Why Aren't My Car Insurance Rates Going Down?

It used to be back in the 90s that every time you renewed your auto insurance, you would receive a renewal discount as long as you had no claims and no traffic tickets. This was especially true if you carried only liability coverage. Not so much anymore.

Today, in many states, vehicle owners can expect their insurance rates to increase at least a small percentage over the previous term. There are several factors that are affecting insurance costs and most companies are scrambling to keep up with loss ratios and other factors that determine the rates they offer.

Myths About Insurance Rates

Many insurance consumers try to use logic when anticipating what their insurance rates should be doing at each renewal, but unfortunately, their logic is based on myths.

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