CHARLOTTE, N.C. — Yet another bill is going up. This time, we're talking about car insurance.
Reports from CNBC, Money, and carinsurance.com say it gets tricky to anticipate just how much insurance will jump year over year.
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However, a rough estimate shows premiums could go up by about 10%.
Reasons for the hike include pricier car parts, more expensive rental car rates, and another less-thought-about factor: Storm damage has been cited in more claims, according to Progressive.
All of these factors are just a few of the reasons insurance companies are charging more.
It's why WCNC Charlotte is also looking for ways you can get ahead and save, with three tips.
- Consider bundling your home and auto insurance. For renters, you can do the same. Several insurers will give you a percentage off for putting the two together on one policy.
- Consider a higher deductible. As you practice safe driving and avoid accidents, your monthly pay out will hurt a little less.
- Shop around. You should be looking at insurance quotes every six months to a year. There are plenty of first-time discounts for new customers, so it may be best to get quotes from a few different providers and see if it makes sense to stay with your current company.
Contact Kia Murray at kmurray@wcnc.com and follow her on Facebook, X and Instagram.
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