Where can I find out why my auto insurance premium is so high?

"Is there someone that can tell me why my auto insurance bill is so high? I pay $2,200 a year on a vehicle that's worth $7,000. I do carry liability at 100/300, as well as full coverage, rental, and roadside assistance.

I've had an accident and a speeding ticket in the past three years. Why can't I find a lower rate?"

Answer
“Your car insurance rate is dependent on many different factors. Your age, type of vehicle, driving record, marital status, and location can all impact your rate.
Since you have had an accident and a speeding ticket within the last three years, it’s likely that these are influencing your rate. Another reason why your rate could be higher is the amount of coverage you’re carrying on your vehicle.
Having a policy with liability car insurance only will always be less expensive than having full coverage. Having additional coverages, like rental reimbursement, can also raise rates.
You should continue to shop around to find the lowest rate available. By getting quotes, you’ll be able to see what rates carriers offer for a variety of coverages. This will give you an opportunity to make adjustments and lower your premium.
If you’d rather leave the hard work of gathering quotes to someone else, use Jerry. This free app can collect quotes from up to 45 top insurance companies in seconds! “
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Emily Maracle
Answered on May 20, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
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