Most Recent Auto Insurance News in State Insurance News

• Key aspect of auto insurance laws in Florida

  by Richard Burton
  

  Florida like the rest of the 50 states in the country has its own set of insurance laws which must be followed by all the citizens who drive on its roads. Firstly, vehicle owners should purchase auto insurance only from those providers who are authorized to sell insurance in Florida. Secondly, those who move from another state to Florida are not allowed to hold on to the same policy while driving on the Florida roads. In fact, everyone must carry sufficient insurance coverage as mandated by the laws in Florida. The specific limits which are mandatory for vehicle owners in … (more) March 6, 2011

• Debunking common insurance myths

  by Richard Burton
  

  Consumers might be able to save a lot of money as they get to know the real facts about auto insurance from the Insurance Information Institute.  The institute has debunked some of the myths about auto insurance, the coverage, and the costs.  There are a good number of factors that might hike up your insurance costs.  However, none of these facts mentioned below will ever increase auto insurance costs or coverage.  They are: Color of the vehicle – the color of the vehicle really does not matter at all.  It could be race car red or grandma beige – it … (more) March 5, 2011

• Illinois house committee rejects a greater minimum for car insurance

  by Richard Burton
  

  Some people are of the opinion that the requirements of coverage which are mandatory in Illinois should change after they have remained stagnant for more than 20 years now. However, the insurance industry begs to differ because a higher minimum for car insurance only means there will be more motorists who would venture out without a car insurance. On Tuesday, it was the opinion of the insurance industry that was chosen over the other argument as the House Insurance Committee rejected the Leitch’s House Bill. The bill had aimed to increase the liability coverage that must be possessed by Illinois … (more) March 2, 2011

• Fundamentals of auto insurance laws in the state of Arizona

  by Richard Burton
  

  Every state in the United States has specific laws governing the auto insurance policies and the state of Arizona is not different. There are state specified minimums that every auto insurance policy in Arizona should cover in order to ensure validity and credibility of the policy. According to the laws of the state of Arizona, the drivers who drive along the highways should have liability coverage that is purchased from one of the insurance providers in the state who have the relevant permits to conduct business in this region. In case, a driver is caught without the relevant auto insurance … (more) February 28, 2011

• Claims and catastrophes caused a drop in Allstate profits

  by Richard Burton
  

  Catastrophes, coupled with increasing number of auto insurance claims from policy holders has pulled down the net profit of Allstate Insurance by 43%. The total for the fourth quarter of 2010 stood at just $296 million as compared to the net profit of $518 million that this insurance provider had announced in the final quarter of 2009. The operating income for the last quarter of 2009 was reported at $592 million while the operating income for the corresponding period in 2010 was $271 million. Despite the huge difference in the profits for the last quarter, Allstate declared an overall net … (more) February 27, 2011

• California auto insurance rates become cheaper in 2011

  by Richard Burton
  

  Lower cost car insurance coverage policies and lower premiums will be available to the drivers in Californian cities in 2011 along with option to pay as they drive in Los Angeles. The car insurance premium will become cheaper according to many insurance quote providers and local auto insurance companies. As per the recent statistics, the auto insurance quote for a California driver is $1143 in January of this year. This represents a significant drop of 11% from the same time last year. It also represents a whopping 31% drop from what the numbers were in 2009. The California average in … (more) February 26, 2011

• Insurance minimums required to drive in the state of Florida

  by Richard Burton
  

  According to statistics which appeared in one of Florida’s local newspapers, about 30 percent of drivers on the roads of South Florida do not have even the minimum required automobile insurance. According to Florida’s laws, every automobile driver is required to carry property damage coverage, which pays for physical damage of the other car, and the PIP or the personal injury protection which pays for the individual’s medical bills up to $10,000. Although drivers are required to show the proof of insurance at the time of obtaining their auto license tags, most of them only get the insurance on a … (more) February 23, 2011

• Reducing the insurance premium rates in Florida state

  by Richard Burton
  

  Florida State’s no-fault auto insurance laws are under scrutiny by the industry groups in Florida, because of the rising auto insurance premiums in the state. This rise is being attributed to the increasing insurance scams or the staged accidents by which the scam artists are collecting the claims they do not deserve. Most staged accidents were recorded in Florida in the recent years according to the records of National Insurance Crime bureau. Insurance Fraud division has made 49 arrests related to the personal injury protection frauds this year, according to the Alexis Lambert, department’s spokeswoman. The Property Casualty Insurers Association … (more) February 22, 2011

• Industry group recommended measures to counter Florida insurance scams

  by Richard Burton
  

  Industry groups in Florida are demanding that the legislature to find out about the insurance scam and put an end to it, since it is the prime reason for rising motorists’ insurance premium. William Stander, assistant vice president for Property Casualty Insurance Association is of the opinion that this rise in premium is the direct result of the increasing auto accidents which are ‘staged’ by the scam artists.  William Stander was backed by the Florida Chamber of Commerce and the Associated Industries of Florida, which unanimously called for the reform in Florida’s No-fault insurance program. Many noted businessmen and industrialists … (more) February 21, 2011

• Install safety devices and cut your auto insurance bills

  by Richard Burton
  

  You cannot cut down on auto insurance bills by just being a safe driver and not putting a lot of miles on road.  You will have to prove it to the insurance company.  In a trend that is fast catching up, insurance firms will drastically cut down on premiums for drivers who are willing to install the electronic devices to their vehicles, in order to check how much they drive each month and to prove that they are safe drivers.  While some of the drivers are jumping at the opportunity to make some savings, there are those who think that … (more) February 19, 2011

• Higher sales and cost-cutting measures increase profits in state auto insurance

  by Richard Burton
  

  The cost-cutting measures as well as higher sales have helped boost the profits during the fourth quarter as per reports from the State Auto Insurance.  The stock prices jumped more than 7% after this news arrived. An income of $37.6 million was reported by State Auto, which is more than double compared to $14.4 million a year ago.  The revenue rose to $356.9 million which means an increase of 11%. The State Auto Insurance Company made $24.5 million for the year when compared to $10.2 million in 2009.  The revenue rose from $1.3 billion to $1.4 billion in 2009. The … (more) February 18, 2011

• The senate is likely to take up the insurance bill

  by Richard Burton
  

  The senate is likely to take up the insurance bill on Tuesday in order to lower the minimum amount of insurance that motorists must carry and thereby reversing the higher minimums that was put in place couple of years ago by the Democrats. The drivers will still be carrying insurance under this bill, but the insurance amounts could be much lower and this could in turn reduce the premiums and the financial burden for most families.  However, the critics have pointed out that by doing this the motorists could be putting themselves at a grave financial risk if they are … (more) February 17, 2011

• Streets and highways riddled with potholes – ensure your car is insured

  by Richard Burton
  

  The snow, ice, and wind have damaged the streets and highways and driver have to face the challenges of winter.  The streets and highways in many parts of the country have turned into virtual obstacle courses and drivers have to face the challenge and fortunately one can avail insurance coverage due to damage caused as a result of potholes and other winter-related disasters, as per the Insurance Information Institute. Car owners will have to protect themselves with the right type of insurance cover and with the right amount during winter season, as this season could wreak havoc on the vehicles.  … (more) February 16, 2011

• Northeast Ohio auto insurance claims coverage denied – action taken by 5 on your side

  by Richard Burton
  

  There are two instances that have come to the forefront – two accidents, two claims and two denials for auto insurance coverage. North Ridgeville resident Nera Poling, was involved in an auto collision which damaged the front end of the Pontiac Sunfire and the collision was due to her fault.  The Buick she rammed into sustained damages to the tune of $1,800.  Poling called Allstate, her insurance provider and they stated that they would look into the matter. She was always regular with her insurance premiums and even her insurance card clearly showed that she had coverage till June.  However … (more) February 12, 2011

• Drivers can now pay by mile to reduce insurance costs

  by Richard Burton
  

  Auto insurance like fuel or electricity could be paid depending on how much the driver drives. A growing pattern emerging in the auto insurance world is the reduction in premiums for those people who drive a lot less than normal. This usage based auto insurance is becoming quite popular as it lowers the premiums to a significant extent. If an individual qualifies for this kind of usage based insurance, the premium could come down by as much as 10 – 15%. This takes into consideration, the amount of driving actually done by the individual looking for auto insurance. This is … (more) February 9, 2011

• States offering the costliest auto insurance policies

  by Richard Burton
  

  It is not just age, gender or driving track record that will affect auto insurance rates. In fact the states where you live in also have a massive impact on whether your auto insurance is expensive or cheap. The premiums could go over the roof due to traffic laws, condition of roads in the state and even the laws for medical coverage. According to a recent survey, Louisiana turned out to be the state with the most expensive insurance rates for cards where the average premium is as high as 2510 dollars. This high premium is partly because of the … (more) February 3, 2011

• Moving could be fun with state farm

  by Richard Burton
  

  State Farm one of the leading insurance companies has made moving a lot of fun. The first iPad application has been launched by the insurance company called MoveTools which is a free tool that helps people in planning and functions as a household assistant of inventories. Now, with one click of the finger, it is possible to build an entire to-do list and manage inventories and other stuff. In fact, customers can drag and drop items like blender and lamp into a box and print out labels for all the boxes, so that on the moving day you can find … (more) February 1, 2011