Inflation and other factors that drive up auto insurance rates

BIRMINGHAM, Ala. (WBRC) – You can add car insurance to the growing list of things we pay more for.

Some people we’ve spoken to have told us their rates are going up $50 to even $200 more than they were paying six months ago.

Several major auto insurers, including State Farm, Allstate, Progressive and Geico, have raised rates according to Bankrate.

We are told that this is due to a number of things, including inflation due to the increase in the price of auto parts, labor and car rental costs. So what can you do about it?

Rod Griffin of Experian says don’t crash and shop around. He also suggests calling insurance companies to try to get a better rate.

“Shopping around is a way to empower yourself as a consumer and start by calling your own insurance provider and saying, ‘Hey, I’ve been a great customer. I haven’t made any complaints, can you do something about my rates? said Griffon.

At least one car insurer is raising its rates due to the number of claims on certain vehicles.

Experian offers a car insurance comparison tool that helps you find quotes from 40 different providers. You can find more on their website here.


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