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If it sounds too good to be true...: A Georgetown, SC man was recently charged with selling fake homeowners insurance policies. Not just falsely representing a company mind you, but selling policies that were imaginary and meaningless from start to finish. Apparently, the crime was discovered before any of the victims had to file a claim, so no serious harm was done. With this in mind, I give you... Top Ten Ways To Know Your Insurance Agent Is Selling You A Fake Policy: 10) You can't find a company listing for Big House Mutual Insurance company. 9) Your premium check was endorsed by someone named Joe Underwriter. 8) Your agent's business card has a picture of Wyle E Coyote in the corner. 7) The receptionist answers your phone call by saying, "Coyote Investments, Loans, Pawn, Firearms, and, oh yeah, Insurance. Can I help you?" 6) When your agent says his car is his real office, he does so without a trace of irony. 5) Your policy is handwritten on a Shoney's...

Two articles relating to the glut of collectibles available these days fill our page today. Not to go all Economics 101 on you or anything, but you'll remember that gluts, of course, are bad news for sellers but good news for buyers. You've heard the old saying, "The rich get richer, the poor get poorer." Never more true than these days, particularly in the antiques and collectibles market. If you are an investor with cash to spend, there are plenty of bargains out there. Miami Dealers Say It's A Buyer's Market: The Miami Herald is reporting that antiques dealers in and around that city have packed aisles and and are willing to negotiate. Monica Fidel, a personal-property appraiser in Miami, says this market is suffering just as much as others in the economic downturn but with a few quirks. The market is flooded with items, Fidel says, so the supply is much greater than the demand. Consumers aren't buying antiques or collectibles unless they have p...

Someone In Your World: Daren DiSantis of OfficialWire.com says that there are several advantages to having a local insurance agent, agreeing with me in the process. Local insurance agents care more about you as a person than anyone else in the insurance business. I'm not saying that because I dislike claims adjusters (quite the contrary!) or any other nonsense like that. I am saying it because your local agent is the person you deal with for your insurance questions and needs. An agent will tell you if some course of action you want to take is the right way to go. An underwriter won't tell you that, a claims adjuster won't, and actuary won't. Agents advise; other insurance people react. That's a significant difference, and if you are buying insurance through an 800 number, you aren't talking to someone who thinks the way you do. Farley Home Services strongly suggests that you have your own local insurance agent. In nearly every instance you can think ...

You Know Who You Are: Residents in Texas , North Carolina , Louisiana , and Florida can expect to pay higher property insurance premiums in the coming months. OK you geography buffs out there, what do these states have in common? Obviously, there is a lot of debate in these states about the inland (poorer) homeowners having to pay higher premiums because of the coastal (richer) risk, and while I tend to be on the side of the little guy whenever possible, I have to side with the coastal residents on this one. A major tenant (perhaps the major tenant) of insurance is the concept of shared risk. The best way to accomplish that in a property insurance setting is to do so across an entire state, in my humble opinion. Each insurer has to tailor its policies to meet individual state requirements, so state legislatures have a huge say in how things work. This is an unwieldy process for the big national insurers, but the alternative of a federally regulated insurance program is distast...

Don't Forget The Lake House: Those of you who own vacation homes need to remember the contents you keep there when it comes to your home inventory protection. As a matter of fact, Matt MacMillan of the Hutchison (MN) Leader says you should keep a separate inventory for that residence. The article has some good insurance tips for owners of secondary residences. If your secondary home or vacation home has a mortgage, your lender may require homeowners insurance just as it would for your primary residence. However, there may be additional stipulations in the policy because you only reside in the home for part of the year. Like with your primary homeowners insurance, it is important to review the policy for your secondary home every year and keep an up-to-date home inventory in case you would need to file a claim following a loss. [emphasis added] Under-Insurance Conundrum: Karen Telleen-Lawton has an interesting article dealing with the problem of homeowners under-insurance. ...

Stolen Nazi Art: Bloomberg .com updates progress (or lack thereof) being made toward settling stolen art claims from the Hitler era. The Nazis stole some 600,000 pieces of art. I had no idea the number was that high. It's been 70 years, let's get this done. Poor Unloved Renters: David Pugh says renters need love. If not love, then at least insurance . Renters need home inventories too, by the way. Insurance Agents Under Stress Too: Claims Journal says that "bad apple" insurance agents are tempted to protect their livelihoods through insurance fraud in tough economic times like these. I want to take this time to emphasize how important it is to have a good working relationship with your insurance agent. This protects you in two ways: 1) Your agent has a vested interest in keeping you happy, and he will be more likely to go to bat for you in a claim situation if he is familiar with you and knows your character, and 2) You will be more likely to get of se...