Written by It looks to be that even in a poor economy, auto insurance rates will be rising.
Auto insurance companies as of late have been hit hard with terrible losses, and much like the majority of the financial industry they have to either compensate for the losses or fold. You can see with AIG that losses have definitely been a big deal, and thanks to the government bailout this company is still around. What about some of the other insurance companys?
Well, it’s hard to say what kind of financial condition some of the other insurance companies like State Farm are in, but, it can be easily determined that the majority of major insurance companies are raising rates to combat losses including rising costs, fraud, and claims. Since early this summer insurance companies were determined to begin raising rates, from California to New Jersey rates are definitely on the rise.
If you’ve found yourself making less money and paying more and more in insurance costs, get a quote below and see if you can save up to $500 or more on your car insurance premium.
