For many people taking out car insurance can be a daunting task. Possibly their first thought is about what type of policy, level of cover, premium and company they should choose, and that’s even before deciding whether to go it alone with a telephone-based or internet company, agent or broker.
But take a step back and bear in mind that the insurance company or broker should be one that can offer the best professional advice, the right type of product for the individuals’ circumstances together with the most competitive price.Anyone who drives must know that they should be insured, because it’s a legal requirement. After all, it’s illegal to drive in Spain (as it is in England) without at least Third Party Insurance. Briefly, in terms of level of cover, Fully Comprehensive is possibly the most commonly contracted, and probably one that protects the insured the most. However, to go one step further one can take out Fully Comprehensive policy with Protected No Claims Bonus, meaning that the policy holder would not lose their bonus should they need to make up to a stipulated number of claims within an allotted period.
Regardless of whether one decides upon Fully Comprehensive, Third Party or one of the levels in between, the client will have to prove their right to No Claims Bonus (a reduction in insurance premium for having no insurance claims in a previous period), from their previous insurance company (most companies will accept bonus proof from a client’s home country).
Aside from the various levels of cover there are many other definitions, specific terms and conditions; all of which can be quite detailed and confusing. Many policies offer immediate cover, up to 65% no-claims discount, assistance and repairs service 24/7, legal assistance and a courtesy car. Further upgrades to complement standard cover can be included, such as roadside assistance 24/7, loss of keys, damage to personal items and luggage left in the vehicle, legal assistance and increased third party liabilities to include both compulsory and voluntary cover and public liability cover for pedestrians and cyclists. Some policies can even cover against loss of driving licence, points on your licence or fines. Nevertheless, as there are many options depending on individual requirements, it’s worthwhile discussing this further with the insurance company or your insurance broker.
Whatever type of company a client seeks to contract their insurance policy with, ensure it can offer the best professional advice on the right type of insurance product for their circumstances and at the most competitive price. It’s invaluable dealing with an established, experienced company that can offer products in English, with specialist departments with multi-lingual operators who can assist ‘international clients’ by phone, or face-to-face with one of their intermediaries, a company that can tailor-make policies to suit specific requirements and understands a client’s specific lifestyle. Basically, a company that can take the time to explain all the “ins-and-outs” in plain English and help guide the customer through the minefield that can be car insurance.
Car Insurance Source
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There is no "one-size-fits-all" car insurance, insurance is dependent on a number of circumstances. Young drivers should investigate the car insurance policies that they are considering and look for the policy that fits them.
Tuesday, December 9, 2008
Monday, December 1, 2008
Car Accidents can inflate car insurance price
It has been revealed that car drivers who have an at-fault car accident could result in having their car insurance premiums hiked up by more than 60%.
This statistic was taken from a website which showed 10 million quotes from users, looking at the effects of having made an at-fault claim on their car insurance.
The study also found some surprising results. For example, the research found that bus conductors and GPs were the professionals that were most likely to have a road accident, but less than 1.5% of driving examiners were to blame for an accident.
In contrast to this, au pairs and magistrates were the least likely professions to be involved in a collision, thus they presented a low risk.
Peter Gerrard, head of insurance research stated: “When an insurer risk assesses a driver, any history of accidents will no doubt mean motorists pay more.”
Car Insurance Source
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Car insurance coverage can lessen the financial impacts of car accidents, but drivers should still not be too complacent on the road because their car accident history can inflate the price of car insurance.
This statistic was taken from a website which showed 10 million quotes from users, looking at the effects of having made an at-fault claim on their car insurance.
The study also found some surprising results. For example, the research found that bus conductors and GPs were the professionals that were most likely to have a road accident, but less than 1.5% of driving examiners were to blame for an accident.
In contrast to this, au pairs and magistrates were the least likely professions to be involved in a collision, thus they presented a low risk.
Peter Gerrard, head of insurance research stated: “When an insurer risk assesses a driver, any history of accidents will no doubt mean motorists pay more.”
Car Insurance Source
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Car insurance coverage can lessen the financial impacts of car accidents, but drivers should still not be too complacent on the road because their car accident history can inflate the price of car insurance.
Thursday, November 27, 2008
Understanding Car Insurance Coverage
(NAPSI)-Each year, millions of Americans prepare their vehicles for winter's inclement weather and treacherous travel conditions. Unfortunately, many do so without a key element-the certainty of whether or not their auto insurance policy protects them for any unexpected accidents they might encounter along the way.
A survey commissioned by Allstate-in conjunction with the introduction of the Good Hands® Coverage Checkup, a checklist provided by Allstate agents to help review consumers' car insurance policy limits-indicated that approximately 60 percent of respondents are not confident they understand their car insurance coverage.
Confidence Gap
More than 40 percent of consumers first answered that they were not confident in their understanding of their auto insurance coverage. However, after being quizzed on specific incidents such as hitting a deer and crashing after a tire blowout, the number of respondents who admitted they weren't confident rose significantly-to nearly 60 percent.
"When the unexpected occurs, the difference between hoping you're protected and knowing you are is crucial," said Lisa Cochrane, vice president of marketing, Allstate. "That's where Allstate's network of more than 14,000 agencies can help consumers feel confident in their coverage."
Additional survey findings included:
• It's all in a name: A higher percentage of respondents who know their insurance agent's name feel more confident in their knowledge of their auto insurance policies than those who don't have an agent or don't know the agent's name.
• The great equalizer: Prior to being polled on accident-specific questions, 70 percent of men were confident they understood what their insurance coverage includes, compared to just 50 percent of women. Following the questions, men dropped to a 50 percent level and women to a 33 percent mark.
Coverage Checkup
Allstate developed its Good Hands® Coverage Checkup to help consumers review their current auto insurance policy limits and identify where they may need more coverage or less. An invaluable checklist the company's agents can provide-the checkup is free for all consumers, regardless of their insurance carrier-takes just 15 minutes, can help uncover gaps in coverage limits that could expose a consumer to financial risk and points out available discounts and savings.
Car Insurance Source
A survey commissioned by Allstate-in conjunction with the introduction of the Good Hands® Coverage Checkup, a checklist provided by Allstate agents to help review consumers' car insurance policy limits-indicated that approximately 60 percent of respondents are not confident they understand their car insurance coverage.
Confidence Gap
More than 40 percent of consumers first answered that they were not confident in their understanding of their auto insurance coverage. However, after being quizzed on specific incidents such as hitting a deer and crashing after a tire blowout, the number of respondents who admitted they weren't confident rose significantly-to nearly 60 percent.
"When the unexpected occurs, the difference between hoping you're protected and knowing you are is crucial," said Lisa Cochrane, vice president of marketing, Allstate. "That's where Allstate's network of more than 14,000 agencies can help consumers feel confident in their coverage."
Additional survey findings included:
• It's all in a name: A higher percentage of respondents who know their insurance agent's name feel more confident in their knowledge of their auto insurance policies than those who don't have an agent or don't know the agent's name.
• The great equalizer: Prior to being polled on accident-specific questions, 70 percent of men were confident they understood what their insurance coverage includes, compared to just 50 percent of women. Following the questions, men dropped to a 50 percent level and women to a 33 percent mark.
Coverage Checkup
Allstate developed its Good Hands® Coverage Checkup to help consumers review their current auto insurance policy limits and identify where they may need more coverage or less. An invaluable checklist the company's agents can provide-the checkup is free for all consumers, regardless of their insurance carrier-takes just 15 minutes, can help uncover gaps in coverage limits that could expose a consumer to financial risk and points out available discounts and savings.
Car Insurance Source
Ways to reduce your auto insurance premium
There are several ways you may be able to cut your auto insurance costs. Higher deductibles can lower your premium, as will selecting only the coverages you feel you need. Many insurance companies offer different discounts. Here are a few. When shopping for auto insurance, be sure to ask about the availability of these discounts and whether the insurer offers them.
• New business discount: May offer you a discount as a new policyholder if you have been accident-free for a specific period of time.
• Accident-free: Policyholders who have been accident-free while being insured with the same insurance company for several years may be eligible for reduced premiums.
• Discounts for other insurance lines: Premiums may be reduced if you insure your home, life or health with the same company that covers your car.
• Multiple cars: Premiums may be reduced if there are two or more private passenger cars in the household insured by the same company.
• Air bag/passive restraint: Cars that are 1993 or older and are equipped with air bags or automatic seat belts may receive this discount. Certain makes and models of newer vehicles may receive the Vehicle Safety Discount because of the lower medical payments associated with them. The Vehicle Safety Discount is for autos 1994 or newer. Certain makes and models may have a decrease in their premiums because of lower medical payments associated with those specific makes/models.
• Antitheft devices: Some insurance companies offer discounts on comprehensive coverage premiums when certain antitheft devices are installed or built into a vehicle.
• Defensive driving course: Premium discounts sometimes are offered for the voluntary completion of specified driver improvement courses.
• Good student: Full-time students (high school or higher level) maintaining at least a “B” average may qualify for reduced premiums with many companies.
These are just a few of the common discounts offered by insurance companies. For more details, contact your insurance company or agent. Above all, drive safely.
Car Insurance Source
• New business discount: May offer you a discount as a new policyholder if you have been accident-free for a specific period of time.
• Accident-free: Policyholders who have been accident-free while being insured with the same insurance company for several years may be eligible for reduced premiums.
• Discounts for other insurance lines: Premiums may be reduced if you insure your home, life or health with the same company that covers your car.
• Multiple cars: Premiums may be reduced if there are two or more private passenger cars in the household insured by the same company.
• Air bag/passive restraint: Cars that are 1993 or older and are equipped with air bags or automatic seat belts may receive this discount. Certain makes and models of newer vehicles may receive the Vehicle Safety Discount because of the lower medical payments associated with them. The Vehicle Safety Discount is for autos 1994 or newer. Certain makes and models may have a decrease in their premiums because of lower medical payments associated with those specific makes/models.
• Antitheft devices: Some insurance companies offer discounts on comprehensive coverage premiums when certain antitheft devices are installed or built into a vehicle.
• Defensive driving course: Premium discounts sometimes are offered for the voluntary completion of specified driver improvement courses.
• Good student: Full-time students (high school or higher level) maintaining at least a “B” average may qualify for reduced premiums with many companies.
These are just a few of the common discounts offered by insurance companies. For more details, contact your insurance company or agent. Above all, drive safely.
Car Insurance Source
Monday, November 24, 2008
New Colorado Car Insurance Law Drives Consumer Education
Starting this month, the mail and inboxes of Colorado drivers will begin filling up with notices from their car insurance companies informing customers of a new "opt-out" requirement due to a new Colorado Law that takes effect January 1, 2009. Because many car insurance policy renewal notices are sent 60 days in advance, drivers whose coverage renews in January will start receiving revised premium notices — along with an optional rejection form, according to the Rocky Mountain Insurance Information Association. However, it's important for all Colorado insurance consumers to understand how the legislation affects their insurance, the association advised.
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Colorado Senate Bill 08-11 creates a mandatory opt-out of $5,000 in medical payments coverage (MPC). Medical payments coverage is currently optional auto insurance coverage that is offered in many different amounts — ranging from $1,000 to $100,000. This is extra coverage on the auto policy that pays for the driver and passenger(s)'s medical bills regardless of who causes the accident. If Coloradoans buy this coverage it is in addition to health insurance and settlement money from an at-fault driver.
During the 2008 Legislative Session, Colorado lawmakers passed a bill that will require car insurance companies to add $5,000 of medical payments coverage to every car insurance policy, unless the customer rejects the amount in writing or in the same way it was sold to them (i.e. telephone, Internet).
For policies that go into effect after January 1, 2009, the additional $5,000 in med pay coverage will be automatically rolled on. For customers who don't already carry med pay this will mean a new premium. If drivers purchased less than $5,000 previously, the company is still required to offer a $5,000 limit, since the lower limit amounts will no longer be offered. Bottom line: Drivers will need to buy $5,000, choose a higher limit, or reject all medical coverage by sending back the rejection form, RMIIA explained.
It's estimated that about 32 percent of Coloradans currently choose to purchase some amount of medical payments coverage on their car insurance policy. "So the implementation of this new law will require the majority of Colorado drivers to again carefully weigh their decision to buy extra medical coverage and take action to reject the coverage if they determine they don't want or need it," saidCarole Walker, RMIIA executive director. That's why it's important for agents or company representatives to talk aboutinsurance choices and make sure their clients have the protection that's right for them, she advised.
Colorado insurance companies are taking steps to make sure their customers understand their options and the new opt out legal requirements. Companies are implementing education campaigns that will start this month to inform their customers, agents and employees of the law changes. RMIIA also has new educational guides, "Colorado Car Insurance GPS," that help steer drivers though their coverage choices.
Car Insurance Source
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Something for our Colorado drivers. Know your options, and try to understand the new opt out legal requirements.
Advertisement
Colorado Senate Bill 08-11 creates a mandatory opt-out of $5,000 in medical payments coverage (MPC). Medical payments coverage is currently optional auto insurance coverage that is offered in many different amounts — ranging from $1,000 to $100,000. This is extra coverage on the auto policy that pays for the driver and passenger(s)'s medical bills regardless of who causes the accident. If Coloradoans buy this coverage it is in addition to health insurance and settlement money from an at-fault driver.
During the 2008 Legislative Session, Colorado lawmakers passed a bill that will require car insurance companies to add $5,000 of medical payments coverage to every car insurance policy, unless the customer rejects the amount in writing or in the same way it was sold to them (i.e. telephone, Internet).
For policies that go into effect after January 1, 2009, the additional $5,000 in med pay coverage will be automatically rolled on. For customers who don't already carry med pay this will mean a new premium. If drivers purchased less than $5,000 previously, the company is still required to offer a $5,000 limit, since the lower limit amounts will no longer be offered. Bottom line: Drivers will need to buy $5,000, choose a higher limit, or reject all medical coverage by sending back the rejection form, RMIIA explained.
It's estimated that about 32 percent of Coloradans currently choose to purchase some amount of medical payments coverage on their car insurance policy. "So the implementation of this new law will require the majority of Colorado drivers to again carefully weigh their decision to buy extra medical coverage and take action to reject the coverage if they determine they don't want or need it," saidCarole Walker, RMIIA executive director. That's why it's important for agents or company representatives to talk aboutinsurance choices and make sure their clients have the protection that's right for them, she advised.
Colorado insurance companies are taking steps to make sure their customers understand their options and the new opt out legal requirements. Companies are implementing education campaigns that will start this month to inform their customers, agents and employees of the law changes. RMIIA also has new educational guides, "Colorado Car Insurance GPS," that help steer drivers though their coverage choices.
Car Insurance Source
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Something for our Colorado drivers. Know your options, and try to understand the new opt out legal requirements.
Wednesday, November 12, 2008
Colour 'could be important for car insurance customers'
Female motorists have long been derided for basing their choice of new car on colour.
Now new research has suggested people who want to avoid making a motor insurance claim may be well-advised to take the shade of a vehicle into account when making a purchase.
Research by digital motoring magazine iMotor revealed grey cars were more prone to breaking down than models in any other colour.
However, editor Mat Watson has said there could be a reasonable explanation behind these findings.
He claimed hire vehicles and company cars are often grey as they tend to look newer for longer.
Mr Watson explained as these cars tend to cover more miles than the average motor it would be understandable if they required roadside assistance on a more regular basis.
"Then again, grey cars could just be cursed," he added.
Car Insurance Source
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This is a quite interesting research on the correlation of car colour and car insurance. Do you have a grey car? Maybe, you should consider this. :)
Now new research has suggested people who want to avoid making a motor insurance claim may be well-advised to take the shade of a vehicle into account when making a purchase.
Research by digital motoring magazine iMotor revealed grey cars were more prone to breaking down than models in any other colour.
However, editor Mat Watson has said there could be a reasonable explanation behind these findings.
He claimed hire vehicles and company cars are often grey as they tend to look newer for longer.
Mr Watson explained as these cars tend to cover more miles than the average motor it would be understandable if they required roadside assistance on a more regular basis.
"Then again, grey cars could just be cursed," he added.
Car Insurance Source
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This is a quite interesting research on the correlation of car colour and car insurance. Do you have a grey car? Maybe, you should consider this. :)
Thursday, November 6, 2008
UK Drivers Unaware They Could Be Invalidating Their Car Insurance
There are many things that can affect an insurance policy and in not disclosing to the insurer all of the relevant details policyholders could be breaking the terms of a policy meaning that a driver isn't covered if they try to make a claim.
A survey by YouGov found that one in ten motorists could have invalid car insurance. Six percent of people admitted to intentionally lying about basic details such as their age and address, while 3% admitted to withholding information from their car insurance company by not telling them about past driving convictions.
Swinton is advising UK drivers to be fully aware of what the policy does and does not cover and more importantly know what could invalidate it.
Steve Chelton, Insurer Development Manager, for Swinton said "It is very important that UK drivers are aware of the terms and conditions of their policy so they are not unconsciously invalidating it. The last thing a motorist wants to do is pay annual premiums only to find their policy is void when the time comes to make a claim."
Swinton has put together a list of common mistakes and offences that could potentially invalidate a car insurance policy.
- Not being truthful on your application form can invalidate your policy. An insurance company will give a quote based on the information submitted. Failure to mention past driving convictions or accidents could mean a claim isn't paid out.
- Likewise not informing your insurance company of a change of job or increased annual mileage promptly and when the policy is up for renewal may also affect a claim.
- Poor vision may invalidate the driver's policy. The legal requirement to read a number plate is 20.5 meters in good conditions. Motorist should have their eyes checked if in doubt to avoid costly claims.
- Modifying your car, as encouraged by programmes like Pimp My Ride UK, can also invalidate an insurance policy if the insurance company is not informed.
Omitting information from your application such as where you car is parked at night could also invalidate a car insurance policy.
Car Insurance Source
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Drivers should be aware of the terms and conditions of their policy so as not to unconsciously invalidate it. It would really be a tragic experience to pay annual premiums only to find out that the policy cannot be applied when the time comes that they need to claim it.
A survey by YouGov found that one in ten motorists could have invalid car insurance. Six percent of people admitted to intentionally lying about basic details such as their age and address, while 3% admitted to withholding information from their car insurance company by not telling them about past driving convictions.
Swinton is advising UK drivers to be fully aware of what the policy does and does not cover and more importantly know what could invalidate it.
Steve Chelton, Insurer Development Manager, for Swinton said "It is very important that UK drivers are aware of the terms and conditions of their policy so they are not unconsciously invalidating it. The last thing a motorist wants to do is pay annual premiums only to find their policy is void when the time comes to make a claim."
Swinton has put together a list of common mistakes and offences that could potentially invalidate a car insurance policy.
- Not being truthful on your application form can invalidate your policy. An insurance company will give a quote based on the information submitted. Failure to mention past driving convictions or accidents could mean a claim isn't paid out.
- Likewise not informing your insurance company of a change of job or increased annual mileage promptly and when the policy is up for renewal may also affect a claim.
- Poor vision may invalidate the driver's policy. The legal requirement to read a number plate is 20.5 meters in good conditions. Motorist should have their eyes checked if in doubt to avoid costly claims.
- Modifying your car, as encouraged by programmes like Pimp My Ride UK, can also invalidate an insurance policy if the insurance company is not informed.
Omitting information from your application such as where you car is parked at night could also invalidate a car insurance policy.
Car Insurance Source
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Drivers should be aware of the terms and conditions of their policy so as not to unconsciously invalidate it. It would really be a tragic experience to pay annual premiums only to find out that the policy cannot be applied when the time comes that they need to claim it.
Thursday, October 30, 2008
Drivers advised not to cut car insurance
Drivers are being warned not to tighten their purse strings when it comes to purchasing car insurance. The credit crunch has left many feeling worried, and therefore are cutting back on policies they think they do not need.
These warnings came after a study found that nearly half of UK residents are planning to save money by spending less on financial products, whilst 2% are planning to cut their car insurance.
However, the British Insurance Broker’s Association stated that cancelling car insurance policies is not the answer, as it is a legal requirement.
A spokesman stated: “If you are going to review your insurances there are some that you should keep and some that you perhaps don't need.”
Car Insurance Source
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Car insurance is important. You'll never know when you will need one so better keep your insurance if you have one
These warnings came after a study found that nearly half of UK residents are planning to save money by spending less on financial products, whilst 2% are planning to cut their car insurance.
However, the British Insurance Broker’s Association stated that cancelling car insurance policies is not the answer, as it is a legal requirement.
A spokesman stated: “If you are going to review your insurances there are some that you should keep and some that you perhaps don't need.”
Car Insurance Source
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Car insurance is important. You'll never know when you will need one so better keep your insurance if you have one
Tuesday, October 28, 2008
A car insurance product
What is it? A car insurance product which the promoters say could significantly reduce a person's premiums.
Pay As You Drive from Real Insurance allows qualified motorists to pay only for the kilometres they plan to travel.
What are its features? Pay As You Drive allows motorists to cover their vehicles based on how far they drive. Motorists can buy kilometres and are covered until they complete that distance. Anyone driving less than the average for people with the same insurance profile should pay less than they would for traditional comprehensive car insurance. Those who qualify get comprehensive car insurance with a minimum annual premium and purchase insurance for the kilometres they expect to cover in that vehicle. Unused kilometres never expire -- they can be transferred year to year or be refunded and customers who are about to run out of kilometres can apply to purchase additional kilometres. Pay As You Drive reminds customers when they may need to top up their kilometre balance with a sticker for their windscreens and SMS messages to their phones. People who have not made a claim against any of their Pay As You Drive policies for three years in a row receive 10 per cent of the total premiums paid in that time. Similar insurance products overseas require policy holders to have their vehicles equipped with monitoring devices. Pay As You Drive in Australia relies on the customer reporting the odometer reading of the vehicle insured.
What are the advantages? Pay As You Drive is suited to people who drive to and from the train station or work close to home and perhaps use their cars on weekends. It also suits those who have a second or third car.
What are its disadvantages? Pay As You Drive is not for everyone. It works for people who drive less than average. Motorists who drive a lot are actually being subsidised by traditional car insurance, so Pay As You Drive won't work for them. Pay As You Drive is available only to drivers over the age of 25.
What does it cost? Pay As You Drive claims cost savings of "up to 60 per cent on car insurance per annum". A 29-year-old Parramatta man who owns a Mitsubishi hatchback would typically pay $981 a year for insurance, but if he only drives 5000 kilometres, he would pay $316 per year with Pay As You Drive.
Car Insurance Source
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Another "budget" car insurance for us. Check out this site for more car insurance options.
Pay As You Drive from Real Insurance allows qualified motorists to pay only for the kilometres they plan to travel.
What are its features? Pay As You Drive allows motorists to cover their vehicles based on how far they drive. Motorists can buy kilometres and are covered until they complete that distance. Anyone driving less than the average for people with the same insurance profile should pay less than they would for traditional comprehensive car insurance. Those who qualify get comprehensive car insurance with a minimum annual premium and purchase insurance for the kilometres they expect to cover in that vehicle. Unused kilometres never expire -- they can be transferred year to year or be refunded and customers who are about to run out of kilometres can apply to purchase additional kilometres. Pay As You Drive reminds customers when they may need to top up their kilometre balance with a sticker for their windscreens and SMS messages to their phones. People who have not made a claim against any of their Pay As You Drive policies for three years in a row receive 10 per cent of the total premiums paid in that time. Similar insurance products overseas require policy holders to have their vehicles equipped with monitoring devices. Pay As You Drive in Australia relies on the customer reporting the odometer reading of the vehicle insured.
What are the advantages? Pay As You Drive is suited to people who drive to and from the train station or work close to home and perhaps use their cars on weekends. It also suits those who have a second or third car.
What are its disadvantages? Pay As You Drive is not for everyone. It works for people who drive less than average. Motorists who drive a lot are actually being subsidised by traditional car insurance, so Pay As You Drive won't work for them. Pay As You Drive is available only to drivers over the age of 25.
What does it cost? Pay As You Drive claims cost savings of "up to 60 per cent on car insurance per annum". A 29-year-old Parramatta man who owns a Mitsubishi hatchback would typically pay $981 a year for insurance, but if he only drives 5000 kilometres, he would pay $316 per year with Pay As You Drive.
Car Insurance Source
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Another "budget" car insurance for us. Check out this site for more car insurance options.
Sunday, October 19, 2008
Beware of schemes that work to defraud auto insurance companies
by Anhony Parenti
Auto insurance fraud is an enormous problem in the United States and one that costs drivers millions of dollars each year. Unfortunately, some people do not realize the severity of this crime and are mistaken that insurance fraud is harmless and acceptable.
Insurance fraud can be as simple as misrepresenting facts on insurance applications, inflating insurance claims, or as serious as staging crashes and submitting false claim forms for injuries or damage that never occurred.
Staged auto crashes have become one of the safest white-collar crimes nationwide and New Jersey incidents rank among the highest. Automobile insurance fraud is a multibillion-dollar business and conservative estimates are that at least 30 cents of every premium dollar goes toward false claims. The insurance industry says phony claims can amount up to $10 billion each year.
One scam involves "squat' collisions where suspects purposely cause a rear-end collision at a stop sign or traffic signal. The suspect driver maneuvers the "squat' car into a position ahead of a selected unsuspecting victim, often a lone person driving a newer-model car. The suspect then brakes abruptly in front of the victim, causing a rear-end collision. As a result of the collision the driver and his passengers all claim injuries. In New Jersey, the operator of the striking vehicle in a rear-end collision is usually deemed to be at fault for either following too closely or driver inattention.
Another popular scam is known as a "swoop and squat.' The faker works a highway with a partner in another vehicle, carefully singling out victims in new cars. They look for distracted drivers whose minds may be elsewhere during commuting hours. Once they select a victim, one car maneuvers ahead and the driver of the "swoop" car cuts in front of the "squat' car, giving the driver reason to stop suddenly. The "squat' driver will suddenly brake hard, later claiming he had to do so to avoid an idiot who cut in front of him with no warning. Invariably, the victim of the scam says perhaps he was following too close and his insurance company pays the faked personal injury and property damage claim.
The best way to avoid being a victim of such scams is to drive defensively. If a vehicle suddenly darts in front of you slow down and increase the distance between vehicles. If you feel multiple vehicles are setting you up, slow down and pull over to the side of the road. If you are involved in a crash, make notes of what happened and of the condition and identity of the other driver and vehicle. Get identification and descriptions of the driver and all occupants. If a collision seems to be set up, immediately advise your insurance company and the local police department. Always drive safely.
Anthony Parenti was Chief of Police in Fanwood for 22 years. He recently retired as director of Stamler Police Academy. He is a past president of the New Jersey Traffic Officers Association and a past president of the New Jersey Association of Chiefs of Police. He has been an advocate for traffic safety since 1967.
Car Insurance Source
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Thanks Chief Parenti for this useful information.
Auto insurance fraud is an enormous problem in the United States and one that costs drivers millions of dollars each year. Unfortunately, some people do not realize the severity of this crime and are mistaken that insurance fraud is harmless and acceptable.
Insurance fraud can be as simple as misrepresenting facts on insurance applications, inflating insurance claims, or as serious as staging crashes and submitting false claim forms for injuries or damage that never occurred.
Staged auto crashes have become one of the safest white-collar crimes nationwide and New Jersey incidents rank among the highest. Automobile insurance fraud is a multibillion-dollar business and conservative estimates are that at least 30 cents of every premium dollar goes toward false claims. The insurance industry says phony claims can amount up to $10 billion each year.
One scam involves "squat' collisions where suspects purposely cause a rear-end collision at a stop sign or traffic signal. The suspect driver maneuvers the "squat' car into a position ahead of a selected unsuspecting victim, often a lone person driving a newer-model car. The suspect then brakes abruptly in front of the victim, causing a rear-end collision. As a result of the collision the driver and his passengers all claim injuries. In New Jersey, the operator of the striking vehicle in a rear-end collision is usually deemed to be at fault for either following too closely or driver inattention.
Another popular scam is known as a "swoop and squat.' The faker works a highway with a partner in another vehicle, carefully singling out victims in new cars. They look for distracted drivers whose minds may be elsewhere during commuting hours. Once they select a victim, one car maneuvers ahead and the driver of the "swoop" car cuts in front of the "squat' car, giving the driver reason to stop suddenly. The "squat' driver will suddenly brake hard, later claiming he had to do so to avoid an idiot who cut in front of him with no warning. Invariably, the victim of the scam says perhaps he was following too close and his insurance company pays the faked personal injury and property damage claim.
The best way to avoid being a victim of such scams is to drive defensively. If a vehicle suddenly darts in front of you slow down and increase the distance between vehicles. If you feel multiple vehicles are setting you up, slow down and pull over to the side of the road. If you are involved in a crash, make notes of what happened and of the condition and identity of the other driver and vehicle. Get identification and descriptions of the driver and all occupants. If a collision seems to be set up, immediately advise your insurance company and the local police department. Always drive safely.
Anthony Parenti was Chief of Police in Fanwood for 22 years. He recently retired as director of Stamler Police Academy. He is a past president of the New Jersey Traffic Officers Association and a past president of the New Jersey Association of Chiefs of Police. He has been an advocate for traffic safety since 1967.
Car Insurance Source
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Thanks Chief Parenti for this useful information.
Saturday, October 18, 2008
MILEMETER – FIRST IN THE NATION TO OFFER “AUTO INSURANCE BUY-THE-MILE
People who drive less, pay less for insurance.
DALLAS – October 15, 2008 – MileMeter, a licensed auto insurance carrier based in Dallas, has enabled Texas to become one of the first places in the world where drivers can buy auto insurance by the mile. With this revolutionary insurance product, people who drive less, pay less for insurance. The company launched the new concept of auto insurance today in Dallas and invited consumers to go to www.milemeter.com to learn more.
Designed for customers who drive up to 10,000 miles per year, this fair and affordable car insurance option can save an average of 10 – 40 percent on most policies. Drivers who will greatly benefit from MileMeter insurance include car poolers, stay-at-home moms, urban professionals, those who use mass transit or who work-from-home, or for households that have more than one vehicle that aren’t driven frequently.
“MileMeter is fair, affordable and sensible. With our pay-by-mile program, customers who drive the least, have the most to gain,” explains Chris Gay, Founder of MileMeter. “Our goal is to make buying car insurance simple, accessible and rewarding.”
Customer Benefits of MileMeter
Cost – Average policyholder (who fits criteria) will save 10 - 40 percent per vehicle, some will save more. Additionally, multiple drivers in a household can also be covered for a single vehicle.
Convenience – All purchasing, including quotes and renewal options can be done quickly, online.
Customization – Cost and terms of the policy adjust to fit each policyholder’s individual situation.
Cash savings – Insurance by the mile gives you another way to offset the rising price of gas. If you’re trying to buy less gas, now you can also buy less auto insurance.
Environmental and social impact – MileMeter rewards those who drive less. MileMeter customers will reduce our environmental impact on society with less taxation for road maintenance and construction, less transportation congestion, less demand for parking lots, fewer traffic injuries, and fewer tailpipe emissions.
DOWNTOWNDALLAS President and CEO John Crawford said, “DOWNTOWNDALLAS is thrilled to welcome yet another new company to the Central Business District, particularly one with an urbanistic business model and mission like MileMeter. The concept of incentivizing the public to drive less with lower auto insurance premiums is very much in line with our mission to create an authentic “live, work, play” environment that encourages people to walk more and drive less!”
Simple Concept – How MileMeter Works
To obtain MileMeter’s “buy-the-mile” auto insurance, consumers can go to www.milemeter.com and follow a simple, five-minute process which will provide an immediate quote. If consumers want to purchase MileMeter’s policy, they simply use a credit card or their Amazon.com payments account.
Consumers buy coverage, in advance, in increments of as few as 1,000 miles and as many as 6,000 miles in any six-month period. When their odometer reaches the end of that increment, they will renew as needed, without tracking devices. Any unused miles expire after six months.
The cost per mile is dependent on geography and the driver’s age as well as vehicle and coverage level, there is no difference in rates for women versus men or renters versus homeowners. However, MileMeter CEO Chris Gay says most many coverages are under five cents a mile.
“Paying for auto insurance when a car is sitting in the garage just didn’t make sense to me,” Gay noted. “Obviously, cars need insurance for how many miles they are driven, not how many weeks or months they are owned.”
While Gay’s logic for creating a new model for auto insurance seems obvious, it took more than five years to develop its business model, for state regulations to permit the new approach and for investors and backers to sign on.
Amazon.com named Gay and MileMeter a 2007 finalist in a national entrepreneurship contest which drew 900 entrants. The company was rated for its sound business model and ability for rapid expansion. All the pieces finally came together to allow the Texas launch.
“MileMeter will eventually expand strategically to other states, as elected officials and insurance regulators understand and respond to the customer benefits of ‘by-the-mile’ insurance,” Gay added, noting that auto insurance is highly regulated at the state level and there is a resistance to change traditional insurance.
Car Insurance Source
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Sounds like a "budget" car insurance, interesting for young drivers. Let's go take advantage of this auto insurance.
DALLAS – October 15, 2008 – MileMeter, a licensed auto insurance carrier based in Dallas, has enabled Texas to become one of the first places in the world where drivers can buy auto insurance by the mile. With this revolutionary insurance product, people who drive less, pay less for insurance. The company launched the new concept of auto insurance today in Dallas and invited consumers to go to www.milemeter.com to learn more.
Designed for customers who drive up to 10,000 miles per year, this fair and affordable car insurance option can save an average of 10 – 40 percent on most policies. Drivers who will greatly benefit from MileMeter insurance include car poolers, stay-at-home moms, urban professionals, those who use mass transit or who work-from-home, or for households that have more than one vehicle that aren’t driven frequently.
“MileMeter is fair, affordable and sensible. With our pay-by-mile program, customers who drive the least, have the most to gain,” explains Chris Gay, Founder of MileMeter. “Our goal is to make buying car insurance simple, accessible and rewarding.”
Customer Benefits of MileMeter
Cost – Average policyholder (who fits criteria) will save 10 - 40 percent per vehicle, some will save more. Additionally, multiple drivers in a household can also be covered for a single vehicle.
Convenience – All purchasing, including quotes and renewal options can be done quickly, online.
Customization – Cost and terms of the policy adjust to fit each policyholder’s individual situation.
Cash savings – Insurance by the mile gives you another way to offset the rising price of gas. If you’re trying to buy less gas, now you can also buy less auto insurance.
Environmental and social impact – MileMeter rewards those who drive less. MileMeter customers will reduce our environmental impact on society with less taxation for road maintenance and construction, less transportation congestion, less demand for parking lots, fewer traffic injuries, and fewer tailpipe emissions.
DOWNTOWNDALLAS President and CEO John Crawford said, “DOWNTOWNDALLAS is thrilled to welcome yet another new company to the Central Business District, particularly one with an urbanistic business model and mission like MileMeter. The concept of incentivizing the public to drive less with lower auto insurance premiums is very much in line with our mission to create an authentic “live, work, play” environment that encourages people to walk more and drive less!”
Simple Concept – How MileMeter Works
To obtain MileMeter’s “buy-the-mile” auto insurance, consumers can go to www.milemeter.com and follow a simple, five-minute process which will provide an immediate quote. If consumers want to purchase MileMeter’s policy, they simply use a credit card or their Amazon.com payments account.
Consumers buy coverage, in advance, in increments of as few as 1,000 miles and as many as 6,000 miles in any six-month period. When their odometer reaches the end of that increment, they will renew as needed, without tracking devices. Any unused miles expire after six months.
The cost per mile is dependent on geography and the driver’s age as well as vehicle and coverage level, there is no difference in rates for women versus men or renters versus homeowners. However, MileMeter CEO Chris Gay says most many coverages are under five cents a mile.
“Paying for auto insurance when a car is sitting in the garage just didn’t make sense to me,” Gay noted. “Obviously, cars need insurance for how many miles they are driven, not how many weeks or months they are owned.”
While Gay’s logic for creating a new model for auto insurance seems obvious, it took more than five years to develop its business model, for state regulations to permit the new approach and for investors and backers to sign on.
Amazon.com named Gay and MileMeter a 2007 finalist in a national entrepreneurship contest which drew 900 entrants. The company was rated for its sound business model and ability for rapid expansion. All the pieces finally came together to allow the Texas launch.
“MileMeter will eventually expand strategically to other states, as elected officials and insurance regulators understand and respond to the customer benefits of ‘by-the-mile’ insurance,” Gay added, noting that auto insurance is highly regulated at the state level and there is a resistance to change traditional insurance.
Car Insurance Source
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Sounds like a "budget" car insurance, interesting for young drivers. Let's go take advantage of this auto insurance.
Friday, October 17, 2008
Petrol price falls below a pound
The price of petrol has fallen to below the pound mark for the first time since December last year. In summer this year, prices for one litre elevated to beyond £1.10 and £1.20, for unleaded and diesel fuels respectively.
Supermarket and petrol providers, ASDA and Morrisons were the first to lower the prices to 99.9 pence per litre and it has been said that other petrol providers including BP will follow suit. This may be of great interest to car insurance customers as the cost of motoring can drop quite immensely.
The car insurance provider, the AA said that the ‘price war’ would work in favour of millions of motorists, with two car families be able to save around £40 per month on fuel prices from the price cuts, compared to their costs in July this year.
Edmund King, the AA president said: “We suspect that these new prices are right on the edge, if not below the point that retailing petrol remains profitable. This will be hard for other retailers to match.”
The lower fuel prices have also rippled out to airline travelers as the lower fuel prices have meant lower airline tickets, with some long-haul journeys falling from £218 down to £192.
Car Insurance Source
~~~~~~~~~~~~~~~
Sounds interesting for car insurance customers. I wonder if the car insurance companies would also make some price cuts due to this.
Supermarket and petrol providers, ASDA and Morrisons were the first to lower the prices to 99.9 pence per litre and it has been said that other petrol providers including BP will follow suit. This may be of great interest to car insurance customers as the cost of motoring can drop quite immensely.
The car insurance provider, the AA said that the ‘price war’ would work in favour of millions of motorists, with two car families be able to save around £40 per month on fuel prices from the price cuts, compared to their costs in July this year.
Edmund King, the AA president said: “We suspect that these new prices are right on the edge, if not below the point that retailing petrol remains profitable. This will be hard for other retailers to match.”
The lower fuel prices have also rippled out to airline travelers as the lower fuel prices have meant lower airline tickets, with some long-haul journeys falling from £218 down to £192.
Car Insurance Source
~~~~~~~~~~~~~~~
Sounds interesting for car insurance customers. I wonder if the car insurance companies would also make some price cuts due to this.
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