High Gas Prices = Fewer Accidents

How many times has this happened to you? You have a bag full of your favorite candy. It’s set in a drawer next to you, or your kitchen, or by the computer. When the bag is full you splurge your candy. To you it’s full and it will stay full. Then one day, you pull open your drawer, pull it out and *gasp* it’s light. Too light. Now you start to spread it out as thin as you can. You don’t grab handfuls, but instead, grab a piece or two and put it away. You become very protective of it and even stop sharing with your co-workers (they’re animals). Interestingly enough, today’s economy is having that same effect on the way we use our cars.

FIVE DOLLARS! That’s the forecast for mid this year and if you’re like me, we’re dreading the pump so much that we’ll do anything so that the needle, that devilish thing that taunts us as it drops slowly but surely, stays up and takes its time on it descent. Yet, alas, there is a silver lining behind it all. What happened with your candy as its supply ran short? You were more careful with it, right? So too will you be with the way you drive and your gas consumption.

A study done by the Mississippi States Social Research Center compared gas prices with traffic stats from April 2004 to December 2008. The study showed how there was a short term effect on young drivers and an intermediate effect on older drivers. People react by making less unimportant trips or by simply doing everything they need on the way back home to reduce traveling. There was even an effect on drunk driving and if you think about it, it makes sense. What you would spend on booze is now filling up your car to get you back home or to work.

P.S. At CWI Underwriters you don’t have to drive to us to save on you policies. That would kinda be an oxymoron. We’ll take care of you over the phone or by email…telepathy available soon.

Which cars get the most tickets?

I came into work this morning.. opened my computer and the first article that pops up is this one… which cars get the most tickets? What’s funny is that Mike (our auto specialist) is currently buying a new car and it’s on this list! Check to see if you car made the list… and if it is… drive slowly from now on!

http://articles.moneycentral.msn.com/Insurance/InsureYourCar/which-cars-get-the-most-tickets.aspx

Hired and Non-Owned Auto, what does it cover?

Do you own a business and currently do not carry hired auto liability coverage? Here’s a little help with understanding what is covered under the hired non-owned coverage:

Hired and Non-Owned coverage will pay for damages to a third party, on behalf of your company, if you cause an accident or an injury to someone while you are driving a rented car or “non-owned” vehicle for business. For example, if you rent a car to visit a client, and cause an accident on the way there, the person you hit will look to your company to pay the damages. Without this coverage, your company may have no insurance coverage for a rented car. Another example would be if you send your employee to run an errand for the business, in THEIR vehicle, like get breakfast for the morning meeting, go to the bank, pick up some office supplies. This part of the policy will cover that type of loss.

Personal auto insurance coverage is primary, but it does not cover the owner of the business if sued. Unless company employees use public transportation for all business needs, hired and non-owned insurance is a necessary part of any commercial insurance program.

We here at CWI Underwriters have several companies that we can place your Hired and Non-Owned policy with along with all of your other Commercial insurance needs. Please give us a call to discuss your options. 888-636-6438.

Ever wonder how auto insurance claims are paid?

In the state of Florida, claims are paid as follows:

1.   Personal Injury Coverage (mandatory; a.k.a. “No Fault”) – covers up to $10,000 of medical bills (80% of your own medical bills and 60% of your own loss wages and a $5,000 benefit for funeral expenses, all inclusive with the $10,000 limit)

2.   Medical Payments (optional coverage) –  covers you, other members on auto insurance agreement, passengers in insured vehicle (regardless who is at fault),  and pays for your medical bills after PIP is exhausted.  (Food for thought: Adjusters will mandate monies paid for doctors bills with this coverage first, IF you suffer wage loss, giving PIP coverage more leisure to pay for your wage loss benefit.)

3.   Liability Coverage (Bodily Injury and Property Damage) – if you cause damage to a person and/or their property this will be covered depending on the policy limits  you choose; this does not include your own injuries nor property.

4.   Uninsured/Underinsured Motorist Coverage protects you and other drivers in household and/or under insurance policy  in case another driver causes you bodily injury and does not have enough coverage, or no coverage, to pay your medicals bills and loss wages in a not at-fault accident.  If you have health insurance, some companies may cover this in lieu of owning said coverage or after insurance claims have been exhausted through the auto insurance company.  Check with your healthcare network provider to assure coverage.

Here at CWI Underwriters  we pride ourselves in representing companies that have the best claims service in town. Located in the Plantation, Fl area, yet offering competitive auto insurance to the entire state of Florida, give us a call! 888-636-6438 or check us out online at www.cwiunderwriters.com

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Welcome to CWI Underwriters blog! We are excited that you have chosen to let us keep you updated on the lastest news in the insurance industry. This blog will contain information beneficial to you and your pocket! We will discuss how to save money on your insurance policies such as your home, auto, flood, and any type of business insurance you may need. Please feel free to comment and let us know what you think and what you’d like to read about!