Task force takes on Louisiana auto insurance rates to improve affordability

Louisiana Auto Insurance Rates - Car - driving

Research shows that drivers in the state pay some of the highest car insurance premiums in the country. Louisiana auto insurance rates are among the least affordable in the United States, according to a recent Insurance Research Council (IRC) study. The study was titled: “Auto Insurance Affordability: Cost Drivers in Louisiana”. That said, the Louisiana High Auto Rates Task Force has been working on the challenge of improving affordability since August. The task force has met several times to address the causal factors and propose solutions to the issues. The…

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Automobile insurance study shows affordability improvements

Automobile Insurance affordability

The research determined that auto coverage has become more affordable for people at all levels of income. A recent study that was conducted by the Insurance Research Council (IRC) has determined that automobile insurance is becoming more affordable and that this trend has been maintained over the last ten years, particularly for individuals within the lower and middle income ranges in the United States. Every state except for six experienced improvements in their affordability from the 1990s to the 2000s. Among all of the states and the District of Columbia…

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No-fault Michigan auto insurance struggling with spike in claims expenses

According to a recent study performed by the Insurance Research Council (IRC), the no-fault system for Michigan auto insurance has experienced an increase of 192 percent in the average claimed losses for lost wages, medical expense, and other injury-related costs linked to vehicle accidents within the state, in a period from 2002 to 2001. The IRC study of auto injury insurance claims in no fault systems also demonstrated that within that same period of time, there was an average increase of 13 percent every year within that state. It identified…

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