Credit has a big impact on auto insurance premiums

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Report highlights the effect that credit data has on insurance prices Credit score has a lot to do with auto insurance rates, according to a recent report from WalletHub, a personal finance organization. The report focused on how a driver’s credit score affects their insurance rates in the United States. All states but California, Hawaii, and Massachusetts were examined for the report. In these states, using a driver’s credit history to price auto insurance coverage is illegal, so such information does not contribute to higher premiums. Those with no credit…

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New York home to third highest auto insurance premiums in the country

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Study shows that auto insurance premiums in New York are higher than the national average New York is a notoriously expensive state, with a high cost of living and an abundance of luxuries that few other states can rival. For drivers, the costs associated with living in New York are all too clear. According to a study from InsuranceQuotes.com, the state is home to the third highest auto insurance rates in the United States. Though New York falls behind both Michigan and Rhode Island in terms of insurance premiums, this…

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Health insurance exchanges may be at risk in some states

Michigan Health Insurance - State Plan

Supreme Court ruling could have a major impact on health insurance coverage Lawmakers in several states are working on ways to ensure that people will keep their health insurance pending a ruling from the U.S. Supreme Court. The court is expected to deliver a ruling on whether or not the federal government can provide subsidies for coverage offered through federal insurance exchanges. The ruling is likely to be delivered in the summer, and it could have a major impact on the availability of insurance coverage for millions of people. Michigan…

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Hospitals respond to changes in Michigan’s auto insurance law

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No-fault auto insurance law could have a major impact on hospitals Michigan lawmakers are considering making changes to the state’s no-fault auto insurance law in order to address the issues concerning expensive insurance coverage and the cost of medical care. Changes to the state’s law could have a major impact on its hospitals as well. The Michigan Health & Hospital Association has released estimates that suggest that proposed changes to the state’s auto insurance law will cost hospitals approximately $1.2 billion annually for treating those that have been in car…

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Detroit Mayor unveils plan for auto insurance

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Mayor Mike Duggan outlines his plan to address insurance coverage in the city Detroit Mayor Mike Duggan has unveiled some details about his plan to lower auto insurance rates in the city. This may be part of an overarching endeavor in Michigan to address the issues regarding the state’s no-fault insurance system and how it is contributing to higher premiums for drivers. Detroit is working to establish an insurance pool for drivers, offering them with affordable coverage that is expected to reduce the financial stress associated with auto insurance. New…

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Michigan has the highest auto insurance rates in the country

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Auto insurance premiums are higher in Michigan than in any other state Michigan is home to the highest auto insurance rates in the United States, according to a new report from InsuranceQuotes.com. Insurance costs for drivers throughout the state are quite high and have been on the rise for some time. There may be a clear reason for this, as Michigan is the only state in the country that offers unlimited lifetime personal injury protection. The state is also home to one of the largest numbers of uninsured drivers in…

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Auto insurance rates could be dropping in Michigan

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Auto insurance coverage is expected to become less expensive in Michigan due to new measure Changes being made to Michigan’s auto insurance laws could mean lower premiums for consumers and lower costs for insurers. The state’s House Insurance Committee has approved a measure that would make changes to existing insurance legislation, which could bring down premiums by $100 every year for the next two years. The measure would also prevent health care providers from overcharging insurers when they treat victims of auto accidents. Health insurers will also not be able…

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