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Personal Injury Claims a Main Factor in Rising Insurance Premium Costs

June 25, 2011 | | Comments 0

As a funeral home director, one of the things that you have to consider when purchasing a new hearse or funeral car is the cost of auto insurance. Personal injury claims being what they are, you can’t afford not to have coverage.

You’re probably aware that insurance claims have gone sky high in the last decade, due in large part to bogus personal injury claims.

Fake personal injury claims are one of the top reasons insurance companies cite for the dramatic increase in insurance premiums over the last decade. That affects insurance for funeral coaches as well. And as a funeral home director, you’ll want to keep the costs of your services lower, which means paying close attention to the coverage for your passengers.

While personal injury claims for auto collisions across the board have risen by 70% over the past 10 years, other reasons for rising insurance premiums include increases in legal costs, expensive foreign car parts, fewer insured motorists, and less trust in young drivers.

When you consider that many drivers have dropped their insurance coverage due to an economy on the brink of collapse, it means that personal injury coverage and uninsured motorist coverage are lot more important for funeral directors who want to maintain their reputations as top-notch professionals. You may feel like you’ve been painted into a corner, but the only way out of that corner is financial responsibility.

Filed Under: Auto FinancingInsider Email

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About the Author:

AC Jones does mostly service and parts articles. He also does a lot of the finance stuff. In addition to this, AC Jones announces some of the special events, contests, giveaways, etc. He has his own Facebook account which you can click to from his profile on AutoConverse.com.

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