Tag: auto insurance premiums

Auto insurance rates aren’t likely to drop with inflation

G. Turner
Car insurance - Rise in cost

Even as rates have started dropping, it is unlikely that drivers will see their premiums easing. Though drivers might be inclined to believe that as inflation starts to fall, auto insurance rates aren’t likely to get any cheaper. In fact, premiums are expected to rise, and in some areas, they’ll be increasing by quite a bit. The average cost of full coverage is $2,014 in the United States, which is 14 percent higher than last year. According to the True Cost of Auto Insurance Report by Bankrate, the average cost…

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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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Rising auto insurance rates causes customer satisfaction to fall

H. Cutner
Auto insurance rates - Insurance Company

A new JD Power study showed that drivers are unhappy with their insurers over climbing premiums. A new JD Power study has shown that motorists’ satisfaction with their insurers is falling as they watch their auto insurance rates rise. JD Power published the results of their 2022 Insurance Shopping Study showing discontent among drivers. The study showed that auto insurance rate hikes have been driven by a 41 percent rise in the price of used cars. This has pushed vehicle repair and replacement costs skyward and has sent insurers to…

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Mercury releases list of SUV models for the cheapest auto insurance

Logan B.
Cheapest Auto Insurance

The insurer has identified the top sport utility vehicles for affordable policies. A major factor worth considering in the purchase of a new sports utility vehicle (SUV) is whether it will qualify for the cheapest auto insurance. Coverage is an ongoing cost that will continue for the entire lifespan of the vehicle. By taking premiums into consideration, even a slightly more expensive SUV that has the cheapest auto insurance could end up being the most affordable vehicle to own over its lifetime. Since SUVs are now notably more popular than…

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Another State Farm Louisiana auto insurance rate reduction ahead

Marc
Louisiana auto insurance rate - Cars on highway

The insurer has already slashed its rates earlier this year due to the reduced claims during the pandemic. More Louisiana auto insurance rate cuts are on their way from the largest car insurer in the state. The reason for the latest reduction in State Farm premiums is the same as the last. The pandemic lockdowns have taken many cars off the roads, shrinking claims rates. State Farm currently covers about one in every three private vehicles in the state. State Farm provides car insurance to almost one third of all…

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Eased truck insurance premiums enforcement gives much needed relief in pandemic

Logan B.
Truck insurance premiums - Trucks on road

The goods transportation industry is fighting hard to keep up with new demands in a changing landscape. The trucking industry has stepped up to meet rapidly shifting needs in an evolving arena, but new relaxed truck insurance premiums regulations is offering some relief. This transportation is critical to making sure businesses and individuals have access to essentials. That said, while many truckers are certainly keeping busy, the truck insurance premiums that have been rising over the years have placed substantial pressure on these businesses as they fight to keep up.…

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New Allstate app to help good drivers save more on auto insurance premiums

Logan B.
Allstate app - Man using mobile phone

The insurer is testing a new app-based program to monitor motorist behaviors for weekly savings opportunities. A new Allstate app has entered into the testing process with the goal of allowing good drivers to prove how safe they are behind the wheel in exchange for savings. The program monitors a number of habits such as speeding and braking hard. The idea expands on existing usage-based insurance strategies including those already offered by the insurer. The goal is to make it possible for good drivers to demonstrate that they are a…

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