auto insurance rates News

Home, Auto Insurance Rates Rose Slightly in Ohio in 2016

Ohio Department of Insurance Director Jillian Froment says that the average rates in 2016 for the top 10 homeowners and private passenger auto insurance groups in Ohio increased 1.9 percent and 3.1 percent, respectively. Ohioans pay among the lowest average …

Technology Being Blamed for Driving Up Massachusetts Car Insurance Rates

Auto insurance rates in Massachusetts are on the rise and technology is to blame. Industry experts tell The Boston Globe that drivers distracted by smartphones are crashing more often and those cars are now more expensive to repair because they’re …

Pennsylvania Helps High School Students Better Understand Auto Insurance

Pennsylvania education secretary Pedro Rivera and Insurance Commissioner Teresa Miller are focusing on helping high school students better understand car insurance. An interactive lesson titled “Insurance 101” was recently debuted for educators and students at Central Dauphin East High School …

Regulators: Auto Insurance Rates Continue Downward Trend in Missouri

Auto insurance premiums have declined significantly since 2000, according to figures released by the Missouri Department of Insurance. The average annual cost for full coverage peaked in 2003 at $740 — it dipped to $726 in 2013. In inflation-adjusted dollars, …

NAIC Report: New Jersey Tops Nation in Auto Insurance Rates

An annual industry report shows New Jersey has the costliest auto insurance rates in the nation. The National Association of Insurance Commissioners says New Jersey motorists paid an average of $1,220 in 2012. That’s about 49 percent more than the …

New Jersey Bill Seeks to Crack Down on Reverse Rate Evasion

The New Jersey Assembly passed a measure that would make reverse rate evasion an insurance fraud and provide for civil and criminal penalties. The bill, A 2281, passed the state’s Assembly on Monday and is pending in the state Senate. …

GEICO Lowers Commercial Auto Rates in Virginia

GEICO is introducing lower rates in Virginia for commercial auto insurance customers, including contractors, retailers, caterers, professional services and other businesses. Small business owners in particular need commercial vehicle insurance packages to cover their cars, trucks and vans used on …

Ohio’s Financial Responsibility Law in Effect; Will Higher Auto Insurance Rates Follow?

While Ohio has traditionally had some of the lowest auto insurance premium rates in the country, going forward some Ohioans may see their rates rising. That’s because an increase in the state’s minimum limit of coverage for financial responsibility went …

Price Drives Auto Insurance Customer Satisfaction, Shopping Around: J.D. Power

Rate increases are driving more customers to obtain competitive price quotes, while satisfaction with the buying experience is trending downward among new-buyer customers due to lower price satisfaction among new buyers, according to the latest J.D. Power study. According to …

N.J. Lawmaker Aims to Classify Reverse Rate Evasion as Insurance Fraud

The New Jersey Assembly’s financial institutions and insurance committee advanced a bill that would include “reverse rate evasion” as a form of insurance fraud. The bill, A2204 — introduced by the Assembly’s Deputy Speaker Pro Tempore Wayne DeAngelo (D-Mercer and …