Like most other goods and services, inflation can also increase the cost of insurance. Insurance and inflation When determining insurance premiums, insurance companies look at a variety of factors including industry trends like number of claims and costs to repair vehicles and homes. If those costs increase, the price of insurance premiums will likely increase […]
8 reasons auto insurance rates are rising
Odds are your auto insurance premium dropped in 2020 due to stay-at-home orders. There were fewer drivers on the road, which meant fewer accidents and fewer claims. Some insurance companies, including USAA, refunded a percentage of their members’ premiums. And now as some people are returning to their offices and society starts to get more […]
Why Home and Auto Insurance Rates Are Rising in 2022
Why home and auto insurance rates are rising in 2022 Thanks to an unusual convergence of market trends, ushered in by the pandemic and other disruptive events, you may see a bigger change to the cost of your home and auto insurance than usual when it comes time to renew your policies this year. Insurance […]
Auto insurance rates are increasing in 2022. Here’s how to prepare.
Like nearly every purchase consumers make right now, the average cost of car insurance will probably rise for many drivers throughout 2022. Nationally, car insurance rates are increasing by an average of 4.9 percent, according to approved rate filing data from S&P Global Market Intelligence. These rate changes stand to affect more than 62.5 million policyholders across […]
Important Insurance for Young People
Life comes at you fast. Insurance helps. You’re young. You’re healthy. You know insurance is important — but it can also be expensive. Plus there are many different kinds. There’s health insurance, of course. But there’s also vision insurance and dental insurance. There’s car insurance and renters insurance, too. Are all of them really necessary? And […]
How Telematics Can Mitigate Personal Auto Hard Market Pricing
Tell me if you’ve heard this one before: The insurance market is hardening. Policy rates are going up and independent insurance agents need to help personal lines clients manage those impending increases. However, the story has changed in recent years—through telematics. Some independent insurance agents may be skeptical. That’s to be expected. Many have been hesitant […]
Can I Get Auto Insurance with a Foreign License?
With so many people from around the world living in the U.S., it is natural to wonder and ask, “Can I get auto insurance with a foreign license?” The short answer is that you can, but you may not be able to from every insurance company. We’ll walk you through what you need to get […]
What Are the Main Factors That Influence Car Insurance Premiums?
Insurance companies analyze a vast number of factors to determine the premiums paid by their customers. Some of these factors can be improved by the policyholders, while no one can improve other policy determining factors. The following top factors can have a significant impact on the premium paid by a policyholder: Demographic data. The driver’s age, […]
What Is Gap Insurance and How Does It Work?
If you drive a new car off the dealer’s lot, having made your deposit and looking forward to your first payment, but wind up in an accident that makes the car unusable, what recourse do you have? Guaranteed Asset Protection (GAP) insurance is the answer. What Is Gap Insurance? Guaranteed Asset Protection insurance protects the […]
How Much Car Insurance Do I Need? 5 Key Coverage Considerations
Of all the many adulting tasks we’re faced with, figuring out insurance is among the most confusing. Health? Life? House? Car? Yes! For car insurance, most state laws require every driver to have a minimum level of coverage, but how much and what type of coverage varies by state – so, should you get more […]
10 Ways Driving Analytics are Affecting Insurance
You may have noticed a lot of buzz about driving analytics lately, and for good reason. Driving analytics are primed to change the way vehicles and drivers are insured, and even conceivably change the way individuals drive, for the better. What is Driving Analytics? Also referred to as telematics, driving analytics tracks driver data like […]
What Insurance Does an Uber or Lyft Driver Need?
If you drive for a ride-hailing company like Uber or Lyft, or if you’re thinking of joining one, insurance coverage can seem like a secondary concern or something too complicated to tackle. But it’s more important than you think – and inaction could put you at risk. Do you have the right auto insurance to […]
How Hybrid and Electric Vehicles Affect Your Auto Insurance Quotes
For many hybrid drivers, ditching the gas guzzler for something a bit greener may be more about lifestyle than economics. But if you choose one of these vehicles, it could cost you when it comes to auto insurance quotes. Hybrid car insurance generally costs more than coverage for gas-powered vehicles, according to a 2008 study […]
Types of Auto Insurance
There are several different categories of auto insurance and each covers a different aspect of your risk as a driver. Liability: If you are deemed at fault in a car accident, liability coverage will pay for repairs, medical costs for injuries suffered by others in the vehicle, plus other expenses related to the accident such […]
Auto Insurance Database Would Improve Police Ability to Catch Uninsured Drivers
“Can you go ahead and give me your license, registration and insurance card, please?” That question never signals happy times. Almost always it’s asked for a driver pulled over for a traffic infraction or involved in a crash. The law enforcement officer can quickly verify your license and registration status via a real-time statewide database, […]
Summer Car Care
Summer is an important time to take care of your car through regular maintenance tasks. By taking care of your car in the summer, you can prevent mishaps such as engines becoming too hot or air conditioners not running properly. Check out our list below and download our free checklist. Summer Car Care There are many […]