Tag: auto insurance rates

Teens may be driving up auto insurance rates

S.Vagus
parent teen driver auto insurance mobile

Rates for teen drivers are on the rise in Utah and other states Teen drivers may be pushing auto insurance costs higher in Utah and other states. A new survey from insuranceQuotes.com shows that the average premium for auto coverage has increased by 89% throughout the state. Utah is now home to the 15th highest auto insurance rates in the country, and teenagers may be responsible for this. Teens have long been a major risk for insurance companies, largely due to conceptions regarding their recklessness and lack of driving experience.…

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Insurance Fraud and its Effect on Premiums

Note From The Editor
auto insurance ride share

Auto insurance fraud is a costly problem Insurance fraud is quite prevalent, but not necessary always in the spotlight. Many people don’t understand how fraud affects the insurance industry or that fraud also has an impact on them as well. In the auto insurance sector, fraud has become quite common, partly due to the prevalence of certain laws and the that there are groups devoted to committing fraud in a highly organized manner. Some of these groups are lead by medical and insurance professionals as well. According to the Coalition…

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Auto insurance hike prevention efforts taken on by Michigan

H. Cutner
michigan auto insurance pothole

The state’s legislators are now getting behind efforts to stop rates from rising from pothole damage claims. A long winter of extreme weather has now brought about a rather nasty pothole season in Michigan, and the state’s House of Representatives are now looking into a bill that has recently been introduced to help to control the impact that this will have on auto insurance premiums as claims from damage start pouring in. The bill is meant to help to keep premiums from rising because a claim was made for pothole…

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Auto insurance affordability taken on by FIO

G. Turner
Health Plan Premiums Could Rise

The shiny new Federal Insurance Office is taking its first steps toward vehicle coverage. The Federal Insurance Office (FIO), which has only just recently been created, has now set its sights on the auto insurance sector and it has now announced that it will be taking on the issues of both availability and affordability. The FIO is going to be focusing specifically on the way that a specific group of consumers is being served. According to the announcement from the FIO, it will be starting a study that will look…

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Auto insurance premiums calculations are under the microscope

G. Turner
auto insurance premiums

Insurers and industry groups are seeking to lower rates through the better use of available data. According to the research conducted by consumer groups, the factors that are being used to calculate auto insurance are being used unfairly for that practice, as issues unrelated to driving risk are being given far too much weight. These factors go far beyond the obvious points such as speeding tickets and car accidents. The New York Public Interest Research Group and the Consumer Federation of America have both issued their own separate reports that…

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