The pandemic hasn’t stopped auto insurance claims satisfaction from rising

Auto insurance claims satisfaction - Woman smiling in car

Consumers continue to be increasingly pleased with the quality of their experience, says JD Power. The pandemic hasn’t stopped steady improvements in auto insurance claims satisfaction from continuing this year. In fact, the reduced number of filings may have contributed to this trend. Fewer claims have given insurers the opportunity to fine tune their customer service. As a result, insurers are able to provide higher quality claims service, leading to improved auto insurance claims satisfaction among customers. The J.D. Power 2020 U.S. Auto Claims Satisfaction Study recorded a 22 percent…

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Insurers brace for a spike in Halloween insurance claims

Halloween insurance claims - Jack-O-Lantern

This holiday has become one of the traditions leading to a spectrum of filings on many policy types. Halloween insurance claims have been climbing with each passing year. Despite the impact of the pandemic, it is still expected to cause filings to rise. Insurers are getting ready to receive the calls for vandalism, theft, and crashes. On this holiday in 2016 through 2019, Statista data showed that 70 percent of Americans intended to take part in celebrations on this day. The COVID-19 pandemic is holding back the celebrations, but 58…

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Toyota Insurance partners with Swiss Re European risk rating system

Toyota Insurance - Red Toyota Car

The automaker has announced that it is joining the insurer’s vehicle risk rating system. Toyota insurance has become the latest partner in the Swiss Re platform that assigns a vehicle risk score to make it easier for insurers to calculate premiums that take new safety features into account. This new partnership will apply to the Toyota and Lexus vehicle models rolling out in Europe. By way of this partnership with Toyota Insurance Services (TIS)/Toyota Insurance Management Europe, Swiss Re’s Advanced Drivers Assistance Systems (ADAS) risk score will be extended to…

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Car insurance savings from pandemic likely to disappear and rates may rise

Car insurance savings - parked car

Many insurers are likely to begin requesting rate increases, particularly in states such as Florida. Millions of drivers across the United States have been benefiting from car insurance savings in different forms since the start of the pandemic crisis. Some insurers issued refunds, while others provided rebates and yet others lowered their rates. That said, it appears that rates may be returning to normal and some may even be increasing. A recent ABC Action News report pointed to at least one major insurer that would be seeking to raise auto…

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What is a No-Fault State?

what is a no fault state mean

Currently, there are 13 no-fault states in the U.S. These include Florida, Kentucky, Michigan, New Jersey, and New York. If you live in a no-fault state, it means that a driver has to first file a claim with their own insurance company if they’re in an accident. Every state sets its own laws as far as who pays for an accident. Sometimes when there’s an accident involving two parties, the goal isn’t determining fault. The following are specific things to know about living in a no-fault state. Overview of a…

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Metromile partners with Ford for pay per mile insurance

Pay per mile insurance - Speedometer

The automaker is offering the coverage along with the sale of all its new connected cars. Ford is offering new car buyers an opportunity to use pay per mile insurance to safe money on their auto coverage. As millions of Americans have changed their driving habits and are working from home, there may be an opportunity to save on lower annual mileage. The automaker is offering the coverage through Metromile start-up auto insurance company. The partnership between Ford and Metromile may make it easier for drivers to access the pay…

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Tesla car insurance program is headed out of California and into China

Tesla car insurance program - Tesla electric vehicle

The electric carmaker’s own coverage is launching a new business unit outside the US. The Tesla car insurance program is beginning its business expansion beyond California and is taking its firs steps into China. The electric automaker launched the coverage in California last year to make policies cheaper. The Tesla car insurance program has remained available exclusively to drivers of the brand’s own vehicles who reside in California. The goal at the launch of the policies was to make premiums 30 percent cheaper than the competition. The company is now…

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