Blog by Neda
Seeing Increased Rates on Auto Policies?
Oct 11, 18
We have been getting a lot of phone calls regarding the noticeable increase in rates on your auto insurance policies.
Insurance carriers across the industry are paying more in auto claims than they have in the past, which leads to rising premiums.
Here are a few reasons:
More new cars are on the road and they are being driven more than ever before.
Drivers are more distracted with cell phones. An estimated 660,000 drivers were using electronic devices while driving during the daylight in 2015. 885,000 Crashes, 391,000 Injuries, 3,477 Fatalities. Be careful out there!
New auto technology protects us but at a cost. The average repair cost from 2009 to 2015 increased $367.00.
Here are some examples: The Toyota Camry Headlamp was $367.00, it's now $941.00. Honda Accord LX in 1996 had 13 parts, but now has over 23 parts. The Acura ILX, in 2014 did not have Distance Sensors. In 2016 this was a new part and expense of $1000.
Claims have increased across the industry.
The average cost per paid bodily injury liability claim increased 32.71% from 2005 to 2013.
If you are seeing an increase on your policy, allow us to compare carriers and get quotes for you.
We are here for you!
Covered California Open Enrollment 2019 Begins this Month!
Oct 05, 18
Open Enrollment for Covered California begins on October 15, 2018 and continues until January 15, 2019.
Get covered and Feel Better! I hope you'll consider these for you and your family, if you qualify.
These Options are available during this time period:
Buy a plan through Covered California.
Qualifying usually depends on your income and household size.
Your total household income must be between 128% and 400% of the federal poverty level, or FPL.
Renew or change your current plan.
You won’t have to do anything if you want to keep what you have. But if your current plan is changing - for instance, your Primary Care Provider is leaving the network, or your drugs aren’t in the list of covered medications - then you may want to switch to a plan that best suits your current needs. If you need to change policies, the open enrollment period is the best time.
Enroll in Medi-Cal.
If your income is below 128% of the Federal Poverty Level, you qualify for Medi-Cal, which is Medicaid for Californians.
If this will make your life easier and you need the insurance, we are here for you.
Health Insurance 2017
Jan 28, 17
With this weeks weather being cold and raining make sure your take extra vitamins (Vitamin C, Zinc, Echinacea, etc.) to ensure you don't get a cold or the flu. If you get the flu, is going the doctor costing you a arm and a leg? If so we have until the 31st to take a look at some new copay options for you and your family. Some plans starting as low as $5 Primary Care Doctors visits, $15 Specialist Visits. Give me a call 949-428-3321 to make sure you have a affordable plan ready to go for March 1st effective date.
Open Enrollment Period
Oct 27, 16
This post is from Suze Orman:
Aug 18, 16
Do you know what the liability coverage is on your auto policy? Do you have an umbrella to cover excess liability if need be? Financial wipeout is a bummer place to be at any age - it can be avoided though.
This morning I read a story about a woman who hit a bicyclist in an auto accident June 27, 2013. The bicyclist was badly injured. Today the woman is closing out bank savings, her 401k and IRA - she has to give the money from these accounts to the bicyclist. After today, she will have zero saved for retirement and nothing in savings....she starts over at 46 years old. She is short about $255,000 (auto policy paid $100,000 and she had $280,000 in savings and retirement accounts), but settlement is $635,000.
The woman’s auto policy with $100,000/$300,000 liability paid the max of $100,000 (this is the per person limit). But the medical bills, loss of wages (past/future), permanent injury to knee and such resulted in a $635,000 award to bicyclist.
Today she is setting up court ordered wage garnishment with her employer. She is embarrassed to go to her HR department for this, but has to. She will have large monthly payments taken from paycheck until the remaining debt is paid. If she gets a bonus, gets an inheritance, wins at gambling or whatever, these get taken. Only when the debt of $255,000 is paid will she have extra money. Filing bankruptcy isn't an option, it isn't allowed when a personal injury judgement is involved - this is a debt that can't be dismissed in bankruptcy.
So why am I posting this story on Facebook? You need to take a look at your auto policy today. What are the limits? If they are $100,000/$300,000 or less, call your agent and ask for an increase to the max they offer. Then buy a $1M umbrella - it won't be more than $150 or $200 depending on how many drivers and cars you have.
I know it seems tempting to choose a lower deductible. But lower deductibles can actually end up costing you plenty. The old saying of PAY NOW or PAY LATER applies to your auto insurance. Better to spend a little more each year in premium - maybe a few hundred dollars - than to spend a lot more later - like hundreds of thousands - out of your own pocket by emptying your savings, retirement, investments and any equity you might have in a home.
Kentucky probes Humana letter on insurance renewals
Sep 09, 15
-- LOUISVILLE, Ky. -- The letter Ray Brundige received from Humana spelled out two options - keep his health insurance policy for one more year for a $279 monthly premium or choose a new one that complies with the Affordable Care Act and pay a whopping ...
Long term care insurance premiums on the rise
Sep 09, 15
-- Sharp increases in rate requests for long-term care insurance are raising the chances that the next wave of retirees may not be able to afford coverage for assisted living, nursing homes, and related health services. Since early 2012, the Massachusetts Division of Insurance ...
Taxpayers Turn U.S. Farmers Into Fat Cats With Subsidies
Sep 09, 15
-- Depression-era program intended to save the nation's farmers from ruin has grown into a 21st-century crutch enabling affluent growers and financial institutions to thrive at U.S. taxpayer expense. Federal crop insurance encourages farmers to gamble on risky plantings in a program that has ....
For millions, insurance will cost less than $100/month
Sep 09, 15
A report obtained by USA TODAY says the lower premiums primarily apply to "silver" plans. WASHINGTON -- Insurance News -- About 6.4 million Americans eligible to buy insurance through the new health exchanges will pay $100 or less a month in premiums because of tax subsidies, according ...
For-Profit Online Insurance Brokers Gear Up To Sell Obamacare
Sep 09, 15
-- When the Affordable Care Act was working its way through Congress, Gary Lauer was nervous. Part of the bill sounded grim. It said people could buy required health coverage online, but only through websites run by state and federal governments. "That was going to ...