Following a new equality regulation that prohibits insurers from using gender to help determine what a driver’s premiums will be, young female drivers may soon be paying more to compensate for the fact that being male can no longer be considered to be a risk factor. According to auto insurance brokers Adrian Flux, the new increased rates will begin as early as December 2012. It is at that time that insurance companies in the United Kingdom will no longer be able to benefit from an exemption that currently allows them…
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Does Progressive’s Snapshot program offer a true auto insurance discount?
Progressive has taken a new approach to car insurance, called the Snapshot program, that allows its policy holders to share their driving habit information for the opportunity to try to save money. According to the general manager of usage-based insurance at Progressive, Richard Hutchinson, the program is completely voluntary, so drivers who are not interested in taking part are not required to do so. Participating drivers have their cars fitted with a Snapshot transmitter device, which is compatible with most vehicles made in 1996 and afterward. The device monitors the…
Read MoreAgents concerned of GM free MetLife insurance offer
Independent insurance agents in the Pacific Northwest have been voicing their apprehension over a promotion made by General Motors that offers auto buyers in the area a year of free MetLife Auto & Home liability and damage coverage. In an effort to encourage more drivers in Washington and Oregon to purchase new GM vehicles, the auto manufacturer has announced that until September 6, when customers in those two states purchase a new 2010, 211, or 2012 car, crossover, or truck, they would also receive a free year of MetLife Home…
Read MoreNICB reveals top cities and states known for suspicious insurance claims
The National Insurance Crime Bureau (NICB) has released a report that has indicated that almost half of all of the suspicious property/casualty insurance claims made to insurance companies come from California, New York, Texas, Florida, and Michigan. In fact, those five states alone make up 49 percent of the total number of “questionable claims” in the entire country, according to the NICB’s calculations, as presented in the report. The NICB’s definition of a questionable claim is one that is passed on to the NICB by insurance companies who are members…
Read MoreNAIC survey reveals ways consumers have been saving money on car insurance
The National Association of Insurance Commissioners (NAIC) has released the results of a survey that determined the top ways that consumers have made lifestyle changes within the last year in order to save money with their car use to reduce their insurance fees. Over the last twelve months, 53 percent of Americans made this type of change with car insurance costs in mind. The insurance commissioners’ survey showed that the following changes were made by consumers: Among automobile owners, almost 20 percent exchanged their car for a less costly model…
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