Press Release 2007-02 Auto Insurance Premium Comparison Illustrates Savings Regular bus riders can save money on auto insurance.

NEW AGENCY


Arizona Department of Insurance
100 North 15th Avenue, Suite 261

Phoenix, AZ  85007-2630


Starting July 1, 2020, we became the
Department of Insurance and Financial Institutions (DIFI).


Media Contact: Erin H. Klug Public Information Officer (602) 364-3471

For Immediate Release March 22, 2007

The Arizona Department of Insurance (ADOI) released the latest edition of its Automobile Insurance Premium Comparison to aid consumers with comparison shopping for auto insurance. The publication contains valuable information and price comparisons, including premium quotes from 75 insurance companies for a dozen different driver scenarios, including a driver who takes the bus to and from work every day.

In particular, this free booklet contains premium quotes for 12 hypothetical drivers ranging in age from 18 to 81, with varied driving records and vehicle use, residing in 10 different Arizona cities. The comparison highlights an advantage for those who significantly reduce the miles they drive:  on average, insurers offered a $94 discount for Phoenix residents who opted to take the bus to work—although carpooling or other alternate means of transportation could have the same benefit.

“At least 36 insurers offer discounts to their customers who significantly reduce their annual mileage by taking the bus to work every day,” said Christina Urias, Insurance Director. “There are more reasons than ever to give the bus a try— help reduce pollution, avoid the stress of traffic, and save money on your auto insurance!”

 

The vast differences in premium quotes in the table below illustrate how it “pays to shop around” for auto insurance. Consider this hypothetical applicant:

Married couple; age 42; each drives 15 miles each way to work, has a clean driving record for the last three years and a median (average) credit score; husband drives a 2004 Ford Explorer, 4X4, four-door, Sport Trac; wife drives a 2005 Ford Taurus SEL, four-door sedan, automatic. Coverages & Limits: Combined single limit liability of $40,000 or split limits of $15,000/$30,000 BI and $10,000 PD; medical payments of $5,000; UM and UIM Limits same as liability; $250 deductible comprehensive; $500 deductible collision.

 

Six month premium quotes for above applicant:

Phoenix (85053):        $585 to $4,216

Casa Grande (85222):  $621 to $3,563

Tucson (85719):        $576 to $3,660

Flagstaff (86001):           $485 to $3,841

Glendale (85301):       $692 to $3,798

Nogales (85621):           $500 to $4,733

Scottsdale (85257):  $611 to $3,280

Safford (85546):            $494 to $4,733

Mesa (85202):            $647 to $4,094

Yuma (85364):               $570 to $3,313

 

 

“One of the best ways to save money on your auto insurance is to shop around and take advantage of the competition between the 120+ auto insurance companies doing business in Arizona,” said Urias. “The Automobile Insurance Premium Comparison provides information that can help you make the best choice for your needs.”

The Automobile Insurance Premium Comparison offers other possible money saving tips:

  • Raise your deductible
  • Ask about all available discounts
  • Keep your driving record clean
  • Reduce the miles you drive
  • Install certain anti-theft devices
  • Improve your credit
  • Drive “safe” vehicles
  • Update coverages

How to Use the Automobile Insurance Premium Comparison

Find the hypothetical driver that most closely matches your circumstances and pick the city or zip code closest to your residence. While actual rates will depend on an applicant’s specific situation, the Automobile Insurance Premium Comparison will give you a good  idea  of  how different insurers price a policy for a similarly situated driver.

The publication also includes a summary and explanation of the different kinds of auto insurance coverage available.  Insurance policies are complex  legal  documents, often difficult to understand, and it is easier to compare insurance products when you are familiar with the various policy features. This publication can help.

The Automobile Insurance Premium  Comparison also provides ‘customer satisfaction’ information in the form of insurer complaint ratios,1 representing the total number of written complaints the  Department has  received for  each 1,000 policy exposures an insurer has in force in Arizona.

When switching insurers…

Call your insurance representative today to ask if you qualify for Arizona law limits an insurer’s ability to cancel or non-renew an auto insurance policy, however, consumers should be aware that purchasing a new auto insurance policy, or switching to a new insurance company, allows your new auto insurer to cancel the policy for any reason2 within the first 60 days after the new policy’s effective date.  Therefore, an accurate, comprehensive evaluation of coverage eligibility and premium rates is essential before making your decision.

To obtain free auto insurance publications, call or visit the Arizona Department of Insurance: (602) 364-2499, or (800) 325-2548 outside Phoenix, or www.id.state.az.us.

Call your insurance representative
today to ask if you qualify for
discounts!
If you ride the bus, check out the
condensed list of insurers that offer
reduced-mileage discounts at
http://phoenix.gov/PUBLICTRANSIT/index.html.


For more information about bus trip
planning, please visit
www.valleymetro.org.

1 Complaint data contained in this publication does not reflect the Department’s determination of the merits of each
complaint.
2 Regardless, insurers may not cancel because of the location of residence, age, race, color, religion, sex, national origin or
ancestry of an insured.

Period: 
2007
Priority: 
02
Insurers Offering Individual Health Insurance in Arizona

Lists insurance companies that are offering health insurance to individuals and families in Arizona in 2020.  Open enrollment starts November 1st and now runs through December 17th, 2019.  Individuals can start shopping for coverage now at healthcare.gov or cuidadodesalud.gov (Spanish)

Notice of Proposed Rulemaking - Corporate Governance Annual Disclosure Model Regulation In 2019, the Arizona Legislature adopted the NAIC Corporate Governance Annual Disclosure Model Act at Arizona Revised Statutes (“ARS”) by enacting the Corporate Governance Act at Title 20, Chapter 2, Article 16 (Laws 2019, 1st Reg. Sess., Ch. 180, § 1).   The Department of Insurance (“Department”) seeks to adopt the correlate Corporate Governance Annual Disclosure Model Regulation.  ARS § 20-492.02 allows the Department to adopt rules to carry out the Act upon notice and an opportunity to be heard.  The Legislature has exempted the Department from Title 41, Chapter 6 for one year after the effective date of the Act.  (Laws 2019, 1st Reg. Sess., Ch. 180, § 2.)
Arizona's Surprise Bill Resolution Report for 2019

As shown in the attached report prepared pursuant to A.R.S. § 20-3118(A), the Department of Insurance received 91 requests for dispute resolution in Calendar Year 2019.  Of those, 53 have been resolved or closed, and health plan enrollees saved $41,538 by submitting their surprise bills for resolution.  

Not all health care bills qualify for the surprise bill resolution process.  The Department's Suprise Out-of-network Billing Dispute Resolution website (https://insurance.az.gov/soonbdr, and especially the section entitled, "I got a surprise bill. Can I submit a request for arbitration?") lists conditions when a health care bill may not qualify under Arizona law for the dispute resolution process.  But for those that do, the enrollee will only be responsible for paying the enrollee's cost-sharing amounts (copay, coinsurance and deductible) if the enrollee provides information the Department needs, and participates in an informal settlement teleconference with the health care insurer and the health care provider.

Fire Readiness and Your Insurance Coverage

Complete three steps to be prepared

STEP ONE: Inventory your contents. 
Making a record of what you have provides two major benefits.  First, it could help you estimate the cost of replacing your contents, which you could use to make sure you have enough insurance coverage.  Second, it will help you identify missing or destroyed items if you need to file an insurance claim. Keep your inventory records in a safe place outside your home, such as a safe deposit box at a bank, or in a secure online location. 

  • The National Association of Insurance Commissioners (NAIC) has a free app called, “MyHome Scr.APP.book,” available from Google Play and from the Apple App Store, which can help you keep track of your personal property. 
  • The Insurance Information Institute provides advice that can make creating a home inventory easier (https://www.iii.org/article/how-create-home-inventory).

STEP TWO: Understand what your homeowners’ insurance policy covers.
If you do not have your policy on hand, get a copy from your insurance company or insurance agent. Then, make sure your policy provides enough coverage for your dwelling, contents and additional living expenses.

  • Dwelling Coverage:  This pays to reconstruct your home, from ground up if necessary.  It does not include the cost of the land on which your home sits because you will still have that, but it should include the cost to remove a destroyed structure and replace it a home that is similar to what you had prior to the fire.
  • Contents Coverage:  This pays to repair or replace your personal belongings. Your policy may provide contents coverage based on a set percentage of your dwelling coverage, but you can pay for more contents coverage if you think you need it. 
    • Check to see if your coverage will pay “actual cash value” or “replacement cost.”  Actual cash value (ACV) means what an item was worth when it was destroyed based on its initial cost minus depreciation or loss in value due to its age, condition and wear-and-tear.  Replacement cost (RC) means the cost to replace or repair damaged or destroyed property with materials of “like kind and quality”. Claims for damaged or destroyed items will initially be paid based on the ACV of the item.  When the item is replaced, a copy of the receipt must be provided to the insurance company to obtain payment of the balance owed.  Many policies require the damaged items to be replaced within six (6) months.
    • If you have expensive items, such as artwork, jewelry or computers, you can purchase or increase “scheduled” property coverage to make sure you have sufficient coverage for those items.
  • Additional Living Expense (a.k.a. Loss of Use) Coverage. This pays additional costs you may resulting from the property damage.  For example, if you are not able to live in your home, your policy may cover the costs of lodging and food, boarding your pets, etc.

Importantly, insurance policies are often lengthy, detailed documents.  Do not hesitate to contact your agent or insurance company representative if you have any questions. 

STEP THREE: Minimize your fire risk.
Periodically inspect your home for overloaded power strips, damaged electrical cords or other potential fire hazards.  Keep vegetation and combustible materials away from your home.  If you are in an area that is at higher risk for wildfire, follow “Avoiding Wildfire Damage” guidelines published by the Federal Emergency Management Agency (https://www.fema.gov/pdf/hazard/wildfire/wdfrdam.pdf). 

Remain organized and keep good records

If you are the victim of a fire, remaining organized after an event can be difficult, but it is essential so that you can receive the benefits that your insurance coverage provides.

  • Keep all receipts for living expenses (housing, food, etc.) and for all items that you replace or repair.  Insurance companies may require that you submit original receipts. You should either copy, scan or take clear photos of receipts to provide yourself a backup. 
  • Take photos of your property and the damage.
  • Keep records of all your conversations, emails and letters about your claim with your insurance company and agent.  Take notes of conversations, documenting who you talked to, when you talked to them and what you were told. When possible, send an e-mail message to the person with whom you had the conversation to confirm your understanding of what you were told.
  • Do not throw away or destroy damaged property until your insurer inspects the property and tells you in writing/e-mail that you can do so.
  • Take an inventory of the damaged contents.  If you have an inventory from before the fire, use it to help identify items that were damaged/destroyed. 
  • When the insurer inspects the damage, do a complete walkthrough of your property and point out any issues or concerns you have.
  • When beginning the repair process, get multiple repair estimates from licensed contractors (look up records on the Arizona Registrar of Contractors “Contractor Search” page at https://roc.az.gov/contractor-search) with good reputations (look up records on the Better Business Bureau website at https://www.bbb.org).
  • Don’t delay.  Insurance policies generally have restrictions on how long after a fire you can file claims.

Persons with disabilities may request materials in an alternative format by contacting our Americans with Disabilities Act Coordinator at (602) 364-0108. 

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