Why Do My Rates Keep Going Up?

Could uninsured drivers be to blame?

It hardly seems fair to those of us who keep coverage and have no incidents that our rates go up, but this is where the “pooled risk” is a factor.  Less folks in the pool mean less premium coming into the company to cover claims and expenses.  For those who maintain insurance, their companies are paying out more claims to cover us when we get hit by someone un-insured.  The un-insured person was supposed to cover the loss but didn’t.


Insurance is all about calculated risk assessment and pooled risk.  It’s about Insurers making educated guesses on how likely you are to file a claim in the future.  They base it on statistics and do they have enough incoming (premium) to cover the outgoing (claims and expenses).  We are licensed in eleven states.  Of these eleven, one is consistently in the 10 Lowest, Ohio. For the highest rates, Louisiana and Georgia often rank in the Top 10 Highest. The rest of our states (Illinois, Indiana, Kansas, Missouri, Nevada, Oregon, Texas and Virginia) typically are in between.  Yet there is one consistency among all states…rates have been going up over these past couple years!


Look around, if you know someone without car insurance, they are part of the reason your rate is going up.  Many of us keep our insurance but those who don’t (or are just starting out) are hit by even higher premiums since they are missing out on the Prior Insurance discount and/or loyalty and longevity discounts.   

~ However long you’ve been insured, we shop the rates and always give you the best rate we find.  We even let you know to stay with your current carrier if your rate is good.  It’s been that way since 1994. ~

Solo Insurance® 800-207-7656 Get a Quote: https://www.soloinsurance.net/ 

-- Family/Veteran owned since 1994 -- 


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