Online Auto Insurance: Size of Insurer Losses Highlights Need to Be Properly …

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Online Auto Insurance: Size of Insurer Losses Highlights Need to Be Properly Insured

Property-casualty insurers may have to pay more than $35 billion in claims from last year.

(EMAILWIRE.COM, January 04, 2012 ) Rancho Cucamonga, CA – The recent Insurance Information Institute (III) announcement that natural disasters may have cost insurance providers more than $35 billion last year also highlights the importance of being properly protected against the damage that Mother Nature can do, according to Online Auto Insurance (OAI).

From tornadoes to tropical storms and earthquakes, 2011 was a year of catastrophic weather-related events. Vehicle and property owners suffered major losses as a result of those events, and the insurers who had to pay out claims filed for damages on everything from North Carolina auto insurance policies to homeowner coverage in Missouri likewise suffered major setbacks.

According to federal weather experts, a dozen major catastrophes in 2011 racked up an estimated $52 billion in economic damages.

Source: http://www.ncdc.noaa.gov/oa/reports/billionz.html

But while putting your life back together following a natural disaster in which you suffered major losses to your home or automobile is tough, doing the same when you don’t have enough coverage is so much more difficult.

Because natural disasters have struck throughout the U.S. over the past year, OAI advises residents of all regions to look into purchasing greater amounts of vehicle coverage that will financially protect them in the event of an unforeseen event.

While most homeowner policies will pay many of the costs associated with storms and other severe weather, vehicle owners need to have policies that include comprehensive coverage in order to have that same peace of mind.

It will likely cost you a little bit more to obtain comprehensive coverage, rather than just the basic liability coverage, but it is also the only type of coverage that will let you rest easy, knowing that you’re properly insured for anything that bad weather can throw at you.

To read more about this and other safety and car insurance issues, go to http://www.onlineautoinsurance.com/north-carolina/ where you will find more information about the details of coverage in Minnesota.

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Article source: http://www.emailwire.com/release/78202-Online-Auto-Insurance-Size-of-Insurer-Losses-Highlights-Need-to-Be-Properly-Insured.html

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Category: Car Insurance