Health Insurance Premiums to Rise?

It is being reported, and widely expected, that as Obamacare is fully rolled out consumers will see a tick upwards in premiums. The younger generation, for example, will likely see a bigger jump than they expected. One reason, older adult healthcare will be covered in more robust ways. Costs to care for older patients will be passed down along the lines and effecting the rates of everyone else, even for the young and healthy. Don’t gripe too much because we all will arrive there one day.

The Oregon insurance commissioner believes, according to online reports, that health insurance rates in his state could swing upwards by as much as 30%. Even the California insurance commissioner, a big proponent of Obamacare, has expressed concerns about rising costs. If costs rise as many believe it makes a person wonder as to whether care for our senior population will go down. There is no free lunch, even in government.

Businesses Dumping Spousal Health Coverage

More businesses are opting to not allow spouses of employees to be covered under their health insurance. Businesses not only save the premiums it costs to pay for spouses but also new, rising fees due to Obamacare. The fee used to be a few dollars but will jump to $65 per person in 2014.

Spouses who do not work tend to use health care more, according to reports. While kids are mandatory to cover under Obamacare husbands and spouses are optional. One news story said that the city of Terre Haute, Indiana stopped offering coverage for spouses effective July 2013. Again, that leaves people scrambling and particulary those spouses with health issues wondering what to do next. So much for covering all those uninsured with ease, as we were told would happen under the new health insurance law. From what we read it seems to be cause more people to be uninsured and disrupting lives and finances.

Insuring Celebrity Body Parts

It is not surprising to read that celebrities are insuring their body parts. Here is a list of some:

Tina Turner insured her legs for $3.2 million
Heidi Klum insured her legs for $2 million
Bruce Springsteen insured his vocal cords for $6 million
Dolly Parton insured her breasts for $300,000 each
Michael Flatley insured his legs for $40 million
America Ferrara insured her smile for $10 million
Keith Richards insured the middle finger on his left hand for $1.6 million
Holly Madison insured her breasts for $1 million

And here are most consumers wondering how to pay their basic auto insurance premium. Such is life.

Long Term Care Insurance

may be one of the most least known insurance plans in our country.

LTC Insurance helps pay the cost of a nursing home, assisted living facility or at-home care if you are too sick or injured to care for yourself.

Surprisingly, many young people need Long Term Care. Yet, for the most part, LTC is a product designed for our senior population. Senior citizens usually understand long term care and the impact of paying for it.

Nursing homes can easily cost $50,000 or more today – and those costs are rising. Imagine needing 3-4 years of long term care. How much of a dent will that put into your savings and investments?

If you are age 55 or older you seriously should consider asking us for quotes on Arizona Long Term Care Insurance. We can shop your LTC quote with a lot of top rated and top ranked insurance companies to find the BEST plan for you.

Our goal is to assist you in finding a LOW rate with the BEST carrier.

If you are unfamiliar with long term care or Arizona long term care insurance, please call our office today.

As always, we never pressure anyone and there is no obligation to get more information.
Are you getting older? Concerned about what will happen if you become sick and need assisted living care, at-home nursing assistance or even a nursing home?

A nursing home can cost upwards to $75,000 per year. How long can your finances hold out at that cost? Also, if you need a nursing home care you will need to spend most of your assets before government assistance will kick in.

Long Term Care Insurance is the one product that can help you:

1) Pay for long term care expense
2) Gives you or your family control over where you stay
3) Protects your assets

Call us if you want to learn more about Long Term Care Insurance.
MetLife recently announced they are pulling out of the Long Term Care Insurance market. They still have to continue servicing existing LTC clients and paying claims.

Other carriers may follow suit or make changes to their policies. It was also reported one other long term carrier provider lost a billion dollars, primarily due to costs associated with their long term care payouts.

When insurance companies began selling LTC insurance policies they likely expected a certain percentage of clients to keep their policies for a few years before stopping payments and letting them expire. That has not happened.

To their surprise, a vast majority of clients who bought LTC insurance are keeping the policies.

Truly, it really should not have come as a surprise to insurance companies that this happened. The majority of people who LTC insurance are older and in better shape financially – they can afford those higher LTC premiums.

Plus, Americans are living longer and needing more care than ever before.

There are still companies offering LTC insurance. If you believe you may need this type of coverage, please call me. We can help you make sense of which companies are “A” rated and offer the best rates.

Do we still recommend LTC insurance? Absolutely, maybe now more than ever. If you want to discuss or get a quote, please call me.

Car Insurance for Military Personnel

Think you have problems with your insurance?

Military personnel have unique considerations when buying car insurance. It’s possible that a military person could live in Arizona and have their vehicle titled and registered in Arizona. Yet, they are assigned to live and serve in a faraway location, such as Virginia.

Should this person insure their vehicle in Virginia or Arizona? What about those in the military that are shipped overseas? Usually, a person will keep their vehicle insured, titled and registered in their primary home state. Military personnel are given special considerations when they are transferred.

If a military person is shipped overseas they may be required to continue full coverage if a loan on the vehicle exists. That means they will be paying for insurance on something they will not have access to. It is estimated that over 10% of the military serve overseas with the bulk of our servicemen and servicewomen stationed in Germany and Japan.

It is not entirely out of the question for a military person to have their vehicle shipped overseas. If you knew you were headed somewhere for years it is an option to consider.

But for many, storing the vehicle in a garage or storage facility becomes a real possibility. Be sure to ask if your carrier offers any sort of storage discount.

If your vehicle is older and does not have a loan against it, consider dropping coverage to the bare minimum, except for comprehensive coverage, which covers against theft and vandalism.

Why not just put the vehicle in storage and simply buy new insurance when you return? If the vehicle has no loan against it that is a consideration. But when you return your premiums will be higher because you cannot prove current prior insurance. You need to balance the costs out to make that decision.

One advantage for military personnel – if you are ticketed on base it is believed that those are not reported to a motor vehicle department and would not count against your driving record.

Electronic Proof of Insurance

Currently there are only a handful of states that allow you to show your proof of insurance electronically. This includes Arizona, Alabama, California, Idaho, Louisiana and Minnesota. 20 other states are considering similar legislation.

One word of caution: If you loan your vehicle to another driver be sure they have electronic copy of your insurance or a hard copy in the glove box. You may have electronic proof of insurance but no guarantee that your friends do.

Electronic Proof of Insurance may vary from state to state. Do not assume all states have the same requirement or rules if you travel.

While we understand this generation loves their data phones it still is a good idea to continue storing your paper version in your vehicle somewhere for ready access if needed.

Finding the Best Rate on Your Insurance

There must be thousands of various advertisements stating that different insurance carriers have the lowest rate.

But how do you know which carriers will offer you a great rate?

Well, you can pick up the phone and call a bunch of companies yourself, which requires alot of time and patience.

But that’s exactly what independent insurance agents do on a local level. As an independent insurance agent and broker we compare Arizona auto insurance and Arizona homeowner insurance with leading and top rated carriers.

We offer the best of both worlds.

As an Arizona insurance broker our company saves you alot of time because you do not have to spend hours on the phone. And very often you can cut your insurance costs by alot too. One insurance company reported that a client turned in a theft claim on their renters insurance policy. Apparently every piece of furniture was taken while the insured was out of town.

The claims rep assigned to the case went to the apartment to interview the insured. The insured reported stolen living room furniture, big screen TV, book cases, bedroom furniture, computer desk and more.

The claims rep noticed the carpet looked new. He also noticed that nowhere did the carpet have a single indentation, which you would expect from an apartment full of furniture.

The claim was denied, to my knowledge. Unfortunately, fraud causes rates to increase for the rest of us when they are not caught.
We buy insurance for that unfortunate day when something happens in our vehicle or with our home. Trust me, I have experienced both. In the past ten years I have been rear ended twice, my daughter rear ended once. Our home had a water leak several years ago.

The insurance carriers did what they promised they would do – fix the damages.

What I always hope my clients will do is contact me if they ever have a doubt about whether they should file a claim. Every one of us has a deductible. If the damages to your vehicle are less than your deductible it is a moot point about whether you should file a claim. What if the damages to your vehicle are only slightly higher than your deductible?

Also recently, a client had two separate homeowner claims both during 2010. Now normally, insurance carriers do not raise your individual home premium due to claims. However, they can do something even more drastic. As a result of this client’s two homeowner claims within a 5 year period their insurance carrier is non-renewing their policy.

Some claims are no-brainers. You file the claim. Particularly when the damages far exceed your deductible.

Some claims you may be better served discussing with your insurance agent. If a small claim perhaps you are better served fixing that yourself? If you have a $1000 deductible and the damages are $1150 do you want $150 affecting your premiums or risk your policy being cancelled?

If you are a business owner please contact us for Arizona business insurance. We can shop your business insurance with several carriers to help you pay less. Business insurance can be confusing but if you take the time to shop it you can find some really good savings.

Call us today for a quote (480) 659-0229.

Gary Brown, Agent/Owner

Arizona Insurance Broker

Have you ever purchased insurance from an Arizona insurance broker before? It might sound scary buying from a “broker”? But if you have ever bought a home you likely used a real estate broker and a mortgage broker. These brokers simply shop around to find the best home and mortgage loan for you. We do the same for you with your insurance.

Some of the insurance carriers we do business with have been in business for fifty or even a hundred years! You probably can pay LESS and save MORE money by using an Arizona insurance broker, like Choice Insurance of Arizona.

Helping Clients Since 1993

My name is Gary Brown, owner of Choice Insurance of Arizona. I have been a licensed Arizona insurance agent since 1993 and have helped hundreds and hundreds of clients over the years. In 2007, I formed my own Arizona insurance broker company so that we can shop and compare insurance for our clients with a multitude of insurance carriers.

We carry an “A” rating from the Arizona Better Business Bureau!

Why Buy Your Insurance Through a Broker?

As an Arizona insurance broker, we can compare insurance with nationally known and recognized carriers such at AAA, Travelers, The Hartford, Progressive, Infinity, Unitrin, Foremost and many others.

We also provide insurance through many lesser known companies who are top rated and offer great rates but may not be familiar to you. Buying insurance through an Arizona insurance broker is actually quite the same as buying a home or getting a mortgage – we are shop and compare your rates with many companies.

Some insurance agents and companies can only give you one rate. Not us, we have many carriers at our disposal to help you save money. Why should you spend hours and hours on the telephone calling all these companies when we can do the same for you with ONE phone call. Our service is free to the consumer. We are compensated by the insurance company.

Auto Insurance and Homeowner Insurance Broker

There is no obligation to get a quote on your auto insurance and homeowner insurance. We can help you save money on your auto insurance and homeowner insurance by looking at many carriers to see who has the better rates. We work for you, not the insurance company. While we are compensated by the insurance carriers our first goal is to help you find a policy that is less and saves you money.

Be sure to ask about your coverage. We do not want you fixed only on the premium because if you have a claim you will not care about your premium as much as how well your policy protects you. Some clients simply want to carry the exact same coverage they have or had with their prior carrier, and that is fine. However, we encourage you to allow us the opportunity to speak with you about your coverage limits. We want you well protected.

Life Insurance Broker

There are dozens and dozens of life insurance companies offering very competitive rates. We compare with upwards of fifty different Arizona life insurance companies to find you the lowest rate available. We also will help you design a plan that fits into your budget. There are different types of life insurance available – term, whole life and universal life.

Which Life Insurance Plan is Best?

All of the life insurance plans can serve your needs – but they all have differences and utilizing them to your best purpose and cost is what you want to accomplish. We can help. Have a tight budget? Let us help you design a plan that fits what you are able to spend? Want a life insurance plan that will cover all your needs for the rest of your life? We can help you design a plan to accomplish both needs.

Boost Your Retirement Income

And for our retired clients we can help you increase your retirement income through our Lifetime Income Annuity. This investment has no risk because your monies are not invested in the market. We place your monies with the insurance company, who in turn provides you with a lifetime income that will never decrease. There is also no fees associated with this product.

Call me. We try harder to save you money and provide exceptional customer service. You are like family. I hope you give us an opportunity to help you with your insurance.

We provide Canadian Insurance in Arizona because there are so many winter visitors here from Canada. Our neighbors to the north provide a much needed influx of capital to our state. They are crucial to the success our state because of the money they spend. But even more than that, our Canadian visitors cause little trouble, pay cash, spend money, and make great neighbors here.

Thanks!
Gary Brown, Agent/Owner
(480) 659-0229