If you’re among the families with more vehicles than you need, what are you doing about auto insurance? If you have full coverage on all of your vehicles, whether you drive them or not, you are definitely spending too much on insurance.
On average, the way we pay auto insurance isn’t exactly fair. We could be the best drivers on the road who drive the minimal amount every day, yet end up paying just as much as the speed demons around us simply because we happen to be the same age or gender. The use of M2M (machine-to-machine) technology, in the form of usage-based insurance, can do wonders for getting auto insurance rates on an even road.
Mercury Insurance Group, a major backer of a hotly contested insurance measure on the June ballot, faces potentially costly fines in the wake of a new state report alleging that California’s third-largest insurer is violating state laws “despite agreements with the state to terminate illegal behavior.”
A small, blue plastic box may be the future of car insurance.
The box, which plugs into the on-board diagnostic port of the car, wirelessly sends data to the driver’s insurance company.
Prop. 17, which is almost entirely funded by Mercury Insurance, is designed to fool voters into believing it is simply a change in the law that would allow insurers to offer a “continuous coverage” discount on policies to new customers who switch auto insurance companies.
Sacramento Superior Court Judge Allen Sumner declined to delete wording submitted by insurer Mercury General Corp., the main sponsor of Proposition 17, in voter information pamphlets.
Any reductions in premiums for drivers who qualify for the persistency discount, or the increase in premium for those who do not maintain continuous coverage, are products of existing regulations - not Proposition 17.
Drivers know that buying auto insurance is mandatory, so maintaining a low rates is something they can control. You are never married to your insurance company.
In what is shaping up to be a hotly contested ballot measure, Mercury Insurance — the state’s third-largest auto insurer — is bankrolling an initiative that would allow insurers to base their rates partly on how long drivers have kept up their policies.
California’s Alliance of Insurance Agents & Brokers announced its support for a state ballot measure that would change the rules by which automobile insurers could provide discounts to continuously insured drivers.