Live Insurance News

Latest Consumer Behavior Trends in 2024 and Their Impact on the Insurance Industry

December 18, 2024December 17, 2024 G. Turner

How 2024’s Consumer Trends Are Redefining Insurance—Are You Keeping Up? Understanding shifts in consumer behavior trends is more critical than ever. With technology evolving and societal priorities changing, businesses must adapt to remain competitive. For industries like insurance, staying on top of these trends can unlock opportunities to connect with customers more meaningfully and effectively. From social commerce to sustainability, 2024 showcases powerful consumer trends that insurance companies can leverage to refine services and build stronger relationships with modern consumers. The Rise of Social Commerce – 26 Million TikTok Buyers…

The Hidden Costs of a DUI That Can Drain Your Wallet Over Time

December 12, 2024December 11, 2024 Ester Adams

Driving under the influence (DUI) isn’t just a legal problem—it’s a financial nightmare. What might start as a temporary lapse in judgment can leave a lasting impact on your wallet, particularly when factoring in long-term expenses such as rising insurance premiums. Across the United States, these costs vary significantly depending on your state, but no matter where you live, the hit to your finances is substantial. Here, we’ll break down how DUIs cause insurance costs to spike, highlight alarming DUI statistics during holidays, compare these expenses to alternative options like…

Insurance Giants Take Hyundai and Kia to Court Over Burning Cars

December 11, 2024December 9, 2024 John Bowers

Allstate Insurers File Lawsuit Against Hyundai and Kia Over Fire Risks – Lawsuit Details Allstate and its subsidiaries, including Esurance, National General, Integon, and Safe Auto, have filed a subrogation lawsuit in the U.S. District Court for the Central District of California against Hyundai and Kia. The insurance giants are seeking to recover costs paid to insured customers for damages related to alleged defects in the automakers’ vehicles that caused fires. According to the lawsuit, Hyundai and Kia knowingly failed to recall millions of vehicles equipped with potentially dangerous defects.…

State Farm 2025 California Auto Insurance Rate Hike Affecting Millions

December 10, 2024December 9, 2024 Angela Linders

State Farm, California’s largest auto insurer, has received approval to increase its auto insurance rates beginning in January 2025. This marks the second consecutive year of double-digit rate hikes for the company, following a 21% increase implemented earlier this year. The upcoming adjustment, averaging 17.7%, will affect approximately 4 million policyholders across the state. The increase aligns with broader trends in the auto insurance industry, both in California and nationwide, as companies grapple with rising claims, vehicle repair costs, and inflationary pressures. Factors Driving State Farm Auto Insurance Rate Hike…

Crash Stats You Need to Know and the Cars Helping to Reduce Them

December 6, 2024December 5, 2024 H. Cutner

Auto Safety Technologies at a Glance Advancements in automotive safety technologies over the last decade have significantly reshaped how we drive, offering greater protection for passengers, pedestrians, and other road users. These advanced features, collectively referred to as Advanced Driver Assistance Systems (ADAS), are not only improving safety outcomes but also influencing auto insurance rates. Here, we take a comprehensive look at some of the most impactful systems, the vehicles that incorporate them, and how these technologies are reducing fatalities, injuries, and crash risks. Automatic Emergency Braking (AEB) How It…

Should Insurers See Green Drivers as Safer Bets for the Future?

December 2, 2024December 1, 2024 G. Turner

Should Environmentally Responsible Car Owners Be Rewarded for Their Risk-Conscious Lifestyle? Driving a hydrogen fuel cell vehicle or an electric car (EV) often represents more than a transportation choice—it signals a lifestyle rooted in sustainability and personal responsibility. These vehicles promise reduced carbon emissions, improved air quality, and a shift away from reliance on fossil fuels. Yet, despite these benefits to society, owners often find themselves facing financial hurdles that seem at odds with their responsible decisions. Not only do these green drivers contend with additional registration fees that climb…

Tesla’s Safety Record Under Scrutiny Amid Rising Fatal Accident Rates

November 29, 2024November 29, 2024 Nordstrom

Recent research analyzing U.S. traffic data from 2018 to 2022 paints a concerning picture for Tesla vehicles on the road. The study, conducted by iSeeCars using National Highway Traffic Safety Administration (NHTSA) data, revealed that Tesla leads all automotive brands with a fatal accident rate of 5.6 per billion miles driven. This rate is double the U.S. national average of 2.8 fatalities per billion miles. The findings come as Tesla continues to advertise its vehicles as among the safest in the market, backed by Insurance Institute for Highway Safety (IIHS)…