Insurance related Deductibles by Richard Cayne of Meyer International Thailand

When it comes to protecting your assets, your business, your family and even yourself, it’s imperative that you have insurance coverage.

Among the multitude of variables to be discussed, considered and negotiated with your insurance provider, deductibles are amongst the most common. 

“The benefit of deductibles is that they can provide you with the coverage you require without the nuisance of paying high premiums”, says Richard Cayne of Meyer International in Bangkok, Thailand. “We’ve all heard the term ‘deductibles’ before, but surprisingly, a lot of people don’t fully comprehend the nuances of variance therein”.

Insurance deductibles protect you and your provider

Generally, one must pay both the premium and deductible on an insurance policy. The cost for the policy is the premium. For coverage, this can either be paid all at once or in monthly installments. The amount of money you are responsible for paying before the insurance kicks in is called the deductible.

Many people assume that the payment on your insurance coverage premiums is enough to ensure a pay-out. While this is sometimes the case, those premiums can be incredibly high. By paying your deductible, you’re exemplifying your inclination to behave responsibly in the eyes of your insurer.

When one agrees to pay for a certain degree of loss, the insurance company in question will generally view you as less likely to launch any claims of a frivolous nature. And if you think that your insurance will always cover whatever losses you may encounter, that can lead to reckless behavior on the part of the insured party.

Additionally, what your policy covers could readily change (and your premium payments soar) without the safeguard of a deductible. You could find yourself only receiving coverage for cataclysmic losses or other extremely unfortunate situations.

Deductibles can also help you save money

How much money you are willing to pay out of pocket for your deductible is a very important factor when it comes time to decide how much coverage you choose. Your premiums may come down if you decide to go with a higher deductible, as deductibles are only a matter of importance in regards to claims. 

This is a variable that is totally within your control, as premiums are set at a fixed cost. It’s important that you first assess yourself, as the insurance companies will just as readily be assessing you too. 

How often do you drive a car? Do you ever find yourself needing to travel to developing or underdeveloped countries for work? Is your business one that deals primarily in cash only? Do you have properties that are located in areas that may be prone to fire, floods or other natural disasters? 

When it comes time to negotiate your insurance coverage, every type of insurance you can think of comes with its own categories and conditions.

Ask for help with your insurance decision

If you find yourself unsure of which type of insurance suits you best or what kind of policy is best tailored to your needs, it’s important that you get in touch with a trusted financial expert like Richard Cayne to analyze the requirements you need so that you can guard all the important factors in your life with an adequate and appropriate insurance policy.

Richard Meyer Cayne

Richard Meyer Cayne of Asia Wealth Group Holdings, the Meyer Group, Meyer Asset Management and Meyer International Ltd has been involved in wealth management planning for decades. Originally born in Montreal Quebec, Canada, he later relocated to Tokyo, Japan for over 15 years and now resides in Bangkok, Thailand. 

While he runs the Meyer Group and serves as the high credibility CEO of Asia Wealth Group Holdings Ltd, a London, UK Stock Exchange-listed Financial Holdings Company, as well as the Managing Director of the Meyer Group of Companies www.meyerjapan.com. and has additionally been the managing director of multiple organizations that specialize in helping high net worth individuals with succession planning .

Having worked with clients all over the globe with everything from portfolios to bonds to mutual funds to offshore investing to investing in retirement for your golden years, Richard Cayne of Meyer International can help you invest the right way and protect your cash. 

Richard has been a financial advisor involved in wealth management planning solutions and asset management in Asia for over 25 years and while living in Tokyo, Japan, he assisted many high net-worth Japanese families create innovative international tax and wealth management planning solutions. The financial holding public company of which he is CEO can be seen at Asia Wealth Group Holdings Ltd or the stock exchange link: https://www.aquis.eu/aquis- stock exchange/member?securityidaqse=AWLP Asia Wealth Group Holdings Ltd – Richard Cayne Thailand. Meyer Asset Management Ltd has been in the wealth management space since March 2000 and uses fundamental analysis along with modern portfolio theory.

His image worldwide as a professional advisor has been sterling and he maintains a firm command and understanding of all things finance-related.