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Your auto insurance goes up for several reasons. For example, if you add a new car to the policy, or add a teen-age driver, your premiums will increase.
Also, if any driver covered on your policy has an at-fault accident, and damages are paid, there is a chance that your rate will increase. However, many policies will "forgive" the first at-fault accident, depending on how long you have been insured with that carrier.
And of course, as the cost of repair to vehicles increases and we see increases in litigation costs, rates could go up.
So...what do you, the consumer do about this? Utilize the phrase "We Shop And You Save." That is...let an experienced broker do all of the hard work for you so you can simply review the best offers. If you decide to apply for a lower rate, the broker and/or their website will be there to help you complete the simple process.
In addition to what was stated above, auto insurance can go up due to legislative reform. In some states there is a catastrophic claims division, which will reimburse insurance companies if they have excessive claims. This fund is collected through your auto-insurance carrier, but goes into a state fund. For example, Michigan has the Michigan Catastrophic Claims Association (MCCA), which costs roughly $176/yr. per auto.
My best advice is to review your bill with your agent and figure out which costs are incurred because of state regulations and which costs come from your insurance provider. Once you have sorted these out you can then figure out if anything can be done to lower your overall insurance costs.
Since I've been around, it seem like all companies raise rates all the time. It is a good rule of thumb to shop your rates every 5 years. I say 5 years as the next company will give you a better rate since you stayed with your last company for at least 5 years.
All insurance companies must file their rates with the states insurance department before they raise them, but they keep going up just like everything else. Keep your driving record clean and your credit good and you should have good rates.
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Also, if any driver covered on your policy has an at-fault accident, and damages are paid, there is a chance that your rate will increase. However, many policies will "forgive" the first at-fault accident, depending on how long you have been insured with that carrier.
And of course, as the cost of repair to vehicles increases and we see increases in litigation costs, rates could go up.
So...what do you, the consumer do about this? Utilize the phrase "We Shop And You Save." That is...let an experienced broker do all of the hard work for you so you can simply review the best offers. If you decide to apply for a lower rate, the broker and/or their website will be there to help you complete the simple process.
My best advice is to review your bill with your agent and figure out which costs are incurred because of state regulations and which costs come from your insurance provider. Once you have sorted these out you can then figure out if anything can be done to lower your overall insurance costs.
All insurance companies must file their rates with the states insurance department before they raise them, but they keep going up just like everything else. Keep your driving record clean and your credit good and you should have good rates.