Tag: Auto Insurance

New Michigan auto insurance law to become effective next month

Marc
Michigan auto insurance law - Michigan license plate

The new regulations meant to lower prices for drivers in the state will become effective July 1. On Tuesday, June 23, 2020, the state Department of Insurance and Financial Services held a meeting to answer questions about the new Michigan auto insurance law. The meeting was meant to answer questions and provide more information about the regulations. The new Michigan auto insurance law was developed in the hopes of reducing the cost of the coverage. At the same time, it is meant to help keep up the highest options available…

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Progressive auto insurance premium growth slows due to COVID-19 crisis

Logan B.
Progressive auto insurance - Porsche car with break lights on

The pandemic hasn’t stopped the insurer from seeing a rise in its profitability. The short-term impact from the pandemic on Progressive auto insurance may turn out to be a rise in underwriting profitability while premium growth shrinks. S&P Global Market Intelligence conducted a monthly earnings report analysis on the insurer. The analysis revealed that Progressive auto insurance saw improvement in its personal vehicle combined ratio, but at the same time its premium growth was applying the brakes. That impact was recorded on both the month-to-month and year-over-year data for March…

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Michigan auto insurance to undergo substantial changes throughout 2020

Marc
Michigan auto insurance - Michigan license plate

High rates have been a source of contention in the state where drivers pay more than the rest of the country. High Michigan auto insurance rates and how to overcome them has been a controversial topic in the state for decades. In the second half of the year, premiums are likely to fall due to a number of changes in the state. This year, when policies renew on and after July 1, vehicle owners will see a change in those rates they’ve been complaining about for many years. According to…

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Alabama auto insurance fines hit hard, even when renewing one day late

Marc
Alabama auto insurance - Fines - Money

The state has skyrocketed its fines for motorists who allow their vehicle coverage to lapse. Alabama auto insurance fines are heading skyward and drivers who allow their policies to lost – even for a single day – are about to suffer an unpleasant shock. The penalty for allowing a policy to lapse, even for one day, is $200 under the new rules. Probate judge and Cleburne County Commission chairperson Ryan Robertson spoke during one of the commission’s work sessions last week. There, he explained to the attendees that Alabama auto…

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Farmers broadens coverage to include Uber driver insurance in many states

Nordstrom
Uber Driver Insurance - Uber on mobile phone

The insurer recently boosted its relationship with the ride share program in 14 states and D.C. Farmers Insurance recently announced its coverage expansion and will now sell Uber driver insurance. This further strengthens the relationship between the insurer and the ride hailing company. The new unique auto insurance coverage is available to 2 existing states, 12 new ones and D.C. Farmers’ Uber driver insurance is being sold in 12 more states than it already was, as well as Washington D.C. Beyond the District of Columbia, the ride hailing company’s drivers…

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