A recent poll conducted for the insurance industry found that 80 percent of Americans want Congress to take measures to make healthcare more affordable. This according to a story by WNDU 16 out of South Bend, Indiana.

The insurance industry seems to be responding to said poll, and pitched a plan on Monday which would come with a taxpayer price tag of $300 million. It's worth it, said Jay Gellert, a member of the policy committee for America's Health Insurance Plans. And under the proposed plan, the industry says America's uninsured could have coverage within the next decade. How?

The new plan calls for:

• Expanded state programs like Medicaid, to cover more children and low-income families, including those that exceed the poverty level but can't afford health insurance
• Formation of "universal health accounts" with the government kicking in up to 50 cents for every dollar a low-income family saves
• A $500 tax credit for low-income families that buy health insurance for their kids
• $50 billion in state grants to help insure their residents

Sounds pretty good, right?

The clincher: who's going to foot the $300 billion needed to implement such a plan? The insurance industry doesn't have any suggestions on how to pay for it, but WNDU reports that insurers still plan to market the plan "aggressively" to the new Congress. And despite the fact that plan proponents don't yet have all the answers to get the ball rolling, healthcare advocates support the initiative, saying they're glad to see the insurance industry get involved.

"I think what this initiative does is get us off the dime and stop people from saying this is a problem that's not solvable," said Dr. George Benjamin of the American Public Health Association.

Encouraging, indeed.

We'll keep an eye on this story and post updates here as they come. And, if you're looking for more resources on finding affordable medical insurance in your state, check out our state-specific insurance articles in our resource center!

Posted by Megan Mahan at 01:23 PM | Permalink | Comments (1)
 

I posted a little something on the InsureMe Agent Blog today regarding identity theft insurance, and thought it was only fitting to revisit ID theft insurance.

Why?

Well, according to the J.D. Power and Associates 2006 Homeowners Insurance Study (see their press release here), over 40 percent of homeowners would like their home insurers to offer identity theft insurance coverage. Between the increase of large corporations leaking personal info, natural disasters spreading our business in literally all directions, and the government dipping into more of our personal affairs, it's no wonder that many of us are looking for ways to protect ourselves.

But I don't think identity theft insurance is the answer—at least not yet.

As I said in June, most ID theft policies aren't all they're cracked up to be. If your identity is stolen, ID theft insurance won't pay to help you repair any damage to your credit, nor will it help you absolve yourself of any illegal activity carried out under your name. Not great protection if you ask me.

Take a look at our post about ID theft insurance to get the full scoop, and to learn how you can protect yourself without buying superfluous (and frankly, moot) coverage. But do keep a lookout for advances in ID theft insurance. As consumers demand better protections, I'd venture to say that someone, eventually, will listen and give us a better product with which to protect ourselves.

Posted by Megan Mahan at 02:16 PM | Permalink
 

Life is risky. That’s why we have insurance. We buy auto, home and life insurance because even though we’re loath to admit it, we know we have a decent chance of crashing the car, burning down the house, and, well, kicking the bucket. (Ok, so we more than a decent chance on that last one.)

It’s possible you will never make a claim on a particular policy, though. Your monthly premiums may just disappear into the ether. You might make it all 77.3 years without so much as getting into a fender-bender. You might live a hundred illness-free years and die quickly and gracefully in your sleep. Even allowing for these possibilities, however, most of us get auto and health insurance. We love to gripe about paying premiums, but in general, we feel like we’re paying for something worthwhile.

Then there’s title insurance.

Continue reading "Why Tony Soprano Wants a Job in the Title Industry" »

Posted by Jeb Foster at 01:18 PM | Permalink | Comments (1)
 

I’ve always been a sucker for the products touted on those late-night infomercials—scissors that cut through metal, a plastic tube that stores and cooks your pasta, miracle powder that removes any stain from grape juice to motor oil. Basically, if it makes my life easier, I’ll buy it, or at least put it on my ever-expanding wish list.

In the home-inventory software from the Insurance Information Institute, I’ve finally found a product that helps keep track of all those possessions. Knowing what you own and its worth allows you to get insurance that provides adequate coverage.

You no longer need to walk through each room with a notepad; the software prompts you with questions about each room and allows you to upload photographs and receipts when necessary. It organizes all the information in a report, which you can burn onto a CD or print out and store at a friend or relative’s house. Best of all, when you buy that new juicer/food processor, it’s easy to add it to the inventory.

Download the Software for Free

Download Lists that give you an idea what to include in your home inventory.

Posted by maribeth neelis at 02:44 PM | Permalink | Comments (1)
 

Shopping for a new car brings many considerations. Aside from a car's fun features, you're probably evaluating things like size, gas mileage and horsepower. What many people forget to check on, however, is how a new car will affect insurance rates.

Yes, in addition to your own personal stats (including things like your driving record, age, sex, credit history and geographic location), your car can play a big role in how much you pay for auto insurance.

What gives?

Comprehensive and collisions costs are mostly to blame, according to this article, featured by MSN Money. Because, unfortunately, when repairs need to be made, insurance rates increase. This is especially true for higher-end cars. Generally speaking, the more your car is worth, the more it's going to cost to repair. Insurers realize this and will take it into account when determining your premium.

In addition to repair costs, insurers look at a variety of other factors when it comes to putting a premium price tag on your vehicle.

Here are a few other rules of thumb:

Continue reading "Buying A New Car? Don't Forget The Insurance" »

Posted by Megan Mahan at 04:04 PM | Permalink | Comments (2)
 

It's that time of year again, the time of massive dorm move-ins, rush week, tailgating and textbooks. Your student is off to college and you've covered all the bases. Except, perhaps, the insurance.

Insurance coverage is one of the most important, yet overlooked aspects of sending your child to college. Is your student adequately covered?

You can gauge if your student's coverage by asking yourself (and your insurance agent) four simple questions:

1. Are my student's belongings covered under my home insurance policy?
2. If my student drives another person's car, will she be covered by my auto insurance policy?
3. Is my student covered under my health insurance policy while at school?
4. What benefits will my health insurance policy provide to her while she's at school?

Not sure? You're not alone. Most parents aren't sure what protections their student has while they're away at college. But we've got some some tips and resources for you to make sure your student's coverages are up to snuff.

Continue reading "Back to School: Is Your Student Protected?" »

Posted by Megan Mahan at 11:14 AM | Permalink | Comments (2)
 

Life insurance isn't a fun topic; we all know this. And I'm not going to try and trick you into believing that life insurance is the coolest thing you've ever spent money on, because, well, it's not. Cars, books and in my case, shoes, are much cooler things to spend money on.

But as it happens, life insurance is a necessary purchase for most of us. So today I'm going to share four tips to maximize your coverage while minimizing your premium dollars...you know, so you have spare change in your pocket for the fun stuff. Like shoes.

See my four tips for life insurance savings after the jump.

Continue reading "Saving on Life Insurance: Comparing Quotes and More" »

Posted by Megan Mahan at 02:59 PM | Permalink
 

Well done, West Virginia.

The Register-Herald out of Buckley, W.Va.is reporting the partnership of State Farm and WVU Extension to help education women on insurance issues.

WVU Extension is a state organization aimed at educating and empowering the community about social, economic, environmental and technical issues. Terrill Smith, a WVU Extension agent, highlights the importance of insurance education for women:

Every woman who has to make insurance decisions for themselves and their families has wondered if the coverage she has on her car or home was enough. They wonder if they have enough life insurance coverage or if they need to invest in disability insurance. Many women have asked me questions about retirement coverage, homeowners' insurance and a variety of insurance issues.

Studies have also suggested that women seem to be falling through the cracks of America's healthcare system. According to a recent Kaiser Family Foundation study, over 17 million women over the age of 18 are without health insurance and one in ten working women are currently without health insurance. On average, men are 51 percent more likely to be covered under an employer's health plan, versus women at 38 percent.

At the risk of sounding preachy, this stuff is a big deal, which is why I commend State Farm and WVU, not only for recognizing the unique insurance needs of women, but for doing something about it. Tonight, the duo will offer a seminar regarding insurance issues. Those attending the seminar won't be pressured to purchase a policy of any kind, says Smith.

"People will not be asked to buy any insurance from State Farm or anyone else. This is just a wonderful opportunity for women to empower themselves by ask questions and getting information about insurance issues."

Sessions will be held from 1PM until 4PM and from 5PM until 8PM at the WVU Extension office and childcare will be provided.

Good stuff, West Virginia.

So...what's your community doing for you?

[Related article]:
Women and Health Insurance: Falling Through the Cracks? [InsureMe Insurance Resource Center]

Posted by Megan Mahan at 03:53 PM | Permalink
 

I just had an idea. It could turn out to be no good, and if it is, I'll take full responsibility for it in a few days if it fails miserably.

I read a post at the Consumerist today in which the author asks the readers how they liked their "sales greeting". Do they like being approached by salespeople in a store and asked what exactly they're looking for? Do they like to be ignored? Do they like to be welcomed into the store and then left alone?

The thread of comments following this post got me thinking about my preferences and how I liked—and disliked—to be solicited on broader sales level. (For example, I don't like when people call me but am okay with most email communications.) It also got me thinking about how greatly agents on the InsureMe network could benefit from consumer feedback. Then I had an obvious epiphany: why not ask readers of the Insurance blog about their sales and marketing preferences and share them with our agents!

So here's the deal. I want to hear from you. All of you. Tell me what you like, tell me what you don't like. Do you hate receiving phone calls from salespeople? Do you prefer being contacted with quotes and other offers via email? Do you pay attention to offers and flyers that you receive in the mail? Do you pay attention to newspaper advertisements? Radio ads? Do you like to meet with an agent or just get your business done and over with online?

Leave all of your thoughts and suggestions in the comments section [anonymously if you wish], and I'll share them with our readers at the InsureMe Agent blog. Because voicing your opinion is one thing—sharing those thoughts with someone who can actually do something about is another.

Oh...and remember, the more ideas you leave, the less of an idiot I'll look like. :)

Posted by Megan Mahan at 01:27 PM | Permalink
 

There is a brief but uplifting report in the L.A. Times on how the number of kids without health insurance has dropped by a third in the past eight years. The federal government credits state efforts and expenditures for the increase in coverage. According to the National Center for Health Statistics, about 6.5 million children were without health coverage in last year.

The National Association of Insurance Commissioners (NAIC) introduced a new Web site that aims to help consumers cope with the "maze of options and cost considerations" when buying a health insurance policy. The site is called InsureU, and in addition to offering resources on health insurance, it provides helpful tips on buying auto, home and life insurance policies. The site's unique organization allows users to find information relevant to their own "life stage," i.e., age or marital status. Check it out.

According to an NPR report, nutritionists are recommending a "big increase" in vitamin D exposure. Vitamin D is credited with building healthy bones and strong muscles. Previously, scientists thought random daily exposure to the sun was enough, but long hours in the office, increased sunscreen use and dim winter rays are leaving many without adequate levels of D. Ten minutes in the midday sun should be enough--provided you're not slathered in 45.

Lastly, it turns out that bird flu might not be the only "avian malady" to worry about. Check out these other bird-related afflictions.

Posted by Jeb Foster at 08:31 AM | Permalink
 

According to a recent U.S. News and World Report article, more than a third of all travelers will opt for some kind of traveler's insurance this year. (The number electing for coverage has tripled since 2001.)

The question is, should you insure your travel plans?

As is often the case after reading these painstakingly balanced articles, the answer seems to be an amalgam of the following: yes; no; maybe; perhaps; you might look into it; don't bother; and, heck, why not?

Continue reading "Traveler's Insurance: Wise Safeguard or Waste of Cash?" »

Posted by Jeb Foster at 11:49 AM | Permalink | Comments (3)
 

As a new addition to the InsureMe blog squad and novice insurance writer, I am trying to learn everything I can about this amazingly complex industry in an insanely short period of time. Does that sound familiar?

If you're looking for insurance of any kind, you probably feel as overwhelmed as I do! It is the paradox of our electronically-empowering age that we have access to so much information yet can feel so utterly helpless in the flood of available data. Lucky for you, if you're reading this blog you've landed on an excellent source of tips on finding the right insurance, staying healthy, and saving money. I've found that the best part about this blog is that you don't need to learn a new language (insurance-speak) to get useful information. It's all there in plain--and often humorous--English.

In closing, I wish you the best of luck in your effort to find the right insurance. Although I am little biased, I think you've found a great source for practical (and readable) insurance information ... I know it has helped me in the past couple of days!

Posted by Jeb Foster at 09:05 AM | Permalink | Comments (3)
 

Yesterday, I posted an update about the 2006 hurricane predictions. Following the post, one of our readers, Jr., raised the question of coverage options along the coast with this comment: "I heard on the news last night that some insurance companies will no longer offer insurance to people along the coast. Others are hiking their rates by over 50%."

Like last week, as I started to respond to his comment, it became involved enough that I decided to give my response its own separate post, which you'll find after the jump.

Continue reading "Can Coastal Property Owners Find Insurance?" »

Posted by Megan Mahan at 09:41 AM | Permalink | Comments (1)
 

The fourth annual Cover the Uninsured Week is here!

Sponsored by the Robert Wood Johnson Foundation, Cover the Uninsured Week is part of a non-partisan, nationwide effort to put health coverage in America on the front burner. Thousands of activities for Cover the Uninsured Week will take place all across the country through May 7, including health enrollment fairs.

Health enrollment fairs will host a variety of screenings, such as those for diabetes and breast cancer, as well as educational sessions on HIV/AIDS, nutrition and fitness and home health care (just to name a select few).

To see what's happening near you, go to CoverTheUninsured.org and check out the 2006 event calendar.

Already have health insurance? You can still join the Robert Wood Johnson Foundation's efforts to put the spotlight on America's uninsured and:

1. Contact your elected officials [letter templates can also be found here]


2. Spread the word to friends and family members


3. Get involved in activities near you

Head over to CoverTheUninsured.org for more information on activities and what you can do to help. The website is easy to use—I just spread the word to five people in one minute. Wonderful.

Posted by Megan Mahan at 04:39 PM | Permalink
 

Unfortunate news out of Georgia today: two insurance agents in Gainesville, Ga. have been charged with fraud after they kept roughly $56,000 from clients rather than turning the premium dollars over to their contracted insurance companies.

One of the agents, who kept approximately $20,000 in premium dollars, was also allegedly selling insurance policies without a valid insurance license.

The story, courtesy of the Insurance Journal, points to one of the most avoidable forms of insurance fraud. And, lucky for us consumers, there are plenty of resources available to help us avoid being scammed by shady agents.

Your state Department of Insurance (DOI) is a great resource that tends to be overlooked by consumers. The DOI keeps track of insurance companies and agents in your state, particularly when it comes to correct licensure. You can call the DOI or visit them online to make sure your agent is licensed to sell insurance policies.

Other consumer resources include insurance rating companies like AM Best and Weiss Ratings, which allow you go online and check the customer service rating and financial solidity of most insurers. The customer service rating will reflect things such as consumer complaints and larger legal issues like fraud—which may dissuade you from buying a policy from the insurer.

Remember, both of these resources are available online, so be sure to take advantage of these easy-to-use sites. Making sure you're dealing with a reputable insurance company and licensed agent may seem like a hassle but it can save you heartache and financial stress down the line.

[Additional resources]:

• State DOI's listed by phone number and website


• The National Insurance Crime Bureau (NICB)


• The Insurance Information Institute

Posted by Megan Mahan at 02:02 PM | Permalink
 

Think your flood insurance coverage is a little wimpy? You might be right—especially when compared to the new Personal Flood Insurance that's been rolled out by the Chubb Group of Insurance Companies.

The new Chubb policy can provide up to $15 million in property coverage—a stark contrast to the National Flood Insurance Program's (NFIP) flood coverage, which offers a maximum of $250,000 for homes and $100,000 for contents. Chubb Personal Flood Insurance also pays the replacement costs to repair or rebuild your home and replace its contents, up to the limits you select. The NFIP typically settles claims on a cash value basis, which means that the NFIP considers the depreciation in value of your house and contents when they pay out your flood insurance claim.

Continue reading "New Flood Insurance Policy Provides up to $15 Million in Coverage" »

Posted by Megan Mahan at 09:46 AM | Permalink