Texas auto insurance claims filed by the thousands, and they’re just getting started

Floodwaters flood auto insurance claims

Insurers covering vehicles in areas affected by Hurricane Harvey expect hundreds of thousands of claims. Auto insurance claims have already started filing in as a result of Hurricane Harvey, but despite the high numbers, they’re just getting started. Insurance companies throughout the affected regions are bracing for hundreds of thousands more. In fact, as of last Thursday, the 100,000 mark had already been passed. “We do know that approximately 100,000 claims have come in,” said the Insurance Council of Texas manager of governmental and regulatory communications, Matt Stillwell. That trade…

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Auto insurance rates getting more expensive, says J.D. Power

auto insurance rates companies customer satisfaction

The firm’s 2017 U.S. Auto Insurance Study revealed that more than 1 in 4 drivers is paying more. J.D. Power released its 2017 U.S. Auto Insurance Study showing that auto insurance rates are headed skyward for a quarter of Americans this year. This came with the not-too-surprising news that drivers are less satisfied with their car insurance companies than they were previously. The car insurance rates are having a direct impact on how satisfied Americans are with their insurers. The J.D. Power study this year found that 26 percent of…

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Are car insurance rates higher in urban minority neighborhoods

Car Insurance rates

A recent study suggests that they are, but the research report has been accused of producing flawed findings. A new car insurance rates study has been published by ProPublica and Consumer Reports. It suggests urban neighborhoods populated primarily by minorities pay higher auto insurance premiums than comparable communities of lower minority populations. However, an insurance industry group has accused the report’s findings of being flawed and misleading. The study used car insurance rates data from California, Texas, Missouri and Illinois. The data was broken down by ZIP code and claims…

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Geico auto insurance rates headed skyward in Illinois

Geico auto Insurance

The average premiums increase is expected to be 3.5 percent, according to state records. Geico auto insurance will be increasing its rates in Illinois next year. The company, which is owned by Berkshire Hathaway, will raise premiums by an average of 3.5 across the state. The new Illinois auto insurance rates will become effective on February 6, 2017 for policy renewals. This is not the only increase being issued by Geico auto insurance. In fact, the insurer has been making similar announcements across the country. Throughout 2016, the average policy…

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Car insurance company fails to use Facebook to learn about potential customers

Facebook car insurance company

The social network has stopped a U.K. insurer from using people’s posts as a part of rate calculations. Facebook is now blocking U.K. car insurance company, Admiral Insurance, from being able to use customer posts as a part of their premiums calculations. The insurer intended to look at everything from the use of superlatives (for example, “never”), to the frequency of use of exclamation points and even the length of posts to decide a customer’s rate. That said, Facebook was quick to stop the auto insurance company before it could…

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Auto insurance company websites are a big fail, say consumers

mobile car auto insurance company

A recent J.D. Power survey showed that customers aren’t satisfied with the sites run by their insurers. As a whole, the customer satisfaction level a customer feels from his or her auto insurance company has actually been quite strong, according to a J.D. Power survey. However, that feeling doesn’t necessarily carry over to the experience provided by the websites of those insurers. Only slightly more than one half of all auto insurance customers have said they “definitely will” return to the site. Considering the number of people who use websites…

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Safety ranking for auto insurance sees better scores in vehicles made in Japan

Car Crash Statistics auto insurance

Japanese automakers have taken the top spots for safety vehicles throughout the 2016 model year ranks. The Insurance Institute for Highway Safety (IIHS) has now revealed information that is extremely handy to consumers and auto insurance companies, alike, and has stated that there were 48 vehicles from the 2016 model year that earned the “Top Safety Pick Plus” highest possible rating. This is a considerable improvement over the figure from 2015, when only 33 vehicles received the top rating. The three automakers that earned the highest number of “Top Safety…

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The average auto insurance customer hasn’t switched companies since 2003

auto insurance premiums

According to recent research, one in every three drivers has not shopped around at all for a policy. A recent study was conducted by insuranceQuotes.com, which has now issued its results in a report that showed that the average American driver hasn’t changed the auto insurance provider covering their vehicle in over a decade. In fact, the average length of time since the last change in insurance companies was 12 years, said the report. Furthermore, about one quarter of all drivers have been sticking with the same auto insurance company…

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Loyalty may mean consumers are paying more for auto insurance coverage

auto insurance premiums

Consumers could find less expensive coverage if they switch carriers Loyalty may be costing drivers in terms of auto insurance premiums. Many consumers opt to stay with their insurance provider because they are provided with certain benefits, such as credit toward insurance payments or discounts on other services. This loyalty may not be as beneficial to consumers as they believe, however, and they could find less expensive auto insurance coverage by switching to another insurer, and this may be a greater benefit than the loyalty rewards they are receiving from…

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Google is stepping into auto insurance sales

google auto insurance industry

The internet giant intends to begin selling policies for vehicle coverage in the United States market. According to a statement recently made by an analyst, Google Inc. has intentions to make its way into the American auto insurance market with a website that will give people across the United States the opportunity to compare policies and buy coverage. This is only the latest step in a broader effort that the company to make its way into the U.S. automotive industry. The internet search giant is going to be creating a…

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