Auto Insurance News Archive for October, 2010

Auto insurance premiums due to increase again due to failure of texting law
by Richard Burton

HLDI, Highway Loss Data Institute claims that the new implemented texting law or texting ban last September 28, 2010 does not reduce car accidents. However, the support has been intended through scientific data’s of insurance representing and defending citizen’s safety and economic stability. The Insurance Institute for Highway Safety together with HLDI dedicates its mission to reduce property damage, injuries and deaths. These duos strongly agree and recommend insurers to strengthen auto insurance policies. The results further depend on the ownership and operation on the types of vehicles and existing insurance loss by brand and model. There are about ninety … (more) October 14, 2010
Increase in Auto Insurance Related To Rise in Medical Bills
by Richard Burton

It is well known that government run national health care systems are wasteful and corrupt. Over the last 30 years the profit driven industries have become increasingly corrupt. The private medical systems are draining the casualty insurance industry and thereby causing a hike in the insurance rates for policy holders. In certain democracies like Scandinavian countries and Canada doctors are paid employees and are paid about $100,000 per annum. The state funds their education. Here, the doctors don’t have to deal with private insurers, nor do they have to worry about being in good books with the shareholders. They have … (more) October 13, 2010
Auto Insurance, Accident Details and Its Repercussions
by Richard Burton

In the event of an accident, there are many key factors which influence the costs which can vary for those involved in a crash. Though, being involved in a crash is a cause for a worry to many motorists, the actual costs vary from one situation to another. According to the National Highway Traffic Safety Administration, in the United States alone there has been a 5.3% decline in accident rates between the years 2008-2009. While on one hand, this could mean some good news, the scenario is still quite scary with around 5.5 million crashes during the same period. Motorists … (more) October 12, 2010
IIHS: Older people drive safer, less likely to file auto insurance claims
by Richard Burton

Reports from the Insurance Istitute for Highway Safety revealed that drivers aged 70 and above tend to drive safer. Only a few number of elderlies are involved in fatal crashes and thus only a few of them files auto insurance claims. Senior drivers seem to drive safely since most of them pay cheap auto insurances. When your granny takes the driver seat, don’t be scared, instead feel safe and secured as research show older people drive safer. In a report by the Insurance Institute for Highway Safety (IIHS), it is revealed that only a small number of elderly driver files … (more) October 11, 2010
Men are getting better auto insurances than women – Research
by Richard Burton

Now, even in the area of auto insurance, there is battle between sexes. Post Office Car Insurance (POCI) recently commissioned a research which aimed to study which between men and women are more into getting a comprehensive car insurance. The research revealed that men have the first hand with regards to having a comprehensive auto insurance. With a percentage of 58%, men seem to possess such a policy more than women who gained only 44%. Post Office Car Insurance is at the front line in the promotion of rendering a comprehensive insurance policy as an effective way of protection against … (more) October 9, 2010
Automobile Insurance Rate Decreases as Car Stealing Decreases
by Richard Burton

There seems to be a direct-proportional relation between Auto Insurance rate and Auto Theft incidents as authorities say decreasing records of automobiles being stolen cause the Auto insurance rate to lessen. For the past six years, incidents of auto theft have been decreasing in the whole-wide USA, based on reports by the National Insurance Crime Bureau (NICB). NICB, an organization which takes charge in investigating incidents of auto insurance fraud and theft, has been working hard to decrease, if not totally eliminate, the incidents of car stealing across the country. NICB President and CEO Joe Wehrle said the collaborative efforts … (more) October 8, 2010
Be Forewarned: Law Mandates Auto Insurance
by Richard Burton

Car owners’ excuses for not getting their autos insured will no longer be accepted as car insurance is now mandated by law. Many drivers in the United States neglect having their cars insured due to several reasons. Firstly is the financial constraint. The average rate for auto insurance cost is $1550. The rate, however, changes rapidly from time to time, and varies from state to state. And of course, the aforementioned rate is just the average; the driver’s age, location, gender, and driving skill are vital considerations in taking auto insurance. These considerations may increase or decrease the cost of … (more) October 7, 2010
Auto Insurance vs Credit Scores
by Richard Burton

This is a common topic talked about by many credit card holders with auto insurance. The question, “does my credit score affect my auto insurance,” seemed to be popularly heard around. And some will answer the affirmative. But then other people could not see any relation between driving and the debts owed. Some people support this view as there isn’t any actual reason or explanation that will put these two things together logically. Insurance companies have found out that the FICO scores, credit card scores developed by Fair Isaac Corporation (FICO), are basically reliable sources for their customers’ ability-to-pay status. … (more) October 6, 2010
Auto Insurance Fraud Revealed
by Richard Burton

Motor vehicle theft has a high impact on insurance claims trends. In its 2008 report, NCIB states that owner give-ups skyrocketed in five major cities, including Houston, Las Vegas, Phoenix, Los Angeles and Chicago. Furthermore, it was reported that the number of these cases is still increasing. New York State’s Fraud Bureau, which is similar to Florida and Wisconsin, reported a one-third growth on the number in fraud cases were committed in 2008. National Insurance Crime Bureau (NICB) states that thieves no longer smash windows and break cars to steal. There are now new ways of stealing cars which are … (more) October 5, 2010
Auto Insurance and Car Costs Made Cheaper
by Richard Burton

Auto insurance remains as burden to thousands of American drivers and car owners. Some claim that they are paying for their cars too much and can’t handle further cash outs. Not only do they have to keep up with the premium payments, they also have to set aside certain amounts of their cash for gasoline, repairs and penalty fees. Others don’t avail of the insurance, despite the laws requiring them to have one, because they are confident about their ability as professional safe drivers. Auto insurance holders complain more than the prices. They complain that there are certain terms that … (more) October 4, 2010
Debate Remains – Who Would Pay the Auto Insurance
by Richard Burton

Insurance premiums for teenagers are more expensive than premiums adults pay. The main reason is that teenagers have a higher risk of getting into injuries and accidents. Now using economy rules, the higher the risk, the higher the cost. In Helium.com, the responsibility of paying the premiums is laid on two groups of people: teens and parents. The debate remains and created several points used as defenses by the two group advocates. “Parents” Advocates: Teenagers are parents’ responsibility until the children becomes of legal age and leaves home. Auto insurance is included in the costs parents must incur while raising … (more) October 3, 2010
Realistic Tips to Avail Discounts in Auto Insurance
by Jeanny Hopper

Automobile insurance is a highly competitive industry and there are very good chances that one may find lucrative deals and discounts. Almost all the insurance companies promise a good deal for their customers and claim to be the best in the market. The first step is the confidence building measures to reach a comfortable spot and earn a good reputation with their customers. Once they are established they can afford to dish out a variety of options for their customers and make good and sustainable insurance packages and offers excellent deals for their customers. Good advertising and publicity in the … (more) October 2, 2010
Insurance Plans for Young Adults
by Jeanny Hopper

While being a parent is one thing, being a parent of a young adult is another. Add to it the cost of their ever increasing costs and demands. It can be quite demanding to be a parent of a young adult. Cost of raising kids, expenses on food, clothing, education, etc and added to that the extra costs such as driving lessons, obtaining a drivers license, maintenance of a two-wheeler or four-wheeler. Any vehicle, especially a four wheeler needs to be covered adequately by insurance. Here are a few tips to get affordable and budget-friendly insurance plans for young adults: … (more) October 1, 2010