Tag: auto insurance companies

Google holds discussions with auto insurance providers regarding driverless car

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auto insurance for self driving car

Major auto insurance providers have been involved in discussions with Google over its driverless car project. The driverless car project at Google has been the topic of some significant discussions that the search engine giant has been holding with some of the country’s top auto insurance companies as they address the implications of using this technology into the vehicles that will be used in the real world. According to the Google self driving car project’s product manager, Anthony Levandowski, in a keynote address that he gave in Detroit at the…

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Satisfaction with auto insurance claims remains steady regardless of rise in number of claims and repair times

A report released by J.D. Power and Associates, called the 2012 Auto Claims Satisfaction Study – Wave 1, that has shown that despite the fact that there has been a rise in the number of car insurance claims, and it is taking longer for vehicle repairs to be completed, customer satisfaction remained about the same throughout the last quarter of 2011. The number of claims rose as a result of damage from weather, which also meant that repair shops faced a higher-than-normal volume during that last quarter. The average length…

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Study suggests that auto insurance may be too expensive for low income drivers.

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A new study from the Consumer Federation of America (CFA), a consumer advocacy group, suggests that auto insurance is too expensive for the poorest Americans to afford. CFA claims that this is to bias seen in the insurance industry despite the fact that insurers cannot base prices solely on a person’s income. In most states, however, insurers can use socio-economic information to price policies, which directly correlates to income. This could be a major problem in states in which auto insurance is mandatory for all drivers. The study shows that,…

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National Association of Insurance Commissioners applauds achievements of deregulation of auto insurance in Massachusetts

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According to the National Association of Insurance Commissioners, following the deregulation of the auto insurance marketplace in Massachusetts in April 2008, the average driver’s coverage premiums decreased by $133.80 per year. The Association released a report that showed that at the end of 2007, the average premium had been $1,056.91 per year. Two years later, at the same time, it had dropped to $923.11. That meant that the average decrease in auto insurance premiums was 12.7 percent per year. It noted that only the figures considered only the premiums paid…

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Growing popularity of auto insurance telematics programs provide more discount opportunities

Online Auto Insurance (OAI) has been encouraging customer awareness over a broader array of opportunities to find discounts on their coverage through motorist behaviors such as safe driving and low mileage, following a number of recent reports that are showing that insurers are likely to begin significant investments into technology that will record and transmit information about the driving behaviors of policyholders. A growing number of insurance companies have already been offering programs on an optional basis that allows motorists to install an electronic device into their vehicle that will…

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