Telematics Auto Insurance: What Does This New Technology Mean For The Future?

In George Orwell’s 1984, all daily activities were overseen by a seemingly omnipotent being known as “Big Brother.” Telematics auto insurance seems like one step closer to “Big Brother” watching over us. Yet, on the other hand, telematics may also be the key to reducing the number of car crashes and also reducing our auto insurance premiums. What Is Telematics? Telematics involves satellites tracking a person’s driving habits — including the miles driven, the amount of time spent behind the wheel, as well as braking and acceleration patterns — to calculate a safe driving score. The score is then used to…

News: Auto Insurance Companies Raise Rates In Illinois

Allstate Corp. plans to raise car insurance rates for Illinois drivers by 3 to 5 percent, according to company filings with the Illinois Department of Insurance. New rates will go into effect May 17th. According to the company, this decision reverses the “hometown discount” advertised since 2009. They added that the size of the increase will depend upon how long a customer has been with the insurance company. This decision comes after Allstate posted its largest profit gain since 2007. Why Raise Rates? Allstate has been struggling to keep pace with the lower-priced competition lately. This last price hike is their attempt to gain…

Oklahoma Auto Insurance Tune-Up

The Oklahoma DMV says there is minimum mandatory auto insurance everyone is expected to carry in this state. However, as one Tulsa driver found out — the bare minimum is not always enough. “Alberto” told Channel 2 News that he signed up for a cheap “name your own price” policy — only to find that he had to pay off an auto loan and the expense of towing for a car that was too smashed-up to drive. To avoid this fate, take a moment to consider what type of coverage you actually have. Minimum Auto Insurance Coverage In Oklahoma By…

Best Auto Insurance For College Students

Statistically speaking, younger drivers get in more accidents. Drivers under 24 account for 13.2 percent of all motor vehicle crashes, according to the Census Bureau. Worse yet, 13,957 of those crashes involving young drivers are fatal, and accidents are the leading cause of death for young people. So naturally, auto insurance companies will charge you a higher rate. I know… it sucks. But the good news is that there are still ways to keep what you pay for insurance relatively low. Choose A High Deductible. Opt for the $1,000 deductible, rather than $500 deductible if you can. Sure, you’ll need to…