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.

This auto insurance company was rated the top option by Consumer Reports

Logan B.
Auto insurance - Top Rated Company

The most recent survey identified a spectrum of new trends including the top four insurers. Consumer Reports has conducted two recent auto insurance surveys, one of which had a more limited sample, while the second had a notably more substantial number of participants. Each of the surveys looked into the way consumers feel and interact with their insurers. The first Consumer Reports survey was limited to its own subscribers, thought that is still a respectable figure higher than 40,000 people. The participants offered almost 50,000 responses on factors associated with…

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Florida Senate attempts another bill to eliminate no-fault auto insurance system

H. Cutner
No-fault auto insurance - People after car crash

The system has been plaguing the state and is blamed for keeping rates among the highest in the US. The Florida Senate recently introduced a new bill in an attempt once again to take down the no-fault auto insurance system in the state. The required coverage means that drivers must use their own policy when accident claims are made. In addition to the mandatory no-fault auto insurance coverage, drivers must also carry a minimum of $10,000 in personal injury protection coverage. Though the system was developed to help eliminate a…

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Consumers are shopping for better auto insurance rates more than ever before

H. Cutner
Auto insurance - Shopping for car insurance

A new JD Power study showed that comparison shopping has reached an all-time high among consumers. More than ever before, consumers have been comparison shopping for better auto insurance rates, according to a new JD Power report. The report showed that over 40 percent of drivers had experienced an increase in cost after using telematics. The report also indicated that some drivers are finding that there are fewer new rates available to them than they expected. Consumers hit by rising auto insurance rates have been searching for cheaper alternatives more…

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Florida motorists now pay the most for their auto insurance

Marc
Auto insurance - Florida welcome sign

Though Michigan had been the most expensive state for coverage, Florida drivers now shell out more. Drivers in Florida have a new reason to groan over the cost of vehicle ownership in the state, as the cost of auto insurance there is now more expensive than anywhere else in the country. Everything from the price of gas to the cost of vehicle repairs is on the rise, and so is coverage. The cost of auto insurance is increasing across the United States. Florida certainly isn’t alone in that. What has…

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Wells Fargo agrees to $3M shareholder settlement over unnecessary auto insurance sales

H. Cutner
Auto insurance - Wells Fargo

The bank agreed to settle a lawsuit from shareholders claiming the bank pushed car loan customers to buy. Wells Fargo & Co. has agreed to a $300 million settlement in order to settle a lawsuit from shareholders, accusing the bank of having pushed unnecessary auto insurance on loan customers, according to recently filed US court documents. The class action suit was launched by the Construction Laborers Pension Trust for Southern California. The auto insurance suit led to a class action brought on behalf of investors. The Construction Laborers Pension Trust…

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Tesla Insurance prepares to launch in Europe

Logan B.
Tesla insurance - Tesla car charging - Map of Europe

The electric car company is continuing to grow its coverage as it starts focusing on European drivers. Tesla insurance has been continuing its work to expand into the coverage market for its electric cars, taking aim at the European market in its latest moves. The automaker started setting up a European branch in Malta in December 2020 but hadn’t started selling. Even though the European Tesla insurance branch has been in existence since that time, it hadn’t yet started to offer any products or services to European motorists. However, it…

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Auto insurance rates aren’t likely to drop with inflation

G. Turner
Car insurance - Rise in cost

Even as rates have started dropping, it is unlikely that drivers will see their premiums easing. Though drivers might be inclined to believe that as inflation starts to fall, auto insurance rates aren’t likely to get any cheaper. In fact, premiums are expected to rise, and in some areas, they’ll be increasing by quite a bit. The average cost of full coverage is $2,014 in the United States, which is 14 percent higher than last year. According to the True Cost of Auto Insurance Report by Bankrate, the average cost…

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