Archive for April, 2010
You are currently browsing the CSI Blogs about Personal Insurance blog archives for April, 2010.
19
Apr
2010
Tips to Avoid Identity Fraud
A recent Federal Trade Commission (FTC) study found that 8.3 million Americans were the victims of identity theft in 2005, and the number is rising. In at least half of the incidents, thieves obtained goods or services worth $500 or less; however in 10% of cases, thieves got at least $6,000 worth of goods or services.
56% of all victims were unable to provide any information on how their personal information was stolen. Identity thieves use personal information to impersonate a victim, stealing from bank accounts, establishing phony insurance policies, opening unauthorized credit cards or obtaining unauthorized bank loans.
Use of stolen credit card and debit card numbers is among the most common forms of identity theft. Some schemes use electronic means, including online scams like “phishing,” while others might use more old-fashioned methods, such as “dumpster diving”—rooting around in people’s garbage to collect financial information.
The advent of new, “no-swipe” credit cards that transmit account and user information through radio frequency identification may make it possible, in some cases, for identity thieves to use a simple electronic device to capture the information.
Victims of identity theft are often left unable to use existing credit or obtain a new loan, harassed by debt collectors, are subjects of criminal investigations or civil suits and in some instances arrested.
Here are some tips to avoid identity fraud:
- Keep the amount of personal information in your purse or wallet to the bare minimum. Avoid carrying additional credit cards, your social security card or passport unless absolutely necessary.
- Guard your credit card when making purchases. Shield your hand when using ATM machines or making long distance phone calls with phone cards. Don’t fall prey to “shoulder surfers” who may be nearby.
- Always take credit card or ATM receipts. Don’t throw them into public trash containers, leave them on the counter or put them in your shopping bag where they can easily fall out or get stolen.
- Don’t give out personal information. Whether on the phone, through the mail or over the Internet, don’t give out any personal information unless you have initiated the contact or are sure you know who you are dealing with and that they have a secure line.
- Proceed with caution when shopping online. Make sure that you are buying from a reputable retailer with a secure network.
- Monitor your accounts. Don’t rely on your credit card company or bank to alert you of suspicious activity. Carefully monitor your bank and credit card statements to make sure all transactions are accurate. If you suspect a problem, contact your credit card company or bank immediately.
- Order a copy of your credit report from each of the three major credit bureaus. A new law that took effect December 1, 2004, entitles you to one free credit report per year. Your credit report contains information on where you work and live, the credit accounts that have been opened in your name, how you pay your bills and whether you’ve been sued, arrested or filed for bankruptcy. Make sure it’s accurate and includes only those activities you’ve authorized.
- Place passwords on your credit card, bank and phone accounts. Avoid using easily available information like your mother’s maiden name, your birth date, any part of your Social Security number or phone number, or any series of consecutive numbers. If you suspect a problem with your credit card, change your password.
- Shred any documents containing personal information such as credit card numbers, bank statements, charge receipts or credit card applications, before disposing of them.
CSI only partners with insurance companies that include Identity Fraud Coverage as part of their Homeowners Policy Forms. Contact us today to review your current insurance program.
15
Apr
2010
5 Best Ways to Maintain your Vehicle
Auto maintenance is such an important part to extending the life of your car. These five steps are easily avoidable, but equally easy to tackle. Don’t avoid. Tackle!
1. Check Your Brakes – common signs of break problems include a high-pitched screeching sound when applied, lack of appropriate response, a pedal that “sinks” towards the floor, vibration on the brake pedal or grinding metallic sound. If you experience any of these signs……it’s definitely time for a trip to the auto shop.
2. Top Up “Vital Fluids” – the following should be monitored and topped up on a regular basis: engine oil; transmission fluid; engine coolant; power steering fluid; brake fluid; and windshield washer fluid.
3. Replace Shocks and Struts – Ensuring your vehicle has adequate shocks and struts will increase your vehicle’s safety and performance. Worn shocks and struts can cause uneven tire wear, damage suspension components, and cause unusual drift and sway to your vehicle.
4. Change your Tires – It is important that winter tires be replaced with all-season tires in the spring, as the rubber compound is different and performs differently in warmer temperatures. Driving on winter tires throughout the summer is hard on them and will decrease their lifespan.
5. Oil/Air Filter Change – Your car’s filters have a significant impact on engine life and performance – they also have an effect on fuel consumption and emissions. While the oil filter’s job is to remove oil contaminants, the air filter captures airborne contaminants, like bugs and dirt, preventing them from entering your engine. Left unchanged, dirty air and oil filters can lead to poor acceleration, lower gas mileage, poor engine performance and serious repairs.
If these tips have you thinking about auto insurance, you’ve come to the right place! We can help!
2
Apr
2010
Lapse in National Flood Insurance Program
It’s hard to believe the US Senate adjourned without extending the National Flood Insurance Program, which expired on March 28th. Apparently efforts to reach a bipartisan agreement between the House and Senate failed over a broader political debate on how to pay for the larger bill and the federal deficit. Did they realize that this indecision would wreak havoc in the real estate market? Thankfully as of March 30th three of the nation’s largest lending authorities have issued guidance to administer the federal flood insurance regulations during the current NFIP lapse in Authority……..allowing (in most cases) loan closings to still occur during this hiatus. A procedural motion has been filed in the Senate that will set up a vote the week of the 12th. Among other interests, it goes without saying that it the real estate world, both personal and professional, is hoping for a swift resolution to this lapse. Hopefully it’s all solved before the next recess. If you have any questions about coverage or how this might effect you, visit our Flood Insurance page.