Good Ole FAILBlog

"There are only two words that come to mind when I see the expression on Stickman’s face: insurance fraud. Medical bills aren’t cheap, you know!" - FAILBlog

 

PS: I just noticed he's got two thumbs up! 

Congratulations Class of 2012!

 

Congratulations Class of 2012: Now It’s Time to Graduate to Your Own Insurance!

"It’s a rite of passage for college students to don cap and gown and march for graduation ceremonies- in fact, according to the National Center for Education Statistics (NCES), nearly 1.8 million students will graduate with a bachelor's degree in 2012. As those 1.8 million make the transition from undergraduates to careers, pursuit of advanced degrees or back into mom and dad's basement, it's critical that they understand how walking across that stage may have changed their insurance needs. While every individual’s needs are unique, here are five basic insurance coverages that all college grads should consider, to see if they apply:  Auto insurance A shiny new car, whether owned or leased, holds appeal for newly employed college grads.Auto insurance helps cope with the expenses of accidents, vandalism or theft.  A lender or leasing company that finances the vehicle will require auto insurance. Car accidents can create large liabilities for a driver, so the liability portion of auto coverage helps protect the bank account. Plus, auto insurance covers many legal expenses if a driver is sued. If a graduate who already owns a car is moving, where they keep and register the car, especially from one state to another, can impact coverage. It's important for new graduates to let their insurance agent know about these moves to make sure their current coverage will still apply, or if they'll need a new policy.   Health insurance Under the new federal health care law, children can remain on their parent's health insurance policy until age 26. With unemployment and underemployment high among those in their early twenties, this can provide many recent grads with health insurance until they are able to get it through their employer or an individual policy. Individual policies can be pricey and differ significantly in coverage, so talk with a Trusted Choice® insurance professionalabout what makes the most sense.   Homeowners or renters insurance College grads starting out may not own a home yet, but may rent a residence. To make sure their possessions are protected, homeowners and renters insurance offer comprehensive coverage whether at home or traveling. Liability insurance included in renters and homeowners coverage also helps protects against the risk of being sued. There usually are limitations on renters coverages within a group house—a typical post-graduate arrangement—so it is important to understand the details of a policy.   Life insurance New grads may find a job with an employer that offers group term life insurance coverage. However, those with children may find it worthwhile to buy additional term life insurance or permanent life insurance, which builds cash value over time.   Disability insurance This is a vital but often-overlooked insurance coverage. It provides income when a person is injured or disabled, whether on the job or off. A Trusted Choice® insurance professional can calculate the right amount of coverage to help a person live while recovering.   New college grads may want to lean financially on their parents’ insurance coverages as long as possible (though mom and dad might feel a little differently!). While that makes sense, it’s not always viable. For instance, auto insurance companies will require an owner or lessee of a car to carry their own coverage. There are plenty of insurance policies out there that new grads won’t need, unless there are special circumstances, such as air travel insurance, contact lens insurance or cancer insurance. Typically, it is better to have comprehensive policies like renters or health. Parents of new graduates also should take this time to review their own insurance portfolios, as there may be opportunities to reduce their premiums when child moves out of the home. A Trusted Choice® insurance professional can help new grads and their families navigate these waters, to provide sensible coverage that won’t break the bank."

http://www.trustedchoice.com/Content/Articles/graduate-to-your-own-insurance.aspx

Water damage - Tips for reducing your risk!

 

This week, a few tips for supply lines and drains:

• Watch for stains on walls or ceilings & a musty smell.
• Pay attention to your water bill. A significant increase could indicate a leak.
• Insulate pipes in attics, basements and exposed exterior pipes to avoid freezing.
• During periods of freezing weather, open cabinet doors to expose pipes to warm air.
• Disconnect garden hoses when freeze warnings are issued.

Next week, tips for toilets!

 

 

 

Source: The Institute for Business Home and Safety  - www.disastersafety.org

Insurance fail to brighten your Monday morning blues!

What am I Riddle?

        

• I am a piece of paper, a drop of ink and a few pennies of a premium
• I am a promise to pay
• I help people see visions, dreams and achieve economic immortality
• I am education for the children
• I am savings
• I am property that increases in value from year to year
• I lend money when you need it most, with no questions asked
• I ensure people the daring to live and the moral right to die
• I create money when non existed before
• I guarantee the continuity of business
• I am a declaration of financial independence and economic freedom
• I am protected by laws that prevent creditors from assessing the money I give to your loved ones
• I bring dignity, peace of mind and security to your family

       

What am I?

 

 

 

The Irish Blessing

 

May those who love us, love us;

And for those who don't love us, 

May God turn their hearts;

And if he doesn't turn their hearts, 

May he turn their ankles,

So we will know them by their limping!

 

Happy St. Patricks Day!

New Year's resolutions that could lower your insurance rates

 

Six resolutions that could lower your insurance rates.

 

1. Lose weight

If you're among the two-thirds of Americans who are overweight or obese, losing weight could qualify you for lower life insurance rates. That's true whether you're applying for a new policy or already have life insurance.

Louis J. Cassara, chairman and CEO of the Financial Resource Network in the Chicago area, says several of his formerly overweight clients who slimmed down through healthy diet and exercise programs were able to get reconsideration of their life insurance rating classes on existing policies. The strategy reduced costs of their permanent life insurance policies, allowing more money to go into cash value, says Cassara, a Chartered Life Underwriter and Chartered Financial Consultant.

"You can save 5 percent to 15 percent on the cost of insurance by being in good shape," he says.

Not all life insurance companies allow existing policyholders to apply for better rating classes. Ask your life insurance agent for details.

2. Quit smoking

"Smoking dramatically increases the cost of insurance, particularly for term life insurance," Cassara says.

Smoking also raises premiums for permanent life insurance, such as whole and universal life, as well as disability and long-term care insurance.

Most life insurance companies require you to be tobacco-free for at least 12 months to qualify as a nonsmoker, but John Hancock offers a "quit smoking incentive" program for its universal life and variable universal life products.

Cassara says the John Hancock program lets smokers who intend to quit smoking qualify for standard nonsmoker rates for three years. They get to keep the nonsmoker rate permanently if during the three years they show evidence they quit smoking for at least 12 months.

3. Make your home safer

Ask your homeowners insurance company or agent about safety and security discounts.

"It could be something as simple as installing deadbolts on doors or putting in better locks on windows, up to installing a security system with remote monitoring," says Tully Lehman, a spokesperson for the Insurance Information Network of California.

Consider upgrades for fire safety, too, such as replacing an old wood shingle roof with a roof made from fire-safe materials.

4. Improve your credit

Insurance companies in some states can use credit information as a factor in setting car and home insurance premiums. People with good credit get lower rates than those with poor credit histories. To improve your credit, request free copies of your credit reports through annualcreditreport.com and follow instructions to correct any factual errors. Then, catch up on late payments to creditors, pay your bills on time and keep credit card balances under 30 percent of credit limits. Not all states, however, use credit history information when setting rates.

5. Drive less, drive gently - if you can

Insurance companies offer pay-as-you-drive programs in a growing number of states. Examples are Progressive's Snapshot and State Farm's In-Drive. By enrolling in these programs, you agree to have your car's mileage and your driving performance tracked through a telematics device installed in your vehicle.

The device monitors how far you drive and when, how fast you accelerate and turn, and how hard you brake. If you qualify by meeting certain criteria -- not driving during peak hours, not driving more than 12,000 miles in a year and not taking turns too fast or braking too hard -- you can receive a reduction in your car insurance rate.

6. Turn off your cell phone while driving

Ditching your phone while driving may not directly lower car insurance rates, but it may help prevent accidents and traffic tickets, which can increase premiums. Recently, the National Transportation Safety Board recommended a nationwide ban on the use of cell phones and text messaging devices while driving. If adopted by all states, it would be illegal to use a phone while driving, even if you used accessories that allowed you talk on the phone without using your hands.

Currently, the use of mobile devices while driving is governed by state laws with varying degrees of scope. Some states ban all use of handheld cell phones while driving, others prohibit just novice drivers from using cell phones behind the wheel. Meanwhile, some states ban only text messaging while driving. Regardless of what the laws are in your state, safety experts say it's best to stay focused on the road rather than talk on the phone and drive.

"No matter how good you think you are at multi-tasking, having a conversation on a mobile phone while driving distracts you from safely controlling your car," says Dave Melton, a driving safety expert with Liberty Mutual Insurance and managing director of global safety. "Talking on a hands-free device makes absolutely no difference. You are distracted when you talk while driving."

Using a cell phone behind the wheel also teaches kids that it's OK to do so, no matter how often you tell them not to text or talk on the phone while driving.

"And the problem gets worse for teens and novice drivers who are [at] greater risk because they lack driving experience and may not recognize their own level of distraction or appreciate risky driving situations," Melton says.

Source: http://www.insurance.com/life-insurance/coverage/resolutions-lower-insurance-rates.html?WT.qs_osrc=fxb-45854010