Want to know how well your PPO health insurance plan stacks up?
Insurance commissioner Steve Poizner announced a new section to the State of California Department of Insurance website. The new page will rank health insurance providers PPO plans and allow consumers to further contrast competing insurance companies. The new service will rank health insurance companies on several scales, including preventative screenings, customer satisfaction, and mental health care scores, just to name a few. If you would like to see the full report, you can click this link http://www.insurance.ca.gov/0100-consumers/0070-health-issues/0050-ppo/index.cfm which will take you directly to the new page. If you have questions or would like to purchase a health insurance plan, give us a call. Fowler & Associates offers all major health plans for individuals and groups in California.
Business Continuation Insurance
What is the biggest risk your business faces? Most business owners will purchase workers comp, or general liability to protect their business from lawsuits. Indeed, many contracts and vendors require those policies to be in place as a matter of operating procedure. However, what do most people have in place to protect the income that the business generates? What would the owner of a small business do if he/she became sick or injured and could not work? What if he/she passed away – what would his/her family do to replace the income. Only 30% of businesses survive into the second generation. Only 24% of business owners have some form of formal plan in place. At Fowler & Associates, we would like to change those statistics. We will develop a new resource on our website to address this problem and educate our customers. Stay tuned.
California Sets Rules for Pay-As-You-Drive (PAYD) Insurance
The California Department of Insurance has signed off on the revisions to the rules allow insurance companies to offer an alternative rating plan. Under current rules, insurance rates are calculated based on an estimated number of miles driven per year, among other variables. The new rating program will allow companies to offer plans that charge a given rate by the actual mile driven. The program is supposed to encourage thrift, car pooling, and reduce usage thereby reducing carbon emissions, congestion, etc. For drivers who can control their usage, the new plan will likely offer more savings over a traditional policy. As soon as the plans become available Fowler & Associates will offer the new option to consumers.
New resource for Realtors
We have put together a free risk management property report for Realtors. Our report highlights the 4 most common insurance problems sellers face: 1) Brush zone restrictions, 2) Prior losses and Claims, 3) Flood zone determination, 4) Insurance costs. With our free report, realtors can now walk into listing presentations with confidence knowing that insurance problems will not hinder their transaction. Find out more about this amazing free service that we provide by visiting www.freelistingreport.com.
Fowler & Associates to produce eBook on all things insurance
Insurance coverage can be complicated and there exclusions in every single contract. There are things that are not covered on each and every single policy sold. Insurance policies work like jigsaw puzzles and can fit together well, assuming you are aware of all the pieces and how they fit. It is shocking how most people that we deal with have an unrealistic opinion of their own knowledge and understanding of their coverage. There is a tremendous need for honest, unbiased advice and simplification of these concepts and we at Fowler & Associates are going to do our part by producing an eBook to educate people on these topics. Stay tuned..
Four Commercial Auto Endorsements
The industry publication Insurance Journal posted an article recently, citing Four Commercial Auto Endorsements that every insured should consider. You can read the entire article here http://www.insurancejournal.com/news/national/2009/08/18/102972.htm. Each of these are good additions to any auto policy. To find out if your current policy contains these features, call us for a free review.
Safeco customer praises 'excellent' claims service
No claim is "routine" to the person making it, and how a company handles smaller claims is every bit as important as how it treats big catastrophe claims. Tesi Dela Cruz of Suisun City, Calif., knows that first-hand.
Driving home on May 19, Dela Cruz was approaching an intersection when the light turned yellow. She stepped on the brake to stop her car — but the driver behind her didn’t, slamming into Dela Cruz and pushing her car into the intersection.
“An adjuster came to my office to get an estimate of the damage, and Safeco employees were helpful when I called to follow up. They got me a rental car and paid the auto shop in a very timely manner.” - Policyholder Tesi Dela Cruz
She avoided serious injury in the collision, though she suffered from some aches and pains. Her experience with Safeco, however, was anything but a pain. “I was so pleased with the way Safeco handled my claim, because they were so organized,” Dela Cruz says. “An adjuster came to my office to get an estimate of the damage, and Safeco employees were helpful when I called to follow up. They got me a rental car and paid the auto shop in a very timely manner.”
Field Examiner Tom Donohue, who worked on the claim, says communication is the key to success. “Even though I didn’t meet with the insured,” he said, “we were still able to communicate with her and ensure the repair process went as smoothly as possible. And my dispatcher, Chrissy Severson, assured that time was provided for me to complete the assignment. “Everyone who handled this claim was on their game — and when we’re all on board we hear of these success stories,” Donohue says.
This was the first time Dela Cruz has been in an accident, and the first claim she has filed. Her experience prompted her to recommend Safeco far and wide.“Everybody was so professional, and that’s why I am highly recommending Safeco to my friends and relatives. My sister immediately switched to Safeco, and I convinced my manager to switch as well,” says Dela Cruz, who is insured through Gateway Professional Insurance Services in Vacaville, Calif.
“The premium is so reasonable as compared to other auto insurance and the Safeco service on claims is excellent!”
Fowler & Associates Owner Justin Fowler interviewed KDOW 1220 AM Radio
Below is the link to the interview that aired last week on KDOW 1220 business radio with Fowler & Associates owner Justin Fowler. We have uploaded podcasts of the entire 30 minute interview as well as the vignettes that were recorded to promote the segment. You can listen to them all on our website.
http://justin.insurance.officelive.com/podcast.aspx
ARC Loan for Small Business Owners
This is a little promoted program made available through the economic stimulus package. The loan is made under SBA (Small Business Administration) guidelines and allows PROFITABLE businesses to obtain a loan for cash flow purposes – to meet or refinance existing short-term obligations. The max value of the loan is $35,000 and is made at 0%. No payments are due for the first 12 months of the term, after which, repayment is amortized over a max term of 60 months at 0% interest. The only bank I know of that is actively processing applications for this loan is Washington Mutual, oh I’m sorry, I mean “Chase” Bank. Worth investigating if your business has sound financials but would otherwise like to lower borrowing costs for a short-term.
Kemper Insurance Company Receives Highest Rank
We’re pleased to announce that Kemper, A Unitrin Business, has been ranked number one by the California Department of Insurance’s Consumer Complaint Study, a study which ranks insurance companies according to their justified complaint ratio. Kemper was also the only auto insurer on the list with no justified complaints. The California DOI performs this study to assist consumers as they shop for insurance. To view the full results of the survey, click here.
Pay-As-You-Drive Auto Insurance Program
(Also known as PAYD)
Many states already offer this type of auto insurance program and California is set to be the next one. California insurance commissioner issued a press release in July 09 referencing the program and that his office supports such a rating alternative. The commissioner expects to clear the obstacles and have a version of this program available as early as Fall 2009
In speaking with a representative from Progressive, we learned that PAYD is probably more of a 2010 project in all likelihood. Progressive has PAYD programs in several states and has been piloting the program in Texas for a few years. Progressive is optimistic about bringing this product to California, assuming of course that the insurance commissioner lives up to his promise.
The benefits to consumers will come in the form of discounted insurance premiums for those drivers who put less mileage on their vehicles. The average driver in California will log 10,000 each year on their personal vehicles. Those who drive less than average, may see substantial savings. We will keep tabs on this interesting development and give you detailed analysis of the new programs as more information becomes available. Stay tuned!
KDOW Radio Interview
Fowler & Associates Insurance Services owner, Justin Fowler will be interviewed on the KDOW 1220 AM business of the week. Dates are still being determined, will post shortly when date of broadcast is confirmed.