01Mar 2023 by Charles E. Price
YAFO launches 2022 ‘Driver Mo’ report on vehicle insurance

YAFO launches 2022 ‘Driver Mo’ report on vehicle insurance

INSURANCE
The Young African For Opportunities (YAFO), an insurance think tank based in Accra, has launched the 2022 exploratory report on motor vehicle insurance experience in Ghana. The 'Driver Mo' report was based on exclusive research based on vehicle insurance advocacy in Ghana. The report is also aimed at stopping alleged police harassment of drivers, and igniting behavioral driver changes by advocating for better vehicle insurance policies that are market-driven and responsive to the needs of drivers. Mr. Nathaniel Dwamena, YAFO Project Lead, told the Ghana News Agency that the report would help transform the motor vehicle insurance industry in the country. The YAFO Founder identified administrative bottlenecks, illiteracy rates among the clients, and the insurance companies as major hindrances to insurance penetration that needed to be addressed so as to…
Read More
17Feb 2023 by Charles E. Price
Price is the top reason why consumers want to drop auto insurance providers

Price is the top reason why consumers want to drop auto insurance providers

INSURANCE
Many Americans who were thinking of dropping their auto insurance coverage said they were motivated by price. (iStock) The majority of Americans who were considering dropping their auto insurance providers cited prices as the main motivator, according to a survey by data company AnalyticsIQ. Fifty percent of respondents who were thinking about dropping their auto insurers reported that their policies were too expensive and 37% said they would switch carriers if they found a better deal. Almost all respondents said they had each of the major policy coverage types including liability, collision, medical payments, personal injury and comprehensive, as well as uninsured and underinsured, the survey said. Among respondents who did not have this particular type of coverage, 37% said they opted out of coverage because it was too expensive.…
Read More
06Jul 2022 by Charles E. Price

What to do before renewing your auto insurance

INSURANCE
Every year, one thing's for certain. If you own a car, you'll have to renew your auto insurance. For many Canadian drivers, they'll shop around once when they first get insurance, then just let their insurance renew automatically without thinking much about it. But if you're one of the many people who aren't going into the office as often anymore, skipping the grocery aisles in favor of online ordering, and are driving less than pre-2020. In general, you should really know that less driving can lead to savings on your auto insurance premiums. To find out if your new driving habits could help lower your premiums, it all starts with one thing: knowing when your policy renews each year. The first thing you need to do is to know your…
Read More
04Jul 2022 by Charles E. Price

Bill hiking minimum car insurance coverage clears Legislature

INSURANCE
New Jersey drivers may have to pay more for car insurance under a bill lawmakers passed Wednesday over objections from some Republicans about affordability. The bill would hike the minimum coverage required for standard car insurance policies and uninsured/underinsured motorist coverage to between $25,000 and $70,000, depending on when a motorist renews their policy. The minimum now required is $15,000. Sponsors of the measure have characterized it as one that would protect consumers, but critics have complained the bill would burden people already struggling with inflation, high gas prices, and other financial stresses. Assemblyman Robert Auth (R-Bergen) urged his colleagues Wednesday to oppose the bill, which would “put our jackboot on the poor driver of New Jersey.” “This is a really, really bad bill, it's really poorly designed, it's really…
Read More