Alpharetta Auto Insurance
Top 5 Economic Changes that Affect Car Insurance
In the past year, a survey by state insurance commissioners reveals that 53 percent of Americans have made an economic-driven change that could impact the cost of their car insurance.
With the price of gas going up…and up…and up, we’re giving YOU a heads-UP in order to avoid making a decision that could leave your wallet hungry and keep you from SAVING money! These days, every penny counts!
The National Association of Insurance Commissioners (NAIC) survey identifies FIVE of the most common trends in the past year that could impact their insurance costs:
The survey found that many Consumers have relocated within the past year! This may be due to employment opportunities, moving into more economy-friendly housing or pursuit of higher education in light of unemployment
2. Changing Vehicles
Nearly 20% of car owners traded in a vehicle for a lower-priced model or got rid of a second vehicle.
3. Changing Jobs
Unemployment is still perched at around 9% and many consumers are looking for jobs. During the process of finding/changing jobs and suffering the hardships of unemployment, car insurance coverage has been either canceled or reduced by close to 20% of drivers.
4. Driving Less
The survey indicates that nearly 40% of respondents are either driving less overall and/or taking public transportation.
5. Damaged Credit Score
In the midst of a challenging economy, damage to credit scores looms in front of many drivers. However, it’s no secret that an unfavorable credit score can result in higher premiums and in some case, an inability to secure insurance with certain carriers.
Have a question about your GA Auto insurance coverage? Need a Georgia Auto Insurance policy? Contact the Alpharetta GA Auto Insurance the Problem Solvers at Gillman Insurance. Our Georgia Insurance staff is prepared to share their expert knowledge and offer you unmatched, professional advice.
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