Members of the Rhode Island House of Representatives have submitted a pair of bills this session that would bar insurance companies from taking into account a consumers education level, homeowner status and credit history when determining how much to charge for a policy.
House Bill 7411 would enact the credit-history ban, while House Bill 7193 would take care of education level and homeowner status.
All of the representatives who introduced and co-introduced the bills are Democrats.
Rhode Island is only one of many states where legislators have pushed to ban insurers use of credit scoring in recent years, but practically every one of those pushes has failed.
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Soaring amounts of car insurance premium has forced many people to drive uninsured cars. However, dodging the authorities will now be a difficult task. As per the new laws, driving and owning uninsured cars will be a criminal offence and strictest of punishments being handed out. There are ways one can cut down on the insurance amount and following the same can reap early benefits. Some are listed below:
The general observation states that the insurance companies think differently when it comes to high end cars. They do not fascinate the same way you do about such cars. And it is not uncommon for them to charge higher while insuring such cars.
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Allstate Insurance has filed a lawsuit seeking reimbursement of more than $1.1 million from 16 New York State individuals and medical companies it claims were illegally run by people with no medical training and were involved in submitting bogus claims for payment of personal injury protection (PIP) benefits.
A complaint filed in federal district court on Dec. 30 claims that a chiropractor, a layperson and three professional medical corporations that had been incorporated under false pretenses, wrongly identifying a medical doctor as their owner, turned in dishonest bills to Allstate, according to the coverage provider.
Allstate claims the companies were actually owned and controlled by individuals with no background in the medical field, rather than by licensed medical professionals, as is required by state law.
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Turns out driving habits and modifications aren’t the only factors knocking up car insurance premiums. A poll by Confused.com has found that insufficient tyre maintenance is another headache to be added on your things-to-do list for a successful premium.
The study claims that bald or defective tyres could set you back by as much as 10,000 pounds and a denial of your car insurance claim. Adding to the sorry figures, you could also be hit with three penalty points, which will only keep adding up every time you are caught.
Starting with a fine of 2500 pounds and three penalty points, the fines will simply keep mounting, reaching apoplectic sums of 10000 pounds.
However, the deplorable truth, as revealed by the survey, is that almost 60% of UK drivers stay nonplussed about the correct tyre depth, 1.6 mm. I
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Minnesota regulators say the state’s insurance providers have paid out $64 million on damage claims—including about $2.25 million involving auto policies—filed in the wake of a tornado that tore through Minneapolis in May.
Those settlements account for about 80 percent of the adjusted claims filed in the aftermath of the storm, according to the state Department of Commerce. Another 920 claims—estimated at $8.7 million—have yet to be processed, but are expected to be paid, officials said.
The twister that struck north Minneapolis on May 22 was part of an outbreak of tornadoes over Midwestern and Southern states that caused at least 177 deaths and an estimated $6.5 billion in insured losses, according to the National Oceanic and Atmospheric Administration.
As of Oct. 1, Minnes
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