Archive for the ‘Competition’ Category
Progressive & Liberty Mutual Lawsuit Initiated
Posted by Cassandra in Competition on July 1st, 2010
A federal lawsuit has been filed by Progressive, the nation’s fourth largest auto insurer, against Liberty Mutual for a patent infringement on a vehicle monitoring system. Progressive claims Liberty’s OnBoard Adviser and Rewind programs are copyright infringements of Progressive’s MyRate program monitoring insured’s driving habits.
According to the lawsuit Progressive was issued a patent in 2000 for the MyRate program. This patent is being used as the grounds for lawsuit against Liberty’s Rewind and Onboard Adviser programs. The Rewind program waives surcharges for qualifying drivers who receive a speeding ticket or are involved in an accident. The Onboard Advisor program is more intense as it reports your fuel score, indicates driver performance as to correct risky driving habits, keeps a location lock on the vehicle and creates a driver trend analysis. These systems are utilized by Liberty Mutual to transmit data used to calculate the driver’s safety score.
According to an article from Business Insurance a Progressive spokeswoman stated:
“Our extensive research, development and investment in usage-based insurance dates back to the mid-1990s. We filed this suit to protect intellectual property rights we have spent more than 15 years investing and developing.”
The Liberty Mutual Spokesman Gleen Greenberg has relayed to the press as of now the company has no comment on the litigation.
Are You Being Overcharged For Your Auto Insurance?
Posted by Cassandra in Competition on June 7th, 2010
This past May the state attorney general announced four additional insurance companies to pay fines and compensate 10,000 auto insurance customers who were being charged auto premiums with inaccurate accident reports indicating they had not been at fault. The four companies to re-pay customers unfairly determined premiums are: Abrella Mutual, Norfolk & Dedham, United Service Automobile Association and Electric Insurance.
Some Massachusetts insurance companies were practicing outsourcing. When the auto insurance industry deregulated about two years ago the major insurers began using private databases to rate customers. There is a fear this outsourcing was careless in its record practices and drivers were being wrongly assigned at fault accidents and thus being charged higher premiums. These errors were found and investigated when a consumer complaint was sent to the Massachusetts Attorney General’s Office regarding overcharges based upon an inaccurate driving record.
Along the same lines as a credit report, your driving record in the RMV can contain mistakes by way of anything from a misspelling error and software glitches to poor handwriting on the original accident report. To protect yourself from paying higher premiums for accidents you were not involved in or determined not at fault with, it’s a good idea to review your driving record every do often.
A great way to do this is to ask your auto insurance agent what accidents, tickets, or violations are on record and affecting your rates. If you find you have one of these on your record that you were not involved in the first step is to seek out the source of the information. If the information was submitted by a company, contact the company and request a copy of the accident report they have on file. When you receive a copy of the accident report, compare it to the original police report. You will next need to file an appeal to either your current auto insurance carrier or the Massachusetts Court of Appeals.
Plymouth Rock Customers Receive MORE Benefits!
Posted by Cassandra in Competition, MassDriver.org on May 25th, 2010
Plymouth Rock Assurance Corporation announced last week it has made an agreement made with some of the nation’s top auto service providers and part retailers to provide Plymouth Rock policy holders with additional Savings Pass Program benefits. Plymouth Rock has partnered with Sears Auto Center, Meineke Car Care Centers and Maaco to name a few, offering discounts saving up to 15% on auto-related products and services when customers use their Savings Pass.
Meineke Car Car Centers and Maaco will offer a number of discounts on auto parts and repairs at to those within the Plymouth Rock Savings Pass Program. Meineke will offer Plymouth Rock customers 5% off new tires and batteries – instillation included – and a 10% discount on all other products and services. It has also been announced Maaco will be offering 10% off their services and products. Sears Auto Center will provide Plymouth Rock customers a 5% discount on regular priced products and a $7.00 discount on oil changes. According to the carrier’s website, the Plymouth Rock Savings Pass offers additional discounts at: Auto Anything, Hertz, Enterprise, Sullivan Tires, Auto Sound, In Control, Driven – Advanced Driving School, Jiffy Lube, and more auto service and parts providers.
The Savings Pass is free and given with all Massachusetts Plymouth Rock insurance policies. In addition to the free Savings Pass Plymouth Rock offers a number of services in the MYLES – Make Your Life Easier Services including:
- Online payment options, electronic billing and e-mail document delivery
- Easy and convenient Internet-based claim viewing, a new feature that allows Plymouth Rock customers and their agents to view the progress of an auto claim online
- Email reminders for inspection sticker, license and registration renewals for every car and driver on a customer’s policy
MassDrive is a proud broker of Plymouth Rock Assurance Auto and Home insurance. For more information about Plymouth Rock or a free quote call a friendly MassDrive agent today!
Liberty Mutual Settlement
Posted by Cassandra in Competition on April 8th, 2010
Martha Coakley, Massachusetts Attorney General, has announced approximately three million dollars has already or will be returned to Massachusetts motorcyclists who were overcharged by Liberty Mutual. The insurance company is required by terms of a settlement reached in December to complete the process of issuing the refunds by May 1. Refunds range from amounts of $250 to $9,200 with an average refund of $334.
According to an article published in Legal Newsline, refunds of less than $250 will be distributed to 5,851 Massachusetts residents and 1,560 residents will receive refunds of between $250 and $499. Refunds of between $500-$999 will be sent to 1,136 residents while 740 will receive refunds of between $1,000-$9,200.
Liberty Mutual Customers who are eligible for a premium refund must have purchased insurance with either comprehensive or collission coverage for a motorcycle between January 1, 2009 and March 30, 2009. The Attorney General stated that Liberty Mutual has overcharged motorcycles during this time period.
Breaking down the facts on Auto Insurance
Posted by Ryan in Competition on March 9th, 2010
Auto insurance can be complicated but it is very important that you know all the details. A recent article published by MSN money breaks down the basics of auto insurance.
- If you have good credit, you’ll pay less
- Your car model affects your premium
- Pay in full to avoid installment fees
- Personal property within your vehicle is not covered
- Bad driving leads to higher rates
- If you lend your car out and something happens, you’ll be the one to pay
- The value of your “totaled” car may surprise you
- Check into “diminished value”
- Taxes can still be owed on a replacement car
- Wait to add your teenager to your policy until he or she is licensed
- Officially cancel your insurance policy when you switch insurers
When shopping around make sure to keep these points in mind because they may end up saving you money annually. MassDrive would like to help you in your efforts! MassDrive is excited about the competition that deregulation has created and we would like to pass on the savings to you. Our licensed professionals can compare policies from multiple carriers and give you a better understanding of the benefits of each plan!
Progressive Falls Behind
Posted by Cassandra in Competition on February 19th, 2010
Flo, the popular Progressive personality, will bring higher premiums with her quirky commercials and price zapping gun this quarter. Progressive entered the Massachusetts auto insurance market two years ago with rates attractively lower than most competitors. The lower premiums however have not endured as Progressive raises their rates for a fourth time since their debut in 2008. The new price increase of 6.63% will raise prices a grad total of about 16% over the last two years.
Andrew Quigg, a Progressive executive in charge of the company’s Massachusetts business states,”We’re still very competitive… Thousands of consumers still shop around and find us to have the lowest cost for auto insurance.” Even so, Progressive has become less and less attractive to the Massachusetts driver as time continues to provided a history of constantly increasing premiums. If these price increases continue to follow their repetitive pattern, Quigg’s statement is unlikely to remain true for long.
Insurance commissioner Joe Murphy told the Boston Globe he believes the deregulated auto insurance market, “has been wildly successful.” And successful it has been. The Massachusetts Division of Insurance reports drivers saved $270 million in the first year of deregulation. Eleven new insurance carriers have entered the Massachusetts auto insurance market since the new system emerged. Before deregulation insurance rates were set by the government and depended upon the driver’s location and driving record only. The new market allows insurance carriers to offer discounts from holding a AAA membership to owning a home. Deregulation holds great potential savings for drivers state wide.
Some critics of the newly deregulated system find it difficult to compare prices through the plethora of new auto insurance carriers. Adjusting to a new system may difficult for some, however it does not have to be difficult for you. MassDrive Direct Auto Insurance understands you have better things to do with your time than compare auto insurance quotes while understanding it is an important process. Here at MassDrive we quickly gather your basic information and compare auto insurance quotes for you!
No longer will you need to worry about comparing rates, coverages between quotes, or stress about discounts – MassDrive has your back. We compare quotes through various Massachusetts insurance carriers helping you find the best price and saving you time. One carriers may offer discounts another does not, in comparing your information through various carriers we help you get the most bang for your buck. And the best part? The quotes are completely free! Give MassDrive a call, one of our friendly representatives will compare your quotes saving you time and money.
Hydrogen heading east!
Posted by Ryan in Competition on February 4th, 2010
There may be hope for hydrogen on the east coast. With President Barack Obama’s choice to endourse the development of electric vehicles the future of hydrogen cars looked uncertain. Recent developments will make it possible to refuel hydrogen vehicles on the east coast. SunHydro will be constructing 11 station on the I-95 highway. The ultimate goal is to give hydrogen vehicle owners the opportunity to travel from Miami to Maine.
Each station will be a self contained hydrolysis unit with solar power collectors attached. The solar power will provide enerfy to create hydrogen from water via hydolysis. The stations may cost up to 3 million USD a piece in private funding. President Michael Grey knows that the company is taking a risk on the stations but feels it is a necessary risk for development of the techonlogy.
“We’ve just decided that somebody needed to start this process. You have a lot of the big companies talk about it, but nobody’s stepped up to the plate and made it happen. You’ve got to have some visionary risk taking if you want to be a company of the future. Otherwise, you’ll fall by the wayside.”
Several car companies have research departments dedicated to hydrogen plans but only time will tell whether these vehicles will compete in the automobile market.
Safety Insurance Settles with Attorney General
Posted by Cassandra in Competition on January 15th, 2010
Safety Insurance Group announced yesterday January 14th 2010 it has reached an agreement with Attorney General Martha Coakley in the dispute over quoting motorcycle premiums. Safety’s settlement will backdate to certain types of coverages written on motorcycle insurance to Safety to January 1, 2002. If a customer has overpaid a premium with the new resolution since January 1, 2002 a refund will be made to the policy holder. If a customer paid a premium less than what would be determined by the standing agreement between Safety and the Attorney General additional premium will not be collected.
“Although we disagreed with the Attorney General on a number of points, we believe that after extensive discussions Safety has arrived at a resolution of the issue and an agreement with the Attorney General’s office that provides for the best interests of Safety’s policyholders. Safety had followed standard practices generally used by many Massachusetts insurance companies to calculate appropriate premiums for motorcycle coverages. It cooperated fully with the Attorney General’s review of those industry-wide practices and participated in the development of the new method.”
-Peter Rice, Safety’s outside council
Auto Industry Recovering Faster than Anticipated
Posted by Cassandra in Competition on January 8th, 2010
United States auto sales were published this week revealing gains sooner than expected. Auto companies including Ford Motor Company, Honda Motor Company, and Toyota Motor Company showed sales surpassing the forcasted estimates. The increase in sales is a sign the auto industry may finally be stabilizing after it’s worse year since 1970.
Ford Motor sales increased last month by 33% selling a grand total of 178,063 cars. Toyota also experienced a 32% jump in sales the past December. However General Motors Corporation published a 5.7% decrease in light-vehicle deliveries last month. GM and Chrysler took a dive this year with a disappointing sales and resulting bankruptcy.
As the United States works its way through a recession there is no denying our market has suffered significant damages. According to the Center for Automotive Research the United States slipped a considerable 21% in the world market while China made an increase of 42%. China took the title of number one auto market from the United States last year. If trends continue to follow the December United States auto sales report the U.S. may take back the auto market little by little, however not immediately.
Things to keep in mind while shopping around
Posted by Ryan in Competition on January 8th, 2010
While reviewing your insurance there are a few things you want to keep in mind. Make sure you know if there is going to be any changes from your old policy to your new one. You don’t want to lose coverage; the point of shopping around is to get you the best coverage while still getting you a better price. Are you receiving the proper discounts that match your specific situation? Many insurance companies offer discounts depending on a variety of factors. Some discounts are required by law and others are optional for insurance carriers. In addition, two carriers may offer the same discounts but the amount of that discount could vary from carrier to carrier.
At MassDrive you will not only find professionals in the insurance field that can answer all of your questions with your interests in mind. You will also find a variety of resources available to you as a Massachusetts auto insurance consumer. Our goal is to find every Massachusetts customer the right policy at a price the driver can afford. Our only focus is Massachusetts and because we’re Massachusetts drivers ourselves, we feel a responsibility to deliver results to you.
