Arizona Daily Star from Tucson, Arizona • Page 42

ihm i TV rrrryt I' tt tt tt ft 11 nr Page Two Section CTIir Arizona warni Sfar Tucson, Sunday, July 4, 1999 Make it a policy to check insurance Highest Tucson rates These are Tucson financial institutions' highest quoted interest rates and annual percentage yields (APY), with the minimum deposits required. Lower interest rates and yields are usually ottered on smaller deposits. Annual percentage yield is a function of the interest rate and the frequency of compounding. The figures in the table were quoted by the institutions at week's end, but rates are market-sensitive and subject to rapid change. Financial institutions and brokerages differ Consumer Annual percentage yield significantly in how they insure money market accounts, and should provide details to prospective customers on request.

Credit unions Interest rate have limited membership criteria but can help you determine whether you qualify. 1 I $50,000 minimum deposit required 4.12 4.49 4.84 4.68 Average 2-year CD APY Average money market account APY Average 6-month CD APY Average 1-year CD APY 2-year CD Rate APY minimum deposit 1-year CO Rates APY minimum deposit Money market 6-month account CD Rats APY Rate APY minimum deposit minimum deposit By Vivian Marino The Associated Press NEW YORK A guest slips on your wet patio. Outdoor critters damage a backyard shed. A tree crushes your garage while water floods the basement during a storm. Are all these covered by your homeowners or renters policy? Yes, no, yes and maybe.

Figuring out what's protected by insurance can sometimes turn into a guessing game for those unfamiliar with the workings of their policies. In other words, many of today's busy homeowners. Few bother to regularly review the fine-print exclusions set by insurers and more of them have been creeping up, especially after Hurricane Andrew in 1992, industry experts say. "Who reads all that stuff? It's so long and complicated," said Robert Hunter, director of insurance for Consumer Federation of America in Washington. Financial advisers and consumer groups, though, recommend homeowners conduct regular insurance checkups, reviewing their policies for any holes in coverage just as they may survey their homes each year for cracks in the foundation or leaks in the roof.

A home and its contents often represent a major component of net worth, and any losses due to inadequate coverage could derail years of sound financial planning. Now may be a good time for an insurance inspection, since most people tend to entertain more during the summer, thereby increasing potential liabilities. Standard homeowner policies, required by mortgage lenders, cover loss of home and personal possessions due to a number of perils, such as fires, vandalism, theft and most natural disasters. They also provide limited liability protection. If a tree falls on your garage, you'd be covered for damage to the structure and Losses caused by earth movements aren't.

This covers earthquakes, landslides, sinkholes, mudslides or tremors related to a volcanic eruption. If you live in a high-risk area, separate earthquake insurance may be necessary. Other common exclusions: Neglect or wear and tear. It's up to individuals to use all reasonable means to preserve their property, and if they don't, coverage may be forfeited. That includes damage caused by smog, rust, mold, wet or dry rot, birds, vermin, rodents, insects, even pets.

Ordinance or law. This means enforcement of any ordinance regulating construction, repair or demolition of a structure. If your house burns down and a city ordinance requires it be replaced with a stronger structure, your policy might not cover this. Business losses. This includes parts of your house used for business; data or papers taken from work; and computers, software or other property belonging to your company.

Liability falls into this area, too. There's no coverage if someone injures himself while delivering a package to your home office. "Many people buy BOPs Business Owner Policies," said Salvatore. Hunter says some policy exclusions, like the one pertaining to building ordinances, were a direct result of Hurricane Andrew, which resulted in $26.7 billion worth of property and casualty insurance claims. He says many companies also have done away with guaranteed replacement cost policies, which used to pay whatever it cost to rebuild a home to the state it was before a fire or other disaster, even if it exceeded the policy limit.

Nowadays, he says, insurers are willing to pay only up to 20 percent above the policy limits. the cost of removing the tree. If someone slips on your wet patio, you'd be covered for medical expenses arising from any injury, a limited amount of damages and legal costs to defend yourself against claims. If a court award exceeds limits of your liability coverage, however, your assets could be at risk. An "umbrella" policy may be necessary.

It typically provides additional liability coverage of $1 million or more. Jeanne M. Salvatore, a spokeswoman for the Insurance Information Institute Inc. in New York, notes there are numerous other limits and exclusions homeowners must be aware of. It may be necessary for some households, for example, to purchase special property endorsements, or "floaters," to insure certain valuables, like jewelry, silverware, furs or electronic equipment at higher amounts than allowed under a standard policy.

Flooding is another big issue. Those who live in a flood-prone area should consider buying separate flood insurance provided through the Federal Insurance Administration, she said. "Water seepage is not covered. It's considered a maintenance issue," said Salvatore. "(But) if your house is damaged by an insurable peril (like a hurricane) and water gets in because of that, you're covered" under the standard policy.

Flooding caused by burst pipes and any other accidental discharge of water from your plumbing system also is covered under standard policies. $100 000 $100.000 Arizona Bank 620-5200 Bank of America (800)284-8491 Bank of Tucson 321-4500 Commercial Fed. $100,000 $100,000 Uiil-UKUU" $100,000 I $100 000 $100 000 $10000 Bank (888)226-5542 $500 $10,000 $500 $500 I $100,000 $100 000 I $100,000 $100,000 Fifth Third Bank 577-1122 Harris Trust Bank 577-1344 Nat'l. Bank of Ariz. 571-1500 Northern Trust 615-2300 Norwest Bank $100,000 $100,000 $100,000 $100 000 $100,000 $100,000 $100,000 $100,000 620-3415 $100,000 $100 000 $100,000 $100 000 Pacific Century 721-9337 S.

Ariz. Community Bank 219-5000 Washington Fed. 748-7244 Wells Fargo AT THE PUMP (800) 869-3557 World Savings (800) HOT-RATE $50,000 $10,000 $10,000 $10,000 Averages Brokerages 4.46 5.11 5.57 5.83 Annual perctg. yld. 5.27 5.26 5.25 5.20 5.20 5.42 5.40 5.40 5.39 5.38 Average money market account rate Average 6-month CD rate Average 1-year CD rate Average 2-year CO rate Last survey averages: 1.087 Unleaded 1.283 Premium The average price is compiled from a random polling of the cash price ol self-serve gasoline at 10 Tucson-area stations A.G.

Edwards Below are the lowest prices in survey for the past week 1.049 Unleaded both 84 Diamond Shamrock, 1.229 Premium -2ampbeliv'and Benson Highway 5.96 5.94 5.92 5.91 5.91 571-1100297-2521 Charles Schwab (800) 435-4000 Dain Rauscher 299-4444 Edward Jones The Arizona Daily Star Top national yields 1999 The Bradshaw Financial Network Minimum Telephone deposit Liquid Money Market Deposit Account (MMDA) Heritage Bank, NA (800) 344-7048 $75,000 Capital One FSB (800) 539-8681 $10,000 Sterling National Access (800) 944-2265 $5,000 Atlantic Bank (800) 727-2223 $25,000 USAccess Bank (877) 369-2265 $7,500 Six Month Certificates Of Deposit First Market Bank (800) 968-3824 $5,000 Providian Bank (800) 414-9693 $10,000 Providian Natl Bank (800) 821-9049 $10,000 Key Bank USA (800) 872-5553 $5,000 First Internet Bank IN (888) 873-3424 $1,000 One Year Certificates Of Deposit First Internet Bank IN (888) 873-3424 $1,000 USAccess Bank (877) 369-2265 $500 Bankfirst (800) 328-241 1 $5,000 Providian Bank (800) 414-9693 $10,000 Providian Natl Bank (800) 821-9049 10,000 2 12 Year Certificates Of Deposit Capital One FSB (800) 539-8681 $10,000 Key Bank USA (800) 872-5553 $5,000 Providian Bank (800) 414-9693 $10,000 Providian Natl Bank (800) 821-9049 $10,000 USAccess Bank (877) 369-2265 $500 Five Year Certificates Of Deposit Capital One FSB (800) 539-8681 $10,000 Key Bank USA (800) 872-5553 $5,000 Bankfirst (800) 328-24 1 1 $5,000 USAccess Bank 369-2265 $500 Providian Bank (800) 414-9693 $10,000 Ninety Day Jumbo Certificates Of Deposit BSB Bank Trust (888) 245-7272 $95,000 Equitable Fed Svgs (800) 638-8528 $95,000 New South Fed (800) 366-3030 $50,000 Southern Pacific Bank (800) 428-5056 $50,000 Key Bank USA (800) 872-5553 $99,000 Six Month Jumbo Certificates of Deposit BSB Bank Trust (888) 245-7272 $95,000 Southern Pacific Bank (800) 428-5056 $50,000 Providian Bank (800) 414-9693 $95,000 Providian Natl Bank (800) 821-9049 $95,000 Key Bank USA (800) 872-5553 $99,000 797-3812 HFCU Services 294-4140 6.36 6.29 6.25 6.25 6.22 Merrill Lynch Money market 6-month 1-year 2-year account CD CD CD EAY I Rate'. APY APY Rate'. APY minimum deposit I minimum deposit I minimum deposit minimum deposit $2.500 i $1.000 $1.000 i $1,000 $25,000 I NA 5.000 $5.000 $1.000 I $1.000 I $1.000 I $1.000 no mm. I $5,000 I S5 000 $5,000 NA I NA NA NA $5.000 i $1.000 S1.000 i NA $5,000 I NA I NA i na I $25.000 I $10,000 $10 000 $10 000 I $1,000 I $1.000 I NA $iooQ $1 ,000 I $1 ,000 $1,000 i $1,000 i $25,000 $10000 I $1.000 I $1,000 I $000 i $1000 $2.500 $1.000 $1.000 $100Q 747-6197 Morgan Stan. Dean TREASURY ISSUES The Federal Reserve will auction 13-week and 26-week Treasury bills on Tuesday, July 6.

Last week's 13-week discount rate was 4.750 percent. The 26-week discount rate was 4.960 percent. The last auction of the 30-year bond was Feb. 11. The coupon rate was 5.250 percent with a yield of 5.298 percent.

The next auction of the 52-week bill will be Tuesday, July 20. The last auction was June 22. The discount rate was 4.890 percent. -The next auction of the two-year note will be Wednesday, July 28. The last auction was June 23.

The coupon rate was 5.750 percent with a yield of 5.754 percent. The last auction of the five-year note was May 1 1. The coupon rate was 5.250 percent with a yield of 5.367 percent. The Department of the Treasury Bureau of the Public Debt Homepage address is: http:www.publicdebt.treas.gov -The site features detailed information about: the public debt; bonds, notes, and bills; state and local government securities and other special investments; and government securities market regulation. Investors can read the latest Department news, request forms and send e-mails.

For a packet of information and forms to invest in the various instruments, call (213)624-7398 from 9 a.m. to 5:15 p.m. Monday through Friday. Such forms also can be obtained by writing the Bureau of the Public Debt, Department Washington, DC, 20239-1000, or the Federal Reserve Bank of San Francisco, Los Angeles Branch, Securities Services, P.O. Box 2077, Los Angeles, 90051.

Witter 51 9-2300 Olde Discount 721-7200742-3800 Paine Webber 748-3664 Prudential Sec. 6.75 6.66 6.56 6.56 6.54 745-8900 Raymond James 529-8516 Salomon Smith 5.38 5.25 5.25 5.24 5.18 Barney 615-2521 Sutro Co. 299-1100 U.S. Bancorp Piper Jaffray 747-2456 $1,000 $1,000 $1,000 Largest credit unions 5.57 5.41 5.40 5.40 5.39 3.90 4.35 4.73 4.82 Average money market account APY Average 6-month share certificate Average 1-year share certificate Average 2-year share certificate Annualized 7-day yld 5.10 4.94 4.91 4.90 4.89 Min deposit $1,000 $10,000 $10,000 $10,000 $5,000 Money market account 6-month share cert. Rate APY minimum deposit 1-year share cert.

Rate APY minimum deposit 2-year share cert. Rate APY minimum deposit Rate APY minimum deposit Telephone Highest Yielding Money Market Funds Strong Investors Money (800) 368-3863 WT Money Market Portfol (800) 254-3948 Aon FundsMoney Market (800) 266-3637 Scudder Prime Res MM Sh (800) 854-8525 Bunker Hill MMF (800) 572-9336 Highest Tax Free Money Market Funds Strong Municipal MMF (800) 368-3863 USAA Tax Exempt MMF (800) 382-8722 Vanguard Tax-Exempt MMF (800) 662-7447 Janus T-E MMFRetail Sh 525-3713 Fifth Third T-E MMFInv (888) 799-5353 Arizona State Savings 628-6090 i Industrial trade group names new president The Arizona Association of Industries has named Judith Allen its president and CEO. Allen replaces Nancy Russell, who served as president and CEO for nine years. Russell stepped down to start a business consulting firm. Allen left a position at Lockheed Martin to accept the associations appointment.

She spent a year at Lockheed Martin directing welfare reform procurement and the company's bid program while handling community and government relations for the project. Prior to her work at Lockheed Martin, Allen spent eleven years as clerk of the Maricopa County Superior Court. During her tenure at Superior Court, Allen initiated programs for child support and divided families and a performance-based compensation plan. Allen served as president of the Arizona Association of Court Clerks in 1991, 1995 and 1996. She has been appointed to numerous civic and governmental committees, including the Arizona Task Force on Child Support Enforcement, the Child Support Coordinating Council and the State Task Force Commission on the Courts.

Her community activities include service as board member for the Center Against Sexual Abuse and for Goodwill Industries. In addition, Allen belongs to the Charter 100, a professional business women's group, the Valley Citizens League and the FARE (Fiscal Accountability and Reform Effort) Committee. She also co-chairs the Families WorkgroupPublic Policy Committee of the Phoenix Violence Prevention Initiative. Allen has lived in Arizona for 20 years. Now in its 35th year, the Arizona Association of Industries is the largest industrial trade organization in Arizona with more than 600 members statewide.

The association, headquartered in Phoenix, says it seeks to build and enhance a climate favorable to manufacturing and related industries in Arizona. p-M Federal I 98-7882 $2,500 $3,000 $3,000 $2,500 $1,000 3.53 3.42 3.40 3.32 3.30 Hughes 794-8341 a II II 1 W4 kit ft 1 TT frtn 1 Pima Federal B87-5010 ISaguaro 24-8333 I Tucson Federal I Source: 1999 RateGram, a service of The Bradshaw Financial Network, a division of IBC Financial Data, which tracks the nation's safest, highest paying federally-insured CDs. P.O. Box 9104, Ashland, MA, 01721-9104. CompuServe: Go RateGram.

Web: httpAvww.bradshawbankdata.com. Money market mutual fund data is provided by IBC's Money Fund Report, a service of IBC Financial Data, Ashland, MA. 795-8520 Tucson Old Pueblo 1881-6262 i NA $1.000 $1.000 The Arizona Daily Star- NEW IN TOWN i The Arizona Daily Star Belo Corp. to buy independent TV station in Phoenix DALLAS (AP) The A.H. Belo Corp.

said yesterday it has agreed to acquire a Phoenix television station and sell stations in Honolulu and Albuquerque. 1 Belo said it will acquire KTVK-TV, an independent station in Phoenix, and other assets from Phoenix-based MAC America Communications Inc. for $315 million. Belo will also get the rights to operate KASW-TV through a local marketing agreement and a 50 percent interest in the Arizona News Channel, a joint cable news venture with Cox Cable. Belo said it agreed to sell KASA-TV, a Fox affiliate in Albuquerque, and KHNL-TV, an NBC affiliate in Honolulu, to Raycom Media Inc.

of Montgomery, for $88 million. Belo said the sale also includes rights to operate KFVE-TV in Honolulu under a local marketing agreement. Belo had previously announced its intention to sell the three stations. All the transactions are expected to close this fall, Belo said. cently new tenants include Block Tax Services, Church's Fried Chicken, Great1 Clips for Hair and the 99 Cents Discount Store.

Volk Co. Commercial Real Estate's Synthia King represented the plaza's Park View Plaza Inc. Terry Dahlstrom, also of Volk, represented Church's and the 99 Cents Discount Store. Centre East, 7810 E. Broadway has two new tenants: Long Realty and Vista' Eyecare.

Richard Q. Shenkarow, of; Shenkarow Realty Advisors, represented the office park in lease negotiations. Sipe and Associates is a new service evaluation company that helps businesses assess and improve customer service. Mystery shoppers are sent to test employees' sales and service skills. Sipe and Associates is located at 9260 N.

Jessy Lane. Phone: 744-8836. Allstate Insurance Co. has two new offices in Tucson. Agent Juan Antonio Salazar opened an office at 5650 S.

12th Suite 116, and Agent Dan Keupp started business at 3530 N. Oracle Road, Suite B-124. Dorado Personnel has opened an office in Sierra Vista: Sierra Vista Personnel. The staffing and temporary services company is located at 1865 Paseo San Luis. In new quarters Beach Fleischman Co.

has relocated to 3443 N. Campbell Ave. The new offices, just one block south of the previous location, will accommodate the accounting firm's expanding business. The Arizona Jewish Post has relocated to 2601 N. Campbell Suite 205.

In business since 1946, the biweekly publication is the only English-language Jewish newspaper in Southern Arizona. Touch Point Communications moved its offices to 11125 N. La Canada Drive, Suite 151. The Tucson Computer Society moved its headquarters to 4444 E. Grant Road, Suite 104.

The new headquarters will host meetings for the society's numerous computer-related special interest groups. The phone number is 325-2113. Park View Plaza at the northeast corner of Ajo and Mission Road is fully leased. Re Send notices for New in Town to the Moneyplus section, The Arizona Daily P.O. Box 26807, Tucson, AZ 85726-6807, or fax to 573-4144.

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