Metromile partners with Ford for pay per mile insurance

Pay per mile insurance - Speedometer

The automaker is offering the coverage along with the sale of all its new connected cars. Ford is offering new car buyers an opportunity to use pay per mile insurance to safe money on their auto coverage. As millions of Americans have changed their driving habits and are working from home, there may be an opportunity to save on lower annual mileage. The automaker is offering the coverage through Metromile start-up auto insurance company. The partnership between Ford and Metromile may make it easier for drivers to access the pay…

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State Farm Ohio auto insurance rates to see 14.3 percent reduction

Ohio auto insurance rates - cars on road

Drivers in the state will be saving a total of $174.1 million per year from the decreased premiums. State Farm recently announced that it plans to implement another Ohio auto insurance rates reduction. It will slash premiums by an average of 14.3 percent, according to the statement issued on July 29. The impact of the COVID-19 pandemic was cited as the reason for the premiums cut. According to State Farm Insurance, “Driving behaviors across the country continue to evolve during the COVID-19 pandemic. Based on current trends, State Farm is…

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State Farm car insurance claims fall by as much as 50 percent in some states

State Farm car insurance - cars driving on road

The largest auto insurer in the country has been reducing its rates in response to the trend. State Farm car insurance rates have been reducing across the country due to the trends relating to the COVID-19 pandemic. Some of the insurer’s latest data has made it clear why it has been willing and able to make these reductions. Since the pandemic crisis began, the number of miles driven by Americans has plummeted. As a result, there have been far fewer State Farm car insurance claims, meaning the coverage is more…

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Another State Farm Louisiana auto insurance rate reduction ahead

Louisiana auto insurance rate - Cars on highway

The insurer has already slashed its rates earlier this year due to the reduced claims during the pandemic. More Louisiana auto insurance rate cuts are on their way from the largest car insurer in the state. The reason for the latest reduction in State Farm premiums is the same as the last. The pandemic lockdowns have taken many cars off the roads, shrinking claims rates. State Farm currently covers about one in every three private vehicles in the state. State Farm provides car insurance to almost one third of all…

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New Michigan auto insurance law to become effective next month

Michigan auto insurance law - Michigan license plate

The new regulations meant to lower prices for drivers in the state will become effective July 1. On Tuesday, June 23, 2020, the state Department of Insurance and Financial Services held a meeting to answer questions about the new Michigan auto insurance law. The meeting was meant to answer questions and provide more information about the regulations. The new Michigan auto insurance law was developed in the hopes of reducing the cost of the coverage. At the same time, it is meant to help keep up the highest options available…

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Progressive auto insurance premium growth slows due to COVID-19 crisis

Progressive auto insurance - Porsche car with break lights on

The pandemic hasn’t stopped the insurer from seeing a rise in its profitability. The short-term impact from the pandemic on Progressive auto insurance may turn out to be a rise in underwriting profitability while premium growth shrinks. S&P Global Market Intelligence conducted a monthly earnings report analysis on the insurer. The analysis revealed that Progressive auto insurance saw improvement in its personal vehicle combined ratio, but at the same time its premium growth was applying the brakes. That impact was recorded on both the month-to-month and year-over-year data for March…

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Michigan auto insurance to undergo substantial changes throughout 2020

Michigan auto insurance - Michigan license plate

High rates have been a source of contention in the state where drivers pay more than the rest of the country. High Michigan auto insurance rates and how to overcome them has been a controversial topic in the state for decades. In the second half of the year, premiums are likely to fall due to a number of changes in the state. This year, when policies renew on and after July 1, vehicle owners will see a change in those rates they’ve been complaining about for many years. According to…

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