According to the International Organization for Road Accident Prevention, errors in human judgment account for 90 percent of car accidents. The collective failure rakes in $157 billion in car insurance premiums every year. However, if a self-driving car eliminated the driver's mistakes, the auto insurance industry would change. RAND Corp did a recent study that [...]
According to a UBI consumer survey, American drivers have grown comfortable using usage-based auto insurance (UBI) programs. UBI programs allow auto insurance companies to monitor drivers in exchange for discounts on their premiums. Towers Watson conducted the survey and found that drivers with a UBI policy nearly doubled in 17 months. It sat at 4.5 [...]
With the increasing costs of auto insurance, everyone is looking for methods to save money on car insurance. For 34 states, seniors can take a class to receive a driver-safe discount. Seniors 55 and older are eligible for the discount. Depending on the state, you receive a 10 percent discount or higher for receiving a [...]
After retirees are no longer responsible for the well being of a family, many drop their insurance premiums. However, is this a smart choice? For some cases, you may still want to hang onto your policy. Life insurance was designed to prevent your children and spouse from poverty if you died, and it becomes less [...]
Customers who are loyal to their car insurance company are often disappointed with raised premiums. According to NerdWallet, a data-driven, consumer finance website, US drivers overpay for auto insurance by as much as $368 per year. Research from NerdWallet shows that consumers can save as much as 32 percent from comparison shopping. Why People Don't [...]
In Michigan, two insurance companies started a bizarre argument that could soon impact the rest of the nation. Lawyers from State Farm Mutual Auto Insurance and Farm Bureau Insurance stirred public outrage. This due to refusing to pay compensation for a paralyzed man who was hit by an SUV while crossing the street. The two [...]
Following the tragic death of 22-month-old Cooper Harris, it might be time to highlight life insurance policies for children. Steve Weisbart, chief economist for the Insurance Information Institute, said that children make up less than one percent of the life insurance market. Etti Baranoff stated that one of the reasons is that insurance is meant [...]
A survey conducted by ValuePenguin helped to determine the average rates of car insurance for each city. ValuePenguin conducted the survey based on the sample profile of a 30-year-old male who drives a 2010 Toyota Camry surveyed throughout 30 cities. The cost of vehicle insurance in Georgia on average was about $1,090 per year. [...]
Auto insurance costs more in Atlanta than the rest of Georgia. Why? Well, Atlanta has a higher risk in addition to the related costs resulting from the claim. More traffic accidents occur around the metropolitan area because there are more people and more cars. Atlanta has a population of 443,775. Car insurance usually costs more [...]
J.D. Power conducted a 2014 U.S. auto insurance study that revealed vehicle owners had record-high levels of satisfaction with car insurance companies. The study released measured customer satisfaction over five essential factors that included: Price, claims, policy offerings, interaction, and bill and payment. On a 1,000-point scale, the overall satisfaction increased by 16 points up [...]
