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Allstate Wants to Track Your Driving to Determine Your Car Insurance Rate
Many consumers are unhappy that car insurers use their credit histories in setting premium rates. Now an alternative is in sight—and some might like it even less. Insurers would be able to track how, when and where they drive. Since late summer, car insurer Allstate Corp. ALL -0.36% has been talking to state regulators about helping to lead an industrywide effort to transition in the coming years from sizing up risk in applicants with factors including credit scores to largely using telematics to determine rates, the company and regulators said. With telematics, insurers monitor policyholders’ driving behaviors either through smartphone
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Best No Credit Check Car Loans for People With Poor Credit Scores [2021]
Owning a car is one of those things that you either take for granted or have a desperate need for. If you live in a larger city, having a car may not seem useful all the time. Most of your time traveling will probably be spent either on foot or in the subway. Depending on your job, you may need a car, even if you live in the city, especially if you are an entrepreneur who needs to take his equipment on the road. If you live in a more rural area, having access to a functional set of wheels
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Car insurance ‘age tax’ could impact two generations, study finds
Baby Boomers and Gen Zers pay a higher – and possibly unjustified – average monthly car insurance premium, in part because of supposed “age tax,” according to a new study. (iStock) Baby Boomers and Gen Zers pay a higher – and possibly unjustified – average monthly car insurance premium, in part because of supposed “age tax,” according to a study conducted by car insurance shopping app Jerry. The study found that Gen Z drivers in 17 states across the U.S. pay higher auto insurance rates than millennials, despite having equal or fewer driving violations. “The car insurance
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Car Accident Insurance: Who’s At Fault? Who’s Responsible to Pay?
Products featured are independently selected by our editorial team and we may earn a commission from purchases made from our links; the retailer may also receive certain auditable data for accounting purposes. We may receive payment from affiliate links included within this content. Our affiliate partners do not influence our editorial opinions or analysis. To learn more, see our Advertiser Disclosure. You let your friend borrow your car when the (almost) unthinkable happens—they cause a car accident. Not only could this wreck your friendship, but it might also put a dent in your wallet in the form of higher car
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Does Car Insurance Cover Engine Failure?
Dealing with an engine failure or other mechanical problems with your car is no fun. Depending on the problem, it can be expensive to fix. If you are dealing with an unexpected blown engine, does having full coverage car insurance cover it? What about gap insurance, will it cover my engine failure? Unfortunately in most cases, auto insurance does not cover engine failure or other mechanical problems. However, there are a few exceptions where insurance coverage may pay for a blown engine. How does insurance deal with engine failure? Typically, car insurance does not cover engine failure, even if you
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How Does a Failed Inspection Impact Your Car Insurance?
Many states, though not all, require some form of either a physical automobile inspection or an emissions test (or both). States have numerous safety and environmental concerns that underlie the desire to have vehicles on the road that promote these goals. Insurance companies also want to ensure that the vehicles which they insure are not more likely to become involved in accidents and generate claims or are already physically impaired. An unsafe vehicle can therefore impact key areas of coverage that come into play when an accident occurs including liability, collision and even comprehensive protection. Accordingly, drivers with unsafe or
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Does car insurance cover flood damage?
Floods are some of the most common natural disasters to hit the U.S. In many areas, especially the Northeast, coastal flooding has become more frequent. You may have heard about securing proper flood insurance for your home in case of a hurricane or similar natural disaster, but what about car insurance? Here is what you need to know. Yes, but only if you pay for comprehensive auto coverage. According to Allstate, comprehensive coverage is car insurance that helps to pay for replacement or repairs to a vehicle if it has been damaged or stolen in an incident that is
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Car thefts are on the rise nationally and locally
The number of car thefts are on the rise over the last decade, locally and nationally. According to Lending Tree, the number of thefts have increased 18 percent in Utah over the past ten years. Prices for used cars have been on the rise recently. The demand, unfortunately, may also be translating into the supply sector that would rather take your vehicle than buy it. Car thefts decreased slightly in Utah in 2019 The national number increased from nearly 800,000 purloined in 2019 to almost 875,000 last year. In the statement from Lending Tree, the number of car thefts per
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