Study: Kentucky shows the #1 lowest premium increase after filing an auto claim
Hi Larry, According to insuranceQuotes.com's new nationwide analysis, drivers who file an auto insurance claim in Kentucky will see the #1 lowest premium increase in the country. Full details of the study and additional findings are highlighted below. Please feel free to use excerpts in any stories you may be working on, with credit back to insuranceQuotes.com. Additionally, let me know if you would like to set up an interview with Nick Diulio, insurance analyst at insuranceQuotes.com, who can discuss the data in depth, as well as provide additional insights and important tips for saving on auto insurance. Thanks, Courtney [cid:image002.png@01D3BC4A.487CDA20]FOR IMMEDIATE RELEASE Media Contact: Gabrielle Wesseldyk gabrielle@rosengrouppr.com<mailto:gabrielle@rosengrouppr.com> 212.255.0945 Filing an Auto Insurance Claim? Good(ish) News: Premium Increases Are Down This Year -State-by-State Analysis Shows That Claim-Induced Premium Spikes Remain High, But Not Quite What They Used To Be- AUSTIN, TEXAS (March 14, 2018)-Drivers filing an auto claim can breathe a (small) sigh of relief. For the fifth year in a row, insuranceQuotes.com<https://www.insurancequotes.com/auto/insurance-auto-claims-drive-up-costs-31418> examined the average economic impact of filing an auto claim-and while premium increases remain substantial, the data shows they're packing less of a punch. The study reveals premium increases of 42% (compared to 44% last year) after filing a single claim of $2,000 or more. The rate spike costs consumers $352 on average. Meanwhile, filing a second claim in one year costs an average increase of 92% (which is a 7% drop from last year). "Nobody likes filing a claim and then having to watch their rates skyrocket, but, for consumers, this year's numbers bring slightly better news than in the past," said Nick DiUlio, insurance analyst at insuranceQuotes.com. "While premiums do tend to increase after filing a claim, the severity of the spike will always depend on a number of factors, including claim type as well as where the driver lives." These five states showed the highest average premium increases after filing a claim of $2,000 or more: 1. New Hampshire - 66% 2. California - 63% 3. Rhode Island - 62% 4. Massachusetts - 61% 5. Iowa - 57% Meanwhile, these five states showed the lowest increases: 1. Kentucky - 19% 2. Tennessee - 20% 3. Michigan - 22% 4. Oklahoma - 23% 5. West Virginia - 28% Of the three types of claims analyzed-bodily injury, property damage, and comprehensive-bodily injury costs consumers the most, with average premium increases of 48.6% (compared to 49% in 2017). "As concerning as filing a claim might be for drivers, premium spikes are temporary," DiUlio said. "Depending on the claim, rates may remain high for three to five years, but will gradually fall to pre-claim levels. Regardless, it's always a good idea to shop around for a new policy to compare rates after filing." The full report-which includes rankings of all 50 states, along with additional tips and insights-is available at https://www.insurancequotes.com/auto/insurance-auto-claims-drive-up-costs-31418 Methodology: insuranceQuotes commissioned Quadrant Information Services to examine how claims affect car insurance premiums using data from the largest carriers in all 50 states and the District of Columbia. Assumptions included a $2,000 claim and policy limits of $100,000 for bodily injury liability for one person, $300,000 for all injuries and a $500 deductible on collision and comprehensive coverage. Averages are based on a 45-year-old married female driver who is employed, has an excellent credit score, has no lapse in coverage, and has filed no prior auto insurance claims. About insuranceQuotes: insuranceQuotes<http://www.insurancequotes.com/> gives consumers a free, easy way to shop and compare insurance quotes online for auto, home, health, life and business. Follow on Facebook<http://www.facebook.com/insuranceqts> and Twitter<http://www.twitter.com/insuranceqts>. insuranceQuotes 7300 FM 2222 Building 2, Suite 100 Austin, TX 78730 ###
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