Auto Insurance


No Fault Insurance Reform for Michigan

April 4, 2012

Could the no-fault auto insurance reform lower car insurer loss ratios? According to Fitch Ratings, in the years 2009 and 2010, the loss ratio was 75 percent in no0fault insurance states compared to 63 percent in the years 2006 to 2010. Higher loss ratios indicated that car insurers are paying higher claims in these no-fault states compared to others with Michigan having the highest loss ratio of all the no-fault states in 2011. With no-fault state laws there is a lot of room for potential fraud. Because the law requires no proof of fault, policy holders are reimbursed for their […]

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The China Auto Insurance Boom

March 30, 2012

With a booming Chinese economy, more and more fmailues are growing their wealth and in turn increasing the number of middle class citizens in China. With an increase in middle class fmailes, you start to see an increase in the number of cars on the road. What is interesting is drivers training in China is far different then it is in the US. Most drivers in China, young and old, have only been on the road for the last five years. So you have an entire country of rookie drivers on the road. Because of this, you see an increase […]

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Auto Insurance Premiums and Credit Scores

March 21, 2012

What is fair and what isn’t fair may not always be black and white, it may not always be right, and it may not even make sense at all. When you are shopping around for auto insurance companies, you’re shopping around for the most affordable rate. Do you ever stop to think that your credit score would play a role in the outcome? As far off and unrelated as that may sound, it is the truth. Since a Supreme Court ruling a few years ago, insurance companies are allowed to make decisions of insurance rate premiums by factoring in an […]

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Reviewing Your Insurance Policy

March 20, 2012

In today’s world who isn’t trying to save a dollar. Families are budgeting more, cutting out luxury items, and looking for deals anywhere they can find them. Those are all great ideas and can really help the paycheck go a little farther. To go a step further I suggest a consumer to review all of their loans, credit cards, and even their insurance policies and ask themselves, “Is there a better rate? Am I paying too much? Can I do any better?” Just as a person might go to a bank and talk to a mortgage broker about refinancing their […]

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Auto Insurance & Social Responsibility

March 14, 2012

We have all seen the alcoholic beverage commercials that suggest we “drink responsibly,” along with the stunt devil ads that indicate we should not try this at home. When I think of social responsibility relating to insurance companies, I think of those that reward their customers for being responsible, mainly car insurance companies. For example, the better driver you are for a certain period of time, you are rewarded with a lower premium and other incentives the company may be offering. Those companies show that they not only are about getting business, but they truly care about the well being […]

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Michigan Auto Insurance Coalition Seeks Data On No-Fault Insurance

February 3, 2012

According to the AP, “The Coalition Protecting Auto No-Fault” or CPAN, has filed a lawsuit against Michigan Catastrophic Claims Association (MCCA) to retrieve vital information and statistics to help legislators make decisions that may change the way no-fault insurance is handled in Michigan. At this time House Bill 4936 and Senate Bill 649 are looking at taking away lifetime benefits that are currently available to all Michigan drivers. CPAN hopes this data retrieval will shed some light on what exactly could happen if these changes are made.

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