Live Insurance News

State Farm expected to raise Louisiana auto insurance rates

August 8, 2023August 15, 2023 H. Cutner

The insurer covers more than a quarter of all drivers in the state, many of whom will soon pay more. State Farm, the insurer that currently provides auto insurance coverage to about 29 percent of Louisiana drivers, is expected to raise its rates in the state. This will mean that more than a million people might find their premiums moving up. According to Louisiana Insurance Commissioner Jim Donelon, there are several reasons that State Farm is seeking to bump up its rates by double-digit average amounts. “This 17.3% rate increase…

Auto insurance dissatisfaction drives usage-based coverage growth

July 11, 2023July 11, 2023 H. Cutner

Auto insurance - Usage-based coverage increasing

About one third of covered US consumers said they had experienced a rate increase in the last year. Across the United States, around one in three drivers with coverage experienced a rate increase within the last year, said a new JD Power 2023 US Auto Insurance Study. This has pushed them to look for new ways to save money on their policies that they might not have tried before. Mainly due to the rising expense associated with covering their vehicles, customer satisfaction with this coverage fell by 12 points to…

Insurance For Builders: Everything you Need to Know

July 4, 2023 Guest Author

Builders and property owners can face massive monetary losses if things go wrong during construction and they don’t have the relevant insurance. Builder’s risk insurance and Contractors’ All Risks (CAR) Insurance are insurance policies that cover construction project risks. This piece covers both in detail, so read on for more information. Builder’s Risk Insurance Builder’s risk insurance covers construction materials and property. New projects and renovation work both qualify for this policy. The insurance covers property under construction from events like vandalism, fire, etc. Construction projects fall into two categories…

Catastrophic claims fees to take effect in Michigan auto insurance rates

June 16, 2023June 15, 2023 Logan B.

Drivers across the state will need to start paying the additional fees starting with July premiums. Michigan drivers are going to be paying more for their auto insurance starting in July, when higher catastrophic claims fees go into effect. This is the case even for motorists who have opted out of catastrophic no-fault coverage. Last year, the Michigan Catastrophic Claims Association (MCCA) decided to increase its annual per-vehicle assessments on all auto insurance policies in the state. The fee hikes resulting from that decision will become effective as of July…

What is your dashcam doing to your auto insurance?

June 8, 2023July 5, 2023 Nordstrom

Dashboard-mounted cameras are becoming increasingly popular, but will they impact your rates? Have you ever wondered about what impact your dashcam could have on your auto insurance premiums, particularly in the event of a collision? This technology is no longer exclusive to law enforcement and commercial transportation. Dashcams were once a technology used nearly exclusively by law enforcement, and then later in some commercial vehicles such as transport trucks, in order to help provide evidence in the event of a collision or other issue. Now, they are commonplace in passenger…