Auto insurance premiums change for the same reasons that the price of other
goods and services you buy change.
The prices of the goods and services that insurance companies buy affect the
prices they charge. Costs affecting the ultimate price of auto insurance are:
 |
Medical costs to treat injuries |
|
Auto repair costs |
|
Costs to adjust claims |
|
Inflation |
|
Uninsured drivers (your policy pays when the other driver doesn't have
an auto insurance policy if you purchase Uninsured Motorist coverage) |
Although insurance companies can't directly control these costs, we regularly
monitor them to see how they are affecting the costs of the claims we pay. As
they change, auto premiums must be adjusted. These costs can affect your auto
insurance premium whether or not you individually have had an accident or claim.
Changes you make to your auto insurance policy or coverages may also change
the premiums. Adding or removing a driver, buying a new car, moving to a new
location or changing how youError 500: com.farmers.farmcomm.navigation.DynamicNavigation (initialization failure)
