By: Advocate Brokerage
It costs more to own and operate a vehicle than ever before. From higher prices at the pump, to the increasing costs of purchasing a vehicle, to the high cost of repairs, to the rising insurance rates, owning a car in 2022 is higher than ever. According to a report by AAA the cost to own and operate a vehicle annually has increased by over $1000 since 2021.
For those of us living in urban areas, the cost of car ownership is even higher. When it comes to your automobile insurance, while rates will vary based upon the individual, where you live is a huge contributing factor. According to Insurify’s 2022 Auto Insurance Trends Report those who live in highly populated urban areas tend to pay about 15% more for auto insurance than those who live in more rural areas.
We are here to help those who are wondering if there is anything you can do about the rising costs of auto insurance so we thought we would share some words of wisdom with you.
Not All Insurance Policies Are The Same.
If You Own A Luxury Vehicle,
It Is Best To Be Insured With An Elite Carrier
We have never made it a secret that we prefer our clients, especially those who own high valued cars insure their automobiles with one of our elite carriers. Our experience shows time and time again that if you own an expensive car, in the long run, it never makes sense to cheap out on your insurance. In fact, some carriers are no longer writing policies for new clients that own Tesla’s.
Which is why it is important to keep in mind…
Loyalty Is Rewarded!
Frequently Switching Carriers Looking For A Better Rate Could Leave You Without Coverage When You Need It The Most
Insurers value stability. Customers who frequently switch companies are seen as a higher risk to insure than customers who stay put. Establishing a stable record with your insurer is very important. If you frequently switch carriers in a continuous search for a better price, the more likely your insurance carrier is to cancel your policy when you need it the most.
We really do have your best interest in mind and will always do our best to keep you up to date in all that is happening within the world of insurance. If you have any questions, about your automobile insurance, give us a call us at 914-723-7100 at any time. We are always happy to speak with you!