Are you covered in a rental?

Posted Friday, March 14, 2014

As we see summer come to an end the Seattle Times published a fantastic article that can help us weed through the insurance uncertanties of renting a car.  Nobody wants to spend money unnecessarily, but nobody wants to be exposed as well.  The article can be read here:

Chris Albu said, "This reinforces the role of the independent agent.  

You can use your agent as a resource, as a partner, rather than simply someone who you buy insurance from."

Albu's company, QuotePro, is the leader in software that facilitates sales of auto insurance. "Remember that insurance laws and regulations change from state to state, so be sure to consult your insurance agent."Read More

Auto insurance practices might hurt low-income earners

Posted Friday, March 14, 2014

It was reported this week by Reuters that Low-income earners are being priced out of the market for auto insurance because occupation and education are taken into account by underwriters.  

You can see the full article here.  The article "US Auto Insurance Practices Might Hurt Low-Income Earners: Report" posted on on 07/22/2013 goes on to mention Travelers Insurance quoting over $4000 for state minimum coverage to a driver in Baltimore.  

The Consumers Federation of America's Director of Insurance, Bob Hunter, went on to say that "The quoted prices, especially the 9 exceeding $2000, shows that insurers are either over-charging lower income consumers or are not interested in serving them."

"It comes as no shoc...Read More

Auto Insurance Rates in FL Vary Significantly by Zip Code

Posted Friday, March 14, 2014 reported today1 that there are disparities in the premiums being paid by auto insurance based on your zip code in Florida with Miami residents paying up to $2632 and the lowest was reported to be $1043 in Gainseville.  

The averages reported are based on insurance for a single 40-year-old male driver of a 2012 Honda Accord with a clean record and good credit who commutes 12 miles to work each day, with policy limits of 100/300/50 ($100,000 for injury liability for one person, $300,000 for all injuries and $50,000 for property damage in an accident) and a $500 deductible on collision and comprehensive coverage. "This highlights the need for independent agents to use a comparative rater.  

With increasing economic pressures that everyone is facing these days, you can be sure that ...Read More

Car Insurance Comparison System

Posted Monday, October 15, 2012

Chicago based car insurance comparison company launched by Quotepro, Inc. is being expanded on all 50 states.

Online PR News – 27-December-2009 – Chicago, IL — Chicago based car insurance comparison company launched by Quotepro, Inc. is being expanded on all 50 states, a market leader and award-winning pioneer in comparative rating powered by Quotepro, today announced that it is bringing their services to cover all states.

"Consumers across the country are buying insurance products they don't need or use, which costs them money, they must re...Read More

Education & Your Premiums

Posted Wednesday, July 17, 2013 reported today that the premiums paid for auto insurance can be affected by many non-driving factors such as education level & credit history.  The article said that, "The Federal Trade Commission (FTC) studied credit-based insurance scores and car insurance and found that credit information was indeed an effective predictor of claims that consumers will file.  Thus, in states that allow this as a rating factor, car insurance companies can use your credit score to predict your future claims, and thus use it in their calculation of your final premium."1

"This article underscores the value of using a quality comparative rater for both the agency and the carrier," said Chris Albu, Sales Manager for QuotePro, a Chicago-based software development company who have been creating the most comprehensive, reliable comparative rater available for the insurance industry.  "Being able easily adapt your product ...Read More

IL Insurance Minimums to Rise

Posted Friday, March 14, 2014

On July 4, 2013 the Chicago Tribune reported that IL is set to raise the minimum required liability coverage for auto insurance to $25,000 for the injury or death of one person.  The minimum required liability coverage is currently $20,000. The bill is awaiting the signature of Gov. Pat Quinn.  

The increase is being attributed to the rise in costs associated with an accident, namely hospital and healthcare costs.  

The article states that the cost of state minimum auto insurance will rise about $75 per year.  "This will surely add pressure to those already feeling financial pressures.  

Yet again, this will reinforce the need for a quality independent insurance professional who you can trust to find the best rate and the best policy for you and your family," said Chris Albu, Sales Manager at Quo...Read More

IL to Raise Insurance Minimums

Posted Friday, March 14, 2014

Illinois is now poised to raise mandatory auto insurance minimums.  An article in the Chicago Tribune on May 28th reported, "The Illinois House passed legislation over the weekend that would raise the minimum liability coverage -- insurance that helps pay for injuries to others -- to $25,000 for injury or death to one person, up from $20,000. It would also increase minimum coverage to $50,000 for injury or death of two people, up from $40,000."

QuotePro, the industry-leading comparative rater for auto insurance, ramped up immediately.  "We are ready to implement new defaults for our Illinois users that reflect the new state law," said Chris Albu, QuotePro's Sales Manager.  

"This actually demonstrates QuotePro's continous improvements and flexible infrastructure."  Albu noted that QuotePro is continually upda...Read More

Is State Minimum Insurance Best For You?

Posted Friday, March 14, 2014

State minimum insurance may not be the ideal choice for you.  Take this story:

"Crazy things happen to drivers with potentially huge financial liabilities.  This lady running her car into a store is a perfect example.  

This illustrates the needs to take advantage of all that an independent insurance agent can offer," said Chris Albu, Sales Manager at QuotePro.  "Independent insurance agents consistently demonstrate their value through both education and evaluation of their customers' specific situations.  

What's more is that they can shop for...Read More

Mobile Apps OK for Proof of Insurance

Posted Friday, March 14, 2014

The Albany Democrate-Herald reported today that Mobile Apps that show proof of insurance are now accepted in New York and 23 other states.  The article mentions that users of the electronic option of proof of insurance are generally under 40.  

The article also says that drivers can continue to use the traditional option of paper to show proof of insurance.  "The trend is obviously moving towards a paperless solution.  

The insurance industry is no different than every other industry.  Our clients want it and so do their customers, the guys who buy the insurance," said Marco Freudman, President of QuotePro, the leading technology company within the auto insurance vertical.  "That is why we have developed a paperless alternative for proof of insurance."

"Paperless proof of insurance is simply one of our mob...Read More

QuotePro Expands Bind Online Services

Posted Friday, March 14, 2014

Chicago-based QuotePro has announced their expansion into 38 States with their Retail Website Solution. Quotepro Technology allows online consumers to price shop and purchase Auto Insurance 24/7/365.

QuotePro's innovative web solutions stem from experience gained from over 20 years experience working with agencies who sell both standard and non-standard auto insurance.  "We have listened to our agents, our partners, and we have developed new ways to reach consumers.  In doing so we have developed the ultimate online sales tool for auto insurance.

With QuotePro technology, clients can sell online 24/7 and take payments on Websites and Mobile Applications. "We have clients that are closing over 50 deals a day through Quotepro Powered Websites - that is the equivalent of 25...Read More

Teen Drivers Cause Your Premiums to Rise

Posted Monday, March 24, 2014

The San Antonion Business Journal reported today that teen drivers drive up their parents' auto insurance premiums by 71% (see article here).  However, it was noted that this is still below the national average of 84%.  

But this pales in comparison to the fines & penalties imposed on drivers cited for driving without insurance.  In Illinois, for example, the Department of Motor Vehicles say on their website that common penalties include:

  • Having your driver’s license suspended.
  • Having your vehicle registration suspended.
  • Receiving a traffic ticket for a no insurance violation. This is in addition to the traffic ticket(s) you receive for the...Read More