- Some Rewards are Just Sweeter
- Holiday Shopping with Credit Tips
- Are Your State Farm Discounts Eliminated?
- Uninsured Motorist Coverage
- For More Information
- Georgia, Tennessee and Puerto Rico Insurance and Money Matters
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The shopping season is upon us, and whether you’re in a gift-giving mode, preparing to travel over the holidays, or considering some major purchases around the home (flat panel TV, anyone?), the chances are you’ll be putting some—if not all—of these purchases on a credit card. Of course, the more you spend on a credit card, the more “rewards” you might benefit from, so take a moment to consider which card in your wallet you should be reaching for.
The Low APR Card. Okay, while not technically a reward, you’ll probably benefit the most by putting purchases on a low APR card when you know you’re going to be carrying a balance. The value of points and kick-backs seldom exceeds the interest you would be paying with a high APR card. Reward yourself by paying less.
Points Cards. There are lots of flavors of “points” cards: airline points, hotel points, store points, etc. But while the idea of racking up points with a favorite store or merchant for a “free” splurge is tempting, the reality is that many reward points expire or are never redeemed. Instead, opt for a card whose points can be redeemed at a wide variety of shops and vendors, or on a variety of items, such as merchandise, travel or cash back.
Cash Back Cards. It’s the “one size fits all” gift. While there may be less glamor with a small but consistent cash back reward versus a big “spend,” the good news is you won’t have to worry about points expiring. Plus, you get the satisfaction of knowing you receive a cash back discount on everything you buy.
There have been a lot of recent changes in credit card laws, which may have you thinking about switching to a new credit card with a reward that’s best for you. One thing to remember: Before you cancel older credit cards, be sure to redeem or cash in your points first. Once you cancel your old cards, the unredeemed rewards will be lost.
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Holiday Shopping with Credit Tips
While some consumers may worry about running up a balance on their credit cards during the holiday season, there are some great benefits and protections that can only be realized when you use a credit card. This includes both bank-offered assistance to help you control your spending, and a high level of fraud and security protection. Many credit card banks offer additional benefits, which may include some of the following:
- Major Purchases: Many cards offer replacement coverage for a short period after purchase and/or extended warranty options.
- When Traveling: Most cards offer some travel benefits, which may include travel and emergency assistance, common carrier insurance, car rental insurance, and other travel accident-related insurances.
- Online Shopping: In addition to fraud protections, some cards offer “temporary accounts” designed specifically for online purchases. These accounts link to your credit card account, but use a different 16-digit number combination. After a select time period, the temporary account deactivates, preventing unauthorized use.
- Prepaid Cards: If you are truly concerned about watching your budget, prepaid cards prevent you from going over your limit and include some limited benefits. Also, you may have heard about new credit card laws regarding college students. Prepaid cards can help students learn to spend responsibly.
Of course, not all banks offer the same benefits with every card. Take a few moments to review the benefits of your credit cards before the busy shopping season begins, and you’ll enjoy holiday bliss that comes with the security and convenience of responsible credit.
Visit AAA.com to learn more about AAA credit card benefits and rewards.
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Are Your State Farm Discounts Eliminated?
Don’t pay more for your homeowners than you should.
This summer, State Farm requested and received permission from the Florida Office of Insurance Regulation (OIR) to reduce or eliminate several of the discounts they offered to homeowners. For many home insurance customers, the cost of these lost discounts means spending up to an additional 28 percent or more on their home coverage, something that could prove difficult for homeowners during these trying economic times.
The eliminated or reduced discounts include:
- Multiple policy discount—Customers with more than one type of policy with State Farm (e.g., both home and auto coverage) will no longer receive a discount.
- Claim-free and claim-record rating plan discount—Those customers who have only a few claims or no claims will no longer be rewarded with a discount.
- Plumbing, electrical and air conditioning/heating system upgrade discount—Customers who have made these upgrades will receive only a reduced discount.
- Home alert protection—Discounts for homes with monitored alarm systems also are eliminated.
- The elimination of these discounts is slated to begin Dec. 1 for renewing customers.
What can you do to ensure you have dependable home coverage at reasonable rates? Seek advice from a licensed AAA Insurance agent or professional representative. At AAA, your policies will be personally reviewed and recommendations made to help you make the best home and auto insurance decisions for you and your family.
After all, you are entitled to these discounts, as they reduce risk, which should result in lower premiums.
To contact a AAA Insurance professional, visit AAA.com, call 1-877-222-6190 or stop by your local AAA office (see page 44 for office locations).
State Farm® is a registered service mark of State Farm Mutual Automobile Insurance Company (Company). The use of the mark State Farm is for reference only and does not imply any connection, affiliation, endorsement or relationship between AAA Auto Club South and Company.
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| Credit: Dawn Bender |
More Important Than Ever
The number of uninsured drivers on the road is rising, and that means your chances of being hit by one of them also is growing. This increased risk means that now, more than ever, you need protection that covers losses caused by others without insurance or without enough insurance.
No Surprise for the Rise
Today, more and more people are looking for ways to save money. Because insurance payments are typically a good chunk of a monthly budget, people looking for places to trim expenses often look to them first. Many people find savings by reducing their insurance coverage to their state’s minimum limits, while others who feel a bigger economic pinch let their policies lapse altogether. The result is more people on the road without any insurance or with inadequate coverage.
Hard to Collect
Should an uninsured driver ever hit you, you may never collect on your losses. Suing for damages may be your only recourse, but quite often, uninsured drivers have few assets from which to collect.
Never Fear, UM Coverage Is Here
You can protect yourself. Talk to a AAA Insurance representative about uninsured motorist coverage. They can explain your state’s minimum requirements and make recommendations for coverage levels that are right for your situation. With proper levels of coverage, you can rest assured you’ll be protected from the rising threat of uninsured drivers.
To learn more about uninsured motorist coverage, call 1-877-222-5023 or stop by your local AAA office and talk to a licensed AAA Insurance representative today.
Visit AAA.com for more quotes, tips and information on insurance and money matters.