Texas lawmakers are exploring a new approach to tackle the steep rise in auto insurance premiums. Senate Bill 1246, known as the “Auto Insurance Public Option Act,” aims to introduce a state-administered insurance option for all Texas residents.
Tag: auto insurance
Auto Insurance Rate Increases Slow in 2025 — but Premiums Still Hit a Record High
According to the newly released State of Auto Insurance in 2025 report by ValuePenguin.com, a LendingTree company, insurers are raising premiums by an average of 7.5% this year — a noticeable drop from the 16.5% jump in 2024.
Disparities in Rate Regulation for Personal Auto Insurance Has Negative Impacts
A new study from the Insurance Research Council (IRC) shows that the processes to achieve approved rate filings for personal auto insurance throughout the U.S. has become more cumbersome since 2010, negatively impacting market performance.
Study Reveals Challenges in Auto Insurance Rate Regulation
A recent study conducted by the Insurance Research Council (IRC) has revealed that regulatory processes for approving personal auto insurance rates have become significantly more burdensome since 2010.
Hurricanes Helene and Milton Push Auto Insurance Claims Sky-High
From flooded cars to crushed trucks, hurricanes Helene and Milton left a trail of destruction that’s now adding pressure to an already rising trend in auto insurance rates.
Car Insurance Price Increases Are Slowing, Offering Drivers a Break
According to the latest data from the Consumer Price Index (CPI), auto insurance inflation reached 16.3% year-over-year in September 2024, down from a peak of 22.6% in April.
Louisiana’s “Holistic” Plan to Address Sky-High Auto Insurance Rates
With Louisiana’s auto insurance rates among the highest in the country, LA Insurance Commissioner Tim Temple is taking a “holistic” approach to tackle this issue, but many obstacles remain.
Continued Confidence in Auto Insurers Despite Rate Hikes
In a climate where auto insurance premiums are steadily increasing, one might expect consumer trust in insurers to decline. However, a recent survey reveals a different story.
Consumer Trust in Auto Insurers Drops Amid Rising Premiums
A recent study by J.D. Power reveals an 11.2% increase in auto insurance premiums over the past year, driven by rising repair costs, medical expenses, and an uptick in total loss vehicles.
Trust Emerges as Top Driver of Customer Satisfaction with Auto Insurance as Prices Continue to Surge
With U.S. auto insurance rates up 11.2% on average during the past year—and insurers still losing an average of five cents on every dollar of premium they collect—sky-high premiums do not appear to be leveling off anytime soon.