Car insurance premium goes up $20+/month each quarter?

  • by Monica
  • Aug 15,2017
  • 10 answers

I've had my car insurance policy for 2 years this September. My premium has gone up over $100/month since I first started this policy. No new claims.
I have the SR22 contract which lasts another year. Obviously I have a bad driving history and I'm not proud of my past. I'm just wondering why my premium continues to increase every quarter when it's renewed with no new claims. Whenever I talk to the agency, they just say that it's the lowest they can get. I know there are a lot of factors that go into determining rates but I'm kind of clueless about this.
Thank you.


LIKE OR DISLIKE:

  

Insurance Answers (10)

The99er last month

no.

Help others find the most helpful reviews
Was this review helpful to you?  

johnson last month

Because I am Chinese and extremely sexy

Help others find the most helpful reviews
Was this review helpful to you?  

Jessica last month

...

Help others find the most helpful reviews
Was this review helpful to you?  

H. Marie last month

read your policy it must have something in it related to advanced payments maybe this was their way of allowing you to get insurance you could not currently afford but will pay in increased increments to pay what is really owed

Help others find the most helpful reviews
Was this review helpful to you?  

Casey Y last month

The fact that you have been clean, for all of two years, would not bring down the premium. SR22 is pretty serious and you know that.
Its all about the costs associated with SR22 accounts. If they have been higher, the company simply files with the state and gets more rate. Its the exact same thing as standard auto insurance, if they can show that drivers in their 30s with bad credit are causing more claims and costs, they file with the state and get a rate increase. You just happen to be part of a far worse ratable group.

Help others find the most helpful reviews
Was this review helpful to you?  

Lord of the Multiverse last month

SR22 insurance is the alternative to a cash bond or a security deposit. The premium for SR22 insurance is adjusted quarterly.
Since you admit to a bad driving record, there is nothing that can be done until the expiry of your requirement.

Help others find the most helpful reviews
Was this review helpful to you?  

StephenWeinstein last month

The reason your premium is going up that amount is because you live in a place where insurance for drivers your age with a SR22 is going up that amount. Although there are a lot of very minor factors, the major factor in insurance prices is where the driver lives. This one factor is several times larger than all the other factors combined.
There is nothing that they can do to offer you a premium that doesn't increase in the place where you live. The only person in the world who can stop the increases is you -- by moving to a place where the price is not increasing.

Help others find the most helpful reviews
Was this review helpful to you?  

jc col last month

They routinely raise rates on every customer, your best bet is to shop the insurance market every year. I was with state farm for 12 years and saved money switching to geico the next year and then saved money again switching back to state farm this year. It's a tactic used to squeeze every last dollar out of their existing customers... and the coverage with any major insurance company is going to be the same... crappy and treat you like a criminal if you need to make a claim.

Help others find the most helpful reviews
Was this review helpful to you?  

B last month

switch companies or get quotes to switch from an insurance broker

Help others find the most helpful reviews
Was this review helpful to you?  

A Hunch last month

You can attempt to lock in your rate for a longer term.
Many insurance policies are locked for 12 months at a time. But maybe SR22 insurance is generally only 3 month periods.

Help others find the most helpful reviews
Was this review helpful to you?  

Post a Answer

Your comment was successfully posted!

Or use your account on Blog

Error message here!

Hide Error message here!

Forgot your password?

Or register your new account on Blog

Error message here!

Error message here!

Hide Error message here!

Lost your password? Please enter your email address. You will receive a link to create a new password.

Error message here!

Back to log-in

Close