“The coronavirus outbreak has affected nearly every corner of American citizens’ lives. The car insurance companies and drivers are facing new realities and they need to adjust”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

LOS ANGELES (PRWEB)
April 24, 2020

Compare-autoinsurance.org has launched a new blog post that explains how the current COVID-19 pandemic is affecting the car insurance industry.

For more info and free car insurance quotes, visit https://compare-autoinsurance.org/what-you-need-to-know-about-your-car-insurance-in-this-period-of-coronavirus-outbreak/

The effects of the coronavirus for the car insurance industry are already quite severe. Many drivers are quite concerned about their abilities to pay their next insurance bills. Fortunately, many providers have understood the severity of the current situation and are offering payment relief, halting insurance cancellations, and providing online claims processing. Some of them are even providing partial premium refunds because many consumers aren’t driving very much due to the COVID-19 outbreak.

No one could have anticipated the damages done by the current crisis. For his reason, the car insurance industry and the drivers are adapting and are making a few changes:

• Failure to pay insurance premiums on time no longer leads to policy cancelation. Insurance providers and their regulators realize these aren’t normal times due to the coronavirus outbreak. Insurance companies are offering new programs and procedures to assist drivers who may have suffered a job loss, reduced hours, or medical issues. Drivers who need assistance should contact their insurers for help and guidance.
• Car Insurance companies are offering extended grace periods. Given the current situation, most insurance providers are extending grace periods and halting cancellations for customers who can’t make their payments. Many car insurance providers have announced case-by-case programs to assist customers who have financial troubles.
• Switching to a new insurer is not recommended. Drivers can’t just simply switch to a new insurer and obtain cheaper premiums. However, in this involuntarily pause caused by the coronavirus outbreak, drivers can research their insurance options and check if they need to make changes to their coverages, insurance company, or deductibles.
• Drivers who are no longer using their cars to drive to work can get a discount. Drivers should contact their insurers to see if they can dial back the declared mileage until the crisis is over. Many insurance companies have already announced automatic premium rebate programs.
• Canceling coverage during this time should be avoided. Most drivers still need to drive their cars to grocery stores or to medical appointments. Cars can still get stolen or damaged by natural events like storms, floods, or tornadoes. Also, insurance providers don’t like to see lapses in coverage, and they can raise their premiums after the crisis is over.
• The current crisis doesn’t affect the ability to file a claim. While the coronavirus pandemic is no reason for affecting the driver’s ability to file a claim and get the car repaired, this crisis can cause some delays. Most insurance providers are offering online claims portals where drivers can upload documents, photos of the vehicle, and any property damage. Also, claims adjusters may ask drivers to shoot videos that highlight vehicle damages, so they can appraise the damages remotely.
• Dealing with a collision or with a police stop has changed. Drivers should perform all of the duties that are required to do by law while trying to put as much distance between themselves and the other driver as possible. They can do that by placing their documents — driver’s licenses, registration, and insurance cards — on the hood of their cars, then letting the other party photograph them with their smartphone, then doing the same with their documents. While being stopped by the police, drivers should do exactly what they are told to do.

For additional info, money-saving tips and free car insurance quotes, visit https://compare-autoinsurance.org/

Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

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“The coronavirus outbreak has radically changed the car insurance industry. Fortunately, many insurance providers have already adapted and can solve their customers’ problems regarding their insurance policies”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

LOS ANGELES (PRWEB)
April 24, 2020

Car insurance is essential financial protection for drivers in case they get into a car accident that makes them liable for damage, or in case their vehicles get stolen or damaged. As long as the premium is paid, the insurance is active and the drivers are protected. However, given the COVID-19 pandemic, many drivers are wondering how their car insurance policies will be affected or if they should drop some of the coverage.

When dealing with car insurance and with car insurance companies, drivers should know that many things have already changed. The most important things that drivers need to know are the following:

• 
  How car insurance policies have changed during the coronavirus outbreak. Most of them haven’t changed at all. However, many drivers can expect to get refunds or paybacks from their insurers given the fact that there are fewer cars on the roads and there is a decreasing number of accidents. Even though drivers are likely to travel less miles in this period, they are advised to keep their policies and do not make any changes in their coverages.
• How to contact the insurance provider. In order to keep customers and employees safe during this uncertain time, many providers are enforcing new work from home policies. Depending on the insurance company, drivers have several options to contact them. Most insurers offer a 24/7 emergency hotline, or they can be contacted through their websites, mobile apps, email, and live chat.
• How insurers are responding to the current crisis. Most insurance companies have already taken several measures to deal with this pandemic. Many of them are offering paybacks to their customers. Other measures include billing support, temporary payment extensions, decreased insurance rates, suspension of policy cancelation or text message only claims.
• How to handle the current policy. Given the current coronavirus outbreak, most drivers are keeping their cars in a garage and they can be tempted to drop optional coverages like comprehensive or collision. However, drivers who still need to drive should consider that their cars could be damaged, stolen, or totaled in an accident, even if there are fewer cars on the road due to COVID-19 outbreak. Drivers who are planning on not driving at all for a long time, can put their vehicles in storage and keep only comprehensive insurance.
• How to file a claim. Depending on the insurance provider, drivers can file a claim via the insurer’s website, over the phone, or by using a mobile app. Once a claims adjuster is assigned, the drivers can work with them virtually. Usually, the adjuster will request a video call to survey the damage.

For additional info, money-saving tips and free car insurance quotes, visit https://compare-autoinsurance.org/.

Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

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“We are thrilled to add the Fix team to Driven Brands despite the current business climate. Our word and reputation for being good partners are incredibly important to us. We have never been more optimistic about the long-term prospects for FUSA and the Driven Brands portfolio overall.”

CHARLOTTE, N.C. (PRWEB)
April 23, 2020

Driven Brands, North America’s largest automotive services company, today announced its acquisition of Fix Auto USA (FUSA) and Auto Center Auto Body, Inc. (ACAB). The addition adds nearly 150 franchised and ten company collision repair locations to the Paint, Collision & Glass segment of Driven Brands.

The acquisition of FUSA and ACAB continues Driven Brands’ growth in the collision repair space. All locations will retain their current Fix branding and join the Paint, Collision & Glass segment, which includes the CARSTAR, Maaco, ABRA and Uniban brands. Driven Brands will continue to grow in the collision space leveraging its great franchisees, insurance carrier relationships, proven leadership, and recognized operational platforms.

“We are thrilled to add the Fix team to Driven Brands despite the current business climate. Our word and reputation for being good partners are incredibly important to us,” said Jonathan Fitzpatrick, CEO of Driven Brands. “We have never been more optimistic about the long-term prospects for Fix Auto USA, all of our businesses in the paint, collision and glass segment, and the Driven Brands portfolio overall.”

Michael Macaluso, Group President of Paint, Collision & Glass, will oversee FUSA and ACAB. Paul Gange will join the Driven Brands team and remain as President of FUSA, managing the franchise business. Erick and Shelly Bickett will also join Driven as operating partners for the company-owned ACAB locations.

“After years of growing Fix Auto USA, we are thrilled to be part of Driven Brands, who completed the acquisition despite the tumultuous business climate,” said Paul Gange, president and CEO of Fix Auto USA. “We are excited to continue building our organization with the strength and support of Driven Brands behind us.”

“Driven Brands’ mission and unwavering commitment to its consumers, franchisees, employees, and industry partners align with our vision,” added Shelly and Erick Bickett, owners of Auto Center Auto Body, Incorporated. “We look forward to the many benefits that our two organizations and our franchisees will gain from one another, including industry-leading solutions tailored for our customers. There is exciting growth ahead. We look forward to working with Driven Brands as leaders in the collision repair industry.”

Since affiliates of Roark Capital acquired Driven Brands in 2015, it has executed 38 acquisitions, including Fix Auto USA and Auto Center Auto Body, Inc. Fueled by these acquisitions and strong organic growth, Driven Brands continues to expand across its automotive segments, increasing the brands’ footprint to over 3,250 locations across North America.

About Driven Brands

Driven Brands™, headquartered in Charlotte, NC, is the parent company of some of North America’s leading automotive service brands including Take 5 Oil Change®, Meineke Car Care Centers®, Automotive Training Institute™, Maaco®, CARSTAR®, ABRA®, Uniban™, 1-800-Radiator & A/C® and PH Vitres d’Autos™. Driven Brands has over 3,250 centers across the United States and Canada, and combined, all businesses generate more than $3.4 billion in system sales and service approximately 9 million vehicles annually. For more information, visit drivenbrands.com.

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BOULDER, Colo. (PRWEB)
April 23, 2020

Floify, the leading provider of digital mortgage technology, announced today it has released their new hybrid e-closing solution. This highly anticipated addition to the company’s robust point-of-sale system helps enterprise lenders stay ahead of evolving market conditions and appeal to their consumers’ appetites for digital offerings by enabling borrowers to electronically sign non-notarized portions of their mortgage closing package in advance of their in-person closing appointment. The result is a more focused signing session where only the necessary documents that need to be wet signed are presented, so borrowers can get in and out of the closing office in a matter of minutes.

Floify’s new hybrid e-closing solution builds upon the existing fundamentals of the company’s Disclosure Desk solution, which leverages an integration with DocuSign e-signature and a lender’s loan origination system (LOS), to provide borrowers with a smooth and simplified disclosure signing experience within the Floify point-of-sale portal. To enable this streamlined workflow, hybrid e-closing automatically identifies the non-informational, non-wet-sign forms within the closing package and makes them available for e-signature within a borrower’s Floify dashboard. Borrowers are then able to review the selected package in advance of a signing period that is calculated based on the LOS’ assigned closing date.

“Floify’s hybrid e-closing offering will not only provide loan originators with the closing solutions they need in this economy – where social distancing is being encouraged – but also allow them to better serve their tech-savvy borrowers,” said Floify CEO Dave Sims. “Our company is excited to equip lenders with the industry’s most advanced digital mortgage solutions to help reduce origination times, increase profit margins, and get their borrowers past the mortgage closing table in record time.”

Additional features, which the company will continue to roll out in the coming months, will further provide mortgage lenders with advanced capabilities designed to eliminate pain points and make manual components of the process more pleasant and efficient for lenders and borrowers alike.

With more than one million registered users, Floify’s point-of-sale system was designed to be an intuitive, flexible and affordable platform that simplifies how lenders collect, verify and manage loan documents, track loan progress, and communicate with borrowers, agents and other stakeholders. When using Floify to automate the lending process, enterprise lenders have reported getting borrowers to clear-to-close up to 7.5 days faster.

About Floify:

Floify is a digital mortgage automation and point-of-sale solution that streamlines the loan origination process by providing a secure application, communication, and document portal between lenders, borrowers, referral partners, and other mortgage stakeholders. Lenders use Floify to collect and verify borrower documentation, track loan progress, communicate with borrowers and real estate agents, and close loans faster. Floify is based in Boulder, Colorado. For more information, visit the company’s website at floify.com or on social media at Facebook, LinkedIn or Twitter.

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“Live Assured isn’t just a tagline. It’s our promise to be here for our customers, protecting what matters most, especially during this time of uncertainty.”

NEW BERLIN, N.Y. (PRWEB)
April 22, 2020

As part of its ongoing efforts to help customers throughout the COVID-19 pandemic, Preferred Mutual (“Preferred Mutual”) Insurance Company today announced its Stay Home, Stay Assured Auto Program, which will provide over 65,000 customers a 15 percent credit on their April and May personal auto insurance premiums.

“During this difficult time, Preferred Mutual is pleased to be able to alleviate some of the financial hardships our customers are facing,” said Christopher Taft, President and Chief Executive Officer. “Live Assured isn’t just a tagline. It’s our promise to be here for our customers, protecting what matters most, especially during this time of uncertainty.”

The credit will be given to New York and Massachusetts personal auto policyholders as of April 30, 2020.

No action is needed to receive the credit; policyholders will automatically receive their 15% premium credit via check in the coming weeks. Preferred Mutual estimates the Stay Home, Stay Assured Auto Program will distribute $2.5 million back to our customers.

The Stay Home, Stay Assured Auto Program is the latest step we have taken in our commitment to providing exceptional service and support to customers during COVID-19. We are offering flexible payment options, waiving late fees, and extending personal auto coverage at no cost to individuals delivering food or medicine.

Community support is also a priority for Preferred Mutual, as employees and partners work together to provide assistance to frontline workers, local food banks, as well as other organizations that address humanitarian issues.

About Preferred Mutual

Preferred Mutual Insurance Company provides property and casualty insurance coverage to more than 232,000 individual and business customers through an exclusive network of more than 500 independent agents throughout New York, New Jersey, Massachusetts and New Hampshire. In business since 1896, Preferred Mutual is rated “A” by A.M. Best Company and is headquartered in New Berlin, New York. Learn more at http://www.preferredmutual.com.

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Motus Insurance Services Logo

“Insurance and a strong economy are critical to resiliency after a catastrophe,” said Dan Wallis, CEO and Founder of Motus Insurance. “We have just seen the crippling economic effects from the coronavirus catastrophe when there was no insurance backstop.”

LOS ANGELES (PRWEB)
April 22, 2020

Motus Insurance Services, which has introduced an earthquake insurance program for California condominium associations and unit owners, released an analysis today finding that multi-family structures are the most vulnerable to earthquake damage—and dangerously so given the current pandemic.

California is far more vulnerable to a major earthquake than it was in 1994 – the last time a significant earthquake struck a populated area in the state. The state’s growing dependence on multi-family structures to meet its housing needs is a major driver of that vulnerability. This growth in multi-family structures combined with a drop in insurance coverage protecting those structures puts California at risk of significant economic damage when the “big one” strikes.

The 1994 Northridge Earthquake, which measured 6.7 (in the “moderate” range) caused approximately $20 billion of the damage to residential structures, with damage heavily concentrated among multifamily units including condos, townhomes and apartments.

While multifamily structures represented 22% of the California housing stock in 1994, they accounted for 84% of damaged units and 72% of “red-tagged” units.

Since 1994, multifamily residential units in California have grown from 2.6 million to approximately 5.4 million units today – more than doubling the most vulnerable segment of the State’s residential housing stock.

In 1994, insurance played a key part in recovery from the earthquake. Out of the $20 billion damage to residential structures, insurance paid out $12 billion. At that time, 25-35% of condo associations had a master earthquake insurance policy in force. Furthermore, 35% of individual condo owners had an individual earthquake insurance policy. This allowed insurance to play a major role in recovery and helped prevent a major natural disaster from triggering a major economic one.

Today, however, less than 10% of condo associations have a master earthquake insurance policy and less than 5% condo owners buy an individual policy – and individual policies available cannot provide condo owners with full coverage. While the state has seen rapid grown in vulnerable multifamily residential structures, a much smaller fraction of those structures have insurance.

“Insurance and a strong economy are critical to resiliency after a catastrophe,” said Dan Wallis, CEO and Founder of Motus Insurance. “We have just seen the crippling economic effects from the coronavirus catastrophe when there was no insurance backstop. At this moment, California has never been more vulnerable to economic ruin. California’s chronic housing shortage has forced a dramatic increase in the development of condos over the past 30 years. We know from the ‘89 and ‘94 that condos are the most vulnerable to earthquake damage – and unlike in 1994, less than 5% of condo owners have earthquake insurance.”

And a major earthquake striking California is long overdue: Dr. Lucy Jones, aka “The Earthquake Lady,” has stated that California needs to be ready for an earthquake in the 7.0 – 7.8 range, which is a multiple of the magnitude of Northridge. With multifamily fairly evenly split between apartments and condos, this would mean a loss of ~$45 billion to condos alone. Since only ~5% of condos have insurance, and the insurance available to condo owners can’t provide full coverage, this entire $45 billion exposure is effectively uninsured.

Motus Insurance has developed a solution that allows condo owners to purchase the quality coverage they need to protect their homes: the Motus Opt-In Master Earthquake Program.

Before Motus, approximately 2.5 million condominium owners in California did not have access to adequate earthquake insurance because their condo associations have failed to purchase a master earthquake policy. Only a master policy can fully cover damages to residential buildings, foundations, garages, underground pipes and other common areas – but less than 10% of California associations have a master policy due to budget considerations.

The Motus Program allows boards to get all the benefits of a traditional master policy without straining the association budget. When the California Department of Insurance approved the Motus Program, the barriers between insurance carriers and condo owners were finally removed – allowing condo owners to access the coverage they need.

“Today, as the world copes with COVID-19, the impact of a catastrophe where there is no insurance becomes very clear: severe economic damage, resulting in what is likely to be a long road to recovery,” said Wallis. “Insurance is a critical element of any disaster preparedness plan, both for individuals and for the economy as a whole, and proper coverage is something condominium boards and unit owners should carefully consider.”

About The Motus Solution

The Motus Opt-In Earthquake Program is designed to bring all the benefits of a traditional master earthquake insurance policy to the more than 30,000 associations and over 2.5 million condo owners who are not covered by one.

Only a master earthquake policy can allow a condo owner to fully protect the equity in their home. This is because only a master policy can fully cover damages to residential buildings, foundations, garages, underground pipes and other common areas within the community. Traditional unit owner policies (which are only available to about 1 million of the over 2.5 million condo owners who do not have a master policy) were designed to supplement a traditional master policy – not replace the coverage they provide.

Each Motus Program is a custom-built master policy based off the specific exposures of the association. Once the board approves the Motus Program for its association, each unit owner then has the option to purchase their pro-rated rated share of a master policy – covering unit interiors, residential buildings and common areas.

To learn more about Motus Insurance Services, visit http://www.motusins.com

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This expert panel embarks upon a discussion of key elements of risk management.

CHICAGO (PRWEB)
April 21, 2020

About the Series: There’s one type of contract that virtually every business in the United States enters into each and every year: their insurance contract(s). Despite being bound by and paying (sometimes handsomely) for these contracts, they’re not always well understood by the business. Questions as fundamental as what risks should be insured (v. self-insured or mitigated via contract) and for how much or what losses will actually be covered and at what value are simply not commonly understood. This webinar series teaches business owners, executives and their trusted advisors what they should know about their property & casualty insurance so they understand how best to protect their assets and people in the most cost effective manner.

About the Episode: This expert panel embarks upon a discussion of key elements of risk management such as the 5-Steps of the Risk Management Process, Understanding 3 Main Types of Loss Exposures, Measuring Loss Exposures and 5 Types of Risk Control. We’ll discuss Insurance Distribution, Wholesale v. Retail Insurers and Policies to give a business owner an understanding of what to look for in a carrier, a broker and how underwriters operate. We’ll also review some general best practices for Safety and Loss Control applicable to many businesses. In light of current circumstances, we’ll discuss safety measures for employees working from home.

To learn more and register, click here.

The webinar will be available on-demand after its premiere. As with every Financial Poise Webinar, it will be an engaging and plain English conversation designed to entertain as it teaches.

About Financial Poise –

Financial Poise has one mission: to provide reliable plain English business, financial and legal education to investors, private business owners and executives, and their respective trusted advisors. Financial Poise content is created by seasoned, respected experts who are invited to join our Faculty only after being recommended by current Faculty Members. Our editorial staff then works to make sure all content is easily digestible. Financial Poise is a meritocracy; nobody can “buy” their way into the Financial Poise Faculty. Start learning today at https://www.financialpoise.com/

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