Brownlee Agency Insurance Solutions Shares Three Reasons Why Auto Insurance Premiums Increase
The term premium refers to the cost that a policyholder pays for their auto insurance, and unfortunately it does increase over time. According to
1. Adding Vehicles to Coverage
When policyholders add vehicles to their coverage, then premiums will automatically go up. The same is true when new drivers are added to a policy.
2. Filing a Claim
When policyholders file a claim, they are at risk of increasing their auto insurance premium. The amount that a premium increases depends on the type of claim filed. For instance, comprehensive claims lead to smaller premium increases than collision claims.
3. Driving Record
Driving records have an impact on the cost of auto insurance premiums. Bad drivers, or those with accident histories and traffic violations, will pay higher premiums than drivers with clean records.
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From personal auto insurance, commercial auto insurance, trucking auto insurance, and more,
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