Wednesday, 31 July 2013

car insurance quotes and tips - gsmbizmen

My friend Lynn works for a major U.S. insurance company. I recently asked her for tips to help people save money on auto insurance. I expected maybe a few quick ideas, but she went above-and-beyond with the following detailed list. If you own a car, you should read these tips. For readability’s sake, I haven’t blockquoted this, but it’s all Lynn.
Note that every insurance company is different — not all of these ideas work everywhere. The first thing you can do to save money on auto insurance is to self-insure as much as you can afford. Do this in the following ways:

High deductibles. Everyone preaches this, yes, but it’s usually the easiest way to cut costs. Usually. (If your car is over ten years old, the savings may be minimal.)
Remove towing. Good maintenance and planning can save you money. Don’t run out of gas. Don’t lock your keys in your car. Make sure you have a spare and know how to change it. Sometimes your car will break down, but if your car is well-maintained, it won’t happen often. You pay $10 – $30 a year over the life of your policy and one tow costs $100. Note that in the event of an accident, towing is almost always covered under collision.
Remove car rental. Small economy cars cost about $20 – $25 per day to rent. Car rental is $20 – $40 per year. Play the odds. If you rent a car on vacation, your insurance will cover you while driving that car. Don’t pay for the extra coverage. The only things it offers are:
1. Zero deductibles. You go all year long with your deductibles, why change now? Also, if you pay for the car with a credit card, they may pay for any out of pocket in the even of an accident.
2. Downtime coverage. Downtime means that while the rental car you wrecked is in the shop being repaired, it can’t be rented out to other customers and they can ding you for the daily fee. This may be an issue if they can show that all other cars were rented out and they lost money because of you — Hawaii is notorious for charging this. But, again, it’s a risk you might decide to self insure rather than pay $21 a day for the insurance.

Aside from self-insuring, there are other steps you can take to save on car insurance.

Shop ahead. Before you buy your next car, check on insurance. Many people assume that SUVs are expensive and Neons are cheap. This is not necessarily true. Some companies will increase your liability based on the cost of damages your type of vehicle may inflict — big trucks cause big damage. However, they also rate the autos based on how likely they are to be damaged in an accident, how often they are stolen, and how badly driver/passengers are injured. That Neon (or Jetta or Honda) is going to be a lot more expensive than you think. Many companies will have websites that will give you lists of safe and lower priced cars. (Saturn is a low insurance car because it has dent-resistant doors.)
Think twice about after-market gizmos. If your vehicle is totaled or stolen, the insurance company will determine a fair market or actual cash value. They will look at your vehicle as a “whole package.” Even if you paid for $3,000 in after market items (wheels, spoilers, stereos, exhaust, etc.) they may only add $1,000 in value to your vehicle. It’s not dollar for dollar.
Have all of your insurance in one place. Often, the more types of policies you have, the more you save in discounts.
Find out if your insurance company offers any low-mileage breaks that you qualify for.
Can you take a safety-driving course? Some companies offer a discount for this.
Do NOT pay monthly. Your carrier will charge anywhere from $3 to $5 per month for this type of billing. Pay every six months if possible. If you must pay monthly, do an auto pay — the charges are less because they only send a bill if the amount changes.
This might not be a money saving tip, but insurance companies are state regulated. They must file their rates with the state and be able to justify any increases these are public record as are any types of complaints or fines. For example, if you’re in Oregon, you can check out your company and/or agent at http://insurance.oregon.gov/.
Most companies now use aspects of your credit to determine your rate. It is illegal for them to do this mid-term — as long as your policy is continuous without any lapses, they can’t use external info to change your rate. They can only use claim and ticket info. However, all newly added vehicles can be affected by credit. If you have good credit, this may be to your advantage. You are allowed to request that they re-check your score once per year. However, whatever the score is, you’re stuck with it. If it comes back bad and it raises your rate: too bad. But, if you have a policy that was written when your credit wasn’t so great, request that they check it again after things look better.

These are fantastic tips, full of great ways to save money on auto insurance

car insurance quotes and tips - gsmbizmen

gsmbizmen-My friend Lynn works for a major U.S. insurance company. I recently asked her for tips to help people save money on auto insurance. I expected maybe a few quick ideas, but she went above-and-beyond with the following detailed list. If you own a car, you should read these tips. For readability’s sake, I haven’t blockquoted this, but it’s all Lynn.
Note that every insurance company is different — not all of these ideas work everywhere. The first thing you can do to save money on auto insurance is to self-insure as much as you can afford. Do this in the following ways:

High deductibles. Everyone preaches this, yes, but it’s usually the easiest way to cut costs. Usually. (If your car is over ten years old, the savings may be minimal.)
Remove towing. Good maintenance and planning can save you money. Don’t run out of gas. Don’t lock your keys in your car. Make sure you have a spare and know how to change it. Sometimes your car will break down, but if your car is well-maintained, it won’t happen often. You pay $10 – $30 a year over the life of your policy and one tow costs $100. Note that in the event of an accident, towing is almost always covered under collision.
Remove car rental. Small economy cars cost about $20 – $25 per day to rent. Car rental is $20 – $40 per year. Play the odds. If you rent a car on vacation, your insurance will cover you while driving that car. Don’t pay for the extra coverage. The only things it offers are:
1. Zero deductibles. You go all year long with your deductibles, why change now? Also, if you pay for the car with a credit card, they may pay for any out of pocket in the even of an accident.
2. Downtime coverage. Downtime means that while the rental car you wrecked is in the shop being repaired, it can’t be rented out to other customers and they can ding you for the daily fee. This may be an issue if they can show that all other cars were rented out and they lost money because of you — Hawaii is notorious for charging this. But, again, it’s a risk you might decide to self insure rather than pay $21 a day for the insurance.

Aside from self-insuring, there are other steps you can take to save on car insurance.

Shop ahead. Before you buy your next car, check on insurance. Many people assume that SUVs are expensive and Neons are cheap. This is not necessarily true. Some companies will increase your liability based on the cost of damages your type of vehicle may inflict — big trucks cause big damage. However, they also rate the autos based on how likely they are to be damaged in an accident, how often they are stolen, and how badly driver/passengers are injured. That Neon (or Jetta or Honda) is going to be a lot more expensive than you think. Many companies will have websites that will give you lists of safe and lower priced cars. (Saturn is a low insurance car because it has dent-resistant doors.)
Think twice about after-market gizmos. If your vehicle is totaled or stolen, the insurance company will determine a fair market or actual cash value. They will look at your vehicle as a “whole package.” Even if you paid for $3,000 in after market items (wheels, spoilers, stereos, exhaust, etc.) they may only add $1,000 in value to your vehicle. It’s not dollar for dollar.
Have all of your insurance in one place. Often, the more types of policies you have, the more you save in discounts.
Find out if your insurance company offers any low-mileage breaks that you qualify for.
Can you take a safety-driving course? Some companies offer a discount for this.
Do NOT pay monthly. Your carrier will charge anywhere from $3 to $5 per month for this type of billing. Pay every six months if possible. If you must pay monthly, do an auto pay — the charges are less because they only send a bill if the amount changes.
This might not be a money saving tip, but insurance companies are state regulated. They must file their rates with the state and be able to justify any increases these are public record as are any types of complaints or fines. For example, if you’re in Oregon, you can check out your company and/or agent at http://insurance.oregon.gov/.
Most companies now use aspects of your credit to determine your rate. It is illegal for them to do this mid-term — as long as your policy is continuous without any lapses, they can’t use external info to change your rate. They can only use claim and ticket info. However, all newly added vehicles can be affected by credit. If you have good credit, this may be to your advantage. You are allowed to request that they re-check your score once per year. However, whatever the score is, you’re stuck with it. If it comes back bad and it raises your rate: too bad. But, if you have a policy that was written when your credit wasn’t so great, request that they check it again after things look better.

These are fantastic tips, full of great ways to save money on auto insurance

car insurance companies -gsmbizmen

Six Tricks to Help Lower Your Car Insurance Rate

There's more to getting a good rate than just staying accident-free...

By Terence Loose

When it comes to auto insurance, we all want to get the right coverage for the lowest premium. Unfortunately, shopping for auto insurance can be easier said than done.
But don't give up on finding the best rate just yet. There are a variety of factors that could potentially save you money.
"The price you pay for your auto insurance can vary by hundreds of dollars, depending on what type of car you have and the insurance company you buy your policy from," says Loretta Worters, vice president of the Insurance Information Institute (III).
Keep reading to learn more about other tricks to help lower your rate.

Tip #1 - Shop Companies

There's a reason why Black Friday and Cyber Monday are such popular days for consumers: We all like to shop for a good deal. And while shopping for auto insurance is not as exciting as finding the right big-screen TV, it could result in a lot more savings.
But Worters advises: "Don't shop by price alone. Ask friends and relatives for their recommendations. Contact your state insurance department to find out whether they provide information on consumer complaints by company."

Tip #2 - Ask for Discounts

Instead of waiting to be offered discounts, ask about them. The fact is, your insurance carrier may not know that you just got married or you finally took that driver's education class - both of which could dig up some savings for you.
What else could help you save? Here's a partial list of possible discounts:*

Low-Mileage Discount: applies when you drive less than 10,000 miles per year, according to III
Good Student Discount: generally requires a B average for a full-time student
Anti-Lock Brakes, Anti-Theft Device, or Air Bag Discount: usually must be factory installed
Driver Education Course Discount: applies when you complete a defensive driving course
Bundled Insurance Discount: applies when you have auto, home, or renter's insurance with the same company

Tip #3 - Check Your Credit

A good credit score isn't just ideal for buying a car or a house - in many states, it could also lower your auto insurance rate.
"Most insurers use credit information to price auto insurance policies. Research shows that people who effectively manage their credit have fewer claims," says Worters. "So establishing a solid credit history can cut your insurance costs."
And while some states like California, Hawaii, and Massachusetts do not allow insurance companies to use credit-based insurance scores, most states do.
What does this mean for you? Worters suggests paying your bills on time, only obtaining credit you need, and keeping your credit balances low as ways to improve your credit score.
Here are a few other tips and tricks to consider:

Get at least three quotes and compare rates, either over the phone or online.
Give the same information to all companies. This ensures a more accurate comparison.
Use rating companies such as A.M. Best Company and Standard & Poor's to check out a company's financial health.

Tip #4 - Consider Raising Your Deductible

If you file a claim, a deductible refers to the amount you pay before your insurance policy covers it. If you have a higher deductible, your insurance premium could be lower. And the potential for savings might surprise you.
"Increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15 to 30 percent. Going to a $1,000 deductible can save you 40 percent or more," says Worters.
But remember, before increasing your deductible payment, make sure that you have enough cash set aside to pay it in case you do have to file a claim.

Tip #5 - Don't Over-Insure

If you lived in a 100-year-old shack, you probably wouldn't pay a lot for home insurance, right? Same goes for an aging car, yet many people neglect to drop coverage that they'll likely never use.
Specifically, Worters advises dropping collision and/or comprehensive coverage - which protects your car in the event that it's damaged - if you drive an older car.
"If your car is worth less than 10 times the premium, purchasing the coverage may not be cost-effective," she says.
But make sure to check the worth of your car before making this decision, says Worters. You could find out your car's worth through banks, auto dealers, or online with Kelley Blue Book.

Tip #6 - Lose Your Kid

No, no, we don't mean lose little Bobby or Sally at the mall or Disneyland. We're talking about removing them from your auto insurance policy if they've grown up, gone away to college, and only visit home occasionally - i.e., they only drive your car on weekends or during holiday vacations.
How can this help your auto insurance rate?
According to the National Association of Insurance Commissioners' (NAIC) website, if your child lives away at school - at least 100 miles - and has less access to the insured vehicle, you may be able to take advantage of insurance discounts.

debt consolidation -gsmbizmen

Avoiding Debt Consolidation Scams

Who doesn't want to believe that their debts will disappear after they complete three easy steps? People who are concerned and confused about their debt situation pose exceptionally tempting prey to scammers. Many cons are as simple as companies asking for payment up front and not delivering on the loan. By the way, U.S. and Canadian companies legally cannot call you and promise you a loan then ask for an advance fee before the transaction is completed [source: Federal Trade Commission (FTC)].
Another trick is to claim non-profit status. The FTC has exposed several so-called non-profits, such as the National Consumer Council and Debt Management Foundation Services, which were funneling funds to a for-profit company. Given their deceptive names, it's not surprising that unsuspecting people were willing to trust them.
The victims of these scams fell deeper in debt and suffered a rise in interest rates, as well as other penalties and damage to their credit. Some people even went bankrupt after being misled by these fraudulent companies. In addition, by hiding behind supposed non-profit status, these organizations called numbers on the National Do Not Call Registry to advertise their services. The FTC charged them with not only lying about what their services would do, but also failing to disclose the penalties and fees that would result.
Now that you're looking over your shoulder, why don't you take the following precautionary steps recommended by the FTC before taking out a loan with a finance company:

Beware of companies that pressure you into a plan or make any guarantees without looking into your specific needs.
Research the company and the services it offers. It is better if it offers a wide range of options and education on how to handle debt. (It also can't hurt to look up companies on the Better Business Bureau.)
Contact your creditors and ask them if they will work with the company.
Read the fine print: Make sure to review the agreement closely, ensuring that it outlines the finance company's plans and its timeframe.
Before you start paying the finance company, ensure that your creditors have accepted the company's proposed plan. Until they do, be sure to continue paying your bills as usual.
After you begin the program, keep a close watch on your statements and call the creditors to ensure they receive payments.

Although they aren't exactly scamming you, many finance companies simply don't warn you about the excessive fees they charge. These fees can add up so that you pile on even more debt. In a related article on debt settlement, SmartMoney writer Aleksandra Todorova named a few fees to watch out for:

A portion of the total debt (which could be up to 18%)
A portion of the amount you save (which can be around 25%)
Sign-up fees
Monthly fees (both service charges and flat fees)

The FTC also cautions against companies that pressure you to pay "voluntary fees." One company that the FTC exposed, called AmeriDebt Inc. collected about $200 million in hidden costs like these [source: Federal Trade Commission].
Just as diet pills are usually too good to be true, so are most debt consolidation offers. Remember, no new loan is going to free you instantly from your debts. But like losing weight, you can climb out of debt with good old-fashioned discipline.

reverse morgages-details -gsmbizmen

The Home Equity Conversion Mortgage (HECM) is FHA's reverse mortgage program, which enables you to withdraw some of the equity in your home. The HECM is a safe plan that can give older Americans greater financial security. Many seniors use it to supplement Social Security, meet unexpected medical expenses, make home improvements and more. You can receive additional free information about reverse mortgages in general by contacting the National Council on Aging at (800) 510-0301 or downloading their free booklet, "Use Your Home to Stay at Home," a guide for older homeowners who need help now. It is smart to know more about reverse mortgages, and decide if one is right for you!
1. What is a reverse mortgage?
A reverse mortgage is a special type of home loan that lets you convert a portion of the equity in your home into cash. The equity that you built up over years of making mortgage payments can be paid to you. However, unlike a traditional home equity loan or second mortgage, HECM borrowers do not have to repay the HECM loan until the borrowers no longer use the home as their principal residence or fail to meet the obligations of the mortgage. You can also use a HECM to purchase a primary residence if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing.
2. Can I qualify for FHA's HECM reverse mortgage?
To be eligible for a FHA HECM, the FHA requires that you be a homeowner 62 years of age or older, own your home outright, or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan, and you must live in the home. You are also required to receive consumer information free or at very low cost from a HECM counselor prior to obtaining the loan. You can find a HECM counselor online or by phoning (800) 569-4287.
3. Can I apply for a HECM even if I did not buy my present house with FHA mortgage insurance?
Yes. You may apply for a HECM regardless of whether or not you purchased your home with an FHA-insured mortgage.
4. What types of homes are eligible?
To be eligible for the FHA HECM, your home must be a single family home or a 2-4 unit home with one unit occupied by the borrower. HUD-approved condominiums and manufactured homes that meet FHA requirements are also eligible.
5. What are the differences between a reverse mortgage and a home equity loan?
With a second mortgage, or a home equity line of credit, borrowers must have adequate income to qualify for the loan, and they make monthly payments on the principal and interest. A reverse mortgage is different, because it pays you – there are no monthly principal and interest payments. With a reverse mortgage, you are required to pay real estate taxes, utilities, and hazard and flood insurance premiums.
6. Will we have an estate that we can leave to heirs?
When the home is sold or no longer used as a primary residence, the cash, interest, and other HECM finance charges must be repaid. All proceeds beyond the amount owed belong to your spouse or estate. This means any remaining equity can be transferred to heirs. No debt is passed along to the estate or heirs.
7. How much money can I get from my home?
The amount you may borrower will depend on:

Age of the youngest borrower
Current interest rate
Lesser of appraised value or the HECM FHA mortgage limit of $625,500 or the sales price; and
Initial Mortgage Insurance Premium--your choices are HECM Standard or HECM SAVER

In addition, the more valuable your home is, the older you are, and the lower the interest rate, the more you can borrow. If there is more than one borrower, the age of the youngest borrower is used to determine the amount you can borrow. For an estimate of HECM cash benefits, select the online calculator from the HECM Home Page. Many online reverse mortgage calculators can provide you with an estimate of the amount of funds you can borrow.
8. Should I use an estate planning service to find a reverse mortgage lender?
FHA does NOT recommend using any service that charges a fee for referring a borrower to an FHA-approved lender. You can locate a FHA-approved lender by searching online at www.hud.gov or by contacting a HECM counselor for a listing. Services rendered by HECM counselors are free or at a low cost. To locate a HECM counselor Search online or call (800) 569-4287 toll-free, for the name and location of a HUD-approved housing counseling agency near you
9. How do I receive my payments?
You can select from five payment plans:

Tenure- equal monthly payments as long as at least one borrower lives and continues to occupy the property as a principal residence.
Term- equal monthly payments for a fixed period of months selected.
Line of Credit- unscheduled payments or in installments, at times and in an amount of your choosing until the line of credit is exhausted.
Modified Tenure- combination of line of credit and scheduled monthly payments for as long as you remain in the home.
Modified Term- combination of line of credit plus monthly payments for a fixed period of months selected by the borrower.

10. What if I change my mind and no longer want the loan after I go to closing? How do I do this?

By law, you have three calendar days to change your mind and cancel the loan. This is called a three day right of rescission. The process of canceling the loan should be explained at loan closing. Be sure to ask the lender for instructions on this process. Mortgage lenders differ in the process of canceling a loan. You should ask for the names of the appropriate people, phone numbers, fax numbers, addresses, or written instructions on whatever process the company has in place. In most cases, the right of rescission will not be applicable to HECM for purchase transactions.

electronic medical records-the bad side -gsmbizmen

Electronic medical records seem to be the current trend in health care, and you’ll find many physicians, allied health professionals, pharmacists and hospitals using some form of electronic recording of patient data. Despite the many advantages of a more uniform approach to documenting medical care and coordinating care when patients see several specialists, there are some disadvantages to electronic medical records. As patients more regularly experience doctor’s visits with electronic health records (EHRs) they may notice some of the disadvantages immediately. Other problems occur “behind the scenes,” outside of a patient’s surveillance.
One of the chief disadvantages to electronic medical records is that start up costs are enormous. Not only must you buy equipment to record and store patient charts (much more expensive than paper and file cabinets), but efforts must be taken to convert all charts to electronic form. Patients may be in the transitional state, where old records haven’t yet been converted and doctors don’t always know this. Further, training on electronic medical records software adds additional expense in paying people to take training, and in paying trainers to teach practitioners.
Despite training, most people creating medical records are now nurses, and often doctors. Unfamiliarity with technology, especially when an EHR program is implemented can significantly detract from patient time as the doctor or nurse struggles with unfamiliar equipment. Many patients report visits with doctors where the doctor has to divert focus to figuring out how to enter things electronically and thus has less time for the patient. Medical care in already crowded offices may be delayed when technology is not reliable. A frozen computer could steal minutes or more from patient care for that day. It’s also still easy to miss recording relevant details, or to type in incorrect information.
Along with reduction in doctor/patient time, some people find that electronic medical records and their accompanying systems have depersonalized doctor visits or needed calls to a doctor’s office. Protocol of a system may require, for instance, any patient questions to be emailed to a doctor, even if a receptionist takes them and even if the doctor passes that receptionist multiple times a day. This can increase wait time for callbacks, or for doctor emails, especially if emails are not checked regularly.
Additionally there is not one electronic medical records system. There are many. Streamlining patient care can only be achieved when a single system is used, since two or more systems may not work together. If the hospital uses a different EHR system than your primary care physician, health records may not be available to the hospital, or vice versa from hospital to the physician. Electronic medical records may reduce office paperwork, but they may not coordinate care between several treating physicians, pharmacies, and allied health workers as they promise to do when different systems are used by each group.
Lastly, some are concerned about the security of their medical records, which should be completely confidential. Hackers may ultimately be able to penetrate EHRs despite security precautions, and they may then release confidential information to others. This has some patients worried about how safe and confidential their electronic medical records really are.

electronic medical records-the good side -gsmbizmen

Just like any other record keeping, moving patients' records from paper and physical filing systems to computers and their super storage capabilities creates great efficiencies for patients and their providers, as well as health payment systems.
But efficiency isn't the only benefit. For individual patients, access to good care becomes easier and safer when records can easily be shared. Important information -- such as blood type, prescribed drugs, medical conditions and other aspects of our medical history -- can be accounted for much more quickly. At the very least, an existing electronic medical record (EMR) can save time at the doctor's office. At most, quick access to our records can be lifesaving if an emergency occurs and answers to those questions are needed during the emergency decision-making process.
Even the federal government thinks electronic record keeping is important, and it has put its money and efforts where its recommendations are. Veterans' hospitals across the country share an electronic system, called VistA, which allows for sharing of records for veterans in its health system. Should a patient find himself in a VA hospital, even while away from home, the hospital will have the same access to his or her records that the hometown hospital does.
Further, the government set up an incentive system to encourage providers to implement electronic health records and adhere to a list of criteria to improve care and patient access. Those criteria are called Meaningful Use.
Tragic events like 9/11, Hurricane Katrina, and the California fires have showcased the benefits of electronic record keeping. Those injured or made sick by any of those events were more easily treated and may have found better outcomes than those for whom no medical records were available. Large scale EMR systems replicate their stored records in several places across the country so that one tragic event won't destroy them.
Another benefit is safety. In the past, the way a doctor obtained your health history was by asking you. Each time you visited a new doctor's office, you filled out forms about your history, including previous surgeries, or the drugs you take on a regular basis. If you forgot a piece of information, or if you didn't write it down because it seemed unimportant to you, then your doctor didn't have that piece of your medical puzzle to work with.
However, when doctors share records electronically, your new doctor only needs to ask your name, birthdate, and possibly another piece of identifying information. She can then pull up your records from their electronic storage space. All of the information he needs to see will be there in full. When it comes time to diagnose you, it might be important to him to learn that you are taking a certain kind of medication, or even an herbal supplement -- any information shared with a previous doctor. Diagnosis and treatment decisions might be altered based on that information, which is far more complete than what you might have written down on paper.
In the past, when a doctor closed his practice, retired, moved, or even died, patient records could easily get lost or relocated, making it impossible for patients to get the records they needed to take to a new doctor. Keeping these records electronically, especially in the cases where patients can also gain access to them, means the patient won't be left without the records she may need.
Money is saved by using electronic medical records; not just the cost of paper and file folders, but the cost of labor and space, too. In any business, time equals money. The efficiencies created by simply typing a few identifying keystrokes to retrieve a patient's record -- as opposed to staring at thousands of file folders, filing and refiling them -- saves a doctor's practice or a hospital many thousands of dollars. That's even taking the cost of the electronic system into account.
Efficiencies put into play by doctors and insurance companies to save money eventually lead to patients saving money, too.
An empowered patient knows to weigh these benefits against the limitations of electronic medical records and personal health records which include the numbers of mistakes that may be made, the lack of standards, and the issues of privacy and security.