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.
Tag: auto insurance
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.
Auto-Owners to Sue Michigan Over No-fault Auto Insurance Court Ruling
Auto-Owners Insurance is preparing to sue the state of Michigan over the state’s insistence on the continued enforcement of parts of the 2019 no-fault auto insurance reform to drivers who were injured before the passage of the law.
NC to Have the Highest Basic Auto Insurance Requirements in the Country
Starting in 2025, North Carolina will have the strictest minimum liability coverage requirements in the country.
Auto Insurer Websites and Apps Become Primary Driver of New Customers, Putting Pressure on Digital Experience, J.D. Power Finds
With auto insurance rates higher than ever and more consumers in the market shopping for policies than ever before, digital channels have become a critical component to the overall auto insurance shopping and service experience.
P/C Industry 2023 Underwriting Performance Improved, but Personal Lines Continues to Drag
The U.S. property/casualty industry saw its second consecutive year of underwriting losses, with a net combined ratio of 101.6 for 2023. While improved relative to 2022, personal lines remained the major driver of unprofitability in 2023.