Home insurance is one of the types of property insurance where what are covered are private homes. Getting your house insured is not an easy task. One should consider several things before signing that insurance policy. Below are some of the homeowners insurance basics to consider when getting insurance for home owners:

1. Insurance policy for home owner. It is the contract of the home owners that includes the term and coverage of the insurance. Insurance policy is the proof that your home is covered by insurance. This is signed by the insurer and received by the insured.

2. Insurance coverage for home owner. This refers to the insurance coverage that you have purchased for your home. It may be insurance on your dwelling house, personal properties inside the house and other structure related to your house. It varies according to the agreement of both parties. The usual homeowners coverage includes losses in one’s home, its contents and its use. It may also include losses in other personal possession of the house owner. Some home insurance policies cover even the liability for accidents that may happen at home.

3. Insurable interest. This refers to the interest to the home that is required by law before one can insure a property.

4. Exclusion of homeowners insurance coverage. Although one is free to agree on the coverage of the insurance it is one of the home insurance basics to include exclusions. They may be liabilities brought about by a war, power failure, earth movement, water damage, nuclear hazard, negligence, intentional loss and other events that may be agreed by the insurer and the assured.

Source by Alexei

Six years after establishing a foothold in China, health insurer Cigna will begin offering its first comprehensive health care product in that country as the company seeks to expand its international business amid a backdrop of uncertainty in the U.S. market.

The full health care plan will be offered through Cigna & CMC Life Insurance Company Limited, a joint venture between Cigna and its Asian partner, China Merchants Group.

The Philadelphia-based insurer with major operations in Bloomfield will initially target Chinese employers seeking coverage for members of their work force, including expatriates working in other countries, foreign employees working in China, employees returning to China from assignment in other countries, and senior managers.

“The launch of the health care product is the next phase in the evolution of the strong partnership between Cigna and China Merchants Group,” said David M. Cordani, president and chief operating officer of Cigna and the company’s incoming chief executive officer.

With declining enrollments and increasing medical costs in the U.S., and uncertainties surrounding health care reform on Capitol Hill, health insurance companies like Cigna are looking to international markets for future growth opportunities.

If Congress passes legislation that adopts a public option to compete with private insurers, it’s likely to increase the pursuit of new business beyond United States’ borders by domestic health insurers.

China in particular has been on the radar screen of U.S. health insurers in recent years because of its growing middle class and its initiatives to promote universal health care. In 2008, for example, Aetna opened an office in Shanghai. In January, the Hartford health insurer created a fully owned health benefits service company in the same city.

Going Global

At the company’s annual investor conference last week, Cordani said Cigna sees itself as an international company, rather than just a United States insurer. Offering a full health insurance plan in the People’s Republic in China furthers Cigna’s global initiative, he said.

Cigna officials say that they have offices in 27 countries and a global network of more than 600,000 physicians, medical professionals and hospitals in every country.

“International has been the fastest growing division for a few years and became more relevant even before health care reform initiatives started in the U.S.,” said Mike Ross, chief marketing officer of Cigna International.

Cigna’s international division includes supplemental insurance products to individuals, coverage for expatriate employees of multinational companies, and health care and medical care management services to workplace markets.

Ross said Cigna is looking for international growth in four main countries, including China, Brazil, India and Russia.

Economists at Goldman Sachs have previously predicted those four countries could have the largest economies by 2050.

In India, Cigna is actively searching for a company to partner with so it can begin to develop products for that region as well.

“In the future, those are the four countries that will matter the most,” Ross said. “They all have big economies, which will create huge opportunities.”

Besides looking at new markets, Ross said the company will also go deeper into places that they are already in. Their latest expansion into China represents one of those cases.

Cigna originally entered China in 2003 when it started a joint venture with an affiliate of the China Merchant Group to sell life, personal accident and hospital indemnity insurance.

Regulatory Restraint

Ross said that in order for a foreign insurer to enter the Chinese market, they must partner with a local company in which they get no more than a 50 percent stake in the joint venture.

The process for insurers to expand in China can be lengthy, however, as they have to get a new license for each city they enter. They also have to deal with a strict regulatory environment, including waiting two years after they establish a presence before they can actually start offering policies.

Since 2003, Cigna’s presence in China has grown from 40 employees to 2,400 workers operating in 10 offices, and about 630,000 policies in force, Ross said.

The company sees further growth opportunities in Asia because of the region’s rapidly growing middle class, as well as an effort by the Chinese government to expand health care coverage.

Earlier this year, for example, China unveiled a three-year, $124 million plan on health care reform that aims for universal access to basic health insurance and improved primary health care facilities.

China does already provide government-sponsored health insurance on a province-by-province basis, which covers the majority of its citizens.

But Ross said employers look to the private insurance market to purchase more expansive coverage for their workers, especially since the state-run plan only allows citizens to use state-run hospitals, which are oftentimes overcrowded and “tough.”

Private insurance allows Chinese citizens to use private clinics, or roomier, more comfortable “VIP wards” within the state-run hospitals, Ross said.

The expatriate market that Cigna will initially concentrate on is expansive, and there is little in the way of competition, Ross said.

He estimates that there are 600,000 locally hired foreigners in China, as well as 500,000 people who work for Chinese companies but are actually located in other parts of the world.

Source by Health Insurance

Some of the most important and successful companies are those who are in the courier business. A courier business makes sure they get all of your important business documents and paperwork to where it needs to go, when it needs to be there. But, recently aircrafts and humans have been the replacement for animals and birds such as pigeons that were used in the past to deliver messages of great importance. Now-a-days, the most prestigious courier businesses have aircrafts of their own to get all of the messages and documents where they need to be within one to two days.

There are quite a few different types of couriers, such as same day couriers and representative couriers who will pick up and deliver a package to its destination all in one day. There is no doubting the importance of companies such as these to businesses all over the UK. Other than courier service via the roadway, there are several other types of courier services like international courier businesses, air couriers as well as shipping services.

Different courier businesses offer different types of services, as well as having different terms and conditions. The contract terms are agreed on between the courier business and the customer.

Other than the usual customised services, there are many other services offered as well. One of the services offered is inner office delivery, where the courier picks up the package to deliver a package from office to office. Another service that is offered is set runs, which operate one point to another.

Courier insurance is a lot like motor vehicle insurance; it is specifically designed for couriers when they are in transit to protect them from accidents. Because the courier always transports goods that belong to other people, courier insurance is needed to cover any damage or loss that may take place. With the exception of a few stipulations noted on the courier service invoice, courier insurance can be purchased for any vehicle and is not restricted to a specific type of vehicle.

Because couriers are responsible for third parties, a lot of insurance providers will not offer courier insurance. Others may offer the service at a very high premium cost. There are several benefits to having courier insurance, such as if you lease a vehicle.

There are some discounts available for courier insurance, especially if the courier service maintains a good reputation with the insurance provider. These discounts on courier insurance are beneficial with the cost of vehicle insurance getting higher and higher each year.

Another benefit you may not be aware of with courier insurance it the fact that it can assist you with payments if so stated in the terms and conditions of your courier insurance contract.

Courier insurance is one of the most important things you will need when you make the decision to start you own courier business. Be sure to have your insurance agent go over all of the items in your policy contract to ensure that you understand all of the important terms.

Source by Rakesh Gaikwad

PricewaterhouseCoopers and Medco Health Solutions released two new views of cost trends in health care during the past week, building on the release of the Milliman Medical Index.   PwC Health Research Institute’s “Behind the numbers: Medical cost trends for 2012,” examines the medical cost trends for employers in 2012.  This new report found “Medical cost trend is expected to increase from 8 percent in 2011 to 8.5 percent in 2012.”  And two main drivers identified by PwC are provider consolidation and cost-shifting to the private sector.

Providing a view of prescription drug utilization and pricing trends, Medco’s Annual Drug Trend Report showed this week that while the overall growth of prescription drug prices is at an historic low (as a result of increased use of generic drugs), the cost of specialty treatments is still increasing at an alarming rate.  According to Medco’s report “Specialty drug trend was 17.4 percent in 2010, fueled by unit cost growth of 11.5 percent.”

Federal

There is no Federal report for this week.

States

ARIZONA: The Department of Insurance (DOI) held a public hearing on rate review as part of its Health and Human Services (HHS) grant activities. The DOI has retained Mercer Consulting to assist in performing a gap analysis to identify areas that need to be addressed in order to comply with the requirements of the Affordable Care Act (ACA). During the hearing, it was noted that the state’s current statutory scheme does not authorize the DOI to review a health insurer’s medical loss ratio, potentially not allowing the state to meet the HHS requirement of having “an effective rate review process.”

The Director of Insurance and the Governor’s office also hosted their first workgroup on the implementation of an exchange. Despite the legislature’s refusal to pass an exchange bill, there is concern at the executive level about a lack of preparedness in the event the ACA is not repealed or found unconstitutional. This week’s topic was the qualified health plan certification, and participants focused on not adding requirements beyond the ACA minimum benefit requirements.

CALIFORNIA: The Appropriations committees of both houses are wading through many bills that would have varying impacts on state finances.  Bills meeting certain dollar thresholds are sent to “suspense” filing for consideration at later hearings.  Most of the legislation that Aetna and other allies have opposed has been sent to the “suspense” filing, including a bill on rate regulation and all bills on benefit mandates, because of the fiscal impact of each bill and potential conflicts with federal guidance on essential benefits. These bills may be revived at a later date, or they may be held by the committees.  We expect the majority of the bills to be voted off the suspense file by the end of the month, including.

Rate regulation – According to Appropriations, there would be an annual fee-supported special fund cost of at least $30 million to DMHC and CDI.
Rate regulation – According to Appropriations, there would be an annual fee-supported special fund cost of at least $30 million to DMHC and CDI.
Autism mandate – According to the committee analysis, this bill would result in annual costs to the following state entities:
CalPERS: $9 million
Medi-Cal, for enrollees in managed care plans: $114 million
MRMIB plans (Healthy Families, AIM, MRMIP): $37 million

In state budget news, the governor will release his May revision to the state budget next week, taking into account new revenue figures that show the state taking in more than $2 billion in unanticipated new tax dollars. The governor still believes that asking voters to extend the higher tax rates set to expire this summer is the right thing to do because the higher revenue forecasts would not close the entire budget shortfall.  Republicans, however, have been quick to argue that higher revenue forecasts mean that extending tax rates is not needed at this time.

CONNECTICUT: The legislative session adjourns June 8, but the legislature has yet to reach a conclusion on several major issues, including an exchange bill, a rate review bill and the SustiNet bill.  Although the SustiNet compromise bill language is not public, the Administration and press reports have said that the bill does not include a public option but would create an advisory board on health reform implementation and examination of future state reforms. In addition, an anti-most favored nation clause bill has passed the House and now goes to the Senate for its consideration. Aetna supported the bill with amendments. The bill is expected to pass. Additionally, the recently released HHS rate review rule may push legislators to advocate for adoption of the federal 10 percent trigger for rate review in Connecticut, just in case the federal law is repealed.

DELAWARE: The Department of Insurance (DOI) submitted a medical loss ratio (MLR) waiver application to HHS for its individual health insurance market. The DOI-requested adjustment proposes a three-year phase-in of the MLR as follows: 65 percent for 2011, 70 percent for 2012, and 75 percent for 2013.

GEORGIA:  Governor Deal has signed legislation that applies state prompt-pay standards to self-funded plans.  Aetna will be working with self-funded customers who have questions about the validity of the new law and its application to their plans, which are generally covered by ERISA.

INDIANA: Insurance Commissioner Stephen Robertson submitted an MLR waiver request to HHS seeking relief from the MLR regulation for the individual market and for consumer-directed health plans in both the individual and small group markets.  Specifically, for the individual market, Indiana is requesting that the MLR be waived for the individual market through 2014, or, as an alternative, that it be phased in as follows: 65 percent in 2011, 68.75 percent in 2012, 72.5 percent in 2013, 76.25 percent in 2014, and 80 percent in 2015, with an exemption from the MLR requirement until 2014 for new market entrants (defined as those that have not previously sold individual major medical health insurance products in Indiana for the previous 10-year period). For consumer-directed health plans in the individual and small group markets, Indiana is requesting a permanent waiver from the federal MLR requirements.

MAINE: Governor LePage has signed into law an Act to Modify Rating Practices for Individual and Small Group Health Plans. The new law is designed to open up Maine’s individual and small-group insurance market to competition. It also is supposed to:

help lower health insurance premiums by broadening Maine’s community rating system and allowing insurance companies to base their premiums on a more flexible set of criteria.
allow Maine residents to purchase insurance in four New England states beginning in 2014.
set up a reinsurance pool to cover individuals with serious illnesses. The pool would be subsidized by a covered lives assessment capped at $4 per member per month.

The Maine People’s Alliance (a progressive advocacy group), the Maine Democratic Party, and others are looking into the feasibility of initiating a referendum on the new law. In order to get a referendum on the November ballot, opponents would have to file approximately 60,000 signatures with the secretary of state no later than 90 days after the enactment of the bill on May 17, 2011.

MONTANA: Governor Brian Schweitzer has decided to reconsider his amendatory veto of legislation that prohibits the state from enforcing the individual responsibility requirement contained in the ACA.  Noting the critical role that the individual mandate plays in lowering the cost of coverage, the Governor’s amendatory veto argued that the prohibition against enforcing the mandate in Montana should be contingent on whether residents have access to affordable coverage.  However, on May 13, the Governor reversed his position and signed the bill into law, as permitted under Montana’s statutory procedural guidelines.  The provisions of the law include legislative findings stating that the ACA individual coverage requirement will cause unnecessary expense and inconvenience to individuals and employers, and therefore the legislature prohibits any agency of the state from enforcing the provisions of the ACA and subsequent federal regulations that relate to the individual coverage requirement. The law specifies that the prohibition extends to requiring public employees to purchase or maintain coverage and state officials or employees from participating in boards, commissions, or entities of the NAIC that are assigned to recommend provisions that implement the individual mandate.

NEVADA: HHS informed the Nevada Division of Insurance that the state’s application for a transitional waiver from the MLR provisions contained in the ACA has been denied and amended.

In its response letter, HHS admits that application of the ACA MLR standard could in fact lead to destabilization of the state’s individual market but argues that the transitional waiver requested by the state (72 percent) exceeds the amount necessary to prevent destabilization and would ‘deny consumers an excessive amount of benefit.’  For this reason, HHS determined that Nevada should be granted a one-year transitional waiver under which the MLR for the state’s individual market will be 75 percent in 2011.

SB 440, which would create the Silver State Exchange, had its first hearing on March 18 in the Finance Committee, but no action to advance the measure was taken.

NEW JERSEY: Last week the Department of Banking and Insurance (DOBI) announced that Horizon Blue Cross Blue Shield of New Jersey has officially withdrawn its application to convert to a for-profit entity.

In the final round of public budget hearings, the non-partisan Office of Legislative Services (OLS) and State Treasurer, Andrew Sidamon-Eristoff, testified that state revenue is now expected to exceed forecast by $600 to $900 million due to higher income tax collection. This was welcome news as the legislature and the Christie Administration wrestle with various program cuts under the current budget proposal. Leadership in the legislature has called for restoration of property tax rebates and reconsideration of the proposed changes to the Medicaid program.  It has been reported the Administration is seeking to change Medicaid eligibility to 33 percent of the federal poverty level. Democratic legislators have come out en masse opposing this change.

NEW YORK:  James Wrynn will be the deputy superintendent for Insurance under the Department of Financial Services (DFS) after the consolidation of the New York State Insurance Department, of which he is currently superintendent, with the Banking Department. Benjamin Lawsky was nominated to be the superintendent of the DFS. At packed confirmation hearings, Lawsky appeared before the Senate Insurance Committee and then the Senate Banking Committee. Lawsky said he understands that prior approval has become “overly politicized.”  He said he would make addressing this his “number one priority.” He also said he planned to meet with all stakeholders on this issue in the coming months. He was unanimously approved by both Insurance and Banking Committees but must still appear before the Senate Finance Committee for its approval.

The NYS Department of Insurance held public hearings on exchanges that reports say were not well attended. The New York Health Plan Association testified that the success of any health insurance exchange boils down to the affordability of coverage it can offer.  The HPA said the best way to preserve affordability is through an independent authority, which could be created by passing very limited exchange legislation before the end of the legislative session. Such legislation could establish the governance and infrastructure of the exchange and charge it with conducting research to make recommendations regarding the policy issues that need to be addressed by 2014. A key issue to address is how to ensure that the exchange is financially sustainable by 2015, as the law requires.

NORTH CAROLINA: Legislation implementing an Exchange Advisory Board met with some consumer opposition last week.  Opposition centered mostly on the way in which the exchange will be funded.

OKLAHOMA:  In the final week of the legislative session, leadership in both chambers announced the formation of a special joint legislative committee to study how the new federal health care law affects Oklahoma. Senate Pro Tem Brian Bingman and House Speaker Kris Steele ordered the formation of the joint committee and announced that “studying this issue in more depth makes for healthy legislative process. The scope of this law is vast, so we need to make sure we are prepared to address this law in a conservative way that is best for Oklahoma.” The committee will have bipartisan membership. The joint committee will hold a series of public meetings over the legislative interim focusing on how the ACA affects Oklahoma. The committee will also explore how to best approach the law as the state awaits the outcome of its lawsuit challenging the law’s constitutionality. The committee will then make recommendations on how the state should address the federal health care law.

As a result, legislation that would create an Oklahoma health insurance exchange will not be heard this year.

TEXAS: The health care collaboratives that would be set up by pending legislation (Senate Bill 8) authored by Senate Health and Human Services Chair Jane Nelson are intended to promote higher quality of care at lower cost. The collaboratives would allow groups of providers, such as hospitals and doctors, to bargain collectively with the people who pay them. The goal is to give providers more leverage in price negotiations with an eye to cutting overall health care costs. But staff at the Federal Trade Commission (FTC) say giving these collaboratives antitrust protection could have the opposite effect and could harm consumers. Staffers have flagged this key provision of the Lieutenant Governor’s health care agenda for the session, indicating that a tool intended to improve the efficiency and quality of care in Texas might in actuality “lead to dramatically increased costs and decreased access to health care for Texas consumers.” To get around any antitrust issues, SB 8 specifically gives collaboratives exemption from antitrust laws. The bill is in the final stages of passage and could be headed to the House floor at some point in the last 10 days of the legislative session.

Meanwhile, uncertainty hung over the Texas Capitol at the end of last week as budget negotiators worked to bridge the gulf between the House and Senate spending plans and avert a special legislative session. What had been a $5 billion difference Wednesday was narrowed to a few hundred million dollars as the House agreed to the Senate’s proposal on public education. To help pay for the $3 billion added into the budget, the House relies on the $1.2 billion of additional state revenue announced by Comptroller Susan Combs this week. Lt. Gov. David Dewhurst said he was optimistic that a deal was in the offing. Negotiators are taking it down to the wire trying to complete their work by the end of the legislative session on May 30.

WISCONSIN: The Wisconsin Office of Free Market Health Care’s (OFMHC) survey to gather stakeholder input on the design of a potential Wisconsin Health Insurance Exchange closed last week.  Now, the OFMHC will develop its plan for the exchange.  OFMHC has been tasked to design and implement a Wisconsin Health Insurance Exchange that utilizes a free-market, consumer driven approach.

Source by Health Insurance

Health insurance can be considered an investment on your life. It is the thing that you will rely on especially when you suddenly get sick when you are working. But you shouldn’t rely on health insurance provided by the company you are working in since the company usually have conditions that will just irritate you when you finally avail of them. When it comes to medical insurance, always try and get external providers, those who you can trust to provide you with the services you paid for. But how do you choose the right medical insurance for you? Below is a list of standard insurance where you can select the right one for you.

Major medical insurance, or traditional health insurance, allows the client privileges wherein the insurance company will pay for a large percentage of the total bill amount, and the client will pay for only a small portion of the said amount. The client can choose to go to any doctor or hospital and avail of their services, pay the provider directly, and then just get reimbursed a percentage of the amount paid. The client can sign a release requesting the insurance company pay the health provider directly and would then be responsible for paying the doctor or hospital the remaining percentage.

An HMO, or a Health Maintenance Organization, is one kind of health insurance that focuses on the long term care of its client and is normally much less expensive than major medical plan. Every patient has his or her own Primary Care Physician who will be responsible for providing preventive and coordinating care for a patient especially if additional specialists or hospitalization is necessary, keeping the costs down. Also, by limiting choices such as choosing physicians available only to a certain network and not covering services that are deemed unnecessary usually controls costs.

A Preferred Provider Organization, or PPO, is like an HMO as there is a network of available physicians, but the difference with an HMO is that the client is not limited to network physicians and can see any doctor they choose. However, co-payments and deductibles will be less for in-network services. Also, network physicians determine reasonable charges so if an out-of-network physician charges more for their services rendered, the insurance company will still pay a percentage of the in-network charges, and the client will pay higher fees for an out-of-network services. Some people prefer the freedom to choose their own doctors and not be limited to a network despite the sky-high charges.

Point of Service insurance, or POS, is considered to be a combination of a PPO and an HMO, wherein the insured chooses a Primary Physician, and all health care will start with the patient consulting this chosen physician. This doctor will then authorize a referral to a specialist, on or out of the network. If a patient sees a specialist without a referral, the insurance company providing the health insurance may choose not to pay for the services.

These health insurance providers given each have different advantages and disadvantages to them, and these factors will vary depending on who will benefit from it. It is up to you to select which one you will benefit most from.

Source by Benny

Bajaj Allianz General Insurance is one of leading private non life insurance companies in India. It is also known as finest in insurance service providers.

Bajaj Allianz offers wide range of health insurance to individual and families for their health care needs. The insurance plans are offered by the company such as Health Guard, Personal Guard, Hospital Cash, Critical Illness, Silver Health, E-Opinion, Star Package, Health Insure, Insta Insure, Sankat Mochan, Family Floater HG, Tax Gain, Extra Care, etc. Each of plan is special in it’s class which fullfills the customers different needs for healthcare. Additionally, it offers very competitive rates for their health insurance plans that suits to every individuals budget.

These plans provide adequate health coverage to the insured for any sickness, illness and injuries. It covers hospitalization expenses such as room rent, boarding expenses, doctors fees, surgeon fees, specialist fees, anesthetists, nursing expenses, anesthesia, exportation theatre charges, ICU charges, cost of medicines and drugs, blood, oxygen, diagnostic cost, surgical appliances, pacemaker, artificial limbs, etc.

Pre and post hospitalization expenses are covered for medical treatment up to 60 days prior to hospitalization and 90 days after hospitalization. The pre-existing diseases can be covered after 4 continuous policy years.  In the event of emergency, the cover is also provided for ambulance charges.

Critical illness insurance covers life threatening illnesses such as cancer, stroke, paralysis, multiple sclerosis, kidney failure and many more.

The age criteria is different for different plans. There are various sum insured ranges available for the customers to choose from. The family discount is provided on premium rates.

Bajaj Allianz Health Insurance offers cashless hospitalization service in over more than 2400 network hospitals across India. The cumulative bonus is provided on sum insured for every claim free year. It also offers income tax benefit on the premium paid under section 80D of the Income Tax Act,1961.

Source by Habibulla Antule

There might come up a time when you become disappointed with your auto insurance company; for example, you might experience that you’ve been addressed unfairly or maybe unjustly refused payment of a claim or your insurance policy canceled without adequate notice. It is better always to contact the insurance firm on your own and attempt to reach a friendly settlement with them.

Even so, if you are not capable to reach a suitable solution with your car insurance firm you can file a complaint against the insurance firm to your state insurance commissioner or your state’s department of insurance. Hence, here is an easy acknowledgment guide about how to approach filing a complaint against your auto insurance firm:

What you’ll need

•A Net connection

•All automobile insurance associated documentation and correspondence

Assemble Your Documentation
Remember to gather all of your policy documents that are associated to the automobile insurance problem close at hand. Be sure to have copies of your account information and whatever bills that might be in your self-possession. Make a point to have access to any agreement to or from the automobile insurance company. These should include notes, e-mails that you have taken on any phone conversations with the insurance firm and any different type of correspondence you might have. Make sure that your documentation is correct as much as possible, as this will be the selective information that’s utilized as the basis of filing a complaint.

Get in touch with Your State’s branch of Insurance

Every state in the United States government has a Department of Insurance or agency of the Commissioner of Insurance. Although the name might change, the purpose remains similar. These are the government administrations committed with governing and managing insurance firms in your state. You’ll be able to visit the website of the National Association of Insurance Commissioners (NAIC) and click on states and jurisdictions to watch a map by the U.S. with a link to each one state department of insurance. As well the mainland U.S., the map has links for American Samoa, Guam, Northern Mariana Islands, Virgin Islands and the Puerto Rico. Once you’ve addressed your state on the map, just click the link to go to the Department of Insurance website for your state.

Check out if you are able to file Your Complaint Online

Several states let you file grievances or complaints versus insurance firms over the Internet. Even so, a couple of states however ask you to submit complaints through the US mail. Even, other web sites allow you to e-mail a complaint and so later on forward a hard copy of the complaint or grievance. The NAIC internet site offers you information of almost all 50 states and how to file complaints on the appropriate agency in that state. But, you should also visit the webpage of the state’s Department of Insurance to be sure about prerequisites for filing complaints.

Decide Your Complaint strength

You should make sure that your complaint falls inside the possibility of issue for which you could complaint about your insurance firm. e.g., A few states permit you to complaint about an insurance firm for affairs such as: claim disputes, coverage issues, premium problems, sales misrepresentations, refunds and policy cancellations. Even so, few states might grant you to file complaint associated fewer or more of different types of automobile insurance issues.

Follow the instructions

Although the internet site of your state’s Department of Insurance Company makes it a point to read all the instructions carefully, prior to carrying on with your complaint filing, you’ll need to make sure that you follow the directions accurately so that your complaint could be addressed in timely and efficient manner.

You should be aware that more complaints might become unprocessed, as a lack of adequate evidence and documentation. Hence, you should be thorough as possible while sending selective information to your state’s Department of Insurance.

Source by Seomul Evans

“Group coverage” is used loosely to describe health insurance plans that are employer sponsored but there is a distinction between “Small Group” and “Large Group” health benefits which is important. Your company’s options can be quite different under these two umbrellas so let’s take a look at the how they differ both in terms of qualification and treatment under the law.

What is “Small Group” in terms of employer-sponsored health insurance In the State of California, Small Group health insurance is essentially employer-sponsored health insurance for companies with 2-50 employees. Eligibility requirements and protection is handled under AB1672.

First, “Guaranteed issue” is a very big advantage to establishing a Group health insurance plan in California versus other States. Regardless of the health of employees enrolling, the carrier must offer coverage to an eligible company. There are requirements that must be met by the company but the big three are 1) 2-50 employees/owners; 2) 75% of the eligible employees must go with the plan; and 3) the employer must pay at least 50% of the employee’s premium (does not mandate dependents). For more information on qualifying for Small Group coverage, please check our page of Small Group enrollment.

The ability of the company to change rates is also very important, especially for companies that have employees with health issues. In California, the carriers can up or down from the standard rate by 10%. This is called the RAF (Risk Adjustment Factor). The size of the group can affect this rate factor since the larger the group are more likely to get a lower RAF. The theory is that health issues are spread among a larger pool of people. It’s not atypical for carriers to offer RAF guarantees based on the size of the enrolling group.

Finally, the health carriers in California designate and file their Small Group plans with State agency responsible. Any eligible group can then apply for the same plan regardless of health. This is important to keep carriers from “cherry picking” healthy groups on to certain plan types and excluding less healthy groups.

How does Large Group health insurance differ?

Officially, large group health insurance is for groups with more than 50 employees/owners. Some carriers may allow groups that were originally designated as Small Group to remain on the Small Group suite of plans if they grow beyond 50 employees but they are not required to. There are some very big differences when comparing Large Group with Small Group described above.

Large group plans are not protected by AB 1672 and are not “guaranteed issue”. The carrier can decline coverage to groups based on claims experience and/or health history. Rates are built for that specific group’s claims experience and risk so total amounts can vary significantly from group to group. The plan options are different from those offered to Small Group and then to offer many more options. Some carriers even offer more of a cafeteria option where employer’s pick specific benefits to offer (i.e. choice of office copay, etc). Some Large group have tailor-made benefits to meet their needs and budget. Large group is quite different from Small Group and contacting an experienced agent is more important than ever when navigating this side of the business.

Source by Dennis Jarvis

Workers compensation insurance carriers can seem like a hassle to come in contact with when they are needed the most. The reason for this can be simply that people don’t have the time and patience to get a hold of them, or simply don’t know how or who to call. Listed below will be a list to help you out a little bit better and make things a bit easier for you.

Farmers Insurance can be contacted through a farmer’s agent. Anyone will do, and you can find VIA the Internet.

Liberty Northwest Insurance Corporation can be reached via the phone or email. You can find the toll free number online via the internet and also may be contacted via the Liberty NW Office.

Oregon Workers Compensation Insurance Plan is for workers who have been injured on the job. You can call them direct or get a hold of an agent who can help you with your questions, claims and other inquires.

You can get the number via the internet or the phone book. There are even stores you can go to for easier access to an agent, and a face to face discussion.

Hartford Insurance can be contacted through your nearest agent. You can contact them via person, email, or telephone as well.

Republic Insurance goes strictly through independent agents. You need to either call an agent or Mike Me nacho for the name and number of an agent nearest you. For this you can use the internet.

CompWest is for automotive businesses, retail and manufacturing and hospitality. They can be contacted through the Internet or by phone. For the number call 411 or use the Internet.

Guideone Insurance can be contacted through its agents by phone or email. You can call and ask for the commercial department. This insurance is for package policies on churches.

Grocers Insurance is obviously for only grocers. To speak with your insurance you need to get a hold of an agent nearest your area.

SAIF Corporation is determined to help give compensation at affordable prices for employers in Oregon. They can be contact through direct agents. Use the internet for the number or email to contact a local agent near you.

There you have a list of Workers compensation insurance carriers and how you can contact each one when you need them most.

Source by Bill Gatton

Long-term care may be needed for yourself, or a loved one, in the future and you need to prepare for that possibility. However, it can be difficult to know exactly how much long-term care they will need in the future, since it is impossible to predict the future. You could end up needing long-term care insurance for a few months following an accident, surgery or illness, or you could need long-term care insurance for years in your old age when you need assistance with day-to-day activities. There is no way to tell how it will be for you.

As a result, you should look at what kind of life you want for yourself in the event you need long-term care. Do you want to have the same financially stable life you currently enjoy, or do you want just enough insurance to get by because you have a large savings? These are the questions you need to ask yourself before you go about getting your long-term care insurance coverage.

Generally, you are not going to want to go with the lowest insurance plan because you may not have those savings forever, and even long-term care insurance will only cover so much if you go with the lowest plan. Before you know it, you could end up with no money left and poor insurance coverage. If your long-term care needs go on for years, you could be in a very difficult situation.

As well, you may choose not to go with the highest priced plan, despite the ample benefits it can provide for you. You may choose to not go with the highest priced plan because of you own financial situation at the time, or because you simply do not want to.

Try to go with a middle of the road long-term care plan that will cover you even if you have savings. This will allow you to have the care you need, without having to dip too much into your savings. This will then allow you to last for quite awhile on your savings. As with anything, the middle-road is often the best option to go with. You will not have to spend too much like you would on the higher plans, but you will gain more coverage than you would on the lower plans. It is all about moderation and having a good savings to go along with your long-term care insurance coverage plan.

Conclusion The world is an uncertain place, and while long-term care insurance can provide you with the assurance you need to know about how your life will play out in the event you need long-term care, finding the right coverage can be difficult. If you have the money, go with the higher-cost coverage plans, the more you pay the more you get and the less you worry. If you don’t have much money, then go with the best plan you can afford. You don’t want the lowest plan but if that is all you can pay for; then take it. A little long-term care insurance coverage will be better than none.

Source by Terry Stanfield

Liability insurance is very important and most state auto insurance laws require that an individual maintain at least liability insurance on their automobile. What it does is protect you against costs that are associated with the damage and injury of another in an automobile accident in which you may be deemed at fault.

There are two parts to the policy. There is property damage liability and bodily injury liability. It is pretty easy to guess that property damage liability is going to protect you against any cost and damage that is associated with damaging another person’s physical property and that bodily injury liability is going to protect you against the personal injury inflicted on someone else as a result of the accident.

Usually, there are some numbers that a person may see on their policy. These numbers usually look like this: 50/100/25. Now what this means is that the policy is split up into three different amounts each policy can be different depending on what the individual chose when they opened the policy. In this case, 50/100/25 means that the insurance will pay for the bodily injury of an individual in an amount up to $50,000, will pay for the bodily injury costs on everyone in a vehicle in an amount up to $100,000, and will pay property damage costs up to $25,000.

Every vehicle requires its own level of liability insurance depending on what state you are located in. It is important to know what your state’s auto insurance requirements are so that you have an idea of what you would have to pay in your insurance premium.

The cost

Liability insurance is cheaper than full coverage insurance that also includes damages from theft, natural disaster, and vandalism. Liability only covers costs associated with an accident so that you do not lose your hard earned assets in a lawsuit. There are have been cases in which a person has been sued for more that what they have in coverage, but the liability insurance does lessen the blow. However, a person can pay for different levels of liability insurance to ensure that they will not be “taken for everything they’ve got.” Not having enough insurance can still have a heavy impact on a persons life when an accident occurs.

No one intends on hurting another and they usually do not purposely engage in an auto accident because there is so much trouble involved, including the possible loss of the vehicle. That is why it is important to carefully assess how much insurance you think you will need. Liability is rather affordable. Some states have a minimum requirement of 20/40/10, but you could carry something such as a 50/100/50 if you think you need it. The cost is still not going to be much.

Just remember

Don’t forget that if you set your limits too low you could be setting yourself up for financial disaster even though you have car insurance. This is to be considered carefully. It is easy to make the decision to save money by paying the lowest premium possible, but paying the lowest premium possible could later result in the loss of your assets. It is also important to remember that liability just covers bodily injury and property damage. If a tree falls on your home during a wind storm, it is then time to assess your options.

However, liability insurance will protect you from those nasty lawsuits that may come your way as a result of an accident. That in itself makes it more than worth the money because you have the peace of mind that most or all your assets are protected.

Source by Amy Nutt

In 2009, the Wisconsin unemployment rate hit a 27 year high at 9.4 percent. With rising unemployment, a ripple effect began that touched on almost all parts of life, including personal protection. According to a study conducted by the Insurance Research Council, as more and more Wisconsin residents lost their jobs in 2009, several hundred thousand drivers dropped their automobile insurance.

Data from the study indicates that a single percentage point increase in the unemployment rate is associated with a half-point increase in the percentage of uninsured drivers.

In addition to loosing their income, many Wisconsin drivers began and are experiencing auto-insurance rates that are rising after a couple of years of flat or declining premiums.

Of those that are choosing to keep their auto insurance, many have and continue to react to the rate increases by stripping down their auto-insurance policies, taking the absolute minimum level of liability coverage legally required to drive in the State of Wisconsin.

The time has come to become concerned if you are a driver or frequent passenger of a moving vehicle. A good proportion of people on the road are either uninsured or under-insured; its now more important then ever that you protect. Your odds of being in an accident with an uninsured driver are substantially high.

If you’re hit by an uninsured motorist, you may have to file a lawsuit and even go to trial in order to be able to recover costs of the accident and associated medical bills. Unfortunately, even if you sue, many uninsured motorists have few assets to collect. The best way to protect yourself is by carrying uninsured-motorist coverage, although this may boost your premium. Uninsured and under-insured motorist coverage adds roughly 7% to 9% to an average auto premium. In my opinion its worth it.

Motorists driving without insurance also face risks. In a wreck, they could lose whatever assets they own in a court judgment. Motorists who allow their policies to lapse for any reason also often must pay an initial 25% to 50% surcharge for a new policy. Because unlicensed and uninsured drivers are disproportionately involved in fatal accidents, insurance companies classify them irresponsible and charge them more.

Wisconsin legislation was recently adopted requiring all Wisconsin drivers to be insured by July 2010. This law will hopefully reduce the number of uninsured motorist, however, under-insured motorist will still be prevalent.

It is important to remember that even in tough economic times, it makes sense to carry uninsured motorist coverage to adequately cover yourself in the event that you are in an accident with a driver that is uninsured. You have earned your assets and have the option to protect them.

Source by Randall Rozek

Risk management has been defined as the process of identifying and analyzing loss exposures, evaluating the feasibility of risk management techniques to address the loss exposures, selecting and implementing the best techniques and monitoring results, in such a manner that any organization or governmental entity can meet its objectives—minimization of the adverse effects of accidental losses.

It is indeed a truism that the insurance industry can play a very significant and critical role in a nation’s developmental process. In most developed and developing countries, insurance and risk management measures and practices have and continue to provide the bedrock for a sustained modern socio-economic infrastructure in which development and economic growth have flourished.

In the United States of America for example, risk management and insurance not only permeates every facet of economic and social endeavor, ranging from healthcare to governmental contracting, but is the essential engine driving innovation, development, commerce, investments, governance and societal change.

In the Sierra Leonean situation by contrast, the challenge still remains how insurance professionals and governmental policymakers can creatively utilize enterprise risk management principles and insurance techniques in both the public and private sectors to effectuate the country’s economic development and growth.

Through the utilization of enterprise risk management principles, governmental entities and organizations are provided a systematic rigorous approach to managing risk from all sources that threaten their strategic, developmental, socio-economic and financial objectives.

 As a Sierra Leonean insurance professional who over the decades with every major loss either accidental or by design in the country always retorted that insurance would indemnify the losses, whether it was the burning by the rebels of machinery for construction of the Bo/Freetown highway or the destruction of the Sierra Rutile Company’s mining infrastructure, culminating in the recent NACSA and SABABU construction contracts; the realization that our country lacks a national risk management and insurance office designed to ensure that the country recoups indemnification or is held “harmless” in such events is indeed a cause for alarm.

It is thus against this backdrop that we are articulating and advocating the development and establishment in Sierra Leone of a national insurance and risk management strategy office designed to:

• Serve as a repository of all governmental contracts and agreements.
• Provide technical risk management and insurance review of all past, present and future governmental contracts and agreements so that government can recoup damages from past and current insurance contracts.
• Design and introduce innovative new micro insurance products and services.
• Work in conjunction with ministers, permanent secretaries and professional heads of departments in establishing an appropriate and effective risk management system within their ministries to enable them identify risks, analyze risks and mitigate risk exposures, through loss control measures.
• Provide insurance review of all governmental contracts and agreements for compliance with appropriate terms and conditions.
• Provide loss control oversight in all ministries, departments and governmental agencies.
• Protect government owned assets and minimize loss to the government and people.

It is also aimed at initiating and adding a new perspective to the wider debate of how a national insurance and risk management strategy could be utilized in addressing both macro and micro risks and loss exposures inherent in all facets and sectors of the nation’s socio-economic and governance infrastructure.

For an administration composed of insurance professionals in very key strategic positions including the President, Minister of Foreign Affairs, Minister of Employment and Social Security and Minister of Trade and Industry, the need for establishment of such a “National Insurance and Risk Management Strategy” must be a no brainier and should as a matter of urgency be seriously considered in other to effectuate the President’s avowed goal of “running the country like a business”.

The basic law governing the conduct of Insurance in Sierra Leone is the Insurance Act, 2000 which established the Sierra Leone Insurance Commission (SLICOM). Pursuant to section 3(1) of the Act, the commission is charged with ensuring “effective administration, supervision, regulation and monitoring of the business of insurance in Sierra Leone” through the performance and exercise of various statutory functions.

While the Sierra Leone Insurance Commission (SLICOM) and especially the Commissioner has performed a superb job over the years in its regulatory and supervisory functions, the broader insurance industry has however lagged in matching the potentials of its contributions towards national development.

The Act however does not provide for the kind of risk management and insurance oversight envisaged by the establishment of the risk management and insurance office.

As a result of its inability to innovate and increase its capacity and market reach beyond traditional instruments targeting only the formal sector, whose customers are corporations and wealthy individuals, with obligatory products such as motor insurance, the Sierra Leone insurance industry continues failing the nation.

In conclusion, government contracting personnel make daily business decisions about contract risks, insurance, limits, coverage and evaluation of insurance. Providing them with the appropriate tools and resources to assist in making these business decisions is very important for any nation‘s developmental aspirations.

Source by Kortor Kamara

Buying term insurance is always wise decision to provide financial security to your family. Under this plan, the sum assured is payable to the nominee, if the life assured dies during the term of the policy. Kotak Life Insurance offers a unique term insurance plan called Kotak Term Plan. It is a pure risk cover plan, specially designed to provide a high level of financial protection at very affordable cost. It provides the benefit of life cover of Rs.10Lakh for a premium of Rs.182/- per month only. (Indicative premium is for 30 year old healthy male for a term 10 years).

The plan offers conversion option to convert Kotak term Plan to any other plan offered by Kotak Life Insurance. The plan also offers special rates for non tobacco users and women.

In the event of death of the life assured during the term of the policy, the sum assured is payable to the beneficiary. Since this is a non-participating plan, no maturity benefit is payable.

There are three rider plans are available for a nominal additional premium(only fro regular premium payment option). They are-Kotak Accidental Death Benefit (ADB), Kotak Permanent Disability Benefit (PDB) and Kotak Critical Illness Benefit (CIB).

Tax Benefit-
Premium paid towards the plan  is eligible for tax benefit under section 80C and benefit received under this plan is exempt from tax under section 10(10D) of the Income Tax Act,1961. Premium paid for Critical Illness Benefit(CIB) is eligible for tax benefit under section 80D.

Eligibility-
Minimum entry age is 18 years and maximum is 65 years. The maximum age at maturity is 70 years. The plan offers three premium payment options to choose from Single, Regular and Limited Premium Payment (3 pay and 5 pay). The plan term ranges are 5 years to 30 years. The minimum sum assured is Rs.3,00,000/- and maximum is Rs.24,99,999/-.

Source by Habibulla Antule

Being self employed means you have the same responsibilities for insurance as if you ran your own business. As a self employed person you could be working in people’s homes or offices, on building sites or in workshops. Working in all of these places is a risk and insurance will cover you for these risks.

Why is self employed insurance so important?

Self employed insurance protects you for risks that might occur whilst you are carrying out your work. For example, let’s say you are a Plumber working on someone else’s property. You might accidentally break a pipe in that persons home which causes a leek and damage. That person may then make a claim against you for the damage you have caused. If you have insurance this would usually cover the cost of the claim so you don’t have to pay it yourself.

Your customers may even ask you if you have insurance because if you do cause any accidental injury or damage they know that the insurance company will be able to pay for the cost of their claim. If you don’t have insurance you will have to pay the costs and if you don’t have the money they won’t get their claim paid.

When you are employed you are normally covered by your employers insurance so you generally don’t need to think about taking out your own insurance but it should be a priority when you first become self employed.

If you are in the UK self employed insurance will usually consist of some core cover depending on the type of business you are in. These covers can be:

Public Liability Insurance- This is a cover that protects your business for any damage or injury you might cause to another person or their property. If another person makes a claim because of accidental damage, your insurance will normally cover the claim.

Professional Indemnity Insurance- If you are a self employed consultant you might be in the business of giving advice to your customers. If the advice you have given accidentally causes a customer to suffer a financial loss you could be liable to pay for any claim made against you. With Self employed insurance your insurance would cover the costs of the claim.

Employers Liability Insurance- Being self employed the chances are that you don’t have employees but if you do you are required by law to have Employers Liability Insurance.

Additional Extras- You may have specific needs for extra insurance cover that the core policies don’t cover such as tool and equipment insurance or van insurance. There are various others you can add that will cover you for different tasks that you do.

Source by Patrick Martin

The marketing plan in an insurance company business plan is the place to define what the brand is that your firm will try to create. The promotion methods you choose and describe in the plan should flow naturally from this brand. Consider these tips about methods that work for insurance brokerage firms.

Service Is Where You Can Shine

Insurance brokers match up their clients with insurance coverage – products with little difference between each other except for price. Therefore, brokers must differentiate themselves from their competitors based on the service they offer. Creating a reputation for excellent service, or for some aspect of service, can become the marketing you need when you start a systematic referral program.

Making Referrals Work For Your Insurance Brokerage

Making the process of seeking referrals systematic begins with tracking how many referrals you receive and close from your clients and from other sources. Set targets for what you’d like to achieve and think ahead as to how you can improve your numbers. Just being conscious of how referrals are working for you can lead to improved sales.

To go further, consider creating financial incentives, bonuses, or gifts to the referrers for business that closes, or just for providing names of qualified leads. Satisfied customers should be happy to think of more business for you rather than being put out when you ask them for leads.

Deepening Sales Rather Than Broadening Customers

If you broker a wide range of insurance products, you may be able to build revenues just as fast through selling more to each individual, family, or company rather than acquiring new ones. The best time to do this is when customers are initially brought on board, as they may be interested in minimizing their risk in multiple areas while they have insurance on their minds. Periodic check-ins (during the renewal period at the very least) are other times to ask customers about expanding their coverage.

Source by Eric Powers

With the severe shortage of truck drivers, many companies are ready to pay a huge amount to truck drivers and also reward them with extra benefits. Most of the goods are transported with the help of trucks throughout the US. Many companies rely on trucks for their goods to be transported. Hence the transportation industry is constantly looking for skilled truck drivers. If you get into the right company, you not only enjoy the benefits that the company has to offer but also have a secure job.

Most companies believe in giving the best to their drivers. Every skilled driver is an asset to the company, and hence the employer takes utmost care to give him or her good facilities. An entry level truck driver can also grab a good offer and go on to a successful career with more experience. If you have the correct skills for driving on the highway and have been trained from a reputed driving school, your chances to be hired by top companies are more.

You don’t need any specific degree; however, if you complete a short course on truck driving, it can help you fetch a better job. To hit the roads with the bulky trucks, you need to obtain a commercial driver’s license, which you can get after passing a driving test.

Your driving school can help you to get a high paying job and there are also many driver-recruitment sites that can help you find a job with top ranking companies. All you have to do is register with these sites and apply for high paying companies. Almost all the companies take care to provide truck drivers with number of benefits like the health insurance, retirement plan, bonus and better rewards for better performance. Truck drivers also benefit by getting 2 days off if they spend a week outside the city and are entitled to paid leave.

Companies also take care of the driver’s family and offer family insurance. Some truck drivers are paid on a weekly basis. This enables them to never have their pockets be empty and no worries if the month end is approaching. Incase of emergencies, truck drivers can ask for advance cash.

Most companies give their drivers the option of becoming a national or a local driver. If you are a family oriented person, you can opt to be a local driver and still enjoy all the company benefits. However, if you love traveling, you can move on to be a national driver and earn extra income in exchange of being away from home for months. Many companies hire couples as truck drivers, which not only allows the couple to spend time together, but also get double income and benefits. With the rise in the demand for truck drivers, you can benefit from this situation and make the most out of the truck driving jobs.

Apart from a number of benefits, the truck driving job offers a great career that helps you to become a professional and earn a great income, while enjoying a tour of the nation. So if truck driving excites you, look no further and get into the driver’s seat and enjoy the rewards and benefits those companies have for you.

Source by Kris Koonar

Have you ever considered what would happen if you became injured or ill enough that you would no longer be able to go to work everyday? Do you have a plan in place that would continue generating a form of income during a period of time where you were unable to earn one? If you do not already have a plan in place then Disability insurance is something that you should consider.

Disability income insurance is one of the most overlooked types of insurance available to the individual market. This is partly due to many reasons, of which cost and lack of publicity wouldn’t be the least. Regardless of who or what is to blame, many Americans do not have any level of income protection. If you are fortunate enough to be aware of the risk associated with a debilitating injury or illness and the affect it may have on your income, you should take the appropriate measures to obtain Disability insurance.  

If you do not already know, Disability insurance is a product that provides income protection against a debilitating injury or illness. If an injury or illness prevents you from being able to do your job, Disability insurance will provide you with a specific dollar amount every month to replace a percentage of your income, while you remain disabled. It is a product that allows you to continue providing for your family, paying your bills and maintaining a similar quality of life.

Depending on your occupation and work situation, you may be able to obtain Disability insurance through an employer sponsored group plan. If not, you can also obtain it on an individual basis. In order to purchase coverage, you can either research online and request Disability insurance quotes from a website or agent that you are comfortable working with, or ask friends and family for a recommendation. Whichever way you decide to do it, you should be sure to work with an experienced agent. Do not mistake experience for age or years of being an insurance agent. Many financial professionals have very limited experience with Disability insurance, even over a 20 or 30-year career.

So just how important is Disability insurance? Consider the following fictional example:  

A 35-year old person earning an annual income of $50,000 will earn a total of $1.5 million throughout his/her career if he/she works to age 65 and does not experience any pay raises. Depending on the individual’s tax bracket, this person will actually take home around $1.2 million after taxes. If he/she becomes disabled at age 35 and never returns to work again, this person would be losing $1.2 million.

By having Disability insurance to protect his/her income, this would not be the case. Based on a $50,000 income this person qualifies for approximately $2,700 of monthly disability benefit, which is equal to $32,400 per year. During the same 30-year period of time (going to age 65), he/she would have received at least $972,000 of total Disability benefits.

 Although it does happen, the previous example is clearly exaggerated. However, even a 2-year Disability claim (shorter than the average claim) can create great financial distress. After taxes, this same person earns approximately $80,000 within 2 years of working – a considerable amount. No matter what level of income you earn, if you rely on your income, than a 2-year break from work could cause a considerable hardship to you, your family, lifestyle, finances and savings.  

Disability insurance puts guarantees in place so that if a tragedy occurs, you and your family are not exposed to a financial disaster. If you do not already have Disability insurance, or are uncertain as to whether you should purchase it or not, be sure to give it considerable thought – not only on how a disability would affect you, but also how it would effect your family and loved ones.

Source by qiaodigg

Consumers should be weary of letting other people drive their vehicles. It is important to understand that coverage does not always transfer to permissive use operators at the same limits that are listed on the policy.

In California many auto insurance companies offer what is known as reduced limits for permissive use drivers. With policies that have these stipulations, if the insured were to let another person use their vehicle, often times in the event of an accident the coverage will be reduced to the state minimum coverage. In California the state minimum is $15,000 per person for bodily injury, $30,000 per occurrence, and $5,000 property damage protection.

With the state minimum coverage so low, many times policy holders purchase policies that offer a significantly higher. A common limit for bodily injury in California would be $100,000 per person for bodily injury. Although the consumer has chosen the higher protection while they and the other stated drivers are operating the vehicle, if permissive user were to use the vehicle and be involved in an accident the insurance company would default the coverage provided to the coverage stated in the insuring agreement.

It is important for consumers to understand the coverage on their auto insurance policy and how this permissive use coverage is stated on their policy in particular. Not all insurance companies offer the same coverage and the stipulations of coverage will vary from company to company. Some insurance companies that offer the reduced coverage will also offer for the client the ability to endorse the coverage for equal limits of permissive use.

Source by Paul Woodward

Auto insurance in Missouri, like many other states, any driver or owner of an automobile is required to carry liability insurance on their vehicle. Even though this is a requirement, many individuals involved in accidents find that the drivers have no insurance. Due to this, many have unpaid collision claims and all residents suffer from rate increases.

If you register a vehicle in this state, you must have liability insurance. Proof of insurance will be required when registering the vehicle or renewing plates. Proof of insurance must also be kept in the vehicle at all times. If you are asked to provide proof by law enforcement and you cannot, you will be ticketed.

Liability insurance provides legal coverage to you in case of injury or property damage that results as part your actions. The state of Missouri requires 25/50/10 coverage.

You are also required to carry $25, 000 of uninsured motorist coverage.

If you do not maintain your coverage, the Department of Revenue will receive a notification. They will also be notified if you are not able to produce proof of insurance to a law enforcement officer.

You have several options available to you for meeting the minimum requirements. These options include: Liability insurance, self insurance for an individual with over 25 vehicles, $60, 000 form of security that has been filed with Department of Revenue or a real estate bond that has been filed with the Department of Revenue.

Your responsibility as a driver is to be able to show proof of insurance whenever it is requested by law enforcement.

Failure to show proof of insurance can result in several punishments.

The Driver License Bureau will receive notification of the conviction. At that time, it will be appear on your driving record. You will also be assessed with 4 points. Remember that if you receive 8 points within 18 months, your license will be suspended.

At the courts discretion, it can order the Driver License Bureau to monitor you to ensure that you maintain coverage.

Your license may be suspended by court order. The Driver License Bureau will receive the court order and then the person who has received the suspension will be notified.

If your license or plates are suspended for not maintaining insurance, there are specified time limits on the suspension.

The first suspension is 0 days.

The second suspension within a 2 year period is for 90 days.

If there is a third incident, the suspension is for 12 months.

When the time period is over, your license or plates will be reinstated as long as you provide the Driver License Bureau with certain documentation.

For a first time offense proof of insurance and a $20 reinstatement fee is required.

The second offense requires proof of insurance and a $200 reinstatement fee.

For a third or subsequent offense, proof of insurance and a $400 reinstatement fee are required.

For three years after the suspension period ends, proof of insurance must be kept and filed with Department of Revenue. Failure to do so will result in another suspension. This suspension will be effective for the remainder of the 3 year period unless you provide proof of insurance and pay the instatement fee again.

Source by Jim Bassett