Auto Insurance News Archive for 2010

• Car Safety Innovations That Are Expected to Reduce Insurance Costs

  by Jeanny Hopper
  

  Mercedes Benz, a luxury automobile brand known for cutting edge automotive technology is now developing technologies that can make driving safer, ultimately causing a dramatic reduction in serious injuries and deaths due to collisions.  Its new prototype named Experimental Safety Vehicle is packed with innovative safety features that have never before been seen in the automotive industry, which can initiate a downward movement in auto coverage costs. The car in essence becomes a massive airbag before a collision to prevent serious injuries to the driver and passengers. Basically the car has built-in video cameras and sensors around its chassis that … (more) March 16, 2010

• New Bill Can Take Uninsured Drivers off Oklahoma Roads

  by Jeanny Hopper
  

  New legislation that has recently been approved in the House of Congress can discourage or deter uninsured Oklahoma drivers from hitting the road.  With the new bill, drivers who get pulled over by police officers and upon verification are found not to have auto coverage can have their vehicles towed.  This new law is the brainchild of Oklahoma representative, Steve Martin, who has received numerous requests and appeals in the past from constituents to institute measures to protect insured drivers from drivers without auto insurance policies. In addition, the Oklahoma Department of Public Safety has equipped all patrol cars with … (more) March 15, 2010

• Increasing Auto Insurance Rules May Give Policyholders a Harder Time

  by Jeanny Hopper
  

  MICHIGAN – The idea that introducing more automobile insurance rules will make life easier for drivers is a farce, according to Pete Kuhnmunech, Executive Director of the Insurance Institute of Michigan, Lansing. Singling out Michigan State Representative Barb Byrum, Kuhnmunech said that the legislator is not prioritizing what really matters. He said that Byrum’s promotion of increased regulation and tighter price controls is actually detrimental to the “stable” insurance industry job market. This industry provides jobs for an estimated 55,000 residents. Ohio, however, has taken advantage of the impending scenario by offering an “extensive public information campaign” to attract some … (more) March 14, 2010

• Maryland Auto Insurance Fund May Be Disputed by Maryland Senator’s Bill

  by Jeanny Hopper
  

  MARYLAND – Anne Arundel Democrat Sen. John C. Astle intends to file a bill to curb the spending practices of the Maryland Automobile Insurance Fund (MAIF). The Maryland lawmaker will take initiative to end the firm’s practice of giving out bonuses to managers and workers, as well as hiring lobbyists on their behalf. At the Joint Appropriations Committee hearing earlier this month, the MAIF justified using $74,000 to spend on outside lobbyists from 2008 to 2009. Moreover, MAIF also justified internal changes allowed by their board of directors to lessen restrictions to give out employee bonuses. About $1.4 million in … (more) March 13, 2010

• Alabama Auto Insurance Information

  by Jeanny Hopper
  

  You finally get to buy your own car and you are obviously excited to drive around already. However, did you know that in Gainesville and the rest of Alabama where you live, you are not supposed to be driving a car while you are still uninsured? The state of Alabama is actually strict in implementing the law on auto insurance that policemen are tasked to do random surveys to make sure that everyone is covered. It is important to able to show an insurance card or bond certificate so you can keep your registration. What does it take to get … (more) March 12, 2010

• Check Before Signing Up With Credit Card Offers on Collision Coverage

  by Jeanny Hopper
  

  Financial experts have always cautioned drivers about extra rental car insurance programs, saying that these are borderline scams.  Car rental companies offer customers such coverage for $15 to $25 a day, which is hardly practical.  If you have auto insurance coverage or own a credit card, you normally wouldn’t worry about car damage liabilities.  It is a known fact that some auto insurance policies cover customers in accidents or collisions even where they are not using their own cars.  In addition, many credit card companies are willing to pay for the additional expenses that are not covered by your auto … (more) March 11, 2010

• New Bill May Mean Cheap Insurance Rates for West Virginia Drivers

  by Jeanny Hopper
  

  A new bill which recently passed the Senate, could provide much needed relief to West Virginia drivers who for the longest time have been paying one of the highest auto insurance premiums in the country.  In fact, the average auto coverage fee in the state is double that of most states.  With the new bill, police officers would be required to equip their patrol vehicles with online devices that have access to active insurance policies in the state.  If an uninsured driver gets caught by police, his registration would be nullified in addition to paying hefty fines.  Supporters of the … (more) March 10, 2010

• Auto Coverage Premiums to Rise Further

  by Jeanny Hopper
  

  Auto insurance premiums for the past two years have been steadily rising in most parts of the country.  With the current trend not showing any signs of slowing or reversing, consumers should expect auto insurance coverage to further rise.  Experts highly recommend drivers to scout for the cheapest premium rates to get the most out of their money. Some states have seen dramatic increases in insurance fees, with Montana among the highest, registering hikes of as much as 12.9%, depending on the model of the vehicle.  Some cars, most notably imported brands, are assessed with higher premiums due to their … (more) March 9, 2010

• Florida Number One in Auto Insurance Fraud Cases

  by Jeanny Hopper
  

  Florida has now gained the unenviable distinction of being the number one hotspot in the US in terms of auto insurance fraud.  The past six months have seen a surge in fraudulent claims and staged accidents in the state according to the National Insurance Crime Bureau. These incidents have been a cause of concern for some time now for Floridian authorities and insurance companies.  Unfortunately, it is the innocent drivers who ultimately are affected and who are made to suffer in the end. The spate of dubious claims has led to a spike in insurance premiums in the state, as … (more) March 8, 2010

• Drunk Drivers in Maryland May Soon Have to Carry Increased Liability Insurance

  by Jeanny Hopper
  

  Persons who have been convicted twice of driving under the influence of alcohol will be compelled to avail of increased liability insurance, if the legislator’s bill of Carroll County in Maryland is passed into a law. Republican District 5A Del. Tanya Shewell, who is a sponsor of the bill, is in favor of requiring persons who have had two drunken-driving convictions to avail of liability insurance worth $100,000 (for one individual injured or killed in a road mishap) and up to $300,000 (for two or more individuals injured or killed). Additionally, these persons will also be required to carry $100,000 … (more) March 7, 2010

• Top 10 Most Expensive and Least Expensive Vehicles to Insure Named – Based on ’09 Data

  by Jeanny Hopper
  

  Several car models have been cited as the best cost-effective choices to ensure cheaper auto insurance rates, according to financial advisory site Doughroller.com. There are many factors, other than the automobile owned, that go into consideration that determine the cost of car insurance monthly premiums including location, age, credit history, gender, driving history and occupation. These categories, when broken down even further, reveal several variables which determine rates. However, one of the biggest factors is the car itself. Generally, auto insurance providers use the same criteria when they determine insurance costs for a certain brand or vehicle. Theft is the … (more) March 6, 2010

• North Dakota has 3rd Lowest Auto Insurance Rate in US

  by Jeanny Hopper
  

  According to Insurance Commissioner Adam Hamm, North Dakota state has the 3rd lowest automobile insurance rate in the entire nation. The official results were reported by the National Association of Insurance Commissioners’ in their recently issued “Auto Insurance Database Report (AIDR) 2006/2007.” This report, though seemingly outdated, is the most recent official report from the national association. In the report, North Dakotans pay 28 percent lower on average than the national average for auto insurance. The annual auto insurance expenditure in the sate is $657.63. The national average is $911.84. Hamm expressed that the result is a testament to the … (more) March 5, 2010

• Driver Safety Courses to Improve Driving Habits of Elderly Drivers

  by Jeanny Hopper
  

  Much has been said of the risky driving habits of elderly folks, and a lot of driving jokes have been created at their expense. It is a taken that older drivers have on average slower reaction times and weaker eyesight than younger drivers.  However one other pressing problem with this age group is that a good number of them are not aware of many important traffic rules. Many senior drivers admit to not having attended driving classes and seminars to update themselves of new traffic and road rules.  AARP Driver Safety Program, since 1979 has helped educate drivers and are … (more) March 4, 2010

• Lowering Your Auto Premiums Through Credit Repair

  by Jeanny Hopper
  

  Credit score to many consumers, is a tool to get mortgage loans at reasonable rates.  However, not many people know that credit scores can also impact auto insurance premium.  In general, the higher your credit score is, the lower your auto insurance premium. Credit score encompasses almost all facets of your financial life.  It is thus important to maintain a good credit score since it can open doors of opportunities for you to make your life easier and more convenient. Auto insurance companies look at credit scores when they’re computing for insurance premiums.  This practice has been opposed by many … (more) March 3, 2010

• Insurance Agents Group and Automobile Club Warns Against Potholes

  by Jeanny Hopper
  

  According to the Independent Insurance Agents & Brokers of America, it is estimated that about $4.8 billion each year is used to fix damages caused by potholes in the U.S. Around half-a-million auto insurance claims are also filed annually because of this hole-in-the-road. Aggravated by the weather and extreme snowstorms, potholes which normally occur during springtime are already causing trouble amongst motorists. As such, it is noted that there is a record number of potholes in the streets of Virginia and other states affected by the snow. Martha Meade, AAA Mid-Atlantic’s Manager of Public and Government Affairs implied the hazards … (more) March 2, 2010

• Two Sentenced for Multi-Million Dollars Auto Insurance Fraud

  by Jeanny Hopper
  

  At least two people were sentenced by a Sacramento Court last February 23 for offering service which “for all (its) intent and purposes,” was automobile insurance. This was stated by Assistant U.S. Attorney Russel Carlberg and R. Steven Lapham in a joint statement after a U.S. District Court sentenced James Sidney Kalfsbeek, 72, and Donna Jean Rowe, 59, into 10 and four years of federal imprisonment respectively. Kalfsbeek, a resident of Arbuckle, was found guilty of mail fraud, money laundering and conspiracy last June. He was a former Colusa County Supervisor. He also founded and served as chairman of the … (more) March 1, 2010

• Auto Insurance Claims Rise After Snow Storm

  by Jeanny Hopper
  

  It seems that aside from snow, auto insurance claims had also been piling-up in the State of Maryland. With a record breaking snowstorm that hit the state last February 10, the second in a week, the Baltimore area and north-center Maryland accumulated at least 19.5 inches of snow after the storm. Baltimore City had been under Phase 3 status which means that no vehicles were allowed to be driven on streets aside from those owned by the city. Insurance agents estimated that the blizzards had taken at least $830 million of the state’s economy. Damage to vehicles had been on … (more) February 28, 2010