Tag: auto insurance companies

New York auto insurance rate calculation factors may soon drastically change

Nordstrom
New York auto insurance rate calculations

A new proposed rule would stop education and employment from affecting a policyholder’s premiums. State Financial Services Superintendent Maria Vullo proposed a change to the New York auto insurance rate calculations. The change would stop insurance companies from using a motorist’s education level or job from being used as a factor in determining that driver’s rates. The only exception is if the insurance company can prove the job status or education level directly affects driving. The proposed New York auto insurance rules change would only allow insurers to continue using…

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Auto insurance companies aren’t keeping customers happy

Nordstrom
auto insurance rates companies customer satisfaction

A new J.D. Power survey revealed a drop in overall customer satisfaction within this market. J.D. Power has now released its report on customer satisfaction through auto insurance companies. What the J.D. Power 2016 U.S. Auto Insurance Study revealed was that customers aren’t as happy with insurers. The overall satisfaction customers feel is on the decline. This study measures customer satisfaction through the use of a 1,000 point scale broken down into 5 factors. These five factors – in order of importance – are: Interaction, Policy Offerings, Price, and Billing…

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Warren Buffett’s insurance industry forecast might surprise you

Julie Campbell
Berkshire Insurance Unit - Warren Buffett of Berkshire Hathaway

According to the head of Berkshire Hathaway, insurers should worry about self-driving cars, not climate change. At the Berkshire Hathaway shareholder meeting last weekend, Warren Buffett shared his insurance industry forecast and brought up a number of trends and innovations that have been the topic of conversation among experts in this arena. The main point that has drawn the spotlight is that Buffett doesn’t feel climate change will harm the industry. According to the insurance industry forecast he shared, climate change shouldn’t be causing any pain to his business. This…

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Auto insurance discounts are missed by 84 percent of US drivers

Julie Campbell
storm auto insurance discounts car

A recent study has shown that only 16 percent of American motorists actually take advantage of all savings opportunities. A new report was recently released by insuranceQuotes.com and has shown that a large majority of consumers in the United States are not taking advantage of all of the potential auto insurance discounts for which they might qualify with their providers. The report showed that only 16 percent of drivers had actually asked their insurance company about discounts. Among the types of auto insurance discount that are common are marriage, low…

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Auto insurance rates could be dropping in Michigan

Logan B.
michigan auto insurance

Auto insurance coverage is expected to become less expensive in Michigan due to new measure Changes being made to Michigan’s auto insurance laws could mean lower premiums for consumers and lower costs for insurers. The state’s House Insurance Committee has approved a measure that would make changes to existing insurance legislation, which could bring down premiums by $100 every year for the next two years. The measure would also prevent health care providers from overcharging insurers when they treat victims of auto accidents. Health insurers will also not be able…

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Ontario auto insurance customers may have overpaid by billions

H. Cutner
auto insurance fraud

The results of a new study have shown that drivers in the Canadian province may have been charged far too much. A new study conducted by the Schulich School of Business on behalf of the Ontario Trial Lawyers Association has revealed that drivers in Ontario, Canada, may have been paying billions of dollars too much for their auto insurance coverage. The research showed that from 2001 to 2013, drivers across the province paid between $3 and $4 billion too much. The study has pointed to the profit benchmark that was…

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Auto insurance Uber tattling plan begins by Portland taxi drivers

Julie Campbell
electronic proof of auto insurance

The ride share service has been continue to operate illegally in the city and cabbies are working to stop them. The popular Uber ride share service has now been operating illegally for a couple of weeks in Portland and local cabbies are starting to help the police in the city to be able to take the service’s drivers off the roads by ratting them out to their auto insurance companies. It started on Friday when a tweet was made on the Radio Cab Twitter account encouraging cabbies to rat out…

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