Reduce Your Monthly Budget By Eliminating Duplicate Insurance Coverage

[Quinton Becker]

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Article Title:
Reduce Your Monthly Budget By Eliminating Duplicate Insurance Coverage

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Article Description:
There's absolutely no sense in paying for the same
insurance coverage from multiple insurance companies. This
is an area where a lot of consumers could eliminate some
unnecessary spending from their family budget. This article
explains where to look for duplicate coverage.


Additional Article Information:
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648 Words; formatted to 65 Characters per Line
Distribution Date and Time: 2010-04-27 10:30:00

Written By: Quinton Becker
Copyright: 2010
Contact Email: mailto:quinton...@thephantomwriters.com



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Reduce Your Monthly Budget By Eliminating Duplicate Insurance Coverage
Copyright (c) 2010 Quinton Becker
Maxroo
http://maxroo.com/updates/



There's absolutely no sense in paying for the same insurance
coverage from multiple insurance companies. This is an area where
a lot of consumers could eliminate some unnecessary spending from
their family budget.

The two main areas to look for duplicate coverage is medical
coverage and road assistance plans.

About Personal Injury Protection (PIP) Insurance

Keep in mind that some states require residents to carry Personal
Injury Protection (PIP) insurance, with their automotive
insurance. If your state requires PIP coverage, then this will be
an item that you cannot eliminate from your automotive insurance.

PIP insurance is required in any state that utilizes "no-fault"
automobile insurance laws. No-fault automotive insurance was
developed in Canada in 1947, on the premise that it would result
in quicker settlements of claims and that it would reduce premium
costs because it lowered legal fees and court costs.

A few U.S. states began to adopt "no-fault" automotive
insurance, as a result of spiraling insurance costs.
Massachusetts was the first in the United States to adopt
"no-fault" automotive insurance laws. Since then, the District
of Columbia and 11 additional states have adopted "no-fault"
insurance. Besides Massachusetts and the District of Columbia,
"no-fault" states include: Florida, Kentucky, Kansas, Hawaii,
Michigan, New Jersey, Minnesota, New York, Pennsylvania, Utah and
North Dakota.

If you do not live in one of the "no-fault" insurance states,
then you are not required to carry PIP insurance. If you have a
good health, life and disability insurance policy, chances are
that you already have PIP coverage with your health insurance
policy. If your health insurance policy provides PIP coverage and
you are carrying PIP insurance coverage on your automotive
policy, then you are duplicating your PIP coverage, across two
policies.

If you are duplicating your PIP insurance coverage, with your
health and automotive insurance policies, and you are in a state
that does not require PIP coverage, then you can save money by
eliminating the duplicate coverage under your automotive
insurance policy.

Avoid Duplication of Roadside Assistance Protection Plans

Another area where duplicate coverage is common is with a
roadside assistance protection plan. Many drivers already have a
roadside assistance plan, in conjunction with their credit card
or in an automotive extended warranty package.

If you already have road assistance protection through another
source, then you should definitely not purchase one through your
automotive insurance carrier.

In fact, it is also recommended that you should never purchase a
road assistance protection plan from your automotive insurance
carrier, period!

Some insurance companies will consider a request for a tow truck,
under your roadside assistance plan, to be the same as a claim
against your primary auto insurance policy. In other words, the
insurance company may consider a request for a tow truck, as a
negative mark on your auto insurance policy, just as if you were
involved in traffic accident.

Because it is so easy to find roadside assistance protection
plans, from a multitude of sources, most consumer watchdog groups
strongly recommend that you should purchase your roadside
assistance plans from anyone, who is NOT your primary auto
insurance provider.

GAP Coverage

One final possibility for overlapping coverage is if you already
have GAP coverage through your credit union or other financial
company. In essence, GAP coverage is a loan/lease payoff
protection plan. If you already have GAP coverage through another
source, then you definitely do not need the loan/lease payoff
protection plan offered to you by your automotive insurance
carrier.

In Closing...

During our current recession, consumers are on the lookout to
find where they can cut unnecessary expenses from their family
budgets. Duplicate insurance coverage, as described in this
article, should provide a good starting point for eliminating
unnecessary expenses.

But to be honest, even if we were not in the midst of a
recession, you should take care not to pay for the same coverage
through different insurance carriers...




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When comparing auto insurance quotes, be certain that you are
always comparing apples-to-apples. When you understand what your
auto insurance quote covers, you can make an educated decision
about which auto insurance company is offering you the best value
for your money. You can get auto insurance quotes from several
local agents at: http://maxroo.com/updates/auto-insurance-quotes/
Oklahoma residents can get quotes and find insurance agent phone
numbers at: http://CheapOklahomaAutoInsurance.com/
Written by Quinton Becker.


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