Economy leaves millions of drivers uninsured

[RamboLiberal]

Source: MSNBC

Insurance regulators and safety activists are alarmed at what they describe as a stunning rise in the number of drivers who are cutting back or even dropping their auto insurance to save money during the recession.

“It’s been a shock,” said Chris Pringle, owner of All American Insurance Agency in Little Rock, Ark., who said up to 20 percent of his clients had dropped their policies or missed payments in recent months. “I thought we were somewhat in a recession-proof business, because (auto insurance is) required for everyone to have.”

Karl Newman, president of the Northwest Insurance Council, a trade association based in Seattle, warned that “we may be looking at record numbers of uninsured motorists across the nation.”

“When you see a multi-car collision on the freeway ... if there’s more than three or four cars there, at least one of them is likely to be uninsured,” Newman said.

Industry figures back up that concern. By next year, 1 of every 6 drivers on U.S. roadways is likely to be uninsured, according to the Insurance Research Council, a nonprofit group financed by the insurance industry. To calculate that figure, the council reviewed accident claims processed by insurers covering half of the nation’s drivers.


Read more: http://www.msnbc.msn.com/id/30093235/

[OhioChick]

1. And only to worsen.

One is more concerned about paying their mortgage or buying food than insurance.

[RDANGELO]

2. I imagine the same thing would happen if you required

everyone to buy private health insurance. The number of insured would still go up and down with the economy.

[earthside]

3. BAILOUT!

How about diverting a few billion dollars from the TARP, or selling some of our $25 billion of Wells Fargo stock to give motorists an insurance bailout?

Hmmm.

[ConcernedCanuk]

5. Hell no, are ya nuts? -

.
.
.

There's millionaires out there that need their play money for all their extra homes, boats and cars

Be reasonable

sheesh!

:dunce:

[xchrom]

4. recommend

[Blue_Tires]

6. car insurance is a racket

but still...with less insured drivers we are going to see a lot more people fleeing the scene of an accident (by foot if neccessary)

[valerief]

7. Yeah, it's legalized extortion. But if people are buying less men's underwear, then

of course, they'd be buying less car extortion insurance.

[yowzayowzayowza]

8. Why is it we can't just include the cost of liability insurance...

in the price of the gas? Oh, yea. Socialism.

[sarcasmo]

9. Auto Insurance , one of the biggest scams on the planet. They can up your rates if you have bad

Credit.

[PassingFair]

10. Time to invest in the prison industry....

since we will all be guilty of living
while BROKE soon.

SCREWN.