AUTO INSURANCE ALERT!: WHY THE SYSTEM STINKS HOW TO FIX IT WHAT TO DO MEANTIME: Overcoming the Crisis in Manufacturing (Paperback)

by Andrew Tobias (Author)

Editorial Reviews

From Publishers Weekly
Tobias ( The Only Other Investment Guide You'll Ever Need ) argues for no-fault auto insurance that would be paid for at the gas pump. In his plan, the premium (about 40 cents per gallon--half the current premium, Tobias claims) is collected by state governments, which, when processing auto registration and driver's licenses, also collect surcharges from owners of "high-risk" vehicles and from others who must pay higher premiums. Then government divides registered vehicles into blocks of, say, 5000 and lets insurance companies bid for each block. The potential loss of bidding rights, Tobias contends, would force insurers to provide better service than they do now. He also believes that all of this could be managed with " no new government employees," a claim so naive as to be almost endearing. He dispenses remedies with middle-class myopia: his plan is narrow-minded, for example, in that those drivers who would be least able to afford his proposed per-gallon premiums also would be least able to afford new, more fuel-efficient cars. Even when it isn't silly, this argument just about picks itself apart trying to cope with necessary exceptions. The current auto insurance system is badly flawed, but this crusading book is not the light at the end of the tunnel.
Copyright 1992 Reed Business Information, Inc.

Product Details

• Paperback: 128 pages
• Publisher: Fireside (January 1, 1993)
• Language: English
• ISBN-10: 0671792229
• ISBN-13: 978-0671792220
• Product Dimensions: 8.2 x 5.4 x 0.4 inches
• Shipping Weight: 5.6 ounces
• Average Customer Review: 3.0 out of 5 stars See all reviews (2 customer reviews)
• Amazon.com Sales Rank: #2,202,122 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

5.0 out of 5 stars A great idea that eliminates uninsured motorists, May 15, 2006

By	GP in Seattle - See all my reviews

Tobias is a thoughtful and intellegent analyst who lays out an excellent program that would stop punishing responsible motorists. I have read his invetment guide books and many of his magazine articles as well, and I consider him a consumer advocate of the highest order.

14% of the drivers in the USA are uninsured (based on 1997-1999 data), as are 22% of those in California, where Tobias tried to implement his plan in 1993 shortly after this book was published. To exacebate the problem, the uninsured drivers are typically the ones who are the greatest risk. I've been victimized by such a driver, and I'm sure many of you reading this have been as well. Sure, his system isn't perfect, but it is better than the programs that most states have now.

I read a follow-up article by Tobias in the aftermath of the California initiative. It turned out that the successful campaign against his proposal was heavily funded by insurance companies and attornies. You may draw your own conclusions.

1 of 2 people found the following review helpful:

1.0 out of 5 stars Interesting ideas on car insurance, August 2, 1998

By A Customer

I'm a semi-retired insurance agent. Mr Tobias has some great ideas, some pretty radical. I read the book a few years ago, and I'm surprised it is out of print.

I guess the suggestions were too threatening to the people who bring you the current insurance system. I wasn't threatened, but then I liked Hillary's suggestions on insurance!