According to data from the ABI, premiums for insuring a car increased by an average of 8 percent. In the final quarter of last year, auto insurance premiums in the United Kingdom increased by an estimated 7 percent, when compared to the rates that had been charged to customers during the previous quarter. Throughout all 2015, it is estimated that the increase in car insurance premiums in the U.K. was 8 percent. The increase in auto insurance increases had a great deal to do with a premiums tax that has…
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Michigan auto insurance comes with the highest premiums in the country
According to a recent report, drivers in this state are paying far more than those in the rest of the U.S. Drivers in Michigan are not necessarily surprised at the results of an auto insurance data analysis that were recently published by insuranceQuotes.com which revealed that those motorists are the ones paying the highest premiums for their coverage. The state has a history of far more expensive car insurance than the average for the rest of the country. According to the statistics released by the firm, drivers in Michigan are…
Read MoreNew Jersey auto insurance is once again found to be most expensive
A report has shown that for yet another year, N.J. drivers are paying the highest premiums for coverage. The results of the annual National Association of Insurance Commissioners (NAIC) study on the cost of auto insurance has now revealed, once more, that the average driver in New Jersey is paying more than motorists in any other state in the country. The average amount that drivers paid for their policies in 2012 was an annual $1,220, higher than any other state. This represents the third year in a row that drivers…
Read MoreAuto insurance, repairs, and gas considered to rank states for cost of vehicle ownership
The recent Bankrate.com study showed that Wyoming is the most expensive state, while Iowa is the cheapest. A new report has now been issued by Bankrate.com that has shown that when factors such as the annual cost of auto insurance, repairs, and gasoline are taken into account, the most expensive state in the country to own a vehicle is Wyoming. At the other end of the scale, it is Iowa in which it is the least expensive to own and drive a car. When looking at the average costs of…
Read MoreAuto insurance premiums calculations are under the microscope
Insurers and industry groups are seeking to lower rates through the better use of available data. According to the research conducted by consumer groups, the factors that are being used to calculate auto insurance are being used unfairly for that practice, as issues unrelated to driving risk are being given far too much weight. These factors go far beyond the obvious points such as speeding tickets and car accidents. The New York Public Interest Research Group and the Consumer Federation of America have both issued their own separate reports that…
Read MoreMichigan auto insurance push for no fault reform has returned
The House Republicans in the state are trying again after having been unsuccessful last year. House Republicans are bringing their Michigan auto insurance reform push right back into the spotlight again, after having failed to obtain adequate support for the massive overhaul that they had proposed in 2013. The new goal is to eliminate the unlimited lifetime benefits that are currently available in the state. At the moment, Michigan auto insurance law makes it possible for individuals who are catastrophically injured in vehicle accidents to continue to receive benefits for…
Read MoreAuto insurance prices in U.K. continue to drop
According to the A.B.I., the average amount paid to cover a vehicle is still on its way downward. The cost associated with purchasing and owning auto insurance in the United Kingdom has dropped another 9 percent over the last year as a growing number of consumers are using the resources available to them over the internet to be able to comparison shop and find better rates. This, according to a survey which also credits fewer claims into the dropping premiums. The data was provided by the Association of British Insurers…
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