Market Changes Expected to Impact Auto Insurance Premiums Across the U.S.
Insurance Panda, a Leading Provider of Insurance Quotes, Predicts the Drop in Interest Rates Will Lead to a Slight Increase in Auto Insurance Premiums NEW YORK, NY / Insurance Panda, a top nationwide provider of insurance quotes, has recently published a new blog that addresses how recent economic developments will impact the cost of insurance premiums. As James Major from Insurance Panda noted, the Federal Reserve’s decision to cut its key interest rate by a quarter-point will most certainly have an effect on auto insurance. “When interest rates drop, insurance companies earn less from their investments, which reduces their overall income,” Major said. “To make up for this, they may increase auto insurance premiums slightly to cover costs. Additionally, lower interest rates can lead to more car purchases, raising demand for insurance, which can also impact rates.” In addition, new policies and proposed changes coming out of Washington DC may also directly impact rates, policy structures, and coverage options for millions of drivers. Fortunately, people who are concerned about potential hikes in their auto insurance premiums can always try to find a better rate by using the Insurance Panda website. The user-friendly online platform allows people to quickly and easily compare auto insurance rates from a number of top insurance providers – all at no cost and through a highly secure, industry-standard SHA-256 encrypted platform. As Major noted, because where people live plays a major role in the price they pay for insurance, drivers will start the free quote process by entering in their zip code. “Next, enter in your vehicle details and tell us about the car you drive. We will use this information to customize rates for you. Then all that you need to do is compare the rates, and choose the quote that works the best for you and their budget,” he said. To read the new blog on the Insurance Panda website, which is titled “How Donald Trump’s Victory Will Impact Auto Insurance Rates,” please visit https://www.insurancepanda.com/30912/how-donald-trumps-victory-will-impact-auto-insurance-rates/ About Insurance Panda Insurance Panda, headquartered in New York City, is a premier provider of auto insurance quotes across the United States. Since its founding in 2012, Insurance Panda has helped over 3 million Americans find affordable auto insurance options through free, reliable quotes. Drivers can discover how much they could save on auto insurance by visiting InsurancePanda.com. Media Contact James Majoroffice@insurancepanda.com347-741-8290New York, NY
Nearly 13 Percent of American Drivers Uninsured, Says Insurance Panda
As a New Article on the Insurance Panda Website Notes, Uninsured Drivers are Surprisingly Common in the United States New York, NY / Insurance Panda, a leading auto insurance quote provider, has just posted a new article to its website that takes an in-depth look at a very serious subject: uninsured drivers in the United States. To read the new article, which is titled “How Many Uninsured Motorists Are There? Which States Have the Most?” in its entirety, please check out https://www.insurancepanda.com/22619/uninsured-motorists-by-state/. As the article notes, driving without insurance in the U.S. is more common than many people may believe. While nearly all states require drivers to have insurance, around 1 in 8 drivers do not carry auto insurance, or almost 13 percent of drivers nationwide. In addition to being illegal in most states, the article notes that uninsured motorists end up making insurance cost more for other drivers. “If an uninsured motorist collides with you, for example, then you may still have $50,000 of medical bills and $20,000 of vehicle repair costs,” the article notes, adding that normally, the other driver’s insurance would cover these costs because the other driver was liable. “If the other driver was uninsured, however, then your own insurer covers the costs, or you pay out of pocket.”The rates of uninsured drivers do vary by state. As the article notes, while New Jersey has the lowest number of uninsured motorists—with only 3.1 percent of drivers not carrying insurance—Mississippi was found to have the highest, with a whopping 29.4 percent not being insured. As for why people drive without insurance, the article points out that while some feel it is too expensive, others may drive a vehicle that is inoperable or unused. To counteract this situation, some people buy uninsured motorist coverage. In addition to offering protection against drivers without insurance, it can also help provide some security and comfort. “There’s a good chance your next collision will be with an uninsured driver. Uninsured motorist coverage gives you peace of mind that your car insurance will be there when you need it most,” the article notes. About Insurance Panda Insurance Panda, based out of New York City, is one of the leading auto insurance quote providers in the United States. Since 2012, Insurance Panda has provided more than 2 million Americans with free car insurance quote comparisons. To see how much Insurance Panda can help people save on auto insurance rates, please visit https://www.insurancepanda.com. Media Contact James Majoroffice@insurancepanda.com3477418290