ProPublica Study Shows Insurance Companies Discriminate When Assigning Rates
When it comes to auto insurance, your provider looks at a range of factors to determine the appropriate rate. Recently, this combination has been called discriminatory, but the industry denies this allegation. In response, ProPublica examined public and private data concerning risks and rates to form their own conclusion. ProPublica also looked at the algorithms…
Study: Major Insurers Raise Rates After Accidents, Even If Policyholder Isn’t at Fault
You get rear-ended by another driver and at the scene of the accident, you exchange your insurance information to later file a claim with your carrier. Your insurer will compensate you for the damage of the fender-bender and in the meantime, you wait to get your vehicle fixed. However, when it comes time for auto insurance…
Survey Shows Insurance Rates Vary by Car Model
As a driver, you make sure to follow the rules of the road, so you don’t get into an accident and have to pay higher rates. But, what if the car you drive is causing you to pay higher monthly premiums? In some instances, according to a recent survey conducted by Value Penguin, this could…
CT Teens are Some of the Country’s Safest Drivers, Pay Second-Highest Insurance Rates
Motor vehicle accidents continue to be the most common cause of teen deaths. In response, CarInsurance.com conducted a survey of teen drivers’ habits, looking at national data and input from 500 parents about their children’s driving habits. To compile data, researchers looked at several factors: Insurance costs, fatal crashes, strictness of Graduated Drivers Licensing (GDL)…
Car Insurance Companies May Start Associating Greater Risks and Higher Rates for Certain Routes
What if your travel destinations impacted your insurance rates? Your driving habits influence how much you pay each month, but according to a report from USA TODAY, three insurers have already filed patents for route-based risk programs. So far, Allstate, State Farm and Travelers have proposed to examine the routes drivers regularly take and assign…
