State Farm lets policyholders receive insurance claim payouts via PayPal

Insurance claim payouts - PayPal app on phone
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The new option is a broadening if the insurer’s Digital Pay solution enabled by Fiserv’s Carat. The largest home and vehicle insurer in the United States, State Farm, has announced that it is expanding the insurance claim payouts options available through Digital Pay so that they can be instantly received in a policyholder’s PayPal account. Digital Pay allows customers to have their claims reviewed, approved and paid online. When filing through Digital Pay, policyholders have the opportunity to choose from among several payment methods for insurance claim payouts. These transaction…

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Auto Club Insurance files for $202 million California car insurance rate increase

Car insurance - Increase in Rates

Commissioner Ricardo Lara’s office has received the request to let the company hike premiums. Auto Club Insurance has filed for an overall California car insurance rate hike of 6.9 percent. This will impact 1.44 million policyholders and the total of 2.68 million vehicles they have insured through that provider. The rate increase will mean an average annual hike in premiums of $75 per vehicle ($140 per policy). There have already been several insurers that have filed in California to be able to increase their car insurance rates for new and…

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Under half of American adults have basic health insurance literacy

Health insurance - Confusion about coverage

People across the US have widespread misconceptions about important coverage concepts. Many adults across the United States have a weak health insurance literacy, according to a new Forbes Advisor survey. Americans are struggling with issues such as basic terms and concepts regarding their coverage. The survey from Forbes Advisor showed that as much as 77 percent of Americans were confused by basic terms used in their health insurance policies, such as co-payment, co-insurance and deductible. The survey was conducted online and involved the participation of 2,000 US adults with a…

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Does your auto policy include bodily injury liability insurance?

Bodily injury liability insurance - liability insurance form

Standard auto policies contain this coverage in all but two states, but many consumers aren’t aware of it. Bodily injury liability insurance is a specific type of coverage within an auto policy that covers the medical expenses of others if the policyholder is found to be at fault in a crash. This coverage also provides coverage for additional costs such as legal fees in case of a lawsuit. The bodily injury liability insurance coverage of an auto policy is what covers the loss of income suffered by an injured person…

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Louisiana home insurance coverage at risk as Atlantic hurricane season picks up

Louisiana home insurance - Hurricane Season

The state is facing problems that have been compared to the coverage crisis in Florida. As has been the case in Florida’s market, Louisiana home insurance struggles are leaving thousands of residents of the state wondering how to find coverage. The need is becoming particularly urgent as the US predicts a busy Atlantic hurricane season. Meteorologists have been warning that the Atlantic hurricane season will be an active on this year. With theses risks ahead, a number of Louisiana home insurance companies have withdrawn from the market, just as has…

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Avoid pet insurance claims by preparing for Fourth of July Fireworks

Dog Wearing Sunglasses - Fourth of July - Pet Insurance

This weekend will be a stressful one for millions of dogs and cats, but they can be kept safe. The Fourth of July seems like an unsuspecting time for pet insurance claims to spike, as it is a time of celebration, fun foods, sparklers and fireworks displays. That said, for dogs, cats and other animals, the fireworks are terrifying and can lead to altered behaviors. Many animals suffer from noise phobia. This can cause dogs and cats to find themselves in fight-or-flight mode. It can make them shake from fear…

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Lightning insurance claims were highest in these 5 states last year

Lightning insurance

About 9,000 customers filed for this type of damage with State Farm last year, for a total of $107 million. Last year, State Farm paid almost 9,000 lightning insurance claims to homeowners’ policyholders, who received a total of about $107 million to repair the damages caused. Some states have seen substantially more claims of this nature than others across the country. According to State Farm, the states that experienced the most lightning insurance claims were:  Texas, with $7.7 million in total claims. Georgia, with $7.3 million in total claims. California,…

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