What To Do After A Car Accident

what to do car accident

There are approximately six million car accidents in the US every single year, leading to thousands of deaths and countless injuries, both physical and mental. Lives can be ended and altered in the blink of an eye, and even if you’re a safe and sensible driver, the risks of auto accidents are still very real, every time you take to the road. This is why auto insurance matters so much, and also why it’s absolutely essential for every driver to know exactly what to do and how to respond if…

Read More

Could Tesla car insurance become the largest auto insurer in the US?

Tesla car insurance - Tesla vehicle on road

According to a recent valuation by CEO Elon Musk, the company is headed in that direction. If a recent valuation of the Tesla car insurance offshoot of the electric vehicle company is to be believed, it could eventually become one of the largest auto insurers in the United States. Musk dropped several hints of this nature during a recent quarterly earnings call. Musk discussed the Tesla car insurance unit in terms of comprising a substantial portion of the company’s auto business. “Obviously, insurance is substantial. So, insurance could very well…

Read More

Pandemic-reduced Progressive auto insurance rates are getting hiked

Progressive auto insurance rates - money

As more drivers head back out onto the road again, the insurer is increasing the cost of coverage again. When the pandemic hit, sending drivers across Illinois home and leaving their cars in their driveways, Progressive auto insurance rates were lowered by about 10 percent. That said, drivers are heading back out again, and their premiums are also starting to rise. The insurer is increasing its rates by 4.2 percent for the majority of its customers in Illinois. The new Progressive auto insurance rates were filed with the Illinois Department…

Read More

The pandemic hasn’t stopped auto insurance claims satisfaction from rising

Auto insurance claims satisfaction - Woman smiling in car

Consumers continue to be increasingly pleased with the quality of their experience, says JD Power. The pandemic hasn’t stopped steady improvements in auto insurance claims satisfaction from continuing this year. In fact, the reduced number of filings may have contributed to this trend. Fewer claims have given insurers the opportunity to fine tune their customer service. As a result, insurers are able to provide higher quality claims service, leading to improved auto insurance claims satisfaction among customers. The J.D. Power 2020 U.S. Auto Claims Satisfaction Study recorded a 22 percent…

Read More

Insurers brace for a spike in Halloween insurance claims

Halloween insurance claims - Jack-O-Lantern

This holiday has become one of the traditions leading to a spectrum of filings on many policy types. Halloween insurance claims have been climbing with each passing year. Despite the impact of the pandemic, it is still expected to cause filings to rise. Insurers are getting ready to receive the calls for vandalism, theft, and crashes. On this holiday in 2016 through 2019, Statista data showed that 70 percent of Americans intended to take part in celebrations on this day. The COVID-19 pandemic is holding back the celebrations, but 58…

Read More

Allstate and Liberty Mutual provide Lyft driver insurance in several states

The insurers are offering coverage to the rideshare company’s drivers in states including California. Lyft driver insurance is now available in a handful of different states through Allstate and Liberty mutual, including in California and Texas. Effective as of the start of this month, Allstate has started selling this commercial auto coverage. October 1 brought Allstate’s Lyft driver insurance to California Iowa, Indiana, Kansas, Kentucky, Missouri, Ohio and West Virginia. The policies are issued by an Allstate subsidiary called North Light Specialty Insurance Co and are managed by Allstate Business Insurance. This commercial auto coverage is provided specifically throughout the Lyft trip’s entire cycle. It begins when a driver turns on the app, continues through until they pick up their customer, and runs until the completion of the trip. Allstate automatically protects riders at no additional cost when they are in a Lyft driver’s vehicle. The extent of the coverage varies from one state to the next and from one period of engagement to the next. This may extend to property damage and bodily injury liability, uninsured/underinsured motorist liability, collision, and comprehensive coverage. It is subject to deductibles, policy terms and conditions. Until now, Lyft driver insurance has essentially meant a reliance on a personal auto policy. That coverage is still applicable when the driver is offline or has not turned on the app. Some Allstate customers who drive for transportation network companies (TNC) also add additional ridesharing coverage, for instance the Ride for Hire coverage through Allstate. That protects them above and beyond what their personal auto policy would provide and what TNC commercial coverage protects. Drivers in Arizona, Michigan, New Mexico, Texas and Utah can now purchase their rideshare coverage through Liberty Mutual Insurance. That insurer’s program provides coverage specific to the needs of Lyft drivers within those states from the moment the app turns on to the moment it turns off. Lyft vice president of risk, Curtis Scott, explained that the new Allstate and Liberty Mutual Lyft driver insurance policies are a reflection of the rideshare company’s efforts to widen their coverage partnerships and form an auto carrier panel that will make it possible for the company to make sure there is claims handling specifically for this unique type of operation.

The insurers are offering coverage to the rideshare company’s drivers in states including California. Lyft driver insurance is now available in a handful of different states through Allstate and Liberty mutual, including in California and Texas. Effective as of the start of this month, Allstate has started selling this commercial auto coverage. October 1 brought Allstate’s Lyft driver insurance to California Iowa, Indiana, Kansas, Kentucky, Missouri, Ohio and West Virginia. The policies are issued by an Allstate subsidiary called North Light Specialty Insurance Co and are managed by Allstate Business…

Read More

Insurance Tips for Entrepreneurs

Insurance tips for entreprenuers

When you are starting a new business, insurance is often one of the last things that you stop to think about. You know that you need it, but it’s rarely a priority, especially if money is already tight. However, starting and running a new business is always a risk, and the right insurance can help you reduce many of those potential threats. Much of business management is about limiting exposure to risks, and that’s why your insurance needs to be in place at the right time and with the right…

Read More