During the first nine months of 2014, the Georgia Department of Insurance announced that they received more than $4.7 million from auto insurance companies. These are the direct results of the mediation efforts of the department. Complaints Given Serious Consideration Since January 2014, the Consumer Services Division has answered over 6,000 complaints and assisted consumers [...]
In almost every state, including Georgia, lawmakers have made car insurance mandatory. Those caught without insurance risk losing their driver's license and may have issues keeping their job. According to a report from the Consumer Federation of America, a low-income driver has a difficult time receiving affordable insurance, even with a clean driving record. Auto [...]
Most parents cannot wait until the day their teen acquires his or her driver's license because it relieves them from dropping their kids off and picking them up. The older the teen becomes, the later the hours that they stay out, which means the later the parents have to stay awake. According to a report [...]
Insurance fraud refers to an intentional act performed to attain payment from auto insurance companies. It is estimated that insurance fraud costs companies an annual $80 billion. Companies have a difficult time detecting fraud due to the surreptitious nature of fraud. This crime drives up the cost for all consumers in the industry. Con artists [...]
According to the International Organization for Road Accident Prevention, errors in human judgment account for 90 percent of car accidents. The collective failure rakes in $157 billion in car insurance premiums every year. However, if a self-driving car eliminated the driver's mistakes, the auto insurance industry would change. RAND Corp did a recent study that [...]
According to a UBI consumer survey, American drivers have grown comfortable using usage-based auto insurance (UBI) programs. UBI programs allow auto insurance companies to monitor drivers in exchange for discounts on their premiums. Towers Watson conducted the survey and found that drivers with a UBI policy nearly doubled in 17 months. It sat at 4.5 [...]
With the increasing costs of auto insurance, everyone is looking for methods to save money on car insurance. For 34 states, seniors can take a class to receive a driver-safe discount. Seniors 55 and older are eligible for the discount. Depending on the state, you receive a 10 percent discount or higher for receiving a [...]
After retirees are no longer responsible for the well being of a family, many drop their insurance premiums. However, is this a smart choice? For some cases, you may still want to hang onto your policy. Life insurance was designed to prevent your children and spouse from poverty if you died, and it becomes less [...]
Customers who are loyal to their car insurance company are often disappointed with raised premiums. According to NerdWallet, a data-driven, consumer finance website, US drivers overpay for auto insurance by as much as $368 per year. Research from NerdWallet shows that consumers can save as much as 32 percent from comparison shopping. Why People Don't [...]
In Michigan, two insurance companies started a bizarre argument that could soon impact the rest of the nation. Lawyers from State Farm Mutual Auto Insurance and Farm Bureau Insurance stirred public outrage. This due to refusing to pay compensation for a paralyzed man who was hit by an SUV while crossing the street. The two [...]
