Auto insurance rates may be higher for safe drivers

Auto Insurance rates for safe drivers

Safe drivers may be facing significantly higher auto insurance rates There are many factors that go into determine auto insurance rates. Driving history, place of residence, credit score, and age can all be used to determine the price of a policy for a particular individual. Those with good driving records, typically known as safe drivers, are often considered to be charged the absolute lowest auto insurance rates possible. This is not the case, according to the Consumer Federation of America. The consumer advocacy group has released a new study that…

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Insurance news from U.S. policyholders reveals they’re spending more

Insurance news cost

37 percent of American survey respondents say they spent more over the last 12 months. The results of a survey of policyholders in the United States are making insurance news as they have revealed that Americans believe they have spent more for their coverage over the last year. The majority feel that the reason for this increase in spending is due to higher premiums. Among the participants in this Princeton Survey Research Associates International insurance news making study, 37 percent claimed that they had spent a larger amount last year…

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Industry report shows many increases in the costs of vehicle ownership

cost of gas increase

American consumers have experienced an average 1.9 percent increase in vehicle ownership costs such as auto insurance and fuel. A recent study has shown that drivers in the United States have undergone an average increase of 1.9 percent in the costs associated with their vehicle ownership, ranging from auto insurance to tires, and from fueling up to vehicle depreciation. This information was outlined in the AAA 2012 ‘Your Driving Costs’ study report, which indicated that in the United States, gas and tires alone have increased the annual cost of owning…

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Health insurance price increases may slow next year, shrinking profits for smaller insurers

An analyst at Wedbush has released estimates that have shown that in 2012, there may be a slowing in the rising cost of health insurance, but that this may cause smaller insurers that concentrate on commercial coverage to achieve smaller profit margins. The Wedbush analyst, Sarah James, released a research note that showed that employer and insurer surveys have been indicating that price increases will be slower next year than they were in 2011, as a result of some of the health care reform elements having been implemented. Though this…

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Organizers of American running of the bulls are heavy on thrill seekers but light on liability insurance

An American version of the running of the bulls, which was modeled after the famous Pamplona, Spain tradition, is expected to draw hundreds of participants, while also bringing about millions of dollars in insurance protection. Though each of the runners taking part in the quarter-mile run from dozens of rodeo bulls weighing approximately 1,500 pounds each, will be required to sign a solid and exceptionally comprehensive liability waiver, there have been several additional insurance policies taken out to protect the organizers from any form of liability that they can imagine.…

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Agents in Massachusetts push for insurers to discontinue their use of credit score

Independent insurance agents in Massachusetts are looking to bar credit scores from playing a part in the pricing of auto insurance. The Massachusetts Association of Insurance Agents (MAIA) is leading the charge, hoping to gain enough support from the public and insurance companies to ensure that factors like occupation, education and credit score do not contribute to the overall cost of insurance. Unfortunately, a number of prestigious insurance companies have rallied against the proposal. MAIA holds that auto insurance prices should be dependent upon an individual’s driving record, not their…

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