The National Association of Insurance Commissioners today released the results of a survey indicating that most Americans don't have a home inventory of their possessions.
The February survey indicated that 59 percent of consumers haven't made a list of what they own. Of those that had, nearly half didn't have receipts. More than a quarter didn't have photos of their property.
Home inventories are a key tool for recovering from a tornado, flood, earthquake or other disaster. They can speed up and dramatically simplify the insurance claims process. They can also help you and your agent decide if you have enough coverage if you have a rare collection or other high-value items. (On average, home contents are reimbursed only up to 50 percent of the home's insured value. In other words, if you're house is insured for $200,000, the maximum contents reimbursement would typically be $100,000.)
Last year, severe weather disasters inflicted more than $43 billion in the United States, according to the NAIC.
How to prepare a home inventory? There are smartphone applications to help. The myHOME Scr.APP.book app lets users capture images, descriptions, bar codes and serial numbers of personal possessions and stores the information electronically for safekeeping. The app organizes information by room and creates a back-up file for email sharing. There's a version for the iPhone and another version for Android phones.
For those without a smart phone, the NAIC offers a downloadable home inventory checklist and tips for effectively cataloguing your possessions.
Tuesday, March 13, 2012
Friday, March 9, 2012
More consumer tips: Company lookup, agent lookup, and where to look up financials
More tips for National Consumer Protection Week:
How to look up an insurer, including complaint history and disciplinary actions
How to look up an agent, insurance agency, or broker, including complaints and discipline
And how to find the company financial statements that show how your insurance company is doing.
We're the insurance regulator for the state of Washington. Not in Washington? Here's a map with links and contact info for every state's insurance regulator.
How to look up an insurer, including complaint history and disciplinary actions
How to look up an agent, insurance agency, or broker, including complaints and discipline
And how to find the company financial statements that show how your insurance company is doing.
We're the insurance regulator for the state of Washington. Not in Washington? Here's a map with links and contact info for every state's insurance regulator.
Thursday, March 8, 2012
Consumer tips: How to look up complaints, available health plans and rate hikes
More tips for National Consumer Protection Week:
-Look up the number of consumer complaints against specific insurance companies
-Buying health coverage on your own? Here's how to find a health plan in your area
-And see if your health plan wants a rate increase.
(We're the state insurance regulator in Washington state. Don't live in Washington? Here's a handy map with links and contact info for your state's insurance regulator.)
-Look up the number of consumer complaints against specific insurance companies
-Buying health coverage on your own? Here's how to find a health plan in your area
-And see if your health plan wants a rate increase.
(We're the state insurance regulator in Washington state. Don't live in Washington? Here's a handy map with links and contact info for your state's insurance regulator.)
Wednesday, March 7, 2012
Direct Buy Auto Warranty ordered to stop unauthorized insurance sales in WA
For the second time in less than a week, our office is ordering a New York-based company to stop selling unauthorized insurance in Washington state.
This time it's a company called Direct Buy Associates, Inc., although it also does business under several similar names, including Direct Buy Auto Warranty, Direct Buy Warranty, and DirectBuy Warranty. The order also includes AHMT Corp.
Direct Buy Associates and AHMT -- with have adjacent offices on a street in Brooklyn -- do business through websites like directbuyautowarranty.com, directbuywarranty.com and directbuyautowarranty.net. The companies have also listed mailing addresses that include a mailstop in New Jersey, a virtual office in New Jersey, and a European headquarters in Cyprus.
In 2011, we began getting complaints from Washington consumers who had bought plans from these companies. The plans, sold since at least 2009, purported to cover vehicle repairs. The companies sold at least 57 such plans to Washingtonians. At least one Washington consumer who paid the fees monthly was charged international transaction fees from Cyprus.
None of companies or principals named in the order are authorized to transact insurance in Washington. Nor are they registered here as service contract providers.
Our order requires the companies to send copies of the order to all their Washington customers, and to report to us all premiums they've collected for business here.
The order also names a number of individuals, including Albert V. Hakim, Michael A Hakim, R.D. Frazier, Jon Braidsworth and Robert Harrington.
This time it's a company called Direct Buy Associates, Inc., although it also does business under several similar names, including Direct Buy Auto Warranty, Direct Buy Warranty, and DirectBuy Warranty. The order also includes AHMT Corp.
Direct Buy Associates and AHMT -- with have adjacent offices on a street in Brooklyn -- do business through websites like directbuyautowarranty.com, directbuywarranty.com and directbuyautowarranty.net. The companies have also listed mailing addresses that include a mailstop in New Jersey, a virtual office in New Jersey, and a European headquarters in Cyprus.
In 2011, we began getting complaints from Washington consumers who had bought plans from these companies. The plans, sold since at least 2009, purported to cover vehicle repairs. The companies sold at least 57 such plans to Washingtonians. At least one Washington consumer who paid the fees monthly was charged international transaction fees from Cyprus.
None of companies or principals named in the order are authorized to transact insurance in Washington. Nor are they registered here as service contract providers.
Our order requires the companies to send copies of the order to all their Washington customers, and to report to us all premiums they've collected for business here.
The order also names a number of individuals, including Albert V. Hakim, Michael A Hakim, R.D. Frazier, Jon Braidsworth and Robert Harrington.
How to file a complaint against an insurance company
Having trouble getting an insurance claim paid? Waiting months?
We can often help. We're the insurance regulator for the state of Washington state, and we field thousands of calls a year from folks having trouble with claims. Last year, we got consumers $8 million in previously-denied or delayed claims.
There are two ways to reach us:
Important note: If you don't live in Washington state, contact your state's insurance regulator. Here's a handy map with contact info.
We can often help. We're the insurance regulator for the state of Washington state, and we field thousands of calls a year from folks having trouble with claims. Last year, we got consumers $8 million in previously-denied or delayed claims.
There are two ways to reach us:
- Our toll-free hotline: 1-800-562-6900.
- Or file a complaint 24/7 with our online filing application.
Important note: If you don't live in Washington state, contact your state's insurance regulator. Here's a handy map with contact info.
Monday, March 5, 2012
It's National Consumer Protection Week - March 4-10
Have you ever had your insurance claim denied or maybe you filed a claim and received less than you thought you deserved. Ever have trouble reading an insurance policy? If you're reading this now, you know about the Office of the Insurance Commissioner and the services we provide. But you probably know a handful of people who've never heard of us.
This week (March 4-10) is National Consumer Protection Week. Tell a friend about our consumer services and follow us on Facebook.
More than 500 people a month file complaints with us. Last year alone, we recovered more than $8.5 million for Washington state insurance consumers who had their claims denied or delayed.
Just in last few months we helped:
This week (March 4-10) is National Consumer Protection Week. Tell a friend about our consumer services and follow us on Facebook.
More than 500 people a month file complaints with us. Last year alone, we recovered more than $8.5 million for Washington state insurance consumers who had their claims denied or delayed.
Just in last few months we helped:
- A Redmond consumer get a $29,000 health insurance claim paid
- A Lake Stevens consumer collect an additional $2,553 on an auto claim
- A Rochester consumer get a $7,574 refund on their auto warranty
- A Sammamish consumer get their homeowners policy reinstated
Friday, March 2, 2012
New York company ordered to stop selling unauthorized insurance in Washington
Update (June 1, 2012): The order has been rescinded. UCAA participated in an investigation of this program and provided information showing that the company had committed no violations.
Our office today ordered the United Consumer Awareness Association to stop selling unauthorized health insurance in Washington state.
The company, a not-for-profit entity incorporated in Missouri, appears to have its home office in Syosset, New York.
The company, which is not licensed to solicit and sell limited-benefit medical insurance in Washington, nonetheless sold policies to 44 Washingtonians.
The order takes effect immediately. The company has the right to demand a hearing.
Our office today ordered the United Consumer Awareness Association to stop selling unauthorized health insurance in Washington state.
The company, a not-for-profit entity incorporated in Missouri, appears to have its home office in Syosset, New York.
The company, which is not licensed to solicit and sell limited-benefit medical insurance in Washington, nonetheless sold policies to 44 Washingtonians.
The order takes effect immediately. The company has the right to demand a hearing.
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