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The car insurance marketplace periodically changes from a "soft" market to a "hard" market. What is happening right now in Florida is an excellent example. After years of a soft market as indicated by reduced rates and relaxed rules a hard market now exists. Rates are on the rise and rules for qualifying are strict. Most consumers will experience a rate increase. Shopping and switching companies to maintain or lower rates will be more challenging in 2010 for Florida drivers. Hard and soft markets periodically shift from one to the other in all states. Unfortunately for Florida drivers they are now experiencing a shift away from a soft market. The primary culprit responsible for the current market in Florida is Fraud. Companies are adjusting rates and rules to compensate. Personal Injury Protection (PIP) coverage is the main target for phony claims in Florida. $10,000 of this coverage is mandatory in the state. PIP pays policyholders and their household residents for bodily injuries after an accident. Policyholders in Florida receive PIP benefits from their own policy regardless of fault in an accident. Fraud is a contributing factor in a hard market for any state not just Florida. Consumers can expect increased underwriting (investigation) when purchasing a new car insurance policy during a hard market. Progressive now requires a photo ID for Florida applicants to verify identity for a PIP policy. Infinity insurance company will now conduct phone calls to Florida policyholders to verify application information. A variety of new measures is underway by most companies to combat fraud in the Sunshine state. Until these counter measures begin to reduce fraud the current market condition will persist. The last hard market in Florida occurred in 2000 - 2001. This is a time when a conservative and well-informed insurance company can gain market share from competitors. Companies that demonstrate rate stability during this hard market will be rewarded with new customers and retain existing ones. Consumers who seek out these companies will reduce their car insurance cost over the long term. During the last hard market in Florida, Mercury Insurance Group was a "stand out" company providing excellent value. They have provided rate stability for Florida drivers ever since and will likely grow during this market. Infinity insurance company is poised to be prominent this time around. There is good value in a hard market for those who shop thoroughly. The two companies mentioned here would not be the only ones. Florida drivers should expect a rate increase at their next car insurance renewal. Fraud associated with PIP coverage in Florida has always been problematic and is on the rise. Sensible rates from quality companies are available in a hard market for those who shop thoroughly. This basic principal applies in any state where you may reside. In response to changing market conditions, our auto insurance agency, http://floridaautoplusinsurance.com, now represents Infinity insurance company. Intelligent and strict underwriting enables Infinity to maintain low rates during these challenging times. Florida auto insurance quotes are our specialty. Article Source: https://EzineArticles.com/expert/Clifford_J_Schimek/259660 Article Source: http://EzineArticles.com/3383116

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