Live Insurance News

Florida has second most expensive auto insurance in the country

May 16, 2022May 13, 2022 Marc

Drivers in the state spend a larger portion of their income on coverage than most other Americans. Florida auto insurance customers are paying more for their car coverage than nearly any other drivers in the United States. To keep their coverage, Floridian motorists must send more of their paychecks to pay their premiums. This, according to the data published in a new Bankrate.com report, suggests that Sunshine State residents are paying more of their income for their auto insurance than other drivers across the country. In fact, an average of…

Auto insurance rates will rise in 2022, regardless of COVID-19

January 11, 2022January 10, 2022 H. Cutner

No matter what the pandemic decides to do this year, drivers will be paying more than in 2021. Auto insurance rates were broadly discounted, refunded and otherwise reduced over the last couple of years, starting in 2020 when the pandemic began and sent employees home to work remotely or, in less fortunate cases to be furloughed or laid off. The lack of drivers on roads meant that the risk of crashes decreased, reducing the cost to insure vehicles. As it became clear that it was less costly to insure people’s…

Millennials pay higher car insurance rates when they live with their parents

November 26, 2018January 23, 2019 G. Turner

Auto insurance companies consider them to be a higher risk than those living on their own. Millennial motorists who still live at home with their parents pay higher car insurance rates than their counterparts who don’t, say the results of a new study. Millennials who own houses or condos tend to pay notably less for their auto insurance coverage. The higher car insurance premiums study was conducted by Compare.com. It determined that millennials who live with their parents pay considerably higher car insurance premiums than their home owning counterparts. In…