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Have you been looking for a cheap health insurance plan for yourself and/or your family? It's frustrating isn't it? It seems as though most of the cheapest policies out there don't provide a whole lot of health insurance coverage. That being the case, what's the point? Well, there are ways to get cheap health insurance, but it may mean that you'll have to pay a bit more out of your own pocket for routine care. However, you would be mostly protected against long term hospital costs. Let me explain how this would work and you can decide if it would be an option for you.

Buy a cheap health insurance plan and raise the deductible to the maximum annual amount. This means that if you have a maximum deductible amount of $5-$10,000, then this is the amount that you'll have to pay each year before your health insurance will start paying for anything. I know, I know. You're probably asking yourself "what's the point"? Well, the point is that most people don't see the doctor more than twice per year, and even then it's usually for minor care, such as cold, flu, ect., so paying for these visits shouldn't set you back too much, unless of course you have a large family. In that case, you'll have to make sure you have plenty set aside for doctor visits.

Anyway, if you have a plan with a $250-$1,000 deductible, you'd have to pay those costs yourself too before your insurance company started paying. You'll save a lot off of your premiums each month by raising your deductible. Also, most plans have a 20% co-pay so even when your policy kicks, in once you've met your deductible, you'll still have to pay something yourself out of pocket.

The main idea here is to buy a cheap health insurance policy in order to protect yourself from huge hospitalization costs. Look at this example. If you have a $100,000 hospital stay, in the event that you have a $5,000 deductible, you'd be responsible for paying that $5,000 plus 20% of the other $95,000, which is $19,000. That's a total of $24,000 you'd have to pay. However, you'd have to pay $19,000 anyway, even if your deductible was lower.

The whole point here is to find a cheap health insurance plan that you can afford and compromise. You're not going to get out of paying all of your hospital costs, regardless of your deductible amount. This is just something you'll have to consider as you look for cheap health insurance. The decision is, of course, up to you.

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What would happen if you accidentally cause a fire and it spreads to neighboring condo's?

It is very common for most Condo owners to under-value their belongings. But before you do, make a detailed list of the major items in your home and spend a little quality time placing current value on those items.

For example - that refrigerator or stove will likely cost more to replace today than they did originally. Use current values when estimating how much coverage you need.

IMPORTANT: On a Condo policy you also have to purchase protection to cover your window coverings, flooring, cabinets, sinks and toilets, paint, lighting, appliances. You can see how the total can add up quickly.

MASTER ASSOCIATION POLICY

Most Condo owners mistakenly believe that their associations policy will absolutely covering everything else. Once in awhile, particularly when rates have gone up, associations will sometimes sacrifice a good policy in exchange for lower rates.

WHAT HAPPENS IF YOUR ASSOCIATION POLICY HAS GAPS?

Most condo owners have never considered the fact that their association policy could have a gap, or a massive deductible. Guess who gets to pay for those gaps or that large deductible? That's right. You and your fellow owners.

LOSS ASSESSMENT

When buying Arizona Condo Insurance ask your agent about adding Loss Assessment coverage. It's usually very cheap to add but gives you added cushion/protection against a master association policy that has gaps or big deductibles.

Besides your Condo policy, buying Umbrella insurance coverage is very important.

Consider getting a quote from an Independent Insurance Broker. They will shop around with various Condo carriers to seek the best rate for you.

In Arizona, the number one insurance broker is Choice Insurance of Arizona.

Click here to visit their website: Arizona Condo Insurance

Gary Brown is principal owner of Choice Insurance of Arizona. He has been serving Arizona residents for Arizona Auto Insurance, Arizona Homeowner Insurance, Phoenix Life Insurance, and Arizona Long Term Care Insurance for nearly 14 years. Find his website at http://choicearizona.com