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Insurance and Money Matters

Credit Card Rewards

Some Rewards are Just Sweeter

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

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:

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.

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4 Ways to Save

4 Ways to Save on Homeowners Insurance

Adjust, Don’t Cut

In hard economic times, consumer fears and preferences toward insurance premiums can surface in a familiar sort of progression—that being to cut or reduce coverage with haste. But beware! Arbitrary cuts are often mistakes that leave homeowners dangerously underinsured.

Here are four easy ways to make adjustments that will save you money:

  1. Raise your deductible. Nowadays, most companies recommend a deductible of at least $500. If you can afford to raise your deductible to $1,000, you may save as much as 25 percent.
  2. Take advantage of home improvements. If you haven’t made any home improvements recently, consider upgrading electrical, heating or plumbing systems. These will not only reduce your premiums, but also increase your safety.
  3. Review any policy additions. If you purchased additional coverage (referred to as a scheduled personal property endorsement) for jewelry, art or miscellaneous valuables that you no longer own, it is definitely time to bring this to the attention of your agent and have your premium adjusted accordingly.
  4. Seek out other discounts. For instance, if you’re at least 55 years old or retired, you may qualify for discounts that working people and those under 55 are not entitled to. Also, people who place their home and auto coverage with the same insurer or have homes with smoke detectors, burglar alarms and dead-bolt locks often qualify for additional discounts as well. Be sure to check with your agent about all available discounts before investing in any expensive upgrades.

As always, AAA Insurance Agency has licensed agents standing by to assist with all your questions and concerns. Take the first step to saving today.

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Damaged Pontiac Vibe
Credit: Dawn Bender

Uninsured Motorist Coverage

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.

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