South Carolina is launching a new insurance system
It is a beautiful new world, South Carolina auto insurance, when the week starts.
That’s when the state new self-insurance system with the trim, the number of uninsured drivers and the end of good practice for the conduct of subsidies to bad drivers, which entered into force.
The new system, it means the end of the detestable recoupment fees, costs to all drivers, for financing the State Reinsurance Facility assured that the State of the worst drivers.
It is dismantled, the State most of 2002 runners, and it will no longer be displayed separately on insurance.
The fee is currently $ 44 per year for a driver did not secure insurance with points assessed.
Under the new system, prices are without doubt an honest reflection of the driver danger, “said University of South Carolina, economist Scott Harrington, runways, government auto insurance of the economy.
But pay more and pay less, and how much to pay drivers? “ I do not know,’’said Allison Dean Wright of the South Carolina Insurance News Service.
“ How can a true comparison between the current and new rates, if the assessment procedure and what information can be considered under the new law is much stronger than was possible under the old law ? Liz demandé”OSHA, spokesman for the Colombia-South Carolina Farm Bureau Insurance Co.
South Carolina currently up 28 national insurance will pay an amount for auto insurance, with an average of $ 602 per year for reporting during the year 1996, information from the Institute of insurance said. But the state are often compared to North Carolina, $ 95 on average per year, less costly, and Virginia, which is about $ 50 less.
The changes are also under state open to competition from insurance and approximately 30 new companies began competing for business in the state 2.8 million motorists, with much more promising economies.
Companies such as Insurit Casualty Group, a division of Virginia Surety, are already projecting a much more promising consumers, they bar 40 per cent.
But the new rates do not appear to renew policies. Many companies renew every six months, it could September or later before most motorists see a change.
With all the changes, state officials estimate that more people connect to insure.
The Legislative Audit Council estimated that 10 to 16 per cent of the state are uninsured drivers, which means that 250000 to 350000 pilots are not covered.
Drivers without injuries or accidents are driving without insurance liability by insurance is a tax of $ 550 for the Department of Transportation, instead of coverage.
Insurers have the right to deny reports or refuse to renew a policy, but they can not do because of race, religion, age, the vehicle age and income, among others.
South Carolina does not have a large auto-insurance reform since 1972. So, it was feared that low-income people and minorities have trouble covering. To fight against the fact that the legislature also has a Take-All-Relève provision that insurers can not refuse applicants.
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