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Insurance rates are determined by the vehicle type, how many miles you drive per year, your driving record, coverage limits and most importantly where you are located. I was using a reputable insurance company in LA and when moved from one part to another (about 20 miles away), the policy changed by approximately $500 a year (same miles, cars, driver and coverage).
This year my policy jumped 50% without any accidents or changes in our part. When I asked around for quotes, all insurance companies were quoting much higher fees than I had last year. All the insurance companies blamed the price increases on Hurricane damages last year in the southeast, particularly if you live in Texas, Florida, Virgin Islands, and Puerto Rico. They also pointed out the many floods happening across the nation due to aggressive climate change.
09-03-18, 08:25 AM
