You’ve all seen those “no fault” insurance ads on TV which assure you that they believe strongly in “accident forgiveness.” I worked in television from 1954 until 1996 and I can assure you that all you see on TV is not necessarily true.
We had (and the operative word here is had) our auto insurance with the Traveler’s Insurance company. My wife had a minor fender-bender which cost $1200 to repair the other person’s vehicle. She also had not had an accident since the 1960s when another car struck her.
This week we got the semi-annual bill to renew our Traveler’s Insurance. We had been paying approximately $100 a month or $1200 annually. The current bill is $4,000 per year! An increase of about 300%. So much for accident forgiveness. We now have our insurance with another company. I’m not sure the results would have been different with another insurance company. My experience through the years is that ALL insurance companies LOVE to receive premiums – but they are never happy to pay a claim. So be warned, especially if you have your policy with Traveler’s, if you have an accident even if it is not your fault you WILL pay more for future insurance. And since they are all in the same pot together and share information I’m not sure what you can do to prevent this scam. State Insurance Commissioners, as a rule, and certainly here in Georgia are in the insurance companies’ pockets and seem more concerned with saving those companies money than serving the needs of the public. We just got rid of one who was blatantly corrupt. Whether the current one will be any better remains to be seen.