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Few Americans Spent Less on Insurance Over Past Year

Only 7% of Americans Spent Less on Insurance Over Past Year

NEW YORK, Jan. 14, 2013, Thirty-seven percent of Americans spent more on insurance over the past year while only 7% spent less, according to new research published today by Bankrate.com (NYSE: RATE). The remaining respondents either spent about the same (52%) or didn’t know/refused to answer (4%).

Of those who spent more, 62% said their spending went up because of rising premiums. The next most popular response was because they bought a new home, car, boat or recreational vehicle (12%). The results reflect Americans’ total spending on all types of insurance (auto, homeowners, renters, health, life, etc.).

“We continue to view rising expenses and stagnant wages as a key financial hurdle for American households,” said Doug Whiteman , insurance analyst, Bankrate.com. “But consumers shouldn’t accept rising insurance premiums without a fight. Compare quotes from at least three other companies, investigate all possible discounts and don’t be afraid to ask your current insurer for a discount. You may be able to get a better deal.”

The new survey was conducted by Princeton Survey Research Associates International (PSRAI) and can be seen in its entirety here:

http://www.bankrate.com/finance/insurance/missing-out-on-insurance-savings.aspx

PSRAI obtained telephone interviews with a nationally representative sample of 1,003 adults living in the continental United States. Telephone interviews were conducted by landline (501) and cell phone (502, including 241 without a landline phone). Interviews were done in English by Princeton Data Source from January 3-6, 2013. Statistical results are weighted to correct known demographic discrepancies. The margin of sampling error for the complete set of weighted data is plus or minus 3.6 percentage points.

About Bankrate, Inc.

Bankrate is a leading publisher, aggregator, and distributor of personal finance content on the Internet. Bankrate provides consumers with proprietary, fully researched, comprehensive, independent and objective personal finance editorial content across multiple vertical categories including mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes. The Bankrate network includes Bankrate.com, our flagship website, and other owned and operated personal finance websites, including CreditCards.com, Interest.com, Bankaholic.com, Mortgage-calc.com, CreditCardGuide.com, Nationwide Card Services, InsuranceQuotes.com, CarInsuranceQuotes.com, InsureMe, Bankrate.com.cn, CreditCards.ca, NetQuote.com, and CD.com. Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of nearly 600 local markets in all 50 U.S. states, Bankrate generates over 172,000 distinct rate tables capturing on average over three million pieces of information daily. Bankrate develops and provides web services to over 80 co-branded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the Internet such as Yahoo!, AOL, CNBC, and Bloomberg. In addition, Bankrate licenses editorial content to over 500 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times, The Los Angeles Times, and The Boston Globe.

For more information:

Ted Rossman
Public Relations Manager
Bankrate, Inc.
ted.rossman@bankrate.com
(917) 368-8635

www.bankrate.com

SOURCE: Bankrate, Inc.

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Finance Information Money Personal Finance Products and Services Real Estate Wealth

Residential Real Estate Contractor Mistakes

Contractor Mistakes

NEW YORK, Jan. 11, 2013, Your Contractor Did What?! 4 Ways to Make Sure Your Home Renovations Aren’t a Disaster

 

According to the experts on RealtyPin.com, the right home renovations can make or break the time you spend in your home. They can also make or break the time it takes to sell your home. However, you can’t end up with the right finished product unless you hire the right contractor. That means you’ve got to avoid these major mistakes:

Grading the 2012 Housing Market

1. Picking a contractor based on price
Yes, I know you want to save some money, but the last thing you should want is for your home to look like a corner-cutting haven. It’s one thing to get a good deal. However, a contractor that offers prices that are too good to be true usually does so for a reason – and it’s not a good one. Think about it – if your contractor is offering you a price that’s far less than what everyone else is offering, why? How is he going to make up the difference? By using lower-quality materials? Doing the work faster and, thus, upping the chances of making sloppy mistakes?

Renovation advice: The Top 4 Things Experience Can Teach You in a Home Renovation

2. Not checking to see if your contractor is insured
Most homeowners assume that because their contractor “looks” professional, he must be insured. Boy, is that a risky game! If your contractor isn’t insured and something goes wrong (like if one of the employees gets injured while working on your project), you could be liable for it. Do you want to risk being sued because you didn’t think to ask if your contractor was insured before the work began? I didn’t think so!

Renovation tips: Why “Invisible Renovations” Aren’t Good Enough

3. Not getting a written contract
A good contractor will put everything in writing – including a detailed description of your entire project, approximate completion dates, a payment schedule, and even a list of materials (especially if it’s high-end stuff). That way, there will be no confusion along the way and no risk for anyone going back on their word.

Browse homes for sale in: San Diego Phoenix San Antonio Dallas San Jose Miami

4. Making the final payment before the work is finished
No matter how great your contractor seems, never ever hand over the last check before the work is finished – including all of the clean-up. After all, if everything has been paid for, what incentive does your contractor have to finish the job?! In fact, when you and your contractor are drawing up your contract, make sure to specify that the final payment will not be made until everything is complete and your home is completely back to normal. That means that all inspections have been passed, all dumpsters have been removed, and everything else has been cleaned up and your home is ready to show off to the world. Otherwise, your project may never end!

Looking for a new home for sale? Visit Realtypin.com

Media Contact: James Paffrath , RealtyPin.com, 1-(866) 960-8649, james@realtypin.com

SOURCE: RealtyPin.com

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Finance Life Insurance Personal Finance Products and Services

Life Insurance Necessity Concerns Financial Experts

Extravagance Over Necessity Concerns Financial Experts

LONDON, January 11, 2013,

A lot of people live under the illusion that life insurance is an expensive luxury that saps funds from other more pressing purchases, although it has recently come to light that members of the public are still spending large sums of money each year on holidays, fashion, style, food and drink, entertainment and technology.

It’s only natural that people’s priorities fluctuate and vary in a changing world, but experts are concerned that life insurance should be seen as a luxury rather than an essential when so many of the perceived essentials might just as easily be considered luxury items.

In a few weeks’ time, life insurance premiums will rise in line with the EU Gender Directive but until then members of the public may be able to take advantage of much more favourable rates. The date the new strategy comes into effect is December 21st and countless people have already contacted specialists like Lifebroker in order to get a policy sorted out in good time.

The team at Lifebroker is committed to finding the best deals on life insurance for its customers and now is definitely a crucial time for reassessing where the genuine priorities lie. Specialists are encouraging households to ask themselves whether they couldn’t afford life insurance simply by saving a little money on the luxuries here and there.

Financial advisers recognise that life insurance is an important part of protecting the family. A life insurance policy ensures that debts and mortgage repayments can be addressed when the policy holder dies, meaning that dependents are shielded from having to pick up the pieces. Specialists also stress that life insurance is actually a cheap and fundamental part of life’s administration.

This is something that the professionals are always keen to convey to their customers and the EU Gender Directive simply adds a greater sense of urgency to the situation, giving members of the public a very real time scale in terms of making savings on a real life essential.

SOURCE: Lifebroker

 

 

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Personal Finance Taxes

New CouponCabin.com Survey Reveals The Cost of Being Single

New CouponCabin.com Survey Reveals The Cost of Being Single

–Forty-Two Percent of Single U.S. Adults Feel More Financially Strained Than Married Peers–

  • Singles Report They Pay More in Taxes and Spend More on      Social Obligations Than Married Peers
  • Marrieds Report They Have Higher Household Expenses and      Less Workplace Flexibility Than Single Peers

WHITING, Ind., January 9, 2013 – Does it cost more to be single than married? According to a new CouponCabin.com survey, the grass, or more likely the money, is always greener on the other side. More than four-in-ten (42 percent) single U.S. adults report they feel more financially strained than their married peers, while 35 percent of married U.S. adults said the same of their single counterparts. This survey was conducted online nationwide by Harris Interactive on behalf of CouponCabin.com from December 19th to December 21st, 2012, among 2,132 adults ages 18 and older.

Taxes

When it comes to government issues, such as federal income taxes, singles think they pay more than marrieds. More than half (51 percent) of single U.S. adults feel they pay more in federal income taxes than their married peers, compared to 46 percent of married U.S. adults who said the same of their single counterparts.

Household Expenses

Household expenses are an area where marrieds feel they get the short end of the financial stick. More than six-in-ten (62 percent) married U.S. adults agree that their household expenses are greater for them than for their single peers. Only 29 percent of singles said the same of their married peers.

Sometimes, household expenses can be so high that adults are forced to make tough decisions. Fourteen percent of U.S. adults report they have stayed in a relationship or a living situation with someone purely due to financial reasons.

“No matter what your relationship status, there are financial challenges that exist for everyone,” said Jackie Warrick, senior savings adviser at CouponCabin.com. “The important thing is to measure yourself against your own yardstick; your own goals, your own risks and your own challenges. Focus your energy on how to better your financial situation rather than lamenting other’s fortune.”

Saving

Married and single U.S. adults also have different views on how much money they are able to save for the future. With typically higher household expenses, 48 percent of married U.S. adults agree they are able to save more money than their single peers because of their combined earning power. More than half (51 percent) of single U.S. adults agree they are able to save more money than their married peers because they don’t have the same financial responsibilities.

Workplace Flexibility

While there are many studies that report that married employees may receive more flexible work arrangements, more singles said their workplace was more flexible for them than their married colleagues. More than one-third (34 percent) of singles agree that their workplace is more flexible for them than it is for their married co-workers. Just 24 percent of marrieds said the same of their single counterparts.

Social Obligations

Sometimes, the requirements of being friends with married couples can cost singles an arm and a leg. Of those single U.S. adults with married friends, 17 percent feel they spend more on gifts and special occasions for their married counterparts and their families than is reciprocated.

When asked how much on average they spend per year on their married friends and their families, single U.S. adults who spend any money on gifts or occasions for their married friends and their families said the following:

  • $200 or less – 65 percent
  • $201 – $500 – 24 percent
  • $301 – $499 – 4 percent
  • More than $500 – 11 percent

In addition, 29 percent of single U.S. adults often feel pressure to spend money on “single” obligations like going out to dinner, going to bars and buying the latest trendy clothes.

http://www.couponcabin.com/press-releases/

Survey Methodology:

This survey was conducted online within the United States by Harris Interactive on behalf of Coupon Cabin from December 19th to December 21st, 2012, among 2,132 adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact Allison Kaplan, akaplan@couponcabin.com.

About CouponCabin.com

CouponCabin.com offers the broadest selection of high-quality, guaranteed-to-work coupons on the web. With online coupon codes, printable in-store coupons, grocery coupons, local deals, free samples and more, CouponCabin.com is the ultimate one-stop-shop for coupons of every variety. Consumers can also be the first to know about the best coupon deals available with CouponCabin’s Newsflash, a constantly updated and innovative new feature with dozens of breaking offers each and every day. Shoppers have saved nearly $350 million since CouponCabin’s foundation in 2003, and the average user saves $19 in just 80 seconds. With Newsflash, customized email newsletters, mobile apps for iPhone, Android and iPad, downloadable browser savings alerts and exclusive coupons, shoppers will never miss out on a great deal with CouponCabin.com.

SOURCE: CouponCabin.com

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