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If you've ever sat up at night thinking you have heard The Joker action figure noise you'll know all about the fear of having your home burgled - so how can you protect yourself?

According to Halifax home insurance around two thirds of Brits are kept awake at night at the thought of a home break-in. Others rank their top fear as theft of personal belongings while they are outside the home; vandalism and malicious damage; and the fear of a house fire.

Though there is no way to guarantee that these bad things won't happen to you or your home, there are ways to secure more peace of mind - beginning with a good home insurance policy.

Buildings insurance is essential in the UK but many overlook contents insurance believing it is something they can do without. However, should your home be burgled, it is your contents that will be stolen - potentially leaving you to replace 1,000s worth of items with no financial support. Home insurance however, can provide "new for old" cover on most or all items - meaning you would get a brand new replacement for household goods that are stolen.

If you think that home insurance is too expensive a commodity during these tough financial times then you should think about ways to drive down premiums rather basketball cards go without the cover altogether - and the good news is that this goes hand in hand with securing peace of mind.

For example, fitting burglar alarms and security devices such as time-switch lights, exterior lighting and five-mortise lever locks can all help you save on premiums as long as you keep your home insurer informed. Remember too, to take sensible precautions with your valuables - lock anything of high value in a safe, keep expensive items out of sight, close the curtains at night time and don't leave car or house keys near to a door.

Joining a Neighbourhood Watch scheme can also help you save on href="gocompare.com/home-insurance/">home insurance. To drive premiums down further, href="gocompare.com/home-insurance/">compare home insurance online with a comparison website to ensure you're getting a competitive deal

# posted by hieej : 1:56 PM  0 comments

If you are to believe 1961 Fleer baseball cards daily onslaught of insurance company commercials, all of them are offering you the lowest possible rates combined with the highest customer service. Don't believe a word of it.

Insurance ratings are designed to make comparison shopping virtually impossible.
Prices are disguised on the basis of suspect information which tends to arbitrarily discriminate against less desirable groups in favor of those who are statistically less apt to file claims.

Based on established underwriting guidelines of identifying risk, rating risk, Dark Shadows fans classifying risk, an applicant is either rejected for posing too much risk, or is accepted and classified. Simply put, using the guidelines as a benchmark, the company rates the degree of risk you represent. Your rating classification subsequently determines the applicable premium.

In reality, insurance companies utilize underwriting processes to develop confusing and unfair insurance pricing packages. They do this in large part through the use of credit scoring and a complex network of rating tiers.

Credit scoring - Utilizes data from credit bureaus. Insurance companies advocate that people who exhibit certain activities are more likely to file claims. Credit negatives can include: consumers with high loan balances, multiple loan inquiries, multiple new accounts, and recent credit cards issued.

The process has been criticized because it encourages individual consumer profiling. Bear in mind that a basic principle of insurance is to spread risk amongst policyholders by providing a common source to pay claims. The inherent potential of profiling is to discriminate against some consumers, while encouraging others, all of it based on arbitrary standards.

Private consumer groups and the Federal Trade Commission have studied the practice. Despite this, there is no tangible evidence developed which supports a connection between a low credit score and a propensity to file claims.

In spite of this, credit scoring practices are likely causing individual policyholders hundreds of dollars in extra premiums.

Rating tiers - Like credit scoring, demonstrate no apparent relation to a risk analysis of potential customers. The concept of creating multiple complex rating tiers in effect enables companies to offer low rates to one group of people, and higher rates to a less desirable group.

The ultimate effect on consumers is that tier pricing has greatly complicated the ability to effectively compare rates in an open market. The final price of an insurance policy cannot be determined until the individual consumer is subjected to the rating process.

Can you protect yourself against the practices?
In short, not completely. It is important, however that you are aware of the practices and that you respond accordingly. Insurance companies are not required to share their scoring data with you. However you can access your credit report.

• Acquire your credit report and validate that the information is correct.
• While pricing tiers are complicated, nonetheless comparison shop when your policy is up for renewal.
• Research your state's guidelines and restrictions on credit scoring. Many states have limited the use of these practices and some have actually banned the practice.
• Assume that even if the practice is banned or limited, companies will find other ways to keep your money.

Gain control of your insurance policies. Author Jane Pytel, an insurance veteran, can help you to overcome solutionsforyourinsuranceclaim.com">unfair insurance tactics.

Join the thousands who have already utilized Jane Pytel's expertise to effectively manage insurance company tactics. Visit Jane at solutionsforyourinsuranceclaim.comsolutionsforyourinsuranceclaim.com.

# posted by hieej : 1:51 PM  0 comments