How To Kill Yourself

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How To Kill Yourself

First Hand Footage Of The Massive Gas Explosion in Tianjin, China

Watch First Hand Footage Of The Massive Gas Explosion in Tianjin, China now. Also, surf around Break to find the funniest videos, pictures and ... How was he rewarded for his disloyalty after nine years? With savings of about $300 a year and a boost in his under-insured motorist coverage. Despite discounts for long-term customers, studies show that you can get lower premiums on car insurance by shopping around rather than sticking with one company, and the savings can be significant. The Texas Office of Public Insurance Counsel did a study showing that a consumer who has stuck with the same auto insurer for eight years could reduce the premium by 19 percent by switching. "It is disappointing to think your loyalty to a company can hurt you," says Carol Lachnit, features editor for automotive website Edmunds.com. Even when rewarding loyalty with a percentage off, insurers may use a practice called price optimization that considers a number of factors beyond risk, including what price tag they think you will tolerate. "They're sort of measuring how likely you are to resist a price increase to your premium," Lachnit says. Still, many consumers stick it out. Jonathan Stein, for one, has only had three car insurers in his adult life. "I did get a loyalty discount, but each time I switched, it was because I received better coverage for less money," he says. Others take a different view. Linda Carlson has stuck with USAA for more than 10 years because of what she considers exemplary customer service. The Seattle resident ticked off a series of accidents and other problems over the years, including a crash, and how pleased she was with the way USAA handled them. Her husband has used the company since 1970. Other customers are simply lulled into staying. A recent survey by customer satisfaction measurement company J.D. Power and Associates found that even though auto insurance rates increased by 2.1 percent last year and 2.5 percent in 2013, a relatively small percentage of customers switched carriers. About 39 percent of those surveyed said they did check on other insurers' prices, but just over a quarter of those who price-shopped actually switched. "You have to look at your own pocketbook and your own budget and decide," Edmunds.com's Lachnit says. SHOP AROUND Lachnit says it makes sense to shop around every few years. It is important, though, to keep a list of your coverage in front of you to be sure you are comparing apples to apples. Also keep in mind that not every insurer offers the same level of service or enjoys the same reputation. It is worth checking on the complaint history of a particular company through your state's insurance commission, she says. A list is available (www.naic.org/state_web_map.htm) through the National Association of Insurance Commissioners. If someone offers you a better rate and you would rather not switch, Jeanne Salvatore, vice president of the Insurance Information Institute, says it will not hurt to go back to your insurer and let them know about the lower quote. Auto insurance it not the same as a lot of industries that routinely haggle with customers, but there is no harm in trying, she says. The only consumers who might not benefit from comparison shopping are those with bad driving records because they will have fewer choices, Salvatore says. She recommends asking for every available discount, whether you are staying or going. These include such things as bundling multiple policies, good driving records, certain vehicle-safety features, paying in a lump sum, being a student with good grades, and belonging to certain membership or affinity groups. (The author is a Reuters contributor. The opinions expressed are his own) (Editing by Beth Pinsker and Lisa Von Ahn)
When Jonathan G. Stein became unhappy with his long-time car insurance carrier earlier this year, the 41-year-old lawyer from Elk Grove, California switched to a new company.

Do You Have the Right Car Insurance?

Car insurance is inherently tricky to navigate because you don't find out just how well it works (or doesn't) until you have an accident. And if you're lucky, that doesn't happen too often. So how do you know if you have the right kind of car insurance for your budget and lifestyle? U.S. News interviewed a handful of car insurance experts to find out what you should do before making a final decision on your policy in order to get a good deal and decrease the chance of being surprised by unexpected costs after an incident. Here's their best advice: When choosing a policy, start by asking friends for recommendations. "It always makes sense to first ask people who you respect who they have auto insurance with, and if they were happy when they had a claim," says Jeanne Salvatore, spokeswoman for the Insurance Information Institute, an industry group. [See: 10 Unexpected Costs of Driving.] Strangers can also offer useful advice. People often take their complaints about car insurance to social media, blogs and other websites. Search for posts on Twitter using the hashtag for the company you are considering. The National Association of Insurance Commissioners and the Center for Insurance Policy and Research makes it easy to find formal complaints that have been lodged against companies as well. State buyer's guides are another resource. States release detailed guides for purchasing auto insurance that explain the ins and out of property damage as well as collision and comprehensive coverage. "Get the buyer's guide – don't just go to some agent," recommends Bob Hunter, director of insurance at the Consumer Federation of America. Those buyer's guides also outline the minimum required coverage and what factors influence your insurance rates, from driving records to how you use the vehicle. When comparing policy prices, be sure to compare similar policies, cautions Phil Reed, senior consumer advice editor at Edmunds.com. Auto policies vary by length of time, level of service and an array of add-ons, he says. Instead of just searching the Internet to compare quotes, Reed recommends getting on the phone with companies and asking questions, too. Certain car safety features, such as alarm systems or anti-lock breaks, can help lower your rate. [Read: Blue-Collar Workers Pay More for Car Insurance.] At the same time, there's no need to obsess about constantly chasing a better deal. Jeff Blyskal, senior writer at Consumer Reports, says when the magazine asked readers to try to get a better deal with a competing insurance provider, only 12 percent of respondents were able to do so. That's despite the slew of auto insurance advertisements that would have you think a better deal is always just around the corner. Once you've settled on an insurance provider, you'll have the chance to consider various add-ons to your policy. In general, the more you pay upfront, the greater the coverage you'll have. For example, you can opt for a higher deductible in order to minimize your rates – probably a good move for anyone who considers themselves a careful driver and can afford the higher deductible in the event of an accident. You might also want to consider rental coverage. Auto insurance policies often allow you to add on coverage for renting a vehicle while your car is getting fixed after an accident, and if you only have one car, that kind of coverage can pay off. "Every customer who didn't have rental coverage wished they had it," says Richard Arca, senior manager of pricing at Edmunds.com and a former insurance adjuster. It typically adds about $20 for six months to a policy, he says. On new and leased cars, GAP insurance can also make sense. You've might have heard that when you buy a new car, it loses value as soon as you drive it out of the lot. Leased vehicles also often carry a lower fair market value than what you owe on the vehicle. That means in either of those cases, if you total the car, the insurance company will only reimburse you for the car's fair market value – and you could be out a lot of cash. GAP coverage, which stands for "guaranteed auto protection," safeguards people from that problem. "It's highly recommended for people who lease vehicles," Arca says.

10 car insurance traps

All drivers are legally required to have car insurance, but many people resent what can be a hefty annual expense. The good news, however, is that you can keep costs to a minimum by avoiding some of the most common motor cover traps.

From sticking with the same provider year after year to failing to check the excess, here we highlight 10 motor insurance traps which all drivers should steer clear of...

Trap 1: Thinking that loyalty pays

Many drivers assume that, if they stick with the same insurer year after year, they'll be rewarded for their loyalty with lower premiums. On the contrary. Insurers thrive on our apathy and can bump up premiums each year, even when no claim has been made.

The best quotes are usually given to new customers, so the chances are you'll be offered a more competitive deal if you shop around for cover every year. And even if your existing insurer offers you a lower price than last year, you could probably still save by comparing what else is on offer. So the message is simple: DON'T AUTO-RENEW YOUR CAR INSURANCE!

Trap 2: Buying third party, fire & theft to save money

You might think that, if you buy the minimum level of cover, the premiums will be much lower. But that's not the case - often you can get comprehensive cover for a similar or even lower price than third party fire & theft cover. And comprehensive car insurance will provide you with much greater protection. Again, shop around. 

Trap 3: Paying by monthly instalments

Although paying for your insurance cover upfront can seem more painful financially, it is actually much more cost-effective than spreading the cost by with monthly payments. Insurers usually add steep interest charges to instalments which can dramatically increase the overall cost, so if you can afford to pay the full premium at the outset, you should do so.

One option is to pay your premium in one go using a 0% purchase credit card, where you don't pay any interest on your spending for up to 18 months. You should aim to clear the debt within 12 months though, so you're only paying one insurance bill at any one time. It will also mean you avoid a hefty interest rate on the card balance whenever the interest-free period comes to an end.

Trap 4: Assuming all policies are the same

They're not! Always read the small-print of your car insurance policy as cover can vary widely. Make sure the policy you choose suits your requirements. For example, does yours offer a courtesy car in the event your car needs repairs or is stolen? If not, and you don't have another vehicle or sources of transport available, you could find yourself stuck. Same applies to breakdown cover.

Trap 5: Ignoring the excess

If a particular motor insurance policy seems unbelievably cheap, always check the excess, which is the portion of any insurance claim you must pay yourself. A very high excess can mean much lower premiums, but also that you might struggle to afford to make a claim at all, which defeats the point of having insurance in the first place.

The excess has two parts - the mandatory and the voluntary elements. The former is set by the insurer, you control the latter.

Trap 6: Overlooking telematics

Younger motorists generally have to pay higher car insurance costs than older drivers, but they may be able to reduce the cost of cover with a telematics policy. Here, 'black box' technology monitors the driver's behaviour and habits and rewards safe and responsible driving with cheaper premiums. But be warned, if you aren't confident your driving skills are up to scratch, then you're unlikely to see a reduction in costs. And many telematics policies impose limits of 5,000 or 6,000 miles per annum, rendering them impractical for many drivers.

Trap 7: Not insuring your car because you never drive it

It is a legal offence to keep a vehicle without insurance unless you have notified DVLA that your vehicle is being kept off the road by means of a Statutory Off Road Notice (SORN). You don't have to be driving to be caught. Even if it never leaves the garage, you either need insurance or you need to file a SORN.

Penalties for transgressing this law include a fixed penalty of £100, your vehicle being clamped, seized and disposed of, and a court prosecution with a maximum fine of £1,000.

Trap 8: Trying to save money by putting a parent as the main driver

Falsely declaring another person is the main driver of the vehicle when they aren't is illegal. It is known as 'fronting' and can not only invalidate your insurance but can lead to a fine and penalty points on your licence, so it should be avoided at all costs. However, you can add a more experienced person as a named driver on your policy to help reduce premiums.

This tactic works for pretty much any driver because the insurer assumes the risk of an accident or theft will be reduced if more than one driver has access to the vehicle.

Trap 9: Making unafforable modifications

Tempting as it may be to fit alloy wheels or the latest stereo system in your car, making modifications can have a major impact on your insurance premiums - simply because the vehicle is no longer its original spec. Speak to your insurer if you are planning on making any changes to find out whether it will bump up the cost of cover.

Trap 10: Assuming all policies cover European driving

Millions of people take their cars abroad each year, but not all insurers include European cover in their policies, which could leave you high and dry if you have an accident while you're abroad. Check the small print of your policy before leaving British shores and, if in doubt, check with your provider. If your policy doesn't include European cover, you may be able to add it in return for an extra premium.

MPs target fraud to cut car insurance costs

MPs are demanding a crackdown on fraudulent whiplash claims to achieve further reductions in car insurance premiums.

According to MoneySuperMarket's latest analysis of 42.5 million quotations run on the site between January 2011 and June 2014, average car insurance costs have plummeted by almost £100 in the period, from £505 to £406. They recorded a £5 fall from May to June 2014, reversing a brief upward trend that started in February 2014.

People who switch insurer at renewal, rather than those who automatically stick with the same firm, are usually in line for the biggest savings, making it important to shop around at renewal time.

Members of the Parliamentary Transport Select Committee say there would be scope for further reductions if claims costs could be squeezed further. They cite invented and exaggerated whiplash injuries, inducements paid by solicitors to encourage claims, and insurer willingness to settle claims without medical or legal challenge as areas needing urgent attention.

They also want a funding boost for the police Insurance Fraud Enforcement Department, improved sharing of data relating to fraud, and the creation of independent medical panels to determine the likelihood of whiplash injury, which is almost impossible to prove or disprove from a purely medical perspective.

Insurance in the spotlight

Motor insurance and premium prices are now very much a part of the political agenda, having been the subject of Parliamentary debate, a prime ministerial summit and the catalyst for legislative changes, as well as reports from the Office of Fair Trading (OFT) and the Competition Commission.

A recent government report on the 'dysfunctional' car insurance market pointed out that whiplash claims add around £90 to the cost of every car insurance premium. According to the Association of British Insurers, fraud is setting the industry back about £2 billion a year. It is estimated that this is adding £50 to the price of every insurance policy.

Possible solutions

Among suggestions as to how the problem could be tackled are independent assessment of claimants and aban on referral fees paid by solicitors.

So will this latest report offer up any new ideas that can be put into practice to bring car insurance costs down even further?

Weeding out false whiplash claims

Although insurers continue to work hard to weed out fraudulent claims, the cost of motor-related personal injury claims is still on the rise, even as the number of crashes on UK roads continue to fall.

The Transport Committee report therefore puts particular emphasis on aspects of the market that have 'encouraged criminality to take root' - namely those fraudulent or exaggerated whiplash claims.

To clampdown on the number of fraudulent claims the select committee recommends insurers should be stopped from settling whiplash claims before the claimant has undergone a thorough examination from a genuinely independent medical professional.

Under the current set up, solicitors can commission medical reports on whiplash and other soft tissue injuries from medical experts who could have a vested interest in a positive diagnosis. It's hoped that setting up independent medical panels will reduce or eliminate false or exaggerated claims and put off any opportunistic claimants who may not fancy trying to convince a panel of their supposed injuries.

The Transport Committee also calling for a ban on solicitors offering incentives, such as up-front cash payments or laptop computers, to encourage motorists to claim after an accident.

It is also deeply suspicious of the growing trend of solicitors seeking medical reports into psychological trauma after even minor collisions - something which suggests that unscrupulous firms are looking for new areas in which to generate illicit revenues.

Spurious claims

Kevin Pratt, insurance expert at MoneySuperMarket, said: "At present, it's more cost effective for an insurer to pay out a small personal injury claim, no matter how spurious, than try and prove the injury has been exaggerated or even made up completely, primarily because soft-tissue injuries are difficult to prove one way or another.

"The formation of independent medical panels will go some way to addressing the problem. It should be coupled with a system that sees claims for treatment paid directly to physiotherapists or medical staff in settlement of their bills, and not the claimants themselves."

Clearer insurance policy renewals on the way?

Pressure from consumer groups and the financial regulator has prompted the Association of British of Insurers (ABI) to commit to making car and home insurance renewal notices clearer and more consistent.

The ABI has written to the Financial Conduct Authority (FCA) proposing an initiative which would force insurers to include in renewal notices how much a customer paid for cover the previous year, therefore showing clearly how the renewal quote compares.

It also wants to include mention of first-year discounts, effectively warning policyholders that the price will be higher at renewal.

The ABI wants the changes to be in place by the end of 2015.

'Long overdue'

MoneySuperMarket car insurance expert Natasha Glasgow has backed the proposals, but thinks they could be taken further.

Natasha said: "At long last, the insurance industry is waking up to the fact that it has made the process of renewing policies at a competitive price as difficult as possible, with many customers paying way over the odds because they stick with the same insurer year after year.

"Greater transparency is long overdue and we welcome the ABI's proposals which have resulted from greater scrutiny by the regulator, the Financial Conduct Authority."

Could go further

But forcing insurers to tell customers how much they paid last year does not go far enough, says Natasha: "Seeing last year's price on a renewal quote is one step towards getting a good deal - but far from a silver bullet. Car insurance premiums are falling for new customers - as first year deals offer discounts to entice customers in - so comparing across the market will reveal how good a deal your renewal price really is.

"We would like to see these measures go further, and tackle the issue of insurers automatically renewing policies for the second year.

"This practice hinders customer's abilities to shop around for the best deal. We also hear of some people ending up with two policies running simultaneously, or a policy that no longer offers them the right level of cover.

"Insurers at the very least need to make it much clearer whether customers will have their insurance automatically renewed unless they actively opt out."

Proof problems

As we found from more than 80 reader comments on our blog Get proof of your no claims discount, proof of no claims is another area which could be clearer.

For example, Don Hanney wrote: "I've long been peeved by this insurance-company scam, having lost many years NCD through various companies recognising limited years of claim-free policies. Surely there should be an industry standard."

Natasha agrees that changes are needed. She said: "Proof of a customer's No Claims Discount should also be given in the renewal documents. Not having this kind of information readily available can create a real barrier to customers wanting to move to a different insurer because some providers make it very difficult to obtain."