Car Insurance Roundup, May 4, 2016

Don’t hold your breath but car insurance ‘will cost a lot less’ –

It is of little immediate respite to thousands of motorists hit by spiralling insurance costs but experts now insist technology will substantially drive down cover costs. 

Study: Poor Credit Will Cost You Double for Car Insurance – Quoted

Americans with poor credit pay twice as much for their car insurance as those with excellent credit, but more than two-thirds of Americans don’t know their true credit scores. We ran the numbers and share what drivers need to know about credit to keep their insurance costs low. 

Woman charged with filing false $16,000 car insurance claim – The Orange County Register

A 40-year-old woman pleaded not guilty Monday to submitting a false insurance claim for a vehicle driven by someone else involved in a traffic collision last year. 

Self-driven cars will change the car insurance industry forever, say Buffet and Gates – Firstpost

Two visionary billionaires, Warren Buffet and Bill Gates, recently said that the rise of self-driven cars would spell the end of the car insurance industry. The two giants appeared recently on Squawk Box on CNBC, wherein they said that they believed that autonomous vehicles would upend car insurers. 

Consumer Wise: Home renters dinged on car insurance

“I don’t think it’s fair,” renter Autumn Yoakum said.  “There’s no difference between me and a homeowner besides a mortgage.” Said renter Karim Maghaaoui: “If you’re a good driver, your insurance should be lower.” The average increase in 10 states surveyed showed renters were charged 7 percent more for their premiums, an average of $112 a year. 

Get New Car Insurance Quotes In May – Find The Best Options In Your Area! |

Drivers can get new May quotes by entering their ZIP codes and then completing an online form. These steps can be completed in just a few minutes. The online form requires a few details about the vehicle and the driving record. This information will be used by brokers to determine coverage prices for each car owner individually. 

John McManus: the great motor insurance price hike mystery

The accepted narrative is pretty simple. It goes as follows. Quinn Insurance headed by Seán Quinn entered the Irish market in the 1990s and started to aggressively drive down prices. The other players in the market all expressed their bafflement at how Quinn could write insurance profitably at such prices, but that did not stop them cutting premiums in response. 

UK insurance industry boss casts doubts over autonomous vehicles | Autocar

Speaking at a conference in London organised by Volvo and the insurance industry’s Thatcham Research, Dalton, the boss of trade body ABI’s car insurance division, questioned whether the vision of driverless cars by 2025 was realistic because so many complex problems are yet to be solved. 

Expensive car owners will rush to buy self-driving cars, says Volvo chief | Business | The Guardian

About one in four owners of premium cars would buy a self-driving vehicle, according to Volvo’s chief executive, who has vowed to make the technology affordable. 

7 Tips for Finding a Reliable Used Car for the Right Price | MONEY

If you want a new car for cheap, the best option is a used one.

Aside from the obvious price benefits, used cars are subject to lower taxes, registration fees and dealer fees.You also can’t slap a fancy adjective like “vintage” on a new car!

As with most purchases, however, used cars have their risks. You may have heard horror stories about “lemons” and how they’re ultimately more expensive than their newer counterparts. You don’t want to break the bank when buying a car, but you don’t want to drive a four-wheeled coffin either. 

Supreme Court grants leave for appeal into €90m Setanta Insurance case –

The move concerns some 1,700 claims, with a value of around €90m, that arose when Setanta Insurance collapsed in 2014. The Court of Appeal had ruled in March that the Motor Insurers’ Bureau of Ireland (MIBI) should cover the cost of the claims. The MIBI pays out in claims when a driver is involved an accident with an uninsured or unidentified driver. Now the Supreme Court has granted leave to the MIBI to appeal the ruling made two months ago in the Court of Appeal that it must meet the cost of the claims. 

Admiral Group plc Can’t Burn Your Portfolio. Has Another Gap Up | Franklin Independent


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