


Posted in Auto Insurance , Farmers Insurance , Health Insurance , Medicaid , Save on Auto Insurance
August 11th, 2010
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If Congress fails to cover Medicaid costs this fiscal year, states could face a massive budget hole they will be forced to fill on their own. In other news, employers plan to toughen their health insurance guidelines to require employees to prove the kinship of their adult children and an auto insurance company has agreed to a rate cut that could benefit policyholders.
States have already been forced to fill an $84 billion gap in order to balance their 2011 fiscal year budgets, but it appears that they may have to come up with even more money if Congress is unable to cover the growing costs associated with Medicaid soon. Specifically, states nationwide could face a $12 billion hole that they will be required to fill, with California, Texas, North Carolina and New York each facing upwards of $1 billion on their own.
Congress lawmakers have stalled with any passage of Medicaid assistance due to fears of a national deficit increase. Unfortunately, states may have to bear the brunt of these fears for another year (CNN Money).
Now that health care reform is requiring plans to cover dependents until the age of 26, many employers are expecting to pay an increase of up to 9 percent to cover the costs. These costs will trickle down to employees, resulting in an increase in premiums on health insurance.
However, premiums will also be raised in order to weed out ineligible dependents, something companies are expected to formally announce soon as they begin to require proof that your dependents are actually yours. Whether through marriage certificates, birth or adoption certificates or proof of legal guardianship, you will have to do more work to prove a dependent is legit in the near future (CNN Money).
Some lucky California Farmers Insurance customers will receive a 10-percent break on their auto insurance as a part of an agreement reached by the California Department of Insurance and the insurance giant. The rebate will only be offered to customers with policies that renew between July 15 and Jan. 15 and it is only offered one time.
For most, the rebate will average about $50 per policy; however, if you’re planning on spending your money anytime soon, you’d better make other plans since it won’t be mailed to customers until February 2011 (Sacramento Business Journal).
Posted in Farmers Insurance
December 2nd, 2009
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The Oregon Insurance Division fined Farmers Insurance Co. of Oregon $10,000 for raising a number of their policyholders’ car insurance rates using their credit score as a basis. Farmers Insurance was using consumer credit history to re-rate what they would pay for both auto and home insurance premiums in renewal and re-rate cases.
Oregon state laws allow insurance companies to use credit scores to determine rates, but it does not allow the practice during a renewal period. But what will occur if all insurance providers start adapting the process. State governments would have no choice but to allow the rate adjustments, which can cost you big if you’re already paying higher rates on mortgages and auto loans due to poor credit history.
To check your credit score for free, visit with our partner Go Free Credit for a free online credit report.
Posted in Auto Insurance , Auto Insurance Claims , Compare Auto Insurance , Farmers Insurance , Progressive
April 17th, 2009
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Devoted animal lovers consider pets as part of the family, and often refer to them as their children. They want to do everything they can to cover their pets in case of an auto accident, and will seek out insurance coverage for them as well. Auto insurance providers are well aware of this trend and many now automatically provide insurance coverage to your pets as part of your auto policy.
Many car insurance companies will now cover vet bills associated with car accidents, but of course there are some limitations to be aware of:
Progressive Insurance was the first major auto insurance provider to include pet coverage as part of their standard collision coverage. The pet coverage comes at no additional cost to the policy holder. Progressive pioneered pet coverage in November of 2007 and has garnered some media attention for the unprecedented action in coverage. Progressive caps their pet maximums at $500 per animal.
Other insurance companies are following suit to tap into the devotion animal lovers have to their pets. Farmer’s Insurance Group added automatic pet coverage to their collision policies in August of 2008. Farmer’scoverage is capped at $600 per pet for treatment, or financial coverage if the pet dies in an accident.
When choosing auto insurance, many people may not even consider the coverage of their pet in selecting a policy. But animal lovers will rejoice that this option now exists and is gaining popularity across the nation.

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