What is the most precious thing on Earth? No, that is not a diamond or any other precious stone. It is life, for sure. Life is diamond-like, precious and important to be looked well after. But unfortunately, life has one big disadvantage – it ends. So we have to take good care of ourselves if we want to live longer.
Posts Tagged ‘auto insurance’
Life insurance to make your life easier
May 30th, 2010First California, now Michigan
January 14th, 2010Politics is endlessly surprising. The theory of democracy states the people have the power through the ballot box. The reality is slightly different with representative government. At preset intervals, the people have a say in who should represent their interests, and may vote on proposals and policy initiatives. This actually leaves them rather powerless. It’s the elected representatives who have a better control over events, in consultation with all the vested interests and power brokers who have influence behind the scenes. This is not to condemn the current system as broken or corrupt. As it stands, it does have the benefit of being very slow-moving. There is always passionate debate when big changes are proposed. This means changes are more likely to be made for the right reasons.
What can history tell us about auto insurance?
January 8th, 2010According to The Beatles, “It was twenty years ago today, Sgt. Pepper taught the band to play.” So, in 1988, voters in California passed Proposition 103 which, as history tells us, proved to be one of the best Propositions they have voted for. Why? Because it pushed forward reform of the automobile insurance industry. The result? Evidence shows California has the most competitive market in the US with the slowest increase in premium rates. If you ever wondered what consumer protection should look like, California is the model all the other states should follow. Curiously, Illinois is the most unregulated market and the least competitive. Are Californians pleased with the result? Looking at the pattern of increases in the rest of the US, the estimate is that Californian drivers have saved more than $17 billion in premiums. That’s almost $2,000 per driver. What’s not to like about that? With the last year of recession, the continuing low premiums and strong competition between the insurers guarantees better service standards on claims, just when family budgets benefit from low monthly instalments and fast payments if there is an accident.
