240-644-6000
Servicing DC, MD & VA

Rising Auto Insurance Prices

June 1st, 2017 | No Comments | Posted in Family Health & Safety, inSIGHTS

Although gas prices are low and job rates are rising, these factors are pushing auto insurance rates up. That’s because as people begin to drive more, car insurance claims and insurance payouts rise accordingly.

The National Safety Council (NSC) estimates that auto fatalities rose an estimated 8 percent last year, which is the largest increase in over 50 years. Additionally, the Insurance Research Council has found that the average cost per auto insurance payout is over $15,500—an increase of over 30 percent. As a result, many insurance providers have raised premiums, and you may see higher prices regardless of your driving record.

To save money on your auto insurance, consider raising your deductible and driving a vehicle with extra safety features. Also, be sure to contact Hodge, Hart & Schleifer today. We can work with you to find an insurance policy that best fits your unique needs.