You see I am a stubbornly proud farm girl and at twelve years old, I admit I had trouble seeing the ‘good’ sometimes. One time I remember my older sister was telling her new boyfriend that I was a little wimp and she could thump the tar out of me if she wanted to.

You see, although we never really fought, the exact opposite was true and I decided to prove it by putting her in a headlock and make her beg for me to let her go, in front of her new boyfriend of course. Not the ‘right’ thing to do but right or wrong it did make me feel good for a few minutes!

If it was tough for me to do the right thing then, you can imagine how difficult it is for me now sometimes, when life is a lot more complex.

So back to real life.

The first thing we hear about insurance is likely negative, from me included. Regardless of the fact that we really do need it and it does save a lot of people from financial ruin.

We hear about how expensive life insurance is and how ALL life insurance agents are pushy and rude. People talk about how difficult it is to make a claim and that the insurance agent mislead them with their policy and they don’t have the protection they thought they had.

I could go on but why don’t we try focusing on the positive for once?

Life insurance is something that can protect you and your family after a tragedy has occurred. Yes there are some insurances that would be a waste of money for everybody but if you take the time to find out what type of life insurance coverage suits your needs, you will minimize your expenses and ensure you are protected if your world is turned upside-down.

There is no ‘right’ or ‘wrong’ life insurance policy but there is coverage that suits your situation best. By having the right amount of coverage if you die, your loved ones won’t be stuck trying to pay off all your debts or lower their standard of living in order to pay for all of your loose ends.

Doesn’t this make sense to you?

Try focusing on the light at the end of the tunnel and see all the good that insurance companies can offer.

It’s really not that tough if you choose to give it a shot. I double dog dare you try it!

My farm-girl lingo aside and translated into city slicker terms, that just means there are always going to be a few that spoil it for the others and the insurance world seems to win gold with this one.

It’s those one or two pushy little cockroaches, that will not stop coming at you no matter how many times you insult or assault them!…I’m kidding about that last part.

And trust me, I totally understand that you achieve great pleasure just thinking about playing nice for a few minutes, so you can draw them in, target them high with a fast dollyo chai gi (round house kick), following through with a snap dwi cha gi (back kick) and finishing with a solid hap cha gi (front snap kick)!

…sorry…that’s my inside-the-head voice getting carried away.

My master would not be impressed with me because for four years, my martial arts instructor patiently pounded into my thick skull, to always avoid fighting, by diffusing the situation (the exact opposite of how we handled things on the farm!).

He’s right but it is fun to think about sometimes!

Getting back on track. After failing with the nice stuff, the quickest route to getting rid of the pesky insurance agent is to bully right back. They really don’t like it when the tables are turned.

Read up on all you can about insurance and let them know you are fully aware of what you need and that you will not be using them for your purchase.

Although you need to make certain you are targeting the right person. Some insurance agents really are trying to convince you to purchase home, life, auto or health protection for the right reasons, because you need to make sure your family and financial responsibilities are taken care of, if you died.

I get that and it makes total sense. Unfortunately, there are those slicksters that are just out to make their commission and aren’t taking ‘NO! NOW GET OFF MY PROPERTY!’ for an answer.

Stand up to them and if that doesn’t work, you could always just tell on them! The Department of Insurance has a few ways to get things resolved rather quickly, with their own version of the rear naked choke hold!

With that said, where do you draw the line between making money and robbing? How much is too much? What is fair?

You guessed it, I’m a little peeved right now because I feel like I’m in handcuffs…and not the fun kind!

Now I will be the first to admit that my driving record isn’t perfect but it’s not a walking time-bomb either. I had a minor accident when I was 16, that’s twenty something years ago. There have been a few speeding tickets that I wasn’t able to work my way out of. I blame it on the cop being female.

But my record was pretty good until my major accident. Essentially I was hit by a 3/4 ton truck, as I was unable to stop at an intersection in a snowstorm. I remember my first conversation with my insurance adjuster very clearly, assuring me not to worry about anything because ‘they would take care of me,’ just before I blacked out.

Prior to the accident I was paying approximately $125 monthly for my auto insurance protection. After this single accident I was dropped from my insurance company, conveniently just a few days before my policy would officially be cancelled.

I do know that if your auto insurance coverage lapses for any reason, it makes it difficult to get a good rate or even find an insurance company to take you on.

‘Luck’ was on my side and I did manage to find an insurance company that could sign me up before the clock hit midnight and I turned into a pumpkin. And here’s the catch. My new rate is $249 per month! What the @$#%?

I had one accident in questionable weather conditions, where there were no other expenses except fixing the vehicles. I have paid religiously to the insurance company for twenty something years, with only one minor accident back when poufy hair and tye-dye pants were in!

This is where the handcuffs come into play. Along with most of the world, I really can’t function without a car and hence auto insurance becomes a staple. Same as if you’ve got a house, you need home insurance.

So lucky for you, I’m done whining and I’ve learned a tough lesson.

Unfortunately when your chips are down, don’t count on your auto insurance company to ‘take care of you.’ Never forget that they (your insurance adjuster) are doing their job and that depends in large part on how much money they can make and save their insurance company.

My advice…keep one eye on the road and the other on your insurance company at all times!

First off, you need to put on your thinking cap and take a few minutes to understand the different kinds of auto insurance available to you and the reasons behind each one.

Did you know that if you are labeled ‘high risk’ and had your license suspended due to driving uninsured or being convicted of drunk driving, that you will need to acquire a special insurance called SR22? This is essentially a document that your insurance provider will forward to the state, verifying that you have valid minimum liability coverage. With this, your license suspension will be lifted and you will be able to drive again.

It often seems like there is so much insurance information that tends to cloud the facts. So for now we’ll keep it simple.

With that said, these are the main types of auto insurance policies:

Personal Injury Protection

This is medical coverage for injuries to either yourself or someone from the other vehicle after a car accident. With PP your medical bills are paid regardless. This ‘no-fault’ insurance is mandatory for every driver in ‘no-fault’ states.

This insurance has two parts. The first is medical for things like doctor fees and medical bills, along with equipment. The next is the reimbursement for anything not medically related, like child care or lost wages.

Liability Insurance

This insurance pays for any injuries or damages to the other person and their property. In most states this is the minimum insurance that a driver must have.

As well, liability coverage pays for a lawyer if you are sued. The two types of liabilities covered are for bodily injury and personal property.

Uninsured Motorist Coverage

This insurance will reimburse you for the damages caused by an uninsured driver. Obviously the driver has no liability coverage and hence this insurance will take care of your damages. Of course it doesn’t cover the uninsured driver at all. They are basically on their own.

Underinsured Coverage

This policy covers the damages caused by an underinsured driver. Meaning this policy will take care of the limits between their policy and yours. With that said, your policy has to be higher in order for this policy to be of use to you.

Collision Auto Insurance

This insurance will cover the damages to your vehicle, whether the fault is yours or the other driver.

Comprehensive Insurance

This policy covers damages to your automobile that is not from a collision. Examples would be fire, theft or even vandalism by a domestic farm animal.

Thoughts For Choosing

Your policy choice is strongly dependent on your state’s minimum liability coverage laws. Most people opt to go with the ‘cheapest’ insurance they can find, but often that’s not a wise decision.

It is important that you understand each of the options available and that you are protected fully for your particular situation. Paying a little more now might just be worth your while, when the tiger sneaks up behind you and decides to strike. It’s up to you as you’re in the driver’s seat.

Know what your auto insurance options are and you’ll have one less thing to worry about when you hit a pothole, in the always enthralling game of life.

It’s a classic catch-22 here. You need to drive a vehicle in order to survive, yet you can’t afford to because your insurance company has decided to put your rates through the roof. Yes, your insurance company has done this. Not the government or anybody else. It is each separate insurance company that decides what rate they are going to charge you, based on their mood of the day. Not fair, but since when did that matter?

So you forego feeding your family for a week or two and manage to find a few dollars left on your credit card to pay your outrageous auto insurance bill. You really can’t afford your car insurance but you can’t afford the alternatives either.

1. You don’t bother with auto insurance and you get caught driving without insurance. If this happens you’re family will have nothing to eat for the rest of them month!
2. You don’t bother with auto insurance and end up in an accident. If that’s the case you will need to sign over the deed to your house as a start.

Let’s say you paid your premium, you were in an accident and you were denied coverage (yes, you were having a very bad day!). Don’t give up hope as there are a few things you can do.

First off, your insurance company has a legal and contractual obligation to quickly and fairly settle your auto insurance claim. You can:

• Write back and prove to the insurance company that they made a mistake. (Of course you will have to provide documentation of their mistake).
• You can plead your case to the State Insurance Commissioner. (Good luck with this one).
• You can throw the legal darts at them and get a lawyer to send them a letter regarding your situation. (If you’re lucky this might miraculously refresh their memory).
• More legal darts. You can try suing the insurance company for breach of contract, bad faith or any other violation that might work for you. (Can you say ‘deep pockets?’).

There’s no denying it, auto insurance is often frustrating but you really don’t have a choice here. You are required by law to have insurance on your vehicle and you are just plain stupid not to protect yourself.

My advice is to shop around. Compare prices and get the best auto insurance rate possible by getting quotes. Take the time to research what sort of rates are available to you and why. You might as well make the best out of a depressing situation.

Maybe you should think of it this way. You’ve got to lug your heavy pack on the hike just in case you need something. So why not forget about the inevitable and focus on the beautiful day!

So it’s not a question of whether or not you need health insurance, it’s ensuring you get the coverage you need, for the best rate possible.

The ’seriousness’ of health insurance is the Yin. So where’s the Yang?

Well the Yang of the health insurance industry is the humor, or lightheartedness that’s always been there, but often overlooked. This lightness balances things out, as it works against the ’serious’ side of health insurance.

Today I’m going to ignore the ’stresses’ surrounding health insurance and focus on the funny side, with a few weird and funny medical facts, to get those endorphins pumping!

• Did you know that Queen Victoria ordered a few joints from her doctor to combat menstrual cramps? ( LMAO…You rock! )
• Were you aware that some people have died from paper cuts? You see, the cut gets infected and if not treated, you can die. ( I’m proud to shout out to the world that I am a survivor, although that really freaks me out! )
• Do you believe your thumb and your nose are the same length? ( I didn’t tell you to prove it! I asked if you believe! )
• Did you know that undertakers report that dead bodies decompose slower today, than they used to? They believe that all the preservatives we are eating, is causing this change. ( Take that, all you health freaks! I’ve got scientific proof there is at least one benefit to eating junk food! )

There…you’re smiling! Now go and balance this out by getting your Yin. Make sure you’ve got the health insurance coverage that works for you, cuz you just never know when life is going to throw your a curve ball.

It’s like thinking a cow is going to kick you, just because you remember the nasty hoof-cleaner talking about taking a few side kicks to the noggin. If you just stopped a minute to think logically. If you were the cow, you would have kicked him too, after being jabbed with the pitch fork and cursed at constantly!

The point is, there are pluses and minuses with everything in life, depending on your experiences and circumstances. For instance, if we took the time to pop our life insurance prejudices out of our head, and look at the reasoning behind life insurance, we’d be better able to determine if we need it and why.

I used to be a ‘groupie’ for term insurance. There are no inflated premiums for savings and insurance. The idea was to pay just for the insurance you would need to cover your liabilities, funeral expenses and take care of your family if you died. When you reached the point of financial independence, you get rid of it. Makes sense to me.

Whereas whole life insurance is basically insurance and savings. You pay a little more than with term, but this money will slowly accumulate into a small amount of cash value, which you can have at the end of the term, or borrow against while you have the policy. Of course it will cost you to borrow YOUR money. I never really did get that.

Funny thing is, now I can understand why whole life insurance may be the ‘right’ type of life insurance for some people. A lot depends on an individuals mindset. If someone is not very disciplined when it comes to saving, but believes wholeheartedly in life insurance, maybe whole life insurance is a good thing for them, as it forces savings.

Now the return on the savings is embarrassing, less than 3%, but at least they will have something at the end of the day.

Insurance policy’s aren’t out to rip you off! They are there for a reason, for a specific situation and just because it does not apply to you, does not mean insurance is the devil in disguise.

You have the responsibility to inform yourself on the different life insurances and to choose what works best for you. Set your fears aside and start learning, you’ll be pleasantly surprised, what you discover in the amalgamated pot of insurance, just outside of Purgatory.

I can’t count the number of times I’ve had someone come into the office, with some tall tale, compliments of the uninformed insurance rumor mill. Often I’m laughing inside and can’t help but smile just a little thinking about it.

So I’m going to help save you from getting fished in and educate you a little bit in the process, by de-bunking a few of these auto insurance myths for you.

• Having a red car means higher rates than a white one. It does not matter if your car is painted rainbow, the color does not affect your rates. They are dependent on your driving history, vehicle engine size, make, model and year, along with your credit rating.
• You don’t need auto insurance if you haven’t had an accident. Yikes! This one is just plain dangerous. In most states it’s the law to have auto insurance if you own a vehicle. It’s absolutely insane not to protect yourself. On a positive note, if you haven’t had any accidents chances are your car insurance will be very affordable. Try and keep it that way.
• I have no fault insurance, so an accident isn’t my fault. Wow…this one can be an eye opener for some. No-fault insurance means the insurer pays for the damages as a result of the accident regardless of who was at fault.
• If my friend driving my car and has an accident, their insurance will pay for it. This one couldn’t be further from the truth. It was your car in the accident and it is your insurer that pays for the damages. Chances are you will also be on record because it’s your vehicle and you could still see an increase in your premiums.
• It’s the government that sets the auto insurance rates. Nope, guess again! Fact is the insurance department in you state only sets the maximums the insurance industry can charge. It’s up to your individual insurance company to decide the rate you’re going to pay. Of course this is largely dependent on your driving record, marital status, car you drive and where you live (you may want to check some auto insurance quotes from different providers)

You may be laughing at of few of these or maybe even be turning a shade or two red with embarrassment.

Regardless, it’s important that you understand just how the insurance process works, so that you can make sure you get the coverage you need and for all the ‘right’ reasons. ]]> http://www.insurancehits.com/blog/befuddled-auto-insurance-lies.html/feed 0 http://www.insurancehits.com/blog/expecting-home-insurance-premium-increases.html http://www.insurancehits.com/blog/expecting-home-insurance-premium-increases.html#comments Wed, 01 Jun 2011 14:46:44 +0000 LynnKees http://www.insurancehits.com/?p=952 The tornadoes the Midwest is currently experiencing are scary and dangerous. Unfortunately, they also aren’t something that a homeowner can really guard him or herself against. While building code compliance can ensure that you are less likely to lose your roof in a fierce storm, tornadoes are so destructive that often, there is absolutely no offensive measure for a homeowner to take.

While clean up, loss and insurance claims are all expected after effects of tornadoes and other storms, there is another after effect that is generally felt by more individuals that those who actually had storm or tornado damage and that is: premium increases upon renewal.

Many southern and coastal state residents deal with this after a busy hurricane season. Even those who have not had a claim will often feel the pinch of universally increased home insurance premiums. Analysts are not expecting home insurance rates to jump too substantially next year, but since we are just now getting into hurricane season, the combined damages faced by insurers could definitely have a significant impact on future rates.

To guard against this risk, it is important that you compare home insurance rates every year instead of just accepting your current insurer’s renewal premium rates. In addition, you can stay abreast of code changes and building material improvements so as you renovate your home’s roof, windows and storm shutters, you can get the most sturdy and protective materials out there.

Lastly, it is important that you monitor rebuilding expenses in your area as well as the value of the contents of your home. This will ensure that you keep reasonable limits on your home insurance policy instead of paying for protection you don’t need or not getting all the insurance you could actually use.

So you may very well know that if you stop and compare auto insurance premiums you might save money, but rather than go to the phone, call your agent, fill out forms and get a few different quotes, you decide instead that time is a more precious commodity for you and you simply renew the same policy year after year.

By simply renewing your existing policy you may be saving time, but you could be throwing hundreds of dollars out the window each year – and hundreds of dollars must be worth just a little bit of your time, right? If you agree, then consider the value of online quoting systems that allow you to get adjusted quotes for your auto insurance quickly and easily, at whatever time of day you want to get them.

With online quoting systems, you get all the benefits of having a personal insurance agent looking for quotes from various insurance companies, but it only takes a few minutes and you can do it by yourself, from the comfort of home. You can do it at 3 AM if that is the best time for you to compare rates.

Saving money on auto insurance and other types of insurance is an easy way to help get your financial future on track. It ensures that you get the kind of coverage you are looking for without a premium that breaks the bank and waylays your savings. Luckily, with the internet, it’s also become extremely easy and fast – so why not compare auto insurance quotes today?

But when you compare auto insurance rates, it is a good idea to think about value too – not just whether or not you can afford to pay the monthly premium or you whether or not you have found the lowest price. Because if the premium you pay each month doesn’t give you a value that you respect, then it is really just throwing away money you probably can’t afford to lose.

The value your auto insurance policy offers you can be hard to quantify. The best way to look at it is to consider how much protection it offers your overall financial picture. For instance, an auto insurance policy with a $1,000 deductible for property damage liability and a $10,000 limit is not only going to expose you to $1,000 worth of financial responsibility for every incident, it is also going to require you to pay damages that exceed $10,000 – which can easily happen with many of the newer model vehicles. But a more expensive policy with a $500 deductible and $20,000 limit for property damage liability offers you more protection, and more value, with a higher premium.

Auto insurance can ensure that you don’t need to dip into your personal coffers in order to reimburse someone else, or yourself, for the damages done in a car accident. This is a value almost beyond measure when trying to consider future risk of accident and the costs that could be involved.

A popular type of estate planning strategy is to use a trust to hold assets and dictate their distribution. Many individuals like the idea of putting their life insurance policies into a trust. It’s not necessary to do so, but it can have a few advantages:

1. Irrevocable trusts can keep assets safe from creditors: In some cases (including divorce) irrevocable trusts can keep your assets safe from creditors. This is important only if you have a life insurance policy that accumulates cash values.
2. Trusts can spell out conditions: If you make a trust the beneficiary of your life insurance policy, then you have more control over when your heirs get the death benefit proceeds. You cannot stipulate these conditions on the policy itself.

With that said, there is no need to have a life insurance trust in place. Life insurance policy death benefits are federal tax exempts and do not need to go through probate. Since those are two of the most important priorities for most individuals, knowing that you don’t need a trust in order to achieve them should help you decide whether or not that’s a priority in your life, because trusts aren’t always easy to create. You need to find and appoint a trustee, have the papers drawn up, and deal with gifting issues when you decide to appoint one as the owner of a life insurance policy that you are still paying premiums for.

So consider all the angles carefully and make sure a trust works with your goals and priorities before you go to the trouble.

Cutting your expenses after retirement is a good, and often necessary, idea. But it can be difficult to figure out which expenses can be cut and which can’t. Obviously living expenses like rent, mortgage, property taxes and electricity will remain. Your electricity use can be handled conservatively, but you’re still going to pay that bill.

One expense that a lot of post-retirees go for is life insurance. Assuming that their heirs will simply get the leftovers of their retirement savings, many post-retirees cancel their life insurance policies and take the cash surrender value. This saves them their annual premiums, for sure – but it’s still not always a good idea.

First, the annual premium on a life insurance policy is an investment in the future of your heirs that is rarely substituted by the value of your remaining retirement funds after death. And if you have significant retirement savings to pass on, life insurance death benefit proceeds can help cut some of the tax obligations your heirs will have. Additionally, life insurance death benefit proceeds do not need to go through probate court, which your retirement savings likely will.

Finally, life insurance policies give you a little mental relief from the obligations that leaving something behind create. It’s one thing to be conservative about post-retirement spending because you want to conserve your savings for you – and it’s another thing to be concerned about trying to leave a legacy for your family. With life insurance, you don’t need to give that a second thought.

Step 1: If possible, bring your car to the shoulder of the road. If you can do so safely, take a picture of the scene before you move the cars, and definitely take pictures after moving the cars. Remember that blocking traffic and moving around the wreckage could be dangerous. So if your cars are still mobile, move them to the shoulder and out of everyone’s way.

Step 2: Call the police. Unless it was an extremely minor fender bender, you should probably call the police to your accident to get witness statements and assess the scene and damage, making your insurance claim more accurate.

Step 3: Call your insurance company. They may have an adjuster who can come to the scene and write up a report about the damage and maybe even arrange for another vehicle for you. If you don’t have auto insurance, or if you think your coverage may be insufficient for real damage caused by an accident, get a new auto insurance quote now. After all, auto insurance may not keep you physically safe, but it can keep you financially safe and guarantee proper medical treatment after an accident.

Step 4: Exchange information with the other driver. The other driver might be responsible for some damages, or may need to be reimbursed by your insurer, so be sure to get their information.

Step 5: Do a safety check of your vehicle. If you think that the damage was relatively simple and that you can drive your car rather than call a tow truck, make sure you walk around the car prior to driving away and that you conduct a safety check. Check your tires and your lights, then check for any hanging car parts or loose parts.

We’re not surprised by much of the talk we see, and actually – it inspires a lot of the blog posts we have each week. But there is one thing that does surprise us, and we can’t understand why it keeps happening. Are you ready? Okay, here goes:

We’ve noticed that a lot of people have purchased phone insurance for their smart phones. This insurance covers lost and damaged phones and, since smart phones cost several hundreds of dollars, it certainly makes sense. But about as many people mention having phone insurance as mention not having life insurance.

Now, this confuses us. Admittedly, we are insurance geeks here, but still – it seems that insuring your life and providing a death benefit to those family members that outlive you would be at least as important as having phone insurance, if not more so. And while phone insurance is cheap, term life insurance can also be a very inexpensive way to deliver a much more substantial benefit to your heirs than phone insurance delivers when you crack the screen of your smart phone.

Phone insurance can cost about 10% of the cost of your phone – every month. Life insurance, on the other hand, can give you tens, or even hundreds, of thousands of dollars worth of protection for just a little bit more than you currently pay for phone insurance.

So if you have phone insurance, but no life insurance, why not get a quick quote for a term life insurance policy and see just how cost-effective this coverage can be?

1. Name a beneficiary. Life insurance death benefit proceeds do not need to go through probate – unless they are left to an estate. So if you have left your primary beneficiary election black or wrote in, “Estate,” then you could cause your family a lot of additional grief after your death. Talk to your insurer about naming a beneficiary so that you heirs can utilize the death benefit proceeds quickly after death, instead of waiting through probate.
2. Name a contingent beneficiary. Many people leave their contingent beneficiary choice blank on their life insurance application, assuming that they don’t need to make that election. Unfortunately, if your primary beneficiary passes away before you, then your lack of naming a contingent could be making it difficult for your beneficiaries by putting them into that same probate situation outlined above. Name a contingent beneficiary and you can avoid this.
3. Put copies of your policy with your other estate planning documents. This will make it easy for your family to find the policy and insurance company contact information after you’ve passed on.
4. Set up auto draft payments. It’s easy to forget to pay your life insurance premium, especially since it isn’t something you will use as often as all the other types of insurance protection you have. Go ahead and set up an auto draft either through your bank or the insurance company so you can keep your policy in-force, even if you forget about it.
5. Create an annual review reminder. Your life insurance needs don’t stay static – they change almost every year as you reduce or increase your debt, as your kids get older, as you have more kids, as your net worth grows or shrinks, etc. Make an appointment on your calendar to update your life insurance policy annually.

But insurance is all about risk for you AND the insurance company. While the insurer gets to spell out all the terms of the contract, and you just agree to the terms by making payments, when it comes to risk, you and the insurance company are equal partners because you both assume some risk when you have an insurance policy.

Your risk is broken up into three things: deductibles, limits and premiums. Deductibles serve as some risk to you because if your insurable event costs as much as your deductible is, then you will be required to pay for it.

Limits expose you to a bit of risk because, if your claims damage exceed the limits of your policy, you will not get any insurance company reimbursement for the amount and will need to pay them out of pocket. Of course, you can avoid this if you have an umbrella policy.

Insurance premiums are a sort of risk because it is possible that you may pay your premiums, year after year after year, and never actually have a claim. To many individuals, this makes insurance a “waste.” But the risk is what you need to pay for protection against what COULD happen. This is not a waste; it is simply the way that insurance works.

Coverage is the mainstay of insurance company’s risk. For example, let’s take a look at auto insurance. Your auto insurance coverage may go so far as to offer you reimbursement for a car that is totaled. That means that after just a few small auto insurance premiums, your insurer could be responsible for buying you a brand new car.

Put a disposable camera in your glove compartment: A picture of an accident scene can tell your insurance company a lot about the damage your car suffered and who was likely at fault. If your cell phone doesn’t have a camera, then put a disposable camera in your glove compartment in order to ensure that you can capture photo evidence if you are ever in an accident.

Save up for your deductible: If you have a deductible, then you have a responsibility to pay a certain portion of the damage that your next accident causes. Start saving up for your deductible now so that you have the money available if an accident actually occurs.

Upgrade your anti-theft system: Not only will an anti-theft system help prevent your vehicle from being stolen, it will also give you discounts come renewal time. If you already have an anti-theft system, consider upgrading it or adding additional measures.

Download apps: The cell phone is a major distracter and is responsible for many car accidents. Download an app that sends an auto text to anyone texting you while driving, that you are busy and will get back to them when it is safe for you to text. Some insurance companies offer discounts for the use of these apps and even if yours doesn’t – you will still reduce your risk of accident.

Take a defensive driving course: A defensive driving course will teach you how to better react to other drivers and reduce your risk of accident. It will also bring auto insurance discounts.

Insurance companies have to be able to limit their risks. When you pay a few hundred dollars for an insurance policy that could pay out thousands when a claim is made, you realize that insurers have to exclude certain items in order to preserve their bottom line and ensure that they have enough money collected in premiums to pay all claims they receive.

But travel insurance policies aren’t the only policies subject to unexpected exclusions. Life insurance policies also have exclusions that you should beware of. While we can’t generalize, since all insurance companies have their own operations, we can tell you that the following items are generally excluded from coverage:

Acts of war, terrorism, or civil unrest: If you die due to an act of war, civil unrest or terrorism, your death claim might be excluded.

Suicide: During the first two years you can expect your life insurance policy to have a suicide exclusion to prohibit you from buying a policy with the intent of committing suicide so your family can benefit.

Death during illegal activity: If your death occurs while you are in the process of engaging in an illegal activity, it will likely be excluded.

In many states, these exclusions are only in effect during the first two years that you have a policy. Be sure to read your life insurance policy fully to find out if these exclusions or others are included in yours and for how long.

While a traditional auto insurance policy won’t always cover these specialty vehicles, the auto insurance companies that you get auto insurance quotes from usually will under a different type of policy. It might be considered a watercraft or recreational policy, but you can generally find this information when you look for traditional auto insurance coverage.

You might think that your limited use of the recreational vehicles you own makes it unnecessary to even bother with insurance, but you really need to rethink that stance. Recreational vehicles are often involved in accidents, injury and property damage. Sometimes, that’s the result of the user’s inexperience in handling a vehicle they don’t use often. Other times, it results from the fact that recreational vehicles often canvass unfamiliar and slightly dangerous terrain like water and snowy embankments.

There’s no point in ruining what can be a perfectly fun weekend by having an accident in your snowmobile and realizing that you have no insurance coverage to pay for medical treatment or the replacement/ repair of the craft. Instead, when you compare auto insurance rates, look into the appropriate coverage for your recreational vehicles as well. Balance out your deductible and limits to help create a monthly premium you can afford, then go forth and have fun!

1. Read your policy: Does your policy provide coverage for acupuncture or other alternative treatments? Does it provide full benefits when you see the doctors you already have a relationship with? Does it have any discount vision or dental benefits included? You will never fully utilize all your policy’s benefits unless you take the time to actually understand them. Also, to avoid activities that would NOT be covered, you also need to read your policy.
2. Get your checkups: Much like a car, your body needs regular check-ups to catch potential illnesses before they spread or become untreatable. By getting regular check-ups you ensure that you can get treatment for problems before they hit the large scale, and before they become pre-existing conditions that result in additional premiums.
3. Save for your deductible: If your plan has a deductible or coinsurance amount, then these are amounts that you will need to pay out of pocket each year that you spend a certain amount on your health insurance expenses. Deductibles need to be met before your insurance company will pay anything toward a claim, and coinsurance amounts are the portion of the medical expenses you must pay alongside what your insurance company pays.

Remember, you are paying for the policy so you should use it and plan around it as you would any other financial asset.

Some of these commercials are very funny. My personal favorites are the mayhem commercials, which have a sardonic twist that always makes me laugh. And while you might have your own personal favorite auto insurance commercial, it is important that you not pick an auto insurance policy based on the commercial that the insurance company puts out there.

It’s nice that ad agencies and marketing departments are trying to develop advertising materials that inform and entertain, but that doesn’t mean that the insurance policies offered by one company producing great commercials are a better choice for you than another company that isn’t. So rather than make your choice based on commercials, compare the costs of all auto insurance companies before you buy a policy. Check on the rates and compare the coverage options you get with each rate. Be sure to make sure you have chosen comparable limits and deductibles when you compare rates, and look to see if the deductibles and limits are reasonable for the claims expenses you are likely to endure. You should also take a moment to look at the AM best ratings of each insurer before you choose in order to see if one is more financially stable than another.

Enjoying a commercial is one thing; buying insurance is another. Don’t confuse the laugh out loud talent of some commercial writers with a representation of quality in an insurance company.

Fortunately for Frankle, he realized in time that the financial needs of his family had changed – whether that change was due to inflation, increased standards of living, or even just increased financial needs associated with aging.

But most people aren’t so lucky. Many consumers look at life insurance as one of those policies you buy and then forget about. Pay the premium every year, and you never worry about it again. But your life insurance policy will probably need to evolve just as your entire financial plan does.

Some things to consider when weighing whether or not to update your life insurance policy include:

1. Has your income increased? As your income increases, generally, so does your standard of living. This means that your family may need more money after your death to keep them living in the style that they become accustomed to. If your income increases and your lifestyle (and spending) remain unchanged, then you can probably keep your policy unchanged.
2. Has your debt increased? The more debt you have, the more of your death benefit your family will need to spend paying it off after your death. If your debt is higher than it was when you purchased your policy, you may want to consider buying an additional policy or increasing the death benefit of the policy you have.
3. Are you meeting your savings goals? If you are having trouble saving as much money as you had planned in order to pay for your children’s college education or retirement, then consider the tough spot your spouse will be in if you should pass away. Increasing your life insurance policy death benefit to compensate for missing savings goals can help.

So every year that you review your financial plan, remember to also review your life insurance policy.

1. Take pictures. You should take pictures of your stuff – you know, the stuff that is covered by your home insurance policy. That way, if it gets ruined during an insurable incident you can show the company what was ruined and what condition it was in before the event. This will help make sure that you get reimbursed sufficiently for your loss. Once you take the pictures, be sure to store them somewhere safe and send a copy to your insurance company and your agent.
2. Store your policy. If you ever need to make a claim, then you will need quick and easy access to your policy. Store it in a fire-proof safe or offsite location that you can easily access.
3. Start thinking about discounts. Your home insurance policy is renewed annually. That means that you will get an entirely new premium next year. So this year, start thinking about ways you can get discounts on your policy when you renew it.
4. Compare costs. Just because the policy you bought was the best, most affordable policy this year, that doesn’t mean it will always be the best choice. Compare insurance premiums annually to make sure that staying with the company you initially chose is a good idea.
5. Set up automatic premium payments. If you don’t pay your policy annually, then you may forget to pay one month and end up with a lapsed policy – not a happy thing after an insurable incident. To avoid that, set up automatic payments for your home insurance policy.

Sometimes, when people get a job that offers them a group life insurance policy, they decide to “surrender” their existing life insurance policy. That means they stop paying the premiums and instead ask for the policy to be cancelled and a check written to them for the amount of the policy’s cash value.

But surrendering a life insurance policy is a big decision, and if you are considering it, you should think about the following:

1. How expensive will it be to replace the policy? Sure, you might have a cheap group life insurance policy while you are with this employer, but once you leave you generally cannot take the policy with you. So how expensive will it be for you, with your increasing age and worsening health, to get a new life insurance policy? Compare life insurance rates now just to get an idea.
2. Can you afford a new premium if you lose your job? After a job loss, you might not be able to afford a new premium – but the cash value you’ve accrued in your existing policy can work as a loan to pay your premium until you are employed again if you keep your current policy.
3. Can you get another policy? If you leave your employer and lose the group life policy, will you even qualify for a new policy? Some health conditions and medication combinations could result in underwriting declining your application.
4. Are you ready to go through another contestability period? After two years, there is very little your life insurance company can contest when your death claim comes in. If you let go of your existing policy and eventually leave your new employer and lose that shiny new group policy, then you might need to take out a graded death benefit policy that affords your heirs no benefits for the first 12-24 months no matter how your death occurs.

Don’t take chances with the financial future of your family. Keep your insurance policies and don’t expect a group insurance policy to be a life-long solution. If you don’t already have your own life insurance policy, get a quote for life insurance coverage today.

Have your policy ready

Before you call your insurance company, make sure you have your policy at hand. You will need to give the customer service individual your policy number and he or she may refer to parts of your policy when explaining your benefits to you.

Be prepared to answer personal questions

Before the customer service representatives will talk to you about your policy, you must verify some personal information that only you would know, like your social security number. While you might think this rule is too restrictive, it protects your privacy and ensures that the insurance company doesn’t accidentally give out sensitive information to someone you wouldn’t want to have it.

Send in a power of attorney for anyone else you want to be able to call

If you’d like to allow one of your family members the permission to call and ask questions about your health insurance policy, then you should have a power of attorney on file with the insurance company with the individual you want to be able to call as the power of attorney. If you aren’t comfortable with that, then you might call the insurance company and find out what proprietary authorization forms are required for this.

What does the owner get?

The owner is the only individual who is permitted to make changes to the policy. They can change the primary beneficiary, contingent beneficiary, and assign ownership to another individual, or even a company. The owner can also borrow from the cash value in the policy and even surrender the policy so that there is no more policy or death benefit to speak of.

Additionally, if you have a question about the policy and try to call the insurance company to ask inquire about it, the insurance company will not be able to talk to you if you are not the owner. Because technically, even though you are the insured on the policy, it is not your property.

Why You should Rethink NOT being the Owner

For these reasons, it might not be a good idea to assign ownership to another individual. Think about it, what if you name your spouse the beneficiary of your policy, then you divorce? What could happen to your policy then? Or if you have a major falling out with the relative that you entrust with the ownership of the policy?

It is never a bad idea for you to secure control over your own life and insurance. If you think that you might become incapacitated at some point and want to be able to have someone else step in to control your policy when you are, you can appoint a power of attorney to take over or you can make a revocable trust the owner and then the secondary trustee will take over when you no longer can.

1. If you lose weight, you can save money on your life insurance premiums. When you look for life insurance quotes, the rates that you are quoted will vary depending on how much you weigh. The closer you are to an ideal weight based on your height, the lower your life insurance premiums will be.
2. You will save money on health insurance premiums: No longer is your life expectancy shortened when you are overweight, but your overall health expectations are low. You will generally be more expensive to insurance when you are obese or even slightly overweight because you are at greater risk for heart disease, cancer, high blood pressure and diabetes. With a lower weight, your health insurance quotes will be greatly reduced. In addition, as you work out you will reduce your cholesterol and improve your blood pressure organically – without medications. That means that you will have better results at your doctor’s office and when your health insurance underwriter reviews those items, it will factor in to a lower premium.
3. You might save money on auto insurance premiums: If you drink and drive, not only are you doing something illegal, you are doing something potential dangerous that could result in an accident. Even having just one glass of wine with dinner can affect your ability to drive responsibility and can result in your having an accident. This accident would likely result in higher auto insurance premium rates.

Stay on top of your New Year’s resolutions and watch your weight fall off, your body get healthier and your wallet get fatter!

You’ve read the policy and you know you can afford the deductible.

You know what your home and property are worth, so you know that the limits on the policy are acceptable.

You can afford the premium and you have already paid the policy up for the entire year.

You are safe and your family is protected.

Or is it?

Often, policyholders don’t realize that having a home insurance policy alone is not enough to actually protect their home and possessions from all the perils they face. Why? Because home insurance policies do not cover certain perils like earthquakes, landslides and floods.

In order to ensure you have coverage in the event that a natural body of water overflows and floods your home, or an earthquake occurs and shatters your home’s foundation, or a landslide ruins the walls, windows and security of your home, you need to either cover these perils through an additional insurance policy or talk to your agent about having additional coverages added to your home insurance policy in order to give a wider range of protections.

But in addition to the uncovered perils listed above, you may also need additional coverage for other small things that you might not even have considered – and that your policy doesn’t necessarily point out as missing. Like debris removal for taking out fallen trees and other debris after a hurricane, collapse and sinkhole damage coverage, insurance for building additions and more.

If you aren’t sure what your policy doesn’t cover, and reading the policy doesn’t help you understand, then you should call your insurance company. They will be able to explain to you the perils covered based on your insurance policy class. And if you are just now getting insurance quotes for rates on a home insurance policy, then be sure to consider including these coverages in your quote request.

As we’ve mentioned before, the goal of insurance is to make you whole after an insurable event. If you own a home and it catches fire, making it no longer inhabitable, the home insurance company is going to give you the amount of money you need to rebuild it or to replace it – as long as you have enough insurance to cover this. But if your home insurance limits are higher than the cost to rebuild or replace your home, then you aren’t going to get the “extra” money. All that happens when you over-insure yourself is that you allow the insurance company to take premium dollars that are not going to be valuable to you in terms of future insurance dollars.

So how do you avoid being over insured? The first way is to have a basic understanding of how much your stuff is worth. This is especially important when it comes to the contents of your home and the value of your car. These items can be valued two ways:

• Objectively: This means that you have an actual understanding of their book or replacement value based on research and an unbiased consideration of their condition.
• Subjectively: This means that you LOVE the items and their value – to you – is commensurate with how much you love them rather than how much they would be worth to a third party.

So be objective when putting a value on your things and review your insurance policies every year so you can make sure that you avoid wasting money being over-insured.

In order to try and even the playing field (Sure, more psychic underwriters would be the best way to even the playing field, but is that really a practical business strategy?) insurance companies look to more and more applicant-specific data in order to help them sort the good risks from the bad risks. One of the ways auto insurance companies do this is by checking the credit score of the applicant or checking the auto insurance score. The auto insurance score is derived from a combination of factors including your actual credit score.

Until now, the auto insurance credit score was a bit of a mystery to consumers who were not privy to the proprietary methodology used by insurers to develop the score. Now, an estimate of this score is available on the consumer credit tracking online system, CreditKarma.com.

While CreditKarma.com does not have access to each insurance company’s actual method for creating an insurance credit score, this tool does give you some idea of what to expect and how you are seen in the eyes of an insurance underwriter – which you might appreciate, unless you are psychic.

1. Can you get approved for individual health insurance? If you have a pre-existing condition then there is every possibility that you will not be approved for an individual policy. In that case, signing up for COBRA and avoiding any breaks in your coverage is vital.
2. Is an individual policy cheaper than COBRA? COBRA has a reputation for being expensive – but don’t just assume that your COBRA coverage is greater than the cost of an individual policy. Instead, get the rates on comparable policies and find out the truth. Make sure you compare like policies – for instance, if your COBRA policy is an HMO plan with no deductible, don’t compare the premium with that of a high deductible plan as you will be comparing apples to oranges.
3. Are your COBRA benefits better? There may be certain benefits to keeping your existing policy through COBRA, especially if the policy’s benefits are better than any you can get on your own. Consider those benefits that are most important to you and compare the two.
4. Will the overall cost (premiums and treatment) be cheaper on COBRA? Let’s say you are faced with a $400 a month premium on COBRA but can get a high deductible plan for just $200 a month. That might sound great but if you have a chronic condition that requires medications, tests and doctor visits on a monthly basis, then the cost of the premiums along with your deductibles could easily – and quickly – outpace COBRA premium payments.

Don’t play with your health and well-being. Do your research and make sure you make the best decision for both your wallet and your body.

There are two types of beneficiaries you can name on your life insurance policy. The first is the primary beneficiary. The primary beneficiary is one who will receive the death benefit if they are still living after your death. The primary beneficiary is the ultimate person (or persons) who you want to receive the death benefit. In your mind, they are the highest priority for receipt of the benefit.

The next type of beneficiary you can appoint is a contingent beneficiary (or beneficiaries). The contingent beneficiary is the person (or persons) who receives your death benefit if the primary beneficiary dies before you do.

Many people believe that it is unnecessary to name a contingent beneficiary – I mean, after all, how likely is it you will outlive them? And if you do – you can just remember to change your primary beneficiary on your policy

While many people don’t think of it this way, life insurance can actually give you an amazing method of creating a legacy and protecting the assets within your existing legacy. Think about it, your heirs may have bills to pay after your death – estate taxes, burial expenses, and bills that you leave behind. They may miss work while trying to settle your estate and even have to dip into their own savings and incur fees and penalties to maintain your estate and pay lawyers while everything goes through probate.

Life insurance proceeds do not go through probate and are not subject to federal or estate taxes. They can be given to your beneficiaries very quickly after your death and can be the perfect financial vehicle to bridge the gap in time that probate court creates. They can even cover all the expenses and taxes created by the rest of the assets you want to transfer. Life insurance proceeds can also provide your family with the means to give you the funeral and burial that they want to give you – without putting any undue financial stress on them. You can even use your life insurance death benefit proceeds to create a trust for your children and grandchildren that pays for their education expenses.

No matter how you choose to allocate them and whether you choose to make them part of a trust or not, life insurance proceeds are a valuable and necessary resource for your family after your death.

But a lot more happens with your premium that just salaries and profits. Your premiums work toward advertising, financially securing the company against claims, creating reserves that pay for claims, paying agent commissions, paying the salaries of customer service representatives and other employees and developing better technical systems and new policy types.

So should you be concerned about the profitability of your insurance company? As with any business, profit is needed to keep an insurance company afloat. Profit is necessary to keep employees paid that provide continued servicing of your policy, to pay the claims of policyholders and make good on the benefits and promises made on your policy.

But that doesn’t mean that you have to be comfortable with an insurance company that pays its employees bonuses that you find unreasonable. When you shop for insurance and check on your insurer’s financial stability on AM Best, you can take another step and do a little research about the bonuses and salaries paid to its executives. By reviewing an insurance company’s annual statement and form 10-k, you can get a sense of how the insurance company is spending its money. When you do, you can determine whether or not you are comfortable with its choices, profit and reinvestments before you decide to buy an insurance policy through them. Remember, it’s your money and your premium; if you don’t feel comfortable with an insurance company, you don’t have to spend your money with them – there are plenty others to choose from.

But beyond the discount it can score you–is it really worth it to take one of these classes? After all, don’t you have better things on a Saturday afternoon like playing with your kids, grocery shopping, watching college games or… sheesh, just about anything? You may be surprised to find out that a safe driving course is actually a very helpful way to spend your Saturday afternoon – whether you care about the auto insurance discount or not.

Safe driving courses help you learn how to be a safe driver. They aren’t just token classes that you sleepwalk through in order to earn your auto insurance discount; they actually reward you with real-life skills that you can take with you to keep you, your family, and other drivers safe.

During the class (which can last just a few hours or can be intensive and extend through multiple days) you will learn how to react to the unpredictable actions of other drivers, how to deal with inclement weather, what to do when the unexpected happens and how to stay calm and controlled in the face of a possible accident.

Best of all, the class increases your driving confidence. You won’t have to worry about how to react when something happens; instead, you will have the confidence and practical experience to show you that you KNOW what to do. And that kind of confidence keeps your head cool in an emergency, a benefit that can make a big difference in your level of safety.

1. “You can’t buy a life preserver when you’re drowning”: I can’t take credit for this statement, as another life insurance professional once said this to me when discussing his conversation with a client. And you know what? He’s right. That’s why it’s so important to have insurance now rather than later. You need a policy in place so that when you have an insurable incident, you’re covered. It’s too late to buy insurance once the incident has already occurred.
2. It’s more expensive to fix a problem than to safeguard against it: monthly insurance premiums may seem like a big bite out of your budget, but it’s a lot cheaper to pay them than it is to pay for the repair costs after a car accident, pay medical bills out of pocket, or pay for the rebuilding of your home.
3. Rates just keep rising: Whether rates rise because your age and health change or because of the regular annual increases insurance companies inflict – insurance rates go up continually. Getting insurance now can help you lock in rates on certain types of insurance for life, and at least for the policy term for other types.

I don’t know about you, but when I compare the big amount to the little monthly amount, it can get pretty tempting to just pay the small amount each month rather than take a big chunk of change out of my savings account to pay the annual amount. After all, it makes me feel better to have a high amount in savings and taking a chunk out for each insurance policy can make you a little sad.

But there are two important reasons why you need to reconsider this stance:

1. A single annual premium payment saves you money: When you pay your insurance policies with installment payments, the insurer usually tacks on a small fee for the pleasure of being able to do so. While this additional fee might not be much per installment, it adds up over the course of several years.
2. You have less chance of lapsing: When you pay your insurance policies by installment, you have that many more opportunities to forget to make a payment, or to make a payment late, and lapse your policy. Why give yourself that opportunity?

If you pay by installment, you might just want to reconsider that stance so that you save just a little bit more money on your premium and so that you have less risk of being late and losing your valuable coverage.

Okay, so maybe this isn’t the absolute worst way to get acquainted with the claims process, but we needed an interesting segue to introduce today’s topic – so we went for it.

Winter is right around the corner, and that means you need to start getting your home ready and safe for the cold, snowy months. While there are lots of things you should do inside to protect your pipes, furnace and whatnot, we’re actually going to talk about the outside of your house, because that affects your car insurance and your home insurance.

1. Shovel and salt: When every fiber of your being is urging you to stay inside – nice and warm – you can come up with a lot of convincing reasons not to clear the walk. But having someone trip and fall out there, then sue your home insurance won’t make you feel very cozy so make sure your walkway is consistently shoveled and salt, cat litter or grit is used to make it less slippery.
2. Clear snow banks: When you shovel your walk or your driveway or your street is plowed, piles of snow can accumulate on the edge of your lawn. These piles can block your visibility so you can’t see who’s coming or going as you pull out of your driveway.
3. Be careful who you hire: If you hire someone to shovel your walk or your driveway and they are injured in the process, they can put a claim against your home insurance policy. Make sure they wear a weight belt around their back while they shovel, that they are dressed properly and have proper shoes, and that they use their legs to lift rather than their back.
4. Watch sledding activities: If you have children and they invite their friends over to sled in your yard, be sure to monitor their sledding area to make sure it’s safe. Naturally, it’s a bad idea for them to sled down snow banks that lead right into traffic or that end close to a building or automobile. Crashing into stuff does not have to be part of the sledding process.

As difficult as it can be, talking to your partner about life insurance is extremely important. When you don’t, you leave each other with little to no preparation in the event of death and you could be setting each other up for financial ruin. Here are a few tips to help make the talk easier:

1. Set a date and time. Life insurance may not be a topic that you want to simply spring on your partner. Instead, set a date and time when you both will agree to talk about it. That allows you each to get prepared.
2. Write down what you want to say. If talking about life insurance and the possibility of death make you nervous, then write down everything you want to say during your meeting about life insurance with your partner. That way, you don’t have to worry about trying to remember everything when you have the talk.
3. Don’t talk about the meaning of life. At its core, life insurance is simply a product that supplements a lost income. That’s it. It’s not a religious, emotional or spiritual item any more than your car or home insurance are. So don’t make more out of the topic that is necessary. Talk about needs and plans that will follow the death of each of you and then try and choose the type of policy that will fulfill those needs and fits your budget.

While the majority of insurance agents out there do not sell just for commission’s sake, it is always a good idea for a consumer to be armed and educated when walking into a meeting to buy health insurance, life insurance, auto insurance or home insurance. Here are just a few easy steps to help you arm yourself.

1. Get educated. Read articles about how insurance works, what kinds of coverage are available (or required in your state) for each insurance type, and understand the benefits that would most help you and your family.
2. Write down your priorities. Here at InsuranceHits.com, not only do we have educational articles to help educate readers, but we also have insurance buying checklists that help you decide what type of coverage and how much coverage you need. While an insurance agent could point out additional coverage options that are attractive to you, these guides can help you ensure that your priorities are met.
3. Get online insurance quotes. If you get an online insurance quote for the coverage you are considering, you’ll be better able to compare that quote with the deal your insurance agent offers you. This will give you some idea about whether or not you are getting the most for your money.

Remember, every insurance company is different and agents can present coverage options to you that you haven’t read about online but that ARE useful to you; but having a basic knowledge and idea of cost as well as needs will make your meeting much easier and help you keep it on track to satisfy your priorities.

Net worth, in case you aren’t aware, is the difference between your assets and your liabilities. When you add up the value of everything you own and all the cash you have, then subtract the debt you owe, you will arrive at your net worth.

Net worth falling can mean many things – it may mean that debt is rising, cash savings are falling, or that values for investments like homes are lowering. But either way, it means that Americans have less access to money than they did before.

This might mean that it is time to double check all the deductibles on your insurance policies. After all, if your net worth is falling then you might not have as much money as you once did to pay for your deductibles. And borrowing money to pay deductibles (or charging them) makes them even more costly that they are to begin with because you must then pay interest on them.

So check your homeowners insurance, your health insurance and your auto insurance policies and add up all the potential deductibles you could be paying out-of-pocket in the event that you are victim to an insurable incident. If you do not have enough accessible cash to pay these deductibles then you might want to get new insurance quotes to see if you can find a less expensive policy with a lower deductible. While this may seem like jumping out of the frying pan and into the fire, it may actually be easier for you to pay the added monthly cost than the bulky deductible. But before you make any firm decisions, be sure to evaluate each option.

Premiums vs. Profit

While it may be true that insurance companies will need to spend more post-healthcare reform, it is also possible that they are taking advantage of the new laws to create even greater profits for themselves. It’s almost like the way oil companies work – have you ever noticed that when gas prices go up, the executives say that it is due to increased oil prices – but invariably, their company profits end up going up too? How does that happen? Well, they are increasing the price not just to accommodate for increased expenses, but also to lock in their profit on those increased expenses.

When prices go up as a result of increased expenses, profits should – in the least – be completely unaffected. But when profits go up too it means that someone is profiting off of the system, the increases, and the people.

When shopping for health insurance today, be sure to keep in mind the possibility that rates might need to increase in the future. While some of the hikes may be aggressive, chances are good that state and federal regulators will prevent insurance companies from becoming too greedy. But, as always, keep an eye on the news and pay attention to the tact your insurer seems to be taking. If you feel like your insurance company is becoming too aggressive and demanding, it may be tie to switch.

Here are 4 benefits of HSAs that might make a difference in your life.

1. Tax deductible contributions: Insureds are permitted to contribute up to $5,000 per year in their HSA – and these contributions are federal tax deductible. If you are in the 10% tax bracket, that means you will save $500 on your taxes simply by contributing to an HSA. Some states also allow the deduction to be applied to state taxes.
2. A medically dedicated financial account: If you have a hard time saving money, then an HSA can be a great tool to ensure that you have the funds you need to pay all your copay amounts and health insurance deductibles. Because this money can’t be used for anything else, it’s the perfect savings account for the undisciplined saver.
3. Create an easy and defined savings plan: It is easy to decide how much to save each month when you have a limited contribution amount. Knowing that the most you can add to your HSA each year is $5,000, you can easily split this into monthly or weekly contribution amounts.
4. HSAs roll over: There is nothing to worry about if you do not use your health savings account money every year, because the balance rolls over to the next year for use with eye doctor visits, prescriptions and other medical expenses.

During the last 5 years, home values have fallen dramatically – although this decline has been felt more severely in some states – but almost everyone in the United States has been affected. If your home is still insured for the amount your property was worth at the height of the housing boom, then you could be paying for insurance benefits that are no longer appropriate.

Consider this, in March 2007, the median sale price for new houses in the U.S. according to the U.S. Census was $262,600. In July of 2010, that number had dropped to $204,000. If you bought your home for the median price in 2007 and your insurance policy still offered that amount of benefit, then you might be over-insured by about 22 percent. What do you think making that adjustment would do to your policy premium?

But before you call your insurance company to reduce your amount of insurance, be sure to understand fully what rebuilding costs might be in your neighborhood. Depending on material supply, codes, and housing demand, you might be facing some stiff rebuilding expenses that make the additional insurance amount not only necessary, but vital. Since this is the number most insurance policies are based on, it’s important to be familiar with it.

Life Insurance for Retirement: The Pros

1. When you have a life insurance policy that accumulates cash values, you can take tax free loans from the cash values during retirement.
2. A life insurance death benefit can help your spouse accumulate enough funds to retire even after your death reduces his or her household income and pension benefits.
3. Variable or indexed policies can offer growth that mimics that of the stock market and individual equities.

Life Insurance for Retirement: The Cons

1. Life insurance cannot be held in an IRA, so you cannot get a tax deduction for contributions.
2. Life insurance premiums are restricted in order to avoid tax triggers.
3. Life insurance policies may not accumulate values as aggressively or as conservatively as other types of investments.
4. Life insurance policies that accrue cash value can be expensive, which reduces the rate of return.
5. Loans taken from cash values will reduce your death benefit and can adversely affect your heirs.

In general, life insurance policies should be purchased for use as life insurance – not as a retirement benefit. While it’s important to keep their advantages in retirement in mind, those should not be your sole reasons for buying a policy. Instead, keep your capital working for you in a proper retirement account with investments suited to your risk tolerance.

Like other pest problems, a bed bug infestation is not covered under your homeowners insurance policy. Any damage done by the bedbugs to your property, contents, walls or other areas will not qualify for any kind of claims payment from your homeowners insurance policy. Additionally, any expense you face to get rid of them and prevent them from causing damage to your home is uncovered – like all preventative maintenance needs your home has.

The reason for this is that bed bugs are not considered an insurable event. Like cockroaches and rats, they are preventable through routine maintenance and careful monitoring when traveling. It is your responsibility as the homeowner to take whatever actions and precautions are necessary to reduce the risk of a bed bug outbreak in your home.

Many apartment dwellers are feeling the pinch of bed bug infestations as well. Like homeowners, bed bug damage and removal is not covered under a renter’s insurance policy. It is also unlikely that your landlord’s policy will cover damages, although your landlord may be liable to reimburse you for damages and pay for removal expenses.

Although your policy may not cover your expenses, it is still important that you take the time and resources necessary to get rid of any infestations. The damage they can do to your possessions, your home and your spirit are too great to risk.

That is because Walgreens and a slew of other stores have opened up small retail clinics in their shops. These clinics work much like your doctor’s office and treat a number of small infections and illnesses from the common cold and flu, to bug bites and allergic reactions.

A visit to one of these clinics often costs less than $100, which is much less than a visit to your doctor or primary care physician’s office would be if you have a high deductible health insurance plan. In addition, they are usually much less crowded, have lower wait times, and – because the physician in attendance is only concerned with meeting your immediate needs – they are the perfect locations to visit when you don’t have a lot of time out for a real doctor’s visit.

Even if you don’t have a high deductible health insurance plan you may find a use for these clinics. In many instances, you will find that your insurance company covers the visit and you pay the same copayment as you would when visiting your doctor, but with all the benefits of less waiting time.

It is important to remember that these clinics are not meant for preventative care or routine physicals. You should see your regular physician for those items since he or she may notice subtle changes in your health through these exams that a retail clinic physician will not. But if you need a little allergy, flu or cold care, a retail clinic might be a great resource for you.

That is why your State Guaranty Association exists. The State Guaranty Association in each state guarantees that an insured can get the cash value of his or her policy or that the beneficiaries can receive the death benefit even if their insurer becomes insolvent when it’s time to pay.

Naturally, there are limits. The limits vary by state but are commonly capped between $100,000 and $300,000. You can visit our state specific insurance guide pages and find your state to see what your limits are. It’s also important to remember that guaranty associations are there to protect you from insurer insolvency, but not much more. If your policy lapses, you neglect to pay a bill or you insist that they didn’t send one, the guaranty association in your state won’t do anything to help you. They simply back up the payment of an insurer who has gone bankrupt – and only up to the limit. You will need to provide proof of a valid policy and comply with all other association requirements.

As always, the best defense for consumers is a good offense. And what that means for life insurance customers is that they should thoroughly research their insurance company before they buy insurance. You can do that by visiting the A.M. Best website to see their evaluation of your company’s financial security before you buy the insurance policy you are considering. A.M. Best studies the financials of insurers and assigns a letter grade to each company that represents how financially secure they are.

Your motor vehicle report is a report that shows your driving history. If you have had any accidents, speeding tickets, or other driving incidents, they will show up on the report. While it is normal to have one or two tickets, an excessive amount can indicate to underwriters that you are not a responsible driver and that your risk of an accident is likely increased. Since this also puts you at greater risk for death, it can and will affect your life insurance rates.

Generally, an insurance underwriter will charge you a flat extra or rated premium that results in an extra percentage of premium being added to your policy. You may ask your underwriter if you can have your rates adjusted if you show a clean driving record for a year or more. There is no guarantee that this will be approved, but it never hurts to try. Your best bet, however, is to make sure you always drive safely and responsibly and follow all traffic rules while you are out on the road so that there is no occasion for you to be pulled over or ticketed. After all, good behavior is your best defense against high insurance premiums.

An auto insurance quote is generally given for a standard automobile. The amount of the quote is determined by the limits, deductibles and coverages you choose as well as your driving experience and record. But with a classic car you have special insurance needs. The value of your car might exceed the limits of a traditional auto insurance policy. In addition, you might not drive many miles on the vintage vehicle and could be entitled to discounts.

Since many collectible vehicles lack the safety measures of newer vehicles, like airbags and automatic seatbelts, specialty auto insurance coverage can ensure that you are not overcharged for this. In addition, specialty auto insurance coverage can ensure that you are given total replacement value for your car, as long as you are insured to that level. Since collectible cars can have a value that far exceeds that of a normal vehicle, this difference can be significant.

Car collectors rarely stick to just one collectible vehicle. Some specialty auto insurance companies can offer breaks in coverage if you cover more than one collectible vehicle. These breaks (or discounts) can be significant since this coverage is expensive.

Lastly, special auto insurance coverage gives you access to insurance assessors who understand how to value the special vehicle you’ve purchased insurance for. When you have a claim, this is a significant difference.

Group insurance: In most states you can take out a group insurance policy for your small business if you have at least 2 employees to cover. Some states even allow you to take out group insurance for groups of just one employee. The smaller your group is, the more expensive coverage may be. Also, although rates are usually protected by rate bands, you could experience premium increases if your group has many health claims.

Individual insurance: If you are in good health, you can always turn to individual health insurance coverage. With individual health insurance, your health history will be considered in pricing and approving the policy so the better your health is the more affordable your policy will be.

Unions: If there is a union or other group associated with the type of work you do, you may be able to join the union and get group health insurance or discounts on individual insurance. Again, your health may play a part if you are looking at discounts on individual health coverage-but if your union offers group coverage then you will not be individually underwritten and you may not have any limitations or exclusions placed on your coverage.

If an insurable event should occur in your home, then you could lose every possession you have in your home. Your furniture, electronics, books, antiques, cookware, clothes-everything you have. While you look around your home you might not think that it would cost much to replace these items, but if you really consider that you could need to replace every single item you own, the cost of these items would be staggering. Even just replacing the toys your children treasure could cause a significant and damaging impact to your budget.

A home insurance policy that provides coverage for the contents of your home can take away much of the financial burden that a substantial loss could impose. It can help you get back on your feet and put your life back to normal after a disaster. Without this coverage, you might be able to get your home rebuilt or a new home purchased-but you won’t be able to furnish the home. All the touches that make your house a home would be missing-from throw blankets to beds, knick-knacks to bookshelves, dinnerware to area rugs. Not to mention the things you desperately need, like clothing, shoes and linens.

So no matter how much additional premium contents coverage causes within your home insurance premium, don’t skip out on the coverage and cheat your family out of the kind of protection they deserve. Get complete coverage that will help put your family back to rights after an insurable event and lessen the trauma that the insurable incident can cause.

Wyoming Auto Insurance

Wyoming auto insurance regulators have not required drivers in this at-fault state to get personal injury protection (PIP) coverage or uninsured motorist coverage. The state does require liability coverage, including a minimum of $25,000 bodily injury liability for a single person injury, $50,000 for a multiple person injury and $20,000 for property damage liability.

Wyoming Health Insurance

Wyoming health insurance regulators do not require the state’s health insurance providers to offer guaranteed issue policies to individual policyholders. The state does have a high-risk pool but, since they do not have state taxes, there is no deduction for health savings account (HSA) contributions on the state level.

Groups with 2 or more people can get group health insurance in Wyoming, but the pre-existing conditions of the members can be excluded for up to 12 months if they had a break in coverage over the past 6 months that lasted 90 or more days. Group health rates are restricted by rate bands.

Wyoming Home Insurance

Residents of Wyoming have a pretty easy time when it comes to home insurance. The state is not prone to any repetitive natural disasters and Wyoming home insurance regulators do not require residents to carry insurance. Of course, if you have a loan or mortgage on your home you may be expected to carry insurance by your lender. No matter how few natural disasters a state has, every homeowner is at risk of fire, water, mold, liability and theft and should have home insurance in order to protect their largest asset from these perils.

Wyoming Life Insurance

The Wyoming Life and Health Insurance Guaranty Association Act was created by Wyoming life insurance regulators in order to protect life insurance policyholders in the state from their insurer becoming insolvent after premiums are paid but before claims are paid. The act provides up to $300,000 in life insurance death benefits and $100,000 in cash surrender value to qualifying residents.

Wisconsin Auto Insurance

Until recently, Wisconsin auto insurance regulators did not require resident drivers to have auto insurance. The state now requires drivers to have at least $50,000 bodily injury liability for single-person injuries, $100,000 bodily injury liability for multiple person injuries and $15,000 for property damage liability. They do not require personal injury protection (PIP) and this at-fault state does require uninsured motorist coverage.

Wisconsin Health Insurance

Wisconsin health insurance regulators do not require health insurers to issue individual policies to people who are uninsurable. They do have a state high-risk pool that gives some recourse to those that insurers won’t touch. They do not, however, allow the deduction of health savings account (HSA) contributions from state taxes.

To be considered a “group” for group insurance purposes, groups in Wisconsin must have at least 2 members. Individuals within the group can have their pre-existing conditions excluded for up to 12 months if they have had a break in coverage of 63 or more days during the past 6 months. Group rates in Wisconsin are protected by rate bands.

Wisconsin Home Insurance

Wisconsin home insurance regulators do not require residents to carry home insurance. If you have a mortgage or equity loan on your property, your individual lender might require some coverage. Residents and homeowners of the state should be sure to have adequate coverage for tornadoes.

Wisconsin Life Insurance

The Wisconsin Insurance Security Fund was established by Wisconsin life insurance regulators in order to protect residents of the state against insurer insolvency. They provide up to $300,000 in death benefits and cash surrender value for qualified residents whose insurance companies have gone bankrupt.

West Virginia Auto Insurance

West Virginia auto insurance regulations require uninsured motorist coverage and liability insurance for its residents, but no personal injury protection (PIP) and is an at-fault state. Resident drivers are required to carry at least $20,000 in bodily injury liability coverage for single-person injuries and $40,000 for multiple person injuries. They also require $10,000 for property damage liability.

West Virginia Health Insurance

West Virginia health insurance is not issued on a guaranteed basis to individuals in the state, although HMOs with 50,000 or more enrollees that have been in existence for more than 5 years must have open enrollment for one 30-day period each year. The state also has a high-risk pool and allows health savings account (HSA).

Groups with at least 2 people are considered for group health insurance in West Virginia. Any individual participant who has been without insurance coverage for 63 or more days over the past 6 months can have his or her pre-existing condition excluded from coverage for up to 12 months.

West Virginia Home Insurance

West Virginia home insurance regulations do not require all homeowners to carry insurance. The state is prone to hurricanes so it is advisable that homeowners adequately insure their homes, even if they don’t have a mortgage, to protect against them.

Because residents of West Virginia have experienced repeat flooding, the Federal Emergency Management Agency (FEMA) is developing a grant program to assist some homeowners by either buying their homes and re-zoning the land for parks and other purposes that cannot be damaged by floods, raising their homes to be above flood waters, or relocating their homes.

West Virginia Life Insurance

In order to protect life insurance customers from insurer insolvency, West Virginia life insurance regulators created the West Virginia Life and Health Insurance Guaranty Association in 1977 to provide some benefits to qualified policyholders and beneficiaries whose insurers had gone bankrupt. They provide up to $300,000 in death benefits and $100,000 in cash surrender values.

Washington Auto Insurance

Washington auto insurance regulators do not require personal injury protection (PIP) or uninsured motorist coverage for their drivers but this at-fault state does require two types of liability coverage. Drivers are required to have at least $25,000 in bodily injury liability for single-persona injuries, $50,000 for multiple persona injuries and $10,000 in property damage liability. The state regulators also do not allow auto insurance companies to cancel policies or refuse to renew them because of the credit of the insured.

Washington Health Insurance

Washington health insurance regulators have created a health screening that requires insurers to offer guaranteed insurance coverage for individuals with a particular score on the screen. Those who fall below a certain score are informed about the state’s high-risk pool. Washington state has no state income tax, so there is no deduction on the state level for health savings account (HSA) contributions.

Washington health insurance group policy regulations allow any groups with at least 2 members to get a group policy. The insurers can exclude any individual’s pre-existing condition for up to 9 months if they had a 90-day or longer break in coverage over the past 6 months. Group rates are restricted by adjusted community bands.

Washington Home Insurance

Washington home insurance regulations do not require homeowners to have insurance, although tier individual lenders may. Washington residents should be ready to face the possibility of earthquakes and should make sure they have adequate coverage for that eventuality.

Washington Life Insurance

The Washington Life and Disability Insurance Guaranty Association was formed in 1971 by Washington life insurance regulators for the purpose of providing protection to the state’s consumers against insurer insolvency. The association offers up to $500,000 in both life insurance death benefit and cash values.

Virginia Auto Insurance

Virginia auto insurance regulations do not require personal injury protection (PIP) coverage for their drivers but they do require uninsured motorist coverage. This at-fault state also requires $25,000 in bodily injury liability for single-person injuries, $50,000 for multiple person injuries and $20,000 in property damage liability.

Virginia Health Insurance

With Blue Cross as the insurer of last resort, Virginia health insurance regulators have made up for the fact that there is no requirement for guaranteed individual coverage and no high-risk pool in the state. They also allow state income tax deductions for health savings account (HSA) contributions.

Virginia group health insurance can be issued to groups as small as 2-people and an individual’s pre-existing condition can be excluded from group coverage if they had a 63-day or longer break in coverage over the past 6-months. Exclusions cannot exceed 12-months and group insurance rates have no rating restrictions.

Virginia Home Insurance

Virginia homeowner insurance regulators do not require that every homeowner carry insurance. However, with the state’s risk of hurricanes and tornadoes and each homeowner’s risk of theft, fire and other incidents, home insurance is an extremely valuable coverage to have. It is also important to note that individual lenders have their own coverage requirement, so you should check your loan documents before deciding what kind of coverage to have.

Virginia Life Insurance

The Virginia Life, Accident and Sickness Insurance Guaranty Association, created in 1976, was Virginia life insurance regulator’s answer to the concern of some insurance consumers that their insurers may become insolvent and unable to pay claims. The association provides up to $300,000 in death benefits and $100,000 in cash values to consumers who qualify.

Vermont Auto Insurance

Vermont auto insurance regulations do not require drivers to have uninsured motorist coverage or personal injury protection (PIP) and it is not a no-fault state. They do require $25,000 in bodily injury protection for single-person injuries and $50,000 for multiple person injuries. They also require a mere $10,000 in property damage liability.

Vermont Health Insurance

Vermont is one of only 6 states that require insurers to guarantee the issue of individual policies. As such, they have no high-risk pool. They do allow the deduction of health saving account (HSA) contributions from state income taxes.

Small groups in Vermont with only 1-person can get group health insurance. Individuals within the group who’ve had 90-day or longer breaks in coverage during the past 6-months can have their pre-existing conditions excluded for up to 12-months. Vermont health insurance group rates are restricted by adjusted community rating.

Vermont Home Insurance

Vermont homeowners are not generally exposed to frequent tornadoes, earthquakes or floods, though they can get the occasional hurricane. Vermont health insurance regulations do not require residents to have home insurance but their individual lenders may. And while they may not be exposed to many natural disasters, Vermont residents can still be exposed to fires, snowstorms, theft and other insurable incidents that make insurance a valued asset.

Vermont Life Insurance

The Vermont Life and Health Insurance Guaranty Association was created by Vermont life insurance regulators in 1971 and provides up to $300,000 of death benefit and $100,000 of cash surrender values to qualifying policyholders and beneficiaries whose insurers have become insolvent and cannot pay claims.

Utah Auto Insurance

Utah is one of just a handful of states that does not allow insurers to cancel and auto insurance policy or refuse to renew one based solely on the credit of the driver. Utah auto insurance regulations require resident drivers to carry personal injury protection (PIP) and $25,000 in bodily injury protection for single-person injuries, $65,000 for multiple person injuries and $15,000 for property damage liability. This no-fault state will allow a single combined policy to meet its policy limit requirements.

Utah Health Insurance

Utah health insurance regulations call for insurers to have an enrollment cap that they must meet. This requires them to issue a limited number of guaranteed issue individual policy. Since not every uninsurable individual will get a policy, the state also has a high-risk pool and allows for a state income tax deduction of health savings account (HSA) contributions.

Utah health insurance regulations allow groups as small as two people to get group health insurance. Insurers can exclude a member’s pre-existing condition up to 12-months if that member had a 63-day or longer break in coverage over the past 6-months. Group rates are kept under control with rate bands.

Utah Home Insurance

A pit-bull attack in Hurricane, Utah is wreaking havoc with home insurance companies nationwide. Many in Utah are pushing for a state-wide ban of pit-bulls. No matter where you stand in the issue, it is important to remember that certain breeds of dog (including pit-bulls) can result in higher insurance premiums for you.

Utah home insurance regulators do not require residents to have coverage, although the individual lender they have their mortgage or equity loan may. No matter what, with all the potential liabilities and damages that could befall a Utah homeowner, it is not coverage you want to go without.

Utah Life Insurance

The Utah Life and Health Insurance Guaranty Association, created in 1979, was formed in order to protect Utah life insurance policyholders and their beneficiaries from insurers who become insolvent and can no longer pay claims. They provide up to $500,000 in life insurance benefits and $200,000 in cash surrender values to qualified consumers.

Texas Auto Insurance

Texas auto insurance regulations do not require the state’s resident drivers to carry uninsured motorist coverage or personal injury protection and it is not a no-fault state. But that’s where all the light Texas auto insurance regulations end. The state requires drivers to carry at least $30,000 in bodily injury liability for single-person injuries and $60,000 for multiple person injuries. In addition, they require $30,000 in property damage liability.

Texas Health Insurance

Small groups in Texas can get group health insurance if they have at least 2 members. Texas health insurance regulations require all prior coverage to be credited, but can exclude pre-existing conditions for up to 12 months.

Individual insurance policies are not issued on a guaranteed basis but Texas does have a high-risk pool for those who are uninsurable. The state has no income tax so there is no need to deduct health savings account (HSA) contributions from anything but federal taxes.

Texas Home Insurance

The past three years have been difficult on Texas residents and insurers with over $25.5 million in damages caused by weather. This has caused Texas home insurance rates to increase substantially. And while Texas home insurance regulators do not require homeowners to have coverage, the recent damage caused by hurricanes and tornadoes should indicate to residents how vital this coverage is.

Texas Life Insurance

The Texas Life, Accident, Health and Hospital Service Insurance Guaranty Association was created by Texas life insurance regulators in 1973. It protects the interests of life insurance policyholders and beneficiaries whose life insurance companies are unable to pay claims or surrender values due to insolvency. The group offers up to $300,000 in life insurance death benefits and $100,000 in cash surrender values to qualified parties.

Tennessee Auto Insurance

Tennessee auto insurance regulations do not require resident drivers of this at-fault state to carry personal injury protection (PIP) or uninsured motorist coverage. They do require $50,000 in bodily injury liability in the event of a multiple injury accident, and $25,000 for a single-person injury. They also require $15,000 in property damage liability.

Tennessee Health Insurance

Tennessee health insurance regulators do not require insurance companies operating in the state to offer guaranteed health insurance policies to individuals. That means some will be uninsurable, but there is a state high-risk pool that will help them get the coverage they need. Since Tennessee does not have a state income tax, there is no deduction for health savings account (HSA) contributions on the state level.

A group with as few as 2 members can be considered a qualifying group for group health insurance. Individuals within the group who have had a 63-day or longer break in coverage over the past 6-months may find that the group insurance policy excludes their pre-existing condition for up to 12-months. In groups with 3-25 people, the rates are protected by rate bands.

Tennessee Home Insurance

Exposed to hurricanes and tornadoes, Tennessee residents may not be required to have Tennessee home insurance by state regulators, but they’d be awfully exposed without it. In 2010, the state was met with an historic and life-changing flood that has resulted in many lost homes, businesses and lives. It is an unfortunate lesson for all those without adequate flood insurance coverage.

Tennessee Life Insurance

The Tennessee Life and Health Insurance Guaranty Association was created in 1989 by the Tennessee life insurance regulators in order to answer the concerns of consumers who were scared that their life insurance company might become insolvent and unable to pay claims as promised. The association provides up to $300,000 in death benefits and $100,000 in cash surrender values to qualified claimants.

South Dakota Auto Insurance

When you consider South Dakota auto insurance regulations, know this: the state does not require any personal injury protection (PIP) coverage. It does, however, require at least $25,000 in bodily injury liability for single-person injuries and $50,000 for multiple person injuries. They also require uninsured motorist coverage and at least $25,000 in property damage liability. South Dakota is not a no-fault state.

South Dakota Health Insurance

Like most states in the U.S. South Dakota health insurance regulations do not require health insurers that operate in the state to offer a guaranteed issue product to individuals. And since there are not state income taxes, there is no need to deduct health savings account (HSA) contributions from any state filings. South Dakota does have a high-risk pool for uninsurable individuals without access to group coverage.

Small groups in South Dakota can consist of as few as 2 people and there is no guarantee that an individual within the group who has pre-existing conditions that went without coverage for 63 or more days in the previous 6 months will not have the conditions excluded for up to 12 months. Rate bands are in place to help restrict group insurance rates.

South Dakota Home Insurance

South Dakota home insurance is not required by state regulators, but individual lenders in the state may require it of their customers. Residents are particularly at risk for experiencing tornadoes and should make sure they have adequate home insurance coverage.

South Dakota Life Insurance

The South Dakota Life and Health Insurance Guaranty Association was formed in 1989 in order to protect consumers and life insurance policyholders against the unlikely event of lost life insurance claims and cash values due to insurer insolvency. The association offers up to $300,000 in life insurance death benefit protection and $100,000 in cash value protection.

South Carolina Auto Insurance

South Carolina auto insurance regulations require uninsured motorist coverage, bodily injury liability and property damage liability. The at-fault state does not require personal injury protection (PIP). Their requirements are:

• $25,000 in bodily injury liability for single-person accidents and $50,000 for multiple
• $25,000 for property damage liability

South Carolina Health Insurance

South Carolina health insurance regulations do not require health insurers in the state to guarantee the issue of health insurance policies to individuals. The state does have a high-risk pool for eligible individuals and does allow health savings account (HSA) contribution deductions from state income taxes.

Small groups in South Carolina must consist of at least 2 individuals and there is no guarantee of coverage if any individual with a pre-existing condition had a 63 day or longer break in coverage over the past 6 months. They could face a pre-existing condition exclusion of up to 12 months. Group rates are restricted by rate bands.

South Carolina Home Insurance

South Carolina residents are not required by the state to have South Carolina home insurance, but residents should be careful to have adequate coverage for floods, hurricanes and tornadoes whether or not their lender or the state require it.

South Carolina Life Insurance

The South Carolina Life Accident and Health Insurance Guaranty Association (SCLAHIGA) was created in 1972 to ensure that South Carolina life insurance customers had some recourse in the event that their insurer became insolvent and could not pay their claims. SCLAHIGA offers up to $300,000 in life insurance death benefits to those beneficiaries who have had a claim unpaid for insolvency. It is unclear what the protection is for life insurance cash values.

Rhode Island Auto Insurance

Rhode Island auto insurance regulations do not require personal injury protection (PIP) coverage but do require uninsured motorist coverage in this at-fault state. In addition, they require drivers to have at least $25,000 in property damage liability coverage, $50,000 in bodily injury liability for single-injury accidents and $50,000 for multiple injury accidents. But policyholders in Rhode Island can also satisfy these requirements with a combined policy.

Rhode Island Health Insurance

Rhode Island health insurance regulators may not require all individual policies to be guaranteed issue, but they do require continuous coverage be available to individuals who have had creditable coverage for 12 consecutive months. The state does not have a high-risk pool but they do allow state income tax deductions for health savings account (HSA) contributions.

Group health insurance policies can be obtained by groups as small as one member. In one-member groups, coverage must be guaranteed unless the applicant is eligible for group coverage elsewhere. Individuals within the group who have a pre-existing condition can have their condition excluded for up to 6 months if they had a 909 day or longer break in coverage over the past 6 months.

Rhode Island Home Insurance

Rhode Island isn’t prone to many natural disasters other than the occasional New England hurricane. Unfortunately, 2010 brought many Rhode Island home insurance companies flood claims that were unpaid because residents did not have proper flood coverage. The Federal Emergency Management Agency (FEMA) is stepping in with some grants, but this should serve as a lesson to uninsured or underinsured homeowners everywhere to beef up their coverage. After all, FEMA may not give grants when you are in need.

Rhode Island Life Insurance

In 1985, the Rhode Island life insurance regulators created the Rhode Island Life and Health Insurance Guaranty Association. The association was formed in order to ensure that life insurance policyholder’s who were denied claims because an insurer became insolvent, would have some recourse. The association provides up to $300,000 in death benefits and $100,000 in cash surrender value payments to qualifying policyholders.

Pennsylvania Auto Insurance

Pennsylvania auto insurance regulations make this a no-fault state with required personal injury protection (PIP) and not required uninsured motorist protection. The state does require drivers to have at least $5,000 in property damage liability coverage, $15,000 for single-person bodily injury liability and $30,000 in multi person bodily injury liability.

Pennsylvania Health Insurance

Pennsylvania health insurance regulations do not utilize a state-subsidized high-risk pool and do not require insurers to issue individual policies on a guaranteed basis. They do, however, offer an insurer of last resort. If you contribute to a health savings account (HSA) in Pennsylvania then you can deduct your contribution from your state income taxes.

Small groups in Pennsylvania can have as few as 2 members. Pennsylvania health insurance regulators do not require guaranteed issue policies to all members; as such, if any member with pre-existing conditions has had a break in coverage for 63 or more days during the past 6 months their condition can be excluded for up to 12 months. Group plans have no rating restrictions in Pennsylvania.

Pennsylvania Home Insurance

In 2010, Pennsylvania home insurance current and future customers got a bit of a boon in the approval of Traveler’s Insurance’s proposed discounts for green home improvement products. This means those with home insurance can enjoy a discounted rate if they make ecologically friendly choices in their home improvement materials. The state regulators do not require homeowners to have insurance or to make these updates, but they are great decisions for those looking to protect their most important asset.

Pennsylvania Life Insurance

Pennsylvania life insurance regulators created the Pennsylvania Life and Health Insurance Guaranty Association to assist policyholders in the event that their life insurance company was unable to pay claims as a result of insolvency. The association has been in effect since 1978 and provides up to $300,000 in death benefit protection and $100,000 in cash surrender values.

Oregon Auto Insurance

Oregon auto insurance regulations have driver protection in mind but are not unaffordable for most. They require uninsured motorist coverage as well as personal injury protection (PIP) and are an at-fault state. They also require bodily injury and property damage liability coverages in the following minimums:

• $25,000 Bodily injury for a single-person injury
• $50,000 Bodily injury for a multi person injury
• $10,000 Property damage liability

Oregon Health Insurance

Oregon health insurance regulations do not require guaranteed issue individual policies, but they do require some portability of policies so that you can get insurance as long as you have had 6 months of prior coverage. There is a state high-risk pool and contributions to health savings accounts can be deducted from state income taxes.

Groups with at least 2 members are considered eligible for Oregon group health insurance policies. Individuals within the group can have their pre-existing conditions excluded for up to 6 months if they had a 63 day or longer break in coverage over the past 6 months. Group rates are protected by an adjustable community rating which allows insurers to rate each group by community measures rather than individual experience.

Oregon Home Insurance

The Oregon home insurance regulations do not require individual homeowners (either with loans on their property or without) to carry home insurance. So while regulations don’t require it and the states low occurrence of natural disasters might make you think it unnecessary, it is still important to get quotes and carry home insurance coverage. Why? Because theft, fire, flood, storm damage and other incidents can cause damage to your home no matter where you live-and you need an effective means for paying for the repairs they necessitate.

Oregon Life Insurance

The Oregon Life and Health Insurance Guaranty Association was formed by the Oregon life insurance regulators in 1975 in order to provide benefits to state consumer’s whose insurers had become insolvent before paying legitimate claims. The association offers up to $300,000 in death benefit protection and $100,000 in cash surrender value protection.

Oklahoma Auto Insurance

Oklahoma auto insurance regulations make this at-fault state a pretty easy one from a driver’s point of view. They do not require personal injury protection (PIP) or uninsured motorist coverage. They do require a minimum of $25,000 in bodily injury liability for a single-person injury and $50,000 for multiple person injuries.

Oklahoma Health Insurance

Oklahoma health insurance regulations do not require insurers to guarantee the issue of individual policies to those who have pre-existing conditions. They do have a high-risk pool for individuals who are otherwise uninsurable and they allow state income tax deductions for contributions to health savings accounts (HSAs).

Groups as small as 2 people can qualify for group health insurance coverage. Individuals within the group can have their pre-existing conditions excluded up to 12 months if they have experienced a 63 day or longer break in coverage over the past 6 months. Group rates are protected by rate bands.

Oklahoma Home Insurance

Oklahoma home insurance policyholders have the unlucky distinction of living in “Tornado Alley.” As such, all homeowners in Oklahoma need to make sure they have adequate coverage against tornadoes and other disasters. Home insurance can be expensive in this state and, although it isn’t required by Oklahoma home insurance regulators, should be strongly considered in order to protect your most valued asset.

Oklahoma Life Insurance

In 1981, Oklahoma life insurance regulators came together to form the Oklahoma Life and Health Insurance Guaranty Association to provide protection to the state’s consumers from insurer insolvency. The association provides up to $300,000 in death benefits and $100,000 in cash surrender values to qualified claimants.

Ohio Auto Insurance

Ohio auto insurance regulations have created an at-fault state with no requirement for personal injury protection (PIP) or uninsured motorist coverage. They do require at least $7,500 in property damage liability coverage and $12,500 for bodily injury liability in the event of a single-persona injury. In addition, they require $25,000 for multiple person injury coverage.

Ohio Health Insurance

Ohio health insurance regulation is a little different than other states. While they don’t generally require insurers to guarantee the issue of health insurance policies for individuals, there is a 30-day period each year during which non-HMO’s must guarantee issue policies. HMOs must guarantee the issue of policies all year until they reach state limits. The state does not have a high-risk pool but they do allow health savings account (HSA) contributions to be deducted from state income taxes.

Groups as small as 2 people can get group health insurance in Ohio, but individuals with pre-existing conditions can have their condition excluded from coverage for up to 12 months if they had a 63 day or longer break in insurance coverage over the past 6 months. Rate bands are in place to keep group insurance rates affordable.

Ohio Home Insurance

As the American Recovery and Reinvestment Act makes homeownership in Ohio more affordable, the importance of protecting your assets with Ohio home insurance becomes more and more clear. While the state does not require its homeowners to carry this coverage, proper protection against tornadoes, theft, fire and other events is necessary if you don’t want to put your family in financial jeopardy.

Ohio Life Insurance

In order to protect the state’s life insurance consumers against insurer insolvency, Ohio life insurance regulators creates the Ohio Life and Health Insurance Guaranty Association (OLHIGA). The association ensures that consumers still get their life insurance policy benefits even if the company that promised the benefits has gone bankrupt. They offer up to $300,000 in death benefit protection and $100,000 in cash surrender benefits.

North Dakota Auto Insurance

No-fault North Dakota auto insurance regulations require both personal injury protection (PIP) coverage and uninsured motorist coverage. In addition, they require at least $25,000 in property damage liability, $25,000 in bodily injury liability for single-persona accident injuries and $50,000 for multiple person injuries.

North Dakota Health Insurance

Individual health insurance policies are not required to be guaranteed issue by North Dakota health insurance regulations. They do allow state income tax deductions for health savings account (HSA) contributions and the state does have a high-risk pool for uninsurable individuals.

In order to get group health insurance issued in North Dakota, groups must have at least 2 members. Individuals within the group can have their pre-existing conditions excluded for up to 12 months if they had a 63 day or longer break in coverage over the past 6 months. Groups with 2-25 members have rates that are protected by rate bands.

North Dakota Home Insurance

North Dakota home insurance regulations might not require all homeowners in the state to have insurance, but that doesn’t mean that they are not concerned with the threat of floods and other natural disasters. In fact, in 2009 a panel of federal agency water experts was assembled to discuss the future of climate change and how it will affect flooding in the state. In certain parts of the state, they found increased chances for very high level floods-just a minor reminder of how important home insurance really is.

North Dakota Life Insurance

North Dakota life insurance regulators created the North Dakota Life and Health Insurance Guaranty Association in 1983 in order to provide a sort of back-up protection to consumers in case their life insurance companies became insolvent before paying out claims. The association offers up to $300,000 in death benefits and $100,000 in cash surrender value for qualifying consumers.

North Carolina Auto Insurance

North Carolina auto insurance does not require personal injury protection but do require uninsured motorist coverage. In addition, this at-fault state requires both bodily injury liability and property damage liability. The state requires a minimum of $25,000 in coverage for property damage, $30,000 for a single-person bodily injury and $60,000 for multiple person injuries.

North Carolina Health Insurance

North Carolina health insurance regulators have created a state-subsidized high-risk insurance pool for individuals unable to get coverage-which is a good thing since the state does not require insurers to issue guaranteed individual policies on applicants with pre-existing conditions. Some North Carolina health insurance customers will benefit from the state’s allowance of state income tax deductions for health saving account (HSA) contributions.

Small groups in the state of North Carolina can be as small as one person and insurers are required to issue a policy to these self-employed individuals. However, those with pre-existing conditions who have had a break in coverage for 63 or more days in the past 6 months will find that their condition can be excluded from coverage for up to 12 months. Rate bands are in place to keep group rates affordable.

North Carolina Home Insurance

North Carolina home insurance regulators are working to provide insurance credits for homeowners who storm-proof their homes. This would help reduce the premiums for hail and wind coverage. While North Carolina home insurance regulations do not require all homeowners to have insurance, the state’s exposure to both hurricanes and tornadoes makes home insurance an important purchase.

North Carolina Life Insurance

In 1974 North Carolina life insurance regulators created the North Carolina Life and Health Insurance Guaranty Association to provide benefits to life insurance policyholders whose insurer had become insolvent. They provide up to $300,000 in death benefits to affected consumers.

New York Auto Insurance

New York auto insurance regulations differ slightly from the rest of the country’s because this no-fault state requires drivers to have liability insurance, personal injury protection (PIP), uninsured motorist coverage and wrongful death coverage with minimum coverage of 50/100. The state requires a minimum of $25,000 coverage for single-injury bodily injury liability and $50,000 for multiple person injuries. They also require at least $10,000 for property damage liability.

New York Health Insurance

New York health insurance regulations require that insurers issue health insurance policies on a guaranteed basis even to individuals who have pre-existing conditions. As such, there is no need for a state-subsidized high-risk pool. If a policyholder should choose a high deductible health insurance policy, regulations do allow state income tax deductions for contributions to health savings accounts (HSAs).

Small groups in New York can consist of as few as 2 people for group health insurance. Individuals within the group who have pre-existing conditions that had a 63 day or longer gap in coverage over the past 6 months can have their condition excluded from the group plan for up to one year. Rates for group policies in New York are controlled by pure community rating.

New York Home Insurance

Home insurance is an important coverage for all residents of New York, even though New York home insurance regulations do not require it. Apartment dwellers in the state should consider renters insurance to protect their belongings. New Yorkers may experience both tornadoes and hurricanes and should make sure they have adequate coverage. While bed bugs are making a come-back in the more urban areas of the city, home insurance and renters insurance policies do not cover the damages associated with having-and getting rid of-these pests.

New York Life Insurance

In 1941, New York life insurance regulators became the first in America to create a guaranty association that would protect consumers in the event that their insurer became insolvent. This happened when they created the Life Insurance Company Guaranty Corporation of New York. The association provides up to $500,000 in death benefits and cash surrender values to policyholders left abandoned by their insurers.

New Mexico Auto Insurance

The at-fault state of New Mexico may not require uninsured motorist coverage or personal injury protection (PIP) but New Mexico auto insurance regulations do require drivers to carry both bodily injury liability and property damage liability coverage. The minimum coverage is $25,000 for a single-person injury, $50,000 for a multiple-person injury and $10,000 for property damage liability.

New Mexico Health Insurance

If you need health insurance and you are uninsurable, you will be happy to know that there is a high-risk pool in New Mexico. This is especially good because New Mexico health insurance regulations do not require insurers to issue policies in the individual market that cover pre-existing conditions. In addition, New Mexico allows the deduction of health savings account (HSA) contributions from state income taxes.

Small groups in New Mexico consist of 2-50 people, but if a one-person business needs insurance coverage for the owner of the business and at least one dependent, the state insurance alliance guarantees its issue. Pre-existing conditions can be excluded from group policies if any insured has had a 63 day or longer break in coverage over the past 6 months. The condition can only be excluded for up to 6 months. Group rates in the state are restricted by rate bands.

New Mexico Home Insurance

New Mexico home insurance regulations may not require coverage, but homeowners in the state should strongly consider having it anyway because of the risk of both hurricanes and wildfires. In addition, individual lenders may require it of those with outstanding mortgages and loans.

New Mexico Life Insurance

The New Mexico Life Insurance Guaranty Association (created in 1978) was formed to ensure that New Mexico life insurance policyholders had something to fall back on should their insurer become insolvent and leave their claims unpaid. The association covers up to $300,000 in death benefits and $100,000 in cash values.

New Jersey Auto Insurance

Not only do New Jersey auto insurance regulations require both bodily injury and property damage liability, but they also require uninsured motorist coverage, and personal injury protection (PIP). They are also a no-fault state.

Luckily for price-conscious consumers, New Jersey auto insurance regulations only require $15,000 in coverage for single-person injuries, $30,000 for multiple person injuries and $5,000 for property damage liability.

New Jersey Health Insurance

New Jersey health insurance regulations require insurers to cover pre-existing conditions in individual policies; because of this there is no state high-risk pool. In addition, the state does not allow health savings account (HSA) contributions to be deducted from state income tax.

Groups under New Jersey health insurance regulations can consist of as few as 2 people. In groups of 2-5, pre-existing conditions that have been uncovered for 90 or more days over the past 6 months can be excluded for up to 6 months. In groups of more than 5 people, no exclusions are allowed. Group rates in New Jersey are restricted be the adjusted community rating method.

New Jersey Home Insurance

New Jersey home insurance does not require all homeowners to have insurance, although individual lenders may. They are one of only three states to require new residential buildings to have sprinkler systems installed which can lower home insurance rates dramatically.

Believe it or not, New Jersey does experience some hurricane exposure. Because of this, residents should be careful to purchase a policy with hurricane deductibles and limits they can afford.

New Jersey Life Insurance

The New Jersey Life and Health Insurance Guaranty Association was created 1992 but back-dated its effective date to January of 1991. The association provides up to $500,000 in death benefit and $100,000 in cash surrender value to New Jersey life insurance policyholders whose insurers become insolvent and cannot pay claims.

New Hampshire Auto Insurance

Personal injury protection (PIP) is not required by New Hampshire auto insurance regulators and neither is bodily injury liability or property damage liability. This at-fault state does have one auto insurance requirement–they require residents to have uninsured motorist coverage.

New Hampshire Health Insurance

New Hampshire health insurance coverage is no laughing matter. While the state does not require its insurers to cover pre-existing conditions in the individual market, they do have a state high-risk pool to help those who are uninsurable. Since there is no state income tax there is no deduction (on the state level) for health savings account (HSA) contributions.

New Hampshire health insurance regulators consider small groups as consisting of 1-50 persons and, while there is no requirement that they issue coverage for pre-existing conditions within the group if there has been a 63 day or longer break in coverage over the past 3 months, they only let them exclude a pre-existing condition for up to 9 months. This means both their look back period (3 months) and their exclusion periods are less than the federal minimums.

New Hampshire Home Insurance

If you own a home in New Hampshire, you probably already know that New Hampshire home insurance regulations do not require you to have home insurance. But that doesn’t mean you are in the clear. If you have a lender, they may require you to have some sort of insurance on your dwelling to help reduce their risk. In addition, since New Hampshire is sometimes on the receiving end of hurricanes, it is a good idea to have some coverage.

New Hampshire Life Insurance

New Hampshire life insurance regulators formed its Life and Health Insurance Guaranty Association in 1971 in order to ensure there was some source of benefits for those residents whose insurance companies became insolvent before claims were paid. The association provides up to $300,000 in life insurance death benefits and $100,000 in life insurance net cash surrender benefits.

Nevada Auto Insurance

Nevada auto insurance regulations make this at-fault state require liability insurance but not uninsured motorist or personal injury protection (PIP). They do require a minimum of $15,000 in bodily injury liability for single-person injuries, $30,000 for multiple injuries and $10,000 for property damage liability.

Nevada Health Insurance

Nevada health insurance regulations do not force insurers to cover the pre-existing conditions of residents in their individual health insurance policies. In addition, they have no state high-risk pool and, since they do not have state income tax, residents have no need to deduct health savings account (HSA) contributions (although they can still be federally income tax deducted within IRS limits).

Small groups in Nevada consist of 2-50 people for Nevada health insurance group issuance purposes. Individual pre-existing conditions can be excluded for up to 12 months from the rate band protected group plan if the insured had a 63 day or longer break in coverage over the past 6 months.

Nevada Home Insurance

When you look at Nevada home insurance regulations you will find that there is no requirement for homeowners to carry insurance. Individual lenders may require some coverage depending on your agreement, so be sure to consult your loan documents. Historically, natural disasters are few and far between in Nevada so there may be no need for special endorsements in your policy, although individual situations may vary.

Nevada Life Insurance

The Nevada Life and Health Insurance Guaranty Association was created in 1973 in order to protect Nevada life insurance customers from insurer insolvency. In the event that an insurer cannot pay out a payable claim, policyholders are protected for up to $300,000 in Nevada life insurance death benefit and $100,000 in cash surrender values.

Nebraska Auto Insurance

Nebraska does not require personal injury protection (PIP) or uninsured motorist coverage for its drivers. The Nebraska auto insurance regulators do require bodily injury and property damage liability in this at-fault state. The minimum bodily injury liability for a single-person injury is $25,000 and $50,000 for a multiple person injury. They also require a minimum of $25,000 for property damage liability.

Nebraska Health Insurance

Nebraska health insurance regulations do not require insurers to guarantee the issuance of a policy for individuals who have pre-existing conditions. The state does have a high-risk pool to help give insurance to those individuals who are otherwise uninsurable. Additionally, the state allows for state income tax deductions of contributions to health savings accounts (HSAs).

Nebraska groups must consist of 2 or more people for purposes of group health insurance issuance. Pre-existing conditions in group members can be excluded for up to 12 months if the member had a 63 day or longer break in coverage over the past 6 months. Group health insurance rates in Nebraska are restricted by rate bands.

Nebraska Home Insurance

In 2010, the state of Nebraska experienced such damaging storms that the U.S. Federal Emergency Management Agency (FEMA) stepped in to give help to uninsured homeowners by giving them grants. Uninsured homeowners do not always get so lucky, so they should consider having appropriate coverage against tornadoes and other natural disasters. Nebraska home insurance regulations do not require any minimal insurance requirements so it is up to you to get your own coverage.

Nebraska Life Insurance

In 1975, Nebraska life insurance regulators created the Nebraska Life and Health Insurance Guaranty Association to help protect life insurance policyholders against insurer insolvency. They provide a life insurance death benefit up to $300,000 and up to $100,000 in cash values.

Montana Auto Insurance

Montana auto insurance regulations do not require drivers to carry personal injury protection (PIP) or uninsured motorist coverage. This at-fault state does require liability insurance. The minimum bodily injury coverage required is $25,000 for a single-person injury and $50,000 for a multiple person injury. They also require $10,000 for property damage liability.

Montana Health Insurance

Montana health insurance regulations do not require that the state’s health insurers issue individual policies on a guaranteed basis, so those with pre-existing conditions can be declined or excluded. For those unable to get individual or group insurance in the state, there is a high risk pool. If you can get a high deductible plan, the state does allow a state income tax deduction for those who contribute to a health savings account (HSA).

Small groups in Montana must consist of at least 2 people for purposes of group health insurance. A six month exclusion can be issued on an individual’s pre-existing condition if they were without insurance coverage for 63 or more days in the past 6 months. Group rates are protected by rate bands.

Montana Home Insurance

Montana home insurance regulators make no requirements for homeowners to have insurance; of course, individual lenders do since they are at risk as long as you have an outstanding loan on your home.

Whole Montana has no great risk for any particular natural disaster, 2010 brought FEMA executives and regulators together to discuss certifying the state’s important levees. Doing so will help Montana home insurance rates stay affordable.

Montana Life Insurance

The Montana Life and Health Insurance Guaranty Association was created in 1974. Its purpose is to protect Montana life insurance policyholders (and their beneficiaries) from missing out on a claim due to insurer insolvency. The association provides up to $300,000 in death benefits and $100,000 in cash value claims.

Missouri Auto Insurance

Missouri auto insurance regulations require drivers in the state to carry uninsured motorist coverage along with at least $25,000 in bodily injury liability for single-person injuries, $50,000 for multiple person injuries and $10,000 in property damage liability. The state does not require personal injury protection and is an at-fault state.

Missouri Health Insurance

Missouri health insurance regulators have created a high-risk insurance pool to help insure those who are uninsurable due to pre-existing conditions. This is helpful since the state does not require insurers to issue individual coverage for those individuals. They also allow the deduction of health savings account (HSA) contributions from state income taxes.

Missouri considers two or more individuals a “group” for purposes of health insurance. Pre-existing conditions can be excluded up to 12 months in a group for those individuals who have had a 63 day or longer break in coverage over the past 6 months. Group insurance rates in Missouri are restricted by rate bands.

Missouri Home Insurance

Missouri home insurance regulations place stiff limits on what events qualify a homeowner for insurance policy cancellation. Luckily, policies cannot be cancelled for place of residence, gender, race, creed, occupation or location. They can, however, be cancelled for nonpayment of premium, fraud, or changes that increase the risk to the property and, therefore, the insurer.

Missouri residents should be sure to buy appropriate tornado coverage within their policy since the state has a high tornado incident rate.

Missouri Life Insurance

Missouri life insurance regulators created the life and health branch of The Missouri Insurance Guaranty Associations to ensure that residents get their claims paid even if their insurer becomes insolvent. The life and health branch of the associations provides up to $300,000 in death benefits and $100,000 in cash values to Missouri life insurance policyholders with bankrupt insurers and payable claims.

Mississippi Auto Insurance

This no-fault state does not require either uninsured motorist coverage or personal injury protection (PIP). Mississippi auto insurance regulations do, however, require both bodily injury liability and property damage liability of all drivers. The minimum coverage requirements are $25,000 for a single-person injury, $50,000 for a multiple person injury and $25,000 for property damage.

Mississippi Health Insurance

Mississippi health insurance regulations do not require insurers to issue individual policies without pre-existing conditions exclusions. In order to provide some recourse to those denied coverage, the state does have a high-risk pool. They also allow state income tax deductions for contributions to health savings accounts (HSAs).

Group insurance policies can be issued to groups as small as one-person on a guaranteed issue basis if the self-employed individual is not eligible or any other coverage. Otherwise, pre-existing conditions can be excluded for those individuals in the group who have had a 63 day or longer break in coverage over the past 6 months. The exclusion can last as long as 12 months. Small group rates in Mississippi are restricted by rate bands.

Mississippi Home Insurance

Mississippi home insurance customers just got a new insurer competing for their business in the state. Luckily this will help to reduce insurance costs in a state that is particularly prone to both damaging tornadoes and hurricanes. So while Mississippi home insurance may not be required by your regulators, it is not an asset protection that should be overlooked.

Mississippi Life Insurance

In 1985, Mississippi life insurance regulators created the Mississippi Life and Health Insurance Guaranty Association to offer protection to those individuals whose insurers had become insolvent and unable to pay their claims. The association pays up to $300,000 for Mississippi life insurance death benefits and $100,000 for cash surrender values.

Minnesota Auto Insurance

Minnesota auto insurance regulations require residents of the state to have liability insurance. They require at least $30,000 bodily injury coverage in the event of a single-person injury, $60,000 for multiple person injuries and just $10,000 for property damage liability.

This no-fault state also requires personal injury protection (PIP) and uninsured motorist coverage making Minnesota auto insurance regulations fairly comprehensive.

Minnesota Health Insurance

Minnesota health insurance regulations do not require that health insurance companies provide automatic coverage for pre-existing conditions. They do, however, have a high-risk pool to provide insurance for those who would otherwise be uninsurable. In addition, they allow the contribution to your health savings account (HSA) to be deducted from your state income tax.

Group polices can have as few as two participants and Minnesota health insurance regulations do allow for pre-existing conditions to be excluded from group coverage for up to 12 months if there was a 63 day or longer break in coverage over the past 6 months. Group health insurance rates are protected from becoming cost prohibitive by the existence of rate bands.

Minnesota Home Insurance

Minnesota home insurance regulations do not require all home owning residents of the state to be covered by insurance. With that said, it is important to remember that your individual lender may require it if you still have an outstanding loan or mortgage on the property.

While regulations may not require it, Minnesota home insurance does protect homeowners against damages to their home-including those caused by the tornadoes the state is prone to suffer.

Minnesota Life Insurance

The Minnesota Life and Health Insurance Guaranty Association created in 1977 ensures that policyholders in the state will get some remuneration even if their Minnesota life insurance company becomes insolvent. But that does not mean you are guaranteed the full death benefit of your policy. The association covers life insurance death benefits up to a national high of $500,000 and net cash surrender up to $130,000.

Michigan Auto Insurance

Michigan auto insurance regulators require personal injury protection (PIP) but no uninsured motorist protection in this at-fault state. They also require a minimum of $10,000 in property damage liability, $40,000 for multiple bodily injury liability and $20,000 for single bodily injury liability.

Michigan Health Insurance

Michigan health insurance regulations do not force insurance companies to cover pre-existing conditions in individual policies, but they do offer an insurer of last resort (Blue Cross Blue Shield). That insurer must insure the state’s uninsurable. After 24 months, all HMO’s in the state must offer a guaranteed issue policy to a restricted number of applicants during a single 30-day period. The state also allows state income tax deductions for health savings account (HSA) contributions.

Small groups in Michigan can get group health insurance as long as they have at least 2 employees. Insurers are not permitted to exclude pre-existing insurance when Michigan health insurance is offered to a group and rates are protected by rate bands, although non-profit hospital and service plans can use adjustable community rates.

Michigan Home Insurance

Michigan home insurance rates are currently determined in part by the applicant’s credit score, although there is some legislation pending that may change this practice. Since the state does not require its homeowners to carry insurance on their largest investment, the removal of credit score as a rate factor may increase the number of homes that are covered. Michigan home insurance shoppers present and future should make sure they get adequate coverage for tornadoes.

Michigan Life Insurance

When Michigan life insurance companies go out of business, they no longer have the capacity to pay the claims and cash surrender requests of their policyholders. The Michigan Life and Health Insurance Guaranty Association (created in 1956) was formed for the purpose of stepping in to pay certain benefits to these displaced policyholders. The maximum amounts the association will pay are $300,000 for a death benefit and $100,000 for cash surrender values.

Massachusetts Auto Insurance

Massachusetts auto insurance regulations are more restrictive than some states, but their $5,000 minimum coverage for property damage liability is one of the lowest minimums required by any state in the country. This no-fault state requires personal injury protection (PIP) and uninsured motorist coverage. They also require bodily injury liability in the following amounts:

• At least $20,000 for single-person injuries
• At least $40,000 for multiple person injuries

Massachusetts Health Insurance

In 2006, a law was enacted that required every resident of Massachusetts to obtain a minimum level of Massachusetts health insurance. Their minimum creditable coverage standards are numerous and were designed to provide true protection for residents. To see the full list, you can visit their government website.

Because of this Massachusetts health insurance requirement, pre-existing conditions must be given coverage in all individual policies. The state allows employer group insurance coverage for groups as small as one person and allows a 6 month pre-existing conditions exclusions for individuals in the group who have had at least a 63 day break in coverage over the past 6 months. Health savings account (HSA) contributions are state tax deductible.

Massachusetts Home Insurance

The state of Massachusetts does not require its residents to have all insurance coverage-and that means they do not need to carry home insurance coverage unless their lender directs them to. Massachusetts can be at the receiving end of New England hurricanes, so it is important to make sure you choose adequate hurricane coverage for that risk.

Massachusetts Life Insurance

Created in 1986, the Massachusetts Life and Health Insurance Guaranty Association gives consumers up to $300,000 in death benefits and $100,000 in cash value benefits should their insurer become insolvent and unable to fulfill the contract.

Maryland Auto Insurance

Maryland auto insurance regulators require uninsured motorist coverage for all their drivers. In addition, they require personal injury protection (PIP) coverage for passengers, though it can be waived for the actual policyholder. This at-fault state also requires a minimum of $20,000 in bodily injury liability for single-person injuries and $40,000 for multiple person injuries as well as $15,000 for property damage liability.

Maryland Health Insurance

Maryland health insurance regulators do not require guaranteed coverage for pre-existing conditions in individual insurance policies. They do have a high-risk pool and they allow state income tax deductions to individuals who make a contribution to a health savings account (HSA).

Maryland health insurance in group form is allowed in employer groups as small as 2 people. Pre-existing condition exclusions are not permitted no matter how long a break in coverage the insured may have had prior to getting the group coverage. In addition, group rates are protected by adjusted community rating which permits insurers to base rates on things like gender and location instead of health.

Maryland Home Insurance

Maryland home insurance regulators took a big step in 2002 to ensure that all homeowners got fair treatment from Maryland home insurance companies. This step was to outlaw the use of a credit score in determining home insurance rates. While home insurance is not required for all residents (except by individual lenders) it is advised that homeowners choose insurance with affordable hurricane deductibles.

Maryland Life Insurance

Should a Maryland life insurance company go bankrupt before it pays out the claims of its customers, the Maryland Life and Health Insurance Guaranty Corporation will step in. Formed in 1970, it guarantees up to $300,000 in death benefits to displaced insureds and $100,000 in cash surrender values.

Maine Auto Insurance

Maine auto insurance regulators treat insurance coverage a little differently than other states. Not only do they require resident drivers to carry bodily injury liability, personal property liability and uninsured motorist coverage, but they also require that drivers have at least $1,000 in coverage for medical payments.

They also place high minimums on liability insurance:

• $50,000 bodily injury liability in the event of a single-person injury
• $100,000 bodily injury liability for multiple injury accidents
• $25,000 property damage liability

There is no requirement for personal injury protection (PIP) and they are not a no-fault state.

Maine Health Insurance

Maine is one of only 6 U.S. states that requires pre-existing coverage for all individual policyholders. Because Maine health insurance regulations prevent insurers from discriminating against policyholders who have already been diagnosed with a chronic or recurring illness or injury there is no high-risk pool. Residents can also take a state income tax deduction for health savings account (HSA) contributions they make.

Small groups in Maine can get group health insurance with as little as one employee. Pre-existing conditions can be excluded from group policies if the insured had a 90 day or longer break in coverage over the past 6 months. Conditions can only be excluded for up to 12 months. Small group rates are protected by the process of adjusted community rating. This means insurers cannot increase rates based on health but can based on gender, geographical location and more.

Maine Home Insurance

Maine home insurance regulations do not require residents to carry home insurance but individual lender probably do. Residents near the coast may want to carry additional flood insurance and all residents should be wary of the occasional New England hurricane.

Maine Life Insurance

The Maine Life & Health Insurance Guaranty Association was created in 1983 to protect Maine life insurance policyholders against the unlikely event of insurer insolvency. In the event that an insurer becomes insolvent and is unable to pay claims, the association will issue up to $300,000 in death benefit payments and $100,000 in cash value withdrawals.

Louisiana Auto Insurance

Louisiana auto insurance regulators have placed relatively few insurance requirements on residents of the state. Louisiana is not a no-fault state and does not require personal injury protection (PIP) or uninsured motorist coverage.

Louisiana auto insurance regulations do require that residents carry bodily injury liability and property damage liability insurance. The property damage liability minimum in the state is $25,000. Bodily injury liability in the event of a single-person injury is $15,000 and in a multiple person incident is $30,000.

Louisiana Health Insurance

Louisiana health insurance regulations do not require insurers to provide pre-existing condition coverage in the individual market. The state has created a high-risk pool that provides an insurance solution to uninsurable individuals. In addition, they allow state income tax deductions for contributions made to a health savings account (HSA).

Louisiana health insurance group policies are available for employer groups as small as 2 people. Pre-existing conditions can be excluded from group coverage if an employee has had a 63 day or longer break in their insurance overage during the past 6 months. In these instances, the condition can be excluded up to 12 months. Rate bands protect rates from becoming too high in groups with 3-35 employees.

Louisiana Home Insurance

Louisiana is a beautiful state rich in culture and history. It is a wonderful and enriching place to live and visit, but it is also in a prime location for hurricanes off the Gulf of Mexico and tornadoes. As such, even if you own your home in full, Louisiana home insurance is an important purchase to make.

Louisiana Life Insurance

Created in 1991, the Louisiana Life & Health Insurance Guaranty Association provides a payment of death benefit and cash values to insured’s whose Louisiana life insurance company has become insolvent or gone out of business. They offer payments of up to $100,000 for cash surrender value and $300,000 for death benefits.

Kentucky Auto Insurance

Kentucky auto insurance regulators have created a no-fault auto insurance state that does not require uninsured motorist coverage but does require personal injury protection (PIP). In addition, Kentucky auto insurance regulations also require both bodily injury liability insurance and property damage liability coverage.

The minimum amount of property damage liability that consumers can buy is $10,000. For bodily injury liability, the minimum for a single-persona accident is $25,000 and $50,000 for a multiple person accident.

Kentucky Health Insurance

Kentucky health insurance regulators have not placed any requirements on insurers in the state to cover pre-existing conditions in individual policies. They do have a high-risk pool for those who are uninsurable and they allow Health Savings Account (HSA) contributions to be deducted from state income tax liabilities.

Small groups in Kentucky can get group health insurance coverage for groups as small as 2-people. Pre-existing conditions can be excluded from group coverage for up to 12 months if the insured has had a 63 day or longer break in coverage over the past 6 months. Small group rates are insulated from large increases by the existence of rate bands.

Kentucky Home Insurance

Unless you have a loan against your home, Kentucky home insurance is not required. And if you do have a loan, the coverage is required by your lender so make sure you read your documents to determine what coverage you must have. All Kentucky homeowners should be especially concerned with their tornado coverage since this is the most common natural disaster to cause property damage to residents.

Kentucky Life Insurance

Kentucky life insurance policyholders are protected from the sudden bankruptcy of their insurers by the Kentucky Life and Health Insurance Guaranty Association created in 1978. The association protects up to $100,000 in cash surrender value and $300,000 in death benefits if an insurer should be unable to pay claims.

Kansas Auto Insurance

Kansas auto insurance is an almost full coverage event with required coverages including:

• Bodily injury liability of at least $25,000 for a single-person injury and $50,000 for a multiple person injury
• Property damage liability of at least $10,000
• Uninsured motorist coverage
• Personal injury protection (PIP)

In addition to these stiff Kansas auto insurance regulations, Kansas is also a no-fault state.

Kansas Health Insurance

Unfortunately, Kansas health insurance regulations do not ensure guaranteed individual insurance coverage for those with pre-existing conditions. But they do offer a high-risk pool for individuals who can’t get insurance elsewhere. They also allow residents to deduct their health savings account (HSA) contributions from their state income taxes.

Small groups in Kansas can get rate band protected group health insurance coverage as long as there are at least two employees. In group policies, pre-existing conditions can only be excluded for up to three months if the individual had a 63 day or longer break in coverage during the preceding 3 months.

Kansas Home Insurance

Kansas home insurance is not required for homeowners who have paid their homes off and own them without debt. However, they should remember that there really is no place that is like home and carry some insurance. Tornado coverage in a Kansas home insurance policy should be especially valued.

Kansas Life Insurance

Kansas life insurance customers will be happy to note that the Kansas Life & Health Insurance Guaranty Association (formed in 1972) is there to protect them if their life insurance company is unable to pay a claim due to insolvency. The association offers up to $300,000 for death benefits and $100,000 in cash values for unpaid claims.

Iowa Auto Insurance

Iowa auto insurance regulations are relatively easy to understand. The state is not a no-fault state and they require no uninsured motorist coverage or personal injury protection (PIP). Iowa auto insurance regulations do, however, require both property damage liability and bodily injury liability coverage. The minimum about of bodily injury liability for a single-person liability is $20,000 and $40,000 is the minimum for a multiple person injury. $15,000 is the minimum amount you can carry for property damage.

Iowa Health Insurance

Like many states, Iowa health insurance regulations do not require insurers to guarantee individual insurance coverage for pre-existing conditions. They do have a high-risk pool that is subsidized by the state for high-risk individuals who have been denied insurance coverage. Iowa also allows health savings account (HSA) contributions to be deducted from state taxes.

Small groups in Iowa can get group insurance coverage as long as they have at least 2 employees. Pre-existing conditions can be excluded for up to 12 months if members have had a 63 day or longer break in coverage over the past 6 months. Small group rates are protected from cost-prohibitive rate increases by the adoption of rate bands.

Iowa Home Insurance

Unless your home has a mortgage or loan attached to it, Iowa home insurance is not required. But that does not mean that Iowa home insurance regulators aren’t working for their citizens. In fact, Iowa recently passed a bill that requires insurance companies to give Iowa homeowners at least 30 days notice before renewing or cancelling their home insurance policy.

Iowa home insurance shoppers should be especially careful about making sure that their tornado coverage is adequate. The state has been hit with 21 major tornado events since 1953.

Iowa Life Insurance

Iowa life insurance customers are protected against the unexpected insolvency and inability to pay claims of their insurance companies by the Iowa Life and Health Insurance Guaranty Association. The association was created in 1987 and has been a welcome addition for the citizens. It offers protection of up to $300,000 for life insurance death benefits and $100,000 in cash surrender values.

Indiana Auto Insurance

Indiana auto insurance regulations have created an at-fault state with no required uninsured motorist coverage or personal injury protection (PIP). The state does require bodily injury liability and property damage liability. The minimum amounts of this coverage that are permitted are:

• $25,000 bodily injury in the event of a single-person injury
• $50,000 bodily injury in the event of a multiple person injury
• $10,000 property damage liability

Indiana Health Insurance

Indiana health insurance regulations permit group health insurance to be issued for groups as small as two people. Members of the group can have their pre-existing conditions excluded for up to 9 months if they had at least a 63 day break in coverage during the preceding 6 months. Group rates are protected from becoming cost-prohibitive by rate bands.

Individual Indiana health insurance can be issued with pre-existing condition exclusions and, to help those who are uninsurable, the state does have a high risk pool. Unfortunately, the state does not allow income tax deductions for contributions made to a health savings account (HSA).

Indiana Home Insurance

When looking for Indiana home insurance, consumers will find that the state does not require anyone to have the coverage. Individual lenders, however, probably do so be sure to check your loan documents and find out what coverage you need to have to stay compliant. Homeowners in the state should be careful to buy appropriate coverage against tornadoes.

Indiana Life Insurance

The Indiana Life and Health Insurance Guaranty Association was formed in 1978 with the intention of paying out claims to Indiana life insurance policyholders whose insurance companies had gone out of business. The association protects up to $300,000 in death benefits and $100,000 in cash values.

Illinois Auto Insurance

The state of Illinois auto insurance regulators require both liability insurance coverage and uninsured motorist coverage. They require a minimum of $20,000 for single injury accidents, $40,000 for multiple injury accidents and $15,000 for property damage liability. They are not a no-fault state.

Illinois Health Insurance

In the state of Illinois, there is no guaranteed issue of individual policies regardless of pre-existing conditions. However, there is a high risk pool to help those who have been declined coverage. The state of Illinois health insurance regulations do allow for the deduction of health savings account (HSA) contributions from state income taxes, so that is another option for those with pre-existing conditions.

Small business owners in Illinois will be happy to find that groups can be formed with as few as 2 people and that their rates are protected by rating bands. Pre-existing conditions can be excluded when a group member has had a 63 day or longer break in coverage over the past 6 months but the exclusion cannot exceed 12 months.

Illinois Home Insurance

Illinois home insurance shoppers are not required to have home insurance by the state but may be required by their lenders. Illinois residents are at risk for natural disasters like earthquakes and tornadoes so they should make sure that they have adequate coverage for these incidents.

Illinois Life Insurance

In 1980, Illinois created their Life and Health Insurance Guaranty Association to protect consumers against insurer insolvency. The association protects up to $300,000 in death benefits and up to $100,000 in net cash surrender values.

Idaho Auto Insurance

The state of Idaho is not a no-fault state and the Idaho auto insurance regulators do not require their drivers to have uninsured motorist coverage or personal injury protection (PIP). They do, however, require liability coverage. Their minimum bodily injury liability coverage is $25,000 for a single-person injury and $50,000 for a multiple person injury. Their property damage liability minimum is $15,000.

Idaho Health Insurance

Idaho handles its health insurance a little differently than other states. While they do not make insurers ignore all pre-existing conditions in issuing individual polices, they do reinsure individual high risk policies allowing some recourse for those with pre-existing conditions. The state also allows individuals to deduct health savings account (HSA) contributions from their state income taxes.

Small businesses in Idaho can get group insurance coverage for groups as small as 2 people and their rates are protected by rate bands. Pre-existing conditions can be excluded from group health insurance policies for up to 12 months if the individual had a break in coverage of 63 days or more during the previous 6 months.

Idaho Home Insurance

Idaho is a relatively calm state when it comes to natural disasters. Idaho home insurance shoppers will be happy to know that the last hundred years has brought Idaho a total of two earthquakes, two wildfires, and two memorable storms. While this data combined with the knowledge that home insurance is not required in the state of Idaho (except by individual lenders) may make some homeowners opt out of this insurance, it is always a good idea to have coverage.

Idaho Life Insurance

Idaho life insurance legislation created the Idaho Life and Health Insurance Guaranty Association in 1977. The association guarantees a payout to insured consumers in the event that their insurer becomes insolvent by the time they need a claim paid. The association guarantees up to $300,000 in death benefits and $100,000 in cash surrender values.

Hawaii Auto Insurance

Hawaii auto insurance regulators do not require uninsured motorist coverage for drivers in the state but they do require personal injury protection (PIP) and liability insurance. They require a minimum of $20,000 liability insurance for a single-person injury, $40,000 for a multiple person injury and just $10,000 for property liability. Hawaii is a no-fault state.

Hawaii Health Insurance

Hawaii health insurance regulations make no requirement that insurers cover pre-existing insurance in the individual insurance market and the state does not have a high risk pool. They do allow health savings account (HSA) deductions for state income tax, so a high deductible policy with an HSA is a good idea for some residents.

In Hawaii, group insurance can be issued on groups as small as 1 person and insurance coverage is guaranteed even if there was a break in coverage before issue. However, there are no group rating restrictions to protect rates.

Hawaii Home Insurance

Hawaii does not require home insurance although individual lenders may if you have a mortgage. Hawaii is home to many natural disasters including tornadoes, hurricanes and earthquakes. Hawaii is also home to many active volcanoes. Be sure your Hawaii home insurance policy has adequate coverage and affordable deductibles for these risks.

Hawaii Life Insurance

Hawaii life insurance legislature created the Hawaii Life and Disability Insurance Guaranty Association in order to protect Hawaiian consumers against life insurance and disability insurance company insolvency. The association guarantees up to $300,000 in life insurance benefits and $100,000 cash value protection for every insured individual.

Georgia Auto Insurance

At $25,000 Georgia auto insurance regulators have one of the highest property damage liability minimums in the country. For a single person accident, Georgia requires drivers have a minimum of $25,000 bodily injury liability coverage and $50,000 for a multi-person injury. This at-fault state does not require uninsured motorist or personal injury protection (PIP) coverage.

Georgia Health Insurance

The state of Georgia does not have a high risk pool and does not require insurers to guarantee the issue of individual insurance policies to people with pre-existing conditions. If you decide to purchase a high deductible plan with a health savings account (HSA) the state does allow you to deduct your HSA contributions from your state income taxes.

Small businesses in Georgia can get guaranteed issue policies without pre-existing conditions exclusions for groups as small as 2-people as long as there has been no break in coverage of 63 days or longer over the past 6 months. For those who have had a long break in coverage, your pre-existing exclusions cannot last longer than 12 months.

Georgia Home Insurance

Georgia homeowner insurance regulations do not require residents to have home insurance coverage. If you have an outstanding loan on your property, your lender may require this. Georgia residents should be careful to make sure they have adequate coverage for hurricanes, wildfires and tornadoes. There is minimal risk in the state of earthquakes.

Georgia Life Insurance

Georgia life insurance policies are protected against insurer insolvency by the Georgia Life and Health Insurance Guaranty Association which began in 1981. The association protects life insurance death benefits up to $300,000 and life insurance cash surrender values up to $100,000.

Florida Auto Insurance

Florida auto insurance regulators have made Florida a no-fault state. They require drivers to have both personal injury protection (PIP) and liability coverage but do not require uninsured motorist coverage. For single-injury accidents, Florida drivers must have at least $10,000 in liability coverage. $20,000 is required for multiple injury accidents. Property damage liability has a minimum of $10,000.

Florida Health Insurance

The state of Florida does not require insurers to cover pre-existing conditions in individual insurance policies. The state has a high risk pool but it has been closed to new entrants since the early 1990’s. The state of Florida has no state income tax so there is no need for a health savings plan (HSA) deduction.

In Florida, a small group can consist of just one person. Group policies must be guaranteed issue if there has been no break in coverage exceeding 63 days in the past 6 months and the maximum exclusion is 12 months. Small group rates are protected by rate bands.

Florida Home Insurance

The state of Florida does not require homeowners coverage for residents, although individual lending agreements may. Florida residents are susceptible to sinkholes, tornadoes, wildfires and hurricanes and should make sure their home insurance policies provide adequate coverage.

Florida Life Insurance

To protect state residents against Florida life insurance company insolvency, the state created the Florida Life and Health Insurance Guaranty Association in 1979. The association guarantees up to $300,000 in death benefit and $100,000 in cash surrender value for consumers whose life insurance companies become insolvent.

District of Columbia Auto Insurance

District of Columbia auto insurance regulations do not require personal injury protection and the district not a no-fault state, but they do require uninsured motorist coverage. They also require liability coverage at a minimum of $25,000 for single-person injuries, $50,000 for multiple person injuries and $10,000 for property damage.

District of Columbia Health Insurance

District of Columbia health insurance regulations make no rules that insurers must issue policies and ignore pre-existing conditions. Health savings account (HSA) contributions are not state tax deductible and there is no high risk pool.

In DC, small group health insurance can be issued to groups as small as two people but there are no rate restrictions or protections. Policies must have a guaranteed issue for employees if there has been no break in their coverage exceeding 63 days in the past 6 months. The maximum exclusion for pre-existing conditions is 12 months.

District of Columbia Home Insurance

District of Columbia home insurance is necessary for people who have outstanding loans on their homes. While it is suggested for every homeowner regardless of debt, it is not legally required. Other than the occasional tornado, there are few if any frequently occurring natural disasters.

District of Columbia Life Insurance

In 1992 the District of Columbia created the District of Columbia Life and Health Insurance Guaranty Association to help consumers still get benefits from their life insurance policies even after insurer insolvency. The group guarantees a benefit of up to $300,000 for life insurance death benefits and up to $100,000 in cash values.

Delaware Auto Insurance

The state of Delaware is not a no-fault state and does not require its residents to carry uninsured motorist coverage. They do, however, require liability insurance, although in very low amounts. Delaware auto insurance regulators require that drivers carry a minimum of $15,000 for single-person injuries and $30,000 for multi-person injuries. They need only carry a minimum of $10,000 for property damage liability.

Delaware Health Insurance

When it comes to Delaware health insurance, the state does not require that insurance companies issue a policy even if the proposed insured has a pre-existing condition and they do not have a state high risk pool to assist those that do. Health Savings Account (HSA) contributions are exempt from state taxes, so a high deductible plan paired with an HSA could be a good solution.

Small groups can get guaranteed issue life insurance in group form-even if the insured has experienced a break in coverage. Groups can be as small as one person and rates are protected by rate bands. The policies are guaranteed issue as long as the individual insureds have had no break in coverage exceeding 63 days during the past 6 months. The maximum allowable exclusion period is 12 months.

Delaware Home Insurance

Delaware home insurance is a pretty simple affair. While your lender might require that you carry insurance, the state itself does not. Delaware is not the location of many natural disasters, although it does occasionally feel the effects of hurricanes on the Atlantic.

Delaware Life Insurance

The Delaware Life and Health Insurance Guaranty Association was created in 1982 to protect Delaware life insurance consumers from the unlikely event of an insurer insolvency. They protect life insurance policy death benefits up to $300,000 and cash values up to $100,000.

Connecticut Auto Insurance

Connecticut auto insurance shoppers must shop for a minimum of $20,000 in single-person bodily injury liability and $40,000 for multi-person incidents. The minimum property damage liability amount for Connecticut is $10,000.

Connecticut auto insurance shoppers should also note that, while personal injury protection is not required in Connecticut, uninsured motorist coverage is. The state is not a no-fault state.

Connecticut Health Insurance

For those Connecticut health insurance shoppers with pre-existing conditions, there is no guarantee in that you will be issued a policy. However, the state does have a high-risk pool that is open for all applicants-not just those who have a medical eligibility. If you choose a high deductible plan with a health savings account (HSA) your contributions to the health savings account are state income tax deductible.

When it comes to group insurance, Connecticut health insurance shoppers may be pleasantly surprised to find that insurers must guarantee the issue of a group policy even to those groups as small as one person. If a person with a pre-existing condition is in the plan, and that person had a break in coverage of 120 days or more in the past 6 months, they can have their condition excluded from coverage for up to 12 months.

Connecticut Home Insurance

There are no special laws or rules that affect Connecticut home insurance shoppers. The state does not experience many natural disasters, but residents should consider hurricane coverage.

Connecticut Life Insurance

The Connecticut Life and Health Insurance Guaranty Association was formed in 1972 to help protect Connecticut life insurance shoppers from the possibility that they may buy a life insurance policy from a company that eventually becomes insolvent.

Connecticut’s association offers one of the more generous assurances of all the states:

In the event your insurer should become insolvent your death benefit is protected up to $500,000 and your cash surrender is protected up to $500,000.

Colorado Auto Insurance

Colorado insurance is relatively straightforward. The state does not require personal injury protection or uninsured motorist coverage and is not a no-fault state. They do have liability requirements which are:

• $25,000 maximum for a single-person injury
• $50,000 maximum for a multiple person injury
• $15,000 maximum for property damage liability

Colorado Health Insurance

If you are shopping for Colorado health insurance and you have a pre-existing condition, take note: Colorado does not require its insurers to issue coverage to you if you have a pre-existing condition. They do, however, have a high-risk pool that can offer insurance solutions if you are denied coverage, don’t have access to group coverage or are quoted unaffordable premiums. If, in your search for Colorado health insurance, you opt for a high deductible health insurance policy and a health savings account (HSA) you can deduct your HSA contributions from your state income taxes.

Colorado is one of the few states that allows self-employed individuals to get single-person group coverage. That means you could get group health insurance for just one individual. Group rates are limited to an adjusted community rating structure and pre-existing conditions can be excluded for up to 6 months if the individual had a 90 day or greater break in coverage over the past 6 months.

Colorado Home Insurance

While lenders may require Colorado home insurance, the state does not so if you own your home in full, the choice to buy insurance is completely up to you. Residents of Colorado should be especially considerate of obtaining coverage for certain natural disasters that often affect the state. These include hurricanes, tornadoes and wildfires.

Colorado Life Insurance

Colorado life insurance customers have limited protection against insurer insolvencies under the Life and Health Insurance Protection Association in Colorado. If a Colorado policyholder is insured with a company that goes bankrupt after July 1, 1991 they may be protected up to $300,000 for death benefits and $100,000 in cash values.

California Auto Insurance

California auto insurance works a little bit differently than other states. In California, drivers must carry at least $15,000 bodily injury liability for a single-person accident and $30,000 for a multi-person injury accident. For property damage liability, California auto insurance customers must have at least $5,000 in coverage. But there is also a low-cost assigned risk plan for certain California drivers that allows for lower limits ($10,000 single-person, $20,000 multi-person and $3,000 property damage).

California is not a no-fault state and they do not require uninsured motorist coverage or personal injury protection.

California Health Insurance

California health insurance is relatively easy to understand. There is no requirement for insurers to offer coverage to those individuals who have pre-existing conditions and there is a high-risk pool for those who have been denied care, have no access to group coverage or who have been quoted excessive, unaffordable rates due to the high risk of claims that they present. The state of California does not offer a state income tax deduction for contributions made to health savings accounts (HSAs).

Groups of 2 or more can get group California health insurance with rates restricted by rate bands. In California, some pre-existing conditions cannot be excluded from group coverage unless a break in coverage over the past 6 months has exceeded 180 days in some circumstances, and the standard 63 days in other circumstances. You should visit the California Department of Insurance website for details.

Pre-existing conditions that are excluded from coverage under a group plan can only be excluded for a maximum of 6 months.

California Home Insurance

When searching for California home insurance, California residents have the freedom to search many different insurers in order to find the policies and premiums they are looking for. California home insurance coverage is particularly important for earthquakes, wildfires and hurricanes since the state has a high rate of incidence for these natural disasters.

California Life Insurance

In order to protect California life insurance customers from the possibility that their insurer could become insolvent and be unable to pay claims on their life insurance policies, The California Life & Health Insurance Guarantee Association was created in 1991. This association can provide payment for 80% of a life insurance customer’s death benefit up to the maximum of $250,000. It also protects 80% of the cash surrender values, up to $100,000.