State Farm Ohio auto insurance rates to see 14.3 percent reduction

Ohio auto insurance rates - cars on road

Drivers in the state will be saving a total of $174.1 million per year from the decreased premiums. State Farm recently announced that it plans to implement another Ohio auto insurance rates reduction. It will slash premiums by an average of 14.3 percent, according to the statement issued on July 29. The impact of the COVID-19 pandemic was cited as the reason for the premiums cut. According to State Farm Insurance, “Driving behaviors across the country continue to evolve during the COVID-19 pandemic. Based on current trends, State Farm is…

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Elon Musk announces another attempt at Tesla car insurance

Tesla car insurance - Tesla car logo

This time, he is promising a “major insurance company” despite the failure of last year’s rollout. Tesla is pushing forward for a full Tesla car insurance product that will use data collected using its vehicles about the habits of its drivers. The goal is to use real driving data to provide policyholders with lower premiums than traditional insurers. “We’re building a great, like a major insurance company,” said CEO Elon Musk when speaking about the Tesla car insurance to investors during the second-quarter earnings conference call. This occurred on the…

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Amazon auto insurance is now available for drivers in India

Amazon auto insurance - Amazon building

The company has started selling coverage for two- and four-wheelers driven in the country. Amazon auto insurance has now rolled out in India, marking the first time the retail and tech giant has stepped into the global financial services category. The e-commerce company confirmed solidifying a deal with Acko General Insurance from Mumbai. The Amazon auto insurance sales are underwritten by Acko General Insurance and are available to car drivers and motorcycle riders in the country. Amazon is also an investor in that insurer. Amazon Pay chief executive and director…

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State Farm car insurance claims fall by as much as 50 percent in some states

State Farm car insurance - cars driving on road

The largest auto insurer in the country has been reducing its rates in response to the trend. State Farm car insurance rates have been reducing across the country due to the trends relating to the COVID-19 pandemic. Some of the insurer’s latest data has made it clear why it has been willing and able to make these reductions. Since the pandemic crisis began, the number of miles driven by Americans has plummeted. As a result, there have been far fewer State Farm car insurance claims, meaning the coverage is more…

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State Farm auto insurance rate cut gets the nod in Louisiana

Auto insurance rate cut - Jar of pennies

State Insurance Commissioner Jim Donelon gave his approval to the decrease of 9.6 percent. Last week, Live Insurance News reported that State Farm had requested permission for an auto insurance rate cut. Now, state Insurance Commissioner Jim Donelon has given the necessary approval for the rate to be reduced by an average of 9.6 percent. This means that Louisiana drivers who are covered by State Farm have more savings ahead. State Farm’s auto insurance rate cut follows several others that have occurred over the last while. In 2018, the insurer…

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Another State Farm Louisiana auto insurance rate reduction ahead

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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National General to be acquired by Allstate for $4 billion

National General - Business Deal

The insurance giant is making the purchase to expand its auto reach and independent agent business. Insurance giant Allstate Corp announced this week that it will purchase National General Holdings Corp for about $4 billion. This will be a cash purchase, boosting the insurer’s auto insurance business just as the pandemic crisis has made that sector highly profitable. Auto insurance claims are way down due to the smaller amount of traffic on the roads. National General shareholders will be compensated with $32 per share in cash. They will also receive…

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