According to S&P Global Market Intelligence’s RateWatch, Farmers Insurance instituted double-digit rate increases in 43 states in 2023 for a weighted average rate increase of 17.6%—and its private-auto insurance peers in the U.S. did the same. All 10 of the …
The number of insurance claims filed for catalytic converter thefts plummeted this year after rising dramatically in 2021 and 2022. National Insurance Crime Bureau data shows that as of Sept. 30, the number of claimed catalytic converter thefts averaged 2,675 …
Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine big market players. Profitability challenges in the …
SACRAMENTO, Calif. (AP) — Top U.S. insurance companies and associations say California is risking a crisis in the nation’s largest automobile insurance market by refusing to approve any rate increases for more than two years, since the start of the …
On Jan. 5, a 2005 Porsche Carrera GT with just 780 miles on its odometer sold on the online auction site Bring a Trailer for $1.9 million. The astounding sum set a world record for the sale of this kind …
An auto insurer is not required to pay underinsured motorist benefits to the son of man who was killed in an auto crash because the father was not insured by its policy, the Wisconsin Supreme Court ruled Tuesday in an …
A provision in State Farm auto policies that limits payouts for uninsured motorist claims to the maximum amount allowed by a single policy cannot be enforced because it does not comply with state law, the Oregon Supreme Court ruled on …
LANSING, Mich. (AP) — Courtnie Bush, 16, was never supposed to wake up again, much less smile, stand and walk after she was in a car crash in December. Her mom Jenna said what Courtnie accomplished since then is nothing …
Apps that let you book a ride to work or borrow a car for your next vacation are feeding into a revolution in auto insurance — while also raising some privacy red flags. Data on everything from how frequently a …
Louisiana’s largest auto insurer will cut its rates starting in April by an average of 3.2 percent for its roughly 1 million Louisiana policyholders. Insurance Commissioner Jim Donelon announced the rate decrease for State Farm on Thursday. It’s the company’s …