Growing auto insurance premiums have, unfortunately, become a fact of life. Yes, Americans are driving more — a record-breaking 3.14 trillion miles in 2015. Also, collision claims rose for a third-straight year, according to AAA.
Traffic fatalities are also heading skyward. In 2016, there were 40,000 killed in motor vehicle crashes. That is 14 percent higher than the previous year, according to the National Safety Council. The cost of deaths, injuries and property damage was $132 billion — a 24 percent increase over 2015.
Also shooting upward is the cost of vehicle body work, along with medical costs. Until the last few years, the frequency of car crashes had generally been dropping. Now they have joined the cost of paying cash claims, which are growing without control.
What can we do? Obviously drive with safety in mind. Next, consult with your insurance agent to adjust coverages, limits and deductibles. Then make a serious effort to bundle auto insurance with other policies. Good luck!
