Tag: auto insurance company

What is your dashcam doing to your auto insurance?

Nordstrom
Auto insurance - Dashcam in Car

Dashboard-mounted cameras are becoming increasingly popular, but will they impact your rates? Have you ever wondered about what impact your dashcam could have on your auto insurance premiums, particularly in the event of a collision? This technology is no longer exclusive to law enforcement and commercial transportation. Dashcams were once a technology used nearly exclusively by law enforcement, and then later in some commercial vehicles such as transport trucks, in order to help provide evidence in the event of a collision or other issue. Now, they are commonplace in passenger…

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State Farm releases winter preparedness tips for auto insurance customers

Live Insurance News
Winter preparedness - Winter Driving

The insurer is hoping to support its policyholders in avoiding becoming stranded during holiday travel. State Farm is hoping that this holiday season will be easy on its policyholders and has issued winter preparedness tips to its auto insurance policyholders to help them to get where they want to be safely and without finding themselves stranded along the way. Poor road conditions will happen but being ready for it can make all the difference to safety. State Farm has issued a list of helpful tips and tools that all drivers…

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Berkshire’s 2020 underwriting profit got a shot in the arm from GEICO

Logan B.
Underwriting profit - Person holding out cash

The company’s income was black, even when its P/C reinsurance experience notable losses. Berkshire Hathaway recently reported that despite the widespread losses it saw in insurance on the whole, it managed to see property/casualty underwriting profit last year due to GEICO’s performance. The number two insurer in the United States managed to more than double its profits from 2019. The results GEICO brought Berkshire Hathaway brought its full-year property/casualty income into the black, despite having seen underwriting losses in P/C reinsurance in both 2019 and 2020. All tolled, GEICO brought…

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Texas auto insurance claims filed by the thousands, and they’re just getting started

Marc
Floodwaters flood auto insurance claims

Insurers covering vehicles in areas affected by Hurricane Harvey expect hundreds of thousands of claims. Auto insurance claims have already started filing in as a result of Hurricane Harvey, but despite the high numbers, they’re just getting started. Insurance companies throughout the affected regions are bracing for hundreds of thousands more. In fact, as of last Thursday, the 100,000 mark had already been passed. “We do know that approximately 100,000 claims have come in,” said the Insurance Council of Texas manager of governmental and regulatory communications, Matt Stillwell. That trade…

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Auto insurance rates getting more expensive, says J.D. Power

Marc
auto insurance rates companies customer satisfaction

The firm’s 2017 U.S. Auto Insurance Study revealed that more than 1 in 4 drivers is paying more. J.D. Power released its 2017 U.S. Auto Insurance Study showing that auto insurance rates are headed skyward for a quarter of Americans this year. This came with the not-too-surprising news that drivers are less satisfied with their car insurance companies than they were previously. The car insurance rates are having a direct impact on how satisfied Americans are with their insurers. The J.D. Power study this year found that 26 percent of…

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Are car insurance rates higher in urban minority neighborhoods

Logan B.
Car Insurance rates

A recent study suggests that they are, but the research report has been accused of producing flawed findings. A new car insurance rates study has been published by ProPublica and Consumer Reports. It suggests urban neighborhoods populated primarily by minorities pay higher auto insurance premiums than comparable communities of lower minority populations. However, an insurance industry group has accused the report’s findings of being flawed and misleading. The study used car insurance rates data from California, Texas, Missouri and Illinois. The data was broken down by ZIP code and claims…

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Geico auto insurance rates headed skyward in Illinois

G. Turner
Geico auto Insurance

The average premiums increase is expected to be 3.5 percent, according to state records. Geico auto insurance will be increasing its rates in Illinois next year. The company, which is owned by Berkshire Hathaway, will raise premiums by an average of 3.5 across the state. The new Illinois auto insurance rates will become effective on February 6, 2017 for policy renewals. This is not the only increase being issued by Geico auto insurance. In fact, the insurer has been making similar announcements across the country. Throughout 2016, the average policy…

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