Business Auto Insurance Policy Covers Your Family

Business Auto InsurancePost Date January 12, 2014 – Business Auto insurance Coverage is very different than Personal Auto Insurance. In the past, Business auto insurance would not cover and family members living in your household.  A recent court ruling states Underinsured Motorist coverage will be provided through a business auto insurance policy to cover a family member’s damages from an automobile accident although the vehicle He/she is riding in is not listed on the policy.

Business auto insurance coverage in a household can now be accessed

This judicial decision was made by a U.S. Appeals Court.  The case was filed in Illinois. The father’s Business Auto Insurance policy was being sought to pay medical insurance coverage for his daughter’s physical injuries from an accident. It involved a car that was not in his business auto insurance policy. U.S. District Court of Appeals for the Seventh Circuit handed down this decision.

The cased stemmed from a accident in Woodbine Township, Illinois on March 2008. Nicole Haight then was a passengers of a Chevrolet Geo Metro who got hurt when the car rolled over and down an embankment. The young girl was thrown from the car. Her injuries from the accident were very serious.

The Geo Metro’s personal auto policy coverage was exhausted of it’s $50.000 coverage limit In order to pay the girl’s extensive medical bills, her lawyer sought more compensation from the fathers Business Auto Insurance Policy. The law suit looked to access the the Underinsured Insurance coverage of $300,000 from the fathers Business auto insurance company.

The Business auto insurance company filed for a dismissal on Nicole’s claim based on the grounds that she was not a passenger a covered vehicle in the policy. But Nicole’s lawyers argued that she can be covered  the father’s policy has a clause that says “any family members” of the policyholder can be eligible for UIM Compensation.

The appeals court ruled that since the “covered auto” was not present on the portion of the policy that defines who are entitled to the UIM benefits, the UIM coverage shall extend to both the insured policyholder and his or her family members and shall not require “occupation of a covered auto.”

Commercial Truck Insurance May Pay Death Claim

Commercial Truck Insurance May Pay Death ClaimPost Date March 28, 2013 – A Federal Lawsuit was filed against a  Long Haul Truck Driver  was involved in an deadly collision in January of this year.  As a result of this incident, two women were killed as a result of the supposed negligence. The lawsuit came from the husband of one of the fatalities, Suzanne K. Stephenson, 65 years old, a resident of Monroeville, Indiana.  Mrs. Stephenson was a member of the Monroeville Town Council for  over 18 years.  The driver identified as Scott A. Saunders, is being sued for $75,000 of damages. Saunders was driving his semi-trailer rear-ended two vehicles that resulted to the death of two women, and injuries to seven other people. The said accident also caused a pile-up on the said highway. If found liable the Truckers Commercial Truck Insurance Policy will be forced to the $75,000.00.

Commercial Truck Insurance is vital to any shipping business…….

The other fatality was identified as Sandra Dealy, 43 years old, of Convoy, Ohio. Both Stephenson and Dealy were driving two seperate cars at the time of the collision.  A State Police investigations revealed that at that time the light  green and the traffic had already started moving forward when the truck driver failed to slow down.  The Semi hit the rear end of the Stephenson car resulting in her death. The semi that Saunders was driving is owned by Kutzler Express, a Wisconsin-based trucking company. Kutzler is also being named in the lawsuit file by Mr. Stephenson. Although this agent is not aware of the Commercial Truck Insurance carriers covering the drivers vehicle; any shipping enterprise which uses trucks to move freight must purchase a Commercial Truck Insurance  Policy.

The crash is now being investigated by the Allen County Prosecutor’s Office. The actual cause of this fatal accident has not yet been determined.  It’s possible this is an issue of negligence or a maintenance problem.   Regardless; the injured parties as well the families of those killed in the accident can file a lawsuit seeking compensation for their loss.  It is for these events that trucking operators, company or independent are required to Commercial Truck Insurance liability to compensate others for the injuries it has inflicted to other parties in the course of operating the vehicle. If you are in need of Truck Insurance immediately, call InsureAtruck.com.

-Mike

Michael E. Dortch
President &  Senior Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 206

Commercial Auto Insurance Dominated By Travelers

Travelers Commercial Auto InsurancePost Date March 22, 2013 – Travelers Group is now the largest commercial auto insurance company in the United States. The National Association of Insurance Commissioners (NAIC) now indicates Travelers Commercial Auto Insurance is the largest insurer of business cars, trucks and over the road trackers in america.  Over 25 commercial auto insurance companies were compared.  They looked at market share, premiums written and earned premium.  The totals of Travelers Commercial auto insurance premiums were calculated together with private passenger auto with business use along with those Travelers Insurance Policies specifically underwritten as commercial auto insurance. Travelers commercial auto insurance was able to easily pull ahead of there competitors by having written well over two billion dollars in direct premiums besides those written through their independent agency channel.  This represents well over 8 percent of the total market share of business auto in the U.S.  Following  Travelers commercial auto insurance s are: Progressive commercial auto insurance with 1,732,227,091 direct premiums written (6.93 percent market share); Liberty Mutual with 1,550,124,925 direct premiums (6.20 percent); Zurich with 1,550,124,925 (6.13 percent); Nationwide (1,355,638,392 direct premiums (5.42 percent); American International commercial auto insurance with 993,726,565 direct premiums (3.97 percent); Old Republic with 809,595,360 direct premiums (3.24 percent); Hartford commercial auto insurance with 557,903,998 direct premiums (2.23 percent); Auto Owners with 542,622,671 (2.17 percent); and WR Berkley with 473,687,331 direct premiums (1.89 percent).

Travelers Commercial Auto Insurance is now #1 in america. Call (800) 807-0762 for a quote.

Commercial auto insurance provides insurance coverage for both business cars and trucks which are used for commerce usage. Many types of vehicles that can be considered for coverage under a companies commercial auto insurance policy.  These may include cars, vans, trucks, SUV”S.  Other types of vehicles that are being used to do business like scooters, quads and golf carts.  Like a personal auto insurance policy, it has same coverage such as liability, comprehensive, collision, uninsured motorist, medical payments. If you are looking to insure your commercial or business vehicle, log-on to insureatruck.com

-Mike 

Michael E. Dortch
President &  Senior Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 206

Auto Insurance Claim Mobile App Helps Motorists

Auto Insurance Claim Mobile AppPost Date September 2, 2012 – A study conducted by the National Highway Traffic Safety Administration revealed Five Million vehicular accidents occur each year The United States of America. But what is more depressing is the result of a recent survey conducted by the National Association of Insurance Commissioners (NAIC) released in July, showed many Americans are simply unaware as to what the proper procedures are when they have an accident and to the proper things to do before and after they file an auto accident. The survey showed that most of the participants in the survey did not know what information to provide and collect from the other parties involved in an accident. Further, many never even called the police from the accident scene or after they arrive home.  About 20 percent of the survey’s respondents believe that calling the police is just necessary if there are people injured in an accident and that they are unaware that police reports help facilitate  an auto insurance claim.

Auto Insurance Claim App changes the rules on filing claims

Since this has been a an ongoing problem among auto insurance policy owners, the National Association of Insurance commissioners (NAIC)  released an innovative mobile smartphone app for those needing to file an Auto Insurance Claim.  It’s called WreckCheck.   WreckCheck  is a free mobile application which will certainly help drivers navigate the do’s and don’ts of an auto insurance claim. This application will provide users with the step-by-step process of creating an accident report which is vital when filing an auto processing for insurance claims. WreckCheck will also allow users to take pictures and document necessary information in filing an auto insurance claim.

After creating the accident report, the mobile app will also let users to email the report to themselves and to their auto insurance company. Aside from guiding the driver in documenting accidents and creating accident reports, WreckCheck also provides drivers some tips on how to stay calm, safe and smart while on the road. The auto insurance claim application is currently available for iPhone and Android smartphone users.

-Mike

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 602


Commercial Auto Insurance Is Much Cheaper

Commercial Truck Insurance RatesPost Date August 24, 2012 –  There’s a common misconception among those intending to start a business.  For some reason most people feel Commercial Auto Insurance is more expensive than a standard auto insurance policy.  The truth is commercial auto insurance is cheaper. Regardless of who you are or where you live, everyone needs to send something from one point to another.   If you are in business in a large urban area and you do business with other enterprises in the same area, using a Courier Service is a very economical way of sending correspondence or packages across town.  Many whom are new to the courier businesses in Ohio’s larger cities

don’t use trucks. Most use SUV’s or Cars.  These vehicles fall under the category of a Private passenger Automobile. Many of these business owners feel commercial auto insurance is more of an expense than regular auto insurance. Sadly, they end up purchasing a Personal Auto Insurance. Although cost is an issue, using a commercial use vehicle without commercial auto insurance is a major problem.  If you find yourself in an accident situation, a private passenger insurance company could refuse to pay your claim.

Commercial Auto Insurance Is Cheaper

Always consider the  importance of your business vehicle – it’s the corner-stone of your business. It must be well taken care of, and that means insuring it properly.  That means purchasing commercial auto insurance. Starting up and running a courier service can be  an easy endeavor at first.  In the beginning, you can do this by yourself.  As your business grows, you need more help and more vehicles. Vans or trucks can be very advantageous when shipping large boxes and packages. When you reach a point of growth when those type of vehicles are needed, many business owners find out how much money they over spent because they didn’t have commercial auto insurance.  It’s when that truck is purchased and the business owner attempts to add that vehicle and the agent informs the client he/she can’t.  What most business owners don’t realize is, a commercial auto policy is a named driver from.  The drastically reduces a companies risk and lowers the price.  In most cases, you can insure a box truck for the same price as a Ford Explorer.

Commercial Auto insurance provides protection to your vehicles and your business. Personal auto insurance policies can never do this unless you are a salesperson and you add business use to your personal auto policy.

-Mike

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  Option 1

Taxi Service Charged With NJ Commercial Auto Insurance Fraud

 NJ Commercial Auto Insurance Fraud

NJ Commercial Auto Insurance Fraud

Post Date August, 5  2012 –  An owner of a taxi and limousine service based in Newton, New Jersey was indicted for falsely registering and insuring his service vehicles in New Jersey to obtain lower NJ Commercial Auto insurance premiums. The New Jersey Attorney General,  identified the accused as Moustapha Lo, owner of Safe & Fare Transportation, a resident of Brooklyn, New York.  He was charged for second-degree NJ Commercial Auto Insurance Fraud, three counts of third-degree theft by failure to make required disposition of property received, and three counts of third-degree theft by deception. Newton Limo, Taxi Service Accused of Insurance Fraud Lo was also identified as the owner of Allo Taxi Limited Liability Co., a company that is also based in Newton.

 NJ Commercial Auto Insurance Fraud

According to the New Jersey Office of the Attorney General, between October 2007 and January 2008, Lo allegedly declared misleading statements in applying for NJ commercial auto insurance policies. He was said to have claimed that the vehicles under his New Jersey companies were garaged and being operated in Newton and the Sussex County. However, the prosecutors found out that the said vehicles were garaged and operated in New York City. Aside from this, Lo was also alleged of obtaining premium money from two customers by making a false impression that the said premiums received by his company were forwarded to another insurance company. There is one thing you should keep in mind when thinking about non-disclosing or fibbing on an NJ Commercial auto insurance application.  If you don’t get caught at the time of application, you are going to get caught at the time of a claim.

Lo is also accused of letting three NJ Commercial auto insurance policies to lapse for non-payment of premiums, and keeping the money for himself.

Mike

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762

New Jersey Auto Insurance Fraud Case Charged

Friday’s Post  4/27/12 –  A New Jersey man pleaded guilty on charges to commit New Jersey auto insurance fraud against a number of New Jersey Car Insurance Companies  robbing them of $2,000,000.00 in insurance fraud claims. Prosecutors charged a Chiropractor on a single count of conspiracy to commit fraud by mail, engaging in a scheme based out of his chiropractic practice. The man  had two New Jersey offices which are no longer in operation.

In 2006, the  New Jersey man entered into conspiracy with an personal injury attorney and other accomplices to commit car insurance fraud against auto insurance companies by making claims using false information provided to insurance carriers, for accident claims directed by the injury attorney. The auto insurance claims made exaggerated statements regarding the patient’s condition and the costs incurred in caring for their injuries as a result of auto insurance accidents. The Chiropractor paid the lawyer cash, in excess of over one hundred thousand dollars for the fake patient and auto insurance claims information. The attorney then paid cash to auto insurance customer to find victims of automobile collisions that the attorney would then represent.

The chiropractor would use his practice to administer treatments to patients for 6 months without regard to the medical necessity, and refused to resolve the cases of patients without the authorization of the lawyer. At the end of the extended treatment period, the patient would be given a rating for partial disability, irrespective of their real physical condition. The patient received a rating for an auto accident prior to the patient being elevated for another auto accident treatment claim. The chiropractor also accepted responsibility for his knowledge that the lawyer was using an unlicensed doctor for medical records reporting. In addition to the scheme, was also the proprietor of a medical testing company providing tests to auto accident victims without any medical necessity. The unlicensed doctor would use the chiropractor for medical tests, believing carriers would raise settlement amounts under a doctor’s direction. If convicted of auto insurance fraud and related charges, the Doctor could spend 5 years in jail, and repay about three and a half million dollars in fines. Similar Auto Insurance Accident Fraud stories have been reported in PA, NJ, DE and OH. These Car Accident Schemes raise auto insurance rates and makes it difficult to shop for budget car insurance rates.

-Mike

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 602

Texas Public Safety Officials Eliminate Thousands Of Unsafe Commerical Trucks

Saturday’s Post  12.24.11 –  According to a report from the Texas Department of Public Safety (DPS), the states department of motor vehicle;  safety officers have disposed of around 66,000 unsafe commercial vehicles and suspended the commercial drivers license’s of more than 12,000 unsafe commercial drivers since the beginning of 2011. The Director of  the Texas Department of Public Safety said that more than  300,000 commercial vehicles were analyzed by vehicle enforcement personnel and Texas Highway State Troopers. Out of their analysis, the DPS eliminated more than 66,000 vehicles and 12,000 drivers from the state’s roadways as they were deemed to be breaching safety margins. It’s been determined Commercial Vehicles are responsible for more than 15% of the fatalities in Texas auto accidents every year. Where most drivers choose to obey the law; others attempt to drive safely in unsafe vehicles or drive unsafely in perfectly safe vehicles.  In some cases, drivers were found not to carry any type auto insurance.  Operators like these “pose a serious threat” to everyone travelling on Texas’s roads and highways. The aim of this program is to reduce the number of crashes caused by unsafe commercial motor vehicles and drivers who operate their vehicles recklessly.

One DPS enforcement operations  falls in an area called “Operation Texas Thunder”. Following continuous objections about truck traffic in McMullen Country, Operation Texas Thunder suspended around two-thirds of all vehicles inspected.  In another event during Texas Thunder operations held in the Corpus Christi area, 400 fines were cited and 206 cars were eliminated from the Texas Streets. The outstanding work by these Texas State Troopers and inspectors has undoubtedly prevented hundreds of accidents and saved even more lives and prevented injuries. Other efforts have been brought to bare to uncover Texas companies inclined to violate the law and place innocent people in danger.  These companies knowingly keep dangerous vehicles  and drivers on Texas Highways.

-Mike

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 602

Farmers President and COO Named as member of the Zurich Financial Services Group Executive Committee

Tuesday’s Post 12.20.11 –  On January 1, 2012, Jeff Dailey will become the newest member of the Group Executive Committee of Zürich Financial Services and CEO of Farmers Group, Inc. He will report to Zürich’s CEO,  Martin Senn. Although a promotion of this magnitude would mean a move to Zürich’s Headquarters in Europe, Dailey will continue working from his office in Los Angeles, CA where the Farmer home office s is located. Dailey joined Farmers 5 years ago when he became President of Personal Lines for Farmers Insurance Group. At that time, Farmers obtained the highly successful Bristol West Holdings, where Jeff became CEO. In January of this year, he was promoted to President and COO.

Jeff Dailey’s career began in claims with Mutual Service Insurance in the early 1980’s. During the early years of his career, he successfully advanced through the ranks at Progressive Insurance Company.  In 1996, he formed Reliant Insurance Company, a non-standard auto insurance underwriter growing it to 300 Million in annual premium before it merged with Bristol West Insurance Company located in Florida. The merger saw Dailey promoted to COO of Bristol West Holdings, Inc. from 2001 until 2003. In 2004, he became the president consistent with the firm’s successful IPO on the New York Stock Exchange. He became the company’s CEO two years later. Dailey got his education at the University of Wisconsin-Madison and the University of Wisconsin-Milwaukee, where he received a bachelor’s degree in economics and a master’s degree in business administration.

Personal Note:  I had the pleasure of first working with Mr. Dailey in 1996 when InsureDirect.com became one of Reliant Insurance Companies earliest appointed agencies.  Over the next few years, InsureDirect grew to be one of Reliant’s largest appointed agent’s writing over $5,000,000.00 in annual premium. Of course we maintain our relationship with Mr. Dailey and Zürich as independent agents for Farmers and Foremost Insurance Companies.

-Mike

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 602

Car Insurance Is The Most Profitable Of The Industry

 Thursday’s Post  12.15.11 – Although there are thousands of car insurance agents throughout the United States; most are not aware the private auto insurance is the most profitable sector in the US Insurance market.  Revenue from auto insurance coverage remains high, despite the economic downturn and  the natural disasters which have led to major losses for most insurance companies the past two years. Reports show that car insurance companies received $165 billion in direct premiums for financial year 2010. This was more than double the $68.2 billion written on homeowner insurance policies, which accounted for 15 percent of overall market share. This makes auto insurance the biggest and most important sector in the insurance industry in terms of revenue and total earnings.  Personal line insurance policies, which consist mainly of auto insurance and homeowners insurance, account for over 50 percent of the total market share. This is greater than commercial insurance that now makes up 49 percent or $226 billion in direct premiums written annually. Nevertheless, findings from the report suggest that private auto insurance profitability is partly due to unexpected negative occurrences of risks in other lines of insurance. This is because the average growth rate for this sector from 2000 to 2010 was merely 2.8 percent. Auto insurance providers suffered measured growth, as the sale of new vehicles remained stagnated during the economic recession. Overall, homeowners insurance grew by about 6.4 percent during the same period, while other lines of the insurance experienced 3.6 percent growth. However, there has been minimal growth in profitability in the commercial insurance sector.  There was an over 20% drop in new business since 2005. Profitability also remains low since we have experienced so many recent natural disasters across North America.

Since the beginning of 2011,  hundreds of natural disasters have destroyed thousands of home.  Homeowners insurance providers paid $25 billion to compensate  policy holders.  A report from A.M.Best shows property and casualty insurance companies lost roughly nearly  $40 billion due to natural disasters. This is nearly double the amount paid out last year.  One of the biggest tragedies was Hurricane Irene.  By the time Irene blew out to sea, it had left over  $70 billion damage.

-Mike

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 602

 

Post Navigator Engineered By Next Post