Get that insurance quote in confidence - you're covered

If you're in the market for an insurance quote, you can rest assured that your investment will be in good hands regardless of what economic developments may loom on the horizon.

This week, the Columbus Dispatch noted that at a time of considerable uncertainty in the stock market and other parts of the economy, many policyholders may be wondering what would happen if their insurance company were to fail. While those with bank deposits are protected by the Federal Deposit Insurance Corp., insurance policies are still subject to oversight from private associations that work at the state level. These regulators are part of the National Association of Insurance Commissioners. As is the case with FDIC protection, there is a cap to the benefits one can take back if their company does fail. In Ohio, that figure for a life insurance policy is $300,000.

"We would not let a company write policies if they were not meeting our requirements and in good financial shape," Ohio insurance official Mary Jo Hudson told the Dispatch, which noted that insurers doing business in the state must register and meet certain financial standards. With these things in mind, consumers can shop for an insurance quote confident that they will not be left hanging in the event of future economic setbacks.

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