My Car Insurance Keeps Going Up

Consider your situation certain decisions you make regarding your car can affect your insurance rates.

My car insurance keeps going up. Manage your car insurance costs. Auto accidents and traffic violations are common explanations for a higher price but there are other reasons why your car insurance premiums go up. Your car s make and model e g new cars and sports cars often cost more to insure. Rates are also affected by factors that are completely out of your control like the financial health and solvency of your insurer and the reinsurance.

Make sure you find the car insurance company that offers you the best advantages for your needs. These programs collect information about how you drive how much you drive and when you drive. If you value your car at 500 and that s the estimate you put to your insurers some will mark up the price of your insurance. However if you look at your car and think that maybe it s worth 1 000 that s not so bad in many insurers eyes.

If you are dealing with a direct insurance company or a captive insurance agent you may decide that this is a good time to seek the advice of an independent agent or broker who can check lots of companies for you to find the best price. You re a cautious driver you have no speeding tickets on your driving record and you haven t recently even hit a parked car in a garage. If you get a great deal on your auto insurance consider signing a one year policy to keep your rate as low as possible for as long as possible. First published on the 24 sep 2010.

Discuss them with your allstate agent. Reason 3 insurance goes up if you have a change in your credit. Federal consumer price index data shows that car insurance rates typically rise 3 to 4 percent annually but in december 2016 car insurance rates were up 7 percent from the previous year. Insurance scores are used by many carriers to rate policies.

In order to keep your home insured your insurance company requires that you pay them monthly or annual premiums. Why did my car insurance rate go up. So if you have seen your auto insurance premiums increase you re probably asking why your car insurance went up for no obvious reason. The amount you pay in premiums is largely dependent on your home s location the age of your home and your insurance score.

Insurance companies use this data to personalize your car insurance rate based on your actual driving. Every time your policy is up for renewal the rate can be adjusted which explains why auto insurance goes up every 6 months. If you re feeling frustrated about a premium hike you re hardly alone. Another reason car insurance can go up for no apparent reason is when the named insured has had a change in their credit.

Why does my auto insurance keep going up every 6 months. Here are some suggestions for how you can lower the cost of your car insurance.