Cheap Insurance and Speeding: Does It Matter?

In September 2011, Maine became the only state east of the Mississippi River to have a stretch of highway where 75 mph is the legal speed limit. According to locals, no one ever obeyed the old limit along the isolated stretch of Interstate 95 anyway.

Now, for approximately 110 miles starting north of Bangor, motorists can legally put the pedal to the metal. Drivers who don’t get ticketed don’t have trouble keeping cheap insurance rates, but what’s the real story on speeding and auto risk? Continue reading

Cheap Auto Insurance: Technology Allows Policies to Get More Personal

Over the past few years, the cheapest auto insurance offerings have trended toward greater personalization of individual policies in an effort to apply more realistic risk models. At the same time, available benefits are more attuned to real-world values that extend beyond simply paying in the event of an accident. Continue reading

Strange Insurance: You Can’t Really Get Coverage for That, Can You?

Insurance topics, on a whole, tend to be pretty straightforward. People want to know how to get the cheapest auto insurance or the most inexpensive, but comprehensive, health insurance. They look for articles to explain loopholes in homeowners insurance and explanations of why flood insurance might be necessary. Very, very few people think about insuring themselves against alien abduction or paranormal activity.

And yet, those kinds of policies do exist. Continue reading

Cheap Auto Insurance for Teens, High Rates for a High Risk Population

The statistics regarding teenage drivers and auto safety are not only frightening, but have serious implications for the affordability of their parents’ auto insurance policies.

In 2009, every single day, 16 to 19 teenage drivers died from injuries sustained in an automobile crash. This makes young drivers four times more likely to be killed in a crash than older motorists. The vast majority of these accidents were preventable. Continue reading

Demand for Flood Insurance Spikes on Eastern Seaboard

In the aftermath of Hurricane’s Irene and Lee, residents in states along the eastern seaboard are seeking flood insurance in droves. Inquiries and applications for the coverage are up 30 percent over a year ago. What many of these would-be customers are finding out, however, is that the policies are better tailored for residents of Florida than people living in Pennsylvania, Vermont, or New Jersey.

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Unemployment in U.S. Deepens Health Insurance Crisis

On Tuesday, September 13, the Census Bureau released some shocking figures reflecting the current standard of living in the United States. Approximately 46.2 million people in this country are poor, and 49.9 million have no heath insurance coverage whatsoever.

The national poverty rate stands at 15.1 percent, up from 14.3 percent in 2010. That’s the highest level since 1982. Mississippi has the deepest poverty level at 22.7 percent; New Hampshire the lightest at 6.6 percent. Continue reading

After the Storm: Making Sure Your Insurer Pays Up

In the aftermath of Hurricane Irene and Tropical Storm Lee, many policy holders will file damage claims only to discover how hard it can really be to collect benefits from homeowners and disaster coverage. The fallout from Hurricane Katrina in 2005 changed the dynamic between insurers and policy holders. Deductibles for hurricane wind coverage have steadily climbed upward while other policy limitations have crept into the fine print, lying undiscovered until a claim is filed. The simple fact is that insurers don’t want to pay benefits, which appear as a loss on their books. If they can get out of paying you, they will.
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First Time Homeowner Insurance Guide

Understanding Homeowners Insurance as Part of the Total Cost of Home Ownership

All too often first-time home buyers make the critical mistake of failing to calculate the total monthly cost of owning the property. They fixate on their interest rate and mortgage, and don’t remember that they will also be responsible for the cost of their homeowners insurance, utilities, HOA dues (if applicable), and taxes.
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Cheap Health Insurance May Disappear As Companies Consider Dropping Benefits

The results of an insurance industry survey conducted by the consulting firm Tower Watson has revealed disturbing changes in the wind for 2014 when federal insurance exchanges will begin to operate under the Affordable Care Act. One in ten of the companies contacted for the survey said they would discontinue offering health insurance as an employee benefit, with an additional 20 percent undecided.
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Cheap Insurance for Homeowners Could Suffer from the Advance of Hurricane Irene

If Hurricane Irene strikes the southeast United States the weekend of August 26 as expected, the event could be exactly what the insurance industry wants. While insurers won’t like paying out settlements, they will like having a valid excuse to raise rates after three years with no significant storm activity. Irene is predicted to graze east Florida, potentially making landfall in the Carolinas (with a margin of error of about 250 miles). Currently the strengthening hurricane is threatening the Turks and Caicos, the Bahamas, and Puerto Rico. It’s also threatening the cheap insurance rates of everyone living in its path.
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