Tag: insurance rates

Auto Theft in Michigan Breaks Records—The New Plan to Reverse the Trend

Marc
Auto Theft in Michigan breaks records

Michigan Strengthens Fight Against Auto Theft with Expanded Task Force Michigan is taking a decisive stand against the surge in auto theft, transforming its Auto Insurance Fraud Unit into the newly-expanded Auto Fraud Task Force (AFTF). Spearheaded by Michigan Attorney General Dana Nessel, this initiative comes in response to alarming state-wide trends in vehicle theft, which have risen by 48.4% over the last five years. Auto Theft in Michigan Reaches Record Numbers Residents across Michigan have felt the effects of climbing auto theft rates. Recent data reveals that the number…

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What Happens If You Ignore a Car Recall? The Shocking Truth About Insurance Claims

Angela Linders
Car Recall

The Hidden Costs of Ignoring Car Recalls on Your Insurance and Safety Car recalls are issued for a good reason. Whether it’s a minor defect or a severe safety issue, automakers rely on recalls to fix potentially hazardous problems in vehicles they’ve manufactured. But what happens when you ignore a recall notice? Beyond the obvious safety concerns, overlooked recalls can come with costly consequences, including legal troubles, rising insurance rates, claim denials, and out-of-pocket expenses. Let’s explore these impacts in-depth and how you can proactively address recalls to safeguard your…

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Cybertruck Confusion: GEICO’s Insurance Denial and Safety Debates Explained

Logan B.
Cybertruck 78

Tesla Cybertruck: Navigating Insurance, Safety, and Customer Perspectives The Tesla Cybertruck has been making waves in the automotive world, not just for its futuristic design and electric capabilities but also for the discussions surrounding its insurance, safety, and user experiences. Recent news involving GEICO’s stance on insuring the Cybertruck has added another layer to the ongoing conversation. GEICO’s Denial of Insurance Claims In a recent turn of events, GEICO, one of the largest car insurance providers, was rumored to have stopped underwriting Tesla Cybertruck policies. This claim originated from a…

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Auto Insurance Rates Surge Amid Economic Pressures

Ben Jones
Auto Insurance Rates Surge Amid Economic Pressures

A Closer Look at the Rising Costs of Motor Vehicle Insurance in the US Motor vehicle insurance, a non-negotiable requirement for drivers across the U.S., has seen a significant surge in costs since 2020. This auto insurance rate increase has been driven by a confluence of economic factors, including inflation and rising repair costs. Between June 2023 and 2024 alone, personal motor vehicle insurance rates rose by an eye-watering 19.5%. A Rapid Rise Outpacing General Inflation The Consumer Price Index (CPI) data from May 2024 reveals that the motor vehicle…

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Who’s Responsible? California Faces New Rate Hikes from State Farm and Allstate

Nordstrom
State Farm and Allstate Buildings - Who is causing high rates in California

California homeowners and renters may soon face significant financial strain as two of the state’s largest insurers, State Farm and Allstate, announce hefty rate hikes. These increases come against a backdrop of escalating climate change impacts and urban expansion into wildfire-prone areas. Significant Increases from Major Insurers State Farm, the largest home insurer in California, has applied for substantial rate hikes across its various insurance lines. The company, which insures nearly one in five homes in the state, has requested a 30% increase for homeowners insurance, a 52% increase for…

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North Carolina property owners to see dwelling insurance rate spike by 8 percent

G. Turner
Dwelling Insurance - North Carolina - 8 percent increase

Commissioner Mike Causey announced the average rate increase across the state. North Carolina Insurance Commissioner Mike Causey has announced that following negotiations with the dwelling insurance market, there will be an average 8 percent rate increase across the state. The increase is substantially lower than what was requested The North Carolina Rate Bureau had been seeking an average increase to dwelling insurance rates of 50.6 percent.  That means that following negotiations, it was reduced by 42.6 percent to arrive at the average that will be implemented in the state. This…

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North Dakota launches auto insurance cost comparison tool

H. Cutner
Auto Insurance - Car - Calculator - Cost Comparison - North Dakota

The state’s Insurance Department has released its annual survey results comparing prices North Dakota’s Insurance Department has released the results of its annual auto insurance cost comparison, as well as a helpful tool to help drivers in the state to find the coverage they need at the right price. The survey involved obtaining quotes for six-month policies The department obtained quotes from auto insurance companies in the state for 12 different hypothetical drivers seeking six-month policies. The purpose of the survey was to better understand how premiums vary among motorists…

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