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Can You Put the Brakes on Rising Auto Insurance Premiums

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Can You Put the Brakes on Rising Auto Insurance Premiums

Nov 25, 2024

When your auto insurance policy renews, chances are that your premium will be going up, possibly by a lot. Rates vary by state and location, but nationwide, premiums increased more than 20% between May 2023 and May 2024.

Higher vehicle prices and repair costs (including parts and labor), more accidents, a rising number of fraud cases and lawsuits, and severe weather events have affected the bottom line of insurers, leading to across-the-board rate hikes. That's not good news for your wallet, but there are still steps you can take to help make your premium more affordable.

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Investment Planners, Inc.
226 W. Eldorado Street
Decatur , IL 62522

PHONE (217) 425-6340
FAX (217) 425-9581
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