Tag: auto insurance costs

Could high auto insurance from EVs boost appeal of hydrogen cars?

H. Cutner
Auto insurance - H2 Car

As electric vehicles become increasingly popular, drivers are finding coverage to be costly. Battery electric vehicles have been skyrocketing in popularity as drivers look for ways to reduce their emissions, but high auto insurance premiums are proving to be an unappealing feature of those cars. Over time, the battery electric vehicles are expected to drive up losses for insurers causing rates to rise. According to a recent Moody’s Investor Service report titled “Electric vehicles to drive up costs, pricing for auto insurers as they grow more popular,” drivers can expect…

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Auto insurance rates have risen 17 percent since 2020

G. Turner
Auto insurance Rates - 17 Percent

American drivers are paying considerably more now for their coverage than a couple of years ago. Drivers across the United States are paying around 17 percent more for their auto insurance than they were paying in 2020, according to the results of a new Insurify study. This year, the average annual premiums for passenger vehicles across the country is $1,750. Michigan was identified as the state where drivers are paying the most for their auto insurance, at an average annual $2,510. The difference between that and what drivers are paying…

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Over 1 in 2 drivers feel they’re paying too much for auto insurance

Nordstrom
Auto insurance - high cost car coverage

Almost 1 in 3 motorists have recently switched their insurers for cheaper coverage. The majority of drivers believe they are paying too much for their auto insurance coverage, and a large number of them are aiming to remedy the issue by switching insurers according to a recent Forbes Advisor survey. The survey involved the participation of 2,000 drivers in the United States who have a car policy. The Forbes Advisor survey showed that 58 percent of drivers feel they’re overpaying for their auto insurance. A large number of those policyholders…

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How do warnings affect my car insurance rates?

Guest Author

Traffic warnings shouldn’t affect your car insurance, as they usually don’t go on your driving record. Any citation that appears on your driving record may have an impact on your insurance rate; however, getting a warning is just that – a warning and not a violation or citation. In this article, we will highlight everything you need to know about traffic warnings and how they affect your car insurance rates. Why do police officers give out warnings? Police officers are usually faced with a hard choice of either issuing a…

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Michigan auto insurance law does not guarantee drivers savings, says official

Marc
Michigan Auto Insurance Law - Driver - Steering Wheel

Motorists have been hopeful that the much-needed changes would make a difference, but it’s not assured. Drivers have been waiting for a new Michigan auto insurance law to help control high and rising premiums in the state. However, according to one official, motorists should not consider the savings to be guaranteed. The personal injury protection (PIP) system has made Michigan rates the highest in the country. The new Michigan auto insurance law does not provide any new assurances that the extra costs from additional required liability coverage would be offset…

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