September Auto Insurance News Wrap-Up

Share Article

Online Auto Insurance News summarizes some of the past month's biggest industry news developments

Missouri Tornado claims pass the $1 billion mark, Allstate pinpoints cities with the best and worst drivers, Michigan legislators take aim at the no-fault system and states beef up penalties for driving without coverage. The following are some of September’s most significant car insurance news items covered by News.OnlineAutoInsurance.com :

  •     Fort Collins, Colo., took the top spot in Allstate’s “America’s Best Drivers Report” for the second year in a row. According to the insurer, policyholders in the state file collision claims, on average, once every 14 years. That’s much better than Washington, D.C., the city which scored worst in the study. Residents of the District filed an Allstate collision insurance claim once every 4.8 years. The national average was about once every 10 years.
  •     The average price of coverage in America rose one-third of 1 percent between July and August, according to the Bureau of Labor Statistics. Data that can be found at http://www.bls.gov/cpi/ indicate coverage prices are 3.4 percent higher than at the same time last year.
  •     Recovery from the tornado that struck the city of Joplin, Mo., is living up to its billing as the “largest insurance event in Missouri history.” Regulators reported this month that more than $1.05 billion has been paid out on the nearly 17,000 claims filed in the wake of the storm. Auto claims accounted for about 40 percent of the total claims count but about only 5 percent of the total payments made.
  •     A number of Michigan lawmakers are trying to make changes to the state’s no-fault coverage system. Two bills were introduced that would give policyholders options when it comes to coverage amounts (as an alternative to the lifetime protection that is now provided), and another would prohibit policyholders from getting medical marijuana covered through personal injury protection.
  •     Vermont and Illinois both recently stepped up penalties for driving uninsured. Fines for Vermonters who get caught without a policy will increase from $100 to between $250 and $500. Illinois drivers who have been caught without protection twice previously and get into an injury accident while uninsured will now have to shell out $2,500 for fines.

To read the full versions of these and other reports, readers can go to http://news.onlineautoinsurance.com/ where they will find the only site on the Web devoted to publishing nothing but the most important developments in the American auto insurance industry and marketplace.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Benjamin Zitney
Visit website