Live Insurance News

Auto insurance affordability is a concern for 40% of US drivers

May 19, 2023May 17, 2023 Logan B.

A recent survey has found that the cost is a major cause of stress for many motorists. The combination of the high annual inflation rate means that the cost of living is a growing challenge for Americans, and auto insurance has become a stressful concern. A recent survey showed that 43 percent of insured drivers had experienced a rate hike since last year. The survey was conducted by PolicyGenius. It showed that 43 percent of drivers were paying more in 2023 for their auto insurance coverage than they did in…

Motorcycle Awareness Month reminds riders to ride safely

May 18, 2023May 17, 2023 Nordstrom

Motorcycle Awareness Month - Person going through test

May is an important time for riders to remind themselves of their safety habits as the warm weather begins. Motorcycle Awareness Month is more than halfway through, and it is offering riders a reminder that riding safe and smart are the best ways to enjoy their time on the road. Education and awareness are the top tools for making sure riders are keeping safe on the road. For Motorcycle Awareness Month, Delaware Governor John Carney and the state’s Division of Motor Vehicles (DMV) have teamed up with the state Office…

Motorcycle insurance costs less than what many riders expect

May 17, 2023May 16, 2023 G. Turner

Many people think it costs considerably more to insure their vehicle than is actually the case. It’s that time of year again, when riders head back onto the road and have to make sure they have all the motorcycle insurance they require wherever they intend to go. It’s always a good idea to review your policy each year to be sure you still have the right coverage. Motorcycle insurance is required by law in most states across the country. While many riders will bristle at that news, what’s important to…

Allstate 2022 auto insurance rate filings brings about changes to Georgia law

May 15, 2023May 13, 2023 Marc

The filing rules in the state will be changing under a new law driven forward by the insurer last year. Georgia Governor Brian Kemp recently signed a bill into law, providing the insurance commissioner in the state with the authority to review all auto insurance rate filings before they can become effective. The new law will become effective July 1, 2023, and preserves existing authority while making additions. Georgia House Bill 221 goes into effect July 1, 2023. It will maintain the approval powers the commissioner already held over mandatory…

Auto insurance rates calculations may be changing in Massachusetts

May 12, 2023May 11, 2023 Logan B.

Auto Insurance Rates - Calculations - Money

A new bill has been proposed in the state that will alter the way premiums are calculated for drivers. A newly proposed bill in Massachusetts has the potential to greatly change the way auto insurance rates are calculated, and the amount people will be paying for their coverage in the state. The Senate bill is aimed at changing highly influential components used to calculate premiums. Among the factors that are most defining to auto insurance rates in Massachusetts is a driver’s ZIP code. However, the bill in the Senate is…

Illinois auto insurance rate calculation overhaul in the works

May 10, 2023May 9, 2023 G. Turner

State Rep. Will Guzzardi is seeking to ban “excessive” increases and price calculation factors. Illinois state Rep. Will Guzzardi is seeking to require that auto insurance companies obtain state approval before they can implement rate hikes. He is also aiming to implement a ban for “excessive” rate increases and stop insurers from being able to use occupation, gender or credit score to calculate premiums. The largest car insurers in the state have increased rates by $527 million since the start of the year. According to analyses conducted by two consumer…

Could high auto insurance from EVs boost appeal of hydrogen cars?

April 18, 2023April 17, 2023 H. Cutner

As electric vehicles become increasingly popular, drivers are finding coverage to be costly. Battery electric vehicles have been skyrocketing in popularity as drivers look for ways to reduce their emissions, but high auto insurance premiums are proving to be an unappealing feature of those cars. Over time, the battery electric vehicles are expected to drive up losses for insurers causing rates to rise. According to a recent Moody’s Investor Service report titled “Electric vehicles to drive up costs, pricing for auto insurers as they grow more popular,” drivers can expect…