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Michigan Lawmakers Try to Address High Insurance Costs Again...

Michigan Lawmakers Try to Address High Insurance Costs Again

It looks like Michigan’s drivers are about to be betrayed by their state legislature yet again. The latest attempt to fix the state’s imbecilic auto insurance fails to take any meaningful action to bring down the nation’s highest car premiums. A bill that would “reform” auto coverage in Michigan leaves the state’s no-fault insurance system, which makes it impossible for insurers to raise rates for bad drivers intact, The Detroit Free Press reported. To make matters worse, nothing is being done to curb the Michigan Catastrophic Claims Association (or MCCA), a bureaucracy that guarantees medical care for catastrophically injured accident victims for life. The MCCA is one of the...

RECENT FROM Car Insurance News

Apple Could Begin Self Driving Car Test Soon...

Apple Could Begin Self Driving Car Test Soon

Apple Inc. (NASDAQ: AAPL) could be poised to start testing a self-driving car in the San Francisco Bay Area in the near future. Our friends at The Guardian reported that Apple has entered into a deal to test vehicle applications and technologies at GoMentum Station in Concord, California. GoMentum Station is a heavily-guarded, autonomous vehicle testing center operated by the Contra Costa Transportation Authority at the old Concord Naval Weapons facility just east of Oakland. Its operators claim it is the largest facility in the world for the testing, validation, and commercialization of connected-vehicle applications and autonomous vehicles. Apple Has Arranged to Use Car Testing Facility It should be...

RECENT FROM Car Insurance Rates

Study: Poor Pay More for Car Insurance...

Study: Poor Pay More for Car Insurance

It simply does not pay to be poor in these United States; the least affluent Americans pay more for everything, including car insurance. A survey by the Consumer Federation of America, or CFA, found that the nation’s five largest auto insurance companies do not make a basic vehicle policy that costs less than $500 a year available in 484 of America’s lowest income zip codes. CFA signaled out GEICO, State Farm, Farmers, Allstate, and Progressive and noted that in 24 large urban centers, there was at least one low income zip code where premiums exceeded $500 a year. In nine metro areas—Detroit, Miami/Fort Lauderdale, the Twin Cities, Tampa/St. Petersburg,...

Judge Rules that Uber Drivers can sue for Employee Status...

A federal judge has made a ruling that could destroy Uber’s business model. Edward Chen, a U.S. District Court Judge for northern California, ruled that Uber drivers have the right to file a class action suit challenging the company’s classification of them as contractors rather than employees. Need more law firm clients? Create an account and earn up to 15% bonus on funding. If the suit were to go forward, up to 160,000 current and former Uber drivers in the Golden State could sue the company for wages, unemployment insurance, and benefits they would have been owed as employees, Fortune reported. That could cost Uber untold billions of dollars because it would have to pay the drivers minimum...

Judge Rules that Uber Drivers can sue for Employee Status
posted on: Sep 5, 2015 | author: admin

Uber and Ford to Test Self-Driving Cars in Arizona...

Uber and Ford Motor Company (NYSE: F) have apparently entered into an alliance to test self-driving cars and advanced mapping technology in Arizona. Fortune reported that Uber and the University of Arizona’s College of Optical Science will test Ford Fusions equipped with next generation mapping and autonomous driving technology in Tucson. Hiscox Small Business specializes in customized insurance for engineers. Fortune writer Kirsten Korosec thinks the vehicles will be self-driving because Arizona governor Doug Ducey has signed an executive order that will allow the testing and operation of autonomous cars in Arizona. The order makes sense because several companies, including Ford, have proving grounds for vehicles in Arizona. The new alliance could take the place of one Uber...

Uber and Ford to Test Self-Driving Cars in Arizona
posted on: Sep 3, 2015 | author: admin

Some Actual Proof that Uber Makes Money...

There’s some really astounding news out of New York, folks; there is some actual proof that Uber really makes money. New York’s Metropolitan Transportation Authority (MTA), the organization that runs the subway, commuter trains and buses in the Big Apple, is losing around $1 million a year because of the business networked transportation solutions like Uber and Lyft are taking from the city’s taxis. Hiscox Small Business specializes in customized insurance for IT professionals. The lost revenue is from a 50¢ surcharge the MTA places on all taxi fares in New York City, The New York Post reported. Since the charge is only imposed on vehicles with cab medallions, Uber, Lyft and Sidecar rides are exempt. An organization...

Some Actual Proof that Uber Makes Money
posted on: Sep 2, 2015 | author: admin

Tesla, Audi Prove That Electric Car Is Viable...

It is now official. Electric cars now exceed traditional vehicles in performance. The latest version of Tesla’s Model S—the P85D—was so impressive that it “broke” Consumer Reports’ rating system. Our new customers report average savings of $522 on car insurance! Click Here! The P85D earned a score of 103 in Consumer Reports’ road testing because its performance exceeded the standards the organization uses. The ratings numbers normally do not go past 100, but the testers had to raise them for the Tesla. Presumably, that means its performance exceeded that of all the gasoline- and diesel-powered vehicles on the market. The P85D’s performance is so great that Consumer Reports did not know how to evaluate it. That seems to...

Tesla, Audi Prove That Electric Car Is Viable
posted on: Aug 28, 2015 | author: admin
Apple Could Begin Self Driving Car Test Soon

Apple Could Begin Self Driving Car Test Soon

posted on: Aug 22, 2015 | author: admin

Apple Inc. (NASDAQ: AAPL) could be poised to start testing a self-driving car in the San Francisco Bay Area in the near future. Our friends at The Guardian reported that Apple has entered into a deal to test vehicle applications and technologies at GoMentum Station in Concord, California. GoMentum Station is a heavily-guarded, autonomous vehicle testing center operated by the Contra Costa Transportation Authority at the old Concord Naval Weapons facility just east of Oakland. Its operators claim it is the largest facility in the world for the testing, validation, and commercialization of connected-vehicle applications and autonomous vehicles. Apple Has Arranged to Use Car Testing Facility It should be noted that the facility the University of Michigan operates in Ann Arbor is actually larger at 32 acres. There are 20 miles of paved highways (old runways) and streets at the facility, which is familiar to fans of Mythbusters; episodes...

Making a Driver an Employee Could Cost Uber Thousands a Year

Making a Driver an Employee Could Cost Uber Thousands a Year...

posted on: Aug 17, 2015 | author: admin

NerdWallet has just exposed how unrealistic and unsustainable Uber’s business model really is. The website crunched a few numbers and discovered that it could cost the service $5,500 a year to provide benefits for a driver in six major American cities if those people became full-time employees. Our new customers report average savings of $522 on car insurance! Click Here! To make matters worse for the service, it would probably owe the average driver thousands more in mileage reimbursement. NerdWallet noted that drivers would be owed paid holidays, health insurance benefits under Obamacare, and more, including unemployment insurance. In other words, it could quickly cost Uber a fortune if it started having to treat its drivers as employees rather than “independent contractors.” There were around 162,037 Uber drivers in the United States that completed four or more trips in December 2014, according to an Uber driver data report quoted...

Self-Driving Vehicles Booming

Self-Driving Vehicles Booming

posted on: Aug 10, 2015 | author: admin

There’s a surprising boom in vehicle engineering and autonomous cars going on right now. News reports indicate that companies are investing a vast amount of money in new automotive technology much of it related to self-driving cars. Hiscox Small Business specializes in customized insurance for engineers. Some of the most interesting and intriguing developments in the field include: Volkswagen (OTC: VLKAY) – The world’s bestselling brand of auto is setting up a centralized engineering and product development center in Chattanooga that will employ up to 200 engineers, USA Today reported.   The privately-held Uber has set up a robotics research center in Lawrenceville, Pennsylvania, and is hiring robotics researchers away from Carnegie Melon University to staff it.   The University of Michigan has unveiled a 32-acre autonomous car testing facility in Ann Arbor. The state of Michigan spent $6 million on the facility. Ford (NYSE: F), General Motors (NYSE:...

How Self-Driving Cars Could Increase the Number of Uninsured Motorists

How Self-Driving Cars Could Increase the Number of Uninsured Motorists...

posted on: Aug 8, 2015 | author: admin

Disruptive technologies often have unforeseen effects; for example, computers, which were supposed to bring us the “paperless office,” actually increased the amount of paperwork by making printing easier. Hiscox Small Business specializes in customized insurance for engineers. Something similar could happen with self-driving cars, which are supposed to drive down auto insurance premiums by making the roads safer. The widespread adoption of such vehicles could increase insurance premiums for some and greatly increase the number of uninsured motorists. Many observers, including Allstate (NYSE: ALL) CEO Tom Wilson, think autonomous cars will make the roads far safer by greatly reducing the number of accidents. The idea here is that most crashes are caused by driver error or bad driving, which autonomous cars would eliminate or greatly reduce. The hope attached to this is that vehicle premiums would fall because the number of accident claims would be much lower. In particular,...

Self-Driving Cars Are Almost Here: Is the Insurance Industry Ready?

Self-Driving Cars Are Almost Here: Is the Insurance Industry Ready?...

posted on: Aug 5, 2015 | author: admin

Tesla Motors (NASDAQ: TSLA) is about to offer highway auto steering and parallel autopark capabilities in the software package for its popular Model S sedan in all regions. Elon Musk himself confirmed this development in a recent tweet. Big Savings On Your California Auto Insurance Today! Click Here For Your Free California Car Insurance Quote! “Almost ready to release highway autosteer and parallel autopark software update,” Musk told his followers on July 31. He also confirmed that autopark will be released to drivers in all regions. This means that self-driving cars are almost in our driveways. It also sending shudders through the highly lucrative auto insurance industry, Bloomberg Business reported. Even Warren Buffett, whose Berkshire Hathaway (NYSE: BRK.B) owns the iconic GEICO, has taken notice of the potential havoc this disruptive technology could wreak on insurers. The Insurance Industry Is Scared to Death of Self-Driving Cars “If you could...

Uber Now Leasing Cars

Uber Now Leasing Cars

posted on: Aug 1, 2015 | author: admin

Uber is moving deeper and deeper into the world of financing. The network transportation giant has launched a car leasing program called Xchange Leasing as an alternative to the financing deals in which Uber drivers buy vehicles directly from manufacturers. Uber and Westlake Financing are offering car financing for drivers through the vehicle solutions program. Free 1 step auto loan application The leasing option, called Xchange Leasing, is administered directly by an Uber subsidiary, and it is more flexible than a traditional lease. A driver will be able to return cars with just two weeks’ notice without additional cost. Uber will also apparently cover the maintenance costs for leased vehicles. Xchange Leasing is apparently only available in Los Angeles, San Francisco, San Diego and parts of Maryland and Georgia. It sounds like a pilot program that will soon be rolled out nationwide and perhaps worldwide. Ford, GM, Toyota, Nissan,...

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