Car Insurance Roundup, April 5, 2016


10 Cheapest States for Car Insurance | Credit.com

ar insurance can be really cheap or extremely expensive, and sometimes, it can seem like one small thing can make a huge difference in how much your premiums cost. There are the obvious factors, like your driving record and the value of the car you drive, that can significantly affect your insurance premiums, but things like your age, sex and ZIP code can make a big difference in price, too. 


Compareit4me.com announce savings of AED 1 mln following launch of car insurance comparison portal | CPI Financial | CPI Financial News | Banking and Financial News,Islamic Business and Finance, Commercial Banking

The impressive savings come after a recent survey by compareit4me found that nearly two thirds of consumers believe they would save money on their car insurance if they stayed with the same insurer.

“Saving consumers money is really the bedrock upon which our business was founded,” says Jon Richards, CEO of the compareit4me Group. “We’re delighted that our car insurance comparison portal has saved our customers almost AED 1 million in the first month of operation, with the portal writing over AED 4 million worth of car insurance policies.’’ 


How The 2016 Budget Will Impact UK’s Insurance Industry

UK’s recent budget has seen an increase in insurance premium tax (IPT) by 0.5%, taking the current rate to 10% in order to raise over £700 million for much needed flood defence in the UK. The tax on sugary drinks is equally supposed to raise an additional £520. This is the second increase in a year after the rate was hiked up from 6% to 9.5% in July last year. This plans to raise £8 billion over 5 years for the UK government.

The changes will result in higher costs to insure all vehicles, homes, medical, petsand business policies. But it excludes insurance for aircrafts, mortgages and life policies as these already come with VAT.


Motoring group AA full-year earnings drop 3.3 percent, insurance hit | Reuters

Motoring group AA (AAAA.L) reported a 3.3 percent drop in trading earnings for its financial year on Tuesday, partly due to a fall in contributions from the insurance business.

AA provides roadside recovery and insurance broking services and started underwriting insurance in February.

Car insurance prices have been weak in recent years, but have started to rise in the past few quarters, due in part to a rise in insurance premium tax.

The AA has passed the tax rise, to 10 percent from 6 percent, onto customers, Executive Chairman Bob Mackenzie said.

But he added: “It has made price increases very difficult.”

Investment in IT, marketing and diagnostic technology also contributed to the drop in earnings, AA said, though analysts at Cenkos saw “improvement in customer trends once the IT transformation kicks in”. 


TQM unveils omni-channel insurance sales platform – The Nation

TQM INSURANCE Broker has announced that the company is developing an omni-channel platform as an integrated marketing approach to optimise customer services nationwide.

In addition, the company plans to launch personal agents certified by TQM during the third quarter of this year.

TQM president Unchalin Punnipa said that after insurers progressed from face-to-face marketing two decades ago to successful telesales systems, digital and social-media marketing was now playing a significant role in the insurance business.

That is why TQM has adopted omni-channel marketing as a total solution to meet changing customer lifestyles for sales and after-sales services. 


Polaris Slingshot: A car or a motorcycle? | Grand Forks Herald

The Polaris Slingshot, a three-wheeler looking like something out of a superhero movie, came under scrutiny Monday by Minnesota senators considering whether the relatively new vehicle should be treated like a car or motorcycle.

Both, the Senate transportation committee decided

While federal authorities consider the three-wheeled vehicles motorcycles, committee members decided it is so car-like that operators should not need motorcycle driver’s licenses. They also decided an owner could opt for either motorcycle or the more comprehensive car insurance for the vehicles.

The legislation, which faces debate in other committees, attracted senators’ attention mostly because the so-called autocycle is a pretty new concept. 


Toyota partners with Microsoft in connected car services- Nikkei Asian Review

Toyota Motor is expanding its cooperation with Microsoft in a push to bolster services involving Internet-connected automobiles.

Subsidiary Toyota Media Service has created Toyota Connected in the U.S. state of Texas at a capitalization of roughly $5.5 million, with Microsoft obtaining a 5% stake in the unit. Microsoft invested in Toyota Media Service in 2011.

Toyota Media Service’s current businesses include distributing traffic information based on data collected from vehicles on the road. The Texas startup hopes to recruit data-analysis experts using the U.S. software giant’s brand power. It plans to hire about 40 such specialists in 2017. 


Editor’s Notes 2.0: First-Car Excitement – Body Shop Business

All I’ve been reading about lately is how the young people of today aren’t as interested in driving as previous generations. But I can tell you one kid who was practically doing handsprings down his driveway when his first car rolled up: my son.

Granted, he’s a car guy. He thinks it’s not a car if it doesn’t have manual transmission. He loves going to car shows and can rattle off his top five at the drop of a hat. The thought of a robot car driving him around some day makes him furious. And just like the MTV study indicated several years ago, he would gladly surrender his cellphone before his wheels. 


How Much Car Can You Afford? Understanding the Numbers

Before you drop by a car dealership and inhale that intoxicating new-car smell, you need to estimate the cost of a new car — and we’re not just talking about the monthly loan payment — so you can understand how it fits into your budget.

Keep this in mind before you decide to just wing it at the dealership: If you take a few minutes to understand some key figures, you will save hundreds, maybe thousands, of dollars in the long run. Not only that, you won’t be putty in the hands of a car salesman. 


Trees falling in roadway: Who’s responsible for the damage? | WTVC

A tree falls into your car while you’re driving down the roadway.

That’s exactly what a Chattanooga woman had to deal with Friday while driving down Signal Mountain Road. So who is responsible for the damage?

The City of Chattanooga uses a software program to help determine the answer. It’s dubbed the city’s geographical information system. Friday morning, Michelle Davis was driving down Signal Mountain Road when a limb from a falling tree pierced her windshield. 


DLT to submit foreign car regulations for Thai Cabinet approval

DLT Director-General Sanit Promwong reported on the progress made to draft regulations for foreign vehicles crossing the border into Thailand. The department will submit its proposed regulations for Cabinet approval this week and subsequent promulgation in the Government Gazette. The DLT chief expects the new rules to take effect in June.

According to the proposed regulations, motor vehicles entering the Kingdom on a temporary basis must not have more than nine seats, including the driver, or exceed a total weight of 3.5 metric tons. The rules would not apply to vans, RVs, or motorcycles, which are only permitted within the customs checkpoint area. 


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