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Is you credit rating driving up your Florida auto insurance? September 12, 2009

Posted by newboyinfl in Florida.
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Many people’s credit scores have fallen as banks tighten their lending standards amid the industry’s financial turmoil. A recent study by TransUnion LLC, one of the three big credit-reporting companies, noted that consumers in Florida and other large states hit hardest by the recession have lost an average of about 10 points from their scores in the past year. And the situation is expected to worsen, the study warned.

The practice of using credit scores to determine insurance rates has been disputed since insurers first adopted it in the early 1990s. The industry insists that the lower a driver’s credit score, the greater that person’s risk of having an accident. Consumer groups and many state regulators insist that theory is full of holes.

Florida No Fault Auto Insurance

But beyond the statistical argument, people simply need to catch a break these days amid double-digit unemployment rates and the worst economic conditions in decades, said Walter Dartland, a Tallahassee-based consumer advocate and former Florida deputy attorney general.

Insurers don’t rely exclusively on credit scores, but they are part of a formula used to calculate what is known as an “insurance score.” That rating also takes into consideration factors such as your driving record — though your credit score clearly carries more weight.

Regulators say they hope to get sponsors later this year for a bill in the Florida Legislature that would strengthen the law and perhaps ban the practice entirely.

Florida Auto Insurance Companies

Kimberly Abbes would like that. After her insurance company rebuffed her objections to the rate increase in her auto coverage, the Clermont woman went shopping for a new policy. Fortunately for her, a new company has offered her coverage for the same amount she was paying her current insurer before the price increase, Abbes said.

‘Cash For Clunkers’ or just more debt August 13, 2009

Posted by newboyinfl in Florida.
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cash for clunkers in florida

Seems like millions of people are trying to get  federal stimulus from the  ‘Cash For Clunkers’ program.

Ok, may be it is a good deal and considering the manufacturer discounts you could probably get a brand new vehicle for 20% less.
But the real question is “Is it really worth it”?

Aren’t we all in enough debt already?

If you were considering buying a new car anyway, than this programcan only be a good thing for you. Otherwise I just don’t see a point.

I guess I’m not a big fan of new cars. What really matters to me is to get from point A to point B safely. My car is seven years old but it is paid for and my car insurance is relatively cheap.

If I get a new car it will just mean another monthly payment and more expensive car insurance. Yes, it will quite probably be a fuel-efficient car, but it will still require collision and comprehensive coverage. I will end up having  to pay more for my Florida No Fault Auto Insurance.

Considering that a new car loses a good percentage of its value in the first 3 years, it just doesn’t appear to be a sound investment at all.

Sure, this this program may help the economy a bit, but it could cause problems as well. Look at what happened in Germany, a lot of old cars were sold again rather than being scrapped.

May be the government should have gone for ‘Cash For Laptops’ instead.

You can also check this hub page: Will ‘Cash For Clunkers’ drive my premiums up?

I’m moving … again! July 29, 2009

Posted by newboyinfl in Florida.
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Well, this hasn’t been an easy decision after all.

florida

florida

I seem to move a lot. May be too often. I have lived in 12 states and 4 countries in Europe already.

Nevermind, such is life.

Now, Florida – The Sunshine State! Why I choose it? Honestly, I don’t know.

The question now is – which city to move to? Miami, Orlando or may be Tampa?

I have some friends that are looking at places for me to live. I’m going to check for local sport clubs, reading societies and get car insurance quotes Florida.

Will do a bit of research first. Already mentioned my move and the fact I think no fault auto insurance in Florida is crazy!