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TheTruthAboutOnline Auto Insurance operates a website called OnlineAutoInsurance.com, where a helpful new FAQ on getting financial protection against vehicle theft has just been posted. Unfortunately, over 700,000 cars were stolen in the US in 2010 alone. There aren't any statistics for how many auto thefts are covered by insurance policies, but it's a good bet that not all of them were covered.
The reason is that theft is typically only covered by comprehensive policies, and that level of coverage is not required by any US state. Many companies providing auto loans require that drivers obtain comprehensive coverage, but once the vehicle loans are paid off then the owners can drop the coverage at any time. In the case of many older vehicles, it may not be cost effective to purchase comprehensive coverage.
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CarbonNYCTornadoes are very unusual for the state of Massachusetts, and a recent spate of tornadoes in the state has caused a large number of online auto insurance claims for storm-related damages. There were a total of 3,700 auto insurance claims filed in the state that were directly related to the storms, and these claims amounted to over $15 million in damages.
Car damage claims represented 45% of the total insurance claims filed due to the storms, but only 11% of the total loss. There were a total of 8,200 claims filed in Massachusetts representing over $140 million in damages. Most of the auto insurance claims fell under the category of comprehensive coverage, which is a type of insurance not required by state law but protects against most losses due to incidents other than collisions.
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SPakhrinA new partnership between CN Insure and Sunshine P&C Insurance will give customers direct access to online auto insurance, accident insurance and travel insurance underwritten by one of the largest P&C companies in China. Consumers will get access to real-time price quotes through a new e-commerce platform developed by Inscom, which will connect CN Insure and Sunshine P&C's network platforms for seamless transaction processing and increased efficiency.
Both companies claim that the partnership will also lower costs for consumers, and give them a competitive advantage in China's growing insurance marketplace. CN Insure is a top independent Chinese insurance intermediary, which serves clients in China's most developed regions and largest cities. They offer a wide variety of insurance products which are underwritten by both domestic and foreign companies, and also provide claims adjusting services.
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