We don't have to tell you to think twice about causing an accident (we hope), but if you do happen to be at fault in a crash, there are a few states where insurance rates jump by as much as 67 percent. That's in Massachusetts, but California drivers who are at fault in a crash experience a substantial 62 percent rate hike, and New Jersey isn't far behind at 59 percent, according to a survey reported by the Los Angeles Times. The national average rate hike when a driver is at fault in a crash is
In the face of rising auto insurance premiums, insurance companies have been responding with potentially cheaper, pay-as-you-drive plans that, for billing purposes, track when, how, how much and where drivers use their vehicles instead of basing rates on statistics and past trends, The Detroit News reports. The practice isn't yet mainstream, but the National Association of Insurance Commissioners predicts 20 percent of insurance plans will be pay-as-you-go in five years; right now they account f
The auto insurance industry is strange. While past driving history plays a small role in deciding a driver's premium, insurance company research on prior claims determines a driver's likelihood of getting into an accident. That's why it's more expensive for young males to insure their vehicles than young females, and why married couples typically enjoy a discount on their coverage compared to their single friends. But what happens when a drastic life change moves an individual out of one risk po
There is a debate that's been raging for decades now, and it revolves around the extremely exciting world of car insurance. The discussion is centered on the topic of gender, and its relationship to insurance premiums. It seems that men, on average, have higher premiums compared to the ones carried by women. In an odd twist, however, a survey was recently conducted that found women are the ones fibbing a bit more often when applying for those premiums.
According to a study done by InsWeb earlier this year, car insurance premiums for women in the U.S. are nine percent lower than those for men. Things are much the same in the UK, where insurance companies will offer the fairer sex lower rates than those given to men. Companies like Sheila's Wheels in the UK – founded by a man – specialize in lower-priced offerings for women, including handbag insurance.