ABC News may have helped the wife of a Vietnam War vet avoid getting her insurance coverage axed over a two-cent error. ABC News says when the cancer patient made a payment to Ceridian, the company that distributes the couple’s COBRA insurance, they made a two-cent mistake. The check was made out for $328.67, when it should have been $328.69. That mistake prompted the insurance company to cancel coverage.

When the company found that the couple had not made their full payment they issued this statement, “We did not receive a full and timely payment and [the insured] was provided several notices of the shortage and a grace period reminder notice on the last invoice, along with extended grace dates as provided for under COBRA regulations,” the company said according to reports. “Since the payment was not full, it fit into the definition in the regulations of an ‘insufficient payment.’ … Ceridian understands nothing is more important than one’s health. … Unfortunately, we simply do not have the capacity to be able to personally call continuants and remind them of the status of their Cobra benefits.”

Once ABC News got involved, however, the insurance company had a chance to rethink their decision. “We’ve reviewed the situation thoroughly,” a rep for the company told the news agency. “And we’re pleased to say… [the policyholder's] insurance coverage was reinstated.” However, Ceridian did not feel that it needed to apologize for the error.

According to new research, insurance prices vary drastically between drivers with a good driving record and those with a tarnished one. The cost difference can be as much as $3,000 a year depending on which auto insurance company you’re using. A Chicago-based insurance resource company did the research to find out how much a bad driving record will really cost you.

The company says they created three driver profiles using made up people. All of them were 21-years-old, driving 2009 Mustangs and living in Palatine, Illinois. Each of the fictitious drivers had the same five to six year history. The only difference between them was their driving record. “Everything else about the drivers’ profiles was as identical as possible using the various online applications of six major auto insurance companies,” David Thompson, President and CEO of E-Insure Services, said in a news release. “Good Driver had no moving violations and no accidents, Bad Driver reported a couple of accidents, and Drunk Driver had a DUI conviction.”

The best driver of the bunch was able to get insurance rates as low as about $90 a month. The bad driver received quotes ranging from $166.22 to $238.05. And finally, a drunk driver was given a wide range of quotes. “One carrier wouldn’t insure Drunk Driver at all. Another wanted $347.86 per month. And a third gave Drunk Driver the low quote of $95 a month, almost as low as Good Driver’s lowest car insurance quote ,” said Thompson in the news release.

Even the company conducting the research says the broad range in quotes is surprising. “Car insurance companies look at a number of factors besides driving records to determine premiums. The miles you drive, your vehicle and its safety rating, even your credit score come into play. That’s why it really pays to get at least three competitive auto insurance quotes before you commit,” said Thompson in the news release. Thompson says most drivers can expect to pay about six percent more this year for author insurance compared to last year.

In order to save money, experts say it’s important to take advantage of anti-theft discounts, multi-car policies, and enlisting the same company for multiple insurance products. Thompson offered up other options for cutting costs, “Pay annually instead of monthly. Pay online at the insurer’s website. You should also review your auto insurance at least once a year and review your coverage options.”

Seven insurance companies have filed lawsuits against Toyota Motor Corp. According to various news outlets, the companies are looking to get back some of the money they paid out in crashes they say were caused by sudden acceleration. According to the LA Times, the seven companies involved in the lawsuit are:

* American Automobile Insurance Co.

* Fireman’s Fund Insurance

* National Surety Corp.

* Ameriprise Insurance

* IDS Property Casualty Insurance

* Motorists Mutual Insurance

* American Hardware Mutual Insurance

The companies are looking to be refunded more than $230,000 for 14 crashes that happened across the US. The insurance companies say Toyota did not install an override system in its cars that would cancel out the sudden acceleration system. If installed, an override system would have pushed the car into an idle when the brake and gas were engaged at the same time. The insurance companies say there were 725 crashes caused by sudden acceleration.

Toyota says the claims are false and their product is not faulty. “We look forward to the time when they are compelled to specify exactly what is defective, backed up by scientifically reliable proof rather than speculation,” Toyota spokesman Mike Michels told the LA Times.

It was a rough year for banks, according to the Federal Deposit Insurance Corp or FDIC. More banks failed during 2010 in the US than any year since 1992. That’s quite startling when you consider that 1992 was the height of the savings-and-loan crisis.Statistics show that there were 157 bank failures in 2010, compared to 140 in 2009. Just four years ago there were no bank failures. Officials hope this is the worst year for bank failures. “Going forward, the FDIC looks to see fewer failures,” agency spokesman Greg Hernandez told the Washington Post.

And even though the number of bank failures was high in 2010, the FDIC believes there are many more weak banks that could follow. As of this fall there were 860 banks listed as “problem” banks by the FDIC. Typically about one fifth of the banks that make it on to this list end up failing. As a result of these failures the FDIC insurance fund is in the red, but authorities say they’ll have enough money to cover bank failures through 2014. Here are some interesting statistics about the banks that failed in 2010:

• On average the banks that failed in 2010 were much smaller than banks that failed in 2009.
• The assets of the banks that failed in 2010 totaled more than $92 billion. That’s a drop of more than 45% compared to the assets of the banks that failed in 2009.
• In 2009, the assets of failed banks totaled more than $169 billion.
• Roughly half of the 2010 failures involved banks based in California, Florida, Georgia and Illinois.

The FDIC exists to protect bank customers when a bank does fail, making sure they don’t lose money. “These are very small institutions,” Gary B. Townsend, president of Hill-Townsend Capital, told the Washington Post. “The total assets that they represent is insignificant compared to the financial system as a whole. It’s quite manageable.” And according to the Washington Post, just because banks are failing, that doesn’t mean the economy isn’t improving. As an indicator, failing banks are typically well behind economic trouble.

Halloween can be a scary time for some business owners. For those that run haunted houses, corn mazes, pumpkin patches and other venues that are popular destinations this time of year, it can be extremely scary if they’re not properly insured in case any boys or ghouls happen to have an accident. According to a report from Claims Journal, it’s important to consider the risks for any event whether you’re operating a hay ride or a petting zoo. “I actually had one person tell me they had a tiger in their petting zoo,” David Baker, principal at Stratum Insurance Agency in Costa Mesa, Calif, told Claims Journal. “That is not a good idea.”

Since insuring a haunted house isn’t exactly the same as insuring a regular one, it does require some extra research by insurance agents. “From an agency standpoint, what you need to know is the basis of that haunted house, the event they are having, how is it going to be laid out, is it indoors or outdoors? Really get your hands around what they are going to have there and what kinds of risks there are going to be,” Brett Hager, account executive at Market Financial Group, told Claims Journal. “Some get a little crazy and might have a flame thrower or a canon that shoots pumpkins. Does the public have access to these? That’s something you need to know.”

Slips, falls, and things that go bump in the night can all equal big claims for the insurance company when covering venues for Halloween. Agents need to tour the venue beforehand and find out if it’s worth the risk. “People say it’s a pumpkin patch, but in reality they might have a carnival running, too,” Hager told Claims Journal. “Know what your customer truly has; don’t just take it at face value. A lot of people call us and say, ‘it’s just a pumpkin patch’ and I say, ‘well I am looking at your site and see you have a shooting range, too.’ There can be a lot of risk there.”

Some insurance companies say Halloween venues are just too scary, so they’ve opted out insuring them due to risk. But those that do service the industry offer general liability insurance, volunteer accident coverage and equipment insurance, according to Claims Journal. “I think standard carriers underestimate the professionalism that most of these guys operate under,” Robin Walker, commercial department manager for InPro Insurance in Troy, Michigan told Claims Journal. “Some of these are movie quality, theater quality sets and scenes, and the good ones that want to stay in business and want people to come back have to be safe. Standard carriers underestimate the safety aspect.”

The first Sunday in November marks the time to set your clocks back. It also marks the onset of darker evenings. Home insurance experts say it’s a time when burglars can increasingly target properties this time of year. They have more dark hours which gives them a great opportunity to strike, according to Halifax Home Insurance. The insurance provider says last year they recorded a 63 percent increase in burglary claims during winter months compared to summer months. “Year on year we typically see far more burglaries occurring during the winter,” said Halifax Home Insurance Senior Claims Manager Martyn Foulds in a news release. ” Burglars will tend to go for the path of least resistance and look for homes that lack even the basic security measures, so a few simple cost effective steps can go a long way to avoiding a break in.”

Some tips to help you make it through the winter without welcoming in a burglar include:

* Keeping valuables away from windows and doors where a crook can easily spot them.

* Mark property with an inscription or ultra violet pen.

* Photograph your personal items and keep track of receipts and serial numbers.

* Invest in a small safe to keep unused credit cards, personal documents and small valuables like jewelry.

* Make sure all doors and windows are locked.

* Even though it’s convenient, don’t hide a spare key outside of your property.

* Consider installing an alarm.

* Trim bushes near windows to give burglars fewer hiding places.

Not only is it a good idea to revisit your home insurance policy for theft reasons, WVNS says it’s also a time to reevaluate your coverage overall. Insurance agents advise assessing the true value of your home. That way if bad weather, flooding or snow hits you’ll be covered. “When a loss happens we have insurance to pay for the damage, but there’s a lot of hidden costs that you’re not compensated for; in that you don’t have insurance coverage to pay for you to shop around for a new refrigerator and a new roof, or a contractor to repair the damage,” Jim Songer, President of Songer Insurance told WVNS.

Want to pay less for car insurance? Just ask, says US News and World Report. While there’s nothing new about car insurance discounts, many people still forget to ask about them. According to US News and World Report, here are the top six insurance discounts that you may want to inquire about.

1. Multi-Policy and Multi-Vehicle Discounts. Do you purchase many of your insurance products from the same place? You should be rewarded for that. Same goes with car insurance when you have multiple vehicles insured at one company.

2. Low-Mileage Discounts. Not all providers offer this according to US News and World Report, but you should definitely ask. You can save up to 40 percent they say.

3. Good Driver Discounts. It doesn’t seem right that accident prone drivers pay the same as cautious ones. Some insurance companies will reward you for your good record.

4. Vehicle Safety Features. Things like a car alarm, anti-lock brakes and airbags can all add up to savings. Be sure to let your insurance company know if you have these features.

5. Affinity Groups. Your HR department or an organization you belong to may be the source of more insurance savings. Ask around to see if your group affiliations can lead to discounts.

6. Hybrid Cars. These fuel-efficient cars are also good for saving money on insurance, according to US News and World Report.

According to new research, workers are increasingly opting to forgo insurance benefits from their employers so they can instead have bigger paychecks. Nearly 40 percent of companies say it’s a growing trend for employees to opt out of benefits like pension plans, life insurance or income protection in order to take home more money.

Another 18 percent of companies polled say they’ve also seen a drop in the amount of money staff are willing to contribute to their pension. “We’re witnessing several concerning trends that would point to many employees currently taking a very short-term view of their financial situation,” Marketing Officer Marco Forato told The Press Association. “Although there’s no denying that a lot of people are struggling financially as a result of the recession, workers should only opt out of long-term financial benefits as a last resort. It is vital that employees instead seek to protect themselves and their dependants by having robust financial cover in place.”

Officials say that while the workers may be getting a slight cash boost, they could be laying the groundwork for future financial problems. Not only are they jeopardizing their retirement plans but if they become ill and can’t earn a salary, their dependents will also be in trouble. Research shows that roughly one in three British workers would only be able to survive less than a month on the statutory sick pay which equates to about $100 a week.

Government programs are helping kids get insurance, and not just those in households below the poverty line. The New York Times interviewed Dean McCrea, a 55-year-old widow who lost his job when his employer went out of business. McCrea could no longer afford insurance for him and his 16-year-old son, but recently he was able to get help through a program called Healthy Kids. It’s a state-run health insurance program for middle class families. McCrea was able to get his son insurance for just $38 a month. “A lot of people in my circle, solid middle-class families, are struggling,” McCrea told The New York Times. “The peace of mind that this program has supplied me is not measurable.”

According to the Census Bureau, the number of insured children under the age of 19 was just under 91 percent which is a record high. “To a surprising extent, the government has really stepped up to provide affordable coverage options for middle-class kids, along with their lower-income counterparts,” Jocelyn Guyer, co-executive director of the Center for Children and Families at Georgetown University, told the New York Times. “It’s a success story.”

That means that close to ten percent of children, or seven million, don’t have insurance. But experts say more than  half could qualify for government insurance through programs like Medicaid and CHIP (the Children’s Health Insurance Program). “Our biggest obstacle has been to convince families that don’t qualify for food stamps or other subsidies that they qualify for our program,” Cathy Kaufmann, administrator of the Healthy Kids program in Oregon, told The New York Times. Children in families of four with incomes of up to $44,100 qualify for certain government insurance programs. And if you live in a state like New York where the cost of living is higher, families of four can earn over $88,000 and still qualify.

Eligibility varies greatly depending on which state you live. But in a dozen states, even if you earn too much you still may be able to buy in to to more affordable CHIP policies. Finding out if you qualify is easy. Just visit InsureKidsNow.gov to find out about what’s available in your state. You can also visit the government’s new health insurance website Healthcare.gov to search for child-only policies. Plug in your child’s information and you’ll immediately have access to various policies at different price points so you can make an educated decision about keeping your child insured.

According to an annual survey by J.D. Power and Associates, satisfaction with homeowners insurance companies fell to the lowest level in five years. Tabulated scores came in at an average of 750 on a 1,000-point scale, a 23-point drop compared to 2009 ratings. The US National Homeowners Insurance Study surveys people on policy offerings, price, payment and claims and billing.

The company that came out on top according to those surveyed was Amica Mutual. The company has filled the number one spot for nine consecutive years. Coming in behind Amica are Auto-Owners Insurance, Erie Insurance, and Cincinnati Insurance. “Homeowners insurance policyholders are already price sensitive due to the economy,” Jeremy Bowler, senior director of the insurance practice at J.D. Power and Associates, said in a statement. “Approximately 50% of customers don’t have a clear understanding of how much coverage or what type of coverage they have on their home, and many have erroneously expected their premiums to decrease just as home values have declined since 2008. As a result, many customers believe their policies are not aligned with their property values and express dissatisfaction.”

If you’re looking for ways to be more satisfied with your insurance policy, study officials say to bundle home and auto insurance policies because those surveyed were more satisfied with that scenario.