Amelia Buckley

Bozeman

Editor at Bankrate

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Articles

Underinsured motorist coverage: What is it and who needs it?

1 week ago | bankrate.com | R.E. Hawley |Amelia Buckley

Underinsured motorist coverage, or UIM, may be one of the least understood types of car insurance, but it’s increasingly important in an era of rising rates and precarious driving. Rising prices can easily leave drivers underinsured — sometimes unknowingly — and this key coverage gives drivers a way to recover their losses if they’re in an accident with an at-fault driver who doesn’t have enough insurance to cover the damages. What is underinsured motorist coverage?
Excess and surplus lines insurance: What you need to know

1 week ago | bankrate.com | Shannon Martin |Amelia Buckley

Surplus lines insurance can provide coverage for homes that are uninsurable in the standard market. E&S insurance must be purchased through a licensed surplus lines broker. Since surplus lines insurance is not state-regulated, homeowners should pay special attention to the terms and conditions of their policy. Rates for surplus insurance are typically much higher than traditional policies due to less regulation, increased exposure to loss and smaller risk pool.
When insurance risk goes viral: Hyundai and Kia thefts show how Tesla vandalism could affect rates

1 week ago | bankrate.com | R.E. Hawley |Amelia Buckley

Teslas are the hottest new target for vehicle vandalism. But as the smoke clears from dealership lots, many Tesla owners are predicting a financial aftershock. Could the recent rash of Tesla vandalism cause already-high insurance premiums to rise? The short answer: Probably, but it’s not clear. Insurance premiums respond to a wide range of risk factors. All cars need insurance — but not all cars are profitable for insurance companies.
Here's where flooding was the worst in 2024 — and how to better prepare your home in 2025 - Bankrate

2 weeks ago | bankrate.com | Kathleen Howley |Amelia Buckley

After more than a foot of rain fell within a few hours in Oxford, Connecticut, last August, Randi Marcucio entered her house one last time and grabbed her three-year-old son’s teddy bear. “I didn’t know that the whole house was going to go, but I knew it wasn’t safe to stay the night, and I knew my son would want his teddy bear,” says Marcucio, an emergency room nurse and a single mother.
Insurance industry braces for rising rates as tariffs hit vehicles and parts

2 weeks ago | bankrate.com | Shannon Martin |Amelia Buckley

“I hope they raise their prices because if they do, people are gonna buy American-made cars,” said President Trump during a March 29 interview with NBC News. “I couldn’t care less because if the prices on foreign cars go up, they’re going to buy American cars.” While Trump “couldn’t care less” about tariffs increasing the price of automobiles, you and your wallet probably should. The president’s newly-announced America First Trade Policy follows through on his promise of more tariffs.
How I Adjusted My Auto Policy When I Turned 26

3 weeks ago | bankrate.com | Amelia Buckley |Jessa Claeys

Turning 26 isn’t a big milestone birthday like turning 18 or 21, but it did come with some personal — and financial — adjustments. I now bake all of my bread from scratch (18-year-old me would roll her eyes), and I relish being able to rent a car without extra fees. I also am no longer a youthful operator in the eyes of my auto insurance company, so I took a good hard look at my policy. Here are some key steps I took with my coverage after blowing out my candles this year. 1.
Is that luxury car worth the cost of insurance?

4 weeks ago | bankrate.com | R.E. Hawley |Amelia Buckley

What would you do if you won the lottery tomorrow? “Buy my dream car” is a common answer — and it makes sense. Luxury vehicles are more than just a status symbol. They can also be more comfortable, visually appealing and fun to drive. But when buying a luxury vehicle, it’s not just the upfront purchase price you need to consider. Ongoing costs, such as the cost of auto insurance, could make you think twice before committing to luxury vehicle ownership.
Auto insurance rates may be stabilizing. Why is my premium still going up?

1 month ago | bankrate.com | Shannon Martin |Amelia Buckley

Nobody likes to get a bill, but when it comes to car insurance, chances are you’ve been extra wary of receiving your renewal letters lately. With average car insurance rates increasing by over 30 percent in the past two years, drivers across the country are wondering when they can expect some financial relief. The good news is that the break we are all looking for may already be here. The bad news is that most of us aren’t feeling it in our bank accounts. Are car insurance rates stabilizing?
Can My Insurer Really Drop My Policy Before a Wildfire?

1 month ago | bankrate.com | Ashlyn Brooks |Amelia Buckley

The flames hadn’t reached their home yet, but for one California family, the panic had already set in. Their grandparents, who lived in a high-risk wildfire zone, received a nonrenewal notice from State Farm in November 2024 — months before the Los Angeles fires ignited. Their coverage would expire in February 2025, and finding a replacement was proving nearly impossible. Then, disaster struck.
February CPI Is Here. Does This Impact My Car Insurance?

1 month ago | bankrate.com | Shannon Martin |Amelia Buckley

Inflation cooled slightly in February, but motor vehicle insurance inflation remains stubbornly high. According to the latest Bureau of Labor Statistics’ Consumer Price Index (CPI) report, the current annual inflation rate is 2.8 percent — higher than the Fed’s goal of 2 percent but lower than the January year-over-year rate of 3 percent. Auto insurance prices rose 0.3 percent for the month of February and 11.1 percent for the year.