N.J. Commissioner: State Regulation Helped Insurance Withstand Sagging Economy

New Jersey Banking and Insurance Commissioner Steven Goldman thinks the shaky economy's impact on insurers has been softened in part by state regulation. Sworn in to office by Gov. Jon Corzine in March 2006, Goldman is the chairman of the National Association of Insurance Commissioners' International Insurance Relations Committee and Reinsurance Task Force. Here is some of what Goldman had to say to BestWeek:

State Regulation

If you look at the financial sector over the entire spectrum, the one that has withstood the current economic crisis the best is the insurance sector. That's not by accident. The regulatory structure for the insurance sector has been more effective than the regulatory structure of the other sectors.

Federal Role

The most important part of a federal approach would be in the context of the discussion taking place about a systemic risk regulator. It is difficult for states, either singularly or in the aggregate, to develop programs which would enable the use of systemic risk regulation, which by definition, needs to be across all sectors of the financial services industry. A systemic risk regulator should include representatives from all segments -- including state regulators who regulate the insurance industry.

New Jersey Coastal Insurance

There is affordability and there is availability. We've had a number of new entrants come to the market; we have had surplus lines carriers in the market. It has become somewhat more expensive but we don't think it's become unaffordable and it's definitely available.





Insurers' Adjusting to Auto Reform

Happily, with respect to [the sunset of take-all-comers and caps on urban territories], unhappily with respect to the TREE [Territorial Rating Equilization Exchange] program we put in place. There are a number of carriers who I think understand the purpose. All carriers have been cooperative in working through the process. [The removal of old regulations] coupled with TREE enabled us to remove them without having disproportionate rates follow. We think it's been a highly competitive market.

TREE Progress

Quite good. It is industry board represented; continues to innovate for ways to make it work as smoothly as possible.

PIP Fee Schedule Stuck in Court

We've been trying hard to move that along. We're at the mercy of the court schedule, but we do want to see it implemented. To the extent rates are being driven somewhat higher, that is a principal cause. It would be a great help to New Jersey consumers and to the industry to get a comprehensive schedule in place.

Professional Liability Challenges

It has turned to a softer market the last year or so, so there has been less of an outcry as a result. We've proposed regulations, which would enable us to take a tighter look at the insurance treaties that some of the medical malpractice carriers have entered into so we can be certain there has been appropriate risk transfer. Principally what we are after there is to make sure that the audit committee reports directly to us when we come in about the nature on investments and return on investments. We are also going to propose some ability on the part of the department to review and approve rate increases and decreases.

Obama to Propose Changes to Taxes on Estates, Punitive Damages

The Obama administration on Monday will propose raising nearly $60 billion over 10 years through changes to the estate tax law and closing certain domestic tax loopholes, an administration official said.

Funds raised will go to beef up a health care reserve fund, a $634 billion pot of money President Barack Obama wants to use to revamp the health care system and expand insurance to tens of millions of Americans who lack it.

The White House wants to raise $24 billion over 10 years by tightening rules related to the estate tax, a levy on an inherited part of an estate if the value exceeds an exclusion limit set by law.

Currently, the first $3.5 million for an individual, or $7 million for a couple, are exempted.

The changes to the estate tax are related to how assets are valued, said the official, who was not authorized to be quoted.

Other proposals include denying tax deductions for firms with punitive damage claims, the official said.

Later on Monday, the administration will provide details on a series of tax proposals unveiled last week, said to raise $210 billion over a decade, to tighten rules related to overseas investments.

The Worst Cars for the Money

No carmaker is perfect. Each has best and worst sellers, hits and misses. And while plenty of cars are generally good values, there are a few that don't make as much sense when you work out the calculations over time. That's where our new list comes in: the Worst Cars for the Money.

The Worst Cars for the Money were identified using data from the U.S. News car rankings, which are based on the collective opinion of the automotive press. This tells us how "good" or "bad" a car is within its class, according to a large number of critics. We then weigh the rankings against how much value the car packs in compared to others within its class. Using data from IntelliChoice, an industry leader in determining ownership costs, we include how much buyers can expect to spend up front, how much they'll spend on maintenance and fuel, and how much of a hit they'll take from the car's depreciation during the first five years.

The result is a list of cars you may want to think twice about before buying. But also keep in mind the unwritten part of a car's value: if you really like one of these models, then chances are you'll be happy driving it no matter what - which means that in the end, it could be the best car for your money.

Compact Car: Pontiac G5
The G5 trails the majority of compact cars when it comes to comfort, quality and performance, leading to a poor U.S. News ranking. Its sticker price is also a bit higher than many competitors, and it's expected to depreciate as much as 60 percent within the first five years of ownership - twice as fast as its top-ranked competitors. In addition, five years of fueling and maintaining the G5 is estimated to cost you $5,000 to $10,000 more than Honda's Fit or Civic. The G5's future is unclear since GM has announced plans to shrink the Pontiac model line significantly. Pontiac sold just 767 G5s nationwide in January.

Better values: If you're in the market for a compact car, consider the Honda Fit and Hyundai Elantra.

Compact Crossover: Suzuki XL7

Some critics note that while it's a competent people hauler, the Suzuki XL7 can't match the acceleration, handling and interior quality of top rivals. Its five-year cost of ownership is quite high - almost $47,000 as compared to the Honda CR-V, which is about $37,000. Depreciation is the major cause - like the Pontiac G5, the XL7 is expected to lose more than 60 percent of its value over five years. We should note that while the XL7 may have some shortcomings, this SUV has stellar crash test ratings and should be on the list for small SUV shoppers concerned about safety.

Better values: If you're in the market for a compact crossover, you may do better with the Mazda Mazda5 or the Ford Escape Hybrid.

Full-Size SUV: Jeep Commander

The Jeep Commander is a good choice for off-road enthusiasts, but buyers who spend the majority of their time on the pavement should look elsewhere. U.S. News ranks the Commander last among large SUVs. Its cost of ownership over five-years is $10,000 more than the Mazda CX-9 crossover and even higher than the popular Chevrolet Tahoe, another off-road-ready vehicle. While the Commander's sub-$30K sticker may look appealing, this big SUV is expected to depreciate 50 to 60 percent over five years. Sales were down 56 percent last year, and there's speculation that it may be discontinued after 2009.

Better values: If you're in the market for a full-size SUV, the Chevrolet Tahoe and Mazda CX-9 are worth a look.

Full Size Pickup: Nissan Titan
With rugged practicality and a strong powertrain, the 2009 Nissan Titan isn't out of place in the full-size truck market. However, after more than three years on the market, the Titan still hasn't pulled in a lot of American buyers. Sales were down almost 50 percent in 2008. That may be because the Titan's value equation just doesn't make sense. It's generally well liked, but it costs up to $5,000 more than solid American options. The Titan also lags the competition in fuel economy, with only 13 miles per gallon in the city for the base model. Nissan has announced it will end production of the Titan in 2010 and is planning to replace it with a pickup based on the Dodge Ram.

Better values: Consider the Ford F-150 and Chevrolet Silverado.

Upscale Car: Volvo S60

The Volvo S60 is based on a nine-year-old design and has been left in the dust by continually improved competitors like the Infiniti G37 and BMW 3-Series. On the plus side, the S60 could save you two or three thousand dollars over five years, compared to the 3-Series or the Cadillac CTS. But consider that the existing S60's deprecation will likely only get worse: Volvo debuted a new concept at this year's Detroit Auto Show that will make the current S60 extinct.

Better values: If you're in the market for an upscale car, consider the Infiniti G37 or Lexus ES.

Sports Car: Mitsubishi Eclipse

The Mitsubishi Eclipse offers aggressive sports car styling, but critics claim it lacks the power and agility they expect in a sports car. This contributes to an underwhelming performance in the U.S. News rankings. The Eclipse isn't such a bad deal if you just want to look the part of a speed racer - there are just other sports cars that are better. The Eclipse's sticker price undercuts most of its rivals. The car will run you about $40k + to own over five years - about $5,000 less than the Honda S2000. The Eclipse's sales numbers confirm that it has loyal buyers. Sure, sales are down about 38 percent from a year ago, but the Eclipse still sold better than the S2000 or Mazda Miata. The Eclipse just received a refresh for 2009, which means it probably won't be going anywhere soon.

Better values: Still, for cars that perform better within the mainstream sports car class, take a look at the Mazda MX-5 Miata and Nissan 370Z.

Cheapest Cars to Insure

Nobody wants eye-popping auto insurance premiums in addition to monthly car payments. So if you're considering purchasing a small sedan, not factoring in your personal driving records, the Honda Civic is the least expensive car to insure in that niche. Conversely, a Mitsubishi Lancer Evolution 4WD is the most expensive.

If the market for large luxury SUVs has caught your eye, a Land Rover LR3 will keep your insurance pain to a minimum, while a Porsche Cayenne will maximize it.

Those and other insurance-related facts are compiled by the Highway Loss Data Institute (HLDI), a non-profit organization dedicated to reducing the deaths, injuries and property damage stemming from auto crashes. Supported by auto insurers, HLDI rates vehicles based on what insurance companies pay out in losses for various makes and models.


Least & Most Expensive Car to Insure
Least Expensive Most Expensive
Small Sports Car Pontiac Solstice - 73 Honda S2000 - 196
Midsize Luxury SUV Volvo XC90 - 62 Cadillac SRX - 129
Small SUV Jeep Wrangler LWB 2-door - 63 Mitsubishi Outlander - 120
Midsize Luxury BMW 3 Series Wagon - 58 BMW M3 - 301
Small Pickups Dodge Dakota Quad Cab - 75 Mazda B plus 4WD - 160
Small Four-door Honda Civic - 105 Mitsubishi Lancer Evolution 4WD - 437
Midsize Four-door Subaru Outback 4WD - 72 Nissan Maxima - 137
Large Luxury SUV Land Rover LR3 - 53 Porsche Cayenne - 121
Above are a few collision averages gleaned from HLDI data. The least expensive vehicle to insure in the category is first, followed by the most expensive with corresponding collision damage scores.


HLDI data looks at six insurance coverage areas, including property damage liability and personal injury protection. However, payouts pegged to collision damage are the key indicator used here.

"Collision damage is one of the big things that insurers pay for," HLDI spokesman Russ Rader said. "If a vehicle that you're looking at has very high losses under collision coverage, insurers are paying out a lot of money to repair that vehicle. Therefore, you're likely to pay more to insure it."

HLDI's stats cover 2004-06 vehicles and include accidents that occurred up to May 31, 2007. The vehicles being examined have only been sold once and have been assigned numerical collision-damage scores, with 100 representing the average collision loss for all vehicles in a given category.

The Lincoln Town Car's category-leading 96 means it fares 4 percent better than average when it comes to collision losses that insurance companies pay for very large luxury cars. The 459 score generated by the basement-dwelling Maserati Quattroporte is 359 percent worse than average.



See 2008 Porsche CayenneIt's not difficult to divine from those scores that the Lincoln will cost considerably less to insure than the Maserati.

In the large pickup truck category, the Dodge Ram 1500 Mega Cab got a 53, which is 47 percent better than the average for its large-pickup brethren. Listed at the bottom of the pack was the Nissan Titan King Cab, which received a 121.

The cheapest car to insure among midsize sports cars is the Ford Mustang GT convertible, which earned a 100. On the other hand the Dodge Viper convertible, with its 865 collision-damage score, would appear to be an insurance nightmare.

Of course insurance companies take other things into account when determining how much your auto insurance will cost, said Carolyn Gorman, of the Insurance Information Institute. "A lot of different factors, such as your driving record and where you live, will affect your auto insurance premium," Gorman said, adding that age, gender, credit history and miles driven each year also play a part.

But a major component affecting auto insurance premiums is within your control. To find out if a new vehicle you've been eyeballing has high collision-damage losses, visit HLDI's Web site at www.iihs.org. Click on 'Research & stats,' then click on 'Insurance losses by make and model.'

"Generally speaking, as you look at the data one of the things you'll see is big and boring sedans have lower insurance costs," Rader said. "So vehicles that don't go fast and don't have a lot of extra parts that are easily damaged in a crash are going to have lower insurance losses. If you're looking at a European luxury car, or a souped-up high performance car, you're likely going to pay more to insure it."

Sizable number of Texas drivers without insurance

AUSTIN (AP) - A large number of drivers on Texas highways and roads do not have auto insurance, according to a Texas insurance organization.

A 60-day pilot project testing the new TexasSure program, which allows law enforcement personnel via computer to verify coverage status when they stop a motorist, focused on Travis County. During the test which is expected to end soon, Texas Department of Public Safety troopers stopped and ticketed uninsured drivers.

So far, 25.5 percent of 5,012 drivers stopped in Travis County and small portions of nearby Williamson and Hays counties since June 2, did not have auto insurance.

"The numbers show that Texas has an even larger number of uninsured drivers than we had realized," said Mark Hanna, spokesman for the Insurance Council of Texas, in a story Tuesday in the online editions of the Houston Chronicle and the San Antonio Express-News.

The Council has been monitoring the state's new auto insurance verification program.

"Troopers tell us that some areas of the state may have more than half of their drivers uninsured, and that's scary news for everyone else on our roadways," Hanna said.

This spring, the minimum amount of liability insurance Texas drivers are required to have, increased for the first time in 22 years. Hanna said he didn't think the higher requirement was a factor in the lack of coverage because the effect on premiums was "minimal."

During the pilot project, drivers who said they were insured but weren't carrying proof of insurance weren't issued citations if troopers, using the new technology, validated their insurance coverage.

DPS plans to issue a report of its findings when the pilot is completed.

A portion of the vehicle registration fee is paying for a $7 million contract with HDI solutions Inc. The company, based in Alabama, developed the database of insurance customers and drivers' license records.

Pay-as-you-drive auto insurance coming

TRENTON, N.J. (AP) - Sure, you may think you're a good driver, but are you willing to bet your insurance premium on it?

In several states across the country, drivers are getting the chance to do just that.

Auto insurer Progressive Corp. has begun offering its drivers the chance to cut their auto insurance costs based on how they actually drive, not only on their age, credit score, number of tickets they've received or the accidents on their driving record.

The catch?

Motorists must allow a high-tech monitoring device - sort of like a black box for cars - to be installed that tells Progressive how many miles they've driven, how fast they accelerate and how often they hit the brakes.

Good drivers will get discounts; others could face surcharges.

Under Progressive's program, customers can earn a first-term discount of up to 10 percent just for signing up. Then, when they renew their policy, their rate could decrease by up to 60 percent or increase by up to 9 percent based on their driving habits.

Richard Hutchinson, a Progressive general manager, said the program is designed for drivers who are consistent and safe.

"We want people to know that the program is not right for everyone," Hutchinson said.

"It's for people who drive at low risk times of day and who keep alert for others on the road," he said. "They don't make fast lane changes or follow too closely behind other drivers so they don't have to overreact or slam on the brakes."

Progressive began the program in Alabama in late June. It's also been made available in Minnesota, Oregon and Michigan. A national rollout of the program will continue throughout 2008 and 2009.

It starts in New Jersey on Aug. 8. The company will be the first to offer such a program in the Garden State, whose motorists have the highest auto insurance rates in the nation at an average of $1,184 per vehicle.

Other companies also recently began offering similar options.

GMAC Insurance and OnStar vehicle services last year started a new program that allows motorists to earn an extra discount based on the miles they drive.

The concept has been utilized elsewhere, too.

After conducting a pilot scheme with 5,000 drivers beginning in 2004, Norwich Union launched a pay-as-you-drive insurance program in 2006 in Great Britain.

Insurers say that cars driven less often, in less risky ways and at less risky times can receive a lower premium.

As a result, Michael Barry, a vice president at the Insurance Information Institute, said many auto insurers are exploring the option.

"The consumer is really being given an opportunity to potentially reduce their auto insurance premium in exchange for giving their auto insurer access to information that currently isn't available to them," he said.

Environmentalists generally back the concept. According to the Environmental Defense Fund, the programs help reduce traffic congestion and pollution.

Progressive spokeswoman Tara Chiarell said the customer owns the data so Progressive would only use it for claims purposes with the owner's permission or if it were subpoenaed and it was required to do so by law.

She said Progressive has never been subpoenaed to submit pay-as-you-drive data.

Chiarell also said Progressive doesn't sell or share the data with any other companies or agencies.

She said the data is collected on a daily basis. Customers can access their data on a secure, password-protected Web site, which allows them to get an up-to-date view of their driving habits and how those habits are affecting their rate, she said.

But Charles Samuelson, the ACLU of Minnesota executive director, told The Star Ledger of Newark for Monday's editions that they have worries about privacy.

"We see this as kind of a creeping abduction of people's data," he said. "Basically, once they collect that data, it belongs to the insurance company. That's a big problem."

AAA-Mid-Atlantic spokesman David Weinstein said if a link between electronic monitoring and accident probability becomes clear, they would like to see all drivers' insurance premiums based on that information.

"Not just select drivers who grant their permission," he said.

On the Net:

Progressive Corp. http://www.progressive.com/

Vehicle insurance solution to benefit Vehicle and Asset Finance

As auto sales across South Africa continue in a spiral decline, the ripple effect is being keenly felt across all auto-related and support industries. The South African motor and insurance industries report they have seen a remarkable increase in insurance policy cancellations as consumers cut back on fixed expenses to keep up with the necessities of everyday life.

While insurance is obligatory and therefore instituted at the time of vehicle financing, it is often cancelled after a few installments, increasing the risk to the credit provider. In the incidence of financed vehicles, the spill-over impact for the vehicle and asset finance sector could potentially run into millions of rands worth of losses.

In an effort to mitigate this risk, TransUnion, working with the vehicle and asset finance and insurance industries, developed a solution that compares vehicle finance data with insurance information. Using integrated data files, TransUnion’s Asset Monitoring Solution, compares and monitors changes to insurance policies, helping the industry effectively manage changes to existing policies and track cancelled ones. Now, vehicle and asset finance houses will have the advantage of knowing when a policy has been cancelled, upgraded from third-party to comprehensive insurance or reduced from comprehensive to third-party insurance.

“This is a powerful solution that will help to streamline alerts on vehicle insurance defaulting in an increasingly dynamic environment. Vehicle and asset finance houses will be afforded more control over the process, faster responses and reduced losses over the long-term,” says Chris van Rensburg (pictured above right), TransUnion Executive: Insurance and Direct to Consumer.

Policy information on the Insurance Data System* facilitates the monitoring of financed vehicles. If there is a match found between the financed vehicle and the policy information, participants are alerted to the change, enabling them to take the appropriate corrective action. These alerts can be issued on a monthly basis, allowing participants to react quicker and more efficiently when a finance contract has been breached.

* The Insurance Data System, developed under the auspices of the South African Insurance Association, is a database of all personal lines claims, policy and vehicle information, pooled by participating members of the short-term insurance industry. Managed by TransUnion, in collaboration with the insurance industry, the Insurance Data System holds information on over 4,9 million claim records and 1,4 million policies.

The Global Strategic Business Report on the Automotive & Vehicle Insurance Industry Provides Insightful Analysis, Market Overview, Structure, Types of

Research and Markets (http://www.researchandmarkets.com/reports/c93425) has announced the addition of Automotive & Vehicle Insurance Industry - Global Strategic Business Report to their offering.

The Automotive & Vehicle Insurance Industry Report provides insightful analysis, market overview, structure, types of auto insurance, and outlook of the industry. Richly laden with qualitative and quantitative analysis, the report provides the reader with a rudimentary statistical preface to global auto insurance industry. A synopsized discussion offers preludes to regional auto insurance markets such as the United States, Canada, Japan, Europe (France, Germany, The UK), Asia-Pacific, and Latin America. The closely summarized market report is designed to offer a macro level picture of the trends, market structure, recent mergers & acquisitions, and strategic corporate developments witnessed by the industry. Also provided is a compilation of recent past/ historical perspective of the industry, and strategic corporate developments and product launches within it. The report examines the leading companies' footing in the industry at global and/ or regional level, along with their annual written premiums. Global key and niche players briefly discussed and abstracted in the report include Allianz SE, American International Group, Inc., Amlin Plc., Assicurazioni Generali, Aviva Plc., CGU Insurance, Dai-ichi Mutual Life Insurance, Farmers Insurance Group, Generali -Providencia, Groupama, Insurance Australia Group Ltd. (IAG), Legal & General Group Plc., Metropolitan Life Insurance Co., Millea Holdings, Inc., Mitsui Sumitomo Insurance Company, Ltd., NFU Mutual Insurance Co., PICC Property and Casualty Company Ltd., PT Asuransi Tokio Marine Indonesia, Royal & Sun Alliance Insurance Group, Sumitomo Life Insurance, Suncorp Metway Insurance Ltd, and Zurich Australia Insurance Limited.

Chapter Titles Include:

1. Auto Insurance - An Introduction

2. A Regional Perspective

3. Product Launches

4. Product Launches in Past

5. Recent Industry Activity

6. Industry Activity in the Past

7. Focus on Select Players Worldwide

Companies Mentioned:

- Allianz Corn hill, UK

- Allianz SE, Germany

- American International Group, Inc., US

- Amlin Plc, UK

- Assicurazioni Generali, Italy

- Aviva Plc, UK

- CGU Insurance, Australia

- CSOB Pojistovna, Czech Republic

- Dai-ichi Mutual Life Insurance, Japan

- Direct Line, UK

- Ecclesiastical Insurance Group, UK

- Equity Insurance Group Ltd, UK

- Farmers Insurance Group, US

- Generali -Providencia, Hungary

- Groupama, France

- Grupo Bradesco de Seguros, Brazil

- Hartford Financial Services Group, Inc., US

- Hilb Rogal & Hobbs Company, US

- Insurance Australia Group Ltd. (IAG), Australia

- Legal & General Group Plc, UK

- Liberty Mutual Group, US

- Metropolitan Life Insurance Co., US

- Millea Holdings, Inc., Japan

- Mitsui Sumitomo Insurance Company, Ltd., Japan

- NatWest Life, UK

- NFU Mutual Insurance Co., UK

- Pacifica - Credit Agricole, France

- Partner Reinsurance Company Ltd, Bermuda

- PICC Property and Casualty Company Ltd., China

- PT Asuransi Tokio Marine Indonesia, Indonesia

- RESO-Garantia, Russia

- Royal & Sun Alliance Insurance Group, UK

- Sompo Japan Insurance Inc., Japan

- State Farm Mutual Automobile Insurance Company, US

- Sumitomo Life Insurance, Japan

- Suncorp Metway Insurance Ltd, Australia

- The Travelers Companies, Inc, US

- United Services Automobile Association, US

- Zurich Australia Insurance Limited, Australia

Huntington Beach cheap auto insurance - Henderson car insurance rates - Thousand Oaks car insurance quotes 659

Snow and ice upon a pavement create merely transient danger, and the only duty upon the property owner or tenant is to act within a reasonable time after notice to remove it when it is in a dangerous condition. Ask your regular passengers about their own health insurance policies and its coverage. Several industries, particularly the insurance industry favors this system because it lowers legal fees which account for up to 15 percent of the cost of auto insurance. For more information about Evan Aidman, a Delaware County, PA Personal Injury Lawyer and his work with clients with serious injuries click here: Delaware County, PA Attorney.
However the "first party" benefits a policyholder receives from her own no fault insurance company are not mandatory and the benefits may be lower that in the "true" no fault states. Whether your boat provides family recreation or a personal getaway, make sure to purchase an insurance policy for your boat that will cover all four of the above situations before you hit the water; that way, you can enjoy yourself knowing you and your boat are protected after you set sail. Click Here for Attorney Aidman's website: Delaware County, PA Attorney. Reviewing your home owner insurance policy annually, or whenever you make changes to your home, your homes contents, and your valuables, will undoubtedly make changes to your insurance rates. The coverage for the uninsured motorist protects the insurance holder in case he or she has an accident with an uninsured person.
Further, the doctrine of hills and ridges does not apply in a case where there is no evidence that generally slippery conditions prevailed at the time at the time of the accident. Let's look at the main kinds of cover and attempt to throw a little light on the subject. Trying to get insurance cover can be a real minefield to most people. Home Owners Insurance Quote DelawareCar Insurance Quotes FloridaHealth Insurance Quote Tennessee. Paying closer attention to your driving habits and the rules of the roads, you are less likely to get as many traffic citations, and less likely to be in any accidents that would involve filing an insurance claim.
Below are several tips for saving money on your quotes and rates based on the factors considered by home owner insurance companies. It provides the insurance policies that should possibly have been supplied by the other party. For example, when a customer in a grocery store slips on grapes, the customers attention may have been drawn by a catchy advertisement or display put up by the store.
This is called "comparative negligence." (See Chapter 9 of the complete book for a discussion of comparative negligence.) Defendants argue that the claimant should have seen the hazard and avoided it. Whether your boat provides family recreation or a personal getaway, make sure to purchase an insurance policy for your boat that will cover all four of the above situations before you hit the water; that way, you can enjoy yourself knowing you and your boat are protected after you set sail. It is then easy to show that the property owner should have known of it and should have had the crack repaired. Comprehensive insurance policies protect the insurance holder in the unfortunate situation that their automobile or other vehicle is taken without the owner's permission, damaged illegally, harmed by an act of nature or damaged otherwise. The purpose of the hills and ridges doctrine is to protect landowners from liability for slippery conditions of which the owner may not have notice or sufficient opportunity to make safe.
Collision coverage pays for all damages to a automobile or other vehicle when it is in collision with another automobile or other vehicle or non-vehicular object, even if the insurance holder is at fault. Avoid including the value of your land when considering rebuilding costs. To get free quotes and learn more about insurance please visit the following recommended sites.
These include anti-theft alarms, sturdy doors and windows, dead bolt locks, and smoke detectors. Many elements of an auto insurance policy that could be optional are cover for the uninsured motorist and personal injury protection. Several industries, particularly the insurance industry favors this system because it lowers legal fees which account for up to 15 percent of the cost of auto insurance.
Covers the medical costs of anyone injured on your boat, or because of your boat. You could be missing out on cheap car insurance simply you have added to your car. No fault insurance applies to state in which an insurance company will pay for minor injuries resulting from an accident regardless of who is at fault. So there we have it, whether you require PIP and at what level, depends on several factors: where you live, your driving habits, your employment, your health, your personal circumstances and your level of existing cover.

Louisiana House Panel OKs Hike in Car Insurance Minimum

In a move that insurers say could lead to Louisiana having the highest auto insurance liability rates in the nation, a House of Representatives committee has approved HB 1312, which would raise the minimum insurance coverage Louisiana motorists must carry on their vehicles.

Then-Governor Kathleen Blanco vetoed a similar bill last year. She argued that raising the cost of minimum auto insurance would be too expensive for too many drivers, causing them to drop all coverage.

The insurance industry agrees with that reasoning, and opposes the bill by Representative Erich Ponti, a Baton Rouge Republican. Ponti said his bill would get Louisiana's minimum coverages to the same level as neighboring states.

The House Insurance Committee voted 6-2 to send the bill to the House floor.

The Property Casualty Insurers Association of America (PCI) thinks the bill is "bad news for consumers," according to a statement released by the insurance trade group after the committee vote.

HB 1312 would increase the current minimum limits of $10,000 for bodily injury liability to one person, $20,000 for bodily injury liability for two or more persons injured in any one accident, and $10,000 for property damage liability (commonly stated as 10/20/10 limits) to 25/50/25.

Greg La Cost, assistant vice president and regional manager for PCI said the bill would force many drivers "to buy additional insurance coverage whether they want it or not. If a motorist wants additional coverage, he or she already has the option to purchase more protection."

According to PCI, Louisiana's average annual liability premium for all policyholders is sixth highest in the nation, at $665 per year. If the limits are increased to 25/50/25, the increase to the state's average liability premium would go up to about $790, making it the highest in the nation. The minimum limits increase could affect approximately 1.5 million Louisiana drivers.

House Bill 1312 can be found at http://legis.state.la.us/

Another bill dealing with auto insurance failed to garner support in Louisiana's Senate. Sen. Derrick Shepherd had proposed legislation that would force an insurer to offer homeowners polices to active duty military personnel who receive auto insurance from the same firm.

Sen. Dan "Blade" Morrish objected to another provision in the proposed legislation, one that would expand a unique consumer protection provision in Louisiana law -- a restriction of insurers' ability to drop a policyholder if the homeowner has held the policy for three years or longer.

The bill by Shepherd, D-Marerro, would have expanded that protection to situations when the homeowner moves into a new dwelling, no matter its condition or location.

Morrish, R-Jennings, noted that Louisiana is the only state with such a homeowners protection and called Shepherd's proposed expansion "absolutely ridiculous."

The bill (Senate Bill 61) failed on a vote of 16-17, likely killing it for the session.

Tight New Restrictions for White Label Insurance Products

May 20 - The South African insurance industry may soon be experiencing a number of significant changes in terms of white label insurance, due to recent events that have led to authorities determining the need to change the current laws.

Under present legislation, there exists a grey area whereby it is not quite clear who is responsible for insurance disasters - the insurance license holder, or the companies to whom they rent out their licenses, known as white label insurance products.

A number of cases involving the abuse of white label insurance products have recently emerged in the South African market. The most controversial involves license holder Metropolitan Life, who is being held responsible for money that was taken wrongfully by the now liquidated white label company, Ovation investment services for Metropolitan's living annuity plan for pensioners. Metropolitan is objecting to the fact that it needs to be held liable for the lost money.

The new legislation will reiterate once and for all that the responsibility for all binder agreements, or white label insurance products as they are more commonly known, falls on the license holder. According to these terms, the license holder will be liable for any claims that relate to the insurance policies, including claims that arise should the white label company fail to comply with an agreement with the life assurance company.

In simpler terms, the insurance license holder will remain responsible for the compliance with the country's Long Term Insurance Act.

The new legislation in fact strengthens the position held by the Financial Services Board and clarifies any doubts that license holders may have on the issue

Update: Alabama Governor to Sign Bill Raising Auto Insurance Requirements

Some Alabama motorists may need to buy more auto liability insurance in a few months.

Gov. Bob Riley said he intends to sign legislation raising Alabama's minimum insurance requirements for the first time in 25 years.

The Legislature approved a bill May 8 that would raise Alabama's minimum limits for mandatory auto liability insurance from $20,000 to $25,000 for a single injury or death; $40,000 to $50,000 for multiple injuries or deaths; and $10,000 to $25,000 for property damage.

The bill, a compromise between plaintiff lawyers and insurance companies, raises limits that haven't been changed since 1983. The bill's sponsor, Sen. Roger Bedford, D-Russellville, said the changes are long overdue to protect motorists who are hit in traffic accidents.

"You certainly can't buy a new car for $10,000 today,'' he said.

The Legislature passed a similar bill last year, but the governor vetoed it because it would have taken effect immediately and insurance companies wouldn't have time to adjust.

Bedford and Rep. Marc Keahey, D-Grove Hill, redesigned the new bill so it will take effect in three months for new policies and six months for renewals.

"The only thing we had last year was the companies just didn't have enough time to implement it,'' Riley said in an interview Thursday.

The new minimums bring Alabama in line with the insurance requirements in Arkansas, Georgia, Mississippi, South Carolina and Texas.

Tennessee, Virginia and Kentucky have the same limits for injuries and deaths but smaller amounts for property damage. Florida and Louisiana have lower amounts across the board, and North Carolina's minimums are higher for injuries and deaths than those planned for Alabama, according to the Insurance Information Institute.

By Keahey's estimates, the higher liability requirements will affect less than 10 percent of Alabama's motorists and cause them to pay $20 to $30 extra per year.

At Alfa Insurance, spokesman Dave Rickey said 6.5 percent of the company's customers buy the minimum limits and would be affected by the bill.

The bill also raises the minimum amount of uninsured motorist coverage to match liability coverage.

Rickey said about 90 percent of Alfa's customers buy the minimum amount for uninsured motorist coverage. Alfa estimates the average customer would have to pay an extra $13.20 annually for the higher uninsured motorist coverage.

Uninsured motorist coverage is optional in Alabama. It kicks in when the driver at fault in an accident has no insurance or too little insurance to cover all the damage.

Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Progressive begins offering local auto insurance

The Progressive Group of Insurance Cos. said it will begin offering auto insurance to Massachusetts drivers at its website Progressive.com, starting today.

Ohio-based Progressive, which claims to be the nation's third largest auto insurer, said visitors to its website can take advantage of its comparison rating feature, which offers individual drivers accurate rates from Progressive and up to three top competitors.

The administration of Governor Deval L. Patrick last year undertook an ambitious overhaul of the Massachusetts auto insurance market, which was the last one in the country where rates were set by regulators. Under the new system, which recently went into effect, companies set their own rates and have greater flexibility to introduce innovative product features and discounts for different drivers

car insurance news,

Independent Agents Help You Understand The New Changes in Mass. Auto Insurance.
The Massachusetts auto insurance system will undergo sweeping changes on April 1, 2008. In an effort to ease the transition, Independent Insurance Agents want to make sure that you have a good understanding of the changes that will occur and how they may affect your auto insurance rates.

To assist you, massauto.com has assembled the answers to the most frequently asked questions about these changes. Click here for answers to your questions.

Check out Discounts, Credits and Policy Features.
We've also put together a chart of what the most popular companies are planning to offer on April 1st - like discounts, credits, and special policy features that may benefit you and your family. Click here for the chart..

Person To Person Service Makes All The Difference.
Unlike large, faceless corporations, Independent Insurance Agents are independent businesses located right in your community. They don't just "sell" you a policy. They are there for you day in and day out to provide the person to person service you want and deserve ... when you have questions, when you need to make changes in your policy, and, most importantly, when you have a claim.

What Every Consumer Should Know About Buying, Insuring or Renting a Car.
As an added benefit to the person to person service you receive from your agent, Independent Insurance Agents have developed several consumer guides that will simplify the complexities of buying an insurance policy, purchasing a new vehicle, or renting a car.

Is a six-month auto policy good news for you?
Maybe not! The Massachusetts Association of Insurance Agents (MAIA) has issued a press release to let consumers know they have a statutory right to a one year policy and warning of the pitfalls of six-month policies. To read the release

Ex-AIG Chief Greenberg Voted Against AIG Board of Directors Re-Election

Maurice "Hank" Greenberg, the former head of American International Group Inc, said in an interview on Wednesday he voted against the reelection of the company's board because directors have not made sure management met expectations.
"I represent the largest shareholders, and the shareholders own the company, not the board," said Greenberg, 83, in an interview with Reuters at his Park Avenue office.
Greenberg, through companies that he controls and a personal stake, holds about 12 percent of outstanding AIG shares.
"The performance is very, very poor," he added. "We voted against the board because (it) has a responsibility to make sure management meets their responsibility, which is returns to shareholders, and that has not been done."
An AIG spokesman said each director had received a majority of shareholder votes.
Earlier on Wednesday, at AIG's annual meeting, Chairman Robert Willumstad said the giant global insurer's directors stood behind management, including Chief Executive Martin Sullivan, fending off concerns raised by investors frustrated by two quarters of record losses.
Sullivan, who replaced Greenberg as chief executive about three years ago, told investors he realized there was frustration over record losses over the past two quarters, but pledged to turn things around.
Asked in the interview if Sullivan should be replaced, Greenberg said the results spoke for themselves.
"I think a lot of change has to be made," he added. He said he had a number of possible CEO candidates in mind, but declined to name any publicly.
Greenberg said he chose not to attend the meeting, but did follow the event, which was webcast. "It was almost a staged affair... It was a little more comprehensive and substantive in the past," he said.
In a May 11 letter, Greenberg asked AIG to postpone the meeting to give shareholders more time to digest the $7.8 billion loss recorded in the first quarter and what to do about it.
The losses stemmed largely from write-downs of the value of assets linked to subprime investments, but Greenberg said the problems at AIG were wider than problems with these investments.
Greenberg said AIG turned down his request for a delay of the annual meeting, citing too little time, and the high cost of rescheduling. "Given the amount of money that has been lost, that seems ironic," he said.
"I had hoped the board would recognize the unfairness in shareholders not having that (first-quarter) information before (sending in their proxies), or to be able to change their vote, or rescind their vote," Greenberg added.
While a handful of investors at the meeting did ask questions of AIG's board and management, Greenberg said he felt investors would have been more probing if they had had more time. AIG reported its first-quarter loss last Thursday, and held the annual meeting this week, as is customary.
Greenberg said he has not been back to his old work place in recent years, calling the environment "hostile."
AIG and Greenberg have been locked in a legal tussle since he quit, with numerous lawsuits outstanding between the two sides over a range of issues, including the shares held by an entity that Greenberg now controls.
Greenberg said he doesn't currently have plans to sell the AIG holdings that he controls, citing the low price.
AIG shares have fallen 45 percent over the past year. The shares closed 28 cents higher at $39.44 on Wednesday on the New York Stock Exchange.
Greenberg, who ran AIG for nearly four decades, parted ways with the insurer in 2005, after then-attorney general Eliot Spitzer and the SEC accused the company and him of financial misconduct.
After the split, Greenberg retained control of, and now runs, several entities that had been affiliated with AIG, including investment companies Starr International Co Inc and C.V. Starr & Co Inc, that together have assets of about $23.5 billion.
(Editing by Jeffrey Benkoe, Phil Berlowitz)

South Dakota High Court Says Auto Insurance Covers Gun Accident

The South Dakota Supreme Court says an auto insurance policy covers injuries caused when a rifle accidentally fired in a pickup being used to drive deer hunters to the field.
A 14-year-old boy was shot in the ankle November 2001 when a rifle accidentally fired in the back seat of a pickup in Beadle County.
Milbank Insurance Co. argued that the incident was not covered because it was not an auto accident.
In a 3-2 ruling, the Supreme Court upheld a circuit judge's ruling that said Milbank was responsible for covering the boy's injuries.

GAINSCO Reports 1st Quarter 2008 Results

DALLAS, May 15 /PRNewswire-FirstCall/ -- GAINSCO, INC. today announced net income for the first quarter 2008 of $0.2 million, or $0.01 per common share, basic and diluted. This compares to first quarter 2007 net loss of $2.6 million, or $0.10 per common share, basic and diluted.

Gross premiums written during the first quarter 2008 were approximately 11% below gross premiums written in the comparable 2007 period. Gross premiums written by geographic region for the quarters ended March 31, 2008 and March 31, 2007, were as follows:

Three months ended(dollars in millions)March 31,20082007Regions:Southeast (Florida, South Carolina)$30.331.6South Central (Texas)$12.615.8Southwest (Arizona, Nevada, New Mexico)$8.510.0West (California)$0.61.1Total$52.058.5

GAAP ratios for the quarters ended March 31, 2008 and March 31, 2007, were as follows:

Three months endedMarch 31,20082007Total Company:C & CAE Ratio (1)74.8%84.0%Expense Ratio (2)(3)25.8%23.2%Combined Ratio(2)100.6%107.2%Nonstandard Personal Auto:C & CAE Ratio (1)74.8%86.7%(1) C & CAE is an abbreviation for Claims and claims adjustment expenses,stated as a percentage of net premiums earned.(2) The Expense Ratio and Combined Ratio do not reflect expenses of theholding company, which include interest expense on the note payableand subordinated debentures.(3) Commissions, change in deferred acquisition costs, underwritingexpenses and operating expenses (insurance subsidiaries only) areoffset by agency revenues and are stated as a percentage of netpremiums earned.

The Company continues to adjust and settle claims associated with its runoff lines. For the first quarter of 2008, the Company did not record material development for claims occurring in prior accident years for runoff lines. During the first quarter 2007, the Company recorded favorable development for claims occurring in prior accident years for runoff lines of $1.4 million.

As regards the Company's nonstandard personal auto business, the Company recorded during the first quarter 2008 unfavorable development for claims occurring in prior accident years of $1.7 million. For the first quarter 2007, the Company recorded unfavorable development for claims occurring in prior accident years for nonstandard personal auto of $6.2 million. In the first quarter 2008, the unfavorable development for prior accident years included approximately $0.3 million related to extra-contractual claims.

As of March 31, 2008, the Company had $67.7 million in net unpaid claims and claims adjustment expenses ("C&CAE") (Unpaid C&CAE of $75.5 million less Ceded unpaid C&CAE of $7.8 million), compared to net unpaid C&CAE at December 31, 2007 of $66.0 million (Unpaid C&CAE of $74.7 million less Ceded unpaid C&CAE of $8.7 million). These amounts include net unpaid C&CAE in respect of the Company's runoff lines of $9.9 million at March 31, 2008, and $10.3 million at December 31, 2007. As of March 31, 2008, the outstanding inventory of runoff claims was 51, compared to 47 at December 31, 2007.

As of March 31, 2008, the Company's Shareholders' equity was $64.6 million, Subordinated debentures were $43.0 million and Note payable was $1.8 million. These compare to Shareholders' equity of $66.0 million, Subordinated debentures of $43.0 million and Note payable of $1.9 million at December 31, 2007.

Per common share amounts for all periods presented have been adjusted for the rights offerings in November 2006 and August 2005, as well as the reverse stock split in November 2005.

GAINSCO, INC. is a Dallas, Texas-based holding company. The Company's nonstandard personal auto insurance products are distributed through independent retail agents in Florida and South Carolina (Southeast Region), Texas (South Central Region) and Arizona, Nevada and New Mexico (Southwest Region), and through an independent managing general agency in California (West Region). Its insurance company subsidiary is MGA Insurance Company, Inc.

Some of the statements made in this release may be forward-looking statements. Forward-looking statements relate to future events or future financial performance and may involve known or unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.

These forward-looking statements reflect current views but are based on assumptions and are subject to risks, uncertainties and other variables which should be considered when making an investment decision, including, (a) operational risks and other challenges associated with rapid growth into new and unfamiliar markets and states, (b) adverse market conditions, including heightened competition, (c) factors considered by A.M. Best in the rating of our insurance subsidiary, and the acceptability of our current rating, or a future rating, to agents and customers, (d) the Company's ability to adjust and settle the remaining claims associated with its runoff business on terms consistent with its estimates and reserves, (e) the adoption or amendment of legislation, uncertainties in the outcome of litigation and adverse trends in litigation and regulation, (f) inherent uncertainty arising from the use of estimates and assumptions in decisions about pricing and reserves, (g) the effects on claims levels or business operations resulting from natural disasters and other adverse weather conditions, (h) the availability of reinsurance and the Company's ability to collect reinsurance recoverables, (i) the availability and cost of capital, which may be required in order to implement the Company's strategies, and (j) limitations on the Company's ability to use net operating loss carryforwards. Please refer to the Company's recent SEC filings, including the Annual Report on Form 10-K for the year ended December 31, 2007, for more information regarding factors that could affect the Company's results.

Forward-looking statements are relevant only as of the dates made, and the Company undertakes no obligation to update any forward-looking statement to reflect new information, events or circumstances after the date on which the statement is made. All written or oral forward-looking statements that are made by or are attributable to the Company are expressly qualified in their entirety by this cautionary notice. Actual results may differ significantly from the results discussed in these forward-looking statements.

(The GAINSCO, INC. and Subsidiaries unaudited Consolidated Statements of Operations and Other Information for the quarters ended March 31, 2008 and March 31, 2007 follow.)

GAINSCO, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share data)Three months endedMarch 31,20082007Net premiums earned$43,34051,463Net investment income2,1342,422Net realized gains81--Agency revenues2,9853,307Other income, net2652Total revenues48,56657,244Claims & CAE incurred32,41643,226Policy acquisition costs7,1779,424Underwriting and operating expenses7,8556,741Interest expense, net9391,023Income (loss) before Federal income taxes179(3,170)Federal income taxes12(620)Net income (loss)$167(2,550)Income (loss) per common share:Basic$0.01(0.10)Diluted$0.01(0.10)GAINSCO, INC. AND SUBSIDIARIESOTHER INFORMATION(In thousands, except per share data)Three months endedMarch 31,20082007Gross premiums written$51,96658,463GAAP RATIOS:C & CAE Ratio (1)74.8%84.0%Expense Ratio (2)(3)25.8%23.2%Combined Ratio (2)100.6%107.2%(1) C & CAE is an abbreviation for Claims and claims adjustment expenses,stated as a percentage of net premiums earned.(2) The Expense Ratio and Combined Ratio do not reflect expenses of theholding company, which include interest on the note payable andsubordinated debentures.(3) Commissions, change in deferred acquisition costs, underwritingexpenses and operating expenses (insurance subsidiaries only) areoffset by agency revenues and are stated as a percentage of netpremiums earned.

GAINSCO, INC.

CONTACT: Scott A. Marek, Asst. Vice President-IR, +1-972-629-4493, orRichard M. Buxton, Senior Vice President, +1-972-629-4408, both of GAINSCO,INC., ir@gainsco.com

IllinoisAutoInsurance.Com Helps Find Illinois Auto Insurance Through Local Agents or Online

CHICAGO, May 15 /PRNewswire/ -- Residents now have the option of comparing Illinois auto insurance rates through local agents or online. Through a network of hundreds of agents and carriers, http://www.illinoisautoinsurance.com/ lets visitors choose whether to conduct a rate comparison from multiple agents near them or from companies conducting business online.

The preferred method of purchasing auto insurance varies within consumers. A published survey last year indicated that roughly 30% of the population would not consider purchasing their next policy online due to the technicalities involved in a policy.

Those who enjoy the personalized service of an agent and prefer to speak to a live representative do not have to rely on traditional methods; instead, they can log on and complete one single questionnaire to have local agents complete for their business. This eliminates the searching process and helps consumers make a choice not only on availability, but on offered coverage and competitive premiums.

Reports show that about 60% prefer the convenience of purchasing their next policy online. The utilization of the Internet allows for comparisons to be conducted in a fraction of the time and comes with many additional benefits such as online policy management which includes making premium installments, requesting endorsements and checking policy status online.

Company representative Bill Pirro states, "We understand that Illinois residents have different preferences when it comes to shopping for auto insurance, that's why we offer visitors the option of comparing rates and purchasing a policy through local agents or online."

Shopping for competitive premiums allows consumers to ensure low rates. With record high premiums and a declining economy, consumers are back in the market looking for any savings they can get. Illinois residents can learn more by visiting http://www.illinoisautoinsurance.com/about/ and instantly finding the right insurer regardless of purchasing method preference.

http://www.illinoisautoinsurance.com

CONTACT: Martha Diaz of http://www.illinoisautoinsurance.com/,+1-909-868-0394

Web site: http://www.illinoisautoinsurance.com/

2008 Buying Guide

Convertible Buying Guide

Buying a convertible used to mean certain compromises had to be made to allow owners to enjoy the sun on their shoulders and the wind in their hair. Specifically, it meant a soft top that allowed a fair amount of noise into the cabin and a fussy tonneau cover that was a nail-buster to button down.

Today, no such sacrifices need be made — most modern soft tops have multiple layers of insulation and are automatically covered when lowered. And retractable hardtops, once available only to wealthy sun-worshippers, are now available in most segments, ranging from affordable sports cars to true four-seaters.

Convertibles Under $25,000
As much a fixture in this segment as Britney Spears is in the tabloids, the Mazda MX-5 Miata does pretty much everything well. Razor-sharp steering and handling, a peppy engine that revs gleefully to redline and a comfortable cockpit with simple controls are once again the successful formula for Mazda's rear-drive two-seater. And now, one even has the option of a retractable hardtop version of the Miata, which weighs a mere 70 pounds more than the soft top. Chief competition for the Miata comes from GM's Pontiac Solstice/Saturn Sky roadster twins. Though the Solstice and Sky offer sexier styling and more thrust (the latter by way of the turbocharged GXP and Redline versions), they lack the Miata's ultracommunicative connection to the road and high-quality interior.

Should you need room for a couple of kids but still want sports car reflexes in your drop top, consider the Mini Cooper convertible. Unlike the Cooper hatchback, the ragtop version hasn't been redesigned, but it still remains a strong choice. Whether one chooses the supercharged S version or less rapid standard Cooper, there's plenty of fun to be had if you enjoy driving a small, responsive car.

At opposite ends of the short-money drop-top spectrum are the Smart Fortwo cabrio and the Chrysler PT Cruiser. The former is a tiny, two-seat, 40-plus mpg commuter that's 3 feet shorter than a Mini. The latter offers a roomy four-seater cabin within its compact, retro-themed body, seats four and, with the available turbocharged engine, the PT convertible offers decent performance.

Convertibles Under $35,000
The selections in this segment are quite varied. If an old-school muscle car with retro good looks and the option of blazing acceleration appeals to you, then the Ford Mustang family should have something for you. Whether you choose the V6 cruiser or the supercharged V8-powered Shelby GT500, this stable of steeds offers an agreeable balance between handling and ride as well as a lot of performance for the money. Another sporty ragtop to consider is the Mitsubishi Eclipse Spyder. Not quite as athletic as the Mustang, the Eclipse (in GT form) is comfortable, quick and handles well, though it is saddled with a rather large turning radius and the backseat is essentially an upholstered package shelf.

If a refined, Euro-bred cruiser is more your thing, there is the sophisticated, neatly tailored Volkswagen Eos. Sporting impeccable fit and finish and a retractable hardtop, the Eos is the best of the hard-top four-seat convertibles in this price range. This Vee-Dub also provides respectable performance and is a decent value provided you go easy on the options. If a hardtop isn't a requirement, Toyota's Camry Solara convertible is similarly refined but has more usable rear seats. The Solara makes no sporty claims at all, instead offering a plush ride, an upscale cabin and tight build quality.

Pontiac's G6 retractable hardtop convertible is another alternative for consumers shopping in this price bracket, but its lack of chassis refinement, dearth of luggage capacity and so-so braking performance make it hard to recommend. It's a similar story with Chrysler's redesigned Sebring convertible, which now offers a retractable hardtop option (in addition to less expensive vinyl and cloth soft-top options). Although the Sebring's cockpit is largely free of turbulence with the top down, sloppy handling dynamics and cut-rate interior materials detract from the experience. To make matters worse, you can hear the folded steel top clattering around in the trunk.

Although it's relatively unchanged since its debut eight years ago, the Honda S2000 is still a desirable, elemental sports car. With its high-winding inline-4, close-coupled two-seat roadster design and performance-focused chassis, the rear-drive S2000 is something of a higher-strung Miata.

Convertibles Under $45,000
Shoppers have a number of enticing choices in this segment. If European design and road manners appeal to you, then Audi's TT two-seater is worth a serious look. More of a comfortable grand touring machine than a back-roads burner, the TT roadster impresses with its artful style, finely crafted cockpit, comfortable ride and competent performance. Available Quattro all-wheel drive makes the TT a good choice for enthusiasts who live in inclement parts of the country.

If, on the other hand, all-out performance is the priority, then the Nissan 350Z roadster won't disappoint. A ripping V6 matched to a firmly sprung, well-balanced and communicative chassis is the foundation of the Z. With its impressive driving dynamics and fuss-free soft top, the 350Z roadster presents a value proposition that's hard to ignore.

Four-place convertibles worth considering include the Volvo C70, which features a retractable hardtop as well as superbly comfortable seats and the latest safety features, including head curtain airbags that deploy from the door sills. Be forewarned that this Volvo is a cruiser and not a sporty drop top, and indeed its performance is somewhat tepid compared to the Saab 9-3. The latter Swede boasts sharper steering and a more lively driving experience, though it lacks its compatriot's metal top and exacting build quality.

Convertibles Under $60,000
Be forewarned: The BMW 3 Series convertible can get uncomfortably pricey once you start checking off option packages. However, even at its lowest trim level — and devoid of options — this is still one of the best four-place convertibles available at any price. A superbly balanced and flex-free chassis, an enthusiastic family of engines, tight build quality and a well-conceived retractable hardtop are the highlights of the latest 3 Series drop top.

Right up there with the BMW is Audi's A4 Cabriolet family, which includes the high-performance S4 and, new for 2008, the ultrahigh-performance RS 4 variants. Like the Bimmers, these Audis offer plenty of performance (though the A4, at least, has a much softer suspension setup), solid build quality and an impeccably trimmed cabin. They also offer the advantage of all-wheel drive, courtesy of Audi's rally-proven Quattro system.

Although typically more expensive, the Mercedes-Benz CLK-Class has won many hearts simply on the basis of its elegant styling. It lacks the Bimmer's retracting hardtop, but the four-seat Benz convertible does offer a solid ride and handling balance, a lineup of powerhouse engines and, of course, the prestige that comes with the three-pointed star.

In the roadster category, there are a number of German choices as well as a bargain-priced American. For a purebred roadster, the Porsche Boxster sets the standard. With an energetic midmounted flat-6, an athletic platform and timeless styling that's a nod to the 550 Spyder of old, the Boxster is a sweet confection for serious enthusiasts. Telepathic steering, strong brakes and superb balance make the Boxster a great companion on a sunny day filled with twisting two-laners.

Nearly equal to the Boxster in driving enjoyment, the BMW Z4 is typically thousands less than its chief rival. If you can take a shine to the questionable styling and go easy on the option packages, the Z4 represents a decent value. Completing the German trio is the Mercedes-Benz SLK. In typical Mercedes fashion, the SLK tends to be a bit pricier than its rivals and though it boasts a solid chassis, it doesn't have quite the same level of communication through the steering wheel. It does, however, sport a retractable hardtop, a claim that neither the Boxster nor Z4 can make.

Presenting so much value we're surprised it's not sold at Wal-Mart is the Chevrolet Corvette. Offering exotic car levels of performance at one-third to one-fourth the price, Chevy's icon also makes for a reasonable daily driver thanks to its comfortable ride, generous luggage capacity and impressive (for a 430-hp V8) fuel-efficiency.

Another consideration for sports car fans is the Lotus Elise. A tightly focused track car that just happens to be street-legal, the Elise adheres to the strictest sports car dictums — light weight, superb balance, a flex-free and communicative chassis and no frills. As much fun as it is, the Elise is best left as a weekend toy, due to its noisy, stiff ride and sparsely outfitted cockpit.

Convertibles Over $60,000
This segment is filled with a number of dream rides. Yet, going into the sixth year of its model cycle, the Mercedes-Benz SL-Class still impresses with its abundance of performance, luxury, styling and daily-driver usability. With the base SL now boasting nearly 400 horsepower and handling ability that belies its near two-ton mass, this grand tourer for two has no problem making time, be it on an interstate or a serpentine section of blacktop. The retractable hardtop transforms the car from coupe to roadster in short order. For those whose need for speed borders on the insane, the range-topping SL65 offers over 600 horsepower under its sleek hood.

For consumers seeking a more focused performance car, the Porsche 911 offers incredible communication between its steering wheel and the road, a frisky flat-6 that makes intoxicating music as it sings its way toward redline, and tidy body dimensions wrapped in classic styling that seems to get better year after year. Yes, many of Porsche's options have ridiculous prices, but when you make one of the most desired sports cars on the planet, you can get away with that.

With its low and sleek two-seat architecture, the Cadillac XLR may appear to be a sports car. But in truth this Corvette-derived luxury roadster is more of a grand touring car. A powerful V8 and a retractable hardtop highlight this Caddy's features list, but unfortunately, in this price segment it is outclassed by more athletic and somewhat more refined rivals. In a similar vein, the Lexus SC 430 is more of a cruiser than a luxury roadster, though it boasts faultless build and materials quality. And while its specs list the Lexus as a four-seater, its rear compartment is best left for the Neiman Marcus bags. In this subcategory of essentially two-seat luxury drop tops, the Jaguar XK line makes a strong argument with its solid chassis and mostly sexy styling, though its multifunction touchscreen control can be an exercise in frustration and some may take issue with the Jag's fishlike nose.

Among high-dollar four-seaters, the BMW 6 Series (and its even speedier M6 sibling) is hard to beat. A pleasing blend of performance and comfort, the 6 Series offers a handsome cabin and handling that's more sports car than four-place GT. But as with the coupe, the 6 Series convertible has some odd styling details and a fussy iDrive multifunction control interface.

Spring cleaning for insurance

While you're doing your spring cleaning this year, keep your eye out for your insurance policies. And when you find them, make some time to give them a good look.

Time to dust off your policies.
Like any other personal finance product, insurance policies need regular review and possible adjustment. Inadequate coverage can lead to major personal financial loss. If you haven't really examined your policies in years, you're not alone. A good insurance review can save you money and possibly head off financial disaster in the event of a loss.

Home insurance

Home insurance savings

Are you getting all the discounts to which you're entitled? If you've recently installed a security alarm, for example, you could save money on your home insurance. Other common discounts go to:

• Customers age 55 and over
• Long-time customers
• Customers who carry auto insurance with the same company
• Disaster-resistant building improvements


April showers bring spring . . . floods. And home insurance doesn't cover flood damage. Flooding can happen any time of year, but spring makes homeowners especially vulnerable. If you're inundated by water due to snow melt, heavy rains or a rising river, you're financially on your own unless you have flood insurance.

Flood insurance policies are available from most home insurers through a program administered by the National Flood Insurance Program (NFIP). The NFIP has defined specific coverages and rates. Premium estimates and policy details are easy to get from FloodSmart.gov.

Flood insurance can be relatively inexpensive, depending on where you live. For example, a homeowner in a low or moderate risk zone who wants the highest level of structure and contents coverage can choose $250,000 in structure and $100,000 in contents coverage for $1,251 annually; that goes up to $2,462 in high-risk zones and $5,358 in high-risk coastal zones. A variety of lower coverages are available depending on your budget.

If you live a zone judged low to moderate risk, you qualify for a Preferred Risk Policy (PRP). This lets you buy less coverage and save money. A homeowner can purchase a minimum of $20,000 building and $8,000 contents coverage for $112 a year ($25 more if there is a basement). There are flood policies available for renters and businesses, too.

Most Americans neglect to purchase flood protection. Yet your home has a 26 percent chance of flooding as opposed to the 9 percent chance of fire during the course of a typical 30-year mortgage, according to the NFIP. In fact, one-third of claims paid by the NFIP in 2006 were in "low flood risk" communities.

If water is rising around you now, it's too late. Flood insurance has a 30-day waiting period. For more, see Insure.com's flood section.

Are you planning on a spring building project? If you'll be adding an addition or making other major renovations, make sure your insurer updates your structure's relacement coverage amount to reflect new rebuilding costs.

Did you give or receive a special piece of jewelry this Valentine's day? It may be insured against theft only up to $1,000 on your home policy. Valuable items such as jewelry and art need to be "scheduled" separately in order to be fully insured.

On the other hand, if you've been paying for a $5,000 floater on a fur coat that's no longer worth that, cancel your floater and save yourself the money.

Shhh, do you hear that sound? Probably not. That's insurance companies quietly adding percentage-based deductibles to new and renewed home insurance policies in some areas of the country. In case of loss, you wouldn't pay the $500 or $1,000 deductible you originally signed up for; you'd pay 1 to 5 percent of your house-coverage amount before insurance kicks in.

Residents of hurricane and flood-prone regions like Texas and Florida are now familiar with percentage-based deductibles, as insurers seek to shift more of the claims burden to homeowners. But East Coast residents, where windstorms and hurricanes can also take their toll, don't have the same level of awareness. You and your neighbors may already have a percentage-based deductible in place and not know it.

If disaster did strike your home, would you be able to give your insurance adjuster a complete list of your possessions? Videotaping the contents of each room is one easy way to make a record of your belongings. Another convenient way is to use the free "Know Your Stuff" home-inventory software provided by the Insurance Information Institute.

Auto insurance

Auto insurance savings

Can you squeeze any other discounts out of your auto policy? See if you qualify for discounts on:
• Antilock brakes
• Low-mileage usage
• Air bags and other safety features
• Your good driving record or age (50 and up)


You can't control spiraling gas prices at the pump, but you can control your auto insurance costs. If your car is getting on in years, it might not be worth it to continue paying for collision and comprehensive coverages. Check your car's current used value and decide if the premiums are worth what you'd get back in the event your car is totaled or stolen.

Or, consider raising your deductible amount in order to lower your premiums, if you are able to pay a higher deductible out of pocket if needed.

Life insurance

Life insurance savings

If you're shopping for a new policy:

• Comparison shop online
• Consider term life as a way to get the most coverage for your dollar
• Improve your health before you're underwritten
• Keep a good credit rating, which can affect your premium rate
• Look at prices of "low-load" policies that are sold directly from life insurers.


If you already have a policy:
• Pay annually rather than monthly for overall lower premiums
• If you need to increase your life insurance, look at the cost of adding a rider to your current policy vs. buying another policy
• If your health has improved significantly since you purchased your policy, you may be able to have your premium rate adjusted to reflect your new underwriting category.


Probably no other insurance policy deserves more regular attention than your life insurance policy. After all, lifestyle changes impact your need for life insurance: marriage or divorce, new babies, new debts, paid-off debts or children graduating from college can make your coverage needs rise or fall.

Insure.com's Life Insurance Needs Estimator Tool can help you pinpoint your current recommended coverage amount.

If you have term life insurance, are you keeping track of when your policy expires? If it's been a while since you bought a 15-year term policy, it's time to start making plans for coverage beyond that point.

It's not just your policy that needs a look. How about your insurer? Is it financially healthy? Financial strength ratings are crucial for evaluating life insurers. Find out your company's Standard & Poor's rating with Insure.com's Insurance Company Ratings Lookup Tool.

Overlooked but important coverage

One of the most valuable coverages is disability insurance, which pays up to 60 percent of your income if you become disabled and cannot work. According to the Social Security Administration, a 20-year-old worker has a 3-in-10 chance of becoming disabled before retirement age. Disability insurance is most affordable when purchased through a group policy at work; another good way is to add a disability rider to your life insurance. Individual stand-alone policies are also available.