Residents in the Pryor, OK area understand the importance of good auto insurance. Periodic rate fluctuations, however, can be frustrating. What are some of the reasons you might see a sudden increase in your auto insurance premiums?
- Inflation. As the value of currency changes, insurance companies need to adjust their rates to keep up. This could increase your rates by a few dollars.
- Your location. Where you routinely choose to park your car impacts your rates. This is because some areas are more prone to vandalism, accidents, and thefts. If you’ve recently moved, you may see your premiums rise in response to your new location.
- You’ve gotten older. As you age, your abilities change. Insurance companies may adjust your rates to account for the increased possibility of an accident due to the effects of aging, The experts at Safe Insure Plus, LLC can help you understand what kind of impact your age might have on your insurance rates.
- You’ve been involved in multiple accidents in a short period of time. This one is pretty obvious. Your premiums are based on your probability of getting into an accident. If you frequently file claims, your insurance provider might need to raise your rates to protect their own interests.
- You keep switching companies. Longevity matters, and the longer you stay with a company, the less likely they’ll raise their rates. Those who frequently switch companies or go long periods without coverage are considered to be higher risk, and therefore need to pay more for coverage.
- You bought a fancy new car. Newer model cars filled with futuristic features are fun to drive. They are also expensive to replace. Your premiums are, in part, based on the cost to repair or replace your vehicle.
- You have too many traffic violations. Getting several tickets for moving violations shows a pattern of reckless driving, which can drive your monthly premiums sky-high.
Are you confused by your auto insurance rates? Talk to the professionals at Safe Insure Plus, LLC. We serve the auto insurance needs of residents in the Pryor, OK area. Let us help you understand exactly what you’re paying for in your auto insurance coverage.