Posted by Lindsey Rodriguez on Jul 22, 2011 | No Comments
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, the entire no-fault insurance system in New York will collapse, state industry experts.
The rise in personal injury protection claims in Michigan is due to the no-fault insurance.
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Tags: Insurance, Insurance Disliked
Posted by Lindsey Rodriguez on Jul 19, 2011 | No Comments
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.
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Tags: Auto Insurance, Auto Insurance Companies, Companies, Insurance Companies
Posted by Lindsey Rodriguez on Jul 17, 2011 | No Comments
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. T
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Tags: Auto Insurance, Helmet Law, Law
Posted by Lindsey Rodriguez on Jul 16, 2011 | No Comments
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 Bureau.
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Tags: 1967, Auto Thefts
Posted by Lindsey Rodriguez on Jul 14, 2011 | No Comments
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.
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Tags: Car Insurance, Insurance, Rental Car, Rental Car Insurance
Posted by Lindsey Rodriguez on Jul 14, 2011 | No Comments
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.
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Tags: May, May Consider
Posted by Lindsey Rodriguez on Jul 12, 2011 | No Comments
The crisis in the auto insurance sector has been spreading all across the states in the US and this is largely due to the flawed no-fault insurance system in most of the states say insurance experts.
Critics state that the no-fault insurance system is the root of the crisis in the auto insurance sector. Some of the insurers have stopped doing business in Florida due to the widespread auto insurance fraud because of the no-fault insurance system there.
Experts state that if adequate reforms are not brought in at the earliest, the no-fault system in New York will soon reach a stage that would be beyond repair.
Michigan has seen a steep rise in the personal injury protection claims due to the flawed no-fault insurance system.
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Tags: Insurance, Insurance Least
Posted by Lindsey Rodriguez on Jul 12, 2011 | No Comments
The IBC or the Insurance Bureau of Canada has been actively convincing the British Columbians since the last four years stating that the private insurance system provides the best service and would be much better than ICBC. However, there seems to be overwhelming evidence to show that when the government takes up something and does it right, the choice between private and public would become quite obvious.
Just last week Lindsay Olso had argued on behalf of the IBC and stated that the insurance rates in B.C. would actually decline if it had to come under the private system.
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Tags: Best, Best Provided
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