Florida Enacts Auto Insurance Reform

TweetOn March 9, 2012, the state of Florida enacted a major reform to its no-fault auto insurance law in an effort to stop rampant abuse of personal injury protection cases, a veritable cottage industry for fraud that has led to … Continue reading

Three States Allow No Auto Insurance, But Is It a Good Idea?

TweetAlthough it’s taken as an article of faith that auto insurance is required to legally operate a motor vehicle in the United States, there are exceptions. New Hampshire, for instance, does not force drivers to buy car insurance, but drivers … Continue reading

Inflated Auto Accident Claims a Major Source of Insurance Fraud

TweetThe Insurance Research Council estimates that each year insurers lose $5 billion to $7 billion to inflated auto accident claims alone, although the real cost of insurance fraud likely runs to tens of billions. Insurers pass those losses on to … Continue reading

Low to Mid-Income Americans Paying Too Much for Auto Insurance

TweetAccording to figures compiled by the Consumer Federation of America, low to mid-level income Americans may be paying too much for their auto insurance policies, a situation which lowers their employment opportunities because they cannot legally drive an uninsured vehicle. … Continue reading

Fraud Drives Meteoric Rise in New York Auto Insurance Premiums

TweetOver the past decade, New York City has seen a 70 percent increase in personal injury protection claims including lost wages, medical bills, and other auto insurance-related claims. This upsurge exists concurrently with a 49 percent jump in the cost … Continue reading

Low Cost Auto Insurance in a World of Rising Premiums

TweetIn February 2011, the national average rate for auto insurance premiums peaked for the six-month period of December 2010 to May 2011, standing at $1,236.38. By March, however, it dipped to an encouraging $1,162.18 driven by market pressure to bring … Continue reading

National Insurance Crime Bureau Warns Consumers About Irene Flood Cars

TweetHurricane Irene, which hit the east coast in August 2011, subjected the New England and mid-Atlantic regions to highly abnormal levels of wind and flood damage. Most residents found themselves deficient or completely unprepared in terms of homeowners insurances and … Continue reading

Cheap Auto Rates Don’t Mean as Much When Claims are a Hassle

TweetWhile everyone wants a price quote to make sure they’re getting the cheapest auto insurance premiums possible, sometimes a few dollars more is worth it for better claims handling. J.D. Power and Associates just released their annual “U.S. Auto Claims … Continue reading

Cheap Insurance and Speeding: Does It Matter?

TweetIn September 2011, Maine became the only state east of the Mississippi River to have a stretch of highway where 75 mph is the legal speed limit. According to locals, no one ever obeyed the old limit along the isolated … Continue reading

Cheap Auto Insurance: Technology Allows Policies to Get More Personal

TweetOver the past few years, the cheapest auto insurance offerings have trended toward greater personalization of individual policies in an effort to apply more realistic risk models. At the same time, available benefits are more attuned to real-world values that … Continue reading