Tag: insurance premiums

Life insurance premiums may soon be selfie-based

Julie Campbell
selfie life insurance premiums

Facial recognition technology could be used to better understand a person’s overall wellness. Selfies have become exceptionally commonplace, but these self-portraits may soon have an impact on life insurance premiums. In fact, as facial recognition and analysis technology continues to improve, it may one day determine whether or not someone even qualifies for a policy. The reason is that selfies provide a great deal of information about a person’s health and aging. The various details picked up by a selfie, such as drooping skin, fine lines and wrinkles, contours and…

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Are car insurance rates higher in urban minority neighborhoods

Logan B.
Car Insurance rates

A recent study suggests that they are, but the research report has been accused of producing flawed findings. A new car insurance rates study has been published by ProPublica and Consumer Reports. It suggests urban neighborhoods populated primarily by minorities pay higher auto insurance premiums than comparable communities of lower minority populations. However, an insurance industry group has accused the report’s findings of being flawed and misleading. The study used car insurance rates data from California, Texas, Missouri and Illinois. The data was broken down by ZIP code and claims…

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Trump’s flood insurance surcharge meets solid resistance from Jersey Shore

Marc
Hurricane Sandy Damage flood Insurance surcharge

Three federal lawmakers from that area say they will fight the proposal they’re calling unreasonable. Jersey Shore congressmen aren’t pleased about the proposed flood insurance surcharge the Trump administration has put forward. As a result they’ve said they intend to fight the proposal in order to stop what they feel is an unreasonable cost increase. The lawmakers said the surcharge for the insurance coverage will only cause more suffering. U.S. Congressmen Tom MacArthur (R-03), Frank A. LoBiondo (R-02) and Frank Pallone, Jr. (D-06) have agreed that the flood insurance surcharge…

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Insurance industry slams Paul Ryan for lack of comprehension

H. Cutner
Paul Ryan insurance industry

The internet and social media lit up when the Speaker of the House of Representatives made a strange declaration about health insurance. The insurance industry was shocked by a recent statement from Speaker of the House of Representatives, Paul Ryan. He recently expressed his displeasure with the fact that premiums from healthy individuals are being used to subsidize the premiums of sick people. Social media, particularly Twitter, immediately blew up to inform Ryan that this is how insurance works. The insurance industry – including professionals and consumers alike – took…

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State Farm insurance rates will soon be slashed, judge’s orders

Nordstrom
State Farm Insurance rates Logo And Exterior

California Insurance Commissioner Dave Jones supports the judge’s decision to reduce premiums. State Farm insurance rates in California may soon be on their way down following a judge’s ruling. That said, homeowners, condo and renters insurance policyholders will need to wait to know if they will also get refunds. That will depend on the outcome of a lawsuit. The judge ruled that State Farm is required to comply with a state order for reducing its rates. That same judge said that while State Farm insurance rates must be reduced, the…

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Auto insurance discounts from new safety features are few and far between

Marc
auto insurance discounts new york traffic taxi

Automakers are continually adding safety features to their models but this isn’t making coverage cheaper. Every year, vehicles have a new list of safety features, but they don’t appear to be reflected in auto insurance discounts. A handful of years ago, the devices commonplace in the latest models didn’t even exist. In theory, these are making cars safer. Yet insurance companies are not reflecting that safety boost in the premiums charged for coverage. Many consumers are now asking why they’re not paying less when they own far safer vehicles. The…

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Auto insurance premiums in the U.S. may slide with driverless cars

Logan B.
Louisiana car insurance rates auto

As autonomous vehicles roll out – and as that continues into the future – coverage rates will plummet. A new report from Aon Benfield addressed auto insurance premiums in a world of self driving cars. It examined the insurance rate trends that will occur with the expected increasing popularity of autonomous vehicles. The report suggested car owners will be paying a lot less for coverage when cars drive themselves. The predictions are that the “industry pure premiums” will fall a full 20 percent from last year through 2035. This forecast…

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