The number of drivers without car insurance, referred to as uninsured motorists by most insurance carriers, is rising nationally. Almost 1 in 8 drivers, or 13%, did not carry car insurance in 2015 despite it being required in 49 states. This was up from a national average of 12.3% in 2010.
According to NICB, thefts of vehicles in the United States rose again in 2017 by more than 4%. For the vehicles that were recovered, many were missing parts such as wheels, rims, and other valuable parts. Those that weren’t recovered, probably ended up in chop shops where they were dismantled, and their parts sold on the black market.
I enjoyed writing several blog posts in April that were based on a presentation I gave to a group on frequently asked home insurance questions. I though it would be apropos, to take the same approach with car insurance and address a similar question set beginning with what factors impact your rate but have little or nothing to do with your car!
A Washington Examiner article appeared in my Insurance Journal feed earlier this week raising one of the most interesting questions I’ve seen in a long time and that is, “If two self-driving cars get into an accident, whose insurance covers the damage?” I’m not aware of that happening yet, but it probably will happen. After all, the software that guides these vehicles is still being shaped as both human developers and artificial intelligence, and both are discovering things they may not have considered. There are two scenarios that give us a hint as to the possible answer.
I’ve written several posts on distracted driving and how dangerous it is for both the driver and everyone else on the road. Related topics I’ve written about include the types of things that contribute to driving in a distracted manner such as phone usage, video billboards, electronic systems in most cars, etc. An article recently appeared in The Dallas Morning News and Bloomberg about a recent study that revealed the average car insurance rate increase resulting from a driver being awarded a ticket for distracted driving.
ver the past three weeks, I’ve been faced with three interesting scenarios involving young adults and how to handle their car insurance. There was the adult who hadn’t left the nest, the boomerang, and the one who’s married and out of their parents’ home but received the gift of a car from the parents. Each presented its own uniqueness in addressing who purchases the car insurance, however there was one commonality that everything hinged on. Let’s look at each one.
I had an interesting discussion with a client the other day regarding quoting their car insurance. The parents have a daughter and son attending college and the family just recently purchased a new vehicle that will be used primarily by the daughter. What’s worth noting is neither the daughter nor the son has a driver’s license. They have their permit, but neither one their license and they are 21 and 19.
Over 90% of the prospective clients I talk with have never had an explanation of what’s contained in a car insurance policy. In other words, they are paying for something without understanding what they’re paying for or why. Such was the case when I met with a mom and her adult son to review car insurance quotes I’d prepared for them. Below is an outline of what I presented and what may help you better understand what you have, don’t have, or could have.
What do you do while driving? I know I don’t always pay attention like I should. I may be having a conversation with one of my assistants or answering a client’s questions about their policies. I check email and text messages at lights, confirm directions if I’m headed to someplace for the first time, and listen to books on Audible. I guess this means I’m driving distracted, and I know I’m not the only one. But there’s a new app from TrueMotion that may make each of us a better, less distracted, driver.
Earlier this week, a pedestrian was struck by an Uber vehicle operating in autonomous mode and died from her injuries. This if the first recorded fatality between a pedestrian and an autonomous vehicle, and it raises several interesting legal, liability, and even insurance related questions worth noting.
Subscribe to my newsletter by filling the form below.
A confirmation email will be sent to your mailbox: please read the instructions to complete the subscription.
