All articles tagged with #auto insurance
A new Insurify study cited by USA TODAY finds Americans spend about $5,851 per year to own and operate a car, with total ownership costs varying by state. Georgia is the costliest at $7,648 (insurance $3,109; gas $2,604; maintenance $1,935), followed by Maryland ($7,114), Wyoming ($7,054), Mississippi ($6,942) and Missouri ($6,875). Driving distance and population density help explain why insurance and gas costs vary across states.
State Farm is issuing a $5 billion cashback dividend to auto-insurance customers after stronger-than-expected underwriting in 2025. Dividends, ranging from 4% to 10% of last year’s premiums and calculated by state, are being paid in waves and can take months to reach all policyholders. Eligible customers can check amounts and payment dates at sfdividend.com using a Dividend ID and PIN (or name and policy number), with optional payouts via PayPal, Venmo, or Zelle; a helpline is available at 1-888-808-9532.
State Farm is issuing a $5 billion cash-back dividend to eligible auto-policyholders, affecting more than 49 million vehicles. Eligible customers are those with an active personal auto policy at any point in 2025 with a dividend amount of $10 or more; payouts will be 4–10% of the 2025 auto premium, vary by state, and require no claims. Communications will come by email or mail, with options for a physical check or a digital payment, and the distribution will occur over several months without increasing future premiums.
State Farm has begun issuing a $5 billion cash-back dividend to more than 49 million auto-policyholders, calculated as 4%–10% of 2025 auto premiums and delivered by email, mail, or digital payment; no claim is required and payouts will occur over several months without raising future premiums.
Georgia regulators announced USAA will reduce auto-insurance rates across its Georgia companies, with average cuts of 4.7% (Garrison Property & Casualty), 4.5% (USAA Casualty), and 2.4% (USAA General Indemnity), totaling about $33.2 million in savings for more than 200,000 residents, signaling increased competition in the state’s market.
As fuel prices rise, criminals are adopting a 'drill-and-drain' method—piercing fuel tanks to siphon gas—which leaves costly damage and is fueling more insurance claims. Incidents range from a St. Louis mobile food pantry truck with a diesel stain to a Scottsdale, Arizona leak, illustrating a broader uptick in theft linked to higher gas prices.
State Farm is issuing a one-time $100 dividend to about 49 million auto-insurance customers. The article outlines who qualifies and how the payment will be delivered, including how checks will be sent and when to expect the payout.
State Farm will issue an average $100 refund per auto policyholder, totaling about $5 billion for 49 million vehicles this summer; the cash refunds (not credits) reflect stronger-than-expected underwriting and lower auto repair costs, with more refund details to come.
State Farm will issue an average $100 per vehicle cash-back dividend to auto policyholders this summer, totaling about $5 billion for more than 49 million vehicles, as auto rates were cut by roughly 10% in 40 states (about $4.6 billion in savings) — the largest dividend in State Farm's 103-year history.
State Farm Mutual Automobile Insurance Company announced a $5 billion cash-back dividend for auto policyholders—the largest in its history—on top of $4.6 billion in annual auto-rate reductions. The one-time payments will be distributed this summer to qualifying customers across more than 49 million insured vehicles, averaging about $100 per vehicle, reflecting the mutual company’s financial strength and favorable underwriting.
New car inventories have reached a four-year high, but prices remain steady at around $49,000 due to high production costs and advanced features. While used car prices are dropping, financing and high interest rates continue to challenge buyers. Lower-priced vehicles under $30,000 are still in high demand and hard to find. Buyers should also consider rising auto insurance costs when purchasing a vehicle.
The cost of auto insurance in the US has risen over 22% in the past year, with a 43.7% increase since January 2020, largely due to the high-tech gadgetry and safety equipment now common in cars, driving up repair costs even for minor accidents and contributing to high inflation.
Surging auto insurance premiums, driven by factors such as increased car prices, supply chain disruptions, high demand, and a shortage of mechanics, are contributing to high inflation and financial strain on U.S. households. The cost of auto insurance rose 2.6% in March, bringing the total annual gain to 22.2% – the fastest yearly rate on record. Car insurance companies are also trying to make up for steep losses incurred in 2021, which saw a sharp rise in fatal car accidents. The burden of inflation is disproportionately impacting low-income Americans, who are forced to pay more for everyday necessities.
Skyrocketing auto insurance costs have contributed to higher inflation, with prices rising by 2.7% monthly and 22.2% annually. Factors such as expensive new vehicles, supply chain shortages, and advanced vehicle technologies have led to increased repair and replacement costs, impacting insurance premiums. Insurers are facing significant losses, prompting rate hikes and declining customer satisfaction. Usage-based insurance programs are gaining popularity as insurers offer discounts for safer driving, but overall customer satisfaction with auto insurers has reached a more than 20-year low.
Consumer prices rose 3.5% in March, with auto insurance costs contributing significantly to the increase, soaring 22% from March 2023 and averaging $2,314 per year for full coverage. Factors such as rising vehicle costs, advanced technology, labor shortages, and increased repair demand have led to higher insurance rates. Insurance companies, facing costly claims and losses, have sought and won significant rate increases, with no immediate relief in sight for drivers as the industry aims for stabilization possibly by next year.