Live Insurance News

Auto and homeowners insurance rates grow in Ohio

July 24, 2015July 23, 2015 Marc

Homeowners insurance and vehicle protection are becoming more expensive in the state Auto and homeowners insurance premiums have increased in Ohio, according to an announcement from Lieutenant Governor Mary Taylor. While insurance rates have gone up in the state, they remain well below the national average, in terms of vehicle and property coverage. Insurers sought rate increases last year, many of which were approved by state regulators due to various issues that have placed insurance companies under greater financial strain. Higher rates may help insurers recover from the losses they…

Drivers may be able to save money on auto insurance coverage

July 24, 2015July 23, 2015 S.Vagus

Drivers could be missing out on opportunities to save money on their coverage Drivers in the United States may be missing out on auto insurance savings, according to a new study from InsuranceQuotes.com. The study shows that the average driver has not changes their auto insurance provider for 12 years, with more than a third of drivers never shopping for new insurance policies that may be less expensive. By seeking out new providers, drivers may be able to find better coverage at lower premiums. Loyalty may not be the best…

Self-driving cars could lead to lower auto insurance premiums

July 23, 2015July 22, 2015 Nordstrom

Insurance premiums could fall significantly due to automated vehicles Self-driving cars could help save motorists money on auto insurance coverage, according to insurance startup Metromile. The company has released a new report that suggests that drivers could save as much as $1,000 a year on coverage due to automated vehicles. These cars could cost as little as $250 a year to insure, and they may serve as a disruptive force for the auto insurance industry in the coming years. Self-driving cars are not subjected to human error in the same…

The average auto insurance customer hasn’t switched companies since 2003

July 22, 2015July 21, 2015 Julie Campbell

According to recent research, one in every three drivers has not shopped around at all for a policy. A recent study was conducted by insuranceQuotes.com, which has now issued its results in a report that showed that the average American driver hasn’t changed the auto insurance provider covering their vehicle in over a decade. In fact, the average length of time since the last change in insurance companies was 12 years, said the report. Furthermore, about one quarter of all drivers have been sticking with the same auto insurance company…

Massive insurance fraud scam involves 33 people crashing cars

July 21, 2015July 18, 2015 Julie Campbell

In Santa Clara County auto insurers were scammed by a huge number of their policyholders. According to the Office of the District Attorney in Santa Clara County, there were 33 people involved in a tremendous insurance fraud scam, as they deliberately crashed older cars into each other in order to be able to file claims. The insurance companies were the victims of an alleged scam that had them paying for the deliberate crashes. The majority of the defendants were from San Jose. Each of them has now been charged with…

Insurance news of hikes to minimums expected by taxi commission

July 21, 2015July 18, 2015 H. Cutner

The St. Louis Metropolitan Taxicab Commission predicts that the raise will be a sizeable one. A new statement that was released in a letter from the St. Louis Metropolitan Taxicab Commission has revealed the insurance news that they anticipate a rise in the minimum allowable coverage to “significantly increase.” The regulation change follows an accident in which the Techli CEO was badly injured, said the commission. The CEO of Techli, Edward Domain, was involved in an accident and was very hurt. Now, the insurance news that is resulting looks as…

Auto insurance rates continue to rise in Ontario

July 21, 2015July 18, 2015 Logan B.

Toronto Ontario Canada Auto Insurance News

Despite government efforts, premiums are on the rise in Ontario Auto insurance premiums in Ontario, Canada, continue to rise, despite promises being made by the government. In April of this year, the government had announced that insurance rates were down by 0.95% during the first quarter of the year, which is a far cry from the average 15% reduction that it had promised to achieve by next month. In Ontario, premiums continue to rise, and government action may not be enough to mitigate the issue. Several companies seek to raise…