Increase in Car Insurance Rates

By January 18, 2018 Personal Insurance

Has your car insurance premium increased in the last year? If so, you are not alone. It’s possible that you are a great driver and have had no accidents and there was still an increase. While that may not seem fair, there are explanations for what is causing this for insurance carriers. Below are some factors contributing to this:

  • Texting and distracted driving: this is a far to common and widespread issue facing the industry and causing more accidents to occur then in the past
  • Increased medical costs resulting in more expensive claims
  • Car parts are becoming more and more sophisticated and therefore more expensive. Cars have great technology and features now, but the costs to fix them have increased significantly.

At Bennett & Bennett, we review your coverage every year (at least) and will do our best to see that you are with a carrier that provides the best coverage at the best price. Some years there may be increases because of what was mentioned above. We hope that understanding helps to ease the pain of the higher premium and to know that it is affecting everyone, not just you. As always, let us know if you have any questions.