Tag: insurance rates

California Insurance Commissioner and Farmers CEO: A Groundbreaking Dialogue on the Insurance Crisis

Angela Linders
california insurance crisis a

California continues to struggle with a growing insurance crisis, as homeowners face towering premiums and the daunting task of securing coverage. Amidst this turmoil, insurers have retreated, leaving many Californians in a lurch. But in a recent twist, the path to resolution may hinge on a compromise that allows insurers to adjust rates based on future risk assessments. State Insurance Commissioner Ricardo Lara, spearheading new regulations to mitigate the crisis, likens his relationship with the insurance industry to a “forced marriage” — staying together for the larger family’s sake. This…

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Insuring Salvage Title Autos: Important Facts for Auto Owners

Loreen
auto insurance for salvage title

When a vehicle gets a salvage title, it means it’s seen better days, often due to significant damage or theft. This label affects everything from auto insurance to resale value, presenting a set of unique challenges and considerations for owners. Understanding the implications of a salvage title is crucial for anyone considering buying or insuring such a vehicle. Understanding What a Salvage Title Means A salvage title is assigned to a vehicle that has been deemed a total loss by insurance companies due to damage or theft. This designation occurs…

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Allstate Changes Down Payment After Insurance Settlement

Logan B.
allstate downpayment reinstated

Allstate, the insurance giant based in Northbrook, Illinois, has made a significant change to its down payment policy for new auto insurance policies. The move comes after a settlement with the California Department of Insurance regarding the insurer’s rate increase application. The Former Down Payment Restriction In July 2022, Allstate began requiring consumers to pay a 50% down payment on new auto policies. This policy represented a substantial upfront cost for consumers, given that the average annual cost for car insurance in California ranges from $1,500 to $1,999, according to…

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Home Security Systems Can Lower Home Insurance Rates!

Guest Author
home security system and insurance

The question that many homeowners ask is a fairly straightforward one: can home security systems lower home insurance policy rates? The answer to this question is both yes and no as there are a wide range of factors that determine policy rates. Common things such as the type of security system and even the service provider used all have a direct impact on how much you pay and how much you can save. As you can already see, insurance policies are hardly black and white! Having a working burglar alarm…

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How do warnings affect my car insurance rates?

Guest Author

Traffic warnings shouldn’t affect your car insurance, as they usually don’t go on your driving record. Any citation that appears on your driving record may have an impact on your insurance rate; however, getting a warning is just that – a warning and not a violation or citation. In this article, we will highlight everything you need to know about traffic warnings and how they affect your car insurance rates. Why do police officers give out warnings? Police officers are usually faced with a hard choice of either issuing a…

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