Auto Insurance News Archive for July, 2011

• Local motorists get tips on overcoming auto accidents from PTL insurance brokers inc from California

  by Richard Burton
  

  Now residents of California will get a few lessons from PTL Insurance Brokers Inc. which is a local independent California insurance agency. It continuously strives to improve the services they provide to the community as a whole. The CA Department of Insurance and California insurance agents know the traffic scenario and the associated problems, and hence, they know the solutions as well. There is bound to be traffic congestion in a place that has a population of 37 million, where the land mass spans around 840 miles in length. Added to this, are the 5-lane highways, expressways, as well as … (more) July 31, 2011

• Heralding the end of insurance fraud in Staten island

  by Richard Burton
  

  All of us want the lowest car insurance premiums with the best coverage. Shopping around for the best insurance policies will work to a very large extent, but short cuts such as registering outside the state will not work anymore. Now, there is a legislation to bring down this practice and this is more likely to be turned into a law. There would be tough penalties that would also include a 15-year jail term. Sen. Diane J. Savino D-North Shore/Brooklyn who is the bill’s co-sponsor stated that the bill was given more teeth in order to discourage fraudsters to stop … (more) July 30, 2011

• Gap insurance coverage to cover bad credit auto loans

  by Richard Burton
  

  Gap insurance certainly makes sense for the approved auto loans. When it is regarding bad credit auto loans, most people find it difficult to decide if they need to purchase gap insurance. Most people who have been in the bad-credit auto sales are aware of this and are also familiar with these situations. In the last few years,they have managed to help hundreds of buyers with no credit and help them get approvals for the no credit auto loans from Auto Credit Express. Here, they will get help to pass on a ‘tote the note’ loan and also help them … (more) July 29, 2011

• Free auto insurance coverage for buyers

  by Richard Burton
  

  Now, automakers are coming up with fresh ideas to attract buyers. One of the largest automakers GM, in collaboration with MetLife, is giving customers an offer that they cannot refuse. New car buyers will now get free auto insurance for a period of one year, from General Motors Co. in collaboration with MetLife. In an announcement made last month, GM stated that this offer has been designed to give customers value-added services by making things more affordable and also streamlining the car buying experience. Auto insurance is an expensive affair and that is one of the biggest challenges faced by … (more) July 28, 2011

• State auto insurance company to leave R.I. – will benefit local insurers

  by Richard Burton
  

  State Auto Insurance Company has decided to pull out of R.I. as well as reduce all its offerings in Massachusetts. But, this move might actually help the local insurance companies. The Columbus, Ohio-based company has decided not to write any home, auto, or business insurance policies in Rhode Island. The company will no longer offer insurance cover in Massachusetts and it is continuing to adjust to its affiliation with the Patrons Mutual Group of Connecticut. Narragansett Bay Insurance Company is now in an arrangement with State Auto and will extend offers to the State Auto customers of both states beginning … (more) July 27, 2011

• New York city has the highest auto insurance rates in the US

  by Richard Burton
  

  According to a study released by an online auto insurance quote provider, New York City is the most expensive city in the whole of US, to buy auto insurance. The Tri-State members New Jersey, New York, and Connecticut have the highest auto insurance premiums throughout the country. There are a number of factors that have contributed to these high auto insurance rates such as, poor traffic conditions, high crime rates, as well as high population density. New Jersey has continuously been ranked number one for 3 years in a row. But New York as well as Connecticut has also ranked … (more) July 26, 2011

• Protection for volunteer drivers at charities through legislation

  by Richard Burton
  

  There is a legislation that has been co-sponsored by a couple of North Jersey lawmakers and it would offer protection to volunteer drivers at charities. It will help in keeping the auto insurance rates low due to the volunteer work they are involved in and it would also help in limiting their liabilities in the event of an accident. However, the sponsors of the bill as well as the non-profit groups that are advocating the passage of this bill agree that there is no evidence that insurance companies are increasing auto insurance premiums for volunteers or that they are facing … (more) July 25, 2011

• Online auto insurance releases list of states and cities with bad towing practices

  by Richard Burton
  

  The online auto insurance company has advised customers to look out for signs of poor towing practices after results were published by Property Casualty Insurers Association of America or the PCI. Unscrupulous tow truck operators take stranded motorists for a jolly ride in Chicago than in any other part of the nation, as per the survey. The poll has also found that the towing and storage charges had skyrocketed and were always inconsistent throughout the nation. This was the biggest challenge faced by consumers. New York City, Philadelphia, and Chicago were considered to be the worst cities nationwide as they … (more) July 24, 2011

• No-fault car insurance is most disliked by people

  by Richard Burton
  

  There is a huge crisis in the auto insurance sector that is spreading like bushfire all over the nation. But, who is to blame for this fiasco? It is the flawed no-fault insurance system, state insurance experts. All the auto insurance problems are due to the faulty system in no-fault insurance and this is the root of the problem state critics. There is widespread auto insurance fraud in states like Florida due to the no-fault insurance. Some of the insurers have reduced the amount of business they do here due to the widespread fraud. If urgent steps are not taken, … (more) July 23, 2011

• Luxury car owners now claim farm-use discounts from auto insurance companies

  by Richard Burton
  

  A company which verifies policyholder data for auto insurance companies has found out that insurance companies are losing out about $150 million by way of unpaid premiums each year due to the application of farm-use discounts on luxury vehicles. If you go by the latest versions of farm vehicles you would be in for a surprise as you are likely to find a Mercedes, BMW, Porsche Carrera etc. None of us would expect to see these high-end vehicles pulling tillers or spraying pesticides, or hauling fertilizers between rows of corn. But, this is what their owners have listed these vehicles … (more) July 22, 2011

• Helmet law repealed by Michigan senate but conditionally

  by Richard Burton
  

  It has been a decades-old dream for motorcyclists in Michigan to ride without a helmet. With the passage of the bill by the Senate, they are now closer to realizing that dream. Now, those who are over 21 years of age need not wear a helmet while riding but it comes with some conditions. It has been approved on a bipartisan vote (24-14) but those who wish to ride without a helmet will have to fulfill other requirements. They have to purchase medical payment coverage of $100,000, which would translate to around $1,000 if we go by today’s rates. As … (more) July 21, 2011

• GM offers free auto insurance to help new car buyers

  by Richard Burton
  

  Uninsured motorists pose a serious problem especially in states like California. So, General Motors (GM) is trying out an experiment in two states where it will help insure new car buyers. It is conducting this test in Washington and Orlando and new car buyers in these states will receive free auto insurance for one year. This is an offer from GM and the policy would be offered by MetLife. The policy also includes the physical damage coverage and liability. It exceeds the requirements in both the states. This offer is on 2010, 2011, and 2012 Buick, Chevrolet, GMC, truck, Cadillac … (more) July 20, 2011

• Buy a GM vehicle and avail free car insurance

  by Richard Burton
  

  In the middle of the raging price war that is on amongst the auto insurers including majors like AllState, Progressive, and Geico, there is some good news for those who purchase a GM vehicle. General Motors (GM) has teamed up with MetLife to tackle this price war and has announced that it will offer free auto insurance for those who purchase vehicles from GM motors. But the offer is on only until the 6th of September and is extended only in Washington and Oregon as of now. GM would be observing this program keenly and will rollout this program on … (more) July 19, 2011

• Auto thefts are on the decline and is the lowest since 1967

  by Richard Burton
  

  Auto thefts in the US have reached the lowest levels since 1967. There had been a drop of 7.2% during 2010. It is the 7th consecutive year that there has been a decline in auto thefts and this is largely due to the safety features as well as measures taken by the police force. This has acted as deterrents state experts in the auto insurance sector. The number of thefts has declined steadily. The figures were at 794,616 during 2009, but there has been a decline of 7.2% during 2010, as per the preliminary reports from the National Insurance Crime … (more) July 18, 2011

• Auto insurance would be tied to helmet law debate

  by Richard Burton
  

  The auto insurance representatives from Michigan have stated that they will oppose repealing of the state’s motorcycle helmet law, but would want to discuss the no-fault reforms with Governor Snyder. In the fallout in the state Senate vote with regard to allowing motorcyclists to ride their bikes without helmets, Governor Snyder has stated that he will consider the matter in a broader perspective, after looking at the no-fault insurance reforms. Governor Snyder has not disclosed any further details, but the insurers do have a rough idea. The insurers want the state to repeal the requirement that every motorcyclist should have … (more) July 17, 2011

• Auto insurance – add-ons that you may consider

  by Richard Burton
  

  All states have a minimum liability cover that motorists are required to carry. However, your insurance agent is also likely to offer you a number of add-ons or ancillary coverage which may be optional. While some of them are certainly worth the extra costs there are a number of them that are simply not worth it. It is better to investigate these 5 add-ons if you decide to purchase insurance and it includes: -          Gap Insurance – This insurance will offer protection if in case, you owe more money on your car than what the insurer will pay you in … (more) July 16, 2011

• Rental car insurance covered by credit cards

  by Richard Burton
  

  In the auto insurance sector the rental car insurance is also better known as loss damage waiver or collision insurance but it has been derided by experts in this field as the cash cow for car rental companies. Rental cars need not be insured unlike the primary vehicles. There are some auto insurance policies that can provide partial coverage to rental cars. There are a number of exclusions and the damage waivers are not entirely the comprehensive cover that one can expect as it is full of exemptions such as exclusions for property damage and higher deductibles. The credit card … (more) July 15, 2011