Car-sharing has increased dramatically in the past year, especially in Denver where it has doubled, according to The Denver Post. Bruce Finley’s article “More Denver residents embrace car-sharing” says that the nationwide increase was about 16%. For a monthly or even just an hourly fee, one of 27 car-sharing companies around the U.S. covers Read more…
Archive for the ‘Insurance Auto’ Category
What Do Top Car Insurance Companies Think of Increased Car-Sharing?
May 10th, 2011 by Crystal DavisNY Facing Fallout from Car Insurance Fraud
May 3rd, 2011 by Crystal DavisShare
The state of New York is known for many things: The Statute of Liberty, being the “Big Apple” and having the Financial District. Now the state is known for its problems with auto insurance fraud. Many criminals are staging car accidents in order to collect money from auto insurers. This has become a huge problem because New York is a state that has no fault auto laws.
No fault auto insurance laws mean that no matter who is at fault for causing a car accident; the insurance claim filed by either party will still be paid. No fault auto law states have been targets of mass cases of auto insurance fraud for years. Man
No-Fault Payouts from Car Insurance Companies
April 29th, 2011 by Crystal DavisShare
According to the Rochester Homepage in New York, lawmakers in the state are working to crack down on fraudulent no-fault car insurance claims. This is good news for car insurance companies, especially those dealing with fraud related to no-fault car insurance claims. After a car accident, no-fault insurance allows drivers to be paid out even though the blame for the car accident is not placed on either driver. Unfortunately, New York state lawmakers say that there are a lot of fraudulent claims being paid out and that New Yorkers are paying millions of dollars a year for these fraudulent no-fault claims.
Some criminals actually create car accidents so that they can file a no-fault insurance claim with their car insurer. Insurance companies like Infinity auto insurance are obviously not happy about that and will be pleased to see lawmakers help cut down on false claims. Lawmakers have already made it a felony to cause a car accident intentionally, the first step in cutting out this fraud. Even though there aren’t that many people filing fraudulent claims, it really does effect everyone because it causes car insurance rates to increase. Lawmakers hope to find a way to cut down on this expensive fraud very soon.
NC Laws Might Impact Car Insurance Rate Caps
April 23rd, 2011 by Crystal DavisCar insurance coverage laws are ever changing which for many people can be a double edged sword for them. Every time that the majority party in the Senate or House changes, the newly elected politicians changes the rules in regards to car insurance laws.
In the state of North Carolina, the General Assembly will be voting on three car insurance related bills soon. These bills are called Senate Bill 477, Senate Bill 490, and House Bill 834. The bills are controversial because if passed and enacted they would make residents in the state face higher monthly car insurance premiums.
What these bills aim to accomplish is to strip the state’s insurance commissioner of his authority to oversee the insurance rates that car insurance companies give to their policy holders. A