Auto Insurance News Archive for 2009

Insurance Money-saving Tips Revealed
by Jeanny Hopper

Studies have revealed that a growing number of American car owners are making use of new ways and technology to find auto insurance. Industry sources say that the number of applicants have increased significantly in recent years, thanks largely to the internet. Most insurance providers now have fully functional websites that cater to the needs of potential clients. Majority of these companies also sell insurance policies online. The internet has also given insurers an edge over competitors, especially since more and more drivers are choosing to shop around for better premiums, rather than stay with their providers. This has generated … (more) August 9, 2009
Auto Insurance Rates on the Rise
by Jeanny Hopper

Industry sources have revealed that car insurance premiums are climbing in the U.S., thanks in part to the poor performance of the economy. With unemployment on the rise, more and more Americans are choosing to increase deductibles or even drop their policies. Insurance companies say that this is one of the main reasons for higher premiums. Because of more uninsured drivers on the road, providers point out that they have to raise insurance rates to cover any expenses involving uninsured motorists. Analysts also blame the sudden spike in insurance fraud cases for the climbing rates. California state officials recently admitted … (more) August 8, 2009
Experts Remind Americans to Maximize Coverage
by Jeanny Hopper

The poor economy and the alarming statistics regarding auto insurance has prompted industry experts and analysts to regularly remind car owners of their insurance policies. Studies suggest that the number of uninsured drivers is closely tied to the nation’s unemployment rate. With more Americans expected to lose their jobs by the end of the year, analysts say that the U.S. can expect more uninsured drivers on the road. In fact, the state of California says that an estimated 20 percent of its motorists will be uninsured by the end of 2009. The spike in the number of uninsured drivers is … (more) August 8, 2009
Firms Offer Temporary Car Insurance
by Jeanny Hopper

Major auto insurance companies are reiterating offers of temporary car insurance for car owners looking with specialized insurance needs. To help combat the economic recession hitting the U.S., providers are starting to offer special insurance policies for short-term periods. Most states allow insurers to provide clients and policyholders temporary insurance coverage for special cases. According to experts, any coverage lasting for less than a year can be considered temporary. Typically, they say, the coverage period for this type of insurance lasts anywhere from one to 28 days. Because of the harsh economic situation, more and more Americans are turning to … (more) August 7, 2009
Insurance Agents Preparing for Rocketing Car Sales
by Jeanny Hopper

As car dealer across the U.S. are trying to catch up with the skyrocketing demand for new cars, insurance agents are also preparing themselves for the expected numbers of new car owners. Even with the troubles encountered by the “cash for clunkers” program, insurance providers are expecting to see a sudden spike in the demand for new car insurance. Industry sources have revealed that agents are preparing for the arrival of car owners searching for the perfect insurance policies for their newly acquired vehicles. Earlier last week, the federal government’s Car Allowance Rebate System (CARS) was suspended on fears that … (more) August 7, 2009
Specialists Recommend Full Car Insurance Coverage
by Jeanny Hopper

Even with the U.S. economy showing signs of an early recovery from the economic recession, more and more Americans are still cutting back on car insurance. Worse, some drivers are even choosing to drop coverage just to save money. Experts say that doing so can have severe consequences especially since statistics indicate that the number of uninsured drivers is increasing dramatically with the rising unemployment rate. In fact, some states like California expect the number of uninsured motorists to balloon to 20 percent by the end of the year. More uninsured drivers on the road will mean higher insurance expenses, … (more) August 6, 2009
Experts Caution Americans on ‘Clunkers’ Insurance
by Jeanny Hopper

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
Insurance Riders Help save Money – Experts
by Jeanny Hopper

Economists 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
Car Owners should consider Auto Insurance with CARS Program
by Jeanny Hopper

The 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
Experts Give Tips for Classic Car Insurance
by Jeanny Hopper

Industry 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
Wisconsin Insurance Rules to Help Accident Victims
by Jeanny Hopper

The 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
Cheaper Car Insurance for Californians
by Jeanny Hopper

When 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
Experts Cite Three Things to Consider with Car Insurance
by Jeanny Hopper

According 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
Controversial Car Insurance Ballot Irks Consumers
by Jeanny Hopper

A 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
Drivers Urged to Get Rental Car Insurance
by Jeanny Hopper

Industry 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
Arizona Law to Take Uninsured Drivers off the Road
by Jeanny Hopper

The 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
Insurance Experts Warn Against Cutting Corners
by Jeanny Hopper

Industry 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