Thirty-seven percent of Americans spent more on insurance over the past year while only 7% spent less, according to new research published today by Bankrate.com. The remaining respondents either spent about the same (52%) or didn’t know/refused to answer (4%). Of those who spent more, 62% said their spending went up because of rising premiums. The next most popular response was because they bought a new home, car, boat or recreational vehicle (12%). The results reflect Americans’ total spending on all types of insurance (auto, homeowners, renters, health, life, etc.). “We continue to view rising expenses and stagnant wages as a key financial hurdle for American households,” said Doug Whiteman, insurance analyst, Bankrate.com. “But consumers shouldn’t accept rising insurance premiums without a fight. Compare quotes from at least three other companies, investigate all possible discounts and don’t be afraid to ask your current insurer for a discount. You may be able to get a better deal.” Tony speaks with Doug about premiums and what you can do to reduce your cost
Last year military suicides outpaced combat deaths in Afghanistan. Will this trend worsen? With Tony is CBS News Military Analyst Mike Lyons.
