Auto Insurance Requirements Expected to Increase in 2010

23 Dec 2009 12:00 Africa/Lagos


Auto Insurance Requirements Expected to Increase in 2010

MADISON, Wis., Dec. 23 /PRNewswire/ -- The states of Wisconsin and Louisiana will be raising minimum liability limit requirements which may cause a raise in current premiums. As of January 1, 2010, these states will require that all new policies written meet these new requirements and consumers may want to compare their current carrier's rates with those of others to ensure that their policy remains competitive.


As of the 1st of the year, liability coverage will become a requirement in Wisconsin and the limits will increase to $50,000 for the injury or death of one person, $100,000 for the injury or death of more than one person and $15,000 for property damage. In addition to the new limit increase, beginning June 1, 2010, drivers and owners will be required to provide proof of such coverage when requested by law enforcement; caught operating a vehicle without insurance may result in a fine up $500, failure to have proof on hand may be subject to a $10 fine and providing fraudulent proof of coverage can end in a fine of up to $5,000.


Source: http://www.dot.wisconsin.gov/drivers/vehicles/ins-req.htm


Residents of Louisiana currently pay some of the highest premiums in the nation and the new increased limits are expected to push these rates even higher. Although some have expected the rate increase to be in the 20 percent range, insurance commissioner Jim Donelon stated, "I would not be surprised to see it go to 15 percent." The limits for bodily injury liability to one person will increase to $15,000, $35,000 for more than one person and $25,000 for property damage liability.


For those who will be up for policy renewal after the New Year, it may be wise to shop around before renewing their policy. Websites such as OnlineAutoInsurance.com allows visitors to complete an auto insurance comparison online to help ensure that their current rate is still the most affordable. In order to avoid policy lapse while shopping around, rates should be compared well in advance of policy expiration dates.


Consumers can visit http://www.onlineautoinsurance.com/compare/ for a free quote comparison and assistance in keeping the new coverage requirements affordable.


Source: Online Auto Insurance, LLC

CONTACT: PR Division of Online Auto Insurance, LLC, +1-909- 912-1855


Web Site: http://www.onlineautoinsurance.com/

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Hagerty Announces The 2010 Hot List: A Decade in Review

Hagerty selects the 2008 Dodge Challenger SRT8 as a "collector car of tomorrow" on the 2010 Hagerty Hot List: A Decade in Review. (PRNewsFoto/Hagerty) TRAVERSE CITY, MI UNITED STATES

21 Dec 2009 12:01 Africa/Lagos

Hagerty Announces The 2010 Hot List: A Decade in Review

New List Presents Top Ten Future Collectibles of the Past Decade

TRAVERSE CITY, Mich., Dec. 21 /PRNewswire/ -- With the decade coming to a close, Hagerty, the leading insurer of collector cars, has expanded its annual Hot List of the "Collector Cars of Tomorrow." The 2010 Hot List: A Decade in Review presents Hagerty's top picks from 2000 to 2009 of the most influential cars of the past decade with the highest probability of becoming collector cars in the future.


(Photo: http://www.newscom.com/cgi-bin/prnh/20091221/LA28751)


"Over the past decade and even the past year, the automotive industry has seen immense change. But one thing that has not wavered is America's passion for interesting and unique cars," said McKeel Hagerty, CEO of Hagerty Insurance Agency. "Since our first Hot List in 2007, we've chosen cars that have peaked the interest of Americans and that we anticipate will be collectible in the future. This year we sifted through the good, the bad and the ugly of the past 10 years to present one new car from each year that you can bet your money on will be collectible 15 to 20 years from now."


For this year's Hot List: A Decade in Review, Hagerty reviewed mass produced cars from 2000 to 2009 with an MSRP of $100,000 or lower that valuation experts at the company predict will have collector appeal within the next 15 to 20 years. One car was selected from each year based on factors including how influential it was in the automotive industry, its "cool or unique factor" and its potential value in the collector car market.


Hagerty presents the Hagerty Hot List: A Decade in Review:

1. 2000 BMW M Roadster - The four-cylinder Z3 was a bit of a snooze, but
the M Roadster with 240 hp and a 0-60 time of around five seconds is a
Gen-X Shelby Cobra. Quad chrome pipes out the back, fat tires, special
side grilles and M badges identify this very special Z3. We believe in
the years to come this car will be highly desired by collectors for its
gracious curves and powerful engine.
2. 2001 Corvette ZO6 - While the 2001 ZO6's 385 horsepower is less than
the current base model Corvette, it did mark the return of the vaunted
ZO6 for the first time since 1963. The enthusiast publications were
shocked by GM's willingness to sell essentially a race-ready Corvette
straight from the factory.
3. 2002 Pontiac Firebird WS-6 "Ram-Air" - The Firebird burned bright in
its last year-- this was the most powerful Firebird ever produced (and
with the death of Pontiac, almost certainly the last). GM claimed it
was rated at 325 horsepower, but many Firebird enthusiasts claim they
were underrated by up to 40 horsepower. Not bad considering the most
powerful Mustang offered in 2002 had nearly 65 horsepower less.
4. 2003 Mini Cooper S "JCW" - In 2003 the Detroit Auto Show awarded this
Mini "North American Car of the Year". This car made our list not only
because it was the first year the "John Cooper Works" Tuning Kit was
available, but more importantly because anyone who drives one of these
cars walks away with a silly grin. It just begs to be driven hard and
often.
5. 2004 Cadillac CTS-V - This is the Cadillac for the Corvette enthusiast
who has to haul around kids and their gear. After decades of Cadillac
catering exclusively to the to those buying their last or second to
last cars, the new CTS-V with its 400 horsepower Z06 Corvette engine
will surely earn the respect of car collectors down the road as the
most memorable Caddy from this past decade.
6. 2005 Acura NSX - The NSX was the first production car to feature an
all-aluminum chassis, suspension and body, and was produced from
1990-2005 with very little changes throughout its 15 year run. The
breakthrough design influenced other supercars including the McLaren
F-1. It isn't uncommon to see an NSX on the auction bill at collector
car auctions often selling for nearly what they cost new.
7. 2006 Dodge Ram SRT-10 (viper powered pick-up) - Unlike any other Ram
pick-up, this one was produced solely for the purpose of speed. With
500 horsepower and even more torque straight from the factory, these
trucks would run less than a 14 second quarter-mile and easy
modifications put them into the 12 second category.
8. 2007 Ford Shelby Mustang GT 500 - Following the introduction of the
fifth-generation Ford Mustang, the Shelby nameplate was revived in 2007
for the first time since 1970. This new high performance version of the
Mustang as a way to pay tribute to the legendary Carroll Shelby. With
its retro looks, 500 horsepower, and Shelby's autograph on the dash,
this car introduced the younger generation to the glorious racing days
of the 1960s.
9. 2008 Dodge Challenger SRT8 - Mopar enthusiasts waited a long time for
this much anticipated tribute to one of the icons of the muscle car
era. When compared to all the retro inspired muscle cars of this
decade, our vote is for the Challenger as it most closely resembles its
first generation ancestor.
10. 2009 Pontiac Solstice GXP Coupe - With the death of Pontiac announced
toward the end of this decade, their last true sports car was the
Solstice GXP. The convertible version sold respectably for several
years, but this Coupe version was only produced for half a year. This
rare model will certainly be desirable in the years to come.



Hagerty Insurance Agency, Inc. is the leading insurance agency for collector vehicles in the world and host to the largest network of collector car owners. Hagerty offers insurance for collector cars, motorcycles and motorcycle safety equipment, tractors, automotive tools and spare parts, and even "automobilia" (any historic or collectible item linked with motor vehicles). Hagerty also offers overseas shipping/touring insurance coverage, commercial coverage and club liability coverage. For more information, call (800) 922-4050 or visit www.hagerty.com.


Photo: http://www.newscom.com/cgi-bin/prnh/20091221/LA28751
AP Archive: http://photoarchive.ap.org/
AP PhotoExpress Network: PRN1
PRN Photo Desk, photodesk@prnewswire.com
Source: Hagerty

CONTACT: Esther Richardson of Luxe Communications, +1-323-951-0529,
esther@luxecommunications.com, for Hagerty; or Jonathan Klinger of Hagerty,
+1-231-922-8822, jklinger@hagerty.com


Web Site: http://www.hagerty.com/