Live Insurance News

Lying on car insurance applications is common in the hopes of saving money

May 19, 2022May 15, 2022 Nordstrom

Research shows that Americans regularly lie on the details they submit to their insurers. Americans will often lie on their car insurance applications in the hopes of saving money, according to a Finder.com study. The data from the study showed that 35.8 million Americans fudge their details to get lower rates. The study determined that the 35.8 million people across the country lie on their applications to try to lower the car insurance premiums they must pay. Moreover, the number is considerably higher than what it was in 2020, when…

Homeowners insurance companies impacted by late home buying trend from Millennials

May 18, 2022May 15, 2022 G. Turner

The change in trends between generations is leading to challenges for coverage providers. The results of new research have found that Millennials and the youngest of the Gen X generation have experienced substantial delays in buying homes, and this trend is affecting homeowners insurance companies. This trend has been made only worse by the trends in out-of-state migration from those same generations. Those trends toward migrations out of state are driven in part by the COVID-19 pandemic. That behavior is posing a risk to homeowners insurance companies. These, among other…

Auto insurance company points to vehicle mileage for fraud detection

May 17, 2022May 13, 2022 H. Cutner

State Farm underscored the importance of spotting odometer fraud when purchasing a used car. Although the majority of vehicle fraud headlines point to the theft of catalytic converters, but the State Farm auto insurance company showed that odometer fraud is also an important issue to keep in mind. Though this type of fraud is tougher to spot, there are a number of strategies that can be used to find it. State Farm published a news release to help people to spot odometer tampering while considering a used vehicle for purchase.…

Florida has second most expensive auto insurance in the country

May 16, 2022May 13, 2022 Marc

Drivers in the state spend a larger portion of their income on coverage than most other Americans. Florida auto insurance customers are paying more for their car coverage than nearly any other drivers in the United States. To keep their coverage, Floridian motorists must send more of their paychecks to pay their premiums. This, according to the data published in a new Bankrate.com report, suggests that Sunshine State residents are paying more of their income for their auto insurance than other drivers across the country. In fact, an average of…

California Assemblymember Levine’s wildfire budget aims to reduce insurance premiums

May 13, 2022May 12, 2022 Logan B.

Insurance premiums - Reduce costs - wildfires

Levine has called for $10 billion to boost defensible space and reduce the cost of coverage. California Assemblymember Marc Levine (D-Marin County) has announced a $10 billion budget request as Governor Newsome readies for the May budget revision. The revision is expected to show surplus funds that could potentially be greater than $68 billion. Levine wants half of the $10 billion wildfire risk budget to be aimed at home hardening strategy implementation in areas of high wildfire risk. He is also seeking to ensure that insurance premiums can be reduced,…

How to Improve Your Travel Planning

May 12, 2022 Guest Author

Are you ready to start a fantastic road trip? Travel planning can be complex, and making sure that you’re set up for safe and healthy travel while on the road can be overwhelming. If you follow the tips shared today, however, you might find travel to be more accessible than ever before. Are you ready to go on the best road trip ever? Let’s get started on improving your travel planning with these great ideas. #1: Budget Better With Discounts Road trips are always more exciting when you aren’t stressed…

5 Reasons Why You Should Consider a Used Car as Your First Car

May 12, 2022 Guest Author

Congratulations! You are just about to buy your first car. Whereas purchasing a new car is a great move, there are many things to consider. One crucial decision you must make is whether to buy a brand new or pre-owned car. Both types of vehicles have their pros and cons. But which one would be better as a first car? Read on and learn why you should consider a used car as your first set of wheels. But first, some statistics about novice drivers. Novice Drivers Have the Highest Crash…