You wouldn’t imagine that car insurance would change that much or that often, but car insurance is no different than politics, movies, or fashion. It’s not so much that things change and insurance has to change along with it, as it is insurance companies figuring out how to better individualize policies based on differences in drivers. In the early days of car insurance there was often one rate for every driver, regardless of the driver’s age, and regardless of the car’s make or year.
Now, things are much different. Each policy is customized and calculated based on a ton of different pieces of information, every one of which could move the price up or down. One disturbing trend in car insurance is a rise in rates for a decent policy, making it all but impossible for those not making much to get a good policy. Anyone can get minimum coverage, but only the well off are able to get ‘full’ coverage.
In much better news, there has been a rise in the number of young drivers. Many insurance companies are offering special student vehicle coverage policies which feature special quotes, flexible payment options, and more. With proof of ID, a license, and an age of 16 to 21, one can qualify.
Another new type of coverage that is being offered is part specific coverage. This mainly caters to those who have classic cars, so they can double-insure the most valuable parts of their vehicle.
The continued bad news is that rates are going to go up significantly in many states soon. It is a good idea to research all these trends and to get your insurance based on this research. There are many excellent ways to compare coverage online from the various insurance companies, and to find the rate and individual coverage that is right for you. There are also other ways to keep up with the latest trends, such as setting up a Google alert to let you know when there is new car insurance news. Often, you will find out about different discounts that might benefit you that you would never know about otherwise.
Even with all this information, it is still a good idea to get updated quotes once or twice during the year. With a little work, you can get great coverage and a low rate, and avoid all the rising costs that seem to be the trend today.