Car Insurance More Expensive Than Last Year

What's Going On?

It's no secret that car insurance rates are on the rise. In fact, the average annual car insurance premium increased by 6.2% in 2019, according to the National Association of Insurance Commissioners. This is the largest increase since 2011. This means that the average American is now paying more for car insurance than ever before.

So, what's causing the increase in car insurance rates? Well, there are a few factors at play. First, the cost of car repairs has gone up. With the rising cost of parts, labor, and technology needed to repair modern cars, insurance companies have had to increase their rates in order to cover the cost of these repairs.

In addition to rising repair costs, insurance companies are also dealing with an increase in the number of claims. With more drivers on the road, there are more accidents, which means more claims. As a result, insurance companies have had to raise their premiums to cover the cost of these claims.

What Can You Do?

If you're feeling the pinch from rising car insurance premiums, there are a few things you can do to help lower your rates. First, shop around for a better deal. Don't just stick with the same insurer you've had for years. Shop around and compare rates from different companies to see if you can get a better deal.

You can also look into ways to lower your risk and make yourself a more attractive customer to insurers. This could include taking a defensive driving course, installing a car alarm, or investing in a monitoring device that tracks your driving habits. All of these steps can help you get a better rate on your car insurance.

Final Thoughts

Car insurance premiums are on the rise, but that doesn't mean you have to pay more than you have to. By shopping around and taking steps to lower your risk, you can find a better deal on your car insurance and save yourself some money.