Auto Insurance Trend Predictions for 2024
Well, it’s officially 2024! Happy New Year! People are already out there making their predictions on what this year will bring to the insurance industry. As for car insurance, the outlook might be a little grimmer than we expected. Since the end of 2023, auto insurance rates have slowly been on the rise so this could be an indicator of what’s to come this year as they are expected to continue to go up. The reason for this is simple—inflation.
Repair costs have gone up
Reckless driving seemed to have increased
Insurers are backed up and still trying to make up lost money from previous years
Theft rates have also risen
All that said, one of the best ways to make sure you keep your rates as low as possible is to shop around. That’s one of the benefits of working with a small, independent agency like ours. We do the shopping for you. We have a ton of carriers so that gives you more options. On that topic, here is a list of the top 5 BEST insurance agencies in 2024 this January so far. Wouldn’t you know it, we offer more than just a few.
Progressive
Travelers
Allstate
Geico
State Farm
To find out if you’re paying too much for auto insurance don’t hesitate to reach out to one of our representatives. We’re always ready to help you save money and have zero bias toward any carriers we offer. This gives you better options. Better prices! What better way to start the new year?