Following a new equality regulation that prohibits insurers from using gender to help determine what a driver’s premiums will be, young female drivers may soon be paying more to compensate for the fact that being male can no longer be considered to be a risk factor. According to auto insurance brokers Adrian Flux, the new increased rates will begin as early as December 2012. It is at that time that insurance companies in the United Kingdom will no longer be able to benefit from an exemption that currently allows them…
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Allstate survey shows that U.S. drivers are confident in their driving abilities despite their dangerous habits
A new study from Allstate Corp. suggests that U.S. motorists may not be as skilled of drivers as they may think. The study shows that the majority of Americans consider themselves to be good drivers with safe habits. This notion is contrary to the evidence compiled by Allstate that suggests otherwise. How the auto insurance industry will react to the study is yet to be seen. Whether the study will serve as inspiration for drivers to improve their habits is also unclear. Allstate studied more than 1,000 adults in the…
Read MoreAuto insurance fraud comes in different shapes and sizes
According to industry experts, it is not at all uncommon for people to make false claims about their vehicles – from claiming that their luxury cars are farm vehicles to under-stating their mileage – in order to try to keep their car insurance premiums down, which does trickle down and affect the honest consumer. The result of this fraudulent behavior is making it increasingly difficult for a good driver to find auto insurance at a cheaper rate. According to spokesperson, Pete Moraga, from the Insurance Information Network of California, insurers…
Read MoreDoes Progressive’s Snapshot program offer a true auto insurance discount?
Progressive has taken a new approach to car insurance, called the Snapshot program, that allows its policy holders to share their driving habit information for the opportunity to try to save money. According to the general manager of usage-based insurance at Progressive, Richard Hutchinson, the program is completely voluntary, so drivers who are not interested in taking part are not required to do so. Participating drivers have their cars fitted with a Snapshot transmitter device, which is compatible with most vehicles made in 1996 and afterward. The device monitors the…
Read MoreMetLife Auto & Home supports GM free insurance promotion
MetLife Auto & Home has announced that it stands by General Motors in its direct marketing agreement to offer new car buyers a year of free auto insurance. The promotion gives MetLife Auto the opportunity to increase its brand recognition, which it hopes will then help it to build its force of independent agents. That said, many independent agents have voiced concerns over this deal, which is offered only in Washington state and Oregon. The president and chief executive officer of the Independent Insurance Agents & Brokers of America…
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