<p>Do you ever stop and think about how much you spend on insurance, of all kinds? There is life insurance, health insurance, homeowners insurance (add on a balloon liability policy), car insurance… I think I am up to $12,000 by now. (whoops, forgot health insurance for my sons which is paid separately… add another $2k) If you are employed you might include social security as a type of insurance; it does pay a death benefit. Do you buy extended warranties for your appliances? Do you have a home warranty on your recently purchased house? Extra credit card fees that insure you against death, loss of job or other calamity? I feel like i am being insured to death! </p>
<p>I am sure there are other policies out there. Every time I buy a tire they try to sell me road hazard insurance. New cell phone? They want you to insure it… sheesh! What a great business to be in. Think I will start an insurance company… name it AIG… (AnythIng Goes)</p>
<p>(NJres takes a break from his bill paying to go on a rant! LOL)</p>
<p>I feel ya, NJ! Our insurance bills are ungodly. Between our home, 2 rental properties, and 3 cars (with a youthful male driver), we pay well over $20,000 annually. Add another $6200 for health insurance for 3 of us plus our recently graduated son. It’s nuts! And heaven forbid we should file a claim! </p>
<p>Can’t wait to move away from south Florida. Our insurance bills will be cut in half.</p>
<p>Don’t forget about insurance for your clothes washer and dryer. We always seem to have a policy. About the time it has expired, either the washer or dryer dies. My wife calls up Sears, gets a new policy and they come and repair the item. </p>
<p>The best policy I had was a 3 year computer repair/replacement policy from CompUSA. After about 2 years the original computer died. It was replaced with a new, updated unit. The next unit lasted about a year. We got another upgraded replacement and signed up for another warranty extension. You guessed it. The mother board died on that one and we got another.</p>
<p>It is one of those costs I try not to think about -</p>
<p>I think it is about $12,800 for health (with employer’s plan), auto, home, and additional life insurance. We rarely buy extended warranties or appliance warranties.</p>
<p>Son’s friend just got his license. Parents are paying close to 6K a year for him, as they got max coverage, his own car where he’s the primary driver. Dad is an insurance lawyer, so got the max coverage. Don’t want to lose everything they own if son has an accident. </p>
<p>Anyway, this cost is playing very heavy in my college choices. </p>
<p>People here think they’re getting such a bargain by going to LSU with TOPS, but if I have to pay 6K a year for son to have a car up there, which seems to be almost a necessity, where’s the bargain in that?</p>
<p>As for home insurance, we sold my mother’s home at a heavy loss after repairing it after Katrina. I’m grateful we did, seeing how even worse the housing market has gotten.
Between homeowners, flood, and property taxes, it was costing me about 10K for the house to sit empty, so I was happy to have sold it, even at the loss.</p>
<p>My sister moved to Virginia and couldn’t get over how much cheaper car insurance was up there, especially for her teenage sons.</p>
<p>24yo just called for how much coverage does he need for our (now his) 97 Camry. I essentially told him, get the max except max deductible for collision. I told him the cost is in his age. The second cost is because he has too much in assets that can be at risk.</p>
<p>Seriously…what kind of deductible and coverage do you have. DS is paying $170 per month for health and prescription…no dental or vision. The family plan is about $14K per year for very good and full coverage.</p>
<p>Some Politicians say, “It’s all about Choices.”
Other Politicians say, “Are there Choices?”
Some will say, “Some have better Choices than others.”
Others will say, “Its all about the Money.”
I say, “DS got his.”</p>
<p>Stay tuned, Congressional hearings now on your favorite CSPAN.
Target date for House and Senate votes August 15, 2009.</p>
<p>Previous health insurance was $110, 20% copay, $3500 annual deductible, HSA (he was contributing maximum to HSAcct). 50% prescription. No dental. Large nonprofit insurance company.</p>
<p>I WANT that coverage for MY son!!! His is $166 per month. $1500 deductible. Prescriptions are $10 generic/25 name brand preferred/40 name brand non-referred. After the deductible on medical is reached (that $1500) the plan pays 100% of coverage. No dental. We thought it was a mighty good policy (with Anthem) until I read your post!!</p>
<p>Wow, where did you guys find such affordable health insurance for your sons? Is there pre-existing coverage exclusions? My S’s nsurance will be $400/month college’s GAP policy after he graduates from college. While he’s there, it will be about $1150 for the school year.
If you’re willing to share that info, would like to read up on it.</p>