Find Help: There are plenty of resources out there that will help you create your home inventory. Check out downloadable inventory sheets like this one from freedownloadscenter.com. Here is another 15-page home inventory PDF that will guide you through the process. You could also try this free online version from KnowYourStuff.org. While the software is free, storing it will cost you $15 a year.

Grab Your Camera: Take pictures of your valuables like TVs, jewelry and antiques. If items have serial numbers, make sure you take photos of those as well. Take close up shots of identifying markers that would help law enforcement officials know that something belongs to you. You could also just shoot a video of your home for a room-by-room record of your possessions.

Store It: Common sense will tell you it’s not a great idea to store your home inventory in your home because as your home goes up in flames, so will all of your hard work. Find a way to store your data online or in a safe deposit box.

Update Regularly: Chances are you’re buying new stuff regularly. Make sure your home inventory is updated as you invest in new belongings. Pick a date every year or twice a year and put it on  your calendar. That way you’ll be ready when the worst happens.

Creating A Home Inventory For Insurance is a post from: Peppercoin Insurance

@ramseyshow: Blake: Grown-ups who spend everything they make are called LOSERS…and Congress. – Dave Ramsey

@tradethecycles: Steve Forbes: “Government spending has never worked as a trigger for sustained and vibrant economic growth. Ever.”

@moneydesktop:  Turn down the thermostat on your water heater. 120 deg F is hot enough & you save a lot by not heating the water to 140

@K_dot_RE: Do you believe in prenuptial agreements? they’re not only for rich folks

@JohnCMaxwell: Millions saw the apple fall, but Newton was the one who asked why. -Bernard Baruch.

@nancytrejos: Said a friend: “You can afford anything on Fridays.” Um, not sure about that.

@Deliverawaydebt: 10 deliveries, 3 stiffs, and crappy tips make for an unhappy pizza dude tonight.

@financialsamura: All I’ve gotta say is this: You’ve got to differentiate between opportunity & REAL opportunity. When it’s staring you in the face KISS IT!

@MoneyCrashers: Self indulgence makes us slaves to our egos while self discipline and restraint are portals to real freedom. – Daniel Lapin

@TodaysEconomy: Economist:”It looks like we’ll have to wait until 2011 to see as many Canadians working as before the recession.”

Tuesday Money Tweets is a post from: Peppercoin Insurance

According to reports, Sebelius wanted to hear from the executives as to why there was a recent jump in premium rates in several states. “I asked them to explain why these crushing burdens are being placed on middle-class families and what we can do to lower costs,” Sebelius said in a report on Insurance Networking News. “I also asked the CEOs to post the actuarial justification for these stunning rate increases online in an easy-to-understand manner, so that consumers can see why premiums are skyrocketing to the point that some people in the individual market can no longer afford coverage. I hope they will act quickly and make this information available to all of us. If insurance companies are going to raise rates, the least they can do is tell us why.”

The report says that Aetna CEO Ron Williams defended the increases, saying they were reflective of costs that insurance companies were paying to drug makers, hospitals and other health-care companies that were forcing increases to the cost of medical care. “The rate is really reflective of our other parts of the health-care delivery system,” said  Williams in a Wall Street Journal report. They said that trying to lower premiums without addressing those costs was destined to fail.

NAIC’s President says the hikes are another example of why all states need to be allowed to regulate their own insurance premiums. “State regulators are best positioned to perform rate review and many of us do so with great success,” said Jane L. Cline, NAIC President and West Virginia Insurance Commissioner. “Some, however, have not been given the authority by their state legislatures to review and deny unjustified increases. We believe that a federal backstop could help encourage these legislatures to provide that authority.”

Sebelius asked the CEOs to post information online that explains their breakdown of revenue including how much goes towards administrative costs, how much is spent on marketing and what goes towards actual care. She said making that information easy to access by consumers would increase transparency about what is happening in the health care industry and why rates are increasing.

White House Wants Answers On Increased Insurance Premiums is a post from: Peppercoin Insurance

The Oregon Insurance Division has fined Farmers Insurance Co. of Oregon $10,000 for violations. Consumer complaints led to the investigation. Consumers were seeing their auto and homeowner insurance rates go up at the time of renewal after their policies were re-rated. The basis for the re-rating, it turns out, is the policy holder’s credit history and/or an insurance score.

Per state laws and regulations, a credit history can only be used to refuse issuing the first policy but not to make changes to premium rates once someone is accepted as a customer. During the three year period in question, January 2006 to February 2009, there were 8,385 cases where premiums for personal insurance policies based on credit history were determined. Out of the 8,385 cases there were 1,050 policies where the premium rates were increased.

Farmers Insurance says that it was a computer programming problem that caused the premiums to be increased on policies when they should not have been. The company says there was a system error to blame and that the problem has now been fixed.

The Oregon Insurance Division issued its final report on 30-November-2009 under Case No. INS 9-10-002. The stipulation and final order has been posted on the insurance division’s website for everyone to read. The Oregon Department of Consumer and Business Services Insurance Division issued a $10,000 civil penalty against Farmers Insurance as a result of its finding. In addition the company has refunded $64,840 to consumers who had their premiums raised as a result of a review of credit histories or insurance scores. Only policies still in force were eligible for refunds.

This is yet another reminder that it is incumbent on consumers to understand the law and how their personal insurance premiums are determined. When a policy holder does not understand his or her rates or believes a rate change has occurred in error, the insurance company should be able to clearly explain and justify the increase per the law. If a consumer is not satisfied with the response received from the insurance company agent, it is important to follow through by speaking with a supervisor or someone at the corporate office.

If at some point the consumer believes the insurance company has not followed the law, it may be time to report the matter to the government insurance division responsible for enforcement. Each state has an insurance division that accepts consumer complaints. Too many consumers watch their rates go up and never question how the amounts were derived. Though insurance rate calculations can be complex, consumers should understand exactly what they are paying for and be able to obtain a satisfactory response when premiums change.

Oregon Consumers Get Refunds After Farmers Insurance Is Fined is a post from: Peppercoin Insurance

The potential crisis that could result from a banking run has largely been averted, and the banks are reacting accordingly. Bank of America Corporation had previously announced that it would opt out on October 16.

According to various spokesmen for Citigroup Inc., JPMorgan Chase & Co., and Wells Fargo & Co., the banks will exit the Transaction Account Guarantee Program on December 31, 2009. The Transaction Account Guarantee Program was set up by the FDIC (Federal Deposit Insurance Corporation) as an emergency response last October, intending to ameliorate the damage that a collapse of major investment banks such as Bear Stearns would have otherwise caused. Without the measure, consumer and investor panic might have resulted in a much more severe banking crisis.

The FDIC announced in August that it would be increasing fees for any banks that remain in the TAG Program past December 31. It is clear that U.S. officials are deliberately trying to encourage banks to return to self-sufficiency, and that by instituting fees on the emergency program, they are sending a message that the measure was intended to be a temporary one to avert financial disaster, not a permanent solution. Fortunately, most U.S. banks are back on track, if not already there, and it is good news when major banks can confidently remove themselves from government insurance programs.

However, not all banks have received bailouts like America’s biggest banks, and not all banks will be fully recovered by year’s end. Some smaller banks have announced partial exit plans from the TAG Program. This is a compromise meant to demonstrate progress, and the motivation for compromising is so they can avoid signaling some kind of weakness in their companies. By going halfway, these banks are able to recover without the risks they would otherwise face.

Emergency measures aren’t restricted just to TAG, though. The checking account insurance program is scheduled to terminate on June 30, 2010, and the FDIC has also ended its guarantees of bank bonds, as of October 31. These all signal a return to normalcy, if not growth, in the banking industry.

According to Citigroup spokesman Alex Samuelson, “As the economic environment normalizes, and with Citi now one of the best-capitalized financial institutions in the world with a deliberately liquid and flexible balance sheet, certain temporary programs have served their intended purpose.”

This news comes at a time when consumer lending has been tight and the unemployment rate continues to climb. There is no guarantee that these economic factors will significantly improve in the near future, but one thing is certain: they are not able to improve without a stable banking system behind them.

Consumers Beware – Big Banks To Abandon Extra Checking Insurance is a post from: Peppercoin Insurance

In general the proposed rules give insurance companies much more leeway when it comes to handling what it suspects are fraud cases. For example, one proposal is to make it easier for insurance companies to dispute health care charges that exceed appropriate free schedules. In another proposal the insurance company would be allowed to suspend medical payments related to the insurance claim if fraud on the part of the medical clinic is suspected.

The New York State Insurance Department has been working hard to find ways to reduce auto insurance fraud because consumers pay higher rates than would be required if fraud was lessened or eliminated. Currently New York Drivers are paying the second highest auto insurance rates in the United States. The cost of fraud cases is passed on to consumers through insurance premiums and is often called a fraud and waste tax.

No fault automobile insurance coverage allows a victim of a car accident to file claims with his or her own insurance company to collect medical payments and lost wages. It does not matter who caused the accident and thus the no-fault designation. But some of the costs of the no fault claims is related to court cases involving disputed medical claims.

The proposed regulations would make changes to the medical forms so insurance companies are better able to determine legitimate claims. This could speed up the settlement of legitimate claims. Some of the proposed regulation changes benefit the insured directly. For example, auto insurers would have to schedule medical exams for the insured so the exams are conveniently located and at reasonable times.

Another proposal is to increase the maximum attorney fee so the insured can be adequately represented. A minimum attorney fee would be eliminated in an effort to promote consolidation of claim cases.

Fighting waste and fraud with regulatory changes in the New York auto insurance industry is important if consumers want to see their insurance premiums contained over the coming years. The New York State Insurance Department has a fraud division that specializes in investigating fraud cases. Some of the fraud cases are instigated by organized groups that involve medical clinics and even attorneys and they operate throughout the state.

The changes to Regulation 68 are still in the draft stage and comments from the public are welcomes. It is expected that most changes as proposed will be adopted along with others being suggested. The consumer is likely to benefit once that happens as auto insurance costs are contained in the state of New York.

New York Making No Fault Auto Insurance Changes To Reduce Fraud is a post from: Peppercoin Insurance

For example, the fraud division handled 2,600 auto insurance fraud cases. Consumers should be concerned about this because fraud can lead to higher insurance expenses that are passed on through increased rates for all customers.

The State of Maryland has told consumers they don’t need to be concerned about the rising number of auto insurance fraud cases because the fraud division is investigating all reports. Of the 2,600 fraud cases, 1,300 of them were referrals.

In other words, they were reports of fraud sent to the fraud division. Because all reports of fraud are investigated the potential impact on insurance premiums is minimized since money will be recovered in many cases as a result of state investigations.

Auto insurance fraud can take many forms. For example, trying to charge an insurance company for auto damages that were not incurred as a result of a covered accident is fraud. Another type of fraud is called a “give up”. A give up is when an insured drive reports a vehicle is stolen when in truth it was not.

Why is the number of auto insurance fraud cases rising? The reason in Maryland and in other states seems to be the ongoing recession. According to Henneman, people committing auto insurance fraud are doing so to obtain money. With the economy in such poor condition and unemployment rising, many consumers are having cash problems. They pay their premiums for years and some begin to tell themselves it is time for the insurance company to return some benefits.

This kind of thinking leads to insurance fraud. For example, there have been cases of people setting old autos on fire and then filing a claim

Maryland has a progressive fraud reporting system which is why the state reassures consumers worried about higher premium they have little to worry about. Insurance companies can enter information about suspected fraud into a national online database. The information is then sent to the appropriate state for investigation. Being able to input information into a database speeds up the investigation process considerably.

There are 46 states that currently use the national secure database system for suspected fraud reporting. The Maryland Insurance Administration also participates in the Washington Area Vehicle Enforcement program and the Baltimore Regional Auto Theft Task Force.

When the recession started, law enforcement officials across the nation told the public that they expected to see an increase in many crime categories. When money is tight and unemployment is high, people get desperate. As the old saying goes: desperate people do desperate things.

The 2,600 auto insurance fraud case number is an estimate because cases are still being investigated. Some may turn out to be legitimate.

Fraudulent Maryland Auto Insurance Reports On The Rise is a post from: Peppercoin Insurance

All of the proposals being considered will impact the ability of families to keep debts and taxes low and that is why there is so much debate going on.

There have been a myriad of proposals concerning health insurance. Some suggestions have been to simply require everyone to buy some kind of health insurance.

That sounds good in theory but what if you can’t afford it? So the new proposals said everyone would have to buy health insurance, but people meeting certain income limits could get subsidies to offset the cost. There are also proposals on the table that impose financial penalties on those who don’t buy health insurance.

This is a difficult discussion because it holds so many potential pitfalls for consumers. Clearly most people believe everyone should have access to affordable health care. But placing another government imposed financial burden on taxpayers is not being received with a lot of enthusiasm.

Here is the heart of the problem. What if the government passes a health care reform law requiring the purchase of health insurance and the family simply cannot afford it even though they meet income requirements? They would be fined on their income taxes which makes it more difficult to comply with tax law.

It is difficult for many consumers to understand how health care reform has gone from providing basic health insurance to all to an IRS collection system. The IRS is the agency that would have to monitor and collect the penalties. But the most recent Senate Finance Committee recommendations are leaning towards softening the penalties.

Senator Olympia J. Snowe was quoted as saying, “The obligation should be first and foremost on the United States government to ensure that these (health insurance) plans will be affordable in the marketplace. It surprises me that we would have these high-level penalties on the average American when we have to certainty about whether or not these plans will be affordable. I just don’t understand why there’s this impetus to punish people.”

So what is in the works and what will impact consumers the most? The health care legislation is a work of art in transition. Some proposals impose new fees and taxes on businesses. Some plans place fees on high-cost health insurance policies. There are proposals to place fees on health insurers, drug manufacturers and others involved in the health industry. The biggest impact on consumer will come through mandatory insurance requirements and potential tax penalties.

The best advice right now is to begin evaluating your insurance situation including the status of health, life and disability insurance. If you currently have insurance through your employer, it is still advisable to consider how you would cover part of the cost of that insurance.

It is generally believed that by the time a law is passed even people who are insured will have to pay more for their coverage in order to cover the cost of universal health coverage. If your budget is so tight there is no room for one more penny of expense, then now is the time to look for ways to trim your expenses.

The good news is that if your insurance expenses do not increase, then you have a leaner meaner budget and can increase your savings rate.

Watching The Health Insurance Debate With Weariness is a post from: Peppercoin Insurance

Two groups, the Progressive Change Campaign Committee (PCCC) and Democracy for America (DFA), launched the ad initially in Montana, Baucus’ home state as well as Washington D.C.

Baucus is questioned in the ad about “whose side he is on.”

The television spot was created to promote the public option, the government-sponsored health insurance plan that has received such broad support from progressive elements. The intention was to rally support during the time that the Senate Finance Committee was considered an amendment to Baucus’ health care bill to incorporate a public option.

Based on recent estimates, the Montana Senator has obtained more than $1.7 million in political contributions from the health sector for the 2010 election cycle. Add to this the fact that his plan currently has no public option. Despite these two facts, Baucus has been quoted as saying that he personally supports a public option.

The PCCC and DFA have begun targeting other moderates in the Democratic Party, including Ben Nelson. Still other groups aim at moderate Democrats.

Such instances serve to highlight some of the factions that are causing breaks in the Democratic Party over the issue of health care reform. There are still many questions and issues that have not been addressed to the satisfaction of progressives or moderates. As it stands, coming to a compromise will continue to be a challenge when it comes to the public option.

The public option has become one of the serious “hot-button” issues surrounding health care reform legislation. By using television spots and other advertisements, progressives are signally to the moderate Democratic base that they will not be silenced.

Liberal Groups Take Shots At Democrat In Health-Care TV Spot is a post from: Peppercoin Insurance

According to recent census data, there is a geographical disparity in the numbers of uninsured resulting from a particular area or regions local laws, population makeup, and job markets. For instance, a majority of residents living in the Southwest are more likely to have no coverage than in places such as the upper Midwest and the Northeast.

The entire system is fragmented. It lacks the kind of strong infrastructure that would even out the issues and provide equal insurance coverage. Among the 435 congressional districts in the U.S., those in Texas have the highest percentage of uninsured residents.

At the opposite end, Massachusetts had the smaller percentage of uninsured of those tallied in its congressional districts. (This may be due to the state’s mandated universal health care program, which was established in 2006.)

In places like Houston, 40.1% of the population is uninsured. In Worcester, Massachusetts, it was only 3.4% of the resident population. In between, the two extremes a number areas show distinctive numbers. In populous centers like San Francisco, 11% were uninsured. The number was more like 15% in certain districts of South Carolina.

Next to Massachusetts, the states with the least uninsured residents were Hawaii (6.7 percent), Minnesota (8.7 percent) and Connecticut (9 percent).

Behind Texas, the states with the largest percentage of uninsured residents were New Mexico (21.4 percent), Nevada (21.3 percent) and Florida (20.8 percent).

Overcoming the obstacles imposed by such wide-ranging factors and the local bureaucracies of several states may prove nearly impossible. Still, it is an area of investigation that will be exploited from every angle in order to come up with viable programs that would give millions more Americans the chance at reasonable health insurance coverage, regardless of what part of the country they live in.

Where You Live May Make A Difference On Health Insurance Coverage is a post from: Peppercoin Insurance