Did Your Car Insurance Premium Go Up? Here’s Why & What You Can Do
Opened Your Latest Insurance Bill and Felt Shocked?
You’re not the only one. Car insurance rates have been increasing across the board—even for drivers with a clean record.
If you’re wondering:
✔ Why did my premium go up?
✔ How much is car insurance now?
✔ What can I do to lower my rate?
We’ve got the answers. At Trailstone Insurance Group, we just completed a deep dive into December 2024 auto rates, and here’s what we found.
How Much Is Car Insurance in 2024?
🚗 The average cost of full coverage auto insurance:
✔ $2,195 per year (~$182 per month)
📉 The average cost of minimum coverage:
✔ $438 per year (~$37 per month)
🔹 Why do rates vary? Your premium depends on:
✔ Your age & driving history
✔ Your credit score
✔ Your location
✔ Your vehicle
Car Insurance Costs by Driver Profile
Here’s how national median rates compare across different driving profiles:
| Driver Profile | Full Coverage | Minimum Coverage |
|---|---|---|
| Clean record, good credit | $2,195 | $438 |
| One speeding ticket, good credit | $2,781 | $657 |
| One at-fault accident, good credit | $3,435 | $887 |
| One DUI, good credit | $4,271 | $1,197 |
| Clean record, poor credit | $3,232 | $967 |
🚨 Key Takeaway: Full coverage costs more because it includes collision & comprehensive protection—the VIP package for your car. Minimum coverage only meets state-required liability limits, making it cheaper but offering less financial protection.
Why Did Your Car Insurance Go Up?
Even if your driving habits haven’t changed, your premium might have increased. Here’s why:
1. Your Driving Record Changed
✔ Got a speeding ticket? Your rates can increase for three to five years.
✔ Been in an accident? An at-fault accident can raise premiums 30% or more.
✔ DUI or reckless driving charge? Expect a huge spike—some states require high-risk insurance for years.
🚨 What to do: If you’ve had a recent violation, look into defensive driving courses or insurance discounts that reward safe driving.
2. Market Trends Are Driving Rates Up
✔ More claims = higher rates for everyone.
✔ Rising repair costs (thanks to expensive car technology).
✔ Increased medical costs for accident injuries.
Even if you have a perfect record, these industry-wide changes can impact your premium.
🚨 What to do: Shop around for the best rates—Trailstone works with 40+ A-rated insurers to find you better pricing.
3. You Moved to a Different Area
✔ Your ZIP code affects your rates!
✔ If you moved to an area with higher accident rates or more thefts, your premium may increase.
✔ Some states have higher insurance costs due to regulations and risk levels.
🚨 What to do: Ask us to compare rates from multiple companies to find the best option in your new location.
4. Your Credit Score Changed
✔ Many insurance companies use credit-based insurance scores to set premiums.
✔ If your credit score dropped, your rate might increase.
✔ Drivers with poor credit pay nearly 50% more on average than those with good credit.
🚨 What to do: Work on improving your credit score—even small increases can lower your premiums.
5. Your Car Is Newer or More Expensive to Insure
✔ Bought a new car? It might cost more to insure than your old one.
✔ Cars with advanced safety features often cost more to repair, increasing premiums.
✔ Luxury & sports cars have higher replacement costs—raising your rate.
🚨 What to do: Before buying a car, check insurance rates first—some models are much cheaper to insure than others.
How to Lower Your Auto Insurance Premium
✅ 1. Shop Around Every Year
✔ Rates change annually, and loyalty doesn’t always mean savings.
✔ Trailstone shops 40+ insurance companies for you—99% of the time, we find a lower rate.
✅ 2. Bundle Your Auto & Home Insurance
✔ Many insurers offer discounts for bundling policies.
✔ Bundling can save you up to 25%!
✅ 3. Increase Your Deductible (If You Can Afford It)
✔ Raising your deductible from $500 to $1,000+ can lower your premium.
✔ Just make sure you have savings set aside in case of an accident.
✅ 4. Take Advantage of Discounts
✔ Safe driving discounts
✔ Low mileage discounts
✔ Paperless billing discounts
✔ Good student discounts (for young drivers)
🚨 What to do: Call us and we’ll make sure you’re getting every discount available.
✅ 5. Consider Usage-Based Insurance (Telematics)
✔ Some insurers offer pay-per-mile or telematics programs that track your driving habits.
✔ If you drive less or practice safe driving, you could save up to 40%!
🚨 What to do: Ask us if telematics is a good fit for your driving habits.
Let Trailstone Find You a Lower Rate
If your premium just increased, don’t panic—there’s a good chance we can save you money.
📞 Here’s what to do next:
✔ Call us today for a free policy review.
✔ Let us shop 40+ insurers to find you a better deal.
✔ Save time and money—we handle the hard work for you.