Auto Insurance Secrets

Archive for the ‘auto insurance trends’ Category

According to the article “Syracuse car insurance quotes continue to rise” by Chris Rowe on viploan.com, Syracuse, NY continues to see rates increase.  Analysts are not concerned about the increasing car insurance quotes.  This is the trend is many parts of the country. But a different article “New York State Auto Insurance Rates Decline 20.3 Percent in 2009? found on money.cnn.com, paints a different picture for New York over all.  This article states that the average 6 month auto insurance rate in NY has decreased more than 20% since the start of 2009 according to insurancerates.com. The article also goes over some other interesting facts on New York auto insurance quotes.  Men in NY pay an average auto insurance premium about 12% higher than women drivers.  NY drivers who are under the age of 19 pay 100% more than drivers 60-74.  NY auto insurance rates declined over two percentage points more than the national average which declined 18.1% since the beginning of 2009.  Car insurance quotes will continue to flucuate in NY as well as the rest of the country so that is why it’s important to ensure you continue to shop around so you know you have the best deal on your premium.

Rates on your auto insurance quotes for your motorcycle have many determining factors.  Some of these include the type of motorcycle you drive, your experience with driving a motorcycle and your driving history. Another thing insurance companies consider when calculating your quote is what type of training you have had in driving a motorcycle.  DMV’s and other safety classes offer classes that educate you on the particulars of driving a motorcycle.  Having this type of course under your belt may lower your auto insurance quotes.  It’s important to keep any certificates you may receive to prove your class registration. Many auto insurance companies offer motorcycle insurance, including Dairyland Insurance, which is a subsidiary of Sentry Insurance, a parent company.  They specialize in motorcycle insurance as well as other forms of non-standard auto insurance protection.  They have been rated very strong by Standard and Poors for the last 5 years for their excellent business.  About 20% of their customers live in Florida but they are licensed in many states.

Allstate Auto Insurance recently gathered data that showed an increase in Texas auto insurance claims for hit pedestrians during the week of Halloween.  This is according to the article “Texas Pedestrian Accidents Jump 23% During Halloween” by Kristen Beaman for Allstate found on reuters.com.

Allstate looked at claims in Texas over the last 5 years and found a large jump in accidents around trick or treating.  Last year, Allstate claims more than doubled over the Halloween week compared with the rest of 2008.  Their data matches up with a report from the Insurance Institute for Highway Safety which showed that October 31 is the 2nd highest day of the year for pedestrian deaths.  The first is Fourth of July.  With Halloween falling on a weekend this year, there may be more people out than normal so it’s crucial that drivers are extra careful.

The article offers some important tips to follow while out on the road, especially at night when pedestrians are out.  Never drink and drive.  A designated driver should always be assigned before heading out for the evening.  Texting while driving can be very dangerous so keep your phone in your pocket until you can pull over to text or make a call.  As a pedestrian, it’s a good idea to avoid texting while walking.  Anything that takes your eyes off the road can be very dangerous.  Not only will following these steps make you a safer driver but it may eventually lower your car insurance quotes.

Taxi auto insurance is extremely important for taxi drivers who want to financially protect themselves and their business.  According to the article “Taxi Drivers Can Protect Business With Taxi Insurance” from Insurance Agents Press Release on 1888pressrelease.com, taxi insurance is the only policy that’s designed to protect the taxi company.

The article points out that over 2 million passengers are injured in the taxi industry which is why it’s so crucial for these drivers to have coverage.  Taxi insurance provides options that are specifically designed for taxi cabs.  Liability coverage is available which protects the taxi company, the driver, as well as the taxi company’s assets.  Comprehensive coverage is also available which protects in case of vandalism, theft, fire or other damages that may be caused by an accident.

To qualify for a taxi insurance policy companies must have taxis that function as fare based and that keep up with maintenance.  Drivers must be between the ages of 25 and 65 and they need more than 2 years of driving experience in the US and have a current, valid driver license.  You can receive taxi auto insurance quotes online or contact an insurance agent.

The state of California has seen suspected California auto insurance theft and arson fraud increase over the past year according to The California Department of Auto Insurance which released information on Friday.  This was found in the article “State Sees Rise In Suspicious Auto Insurance Claims” on Sacramento Biz Journal by Kelly Johnson.

The agency recently gathered data that showed criminals may be committing more auto insurance fraud to obtain insurance cash during these tough times.  Insurance Commissioner Steve Poizner stated in a news release that fraud is on the rise.  In 2008, the California Department of Insurance found a 25% increase in suspected car arson fraud cases from the year before.  They also received about 200 more suspected car theft fraud cases in 2008 compared to 2007.

The department receives regular referrals of suspected fraud from auto insurance companies, law enforcement agencies as well as consumers and each case is researched to determine if it is actually a fraud situation.  Other kinds of auto fraud such as inflated damages, vandalism, and hit and run accidents have remained somewhat constant since 2007 according to the Department.

This increase in suspected fraud may continue as the recession remains.  Consumers are feeling strapped for cash and desperate and this seems like the only road for many.  Of course, any type of fraud will end up costing you much more in the end, including possible jail time.

Auto insurance rates are expected to rise up to 19% for Ontario drivers.  The average Toronto area driver may see rates increase by up to 14% according to the article “Auto insurance rates to rise as much as 19% in Ontario” on GlobalToronto.com.

Ten auto insurance companies, which serve more than a fourth of Ontario drivers, have been approved to raise their auto insurance rates once again.  One of the reasons for the increased rates is the cost pressures being placed on insurers.

It’s important to keep prices in perspective though because auto insurance rates are still relatively low when compared to previous years.  When compared to the cost of living, rates are reasonable.  Finance Minister Dwight Duncan plans to announce changes to auto insurance rates during the government’s 5 year review.

According to the article “Pay-as-you-drive auto insurance gets green light” by Kelly Johnson from msn.com, California Insurance Commissioner Steve Poizner announced Friday that the state Office of Administration Law has passed regulations which allow auto insurance companies to base rates on how much drivers drive and they are now in effect.

Poizner opposed the pay-as-you-drive regulation a year ago, but now he believes it’s an innovative way to give California drivers rewards for driving less.  This will ultimately lead to lower auto insurance, less air pollution and eventually less dependence on foreign oil.

The Association of California Insurance Companies supports the new regulation calling it “pro-consumer”.  The new regulation will give auto insurance companies and drivers an additional tool to assure that auto insurance rates reflect the driver’s actual risk of getting into an accident and filing a claim.  Insurers will have the option to offer estimated mileage, but they will now also have the option to offer verified mileage plans.

A Nationwide auto insurance survey discovered that 8 out of 10 Americans would support legislation restricting cell phone usage while driving according to the article “Nationwide Insurance, NASCAR Drivers, Encourage Students to Stop Driving Distracted” by Gayle Saunders found on reuters.com.

Nationwide Insurance has teamed up with Johnson C. Smith University, NASCAR’s Kyle Petty, NASCAR Nationwide Series driver Trevor Bayne and NASCAR’s Drive for Diversity Michael Cherry to support the rise of awareness for DWD (Driving While Distracted).  Not only does driving while you are distracted put lives at risk, but it can end up costing you a lot of money on your auto insurance quotes if you are in an accident or pulled over.

The survey that Nationwide auto insurance completed showed that 80% of Americans favor a ban on texting while driving and 2/3 of Americans support the ban of phone calls while over 50% say they support a ban of cell phone use altogether.  Nationwide and their partnerships are bringing together an educational campaign to spread the message about how dangerous it is to drive while distracted.  Nationwide is committed to helping their customers stay safe and protect what matters most to them.

California has a low-cost auto insurance program which offers lower auto insurance rates, according to the article “Requiring Auto Insurance Requires That It’s Also Affordable” by Peter Luke on mlive.com.  The program covers basic auto insurance for less than $400 a year.  Drivers must be 19 and have a relatively clean driving record.  There is also an income requirement of less than $27,000 for a single person or $55,000 for a family of 4. 

The article points out that one of the main arguments over the health care debate is that if there is going to be a mandate on health insurance then premiums must be made affordable.  The same concept should be applied to auto insurance since it is required in most states.  The policies need to be readily available for everyone, fairly administered and with reasonable auto insurance rates. 

There is also much debate over how auto insurance companies determine their rates, especially in Michigan where previous posts discuss how they are debating the use of the credit score.  Many believe not only should credit score be excluded from auto insurance companies’ formulas, but also income, gender, zip code, marital status, and bankruptcy.  Some states are considering excluding employment status, which is important for today’s high unemployment rate.

As the unemployment rate increases and the state of the economy continues, more and more people are expected to drop their auto insurance.  This is according to the article “More Motorists Expected To Drive Without an Auto Insurance Policy” by John Pirro found on live-pr.com. 

The article states that many people see a strong correlation between unemployment rates and the number of people driving without auto insurance.  According to a study from the Insurance Research Council, about one in six drivers will be driving without auto insurance by 2010.  One of the main problems with this trend is that responsible drivers who follow the law and carry the proper auto insurance coverage end up paying more to account for accidents caused by uninsured motorists. 

The consequences for driving without auto insurance are getting harsher.  For example, the Pennsylvania Department of Transportation will suspend a driver’s vehicle registration if they are caught without proof of insurance.  Many of these people driving around uninsured believe they simply cannot afford the month to month cost of carrying auto insurance, but the truth is that it can end up costing you a lot more money in the long run if you are in an accident or caught driving uninsured.