Auto Insurance Prices -- What's the Story?

July 20, 2017
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Auto insurance rates are up across the board....why?

Most of my clients will vent frustration with seeing double digit rate increases because they specifically did not have any accidents, get tickets or file claims. So why in the world would your insurance company raise "your" rate? The answer that no one wants to hear is that the insurance company did not raise "your" rate, they raised everyone's rate.

Some reasons cited by claims managers for increased rates are:

  • Personal Injury Protection fraud -- This is an ongoing issue in our state.
  • Increased cost of a "fender bender" -- Bumpers, mirrors and windshield's in today's cars are loaded with technology, so the "fender bender" is no longer a minor issue.
  • Totaled vehicles -- The crash of the housing market in 2007 forced many families to hang on to the family car longer than normal, meaning that these cars on the road today are more susceptible to being totaled by the insurance company even in minor accidents.

Some insurers are taking larger rate increases than others in an attempt to re-balance their book of business and account for future losses, which means that you, the consumer need to be aware and on the lookout for a policy that fits your needs and budget.

The good news is that Galt Insurance Group never represents just one auto insurer. We work with more than ten of the nation's leaders in auto insurance and are constantly looking for the best rate possible for you and your family. One insurer has a large rate worries....perhaps another will save you that money and more. This is the advantage of being with an independent insurance agency like Galt Insurance Group.

Call one of our awesome agents today to get your custom quote. You will be happy you did:)