Kristen Jordan Shamus Detroit Free Press Published 1:38 PM EDT Mar 26, 2019 You've heard of the gender wage gap, but how about a car insurance premium gender gap? It turns out, Michigan's is a doozy. Women in Michigan paid an average of $79 more per year than male drivers for the same car insurance coverage in 2018 — the second-biggest gender gap in auto insurance costs nationally. That is just one finding in a new report by The Zebra, an online auto insurance comparison pricing company that analyzed gender differences in rates in Michigan and around the country. Most states allow insurance companies to offer different premium rates to male and female drivers if they are able to show, for example, that male teen drivers are statistically more likely to get into crashes and file claims than female teens. "Insurance is all about risk," said Alyssa Connolly, director of market insights at The Zebra. She also is licensed in … [Read more...] about Michigan women paid $79 more in 2018 than men for same car insurance
How much does car insurance cost
Car insurance rates have grown significantly in central Pennsylvania, but drivers here still pay less than most.According to Zebra, an insurance search engine, the Harrisburg-Lancaster metro area has seen a 41 percent increase in insurance rates since 2011.That’s a lot higher than the national average increase, which was 23 percent in eight years. However, central Pennsylvanians in general pay less per year than both the national and statewide average. All kinds of factors go into insurance rates: driving history, vehicle type, marital status, age and gender. Location, even within a single county, can change rates significantly.Here’s how it looks: Zebra studied premiums across the U.S. and came up with a national average of $1,470 per year.The most expensive metro area for insurance is Detroit at $5,464 yearly. The lowest is Winson-Salem, N.C., at $846. Philadelphia was among the top 10 most expensive at $2,520, topping Los Angeles.Pennsylvania as a whole is 28th out of … [Read more...] about How much does car insurance cost? Central Pa. rates have gone up 41% in 8 years: study
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John Cichowski NorthJersey Published 9:38 p.m. UTC Aug 5, 2018 Most motorists recognize that age is a big factor when calculating auto-insurance premiums, especially if a driver is young. After all, rates of crashes, injuries and deaths for inexperienced teens are greater than any other age group. But that didn’t stop Jeff Pelliconi’s eyes from nearly popping out of his head when he saw his insurance company’s proposal for adding his 17-year-old son to the family policy. “Sticker shock!” recalled the Denville father of two. “And it got worse when we added my daughter a few years later.” Average insurance rates rise a whopping 82.7 percent for New Jersey families when the first teen is added to the policy, according to InsuranceQuotes, a firm that keeps track of rates. That percentage accounts for a $1,388.53 increase in the average family auto-insurance premium in New Jersey. And once a second teen is added? Forget about it! Rates … [Read more...] about How high will my teen’s car insurance be? Expect a big bump at age 17
Many people choose to buy car insurance based on the minimum amount of coverage required by Wisconsin state law. If you don’t have $100,000 sitting around in your bank account to give away for a situation like this, you need more coverage.”— Robert McKinneyOCONOMOWOC, WI, UNITED STATES, July 30, 2018 /EINPresswire.com/ -- Many people choose to buy car insurance based on the minimum amount of coverage required by Wisconsin state law. They think they are covered adequately, but Robert McKinney of McKinney Financial & Insurance Services says they may not have enough coverage to protect them if a major accident occurs. In Wisconsin, drivers must maintain at least $25,000 liability per person or $50,000 per incident and $10,000 for property damage. Additionally, they must have $25,000 per person and $50,000 per incident for uninsured and underinsured motorists. McKinney maintains that this amount of coverage may not be enough for the average driver. He recommends that … [Read more...] about McKinney Financial & Insurance Services Discusses Need for More Car Insurance