uninsured motorist coverage Archives

Higher Coverage, Higher Costs? Massachusetts Rolls Out New Auto Insurance Law

January 15, 2025January 15, 2025 Ben Jones

Massachusetts to Raise Minimum Auto Insurance Coverage Limits by July 2025 Massachusetts is set to implement significant changes to its mandatory auto insurance coverage requirements starting July 1, 2025. Governor Maura Healey recently signed legislation increasing the minimum insurance coverage limits, aligning with a growing trend across the United States. These updates aim to improve financial protection for drivers while minimizing the risk of policyholders facing inadequate coverage after an accident. Below, we examine the rationale behind the changes, statistics on how often claims exceed policy limits, and national shifts…

Umbrella Insurance Policies: A Vital Shield Against Unexpected Liabilities

December 26, 2024December 25, 2024 Live Insurance News

The world today presents individuals and businesses with increasingly complex risks. From auto accidents to home liabilities and even social situations, the potential for significant financial disruption looms large. That’s where umbrella insurance policies come in, offering vital supplemental coverage for situations that exceed the limits of standard insurance policies. The Rising Cost of Liability and Broadening Risks Over the past decade, demand for umbrella insurance has grown substantially, driven by escalating claims and payouts. According to Safeco Insurance, umbrella claims doubled from 2010 to 2020, with payouts surging by…

Florida’s Uninsured Drivers Crisis: A Dangerous Road Ahead

March 1, 2024February 29, 2024 Loreen

The winding roads of Florida are becoming increasingly perilous not just because of the usual hazards, but due to a financial predicament that is putting more drivers at risk. The number of uninsured drivers in the Sunshine State is soaring. Recent data reveals that insurance affordability is becoming a significant roadblock, leading many to hit the roads unprotected. The Escalating Challenge of Uninsured Motorists Florida’s Dilemma: Costly Coverage Drives Uninsured Rates Up According to the Insurance Information Institute (Triple-I), between 16 to 20% of Florida’s motorists are skipping out on…

Why Snowmobile Insurance is Essential for President’s Day Weekend

February 14, 2024February 14, 2024 Loreen

President’s Day weekend sees a surge in snowmobiling, making insurance crucial before hitting the trails. Understanding snowmobile insurance costs and coverage can protect you from unexpected expenses. Factors like your snowmobile’s make and model, your age, driving record, and location influence your premium. Knowing these details not only prepares you financially but also ensures a safe and enjoyable ride. So, gear up for this President’s Day weekend with the right insurance coverage. Factors Influencing Insurance Premiums The cost of snowmobile insurance is influenced by a range of factors similar to…

Auto Insurance Add-Ons That Are Actually Worth the Extra Money

July 20, 2013April 21, 2014 Guest Author

When it comes to deciding on auto insurance for your vehicle it’s important to thoroughly consider each policy type before jumping to make a decision. Insurance premiums can be a big chunk of change out of your bank account each month, but unfortunately, car accidents are an everyday occurrence around the world, and getting caught without coverage can mean big trouble. You definitely don’t want to cut corners when it comes to making sure you have all of the insurance you need. Even if certain add-ons are going to cost…