car insurance

Fla. Lawmakers Take Aim at No-Fault Insurance Problem

Lawmakers and members of the insurance industry have repeatedly called for regulatory changes in states that employ no-fault insurance systems, saying that they are conducive to fraud and abuse and result in higher costs for consumers. In both New York and Florida, state representatives have introduced bills that aim to change aspects of the claims process that will ideally make it harder for residents to exploit the systems.

Drivers in many states may be unfamiliar with no-fault coverage; that’s because Florida is among the small minority of 12 states that use a no-fault system. Most states have liability systems that require drivers to purchase bodily injury liability protection, which pays for other people’s damages that were caused by the policyholder.

But no-fault coverage works differently. Instead of paying for other people’s damages that the policyholder was responsible for, it pays directly to the policyholder for his or her medical bills after an accident, regardless of who was at-fault in the crash.

Florida law has since 1971 required that motorists carry at least $10,000 worth of Personal Injury Protection (PIP), the main form of no-fault insurance that pays for 80 percent of “reasonable” medical expenses and 60 percent of a claimant’s loss of income. Read more…

Info Regarding South Carolina Insurance

The South Carolina laws permit certain motorists to forgo a car insurance policy and register an uninsured motor vehicle. At the time of registration the automobile owner must pay a fee of $550 in order to register an uninsured motor vehicle. The fee is due every year at the time an auto is being registered and is not a set amount that can be increased annually. This fee does not include any type of coverage to the motorist and is paid for the privilege to operate an uninsured automobile on South Carolina’s roadways.

Although this option is available, it is often recommended to purchase automobile policies rather than pay this fee since expenses arising from a traffic accident that is caused to another party would still need to be paid if the driver is found liable; the expenses caused the vehicle owner would also have to be paid by their own means. The $550 fee could be put towards automobile coverage rather than risk driving uncovered and paying for accident related costs out of pocket. Prior to opting to operate cars without policies, motorists may want to take the time to compare South Carolina auto insurance quotes to see if affordable coverage is available. By doing so, a motorist may be able to satisfy the state’s financial responsibility requirements and also have compensation in place should they be involved in a traffic collision.

Choosing to Buy an SC Insurance Policy Read more…

State Licensing Debates Have Car Insurance Implications

State laws allowing non-citizens access to driving privileges and auto insurance coverage in Utah and New Mexico have come under heavy fire in the first months of the new legislative session, but it looks like they will be preserved after bills that would have changed their key parts have been heavily amended.

The bills in both states have received numerous makeovers since their initial introductions. But, essentially, their earlier versions would have altered the information required of applicants seeking driving privileges. Proponents of the bills said doing so world cut down on the number of undocumented immigrants obtaining the legal right to drive.

Both state’s laws require that applicants for licenses—or “driving-privilege cards” in Utah—must provide either their Social Security Numbers (SSN) or their Individual Taxpayer Identification Numbers (ITIN). There is a key difference between the two: SSNs are issued only to U.S. citizens, but ITINs are issued regardless of immigration status.

According to a report to the Utah state legislature in 2008, the vast majority of motorists in Utah who secure the right to drive by getting driving-privilege cards used an ITIN to do so. Out of the nearly 35,000 cards that were valid at the time of the study, only 606 were obtained by providing documentation other than an ITIN. Read more…

Affordable and Adequate Insurance

A major part of operating an automobile is maintaining a car insurance policy that satisfies a motorist’s state requirements, offers affordability to the consumer and adequate protection. All but a few states require motorists to maintain a vehicle policy at all times in order to drive or keep a valid registration, but all states do mandate that if a driver is responsible for causing property damage and/or bodily injury to a third party, it must be paid for and failure to do so can result in legal woes and dire consequences. Finding affordable policies that offer optimum protection is key to keeping peace of mind to being behind the wheel.

Unfortunately, since automobile coverage is looked at by many consumers as another bill, a large percentage of motorists obtain policies that only satisfy the absolute minimum protection allowed by the state. This is usually done in an attempt to obtain the most affordable car insurance rates possible, but can lead to inadequate coverage. Consumers should be aware that many of the limits set and required by certain states are not enough to cover the costs that can result from serious automobile accidents and considering more extensive levels of protection can help avoid future financial hardships and be found at a reasonable rate. Read more…