Insurance Departments

Insurance departments are state-level agencies that regulate and provide oversight of insurance programs.

The purpose of these departments is to protect policyholders, ensure the solvency of insurers, and uphold the laws and regulations governing the insurance industry.

Each state has a department devoted to insurance, most of which are organized under a state secretary of insurance or department of financial services. Insurance departments set and enforce regulations and investigate alleged violations by insurance providers and agents. Each department also reviews and approves rate and form filings submitted by insurance companies.

Insurance departments typically monitor compliance with state and federal laws, conduct financial examinations, and take corrective actions for violations.

They may also offer independent arbitration or mediation services to resolve consumer insurance disputes, provide educational resources for consumers, and inspect insurance companies or other entities to ensure compliance.

Additionally, most states have consumer hotlines or websites to provide assistance to those with questions about their insurance policies.

Stay Home Safe

In addition to their oversight role, many insurance departments maintain an investigative arm or fraud division.

This division is charged with investigating claims of fraud and other insurance-related criminal activities. As they strive to keep the insurance marketplace competitive and efficient, departments may also audit insurance companies or conduct research to evaluate market trends or assess the impact of changes.

The specific type and amount of auto insurance liability limits you are required to carry will vary from state to state.

In general, though, states require minimums for Bodily Injury Liability Coverage, Property Damage Liability Coverage, and Uninsured/Underinsured Motorist Coverage. Some states also require Personal Injury Protection and other types of coverage.

The minimum auto insurance liability limits vary by state, but most states require the following minimums:

Bodily Injury Liability Coverage: $25,000 per person, $50,000 per accident

Property Damage Liability Coverage: $25,000 per accident

Uninsured/Underinsured Motorist Coverage: $25,000 per person, $50,000 per accident

Personal Injury Protection (if required): Varies by state, usually between $10,000-$15,000

We recommend speaking with a local agent or independent broker to determine the exact auto insurance liability limits required by your state.

Delay In Insurance

Navigating Your Health Insurance Delay: What To Do When Your Insurance has Been Delayed

It can be extremely frustrating when you accept a new job only to find that it will take much longer than you anticipated for your health insurance to kick in. This process is often referred to as a health insurance delay. While you wait, you’re responsible for finding alternatives for medical coverage in the interim.

Here are some of the steps you can take to manage a health insurance delay effectively:

1. Review your budget

Before taking on any additional medical expenses, assess what you can afford to pay out of pocket. This could include regular visits for preventive care, any upcoming prescriptions, and any other medical services that may be needed during the health insurance delay. If you need additional funds, contact your bank or look for no- and low-interest credit cards to help cover the cost.

2. Look into your options

Check with your employer to find out what their health insurance policies are and if they have any “gap” coverage options. You may also want to research if the state or federal government offers any special programs that could help you with health insurance and medical bills.

Having the right auto insurance is a necessity for anyone who drives a vehicle, and it’s important to keep up with your policy to make sure it remains valid. Depending on the laws in your state, driving without insurance can result in hefty fines and other consequences.

In most cases, auto insurance is valid for one year, and it must be renewed each year to remain active. This means that you will usually receive a notification from your insurance company reminding you to renew your policy several weeks before it expires.

Most states require auto insurance policies to be renewed at least 30 days prior to expiration, but renewal can be done up to 60 days in advance.

It’s important to be aware of when your auto insurance policy expires and to renew it in a timely manner to avoid any interruption in coverage. Failing to renew your auto insurance can be costly, so it’s best to always stay on top of the expiration date.

When you renew your policy, you may have the opportunity to add or adjust coverage levels if needed.