Why is my automobile insurance going up?
5 reasons why auto accidents are on the rise
Property Casualty 360.com MAR 02, 2017 BY DENNY JACOB
One of the questions that I get all the time is why is my insurance going up. My car is older and I did not have any claims. The principle of the many
“The rise in car crashes have been attributed to continued lower gasoline prices and an improving economy which
In addition, the U.S. Department of Transportation’s early estimates
All 10 National Highway Traffic Safety Administration (NHTSA) regions experienced increases during the first nine months of 2016. In particular, the South,
Cheap gas and diesel, plus a stronger economy, has caused high road density with more cars on the road. The Department of Transportation’s Federal Highway Administration shows that driving jumped 3.5 percent over 2015, the largest uptick in more than a decade. Americans drove more than 3.15 trillion miles, equivalent to around 337 round trips from Earth to Pluto. The previous record, around 3 trillion miles, was set in 2007.
Beyond texting and driving, from Bluetooth to Snapchat, approximately 660,000 drivers are attempting to use their phones while behind the wheel of an automobile. On top of that, we now have sensors and technologies that respond to our every move in vehicles. We have apps that connect to center consoles and more touch-screen technology in vehicles than ever before.
A new study from AAA Foundation for Traffic Safety
Think about your grandfather’s car. If the engine blew, you went to a mechanic who fixed the problem. Now, everything in a car is connected
Ultimately, we pay for the technology (computers, advancements in bodywork, HVAC, etc.). To diagnose many computer issues and the dozens of sensors
No surprise, the cost of medical care has increased, most of which are spinal and soft tissue injuries. According to the Mayo Clinic, more than 35 percent of spinal cord injuries are caused by vehicle accidents (truck, automobile, or motorcycle). Think about this — medical spending for spinal care per patient increased by 95 percent from $487 to $950 between 1999 to 2008, accounting for inflation.
But think about the full picture, which compounds the issue. You get whiplash (direct medical cost), have to stay home for a few weeks (loss of income) and get physical therapy (cost of post-injury medical care — according to one estimate, about 25 percent of whiplash injury patients end up suffering chronic pain). The costs can triple from an economic and quality-of-life perspective, costing the U.S. $2.7 billion per year.”
Our Agency reviews each client’s renewal to determine if there is a better option for all our customers. We understand that the cost of insurance may go up due to these factors; however, some carriers’ loss ratio may be better than the industry-wide results, which means better and more competitive rates for our customers.