Auto Insurance Law

Moving brings lots of new challenges, particularly if you’re moving to a new state. If you’re new to the state of New York, you need to know all the ins and outs on important laws and regulations, including finding out all about a New York car insurance quote. You might get a little sticker shock moving to New York as their rates are a bit higher than the national average. But, there are always ways to save money on your New York car insurance.

New York has a “no fault” law, which means that, in general, each party’s insurance pays for their injury claims in the event of an accident, regardless of who caused the accident. For this reason, all drivers in New York must carry Personal Injury Insurance (PIP) in the amount of at least $50,000. Your PIP insurance will cover medical expenses, loss of wages, loss of services, and offers a death benefit.

In addition, New York drivers must also carry liability insurance to pay for property damage and bodily injury to the other party in the event that you are at fault in an accident. The minimum on liability property damage insurance is $10,000. The minimum on bodily injury is $25,000 per person or $50,000 per accident. In addition, New York car insurance laws require that you carry a minimum $25,000/$50,000 in uninsured motorist coverage, too.

Overall, New York car insurance typically costs the average driver about $400 per year more than the national average. This is due to the combination of higher limits being required by law and the fact that drivers are required to carry liability insurance to pay for the other party along with PIP insurance to pay for their own medical expenses.

In addition to carrying the New York car insurance required by law, you may also want to consider adding other coverage, such as collision insurance. Though your PIP insurance covers your injuries in an accident, without collision, you’ll have no insurance coverage for your vehicle in the event of an accident that you cause. Collision will cover your vehicle’s repair or replacement. In addition many drivers consider adding comprehensive insurance. Comprehensive insurance covers your vehicle for damage caused by fire, natural elements, vandalism and theft. You may also want to add items such as rental car coverage and roadside assistance to your policy.

Because rates on a New York car insurance quote are fairly high, it’s very important to shop around so that you can ensure the best deal. Take the time to gather several quotes before you choose an insurance policy. Asking each company to quote the exact same coverage will help you compare your quotes more easily.

Once you’ve gathered your quotes, be certain to ask around about the company’s customer service before you make your final decision. Great rates are always enticing, but it’s just as important to have a car insurance company that will be responsive when you have to file a claim.

By: Barry H Brenner

The Texas Department of Insurance (TDI) announced that as early as Spring of 2010, non-compliance notices will be mailed to owners of uninsured vehicles. The notice will provide a warning for those driving uninsured – the situation will need to be corrected immediately. The notice will list the potential fines for driving uninsured and advise repeat offenders they face suspension of driving privileges.

The non-compliance notices are going out as part of the TexasSure Uninsured Motorists Verification program passed by the 79th Legislature. The law requires insurers to submit their active policyholder information to the state, who in turn matches the submitted Vehicle Identification Numbers (VIN) with the VINs contained in the registered vehicle database at TxDMV. Of the VIN numbers submitted by insurers, 99 percent were successfully matched to the vehicle registration database.

One in Four are Uninsured

While TDI will not release specific statistics, it is estimated at a minimum, one out of every four vehicles on Texas roads is currently not insured. In June of 2008, access to the TexasSure program was provided to DPS officers and all 254 county tax offices. The program was an immediate hit. “Motorists have overwhelmingly embraced the TexasSure database, especially given its 99 percent success rate of matching vehicles to their insurance coverage,” said Rebecca Davio, TxDMV’s Director of Vehicle Titles and Registration. “Its proving to be a tremendous resource for identifying those without insurance.” Notices are currently being mailed to the one percent of policyholders whose insurer reported coverage, yet their VIN number was unable to be matched to a current vehicle registration.

Ongoing Monitoring of Uninsured Vehicles

“Texas insurance agents and citizens alike have long awaited this time.” comments Christine Huddleston, President of the Alliance of Insurance Agents of Texas (AIAT). The AIAT played a significant role in the passage and implementation of the TexasSure program.

Law enforcement throughout our state have praised the system and appreciate the ability to verify whether a vehicle is insured by just running their license plate number. However, it has always been our top priority to prevent the uninsured from getting behind the wheel in the first place. These notices will serve as a proactive approach in reducing the number of uninsured drivers and we commend the TDI for all of their efforts in getting us to this point.

TDI advised auto insurers the non-compliance notices will begin in Spring of 2010. All registered vehicles will be tracked on an ongoing basis to monitor their insured status. After a vehicle is listed as uninsured for nine (9) consecutive weeks, a letter of non-compliance will be mailed to the registered owner.

Insurance Agents, Are You Ready to Handle the New Business?

“Agents need to be prepared. It is going to be the 1980s all over again.” says Mary Ann Hooten, a Territory Manager for GAINSCO Auto Insurance. Mary Ann worked for an insurance agency in 1982 when the mandatory insurance law initially passed in Texas. “Our phones rang off the hook every night until midnight. We had to turn the phones off at night, even though they were ringing, because we simply could not handle any more business.”

Insurance Technologies Corporation offers four key software packages to insurance agents to generate leads, decrease time quoting and binding, and streamline customer service processes. Now is the time to address your automation needs so you are prepared for the New Year.

By: David Burelsmith

It helps to have a few things ready when shopping for car insurance in Massachusetts, including your current policy information. Also you should know what the minimum requirements are for Massachusetts auto insurance. Here is some helpful information.

Massachusetts requires car insurance by law and is a state with a no-fault system, meaning you need to have Personal Injury Protection which will pay for your injury claims — up to a limit– no matter who’s at fault.

Massachusetts’ compulsory — or required — coverages are (keep in mind these are minimums and you may want higher limits for better financial protection):

Personal Injury Protection, or PIP, which pays necessary medical costs if you are injured in an accident. Minimum coverage of $8,000.

Bodily Injury — $20,000 per person who is hurt or killed in an accident, and $40,000 per accident if several people are hurt or killed.

Bodily Injury Caused By an Uninsured Auto — $20,000 per person who is hurt or killed in an accident, and $40,000 per accident if several people are hurt or killed.

Property Damage Liability — $5,000 for property damage caused by you in an accident.

Car insurance rates in Massachusetts are strictly regulated by the state. However, Massachusetts Insurance Commissioner Nonnie Burnes is currently trying to pass a plan to deregulate the insurance industry in her state. This would bring in more car insurance companies and more competition which could bring down rates and costs to car owners.

However, you should always do some comparison shopping when looking for car insurance; you may be able to save on overall costs and you’ll certainly get a better idea of how each company’s service is going to be. Try to get at least three different comparison quotes. To get the most accurate comparison, make sure you provide the same information about deductibles and coverage limits to each company.

By: Justin Scott