FOR IMMEDIATE RELEASE
NEW RESOURCES HELP CONSUMERS MAKE SMART INSURANCE
DECISIONS WHEN IT MATTERS MOST — BEFORE A CRISIS OCCURS
resource kits help consumers get smart about insurance
during major life event planning
WASHINGTON, D.C. (April 22, 2014) — Spring not only brings warmer temperatures and
sunnier days, but also a sense of renewal. For some, wedding bells will
soon ring and tax refunds will finance new cars. When making such important
life decisions, the National Association of Insurance Commissioners (NAIC)
cautions consumers to take the time now, before a major purchase or life
change, to fully protect themselves from the unexpected. The NAIC developed
Get Ready resources
to help consumers do just that.
“All too often, people only think about their insurance when something bad
happens and they need to file a claim or lodge a complaint,” said Adam
Hamm, NAIC President and North Dakota Insurance Commissioner. “We developed
Get Ready resource kits to help consumers make informed insurance
decisions when it matters most, before a crisis occurs. The kits include
useful tools to help jumpstart potentially difficult yet crucial
conversations related to important life events.”
While insurance needs vary greatly from person to person, the NAIC has
identified several common situations during which it is especially
important to be diligent. Get Ready resource kits are tailored to
address the most pressing questions associated with key life decisions,
married or buying
a car. Kits include challenging questions to ask, eye-opening
statistics and Take Action Now checklists of simple things to do
today to avoid unpleasant surprises tomorrow. Additionally, resource kits
are supported by related videos,
infographics, downloadable apps and interactive games to help make
insurance education fun.
Examples of challenging questions include:
Planning a wedding:
- How might our
individual credit and legal histories impact our combined financial
- Beyond rent or
mortgage payments, have we budgeted correctly for our living
- Are there any
special financial issues in either of our medical histories?
Buying a car:
- Beyond the sale
price, what other costs should I keep in mind before buying a new car?
- What are my
responsibilities if my car is involved in an accident?
- How do I protect
myself in the event my car is vandalized and someone steals my
Choosing a new home:
- Beyond the sale
price, what other costs should I consider before buying a house?
- How would I handle
the financial burden of an unexpected disaster affecting my home?
- What are the
financial pros and cons of operating a home-based business?
Get Ready resource kits for planning a wedding, or buying a car
are available now at www.InsureUOnline.org.
Additional resource kits will be published this summer. Consumers interested
in insurance information specific to where they live can contact their state insurance commissioner.
Audio: NAIC President and North Dakota Insurance Commissioner Adam Hamm discusses Get Ready resources [mp3]
About the NAIC
The National Association of Insurance Commissioners (NAIC) is the U.S.
standard-setting and regulatory support organization created and governed
by the chief insurance regulators from the 50 states, the District of
Columbia and five U.S. territories. Through the NAIC, state insurance
regulators establish standards and best practices, conduct peer review, and
coordinate their regulatory oversight. NAIC staff supports these efforts
and represents the collective views of state regulators domestically and
internationally. NAIC members, together with the central resources of the
NAIC, form the national system of state-based insurance regulation in the
U.S. For more information, visit www.naic.org.