Tag Archives: Automotive Research

New Research: The Insurance Industry Foots A GBP1.9 Billion Fraud Bill

•As the insurance industry shoulders a GBP1.9 billion fraudulent claim bill and investigators report a 44% increase in fake motor insurance claims, car insurance stealth charges are also on the up

•Compulsory excess payments have been increased by 32% in the last year from GBP129
to GBP170 – 85% of drivers would pay this charge in the event of an accident

•Drivers with a compulsory excess above GBP500 has increased almost tenfold from just 0.3% to 2.7% – 1.55% of these could pay between GBP1,000 to GBP3,000 to claim

•With over 4.4 million accidents resulting in a claim each year, this GBP41excess increase will make the insurance industry GBP154 million more in the next 12 months

•The number of drivers with a compulsory excess on their policy has jumped by 4% from 81% and currently impacts 21.5 million drivers

•On top of this, the average policy price has increased by 10% from GBP478.70 to GBP526.42 for fully comprehensive cover and almost 13% for third party

As the insurance industry foots a GBP1.9 billion fraud bill and recent reports reveal a 44% increase in false claims, new research from uSwitch.com shows that providers are strategically recouping this money from consumers by hiking compulsory excess charges by almost a third (32%) in the last year. In addition, the number of drivers being hit with a compulsory excess fee of between GBP1,000 and GBP3,000 has increased almost tenfold from just 0.3% to 2.7%. Across the country, this means that in the event of an accident, drivers will now have have to pay their insurer an average of GBP170, a fee which has gone up by GBP41 from GBP129 since August 2008.

With over one in five drivers (4.4 million) claiming on their car insurance each year, insurance providers will now be making an additional GBP154 million more from compulsory excess hikes in the next 12 months. This GBP170 compulsory excess charge combined with the average voluntary excess payment of GBP197 can make claiming for an accident a costly business. In fact, any damage that costs less than GBP367 to repair really isn’t worth making a claim.

Via EPR Network
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Protect Your Taxi Company with Taxi Insurance

The main source of transportation in big cities such as New York City or Chicago, taxis offer many people the convenience of not having to deal with the responsibilities of owning a car. For a taxi company to thrive, however, it must possess a quality taxi insurance policy to protect not only their employees, but the customers as well. A recently published article on InsuranceAgents.com explains how vital taxi insurance is to a company. To compare insurance rates, fill out this form now.

“Not only are taxis a cheap alternative to owning a car, they also act as our own designated driver after a long night of over-age drinking,” the article, Taxi Insurance: Protection for Your Yellow Vehicle, reveals. “At the end of the day, however, a taxi is first and foremost a business, and any legitimate taxi company needs taxi insurance to protect their business. Operating in an industry that results in over two million passengers injured each year, taxi insurance provides taxis with the assurance that they will be protected in case an unfortunate incident occurs.”

Unlike standard auto insurance, taxi insurance provides a number of coverage options designed particularly for taxis. This includes liability coverage that protects the cab company, the driver, and the company’s assets. It also includes comprehensive coverage against vandalism, theft, fire and other damages caused by an accident.

There are certain requirements a taxi must first meet before even being considered for coverage. On top of functioning as fare-based, taxi drivers must also be between the age of 25 and 65, have a valid driver’s license for more than two years in the United States and possess a clean criminal record.

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Take Action Against Car Title Fraud

Most people were raised with the value of treating others the way they would like to be treated but unfortunately in this cutthroat society we live in these days, that value gets lost and it becomes every man or woman for themselves. Car title fraud is a prime example of people taking advantage of people for an easy profit. However, car title fraud can be avoided by simply performing a vehicle title history check, according to an article recently published on InsuranceAgents.com.

Knowing why car title fraud exists and how it works is an important stop in prevention. “The main reason car title fraud exists is because states lack conformity on what constitutes a ‘salvaged car,’” states the InsuranceAgents.com article titled, ‘Car Title Fraud: An Introduction‘. “There has been a push for the federal government to step in and mandate what is considered a ‘salvaged car’ so there isn’t a discrepancy between states.”

But until the feds step up to the plate, here are a few simple tasks that be accomplished by the purchaser to avoid car title fraud.

-Perform a vehicle title history check online by running the vehicle identification number, or VIN, of any vehicle made after 1981. -Take a pick from any of the numerous Web sites designed to perform accurate and timely VIN checks.

-Purchase car title insurance. This is relatively low cost and can save bundles if the buyer runs into a fraudulent title.

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Breaks From Driving Fuel Accident Rates

New research released by Lloyds TSB Insurance has revealed the serious impact of driving breaks on accident rates, as nearly 100,000 crashes caused last year were by drivers taking to the wheel after a long break from driving.

Lloyds TSB Insurance commissioned road safety experts to test the roadworthiness of licensed motorists who had not driven for six months or more. The results revealed that these drivers made four times as many serious safety errors as regular drivers, worryingly increasing their crash-risk by a quarter.

The insurer estimates that 98,000 accidents last year can be directly attributed to lack of driving practice, causing over £200 million worth of damage. Yet public awareness of the risks is low, with half a million ‘rusty drivers’ planning to take to the road in the next 12 months.

Driver ability in all key areas is impaired, according to the findings, with serious deficiencies in observation (86 per cent), speeding discipline (27 per cent), clutch control (33 per cent) and steering (13 per cent).

Crash risk is also heightened by the length of the driving ‘break’, with those taking to the wheel after a year nearly twice as likely to have an accident.

Despite the experiment revealing no marked difference in performance between the sexes, further research suggests women are more likely to take extended driving breaks than men (58 per cent vs. 42 per cent).

Commenting on the research, Karen McCarthy of Lloyds TSB Insurance, said:

“There is no substitute for practice and anyone thinking of getting behind the wheel after a long break needs to think really carefully about the risks. A simple refresher lesson or practice in a low traffic area can make a huge difference to your confidence and road awareness.”

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Truck Insurance Quotes For That Trusty Pick-Up

Auto insurance should be as vehicle-specific as possible. Just like luxury automobiles require premium auto insurance, pick-up trucks require a specific policy that offers extensive coverage as well as affordable rates. According to an article recently published on InsuranceAgents.com, truck insurance can be expensive if the consumer doesn’t know what steps to take before purchasing a policy.

“With its sturdy frame, blue collar-esque design, and pension for being practical instead of flashy, you might think insuring your pick-up truck will be inexpensive,” the article titled, ‘Truck Insurance: Fill The Bed Of Your Pick-Up With Savings’. “[But] auto insurance—and more specifically truck insurance—is determined by a number of different factors that you should be aware of if you want to find the lowest possible quotes.”

The factors that insurance companies look at in determining auto insurance quotes for trucks include the age, make, model, and anti-theft devices of the truck. Those interested in the most affordable truck insurance should compare quotes before purchasing their truck since make and model do factor into premiums.

Go online to InsuranceAgents.com to get in touch with an auto insurance agents and learn more about saving on truck insurance today.

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Breaking Free from SR-22 Insurance

If you’re a driver who has had a few too many run-ins with the law as of late, prepare to be filing for SR-22 insurance in the near future. Unlike other insurance policies, however, this insurance won’t provide you with protection. According to a recently published article on InsuranceAgents.com, SR-22 insurance is not something drivers want to possess.

“Like other types of auto insurance, SR-22 insurance is basically a document that proves you have financial responsibility,” the article, Getting Acquainted With SR-22 Insurance, reports. “If you are cited by law enforcement for driving without insurance then you will be required to carry proof of SR-22 insurance for roughly three years just as if you were on probation.”

Although proof of financial responsibility can be obtained through most insurance providers, it is a strenuous process. Drivers are simply better off practicing safe driving because there are several incidents that can cause you to file for SR-22 insurance. They are:

1. Committing a DWI, DUI or other serious violations
2. Having your license suspended or revoked
3. Being involved in an at-fault accident without insurance
4. Having a tendency to repeat traffic violations

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Locking Down Suzuki Motorcycle Insurance

Suzuki offers a wide range of vehicles but is perhaps best known for their slick, sporty, super fast motorcycles. If you are contemplating satisfying your inner speed freak with a Suzuki motorcycle, be sure you effectively protect it with Suzuki insurance. You can find the most competitive rate possible for your new ride by going online to Vehicle Insurance Quotes Today Equals Auto Insurance Savings compare multiple auto insurance quotes.

Typically, insurance providers will charge higher rates for vehicles that are deemed dangerous, high-risk, or expensive. Suzuki motorcycles fall into this category and thus usually require extensive Suzuki insurance policies that come with pricey premiums. It is absolutely necessary to protect your Suzuki with an all-encompassing policy regardless of the price. However, according to an article recently published on InsuranceAgents.com, you can secure the most affordable Suzuki insurance possible by taking a few simple precautions.

According to the article, the first and most important step is talking to several auto insurance agents about different Suzuki insurance policies. Doing this will allow you to compare and contrast between different policies to find the cheapest one out there and may also save you money on your vehicle by leading you toward a different model that is cheaper to insure.

Suzuki insurance isn’t going to be cheap but it can be affordable if you know the steps to take. Insurers will always consider vehicles like Suzuki motorcycles to be high risk to insure but you can find yourself the best possible rate for your Suzuki insurance by going to InsuranceAgents.com today to compare insurance quotes.

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Suspended Licenses Result In High Car Insurance Quotes

Just because you made a few mistakes that resulted in your license getting suspended doesn’t mean you’re cursed to receive high car insurance quotes for the rest of your life. There are steps you can take so you can start fresh with a clean driving record and low auto insurance premiums.

According to an article recently published on InsuranceAgents.com, committing too many violations on the road could result in a suspended license. “As if it weren’t daunting enough to lose your key to open and unrestricted transportation, a suspended license may cause your auto insurance premium to skyrocket.”

Once your license is suspended you should really invest yourself in proving to your insurance company that you are taking your driving seriously. You can do this by taking a defensive driving course, paying all fees you owe to the DMV, and even applying for a temporary license.

The InsuranceAgents.com article states, “To get a temporary permit/license, the suspended-licensed driver will have to pay their state’s reinstatement fee, fulfill responsibility criteria and successfully complete a written test. To keep this privilege, the driver is not allowed to make even one more moving violation.”

So if you have a suspended license or are interested in learning more about managing life with a suspended license, you should visit InsuranceAgents.com. There you will find a plethora of insurance agents willing to work with you and your situation, no matter what it is.

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2p Fuel Duty Increase Will Cost Drivers £1 Billion Extra in the Next Year

As petrol prices spike at a six month high of 104.7p per litre, Brits face the prospect of another 2p per litre rise in fuel duty on 1 September. New analysis from uSwitch.com, the independent price comparison and switching service, reveals that consumers will be forced to shell out an extra £29 per year as a result of the impending price hike – equating to an additional £1.16 for every tank of petrol they buy. In total, this will cost UK drivers over £36 million in the next month alone as the cost of filling the average tank hits over £62. This is a 26% (£12.99) increase since 2007, when a full tank cost a more modest £49.22 (87.9p per litre).

Adding insult to injury for motorists, industry experts suggest that petrol prices are in fact set to soar by up to 3p a litre at the height of the holiday season this month, due to the rising prices of oil and an 8% rise in the wholesale cost of fuel. Coupled with the double whammy of the 2p fuel duty increase, consumers could be subject to a 5p a litre rise in total. Further knocks to drivers include government plans to end the temporary cut in VAT on January 1, 2010 – just months after the fuel duty increase comes into force.

However, the research suggests that British motorists are not simply prepared to sit back and watch their petrol bills rocket! One in three drivers (33%) are now planning to ditch their larger gas guzzlers and in favour of a smaller, more fuel efficient vehicle, with over a third (36%) citing fuel efficiency as the most important consideration when buying a new vehicle.

“It is not surprising that, for drivers looking to buy a new or second-hand vehicle, size increasingly matters. Flash Harry’s are becoming well and truly flushed, with more and more motorists prioritising fuel efficiency over ‘forecourt flashiness’ by downsizing their cars to pre-empt the increasing expense of filling up the tank. Getting from A to B is more about MPG than ever before, and, with further petrol price increases in the offing, drivers are right to think about the total running costs of a vehicle before making a final decision on the forecourt.”

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While Seeking Mitsubishi Insurance May Be A Strenuous Action, There Are Ways To Simplify The Process

While seeking Mitsubishi insurance may be a strenuous action, there are ways to simplify the process. Many drivers are unaware of the factors that go into determining insurance quotes for their vehicles, but a recently published article on InsuranceAgents.com reveals the ease that goes into purchasing Mitsubishi insurance.

“In order to give yourself the best possible chance at finding the most competitive and adequate Mitsubishi insurance on the market, do yourself a favor and go online to compare auto insurance quotes from multiple auto insurance agents,” the article, Mitsubishi Insurance High For Some Models, states. “To further secure yourself the appropriate type and amount of Mitsubishi insurance, you must understand what factors go into determining the quotes you’re receiving.”

The article suggests, however, that there are other ways you have to prepare. “No matter what brand of car you purchase, your luck in finding extensive and convenient auto insurance is determined by the specific model you’ve chosen. Mitsubishi insurance is no exception to this rule.”

There are also several factors that go into determining Auto insurance rates. The list, referencing the Highway Loss Data Institute, explains that the statistical rankings of the make and model you purchased in the areas of cost of injury, collision, and theft claims are all important factors.

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Auto Insurance Rates Rose 3 Percent Last Year. In 2009, They’re Expected To Rise Another 4 Percent, At Least

It may seem impossible to believe, but auto insurance can still be affordable. Even though rates are rising in most areas of the country, drivers don’t have to let their insurance policies lapse in order to save money, according to a recently published article on InsuranceAgents.com.

Auto Insurance Rates Rose

Auto insurance rates rose 3 percent last year. In 2009, they’re expected to rise another 4 percent, at least. In some areas (depending on the carrier), they’re expected to rise even more. And with many U.S. households suffering from grossly reduced incomes, many drivers may be led to believe that affordable auto insurance is a myth. But it may just require a little digging up to find.

According to the InsuranceAgents.com article, “Several Tips to Keep Auto Insurance Premiums Low as Rates Rise,” drivers who want to keep their auto insurance coverage need to begin their search by figuring out what auto insurance quotes are in their price range.

“The first step in beginning their search for low auto insurance quotes is to figure out exactly how much they are willing to spend on auto insurance. In order to do this, they will have to sit down and budget their expenses,” according to the article.

This means having to calculate finances, like one’s income, savings, expenditures, bills and debts, and miscellaneous expenses.

When trying to save money, the last thing one should do is drop their insurance policies to simply save money in the short term. This puts the former policyholders at risk for a huge financial loss, and too often results in them losing thousands of dollars in even minor events (like a fender bender in a car accident, for example). Not to mention, driving without auto insurance is against the law, in most states.

InsuranceAgents.com suggests other ways to save money on auto insurance, including raising the policy’s deductible, asking for discounts, driving less, practicing safe driving, maintaining good credit, searching for auto insurance quotes regularly, and also, figuring out the right amount of coverage (under-insuring and over-insuring can both cost you too much money).

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GM And Chrysler Bankruptcies Bring Worries About Warranties and Auto Insurance

With the recently filed bankruptcies of both GM and Chrysler approved, consumers are flooding social media sites, blogs and advice columns with questions about car warranties and auto insurance. According to research conducted by FreeInsuranceAdvice.com, these questions primarily fall into three categories:

• Will car warranties be honored by the manufacturers and dealers?
• Does the bankruptcy filing impact existing auto insurance policies?
• How will outstanding car loans be affected?

Car warranties will be honored
A majority of the postings were related to whether GM and Chrysler car warranties would be honored. According to an interview in USAToday with Steve Harris, General Motors’ vice president of global communications, the answer is yes. In addition to the company’s backing, the government’s Warranty Commitment Plan was announced in March to reassure buyers of General Motors and Chrysler vehicles that warranty claims would be honored during the companies’ restructurings.

Auto insurance policies need to be monitored
Most people have insurance directly through major insurance companies and those policies are not affected by the bankruptcies. The financial services groups of both GM (GMAC Financial Services) and Chrysler (Chrysler Financial) are separate companies with strong financial records, despite their parent companies’ problems. It is expected that they will be affected negatively only to a small degree and for a short period of time as the companies emerge from bankruptcy. However, consumers who do have their insurance carried by these financial service groups should check with their insurance agents to ensure that coverage is adequate and continuous along with getting the best car insurance advice possible.

“Consumers are rightfully nervous but the sky is not falling,” says Michael Crosson, Publisher of FreeInsuranceAdvice.com. “These two major car manufacturers should emerge stronger, leaner and certainly more focused on creating better products. This may even include better and longer warranties and better insurance offerings. At FreeInsuranceAdvice.com, our goal is to provide the most up-to-date information as the market changes.”

Car loans unchanged
Other consumers were concerned about being credited for payments made to the financial services groups of the bankrupt companies. Consumers who have loans should continue to make their payments, according to federal authorities supervising the bankruptcies. However, for these finance companies the future is far from rosy. “Clearly, auto finance delinquencies are increasing,” says Bradley Rubin, automotive sector specialist with BNP Paribas in an interview in TheStreet.com. “We think there will be a significant increase in auto finance delinquencies this year.”

FreeInsuranceAdvice.com is a consumer information service center that provides a wide range of articles and helpful resources on auto, home, health and life insurance advice. The website was launched in March of 2009 and is one of the largest repositories of teen car insurance information available online. The company is headquartered in Gold River, CA.

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Welcome to EPR Automotive News

EPR Automotive News is a new blog, part of EPR Network, that is going to be focused on and will be covering the automotive news and stories from press releases published on EPR Network.

EPR Network (EPR stands for express press release) is one of the nation’s largest press release distribution networks on Web. The EPR’s nationwide network includes 12 State based PR sites, one major PR forum and a number of industry specific PR blogs and what started as a hobby on Internet years ago turned out to be a rapidly growing business today. EPR Network is also known as one of the most trusted (human optimized, published, edited and monitored, spam/scam/low quality PR content free) PR sites on the web with more than 10,000 company and individual press releases distributed per month. EPR Network is putting your press releases on top of all major search engines’ results and is reaching thousands of individuals, companies, PR specialists, media professionals, bloggers and journalists every day.

EPR Network has thousands of clients around the world including global 500 corporations like Hilton Hotels, Barclays Bank, AXA Insurance, Tesco UK, eBay/Skype, Emirates, just to name a few. The network’s PR web sites are currently reaching from 150,000 to sometimes 500,000 unique visitors per month while our viral reach could possibly go to as much as 1M people per month through our presence across various social media sites. EPR Network was established in 2004 and as of May 2008 it had more than 800,000 press releases (pages) published on its network.

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