Yahoo Finance
•80% Informative
J.D. Power : 31% of car insurance companies in the US enacted a rate increase this past year .
Some states, like Florida , saw rates rise as much as 88% over the past 12 months .
Insurance companies use a credit-based insurance score in their underwriting process to determine rates.
Insurance company losses have hit historic highs as more frequent natural disasters and severe weather driven by climate change generate more claims for larger payouts.
State Farm , one of the largest insurers in the US , received permission to institute more than 65 rate hikes across 29 different states in early 2023 due to extraordinary losses.
VR Score
79
Informative language
77
Neutral language
29
Article tone
informal
Language
English
Language complexity
48
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
10
Source diversity
9
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