No matter what kind of insurance you buy—life insurance, auto insurance, health insurance, or any other—you will always pay a higher premium—more money—for the coverage you get.
There are two ways this could work. The first method is fairly simple, while the second is a little more involved but still a good way to lower your insurance costs:
First, the dollar value you want on the thing you’re insuring can change how much coverage you have.
A house insured for $250,000, for instance, will differ from a house insured for $500,000.
It’s not hard to understand: the more dollar esteem you need to protect, the more costly the exceptional will be.
Second, if you choose a policy with a higher deductible, you might be able to get the same amount of coverage for less money.
In the case of health insurance or supplemental health insurance, you can take higher deductibles or look at policies with different options like higher copays or longer waiting periods.
For instance, you may be able to save up to 25% by increasing your deductible from $500 to $1,000, or something along those lines.
