You may have noticed your auto rates increasing. Why are my rates going up you may ask? I have had no accidents. We have noticed too.
Spencer Insurance Agency wants you to know we keep an eye on industry trends to make sure our clients are getting the coverage they need at a competitive price. We are proactive in checking to make sure you are getting all discounts and make sure the company you have is competitive.
As independent agents Spencer Insurance represents several top rated insurance companies and can choose the company that offers you the coverage you need at a competitive price. We understand that price is important but that the “True Cost of Insurance” can be much higher if not properly covered.
So why are car insurance rates rising. There are several factors. Here are a few:
- According to Strategy & PricewaterhouseCoopers, 2016 Auto Industry Trends, people are buying more cars. In 2015, Americans bought a record 17.5 million new vehicles.
- People are driving more. Due to lower gas prices and higher employment, 2015 saw the highest increase in driving in 25 years according to U.S. Department of Transportation.
- Repair Costs are rising. Newer car repairs include costly electronics – like cameras, sensors and other safety devices.
- Injury costs are rising due to medical inflation
- According to the National Safety Council, Insurance Information Institute traffic fatalities are reaching record levels. 2015 brought the largest single – year increase in driving – related deaths since 1966. Worse yet, we’re on track for a two – year increase of 18 %.
- Distracted Driving is increasing! According to the National Highway Traffic Safety Administration, fewer people are talking while driving, but more are texting and surfing the web.
We all know it is crazy out on the roads these days. How many times have you been at a red light when it turns to green and the car in front of you does not move because the person driving is texting?
We ask that you be careful about switching just due to price. Check out our article “True Cost of Insurance” before you switch and contact us to compare the quote you received with your actual coverage. Yes, sad to say some agents will quote lower limits to get your business. You may not realize it until you have a claim when it is too late. Here are some additional reasons why you may not want to switch carriers even if you save some money:
- You may have a disappearing deductible or deductible credit which you will lose.
- You may have accident forgiveness on your current policy.
- Because rates are changing for all our carriers you may find the company you switch to costs more come next renewal. You then lose loyalty credits.
- Does the company you choose have the same level of claim service you have come to expect?
- Are you talking to the same people when you call your insurance agent or do you just get the next person available to take your call?
Spencer Insurance has a licensed and highly experienced team. You know when you call that you will be talking to Joan, Beth, Denise, Steve or me. If you have any questions please contact us! We are here for you!
Please drive safely and pull over to use your phone to make a call, text or check the GPS.