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Why Is Car Insurance So Expensive?
  + stars: | 2024-05-15 | by ( Emily Flitter | ) www.nytimes.com   time to read: +1 min
If your car broke down two years ago, it probably became a bigger problem than you bargained for. A confluence of forces were to blame: The Covid pandemic disrupted supply chains, pushing used car prices to record highs and making spare parts hard to get; out-of-practice drivers emerging from lockdowns caused more severe wrecks; and technological advancements like motion sensors made even the simplest parts, like a fender or a rim, expensive to replace. Things have since improved for car owners — except when it comes to insurance bills. Car insurers are still raising prices steeply: The price of motor vehicle insurance rose more than 22 percent in the year through March, the fastest pace since the 1970s, according to the Bureau of Labor Statistics. According to calculations by the Insurance Information Institute, a trade group, the average 12-month premium for car insurance was $1,280 in 2023, the industry’s most recent figures.
Organizations: Bureau of Labor Statistics, Insurance Information Institute
Virtually every new vehicle sold in the last few years has sensors and cameras, including radar and sonar, throughout the body of the vehicle. These have made the repair process more complex because, unlike a smashed fender, a sensor or camera can’t just be bolted or welded back on. Some of these systems can cut crash rates in half, said Greg Brannon, director of automotive engineering at AAA. In a crash, these sensors and cameras can be damaged or just knocked out of alignment. Claim adjustors, who often come from the collision repair industry themselves, need to understand all the nuances involved in repairing these automated systems and sensors.
Persons: It’s, , Todd Dillender, Greg Brannon, “ They’re, Brannon, , Hami Ebrahimi, ” Ebrahimi, Ebrahimi, That’s, Dillender, adjuster, Mike Bunda, We’ve Organizations: CNN, Auto, AAA, Systems Locations: United States, Chicago, Seattle, New York
Screenshot of used Tesla listing from Hertz Car Sales website. Hertz Car SalesIt's a screaming deal for shoppers in the market for a used Tesla or any budget-minded EV shopper, a demographic slowly making up most of the electric car market. AdvertisementMileage and battery usageA used Tesla that has been in a rental fleet is likely to used much more frequently than one that's been personally owned. You can see that in the difference in mileage when you look on Kelley Blue Book for a used Model 3. Screenshot of a used Tesla Model 3 listing on KBB Business InsiderAnother $20,125 Model 3 we found on the Hertz website in January, a 2021 model, was listed with 92,789 miles.
Persons: , Hertz, Kelley, Tesla, iSeeCars Organizations: Service, Hertz, Business, Tesla, KBB, EV, quicken Locations: Southeast Michigan
RobertCrum | Getty ImagesDETROIT – Skyrocketing auto insurance costs helped contribute to inflation accelerating at a faster-than-expected pace in March and are adding to the ever more expensive costs for U.S. vehicle owners. Auto insurance costs have been on the rise for some time, growing every month as part of the index since December 2021. However, auto insurance remains a small portion of the CPI, with a 2.85% weighting. watch nowThe insurance cost increases on inflation come more than two years after the Biden administration largely blamed used car prices for pushing inflation higher in January 2022. The cost of vehicle insurance — which is mandatory in almost every state — varies by provider, driver, coverage and location.
Persons: Sean Tucker, Kelley, David Sampson, Sampson, Biden, Mitchell, Power, , it's, Price, Mark Garrett, — CNBC's Robert Ferris, Jeff Cox Organizations: Getty, DETROIT, U.S, Auto, U.S . Bureau of Labor Statistics, American, Casualty Insurance Association, CNBC, Progressive, Power's U.S . Auto Insurance, State Farm, Liberty Mutual Locations: U.S, Power's U.S, Geico, .
The Francis Key Bridge collapse has ignited debates about the safety of America's infrastructure. AdvertisementThe 984-foot container ship that caused the Francis Scott Key Bridge to collapse has raised questions about whether the structure could have been saved. AdvertisementAs the city grapples with the fallout, discussions have started to grow around the bridge collapse. A bridge engineering expert also pointed them out to the Sydney Morning Herald in an article discussing whether a similar bridge collapse could happen in Australia. Gao said that more robust protections "could have potentially prevented the bridge collapse."
Persons: Francis Key, , Francis Scott Key, Dali, Donna Deegan, Colin Caprani, Mimi Gao, Donald O, Francis Scott Bridge, BRENDAN SMIALOWSKI, Wes Moore, Pete Buttigieg, Gao, Tim Broyd, Broyd Organizations: Service, Dolphins, Jacksonville, Dame, Sydney Morning Herald, Sunshine, Singapore Chamber of, Ships, New York Times, Getty, Maritime, Port Authority, Maryland Gov, University College London, UK's, of Civil Engineers, Engineers Locations: Singapore, Port, Baltimore, Florida, Australia, Port of Baltimore, AFP
Rock wall No obvious fender system Island Barrier Fender No obvious fender system Rock wall Island Barrier FenderHow Fenders Might Have Protected Against Bridge CollapseThe Francis Scott Key Bridge did not have an obvious fender system, or protective barriers, to redirect or prevent a ship from crashing into the bridge piers. Francis Scott Key Bridge Patapsco River Pier No obvious fender system Francis Scott Key Bridge Patapsco River Pier No obvious fender system The New York Times; aerial image via NearmapEngineers point out that some other bridges have more robust barriers. The Verrazzano-Narrows Bridge in New York City has rock walls surrounding its piers. Verrazano-Narrows Bridge New York Harbor Pier Rock wall STATEN ISLAND Verrazano-Narrows Bridge Pier New York Harbor STATEN ISLAND Rock wall The New York Times; aerial image via Vexcel ImagingIsland barriers were installed around the Sunshine Skyway Bridge piers in Tampa Bay, Fla., after a ship crash caused the span’s collapse in 1980. Sunshine Skyway Bridge Tampa Bay Pier Island barrier Sunshine Skyway Bridge Tampa Bay Pier Island barrier The New York Times; aerial image via Vexcel ImagingEven smaller bridges like this one near Cape May, N.J., have fenders.
Persons: Francis Scott Key Organizations: New York Times, Nearmap Engineers, Sunshine, Sunshine Skyway, Creative Composites, Times Locations: New York City, York, Pier, STATEN, Tampa Bay, Fla, Tampa, Cape May, N.J, county
AdvertisementThat's when I turned to credit cards to pay for my fertility treatments. AdvertisementMy credit became the answer we neededI got an offer in the mail from a credit card company. At my "advanced maternal age," I had less than a 40% chance of IVF success. I didn't have the available credit to keep writing credit card checks. While it ended up taking several years to pay off the debt because I quit the second job after I had the baby, I have no regrets about using credit to pay for my fertility treatments.
Persons: IUI, bender
The trove of investigation documents released Thursday includes a timeline of images from Mohamed Barakat’s apartment and surveillance cameras that map his movements before the July 14 shooting as officers investigated a routine traffic crash. Barakat shot and killed one Fargo police officer and wounded two other officers and a bystander before a fourth officer killed him in an exchange of gunfire. Images taken from video on the night before the shooting show a tactical vest on Barakat's apartment floor, Barakat checking his door while holding a gun and a cellphone, and later assembling a short-barreled shotgun. Much of his subsequent movements involved driving around Fargo, returning several times to his garage and at least twice to his apartment. A fourth officer, Zach Robinson, fired back with a 9 mm handgun, shooting the clip of Barakat's rifle and effectively disabling it.
Persons: Mohamed Barakat’s, Barakat, he’s, General Drew Wrigley, Wrigley, ” Wrigley, Jake Wallin —, , Andrew Dotas, Tyler Hawes, Zach Robinson, Robinson, Claudia Lauer Organizations: N.D, North Dakota, Associated Locations: BISMARCK, Fargo , North Dakota, Fargo, Syrian, U.S, Downtown Fargo, Philadelphia
EV fires are harder to put out. Water damage can cause fires even after your car dries out. AdvertisementAdvertisementCar fires have always been dangerous and difficult for firefighters, but highly combustible chemicals in electric car batteries are posing new challenges. Even after an EV battery fire appears to be extinguished, lingering energy stored in the battery can cause these dangerous runaways. O'Connor spoke with Insider this week to provide advice about what to do in the event of an electric car fire.
Persons: , Brian O'Connor, O'Connor, It's Organizations: Service, EV, National Fire Protection Locations: Florida
CNN —A New York City man accused of fatally beating a 66-year-old Sikh man following a car collision nearly two weeks ago was arraigned Tuesday on a slew of charges, including hate crimes, prosecutors said. Singh suffered a brain injury and was taken to a hospital, where he died the next day, the news release reads. Jasmer Singh, a 66-year-old Sikh man, died on October 20 after sustaining a brain jury, prosecutors say. Moloney's Lake Funeral Home & Cremation CenterThe incident was not initially investigated as a hate crime, a New York Police Department spokesperson said. During a verbal argument that followed, Augustin became angry with Singh and referred to him several times as “turban man,” prosecutors said, citing the witness.
Persons: Gilbert Augustin, Jasmer Singh, Melinda Katz, Augustin, Singh –, Singh, ” Katz, , ” Augustin, , James Concemore Neville, ” “, ” Neville, Augustin get Organizations: CNN, New York Police, Prosecutors, Augustin’s Locations: York City, Queens, Queens County, Van Wyck, Queens ’ Jamaica
A man accused of beating a 66-year-old Sikh man to death after a minor car crash this month was motivated by “rage inflamed by hate,” the Queens district attorney said on Tuesday while announcing that the killing was now being prosecuted as a hate crime. The man charged in the killing, Gilbert Augustin, repeatedly called the victim, Jasmer Singh, who was wearing a turban as part of his faith, “turban man” before attacking him brutally, the district attorney, Melinda Katz, said in a statement. The killing of Mr. Singh occurred amid what New York police officials have described as a wave of reported hate crimes in the city since the war between Israel and Hamas began. Image Jasmer Singh, who was beaten to death in Queens earlier this month after a fender-bender. The deadly encounter between Mr. Augustin, 30, and Mr. Singh, both Queens residents, happened just before noon on Oct. 19, after Mr. Singh’s car collided with Mr. Augustin’s on the Van Wyck Expressway, Ms. Katz said in her statement.
Persons: Gilbert Augustin, Jasmer Singh, Melinda Katz, Mr, Singh, Augustin, Augustin’s, Katz Organizations: New York, Hamas, Mr Locations: Queens, Israel, Van Wyck
Elon Musk’s worst nightmare
  + stars: | 2023-10-12 | by ( Adam Rogers | ) www.businessinsider.com   time to read: +13 min
It's hard to tell, for a simple reason: The data on the safety of robot cars sucks. Until robot cars have traveled for hundreds of millions of miles, there's no way to get a statistically significant, unequivocal conclusion. If the data on robot cars is equivocal or incomplete, then those rules should keep them off the road. In a sense, she's Elon Musk's worst nightmare. To her, the safety of self-driving cars is not an abstract question.
Persons: Missy Cummings, Elon Musk, Cummings, Elon, Musk, Tesla, stans, Musk's, , that's, Terry Chea, Big, Waymo, Kyle Vogt, Cruise, Vogt, hillier, it's, Steven Shladover, Missy, She's, she's Elon, Don Quixote, Adam Rogers Organizations: Twitter, Duke University, National, Traffic, Musk's bros, NHTSA, George Mason University, Cruise, Navy, LinkedIn, Waymo, UC Berkeley's Institute of Transportation Studies, San, Boeing, Max Locations: San Francisco, Muskovites, Silicon, Silicon Valley, California
Oct 10 (Reuters) - Two iconic guitars played by Eric Clapton and Nirvana's Kurt Cobain could each fetch $1 million to $2 million when they go up for auction in November. The Beatles' George Harrison gave it to Clapton after his guitar was stolen. The other guitar, also estimated between $1 million and $2 million, is Kurt Cobain's guitar, the "SkyStang I", which Cobain played during his final public performance on Nirvana's "In Utero" concert tour. The auction also features items belonging to Cobain, including his cardigan, jeans, and a pack of cigarettes, all of which he left behind at rehab. There are over 1,000 items going up for auction at Nashville's Hard Rock Cafe between Nov. 16-18 at the "Played, Worn & Torn: Rock 'n' Roll Iconic Guitars and Memorabilia" event.
Persons: Eric Clapton, Nirvana's Kurt Cobain, Clapton's, George Harrison, Clapton, Martin Nolan, Layla, Kurt Cobain's, Cobain, Kurt, Nolan, Martin, cardigan, Nirvana, Amy Winehouse's bustier, Elvis Presley, Frank Zappa, Rollo Ross, Remi Acosta, Lisa Shumaker, Michael Perry Organizations: Julien's, Hall of Fame, Fender, Seattle, Brit, Thomson Locations: Los Angeles
GOP presidential hopeful Vivek Ramaswamy claimed a protester rammed into his car at a campaign stop. Representatives for Ramaswamy's campaign did not immediately respond to a request for comment from Insider. They said there is no evidence to substantiate the claim that protesters intentionally hit Ramaswamy's campaign vehicle and sped off. What Ramaswamy's campaign saysRamaswamy spokesperson Tricia McLaughlin told The Associated Press the campaign stands by its assessment that the driver was a protester. She also stood by her assessment that there were two people in the car that hit the campaign car.
Persons: Vivek Ramaswamy, , Vivek Ramaswamy's, candidate's, Ramaswamy, Tricia McLaughlin, McLaughlin, Elon Musk, Bee, Ron DeSantis Organizations: Local, Service, Republican, Police, Ford Expedition, Associated Press, Honda, Inc, Des, CBS News, Grinnell College Locations: Ukraine, Iowa, Grinnell, Des Moines, Poweshiek County, Chattanooga , Tennessee, Florida
Former biotech executive Vivek Ramaswamy speaks during the second Republican candidates' debate of the 2024 U.S. presidential campaign at the Ronald Reagan Presidential Library in Simi Valley, California, U.S. September 27, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsWASHINGTON, Oct 5 (Reuters) - The Grinnell Police Department on Thursday denied reports that protesters in Iowa ran their vehicle into U.S. Republican presidential candidate Vivek Ramaswamy's car during a campaign stop, but said his car was hit by accident. "It was reported on social media that two protesters intentionally rammed into Ramaswamy's vehicle and fled the scene. It said a local resident was leaving a restaurant when she accidentally hit Ramaswamy's vehicle while backing out of a parking spot. It is unclear whether the image is of Ramaswamy's car.
Persons: Vivek Ramaswamy, Ronald Reagan, Mike Blake, Vivek Ramaswamy's, Ramaswamy, Donald Trump, Ron DeSantis, Trump, Jasper Ward, Sandra Maler, Sonali Paul Organizations: Republican, Ronald Reagan Presidential, REUTERS, Rights, Grinnell Police, Reuters, Republicans, Thomson Locations: Simi Valley , California, U.S, Iowa
"The Boss" is on tour with the E Street Band through December 2023, with tour tickets still on sale for prospective attendees. If you're aiming to buy Bruce Springsteen tickets for the last leg of his 18th headlining tour, we've got you covered. Bruce Springsteen 2023 tour scheduleThe fall tour dates for Bruce Springsteen include 27 remaining shows in the U.S. and Canada. The cost of original Bruce Springsteen tickets vary depending on location and date. Mat Hayward/Getty ImagesThe final leg of Bruce Springsteen's 2023 concert tour includes international dates in Canada.
Persons: Bruce Springsteen, Springsteen, we've, Foxborough, Bruce Springsteen's, Sam Fender, Frank Turner, Tash Sultana, Steven Van Zandt, Mike Weinberg, Garry Tallent, Roy Bittan, Nils Lofgren, Patti Scialfa, Mat Hayward Organizations: Broadway, NY, San, Ticketmaster, Vivid, showtime, Garden, Getty Locations: U.S.A, United States, North America, U.S, Canada, Rutherford, NJ, Syracuse, Baltimore, Pittsburgh, Uncasville, Albany, NY, Columbus, Washington, Vancouver, BC, Edmonton, Calgary, AB, Winnipeg, Toronto, ON, Kanata, Montréal, Quebec, Phoenix, AZ, San Diego, Inglewood, CA, San Francisco, Springsteen's Rutherford , New Jersey, Columbus , Ohio, White Buffalo, Boston , Massachusetts, Europe
It's just too early to tell," said George Glassman, president of Glassman Automotive Group, which sells five automotive brands outside Detroit. Since then, VinFast shares have retreated, and were down 17.2% at $24.92 at midday on Thursday. The new hybrid sales plan is just another challenge and the luxury carmaker is already talking to dealers. U.S. dealers said there are too many unanswered questions, including how VinFast will distribute parts needed to make repairs. Several dealers said VinFast may need to offer sweetened profit margins to dealers to account for the added risk.
Persons: It's, George Glassman, VinFast, Le, Thuy, Scott Fink, I'm, Tesla, Andrew DiFeo, Augustine, Warren Browne, Rhett Ricart, Dealers, it's, Ricart, Beau Boeckmann, Boeckmann, Ben Klayman, Phuong Nguyen, Matthew Lewis Organizations: Nasdaq, U.S, Reuters, Glassman Automotive, Ford, General Motors, U.S ., Fink Automotive Group, VW, Subaru, GM, Hyundai, Ricart Automotive, Toyota, Honda, Galpin Motors, Thomson Locations: U.S, North America, Detroit, VinFast, Tampa , Florida, St, Jacksonville , Florida, Columbus , Ohio, Los Angeles, VinFast's, Vietnam, Hanoi
I SPY The footage taken by a dashboard camera can prove helpful if you end up in a crash. Illustration: Richard BorgeHOMEOWNERS CAN add a video doorbell to confirm deliveries have arrived or to rebuff persistent evangelists and their pamphlets. It’s that kind of digital eye that Tim McCullough wishes he’d had in his vehicle during an incident five years ago. “It was just a fender bender,” said the 44-year-old supervisor at a pool service company in Rancho Cucamonga, Calif. “But I had detectives show up to my office.”
Persons: Richard Borge, Tim McCullough, he’d, Organizations: CAN Locations: Rancho Cucamonga, Calif
A Rivian owner said repairs cost $42,000 for his R1T after a fender bender, according to The New York Times. But, after the electric car was taken to a repair shop that was certified to work with Rivian products the cost jumped to $42,000, the publication said. The repair cost over half the starting price of the vehicle. Last year, a study from CCC Intelligent Solutions found that on average EV repairs cost more than repairs for gas-powered cars. Another report from Mitchell that was cited by the Times found that last year EV repairs cost about $2,400 more than fixes for traditional combustion-engine vehicles.
Persons: Chris Apfelstadt, he'd, Noe Mejia, it's, Mitchell, Alexa St, John, Insider's Nora Naughton Organizations: The New York Times, Times, New York Times, Intelligent Solutions, Tesla Locations: Columbus , Ohio, North America, Ohio
CNN —An electric guitar smashed up and signed by the late Nirvana front man Kurt Cobain has sold for almost 10 times its estimated value. The instrument was the headlining item in a three-day auction of pieces of rock history. The guitar, which had been reassembled but remains unplayable, was originally valued between $60,000 and $80,000. According to Julien’s Auctioneers, who staged the sale, Cobain smashed the guitar up “during Nirvana’s seminal Nevermind era,” though no specific details were given. In 2020, the guitar played by Cobain during his 1993 “MTV Unplugged” performance became the most expensive guitar ever sold at auction, going for $6 million.
Kurt Cobain's smashed Fender Stratocaster guitar sold at auction for $595,900, more than 10 times its original estimate. The Nirvana frontman's iconic left-handed electric guitar was smashed while the grunge pioneers were making their seminal Nevermind album in the early 1990s. Reassembled but unplayable, it was expected to sell for between $60,000 and $80,000 at the Julien's auction at the Hard Rock Cafe in New York over the weekend. According to Julien's Auctions, Cobain gave the guitar to Lanegan during Nirvana's Nevermind tour in 1992. The guitar Cobain played during a legendary live acoustic concert on MTV Unplugged in 1993, just five months before his death, was sold two years ago for $6 million.
Driving Lamborghini's new off-road supercar
  + stars: | 2023-05-20 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +6 min
I was driving a $380,000 Lamborghini Huracán Sterrato, and I couldn’t help laughing out loud. Lamborghini worked with Bridgestone to create tires using rubber similar to that on Lamborghini’s other performance tires, but with an off-road tread. The idea for it emerged while Lamborghini engineers and designers were having beers after a day driving off-road in a prototype of the Urus SUV. That was a lot of fun, they thought, but wouldn’t driving one of our all-wheel-drive supercars off-road be even better? Even those of us who can’t afford one should perhaps be glad the Lamborghini Huracán Sterrato exists.
Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). In the last two years, my credit cards have saved me over $4,500 on travel — and a lot of hassle. Travel insurance offers peace of mind, but what most people don't realize is that it doesn't have to come at a cost. Here's a detailed look at how my American Express credit cards' travel insurance came to the rescue on two different occasions. Whenever you file a claim, your credit card insurance company will ask for documentation to prove your travel was nonrefundable to approve your claim.
REUTERS/Aly Song/File PhotoApril 27 (Reuters) - Geely's EV brand Zeekr is the latest to join a growing list of automakers that have turned to the "gigapress" die casting technique pioneered by Tesla to slash the cost of electric cars. "In the future, Zeekr will use giga-casting technology on more models," Jiang said. Metal and plastic die casting has long been used in manufacturing, but its application to large aluminium underbodies in carmaking is relatively new. The front and rear sections are then connected with large under-floor battery packs to form a three-piece EV chassis. 'MEGA-CASTING'Other automakers turning to large die casting include General Motors (GM.N), which is using the technology to help design its Cadillac Celestiq electric saloon.
A New Show Celebrates the Guitar and Its Symbolism
  + stars: | 2023-04-25 | by ( Tanya Mohn | ) www.nytimes.com   time to read: +1 min
This article is part of our Museums special section about how art institutions are reaching out to new artists and attracting new audiences. Guitarists and their music — from folk singers to rock ’n’ roll stars and protest songs — figure prominently in American history and culture, but the instrument has a notable heritage of its own. “The guitar itself can have meaning, other than simply being beautiful or making music,” said Mark Scala, chief curator at the Frist Art Museum in Nashville, where “Storied Strings: The Guitar in American Art,” on view from May 26 to Aug. 13, will explore the guitar’s symbolism in American art, from late 18th-century parlor rooms to today’s concert halls. On display will be more than 165 works: paintings, sculpture, photography, works on paper, illustrations, videos, music in multimedia presentations and musical instruments, including a rare cittern, a popular string instrument in the 18th and 19th centuries, and seminal guitars by Fender, Gibson and C.F. Martin & Company.
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