Archive for January, 2010

« Older Entries
Newer Entries »

Women: Check Mammography Coverage Before Choosing Health Plan

January 20th, 2010 by admin | Comments Off | Filed in health insurance

Whether you’re male or female, choosing between hmo and ppo health plans can be difficult. For women, however, it’s important to take a close look at covered preventive services before selecting a plan? What’s a preventive service? It includes things like mammograms, which, until recently, were considered routine wellness care for women over the age of 40.

Late last year, however, the U.S. Preventive Services Task Force declared that mammograms aren’t actually all that helpful, especially for women under the age of 50. Just before Thanksgiving, 2009, they announced that the tests don’t need to be recommended for non-high-risk (no family history of breast cancer) women between the ages of 40-49, and for women aged 50-74, mammograms are now recommended biannually (every two years) , instead of every year.

Of course, if a woman wants annual mammograms, she should get them.

In terms of changes to health insurance coverage, there’s very little risk that your existing plan will drop your coverage, or deny a mammogram if your doctor recommends it. However, if you are shopping for a new plan, you should be certain to check the preventive services listings and know exactly when and how often mammography is covered before you commit.

While all 50 states mandate some kind of mammography coverage, the details of mandatory preventive services vary from state to state. You can check the listings for your state at the website for the Council for Affordable Health Insurance.

Tags: ,

Arizona Drivers: Uninsured? It’s Going to Cost You!

January 19th, 2010 by admin | Comments Off | Filed in auto insurance, insurance news

Uninsured motorists in Arizona have a new law to contend with: under a change in state insurance law which went into effect late in 2009, drivers who are convicted of driving without proof of insurance will face an automatic 90-day long suspension of their licenses.

Before the new law took effect, judges had the option to waive license suspensions if the cited driver purchased insurance, and provided proof of coverage, at the time of sentencing, but the new law takes that option away from judges, and gives the responsibility of suspending licenses to the Arizona Department of Motor Vehicles, which, according to Somerton Municipal Judge Manuel Figueroa, in an article in the Yuma Sun, makes the three-month suspension virtually automatic.

Judge Figueroa also said that uninsured drivers are getting a rude awakening in court because the change in the law has not been widely publicized. “This penalty continues to surprise motorists who have been accustomed to judges being flexible,” he told the Sun. He added, “This concerns me a lot, because this change was not published. We ourselves were surprised by it. We didn’t find out until the law was in effect, a month after the act. It’s affecting and will continue to affect thousands of people across the state.”

But how big a problem is this for Arizona? Capt. Eben Bratcher, spokesman for the Yuma County Sheriff’s Office, told the press that deputies issue citations for not having insurance, or proof thereof, on a “fairly regular” basis.

“It is more common that the motorists are just being careless and aren’t carrying their proof of insurance in their vehicle,” Bratcher told reporters. “There is also a citation for that.”

Bratcher also pointed out that while the new version of the law may not have been well publicized, Arizona has had a mandatory insurance law requiring all drivers to have liability insurance at a minimum, for many years. “We strive to keep up with all the changes in the law and once they become active to start enforcing them,” she said. “While we do recognize there are changes in the law that require a grace period, one isn’t needed in this case because having automobile insurance has been the law for many years.”

Under the mandatory insurance law, which covers motorcycles, mopeds, and golf carts, as well as cars and trucks, the required minimum liability insurance is $15,000 for bodily injury per person, $30,000 to cover bodily injury for more than one person and $10,000 for property damage.

In addition to a 90-day suspenion of driving privileges, convicted uninsured motorists are subject to a fine in the amount of $995.20, though this can be reduced to $231.60 upon presentation of proof of insurance, and a record that has no convictions for lack of insurance in the previous 39 months.

What do the judges think of the new law? Figueroa says they’re a bit frustrated by the change, “…because in the courts there’s nothing we can do. In my personal opinion, there are more important things that we should be doing to protect ourselves, but whatever, we will enforce this statute.”

Bratcher, on the other hand, simply stressed the point that drivers who have insurance, but aren’t carrying proof of coverage will not lose their driving privileges, though they would still have to pay the reduced fine. Only motorists who are completely uninsured will be subject to the license suspension. “It is a driver’s responsibility to carry their proof of insurance with them at all times,” she reiterated.

But Figueroa has another concern: even though lack of proof of insurance is not punishable with jail time, driving on a suspended license is. “This law is so drastic that it’s going to create another level of criminal offense,” he cautioned. “That’s why we recommend that people not ignore these infractions, and that they come to court so we can explain to them the situation and their options.” He added that in addition to the loss of driving privileges, drivers who are cited for lack of insurance will end up paying more in fines than they would have in insurance premiums.

Tags: ,

Crash! The Doctor (or Laywer) Did It!

January 15th, 2010 by admin | 1 Comment | Filed in auto insurance, insurance facts

When considering how to get auto insurance discounts many of us are advised to ask about credits or discounts based on what we do. Teachers, for example, often earn insurance discounts.

Would it surprise you to know that there are also occupations that can cause your insurance to increase? It’s true, according to information compiled last year by Quality Planning Corp, a company that provides research support to the insurance industry. They’ve amassed data on the rate that people in different professions tend to have car crashes – and Doctors and Lawyers topped the list.

Who else do you want to avoid while driving? Here’s the top ten list of the most car accident prone professions, based on annual crash rates per one thousand members of each profession.

  1. Doctors: 109 accidents and 44 speeding tickets. Too many hours on their feet, or too many distractions?
  2. Lawyers: 106 accidents and 37 speeding tickets. And you can bet, they’re likely to sue if they don’t believe they’re at-fault.
  3. Architects: 105 accidents and 72 speeding tickets. Somehow, I don’t see them racing to an architectural emergency, drafting pencils in hand.
  4. Realtors: 102 accidents and 39 speeding tickets. Maybe they need to focus on the road instead of the deal?
  5. Enlisted Military Personnel: 99 accidents and 78 speeding tickets. Leftover adrenaline, maybe?
  6. Social Workers: 98 accidents and 33 speeding tickets. Apparently they’re too wrapped up with the concerns of their charges, to take charge on the road.
  7. Manual Laborers: 96 accidents and 77 speeding tickets. Okay, we know you’re paid by the hour, but… (Seriously, this may be due to long hours, and commutes in low-light conditions.)
  8. Analysts: 95 accidents and 40 speeding tickets. Put the calculator down, and pay attention to the road.
  9. Engineers: 94 accidents and 51 speeding tickets. Shouldn’t they understand the concept of objects in motion?
  10. Consultants: 94 accidents and 50 speeding tickets. Take some advice: consult your speedometer and the view out your windshield from time to time.

Of course, these professions merely represent the top ten. Others that made the list, but aren’t ranked quite so highly (or is that poorly, all things condsidered?) are: accountants, politicians, firemen, law enforcement personnel, salespeople, librarians, nurses and dentists.

Tags:

Flood Insurance Changes in Illinois and Nebraska

January 14th, 2010 by admin | Comments Off | Filed in flood insurance, insurance news

It’s difficult enough to know when flood insurance is required when you live in a relatively stable region, but property owners in three counties in southwestern Illinois are in a kind of flood zone limbo, while they wait for new Mississippi River flood maps to be drawn.

According to Illinois Senator Richard Durbin, the Federal Emergency Management Agency (FEMA) has informed him in writing that there will be a delay of new flood insurance maps for Madison, Monroe, and St. Clair counties, until at least 2011.

Originally the maps were to be published sometime this year, but FEMA has told Senator Durbin that more time is needed for accurate analysis of public comments about the maps, as well as to handle “other required administrative steps.”

Since the revised maps are expected to result in a significant increase to the size of the flood plain, the number of people for whom flood insurance will be mandatory, and the cost of such insurance, the people of Illinois are not upset about the reprieve.

Further west, in Nebraska, there are also changes to flood insurance in the works, but in this case the news is good: the city of Lincoln, NE has received a rating upgrade that will save local property owners money on their flood insurance

A press release from Lincoln Mayer Chris Beutler said that the city’s rating improved from class 7 to class 6 in the Federal Community Rating System. Mr. Beutler attributes the improvement to the city’s extensive work with federal officials to gain credits to the flood protection provided by the Salt Creek levee.

Representatives of the City of Lincoln say that the improved rating will help local property owners save about 20% a year – or roughly $160 – on flood insurance, as opposed to a savings of 15% ($120) under the old rating.

Tags: , , ,

Life Insurance Shopping 101

January 13th, 2010 by admin | Comments Off | Filed in advice and how-tos, life insurance

If you’re like most people, you see those television commercials selling life insurance to people between the ages of fifty and eighty and you pretty much blow them off. If you’re particularly technologically savvy, you might even use your DVR to watch all television, so you never have to see those commercials at all.

While it’s true that you shouldn’t buy insurance – any insurance – because of a television commercial, life insurance actually is a good idea, so here are some tips to help you shop for it:

  1. Time is Money: If you’ve ever wondered, When should I buy life insurance? Your answer is “Now.” Insurance companies round up your age – a 39-year-old will be priced as if she’s 40 – and premiums rise as you grow older, so it’s always the best plan to buy early – ideally in your late 20′s – to lock into the best possible rate.
  2. Research Counts: Before you ever speak with an insurance agent, do some research on the types of policies you’re considering, and on the companies you might want to buy from. Then ask for quotes from more than one company, and compare them closely – making sure you’re getting the coverage amounts you want for a price you’re willing to pay. Don’t let a pushy sales agent talk you into more coverage than you need, and be sure to ask questions if you have them.
  3. Pay Annually: If your finances allow it, try to pay your annual premium in one lump sum instead of making installments. You can save up to 20% by doing so. If this isn’t possible, opt for paying via EFT (electronic funds transfer) as many insurers offer a discount for electronic payments.
  4. Be Honest: No pun intended, but honesty really is the best policy. Yes, you’ll have to pay a higher premium if you haven’t kicked the smoking habit yet, but tell the insurance agent anyway – if you don’t you run the risk of having your policy canceled. If you have other health issues – high blood pressure, for example – be sure to visit a doctor and get it resolved before your medical exam. No-exam insurance is available, but it’s much more expensive.

If you’re really uncertain about whether or not you need life insurance, consider whether or not your family will be placed in financial jeopardy if you were to die. If the answer is yes, start shopping today.

Tags: , ,

Social Events and DUIs: When the Party’s Over

January 12th, 2010 by admin | Comments Off | Filed in homeowners insurance, insurance facts

Here’s something not generally included in lists of DUI frequently asked questions: in most states, if you’re serving alcohol to guests in your home, you can be held responsible for what happens to your drunk friends after the party’s over. Whether they end up in a hospital emergency room after tripping and falling, or crashing into another car while driving home, you can be sued. In fact, even if your friend doesn’t sue you, anyone they injure in a car accident could.

For this reason, if you have assets to protect, and live in a state where social hosts are liable for their guests’ after-party behavior, you must have adequate liability insurance coverage.

According to a 2008 report from the Insurance Information Institute, thirty-seven states have some kind of “social host” law on their books, or have set a legal precedent allowing you to be found liable if a guests injure themselves or others as a result of consuming alcohol at your party. Some of the laws have conditions – in Nevada and South Carolina, for example, you’re only liable if your party guests are under the age of 21.

If you’re like many people, or roughly one-third of homeowners, according to the Indepenent Insurance Agents and Brokers of America (IIABA), you never knew you could be held responsible for friends who over-indulge at your home, but the good news is, if you have homeowners insurance, the liability coverage protects you against such losses.

Says IIABA spokesperson Margarity Tapia, “We found that people didn’t understand what their homeowners insurance covers and that they could be held responsible when someone leaves their home intoxicated.”

Do you live in a state that holds you liable for alcohol-related accidents and injuries? Here’s the list of states where such laws are in force:
Alabama, Alaska, Arizona, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Louisiana, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, Utah, Vermont, Washington, Wisconsin and Wyoming.

The remaining states, Arkansas, California, Delaware, Hawaii, Kansas, Kentucky, Maryland, Oklahoma, South Dakota, Tennessee, West Virginia, Virginia, and Washington, D.C., do not have social host liability hosts on the books.

Source: Insurance Information Institute, as of October 2008

Tags: , ,

Renters Insurance

January 11th, 2010 by admin | Comments Off | Filed in advice and how-tos, renters insurance

If you’re living in an apartment, saving pennies so you can buy a house some time, and trying to cut costs where you can, you may find yourself wondering, “Is renters insurance good?” You might find yourself arguing, “After all, the landlord’s insurance will pay to rebuild the apartment if something happens. It’s not my responsibility.”

While it’s true that your landlord’s coverage is designed to replace the apartment building, the contents of your apartment – your clothes, your computer, any art, antiques or jewelry you own – those are all your responsibility, and that makes renters insurance not just “good,” but essential.

Just how essential is it? According to the Georgia Insurance Information Service, renters insurance is crucial for the following reasons:

  • It protects you against losses due to: fire or smoke, lightning, vandalism, theft, explosion, windstorm, and water damage from plumbing issues (but not from flooding, which requires flood insurance even for renters.)
  • Covers you against liability (within your policy limits) is someone slips and falls inside your apartment, or is injured by one of your possessions.
  • Insures your personal property against theft, when you’re away from home (for example, if your laptop is stolen from a hotel room.)
  • Covers your bicycle, if it’s stolen while you’re out on a ride, but other vehicles are not typically covered.
  • Is written not just for standard apartments, but also serves as the template for contents insurance for condos, co-ops and townhomes.

If you’re shopping for renters insurance, the best way to get a competitive rate is to be a savvy shopper. Here’s how:

  1. Inventory Your Belongings: Before you ever commit to a policy, before you even start looking, catalog all of your possessions, including descriptions, serial numbers, estimated values, purchase dates, and receipts (if you have them). Taking pictures of everything, or shooting a video, isn’t a bad idea either. Not only will this help prospective insurance companies generate an accurate quote, but it will also serve as a useful tool later, if you ever have to make a claim. Make a copy of everything and store it outside your home, for backup.
  2. Ask Questions: There are three key things you’ll want to ask about: theft limits (Ask for a list of standard coverages, compare it to your inventory, and then you’ll know if you need to purchase any personal property riders to extend your coverage), cash or replacement value (Coverage can be based on either cash value or replacement value, the first takes the age and condition of your possessions into account, the second bases value on the price of a similar item in today’s market. Replacement value policies tend to be more expensive.), and deductibles (the amount you pay up front if you make a claim. Generally, the lower the deductible, the higher your premium.)
  3. Ask About Discounts: Just as with conventional homeowners insurance, you can save money on a renters policy by bundling your auto insurance with the same company, or by adding security systems, deadbolts, or smoke detectors to your apartment. You might even earn a discount for being a nonsmoker. Discounts vary from company to company – be sure to ask.
  4. Comparison Shop: Always get quotes from more than one insurance company, and compare them closely before signing a contract. Sometimes one company may offer more coverage for less money, but offer less flexibility.

While these tips are excellent advice, don’t let the comparisons bog down making a decision. Renters insurance can’t help you, if you don’t actually have it.

Tags: , ,

« Older Entries
Newer Entries »