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INSURANCE BLOG

SR-22 Certificate- Do I need this?

December 3rd, 2008

Answer: Yes

A SR-22 certifies that you are insured and meet the states requirements.  The SR-22 document is filed by your insurance company to the state’s Department of Motor Vehicles.  An SR-22 is typically required by the court or mandated by state law in the event of any one of the following occur:

DUI-AT FAULT ACCIDENT-TRAFFIC VIOLATIONS-REVOKE of LICENSE

So make sure you keep this document in a safe place at all times and keep your insurance up to date.

I’m Going Deaf – Will my Insurance cover a hearing aid?

December 1st, 2008

Answer: Maybe

Most Health insurance firms have largely refused to cover hearing aids. While it is understandable that they would deny coverage for older adults on the basis that too many people would want or need them, what about children? As the cost of hearing aids continues to escalate, more parents and individuals are challenging insurance companies and pressing for this type of coverage to be included.

Furthermore, there is scarce advice available on the internet as to how to get insurance companies to pay for hearing aids. One site, Listenup, lists the  states with legislation or bills to address hearing aid coverage, links to advice for battling insurance companies over hearing aid coverage, and also names of insurance companies that have in the past paid for hearing aids.  So do your research carefully and make sure you get any verbal commitments in writing .

Benjamin Franklin knows Insurance

December 1st, 2008

There are so many old American Insurance Companies around but which one is the oldest?  Well most people don’t know the compay name when they hear it but they do recognize the company founder Benjamin Franklin.   The Philadelphia Contributionship Insurance Company is the oldest insurance company in the USA and has been conducting business for 239 years accodring to A.M. Best.

The Philadelphia contributonship, a mutual company, was founded by Benjamin Franklin and other prominent Philadelphians started operations in March of 1752 and then was incorporated under the laws of Pennsylvania on Feb. 20, 1768.

The Philadelphia contributonship main lines of business is homeowners and Multiperil Insurance. The Insurance group also provides fire coverage , allied lines and inland marine coverages. Get a Free quote today and lower your rates.

Roadside Assisstance- Is is worth it?

December 1st, 2008

You are out in the middle of the Mojave desert and the nearest town is 30 miles away.  Everything is going just fine and the radio is blasting when- BOOM- you get a major blowout flat tire.  Now what?  Well if you have roadside assistance just get on your cell phone and call for help.  Times like these will make you grateful that you paid a few extra dollars for this invaluable service.  Unpredictable things always happen at the worng times in the wrong places and ROADSIDE assistance gives you peace of mine.

Many Insurance carriers offer Roadside Assistance service bundled into their comprehensive insurance rates.  So get a rate quote now and make sure roadside assistance is part of it.

Umbrella Insurance- Do I really Need it?

November 30th, 2008

Confused as to wether you need Umbrella Insurance Coverage?  Don’t worry,  just follow these simple rules to determine if Umbrella Insurance is right for you.

STEP #1 Add up all of your assets – What is the worth of your home- your money in the bank, stocks, bonds, all other assets, and available funds from a 401(k) or other retirement plan. Get a reliable figure.

STEP #2 See how much liability Insurance coverage you have on your homeowners, auto, and boat insurance policies.

STEP #3 Now just determine if your current liability policies cover your all of your assets.  If they do not then you most likely need umbrella Insurance to cover these assets that are not currently covered.  Now wasn’t   that easy?  Now you know.  For Umbrella Insurance- get a fast, free quote now at InsuranceLower.com

Farmers Insurance: to increase homeowners Insurance Rates

November 30th, 2008

California yet again gets hit with increases in homeowner Insurance Rates

California Insurance Commissioner Steve Poizner has allowed 2 of California’s largest home insurers –State Farm Insurance and Farmers Insurance – to increase insurance premiums by a combined $115 million. State Farm Ins customers will in the near future have an average 6.9% hike and Farmers policyholders’ rates will climb 4.1%, according to recent decisions by the Commissioner. In both cases, the nonprofit Consumer Watchdog had formally challenged the rates and petitioned Poizner to hold hearings pursuant to Proposition 103, but the commissioner rejected those requests.

In a slow economy like this, Californian’s are relying on the insurance commissioner to keep premiums as low as possible, but insurance Commissioner Poizner refused to hold a hearing to investigate rate hikes that will affect more than 2.5 million homeowners. We reviewed the proposed rate increases and concluded that they were unjustified. The insurance commissioner should not have allowed these insurers to jack up prices like this.

At least $20 million of the major increase for State Farm was allowed as an exception to Proposition 103’s strict limit on excessive insurer expenses in order to let the insurance giant charge customers for “higher quality of [customer] service.” Included in Farmers’ rate hike was a special exception to the expense limit for millions of dollars allegedly spent on the company’s fraud prevention efforts. According to our review, the company did not meet the standard required to pass those costs on to policyholders.

We’ve also noted that both State Farm Insurance Company and Farmers Insurance Company are financially well-positioned to pay claims resulting from the recent Southern California wildfires and do not need premium increases to address those losses.

We intend to challenge the Commissioner’s decision allowing Farmers Insurance rate increase and is reviewing the propriety of the State Farm increase.

If the rates take effect, policyholders with State Farm will see an average increase of about $60 per year and Farmers Insurance customers will pay about $30 more on average.

With the slowing economy, many insurers turn to rate hikes Insurance company profits are tied to their investment income and when the economy weakens companies try to push premiums higher in order to maintain high profits. We are concerned that other insurers will press the Department of Insurance for more rate hikes as their investment portfolios tank. As evidence, consider Allstate, which was forced to lower its California homeowners’ insurance rates by about $250 million last spring. Allstate requested a 6.9% rate hike increase for homeowners in September. That proposal is still under review by the Department of Insurance.

While almost everyone is feeling the sting of a bad economy, insurance companies want to pass the pain on to homeowners and other policyholders.
The insurance commissioner stands between these companies and our wallets and Californians need him to be there.

California’s insurance reform law, the Proposition 103, requires insurance companies to open their books and submit to public hearings to prove their rates are adequate without being excessive. Members of the public can challenge any rate hike proposals, and the commissioner must grant a hearing if the requested change exceeds 7%. It is left to the commissioner’s discretion whether or not to initiate a full hearing for changes that are less than 7%, as was the case in the State Farm Insurance and the Farmers Insurance situation.  Get a Free Quote today and lower your insurance rates.

Switch Insurance- It’s Easy

November 30th, 2008

Thinking of switching your auto insurance: It might be easier than you think!
There are so many reasons to change auto insurance companies. You might be unsatisfied with the service that your present insurance company provides, or maybe you’ve just found another company willing to offer you the same level of coverage for considerably less money.  These days, performing a regular car insurance rate check-up and investigating your options has never been easier. When you decide to switch your auto insurance to another company, you’ll find that it’s pretty easy to do so. There’s just one main rule to follow:

Get a new policy first!

That sounds like common sense but some people just don’t have it.
Always get a new insurance policy in place before canceling your old auto insurance coverage. You don’t want to have a lapse in car insurance for even one day. Your new insurance company will be able to time the onset of your new policy to coincide with the cancellation of your old coverage.  Get a free rate quote now and see if you can lower your rates with InsuranceLower.com

Driving without Insurance- dont do it

November 30th, 2008

Some people just like to take risks: risks that can turn into hefty fines and financial problems.  If you think you can avoid auto insurance then think twice.  Fines in many states have increased dramatically and in states like California, you can even lose you car.  So if you do not have insurance, DO NOT DRIVE.  Get a quote today and get legal.

Drive Less Pay Less For Your Insurance

November 29th, 2008

They say everyone in Texas does things big, but now if you drive small you can reduce the costs of your auto insurance greatly.  If you just drive a few miles a day then check out this new Insurance program from MileMeter.

The insurance program is designed for drivers who drive less than 12,000 miles per year. Drivers who benefit the most from such insurance include urban professionals who live near their work, those who use mass transit, car-pool or work from home, and households that have more than one vehicle that aren’t driven frequently, the company said in a press release.The option is also intended to help the environment.

“Texas drivers now have a choice to do the right thing by their pocketbooks as well as by the environment,” said Ramon Alvarez of the Environmental Defense Fund.Consumers can buy coverage in advance in increments of 1,000 miles up to 6,000 miles. When their odometer reaches the end of that increment, they may renew as needed. Any unused miles expire after six months.

MileMeter is the only insurance company in the United States to be licensed specifically to sell per-mile auto insurance.  Get a quote today and lower your auto insurance rates.

Baby on the Way? Better Get a Life Insurance Policy

November 29th, 2008

There are so many reasons to get life insurance, but if you have a baby coming then it becomes even more important.  Here are a few reasons to get LIFE INSURANCE.

Now that your family is finally expanding, choosing the right LIFE Insurance policy becomes a big priority.  The right life Insurance policy can help provide financial security for your baby if anything happens to you. A little planning today can take care of your little baby tomorrow, and into the future as your child grows.

Provide for those who are depending on you.
Even if your baby keeps you up at all hours, you can rest assured, knowing that life insurance can help rebuild your family’s financial security if anything happens to you. Think ahead and keep your survivors out of debt in the event you pass away.

Losing you when there’s a young kid to care for can be extremely difficult on your spouse. Life insurance can help shelter your spouse’s financial burdens by covering things like funeral costs, outstanding debt, childcare, and just everyday living expenses.

So now you know how important LIFE INSURANCE is so get a quote today and start protecting your family.