Why Is My Car Insurance So High?

A number of recent trends have caused insurance rate increases throughout Florida and the rest of the country. Inflation has possibly had the biggest impact — as the cost of goods and services went up, so too did the cost of protecting drivers on the road. Here's a quick look at what can impact your car insurance rates.

Why Auto Insurance Rates are Increasing

Repairing and replacing vehicles costs more

The auto industry has seen its share of labor shortages and supply chain disruptions over the past few years. Strained supply chains also caused prices for auto parts and vehicles to spike dramatically. Altogether, these factors led to a significant increase in the cost of vehicle repairs and maintenance.

As car repair costs still rose overall in recent years, the amount insurers pay to fix vehicles also went up. Likewise, as vehicle values rose, insurance companies paid more to help replace their customers' totaled cars and trucks, all of which increased the cost of auto insurance.

Accidents increased, leading to more claim costs

The number and severity of car accidents increased in recent years, leading to more, and more expensive, insurance claims. This, coupled with higher vehicle repair and replacement costs, ultimately drove insurance rates up throughout the country.

Storm damage is more severe

As noted by the National Centers for Environmental Information, the frequency of costly weather events has grown in recent decades. These storm damage increases have led to more, and more expensive, storm-related insurance claims. This can mean higher insurance rates as the expected costs for future storm-related claims also rises.

There are many factors that can affect your car insurance rate. If you have questions about a recent rate increase, please contact us. We'll answer your questions and help you find ways to save on your auto insurance policy!

Ways to Save

How you can lower your insurance rate

We're here to help you save as much as possible on auto insurance. Here are just a few steps you can take to lower your car insurance rate:

Maximize your discounts

See which auto insurance discounts you're eligible for that you aren't taking advantage of yet. These may include homeowners, email verification, and low vehicle mileage.

Monitor your driving habits

Many insurance companies now offer vehicle devices or phone apps to personalize your car insurance rate based on your driving habits. These devices are easy to plug into your vehicle or install an app on your phone. The safer you drive, the more you could save!

Review your policy

Call us at 305-266-5080 to see if there are any policy tweaks you could make to save more. Updating your education level, employment, and driver status may make a big difference in your rate!

Explore your payment options

Paying in full or setting up automatic payments can easily save you more with a discount.

Call us for quote or if you have a policy with us, we can help you update your policy so you can save even more!