Live Insurance News

Allstate remains ahead of Geico in auto insurance market

March 18, 2013March 17, 2013 Dan

Gap between Allstate and Geico begins to narrow Allstate remains the second largest company in the U.S. in terms of auto insurance, but the company may soon lose its position to competitor Geico. Over the past year, the auto insurance sector has seen some volatility due to the frequency of natural disasters and the prevalence of insurance fraud. Despite this volatility, however, several auto insurance companies, such as Allstate and Geico, have managed to generate strong profits. The gap that once separated the two companies is beginning to narrow as…

Michigan insurance news – no-fault fund transparency

January 9, 2013April 30, 2013

Every car in Michigan pays a $175 yearly fee to the Michigan Catastrophic Claims Association. In recent insurance news, one Judge in Ingham county decided that the public fund should be open for review so residents can understand how the fund sets the annual rate. No-fault and catastrophic loss The MCCA was created by state legislation to help Michigan insurance companies that pay out more than half a million in claim money to people in car accidents and suffer life altering injuries. This limit is for individual claims. Residents have…

Progressive brings a new take on auto insurance and savings

January 1, 2013January 1, 2013 Nordstrom

Progressive continues to generate hype for its Snapshot device Progressive Insurance has been making waves in the world of insurance news with its in-car device that helps calculate the cost of auto insurance policies. In 2011, Progressive introduce an ambitious new auto insurance scheme that provided drivers with a way to save money on their coverage by providing the company with detailed data concerning their vehicles and driving habits. This is accomplished through a device called Snapshot, which can be installed in any vehicle manufactured after the year 1996. Device…

Ohio lawmakers approve changes to minimum auto insurance requirements

December 19, 2012December 19, 2012 Dan

Ohio auto insurance expected to become more expensive for some drivers Ohio drivers are expected to see the costs of auto insurance climb, but not because insurance companies are raising rates for coverage. A new law has been approved by the Ohio Legislature that will increase the minimum level of auto insurance drivers are required to carry in the state. Though the law has been approved by both the Ohio House and Senate, it must still be signed by Governor John Kasich. If the law receives the Governor’s approval, Ohio…

Esurance aims to raise auto insurance rates in Illinois

December 11, 2012January 12, 2014 Dan

Questionable tow and glass claims run rampant

Esurance introduces new rate hike for Illinois market Esurance, a leading online auto insurance provider owned by Allstate, is looking to raise the rates of its coverage in Illinois. The auto insurance company has plans to raise rates by an average of 5% throughout the state by December 11.Esurance suggests that the increase comes after a review of the Illinois insurance market. The company has determined that a rate increase is necessary in order to remain competitive and account for some of the risks that are emerging within the market…

Auto insurance theft claims low for Prius

November 24, 2012November 22, 2012 Julie Campbell

Vehicle Theft black friday auto insurance claims

According to recent data, thieves seem to avoid this Toyota hybrid vehicle. The National Insurance Crime Bureau has released its statistics related to auto insurance claims for stolen vehicles and has found that the Toyota Prius is rarely targeted by thieves. This popular hybrid vehicle has a very low theft rate Furthermore, the report also showed that even when this vehicle is stolen, it is common for law enforcement to find it quickly and return it to its owner. This can mean good news for the auto insurance premiums that…

Auto insurance customers in some cities pay more

November 21, 2012April 30, 2013

The five most expensive municipalities have been identified for drivers’ premiums. Owning and maintaining a vehicle can have a lot of cost associated with it, especially when you include the cost of auto insurance premiums and other upkeep and legally required expenses. Even good drivers can face higher premiums based on their location. A recent study has identified the leading five cities in which car ownership can be the most expensive as a result of the increased auto insurance costs. The results of this study were recently released to allow…