Archive for the ‘Allmerica car insurance’ Category

Car Insurance Most Affordable in MA for 2nd Year

Wednesday, May 4th, 2011

Massachusetts residents can rest easy knowing they have the most affordable car insurance in the United States for the second year in a row.  Unfortunately for Louisiana residents, they have the least affordable car insurance for the second year in a row.  InsWeb’s 2011 Car Insurance Affordability Index ranked the 50 states from most to least affordable.  It’s a study performed yearly by InsWeb and the results have been detailed in a company press release.

The states are ranked on an affordability factor.  It is not simply how expensive car insurance rates are that is taken into effect for the rankings.  They also look at the median income of residents in the state.  The median car insurance rate is divided by the median household income to determine each state’s affordability factor.  Many studies compare the car insurance rates and rank the most expensive to the least, but InsWeb’s study helps us understand how much of our budget is going towards car insurance.  Finding cheap car insurance relative to your income is easiest in Massachusetts and most difficult in Louisiana.

After Massachusetts, the remaining top ten states for most affordable car insurance in order are Hawaii, Minnesota, North Carolina, Utah, Wisconsin, Iowa, Idaho, Ohio, and Vermont.  Companies like Allmerica car insurance offer rates that are low in comparison to median salaries in these areas for many different reasons.  The ten states with the worst affordability factors following Louisiana in the 51st spot are Washington D.C., West Virginia, Oklahoma, Mississippi, Kentucky, Rhode Island, Arizona, New York, and Florida.

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Compare Car Insurance Trends

Monday, December 20th, 2010

There are five trends in the car insurance industry that will help you keep your resolutions to save both money and time next year.  Insurance.com discusses their trends in the article “Insurance.com Reveals 5 Car Insurance Trends That Will Save Time and Money in 2011.”  Like many businesses, insurance companies have been hit hard by the struggling economy and are offering incentives and deals to obtain and keep customers.  Compare car insurance from this year and the likely trends for next year and there are significant time and money saving offers for consumers.

First of all, car insurance rates will be more competitive.  Insurance companies like Allmerica car insurance will be offering better premium rates to get new customers.  The next trend will be an increase in the number of policies that are based on mileage.  Consumers who drive very few miles are likely to receive big discounts next year if they get into one of these policies.  Lower deductibles and refunds of premiums paid will likely be given to accident-free drivers by many insurance companies in 2011, giving them a greater incentive to drive safely.

The fourth trend for 2011 will save tech savvy consumers a lot of time.  The use of smart phone options related to car insurance will become even more widespread with communication regarding policies and claims becoming simpler.  Finally, insurance companies like Eastwood Insurance are likely to offer more budget friendly options for car insurance.  More companies are likely to offer minimum coverage plans and advertise them to attract consumers who are cutting back.  Talk to your insurer and research others to save yourself time and money in 2011.

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Esurance Rates Based On Location

Wednesday, August 25th, 2010

According to Laurent Belsie’s article in The Christian Science Monitor, the five states where you will spend the least amount of your median income on car insurance are not necessarily the states with the cheapest car insurance rates.  In “Insurance rates: Top 5 states to insure a car for less,” Belsie lists the five states where companies like Esurance will insure your car for less of your median income than all other states.  The national average for car insurance payments is $733 per year or 3.5% of one’s income.

Although insurance rates are relatively high in Massachusetts, the median income is as well so residents of the Bay State pay the least percentage of income towards their car insurance.  The average cheap car insurance payment of $509 a year equals out to 2% of the annual income in Massachusetts.  Minnesota is the second place state, even though they have very harsh winters filled with loads of snow, ice and sleet.  Drivers there spend about 2.4% of their median income on their average car insurance payments of $563 per year.  Maybe it is because they spend so much time stuck in their houses in a snowdrift!

Hawaii comes in third place, even though they pay the most insurance of all the top five states at $602 a year.  They also make much more on average than Americans in other states.  Companies like Allmerica car insurance don’t have to worry about snow and ice since residents are driving in beautiful weather year round.  The fourth place state is New Hampshire, partly because there are so many less drivers per square mile than neighbors like New York City.  Residents pay $595 a year, which is 2.5% of their median income.  Utah rounds out the top five with residents paying 2.4% of their income for car insurance of $573 per year.  They have a lot of open space and far fewer residents than many other states.

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Winter Storm May Effect Allmerica Car Insurance

Friday, February 12th, 2010

According to the Associated Press‘ “Latest storm sets record in DC, Baltimore,” Nafeesa Syeed says that Washington DC and Baltimore have just had their snowiest winter on record.  The airports in both cities had measured snow amounts greater than previous records as of Wednesday, February 10 and winter is not nearly over yet.  Roads on the east coast were just treacherous, from Baltimore to New York City.  With all of the accidents, including a fifty car pile-up in Pennsylvania, insurance companies will be working overtime.  Allmerica car insurance holds a strong presence in the northeast and could be hit hard with insurance claims.

With five feet of snow on the ground in many eastern states, many people have been holed up at home.  Grocery stores haven’t been restocked because many roads were impassible.  Even snow plow drivers had to pull to the side of the road at points because they couldn’t get through the snow.  The Governor of Pennsylvania actually closed off portions of some highways because travel on them was too dangerous.  As many businesses closed for days, including the federal government, some major cities were nearly vacant.  Hundreds of flights were canceled at all the major airports as well.  With the northeast finally digging out from these two huge back to back storms, cities like Washington DC and Baltimore are hoping for some weather relief.

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