Wisconsin Auto Insurance Rates to Jump from Third Lowest to One of the Highest

With the backing and support of Wisconsin trial attorneys, Gov. Jim Doyle is proposing a raise in the minimum liability coverage for auto insurance policies in the state. If passed, this proposal will become part of Wisconsin auto insurance laws January 1, 2010 and could propel the state auto insurance rates from the third lowest to one of the highest in the country. The plan proposes to raise minimum coverage from $25,000 to $50,000 per person and from $50,000 to $100,000 per incident. Property damage will go from $10,000 to $15,000.

Why Missouri Experiences Highest Number of Auto Insurance Complaints

Like other states, Missouri requires auto insurance for its residents. However, the state offers several different ways for drivers obtain this kind of coverage. There’s the standard way — purchasing insurance from a company — but there’s also a ‘self insurance’ option. This allows someone to sign a guarantee bond with the appropriate authority, provide proof of his ability to pay, and then count that as insurance. This is called a surety bond. Whether the “policyholder” will be able to pay at the time of an accident, though, isn’t really guaranteed. The driver could lose ability to pay in between the time of the bond and the time of the collision or allow the standard insurance to lapse. In addition, the insurance company itself could be incapable of paying. All of those problems, and others, lead to Missouri auto insurance complaints.

U.S. Auto Insurance Market Veers into Underwriting Loss in 2009

The challenges facing the U.S. auto industry throughout 2009, with pressures ranging from the near-collapse of both General Motors and Daimler-Chrysler to various stimulus programs that have attempted to accelerate sales, have received significant attention. A tangential, yet equally important, byproduct of this battle is the fact the auto insurance market is likely to realize an underwriting loss for the year. Faced with lower premiums and higher loss costs, according to FitchRatings’ Auto Insurance Overview, the industry is experiencing the same economic downturn that is affecting the whole economy.

Texas Automobile Insurance Plan Association to Raise Rates by More than 2%

According to the Life Insurers Group news site, the Texas Automobile Insurance Plan (TAIPA) intends to raise auto insurance rates for its high-risk policyholders starting November 2009. TAIPA, the state’s high-risk driver plan, assigns insurance coverage to drivers who can’t get policies from private companies due to their high-risk status.

Survey Shows that Nearly 80% of Consumers Displeased with Auto Insurance Rates

A new survey released in mid-October by LowerMyBills.com shows that 79 percent of consumers feel that they are paying too much for their auto insurance. The same survey also reports that more than half of consumers have tried to reduce their auto insurance rates in the last year.

National Vehicle Theft Rate Lowest in 20 Years

According the Federal Bureau of Investigation (FBI), vehicle theft has dropped to the lowest rates in the past 20 years. This is a significant fact because the amount of cars, trucks, and SUVs on national highways has more than doubled. Here are some reasons why there are currently less instances of auto theft.

Michigan County Offers Driver’s Safety Class to Reduce Auto Insurance Premiums

Counties and municipalities across the United States are turning to a wide variety of measures to help reduce auto insurance premiums. This makes sense; the economy is still struggling. However, when insurance rates rise too high, it causes drivers to drop their auto insurance as they struggle to pay their other bills. This isn’t good news for anyone. Motorists who drive without insurance are breaking a state law and can face serious fines if caught without coverage. In addition, insured drivers then struggle to collect any payments should they get into an accident with an uninsured driver.

Insurance Companies Changing Terms of Auto Insurance Policies to Encourage Customers to Go Green

There is a new trend in the auto insurance industry that involves insurance companies offering their clients better rates as an incentive to reduce their carbon footprints. In the car insurance market, the state of California recently approved an initiative permitting insurers to offer their customers auto insurance policies with adjusted rates, using a system known as pay-as-you-drive. This minimizes the driver’s emissions. Many insurance companies are also offering discounts to those who chose to purchase hybrid vehicles, also minimizing a driver’s effect on the environment when driving.

How Renewing Your Own Headlights Can Save You Money and Increase Safety

October is National Headlight Safety Month. It is also the time when days get shorter and daylight savings time ends (October 31). Shorter days mean longer nights, so you are turning your car’s headlights on earlier. At night your field of vision is drastically reduced. Headlights that are dim or burnt out make it hard, and sometimes impossible, for other drivers to see you. They also make it hard for you to see what is in front of you.
Now is the perfect time to check your headlights and make sure they are working and emitting enough light onto the road.

Dallas Drivers with Poor Credit Pay 35% More for Auto Insurance

If you’re a good driver, you pay lower car insurance rates, right? Wrong. Although many drivers think that the only factor involved in determining their car insurance rates is driving history, there are actually quite a few variables that go into determining car insurance, including your credit score. And that’s what many residents in Texas are finding out.