Post Date January 17, 2013 – A law cancelling the requirement for new car dealers to provide a federally issued new car insurance comparison booklet has now been signed into law by President Barack Obama recently. New car buyers will no longer handed the New Car Insurance Booklet, titled “Relative Collision Insurance Cost Information”. The new car insurance comparison being distributed by car dealerships. The booklet contained information on New Car Insurance prices on different makes and car models. The New Car Insurance comparison booklet was used to compare how much premium would it potentially cost for a consumer to insure particular vehicles. The National Highway Traffic Safety Administration (NHTSA) takes charge in updating the booklet every year with new claims data gathered by the Highway Loss Data Institute (HDLI). Bottom line, the book was a waste of money because no one used it.
New Car Insurance Comparison Booklet Goes Bye Bye
The requirement on distributing such booklets has been cancelled as it has already been outdated by technology, and has been considered by many as burdensome to businesses and also a waste of taxpayer’s money as most consumers do not anymore ask or request for a copy of the said booklet. Besides, car sales agents can answer to their prospective buyers if asked about the claims data or the loss history of the vehicle being sold. According to the National Automobile Dealers Association (NADA), 96 percent of their members that are selling new cars have declared that none of its customers had ever requested to see the said booklet. Auto consumers do have many other means to find out how much will it cost them to get coverage for their vehicle. Bill Underriner, NADA Chairperson said in a statement that the production of the booklet and its distribution had already “been made obsolete by technology”. “For all of the years I’ve been in business, I cannot recall that a customer has ever asked to see the booklet,” Underriner said.
Michael E. Dortch
President & Senior Agent
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania 19446
(800) 807-0762 ext. 206