Car insurance rose by at least 25 percent last year in three US states

Car insurance - Rise in cost 25 percent

American drivers are braced for more increases in the premiums they’re paying on their auto policy. Across the US, there were three states that experience car insurance price increases by 25 percent last year, and experts are cautioning American motorists that the premiums are expected to continue rising. As much as auto premiums rose last year, 2023 is likely to see policies getting more expensive. Interest rate increases, inflation, the volatility of gas prices, and a spectrum of other causes have sent car insurance rates skyward in the last year.…

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State Farm issues tips for Teen Driver Awareness Month

Teen Driver Awareness Month - Teen in car with car keys

This January, the insurer is reminding parents that setting a good example can make a difference. State Farm is honoring January as Teen Driver Awareness Month by reminding parents that setting a good example can make a difference to their teen’s driving habits and yes, they will get through this. Parental driving habits are the top influence on the behaviors of new young drivers. Teen Driver Awareness Month data from the National Highway Traffic Safety Administration shows that the driving habits of a young driver’s parents are the top influence…

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State Farm and Progressive refuse auto insurance coverage for Hyundai and Kia vehicles

auto insurance - Hyundai vehicle

Some of the vehicles from those South Korean automakers are simply too easy to steal. Hyundai and Kia vehicles that use physical ignition keys are so easy to steal – needing nothing more specialized than a USB cable – that major US auto insurance companies have started to refuse to cover them. So far, this appears to be a trend isolated to Columbus and Denver, Ohio, but it is spreading. Progressive released a media statement in which it confirmed that it would not be issuing new auto insurance policies to…

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Life insurance experience differs among states due to health records

Life Insurance - Heart

Health trends in states across the country help to determine a consumer’s experience with coverage. The majority of people can’t say that they have absolutely flawless health and healthy lifestyles, and this impacts their overall experience shopping for life insurance policies. Across the United States, 4 out of every 10 adults have a minimum of two chronic illnesses. That said, some states across the countries have better wellness statistics than others, mainly due to two primary issues, the prevalence of unhealthy lifestyles and of substance abuse. This can have an…

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Louisiana faces home insurance “crisis” as more companies leave

Home insurance - Crisis - Rocks

Over 20 insurers have exited the state or have gone bankrupt within the last two years. Thousands of Louisiana residents are struggling to find affordable home insurance coverage as insurers continue to leave the state following years of catastrophic storms. The storms have been increasing in both frequency and intensity, leaving expensive damage behind. Louisiana has been the center of the destruction and devastation left behind by several major storms in recent years. As a result, the cost of doing business in the state has been skyrocketing for home insurance…

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Worldwide aerospace insurance renewals season could bring change

Aerospace insurance

The industry is facing an opportunity to look again at pricing, policy conditions and retention levels. This year’s aerospace insurance and reinsurance renewal season is arriving and is providing the opportunity to make changes for more favorable retention and pricing levels as well as policy conditions, said reinsurance broker Gallagher analysts. The global market is facing several a number of changes and renewal season is an opportunity to adapt. The aerospace insurance and reinsurance renewal season can open the door to adapt is a way that will allow insurers and…

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Allstate insurance company pledges net zero carbon by 2030

Insurance company - Net Zero Emissions by 2030

The insurer also committed to an investment portfolio that is greenhouse gas emission-free. The Allstate Corporation, one of the largest insurance companies in the United States, has announced its new commitment to achieve a string of zero emission targets. The insurer plans zero greenhouse gas emissions from direct, indirect and value-chain sources by 2030. As a closer target, the insurance company has also committed to set a target year for having a net zero portfolio by 2025. The goal is to contribute to the overall effort being made to manage…

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