How Insurance Companies Protect Themselves
False claims and a high risk to premiums ratio are the two main categories of insurance fraud. For just auto insurance alone, this fraud costs between $5 and $7 billion a year in inflated claims. Insurance companies have different ways to detect insurance scams, with many companies having a fraud detection department. The job of [...]
Bill Passed For Earthquake Insurance
Last August, there was an earthquake in Louisa County Virginia with a 5.8 magnitude that caused millions of dollars worth of damage. It was not until after this earthquake that many people found out that their insurance policies did not cover earthquake damage. As a result, Senator Bryce Reeves filed a bill that requires insurance [...]
New Flood Maps May Affect Flood Insurance
Flood insurance may not come across many of our minds but for some, it is very important. It is actually required for homeowners who have a federally backed mortgage and are in a 100-year-flood plain zone to have flood insurance. The Federal Emergency Management Agency has spent over a decade redrawing flood-plain maps and they [...]
Some Dog Breeds May Pose Problems for Home Insurance
Dogs are known to be “man’s best friend” but home insurance companies may not agree. Insurers may have a “danger list” that consists of certain dog breeds that may pose a risk to people. Although most dogs fall into the “no problem” category which consists of all breeds and sizes, others may be considered “borderline” [...]
Survey Says?
If you live in California, New York, or Washington, you may be responsible for filling out a form that has been developed by the National Association of Insurance Commissioners. The survey would ask questions about ways they would react under harsh weather conditions. This survey, first surfacing in March 2009, was voluntary. Insurers only had to [...]
Make Sure Your Home is Safe This Winter
The days are getting colder which is why it is important to protect your home from the weather. Aside from frozen pipes, another winter risk is ice dams. They occur when heavy snow buildup melts during the day then refreezes as temperatures drop overnight. If this occurs for a few days, the melted water and [...]
Why Renters’ Insurance is Important
When it comes to insurance, it is better to be financially safe and knowledgeable from the start rather than being sorry when it is too late. Some may wonder why they need renters’ insurance if someone else owns their home. Although the landlord is responsible for the building, they are not responsible for your belongings. [...]
Steps to Safety
”One in five teenage drivers is involved in a crash in their first year of driving. Safety’s priority remains keeping our roads safe for all drivers and we aspire to make the transition for parents of young drivers easier. Said by Vice President of Marketing for Safety Insurance, George Murphy explains the useful guide for [...]
Breathaleyes-An App to Keep you Safe?
With technology advancing more and more with each day that passes, should we be surprised that a cell phone may keep you off the road after you’ve been drinking? Clay Bradley, the inventor of the BreathalEyes iPhone app, created this useful tool as a way to “help determine whether they’ve had too much to drink [...]
Scaring Into Quitting- The Best Way to Support Smokers?
…”smoking is still the No. 1 cause of preventable death in this country. Nearly half a million people die prematurely because of smoking-related illnesses, including lung cancer, heart disease and chronic obstructive pulmonary disease, according to the Centers for Disease Control and Prevention.” Regardless of these scary facts, smokers still continue with this habit. Smokers [...]
