The effect of the credit crunch is not only harming investment institutions but harming car insurers too. Therefore in America a car insurance company has added a section on ‘Assessing Financial Strength of Your Car Insurance Company’ to its existing car accident statistics, car insurance quotes and car insurance reviews to help consumers know if their car company will go bankrupt.

In the event of an insurer’s bankruptcy, the company has advised that policy holders should immediately contact the company to find out the status of both the company and their individual coverage.

Jon Davidson CEO from the company who compiled the list stated: “These self-protective measures aren't complicated, but most policy holders have never had the need to learn how to handle a bankruptcy situation, nor do they know that almost all states have mechanisms in place to cover insurance claims in the event of an insurer going under.”

Davidson furthered his statement by saying that the company is doing all it can to help customers: “No one can keep up with all this confusing and frightening financial news without some help. We're all trying to make the best decisions we can, save money, and hedge against future disasters. Something like your car insurance company going bankrupt can be that one extra little headache you just do not need right now.”