How unpaid parking tickets can jack up your insurance rates – Fox Business
Question: Will having my license suspended, due to something non-driving related such as failure to pay parking tickets, affect my car insurance rates?Answer: Yes, your suspended license will affect your auto insurance premiums because it will be noted on your motor vehicle record.Your driving record is normally pulled at the inception of an auto insurance policy and before the end of your policy term, when it’s time to see if your insurer will renew your policy.While parking tickets alone are usually of no concern to an insurance provider, if your insurer sees that you’ve lost your driving privileges for unpaid tickets, it will definitely take notice. How much it focuses on the suspension and how much that can affect your rates depends upon the underwriting rules and rating system of your car insurance company. Insurance providers will usually charge a suspended driver’s license like yours as a minor violation, so at very least it would cause you to lose your safe driver discount (if you had one previously). Depending on your insurer and state, your rates could actually rise, too.For an example, we ran quotes for a 40-year-old woman in Albany, N.Y., driving a 2012 Prius. With a clean driving record, her annual premium was $1,064. But if she informed the insurer that there was a suspension and reinstatement of her license in the last year, her rates more than doubled to $2,774 a year.If you had a major offense on your record, such as a DUI, in connection with the suspension, then rates would go up even more because your insurer would be rating you on that violation as well.
Read MoreBusiness & Commerce Insurance Customers Excited For New Potential with … – MarketWatch (press release)
CLEVELAND, May 9, 2012 /PRNewswire via COMTEX/ — Business & Commerce Insurance customers are pleased with the new opportunities that are available through International Excess Alliance. IEA acquired Business & Commerce Insurance (BCI), a commercial and personal lines brokerage located in Indiana, in September, 2011.
Read MoreTips to Recognize Car Insurance Myths: The Top 5 Misconceptions – San Francisco Chronicle (press release)
Much of the information regarding car insurance available to consumers online, and especially by word of mouth, is exaggerated or completely untrue. How can drivers separate the truth from the myths? InsuranceHotline.com outlines the top five car insurance myths, and uncovers the truth behind them.
Read MoreTips to Recognize Car Insurance Myths: The Top 5 Misconceptions – PR Web (press release)
(PRWEB) May 09, 2012 Car insurance can be confusing, and it doesn’t help that there is plenty of misinformation being passed off as truth. Some car insurance myths have been circulating for so long that they’ve become entrenched, and the more they are passed along, the more they are believed. InsuranceHotline.com has the truth behind five common car insurance myths.
Read MoreTopAutoInsuranceCompanies.com Helps Drivers Uncover Competitive Car Insurance … – SBWire (press release)
San Fransisco, CA — (SBWIRE) — 05/04/2012 — For many having a car is the ultimate symbol of independence. Putting a shiny new key into the ignition and stepping on the gas pedal provides a unique feeling of freedom that also comes with great responsibility. The first thing that all responsible car drivers need to consider is purchasing an auto insurance policy, but buyers are presented with a myriad of choices that can be overwhelming.
Read MoreOAIN: Rates Increasing for Texas High-Risk Car Insurance Program – EIN News (press release)
Bodily injury, property damage liability hikes will go into effect July 1 /EINPresswire.com/Texas officials announced Wednesday that they will be raising bodily injury and property damage liability rates within the state-run program that covers high-risk motorists, reports Online Auto Insurance News. Rate increases for the Texas Automobile Insurance Plan Association (TAIPA) will amount to a 24.1 percent overall hike for personal passenger auto policies. The new rates go into effect July 1
Read MoreState Farm Life® Introduces New Joint Universal Life Product – Sacramento Bee
BLOOMINGTON, Ill., May 2, 2012 — /PRNewswire/ — State Farm Life Insurance Company today announced the addition of Joint Universal Life (JUL) insurance to the State Farm Life Affiliates’ product portfolio. JUL provides an affordable way for two individuals to obtain life insurance coverage under one policy. Joint Universal Life (JUL) is a flexible premium life insurance policy with the death benefit payable at the first death of two insured lives. This product is available in most states and Canada, and is designed to help households where income needs and the desire to meet liabilities exists regardless of who dies first. JUL is also designed for the business continuation market, providing funds in the form of a death benefit upon the first death which can be used to meet business obligations. The policy can be customized to meet specific needs by adding term riders on either insured. Additionally, the policy builds account value from which loans and withdrawals are available.In addition to providing the important benefits of permanent life insurance, JUL has the convenience of allowing customers to purchase one death benefit, instead of being faced with purchasing insurance on each insured not knowing who will die first. With a single death benefit for two lives, JUL is typically more affordable than purchasing two individual permanent policies.
Read MoreOAI: Importance of Car Insurance Proof Underscored by New Tenn. Law – PR.com (press release)
OAI: Importance of Car Insurance Proof Underscored by New Tenn. LawGovernor gives thumbs-up to police to arrest drivers in serious accidents lacking proof of coverage and a driver’s licenseMemphis, TN, April 19, 2012 –(PR.com)– Harsher consequences for Tennessee motorists who are involved in serious accidents but lack proof of a policy and their driver’s license at the time of the crash were recently approved by the state’s governor, highlighting the weight law enforcement puts on having proper driving and financial responsibility documentation at all times, according to Online Auto Insurance.Under HB 2466, signed by Gov. Bill Haslam on April 16, serious accidents are defined as those resulting in death or “serious bodily injury.”The news may provide just a little more incentive for uninsured drivers to generate a cheap online insurance quote and get covered by a policy.
Read MoreKanetix offers commercial auto insurance – Canadian Underwriter
Alberta businesses can now obtain commercial auto insurance through Kanetix.ca, an online comparison service. Two services from SGI Canada are new to Kanetix.ca’s online roster. First, customers need only complete a short online form to view commercial insurance quotes for multiple drivers or multiple vehicles.
Read MoreGEICO welcomes record-setting 11-millionth policy owner in Tucson – MarketWatch (press release)
TUCSON, Ariz., Apr 10, 2012 (BUSINESS WIRE) — Adam Smith of Las Vegas was greeted by hundreds of associates in GEICO’s Tucson office when he arrived in town last week to celebrate being the owner of the company’s record-setting 11-millionth auto policy.
Read More
