Why is my auto insurance going up?
If you haven’t already noticed, you ARE paying more for auto insurance.
It isn’t a secret. Rates have increased and it isn’t a mystery why. Think about the big picture, and you will understand.
Loss ratios. I repeat loss ratios. It’s the ratio of claims paid out vs. the premiums collected by a company.
Companies paying claims is like…
Distracted driving. You know you do it. Don’t pretend you don’t. STOP IT!
Click to make your pledge to end distracted driving today.
Lower gas prices = more people on the road and more miles being driven increases the probability of getting into an accident.
“Fender Benders” are no longer just about replacing a fender. Vehicles are complicated and expensive.
Safeco’s reasoning behind auto rate increases
- Shop. Contact an agent and ask advice. That’s what we do.
- Verify your annual mileage per vehicle is accurate.
- Increase deductibles.
- Think about removing physical damage coverage on older or lower value vehicles.
- Ask about all available credits.