Saturday 16 July 2011

How to Shop Around for the Lowest Auto Insurance Rate

             How to shop Around for the Lowest Auto Insurance Rate





One of the ways to save money in your budget is to shop around for the lowest auto insurance rate. When you get the best price on auto insurance coverage, you are able to save money every month, or every six months, depending on your policy. However, you need to make sure you are shopping effectively. Here are some things to keep in mind as you compare your auto insurance options:

Actual Coverage

Sometimes, you see that one company is offering a price quote that is much lower than another. Whether you are looking for an online insurance quote, or are calling around to different agents, you might find a startling difference in price. Before you get too excited about a low rate, you should be sure that you are comparing apples to apples.
Make sure you understand what is actually covered so you can compare policies that are truly similar. This means that they should have similar coverage amounts for the same items. You don’t want to compare a policy with comprehensive coverage to one that has liability coverage only if that is something you are looking for.
You should also look at the other items that might be covered, including windshield replacement, car rental and towing. Sometimes a policy seems cheaper because it doesn’t have these coverages, and you are comparing it a policy that does.

Discounts

Don’t forget to find out about discounts for things like having good grades (usually for teenagers and college students on your policy), having more than one vehicle and having other types of insurance, like homeowners/renters and life, with the same company. Ask about discounts for remaining claim-free, as well as discounts for having good credit.
Compare the possibilities between different policies. In some cases, a policy that looks slightly more expensive on the surface turns out to be less expensive, due to discounts or bonus programs. You can also look for companies that offer a partial premium refund when you are claim-free for a certain period of time.

Service

Of course, if you are not happy with the service provided by the insurance company, no amount of money saved might be worth it. You should do a little background research on the top companies you are interested in. Check the Better Business Bureau for unresolved complaints. Most insurance companies are going to have complaints against them, but you can find out a lot by the types of complaints there are. You can also tell something about a company by the help you receive as you shop around.
Look for a company that provides reasonably good customer service, as well. You want to find a company that offers a 24-hour claim line so that you can speak with someone anytime you need. You should also find out about the claims process so that you understand it. Even if you get quotes online, try to talk to an agent so that you can gauge how friendly and helpful the company is. If you are going to forge a long-term relationship, it might be worth it to pay a little bit more for superior service.

2010 U.S. Auto Thefts Lowest in 43 Years

     2010 U.S Auto Thefts lowest in 43 years



A report released this week by the National Insurance Crime Bureau (NICB) revealed U.S. vehicle thefts dropped to the lowest level since 1967. The decline in thefts represented the seventh straight year that thieves were deterred from or failed to steal vehicles.

257 Urban Areas Report Fewer Thefts

The NICB released preliminary figures this week that showed thefts probably declined 7.2 percent last year from 794,616 in 2009. According to the non-profit trade group, 257 urban areas reported fewer thefts in 2010.
Declines in specific cities include:
  • 1.9 percent decline in New York City area (including northern New Jersey and Long Island) to 29,189
  • 14.5 percent decline in Dallas to 21,963
  • State College, Pa. had the lowest rate with 46 thefts–or 30 per 100,000 people
Other areas with decreases in thefts included Detroit, Los Angeles and Miami.

Enhanced Security Devices, Bait Cars and Insurance Discounts Decrease Auto Theft

While the decrease in auto thefts is encouraging, it is not a surprise to experts. The NICB and other insurance groups say there are a number of reasons for the declines:
  • Better security devices: More cars come with built-in security devices installed by manufacturers, including tracking devices and ignition disablers that make them more difficult to steal successfully.
  • Insurance companies offer discounts: Drivers are now being encouraged to use anti-theft devices by auto insurance companies that offer discounts. This has resulted in an increase in drivers installing their own security features.
  • Increase in bait programs: The NICB says law enforcement in different states are also using more “bait programs” in which officers leave cars unlocked with the keys in the ignition to tempt thieves. These programs have reported helped to reduce thefts significantly.
The adjustments made by automakers, insurance companies and law enforcement collectively have had a huge impact on thefts in the U.S. But experts say that in addition to their efforts, the easiest way to protect your car from theft is to simply lock your doors.

Nation’s Most Dangerous Roads for Car Accidents

      Nation's Most Dangerous Roads for Car Accident







The chances of getting into a car accident on any road in the United States are high for all drivers. According to the National Highway Traffic Safety Administration, the average American has a 30 percent chance of being involved in a serious auto accident in their lifetime. But it becomes even more difficult to avoid a serious accident when traveling roads that have a history of accidents.
If you are excited about traveling this summer, you probably want to have a safe trip that doesn’t require a call to your auto insurance company. To increase your chances of a pleasant journey, make note of roadways noted by MSN that will require your full attention while driving as they are considered among the top 10 dangerous roadsand highways in the United States.
1. Colorado 550 from Ouray to Silverton
This two-lane stretch of highway in southern Colorado is known for being extremely dangerous due to its S-curves that wind through three San Juan Mountains passes. But what makes the stretch even more dangerous is wildlife migration and deer hunting in late fall that push thousands of animals to move across the highway. Did we mention this highway also passes through an avalanche zone?
One thing is for sure. If you’re traveling through this stretch, it’s important to keep your eyes on the road and carry good comprehensive insurance.
2. New York, I-95, Cross-Bronx Expressway
According to MSN, the Cross Bronx is known as one of the worst traffic bottlenecks in the nation. A study was conducted by researchers at INRIX in 2008 that found the 1-95 corridor flowing in and out of New York City to be more dangerous because tractor-trailers drive at rapid speeds down this stretch—tire-to-tire with cars. The danger comes from tons of potholes, a lack of shoulders and speed-crazed drivers.
3. Nevada I-15
The stretch of 1-15 between Nevada and California is known to be among the most dangerous in the United States. In a nine-year time frame, 173 people lost their lives, mostly by going too fast on a road that is already challenging to navigate.
It consists of 125 miles of desert terrain and a particularly intimidating climb through a 4,000-foot pass southeast of Las Vegas. Some people enjoy speeding through this area for thrills, causing accidents that can, of course, be life threatening.
4. Louisiana, Interstate 10
Interstate 10 in Louisiana crosses the southern part of the state and passes through New Orleans. Because much of this stretch was washed away by Hurricanes Katrina and Rita, some of the road has never been fully repaired, which is why, as you’re driving, it’s good to take heed to the pavement buckling as the soil shifts, as well as tons of potholes.
5. Atlanta I-285 at I-85 Interchange (Spaghetti Junction)
This web of highway in Atlanta makes the list of most dangerous roads in America because of the confusion it creates. I-285 and I-85 create a junction that is a five-level interchange with multiple ramps and smaller roads that feed into it.
Because of the confusion caused by this junction, The American Highway Users Alliance gave it a grade of F, indicating that its stop-and-go traffic causes 133,000 hours of traffic delays each year. But the time factor becomes a smaller issue in the winter when rain and freezing temperatures make this interchange resemble a skating rink—and cause tons of accidents.
6. Maine Highway 1
The two lane stretch of Maine Highway 1 is indeed one of the most dangerous roads to travel in the U.S., largely due to the heavy moose population in the northern reaches of the state and their tendency to roam the road.
Currently, Maine has the highest fatality rate on rural roads of any state in the country, partially thanks to the moose who are hard to see at night because they’re eyes aren’t reflected in headlights. Also, in the summer time, the roadside blueberry stands and other attractions seem to catch tourists’ eyes while driving, causing more accidents than the norm.
7. Los Angeles 101 to 1-405 Interchange
Freeways 101 and 405 in Los Angeles, which link the east side of the city to the downtown area is known as a dangerous stretch because drivers spend so much time riding bumper-to-bumper.
Stats show that an average of 318,000 drivers use this juncture every day, which means you are bound to be stuck in traffic for a while. This is indeed a formula for dangerous conditions as drivers get road rage and others may pay little attention and find themselves in fender benders.
8. San Diego, I-5
Because of Mexico, which is right beneath SoCal, allows U.S. minors to drink at the age of 18, you’ll find a lot of college students driving this stretch for a little weekend fun and returning  inebriated.
Believe it or not, 10,000 to 15,000 people are arrested committing DUIs in San Diego County each year. Seeing that 32 percent of fatal car crashes are the result of individuals driving under the influence, it’s smart to drive with caution down this stretch, especially on the weekends.
9. Chicago Circle Interchange
This highway interchange was built in downtown Chicago in the 1950s as a way to link 1-94, 1-90 and 1-290. At the time, there weren’t nearly as many vehicles on the road, so it provided a pleasant way for commuters to navigate through the city.
But several decades later, the city’s population increased considerably, making the single-lane, circular on-ramps no longer conducive to 25 mile-per-hour traffic. The average traffic delays, thanks to this interchange, are 90 minutes, leaving many drivers frustrated and the danger of accidents high.
10. Providence, Rhode Island (I-95 at the I-195 Interchange)
This interchange, similar to Chicago’s, was built in the 1950s; however, it was created as a way to help drivers follow routes that already existed in and around the Providence area. Safety was compromised in the creation of this interchange due to short on- and off-ramps and sharp curves that contribute to frequent accidents and traffic jams. As a result, it is considered one of America’s worst bottlenecks.
Unfortunately, many of the roads and highways that are considered the most dangerous routes are difficult to avoid for most drivers in the area. So if you must take these routes in your commute, be sure to carry liability insurance, as well as comprehensive and collision insurance so that you’re financially prepared for the hazardous conditions you could face.
Stacey Bumpus started writing as a youngster, creating little fun newsletters to distribute to her elementary school friends. But it wasn’t until she completed her bachelors and masters degrees in communication that she realized her fun pastime could become a career.
After spending years in corporate communications, she discovered that freelancing was her cup of tea and fell in love with finding the latest financial news. Now, providing news and tips about taxes, mortgages, banking and even logging her efforts to save toward retirement, she’s not only fulfilling her childhood passion, but also helping others manage their finances responsibly.

General Motors to Offer Select New Customers Free Auto Insurance

   General Motors to offer Select New Customers Free Auto Insurance



Auto manufacturer General Motors announced this week that it will be starting a pilot program that offers car buyers one year of free auto insurance. Currently, the new incentive program, offered through MetLife Auto and Home, will only be provided to customers in the Pacific Northwest.

Customers Must Purchase New Model-Year Vehicles

In its announcement, General Motors stated customers who purchase a new 2010, 2011 or 2012 model-year vehicle from one of its dealers in Oregon and Washington will also receive a yearlong insurance policy from the manufacturer.
According to MetLife, the policy will cover the vehicle and anyone who drives it with the owner’s permission, starting on the date of purchase. The insurance will last for an entire year as long as the buyer still owns the car during that time.
G.M. noted the insurance can be bundled with other deals as well, including incentives to lower the cost of the vehicle. The insurance incentive program is set to expire on Sept. 6.

Sales Have Been Slow in the Pacific Northwest

General Motors stated that its reason for offering this unique incentive program is that auto sales have not rebound in the Pacific Northwest as they have in the Midwest and other areas. In Portland and Seattle in particular, buyers are said to be more loyal to foreign brands.
G.M. says it hopes the incentive will appeal to family households, especially those with teenagers who are beginning to drive and may have to pay higher insurance costs with a separate company. Also, the fact that a car totaled in the first year or first 15,000 miles (whichever comes first) would be repaired or replaced by MetLife without deducting for depreciation could be particularly appealing.
So far, the automaker doesn’t plan to offer the deal anywhere outside of the Pacific Northwest. However, it plans to see how it resonates with customers who take advantage of it. If it is successful, the program may be introduced nationwide.

Worst Cities for Towing Increase Costs Associated with Auto Insurance

      worst Cities for towing Increase Cost Associated with Auto Insurance





A new survey released by the Property Casualty Insurers Association of America (PCI) revealed that five cities are worse than others when it comes to aggressive towing practices. it was also revealed that these aggressive towing practices are often associated with drivers paying more in expenses related to auto insurance.

Cities with Worst Towing Practices

According to the PCI, a number of cities are notoriously worse than others when it comes to their towing practices. The survey found that the worst cities in the nation are:
  • Chicago, Ill.
  • Philadelphia, Pa.
  • New York, NY
  • Atlanta, Ga.
  • Houston, Texas
The PCI also listed the five worst states for aggressive towing, which included Illinois, Pennsylvania, New York, New Jersey and California.

Effect on Auto Insurance

Some of the issues arising from aggressive towing practices, according to the survey, include the following:
  • High towing and storage charges and miscellaneous charges like “helper fees” and “wait time fees”
  • Inconsistent and difficult release processes
  • Lack of transparency and communication from towing companies
  • Failed access to vehicle for adjustors
According to the PCI, these unsatisfactory practices by towing companies are not only causing frustration and confusion, but are also increasing out-of-pocket expenses for policy holders as well as charges for insurers, in turn affecting the auto insurance costs consumers pay.
Because the towing companies are often charging monstrous amounts for towing and storage costs (ex. an insurer’s bill for a vehicle in Iowa that was towed seven miles with no storage time was $892, according to the survey) and insurance companies sometimes foot the bill, the costs are trickling down to the policyholder.
The National Insurance Crime Bureau report that claims of inflated towing and storage bills increased by 57 percent since 2009. Unfortunately, it’s difficult to research the reputation of a towing company when in need of immediate help, which is why it’s good to conduct research ahead of time in hopes of working with a reasonable company when you need them most.

Medicare and Medicaid Fraud Conducted by Criminals Posing as Pharmacies

 Medicare and Medicaid Fraud Conducted by criminals posing as pharmacies



Criminal enterprises are stealing millions from the health care system as they pose as pharmacies. federal officials say these so-called “phantom pharmacies” are billing Medicare, Medicaid and private insurance companies for fake prescriptions.

Pharmacy Scams Getting Out of Control

According to the Department of Health and Human Services (HHS), the scams are growing by the day. Shimon Richmond, a field agent with the HHS told CNN Money that the scams are “a huge issue for the department.”
While the department isn’t clear exactly how much money is being drained from the health care system as a result of the phantom pharmacy schemes, it says taxpayers and the health insurance industry as a whole are losing more than $60 billion a year.
Unfortunately, this increase in fraud is also contributing to rising health care costs, says the HHS.

How the Scam Works

According to experts, here’s how the scheme typically works:
  1. Criminals use a legitimate address to establish a fake pharmacy business.
  2. Using stolen doctor ID and patient insurance ID numbers, the scam artists will write fraudulent prescriptions for expensive drugs that were never prescribed or dispensed.
  3. They submit the fake prescriptions for reimbursements to insurance companies like Medicare or Medicaid for large returns. A fake pharmacy can rake in anywhere from $2,000 to $8,000 in a single claim.
The HHS is pursuing hundreds of phantom pharmacy cases, but is having a tough time cracking down because the pharmacies operate quickly and quietly. The entire span of their operation could run in as little as 60 days before disappearing and popping up again somewhere else under a new address.
Regulators also say that because Medicare requires pharmacies to be reimbursed quickly, fake claims are often paid out before they’re validated. They say there are just not enough law enforcement officials to stop it all.
With the scam artists being extremely clever–and often receiving the help of trained health-care professionals who want in on the money–the HHS says its fight against phantom pharmacies is likely to be an uphill battle for years.




Man Robs Bank for $1 to Receive Medical Care in Jail

      Man Robs Bank for 1$ to Receive Medical Care In jail



A man so desperate for medical care that he was willing to rob a bank to go to jail is finally getting his wish this week: A doctor’s appointment. The 59-year old North Carolina convenience store clerk said his bank robbery of a mere $1 was his attempt to get the medical treatment he hadn’t been able to receive via the traditional route.

Man Desperate for Medical Treatment

James Richard Verone was not like most bank robbers who hide their faces, tote assault weapons and rush tellers to fill bags with money in hopes of making a quick escape. Verone casually walked into a Gaston, N.C. bank unarmed, handed the cashier a note demanding $1 then sat down and waited for police to show up.
His robbery attempt came with only one goal: Jail time for medical treatment.
After losing the job he’d held for 17 years as a Coca Cola deliveryman during the financial crisis and eventually taking a part-time position at the convenience store, he realized his medical problems–which included back and foot issues, carpal tunnel syndrome and arthritis–prevented him from doing his work effectively.
Then he noticed a protrusion on his chest that brought with it pain he said he couldn’t tolerate. Having no health insurance, he was unable to get the help he needed, so he decided to take matters into his own hands.

Verone Says Treatment in Jail Is Easier to Come By

On June 9, Verone mailed a letter to the Gaston Gazette, telling the newspaper of his plans to rob the bank. He listed his forwarding address as the Gaston County Jail. Then he hailed a cab to take him to RBC Bank where he handed the teller his $1 demand on paper and waited for the police to arrive.
He was indeed taken to jail and charged with larceny instead of bank robbery since he only attempted to “steal” $1. But the initial punishment landed him enough time to make an appointment with the jail doctor for Friday.
Verone’s original bond was set for $100,000 then was reduced to $2,000, but he doesn’t plan to pay it. He hopes to stay in jail for a few years and even plans to tell the judge that he will commit the crime again if his punishment isn’t severe enough. He explained that choosing jail was just the best of a bunch of bad options and he has no regrets.
He hopes before his sentence is complete that he will receive back and foot surgery and get the protrusion on his chest treated. When he is eventually released, he wants to collect Social Security and move to the beach.