Category Latino Insurance Blog

Insurance Giant Raises Rates in California Ahead of Vote

rates in california As Californians prepare to vote on a new law which will allow insurance companies to offer discounted rates for new clients who can prove that they had continuous coverage with any licensed insurer for a period of five years or more, Mercury General is raising its rates an average of 4% per policyholder.

Opponents of California’s Proposition 33, which is supported by Mercury chairman George Joseph and other insurance company heads, predict that the insurer’s new rates will raise costs to its policyholders by an estimated $63 million, thus contradicting the ballot’s measured promise that passage will lower costs for safe and insured drivers.

According to Mercury’s critics, which include Consumer Watchdog and the Consumer Federation of California, the insurer is seeking to make larger...

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Auto Insurance Companies Lower Florida No Fault Rates

auto insurance In an attempt to take advantage of a new Florida law, four of the five largest insurance companies are cutting no-fault insurance rates to lower their costs in the Sunshine State.

Following the passage of a law which targets fraud in Florida’s personal injury protection (PIP) system, Geico, Progressive and USAA have reduced their PIP rates by 10 percent. Allstate has decided to ask for different rate cuts for its three separate insurance divisions; no PIP rate change for Allstate Fire & Casualty, a 10 percent reduction for Allstate Insurance Co. and a 5.8 % cut for Allstate Property & Casualty.

State Farm, the largest auto insurer in Florida, was one of the few companies that decided against lowering its PIP rates...

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Loss of Use Insurance for Texas Drivers

insurance in texas When consumers think about insurance, they usually have in mind such things as how much coverage they are purchasing, what the policy will or will not cover, and how much their monthly premiums will be. The most pressing thoughts center on the amount of damage that an insurance policy covers in case of an accident or a natural disaster, but rarely do people remember that insurance policies have an optional benefit which covers loss of use.

Loss of use insurance benefits can cover almost anything that can be insured, including homes, cars and other property, such as equipment and farms. In addition, loss of use insurance coverage helps policy owners to deal with the long-term effects of instances such as a car accident, or a flash flood...

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New Jersey Fines Among Highest for Uninsured Drivers

uninsured driversAlthough all states mandate that drivers have at least liability coverage in order to drive legally on public roadways, not all states enforce the same rules and fees when a driver is found driving without insurance. A study has recently revealed that the state of New Jersey has some of the strictest consequences for uninsured drivers.

In most states, fines for driving uninsured typically run around $200 with a temporary driver’s license suspension of a few months or until the fines are paid. In New Jersey, however, along with a fine ranging anywhere from $300 to $1,000, drivers run the risk license suspension for up to a year as well as state-mandated community service. The consequences increase for habitual violators...

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Low Cost Program Offers Lower Insurance Rates in California

insurance rates With inflating prices of groceries, gas, and more, many California drivers have been running the risk of not obtaining insurance in order to pay other bills. This of course, is a serious risk, and if caught, an uninsured driver faces a multitude of consequences. Fortunately, the California Low Cost Insurance Program (CLC), which was set in place over a decade ago in order to help drivers obtain affordable California auto insurance, has helped decrease the amount of uninsured drivers on California roadways with it recent changes.

Per California Insurance Commissioner Dave Jones, financial problems have been the primary factor for the high amount of uninsured drivers in California. However, the CLC program has revised their program in order for it to be accessible to more drivers.


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New Yorkers Faced with Increasing Home Insurance Prices

Home Insurance Prices are Increasing in New York

home insuranceWith natural disasters, floods, and escalating prices on building materials, New York residents are faced with a problem that seems to be sweeping through the nation: rising New York home insurance costs.

According to recent information from a local New York insurance firm, winter storm losses have grown significantly over the past few decades, and thunderstorms have caused close to $25 million in damages to local New York homeowners. In addition, the cost of building supplies, such as paint, nails, insulation, wire, and shingles have increased. The aforementioned scenarios have had a major impact on New York home insurance prices.

Lisa Mahill, an engineer in New York, recently stated that her home insurance seems to consistently increase y...

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New York No Fault Car Insurance Laws

auto insuranceNine states nationwide, including New York, require no fault insurance to be purchased as part of an auto insurance policy before being able to legally operate a vehicle. No fault insurance, commonly known as only personal injury protection coverage (PIP), helps protect all individuals who were injured in a car accident.

In New York, the no fault insurance law requires that drivers carry at least $50,000 in personal injury protection (PIP), at least $10,000 in property damage liability (PDL), and at least $25,000 in uninsured motorist coverage. In New York, this plan is typically called the 50-10-25 plan.

In addition to the required coverage however, drivers in New York are urged to buy additional protection...

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Wildfire Threat Endangers California Homes

wildfire threat With drought conditions persisting amidst a wave of oppressive heat, California homeowners have to brace themselves for an increased threat of wildfires, a long-standing bane of residents of the Golden State.

According to a recent collaborative study carried out by the Insurance Information Network of California and Verisk Insurance Solutions, over two million homes – 15% of the statewide total – in various regions of the state face severe damage or even total destruction by wildfires...

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PIP Auto Insurance Law Reformed in Florida

Personal Injury Protection (PIP)

pip auto insuranceFlorida auto insurance has been fluctuating for several years now, and in an attempt to regulate the insurance and prevent fraud, major changes have been made to the personal injury protection (PIP) insurance laws in Florida. This in turn has not only reduced fraudulent activity in Florida, but has also reduced rates for both personal and commercial drivers.

The new Florida PIP coverage consists of drivers maintaining no less than $10,000 PIP coverage for injuries, with an optional $2,500 non-emergency treatment clause. The treatment cause became effective in order to reduce the abuse of the no-fault laws in Florida.

According to Florida insurance regulators, all auto insurance companies must already have plans in place to reduce their PIP rates...

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New Law Allows California Drivers to Keep Insurance Discounts

Insurance Discounts in California

insurance discountsIn 1988, California passed Proposition 103; a law stating that drivers who have no risks within five years of driving are allowed to receive additional discounts, but only if they stay with the same insurance company. However, a newly passed law has changed how California insurance companies provide discounts to safe drivers, allowing drivers to still get discounts after five years of safe driving, even if they switch to another company.

Proposition 33, a newly passed California motorist law, states that consumers who have California auto insurance and have been safe drivers, can either keep their current insurance or switch to another company without their discounts being affected...

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State Farm Florida Increases Rates on Home Insurance

seguro de vivienda Florida homeowners who hold insurance policies sold by State Farm’s subsidiary in the Sunshine state need to brace themselves for an increase which averages 6.9%. This is State Farm Florida’s fifth rate increase in as many years.

The State of Florida’s Office of Insurance Regulation approved State Farm Florida Insurance Company’s request for a rate increase, the fifth such uptick in five years. However, state regulators cut the insurer’s initial request to raise premiums by an average of nearly 15%, which State Farm justified by citing increased costs caused by hurricane and underwriting losses.

The insurer, which is based in Winter Haven, FL, complained at a public hearing that its surplus had slipped down from $877 million to $366 million in the four years between 2007 and 2...

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Geico Now Offers Commercial Auto Insurance in New York

Commercial Auto Insurance in New York

commercial auto insurance In addition to personal New York auto insurance, Geico is now offering commercial auto insurance for New Yorkers. Commercial auto insurance consists of insurance for small business such as contractors, retailers, and more, and covers cars, vans, and trucks that are used by the businesses. The new coverage is offered to new and existing customers, and free quotes can be obtained by calling GEICO.

According to Pionne Corbin, the director of GEICO’s commercial lines, customers now have the benefit of combining their residential and commercial auto policies together, which in the long run, will save time and money on its already low-cost premiums:

“Customers can now contact GEICO for all of their automobile insurance needs, and through the GEICO Insuran...

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Florida May Decrease in Auto Insurance Premiums

Florida drivers could see a price drop of up to 25% of their premiums

seguro de auto Recently, the state of Florida made changes to the personal injury protection (PIP) coverage on automobile policies. With the changes in places, reports have suggested that Florida drivers could see a price drop of up to 25% of their premiums.

However, keep in mind other costs involved with insurance policies may offset the new price reduction. Florida insurance companies are hesitant to explain the new price reduction to consumers because it could potentially expose hidden prices listed as additional costs. For example, a recently revealed hidden was found to be an insurance fraud scheme, which ended up costing companies over a billion dollars.

Executive Director of the Florida Consumer Action Network, Bill Newton, exp...

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Fraudulent Insurance Cards Becoming a New Negative Trend in South Florida

Fraudulent Insurance Cards

fraudulent insurance cards Although South Florida is famous for its beaches, its sports franchises, its culture, year-round balmy weather, a plethora tourist resorts and glitzy nightlife, it’s also infamous for its darker side: drug smuggling, rampant political corruption and, increasingly, auto insurance-related scams.

Due to the explosive growth of the area’s population over the past 30 years, law enforcement agents in Miami-Dade, Broward, and Palm Beach Counties have witnessed many fraudulent practices, including the filing of false auto theft cases, staged car accidents, and self-inflicting damage to automobiles to get payments from auto insurance companies.

The latest scam, however, alarms police agencies and insurance companies because it’s not easy to detect or to deter: over t...

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Lower your Texas Auto Insurance Premiums

Save upto 30% on your Auto Insurance

save on auto insurance In a recent study done in Katy, Texas, Frank Hursh, owner of an independent insurance agency, gave advice on how drivers can potentially lower their Texas auto insurance by up to 30%:

“These steps are so simple it amazes me that more Texans are not taking advantage of them. If they realize how much money they could be saving every month, they will follow them immediately,” Hursh said in his office earlier today.”

One of the easiest ways to save, but something that often overlooked by consumers, is to maximize the discounts they are entitled to. Often, drivers believe that discounts are automatically offered to them after giving out their information to an insurance company, but according to Hursh, this isn’t necessarily true:

“Most people do no...

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Texas Insurance Companies and Weather Services Warn of Dangers

National Weather Service, recently warned Texas residents and business owners

windstorm insurance John Meth, of the National Weather Service, recently warned Texas residents and business owners that the 2012 hurricane season is in full effect and now is the time to ensure that they have windstorm insurance. In addition, tropical storm predictions for this season have increased from 12 to 17 around the Gulf of Mexico area.

In an effort to educate Texas residents, Metz has been touring Texas communities with Mark Hanna, the Insurance Council of Texas manager. Two State Farm community specialists, Amelia Folkes and Alime Nieves, have also joined the tour.

Per Hannah, Hurricane Ike has been the costliest hurricane in the history of Texas when it tore through the state four years ago, leaving many people homeless...

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Brownsville Ranks as Safest Driving City in Texas

Safest Driving City in Texas

brownsville auto insuranceIn the annual “Allstate America’s Best Drivers Report” released in August 2012, Brownsville, Texas, ranked as the safest driving city in the state of Texas, and the 25th safest driving city in the nation.

In 2011, Laredo took the top spot for the safest driving city in Texas, but from 2007 to 2010, Brownsville steadily held on to the #1 spot, and this year has reclaimed its place.

“Allstate America’s Best Drivers Report” was created in order to increase vehicle safety discussions throughout the United States. According to the Texas Regional Vice President of Allstate, Phil Lawson, recognizing cities will help to promote safer driving in the years to come:

“It is vital for us to educate American drivers about safe driving behaviors they can demonstra...

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Auto Thefts on Rise in Texas; Consumers Urged to get Extra Insurance

Auto Thefts on Rise in Texas

auto thefts A recent police report has indicated that car thefts are on the rise in Texas; specifically Odessa, Texas. According to the Odessa Police Department, 280 car thefts have been reported since the beginning of 2012, a massive spike increase from previous years.

In many instances, the stolen cars are later found abandoned, and stripped of major parts such as the engine and transmission. Cosmetic damage is not usual. A concern for police, however, is the people who’ve had their car stolen do not have the correct coverage in insurance to be able to cover the damages done to their vehicle.

In Texas, the state-minimum requirement is liability insurance...

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Texas Insurance Company Shares Ways to Save for Teens

Ways to Save for Teens on Auto Insurance

texas auto insuranceA Texas Auto Insurance has recently shared several ways that Texas drivers can save on their auto insurance prices.

According to Frank Hursh, the owner of a local Texas insurance agency, there are a variety of ways for teenage drivers to save money even though their premiums are usually higher than average:

“Insurance companies are typically reluctant to insure teenage drivers for a number of reasons including that they do not have experience. Age is also a factor. Because teenagers are so young, they tend to be involved in more accidents.”

The first step for parents to take is to purchase their teens safe and reliable cars instead of flashy and expensive sports cars...

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New Jersey Personal Injury Protection News

Personal Injury Protection (PIP)

auto insuranceIn a recent New Jersey regulator meeting, insurance companies were reminded that each company must offer its consumers the default option of $250,000 Personal Injury Protection (PIP). Customers can request a lower limit in writing, but it’s a mandatory requirement for insurance companies offer the maximum PIP coverage.

According to Kenneth Kobylowski of the New Jersey Department of Banking and Insurance, several insurance companies in New Jersey have been violating this rule and not offering its customers the coverage:

“The Department of Banking and Insurance has become aware that some insurers have not been providing $250,000 as the default coverage limit for personal injury protection (“PIP”) benefits for a standard private passenger automobile insuranc...

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New Jersey Offers Pay as You Go Auto Insurance

new jersey insuranceWith insurance prices in New Jersey averaging around $2,000 annually, many drivers are looking for ways to save on their premiums, especially if they only use their vehicles on certain days or weeks, or only drive a few miles per day.

Pay As You Drive

Pay as you drive, known as PAYD, is an insurance program that allows your own driving patterns to dictate what your insurance premium amount will be. The less you drive, the lower your rates, and the safer you drive, the lower your rates.

In New Jersey, PAYD works when an insurance company installs a monitoring device inside your vehicle. The monitoring device is able to gauge how hard you press on your brakes, how far you drive, and how often you drive. This in turn, dictates your premium price...

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Insurance Company Raises Rates in Illinois

Disappointing news for Illinois drivers

illinois driversThere is disappointing news for Illinois drivers who are insured through Farmers Group. The insurance company, which is the sixth largest car insurer in the state of Illinois, has increased its insurance by an outstanding 15% for Illinois drivers. This is the one of the largest insurance price increases in decades.

A Farmers Group spokesperson released a statement explaining the reasons for increased rates, which, according to the statement, is out of the company’s hands. High auto accidents in Illinois which have resulted in rising medical costs, auto repair costs, and parts labor, was the deciding factor that led to the increase.

However, in an effort to lighten the blow, Farmers Group is offering discounts and savings to existing customers who o...

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California Drivers May Need Extra Protection on Certain Cars

california drivers

According to a recent study performed by the National Insurance Crime Bureau, certain cars rank significantly higher for the risk of theft in the state of California. Drivers who own these vehicles are advised to purchase added insurance protection that covers them in the event that their vehicles are stolen.

The report, which studied car thefts that occurred during 2011 in California, concluded that the 1994 Honda Accord was stolen the most, followed by several other foreign and domestic vehicles:

  • 1994 Honda Accord
  • 1998 Honda Civic
  • 1991 Toyota Camry
  • 1994 Acura Integra
  • 2004 Chevrolet Pickup Truck
  • 2006 Ford Pickup Truck
  • 1994 Nissan Sentra
  • 2010 Toyota Corolla
  • 1997 Nissan Altima
  • 1998 Toyota Pickup 4×2

The study revealed that the Honda Accord was also among the most-stolen vehicles in ever...

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New York Drivers and Auto Insurance

Auto Insurance in New York

auto insurance In the busy world of New York, many people opt to use public transportation instead of driving a vehicle. However, being the most populated state in the United States, those individuals who do choose to drive must always consider not only the legal requirements for New York auto insurance, but also extra protection in the event of an accident.

According to the Department of Motor Vehicles (DMV), New York drivers must at least maintain liability insurance if they intend to operate a vehicle. Liability insurance in New York consists of a minimum amount of $25,000 per injury per person, up to $50,000 for two people. In addition, drivers must also have at least $50,000 in the event that they cause a death in an accident, with a maximum of $100,000 for two people...

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Insurance for Texas College Kids

seguro de auto According to the San Antonio Express News, a college student attending school in Waco, Texas, was recently found dead close to his apartment. William Patterson, a freshman at Baylor University, was stuck in his car close to Penland Hall when the car caught fire.

While most students remember tuition, books, and supplies, several Texas college students forget about insurance, such as health, renter’s, and even Texas auto insurance, which is mandatory. However, many students and their parents simply forgo insurance, thinking that the rates are just too expensive for college-bound students.

Health Insurance:

At some schools in Texas, health insurance is a requirement...

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Allstate Insurance Company Ranks Two Arizona Cities as Safest Drivers

Tucson and Phoenix have some of the safest drivers in the nation

arizona auto insurance Good news is in store for drivers in Arizona in regards to insurance savings. A new study done by the Allstate Insurance Company claims that both Tucson and Phoenix have some of the safest drivers in the nation.

According to Allstate’s eighth annual America’s Best Drivers Report, Tucson ranked in the #1 spot for cities with a population between 50,000 to 75,000. The rank is a result of Tucson’s likelihood of collisions ranking 16.4% lower than the national average. Phoenix landed in first place for cities with a population of a million people or more, and boasts a 1.6% lower chance of accidents and collisions than the national average.

Allstate, which based its findings on damage claims data, stated that this could mea...

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New Report Suggests Texas Auto Insurance Consumers Can Save Money

Texas Auto Insurance

auto insurance A new report geared towards consumers in Texas suggests that long-term Texas auto insurance holders will save money by comparison shopping and switching companies.

According to the Office of Public Insurance Counsel (OPIC), the amount of time a customer is with a Texas auto insurance company is a good incentive to shop around for better rates. Customers that are with the same insurance for over two years have the best chance of finding better deals with other companies.

Save Money on Auto Insurance

According to the study, which calculated a rough savings percentage based upon the length of time with an insurance company, drivers should be able to save at least 5% on rates when switching companies...

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Arizona’s Insurance Rates are Among the Highest

Arizona ranks as the one of this highest cost states for auto insurance prices

Arizona insurance According to the Phoenix Business Journal, the state of Arizona ranks as the one of this highest cost states for auto insurance prices, coming in 14th out of all states.

Typical households can expect to spend close to $1,700 per year in Arizona auto insurance costs, although the nationwide average is around $1,100 annually. Several factors go into the costs of auto insurance, including the average price of car repairs, insurance fraud rates, medical care, and the amount of uninsured drivers...

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Lowest Complaints in Over a Decade : Texas Auto Insurance

According to the Texas Department of Insurance, drivers in Texas have filed the lowest number of Texas auto insurance complaints since 1994.

In records going back to 1994, Texas auto insurance holders made close to 4,160 complaints annually. In 2002, Texas auto insurance complaints reached an all-time high, with close over 5,620 complaints in that year alone. However, last year, in 2011, there were only 1,414 complaints. Typically, the complaints involve Texas insurance companies failing to pay claims in an adequate time frame. Complaints are usually filed via email, telephone calls, fax, or through the mail.

The spokesperson for the Insurance Council of Texas, Mark Hannah, stated that shopping around for the best Texas insurance is the reason behind the decline in complaints:

“That’s wh...

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Study finds California a “Low Cost Insurance” State

Low Cost Insurance State

California may have some of the worst traffic in the country, the highest living cost and sport one of the highest average per gallon gas cost, but when it comes to auto insurance, it is one of the lowest in the country per median income.

With the laws differing for insurance in each state, it is easy to see why there are such swings in household cost for insurance. Other factors that play into the cost of insurance are the fraud and accident rates of the specific area. In states like Florida, the fraud rate is so high that many insurance companies are weary to write insurance...

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