Travel Insurance 24

Insurance claims from winter tornadoes that slammed several states in the Midwest and Southern regions last week are expected to reach as much as $2 billion, according to a report released by risk-modeling firm Eqecat Inc. In the wake of the massive devastation caused by the storms, it’s important for those with homeowners insurance to understand the process of filing home insurance claims.

Tornado Insurance Claims Higher than Average

As noted in Eqecat’s report, the massive damage caused by the more than 150 tornadoes hitting states like Tennessee, Kentucky, Missouri, Indiana, Illinois and Alabama from Feb. 28

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Auto insurance claims are on the rise across the country according to a new report released by the Insurance Research Council (IRC). The report, issued this week, found that the increase in costs is reversing previous trends of relatively stable costs that have even declined in some cases.

Auto Insurance Claims Severity and Frequency Increasing

The new Insurance Research Council report, titled ”Trends in Auto Injury Claims, 2011 Edition,” has revealed some shifts in previous auto insurance claims trends.

In the previous few years, reports from the IRC found that while injury claim severity (the average cost of injury claims) has been on the rise, it has always been offset by declining claim frequency. Howe

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According to the National Insurance Crime Bureau suspicious insurance claims are up by 21% this year. This of course will not help your premiums get any lower. There are still many companies offering fairly cheap car insurance despite these astonishing numbers. The cheapest companies out there right now are the ones who are very exclusive with their coverage limiting to those who have a spotless record and denying coverage to those who don’t. I

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