Auto insurance rates have risen 17 percent since 2020

Auto insurance Rates - 17 Percent
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American drivers are paying considerably more now for their coverage than a couple of years ago. Drivers across the United States are paying around 17 percent more for their auto insurance than they were paying in 2020, according to the results of a new Insurify study. This year, the average annual premiums for passenger vehicles across the country is $1,750. Michigan was identified as the state where drivers are paying the most for their auto insurance, at an average annual $2,510. The difference between that and what drivers are paying…

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Geico faces California car insurance class action lawsuit

California car insurance - class action lawsuit

The insurer has been accused of overcharging its policyholders early in the COVID-19 pandemic. A federal judge recently decided that a California car insurance lawsuit accusing Geico of having overcharged over 2 million drivers in the state on their premiums early in the pandemic can proceed as a class action. The judge rejected the insurer’s arguments that the lawsuit would lead to “insurmountable manageability problems”. US District Judge Beth Labson Freeman of San Jose rejected Geico’s assertions that a group California car insurance lawsuit regarding the unsatisfactory nature of the…

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California agents seek an end to the auto insurance rate moratorium

Auto insurance - Woman and Man with arms crossed

A group representing the agents says it is having a negative impact in the state. A California auto insurance group has become quite vocal about their opinion against Commissioner Lara’s recent rate moratorium. According to the agents, the commissioner’s moratorium is negatively impacting state consumers. The American Agents Alliance has stated that they are opposed to Lara’s auto insurance rate moratorium in California. The alliance is based in Sacramento, California, and is an association of professionals in the insurance industry. “Commissioner Lara’s Rate Moratorium and his refusal to process automobile…

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Toyota auto insurance takes its first steps into Texas

Auto insurance - Toyota Sign - Texas

The automaker’s branded coverage product launched at the end of last year and is expanding. Toyota auto insurance (TAI), the automaker’s branded coverage product which launched last December, has now announced that it is moving into Texas for the first time. Texas is the second largest market in the United States and will be an important move for the insurer. The insurer called the move a “major milestone” for its product. Including Texas, TAI is now available in eight US states, including Arizona, Illinois, Indiana, Missouri, Ohio, South Carolina, Tennessee,…

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How much more do you pay in auto insurance after a crash?

Auto insurance - Car Collision

Following an accident, most insurers will hike your monthly premiums by a certain amount. A car accident is never good news, but beyond the immediate issues it causes, it can also cause your auto insurance premiums to rise. That said, consumers often wonder how much more they will pay after suffering a car crash. Unfortunately, there’s no fast and solid answer to tell a driver precisely how much more they will pay for auto insurance after an accident. There are many different factors that are taken into consideration, including the…

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Mercury is one of the “Best Insurance Companies in America” for 2023, says Forbes

Insurance Companies - High Rating

The respected designation was granted to only 78 insurers in the United States (out of over 3,300). Forbes has named Mercury among the “Best Insurance Companies in America” for 2023 in both the homeowners’ and renters’ categories. This is a respected designation among insurers, and not many of them have earned their way in. Forbes named 78 insurance companies in this category, among over 3,300 across the United States. To determine which insurers were worthy of the title, the Forbes worked with Statista, a market research group, which surveyed customers…

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State Farm sees a drop in auto insurance claims for animal collisions

Auto insurance - Deer by side of road

Compared to last year, there has been a 5.5 percent decrease in accidents with wildlife. State Farm has released its statistics this year for auto insurance claims made as a result of animal collisions, and the news is good as the instances have decreased by a substantial 5.5 percent. It should still be noted that November is considered to be the most dangerous month. From July 2021 through June 2022, there were an estimated 1.9 million collisions with animals on roads across the United States. Still, that is a decrease…

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