Why Is My Car Insurance So Much?

  1. 16470 POINTS
    David Osgood
    Agent, Rural Mutual Insurance Co., Union Grove, WI
    Each carrier sets its own rates. Those rates are based on many factors. Some of those factors are: ages of the drivers to be covered, MVR records of drivers to be covered, geographic location, coverage amounts, amount of driving of covered drivers, number of vehicles covered, make, model, and year of vehicles covered just to name a few. If you feel that your rates are too high contact local agents in your area to receive free comparison quotes for coverage.
    Answered on October 26, 2013
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  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Auto insurance is a shared risk.  That means that thousands of other people are working together to provide protection for everyone in the group.  The annual cost for each member of the group is the premium.  The premium reflects the anticipated expenses of the group for a year.  It really is as simple as that.  Insurance companies have learned how to adjust the costs when the risk for one member is greater than another.  However, this is still a matter of statistics and is not a personal evaluation of the car or driver.
    Answered on May 29, 2014
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