By Solo Insurance^®

Our costs are up, taxes are up, prices are up and car insurance premiums are on the rise in Oklahoma. People are now paying higher car insurance rates than ever before. What can you do to save money on your rising car insurance premiums?

See the headline:  “Many Oklahomans experience ‘sticker shock’ after seeing latest homeowners, auto insurance policies”

OKLAHOMA CITY — In an article by Zach Rael (KOCO News5, 1/24/2024), he notes that car insurance premiums are up in Oklahoma. It reads, “Some people told KOCO 5 their premiums went up anywhere from 30-50%.” In his article Mr. Rael went on to say: “Many Oklahomans experienced “sticker shock” after looking at their latest homeowners and auto insurance policies. Some people told KOCO 5 their premiums went up anywhere from 30-50%. The Oklahoma Insurance Commissioner, Glen Mulready, said there are reasons for the increase but also ways people can save. The good news is some things can be done to lower insurance premiums but the bad news is there is no real easy fix. According to Mulready, it doesn’t look like premiums will go down any time soon, either.”

Car insurance premiums are up in Oklahoma and all over the United States. Many things are to blame, including more expensive vehicles, but much of it has to do with lack of enforcement of vehicle insurance laws, uninsured motorists causing claim, and the number of lawyers involved now and tort issues. So what does an average citizen trying to do the right thing do?  SHOP. When you get your renewal offer, shop it. Car insurance brokers, like Solo Insurance^®, can shop all our carriers for the best rate we can find for our clients (but not all brokers do).

BEST PRACTICES FOR SHOPPING CAR INSURANCE RATES

Even when premiums are not going up there are key times to check your rates. Times like: when you get your renewal offer (before your renewal date) or before you commit to buying that new vehicle, especially if just starting out. Be aware that certain brands of vehicles are more expensive to insure or harder to place so your best bet is to shop with the Vehicle Identification Number [VIN] in hand.

WHAT ABOUT BUNDLING?

Bundling is a marketing tactic. It may save you money which is important with car insurance premium on the rise, but not always. In many cases insurance companies will not write a piece of business without having another tied to it. For example, some companies will not write your home policy without attaching the auto. If they call it “bundling” to save you money, you’re more likely to want it. Marketing.  Having said this, there are cases where it does save money overall. So if it helps, use it! But don’t assume it makes things better. “Monoline” is the term for shopping each product on its own merit.  Again, shop and be a wise consumer.

Solo Insurance^® has been helping people shop their car insurance rates for over 30 years. Many naysayers told us we wouldn’t last by offering our lowest rate every time (they were wrong).  We would be happy to run the numbers for you without pressure to buy or phone calls hounding you for your business.  We treat others as we wish to be treated by respecting your ability to decide for yourself without being pushed.  Thank you.

Solo Insurance^® 800-207-7656, info@soloinsurance.net, www.Soloinsurance.net

(Link for full article: https://www.koco.com/article/oklahoma-homeowner-auto-insurance-policy/46511907 )