The Financial Crisis Has The “Credit Rating Method” Under Scrutiny…

In states that use credit ratings along with other methods in determining premiums for auto and homeowner insurance, consumer groups are upset as the current financial crisis they say, has forced up rates unfairly. Others counter with the contention that responsible people pay their bills and keep their financial house in order and credit ratings should matter. The use of credit ratings is outlawed in California and Hawaii. Click here for the full story…

Auto vs. Fixed Property Fast Fact….

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In a study of fixed property claims over the past six months, claims in which a field damage appraiser inspected the property and wrote an actual damage estimate, saved insurers 18.5% on average when compared to a building contractor’s proposal.

This means that on fixed property losses such as walls, fences and accidents where a vehicle impacts property. The utilization of an property damage appraiser saves around $905.95 per file!  Next time an adjuster in a claims office wants to merely pay a landscape or building contractor’s estimate without an independent set of eyes, beware.

 

Data source:  © 2009, AutoClaims Direct, DirectLink, American Property Claims