A new form of auto coverage, called “pay-by-the-mile” insurance has now been designed to help people to save money on their premiums and to encourage them to drive less and use public transportation more regularly. The way that the coverage works is that drivers who put fewer miles on their vehicles will pay a lower rate for their insurance every month. It places a direct link between their vehicle’s mileage and their insurance plan. The plan is based on an average annual driving distance of 19,000 miles. Though it does…
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Ranking the states by the cost of auto insurance coverage
According to the Insure.com study results, which have only just been released, Louisiana is the state in which it is most expensive to insure a vehicle in the entire country, whereas Maine enjoys the lowest insurance rates in the U.S. The average annual cost of insuring a car in Louisiana is $2,536, whereas in Maine the average cost is only $889. The issues that have been driving the rates higher in many states includes the insurance laws within those states, larger numbers of drivers without insurance, the number of different…
Read MoreErie Insurance survey shows customers distracted from coverage by amusing advertising
Erie insurance has released the results of its latest survey that has shown that insurers have released so many humorous ads that are focused on the price of their products that consumers have been distracted from the actual coverage. Among the participants in the survey, 68 percent said that the majority of the funny auto insurance ads were focused on the money savings they provide. Though these same respondents said that the coverage that a policy provides is the most important thing to consider when buying insurance, 74 percent said…
Read MoreAuto Insurance Access announces grand opening of its industry news and top quotes website
Auto Insurance Access (autoinsuranceaccess.com) has announced the grand opening of its new website that provides consumers with the latest news from the industry, helpful information, and the best quotes from the top insurers. One of the biggest struggles faced by consumers and businesses alike as they search for auto insurance, is making sure that they are informed about what is available to them and that they have the tools that they need to use their knowledge to choose the right coverage for their needs from among the various quality policies…
Read MoreDrivers in Michigan to see an average car insurance premiums increase of $30
The Michigan Catastrophic Claims Association (MCCA) has just announced that there will be an increase of $30 per vehicle to the auto insurance rates paid by drivers in the state starting on July 1, 2012, as per the new rate for 2012-13. This will raise the average premium by 21 percent, making it $175. Premiums undergo an annual adjustment in Michigan in order to cover the claims that are made under the state’s no-fault insurance law’s unlimited lifetime medical benefits. The results of the assessment are applied to each car…
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