Auto Insurance News Archive for January, 2010

• Cheaper Auto Insurance May Well Be Underway In Michigan

  by Jeanny Hopper
  

  MICHIGAN – As the state House of Representatives passed a bill in the afternoon of December 24th which aims to improve automobile insurance, Michigan customers have reason to be jolly this holiday season as they may no longer be compelled to spend on expensive premium rates for their insurance. Several gurus explain that the timing is impeccable for Michigan customers to experience a less burdensome obligation to expensive premiums as it coincides perfectly with the holiday break. For several years, car insurance prices in the state are usually pricier compared to the nationwide average. According to recent data from the … (more) January 6, 2010

• Kansas Ranks Among States with Lowest Auto Insurance Rates

  by Jeanny Hopper
  

  For the 5th year in a row, Kansas State is ranked as a leader in low rates for automobile insurance, according to the Kansas Insurance Department. According to data released by the National Association of Insurance Commissioners (NAIC), the state ranks 6th lowest nationwide for average insurance expenditures. Kansas customers, according to the same NAIC report, were found to have spent $568 on average per vehicle for insurance in 2007. The national average is $795. As of press time, no data exists for 2008. The report from last year pegged Kansas state’s spending average at $579, which reveals an improvement … (more) January 5, 2010

• No-Fault Auto Insurance in NY May See Crucial Revisions Before 2010

  by Jeanny Hopper
  

  To make New York State more efficient in combating against fraud and abuse in the auto insurance industry, State Insurance Superintendent James Wrynn submitted a draft of amended provisions covering no-fault auto insurance earlier this month. The changes in auto insurance, in which Wrynn espouses for the “betterment of all,” may be in place before the close of 2009 with much anticipation coming from motorists and auto insurance providers. Wrynn, in the draft, said that this draft had provisions which aim to spare New York car owners and drivers from being caught in the middle of payment abuse and tax … (more) January 5, 2010

• Economist and Insurance Advocate Testify to Stop Factors that Increase Premium Rates

  by Jeanny Hopper
  

  Insurance Information Institute President, Economist, and Insurance advocate Dr. Robert Hartwig, said that drivers in Michigan will keep on paying more expensive premium charges than most Americans do for auto policies until public policymakers deal with the fundamental costs causing this trend. Dr. Hartwig testified that the factors contributing to costs influencing the price of auto policies in Michigan may be the same to those of other states in the US, but one very clear exception sets Michigan apart from the rest, and that is the unlimited vault for no-fault car insurance claims. Dr. Hartwig confidently presented that current attributes … (more) January 4, 2010

• Louisiana Basic Auto Policy Requirements Increase Tomorrow

  by Jeanny Hopper
  

  More than 1 million drivers in Louisiana will be paying more expensive car insurance premium rates starting tomorrow, January 1, 2010, as a new law takes effect increasing minimum liability coverage requirement for auto or vehicle policies. The said legislation was passed last year, back in 2008. However, many motorists will be caught off-guard as news about this requirement hike only hit headlines in Louisiana during the few remaining days of 2009. Reports say that insurance providers were not mandated to inform policyholders and some of them pretty much left the notification task to be done by State legislators. Insurance … (more) January 4, 2010

• Auto Insurance Trade Group Officer Bidding to Change Wisconsin Budget Bill

  by Jeanny Hopper
  

  According to recent reports, one of the officials of an auto insurance trade organization is insisting that a Wisconsin legislator needs to do something about the pending budget bill containing provisions that will increase the state car insurance coverage requirements. Wisconsin Insurance Alliance President, Andy Franken, said that revisions need to be made to the pending legislation proposed by Wisconsin Governor Jim Doyle as it will definitely turn costs or rates of insuring vehicles for low to middle income earning drivers, higher and more expensive. Property Casualty Insurers Association of America, group composed mainly of insurance providers, have the same … (more) January 3, 2010

• Local Motorists Reminisce Positive Results of New Jersey’s Auto Insurance Reform

  by Jeanny Hopper
  

  As the year comes to an end, local motorist groups in New Jersey cannot help, but look back at how auto insurance was like in the state before Governor James E. McGreevey signed the car insurance reform law. Recent reports show a large number of policy holders thankful for this said reform and are now happily enjoying their reduced auto policy rates. Commissioner Holly C. Bakke even commented that Gov. McGreevey’s reforms continue to produce positive results for consumers. According to Bakke, the vehicle insurance market is more competitive, resulting to better businesses in the state, and premium savings are … (more) January 3, 2010

• New Year, New Laws Against Distracted Driving

  by Jeanny Hopper
  

  The Property Casualty Insurers Association of America has recently announced that the New Year will mark the implementation of new state laws that will be tougher on distracted motorists. Oregon, Illinois, New Hampshire, and Kansas are among the states that will be tougher on distracted driving come 2010. While all four states will implement new and stronger forms of legislation regarding calling or texting while driving on Jan. 1, 2010, each state still differs on the degree of restriction strictness. Among the four, Oregon is said to have the strictest regulations. Starting January 1st, young drivers below 18 years of … (more) January 2, 2010

• Senate Session Adjournment Delays Michigan Auto Insurance Reform

  by Jeanny Hopper
  

  There will be a slight delay in the implementation of the Michigan property/casualty insurance bill that was already approved by the House of Representatives as Senate adjourned before the holidays without taking action on it. This delay caused by the Senate adjournment raised contrasting and differing reactions from both pro and anti groups. National Association of Mutual Insurance Companies mid-Atlantic state affairs manager Erin Collins expressed his reaction that he is extraordinarily happy that the Michigan Senate did not discuss and set action on this legislation before ending the session. Collins said that what the Senate did buys him and … (more) January 2, 2010

• Cross-state Auto Insurance Fraud Alarms Pennsylvania

  by Jeanny Hopper
  

  The insurance fraud filed against 24 individuals raises the alarm on rate evasion. Last December 27, headlines in Pennsylvania were filled with stories of the rate evasion case filed against 17 New Yorkers, 6 New Jersey drivers, and 1 Pennsylvania motorist. Twenty-one have been arrested already while the remaining 3 are still wanted by law enforcing agencies. Rate evasion is the practice of falsifying information and submitting it to the state Department of Transportation, pretending to be residents of a state or owning a house or a garage there. Once registered or identified to be from that state, fraudsters can … (more) January 1, 2010

• Rate Evasion Case Filed in Pennsylvania

  by Jeanny Hopper
  

  Before 2009 ends, a form of insurance scam known as rate evasion has been committed and filed in Pennsylvania. Charges were already filed against 1 state driver and 23 other individuals from New York and New Jersey. Reports say that defendants are facing charges of insurance fraud for presenting fraudulent information to a government agency, applying for auto insurance using false or misleading information, and for fraudulent application for state registration. The defendants are facing possible five to seven years of incarceration and payment of $10,000 up to $15,000 worth of penalties. Defendants were already identified and arrested, except for … (more) January 1, 2010