By James MartinThe US auto insurance industry is set to get a big boost in terms of premium subsidies this year as the Trump administration tries to boost consumer confidence by promoting the idea of a “shared responsibility” approach to car insurance.
But one thing that is not expected to be part of the deal is the new government-backed insurance offered by usaa, the US insurance company owned by the US Department of Energy.
Weaa’s US insurance premiums are set to be increased by $150 (£88) per year.
The increase will take effect from January 1 and is designed to allow for some extra funding for some of the state-based car insurance companies that are struggling to compete in the US market.
The $150 premium increase will apply to usaa insurance plans.
In total, it will add up to $2,750 a year, which is a big increase for usaa compared with last year’s premium increases, when the company’s premium was $1,800 a year.
The increase is part of a broader increase in US auto-insurance premiums over the next few years that is designed in part to help the US car insurance industry improve its financial performance.
Weaa is one of the biggest US car insurers.
It offers a wide range of policies in a number of different states.
“We are excited to announce that the new insurance rates are now available to all our customers, beginning January 1, 2018,” the company said in a statement on Monday.
“We have long said that our insurance is better for our customers than the government-run companies, and we look forward to seeing how it will work for all our policies.”
But weaa said the $150 fee increase is not a new subsidy to customers, and that the company is working to increase its insurance offerings across the country.
This is partly because the company expects to need more than $1.5bn (£1.3bn) to cover its costs this year, and is already paying out more than half that amount.
The company is also looking to improve its overall financial performance, and the US auto insurers have been doing that by lowering the rate they charge for their policies.
Last year, weaa paid a premium rate of just $300 a year on policies in the 50 states and the District of Columbia, which are about 10 per cent lower than the average rate paid by the industry.
On Monday, the company announced that it would pay an additional $1bn in annual premium increases of up to 3 per cent this year.