation and is an approved driver training course-Don’t modify or customize your car-If you have an older car and will pay for physical damages yourself, you should opt out for comprehensive and collision coverage and request third party liability only to protect you in the event of a lawsuitTips for the next car you think of buying:Make sure you check out that used car thoroughly aside from the mechanical looks of it, you can check the VIN number through the MTO by ordering a used car package. If the person wants to sell you the car they need to provide it to you. By doing so you will be able to contact the previous owner to find if there are any hidden faults about the vehicle.
“Health is Wealth”. Well, this is a statement which everyone knows and there is no second thought about its relevance. Still, how many of us really take care of their health?Taking health is another matter, what about covering risks which are not under our control. There are several exogenous factors which can impact your health in an unwarranted manner.You can eat well, exercise and take care of your health in all possible ways. But you do not really know what is happening inside your body and what kind of health ailment you can come across over a period of time.God forbids that anyone of us comes across any problem in life. But, at the same time, it is wise to account for any health related risks.If someone gets to know about his or her illness, then obviously he or she would like to go for the best possible treatment. There is no escape, and you want the best health care services for yourself. The same applies to your loved ones as well.You always strive to get high quality products and services for yourself and your family. You make efforts to get the best possible mobile phone, car, and house. And when it comes to your well being, there is absolutely no choice but to avail the standards of highest standards.My employer provides health insuranceIn corporate hubs like Gurgaon, Mumbai or Bangalore, a large number of people work with great companies. These companies provide health insurance services to their employees.Their employees are covered under group insurance schemes. A company has to pay a relatively less cost to get this service. It acts as an added benefit to the employees. At the same time, employees get assurance of health care coverage without any hassles. Some companies charge their employees for this, many do not.So, are you one of those corporate professionals who are covered under a group insurance scheme? If yes, then is the cover sufficient? Maybe not!The cost of health insurance plans is rising. This holds true especially for group insurance schemes. Most insurance companies have reported huge losses from group insurance schemes.It is seen that insurance companies offer health and life insurance cover at unrealistic prices and undercut in order to get the business and develop their client base. Many times, the premium price does not support the magnitude of claim settlement. This results in losses.Recently, even the Insurance Regulatory and Development Authority of India (IRDAI) had taken cognisance of this matter and warned insurance companies to avoid unrealistic pricing.Now you would wonder why are we discussing this? Well, the case in point is that insurance companies are asking for higher premium rates. But if the employers are not ready, then naturally, they will ask to slash on services rather than increasing the prices. This means that your group insurance scheme may not cover many things.What should you do?Do check with your employer about the exclusions. Today, the government is offering many tax benefits on buying health insurance. You can claim tax benefits of up to Rs 25,000 in a year, towards payment of health insurance premium.Once you know about the exclusions of your group health insurance scheme, strike out a policy which covers them. The idea is to supplement your existing group insurance plan.Further, also check what are the benefits and limitations with respect to spouse, kids and parents. There are possibilities that you would like to go for an additional health insurance plan for them as the group insurance schemes go very low on parents and dependents.Taking a risk in this regard can be very dangerous. Health insurance schemes can be availed easily and the kind of costs at which they are available is also quite logical. So, why to bluff with yourself and ignore things which matter the most?