What time of year is car insurance most expensive?

That said, some experts think that December is a good time to get quotes. This is because some insurance companies may adjust rates early in the new year. In addition, due to multi-year increases in car prices and repair costs, many insurers must increase rates to keep up with more expensive payments. However, some insurers try to predict which customers are the least likely to switch insurers and get the most benefits from them by increasing rates.

Knowing the wide range of car insurance costs can help you decide which providers and coverages you should consider. A full coverage policy includes comprehensive and collision coverage, which covers the repair or replacement of your car after a variety of mishaps, such as if you collide with other vehicles or animals, or if it is stolen. In general, moving to a higher level of equipment increases not only the price of the car, but also the insurance premium. Insurance companies have a lot of discounts, and you can save money if you check with your agent on a regular basis.

Certain life events can translate into cheaper car insurance, so look for quotes whenever something important changes in your life. That's why it's important to compare car insurance prices to find the best car insurance rates for you. The NerdUp by NerdWallet credit card is issued by Evolve Bank & Trust under a license from MasterCard International Inc. Drivers with low mileage often take out cheaper car insurance, because less time on the road means less chance of getting into an accident. In general, there is no specific time of year that is considered the best time to buy car insurance. Even if you moved to a more expensive area to buy car insurance, comparing prices can help you get cheaper coverage.

According to some insurers, drivers in certain occupations pay higher rates because they are more likely than others to file insurance claims.

Elizabeth Unch
Elizabeth Unch

Amateur social media expert. Extreme pop culture lover. Proud coffee lover. Certified coffeeaholic. Lifelong food ninja. Hipster-friendly food specialist.