Renee Darata » Commercial Auto Insurance

Insurance Rates to Rise by 2012?

Renee Darata — Fri, 04 Mar 2011 23:59:27 +0000

Insurance companies have 2 ways to make money. Through the premiums charged to consumers and businesses and also through the income made on reserves they have on hand to pay out catastrophic claims.

Reserves have declined for some carriers which will require them to raise insurance premiums to rebuild reserves.

Some analysts predict about a 10% increase in 2012. Rates have declined for several years now and insurance companies will tighten up underwriting guidelines, get out of some lines of insurance and raise rates.

Commercial Auto Insurance

Renee Darata — Wed, 09 Dec 2009 00:45:03 +0000

I had a call today for an auto insurance quote. I learned that one of the vehicles was being used for deliveries.

This vehicle would have to be written as a commercial auto insurance policy.

If they were insured under a personal auto insurance policy, the claim could be denied for misrepresentation.

Make sure the agent knows how the vehicle is being used. Many people don’t understand that a vehicle used for business purposes must be insured for that usage.

RENEE DARATA-your personal insurance agent