Live Insurance News

New earthquake insurance options being offered in California

January 8, 2016January 7, 2016 Marc

California Earthquake Authority launches new options to make earthquake insurance more available Homeowners in California will have more options when it comes to earthquake insurance in 2016. The California Earthquake Authority will be offering new options for consumers, allowing them to purchase more affordable insurance coverage that better suit their needs. This comes as a response to the fact that many homeowners lack earthquake insurance coverage, which can expose them to significant financial risks that they may not be able to handle on their own. Many consumers lack the earthquake…

New auto insurance policy designed for drive-share companies approved in California

October 16, 2015October 14, 2015 Marc

State Insurance Commissioner approves new auto insurance policy for drivers California Insurance Commissioner Dave Jones has approved the state’s first official auto insurance policy designed specifically for Lyft and Uber drivers. The policy has been formed to address the problems associated with drive-share companies and the insurance coverage that they offer to their drivers. The insurance policy is coming from MetLife Auto & Home. The policy will provide individual coverage for Uber and Lyft workers, providing them with the protection they have may have been lacking in the past. Coverage…

Health insurance coverage set to expand in Los Angeles County

October 13, 2015October 11, 2015 Logan B.

Health Insurance Rates California Expected to Rise

Uninsured population in LA County remains quite high The uninsured population remains high in Los Angeles County, California, despite successfully enrolling nearly half a million people into the state’s health insurance exchange last year. Only five other states have a higher uninsured population than Los Angeles County alone, which has become a significant concern for state officials and consumer advocates. Caring for those without insurance coverage falls upon the county government and a network of community clinics that are tasked with providing medical care. Report shows that some 1.55 million…

Electric vehicles also come with higher auto insurance premiums

October 7, 2015February 27, 2021 S.Vagus

electric vehicles insurance premium and how they defer

Research shows that those with electric vehicles pay more for their insurance coverage Research from NerdWallet suggests that those with electric vehicles have higher auto insurance premiums. The organization has compared the premiums that drivers of electric vehicles and those with conventional vehicles experience. The reason why electric vehicles are attached to higher auto insurance premiums is due to the relatively high costs associated with operating and maintaining these vehicles. Repairing an electric car can be a costly process, which could lead to financial losses for insurance providers, which has…

Pennsylvania issues warning to the insurance industry

September 4, 2015September 3, 2015 Marc

State has warned insurers not to practice price optimization as it is unfairly discriminatory Pennsylvania has joined seven other states in warning the insurance industry against practicing “price optimization,” a technique that insurers often use to raise premiums for those they deem unlikely to search for better deals. The Consumer Federation of America notes that this practice is unfair and illegal, as it often makes use of socio-economic information that insurers are banned from using to price coverage in some states. The organization suggests that this pricing practice is a…

Geico agrees to pay $6 million auto insurance settlement in California

August 28, 2015August 27, 2015 Logan B.

Geico has agreed to pay a settlement concerning accusations of discriminatory practices Geico, one of the most prominent auto insurance providers in the United States, has agreed to pay $6 million in order to settle bias charges made against it, which were first raised by the Consumer Federation of California. The charges have to do with the insurer discriminating against drivers regarding their gender, education level, and occupation when they sought out quotes for policies online. The insurers will be paying the $6 million settlement over the course of three…

California is working to expand health insurance coverage

July 20, 2015July 18, 2015 S.Vagus

State lawmaker seeks to expand coverage to undocumented residents Expanding health insurance coverage to undocumented immigrants in California is an initiative that is picking up steam. Senator Ricardo Lara has been a champion for this cause for some time, but expanding coverage to these people is not an easy achievement. Ensuring that undocumented residents can receive coverage through the state’s health insurance exchange, Covered California, may be an expensive and politically difficult situation to manage, but it has been growing in popularity among both lawmakers and consumers throughout the state.…