Live Insurance News

Auto insurance system changes in Michigan arise in Legislature

April 26, 2013May 1, 2013 Marc

The overhaul is meant to be a massive one that will help to combat systemic issues. The official introduction of the proposed changes to the no fault auto insurance system in Michigan was finally made to the legislature this week, to help to repair a number of issues that are keeping costs extremely high for consumers. The state has the second most expensive premiums for driver coverage in the entire country. Rep. Pete Lund (R-Shelby Township), made the introduction of the bill (HB 4612), in order to place a cap…

Insurance News Video Broadcast

April 4, 2013 S.Vagus

This Week’s Round Up – Insurance News Broadcast for April 4th, 2013 See Notes and Highlights of The Stories Featured in Video: Study claims health insurance rate shock may be coming Health insurance companies throughout the U.S. have been warning of the impending rate shock that could be spurred by the Affordable Care Act. According to the study, health insurance companies are expected to pay out an average of 32% more on payouts for medical claims for individual consumers. Federal officials are questioning the accuracy of the study suggesting that…

Auto insurance set to rise in Michigan

April 4, 2013April 3, 2013 Logan B.

Auto insurance fee set for 6% increase on July 1 The Michigan Catastrophic Claims Association, a non-profit, state-backed organization that helps support the auto industry, has announced that drivers can expect to pay more for their auto insurance coverage beginning this year. According to the organization, the annual fee that is associated with auto insurance policies will rise by 6% on July 1 of this year. This fee is levied on policies to help cover the costs of personal injury and the state’ no-fault auto insurance rules. Fee designed to…

Auto insurance rates are on the rise for Michigan drivers

April 1, 2013April 30, 2013

The no fault coverage for the motorists across the state is about to become more expensive. The latest reports from Michigan have shown that the cost of auto insurance per vehicle will be increasing by 6 percent, to an average of $186 percent for coverage of injuries resulting from crashes. The increases are expected to be put into place by July 1, said an industry board. The announcement of the new higher fee was made by the Michigan Catastrophic Claims Association (MCCA). At the moment, the cost of the coverage…

Louisiana home to most expensive auto insurance coverage in the US

March 23, 2013March 21, 2013 G. Turner

Survey shows Louisiana leads in terms of auto insurance costs Insure.com, an online insurance marketplace, has released its latest annual survey concerning the average cost of auto insurance throughout the U.S. The survey highlights the cost of auto insurance rates in all states, showing how much consumers can expect to pay to cover their vehicles. This year, the survey shows that Louisiana is at the top of the list of states where auto insurance coverage is most expensive. Maine is the state with the lowest average auto insurance coverage rates.…