City tables auto insurance request

Henderson council members tabled a request Tuesday night to tow vehicles of drivers without insurance until further research of the matter is provided.

Resident Raymond Howard said he was involved in a traffic accident May 13 near the 100 block of US Highway 79 South.

Georgia auto insurance is third-highest in the nation

Allen and Melanie Witry thought theyd save money when they moved in 2011 from Red Bank to Ringgold, Ga.

You can get a lot more house for less money in Georgia, Allen Witry said.

Then the auto insurance bill came.

Twice as expensive, he said.

Witry wasnt surprised to learn that an annual national survey found that Georgia has the third-highest average auto insurance rates in the nation, while Tennessee ranked 28th.

According to insure.com, the average Georgian will pay $2,201 for car insurance in 2014, while Tennesseans will spend an annual average of $1,397 on auto insurance premiums — a difference of $804 yearly, or $67 each month.

Georgia auto insurance rates have been on the rise for several reasons, according to insure.com. More Peach State drivers are uninsured or underinsured, a high rate of lawsuits drives up costs, and Georgia insurance companies that had underpriced their policies to get market share finally found losses catching up with them, causing them to raise rates.

Another website, carinsurance.com, shows that rates jump by about 50 percent in the Chattanooga area as you cross the border from Tennessee to Georgia. The website shows an annual average insurance rate of $1,040 in Chattanooga and East Ridge ZIP codes that border Georgia, while across the state line annual rates average $1,511 in Chattanooga Valley, $1,503 in Fort Oglethorpe and $1,497 in Ringgold.

The websites figures were questioned by two Georgia insurance brokers, though. They said drivers need to shop around for the best rates, because too many variables are involved to make blanket statements about Georgias, Tennessees or any other states insurance rates.

Thats the only thing to do: Shop around, said Randall Peters, president of Weeks Peters Insurance in Ringgold. Theres a whole lot of different variables.

Insurance isnt rated by state, Peters said, but by territories within states. Hes not convinced Georgias rates are higher on average than Tennessees. If they are, Peters blames traffic in Atlanta, which has the ninth-largest metro area in the nation. Thats compared to Nashville at 36th and Memphis at 41st.

Mike Daugherty, of 79-year-old Daugherty Insurance, in Rossville, said he doesnt see much difference between Georgias and Tennessees auto insurance rates.

I deal with it all day long, and it just varies by company as to which states going to be the cheapest, Daugherty said. Theres usually not much difference between the two.

Georgias Office of Insurance and Safety Fire regulates auto insurers.

This scenario doesnt give a true picture of rates in Georgia, insurance office spokesman Glen Allen said of insure.coms annual auto insurance rankings. Its a marketing tool.

However, Allen couldnt provide an alternative scenario or say where Georgia ranked in terms of auto insurance costs.

I do not know where we stand, he said.

Georgias insurance commissioner is an elected position. Voters will decide in November between the incumbent since 2010, Ralph T. Hudgens, a Republican who ran unopposed in Georgias May 20 primary, and Democrat Elizabeth Liz Johnson, of Statesboro.

Neither candidate has made an issue of Georgias auto insurance rates. Theyre expected to square off over the federal Affordable Care Act, since Hudgens has said hell be an obstructionist of Obamacare while Johnson is a retired insurance agent who served on the Democratic National Committee.

Contact staff writer Tim Omarzu at tomarzu@timesfreepress.com or twitter.com/TimOmarzu or 423-757-6651.

House Bill Allows Military Families To Keep Auto Insurance When Moving …

WASHINGTON, DC US Rep. Edward Royce (R-Calif.) introduced HR 4669, the Servicemembers Insurance Relief Act. This bill would simplify the state-based insurance regulatory system by abolishing the auto insurance change requirement for relocating servicemembers. In December 2013, the US Department of Treasury#x2019;s Federal Insurance Office said the problem facing servicemembers stems from a lack of uniformity across the system of insurance regulation. HR 4669 is a bipartisan bill that seeks to solve that issue.

Royce is a longtime advocate of the federal regulation of the insurance industry and worked hard on insurance reform issues during the Dodd-Frank Act debate.

Darrell Amberson, chairman of the Automotive Service Association, said about the bill, #x201C;Rep. Royce#x2019;s legislation will not only provide much-needed relief for military families, but takes an important step in the modernization of the insurance industry. The Automotive Service Association (ASA) supports HR 4669.#x201D;

Eagan’s Style Encore offers curtain call for used clothing

The folks who created resale concepts including Once Upon a Child, Platos Closet and Play It Again Sports are rolling out their newest retail brand for used goods.

On Thursday, a shop known as Style Encore opened its first Minnesota location in Eagan. Like other retail concepts launched by Plymouth-based Winmark Corp., Style Encore stores are all about buying and selling gently used items — in this case, womens clothing and accessories.

With this economy and the whole concept of recycling, the value message today goes so much further than it ever has, said Steve Murphy, Winmarks director of franchising. People are trying to stretch their budgets as much as they can.

Winmark franchisees have already spread its Platos Closet stores nationwide, with nearly 400 locations buying and selling used clothing for teens and young women. But some of those franchisees wanted more clothing options.

We had been looking at the womens space, the 29-and-older space, for a little bit, Murphy said. Obviously theres a lot of competition, theres a lot of consignment shops out there. But we felt this was a natural extension.

Winmark unveiled the Style Encore concept in January 2013 and opened the first store in Texas in August. Its Eagan store is its first in Minnesota, with at least two more Minnesota locations in the wings.

Mary Klapperich is the Eagan stores owner and knows the Winmark model well. For seven years, she was a Winmark employee, traveling the country and advising franchisees how to make their new stores a success.

After Style Encore moved from the planning level to the franchising stage, Klapperich and her husband Don made the leap to become franchisees themselves.

To me it was a no brainer, I could do what I love and be home at night, she said.

How Much Say Should Your Kids Have in Your Decision to Move?

When it comes to buying and selling a home, children are playing an active role in the decision-making process.

A new survey by real estate company Coldwell Banker shows parents are letting their children have a say in where they live, the type of home they buy and even if they move at all.

“A lot of people think real estate decisions are based on finances or crunching the numbers, but that’s not the only reason people move,” says Robi Ludwig, psychotherapist and lifestyle correspondent for Coldwell Banker Real Estate. “We found this modern group of parents is really making decisions based on their children’s perspective.”

The survey, which polled 2,800 parents across the country, showed that 79% of parents ages 18 to 34 and 70% of parents aged 35 to 49 considered their children when making major purchasing decisions–including buying a home. Boomer parents, on the other hand, weren’t as willing to let their kids rule the roost, with just 52% saying buying big-ticketed items revolved around the kids.

Millenials and Generation X parents were also more concerned with how a move would impact their kids than baby boomers. According to the survey, 67% of millennial parents and 64% of Generation X parents say they worry about the immediate impact a move would have on the children, while 54% of Boomer parents felt the same way.

In addition to taking the children’s feelings into account more, the survey also revealed that millennial (62%) and Generation X parents (57%) want to live near their parents or in-laws. Among boomers, 43% report it was important to live near their parents.

The younger generations of parents are much less commanding, says Ludwig, saying they embrace a more “collaborative” approach to parenting.

While it’s important to consider the kids in major purchases or life changes, experts advise parents to draw a line in how much clout their opinions carry. After all, kids are exactly that kids, and their motivations to live in a particular town or home will be a lot different than what parents should be considering.

“What happens are families are not considering what’s in their best interests,” says Ludwig. “Maybe there is a move that opens up new possibilities in terms of living a more financially-secure life.”

Not to mention the act of moving, although scary for children, can help them develop important life skills like meeting new people and adjusting to a new environment.

Ludwig suggests parents think about both their short and long-term needs. Once a decision has been made, he says that’s when parents should bring kids into the process.

“You really need to consider what’s in your best interest as well. That doesn’t make you an impaired parent. You want your child to have a happy life, but you don’t want to do it at the expense of not considering an opportunity.”

Compare mortgage rates in your area

Shooting rampage leaves 7 dead off California college campus

ISLA VISTA, Calif. – At first, when it began, it was lost to the soundtrack of another Friday night in this bluff-top college town: screeching tires and what sounded likefireworks.

But then – shattered glass. Sirens.Screams.

Within 10 minutes, it was done – seven dead, 13 wounded, a tortured young man slumped at the wheel of a shattered BMW, a gunshot wound to his head, three semiautomatic handguns and more than 400 rounds of ammunition at hisside.

Behind him, there were 10 distinct crime scenes in a single square mile – skateboarders and bikers run down and tossed into the air

7 shares the pros are buying and selling

7 shares the pros are buying and selling
A roundup of trades by professional investors. This time, we look at Paddy Power, Cranswick, Pittards, Development Securities, WANdisco, XP Power and Cineworld.

Car Insurance Rates and Quote Comparisons are Available from New Website …

The Site Offers Quote Comparisons from Hundreds of Auto Insurance Companies across the United States

Temecula, Ca (PRWEB) May 28, 2014

Costely, a company that offers drivers helpful information about car insurance rates and quote comparisons from hundreds of auto insurance companies across the country, has just launched their new and user-friendly website at http://www.costely.com.

In addition to sample quotes, Costely.com provides visitors to the site with in-depth data and analysis of various driver scenarios that take into account different states insurance rates. In addition, the site provide various state specific information such as requirements, population, uninsured drivers, stolen cars and others that influence insurance premium. This information, which has been collected from public official and private sources, can help drivers compare and contrast the various rate samples, and see for themselves how much money they might be able to save. The data covers 32 states and over 400 cities across the United States and includes the average, lowest and highest rates for the different locations, information about state specific insurance requirements, and data from the US Census Bureau and other organizations.

While many people would like to pay less for their auto insurance, they may not be sure how to go about it. Comparing car insurance rates has traditionally involved spending a lot of time calling a variety of companies or visiting numerous websites. This process can leave drivers feeling confused and overwhelmed. By launching Costely.com, a team of auto insurance experts hopes to create a one-stop auto insurance quotes comparison shop that can help people determine which company has the best rate for them.

“We provide a wealth of auto insurance figures, estimates and full case scenarios by available state and cities to help you compare rates,” Steve Parker, the company spokesperson noted, adding that by using Costely.com, people can instantly get estimates on how much particular user groups pay for their coverage in their state and city.

“If you need good car insurance advise, backed by solid official data and great coverage that doesnt break your budget, you are in the right place.”

Anybody who would like to learn more about Costely.com is welcome to visit the new website; there, they can browse through the vast amount of information and driver scenarios on the site. If they wish, they may enter in their zip code to get a free, no-obligation auto insurance quote.

About Costely.com:

Costely.com was founded by a team of auto insurance experts who became frustrated by an expensive and ambiguous auto insurance market. They set out to analyze thousands of rates from hundreds of auto insurance companies, combine data from multiple public and private sources and offer their customers the best options available. Their ultimate goal is to create the best balance of meeting custom insurance requirements and cheap car insurance rates. For more information, please visit http://www.costely.com/.

Costely Insurance

30520 Rancho California Rd.

Temecula, CA 92591

For the original version on PRWeb visit: http://www.prweb.com/releases/Costely/car-insurance-rates/prweb11889750.htm

THE RUPEE: mixed patterns

The rupee played both sides versus the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee picked up six-paisa versus the dollar for buying and selling at Rs 98.78 and Rs 98.84 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, lost 15-paisa in terms of the dollar for buying at Rs 99.75 and it shed five-paisa for selling at Rs 99.90, while the national currency recovered 30-paisa in relation to the euro for buying and selling at Rs 135.50 and Rs 135.75, they said.

In the third Asian trade, the dollar held steady near an eight-week peak against a basket of major currencies, having edged up on the back of encouraging US economic data. The dollar index last stood at 80.340, staying near a high of 80.470 set on Tuesday, its highest level since early April. The dollar was trading against the Indian rupee at Rs at 59.14, the greenback was at 3.2195 in terms of the Malaysian ringgit and the US currency was at 6.2586 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday: 77.63-77.6325 (77.63-77.6325). Call Money Rates: 05.60-07.25 percent (previous 05.60-07.25 percent).

Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.

RUPEE IN LAHORE: The Pak rupee remained weak and lost 10-paisa against the US dollar on the local currency market on Wednesday.

According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 99.55 and Rs 99.80 as its buying and selling rates, respectively. As a result of fresh demand, the dollars rate was ended higher at Rs 99.65 and Rs 99.90 on buying and selling side, respectively, the dealers said.

However, the rupee-dollar parity remained unchanged amid sluggish trading trend. The pound was traded at its Tuesday closing of Rs 167.75 and Rs 168.00 on buying and selling counter, respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Wednesday.

The dollar opened at Rs 98.50 (buying) and Rs 98.60 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 98.50 (buying) and Rs 98.60 (selling).

Pound Sterling opened at Rs 165 (buying) and Rs 165.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.

Copyright Business Recorder, 2014

No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence.) onMouseOut=popop(event,tip1) style=cursor:pointer>Copyright Business Recorder, 2014

N.C. auto insurance price controls stifle innovation

From David C. Marlett, chair of the Department of Finance, Banking and Insurance at Appalachian State University, and a senior fellow at the American Consumer Institute. Marlett did two projects for the Insurance Federation of NC about six years ago. He has no affiliation with them now nor is he being paid by any insurer or insurance group:

There has been a great deal of heated discussion in North Carolina regarding auto insurance reform during the past several years. The insurance industry is divided and parties are trying to make their case to legislators in the NC General Assembly.

It can#x2019;t be denied that the average premium for drivers here is ranked as one of the lower in the nation and the market is not in a state of crisis.It also can#x2019;t be denied that our regulatory system is unique nationally and the rate bureau model is dated. This approach worked in the 1980#x2019;s, before advances in technology, risk assessment and online resources. We now have usage-based insurance options that give the driver the ability to install a device that monitors driver habits in real time and allows discounts for driving carefully. Technology enables insurers to more accurately price risk on individual characteristics and reward less risky behavior. This is fairer than charging average rates based on large indiscriminate groupings.

We do not need to completely dismantle the current system, but it does seem reasonable to modify the system so that it makes it easier for insurers to operate and offer discount programs and enhancements commonly used in other states.

As it stands currently, the states with simpler, more modern systems are the first to receive new programs and North Carolina is left for last, or left out. Insurers could be given the opportunity to opt out of the current rate bureau system, provided that the Insurance Commissioner still has the option to review and approve new programs. This should lead to additional benefits for consumers as insurers have more flexibility and incentives to compete.

I#x2019;ve taught Insurance and Personal Finance courses for two decades #x2013; the last 12 at Appalachian State University. Each semester I assign a project in which the students are required to obtain a quote for their auto insurance. I do not tell them where to get their quote or how to do it; they have to figure that out on their own.

The students are consistently able to complete this assignment and typically have the same general comments each semester. They are surprised how easy it is to get a quote online, over the phone, or by visiting an agent. They also ask about commercials they have seen on TV and wonder why they couldn#x2019;t enroll in certain programs. #x201C;I have good grades, why doesn#x2019;t my insurer offer the good student discount in North Carolina?#x201D;

I believe the consumer is best served by allowing the Commissioner to have authority to review and deny rate changes when appropriate. Standard forms with consistent policy language should continue and also be subject to the Commissioner approval. There is concern that insurers may try to raise rates, and this could certainly happen for higher risk drivers. However, if an insurer attempts to raise rates to an unfair level, they will quickly price themselves out of market as consumers shop around for the best deal.

I believe many consumers would be better served by revising our system and giving insurers the option to operate as they do in most other states. This would encourage insurers to market additional discount programs and unleash competitive products that would benefit consumers.