Over the last five years, Texas has reportedly led the U.S. in auto insurance premium increases
DALLAS — Many Texans shopping for what they consider to be affordable automobile insurance have been finding that to be a dead-end street. Why? There are many factors. A big part of the problem is the way we drive. If you are out on Texas roads, you have seen the problem. Maybe you’ve even been the problem., we can see that California had 27,113,000 licensed drivers compared to 18,298,000 in Texas. California also had far more registered vehicles compared to Texas .
Still, the total in the Lone Star State was almost as many thefts as the combined totals of the final four states in the top 10: Missouri , Georgia , Ohio and New York .That might make you grip the steering wheel tighter. It also makes insurance premiums rise. Insurers hate that stat and all of the things listed above, because these problems increase the risk that they will have to pay out more in claims.
And that was even as they were raising premiums. That’s not a sustainable business model. So, buckle up. With numbers like those, it wouldn’t be surprising if we saw more increases ahead.It can help tremendously to shop around for insurance. Many times, a competitor may try to entice you and might offer a lower premium than your current one. So, I do that periodically. And you don’t have to wait for your current policy end-date to shop and switch.
It can also be beneficial to be married Oddly, that can help.I realized some savings by increasing my collision and my comprehensive deductibles. Those are the amounts I have to pay if I file a claim. The lower the deductibles, the higher the premium, and vice versa. I didn’t like adjusting those, but it made a noticeable difference.is where the insurer gives you a device to put in your car and/or where you use your cell phone to monitor how much you drive, how often you brake hard, or speed.
I’m not ready to take that step yet. But admittedly, when I recently shopped around, those programs offered lower premiums. One insurer was willing to drop the premium by as much as 30% over time if I was considered a great driver.found last year that 17% of customers are giving it a whirl, more than double the number who signed up in 2016.
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