The cost of car insurance has been rising in recent years, and this trend is expected to continue. In 2023, the average annual cost of car insurance in the United States is nearly $1,700, up 17% from the previous year--the highest number since 1973.
Why is the cost of car insurance on the rise? Here are a few theories.
The cost of new and used cars has been rising sharply in recent years. This is because of a number of factors, including supply chain disruptions and chip shortages. When the prices of vehicles increase, insurance companies have to charge higher premiums.
The cost of repairing cars has also been going up. This is because of number of factors, including the increasing price of parts and labor.
Inflation is also contributing to the rising cost of car insurance. As the cost of goods and services rise, insurance companies have to pay more to run their own business. This means they have to charge higher premiums to make a profit.
How Do You Get a Good Price on Car Insurance?
So, what can you do about the cost of your car insurance?
1. Shop around.
Insurance prices vary from company to company, so take your time shopping around to find the best price you can.
2. Bundle your home and auto insurance.
Some insurance companies offer discounts when you purchase an auto insurance policy along with a homeowner’s or renter’s insurance policy. If you can bundle for a better price, consider it!
3. Take an insurance discount course.
One of the best ways to save on car insurance is to take an online Insurance Discount course! Safe2Drive’s Insurance Discount courses are a fun and convenient way to save money on your car insurance. Check with your insurance company to see how much of a discount you can receive from completing one of our courses.
Even though insurance costs are on the rise, there are some options for saving on your insurance premiums. We hope these tips help you get the best price possible!
Are you interested in learning more about traffic safety?
Are you looking for defensive driving and traffic school courses? Do you want a discount on your auto insurance? Do you know a teen who’s ready to take an online driver education course?
Safe2Drive is here to help! We offer convenient online courses for drivers of any age! Visit our website today to learn about the online courses we offer in your state.