Saturday, September 15, 2012

One Good Thing About India

Is that you didn't have to have insurance for everything. Of course, insurance is available but it's not mandated and regulated and enforced like it is in the US. We have to purchase insurance for just about everything.

You can't purchase a car from a dealer without insurance. They won't let you complete the sale and drive the car off the sales lot before they verify you have car insurance and that the car you are purchasing has been added. Last time I bought a car, I had to sit there on the phone in the sales office and add the car to my insurance before they let me sign the paper and take it home.

When you purchase a home the insurance price is automatically added to your payments. The mortgage company then pays the insurance on the home annually. You can't escape it.

Now, we're also required to have health insurance. When I moved to India it wasn't mandatory. I know people who purposely didn't purchase insurance because it was more expensive for them to have it. At my last job I paid for insurance because I thought it was the cool thing to do lol. (Okay, not really but it seemed like a good idea to have it.) I got scammed! I was paying $84 every 2 weeks for insurance and when I went to the doctor my copay was still $15 and since I only went twice a year, I paid way too much money to my insurance. (One appointment was only $255 full price.)

I've had much better luck with my car insurance. I don't get ripped off on that. I even kept it while I was in India because they covered me driving overseas. It cost me $24 a month to keep it and it was well worth it.

If you are about to renew your insurance and want to make sure you're getting good rates, Click here for more information on finding the best rates in your area.

Want to also save money on gas and driving? Click the link - and this works in both India and the US. Which reminds me, did you know that Indians pay the higher rates for fuel (petrol) than 14 other countries? They don't have the highest prices in the world but they are still pretty high and given the poverty level in India, the rates are exorbitant. Cutting usage of petrol is a smart move!

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