Tag: auto insurance premiums

Auto insurance is far higher for some Florida drivers than others

Julie Campbell
Florida proof of Auto Insurance

A recent report has shown that motorists in the state have premiums highly impacted by their location. A report that was recently released by ValuePenguin.com has revealed that location plays a very important role in the cost of auto insurance in Florida, as it does in most other states, and has revealed the cities in which drivers are paying the highest amount for their coverage. It showed that the cost of coverage in Tampa and St. Petersburg is among the highest in Florida. The average rate for the drivers in…

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Auto insurance usage based programs could reduce rates by 15 percent

Julie Campbell
usage based insurance auto

Providers in Ontario are eyeing these new telematics plans as the Canadian province seeks to lower premiums. The government of the Canadian Province of Ontario has tasked the auto insurance industry with reducing rates by 15 percent, and they are now looking to usage based programs based on telematics to be able to achieve this goal. That said, this type of plan is not necessarily designed to benefit people who commute every day in rush hour traffic. Auto insurance companies are now seeking to speak with the financial services regulator…

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Auto insurance fraud to blame for high costs

Julie Campbell
Auto insurance fraud

According to the industry, it is the scammers and thieves that are to blame for consumers having to pay too much. Drivers in Ontario, Canada have been complaining about the high cost of auto insurance, and the industry in that province has now responded by confirming that these consumers are right, consumers are paying too much. However, the reason for these skyrocketing prices is that fraudsters are keeping costs high for the insurers. Massive investigations into the auto insurance rates in Ontario have been underway since the NDP (New Democratic…

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Auto insurance competition helps U.S. drivers

Julie Campbell
Auto Insurance rates and prices

It is believed that this heavily regulated industry keeps its prices down because of the need to compete. The Insurance Information Institute (I.I.I.) has released a report that has stated that even though the auto insurance industry is extremely regulated in the U.S., the high level of competition within the marketplace is making sure that coverage is broadly available to motorists and stays affordable. The cost of this coverage has been increasing at a slower rate than gasoline and healthcare, said the I.I.I. In response to a Consumer Federation of…

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Auto insurance rate calculation factors may harm lower earners

Julie Campbell
auto insurance premiums

Americans whose incomes aren’t as high are being viewed unfavorably by many vehicle insurers. A number of large auto insurance companies in the United States are still using a driver’s education level and occupation as factors that are used in the calculations of his or her rates. A recent report is suggesting that this practice is pricing out earners in the low and moderate income brackets. The Consumer Federation of America has now released a report that has looked into the impact of the behaviors of auto insurance providers when…

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