Don't Become a Victim of Identity Theft
Don't Become a Victim of Identity Theft
The fastest growing financial crime in America today without question is identity theft. In their most recently yearly study, Javelin Strategy and Research Center estimated that almost 10 million people were victims of identity theft in 2008, a 22% increase over 2007.
So how can you protect yourself? The first step in avoiding this unsettling crime is to gain an understanding of identity theft. But it is also very important to put protective measures in place, just in case you become a victim.
When an individual wrongfully acquires another person's private information, and fraudulently uses the information for economic gain at the victim's expense, a case of identity theft occurs. An identity thief searches for personal data such as bank account information, social security numbers, or credit card data. The thief uses the information to deplete bank accounts, obtain bank loans, or make thousands of dollars of charges on a victim's credit card. The result can be that victims are left with significant debt, blemished reputations, and scarred credit histories for many years to come.
To avoid this pain, first and foremost use good common sense. Guard all of your personal information, including bank and credit card account numbers and your social security number. Never leave bank deposit tickets lying around for someone else to find. Shred credit card receipts and applications before throwing them away. Protect your driver's license, and don't make obvious choices when setting up account PINs and ID numbers.
As an added safeguard, you may want to consider the possibility of setting up identity theft insurance coverage. If you do become a victim of this insidious crime, this coverage reimburses you for costs incurred to restore your identity and repair your personal credit report. Evaluate your homeowner's insurance policy, as some insurance companies include identity theft protection in your policy. Other insurance companies, like Allstate sell identity theft coverage as an endorsement to homeowner's or renter's insurance policies for an additional $40 per year, or may even market the protection as a stand-alone policy.
If you do become a victim of identity theft, call the bank, credit card company, or agency that is affected by the questionable transaction as soon as possible. Make certain they are aware of exactly what is going on, and that they have taken steps to prevent any further unwanted transactions. Finally, report the crime to the appropriate authorities, and file a report with the local police department and the Federal Trade Commission. A copy of the police report will be necessary to file the claim under your insurance policy for both reimbursement of funds and credit repair.
Need information about ID Theft coverage thru Allstate, please call Khalid Umerani, Agent, NOVA Insurance Group, South Riding, VA (Tel: 703.263.7800)
www.south-riding-insurance.comwww.loudoun-insurance.comLabels: ID Theft, ID Theft Chantilly, ID Theft Fairfax, ID Theft Loudoun County, ID Theft South Riding, Identity Theft
Men vs. Women Drivers
Men vs. Women Drivers: Does Gender Really Matter on the Road?
For years, insurance companies have regularly charged female drivers less for auto insurance coverage than males. Insurance companies claim it’s because women drivers statistically have fewer car crashes. However, no studies have actually proven that there is a difference between men and women’s driving abilities.
Looking at the stats
Over the past ten years or so, male fatalities have outnumbered female fatalities 2-to-1 in car accidents, according to the National Highway Traffic Safety Administration. Men also have a higher rate of collisions that result in just property damage—also a 2-to-1 ratio.
According to the American Insurance Association, men are involved in 50 percent more fatal crashes per 100 million miles driven than females. This divergence is most prominent in drivers in their late teens and early to mid-20’s.
Examining the male crash phenomena
No one can pinpoint exactly why men have more car crashes than women. Many researchers argue nature versus nurture theories. Some researchers blame natural male biochemicals—one study claims that high testosterone levels in men causes them to take more risks behind the wheel. On the other hand, some researchers say that men are products of their culture. These experts say society has taught males to act more competitively in general, which makes them more aggressive drivers on the road. Other studies point out that women are better multi-taskers, which makes them better drivers.
However, many people simply don’t buy into any of these studies. Skeptics say a person’s gender simply cannot predict whether or not they are a safe driver. The National Organization for Women’s Insurance Project points out that men simply have more crashes than women because they drive more miles each year. Because men are on the road more, they expose themselves to a more risk.
The gap narrows
Recent statistics show that the gap is narrowing between men and women crashes. Between 1975 and 2003, female fatalities in car accidents increased 14 percent, while male fatalities dropped by 11 percent.
Some experts say this is simply because women are on the road more these days. On top of that, an increasing number of women are becoming more aggressive on the road. If this trend continues, experts say insurance companies may soon stop taking gender into account as they calculate drivers’ insurance premiums.
A few states lead the way
Despite the latest research, insurance companies in most states continue to use gender as a factor in calculating premiums. Of course, insurers also take other things into account, including annual mileage, the type of car, the person’s previous driving record and even their Zip code (whether they live in the city, the suburbs or a rural area).
However, a handful of states, including California, Connecticut, North Carolina and Pennsylvania, no longer allow insurance companies to use gender as a factor to assess risk and calculate premiums.
Please call Khalid Umerani, Agent (NOVA Insurance Group) at 703-263-7800 to get competitive car insurance quotes, in the Washington DC metro area.
www.south-riding-insurance.comwww.loudoun-insurance.comLabels: 20152 Auto Insurance, 20152 Car Insurance, Auto Insurance in Chantilly / South Riding, Car Insurance in 20151
In the World of Cars, Is Bigger Always Safer?
In the World of Cars, Is Bigger Always Safer?
When it comes to cars, is it true that bigger is always better...and safer? Based on an April 2009 study by the Insurance Institute for Highway Safety (IIHS), the answer to this longstanding question is a resounding yes. The study shows that larger, heavy-duty vehicles are fundamentally safer than smaller, lightweight cars.
Considering recent announcements, this revelation is more important than ever. This May, President Obama unveiled his massive fuel efficiency plan. Under the new standards, auto makers will be ordered to increase the fuel economy of vehicles sold in the U.S. to 35.5 miles per gallon by 2016. This means manufacturers will have to produce smaller, more lightweight, fuel-efficient vehicles.
While supporters of the plan say it will help cut our nation's greenhouse-gas emissions, opponents argue that the mandate will result in thousands more Americans dying or becoming seriously injured in auto accidents. Critics say that the number of auto fatalities could swell if hordes of "unsafe" subcompacts hit the road in coming years.
The physics behind car crashes
Why are bigger cars intrinsically safer? It all comes down to physics. According to the IIHS report, "These tests are about the physics of car crashes, which dictate that very small cars generally can't protect people in crashes as well as bigger, heavier models."
Based on the law of physics, when a large object crashes into a smaller object, the larger object creates a greater impact. This rule holds true for car crashes, as confirmed by the IIHS study.
For this study, the IIHS conducted three front-to-front crash tests, each involving a microcar or minicar colliding with a midsize model from the same manufacturer. The Institute did not use SUVs, pickup trucks or even large cars to pair with the micros and minis in the tests. "The choice of midsize cars reveals how much influence some extra size and weight can have on crash outcomes," the report explains.
Instead, the Institute chose pairs of 2009 models from Daimler, Honda and Toyota because these auto makers have micro and mini models that have earned good frontal crash ratings in barrier tests.
According to the final IIIHS report, "In a collision involving two vehicles that differ in size and weight, the people in the smaller, lighter vehicle will be at a disadvantage. The bigger, heavier vehicle will push the smaller, lighter one backward during the impact. This means there will be less force on the occupants of the heavier vehicle and more on the people in the lighter vehicle. Greater force means greater risk, so the likelihood of injury goes up in the smaller, lighter vehicle."
Real-world car crash statistics confirm this theory. In 2007, the death rate in 1 to 3-year-old minicars involved in multiple-vehicle crashes was nearly twice as high as the rate in large cars.
Good engineering makes a difference
Despite the recent IIHS study, some experts point out that vehicle safety doesn't come down to car size alone. They say that quality engineering and design are more important to vehicle safety than the actual car size. Added safety features, such as front and side airbags, seatbelts with pre-tensioners and force-limiters, rollover prevention mechanisms, head restraints and crash avoidance systems can also greatly improve a vehicle's safety.
Experts also say the size of a vehicle's front end can determine how the car fares in crash. If a lighter vehicle is engineered with a large front end, creating a bigger space between the front of the vehicle and the front seat, the car would be much safer. That's because a car with a large "crush space" decreases the severity of an impact and reduces the force to the car's occupants.
Plus, auto makers can also reduce a vehicle's weight without losing too much structural integrity by using aluminum, titanium or plastic. Unfortunately, most manufacturers steer clear of these materials because they carry a high price tag.
Any questions about Car Insurance, call Khalid Umerani, Agent, NOVA Insurance Group in Chantilly / South Riding, VA at 703.263.7800
www.south-riding-insurance.comwww.loudoun-insurance.comLabels: Chantilly Car Insurance, Fairfax Auto Insurance, loudoun car insurance, South Riding auto insurance
