Monday, November 8, 2010

Insurance Trend

What is insurance? Insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment (Wikipedia).

An insurance analysis showed that the recent trend among health, life, auto and home insurance, Florida residents are second in the country in search of health insurance, second only to Utah. Of course, both places are known to have a large population of retirees; however, a trend is not specific to the age that people are more concerned with personal insurance to secure their belongings, their homes.

As a result of the recent administration, health insurance has perceived an increase, while other insurance, including life insurance, and have seen a decline.

When it comes to car insurance, as progressive companies are aggressively trying to keep existing customers, while market incentives for new customers. One such strategy is the reduction of aggregate discounts and rates and coverage policies for motorcyclists. This attention to cyclists has a correlation with the increasing number of people who sold their cars for motorcycles, which can be less expensive to insure.

The insurance consumers surveys have shown most consumers in auto and homeowners insurance are satisfied with their insurance companies and policies. The study also initiate that most consumers were fulfilled with the experience of buying auto insurance. On the basis of people who have bought car insurance last year, three of every four people who were very satisfied with their experience. This contentment can be traced to the accessibility of the Internet when shopping for insurance from the comfort of home.

While the unemployment rate in Florida is still two digits, and foreclosures are up 15 percent over last year, consumers are financially prudent for management to find ways to ensure the most important things for them. No matter if your health, auto, home or life insurance, smart consumers realize that being without any of these may be more harmful than the required premium.

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