Auto Insurance News Archive for July, 2010

• WebTech signs WT5000 Locator contract with VeriLocation

  by Jeanny Hopper
  

  WebTech Wireless Inc. now starts a contract with their distributor, VeriLocation Inc., to supply the latter company over 10, 000 WT5000 Locators for one of their business ventures with a leading insurance company in the United Kingdom. WebTech Wireless, the leading telematics technology and vehicle fleet location-based services provider, had announced their signing of the contract with the UK-based distributor last Friday, and they have already completed an early delivery of 2, 000 WT5000 Locator units last June. This contract was the outcome of VeriLocation having won a three-year contract with one of the leading insurance companies in the UK, … (more) July 15, 2010

• Getting Lower Insurance Rates

  by Jeanny Hopper
  

  Having auto insurance would not only give you the peace of mind while driving on your state’s roads, but also the financial protection you would need in case you unfortunately get yourself in a car accident. But auto insurance rates tend to be so expensive that it would become more of a financial worry than a benefit. Fortunately, there are methods you could use to lower your insurance rates to more affordable levels. Here are a few good tips and tricks to make sure that your insurance company would give you lower auto insurance rates for your car: Be … (more) July 14, 2010

• 6 Companies Top Vehicle Service Contract and Auto Insurance in the U.S.

  by Jeanny Hopper
  

  Several Personal Auto Insurances in U.S. is dominated by six companies. Accordingly these six companies top the Vehicle Service Contracts industry and those offering Auto Insurance policies. The six companies are the Allstate, State Farm, GEICO, Farmers, Progressive, and Nationwide. They were named after their good performance in their own field of specialization with it comes to their service rendered to their customers. State Farm is a mutual company possessed by its policy holder accounts for the highest share with 17.8%. AllState which sells insurance and non-insurance products as well is behind with 11%. GEICO’s share is 7.7% which earned … (more) July 13, 2010

• The necessity for Teenage Auto Insurance

  by Jeanny Hopper
  

  It is not untrue that opting for teenage auto insurance can burn a hole in your pocket. However, you can ignore the importance that it carries, especially in the present day. It not only offer protection to your car, but also covers your teenager is case of any auto accidents. If you are a family-oriented person, you will understand that there is nothing more than the safety of your children that matters. If not anything, if you opt for a teenage auto insurance policy, you can be rest assured that the financial liabilities in case you child meets with a … (more) July 12, 2010

• GEICO Presents Its New Officers

  by Jeanny Hopper
  

  GEICO or the Government Employee Insurance Company is an insurance corporation from the Berkshire Hathaway group of companies. It is known to be one of the largest private insurance companies in the nation. It is currently holding vehicular insurance policies for about 9 million American citizens and is holding about 16 million vehicles insured. Recently, the Government Employee Insurance Company or the GEICO has promoted and announced four new officers in various departments. It has informed the public that Terry Jenkins had now became the vice president and is responsible for the real estate and facilities management. Steve Otrosky and … (more) July 11, 2010

• Monitoring System Endangers Consumer’s Privacy

  by Jeanny Hopper
  

  Progressive Corp., one of the largest auto insurance company in the United States and is currently holding the fourth place, have been reported to file a federal court case against Liberty Mutual Group Inc. Progressive Corp. is an Ohio-based auto insurance company as the Liberty Mutual Group Inc. is a Massachusetts-based auto insurance company. Progressive Corp. says that Liberty Mutual Group Inc. has committed a copyright violation on one of their car monitoring systems. Progressive Corp. shows that it has received patent rights on a car monitoring system, known as the Patent 970, in 2000. The said vehicle monitoring system … (more) July 10, 2010

• Tampa Ranked 2nd in Staged Accidents, NCIB Shocked

  by Jeanny Hopper
  

  Tampa—Florida frauds have been reported to just keep on “popping” from all over the state. Frauds are most likely supplied by the country’s state of great recession and economic depression since auto insurance frauds are quite the quickest way of earning money these days, despite the fact that it is known to be highly risky. In fact, reports to Ron Poindexter, the president of the National Insurance Crime Bureau or the organization known simply as NCIB, claim that Florida has been flooded with thousands of people who purposely bang their vehicles on walls, trees, posts and other possible objects that … (more) July 9, 2010

• IGS and NCIB Joins Forces to Supervise Portfolios

  by Jeanny Hopper
  

  Illinois—The International GNSS Service (formerly known as the International GPS Service), also known as the IGS, has finally joined forces with the National Insurance Crime Bureau, otherwise identified as the NICB, to provide auto insurance companies and lenders a full service supervising answer to these companies’ lending portfolios. IGS is the leading company that offers skip tracing, asset location and collateral recovery services in the country. This company is under the Portfolio Recovery Associates, Inc. which is concentrated on locating or finding vehicles, for allocating repossession and for recovering the collateral for the lenders’ vehicles. It has a comprehensive and … (more) July 8, 2010

• GEICO Hunts for Fraud No-Claims Cases in NY

  by Jeanny Hopper
  

  The Government Employee Insurance Company, otherwise known as GEICO, has filed a court case against no-claims suspects which operated in Kew Garden in New York last June 11. In the claim, suspects ask for radiological services payment which they forwarded to a medical professional corporation that has been charged to be clandestinely held and managed by nonmedical people. The complaint reported on the United States District Court for the Eastern District of New York was a $1.8 million worth of compensation and treble damages as set upon by the Federal RICO statue and the communal law of New York. They … (more) July 7, 2010

• The Battle Waged by Auto Insurers Continues despite Proposition 17’s Rejection

  by Jeanny Hopper
  

  Auto insurers have waged a battle to ease the regulations that allows drivers to carry the discount on continuous coverage with them when they switch carriers. They have already spent over $16 million; however, they still see no respite despite the rejection of Proposition 17 by the voters of the state. The counting of the votes ended early on Wednesday. 52% of the voters rejected the initiative as against the 48% who voted in favor of it. The auto insurers faced defeat despite spending millions of dollars to garner supporters. This tough battle between the auto insurers and the customer … (more) July 6, 2010

• Shop Extensively To Save More On Auto Insurance

  by Jeanny Hopper
  

  One particular type of shopping that does not interest a lot of people is shopping for auto insurance. In fact, most people are so averse to shopping for a good policy that they stay with their current insurer for years despite the increase in premiums each year for the same policy they hold. However, it is important to know that shopping for a good coverage is the best way to save a significant amount of money on your policy. And considering the tough economic times, who would not like the lure of some extra money? The average cost of auto … (more) July 5, 2010

• Serious Privacy Concerns Brewing Due To Vehicle Monitoring Systems

  by Jeanny Hopper
  

  The fourth largest auto insurance provider in the United States has filed a federal lawsuit averring motor vehicle monitoring system patent infringement. This has brought to spotlight the many privacy concerns that arise due to this system. This system has been designed to collate data about the customer’s driving practices. The information thus collected is used during programs for ticket and accident forgiveness. This information has also proven to be useful to determine the premiums for the most recent ‘pay as you drive’ insurance. Progressive Corp., an auto insurance provider based in Ohio, has filed this lawsuit accusing Liberty Mutual … (more) July 4, 2010

• Intentional Clashes Increase The Number Of Insurance Frauds In Florida

  by Jeanny Hopper
  

  One of the auto industry groups has said that an increasing number of policy holders in Florida are crashing their card on purpose so they can file for medical claims. This has led to an unprecedented increase in the number of insurance frauds over the past few months. The National Insurance Crime Bureau, in its statement on 28th June, 2010, said that in the year 2009, 58% of the accidents were staged. In the city of Tampa alone these accidents quadrupled and stood at a whooping 487. Joe Wehrle, the President of NICB said that initially it was just the … (more) July 3, 2010

• Sneak peak at Auto Insurance scenario in Wisconsin

  by Jeanny Hopper
  

  Telling people what the auto insurance law states is one of the easiest things to do. Our legislators have penned down an extensive set of rules and regulations and even published those so all citizens can read through them. The toughest part is living with the consequences of the laws that have been drafted.  All states of the United States, excluding three have set the minimal requirements for the auto insurance policy in order to it to be considered legally abiding. These states also have a law that states that an auto insurance policy is a must for people who … (more) July 2, 2010

• Auto Insurance During The Holidays

  by Jeanny Hopper
  

  When the holiday season is just round the corner, people are busy drawing up menus for the impending feast. The last thing that one would have on mind is the auto insurance policy, unaware of the important role that it has to play during the holiday season. This can be a grave mistake considering that it is at this time the traffic on roads are more than the usual number and the chances of mishaps occurring are high considering the number of people who drive after a round of drinks with their friends. The roads are filled with drivers who … (more) July 1, 2010

• Price No More A Factor That Decided Auto Insurance Satisfaction

  by Jeanny Hopper
  

  Though it cannot be denied that price does play a crucial role while buying an auto insurance policy and also has a significant impact on the final decision, it definitely is not an indicator for auto insurance satisfaction. One of the most recent industry studies has revealed that though twelve months ago the price did affect the satisfaction scores, it is not the case anymore. The United States Insurance Shopping Study released by J.D Power and Associates in the month of May 2010 shows that nearly 41% of the people choose a particular insurance provider because of the price they … (more) July 1, 2010