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Author: William Brown
Why did Uber raise the minimum age requirement for California drivers to twenty-five?Uber recently implemented a minimum age requirement of twenty-five for new drivers in California who want to transport passengers using its ride-hailing platform.This change comes as a response to significantly higher commercial car insurance costs in the state. Previously, drivers as young as nineteen could sign up to drive for Uber.Now, only those delivering food with Uber Eats can be as young as nineteen. Existing drivers under twenty-five who activated their accounts before the policy change can continue to drive for Uber.The increase of the age requirement is…
Why are Floridians facing economic worries?Florida’s ongoing struggle with rising insurance costs has taken a toll on homeowners and motorists alike. Amid soaring homeowners’ and car insurance rates, many Floridians are expressing worries about the economic implications.Car insurance rates in the state have surged to nearly double the national average, placing a heavy burden on families and small businesses.This escalating situation is causing residents to question the reasons behind these exorbitant increases and what potential solutions might alleviate the financial strain.Across the state, drivers are experiencing an enormous shock as their monthly premiums are sometimes doubling within a single year.Ana…
What are the differences in car insurance premiums in the US?Florida has a rough time when it comes to insurances in general. After the homeowners insurance had risen to extreme heights and insurers even stopped offering them, car insurances are now at the highest in the country.If you however, compare Florida to the Ohio, you are paying less than half. From $2.5K per year, to $1K per year. And that has nothing to do with its geographical location.If you look at Michigan, next to Ohio, it also reaches top 5 at $2.1K per year. So the question rises how this is…
Why are Michigan drivers facing higher Car Insurance Rates?Michigan drivers are bracing themselves for higher car insurance rates as the Michigan Catastrophic Claims Association (MCCA) plans to increase its fees starting July 1.The MCCA fee, which is assessed annually per vehicle, will see a significant rise. Drivers with unlimited, lifetime medical coverage, better known as personal injury protection coverage (PIP), will experience a 42% increase, with the fee escalating from the current $86 to $122 per vehicle.Additionally, drivers without unlimited PIP coverage, who were previously exempt from the fee, will now be required to pay $48 annually.Currently, this last group…
What factors are targeted by the Motor Vehicle Insurance Fairness Act in Illinois?Having car insurance is a state law, but with the ongoing rising rates more people find it hard to find affordable insurance policies.In 2023, car insurance rates increased an average of $144 per person with the top five insurance companies.Those increases especially affect low-income drivers and drivers of Color. A new bill, called the Motor Vehicle Insurance Fairness Act, is groundbreaking.It is designed to limit car insurance underwriting and rating practices that rely on nondriving factors. The bill enhances the Illinois Department of Insurance’s authority to reject or…
Will Uber Carshare’s Expansion impact Car Insurance Premiums?After launching a car-sharing service in Australia last year, Uber, the renowned ride-hailing and delivery app company, is expanding its services to include peer-to-peer car sharing in North America, specifically targeting Toronto and Boston.With its Uber Carshare program, users can now rent vehicles from private car owners for a set period of time.While Uber emphasizes the sustainability aspect of this move, there are concerns about the potential impact on car insurance costs.The question is whether the introduction of Uber Carshare leads to a rise in premiums for car owners.While Uber has not shared…
Why are newcomers to Canada facing challenges in obtaining car insurance?Newcomers to Canada face difficulties when trying to secure car insurance. Farshad Barzegar, a recent immigrant, encountered obstacles when he tried to get insurance after buying a car after moving to Canada.The problem was that his 16-year driving history from Iran and South Africa was not recognized by Canadian insurance companies. The lack of recognition for his international driving history resulted in Barzegar’s insurance premium increasing significantly. He initially expected to pay around $70 per month but ended up with a premium of over $200 after being required to provide…
Are Kia and Hyundai Owners Still Struggling to Find Affordable Car Insurance?Despite the recent $200 million settlement agreed upon by Kia and Hyundai to address theft issues in their vehicles, owners of the affected cars are still facing a major problem: obtaining affordable car insurance.The settlement, aimed at compensating individuals whose cars were stolen or damaged, does not fully resolve the insurance-related challenges faced by Kia and Hyundai drivers.Many drivers of Kia and Hyundai models produced between 2011 and 2021, such as the Kia Soul, Kia Sorento, Hyundai Tucson, and Hyundai Elantra, continue to be denied insurance coverage or experience…
Why are car insurance costs rising?The cost of cars has risen a lot over the last couple of years, but now the insurance rates are also rising. What you pay for your insurance depends on your location, the type of car, your age and driving record.However, there are a few factors that determine everyone’s price increases. The main factor is our economic inflation. Because of the high inflation, all costs have risen over the last couple of years. This includes higher costs for labor and medical care after accidents, but also more expensive car parts, which were hard to find due…
Why are car insurance rates spiking in Illinois?In Illinois, there are 5 car insurance companies that are holding 62% of the market. And, whether agreed or not, they have raised their rates by over 500 million USD in the first half of 2023, shows a study by the PIRG.The possibility of raising the car insurance rates, like any other insurance, is a legal one and the inflation of the last years forces companies to raise their prices to survive.However, this excessive rise has raised concern with the state, as many car owners are not able to pay their premiums anymore.When…