State Auto insurance comanies has announced it will add personal insurance products on March 15, 2008. This less than a year after the Columbus, Ohio-based insurer acquired Beacon Insurance Group of Wichita Falls.
Eeka, over at her blog (1smootshort.blogspot.com), recently made a short post about an auto insurance discount for Massachusetts auto owners who use the public transit system as their primary source of transportation.
An Ohio court ruling could require auto insurance companies to include lost value to damaged vehicles as well as the cost of repairs. This could spread to other states. It sounds like a good thing for Ohio auto owners, but the question is who will pay for the extra costs incurred by insurance providers. Most of us know what happens to the value of our vehicles once they've been wrecked. Heck, I refuse to buy a used vehicle that's been in any accident because there are simply to many unknowns.
The new car insurance product is a full-cycle EDI private car policy, which will initially be available via two broker software houses, SSP and CDL, with a third to follow later in the year. Brokers will have a choice of two products both offering the same level of cover; one with a lower commission level passing on the benefit in the form of a cheaper price to the customer.
Do you have a large family? Are you used to driving a large vehicle like a SUV? Well, what happens when someone hits you, and damages your vehicle to the point where it's not drivable? Will you get stuck with a compact car - not big enough for all your family members? This is exactly what happened to Jeanne and Joe O'Kelly of Lebanon.
