Live Insurance News

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

August 3, 2022August 2, 2022 G. Turner

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…

“Regular use” auto insurance exclusion to face Pennsylvania Supreme Court

July 28, 2022July 27, 2022 Nordstrom

Auto insurance exclusion - Person driving vehicle

The court agreed to consider a case that would add limitations to its use in car policies. Pennsylvania’s Supreme Court has agreed to the consideration of a case that would restrict the use of the “regular use” auto insurance exclusion. The reason is that the policy rule may be in violation of the motor vehicle financial responsibility law. This consideration of the case would be a review of a ruling made by a Superior Court, in which it determined that the regular use auto insurance exclusion is in violation of…

Consumer Watchdog says California Commissioner should stop Mercury’s insurance rate discrimination

July 22, 2022July 21, 2022 Logan B.

The group sent a signature-filled petition to Commissioner Lara regarding job-related premiums calculations. Consumer Watchdog has issued a letter containing a petition to California Insurance Commissioner Ricardo Lara, calling for him to reject insurer Mercury’s insurance rate discrimination practices. The group wants the commissioner to stop the proposed rate hike based on job- and education-related calculations. Mercury has proposed a $131 million hike to its total auto premiums, and Consumer Watchdog has called for Commissioner Lara to reject it as well as the insurance rate discrimination it says the insurer…

Auto insurance data spat could lead to regulatory battle in Illinois

July 19, 2022July 18, 2022 H. Cutner

Auto insurance data - Regulation Battle - Illinois

A fight over information regarding insurer profits during the pandemic may increase state regulation. Newly disclosed auto insurance data from throughout the pandemic has shown that insurers made excessive profits throughout that span of time, according to the Illinois Public Interest Research Group (PIRG) consumer advocacy group. The watchdog says it is proof that the state is in need of stricter regulation of the industry. Insurers have been fighting against the release of the auto insurance data relating to the premiums charged throughout the pandemic. That information was requested by…

Mercury launches MercuryGo usage-based insurance app in Virginia

July 14, 2022July 13, 2022 Nordstrom

The insurer says that safe drivers in the state could save as much as 40 percent off their premiums. Mercury recently announced that it has rolled out its usage-based insurance app called MercuryGo throughout the Virginia market. The mobile app comes with a virtual driving coach to help drivers to save even more. The MercuryGo usage-based insurance app is available to drivers across Virginia. They can use it to learn how to improve their driving skills and how to navigate traffic safely. As they better their driving habits, it is…

Does your auto policy include bodily injury liability insurance?

July 13, 2022July 12, 2022 G. Turner

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…

Rising auto insurance rates causes customer satisfaction to fall

July 12, 2022July 11, 2022 H. Cutner

Auto insurance rates - Insurance Company

A new JD Power study showed that drivers are unhappy with their insurers over climbing premiums. A new JD Power study has shown that motorists’ satisfaction with their insurers is falling as they watch their auto insurance rates rise. JD Power published the results of their 2022 Insurance Shopping Study showing discontent among drivers. The study showed that auto insurance rate hikes have been driven by a 41 percent rise in the price of used cars. This has pushed vehicle repair and replacement costs skyward and has sent insurers to…