Ohio Insurance Premiums Increase Following Rise In Crash Claims

A recent increase in auto crashes may be putting dents in more than just cars and trucks. Several insurers have begun raising rates, while others are considering such a move as their costs head higher because of rising claims. Geico, the No. 5 insurance carrier in Ohio with 5.9 percent of the market last year, said in its recent quarterly report that rising claims are having an impact.“As a result, we are implementing premium-rate increases as needed,” said the insurer, owned by Warren Buffett’s Berkshire Hathaway.