Why does my Car Insurance cost so much?

questionInsurance carriers consider a variety of factors when setting the car insurance rates.   This applies to motorcycles, boats and RVs as well.

Your premium is the amount you pay for your policy coverage.  The rate makes up the premium and is the amount the insurance carrier charges.

Regardless of how much you pay the good news is that insurance companies can’t just make up rates as they go.   They must file their rates with the Washington State Insurance Commissioner’s office.  They make sure that rates are not excessive inadequate or unfairly discriminatory.

Here’s are some of the factors they consider when setting rates:

  • Your gender
  • Your age
  • Martial Status
  • Where you live
  • Your car, truck, motorcycle, etc.
  • How much you drive
  • Your driving record
  • Past insurance claims
  • Your credit history (maybe)

At Schreib we shop around for you as rates for the same coverage vary from company to company.   It’s what we do.


2 comments on “Why does my Car Insurance cost so much?

  1. Chad says:

    Go Hawks!

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