Did You Know? Insurance Answers for Everyone

Obamacare Myths and Truths #6

8/30/2013

 
When does the law go fully into effect?

  • 2014
  • 2015
  • 2017

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Obamacare Myths and Truths #5

8/29/2013

 
Health care reform replaces private insurance with government plans.

True or False

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Obamacare Myths and Truths #4

8/27/2013

 
If you're pregnant, health reform will make:

  • Insurance cost more
  • It illegal to deny you coverage
  • Neither

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Obamacare Myths and Truths #3

8/26/2013

 
Under health care reform, women will pay more than men.

True or False

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Obamacare Myths and Truths #2

8/23/2013

 
Who can use the new health insurance Marketplaces?

  • Insurance Agents
  • Employers
  • Any U.S. Citizen

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Obamacare Myths and Truths #1

8/22/2013

 
Once health care reform takes full effect, you have to change your insurance plan.

True or False

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Insurance Fraud

8/20/2013

 

  • Property/casualty insurance fraud amounts to about $32 billion a year, according to industry estimates.
  • Questionable insurance claims rose by 16 percent from 100,201 in 2011 to 116,171 in 2012, according to the National Insurance Crime Bureau (NICB).
  • The NICB estimates that Hurricane Sandy generated about 250,500 claims for damaged vehicles, mostly damaged by flooding, with New York leading the way with 150,000 claims, followed by New Jersey (60,000 claims) and Connecticut (8,000).
  • The insurance industry is working hard to keep flood damaged vehicles off the road. This effort includes including VINCheck, a free service set up by the NICB to help consumers spot flooded vehicles that may be reconditioned and fraudulently put up for sale as undamaged following a flood disaster such as Hurricane Sandy.

How much you use your car is a factor that determines the Price of Your Auto Insurance Policy

8/16/2013

 
The more miles you drive, the more chance for accidents. If you drive your car for work, or drive it a long distance to work, you will pay more. If you drive only occasionally—what some companies call “pleasure use”, you will pay less.

Contact our office for a no-obligation review of all of your insurance needs.

Renters Insurance

8/15/2013

 
If you rent a house or apartment, your landlord’s insurance will only cover the costs of repairing the building if there is a fire or other disaster. You need your own coverage, known as renters or tenants insurance in order to financially protect yourself and your belongings.

Renters insurance includes three important types of financial protection:

§  Coverage for Personal Possessions

§  Liability Protection

§  Additional Living Expenses 

Consider the following to help you choose the right coverage when you are shopping around for renters insurance.

Feel free to contact our office for a no-obligation review of all your insurance needs.

1.    Should I get replacement cost or actual cash value coverage?
An actual cash value policy pays to replace your possessions minus a deduction for depreciation whereas a replacement cost policy will pay the cost of replacing your possessions without accounting for depreciation. The price of replacement cost coverage is about 10 percent more but can be well worth the extra expense as the value of most items tends to depreciate quickly.

Where your car is parked and where you live is a factor that determines the Price of Your Auto Insurance Policy

8/14/2013

 
Where you live and where the car is parked can affect the cost of your insurance. Generally, due to higher rates of vandalism, theft and accidents, urban drivers pay a higher auto insurance price than those in small towns or rural areas. 

Other factors that vary from one area or state to another are: cost and frequency of litigation; medical care and car repair costs; prevalence of auto insurance fraud; and weather trends.

Contact our office for a no-obligation review of all of your insurance needs.

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