Hot temperatures on the East Coast may prompt some to consider finally getting a swimming pool, but doing so may have home insurance implications.

According to the Insurance Information Institute, consumers who install a pool should contact their policy provider because having one could increase their liability.

“In addition to learning how to keep your pool or spa safe, it is also important to make sure that it is properly insured and that it complies with local safety standards,” said Jeanne Salvatore, senior vice president with the III.

While a common home insurance policy offers $100,000 of liability protection, the III said people with pools should consider a minimum of $300,000.

Along with that portion of the coverage, consumers should make sure their pool is protected against damage, especially because these additions to a home can be rather expensive.

In fact, any addition to a house could warrant a review of a home insurance policy to ensure that a property is completely covered. Read all post…

Expatriate Healthcare has introduced Premium Rewards, a reward scheme for existing and new international customers that offers discounts on premiums of up to 20%.

Policyholders who remain claim free in the first year can earn a discount of up to 10%, rising to 15% after two years of no claims and to 20% after three years.

New customers can claim the discounts if they can prove that they have not made a claim with their current insurer.

The UK-based private medical insurer has also lowered premium costs by introducing a new excess level of €5,000 for those who require cover for the most expensive medical events only. <

Read all post…

For those who lose their jobs after June 1, they will no longer qualify for the COBRA health insurance federal subsidy, a new study shows that U.S. life insurance activity was flat in the month of May and Toyota vehicles have been chosen for “Top Safety Pick” by the Insurance Institute for Highway Safety.

COBRA Subsidy Comes to an End

The government has been offering workers who lost their jobs as a result of the recession a COBRA subsidy of 65 percent to help pay for the costs of this extended health insurance benefit from employers. However, after returning from their Memorial Day recession, House Democrats decided not to extend the subsidy to help bring down the cost of the jobs and tax bill that is making it’s way through Congress. Dropp

Read all post…

Yet another state has enacted laws against habits that could lead to higher auto insurance rates.

With the stroke of Governor Jack Markell’s pen, Delaware became the 30th state in the country that has added restrictions against texting while driving. Texting while behind the wheel is also a primary offense, meaning law enforcement officers can pull someone over for it.

“Electronic devices are potentially lethal in the hands of any driver,” U.S. Transportation Secretary Ray LaHood said. “Thanks to Governor Markell, everyone who rides on Delaware’s roads will be safer due to enactment of this strong measure.”

According to the Department of Transportation, more than 200 pieces of legislation are being considered that involve distracted driving. Fur Read all post…

Similar to Facebook in functionality, LinkedIn is a social media site specifically geared toward business professionals. It’s a little different from Facebook and Twitter, however, in terms of audience. Where those sites are focused toward general audiences, and for your purposes, customers, LinkedIn is a place where you’ll be networking with colleagues within the insurance industry and other businesses in your community.
Tips:

•Like Facebook and Twitter, it is important for you to reserve your agency’s name and find out how your competitors use the site.

•Look for current customers who may be using LinkedIn and connect with them.

•Make good use of the “recommendation” feature – recommend businesspeople you like and maybe they’ll return the favor. Also, you could ask

Read all post…

Term 10 and Term 20 life insurance are a classification of life insurance product often touted as good starter plan for those buying life insurance for the first time. Ever wonder what the differences between the two plans really are?

• Term 10 Life insurance policies offer level rates for 10 years, but Term 20 policies offer level rates for 20 years.

• Term 10 policies are generally used to fund short-term insurance needs, while term 20 policies can be more attractive for funding longer temporary insurance needs.

Clients often ask which is the best way to go. The answer depends on how long you need the insurance for.

Read all post…

Many people travel outside their own country for vacations.  When traveling to a foreign country, even if it is for two weeks, you should get travel insurance to cover any unexpected medical costs you may incur while away.  However, if you travel for business outside your home country on a frequent basis, you should have worldwide health insurance.  This is insurance that will cover you almost anywhere you travel.  If you work for a company that requires that you travel to a division you have in China several times a year, you need to have worldwide health insurance.  If you travel to two or three different countries throughout the year, you need to have this coverage.

Some people make the mistake of assuming that when they are traveling for business, that their major medical plan from their employer will cover all the medical needs.  This is not the case. Major

Read all post…

A new report has found that health insurance costs have recently skyrocketed for individual buyers while auto insurance costs have also increased significantly. Also, Moody’s reports that the outlook for life insurance looks stable for the rest of 2010.

Health Insurance Prices Skyrocket

Health insurance costs have recently increased by an average of 20 percent for individual buyers, says a report released on Monday by the nonprofit group, Kaiser Family Foundation. Currently, the average annual deductible alone for an individual plan customer is $2,438 – four times the average deductible of a person under an employer plan.

According to the report, about 14 million Americans under the age of 65 buy their own individual health plans instead of purchasing them through employers. Of

Read all post…