Category Archives: insurance

Rising Auto Insurance Rates have People Shopping, but Not Necessarily Switching

Increases in Auto Insurance rates by an average of 2.1% nationwide in 2014, following an increase of 2.5% in 2013 have many customers shopping for a new insurer, but few are actually switching insurers. Continue reading

Posted in customer satisfaction, insurance | Tagged , , , | Leave a comment

Telematics Enable Usage Based Insurance and Privacy Risks

A Celant report on insurance developments also includes results of a survey on how receptive customers would be to real time feedback on their driving. How would you like to receive this message while driving: Your current driving style suggests that you have a one in three chance of having a fatal or very serious accident during the next year. Continue reading

Posted in insurance, news analysis | Tagged , , , , , , | Leave a comment

Honda heads list of Most Popular Stolen Vehicles

The Nissan Altima, Ford Fusion, F-Series pickup truck, Toyota Corolla, and Chevrolet Impala headed the list of the most oft stolen 2013 model-year vehicles. Continue reading

Posted in insurance | Tagged , , , , | Leave a comment

Telematics are ‘Driving’ Growth in Usage Based Insurance

So called OBD-II based telematics – aka onboard diagnostics – are rudimentary and controversial but they have the potential to reshape the auto insurance market to reward good or infrequent low-risk drivers while charging other, more risk exposed users to higher fees Continue reading

Posted in insurance, news analysis | Tagged , , , , | 1 Comment

Consumers Will Commit Fraud for Cheaper Car Insurance

However, in the bold new world of snooping, two thirds (64%) of people are comfortable with a telematics type of product that would share information about the events leading to a traffic accident, in order to help determine which driver was at fault. Continue reading

Posted in fools 'n frauds, insurance | Tagged , , , | 1 Comment

Waterlogged Flood Cars – Tide Rising as Titles Falsified

Buyer beware and nowhere does that apply more than used flood cars that have been damaged by water that causes insurmountable problems after the vehicle is returned – often illegally – to service. Nearly two-thirds of these flood damaged cars are on the road in ten states – Texas, New Jersey, Pennsylvania, Kentucky, Louisiana, Illinois, New York, Florida, Mississippi and Virginia. However, as the research shows, crooks are moving flood cars to any state where unfortunately unknowing consumers will buy them. Continue reading

Posted in auto news, fools 'n frauds, insurance | Tagged , , , , , | Leave a comment

Auto Thefts Rise in the Summer Months

Every 44 seconds a motor vehicle is stolen in the United States, according to the National Highway Traffic Safety Administration. NHTSA data also show that only 52% of stolen vehicles are recovered. Continue reading

Posted in auto news, insurance, news analysis, transportation | Tagged , , , , , | Leave a comment

Second Alabama Cop to Serve Time for I-65 Motorist Thefts

A second Alabama police officer has been sentenced to serve time because of his thefts from motorists on I-65. Former Fort Deposit police officer Carlos Tyson Bennett, 37, was sentenced to 37 months in prison, two years of supervised release and ordered to pay $500 in restitution. Bennett stole money from motorists during traffic stops with another ex Fort Deposit cop, Jessie Alan Fuller, on Interstate 65 in 2009. Continue reading

Posted in auto news, customer satisfaction, fools 'n frauds, insurance, litigation, news analysis, people | Tagged , , , , , , , | Leave a comment

U.S. Motorcycle Thefts Decrease to One Every 11 Minutes

The National Insurance Crime Bureau today said that motorcycle thefts were down 6% in 2011 from their 2010 total. This means 46,667 motorcycles reported stolen in 2011 compared with 49,791 in 2010. The theft rate, which sounds low, actually averages to one motorcycle theft every 11 minutes. Continue reading

Posted in customer satisfaction, insurance, litigation, motorcycles, news, news analysis, results, transportation | Tagged , , , , , | Leave a comment

Auto Theft UK Style – $473 Million Unrecovered in 2011 Alone

The latest auto theft numbers in Great Britain are just as grim as in the U.S. In 2011, 65,000 vehicles were taken from their owners in the UK and never recovered for losses of £300 million or $473 million. More than two thirds (71%) of stolen cars disappear, never to be seen again. As they are stripped for either parts or shipped out of the country, according to swiftcover.com. Not surprisingly, more expensive stolen cars are more likely to disappear without a trace. Continue reading

Posted in aftermarket, auto news, fools 'n frauds, insurance, litigation, news analysis, transportation | Tagged , , , , , | Leave a comment

Top Ten Stolen Vehicles for 2011 Revealed by NCIB

The National Insurance Crime Bureau or NICB today released its list of the 10 stolen vehicles in the United States. The top spots were evenly split in 2011 with five occupied by offshore brands and five by U.S. automakers. The most popular stolen vehicles among the Detroit Three bands were Ford, Dodge and Chevrolet pickup trucks each holding one spot with Dodge Caravan and Ford Explorer rounding out the domestic models. Continue reading

Posted in auto news, fools 'n frauds, insurance, results | Tagged , , , , , , , , | Leave a comment

GM Pension Buyout Financial Engineering or Coup?

General Motors announced that it would offer lump-sum buyouts to 42,000 retired salaried employees while 76,000 others would have their pensions transferred to The Prudential Insurance Company of America, which would take over the GM white-collar plan. Continue reading

Posted in auto news, financial results, insurance, news, news analysis, results | Tagged , , , , , , , | Leave a comment

Ford, State Farm Offer Auto Insurance Based on Miles Driven

Ford Motor Company and State Farm Insurance have announced that drivers who allow their Sync equipped vehicle to report actual in use mileage could have their auto insurance premiums reduced by as much as 40%. Continue reading

Posted in auto news, insurance, marketing | Tagged , , , , , , , | Leave a comment

Toyota offers Protection from Lease Wear and Use Charges

Toyota Financial Services and Lexus Financial Services are introducing what is called an Excess Wear & Use (EWU) Protection Plan. The plan limits financial responsibility for items such as dings, dents, scratches, and missing parts or equipment when the lease … Continue reading

Posted in auto news, insurance, marketing | Tagged , , , , , , , | Leave a comment

The Top Stolen Cadillac Escalade Has New Antitheft Devices

Cadillac Escalade is more than 6 times as likely as the average vehicle to be targeted by thieves and has overall theft losses more than 10 times as big, according the Highway Loss Data Institute – HLDI. So little wonder that Cadillac in a release today is touting what it claims are new security enhancements developed to thwart thieves on Escalade models. Continue reading

Posted in aftermarket, auto news, customer satisfaction, insurance, news | Tagged , , , , , , , , , , , | Leave a comment