In the past several months, car insurance premiums went down to an astonishing 15%, and are at their lowest, according to the data available of the past five years. According to a research conducted on price comparison by Confused.com, the average quoted premium has gone down to a third from the year 2011. Now the insurance companies are quoting £579 instead of £678, which they charged a year ago. This step was a major EU directive for encouraging youth of both genders to opt for car insurances as the fallen premiums are now under the affordability range of an average … (more) December 18, 2014

  • PIP auto insurance system in Florida goes out of control

    by Richard Burton
    PIP auto insurance system in Florida goes out of control

    Kevin McCarty, Insurance Commissioner, Florida has given a bleak outlook of the PIP auto insurance system that seems to have spiraled out of control in the recent times. The benefits that have been doled out on the PIP claims seem to have skyrocketed to a whopping 70% since 2008, while the number of licensed drivers has remained the same, and even though the accidents have decreased. The massive hike in PIP payments which was about $2.37 billion in 2010 when compared to $1.43 billion in 2008 is due to the rise in fraudulent practices and due to the abuse of … (more) September 13, 2011

  • Another auto insurance discount initiative gets the backing of mercury chairman

    by Richard Burton
    Another auto insurance discount initiative gets the backing of mercury chairman

    Last year, voters had turned down the auto insurance initiative, which was bankrolled by Mercury. However, Mercury wants to give it another try. This week, the California attorney general’s office released a summary of the proposed initiative that was submitted by Mike D’Arelli, who is the executive director of American Agents Alliance, which is an insurance trade group. This is an initiative that is somewhat similar to the Proposition 17 that was defeated during the June 2010 elections despite the fact that Mercury spent around $16 million on a media campaign that was carried out throughout the state. The new … (more) September 11, 2011

  • Review auto insurance to prevent fraud claims suggests Lloyd’s

    by Richard Burton
    Review auto insurance to prevent fraud claims suggests Lloyd’s

    The leading auto insurance provider Lloyd’s, reported a steeping incline in fraudulent claims. This can be a chief reason for elevating auto insurance premiums. What is more alarming is the fact that the fraudulent car insurance claims are on the rise across the globe. As the insurance companies are exposing escalated number of fake claims, the situation is deteriorating around the world. The Insurance Information Institute of the United States approximates that fraudulent claims constitute over 10% loss each year in the auto insurance industry. How would these frauds affect us when we review or compare auto insurance quotes? Examples … (more) September 10, 2011