Car insurance costs are on the rise in 2023. According to personal finance website ValuePenguin, insurance rates across the US are expected to rise by 8.4%, bringing the total average premium for full coverage to $1,780 per year.
Pricier cars and more expensive repairs are just two reasons ValuePenguin cites for the possible higher rates. Additionally, workers resuming their daily commutes and an increase in storm-related claims due to climate change will also cause you to pay more for your insurance coverage should these predictions bear out.
If you’re a car owner already frustrated by last year’s increased prices, don’t trade in your vehicle for a bus pass just yet. Here are three ways to make sure you find the best car insurance deal for you.
If you already have homeowners or renters insurance, you might be able to save on your car insurance by getting your car insurance from the same company.
According to InsuranceQuotes data, the average driver saves about 16% on their insurance premiums by bundling their homeowners insurance with their car insurance.
When considering this option, it’s a good idea to get several quotes from a few different insurance companies, looking to make sure that the coverage is the same. Then, compare the two, looking for the policy with the most types of coverage, the highest limits, and the deductible that best fits your budget.
