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Posted on May 17, 2011 by Margaret Chan
So much needs to be done to make the insurance business more credible. For starters, IRDA needs to set up a fund to protect its policyholders. Insurance companies should take responsibility and settle claims for their customers promptly.
Continue ReadingPosted on November 29, 2010 by Margaret Chan
The world of British auto insurance has always been a place where people followed misinformation and a significant number of bad decisions were commonplace. Lately, though, it seems as if this has been ratcheted up a couple of notches. The article in question speaks to the idea that people are willing try almost anything to bring down their car insurance. Making horrible financial decision is a huge part of it, as people are gambling by taking out an excess amount that makes their insurance policy largely unusable.
Continue ReadingPosted on November 29, 2010 by Margaret Chan
Most drivers only think of their personal circumstances when it comes to their car insurance rates. Things such as accident history, driving record, and other personal factors all lend to the final rates for the individual. There are other factors at work that affect car insurance rates on a much larger scale. Many people would be surprised to learn that their driving record is not necessarily the biggest contributor to their rates.
Continue ReadingPosted on November 29, 2010 by Margaret Chan
It can only be a good thing to begin getting uninsured drivers off the road. A lot of accidents involve unisured drivers because these tend to be the most dangerous on types of drivers on the road. They just don’t have the insurance plan because they have been part of accidents so many times that no one will give them insurance. As a result, this means that people who do pay insurance will have to pay higher premiums because of them. This has been progressively getting worse year on year and in order to prevent this from a downward spiral, this needs to be looked into.
Continue ReadingPosted on November 29, 2010 by Margaret Chan
Let’s discuss some of the problems that come from the most recent changes in the insurance industry. One of my friends, a lawyer – says he finds that the renewal paperwork sent to him from his car insurance carrier, although lengthy, is not informative about these new changes.
Continue ReadingPosted on November 29, 2010 by Margaret Chan
Car insurance has never been cheap, and it is certainly needed, but the increases that have happened lately are bordering on the absurd. On average, in the past year along – the insurance rates have increased by about 40%. For young drivers, things are even worse. In the past year, the insurance rates for young drivers have shot up by an astonishing 60%. Everyone seems to have felt the impact of these insurance increases. There’s plenty of 22 or 23 year old drivers who have been driving for several years and have spotless driving abstracts.
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