What Contributes to Increasing Auto Insurance Rates?

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Auto insurance rates are increased due to a number of different reasons, some beyond the control of the driver. Learn what contributes to increasing auto insurance rates with help from a specialist in property and casualty insurance in this free video clip.

Part of the Video Series: Auto Insurance
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Video Transcript

Hello, my name is Marty Goldstein, I'm with Prime Source Insurance Services located right here in North Ridge, California and I'm here to talk to you a little bit about what makes auto insurance rise. There's primarily two different ways to think about auto insurance rising and one reason that auto insurance rises is because insurance carriers are paying on an awful lot of claims. Ultimately they're going to have to respond or react and raise the rates for auto insurance otherwise they'll run the risk of losing money and they're not in business to do that. But another reason that auto insurance rises is because of tickets or accidents that you may have. If you are one who has a lot of tickets or a lot of accidents, you might be thought of as somebody who might be a more dangerous driver than somebody who doesn't have any tickets or accidents and might be thought of as somebody who is a more safe driver. Also, if you file a lot of claims, that could also give rise to increasing insurance rates, whether or not they are your fault, insurance companies are still going to have to pay them out. So in many cases if you're a more dangerous driver or if you file a lot of claims insurance rates may increase in reaction to those claims. I'm Marty Goldstein with Prime Source Insurance Services. It's great chatting with you today.


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