According to a 2009 study by the Insurance Research Council, 28 percent of those with auto insurance coverage reported shopping for lower rates when they normally would not have done so. It’s among the top five ways to reduce expenses, the others including cutting back on entertainment, vacation, appliances and preventive health care.
Allstate Corp. aims to topple State Farm Insurance Cos. as the country’s leading insurer of homes and autos within a decade.
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.
In a move that could get people finding alternative ways to commute, state legislation (.pdf) approved last year enabled auto insurance companies in California to offer discounted rates for drivers who don’t use their vehicles that much. Now, State Farm is the first company trying to take advantage it.
Oklahoma lawmakers are considering a plan to use cameras to catch people who are driving without auto insurance.
On average, the way we pay auto insurance isn’t exactly fair. We could be the best drivers on the road who drive the minimal amount every day, yet end up paying just as much as the speed demons around us simply because we happen to be the same age or gender. The use of M2M (machine-to-machine) technology, in the form of usage-based insurance, can do wonders for getting auto insurance rates on an even road.
Mercury Agents’ Declarations Confirm Government Findings of Discrimination; Company Didn’t Want to Insure Diabetics, Middle Eastern Drivers or Women Married to Younger Men: Mercury’s “Cougar” Clause
More of us are paying attention to the rules our credit card companies send us or the fine print on our mortgages. Here’s yet another financial ripple to watch for: Your credit score can affect what you pay for homeowners or auto insurance.
The California Department of Insurance (CDI) is reminding drivers that California offers an affordable insurance program so all qualified motorists can drive with confidence.
Auto insurance companies calculate premiums largely based on the risk and potential loss that an applicant poses. Unfortunately for younger motorists, the rates for a driver between the age of 16 and 25 are usually quite a bit higher than more mature drivers. While this may seem unfair, studies and statistics show that those less experienced behind the wheel account for a high number of traffic accidents which leads to increased premiums.