According to Jack Ablin, Chief Investment Officer, Harris Private Bank, the slight decline in December does not reflect a larger negative trend in the US housing market.

“Improved job growth, consumer confidence and the best affordability on record are contributing to a stabilizing housing market across the US,” said Ablin.

Randy Raup, Senior Vice President, Retail Lending, BMO Harris Bank, noted that while the busy spring home buying season will likely present opportunities, potential home buyers in the Midwest should consult with a licensed Mortgage Loan Originator ahead of time to ensure they’re prepared financially.

“Potential homebuyers should always look to get preapproved before starting their home search,” says Raup.  “Buyer’s that are preapproved will have the security of knowing what they can afford which will aid them in their home search.  Preapproved buyers will also be in stronger negotiating position with sellers once they do find a home.”

An FBI preliminary semi-annual crime report suggests that auto theft may have dropped by 18% from 2008, due to 83% of the Metropolitan Statistical Areas (MSAs) reporting lower auto theft numbers in 2009. The FBI will release their official figures in the fall once all of the data has been compiled.

Even though the FBI data is not yet available, the National Insurance Crime Bureau (NCIB) just released the 2009 Auto Theft Hot Spots, identifying the top 10 highest Auto Theft Metropolitan Areas. The NCIB report examines vehicle theft data obtained from the National Crime Information Center (NCIC) for each of the nation’s MSAs. Laredo, Texas took this year’s top spot leapfrogging last year’s number 1, Modesto, California. The full 2009 Top 10 US Metropolitan Auto Theft Hot Spots are:

• Laredo, TX
• Modesto, CA
• Bakersfield, CA
• Stockton, CA
• Fresno, CA
• Yakima, WA
• San Francisco/Oakland/Fremont, CA
• Visalia/Porterville, CA
• Las Vegas/Paradise, NV
• Albuquerque, NM

If you live in one of these or just wanted to make sure you are protected. The NCIB recommends a “layered approach” to prevent auto theft. First, Common Sense is the best and easiest way to prevent auto theft. Make sure you park in a well-lit area, lock your car doors, valuables are not visible to passers-by and always remove your keys from the ignition.

Next is to install an Anti-Theft Device. Today, an anti-theft device comes standard on most vehicles, but if yours does not, going out and purchasing one could be a great investment. Third on the NCIB’s list is to utilize Immobilizing Devices. These devices can prevent thieves from hot-wiring your vehicle by stopping the flow of electricity or fuel to the engine. Some common devices include smart keys, kill switches or starter, ignition and fuel pump disablers. Lastly the NCIB recommends to install a Tacking Device. Tracking devices such as LoJack are extremely effective in helping recover the stolen vehicles and fighting Auto Theft.

LoJack and similar devices use a hidden transmitter to allow police to track the vehicle. LoJack itself operates in 26 states and the District of Columbia and claims to have a 90 percent recovery rate. Not only are tracking systems extremely effective in the recovery of stolen vehicles, but some insurers will also offer a discount for installing these devices.

Along with these prevention tips, auto insurance policyholders should review their auto insurance policy. Auto theft is usually covered under the comprehensive section of your auto insurance policy. The comprehensive coverage is not mandatory but covers full auto and component theft. Air bag theft alone costs insurers and car owners more than $50 million a year. The Insurance Information Institute estimates that approximately 75,000 air bags are stolen each year. Other sought after items amongst thieves are GPS units, Xenon headlights and catalytic converters.

Comprehensive coverage also adds piece-of-mind with coverage against fire, vandalism and weather-related damage such as earthquakes or flooding. So If you live in one of these Hot Spots, own a car that has one of the sought after items or live in an area that may be affected by earthquakes or flooding, comprehensive coverage may pay off in the long run.

Another type of basic auto insurance coverage that you may come across would be collision coverage, which is similar to the liability insurance but is more related to damages to your own vehicle. If your car is totaled, you will be eligible to receive the determined cash value of your car from the insurance agency. That is auto insurance information that will vary on the make and model of your car, with different coverage levels available. It can be a good idea to have your car assessed immediately when you buy it, to receive the full benefits in the event of an accident that was unavoidable, either on your part or someone else’s.

Comprehensive coverage is another type of auto insurance coverage that you will see in front of you in typical policies. This is also a way for the insurance company to pay for damage to your car, but in this case the damage is not from an accident. For example, if there is a natural disaster and your car sustains water damage; that would be one instance in which comprehensive coverage would cover the damages. Other instances that this type of insurance could pay out would include theft, vandalism, or collisions with animals on the road. To determine what type of coverage would best suit your needs and lifestyle, it’s recommended to obtain as much auto insurance information as possible.

In most cases, at the very least you will need to have the auto insurance coverage for both collision and comprehensive. That allows for a variety of accidents that could befall you, whether they are your fault or not. Personal liability is also recommended for legal situations in the future, to ensure that if you are sued, you are able to cover the costs. There is auto insurance information available at all car dealerships that can help further explain these differences.

Having coverage that goes above and beyond state minimum requirements is nothing new. In fact, if you’ve ever had a car loan, you’ve likely paid for more insurance than what your state requires. Full coverage car insurance is usually required for people who have auto loans on their vehicles to protect the lender from a total loss that cannot be repaid. Of course, even if you don’t have a loan on your car, you can get higher coverage limits for only a few dollars more a month to give yourself peace of mind. When it comes to auto insurance, bodily injury liability coverage is one of the most important types of coverage that you can have. Not having it, or not having enough insurance, can cause lawsuits and other legal problems that you don’t need to deal with.

If it comes down to the difference between an extra $20 a month for double or triple the coverage or not getting it and hoping that you’ll be okay, you need to get it. After all, when you don’t have enough coverage, you might end up paying thousands more than you ever would have because of a lawsuit settlement in favor of the victim. What sounds like a better deal to you: $20 a month or $500,000 from a settlement because you weren’t insured or didn’t have high enough limits? It just makes sense to get all the insurance that you can when it’s so affordable, because it will protect you from serious issues and having to spend the rest of your life paying for something that might have only cost $100 a year.

State Farm finished just behind Amica Mutual in the 2009 study. State Farm customers are usually very happy with the overall satisfaction the company provides. State Farm received great scores in the ability and ease of contacting and interacting with the insurer. The main differentiators between Amica Mutual and State Farm were noted in the pricing section. This area may be attributed to the fact that State Farm is the nation’s largest auto insurer, offering competitive rates, but not as low as Amica Mutual due to their selection process. Rounding out the Top 3 was Shelter Insurance Company. Shelter customers can expected a very good overall customer experience from the ability to interact with the insurer to being offered very competitive prices. The main difference between Shelter and the top two insurance companies is Shelter only operates in 14 states. While these reviews are extremely helpful for consumers, they should be used solely as a guide to identify the right insurance provider, especially as more and more insurance providers enter the online market.

Before looking for a provider, consumers should research what types of discounts are offered, what the average premium is for the selected car and be aware of their past driving record and credit score. Once they have a good idea of where they stand, choosing an insurance provider will be much easier.

You need to have hurricane insurance and flood insurance, because each covers their own damages respectively. Additionally, you need to understand how these coverage types will interlink with your home insurance to offer you the maximum protection possible. Even if you spend $1000 or $2000 annually on flood and hurricane insurance, it will be a small price to pay for the peace of mind that your home and family are protected against anything that might happen related to a hurricane hitting your town or city.

There are so many different things to do before hurricane season to make sure that you are prepared. The best way to stay on top of things is to create your own hurricane preparedness checklist so that you have everything in order. When you do have to leave because a storm is coming, remember to take important keepsakes that are irreplaceable, credit cards, checkbooks, and insurance policies with you because these are things that you cannot leave behind. As long as you are focused on preparation and not stuck in the ‘it won’t happen to me’ mindset, you will have no trouble getting ready for hurricane season.

-excessive wind damage protection
-flooding
-other hurricane-related damages
-loss of use

By making sure that you choose a policy that covers every possible worst case scenario that might happen, you will be more secure and able to rest assured that you are covered no matter what. Your family’s wellbeing is far too important to leave to chance.

Hurricane insurance coverage varies from one company to the next, as do the costs of the coverage that you get. This is where shopping around comes in handy, because some companies will charge more than others for different levels of coverage. Your goal is to find an insurance company that will give you the type of coverage that you need, a rate that you can afford, and the service and support that you deserve. It doesn’t matter how good of a deal you get on hurricane insurance quotes if they aren’t coming from a company that you can rely on when you need them most. Keep this in mind, and look for credible companies first and foremost.

Hurricane insurance quotes will tell you a few different things. They will give you an estimate of what you will pay (the premium) for the insurance, what types of coverage you get, and what limits are on the coverage that you are given. It will also give a laundry list of exclusions to ensure that there is no confusion over what you are paying for. This might sound harsh, but the insurance company does this to protect their own assets in the event that someone tries to claim something that isn’t covered. It’s standard with just about any insurance policy. If there isn’t a list of what is or isn’t covered, there will at least be a non-inclusive clause somewhere that states that if it isn’t explicitly listed, then it isn’t covered.

Keep these things in mind when you’re shopping for hurricane insurance coverage. Now that you know more, the shopping experience should be a little easier. Just make sure that you take the time to find the right coverage, and don’t skip out on this insurance because you think it’s too expensive or that you don’t need it. If something ever does happen, you’ll be glad that you have hurricane insurance.

Obviously, someone living on the coast is going to pay more than someone living inland, so keep that in mind. Make sure that you know what your home insurance covers. Also, know whether you need flood insurance or not. Many residents in New Orleans thought their hurricane insurance was enough during Katrina, and for many it turned out to be less than adequate because of the levee breaks that caused all the flooding. Ask questions if you have them. It is better to seem needy than to be uneducated about your coverage. The company should have no trouble giving you the answers that you need.

By taking the time to learn various hurricane coverage tips for shopping for insurance, it will be much easier for you to get the coverage that you need. Of course, getting insured is one of the biggest hurricane safety tips that you can follow. After that, it’s all about preparing for the storm and doing what you can to prevent damage so that you don’t have as much to clean up after the fact. If you take the time to educate yourself and research your hurricane insurance options, it will be easier than you think to get the insurance that you deserve. Don’t let yourself be fooled into thinking that you are somehow ‘safe’ from hurricanes if you live in the Gulf region of the U.S. or even the East Coast, because that mentality is what will cost the most.

What does this mean for the rest of the country in 2011? The question is still yet to be answered. As the 2010 statistics are slowly collected, experts are analyzing the data and looking for trends to forecast auto insurance rates in 2011. The issue, however, is that there is not a definitive answer with the data that is being received. Since 1980, Motor Vehicle accidents have decreased by 40% and since 1990; Traffic Fatalities have decreased by 8%. While these rate drops are great to see, they are only a few components of auto insurance rates.

Auto insurance is largely based on risk. And with the current economic downturn and high-unemployment rate, drivers may begin to see their rates increase. Another main factor that may cause rates to increase is hospital cost shifting. Analyzing and negotiating hospital bills can increase auto insurance premiums as they add to the overall cost of the adjusting auto insurance claims. In a report released by the IRC in March of 2010, the IRC estimates that hospital cost shifting associated with bodily injury (BI) liability claims in 38 tort and add-on states resulted in more than $1.2 billion in excess hospital charges in 2007.Other factors that may contribute to a rate increase in 2011 are the increasing cost of auto repairs and the growing reports of insurance fraud.

One way for drivers to save on auto insurance is to ask your provider about discount programs. Some programs to inquire about are good student discounts, good driver discounts, safe car discounts, customer loyalty discounts, multiple vehicle discounts, multiple policy discounts or pay-as-you-go policies. Finally drivers should always shop around for the best rate

The safer driving habits the customer has, the more the customer can save on their rate. The program is currently offered in 25 states, including New York, New Jersey, Illinois, Georgia and Texas. Enrolling into the program is easy and optional. Customers can enroll into the program online when purchasing an insurance policy. Once enrolled, the customers will receive a small “Snapshot” device that plugs into the car’s diagnostic port, which is usually located under the steering column.

The device fits most vehicles, but you may want to check to see if your car has a diagnostic port, especially if you own an older vehicle. Once the Snapshot device is installed, Progressive will start receiving your driving data, including the actual amount of miles driven, what hours of the day the vehicle is being driven and how often sudden stops are made while driving. Progressive maintains people who drive less, in safer ways and during safer hours of the day may receive a discount. Drivers are able to log in and monitor their discount through their Progressive account.

If you are confident about your driving performance then the Snapshot program may be a good way to save some money on your auto insurance in 2011; however if your driving habits are questionable then you may want to wait a little bit before jumping into the device as Progressive does have the option of raising your rate based on the data they receive. But don’t worry; if you are not pleased with the program or are receiving a discount, you are able to withdrawal from the program at any time. The data you accumulated during your time in the program won’t be used in determining the renewal rate, except for drivers in Alabama. Sorry Alabama drivers, but if you leave the program, Progressive may use up to 12 months of Snapshot data in determining renewal prices.

For drivers worried about sharing too much data or having Progressive monitor where they are driving, no worries. The devices is not equipped with a GPS, so your vehicle’s location will not be tracked and Progressive will not share your information with other parties unless it needs to be used to service your policy. The Snapshot program seems like a great way for safe, low-mileage drivers to save a little extra money. Drivers should expect to see more insurers offering programs which will provide discounts for having their driving habits monitored. If you have or are currently enrolled in the Snapshot program or a similar program, let us know about your experience and what changes you would feel would make the program more effective.

Premiums vary by state, but last year, State Farm Mutual Automobile Insurance Co. says it increased homeowners rates 7.3 percent on average and, this year, has raised them in 18 states, including a few by more than 7 percent. By contrast, it cut rates in just two states.  Other large insurers are following suit.  In Florida, insurer PURE Risk Management raised premiums 11 percent this year. Fireman’s Fund Insurance Co., a subsidiary of Allianz SE, says it has started to raise premiums in some areas. For some Pennsylvania homeowners, premiums shot up 33 percent last year.

For many homeowners, the startling increases do not seem to make much sense.  It is costing more to insure a house that is worth far less.  Insurance companies claim that premiums are based on rebuilding costs, not on a home’s appraised market value. Mike LaRocco, chief executive of Fireman’s Fund insurance said that due to rising costs of energy and building materials, homeowner premiums will increase.  Gasoline is up 37 percent in the past year and the cost of plywood has increased by 8 percent.

Insurers may also be raising premiums because of the increase in natural disasters.  New risk models are causing insurers to reassess rates, said PURE President and CEO Ross Buchmueller. A new hurricane model used widely across the industry forecasts a higher “wind risk,” even for homes far from the coasts, driving premiums higher.

In Florida, property insurance reform will likely cause many homeowners to see big increases in their premiums.  Many homeowners will be forced to buy private insurance instead of using the state-run Citizens Property Insurance.  Those still on Citizens will also see rate increases as strict limits to prevent Citizens from raising rates are no longer.

The average annual premium for homeowners’ insurance has been steadily declining until recently.  The average premium dropped 3.8 percent to $791 in 2008 from 2007, Institute figures show. It estimates the average premium rose to $807 last year.

On The Web

• Soaring cost of vet bills may cause pet insurance premiums to rise (money.marksandspencer.com)
• Rise in car insurance premiums (autonetinsurance.co.uk)
• Home Insurance Premiums on the Rise (online.wsj.com)

The changes in eligibility affect all employees, retirees, and agents.  Employees will be able to enroll a “legally recognized” same-sex spouse, civil union partner, or domestic partner in benefits for the first time, according to Phil Supple, State Farm spokesman.  He said “legally recognized relationship” is defined as: same-sex marriage, which is allowed in some states; same-sex or opposite-sex civil unions; domestic partnerships; or a substantially similar legal relationship.

The changes in State Farm’s health insurance policy will take effect June 1^st. This is the same day that the state law legalizing civil unions takes effect.  Illinois is now one of a dozen states that offer significant legal protections to same sex couples.

State Farm was legally obligated to expand its eligibilities to offer health care insurance to same-sex partners but only partially.  But the insurer decided “that to be equitable, all the insurance plans will be covered,” Supple said. It already offers such benefits in states where they are legally required. “State Farm, as an Illinois-based company, we are interpreting this law in a way that we feel is going to be fair and consistent for all of our associates,” Supple said.

It is unknown what the cost will be for State Farm to extend its coverage.  Supple said “we don’t see the volume of participation or the level of claims to be a significant cost factor.”

Fifty seven percent of Fortune 500 companies in 2010 offered domestic partner health benefits according to the Human Rights Campaign. “Everybody moves along at their own pace,” Supple said. “A lot of them do offer it, a lot of them do not.”

The “vast majority” of Fortune 500 companies who made the change recently did so to “attract and retain top talent” or catch up to an industry leader, not adhere to a new law, said Deena Fidas, associate director of the HRC’s Workplace Project.”It’s a relatively inexpensive investment for a really high yield,” she said.

On The Web

• US Firm State Farm offers same-sex benefits for staff (therainbowpost.com)
• State Farm Launches New Program in Illinois (winzerinsurance.com)
• Thanks To Civil Unions Law, State Farm Offering Same-Sex Benefits (huffingtonpost.com)

This week is National Dog Bite Prevention Week sponsored by the American Veterinary Medical Association and State Farm in a participant of the event. State Farm reported that they paid more than $90 million as a result of the nearly 3,500 dog bite claims in 2010.

The Insurance Information Institute (III) estimated that in 2009, insurers across the country paid more than $412 million in dog bite claims. This number represents more than one-third of all homeowner’s insurance claims. The number of dog bite claims actually decreased in 2010 after increasing from 2008 to 2009. In 2010, there were 15,770 dog bite claims, which is a decrease from 16,586 in 2009. Despite this 4.9 percent drop in claims year over year, however, the total value of dog bite claims remained relatively constant, which resulted in a substantial increase in the average claim amount.

“The average cost per claim has risen over the last eight years (2003-2010) which can be attributed to increased medical costs as well as the size of settlements, judgments and jury awards given to plaintiffs, which have risen well above the rate of inflation in recent years,” Jeanne M. Salvatore, senior vice president and consumer spokesperson for the I.I.I., said in a statement.

Many property insurance companies will not insure homes that have certain breeds of dogs because of the risk. However, there are many factors that contribute to the likelihood of a dog reacting by biting.  State Farm reports that they do not refuse insurance based on the breed of a dog that the customer owns but do require policyholders to answer questions about their dogs’ history and behaviors on a homeowner insurance application.  Children are often the victims of dog bites. Sixty percent of all dog bite victims are children under the age of 12.

On The Web

• State Farm Insurance shares dog bite claim info – and tips to avoid getting bit in the first place (barkaroundtown.wordpress.com)
• California, Illinois Top Dog Bite States (patspapers.com)
• National Dog Bite Prevention Week (bipedsandbrutes.wordpress.com)

The insurance-exchange is part of the health care reform under President Barack Obama.  The online marketplace would allow users to shop around and find the best rates for health coverage.  It would also help to determine whether people qualify for federal subsidies under the health care overhaul that was signed into law last year.

State Rep Mitch Greenlick, the Democratic co-chair of the House Health Care Committee, said last week that Democrats want to eliminate the language in the bill that would prevent the exchange from negotiating with insurance companies.  Greenlick proposed an amendment to strip the sentence from the bill that prohibits any bargaining.  Greenlick would like to see the Oregon Health Authority leave that option open.   “This simply opens it up so the Health Authority can produce whatever work plan it needs to produce,” Greenlick said.

State Rep. Jim Thompson, the Republican co-chair of the committee, could not be immediately reached for comment. Health insurance companies and their lobbyists in Salem want that provision to remain. Some business groups, such as the Association of Oregon Industries, are also against bargaining for the exchange.

Rep. Julie Parrish (R-Tualitan/West Linn) said she would be happy to not vote on the bill this session and still have the Health Authority produce a business plan with a revised bill for the legislative session next February. But it wasn’t clear whether that was possible. Others on the committee said that hasn’t been discussed.

“There’s not anyone I talk to who likes this thing,” Parrish said. “Some people think it doesn’t go far enough. Others think it’s too broad. I don’t think there’s a rush. There are so we have so many people on disparate sides that have concerns. Maybe it’s not ready for prime time.”

On The Web

• Insurance exchange bill on hold in House (bendbulletin.com)
• Oregon Health Insurance Bill Clears Senate Committee (winzerinsurance.com)
• Nebraska’s Legislative Bill 22 – Lawmakers Debates Abortion Restrictions (winzerinsurance.com)

The Hillsborough County Sheriff’s Office in Tampa said that search warrants were served at four medical clinics as part of the operation.  The clinics allegedly scammed insurance companies out of $1 million to $2 million during the course of the investigation. The suspects include clinic owners, managers, general employees, massage therapists, and participants in staged crashes. Charges range from conspiracy to commit racketeering to filing false insurance claims.

The National Crime Bureau (NICB), the Hillsborough County Office of the State Attorney Department and the Florida State Department Financial Services cooperated in the investigation. Officials began to investigate after deputies noticed an increase in dubious crashes beginning in September of 2009. Undercover detectives were used to learn which medical clinics were being used for the fraudulent claims.

Officials state that detectives discovered the recruiters and coordinators who solicited individuals to conduct the staged crashes.  The participants would then be directed to a particular medical clinic to sign blank medical forms. At the clinics, crash participants would be coached on how to describe their injuries or pain to physicians.

Florida requires all drivers to carry personal injury protection (PIP) insurance that covers up to $10,000 worth of medical bills.  Chief Financial Officer Jeff Atwater and insurers say that these types of policies invite staged automobile accidents, unnecessary medical treatment and frivolous claims filed by individuals wanted to cash in on these policies.  Proponents of PIP reform claim that fraud is driving up the costs for all policy holders about $80 a year.

The NICB reported that Florida had more questionable PIP claims that any other state in 2010, with Tampa leading the way. Statewide, PIP claims increased by 119 percent between 2008 and 2010. In Tampa, the number of claims jumped by 491 percent.  This marks the second major PIP bust in two years by the Hillsborough sheriff’s office. In April 2010, the department arrested 55 people in connection with a staged crash ring that involved some three-dozen fake wrecks.

On The Web

• Florida Auto Insurance Bill (winzerinsurance.com)
• Florida Advocates Seek to Reform No-Fault Auto Insurance (winzerinsurance.com)
• Florida Lawmakers Tackle Tort Reform (winzerinsurance.com)