Please ensure Javascript is enabled for purposes of website accessibility
 

FIVE ECONOMIC TRENDS THAT MAY IMPACT YOUR CAR INSURANCE COSTS

FIVE ECONOMIC TRENDS THAT MAY IMPACT YOUR CAR INSURANCE COSTS

Economic-Driven Lifestyle Choices That Can

                                                            Affect Auto Insurance Costs

The survey found the most common car-related, money-saving lifestyle changes consumers made in the last 12 months that could impact their insurance costs were:

  • Nearly 40 percent of respondents are driving less overall and/or taking public transportation more frequently.
  • Close to 20 percent of car owners traded in a vehicle for a lower-priced model or got rid of a second vehicle entirely.
  • Almost 20 percent of drivers have reduced or cancelled their car insurance coverage for immediate financial relief, some without realizing the effect this decision could have on future premiums and devastating economic consequences if they were to be at-fault in an accident while being uninsured.

 

“Choices such as driving less, switching jobs, or even paying off a vehicle can save – or cost –on your car insurance,” says NAIC President and Iowa Insurance Commissioner Susan E. Voss, “When determining where to cut spending now, it’s important to consider the big picture. Some changes will save in unexpected ways, while others may increase your cost down the road.  It’s important to understand what affects auto insurance rates so you don’t overlook opportunities to save or accidently make a choice that provides only temporary savings.”  see Five Reasons

COVID-19

The COVID 19 virus has certainly changed our lives for the short term both at home and at work. Our office is working in compliance with state and local officials and their request to minimize contact with others for the short term so that we can shorten the life of this virus.
As such, our offices will be available by phone or by e mail 8-5 Monday thru Friday. If you need to make an appointment to come by, please call us before you drop by, so we can reduce risk, and take care of our staff and just be safe.
Please don’t hesitate to call us and if for some reason you can’t reach us, please look at our website for carrier contact information. Thank You for your continued business.

Contact us Call Us