Car Insurance Central

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Republican Dale Schultz says that provisions concerning car insurance buried in the Wisconsin budget will push up monthly premiums and make Wisconsin one of the states with the costliest car insurance rates. Wisconsin now has the third cheapest car insurance rates of all the fifty states.

Right now, minimum coverage levels are $25,000 for bodily injury per person, $50,000 for bodily injury per accident, and $10,000 for property damage. This is sufficient in 90% of the cases. But the bill proposes to raise this to $100,000, $300,000 and $25,000 respectively. If it becomes law, most people will have to buy underinsured motorist coverage at the new rates.

The people who benefit most from the new insurance rules, according to Schultz, will be the trial attorneys.

If you are out of town and rent a car, you need to confirm with your auto insurance company that your collision and bodily injury coverage still applies when you drive the rented vehicle. If the bodily injury limit is low, you can buy extra liability insurance.

But you will not need the collision damage waiver (CDW) or liability insurance sections of the rental agreement.

VISA cardholders can claim non-reimbursable damages including loss-of-use cost (what the rental company can charge for a vehicle being out of service because of an accident) and all deductibles if the card is used to charge the rented vehicle. Otherwise, you will need to purchase loss-of-use coverage separately.

In these times when money is tight, think about whether you can do without one thing you might have considered indispensable - your car.

Travelling by public transport is cheaper, and if you live in a city, you will be able to find a coach or tube station near where you live.

Besides saving fuel money, you will also be saving on insurance costs and 'green' taxes (set to rise these few years).

Consider the amount you spend on your car, and the amount of travelling you need to do and compare it to what you will be spending if you use public transport. Do you really need this expensive bit of machinery?

The Financial Services Commission of Ontario has warned auto insurance providers to stop practices which prevent people with poor credit or low incomes from getting the best insurance coverage at competetive prices.

While the province already has laws preventing insurers from using information about a person's income to set prices, some insurers were using such information to block people from getting price quotations and competetive renewals.

Superintendent Bob Christie stated that such practices were not in public interest and conficted with the purpose of insurance. He said that auto insurers had 60 days to implement changes to conform to this order, or they would have to face enforcement proceedings.

More and more people on the roads are choosing to do without car insurance. Estimates range from 25% to 40%.

Now while there are some kinds of insurance you can do without, car insurance is not one of them. If your finances are tight - as they are for lots of people nowadays - an accident can ruin you. Paying for repairs or for buying a new car can burn a hole in your pocket unless you have insurance.

The unfair part is that you can end up paying even if you are the responsible driver who has insured his car and even if the accident was clearly the other guy's fault - if the person who hit you does not have insurance.

So get insurance, and tell others to do it too.

In these times of tight finances, many people are going for cheaper insurance policies which offer less coverage, or they are ditching insurance altogether.

But while there are many kinds of insurance you can do without, home and car insurance are not two of them. When money is scarce, a burglary at your home, or burst water pipes, or a major car accident can push you over the edge unless you are insured.

So make sure your car and home are covered by insurance. To get the best price, shop around - you could save more than $200 and get insurance policies that offer comprehensive coverage if you do your research.

The internet is a good place to start. You can go to gocompare.com, confused.com, or moneysupermarket.com. Look at least at four or five offers before you select one.

Prescription opium-based painkillers are being used by more and more people, and addiction problems have shot up.

Consider this:

Opoid drugs - oxycontin, percocet, mscontin, darvon, and vicodin, among others - can be legally prescribed for an increasing list of symptoms. Many of these treatments (standard today) are the result of studies in the 1990s - a number of which were funded by drug companies.

Medicaid pays for this treatment, which has a high risk of addiction. It also pays to treat the addiction that may follow when these drugs are taken for chronic pain.

Cory Timothy Jett of Greenville was the latest to be arrested in an auto insurance fraud case that has put six people behind bars so far. Jett was part of a ring that faked car accidents to claim insurance money. The ring has been active for more than four years, and has stolen more than $100,000 in fake claims.

If you suspect insurance fraud, you can anonymously call the Department of Insurance Investigations Division.