Automotive

Demystifying Insurance to Ensure Proper Coverage

Published

1 year ago

June 30, 2023

Daily News Staff

(Family Features) Home and auto insurance are among the things many people buy but hope to never use. Proper coverage provides peace of mind that an accident, weather event, natural disaster or unexpected injury or illness won’t cause financial ruin. However, many Americans are uninsured, underinsured or paying too much for coverage.

Data from the Insurance Research Council cited by the National Association of Insurance Commissioners shows 12.6% of U.S. motorists are uninsured – approximately 1 in 8 cars on the road. For uninsured drivers, plus those involved in accidents with them, fender benders or worse can result in out-of-pocket costs.

Homeowners need to be properly insured, as well. According to the National Centers for Environmental Information, the U.S. has experienced more than 350 weather events or natural disasters since 1980 that have caused more than $1 billion in damage. Even small thunderstorms can send tree branches into homes, causing thousands of dollars in damage. For home and auto insurance, consumers should be sure their policies cover replacement and repair costs at today’s market rates in addition to liability coverage for personal injury and other damages.

Insurance helps bridge these gaps, but it’s common for people to renew policies without checking them. Because insurance policies are often seen as complex and confusing, that may prevent people from purchasing proper coverage.

A 2022 survey from realtor.com found only 56% of homeowners knew what to look for in their homeowners insurance policy when they bought their homes, and 15% didn’t have any idea what to check. In addition, Forbes Advisor reported 40% of drivers believe they had coverage that doesn’t even exist.

Consider these challenges consumers face when shopping for and comparing insurance policies and providers:

Industry Jargon and Lingo – When you visit a website or talk to an insurance agent, you may feel like you’re speaking a different language with terms like “deductible,” “premium,” “co-pay,” “additional insured,” “aggregate limit” and “co-insurance.”
Bait and Switch – Insurance carriers sometimes advertise low rates, but your rate may be higher than expected when you apply, often with no explanation.
Fine Print – “Sorry, that’s not covered.” These can be chilling words to hear when you’re hoping your insurance policy comes through for you in a time of need. An explanation may be deep within the policy, but you may need a magnifying glass to find it.
Transparency – Many decisions that affect rates and coverage may seem to be done behind a curtain, such as rates in comparison to neighbors, remodeling impacts on rates, rate changes based on age and more.
Apples to Oranges – With many moving parts within the average policy, it can be difficult to compare rates and coverage.

Improved technology is helping solve some of these issues and deliver an improved experience. A decade ago, the only way to compare insurance rates was to make phone calls, meet with agents and read brochures. Even with the internet, you still need to visit multiple websites and take notes, often entering the same personal information time and time again.

Today, insurance marketplaces, like the flagship platform from Guaranteed Rate Insurance, make it easy to compare multiple carriers, all at once, with a single application. Customers enter basic information to receive quotes for home and auto insurance coverage from more than 50 top-rated carriers, allowing for a quick, side-by-side comparison of coverage options.

“The primary benefit insurance delivers is peace of mind,” said Jeff Wingate, executive vice president and head of insurance for Guaranteed Rate. “If the relationship between an insurance provider and customer begins with stress, confusion and frustration, the provider isn’t delivering the desired service. That’s why we made it easy for consumers to make informed decisions about rates and coverage from trusted and reliable providers.”

Life insurance, umbrella, jewelry, flood, pet, landlord and earthquake policies are among the other coverage options available for comparison. Coverage benefits are easy to read with clearly explained terminology and experienced agents standing by to answer questions or assist with purchasing a policy.

To find more information and explore the insurance marketplace, visit rate.com/insurance.

Photos courtesy of Getty Images

SOURCE:
Guaranteed Rate

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Automotive

Toyota Issues Safety Recall for 2022-2023 Tundra and Lexus LX Vehicles

Published

4 hours ago

July 26, 2024

Mark Bennett

PLANO, Texas — Toyota has announced a safety recall affecting certain model year 2022-2023 Toyota Tundra and Lexus LX vehicles in North America. Approximately 102,000 vehicles, including both Toyota and Lexus brands, are involved in this recall across the United States.

What’s the Issue?

The recall comes as a result of a manufacturing oversight where machining debris may not have been adequately cleared from the engine during production. In the affected vehicles, this debris can lead to several serious issues, including:

Engine knocking
Rough engine operation
Engine failure to start
Loss of motive power

The most concerning of these issues is the potential loss of motive power while driving at higher speeds, which significantly increases the risk of a crash.

What Will Toyota Do?

To address this issue, Toyota and Lexus dealers will replace the affected engines with new ones at no cost to customers. This recall is a proactive measure to ensure the safety and reliability of these vehicles.

Customer Notifications

Toyota plans to notify affected customers by late July 2024. If you own one of the impacted vehicles, it’s essential to stay informed about this recall to ensure your safety on the road.

How to Check If Your Vehicle is Affected

If you own a Toyota Tundra or Lexus LX and want to see if your vehicle is included in this safety recall, you can visit Toyota.com/recall or nhtsa.gov/recalls. Simply enter your Vehicle Identification Number (VIN) or license plate information to check your vehicle’s status.

Need Assistance?

For any further questions or concerns, Toyota customer support is available through the Toyota Brand Engagement Center at 1-800-331-4331 for Toyota vehicles. For Lexus owners, support can be reached at 1-800-255-3987.

Safety recalls are a crucial part of the automotive industry, ensuring that potential issues are addressed before they lead to accidents. If you own one of the affected Toyota or Lexus vehicles, be sure to take action and stay updated on this important recall to keep yourself and your loved ones safe on the road.

STM Daily News is a vibrant news blog dedicated to sharing the brighter side of human experiences. Emphasizing positive, uplifting stories, the site focuses on delivering inspiring, informative, and well-researched content. With a commitment to accurate, fair, and responsible journalism, STM Daily News aims to foster a community of readers passionate about positive change and engaged in meaningful conversations. Join the movement and explore stories that celebrate the positive impacts shaping our world.

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Automotive

Toyota Invests in EV Charging Network IONNA to Enhance Charging Access for Customers

Published

2 weeks ago

July 14, 2024

Daily News Staff

Toyota joins seven other automakers as an investor and founding partner of IONNA
IONNA to install at least 30,000 charge ports in North America by 2030
Toyota, Lexus customers will have access to growing DC fast charger network, supporting both NACS and CCS charge ports

PLANO, Texas and RALEIGH DURHAM, N.C. /PRNewswire/ — IONNA and Toyota Motor North America (Toyota) today announced that Toyota has joined seven other automakers as an investor in IONNA to support the buildout of its high-powered charging network for battery electric vehicles (BEVs) across North America. This allows Toyota and Lexus customers access to the public network of DC fast chargers IONNA will begin deploying later this year. IONNA plans to install at least 30,000 charging ports in North America by 2030, and stations will include both NACS and CCS connectors to support all BEV drivers.

Toyota Invests in EV Charging Network IONNA to Enhance Charging Access for Customers

IONNA Support

“We are excited to announce our support of IONNA to deploy DC fast chargers throughout the U.S. and Canada,” said Ted Ogawa, president and CEO of Toyota Motor North America. “We believe this will not only promote the adoption of BEVs and increase customer confidence in the technology, but it will provide our Toyota and Lexus customers with access to IONNA’s rapidly growing charging network in North America.”

IONNA’s focus on the holistic customer experience aligns closely with Toyota in ensuring that charging stations provide visitors with amenities and convenience in addition to vehicle charging. IONNA plans to bring its first batch of DC fast charging stations online in 2024 and will continue the buildout of additional stations throughout the decade.

“We are delighted to welcome Toyota to our growing IONNA family,” said Seth Cutler, CEO of IONNA. “Their vision for the future of electric mobility in North America aligns perfectly with our mission to push the boundaries for the highest standards of quality, reliability, and customer experience. This partnership marks another significant achievement of many to come in our joint journey to transform EV charging and spearhead the adoption of sustainable transportation in North America.”

Supporting IONNA is an important step for Toyota, as the planned nationwide network is highlighted by a partnership and collaboration effort among now eight OEMs to invest in the buildout of public charging. Toyota is the latest manufacturer to join in its support of the EV charging company, with BMW, GM, Honda, Hyundai, Kia, Mercedes-Benz and Stellantis also pledging support.

Toyota currently offers two mass-market BEVs in the U.S. and Canada – the Toyota bZ4X and the Lexus RZ. It recently announced plans for two all-new three-row BEV SUVs that will be assembled at Toyota Motor Manufacturing Kentucky (TMMK) and Toyota Motor Manufacturing Indiana (TMMI). By 2030, Toyota aspires to offer 30 BEV models globally across its Toyota and Lexus brand nameplates and produce up to 3.5 million BEVs annually.

About Toyota
Toyota (NYSE:TM), creator of the Prius hybrid and the Mirai fuel cell vehicle, is committed to building vehicles for the way people live through our Toyota and Lexus brands, and directly employs more than 63,000 people in North America (more than 49,000 in the U.S.).

Over the past 65 years, Toyota has assembled nearly 47 million cars and trucks in North America at the company’s 12 manufacturing plants. By 2025, the company’s 13th plant in North Carolina will begin to manufacture automotive batteries for electrified vehicles.

Through our more than 1,800 North American dealerships (nearly 1,500 in the U.S.), Toyota sold more than 2.6 million cars and trucks (more than 2.2 million in the U.S.) in 2023, of which more than one quarter were electrified vehicles (full battery, hybrid, plug-in hybrid and fuel cell).

For more information about Toyota, visit www.ToyotaNewsroom.com.

About IONNA
IONNA is a rising joint venture founded by now eight of the world’s biggest automakers, BMW, General Motors, Honda, Hyundai, Kia, Mercedes-Benz, Stellantis and Toyota. Purpose-built to lead, innovate, create, and drive forward a redefinition of charging as an end-to-end integrated customer experience. Delivering this mission by developing and deploying a trailblazing nationwide network of stations with cutting-edge technology, retail integration, amenities, and unparalleled customer service. Enabling urban and long-distance EV mobility for all with over 30,000 ultra-fast-and-reliable charging points by 2030. IONNA will provide the coverage drivers need, the reliability they deserve, and the amenities they crave.

For more information, please visit www.ionna.com

SOURCE Toyota Motor North America

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Automotive

The Iconic Ford Capri Reborn: A Glimpse into the Future with Electric Power

The Ford Capri EV – where legendary design meets cutting-edge electric tech. Iconic, stylish, and sustainable.

Published

2 weeks ago

July 13, 2024

Mark Bennett

Rising from the annals of automotive history, the Ford Capri makes a powerful comeback, this time energized with the latest in electric vehicle technology. Unveiled in Cologne, Germany, the reimagination of this beloved sports coupe symbolizes a blend of tradition and forward-thinking – a true testament to Ford’s innovation in the era of electric mobility.

Electric Heart, Timeless Soul

Dubbed as a modern classic, the all-new Ford Capri EV marries nostalgia with cutting-edge functionality. Keeping the soul of the original design, the vehicle sports iconic design cues such as the distinctive style of the headlights and familiar body shape, but this time, it’s powered completely by electricity. “Legends apologize for nothing,” said Eric Cantona, the charismatic football legend spearheading the Capri’s marketing campaign. His association with the launch underscores Ford’s alignment with iconic status and timeless charisma, much like the Capri itself.

Ford Capri EV: Designed for the Future, Inspired by the Past

With a robust 620km range on a single charge, thanks to its advanced Fast-Charging capability, the Capri is positioned as a sports car fit for the family. It offers ample space too, sporting over 570 litres of boot space, blending performance with practicality. This is not just an electric conversion; it’s a thoughtful redesign for the future-minded driver.

Intelligent Technology Meets Classic Charm

The Ford Capri EV isn’t just about looks or environmental credentials; it’s about enhancing the driving experience with cutting-edge technology. The car includes intelligent features like automated lane changes and an innovative safety measure for cyclists, detecting their proximity when the door is opened. The massaging driver’s seat and the sliding touchscreen are not just features; they’re a statement – Ford Capri is both a nostalgia piece and a glimpse into the future of automotive design.

Each element of the new Capri has been crafted to respect its legacy while embracing the potential of electric technology. With its swagger intact and powered by the latest in EV innovation, the Capri promises a driving experience that’s both exhilarating and eco-friendly.

A Legend Reimagined

The Ford Capri was more than just a car; it was a cultural icon. Its re-introduction as an electric vehicle shows Ford’s commitment to sustainability, without sacrificing the thrill that made the Capri a legend. This is a car that respects its past but drives straight into the future – electric, efficient, and still every bit as exciting.

Ford’s daring revival of the Capri as an all-electric sports coupe proves that some legends never die; they just get faster, smarter, and more sustainable. Whether you’re a long-time Capri fan or a newcomer to the marque, the new Ford Capri EV ensures that the legend not only lives but thrives in the fast-evolving world of automotive engineering.

https://media.ford.com/content/fordmedia/feu/en/news/2024/07/10/the-new-all-electric-ford-capri.html

SOURCE Ford Motor Company

https://stmdailynews.com/category/stories-this-moment