Car insurance rates and clothing prices affect inflation

clothes car insurance rates

These consumer prices are having a direct impact on the rate of inflation, say economists and analysts. According to recently released American economic data, car insurance rates and clothing prices are impacting the rate of inflation. Not including energy and food, U.S. consumer prices increased by 0.3 percent in January. Food and energy were left out due to their volatility. That most recent price jump represented the fastest monthly increased experienced in a year. The consumer price spike will likely only worsen concerns regarding the financial markets. According to the…

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Michigan auto insurance rates are highest of any U.S. state

Michigan Auto Insurance rates

Newly released survey results show that drivers in the state aren’t wrong about how much they’ve been paying. It shouldn’t come as much of a surprise to know that Michigan auto insurance rates are high. Drivers in the state have been complaining about their premiums for years and lawmakers have made several attempts to alter this situation. A recent survey has confirmed yet again that Michigan drivers are indeed paying more than any other state. The survey confirmed that Michigan auto insurance rates are in fact the highest, on average,…

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High-tech car features push increasing auto insurance premiums

Increasing auto insurance premiums technology

The more fancy gadgets become commonplace in cars, the more expensive it becomes to repair them. Technology designed to make cars safer and more convenient may reduce accident frequency but may also be increasing auto insurance premiums. The gadgets make it easier to navigate the roads but when damaged, they are more costly to replace. Tech enhancements include everything from touch screen control panels, backup cameras, blind spot monitoring and additional help to keep us aware of what’s going on around us. However, those gadgets aren’t cheap. When they do…

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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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North Carolina auto insurance customers will be paying more for coverage

north carolina auto insurance

Rates are expected to rise for many drivers in October, though the increase is less than what it might have been. North Carolina auto insurance rates may be on the rise in October, but drivers could have seen a much higher hike if regulators hadn’t stepped in. The state Department of Insurance signed a settlement agreement with the N.C. Rate Bureau to allow for a considerably lower rate increase than initially proposed. Insurance Commissioner Mike Causey made the announcement regarding the settlement agreement signing. Initially, the state Rate Bureau requested…

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California auto insurance investigating premiums discrimination

san francisco california auto insurance

The state Department of Insurance launched an investigation into the factors used to calculate rates. The California auto insurance industry may soon be changing the way its rates are calculated in order to reduce discrimination against drivers from minority neighborhoods. The California Department of Insurance launched an investigation into the practices of eight auto policy providers in the state. The investigation is meant to decide whether the insurers are discriminating against people in minority neighborhoods. The California auto insurance rate investigation was launched in response to an article published on…

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Allstate auto insurance rates are going up for Illinois drivers

allstate auto insurance

The insurer has increased premiums in the state by an average of 6 percent, following a statewide trend. Allstate auto insurance customers are about to face an increase in the rates they’re paying for their policies. This announcement was made only 6 months after a similar one was made State Farm, the largest car insurance company in the state. The average increase for drivers in the state with Allstate coverage will be about 6 percent. The original filing to increase Allstate auto insurance rates was made in January. An Illinois…

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State Farm auto insurance losses are higher than ever before

state farm auto insurance losses accident

The insurer lost more money on car policies throughout 2016 than it has in its almost century-long existence. State Farm auto insurance lost more money providing drivers with coverage in 2016 than they have in any other year since its creation 95 years ago. All told, the insurance company lost about $7 billion within the vehicle coverage segment of its business. State Farm auto insurance is by far the biggest vehicle insurer in the United States. It received $35.8 billion in claims and adjustment expenses in 2016. That total, in…

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Auto insurance premiums head skywards due to smartphone use

auto insurance premiums car mobile smartphone

The Washington Insurance Commissioner’s Office has blamed mobile device use for a 5.9 percent rate increase. Consumers wondering why they’re paying higher auto insurance premiums may not have to look any further than their smartphones. The Insurance Commissioner’s Office in Washington State said the top 20 insurance companies hiked rates by 5.9 percent last year. That said, the insurance rate for motorists has been on its way up across the country. Across the country, the average amount drivers are paying in auto insurance premiums reached $926 in 2016. Throughout the…

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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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