Tag: Auto Insurance

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

Nordstrom
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…

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

Julie Campbell
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…

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Could Green Vehicles Reduce Your Insurance Bill?

Guest Author
Green Insurance

The obvious incentive to encourage green car adoption in recent years has obviously been potential fuel savings. This has become an increasingly attractive feature to motorists at a time when fuel prices are continuing to rocket. However, it now appears that green cars could also bring an insurance saving as well, with price comparison website MoneySupermarket claiming that many insurers will offer a discount of up to 5% off the total price of annual premiums to anyone who is looking for cover on a vehicle deemed to be environmentally friendly.…

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Department of Transportation looks to ban use of cell phones while driving

Nordstrom
Distracted Driving Statistics

Secretary LaHood campaigns for national ban on mobile device use while driving The U.S. Department of Transportation has called for a nationwide ban on the use of mobile devices whilst driving. Distracted driving has been cited as a major contributor to auto accidents throughout the country. These accidents have long been a thorn in the side of the auto insurance industry, but insurers have been divided on whether mobile devices played a significant role in distracted driving. A national ban on the use of mobile technology while driving could have…

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DriveFactor offers new usage based auto insurance program for drivers

Usage based insurance

DriveFactor has announced its latest product that uses usage based insurance (UBI) technology to allow good drivers to prove their safe driving habits and receive discounts on their premiums. The program uses a UBI device to track the save driving behaviors of specific drivers so that they can save money on their coverage. It measures the way in which a car moves so that the insurer can more accurately determine the risk associated with the driver and calculate a more precise rate for protection. DriveFactor was established in 2010 under…

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