The last decade of seemingly non-stop direct-to-consumer advertising and heavy investment into digital self-service technologies have driven roughly one-fourth of auto insurance customers to adopt direct distribution models that bypass agents in favor of do-it-yourself tools. According to the J.D. Power 2019 U.S. Auto Insurance Study,SM that transition has helped overall customer satisfaction with auto… Continue reading Auto Insurance Satisfaction Surges as Customers Adopt Direct-to-Consumer Models, J.D. Power Finds
Tag: auto insurance
Wells Fargo to Pay Customers $386 Million Over Unwanted Auto Insurance
Wells Fargo & Co will pay at least $386 million to settle class-action claims by customers who said the bank signed them up for auto insurance they did not want or need when they took out car loans. The settlement was disclosed in filings on Thursday with the U.S. District Court in Santa Ana, California,… Continue reading Wells Fargo to Pay Customers $386 Million Over Unwanted Auto Insurance
Michigan Governor Signs Auto Insurance Bill into Law
On an Mackinac Island where no cars are allowed, Gov. Gretchen Whitmer signed a bill into law Thursday that will make significant changes to Michigan’s no-fault auto insurance system. Surrounded by Republican and Democratic lawmakers and Detroit Mayor Mike Duggan, Whitmer said the bill signing signaled a newfound partnership that will help forge new agreements… Continue reading Michigan Governor Signs Auto Insurance Bill into Law
CA Appeals Court: Mercury Insurance Must Pay $27.5M in Fines
A state appeals court reinstated $27.5 million in state penalties against Mercury Insurance Co. on Tuesday for charging illegal broker fees in more than 180,000 transactions with auto insurance customers from 1999 to 2004. The fines, imposed by the state Department of Insurance in 2015, were overturned in 2016 by a judge in Orange County,… Continue reading CA Appeals Court: Mercury Insurance Must Pay $27.5M in Fines
Tesla Plans to Sell Owners Cheaper Car Insurance
Tesla Inc. is creating its own branded insurance program, a move the electric-car maker believes will enable it to offer a lower-cost product to drivers. Tesla Chief Executive Elon Musk has been working with a unit of Virginia-based Markel Corp. and another company, which hasn’t been named, to offer the branded insurance, according to Markel… Continue reading Tesla Plans to Sell Owners Cheaper Car Insurance
Direct and Independent Agent Sales Channels Become Ground Zero in Auto Insurers’ Battle to Win New Customers
With just 2-3% of new customers entering the personal lines auto insurance market each year, insurers have only one option when it comes to growing their business: taking market share from competitors. According to the J.D. Power 2019 U.S. Insurance Shopping Study, success in driving new customer acquisition comes down to having a strong brand… Continue reading Direct and Independent Agent Sales Channels Become Ground Zero in Auto Insurers’ Battle to Win New Customers
New Report Ranks Michigan as Most Expensive State for Car Insurance
Insure.com, a comprehensive resource for insurance information, today released its annual ranking of the most and least expensive states for car insurance. For the sixth year in a row, Michigan took the top spot as the most expensive state to insure a vehicle, with a policy average of $2,611, almost 80 percent higher than the… Continue reading New Report Ranks Michigan as Most Expensive State for Car Insurance
Almost Three Quarters of Drivers Take Photos of Emergency Vehicles
Sixty percent of drivers passing an emergency vehicle on the side of the road will post a photo or video to social media while they are behind the wheel. A survey detailing this deadly statistic and or distracted driving habits was recently released as a joint effort by the National Safety Council and the Emergency… Continue reading Almost Three Quarters of Drivers Take Photos of Emergency Vehicles
Nationwide CEO Steve Rasmussen to Retire
Steve Rasmussen is stepping down after 45 years of insuring homes, cars and businesses and helping people plan for retirement. The Nationwide CEO announced Thursday his plans to retire on Oct. 1, saying it is a good time for him to go. “Right now we’re at a very good place in the organization. I feel… Continue reading Nationwide CEO Steve Rasmussen to Retire
American Family Acquiring Ameriprise Auto & Home for About $1 Billion
The Madison parent company of American Family Insurance said Tuesday it is buying Ameriprise Auto & Home, a De Pere-based property-and-casualty insurer, for about $1 billion. American Family Insurance Mutual Holding Co. said the acquisition adds customers, diversifies risk and gets the company deeper into the California market. Ameriprise Auto & Home is a business… Continue reading American Family Acquiring Ameriprise Auto & Home for About $1 Billion