Every year millions of Americans  go to their  garage and pull out all their Halloween Crafts, decorations, etc.  We then go to the store and stock up on candy to pass out to all those little ones dressed up as Vampires, Cinderella, Hanah Montana, etc.  However, passing out candy could put you at risk of being sued.  Therefore, we need to have the proper home insurance.   The risks of being sued by a “trick or treater” have increased over the years as our society has become one of, well, I would “Sue em” attitude.  Some common risks of being sued can be you being passing out candy to a lttle one and they choke on it and need to go to the emergency room.  The doctors, will want to know who gave them the candy.  You need to have the proper home insurance for liability coverage in case you are proven to be at fault.  Also, if trick or treaters are walking up to your house you need to make sure they have a clear path to your door.  If they slip and fall on your property, you could be liable.  In cold weather states, you will want to shovel any snow that may have fallen.  Michigan home insurance customers need to make sure their company will cover them if the trick or treaters sue them for neligence.   If your home is like our house on Halloween, then you will be serving alcohal.   Make you any guests does not drink and drive because you will be sued for serving them if they get into a car accident and hurt another driver. Make sure you have at least $300,000 in laiblility protection on your home insurance.  The most common reason for someone falling on your property during Halloween is triping on their own costume.  In states like Texas where a popular costume is that of a cowboy, most lil’ ones do not know how to walk in those Garth Brooks Cowboy boots and can cause serious injury when they are running up to your door for their free M & M’s.  Make sure your Texas home insurance policy has coverage for this.  Yee Ha!

The issue of not allowing insurance companies to base their rates on a consumers credit score is pretty much died down.  Statistics prove that people with bad credit scores are in fact more likely to submit a claim on their car insurance.  The fact is as much as the politicians say how much they are helping Michigan residents drive down the cost of auto insurance, from what we seen it has been a complete failure and another example of wastful goverment spending.  Check this out, The Governor of Michigan best idea to help drive down the cost of michigan auto insurance has been to appoint an “insurance advocate” to monitor the insurance companies to determine if rates are to high for michigan auto insurance.  Yes, that is a real job title and it gets better. His starting salary is $120,000.  And no that is not pesos that is real US Currency my friend.   So far this insurance advocate has done nothing. In fact michigan auto insurance is expected to rise again by 2.5%.  Nice job Governor!

With home foreclosures rising throughout the country and in my opinion will continue to go up until the market hits rock bottom in 2014 are eroding home insurance companies profits at an all time pace.

Home Insurance Companies are getting very nervous as they are watching their premiums drop in half as people lose their homes and letting their home insurance drop.   The other major problem they are now faced with is the addditional exposure they have when the home is vacant.  A vacant home is a prime target for theives to break in and strip a home, not to mention the increase exposure for arson.  Michigan Home Insurance companies have experienced more “grounders” (total fire losses) over the last year than any other time this century.   The news is not good for homeowners as home insurance companies will now be faced with improving their bottom line to remain solvent and the fastest way to do this is to increase rates.   Let’s just hope the Obama Administration does not get involved or we could be looking at them passing out more of our tax dollars as they see fit.

If you had to choose your Car Insurance Agent in the next 7 minutes, would you know what to look for? 

Some people think it really doesn’t matter where they buy their texas auto insurance. However, this misconception could be costing them money, service, and protection. Buying insurance isn’t like buying bread or milk. Car Insurance is an important safety net for your family, your home, your car or your business. DO NOT treat the purchase lightly!

• Pick a licensed professional with strong customer and community ties vs. some unlicensed out of state call center rep
• Look for an independent agency that gives you excellent service and competitive prices because they can access insurance coverage from more than one company.

       Unlike other agents, they are not beholden to any one company; thus, you don’t need to change agencies as your insurance and service needs change.

• An agent that can assist you when you have a claim.
• An agent that can act as your consultant, working with you as we determine your needs.
• An agent that can offer you a choice of insurance plans and programs.
• An agent that are  value hunters who look after your pocketbook in finding the best combination of price, coverage, and service.
• An agent that can offer one-stop shopping for a full range of products–auto, home, renters, condo, boat, life, and health.
• An agent that can periodically review your coverage to keep up with your changing insurance needs.
• An agent that treats you like a person, not just another number

For an easy way to find a reliable california auto insurance agent or an agent in  your area, visit RateElert today.

Ah, yor teenager finally turned 16 and passed drivers traing and you are thankful you dont have to drop them off and pick them up anymore from school and the mall!

However, that glorious feeling is quickly disipated when you get your michigan auto insurance bill from your insurance company and WOW-We….are you kiddding me?   This can’t be right.   How can these companies charge so much for my little princess, heck she is a safe driver. She even learned from the best….yours truly.

Well, to help you off set your skyrocketed insurance premiums, RateElert, has coming up with the following tips to save on Michigan Car Insurance for that special teenage driver in your life:

Alcohol & drug use
Driving under the influence can be a major problem for young drivers. Even small amounts of alcohol or drugs will affect driving ability, which can be deadly for anyone, let alone a young, inexperienced driver. Most states have strict laws governing underage drinking. Let your teen know that he or she could injure or kill someone when driving under the influence of alcohol or drugs. Also, a DUI on your teen’s driving record could make his or her auto insurance unaffordable.

Emphasize that your young driver should feel free to call you anytime he/she feels unable to drive, or whenever he/she is with another driver who’s unable to drive.

Inexperience and risk-taking—a deadly combination
With less driving experience, young drivers are less able to detect and respond to hazards, control a vehicle, and manage speed accordingly. They’re also more likely to take risks (driving too fast, cutting lanes, etc.) than more experienced drivers, especially when there are friends in the car. Generally, auto insurance premiums are higher for this age group because of their lack of driving experience and risk-taking attitude.

Help your teen be a safer driver by setting a good example with your driving habits and making sure he or she gets plenty of supervised driving practice. Also, when your teen’s a newly licensed driver, limit the number of friends (if any at all) that can be in the car when they drive.

Lack of seat belt use
Young drivers only use seat belts about 75% of the time. Without restraints, the risk of injury to a young driver involved in a severe crash more than triples. Make sure your teen always buckles up to avoid injury. (An added bonus of buckling up every time is that your teen will avoid getting tickets that will increase his or her auto insurance premium.)

Night driving
Since young drivers tend to drive more at night than during the day, they’re more prone to fatigue. Driving and fatigue NEVER mix. Due to decreased visibility at night, it’s also tougher for any driver to stay safe when it’s dark. When teens first start driving, it’s a good idea to place limits on late-night driving. By doing this, you may save your teen from an accident and an auto insurance claim.

Go Shopping

The best way to save is to get multiple quotes from at least 3 auto insurance companies.  Call around and ask your friends who they go through or for a fast way to compare rates go online and let your mouse do the shopping for you to find the best deals on car insurance for teenagers.

Do you have your current Florida auto insurance and Florida home insurance with the same insurance company?

If not, it could be costing you hundreds of dollars in insurance savings a year!

As a homeowner you qualify for a 15% multi-policy discount for insuring  both your Cars and Home with the same insurance company.

Another benefit to having both your Car insurance and

Home insurance with one agent is the added convenience of having one call to your agency that handles all your insurance vs. having to keep track of multiple agent/companies for different policies.

Also, when you combine your auto and home insurance with the same insurance company you may be subject to only one deductible in the event your claim involves both your car and home insurance. (ie. Tree falling on your car parked in the driveway). If the policies are with 2 separate companies, you might have to pay out 2 different deductibles to two different insurance companies, ouch!

Insurance rates are on the rise like everything else in America due to the financial markets and the US housing slump, insurers are losing millions in investment income and claims are rising throughout the Country.

RateElert.com offers the following 5 tips to help you find a lower insurance rate:

1) Look Around
The marketplace for car insurance is vast-car insurance companies are everywhere. Talk with friends and family, surf the Internet or use the phonebook to find providers in your area. Obtain at least three quotes from different companies. To save time, visit insurance comparison shopping sites like RateElert or use an Independent Insurance Agent. These guys represent an average of 3-5 insurance companies and can do your comparison shopping for you.

2) Research Discounts
When comparison shopping for cheap car insurance, pay attention to and ask about discounts. Many discounts can cut dollars off your car insurance premium without sacrificing coverage. Such discounts may include a defensive-driving course, good-student discount, accident free for three or more years or certain vehicle safety and theft-protection features, such as an anti-theft alarm system or anti-lock braking system.
Also consider raising your collision and/or other-than-collision deductible. This move can result in significant savings. However, proceed with caution-never raise a deductible to an amount higher than you can afford out-of-pocket.

3) Consider Coverage
When searching for cheap car insurance, do not sacrifice coverage. There is no substitute for having the right coverage at the time of an accident.
One area where less coverage may be a consideration is collision and/or other-than-collision coverage (collectively called “physical damage”) for your vehicle. If it is an older vehicle that is not worth much and you have no intention on fixing or replacing if damaged, consider dropping physical damage coverage on the vehicle.

4) Combine Your Policies
Most insurance companies will offer you a big discount from anywhere between 10-25% if you insure more than 1 policy with them. So it’s a good idea to have your Car Insurance company also insure your home. If you are not a homeowner, they will still give you the Multi-Policy discount for purchasing a Renters Insurance Policy thru them.

5) Drive Safe!
There’s no substitute for a clean driving record. Good drivers are less likely to be involved in an accident and therefore qualify for cheap car insurance. Accident-and citation-free driving are the best ways to a lower auto insurance premium.

We put together the top 5 claim reporting tips/mistakes made by American drivers. In case you are involved in an accident you need to avoid these mistakes to ensure your claim gets paid!

Tip # 1: DO NOT leave the scene of the accident.

My friend did this once after wrecking a BMW M5 300 yards from his house. He went to drop off his brother and father who were in the car with. Came back to the scene 15 mins after the crash and had Cops all over him ready to arrest him. Leaving the scene is also an offense and you will get a separate citation.

Tip # 2: Call the Police immediately.

DO NOT wait til you get home, to report the accident. However if it is a small fender bender and you can work it out without Police or Insurance you should opt for that all together.

Tip # 3: DO NOT admit fault.

DO NOT discuss the accident with anyone except the police and your claims representative. This will only hurt you and could cause confrontation with the other parties.

Tip # 4: Exchange Information with the other drivers.

- Name , address, drivers license numbers, and phone numbers of other drivers and witnesses.

- Year, Make , Model, and license plate number of all cars involved.

- Name of Insurance Company and policy # for other drivers involved.

Tip # 5: DO NOT forget to call your insurance company.

Claims Department to report the accident. Your 24 hour claims reporting phone number is listed on the back of your insurance ID Cards.  Remember, most carriers only allow you up to one year from the time of your accident to report a claim.  However, you need to report the claim as soon as possible. If fault has not been decided or is not clear discuss this with your insurance company, as they can help figure it out. Don’t assume the other party is taking the blame.

Anyone have good accident stories to leave in the comments?

image credit: Daily HaHa

600 Insurance Companies have failed since 1976…will yours be next?

RateElert.com, the internet’s leading online insurance exchange that assists consumers with finding the right policy at the lowest rate possible ,  comprised the Top 5 Warning Signs to look out for so you don’t get stuck with an insurance company who is bankrupt at the time you submit a claim.

Top 5 Warning Signs Your Insurance Company is in Financial Trouble:

1) You have trouble getting to speak with a  representative or placed on hold for more than 10 minutes when calling. Shows a decrease in staffing which could be a sign of not being able to keep up with payroll requirements.

2) Their AM Best Rating is downgraded to B++ or worse.  AM Best is a rating agency that evaluates the financial stability of insurance companies. You should always have your insurance with an “A “or better Rated Carrier.

3)  They increase your Rates by more than 40% .  This big of an increase shows a sign of lack of “Capital Reserves” on Hand which means your insurance carrier needs  to increase your premiums significantly in order to fund their reserves they need to have on hand to stay afloat.

4)  Late making your Claim Payments.  If  they take more that 60 days to settle your claim…watch out!  Your company  may not have the money coming in to pay your claim.

5)  Your Insurance Company asks the U.S Goverment for Bailout Money! If  they are behind AIG in line at the steps of the White House…Look Out!

What Happens if your insurance company fails?

You can be rest assured that your insurance policy is safe and your claims will be paid -within limits- even if your insurance company fails.

Many consumers may be questioning the safety of their insurance policies after the federal government announced an $85 billion bailout of AIG, one of the largest insurance companies in the United States.

AIG had not failed, but it does lack the cash on hand to pay out immediate claims.

With the help of the federal government, AIG will have the money to pays its immediate bills and customers insurance claims.  Experts say AIG’s  insurance policyholders are safe and that the company will not fail.  But if AIG can get into trouble, what about your insurance company?

Insurance companies do fail sometimes, but even when that happens, there are still safety nets the government has set up to protect you.

To help U.S consumers find out more on the financial stability of their insurance company, RateElert will e-mail you the A.M. Best Rating of your particular company after completing a 3-minute online form with information on your car insurance for FREE so you can feel safe and secure knowing you are with a finacially stable insurance company, and who knows you may qualify for a lower car insurance rate in the process!

*All the insurance companies in the RateElert Network are Rated “A” or better by AM Best. (a rating agency that measures the financial stability of insurance companies. If they are an “A” or better…they got the big bucks to pay your claims!)

Find out the AM Best Rating for your company by completing a short, no-obligation form for car insurance now in 3 minutes or less!  Click Get Rates below:

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Insurance Rates have fallen for the 3rd straight time in 2009.   The trend towards rate moderation is continuing. Underwriters received a better net rate for each risk they wrote in March but their gross premiums probably decreased due to the impact of the current recession on almost all types of exposures, such as payrolls, gross receipts and property values. The moderation in rate reductions will yield more premiums but declining exposures will more than offset the improved rate.  Meeting premium growth projections will be a challenge in the current economic environment. In our view, it would be wise for insurers to restate top line premium projections and focus on managing profitability. Investors would be well advised to carefully monitor companies that do not adjust to the ongoing recession by changing forecasts to reflect the shrinking exposure base.  Attempting to make up for premium reductions driven by the downturn in the economy by simply writing more business is dangerous. We are still in a soft market, moderating, but still soft. Thus, writing new accounts to offset the loss of income from a reduced premium base may have a negative impact on the bottom line. 2009 is a time to carefully protect the balance sheet and wait to make an aggressive move when rates are actually headed up; which should be early 2010.

To make sure, you are getting the lowest rate possible on your insurance, visit  www.RateElert.com

Source: Market Scout