Car insurance premiums have surged this year, with no immediate relief in sight. According to experts, the increase is due to a range of factors including adverse weather conditions, the high cost of car repairs, and poor driving habits.
Insurify reports that premiums have risen by 15% so far this year, with predictions indicating an additional 7% increase by year-end. One significant factor contributing to this rise is the cost of vehicle repairs. Kevin Myrick, Vice President of the Insurance Center of Tuscaloosa, notes that while advanced safety technologies are beneficial for accident prevention, their repair costs can be substantial if something goes wrong. Myrick also points out that frequent claims, even for services like roadside assistance, can further drive up insurance costs.
“There are issues that you should handle on your own rather than filing multiple claims,” Myrick advises. “Even frequent roadside assistance claims can lead to increased premiums.”
To mitigate rising insurance costs, experts recommend several strategies. Educating yourself on safe driving practices, bundling insurance policies, removing unnecessary coverage, increasing deductibles for lower premiums, and shopping around for the best rates can all help reduce insurance expenses.
