Michigan auto insurance is unaffordable to 97 percent of ZIP codes, says UM study

Michigan auto insurance - Car Crash

Nearly every ZIP code has car insurance premiums greater than 2 percent of household income. Michigan auto insurance rates are too high to be considered affordable to people living in 97 percent of the ZIP codes across the state, says a new University of Michigan study. The research was conducted by Poverty Solutions, the university’s campus-wide think tank. The study determined that the cost of auto insurance represented too much of a household’s income. What the researchers found was that in 97 percent of the ZIP codes across the state,…

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Auto insurance claims satisfaction is higher than ever before

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A new J.D. Power study showed there is still a struggle in getting customers to report over digital channels. Auto insurance claims satisfaction has hit an all time high, according to the outcomes of a new J.D. Power study. That said, insurance companies are still finding it challenging to get their customers to use digital claims reporting tools and products. The nature of claims has been undergoing an important change, but insurers appear to be keeping up. “These findings are noteworthy in light of claim severity outpacing the decline in…

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Auto insurance customer satisfaction reaches new record, says J.D. Power

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Considerable improvements to policyholder support and services have made the difference. Auto insurance customer satisfaction has reached an all time high, says a new J.D. Power study. The J.D. Power 2018 Auto Insurance Study said there were a number of improvements that led to this positive result. Insurance companies are starting to find their balance with customer interaction, said the study. The study results showed the difference was made by improvements in billing and payments, digital interactions, and offerings. The auto insurance customer satisfaction is improving due to a better…

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Auto insurance research reveals best states for savings

Auto Insurance discounts

The researchers examined 49 potential discounts available within every state in the country. One of the most common methods that auto insurance companies use to remain competitive and to ensure that their current customers remain content with the service they are receiving and the price that they are paying for it is through discounts. A new study has shown that the degree if discount based savings varies from one state to the next. An analysis was conducted by Insure.com regarding the availability of 49 different types of discounts in each…

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Auto insurance is far higher for some Florida drivers than others

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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…

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Auto insurance telematics appealing to most European drivers

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Provided that premiums would not increase, the majority of motorists would opt for usage based coverage. According to the results of a recent survey among six countries across Europe, the majority of drivers would choose an auto insurance program that uses telematics if they were guaranteed that they would not experience a premiums increase. Most of the survey respondents expressed a level of interest in usage based coverage programs. The majority of the participants in this recent Towers Watson survey said that they were interested in usage based auto insurance…

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Auto insurance survey gives the leaders some time in the spotlight

Health Insurance survey

This latest study took a number of different categories into consideration to show where insurers shine. The auto insurance industry has just undergone another study, this time to help to provide some insight into the way that consumers think about the various insurers offering them coverage. Leading the companies in terms of customer satisfaction was USAA. According to the respondents to the auto insurance survey, one in every four said that they had considered changing their providers at some point during the last year. Among the customers in that category,…

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