Auto insurance news 2018

Here are some notable auto insurance news stories from 2018:

1. Rising Premiums: Auto insurance premiums continued to rise in 2018, with the average annual premium increasing by 3.4% to $1,470, according to a report by the National Association of Insurance Commissioners (NAIC).
2. Self-Driving Cars: Several major automakers, including Waymo, General Motors, and Ford, announced plans to launch self-driving car services in 2018. This has raised concerns about liability and insurance coverage for autonomous vehicles.
3. Telematics: Telematics, which uses data from sensors and GPS to track driving habits, became increasingly popular in 2018. Many insurers began offering discounts to drivers who use telematics devices, which can help reduce premiums.
4. Ridesharing Insurance: The rise of ridesharing services like Uber and Lyft led to increased demand for insurance coverage for drivers who use their personal vehicles for commercial purposes.
5. Cybersecurity: As cars become increasingly connected to the internet, cybersecurity concerns became a major issue in the auto insurance industry. Insurers began to offer coverage for cyber-related risks, such as hacking and data breaches.
6. Usage-Based Insurance: Usage-based insurance (UBI) continued to gain popularity in 2018, with many insurers offering discounts to drivers who use UBI devices, which track driving habits and behavior.
7. Electric and Hybrid Vehicles: As electric and hybrid vehicles became more popular, insurers began to develop specialized coverage options for these vehicles, which often have different insurance needs than traditional gasoline-powered vehicles.
8. Distracted Driving: Distracted driving remained a major concern in 2018, with many states passing laws to ban texting and driving. Insurers began to offer discounts to drivers who use apps that detect and prevent distracted driving.
9. Autonomous Vehicle Liability: As autonomous vehicles became more prevalent, there was a growing need for liability coverage. Insurers began to develop policies that cover autonomous vehicles in the event of an accident.
10. Regulatory Changes: Several states passed laws in 2018 aimed at improving auto insurance regulation, including measures to increase transparency and fairness in the rating process.

Some notable auto insurance company news from 2018 includes:

• Geico: Geico announced a 10% rate increase in 2018, citing rising claims costs and other expenses.
• State Farm: State Farm announced a 4.5% rate increase in 2018, citing rising claims costs and other expenses.
• Allstate: Allstate announced a 4.5% rate increase in 2018, citing rising claims costs and other expenses.
• Progressive: Progressive announced a 4.5% rate increase in 2018, citing rising claims costs and other expenses.
• Liberty Mutual: Liberty Mutual announced a 5.5% rate increase in 2018, citing rising claims costs and other expenses.

These are just a few examples of the many auto insurance news stories from 2018. If you have any specific questions or would like more information on a particular topic, feel free to ask!