Auto Insurance News Archive for 2011

• Over $10 billion losses annually due to uninsured drivers

  by Richard Burton
  

  Every state in the country has made it mandatory for citizens to carry a valid auto insurance policy when they drive a car. Despite this, over 14 percent of the drivers flaunt this mandatory requirement without the fear of being caught, partially due to the shaky economic situation, thereby putting the lives and property of people in grave peril. According to data from the Insurance Research Council, the rate of uninsured drivers in the state of Wisconsin stood at 15 percent. The latest data made available by the National Association of Insurance Commissioners has revealed that the people with insurance … (more) September 23, 2011

• Michigan residents not happy with the proposed changes to the no-fault auto insurance

  by Richard Burton
  

  Michigan is one of the few states in the country which has a high effective no fault car law. This law is so functional that it serves a model for other states that would like to bring this into effect. However, despite the fact that this law is highly popular, Michigan lawmakers are in a hurry to make changes, citing the fact that it will reduce overall cost. The residents are crying out loud against this move because the law is not defective for it to be repaired. The No Fault law in Michigan has a privately funded system to … (more) September 22, 2011

• Auto insurance providers increasing coverage premiums in Texas

  by Richard Burton
  

  Most of the major auto insurance providers in the state of Texas are considering increasing the premiums for the car insurance policies. This, they say, is being done due to the losses sustained and the revised liability limits that can into implementation early this year. Every state in the country has a set of minimum liability that has to be covered by every company that offers auto insurance coverage in the state. These minimums vary across the states and can be revised if deemed necessary. Texas is one of the states that have brought about some new minimum liability rules … (more) September 21, 2011

• Michigan legislature likely to debate on changes in auto insurance

  by Richard Burton
  

  Michigan has a unique auto insurance system and changes in this system of coverage for people who are injured in accidents, is likely to come up for debate in the Michigan Legislature. As of now, Michigan is the only state in the whole of US, which mandates unlimited coverage for those who have suffered catastrophic injuries in a motor vehicle accident. Currently, there are proposals to offer auto insurance that is less expensive in exchange for limited PIP coverage. Those who are in support of bringing about this change (including auto insurance providers themselves) state that this would help motorists … (more) September 20, 2011

• Auto insurance – No credit check auto insurance hard to find

  by Richard Burton
  

  Earlier, auto insurance providers would reward customers who had a good driving record, credit history, and paid insurance on time. However, all of that seems to have changed now as auto insurance providers no longer seem to care if you keep up to your payment schedule and have a good credit record etc. In the present scenario, in case you or your spouse lose your job due to the economic downturn, auto insurance companies will still nail you with a hike in premiums or even cancel your policy. However, one fails to understand the connection between credit history and auto … (more) September 19, 2011

• MetLife auto welcomes GM auto insurance

  by Richard Burton
  

  MetLife Auto & Home has welcomed a direct marketing proposal from General Motors that facilitates auto insurance to new car owners. In an effort to enhance its brand image, General Motors incepted MetLife Auto policy that would cover liability and physical damage coverage and serve new GM customers for models Chevrolet, Buick, GMC or Cadillac. It is presumed the marketing campaign will help the distribution force of independent agency, as well. The proposal is currently extended to Washington and Oregon. However, several independent insurance agents have raised concerns regarding the marketing gimmick. Bob Rusbuldt, president and CEO of IIABA (Independent … (more) September 18, 2011

• Low cost auto insurance coverage from west coast to be promoted

  by Richard Burton
  

  With an estimated 400,000 people in California driving in absence of auto insurance policy, Department of Insurance is planning to launch a major promotional campaign, later this year. It will focus on options that would facilitate lower cost premiums for drivers who struggle to pay the rising insurance costs. Pat McConahay from the California Department of Insurance said, “We have to have billboards. We hope to have some advertising. We have been doing some outreach on campuses.” When asked the reasons for a large-scale promotion, she responded: “If we get pulled into a road accident and hit by somebody who … (more) September 17, 2011

• How well did auto insurance measure up this year

  by Richard Burton
  

  In April, with the enactment of vetoed coverage-related bills in Mississippi and Montana, the average prices of the policies increased marginally and Arizona banned crash taxes.  This step was taken in response to a latest published report, stating that in 2009, One in Seven American drove uninsured. The most recent Consumer Price Index report indicates that the cost of insuring an automobile climbed only one-tenth of a percent between February and March. However, the cost of the auto insurance policies in March 2011 was four percent greater than March, last year. A new study conducted nationwide in relation to uninsured-motorist … (more) September 16, 2011

• DOT – Better implementation of laws results in lowering distracted driving incidents

  by Richard Burton
  

  In an effort to restrain unfocused driving, a number of communities across the country have increased the presence of law enforcement personnel on the road. As per the National Highway Traffic Safety Administration in Hartford, Connecticut and Syracuse, New York, fewer instances were reported by police officers reported for sidetracked driving after powering up their awareness program for distracted driving. In Syracuse, cell phone usage while driving was dropped by a 1/3rd, in presence of higher numbers of police patrolling the roads. In Connecticut, the numbers declined by 57% when police enforced heightened driver distraction program. According to NHTSA, Hartford … (more) September 15, 2011

• Drivers urged to exercise caution by tegner-miller insurance brokers

  by Richard Burton
  

  Tegner-Miller Insurance brokers are now encouraging motorists to drive safely by educating them on safe driving practices. Now, the brokerage is acting swiftly to educate citizens about the traffic-related deaths that seem to rise in the month of August. These brokers want to ensure that the clients are well protected while they are on the roads. It does not occur to anyone that they can be involved in an accident or that their loved ones could be involved in a serious crash and when it happens it can be really shocking. Motorists, who are sometimes lucky, manage to escape without … (more) September 14, 2011

• PIP auto insurance system in Florida goes out of control

  by Richard Burton
  

  Kevin McCarty, Insurance Commissioner, Florida has given a bleak outlook of the PIP auto insurance system that seems to have spiraled out of control in the recent times. The benefits that have been doled out on the PIP claims seem to have skyrocketed to a whopping 70% since 2008, while the number of licensed drivers has remained the same, and even though the accidents have decreased. The massive hike in PIP payments which was about $2.37 billion in 2010 when compared to $1.43 billion in 2008 is due to the rise in fraudulent practices and due to the abuse of … (more) September 13, 2011

• Auto insurance companies and lawyers battle over the auto insurance bill

  by Richard Burton
  

  Last year, 38-year-old, Samuel Milons Jr., was killed by a driver in Milwaukee. The driver suffered a seizure and lost control over the vehicle and crossed the median killing Milons. Following Milon’s death, Angela Minerick his fiancée racked up credit card debt as she could not afford to pay up the rent on their Milwaukee townhouse. However, Minerick who is a funeral director is far more secure with the thought that her son Samuel III will be able to afford college. According to the auto insurance law of 2009, Minerick was allowed to stack two of her auto insurance policies … (more) September 12, 2011

• Another auto insurance discount initiative gets the backing of mercury chairman

  by Richard Burton
  

  Last year, voters had turned down the auto insurance initiative, which was bankrolled by Mercury. However, Mercury wants to give it another try. This week, the California attorney general’s office released a summary of the proposed initiative that was submitted by Mike D’Arelli, who is the executive director of American Agents Alliance, which is an insurance trade group. This is an initiative that is somewhat similar to the Proposition 17 that was defeated during the June 2010 elections despite the fact that Mercury spent around $16 million on a media campaign that was carried out throughout the state. The new … (more) September 11, 2011

• Review auto insurance to prevent fraud claims suggests Lloyd’s

  by Richard Burton
  

  The leading auto insurance provider Lloyd’s, reported a steeping incline in fraudulent claims. This can be a chief reason for elevating auto insurance premiums. What is more alarming is the fact that the fraudulent car insurance claims are on the rise across the globe. As the insurance companies are exposing escalated number of fake claims, the situation is deteriorating around the world. The Insurance Information Institute of the United States approximates that fraudulent claims constitute over 10% loss each year in the auto insurance industry. How would these frauds affect us when we review or compare auto insurance quotes? Examples … (more) September 10, 2011

• North central insurance agency launches interactive website

  by Richard Burton
  

  North Central Insurance Agency (NCIA) has a legacy of serving affordable and comprehensive Minneapolis auto insurance. The agency’s mission statement is to provide hassle-free insurance for old and new car owners. They have demonstrated their commitment by launching an entirely redesigned, interactive website. The new design offers a more comprehensive source of insurance information and services for prospects and customers. The website hosts an extensive array of useful articles and insurance glossary that facilities the easy flow of information to the insurance buyer. These resources will answer the frequently asked questions related to auto insurance. With interactive features like multiple … (more) September 9, 2011

• Car thefts on the rise during summer –safeguard it with auto insurance

  by Richard Burton
  

  The law enforcement agency is pairing up with insurance companies, community organizations, and concert venues this summer to fight against auto theft. The Denver police department reported a stealing of over 500 cars just last month alone. Now, Denver police squad has teamed up with Coloradans against Auto Theft (CAAT) organization in an effort to prevent auto theft. It is a statewide programme to teach the public about what they can do to diminish their odds of becoming a prey to the auto thieves. GPS will be employed to keep a watch on the neighbourhood, and bait cars to trail … (more) September 8, 2011

• Advertise your auto insurance with BrokersWeb enhanced pay-per-click targeting platform

  by Richard Burton
  

  The top provider of pay-per-click (PPC) services, BrokersWeb, Inc. has launched a superior market targeting tool for auto insurance providers. The platform allows customers to maximize their promotions for increased exposure to their auto insurance products. The high rate of conversions and ROI is achieved by targeting prospects residing in a defined demographic outline, within particular zip code(s). BrokersWeb’s advanced PPC campaign management leverages the advantage to target and engage the customers who meet an advertiser’s desired parameters. Further, the advertisers can amend their proposals for improving their position on the search engine listings, thus increasing the frequency of their … (more) September 7, 2011