Car Insurance Roundup, April 12, 2016

Why a dashcam could save you money on your car insurance

Cutting the cost of your car insurance has traditionally involved increasing the excess, reducing your annual mileage, adding a more experienced driver to the policy and paying for it up front (rather than in instalments). But insurers are increasingly willing to knock off between 10 and 15 per cent just for you installing a dashcam in your car. 

New tech to wipe £14bn off UK car insurance premiums | Auto Express

Radar, WiFi roads and autonomous cars will be trialled in the UK by the end of 2017 as part of a £150million Government project. Unveiled by Highways England, the strategy will run until 2021, and advances in this driver assistance tech are expected to reduce car insurance premiums by more than £14billion. 

Study: Waukegan residents pay more for car insurance – Lake County News-Sun

A study of 27 Illinois insurance companies found Lake County residents pay more in car insurance than the average Illinois driver.

The study, published by New York-based ValuePenguin, found that Waukegan has the highest car insurance costs within Lake County, coming in with an average annual rate of $1,160.

While age, accident history and type of car can affect insurance premiums, ValuePenguin analyst Frankie Kuo said residence has a direct effect on insurance costs.

“Insurance companies make a profit by making sure the amount of money they collect from the premium at least balances out against the money they may need to pay in claims,” Kuo said. “That’s why a bad driver with many accidents will be charged more than a safer driver. 

Allstate raising car insurance rates |

The Georgia Insurance Commissioner has issued a Consumer alert and has launched  an investigation into why Allstate  is raising automobile insurance rates and if it’s warranted. The rate increase of 25 percent will be implemented in May 22nd. Insurance Commissioner Ralph Hudgens warns policy holders that the automobile rate increase of 25 percent is just an average and that many policyholders should be prepared to see a rate change as high as 58.3 percent.

“I am deeply concerned about this filing and the impact it could have on consumers,” Commissioner Hudgens said. “Georgia law prohibits me from stopping or delaying this increase unless an actuarial examination proves the rate to be legally excessive.” 

Black box insurance: how young drivers can reduce their car insurance premium | Carbuyer

For many motorists, the pride and excitement of getting their driving licence is often tempered when they start getting car insurance quotes. Young drivers – particularly males under 25 – face sky-high premiums, as they’re generally seen as being high-risk propositions for insurance companies.

Fortunately, there’s a solution, in the shape of allowing your insurance company to fit a ‘black box’ to your car. This is also known as telematics insurance or pay-as-you-drive insurance. 

Car Insurance Calculation Guide: A Simple Lesson In Car Insurance – DriveSpark

Have you ever wondered how insurance for your car is calculated? You must have heard terms such as Insured Declared Value (IDV), No Claim Bonus (NCB), and Depreciation and more and thought ‘what does this all mean?’ Here is a simple guide as to how to calculate your vehicle insurance and all the other essential data related to car insurance. 

Get Low Car Insurance Premiums By Following These Simple Tips! | Virtual-Strategy Magazine

There are several ways to reduce coverage expenses. Drivers can always refer to the list of tips that can be found in the latest article. The tips are provided by professional brokers with a deep understanding of how insurance ratings are determined. Clients can also reduce their coverage expenses by shopping around, which is now simple and free.

Finding the best auto insurance plans is no longer as difficult as it was in the past. Drivers now have all the resources on a single website: The website works with many brokers to find great rates for each customer. They do this in an efficient way and they do not limit themselves to just one provider. The key to get better coverage prices is to compare competitive prices. 

Unhappy With Your Insurance Plan? Use Online Car Insurance Quotes to Find Better Options! |

If a driver s unhappy with his/her current plan, quotes can show where and if there are better options available. There are many reasons to change providers. Either the agency is unresponsive or the premiums are too high. Regardless of the motive, changing providers is completely free at the end of the policy.

It can be more complicated to switch providers when the policy has not expired. This may come at a fee. But comparing auto insurance quotes can tell the driver whether such an expense is worth it. Furthermore, comparing prices may actually reduce premiums by more than 25% and in some cases up to 50%.

“Drivers can always get multiple car insurance quotes online, by visiting our website. If you want to change providers, we can show you which companies have the best prices and coverage options for your vehicle.” said Russell Rabichev, Marketing Director of Internet Marketing Company. 

Skokie Among Places with Most Expensive Auto Insurance | Patch

Skokie’s average annual car insurance rate comes to $1,424. That number trails only Chicago ($1,733), Cicero ($1,536) and Berwyn ($1,432) as the most expensive places to live when it comes to car insurance. Oak Park rounded out the top five ($1,352).

Financial website ValuePenguin crunched those numbers and found Skokie’s average is about 27 percent more than the state’s annual average cost. That’s equivalent to a $303 higher cost for the sample motorists polled in the study. 

Zebulon man finally gets Geico to pay up |

“A bunch of deer on the side of the road, I just tensed up and they all took off except for one. Jumped toward the windshield and hit the side of the car,” Pressley said.

Pressley called his insurance company, Geico, but said he didn’t get good news.

“She said nothing, no I’m not doing anything for you,” Pressley said.

The insurance company said they couldn’t help, despite Pressley having comprehensive and collision insurance on the car.

“They were just saying they already paid me $3,500 and they should’ve totaled it and that the key word, should’ve, they didn’t total it,” he said.

Pressley said Geico brought up a claim that dates back to 2015. It was then his 2005 Honda Civic was damaged by a hail storm. Geico paid him $3,500 on the hail claim which covered the broken windshield and dings due to hail. 


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