In the previous post I have mentioned the Norwich Union having a special GPS based for folks under 25 years of age.
Now this same insurance company has announced a new GPS based insurance plan geared for general public. It will aloow the insurance rates to be continously adjusted on the go based on where and how the given drivers drive. The data in consideration will include information on times of the day and night driven, types of road traversed and the total mileage during the billing period.
What's next? GPS travel insurance figuring whether you are on a safe part of town? :-)
Chủ Nhật, 8 tháng 10, 2006
Thứ Hai, 7 tháng 8, 2006
Far Out British Auto Insurance Scheme
If you live in England and are under 25 years old then you can qualify for an all new type of auto insurance promising to save up to 40 percent on insurance costs. What's the catch? Well, you agree not drive between 11pm and 6 am. The stats have it that the likelihood of an auto accident increases by the factor of 2 during those hours.
The vehicle tracking of that system is accomplished by a custom GPS satelite positioning tracker installed in each car signed up for that deal. For each night of driving during those blackout hours there is an extra fee of 25 British Pounds.
The firs British insurance company on board of that new auto insurance game has been Norwich Union.
The vehicle tracking of that system is accomplished by a custom GPS satelite positioning tracker installed in each car signed up for that deal. For each night of driving during those blackout hours there is an extra fee of 25 British Pounds.
The firs British insurance company on board of that new auto insurance game has been Norwich Union.
Chủ Nhật, 30 tháng 7, 2006
Insuring car and driving in Mexico
Although driving in Mexico is on the right side of the road and the driving rules are much the same - the laws concerning road accidents and auto insurance are vastly different.
When driving to Mexico one should make sure their auto insurance is issued by one of the insurance companies authorized by Mexico.
Also if involved in an auto accident in Mexico, one is considered 'guilty until proved innocent' which means that if involved even in a 'not at fault' car crash in Mexico one is still very likely to spend some time in jail before cleared out by local legalities and procedures. Also driving without at least civil liability insurance in Mexico is considered a felony.
There are also some quirks regarding the specific of the Mexican auto insurance. For example vandalism is not covered under most auto insurances in Mexico. Almost always the car has to be physically gone in order to file a theft claim. Otherwise if you, say have a car window broken by someone, it is the owner who needs to pay, not the auto insurance policy.
And as a side note, almost all of the car leases in US prohibit driving a leased vehicle to Mexico.
When driving to Mexico one should make sure their auto insurance is issued by one of the insurance companies authorized by Mexico.
Also if involved in an auto accident in Mexico, one is considered 'guilty until proved innocent' which means that if involved even in a 'not at fault' car crash in Mexico one is still very likely to spend some time in jail before cleared out by local legalities and procedures. Also driving without at least civil liability insurance in Mexico is considered a felony.
There are also some quirks regarding the specific of the Mexican auto insurance. For example vandalism is not covered under most auto insurances in Mexico. Almost always the car has to be physically gone in order to file a theft claim. Otherwise if you, say have a car window broken by someone, it is the owner who needs to pay, not the auto insurance policy.
And as a side note, almost all of the car leases in US prohibit driving a leased vehicle to Mexico.
Thứ Tư, 28 tháng 6, 2006
New Auto Insurance Climate In Michigan
The state house in Michigan has just passed two bills that might be of benefit to drivers over 50 years old. The catch is that they must complete a traffic accident prevention course in order to qualify but once they do - such drivers would qualify for an auto insurance fee discount. The bills are now being moved to the state senate. The word has it that the bills were introduced to provide a relief to the older Detroit drivers.
Chủ Nhật, 4 tháng 6, 2006
New Mandatory Auto Insurance In China
Chinese officials has announced that as of July 1st this year all vehicle owners in China will have to purchase a mandatory non-profit auto insurance or else risk their vehicles being confiscated.
The step is said to provide funds for those claiming car isurance compensations. Currently China has 130 million motor vehicles of which but 35% have commercial insurance.
The stats are that globally approximately 1.2 million people die annualy in road accidents, of that 20% happens in China. That is some 250,000 people a year or 680 a day.
Also with the Chinese economic boom, there is 14,000 new vehicles being added to the Chinese roads a day. Most of those involved in fatal Chinese traffic accidents are pedestrians and those driving bicycles.
The step is said to provide funds for those claiming car isurance compensations. Currently China has 130 million motor vehicles of which but 35% have commercial insurance.
The stats are that globally approximately 1.2 million people die annualy in road accidents, of that 20% happens in China. That is some 250,000 people a year or 680 a day.
Also with the Chinese economic boom, there is 14,000 new vehicles being added to the Chinese roads a day. Most of those involved in fatal Chinese traffic accidents are pedestrians and those driving bicycles.
Thứ Hai, 22 tháng 5, 2006
State Farm to rise insurance premiums in Florida
State Farm Florida Insurance Company is asking the Florida government to rise insurance premiums by 58.8%. And the automotive division of the company being State Farm Mutual Automobile Insurance Company is asking for a 71.5% hike.
State Farm is the largest private US property and casualty insurance carrier and it is also the biggest one in Florida. The proposed increases are very significan and met with some public resistance but these are to be necessarey to cover much higher insurance claims then in the rest of the country - should the recent high frequency and intensity of hurricanes to continue in the region.
As high as these proposed rates are, these vary by the particular Florida region. For example State Farm is asking for a 117.7 rates hike for mobile homes in the Palm Beach area.
And State Farm is not alone in this trend - some Florida insurers asked for average rate hikes up to 92%.
Also Florida Insurance Comissioner Kevin McCarty said last week that he was 'deeply concerned' about these developments.
Meantime Allstate Corporation being currently the second largest home insurer in the US is seeking to close its Florida operations.
State Farm is the largest private US property and casualty insurance carrier and it is also the biggest one in Florida. The proposed increases are very significan and met with some public resistance but these are to be necessarey to cover much higher insurance claims then in the rest of the country - should the recent high frequency and intensity of hurricanes to continue in the region.
As high as these proposed rates are, these vary by the particular Florida region. For example State Farm is asking for a 117.7 rates hike for mobile homes in the Palm Beach area.
And State Farm is not alone in this trend - some Florida insurers asked for average rate hikes up to 92%.
Also Florida Insurance Comissioner Kevin McCarty said last week that he was 'deeply concerned' about these developments.
Meantime Allstate Corporation being currently the second largest home insurer in the US is seeking to close its Florida operations.
Chủ Nhật, 7 tháng 5, 2006
VIN Stands For Vehicle Identification Number
Yes, did you know that VIN stands for Vehicle Identification Number?
Those 17 digit codes being usually placed around the upper left part of the dashboard can tell you a number of things about your vehicle. The history of VIN started in around the 1950's when american auto manufacturers begun stamping numbers on auto parts and the vehicles themselves. It was not untill the early 1980's though before the National Higway Traffic Safety Administration - a division of US Department of Transportation created the current 17 digit VIN standard which requires all newly manufactured vehicles to be identified by one. Actually, technically speaking the current Vehicle Identification Number standard was first introduced in February of 1977 by the ISO standards commitee under the number 3779 which was precursor for the later official US governmen standard adoption.
Now, what do those numbers mean? All right - the first threee numbers are called WMI or World Manufacturer Identifier except when the manufacturer makes less then 500 vehicles of a given type then the third digit is always 9 and the second position of it is in digits 12, 13 and fourteen. The WMI is specified in the ISO 3780.
Next, the characters 4 through 9 correspond to the VDS orVehicle Descriptor Section and can be used by manufacturers for coding their vehicle description.
And then the last 8 characters of VIN are called VIS or Vehicle Identifier Section while the last 4 characters of it are to be always numeric. ISO also reccomends that the VIN possition number 10 relate to the vehicle production year when such is being encoded. And the position number 11 is to reffer to the factory plant code with letters from A to Z and digits from 1 to 0 except the letters I, O and Q with no spaces or signs in the whole VIN otherwise.
In Europe, the European Union has also issued a vehicles identifying procedure, albeit not as stringent. In it, the year part is not mandatory and the relating of VDS part to the vehicles attributes is also optional.
The VIN plays also an important part in the auto insurance industry as this is the key number by which the insured vehicles are being tracked.
Those 17 digit codes being usually placed around the upper left part of the dashboard can tell you a number of things about your vehicle. The history of VIN started in around the 1950's when american auto manufacturers begun stamping numbers on auto parts and the vehicles themselves. It was not untill the early 1980's though before the National Higway Traffic Safety Administration - a division of US Department of Transportation created the current 17 digit VIN standard which requires all newly manufactured vehicles to be identified by one. Actually, technically speaking the current Vehicle Identification Number standard was first introduced in February of 1977 by the ISO standards commitee under the number 3779 which was precursor for the later official US governmen standard adoption.
Now, what do those numbers mean? All right - the first threee numbers are called WMI or World Manufacturer Identifier except when the manufacturer makes less then 500 vehicles of a given type then the third digit is always 9 and the second position of it is in digits 12, 13 and fourteen. The WMI is specified in the ISO 3780.
Next, the characters 4 through 9 correspond to the VDS orVehicle Descriptor Section and can be used by manufacturers for coding their vehicle description.
And then the last 8 characters of VIN are called VIS or Vehicle Identifier Section while the last 4 characters of it are to be always numeric. ISO also reccomends that the VIN possition number 10 relate to the vehicle production year when such is being encoded. And the position number 11 is to reffer to the factory plant code with letters from A to Z and digits from 1 to 0 except the letters I, O and Q with no spaces or signs in the whole VIN otherwise.
In Europe, the European Union has also issued a vehicles identifying procedure, albeit not as stringent. In it, the year part is not mandatory and the relating of VDS part to the vehicles attributes is also optional.
The VIN plays also an important part in the auto insurance industry as this is the key number by which the insured vehicles are being tracked.
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