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You are here: Home / Archives for Auto Insurance Affordability

Consumer Federation Report Finds Auto Insurance Rate Growth Slowest in States with Active Regulations

February 12, 2019 By CollisionWeek Editor

CFA State Price Increase Table

According to the study, California drivers have saved $154 Billion over 30 years of active insurance oversight. Auto insurance rates have risen at a significantly slower pace in states that actively regulate auto insurance prices than those with less vigorous oversight processes, according to an analysis of nearly 30 years of data released today by […]

Filed Under: News Tagged With: Auto Insurance Affordability, Consumer Federation of America, Regulations

Groups Say State Insurance Regulators Fail Consumers on Auto Insurance Affordability Research

September 7, 2018 By CollisionWeek Editor

Consumer groups want Federal Insurance Office to step in saying National Association of Insurance Commissioners report biased towards insurance industry. Insurance industry association calls consumer groups’ comments unfortunate. Consumer groups have called on state insurance regulators to reject a proposed report on auto insurance affordability that the groups said is biased toward industry and fundamentally […]

Filed Under: News Tagged With: Auto Insurance Affordability, Center for Economic Justice, Consumer Federation of America, Federal Insurance Office, National Association of Insurance Commissioners, Property Casualty Insurers Association of America

U.S. Auto Body Repair Price Growth Dropped Below General Inflation in April

May 30, 2018 By CollisionWeek Editor

Auto body repair prices in April were up less than three percent compared to year ago and dropped below the rate of overall inflation in the U.S. The most recent government figures on inflation through April 2018 indicate the rate of growth of auto body repair prices has declined somewhat over the past few months, […]

Filed Under: Research Tagged With: Auto Body Repair Prices, Auto Insurance Affordability, consumer price index, Inflation

U.S. Auto Body Repair Prices, Auto Insurance Outpaced Inflation Through February

March 21, 2018 By CollisionWeek Editor

Auto Body Prices February 2018

Auto body repair prices in February were up less than three percent compared to year ago. Auto insurance prices were up almost 10 percent during the same period. The most recent government figures on inflation through February 2018 indicate the rate of growth of auto body repair prices has declined somewhat over the past few […]

Filed Under: Research Tagged With: Auto Body Repair Prices, Auto Insurance Affordability, consumer price index, Inflation

Cost of Car Insurance in UK Costs 10% of a Young Driver’s Salary

February 6, 2018 By CollisionWeek Editor

Growth of injury claims and taxes drive higher costs for young people. All their salary for the year to date would go to pay auto insurance premiums. The Association of British Insurers (ABI) reported further evidence of the need to tackle rising motor insurance premiums – the cost of car insurance now gobbles up 10 […]

Filed Under: News Tagged With: Association of British Insurers, Auto Insurance, Auto Insurance Affordability, United Kingdom

North Carolina Auto Insurance Companies Ask for 13.8 Percent Rate Hike

February 7, 2017 By CollisionWeek Editor

North Carolina Insurance Commissioner Mike Causey announced February 3 that the Department of Insurance has received the annual auto insurance rate filing from the North Carolina Rate Bureau. The Bureau, which represents the auto insurance companies in the state, requested an overall statewide average increase of 13.8 percent for 2017. Causey who was elected Insurance […]

Filed Under: News Tagged With: Auto Insurance Affordability, North Carolina

Federal Insurance Office Announces Methodology for Monitoring Auto Insurance Affordability

July 18, 2016 By CollisionWeek Editor

The U.S. Department of the Treasury’s Federal Insurance Office (FIO) announced the adoption of a methodology for monitoring the affordability of automobile insurance. Title V of the Dodd-Frank Wall Street Reform and Consumer Protection Act authorizes FIO to monitor the extent to which traditionally underserved communities and consumers, minorities, and low- and moderate-income (LMI) persons […]

Filed Under: News Tagged With: Auto Insurance Affordability, Federal Insurance Office, Property Casualty Insurers Association of America

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