It is often a common misconception among many people that auto insurance is a cut throat business. Many folk get unduly worried and try to avoid insuring their car in every possible way till they finally end up with huge losses on it. If you spend some time researching on the best deals, you will be quite surprised to know getting your car insured is quite simple. Just understand what your insurance needs are at first. Then look for those that will be suitable to your needs. Without understanding what kind of insurance you need, it is not really possible to find it. There are also many particulars which are add-ons and can be done without.
The simpler way to get good automobile insurance quotes
posted by Michael Simonds on May 16th, 2011 under Insurance Topics
Taylor and Department of Insurance to Stop Agents from Using Misleading Practices
posted by Michael Simonds on May 16th, 2011 under Insurance Topics
— Ohio Lieutenant Governor and Director of the Department of Insurance Mary Taylor announced that the Insurance Department is intent on putting an end to misleading practices by insurance agents and brokers with regard to the sale of annuities.
The Department of Insurance amended the administrative code to incorporate standards that ensure the insurance needs and financial objectives of consumers are appropriately addressed at the time a transaction takes place.
Annuities are a contract with an insurance company where the consumer pays for the annuity in a single payment or multiple payments and the insurer promises to pay out money from the annuity to the consumer in a series of payments.
As a result of the amended language, insurers will be required to provide product specific training to their agents and establish a system to supervise recommendations made in the marketing and sale of annuities by July 1, 2011.
In addition, insurers and insurance producers, prior to recommending a particular annuity to a consumer, will be required to make a “reasonable effort” to obtain specific suitability information from a consumer. Such Read more…
Do You Know Your Passport Requirements?
posted by Nate Gutteridge on May 15th, 2011 under Insurance Stories
Frequent travelers will no doubt be aware of the requirements for U.S. citizens regarding passports when travelling abroad. For those that are travelling for the first time, read on. Along with having the correct travel insurance, visitors to countries outside the U.S also need to comply with passport requirements. While you are still permitted to travel without travel insurance, it should also be considered an essential.
A passport is your best form of documentation for travel to other countries and to enter the United States. Your passport is an internationally recognized document that is only issued by the U.S. Department of State and the U.S. Embassies and Consulates.
25 money mistakes that cost you dear
posted by Nate Legg on May 12th, 2011 under Insurance Stories
Most of us will admit to making the odd money mistake now and again, but make too many of them and the chances are you’ll end up seriously out of pocket. Here, we highlight 25 common money mistakes – and what they could end up costing you.
Going overdrawn without agreeing it with your bank first
Unauthorised overdraft charges can be sky-high, so don’t go into the red unless you have an agreed overdraft in place. According to research by moneysupermarket.com, going £500 overdrawn for 5 days without permission will cost £24.31 on average, so if you were to do this four times a year, costs could quickly mount up to nearly £100.
Exceeding your credit card limit
Always keep a regular eye on how much you owe on your credit card so that you avoid going over your limit. Re
Health Care Reform Law Arguments Get First Hearing in Appellate Court
posted by Michael Simonds on May 10th, 2011 under Insurance Topics
Constitutionality of Health Reform in Question
According to USA Today, the 4th U.S. Circuit Court of Appeals will be looking at the provision in the health care reform law that requires people to purchase health insurance or pay a tax penalty.
Many states have already filed suit against the law in lower courts to dispute the provision, stating that Congress has no power under the commerce clause to require people to purchase insurance. In Florida, a federal judge ruled that the provision was unconstitutional, prompting a separate appeal that will be heard in Atlanta.
Two Cases to Be Heard in Virginia
In total, 31 suits have been filed challenging the reform law. In the
Understanding reasons of high insurance premiums
posted by Michael Simonds on May 10th, 2011 under Insurance Topics
Auto insurance is mandatory, so understanding how the premium rates are charged becomes important in trying to reduce the monthly premium rates. Insurance companies may say that the minimum the policy, lesser the premium, but buying minimum insurance just to save in premiums is not recommended.
There are different reasons why a monthly premium can be high. Some of them are listed below:
- Car efficiency and make: Every insurance company has standards against which they compare every car that is being insured. If the car does not match the standards, a higher amount of premium is charged. Model and make of the car matters too, since some models have higher incidences of accidents on roads.
Featured : Britain’s banks prepare for huge client compensation
posted by Nate Gutteridge on May 9th, 2011 under Insurance Stories
Britain’s banks are allocating billions of pounds to compensate clients who were mis-sold credit insurance, in a fresh blow to a sector seeking to gain public trust after the financial crisis.
House Bans State Access to Health Exchange Grant Money
posted by Michael Simonds on May 8th, 2011 under Insurance Topics
Republicans Oppose Funding for Health Exchanges
When Obama signed the health care reform bill into law in March 2010, one of the changes that occurred in the world of health insurance was the creation of the health exchange, which would be a place where individuals could go to compare various policy options and select the one that was best for them.
The exchanges were created to lower insurance costs for those who dont have coverage available to them via an employer or are self-employed by offering them access to rates found in group coverage that companies already have available to them.
Lawmakers in favor of the exchanges hoped they could help Americans meet the requirement of mandatory coverage by making insurance affordable. H