When the car insurance bill arrives and the premium has increased, the policyholder may not understand why. If this person hasn’t received any traffic citations and hasn’t moved, it’s time to call and ask what happened. If this is an across-the-board increase for all customers, the person may want to contact other Denver auto insurance brokers and see whether a lower price is available for similar coverage.
Possible Personal Factors
Something may have changed in the person’s financial or lifestyle situation that the company found out about. For example, there may have been a significant decrease in the credit score. Divorce also can trigger a premium increase, but usually only for men. Underwriters know that single men are riskier drivers on average, especially if they are young adults.
Other Possibilities
Sometimes the issue isn’t connected to anything the policyholder did. The neighborhood where the car is kept or the city in which the person lives could have become less safe than it once was. Perhaps more collisions have been occurring than there used to be. Vehicles might have been broken into, stolen or vandalized. Independent Denver auto insurance brokers may be able to offer similar coverage at a lower premium than the latest bill demands.
Premium Hikes for All Policyholders
Like other businesses, insurance companies generally pass along growing expenses to their customers. As the price of auto body service rises, so do insurance rates. Since automotive coverage pays medical expenses resulting from accidents, this is another factor. Managers then decide to raise all premiums, usually by a relatively small amount.To get automotive insurance quotes, consumers may want to begin with us. For more information visit Facebook.
