Number of Accidents 23% Greater Than Daily Average

LOS ANGELES, Dec. 6, 2010 /PRNewswire/ — More Californians crash their cars on December 15 than any other day of the year, according to an Allstate Insurance Company review of its California auto insurance claims over the past four years. The number of accident claims on December 15 jumps 23 percent compared to the daily average during the rest of the year.

“This spike in crashes could be related to weather, holiday shopping, travel or other distractions,” says Robert Feldman, Allstate agency owner in metro Los Angeles. “What’s important for drivers is that we stay focused while at the wheel whether on the highway or in the driveway—on December 15 and every day of the year.”

Crunching the numbers on its California car accident claims, Allstate found that the daily average number involving its policyholders during the past four years is 435. On December 15 that number jumps to 539. The fourth worst day of the year is just three days later. On December 18 the average number of claims is 523.

According to Allstate, the top five days for collision claims in California are:

Three Tips to Keep Clear of Crashes

Allstate is asking California drivers to use December 15 as an opportunity to consider three simple safe driving tips.

Eliminate Distractions

Cell phones, channel-changing and shifting packages are all common distractions that can take our minds off our driving. Turn off the phone, place packages in the trunk and make your listening choice before putting the car in gear.

Drive According to Conditions

Rain, snow, high winds, even bright sunshine can all affect driving. Allow space between you and the nearest vehicle, slow down in congested areas and understand that another driver may be distracted—so drive defensively.

Don’t Drink and Drive

Holiday cheer has no place behind the wheel. The National Highway Traffic Safety Administration reminds drivers to keep the party off the road. Plan ahead and designate a sober driver, call a cab or use public transportation if you’ve been drinking alcohol.

About Allstate

To collect the data, Allstate looked at its California auto insurance accident claims from 2006 through 2009 to determine daily claim counts and the average number of claims for each day. The company, the country’s second largest auto insurance provider, used the data to reveal days when automobile insurance accident claims are most prevalent.

The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer. Widely known through the “You’re In Good Hands With Allstate®” slogan, Allstate is reinventing protection and retirement to help more than 17 million households insure what they have today and better prepare for tomorrow. Consumers access Allstate insurance products and services through Allstate agencies, independent agencies, and Allstate exclusive financial representatives in the U.S. and Canada, as well as via www.allstate.com and 1-800 Allstate®.

SOURCE Allstate Insurance Company

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AUSTIN, Texas, Dec. 2, 2010 /PRNewswire/ — Well-educated, well-off American drivers say they’ve suffered the consequences of distracted driving more than other motorists, from getting a ticket to getting involved in a major accident, according to a poll commissioned by InsuranceQuotes.com.

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The poll, conducted for InsuranceQuotes.com by GfK Roper, a division of GfK Custom Research North America, shows how universal distracted driving has become: 93 percent of drivers report they engage in it somehow, whether by texting, talking on a cell phone — even kissing.

All that distraction has consequences: Four in 10 American adults who are licensed motorists acknowledge that being distracted while driving caused them to do one of the following: swerve into another lane, slam on the brakes, get a ticket, almost get into an accident, or have a minor or major wreck.

That number rose to 49 percent for drivers who have a college degree and 43 percent for drivers who earn at least $75,000 a year. Those are the highest numbers among drivers from all income and education levels covered in the poll.

“The InsuranceQuotes.com poll on distracted driving indicates that people who have brains and bucks are more likely to be the motorists you see who are eating, reading or even kissing behind the wheel,” said John Egan, managing editor of Bankrate Insurance, which owns InsuranceQuotes.com. “It appears that well-to-do, well-educated Americans are multitaskers at work, at home—and in the car.”

Among the findings of the poll:

• 41 percent of well-educated drivers and 35 percent of high-income drivers say they’ve swerved out of their lane as a result of distracted driving, versus 32 percent of all drivers polled.
• 37 percent of drivers with a college degree and 33 percent in the highest income bracket report slamming on their brakes because of driving distractions, compared with 29 percent of all motorists polled.
• 26 percent of well-educated drivers and 22 percent of well-off drivers indicate that distracted driving caused them to nearly get into an accident, compared with 18 percent of all drivers polled.

Sixteen percent of fatal crashes in 2009 were attributed to distracted driving, according to the National Highway Traffic Safety Administration. Experts say any at-fault crash, including a wreck attributed to distracted driving, can trigger a hike in a driver’s auto insurance premiums.

To see more findings from the InsuranceQuotes.com distracted driving poll, visit www.insurancequotes.com/distracted-driving.

Poll methodology

This poll was conducted online Oct. 1-3, 2010, via OMNIWEB, a weekly national online omnibus service of GfK Roper Custom Research North America, for InsuranceQuotes.com. GfK Roper completed 1,006 interviews with 485 male and 521 female adults age 18 and older from a representative sample of the online population from GfK’s online consumer panel. Of this group, GfK Roper identified 858 who had a valid driver’s license.

The raw data were weighted by a custom-designed computer program that automatically develops a weighting factor for each respondent using five variables: age, sex, education, race and geographic region. Each interview was assigned a weight based on the relationship between the actual proportion of the population with its specific combination of the five variables used, and the proportion in the sample that week. The margin of error for the weighted data is plus or minus 3 percentage points.

About InsuranceQuotes.com

InsuranceQuotes.com provides consumers with a free, easy way to shop for and compare insurance quotes online, and delivers information about auto, home, health and life insurance and other types of insurance.

For more information, visit www.insurancequotes.com.

InsuranceQuotes.com is part of Bankrate Insurance. Aside from InsuranceQuotes.com, other Bankrate Insurance companies are NetQuote.com, InsureMe.com, LocalInsurance.com and AutoInsuranceQuotes.com.

SOURCE InsuranceQuotes.com

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FT. LAUDERDALE, FL, Dec. 1 /PRNewswire/ – Just in time for winter, TheyWroteOffMyCar.com Inc. announced today the launch of a new website called MyCarIsWorthLess.com (Worth – Less, not worthless) to help consumers calculate the reduced, or diminished, value of their vehicle after an insurance repair claim.

“Approximately 15% of vehicles on the road are involved in a vehicle damage claim annually,” claims Viraf Baliwalla, President of TheyWroteOffMyCar.com. “About 10% of those claims result in a total loss. But 90% are repaired and have a claim registered against their history and therefore incur ‘diminished value’ which amounts to billions of dollars nationwide annually.”

Imagine you’re driving along in your new car, minding your own business, and out of the blue someone rear-ends you. You take down their information, call the police, then your insurance company and take your car to the nearest bodyshop where it is repaired so well you can’t tell it was ever hit. The insurance company pays for the repair as well as your deductible, so you haven’t lost a cent. Or have you?

“Even if a vehicle is repaired properly by the insurance company, the vehicle still has an inherent decrease in value just because of a claim being registered against it,” states Baliwalla. “Try to sell that car or trade it in and be ready for a rude awakening, anywhere from several hundred to several thousand dollars.”

It is not the insurance company’s responsibility to inform you of your eligibility for diminished value or to educate you on how it works. Plus, you have to be able to demonstrate that you have incurred the amount of loss you are claiming.

“Most people don’t know they are eligible to claim for diminished value and therefore don’t ask for it. Nor do they know how to calculate or demonstrate their loss,” says Baliwalla.

And if you don’t ask for it, they don’t typically have to pay it. One of the challenges for both policyholder and insurer has been that both sides have a vested interest but neither have expertise in pricing vehicles. That’s where MyCarIsWorthLess.com comes in.

“This is the first completely neutral online tool that we know about designed by experts in both the car and insurance business that delivers a fair and reasonable result instantly,” claims Baliwalla.

The credibility and science behind the numbers comes from two chief architects of the software that powers MyCarIsWorthLess.com. Together, they have 30+ years of expertise in vehicle buying and insurance auto appraisals.

The cost to generate an online diminished value report is $39, however members of the media can get a special Promo ID to evaluate it for free.

TheyWroteOffMyCar.com is a helpline for consumers whose vehicles have been deemed a total loss by their insurance company. With the addition of MyCarIsWorthLess.com, they expand their reach to repaired vehicles as well.

SOURCE TheyWroteOffMyCar.com

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WILMINGTON, Del., Nov. 30, 2010 /PRNewswire/ — In its quest to offer its customers the latest in mobile technology, 21st Century Insurance today introduced a new application for the iPhone®. The new app will allow 21st Century customers to quickly and easily access auto policy information, while giving them the ability to perform a number of valuable functions – all from the convenience of their iPhone.

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“21st Century Insurance is excited to provide our customers this new application to help enhance their overall service experience,” said Tony DeSantis, president of 21st Century Insurance. “The introduction of this customer tool demonstrates our commitment to providing leading-edge mobile functionality for our policyholders.”

With the new app, 21st Century Insurance customers will be able perform a variety of functions relating to their auto insurance policy, including:

View and pay their bill – 21st Century customers can view their current insurance bill and pay electronically via debit or credit card, or transfer from a bank account.

View policy information – Customers will have 24/7 access to view policy information, and will even be able to view a copy of their ID card.

Access to claims services – Customers can report a claim and document claim details, as well as other functions.

In addition, the app offers 21st Century customers access to other convenient services such as roadside assistance via the 21st Century Security Advantage program; assistance with locating gas stations, hotels, stores and restaurants; helpful safety tips, articles and videos; and immediate contact via phone or e-mail to a 21st Century representative.

“With the faster pace of life and focus on technology, there are more and more people using their iPhone to perform daily tasks,” said Bryan MacDonald, vice president of eBusiness. “The new 21st Century iPhone app was created with today’s ‘on the go’ person in mind.”

21st Century customers can easily download the iPhone application free-of-charge by visiting the App store on their iPhone.

Consumers can learn more about the app and other products from 21st Century Insurance by visiting 21st.com.

About 21st Century

21st Century Insurance is a trade name for a leading group of direct-to-consumer auto insurers in the United States. 21st Century is dedicated to providing customers with excellent coverage and award-winning service and helping them save on auto insurance. Insuring over 2 million vehicles across 49 states and Washington, D.C., 21st Century is also a proud part of the Farmers Insurance Group of Companies®, the third largest personal lines insurer in the country. For more information, visit 21st.com or call (877)310-5687 for a quote.

About Farmers

Farmers is a trade name and may refer to Farmers Group, Inc. or the Farmers Exchanges, as the case may be. Farmers Group, Inc., a management and holding company, along with its subsidiaries, is wholly owned by the Zurich Financial Services Group. The Farmers Exchanges are three reciprocal insurers (Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange), including their subsidiaries and affiliates, owned by their policyholders, and managed by Farmers Group, Inc. and its subsidiaries. For more information about Farmers, visit our Web site at www.farmers.com or at www.Facebook.com/FarmersInsurance.

SOURCE Farmers Group, Inc.

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Cheap car insurance is important to any driver; however, there are some areas that should not be skimped on to save a few bucks; one of these items is uninsured motorist coverage

LOS ANGELES, Nov. 30, 2010 /PRNewswire/ — Especially with today’s economy, drivers are shopping around for cheap car insurance or changing their policy to make it more affordable. Depending on the vehicle being driven, there are some types of coverage that can be dropped, such as collision coverage for cars with low value. One area that should not be dropped is uninsured motorist coverage.

With the difficult economy, some drivers are choosing to drop their coverage all together, meaning that there are more uninsured motorists on the road, adding to the potential of being in an accident with one. If in an accident with an uninsured or under-insured motorist, and the other party is at fault, they do not have insurance that would cover the repairs or medical expenses from the accident. Or they could have insurance, but it is not enough to cover the total expenses.

In this situation, uninsured or under-insured motorist coverage would pick up the tab or cover the difference. This type of coverage has a bodily injury component, which pays covered medical expenses for the driver and passengers, and a property component, which generally covers the damages to the vehicle. Without having these important areas covered, a driver would have to sue to collect damages if the uninsured or under-insured motorist does not pay out of pocket. Plus, these expenses would likely need to be paid out of the driver’s pocket until, or if, they are reimbursed for the costs. When inquiring about a cheap car insurance rate, drivers should ask about this type of coverage.

When it comes to coverage amounts when looking at cheap car insurance, there is no right answer. Coverage amounts can range from $20,000 to $1 million or more but many choose the amount needed to cover their bodily injury. Accumulated assets and risk tolerance should also be taken into consideration.  

About CheapCarInsurance.org:

CheapCarInsurance.org provides drivers and families with a free online shopping service for cheap car insurance quotes. Our service will put you in touch with top-rated car insurance companies that can provide you with free quotes for full coverage or liability auto insurance coverage the same day. To get cheap car insurance quotes, visit the website.

This press release was issued through eReleases(R).  For more information, visit eReleases Press Release Distribution at http://www.ereleases.com.

SOURCE CheapCarInsurance.org

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First Direct Ranks Highest in Customer Satisfaction with Retail Banks in the United Kingdom

LONDON, Nov. 29, 2010 /PRNewswire/ — Retail banking customers in the UK are notably less loyal to their primary financial institutions than in recent years, due in part to perceptions that banks are more interested in pursuing profits than protecting customer best interests, according to the J.D. Power and Associates 2010 UK Retail Banking Satisfaction Study(SM) released today.

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The study measures customer satisfaction with banks in the United Kingdom based on six factors that drive overall satisfaction: problem resolution; account activities; fees; product offerings; account information; and facility.

In 2010, 12 percent of bank customers in the UK say that they “definitely will” or “probably will” switch to another bank—an increase of two percentage points from 2008. In addition, the percentage of customers who indicated they have switched banks during the past 12 months has increased to 7 percent in 2010, compared with 3 percent in 2008. During the same timeframe, the brand image of banks has shifted in a negative direction, with customers perceiving that banks are considerably more profit-driven than customer driven and more inconsistent than reliable.

“Customers in the UK hold generally negative perceptions of their banks’ motives, particularly regarding the pursuit of profit at the expense of the best interests of their customers,” said Stuart Crawford-Browne, senior research manager at J.D. Power and Associates. “Overcoming these image problems will be an important step in salvaging customer loyalty rates, which are key to ongoing profitability.”

The study finds that overall satisfaction amongst retail banking customers averages 683 on a 1,000-point scale in 2010—considerably lower than satisfaction levels in other industries in which J.D. Power and Associates conducts studies in the UK. In comparison, satisfaction among new-vehicle owners and auto insurance customers in the UK averages 789 and 708, respectively.(1)

In 2010, 21 percent of bank customers indicate that they have had a problem or complaint with their bank during the past 12 months. Compared with 2008, problems with poor customer service and website issues have increased more than other problem areas. Among customers who have experienced a problem, only 69 percent say that their issue was resolved. In addition, customers indicate they must contact their bank twice for their problem to be solved. Only four in ten customers who experienced problems say that they were provided with an estimate of how long it would take to resolve their issue. Furthermore, for approximately one in five of these customers, the timeline was not met. In comparison, average problem resolution times for customers of UK banks are nearly twice as long as those of customers of banks in the United States.

“Low levels of satisfaction with banks may be reflective of recent negative media coverage surrounding fees, tight credit and disparity in interest rates, as well as customer perceptions that banks assume that customers will put up with poor service,” said Crawford-Browne. “Despite efforts by many banks to become more customer-focused, there still appears to be a gap between accountholder expectations and banks’ ability to deliver on them. While UK bank customers historically have been slow to switch primary financial institutions, their frustration is mounting. It is increasingly likely that customer patience will reach a breaking point and, unless things change, take their accounts away from high street banks and go to institutions that will listen to and accommodate their needs.”

First Direct ranks highest in customer satisfaction with a score of 766,(2) followed by The Co-operative Bank (759) and Nationwide (710). First Direct performs particularly well in three of the six factors: account activities, account information and product offerings. The Co-operative Bank performs particularly well in the fees and problem resolution factors.

“High-performing banks have differentiated themselves from the rest by offering simplicity, accessibility and personal service and cultivating an image that is customer-focused and conveys empathy to customer needs,” said Crawford-Browne. “Considerable changes are occurring in the banking industry—including new entries to the marketplace—and it will be interesting to see if banks are able to evolve along with changing customer expectations.”

The study finds that highly satisfied customers (scores averaging 850 or higher) are 10 times as likely to recommend or use additional services with their bank, compared with dissatisfied customers (scores averaging 600 or lower). Highly satisfied customers are also more loyal, and are six times less likely to switch banks compared with dissatisfied customers.

For ratings for banks in the UK, as well as tips for consumers on selecting a bank, visit JDPower.com.

The 2010 UK Retail Banking Satisfaction Study is based on responses from 3,975 customers of banks throughout the United Kingdom. The study was fielded in October 2010.

(1) Source: J.D. Power and Associates 2010 UK Vehicle Ownership Satisfaction Study(SM) and J.D. Power and Associates 2010 UK Auto Insurance Study(SM).

(2) First Direct offers only direct service channels, but customers may utilise the branch network of parent company HSBC. Therefore, performance for First Direct includes ratings for First Direct/HSBC ATMs and branch facilities.

NOTE: First Direct offers only direct service channels, but customers may utilise the branch network of parent company HSBC. Therefore, performance for First Direct includes ratings for First Direct/HSBC ATMs and branch facilities.

About J.D. Power and Associates

The European headquarters of J.D. Power and Associates is located in Munich, Germany.  With world headquarters in Westlake Village, California, U.S.A., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction.  The company’s quality and satisfaction measurements are based on responses from millions of consumers annually.  J.D. Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a global information and education company providing knowledge, insights and analysis in the financial, education and business information sectors through leading brands including Standard & Poor’s, McGraw-Hill Education, Platts, and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2009 were $5.95 billion. Additional information is available at http://www.mcgraw-hill.com/.  

No advertising or other promotional use can be made of the information in this release without the express prior written consent of J.D. Power and Associates. www.jdpower.com/corporate.

SOURCE J.D. Power and Associates

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I.I.I. White Paper Examines Residual Market Property Plans

NEW YORK, Nov. 29, 2010 /PRNewswire-USNewswire/ — Florida and Louisiana have reduced the number of high-risk policyholders covered by their state-run property insurers of last resort since 2008 while still leaving non-coastal property owners vulnerable to paying for these same insurers’ potential coastal losses, according to the Insurance Information Institute‘s (I.I.I.) recently updated Residual Market Property Plans: From Markets of Last Resort to Markets of First Choice.

Florida Citizens Property Insurance Corporation, the largest property insurer of last resort in the U.S., provides insurance to residential and commercial property owners unable to purchase coverage in the standard market. Yet Florida Citizens saw the number of its total policies in force drop to 1.2 million at year-end 2009, down 14 percent from 1.4 million at year-end 2008. Meanwhile, Louisiana Citizens Property Insurance Corporation, the fourth largest state-run property insurer of last resort in the U.S. in terms of total policies in force behind Texas and Massachusetts, has seen an even more dramatic reduction in its total policy count. Louisiana Citizens had about 165,000 policies in force in June 2008, a figure that dropped to 127,000 policies as of June 2010, a reduction of around 40 percent.

“However, this year’s report by the Insurance Information Institute, like the reports of the last two years, records the ongoing growth in the exposure base of the residual market property insurers along with the still-precarious financial condition of some plans. This growth comes despite a collapse in the housing sector that has brought development in many catastrophe-prone areas to a near standstill,” write the report’s co-authors, Dr. Robert Hartwig, president of the I.I.I. and an economist, and Claire Wilkinson, vice president of Global Issues at the I.I.I.

The I.I.I. estimates that, even as the number of policyholders in Florida, Louisiana and the 32 other Fair Access to Insurance Requirements (FAIR) Plans for which data are available dropped to 2.47 million from 2.62 million between 2008 and 2009, their cumulative exposure to loss grew to $614.9 billion in 2009 from $612.7 billion in 2008. The nation’s FAIR plans account for by far the majority of policies and exposure in the U.S. overall residual property market. But when the FAIR Plan exposures are added to those incurred by Beach and Windstorm Plans, such as those in place in states such as Alabama and Mississippi, the U.S. residual market exposure to loss grows to $703 billion (2009) from $696 billion, according to the Property Insurance Plans Service Office (PIPSO).

“As long as [these] plans continue to grow, state finances will remain under threat and ultimately taxpayers, many of whom live nowhere near the coast, will continue to face the prospect of increased assessments in the years ahead,” Dr. Hartwig and Ms. Wilkinson state.

Since state property insurers of last resort often charge premium rates that do not reflect the risk they are incurring on the policyholder’s behalf, the claims paying capacity of FAIR, Beach or Windstorm Plans is relatively limited, and often exhausted quickly in the event of a severe storm. Should this occur, a number of capital-raising options are available to state-run property insurers. The two main options—levying assessments on all policyholders and issuing bonds that must be paid back by all state taxpayers—often result in higher costs for all of the state’s policyholders, no matter where they live, as these costs are passed along in the form of premium surcharges or higher taxes. Every homeowners insurer doing business in a particular state is generally a member of a state-run residual market program, just as auto insurers join forces to spread the risks involved in covering problematic drivers through assigned risk programs.

“Increasingly plans are being bailed out by a diversion of tax revenues,” the I.I.I. report states, pointing to the fact that in 2008, after Hurricane Ike struck the Texas coastline, $230 million of the $430 million in assessments incurred by the Texas Windstorm Insurance Association’s (TWIA) member insurers were subject to premium tax credits. TWIA is the state’s insurer of last resort for wind and hail coverage in 14 coastal Texas counties and parts of Harris County.

The report also notes that Mississippi enacted legislation in 2007 to allow a one-time diversion of $80 million in federal and state funds to the Mississippi Windstorm Underwriting Association (MWUA), one of the state’s two residual market plans, to boost the MWUA’s reserves for windstorm damage claims and protect MWUA policyholders against rate increases.

The I.I.I. report also offers a detailed analysis of the residual market plans in North Carolina and South Carolina, as well as the states cited previously, a list which includes Florida, Louisiana, Massachusetts, Texas, Alabama and Mississippi. Policymakers and other interested parties seeking an update on the pending federal pieces of legislation on the issue of natural catastrophe risk should consult the I.I.I. report’s Appendix, which can be found on the final two pages of the 51-page document.

RELATED LINKS

Issues Update: Residual Markets.

Facts and Statistics: U.S. Catastrophes

FOR MORE INFORMATION ABOUT INSURANCE: www.iii.org

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The I.I.I. is a nonprofit, communications organization supported by the insurance industry.

SOURCE Insurance Information Institute

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LIVONIA, Mich., Nov. 29, 2010 /PRNewswire/ — Help Eliminate Auto Thefts (H.E.A.T.),  an organization in its 25th year of combating auto theft-related crimes in Michigan, wants to ensure shoppers are making safety a part of their holiday to-do lists this year.

With thoughts tuned to family, friends and celebrations, preoccupied bargain hunters provide an unnecessary amount of opportunity for thieves during the busy shopping season.  

“It’s so easy for people to get distracted and overwhelmed by holiday plans,” said Terri Miller, director of H.E.A.T. “Distractions cause people to let their guard down, providing thieves a prime opportunity.  Fortunately, there are a number of simple steps that shoppers can take to make sure they, their vehicles and their possessions are protected.”

To keep safe this holiday season, H.E.A.T. recommends the following tips:

• Stay alert and watchful.  While walking to your car, take a moment to observe the surroundings. Talking or texting on cell phones, digging for keys or juggling multiple packages can be a distraction, all of which make you an easy target.

• Park in well-lit, high-traffic areas. Try to avoid shopping alone after dark.  If possible, avoid parking near objects that block your view of the surrounding area such as dumpsters, bushes, large vans or trucks.  Avoid parking next to cars with dark tinted windows that you cannot see through.

• Place valuables and purchases in the trunk or out of view. Before leaving your car, make sure anything of value is locked in the trunk or out of sight.  

• Remember where your car is parked.  Walk directly to your car and do not spend unnecessary time wandering around the parking lot. Walk confidently and with purpose.  

• Move your car.  If you return to your car in the middle of a shopping trip, move to another area of the parking lot, deterring a thief who may have been watching you unload and then leave your purchases.

• If threatened by a carjacker with a weapon, GIVE UP THE CAR.  DON’T RESIST OR ARGUE. A life is more important than any vehicle.

• If you witness an auto theft or carjacking, call the police immediately. If you have any information regarding auto theft, insurance fraud or carjacking, call the 24/7 H.E.A.T. tip reward line at 1-800-242-H.E.A.T.  

About H.E.A.T.

H.E.A.T. works with Michigan law enforcement agencies to follow-up on tips.  Tipsters are awarded up to $1,000 if the tip leads to the arrest and prosecution of a suspected car thief or a person suspected of auto theft-related insurance fraud.  Rewards of up to $10,000 are issued if a tip results in the arrest and binding over for trial of a suspected theft ring or chop shop operators.  H.E.A.T. rewards up to $2,000 for information leading to the issuance of a warrant for a carjacking suspect.  The H.E.A.T. tip line is monitored by the Michigan State Police and funded by Michigan‘s auto insurance companies.

Follow us on Facebook: www.facebook.com/HelpEliminateAutoThefts

SOURCE Help Eliminate Auto Thefts

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LOS ANGELES, Nov. 23, 2010 /PRNewswire/ — Though consumers may be so focused on finding the cheapest price for coverage that they end up overlooking the need to fully vet an auto insurance provider, taking a moment to check on the financial status of a carrier could help them dodge a headache down the road. Most state regulators espouse the importance of going with a financially sound company and advise drivers to take the time to research this factor. OnlineAutoInsurance.com also stresses the importance of getting coverage from only the best rated car insurance companies.

Checking on an insurer’s rating can help consumers get a better idea of whether a company is at serious risk of being unable to make good on its debts, which can certainly be a matter of consequence to a person who is owed claim money. Positive ratings, though, do not guarantee that a provider will not go insolvent; the ratings are simply independent agencies’ educated opinions on companies’ financial viability. Nevertheless, they remain the best indicator.

Insurance company insolvencies are relatively rare. According to the Insurance Information Institute (III), rating agency A.M. Best reported that in 2009 a total of four auto liability insurers became insolvent. But for the drivers who held policies with those four insurers, the process of repayment may have been a bumpy one.

When an insurer falters, it receives government assistance in order to get back on the right track. In states like Washington, this may entail the suspension of its ability to issue new policies while an extensive rehabilitation process takes place in which regulators take over the executive roles within the company. If the rehabilitation process fails, the state issues an order of liquidation, and policyholders with claims either get paid on a prioritized schedule or are referred to state guaranty associations.

Source: http://www.insurance.wa.gov/consumers/tips/financiallytroubled.shtml

To research financial standing in order to avoid being left holding a policy from an insolvent company, consumers can go directly to the websites of independent agencies like A.M. Best and search for a particular insurer. It is important that prospective policyholders get this information directly from the agency rather than from the coverage providers themselves.

Readers wanting to learn more about the best rated companies can go to http://www.onlineautoinsurance.com/companies/ratings where visitors will also be able to get free quotes on coverage from a variety of reputable carriers.

SOURCE Online Auto Insurance, LLC

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State Farm® Auto Learning Center Aims to Provide Consumers with Fast, Credible, Third-Party Answers about Auto Insurance

BLOOMINGTON, Ill., Nov. 18, 2010 /PRNewswire/ – What would you do if you witnessed an accident?  What are you required to do?  According to findings from a recent survey commissioned by State Farm®, how people respond to some of the sticky situations that can surround an automobile accident tend to vary greatly.

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Among the 1,000 Americans (individuals who currently have auto insurance) surveyed, responses showed that there is confusion over what the appropriate response is when they are involved in an automobile accident, either directly or indirectly. Key findings from the survey include:

• Do I have to go through insurance? –  About half of Americans (46%) feel it is against the law to refuse to report an accident to an insurance company, while four in 10 (41%) think it is legal to “not go through insurance.”
• What constitutes a witness? – Three fourths (74%) of Americans say they are a witness to an accident if they are within 100 feet and two thirds (66%) say being a witness means not being involved.
• Should I be sorry? – A third of Americans (32%) think that saying “I’m sorry” is more than just an apology and does admit fault and imply legal liability.
• Should I pull over? – 83% of Americans stated they are likely to stop if they witnessed an accident which didn’t involve them.  

These questions are complicated and often involve personal evaluations to the situations.  In an effort to provide general information and guidance to the public about auto insurance, State Farm has launched the Auto Learning Center, a one-stop resource for matters related to auto insurance.  While there isn’t always an answer, the Auto Learning Center will help to provide clarity for questions like these and promote discussion through blog posts and forums.  The site is now officially live and can be accessed at: http://learningcenter.statefarm.com

“We found that many consumers look online seeking answers about auto insurance, but don’t have a resource, outside of the Auto Learning Center, to go to that offers independent, credible information,” stated Patty Gaumond, State Farm Assistant Vice President, Enterprise Internet Solutions. “When we designed the Auto Learning Center, we made sure to include perspective and tips from third-party experts and everyday consumers who can give visitors what they need: credible answers to their real-life questions.”

“Auto insurance is important, yet can be a complicated topic for many people,” added Gaumond.  ”The Learning Center gives consumers access to the resources they need, when they need them, from the sources they trust the most.  We’re not trying to create insurance experts, but we do want consumers to know enough so that they can make the kinds of decisions that provide peace of mind and maximize value.”

The Learning Center is an interactive, online community featuring information about auto insurance, auto care, driving tips and a variety of other topics from knowledgeable third-parties. The site also features discussion forums, polls and a Q&A section for consumers to submit a question or participate in insurance topics related to their specific situation.

For further information on the Auto Learning Center, please visit http://learningcenter.statefarm.com/socialmediarelease.html

About State Farm®:

State Farm insures more cars and homes than any other insurer in the U.S., is the leading insurer of watercraft and is also a leading insurer in Canada. Our 17,800 agents and more than 68,000 employees serve 81 million policies and accounts – more than 79 million auto, fire, life and health policies in the United States and Canada, and nearly 2 million bank accounts. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 34 on the Fortune 500 list of largest companies. For more information, please visit statefarm.com® or in Canada statefarm.ca®. 

SOURCE State Farm

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