Does usage-based car insurance require more oversight in the US?

Usage-based car insurance - man studying report

A report by the Consumer Federation of America calls for state regulators to keep closer tabs. The Consumer Federation of America has published a report strongly urging regulators across the United States to apply greater oversight to usage-based car insurance. These programs use telematics to measure policyholder driving habits and apply discounts for safe behaviors. The consumer advocacy group has been pushing state regulators to take this step with usage-based car insurance programs while adopting a number of other consumer protections. It sought to have those regulators apply greater scrutiny…

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Protective insurance acquisition by Progressive closes

Protective Insurance - Money

The completion of the purchase has been announced for approximately $338 million. Progressive has announced that its $338 million acquisition of Protective Insurance Corporation is now complete. Protective is a workers’ compensation and trucking fleet insurer now owned by Progressive. The Protective Insurance acquisition was first announced in February. It involved a $23.30 per share cash buyout of Protective’s shareholders, without interest, for Class A and Class B common shares. That share price brought a 49.1 percent premium to Class A shareholders and a 63.2 percent premium to Class B…

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Allstate announces its agreement for SafeAuto acquisition

SafeAuto acquisition - business deal - contract

The insurer’s subsidiary National General will be acquiring the low-cost auto insurance carrier. Allstate has announced that it has come to an agreement for a SafeAuto acquisition through its subsidiary, National General. This purchase will help Allstate to expand a spectrum of its capabilities and distribution. Through the SafeAuto acquisition, Allstate will add the auto insurer’s capabilities and distribution to its own offering, including its 24/7 customer contact centers at SafeAuto’s 1-800 number, as well as through its website. By bringing the low-cost auto insurer into National General, it will…

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Allstate’s attempt to overturn jury verdict for underinsured driver benefits denied

Allstate Insurance News

The Supreme Court of Texas has turned down the insurer’s attempt to overturn the verdict. Allstate Insurance’s efforts to overturn a jury verdict having to do with underinsured driver benefits have been denied by the Supreme Court of Texas. The high court upheld the jury verdict in a 5-4 decision regarding a 2016 claim. The Supreme Court decision upheld the $95,000 jury verdict from the Bexar County court in favor of Daniel Wes Irwin. That verdict required Allstate to pay Irwin the full sum of $50,000 underinsured driver benefits from…

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USAA auto insurance app expansion brings SafePilot telematics to 7 more states

Auto Insurance App - people using phone

The program will become available to drivers in a total of 23 states across the country. USAA has announced that it is expanding the availability of SafePilot in its auto insurance app. As a result, drivers in an additional seven states will be able to access the telematics feature. This option will make it possible for drivers with safe habits to enjoy discounts on their premiums. USAA, the insurer focused on military members and their families, will make the SafePilot auto insurance app available to a total of 23 states…

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This state now has the most expensive car insurance (no, it’s not Michigan)

Most expensive car insurance - United States Map

A new report has revealed that Michigan has broken its 7-year streak at the top of the high-priced list. Michigan has long been the state in which the drivers have had to face the most expensive car insurance premiums. However, according to the results of a new data analysis published in a report by insure.com, that state has now slipped into second place and a new one has taken the costly lead. As Michigan has stepped down into second place, Louisiana drivers now find themselves paying the most. Louisiana drivers…

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Buying A New Car: 6 Things You Must Checkout

Buying A New Car: 6 Things You Must Checkout

Buying a new car can be a daunting task. There are various things to take into consideration when shopping for a new car, like fuel economy, safety features, financing options, and more. It is not a decision to be made in haste, and exploring all your options is a time-consuming process.  Buying a car doesn’t have to be stressful, though. Here are four tips to put the pedal to the metal and make your next car-buying experience fast and stress-free: Determine Your Needs You know you need a car, but…

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