Investigators for both the police and insurance companies are using Facebook and Twitter to obtain information in the ongoing battle against fraud.

But insurance companies are also apparently trying to use that same information obtained from such popular social media websites such as Facebook and Twitter to calculate insurance premium increases.

In other words, insurance companies are contemplating using social media to assess risk. Simply put, it will allow an insurance company to create a profile of how risky, or unrisky, a particular person or property may be to insure. It will allow an insurance company to collect information at a much more detailed level.

Today, insurance companies are barred from using social media to help set rates. But regulations change, and in the not to distant future it may become common practice for an insurance company to check your facebook site to help set your insurance rates. Indeed, many states used to bar insurance companies from using your credit score to set rates. But today, such practice is common place.

It should be noted that even if a policyholder’s social media profile is private, a court can approve an order allowing access to the profile for a limited time.

So the lesson to be learned here is that if you don’t want an insurance company – or anyone for that matter – to learn something about you, then don’t post it on your social media website. As you can see, insurance companies are trying to find out as much information as possible about you in order to assess its risk exposure.
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Consider Your Options. Contact Us Today.

If you are facing a dispute over an insurance claim in Florida, contact Alvarez & Barbara, LLP at 305-263-7700 or toll free at 866-518-2913 for a free and confidential consultation to discuss your rights.

Recently, a NASA satellite broke up and fell to Earth. It ended up landing in a remote location in the South Pacific.

The question many were asking prior to it landing was whether or not one’s home or car would be covered if stricken by the NASA satellite.

The odds of a person getting struck by satellite debris has been calculated by NASA at 1 in 3,200. But the odds of you actually getting hit by a satellite is less than 1 in 10 trillion.

Still, if you are unfortunate enough to be in the satellite’s path, will your insurance cover the damage? If you have home insurance, the answer is likely to be “yes.”

As with every insurance policy, the first thing one must do is to actually read the policy to determine the scope of coverage. In most home owner policies, “falling objects” is a covered peril. Therefore, the falling satellite is likely covered.

On the other hand, your car may or may not be covered. It all depends on whether or not you carry comprehensive coverage.

Comprehensive coverage (sometimes called “comprehensive car insurance” or “other than collision”) typically pays for damages on covered costs that aren’t caused by a collision. For instance, it covers damages stemming from storms and natural disasters like tornadoes, hurricanes, and earthquakes, as well as Vandalism and theft, broken/shattered windows and windshield, animal damage, and falling objects – like a satellite. So if you have purchased comprehensive coverage, and your car is struck by a satellite, then odds are in your favor that you will have coverage for that loss.

Health insurance will also cover you for any injuries you sustained from being hit by a satellite. Should you happen to die after being struck by a satellite, and you have life insurance, then your designated beneficiaries should get paid as well.

Insurance coverage is purchased to cover unexpected expenses associated with rare situations like being struck by a satellite.

But even if you have purchased the correct insurance coverage, it is not uncommon for an insurance company to deny your claim. In such instances, our firm is prepared to assist you with your insurance claim.
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EXTENDED BODY:
If you are facing a dispute over an insurance claim in Florida, contact Alvarez & Barbara, LLP toll free at 866-518-2913 for a free and confidential consultation to discuss your rights.