Live Insurance News

Auto insurance premiums to rise in the UK

August 13, 2015August 13, 2015 Logan B.

Esure announces that it intends to raise insurance premiums Esure, a prominent auto insurance provider in the United Kingdom, has warned its customers that it intends to raise premiums for the policies it provides. The company is citing the growing number of personal injury claims as the reason behind the rate increase. Esure has generated more than $3 million in auto insurance underwriting profits from January to June this year. This is a 80% decrease in the profits the company say over the same period last year. Insurer highlights the…

Commercial insurance rates are dropping in the United States

August 5, 2015August 4, 2015 S.Vagus

Report highlights the falling premiums in the commercial insurance sector Commercial insurance rates have continued to drop for the second quarter of this year, according to a report from the Council of Insurance Agents & Brokers. The report is released every quarter and shows that premiums have continued to fall by an average of 3.3%, with large accounts seeing a decrease of 5.2%. Some sectors have seen an increase in premiums, however, such as the flood, commercial auto, and cyber liability sectors. Cyber liability is growing in popularity Commercial property,…

Auto insurance companies have their eye on automotive vehicle redesigns

August 3, 2015July 31, 2015 Julie Campbell

As more cars and trucks have steel panels replaced by aluminum, this could raise claim payouts. The automotive industry has been making changes to the design of many cars and trucks, removing their steel body panels in favor of aluminum ones, which has auto insurance companies feeling a bit jittery about how claims will look in the not-too-distant future. This considerable redesign to the construction of vehicles brings uncertainty to the insurance industry. This is not the first time that an aluminum bodied vehicle has rolled its way off the…

Credit history may have a major impact on auto insurance premiums

August 3, 2015July 31, 2015 S.Vagus

Survey shows that credit history is playing a major role in the cost of insurance coverage Consumer Reports has released the results of a recent survey run in the United Stated concerning auto insurance quotes. The survey shows that credit history plays a major role in how much insurance coverage will cost drivers. Credit history may, in fact, have a larger influence on premiums than a person’s driving record, according to the survey. Consumer Reports’ Margot Gilman suggests that this is the case in many states, where poor credit history…

Allstate Insurance survey finds drivers’ greatest fear

July 31, 2015July 30, 2015 Julie Campbell

According to a survey of motorists, they are most afraid of having their car break down and having to wait for help. The roadside services program from Allstate Insurance recently conducted a survey of drivers and found that their greatest fear is to experience a breakdown that causes them to have to wait at the side of the road for help to arrive. Being stranded in an unfamiliar area causes the highest amount of anxiety among drivers. The Allstate Roadside Services research determined that among the motorists who participated in…

Canadian Uber drivers may need to check their auto insurance policies

July 31, 2015July 30, 2015 S.Vagus

layoff employment Insurance Industry - Alberta, Canada

Insurance Bureau of Canada wants Uber drivers to make sure they are properly insured The Insurance Bureau of Canada is advising drivers that work for ride-share company Uber to check their auto insurance policies. The agency suggests that drivers should ensure that their insurance policies provide coverage for their vehicles that are being used for commercial purposes. In most cases, however, conventional policies do not provide commercial coverage for most drivers, as these policies only provide coverage for vehicles being used for personal purposes. As such, they may be exposed…

Detroit drivers struggle under high auto insurance premiums

July 27, 2015July 24, 2015 S.Vagus

Auto insurance premiums in Detroit continue to be a burden for consumers Drivers in Detroit, Michigan, are struggling to afford auto insurance coverage. The city is home to the highest premiums in the country, which can be up to $5,000 a year for coverage in some parts of the city. Because auto insurance coverage is so high, nearly half of the city’s drivers are “driving dirty,” which involves operating their vehicles without any insurance coverage whatsoever. In order to combat this problem, Mayor Mike Duggan aims to address the high…