National Survey Finds Many Consumers Missing Out on Insurance Discounts

Trusted Choice® recommends consumers maximize little-known discounts to ‘nickel and dime’ their way to big savings.

As millions of Americans look for ways to stretch their budgets to survive these tough economic times, too many are not utilizing all of the discounts that may be available to them in their homeowner and auto insurance, according to a new national survey conducted for Trusted Choice® and the Independent Insurance Agents & Brokers of America (the Big “I”).

The survey asked home and auto owners if they believed they are taking full advantage of all the discounts they qualified for on their homeowners and auto insurance policies. More than 34% of respondents, representing 53 million households, admitted they are probably not taking advantage of all homeowners insurance discounts or said that they simply didn’t know. Regarding auto coverage, more than 20% of car owners either didn’t know or said they were not maximizing all the car insurance discounts available to them.

“The latest survey shows what we suspected: many Americans could be foolishly throwing money away because they fail to ask about insurance discounts for which they may qualify,” says Madelyn Flannagan, Big “I” vice president of agent development, education and research. “Companies often offer some unique, regional, very specific and, at times, quirky discounts. In these economic times, every dollar counts—some consumers may be able to nickel and dime their way to big savings.”

And those who stand to benefit most from the discounts are often those who aren’t taking advantage of them: nearly 38% of respondents with a household income of less than $25,000 said they weren’t taking advantage of all possible homeowners discounts or said they didn’t know.

The survey also found that the largest percentage of respondents, about 26%, estimated they save 6-10% on their insurance premiums by using discounts. In reality, many consumers could be saving significantly more—as much as 30%.

“One of the biggest advantages to using an independent insurance agent is that they can explore the various companies and find the best possible coverage for each individual family or business,” says Robert A. Rusbuldt, Big “I” president & CEO. “Finding specific discounts can be time-consuming and confusing, so we advise consumers to consult with their Trusted Choice® independent insurance agent and ask questions.”

HOME INSURANCE
The Big “I” and Trusted Choice offer the following tips that may lead to substantial homeowners insurance savings.

· LIFE IN A GATED COMMUNITY? Some homeowners are entitled to gated community discounts.

· WHAT’S YOUR HOUSE WEARING? Some insurers give hail resistant roof discounts for Class 4 roofs and credits can be sizeable in some territories.

· “EVERYTHING OLD IS NEW AGAIN:” Some companies are coming out with new rating models that are oriented toward offering lower rates to new customers. Sometimes, a customer can even save money by applying for a new policy with the same company.

· ‘FOR BETTER OR FOR WORSE’ MAY ALSO APPLY TO YOUR CREDIT SCORE: For married couples, sometimes one person will have a better credit score than the other. Since some companies will use the score of the first person named on the application, putting the spouse with the best credit score on first can result in a lower rate.

· GOT NEW WIRES? Depending on the age of newer electrical wiring in your home, you may qualify for an age of wiring discount.

· HAS IT REALLY BEEN 10 YEARS? If you have not filed any home insurance claims in the last 10 years, ask about a discount. “Claims-free” homeowners can often save up to 20%.

AUTO INSURANCE
The Big “I” and Trusted Choice provide the following tips and considerations that may lead to big auto insurance savings.

· IS YOUR TEEN A SCOUT? Some insurers give credits to young drivers who are involved in organizations such as Boy Scouts or Girl Scouts.

· WHAT’S YOUR ALMA MATER? At least one insurer gives a 5% credit if a driver is a graduate of a university on the company's approved list.

· DO YOU HAVE A COMPANY CAR? Many carriers will give a multi-car discount to consumers who have a company car even if they only own one personal vehicle.

· HAVE YOU BEEN WIDOWED? Some insurers give "married" discounts to widows and widowers.

· ARE YOU SHOPPING FOR NEW WHEELS? Before you buy a car, make a short list of the ones you're considering and ask your agent to estimate the difference in insurance premiums. The difference could save you thousands of dollars.

· ARE YOU A GREEN COMMUTER? Consider car pooling to reduce your commute frequency and ask your agent if that will impact your auto premium. In addition to reducing your carbon footprint, you may also be fattening your wallet.

· HOW YOUNG ARE YOU? In some states, if you're 55 or older, and you're the principal driver of your insured car, you could save on your premiums by taking an approved defensive driving class.

· GOT A TRACTOR? If you're a full-time farmer or rancher, and you're insuring a farm or ranch vehicle used exclusively for work on your property, a farm vehicle bonus could help keep your costs down.

MORE WELL-KNOWN DISCOUNTS:
While there are plenty of quirky discounts your independent agent can investigate, there are many ‘tried and true’ discounts that many, but not all, insurance consumers know.

· UNEMPLOYED? People who are out of work should qualify for a low-mileage discount or lower rating factor that can save 5-10% on their auto premium.

· MULTIPLE POLICIES? If you have property insurance with ONE company, you may qualify for a multiple policy discount to lower both your auto and your home insurance premiums by as much as 10-15%.

· SOUND THE ALARMS! Alarm credits are often available if your home is equipped with two or more of the following: fire alarms, smoke detectors, fire extinguishers, sprinklers, deadbolt locks and a burglar alarm. Savings can be up to 15%. (Criteria vary in some states. An agent can help determine what applies in your area.)

· ACCIDENT-FREE FOR THREE YEARS? If you've been safe on the road and accident-free for the past three years, and you haven’t received any moving violations, you might qualify for a good record discount. To be eligible, you and all additional drivers also need to have carried continuous, standard automobile liability insurance during those same three years. If you're a new driver and received your license within the past three years, you, too, could be eligible. Just make sure you meet the above qualifications from the date your license was issued.

· DOES YOUR CAR HAVE SAFETY FEATURES? Auto insurance discounts apply in many states, if your car comes equipped with approved anti-theft devices, anti-lock brakes, and/or passive restraint systems such as airbags.

The survey was conducted for Trusted Choice® via telephone by International Communications Research (ICR); an independent research company in Media, Pa. Interviews of a nationally representative sample of 1058 U.S. households were conducted in Oct. 28 – Nov. 1, 2009. More information about ICR can be obtained at http://www.icrsurvey.com.
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Isakson, Dodd Introduce Legislation Requiring Child Care Providers to Disclose Insurance Status

U.S. Senators Johnny Isakson, R-Ga., and Chris Dodd, D-Conn., both members of the Senate Health, Education, Labor and Pensions Committee, today introduced legislation that would require child care providers to disclose whether they have liability insurance.

The legislation was prompted by the story of Anthony DeJuan Boatwright, also known as Juan. In 2001, when he was 14 months old, Juan fell into an unattended bucket of mop water at his child care center in Augusta, Ga. As a result of the accident, Juan has remained semi-comatose and dependent on a ventilator for the past eight years. The center where Juan was injured was licensed, but not insured. At the time, there was no provision in place to let parents know the insurance status of child care providers.

“I hope the Senate will quickly pass this straight-forward, bipartisan legislation to simultaneously honor young Juan and provide parents with much-needed information about child care facilities,” Isakson said. “Juan’s mother Jackie deserves considerable credit for her efforts to ensure all parents know whether or not their child care provider is insured.”

“As the father of two young daughters, I understand the need for parents to be well informed when making decisions about child care,” said Dodd. “This bill will help to protect children and give parents peace of mind. I’m proud to support this important legislation, and look forward to future opportunities to improve the quality of and access to child care in this country for children, families, and providers.”

Specifically, the Anthony DeJuan Boatwright Act would require child care providers that receive Child Care and Development Block Grant funds to disclose whether or not they carry liability insurance for the operation of their facility. The bill also would require that states recommend such coverage in their licensure process.

Senators Saxby Chambliss, R-Ga., and Roland Burris, D-Ill., also are co-sponsors of the bill. A companion bill passed in the House of Representatives on June 2, 2009.
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Oxendine: Can Your Health Insurance Cope with Swine Flu?

Insurance Commissioner John W. Oxendine wants Georgians to be prepared for a possible swine flu outbreak by reviewing whether their health insurance policies will cover possible contingencies like hospitalization and prescription medications.

The Commissioner suggested that you take a few minutes and consider these questions:

* Does your policy have a preauthorization requirement for hospital admission or other services?

* What is your co-payment for the most common H1N1 treatments? The two drugs doctors can prescribe to treat H1N1 flu are Tamiflu and Relenza. Also find out if there are any coverage limitations that apply to the distribution of the medication. Some policies will restrict coverage on the number of doses per prescription or per year.

* What is your out-of-network co-payment? If your area is heavily affected by the spread of the H1N1 flu outbreak, your regular physician may not be able to see you in a timely manner. If you have to go out-of-network, be aware you will have to pay a higher co-payment for your office visit and possibly any tests run during the visit. Get prepared for any eventuality with the following checklist:

-- Have your health insurance I.D. card handy.
-- Review your health insurance policy provisions. Know which doctors and hospitals are in your network.
-- Make note of your co-payments. Know how much a doctor's office visit will cost. Check to see if your co-payments go up if you go out-of-network.
-- Find the list of pharmacies covered by your health insurance policy.
-- If you have plans to travel, make sure you check to see if there are any doctors or medical facilities in-network where you will be visiting.
-- Make sure you have contact details for your health insurance company available in case you have questions. Your employer may gather all pertinent health insurance information together for you in one simple-to-reference form. If they do, post the information where it can easily be accessed by you and your family.
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Panel Discussion to Address Impacts of Today's Economy on Retirement

Behind The Headlines: Making the Most of Your Retirement targeted to 70 + age group

WHO: Discussion members include Donna Barwick, J.D., Senior Director of Wealth Management for The Bank of New York Mellon; Henry Bowden, founder of The Bowden Law Firm; John J. Geraghty, Executive Vice-President of SunTrust Bank; Jim Hansberger, Managing Director, The Hansberger Group; and Michael A. Mohr, Managing Director of The Bank of New York Mellon in Atlanta. Emory Schwall, an Atlanta attorney, Certified Estate Planner and Special Assistant Attorney General for the State of Georgia representing the Insurance Commission, will moderate the discussion.

WHAT: Just how has the change in economy affected retirement? What’s it going to take to retire with security, manage long-term health care, and protect one's estate? Where are the financial risks? A panel of financial experts will discuss these questions and more at the discussion, “Behind the Headlines: Making the Most of Your Retirement.” The discussion will address estate planning, asset allocation, health care management, living wills, retirement strategies and other topics of interest to the 70+ age group.

WHEN: Monday, March 16, 2009, from 2:00 p.m. to 4:00 p.m.

WHERE: Woodruff Auditorium of the Atlanta History Center

WHY: The panel discussion is in response to recent news stories about the economy, much of which is aimed at baby boomers and their challenges, but little directly relating to people already enjoying retirement. The event is one in a three-part series hosted by Peachtree Hills Place, a residential community offering a continuum of care in Buckhead for people ages 55 and older, that will discuss the issues directly affecting this demographic.

Please Note: The event is free and open to the public, but registration is required. For more information or to register, call Peachtree Hills Place at 404-467-4900
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Oxendine Warns of Consequences of Proposed Health Insurance Tax

Insurance and Safety Fire Commissioner John W. Oxendine testified to legislators during his agency’s appropriations hearings that increasing the tax on health insurers and hospitals would lead to higher health insurance rates, more uninsured and could add to the financial hardships facing small hospitals already strapped for cash.

“I felt an obligation to inform the members of the House and Senate subcommittees that the proposal is more than just a 1.6 percent tax on health insurers and hospitals,” Oxendine said. “If passed, this measure will increase the cost of health insurance, and could force more Georgians into the ranks of the uninsured. In addition, the financial problems that hospitals are already facing will only be compounded.”

Oxendine’s remarks were in response to the Department of Community Health’s proposal to raise $317 million in revenue for fiscal year 2010 by imposing a new tax on health insurers and hospitals.
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Oxendine Orders Blue Cross to Reimburse $12 Million

OXENDINE ORDERS BLUE CROSS
TO REIMBURSE $12 MILLION

Atlanta – Insurance Commissioner John W. Oxendine announced today that he has ordered Blue Cross and Blue Shield of Georgia, Inc. to make additional claims payments of $12 million for certain ambulance services rendered to its policyholders that were improperly reimbursed.

The consent order is the result of a market conduct exam initiated by Oxendine’s office which revealed that Blue Cross incorrectly reimbursed out-of-network ambulance providers for services rendered. In a number of instances, Blue Cross made inconsistent payments for comparable ambulance services. In other cases, Blue Cross failed to increase its reimbursement rates over a number of years, in spite of the increasing costs of providing ambulance services.

“The proper payment of claims for emergency services is vital to the maintenance of our trauma system and equally important to protect consumers from excessive balance billing. I want insurers to know that I expect providers to be paid according to the requirements of Georgia law,” Oxendine said.

As a result of this action, Blue Cross has also been ordered to increase reimbursement rates for future out-of-network ambulance services. “Resolving prior practices is only part of the solution,” Oxendine said. “We must ensure that insurance companies reimburse medical providers and policyholders in a fair and equitable manner.”
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