Consumer groups call for higher auto insurance rebates in the US

Auto insurance rebates - Driving

The Consumer Federation of America and Center for Economic Justice say insurers aren’t doing enough. The Consumer Federation of America (CFA) and the Center for Economic Justice (CEJ) have recalculated their figures for insurers and say auto insurance rebates are not large enough. Some insurers have issued discounts and credits to policyholders in the face of COVID-19. However, the CFA and CEJ have concluded that some of the largest insurers have fallen short of fairness in the auto insurance rebates they’ve issued in the United States. Both consumer groups calculated…

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Porsche auto insurance rolling out in two states

Porsche auto insurance - Porsche logo

Some of the automaker’s customers now have the opportunity to purchase coverage directly. Illinois and Oregon luxury car drivers will be able to cover their vehicles with Porsche auto insurance. The automaker has announced the launch of its new policies to cover customers driving its vehicles. The car insurance is initially launching in two states for vehicles manufactured after 1981. The Porsche auto insurance policy will be available to owners with vehicles made in 1981 or after. It will be a mileage-based coverage for vehicles based in Illinois and Oregon…

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Arkansas Insurance Department cautions drivers against car policy scam

Arkansas Insurance Department - car - hand - insurance scam

Commissioner Allen Kerr has issued a warning to consumers in the state due to fraudulent policy sales. The Arkansas Insurance Department recently issued a warning to drivers to take care when purchasing an auto insurance policy. There has been a broad rash of fraudulent car insurance policy sales in the state. The fake car insurance is being sold by people posing as agents and are primarily selling at dealerships. According to the Arkansas Insurance Department warning, the fraudulent auto insurance policies are being sold mainly at car dealerships. People pretending…

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Insurance customer trends show one in three Americans don’t shop again for policies

Insurance customer trends - auto insurance - home insurance - hands

A new survey showed that policyholders in the U.S. don’t re-shop to find better coverage or rates. One out of every three Americans have never re-shopped for a policy, say the results of a new insurance customer trends survey. The research found that almost half of all policyholders who have looked around for a better deal has not done so within the last year. The research was conducted on homeowners insurance and auto insurance customers. American consumers are risking overpaying for their coverage, say the results of a new Policygenius…

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Allstate pay per mile insurance rolls out for New Jersey drivers

Pay per mile insurance - Speedometer - Miles

The Milewise program makes it possible for low-mileage drivers to pay based on their usage. New Jersey drivers now have a new pay per mile insurance policy available from Allstate. The auto insurance company has rolled out Milewise in the state. This insurance policy is designed to appeal to drivers who don’t go very far in their vehicles. The Allstate Milewise pay per mile insurance policy allows drivers to reduce their coverage expenses by driving less. The less these motorists use their vehicles, and the shorter the distances they travel,…

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Unfair insurance practices earn Wells Fargo a $1 billion fine

Mutual of Omaha - lawsuit

The banking giant’s latest penalties are for having sold unnecessary auto insurance to customers. Wells Fargo has been slapped with a $1 billion fine for its unfair insurance practices. Thousands of the bank’s vehicle loan customers were sold additional unnecessary auto insurance policies. Those car owners ended up paying much more for their vehicles than was necessary. Among those Wells Fargo customers, thousands ended up having their vehicles repossessed as a result of the unfair insurance practices. The fine was laid down by the Consumer Financial Protection Bureau as well…

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The Wells Fargo scandal continues to bite with 38,000 erroneous letters mailed

wells fargo scandal letter

The auto insurance scam involved selling unnecessary coverage and now includes sending letters containing mistakes. The Wells Fargo scandal that rocked the financial services company in the second half of last year just became more unpleasant. As the bank attempts to recover from the latest damage to its reputation in which auto loan customers were sold insurance policies they didn’t need, they’ve now made another mistake they didn’t need. The bank accidentally sent out letters about the auto insurance scam containing erroneous information. The Wells Fargo scandal involved requiring car…

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