If you’re like most people, you’re probably not too thrilled about the idea of your auto insurance rates increasing this year. However, while the news may not be great, it’s not all bad either. By being proactive and understanding factors that affect car insurance rates in general, as well as what’s causing the rate increase in 2022, you can take measures to help soften the blow. Nowell Agency auto insurance pros are here to break down what’s going on and offer some tips on how to keep auto insurance rates low in the current insurance climate. Read on for more information and stay ahead of the curve!
Is the Cost of Auto Insurance Rising in 2022?
The short answer is yes. We have dealt with many changes over the last few years and increasing costs is one of them. Auto insurance is no different. About 22 states will see these rate hikes which will cause a predicted auto insurance national average cost increase of roughly 1%. The factors that play into this rising rate revolve around inflation rates and increases in driving after a few quiet driving years, resulting in more accidents and higher premiums. 2020 saw many fewer drivers on the roads due to Covid. Driver numbers on the roads raised slightly in 2021 and are expected to increase even more in 2022 as the world reopens on a greater scale.
Tips for Reducing Auto Insurance Costs
Don’t despair! Despite car insurance rate hikes, those who apply some cost-reducing strategies to their insurance search can still save on auto insurance in 2022.
What determines the cost of auto insurance? The make and model of your car, your driving record, residence location (the state you live in whether you live in a rural or urban area), how many miles you consistently drive, and your coverage selections all play a part in the price of car insurance.
Some tips on how to lower car insurance premiums include dropping some of your car insurance coverage options and increasing your deductibles. While these are particularly effective for lowering your monthly car insurance costs, they may not be the safest option. For overall savings on auto insurance without sacrificing coverage, you may consider bundling all your insurance with one provider. The key to this is shopping around for that one provider who can offer you savings. By doing your homework and carefully comparing auto insurance quotes (or bundled quotes), you can significantly reduce the cost of car insurance.
Best Auto Insurance Rates 2022
Insurance companies have consistently increased rates over the past several decades, and unfortunately, it seems like that trend will continue into 2022. While the amount may seem small, it can actually add up to a lot of extra money over time. With auto insurance rates expected to rise by an average of about 5%, it’s important to find a new and affordable car insurance policy. If you’re looking to save on auto insurance, now is the time to start shopping around for a new policy. Who has the best auto insurance rates? Nowell Agency proudly provides car insurance to residents across the United States. With Nowell Agency, you’re likely to find a plan that’s cheaper than your current policy– one that helps you beat the auto insurance rate hike! Call 601-203-0456 or click to get a free quote from Nowell Agency and start 2022 off with some great savings!
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The Nowell Agency has been my primary agent for many years and they are attentive, well-staffed, and easy to talk to. Their agency has helped me through state to state moves and career change and kept my assets covered.
My very first insurance experience was when I bought my first house and I called the Nowell agency for a quote. I had no idea what I needed or how much and they were so very kind and knowledgeable and explained everything to me in detail which I so much appreciated. That has been 4 years ago and im still a customer never plan to leave.
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The reality of doing business is that your organization is going to face risks. The dangers that threaten your livelihood can result in your business being held accountable for legal and financial responsibilities that can quickly become overwhelming. As a result, many business owners purchase insurance policies for protection against the fallout of such losses. […]