Comments on: Optimizing Medical and Auto Insurance

By: Tim

Tim — Tue, 21 Aug 2007 20:56:08 +0000

Lazy man, it depends on how you cover the autos (i.e. stacked or not) and depends on if you are getting all your insurance from one company (i.e. multiple policy discounts). Don’t see how it would be a minefield simply because your spouse is in the military. auto insurance is based off of where you are going to park the vehicle. i can’t think of an auto insurer that would give you three or two state options unless you lived in separate states. now, you would have a couple of options to register a vehicle given that she is in the military.

John and Mapgril, yes and no. It will vary. normally if you have two policies, one is primary and the other fills in after the primary limits have been met, thus the question of if you have a primary medical insurer. This doesn’t mean you cannot have two, three or more policies. It just means that one is the first one you file through while the others are supplemental insurers. paying for both employer coverages is something to consider, especially if you see doctors frequently or one employer’s coverage isn’t all that cracked up to be. For us, my wife is under my policy and we do not pay into her employer’s coverage since we feel my policy is sufficient.

By: mapgirl

mapgirl — Tue, 21 Aug 2007 01:28:44 +0000

Jim,

I don’t know if John’s comment is true, but I’ve worked at some financially strapped firms who will deny you their group insurance if you have a spouse who can cover you under the spouse’s workplace’s policy. It’s really stupid if you ask me. I don’t see the harm in doubling your healthcare coverage if one of you is seriously ill and you can afford the married couple premium on your end as an expense. However, your fiancee is damned lucky that she doesn’t have to pay a premium at all. Most places make the worker share the cost. Full benefit like that is extremely rare these days.

By: John

John — Mon, 20 Aug 2007 17:31:12 +0000

FWIW, I’m pretty sure you can’t both be insured on each other’s medical plans at work. Usually the insurance company asks for an affidavit from the spouse being added that he/she is not covered by another policy.

By: Lazy Man and Money

Lazy Man and Money — Mon, 20 Aug 2007 14:44:16 +0000

Auto Insurance was a mine field of difficulty with us since she was in the military. Turns out my wife could legally choose three states and I could use two. Anyway, combining our two policies turned out to be no savings.

Living in the same place saves on home/renter’s insurance. And then there’s the utility savings.

By: Brent

Brent — Mon, 20 Aug 2007 14:04:17 +0000

Just wanted to add a note here. A lot of my younger friends starting out and getting their own car insurance policies (getting off of their parent’s) make this mistake in Massachusetts. We have regulated car insurance, so there is no shopping around, they look up your license in a state master database and everyone gives you the same price. So instead of shopping around for prices, you just ask around for who is “easiest to deal with” and go with them.

I still haven’t formed a personal opinion on if this regulated insurance is a good thing or not. I can kind of see both sides.