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Trying to Figure out Insurance for 2016

September 24th, 2015 at 07:39 pm

There are two types of insurance that I'm not sure we need...?

Personal Articles Floater
This covers our wedding rings which we wear every day and also a pearl necklace that lives in the safe deposit box. I wear it maybe every other year once. So the Personal Articles Floater is $248 a year. The necklace is worth a lot (no idea how much), and the rings are probably $2000 each. Should I self insure instead with that $248? Maybe get the pearls appraised? (No idea in our town where I'd do that).

Dental
We pay about $50/month for dental insurance. What if I put that into an account instead and self-insure on that? I need to review what we're covered for. I think the insurance only covers half. It pays for part of one annual cleaning. But $50/month is $600 per year. That's a lot of cleanings! This is just for me and F... it's an add on to our medical insurance.

A little more research is in order.

4 Responses to “Trying to Figure out Insurance for 2016”

  1. latestart Says:

    Do you have access to a flexible spending account. One of my co-workers stopped her dental insurance and placed the cost of her cleanings into her spending account.

  2. MonkeyMama Says:

    Dental insurance is one of those things that has never made any sense financially, for us. Of course, we each pay $120 per year for cleanings and X-rays. There are dentists out there that give significant discounts if you don't have insurance or cater to the insurance-less. (We've just lucked into this since my forever dentist retired. We were extremely picky wanting a conservative dentist, and he just turned out to be so cheap. But he caters more to the poor, overall). Even if we consistently needed more work, I haven't seen any private insurance plans that help from a cost/benefit standpoint.

  3. FrugalTexan75 Says:

    If I was paying $50/mo for dental insurance ... I think I would self insure. I currently pay around $7/month? (after the employer coverage) for it, although I haven't used it at all this plan year ... Oops. Need to make an appointment for October to use it at least once!

  4. Buendia Says:

    I have decided my business is going to set up an FSA! I looked into HSAs and HRAs and I think an FSA is the best option for us. So now I'm doing a little research online...

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