The Center for Disease Control and Prevention took a look at a year’s worth of data on vehicular accidents and came up with some startling numbers, in terms of costs, that more than speak for themselves: – Medical treatment and losses to productivity associated with auto accidents: $99 billion – Cost of car and light [...]
All articles in category: "Auto Insurance"
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Injury Costs in Vehicle Accidents Skyrocket
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Auto Insurance Fraud Harms All Drivers
Depending on the source to which you turn, people are either defrauding insurers right and left as a consequence of the recession or things are rocking along about like normal. How much fraud goes on in the industry each year? Oh, anywhere from $80 billion to $200 billion. Yes, that’s right, the best estimate has [...]
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A Good Sense Product: Pay as You Go Auto Insurance
It’s not too often that you get a chance to talk about an insurance product with the potential to be good for the planet, but I have one for you — pay-as-you-go auto insurance. These are policies with the premium rate tied to the number of miles (or sometimes hours) the car is driven per [...]
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Alternate Use Vehicles Meet with Resistance
The evolution of alternative fuel and alternative use vehicles is going to force changes in both insurance laws and insurance coverage as evidenced by a case in Portland, Maine involving a young man and his golf cart. Matt Rand, 19, has been providing rides for people getting off the Peaks Island ferry in exchange for [...]
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High Theft Risk, High Auto Insurance Premiums
In the recently released J.D. Power and Associates survey on consumer satisfaction with auto insurance coverage, the statistics showed a big drop — a full 10 points — over 2009. Most people are unhappy with their auto policy because it just costs too much. People are comparison shopping and looking for deals. One thing people [...]
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Auto Insurance Fraud: Lose / Lose / Loser
Most cases of auto insurance fraud are a result of desperation. In 2009, as the recession was ramping up to its worst levels (unemployment climbing toward 10%, auto industry going bankrupt), the National Insurance Crime Bureau tracked the rate of fraud at 14%. Roughly 85,209 questionable claims were filed last year over the 74,902 in [...]
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Risky Behaviors Are Too Expensive — On Every Level
If you’ve been anywhere near an entertainment report for the last ten days you’re clued in to the “Lindsay Lohan has to go to jail” story. Hats off to the Insurance Information Network of California (IINC) for managing to jump on that story with a press release reminding folks that our mistakes follow us — [...]
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Renting a Car? Buyer Beware
Anyone who has ever rented a car has debated about whether or not to take out the rental insurance. That’s really not a decision you should make when you’re standing in front of the counter, probably running late, and at the mercy of a high pressure rental agent. At that moment, the decision is either, [...]
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Most and Least Affordable States for Auto Insurance
Personally, I’m never sure how good these studies really are, but InsWeb has put out its 2010 Car Insurance Affordability Index based on the kind of math that makes my numbers-challenged head spin. Basically, they took the median car insurance rate per household and divided it by the median household income to come up with [...]
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Communities and States Continue to Debate Texting Laws
One by one, cities across the nation are cracking down on texting behind the wheel. On Monday, June 7, the Springfield, Massachusetts city council passed a home rule petition by a 12-1 margin to allow police to fine anyone who sends or receives a text message behind the wheel. A first offense fine would be [...]
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