Find Out All About Auto Insurance Rate Increases so You Can Stay Well-Informed

May 11, 2017

Learn about auto insurance rates with help from an independent insurance agency in Chicago.

Auto insurance is a must when it comes to keeping your vehicle safe on the road. You need the right coverage from an independent insurance agency in Chicago to keep you safe. However, it’s important to know that your insurance premiums may fluctuate. Find out what you need to know about auto insurance and why rates increase.

More Drivers on the Road.

In recent years, there have been more drivers on the road. The greater the number of drivers, the greater your risk of an accident. In turn, auto insurance rates have increased. Plus, more people are filing insurance claims, which also increases the price of your auto insurance premiums.

Change of Residence.

When you move, even if it’s across town, your insurance rates may change. Depending on your zip code and the crime rate within your zip code, you could see a change in your auto insurance premiums. The safer the neighborhood, the lower the premium, and vice versa.

Higher Repair Costs.

In the event of an accident, insurance often pays to repair the vehicle. However, new cars are becoming more expensive to fix. Since it’s becoming costlier to repair cars, drivers often see an increase in their car insurance payments.

Traffic Tickets.

When it comes to your auto insurance rates, it’s important to use caution when you drive. Traffic tickets and traffic accidents tend to increase your auto insurance rates. The more of a risk you are to safety on the road, the higher your insurance rates tend to be.

When it comes to your auto insurance, it’s important to get the coverage that you need. Stay well-protected with the right coverage from an independent insurance agency in Chicago. Located in Illinois, Thomas Ward Insurance serves all your personal and commercial insurance needs. Contact us for more information.