Live Insurance News

Auto insurance premiums in the U.S. may slide with driverless cars

September 21, 2016September 19, 2016 Logan B.

As autonomous vehicles roll out – and as that continues into the future – coverage rates will plummet. A new report from Aon Benfield addressed auto insurance premiums in a world of self driving cars. It examined the insurance rate trends that will occur with the expected increasing popularity of autonomous vehicles. The report suggested car owners will be paying a lot less for coverage when cars drive themselves. The predictions are that the “industry pure premiums” will fall a full 20 percent from last year through 2035. This forecast…

SpaceX explosion destroys uninsured Falcon 9 rocket

September 6, 2016September 2, 2016 Julie Campbell

spacex explosion rocket launch insurance

That said, the contents of the rocket may have been covered by their own policies. The SpaceX explosion shocked the world, particularly when it was revealed that the Falcon 9 rocket was not insured. The rocket burst into flames on the launch pad in Cape Canaveral, Florida. There were neither fatalities nor injuries in this explosion, which did make it a very fortunate one. That said, due to the lack of coverage, SpaceX will likely need to cover the losses from the rocket. Moreover, it will also need to deal…

Tesla auto insurance becomes the company’s next venture

September 1, 2016August 31, 2016 Logan B.

The company best known for its electric cars is now stepping into the coverage side of the business. Tesla auto insurance is now underway. The electric car company has now opened the doors to a new revenue stream. This has meant to give consumers more options when trying to find coverage for their electric vehicles. Traditional insurance plans don’t always suit the needs for the complexities of all-electric cars. The InsureMyTesla policy is meant to be a solution to this problem. Tesla auto insurance will be offered exclusively for covering…

Verifly drone insurance launches a US pay as you fly coverage

August 10, 2016August 11, 2016 H. Cutner

A startup has created an on demand and per flight form of insurance policy for drone users. The Verifly drone insurance policy launched after having been in the making since the end of 2014. This policy makes it possible for drone users to pay for coverage per flight and on demand. The drone insurance policy uses a mobile app and service that have been in development since 2014. The Verifly drone insurance coverage is available in the United States. The policy covers unmanned aerial vehicle (UAV) use within the commercial…

Can red light cameras save on your life…and insurance premiums?

August 3, 2016August 1, 2016 G. Turner

A new study by the Insurance Institute for Highway Safety shows these devices reduce fatalities. There aren’t a lot of vocal fans in favor of red light cameras. However, according to a new study published by the Insurance Institute for Highway Safety (IIHS), these controversial gadgets may be more useful than we think. The study revealed that these stoplight cameras do, in fact, save lives when they are installed at intersections. Moreover, the IIHS research also pointed out that when cities remove red light cameras, accidents at those intersections rose…