Insurance Industry News

Ohio Drivers Likely to See Auto Insurance Rate Hikes

California property owners worried about home insurance costs

Across the country, a major topic of conversation among those in the insurance industry, and the entities that regulate it, has been the cost of auto coverage. While consumers are growing more conscious of just how much these often necessary policies will cost them on a monthly basis, the fact is that many will see their premiums rise next year as a result of a number of different factors, depending upon where they live. This is certainly true in Ohio, and as a result insurance agents working there may need to do a little more to let their clients know why this is happening and what they might be able to do about it. In the Buckeye State, it seems that the reason auto insurance rates are ...

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  • Millennials Seem to Love Usage-Based Auto Insurance

    Ohio drivers likely to see auto insurance rate hikes

    Over the past few years, a new trend in the auto insurance industry that utilizes the latest technology to help set consumers' premiums has really started to gain in popularity. This type of coverage - known as "usage-based insurance" - tracks people's driving habits electronically, and has really caught on with the youngest generation of adults in particular. For this reason, it might be wise for insurance agents to start doing a little more to explain why this kind of plan might be more beneficial to drivers of all ages who want to bring their costs down by improving their safe driving habits.

    Today, nearly 9 out of every 10 millennials say they at least ...

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  • States Trying to Implement New Auto Insurance Regulations

    Millennials seem to love usage based auto insurance

    For some time now, there has been considerable attention paid at the state level to ways in which lawmakers can better regulate rising costs for home and auto insurance. One issue that has been brought up often in the case of the latter type of coverage is that consumers may be penalized for things apart from their driving records, and consumer advocates and legislators alike worry about the impact on those who are already economically disadvantaged. This is certainly something that auto insurance agents will have to monitor closely in the coming months, depending upon the states in which they already operate.

    One of these issues that has been cropping up more often in recent months ...

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  • Auto Insurance Becoming More Affordable?

    Michigan Still Trying to Tackle Auto Insurance Reform

    Over the last several years, millions of Americans have expressed some amount of concern over the price they pay for their various necessary insurance policies, including auto insurance. And while the cost of such coverage is often in the news, there's data to suggest that while the amount they're paying might be higher than they'd like, these plans are currently more affordable for most people than they have been in years. As a consequence, it might be wise for insurance agents to chat with their clients regularly about why insurance costs what it does, and the ways in which their plans will ultimately be beneficial to them.

    In the 1990s, a consumer with an average income tended to ...

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  • College Students May Need Home Insurance for Themselves

    Auto insurance becoming more affordable

    Across the country, millions of college students and their parents will pack up a car full of belongings and drive that young adult off to school for another year. However, what they might not know is how those students are protected when it comes to standard home insurance coverage once they head off to school. In some cases, policies taken out by parents will cover kids even when they're away at school, but not always. As such, insurance agents may need to do a little more client outreach to ensure that they're helping people understand what their policies do and do not cover, not only in these cases, but for other situations that typically arise over the course of the year.

    Insur ...

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  • Massachusetts Drivers to See Big Upticks in Auto Insurance Costs?

    College students may need home insurance for themselves

    Tens of thousands of homeowners across Massachusetts are now living under the very real threat that their home insurance premiums could skyrocket as a result of the record-setting winter seen throughout the Bay State. As snow piled up more than 100 inches in just a few months, many likely had to make home insurance claims, increasing the state's overall risk. Now, it seems as though this is going to be the case for auto insurance as well, given that such severe weather led to so many accidents and other problems. If that's the case, it might be vital for agents working in Massachusetts to let their clients know why this is happening, and what they may be able to do about it.

    So far, ...

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