Over the past few years auto insurance rates across the industry have continued to climb. Auto insurance carriers reported record losses during 2016. Many of our clients ask us why the rates are increasing and there are many factors. We've listed several below that have contributed to these increases.
- More injuries and more fatalities - In 2016 traffic fatalities increased by 6% to a 10 year high. The cost of crashes including injuries and property damage increased 12%. (Washington Post.com)
- More Distractions - 660,000 Americans are using cell phones and other electronic devices while driving and any given daytime moment (Distraction.gov.)
- More cars are on the road. A record high 17.6 million new cars were sold in 2016
- More Social - 74% of drivers use Facebook while driving (NSC.org)
- More Technology - High-tech expensive auto parts including xenon headlights, sensors, collision avoidance systems and cameras have resulted in an increase in claim costs
We would be happy to review your policy and make sure you are getting all applicable discounts. We have a number of discounts available and can also review deductibles and coverages to make sure you are getting the most for your insurance premium dollars.