Archive for the ‘advice and how-tos’ Category

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Does your homeowners insurance include a “Santa” clause?

December 23rd, 2010 by Iris | Comments Off | Filed in advice and how-tos, homeowners insurance

Homeowners in the UK risk losing more than Britons risk losing over £23 million worth of presents via burglary this Christmas, and sadly, that may not be covered by the usual contents clause in their home insurance coverage, at least according to HSBC.

To help protect consumers, the bank is urging them to read their policies and look for a so-called “Santa clause” which is meant to cover the additional value of goods in their houses during the Christmas period. Two companies, More Than and Tesco Personal Finance have increased their basic home contents coverage by ten percent during the holiday season, for example.

Also of concern to insurance companies is the increased risk from theives. HSBC says that as many as 64,600 British homes could be burgled over the holidays, and adds that only about fifty percent of the population follows basic security practices, like keeping their Christmas trees away from windows.

Stephen Young, head of general insurance at HSBC told the press that, “Every year, over 60,000 people have their Christmas ruined by opportunistic thieves. “Before starting your Christmas shopping, make sure your home is secure and check that your insurance policy has a ‘Santa Clause’ to cover all those extra gifts.”

While most American insurers don’t offer such clauses, temporary riders to cover additional value are available. If you go crazy with Christmas shopping, consider giving yourself the gift of security this year.

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Chimney Safety Tips from CSIA

December 8th, 2010 by Iris | Comments Off | Filed in advice and how-tos, fire insurance, homeowners insurance

It’s December, which means that Jack Frost is probably nipping at your nose, as the song says. Even if you’re not actually roasting chestnuts over an open fire, the Chimney Safety Institute of America (CSIA) wants to make sure that your fireplace is a heat source and not a safety hazard this winter. To that end they’ve published their top ten safety tips for wood burning fireplaces and stoves. Enjoy:

1. Get an annual chimney check. Have chimneys inspected annually, and cleaned as necessary, by a qualified professional chimney service technician. This reduces the risk of fires and carbon monoxide poisonings due to creosote buildup or obstructions in the chimneys.

2. Keep it clear. Keep tree branches and leaves at least 15 feet away from the top of the chimney.

3. Install a chimney cap to keep debris and animals out of the chimney.

4. Choose the right fuel. For burning firewood in wood stoves or fireplaces, choose wellseasoned wood that has been split for a minimum of six months – one year and stored in a covered and elevated location. Never burn Christmas trees or treated wood in your fireplace or wood stove.

5. Build it right. Place firewood or firelogs at the rear of the fireplace on a supporting grate. To start the fire, use kindling or a commercial firelighter. Never use flammable liquids.

6. Keep the hearth area clear. Combustible material too close to the fireplace, or to a wood stove, could easily catch fire. Keep furniture at least 36” away from the hearth.

7. Use a fireplace screen. Use metal mesh or a screen in front of the fireplace to catch flying sparks that could ignite or burn holes in the carpet or flooring.

8. Install smoke and carbon monoxide detectors. Place detectors throughout the house and check batteries in the spring and fall. When you change your clocks for Daylight Savings Time, remember to check your batteries.

9. Never leave a fire unattended. Before turning in for the evening, be sure that the fire is fully extinguished. Supervise children and pets closely around wood stoves and fireplaces.

10. The CSIA recommends annual inspections performed by CSIA Certified Chimney Sweeps. These chimney sweeps have earned the industry’s most respected credential by passing an intensive examination based on fire codes, clearances and standards for the construction and maintenance of chimney and venting systems. The National Fire Protection Association also recommends that all chimneys are inspected on an annual basis.

One tip they didn’t recommend? Check the status of your fire insurance policy…just in case.

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Hosting a Party? Check Your Insurance Coverage

December 6th, 2010 by Iris | Comments Off | Filed in advice and how-tos, homeowners insurance, insurance facts

The Insurance Information Institute (III) hopes everyone had a happy Thanksgiving, and offers best wishes for the various December holidays, and the coming New Year.

As its gift to everyone, the III wants us all to remember to review the liability coverage in our homeowners or renters/condo insurance policies before we start planning any more parties, because cold weather plus warming alcohol plus guests driving home means party hosts are responsible if a guest is legally intoxicated when they leave, and is subsequently involved in a car accident.

The legal term for this is “social host liability,” and it extends to both criminal and civil responsibility whenever you serve alcohol to a guest. While some states don’t consider you liable, other states increase your liability if your alcohol-drinking guest injures or kills another person. It’s even worse if you served alcohol to a minor, so never, ever do this.

Wherever you live, you should take steps to keep your party guests safe after they leave your home. Here are some points to consider:

  1. Planning a party? Check with your insurance agent to see what kind of coverage you have under your homeowners policy, and be sure to ask about special conditions or limitations relating to serving alcohol to guests.
  2. Think about hiring a professional bartender, or at least ask a friend to be your designated mixologist. This will keep drink sizes reasonable, and allows consumption to be monitored. Professional bartenders are also trained to detect intoxication, and are good about refusing to serve those who have over-indulged. It’s also a good idea to keep your own alcohol consumption fairly low.
  3. Stop serving alcoholic drinks about an hour before your party ends, and also make sure you have non-alcoholic drinks on hand. Before each of your guests leaves, assess their situation, and if you think anyone is too drunk to drive, offer to call a cab, arrange a ride, drive them home yourself, or offer a spare bed or couch for the night.

Remember that if you live anywhere where winter involves snow and ice, alcohol consumption is even more dangerous, so keep your eye on your guests, and don’t be afraid to keep hold of their keys.

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Home Inventory 101

December 1st, 2010 by Iris | Comments Off | Filed in advice and how-tos, homeowners insurance, insurance facts

We live in a technological age, which means we all have more gadgets and gizmos than we really need, but what happens when something gets stolen, or a disaster occurs and your house is partially demolished? Without a home inventory, you’re not going to get reimbursed for everything that is missing or damaged. But how do you create a home inventory? Here are some tips:

  1. Begin by going through your home room by room. Start at the top of the house and work down, or start at the front and work to the back, and don’t forget the attic, barn, cellar, closets, garage, shed and any crawl-spaces where you store seasonal items.
  2. Make a list of each item, opening drawers, cabinets, and boxes. Include on your liist antiques, appliances, art, cameras (digital, SLR, and video), carpets, computers (desktops and laptops), clocks, clothing, drapes, DVD players, furniture, jewelry, kitchen contents, lawn equipment, linens, mioorrors, musical instruments, sports equipment, tools, and any other property.
    instruments, mirrors,, tools, sports equipment and any other property.
  3. Be as descriptive as possible. Include colors, patterns, sizes, condition, etc.
  4. For each item, record the following information:
    • Quantity and description.
    • Brand or manufacturer
    • Serial or model number (or both)
    • Date of purchase or age of item
    • Receipt, or other proof of value
    • Source – where and how did you get it?
    • Current value
    • Replacement cost
    • Appraisal cost
  5. Take pictures: Especially if the items are unique or difficult to describe, take pictures, and tag each picture with the information about the item that you recorded above. If you shoot video instead of still photos, include a verbal commentary. Time- and date-stamp your photos or video.
  6. Make copies: Copies of the photos, information, list, and supporting documentation should be kept in your house, at a secure off-site location, and, if you choose, filed with your homeowners insurance company for safekeeping.

And what do you DO with this inventory once you’ve created it? Update it regularly. And hope you’ll never actually need it.

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Flu Shot FAQ

November 2nd, 2010 by Iris | Comments Off | Filed in advice and how-tos, health insurance, insurance facts

It’s November, which means red cups at Starbucks, holiday decorations everywhere, and lots of people coming down with the flu. The first two things can be avoided if they don’t suit you, but the flu is pretty much a given…or is it? Newer, better flu shots are available. If you’re considering one, here’s what you need to know:

How Much do Flu Shots Cost?

  • If you have insurance, check to see if shots are covered, if they are (Blue Cross Blue Shield and CIGNA are among those providers who cover them), they’re usually part of your wellness or preventive care benefits.
  • If insurance covers your flu shot, you may be able to skip the usual co-pay by going to a local pharmacy. If you go to your regular physician, the usual co-pay will apply.
  • No insurance? No problem! The typical price range for the flu shot is between $5 and $30, but varies by location.
  • Drugstores often offer discounts of $5 (or more) for flu shots.
  • Some employers provide free or discounted flu shots to their employees.

What Comes With the Flu Shot?
Flu shots are usually injected into your upper arm. They contain inactive virus for the three strains of influenza expected to be most common in the year the shot is given. The U.S. Centers for Disease Control and Prevention publish a FAQ about flu shots.

If you’re over the age of 65, have a chronic illness (including both types of diabetes) or any kind of immunosuppression, you may want to consider a pneumonia vaccination as well. These are covered by health insurance if you fall into any high-risk category, and otherwise range in price from $10 to $40. Anecdotal evidence points to the pneumonia vaccine as also helping people avoid bronchitis, but this is not proven data.

Flu Shot Shopping Tips

  • You can get a flu shot from your doctor or local health clinic, as well as from many drugstores, supermarket pharmacies, and even some community organizations.
  • Don’t like needles? If you’re healthy, not pregnant, and between the ages of five and 49, there is a nasal flu vaccination.
  • While vaccinations are available to anyone who wants to reduce the likelihood of getting the flu, those people who are at risk for flu-related complications, and anyone who cares for or lives with them are strongly recommended to get the flu shot.
  • If you are allergic to eggs, have had an allergic reaction to a flu shot in the past, are ill, or have a history of Guillain-Barre syndrome, consult your doctor before getting your flu shot.
  • Side effects of the shot may include soreness or redness at the injection site, a low-grade fever, aches and pains, and (rarely) allergic reactions.

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Life Insurance after a Heart Attack? You Bet!

October 26th, 2010 by Iris | Comments Off | Filed in advice and how-tos, life insurance

There’s no surprise that having “heart attack” listed in your medical history is a giant red flag when it comes to applying for life insurance, but even so, you are not automatically deemed “uninsurable” nor will your premiums always be astronomical. Depending on the treatment protocols you have used, the severity of your condition, and your age, you may still be able to get life insurance coverage at reasonable rates.

In the words of Christopher Graham, vice president and chief underwriter for Hartford Life, “We are able to offer an insurance policy to the vast majority of people with a history of heart disease.”

Dr. Robert Gleeson, a medical underwriter and vice president at Northwestern Mutual Life Insurance Company emphasizes the same thing. “We spend our lives underwriting diseases,” he says, “And, as an industry, we’ve had a lot of experience with coronary disease.”
While your heart attack will likely disqualify you from getting the very best life insurance rates, you may be able to qualify for the second-best tier (“standard” as opposed to “‘preferred”).

Here are three tips to help you get lowest possible life insurance premiums after a heart attack:

  • Document Everything. When you do apply for insurance, be sure to provide documentation for everything you’ve been doing. It’s not enough for YOU to know. The insurer must know. Be specific: it will reassure the underwriters buy into your case. Dr. Gleeson explains why: “If someone tells me that they have high blood pressure but doesn’t give me any more information, I don’t feel very good about issuing a policy without getting more information.”
  • Stay in Treatment: While you’re waiting, you need to be proactive about improving your health. Work with your doctors to change your diet, increase your exercise and take the proper medications to keep your blood pressure stable.
  • Wait a While. You may be able to save money if you wait a year or two after having a heart attack before you buy life insurance, because the longer you can demonstrate that you are taking care of yourself – good cardiogram readings, for example, and low cholesterol, the less of a risk you will seem to be.

Remember that underwriting guidelines vary between insurers and that these guidelines are updated and revised as medical knowledge is expanded and different treatments move from “experimental” to “standard.”
Remember also that just because one life insurance company rejects you doesn’t mean another won’t say “yes.” As with all sorts of insurance, it’s best to shop around.

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Discount Health Cards: What You Should Know

October 21st, 2010 by Iris | Comments Off | Filed in advice and how-tos, health care reform, health insurance

If you watch enough afternoon or late-night television, you’ll eventually see ads for discount health cards. While these may seem tempting, especially if you’re waiting for state insurance exchanges to take effect, or you lost your insurance benefits because you lost a job and COBRA benefits have either not yet begun, or already ended, please educate yourself about them.

Here are five key facts about discount health cards:

  1. The Discounts May Be Exaggerated: Not only do these cards often include hidden fees, but the language is often vague. For example: “save up to 60%” means that your discount could be as little as 1, 2, or 3%. And if you see them touting “guaranteed benefits” ask exactly what is being guaranteed, and how the guarantee is being enforced.
  2. Discount Cards Are NOT Actual Health Coverage: These cards are not designed to take the place of actual health insurance. Instead, they’re meant to save you money if you don’t already have coverage. Most of these cards are meant for clinic visits, not emergency room runs, so check to see what services are discounted, and if you have existing health care insurance, don’t cancel it in favor of a card. Ever.
  3. Not Universally Accepted: The clinic where you purchase your discount health card will most likely honor it indefinitely, as will the doctors who belong to their network, but cards purchased anywhere else may come with restrictions on where you may seek care, or may not be honored at all. Read the fine print before you commit to anything.
  4. There Will Still Be Bills: Discount health cards generally give you a flat fee for “sick” visits – like if you need to be treated for a sinus infection – and a 20% discount on all other services for a low monthly fee ($18-$25 in many cases). However, you’ll still be responsible for lab tests, x-rays, scans, and (unless you also belong to a discount prescription plan) any medications you’re being prescribed.
  5. Ripe for Identity Theft: The Coalition Against Insurance Fraud has caught at least one discount health card company using the credit card numbers and checking account information provided by consumers to bill unauthorized charges even when the prospective customers had NOT purchased the actual cards. Only buy from a company you trust, and check them out with the Better Business Bureau before you spend a cent. Also, be certain that they have a privacy policy in place, and a way to make sure it gets enforced.

Not all discount health cards are bad or dangerous, but as with any purchase, your mileage may vary. Be a savvy shopper – your health depends on it.

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