Consider this a friendly heads-up: Your car insurance bill is about to go up.
Well, that’s not fair, you’re thinking. What can I do about it?
We’ve got a dozen ideas for what you can do about it.
Rising Car Insurance Prices
We just saw two separate reports forecasting that 2023 will bring a noticeable jump in car insurance prices:
Rates are expected to increase by 8.4% across the U.S. this year — the biggest jump in six years — according to a study from financial data website ValuePenguin. It puts the average cost of full coverage car insurance at $1,780 per year. Meanwhile, the virtual insurance agency Insurify is predicting that rates will rise by 7% in 2023. It puts the average cost of car insurance at $1,777.
Why? A number of reasons, namely inflation and a nationwide increase in fatal auto accidents.
12 Simple Ways to Lower Your Car Insurance Bill
I recently had the “pleasure” of signing up for a new car insurance policy. While I shopped around for a policy that didn’t break my budget — but still offered insurance coverage that thoroughly protected my car, me and other motorists — I researched some tips to help save money.
And no, I’m not going to suggest anything that requires a drastic life change. Sure, buying a new type of car with high safety ratings, moving to Maine, maintaining a clean driving record or never driving again will all help. But that’s not realistic
