Live Insurance News

Auto insurance pricing “scheme” warning issued by Consumer Federation

September 10, 2014September 10, 2014 G. Turner

A leading consumer advocate is cautioning Americans regarding the importance of shopping around. Many American drivers have held a policy with the same auto insurance company for many years and while they know that they would likely be able to save a little bit on premiums by shopping around, they often remain loyal to the same company for one reason or another. The Consumer Federation of America has warned that there is a high price that can come with loyalty. According to the alert that was recently issued by the…

Auto insurance rates may be higher for safe drivers

January 31, 2013April 13, 2014 H. Cutner

Safe drivers may be facing significantly higher auto insurance rates There are many factors that go into determine auto insurance rates. Driving history, place of residence, credit score, and age can all be used to determine the price of a policy for a particular individual. Those with good driving records, typically known as safe drivers, are often considered to be charged the absolute lowest auto insurance rates possible. This is not the case, according to the Consumer Federation of America. The consumer advocacy group has released a new study that…

Progressive brings a new take on auto insurance and savings

January 1, 2013January 1, 2013 Nordstrom

Progressive continues to generate hype for its Snapshot device Progressive Insurance has been making waves in the world of insurance news with its in-car device that helps calculate the cost of auto insurance policies. In 2011, Progressive introduce an ambitious new auto insurance scheme that provided drivers with a way to save money on their coverage by providing the company with detailed data concerning their vehicles and driving habits. This is accomplished through a device called Snapshot, which can be installed in any vehicle manufactured after the year 1996. Device…

Auto insurance rates in California show major disparity

November 15, 2012November 14, 2012 Marc

Analysis highlights disparity in auto insurance prices Auto insurance in California has been in a turbulent state for the past several months. Last week, the 2012 presidential campaign came to an end, also marking the end of an auto insurance reform bill that had won a great deal of support from the auto insurance industry. The bill was steeped in controversy, but was expected to bring some benefits to consumers in the state and help alleviate some of the problems that exist in the insurance market. A new analysis of…

Auto insurance pricing model from Autodata Middle East selected by Zurich

October 24, 2012October 22, 2012 H. Cutner

The dynamic new techniques are now the center of a new agreement that has been signed. Zurich, one of the leading insurers in the world, has announced that it has signed an agreement with Autodata Middle East – a leading auto insurance pricing information provider – in order to help to determine a used vehicle’s actual value in the United Arab Emirates, to achieve far more accurate premiums calculations. The new model takes many additional factors into account to help maintain accuracy. The price of used vehicles change on a…

Auto insurance takes many non-driving factors into account when calculating premiums

October 7, 2012October 6, 2012 Julie Campbell

Rates are determined by many things, not all of which occur behind the wheel. Auto insurance companies take many different factors into account when they calculate the premiums that will be paid every month by their policyholders, but not all of them have to do with driving. There are many additional elements such as occupation, education, and ZIP codes that can also be included. A consumer group is now taking action against some of these behaviors by asking New York insurance commissioners to limit the ability of insures to apply…

Auto insurance pricing draws ire of consumer advocacy group

October 1, 2012October 1, 2012 Marc

Survey shows consumers believe auto insurance pricing is unfair The Consumer Federation of America, a consumer advocacy group, has released the results of a survey it conducted last week concerning how people feel about their auto insurance coverage. The group suggests that, according to the survey, many consumers feel that they are facing unfair pricing practices concerning their auto insurance coverage. These consumers claim that their policies are being prices based on information concerning their occupation, education level, and marital status. Group finds that certain factors hold significant influence over…