Auto Insurance News Archive for 2009

• Oklahoma has New Insurance ID System

  by Jeanny Hopper
  

  Recent data from research are suggesting that more Americans are resorting to potentially dangerous measures to cut back on expenses. In the latest surveys conducted by car insurance analysts, a large percentage of motorists have expressed the possibility of increasing their deductibles to save on insurance costs. Some respondents have even expressed willingness to drop their coverage entirely. Officials from Oklahoma estimate that some 20 percent of vehicles on the state’s roads and highways do not have updated insurance. Experts say that uninsured drivers are more likely to be involved in a car accident that insured motorists. The presence of … (more) July 14, 2009

• Experts Remind Drivers about Rental Insurance

  by Jeanny Hopper
  

  With many Americans hitting the road this summer vacation and many more renting cars abroad, insurance specialists are warning motorists to be cautious. Rental vehicles might not be covered by their insurance policies, experts add. Some rental companies offer dozens of insurance options but experts say that these can often trick drivers into believing that they will be covered. But that is not often the case, they say. Checking the wrong items can lead to costly mistakes like purchasing the wrong coverage. Motorists can even miss gaps in coverage. To avoid these, insurance analysts recommend that policyholders contact their providers … (more) July 13, 2009

• Safer Cars Mean Lower Premiums, Insurance Experts Say

  by Jeanny Hopper
  

  The economic recession is forcing many Americans to cut back on expenses. Unfortunately, auto insurance has not been spared, with many drivers choosing to increase deductibles or avoid renewing their policies at all to save money. Experts are warning, though, that skimping on a few hundred dollars could lead to thousands more in car repair or liability claims. To avoid these, specialists say that car owners and policyholders should take note of steps to reduce insurance costs. Safer cars mean lower premiums, they add. Insurance providers prefer motorists who have taken measures to improve their cars’ safety. Automatic seatbelts, Anti-lock … (more) July 13, 2009

• Recession Forces Motorists to Stick with Same Insurers

  by Jeanny Hopper
  

  Industry analysts say that more Americans are choosing to retain their car insurance providers instead of shopping around. Apparently, the economic recession is making many motorists cautious and forcing them to stick to familiar faces, they add. A recent survey conducted by J.D. Power and Associates revealed that drivers and consumers are now hunkering down, expecting that the worse is still to come. As a result, the number of Americans looking for new insurers has declined steadily in the previous year. The numbers have since then stabilized in the first few months of 2009. In 2008, more than 36 percent … (more) July 12, 2009

• Car Insurance Money-Saving Tips Offered to Motorists

  by Jeanny Hopper
  

  The continuing economic recession is forcing many Americans to cut back on expenses, including car insurance. While many policyholders have increased their deductibles to lower premiums, some have chosen not to renew their policies at all. For experts, this represents a dramatic shift in consumer mentality. They explain that despite the economic troubles, drivers should never risk fines, or spend entire fortunes on liability claims if the inevitable happens. To give consumers a better chance at coping with the tough economic situation, auto insurance providers and industry experts have teamed up to present drivers with simple suggestions they say could … (more) July 12, 2009

• Consumers Told: Research Key to Lower Premiums

  by Jeanny Hopper
  

  Despite the bleak outlook on the economy, experts say that consumers can still get lower insurance costs by simply doing their homework before deciding on a provider. Recent data suggests that more and more Americans are choosing to increase their deductibles in hopes of reducing their insurance expenses. Some motorists even drive without renewing their policies, something prohibited in almost all states. Specialists say that drivers should be aware of the important factors companies look into before coming up with insurance quotes. They also contend that the few hundred dollars many motorists skimp on to avoid buying insurance can lead … (more) July 11, 2009

• Insurance Experts Warn Against Not Reporting Accidents

  by Jeanny Hopper
  

  Auto insurance specialists are cautioning drivers against failing to report traffic accidents to their providers. Because of the economic recession, more and more Americans are choosing to increase deductibles and even discontinue their car insurance policies to save money. Some motorists have even gone so far as to settle damages with other parties outside insurance companies. Experts are now warning drivers against the consequences of not filing claims or reporting car accidents, even minor ones. They say that although being involved in an accident means higher premiums in the future, this is actually better than dealing with damage costs personally. … (more) July 11, 2009

• Bad Credit, Driving Record Affect Car Insurance Premiums

  by Jeanny Hopper
  

  In a time where more and more Americans are choosing to increase deductibles or even forego renewing their car insurance policies, experts warn that some factors can contribute to higher premiums. The bleak economic situation is forcing many motorists to cut down on expenses, car insurance included. Many policyholders renewing their policies are also choosing to increase their deductibles in a bid to get lower premiums. Recognizing the desperation of many drivers across the nation, industry specialists are cautioning motorists against compounding their financial problems by having spotty driving records. Experts say that a driver’s record is one of the … (more) July 10, 2009

• Philadelphia Tagged Collision City

  by Jeanny Hopper
  

  A recent research by a large auto insurance provider revealed that the city of Philadelphia is one of the riskiest cities for car crashes. The 193 cities were examined to determine the frequencies of accidents that occur there. Overall, Philadelphia ranked sixth among the cities. It, however, topped the list among the 10 largest cities in the U.S. Philadelphia’s policyholders are on average, involved in car collisions every 6.4 years. New Yorkers, by comparison, get into car crashes every eight years while Clevelanders and Sioux Falls, S.D., average 10.7 and 13.5 years respectively. Residents in Washington D.C. get involved in … (more) July 10, 2009

• Affordable Car Insurance for Teenagers Explained

  by Jeanny Hopper
  

  Auto insurance experts say that because more teenagers are involved in accidents, car insurance companies slap higher premiums on them. Providers rely on several factors to come up with an insurance quote for young drivers. Statistics, studies, and driving records all come into play when insurers assess the risk teenaged drivers pose. According to recent surveys, the average cost for insuring a teen driver in the U.S. is about $2,000 per year. States with higher incidents of car accidents involving teen drivers generally have higher insurance costs for young drivers. Experts say, however, that some companies also generate insurance quotes … (more) July 9, 2009

• Experts Say Research Reduces Car Insurance Costs

  by Jeanny Hopper
  

  The poor economic situation is forcing many Americans to look for ways to cut down on expenses, according to industry analysts. Tougher economic conditions have taken their toll on motorists, forcing many to increase deductibles or worse, drive without car insurance. Majority of auto insurance specialists say that buying a policy is still the best way to go since not having one can actually be more expensive in the end. In many states, driving without insurance is punishable by fines, penalties, and even jail time. Insurance companies also increase premiums for motorists convicted of not having proper insurance coverage. In … (more) July 9, 2009

• Illinois Looking to Stop Uninsured Drivers

  by Jeanny Hopper
  

  Faced with increasing numbers of uninsured drivers, the state of Illinois is trying to figure a new way to prevent uninsured motorists from getting behind the wheel. Despite tougher legislation enacted two years ago, more Illinois drivers are taking to the road despite not having updated insurance coverage. The state imposed stiffer penalties including taking away the driving rights of motorists caught without the proper papers. Recent figures, however, have shown that in those two years, more than 115,000 motorists have lost their licenses for not having proper insurance. In 2008, some 68,000 drivers were suspended while about 31,000 have … (more) July 8, 2009

• Texas Introduces New Car Insurance Database

  by Jeanny Hopper
  

  Faced with increasing numbers of uninsured drivers, the state of Texas has put in place a revolutionary new system to help enforcers catch motorists driving without insurance. Because of concerns that more vehicular accidents will involve uninsured drivers, four Texas departments have teamed up to identify uninsured cars on the state’s roads and highways. The state’s Department of Transportation, Department of Public Safety, Department of Insurance, and the Department of Information Resources have pooled their resources together to create a new statewide database of live auto insurance policies. Dubbed TexaSure, the system matches policies provided by some 200 companies with … (more) July 8, 2009

• Experts Remind Drivers about Car Rental Insurance

  by Jeanny Hopper
  

  With the arrival of the summer vacation, more and more American families are taking long drives to vacation spots all across the nation. A significant portion of these families as well as many other professionals also go on lengthy car trips for business reasons. Vacationers are also noted for renting cars from local establishments to avoid the inconvenience of driving hundreds of miles or overspending on taxi rides. In recent years, car rental companies have made a killing because of the rising demand for rental cars among businessmen and even families going on long road trips. The car insurance industry … (more) July 7, 2009

• Experts Remind Drivers of What to do after Accidents

  by Jeanny Hopper
  

  In recent weeks, there have been reports of more Americans dropping their car insurance policies because of the deteriorating economy. Industry analysts say that the trend is resulting in more car accidents involving uninsured or underinsured drivers. The Insurance Information Institute also released data revealing that uninsured drivers are ten times more likely to be involved in car accidents than insured motorists. The number of uninsured drivers has also risen significantly in recent months because of the recession. As a result, some drivers may not be able to avail of better coverage if they are involved in a car crash. … (more) July 7, 2009

• Massachusetts’ “Managed Competition” Program Assessed

  by Jeanny Hopper
  

  After two years in existence, the state of Massachusetts’ new car insurance system continues to receive mixed reviews from industry experts, insurance agents, and drivers alike. The “Managed Competition” system was put in place by the state government through the Division of Insurance in April 2008 to help bring down the cost of car insurance. State officials had hoped that the new system would encourage more carriers to enter the auto insurance market and spur lower rates because of increased competition. Already in its second year, the program has earned both praises and criticism from many residents and figures in … (more) July 6, 2009

• Experts Warn Drivers to be Cautious this July 4th Weekend

  by Jeanny Hopper
  

  Industry experts are warning millions of Americans hitting the road this Fourth of July Weekend to be extra careful while driving. Because of the sheer volume of vehicles using the nation’s vast system of highways, car accidents will be more common this weekend, they say. The holiday environment can also result in more intoxicated drivers on the road. Driving analysts also add that fatigue from long drives coupled with distractions in the car can make many drivers lose concentration, potentially causing major car crashes. The presence of children and electronic devices like mobile phones and GPS devices can also distract … (more) July 6, 2009