Hey Texas drivers, I’m sorry to inform you that your insurance bills might spike this year.
Insurance companies plan to hike rates in 2022, and some companies are raising rates by more than 20% on average statewide, according to notices filed with the Texas Department of Insurance.
The pandemic has affected most aspects of our lives and car insurance is not an exception.
In 2020, when less people were on the road, insurance companies lowered rates and refunded or credited more than $14 billion to consumers. But this year traffic levels are inching closer to pre-pandemic levels, collisions are becoming more frequent and the rising cost of everything from gas to labor is putting pressure on insurers, as reported by The Dallas Morning News.
Increases in premium are felt universally because every Texas driver is legally obliged to have their car insured.
The Dallas Morning News listed a few tricks that could help you pay less:
- Shop Around.
Often, a consumer’s best chance to save a few bucks on their insurance bill is to find a new provider – it is recommended to get at least 3 price quotes.
- Driving less?
To lower your rates, call your provider and update your average mileage.
- Usage-based insurance programs.
Some offer discounts for good credit scores, defensive driving courses, and sometimes for student drivers with good grades.