The Motley Fool: Car insurance rates keep rising Ask the Fool Insurance up even for old carsQ: Is it my imagination, or are car insurance rates rising, even as my car gets older?
The bottom line is that insurers have been facing rising costs in the form of more claims than they expected.
An improving economy and lower fuel costs have led to more driving, which also increases the number of accidents.
(The Motley Fool owns shares of and has recommended Nike.)
Meanwhile, health care costs have been rising, leading to more expensive claims.
As it stated in
Car insurance rates likely increasing for North Carolina drivers
The North Carolina Rate Bureau, which represents all insurance companies doing business in North Carolina, is pushing for an increased car insurance rate.Your insurance rate could climb almost 14 percent by the end of 2017.
“More than likely the way it’s been going, It’ll be raised,” said Rand.An approved new rate will kick in October 1, 2017.
The last ones occurred in 2001 and 2002.Drivers feel that streak is coming to an end and a hike is imminent.
The rates set in these cases represent the highest amount allowable for all companies to charge.
“I think it’s ridiculous”The bureau says there are several reasons to support to such a sharp hike.
As it stated in If you are being hit by higher insurance premiums it is time to turn the tables on the insurers using these tips to get cheaper car insurance.
Car insurance premiums for drivers in Cornwall are set to rise by up to £75 a year after a recent Government ruling.
Other things that can reduce the price are removing other types of cover including breakdown cover, windscreen cover, cover when driving abroad and the courtesy car option.
And that means insurance premiums are going up for everybody to cover the cost.
It is worth checking if some of the options are covered by your home insurance, travel insurance and AA or RAC membership.
collected by :Olivia Mathio