China's Auto Insurance Policy May Lift Profitability, PICC Says
23.02.12
Feb. 16 (Bloomberg) -- China’s decision to allow foreign insurers offer mandatory auto insurance may help local players with “more timely” government adjustments to the base rates for such policies, the nation’s biggest non-life insurer said.
The impact from the opening of compulsory third-party liability vehicle insurance will be “very limited” for local companies, Zhang Xiaoli, Beijing-based board secretary of PICC Property & Casualty Co., said by phone today. Foreign insurers, under pressure from the European debt crisis, aren’t likely to “launch any big offensive,” he added.
Regulators will probably loosen its controls on the premium rates for the compulsory insurance with the entry of overseas companies for such policies, BoCom International Holdings Co. said. An increase in the government’s base rate may help local insurers, who have posted losses from the mandatory insurance.
WBUR Poll: Most Mass. Residents Support State Health Care Law
23.02.12
So you might think this drubbing would rub off on Massachusetts residents, about two-thirds of whom have consistently endorsed the state’s coverage plan since it passed in 2006. Not so. In the latest WBUR poll, 62 percent support the law and 33 percent oppose it.
“Even with all the attention the Massachusetts law has gotten nationally, it really hasn’t driven down support among voters here in Massachusetts,” said Steve Koczela, president of the MassINC Polling Group , which conducted the poll.
The difference between national and local opinions about the law is part politics, part misinformation, and partly a difference of experience, said Robert Blendon, a professor at Harvard Kennedy School. Massachusetts residents are living with the law. Opinions outside the state are based on speculation.
“A substantial share of Americans believe that the national law will fail and they assume that the Massachusetts law, which in their minds is related to this, is not working well either,” Blendon said.
BBC Panorama The Great Car Insurance Swindle 2011 (Ghazanfar Siddique) Part 1 .wmv
BBC Panorama team investigates and goes under cover to expose crash for cash criminal gangs headed by Ghazanfar Siddique
If i take out a short term car insurance cover (28 days) Will I gain 1 years NCB?
Sep 24, 2008 by eyeball_999 | Posted in Insurance & Registration
I had an accident 6 weeks after I renewed my car insurance, if I was to get a short term cover (from norwich union etc..) for 2 lots of 28 days (renewing it after the first 28 days) would I then gain 1 years NCB?
The only reason i'm asking is because the cost of renewal last year was £450, this years renewal the cheapest I found was £1300!!!
No.
You will get one year's No Claims Bonus after having a valid insurance policy for 12 months, without making a claim.
Twisted_Ace | Sep 24, 2008
No - that would be silly every new driver would do it.
katt121 | Sep 24, 2008
How exactly does 2 x 28 days equal a Years NCD?
Fellside13 | Sep 24, 2008
1 years no claims discount is exactly what it states. You have to be insured for 1 whole year before you are entitled to any discount at all. I thought that this would have been obvious.
Tango | Sep 24, 2008
No
oldfart | Sep 24, 2008
No, I don't think so.
Wogney Twotter | Sep 24, 2008
56 days does not equal 365 days!
Bardic | Sep 24, 2008
Car insurance temp cover- I sometimes buy cars and sell them on for a small profit, is there insurance company
Jan 25, 2007 by Trisha | Posted in Buying & Selling
that I can go to and get a 1 day cover for the car I'm going to buy or will it be cheaper to get insurance for myself to drive any car, is this possible, also if I wanted to buy and sell cars all the time do I have to have a special licence to do this? thanks
What people have failed to point out is that the law has changed. At one time of day you could take out fully comprehensive cover and then be insured to drive someone else's car third party fire or theft.
Due to people taking advantage of this and insuring say a Ford Focus fully comp then driving say a Porsche under the third party rule thus saving themselves thousands of pounds in insurance costs.
Most of the insurance companies no longer allow third party use on there policies and others are following suit. And the law has been changed also to plug the loophole. Only insurance companies aren't telling there customers this and like me they find out to there cost too late.
Also it is against the law to sell cars at the road side now,even if it's just a one off and the police are clamping down on rogue traders who do so.
To stay on the right side of the law you require a trading license and insurance. Unfortunately this is going to cost you a lot of money and unless you can swallow the costs or incorporate them into your pricing when selling a car then being a small time dealer isn't worth your while or the heavy fines or even prison sentence you could end up with.
All the best Andrew D
BEANS | Jan 26, 2007
http://www.quotemetoday.co.uk/motortrade .html?gclid=CMnzkLG3_IkCFRkcEAodMgKnQw
used to buy salvage had a dealers policy i could drive any thing try this
Miss Terry | Jan 25, 2007
Trade cover, but it'll cost you a fortune.
Marty | Jan 25, 2007
a traders policy will be cheaper
diddley | Jan 25, 2007
Since you didn't mention what state you are in, it's impossible to answer your question. As a general rule, if you sell more than "X" cars a year, you are a dealer in need of a license, and commercial fleet insurance that will cover any cars you take it for sale until they are sold. Look up the rules for your state, and talk to your insurance agent.
oklatom | Jan 25, 2007
most polices I've had have had a any car clause. i have been with Prudential and the AA. the only problem is although you are insured to any car with the owners permission if the car gets pinched i don't think you can claim. Admiral offer really good rates on multicar polices if you were to insure your main car with them i am sure it would be quite reasonable to add another car for a few days. try phoning them
gina | Jan 25, 2007
Some states will allow you to sell 5 or less cars a year, others 6 to 10, without becoming a "dealer". If you exceed this amount, then you must apply for a dealer's license, which is the same as a business license for a used car salesman or lot.
Check with your DMV and/or Tag/Tax office to find what the limitations are in your state.
Oh, and along with the business license, will come business insurance, taxes, etc. (The same as any small business.)
What you are asking for with the insurance is a floating binder policy. In essence, this covers the car for only the time that you have it for sale. This goes hand-in-hand with the dealer status.
Check with insurance agents in your area and explain what you are trying to do. They will be able to explain if they will insure such a venture.
Good Luck!!
Goyo | Jan 25, 2007
you have to acquire
a licence that covers
all types of vehicle
that your original personal
license covers you to drive
no more no less
and it is limited to driving
or test driving various class(insurance)
vehicles as a temporary test drive only
or driving from auction to forecourt legally
the insurance is set at a level that would cover
the value of vehicles you plan to sell
ie~:second hand bangers insurance would
cost a lot less than brand new aston-martins
infobod | Jan 25, 2007
You can get a traders policy which lets you drive any car.
Bandit600 | Jan 25, 2007
Here's the deal of how it works in Texas. Keep in mind that insurance laws vary from state to state.
If you have insurance on a vehicle and you purchase another vehicle to either replace or 'add on' to the policy you have 30 days to notify the insurance company. So... it stands to reason that:
1. If you buy and sell with in a 30 day period you will be covered with out notifying the insurance company.
2. If you exceed the 30 day limit then you can expect the insurance company to roll over and play dead as you didn't hold up your end of the contract.
3. Wilth the Liability portion you should be covered as long as you continue to pay premiums and the insurance company really can't "play dead" when it comes to liability claims.
4. Collision/Comprehensive (CC) can be a different story. If you get CC on a Honda Civic and your current vehicle is a Cadilac Escalade then the insurance company many not be able to deny your claim completely but they would only have to cover up to the amount that would be expected to be covered on Honda. Total the Escalade and you'll get the replacement cost of the Honda... after all that's what you paid premiums for.
My suggestion... if your buy/sells are over 30 days in between... seek a 'dealers insurance rider', this will be more expensive.. .but will cover your investments. If your deals are less than 30 days... only tell the insurance company WHEN you are in a vehicle that has a higher value that the one currently on the policy. You might find yourself paying premiums on an Escalade but currently driving a Civic.. but at least you know your investment is covered.
It would also be good to find an insurance agent you can trust to tell you the truth. (Remember... agents work for the insurance company... not you.) Talk to the trusted agent about your delima and get their take on the situation.
Good luck and I hope this helps
wrkey | Jan 25, 2007
I am 17 and got in an accident. But I had more than 1 person in the car. Will the insurance still cover this??
Jun 30, 2008 by shanekarolyi | Posted in Insurance & Registration
A provisional license allows one family member and one non-family member. Will they cover it? I have allstate.
That will be up to the insurance company. Did you get ticketed for having additional passengers in the car? the whole idea in limiting the number of passengers you carry is to keep you from being distracted and having an accident after all.
oklatom | Jun 30, 2008
Real surprise, another teenager getting into a car accident. Were you guys even wearing your seatbelts? I really don't know much about what insurance you have. I'm sixteen only a year younger than you, and I'm going to begin driving not too long from now. So you ask will your insurance go up, yes it'll go up. For driving unsafe, and getting into an accident, yes.
aspieoriginal | Jun 30, 2008
They will most likely cover it, but look for a major rate increase or possibly cancellation.
rottendog93 | Jun 30, 2008
Im 21 and need car insurance for 1 day, any ideas who will cover me?
Jan 13, 2010 by Ben Mulligan | Posted in Insurance & Registration
Turning 17 thinking of buying a car (Insurance Cover) [UK]?
Oct 15, 2008 by Mr Smooth | Posted in Insurance & Registration
I’m going to turn 17 soon and thinking of buying a car and really want a BMW. I know I cannot get it because the insurance will be ridiculously high or simply will not insure me so I was wondering if I get a really rubbish car (1 litre or something) and get it Fully Comprehensive this should give me cheap insurance and the privilege to drive another car (so I heard) like my dads BMW and I want to know if this is possible for me and any background information about this will be appreciated!
i was thinking of buying 2 cars..
1 rubbish one wich i will be insured in
and
a good 1 wich will be under my dads name.
Yes you can, just make sure it's in the policy before you buy it. Basically if your dad trusts you enough to let you drive the car then that's good enough for the insurance company. Do bear in mind that you will need the owners permission or the insurance will be invalid. Also it will be third party only, i.e. if you are involved in an accident and you are to blame the insurance company will only pay out to the other party, you or your dad will have to stump up the money to get his car fixed.
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