Have you ever wondered what could qualify you for health insurance change outside of the open enrolment period? Well, I wanted to provide you with some information about qualifying life events that might allow you to enroll in a health insurance plan outside the typical open enrollment periods.
Qualifying events typically include changes in your life situation, such as;
Getting married or divorced
Having a baby or adopting
Losing other health coverage
Becoming a US citizen
Moving to a new zip code or county.
These events can provide you an opportunity to make changes to your health coverage when it might otherwise not be possible.
If you have even more question on this, you are welcome to reach out to Alliance and we would love to help. You can also click on this link for more information!
The insurance industry has recently seen significant regulatory changes aimed at enhancing consumer protection and market stability. Understanding these changes is crucial for both insurers and policyholders to adapt effectively.
Focus on Consumer Protection
Recent regulations emphasize consumer protection, ensuring that insurance companies provide clearer policy details and fairer claim processing. This initiative aims to build greater trust and transparency between insurers and clients.
Technological Adaptations
With the rise of digital insurance platforms, regulations now require stronger cybersecurity measures to protect sensitive client information. This includes stricter data management and reporting requirements, ensuring companies are adequately safeguarding consumer data.
Climate and Environmental Responsibilities
Insurers are now being urged to consider the environmental impact of their practices. Recent guidelines encourage integrating climate risk assessments into underwriting processes to better prepare for environmental challenges.
What This Means for You
Policyholders should stay informed about these developments to understand how they might affect their coverage and premiums. Both consumers and businesses can consult with insurance professionals to ensure compliance and take advantage of these regulatory changes.
Choosing the right life insurance can feel overwhelming, but understanding the options can make a world of difference.
**Term Life Insurance**: Ideal for those looking for affordable, temporary coverage. It offers protection for a specific period, such as 10, 20, or 30 years, and is perfect for covering short-term needs like mortgage or income replacement.
**Whole Life Insurance**: Provides lifelong coverage with a steady premium. It includes a savings component, building cash value you can borrow against if needed. Great for those seeking a long-term financial strategy with added investment benefits.
Have questions or curious about which policy fits your needs best? Our team is here to help! Reach out today and let’s explore your options together.
Fall is upon us, and I couldn’t resist sharing a few tips to help you navigate this season like a pro! 🍂
1. Embrace the Layers: Fall weather can be as unpredictable as a toddler with a candy stash. Layers are your best friend, so go ahead and perfect that sweater-on-flannel look!
2. Pumpkin Spice Everything: It’s officially pumpkin spice season! Whether it’s your morning coffee or an afternoon snack, don’t miss out on this seasonal delight. Warning: side effects may include an uncontrollable urge to visit a pumpkin patch.
3. Leaf Peeping: Fall foliage is nature’s way of reminding us how beautiful change can be. Find a scenic trail or park to enjoy the vibrant colors. Just remember, if you didn’t Instagram it, did it even happen?
4. Home Prep: Here’s the boring but essential part – time to prepare your home for colder months. Check your furnace, clean those gutters, and test the smoke detectors. Future you will be thankful!
5. Fun Fall Activities: From apple picking to haunted houses, there’s no shortage of fun to be had. Just make sure to fit it all in before the snow arrives, and we’re all stuck indoors again binge-watching our favorite shows!
Wishing you a fantastic fall filled with cozy blankets, warm drinks, and plenty of pumpkin-flavored treats!
It’s that time again: swimming pool season! There’s nothing quite like a refreshing dip to get relief from the heat–and I thought it may be helpful to provide an insurance perspective on pools so you and yours can enjoy safe, poolside relaxation all summer long.
Here are some essential pool safety tips and considerations; feel free to share this information with any pool owners you know as well:
Safety First:
Constant Supervision: Always have an adult closely monitoring pool activities, especially with children around. A moment’s distraction can lead to unforeseen accidents.
Secure the Area: A fence with a self-closing, self-latching gate around a pool can prevent accidental falls into the water by unsupervised children or pets.
Safety Equipment: With more than 6,000 children under 15 being treated in emergency rooms annually due to pool-related injuries, it’s critical to ensure the pool you’re using is equipped with life-saving tools, such as life rings, ropes, and a first aid kit. It’s also important for everyone to know where these items are and how to use them.
Something to keep in mind:Owning a pool increases liability risk. Should a guest or trespasser get injured in your private pool, you could be held financially responsible for their medical expenses and other damages. Here are simple ways to be proactive:
Review Your Policy: Ensure your homeowner’s policy is up-to-date and includes the liability coverage you need.
Consider Umbrella Insurance: For added protection, an umbrella policy provides extra liability coverage beyond what your standard homeowner’s insurance offers. It’s another safeguard against claims that could otherwise jeopardize your financial security.
By prioritizing safety and having the right coverage in place, you and your loved ones can enjoy pools with peace of mind, making your summer both enjoyable and safe.
Thanks to an unusual convergence of market trends, ushered in by the pandemic and followed by other disruptive events, you may see a bigger change to the cost of your home and auto insurance than usual when it comes time to renew your policies this year.
Insurance rates are based on what an insurer thinks it will cost to make you whole in the event of a loss – whether it’s roof damage during a windstorm or a vehicle totaled during a traffic accident. As you’ve likely noticed, pretty much everything costs more than it did even a few years ago.
What’s driving higher home insurance costs
If you’ve shopped at Home Depot or Lowe’s lately, you’ve certainly seen that the price tags on building materials have gotten pretty expensive. Last year, the cost of building materials rose 4.7%, reflecting a particularly strong uptick in prices on things like asphalt shingles (16.2%), concrete blocks (18.5%) and drywall (20.4%).
To make matters worse, the home-building industry is facing a shortfall of more than 300,000 skilled laborers, which is driving up construction-related labor costs. Combined with the high cost of construction materials and historically low housing inventory, this has been making home claims much more expensive for insurance companies.
What’s driving higher auto insurance costs
Ongoing supply chain issues are driving a shortage of car parts and equipment, which were 22.3% more expensive at the end of 2022 than they were two years earlier. The overall cost of maintaining and repairing vehicles increased 18.4 % over the same timeframe – exacerbated by a growing shortage of car repair technicians.
The same issues depleted the supply of new and used cars during the COVID-19 pandemic, and inventories have not yet recovered. As a result, the average price of new cars has risen 20% since 2020, while used car prices have skyrocketed 37%.
Rising medical costs are another key factor. While the number of injuries and fatalities from car accidents has somewhat declined from its peak in 2021, the rising cost of medical care continues to drive higher claims costs. Between 2020 and 2022, the overall cost of medical care in the U.S. increased 6.8%
It seems more like winter now in Michigan but technically it’s
still Fall and we’re getting ready for Thanksgiving! We have this blog ready to
help everyone have the most prepared and easy going Thanksgiving that you’ve
ever had! This way we can feel prepared for Black Friday shopping without any
stress from the previous day.
We’re hoping to help you have a very relaxing holiday and we’ve
made a couple lists for you!
Ideas for an organized Thanksgiving:
Do as much delegating as possible. Everyone
brings a dish. Your family can help clean. You can put someone in charge of
decorations. There’s something for everyone and you don’t need to do it all
yourself.
Have a list of all the dishes and who’s bringing
what. Creates less confusion for you and serves as a reminder that everything
is taken care of. Also, this will make grocery shopping easier.
Do as much as you can prior to Thanksgiving Day.
Get everything ready that all you have to put the turkey in the oven and wait!
Have your black Friday planned so that you can
discuss that as well and have a game plan. If you have this ready then you don’t
have to worry about trying to plan that during the Thanksgiving festivities.
Have your conversation starters ready so that
you’re not anxious beforehand and also so that you’re not stressed in the
moment. (see below).
Thanksgiving Conversation Starters:
What will we do with all the leftover turkey?
What’s your favorite Thanksgiving food?
What’s your least favorite Thanksgiving food?
What are you MOST thankful for?
What were your top 5 favorite things that you’ve
done in the last month?
Do you like Black Friday shopping? Anything in
particular that you’ll be looking for?
Is your Christmas shopping done already or are
you just getting started?
What will you be doing for your next vacation?
What’s one thing you can’t live without?
What’s your favorite season?
What’s your favorite dessert?
What’s your favorite Thanksgiving Tradition?
Do you like to start Christmas before or after
Thanksgiving?
Did you watch the parade this morning?
Did you go hunting at all?
Wishing you a very safe and happy Thanksgiving everyone!
Fall is here and times to transition our lives for the
season change! We’re putting away summer clothes, getting out the winter
clothes, prepping our homes for winter, and setting up holiday décor. It’s time to update your insurance policies as
well!
Do you have a vehicle to put in storage or take out of
storage? Do you want to add coverage to your vehicles for the winter months?
Have you double checked your home insurance coverages to make sure you’re okay
in the event of a loss? Have you prepped your home for winter? Do you need to
add drivers to your policy? It’s always better to be prepared for the worst so
you can have peace of mind if an accident occurs. Call your insurance company
to review your policies before winter hits!
If you’re wondering what to do to prep your home for the
winter months, we’ve made a quick list for you! This list will vary based on
your home but these are just some things to be considering during this time of
year.
Check your heating system.
Paint, caulk, and seal everything. This is
Michigan and you don’t want water, snow, or cold air getting in anywhere.
Clean your gutters.
Check smoke alarms and carbon monoxide alarms.
Clean chimney and order/chop wood.
Shut down pools and sprinklers. Drain outdoor
faucets.
Prep lawn, gardens, and trees for winter months.
Make sure attic is clean and sealed to prevent
critters from sneaking in there.
Prepare for snow. Get the garage cleaned out and
the snow blower ready.
Summer seems to be in full swing here in Michigan and we’re
living for it! After the extreme winter weather that we experienced, this
sunshine has been welcomed with open arms from us Michiganders!
August is upon us and it’s almost back-to-school season. This
is just your friendly reminder to update your home and auto insurance policies!
New school year brings new changes that you’ll want to address, here are a
couple of examples:
You have a child getting licensed that needs to
be added as a driver
You’re purchasing or selling a vehicle
You have a household member moving out or
someone else moving in
You have a college student and are eligible for
the good student discount
You’d like to add or remove any vehicle
coverages
It’s always good to contact your insurance agent when you’re
making any changes to your household. If you have anything new going on just
give us a call to make sure that your insurance is accurate!
We’ve also put together a short list of back to school items
for those of you who are looking forward to sending your kids back to school!
Pencil and pens
Highlighters
Binder
Notebooks
Index Cards
Folders
Ruler
Calculator
Planner
Backpack
Lunch Box
EXTRA CREDIT – it’s always kind to bring some extra supplies for the
classroom too. Tissues, dry erase markers, colored pencils, staples, etc. There
are many classroom essentials that the state no longer provides and teachers
are responsible for getting. Many hands make light work, if everyone pitches in
and donates a little to the classroom then your child’s classroom environment
will be a much more positive place. This way the teacher can start off the year
right and your child can get the education they deserve!
For those of us in Lowell, be sure to check the school website for all events coming up!
It’s the start of busy season and we want to be prepared! http://www.lowellschools.com/
