Insurance

Does Renters Insurance Cover Storage Units?: A Complete Guide

When you’re renting a home, you rarely have the storage space needed to keep all your belongings in your apartment or house. Storage units solve the problem, but of course, they come with issues of their own, such as the risk of fire or burglary.

Having renters insurance is a smart idea, but do you need two policies? Or does renters insurance cover storage units?

Here’s what you need to know.

Does Renters Insurance Cover Storage Units?

Yes, if you buy renters insurance, then it will cover your storage unit.

Every policy is different, but the same rules should apply to your storage unit as your rental unit. That means fire, tornadoes, burglary, and water damage will all fall under your policy.

There are limits. You won’t enjoy the same coverage for both your rental and your unit. Policies typically cap storage unit insurance at 10% of your total policy value. So, if you have $50,000 in renters insurance, then you have $5,000 in coverage for your storage unit.

What Isn’t Covered?

There are a few instances when your policy won’t kick in after an emergency.

First, if you need to claim a result of a flood, earthquake, or pest, then your insurance won’t cover you. You typically need specific flood insurance to protect your possessions.

Second, neither renters nor storage unit insurance cover certain high-value items. Storage unit coverage never includes things like gold, musical instruments, valuable art, or other rare items. If you have jewelry (including expensive wedding rings), then you likely need to add a jewelry insurance rider or seek out insurance policies that cover your valuable items specifically.

There may be other limitation clauses depending on your state and policy provider. Always read the policy in full before deciding on the best storage unit insurance for you.

When Should You Buy Renters Insurance and Storage Unit Insurance?

So, when should you buy both renters and storage unit insurance?

Most people won’t need both, but you might consider looking for two policies if 10% of your policy value doesn’t cover what’s going into storage.

You might find this to be the case if you’re downsizing from a family home into an apartment and keeping the vast majority of your things. In this case, you would have a significant amount of furniture or other items into storage either temporarily or permanently, and $1,000 to $5,000 wouldn’t cover the value your storage unit.

What about storing valuable possessions? As noted before, you typically need policies covering your valuable items specifically or riders that do so rather than buying two of the same policy (renters and storage unit).

Make Sure You Have the Right Cover

Does renters insurance cover storage units? The answer is yes! However, there are policy limits.

If you have unique needs, such as a significant amount of stuff in storage or high-value items, then you’re likely to need multiple policies or riders for full coverage. Make sure you talk to an agent before you sign the dotted line. Because when you have the right cover, you can rest easy.

Are you looking for more helpful content? Visit the finance archive for more money matters.

10 Essential Insurance Plans Everyone Should Have

Did you know that almost 6,000 insurance companies operate in the US? Of these, more than 2,500 are property and casualty insurers. They make up the brunt of the insurance sector, as they’re the ones that sell home and auto insurance.

All that should already give you an idea of how varied the insurance sector is.

The big question now is, which of these provide essential insurance coverage?

We’ve rounded up 10 of the most vital ones that most people shouldn’t go without, so be sure to read on!

1. Health Insurance

This is one of the types of insurance you should never bypass, even if it’s no longer the law. That’s right: As of January 2019, health insurance, at the federal level, is no longer a requirement in the US.

However, some states, such as California and New Jersey, have state-imposed laws. In these states, health insurance is either mandatory or will become required.

For many good reasons, seeing as a health plan can help ease the burden of medical costs. With health insurance, you can reduce your out-of-pocket spending on health care services. Some comprehensive policies even offer free preventive services, such as check-ups and screenings.

Keep in mind that health care spending in the US may reach a staggering $6 trillion by 2027. That shows how expensive medical care has become, and you can be at risk if you don’t have a health plan. Without a health policy, you may end up facing exorbitant hospital and medical bills.

Not sure where to start when it comes to purchasing health plans? You can compare plans here so that you’ll have a better idea of what each scheme covers and what they don’t.

2. Dental Insurance

Most basic types of health insurance offer little to no coverage at all for dental care services. That’s why for every US adult with no health policy, three adults are without dental coverage.

The thing is, poor oral health doesn’t only cause tooth decay and periodontitis. It can also affect the overall health and well-being of individuals. Researchers, for instance, say that gum disease and heart disease may go hand in hand.

Many other studies found links between oral health, strokes, diabetes, and mental illnesses. Others found evidence that poor dental health can result in nutritional deficiencies. Some researchers also say that the state of the mouth is a risk factor for obesity.

As you can see, dental health is just as vital as general health. As such, it’s best to supplement your health policy with a dental plan. This way, you can improve both, which in turn, can help you have a better quality of life.

3. Motor Vehicle Insurance

There are only two states in the nation that don’t impose the purchase of auto insurance. These two are New Hampshire and Virginia. If you aren’t from these states, it’s your legal responsibility to carry auto insurance.

In fact, even if you’re from the Granite State or the Old Dominion State, you still need “proof of liability.” For instance, if you’re at fault for a car crash in NH, you must prove that you can pay for the damages you caused. Otherwise, you’ll likely end up getting your driving privileges suspended.

In Virginia, you can “skip” auto insurance, but if you do, you need to shell out $500. This is for the “Uninsured Motor Vehicle Fee,” which is only a permit that lets you drive without coverage. It’s not insurance, so, if you end up in a crash, you’re likely to end up paying for the damages too.

Keep in mind that road crashes are so common in the US, and they cause at least 4.4 million serious injuries each year. Overall, these accidents cost the economy and society at least $871 billion per year.

4. Homeowners’ or Renters’ Insurance

Federal and state laws don’t require these types of insurance plans. However, homes purchased through a mortgage, which 62.9% of homeowners did, often do. It’s one of the most common requirements set forth by most mortgage lenders.

Renters’ insurance isn’t a federal or state law, but landlords can demand it from their tenants. It’s usually a part of a rental agreement that protects the rented-out property. However, it also protects renters, as this policy covers their possessions too.

You should get a policy even if you’re already free from mortgage or if your landlord doesn’t require you. A homeowners’ or renters’ insurance policy can protect you from sudden losses. It can also help you pay for the costs to fix or replace property damaged by accidental causes.

5. Flood Insurance

The basic types of insurance coverage for homes exclude flood damage coverage. For properties within a high-risk flood zone, flood insurance is often mandatory. These include homes purchased with government backing.

However, you should still get flood insurance even if your home is outside of a high-risk zone. For starters, the frequency of floods in the US has risen by more than 250% since 2000. This means that even low- to moderate-risk homes are at a severe threat of flood damage.

6. Life Insurance

70% of Americans believe that life insurance can protect their financial well-being. That makes it one of the essential types of insurance, but only half of the respondents said they own one. Others in this group were also unsure if they had a life insurance plan.

Wherever in the US you may be, no law requires you to purchase this type of insurance. However, it’s your life on the line here, as well as the future of your loved ones. A life insurance policy can protect your family’s finances in case you pass away.

Some types of life insurance policies even let you build a “savings” account as you pay for your premiums. These include permanent life policies, such as universal or whole life insurance plans. These come with a “cash value” component that grows every year.

After some time, say ten years, you may already be able to withdraw or borrow against that savings account. You can then use the money as you see fit while you’re still alive and well.

7. Workers’ Compensation

Workers’ compensation is mandatory in 49 states. The Lone Star State is the lone state that doesn’t require this coverage in the US.

Workers’ comp, however, is the legal responsibility of employers. They must be the ones to purchase this for their workers. If they don’t, they will face severe penalties from the federal to the local level.

With that said, be sure that your employer has given you workers’ compensation. This policy should cover you for injuries and illnesses that occur while you’re on the job. It should also pay for lost wages in case you can’t go to work due to a job-related health issue.

8. Disability Insurance

Sixty-one million adults, or 25% of the US adult population, have at least one type of disability. The majority of them have problems with mobility, followed by cognition issues. What’s more, these conditions affect not only older adults but younger people too.

Living with a disability can have a severe impact on one’s ability to work. Moreover, these health conditions cause a massive spike in medical and care costs.

With disability insurance, you can protect yourself and your financial well-being. You also get to safeguard your loved ones who depend on your ability to generate income. It can help you pay for your bills and other expenses if you can’t work due to a disabling injury or illness.

9. Umbrella Insurance

Umbrella insurance provides coverage for claims that existing policies won’t cover. They are “add-ons” to typical insurance plans that have limitations. The “umbrella” part of your policy pays for whatever these restrictions don’t.

For instance, let’s say your homeowners’ policy has a property coverage limit of $100,000. However, a fire occurred, and your home has sustained damages that cost $150,000 to repair or replace. If you have an umbrella policy, it should cover that remaining $50,000 (or up to the umbrella coverage’s limits).

10. Home-Based Business Insurance

As of June 2020, about 40% of Americans work full-time from their own houses. Many others run their sole businesses or sidelines from home.

If any of these is true in your case, know that your home insurance may not cover all of your business properties. A few examples are computers, electronics, and equipment you use for your business. Your policy may also not cover injuries to others that occur due to business activities.

To protect yourself from such losses and liabilities, consider getting home-based business coverage.

Don’t Bypass these Essential Insurance Plans

There you have it, ten of the essential insurance plans that most people would benefit from. There are many others, such as travel insurance, but the ones above should be your priorities. It’s also best to get them as early as now, as the longer you wait, the more expensive they may become.

Looking for more of the latest news in health, finance, and technology? Then please feel free to check out the other posts we have here at Healthcare Business Today!

7 Ways to Save on Prescription Drugs Without Insurance

Some people pay as much as $1,200 every year per person on prescription medications. That’s more than patients anywhere else in the world pay for the medicine. While many government programs and private insurers pick up a part of the bill, there are still Americans who can’t pay.

Instead of forking out $1,200 every year to remain healthy, there are a few ways you can save. Keep reading to discover seven ways you can pay less for prescription drugs without insurance.

With these seven tips, you can save money on prescriptions and reduce your financial strain.

Start putting more money back into your pocket with these seven easy tips. 

1. Choose Generic

One of the easiest ways to order a prescription without insurance is to ask for the generic version.

There’s likely not a generic version of every drug available on the market. However, you can still research while prescription drugs have a less expensive generic brand. Choosing the cheapest drugs that produce the same results can help you save a lot of money.

Make sure to speak with your doctor regarding the medications they prescribed. They can help you review the list and let you know if there’s a generic option available. 

If you plan on making the switch to generic, it’s important you speak to your doctor, first. They can make sure the generic option you choose doesn’t come with a list of additional side effects. Your doctor might also help you recognize the brand name option is more suitable for your health concerns. 

If you decide on a generic brand, make sure to complete thorough research.

For example, you’ll want to make sure the generic option is FDA-approved. The FDA requires evidence that the medicine was made using safe ingredients. Before they can approve a generic drug, they have to confirm the drug is the bioequivalent of the brand name alternative. 

By choosing an FDA-approved drug, you’ll have the peace of mind that you’re choosing a drug that doesn’t put your health at risk.

Buy in Bulk

If you decide to order prescription drugs without insurance, see if you can buy them in bulk.

Most people order the same medications regularly over an extended period of time. If you plan on ordering a medication for long-term health needs, you can save time and money buying in bulk. Sometimes, you can save money by purchasing a 90-day supply.

Do you have to travel to pick up your medications at a pharmacy? Buying in bulk will save you time, too! The 90daymeds.com pharmacy can help you get started and discover a great way to save.

2. Try Samples

Pharmaceutical sales representatives take the time to visit medical offices with samples of many common medications. Doctors usually offer their patients samples of these drugs before requesting they use an expensive medication. 

If you want to save money on prescriptions, ask your doctor if they have any free samples available. This is especially beneficial if they’re putting you on a new, costly medication. 

One sample might not seem like a lot. However, even a week’s worth of samples can help you save money on prescriptions. 

3. Apply for Assistance

Contacting a pharmaceutical company might help you save money when buying prescription drugs without insurance, too. Many pharmaceutical companies have patient assistance programs available. These programs are designed to help patients who can’t afford more expensive medications. 

If your doctor wants you to take an expensive medication, make sure to research which assistance programs are available, first. 

In the meantime, you might want to consider switching your Medicare drug plan. Switching your current plan could help make your current prescription more affordable.

If your plan offers no coverage at all for the new prescriptions you’re taking, definitely consider making a switch.

4. Speak with Your Doctor

Today, 30% of people don’t fill out their prescriptions because it’s too expensive. Meanwhile, 16% don’t take their prescription as scheduled, while another 15% cut their pills in half to save money. 

Unfortunately, taking these shortcuts can cause dangerous consequences for your health. 

Don’t try to use your own methods to save on drugs. Instead, take the time to speak with your doctor. They can help you determine if there’s an alternative while keeping your best interests in mind. 

5. Check an App

In some cases, the copay for two similar medications is very different. After your doctor writes your prescription, grab your phone before heading to the pharmacy. 

Many insurers provide helpful apps that allow you to compare copay prices.

Take the time to look up the drug while you’re still in the exam room. Then, you can ask the doctor about the alternative you want to purchase. That way, you can save on drugs without risking your health.

There are websites online that will help you find discounted options, too. However, it’s essential to talk to your doctor about these alternatives.

6. Remain a Savvy Shopper

In order to find the cheapest drug available, you’ll need to shop around.

First, check out websites like GoodRx. These websites can help you compare generic and brand name drugs. You can also find coupons on these websites, though the coupons often have eligibility requirements.

Otherwise, keep an eye out for prescription discount cards.

You can also check your medicine cabinet.

Some people are very careful about removing expired products, foods, and medications. In some cases, however, it’s still safe to use expired drugs. They might not prove as potent as they were before, though. 

If you have an older bottle of the same medication, call your doctor. Ask if taking the old prescription is still safe. If the prescription expired a long while ago, you’ll want to make sure they’re still effective.

7. Review Your Regimen Regularly

After using these seven tips for buying prescription drugs without insurance, make a plan to check-in with your doctor regularly. Ask them if there are certain medications you can remove from your regimen.

They can help you make improvements, cut costs, and determine which medications are working. 

That way, you’re only paying for what you need!

Buying Prescription Drugs Without Insurance

Ready to save money on prescription drugs without insurance? With these seven tips, you can find a better way to pay. Save on drugs using these easy tips!

Searching for more helpful tips and tricks? Check the Health section fo the blog today!

How to Appeal an Insurance Denial with a Well-Written Letter

What if a few magic words could get you thousands of dollars in insurance coverage?

This may sound like something out of a modern fairy tale. However, for those whose insurance claim has been denied, this is a very real opportunity.

It’s possible to appeal an insurance denial, and it all starts with writing a letter. However, what you write (and what you don’t write) is what makes all the difference.

Wondering how to appeal an insurance denial? Keep reading to learn all the secrets!

Do Your Homework

Writing a letter to appeal insurance denial is very difficult. However, most of the difficult parts come before you actually start writing.

For instance, you’ll need to do your homework up front. Sure, you know your claim was denied, but do you know why it was denied?

It’s important to understand the stated reasons for the denial as well as the exact language the insurance company used. You’ll need to compare the letter of denial they send to you with any explanation of benefits (EOB) paperwork that you were sent.

Think of all this information as ammo for you to use in the actual letter.

Be Upfront

Speaking of the actual letter, you shouldn’t beat around the bush. What we mean is that you must be upfront about why you are writing.

In addition to having things like your name and contact details up front, your letter should also clearly state your intent.

Fortunately, it’s easy to do this.

Start out by requesting that the company accepts this letter as an official appeal to their denial of coverage. Be sure to specify the company name as well as the procedure that is being denied.

You’ll need to have more in the letter later on, but it’s important to have this kind of info up front.

Talk to Your Doctor

You might think that writing a letter of appeal is a solo activity. Well, spoiler alert: you and your doctor are going to have to tag team this.

For instance, you may need to request that the doctor change the phrasing of their request. Very often, claims are denied because the wording that your doctor uses conflicts with the wording that the insurance company uses.

Bring your insurance company guidelines to your doctor. Chances are that they will be able to rephrase the request for a procedure in a way that fits those guidelines.

Collect Evidence

A more basic reason that insurance may be denied is that the company thinks that it isn’t medically necessary. Your letter needs to include evidence that it is necessary and a narrative that ties this evidence together.

This may include prescriptions, referrals, letters from your doctor, and so on. You might think the company already has this information, but a letter of appeal is a unique chance to put all of this information in the same place for review.

If your claim stems from something like a car accident, then documentation related to that incident should be included.

Gathering evidence and including it can also be a time saver for the future. If your initial appeal letter is denied, this evidence can help you write a second appeal.

Get a Letter

We mentioned this in passing, but let us be explicit. Your own letter of appeal should include a letter from your doctor.

A letter from your doctor can help convince your insurance company that this procedure is truly necessary. Furthermore, collaborating with your doctor when they write this additional letter can help you learn more about writing your own letter.

One consideration is to cut out the middleman. Many patients have their doctors write a letter of appeal directly instead of writing a separate letter and attaching it to their own.

Regardless of the path you take, invoking the extra authority of your physician can go a long way towards your letter being effective. Having a personal lawyer can also help: read more here!

Talk to Insurance Company

You may have heard a simple motto from your parents growing up: “when in doubt, ask.” This motto also happens to apply to insurance coverage claims.

If you haven’t already, you need to contact your insurance company and ask them a simple question. Specifically, you need to ask why your claim was denied.

This helps you write your letter in a couple of different ways. First, the company can help you understand the technical jargon behind why the claim was denied. Without this understanding, writing the letter is impossible.

The company can also clarify things like the limits of certain kinds of coverage. Knowing that can help your doctor with any rephrasing of your medical request they may write.

Provide the Numbers

There are many schools of thought regarding how to write a letter of appeal. We like to keep things simple, which is why we think your letter needs to make things easier for your insurance company.

One of the best things you can do is to provide any numbers they require directly on the letter. This includes your address, phone number, and policy number as well as insurance type.

It really is that simple. By making things easier on the people handling your appeals, you make it likelier for your appeal to go through.

Save Them Money

Here’s a cynical fact for you: the universal language is money. And this is your insurance company’s preferred language.

One reason they may initially deny your claim is that they think it is too costly. Your letter is an opportunity to convince them that providing coverage for you will actually save them money in the long term.

For instance, you can spell out the kinds of alternative treatments you will be forced to get if this initial treatment is denied. It may turn out that denying a claim for a few hundred dollars could cost the insurance company a thousand dollars or more.

Convince them they can save money and your appeal is much likelier to succeed.

How to Appeal an Insurance Denial: The Bottom Line

Now you know more about how to appeal an insurance denial. But do you know how to take your writing to the next level?

At Article City, we bring expert writing advice “write” to you. Come check out our writing archive today!

Is Dental Insurance Worth It? Here Are 8 Alternatives You Need to Consider

Dental insurance costs anywhere from $15 to $50 a month. But the coverage isn’t comprehensive, and benefits max out at less than $2,000. Meanwhile, a single porcelain dental crown can cost $3,000.

The math doesn’t add up.

Is dental insurance worth it when it doesn’t even cover the cost of fixing one tooth? If your employer isn’t footing the bill, it might not be.

Here are eight alternatives to paying a monthly stipend for dental insurance.

1. Discount Dental Plans

Unlike dental insurance, discount dental plans provide coverage for one yearly fee of around $100. It’s like the Costco of oral health. Joining this club gets you access to quality dentists operating at a discounted rate.

You’ll be able to get routine services, like x-rays and cleanings, at a reduced cost. Even minor procedures, like root canals, and specialties like orthodontics are less expensive.

Discount dental plans may also offer a break on cosmetic dentistry. Teeth whitening, veneers, chipped tooth repair, and dental implants are considered non-essentials and aren’t covered by insurance.

There’s also a contingency for emergencies.

2. Negotiate

Find out if your dentist can give you a better rate than advertised. It doesn’t hurt to ask for a discount.

Many practices can shave off 10%. You might benefit from paying upfront or paying with cash. Some dentists offer payment plans for regular customers.

Explain your situation. It’s in the practice’s best interest to keep patients. If your dentist isn’t willing to work with you, shop around and find someone who is.

3. Nonprofit Dentists

See if there are any nonprofit dental clinics in your area. Committed to providing oral health care to those that need it most, these pop-up clinics host events offering free care to anyone who shows up. A team of volunteers staffs events and can see thousands of patients.

There are also free dental clinics for children of families below the poverty line. Kids who qualify for free and reduced lunch also qualify for free cleanings, fillings, and surgeries as needed.

4. Go Back to School

Did you know you can get basic dental work done at a dental school, sometimes for free? Every dentist was once a student honing his skill, and dental students need mouths to practice on.

For a fraction of the standard cost of care, you can have your teeth cleaned, sealed, and x-rayed at a school. Professionals advise students every step of the way. While it might take longer than it would at a dentist’s office, quality is ensured.

If you only need a regular cleaning, you might be able to get it done for free through a dental hygienist program. Ahead of licensing exams each year, schools offer free cleaning and x-rays to patients who meet exam criteria.

5. Leave the Country

Sometimes it’s cheaper, and more exotic, to take a dental vacation. Many countries offer top-notch dental care for much less than the US.

While it’s not worth traveling to get your teeth cleaned, if you need extensive reconstructive work done, you can save a lot of money. Full mouth reconstruction can cost $40,000 in the States, sometimes more.

Mexico and Costa Rica are close by and easy to get to. South Korea is adept at medical tourism and has similar standards to America. Hungary, Spain, Thailand, and the Philippines are also popular destinations for procedures.

This is not a decision to take lightly and requires thorough vetting on your part. Gather patient accounts and recommendations. Investigate infection-control practices and safety protocol. If something feels off, don’t go through with it.

6. Pay Out of Pocket

It’s possible that simply paying out of pocket for routine services will be cheaper than your dental insurance cost. If you’re in good health and have strong teeth, you might be able to get away with budgeting for dental visits.

The average teeth cleaning is less than $130. Fillings are around $100 per tooth. X-rays can be as little as $20 up to $250 for a full set.

7. Go Halfsies

You can cut your dental bill in half by going half as often. A yearly cleaning is sufficient for most people in good health. Bi-annual cleanings are a scientifically unsupported custom.

If you are at risk for periodontal disease, you should follow the advice of your dentist. In patients with several risk factors, more frequent cleanings have a direct correlation to tooth retention.

8. Pay with Prevention

The best way to save money on dental care is to need less of it. Take care of your teeth with healthy choices and good oral hygiene.

Protect your tooth enamel by minimizing acidic foods and carbonated drinks. Once enamel wears off, it cannot be replaced. Wait to brush your teeth for 30 minutes after drinking coffee or eating citrus.

Reduce tooth decay by avoiding sugary drinks and brushing your teeth after dessert. Sugar feeds the natural bacteria in the mouth which causes teeth-damaging acids.

Keep your alcohol use in check to prevent dry mouth. Alcohol temporarily reduces your saliva. Saliva helps rinse the mouth and keep food from sticking to your teeth and is a main factor in preventing cavities and infections.

Brush your teeth for two minutes, twice a day. Don’t skip brushing before bed. The longer plaque sits on your teeth, the better chance it has to calcify, which can only be removed by a hygienist.

If the taste of toothpaste is keeping you from brushing regularly, find one you actually like. This dental company puts an emphasis on high quality, good tasting toothpaste.

Floss daily. It’s the only way to get the space between your teeth clean. Floss sticks make it excuse-proof.

Don’t forget to replace your toothbrush every 3-4 months. Frayed bristles can erode gums and damage tooth enamel.

Is Dental Insurance Worth It to You?

Have you been making your monthly payments while wondering, “Is dental insurance worth it?” As with many medical questions, the answer depends on the person. If you’re only seeing your dentist twice a year for healthy teeth, you could probably make do with an alternative.

Has questioning your dental insurance cost got you wondering about other insurance plans? Browse our articles for blogs on supplement packages, life insurance, and even coverage for freelancers.