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Stephen : Neveda : I keep on reading that the insurance auto insurance premiums are rising on account of frauds in most of our states like New Jersey, Wiscoinsin and now Michigan auto insurance debate on rates is going on. How do you know an car insurance fraud.

Response : A great question Stephen, let me give you an idea that comparing auto insurance for different states is also a good excericse if you are involved in this field or matter of interest, however the rates which would apply would be the rates of the state where you live. That being said the auto insurance frauds have very much in common in all states.

Insurance fraud costs all of us in the form of higher automobile insurance premiums.It is an offence under the federal Criminal Code for anyone, by deceit, falsehood, or other dishonest act, to defraud or to attempt to defraud an insurance company.

Common types of fraud or attempted auto insurance fraud may include:
1) exagratting the quantum of loss or the repairs of the car
2) lying about the way a loss occurred,
3) filing fraudulent automobile accident or damage claims,
4) including previously existing damage to a vehicle when submitting a claim,
5) withholding information about past accidents, traffic convictions, claims, policy cancellations or non-renewals, other insurance in force, and medical and disability history, and
6) receiving payments for treatments not received.
Most of the time it frauds ocurr when the professionals like the lawyer, doctors and even the mechanics or the appriasals at times cooperate with the clients for monetary benefits.

Auto insurance frauds cost millions of dollars and these cost are passed on the the customers in the form of auto insurance premium hikes. There are certain regulations and laws to prevent auto insurance frauds or any insurance fraud and these are :
If you are caught committing or attempting to commit insurance fraud if you :
• Your claim will be denied.
• Your insurance policy may be cancelled outright.
• You may pay higher premiums in the future.
• You may be denied insurance in the future.
• More importantly, the offence is punishable, on conviction, by a maximum of 10 years’ imprisonment for cases involving an amount over $5,000 or otherwise a maximum of 2 years’ imprisonment.

Thanks.
Kamlesh

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Compare car insurance quote revealed

Our country is passing through a recession and at this time the focus of each one of us is to save some money or cut our expenses as much as possible. We over –look the obvious recurring expenses and Auto insurance is a major expense which is a must. Compare Car insurance quotes for free online – an offer only and unique for USA. You can easily save some money on your auto insurance premium without changing your coverage.

This is an on-line offer given by some of the best insurance companies. The auto insurance quote can be obtained at your suitable time, in the comfort of your own home. You need not spend endless hours hanging on the phone and talking to someone who is slow to understand what your purpose of query is. I know it can be really frustrating since I have had the same experience a number of times, trying to get hold of someone. What is more frustrating is hearing the response, “this was not the correct number for this enquiry – please dial 1-800-   …!” Yes, you can get this quote on your own without any hassles.

Automobile insurance covered about 175 million automobiles in the United States in 2004 and a vast number of companies over 161large insurance companies as per Wikepidea and so the options are very high. Comparing auto insurance is becoming a routine for most of us, since we are becoming smart customers and know that the insurance companies do change their auto insurance rates from time to time. The coverage’s offered by each of the insurance also differ and they would change the discounts applicable as per their underwriting philosophy or depending on the underwriting results. It is always reliable to check out the insurance rates online and than decide on the insurer. Information on the financial status of the company can also be found online, before you decide the insurer for your car insurance.

Today, the internet has made things very easy for us. It has brought about the possibility of having all the information at our finger tips. The internet has become very reliable and powerful source of information. Getting a car insurance quote is very easy, if one knows how to key in a few things. Within a matter of minutes you will get the quotes, with no hassles and that also over 5-6 options to compare from.

Even if you save $25/- per month you can save $300/- per year enough to have the extra frills like a nice dress or a gift for someone you care for, at no cost just using your own insightful thinking and skills of being an informed buyer. It’s a good way of saving your cash in the recession. Yes you can pass on the ideas to your friends and they will know what a smart person you are. Small things would make a huge difference. There is nothing to loose and lots to gain. Check out free low auto insurance quotes for yourself, make a difference!

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Taylor Swift : If you’re in an accident and the other driver is uninsured motorist  or underinsured motorist , will you be covered? Do you think I should buy this coverage for auto insurance and will the auto insurance rate increase?

Response : If you have bought the uninsured motorist or underinsured motorist coverage you will be covered for this. Let me explain to you what an uninsured motorist or underinsured motorist coverage under car insurance means.

Uninsured or underinsured motorist coverage can pay for injuries to you and your passengers, and in some locations damage to your property, when there is an accident and the other driver is both legally responsible for the accident and considered “uninsured” or “underinsured.”

An uninsured driver is someone who did not have any insurance, had insurance that did not meet state-mandated minimum liability requirements, or whose insurance company denied their claim or was not financially able to pay it. A hit-and-run driver also counts as uninsured as it relates to bodily injury (UMBI).

An underinsured driver is someone who had insurance that met minimum legal requirements, but did not have payment limits high enough to pay for the damage caused by the accident. In these situations, UM or UIM can pay you for your damages. It is important to note that uninsured and underinsured motorist coverages are separate, although in many states they can or must be purchased together.

At this time, I think it is most advisable to go for an auto insurance policy which covers you for uninsured motorist and also underinsured motorist.  The reason for this is because of the present economical scenerio most drivers are cutting on their auto insurance limits to get low auto insurance premium and reduce their expense. Some of them are in fact not buying insurance at all. . As per the Insurance Information Institute one driver out of every seven in the US is believed to have no automobile insurance. This would mean that 14% of the drivers are uninsured and only 86% drivers are insured. As per the Insurance Information Institute one driver out of every seven in the US is believed to have no automobile insurance. This would mean that 14% of the drivers are uninsured and only 86% drivers are insured. Thus those who have insurance will have to bear the brunt and pay higher premiums or make sure that they are properly insured and have all the apprioprate car insurance coverage and limits.

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Stephen (North Dakota): I would like to compare auto insurance quote online but am worried if it would affect my credit score? This is because I have heard that insurance companies check your credit worthiness before giving insurance. Would I not be insured if I claim bankruptcy?

Response: Stephen, I would advice you to compare auto insurance quote online since if you compare your auto insurance quote online than your credit score for auto insurance rating would certainly not be affected. This is because the insurance companies would just process the data online and give you a quote without verifying your credit score. Than once you apply for insurance they would check your credit score. Secondly this is a soft hit to your credit and hence will not affect your credit score.

The connection between a driver’s safety record and credit rating is not readily apparent to most. Many consumers feel that insurance companies are intrusive when they request such information on an automobile insurance application. Many legislators, insurance commissioners, and consumer rights advocates agree, and have questioned the practice in recent years. Still, insurance companies explain that credit information is needed to make a complete risk analysis when evaluating an insurance application.

If you have filled bankruptcy than your auto insurance premium would be very high. At times some personal lines insurer might decline your risk.  Recently in the revisios of auto insurance in Ontario it is proposed that the credit rating should not affect the insurance rate and this parameter should not be a ground for denying car insurance coverage.

 It seems that there is a connection between credit risk and safety risk. Some insurance company statistics show that drivers with derogatory credit, historically file more accident claims than drivers without derogatory credit. Insurers reason that a consumer who is careful with one aspect of their life (e.g., financial affairs) is also likely to be careful with other aspects of their life (e.g., driving habits). Credit information is also needed to determine whether an applicant is likely to pay premiums in a timely fashion.

As per the insurance companies they like to review the credit scrore since this is a right measure for the nature of responsiblity of a person. If he has a good score it would mean that he is likely to be responsible on the road also. This would decrease the probability of loss to a great extent.

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Kentucky Car Insurance.

David: I live in Kentucky and would like to know the basic things for car insurance for Kentucky.

Response: This is a very broad question and so will touch olnly on the basics. Let me know your specific question in relation to car insurance it you have one. Here is a tip I want you to keep in mind : Compare auto insurance quote and know the rules and regulations of your state alongwith reviewing your car insurance coverage at all times.

What is Kentucky car insurance?

Kentucky car insurance protects you from financial loss in the event of a car accident.

Essentially, your Kentucky car insurance policy acts as a contract between you and your insurer which states that in exchange for paying your premium, the insurer will pay for any losses or damages resulting from a car accident. Also remember that your car insurance rates depend upon the vehicle and the chances of car theft. For more information on theft of car and car insurance.

Can I drive without Kentucky car insurance?

No!

The State of Kentucky requires all motorists to carry liability coverage in the amounts of 25/50/10. In other words, you must be insured for the following amounts:

  • $25,000 total for bodily injury per person
  • $50,000 total for bodily injury coverage per accident
  • $10,000 total for property damage per accident
  • The penalties for driving without Kentucky car insurance are rather severe. If you are caught driving without Kentucky car insurance, you could face fines between $500 and $1000 as well as 90 days in jail.

    The repercussions of driving without Kentucky car insurance may haunt you long after your legal obligations are met—you will be considered a high risk driver and therefore have difficulty finding affordable Kentucky car insurance.

    What if I can’t obtain Kentucky car insurance in the normal market?

    If you have been refused Kentucky car insurance in the last 60 days – and can provide proof of that refusal—you may be eligible for the Kentucky Automobile Insurance Plan, or KAIP.

    According to the Kentucky Department of Insurance, KAIP can be purchased through regular Kentucky car insurance agents, or through a broker. Due to the expense of KAIP coverage, you will want to continue shopping for Kentucky car insurance in the normal market. You may cancel your KAIP coverage if you find more affordable Kentucky car insurance—any remaining funds will be prorated and returned to you.

    Under what circumstances can my Kentucky car insurance cancel my policy?

    The Kentucky Department of Insurance reports that your policy may only be cancelled if:

  • You have neglected to pay your premium (following a two-week notice).
  • Your driver’s license is suspended or revoked (following a 20-day notice).
  • You have committed fraud against your insurance company or falsified information.
  • Can my Kentucky car insurance company choose not to renew my policy?

    Yes.

    Your company may choose not to renew your policy on account of claim frequency or traffic violations.

    However, your company or agent cannot deny you renewal because of your age, your credit history or a disability not affecting mechanically assisted driving.

    If you feel your policy was cancelled or non-renewed in error, you are encouraged to contact the Commissioner or Insurance within seven days of cancellation or non-renewal.

    What if I still have questions?

    For more information on KAIP and Kentucky car insurance, contact the Kentucky Department of Insurance at (800) 595-6053.

    Your questions and querries are alwyas welcomed.

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