Ride Sharing: Know The Risk Before You Share The Ride
The Cost of a DUI
Ride-sharing companies that use smartphone apps to match drivers with riders have become popular transportation alternatives. Startups like Uber, Lyft and Sidecar created what they call “no hassle” ways for people to get from point A to point B.
However, many drivers for these startups may not understand the important role of auto insurance.
Proposition 103: How It Changed California's Insurance Regulatory Landscape
Having one more for the road might cost you more than you think. Everyone knows drinking and driving is a dangerous choice – causing injuries, property damage and even death – but most people don’t calculate the financial consequences of driving under the influence of alcohol or drugs.
The potential costs of a DUI are staggering. From court costs, fines and attorneys' fees, to traffic school, probation and higher insurance premiums, you can expect to pay $10,000 or more for the experience.
Auto Insurance 101
Proposition 103 was a California ballot initiative passed by voters by a narrow margin – 51 to 49 percent – in 1988. At the time of its passage, the state’s auto insurance rates were rising. To reverse that trend, consumer advocates and other proponents of Proposition 103 felt the California Department of Insurance (CDI) should have more regulatory power.
How to Shop for a Safe Car
Auto insurance protects against financial loss if you are involved in a collision. It is a contract between you and the insurance company. The insured agrees to pay the premium, or cost of insurance, in exchange for the insurer’s agreement to pay for losses defined in the insurance policy.
In California, auto insurance is regulated by the California Department of Insurance ensuring insurers adhere to laws pertaining to rates and business practices.
Car crashes claimed more than 34,000 lives in 2012 according to estimates from the National Highway Transportation Administration (NHTSA), an increase of 5.3 percent over 2011. While the best way to minimize the effects of motor vehicle accidents is to prevent them from happening in the first place, the second best way is to drive safer cars.
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