Tag: auto insurance

Auto insurance news concerning consumer tips, company updates and insurance law updates.

No-fault auto insurance overhaul bill passes Michigan Senate

H. Cutner
Auto insurance - No Fault - Car accident

The state’s Legislature held its first vote to modify the system near the end of last week. The Michigan Legislature voted on a bill to modify the no-fault auto insurance system in the state, approving changes meant to reduce the cost of coverage for drivers while overcoming some of the challenges left behind by the overhaul made in 2019. The 2019 changes cause certain medical providers to stop providing care to car crash victims. The new legislation voted on last week passed the Senate. It was meant to boost reimbursement…

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Auto insurance challenges expected to ease, says S&P US report

Logan B.
Auto insurance - Woman sitting in car, frustrated

Though rates have been rising sharply during the pandemic recovery, that trend will level out. According to the S&P Global Market Intelligence US Auto Insurance Market Report, private insurer results are expected to improve from where they stood last year, when the combined ratio of 112.2 percent was the worst seen in decades. That said, according to the report, the improvements won’t occur as quickly as the industry had hoped. The private auto insurance results are still expected to improve, though not as fast as was previously predicted. “The post-pandemic…

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State Farm auto insurance reveals states where you’re most likely to hit an animal

G. Turner
auto insurance - Deer by the side of the road

The insurer has released data based on the claims it has received from drivers in every state. According to State Farm auto insurance claims, November is the month in which a driver is most likely to be in a collision with an animal, and there are some states in which that risk is notably higher than others. The insurer has compiled a list of the states where drivers hit the most animals while on the road. According to State Farm’s auto insurance claims and industry data, there will be an…

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State Farm expected to raise Louisiana auto insurance rates

H. Cutner
Auto Insurance - Insurer

The insurer covers more than a quarter of all drivers in the state, many of whom will soon pay more. State Farm, the insurer that currently provides auto insurance coverage to about 29 percent of Louisiana drivers, is expected to raise its rates in the state. This will mean that more than a million people might find their premiums moving up. According to Louisiana Insurance Commissioner Jim Donelon, there are several reasons that State Farm is seeking to bump up its rates by double-digit average amounts. “This 17.3% rate increase…

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Auto insurance dissatisfaction drives usage-based coverage growth

H. Cutner
Auto insurance - Usage-based coverage increasing

About one third of covered US consumers said they had experienced a rate increase in the last year. Across the United States, around one in three drivers with coverage experienced a rate increase within the last year, said a new JD Power 2023 US Auto Insurance Study. This has pushed them to look for new ways to save money on their policies that they might not have tried before. Mainly due to the rising expense associated with covering their vehicles, customer satisfaction with this coverage fell by 12 points to…

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