Category: Auto Insurance

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.

Mercury shares insurance policy savings tips with its customers

H. Cutner
Insurance Policy - Helpful Tips
Americans are paying more for auto ...
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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…

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State Farm announces its first Task Force on Climate-Related Financial Disclosures

Marc
State Farm - New report

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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Allstate Insurance partners with Jordan Andino for road safe mocktails

Logan B.
Allstate Insurance mocktails - person pouring a drink

To promote safe driving throughout the holidays, the insurer is working with the chef and TV personality. Allstate insurance has joined forces with TV personality, chef and restauranteur Jordan Andino to develop Allstate Good Sips. This is a list of signature mocktail recipes meant to make sure drivers stay sober throughout the holiday season when they plan to get behind the wheel. Mocktails are becoming quite trendy, having taken off like never before in 2021. Last year, nonalcoholic beverage demand rose by 33 percent in 2021, reaching $331 million, said…

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Auto insurance premiums to climb by double digits again in 2023

Marc
Auto insurance premiums - Cost of car insurance going up 2023

The cost of insuring a vehicle in the United States is rapidly rising due to several factors. If there’s anything Americans are getting used to seeing at the moment, it’s increases in their auto insurance premiums. Looking back at the trends from 2022 and looking forward to what is expected in 2023 has meant considerably higher costs associated with insuring a new or used vehicle. This year has seen the largest rate increases recorded in the United States since 2019. As was recently reported by Live Insurance News, there have…

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Auto insurance rates have risen 17 percent since 2020

G. Turner
Auto insurance Rates - 17 Percent

American drivers are paying considerably more now for their coverage than a couple of years ago. Drivers across the United States are paying around 17 percent more for their auto insurance than they were paying in 2020, according to the results of a new Insurify study. This year, the average annual premiums for passenger vehicles across the country is $1,750. Michigan was identified as the state where drivers are paying the most for their auto insurance, at an average annual $2,510. The difference between that and what drivers are paying…

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Geico faces California car insurance class action lawsuit

Logan B.
California car insurance - class action lawsuit

The insurer has been accused of overcharging its policyholders early in the COVID-19 pandemic. A federal judge recently decided that a California car insurance lawsuit accusing Geico of having overcharged over 2 million drivers in the state on their premiums early in the pandemic can proceed as a class action. The judge rejected the insurer’s arguments that the lawsuit would lead to “insurmountable manageability problems”. US District Judge Beth Labson Freeman of San Jose rejected Geico’s assertions that a group California car insurance lawsuit regarding the unsatisfactory nature of the…

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California agents seek an end to the auto insurance rate moratorium

G. Turner
Auto insurance - Woman and Man with arms crossed

A group representing the agents says it is having a negative impact in the state. A California auto insurance group has become quite vocal about their opinion against Commissioner Lara’s recent rate moratorium. According to the agents, the commissioner’s moratorium is negatively impacting state consumers. The American Agents Alliance has stated that they are opposed to Lara’s auto insurance rate moratorium in California. The alliance is based in Sacramento, California, and is an association of professionals in the insurance industry. “Commissioner Lara’s Rate Moratorium and his refusal to process automobile…

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