Insurance: August 2009 Archives

Insurance Expert On Pet Insurance

By
Karen Olson
on August 27, 2009 12:00 PM | | TrackBacks (0)

If you are a pet owner, chances are your family friend will get an illness and need medical attention at least once or twice during their lifespan. So, how can people protect against the rising cost of medical services for their pets? Pet insurance may be the answer.  Pet insurance expert, Jared Katz writes:

If you’re considering pet insurance, here are three questions you should ask to find a plan that is right for you:

1.) What are my deductible options? Choosing a higher deductible will lower your monthly premium, but means your out-of-pocket costs will be higher each time your pet begins a new medical treatment. Choosing a lower deductible will increase your monthly premium, but means your out-of-pocket costs will be lower. Make sure that the pet insurance plan you choose offers you the flexibility to change plans and deductibles depending on your needs today and in the future.

2.) What is covered by the plan? Many plans reimburse pet owners for 80% of the cost of treatment after the deductible is met for illnesses, accidents, injuries and many other veterinary services. Make sure the plan allows you to visit any licensed veterinarian and provides coverage for emergency care. Find out if the plan will cover chronic illnesses such as diabetes or cancer and the specialists who treat those conditions. Consider asking about preventive care coverage, because many plans offer optional coverage for preventive measures such as annual exams, vaccinations or teeth cleanings.

3.) What is excluded from the plan? Most plans exclude the health issues that your pet has before you sign up for the policy, whether or not they were previously diagnosed or treated. These may include the congenital conditions your pet is born with or conditions that some breeds are susceptible to. Make sure the policy you choose clearly states what is and is not covered in a way that is easy to understand. And remember, buying a pet insurance plan when your dog or cat is young means they are less likely to have preexisting conditions.


Excerpted from www.singleminedwomen.com.

Insurance Expert On Post-manufacturer Vehicle Modifications

By
Karen Olson
on August 20, 2009 9:05 AM | | TrackBacks (0)
Insurance expert Mauro Convertini points out how post-manufacturer vehicle modifications can increase risk and insurance premiums.  He explains, “certain modifications can put motorists at a greater risk of having a collision, such as a lowered or raised suspension, or increasing the size of your engine. Your vehicle could become untrustworthy on the road and impact your safety as well as your access to coverage.”

Even modifications you would expect to better the insurance risk of your vehicle, like an improved brake system, may still increase the cost of insurance for the following reasons:

• The modifications might increase the value of the vehicle and then the insurer has to pay out more in the event of a claim.

• Modified vehicles often are more attractive to thieves increasing the risk of theft.

• Vehicles with performance modifications generally mean that the performance of the vehicle is improved which can lead to more severe accidents.

Remember an insurer could refuse to pay a claim and even leave you uninsured if you have not disclosed modifications to your vehicle. So before you invest time and money on a project that could raise your premium, call your broker or insurance company and verify that your insurance will remain valid.

Excerpted from metronews.ca.

Insurance Expert On Continuing AIG "Unlawful Activities"

By
Karen Olson
on August 4, 2009 11:25 AM | | TrackBacks (0)
The amended complaint filed July 31 in Los Angeles Superior Court by the San Diego law firm of Aguirre, Morris & Severson charges AIG with funneling money from insurance operations to gamble in derivatives. Maria Severson of Aguirre has said that the suit seeks to bar AIG from soliciting new business without revealing its financial status. The New York Times story quotes Mississippi insurance expert and forensic accountant Thomas Gober, who is assisting the San Diego firm in the suit. "The financial [statements] I have reviewed lead me to believe that AIG's equity is enormously negative," Gober says. "But for funding from the government, AIG is insolvent."

Mike Aguirre of the firm points out that the federal government's feeding of money to AIG is essentially "subsidizing wrongdoing." The company took more than $180 billion from the government and continues unlawful activities, "manipulating liabilities and assets in violation of insurance regulations." Also, state regulators, who are supposed to monitor insurance companies, have been neutralized, he says.

Excerpted from SanDiegoWeeklyReader.com.
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This page is a archive of entries in the Insurance category from August 2009.

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