Unless you’re like me and the sight of the GEICO pig on your TV has you instantly lunging for the mute button, you may have seen the ads where the porcine insurance shill blabs on about the convenience of having his insurance card on his smartphone. That’s nice and all, but it won’t currently fly in most states. [More]
All those ads trying to wheedle, cajole, convince and otherwise get drivers to switch car insurers add up to billions of dollars for insurance companies. But a new study says that even with all that financial heft, fewer drivers are deciding to take the plunge and go elsewhere. That sound you hear is money sliding down the drain. [More]
This story isn’t just about possible malfeasance by MetLife insurance in Massachusetts. It’s also a good example for why screwed-over consumers should file complaints with regulatory agencies. [More]
If the amount of money you paid for insurance last year went up, you are not alone. According to a new survey, 37% of Americans paid more for home, health, auto, or life insurance in 2012, while only 7% of people saw their insurance bill shrink. [More]
You don’t need a driver’s license to own a home. You don’t need to own a home to drive a car. But Allstate insurance has launched a product in Oklahoma that looks at policyholder’s driving records when determining their homeowner’s insurance rates. [More]
When your credit score sustains a dent, make sure your car doesn’t. Because higher car insurance is just what you need when you’ve lost your job. Auto insurers use customers’ credit scores as part of the formula to determine premiums. Shop around—different companies assign different weights to credit score in their calculations. [MainStreet.com]
Progressive Responds To Question About Using Recent Military Service To Determine Rates And Eligibility
The Progressive auto insurance company saw our post “Why Is Progressive Using “Recent Military Service” To Determine Rates And Eligibility?” and responded to let us know that it’s just to make sure that service members aren’t penalized for having a lapse in their coverage due to the fact that they’ve been deployed overseas. They’ve apologized for the confusing wording on the website and have pledged to rewrite it for clarity. Full official statement, inside…
[Update: Progressive responded and clarified that the fine print does NOT mean they will use military service to give you a higher rate.] We got this email tonight from Ceaser, who wants to know why his military service would negatively affect his car insurance:
While searching for new car insurance on progressive and sadly other insurance carriers, figuring what the rate check would be I answered a few questions. Some questions asked were if I was currently in the military and in college, I am both. As an Iraq war Army vet I am currently going to school with the GI bill, and tuition assistance from the Air national guard, so I put that I am both a student and national guard.
Minivan bumpers may not protect much, but they sure do cost a lot to repair, according to the Insurance Institute For Highway Safety. The IIHS smashed six minivans to test their bumpers and found that all racked up repair bills exceeding $5,000. The Nissan Quest was singled out as a “miserable failure,” costing $8,000 to patch-up.