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Expert Tips for Maintaining Your Car Engine Understanding Auto Insurance: A Comprehensive Guide Unveiling the World of Used Trucks: A Comprehensive Guide Classic Cars that Once Embodied National Glory Brake Repair: DIY Vs. Professional
Jun
2022
15

Can I Change My Car Insurance Policy At Any Time? | Auto Insurance

Whether you want to adjust your current car insurance policy because your coverage needs have changed or you want to switch insurers to save money, most companies make it easy to do so. Here’s what to know before you change your auto insurance policy.

Yes, in most cases you can change your auto insurance policy whenever you want – you don’t have to wait until the policy renewal period. To make changes to an existing policy, such as adjusting your current coverage limits or adding a teen driver, all you need to do is call your insurer’s customer service number or speak with your local agent. In most instances, any policy changes will take effect immediately, although you will be required to pay for any resulting increase in your premium upfront.

You can also switch car insurance companies at any time.

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Jun
2022
13

How to put the brakes on rising car insurance costs

InvestigateTV – Auto insurance rates are not immune to inflation, as experts are predicting the price will rise for many in 2022.

Several major auto insurers, including Allstate, Progressive, Geico and State Farm, already increased rates in early 2022 in many states, according to Bankrate.

Rod Griffin, a senior director of consumer education and advocacy with Experian, says 1 in 4 Americans is increasing worried about inflation.

“With the gas pump and the groceries and everything that we’re spending money on, it’s true for car insurance as well because the price of bumpers and vendors and cars themselves are increasing and that’s going to be passed on to us as consumers.”

So how do you work to cut auto insurance costs? Griffin has two suggestions: don’t get in any accidents and shop around.

You can ask your insurance company directly for available discounts for things like bundling auto and home

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Jun
2022
11

Auto Insurance 2022 Rate Increases and Predictions

The inflation that is making life difficult for consumers is also impacting car insurance companies. Across the nation, auto insurers are filing rate changes, many of which are rate increases. According to data from S&P Global Market Intelligence, the average rate increase in filing is about 4.9 percent. This means that, with the average cost of car insurance at $1,771 per year for full coverage, consumers could soon pay as much as $1,858 annually for the same coverage. To help you prepare for the coming increases, Bankrate dug deep into the data to find out which states are the most and least impacted by rate increases.

Key insights

  • Minnesota approved the highest 2022 rate increase, at 14.0 percent.
  • New York, Louisiana and Nevada policyholders may experience the highest premium impacts after rate increases take effect.
  • Rates will likely continue increasing in 2022 due to inflation and increased insurance claims.

Approved

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