Tag: car insurance premiums

Auto insurance costs fell only in California

H. Cutner
auto insurance price decrease california

According to data from the Consumer Federation of America, that is the only state where this occurred. According to the latest data from the United States, California is the only state in the country where auto insurance costs have been decreasing over the last two decades that ended in 2010. This data was collected and analyzed by a consumer group that attributed the decline to a state law. The Consumer Federation of America is attributed the decreasing cost of auto insurance in California to a law that was passed in…

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Auto insurance prices vary widely from one state to the next

H. Cutner
Auto Insurance discounts

The states that have the most and least expensive premiums have been revealed by a recent study. It is no mystery that where a driver lives will have a notable influence over what he or she will pay for auto insurance coverage, but a recent study has now identified the states that have the most and least expensive coverage, and there is a vast difference between them. Even with a perfect driving record, location of residence can play a tremendous role in what is paid. For instance, in Louisiana, drivers…

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Auto insurance customers in some cities pay more

Auto Insurance rates and prices

The five most expensive municipalities have been identified for drivers’ premiums. Owning and maintaining a vehicle can have a lot of cost associated with it, especially when you include the cost of auto insurance premiums and other upkeep and legally required expenses. Even good drivers can face higher premiums based on their location. A recent study has identified the leading five cities in which car ownership can be the most expensive as a result of the increased auto insurance costs. The results of this study were recently released to allow…

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Auto insurance premiums reduction sought by Consumer Watchdog

Julie Campbell
California Low Income Auto Insurance Program

The group claims the agency running the car policy program is seeking to charge $40 more than necessary. According to a Consumer Watchdog actuarial analysis, California drivers who are in the low income bracket and who maintain a good driving record should be paying 3.9 percent less on their car coverage premiums through the Low Cost Auto Insurance Program. The analysis was just submitted to the California Department of Insurance. The auto Insurance Commissioner in the state is now performing an annual review in order to decide whether or not…

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

Julie Campbell
usage based insurance auto

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…

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Auto insurance companies may face a revenue reduction of $15 following a rating error

Nordstrom

According to an error report published by Quality Planning, an estimated $15.4 billion in revenue was missed by the private passenger auto insurance industry in 2010 as a result of misinformation with policyholders. Quality Planning is an organization that provides data validation of policyholders for auto insurance companies. It produces its premium rating error report on an annual basis, quantifying the discrepancies and errors that can lead to the undercharging of policyholders by their auto insurance companies. Highlights of the report include the following: • When compared with 2008, the…

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