Hoosiers love the open road and the freedom of the highway. But sometimes the costs of that freedom can feel a little steep, especially when it comes to car insurance. And for those with USAA Insurance, there’s some news to digest: The company is set to raise its auto insurance premiums for Indiana residents.
What’s Happening?
USAA, the insurance provider for US military members and their families, is planning to enact a 5.7% increase in its auto insurance premiums for residents of Indiana. This adjustment is expected to affect renewal policies starting on June 18, impacting an estimated 21,944 policyholders.
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Why Are Insurance Rates Increasing?
Whenever you get hit with an auto insurance rate increase, it’s only natural to ask what’s behind it. Typically, several factors contribute to rising insurance rates, including:
- Increased accident claims: More accidents lead to higher payouts for insurance companies.
- Rising medical costs: The cost of treating injuries sustained in accidents has been increasing.
- Inflation: The rising cost of goods and services, including labor and materials, affects insurance companies’ expenses.
- Technology advancements: Newer cars with advanced safety features and technology can be more expensive to repair.
How to Save On You Insurance
Undergoing a rise in insurance rates can be frustrating. But before you resign yourself to higher premiums, recognize that you have more control over your insurance costs than you might think! There are several ways to save on your car insurance:
- Shop around for quotes: Get quotes from multiple insurers to compare rates and coverage options.
- Bundle your policies: Combining your car insurance with other policies, such as home or renters insurance, can often result in discounts.
- Increase your deductible: A higher deductible means lower premiums, but you’ll pay more out-of-pocket in case of an accident.
- Maintain a good driving record: Safe driving habits can earn you discounts.
- Take a defensive driving course: Completing a defensive driving course can qualify you for discounts.
- Consider a less expensive car: The type of car you drive affects your insurance rates.
- Improve your credit score: In some states, your credit score can impact your insurance rates.
Secure an Auto Insurance Policy That Fits Your Budget
As consumers struggle with rising costs, minimizing your auto insurance premiums is becoming increasingly key. That’s why it’s important to stay on top of your policy changes.
Start tracking your policy for free with Auto Quote Tracker, and we’ll send rate change alerts directly to your inbox.
