Young motorists who are below 25 years of age can easily save around $1,000 annually or even more if they compare premiums from various auto insurance providers, before signing up.

All you need to do is to shop around if you are planning to buy a car and if you are below 25 years of age. You can save some mega bucks by spending some time on research.

In general, auto insurance premiums vary from one insurer to another, irrespective of how old you are. But the difference in premium is quite significant especially if you are a young motorist, states Des Toups who is the senior managing editor with a California-based auto insurance website.

However, if you are about 55 years old then you can save around $456 on an average every year by simply shopping around with different insurers, but someone who is below 25 years of age can save a whopping $1,102 each year.

Toups was quoted as saying that the $1,000 per year was the way you measure the differe ... Read more »

Auto insurance major Allstate has struck a billion-dollar deal with plans to buy Esurance as well as Answer Financial from White Mountains Insurance Group Ltd as it has major expansion plans with regard to its online sales.

Thomas Wilson, CEO is now looking at ways and means to bring in more customers through the rest of the channels like the internet as the younger generation generally avoids insurance agents. Most often, online shoppers opt for insurance coverage from lesser known insurance companies. Allstate seems to have lost a lot of customers due to this since the last 3 years.

Paul Newsome who is the analyst with Sandler O’Neill & Partners LP stated that Allstate had wanted to do this because as their core business had been affected for quite a while. He also feels that these direct channels would act as a growth engine for the insurance industry in the future.

The available cash would be used for the funding by Allstate, according to the prese ... Read more »