The lawmakers in Colorado are debating a change in the law to correct the gender discrimination currently requiring women to pay more than men to insure their health. The facts are uncompromising. In some 90% of all private health plans, women have premium rates 60% higher than men. This is so even though the statistics show women enjoy better health than men and make fewer claims. This is so even though the men used for comparative purposes are significantly older. And, if you feel you need any more confirmation of the basic unfairness, even men who smoke pay less than female non-smokers. As one of the women promoting the bill commented: insurers often refuse coverage because the applicant has a pre-existing condition. The way the premiums are loaded, it seems being a woman is a pre-existing condition.

The people who are paid to speak on behalf of the insurance industry usually fall back on the tried and trusted defense that women have medical needs specific to their gender. The most often quoted example is maternity and prenatal care. Ignoring the fact that men also have problems specific to their gender, such as erectile dysfunction, women are still quoted premiums 60% higher on policies excluding reproductive health needs. In other words, the discrimination persists even though the scope of the medical coverage is identical. So what’s going on? The answer, in this instance, is slightly complicated. If we start with auto insurance, it’s common knowledge that young men are statistically more likely than any other group of drivers to crash into another vehicle or some stationary object. Thus, where the policy discriminates between different groups of drivers, young men pay significantly more than women who tend to drive more safely. Not all auto policies do discriminate. By spreading the risk among a big group of drivers, the good subsidize the bad. But, most auto insurers do set different premium rates for different groups of drivers distinguished by gender and age. In medicine, it’s a fact that men fall ill and die, whereas women tend to recover from illnesses. This is one of the reasons why women have a longer life expectancy than men. But it also explains why women cost more. They survive for longer with chronic problems requiring continuing treatment. Thus, if the premium is a reflection of the likely costs of treatment over a person’s lifetime, it may appear slightly more reasonable to charge women higher premiums. Except this ignores the general rule that private health insurance stops at 65 as Medicare kicks in. The major long-term costs tend to occur after 65.

Colorado looks as though it may join the one or two other states with equality provisions. There’s no evidence from these other states that men now have to pay significantly more. For now, insurers simply make less profit. As a woman, it’s particularly important to research exactly what the different companies offer. Because of this, searching for cheap health insurance is a greater challenge. Always refer to the websites of the companies making the best quotes to see if there are additional discounts available or special policies for women. If there seems to be no cheap health insurance available, talk directly with the insurers to see whether the difference between the male and female premium rates can be reduced. Not everyone is lucky enough to live in a state committed to equality. It is for you to protect yourself as best as possible.

There are many different types of policy you can buy when insuring your vehicle. Because of the rapidly rising cost of the premiums, many more people are driving either underinsured or uninsured. It’s therefore wise to add the relevant coverage. In most clauses you can expect to see a promise to pay the damages for bodily injury or property damage which a covered person can recover from whoever owns or drives an uninsured motor vehicle. For these purposes, a “covered person” is you, a family member or anyone else inside your vehicle when the accident occurs. If you have the right to sue the owner or driver of the other vehicle, your own insurance company will pay the damages you recover (assuming that owner or driver does not have the money to pay you in full). The key consideration is the limit on the amount you can recover. All insurers put a limit on liability. This is usually a maximum and a provision to prevent you from being paid twice. So, if there’s another possible claim you could make under a workers’ compensation law or something similar, you must use that remedy first and only claim the additional amount from your own insurer.

Many people think the maximum limits on uninsured and other policies are inadequate and so buy an umbrella policy. As in the case of rain, this tops up their personal coverage. This is a two-way street. It can be a financial life-saver if your policy limits will force you to use your own savings to pay some of your medical expenses. Equally, it will protect your assets if a court orders you to pay damages exceeding your conventional policy limits to a person you injured.

This brings us to a new case in Texas where Sandra Gervais Laine sued Farmers. The facts are simple. Ms Laine was driving her mother home when a drunken, uninsured driver crashed into her car and killed her mother. She had an uninsured policy limited to $250,000 and an umbrella policy adding $1 million. A jury awarded Ms Laine damages of $175,000 for the wrongful death claim and exemplary damages of $1.5 million for causing the death of her mother while drunk. You might think this looks good for Farmers making a total payment of $1.25 million. Except that, under Texas law, there’s a fixed legal principle. An insured cannot recover from his or her own insurance company the exemplary damages awarded against another driver. So the most Ms Laine could recover was $175,000. The moral of this case is a hard truth. Everyone is assumed to know the law. So even if you read and understand the terms in the different policies offered through the auto insurance quotes, you can still be caught out because you do not know the law of your own state.

For most people, it’s not economic to take legal advice on all the different policies before deciding which to buy. Even if you could afford it, just how much of the law of insurance are you supposed to learn before you can make an informed decision? This leaves you with little real choice. When you receive the auto insurance quotes, read as much as you can. If there’s anything looking important you do not understand, ask the insurance company what it means. Before you sign up, the companies are always helpful. Get as much as you can clear before you sign. It’s usually too late to ask when a claim is being made.

Now that you are sure you have found your dream home and are ready to finalize the deal, you are ready to initiate the closing process. Many first time homebuyers are shocked to discover just how extensive and time consuming the closing process is, but rest assured that the documentation and the time you spend in closing will be well worth it when you are walk away with the keys to your brand new home.

Starting the Closing Process

The first step you will have to take in the closing process is making what is referred to as an “earnest money deposit.” After you, the seller, and the Realtor have agreed on a price on the home, making this deposit secures your offer and effectively locks it into place.

Depending upon the state in which you live, you or your Realtor will also acquire the services of other professionals for assistance with the closing process. The professional may be a closing attorney, a title company, or a closing agent. Regardless of the title or specific profession, this person’s job is to handle the closing process. Nonetheless, this does not mean that your Realtor is now out of the question. Rather, you can still ask your Realtor questions and use that person as a resource throughout the entire closing process.

Taking Care of Legal Issues

After you have made your earnest money deposit, the person in charge of the closing procedure will then make sure a number of legal issues are tended to. For example, this person will obtain a preliminary title report that will confirm that the person selling the home is the legal owner of the property. The report will also tell if there are any unsettled claims or liens against the property that need to be addressed before finalizing the sale.

Checking Out the House One Last Time – And Keeping it Protected

Although you have already looked at the house and have fallen in love with it, you will also need to work with your Realtor in order to make sure all of the proper inspections, disclosures, and contingencies have been addressed. The seller is obligated to disclose material facts about the property, including any defects the property may have and an lawsuits involving the property. Nonetheless, you are responsible for making arrangements to have the property inspected. With the assistance of your Realtor, you can find reputable companies to handle these inspections for you.

Since you will likely be taking out a loan in order to purchase your property, you will also need to obtain homeowner’s insurance before the deal is closed. This is because lenders require this to be in place before they will finalize the loan process. Although you will need to compare insurance policies on your own, your Realtor can assist you with finding companies and with providing you with the information you will need to give to the insurance company in order to obtain coverage.

Taking Care of Finances

Before your loan amount can be finalized, the lender will want to have the property appraised. This appraisal will provide the lender with a determination of the property’s value as well as a description of its physical characteristics. It will also provide a comparison of the property you are purchasing against other similar properties in the area. If your loan is then approved, the lender will send a notice to the title company so the proper documents can be signed at the closing.

Once all of the preparations have taken place, the actual closing appointment typically takes anywhere from one to two hours. You will need to bring a cashier’s check with you in the amount that is due upon closing and you will have to sign and complete a number of different documents. Once this step is complete, you will be handed the keys and the home will officially be yours.

Eric Bramlett is the broker & co-owner of One Source Realty in Austin, Texas. Eric currently manages his Austin Realtor Guide, his San Antonio real estate company’s website, & his East Austin real estate Guide.