Feb 8 Reasons Why Your Auto Insurance Rates Changed

Reasons Why Your Auto Insurance Rates Changed

Here are some of the factors that might have affected your auto insurance premiums.

If your auto insurance premiums changed this year, there are many possible factors that may have contributed to this change.  Curious to know why your rates may have changed?  Here are some of the factors that can affect how your auto insurance rates are calculated.


It’s important to keep in mind that your auto insurance premiums are calculated based on how much your insurance company thinks you will need in claims.  This is why your rates always increase after an accident.  Your auto insurance company assumes that you will be more likely to file another claim in the future.

However, accidents aren’t the only thing that can affect your insurance rates.  In fact, there are many individual factors that can affect your premiums.  For example:

  • Your Car – The more expensive your car is, the more expensive it will be to repair. This in turn will affect your auto insurance rates.
  • Your Coverage – Changes in your coverage will translate into changes in your insurance rates.
  • Personal Factors – Personal factors such as moving, getting married, or even getting older can also influence how your auto rates are calculated.

In addition to these individual factors, sometimes your auto insurance is affected by factors outside of your control.  For instance:

  • New Cars – Getting into an accident with a new car will result in expensive repairs. With more new cars on the road, your auto insurance rates are likely to increase as a precautionary measure.
  • Gas Prices – When gas prices are low, people tend to drive more. This in turn increases your chances of getting into an accident.  This too will translate into higher rates.
  • Medical Costs – With medical costs increasing, your insurance premiums will increase accordingly. This is to ensure that you are covered for medical treatment after an accident.

These are some of the major factors that might have caused your auto insurance premiums to change.  Do you have more questions regarding your car insurance?  Then reach out and contact us at Weeks & Associates Insurance Services.  Located in Thousand Oaks, California, our knowledgeable team is ready to assist you with all your insurance needs.

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