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My Auto-Owners policy is up for renewal at the end of this month and my new policy for the next 12 months went down $2.47 a month, and nothing changed, except my car is a year older!
I always pay in full for a year to get a discount and my last policy was $762.84 for 12 months and my new policy is $733.22. So there's my anecdotal evidence!
Also remember, it's better to shop around for insurance every 2-3 years. Being loyal to one company will cost you more actually. Auto insurance industry is very competitive so it's good to shop. See below:
Mine had been gradually going up for a few years. I changed to a different ins co and it went down almost 50% for the exact same coverage! I was shocked.
We've been warned for years that insurance premiums would rise not only because of the increase in accidents, but the cost of repairs are rising as well. This should expected as the average priced new car is now over $33K. Cars are designed to be sleek and design oriented, unfortunately a small bump at 8mph can do costly damage to headlamps ($2,000), laser/radar cruise control modules, headlamp washers, intercoolers, parking sensors, rear-view backup cameras, air bags, etc. It wasn't that long ago that cars had exposed bumpers with rubber defenders. Nowadays cars have $500 bumper covers with $1,000 paint jobs, and a lot more technology that is expensive to replace. It would be nice if we upped the requirements for licensed drivers to help reduce the frequency and costs of accidents.
For those who have a menial job and a junk car, why should they bother with insurance? Since they probably have no assets to speak of, no one is going to bother suing them in case of an accident. Law enforcement doesn't seem to care, even though it's the law to have insurance. Sure, they might ticket them if stopped, but chances are the uninsured drivers won't pay the fine. The system needs to be changed to favor the law-abiding citizen.
In Arizona you lose your drivers license for at least 6 months if you do not have proof of insurance.
First time in years that my policy went down. Most 6 months, it was a consistent $25-75 a year increase. My last renewal with Nationwide was almost $100 month increase so I dumped them for Travelers.
Most companies here blame the increase on text while driving and more accidents due to the economy coming back.
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