Category Archives: Business: Insurance

Press Releases from the Insurance world, What’s new, Popular, Trending and News Worthy. In the ever changing industry of Insurance.

The Impact of the Community Rating System


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Hurricanes Sandy and Katrina reeked havoc on our southern and eastern coastlines. With recent flooding along the Mississippi River and the near-miss of Hurricane Barry on the Gulf Coast is a reminder of the constant flood risk faced by communities and the need to be prepared for flood events.

In a new article released in the Applied Economic Perspectives & Policy, “Flood Insurance and Claims: The Impact of the Community Rating System,” Eugene Frimpong from East Carolina University and Ardian Harri, Daniel Petrolia, and John Cartwright from Mississippi State University look into what it would take to increase participation in the National Flood Insurance Program (NFIP).

Petrolia says, “We find a positive relationship between participation in the Community Rating System (CRS) and participation in the NFIP. However, we find that only those communities participating at the highest levels of the CRS realize real reductions in flood claims. So the policy discounts associated with CRS participation appear to be attracting more homeowners to insure, but only in very limited cases do the levels (and types) of CRS participation appear to lead to real reductions in exposure.

If you are interested in setting up an interview with Petrolia, please contact Allison Scheetz in the AAEA Business Office.

About AAEA: Established in 1910, the Agricultural & Applied Economics Association (AAEA) is the leading professional association for agricultural and applied economists, with 2,500 members in more than 60 countries. Members of the AAEA work in academic or government institutions as well as in industry and not-for-profit organizations, and engage in a variety of research, teaching, and outreach activities in the areas of agriculture, the environment, food, health, and international development. The AAEA publishes two journals, the American Journal of Agricultural Economics and Applied Economic Perspectives & Policy, as well as the online magazine Choices and the online open access publication series Applied Economics Teaching Resources. To learn more, visit http://www.aaea.org.

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Fargo named division manager for North American Title Co.’s Southern Nevada region


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Jeff Fargo, Division Manager, North American Title Co.’s Southern Nevada region

I have long been devoted to helping my customers apply social media, video, data mining and migration patterns to create substantial growth for their businesses and combining these efforts with States Title’s vision for the future of our industry will be a game changer for my customers.

North American Title Co. (NATC) has named Jeff Fargo division manager for its Southern Nevada region. Fargo brings real estate and title insurance experience to his position.

“Jeff’s real estate knowledge and leadership ability makes him uniquely qualified to lead our associates in what promises to be a most rewarding and productive future in this dynamic region,” said Chad Nichols, NATC’s Western region president. “His focus on the customer experience combined with his passion for technology is an excellent complement to our united efforts to build the title company of the future.”

Born into a real estate development family in Upstate New York, Fargo spent much of his early career overseeing his family’s real estate portfolio until moving to St. George, Utah, in 2005. There, he joined Coldwell Banker Commercial KGA as an associate broker. For the past five years, he worked as a marketing executive for First American Title, where, in 2018, he was awarded the national DPK Circle of Excellence award for year-over-year revenue growth.

“As a student of emerging technology, I am beyond excited to join the amazing team that is defining the future for our industry through machine intelligence,” Fargo said. “I have long been devoted to helping my customers apply social media, video, data mining and migration patterns to create substantial growth for their businesses and combining these efforts with States Title’s vision for the future of our industry will be a game changer for my customers.”

NATC is part of the States Title family of companies, a top 10 title insurance and settlement provider. Based in San Francisco, States Title is intelligently transforming closings by applying machine intelligence to make real estate transactions simple and efficient, enhancing the customer experience and enabling loans to close faster and at a lower cost.

Fargo works out of NATC’s Las Vegas office at 8485 W. Sunset Road, Suite 111, Las Vegas, NV 8911392130, and can be reached at (877) 430-6282.

About North American Title

With close to 1,000 associates and a network of branches from coast to coast, North American Title Company (NATC) is among the largest real estate settlement service providers in the United States. Through its relationship with an expanding affiliate network, NATC provides or is able to coordinate real estate settlement services in all 50 states. With more than 100 offices across the country, NATC offers a depth and breadth of local expertise and knowledge in many of the premier real estate markets. NATC’s parent company is States Title Holding Inc., headquartered in San Francisco, California. Founded by Max Simkoff and backed by a significant financial investment from Lennar and leading venture capitalists in Silicon Valley, States Title uses machine intelligence to deliver a simple and efficient title and escrow solution. Learn more at http://www.nat.com.

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New PrismHR Initiatives Help HROs Boost Market Penetration, Gain Greater Value from the PrismHR Relationship


“PrismHR Marketplace Access will take the marketing burden off the HRO so they can focus on their core business, while PrismHR Insurance Alliance ROI Calculator allows them to see tangible evidence of the true value of our leading Insurance Alliance products,” Gary Noke, President and CEO, PrismHR

Today at NAPEO’s 2019 Annual Conference & Marketplace, PrismHR, the leading HR technology software powering payroll, benefits and HR for small and medium-sized businesses across the U.S., announced key initiatives designed to increase revenue, achieve significant cost savings, and greatly improve client retention for its HR service providers in the company’s HRO partner network.

The two programs announced today include:


  • PrismHR Marketplace Access, a cooperative marketing program designed to increase client and worksite employee adoption of PrismHR Marketplace solutions by HROs’ small business customers and employees.
  • PrismHR Insurance Alliance ROI Calculator, a new online tool that illustrates the significant cost savings and increased revenue that HROs can achieve with Insurance Alliance partner products.

“Our HRO partners are looking for new ways to demonstrate value and to let their clients know about products that will make a real difference to them and their worksite employees,” said Gary Noke, President and CEO of PrismHR. “PrismHR Marketplace Access will take the marketing burden off the HRO so they can focus on their core business, while PrismHR Insurance Alliance ROI Calculator allows them to see tangible evidence of the true value of our leading Insurance Alliance products.”

PrismHR Marketplace

PrismHR Marketplace provides access to pre-integrated, validated connections from leading HR application providers. The Marketplace includes a wide range of solutions and service offerings ideal for small businesses and their employees.

PrismHR Marketplace Access

With PrismHR Marketplace Access, HROs can work directly with PrismHR to create direct marketing programs to their clients and worksite employees to improve awareness of PrismHR Marketplace solutions, increasing revenue and client retention. Participating Marketplace partners in the Marketplace Access Program can be found here.

PrismHR Insurance Alliance

The PrismHR Insurance Alliance enables PrismHR’s service provider customers to offer a range of A-rated, competitively priced ancillary insurance products to their clients, including voluntary life insurance, group accident insurance, dental, vision and more. In addition, enrollment in Insurance Alliance products is streamlined, and administration and reconciliation are also simplified. For more information, email insurance@prismhr.com.

About PrismHR

PrismHR’s mission is to fuel the growth of small and medium-sized businesses (SMBs) across the U.S. Our software, combined with our ecosystem of HR service providers, enables SMBs to manage payroll, benefits, and HR, leveling the playing field with large enterprises. Today, PrismHR software delivers world-class HR services to more than 88,000 organizations and over 2 million worksite employees, processing greater than $57 billion in payroll each year. PrismHR is located in Hopkinton, Mass. For more information, visit http://www.prismhr.com.

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Drivers Who Want Cheaper Car Insurance Must Avoid Doing The Following Mistakes


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“When applying for coverage, drivers should bring the relevant documents, be honest and ask questions about the policy’s terms and conditions”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

Cheapquotesautoinsurance.com has launched a new blog post that presents top car insurance mistakes that will cause problems to drivers seeking coverage.

For more info and free car insurance quotes online, visit https://cheapquotesautoinsurance.com/costly-auto-insurance-mistakes/


  •     Not having the right documents will prevent drivers for getting coverage. This is one major mistake which can be easily avoided. Make a call and ask what documents to bring. Drivers should prepare the car’s papers and provide them it when asked. Furthermore, bring proof of homeownership, graduating defensive/refresher courses, receipts for custom parts, VIN number and other documents needed to provide coverage and discounts.
  •     Buying coverage without fully understanding the terms of the contract is another big mistake. Carefully read each page of the contract and require additional explanations.
  •     It is recommended to get quotes before negotiations. Compare prices from multiple carriers and determine the average value. Now it is easy and fast to get online quotes. It only takes several minutes.

For more car insurance info, money-saving tips and free online quotes, please visit http://cheapquotesautoinsurance.com

Cheapquotesautoinsurance.com 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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Volly Bolsters Marketing Automation Platform With Addition of Digital Insurance Marketplace Provider Covered Insurance Solutions


Volly, an industry-leading provider of SaaS-based Marketing Automation, CRM and POS solutions for banks and mortgage companies, is excited to announce the addition of a new client to its Marketing Automation platform: Covered Insurance Solutions (Covered).

Covered is a digital insurance marketplace that gives homebuyers the ability to purchase and renew homeowners insurance in a simple, streamlined interface. Working through direct implementations with mortgage lenders and servicers, Covered provides their new and existing homeowners with multiple unbiased insurance quotes from top-rated local and national insurance carriers.

For borrowers, Covered removes stress from a traditionally challenging but necessary process. Those on the loan origination side benefit from a reduction in financing timeframes and closing issues.

“The Covered model is one we greatly admire and overlays perfectly with the Volly Marketing Automation platform,” said Volly CEO Jerry Halbrook. “Combining Covered’s business model with Volly’s leading-edge technology creates a customer journey that’s both highly customized and deeply personal to improve engagement and increase ROI.”

“Volly’s marketing automation platform accelerates Covered’s ability to market effectively and efficiently to our homeowners at every point in their homeownership cycle,” said Ross Diedrich, Covered’s CEO. “Our partnership with Volly delivers a valuable and essential product to even more consumers across multiple distribution channels with unique tailored messaging that resonates with each individual buyer for all their property and casualty insurance needs.”

About Volly

Volly simplifies lending technology and digital and print marketing solutions for banks and mortgage companies, including many of the top lenders in the nation. The Volly Platform is a fully integrated cloud-based Software-as-a-Service platform that combines Customer Relationship Management (CRM), Point of Sale (POS) and Marketing Automation with digital- and print-based marketing as well as custom websites and industry-leading personalized creative marketing services. For more information, visit http://www.MyVolly.com or call (866) 435-7050.

About Covered

Covered is an independent, tech-forward digital insurance agency focused on making insurance easy to understand and painless to purchase. Through its integrated online marketplace, consumers can quote, compare, and purchase the right insurance coverage at the best price in minutes when they need it and how they want it. Covered is a HousingWire 2018 & 2019 HW Tech100™ winner and one of Kairos’ “50 World-Changing Startups to Watch in 2019.” For more information, visit http://www.itscovered.com.

About New Capital Partners

New Capital Partners (NCP) is a private equity firm comprised of former operators headquartered in Birmingham, Ala. NCP partners with niche, tech-enabled services companies in the healthcare, financial and business services industries. Leveraging its extensive operational experience, NCP helps create significant value in portfolio companies by focusing on one core goal: Building Great Companies. For more information, visit http://www.newcapitalpartners.com.

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Finaeo hires Steve Henry as Chief Technology Officer


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Steve Henry, CTO Finaeo

“To solve this incredibly challenging problem, we’ll need to continue adding world-class talent to our team. Steve has a unique blend of technology, go-to-market and executive experience to help take Finaeo to the next level. – Aly Dhalla, CEO, Finaeo

Finaeo announced today that Steve Henry as joined the team as Chief Technology Officer.

Steve will be responsible for all aspects of the global product and technology organization, including platform and corporate infrastructure, business applications, product engineering and security. Steve will serve as a member of the Executive Team, reporting into Aly Dhalla, CEO and co-founder.

Founded in 2016, Finaeo is building the digital infrastructure to modernize and streamline the distribution of life and health insurance.

The archaic processes that exist in the industry today have made it difficult for insurers to scale business practices and improve the client experience. In the company’s recent funding announcement, Finaeo revealed their plans for launching a digital marketplace to help advisors streamline their workflow while enabling carriers to digitize their products and expand their market reach.

Deemed as the “Amazon of the Insurance Industry”, Finaeo’s marketplace will provide insurance advisors with direct access to carrier products, leveraging API integrations to accelerate quoting, underwriting and binding of policies using real-time data.

“To solve this incredibly challenging problem, we’ll need to continue adding world-class talent to our team. Steve has a unique blend of technology, go-to-market and executive experience to help take Finaeo to the next level. In addition, Steve is fundamentally dedicated to helping grow talent, which is a core tenant of our philosophy. We couldn’t be more excited to have Steve’s leadership and expertise on our team to help bring our vision to life.” – Aly Dhalla, CEO & Co-Founder, Finaeo.

Steve joins Finaeo from ScribbleLive, where he led the global engineering teams in his role as CTO. Parachuting into an active phase of business transformation, Steve consolidated product-engineering groups across multiple acquisitions, drove operational efficiencies, and spearheaded security and privacy initiatives across the organization.

“We are at a unique point in time where the insurance industry is at the apex of a major evolution. Finaeo is building technology to empower advisors to make data-driven decisions, enhance client relationships and improve the accessibility of insurance products in today’s digital world. It’s a very exciting challenge, and I’m thrilled to be part of the team that’s at the forefront of solving this problem”. – Steve Henry, CTO, Finaeo.

More about Finaeo:

Finaeo is a venture-backed insurtech building the digital fabric to connect and power the life insurance industry, globally. Finaeo connects insurance carriers, advisors and their clients through an integrated marketplace to streamline the “prospect-to-policy” experience. To learn more, visit https://finaeo.com/

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NFP Named in Business Insurance’s 2019 List of Best Places to Work in Insurance


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“We’re honored to receive this recognition from Business Insurance, but we’re even more proud of our employees who make NFP a great place to work,” said Doug Hammond, Chairman and Chief Executive Officer of NFP.

NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement, and individual solutions, today announced that it has been named in Business Insurance’s Best Places to Work in Insurance program for the third consecutive year. The award recognizes employers for their outstanding performance in establishing workplaces where employees can thrive, enjoy their work and help their companies grow.

“We’re honored to receive this recognition from Business Insurance, but we’re even more proud of our employees who make NFP a great place to work,” said Doug Hammond, Chairman and Chief Executive Officer of NFP. “Our people make us who we are and will always be our greatest asset. ‘It’s Personal’ is our guiding principle, informing every aspect of how we conduct our business. This foundation has enabled us to build a ‘PeopleFirst’ culture across the company and to maintain this culture even as we experience tremendous growth. We look forward to continuing this legacy in all that we do.”

“Being distinguished by Business Insurance for the third year in a row is a fantastic validation of our strategy,” said Mary Steed, Chief People Officer of NFP. “Implementing and upholding a ‘PeopleFirst’ mindset is grounded in our hiring of talented professionals, empowering employees with the right development tools, and a resolute commitment to diversity and inclusion. The NFP family is unified by a shared set of values rooted in respect, care and collaboration. This will continue to be the cornerstone of how we work with employees, clients and prospects, vendors, and communities.”

“NFP appearing on Business Insurance’s list of the Best Places to Work in Insurance for 2019 demonstrates that NFP has built a culture in which employees are supported and engaged, which benefits their customers and the employers’ growth and strategy,” says Business Insurance Publisher Peter Oxner.

Best Places to Work in Insurance is an annual sponsored content feature presented by the Custom Publishing unit of Business Insurance and Best Companies Group that lists the agents, brokers, insurance companies and other providers with the highest levels of employee engagement and satisfaction. Harrisburg, Pennsylvania-based Best Companies Group identifies the leading employers in the insurance industry by conducting a free two-part assessment of each company. The first part is a questionnaire completed by the employer about company policies, practices and demographics. The second part is a confidential employee survey on engagement and satisfaction.

About NFP

NFP is a leading insurance broker and consultant providing customized property and casualty, corporate benefits, retirement, and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,400 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 6th largest US-based privately owned broker, 5th largest benefits broker by global revenue and 7th best place to work in insurance (Business Insurance); 10th largest property and casualty agency (Insurance Journal); and 13th largest global insurance broker (Best’s Review).

Visit NFP.com to discover how NFP empowers clients to meet their goals.

About Business Insurance

Business Insurance is the authoritative news and information source for executives concerned about risk and the impact on their business. With information for risk managers, insurers, brokers and other providers of insurance products and services, Business Insurance delivers in-depth analysis on new and emerging risks, case studies of successful programs, market intelligence on trends, and guidance on how to capitalize on opportunities and overcome challenges.

In addition to a monthly print magazine, Business Insurance provides essential news via its website, BusinessInsurance.com; daily and weekly e-newsletters; and breaking news via email news alerts. To subscribe, please contact Business Insurance at info@businessinsurance.com.

Best Companies Group works with partners to establish “Best Places to Work,” “Best Companies,” and “Best Employers” programs on a national, state-wide and regional basis. Through its thorough workplace assessment using employer questionnaires and employee satisfaction surveys, Best Companies Group identifies and recognizes companies that have been successful in creating and maintaining workplace excellence.

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Exdion Solutions launches cutting edge Insurtech solution exclusively for small agencies


ExdionPOD LITE for small agents or small business policies leverage the same underlying technology components of our cutting-edge, AI solution ExdionPOD. Smart solutions like ExdionPOD LITE will make them stay competitive and relevant in future too

Exdion Solutions Inc, the leading Insurtech Company that helps Insurance Brokers and Agencies build a robust business using smart AI, Machine learning, cloud and other technologies, today announced ExdionPOD LITE, a cognitive-science based SaaS product. Through ExdionPOD lite, the small agent will benefit from a fast, simple and efficient way to manage their policy checking.

“We realized small Insurance brokers have a dire need for a product like ExdionPOD LITE with the right features at affordable cost”, said L S Ram, CEO of Exdion Solutions. “Today there are over 26,000 insurance agencies in the U.S and many small agencies would not check the policies due to investment or resource constraints. Even many larger agencies, who use ExdionPOD now, did not invest in checking their smaller business policies. Unfortunately, the E&O risk is heavy and agencies realize this only after it hits them. We are making it easier for smaller agencies to implement affordable & smart solution to manage policy checking through a flexible SaaS offering”

“Small agencies are an integral part of the insurance distribution business, and we are making it easy for them to leverage technology to grow their business and sustain client relationships. ExdionPOD LITE for small agents or small business policies leverage the same underlying technology components of our cutting-edge, AI solution ExdionPOD. Smart solutions like ExdionPOD LITE will make them stay competitive and relevant in future too”, said Dan Narayan, Vice President, Business Development, Exdion Solutions.

In addition to helping small insurance agencies with robust policy checking process, ExdionPOD LITE is:


  •     Fast, accurate, and scalable
  •     Mitigates E&O up to 100
  •     Customizable and E&O focused checkpoints delivered as a simple checklist
  •     Continuously evolves with business, longer term returns
  •     Manage documents across formats
  •     Real time dashboard providing policy level details
  •     Easy adoption, no disruption needed
  •     System agnostic, easy integration with AMS


For more information on ExdionPOD lite for small agencies and to start using the product, please get in touch with support@exdionpod.com

About Exdion Solutions

Exdion Solutions is a consulting and technology led transformation solution company that is helping Insurance agencies and brokers prepare for digital operations and 24/7 customer engagement. Exdion delivers transformational excellence through strategic levers that include consulting, technology, robotic process automation, artificial intelligence and data science products. Exdion Solutions not only helps Insurance agencies navigate through current business contours but help builds them as “agencies of future” using sustainable & affordable solutions.

Contacts

Dan Narayan VP – Business Development,

469-277-8184 (O) 469-331-6251 (D) | 201-904-6716 (M)

dan_n@exdion.com | http://www.exdion.com

7700 Windrose Ave, Suite G 300, Plano, TX – 75024

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Teen Drivers can Save Car Insurance Money if They Follow the Next Tips


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“Teens can reduce the financial burden represented by the auto insurance. Choosing the right coverage options and keeping a responsible driving behavior will help a lot”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

Cheapquotesautoinsurance.com has launched a new blog post that informs teen drivers how to get affordable car insurance.

For more info and free quotes, visit https://cheapquotesautoinsurance.com/how-to-get-cheaper-car-insurance-for-teens/.

Teens are aware that insurance rates are extremely expensive. Their lack of experience behind the wheel and risky behaviors associated with age will make any insurer consider teens high-risk drivers. However, there are several ways to lower the costs.

Check if being added to a family plan is an advantageous deal. In this way, the teen may take advantage of several discounts offered to his parents. However, this idea may backfire, since some companies may rate the teen to all available vehicles, thus increasing the overall costs. It is wise to get online quotes, talk with insurance reps and compare costs.

Being a safe driver is extremely important. The first six months of driving for a teen are critical for lowering the car insurance rate. If he/her manage to keep the record clean for the first six months, the insurer may lower the costs upon renewal.

Students with good grades will receive a discount. A 3.0 grade point average or higher is enough for most insurers to be eligible for this discount that can range from five to ten percent.

This blog post describes more ways to save money on car insurance, including enrolling in defensive driving classes or letting the insurer monitor the teen’s driving habits.

For more car insurance info, money-saving tips and free online quotes, please visit http://cheapquotesautoinsurance.com.

Cheapquotesautoinsurance.com 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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Why Drivers Should Keep The Same Car Insurance Company?


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“Drivers can be easily tempted to switch their car insurance providers. Before doing that, drivers should carefully analyze if the switch is worth it”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

Carinsuranceplan.org has launched a new blog post that presents the main reasons for drivers to stay with the same car insurance company.

For more info and free online car insurance quotes, please visit https://carinsuranceplan.org/top-reasons-to-stay-with-the-same-carrier/

Commercials that encourage policyholders to switch their insurance carrier, can be seen everywhere. Many drivers are tempted by the possibility of obtaining lower insurance rates and they consider to make the switch. However, this is not the case for all drivers. Before switching carriers, policyholders should carefully analyze what they will gain and what they will lose.

The main reasons to stay with the same carrier, are the following:


  •     Obtain renewal discounts. Policyholders should ask about this discount. Insurance companies offer small discounts for drivers that stayed loyal to them for a number of years.
  •     Safe driver discount. Insurance companies wish to keep safe drivers as their customers, as long as possible, since they tend to be cheaper to insure. Many insurance companies offer safe drivers discounts to those customers that remain accident-free for a number of years. If they switch to a new insurance provider, drivers will have to wait for several years before being eligible for a safe driver discount.
  •     Advantageous bundling policies. Bundling policies are pretty common. Many policyholders bundle their car insurance with the homeowner’s insurance. If the current insurance provider offers a great discount on the bundled policy, drivers should think twice before switching carriers.
  •     Accident forgiveness. Some insurance companies offer an option called accident forgiveness to safe drivers. Accident forgiveness will prevent the premiums paid by a driver to increase, after the first time they are involved in an accident. To earn accident forgiveness, drivers will have to drive safely for several years.

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

Carinsuranceplan.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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