A blog post from insurancequotes.com suggests that Detroit might have some of the most expensive car insurance in the country. The cost of insuring a car in Detroit came in at a massive 165% higher than the national average. That makes it the most expensive of the largest 25 metro markets in the USA. The cheapest was Charlotte, North Carolina, where they pay 43% less than the national average.
Insurance industry experts suggest that population density plays a role in determining which markets have higher or lower auto insurance costs. Basically, the more people on the road where you are driving, the more likely it is that an accident will occur. That’s why you wind up with New York and Los Angeles near the top of the list.
Other areas like Miami don’t have the same levels of traffic as New York, but they do have a problem with cars being stolen. Another factor to consider is the type of cars being driven in the area. In some parts of Miami there are a large number of expensive luxury cars being driven. It’s a lot more expensive to repair a ding on a Lamborghini than it is a Ford.
Detroit has it’s own reasons for being so very expensive.
1) It is a no-fault auto insurance state. Insurers must pay people even when they were at fault in the traffic accident. 2) The state compels insurers to provide lifetime medical coverage for injuries results from auto accidents.
While it costs a lot to insure your vehicle in Detroit, it’s important to remember that many other costs of living are cheaper than comparable metro areas in the USA. But for citizens of Detroit, it’s enough to make them consider selling the car and taking the bus!
Many argue that disability insurance fraud has reached epidemic proportions in the United States. Well today, a few hundred disability insurance rorters have been busted in New York City and will no longer be rorting the system
Prosecutors in New York City have announced that as much as $400 million may be getting rorted from the social security disability insurance dating back to 1988.
Some of the rorters have stories that are hard to believe. One person claimed to have a debilitating neck injury but was filmed taking part in a karate instructional video, where he is seen jumping around acrobatically. That particular individual is accused of stealing nearly $500’000 from disability insurance over the past decade.
Others received a few hundred thousand dollars claiming to be too depressed to go outside until they were spotted in photographs deep sea fishing and riding jet skis.
In a revelation that will repulse many people – a number of the people busted for rorting from the insurance funds claimed 911 was the source of their psychological issues.
New York Police Commissioner Bill Bratton said: “As a New Yorker, as a U.S. citizen, I can only express disgust at the actions of the individuals involved in this scheme”
There were a number of ring leaders involved in the rorting and who instructed other people on how to trick physiological and psychiatric tests. The alleged ring leaders were police officers and even a former FBI agent.
Disability rorters cost the insurance industry and governments millions of dollars every year, and also lead to higher insurance premiums for everyone.