Special auto insurance required in Mexico for American tourists

mexico auto insurance

Over the colder winter months, tourists regularly head south, but their personal policies may not cover them. Driving from the United States of America down south to the United Mexican States is a very common occurrence when a little bit of warmer weather is desired during the winter months, but many Americans don’t know that they will need a special auto insurance policy in order to be able to stay behind the wheel once they’ve crossed the border. A car insurance policy based in the U.S. will not be accepted…

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Auto insurance competition helps U.S. drivers

Auto Insurance rates and prices

It is believed that this heavily regulated industry keeps its prices down because of the need to compete. The Insurance Information Institute (I.I.I.) has released a report that has stated that even though the auto insurance industry is extremely regulated in the U.S., the high level of competition within the marketplace is making sure that coverage is broadly available to motorists and stays affordable. The cost of this coverage has been increasing at a slower rate than gasoline and healthcare, said the I.I.I. In response to a Consumer Federation of…

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Auto insurance rate calculation factors may harm lower earners

auto insurance premiums

Americans whose incomes aren’t as high are being viewed unfavorably by many vehicle insurers. A number of large auto insurance companies in the United States are still using a driver’s education level and occupation as factors that are used in the calculations of his or her rates. A recent report is suggesting that this practice is pricing out earners in the low and moderate income brackets. The Consumer Federation of America has now released a report that has looked into the impact of the behaviors of auto insurance providers when…

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Auto insurance in Maine is among the most affordable in the US

Homeowners and Auto Insurance

A recent NAIC report has shown that the state has some of the lowest rates in the country. Eric Cioppa, the Insurance Superintendant for Maine, has announced that two reports released by the National Association of Insurance Commissioners (NAIC) have shown that the state’s auto insurance affordability has improved when compared to other states in the country. It indicated that drivers in Maine are now in one of the top ten most affordable states. This means that the auto insurance costs within Maine are considered to be within the top…

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Auto insurance prices increasing for third year

florida no fault car insurance

The cost of vehicle coverage will rise by 2.8 percent this year. American drivers are likely to experience yet another increase in their auto insurance rates, for the third year in a row as insurers attempt to increase their profits in a time that interest rates have been held at record lows, and natural disasters have caused costs to skyrocket. The average driver will likely see an increase of 2.8 percent, according to the Insurance Information Institute. This means that consumers who were paying an average of $816 last year…

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Auto insurance companies offer some motorists variable and high rates for low coverage

Auto Insurance

Good drivers from areas of moderate incomes are seeing increased costs. According to data from the Consumer Federation of America (CFA), which just released a report on its research, the majority of good drivers – that is, those who have no moving violations or accidents on their records – who reside in the moderate income areas of 15 cities included in the study, are receiving quotes for high rates by the leading insurers for auto insurance for the lowest legal liability levels for their states. Among the rate quotes, 56…

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