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Tornado season occurs between March and August, and while a tornado may strike during any time of the year, their frequency occurs less during the other months. However, home insurance during all times of the year covers these problems. What will homeowner's insurance cover? Coverage A will cover the house which includes:
Most homeowner's insurance policies will replace the structure and provide sufficient insurance to cover approximately 80 percent of the replacement. However, always insure to value because a failure to do so will result in a co-insurance penalty, which results in the company paying a percentage of the claim. Coverage B will cover the other structures for the insured location which include detached garages and sheds. Coverage C helps to cover personal property including theft, fire, lightning and water. Buying home insurance, people should keep their policy number and agent's phone number in a safe place. When afflicted with catastrophe, people will want to contact their insurance provider immediately. Homeowners can prepare for tornado season by listing their valuables, electronics and furniture. To do this, they can photograph or videotape their possessions and place the documentation in a safe place outside the home. When homes are damaged in a natural disaster, the burden of proof falls on the homeowner for what they lost. In addition, homeowners should understand the difference between actual cash value, also referred to as ACV, and replacement cost coverage for contents. With an ACV policy, the policy replaces the contents at the cost subtracting the depreciation. Severe Weather Awareness Week in Georgia occurs between February 2nd to February 6th. Homeowner's insurance protects people from other weather hazards including floods and fires. Call Pachuta Insurance Today @ 706-769-2262 Sources: NBC TV 26 Cordele Dispatch
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Ralph Hudgens, Georgia Insurance Commissioner, has issued a warning to the people of Georgia to be wary of a current life insurance scam. The con artists call the consumer and tell them about how their relative had a life insurance policy that will expire, but it can be renewed for a fee. Hudgens says that he has received complaints from angry consumers who lost thousands of dollars because of individuals claiming to be insurance representatives.
Hudgens continued in saying that these criminals tell the consumer that their deceased loved one had a policy that lapsed. However, if they pay immediately, they can become the beneficiary. Scammers will tell the victim to make the payment using money cards that are pre-paid to reinstate the policy. However, once the consumer purchases the cards, the fraudster calls back to ask for the victim's 14-digit serial number, which lets them steal the funds and put them into their own account, without needing the actual card. In addition to this scam taking place in Georgia, Hudgens's spokesman Glenn Allen reports that a similar scheme has occurred in Washington, Arizona, Virginia and Tennessee. The scam has been said to have originated in Alabama. The insurance industry has fought an ongoing battle against fraud, and they have encouraged customers to exercise caution when dealing with people claiming to be insurance representatives via the phone. In addition, the Internet has become a powerful method of fighting fraud. Those concerned about a company can check to find out if a company has legitimacy or not. Hudgens has recommended that people with phone calls concerning life insurance policies should hang up and contact the Consumer Services Division at 1-800-656-2298. At the least, verify the authenticity of the company before believing them, and especially be cautious when fees have to be paid or serial numbers have to be given. According to Georgia's Department of Fraud Division, many of these calls in Georgia have turned out to be fraudulent. Call Pachuta Insurance Today @ 706-769-2262 Sources: Live Insurance News WBRC Fox 6 While it happened in the United Kingdom, it could also happen in Georgia and other states if someone has modifications as part of their auto insurance policy. Age UK Insurance told Reverend Wena Parry, 75, that her stickers Christ Must Be Saviour were considered modifications that will invalidate her insurance policy. It sounds petty, right? However, Age UK denied that their reasons were religious motivated, even though Revered Parry suspects someone inside the organization secretly hates Christianity.
Reverend Parry told BBC Wales that she believes she had been treated unfairly because of her religious beliefs. She says the large signs on the side of her car help to spread the message of the gospel, but she was denied that right when her car insurance provider said her bumper stickers were a modification. Age UK, the company involved, first complained about the stickers when Parry tried to file a claim, due to thieves damaging her exhaust pipe and stealing a part of her engine. Photographs were submitted as part of the claim. After submission of the claim, the company asked why they had not been notified of the bumper stickers. They warned her that her policy could be declared void. After causing global outrage, the company spokesman tried to backpedal saying that their company had concluded that the request to declare all modifications void was not made clear enough to Parry, and they would not hold her responsible for breaking it. According to the Independent, Age UK offered Parry a €725 settlement and waived the additional €100 fee. A devout Christian, Parry paid £120 to place the religious stickers on her Vauxhall Zafira. Parry has said that she will seek car insurance elsewhere; however, she will make sure that Christian bumper stickers will not void her auto insurance policy. This story serves as a warning to customers worldwide who are considering a car insurance policy with modifications as one of the clauses. Call Pachuta Insurance Today @ 706-769-2262 Sources: BBC Christian Times According to the Consumer Federation of America(CFA), a national consumer's rights advocates group, low to moderate income drivers are being priced out of the auto insurance market. The organization released the results of their latest survey and found that high auto insurance premiums present an insurmountable obstacle to car ownership for Americans with a lower income. Approximately one-fourth to one-third of low to moderate income drivers do not have auto insurance.
The CFA says risk factors do not always relate to driving, and believes the risk factors should have more relevance. This practice is known as price optimization. Insurance companies measure risk using unrelated factors that include:
J. Robert Hunter, CFA's Director of Insurance and a former Insurance Commissioner for Texas has said that state governments, which require drivers to purchase auto insurance, have a responsibility to ensure that car insurance stays affordable to lower income Americans. In addition, Hunter said that state should ban insurance providers from raising the rates of consumers who do not shop for better deals. The federation said that setting rates based on a customer's willingness to seek lower premiums is questionable activity. Allstate Accused of Overpricing? CFA has accused the insurance giant Allstate of illegally raising rates for customers who do not to shop around in several states. In addition, Allstate uses price optimization, such as how long a policyholder spent with their previous insurance provider, which leads to unfair increases in premiums. The CFA is asking all state commissioners to hold a public hearing on banning price optimization practices. Hunter says the Consumer Federation of America believes that more than half the nation's largest insurance providers use price optimization to raise the rates on policyholders who do not shop around for insurance. Call Pachuta Insurance Today @ 706-769-2262 Sources: Insurance News Net Bloomberg |
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PACHUTA INSURANCE
1031 Village Drive, Suite A
Watkinsville, Georgia 30677
johnny@pachutainsurance.com
(706) 769-2262 (Office)
(888) 769-2262 (Toll Free)
(706) 769-2282 (Fax)
(706) 201-1901 (Mobile)
1031 Village Drive, Suite A
Watkinsville, Georgia 30677
johnny@pachutainsurance.com
(706) 769-2262 (Office)
(888) 769-2262 (Toll Free)
(706) 769-2282 (Fax)
(706) 201-1901 (Mobile)