Auto Insurance News Archive for October, 2009

• Insurance Claims Expected to Rise in October

  by Jeanny Hopper
  

  Sources from the auto insurance industry say that providers are expecting the number of insurance claims to rise significantly with the onset of fall. According to experts and analysts, statistics indicate that more motorists file for insurance claims during fall and winter, starting in the month of October. This trend has held true for several years now and some experts fear that several factors may affect policyholders in the U.S. this fall season. According to statistics, 10.4 percent of all car insurance claims are filed during the month of October. Analysts point out that increasingly shorter days may result in … (more) October 6, 2009

• California Insurance Officials under Fire for Weak Rules

  by Jeanny Hopper
  

  Consumer advocates and environmental groups are criticizing how California Auto Insurance Commissioner Steve Poizner is handling the implementation of insurance laws in the great state. According to critics, Poizner has failed to fully implement some provisions voted on by car owners more than two decades ago. Despite news that the state would soon adopt a “pay-as-you-drive” policy to give policyholders more chance to save money from their insurance, some analysts say that California is wasting precious time. They contend that while the kinds of vehicles being driven in the state have changed a great deal since the 1960s, how Californians … (more) October 5, 2009

• New Law Set to Reduce Accidents, Insurance Costs

  by Jeanny Hopper
  

  Federal insurance regulators and members of the Congress are readying plans to introduce a new legislation that would limit the use of electronic devices such as cell phones while driving. Citing independent studies conducted by private companies, Senator Chuck Schumer introduced the Avoiding Life-Endangering and Reckless Texting by Driver’s (ALERT) Act in order to reduce the cases of accidents caused by driver distraction. The said bill is now undergoing discussion in the Congress and is expected to pass amidst much debate. If passed, the legislation would require state governments to enact provisions that would ban the use of mobile phones … (more) October 5, 2009

• South Carolina Deals with Auto Insurance Fraud

  by Jeanny Hopper
  

  Even with the national insurance premiums average at its lowest level in more than a year, the number of insurance frauds in the state of South Carolina continues to rise. According to officials from the state’s insurance department, there has been a steady increase in the number of suspected fraud cases reported since 1995. The news comes as insurance providers cautioned policyholders against resorting to false claims. Insurance industry experts point out that throughout the U.S., insurance fraud is costing millions of Americans billions of dollars each year. Insurance companies are also taking it particularly hard since frauds contribute to … (more) October 4, 2009

• High Insurance Rates Linked to Occupation

  by Jeanny Hopper
  

  A policyholder’s job may have everything to do with how much he or she will pay for car insurance. According to a recent study conducted by researchers, a driver’s educational attainment and current occupation is mostly to blame for high premiums in many states. The study suggests that insurers often depend on their policyholders’ jobs to determine rates. Some providers base premiums on the risks associated with certain occupations, supported by scientific research and statistical data. In recent years however, insurers have shifted to an entirely new basis. While the providers still rely on the motorists’ occupation and education level, … (more) October 4, 2009

• Federal Government to Act on Distracted Driving

  by Jeanny Hopper
  

  The Obama administration is poised to take a harder stance against distracted driving, according to Transportation Department officials. According to Transportation Secretary Ray LaHood, distracted driving has resulted in close to 6,000 fatalities last year and at least half a million injuries. A large majority of those incidents were caused by drivers using their cell phones. Officials called on the Congress and the public to find ways to reduce the risk distracted driving has on the nation. Even representatives from the auto insurance industries joined in on the issue, adding that most accidents are caused by drivers losing their concentration … (more) October 3, 2009

• Policyholders in South Caroline Face Legal Problems

  by Jeanny Hopper
  

  Car owners and policyholders in the state of South Carolina may run into some problems if they file for insurance claims. According to legal and insurance experts, the state has a long history of civil suits filed by policyholders against insurance providers. Most of these cases have resulted in decisions still used by providers and the courts to come up with appropriate rulings. Many of these cases dwelt on the issue of uninsured and under insured drivers. The state’s insurance laws, analysts say, have caused a great deal of confusion for many residents and car owners. According to experts from … (more) October 3, 2009

• Texans See Some Rates Drop, Increase

  by Jeanny Hopper
  

  Some car owners residing in the state of Texas have seen their Texas auto insurance premiums go down in recent years, thanks in part to the use of ZIP codes by many insurance providers. According to the state insurance department, however, average car insurance rates in Texas have actually risen in the past two years. In fact, a recent survey found out that insurance premiums have risen an average of 7.3 percent last year. This year, more providers are expected to post higher rates because of a variety of reasons. Industry experts say that rising medical costs and a host … (more) October 2, 2009

• Military Servicemen Told to Check Car Insurance

  by Jeanny Hopper
  

  Insurance officials and insurance agents are reminding members of the armed services to review their auto insurance coverage before deploying overseas. The National Association of Insurance Commissioners (NAIC) called on military personnel to evaluate their current insurance coverage to ensure that their families are fully protected even when they are abroad. Commissioners of the different state insurance departments said that members of the armed services must check their current coverage because of their unique situation. Most personnel are deployed overseas for months at a time. Failing to secure proper insurance can lead to gaps in their family’s coverage. Analysts also … (more) October 2, 2009

• Consumers Unsatisfied with Their Auto Insurance

  by Jeanny Hopper
  

  Many consumers feel that they do not get the best deal when it comes to auto insurance. More consumers express dissatisfaction because of high premium rates and the way insurers compute their auto insurance costs. According to a recently published report by Experian, 79 percent of consumers who participated in the survey said they felt that they were paying too much for their policies. Additionally, cheap auto insurance becomes more significant in tougher economic times. For this reason, respondents say they continually seek better deals which provide the best coverage in relation to cost. Among drivers polled, 54 percent said … (more) October 1, 2009

• Legislation Out to Protect Domestic Violence Victims when Buying Car Insurance

  by Jeanny Hopper
  

  When buying car insurance, you are mandated by law to give out your exact current address, right? Not necessarily. There are cases when this is not required at all, for the benefit and the protection of the person purchasing the policy. Just like Wanda Roman, one of the many American citizens required to purchase car insurance, she was asked to give out her exact current address. However, Wanda could not afford to do so because this would just allow her ex-boyfriend/stalker to discover where she was presently residing. It is precisely because of this and other related reasons that state … (more) October 1, 2009