Drivers will get no relief from car insurance costs this year and will have more limited shopping options as providers stop writing new policies in some states, a recent report from the Zebra said.
Mel Duvall is a business writer with more than 30 years of experience. He has bylines at CarInsurance.com, Insurance.com, and The Financial Post.Fox Money is a personal finance hub featuring content generated by Credible Operations, Inc. , which is majority-owned indirectly by Fox Corporation. The Fox Money content is created and reviewed independent of Fox News Media. Credible is solely responsible for this content and the services it provides.
“Escalating loss costs continue to plague many auto insurers, ” says Mark Friedlander, director of corporate communications for the Insurance Information Institute , which provides research and education on the insurance industry. The type of vehicle you drive affects your rate. Vans are, on average, the cheapest to insure, while sports cars are the most expensive.Full coverage car insurance combines liability insurance with comprehensive and collision coverage.
Comprehensive and collision insurance both come with a deductible, the amount you must pay before your insurer will step in to cover the cost of repairing or replacing your vehicle. Deductibles can range from zero dollars to $1,000 or more, and you can adjust your deductible to suit your financial needs. Generally speaking, the greater your deductible, the lower your premium.The cost of full coverage car insurance ranges widely among carriers.
Male teenage drivers get hit particularly hard, as, once again, they have a higher rate of accidents than females. The crash death rate in 2020 for male drivers between the ages of 16 and 19 was triple the death rate for female drivers in the same age group, according to the Centers for Disease Control and Prevention.
As noted above, USAA offers some of the cheapest rates around, with full coverage car insurance rates at about $115 per month. Professional discounts for such affiliations as being an engineer, teacher, firefighter, lawyer, medical professional or alumni of a university “Although it can be irritating and time-consuming, drivers should comparison shop on an annual basis,” he says. “With the ease of the Internet these days, it’s not difficult to do.”Expert tips on how to shop for the cheapest full coverage policy
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Microsoft Flight Simulator 2024 leads Xbox Game Pass additions in November 2024Find all new games coming to Xbox Game Pass in November 2024, including the highly-anticipated Microsoft Flight Sim 2024.
Read more »
Football Manager 2024 cheap team: best bargain squad you can build - Video Games on Sports IllustratedHere's the best cheap team you can build in Football Manager 2024 using bargain price players.
Read more »
Cheap Wicked Broadway Tickets 2024: How to Score Seats For LessHow to get seats to Broadway's Wicked the Musical for less through the end of the year. Shop resale sites like Stubhub, Vivid Seats and SeatGeek.
Read more »
Football Manager 2024 bargains: best cheap players - Video Games on Sports IllustratedStrike a clever bargain by checking out the best cheap players in Football Manager 2024 and lead your club to victory on a tight budget.
Read more »
Early Black Friday Gaming Chair Deals 2024: As cheap as $90Early Black Friday deals are here, which means you can get tons of gaming chairs on a big discount. Come discover our favorite deal of the moment.
Read more »
Amazon Fire HD 8 (2024) review: A cheap tablet hampered by outdated softwareJeff is Engadget's Senior Commerce Writer, which means he spends his days composing buying guides, deal roundups, and anything else that helps you more easily figure out which tech is worth your time. He's reviewed consumer electronics for more than a decade, a stretch that includes stints at Ars Technica and Business Insider.
Read more »