I read some observations that spurred me to give my two cents after the election. Washingtonians decided that liquor should not be privately run. I cringe at this decision mostly because of the touted beliefs that non state controlled liquor would put alcohol in the hands of youth. What??? I really hope the 51 percent that voted no didn’t believe this notion one bit.
Republicans gained the house, but for the wrong reasons. I love that our country faced with a dissatisfaction votes for another party, even if that party doesn’t have solutions. So what do we gain from this election for changing of the guard? I really hope one of the republicans that won ran with something other then “we’re not that guy” “lower taxes” or “cut government spending”. We should continue on this road for the next election and vote for neither a democrat nor republican next time, so when we’re dissatisfied with the political system we have no one to point the finger at but ourselves.
Emphasis on customer service, information, and great value, it is our personal agency goal to be experts in our field. We carry Safeco, Pemco, Progressive, Hartford, American Modern, Foremost, Progressive, GMAC etc.... Our webpage for McNaughton & Nate Insurance Group is: http://www.theinsuranceguyslive.com
Thursday, November 4, 2010
Wednesday, August 25, 2010
Can't believe this can happen in the United States.
Both clients complained about this company so I did a goggle search on Litton this is the first thing that popped up. Disgusting. http://www.consumeraffairs.com/finance/litton_loan.html
Friday, July 2, 2010
Washington Closer to Eliminating Worker's Comp Insurance Monopoly
By Curt Woodward
July 2, 2010
A campaign to end the state's monopoly on workers' compensation insurance appears to have enough support to qualify for the November ballot, adding to a busy initiative season in Washington politics.
Initiative 1082 supporters submitted stacks of petitions this week with an estimated total of more than 340,000 voter signatures. That's well above the roughly 241,000 required to earn a spot on the fall ballot, pending certification from state election officials.
The I-1082 campaign is led by the Building Industry Association of Washington, a trade group active in conservative politics. Insurers and other statewide business groups also are supporting the initiative.
The opposition campaign is being led by the state trial lawyers' association and organized labor groups. Both are usually aligned with Democratic and liberal political causes.
At present, Washington is one of just four states that do not allow private companies to offer workers' compensation insurance, although some employers self-insure under state supervision.
I-1082 would allow private insurance firms to offer their own plans in competition with a state-run system. It also would drop the current state mandate for employees to pay a share of premium costs.
Campaign leaders said they expect that call for more competition to be embraced by an electorate that is struggling with a slow economic recovery and an unemployment rate above 9 percent.
"The recession has highlighted for voters how important it is to make Washington a friendly place for businesses," said BIAW spokeswoman Erin Shannon. "Voters are really motivated and I think they're paying attention, and some of them are really angry and they're ready for significant change."
Business and labor interests regularly battle over Washington's workers' compensation system at the Legislature. Businesses generally complain about the cost of premiums and the state's management practices, including relatively plump benefits for injured workers.
Labor officials argue that Washington's system protects workers better than a private one by forsaking profits. Defenders also say the state has relatively moderate costs, ranking about midway nationally in one study when including "pension" costs for the permanently disabled.
"This system has its faults, but it works pretty well as a public system," said Alex Fryer, spokesman for the No on 1082 campaign. "When you introduce the profit motive into a system like this, what we've seen in other states is that claims get denied and delayed for a long time."
July 2, 2010
A campaign to end the state's monopoly on workers' compensation insurance appears to have enough support to qualify for the November ballot, adding to a busy initiative season in Washington politics.
Initiative 1082 supporters submitted stacks of petitions this week with an estimated total of more than 340,000 voter signatures. That's well above the roughly 241,000 required to earn a spot on the fall ballot, pending certification from state election officials.
The I-1082 campaign is led by the Building Industry Association of Washington, a trade group active in conservative politics. Insurers and other statewide business groups also are supporting the initiative.
The opposition campaign is being led by the state trial lawyers' association and organized labor groups. Both are usually aligned with Democratic and liberal political causes.
At present, Washington is one of just four states that do not allow private companies to offer workers' compensation insurance, although some employers self-insure under state supervision.
I-1082 would allow private insurance firms to offer their own plans in competition with a state-run system. It also would drop the current state mandate for employees to pay a share of premium costs.
Campaign leaders said they expect that call for more competition to be embraced by an electorate that is struggling with a slow economic recovery and an unemployment rate above 9 percent.
"The recession has highlighted for voters how important it is to make Washington a friendly place for businesses," said BIAW spokeswoman Erin Shannon. "Voters are really motivated and I think they're paying attention, and some of them are really angry and they're ready for significant change."
Business and labor interests regularly battle over Washington's workers' compensation system at the Legislature. Businesses generally complain about the cost of premiums and the state's management practices, including relatively plump benefits for injured workers.
Labor officials argue that Washington's system protects workers better than a private one by forsaking profits. Defenders also say the state has relatively moderate costs, ranking about midway nationally in one study when including "pension" costs for the permanently disabled.
"This system has its faults, but it works pretty well as a public system," said Alex Fryer, spokesman for the No on 1082 campaign. "When you introduce the profit motive into a system like this, what we've seen in other states is that claims get denied and delayed for a long time."
Friday, May 21, 2010
Thursday, May 6, 2010
Aggressive UW huh, gotta Love the Corporate BS
So I was listening to an UW spill out a rehashed corporate message today, which was totally the opposite of what they were posting in the Insurance Journal. And I can't help but fall on my stereotypes of east coast business models, and the inability between message/action to be inline with what is actually happening. Sorry to the East Coast, but I believe some of inadequate government stems from a historicial background of lousy corporate control and good ol boy connections. Not that I have a problem with a business being profitable, but please don't feed us a red hearing and expect any person with insight won't cut thru your singular point and feel totally snowballed. Or pherhaps what's really at play is the chance to appear as though things are shiny when the house your selling needs a new well put in. So to the UW that's rehashing the corporate jargan, here's the article I know you haven't read because your quite content listening to your office manager spill the juice down the pipeline.
The Hartford Financial Services Group, Inc. reported first quarter 2010 net income of $319 million.
Property and casualty net income rose $145 million, to $257 million for the first quarter of 2010, compared with $112 million for the prior year period.
The Hartford's P/C operations reported the first quarter 2010 combined ratio for ongoing operations, including prior year development and catastrophes, was 91.7 percent, compared with 89.9 percent in the prior year period. Excluding catastrophes, the current accident year combined ratio for ongoing operations for the first quarter of 2010 was 92.1 percent, compared with 90.0 percent for the prior year period. Current accident year catastrophe losses were $79 million, or 3.3 points.
The Hartford said key indicators in small commercial and middle market continue to trend favorably, with policy count retention up 4 percent over first quarter 2009 levels and renewal written pricing came in positive for the first time in six years.
The company also said that new insurance product rollouts drove year-over-year new business premium growth of 9 percent and 3 percent, respectively, in small commercial and middle market.
Written premiums for the first quarter of 2010 were $2.5 billion, equal to the first quarter of 2009. Increased small commercial and middle market new business premiums and policy retention were offset by economy-driven exposure reductions across the commercial segments and lower new business premium in personal lines resulting from the company's rate and underwriting actions.
"The company's first quarter results reflect building momentum, with year-over-year top-line improvements in many businesses," said Liam E. McGee, The Hartford's chairman, president and CEO. "We also benefited from capital market improvements, disciplined underwriting and a continued focus on execution across the organization. … We are now focused on executing our go-forward strategy, which leverages our product breadth, distribution strength and broad customer base," McGee said.
Source: The Hartford Financial Services
The Hartford Financial Services Group, Inc. reported first quarter 2010 net income of $319 million.
Property and casualty net income rose $145 million, to $257 million for the first quarter of 2010, compared with $112 million for the prior year period.
The Hartford's P/C operations reported the first quarter 2010 combined ratio for ongoing operations, including prior year development and catastrophes, was 91.7 percent, compared with 89.9 percent in the prior year period. Excluding catastrophes, the current accident year combined ratio for ongoing operations for the first quarter of 2010 was 92.1 percent, compared with 90.0 percent for the prior year period. Current accident year catastrophe losses were $79 million, or 3.3 points.
The Hartford said key indicators in small commercial and middle market continue to trend favorably, with policy count retention up 4 percent over first quarter 2009 levels and renewal written pricing came in positive for the first time in six years.
The company also said that new insurance product rollouts drove year-over-year new business premium growth of 9 percent and 3 percent, respectively, in small commercial and middle market.
Written premiums for the first quarter of 2010 were $2.5 billion, equal to the first quarter of 2009. Increased small commercial and middle market new business premiums and policy retention were offset by economy-driven exposure reductions across the commercial segments and lower new business premium in personal lines resulting from the company's rate and underwriting actions.
"The company's first quarter results reflect building momentum, with year-over-year top-line improvements in many businesses," said Liam E. McGee, The Hartford's chairman, president and CEO. "We also benefited from capital market improvements, disciplined underwriting and a continued focus on execution across the organization. … We are now focused on executing our go-forward strategy, which leverages our product breadth, distribution strength and broad customer base," McGee said.
Source: The Hartford Financial Services
Thursday, April 22, 2010
My Story
I have lots of stories, but I think everyone in this industry remembers their first claim that comes to perdition. I was fresh out of school had just received my insurance license, and the company I was working for at the time did an excellent job of stressing how important it was to be well covered and to always focus on the value of the policy not the dollar amount.
I had just written a policy for the sweetest couple transplanting from California to Washington for retirement. I remember how excited and sweet they were booming with anticipation, ready to move into their new home in the beautiful Spokane forest. Normally I’d do a sit down meeting with the clients for a more personal review, but based on the out of state situation it wasn’t a possibility. And they needed insurance for their newly built home ASAP. So we reviewed over the phone and I made my suggestions for the couple. We even laughed about how he had never had a ticket or accident in 50 plus years of driving, but we both agreed insurance was an important purchase.
Later that week I was out at dinner with a friend of mine. We were enjoying ourselves at this new swanky restaurant. I gave my cell phone out to clients for emergency, and told them not to worry if it’s an emergency to call me anytime. Sure enough I receive a call at 9:30pm, and I hear Nancy’s voice on the phone and I can immediately tell it’s bad. She’s crying and hysterical, and she should be.
“Heather, my husbands been in a serious accident, and he’s broken his neck. The doctor’s aren’t sure if he’s going to make it.” He had been medivacted by helicopter to a surgeon in Spokane, still in a coma. He had flipped his truck four times when his trailer jackknifed on the freeway on his way up from California. Thankfully Nancy was not in the truck at the time. There was nothing left of the Dodge, it was now a piece metal that looked like it had been put thru a can crusher. The trailer was broken apart and their livelihood sprawled upon the ground over 100’s of feet. “Our whole life was in that trailer” she sobbed. I told her not to worry; I can fix the truck and your TV. But you need to be with your husband now.
I still remember that day like it was yesterday, I remember bringing him flowers at the hospital, seeing him wrapped up in a full cast, having a machine breath for him. I had wished our first meeting would have something completely different, I had wished his wife could have her husband as he was a week ago. But this story will always stick with me, because we do what we do because we love to serve people. I always want the best for my clients, and I will never underestimate what can happen. For we always hear in this industry, “I’ve paid all these years for insurance and never had an accident”, and too those folks I can say be thankful, some are not as lucky. Let me share a story with you.
I had just written a policy for the sweetest couple transplanting from California to Washington for retirement. I remember how excited and sweet they were booming with anticipation, ready to move into their new home in the beautiful Spokane forest. Normally I’d do a sit down meeting with the clients for a more personal review, but based on the out of state situation it wasn’t a possibility. And they needed insurance for their newly built home ASAP. So we reviewed over the phone and I made my suggestions for the couple. We even laughed about how he had never had a ticket or accident in 50 plus years of driving, but we both agreed insurance was an important purchase.
Later that week I was out at dinner with a friend of mine. We were enjoying ourselves at this new swanky restaurant. I gave my cell phone out to clients for emergency, and told them not to worry if it’s an emergency to call me anytime. Sure enough I receive a call at 9:30pm, and I hear Nancy’s voice on the phone and I can immediately tell it’s bad. She’s crying and hysterical, and she should be.
“Heather, my husbands been in a serious accident, and he’s broken his neck. The doctor’s aren’t sure if he’s going to make it.” He had been medivacted by helicopter to a surgeon in Spokane, still in a coma. He had flipped his truck four times when his trailer jackknifed on the freeway on his way up from California. Thankfully Nancy was not in the truck at the time. There was nothing left of the Dodge, it was now a piece metal that looked like it had been put thru a can crusher. The trailer was broken apart and their livelihood sprawled upon the ground over 100’s of feet. “Our whole life was in that trailer” she sobbed. I told her not to worry; I can fix the truck and your TV. But you need to be with your husband now.
I still remember that day like it was yesterday, I remember bringing him flowers at the hospital, seeing him wrapped up in a full cast, having a machine breath for him. I had wished our first meeting would have something completely different, I had wished his wife could have her husband as he was a week ago. But this story will always stick with me, because we do what we do because we love to serve people. I always want the best for my clients, and I will never underestimate what can happen. For we always hear in this industry, “I’ve paid all these years for insurance and never had an accident”, and too those folks I can say be thankful, some are not as lucky. Let me share a story with you.
Wednesday, April 21, 2010
Thursday, April 8, 2010
Understanding Auto Insurance: The Importance of Having a Good Agent
The NAIC survey also found that some of the basics of auto insurance are not well understood, even though it is one of most commonly purchased types of coverage by people of all ages and demographics. The survey found that:
•More than six in 10 Americans (63 percent) do not understand that if property gets stolen from their car, it is covered by their homeowners/renters policy—and not auto insurance.
•More than half (54 percent) do not realize that, depending on the state in which you live, your credit history may be one of the factors considered by insurance companies when determining your premium. Other factors that can affect your auto insurance coverage include: driving record, type of vehicle and the deductibles you choose.
•Eighty-six percent of Americans do not know that when their liability coverage is 100/300/100, the last figure represents the maximum amount that their insurance company will pay in property damage for an accident.
•More than six in 10 Americans (63 percent) do not understand that if property gets stolen from their car, it is covered by their homeowners/renters policy—and not auto insurance.
•More than half (54 percent) do not realize that, depending on the state in which you live, your credit history may be one of the factors considered by insurance companies when determining your premium. Other factors that can affect your auto insurance coverage include: driving record, type of vehicle and the deductibles you choose.
•Eighty-six percent of Americans do not know that when their liability coverage is 100/300/100, the last figure represents the maximum amount that their insurance company will pay in property damage for an accident.
Thursday, April 1, 2010
Monthly Gift Card Winners
Thanks for the Referrals Guys! And Grats to the $25 Gift Card Winners this Month. Michael Eng and Ruby Estell!
Wednesday, March 31, 2010
Just them eh? U.S. Seeks Permanent Ban on Texting by Bus, Truck Drivers
I really tend to think some laws written fall under plan common sense. But apparently we need to spell it out to American drivers that texting while driving a bus full of people is a bad idea. And while I'd like to think we don't need such things blatantly written on some warning label, we do have people sue for hot coffee in this great country. We have low grade television spilling crap unto our airwaves just look at ABC, pretty much any show put out by the that network requires a fourth grade mentality to understand. Now that I think about it ABC is a fitting name for a network with such a low grade comprehension. And just when I think another glimpse at originality; such as a show like the Dollhouse it get cancelled for not enough viewers.
So in Closing I say spell it out to the masses, write another common understood social rule because we as Americans are too lazy or ignorant to grasp the most basic concepts.
"U.S Transportation Secretary Ray LaHood has proposed a federal rule that would to specifically prohibit texting by interstate commercial truck and bus drivers. The proposed rule would make permanent an interim ban announced in January 2010 that applied existing safety rules to the specific issue of texting.
The Department of Transportation also announced a partnership with Cornell University to increase public involvement and collaboration in the rulemaking process. The Cornell e-Rulemaking Initiative (CeRI) partnership will make the federal regulatory process more accessible to the public through Regulation Room, an online public participation environment where people can learn about and discuss proposed federal regulations and provide feedback.
The proposed rule will be on public display in the Federal Register March 31 and will appear in print in the Federal Register on April 1. Citizens can find more information on the Cornell online effort and provide comments on the proposed rule at regulationroom.org over the next 30 days.
Federal research shows that drivers who send and receive text messages take their eyes off the road for an average of 4.6 seconds out of every 6 seconds while texting. At 55 miles per hour, this means that the driver is traveling the length of a football field, including the end zones, without looking at the road, according to researchers.
Drivers who text while driving are more than 20 times more likely to get in an accident than non-distracted drivers. Because of the safety risks associated with the use of electronic devices while driving, the Federal Motor Carrier Safety Administration (FMCSA) is also working on additional regulatory measures that will be announced in the coming months.
Last September, LaHood announced the department's plan to pursue this regulatory action, as well as rulemakings to reduce the other risks posed by distracted driving.
President Obama also signed an Executive Order directing federal employees not to engage in text messaging while driving government-owned vehicles or with government-owned equipment. Federal employees were required to comply with the ban starting on Dec. 30, 2009.
A number of states have texting while driving also."
So in Closing I say spell it out to the masses, write another common understood social rule because we as Americans are too lazy or ignorant to grasp the most basic concepts.
"U.S Transportation Secretary Ray LaHood has proposed a federal rule that would to specifically prohibit texting by interstate commercial truck and bus drivers. The proposed rule would make permanent an interim ban announced in January 2010 that applied existing safety rules to the specific issue of texting.
The Department of Transportation also announced a partnership with Cornell University to increase public involvement and collaboration in the rulemaking process. The Cornell e-Rulemaking Initiative (CeRI) partnership will make the federal regulatory process more accessible to the public through Regulation Room, an online public participation environment where people can learn about and discuss proposed federal regulations and provide feedback.
The proposed rule will be on public display in the Federal Register March 31 and will appear in print in the Federal Register on April 1. Citizens can find more information on the Cornell online effort and provide comments on the proposed rule at regulationroom.org over the next 30 days.
Federal research shows that drivers who send and receive text messages take their eyes off the road for an average of 4.6 seconds out of every 6 seconds while texting. At 55 miles per hour, this means that the driver is traveling the length of a football field, including the end zones, without looking at the road, according to researchers.
Drivers who text while driving are more than 20 times more likely to get in an accident than non-distracted drivers. Because of the safety risks associated with the use of electronic devices while driving, the Federal Motor Carrier Safety Administration (FMCSA) is also working on additional regulatory measures that will be announced in the coming months.
Last September, LaHood announced the department's plan to pursue this regulatory action, as well as rulemakings to reduce the other risks posed by distracted driving.
President Obama also signed an Executive Order directing federal employees not to engage in text messaging while driving government-owned vehicles or with government-owned equipment. Federal employees were required to comply with the ban starting on Dec. 30, 2009.
A number of states have texting while driving also."
Saturday, March 27, 2010
National Mention for Spokane Real Estate
National shout out to Spokane Washington for Real Estate and quality of life. So to all those Spokane haters, plus one for the rest of us that enjoy this historic town.
http://www.msnbc.msn.com/id/21134540/vp/
http://www.msnbc.msn.com/id/21134540/vp/
Thursday, March 25, 2010
Utah Gets a New State Insurance Commis with an Amazing Name
Ok, so I know it's a childish post, but your all thinking about it anywho. Could you imagine voting a guy or appointing one with the last name gooch? Really. I would def be seeking for a name change.
Gooch Appointed Utah's Acting Insurance Commissioner
March 25, 2010
Acting Commissioner Announced Neal T. Gooch has been appointed as acting insurance commissioner of the Utah Insurance Department. Governor Gary R. Herbert said the appointment would extend "until the selection of a permanent Commissioner is made."
Former Commissioner D. Kent Michie retired in January after five years of service as commissioner of the Utah State Insurance Department and 21 years as state financial advisor. In April, he and his wife Barbara Gruman will serve an 18-month mission in the Helsinki, Finland LDS Temple.
Gooch has had extensive experience with the Insurance Department. Beginning in 1986 while serving in the Attorney General's Office, he was made general counsel to the insurance department. He served in that capacity until August of 1997, when appointed by Commissioner Merwin U. Stewart as deputy commissioner then asked to continue in that capacity by Commissioner D. Kent Michie in 2005.
Gooch Appointed Utah's Acting Insurance Commissioner
March 25, 2010
Acting Commissioner Announced Neal T. Gooch has been appointed as acting insurance commissioner of the Utah Insurance Department. Governor Gary R. Herbert said the appointment would extend "until the selection of a permanent Commissioner is made."
Former Commissioner D. Kent Michie retired in January after five years of service as commissioner of the Utah State Insurance Department and 21 years as state financial advisor. In April, he and his wife Barbara Gruman will serve an 18-month mission in the Helsinki, Finland LDS Temple.
Gooch has had extensive experience with the Insurance Department. Beginning in 1986 while serving in the Attorney General's Office, he was made general counsel to the insurance department. He served in that capacity until August of 1997, when appointed by Commissioner Merwin U. Stewart as deputy commissioner then asked to continue in that capacity by Commissioner D. Kent Michie in 2005.
Monday, March 22, 2010
Time to Fire this State Farm Agent
"We have State Farm, and we had our agent out not to long ago to get all of our life insurance and update plans and such, we asked him about our beware of dogs signs and the no trespassing signs, we were told the more the better, I was telling him the situation where the bible person came to the front door and since he didnt get an answer he walked in my backyard, knowing I as just out back with Cash unleashed, he did not know he wouldnt bite him, but he took the chance and avoided my no trespassing signs and beware of dog signs I have on my front door and posted on each side of the driveway headed into my back yard, and NO they cant be missed.
I was worried because if one of my dogs would have bit him I would be sued, True my agent said, but also he was trespassing and by law he would have lost, now be it a small child thats a different story.. so I leave my signs up and will continue to do so, if he had told us that it was a bad idea and they should be removed I would have done so.. My neighbor hates large dogs of any breed but yet they own the business at the corner and they have high gates with a big steel sign that says "warning Guard Dog in Duty" and a doberman on the sign... funny thing about it, he always forgets to close the other gate that goes onto the property
"
First off posting a sign fully admits to your awareness of having a dangerous dog. A landlord is more likely to loose a case if they rent to a tenant whom they know has a dangerous dog, then if they were plain ignorant about it.
Second as an insurance professional if someone is concerned enough to post a sign and does so, then it's a red flag to me, I'll find a different person to insure. Dog bites are one of the largest liabilities that insurance companies pay out for. If an agent wants to sell you more policies (as noted with the life insurance) and is not worried about their business for the long haul, do you really want them giving you personal insurance advice for the long term?
Third, the agent is clearly ignorant enough to give legal advice. Their not a lawyer, and should not pretend to be so.
Shame on this agent, they would have taken the signs down had they said something, for this clients sake, I hope this agent has good Errors and Omissions insurance.
I was worried because if one of my dogs would have bit him I would be sued, True my agent said, but also he was trespassing and by law he would have lost, now be it a small child thats a different story.. so I leave my signs up and will continue to do so, if he had told us that it was a bad idea and they should be removed I would have done so.. My neighbor hates large dogs of any breed but yet they own the business at the corner and they have high gates with a big steel sign that says "warning Guard Dog in Duty" and a doberman on the sign... funny thing about it, he always forgets to close the other gate that goes onto the property
"First off posting a sign fully admits to your awareness of having a dangerous dog. A landlord is more likely to loose a case if they rent to a tenant whom they know has a dangerous dog, then if they were plain ignorant about it.
Second as an insurance professional if someone is concerned enough to post a sign and does so, then it's a red flag to me, I'll find a different person to insure. Dog bites are one of the largest liabilities that insurance companies pay out for. If an agent wants to sell you more policies (as noted with the life insurance) and is not worried about their business for the long haul, do you really want them giving you personal insurance advice for the long term?
Third, the agent is clearly ignorant enough to give legal advice. Their not a lawyer, and should not pretend to be so.
Shame on this agent, they would have taken the signs down had they said something, for this clients sake, I hope this agent has good Errors and Omissions insurance.
Wednesday, March 17, 2010
Cheap Auto Insurance in Spokane Washington
Figure yourself in driving to work downtown Spokane, you leave at 7:00am to get to work on time, and get home around 7:30pm, after you've ran your errands or returned from a social gathering. It is common to find people juggling time between work and family. Some take up two jobs just to make ends meet. Some work during the day and go to school at night or vice versa. Because of this, people are always looking for ways to speed up processes so that their precious time is not wasted. Thanks to the internet, many businesses today can be done online in just a matter of minutes.
The car insurance industry is one of those who took advantage of the internet to offer auto insurance quotes online. Instead of clients visiting their offices, they could turn to the internet for cheap insurance. This is a fast process that usually takes up only five minutes at most to complete. However, while many people today are fond of getting auto insurance quotes online, they should also note it comes with disadvantages.
Speed does not = Good Customer Service. An online quote does not see you as a EWU student vs. a new nineteen year old driver that just received their license. There's no quick response to a question you have. Most important, there's no professional interpreting the companies code to protect you and your family.
It's odd that time and time again when people try to speed up the process, we are counterproductive to that goal. I had one client for instance last week that spent several days of cheap insurance shopping for her daughter, and then called me. Three hours later I had checked multiple lines of insurance and offered three times the coverage at half the price. Now when her daughter has an accident she can feel a lot more comfortable knowing their coverage. In the long run it comes to, how well do you sleep at night?
The car insurance industry is one of those who took advantage of the internet to offer auto insurance quotes online. Instead of clients visiting their offices, they could turn to the internet for cheap insurance. This is a fast process that usually takes up only five minutes at most to complete. However, while many people today are fond of getting auto insurance quotes online, they should also note it comes with disadvantages.
Speed does not = Good Customer Service. An online quote does not see you as a EWU student vs. a new nineteen year old driver that just received their license. There's no quick response to a question you have. Most important, there's no professional interpreting the companies code to protect you and your family.
It's odd that time and time again when people try to speed up the process, we are counterproductive to that goal. I had one client for instance last week that spent several days of cheap insurance shopping for her daughter, and then called me. Three hours later I had checked multiple lines of insurance and offered three times the coverage at half the price. Now when her daughter has an accident she can feel a lot more comfortable knowing their coverage. In the long run it comes to, how well do you sleep at night?
Monday, March 15, 2010
Washington State Insurance Commissioner Wants To Ban Insurers' Use Of Credit Information
This would be interesting? Don't think they'll get it passed though, pretty much any state that's been hesitant about scoring has fallen into the use of credit scoring eventually.
Washington state Insurance Commissioner Mike Kreidler is seeking a ban on the insurance industry's practice of credit scoring, saying the sector's reliance on credit information is "startling." According to a Jan. 19 news release, Kreidler said the practice is "discriminatory and blatantly unfair" in light of the current economy.
For more information on this article http://www.insurance.wa.gov/consumers/credit/index.shtml
Washington state Insurance Commissioner Mike Kreidler is seeking a ban on the insurance industry's practice of credit scoring, saying the sector's reliance on credit information is "startling." According to a Jan. 19 news release, Kreidler said the practice is "discriminatory and blatantly unfair" in light of the current economy.
For more information on this article http://www.insurance.wa.gov/consumers/credit/index.shtml
How Much Life Insurance Do I Need?
A popular approach to buying insurance is based on income replacement. In this approach, a formula of between five and ten times your annual salary is often used to calculate how much coverage you need. Another approach is to purchase insurance based on your individual needs and preferences. The first step is to determine your unique income replacement needs.
Currently, a large portion of your income goes to taxes (insurance benefits are generally income tax free) and to support your own lifestyle. Start off by determining your net earnings after taxes. Then add up all your personal expenses such as food, clothing, magazine subscriptions, club memberships, transportation expenses, etc. The remainder represents annual income that your insurance will need to replace. You'll want a death benefit amount which, when invested, will provide income annually to cover this amount. Then, you should add to that the amounts needed to fund one-time expenses such as college tuition for your children or paying down mortgage or debt.
Income replacement for nonworking spouses is an important and often overlooked insurance need. Coverage should provide for your costs for day care, housekeeping, or nursing care. Add to this any net earnings from part-time employment.
Finally, estimate your own "final expenses" such as estate taxes, uninsured medical costs, and funeral costs.
Currently, a large portion of your income goes to taxes (insurance benefits are generally income tax free) and to support your own lifestyle. Start off by determining your net earnings after taxes. Then add up all your personal expenses such as food, clothing, magazine subscriptions, club memberships, transportation expenses, etc. The remainder represents annual income that your insurance will need to replace. You'll want a death benefit amount which, when invested, will provide income annually to cover this amount. Then, you should add to that the amounts needed to fund one-time expenses such as college tuition for your children or paying down mortgage or debt.
Income replacement for nonworking spouses is an important and often overlooked insurance need. Coverage should provide for your costs for day care, housekeeping, or nursing care. Add to this any net earnings from part-time employment.
Finally, estimate your own "final expenses" such as estate taxes, uninsured medical costs, and funeral costs.
Action Plan for Auto Accidents
http://www.youtube.com/watch?v=qPVxoeagYjo
1. Keep an Emergency Kit in Your Glove Compartment. Drivers should carry a cell phone, as well as pen and paper for taking notes, a disposable camera to take photos of the vehicles at the scene, and a card with information about medical allergies or conditions that may require special attention if there are serious injuries.
2. Keep Safety First. Drivers involved in minor accidents with no serious injuries should move cars to the side of the road and out of the way of oncoming traffic. Leaving cars parked in the middle of the road or busy intersection can result in additional accidents and injuries. If a car cannot be moved, drivers and passengers should remain in the cars with seatbelts fastened for everyone's safety until help arrives. Make sure to turn on hazard lights and set out cones, flares or warning triangles if possible.
3. Exchange Information. After the accident, exchange the following information: name, address, phone number, insurance company, policy number, driver license number and license plate number for the driver and the owner of each vehicle. If the driver's name is different from the name of the insured, establish what the relationship is and take down the name and address for each individual. Also make a written description of each car, including year, make, model and color — and the exact location of the collision and how it happened. Finally, be polite but DON'T tell the other drivers or the police that the accident was your fault, even if you think it was.
4. Photograph and Document the Accident. Use your camera(cell phone) to document the damage to all the vehicles. Keep in mind that you want your photos to show the overall context of the accident so that you can make your case to a claims adjuster. If there were witnesses, try to get their contact information; they may be able to help you if the other drivers dispute your version of what happened.
5. File An Accident Report. Although law enforcement officers in many locations may not respond to accidents unless there are injuries, drivers should file a state vehicle accident report, which is available at police stations.
1. Keep an Emergency Kit in Your Glove Compartment. Drivers should carry a cell phone, as well as pen and paper for taking notes, a disposable camera to take photos of the vehicles at the scene, and a card with information about medical allergies or conditions that may require special attention if there are serious injuries.
2. Keep Safety First. Drivers involved in minor accidents with no serious injuries should move cars to the side of the road and out of the way of oncoming traffic. Leaving cars parked in the middle of the road or busy intersection can result in additional accidents and injuries. If a car cannot be moved, drivers and passengers should remain in the cars with seatbelts fastened for everyone's safety until help arrives. Make sure to turn on hazard lights and set out cones, flares or warning triangles if possible.
3. Exchange Information. After the accident, exchange the following information: name, address, phone number, insurance company, policy number, driver license number and license plate number for the driver and the owner of each vehicle. If the driver's name is different from the name of the insured, establish what the relationship is and take down the name and address for each individual. Also make a written description of each car, including year, make, model and color — and the exact location of the collision and how it happened. Finally, be polite but DON'T tell the other drivers or the police that the accident was your fault, even if you think it was.
4. Photograph and Document the Accident. Use your camera(cell phone) to document the damage to all the vehicles. Keep in mind that you want your photos to show the overall context of the accident so that you can make your case to a claims adjuster. If there were witnesses, try to get their contact information; they may be able to help you if the other drivers dispute your version of what happened.
5. File An Accident Report. Although law enforcement officers in many locations may not respond to accidents unless there are injuries, drivers should file a state vehicle accident report, which is available at police stations.
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