Tag: auto insurance premiums

Credit has a big impact on auto insurance premiums

Marc
auto insurance fraud accident

Report highlights the effect that credit data has on insurance prices Credit score has a lot to do with auto insurance rates, according to a recent report from WalletHub, a personal finance organization. The report focused on how a driver’s credit score affects their insurance rates in the United States. All states but California, Hawaii, and Massachusetts were examined for the report. In these states, using a driver’s credit history to price auto insurance coverage is illegal, so such information does not contribute to higher premiums. Those with no credit…

Read More

Auto insurance premiums at GEICO and Allstate are going up

G. Turner
Geico auto insurance

Certain large national insurers will be increasing their rates following a decline in underwriting results. It looks as though even the auto insurance companies that are known for providing affordable premiums are not immune to the need to increase rates every now and then, as GEICO has joined the national insurers that have been increasing their rates. The first quarter’s decline in underwriting profits were down and will be increasing rates to compensate for it. During the first quarter, GEICO saw underwriting profits of $160 million. When compared to the…

Read More

Michigan auto insurance comes with the highest premiums in the country

Julie Campbell
michigan auto insurance

According to a recent report, drivers in this state are paying far more than those in the rest of the U.S. Drivers in Michigan are not necessarily surprised at the results of an auto insurance data analysis that were recently published by insuranceQuotes.com which revealed that those motorists are the ones paying the highest premiums for their coverage. The state has a history of far more expensive car insurance than the average for the rest of the country. According to the statistics released by the firm, drivers in Michigan are…

Read More

Lawmakers approve revisions to Michigan’s auto insurance laws

S.Vagus
michigan auto insurance

Revisions to insurance laws have been approved by the state’s Senate Lawmakers in Michigan have moved to address issues concerning the state’s auto insurance laws. The state’s Senate has approved revisions to insurance laws that are meant to curb costs associated with medical care for those that have been injured in crashes. These revisions are not entirely popular within the Senate, with opponents suggesting that these revisions could be a detriment to those that need medical care as the result of severe injuries caused by a car crash. Auto insurance…

Read More

Ontario auto insurance customers may have overpaid by billions

H. Cutner
auto insurance fraud

The results of a new study have shown that drivers in the Canadian province may have been charged far too much. A new study conducted by the Schulich School of Business on behalf of the Ontario Trial Lawyers Association has revealed that drivers in Ontario, Canada, may have been paying billions of dollars too much for their auto insurance coverage. The research showed that from 2001 to 2013, drivers across the province paid between $3 and $4 billion too much. The study has pointed to the profit benchmark that was…

Read More