Megapolis Insurance

PIERRE, S.D. (AP) — People who bought flood insurance at the last minute after learning of plans to release record amounts of water through the Missouri River reservoir system will not have coverage for damage caused by the rising water, a federal official said Tuesday.

Barb Fitzpatrick, a senior flood plain specialist for the Federal Emergency Management Agency, said June 1 is the official start of the flood because that’s when the Garrison Dam in North Dakota began to release more water. Flood insurance underwritten by the federal government does not take effect until 30 days after it’s purchased, so no policies bought after May 2 will cover damage from the high water expected to last for a month or two. That’s the case even if the damage happens 30 or more days after the official start, she said.

Low-lying areas in Bismarck, N.D., and the South Dakota cities of Pierre, Fort Pierre and Dakota Dunes face rising water as the U.S. A Read more…

When you are budgeting for a new car, do you think about how your new wheels will change your auto insurance rate? I have been involved in auto sales, arranging auto loans, and auto insurance for many years. I can’t tell you how many times I have seen someone stretch to make a car payment fit into their budget only to have the cost of car insurance blow that budget to pieces.

It happened to me once with a motorcycle. I called around for quotes, and found what I thought was a great deal. I bought the motorcycle, paid my vehicle insurance, and then got hit with a “we goofed” notice billing me for an additional $2400 per year. I scrambled, found cheaper coverage, and cancelled the policy.

The motorcycle episode taught me three things that have saved my bacon more than once:

1. When you narrow your choice down to two or three cars, call your agent and find out what effect each car will have on your auto insurance premiums.

Read more…

If you have a bill in collections, track down your original creditor to pay your bill and work on improving your credit. When a debt isn’t repaid, it can move from one collection agency to another while employees attempt to collect a portion of the debt. If you need to speak to the original creditor, find out their contact information and make the call. Original creditors may not be able to get the debt back from the collection agency it was sold to, but you can find out how legitimate the debt is by speaking with them.

Difficulty: Moderately Easy

Instructions

1. • 1Check your credit report for a list of your debtors. Contact information, including addresses and phone numbers, is included. You can view a free copy of your credit report once each year at AnnualCreditReport.com.
   • 2Call the creditor. Give your name and information they need to look up your debt.
   • 3Ask if they are the original creditor or a collection agency.

Read more…

Health Savings Accounts are attractive because contributions to these accounts are tax deductible on federal income tax returns. The choice of making Health Savings Account (HSA) deposits deductible on state tax forms is left up to each state. Almost all states have chosen to follow the federal example on this and Wisconsin is the latest state to adopt that legislation beginning with the 2011 tax year.

Individual coverage health plans that can be combined with an HSA have a deductible of at least $1,200. Family HSA plans have deductibles starting at $2,400. These high-deductible plans usually cost much less than co-pay plans, which don’t require policyholders to meet a deductible.

Once Health Savings Accounts are funded, they can be used to cover the deductible. Since HSA contributions are tax deductible, both the premium and tax savings can be channeled into the HSA.

Forty-seven states allow residents to take a state tax deduction for a Health Savings Account.

Read more…