Tag: Auto Insurance

November 21, 2023

In February, Mark Bova purchased a used 2018 Tesla Model S. Before leaving the dealer, he bought insurance from Tesla, finding the initial $93 monthly premium “really reasonable.” Sixteen days later, as he drove along the Capital Beltway to his […]

October 30, 2023

South Carolina in 2022 saw a record number of complaints about insurance fraud, and has almost matched the number through the first 10 months of this year. And some state lawmakers are now looking into the reasons for the increase. […]

June 14, 2023

About one third of auto insurance customers in the U.S. reported a rate increase in the past year, leading to a growing number moving to usage-based insurance (UBI). This has led to the largest decline in customer satisfaction in 20 […]

May 19, 2023

Drivers are kicking the tires and trading up for new auto insurance policies. In the first quarter, new policy growth rate was up 17% over the same period in 2022, and a record-breaking shopping growth rate was up 10.2% compared […]

December 14, 2022

Most small SUVs flunked the latest frontal crash tests done by the insurance industry, but oddly enough, they’re just as safe as they were before. That’s because the Insurance Institute for Highway Safety updated the test so it places more […]

July 27, 2022

The Pennsylvania Supreme Court has agreed to consider a case that could limit application of the “regular use exclusion” in auto insurance policies. The state’s high court has agreed to review a Superior Court ruling that the regular use exclusion […]

June 30, 2022

Vincent Labarbera, of Vancouver, Wash., has been added to Insurance Commissioner Mike Kreidler’s most wanted after he failed to appear in Clark County Superior Court to face felony charges of filing a false insurance claim and attempted first degree theft. […]

May 18, 2022

For more than six weeks now, the tech and finance industry has been riveted by Elon Musk’s pursuit of Twitter. The topic has sucked up tons of oxygen and contributed to Tesla shares sagging amid a broader market rout and […]

April 6, 2022

South Carolina authorities have charged 17 people in what’s being called a major insurance fraud ring that staged vehicle collisions and filed false claims over a one-year period. The alleged fraud took place from August 2020 through October 2021 and […]

February 2, 2021

Auto insurer Metromile has attracted $50 million in new investment from a former Uber executive even as it has obtained regulatory approval to formalize a reverse merger deal that will make it a publicly-traded company. Ryan Graves, Uber’s former senior […]

November 18, 2020

General Motors (GM) – Get Report on Wednesday unveiled a new digital auto insurance platform, OnStar Insurance. A new insurance agency, OnStar Insurance Services, will be the exclusive agent for OnStar Insurance. GM customers who subscribe to the OnStar vehicle-safety […]

June 25, 2020

You expect your car insurance rates to increase after you buy a new vehicle, cause a crash or add a young driver to your policy. But some insurers jack up prices based on seemingly unrelated data — like your magazine […]

May 19, 2020

This year began with auto insurance buyers shopping around more than ever but by mid-March shopping began to slow down before returning to normal a few weeks later. According to the data firm LexisNexis, shopping has closely mirrored other pandemic […]

April 17, 2020

NYCM Insurance will be issuing a credit to its approximately 230,000 auto policyholders. All auto policyholders as of April 30, 2020, will receive a 15% credit back from their April and May premiums. Customers will not need to do anything […]

March 30, 2020

Connecticut Insurance Department Commissioner Andrew N. Mais has called on insurers to immediately institute an extension of coverage for personal delivery drivers in light of the disruption caused by the COVID-19 pandemic. “The emergency social distancing and closing of restaurants […]

September 4, 2019

A new state program in Maryland will help eligible residents reduce their outstanding uninsured auto fines, eliminating a hurdle to registering and insuring their vehicles. FineFix is a partnership between the Uninsured Division of Maryland Auto Insurance and the Maryland […]

August 27, 2019

U.S. property/casualty insurers continue to face substantial underwriting losses on commercial automobile insurance and, following a statutory combined ratio of 108% in 2018, the segment is poised for a ninth consecutive year of underwriting losses in 2019, according to Fitch […]

June 20, 2019

U.S. auto insurance consumers are quite happy about their coverage, and a growing shift to direct-to-consumer models has driven much of their good feelings. In a new report, J.D. Power says overall customer satisfaction with carriers rose in 2019 to […]

May 14, 2019

California Insurance Commissioner Ricardo Lara plans to hold an investigatory hearing into how insurers’ use of occupational, educational, and other groups for setting automobile insurance rates affects insurance premiums for lower-income Californians. The hearing is set for Sept. 17 at […]

April 4, 2019

A.M. Best maintains its negative outlook for the U.S. commercial auto insurance market even though its analysts believe it should improve somewhat in 2019. That forecast stems from commercial auto insurers having taken steps to address their most problematic exposures, […]