Car Insurance News: What you need to know in 2021

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If you drive a car, you must have car insurance. In the United States, car insurance is mandatory in almost all states. With so many companies offering car insurance, finding the best one can be overwhelming. However, it is important to stay updated on car insurance news, especially if you want to save money and get the best coverage. Here is what you need to know about car insurance in 2021.

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The Latest Car Insurance News:

Car insurance is a constantly evolving industry, with new policies, discounts, and regulations always being introduced. Here are some of the most important news items to keep in mind:

New Car Safety Features:

Advanced safety features are becoming more and more common in new cars. These features, such as automatic emergency braking, lane departure warnings, and adaptive cruise control, can reduce the risk of accidents and injuries. As a result, car insurance companies are starting to offer discounts for cars equipped with these features. If you are in the market for a new car, consider choosing one with advanced safety features to save on car insurance.

COVID-19 Impact on Car Insurance:

The COVID-19 pandemic had a major impact on the car insurance industry. With so many people staying at home and driving less, many car insurance companies offered refunds or discounts on premiums. However, as more people return to the roads, some companies are starting to increase premiums again. It is important to shop around and compare car insurance quotes to make sure you are getting the best deal.

New Regulations for Autonomous Cars:

Autonomous cars, also known as self-driving cars, are becoming more common on the roads. However, there are still many regulatory hurdles to overcome before they become widely available. In 2021, new federal regulations were introduced to govern the testing and deployment of autonomous cars. These regulations will have a significant impact on the car insurance industry, as the liability for accidents involving autonomous cars will need to be determined.

FAQ about Car Insurance:

Here are some frequently asked questions about car insurance:

What Factors Affect Car Insurance Rates?

Car insurance rates are affected by a variety of factors, including:

Factor
Description
Driving Record
Drivers with a history of accidents or tickets often pay higher premiums.
Age
Younger drivers often pay higher premiums than older drivers.
Car Make and Model
Cars with higher safety ratings and lower theft rates may be cheaper to insure.
Location
Drivers in urban areas often pay higher premiums than drivers in rural areas.
Credit Score
In some states, car insurance companies can use credit scores to determine rates.

What Types of Car Insurance are Available?

There are several types of car insurance available:

  • Liability Insurance: This covers damages and injuries you may cause to other people or their property in an accident.
  • Collision Insurance: This covers damages to your own car in an accident, regardless of who was at fault.
  • Comprehensive Insurance: This covers damages to your car from non-accident causes, such as theft or weather damage.
  • Uninsured/Underinsured Motorist Insurance: This covers damages and injuries you may sustain in an accident caused by a driver who doesn’t have insurance or doesn’t have enough insurance.

How Can I Save Money on Car Insurance?

Here are some tips for saving money on car insurance:

  • Shop around and compare quotes from different companies.
  • Ask about discounts, such as multi-car or multi-policy discounts.
  • Choose a higher deductible to lower your premium.
  • Drive safely and maintain a good driving record.
  • Consider a usage-based insurance policy that charges based on how much you drive.

What Should I Do After an Accident?

If you are involved in an accident, here are some steps you should take:

  1. Check for injuries and call for medical assistance if necessary.
  2. Exchange information with the other driver, including names, contact information, and insurance information.
  3. Take photos of the accident scene and any damages or injuries.
  4. File a police report.
  5. Contact your insurance company and report the accident.

Conclusion:

Staying updated on car insurance news is essential to getting the best coverage and rates. From new safety features to changing regulations, the car insurance industry is always evolving. By understanding your options and taking the necessary steps to save money, you can protect yourself and your car on the road.

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