ASJ Insurance & Financial Services Inc. (623) 243-4000

Archives April 2010

New Car and Insurance Costs

Often when potential buyers are shopping around for a new vehicle, they tend to pay attention solely to the price tag instead of the overall package, which of course should include auto insurance.

According to Bankrate.com, the typical factors that are taken into consideration include gas mileage, vehicle size, comfort, and even the type of stereo included in the purchase. The question that is all too often omitted is “what is the cost of insurance?”

Not to mention, a quick call to your local auto insurance agent very well may assist in narrowing your choices. It also may help avoid the aftershock of additional costs once you get home and have already purchased your new vehicle.

Spokesman for the Insurance Institute for Highway Safety, Russ Rader, stresses the impact of make and model of your vehicle on a typical insurance bill. Most people think that only your personal driving record, zip code, and the demographics of the drivers in your household are taken into consideration; however, there are additional factors that are taken into consideration as well, including the exact car you choose to drive.

Insure.com recently conducted a survey to find out what the most expensive, as well as the least expensive cars to insure were and their findings are not entirely shocking.

If you are looking for an all around reliable, four-cylinder sport utility vehicle that is also cheap to insure, than look no further than the Mazda Tribute. This vehicle will only cost you $89.19 per month (on average).

Another incredibly affordable vehicle to insure is the $21,695 price-tagged Hyundai Santa Fe. The annual cost of insurance for this exact car on average is just $832.

Also on the list of low insurance price tags include vehicles made by SCION, Smart Car, Honda, Suzuki, Kia, and Lincoln.

On the contrary, if you happen to have a steady cash flow and are in a position where you can afford expensive insurance, then the Porsche 911 GT2 may be your future vehicle of choice.

Although you should be prepared for an annual insurance bill of nearly $2,943.78, this sleek Porsche tends to still be very approachable and appealing to auto buffs. Its ability to be maneuvered with ease, allows this expensive beauty to still be worth every penny.

Other makers of high-insurance vehicles include Mercedes-Benz, BMW, Audi, and Jaguar.

While Insure.com was creating this survey they also came across another interesting fact. Auto insurance is currently most expensive in the states of Washington, New Jersey and Louisiana.

Their entire study was based around a 40-year-old male driver with a 12 mile commute to work. The quote was factored around a policy with limits of $100,000 for injury liability for one person, $300,000 or all injuries and $50,000 for property damage in case of an accident.

Luckily, for drivers in both Arizona and California we are not among the states with the highest insurance premiums; however, if you are looking for auto insurance in either state please visit ASJ Insurance & Financial Services Inc.’s website www.asjautoinsurance.com today for a quick and easy auto quote or call them at (602) 212-1048 or (877) 275-2201.

ASJ Insurance & Financial Services Inc. represent many reputable insurance companies like The Hartford, MetLife Auto & Home, Travelers, Progressive, Infinity and other companies and are sure to find you coverage that fits your need and budget.

Knowing Your Life Insurance Policy

Not only is having life insurance vital, but knowing the exact details of your policy are also just as imperative. 

For some people such as Joan Settje, the specifics (or non-existence) of her husband’s life insurance plan were not unveiled until after his untimely death at the age of 72.

After her husband Lon Settje retired from his career, he decided to take on a part-time job at the popular convenience store Target near their home in St. Charles, Minnesota. Lon didn’t take on the job for the money; rather, as opportunities to still feel connected to the real world. He enjoyed the customers, the respect, and overall just being helpful in his community.

For over six years, Lon was a signature at the Target Superstore. He wouldn’t work many hours. In fact, during his last year he even cut down to just eight hours per-week.

Regardless, Settje loved his job and enjoyed the wonderful benefits he reaped from working for such a substantial company like Target.

After passing away in September, Lon’s wife Joan received a letter from Target with information regarding his 401(k) plan, pension, and other benefits including his life insurance plan.

Because of his limited hours, the company explained that Lon was enrolled in a basic company life insurance plan that would provide his wife with a year’s worth of Lon’s salary. 

Target urged Joan to call Minnesota Life Insurance to begin the process of initiating a claim. Unfortunately for Joan, it wasn’t that easy. 

During that exact phone call Joan was informed that Target had not submitted any documents in order to process her late husband’s claim. When Joan confronted Target about the issue, they told her that a mistake had been made and her husband actually never had a life insurance policy through their company to begin with.

Needless to say, after dealing with the death of her husband and all of the grief that already comes with such a tragic event, this was the last bit of information Joan wanted to hear. 

Joan decided to write a letter to Target in order to find out why she was ever told her husband had life insurance in the first place. Target was very passive about the issue, by simply writing back weeks later with a blank complaint form, basically telling Joan to take her problem elsewhere.

After being dismissed by Target, Joan decided to write in to “What’s Your Problem?” At this time she was unaware of the exact price of her husband’s policy, but that was not even the main source of Joan’s frustration. 

When she found out that it had in fact been a minimal amount, Joan was even more frustrated.

“That’s part of what makes me so darn mad, because he worked overtime a lot… he came in early when they called him and stayed late when they needed him,” said Settje. So mostly, this was a respect issue for Joan.

“The last call I made to them they just said, ‘He didn’t have one,’ and hung up on me,” she said. 

“The Problem Solver”, an employee at “What’s Your Problem”, contacted Target spokeswoman Kay Rubbelke, who simply stated she couldn’t talk about the issue, but promised to look into it.

As promised, Target contacted Settje saying that because her husband worked under 20 hours in the weeks leading up to his death, they were forced to drop his policy.

Settje felt that this didn’t sound right to her, but was through with fighting the issue. Luckily, “The Problem Solver” was not.

The company contacted Target again, asking why the original letter was sent in the first place stating that Lon did have life insurance if he really did not. “The Problem Solver” then faxed a copy to Rubbelke.

Within hours, Joan Settje received a very uplifting phone call saying that the company had changed its mind. 

“They said they looked into it further and, yes, he had been enrolled in a company policy,” Settje said. “They apologized for not getting back to me and straightening out this matter. They said they were glad I contacted you because it brought to light a lot of problems they were having in the office.”

The Target spokespeople also told Joan that her husband’s annual salary for his final year was $3,600, but they would send her a check for a solid $4,000. When the check arrived it was made out for $4,079.11 ($4,000 plus interest). Also attached, was a letter of apology.

“All these months, I was just going to let it go,” she said. “I just can’t believe it.”

Lesson learned? KNOW YOUR POLICY. You don’t want to end up in a situation similar to Joan’s, especially if it is for a significant-life changing amount of money.

If you do not have life insurance currently set up for you and your family, now is the perfect time. If you live in the states of Arizona or California and are looking for affordable life insurance please contact ASJ Insurance & Financial Services Inc. at (602) 212-1048 or (877) 275-2201 or visit their website www.asjtermlifeinsurance.com to get an instant accurate quote for your needs. ASJ Insurance & Financial Services Inc. represent many nationally reputed insurance companies like The Hartford, MetLife, ING, Lincoln Benefit Life, Lincoln National Life, Ohio National and many other companies.

Health Insurance Reforms on the way….

After heavy anticipation from residents nationwide, the long-awaited healthcare bill was finally voted on. A national effort has been induced in order to put a spotlight on the numerous Americans who are currently living without any type of health insurance whatsoever.

Even those who are not unemployed including Hazel Layne, who is actually a health caregiver for Alzheimer patients at an assisted living facility in West Virginia, is forced to go visit the West Virginia Health Right Center when she is ill because her employer does not offer insurance to its employers who don’t get paid at least a predetermined amount.

“They offer insurance, but I don’t get paid enough to get their insurance,” said Layne.

Layne is just one of nearly 19,000 residents of West Virginia who receive treatment at the free clinic each year. An overwhelming 83% of these people actually have jobs; however, are not offered group health insurance benefit.

The executive director of the West Virginia Health Right Clinic, Pat White, considers these particular patients to be “the working poor”. “They are people that are at fast food restaurants, that are mowing lawns, that are cleaning offices, there are many of them having two or three jobs, but just not being able to afford, or not being offered, health care insurance by their employer.”

White feels that the country can no longer handle the unbelievably high number of uninsured citizens since that number is continuing to grow at such a shocking rate. Not to mention, the fact that the price of typical health insurance has continued to rise every year.

White is among the people who feel that something needs to be done immediately and stresses that this is a national issue and not just a problem in the state of West Virginia.

“They live sicker, and they die sooner than the rest of the population that has health insurance coverage,” says White.

For those living through this particular predicament daily such as Layne, they believe that anyone who works and pays taxes should be able to get affordable health insurance. She sums up the national debate this way.

According to Gavin Magor, a Ratings Senior Insurance Analyst, there are presently 46 million Americans living uninsured. More than 9 million of these people happen to be children. The worst part is that more than eight out of 10 of these people come from working families.

Luckily, for all Americans the issue of health care reform has been a prime subject in recent weeks and hopefully pushed through the congress. Until we as a country reach such a life changing decision, it is vital to know that you have other options. There is still affordable health care insurance out there.

If you live in the states of Arizona or California and are currently seeking out health care insurance please call and speak to someone at ASJ Insurance & Financial Services Inc. today, or visit their website at http://www.asjhealthinsuranceexchange.com/. Their helpful representatives are more than willing to help you and your family find a suitable health insurance plan that works for you and is affordable.

States find ways to deal with Uninsured Drivers

Recently the state of Oklahoma implemented a bill that will eventually result in fewer automobiles on the road. The bill forbids any vehicle to be driven without insurance, which is the same in every state in the United States. The difference? Oklahoma has made it a rule that they are allowed to automatically tow away any vehicle without proper insurance.

After many voters requesting that a bill such as this be passed, state Representative, Steve Martin, finally stepped forward and presented the bill hoping to take all uninsured drivers off the road.

This bill comes shortly after the Oklahoma Department of Public Safety put instant auto insurance verification systems into place. The new systems make it possible for police officers to verify whether or not you have legit auto insurance in less than eight seconds. All they have to do is check your license tag number. It’s as easy as that. Although these verification systems have been in place for several months, but prior to this bill, law enforcement officials could not seize a vehicle that was uninsured. Bottom line: If you are driving in the state of Oklahoma without auto insurance and get pulled over, you better have money to accommodate a pricey cab ride home.

This comes as great news to the millions of drivers out there who are insured to see those who do not taken off the streets. When an automobile accident occurs involving an uninsured driver it affects both drivers negatively; nonetheless, is an easily avoidable hassle.

With such positive feedback, do not be surprised if other states follow Oklahoma’s footsteps and begin to enforce similar laws.

So what can you as an individual motorist do to make sure your vehicle doesn’t get towed and impounded upon being pulled over? It’s simple. Get auto insurance and make your monthly payments, or be prepared to pay the consequences that come along with driving without insurance.

It is very easy to find reasonable auto coverage these days with all of the instant auto insurance quote systems available online. There are endless ways to keep your monthly premiums down as well and driving uninsured is definitely not one of them. In fact, in the long run you will end up with way more expenses compared to a low monthly rate. In current times, it is impossible to hide from the law if you are driving uninsured.

If you are in the states of Arizona or California and are without adequate auto insurance, or choose to see if you can save on your auto insurance premium, feel free to inquire about ASJ Insurance & Financial Services Inc. They represent many great companies like The Hartford, MetLife Auto & Home, Traveler’s, Progressive, Infinity and many other companies. You can visit their website at http://www.asjautoinsurance.com where you can get an instant quote from Progressive, or give them a call at (602) 212-1048 or toll free (877) 275-2201 to get a no obligation customized quote to fit your budget and needs.

MetLife Buys AIG’s Life Operation

A huge movement occurred for life insurance on Sunday, A.I.G. agreed to sell its unit of American Life Insurance to MetLife for an astounding $15.5 billion, $6.8 of which will be in cash. This is the second major transaction in a one week span for the company that is still desperately trying to dig itself out of substantial debt.

Just last week A.I.G. sold American International Assurance to Britain’s Prudential P.K.C. for $35.5 billion. The sales together brought in a combined $51 billion for the struggling company.

For the MetLife move alone, A.I.G. brought in $6.8 billion in cash. The rest will remain in a combination of both common and preferred stock shares, which include the mandatory convertible preferred stock.

A.I.G. has stated that the first 9 billion from the sale will go directly towards the redemption of its preferred shares in Alico, which is held by the Federal Reserve Bank of New York. The rest of the money will be used to lower the New York Fed’s lending commitment to A.I.G.

In the early days, A.I.G. will still own an 8 percent stake in MetLife; however, after the stocks are converted from preferred to common stake it will end up being slightly over 20 percent.

The deal between A.I.G. and MetLife will be finalized by the end of 2010. MetLife is hoping that this monumental move will help launch its stock from 45 cents a share to 55 cents by the end of next year.

Both companies stated that this deal has been in the works for well over a year; however, not all is said and done for the still unsteady A.I.G. Still to be solved is exactly how A.I.G. will repay the remainder of its bailout, which includes the nearly 80 percent currently being held by the government.

Some financial analysts suggest that converting the government’s preferred shares into common stock that can be sold over a period of time (either through direct conversion or through replacement with newly issued shares) is their best bet.

What the future holds for A.I.G. is nearly impossible to say. After undergoing a tremendous liquidity crisis back in September of 2008, the company has had a rather difficult time getting back on its feet; however, hopefully these two large sales will help boost the one-time power company in the right direction.

Teenager’s and Auto Insurance

One of the most stressful moments in any parent of a teenager’s life comes around the time they turn sixteen and are able to get their drivers license. Not only do they have to worry about the financial burden of purchasing a vehicle for their young driver, but also the safety of their child.

Another major, yet essential hassle both the parents and teenager have to face is finding auto insurance. Unlike regular auto insurance policies, those designed for teenagers tend to be more expensive.

This comes from a variety of reasons including the most obvious statistic – that teenage drivers aren’t necessarily the best out there. In fact, according to the Insurance Institute for Highway Safety (IIHS), 16-year-olds get into accidents almost 6 times more often than drivers between the ages of 30 and 59. This being said, car insurance premiums are much higher for this age group because the higher the risk one is, the higher the cost of their auto insurance premium.

However, there are definitely things a teenager can do to keep their auto insurance premiums low by attending safety programs or classes to learn safe driving habits.

For starters, teach your teen the traffic laws and make sure that they follow them. The easiest way to keep your car insurance the lowest possible is by have a clean driving record.

Also for parents, make sure to set a good example for your young drivers. If you exceed the speed limit, tailgate, administer road rage, and then you are just showing your teenagers that this is the proper way to drive. Make sure to practice your safest driving tactics when you are teaching your teen to drive.

It is also a smart idea to put your teen under your policy, rather than getting an individual policy for them. By putting them on your auto insurance policy as an additional driver, they could be treated as an occasional driver and therefore have a lower premium.

You may want to set limits as to when, where, how, and with whom your teen is allowed to drive. Some parents set limits on the number of passengers allowed in the car at any given time, after all loud noises such as music, cell phones, and multi-person conversations can create serious distractions.

Speaking of cell phones, you should enforce a no cell phone zone in your teen’s vehicle. Talking and texting while driving is one of the most dangerous distractions for any driver on the road and could have very serious results.

Other rules you may want to enforce in order to keep your teen as safe as possible on the road include: limiting your teen’s driving distances, consider not allowing your teen to drive during high-risk accident times such as weekends, and establish a curfew.

If you are a resident of Arizona or California and have questions regarding auto insurance or are looking to get a policy for your teenager please visit ASJ Insurance & Financial Services Inc.’s website today www.asjinsurance.com  or give them a call at (602) 212-1048 or toll free (877) 275-2201.

ASJ Insurance & Financial Services Inc. represents many reputable insurance companies like The Hartford, MetLife Auto & Home, Progressive, Infinity, Travelers and many other companies and they could do all the shopping and comparisons and get you the best policy.