A recent study commissioned by Reviews.com has found that millennials pay more for auto insurance than drivers of any other generation. The study analyzed 55 million sample rates spread across 34,000 ZIP codes in all 50 states and found that, on average, millennials pay $1,753 annually compared to the $1,395 paid annually by drivers of… Continue reading Study: Millennials Pay More for Auto Insurance than Any Other Generation
Tag: car 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
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
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
Avinew Raises $5M for Car Insurance that Rewards You for Using Autonomous Safety Features
As the deployment of autonomous vehicles ramps up globally, all sorts of prickly regulatory questions are cropping up. Which parties should be held responsible if a self-driving car swerves off course and kills a pedestrian — the driver, the automaker, or the systems supplier? And what kind of safeguards should be legislatively mandated to ensure… Continue reading Avinew Raises $5M for Car Insurance that Rewards You for Using Autonomous Safety Features
California Makes It Illegal to Charge More for Auto Insurance Based on Gender
California’s Insurance Commissioner Dave Jones issued a statement on Friday that as part of the Gender Non-Discrimination in Automobile Insurance Rating Regulation, insurers would no longer be allowed to use gender to calculate private auto insurance effective January 1, 2019. “My priority as Insurance Commissioner is to protect all California consumers, and these regulations ensure… Continue reading California Makes It Illegal to Charge More for Auto Insurance Based on Gender
Best’s Market Segment Report: U.S. Nonstandard Auto Market Starts to Show Signs of Improvement
AM Best is seeing initial signs that the private passenger nonstandard automobile segment is beginning to improve after years of unfavorable results, including continued premium growth in 2017 and through mid-year 2018. A new Best’s Market Segment Report, “Early Signs of Improvement in Nonstandard Auto Market,” states that the combined ratio for the population of… Continue reading Best’s Market Segment Report: U.S. Nonstandard Auto Market Starts to Show Signs of Improvement
Motor Vehicle Deaths Remain Stable in First Half of 2018
Preliminary estimates from the National Safety Council indicate the recent upward trend in motor vehicle deaths has continued its leveling off, with the number of fatalities in the first six months of 2018 dipping just slightly – less than 0.5 percent – from six-month 2017 estimates. Approximately 18,720 people died on U.S. roadways between January… Continue reading Motor Vehicle Deaths Remain Stable in First Half of 2018