Live Insurance News

Auto insurance rates aren’t likely to drop with inflation

February 8, 2023February 9, 2023 G. Turner

Even as rates have started dropping, it is unlikely that drivers will see their premiums easing. Though drivers might be inclined to believe that as inflation starts to fall, auto insurance rates aren’t likely to get any cheaper. In fact, premiums are expected to rise, and in some areas, they’ll be increasing by quite a bit. The average cost of full coverage is $2,014 in the United States, which is 14 percent higher than last year. According to the True Cost of Auto Insurance Report by Bankrate, the average cost…

Auto insurance is far higher for some Florida drivers than others

October 22, 2013November 4, 2013 Julie Campbell

A recent report has shown that motorists in the state have premiums highly impacted by their location. A report that was recently released by ValuePenguin.com has revealed that location plays a very important role in the cost of auto insurance in Florida, as it does in most other states, and has revealed the cities in which drivers are paying the highest amount for their coverage. It showed that the cost of coverage in Tampa and St. Petersburg is among the highest in Florida. The average rate for the drivers in…

Auto insurance UBI programs gain massive popularity

September 3, 2013August 31, 2013 Julie Campbell

Both insurers and consumers are finding the benefits of pay as you drive coverage to be highly appealing. According to the results of a recent survey, the consumer interest in usage based auto insurance is rapidly climbing, and that it is likely that insurers will take rapid action to take advantage of the appeal that this type of program has to offer. Estimates are now indicating that by 2018, one in every five insurers will offer usage based insurance (UBI). The survey was conducted by Lynx Research Consulting, and it…

Auto insurance trend shows decrease in consumer shopping

May 2, 2013April 30, 2013 G. Turner

J.D. Power and Associates has reported that among those who are shopping, many will switch. The latest J.D. Power and Associates report has just been issued, revealing that while the percentage of auto insurance customers who are shopping for coverage has dropped to its lowest point in six years, the percentage of those who are checking out what’s available to them will switch insurers in half of the cases. The number of shoppers who are changing their insurers has reached a six year high. The report is called the J.D.…

Auto insurance fraud rising most quickly in Minnesota

January 28, 2013April 30, 2013

The state is now leading the country in organized scams to the vehicle coverage industry. An auto insurance news report was just issued by the Insurance Federation of Minnesota, which made a call to legislators, prosecutors, and regulators to increase their efforts to crack down on the fraud that is occurring within the industry in this state. This request is to boost the efforts that these officials have already been making for this purpose. There is already a crackdown in place to help to stop the no-fault auto insurance fraud…