Auto insurance can help protect your vehicle and save you from health expenses and legal liabilities if you are ever involved in an accident. However, searching for the perfect auto insurance policy can require careful consideration of various factors. Evaluating different policies, terms, and conditions is important to avoid costly mistakes. Here are five common lapses to avoid when shopping for car insurance to ensure you make the best choice: What does auto insurance offer? Auto insurance typically covers damages and losses from a car accident or other incidents involving the insured vehicle. Here are a few common types and elements of coverage included in auto insurance policies: Liability coverage : This type of coverage is usually mandatory in most states and covers damages you are legally responsible for if you cause an accident. It may also cover legal fees if you are sued for damages. Collision coverage : This covers damages to your vehicle in case of a collision with another vehicle or object. Comprehensive coverage : This type of coverage pays for damages to your vehicle not caused by a collision, such as theft, vandalism, or natural disasters. Personal injury protection : Also known as PIP, this coverage pays for medical expenses and lost wages for you and your passengers in the event of an accident. Uninsured/underinsured motorist coverage : This protects you if you are involved in an accident with a driver who does not have sufficient insurance to cover the damages. The type and extent of coverage can vary depending on the policy and the insurance company. So, you must review your policy carefully to understand what is covered and what is not. Mistakes to avoid Providing inaccurate information Filling out inaccurate information on your insurance application can have costly repercussions. Insurance companies rely on accurate information to create a customized policy based on your needs and circumstances, so any inaccuracies could potentially lead to higher premiums or even a denied claim if an accident occurs.

Medicare is a federal health insurance program for those aged 65 and above. Here, traditional Medicare (Parts A and B) are doled out based on a fee-for-service arrangement. Part A covers inpatient/hospital coverage, while Part B covers outpatient/medical coverage; however, a deductible and copay may be required for both. Before signing up for health insurance, one must consider their medical needs, as the following services are excluded from traditional Medicare coverage: 1. Custodial care Custodial or long-term care facilities are meant for those with a chronic illness or disability. While they may not require constant medical attention, they may need help with daily activities such as walking, getting in and out of bed, dressing up, eating, using the toilet, cooking their food, and more. However, Medicare, Medigap, and most other insurance plans do not cover these costs. So, those looking for long-term care coverage must explore suitable Medicare Advantage plans. Some people may also be eligible for custodial care under Medicaid. 2. Overseas healthcare Medicare plans also do not cover most healthcare services or products availed outside the country. Under this rule, the jurisdictions recognized for Part A and Part B services include all 50 states, the District of Columbia, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, Guam, the Commonwealth of Northern Mariana Islands, American Samoa, and territorial waters touching U.S. land (for services onboard a ship). When traveling abroad, it is advisable to invest in a travel medical insurance plan to cover any emergency medical costs incurred on the trip. These insurance plans can cover reasonable and customary charges for ambulance services, doctor’s bills, hospital and operating room charges, X-rays, examinations, treatments, and lab tests. One should conduct thorough research before investing in a travel medical insurance plan. 3. Personal comfort items and services Medicare Parts A and B also do not cover the cost of personal comfort items and services such as radios, TVs, phones, air conditioners, and beauty and barber services.

An insurance plan serves as financial aid for those seeking a secure future for themselves against potential risks and losses. Particularly for those living with disabilities, such additional financial support can prove to be immensely useful in dealing with uncertainties and challenges. In the event of uncertainty, insurance plans offer disability coverage options and can provide significant assistance. Individuals with disabilities should be aware of some common insurance benefits they may be entitled to. What is considered a disability by insurance providers? Insurance companies consider disability as physical or mental, which may be caused by injury or illness. Insurance providers also consider congenital disabilities, that is, a condition that has occurred at birth. However, to qualify for life insurance, the condition should not directly impact one’s life expectancy. For example, a disability caused by a spinal injury will not affect life insurance rates. However, conditions such as PTSD or anxiety may affect the rates and application approval. Some common forms of disabilities that insurance providers recognize include the following: Cognitive conditions that impair thinking, communication, and memory. Vision and hearing problems Medical conditions that affect mobility. Mental health issues such as PTSD or post-traumatic stress disorder. The underwriting processes vary among different life insurance companies. Therefore, it may not always be clear which disabilities may result in denied insurance coverage. However, if an applicant is in good health apart from their disability, most insurance providers will approve the application. Insurance benefits for the disabled Insurance plans offered by the federal government Persons with disabilities can apply for two types of federal insurance: Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI). Social Security Disability Insurance or SSDI In most cases, SSDI is associated with the applicant’s work history. This federal insurance program has been designed to pay out benefits to a disabled person and certain members of their families under specific conditions.