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Monthly Archives: August 2013

Ohio Auto Insurance Rates On the Rise

Ohio Auto Insurance RatesPost Date August 26, 2013 – Ohio auto insurance rates  being considered to be the lowest throughout the country, it has also been a fact Ohio auto insurance rates have been on the rise for the last few years.  Although many insurance professionals feel the market is hardening,  a report from the Ohio Department of Insurance  shows the average Ohio auto insurance rates from the states top 10 auto insurers have increased 4.1 percent between 2011 and 2012.  Ohio’s top ten 10 auto insurers account for 74 percent of the Ohio auto insurance rates in the entire state marketplace.

Ohio auto insurance rates in 2014 may increase……………….

Between 2008 and 2012, Ohio car insurance rates from the top 10 insurers in Ohio have increased  over 10%.   It has been known that Ohio’s largest car insurance company, State Farm,  showed the lowest overall rate increase with only 0.4%.  Zurich Insurance Group whom owns Farmers Insurance Company registered the biggest overall increase in the last decade with 26.3 percent.  The Ohio Insurance Institute spokesperson states that despite the hikes in car insurance prices, Ohio still has one the lowest average car insurance rates in the country

The one thing we can point to which is driving the increase in Ohio auto insurance rates is medical costs.   Weather related car insurance claims, and collision repair costs has the largest overall effect on Ohio auto insurance rates.  Recently, the only strong cause for the rate increases are the “derecho” storms that have plagued the state.  2012 brought strong winds and heavy rains.  Ohio auto insurance claims in the 10’s of  millions of dollars have hardened the car insurance market making it difficult for insurance buyers this year.  2012 had the highest record for insured losses due to the frequency and severity of bad weather.   Weather-related claims in 2012 are still within a manageable level.   Ohio auto insurance consumers are enjoying one of the lowest average auto insurance rates in the United States, with Ohio having rates much lower to the national average of $791.

No Fault Auto Insurance Fraud Could Decline

Post Date August 21, 2013 – A Florida State Senator has a very strong desire to change the  no-fault auto insurance laws in the state. Florida senator David Simmons, said that he is dedicated to end Florida’s no fault auto insurance system. The law in comparison to other state insurance laws is outdated as no… Continue Reading

Car Insurance Fraud Case Gets Women Jail Term

Post Date August 17, 2013 – Admitting that she defrauded New York auto insurance company, a Utica, N.Y. woman is sentenced to 27 months in prison and ordered to pay close to $1, 500,000.00 in financial restitution for the car insurance fraud case. The U.S. Attorney’s Office for the Northern District of New York identified… Continue Reading

Farm Truck Insurance Protects All Farm Vehicles

Post Date August 12, 2013 – Although farm truck insurance is not required in many states, farmers find the need to protect their major vehicle investments. And farm truck is only one of such major investment.  These farmer vehicles do not come in cheap and farm truck insurance is important if these investments are damaged by… Continue Reading

Homeowners Insurance Questions And Answers

Post Date August 4, 2013 – Misconceptions about homeowners insurance or homeowners insurance questions and answers is common among  insurance consumers.  In this post, we will discuss some of these misconceptions that tend to confuse consumers and the Homeowners Insurance Questions and Answers.  According to the survey conducted by the Princeton Survey Research Associates International… Continue Reading