Kanetix.ca has released the top 10 most popular hybrids quoted for 2008, as determined by auto insurance quotes sought on the site.
The top 10-quoted hybrids for the first six months of 2008 are:
• Toyota Prius
• Honda Civic Hybrid
• Toyota Camry Hybrid
• Ford Escape Hybrid
• Toyota Highlander Hybrid
• Lexus RX400h
• Honda Accord Hybrid
• Nissan Altima Hybrid
• Chevrolet Malibu Hybrid
• Saturn Vue Green Line Hybrid
With the rising cost of gas prices, the hybrid market seems to be steadily rising as well, according to a kanetix.ca release.
"In the first six months of 2008, hybrid auto insurance quotes on our site have already reached 74% of 2007's total," George Small, co-founder of kanetix.ca, explains in the release. "If the trend continues, 2008's total hybrid quote activity should not only match 2007 but actually exceed it by almost 50%."
Hybrids are marketed as an environmentally friendly way to save you gas money, Gregory Ellis, co-founder of kanetix.ca notes in the release. "Of course, when it comes to money-saving potential there are other considerations, too -- like the cost of insurance."
Recently in Auto Insurance Category
Ontario auto rates are on the rise, according to data posted by the Financial Services Commission of Ontario (FSCO), the regulator of the province's insurers.
Rate applications approved for 2008 Q1 averaged +1.05%, based on the entire market, FSCO noted in an online bulletin.
Rate changes approved in 2004, 2005, 2006 and 2007 were -10.60%, -2.43%, -1.27% and +0.55%, respectively, for the entire market.
In 2008 Q1, for the 43.37% of the market that had rate changes approved, the average rate change was +2.42%, when weighted by market share.
The Insurance Corporation of British Columbia (ICBC) failed to prove an insured tried to defraud the corporation by faking the theft of his minivan, and B.C.'s provincial court ordered the public insurer to allow the claim.
In Brummitt vs. ICBC, Michael Brummitt filed a claim in June 2005 with ICBC that his 1999 Dodge Caravan was stolen from his driveway. A day or two later, the vehicle was recovered by police; the interior was extensively damaged by a fire that appeared to be deliberately set.
The theft occurred only days before the vehicle's insurance was due for renewal.
ICBC denied liability, alleging Brummitt took the mini-van or arranged with others to simulate a theft.
If a claimant asserts under oath that the vehicle was taken without his or her consent, the claimant does not have to prove that he or she did not participate in the loss, wrote Provincial Court of British Columbia Justice Ross Tweedale.
If the insurer alleges the claimant participated in the theft, that is an allegation of fraud the insurer must prove.
Fraud is a quasi-criminal allegation; accordingly, an insurer must prove fraud on a more stringent standard than simply a balance of probabilities, the judge wrote.
"Despite some aspects of Mr. Brummitt's evidence, his claim that his minivan was stolen is not highly unlikely," Tweedale found. He added that the evidence presented provided a basis for the conclusion that there were a number of ways for the Dodge to have been taken without Brummitt's knowledge.
"ICBC has not proven that Mr. Brummitt tried to defraud the corporation."
| Top-Rated Auto Insurance Companies | ||||||
| Company | Total Premiums | Grade | ||||
| United Services Automobile Association | $1.7 billion | A+ | ||||
| USAA Casualty Insurance Co. | $1.3 billion | A+ | ||||
| Interins Exchange of the Automobile Club | $1 billion | A+ | ||||
| Dairyland Insurance Co. | $92 million | A | ||||
| Auto-Owners Insurance Co. | $380 million | A | ||||
| Sentry Insurance a Mutual Co. | $276 million | A | ||||
| Country Mutual Insurance | $527 million | A | ||||
| Tennessee Farmers Mutual Insurance Co. | $115 million | A | ||||
| Mercury Insurance Co. (NYSE: MCY) | $674 million | A | ||||
| Kentucky Farm Bureau Mutual Insurance Co. | $255 million | A | ||||
| Source: TheStreet.com Ratings | ||||||
1. Take a driver safety course.
2. Increase your deductible.
3. Forgo comprehensive and/or collision coverage.
4. Compare prices regularly.
5. Use the same company for homeowners and auto insurance.
6. Take advantage of group discounts.
7. Choose a vehicle that is less expensive to insure.
8. Use your clean credit report to your advantage.
9. Ask about discounts for young drivers.
10. Pay your premium in advance.
Detailed description about the above top 10 tips to save your Auto Insurance bill, click here.
Frontal crash protection has improved for the six mid-sized SUVs tested by the Insurance Institute for Highway Safety (IIHS), but the tests reveal significant differences in how well SUVs protect people in serious side crashes.
So I hope you find some time to read the whole story of this side crash on SUV.
According to the court, Carluccio, an employee of Carluccio Construction Inc., was driving the company car, insured by Aviva Insurance Company of Canada, with a license that had expired in January of that year.
Carluccio argued he did not receive a renewal form or any notice from the Ministry of Transportation that his license had expired.
Aviva denied liability to both the construction company and Pat Carluccio on the basis that driving with an expired license was a breach of statutory condition No. 4 of the Insurance Act.
Based on the rule of Ontario Superior Court Justice, the Insurer does not have to provide a defence to its insured.
It is clear breach the statutory condition, will void your policy. Any drivers does not hold valid driver license and have a damage in accident, the Auto Insurance policy will not pay you for the liability or property damage.
Ontario appeal court has this case: Clarendon National Insurance v. Candow.
“An insurer’s right to bring a subrogated action is dependent on the existence of a cause of action by the insured,†Ontario Court of Appeal Justice Russell Juriansz wrote for the Appeal Court.
The Florida Legislature has passed a bill to bring back the state's no-fault auto insurance system Jan. 1.
It is a good news for Florida residence. If any accidents happen, the people will be have been covered by Medical care and insurance company will pay the bill to hospital.
If this one is missing, the people may have not enough emergent fund to get proper treatment. Or, after treatment, he can not pay the bill of it.
I trust No-fault Auto Insurance should be included in the basic Auto Insurance coverage.
The bill to restore no-fault passed the House 105-4 early Friday and later in the day was passed unanimously by the Senate. Gov. Charlie Crist has indicated he will sign the bill into lawThe system that expired Oct. 1 provided no-fault coverage for damage resulting from automobile accidents and required drivers to buy at least $10,000 in coverage, which covers medical expenses if they have no health insurance. State legislators failed to extend the law during the regular legislative session earlier this year, but the issue was added to the agenda of the special session that started this week.
Auto insurance companies favored the expiration of the system because it was riddled with fraud, but hospitals were worried that they wouldn't get paid for medical care provided to uninsured motorists.
Toyota Canada Inc. is eyeing the car insurance market as part of an aggressive expansion plan, reports the Globe and Mail.
The giant vehicle manufacturer already offers insurance in several other countries, including Japan, Britain, France, Germany, Australia and Thailand, the paper reported.
“If everything goes well, we want to [offer insurance] within a year,†Toyota president Yoichi Tomihara told the Globe and Mail.
While most vehicle manufacturers in Canada have financial services arms, Toyota would be the first to enter the auto insurance market, although its presence would probably be limited to Ontario, Alberta and Atlantic Canada, where the auto insurance market is private, the paper added.
Ryan Lee, a professor in the department of risk management and insurance at the University of Calgary’s Haskayne School of Business, commented on the potential move to the Globe and Mail.
Lee told the paper the ability to sell insurance through an existing dealership network would give an auto manufacturer a major advantage at the outset, but it is not clear to what extent such a move would shake up the market.
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In BC Canada, ICBC is the only insurance carrier for basic Auto insurance. Tne name of products is Autoplan.
Basic Autoplan makes sure all B.C. drivers have some insurance. But most B.C. motorists buy extra coverage for their vehicles, themselves, and equipment they've added to their vehicles. ICBC sells a variety of optional coverages to meet these needs.
More coverage for your vehicle
Collision
Comprehensive
Specified Perils
Vehicle in Storage
Limited Depreciation Coverage
Replacement Cost Coverage
Collector & Vintage vehicles
Worksafe BC and the trucking industry recently launched Canada's first highway safety corridor, Fraser Canyon Highway Safety Corridor.
The 192km corridor in Fraser Canyon, from Hope to Cache Creek, is set to represent a target for a new driver education program that will teach motorists to share the road with working truckers.
Recent safety initiatives from centre and shoulder rumble strips, to increased concrete barriers, new curve markers and truck rollover warning signs are the focus of the local ministry of highways office.
The Fraser Canyon Traffic Safety Committee, headed by Councillor Randy Bergstrom has been working along with ICBC's Mike Weightman on this initiative to raise awareness of the dangers of transport trucks.
The next steps in this initiative include upgrading the Anderson Creek bridge in respons to a surge in populaion nearby the Boston Bar area.
The program implements a cross-jurisdictional approach to improving highway safety, which may become a model of safety for the rest of Canada.
The following tips are applied in British Columbia only.
The biggest savings on your Autoplan premiums are earned through your claim record.
For each consecutive year of claim-free driving, you save more on your premium through our Claim-Rated Scale. You start at the base rate, and as of January 2001, you can gain an additional 5% discount each year up to a maximum of 40%.
The bad news is, if you have an at-fault or chargeable claim, you move as few as 3 or as many as 6 steps in the opposite direction on the Claim-Rated Scale. You lose part or all of any discounts you have, and may even have to pay a surcharge.
RoadStar savings - Once you've kept your record free of at-fault claims for at least 9 years, you are a RoadStar; for at least 15 years, a RoadStar Gold. That means you're eligible for more savings that will increase with every year that you keep your claim-free status.
RoadsidePlus - This great new package includes 8 coverages for 1 affordable price. Whether you're on the road close to home or far away, you can enjoy true peace of mind with RoadsidePlus.
Seniors' rate - Drivers who are 65 or over and use their vehicles for pleasure only may qualify for additional savings.
Anti-Theft Device Discount - If you install the right type of anti-theft device, you may save more on your premium.
The Financial Services Commission of Ontario (FSCO) has approved an average fourth-quarter rate decrease of 2.56% for 12 companies representing almost a quarter of the Ontario private passenger auto insurance market.
The average rate decrease for the first, second, and third quarters were 1.12% (7.5% of the market), 1.62%(45.79% of the market) and 1.62%(61.82% of the market), respectively.
Rate changes approved for the entire market averaged a decrease of 10.6% in 2004, FSCO recently announced on their Web site. In 2005, approved rates declinded by 2.43% for the entire market.
"The rate changes posed reflect cost savings measures arising from recent reforms to the automobile insurance system, which are being passed onto consumers in the form of lower rates," FSCO says on its web site. "The approved rate change shown for each insurance company is the average for that particular company. The impact of a rate change on an individual consumer will vary depending on where the consumer lives, the type of car he or she is driving, and other risk characteristics."
This is only for British Columbia.
The TransLink Board of Directors has extended the newer vehicle model year exemption to include 2003 model year vehicles in 2006 and 2007. As well, the Board exempted all hybrid vehicles, effective January 1, 2006.These policy changes mean a 2003 model year vehicle will not require an AirCare test until its first re-licensing in 2008 and all vehicles such as the Toyota Prius and the Honda Insight, which utilize a gas/electric hybrid technology, will no longer require an AirCare inspection as a condition of re-licensing.
Aircare
BC's ICBC announce that his rate of basic insurance will increase about 6.5%
On February 1st, the BC Utilities Commission (BCUC) approved ICBC's application for an interim rate increase of 6.5% on basic insurance, effective March 15. The interim rate will remain in place until the BCUC renders its final decision on 2006 basic rates, expected in late May of this year. If the BCUC approves a final rate lower than 6.5%, affected customers will receive a refund subject to the conditions ordered by the Commission.ICBC's January 27 application to the BCUC sought a basic insurance rate increase of 6.5% for 2006 on an interim and permanent basis, as a result of significantly increased injury costs for claims.
ICBC
Corporation told to move $530 million from optional policies
Michael Kane
Vancouver Sun
The provincial government is ordering the Insurance Corp. of B.C. to reallocate more than half of its financial reserves, a move that could lower rates on basic auto insurance.
But watchdog groups say the directive also puts the government back in charge of regulating the publicly owned insurer, while reducing the role of the B.C. Utilities Commission to that of a rubber stamp.
Canadian and U.S. courts often award damages that are much higher than $200,000. In fact, injury awards sometimes exceed $1 million. Without Extended Third-Party Legal Liability coverage, you are responsible for paying any amounts above the $200,000 covered by Basic Autoplan. Most motorists feel more comfortable extending their Third-Party Legal Liability coverage to $1 or $2 million.
1)Loss or damage to anyone's property carried in your vehicle
2)Loss or damage to property you own or rent (for example, your house)
3)Assessments, penalties or premiums owed under the Workers Compensation Act
4)Operation of attached equipment at a work site (for example, a crane attached to a truck)
Most teens spend months counting down the days until they can drive.
While they see only the possibilities, parents are also aware of the responsibilities anyone takes on when climbing behind the wheel of a vehicle.
The ICBC difference
Most other insurance companies charge some of their highest rates to young drivers. Even if teens only drive their parents' car occasionally, the parents get hit with a noticeable increase in their insurance costs.
At ICBC, youth, sex and marital status are not used to determine your premium level. Every new driver, whether 16 or 56, will start out paying the base premium level when insuring a vehicle.
