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

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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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State Farm rates are headed higher for drivers shortly after reductions

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The auto insurance rates were recently cut but are now headed for an increase in some states. Shortly after State Farm rates were cut for motorists across the country, some auto insurance customers will now be seeing higher premiums on their monthly bills. Only months after the last decreases it issued for auto insurance, the insurer has received a hike approval. The increases were requested in certain states. For instance, Louisiana recent approved of the request for a State Farm rates increase. The insurer is now increasing its rates by…

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Auto insurance customers in Ontario, Canada overpaying by $5 billion

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A new Ontario Trial Lawyers Association says policyholders have paid far too much over five years. Ontario, Canada auto insurance customers may have been overpaying by as much as $5 billion on their premiums. This figure accumulated over the last five years, said a new Ontario Trial Lawyers Association report. Claims continued falling as car insurance company profits grew significantly in that time. At the same time that auto insurance customer were making fewer claims, insurers were making more money. In fact, according to the report, insurer profits rose to…

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