DJordan

Anatomy of an Auto Insurance Fraud Scheme

3 minute read

You hear about the scourge of “insurance fraud” from reading the newspapers and websites like this one. The Coalition Against Insurance Fraud estimates that a mind-boggling $80 billion in fraudulent insurance claims are filed in the U.S. each year. Much of these costs are passed on to consumers in the form of higher insurance premiums. For instance, the National Insurance Crime Bureau says that about $200 to $300 of your auto insurance premiums are a direct result of fraud and its related costs.

But even though you’re aware of auto insurance fraud, you may not have a clear picture of what the term means. Chances are, you Â may not have much of an idea about how this type of fraud is executed and how insurance companies lose money as a result. With that in mind, here is a close-up look at the anatomy of one auto insurance scam that was recently discovered in New Jersey.

The Cheapest (and Most Expensive) Cities for Illinois Auto Insurance

3 minute read

From bustling cities to green parks to beautiful lakes, the state of Illinois has a lot to offer its residents. But to experience all of the advantages of living in Illinois, you need a car to get around the state’s highways and roads.

And in order to drive in the Land of Lincoln, state law requires you to have an auto insurance policy. All Illinois drivers must obtain liability insurance with at least $20,000 in per-person bodily injury coverage, $40,000 in per-incident bodily injury coverage, and $10,000 in property damage coverage. In addition, drivers must also purchase uninsured/underinsured motorist insurance with minimum bodily injury limits of $20,000 per person and $40,000 per accident. On average, Illinois drivers pay about $832 per year for minimum coverage.

Is Illinois Auto Insurance Expensive or Inexpensive?

Are You Covered if You Decline Rental Car Insurance?

3 minute read

These days, renting a car is easier than ever. You can make a reservation ahead of time right from your computer, and pick up your vehicle when you arrive at the rental facility.

What may not be simple is deciding whether or not to purchase car insurance offered by the rental company. Are you covered if you say no, or should you bite the bullet and pay the extra money? This can be made more difficult if you’re stressed from being on a plane for a few hours, grabbing your checked bags off the carousel, and hauling them to the rental car place.

The Cheapest (and Most Expensive) Cities for Georgia Auto Insurance

3 minute read

The precious state of Georgia is the perfect place for peanuts, pecans, and peanuts. From the grandeur of Stone Mountain to the tradition of the Masters golf tournament to the bustling city of Atlanta, Georgia is full of beauty and Southern charm. And you can see it all by car on the state’s miles of highways and other roads.

Is Georgia Auto Insurance Expensive or Inexpensive?

But before you do that, you have to obtain auto insurance, because state law prohibits you from driving without it. Georgia’s minimum liability insurance limits are $25,000 for bodily injury per person, $50,000 bodily injury per accident, and $25,000 property damage. Compared to other states, Georgia is generally in the middle of the pack when it comes to what drivers actually pay for auto insurance policies at around $1,090 per year.

Should You Install a Crash-Avoidance System on your Car?

2 minute read

There’s a distinct advantage to purchasing a new car rather than a pre-owned one. That is, the newer vehicle will probably have more safety features than its older counterpart. Years ago, you could buy a car with optional safety features like anti-lock brakes, air bags and backup cameras. Today, all of this technology is standard equipment on most vehicles.Â One of the latest add-ons for vehicle safety is the crash-avoidance system. Using a variety of sensors and cameras, these systems help the vehicle detect unsafe conditions before the driver can. This reduces the chances of a collision.Read More »Should You Install a Crash-Avoidance System on your Car?

12 Signs of a Quality Insurance Company

3 minute read

If you’re looking to enroll in a health insurance policy in the U.S. and you are unable to receive coverage from an employer, you really only have a few metallically-named choices to select from. But if you are trying to purchase auto insurance, you can pick from dozens or (even hundreds) of companies, all of whom might offer you a slightly different policy. So how are you able to determine which auto insurers are trustworthy – and which are little more than fly-by-night operations?

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