Tag Archives: Company

Insurance Company Complaints – Who Are the Top 10 Companies With the Least Number of Complaints?

Posted on by
Reply

The New York State Department of Insurance (DOI) just released the 2008 Annual Ranking of Automobile Insurance Complaints. The report has been issued to help consumers find the automobile insurer that best meets their needs. You can use this report to compare the ranking of the insurance company you are doing business with now, or check another company you may be considering.

This report analyzed data collected from 2006 and 2007. It only ranks companies doing business in the State of New York. However, as New York is a heavily populated state, with both big urban centers and big suburban areas, the report can be considered a good representation of insurance company performance nationwide.

How The Ranking Works

The insurance companies are ranked on a complaint ratio. The ratio is calculated by the number of complaints upheld against companies as a percentage of their total private passenger auto business.

Insurers with the fewest upheld complaints per million dollars of premiums are shown at the top of the list. The companies with the highest ratio of complaints are ranked at the bottom.

Other Information to Consider

The ranking of an insurance company is important, but it is only one characteristic that consumers should weigh when considering doing business with an insurance company. Others are:

o Referrals from friends, relatives, neighbors or co-workers about the experiences they had with their insurance companies

o Price of the premium versus perceived value

o Search the Internet for other ideas

o Check your state’s DOI website, which may contain valuable consumer information about companies doing business in your state.

What The Ranking Does and Does Not Contain

o Private passenger insurance is the only type evaluated.

o It only includes the complaints referred by consumers to the DOI. It does not include complaints made directly to the insurance companies.

o Complaints are “upheld” when the DOI agrees with a consumer that an insurance company made an inappropriate decision.

o Information from prior years is included in the tables so consumers can see if the company has improved or gotten worse.

o All companies with at least $10 million in premium in 2006 and 2007 are included in the ranking. Insurers with less than $10 million were included if they had 10 or more complaints against them.

Top Three Most Common Complaints

1. Monetary settlements – settlement amount is too low.

2. Policy terminations

3. Promptness of insurance payments

2007 Auto Complaint Listing (ranked lowest number at top, higher as you go down)

1. Mercury General Group

2. American Express, Amex Assurance, IDS Property Casualty

3. Eveready Insurance Co.

4. Electric Insurance Group

5. Amica Mutual

6. Preferred Mutual Insurance Co.

7. United Services Automobile Assurance Group (USAA)

8. Chubb

9. Utica Mutual

10. State F*arm

11. Central Services Group, Central Insurance Group, NY Central Mutual Fire Ins.

12. Main Street America Group, National Grange Mutual

13. Progressive

14. Liberty Mutual

15. Kingsway Insurance Group, Lincoln General Ins.

16. Response Insurance Group

17. Nationwide Insurance

18. American Modern Ins. Group, American Family Home Ins.

19. St. Paul Travelers

20. Unitrin Group, Kemper

21. Erie Insurance Group

22. Berkshire Hathaway Insurance, GEICO

23. Allstate Insurance

24. The Hartford Insurance Group

25. Hanover Insurance, Citizens Ins., Allmerica Financial Alliance

26. Metropolitan Group

27. American National Financial Group

28. Allianz Insurance Group

29. GMAC, Integon, MIC P&C, National General Ins. Co.

30. Zurich Ins.Group, Foremost, Maryland Casualty

31. Hannover RE Group, Clarendon National

32. State Wide Insurance

33. White Mountains Group, OneBeacon, Esurance, Auto One Ins.

34. Countrywide Insurance

35. Safeco Insurance Group

36. American International Group (AIG)

37. Tri-State Consumer Ins. Group

38. Interboro Mutual

39. Infinity Property & Casualty

40. Long Island Insurance

Conclusion

If your auto insurance provider is not shown on this list, it could be that they don’t sell insurance in New York. Or, it could be that their number of complaints is worse than the company in the #40 position!!

Think about this statement, my friends.

The only thing that truly matters about your auto insurance is what happens when you submit a claim. Claims are about KEEPING PROMISES. When the insurance companies don’t keep their promises, the complaints pile up!

So, why would you EVER consider doing business with any insurance company LOWER than NUMBER 10 on the list?

If you are one of the unfortunate people who experience an automobile loss of any kind, you’ll need to know how to handle your insurance claim so that you maximize your recovery. I’ll even be so bold as to say this: If you do not use the strategies for submitting a claim found in my book, you will not collect all the money you are entitled to collect. You will need to know how to take control of your insurance claim, and add hundreds or even thousands more dollars to your claim settlement. For more information, check out the website shown below in the Resource Box.

About this Author

Now, I’d like to offer you two special reports at no cost. One is “5 Things To Do When Shopping For Car Insurance,” and the other is “5 Things To Avoid When Shopping For Car Insurance.” Each one is a $9.95 value, but free to you when you sign up for my newsletter at the website address below.

P.S. WARNING!! Do Not Buy Insurance, or Submit an Insurance Claim Without Visiting This Website!

check out: http://www.insurance-claim-secrets.com

My Book is NUMBER ONE at Amazon.com in its category! Buy it Today!

Nominated for Georgia Author of the Year Award 2008

Finalist, USA Book News “Best Book Awards 2008″

My blog is at: http://insurance-claim-secrets.blogspot.com

How To Get Even With Your Car Insurance Company In 10 Easy Steps – Part 2

Posted on by
Reply

In Part 1, we detailed the first five strategies on how to cut your car insurance costs. In Part 2, we show you the second five.

STEP 6 – Review, Change or Cancel No Fault & PIP (Personal Injury Protection)

No-Fault Coverage, and it’s Twin – PIP – started out as great idea’s. Your premiums were actually going to be lowered. Then, your State Politicians got involved (at the urging of Insurance Lobbyists, of course) and mucked it up.

You see, no-fault insurance coverage was originally intended to have each individual’s losses, covered by their own car insurance company – no matter who was at fault.

Today, in many States, car insurance companies are making a ton of money on no-fault because the insurance companies convinced State law-makers to make “modifications.”

Today, because of the these changes, car insurance companies have actually used the no-fault laws to reduce payments on a claim made by a customer, instead of reducing car insurance premiums as it was supposed to do.

So, premiums keep going up-and-up and insurance companies end up paying less for claims – Someone’s getting rich on that deal….and it’s not you.

And to make matters worse, some States (with really, really talented Insurance Lobbyist’s) also require an additional premium be paid on top of the no-fault premium. This beauty is called Personal Injury Protection (PIP).

PIP is a “wide-blanket” of coverage and can provide Collision Coverage, Hospitalization, Social Security Disability, Workers Comp, Personal Disability Insurance & Life Insurance.

The problem with PIP and what it covers is….

You already gave most, if not all, of these coverage’s anyway, don’t you? So, you’re paying twice!

So, you need to do a couple of things:

Google “minimum levels of required auto insurance” to see if No-Fault Insurance and/or PIP Is required in your State;

Then, check your policy. If it’s not required by your State to have No-Fault/PIP Coverage and it’s on your policy – cancel it. If No-Fault/PIP is required by your State….take the absolute minimum. Here’s how.

If you must have No-Fault/PIP, ask for and get a deductible from your car insurance company.

STEP 7 – Cancel Medical Coverage.

Medical Coverage, on most car insurance policies, is a promise to pay “reasonable” medical expenses for anyone who is riding in your car should you have an accident…as well as anyone in your car should it get hit by someone else.

Cancel it. You don’t need it.

Why is that you say? Well, medical coverage as part of your car insurance policy is a duplicate of your own:

- Medical Plan; – Any Life Insurance Coverage you might have, as well as; – The Liability Sections of almost every car insurance policy written in the U.S.

Think of it this way….Do you have a Health/Medical/Hospitalization Plan through work or an Association you belong to?

Then why are you paying premiums for Medical/Hospitalization Coverage on your Car Insurance Policy?

Here’s what’s going to happen when you tell the car insurance company or Agent that you “Don’t want the Hospitalization/Medical Coverage.” You’re going to hear very slick “scare tactics” to help change your mind.

The insurance company employee will say “Well, if you’re in an accident, and it’s your fault, who’s going to cover the medical bills for any injured passengers in your car?”

Here’s your answer. Your family is already covered by your Health/Hospitalization Plan. If anybody else is in the car and they’re injured – they’re covered by your Bodily Injury Liability coverage that you’re already paying for….and their own Health/Hospitalization Plan.

So go ahead – save some more money and get rid of this coverage.

STEP 8 – Cancel Death, Dismemberment & Loss of Sight.

Do you have any of these coverage’s on your existing car insurance policy? If so – cancel them.

And if you’re a first time car insurance buyer or, just looking at getting several car insurance quotes, don’t let anyone talk you into them!

Why?

Because, these coverage’s are an absolute waste of money. Most of these optional coverage’s are simply “glorified” life insurance policies with ridiculous provisions and horribly overpriced premiums. If you need life insurance, make it a separate Insurance Policy.

STEP 9 – Cancel The Extras

Do you have “Roadside Assistance” or “Rental Car Reimbursement” on your policy? If so, cancel them.

And again, if you’re a first time insurance buyer or getting a few car insurance quotes, don’t bother with these coverage’s.

Why? Because they’re severely overpriced, are rarely ever used, and limit what you can and cannot do.

For instance, some rental car reimbursement” coverage is almost $100 a year for each vehicle on your policy. So if you have two cars, you’ll spend almost $2,000 on rental car coverage in the next 10 years – and likely never even use it.

And roadside assistance? The piece-of-mind it offers gets trampled by the premiums the car insurance companies want for this coverage. Roadside assistance is a good idea. But use AAA for a cheaper solution.

STEP 10 – Terminate Comprehensive & Collision Coverage On Older Cars.

If you have an older car – by that I mean one that’s worth less than $2,000 wholesale (the amount a car dealer would give you if you were trading it in) cancel any Comprehensive and Collision Coverage you have or decline that option when getting a car insurance quote.

Here’s why. If an 8 year-old car and a brand new car have identical damage, the cost to repair both will be identical as well, even though the 8 year-old car is worth next-to-nothing.

You see the cost of a bumper and fender are the same – whether it’s for a brand new car, or one that is 8 years-old. That’s why your premiums don’t go down as the value of the car goes down. Your payments remain almost the same, year-after-year-after-year.

But, the bottom drops-out of what you’ll be able to collect on that older car. For instance, if your car is “totaled”, your insurance company will only pay you the wholesale value of your car.

So, let’s say your car is worth $1,000, but the total damage is more than $4,000, the insurance company is only going to give you a check for $1,000….minus your deductible, of course.

So you might end up getting $500 back. Sounds like a lousy deal….but that’s how it works.

So, the rule-of-thumb is this – cancel your comp & collision coverage when your vehicles value is less than $2,000….or you’ll be throwing your money away.

Okay – you’ve jotted down some notes and are ready to make some changes to your car insurance policy. So pick up the phone and start slashing your premiums!

About this Author

Tom O’Leary is an Automotive Portfolio Analyst based in Cincinnati, Ohio and Publisher of http://www.mynewcarpurchase.com, a consumer focused web site that assists with buying a new or used car, cheap car insurance quotes and finding cheaper car & truck financing.

What Do to When Your Insurance Company Denies Your Claim

Posted on by
Reply

A determination by your insurance company that you are not covered is not the final word, but only the beginning of a process for you to obtain the insurance coverage which you purchased. Upon further investigation, facts may come to light which may cause the insurance company to re-evaluate its position and provide coverage.

Also, if suit is necessary, the courts may find that you are covered by your insurance policy when your insurer says you are not covered.

The realities of insurance

Whether you are a business that purchased a commercial general liability insurance policy or an individual who purchases a homeowner’s policy or a life insurance policy, “peace of mind” was probably a big selling point made by the selling insurance agent. In return for payment of money to the insurance company today, the insurance provider promises that it will be there for you in the future should you suffer a loss.

Unfortunately, many find that after having consistently paid their premiums, an insurance provider denies their claim when they call upon their insurance company for the coverage promised in the insurance policy. In many cases, the one who determines and advises you that your insurance policy does not provide coverage is not an attorney, but a claims adjuster without knowledge of Louisiana insurance law.

Should your insurance company deny you coverage, you should seek the advice of an attorney familiar with the interpretation of insurance policy language.

When doing so, you are obtaining the opinion of a person trained in insurance law and not employed by the insurance company. If your attorney’s opinion is that you are entitled to coverage, the denial of your claim is the beginning of your claim’s process, not the end.

Why insurers and the insured always seem to be at odds

As an insurance company is a business, and a goal of a business is to make a profit, it is understandable that an insurance company has a bias towards denying insurance coverage. However, this bias may not be the only reason for an insurance company denying coverage to its insured.

At the time that you prepare and submit your claim to your insurance company, you may not know all of the facts and the insurance adjuster may not know all of the facts particular to your situation. In this situation, an attorney can review the insurance provisions, discover the relevant facts that trigger coverage and transmit these facts to the insurance adjuster for a re-determination of coverage.

When problems with claims persist

If the adjuster continues to deny coverage in the face of the newly presented facts, your attorney will be able to further pursue and protect your interests by filing suit against the insurance company. In this suit, your attorney will ask the court to declare that you have coverage under your policy.

In some situations it is not the lack of knowledge of certain facts which cause the insurance adjuster to deny coverage, but the policy language as the policy language relevant to your claim may have acquired a legal meaning which is not apparent to the layman or the insurance adjuster upon reading of the policy. Again, your attorney will be able to explain to the insurance adjuster the legal meaning and ramifications of the policy language and how that meaning entitles you to coverage.

Should the adjuster continue to deny coverage in the face of such law, your attorney will be able to further pursue your interest by filing suit against the insurance company asking the court to determine that you are covered by your policy.

The above situations may be best explained by real life examples:

Family #1 – Accidental Death Claim

In a claim for accidental life insurance policy proceeds, an insurance company denied the claims of a parent for the death of their child, when that child died after losing control of a car he was driving. Scientific examination of blood samples showed trace amounts of a prescriptive medicine, a medicine which was not prescribed to the child.

The insurance company denied the claim upon the basis that the child was under the influence of a controlled substance, and coverage for such was excluded by the policy. The parents hired an attorney who reviewed the policy, reviewed the chemical analysis and obtained information from a forensic pathologist about the chemical analysis. The attorney’s efforts proved that the amount of the controlled substance that appeared in the chemical analysis was the minimum amount which could be registered by the test, and that a test reading of this amount could mean that there was none of the controlled substance in the child’s bloodstream.

End result -

Upon being presented with this information, the insurance company reversed its position, provided coverage, and paid the full amount of the accidental life insurance proceeds to the parents. This is an example where facts relevant to coverage where not apparent to the policy holder and the adjuster. An experienced attorney was required to discover the relevant facts and present them to the insurance company.

Family #2 – Life Insurance Disputes

In another situation, an insured was delivered an insurance policy while in the hospital. The insured was diagnosed with a terminal illness during this hospital stay and died soon after. The insurance company denied coverage claiming that the insured knew of the presence of this disease prior to delivery of the life insurance policy. The insured’s surviving spouse obtained the services of an attorney and suit was filed.

End result-

This attorney conducted a thorough and exhaustive research of the deceased’s medical records. This attorney discovered that the only evidence of the deceased having knowledge of a terminal illness occurred within one day after the life insurance policy was delivered. The attorney presented this information to the insurance company and the insurance company settled the law suit by paying benefits to the surviving spouse.

Business Scenario – Lawsuit protection

In another situation, a commercial business was sued for libel and slander. That commercial business had purchased a comprehensive general liability policy which provided coverage for attorney’s fees and court costs in defending this claim. The insurer refused to provide coverage.

The business hired an attorney to defend the business in the libel and slander suit. That same attorney then sued the insurance company for reimbursement of the insured’s attorney’s fees and court costs incurred in defense of the libel and slander suit.

End result-

The result of this suit was that the court found that the insurance policy sold to the business provided coverage for a cost of defense and that the insurance company owed reimbursement to the business for the attorney’s fees and costs it incurred in defending the suit. Interestingly, the insurance company owed this “cost of defense” whether the business won or lost the libel and slander suit filed against it.

There are many more examples in the law books where an insurance company denied insurance coverage to its insured, only to later be found by the courts to have provided coverage to its insured. Each case is different, and each case must be carefully examined.

About this Author

Just because your insurance company tells you that you are not covered does not mean that is the final verdict. When this occurs, you should seek the services of an experienced insurance attorney who is well versed in insurance law to examine your policy and the facts of your particular case as you may end up having coverage when all is said and done. The New Orleans law firm of Greenberg and LaPeyronnie can help in such cases.

California Car Insurance Company

Posted on by
Reply

Every California car insurance company works under the direction of California Department of Insurance [CDI]. The CDI regulates and audits the insurance business to ensure that the company run successfully and cater to the needs of the customers.

California car insurance companies provide the best, secured and reliable car insurance policies to the people of California. Every company grooms a team of experts and insurance professionals who help the customers in every step of acquiring car insurance policies. Californians can avail the services of each California car insurance company through 24/7 customer service. Moreover, the car insurances rates of these companies are reliable and quite competitive. These company professionals offer customer-friendly help and make complex things simple for all California car insurance customers.

How your insurance rates are set by the California car insurance company

The California car insurance company sets California car insurance rates by the behavior of the state’s drivers as a whole. The cost of insuring California car drivers includes settlements and legal fees, which the California car insurance company divides up between everyone. However, the percentage paid by the insurer (driver) depends on the driving record, age, type of car and place where the insurer lives.

Some major California car insurance companies

Following are some of the famous California car insurance companies that offer a variety of car insurance policies to the motorists of California:

GMAC Insurance – It is the only company that offers you with the following criteria:

Your vehicle is repaired with original equipment manufacturer parts, not aftermarket parts.

You’ll be truly satisfied with the quality of your claims service.

You are qualified for ample discount opportunities if you’re a customer of certain GMAC companies.

21st Century Insurance – This California car insurance company offers personal automobile and motorcycle insurance in California. The company receives its business through referrals from current policyholders. The average annual renewal rate of existing policyholders is over 93%. New customers report average savings of $300 on car insurance.

GEICO – GEICO is the 4th largest private-passenger car insurance company California. GEICO offers attractive car insurance and motorcycle insurance policies for Californians.

All California insurance auto companies are regulated by the California Department of Insurance. This ensures that each company will provide fair rates and quality customer care.

About this Author

Richard Cunningham is a successful entrepreneur and publisher of several profitable websites on Auto Insurance Quotes and Home Insurance [http://www.homeownerinsurancequoteranger.com].

AmerUS Life Insurance Company Review

Posted on by
Reply

AmerUS Life Insurance Company has been a leading provider in life insurance policies in the United States. Their main website lets customers know that the company started in the year 1896 when it was founded as a Central Life Assurance Company. Although the company itself did not grow much from the start, through the span of the years it got the people needed to operate correctly and be successful at becoming a primary life insurance company in the United States. It was not until the year 1996 that the company actually acquired the name AmerUS Life Insurance Company and at that time they actually started to organize as a stock insurance company.

Things continue to grow and after the year 2000 they acquired Indianapolis Life Insurance and finally closed the year with an estimated $21.5 billion in assets. The big news about AmerUS took place in the year 2006 where AmerUS and Aviva Corporation signed an agreement under which Aviva acquired them and paid $69 per share in cash. This meant that all their operations would be combined and the business would have their headquarters in Des Moines, Iowa.

Life insurance in the United States is just starting to be a big thing. In the past nobody thought that life insurance was the right thing to get, and some people actually thought that it would be a waste of money to buy. With present events such as 9/11, Americans have come to their senses and have actually realized that accidents can happen to anyone at anytime and for that reason it is always better to be prepared.

With the market for life insurance increasing, it is not a surprise that more and more life insurance companies are being created. With so many companies it is hard to know which one of them is the best one for you. That is why a customer must always try and shop around either online or in person. If you locate a company that you think might be the one and when you compare its price to other companies you find that it’s not that expensive, and then you will feel much confident in signing with them.

When you try to log into the main website for AmerUS you will be directed to a letter from the Aviva Life Insurance Company. Since both of the companies combined and are being run under Aviva’s name it is important to know about them. Aviva is the world’s fifth largest insurance group and it is the biggest provider of life insurance in the United Kingdom. The company is huge and it employs about 58,000 people that serve an estimated 35 million customers around the globe. They are one of the strongest life insurance and long term service Product Company with assets of over $600 billion and more than $65 billion in sales. The company itself is based in London, England and its history can be traced back to the year 1696. This means that the company is over 300 years old and for this reason it has the recognition and world fame that not many other can claim.

AmerUs Life Insurance Company (now called Aviva Life and Annuity Company) offers many life insurance products that can help someone establish financial security for the future in case of an unexpected death. Some of the products offered by this company in the United States are Indexed Life Insurance, Universal Life Insurance, Single Premium Life, Indexed Survivor Universal Life, Level Premium Term Insurance and Excess Interest Whole Life Insurance.

Indexed Life Insurance: This type of life insurance allows people to have flexible payment options and death benefits. What is good about this type of policy is that it provides cash value accumulation based on how leading market indices grow. It is also good to note that this type of policy also protects the policy from the risks of a downside market and a drop in the indices. If you purchase what Aviva calls the “no Lapse Guarantee Rider” on your “Advantage Builder” part of the policy, the death benefit in the policy can be extended to the entire life of the person insured.

Universal Life Insurance: This type of life insurance is a very common type of permanent life insurance in the American market. This type of policy will actually specify the amount a beneficiary to the policy gets within certain minimum and maximum limits. This will allow the policy holder to actually buy the amount of life insurance that he or she prefers.

Single Premium Life: This type of policy is unique in that the person will only pay a single one time premium for a death benefit that will actually last a lifetime. This is primarily designed for individuals that have savings or that need cash when they have an emergency.

Indexed Survivor Universal Life: This type of life insurance company is one in which two lives are insured (more than likely a couple) and pays the benefit after the second person dies. In other words, if a husband dies before his wife; the policy will not be reimbursed to the beneficiary. It also has the potential to accumulate cash value that in the end will be given to the beneficiary after both people in the policy die.

Level Premium Term Insurance: Perhaps the most famous type of life insurance in the United States because it is not permanent. This type of insurance simply allows a policy holder to have protection for a specified period of time. In AmerUS (now Aviva) people can purchase 10, 15, 20 or 30 year term policies based on the needs that they have. This type of policy does not accrue cash value, but it will pay the beneficiary the amount that the policy holder purchases in case of the policy holder’s death.

Excess Interest Whole Life Insurance: There products are made to ensure that professionals, business owners, individuals and executives get what they need from the life insurance industry. What this type of policy does is give you fixed premiums and guarantees you death benefits.

As you can see AmerUS has gone far beyond what many life insurance companies have achieved. With the joint help of Aviva of North America, these two companies have taken the life insurance market in the United States to a whole new level. To decide if AmerUS and Aviva may be a good life insurance choice for your needs then be sure and carefully research your options with a licensed Aviva life insurance agent.

About this Author

Be sure and compare life insurance quotes from top life insurance companies against each other in order to decide which policy is best for your needs. Get started finding cheap life insurance today!

Insurance Claims – Notify the Insurance Company!

Posted on by
Reply

Seems sort of obvious, doesn’t it? But, there are different ways to notify the company that you’ve had a loss. And when you notify the insurance company can make a big difference in how your claim is handled.

The first place to look for information is on your policy. Many policies will have a telephone number listed for reporting a claim. However, I’ve seen policies that require the policyholder to notify the company in writing. So, make sure that the method of reporting your claim is acceptable to the insurance company. Likely, your agent has his name and telephone number on the policy. If so, call him and report the loss also.

Sometimes, an agent will have settlement authority to handle small losses, such as homeowner’s losses under $2,000.00. In that kind of instance, the agent could handle the claim for you. I’ve found this situation to be rare, though. Occasionally, captive agents (agents that work for only one company, like Allstate, Nationwide or Liberty Mutual) will have a small amount of settlement authority.

The first thing you should remember is that the agent is licensed by the Department of Insurance in his state to be an agent. There is a separate license for claims adjusters. It’s actually a violation of insurance regulations for an agent to do claims adjusting. It’s not his job to handle your claim, but to assist you in buying the coverage that’s right for you. Agents can be very helpful by making calls on your behalf if you’re having problems in your claim. They can be helpful in finding out key names and phone numbers for insurance company personnel that are handling your claim. If the agent has a large number of policyholders with that company, and his clientele represents a large amount of premium to that insurance company, it can be very helpful to have the agent call on your behalf when you’re having problems.

After all, it’s all about customer service, and keeping the promises made in the insurance policy.

Sometimes, the agent or an office secretary/customer service representative will fill out a claim form (called an ACORD form), and submit the claim form to the insurance company on your behalf. In this age of the Internet, frequently the claim form is electronic, and the agent will submit the electronic form by computer.

If the agent notifies the company on your behalf, and uses some type of form, ask the agent to send you a copy of the completed form. Then, you’ll be certain that the claim was submitted, and the date the claim was submitted.

Many times, however, the agent will have to refer you to the claims department of the insurance company. Your policy may have a telephone number for the claims department listed on the policy, and instructions how to make a claim.

Your policy requires you to notify the insurance company “in a timely manner” after you’ve had a claim. What is timely? It varies policy to policy. But each state has statutes of limitation that limit the amount of time after a claim occurrence that a claim can be made. Check with your state’s Department of Insurance to determine the statute of limitation where you live…or where the loss occurred. You’ll find a list of all of the Insurance Departments of all 50 U.S. states and their phone numbers in the Appendix, and at the website address shown below.

For example: you live in Minnesota, and own a retirement home in Florida. The Florida house gets hit by a hurricane. The statutes for Florida would apply.

WARNING: If you wait more than a month after your loss to notify the insurance company, they will be instantly suspicious. In those cases, you should expect to receive one of two forms from the insurance company before they begin their investigation of the loss:

Non-Waiver Agreement. This basically states that the insurance company is going to do a thorough investigation of the claim, but that their investigation does not commit them to pay the claim. It states that they do not waive any of their rights under the policy, and that the insured does not waive any of his rights by cooperating with the investigation. The insurance company wants the insured to sign this form. However, if the Insured refuses to sign the form, the insurance company will send him a….

Reservation of Rights letter. This states basically the same thing as a Non-Waiver Agreement, but the Insured does not have to sign it.

Don’t forget to write in your claim journal the date, time, who you spoke with, the phone number you called, and what was said when you reported your claim. That information could be very valuable later if you have problems with your claim.

Most likely, you’ll receive a claim number from the company when you report the loss. Write the claim number in your journal!!! Don’t expect the insurance company to quickly send you a form that has the claim number on it. Sometimes, it may be many days before the claims department sends you any correspondence, and you will likely need to speak with them before then.

WARNING: What about a situation in which someone else is at fault, and you’re making a claim against the other person’s insurance company? This could happen in an auto accident, or if someone causes damage to your house, or your contents. EVEN IN THIS SITUATION, you must notify your own insurance company that you’re involved in a claim.

The reason is that third party claims don’t always turn out well for you, the claimant. Sometimes, the other person’s insurance company denies liability or denies coverage. Sometimes, the other person’s insurance company drags the process out. Sometimes, the other person’s insurance company makes a settlement offer far below the fair value of the claim. Months may pass, and you have suffered a financial loss that is not getting paid.

What if you, or someone in your family, is injured in the claim…and the other guy’s insurance company won’t accept liability?

Those things might occur weeks or months after a loss. In many cases, you can short-cut that process and make a claim against your own insurance policy to repair the damages. Then your insurance company will do something called “Subrogation.” That is, they will pay your claim, and then contact the other person’s insurance company and demand reimbursement, including your deductible.

So, if you don’t report your claim right away, the policy might allow that insurance company to deny your claim based upon late reporting.

Besides, your policy REQUIRES you to notify the insurance company “promptly” after you have a loss of covered property. That requirement is there no matter who is at fault for the damages.

Don’t get caught in this technicality! Don’t lose your right to collect what you deserve when you notify the insurance company.

About this Author

Now, I’d like to offer you two special reports at no cost. One is “5 Things To Do When Shopping For Car Insurance,” and the other is “5 Things To Avoid When Shopping For Car Insurance.” Each one is a $9.95 value, but free to you when you sign up for my newsletter at the website address below.

P.S. WARNING!! Do Not Buy Insurance, or Submit an Insurance Claim Without Visiting This Website!

check out: http://www.insurance-claim-secrets.com

My Book is NUMBER ONE at Amazon.com in its category! Buy it Today!

Nominated for Georgia Author of the Year Award 2008

Finalist, USA Book News “Best Book Awards 2008″

My blog is at: http://insurance-claim-secrets.blogspot.com

Who’s Who – Company Insurance Brokerage & Independent Insurance Brokerage Listings

Posted on by
Reply

Agents can choose to place business with either a company insurance brokerage office or an independent insurance brokerage firm. Here are insurance brokerage listings for many of the various tiles used within the business. Find out the difference among insurance brokerage titles, and how to distinguish who’s who.

Health and life agents can earn over 90 insurance designations. Fortunately, the numbers of titles for firms obtaining brokerage business are fewer.A listing is provided of many different title names used, and any actual differences that separate one’s firm title from another. The potential producers that might write insurance cases for you should also know these differences.

Before this, it is critical because of some many misconceptions to define the terms broker and brokerage as they refer to life and health insurance. You would be surprised at how few of the general public understands what your firm title or function means. Likewise, hundreds of thousands of agents do not understand these terms. The mix up occurs primary with stock brokers and stock brokerage firms. That is what the majority of the public thinks of when hearing these terms.

Insurance brokerage firms of all different titles, obtain a written annuity, life, or health insurance case from a broker. All their producers should be called brokers and their cases called brokerage business. When an agent writes a case outside their primary career company, they are called a broker and their business is brokerage. There are many agents that are “agent brokers”. They have a primary insurance company as an agent and submit business to a brokerage firm as a broker. There are also independent life and health insurance agents that should rightfully be called independent brokers, with the before mentioned group better referred to as semi-independent agents.

Writing brokerage business is a true form of independence of the agent’s part. Rarely will this occur to any extent until the agent has surpassed a full three years of insurance dependence on career orientated companies. The three main reasons an agent writes insurance brokerage are independence, client needs, and higher commissions.

COMPANY INSURANCE BROKERAGE

What truly baffles insurance agents is the fact that some of the insurance companies training new insurance career agents often operate and highly promote through large advertisements their brokerage operations. They preach to the agents that they should only do business with the career company you are licensed with. Moreover, agents are firmly reminded they have all the products they need, and the company is supporting them 100%. Meanwhile the company insurance brokerage operation is trying to pilfer away as much business as possible from the career agents of fellow insurance companies. Less confusing of course, are the expanding number of insurance companies that only accept brokerage business and have no agency force of their own.

Starting with one insurance company brokerage operations, you have many different variations and titles among the people that distribute the products. A main difference would be those that are directly employed by the insurance company as a salaried or salaried plus bonus individual. Others have an independent contractor style contract, with fringe benefits like health insurance missing. They are paid through a combination of commissions and overrides along with possible production bonuses.

Director of marketing, national director of recruiting, director of product development and sales, Northwest marketing director, divisional director of disability sales, are just a taste of titles usually reserved for higher up home office employees. Many of these have never sold or brokered an insurance policy! Among them are fortune telling number crunchers with little reality of what it takes to be a successful brokerage manager. In turn, rarely do they do the actual recruiting of agents. The sad part is that they frequently set the company recruiting, marketing, and budgeting policies that others must follow.

The common one company insurance brokerage devoted titles include General Agent, Brokerage General Agent, Regional General Agent, State Manager, Managing General Agent, District Manager, Director of Brokerage, Wholesaler, and Regional Manager. If an insurance company is brokering three main products, they for example, may be LTC Brokerage Manager, Annuity Brokerage Manager, and Advanced Life Brokerage Manager. The inter combinations of titles are virtually countless. A high percentage of these one insurance company brokerage operations maintain the name of the company in their firm name.

Here is one conflict of interest. As some insurance companies want to sell as many insurance brokerage cases, as possible they often contract with independent marketing organizations and national brokerage firms. There is frequently true competition among them, going after agents and brokers to acquire insurance brokerage. It should be mentioned what the danger factor is. When you rely on just one insurance company what happens when your prime product is suddenly dropped, your territory is cut, your position is eliminated, or when another insurer buys out the company?

INDEPENDENT INSURANCE BROKERAGE LISTINGS

Non-existent just 25 years ago, independent insurance brokerage firms have erupted on the market scene. Here are some reasons why. First brokers like to find a company that can give them the best product for their client, or the highest commission when they make a sale. With some independent insurance marketing firms representing over 50 companies, they can sometimes do both. Some national firms are so powerful that they can dictate that an insurance policy develop a product only they can distribute. Insurance companies know that they can keep adding new policy features or constantly introduce a rehashed, but now called new policy. Insurance marketers love promoting a familiar product that has new features, a new name, or new commission structure. As insurance marketers like to make money, unfairly some of those where the highest override exists, are the products most heavily promoted . A 35% override sure beats 20% on a similar product in the mind of numerous marketers.

Titles that independent insurance brokerage marketers have on their contract include product distributor, national wholesaler, and exclusive product marketer, along with all independent contractor titles mentioned under one-company marketers. They often distinguish themselves by keeping their personal name out of the firm’s official name. Others insert the word independent or national to separate them. Usually they promote a variety of company insignia trademarks or names in their advertising materials.

It is essential to describe briefly independent insurance marketing organizations. Over 250 independent insurance brokerage firms are associated with to at least one of the top 20 independent insurance marketing organizations. While 250 out of 15,000 to 20,000 separate brokerage titled operations does not seem significant, it really is. The smaller firms combine contracting and some advertising to form the larger independent insurance brokerage marketing organization. The organization thereby is able to obtain a higher compensation level contract with more insurance brokerage companies. Although sometimes members only operate in one state, others cross-territories, even on a national basis. The longevity of profitability for these firms is amazing, especially when compared with brokerage firms overall. The dues and advertising cost sharing is well offset by the extra training tips, bonding, shared marketing tricks, and higher overrides they could receive on their own.

Who’s Who in major league, big-time insurance brokerage is constantly changing. Some are 3-generation family owned firms, and others mightily spring up and disappear just about as quickly. One of the key factors never mentioned above is of great magnitude. That factor is service. What can you do to make sure your broker stays your broker? Regardless of what title you or your firm has, all is irrelevant if the broker writes one case and moves on elsewhere.

About this Author

Well published author, Don Yerke likes to concentrate on what you don’t know or what no one else dares to print. Tell it like it is.

Watch for his new paperback book debuting on Amazon early this summer. It is loaded with great insurance marketing and recruiting information.

Come and get your FREE “Think and Grow Rich” Ebook by Napoleon Hill instantly. The website address is [http://www.agentsinsurancemarketing.com]

Tips To Choosing The Right Auto Insurance Company

Posted on by
Reply

Are you in the market for better auto insurance rates? Or, perhaps you are simply looking for a new auto insurance company? Whatever your reason for shopping around, now is the perfect time to request auto insurance quotes from several companies who are more than eager to earn your patronage. In fact, many companies will compete for your business by way of auto insurance rates.

Your first step to choosing the right auto insurance company is to consider the type of coverage that you need. For instance, if you have a less than perfect driving record or past credit problems, you may want to compare auto insurance costs from companies who specialize in giving customers a second chance to earn discount auto insurance. If you own more than one vehicle, you may find that some auto insurance companies will offer cheap auto insurance rates in exchange for becoming your exclusive provider. In other words, transferring all of your policies to one company may result in discount auto insurance at its best.

The next step in choosing an auto insurance company is to look for one that rewards customers based on a good driving record. One of the keys to a respectable auto insurance company is flexibility when it comes to coverage selection and incentives to promote better and more responsible driving. In addition to comparing auto insurance rates and plans, take the time to review the auto insurance company’s policy on discount auto insurance rates for those with a safe driving record.

It’s important to realize that auto insurance rates vary from one area to the next. For instance, Pennsylvania auto insurance may be less expensive than New York auto insurance or vice versa. Regardless of where you live, however, most will agree that auto insurance is expensive and it’s essential that you compare auto insurance rates to ensure that you are getting what you pay for. A good auto insurance company, for instance, will offer various deductibles, competitive auto insurance rates and some type of coverage that allows for the temporary payment of medical bills in the event that you ever become involved in an auto accident. If you are injured as a result of another motorist’s negligence, many auto insurance companies will pay for your medical bills and later seek reimbursement from the faulty individual(s). This is a great relief to many, especially those who may not otherwise have health insurance.

As a final thought to choosing an auto insurance company that offers the best auto insurance rate, free auto insurance quotes and/or a flexible program that can be customized to fit your individual needs, simply take the time to shop around and compare auto insurance from more than one company prior to making a final decision.

The information in this article is designed to be used for reference purposes only. It should not be used as, in place of or in conjunction with professional financial or insurance advice relating to auto insurance quotes, discount auto insurance or auto insurance rates. For additional information or to receive an auto insurance quote, contact a local auto insurance company.

About this Author

Andrew Daigle is the owner, creator and author of many successful websites including Free Auto Insurance Quotes [http://www.auto-insurance-quotes-cheap.com], an auto insurance company research site and a Low Loan Rates site for finding the best rates for personal loans, payday loans, student loans and more for your financial needs.

Reasons To Change Your Car Insurance Company

Posted on by
Reply

1. Paying too much for Car Insurance, its time to seek change.

2. When you must think of a new car insurance company.

Auto insurance is not a luxury but a necessity. And in order to get the maximum advantage experts recommend that you should shop around for auto insurance every 2-3 years. As policies change and newer players enter the market there are so many new attractive auto insurance schemes that you could benefit from. You should consider changing your auto insurance when:

o You are availing a huge mortgage to buy property and the bank or institution offers you a lower interest rate on home and auto insurance through their tie -ups.

o You have moved to another state where the auto insurance rules are different and you will make a saving by transferring your insurance to a new car insurance company. Or when your old car insurance company does not offer service in your new state.

o You want to cut costs and are trying to run your life on a budget. Shop around online for competitive auto insurance rates and change the car insurance company to one who offers the best deal.

o You have purchased a new car and the dealer is offering free insurance for three years. New cars have lower insurance rates so it is best for you to do a comparative study and find a car insurance company that offers a great deal. Car insurance rates vary greatly between car brands and types; find out which car insurance company offers the maximum coverage for the lowest rate.

o You are getting married and now will have two cars. Think about cancelling your individual car insurance policies and getting a joint one for both cars. Similarly if your family is growing and you have many cars used by adults as well as kids, ask auto insurance companies about group insurance schemes that will cover all the cars and drivers in your home. Most companies offer great discounted rates for combining car insurance policies.

o You are retired and now a senior citizen. Car insurance companies offer discounts to those who are 55 and above. There are a great many discounts available for a car that has a good insurance claim record, a car that is not driven every day, and a car that is single driver driven and well maintained.

o You are eligible for coverage through your new job. Many large companies have facilities like auto insurance schemes at premium rates lower than the market. If you are working in such a firm then you must consider cancelling your old policy and taking a new one with the car insurance company chosen by your workplace.

o When the rates being paid by you are high and your car insurance company shows no inclination to offer you a competitive rate. If you are paying too much for car insurance its time you changed your car insurance company to one that is offering you great facilities and rates.

Whatever the reason to change your car insurance company, the World Wide Web has sites where you can compare offers as well as quotes. Sites like LowerMyBills.com give quote comparisons in a click. So, read all you can about car insurance and the companies and determine which car insurance company offer will suit you best.

About this Author

Aaron Brooks is a freelance writer for http://www.1888carinsurance.com/, the premier website to find Car Insurance Quotes including auto insurance quote, online auto insurance quote, free car insurance quote, cheap car insurance quote, on line car insurance quote and more. He also freelances for the premier Cars site http://www.1866cars.com

What Should You Look For in an Auto Insurance Company?

Posted on by
Reply

What is a car insurance? What will an auto insurance cover?

Auto insurance companies cover you and your passengers in the event of an accident. But it is up to you to decide the level of cover you will get.

Will the damages to your property be covered by the company? Will all the passengers be covered or only your family? What if your daughter was driving your car?

What questions should you ask your auto insurance company when it comes to auto insurance? This article help you choose between the various insurance policies.

Types of auto insurance

Liability insurance, or third party insurance.

This is general the lowest form of insurance offered by an auto insurance company. This is the basic insurance, if you are involved in an accident, and it is proven to be your fault, the auto insurance company will pay damages to the other party.

The cover offered by the auto insurance company is usually set beforehand. These are the maximum amount the auto insurance company will pay in case of accident

For example the agent will agree on a $10000 coverage per person, (bodily injury) and/or $40000 coverage in bodily injury and/or $10000 in property damage per accident

You need to confirm with your auto insurance company what they will cover and what are the limits.

You might be offered a very low premium by some auto insurance company only to realize that your cover is minimal and unrealistic.

Collision and comprehensive coverage, comprehensive insurance and full comprehensive insurance

An auto insurance company will also offer you a comprehensive insurance, as the name indicates, you will be comprehensively covered.

In simple terms it means that if you are responsible for a collision the insurance company will pay for the repair of the vehicle.

But it is not so simple, an auto insurance company will almost always have the final say on what amount will be paid out, so if it is cheaper to give you market value for the car, then they will.

You might think that your car is worth $1000.00 but the real market value might be $500.00. This is not an uncommon scenario. So if the repair of your car are more than $500.00 then the auto insurance company will simply pay the book value of the car.

You must make sure that the insurance company is not in control of the market value of the car, normally organisations like the AA will give an impartial market value.

As with the third party insurance, the auto insurance company will almost certainly limit the amount that will be paid out, but in general terms, a comprehensive insurance will have higher limits.

Recreation Vehicle

A recreation vehicle needs its own insurance, a Recreation vehicle insurance is not the same as auto insurance.

You should not assume that because your car is comprehensively insured, so is your recreation vehicle.

Other Types of auto insurance

Medical (MedPay), Persona Injury protection (PIP) and no fault cover

This insurance will cover you and your passengers medical expenses in the event of a collision.

The no fault cover means that the auto insurance company will pay regardless of who is at fault. This give you the piece of mind that, at the very least, your family and friends are covered.

PIP is often a minimum requirement in some countries or states, ask your auto insurance company what the requirements are.

Uninsured/Underinsured motorists’ coverage

This cover, (also sometimes a minimum requirement in some states), will cover you if the person at fault is not insured or is underinsured.

You must ask your auto insurance company what you will be charged in case of such a situation. Normally the auto insurance company should not charge you some extra premiums.

Rental reimbursement, towing and labour

Those ‘extras’ often given with a comprehensive insurance is often use by auto insurance companies as specials.

So in case your car is damaged the auto insurance company will pay for rental costs, (sometimes only for a few days).

The auto insurance company might also offer to pay for the towing of your vehicle, (not always included).

As always you should ask your auto insurance company what is included in the cover.

The legal requirements.

Most states, and most countries will require a certain level of cover, from full comprehensive car insurance to third party auto insurance.

In most cases it is up to you, the driver, to ensure that your auto insurance company offers you the minimum required. In most cases the insurance company, (the auto insurance company), is under no obligation to instruct you of the requirements.

But of course, a good auto insurance company will, (should?), try its outmost to advise you on the best deal for you.

Find out more about Auto Insurance company [http://www.insurance-owl.com/other/car_co.php] on our website.

About this Author

Insurance Owl [http://www.insurance-owl.com] gives simple, clear information about insurance. Everything, ranging from health insurance to indemnity claims, including Auto, Travel and life insurance.