Hidden Admin Costs Raise Price Of Car Insurance
Motorists are being hit by large ’sneak’ fees for small administrative tasks on their car insurance policies, according to a study by Uswitch.com. 14 million drivers are paying out further costs to their insurers, even when there is no change to the amount of their premiums, simply for minor paperwork changes. The website estimates that this practice earns insurers £330 million per year.
There are some administrative changes which will affect the cost of premiums, such as moving from a safe neighborhood to a more dangerous one. But consumers are outraged at fees levied solely to cover administrative costs. Read more
Three Ways To Find Quality Car Insurance Online
The old ways of finding car insurance are getting less and less efficient everyday, the most reliable way of finding quotes is to go online and get multiple quotes and then compare. There a few tips I can give you to make finding the right insurance a little bit easier.
1- Find a quality website, the type of website you choose will either make things a lot more difficult or make things very stream line and quick. A website should have a simple interface that either requires your state or zip code, once you put that info in you should be given the best results for your area. Read more
Louisiana House OKs Car Insurance Hike
By Doug Simpson
Louisiana should raise the minimum level of required automobile insurance, the House of Representatives voted on May 19, an increase that would mean higher insurance costs for over 1 million motorists.
Supporters of increasing the insurance minimum said the state’s current minimum levels were set in the early 1980s, when health insurance and automobile costs were far lower. The bill’s sponsor, Rep. Erich Ponti, said Louisiana has the lowest minimums in the nation.
Opponents said 1 million residents should not face higher insurance costs at a time of rising food and fuel prices. Rep. Mert Smiley said he thought the increase would cause motorists to drop insurance altogether, to avoid paying the higher fees.
“There are a lot of people struggling right now, and this may be the … straw that broke the camel’s back,” said Smiley, R-Port Vincent.
The House approved the bill with a vote of 57-33, sending it to the Senate. The Legislature passed the same changes last year, but that bill was vetoed by Gov. Kathleen Blanco.
Gov. Bobby Jindal has not taken a public position on the bill. His spokeswoman, Melissa Sellers, did not immediately respond for comment.
State law now requires car and truck owners to have “10-20-10″ minimum motor vehicle liability coverage: $10,000 coverage for damage of other people’s property, $20,000 coverage for injury or death to more than one person in an accident and $10,000 coverage for injury or death to one person.
The bill by Ponti, R-Baton Rouge, would raise that minimum requirement to “25-50-25.”
Ponti said the change would lead to lower payments for those who carry more than the minimum insurance coverage, as insurers adjust their rate schedules to the change. He recommended that motorists facing higher costs because of the new minimums could save money by raising their deductible from $500 to $1,000.
He estimated most affected motorists would face cost increases of no more than 10 percent. Read more
Alabama Legislature OKs bill to boost car insurance requirements
Alabama Legislature OKs bill to boost car insurance requirements. A bill on its way to the governor’s desk in Alabama would require motorists in the state to carry more liability insurance. Other legislation that is sidelined was intended to encourage people to obtain proof of vehicle insurance.
For the past several years, drivers in Alabama have been required to carry liability insurance. The minimum amount has been set at $20,000 for a single injury or death, $40,000 for multiple injuries or deaths, and $10,000 for property damage. Read more
Tips on How to Get the Best Car Insurance Rate
Many claim that their tips on how to get best insurance rates are useful and will save you money but they remain useful for just reading and not applicable when you “really” go for that in reality. To me the most effective tips on how to get best car insurance rates are following.
• Simplicity and avoiding too much complexions is first best tip.
For example, Make a budget gain your credit card report and use “online ” and “off line ” quotes and prices to select a policy meeting your demands after your checking of reliable sources of its “creator company”.
• Working with an insurance agent and a legislature saves you both time and uninvited frustration. Following their free tips available on internet or any library saves money as well, another best tip. Read more