(WPDE) — The year 2023 is met with another, unfortunate price hike for one of the basic necessities to even be on the road, but there are ways to get the best deal according to a licensed insurance agent.
The consumer price index is reporting car insurance premiums are 17% more expensive than a year ago.
“Auto rates have unfortunately been on the rise,” Melissa Jernigan, a licensed insurance agent with the Southeastern Alliance Underwriters (SAU) said, noting that one reason is technology. “These vehicles that folks are purchasing, that are out here on the roads, yes, they have all these added safety features—they're driving up premiums," Jernigan said, explaining it drives up repair costs if you're in a wreck.
“There’s a shortage in parts for a lot of these cars, so your vehicle may have to be in the shop longer. And if you don’t have enough coverage for that, it could certainly hurt your pocketbook," Jernigan said.
"And then even staffing shortages for some folks," she said. "It’s been a snowball effect so to speak.”
The phrase perfectly sums up the next part of the rate hike, as South Carolina Highway Patrol (SCHP) collision data shows after the pandemic, when people returned to everything "in-person" again, the number of car wrecks went up.
Fortunately, there are ways to lower your rate, some are as simple as saying "no" to communicating through postage.
“Companies, you know, trying to cut down on the paper and just downloading that app that they offer," Jernigan said.
You can also take a short defensive driving course on your phone, or have a company send you a tracker for your car.
“It will monitor the time of day you drive, your sudden breaking, or quick acceleration," Jernigan explained. "You sign up for that, it’s an automatic 10-15% decrease in your premium."
How that looks for you, specifically though, depends on your age, gender—even the zip code where you park your car.
“Theft, larceny, vandalism, crime in that specific area, unfortunately," Jernigan said, which is why one way to take control of the increase, is by working with an agent.
“We have a software we use," she said. "It automatically pulls that information we’ve entered into our comparative rater, and it will quote with every carrier we do business with; we have about six companies we write with.”
As another resource, South Carolina's Department of Insurance (DOI) has a website specific to car insurance with all the factors that go into your rate, frequently asked questions, and how to reach the agency directly.
They have a toll-free hotline and email to address anyone reaching out.
Comments
Post a Comment