Global warming no hoax to insurance companies - MarketWatch
NEW YORK (MarketWatch) — When it comes to global warming, it’s a tough call deciding whose hot air to believe: Al Gore or those AM radio right-wingers who call it hoax.
Me? I go with the insurance industry. If anyone is going to feel a rise in global temperature — and the destructive weather it causes around the planet — it’s the people who have to pay for the damage.
Recent storms have given used-car buyers nationwide a new reason to be cautious. Kelli Grant explains why on Lunch Break. “AIG was the first U.S.-based insurance company to adopt a public statement on the environment and climate change, recognizing the scientific consensus that climate change is a reality and is in large part the result of human activities that have led to increasing concentrations of greenhouse gases in the earth’s atmosphere.” — Chartis, a subsidiary of American International Group Inc.
AIG -3.99% “The earth’s climate appears to be changing in ways inconsistent with the historical record upon which catastrophe models draw data.” — ACE USA “Climate change could cause reduced loss predictability.” — RiverSource Life Insurance Co. of New York “Commercial, residential, and marine property classes may be at risk because of climate change.” — General Reinsurance, a Berkshire Hathaway Inc.
Fleeing Hurricane Irene?: Here’s what to take - USA Today
If you think escaping Hurricane Irene is as easy as jumping into your car and stepping on to the gas, think again. You'll want to do a little preparation if you found yourself in the Outer Banks, Long Island or elsewhere along the hurricane's path.
Fill the gas tank . Anytime everybody is being told to leave the same time, the last place you want to be in the 137th car in line for gas. And that's if the gas station attendants haven't hightailed it as well. Probably not the safest idea to carry a bunch of portable plastic tanks like Joe McQueenie in West Ocean City, Md., in the photo above.
Maps . Consumer Reports has a good point on this: Have paper maps with you, including an evacuation route printed from your state government's website, because you can't count on your normally reliable GPS navigation system.
Take pictures . This goes for the car, as well as the house. Snap a few before pictures in case you need to prove damage was caused by the storm.
Fleeing Hurricane Irene?: Here's what to take - USA Today
Another view: Steer clear of cars that spy - USA Today
Now car insurance companies want you to install a new device in your car so they can track how you drive and when you drive. The companies say this could reduce your insurance rates, but there is more to the story.
The data that are collected by the insurers don't stay with the insurers and won't be used only to calculate rates. Police could get access to your driving habits, as could state agencies.
Most critically, these data could be used in claims disputes by the insurer and others against you. That means that the auto insurer's "black box" in your car could become Exhibit A in a case against you.
Collecting better data about accidents is important for auto safety, but fairness remains a critical concern if drivers are told they have to accept the determination of an insurance company. One survey of nearly 700 crashes involving vehicles with manufacturer-installed "event data recorders" (similar to the devices insurers want to put in cars), found that there were problems retrieving the data in almost 40% of the cases.
Another view: Steer clear of cars that spy - USA Today
Let State Farm spy on your driving, get cheaper insurance - USA Today
State Farm is rolling out a new plan that offers car insurance discounts for letting them use an in-car device to monitor your speed, acceleration, braking, and other habits for safety.
The program -- using Hughes Telematics' "In-Drive" aftermarket communications device -- expands State Farm's current "Drive Safe & Save" plan with OnStar (offered in five states) that monitors only your mileage. In-Drive has a module that plugs into the car's diagnostic plug and a transmitter that clips to the visor. The program will start first in Illinois in September and expand next year.
It say those who volunteer will save about 10% on liability, medical, collision and comprehensive coverage, reset at each 6-month renewal. It says cuts may go up to 50% "based on how safely a person drives, when they drive, and how much they drive" (i.e. is it less that the U.S. average of about 12,000 miles).
State Farm says the website will let customers know where they stand at any time with their discount stands and what factors have determined it. It also says the site will offer personalized tips on what the customer can do to max their discount.
Let State Farm spy on your driving, get cheaper insurance - USA Today
Automatic braking in cars helps cut down on crashes - USA Today
HERNDON, Va. — It's one of the coolest video games around, but it is not available online or at stores. It's Audi's just-out A6 and a million-dollar computer simulator that has the car bouncing off of lane lines and slowing before it crashes into the car in front — without any input from the driver. Warning lights alert when cars are in the blind spot and flash furiously if the driver appears ready to steer into them.
Careening around even the simulated Bavarian mountains would be more daunting if the A6 weren't equipped with all of the latest advanced safety technologies. You almost can't crash during some maneuvers in this would-be video game, which Audi showed off recently at its headquarters here. Even when you do rear-end another car, your belt cinches up, windows and sunroof close and your speed slows enough that, at least virtually, you're far safer than you would have been without what's known as precrash sensors.
But these technologies are hardly automotive fantasies. Many, including intelligent braking that stops — or at least slows — cars if drivers don't act, are already on high-end vehicles including Audi, Lexus and BMW models and are trickling down into more affordable cars, including several by Chrysler.
The first real-world evidence that these brakes are keeping people from crashing is being released today by the Insurance Institute for Highway Safety. IIHS found that a version of automatic braking in Volvo SUVs prevented one out of four low-speed crashes. That's likely to speed up installation of similar technology in other vehicles and should help persuade regulators to consider rules to require automatic braking, some safety experts say.
Automatic braking in cars helps cut down on crashes - USA Today
GM tests offering free auto insurance to new-car buyers - USA Today
Out in states like California, uninsured motorists remain a serious problem. So General Motors is involved in an experiment in two states that could help insure more drivers.
The test is taking place in Oregon and Washington, where drivers who take delivery of a new GM vehicle will receive a year-long insurance policy from MetLife at no additional charge.
The policy includes both liability and physical damage coverage and exceeds requirements in the two states. The deal applies to 2010, 2011 or 2012 Chevrolet, Buick, GMC or Cadillac car, truck or crossover and is only good on purchases through Sept. 6. But hey, it's a start.
While we see it as a plus for public safety and individual responsibility, GM views its offer as having a more direct effect: It may bring in buyers by making cars more affordable.
GM tests offering free auto insurance to new-car buyers - USA Today
92% of business travellers don’t understand car hire insurance - Easier (press release)
Many business travellers are confused by car hire insurance which is putting their companies at risk of high insurance costs or high penalty fees being added to expenses claims, says a leading online insurance company, iCarhireinsurance.com, following the results of a survey it conducted with YouGov.
The survey of people who had hired a car for business travel revealed that 92% of business travellers did not realise that if their hire car was damaged or stolen in Europe, even if it wasn’t their fault, then they would be liable for the first part of a claim i.e., the excess amount of up to £1500. That is 92% of people leaving themselves, and therefore their company, liable for up to £1500 every time they hire a car for business.
Excess insurance can be bought to protect drivers from this, but the cover available at the car rental pick-up desk is expensive at around £16 a day, compared with just £2.99 a day from iCarhireinsurance.com. The survey revealed that 17% had been scared into buying extra insurance at the car rental pick-up desk, with over seven out of ten business travellers (76%) not knowing that they could buy excess insurance from providers other than the car rental company. And indeed the vast majority, over half (57%) also did not know that this insurance is significantly more expensive than they could buy elsewhere.
There was also widespread ignorance about what excess insurance did and did not cover with eight out of ten business travellers (80%) not knowing that some excess insurance doesn’t include damage to windows, tyres, roof or undercarriage or driving within 150 km of home. Nine out of ten business travellers (94%) also did not check the small print to find out the cost of lost keys or short notice cancellation. With many contracts, the hirer can be charged up to £300 for lost or stolen keys and up to 50% of the contract plus costs for last minute cancellations.
92% of business travellers don't understand car hire insurance - Easier (press release)
Chevrolet’s 100 Year Celebrations At The Goodwood Festival of Speed - carpages
At the 2011 Goodwood Festival of Speed, Chevrolet celebrated their 100th birthday with a large stand and a number of events and debuts for visitors.
Alongside the new 5 door Chevrolet Cruze hatchback's public launch, the all new Chevrolet Aveo (due in the Autumn), the new Chevrolet Orlando and Captiva models were also on show.
The USA Car of the Year, the electric Chevrolet Volt also made its UK debut, as did the European specification Chevrolet Camaro in both coupe and convertible forms.
The Corvette ZR-1 and Chevrolet Camaro both took on the Goodwood hill Climb, driven by British Touring Car champion Jason Plato, joined by the Chevrolet Volt.
Chevrolet's 100 Year Celebrations At The Goodwood Festival of Speed - carpages
Car Hire Drivers in a Spin About Car Hire Insurance - Marketwire (press release)
Many British travellers are confused by car hire insurance which is putting them at risk of high penalty fees says a leading online insurance company, iCarhireinsurance.com , following the results of a survey it conducted with YouGov.
The survey of 1103 British people who have hired a car, revealed that a sixth (15%) of respondents believed they had driven a hire car without fully understanding exactly what insurance they had and what they were covered for, but in reality the number is significantly higher than this.
89% did not check it for costs incurred in the event of a short notice cancellation. With many contracts, the hirer can be charged up to £300 for lost or stolen keys and up to 50% of the contract plus costs for last minute cancellations.
When travellers reach the car rental pick-up desk (and have got to the front of the queue), they are often faced with the prospect of an additional bill of around £18 a day* to purchase "excess" insurance (adding approx £252 to the cost of a two week holiday) as well as additional insurance for key cover and personal belongings.
Car Hire Drivers in a Spin About Car Hire Insurance - Marketwire (press release)
One state dominates Top 10 hottest places for car theft - USA Today
If you live in many parts of rural California, you better remember to lock your car doors. You're in the thickest territory in the USA for car thieves.
The National Insurance Crime Bureau just issued its list of the Top 10 areas for car thefts in 2010 and the top three are all in California's central valley -- that's a San Joaquin Valley area above.
In fact, eight of the Top 10 metro areas for car theft are in California. All but two are in rural areas. One is Sacramento and environs, in 6th place, and San Francisco/Oakland, in 9th place.
The good news is that the bureau says for the seventh-consecutive, car thefts are dropping. The FBI's preliminary 2010 crime statistics published last month indicate a 7.2% drop in vehicle thefts from 2009. If that estimate holds when the final statistics are published in the fall, it would result in the lowest annual vehicle thefts since 1967.
One state dominates Top 10 hottest places for car theft - USA Today