One has to wonder if Google’s entry into auto insurance could make insurance agents go the way of the milkman and become a curiosity. One thing is clear; the insurance industry will never be the same again after Google moves in.
An analysis of the Labor Market for Uber drivers prepared by Uber itself and Princeton economist Alan Krueger found that the average driver makes around $19 an hour after Uber’s 20% commission. Since the Uber driver has to pay for gas, the car, insurance, tires, and maintenance out of that money, the pay rate is probably around $10 an hour
In steering, an insurance company directs persons to specific garages or auto body shops when they make a claim for repair, U.S. Senator Richard Blumenthal (D-Connecticut) charged. Blumenthal thinks that steering is actually a safety risk.
Interestingly enough, the appearance of an Apple car on the market could help Musk and Tesla. If it were electric powered, the Apple car would need batteries; those batteries would presumably be lithium-ion units manufactured at Tesla’s massive Gigafactory in Nevada.
British drivers are being driven to buy the cameras because of an epidemic of a vicious insurance scam called crash for cash. In the scam, fraudsters deliberately cause accidents and send the bill to an innocent driver’s insurance company. British insurance giant Aviva reported that organized insurance fraud in Great Britain has increased by 21% since 2013.
Once again CarInsurance.com has put out its list of locations with the most expensive auto insurance. The list once more proves my contention that there is no logical or rational methodology to the way that companies price auto insurance.