Why Auto Insurance Rates Increase
No one wants to get a notice in the mail that there auto insurance rates are going up, yet this is something they are faced with each year when it comes time to renew their car insurance rates.
Why do rates go up? Auto insurance rates can go up for a wide variety of reasons. One of the most common reasons why we experience industry wide increases is because of the high rate of auto insurance fraud. This is a serious issue that is costing insurers, and drivers, millions of dollar each year. Even if nothing has changed in your life or on your driving record, you could be affected.
Another reason why auto insurance rates increase is because there was some sort of change with your life or your driving record. Things like moving to a new home, getting a new car, or adding your teenage driver to your policy can all impact your rates and cause them to go up. Also, things like getting a couple tickets, making a claim because of a break in or vandalism, or getting into an accident can also cause your rates to go up.
If you are concerned about your rates going up, the best thing you can do is work with an insurance broker, like HUB Insurance Hunter. We do the hunting to find you the lowest rates on car insurance. With us you will get 3 quotes in 3 minutes. It is that quick and easy. Get your quote today and save money.