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Many people ask, “If I am supposed to get a renewal discount, why do my premiums seem to increase with each renewal?” The answer is not always so simple. Each year, new vehicles cost more then they did the previous year. It will probably cost more to fix a damaged vehicle than it did last year, or five years ago when you first bought your current policy. However, in many cases, your renewal premium will be less. Some factors that contribute to decreases in your premiums are straightforward.

According to the Insurance Information Institute (I.I.I.), the cost of auto insurance is expected to rise only 3.5% in 2004, the smallest increase over the last four years. Why? The number of auto accidents is on the decline due to better drivers and safer cars as well as crackdowns on fraud and abuse. However, due to the rising costs for medical care, vehicle repairs and skyrocketing jury awards the potential of price increases remain a problem. Rising automobile theft rates and fraud will keep cost (more...)

Auto insurance is something we do not think much about until we need it. Usually the only thing we consider is how much it is costing us. You should ask yourself one question though. Do I have the right auto insurance coverage? Keep reading this article and find out if you need to increase your coverage.

The first thing you need to consider is how much liability coverage to carry. This is an important factor and the minimum can vary from state to state. Most people only carry the minimum required by the state but this may be a bad idea. Additional coverage does not cost much more and could save you in the long run. With more and more vehicles on the road costing $50,000 or even $100,000 or more you should carry more liability coverage. If you hit one of these vehicles, they will come after you once your insurance is depleted. Protect yourself.

The next thing to consider is whether or not to carry underinsured or uninsured motorist protection. This will protect you in case you are in an accid (more...)