The average cost of auto insurance increased by 9% to $1,777 per year in 2022, according to a recent report by Insurify. And it expects the rate to increase by another 7% to $1,895 in 2023. If you are interested in saving money on your car insurance, you could consider changing y...
Auto insurance premiums are on the rise - again! Michael Barry with theInsurance Information Institutesays premiums seem to go up on average 6% to 8% every year. He says a number of factors are playing into rates going up, including the fact that many cars are simply more expensive to fix...
You added a new driver to your policy: If you added a new family member to your policy, your rate will likely increase due to the added risk of a second driver. The exact increase will depend on their age and driving history. How to save on your auto insurance premium So your rate...
The driver and I had a cordial chat, he was cited, and his insurance company paid up. And aside from a good story, the whole episode gave me an odd and surprising appreciation for auto insurance. Because even in a simple fender bender, without auto insurance, the whole scenario could’ve...
"As much as people are being impacted by the increase in their insurance costs, it's still not enough for insurers to cover their losses," Rieder said. "Auto insurance has become an unprofitable business for most companies." Despite the forces pushing rates up, the pace of increases is exp...
If you’re like them, you’re probably wondering: “Why is my car insurance so high?” Unfortunately, there’s no single answer. Many factors influence the price you pay for auto insurance. Some might seem obvious, like having a recent speeding ticket on record. But others may be less ...
So what was the reason for the rate increase? According to one insurance expert, there are three reasons why auto rates are going up, even if your own driving record hasn't changed. Inflation hits car insurance First, the cost insurance providers pay to repair vehicles after an accident —...
"Just like home and auto insurance" As for the more than 50% increase in my bill, the insurance company said, "The price hikes are based on the pet's geographic region ... the rising cost of veterinary care in the United States and inflation due to equipment improvements, medication and...
reviewing and managing contracts represents an immense amount of time and, when completed manually, carries the risk of human error. It’s a perfect candidate for innovation: if firms can automate some or all of these tasks, they can dramatically ...
Read the full-text online article and more details about "Why Your Insurance Costs So Much; Your Car's Value Drops Yet Your Insurance Rates Increase. Why?" - Cape Times (South Africa), October 29, 2009Cape Times (South Africa)