5 Reasons to avoid Cheap Auto Insurance

High-deductible health insurance enrollees are on the increase

The only reason to get cheap auto insurance is so that you can save money in the long run. But like anything that you buy in life, you get what you pay for. You naturally want to get the best price and service for your money, but what is not a well known fact is all the factors that can actually make choosing a cheaper alternative that can be much more costly for you in the future. Reason 1: What are you covered for? Your eyes have probably lit up…

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China is likely to allow foreign companies into its mandatory auto insurance marketplace

The Insurance Association of China’s chairman has announced that the country will likely be opening its doors to the largest auto market in the world to make it possible for foreign companies to enter into the mandatory auto insurance marketplace in 2012. Currently, this auto insurance market of $31.5 billion is entirely led by insurance companies from China, for example, Ping An Insurance and PICC Property and Casualty Co., but regulators are working to bring in a greater amount of competition. Jin Jianqiang, in Taipei, explained that insurers from other…

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Data shows one in seven American drivers is uninsured, despite legal requirement

Regardless of the fact that almost every American state has an auto insurance requirement law, one in every seven drivers is still uninsured. This statistic was assembled by an industry group, which estimated that 13.8 percent of all drivers in the country do not have auto insurance. This number has risen since before the beginning of the economic downturn, as many people struggle to make ends meet and have allowed their coverage to lapse. Vice president David Corum, from the Insurance Research Council – which is an insurer-supported non-profit organization…

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