Part of being an informed insurance buyer, particularly in today’s day and age, is understanding what’s happening in the market and knowing who you can trust to give you accurate information.
In this blog post, we outline some of the reasons why auto rates have been rising. We also provide our best tips for finding affordable coverage.
The most important thing to remember is that you are not alone. As your local, trusted insurance agency, it is our mission to help you search for eligible discounts and bring your auto policy into alignment with your coverage needs. It is also our job to be as transparent as possible about why the rates are the way they are.
So, let’s get started.
In 2022, auto insurance rates increased an average of 9% for drivers. Unfortunately, these rate increases have continued in 2023.
The reasons are complex and multifold: more accidents, rising medical and litigation costs, more frequent and severe natural disasters and lastly, inflation-driven auto repair costs.
According to research, drivers in the U.S. are expected to spend on average $1,895 more in 2023 for the same coverage they had at the end of 2021.
So, what can you do?
Although many of the issues contributing to rising auto rates are out of your control, there are several things you can try to help reduce the cost of your premium increases.
Consider the following tips to help keep your auto rates down:
Reach out to us to help you find the right policy with all of the above in mind. We can help you shop around and compare several auto insurance quotes to find the right policy for your needs and budget. If you have a good driving record, less expensive insurance options could be available with a new insurance carrier.
We’re here to help. Contact Chalmers Insurance Group today to learn how we can help you navigate the challenging marketplace.