There are a variety of factors that go into determining car insurance rates. One of those factors is your location. Another is the type of vehicle you’re insuring.
Since there was flooding in your area, it’s likely that a significant number of people submitted claims to insurance companies. When this happens, insurance carriers need to reassess their rates—and they often increase rates for all policyholders in an area to protect themselves from any further financial losses.
Beyond this, anytime you submit a claim to your insurance, you can expect your rate to change. Your comprehensive coverage
is designed to cover non-collision perils like flooding, but it still counts as a claim.
Finally, the type of vehicle you’re insuring plays a big role. If you have a newer vehicle or expensive model, it would cost more to insure than an older one, like a Porsche Cayenne would cost more to insure than a Honda Civic.
While your rates may be higher now, insurance companies adjust prices often. Once you’re insured continuously without any claims or accidents, your rate should fall again.
To make sure you’re getting the best deal on your current policy, download the Jerry
app. Jerry will shop around and compare rates from over 50 of the top car insurance providers and deliver the best rates straight to your phone—for free