After seeing earthquakes rip through Japan and New Zealand, California is now being eyeballed as many realize how under-insured residents truly are. A new bill backed by California senators, Barbara Boxer and Dianne Feinstein, is promising high insurance premiums to be cut by 30% and a reduction of large deductibles for homeowners – without having to come out of the tax-payers pocket. The bill proposes that the California Earthquake Authority, a state run non-profit insurance program, will be allowed to apply for what’s called a, “guaranteed federal loan” in the event…
Read MoreAuthor: Loreen
Overall lower auto rates for Californians
California’s median auto insurance rate has decreased by 3.1% according to reports from InsWeb, an online insurance quote database. The decreased occurred over the past year with the national average following a similar pattern and dropping by 5.6% over the same time period. California currently ranks as the 19th most expensive state in which to insure a vehicle in the U.S. The report suggests that Californian males pay more for their auto insurance than women by nearly 7.7%. Drivers aged 19 and younger pay nearly double the rates of any…
Read MoreAn eye opener to insurance fraud
Insurance fraud claims have been rising, and it seems consumer’s tolerance to the wrongdoing has risen also. The 2010 statistics show that the fraud claims totaled 80 billion dollars last year. It has been referred to as a white collar crime, and many people consider it a “victimless” crime. Why would someone file a bogus insurance claim? In the case of a Connecticut man, it seems he committed the crime out of spite. The 62 year old man was a former advertising executive and was being divorced by his wife…
Read MoreNew York drivers in for steeper point surcharges
The cost of driving in New York can add up and it’s going to get higher. Starting next week drivers better hang up while behind the wheel or they’ll face a steeper penalty on their record. Driving while talking on the phone has been illegal for many years but only now has the point count gone from 1 point to 2. The state requirement allows 11 points over an 18 month time period before you’ll lose your license. Experts agree, since car insurance rates are based on the amount of…
Read MoreThe Nation’s scorecard for health care performance
The Commonwealth Fund, a private foundation that promotes higher performing levels of health care, released a new report showing a state to state comparison of health care performance. The report or some refer to as a scorecard, paid special attention to children’s health care and was judged on 20 different criteria’s, some of those being: access to care, treatments, insurance and prevention. Cathy Schoen, senior VP of the Commonwealth Fund, stated in a news release, “The study demonstrates how policies designed to maintain children’s health insurance and access to health…
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