By Samy Beshay: Common mistakes in insurance

Samy Beshay: Experts in all kinds of insurance

Many mistakes that many people make in insurance of all kinds

There are four mistakes in health insurance, and they are

First: You cannot buy health insurance or change the insurance plan that you have except during the open period for three months each year, starting from November 1 to the end of January each year. Except for some exceptional cases, such as obtaining residence papers, losing work insurance or medical insurance, or transferring residence to another state.

Second: Some believe that whoever owns a house or has an expensive car does not have the right to obtain Medi-Cal (free treatment). Beginning on January 1, 2014, when the Obama Care Law (Covered CA) came into force, the right of low-income people became entitled to obtain Medi-Cal according to their annual income. For example, if a person's yearly income is less than 16,643 per year, he can receive Medi-Cal regardless of whether he owns a home, an expensive car, or has children.

Third: When applying for Covered California, you should consider that silver 94 or Silver 87 is one of the best insurance plans if your annual income allows you to obtain it.

Fourth: If the employer provides health insurance for its employees, then you do not have the right to obtain health insurance through Covered CA and to receive monthly assistance to reduce the cost of health insurance, except if the cost of health insurance with the employer represents more than 9.5 percent of Your income. You are not obligated to return the financial aid when applying for the annual tax return.

As for car insurance, the most common mistake is that the amount of car insurance policy is the minimum legally required, which is 15,000/30,000/5,000. These numbers have not been modified for more than twenty years and do not correspond to the increase in car repair prices and treatment costs that increase with the passage of years. The amount of the insurance policy is sufficient to pay and cover the Claim. You are required to pay the remaining amount of your own money. You must increase the amount of insurance as much as possible, especially since the increase in insurance cost is a few dollars. Some neglect to read the letters that arrive from the insurance company because the insurance premium is automatically paid from the credit card or his bank account. But if the insurance company does not receive the monthly payment due to changing the validity date of the credit card or insufficient bank balance. The insurance company will send a letter to update the data of this payment method. If you do not contact the company, you are at risk of canceling the insurance policy, which leads to the cancellation of the car license because there is no insurance.

Some insurance companies send an annual letter to their customers to review how many miles each customer drives. In case you do not respond, you will be exposed to an increase in the insurance cost. Also, if the home insurance is canceled, the lending bank will buy home insurance at a higher price, and you are obligated to pay it.

If you get a traffic violation, you have the right to contact a traffic school once every 18 months. If you don't do it, whether by attending a class or online, the cost of car insurance increases for three years.

Some believe that he can save on insurance by hiding some information from the insurance company, such as giving an incorrect number for how many miles he drives every year or not adding his children to the car insurance policy; because they are young so that the insurance price does not rise or an incorrect number to read the car meter or give an address change his actual address to a cheaper area in the insurance cost. The inaccurate data will be subject to legal accountability, in addition to the insurance company's refusal to pay the amount of Claim as a result of fraud.

 I welcome all your questions about all types of insurance to the following email.

Samy Beshay

CA License: 0D91467

Covered CA Certification: 5000006082

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