Insurance specialists are warning car owners to be wary of the ‘cash for clunkers’ program and its perceived savings. According to many analysts, while the Car Allowance Rebate System (CARS) may seem to offer motorists with tax refunds they can use to buy new cars, the federal program may not be as good as previously thought. The ‘clunkers’ program was originally intended by the federal government to get gas-guzzling cars off the nation’s roads. With the economic slump, however, the program has served another purpose: reviving falling car dealer sales. In less than a week, hundreds of thousands of car … (more) August 6, 2009
Auto Insurance News Archive for August, 2009
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Experts Caution Americans on ‘Clunkers’ Insurance
by Jeanny Hopper -
Insurance Riders Help save Money – Experts
by Jeanny HopperEconomists and insurance analysts both agree that the current economic slowdown is forcing many Americans to drop car insurance coverage to save money. Driving without insurance is illegal in 48th states and drivers caught without proof of insurance can end up paying fines or worse, getting jail time. Experts say that with the unemployment closely tied to the number of uninsured motorists, the U.S. can expect to see more uninsured drivers on the nation’s roads. More uninsured car owner also means a higher chance of getting in an accident with one. Because of this, insurance providers are jacking up premiums … (more) August 5, 2009
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Car Owners should consider Auto Insurance with CARS Program
by Jeanny HopperThe federal government has recently suspended the Car Allowance Rebate System (CARS) because of the unexpected rate at which old cars were being traded in for tax rebates. Dubbed as the “cash for clunkers” program, the government initiative was originally intended to remove aging cars from American roads and replace them with more economical vehicles. The program’s popularity, however, has resulted in an unexpected fast rate of trade-ins. The $1 billion allocated by Congress for the program is fast running out, experts say. They point out that the federal government has underestimated the overwhelming demand for tax rebates. Just a … (more) August 5, 2009
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Experts Give Tips for Classic Car Insurance
by Jeanny HopperIndustry sources say that the demand for special insurance services for classic cars is on the rise. Even with the worsening economic situation, more and more American classic car collectors are searching for ways to protect their prized possessions. According to insurance experts, avid collectors have two choices for car insurance. The first one would involve negotiating with a conventional insurer for added coverage and protection. The second option, they say, means availing of the services offered by an insurer specializing in classic collectibles. Specialists also suggest car owners to assess their needs to better find suitable insurance coverage. Drivers … (more) August 4, 2009
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Wisconsin Insurance Rules to Help Accident Victims
by Jeanny HopperThe state of Wisconsin is slated to be the 49th state to require car insurance from its citizens. As part of its 2010 budget, the state government has approved new rules and regulations regarding auto insurance in the state. Starting July next year, drivers in Wisconsin have to present proof of insurance when asked by law enforcers. Failure to do so can mean fines ranging from $10 to as much as $500. The state government has also increased the minimum liability amount for all insurance policies, gaining the praise of insurers across the nation. Some critics, however, say that the … (more) August 4, 2009
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Cheaper Car Insurance for Californians
by Jeanny HopperWhen it comes to auto insurance, California is considered as one of the strictest states. Its regulations and laws governing insurance are considered as some of the most stringent in the U.S. The large number of vehicles in the state also means that insurance in California is by no means cheaper than in other states. In fact, industry sources say, auto insurance is a bit more expensive in California compared to other states. For car owners searching for affordable insurance, this can pose a problem. Fortunately, there are some steps that Californians can do to reduce the cost of insurance. … (more) August 3, 2009
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Experts Cite Three Things to Consider with Car Insurance
by Jeanny HopperAccording to insurance experts, car owner looking for good auto insurance should consider several factors. These aspects, they say, can better help motorists find the best auto insurance policy available. They also add that the three things that car owners have to consider, the type of coverage, the limits of the policy, and the price, should serve as guides in choosing the most suitable insurance policy. There are as many different coverage offers as there are car owners. Analysts say that the right car insurance policy should cater to the specific needs of the driver. Some companies offer extensive coverage … (more) August 3, 2009
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Controversial Car Insurance Ballot Irks Consumers
by Jeanny HopperA highly controversial ballot supported by a car insurance mogul is rousing the anger of a consumer advocacy group in the state of California. The proposal in question would legalize surcharges for hundreds of thousands of car owners in California. The same ballot measure would also penalize drivers who get into accidents, even if they are not held at fault. According to Consumer Watchdog, a consumer advocacy organization, the ballot proposal can ultimately lead to more uninsured motorists in California. The group called the proposal a declaration of war on the state’s drivers. They also claim that George Joseph, the … (more) August 2, 2009
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Drivers Urged to Get Rental Car Insurance
by Jeanny HopperIndustry experts are advising Americans to get additional coverage for any rental cars they may use. With entire families on vacations, they say that the chances of getting in an accident far away from home are high. Business trips can also turn into nightmares, they say, if motorists are involved in auto accidents using rental cars. Some insurance specialists also contend that while it may be a good idea to purchase insurance from the rental companies themselves, the daily costs could be prohibitive. Current rates for collision/loss damage waivers range from $15 to $30. However, getting added protection from the … (more) August 2, 2009
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Arizona Law to Take Uninsured Drivers off the Road
by Jeanny HopperThe state of Arizona is poised to make it harder for persistent uninsured drivers to get behind the wheel of a vehicle. With the number of uninsured and underinsured motorists on the rise nationwide, analysts are expressing concern that the increasing numbers can mean more costly accidents. To prevent repeat violators from taking to the road, the state of Arizona is taking steps to implement tougher restrictions. The new legislation is set to discourage the state’s residents from driving without the minimal insurance requirements of the state. Gov. Jan Brewer recently signed into law HB2224, implementing tougher penalties and restrictions … (more) August 1, 2009
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Insurance Experts Warn Against Cutting Corners
by Jeanny HopperIndustry specialists in the state of California are cautioning car owners against dropping coverage to save money. Legal experts also echoed the sentiment, saying that driving without insurance can lead to more expenses and legal troubles. With the economy showing minimal signs of progress, economists say that the economic slump can affect how Americans, particularly Californians, spend their money. Already, some car owners and motorists have started dropping their insurance policies to cut back on expenses. According to the Insurance Research Council, an estimated 18 percent of all vehicles in California do not have insurance. The figure makes the state … (more) August 1, 2009