Wisconsin drivers will be required to have auto insurance for their vehicles starting a week from Tuesday. The mandate was put into last year’s state budget, and it makes Wisconsin the second to last state to require auto coverage – leaving only New Hampshire as the lone holdout.
Oklahoma lawmakers are considering a plan to use cameras to catch people who are driving without auto insurance.
Over the past few years, auto insurance companies in the U.S. have paid out approximately six million claims related to accidents involving the popular hybrid Toyota Prius. You may remember that the vehicle was the subject of recalls because of an accelerator problem that caused the car to suddenly accelerate out of control. State Farm, Allstate and Geico as well as three other major insurance companies and a number of smaller ones are now going after Toyota Motors for the money they have paid out in claims to policyholders in connection with these accidents.
comScore, a leader in measuring the digital world, today released its 2010 U.S. Online Auto Insurance report, based on behavioral data from comScore’s 1 million person U.S. panel and a survey of more than 2,000 U.S. Internet users to understand attitudes and intentions with regard to conducting auto insurance transactions online. The report found that U.S. consumers submitted requests for 38.8 million online quotes in 2009 and purchased a record 2.8 million policies online during the year, each representing an increase of more than 20 percent versus the previous year, as consumers sought ways to save on auto insurance during the recession.
The State Auto Insurance Group has reached a significant milestone in its sales of personal lines insurance: one million policies and one billion dollars in premium.
State Auto offers auto, home and other personal lines insurance products in 33 states. The company has experienced considerable growth in Arizona, Colorado, Connecticut, Texas and Utah, where State Auto most recently began offering personal lines products.
Americans paid $1.241 trillion in premiums in 2008 - or $4,114 per person alive that year. About 47 percent went to life insurance, the rest to other types of coverage.
The Maryland legislature has rejected legislation that would have imposed an outright ban on the use of credit information in rating automobile insurance. Committees in both Houses of the Maryland legislature declined to report such legislation to the full chambers.
A proposed new regulation – known as the “anti-steering bill” for the auto insurance industry in Wisconsin has strong support from those in the business of repairing cars.
“Consumers should remain alert for an announcement of any recalls affecting their model,” Shaw said in his recent report on the issue. “There are many Internet sites where consumers can check if a recall has been issued for their vehicle.”
The median six-month auto insurance rate in Arizona has increased approximately two percent over the last six months to reach $829 according to InsWeb, a leading online insurance comparison provider.