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car deductibles

In 2019 the car insurance premiums were at approximately $239 billion. The average annual costs for car insurance in 2019 was about $1,652 for drivers of the age group of 30 to 45, according to policygenius insurance statistics. The auto insurance increase has reportedly gone up approximately 3.9% on average per year. The expected average increase in auto insurance however in 2022 is a 0.6% increase on top of that across the country.  The average cost of car insurance across the country in 2022 is now up to approximately $1,935 for the year. These averages of course vary by state and region, ages and genders of drivers also play a significant part in insurance rate premiums as well. The 3 states with the reportedly highest national average in insurance rates are Michigan, Louisiana, and Florida. The 3 states with the lowest annual insurance rate average are Maine, Texas, and Wisconsin.  This year in 2022 we have seen average of a 55% insurance premium increase across the U.S. due to traffic violations and auto accidents.

During the covid- 19 pandemic premium rates substantially lowered, but now in 2022 we are seeing a national increase in premiums due to some factors. As people from across the country resume activity and are working outside of the home again, these actions have caused for premiums to climb. There has also been a substantial increase in drivers who are more distracted with technology whether it be cell phones or built-in gadgets in their vehicles. People unable to put down their cell phones while driving has caused an additional average of over 3,000 deaths per year. Cars that have intricate technology built into their vehicles require additional repairs in an event of an accident. This has also been a contributing factor for premiums going up. In order for consumers to lower their overall insurance premiums they have very few options. One of the options may be to shop around for lower insurance rates with different companies. Another option for consumers to lower their insurance rates is to adjust their coverage options, which can ultimately be unreliable in an event of an accident or potential lawsuit. Yet another way many consumers decide to lower their insurance premiums is by taking a major risk and opting for a higher deductible amount, which they may or may not be able to pay for later. Many consumers also work on improving their credit scores to be offered a better premium rate possibility.

As mentioned auto insurance premium rates may vary by state, age, gender, credit scores, deductibles, driving history, etc. Believe it or not there are even more factors that come into play when it comes to overall rates. The type of insurance is another factor which affects your overall costs. For example, liability, comprehensive, collision, and so on. The kind of car you drive also plays a huge part in your insurance premiums. Did you know that sedans are the most expensive car type for insurance premiums according to the analysis of public rate data? Following sedans, are electric sedans, and then small SUVs. Pickup trucks and SUVs are generally offered the lower insurance rates. Expensive vehicles and imported vehicles can also contribute to higher insurance rates due to the expensive parts associated when in need for replacements, etc.

There is a national relatively small percentage of uninsured drivers. It has been recorded to be an approximate 12-13% Although this doesn’t count as the majority or even half of the amount of drivers on the road, it can still cause damage to those who are insured and must pay out of pocket for deductibles in the event of an accident. The most common auto deductible amount is $500, but companies may usually offer deductibles ranging from $100-$2000. This normally does not cover medical payments coverage or liability coverage.

Here at No DUK we want everyone with auto insurance to know that we have your full deductibles covered. You will be able to better afford the all-inclusive full coverage insurance premiums, and have your full deductibles covered in the event of an accident. Sometimes when it rains it pours. Accidents are unexpected burdens that can occur at any time. In an unfortunate time, you having to pay for a deductible to cover your car insurance costs is even more burdensome. Let us put money back in your pocket! Share your claim info with us, and watch your deductible be covered in full!

Say no to deductibles! Say NO DUK!!

 

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