Florida Governor Rick Scott is claiming a major victory on behalf of the state’s citizens this week. The state Senate has passed legislation that will reform the state’s troublesome personal injury protection (PIP) auto insurance system. The system has been wrought with fraud for several years, becoming much worse over the past two. Legislators supporting reform claim that this fraud was causing auto insurers to raise rates on coverage at alarming speed. The new legislation seeks to remedy the problem. The legislation that was passed by the Senate is House…
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Insure.com releases survey showing where in the U.S. auto insurance is most expensive
Car insurance rates vary wildly from state to state. This is often due to differing regulations throughout the U.S. It is also because driving in some states is more dangerous than driving in others. Insure.com, an online insurance quote system, has conducted a survey to determine where auto insurance is most expensive in the country. The survey has ranked each state in terms of insurance premiums and the availability of affordable plans, using 900 insurance models as a benchmark. The survey found that Louisiana, Oklahoma and Michigan are the leaders…
Read MoreEU “unisex” laws take their tolls on the finances of both men and women
The latest rule changes in the European Union involving unisex pricing have meant that at the end of this year, when the regulations go into effect, men and women will both be facing expenses that they have never seen before. A primary example of this change is the ruling that prevents gender discrimination while establishing auto insurance premiums – regardless of the fact that it is less likely that a woman driver will be involved in a car accident than a man driver, and that crashes involving female drivers are…
Read MoreSaving money by better understanding your auto insurance coverage options
According to a news release issued by the Insurance Information Institute has shown that consumers purchasing auto insurance for the first time, or who are renewing an existing policy, should contact their agent or company rep to ensure that they are receiving the coverage that they need and at the best possible rate. Accomplishing this requires the consumer to educate him or herself at least a little bit about the various coverage options that are available. One of the best ways to obtain this information is simply by asking questions…
Read MoreStudy finds that disabled individuals pay more for auto insurance than those without disabilities
A new study from 4AutoInsuranceQuote.org, an auto insurance quote provider, shows that the disabled are paying more for their insurance coverage than other consumers. This may conflict with a federal law that bars insurance companies from using a disability as a pricing point for coverage. The study accounts only for the New York auto insurance market, but it may reflect pricing trends throughout the country. According to the Americans With Disabilities Act of 1990, this practice counts as discrimination and may cause some problems for insurers if they cannot justify…
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