About average insurance rates and quotes all over the U.S.

Getting a mortgage in today's economy etc

noreply@blogger.com (Don Francis) — Sat, 04 Jul 2009 15:08:00 +0000

This is a burning question on the minds of many homebuyers these days, and with good reason. There are enough horror stories floating around that one cannot help but worry, even if you think you have your ducks all lined up.

First, for the overwhelming majority of buyers, the mortgage business today consists of three major players: FHA, Fannie Mae, and Freddie Mac. VA plays a minor role. Although some retail lender – either a bank/mortgage banker/mortgage broker – will originate your loan, all loans will be quickly sold to one of these major entities. Thus it is their rules that predominate and your compliance with those rules will determine if you get a loan.

See the rest: Issues involved in getting a mortgage

Owner give up scams etc

noreply@blogger.com (Don Francis) — Sat, 04 Jul 2009 14:35:00 +0000

Driven to desperation, a growing number of financially strapped car owners are torching, sinking or ditching their vehicles and then reporting them stolen to cash in on the insurance.
SUVs have been found ablaze in the Nevada desert, cars have been dumped in a Miami canal and a BMW was discovered buried in a field in Texas. Some vehicles have been parked in the path of a hurricane.

See the rest: Debt stricken go desperate

Self-insured employers purchasing excess insurance can recover from Nevada's workers compensation entity guaranteeing insolvent insurer claims, the state's Supreme Court has ruled.

See the rest: Nevada self-insured employers may get guaranty funds

Florida Natural disaster cover fund etc

noreply@blogger.com (Don Francis) — Sat, 04 Jul 2009 14:21:00 +0000

Florida residents and business leaders told federal lawmakers Thursday that the rising cost of property insurance is hitting state residents and the economy hard, and called on Congress to pass legislation for a "catastrophe fund" to help local homeowners.

See the rest: Floridians want federal cover fund for catastrophes

The Florida Office of Insurance Regulation and its counterpart in Germany agreed to share information and coordinate regulatory duties on issues that affect consumers in both countries.

See the rest: Florida Germany Insurance partnership

Cheapest Florida Homeowner Insurance: How do you get it?

noreply@blogger.com (Don Francis) — Sat, 04 Jul 2009 13:10:00 +0000

According to Andy Bicknell, there are four things you must keep in mind when seeking for home insurance in Florida.

He says

"1. Monthly Premium – No matter where you live a monthly insurance payment is an expense you have to fit into your monthly budget. It can take a good deal out of your paycheck so it is important to get the best deal possible. Make sure to fully review any policy before you make a final decision to be sure that it covers your most valuable asset, your home, sufficiently. Also look for discounts and many insurance companies offer these for their customers. One of the more popular discounts is a combination Florida homeowner and automobile policy.

2. Insurance Company Longevity – Be sure to check the history of the insurance company you are dealing with. Many fly-by-night operations pop up now and again with their only motivation being getting a hold of your hard earned money. If the deal seems too good to be true exercise caution before signing the policy.

3. Customer Satisfaction – Getting a good deal is only half the story when it comes to home insurance. The other half is the customer service side of the equation. When researching the different providers be sure to check with the better business bureau to see how their customer service is rated. Do they pay their claims in a timely manner with little hassle or do they have a reputation of making their customers wait an inordinately long time.

4. Comfort Level – Are you comfortable with the way you have been treated during the insurance quote process. The sales people should be genuinely helpful and willing to answer all your questions. You should get the feeling that if and when you make a claim they will be there to help and assist you in a timely manner"

According to Crex Sirius, it is advantageous from a cost saving point of view to purchase more than one policy at once.

He says "Bundle your policies Some companies that offer several types of insurance (homeowners, car, life, etc.) will take around 10 percent off your premium when you buy more than one policy from them. Before you buy, though, shop around to make sure the combined price really is lower than if you bought from different companies"

Compare Washington D.C. homeowners insurance rates

noreply@blogger.com (Don Francis) — Thu, 02 Jul 2009 19:40:00 +0000

Homeowners insurance rates in Washington are twice as high as those of Oregon and Ohio

However, Florida home insurance rates are 37% higher than those in D.C.

Oklahoma rates are just about the same as those of D.C.

Washington rates are just slightly lower than those of Louisiana

Utah home insurance rates are about half those of Washington D.C.

San Francisco Home Insurance savings

noreply@blogger.com (Don Francis) — Thu, 02 Jul 2009 12:51:00 +0000

We offer coverage you won't find in traditional homeowner policies. We can also offer higher limits on a wide range of personal property, including securities, manuscripts, watercraft and trailers. Even your valuable stamp collection!

We understand the importance of safeguarding your personal information. That's why we use the highest level of available security to protect it. And you can forget receiving junk mail,we hate spam just as much as you do. That's why we promise not to sell your e-mail address to mass marketing companies.

Do You Need Insurance and Need To Save Money?
Start Your Free Insurance Quote Right Now!

Compare Insurance Quotes and Shop For Savings.

Save up to 35% On insurance
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Free service with no obligation!

IF your FICO score is at least 550, and
your debt-to-income ratio is less than 50%, and
you have 12 months of clean credit, YOU SHOULD BE ABLE TO GET A HOME LOAN.

In fact, rates are so low that you can possibly have a mortgage payment for about the same amount as you are paying for rent!

You can get cheaper homeowners insurance now!

Colorado Insurance rates information

noreply@blogger.com (Don Francis) — Thu, 02 Jul 2009 10:00:00 +0000

Aurora city police have arrested 11 drivers with obnoxiously loud stereos as part of their "Operation Thump Shaker." Each of these offenders have received tickets costing them $75 and above.

The Rocky Mountain Insurance Information Association has said that the spate or tornadoes, rain and hail that have hit Colorado over the last 8 days has caused at least $160 million worth of damage.

Homeowners insurance and Chinese drywall problems

noreply@blogger.com (Don Francis) — Thu, 11 Jun 2009 19:41:00 +0000

NEWS ITEMS ABOUT DRYWALL

Homeowners plagued by Chinese drywall are finding that their insurance policies won’t cover the damage caused by the material’s fumes. According to BradentonHerald.com, insurance companies are citing provisions in homeowners policies that exclude coverage for damages caused by pollution and construction defects.

***
It was February 22, and Lawrence Riesz finally had an idea about how to diagnose all the mysterious problems in his home. Since he and his wife bought the place in Parkland two years ago, the refrigerator had quit inexplicably. Then the dryer. Then the intercom. And three TVs had failed. He thought it might be electrical, but experts he brought in offered no explanation. Then there were the health issues. Riesz and his wife, Jennifer Schnee, an ob-gyn, and their two children had all suffered from sinus infections. Two of their three children — a 2-year-old and 4-year-old — had developed asthma. He knew it could all be normal colds, and asthma runs in the family, but he couldn't help thinking that what was corroding his appliances could be doing the same to his family.

***
Sherri and Ira Rojhani stopped paying the mortgage on their 2-year-old South Florida home in April, victims not of a troubled economy, but, they say, of drywall from China that they believe is making them sick.

They join a growing list of homeowners in 13 states who face foreclosure or the prospect of paying both their mortgage and rent on alternate housing as they seek relief from what they describe as corrosive gasses emitted from the Chinese drywall. The drywall is now the subject of several scientific studies.

For full stories visit:

www.newsinferno.com

www.browardpalmbeach.com

www.cnn.com

Homeowners insurance compensation double payment

noreply@blogger.com (Don Francis) — Mon, 08 Jun 2009 17:42:00 +0000

QUESTION

Last month a tree fell on our garage. The tree was the city's and the city said they'd take care of it. The city's insurance adjuster came out to assess the damage and make an estimate.

We are waiting to here back from them on whether it's going to go through or not. My step-father said while we are waiting to hear back, we should also turn it into our homeowners insurance.

Won't we get in trouble if we get money from the city's insurance company (if they admit guilt) and also from our insurance company? Or is that possible?

ANSWERS

1.
You should notify your insurance company telling them everything that has happened, including your discussions with the city.

Your company will work with the city and the city's insurance company directly (along with you) to ensure proper payment.

In the unlikely event that you get double paid, you should notify both parties. Most likely your insurance company will direct you how to handle this. But again, this is unlikely to happen once you notify your insurance company.

Right now you are relying on government bureaucracy, which is often slow. Involving your insurance company will expedite and legitimize the matter.

2.
You need to inform your insurance company of the damage and let them know that the city is working on an estimate for you.

Inform them that you just wanted them to understand the circumstances in the case the city does not pay your claim and you need to file one under your insurance.

Let them know you do not want to file a claim yet, but to have them make a note on your file. This way it ensures that if you do get money from the city you will not also get money from the insurance company.

17 year old Teenager Auto Insurance

noreply@blogger.com (Don Francis) — Mon, 08 Jun 2009 10:06:00 +0000

Alan K in Virginia wants to know if a 17 year old male needs to be added to auto insurance policy or if is he covered by his parents according to Virginia law?

Answers to this question

He needs to be added to his parents' policy as an additional driver.
If the teen is licensed he needs to be added .If he just has his permit he doesn't have to be added till he is licensed.
Teen's parents can add him, it is not automatic though and is going to cost a bit.
Yes, once he gets his license, he must be added on. There's no "automatic" coverage for household members.
Cheap car insurance is a popular avenue these days, but you should be sure that you're getting all of the coverage you need, as damage to your car or another person's car may cost you money out-of-pocket if you don't have sufficient coverage and your car insurance rate may go up.

How Insurance Companies are rated

noreply@blogger.com (Don Francis) — Fri, 05 Jun 2009 18:36:00 +0000

U.S. Insurance companies are rated by the following criteria:

Number of complaints lodged against them

Financial strength

Fewest complaints

Highest payouts

Lowest expense ratio

Number of policies

Total insured amount

Typically, the rating is done by the major rating agencies such as A.M. Best, Moodys, Duff and Phelps etc

Florida Insurance: Mitigation verification

noreply@blogger.com (Don Francis) — Thu, 04 Jun 2009 19:20:00 +0000

FACTS ABOUT MITIGATION VERIFICATION

Florida homeowners can reduce their insurance rates by filling a Uniform Mitigation Verification Inspection form. This form acts as the basis upon which inspections of your home are conducted by home insurers in order to know what insurance rate discounts you are entitled to based on amendments you have made to your home.

The purpose of these inspections is to determine construction features that reduce wind damage and loss.

An inspection can lower your home insurance by between 20% and 40% in most cases.

An inspection can cost you between $100 and $150.

A verification form is valid up to 5 years provided no material changes have been made to the structure.

California Anti Pre-existent Condition law proposed

noreply@blogger.com (Don Francis) — Thu, 04 Jun 2009 16:39:00 +0000

It would no longer be easy for health insurers in California to drop customers based on the excuse of a "pre existent medical condition". If proposed legislation backed by Cali insurance chief Steve Poizner is anything to go by, insurance companies can no longer drop such cases if they did not do their homework in examining individuals conditions before drawing up their policies.

Who said what on this issue?

"Consumers deserve to have their insurance companies hold up their end of the deal, paying out claims and not canceling coverage when it's needed most,"

Steve Poizner

"These are very good, pro-consumer regulations that should be enacted tomorrow,"..............." There is not one insurer in the past that has even come close to complying with regulations like this. And if they take effect, there would be very little rescission activity, very little."

William Shernoff, Claremont Lawyer

Atlanta fire rating and insurance rates

noreply@blogger.com (Don Francis) — Thu, 04 Jun 2009 16:02:00 +0000

A debate is going on as to whether insurance rates in Atlanta are going to rise as a result of a fall in the city's fire safety rating. Based on a recent assessment, Atlanta's rating dropped from 2 to 4 out of 10

WHAT'S BEEN SAID ABOUT THIS ISSUE?

“[The rating drop] can be stopped by the City Council by saying life safety is a priority”

“The citizens have a right to know what the capabilities of its fire department are”

Georgia Insurance and Fire Safety Commissioner ( and contender for Governor) John Oxendine

“While we are disappointed in the slight drop in rating, we are proud to be one of the highest ranked cities in Georgia,”

Atlanta's Fire Rescue Chief Kelvin Cochran

American Healthcare debate continues

noreply@blogger.com (Don Francis) — Thu, 28 May 2009 19:18:00 +0000

Both sides in the American healthcare reform debate are stepping up their pressures and opinions. Some believe Government has no place in healthcare, while some believe the insurance companies can no longer be solely entrusted with the management of the american people's health.

WHO SAID WHAT ON THIS MATTER

“Health care is an emotional issue for many people, a very personal issue, and there are people who take a very ideological approach,”

Linda Douglass, White House spokeswoman

*** *** ***

“Doctors and patients together should be making health care decisions, not the insurance companies.”

Dr. Bethany Picker

*** *** ***

“It’s important that people have a choice between keeping the plan that they are happy with and choosing a public insurance plan.”

Dr. Karen Hover, Family physician

*** *** ***

Illinois Allstate hikes home insurance rates.

noreply@blogger.com (Don Francis) — Thu, 28 May 2009 18:40:00 +0000

Allstate Corporation is to raise homeowners insurance rates in Illinois by at least 20% in some cases. This increase exceeds expert forecasts.

WHO SAID WHAT ON THIS ISSUE?

"There have been escalating losses related to weather,".............................."The average cost of claims increased and the number of events -- all that bakes into the need to have to make these rate increases."

Shaundra Turner, Allstate spokesperson.

"Record thunderstorms, hail, tornadoes, have produced billions in losses for insurers in the Midwest. There was a particularly bad spate over the last year."

Bob Hartwig, President of American Insurance Institute.

Note: The average homeowners insurance rate in Illinois is between $800 and $1000

Iowa insurance rates and your credit score

noreply@blogger.com (Don Francis) — Sun, 24 May 2009 14:58:00 +0000

Iowa insurance companies are using their customers credit scores to determine their insurance rates. Some insured have had their rates increased as a result of unfavorable changes in their credit ratings.

WHO SAID WHAT ON THIS ISSUE

"It's a relevant time now to ask if credit scoring is being affected by things that are out of consumers' control"
Angel Robinson, Iowa's Consumer Advocate for Insurance

"Prohibiting the use of credit-based insurance score would exact a steep toll on the typical American family"

"The use of scores is therefore likely to make the price of insurance better match the risk of loss posed by the consumer,"

"Thus, on average, higher-risk consumers will pay higher premiums and lower-risk consumers will pay lower premiums."
Robert Hartwig

Idaho health insurance costs

noreply@blogger.com (Don Francis) — Sat, 23 May 2009 17:22:00 +0000

Idaho citizens are paying a lot for health insurance. Their health insurance rates have risen by well over 100% in the last seven years. This is due to almost no competition as only 2 strong health insurers, Blue Cross & Regence BlueShield, hold sway in the state.

Who Said What on this matter?

"When just a couple of companies hold a near-monopoly, they not only set the prices, but they also make the rules and call the shots"
Bret Noble

"Regence BlueShield of Idaho operates in a very competitive Idaho market, along with Humana, Pacific Source, Altius, United, Primary Health and Blue Cross of Idaho, to name some of the companies"
Regence BlueShield spokesman Mike Tatko.

About Ohio auto insurance today

noreply@blogger.com (Don Francis) — Sat, 23 May 2009 17:01:00 +0000

Apparently, most auto insurance policy holders in Ohio don't have as much protection as they think because they don't take the time to understand the details of the policies they hold.

Who said what on this matter
“Consumers need to be aware that their full coverage policy is probably meaningless in a whole host of situations.”
Brian Wilson, Canton Attorney

"This is just another way that the insurance industry can make more money. Smaller policy larger premium. It would not be so bad if the policies were readable. They are filled with legaleze"
Clem, a consumer

"I got enough money to pay off my wrecked car and was stuck without a car. The other driver was at fault and I had to argue with an adjuster just to get what I got. Ridiculous"
P-Oed, a consumer

Note: The Average auto insurance rate in Ohio is $1350

Blue Cross Media War

noreply@blogger.com (Don Francis) — Sat, 23 May 2009 16:46:00 +0000

Blue Cross Blue Shield is planning a media war to challenge the Obama administrations plan to introduce a cheaper public health insurance option for Americans, which they feel will introduce inefficiency, among other things.

Who Said What
"At the rate we're going, we are expected to spend one-fifth of our economy on health care within a decade. And yet we're getting less for our money," Obama

"We support health care reform, and we share many of the same fundamental goals held by those seeking a government plan. The difference is that we think the smartest approach is to build on the employer-based system that works for more than 160 million Americans today," Blue Cross Spokesman Lew Borman

Understanding Annuities: Basics

noreply@blogger.com (Don Francis) — Fri, 22 May 2009 13:15:00 +0000

If you are tired of the rock and roll of the stock market, your IRA is maxed out, and safety and security have become your investment watchwords, then annuities may be the right financial product for you.

What is an annuity? Quite simply, it is a contract between an individual and an insurance company that promises an income stream – now or in the future – for an investment of monies.

Some Basics

There are two main categories of annuities – fixed and variable. With a fixed annuity, you will get an interest rate set by the insurance company. With a variable annuity, you can choose among different sub-accounts, which provide a variety of underlying investment options, including stock and bond funds.

There is flexibility in how the annuity is structured – either deferred or immediate. A deferred annuity begins payout at a future time, whereas an immediate annuity begins payout immediately or within one year of issuance. You can also annuitize a deferred annuity.

Deferred annuities have two phases – accumulation and pay out, sometimes referred to as distribution. The accumulation phase can be set up either with a lump sum or through a series of deposits over time. Moreover, annuities can be paid out in several ways: lump sum withdrawal, partial withdrawals as needed, or as a regular income stream.

Furthermore, unlike other savings plans, there is no government prescribed annual limit on contributions. This aspect may be especially helpful for people who do not have an employer-sponsored retirement plan, those who have maxed out their IRAs and workplace savings plans, and/or anyone getting a late start on retirement savings.

An important benefit of annuities relates to taxes. Currently, annuities allow the owner’s money to grow tax-deferred until it is distributed. However, distributions taken prior to annuitization are generally considered to come from the gain in the contract first. If your contract is annuitized, a portion of each payment will be considered taxable and the remaining portion will be a non-taxable return of your investment in the contract, which is also called the “basis.” Once the investment in the contract is depleted, all remaining payments will be fully taxable. If the contract is tax-qualified, generally, all payments will be fully taxable. Distributions prior to age 59 ½, may be subject to an additional 10 percent federal tax penalty.

Below is an overview of fixed and variable annuities. For more specific information about how annuities are structured and how they can fit into your investment portfolio, please talk to a financial professional.

Fixed Annuities – The Less Risky Alternative

The most easily understood annuity product is a fixed annuity, which – depending on its structure – can promise you a guaranteed lifetime income, regardless of how long you live. Factors including the amount of money deposited, the payout option chosen, and crediting rates will determine the payment amounts, which may or may not be enough to meet your income needs.

The main advantage of this product is its relative safety, which depends on the claims paying ability of the company you buy the annuity from. Your principal (initial contribution) will not diminish over time, unless you withdraw it. It may also provide a reliable (if conservative) rate of return over the life of the contract. These contracts generally offer a choice between various guarantee periods, with one, three, five and six year guarantees being most common.

In addition, there are fixed annuity products that can provide investors with a higher rate of return forbearing interest rate risk associated with changing interest rates, if they take withdrawals prior to the end of a guaranteed period. These are called market value adjusted annuities and generally have crediting rate guarantee periods ranging from five to 10 years. Other annuity products tie the crediting rate to external market indices, like the S&P 500 or the 5-year Treasury rate.

As you can see, fixed annuities come in many different variations to suit the diverse tastes of individual investors. While fixed annuities are considered the safer annuity product, please remember that fixed annuities are subject to the claims paying ability of the issuing insurance company.

An indexed annuity earns interest on the potential upward movement of an index, often one based on a certain basket of equities and in some cases, the treasury interest rate. Indexed annuities also typically feature a minimum interest rate. This rate serves as a “safety valve” by providing growth even when the market performs poorly. Indexed annuities are a popular option for people who want greater growth potential than that offered by a standard fixed annuity but do not want the investment risk of a variable annuity.

Variable Annuities – Little Known Benefits

If you are willing to take on more risk, then variable annuities may be right for you.

While benefits and security are not nearly as straightforward as those for fixed annuities, variable annuities still offer several benefits to investors that traditional equity products may not.

You can allocate funds between several investment options called sub-accounts, and reallocate funds periodically among sub-accounts without tax penalties. You may even be able to allocate a portion of your investment to a fixed account option. Also, like fixed annuities, earnings are tax-deferred.

Another advantage of this annuity product is that there are no initial sales charges, however, there are surrender and contract charges. Generally, annuities are no-load investments. This allows more of your money to be invested rather than to pay sales charges.

Moreover, deferred variable annuity contracts (fund now-payout later) usually include a death benefit if the accountholder should die during the annuitzation phase of the contract.

Variable annuities can also offer minimum accumulation benefits, depending on the product’s features. However, there is a cost associated with this feature.

A prospectus is the most important source of information about a variable annuity’s investment options. It’s important to keep in mind that variable annuities are designed to be long-term investments and substantial charges may apply if you withdraw your money early.

Considering Annuities

Is an annuity right for you?

Is an annuity right for you? The answer may depend on your individual financial situation and savings goals.

In any event, do your homework before you invest and ask for the assistance of a financial professional, who can help you match the right product to your needs.

Article is from www.monitorbankrates.com

Protest over planned Blue Cross rate increase etc

noreply@blogger.com (Don Francis) — Fri, 22 May 2009 11:56:00 +0000

Angry Blue Cross subscribers are protesting the company's intention to increase premiums for some private insurance plans by as much as 50%.
The state of Maryland is about to pass a law that will clearly clarify responsibilities between insurers and condo owners in condo insurance administration
The contentious issue of homeowners insurance in Florida becomes more so as The Florida Association of Insurance Agents contends that Florida rates are still not high enough to match the risk of hurricanes.

Soberteen patent

noreply@blogger.com (Don Francis) — Wed, 20 May 2009 19:17:00 +0000

Two individuals are pursuing patent protection for an insurance product which is aimed at promoting safe driving among teens.

This product, named SoberTeen, is designed after the blackbox concept and records certain indices by which driving behaviour can be evaluated. Such indices are force of braking, speed and cars nearness to other vehicles.

The pair seek to sell the product to auto insurers who may then offer discounts to those who buy and install the device.

A great number of fatal auto accidents in the USA are caused by teen drivers

Sylvester, Georgia insurance service rating and other news

noreply@blogger.com (Don Francis) — Sat, 16 May 2009 18:20:00 +0000

The average home insurance rate for the state of Georgia would be $800 and $1000 for 2009. Average Georgia Auto Insurance Rates for April 2009 are calculated at $1681

A report says that the medicare trust fund is going broke as it is not making enough from taxes and interest rates to balance what it has given out to beneficiaries.
The city of Sylvester in Georgia has achieved an improvement in it's Insurance Service Organization rating i.e from 5 to 4. This is expected to bring about a 15 -20 % drop in insurance premiums there.
The National Restaurant Association has praised the SHOP act for it's support for small business health insurance.

Healthcare reform hots up

noreply@blogger.com (Don Francis) — Sat, 16 May 2009 17:17:00 +0000

It appears the U.S. Democratic party is pushing mandatory healthcare for all Americans to be subsidised by Govt. Also, according to the plan, employers are expected to provide health insurance for all their employees or face a penalty.

Obama's bipartisan approach seems to be working in this instance as both parties representatives seem to be playing a role in Forming the bill.

There indeed seems to be a great concern for America's 50 million uninsured.