GEICO Now magazine & geiconow.com, The BEST insurance

What are you doing for fun this summer?! Whether it be ways of cutting costs without clipping your lifestyle, prepping your boat before cruising the waters, or finding the perfect family vacationthat leaves the world a better place, read about it first in the most recent edition of GEICO Now magazine.

Looking for your next good meal? Expand your palate on GEICO Now magazine’s complimentary websitegeiconow.com, and check out our list of fabulous food trucks that may be in a city where you live. You can also find our list of the best apps for your smartphone in case of an emergency or natural disaster..

Finding The Car Insurance Online That You Actually Need

Buying car insurance online is an excellent option for anyone who wants to find an affordable policy offering maximum benefits. Increasingly, more people are using independent websites and quote comparison tools to find a good car insurance plan. There are hundreds of companies providing this type of coverage and each of them features special deals. All you need to do is to shop around, compare free quotes from multiple insurers and apply for the best policy out there.

If you decide to go shopping for car insurance online, you should know that there are many free resources and quote comparison tools that you can use to your advantage. Most insurance companies have websites that provide information about their current offers. Customers can also use quote comparison websites to search for good car insurance. Finding the best policy is up to you. Take your time and look for a plan that offers as much coverage as you need.

There are many advantages of using the Internet to get car insurance online. Not only you will save time and money, but you can also choose from a large number of offers. More than that, you can compare dozens of free quotes from leading insurance companies. Getting car insurance online has been proven to be safe, fast and convenient. You can easily find a good car insurance plan by visiting at least three quote comparison websites. After you fill in a short application form, you will receive multiple quotes from top rated providers. However, there are some important factors that you should take into consideration before buying car insurance online.

When searching for a good car insurance policy, you need to consider the amount of coverage provided. You might find two or more companies that offer the same coverage at prices that may differ greatly. Therefore, you should first evaluate your needs and determine how much coverage you want to buy. Try to find out more about the discounts you are eligible for in advance. Some insurance providers offer discounts to those who have driving experience or maintain a good driving record. Installing anti theft alarms and safety features to your car can also help you save hundreds of dollars on vehicle insurance. If you keep your car in a garage, then you will pay much less when insuring the vehicle.

Show that you're a responsible driver in order to obtain a good car insurance policy that suits all of your needs. Research the company you're interested in and make sure it has a good reputation on the market. If you have any questions related to the policy that you wish to buy, contact a representative and ask for relevant information.

Tips for Insurance Settlements

The primary reason a person carries insurance is to protect themselves from financial loss in case of an accident. Many unforeseen accidents can occur, which could be catastrophic in nature. Your best situation in case this occurs would be to educate yourself about how Insurance Settlements work. Insurance Settlements are structured to account for your loss of wages, future loss of wages while taking in consideration for you future medical needs in relation to the accident.

Remember that the negotiation of insurance settlements should also be done with reputable legal council specializing in settlements.

Motor Vehicle Insurance (Financial Responsibility)

Missouri law requires that all motor vehicle drivers and owners maintain some type of motor vehicle liability insurance coverage. Unfortunately, each year thousands of Missouri citizens are involved in automobile accidents with drivers who have not maintained the required automobile insurance. This results in unpaid damage claims and higher insurance premium rates for all Missourians.

Missouri motor vehicle owners are required to show proof of insurance when registering a vehicle and renewing their license plates. Liability insurance covers your legal liability when injuries or property damage happen as a result of your actions. The minimum level of coverage required by state law is:

• $25,000 per person for bodily injury
• $50,000 per accident for bodily injury
• $10,000 per accident for property

The law also requires you to have uninsured motorist coverage of $25,000 for bodily injury per person and $50,000 for bodily injury per accident.

Nonresidents must maintain insurance that conforms to the requirements of the laws of their state.

You must keep some proof of insurance in your vehicle at all times. If a law enforcement officer asks for proof of insurance and you cannot show it, the officer may issue you a ticket.

The Department of Revenue will be notified that you do NOT have insurance on your vehicle or the vehicle you drive if you are in an accident or a police officer asks you to show proof of insurance. At any time, the Department of Revenue may also ask you to prove you have insurance.

Is it insurance fraud?

The word fraud is used to describe deceit, trickery, or breach of confidence perpetrated for profit or to gain an unfair advantage.  Add the word insurance in front of it and we are now describing a crime – a crime through which a total of 80 billion dollars per year is stolen!  Insurance fraud is committed every day…and, surprisingly, hardened criminals and crime rings aren’t the only culprits.  Often times, insurance fraud is committed by a neighbor, friend, or relative – the same people who would never dream of robbing a store or stealing money from someone else’s purse.  And it is not a victimless crime…insurance fraud is both costly to the consumer in the form higher premiums and, when manifested as staged auto accidents and/or arson, insurance fraud can be resultant in injury or even death.

Consider the following scenarios:

While you are on vacation, your home is broken into. In order to recoup your insurance deductible you consider exaggerating what was stolen to your insurance company. You’ve paid insurance premiums for years and never put in a claim.  It’s tempting…

While applying for car insurance, you consider telling your agent you live in a different location in order get a cheaper rate.  Honestly, it’s only a few miles difference.  It’s tempting…

Your dishwasher springs a leak and damages a section of your kitchen floor.  You consider asking the repairman to pad your estimate in order to cover the deductable.  It’s tempting…

While the above situations may be tempting, they are not innocent temptations.  These situations constitute insurance fraud – a felony punishable in the state of Pennsylvania by up to $15,000 in fines and 7 years in prison!  Let’s look a little closer at the 4 types of insurance fraud:

Automotive Insurance Fraud

• Average annual cost to insurers – $58 billion (an expense responsible for increasing consumer cost $200 annually)
• Examples:  staged accidents and thefts, filing claims for pre-existing damage and false injuries, and failure to disclose an uninsured individual was driving at the time of an accident.

Health Insurance Fraud

• Average annual cost to insurers – $30 billion
• May be committed by either individual subscribers or health care providers.
• Examples:   Individual subscribers may allow someone else to use his/her identity and insurance information to obtain services or use their benefits to pay for prescriptions not personally prescribed.  Health care providers may bill for services not rendered the patient, bill each step of an inclusive procedure as a separate procedure, misrepresent patient diagnoses to justify expensive procedures/tests, misrepresent non-covered treatments/procedures as medical necessity, or perform unnecessary procedures/tests for financial gain.

Homeowners’ Insurance Fraud

• Average annual cost to insurers – $30 billion
• Examples:  staged burglaries, fabricating supporting evidence for a claim, intentionally inflicting damage to the property for the sole purpose of filing a claim, exaggerating the extent of damage to cover deductibles, overstating the value of damaged/stolen property, and lying about the extent, cause, date or location of damages.
• Note:  many policies carry a lifetime maximum – when health care providers defraud insurance companies, those expenses also impact individual subscriber benefits.

Workers’ Compensation Insurance Fraud

• Average annual cost to insurers – $5 billion
• May be committed by either employees or employer.
• Examples:  An employee may fake an injury in the workplace, exaggerate the extent of a legitimate injury incurred at work, claim an injury incurred elsewhere occurred at work, or continue to collect benefits while concealing income from a new job.  Employers may fail to carry workers’ compensation insurance, claim employees as independent contractors, lie about the nature of employees’ work to qualify/pay for lower premiums, or underestimate company payroll to reduce premium payments.

To reiterate, each type of insurance fraud described above is punishable by up to $15,000 in fines and 7 years in prison!  Consider visiting the PA Insurance Fraud Prevention Authority (IFPA) website to read actual case examples and learn prevention strategies:http://www.helpstopfraud.org/TypesofInsuranceFraud/AutomotiveInsuranceFraud/tabid/66/Default.aspx

There are two keys to ensuring you don’t commit insurance fraud – knowledge and honesty.  Understand what your current policies do and do not cover.  Answer all questions about a claim or on applications honestly.  Temptations are everywhere…only give in to innocent ones, like the chocolate 

How to stop wasting money on car insurance

Check out this list of common mistakes to see if you've been overspending on car insurance. - Amanda Heare. Do you think you're spending too much money on auto insurance?  Susan Voss, president of the National Association of Insurance Commissioners (NAIC), says the best thing you can do for your wallet is to re-examine the details of your auto coverage once every few years.

"Because factors like the age and condition of your car, as well as your driving record, can change, you may find that you're overpaying now for a policy that was reasonable two years ago," says Voss.

1. Comparison Shop

Whether you're a first-time buyer or you just need to renew your auto insurance, if you're looking to save, you should really shop around.

According to the Insurance Information Institute's (III) article "How Can I Save Money on Auto Insurance?," shopping around allows you to compare different prices as well as the quality of a company's customer service.

By focusing on both price and service, you can get a clearer picture of what each company has to offer, notes the III.

Ways to Save: Voss recommends getting price quotes from multiple companies and re-evaluating your policy every few years to make sure you're still getting the best deal. "E-tools, like comparison websites, are an excellent resource for when you're shopping around because all the information is at your fingertips," says Voss.

2. Consider Bundling Your Insurance Policies
By keeping different policies - like life, homeowners, and car insurance - with different agencies, you could be missing out on an easier, less expensive opportunity.

The III article points out that many insurance companies encourage customers to bundle their policies - getting homeowners, life, and auto insurance from the same provider - by offering discounts.

Ways to Save: While researching companies and rates, ask about their bundled policies and prices. Once you receive the rates on these bundled policies, you can make a more informed decision about whether bundling is the most cost-effective approach for you.

3. Increase Your Deductible
Choosing a lower deductible, the amount you pay out-of-pocket before your insurance policy kicks in, may seem like a good way to cut corners and save money. But the truth is, it could end up costing you more in terms of your overall rates.

For example, increasing your deductible to $500 could ultimately reduce your collision coverage by 15 to 30 percent, according to the III article. When you are willing to shoulder more of the expense for accident damage to your vehicle, you could lower your costs substantially.

Ways to Save: When choosing a deductible, Voss says to first ask yourself this question: "How much can I afford?" If you think you have enough money to cover, say, $500 worth of repair costs, then setting a higher deductible could be a good way to drive down your overall insurance rates.

4. Ask About Discounts
Forgetting to ask about possible discounts? You could be missing out on substantial savings.

The III article suggests asking your auto insurer about some of the following discounts:*

• Antitheft Devices
• College Students away from Home
• Defensive Driving Courses
• Drivers Ed Courses
• Good Credit Record
• Low Annual Mileage
• Long-Time Customer

Ways to Save: "It always pays to ask questions," says Voss, who suggests asking your auto insurer about any and all discounts you think you might qualify for.

5.  Don't Over-Insure Older Cars
Is your car basically held together by duct tape and prayers? Then don't insure it like it just rolled off the assembly line.

For example, if you're driving a car that's one accident away from being totaled, paying collision coverage, which covers repair costs for your car after an accident, may not be worth the investment, says Voss.

Figuring out your car's market value can help you determine whether collision coverage is a solid investment.

6.  Drive Less

What's another way you can stop wasting money on auto insurance? Consider going green and driving less.

According to "What Determines the Price of My Auto Insurance Policy?," an article on the III's website, the more you drive, the more at risk you are of getting into an accident. Conversely, the less you drive, the less likely you'll get into an accident and cost your insurer money.

And many Americans seem to already be catching onto this tip, according to a June 2011 NAIC report, "Five Economic Trends That Might Impact Your Car Insurance Costs."

The report found that 40 percent of Americans are driving less overall and as a result, could already be taking action to lower their auto insurance rate.

Ways to Save: Carpool, bike, walk, or take public transportation when and wherever possible. Voss also recommends asking your insurer if they offer a low mileage discount as many people aren't aware of this possible price cut.


*The discounts listed may not be available in all states or from all insurance companies.