Andrich Insurance

 
 
We’ve all heard the nightmarish tales of people losing their jobs and having their identity stolen because of social networking sights (e.g. Facebook, Twitter, Myspace). However, one thing that you may not know is that more and more insurance companies are using these websites as a source of underwriting. This means that users who post their whereabouts or adventuresome pictures will be seeing a hike in their premiums in everything from homeowners to life insurance.

Posting your whereabouts on social networks alerts criminals to the fact you're not at home, and therefore increases your chances of getting robbed. This increased chance of burglary has a direct relationship with your homeowner insurance and some users will reportedly see their premiums increase by as much as 10%. 

Another no-no in the world of social networking websites is posting pictures of yourself engaging in hazardous activities such as bungee jumping, rock climbing, or binge drinking. It is exactly these activities that insurance companies view as ‘high risk’ and, ultimately, may lead to higher life insurance rates.

Many larger insurance companies have also stated that they will review these social networking websites after a claim is filed to see if the insured was at all negligent. Aside from the above mentioned tips to keep your insurance premiums at a minimum, it is also recommended that users never post any personal information on these websites. This includes home addresses, personal telephone numbers, and your date of birth. Although these may seem like insignificant pieces of information, when put together they can provide any would-be burglar with just the right information to make you a prime target.

Tips for keeping insurance premiums at a minimum:

 1. Turn off location-based services on Twitter and Facebook unless you absolutely need to use them

 2. Don't follow people you don't know on social networks and use block others from seeing your profile if you don't know them

 3. Never post any personal information on these websites (home address, phone number, date of birth, etc…)

 4. Never post pictures of yourself engaging in reckless activities
Written By: Charles Lowe, Account Manager
 


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