By Jeff Lawver | June 3, 2019

Why Is Auto Insurance So Expensive?

Speaker 1: Hey, this is Kelly with Insurance of the Carolinas and I’m here to answer a commonly asked insurance question. One that you might not be surprised that we get a lot is, why is auto insurance so expensive? Or why is my auto insurance increasing?
The bad news is there are a lot of factors that go into calculating the auto insurance rates, but for a few examples on a personal level, things that can impact your insurance include: accidents and violations on your record, if you have an inexperienced operator in your household, even living in a different area can cause your auto insurance to increase if it’s more populated, there are more cars and accidents. That can cause your rate to go up. On a broader scale, it’s important to remember that insurance is the spread of risk. So the cost of cars in general is increasing. An accident now costs a lot more to repair than it used to because the value of cars has just gone up in general. Also, there have been so many hurricanes and natural disasters this year. We often think about the homes that were impacted, but there were a lot of cars that were damaged in those natural disasters as well.
The good news is the best way to keep your rate low is to give us a call and have a chat. The more we know about you the more we can know what discounts you’re eligible for, and we can match you with a company that will have the best rates for your exact situation and your needs.
I hope that answers your question, and have a great day.



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