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Insurance Information Institute Warns Drivers about Earthquakes and Auto Insurance

Posted in Home Insurance

January 21st, 2010
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The severe earthquake that hit Haiti a little over a week ago reminded the Insurance Information Institute (I.I.I.) of the vulnerability of many drivers and homeowners who are more underinsured than they think.

According to the institute, having standard auto or homeowners insurance may not be enough if an earthquake hits, they may also need some form of earthquake coverage.

What Will Happen to the Health Care Bill?

Posted in Health Insurance

January 21st, 2010
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After months of fighting over the health care bill and finally getting to a place where it seemed that enough Congress members liked it, its fate is once again questioned after Republican Scott Brown won Ted Kennedy’s Senate seat on Tuesday night.

Originally owning 60 seats in the Senate, now Democrats have 59 seats, which is one short of the number needed to overcome a Republican filibuster, which Republicans promised will occur.

The Basics of Home Mortgage Insurance

Posted in Home Insurance

January 20th, 2010
3 Comments

Buying a new home is a big deal for anyone, but perhaps even more so for people on a very tight budget. People who can’t come up with the minimum 20% of the loan as their down payment, for example, are required to get home mortgage insurance. Not to be confused with home insurance, home mortgage insurance protects lenders in case a borrower defaults on his or her payments. It is not required for people putting down 20% or more of the total loan value as their down payment.

More Drivers Buying Hybrid Vehicles

Posted in Auto Insurance

January 20th, 2010
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A recent survey from Ernst & Young shows that 1 in 10 U.S. drivers would consider purchasing hybrid vehicles, a benefit that could result in lower auto insurance premiums. According to the company’s Global Automotive Center on Thursday, Jan. 14, approximately 20 million Americans feel that going “green” may be the way for them.

How Winter Damage Can Hurt Your Property

Posted in Home Insurance

January 19th, 2010
1 Comment

Snow can be beautiful, but when it covers every inch of your home and property, it can potentially cause much damage. Winterizing (or winter-proofing) your home is an important step to take prior to the first snowfall of the season. Additionally, by taking the proper precautions to winter-proof your home and minimize any chance of winter damage, you can save money on your homeowner’s insurance premiums due to a number of factors.

1 in 7 Drivers May Be Without Auto Insurance Nationwide

Posted in Auto Insurance

January 19th, 2010
2 Comments

A new study shows that 1 in 7 drivers (or 14 percent)may be without auto insurance across the country. Conducted by the Insurance Council, this number is expected to get worse through the year.

Accumulation of Data

The council, whichtrackeddrivers from the period of 2005 to 2007, was able to estimate the uninsured population by using a ratio of insurance claims made by individuals who were injured by uninsured drivers to the claims that were made by those who were injured by insured drivers.

Insurance Companies Likely On the Hook for Financial Responsibility Tax

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January 19th, 2010
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On Thursday, Jan. 14, President Barack Obama unveiled his plan to have financial institutions pay taxes as a way to pay back bailout funds received in 2008. Known as the Financial Responsibility Tax, many banks, and possibly some insurance companies that did not receive financial bailouts may be responsible for paying it.

Are Water Pipes Covered by Your Home Insurance?

Posted in Home Insurance

January 18th, 2010
1 Comment

Winter has descended on America once again, plunging much of the nation into bitter cold. Freezing temperatures are not at all uncommon – in some places it may even seem like they’re the norm – and along with them comes all kinds of problems for home owners. One of the most common complications of cold weather is bursting, broken water pipes, and home owners need to be absolutely certain that their home insurance covers the resulting damages.

24 Charged with Trying to Lower Auto Insurance Rates via Interstate Scam

Posted in Auto Insurance

January 18th, 2010
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Twenty-four individuals looking to lower their auto insurance premiums were caught in an interstate scam that involved them registering for certificates of title for their vehicles and identifying themselves as Pennsylvania drivers. The drivers who mostly resided in New York and New Jersey were facing charges felonies, including one count of auto insurance fraud and one count of false application.

Fireproofing Your Home

Posted in Home Insurance

January 15th, 2010
1 Comment

Fire can have devastating effects on all it touches and this element is a leading cause for accidental deaths in the nation. Taking fires seriously and making all attempts to fireproof your home is the only logical decision, and being proactive in fire prevention certainly helps.