Tag

Auto Insurance Costs

All articles tagged with #auto insurance costs

"Rapid Increase in Car Insurance Costs: What Not to Do to Save"
finance1 year ago

"Rapid Increase in Car Insurance Costs: What Not to Do to Save"

Car insurance costs have risen by 20.6% over the past year due to factors such as expensive repairs, more accidents, and increased auto theft. Experts advise against reducing coverage to save money, as this could lead to financial risk in the event of an accident. To lower costs, drivers can consider raising their deductible, shopping around for better rates, asking about discounts, improving their credit score, and avoiding decreasing their coverage.

"Uncovering the Surging Costs of Car Insurance in 2024"
finance2 years ago

"Uncovering the Surging Costs of Car Insurance in 2024"

The annual cost of auto insurance in the D.C. area has surged by 42%, far exceeding the national average increase of 26%. Factors contributing to this rise include inflation affecting healthcare supplies and car parts, extreme weather, labor costs, and product shortages. Additionally, an increase in fatal crashes and carjackings, particularly in the District, has led to higher premiums. The cost of repairing even minor damages has also risen due to advanced car safety technology, contributing to the overall increase in insurance costs.