Your insurance company probably has detailed reports of risk factors related to your neighborhood and county. For example, if you move from a rural location to a more populous city, your auto insurance will probably increase. This is because the risk of getting in an accident or having your car stolen is much higher in a city than in a rural town.
You Filed a Claim
When you are involved in a car accident and have to file a claim, you are considered of higher risk to your insurance company. Because of this, your rates will probably increase when you renew your policy. Even though many people think that a rate increase is inevitable after filing a claim, it is not always the case. If you are not the at-fault driver in an accident and you are able to claim damages through the at-fault driver's insurance, your insurance rate should not go up.
You No Longer Qualify for a Discount
Many insurance companies offer discounts on their car insurance, such as the Good Student Discount, Good Driver Discount and Multi-Vehicle Discount. You must meet specific guidelines to be able to receive these discounts. Sometimes without realizing, you can lose specific discounts. For example, if you have the Good Student Discount but then you graduate from college, you no longer qualify for the discount. This will cause your rates to increase. Similarly, if you have the Good Driver Discount and then you receive a ticket, you will no longer qualify for that discount.
Changes in your Community
Sometimes the reason for your insurance increase is not within your control. A great example of this is new construction in your neighborhood. Due to the rerouting of streets because of the construction, you may now have a greater risk of getting involved in an accident or having your vehicle damaged. Because of this, your insurance company may decide to increase your rates to compensate for the increased risk.
The list of reasons why your car insurance might increase is infinite. You will experience changes during your life, but you can make sure that you have the best team with you through all those changes. Call an Infinity agent at 1-800-INFINITY
to talk about our pricing or get a quote online