By Jeff Cline
Periodically the Auto Insurance marketplace is changing from soft to hard. An excellent example for this is the present situation of the insurance market in United States. Relaxed rules and reduced rates are indication of soft market that have existed in the market for the past years and now hard market exists.
The policy in meeting the criteria are rigorous and the charges are rising. Many customers are experiencing an increase in rate. In 2010 the market will be more demanding for US drivers keeping or minimizing the rates in shopping and switching companies. In US, every state is now shifting from hard to soft markets occasionally.
Counterfeit is the main offender causing for the market in US to have difficulties. To help the companies recompose they are regulating rates and rules. Protective injury Property focus on the fake claims in US that cause the difficulties in car insurance. The states oblige you to pay the coverage for $10,000.
Usually PIP pays policy holders and their household residents for bodily injuries after an accident. Regardless of fault in an accident policy holders in US receive the PIP benefits. The contributing factor is fraud in a hard market for any state.
Consumers are expected to increase investigation when buying a new car insurance policy during a hard market. For PIP policy a photo ID for applicants to verify identity is needed. Insurance companies can conduct phone calls to policy holders to check the application information.
To combat fraud, varieties of new measures are being taken by most companies. The present situation will persist but once fraud is reduced and the condition of the market will change.
In 2000-2001 the car insurance market experienced difficulty in US and now the same is continuing. This is the time when insurance companies experience their share of industry from opponents. If the companies are able to maintain their rate while the market is having difficulty surely they will increase the number of new clients. This will be able to lower the insurance cost in the long run and people will be able to find the institution even in such hard situation.
You must learn to shop thoroughly in order to get the best deal in your car insurance. US drivers particularly in Florida must expect a rate increase at the next Auto Insurance renewal. Fraud connected with PIP coverage has always been challenging and is on the rise.
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Topics: Insurance | Comments Off
MLA Style Citation:
Cline, Jeff "Finding Car Insurance." Finding Car Insurance. 21 Jun. 2010. uberarticles.com. 5 Aug 2014 <http://uberarticles.com/automotive/insurance/finding-car-insurance/>.
APA Style Citation:
Cline, J (2010, June 21). Finding Car Insurance. Retrieved August 5, 2014, from http://uberarticles.com/automotive/insurance/finding-car-insurance/
Chicago Style Citation:
Cline, Jeff "Finding Car Insurance" uberarticles.com. http://uberarticles.com/automotive/insurance/finding-car-insurance/
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