American auto insurance marketplace competitiveness underlined by I.I.I. using research findings

Auto Insurance

Quotes vary enormously showing significant difference in risk assessment by insurers. The Insurance Information Institute (I.I.I.) has used the findings of a recent survey to determine that American drivers in low and moderate income ranges can greatly benefit from the high level of competition in the auto insurance marketplace. At the same time, the Consumer Federation of America (CFA) is seeking to find out why quotes vary so much. According to the I.I.I. president, Dr. Robert Hartwig, who is also an economist, the answer to that question isn’t complicated. “The…

Read More

Auto insurance companies offer some motorists variable and high rates for low coverage

Auto Insurance

Good drivers from areas of moderate incomes are seeing increased costs. According to data from the Consumer Federation of America (CFA), which just released a report on its research, the majority of good drivers – that is, those who have no moving violations or accidents on their records – who reside in the moderate income areas of 15 cities included in the study, are receiving quotes for high rates by the leading insurers for auto insurance for the lowest legal liability levels for their states. Among the rate quotes, 56…

Read More

Progressive Insurance adds to mobile commerce offerings with recreational and sports vehicle coverage quotes

Progressive Insurance has announced that it has expanded its mobile commerce offerings to consumers by adding the ability to use a smartphone or tablet in order to receive quotes for the coverage of motorcycles, RV’s boats, and other recreational and powersports vehicles. Progressive Insurance is already the leading motorcycle insurance company in the United States, and is also the top boat and RV insurer. Clearly, it saw the benefit in expanding its current mobile quote optimization to include this group of vehicles as well as more traditional cars, SUVs, pickups,…

Read More

First Car Insurance Comparison App Launched in UK

 A British price comparison service has become the first company to launch a car insurance price comparison app which is available to all iPhone and iPad owners. MoneySupermarket.com has teamed up with renowned app experts MIG (Mobile Interactive Group) to produce the app which retrieves car insurance quotes from over 100 different providers in a matter of minutes.  The company says that it expects the app to prompt other comparison services to produce a similar service, with American insurers also likely to take an interest in the latest developments.  High…

Read More

New dirt bike law may decrease recreational vehicle insurance rates

President Obama has signed a law that is designed to bring some relief to Americans who are affected by a product safety law that was enacted in 2008 in order to prevent children from obtaining toys containing lead. The law went into effect in 2011 and risked prohibiting the sale of four-wheelers and dirt bikes meant for children aged 12 and younger. Businesses selling these recreational vehicles, and the families who purchase those vehicles from them, asked the federal government for assistance in overcoming this struggle. Congress passed House Resolution…

Read More

California Car Insurance: Sequoia offering new “Pay As You Go” insurance plan

Following the latest insurance trend sweeping the nation, Sequoia Insurance Co., one of the largest insurers in California, will begin offering a pay-as-you-drive auto insurance policy. Sequoia joins State Farm and Progressive in offering this particular policy, increasing the options available to California drivers. Progressive was the first to incorporate this concept into their coverage options after finding that fewer people were taking to the road in light of rising gas prices and other costs. Drivers interested in the coverage must first have a small device installed in their vehicles.…

Read More

Why are Michigan car insurance rates highest on average?

According to a new national survey conducted by Insure.com, Michigan is home to the highest average car insurance premiums in the U.S., followed closely by Louisiana and Oklahoma. Insure.com compiled data from six of the largest auto insurance providers in the nation and more than 2,400 vehicles from across 10 zip codes in each state. The company conducts this survey annually and lists the results for all to see on their website. The average yearly premium for car insurance in Michigan rose by $443 according to the survey, up from…

Read More