Auto Insurance News Archive for June, 2010

• Michigan Auto Insurance Customers Need A Chance To Tailor Auto Insurance Policy

  by Jeanny Hopper
  

  Would you like to live in a place where you have to mandatorily purchase champagne worth $250 when you go out to dine? Of course, not! However, the people of Missouri are biting their teeth and living through this craziness. The auto insurance providers in this state have to offer only the costliest insurance policies to people looking for policies. The rule by the government coupled with other growing concerns like the high unemployment rate and dwindling economy has made life tough for the citizens in this state. Though the people do get the option to claim to the maximum … (more) June 29, 2010

• Increase In Medical Costs Leads To The Downfall Of No Fault Auto Insurance Policies

  by Jeanny Hopper
  

  Once a very popular and highly sought after auto insurance policy, the no fault auto insurance, is now losing its face because of its inability to meet the desired expectations as per the results of one of the recent studies conducted by RAND. A number of customers opted for this policy in the past since they thought it would reduce their auto insurance premiums and curtail court costs. However, they soon began to realize that this was not how the policy functioned. The objective of the no fault auto insurance policy was to bring down the amount of money being … (more) June 28, 2010

• Automobile theft declines, Insurance rates down

  by Jeanny Hopper
  

  According to the National Insurance Crime Bureau (NICB) in 2009, auto theft declined nationwide for the sixth consecutive year.  The NICB, headquartered in Des Plaines, Ill., is a nonprofit organization funded by the insurance industry with a mission of preventing, detecting and defeating insurance fraud and vehicle theft through information analysis, investigations, training, legislative advocacy and public awareness.  Joe Wehrle, NICB president and chief executive officer said, “This is great news on the vehicle theft front. Six straight years of vehicle theft reductions are the result of a lot of hard work on the part of law enforcement, prosecutors, legislators, … (more) June 27, 2010

• Auto Insurance Purchased Online Growth Trend Continues

  by Jeanny Hopper
  

  Despite soft consumer demand, U. S auto insurance policies purchased online up seven percent in 2008 versus year ago. A leader in measuring the digital world, comScore, Inc. released a study of online activity for the auto insurance market in 2008. It showed that consumers submitted requests for 32 million online quotes and purchased a record 2.4 million policies online during the year. Due to weaker consumer demand in the current economic environment, the number of quotes requested online declined by one percent. Regardless of that instance, the number of auto insurance policies purchased online increased by seven percent. This … (more) June 26, 2010

• States Require Car Insurance

  by Jeanny Hopper
  

  Statistics show a rise in the rate of traffic accidents even though people drive fewer miles. With this scenario, forty-seven states require at least have some kind of car insurance. A driver and a car owner must have knowledge at least about the law that requires insurance. Auto insurance takes some of the pain out of an accident and pays all the big bills, including medical expenses. In all but three US states, everyone is required to carry a minimum level of liability insurance. Failure to insure is usually a criminal offense. In some states, the courts can confiscate your … (more) June 25, 2010

• Motorcycle Safety Awareness Month

  by Jeanny Hopper
  

  May is considered the nation’s Motorcycle Safety Awareness Month. It is the month of motorcycles and motorcyclists across the country. U.S. House of Representatives pass House Resolution 269, which designates May as Motorcycle Safety Awareness Month. This month motorcyclists are ready for the warm weather, with helmets ready and engines reviving. This is the month that gives opportunities for them to ride their bikes again.  However, whether you enjoy riding you Harley-Davidson, Honda, Kawasaki, Suzuki, Yamaha, Ducati or something else, motorcycling can be ultra enjoyable when done in a safe manner. During this safety awareness month, GEICO (Government Employees Insurance … (more) June 24, 2010

• Auto Insurance At Large

  by Jeanny Hopper
  

  According to a December 2009 report from the National Association of Insurance Commissioners (NAIC), the average cost of automobile insurance declined by 2.6 percent in 2007. The District of Columbia had the highest average expenditure ($1,140), followed by New Jersey ($1,104), Louisiana ($1,096), New York ($1,047) and Florida ($1,043).  Based on 2007 NAIC data, seventy six (76) percent of insured drivers purchase comprehensive coverage in addition to liability insurance, and seventy-two (72) percent buy collision coverage. In 2007, based on average automobile insurance expenditures of NAIC, D.C. ranked number one as the state that has most expensive automobile insurance with … (more) June 23, 2010

• Car Insurance is in Mandatory by Law

  by Jeanny Hopper
  

  Insurance experts warn that with more underinsured and uninsured drivers on the road, it could only be a matter of time before they get in accidents involving law-abiding car owners. Exactly, few people realize how important it is to have their vehicles insured. Moreover, the present situation aggravates the decreasing number of people that owns car insurance; to cut back on many expenses and due to the poor economy. To save money, there have seen dramatic changes in the way car owners buy insurance according to Industry analysts. Worse, some drivers have decided to decline insurance altogether. In fact, some … (more) June 22, 2010

• New Car Safety Ratings will Increase the Rate of Car Insurance

  by Jeanny Hopper
  

  Two major research bodies plan to advance the car insurance plan. If the plans of safety ratings take effect car owners may soon find it more difficult to get cheaper insurance. Tougher safety ratings can have negative effects on most car models’ assessment, since auto insurance company’s premiums largely on risk. The Insurance Institute for Highway Safety or IIHS is the insurance industry’s main safety research arm. It is responsible for setting the safety standards and for testing how safe cars. Insurance providers rely heavily on the findings of the IIHS. Presently, the institute’s rating system has three major levels, … (more) June 21, 2010

• Auto Insurance Extras

  by Jeanny Hopper
  

  Economic hard times such as rising prices of petroleum, the cost of food and other basic necessities for living shooting up, and job market shrinking are just few of the global problems we are facing right now. However, with all of these daily problems facing as day by day, still a lot of people can’t do without their car. For those people who live in the suburbs and has to commute, public transport is indeed inconvenient and expensive. As a result, these people tend to save money on planning to buy their own vehicle. For those of you planning to … (more) June 20, 2010

• Checking your Auto Insurance during Holidays

  by Jeanny Hopper
  

  A lot of people enjoy the holidays especially in meeting up with family and friends. In planning for the different big holiday celebrations, the main focus of the people tends to be on planning the menu for the feast, buying the food and deciding as to who will be responsible for bringing the alcohol. However, inline with the concern as to where to celebrate and how to get there, a lot of people don’t even care to check their auto policy as if they are 100% sure that nothing will go wrong with their insurance. Be aware and avoid this … (more) June 19, 2010

• Good Driving History Covers less Expensive Insurance Policies

  by Jeanny Hopper
  

  The cost of auto insurance policies receives complaints from most consumers below the age on 25. The younger generation of working class finds the cost of insurance very high. Most of them believe that the insurance rates they are paying are very high and for some families it is already beyond their budget. It is very important to have auto insurance especially for the owners of automobiles. Each company and each policy has its unique coverage scheme for specific consumers depending on their needs and preference. With this information, experts suggest that consumers must look for the suited auto insurance … (more) June 18, 2010

• Auto Insurance Payments, No Grace Period

  by Jeanny Hopper
  

  Like any other insurances, health care, life   and even auto insurance premiums give no grace period when it comes to payment. Imagine that you delay the payment of your insurance what if a day late and you have an accident, what will happen? Nowadays, more and more auto insurers are linking late bill payments with auto insurance rates. Those with poor credit or late bill payments are most likely to get higher auto insurance rates. Also, cancelled insurance policies due to late payments will make you pay more. But it will not prevent you or disqualify you from getting one. … (more) June 17, 2010

• Optional Portions of Auto Policy Now Covers Flood-Caused Damages

  by Jeanny Hopper
  

  According to the Insurance Information Institute (III) drivers whose vehicles get caught in floodwater can file a claim with their auto insurer as long as they have collision and comprehensive coverage.  Michael Burry, Vice President of Media Relations said that it is optional to avail an auto insurance according to the policy or depending on the state you are residing, for some may think that it may also increase the cost of insuring a car. However, one must consider also that it will also cost more to repair a vehicle soak in a flash flood especially when the damage is … (more) June 16, 2010

• Guide To Acquiring Your Own Car Insurance Now Available

  by Jeanny Hopper
  

  Acquiring car insurance for your vehicle is probably one of the most important things you as a driver must do. On the other hand, car insurance may also elicit al lot of cash from your pocket mainly for the reason; you have to pay for the premiums in exchange for the protection and coverage they offer you for possible loss and liabilities you may encounter in the future. It is good for you to remember that as a driver, the substantial amounts of cash you have paid to your auto insurance companies can be claimed in case you involve yourself … (more) June 15, 2010

• Best Premium Offers Now Online

  by Jeanny Hopper
  

  The amount paid or payable by a buyer, often in installments, for an insurance policy are callled premiums. Different insurance companies base on statistics charge their customers who are policyholders the value of the price of the premiums. That is the very reason why prices of the premiums as payments vary. Some of the determinants of bases of premium charges are: gender, age, marital status, years of driving experience, classification of vehicle, distance the vehicle travels and car specifications. These aforementioned examples are the usual factors that determine the value of the price of the premiums; a buyer has to … (more) June 14, 2010

• New online systems track outlaws

  by Jeanny Hopper
  

  Uninsured motorists can be tracked down by the new online systems. It is a pressing issue for the state to know how many uninsured drivers are on the road. According to data compiled over the past decade by the Insurance Research Council, about one in seven drivers or vehicle owners have no insurance. Consider this situation, a party that has no insurance when met an accident, the injured parties will shoulder the burden. Loren McGlade, the chairman of insurance companies stated that some states use random sampling where they send a list of vehicle to insurance companies and confirm whether … (more) June 13, 2010