Getting insurance for a vehicle is a mandatory matter for owners. It mainly serves as a prevention of heavy expenditure in the case of any bitter incident. In most countries, not having
Nowadays, finding a perfect general insurance quote became very easy with the help of services that compare insurance quotes. But of
The Massachusetts Connect
Many might not be aware of Massachusetts role in auto insurance. However, the state of Massachusetts had an important role to play in the history of auto insurance. It was officially the first state to make auto insurance mandatory for all vehicle owners, starting in 1927.
The Most Expensive State
The State of Michigan has the highest rate of auto insurance in the United States. Citizens pay nearly $2300 USD as an average annual premium.
The Italian Bull
If you are a car enthusiast, the words Italian Bull would trigger an image of a Lamborghini in your mind. It is a well-known fact that Lamborghinis are among the most expensive sports cars available. Thus, the annual insurance costs payable for a Lamborghini adds up to nearly $6050 per year.
Insurance Free States
Most states have vehicle rules that consider not having vehicle insurance as a criminal offense. However, the states of Virginia and New Hampshire do not fall under this category. In their cases, motorists only have to pay about $500 as an uninsured motorist fee if they don’t have a valid vehicle insurance. However, in case of any accidents or damage the driver may cause, he/she is still held liable.
The Most Stolen Car
The data from various police and insurance providers indicate that the Honda Civic is the most stolen car, with 388 cases of stolen Honda Civics being reported in 2017 alone. Nissan Altima comes second. Ironically, about 80% of the stolen cars had proper insurance.
The Surge Pricing
The importance of data is at its highest in the current age. Information related to driving patterns are constantly updated and intimated to various insurance companies based on this data, insurance rates are either increased or decreased by the insurance companies.
ISO Ratings
The ISO rating program is responsible for the determination of the actual vehicle cost. The vehicle’s safety rating, the make of the vehicle, model and other parameters are used for making this decision. Normally vehicles are assigned a rating by the insurance companies, which they use to determine the risk of insuring a vehicle.