Some of the vehicles from those South Korean automakers are simply too easy to steal. Hyundai and Kia vehicles that use physical ignition keys are so easy to steal – needing nothing more specialized than a USB cable – that major US auto insurance companies have started to refuse to cover them. So far, this appears to be a trend isolated to Columbus and Denver, Ohio, but it is spreading. Progressive released a media statement in which it confirmed that it would not be issuing new auto insurance policies to…
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News articles concerning car and auto insurance nationwide for both insurance brokers and insurance customers. Learn about changes happening in your state or even global insurance matters.
Does auto insurance cover damage caused by potholes?
This time of the year is notorious for wreaking havoc on pavement, which can be damaging to vehicles. The weather across many parts of the country has reached the point when potholes are becoming a growing problem, and auto insurance companies are preparing for claims from drivers with damaged vehicles. Potholes often happen when cracks in pavement fill with water, which then freezes and expands. According to a recent report from State Farm, the first months of every year are the time in which potholes become more prominent. The temperature…
Read MoreState Farm releases winter preparedness tips for auto insurance customers
The insurer is hoping to support its policyholders in avoiding becoming stranded during holiday travel. State Farm is hoping that this holiday season will be easy on its policyholders and has issued winter preparedness tips to its auto insurance policyholders to help them to get where they want to be safely and without finding themselves stranded along the way. Poor road conditions will happen but being ready for it can make all the difference to safety. State Farm has issued a list of helpful tips and tools that all drivers…
Read MoreInsurance industry crash tests were too much for most small SUVs
The majority of these popular vehicles aren’t any less safe, but testing is focusing on additional factors. While it’s easy to think that SUVs are getting less safe, since most of them recently failed insurance industry testing, the thing is that they’re essentially as safe as they’ve always been. It’s the tests that have changed. Newer tests include components that emphasize the safety of back-seat passengers as well. The Insurance Institute for Highway Safety (IIHS) has updated their auto insurance industry testing to place a greater emphasis on making sure…
Read MoreAllstate CEO says State Farm auto insurance rates will soon increase
Tom Wilson has predicted that his company’s largest competitor will also be raising rates. President and CEO at Allstate Tom Wilson has predicted that State Farm will also be pushing to make auto insurance rate hikes in 2023, when he spoke at the Goldman Sachs 2022 US Financial Services Conference. Allstate has already started requesting rate increases and expects State Farm to do the same. Wilson pointed to the increased prices as a response to inflationary pressures and rising loss costs, and that the move will provide the home and…
Read MoreMercury shares insurance policy savings tips with its customers
The insurer released a Holiday Buyer’s Guide to help consumers get the right coverage for a better price. With the holiday season now underway, the odds are higher that a claim will be made on an insurance policy than they are at most other times of the year. That said, a claim can only be made if the right coverage is in place, moreover, not all coverage is priced equally. Therefore, Mercury has issued a Holiday Buyer’s Guide to help people to find precisely what they need and at the…
Read MoreState Farm announces its first Task Force on Climate-Related Financial Disclosures
The insurer issued a release discussing the ways in which it is addressing climate risks. State Farm has announced the creation of its first Task Force on Climate-Related Financial Disclosures (TCFD) report. The goal is to provide transparency regarding its climate risk strategies for policyholders and its own business. In the release, State Farm recognized that climate change is bringing about greater risk and uncertainty for policyholders, particularly in terms of the severity, frequency, and location of catastrophic weather events. As such, the insurer has acknowledged its primary role as…
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