Why Are My Ohio Car Insurance Rates Going Up When My Car’s Not Getting Any Younger?

In 2008 Ohio slipped in at number thirteen on the cheapest car insurance scale. Drivers who were enjoying these low rates were horrified to find out that all the way across Ohio car insurance rates were climbing in 2009. Their cars sure weren’t getting any more expensive. So why was their car insurance?

Before you can start looking at car insurance as a whole it’s important to understand that many of the same factors that make individual policies more expensive are going to come into play when you’re dealing with hundreds of drivers instead of just one. In a newsletter issued by the Ohio Department of Insurance officials said the climbing rates of car insurance were the result of:

a) Climbing medical costs. Medical care isn’t getting any cheaper (like anyone had to tell you that!) and insurance companies can’t continue to pay for complete care for their drivers and passengers without raising insurance rates to compensate.

b) Weather related claims. As the weather gets nastier and El Nino and global warming wreck havoc with the weather patterns the number of weather related accidents have climbed. Increased numbers of claims force Ohio car insurance companies to raise their rates across the board.

c) The number of cars on Ohio roads. The population is booming, especially in areas with an already high population like Cleveland and Hamilton. As more drivers hit the roads more accidents happen, sending the cost of car insurance flying through the roof.

The bottom line is, inflation is hurting everyone. As insurance companies are

Why does your car insurance cost more when your car’s depreciating?

paying out more, drivers are paying more in. The question is, how can you balance that out? Even with Ohio car insurance rates climbing it’s still one of the best states in the country to live in for cheap car insurance. You can shave 10% or more off your insurance premiums by:

· Driving safely! Nothing’s going to hurt your insurance rates like accidents and traffic violations. A clean driving record=cheaper insurance.

· Check out the information published by the Highway Loss Data Institute before you go shopping for your next car. This is the insurance salesman’s Bible when it comes to determining how big a risk your make and model of car happen to be. (Those Ford Tauruses just can’t keep themselves out of trouble…)

· Boost your car’s safety and security features. Anti-lock brakes, fuel switches, automatic door locks (that are ridiculously difficult to jimmy with a coat hanger, in case you’ve never locked yourself out of your car and had to try it) airbags, seatbelts and GPS tracking systems can easily shave 10% or more off your premiums by making your car a much safer investment.

· Park in a garage or driveway instead of out on the street.

· Talk to your insurance agent about other discounts you may be eligible for. It’s amazing what will save you money on your insurance!

Ohio car insurance rates are going up. So is everything else! With some careful management, however, you can continue to get the insurance coverage you need at a price you can afford.

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