|
|
| |
| Car and Auto Insurance Discount Savings |
| |
Auto Loss Claims Prove Worth of Insurance
FROM Luman K. Babcock, secretary of the Casualty claim division of the Aetna Affiliated Companies, comes the following selection of recent Automobile insurance claims handled by those companies which convincingly illustrate the value of several coverages:
AUTOMOBILE LIABILITY. We covered a small garage and sales agency in Indianapolis. Liability limits-$10,-000 one person, $20,000 one accident. Employe was testing a car which he had been adjusting. Struck another car in which a bank executive was riding, under circumstances which indicated the employe xvas to blame. Claimant died as a result of injuries. The case was settled for $8,000. Premium for policy amounted to $51.00 annually.
AUTOMOBILE LIABILITY. We covered an automobile owned by a mine superintendent residing near Wheeling, W. Va. Liability limits-$25,000 one person, $50,000 one accident. Assured drove his car at a high rate of speed late at night over a hard surface road, ran in ditch, killing two occupants outright, and severely injuring the other two. This case will likely cost us our policy limit of $50,000. In one case, we have outstanding against us a verdict of $25,000, plus expenses of $1,500. Annual premium amounted to only $26.46.
PROPERTY DAMAGE. Here is a case where a Ford automobile owned by a housekeeper at Hartland. Wisconsin, insured at a premium of S25.56, struck a 10-ton truck at an intersection. Damage was very conservatively appraised at and settled for 52,500.
THEFT LOSS. We insured a 3-ton Reo truck for a transfer company working exclusively for a large grocery concern, for a premium of $29.40. This premium also provided Fire coverage. Notwithstanding the fact that this truck had the name of the owner and the grocery concern painted on the sides of its panel body, it was stolen and probably used for a time by bootleggers, and then abandoned and burned. We paid $2,000 to settle this loss.
FIRE LOSS. We insured a 5-ton Autocar truck for a trucking concern, with headquarters at Summerville, Mass., for a premium approximating $25.00. Truck was loaded with groceries when it caught fire from an unknown cause, resulting in total loss, for which we paid $3,100.
COLLISION LOSS. We insured a Lincoln sedan for a vice-president of a Florida bank against all insurable hazards for a premium of $146.28. Assured's car skidded on wet pavement, striking a culvert in the road, causing substantial damage. The case was settled for 52,400.
Mr. Babcock continues: "Prompt, efficient service is secondary only to adequate protection. Because of our nation-wide service facilities it is possible for us to have a claim representative at the scene of any accident or loss within a few hours after we receive notice. Added to this, there is the army of more than 25,000 Aetna agents who know how to proceed to aid a policyholder in a strange land.
"In some states, on Compensation lines especially, it is often necessary for a policyholder to require protection for as long as fifty years. We have, in our files, numerous Automobile cases that have been pending in various appellate courts for upwards of twelve years. There are many legitimate reasons for delaying disposition of litigation for anywhere from five to ten years."
|
| |
| Latest News |
Washington auto insurance rate holds steady
The median six-month auto insurance rate in Washington has remained steady over the last six months, increasing less than 1 percent to $637 according to InsWeb, an online insurance comparison provider.A Washington household that pays the six-month median rate of $637 and earns the Washington household median annual income of $45,909 pays about 2.8 percent of its gross income for car insurance. ... Auto insurance reforms take effect Wednesday
The Ontario government and auto insurance industry say the reforms will lower premiums. Consumers are skeptical. Elephant Insurance could become major employer
Move over, Gecko. Elephant Auto Insurance has arrived -- and it could become one of the area's leading employers. Ontario auto insurance changes help crack down on fraud, minister says
TORONTO - New auto insurance rules kick in today that the government says help crack down on fraud, but opposition critics say those changes leave honest drivers paying more. Auto insurance reforms cut benefits, says lawyer
The province's new auto insurance reforms take effect Wednesday will be detrimental for consumers, says a Toronto personal injury lawyer. Some consumers will be too confused by the jargon of the 41 new legislative reforms, they won't know how to ensure they get the coverage they need.[...] Ont. auto insurance reforms hurt consumers: critics
Changes to Ontario's auto insurance that take effect Wednesday will provide less coverage for the same cost, critics say. Auto insurance premiums have to go up eventually, McGuinty says
— New auto insurances changes that kick in today are rankling the opposition, but Premier Dalton McGuinty says premiums have to rise at some point. Auto sales in Saudi Arabia may hit $69.4b by year-end
Auto sales in Saudi Arabia may hit $69.4b by year-end Progressive Insurance Automotive X PRIZE to Award Up to $10 Million on September 16 in Washington, D.C. Ceremony
Progressive Insurance, the country's fourth largest auto insurance group, and The X PRIZE Foundation, an educational nonprofit prize organization, will announce the winners of the Progressive Insurance Automotive X PRIZE at a special awards ceremony in Washington, D.C. Up to $10 million will be awarded to as many as three teams that proved their entry vehicle could meet the competition's ... U.S. Car Owners Save Up To $600 Using Autoquotenow.com To Compare Insurance Quotes
Established on-line auto insurance comparison portal, AutoQuoteNow.com, now provides one-click premium comparisons for customers with savings extending to the hundreds of dollars.
|
|
