Today’s News: States Sue Gov’t Over Health Overhaul, Senate Votes Down NFIP and Smokers Pay More for Insurance

June 23, 2010 – 9:03 am

The government is in the process of battling state attorneys who say it does not have the Constitutional right to force people to carry health insurance while a study has found that Kansas smokers are likely to pay more for their coverage. In other insurance news, Senate has voted to not renew the National Flood Insurance Program for the time being.

States Sue Government Over Health Overhaul

The federal government is preparing to respond to at least 20 state attorneys that have filed suit against it to stop it from requiring all Americans to carry health insurance.

According to current health care reform law, nearly all legal residents who do not carry health coverage will be required to pay a penalty of at least $695 per person annually or 2.5 percent of income starting in 2014.

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Maximize your insurance leads – Ask for referrals!

June 23, 2010 – 1:05 am

Many professionals, insurance agent or not, don’t like to ask for referrals. One of the best ways to find new insurance business, however, is from referrals and they don’t just have to come from the insurance customers who walk through your front door. You can earn referral business through your insurance leads as well!

First, let’s talk about the basics of getting referrals.

1) Keep customers happy. The key to any successful business relationship is mutual satisfaction. Both parties must be happy with the byproduct of the transaction or sale.

2) Avoid insurance lingo.

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Men likelier to have comprehensive car insurance

June 22, 2010 – 11:29 pm

Recent research commissioned by Post Office Car Insurance has revealed that when it comes to comprehensive car insurance it’s men who are in the fast lane, with 58% possessing such a policy compared to 44% of women.

Post Office Car Insurance strongly advocates taking out a comprehensive insurance policy to protect against accidents, theft or breakdowns.

The firm’s research also indicates that there has been a 51% rise in individual comprehensive car insurance policies, suggesting that consumers are now opting for greater protection.

Motorists are also advised to ensure they are fully aware of their precise policy details, so that they know exactly what they are protected against.

Post Office Car Insurance offers third party, third party fire and theft insurance, and comprehensive car insurance for those wanting the broadest range of coverage.

 

Related stories to Men likelier to have comprehensive car insurance:

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  • Floods yet to affect motor insurance premiums
  • Intermediaries Offer Best Motor Premiums
  • Hiscox and Maserati team up
  • Greenbee enters car insurance market
  • Further delay for Equitable Life policyholders
  • Car insurance premiums rise 5.24%
  • Fair Investment urge Christmas pets to be insured
  • Heath Lambert partners hospice for home and travel launch
  • New car buyers must check replacement cover

Insurance Tip for the Week: Know About the Gap Insurance Resource Center

June 19, 2010 – 1:17 pm

Now the About.com Personal Insurance site has its own designated gap insurance resource center. Gap insurance is a popular topic here on the personal insurance site, so I wanted to expand a special area for it. You will find general information on gap insurance, gap insurance requirements, information about who needs gap insurance and much more. I have more gap insurance articles planned so check back in the future for additional gap insurance information.

Getting Auto Insurance as a High Risk Driver

June 19, 2010 – 2:52 am

A driver who is viewed by insurers as a higher risk to cover can have a more difficult time finding coverage at an affordable rate, but comparison shopping can be the key to reasonable premiums.  Dependent on the reason why a driver ;may be looked at as riskier to insure can be a number of reasons, but acknowledging them and finding a carrier who is willing to except risks can save thousands of dollars.A common way that a driver can find themselves in the high risk pool is by being convicted of driving under the influence of alcohol or drugs (DUI); this is a very dangerous practice and statistics show that motorists who have been convicted driving under the influence are likely to receive a second offense.

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Regs May Pit States Against Treasury

June 15, 2010 – 8:13 pm

A little-noticed provision in the Wall Street reform bill illustrates one of the central questions of the effort: 

Who should be in charge of regulating the industry? 

A Senate provision that would create a national insurance office in the Treasury Department has sparked a debate over how much authority the federal government should have to overrule state laws. 

The House bill puts stricter limits on the federal authority and gives more leeway to the states. Th

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