Becoming An Educated Consumer
Who enjoys shopping for insurance? No one. We all hate it. It means calling office after office giving the same information over and over, or going online for a falsified offer of an instant quote with a locked in rate.
Every person you speak with wants to build rapport with you to win you over from the other three agents or customer service representatives (CSR) you just hung up with and the next one you're going to call as soon as you hang up the phone. Here are three tips how to educate yourself when buying insurance without losing your hair, mind, or more importantly, time.
First, you need to understand shopping for insurance is a complicated process, not just for you but, from an agent's point of view, as well. Insurance companies require a lot of information in order to determine risk and rate such as age of the property, construction materials, interior features, loss history and most importantly your credit risk. Do not be afraid to disclose your Social Security Number (SSN). Most insurance companies require a Social Security Number before even proceeding with an estimate. If your identity is stolen by an agent or an agent's employee, you have plenty of recourse to make yourself whole again. Which ever agent wins your business is required to obtain your personal information anyway so disclosing it upfront can speed up the process. Honestly, insurance companies already have a ton of information on you at their finger tips. It's just easier and less costly for you to disclose your personal information, initially.
Second, know what your property's characteristics are. For example, if you are insuring your home; know the year it was built, the exterior building material, type of plumbing throughout the house, the year the roof was replaced, heating fuel, distance to the nearest fire station, approximate dates the electrical, plumbing, and HVAC systems were last updated. Replacement cost estimating software is only as good as the data input. If you want you property under-insured, then only disclose the basic information needed and hope it's enough in the event of a total loss. Tax assessor websites are getting better about offering property details but even the good ones are still limited in their information. If you have a wet bar, skylights, Jacuzzi bathtub, dual cooing units, elaborate staircase this is the time to disclose that information. No property owner wants to fight the insurance adjuster for extra money at the time of a loss when the wet bar was not disclosed on the application.
Third, be prepared to haggle. After disclosing all the characteristics of your property, discuss the produced numbers with the agent. If you feel the estimate is too high or low, review the data with the agent for accuracy. If you are working with an independent agent (highly recommended) and they are shopping your quote with multiple insurance companies, it is even more important to ensure they are including all eligible discounts. Make sure you are getting credit for all the available discounts offered by the insurance company, it's the easiest way to save money on insurance premiums. If you are shopping for home insurance, be prepared to discuss quoting your auto insurance in order to take advantage of the biggest available discount. Most property insurance companies offer large discounts, up to 20%, if you include your autos with your home. Remember, agents and CSR's are human too and make mistakes, some honest and some not so honest.
In order to save the most amount of money year in and year out, you, the insurance consumer, need to make it a priority to shop for your insurance policies each and every year when the policy is up for renewal. Insurance companies are always raising rates, some higher than others. If you do not take the time to shop, you will pay more premium than necessary. Educated consumers keep more of their money. Are you an educated consumer?
Insurance Lawyers Help Settle Your Claims
When you need to make an insurance claim, you may likely find that dealing with your insurance company is a major hassle. This can be very frustrating since you pay insurance premiums for months or years on end based on the belief that the insurance will be there when you need it. If you find yourself dealing with an insurance company that is not treating you fairly or that is refusing to pay what you are owed for a claim, you need to fight for your rights and take action. An insurance lawyer can help.
How an Insurance Lawyer Will Help
When you make an insurance claim with your insurer, they are obligated to act in good faith in both considering and paying that claim. They are also obligated to fulfill all of the terms of the policy. This means providing you with the full amount of coverage that you purchased.
Unfortunately, insurance companies for all types of insurance products often do not do as they promised or they fail to live up to their end of the bargain you struck when you purchased your insurance policy. For instance, a health insurance company may deny coverage for care that your doctor believes is necessary, or a property insurance company may deny a claim or argue that your property is not worth as much as you claim it to be worth.
When this occurs, you need to fight for your rights to get the insurance payout you deserve. In many cases, doing this on your own can be a complex process. You may not understand exactly what the law allows for you to obtain in a particular insurance claim situation and you may not have the information to back up your belief that you should have broader coverage.
This is where an insurance lawyer comes in. Your attorney specializing in insurance law knows the laws and understands exactly what insurance companies are obligated to do. Your lawyer can interpret the legalese and fine print in your insurance contract and can understand the nuances of the insurance claims process so you can navigate through the process and prove your right to coverage.
In addition to bringing his expert legal knowledge to the table, hiring a lawyer helps you in another important way as well. When you hire an insurance lawyer, you immediately let the insurance company know that they need to take you seriously. They know that you care about your legal rights, that you are an informed customer and that you aren't simply going to let them take advantage of you. This alone can be major incentive for an insurance company to treat you fairly.
When an insurer denies a claim or refuses to pay in bad faith (for no justifiable reason), then the insurer can be sued in a tort claim. This can bring with it significant damages, including- in some cases- punitive damages being assessed against the insurer. Insurers know that this is a potential risk and they will not want to open themselves up to a bad faith lawsuit.
Hiring an insurance lawyer is thus often the best way to secure your legal rights and get the compensation you deserve. Contact attorney today for help.
How an Insurance Lawyer Will Help
When you make an insurance claim with your insurer, they are obligated to act in good faith in both considering and paying that claim. They are also obligated to fulfill all of the terms of the policy. This means providing you with the full amount of coverage that you purchased.
Unfortunately, insurance companies for all types of insurance products often do not do as they promised or they fail to live up to their end of the bargain you struck when you purchased your insurance policy. For instance, a health insurance company may deny coverage for care that your doctor believes is necessary, or a property insurance company may deny a claim or argue that your property is not worth as much as you claim it to be worth.
When this occurs, you need to fight for your rights to get the insurance payout you deserve. In many cases, doing this on your own can be a complex process. You may not understand exactly what the law allows for you to obtain in a particular insurance claim situation and you may not have the information to back up your belief that you should have broader coverage.
This is where an insurance lawyer comes in. Your attorney specializing in insurance law knows the laws and understands exactly what insurance companies are obligated to do. Your lawyer can interpret the legalese and fine print in your insurance contract and can understand the nuances of the insurance claims process so you can navigate through the process and prove your right to coverage.
In addition to bringing his expert legal knowledge to the table, hiring a lawyer helps you in another important way as well. When you hire an insurance lawyer, you immediately let the insurance company know that they need to take you seriously. They know that you care about your legal rights, that you are an informed customer and that you aren't simply going to let them take advantage of you. This alone can be major incentive for an insurance company to treat you fairly.
When an insurer denies a claim or refuses to pay in bad faith (for no justifiable reason), then the insurer can be sued in a tort claim. This can bring with it significant damages, including- in some cases- punitive damages being assessed against the insurer. Insurers know that this is a potential risk and they will not want to open themselves up to a bad faith lawsuit.
Hiring an insurance lawyer is thus often the best way to secure your legal rights and get the compensation you deserve. Contact attorney today for help.
How To Select a Car Insurance Company When There Are So Many To Choose From
In many states there are literally over a hundred car insurance companies to choose from. We are here to help you figure out how to select a car insurance company that fits all your needs. Here is a list of the top 10 car insurance companies:
1) State Farm
2) Allstate
3) GEICO
4) Progressive
5) Farmers
6) Liberty Mutual
7) USAA
8) Nationwide Mutual
9) Travelers
10) American Family Insurance
State Farm is by far the largest car insurance company out there, taking up almost 19% of the total market. Then there's Allstate, GEICO, Progressive and Farmers making up the rest of the top five.
Just because a company is big does not necessarily mean they are the best or most reasonable. You should also look into Liberty Mutual, USAA, Nationwide Mutual, Travelers and finally, American Family Insurance. Again, there are also many more out there that offer car insurance, but the question is how to select a car insurance company that is best for you.
How to select a car insurance company:
The first thing you can do is try to research all of these companies by asking friends who their car insurance provider is and take notes on each of the companies you've heard of. If you don't know that many people or you do not trust their judgment, you should then skip right to investigating for yourself.
You can investigate by several ways, which include looking online for written, non-branded reviews from existing customers, by calling the companies to speak to a representative and by looking at their company websites. All of these things though may be skewed because once you make contact with the insurance company they consider you a lead on a sale and will try to get you to commit to their insurance policy as hard as they can, because insurance salesmen work on commission for their companies. This can be a daunting task for many people though who feel as if they just "cant say no" to anyone or who "fold under pressure" or are easy to convince to buy something.
One other way you can get all the information you need that is less biased is by contacting an independent insurance agent who works with an insurance intermediary service. Insurance Intermediaries provide the independent insurance agent with the largest number of insurance policies for any given topic, whether it is for car insurance, health insurance or whatever else. If your independent agent works with an insurance intermediary, you can be sure that they are not driven by commission of any one company to persuade you to buy a particular brand of insurance. This means that you will get to look at the most policies and work with the agent to find one that really fits in best with your lifestyle, your needs and your budget.
Insurance intermediaries are very helpful not only in selecting the best car insurance company but for selecting insurance for anything else. There is one insurance intermediary service that lists policies for hundreds of different things, like pet insurance or office machines manufacturing insurance. The list seems to be endless.
Hopefully this information was helpful. Good luck in selecting your car insurance company!
1) State Farm
2) Allstate
3) GEICO
4) Progressive
5) Farmers
6) Liberty Mutual
7) USAA
8) Nationwide Mutual
9) Travelers
10) American Family Insurance
State Farm is by far the largest car insurance company out there, taking up almost 19% of the total market. Then there's Allstate, GEICO, Progressive and Farmers making up the rest of the top five.
Just because a company is big does not necessarily mean they are the best or most reasonable. You should also look into Liberty Mutual, USAA, Nationwide Mutual, Travelers and finally, American Family Insurance. Again, there are also many more out there that offer car insurance, but the question is how to select a car insurance company that is best for you.
The first thing you can do is try to research all of these companies by asking friends who their car insurance provider is and take notes on each of the companies you've heard of. If you don't know that many people or you do not trust their judgment, you should then skip right to investigating for yourself.
You can investigate by several ways, which include looking online for written, non-branded reviews from existing customers, by calling the companies to speak to a representative and by looking at their company websites. All of these things though may be skewed because once you make contact with the insurance company they consider you a lead on a sale and will try to get you to commit to their insurance policy as hard as they can, because insurance salesmen work on commission for their companies. This can be a daunting task for many people though who feel as if they just "cant say no" to anyone or who "fold under pressure" or are easy to convince to buy something.
One other way you can get all the information you need that is less biased is by contacting an independent insurance agent who works with an insurance intermediary service. Insurance Intermediaries provide the independent insurance agent with the largest number of insurance policies for any given topic, whether it is for car insurance, health insurance or whatever else. If your independent agent works with an insurance intermediary, you can be sure that they are not driven by commission of any one company to persuade you to buy a particular brand of insurance. This means that you will get to look at the most policies and work with the agent to find one that really fits in best with your lifestyle, your needs and your budget.
Insurance intermediaries are very helpful not only in selecting the best car insurance company but for selecting insurance for anything else. There is one insurance intermediary service that lists policies for hundreds of different things, like pet insurance or office machines manufacturing insurance. The list seems to be endless.
Hopefully this information was helpful. Good luck in selecting your car insurance company!
Top 5 Car Insurance Companies (Esurance, Geico, Allstate, State Farm & Progressive)
GEICO stands for Government Employees Insurance Company. GEICO is the first insurance company to offer 24 hour support. They offer insurance in different fields. But, they are well known in auto insurance field. They started their service in U.S and expanded it to many other countries like Germany, Belgium, Greece, Korea, Japan, Turkey, Ireland and Great Britain. You can contact them via phone or online or in person. They offer insurance policies at cheaper rates and better service. You will be able to receive more discounts form GEICO if you have got good previous driving records.
You can contact Allstate insurance company for a free car insurance estimate. If you have a good driving record for the past 5 years then you can get more discounts from Allstate insurance. They are named so because their service is available in almost all the states. For each state the requirements for car insurance varies. You don't have to worry about these requirements. They have all the details and requirements regarding auto insurance policies for different states. They also have special plans for young and teenage drivers.
State Farm offers many discounts and savings such as the "Discount Double Check" coined from their Green Bay Packers QB Spokesman Aaron Rodgers. On average drivers are able to save up to $150 a year compared to similar auto insurers. While State Farm is a well respected company, there are better options available. However, if you choose to bundle your Home, Car, and other insurances into one, State Farm is a very viable option.
Progressive car insurance company offers good car insurance rates. If you are planning to change your insurance company then you can have a look at their website. They provide good offers to people who migrate from one car insurance company to another. You can request for quotes from them via online. They have a variety of packages from which you can choose one according to your needs. They are considered as one of the most efficient and reliable car insurance companies because of their innovative and customer friendly ideas and policies.
If you are looking for quality legitimate auto insurance, I suggest you choose one of these companies.
Progressive Insurance Company Background and Success Story
Progressive Insurance Company is in the Headlines. Why? Just because of their Progressive insurance commercial which has this terrific looking brunette playing Flo, the store’s banker.
With no Flo, or Stephanie Courtney, would folks outside of the United States, and even From in the United States, even start reading more about Progressive Insurance Company?
It's absolute radiance on the part of Progressive Insurance Company to highlight the actress. People from all around the globe are currently familiar with this car insurance company. If the objective of Progressive Insurance Company is to go international, they are absolutely doing their marketing in a most innovative and subtle style.
And so, for the benefit of all those unfamiliar with Progressive Insurance Company, but tremendously in love with Flo, here’s a little bit of background...On Progressive Insurance Company.
Progressive Insurance Company is an auto insurance corporation that reviews auto insurance from other providers beside their own. They provide a comparative analysis for insurance on motorcycles, RVs, trucks, cars, and just about anything else you can find insurance on.
Started in 1937, today's number 1 automobile insurance website was formed by Joseph Lewis and Jack Green. Their vision was to be able to provide inexpensive security and insurance to automobile owners. They were the first to ever offer installment payment schemes to their customers. This was an innovative way to guard vehicle owners in a way that was inexpensive and reasonable.
After almost 15 years, they were so profitable, they were able to upgrade their offices and move to the core of Cleveland. The growth of Progressive Insurance Company has been steady and amazing. Steady as they were able to withstand any outside threats in the industry, and amazing because they just kept improving their organization, never stopping once in their dream to be Americans most reliable insurance company.
Now, Progressive Insurance Company is continuing to be a driving force in the auto insurance business.
Their motto, offer the Clients the products and services they like - when they want it.
GEICO Auto Insurance, Get the Facts
The Government Employees Insurance Company (GEICO) car insurance used to be available only to government agents. Now, they have become a very competitive car insurance company for the general public. GEICO car insurance is a wholly owned subsidiary of Berkshire Hathaway and boasts well known people such as Warren Buffet and Bill Gates on its board of directors. In 2001 the founder of GEICO car insurance, Leo Goodwin was inducted to the International Insurance Society Hall of Fame because of the success of the company.
GEICO car insurance is one of the most popular budget car insurance companies around and is one of the largest companies in the United States, as a matter of fact as of 2006 GEICO had provided coverage for more than 10 million motor cars, trucks and over vehicles. The company grew to this size based on a concept in the mid 1930's of offering lower premiums to consumers by lowering marketing costs by carefully targeting customer groups. Tony Nicely is now GEICO car insurance's CEO and sums up their way of thinking pretty much the same as the original plan of the 1930's as: excellent coverage, low prices, outstanding customer service.
GEICO car insurance is regarded as the one to beat by many insurance companies and is considered a leader in the industry. GEICO car insurance is provided in the District of Columbia and all U.S. states except Massachusetts. GEICO car insurance is now the largest car insurer in New York, Maryland, the District of Columbia and Hawaii, and is almost at the the top in several other states. GEICO car insurance not only offers low car insurance, but also offers extra savings when you have additional safety and anti-theft devices or if you take out a multi-policy. Considering many house-holds have more than one car the multi-policy discount is a big plus.
GEICO car insurance also performs outstandingly well when it comes to customer services, with a 97% customer satisfaction rate. Customer service lines are always available, in case you should ever require them.
Getting a quote is easy and fast, simply fill in your details and you will receive your quote immediately. Obtaining your quote online is the best way to go, no waiting on the phone to speak to a representative, and you can easily make adjustments to your excess to see how the premium is effected. GEICO car insurance is the nation's largest direct writer of private car insurance, saving you more money that would otherwise have been spent on employing insurance agents.
GEICO car insurance does not stop the savings at just providing you with discount car insurance, they also have the GEICO Privileges program, entitling you to a range of discounts on everyday items or larger purchases like travel & entertainment.
In conclusion, GEICO is hard to beat when you consider their track record for discount rates and superb customer satisfaction. If you are looking for budget reliable car insurance GEICO car insurance is a great choice.
GEICO car insurance is one of the most popular budget car insurance companies around and is one of the largest companies in the United States, as a matter of fact as of 2006 GEICO had provided coverage for more than 10 million motor cars, trucks and over vehicles. The company grew to this size based on a concept in the mid 1930's of offering lower premiums to consumers by lowering marketing costs by carefully targeting customer groups. Tony Nicely is now GEICO car insurance's CEO and sums up their way of thinking pretty much the same as the original plan of the 1930's as: excellent coverage, low prices, outstanding customer service.
GEICO car insurance is regarded as the one to beat by many insurance companies and is considered a leader in the industry. GEICO car insurance is provided in the District of Columbia and all U.S. states except Massachusetts. GEICO car insurance is now the largest car insurer in New York, Maryland, the District of Columbia and Hawaii, and is almost at the the top in several other states. GEICO car insurance not only offers low car insurance, but also offers extra savings when you have additional safety and anti-theft devices or if you take out a multi-policy. Considering many house-holds have more than one car the multi-policy discount is a big plus.
GEICO car insurance also performs outstandingly well when it comes to customer services, with a 97% customer satisfaction rate. Customer service lines are always available, in case you should ever require them.
Getting a quote is easy and fast, simply fill in your details and you will receive your quote immediately. Obtaining your quote online is the best way to go, no waiting on the phone to speak to a representative, and you can easily make adjustments to your excess to see how the premium is effected. GEICO car insurance is the nation's largest direct writer of private car insurance, saving you more money that would otherwise have been spent on employing insurance agents.
GEICO car insurance does not stop the savings at just providing you with discount car insurance, they also have the GEICO Privileges program, entitling you to a range of discounts on everyday items or larger purchases like travel & entertainment.
In conclusion, GEICO is hard to beat when you consider their track record for discount rates and superb customer satisfaction. If you are looking for budget reliable car insurance GEICO car insurance is a great choice.
Things You Should Know About Health Insurance Scams
Fraud in the health insurance industry is not as uncommon as one might have thought. Because of this, it would be very wise of you to be aware of what to look out for so that you can protect yourself from any type of scam. Health care providers like attorneys, diagnostic labs, nursing homes, hospitals and doctors may all try to defraud the consumers.
How Do Service Providers Do It?
There are several different ways in which service providers may defraud health insurance consumers, as listed below:
Things To Look Out For
Protect Yourself
How Do Service Providers Do It?
There are several different ways in which service providers may defraud health insurance consumers, as listed below:
- Billing the insurance companies for costly equipment, tests or treatments that the patient may have never received or had.
- Double triple billing the insurers for the same treatment
- Sell insurance covers of low cost from fake companies
- Providing insured individuals life threatening, dangerous or unnecessary treatments
- Stealing information and using it to bill the insurance companies for false treatments
As an insured party, you may become a victim of such scams which can leave you with damaged credit ratings, medical debt and false health records.
Things To Look Out For
Given below are a few things to look out for when you search for health insurance providers:
- Providers that may bill your insurance company for the services that you never used
- Prescriptions for any type of controlled substances with no medical reason
- Misrepresentation health care or cosmetic procedures that are not covered by the insurance plans
- Billing insurance company for any branded drugs when you actually only got generic drugs.
When you notice any type of medical service provider doing any of the above mentioned things, it is necessary for you to keep all the paperwork handy to use later as a reference and also inform your insurance company immediately.
Protect Yourself
There are a number of things that you can do in order to protect yourself from fraud. Only get insurance from a licensed insurance company. Also check for any type of fraud convictions, consumer complaints against the insurance company that you select. It is also wise to always maintain a detailed record of your medical bills and procedures and review all your bills and statements. Do not sign insurance claim forms if they are blank and avoid salespersons that offer you free advice or health services. Keep your medical information and records protected and know what your insurance policy covers. It is also wise to never pay any of your premiums for insurance in cash and maintain the premium receipts. All of these steps will protect you against health insurance scams in the future.
Legal Expense Insurance – The Great Insurance Scam!
Heard about the Insurance scam where the Insurance Companies scam you -- the unsuspecting innocent policy holder? Have you been told that you have a legal expense policy attached to your car insurance? Have you bought a legal expense insurance policy and been told by your insurance company that they will pay your legal fees in pursuing a personal injury claim? You may be surprised to learn the ugly truth about LEI. LEI is a sham, pure and simple.
The truth is that LEI is really about selling your injury claim. LEI is simply a mechanism for you to contact your insurers and for them to take the claim details and to sell these onto the highest bidder. It's a way for your insurance company to profit from your injury. By telling you that you have legal cover, they get you to automatically contact them to give them the details of your accident; or they call you and tell you that you are already have legal cover to pursue a claim. They then sell on your contact and accident details to a firm that is prepared to buy your claim.
Unfortunately, many law firms (not all) are willing to buy your claim from your insurance company; so your insurers get a backhander and profit from your injury, and all for the privilege of selling on your details. Both your insurance company and the Solicitors are supposed to tell you about the payment by your Solicitors but from our experience they never do. We have yet to hear of a Client that has been told by the Solicitors or the insurers that there injury claim was sold on!
Worst of all and the biggest kick in the teeth, is that the problem with these types of firms is that they buy your injury claim for so much money (anywhere around $900.00) that they no longer have this money to spend on your claim. It's easy to work out that if a firm buys your case for around $900.00, then that is $900.00 less in the pot that the Solicitors can spend on running your claim.
The firms that pay these massive referral fees demanded by insurers for your injury claims, actually make very little on each case because of the extremely high cost of acquiring the case. They have to get in as many claims and spend as little time on each claim as possible and this may mean cutting corners.
Cutting corners may mean:
The truth is that LEI is really about selling your injury claim. LEI is simply a mechanism for you to contact your insurers and for them to take the claim details and to sell these onto the highest bidder. It's a way for your insurance company to profit from your injury. By telling you that you have legal cover, they get you to automatically contact them to give them the details of your accident; or they call you and tell you that you are already have legal cover to pursue a claim. They then sell on your contact and accident details to a firm that is prepared to buy your claim.
Unfortunately, many law firms (not all) are willing to buy your claim from your insurance company; so your insurers get a backhander and profit from your injury, and all for the privilege of selling on your details. Both your insurance company and the Solicitors are supposed to tell you about the payment by your Solicitors but from our experience they never do. We have yet to hear of a Client that has been told by the Solicitors or the insurers that there injury claim was sold on!
Worst of all and the biggest kick in the teeth, is that the problem with these types of firms is that they buy your injury claim for so much money (anywhere around $900.00) that they no longer have this money to spend on your claim. It's easy to work out that if a firm buys your case for around $900.00, then that is $900.00 less in the pot that the Solicitors can spend on running your claim.
Cutting corners may mean:
- Employing young unqualified staff
- High case volumes for there staff to handle
- Poor Client contact
- Missing out the individual elements of your claim
- Generally Poor Service
Independent firms that don't buy claims from insurers can actually spend time on your claim; looking at each case individually; keeping you updated regularly; spending time negotiating with the other insurers and ensuring you get the best result.
You could choose the Solicitors that your insurance company have selected, in the knowledge that your insurers are profiting from your injury and as a result the selected Solicitors have less money to spend on your claim from day 1. OR you can choose independent Solicitors with no middlemen and no backhanders!
You Only Need to Do Two Things to Avoid Travel Insurance Scams
Some people are blessed with a lot of time and money on their hands. They get to travel anywhere they like for as long as they can. These people are even lucky enough to never experience one bad scenario while traveling. The rest of us on the other hand, can get unlucky even on their first trip out of the country thanks to a travel insurance scam.
Swindlers will use any method just to extract money and financial information from you. You have to understand that you can still be a victim by purchasing cheap travel insurance from shady and suspicious companies. People who would exploit your situation and trick you really exist. Caution should be exercised whenever you are buying online because it is easy to fall prey for online scams. To prevent falling into an unfortunate situation, such as you being rejected of a claim you thought was valid, read on and get informed.
Research is essential
Finding a company online is easy to do when you are looking for cheap travel insurance companies. Do not, however, believe everything that is written on their website. As a critical customer, you have to practice the art of researching about a company and verifying vital information on their website. Two of the things you have to verify are their legality and their underwriter.
Finding out whether an insurance provider is legal or not can be done through searching for their license and business numbers on their website. Once you have found their license numbers, do some more research by looking them up against a reliable government regulated website or other sites which can verify the existence of an insurance company. It is not enough to find their license numbers because some scam operators can make up this information.
Any insurance company should have an underwriter, which does the tasks of whether or not they should insure an applicant by measuring the risks involved. Some insurance companies may have more than one underwriter that should be financially stable and regulated. Do some background research about an underwriter by finding international insurance rating organizations to check their credibility.
Open your eyes
Sometimes, all you need to do to avoid scams is to keep yourself aware and informed. Reading the policy name itself can give you a hint whether it is a scam or not. Familiarize yourself with the difference between a "protection" plan and a "travel insurance" plan because they actually mean two different things. These terms are often vaguely used, causing some confusion and wrong assumptions for people who want to purchase insurance.
Read the fine print in your insurance policy. Read your policy very well and never sign it if you do not understand something. Ask questions regarding the policy to avoid any misunderstanding when claiming in the future. In addition, beware of tricky clauses in your policy. Ask a friend who is knowledgeable about the law to help you understand such clauses.
If you find a travel insurance company online, make sure they have a physical address where you can visit them. People who conduct research and keep an eye open for doubtful information can keep themselves protected from scams. Having a stress-free vacation is achievable as long as you have a reliable insurance company while traveling.
Swindlers will use any method just to extract money and financial information from you. You have to understand that you can still be a victim by purchasing cheap travel insurance from shady and suspicious companies. People who would exploit your situation and trick you really exist. Caution should be exercised whenever you are buying online because it is easy to fall prey for online scams. To prevent falling into an unfortunate situation, such as you being rejected of a claim you thought was valid, read on and get informed.
Research is essential
Finding a company online is easy to do when you are looking for cheap travel insurance companies. Do not, however, believe everything that is written on their website. As a critical customer, you have to practice the art of researching about a company and verifying vital information on their website. Two of the things you have to verify are their legality and their underwriter.
Finding out whether an insurance provider is legal or not can be done through searching for their license and business numbers on their website. Once you have found their license numbers, do some more research by looking them up against a reliable government regulated website or other sites which can verify the existence of an insurance company. It is not enough to find their license numbers because some scam operators can make up this information.
Any insurance company should have an underwriter, which does the tasks of whether or not they should insure an applicant by measuring the risks involved. Some insurance companies may have more than one underwriter that should be financially stable and regulated. Do some background research about an underwriter by finding international insurance rating organizations to check their credibility.
Open your eyes
Sometimes, all you need to do to avoid scams is to keep yourself aware and informed. Reading the policy name itself can give you a hint whether it is a scam or not. Familiarize yourself with the difference between a "protection" plan and a "travel insurance" plan because they actually mean two different things. These terms are often vaguely used, causing some confusion and wrong assumptions for people who want to purchase insurance.
Read the fine print in your insurance policy. Read your policy very well and never sign it if you do not understand something. Ask questions regarding the policy to avoid any misunderstanding when claiming in the future. In addition, beware of tricky clauses in your policy. Ask a friend who is knowledgeable about the law to help you understand such clauses.
If you find a travel insurance company online, make sure they have a physical address where you can visit them. People who conduct research and keep an eye open for doubtful information can keep themselves protected from scams. Having a stress-free vacation is achievable as long as you have a reliable insurance company while traveling.
Avoiding Insurance Scams Guidelines
Buying insurance coverage is one of the few solutions to secure our loved ones in the instance of our untimely loss of life. Having a a life insurance policy in place, it is great to be aware of that any of us can leave our special loved one with financial safety. Nonetheless, with insurance agencies come tons of insurance agents, and it is difficult to determine who among these agencies are reliable or maybe available to scam you. Don't let your hard-earned money go to waste. Pay attention to these guidelines to help you avoid life insurance coverage scams.
You may encounter insurance brokers all around you, in shopping malls, the online world, even just outside your house. They can contact you out of nowhere and inquire if you wish to buy life insurance. Not all of these people are seem to swindle you. However, a lot of them may try – in case you allowed them to.
Insurance Agents and Life Insurance Scams
A legitimate insurance firm is duly-licensed by the national government's Insurance Commission. Do not just allow the agent's company ID. Validate it together with the Insurance Commission. If the agent is not able to present any ID card or is not really licensed, DO NOT supply them with any personal information and politely tell them to fuck off.
A reliable and truthful insurance firm will show you the whole coverage to their customers. They are able to respond to every query you ask regarding the insurance firm they're being employed by and the policy that he or she is offering up.
"Agents" that are into insurance policy scams are often in a hurry for you to fork over cash to them. Getting life insurance is a vital decision that should, as far as possible, not be rushed. An excessively pushy insurance broker may be involved in a life insurance scam.
Do not give any delicate or important data; for example your Social Security number, bank-account, as well as present your bank card. Even appropriately accredited insurance brokers might make up a life insurance scam. Moreover, don't mark any information without thoroughly studying them. If there are blank areas, don't sign them, even if the professional says that it is exclusively for formality but not that important. Information you provide on your life insurance application is useful for that business as they are going to apply it the underwriting process.
Life Insurance Scam Promos
Many insurance agents who comprise life assurance frauds use fake advertisements and prizes to lure prospects to purchase an insurance plan. Be on guard when coping with agents who declare you can win a brand new car or will get a freebie from them if you opt for a life insurance plan, product, or service from them. But do remember on the other hand, that there are reliable life insurance providers with legit promos.
When the offer or promotion seems too good to be true, try to be cautious and wise as it usually is. A lot of fraudulent agencies make use of insurance policies to draw in customers, promising a good investment with good return with no showing warranty to the certain offer. Many provide a preferred amount of coverage without substantial changes in your monthly charges.
Before signing a protection plan, make sure that you understand the conditions of the coverage. Don't allow the broker talk you into purchasing a program you do not want. You might also want to know if the agent will earn a special commission offering that particular policy in comparison to the one you originally sought.
Don't pay your premiums by your insurance agent. While most insurance agents are honest and specialists, there are many solutions to settle your premiums. Request any payment choices where you are paying directly to the company. That way, you are sure that the premiums go instantly to the insurance company and never to the banks of insurance agents who might just be into life insurance scams.
You may encounter insurance brokers all around you, in shopping malls, the online world, even just outside your house. They can contact you out of nowhere and inquire if you wish to buy life insurance. Not all of these people are seem to swindle you. However, a lot of them may try – in case you allowed them to.
A legitimate insurance firm is duly-licensed by the national government's Insurance Commission. Do not just allow the agent's company ID. Validate it together with the Insurance Commission. If the agent is not able to present any ID card or is not really licensed, DO NOT supply them with any personal information and politely tell them to fuck off.
A reliable and truthful insurance firm will show you the whole coverage to their customers. They are able to respond to every query you ask regarding the insurance firm they're being employed by and the policy that he or she is offering up.
"Agents" that are into insurance policy scams are often in a hurry for you to fork over cash to them. Getting life insurance is a vital decision that should, as far as possible, not be rushed. An excessively pushy insurance broker may be involved in a life insurance scam.
Do not give any delicate or important data; for example your Social Security number, bank-account, as well as present your bank card. Even appropriately accredited insurance brokers might make up a life insurance scam. Moreover, don't mark any information without thoroughly studying them. If there are blank areas, don't sign them, even if the professional says that it is exclusively for formality but not that important. Information you provide on your life insurance application is useful for that business as they are going to apply it the underwriting process.
Life Insurance Scam Promos
Many insurance agents who comprise life assurance frauds use fake advertisements and prizes to lure prospects to purchase an insurance plan. Be on guard when coping with agents who declare you can win a brand new car or will get a freebie from them if you opt for a life insurance plan, product, or service from them. But do remember on the other hand, that there are reliable life insurance providers with legit promos.
When the offer or promotion seems too good to be true, try to be cautious and wise as it usually is. A lot of fraudulent agencies make use of insurance policies to draw in customers, promising a good investment with good return with no showing warranty to the certain offer. Many provide a preferred amount of coverage without substantial changes in your monthly charges.
Before signing a protection plan, make sure that you understand the conditions of the coverage. Don't allow the broker talk you into purchasing a program you do not want. You might also want to know if the agent will earn a special commission offering that particular policy in comparison to the one you originally sought.
Don't pay your premiums by your insurance agent. While most insurance agents are honest and specialists, there are many solutions to settle your premiums. Request any payment choices where you are paying directly to the company. That way, you are sure that the premiums go instantly to the insurance company and never to the banks of insurance agents who might just be into life insurance scams.
Know About Auto Insurance Scams and Frauds
Car insurance fraud is a crime that is committed when one acts with the intention of creating a situation, where one can make a claim against his or another driver's insurance company. Car insurance scams cost insurance companies billions of dollars every year. Unfortunately, car insurance fraud affects you whether you participate in it or not.
There are some common kinds of car insurance fraud that have been experienced. They are as follows:
1. To fake that the car is stolen: One of the most common sorts of car insurance fraud occurs when someone simply parks their car somewhere secluded or has someone takes the car and hide it, and they report their car was stolen. It takes few months for the insurance company to pay on this claim in this situation. The person, who reported their car as stolen, uses the money to pay off their car, if they owe money on it. Once the car is found, it belongs to the insurance company and company cannot force that the person to pay back the money and take back the possession of car. This increases the insurance company expenses, so that to cover the expenses the company may hike the premiums of the policies.
2. Shipping a car outside of the country: This type of fraud occurs when someone has a car for which there is high demand in another country. In such a situation, people who intent to scam, simply ship the car there and sell it, and they report to their car as stolen to the insurance company. In this case, they receive money from the insurance company as well as from the sale of the car.
This kind of car insurance fraud, known as hard fraud, is one committed by the car owner. There are also some 'soft frauds' that are made by the scammer to get the benefits of car insurance. Such scams are dangerous to the car insurance holder. These are so called because the scammers tend to falsify facts on the car etc. to mislead the insurance company and car owners. Some of the methods of the crime are mentioned here:
T bone: This is done by the criminal. This normally takes place on a desolate street. The criminal car will wait an intersection for a potential victim to drive up. Once the criminal sees a car, they speed up and collide into the victim's car as it passes through the intersection. A gang of bogus witnesses to the scammer's design in the area mislead the police and claim that the victim ran a red light or a stop sign.
The wave: In a crowded street with heavy traffic, when the scammer finds a car intending to change lanes, he gives a signal of consent by waving. Exactly when the car is changing the lane, he causes a collision with the car. When the police arrive, the criminal driver will disclaim any knowledge of the wave and thus falsifies the victim.
Side swipe: In a double turn lane, the fraudsters' car waits until the victim's car drifts into the far lane. At the moment, they will hit the gas, and side swipe the victim's car.
Paper Accident: Criminals, along with shady participants in an auto body shop, submit a fake claim for an apparition accident. They keep the claim under $1000, since car insurers will rarely investigate claim for that amount.
Auto insurers are aware of these frauds and should closely analyze the case taking the material facts and other sort of evidence into account. It would help save them from such threats.
How to Avoid Car Insurance Scams
Car insurance scams are an increasing reality these days. It's easy to think it doesn't have anything to do with you, but the reality is that other customers, including you, pick up the tab when anyone scams an insurance company. People who are involved in scams often don't realize the effect of their actions. But the effects are far reaching.
Your Policy is a Legally Binding Document
When you agree to an insurance policy, you are entering into a legal contract with the insurance company. You should read it carefully, and be aware of your responsibilities, as well as your insurance company's. Your policy should clearly state under what circumstances you are covered, or not covered. For instance, you will probably not be covered if your car is insured for personal use and you drive it for work purposes. Or if someone who is not on the policy drives, they won't be covered. If you lie about the circumstances under which you are making a claim, you are breaking your contract, and the law!
Your Premium is a Reflection of your Risk
When an insurance company agrees to insure you, they make an assessment of the risk associated with your policy. Many factors go into this assessment, not just your driving record, but where you live, your gender, age, and where and how much you will drive your car. When your premium is calculated they ensure that statistically, averaged over many policies and claims, they can afford to provide all their customers with coverage.
Car insurance is expensive because replacing and repairing cars is expensive, and so is medical treatment. Some may find it tempting to lie about their circumstances in order to lower their premiums, or make an illegitimate claim. So easy to say you weren't driving your car for work purposes, if you weren't covered for it. But driving a car for work increases the risk of an accident, and means the insurance company is undercharging you. When insurance companies undercharge for insurance, or pay off illegitimate claims, they lose money.
Everyone Pays for Scams
Insurance companies do not have deep pockets to pay for illegitimate claims. They are businesses like any other, and if their expenses go up, the only way they have to balance their books is to raise their rates. This affects every customer. That means that a small portion of your premium is probably going to have to pay for someone else's insurance scam. That's why insurance companies are diligent in making sure that every claim is legitimate. They are protecting their honest customers by ensuring that every claim is valid. When someone scams an insurance company, they aren't scamming a nameless faceless business entity; they are really scamming their friends and neighbors.
Your Policy is a Legally Binding Document
When you agree to an insurance policy, you are entering into a legal contract with the insurance company. You should read it carefully, and be aware of your responsibilities, as well as your insurance company's. Your policy should clearly state under what circumstances you are covered, or not covered. For instance, you will probably not be covered if your car is insured for personal use and you drive it for work purposes. Or if someone who is not on the policy drives, they won't be covered. If you lie about the circumstances under which you are making a claim, you are breaking your contract, and the law!
Your Premium is a Reflection of your Risk
When an insurance company agrees to insure you, they make an assessment of the risk associated with your policy. Many factors go into this assessment, not just your driving record, but where you live, your gender, age, and where and how much you will drive your car. When your premium is calculated they ensure that statistically, averaged over many policies and claims, they can afford to provide all their customers with coverage.
Car insurance is expensive because replacing and repairing cars is expensive, and so is medical treatment. Some may find it tempting to lie about their circumstances in order to lower their premiums, or make an illegitimate claim. So easy to say you weren't driving your car for work purposes, if you weren't covered for it. But driving a car for work increases the risk of an accident, and means the insurance company is undercharging you. When insurance companies undercharge for insurance, or pay off illegitimate claims, they lose money.
Everyone Pays for Scams
Insurance companies do not have deep pockets to pay for illegitimate claims. They are businesses like any other, and if their expenses go up, the only way they have to balance their books is to raise their rates. This affects every customer. That means that a small portion of your premium is probably going to have to pay for someone else's insurance scam. That's why insurance companies are diligent in making sure that every claim is legitimate. They are protecting their honest customers by ensuring that every claim is valid. When someone scams an insurance company, they aren't scamming a nameless faceless business entity; they are really scamming their friends and neighbors.
Health Insurance Scams – Protect Yourself From Cheats
Health insurance is vital to one and all. As rising medical expenses is driving more and more people to opt for health insurance, there are several people who unknowingly fall prey to scams of health insurance. They get lured by the unbelievably low premiums charged by these unauthorized insurance companies. These people who fall prey do not realize that there are many fake companies just trying to squeeze out money from their innocent victims. But, with so many insurance providers how do you know the real ones from the fakes? The number of companies running scams has been on the increase as many people are now opting to get health insurance but looking to get the best out of it. So, how does one ensure that they are protecting themselves from these cheats and at the same time getting the best for their money?
While looking for health insurance, it is best to avoid companies that are providing insurance at unbelievably low prices that does not sound feasible in anyway. Many people try to check for the best deal while trying to get health insurance and end up with no insurance coverage in the event of an emergency as they have been the victim of a scam. You must know what to look out for while having a discussion with the insurance provider in order to differentiate between a fake and a real provider.
Being professionals, these fake companies will know how to cheat the gullible people without them suspecting even for a moment that they are being taken for a ride. They will carry paperwork and everything else that a real insurer will be bound to carry with them and will make it look like the real thing. The most common way in which these fake insurers will scam people is to sell something that is not an insurance plan and will usually be something like a discount program. The company will contact the people over the phone and is usually targeted at individuals who have problems in affording insurance or do not actually be eligible to take health insurance. Also, you should look out if the representative says that their plans are reinsured. Although many real insurance companies opt for reinsurance as a protection measure, this feature is never conveyed to the customers.
It is difficult for a common man to segregate the bad apples from the good ones. As people running scams are thorough professionals and follow the protocol of the real ones, it becomes increasingly difficult to spot a scam from a real one. So, be aware of everything about health insurance in order to avoid becoming the victim of a scam. If someone reaches you over the telephone and tries to sell you some kind of health insurance that sounds too good to be true, try questioning the person in every manner possible to prevent becoming the victim to a scam. If you still doubt the person to be running a scam, ensure that you contact the state insurance regulators who are the authorities in the field of insurance to investigate these people and bring them to book if they are running a fake operation. This will not only protect you it will also ensure the safety of others who can fall prey to these smooth operators.
Being professionals, these fake companies will know how to cheat the gullible people without them suspecting even for a moment that they are being taken for a ride. They will carry paperwork and everything else that a real insurer will be bound to carry with them and will make it look like the real thing. The most common way in which these fake insurers will scam people is to sell something that is not an insurance plan and will usually be something like a discount program. The company will contact the people over the phone and is usually targeted at individuals who have problems in affording insurance or do not actually be eligible to take health insurance. Also, you should look out if the representative says that their plans are reinsured. Although many real insurance companies opt for reinsurance as a protection measure, this feature is never conveyed to the customers.
It is difficult for a common man to segregate the bad apples from the good ones. As people running scams are thorough professionals and follow the protocol of the real ones, it becomes increasingly difficult to spot a scam from a real one. So, be aware of everything about health insurance in order to avoid becoming the victim of a scam. If someone reaches you over the telephone and tries to sell you some kind of health insurance that sounds too good to be true, try questioning the person in every manner possible to prevent becoming the victim to a scam. If you still doubt the person to be running a scam, ensure that you contact the state insurance regulators who are the authorities in the field of insurance to investigate these people and bring them to book if they are running a fake operation. This will not only protect you it will also ensure the safety of others who can fall prey to these smooth operators.
How To Avoid Insurance Scams
Although there are many very honest and excellent insurance companies and agents, there are also some who want to take away as much of your money as possible whilst giving you little or no real cover. It is important that you know about some of the various insurance scams and how to avoid them, as this will save you money and also give you the peace of mind that you are covered should anything happen and you need to claim.
Misleading policies
Perhaps the biggest insurance scam to avoid is being suckered into buying a policy that you don't really want or that does not give you what you have asked for. This sort of scam is often the hardest to avoid, because it is not just a case of people tricking you on purpose. You can also be the victim of insurance sales people who simply don't listen to your needs and don't have the right expertise to help you. If you are offered a policy but it seems confusing or not what you want, then don't sign for it.
Claims denied
One problem that people find when they use a poor insurance company is that when they need to claim back off their insurance their claim is denied. Some insurance companies simply don't have the money to pay out your claim, and hope that you will never need to claim for such large amounts. Before buying any type of insurance make sure that you research the insurer and confirm that they can and will pay out for eligible claims.
Unnecessary Clauses
One problem that many people have is that they end up with an insurance policy that gives them cover for things that they have no use for. For example, you might get some travel insurance but end up paying £15 more for it because it includes extreme sports cover. Many insurers use the technique of including everything that you may or may not need and hope that you won't query these items. Make sure that before you sign any agreement you look at what you are covered for, and if there are things you know that you don't need then get them removed. This may help you get a lower price for your insurance.
Too much small print
Another way that insurers can trick you is by putting the important issues of your insurance in the smallest print possible. These insurers hope that you will not read this small print or will overlook something that is making them extra money or leaving you without cover. Again, check all of the clauses in the contract, especially the small print. If there is anything you don't like then get it changed or do not sign.
Insurance you don't know about
One of the most frequently used ploys is to sell you insurance that you don't even know you are paying for. This is usually done by lending institutions that include payment protection insurance in your loan payments without your explicit knowledge, meaning that you pay for insurance that you might not want or even need. If you get a loan make sure you are not paying extra for insurance that you don't need. If you read through things carefully and seek good independent advice then you won't be caught out by these insurance scams.
Misleading policies
Perhaps the biggest insurance scam to avoid is being suckered into buying a policy that you don't really want or that does not give you what you have asked for. This sort of scam is often the hardest to avoid, because it is not just a case of people tricking you on purpose. You can also be the victim of insurance sales people who simply don't listen to your needs and don't have the right expertise to help you. If you are offered a policy but it seems confusing or not what you want, then don't sign for it.
Claims denied
One problem that people find when they use a poor insurance company is that when they need to claim back off their insurance their claim is denied. Some insurance companies simply don't have the money to pay out your claim, and hope that you will never need to claim for such large amounts. Before buying any type of insurance make sure that you research the insurer and confirm that they can and will pay out for eligible claims.
Unnecessary Clauses
One problem that many people have is that they end up with an insurance policy that gives them cover for things that they have no use for. For example, you might get some travel insurance but end up paying £15 more for it because it includes extreme sports cover. Many insurers use the technique of including everything that you may or may not need and hope that you won't query these items. Make sure that before you sign any agreement you look at what you are covered for, and if there are things you know that you don't need then get them removed. This may help you get a lower price for your insurance.
Too much small print
Another way that insurers can trick you is by putting the important issues of your insurance in the smallest print possible. These insurers hope that you will not read this small print or will overlook something that is making them extra money or leaving you without cover. Again, check all of the clauses in the contract, especially the small print. If there is anything you don't like then get it changed or do not sign.
Insurance you don't know about
One of the most frequently used ploys is to sell you insurance that you don't even know you are paying for. This is usually done by lending institutions that include payment protection insurance in your loan payments without your explicit knowledge, meaning that you pay for insurance that you might not want or even need. If you get a loan make sure you are not paying extra for insurance that you don't need. If you read through things carefully and seek good independent advice then you won't be caught out by these insurance scams.
