Monday’s Post 12/12/11 –  New York Insurance Association (NYIA) has elected Jeffrey Rice, the president and CEO of Wayne Cooperative Insurance Company in Clyde, N.Y., to be the new chairman. He will be serving for just one year, beginning in January of 2012.  For the last five years, Rice has been a member of the association’s board of directors. He was also awarded the company’s 2011 Chair’s Distinguished Service Award.  Rice has held a number of different positions in the past and in the  insurance industry. Rice chaired committees within the New York Insurance Alliance which  merged with the New York State Insurance Association. He also served  on the Board of Guilderland Reinsurance Company and  it’s  chairman.  Rice’s career in the insurance industry began twenty-six years ago. In the mid 1980’s he was an underwriter  for the Wayne Cooperative. Later, he was  promoted to Vice President and treasurer before he became the company’s president  in 1999.  NYIA has also elected several other executives for a one-year term beginning next January. The second vice chair position of the company was given to Vestal-based Broome-Co-Operative Insurance Company CEO Steven Coffey; and the position of treasurer was filled by Johnstown-based Fulmont Mutual Insurance Company president Marlene Benton-Sherwood.

The following  were recently elected for a three-year term which would start during the 1st quarter of 2011 until year-end of 2014.  Mark Prechtl, CEO of Chautauqua Patrons Insurance Company in Jamestown, N.Y.; Thomas Ruane, president of Security Mutual Insurance Company in Ithaca, N.Y.; Waqas Durrani, regional counsel for Allstate Insurance Company offices in Hauppauge, N.Y.; and Martin Doto, vice president of insurance operations for Preferred Mutual Insurance Company in New Berlin, N.Y. The Albany-based New York Insurance Association has more than 120 member companies. It is a trade association governed by the state and has represented the property/casualty insurance industry since 1885.

-Mike 

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 602

Friday’s Post 10/28/11 –  Travelers Insurance Company has introduced a money-saving program for its auto insurance policy holders. IntelliDrive, is a mileage- based auto insurance product. This was primarily launched to help low- mileage drivers cut annual vehicle expenses starting with a reasonable price cut of up to five percent immediately upon enrollment. Moreover with an increase in mileage, more cut offs in prices are available for drivers and other patrons. This includes an additional 20 percent discount at renewal given to regular customers depending upon the number of miles driven.

By simply plugging a small electronic device into the customer vehicle, IntelliDrive can measure mileage. It can also provide information on vehicle usage and personal driving reports. These include driving style and environmental impact such as fuel economy and carbon footprint which can help the customer adjust their mode of driving to cut fuel expenses. The information provided by IntelliDrive can then be can be accessed by customers electronically through a secure website.

Another advantage of this application includes optional alerts which can be defined by personal customer settings. These electives on vehicle settings depend on the discretion of the owner and can vary from one customer to another. For example, parents could set up vehicle alerts to notify them via email when the vehicle is driven aggressively, leaves a defined area, exceeds a certain speed limit or is used during an unauthorized driving period. With IntelliDrive, parents can confidently leave vehicles in their homes without the worry of improper vehicle usage by their children. Also customers can watch and improve their driving practices for safer and fuel thrifty trips in the future.

This beneficial insurance product is now available in Illinois, Ohio, Oregon and Virginia. With a visit to a nearby independent insurance agent or by simply contacting Travelers, IntelliDrive can be purchased. The aforementioned discounts and advantages may apply only to certain coverage, limited to certain states and benefits are subject to individual eligibility. InsureDirect.com invites all it’s Travelers Insurance Clients to call us about IntelliDrive.  I am personally looking forward to the product being available in Pennsylvania.

-Mike

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 602

Homeowners Insurance, Health Insurance, Life Insurance and Car Insurance have become a fundamental need in today’s world where nothing is permanent anymore. In some states, it is even mandatory to be insured with these for the safety and well-being of owners and others.

Home insurance is intended to aid the rebuilding/repair of your house when it is damaged by fire/flood or vandalism. It also covers the injuries done to the inhabitants of that house regardless of whose fault it was. This insurance policy is a requirement when your house is still under mortgage.

Cars have to be insured in the event of an accident. This means that the insurance company will be the one taking care of your car in the event of a car accident. Depending on the coverage you availed of, injuries caused by the accident may sometimes also be paid by the company.

Health Insurance has also become necessary in order to get the best health care. When you are insured, the insurance company will be the one taking care of your medical bills regardless the cause of your illness.

Life Insurance will take care of your burial costs and other expenses. In addition, it will also facilitate the payments required for the next of kin’s inheritance. Being insured for Life is something owners never benefit of, but rather leave it as a final gift for the left behind.

Because of today’s aggressive competition, especially because of the internet, insurance companies are forced to make changes in their conditions and basic requirements every once in a while. To make the most advantage of this, use online comparison tools to compare from many different websites and find the cheapest policy with the highest coverage and quality. These online comparison tools are free; thus whenever one requires a payment, use another service.

In addition, you could also make use of package deals with companies. This means that they bundle Homeowners, Life, Health, and Car Insurance together. Many companies would fall head over heels when you suggest packaging all your insurance policies into one. Insurance companies would highly appreciate this since your administrative costs will remain the same, yet the insurance coverage quadrupled.

Life is full of surprises. There’s nothing we can do to prepare for the unknown except for insuring ourselves financially in times of failure. Through insurance, we can be assured that someone will help us when we’ve lost most of our dear possessions.

InsureDirect.com^®  represents the nations top 30 auto insurance carriers and can provide you with the closest guarantee of saving you the most money on all your insurance needs.  InsureDirect.com and Insure-Direct.com is the only Federally Trademarked Nationally Licensed Insurance Agency  of the same name on the World Wide Web. InsureDirect.com can save you up to $550.00 or more.  For those whom have been drastically affected by the economy; ask us about our money saving  low Down Payments as low as $47.20.

– Mike

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Hello! I hope you had a nice weekend. Yesterday’s Post discussed how your personal credit rating or score is being used by many auto insurance companies to raise or lower your auto insurance rates. If you have good credit, you can expect to receive a better auto insurance rate.  On the other hand, if your credit score is poor or lower, you will forced to endure a higher auto insurance rate. Today; we will discuss ways to lower your monthly insurance premium regardless if you have poor or a questionable credit rating.

There are creative many ways to cut your auto insurance premiums when shopping for direct auto insurance in the state of New Jersey. Investigate the use of some Gadgets which can provide you a cheap car insurance rate simply by installing it in your car. For instance, a car alarm system, speed governor, air bag system and other safety devices will impact positively on your vehicle insurance premiums. Progressive Insurance Company, which InsureDirect.com has represented since 1993, has one of these neat new gadgets called “Snap Shot”. Snap Shots which monitors your driving habits.  The best part of this device is the following. Your rate can only got down for better driving habits – not the other way.

 Higher Deductible– You can also obtain cheap car insurance quotes online if you opt for a higher comprehensive or collision deductible. The down-side is; you will have pay that deductible and give up those savings in case of an auto accident. I have told this to my clients for twenty years; “car insurance companies are smart – you either pay them now or pay them later”.  A smart consumer will always pay them later. 

Discounts and Rewards- Online car insurance companies usually offer discounts and promotions to their loyal clients. Ensure you take full advantage of any promotional rewards or programs from the company.

The need for credit scores by auto insurance companies may seem unfair but it is not illegal. If you have poor credit scores, you may opt out of your current policy or choose to lower your premiums through the methods outlined above.

Keep in mind, if you know you have a credit problem, share that information with us when you call.  We will know which carriers to go through to insure you receive the low rate you deserve regardless of your credit.   If you want more information on Progressive Insurance’s new money-saving program,  “Snap Shot”, tomorrow’s post will discuss this new product.

-Mike

Funny thing. I didn’t think I’d been blogging about insurance for that long, so it took me by surprise to see how many posts I’ve accumulated.

Below you’ll find links to some of the most interesting ideas, information, and opinions about car insurance, homeowner’s insurance and renter’s insurance that I, the managers, agents, customer support representatives and other staff members of insuredirect.com have learned in nearly 20 years of helping thousands of customers find the coverage they need at the lowest price possible.

Although InsureDirect.com represents 30 major auto insurance carriers nationwide, a few auto insurance carriers in the agency’s inventory hold a special place in heart of the company’s President & CEO, Mike Dortch.

Farmers Insurance Group, the 3rd largest Auto Insurance Company in the United States, is one of these companies.

Fourteen years prior in 1996, InsureDirect.com started writing preferred auto insurance for a smaller auto insurance company named Maryland Casualty Insurance Company.

“The Maryland,” as it was affectionately referred to by the licensed insurance professionals who represented the carrier, was owned by one of the largest insurance companies in the world — Zurich Insurance Group.

In 1998, Zurich purchased Farmers Insurance Company and made it the cornerstone of its Personal Insurance Division. Management at that time selected specific qualified Maryland Casualty Insurance Company Agents to represent Farmers Insurance on the East Coast. InsureDirect.com was one of those few appointed insurance agencies.

At that time, Farmers Insurance sold auto insurance through a captive group of agents in the Mid West and West Coast. Until its acquisition by Zurich Insurance, Farmers Insurance had no agent representation on the east coast. Farmers Insurance did attempt to market auto insurance direct to the public a few years before. But even with television, radio and telephone directory advertising, the Famers Direct Insurance Program marketing effort was eventually shut down and its call center sold to another company.  Over the last few years, Farmers Insurance Company has restructured their personal lines products for their independent agents.  Farmers aquired a few other auto and homeowners insurance carriers;   Bristol West Insurance Company and Foremost Insurance Company. Both carriers  are represented by independent agents. InsureDirect.com  represented these carriers prior to the Farmers aquisition.

Over this last year, management at Farmer’s merged the two carriers and created a new auto & home product under the Foremost Insurance Banner.  Independent Agents which represent Farmers on the east coast, will now market the new Foremost  Auto & Home Products. The prices are just awesome. Farmers Insurance Company will resume being a captive carrier on the eastcoast.

InsureDirect.com still represents Farmers F.A.C.T Products along with 29 other auto insurance carriers.

Over the fifty years, Americans all over the United States have struggled with a difficult debate about the “so called” flaws in our Health Care System.  Some say it’s a good system and some feel it’s just plain bad. Regardless of what side of the issue you come down on in this squabble, in 2010 a national health care law, commonly called Obama Care, was passed and signed into law by President Barack Obama. As far as this agent is concerned, I’m sadly confident the new health care law will adversely affect auto insurance rates and cause financial distress for every auto insurance buyer across our great nation.

The bottom line is this; what ever laws which affect health care and health care reform will directly and negatively impact auto insurance premiums for every American who buys auto insurance. The problem will come down to cost shifting between traditional health care providers, the government and auto insurance carriers. In today’s insurance system, there is a very fair equity based agreement between all insurance companies about claims. It’s referred to as Claims Subrogation. Here’s how it works. If insurance company “A” makes payment on a claim for which insurance company “B” is responsible, company “B” will reimbursed company “A” for the full amount defrayed by company “A.”

When Obama Care starts to take hold in 2014; reimbursement rates for both State and Federal Programs such as Medicare and Medicaid will be responsible for reimbursing auto insurers for the medical bills the carrier pays on behalf of its auto insurance customers.  Reimbursement rates from both Medicare and Medicaid are far too low to cover an insurance provider’s expenses. Auto Insurance Carriers and other medical reimbursers of medical services will then need to charge higher rates to make up for the reimbursement shortfall.

Currently, the medical part of an Auto Insurance Policy is between 15% and 18% of an Auto Insurance Policy’s state minimum premium. In order to make up for this lost revenue, an auto insurance carrier may need to raise its customer’s rates.  On an average, the typical auto insurance customer could see an increase of 15%. This would translate to a $150.00 to $180.00 annual increase for most drivers. I’m sorry to say, this is not change I can believe in. In fact, once americans are forced to pay these drastic monthly increases in the medical insurance premiums; Obama Care will defeated and President Obama will be out of a job.

Because the negative effects on the entire health care system, such as outlined above, was not studied by law makers prior to the passing of Obama Care, it’s hard to tell how adversely last year’s health care reform law will affect auto insurance rates. What is certain, cost shifting will increase as the rolls of Medicaid and Medicare recipients are expanded and the other changes come into effect. It’s entirely possible that 15% to 18% higher auto insurance rates could be a low estimate. Since No-Fault Auto Insurance has been outlawed in most states, the auto insurance system has been self-sustaining. Unfortunately this will not be the case once health care reform reaches your car insurance monthly payment.

Mike Dortch, licensed Property/Casualty/Health Insurance Agent

7/8/11  UPDATE:  Since I first posted this article in February;  Obama Care has been proven to be flawed.  At least 2 dozen of the United States’s largest Corporations have requested waivers to not take part in the program. Personally; I have felt the effects of this new law.  On May 1., InsureDirect.com’s health insurance bill increased by ?12,000.00 for no reason. Instead of accepting the increase, I took an option of increasing our prescription deductible by $3000.00 and my Hospital deductible by $9,000.00. 

Jingles, Slogans and Your NJ Auto Insurance

Post Update August 4, 2012 Jingles, Slogans and Your NJ Auto Insurance – “Get more out of now” , “Get in the Game” , “We make it Happen”,  “Taking you forward.” “Our NJ Auto Insurance is always cheaper”. I am sure you are wondering what all these phrases mean. Well, they’re jingles and slogans from different NJ auto insurance companies in the United States.  NJ Auto Insurance Companies pay advertising experts millions to create slogans that are memorable and catchy to the public… at least for a while. But what they don’t realize is that after a period of time those once catchy slogans become old and void of meaning. They often get boring and, even worse for advertisers, sometimes make people skeptical of what it is they claim.

Our NJ Auto Insurance Rates Stay Lower

When I was younger, my Uncle Alex told me that, if you’re tired of brown-bagging your lunch and staying home during summer vacations, try taking a closer look at your car insurance to see if you can free up some money.

Well, I did, and it turned out that he was right. Despite that, even back then, the NJ Auto Insurance slogan “you can save on NJ car insurance” has become old, and familiar, it’s quite often still true.

When I got my first car I was kind of leery about the whole car insurance thing. I bought from the first company that seemed to promise the best NJ Auto Insurance deal. At that time, I found a company in the phone book that convinced me that all my car related issues had been covered. After expiration in six months, bearing in mind that my premium seemed a bit high and my budget was getting tighter, I decided to check around and compare prices with other automobile insurance providers To my amazement, I discovered my same company issued me a lower premium for the same coverage.

To find a good insurer, a car owner should first do a simple consumer survey. A consumer survey involves seeking information on users who find a certain insurance company appealing. This can be done by obtaining information from several people who have been customers of many insurance companies.

Secondly, it is important to search the internet. Drivers discuss their opinions and experiences with car insurance companies on blogs and other consumer forums. This information is easy to use and review.

Third, call different Body Shops and Mechanics — they tend to know a lot about car insurance and carriers’ claim paying practices.

Last and most important, visit government websites. Find out who is registered with your state’s insurance department. Anyone not licensed will not be approved. It’s also common to find that the insurance department displays information on complaints about insurance companies and agencies on their websites.

“Save, Save, Save on Car Insurance,” may seem to be one of those over saturated slogans in the marketplace, but the truth is it’s essential for a cost conscious car owner to check around each time before renewing car insurance. Premiums for different cars change significantly within a period of one year. even now, as I explain the importance of saving on insurance, I still feel like the announcer in an automobile insurance commercial.

Several years ago I had a Slogan on our Website.  “One Click; One Call, your insured”…….was used by my company for a several years from 2004 through 2008.  An earlier slogan used by  us from 1998 to 2004 was “Save by Insuring Direct

I am not sure if any one is “Getting into the game” with ATI Technologies or still being “taken forward” by Ericson. But what I can tell you is, taking a bit of time to research cheap car insurance before buying it can save you a lot of money. So, it really might turn out that the amount you save annually on you insurance coverage will, just like Dell Computers, help you to “Get more out of now!”

Jingles, Slogans for any product including auto insurance helps you remember a particular company or product for a short time.  It’s only when a product or service is exceptional you will consider spending your hard-earned money.

– Mike

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 602