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A blog for insurance that is dedicated to publishing the work of our guests, not the views of the webmaster. So if your into insurance enough to blog about it why not submit your content.
A blog for insurance that is dedicated to publishing the work of our guests, not the views of the webmaster. So if your into insurance enough to blog about it why not submit your content.
on November 7th, 2011
These times can prove to be hard on a lot of people, especially from a financial point of view. With salaries sliced and a lot of people flat-out losing their jobs, it can be harder and harder to deal with the bills that just keep piling up. As a result, the state of California has seen a drastic increase in cases of suspected car insurance fraud.
Insurance fraud can prove to be a tempting opportunity for a lot of desperate people that need cash fast. That is why, according to the California Department of Insurance, referrals pertaining to suspected auto arson and theft fraud are on the rise. Commissioner and spokesman for the California Department of Insurance Steve Poizner announced that their studies and statistics show that this is not a random increase and that the cases of suspected fraud have been climbing steadily in recent years. Poizner sympathized with the people that are going through financial struggles, but he mentioned that breaking the law in order to gain money fast will only cause a lot more problems for them in the long run. Seeing the increase in fraud cases, the Department of Insurance’s response will be to dedicate for manpower and more hours focusing solely on exposing attempts of car insurance fraud.
The department is tasked with investigating claims of insurance fraud that they receive from the branches of local law enforcement, from insurance agencies, as well as consumers themselves. According to their findings, 2008 saw 451 cases of suspected automobile arson fraud. Compared to that, 2007 saw only 344 referrals pertaining to the same subject. That shows an astonishing 31% increase in potential fraud cases from one year to another. Cases of suspected vehicle theft fraud saw a similar increase from 2007 to 2008. Overall, referrals both of suspected arson and theft fraud increase by almost 300 in just a year in the state of California. Insurance fraud inevitably leads to higher insurance rates, which makes it even more imperative for California residents to hunt down the cheapest car insurance in California.
Other aspects of vehicle fraud, like hit and runs, cases of vandalism and exaggerating the damages in road accidents have maintained steady. Unfortunately, it is the most severe cases of auto insurance fraud that are on the rise.
The California Department of Insurance is very disturbed by these findings and they will focus most of their attention on investigating potential cases of insurance fraud. Already, since Steve Poizner took over the position of commissioner within the department in 2007 there has been a serious crackdown on fraud related crimes. During his tenure the commissioner controls sixteen different Enforcement Branch offices spread out in different regions throughout the state of California. So far there have been almost 1900 arrests made in insurance fraud cases since Poizner took office, more so than any other commissioner, so anybody that is contemplating committing auto insurance fraud should seriously reconsider.
on November 2nd, 2011
While electric cars are still considered as a niche market, this vehicle is considered the wave of the future. The current environmental issues as well as technological innovations have allowed this once maligned vehicle to become the focal point of many carmakers research and development efforts nowadays.
When the electric car becomes common on the roads, as required by law, insurance coverage becomes an issue. Currently, because there is no clear distinction between petrol vehicles and electric vehicles, many insurance companies are wary of insuring electric cars. Because these vehicles are very new, there are still many issues that cause many insurers to worry about these kinds of vehicles.
This worry stems from the higher price tags of electric cars. Because of the high technological requirements of electric cars, these vehicles often require specialist repairmen and work to allow them to become road worthy again. These two factors by itself drive up the cost of insurance premium coverage for electric cars. This is the current market condition but soon enough the prices would stabilize allowing for better prices and coverage for electric cars. In the meantime, the following are tips on purchasing electric car-insurance coverage today.
Do research. This research involves asking quotes and shopping around for the most suitable insurance coverage for your electric car. Remember that the lowest price does not mean the best coverage for your vehicle. Compare quotations from insurers to determine which one you are most comfortable with for your electric car.
Find Specialists. Many big insurance companies find business with electric cars not worth their while, because of their relatively small numbers. Finding specialist insurers, who are knowledgeable in the market, can be quite difficult but they fully understand the needs and requirements of an electric car owner. Again, do research even with these kinds of specialists to find the best plan for your car.
Clarify Specifics. When discussing specifics with your insurer, do advise if your electric car has a leased battery or an owned battery. Also, discuss cable liability. Because of the increased risk of slip and fall accidents, use of extensions or incompatibility with existing wiring, cable liability is an issue that can increase the overall premium of your electric-car-insurance.
Thus, in purchasing an electric car, do be very wary of the insurance coverage requirements for the vehicle. While the current market still pegs premiums well above the premiums for internal combustion engine cars, the future would see a market correction leading to lower price. Until that time comes, insurance coverage for your electric car is necessary for it to be allowed on the roads. In finding the right one, do research on premiums and coverage, find insurance-specialists and clarify specifics for your electric car insurance coverage. This is just one step in the right direction.
For a more comprehensive discussion on electric cars, do visit us at Touting Electric Cars for Business please visit the author’s site The Electric Forum
on February 14th, 2011
Many people buy their own cars because it makes life easier. However, many also struggle with the costs that come with maintaining a car especially when it comes to making car insurance payments. Many car owners are continuously in search for better ways to lower their car insurance premiums. What most do is simply search for companies that provide cheap car insurance. However, what many do not know is that they can save so much more just by following a few simple tips.
For those who aim to save on car insurance payments, the first thing to do is make sure to shop around every so often. In fact, the reason why six-month car insurance polices are most preferred is that it allows car owners to switch and buy car insurance from other providers at the soonest possible time. This means that it is important to continuously survey the insurance market to search for the cheapest car insurance around. Some people find that it is most effective to check out rates for car insurance online while others learn about the cheapest services from their friends and family. No matter what your preferred method for getting car insurance quotes may be, the bottom line is to find the best car insurance to not only suit your lifestyle but your budget as well. Many people who make this a practice report savings of over $300 on policies valid for six months. This would translate to so much more in a span of one year.
Another thing to consider when trying lowering your car insurance payments is to take the option for higher deductibles. Many car owners feel afraid to do this because choosing higher deductibles means shelling out so much more money in case they get into a huge accident. However, the logic behind choosing higher deductibles is pretty sound. Obviously, higher deductibles mean lower premiums. Therefore, lower car insurance payments. Car owners should not worry too much about higher payments when a major accident happens because minor accidents happen more often than major ones and when it comes to minor damages, car owners will still pay the same amount.
Many motorists prefer paying for their premiums in monthly installments because it allows them to shell out a relatively smaller amount at a given time and budget their car insurance payments along with the rest of their monthly expenses. However, what they do not realize is that even the cheapest car insurance providers add on administrative fees for each payment. Even if the additional amount is only $7 or so, for people paying their premiums at monthly installments, this could easily add up to $84 which they could have saved over the period of that one year
Another useful tip to help you lower your car insurance payments is to also look around for companies providing multi-line insurance. This means that you purchase all your insurance from the same company. Most insurers offer huge discounts for this. However, many people still try to look for cheap providers for each type of insurance they need. What they do not realize is that getting their car insurance and home insurance from just one provider can easily translate to about 15% savings.
Furthermore, if you think of yourself as a good driver and no evidence to prove otherwise can be gathered, here’s a good tip for you: look for car insurance providers that can reward you with big discounts simply because of your driving. In fact, some states such as California have made it illegal for car insurance providers to disregard good driving discounts. So, if you have not gotten yourself into any car accidents or received tickets for at least the past three years, do some research or ask around. You may qualify for lower premiums.
Nowadays, a lot of insurance companies will base the prices of their car insurance policies on your credit history. If you have been diligent in building a solid credit standing, then you stand a good chance on getting lower car insurance quotes when you buy car insurance. Aside from making sure unpaid bills don’t pile up, keep your credit balance as low as possible and don’t acquire more credit than you need. Keep your records updated and make sure to correct any errors so your credit history remains accurate.
Many car insurance companies also offer discounts to people whose cars have safety features. Airbags, seatbelts, anti-lock braking systems and other factory-installed safety features on your car may help you find the cheapest car insurance you can get. Make sure you tell your insurer that you have such features installed on your vehicle when you get car insurance quotes.
Sometimes it pays to be diligent to the point of being anal. If you want the cheapest car insurance you can get, you should review your car insurance coverage to check for unnecessary expenses in it. If you’re not thorough you may be spending on additional coverage that you don’t need or already have. A perfect example would be towing services. Most, if not all, auto clubs provide such services yet this is part of most car insurance policies as well. So before you buy car insurance review the car insurance quotes you’ve gotten and eliminate all the unneeded expenses.
If you’re looking for cheap car insurance, look for insurers that give discounts to students and senior citizens. Some car insurance companies will offer discounts for students with good academic records and for drivers over the age of 50. Ask around or research on car insurance online, as well, if you have a college student in your family. Some insurers give discounts to parents with college-age children who go to school a certain distance away from home and don’t bring a car to their campus.
One last great tip to lower you car insurance payments is to use your car less. There are a lot of car insurance companies that will give you discounts if you keep the annual mileage on your vehicle low. So, evaluate how you use your car. If you make frequent short trips around town you might consider planning ahead and organizing all your errands so you can check all of it off your list in as few trips as possible.
One thing to remember though is that car insurance companies may differ in what they consider to be low annual mileage, so do your research. If you think you might be able to lower your mileage then get updated car insurance quotes.
Following just a few of these recommendations will surely help you lower your car insurance payments. Remember, it is not always about finding the cheapest car insurance provider. Most of the time, it is simply about knowing your options and weighing them to find the perfect car insurance strategy for you.