American drivers are braced for more increases in the premiums they’re paying on their auto policy. Across the US, there were three states that experience car insurance price increases by 25 percent last year, and experts are cautioning American motorists that the premiums are expected to continue rising. As much as auto premiums rose last year, 2023 is likely to see policies getting more expensive. Interest rate increases, inflation, the volatility of gas prices, and a spectrum of other causes have sent car insurance rates skyward in the last year.…
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Bad credit can make for a higher car insurance rate
As if things weren’t bad enough for people who have been affected by the mass foreclosures, job loss, and overall slumping economy; here is that proverbial “last straw,” that could be the back breaker. Everyone knows that a low credit score can determine the rate you pay on a loan; it can also determine your insurance rate. A recent survey shows that 92 out of 100 insurers use your credit score, along with other factors, to decide whether to write you a policy, and if so, what your premium should…
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