Tag: auto insurance coverage

Whose auto insurance is cheaper? State Farm or Allstate?

G. Turner
Car insurance - Allstate Vs State Farm Comparison

According to a recent comparison report, one insurer clearly comes out on top as more affordable. State Farm and Allstate are two of the largest auto insurance companies in the country, but just because they’re big national insurers, it doesn’t mean that there isn’t a difference in how much it will cost if they insure you. Each insurer has strong advantages associated with it, but one was found to have lower premiums. A comparison company called The Zebra recently conducted a deep dive into what the companies offer and how…

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More Americans are shopping for auto insurance than ever before, JD Power

Nordstrom
Auto insurance - Shopping for insurance on computer

An increase in car ownership and rising premiums are among the reasons people are shopping around. The number of households in the US with cars but that don’t have auto insurance increased during the first half of this year, and the percentage of drivers who say they’re shopping for coverage has hit record levels. JD Power released data based on their findings in a recent report based on American households. JD Power recently published an auto insurance intelligence report in which they revealed the trends they identified in this market.…

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US consumers are still shopping around for auto insurance

G. Turner
Auto insurance - shopping - mobile

Q2 data from JD Power showed that switching continued to be as high as in the previous quarter. Rates continued to be an obstacle for auto insurance companies in this year’s second quarter, according to the JD Power Q2 2023 US Auto Insurance Shopping LIST Report. Insurers have been increasing rates to keep up with costs, sending drivers to look for cheaper options. As auto insurance rates keep climbing, drivers have been looking into different coverage options in an effort to find options that will be more affordable. The report…

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Toyota Auto Insurance steps into Georgia’s market

Marc
Toyota Auto Insurance - Person driving Toyota car

The automaker’s own coverage is for the first time available to drivers living in the state. Toyota Auto Insurance, a coverage product from the Japanese automaker, has now expanded to include drivers in Georgia. The coverage was first offered in select markets in 2021 with the promise of affordable rates. The pitch from Toyota Auto Insurance is that it will offer customizable, quality coverage at an affordable rate. Though it has been slowly rolling out to include a few new states after a launch in a limited number of markets,…

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Auto insurance dissatisfaction drives usage-based coverage growth

H. Cutner
Auto insurance - Usage-based coverage increasing

About one third of covered US consumers said they had experienced a rate increase in the last year. Across the United States, around one in three drivers with coverage experienced a rate increase within the last year, said a new JD Power 2023 US Auto Insurance Study. This has pushed them to look for new ways to save money on their policies that they might not have tried before. Mainly due to the rising expense associated with covering their vehicles, customer satisfaction with this coverage fell by 12 points to…

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Auto insurance rates calculations may be changing in Massachusetts

Logan B.
Auto Insurance Rates - Calculations - Money

A new bill has been proposed in the state that will alter the way premiums are calculated for drivers. A newly proposed bill in Massachusetts has the potential to greatly change the way auto insurance rates are calculated, and the amount people will be paying for their coverage in the state. The Senate bill is aimed at changing highly influential components used to calculate premiums. Among the factors that are most defining to auto insurance rates in Massachusetts is a driver’s ZIP code. However, the bill in the Senate is…

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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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