Simply Explaining Insurance #101- Why does my insurance go up as my car gets older?

Simply Explaining Insurance

I get this question once in awhile in my agency and I think it’s a very valid question. Every coverage in your auto policy comes with a price. The way it works is that the cost to cover your vehicle as it ages, actually does decrease.

It is the liability portion of the policy that continues to increase. As the cost of medical expenses and cost to repair vehicles rise, insurance premiums will follow. These cost increases outpace the decrease in costs on an aging vehicle.

Links

My Website

Music by Roger Clyne and the Peacemakers

Simply Explaining Insurance on ITunes

Simply Explaining Insurance on Spotify.

On Stitcher

On Android use Podcast Addict and search for Simply Explaining Insurance.

The post Simply Explaining Insurance #101- Why does my insurance go up as my car gets older? appeared first on Dietz Agency.