Tag: auto insurance trends

This year to be a period of auto insurance rate increases

Marc
Auto Insurance rates - not affordable

After years of rising price trends in much of the country, 2024 is likely to continue the trend The price of everything appears to be continuing to rise, and many experts predict that auto insurance rates will be among those increasing prices consumers must face. Coverage since the pandemic has steadily become more expensive The cost of auto insurance depends on several factors, including everything from an individual’s driving record to the type of vehicle they drive, and a number of other elements depending on the state in which they…

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How EV Insurance is Transforming the Insurance Market Landscape

Loreen
evs high tech vehicles insurance costs

The automotive landscape is embarking on a transformative journey with electric vehicles (EVs) and high-tech cars steering the course. This electrifying shift is not only redefining transportation but also reshaping the dynamics of auto insurance. As EVs and vehicles laden with cutting-edge technologies become more prevalent, their impact on insurance costs has emerged as a critical issue for drivers and insurers alike. The fusion of sophisticated electrical systems, driver-assist technology, and complex vehicle software has ushered in a new era of challenges in risk assessment and repair costs. Understanding these…

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Property insurance shopping drops into negative figures for first time in 18 months

PR Article
insurance news report

Property and Auto Insurance Shopping Slows at End of 2021  Despite optimism at the outset of the quarter, property and auto insurance shopping trended below 2020 levels at the end of 2021. TransUnion’s (NYSE: TRU) latest Personal Lines Insurance Shopping Report found auto insurance shopping was down an average of 12.5%, while property insurance shopping dropped an average of 3.4%, compared to the same time period in 2020. Record-breaking prices for both new and used vehicles deterred many consumers from auto shopping, and in turn, reduced insurance shopping by as…

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Auto insurance rates increase as gas prices drop

Julie Campbell
fuel cost auto insurance rates

There are many reasons that premiums can fluctuate, but this winter it isn’t the storms as much as the affordability. Most drivers see a drop in the price at the pump as being a fantastic way to save money, and this can even encourage more people to head out onto the roads and city streets because it is seen as more affordable, but most also have not taken their auto insurance rates into account. As much as the gas prices, themselves, don’t cause auto insurance to become more expensive, road…

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Will auto insurance rates rise because of cheaper prices at the pump?

G. Turner
gas prices at the pump auto insurance

Just as the cost of fueling up with gas goes down, the premiums for coverage might go up. As we watch the price of gas falling, it can be easy to think that we’ll be saving a lot of money, that is until the auto insurance premiums start to make their rise and find us spending in a new area. The price of gas is not directly related to the insurance rates that are charged, but it is indirectly connected. Although the price being advertised at gas stations does not…

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