Auto insurance fairness questioned by Consumer Federation of America

auto insurance premiums
Auto insurance data spat could lead...
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The CFA performed research on premiums calculations which revealed unexpected results. The Consumer Federation of America (CFA) has used the profiles of two hypothetical drivers in order to receive quotes for auto insurance coverage from a number of different insurers, only to discover that the prices they were issued were not at all what they had expected. The two profiles involved female drivers who were 30 years old and who had the same road experience. These two profiles also lived within the same ZIP code and were seeking to receive…

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Auto insurance rates may be higher for safe drivers

Auto Insurance rates for safe drivers

Safe drivers may be facing significantly higher auto insurance rates There are many factors that go into determine auto insurance rates. Driving history, place of residence, credit score, and age can all be used to determine the price of a policy for a particular individual. Those with good driving records, typically known as safe drivers, are often considered to be charged the absolute lowest auto insurance rates possible. This is not the case, according to the Consumer Federation of America. The consumer advocacy group has released a new study that…

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Advocacy group calls upon New York regulators to take action against force-placed insurance

force placed insurance

New York regulators urged to be examples in the fight against controversial insurance practice The Consumer Federation of America (CFA), a consumer advocacy group, has called upon New York insurance regulators to tackle the issue of force place insurance for homeowners. The New York Financial Services Department has been holding public hearings concerning a number of issues of importance in the state. During one of these hearings, CFA Insurance Director J. Robert Hunter petitioned insurance regulators to take a stand against the controversial practice of force-placed insurance and become national…

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