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Car insurance costs increase for minimum coverage

January 21, 2014

Drivers with the minimum coverage for auto insurance faced yet another rising bill just before the new year rang in: Minimums that are more than double what they have been for decade....

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(11)

oldclaimsguy

Jan-22-14 4:37 PM

stop looking to the other guy to take care of your damages. be responsible to yourself and your family. buy uninsured and underinsured coverage. it's remarkably cheap and affords great protection to those that matter most...you and your family.

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oldclaimsguy

Jan-22-14 4:35 PM

more will become uninsured due to unaffordability. the only ones to see a benefit here are attorneys. insurance industry data supports majority of injury and property damage claims are settled within the now old limits of 12.5/25/7.5. so few accidents involve totaling a car and when the car is worth $25k the owner has collision coverage anyway.

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ResidentofMarietta

Jan-22-14 10:30 AM

Secondly, our so called learned representatives thoughts, "It gained support almost immediately from Ohio Rep. Andy Thompson, R-Marietta.

"It was well past time to update the rates to have them better reflect the costs of liability and repairs and those kinds of things associated with an accident," he said. "It's well overdue in terms of updating those levels of insurance." It was not the rates being updated, the benefits were updated causing a rate increase. So because some only carry the minimum coverage, others have to carry underinsured motorist coverage to help pay for the shortfall. And then, we are required to carry uninsured motorist coverage so that if you are involved in an accident with someone that break the law by not having insurance, you can let your own company pay for damage done after you pay the deductible. Another case for the ones that don't have any respect for others and their property.

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ResidentofMarietta

Jan-22-14 10:15 AM

First off, if you are in an accident through no fault of your own & if the other person only carries the minimum amount of coverage, good luck getting your car fixed and getting the medical bills paid. The insurance company only has to pay the amount of coverage that is paid for with premiums. Anything over that, better go get an attorney involved so they can get their part of what ever you sue the person at fault for, if you win in court.

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iloverootbeer

Jan-21-14 6:15 PM

Coverage for auto insurance is rediculous. I had a policy that was more than my car payment. My driving record is squeaky clean, no ticket whatsoever. But because i fell into a demographic they thought i should pay a ridiculous amount. Don't even get me started on obamacare.

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foselamaz

Jan-21-14 5:04 PM

seems like now would be a good time to drop all additional coverage and just stick with the bare minimum has anyone tried out ***********4autoinsurancequote**** ? they advertise $30/month liability coverage but don't know if it's legit. sounds too good to be true.

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luvthesouth

Jan-21-14 3:53 PM

watchdog1, become self-insured. it is easy just get an acredited insurance company to be your policies administrator. the bigger racket is the one whereby our federal government steps in to rescue those that choose not to forgo certain things in life to purchase insurance or to bank-roll enough in savings or securities in which to cover any unforseen occurances. that is what insurance is for. besides you can always take your assets and underwrite your neighbors and others in your community against any losses they may have. i am sure their low cost premiums from you will more than cover any claims.

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townie

Jan-21-14 2:22 PM

I thought is was state law you had to carry insurance on your vehicle. I wish they would with hold $ if not insured. I've paid out of my own pocket for those that skate on insurance,and it was their fault.Police did nothing!

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Caspiansynn

Jan-21-14 1:21 PM

$5 to $15 is a low estimate the actual cost will be much higher.

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mrhomer

Jan-21-14 1:08 PM

Hope they keep statistics on how many drop their insurance and take the chance...maybe they could make this like Obama care and when you title a car without insurance take the fine out of your tax return...jeez

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watchdog1

Jan-21-14 11:47 AM

Insurance, of all types, is such a big racket!

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