Why did my car insurance go up?
Auto insurance rate increases may seem to come out of the blue. What happened? Was it something you did? Sometimes it has nothing to do with you. Your state may have passed legislation requiring insurers to adjust their rates. Or your insurance company may be tweaking its risk-to-reward ratio. It invests the money you and others pay in premiums so it can earn money to pay insurers' claims. If it's not earning enough in a shaky economy, it may raise its rates to compensate. More often than not, however, something has changed on your end.
You made a claim
You have a moving violation
A discount has expired
There have been changes in your life
Other seemingly innocent changes can affect your rate as well. Maybe you moved. If your new zip code is associated with a higher theft or accident rate your premium will probably go up a bit. Rates are higher if you live in a city rather than the country or a distant suburb. And, of course, adding a driver or buying a new vehicle will immediately affect what you're paying for coverage.
via Autoblog http://www.autoblog.com
February 7, 2017 at 03:46AM