Most Recent Auto Insurance News in Local Insurance News

• Public auto insurance the best option, if it is done right

  by Richard Burton
  

  Although the Insurance Bureau of Canada has tried convincing the British Columbians about private insurance being better than public insurance, this is not completely true. The IBC has spent four years in actively pushing the for-profit auto insurance system. It claims that the private insurance will provide much better services than ICBC. But that argument doesn’t hold good as there is tons of evidence to show that when it is done right public insurance is a much better option. The IBC represents the interests of the private insurance companies and Lindsay Olson had argued on behalf of the IBC last … (more) June 28, 2011

• Lower auto insurance rates for Manitobans by next year

  by Richard Burton
  

  By next year, most Manitobans would be paying much less by way of auto insurance premiums. This is due to the fact that there have been fewer injury claims as well as lesser thefts. MPI or Manitoba Public Insurance made an announcement on Tuesday and stated that around 91% of the drivers would be seeing a 6.8% drop in their basic auto insurance premium rates due to the sharp decrease in injury claims and costs arising out of vehicle thefts along with increased operational efficiencies. However, the rates will have to be approved by the Public Utilities Board. If these … (more) June 27, 2011

• The fall of no-fault insurance

  by Richard Burton
  

  The auto insurance crisis has been rising since recent times and is spreading like wildfire right across most of the states in the US. But what seems to have caused it? Experts feel that it is the flawed no-fault insurance system that needs to be blamed. There are a number of insurance-related issues and the root of these problems is the severely flawed no-fault system. Due to the widespread auto insurance fraud as a result of the no-fault system, a number of insurers have reduced their businesses here. Experts state that the no-fault system in New York will soon be … (more) June 25, 2011

• New federal healthcare plan is unconstitutional and intrusive

  by Richard Burton
  

  The new federal healthcare plan that requires almost all American citizens to purchase health insurance has faced a lot of criticism and is being termed as ‘unconstitutional and highly intrusive’ by the legal opposition. The opponents to this new healthcare plan state that the government cannot force citizens to pay for something like an insurance policy. If this argument continues to prevail in the court there are those who are actually looking forward to tearing up their auto insurance policies that the state of Florida makes Floridian motorists purchase year after year. In the same manner, even the flood insurance … (more) June 22, 2011

• Most people prefer to get auto insurance quotes online

  by Richard Burton
  

  J.D. Power and Associates have found that a majority of the first-time buyers prefer to obtain their quotes online, instead of taking the traditional route such as agents or call centers. The California-based company has found that for the first time over 50% of the first-time insurance buyers have actually obtained online quotes. During the 2011 US Insurance Shopping Study over 54% of the shoppers had turned to the net to obtain their first quote, but there is the majority that still purchase auto insurance through independent agents or call centers. Since the last five years and ever since the … (more) June 21, 2011

• Five economic changes that can affect consumers auto insurance

  by Richard Burton
  

  There are a number of changes that unassuming American citizens have made in the recent past without even realizing that it could affect some of the unexpected areas in their life – for example, auto insurance. Due to the recent economic crisis, Americans have made some changes in their lives, such as moving house, changing jobs, or downsizing vehicles etc. During the last year alone, at least 53% of the Americans have made certain economic-driven changes that may impact the auto insurance costs, as per the survey conducted by State Insurance Commissioners. The NAIC or National Association of Insurance Commissioners … (more) June 14, 2011

• Electronic verification likely to turn into reality very soon

  by Richard Burton
  

  As the electronic verification may turn into reality very soon, uninsured drivers may be in for a rude shock in West Virginia. Many have gotten away for years now, by just taking temporary insurance. These are also dubbed as the 90-day wonders by some people. This is done to keep the liability going until such time where they can get their registration card renewed, after which the coverage is dropped. There are those who even buy shorter terms of liability cover, states Steve Dale, Deputy Commissioner, Division of Motor Vehicles. According to a report by the Insurance Research Council, the … (more) June 13, 2011

• Lots of disparity in auto insurance premiums for young drivers

  by Richard Burton
  

  A piece of advice if you are a young driver who is below 25 years of age and if you are planning to purchase auto insurance – shop around. Auto insurance premiums generally vary from insurer to insurer and there is a lot of disparity irrespective of the age. However, the disparity is much greater when you are younger, states Des Toups who is a senior managing editor at the California-based auto insurance website CarInsurance.com. If you are a 55-year-old then you can save at least $456 on an average per year by just shopping around with multiple insurance providers, … (more) June 11, 2011

• Electronic verification for auto insurance on the verge of implementation

  by Richard Burton
  

  Drivers in the state of West Virginia driving without a valid insurance policy are going to be in for rude shock in the near future. For a long time now, people are making do with temporary three month coverage just to ensure they get their vehicle registration renewed and then discard it. Department of Motor Vehicles’ Deputy Commissioner, Steve Dale also said that there are people who buy even shorted insurance policies to save costs. As per the report from the Insurance Research Council, 13.8% is the national average for the uninsured drivers. The state of West Virginia alone has … (more) June 7, 2011

• Call for catastrophic auto insurance by Halifax lawyer

  by Richard Burton
  

  A Halifax personal injury lawyer has called upon the Nova Scotia government to boost the medical rehabilitation benefits that are given to those who suffer ‘catastrophic’ injuries in motor vehicle accidents. John McKiggan from the Atlantic Trial Lawyers Association stated that those who suffered severe injuries in accidents needed extensive medical treatment and should hence be eligible for medical benefits for about $100,000 and must additionally have income replacement of up to $1,000 for every week that the person is unable to get back to work following the accident. McKiggan has also served in an advisory committee at the Nova … (more) June 6, 2011

• A majority of people get online quotes for auto insurance – J.D. Power

  by Richard Burton
  

  Most of the first-time auto insurance buyers prefer to get their auto insurance quotes online and tend to bypass the insurance agents or the call centers, says a report from J.D. Power and Associates. The California-based marketing information services company The Westlake Village states that for the very first time over 50% of the insurance buyers have stated that they obtained their auto insurance quotes online. During an Insurance Shopping Study conducted in 2011 at least 54% of the shoppers had obtained their insurance quotes from the internet. However, there are many who still purchase auto insurance either from an … (more) June 5, 2011

• Huge variations in auto insurance premiums for young motorists

  by Richard Burton
  

  Young motorists who are below 25 years of age can easily save around $1,000 annually or even more if they compare premiums from various auto insurance providers, before signing up. All you need to do is to shop around if you are planning to buy a car and if you are below 25 years of age. You can save some mega bucks by spending some time on research. In general, auto insurance premiums vary from one insurer to another, irrespective of how old you are. But the difference in premium is quite significant especially if you are a young motorist, … (more) June 4, 2011

• Myths about auto insurance busted

  by Richard Burton
  

  Auto insurance is a complicated affair for many people. Most people are reluctant to renew their insurance and buy it on item, if it weren’t for the law. Understanding how the premiums are decided is difficult, making it even more complicated. With so much wrong information passing around, it is small wonder that insurance coverage looks unappealing to many. It is possible to crack the common myths about auto insurance and understand it better. Here are some of them: Myth one: Red cars are more expensive to insure. You may believe red cars are often spotted more in speeding and … (more) May 31, 2011

• Be smart in detecting an insurance fraud before you turn a victim

  by Richard Burton
  

  When you are in an accident you may be in too much shock to register every little fact. But sometimes you just get the feeling that something was not quite right. If in the days and weeks following it, you cannot shake off this nagging thought, then chances are that you or your insurer are victims of insurance fraud. Data from many sources say that insurance policy holders and insurance companies are incurring losses in billions every year. There are many common occurrences of insurance fraud, especially during the recession. With every kind of thief from the amateurs to the … (more) May 29, 2011

• Insurance premiums could be spiked up due to suspicious claims

  by Richard Burton
  

  Insurance premiums are likely to go up due to the increase in fraudulent or suspicious claims that insurance companies are dealing with. Most people in the insurance industry blame the financial crisis for the rise in scams. Bill LeFew who is an agent with the American Family Insurance in Harvard stated that this was due to the poor economy. He also stated that people felt tied up and had no other option and hence turned to insurance fraud. He went on to state that the auto insurance fraud had increased manifold since the recession. LeFew has worked as an insurance … (more) May 27, 2011

• Young drivers will get better deals by shopping around

  by Richard Burton
  

  Car insurance can be a difficult burden for many youngsters but now if you are below 25 years of age and looking to buy it, you can save a lot by shopping around. Insurance premiums for automobiles do tend to vary from one provider to the next. This does not mean that you cannot save on it if you know how to. When you are a young driver, the differences in prices offered by companies are really huge and considering this variable might make all the difference in cutting the costs. From data available on different websites, there is clearly … (more) May 26, 2011

• Bill to curb insurance fraud in the pipeline

  by Richard Burton
  

  With insurance fraud situations on the rise, lawmakers are being urged by business leaders to pass the legislation that will fight the insurance fraud situation. This is costing the policy holders and the state millions. The call to action came from Fraud Costs New York, which consists of a coalition of lawmakers, consumers and business leaders. They have called on the State legislature to change the auto insurance system in order to cut down on the insurance abuses and fraudulent charges which have run up to 0ver 200 million dollars last year. The New York State business Council president Heather … (more) May 23, 2011