State Farm auto insurance losses are higher than ever before

state farm auto insurance losses accident

The insurer lost more money on car policies throughout 2016 than it has in its almost century-long existence. State Farm auto insurance lost more money providing drivers with coverage in 2016 than they have in any other year since its creation 95 years ago. All told, the insurance company lost about $7 billion within the vehicle coverage segment of its business. State Farm auto insurance is by far the biggest vehicle insurer in the United States. It received $35.8 billion in claims and adjustment expenses in 2016. That total, in…

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Auto insurance premiums head skywards due to smartphone use

auto insurance premiums car mobile smartphone

The Washington Insurance Commissioner’s Office has blamed mobile device use for a 5.9 percent rate increase. Consumers wondering why they’re paying higher auto insurance premiums may not have to look any further than their smartphones. The Insurance Commissioner’s Office in Washington State said the top 20 insurance companies hiked rates by 5.9 percent last year. That said, the insurance rate for motorists has been on its way up across the country. Across the country, the average amount drivers are paying in auto insurance premiums reached $926 in 2016. Throughout the…

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Distracted driving from texting increases odds of crash by 23 times

Auto Insurance Texting While Driving

Writing or reading a text on a smartphone takes the eyes off the road for too long. The National Safety Council’s (NSC) statistics regarding distracted driving have shown that motorists who send and receive text messages while behind the wheel are 23 times more likely to be involved in a crash. These behaviors cause drivers to look away from the road too often or too long. When both eyes and attention are being taken off the road, the risk of making a mistake or not seeing a change in the…

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Governor Cuomo seeks higher penalties for drivers caught texting

Governor Andrew Cuomo of New York is seeking to crack down on drivers who text while behind the wheel, and to introduce tougher penalties for those who are caught.  On Friday, June 10, 2011, Cuomo proposed the introduction of a bill that addresses distracted driving.  This new bill would make this type of activity a primary offense, giving officers the right to pull over drivers who are caught typing on their mobile devices while the vehicle is in operation.  In New York, texting behind the wheel is still considered to…

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