Uber liabilities means the rideshare company “depends heavily” on insurance coverage

Uber liabilities - Uber app

The firm is on its way to its initial public offering and would not have reached this place without policies. Uber liabilities are widespread due to the very nature and size of the company. As it comes closer to its initial public offering (I.P.O.), many are recognizing that insurance coverage was integral to its success. The rideshare company is seeking to raise $10 billion along the way to its initial public offering. Uber Technologies Inc. openly acknowledges that it wouldn’t have been possible for it to reach this point without…

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Arkansas Insurance Department cautions drivers against car policy scam

Arkansas Insurance Department - car - hand - insurance scam

Commissioner Allen Kerr has issued a warning to consumers in the state due to fraudulent policy sales. The Arkansas Insurance Department recently issued a warning to drivers to take care when purchasing an auto insurance policy. There has been a broad rash of fraudulent car insurance policy sales in the state. The fake car insurance is being sold by people posing as agents and are primarily selling at dealerships. According to the Arkansas Insurance Department warning, the fraudulent auto insurance policies are being sold mainly at car dealerships. People pretending…

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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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New study reveals 2019 cheapest cars to insure…and the most expensive

Cheapest Cars to Insure - Honda Odyssey Minivan

Consumers looking for the vehicle that will generate the lowest premiums are paying attention. Regardless of your driving record, your risk profile and where you live, the difference between the cheapest cars to insure and the costliest can be staggering. The wrong vehicle choice can skyrocket the amount a driver pays every month in premiums. There are many factors that determine the cheapest cars to insure. While it’s easy to assume that the least expensive vehicles will also be the least expensive to cover, that’s not always the case. Indeed,…

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Daylight Saving Time comes with an hour less sleep and added risks, say insurers

Daylight Saving Time - woman sleeping on table

Insurance companies are reminding consumers to take certain precautions this year. Daylight Saving Time causes many of us to grumble about losing an hour of sleep, but this year, insurers used the date to remind consumers of other potential risks. They are hoping people will take certain precautions to keep themselves, their families and their properties safe. Moving clocks ahead can come with greater hazards on the roads from sleep deprived drivers. Just one hour’s difference from Daylight Saving Time causes traffic accidents to spike every year at this time.…

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Auto insurance will be unrecognizable as self-driving cars flood US roads

Self-driving cars - Vehicle in Tunnel

These automated vehicles will remove 90 percent of the risk associated with driving a car. Self-driving cars may still be at their very earliest uses in certain very specific locations, but the auto insurance industry is already bracing for them. After all, these vehicles will change the nature of the need for coverage. As it appears that a substantial amount of the risk from driving will shrink, insurers are bracing themselves. At the moment, the first wave of self-driving cars come with astronomical premiums. A recent Bloomberg report pointed to…

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State Farm auto insurance rates drop in several states (including the most expensive)

State Farm auto insruance rates - Car on coins

The insurer has announced that drivers in many states will be feeling a bit of relief from their rates. State Farm auto insurance rates are falling in a number of states, including two of the most expensive places to drive in the country. Two states that will experience relief over what they had been paying include Michigan and Louisiana. Michigan drivers – who pay, on average, more than any other motorists in the country – will see an average State Farm auto insurance rate reduction of 3.5 percent. In total,…

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