Live Insurance News

Florida auto insurance costs more than coverage in most other states

March 30, 2016March 29, 2016 G. Turner

Research has shown that car coverage in the state costs up to 25 percent more than the U.S. average. According to newly released data from Insure.com, drivers in Florida are still facing very expensive auto insurance, to the point that they are paying up to 25 percent more than the average across the rest of the country. The report on the data analysis determined that Florida is the eighth most expensive state in the U.S. The average amount paid for auto insurance premiums in Florida was $1,654. When compared to…

North Carolina legislation could reduce auto insurance premiums

June 15, 2015June 17, 2015 S.Vagus

House committee approves legislation to provide restricted licenses to undocumented residents A legislation approved by a North Carolina House Finance Committee could make auto insurance premiums lower for drivers in the state. The legislation would grant limited driving privileges to undocumented immigrants. These people would be required to have auto insurance coverage, as mandated by the federal government and state law, and the influx of new consumers could be good news for other drivers in the state. Insurance rates could go down by a modest degree because of the new…

Shedding Light on Insurance Fraud

August 23, 2014August 22, 2014 Note From The Editor

Fraud is not something that many people understand The insurance industry has to deal with a wide range of financial risks that often result in losses. One of the most things that insurers have to fight on a constant basis, but something that receives relatively little attention from consumers, is fraud. Insurance fraud is a longstanding problem that has no simple solution. Many people do not realize that fraud is not something that insurance companies suffer from alone. Fraud has a major impact on the finances of policyholders as well.…

Auto insurance affordability is American government’s next focus

August 6, 2014August 4, 2014 G. Turner

Regulators are now taking a look at how much it costs to cover vehicles across the country. Over the last few years, the federal government has started to amass a list of consumer complaints and has built a database about credit card companies and banks, which has more recently included auto insurance companies. A federal office has now announced that they will be placing their focus on car insurance premiums. The office first made the announcement back in April that it would be increasing the efforts that it was making…

Auto insurance fraud used a deer to fake a $5 million claim

June 2, 2014June 2, 2014 Julie Campbell

A 63 year old body shop owner from Philadelphia has been accused of hundreds of scam charges. A man from Philadelphia is now facing hundreds of charges relating to his auto insurance fraud activities, in which he used deer carcasses, fur, and blood to make it appear as though the vehicles had struck the animals on the road. The participants in the scam would then file inflated claims so that insurers would pay for the “repairs”. According to investigators, the accused, Ronald Galati Sr. had a rather clear motto, which…